Excess liquidity and bank lending risks in the euro area. Bruegel Policy Contribution Issue n˚16 | September 2018

In this Policy Contribution prepared for the European Parliament’s Committee on Economic and Monetary Affairs (ECON) as an input to the Monetary Dialogue, the authors clarify what excess liquidity is and argue that it is not a good indicator of whether banks’ have more incentives in risk-taking and look at indicators that might signal that bank lending in the euro area creates undue risks

The impact of industrial robots on EU employment and wages: A local labour market approach. Bruegel Working Paper Issue 02/18 April 2018

In theory, robots can directly displace workers from performing specific tasks (displacement effect). But they can also expand labour demand through the efficiencies they bring to industrial production (productivity effect). This working paper adopts the local labour market equilibrium approach developed by Acemoglu and Restrepo to assess which effects dominate and the impact of robots on wage growth and employment rate in Europe

The macroeconomic implications of healthcare. Bruegel Policy Contribution Issue n˚11 | August 2018

Health-care systems play a crucial role in supporting human health. They also have major macroeconomic implications, an aspect that is not always properly acknowledged. Countries spend very different amounts on healthcare, with spending in North America (Canada and the United States) more than twice as much per capita as in the European Union on average, and there are significant differences between EU countries too. Various explanatory factors such as income levels, population age structures and epidemiological profiles cannot explain the differences between countries. Decisions on the optimal level of spending should also consider various others factor, including the macroeconomic implications of health-care systems. Whatever amount is spent on health care, it should be spent efficiently, in order not to waste resources and to improve the macroeconomic impacts. We demonstrate that there are threshold effects whereby certain quantitative indicators of health tend to improve with increased spending only up to certain amount of spending, but not further. Using a standard method to measure efficiency, data envelopment analysis (DEA), we find significant differences between countries, suggesting that not all countries use existing technologies and best practices to their full potential. This finding calls for policy responses. Health-care systems matter for the macroeconomy because of their large size in output, employment and research. They also have direct fiscal implications in terms of the long-term sustainability of public finances, while health-care spending decisions influence short-term economic development through the fiscal multiplier effect, which is substantial. Most southern European countries cut health-care spending aggressively in recent years, likely amplifying the depth of their recessions and possibly causing hysteresis effects from long-term unemployment and reduced productivity. Fiscal consolidation strategies should aim to preserve spending items that have large fiscal multipliers, including health-care expenditures. Health-care systems also influence labour force participation, productivity and human capital formation through various channels, and thereby have an influence on overall macroeconomic outcomes. They also play an important role in inequality, and we find that inequality of access to health care is particularly high in about one-third of EU countries, which calls for policy responses. It is essential that discussions of health systems consider both the opportunity cost and the economic value of investing in health. Such an approach can help policymakers resist the temptation to default to the potentially inefficient status quo

An Automated Verification Workflow for Planned Lighting Setups using BIM

The use of Building Information Modeling (BIM) methods is becoming more and more established in the planning stage, during the construction, and for the management of buildings. Tailored BIM software packages allow to handle a vast amount of relevant aspects, but have so far not been covering specialized tasks like the evaluation of light distributions in and around a 3D model of a building. To overcome this limitation, we demonstrate the use of the open-source IFC format for preparing and exchanging BIM data to be used in our interactive light simulation system. By exploiting the availability of 3D data and semantic descriptions, it is possible to automatically place measurement surfaces in the 3D scene, and evaluate the suitability and sustainability of a planned lighting design according to given constraints and industry norms. Interactive visualizations for fast analysis of the simulation results, created using state-of-the-art web technologies, are seamlessly integrated in the 3D work environment, helping the lighting designer to quickly improve the initial lighting solution with a few clicks

Microscopic insight into the bilateral formation of carbon spirals from a symmetric iron core

Mirrored carbon-spirals have been produced from pressured ferrocene via the bilateral extrusion of the spiral pairs from an iron core. A parametric plot of the surface geometry displays the fractal growth of the conical helix made with the logarithmic spiral. Electron microscopy studies show the core is a crystalline cementite which grows and transforms its shape from spherical to biconical as it extrudes two spiralling carbon arms. In a cross section along the arms we observe graphitic flakes arranged in a herringbone structure, normal to which defects propagate. Local-wave-pattern analysis reveals nanoscale defect patterns of two-fold symmetry around the core. The data suggest that the bilateral growth originates from a globular cementite crystal with molten surfaces and the nano-defects shape emerging hexagonal carbon into a fractal structure. Understanding and knowledge obtained provide a basis for the controlled production of advanced carbon materials with designed geometries

Cannabinoids reduce melanoma cell viability and do not interfere with commonly used targeted therapy in metastatic melanoma in vivo and in vitro

Background: Cannabinoids are mainly used for recreational purposes, but also made their way into oncology, since these substances can be taken to increase appetite in tumour cachexia. Since there are some hints in the literature that cannabinoids might have some anti-cancerous effects, the aim of this study was to study if and how cannabinoids mediate pro-apoptotic effects in metastatic melanoma in vivo and in vitro and its value besides conventional targeted therapy in vivo. Methods: Several melanoma cell lines were treated with different concentrations of cannabinoids, and anti-cancerous efficacy was assessed by proliferation and apoptosis assays. Subsequent pathway analysis was performed using apoptosis, proliferation, flow cytometry and confocal microscopy data. The efficacy of cannabinoids in combination with trametinib was studied in NSG mice in vivo. Results: Cannabinoids reduced cell viability in multiple melanoma cell lines in a dose-dependent way. The effect was mediated by CB1, TRPV1 and PPARα receptors, whereby pharmacological blockade of all three receptors protected from cannabinoid-induced apoptosis. Cannabinoids initiated apoptosis by mitochondrial cytochrome c release with consecutive activation of different caspases. Essentially, cannabinoids significantly decreased tumour growth in vivo and were as potent as the MEK inhibitor trametinib. Conclusions: We could demonstrate that cannabinoids reduce cell viability in several melanoma cell lines, initiate apoptosis via the intrinsic apoptotic pathway by cytochrome c release and caspase activation and do not interfere with commonly used targeted therapy

A protein interaction atlas for the nuclear receptors: properties and quality of a hub-based dimerisation network

BACKGROUND: The nuclear receptors are a large family of eukaryotic transcription factors that constitute major pharmacological targets. They exert their combinatorial control through homotypic heterodimerisation. Elucidation of this dimerisation network is vital in order to understand the complex dynamics and potential cross-talk involved. RESULTS: Phylogeny, protein-protein interactions, protein-DNA interactions and gene expression data have been integrated to provide a comprehensive and up-to-date description of the topology and properties of the nuclear receptor interaction network in humans. We discriminate between DNA-binding and non-DNA-binding dimers, and provide a comprehensive interaction map, that identifies potential cross-talk between the various pathways of nuclear receptors. CONCLUSION: We infer that the topology of this network is hub-based, and much more connected than previously thought. The hub-based topology of the network and the wide tissue expression pattern of NRs create a highly competitive environment for the common heterodimerising partners. Furthermore, a significant number of negative feedback loops is present, with the hub protein SHP [NR0B2] playing a major role. We also compare the evolution, topology and properties of the nuclear receptor network with the hub-based dimerisation network of the bHLH transcription factors in order to identify both unique themes and ubiquitous properties in gene regulation. In terms of methodology, we conclude that such a comprehensive picture can only be assembled by semi-automated text-mining, manual curation and integration of data from various sources

Photocathode Behavior During High Current Running in the Cornell ERL Photoinjector

The Cornell University Energy Recovery Linac (ERL) photoinjector has recently demonstrated operation at 20 mA for approximately 8 hours, utilizing a multialkali photocathode deposited on a Si substrate. We describe the recipe for photocathode deposition, and will detail the parameters of the run. Post-run analysis of the photocathode indicates the presence of significant damage to the substrate, perhaps due to ion back-bombardment from the residual beamline gas. While the exact cause of the substrate damage remains unknown, we describe multiple surface characterization techniques (X-ray fluorescence spectroscopy, X-ray diffraction, atomic force and scanning electron microscopy) used to study the interesting morphological and crystallographic features of the photocathode surface after its use for high current beam production. Finally, we present a simple model of crystal damage due to ion back-bombardment, which agrees qualitatively with the distribution of damage on the substrate surface.Comment: 20 pages, 15 figure

The environmental footprint of health care: a global assessment

Background: Health-care services are necessary for sustaining and improving human wellbeing, yet they have an environmental footprint that contributes to environment-related threats to human health. Previous studies have quantified the carbon emissions resulting from health care at a global level. We aimed to provide a global assessment of the wide-ranging environmental impacts of this sector. Methods: In this multiregional input-output analysis, we evaluated the contribution of health-care sectors in driving environmental damage that in turn puts human health at risk. Using a global supply-chain database containing detailed information on health-care sectors, we quantified the direct and indirect supply-chain environmental damage driven by the demand for health care. We focused on seven environmental stressors with known adverse feedback cycles: greenhouse gas emissions, particulate matter, air pollutants (nitrogen oxides and sulphur dioxide), malaria risk, reactive nitrogen in water, and scarce water use. Findings: Health care causes global environmental impacts that, depending on which indicator is considered, range between 1% and 5% of total global impacts, and are more than 5% for some national impacts. Interpretation: Enhancing health-care expenditure to mitigate negative health effects of environmental damage is often promoted by health-care practitioners. However, global supply chains that feed into the enhanced activity of health-care sectors in turn initiate adverse feedback cycles by increasing the environmental impact of health care, thus counteracting the mission of health care. Funding: Australian Research Council, National eResearch Collaboration Tools and Resources project. © 2020 The Author(s). Published by Elsevier Ltd. This is an Open Access article under the CC BY 4.0 licens