Exchange Rate Misalignment, Capital Flows, and Optimal Monetary Policy Trade-offs

What determines the optimal monetary trade-offs between internal objectives (inflation, and output gap) and external objectives (competitiveness and trade imbalances) when inefficient capital flows cause exchange rate misalignment and distort current account positions? We characterize this trade-offs analytically, using the workhorse model of modern monetary theory in open economies under incomplete markets�where inefficient capital flows and exchange rate misalignments can arise independently of nominal distortions. We derive a quadratic approximation of the utility-based global policy loss function under fairly general assumptions on preferences and openness, and solve for the optimal targeting rules under cooperation. We show that, in economies with a low degree of exchange rate pass-through, the optimal response to inefficient capital inflows associated with real appreciation is contractionary, above and beyond the natural rate: the optimal policy curbs excessive demand at the cost of exacerbating currency overvaluation. In contrast, a high degree of pass-through, and/or low trade elasticities, warrants expansionary policies that lean against exchange rate appreciation and competitive losses, at the cost of inefficient inflation

Human fur gene encodes a yeast KEX2-like endoprotease that cleaves pro-beta-NGF in vivo.

Extracts from BSC-40 cells infected with vaccinia recombinants expressing either the yeast KEX2 prohormone endoprotease or a human structural homologue (fur gene product) contained an elevated level of a membrane-associated endoproteolytic activity that could cleave at pairs of basic amino acids (-LysArg- and -ArgArg-). The fur-directed activity (furin) shared many properties with Kex2p including activity at pH 7.3 and a requirement for calcium. By using antifurin antibodies, immunoblot analysis detected two furin translation products (90 and 96 kD), while immunofluorescence indicated localization to the Golgi apparatus. Coexpression of either Kex2p or furin with the mouse beta-nerve growth factor precursor (pro-beta-NGF) resulted in greatly enhanced conversion of the precursor to mature nerve growth factor. Thus, the sequence homology shared by furin and the yeast KEX2 prohormone processing enzyme is reflected by significant functional homology both in vitro and in vivo

Circumpolar Diversity and Geographic Differentiation of mtDNA in the Critically Endangered Antarctic Blue Whale (Balaenoptera musculus intermedia)

To the best of our knowledge, one or more authors of this paper were federal employees when contributing to this work.\ud This is the publisher’s final pdf. The published article is copyrighted by the Public Library of Science and can be found at: http://www.plosone.org/home.action.The Antarctic blue whale (Balaenoptera musculus intermedia) was hunted to near extinction between 1904 and 1972, declining from an estimated initial abundance of more than 250,000 to fewer than 400. Here, we describe mtDNA control region diversity and geographic differentiation in the surviving population of the Antarctic blue whale, using 218 biopsy samples collected under the auspices of the International Whaling Commission (IWC) during research cruises from 1990-2009. Microsatellite genotypes and mtDNA sequences identified 166 individuals among the 218 samples and documented movement of a small number of individuals, including a female that traveled at least 6,650 km or 131 degrees longitude over four years. mtDNA sequences from the 166 individuals were aligned with published sequences from 17 additional individuals, resolving 52 unique haplotypes from a consensus length of 410 bp. From this minimum census, a rarefaction analysis predicted that only 72 haplotypes (95% CL, 64, 86) have survived in the contemporary population of Antarctic blue whales. However, haplotype diversity was relatively high (0.968 +/- 0.004), perhaps as a result of the longevity of blue whales and the relatively recent timing of the bottleneck. Despite the potential for circumpolar dispersal, we found significant differentiation in mtDNA diversity (F-ST = 0.032, p<0.005) and microsatellite alleles (F-ST = 0.005, p<0.05) among the six Antarctic Areas historically used by the IWC for management of blue whales

A Single-Mode, Diode-Pumped Lma Laser To Probe The Spin Orientation Of Ensembles Of 3he And 4he

A diode-pumped Nd:Lanthanum Magnesium Hexaluminate laser was constructed which provides up to 15 mW of single-mode, tunable CW emission at 1083 nm. By appropriately polarizing the narrow-band laser emission (< 10 MHz), the laser can be used to determine the populations of the magnetic substates of the He ( 23S1) atoms. The laser is tuned to one of the absorption peaks of the helium metastable atom by tilting a thin (1 mm) solid, coated etalon placed inside the laser cavity and the absorption is measured. The relative absorption is used to determine the ensemble polarization ; the absolute absorption yields the metastable density

Frequency shifts of photoassociative spectra of ultracold metastable Helium atoms : a new measurement of the s-wave scattering length

We observe light-induced frequency shifts in one-color photoassociative spectra of magnetically trapped $^4$He$^*$ atoms in the metastable $2^3S_1$ state. A pair of ultracold spin-polarized $2^3S_1$ helium atoms is excited into a molecular bound state in the purely long range $0_u^+$ potential connected to the $2^3S_1 - 2^3P_0$ asymptote. The shift arises from the optical coupling of the molecular excited bound state with the scattering states and the bound states of two colliding $2^3S_1$ atoms. We measure the frequency-shifts for several ro-vibrational levels in the $0^+_u$ potential and find a linear dependence on the photoassociation laser intensity. Comparison with a theoretical analysis provides a good indication for the s-wave scattering length $a$ of the quintet ($^5\Sigma_g^+$) potential, $a=7.2\pm 0.6$ nm, which is significantly lower than most previous results obtained by non-spectroscopic methods.Comment: 7 pages, 4 figure

Shape oscillations in non-degenerate Bose gases - transition from the collisionless to the hydrodynamic regime

We investigate collective oscillations of non-degenerate clouds of Rb-87 atoms as a function of density in an elongated magnetic trap. For the low-lying M=0 monopole-quadrupole shape oscillation we measure the oscillation frequencies and damping rates. At the highest densities the mean-free-path is smaller than the axial dimension of the sample, which corresponds to collisionally hydrodynamic conditions. This allows us to cover the cross-over from the collisionless to the hydrodynamic regime. The experimental results show good agreement with theory. We also analyze the influence of trap anharmonicities on the oscillations in relation to observed temperature dependencies of the dipole and quadrupole oscillation frequencies. We present convenient expressions to quantify these effects.Comment: 10 pages, 5 figure

Prospects for measurement and control of the scattering length of metastable helium using photoassociation techniques

A numerical investigation of two-laser photoassociation (PA) spectroscopy on spin-polarized metastable helium (He*) atoms is presented within the context of experimental observation of the least-bound energy level in the scattering potential and subsequent determination of the s-wave scattering length. Starting out from the model developed by Bohn and Julienne [Phys. Rev. A \textbf{60}, (1999) 414], PA rate coefficients are obtained as a function of the parameters of the two lasers. The rate coefficients are used to simulate one- and two-laser PA spectra. The results demonstrate the feasibility of a spectroscopic determination of the binding energy of the least-bound level. The simulated spectra may be used as a guideline when designing such an experiment, whereas the model may also be employed for fitting experimentally obtained PA spectra. In addition, the prospects for substantial modification of the He* scattering length by means of optical Feshbach resonances are considered. Several experimental issues relating to the numerical investigation presented here are discussed.Comment: 9 pages, 7 figure

A High Power Lna Laser For Application To A New Polarized Electron Source

The recent development of high energy electron accelerators has generated a renewed interest in high current, high polarization electron sources. We have investigated several modifications to a method based on a pumped helium afterglow from which we expect improvements over the performances. These ones include the development of a high power, tunable LNA laser and the application of a new optical pumping scheme to the metastable helium atoms

Light signaling and plant responses to blue and UV radiations – Perspectives for applications in horticulture

Ultra-violet (UV) and blue radiations are perceived by plants through several photoreceptors. They regulate a large range of processes throughout plant life. Along with red radiations, they are involved in diverse photomorphogenic responses, e.g., seedling development, branching or flowering. In this paper, we present an overview of UV- and blue-radiations signaling pathways in some key physiological processes and describe effects of plant exposure to these wavelengths on phenotype as well as on contents in useful metabolites and resistance to bio aggressors. Taking these knowledge into account, we finally discuss possible applications of the use of such radiations to improve plant production in horticulture

Matriptase regulates c-Met mediated proliferation and invasion in inflammatory breast cancer.

The poor prognosis for patients with inflammatory breast cancer (IBC) compared to patients with other types of breast cancers emphasizes the need to better understand the molecular underpinnings of this disease with the goal of developing effective targeted therapeutics. Dysregulation of matriptase expression, an epithelial-specific member of the type II transmembrane serine protease family, has been demonstrated in many different cancer types. To date, no studies have assessed the expression and potential pro-oncogenic role of matriptase in IBC. We examined the functional relationship between matriptase and the HGF/c-MET signaling pathway in the IBC cell lines SUM149 and SUM190, and in IBC patient samples. Matriptase and c-Met proteins are localized on the surface membrane of IBC cells and their expression is strongly correlated in infiltrating cancer cells and in the cancer cells of lymphatic emboli in patient samples. Abrogation of matriptase expression by silencing with RNAi or inhibition of matriptase proteolytic activity with a synthetic inhibitor impairs the conversion of inactive pro-HGF to active HGF and subsequent c-Met-mediated signaling, leading to efficient impairment of proliferation and invasion of IBC cells. These data show the potential of matriptase inhibitors as a novel targeted therapy for IBC, and lay the groundwork for the development and testing of such drugs