Forecasting Housing Prices: Dynamic Factor Model versus LBVAR Model

The purpose of this paper is to compare the forecasting power of DFM and LBVAR models as they are used to forecast house price growth rates for 42 metropolitan areas in the United States. The forecasting performances of these two large-scale models are compared based on the Theil U-statistic.Housing market, DFM, LBVAR, dynamic PCA, Demand and Price Analysis,

The Causality of Foreign Direct Investment and Its Effects on Economic Growth: Re-estimated by a Directed Graph Approach

This paper uses the directed acyclic graph approach to analyze the causal patterns among foreign direct investment and other economic, social, and political variables, including GDP per capita as a proxy for economic growth. We find that economic growth causes FDI inflows for developing countries, while FDI induces economic growth for developed countries. Also, stock market is found to be an intermediary that amplifies the influence on FDI from many causal variables of FDI.FDI, economic growth, DAG, Financial Economics,

LL601 Contamination and Its Impact on U.S. Rice Prices

LL601 is a genetically modified rice variety and unapproved for commercial use. Its presence was found in commercial shipments of U.S. rice in 2006. This article explores its impact on prices and volume marketed for both the United States and Thailand, the major export competitor. The results show a significantly adverse but short duration effect on the U.S. rice market and little to no effect on the Thai rice market.cointegration, error correction model, event study analysis, GM contamination, LibertyLink Rice 601, U.S. rice exports, Agribusiness, Agricultural and Food Policy, Crop Production/Industries, Food Consumption/Nutrition/Food Safety, International Relations/Trade, Research and Development/Tech Change/Emerging Technologies, C10, C32, Q11, A52,

Analysis of The Housing Market in the Metropolitan Areas in the United States

The housing market plays a significant role in shaping the economic and social well-being of U.S. households. It helps spur U.S. economic growth when house prices rise, and drags the economic growth when house prices drop. In this dissertation, an analysis is conducted to project the direction of the U.S. housing market and to discover how it interacts with economic fundamentals. New pieces of information are found, which are deemed to facilitate decision making for both policy makers and investors. In the first part of the dissertation, the groupings of U.S. housing markets are studied using cluster and discriminant analysis. Three clusters are found, which are located in the central, the east coast, and the west coast of US. There are no price signals transmitted among these housing market clusters, nor within each cluster. Thus, the communication of information in the housing market is through the process of utility convergence of marginal residents, and no price convergence across regions is found. Next, the impact of credit constraint on the house prices is examined with the stochastic components of the price series being considered. Both a simulation technique and a DAG approach are employed. The resulting causal pattern shows that credit constraints affect the house prices directly and positively. Moreover, credit constraints work as an intermediary, passing the influence of the house investor, household income, and user cost onto house prices, which suggests that the credit relaxation policy should be carried out with caution when house inventory and household income send inconsistent signals. Last, the model selection for house price analysis is discussed from the perspective of large-scale models—dynamic factor (DFM) model and large-scale Bayesian VAR (LBVAR) model. The LBVAR models are found to have superior performance compared to the DFM model throughout the prediction period. Also, it is found that the combined forecasts do not necessarily outperform individual forecasts. Even though independent information from different individual models improves the forecast accuracy, the benefit gained from marginal information is offset by the larger error brought by such combination

Adenovirus-mediated sphingomyelin synthase 2 increases atherosclerotic lesions in ApoE KO mice

<p>Abstract</p> <p>Background</p> <p>Sphingomyelin synthase 2 (SMS2) contributes to de novo sphingomyelin (SM) biosynthesis. Its activity is related to SM levels in the plasma and the cell membrane. In this study, we investigated the possibility of a direct relationship between SMS and atherosclerosis.</p> <p>Methods</p> <p>The Adenovirus containing SMS2 gene was given into 10-week ApoE KO C57BL/6J mice by femoral intravenous injection. In the control group, the Adenovirus containing GFP was given. To confirm this model, we took both mRNA level examination (RT-PCR) and protein level examination (SMS activity assay).</p> <p>Result</p> <p>We generated recombinant adenovirus vectors containing either human SMS2 cDNA (AdV-SMS2) or GFP cDNA (AdV-GFP). On day six after intravenous infusion of 2 × 10¹¹particle numbers into ten-week-old apoE KO mice, AdV-SMS2 treatment significantly increased liver SMS2 mRNA levels and SMS activity (by 2.7-fold, 2.3-fold, p < 0.001, respectively), compared to AdV-GFP treated mice. Moreover, plasma total cholesterol (TC), low-density lipoprotein cholesterol (LDL-C), triglyceride (TG), and sphingomyelin (SM) levels were significantly increased by 39% (p < 0.05), 42% (p < 0.05), 68% (p < 0.001), and 45% (p < 0.05), respectively. Plasma high-density lipoprotein cholesterol (HDL-C), phosphatidylcholine (PC), and PC/SM ratio were decreased by 42% (p < 0.05), 18% (p < 0.05), and 45% (p < 0.05), respectively. On day 30, the atherosclerotic lesions on the aortic arch of AdV-SMS2 treated mice were increased, and the lesion areas on the whole aorta and in the aortic root were significantly increased (p < 0.001). Furthermore, the collagen content in the aorta root was significantly decreased (p < 0.01).</p> <p>Conclusions</p> <p>Our results present direct morphological evidence for the pro-atherogenic capabilities of SMS2. SMS2 could be a potential target for treating atherosclerosis.</p

Face Recognition with Facial Occlusion Based on Local Cycle Graph Structure Operator

Facial occlusion is a difficulty in the field of face recognition. The lack of features caused by occlusion may reduce the face recognition rate greatly. How to extract the identified features from the occluded faces has a profound effect on face recognition. This chapter presents a Local Cycle Graph Structure (LCGS) operator, which makes full use of the information of the pixels around the target pixel with its neighborhood of 3 × 3. Thus, the recognition with the extracted features is more efficient. We apply the extreme learning machine (ELM) classifier to train and test the features extracted by LCGS algorithm. In the experiment, we use the olivetti research laboratory (ORL) database to simulate occlusion randomly and use the AR database for physical occlusion. Physical coverings include scarves and sunglasses. Experimental results demonstrate that our algorithm yields a state-of-the-art performance

Pax3/7BP Is a Pax7- and Pax3-Binding Protein that Regulates the Proliferation of Muscle Precursor Cells by an Epigenetic Mechanism

SummaryIn mouse skeletal muscles, Pax7 uniquely marks muscle satellite cells and plays some important yet unknown functions at the perinatal stage. To elucidate its in vivo functions, we initiated a yeast two-hybrid screening to look for Pax7-interacting proteins and identified a previously uncharacterized Pax7- and Pax3-binding protein (Pax3/7BP). Pax3/7BP is a ubiquitously expressed nuclear protein, enriched in Pax7+ muscle precursor cells (MPCs), and serves as an indispensable adaptor for Pax7 to recruit the histone 3 lysine 4 (H3K4) methyltransferase (HMT) complex by bridging Pax7 and Wdr5. Knockdown of Pax3/7BP abolished the Pax3/7-associated H3K4 HMT activity and inhibited the proliferation of Pax7+ MPCs from young mice both in culture and in vivo. Id3 and Cdc20 were direct target genes of Pax7 and Pax3/7BP involved in the proliferation of Pax7+ MPCs. Collectively, our work establishes Pax3/7BP as an essential adaptor linking Pax3/7 with the H3K4 HMT to regulate the proliferation of MPCs