Testing for convergence in stock markets: A non-linear factor approach

This paper applies the Phillips and Sul (2007) method to test for convergence in stock returns to an extensive dataset including monthly stock price indices for five EU countries (Germany, France, the Netherlands, Ireland and the UK) as well as the US over the period 1973-2008. We carry out the analysis on both sectors and individual industries within sectors. As a first step, we use the Stock and Watson (1998) procedure to filter the data in order to extract the long-run component of the series; then, following Phillips and Sul (2007), we estimate the relative transition parameters. In the case of sectoral indices we find convergence in the middle of the sample period, followed by divergence, and detect four (two large and two small) clusters. The analysis at a disaggregate, industry level again points to convergence in the middle of the sample, and subsequent divergence, but a much larger number of clusters is now found. Splitting the cross-section into two subgroups including Euro area countries, the UK and the US respectively, provides evidence of a global convergence/divergence process not obviously influenced by EU policies

Regulation of multimers via truncated isoforms: a novel mechanism to control nitric-oxide signaling

Nitric oxide (NO) is an essential regulator of Drosophila development and physiology. We describe a novel mode of regulation of NO synthase (NOS) function that uses endogenously produced truncated protein isoforms of Drosophila NOS (DNOS). These isoforms inhibit NOS enzymatic activity in vitro and in vivo, reflecting their ability to form complexes with the full-length DNOS protein (DNOS1). Truncated isoforms suppress the antiproliferative action of DNOS1 in the eye imaginal disc by impacting the retinoblastoma-dependent pathway, yielding hyperproliferative phenotypes in pupae and adult flies. Our results indicate that endogenous products of the dNOS locus act as dominant negative regulators of NOS activity during Drosophila development

Nitric oxide, cell multiplication, and cell survival

Arrest of cell division is crucial for cells to enter a program of terminal differentiation. In the developing organ or a differentiating tissue, growth arrest defines roughly the size of the cellular population that is further committed to become a domain of differentiated cells. Eventually, the balance between the number of cell divisions and the extent of subsequent programmed cell death determines the final size of a domain, a tissue, or an organ (for review, see Bryant and Simpson 1984; Raff 1992, 1996). Mitogenesis, cytostasis, and survival of neuronal cells can be induced and maintained by the same or by different growth or trophic factors. The signaling pathways that coordinate proliferation, growth arrest, and survival of cells and groups of cells in developing organisms are not known, but they probably involve as yet undetermined inter- and intra-cellular second messenger molecules

Preparation of complex titanium-containing coagulants from large-scale mineral concentrates and their use in wastewater treatment

Relevance. Development of new, highly effective reagents for treatment of wastewater of various origins is a complex and extremely important task. An equally pressing issue remains the development of technologies for processing large-scale mineral products, which currently have not found an economically feasible technology for their processing and have received the status of “waste”. The development of a technology for producing reagents using waste as a raw material will not only have an economic effect but will also significantly minimize the level of negative impact on the environment and take a step towards the implementation of the Zero Waste concept. Aim. Development of technology for processing large-scale titanium-containing raw materials to obtain complex titanium-containing reagents and study of their effectiveness in wastewater treatment from various industries. Methods. To study the phase composition of the samples, the X-ray diffraction method was used, and the determination of metal content in acidic solutions and wastewater was carried out by atomic emission spectroscopy. Results and conclusions. The authors have proposed the technology for production of complex titanium-containing coagulants, which includes hydrometallurgical technology for sulfuric acid processing of large-capacity mineral raw materials – titanite. Aluminum hydroxide was introduced into the resulting solutions to adjust the chemical composition and neutralize free sulfuric acid. The resulting aluminum sulfate transforms into the most stable form of 18-aqueous crystalline hydrate, absorbing moisture from the solution, realizing chemical dehydration. The study of the composition of solid samples of coagulants showed that the predominant phase in the composition of the complex coagulant is aluminum sulfate, and the content of titanium compounds ranges from 1 to 14 wt %. It was established that by varying the ratio of mineral raw materials:sulfuric acid it is possible to vary the amount of modifying additive titanium compounds in the complex reagent. It was proven that the use of complex titanium-containing coagulants in wastewater treatment allows reducing the consumption of coagulants by 25–35%, increasing the efficiency of water purification, minimizing residual concentrations of pollutants, and also significantly increasing the rate of sedimentation of coagulation sludge in comparison with traditional sulfate aluminum

Xenobiotic-induced activation of human aryl hydrocarbon receptor target genes in Drosophila is mediated by the epigenetic chromatin modifiers

Aryl hydrocarbon receptor (AHR) is the key transcription factor that controls animal development and various adaptive processes. The AHR\u27s target genes are involved in biodegradation of endogenous and exogenous toxins, regulation of immune response, organogenesis, and neurogenesis. Ligand binding is important for the activation of the AHR signaling pathway. Invertebrate AHR homologs are activated by endogenous ligands whereas vertebrate AHR can be activated by both endogenous and exogenous ligands (xenobiotics). Several studies using mammalian cultured cells have demonstrated that transcription of the AHR target genes can be activated by exogenous AHR ligands, but little is known about the effects of AHR in a living organism. Here, we examined the effects of human AHR and its ligands using transgenic Drosophila lines with an inducible human AhR gene. We found that exogenous AHR ligands can increase as well as decrease the transcription levels of the AHR target genes, including genes that control proliferation, motility, polarization, and programmed cell death. This suggests that AHR activation may affect the expression of gene networks that could be critical for cancer progression and metastasis. Importantly, we found that AHR target genes are also controlled by the enzymes that modify chromatin structure, in particular components of the epigenetic Polycomb Repressive complexes 1 and 2. Since exogenous AHR ligands (alternatively - xenobiotics) and small molecule inhibitors of epigenetic modifiers are often used as pharmaceutical anticancer drugs, our findings may have significant implications in designing new combinations of therapeutic treatments for oncological diseases. © Akishina et al

Wavelength-dependent nonlinear optical loop mirror for simultaneous amplitude noise reduction at two wavelengths

We propose and study analytically and numerically a polarisation-imbalanced Nonlinear Optical Loop Mirror (NOLM) scheme exhibitinga wavelength-dependent nonlinear characteristic. The device includes a symmetric coupler, an isotropic (or, in practice, twisted nonpolarisation-maintaining) fibre loop and a section of high birefringence (HiBi) fibre to break the polarisation symmetry. Thanks to thewavelength-dependent phase shift of the HiBi fibre, wavelength-dependent switching is obtained. For proper orientation of the HiBi fibrein the loop plane and using linear input polarisation at 45° with respect to its birefringence axes, the NOLM switching power varies withwavelength, whereas its zero low-power transmission and 100% maximal transmission are constant. Through slight adjustments of the HiBifibre birefringence, which can be realised mechanically or thermally, the ratio between switching powers at two particular wavelengthscan be readily adjusted. We show numerically that this scheme can be applied to simultaneous amplitude regeneration of two wavelengthchannels exhibiting uneven power levels

Sphinx measurements of the 2009 solar minimum x-ray emission

The SphinX X-ray spectrophotometer on the CORONAS-PHOTON spacecraft measured soft X-ray emission in the 1-15 keV energy range during the deep solar minimum of 2009 with a sensitivity much greater than GOES. Several intervals are identified when the X-ray flux was exceptionally low, and the flux and solar X-ray luminosity are estimated. Spectral fits to the emission at these times give temperatures of 1.7-1.9 MK and emission measures between 4 x 10^47 cm^-3 and 1.1 x 10^48 cm^-3. Comparing SphinX emission with that from the Hinode X-ray Telescope, we deduce that most of the emission is from general coronal structures rather than confined features like bright points. For one of 27 intervals of exceptionally low activity identified in the SphinX data, the Sun's X-ray luminosity in an energy range roughly extrapolated to that of ROSAT (0.1-2.4 keV) was less than most nearby K and M dwarfs.Comment: Astrophysical Journal, in press. 14 pp, 3 figure

Combination of hypomorphic mutations of the Drosophila homologues of aryl hydrocarbon receptor and nucleosome assembly protein family genes disrupts morphogenesis, memory and detoxification

Aryl hydrocarbon receptor is essential for biological responses to endogenous and exogenous toxins in mammals. Its Drosophila homolog spineless plays an important role in fly morphogenesis. We have previously shown that during morphogenesis spineless genetically interacts with CG5017 gene, which encodes a nucleosome assembly factor and may affect cognitive function of the fly. We now demonstrate synergistic interactions of spineless and CG5017 in pathways controlling oxidative stress response and long-term memory formation in Drosophila melanogaster. Oxidative stress was induced by low doses of X-ray irradiation of flies carrying hypomorphic mutation of spineless, mutation of CG5017, and their combination. To determine the sensitivity of these mutants to pharmacological modifiers of the irradiation effect, we irradiated flies growing on standard medium supplemented by radiosensitizer furazidin and radioprotector serotonin. The effects of irradiation were investigated by analyzing leg and antenna morphological structures and by using real-time PCR to measure mRNA expression levels for spineless, Cyp6g1 and Gst-theta genes. We also examined long-term memory in these mutants using conditioned courtship suppression paradigm. Our results show that the interaction of spineless and CG5017 is important for regulation of morphogenesis, long-term memory formation, and detoxification during oxidative stress. Since spineless and CG5017 are evolutionary conserved, these results must be considered when evaluating the risk of combining similar mutations in other organisms, including humans