The globalization of U.S. business investment

This paper documents some key facts about foreign direct investment flows by U.S. businesses overseas and foreign businesses in the United States. We show how the pattern of flows has evolved, examine the sources and destination of these flows, document associated employment and productivity gains, and show how investment-related sales compare with traditional exports. While the United States is a net debtor to the rest of the world, direct investment overseas by U.S. businesses exceeds direct investment in the U.S. by foreign businesses. Furthermore, U.S. businesses seem to earn more on their foreign investments than foreign firms earn on their U.S. investments. The globalization of business investment is a long-standing phenomenon, but it has accelerated in recent years and become a source of concern for some, as it is intimately related to the debate on offshore outsourcing. Yet contrary to what some think, the bulk of U.S. investment overseas is in other high-income countries. And foreign investment in the U.S. has been an important source of employment growth in recent years.Investments, Foreign - United States

Openness and inflation

This paper reviews the evidence on the relationship between openness and inflation. There is a robust negative relationship across countries, first documented by Romer (1993), between a country's openness to trade and its long-run inflation rate. However, a key part of the standard explanation for this relationship—that central banks have a smaller incentive to engineer surprise inflations in more-open economies because the Phillips curve is steeper—seems at odds with the facts. While the United States is still not a very open economy by conventional measures, there are channels through which global developments may influence the nation's inflation. We document evidence that global resource utilization may play a role in U.S. inflation and suggest avenues for future research.Inflation (Finance) ; Trade ; Phillips curve

Beyond 2D-grids: a dependence maximization view on image browsing

Ideally, one would like to perform image search using an intuitive and friendly approach. Many existing image search engines, however, present users with sets of images arranged in some default order on the screen, typically the relevance to a query, only. While this certainly has its advantages, arguably, a more flexible and intuitive way would be to sort images into arbitrary structures such as grids, hierarchies, or spheres so that images that are visually or semantically alike are placed together. This paper focuses on designing such a navigation system for image browsers. This is a challenging task because arbitrary layout structure makes it difficult -- if not impossible -- to compute cross-similarities between images and structure coordinates, the main ingredient of traditional layouting approaches. For this reason, we resort to a recently developed machine learning technique: kernelized sorting. It is a general technique for matching pairs of objects from different domains without requiring cross-domain similarity measures and hence elegantly allows sorting images into arbitrary structures. Moreover, we extend it so that some images can be preselected for instance forming the tip of the hierarchy allowing to subsequently navigate through the search results in the lower levels in an intuitive way

The structural and electrical properties of thermally grown TiO2 thin films

We studied the structural and electrical properties of TiO2 thin films grown by thermal oxidation of e-beam evaporated Ti layers on Si substrates. Time of flight secondary ion mass spectroscopy (TOF-SIMS) was used to analyse the interfacial and chemical composition of the TiO2 thin films. Metal oxide semiconductor (MOS) capacitors with Pt or Al as the top electrode were fabricated to analyse electrical properties of the TiO2 thin films. We show that the reactivity of the Al top contact affects electrical properties of the oxide layers. The current transport mechanism in the TiO2 thin films is shown to be Poole–Frenkel (P–F) emission at room temperature. At 84 K, Fowler– Nordheim (F–N) tunnelling and trap-assisted tunnelling are observed. By comparing the electrical characteristics of thermally grown TiO2 thin films with the properties of those grown by other techniques reported in the literature, we suggest that, irrespective of the deposition technique, annealing of as-deposited TiO2 in O2 is a similar process to thermal oxidation of Ti thin films

Kernel conditional quantile estimation via reduction revisited

Quantile regression refers to the process of estimating the quantiles of a conditional distribution and has many important applications within econometrics and data mining, among other domains. In this paper, we show how to estimate these conditional quantile functions within a Bayes risk minimization framework using a Gaussian process prior. The resulting non-parametric probabilistic model is easy to implement and allows non-crossing quantile functions to be enforced. Moreover, it can directly be used in combination with tools and extensions of standard Gaussian Processes such as principled hyperparameter estimation, sparsification, and quantile regression with input-dependent noise rates. No existing approach enjoys all of these desirable properties. Experiments on benchmark datasets show that our method is competitive with state-of-the-art approaches.

Factors of Influence on the Performance of a Short-Latency Non-Invasive Brain Switch: Evidence in Healthy Individuals and Implication for Motor Function Rehabilitation.

Brain-computer interfacing (BCI) has recently been applied as a rehabilitation approach for patients with motor disorders, such as stroke. In these closed-loop applications, a brain switch detects the motor intention from brain signals, e.g., scalp EEG, and triggers a neuroprosthetic device, either to deliver sensory feedback or to mimic real movements, thus re-establishing the compromised sensory-motor control loop and promoting neural plasticity. In this context, single trial detection of motor intention with short latency is a prerequisite. The performance of the event detection from EEG recordings is mainly determined by three factors: the type of motor imagery (e.g., repetitive, ballistic), the frequency band (or signal modality) used for discrimination (e.g., alpha, beta, gamma, and MRCP, i.e., movement-related cortical potential), and the processing technique (e.g., time-series analysis, sub-band power estimation). In this study, we investigated single trial EEG traces during movement imagination on healthy individuals, and provided a comprehensive analysis of the performance of a short-latency brain switch when varying these three factors. The morphological investigation showed a cross-subject consistency of a prolonged negative phase in MRCP, and a delayed beta rebound in sensory-motor rhythms during repetitive tasks. The detection performance had the greatest accuracy when using ballistic MRCP with time-series analysis. In this case, the true positive rate (TPR) was ~70% for a detection latency of ~200 ms. The results presented here are of practical relevance for designing BCI systems for motor function rehabilitation

Living evidence of a fossil survival strategy raises hope for warming-affected corals

Climate change is affecting reef-building corals worldwide, with little hope for recovery. However, coral fossils hint at the existence of environmental stress–triggered survival strategies unreported in extant colonial corals. We document the living evidence and long-term ecological role of such a survival strategy in which isolated polyps from coral colonies affected by warming adopt a transitory resistance phase, in turn expressing a high recovery capacity in dead colony areas. Such processes have been described in fossil corals as rejuvenescence but were previously unknown in extant reef-builder corals. Our results based on 16 years of monitoring show the significance of this process for unexpected recoveries of coral colonies severely affected by warming. These findings provide a link between rejuvenescence in fossil and extant corals and reveal that beyond adaptation and acclimatization processes, modern scleractinian corals show yet undiscovered and highly effective survival strategies that help them withstand and recover from rapid environmental changes

Mycoplasma Mastitis in Dairy Cattle

Mastitis is defined as inflammation of the mammary gland, usually due to microbial infection. Many organisms have been known to cause mastitis including bacteria, fungi, and yeast. Mastitis is the most economically important disease of the dairy industry, the condition has been estimated to cause as much as two billion dollars in lost income for United States dairy producers at a cost of $181 per cow per year. The biggest losses are due to lowered production, but discarded milk, drugs, veterinary costs, and premature culling also contribute to the losses. More than 130 different microorganisms have been isolated from the mammary gland of the bovine with the majority of infections due to staphylococci, streptococci, and coliforms. However, mycoplasmas have begun to cause significant problems in some dairies. The first reported cases of mycoplasma mastitis were in Europe in 1960. Since that time it has been found all around the world, including the United States. Traditionally, California was most affected, but the disease has now become a problem across the entire country

Biogeographic Differences in the Microbiome and Pathobiome of the Coral Cladocora caespitosa in the Western Mediterranean Sea.

The endemic Mediterranean zooxanthellate scleractinian reef-builder Cladocora caespitosa is among the organisms most affected by warming-related mass mortality events in the Mediterranean Sea. Corals are known to contain a diverse microbiota that plays a key role in their physiology and health. Here we report the first study that examines the microbiome and pathobiome associated with C. caespitosa in three different Mediterranean locations (i.e., Genova, Columbretes Islands, and Tabarca Island). The microbial communities associated with this species showed biogeographical differences, but shared a common core microbiome that probably plays a key role in the coral holobiont. The putatively pathogenic microbial assemblage (i.e., pathobiome) of C. caespitosa also seemed to depend on geographic location and the human footprint. In locations near the coast and with higher human influence, the pathobiome was entirely constituted by Vibrio species, including the well-known coral pathogens Vibrio coralliilyticus and V. mediterranei. However, in the Columbretes Islands, located off the coast and the most pristine of the analyzed locations, no changes among microbial communities associated to healthy and necrosed samples were detected. Hence, our results provide new insights into the microbiome of the temperate corals and its role in coral health status, highlighting its dependence on the local environmental conditions and the human footprint

Peracute Toxic Coliform Mastitis

The incidence of coliform mastitis has been on the increase since a serious effort has been made to eliminate Streptococcus agalactia and Staphylacoccus aureus mammary infections in dairy herds throughout the U.S. As somatic cell counts decrease in dairy cows, they tend to be more susceptible to coliform mastitis. It is likely that this trend will continue as long as stringent controls are being placed on somatic cell levels and premiums are being offered for better quality milk