Trend shocks and the countercyclical U.S. current account

From 1960-2009, the U.S. current account balance has tended to decline during expansions and improve in recessions. We argue that trend shocks to productivity can help explain the countercyclical U.S. current account. Our framework is a two-country, two-good real business cycle (RBC) model in which cross-border asset trade is limited to an international bond. We identify trend and transitory shocks to U.S. productivity using generalized method of moments (GMM) estimation. The specification that best matches the data assigns a large role to trend shocks. The estimated model generates a countercyclical current account without excessive consumption volatility

Trend shocks and the countercyclical U.S. current account

From 1960-2009, the U.S. current account balance has tended to decline during expansions and improve in recessions. We argue that trend shocks to productivity can help explain the countercyclical U.S. current account. Our framework is a two-country, two-good real business cycle (RBC) model in which cross-border asset trade is limited to an international bond. We identify trend and transitory shocks to U.S. productivity using generalized method of moments (GMM) estimation. The specification that best matches the data assigns a large role to trend shocks. The estimated model generates a countercyclical current account without excessive consumption volatility

Smoking‐induced genetic and epigenetic alterations in infertile men

Male fertility rates have shown a progressive decrease in both developing and industrialised countries in the past 50 years. Clinical and epidemiological studies have demonstrated controversial results about the harmful effects of cigarette smoking on seminal parameters. Some studies could not establish a negative effect by tobacco smoking on sperm quality and function, whereas others have found a significant reduction in sperm quality and function. This study reviews the components in cigarette smoke and discusses the effects of smoking on male fertility by focusing extensively on smoking‐induced genetic and epigenetic alterations in infertile men. Chromosomal aneuploidies, sperm DNA fragmentation and gene mutations are discussed in the first section, while changes in DNA methylation, chromatin remodelling and noncoding RNAs are discussed in the second section as part of epigenetic alterations

Wirkung von Dinukleosidpolyphosphaten und Elektrolyten auf die Caspase-3-Aktivität bei Niereninsuffizienz und Sepsis

Die Caspase-3 stellt einen wichtigen Parameter der Apoptose dar. In der vorliegenden Arbeit wurde die Caspase-3 an mononukleären Leukozyten untersucht. Die Hemmung der $Ca^{2+}$-ATPase durch Thapsigargin führte bei Patienten mit Sepsis zu einer Erhöhung der Caspase-3. Bei Patienten mit Niereninsuffizienz kam es zu einer Abnahme der Caspase-3. Die Vorgabe des $Ap_{5}A$ führte zu einer Steigerung der Caspase-3 bei Patienten mit Niereninsuffizienz. Die $Ap_{5}A$-induzierte Steigerung der Caspase-3 erfolgt über die Aktivierung von $P_{2X}$-Rezeptoren, durch Hemmung der Phosphoinositol-spezifischen Phospholipase C, durch Hemmung der Protein-Kinase C, sowie durch Natrium- und Calcium-Einstrom. Die Erhöhung der intrazellulären Natriumkonzentration verursachte einen Anstieg der Caspase-3. Die Erhöhung der intrazellulären Calciumkonzentration bewirkte eine Hemmung der Caspase-3. Die Arbeit zeigt eine Regulation der intrazellulären Caspase-3 durch Dinukleosidpolyphosphate und intrazelluläre Elektrolyte

<b>Ahmed Yesevî’de Ölüm Algısı </b> / <i> Ahmad Yasawi’s Perception of Death </i>

Abstract Death comes to all living creatures. Therefore, humans have always wondered about the phenomenon of death which ends the mortal life and assigned meanings to it. As there were some who assumed the death evil and scary, others thought it was blessed and greeted it happily. Without any doubt, this second group mainly consisted of Sufi people. They do not assume death as an annihilation but a phenomenon that lets them reunite with Allah The Almighty, who we owe our existence. In 12th century’s Central Asia, Sufi Ahmad Yasawi also greeted the death with happiness and perceived it as something that leads him to The Lord. According to him, the soul which forms the main essence of the human does not die, but only the body does. This is simply the transformation of human from one form to another. Thus death is not an annihilation but it is actually the human’s blissful reunion with Allah. This study handles with the Ahmad Yasawi’s perception of death and the meanings he assigned to in the context of his masterpiece, Diwan al-Hikmah. Öz Bütün canlılar mutlaka bir gün ölecektir. Bu sebeple insanoğlu, ölüm gibi dünya hayatını sonlandıran bir olguyu merak etmiş ve ona çeşitli anlamlar yüklemiştir. Ölümü kötü algılayan ve dolayısıyla ona korkarak yaklaşanlar olduğu gibi, onu iyi gören ve sevinçle karşılayanlar da olmuştur. Şüphesiz bu ikinci zümrenin başında sufiler gelir. Onlar ölümü bir yok oluş olarak değil, varlığımızı borçlu olduğumuz Yüce Allah’a kavuşturan bir olgu olarak görmüştür. Orta Asya’da XII. yüzyılda yaşamış ünlü ve etkili sufi Ahmed Yesevî de ölümü sevinçle karşılamış, kendisini Rabbine götüren bir sebep olarak algılamıştır. Ona göre insanın asıl özünü teşkil eden ruh ölmez, sadece beden ölür. Bu da insanın bir halden başka bir hale dönüşmesinden başka bir şey değildir. O zaman ölüm hiçbir zaman yok oluş değil, hakikatte insanın sevgiliye (Allah’a) kavuşmasıdır. Bu çalışmada Ahmed Yesevî’nin Divan-ı Hikmet’i esas alınarak onun ölüm algısı ve ona yüklediği anlamlar ele alınmıştır

POVERTY REDUCTIONAND SOCİAL TRANSFER EXPENDİTURES IN TURKEY

Günümüz kapitalist toplumlarında gelir eşitsizliğinin ve yoksulluğun artması, gelişmiş ve gelişmekte olan ülkelerde kamuoyunun dikkatinin bu konuya yönelmesine neden olmakta ve devletlerin yoksullukla mücadele programları kapsamında sosyal transfer harcamalarına önem vermesine yol açmaktadır. Ülkemizde son yıllarda yoksullukla mücadelede uygulanan sosyal politikalar kapsamında sosyal transfer harcamalarına önem verilmesi gelir dağılımı adaletsizliği ve yoksulluk oranlarının az da olsa azalmasında etkili olmuştur. Yoksullukla mücadelede bu tür bir sosyal transfer harcamaları politikası ile yoksul kesimlerin tüketim bütçesine katkı sağlamanın ötesine geçerek, mesleki beceri kazandırma ve kişisel yeteneklerin geliştirilmesi gibi uygulamalara ağırlık vererek onların yaşam düzeylerinin yoksulluk sınırının üzerine çıkarılması gibi politikaları da benimsemek gerekir.&nbsp;Increasing income inequality and poverty in today’s capitalist societies draws the attention of public opinion in developed and developing countries on this subject and also causes the governments to pay attention to social transfer expenditures within the scope of programs to fight against the poverty. In recent years, paying attention to social transfer expenditures within the scope of policies being followed in fighting against the poverty in our country has played an important role in decreasing the income inequality and poverty, even slightly. Through such a social transfer expenditure policy for fighting against the poverty, the policies such as moving the poor segments’ life standards beyond the poverty limit by providing them with occupational skills trainings and improving their personal skills by going beyond the contribution to their consumption budget should be followed.&nbsp

A INTERPRETATION ATTEMPT: THE TWO-LAYERED IRONY IN THE SHORT PROSE TEXT

In this interpretation attempt is analyzed the short prose text of Hertha Kraeftner in the two-layered framework of irony, which the writer uses, by means of the work immanent and reader-oriented interpretation methods. So this text improves direction of thought with the two-layered meaning relationship from the concrete to the abstract, from clearly visible to the symbolic extending.</p

Growth Shocks and Portfolio Flows

This paper studies the cyclicality of portfolio flows under the presence of productivity growth rate shocks. Productivity growth rate shocks successfully replicate countercyclical net equity outflows and procyclical bond inflows for advanced countries, which couldn't be captured in a model with only level shocks. Similarly, for an emerging market economy, the model with growth rate shocks generates countercyclical net equity inflows and procyclical bond inflows in accordance with data. Following a growth rate shock, home agents experience a decrease both in equity inflows and outflows on impact. Inflows decrease due to sales of home equity to realize capital gains and outflows decrease due to initial dissaving to finance increases in consumption and investment. Equity inflows increase later, as home dividends rise. Equity outflows pick up also as wealthier home agents increase purchases of foreign assets to hedge against home productivity shocks.Portfolio Flows, Productivity Growth Rate Shocks