The reform of october 1979: how it happened and why

This study offers a historical review of the monetary policy reform of October 6, 1979, and discusses the influences behind it and its significance. We lay out the record from the start of 1979 through the spring of 1980, relying almost exclusively upon contemporaneous sources, including the recently released transcripts of Federal Open Market Committee (FOMC) meetings during 1979. We then present and discuss in detail the reasons for the FOMC's adoption of the reform and the communications challenge presented to the Committee during this period. Further, we examine whether the essential characteristics of the reform were consistent with monetarism, new, neo, or old-fashioned Keynesianism, nominal income targeting, and inflation targeting. The record suggests that the reform was adopted when the FOMC became convinced that its earlier gradualist strategy using finely tuned interest rate moves had proved inadequate for fighting inflation and reversing inflation expectations. The new plan had to break dramatically with established practice, allow for the possibility of substantial increases in short-term interest rates, yet be politically acceptable, and convince financial markets participants that it would be effective. The new operating procedures were also adopted for the pragmatic reason that they would likely succeed. JEL Klassifikation: E52, E58, E61, E65

Support for Instructional Leadership: Supervision, Mentoring, and Professional Development for U.S. School Leaders - Findings from the American School Leader Panel

With school leadership second only to teaching among school-related influences on student learning, principals can play an important role in school success. But how do their districts promote their effectiveness, especially in improving teaching? Based on a survey of the American School Leader Panel, a representative sample of principals from across the United States, this report explores the prevalence and quality of three important on-the-job supports for school leaders: supervision, mentorship and professional development (as defined by at least a day focused on principals). The good news is that two-thirds of principals report receiving some support. The bad news is that more than two thirds (68 percent) report that they don't receive all three sources of help. Mentoring, for example, is typically available only to first- or second-year principals or those encountering difficulties on the job, and only a minority of principals report that their districts require mentoring, even for first-year (49 percent of respondents) or struggling principals (21 percent). Also, the prevalence of support a principal receives may depend on the size of his or her school district. Both mentoring and professional development are more readily available in larger and medium-sized districts than smaller ones. The value principals place on the support they receive is linked to whether the support emphasizes the key aspect of principals' job—improving teachers' instruction. For example, all of the principals (100 percent) who reported that their mentors focused on instruction to a great extent also said that they prized the mentoring. That compares with a minority (40 percent) of principals who said their mentors devoted little to no time to instruction

The reform of October 1979: how it happened and why

This study offers a historical review of the monetary policy reform of October 6, 1979, and discusses the influences behind it and its significance. We lay out the record from the start of 1979 through the spring of 1980, relying almost exclusively upon contemporaneous sources, including the recently released transcripts of Federal Open Market Committee (FOMC) meetings during 1979. We then present and discuss in detail the reasons for the FOMC's adoption of the reform and the communications challenge presented to the Committee during this period. Further, we examine whether the essential characteristics of the reform were consistent with monetarism, new, neo, or old-fashioned Keynesianism, nominal income targeting, and inflation targeting. The record suggests that the reform was adopted when the FOMC became convinced that its earlier gradualist strategy using finely tuned interest rate moves had proved inadequate for fighting inflation and reversing inflation expectations. The new plan had to break dramatically with established practice, allow for the possibility of substantial increases in short-term interest rates, yet be politically acceptable, and convince financial markets participants that it would be effective. The new operating procedures were also adopted for the pragmatic reason that they would likely succeed.Monetary policy ; Federal Reserve System - History

The reform of October 1979: how it happened and why

This study offers a historical review of the monetary policy reform of October 6, 1979, and discusses the influences behind it and its significance. We lay out the record from the start of 1979 through the spring of 1980, relying almost exclusively on contemporaneous sources, including the recently released transcripts of Federal Open Market Committee (FOMC) meetings during 1979. We then present and discuss in detail the reasons for the FOMC's adoption of the reform and the communications challenge presented to the Committee during this period. Further, we examine whether the essential characteristics of the reform were consistent with monetarism; new, neo, or old-fashioned Keynesianism; nominal income targeting; and inflation targeting. The record suggests that the reform was adopted when the FOMC became convinced that its earlier gradualist strategy using finely tuned interest rate moves had proved inadequate for fighting inflation and reversing inflation expectations. The new plan had to break dramatically with established practice, allow for the possibility of substantial increases in short-term interest rates yet be politically acceptable, and convince financial market participants that it would be effective. The new operating procedures were also adopted for the pragmatic reason that they would likely succeed.Monetary policy ; Federal Open Market Committee ; Federal Reserve System - History

Study of effects of space power satellites on life support functions of the earth's magnetosphere

The effects of the Satellite Solar Power System (SSPS) on the life support functions of the earth's magnetosphere were investigated. Topics considered include: (1) thruster effluent effects on the magnetosphere; (2) biological consequences of SSPS reflected light; (3) impact on earth bound astronomy; (4) catastrophic failure and debris; (5) satellite induced processes; and (6) microwave power transmission. Several impacts are identified and recommendations for further studies are provided

Health-related quality of life and depression among participants in the Sjögren's International Collaborative Clinical Alliance registry.

ObjectiveTo examine health-related quality of life (HRQoL) and depression among participants in an international Sjögren's syndrome (SS) registry, comparing those with and without SS.MethodsCross-sectional study of participants in the Sjögren's International Collaborative Clinical Alliance (SICCA) registry. The 2016 American College of Rheumatology/European League Against Rheumatism SS classification criteria were used to determine disease status. HRQoL was assessed using the Short Form 12, version 2 Health Survey to derive scores for physical component summary (PCS) and mental component summary (MCS). Depression was assessed using the 9-Item Patient Health Questionnaire. Multivariate linear and logistic regression analyses were performed to identify predictors of HRQoL and depression while controlling for potential confounders.ResultsAmong 2401 SICCA participants who had symptoms of dry eyes and dry mouth, 1051 had SS (44%) and 1350 did not (56%). After controlling for confounders, when compared with non-SS participants, those with SS had better PCS (p<0.001, β=2.43, 95% CI 1.57 to 3.29), MCS (p=0.002, β=1.37, 95% CI 0.50 to 2.23) and lower adjusted odds of depression (p<0.001, OR 0.67, 95% CI 0.55 to 0.81). Other significant predictors of HRQoL and depression included employment, country of residence and use of medication with anticholinergic effect or for management of SS-related signs and symptoms.ConclusionOur results suggest that among symptomatic patients, having a diagnosis of SS may be associated with better emotional and psychological well-being compared with patients without a diagnosis. Having a definitive diagnosis of SS may encourage patients to obtain a better understanding of their disease and have coping mechanisms in place to better manage their symptoms

Abnormal infant islet morphology precedes insulin resistance in PCOS-like monkeys.

Polycystic ovary syndrome (PCOS) is prevalent in reproductive-aged women and confounded by metabolic morbidities, including insulin resistance and type 2 diabetes. Although the etiology of PCOS is undefined, contribution of prenatal androgen (PA) exposure has been proposed in a rhesus monkey model as premenopausal PA female adults have PCOS-like phenotypes in addition to insulin resistance and decreased glucose tolerance. PA female infants exhibit relative hyperinsulinemia, suggesting prenatal sequelae of androgen excess on glucose metabolism and an antecedent to future metabolic disease. We assessed consequences of PA exposure on pancreatic islet morphology to identify evidence of programming on islet development. Islet counts and size were quantified and correlated with data from intravenous glucose tolerance tests (ivGTT) obtained from dams and their offspring. Average islet size was decreased in PA female infants along with corresponding increases in islet number, while islet fractional area was preserved. Infants also demonstrated an increase in both the proliferation marker Ki67 within islets and the beta to alpha cell ratio suggestive of enhanced beta cell expansion. PA adult females have reduced proportion of small islets without changes in proliferative or apoptotic markers, or in beta to alpha cell ratios. Together, these data suggest in utero androgen excess combined with mild maternal glucose intolerance alter infant and adult islet morphology, implicating deviant islet development. Marked infant, but subtle adult, morphological differences provide evidence of islet post-natal plasticity in adapting to changing physiologic demands: from insulin sensitivity and relative hypersecretion to insulin resistance and diminished insulin response to glucose in the mature PCOS-like phenotype

Overcoming a Hurricane and Maintaining Wellness in College Student Physical Education

Background: With instructional time lost due to natural disasters, it is essential to examine the effect of a physical education course (PED 101) on college student well-being and motivation.Aim: This research examines the effect of physical education classes with a wellness component on wellness and motivation during a disruptive hurricane.Methods: A pre and posttest survey methodology was utilized to measure well-being and motivation, including by gender and exercise frequency, using the Wellness Inventory on college students enrolled in PED 101 who experienced Hurricane Florence.Results: All 12 dimensions of participants' wellness and their motivation to make changes in those wellness dimensions increased by the end of the hurricane semester. The results found significant changes between the pre- and post-assessment scores for all dimensions of wellness and motivation for male and female participants, as well as for all levels of exercise frequency.Conclusions: Including a well-being and motivation component in a college level physical education curriculum may enhance students' overall well-being and motivation during a disruptive hurricane

Long-Term Integrated Studies Show Complex and Surprising Effects of Climate Change in the Northern Hardwood Forest

Evaluations of the local effects of global change are often confounded by the interactions of natural and anthropogenic factors that overshadow the effects of climate changes on ecosystems. Long-term watershed and natural elevation gradient studies at the Hubbard Brook Experimental Forest and in the surrounding region show surprising results demonstrating the effects of climate change on hydrologic variables (e.g., evapotranspiration, streamflow, soil moisture); the importance of changes in phenology on water, carbon, and nitrogen fluxes during critical seasonal transition periods; winter climate change effects on plant and animal community composition and ecosystem services; and the effects of anthropogenic disturbances and land-use history on plant community composition. These studies highlight the value of long-term integrated research for assessments of the subtle effects of changing climate on complex ecosystems