RISK PREMIUM: INSIGHTS OVER THE THRESHOLD

The aim of this paper is twofold: First to test the adequacy of Pareto distributions to describe the tail of financial returns in emerging and developed markets, and second to study the possible correlation between stock market indices observed returns and return’s extreme distributional characteristics measured by Value at Risk and Expected Shortfall. We test the empirical model using daily data from 41 countries, in the period from 1995 to 2005. The findings support the adequacy of Pareto distributions and the use of a log linear regression estimation of their parameters, as an alternative for the usually employed Hill’s estimator. We also report a significant relationship between extreme distributional characteristics and observed returns, especially for developed countries.

Risk premium: insights over the threshold

The aim of this paper is twofold: First to test the adequacy of Pareto distributions to describe the tail of financial returns in emerging and developed markets, and second to study the possible correlation between stock market indices observed returns and return's extreme distributional characteristics measured by Value at Risk and Expected Shortfall. We test the empirical model using daily data from 41 countries, in the period from 1995 to 2005. The findings support the adequacy of Pareto distributions and the use of a log linear regression estimation of their parameters, as an alternative for the usually employed Hill's estimator. We also report a significant relationship between extreme distributional characteristics and observed returns, especially for developed countries

Magnesium and aluminum sulfates in salt efflorescences from acid mine drainage in the Iberian Pyrite Belt (SW Spain)

Proceedings IMWA 2016, Freiberg/Germany | Drebenstedt, Carsten, Paul, Michael (eds.) | Mining Meets Water – Conflicts and Solutions.The current study is focused on AMD-precipitates that compose the typical magnesium and aluminum sulfate assemblages in the Spanish sector of the Iberian Pyrite Belt (SW Spain). The main objectives are identify and describe the composition, morphology and paragenetic relationships of these sulfate phases. From the methodological pint of view, sampling procedure covered the entire metallogenetic province, including five selected representative mines and eight river basins, which are the main receptors of the acid mine drainage discharges. The mineralogical analyses were performed by X-Ray diffraction and electron microscopy. The obtained results showed the extraordinary abundance of aluminum sulfates with acicular habit, from the series pickeringite-apjhonite-halotrichite. They form typical assemblages with other aluminum sulfates, such as alunogen and tamarugite, and with the Mg sulfates: epsomite and hexahydrite. Moreover, the paragenetic relationships indicate the late occurrence of acicular Alsulfates from the halotrichite group.Financial support for this research was provided by the Andalusian Autonomous Government Excellence Project, code P06-RNM-02167. This work was also co-funded by the European Union through the European Regional Development Fund, based on COMPETE 2020 (Programa Operacional da Competitividade e Internacionalização), project ICT (UID/GEO/04683/2013) with reference POCI-01-0145-FEDER-007690 and national funds provided by Fundação para a Ciência e Tecnologia.info:eu-repo/semantics/publishedVersio

Preliminary assessment of cardiac short term safety and efficacy of manganese chloride for cardiovascular magnetic resonance in humans

<p>Abstract</p> <p>Background</p> <p>Manganese based agents are intracellular and accumulate inside myocytes allowing for different imaging strategies compared to gadolinium contrasts. While previous agents release manganese very slowly in the circulation, MnCl₂allows for rapid Mn2⁺uptake in myocytes, creating a memory effect that can be potentially explored. Data on animal models are very encouraging but the safety and efficacy of this approach in humans has not yet been investigated. Therefore, our objectives were to study the safety and efficacy of a rapid infusion of manganese chloride (MnCl₂) for cardiovascular magnetic resonance (CMR) in humans.</p> <p>Methods</p> <p>Fifteen healthy volunteers underwent a CMR scan on a 1.5 T scanner. Before the infusion, cardiac function was calculated and images of a short axis mid-ventricular slice were obtained using a 2D and 3D gradient-echo inversion recovery (GRE-IR) sequence, a phase-sensitive IR sequence and a single breath-hold segmented IR prepared steady-state precession acquisition for T₁calculations. MnCl₂was infused over three minutes at a total dose of 5 μMol/kg. Immediately after the infusion, and at 15 and 30 minutes later, new images were obtained and cardiac function re-evaluated.</p> <p>Results</p> <p>There was a significant decrease in T₁values compared to baseline, sustained up to 30 minutes after the MnCl₂infusion (pre,839 ± 281 ms; 0 min, 684 ± 99; 15 min, 714 ± 168; 30 min, 706 ± 172, P = 0.003). The 2D and 3D GRE-IR sequence showed the greatest increase in signal-to-noise ratio compared to the other sequences (baseline 6.6 ± 4.2 and 9.7 ± 5.3; 0 min, 11.3 ± 4.1 and 15.0 ± 8.7; 15 min, 10.8 ± 4.0 and 16.9 ± 10.2; 30 min, 10.6 ± 5.2 and 16.5 ± 8.3, P < 0.001 for both). There was a slight increase in systolic pressure and heart rate after three and four minutes of the infusion with normalization of these parameters thereafter. Patients showed good tolerance to MnCl₂with no major adverse events, despite all reporting transient facial flush.</p> <p>Conclusions</p> <p>In the short term, MnCl₂appears safe for human use. It effectively decreases myocardium T₁, maintaining this effect for a relatively long period of time and allowing for the development of new imaging strategies in CMR, especially in ischemia research.</p

Mass spectrometry parameters optimization for the 46 multiclass pesticides determination in strawberries with gas chromatography ion-trap tandem mass spectrometry

Multiclass analysis method was optimized in order to analyze pesticides traces by gas chromatography with ion-trap and tandem mass spectrometry (GC-MS/MS). The influence of some analytical parameters on pesticide signal response was explored. Five ion trap mass spectrometry (IT-MS) operating parameters, including isolation time (IT), excitation voltage (EV), excitation time (ET),maximum excitation energy or “q” value (q), and isolationmass window (IMW) were numerically tested in order to maximize the instrument analytical signal response. For this, multiple linear regression was used in data analysis to evaluate the influence of the five parameters on the analytical response in the ion trap mass spectrometer and to predict its response. The assessment of the five parameters based on the regression equations substantially increased the sensitivity of IT-MS/MS in the MS/MS mode. The results obtained show that for most of the pesticides, these parameters have a strong influence on both signal response and detection limit.Using the optimized method, a multiclass pesticide analysis was performed for 46 pesticides in a strawberry matrix. Levels higher than the limit established for strawberries by the European Union were found in some samples

P53 and cancer-associated sialylated glygans are surrogate markers of cancerization of the bladder associated with \u3ci\u3eSchistosoma haematobium\u3c/i\u3e infection

Background Bladder cancer is a significant health problem in rural areas of Africa and the Middle East where Schistosoma haematobium is prevalent, supporting an association between malignant transformation and infection by this blood fluke. Nevertheless, the molecular mechanisms linking these events are poorly understood. Bladder cancers in infected populations are generally diagnosed at a late stage since there is a lack of non-invasive diagnostic tools, hence enforcing the need for early carcinogenesis markers. Methodology/Principal Findings Forty-three formalin-fixed paraffin-embedded bladder biopsies of S. haematobium-infected patients, consisting of bladder tumours, tumour adjacent mucosa and pre-malignant/malignant urothelial lesions, were screened for bladder cancer biomarkers. These included the oncoprotein p53, the tumour proliferation rate (Ki-67\u3e17%), cell-surface cancer-associated glycan sialyl-Tn (sTn) and sialyl-Lewisa/x (sLea/sLex), involved in immune escape and metastasis. Bladder tumours of non-S. haematobium etiology and normal urothelium were used as controls. S. haematobium-associated benign/pre-malignant lesions present alterations in p53 and sLex that were also found in bladder tumors. Similar results were observed in non-S. haematobium associated tumours, irrespectively of their histological nature, denoting some common molecular pathways. In addition, most benign/pre-malignant lesions also expressed sLea. However, proliferative phenotypes were more prevalent in lesions adjacent to bladder tumors while sLea was characteristic of sole benign/pre-malignant lesions, suggesting it may be a biomarker of early carcionogenesis associated with the parasite. A correlation was observed between the frequency of the biomarkers in the tumor and adjacent mucosa, with the exception of Ki-67. Most S. haematobium eggs embedded in the urothelium were also positive for sLea and sLex. Reinforcing the pathologic nature of the studied biomarkers, none was observed in the healthy urothelium. Conclusion/Significance This preliminary study suggests that p53 and sialylated glycans are surrogate biomarkers of bladder cancerization associated with S. haematobium, highlighting a missing link between infection and cancer development. Eggs of S. haematobium express sLea and sLex antigens in mimicry of human leukocytes glycosylation, which may play a role in the colonization and disease dissemination. These observations may help the early identification of infected patients at a higher risk of developing bladder cancer and guide the future development of non-invasive diagnostic tests

Barreiras e facilitadores à integração dos serviços de depressão e tuberculose na rede de atenção primária no Brasil

Mental disorders can affect up to 70% of individuals with tuberculosis (TB). The World Health Organization (WHO) End TB Strategy explicitly calls for TB and mental health service integration. The goal of this study was to explore the barriers and facilitators to integrating depression treatment in the TB Control Program and primary care system in the municipality of Itaboraí - Rio de Janeiro, using Interpersonal Counseling (IPC). IPC is an evidence-based treatment for depression that can be delivered by non-mental health specialists with expert supervision. This study was conducted between 2016 and 2017 in the municipality of Itaboraí. Data collection consisted of six focus groups (n = 42) with health professionals (n = 29), program coordinators (n = 7) and TB patients (n = 6). The main potential barriers identified were poverty, political instability, an overburdened and under-resourced health system, high levels of distress among professionals, violence in the community and stigma related to mental health and TB. Potential facilitators included a high receptivity to, and demand for, mental health training; strong community relationships through the Community Health Workers (CHW); overall acceptability of IPC delivered by non-specialists for the treatment of depression among individuals with and without comorbid TB. Despite many challenges, integrating depression treatment into primary care in Itaboraí using IPC was perceived as an acceptable and feasible option.Os transtornos mentais podem afetar até 70% dos indivíduos com tuberculose (TB). A Organização Mundial da Saúde (OMS), como estratégia para o fim da TB, exige a integração do seu tratamento com a saúde mental. O objetivo deste estudo foi explorar as barreiras e facilitadores para integrar serviços de saúde mental no Programa de Controle de Tuberculose (PCT) e em Unidades de Saúde da Família (USF) do município de Itaboraí – Rio de Janeiro, com a aplicação do Aconselhamento Interpessoal (AIP). O AIP é um tratamento para depressão baseado em evidências que pode ser aplicado por não especialistas em saúde mental com supervisão especializada. Seis grupos focais foram realizados entre 2016 e 2017 no município de Itaboraí. A amostra (n=42) incluiu profissionais de saúde (n=29), coordenadores de programas (n=7) e pacientes com TB (n=6). Os grandes desafios encontrados foram: pobreza, instabilidade política, um sistema de saúde sobrecarregado e com poucos recursos, alta frequência de estresse entre os profissionais, violência na comunidade e estigma relacionado à saúde mental e à TB. Os facilitadores potenciais incluíram uma grande receptividade e demanda para capacitações em saúde mental; boa relação com a comunidade pelos Agentes Comunitários de Saúde (ACS) e; aceitação geral do AIP aplicado por não especialistas em saúde mental para o tratamento de depressão em pessoas com e sem TB. Apesar de muitos desafios, integrar o tratamento de depressão na atenção primária de Itaboraí aplicando o AIP foi percebido como uma alternativa aceitável e factível

Genetic variation in hippocampal microRNA expression differences in C57BL/6 J X DBA/2 J (BXD) recombinant inbred mouse strains

Background miRNAs are short single-stranded non-coding RNAs involved in post-transcriptional gene regulation that play a major role in normal biological functions and diseases. Little is currently known about how expression of miRNAs is regulated. We surveyed variation in miRNA abundance in the hippocampus of mouse inbred strains, allowing us to take a genetic approach to the study of miRNA regulation, which is novel for miRNAs. The BXD recombinant inbred panel is a very well characterized genetic reference panel which allows quantitative trait locus (QTL) analysis of miRNA abundance and detection of correlates in a large store of brain and behavioural phenotypes. Results We found five suggestive trans QTLs for the regulation of miRNAs investigated. Further analysis of these QTLs revealed two genes, Tnik and Phf17, under the miR-212 regulatory QTLs, whose expression levels were significantly correlated with miR-212 expression. We found that miR-212 expression is correlated with cocaine-related behaviour, consistent with a reported role for this miRNA in the control of cocaine consumption. miR-31 is correlated with anxiety and alcohol related behaviours. KEGG pathway analysis of each miRNA’s expression correlates revealed enrichment of pathways including MAP kinase, cancer, long-term potentiation, axonal guidance and WNT signalling. Conclusions The BXD reference panel allowed us to establish genetic regulation and characterize biological function of specific miRNAs. QTL analysis enabled detection of genetic loci that regulate the expression of these miRNAs. eQTLs that regulate miRNA abundance are a new mechanism by which genetic variation influences brain and behaviour. Analysis of one of these QTLs revealed a gene, Tnik, which may regulate the expression of a miRNA, a molecular pathway and a behavioural phenotype. Evidence of genetic covariation of miR-212 abundance and cocaine related behaviours is strongly supported by previous functional studies, demonstrating the value of this approach for discovery of new functional roles and downstream processes regulated by miRNA