Global versus local shocks in micro price dynamics

A number of recent papers point to the importance of distinguishing between the price reaction to micro and macro shocks in order to reconcile the volatility of individual prices with the observed persistence of aggregate inflation. We emphasize instead the importance of distinguishing between global and local shocks. We exploit a panel of 276 micro price levels collected on a semi-annual frequency from 1990 to 2010 across 88 cities in 59 countries around the world, that enables us to distinguish between different types (local and global) of micro and macro shocks. We find that global shocks have more persistent effects on prices as compared to local ones e.g. prices respond faster to local macro shocks than to global micro ones, implying that the relatively slow response of prices to macro shocks documented in recent studies comes from global rather than local sources. Global macro shocks have the most persistent effect on prices, with the majority of goods and locations sharing a single source of trend over time stemming from these shocks. Finally, both local macro and local micro shocks are associated with relatively fast price convergence.global shocks, local shocks, micro shocks, macro shocks, price adjustment, micro-macro gap, price-setting models, micro prices.

Quantifying Retail Agglomeration using Diverse Spatial Data

Newly available data on the spatial distribution of retail activities in cities makes it possible to build models formalized at the level of the single retailer. Current models tackle consumer location choices at an aggregate level and the opportunity new data offers for modeling at the retail unit level lacks an appropriate theoretical framework. The model we present here helps to address these issues. Based on random utility theory, we have built it around the idea of quantifying the role of floor-space and agglomeration in retail location choice. We test this model on the inner area of Greater London. The results are consistent with a super linear scaling of a retailer's attractiveness with its floorspace, and with an agglomeration effect approximated as the total retail floorspace within a 300 m radius from each shop. Our model illustrates many of the issues involved in testing and validating urban simulation models involving spatial data and its aggregation to different spatial scales

CDC6 (cell division cycle 6 homolog (S. cerevisiae))

Review on CDC6 (cell division cycle 6 homolog (S. cerevisiae)), with data on DNA, on the protein encoded, and where the gene is implicated

Wafer-scale uniformity of Dolan-bridge and bridgeless Manhattan-style Josephson junctions for superconducting quantum processors

We investigate die-level and wafer-scale uniformity of Dolan-bridge and bridgeless Manhattan Josephson junctions, using multiple substrates with and without through-silicon vias (TSVs). Dolan junctions fabricated on planar substrates have the highest yield and lowest room-temperature conductance spread, equivalent to ~100 MHz in transmon frequency. In TSV-integrated substrates, Dolan junctions suffer most in both yield and disorder, making Manhattan junctions preferable. Manhattan junctions show pronounced conductance decrease from wafer centre to edge, which we qualitatively capture using a geometric model of spatially-dependent resist shadowing during junction electrode evaporation. Analysis of actual junction overlap areas using scanning electron micrographs supports the model, and further points to a remnant spatial dependence possibly due to contact resistance.Comment: 25 pages, 13 figures, 1 tabl

Logical-qubit operations in an error-detecting surface code

We realize a suite of logical operations on a distance-two logical qubit stabilized using repeated error detection cycles. Logical operations include initialization into arbitrary states, measurement in the cardinal bases of the Bloch sphere, and a universal set of single-qubit gates. For each type of operation, we observe higher performance for fault-tolerant variants over non-fault-tolerant variants, and quantify the difference through detailed characterization. In particular, we demonstrate process tomography of logical gates, using the notion of a logical Pauli transfer matrix. This integration of high-fidelity logical operations with a scalable scheme for repeated stabilization is a milestone on the road to quantum error correction with higher-distance superconducting surface codes.Comment: 16 pages, 9 figures, 2 table

Immigration and prices: quasi-experimental evidence from Syrian refugees in Turkey

We exploit the regional variation in the unexpected (or forced) inflow of Syrian refugees as a natural experiment to estimate the impact of immigration on consumer prices in Turkey. Using a difference-in- differences strategy and a comprehensive data set on the regional prices of CPI items, we find that general level of consumer prices has declined by approximately 2.5 percent due to immigration. Prices of goods and services have declined in similar magnitudes. We highlight that the channel through which the price declines take place is the informal labor market. Syrian refugees supply inexpensive informal labor and, thus, substitute the informal native workers especially in informal labor intensive sectors. We document that prices in these sectors have fallen by around 4 percent, while the prices in the formal labor intensive sectors have almost remained unchanged. Increase in the supply of informal immigrant workers generates labor cost advantages and keeps prices lower in the informal labor intensive sectors

DNA methylation-based subtype prediction for pediatric acute lymphoblastic leukemia.

To access publisher's full text version of this article, please click on the hyperlink in Additional Links field or click on the hyperlink at the top of the page marked Files. This article is open access.We present a method that utilizes DNA methylation profiling for prediction of the cytogenetic subtypes of acute lymphoblastic leukemia (ALL) cells from pediatric ALL patients. The primary aim of our study was to improve risk stratification of ALL patients into treatment groups using DNA methylation as a complement to current diagnostic methods. A secondary aim was to gain insight into the functional role of DNA methylation in ALL.We used the methylation status of ~450,000 CpG sites in 546 well-characterized patients with T-ALL or seven recurrent B-cell precursor ALL subtypes to design and validate sensitive and accurate DNA methylation classifiers. After repeated cross-validation, a final classifier was derived that consisted of only 246 CpG sites. The mean sensitivity and specificity of the classifier across the known subtypes was 0.90 and 0.99, respectively. We then used DNA methylation classification to screen for subtype membership of 210 patients with undefined karyotype (normal or no result) or non-recurrent cytogenetic aberrations ('other' subtype). Nearly half (n = 106) of the patients lacking cytogenetic subgrouping displayed highly similar methylation profiles as the patients in the known recurrent groups. We verified the subtype of 20% of the newly classified patients by examination of diagnostic karyotypes, array-based copy number analysis, and detection of fusion genes by quantitative polymerase chain reaction (PCR) and RNA-sequencing (RNA-seq). Using RNA-seq data from ALL patients where cytogenetic subtype and DNA methylation classification did not agree, we discovered several novel fusion genes involving ETV6, RUNX1, and PAX5.Our findings indicate that DNA methylation profiling contributes to the clarification of the heterogeneity in cytogenetically undefined ALL patient groups and could be implemented as a complementary method for diagnosis of ALL. The results of our study provide clues to the origin and development of leukemic transformation. The methylation status of the CpG sites constituting the classifiers also highlight relevant biological characteristics in otherwise unclassified ALL patients.Swedish Foundation for Strategic Research RBc08-008 Swedish Cancer Society CAN2010/592 Swedish Childhood Cancer Foundation 11098 Swedish Research Council for Science and Technology 90559401 Swedish Research Council FORTE Swedish Research Council FORMAS Swedish Research Council VINNOVA Swedish Research Council VR 259-2012-2

DNA methylation-based subtype prediction for pediatric acute lymphoblastic leukemia

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