Empowering statistical methods for cellular and molecular biologists.

We provide guidelines for using statistical methods to analyze the types of experiments reported in cellular and molecular biology journals such as Molecular Biology of the Cell. Our aim is to help experimentalists use these methods skillfully, avoid mistakes, and extract the maximum amount of information from their laboratory work. We focus on comparing the average values of control and experimental samples. A Supplemental Tutorial provides examples of how to analyze experimental data using R software

Open Markov processes: A compositional perspective on non-equilibrium steady states in biology

In recent work, Baez, Fong and the author introduced a framework for describing Markov processes equipped with a detailed balanced equilibrium as open systems of a certain type. These `open Markov processes' serve as the building blocks for more complicated processes. In this paper, we describe the potential application of this framework in the modeling of biological systems as open systems maintained away from equilibrium. We show that non-equilibrium steady states emerge in open systems of this type, even when the rates of the underlying process are such that a detailed balanced equilibrium is permitted. It is shown that these non-equilibrium steady states minimize a quadratic form which we call `dissipation.' In some circumstances, the dissipation is approximately equal to the rate of change of relative entropy plus a correction term. On the other hand, Prigogine's principle of minimum entropy production generally fails for non-equilibrium steady states. We use a simple model of membrane transport to illustrate these concepts

Enter late, exit early

Employment ; Labor supply

U.S. production abroad

Production (Economic theory) ; Productivity

Growth and the current account deficit

Balance of trade ; Budget deficits

Finally falling: unemployment duration

Unemployment ; Labor market

The Euro: new currency and new data

Euro

The role of the euro as an international currency

The creation of the euro will link an economy that is nearly as large and as open as the United States. Does this imply that the euro will rival the role of the dollar as an international currency? This paper addresses this question through an examination of the determinants of the use of an international currency. It examines both the prospects of the euro becoming an international currency and the implications for the European Union and the United States.European currency unit ; European Monetary System (Organization)

A look inside two central banks: the European Central Bank and the Federal Reserve

In 1998 the European Central Bank (ECB) became the world’s 173rd central bank. The Eurosystem, with its structure of national central banks and the ECB, is similar to the Federal Reserve System, with its District Banks and Board of Governors. However, important differences exist in the way the two systems operate. This article compares the organization and tasks of the two central banks by examining differences in their monetary policy frameworks, specifically focusing on the goals, tools, and policymaking process. In addition it examines the independence, accountability, and transparency of these central banks.European Central Bank ; Federal Reserve System ; Monetary policy