Housing and stock market nexus in the US

Purpose: The research aims to study the causality between the US stock and housing markets in the period from 1890 to 2014. Design/Methodology/Approach: The Granger-Causality bootstrap rolling-window test is used for studying the causality between the stock as well as real estate markets in the US. Findings: The results provide robust evidence that the causality running from the housing in the stock markets has positive effects between 1918 and 1922, 1926 and 1931, 1953 and 1955 but negative effects between 1932 and 1934 and from 1971 to 1972, displaying the occurrence of a credit-price effect. In contrast, the S&P 500 stomped the housing market between 1965 and 1970, when the wealth effect dominated in the US economy. Specifically, when the negative causality of both markets happens, investors gain by allocating housing and stocks assets as various portfolios. Practical Implications: This finding specifies that housing markets may be employed to predict stock markets and vice versa in the US. Studying both markets’ causality offers policymakers and practitioners more situation on where the market may be going and how it works over time. Originality/Value: Original research.peer-reviewe

A Local Diagnosis Algorithm for Hypercube-like Networks under the BGM Diagnosis Model

System diagnosis is process of identifying faulty nodes in a system. An efficient diagnosis is crucial for a multiprocessor system. The BGM diagnosis model is a modification of the PMC diagnosis model, which is a test-based diagnosis. In this paper, we present a specific structure and propose an algorithm for diagnosing a node in a system under the BGM model. We also give a polynomial-time algorithm that a node in a hypercube-like network can be diagnosed correctly in three test rounds under the BGM diagnosis model

Induced pluripotent stem cells and regenerative medicine

AbstractStem cells, a special subset of cells derived from embryo or adult tissues, are known to present the characteristics of self-renewal, multiple lineages of differentiation, high plastic capability, and long-term maintenance. Recent reports have further suggested that neural stem cells (NSCs) derived from the adult hippocampal and subventricular regions possess the utilizing potential to develop the transplantation strategies and to screen the candidate agents for neurogenesis, neuroprotection, and neuroplasticity in neurodegenerative diseases. In this article, we review the roles of NSCs and other stem cells in neuroprotective and neurorestorative therapies for neurological and psychiatric diseases. We show the evidences that NSCs play the key roles involved in the pathogenesis of several neurodegenerative disorders, including depression, stroke, and Parkinson’s disease. Moreover, the potential and possible utilities of induced pluripotent stem cells, reprogramming from adult fibroblasts with ectopic expression of four embryonic genes, are also reviewed and further discussed. An understanding of the biophysiology of stem cells could help us elucidate the pathogenicity and develop new treatments for neurodegenerative disorders. In contrast to cell transplantation therapies, the application of stem cells can further provide a platform for drug discovery and small molecular testing, including Chinese herbal medicines. In addition, the high-throughput stem cell-based systems can be used to elucidate the mechanisms of neuroprotective candidates in translation medical research for neurodegenerative diseases

Factors Related to Significant Improvement of Estimated Glomerular Filtration Rates in Chronic Hepatitis B Patients Receiving Telbivudine Therapy

Background and Aim. The improvement of estimated glomerular filtration rates (eGFRs) in chronic hepatitis B (CHB) patients receiving telbivudine therapy is well known. The aim of this study was to clarify the kinetics of eGFRs and to identify the significant factors related to the improvement of eGFRs in telbivudine-treated CHB patients in a real-world setting. Methods. Serial eGFRs were calculated every 3 months using the Chronic Kidney Disease Epidemiology Collaboration (CKD-EPI) equation. The patients were classified as CKD-1, -2, or -3 according to a baseline eGFR of ≥90, 60–89, or <60 mL/min/1.73 m2, respectively. A significant improvement of eGFR was defined as a more than 10% increase from the baseline. Results. A total of 129 patients were enrolled, of whom 36% had significantly improved eGFRs. According to a multivariate analysis, diabetes mellitus (DM) (p=0.028) and CKD-3 (p=0.043) were both significantly related to such improvement. The rates of significant improvement of eGFR were about 73% and 77% in patients with DM and CKD-3, respectively. Conclusions. Telbivudine is an alternative drug of choice for the treatment of hepatitis B patients for whom renal safety is a concern, especially patients with DM and CKD-3

Quantitative assessment of female pattern hair loss

AbstractBackground/ObjectiveThe conventional approach to evaluate female pattern hair loss (FPHL) is to visually inspect and score images of balding area (BA). However, visual estimates vary widely among different physicians, and may hinder objective assessment of hair loss and subsequent treatment response. For this reason, we propose a quantitative method using a computer-aided imaging system to help physicians evaluate the severity of FPHL clinically.MethodsWe use a series of digital image processing techniques to measure the width of central balding area of FPHL. A total of 184 photos were collected form 33 Chinese women with FPHL (stages I-2 to II-2 on the Savin scale). Each photograph underwent standardized exposure correction. The balding areas were detected through this computer system and then transformed into an equivalent ellipse by principal component analysis. The width of ellipse [balding width (BW)] was measured. Spearman's rank correlation was used to detect the correlation between our measurements and clinical staging.ResultsExposure correction resulted in a 16.97% (|BWcorrected − BWoriginal|/BWcorrected) difference in BW.‏ The average BW was 54.98 mm in all patients, 25.79 mm in type I-2 patients, 37.41 mm in I-3, 54.08 mm in I-4, 72.10 mm in II-1, and 85.53 mm in II-2. The values of BW were correlated with Savin scale stages clinically (rBW = 0.967), which was significant statistically (p < 0.05).ConclusionA computer-aided imaging system could be a useful tool to assist physicians to evaluate the balding area more precisely for clinical staging in FPHL. The BW instead of the balding area is simple to use clinically to represent the severity of FPHL