Financial Transaction Tax: Small is Beautiful

The case for taxing financial transactions merely to raise more revenues from the financial sector is not particularly strong. Better alternatives to tax the financial sector are likely to be available. However, a tax on financial transactions could be justified in order to limit socially undesirable transactions when more direct means of doing so are unavailable for political or practical reasons. Some financial transactions are indeed likely to do more harm than good, especially when they contribute to the systemic risk of the financial system. However, such a financial transaction tax should be very small, much smaller than the negative externalities in question, because it is a blunt instrument that also drives out socially useful transactions. There is a case for taxing over-the-counter derivative transactions at a somewhat higher rate than exchange-based derivative transactions. More targeted remedies to drive out socially undesirable transactions should be sought in parallel, which would allow, after their implementation, to reduce or even phase out financialtransaction taxes

Extension of Type 2 Diabetes Genome-Wide Association Scan Results in the Diabetes Prevention Program

OBJECTIVE— Genome-wide association scans (GWASs) have identified novel diabetes-associated genes. We evaluated how these variants impact diabetes incidence, quantitative glycemic traits, and response to preventive interventions in 3,548 subjects at high risk of type 2 diabetes enrolled in the Diabetes Prevention Program (DPP), which examined the effects of lifestyle intervention, metformin, and troglitazone versus placebo

Unprecedented early flux excess in the hybrid 02es-like type Ia supernova 2022ywc indicates interaction with circumstellar material

We present optical photometric and spectroscopic observations of the 02es-like type Ia supernova (SN) 2022ywc. The transient occurred in the outskirts of an elliptical host galaxy and showed a striking double-peaked light curve with an early excess feature detected in the ATLAS orange and cyan bands. The early excess is remarkably luminous with an absolute magnitude $\sim -19$, comparable in luminosity to the subsequent radioactively-driven second peak. The spectra resemble the hybrid 02es-like SN 2016jhr, that is considered to be a helium shell detonation candidate. We investigate different physical mechanisms that could power such a prominent early excess and rule out massive helium shell detonation, surface $^{56}$Ni distribution and ejecta-companion interaction. We conclude that SN ejecta interacting with circumstellar material (CSM) is the most viable scenario. Semi-analytical modelling with MOSFiT indicates that SN ejecta interacting with $\sim 0.05\,$M$_{\odot}$ of CSM at a distance of $\sim 10^{14}$ cm can explain the extraordinary light curve. A double-degenerate scenario may explain the origin of the CSM, either by tidally-stripped material from the secondary white dwarf, or disk-originated matter launched along polar axes following the disruption and accretion of the secondary white dwarf. A non-spherical CSM configuration could suggest that a small fraction of 02es-like events viewed along a favourable line of sight may be expected to display a very conspicuous early excess like SN 2022ywc.Comment: Accepted to ApJL after minor revisio

Homozygosity by descent mapping of blood pressure in the Old Order Amish: evidence for sex specific genetic architecture

<p>Abstract</p> <p>Background</p> <p>High blood pressure is a well established risk factor for morbidity and mortality acting through heart disease, stroke and cardiovascular disease. Genome wide scans have linked regions of nearly every human chromosome to blood pressure related traits. We have capitalized on beneficial qualities of the Old Order Amish of Lancaster, PA, a closed founder population with a relatively small number of founders, to perform a genome wide homozygosity by descent mapping scan. Each individual in the study has a non zero probability of consanguinity. Systolic and diastolic blood pressures are shown to have appreciable dominance variance components.</p> <p>Results</p> <p>Areas of two chromosomes were identified as suggestive of linkage to SBP and 5 areas to DBP in either the overall or sex specific analyses. The strongest evidence for linkage in the overall sample was to Chromosome 18q12 (LOD = 2.6 DBP). Sex specific analyses identified a linkage on Chromosome 4p12-14 (LOD in men only = 3.4 SBP). At Chromosome 2q32-33, an area where we previously reported significant evidence for linkage to DBP using a conventional identity by descent approach, the LOD was 1.4; however an appreciable sex effect was observed with men accounting for most of the linkage (LOD in men only = 2.6).</p> <p>Conclusion</p> <p>These results add evidence to a sex specific genetic architecture to blood pressure related traits, particularly in regions of linkage on chromosome 2, 4 and 18.</p

Non-CO2 generating energy shares in the world : cross-country differences and polarization.

The aim of this paper is to examine the spatial distribution of non-CO2 generating energy sources in the world for the period 1990–2009, paying special attention to the evolution of cross-country disparities. To this end, after carrying out a classical convergence analysis, a more thorough investigation of the entire distribution is presented by examining its external shape, the intra-distribution dynamics and the long-run equilibrium distribution. This analysis reveals the existence of a weak, rather insignificant, convergence process and that large crosscountry differences are likely to persist in the long-run. Next, as polarization indicators are a proper way of appraising potential conflict in international environmental negotiations, we test whether, or not, the distribution dynamics concurs with the presence of polarization. Our results indicate that two poles can be clearly differentiated, one with high and other with low non-CO2 generating energy shares. In view of these findings, and to ensure a fair transition to a sustainable energy system, the paper calls for the development of an ambitious clean energy agenda, especially in countries with low non-CO2 generating energy shares