Is money irrelevant?

Money ; Income ; Inflation (Finance) ; Prices

Interest rates and economic announcements

Interest rates

Bank failures in banking panics: Risky banks or road kill?

Are banks that fail in banking panics the riskiest ones prior to the panics? The free banking era in the United States provides useful data to examine this question because the assets held by the banks were traded at the New York Stock Exchange. The authors estimate the ex ante riskiness of a bank’s portfolio by examining the portfolio relative to mean-variance frontiers and by examining the bank's leverage and notes relative to assets. The authors find that the ex ante riskiness of a bank’s portfolio helps predict which banks fail and the extent of noteholders’ losses in the event of failure.Risk ; Debt ; Bank supervision ; Bank failures

Are national stock markets linked?

Stock market

Do fundamentals, bubbles or neither determine stock prices? Some international evidence

Stock - Prices ; Stock market

On the algebraic K-theory of the complex K-theory spectrum

Let p>3 be a prime, let ku be the connective complex K-theory spectrum, and let K(ku) be the algebraic K-theory spectrum of ku. We study the p-primary homotopy type of the spectrum K(ku) by computing its mod (p,v_1) homotopy groups. We show that up to a finite summand, these groups form a finitely generated free module over a polynomial algebra F_p[b], where b is a class of degree 2p+2 defined as a higher Bott element.Comment: Revised and expanded version, 42 pages

The K-theoretic Farrell-Jones Conjecture for hyperbolic groups

We prove the K-theoretic Farrell-Jones Conjecture for hyperbolic groups with (twisted) coefficients in any associative ring with unit.Comment: 33 pages; final version; to appear in Invent. Mat

Imprinting, honeymooning, or maturing: Testing three theories of how interfirm social bonding impacts suppliers’ allocations of resources to business customers

In business markets, does strength of social bonds that a supplier perceives with a specific customer influence the supplier’s allocations of resources relative to other customers? If social bonding does uniquely impact supplier allocation of resources to customers, does the impact vary by relationship duration? Relationship marketing and Homans’ framework for social behavior are the theoretical bases for the study, which uses survey data to examine three alternative models that indicate how suppliers’ perceptions of social bonds with customers influence the suppliers’ allocations of resources over time. Analysis of data from sales and marketing managers confirms that two of these models, the imprinting theory and the maturity theory, are relevant. The findings indicate that relationship managers need to take into account the clear effect that creation of strong social bonds in buyer–seller relationships, as distinct from financial bonds, has on the way in which suppliers allocate resources to those relationships and how relationship duration affects the way in which they do so. The study strengthens the argument, on a strong theoretical base, to adopt a collaborative, as opposed to a transactional, approach to buyer–seller relationships

Perspective: Dietary Biomarkers of Intake and Exposure - Exploration with Omics Approaches

While conventional nutrition research has yielded biomarkers such as doubly labeled water for energy metabolism and 24-h urinary nitrogen for protein intake, a critical need exists for additional, equally robust biomarkers that allow for objective assessment of specific food intake and dietary exposure. Recent advances in high-throughput MS combined with improved metabolomics techniques and bioinformatic tools provide new opportunities for dietary biomarker development. In September 2018, the NIH organized a 2-d workshop to engage nutrition and omics researchers and explore the potential of multiomics approaches in nutritional biomarker research. The current Perspective summarizes key gaps and challenges identified, as well as the recommendations from the workshop that could serve as a guide for scientists interested in dietary biomarkers research. Topics addressed included study designs for biomarker development, analytical and bioinformatic considerations, and integration of dietary biomarkers with other omics techniques. Several clear needs were identified, including larger controlled feeding studies, testing a variety of foods and dietary patterns across diverse populations, improved reporting standards to support study replication, more chemical standards covering a broader range of food constituents and human metabolites, standardized approaches for biomarker validation, comprehensive and accessible food composition databases, a common ontology for dietary biomarker literature, and methodologic work on statistical procedures for intake biomarker discovery. Multidisciplinary research teams with appropriate expertise are critical to moving forward the field of dietary biomarkers and producing robust, reproducible biomarkers that can be used in public health and clinical research