Entry Restrictions, Industry Evolution and Dynamic Efficiency: Evidence from Commercial Banking

This paper shows that bank performance improves significantly after restrictions on bank expansion are lifted. We find that operating costs and loan losses decrease sharply after states permit statewide branching, and--to a lesser extent--after states allow interstate banking. The improvements following branching deregulation appear to occur because better banks grow at the expense of their less efficient rivals. By retarding the "natural" evolution of the industry, branching restrictions reduced the performance of the average banking asset. We also find that most of the reduction in banks' costs were passed along to bank borrowers in the form of lower loan rates.

Philp E. Band to Mr. Meredith (2 October 1962)

https://egrove.olemiss.edu/mercorr_pro/1476/thumbnail.jp

Social or economic class? False dichotomies, reductionism and abstract categories

Against the backdrop of socio-economic conflict, this paper analyses a number of approaches to classes in the economics, political economy and sociology literatures. Our argument is structured into two themes which consider: (i) class and individualism; (ii) social and economic classes. We also consider deductive and inductive class analyses within these themes. This typology is used to classify the methodological approaches of scholars from a variety of traditions, thereby providing a basis for assessing their congruence, and the plausibility of developing an integrated perspective on class, spanning heterodox economics and sociology. Initial discussion considers classical political economy and its Marxian derivatives, including Lenin’s criteria for categorising classes, and relatively recent approaches derived from economics, political economy (in the Marxian tradition), and sociology. Based on our analysis of the two themes identified we argue that the abstract pairs of categories — class-individual, social-economic — should not be falsely dichotomised. In addition, we argue that a reductionist approach to class (be it economic or micro-reductionism) only provides a partial account, and fails to capture the complexity of class in relation to other forms of social stratification

Predicting Gene Expression from Sequence: A Reexamination

Although much of the information regarding genes' expressions is encoded in the genome, deciphering such information has been very challenging. We reexamined Beer and Tavazoie's (BT) approach to predict mRNA expression patterns of 2,587 genes in Saccharomyces cerevisiae from the information in their respective promoter sequences. Instead of fitting complex Bayesian network models, we trained naïve Bayes classifiers using only the sequence-motif matching scores provided by BT. Our simple models correctly predict expression patterns for 79% of the genes, based on the same criterion and the same cross-validation (CV) procedure as BT, which compares favorably to the 73% accuracy of BT. The fact that our approach did not use position and orientation information of the predicted binding sites but achieved a higher prediction accuracy, motivated us to investigate a few biological predictions made by BT. We found that some of their predictions, especially those related to motif orientations and positions, are at best circumstantial. For example, the combinatorial rules suggested by BT for the PAC and RRPE motifs are not unique to the cluster of genes from which the predictive model was inferred, and there are simpler rules that are statistically more significant than BT's ones. We also show that CV procedure used by BT to estimate their method's prediction accuracy is inappropriate and may have overestimated the prediction accuracy by about 10%

Direct and indirect excitons in semiconductor coupled quantum wells in an applied electric field

An accurate calculation of the exciton ground and excited states in AlGaAs and InGaAs coupled quantum wells (CQWs) in an external electric field is presented. An efficient and straightforward algorithm of solving the Schrodinger equation in real space has been developed and exciton binding energies, oscillator strengths, lifetimes, and absorption spectra are calculated for applied electric fields up to 100 kV/cm. It is found that in symmetric 8-4-8 nm GaAs/Al(0.33)Ga(0.67)As CQW structure, the ground state of the system switches from direct to indirect exciton at approximately 5 kV/cm with dramatic changes of its binding energy and oscillator strength while the bright excited direct-exciton state remains almost unaffected. It is shown that the excitonic lifetime is dominated either by the radiative recombination or by tunneling processes at small/large values of the electric field, respectively. The calculated lifetime of the exciton ground state as a function of the bias voltage is in a quantitative agreement with low-temperature photoluminescence measurements. We have also made freely available a numerical code for calculation of the optical properties of direct and indirect excitons in CQWs in an electric field.Comment: 12 pages, 11 figure

The cash incentive : the economic response of semi-subsistent craftworkers in Papua New Guinea

This study examines the income-earning potential, the cash expenditure behaviour and the work effort response of a sample of handloom wool weavers who operated in both the remote villages and urban towns of pre-independent Papua New Guinea. Its concern is thus with the response of these workers to the cash incentive. Although weaving represented the main cash-earning activity of the weaver households, they continued to rely on the nonmonetary traditional economy for a substantial part of their livelihood. In the Highlands of New Guinea non-monetary garden production contributed one-third of total household income during the study period. The weaving workforce was selected because of the homogeneity of work effort, because the quantity of work performed and the earning rates of individual workers could be calculated with some precision and because there was a high degree of freedom in the actual work-leisure choice of each participant. It was found that less than 40 per cent of the potential work time available to the average weaver was actually used in effective cash-earning work and, as such, average weekly earnings during the study period were less than 40 per cent of their potential

Treating and Preventing Influenza in Aged Care Facilities: A Cluster Randomised Controlled Trial

PMCID: PMC3474842This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited

Evaluation of Striped Bass Stocks in Virginia: Monitoring and Tagging Studies, 2015-2019 Progress Report 1 September 2014 - 31 August 2015

This report presents the results of striped bass (Morone saxatilis) tagging and monitoring activities in Virginia during the period 1 September 2014 through 31 August 2015. It includes an assessment of the biological characteristics of striped bass taken from the 2015 spring spawning run and estimates of annual survival and fishing mortality based on annual spring tagging. Also included is information on gear selectivity of recreational anglers for striped bass. The information contained in this report is required by the Atlantic States Marine Fisheries Commission and is used to implement a coordinated management plan for striped bass in Virginia, and along the eastern seaboard

Beneficial Effects of Resistance Exercise on Glycemic Control Are Not Further Improved by Protein Ingestion

Purpose: To investigate the mechanisms underpinning modifications in glucose homeostasis and insulin sensitivity 24 h after a bout of resistance exercise (RE) with or without protein ingestion. Methods: Twenty-four healthy males were assigned to a control (CON; n = 8), exercise (EX; n = 8) or exercise plus protein condition (EX+PRO; n = 8). Muscle biopsy and blood samples were obtained at rest for all groups and immediately post-RE (75% 1RM, 8×10 repetitions of leg-press and extension exercise) for EX and EX+PRO only. At 24 h post-RE (or post-resting biopsy for CON), a further muscle biopsy was obtained. Participants then consumed an oral glucose load (OGTT) containing 2 g of [U-13C] glucose during an infusion of 6, 6-[2H2] glucose. Blood samples were obtained every 10 min for 2 h to determine glucose kinetics. EX+PRO ingested an additional 25 g of intact whey protein with the OGTT. A final biopsy sample was obtained at the end of the OGTT. Results: Fasted plasma glucose and insulin were similar for all groups and were not different immediately post- and 24 h post-RE. Following RE, muscle glycogen was 26±8 and 19±6% lower in EX and EX+PRO, respectively. During OGTT, plasma glucose AUC was lower for EX and EX+PRO (75.1±2.7 and 75.3±2.8 mmol·L-1:120 min, respectively) compared with CON (90.6±4.1 mmol·L-1:120 min). Plasma insulin response was 13±2 and 21±4% lower for EX and CON, respectively, compared with EX+PRO. Glucose disappearance from the circulation was ~12% greater in EX and EX+PRO compared with CON. Basal 24 h post-RE and insulin-stimulated PAS-AS160/TBC1D4 phosphorylation was greater for EX and EX+PRO. Conclusions: Prior RE improves glycemic control and insulin sensitivity through an increase in the rate at which glucose is disposed from the circulation. However, co-ingesting protein during a high-glucose load does not augment this response at 24 h post-exercise in healthy, insulin-sensitive individuals

Transcriptional regulatory network analysis during epithelial-mesenchymal transformation of retinal pigment epithelium

PURPOSE: Phenotypic transformation of retinal pigment epithelial (RPE) cells contributes to the onset and progression of ocular proliferative disorders such as proliferative vitreoretinopathy (PVR). The formation of epiretinal membranes in PVR may involve an epithelial-mesenchymal transformation (EMT) of RPE cells as part of an aberrant wound healing response. While the underlying mechanism remains unclear, this likely involves changes in RPE cell gene expression under the control of specific transcription factors (TFs). Thus, the purpose of the present study was to identify TFs that may play a role in this process. METHODS: Regulatory regions of genes that are differentially regulated during phenotypic transformation of ARPE-19 cells, a human RPE cell line, were subjected to computational analysis using the promoter analysis and interaction network toolset (PAINT). The PAINT analysis was used to identify transcription response elements (TREs) statistically overrepresented in the promoter and first intron regions of two reciprocally regulated RPE gene clusters, across four species including the human genome. These TREs were then used to construct transcriptional regulatory network models of the two RPE gene clusters. The validity of these models was then tested using RT-PCR to detect differential expression of the corresponding TF mRNAs during RPE differentiation in both undifferentiated and differentiated ARPE-19 and primary chicken RPE cell cultures. RESULTS: The computational analysis resulted in the successful identification of specific transcription response elements (TREs) and their cognate TFs that are candidates for serving as nodes in a transcriptional regulatory network regulating EMT in RPE cells. The models predicted TFs whose differential expression during RPE EMT was successfully verified by reverse transcriptase polymerase chain reaction (RT-PCR) analysis, including Oct-1, hepatocyte nuclear factor 1 (HNF-1), similar to mothers against decapentaplegic 3 (SMAD3), transcription factor E (TFE), core binding factor, erythroid transcription factor-1 (GATA-1), interferon regulatory factor-1 (IRF), natural killer homeobox 3A (NKX3A), Sterol regulatory element binding protein-1 (SREBP-1), and lymphocyte enhancer factor-1 (LEF-1). CONCLUSIONS: These studies successfully applied computational modeling and biochemical verification to identify biologically relevant transcription factors that are likely to regulate RPE cell phenotype and pathological changes in RPE in response to diseases or trauma. These TFs may provide potential therapeutic targets for the prevention and treatment of ocular proliferative disorders such as PVR