Sectoral Inflation Dynamics, Idiosyncratic Shocks and Monetary Policy

This paper disentangles fluctuations in disaggregate prices into macroeconomic and idiosyncratic components using a factor-augmented vector autoregression (FAVAR) in order to shed light on sectoral inflation dynamics in Switzerland. We find that disaggregated prices react only slowly to monetary policy and other macroeconomic shocks, but relatively quickly to idiosyncratic shocks. We document that there is a large heterogeneity across sectors in the reaction to monetary policy shocks and show that sectors with larger volatility of idiosyncratic shocks react more readily to monetary policy. This finding stands in contrast to the rational inattention model of price setting. We also find that sectors, which change prices infrequently, react less strongly but if they do change their prices, they adjust them by a large amount. This suggests that the source of sluggish response to aggregate shocks is heterogeneity in menu costs rather than rational inattention. Furthermore, even though prices respond with a significant delay to identified monetary policy shocks, we find no evidence of a price puzzle on average. For single sectors, however, we still find a hump-shaped response which can partially be explained by the fact that, by law, rents are tied to interest rates in Switzerland.monetary policy transmission, idiosyncratic shocks, rational inattention, heterogeneity in price setting, cost channel, price puzzle

No X-Ray Excess from the HESS J1741-302 Region except a New Intermediate Polar Candidate

With the Suzaku satellite, we observed an unidentified TeV gamma-ray source HESS J1741$-$302 and its surroundings. No diffuse or point-like X-ray sources are detected from the bright southern emission peak of HESS J1741$-$302. From its neighborhood, we found a new intermediate polar candidate at the position of (\alpha, \delta)_{\rm J2000.0} = (\timeform{17h40m35.6s}, \timeform{-30D14m16s}), which is designated as Suzaku J174035.6$-$301416. The spectrum of Suzaku J174035.6$-$301416 exhibits emission lines at the energy of 6.4, 6.7 and 7.0 keV, which can be assigned as the K$\alpha$ lines from neutral, He-like and H-like iron, respectively. A coherent pulsation is found at a period of 432.1 $\pm$ 0.1 s. The pulse profile is quasi-sinusoidal in the hard X-ray band (4$-$8 keV), but is more complicated in the soft X-ray band (1$-$3 keV). The moderate period of pulsation, the energy flux, and the presence of the iron K$\alpha$ lines indicate that Suzaku J174035.6$-$301416 is likely an intermediate polar, a subclass of magnetized white dwarf binaries (cataclysmic variables). Based on these discoveries, we give some implications on the origin of GCDX and brief comments on HESS J1741$-$302 and PSR B1737$-$30.Comment: Accepted by PAS

Adding weight to judgments: The role of stimulus focality on weight-related embodied cognition

Research employing metaphors to explore embodied cognition has shown bidirectional relationships between cognitions and sensory-motor stimuli, such as importance and weight (e.g., “weighty tome”). This research has typically used cognition-relevant metaphor primes (e.g., weighted backpacks when making steepness judgments, weighted clipboards when judging importance of written information) but has yet to consider the role of stimuli features like focality in these findings. The current study examined wearing a heavy versus light backpack on social judgments to explore the effect of this unrelated weight prime on established weight-relevant cognitions. Participants were 40 undergraduate psychology students who wore a heavy (~5 kg) or light ( < 1 kg) backpack while making cognitive, affective, and interpersonal judgments. No significant differences were found between the judgments as a function of backpack weight. This finding suggests that non-task-relevant metaphorical primes have no observable effect on embodied cognition. This provides the first published evidence that embodied cognition is context sensitive and discriminating, that is, not every stimuli activates every related cognition

Die Glasmalereien vom Mittelalter bis 1930 im Kanton Thurgau

Erstmals in der Geschichte des Schweizer Corpus Vitrearum sind im Band zum Kanton Thurgau auch die Glasmalereien des 19. und frühen 20. Jahrhunderts erfasst. Während die Erforschung der vor 1800 geschaffenen Glasgemälde Erkenntnisse zum Stiftungswesen in einem von den eidgenössischen Orten gemeinsam verwalteten Gebiet bringt, lässt sich anhand der jüngeren Werke der handwerkliche und künstlerische Betrieb zur Zeit des Historismus, des Jugendstils und der Moderne beleuchten. Die Auswertung der Kirchgemeindearchive lieferte detaillierte Einsichten in die Entstehungsgeschichte dieser Glasmalereien

Characteristics and outcomes of doctors in a substance dependence monitoring programme in Canada: prospective descriptive study

Objective To describe the characteristics at enrolment and outcomes of doctors in a substance dependence monitoring programme in Canada

Characterization of the signal that directs Bcl-xL, but not Bcl-2, to the mitochondrial outer membrane

It is assumed that the survival factors Bcl-2 and Bcl-xL are mainly functional on mitochondria and therefore must contain mitochondrial targeting sequences. Here we show, however, that only Bcl-xL is specifically targeted to the mitochondrial outer membrane (MOM) whereas Bcl-2 distributes on several intracellular membranes. Mitochondrial targeting of Bcl-xL requires the COOH-terminal transmembrane (TM) domain flanked at both ends by at least two basic amino acids. This sequence is a bona fide targeting signal for the MOM as it confers specific mitochondrial localization to soluble EGFP. The signal is present in numerous proteins known to be directed to the MOM. Bcl-2 lacks the signal and therefore localizes to several intracellular membranes. The COOH-terminal region of Bcl-2 can be converted into a targeting signal for the MOM by increasing the basicity surrounding its TM. These data define a new targeting sequence for the MOM and propose that Bcl-2 acts on several intracellular membranes whereas Bcl-xL specifically functions on the MOM