Chapter 3 The Impact of the Corporate Leniency Program on Cartel Formation and the Cartel Price Path

Previous research exploring the effect of corporate leniency programs has modeled the oligopoly stage game as a Prisoners\u27 Dilemma. Using numerical analysis, we consider the Bertrand price game and allow the probability of detection and penalties to be sensitive to firms\u27 prices. Consistent with earlier results, a maximal leniency program necessarily makes collusion more difficult. However, we also find that partial leniency programs—such as in the U.S.—can make collusion easier compared to offering no leniency. We also show that even if cartel formation is not deterred, a leniency program can reduce the prices charged by firms

Protein retention in the endoplasmic reticulum rescues Aβ toxicity in Drosophila

Amyloid β (Aβ) accumulation is a hallmark of Alzheimer's disease. In adult Drosophila brains, human Aβ overexpression harms climbing and lifespan. It's uncertain whether Aβ is intrinsically toxic or activates downstream neurodegeneration pathways. Our study uncovers a novel protective role against Aβ toxicity: intra-endoplasmic reticulum (ER) protein accumulation with a focus on laminin and collagen subunits. Despite high Aβ, laminin B1 (LanB1) overexpression robustly counters toxicity, suggesting a potential Aβ resistance mechanism. Other laminin subunits and collagen IV also alleviate Aβ toxicity; combining them with LanB1 augments the effect. Imaging reveals ER retention of LanB1 without altering Aβ secretion. LanB1's rescue function operates independently of the IRE1α/XBP1 ER stress response. ER-targeted GFP overexpression also mitigates Aβ toxicity, highlighting broader ER protein retention advantages. Proof-of-principle tests in murine hippocampal slices using mouse Lamb1 demonstrate ER retention in transduced cells, indicating a conserved mechanism. Though ER protein retention generally harms, it could paradoxically counter neuronal Aβ toxicity, offering a new therapeutic avenue for Alzheimer's disease

Solving OLG Models with Many Cohorts, Asset Choice and Large Shocks

The paper presents a computationally efficient method to solve overlapping generations models with asset choice. The method is used to study an OLG economy with many cohorts, up to 3 different assets, stochastic volatility, short-sale constraints, and subject to rather large technology shocks. On the methodological side, the main findings are that global projection methods with polynomial approximations of degree 3 are sufficient to provide a very precise solution, even in the case of large shocks. Globally linear approximations, in contrast to local linear approximations, are sufficient to capture the most important financial statistics, including not only the average risk premium, but also the variation of the risk premium over the cycle. However, global linear approximations are not sufficient to reliably pin down asset choices. With a risk aversion parameter of only 4, the model generates a price of risk, measured as the Sharpe ratio, that is almost half of what it is for US stocks. However, the asset price fluctuations and the equity premium are much smaller than in US data

Synopsis of Boraginaceae <em>sensu lato</em> in the Caatingas of the São Francisco River, Northeastern Brazil

This work presents a commented synopsis of Boraginaceae sensu lato in the basin of the lower-middle and lower stretches of the São Francisco River in Northeast Brazil (states of Pernambuco and Bahia). Five genera and 21 species were recorded: <em>Euploca</em>, with six species; <em>Cordia</em>, with five; <em>Varronia</em>, with four; and <em>Heliotropium</em> and <em>Myriopus</em>, represented by three species each. A new combination in the genus <em>Myriopus</em> is here proposed. Keys for the separation of genera and species as well as distributional and geographical data are provided.<br><br>Este trabajo presenta una sinopsis comentada de la familia Boraginaceae <em>sensu lato</em> en la cuenca media y baja del río São Francisco, nordeste del Brasil (estados de Pernambuco y Bahía). Se reconocen cinco géneros y 21 especies: <em>Euploca</em>, con seis especies; <em>Cordia</em>, con cinco; <em>Varronia</em>, con cuatro y <em>Heliotropium</em> y <em>Myriopus</em>, representados por tres especies cada. Se propone una combinación nueva en el género <em>Myriopus</em>. Así mismo, se aportan claves para la separación de los géneros y especies y datos sobre la distribución geográfica y la ecología de las especies

The Political Color of Fiscal Responsibility

We propose a dynamic general equilibrium model that yields testable implications about the fiscal policy run by governments of different political color. Successive generations of voters choose taxation, expenditure, and government debt through repeated elections. Voters are heterogeneous by age and by the intensity of their preferences for public good provision. The political equilibrium switches stochastically between left- (pro-public goods) and right-leaning (pro-private consumption) governments. A shift to the left (right) is associated with a fall (increase) in government debt, an increase (fall) in taxation, and an increase (fall) in government expenditures. However, left-leaning governments engage in more debt accumulation during recessions. These predictions are shown to be consistent with the time-series evidence for the United States in the postwar period, and also with the evidence for a panel of OECD countries

Sustained medically unexplained physical symptoms in euthymic patients with recurrent depression: Predictive value for recurrence and associations with omega 3- and 6 fatty acids and 5-HTTLPR?

AbstractBackgroundIdentification of potentially modifiable risk factors for recurrence in recurrent depression could provide opportunities to improve preventive interventions. In this study we aimed to examine the predictive value of medically unexplained physical symptoms (MUPS) on time to recurrence in recurrent depression. Additionally, to elucidate pathophysiological mechanisms that could explain the relations between MUPS and depression, we investigate the association between a sustained high level of MUPS, and (I) omega (ω)–3 and −6 fatty acid (FA)-status and (II) functional polymorphisms in the promoter region of the serotonin transporter gene (5-HTTLPR).MethodsBased on three Physical Symptom Checklist (PCS) scores over 12months, we defined two groups of remitted recurrently depressed patients: 41 patients with a sustained high number of MUPS and 34 patients with a sustained low number or no MUPS. Patients were followed-up for 3.5years while recurrence of their depression was monitored. In addition, we analyzed patients' erythrocyte's FA-profiles and triallelically genotyped their 5-HTTLPR.ResultsA sustained high level of MUPS predicted consecutive depression recurrence over 3.5years (adjusted relative risk 2.8). FA-status and distribution of 5-HTTLPR variant frequencies did not differ between patients with sustained high compared to low/absent MUPS-levels.LimitationsOur sample was relatively small.ConclusionRemitted recurrently depressed patients with sustained MUPS have a considerably increased risk of recurrence. Having sustained MUPS is not associated with either erythrocyte ω−3 or −6 FA-levels or 5-HTTLPR polymorphism. Recognition and reducing MUPS in an early state could prevent a (depressive) relapse