Interest Rates and Aggregate Corporate Investment

Using Swedish data between 1988 and 2014 we investigate if the real corporate borrowing interest rate has a significant effect on corporate investment. We find no proof of a connection between the change in investment and the fluctuations in the interest rate. However, our results indicate a relationship between present and expected demand and the rate of corporate investment. According to these results, the common belief among policy makers that lowe

A spatio-temporal study of regional house prices in Sweden

This paper uses a recently developed methodology to investigate the spatial and temporal diffusion patterns of a shock to the regional house markets in Sweden. We model the change in regional house prices such that they are allowed to be contemporaneously affected by price changes in the dominant region – Stockholm - as well as being allowed to be subject to a cointegrated relationship with its neighboring regions and Stockholm. Own lagged price effects as well as neighboring lag effects are also considered. We find that shocks to the Stockholm housing market contemporaneously affects Malmo and Gothenburg the most, leading us to believe that the relationship between regional housing markets in Sweden best can be explained by homogenous economic conditions within the regions

Serum Calprotectin, a Marker of Neutrophil Activation, and Other Mediators of Inflammation in Response to Various Types of Extreme Physical Exertion in Healthy Volunteers

Purpose: While extreme physical exertion is known to induce changes in the status of inflammation comparisons of the responses for various mediators of inflammation after acute bouts of high-intensity exercise have been limited. Subjects and Methods: We examined the responses in serum levels of novel inflammatory proteins, calprotectin, suPAR, CD163, and pro- and anti-inflammatory cytokines in 12 physically active volunteers (10 men, 2 women, mean age 37 +/- 14 years) before and after completing various types of extreme physical exertion (marathon run, half-marathon run or 24-h cross-country skiing). For comparisons, the levels of the biomarkers were also measured at rest in 30 healthy controls (25 men, 5 women, mean age 42 +/- 12 years) with low or sedentary activity. Results: Extreme physical exertion induced significant increases in serum calprotectin (p <0.0005), suPAR (p <0.01), CD163 (p <0.05), IL-6 (p <0.0005), IL-8 (p <0.01) and IL-10 (p <0.0005) (pre- vs 3h-post-exercise). These responses were found to normalize within 48 hours. While the increases in blood leukocytes were of similar magnitude following the different types of exercise, markedly more pronounced responses occurred in serum TNF-alpha (p <0.01), IL-8 (p <0.01) and CD163 (p <0.05) in those with more intense activity. In 3-h post-exercise samples significant correlations were observed between serum calprotectin and IL-6 (r(s) = 0.720, p <0.01), IL-10 (r(s) = 0.615, p <0.05), TNF-alpha (r(s) = 0.594, p <0.05), suPAR (r(s) = 0.587, p <0.05) and blood leukocytes (r(s) = 0.762, p <0.01). Conclusion: The present results suggest distinct exercise-intensity dependent changes in mediators of inflammation (including calprotectin, suPAR and CD163) following extreme physical exertion. Our findings indicate that there is a major reversible impact of high-intensity physical exertion on the status of inflammation.Peer reviewe

Impact of Physical Activity on the Characteristics and Metabolic Consequences of Alcohol Consumption : A Cross-Sectional Population-Based Study

Sedentary lifestyle and excessive alcohol drinking are major modifiable risk factors of health. In order to shed further light on the relationships between physical activity and health consequences of alcohol intake, we measured biomarkers of liver function, inflammation, lipid status and fatty liver index tests in a large population-based sample of individuals with different levels of physical activity, alcohol drinking and other lifestyle risk factors. The study included 21,050 adult participants (9940 men, 11,110 women) (mean age 48.2 ± 13.3 years) of the National FINRISK Study. Data on physical activity, alcohol drinking, smoking and body weight were recorded. The participants were classified to subgroups according to gender, levels of physical activity (sedentary, low, moderate, vigorous, extreme), alcohol drinking levels (abstainers, moderate drinkers, heavy drinkers) and patterns (regular or binge, types of beverages preferred in consumption). Serum liver enzymes (GGT, ALT), C-reactive protein (CRP) and lipid profiles were measured using standard laboratory techniques. Physical activity was linearly and inversely related with the amount of alcohol consumption, with the lowest alcohol drinking levels being observed in those with vigorous or extreme activity (p < 0.0005). Physically active individuals were less frequently binge-type drinkers, cigarette smokers or heavy coffee drinkers than those with sedentary activity (p < 0.0005 for linear trend in all comparisons). In the General Linear Model to assess the main and interaction effects of physical activity and alcohol consumption on biomarker status, as adjusted for anthropometric measures, smoking and coffee consumption, increasing levels of physical activity were found to be associated with more favorable findings on serum GGT (p < 0.0005), ALT (p < 0.0005 for men), cholesterol (p = 0.025 for men; p < 0.0005 for women), HDL-cholesterol (p < 0.0005 for men, p = 0.001 for women), LDL-cholesterol (p < 0.03 for men), triglycerides (p < 0.0005 for men, p < 0.03 for women), CRP (p < 0.0005 for men, p = 0.006 for women) and fatty liver index (p < 0.0005). The data support the view that regular moderate to vigorous physical activity may counteract adverse metabolic consequences of alcohol consumption on liver function, inflammation and lipid status. The role of physical activity should be further emphasized in interventions aimed at reducing health problems related to unfavorable risk factors of lifestyle.publishedVersionPeer reviewe

Protocol for an individual patient data meta-analysis on blood pressure targets after cardiac arrest

Background Hypotension is common after cardiac arrest (CA), and current guidelines recommend using vasopressors to target mean arterial blood pressure (MAP) higher than 65 mmHg. Pilot trials have compared higher and lower MAP targets. We will review the evidence on whether higher MAP improves outcome after cardiac arrest. Methods This systematic review and meta-analysis will be conducted based on a systematic search of relevant major medical databases from their inception onwards, including MEDLINE, Embase and the Cochrane Central Register of Controlled Trials (CENTRAL), as well as clinical trial registries. We will identify randomised controlled trials published in the English language that compare targeting a MAP higher than 65-70 mmHg in CA patients using vasopressors, inotropes and intravenous fluids. The data extraction will be performed separately by two authors (a third author will be involved in case of disagreement), followed by a bias assessment with the Cochrane Risk of Bias tool using an eight-step procedure for assessing if thresholds for clinical significance are crossed. The outcomes will be all-cause mortality, functional long-term outcomes and serious adverse events. We will contact the authors of the identified trials to request individual anonymised patient data to enable individual patient data meta-analysis, aggregate data meta-analyses, trial sequential analyses and multivariable regression, controlling for baseline characteristics. The certainty of the evidence will be assessed by the Grading of Recommendations, Assessment, Development and Evaluation (GRADE) system. We will register this systematic review with Prospero and aim to redo it when larger trials are published in the near future. Conclusions This protocol defines the performance of a systematic review on whether a higher MAP after cardiac arrest improves patient outcome. Repeating this systematic review including more data likely will allow for more certainty regarding the effect of the intervention and possible sub-groups differences.Peer reviewe

Evaluation of the Finnish National Biodiversity Action Plan 1997-2005

The results of the evaluation of the Finnish National Biodiversity Action Plan 1997-2005 indicate clear changes towards better consideration of biodiversity in the routines and policies of many sectors of the administration and economy. There are many indications that actors across society have recognized the need to safeguard biodiversity and have begun to adjust their practices accordingly. Several concrete measures have been undertaken in forests, agricultural habitats and in other habitats significantly affected by human activities. Biodiversity research has expanded significantly and the knowledge of Finland´s biological diversity has increased. In general, the Action Plan has supported public discussion of the need to safeguard biodiversity and this discussion has resulted in more positive attitudes towards nature conservation.So far, however, the implemented measures have not been sufficiently numerous or efficient to stop the depletion of original biological diversity. Many habitats remain far from their original state. More species will become endangered in the immediate future unless more effective and far-reaching measuresare taken. The objective of the EU to halt the decline of biodiversity by 2010 will not be achieved given the current development. Although the deterioration in biodiversity may have slowed down in several cases, many economic activities continue to have a negative impact on biodiversity. The scale of these activities is normally greater than that of the measures taken to manage and restore biodiversity.The evaluation focused on detecting changes in the administration of key sectors, analysing the recent development of biodiversity and observing interlinkages between these two. The analysis of administrative measures was based on interviews and on examining policy documents, reports and other relevant literature. The analysis covered changes in the administration of nature conservation, forestry,  agriculture, land use and regional and development cooperation. The analysis of the development of biodiversity was based on employing 75 pressure, state, impact and response indicators. There were 5 to 15 indicators for each of the nine major habitat types of Finland.Three separate case studies were made to provide further insights into some key issues: 1) A GISanalysis was made of the development of land use patterns in North Karelia and south-west Finland between 1990 and 2000, 2) two scenarios on the development of forest structure in North Karelia until 2050 were developed using a special MELA-model and 3) the cost-effectiveness of the agri-environmental support scheme was examined by comparing different land allocation choices and their effects on biodiversity on an average farm in southern Finland. The evaluation also paid special attention to the role of research in safeguarding biodiversity and reflected Finnish experiences against an international background