Is poor household saving the cause of New Zealand's high current account deficit?

The current account deficit in the balance of payments has frequently surfaced in public policy debate, with many commentators asserting that low household saving is a major cause of these deficits. Yet, in standard macroeconomic theory, both the current account balance and household saving are endogenous, so one can not cause the other. For any country in any given period, they may be positively or negatively correlated, or uncorrelated, depending on what causative factors were dominant at the time. Moreover, the current account balance is identical to the difference between national saving and investment. There is no general reason to expect it to move in lock step with the level of household saving. Consistently, pooled cross-country and time-series data indicate that simple correlations between the two variables are randomly scattered around zero. In the absence of proper analysis, unsubstantiated assertions about the role of household saving mislead public debate and invite the adoption of welfare-reducing policies, which may not even improve the balance of payments. The case for diverting attention from policies to lift economic growth to policies to improve the balance of payments seems to be not so much unproven as unexamined.Balance of payments, household savings rate, deficit, New Zealand

Systems Biology Markup Language (SBML) Level 2: Structures and Facilities for Model Definitions

With the rise of Systems Biology as a new paradigm for understanding biological processes, the development of quantitative models is no longer restricted to a small circle of theoreticians. The dramatic increase in the number of these models precipitates the need to exchange and reuse both existing and newly created models. The Systems Biology Markup Language (SBML) is a free, open, XML-based format for representing quantitative models of biological interest that advocates the consistent specification of such models and thus facilitates both software development and model exchange.

Principally oriented towards describing systems of biochemical reactions, such as cell signalling pathways, metabolic networks and gene regulation etc., SBML can also be used to encode any kinetic model. SBML offers mechanisms to describe biological components by means of compartments and reacting species, as well as their dynamic behaviour, using reactions, events and arbitrary mathematical rules. SBML also offers all the housekeeping structures needed to ensure an unambiguous understanding of quantitative descriptions.

This is Release 1 of the specification for SBML Level 2 Version 4, describing the structures of the language and the rules used to build a valid model. SBML XML Schema and other related documents and software are also available from the SBML project web site, "http://sbml.org/":http://sbml.org/

High index contrast photonic platforms for on-chip Raman spectroscopy

Nanophotonic waveguide enhanced Raman spectroscopy (NWERS) is a sensing technique that uses a highly confined waveguide mode to excite and collect the Raman scattered signal from molecules in close vicinity of the waveguide. The most important parameters defining the figure of merit of an NWERS sensor include its ability to collect the Raman signal from an analyte, i.e. "the Raman conversion efficiency" and the amount of "Raman background" generated from the guiding material. Here, we compare different photonic integrated circuit (PIC) platforms capable of on-chip Raman sensing in terms of the aforementioned parameters. Among the four photonic platforms under study, tantalum oxide and silicon nitride waveguides exhibit high signal collection efficiency and low Raman background. In contrast, the performance of titania and alumina waveguides suffers from a strong Raman background and a weak signal collection efficiency, respectively

Expression of cannabinoid receptors in human osteoarthritic cartilage: implications for future therapies

Introduction: Cannabinoids have shown to reduce joint damage in animal models of arthritis and reduce matrix metalloproteinase expression in primary human steoarthritic (OA) chondrocytes. The actions of cannabinoids are mediated by a number of receptors, including cannabinoid receptors 1 and 2 (CB1 and CB2), Gprotein-coupled receptors 55 and 18 (GPR55 and GPR18), transient receptor potential vanilloid-1 (TRPV1), and peroxisome proliferator-activated receptors alpha and gamma (PPARa and PPARc). However, to date very few studies have investigated the expression and localization of these receptors in human chondrocytes, and expression during degeneration, and thus their potential in clinical applications is unknown. Methods: Human articular cartilage from patients with symptomatic OA was graded histologically and the expression and localization of cannabinoid receptors within OA cartilage and underlying bone were determined immunohistochemically. Expression levels across regions of cartilage and changes with degeneration were investigated. Results: Expression of all the cannabinoid receptors investigated was observed with no change with grade of degeneration seen in the expression of CB1, CB2, GPR55, PPARa, and PPARc. Conversely, the number of chondrocytes within the deep zone of cartilage displaying immunopositivity for GPR18 and TRPV1 was significantly decreased in degenerate cartilage. Receptor expression was higher in chondrocytes than in osteocytes in the underlying bone. Conclusions: Chondrocytes from OA joints were shown to express a wide range of cannabinoid receptors even in degenerate tissues, demonstrating that these cells could respond to cannabinoids. Cannabinoids designed to bind to receptors inhibiting the catabolic and pain pathways within the arthritic joint, while avoiding psychoactive effects, could provide potential arthritis therapies. Key words: articular cartilage; cannabinoid receptors; cannabinoids; osteoarthriti

Ergodic properties of a model for turbulent dispersion of inertial particles

We study a simple stochastic differential equation that models the dispersion of close heavy particles moving in a turbulent flow. In one and two dimensions, the model is closely related to the one-dimensional stationary Schroedinger equation in a random delta-correlated potential. The ergodic properties of the dispersion process are investigated by proving that its generator is hypoelliptic and using control theory

Who knows best? Older people’s contribution to understanding and preventing avoidable hospital admissions

A report outlining the findings from a research project into older people's experiences of emergency admission to hospital and the possibilities for prevention. The overall study was funded by the NIHR Research for Patient Benefit programme (PB–PG–0712–28045), albeit the conclusions drawn are those of the research team and do not necessarily reflect those of the NIHR, the Department of Health or the NHS/social care. This research was carried out at the University of Birmingham

A SINFONI Integral Field Spectroscopy Survey for Galaxy Counterparts to Damped Lyman-alpha Systems - II. Dynamical Properties of the Galaxies towards Q0302-223 and Q1009-0026

Details of processes through which galaxies convert their gas into stars need to be studied in order to obtain a complete picture of galaxy formation. One way to tackle these phenomena is to relate the HI gas and the stars in galaxies. Here, we present dynamical properties of Damped and sub-Damped Lyman-alpha Systems identified in H-alpha emission with VLT/SINFONI at near infra-red wavelengths. While the DLA towards Q0302-223 is found to be dispersion-dominated, the sub-DLA towards Q1009-0026 shows clear signatures of rotation. We use a proxy to circular velocity to estimate the mass of the halo in which the sub-DLA resides and find M_halo=10^12.6 M_sun. We also derive dynamical masses of these objects, and find M_dyn=10^10.3 M_sun and 10^10.9 M_sun. For one of the two systems (towards Q0302-223), we are able to derive a stellar mass of M_*=10^9.5 M_sun from Spectral Energy Distribution fit. The gas fraction in this object is 1/3rd, comparable to similar objects at these redshifts. Our work illustrates that detailed studies of quasar absorbers can offer entirely new insights into our knowledge of the interaction between stars and the interstellar gas in galaxies.Comment: 6 pages, 2 figures. Accepted for publication in MNRA

The Challenge of Urban Heat Exposure under Climate Change: An Analysis of Cities in the Sustainable Healthy Urban Environments (SHUE) Database

The so far largely unabated emissions of greenhouse gases (GHGs) are expected to increase global temperatures substantially over this century. We quantify the patterns of increases for 246 globally-representative cities in the Sustainable Healthy Urban Environments (SHUE) database. We used an ensemble of 18 global climate models (GCMs) run under a low (RCP2.6) and high (RCP8.5) emissions scenario to estimate the increase in monthly mean temperatures by 2050 and 2100 based on 30-year averages. Model simulations were from the Coupled Model Inter-comparison Project Phase 5 (CMIP5). Annual mean temperature increases were 0.93 degrees Celsius by 2050 and 1.10 degrees Celsius by 2100 under RCP2.6, and 1.27 and 4.15 degrees Celsius under RCP8.5, but with substantial city-to-city variation. By 2100, under RCP2.6 no city exceeds an increase in Tmean > 2 degrees Celsius (relative to a 2017 baseline), while all do under RCP8.5, some with increases in Tmean close to, or even greater than, 7 degrees Celsius. The increases were greatest in cities of mid to high latitude, in humid temperate and dry climate regions, and with large seasonal variation in temperature. Cities are likely to experience large increases in hottest month mean temperatures under high GHG emissions trajectories, which will often present substantial challenges to adaptation and health protection

Pressure balance at the magnetopause: Experimental studies

The pressure balance at the magnetopause is formed by magnetic field and plasma in the magnetosheath, on one side, and inside the magnetosphere, on the other side. In the approach of dipole earth's magnetic field configuration and gas-dynamics solar wind flowing around the magnetosphere, the pressure balance predicts that the magnetopause distance R depends on solar wind dynamic pressure Pd as a power low R ~ Pd^alpha, where the exponent alpha=-1/6. In the real magnetosphere the magnetic filed is contributed by additional sources: Chapman-Ferraro current system, field-aligned currents, tail current, and storm-time ring current. Net contribution of those sources depends on particular magnetospheric region and varies with solar wind conditions and geomagnetic activity. As a result, the parameters of pressure balance, including power index alpha, depend on both the local position at the magnetopause and geomagnetic activity. In addition, the pressure balance can be affected by a non-linear transfer of the solar wind energy to the magnetosheath, especially for quasi-radial regime of the subsolar bow shock formation proper for the interplanetary magnetic field vector aligned with the solar wind plasma flow.Comment: 8 pages, 2 figure

Performance of the 2007 WHO Algorithm to diagnose Smear-negative Pulmonary Tuberculosis in a HIV prevalent setting

The 2007 WHO algorithm for diagnosis of smear-negative pulmonary tuberculosis (PTB) including Mycobacterium tuberculosis (MTB) culture was evaluated in a HIV prevalent area of Kenya