Strategic Asset Allocation in a Continuous-Time VAR Model

This note derives an approximate solution to a continuous-time intertemporal portfolio and consumption choice problem. The problem is the continuous-time equivalent of the discrete-time problem studied by Campbell and Viceira (1999), in which the expected excess return on a risky asset follows an AR(1)process, while the riskless interest rate is constant. The note also shows how to obtain continuous-time parameters that are consistent with discrete-time econometric estimates. The continuous-time solution is numerically close to that of Campbell and Viceira and has the property that conservative long-term investors have a large positive intertemporal hedging demand for stocks.

A semiotic reflection on the didactics of the Chain rule

According to (Fried, 2008), there is an intrinsic tension in trying to apply the history of mathematics to its didactics. Besides the widespread feeling that the introduction of didactic elements taken from the history of mathematics can detract the pedagogy of mathematics from the attainment of important goals, (Fried, 2008, p. 193) describes a pair of specific pitfalls that can arise in implementing such historical applications in mathematics education. The description in (Fried, 2008), is presented in the parlance of Sausserian Semiotics and identifies two semiotic “deformations” that arise when one fails to observe that the pairing between signs and meanings in a given synchronic “cross-section” associated with the development of mathematics need not hold for another synchronic cross section at a different time. In this exposition, an example related to an application of the history of the chain rule to the didactics of calculus is presented. Our example illustrates the semiotic deformations alluded by (Fried, 2008), and points out a possible explanation of how this may lead to unrealistic pedagogical expectations for student performance. Finally, an argument is presented for the creation of a framework for a historical heuristics for mathematics education, possibly beyond the bounds of semiotics

Iron homeostasis in plants - a brief overview

Iron plays a crucial role in biochemistry and is an essential micronutrient for plants and humans alike. Although plentiful in the Earth's crust it is not usually found in a form readily accessible for plants to use. They must therefore sense and interact with their environment, and have evolved two different molecular strategies to take up iron in the root. Once inside, iron is complexed with chelators and distributed to sink tissues where it is used predominantly in the production of enzyme cofactors or components of electron transport chains. The processes of iron uptake, distribution and metabolism are overseen by tight regulatory mechanisms, at the transcriptional and post-transcriptional level, to avoid iron concentrations building to toxic excess. Iron is also loaded into seeds, where it is stored in vacuoles or in ferritin. This is important for human nutrition as seeds form the edible parts of many crop species. As such, increasing iron in seeds and other tissues is a major goal for biofortification efforts by both traditional breeding and biotechnological approaches

Improved linkage analysis of Quantitative Trait Loci using bulk segregants unveils a novel determinant of high ethanol tolerance in yeast

Background: Bulk segregant analysis (BSA) coupled to high throughput sequencing is a powerful method to map genomic regions related with phenotypes of interest. It relies on crossing two parents, one inferior and one superior for a trait of interest. Segregants displaying the trait of the superior parent are pooled, the DNA extracted and sequenced. Genomic regions linked to the trait of interest are identified by searching the pool for overrepresented alleles that normally originate from the superior parent. BSA data analysis is non-trivial due to sequencing, alignment and screening errors. Results: To increase the power of the BSA technology and obtain a better distinction between spuriously and truly linked regions, we developed EXPLoRA (EXtraction of over-rePresented aLleles in BSA), an algorithm for BSA data analysis that explicitly models the dependency between neighboring marker sites by exploiting the properties of linkage disequilibrium through a Hidden Markov Model (HMM). Reanalyzing a BSA dataset for high ethanol tolerance in yeast allowed reliably identifying QTLs linked to this phenotype that could not be identified with statistical significance in the original study. Experimental validation of one of the least pronounced linked regions, by identifying its causative gene VPS70, confirmed the potential of our method. Conclusions: EXPLoRA has a performance at least as good as the state-of-the-art and it is robust even at low signal to noise ratio's i.e. when the true linkage signal is diluted by sampling, screening errors or when few segregants are available

Ground- and excited-state electronic structure of an iron-containing molecular spin photoswitch

The electronic structure of the cation of [Fe(ptz)(6)](BF4)(2), a prototype of a class of complexes that display light-induced excited-state spin trapping (LIESST), has been investigated by time-independent and time-dependent density-functional theories. The density of states of the singlet ground state reveals that the highest occupied orbitals are metal centered and give rise to a low spin configuration Fe2+(3d(xy)(up arrow down arrow)3d(xz)(up arrow down arrow)3d(yz)(up arrow down arrow)) in agreement with experiment. Upon excitation with light in the 2.3-3.3 eV range, metal-centered spin-allowed but parity-forbidden ligand field (LF) antibonding states are populated which, in conjunction with electron-phonon coupling, explain the experimental absorption intensities. The computed excitation energies are in excellent agreement with experiment. Contrary to simpler models we show that the LF absorption bands, which are important for LIESST, do not originate in transitions from the ground to a single excited state but from transitions to manifolds of nearly degenerate excited singlets. Consistent with crystallography, population of the LF states promotes a drastic dilation of the ligand cage surrounding the iron. (C) 2005 American Institute of Physics

Enhanced skin carcinogenesis and lack of thymus hyperplasia in transgenic mice expressing human cyclin D1b (CCND1b)

Cyclin D1b is an alternative transcript of the cyclin D1 gene (CCND1) expressed in human tumors. Its abundance is regulated by a single base pair polymorphism at the exon 4/intron 4 boundary (nucleotide 870). Epidemiological studies have shown a correlation between the presence of the G870A allele (that favors the splicing for cyclin D1b) with increased risk and less favorable outcome in several forms of cancer. More recently, it has been shown that, unlike cyclin D1a, the alternative transcript D1b by itself has the capacity to transform fibroblasts in vitro. In order to study the oncogenic potential of cyclin D1b, we developed transgenic mice expressing human cyclin D1b under the control of the bovine K5 promoter (K5D1b mice). Seven founders were obtained and none of them presented any significant phenotype or developed spontaneous tumors. Interestingly, K5D1b mice do not develop the fatal thymic hyperplasia, which is characteristic of the cyclin D1a transgenic mice (K5D1a). Susceptibility to skin carcinogenesis was tested in K5D1b mice using two-stage carcinogenesis protocols. In two independent experiments, K5D1b mice developed higher papilloma multiplicity as compared with wild-type littermates. However, when K5D1b mice were crossed with cyclin D1KO mice, the expression of cyclin D1b was unable to rescue the carcinogenesis-resistant phenotype of the cyclin D1 KO mice. To further explore the role of cyclin D1b in mouse models of carcinogenesis we carried out in silico analysis and in vitro experiments to evaluate the existence of a mouse homologous of the human cyclin D1b transcript. We were unable to find any evidence of an alternatively spliced transcript in mouse Ccnd1. These results show that human cyclin D1b has different biological functions than cyclin D1a and confirm its oncogenic properties.Fil: Rojas, Paola Andrea. Consejo Nacional de Investigaciones Científicas y Técnicas. Instituto de Biología y Medicina Experimental. Fundación de Instituto de Biología y Medicina Experimental. Instituto de Biología y Medicina Experimental; Argentina. University of Texas; Estados UnidosFil: Benavides, Fernando. University of Texas; Estados UnidosFil: Blando, Jorge. University of Texas; Estados UnidosFil: Pérez, Carlos. University of Texas; Estados UnidosFil: Cardenas, Kim. University of Texas; Estados UnidosFil: Richie, Ellen. University of Texas; Estados UnidosFil: Knudsen, Erik S.. Thomas Jefferson University; Estados UnidosFil: Johnson, David G.. University of Texas; Estados UnidosFil: Senderowicz, Adrian M.. Department of Health and Human Services. Food and Drug Administration. Center for Drug Evaluation and Research; Estados UnidosFil: Rodriguez Puebla, Marcelo L.. University of North Carolina; Estados UnidosFil: Conti, Claudio. University of Texas; Estados Unido

The influence of numerical parameters on tidally triggered bar formation

The joint influence of numerical parameters such as the number of particles N, the gravitational softening length $\epsilon$ and the time-step $\Delta t$ is investigated in the context of galaxy simulations. For isolated galaxy models we have performed a convergence study and estimated the numerical parameters ranges for which the relaxed models do not deviate significantly from its initial configuration. By fixing N, we calculate the range of the mean interparticle separation $\lambda(r)$ along the disc radius. We have found that in the simulations with N=1310720 particles $\lambda$ varies by a factor of 6, and the corresponding final Toomre's parameters Q change by only about 5 per cent. By decreasing N, the $\lambda$ and Q ranges broaden. Large $\epsilon$ and small N cause an earlier bar formation. For a given set of parameters the disc heating is smaller with the Plummer softening than with the spline softening. For galaxy collision models numerical simulations indicate that the properties of the formed bars strongly depend upon the selection of N and $\epsilon$. Large values of the gravitational softening parameter and a small number of particles results in the rapid formation of a well defined, slowly rotating bar. On the other hand, small values of $\epsilon$ produce a small, rapidly rotating disc with tightly wound spiral arms, and subsequently a weak bar emerges. We have found that by increasing N, the bar properties converge and the effect of the softening parameter diminishes. Finally, in some cases short spiral arms are observed at the ends of the bar that change periodically from trailing to leading and vice-versa - the wiggle.Comment: 17 pages, 13 figures, 3 tables. Accepted for publication in A&A. A high resolution version of the paper is found at http://www.astro.inin.mx/ruslan/tidal_bars/gabbasov.pd

Gas-phase hydrodechlorination of mixtures of chloromethanes with activated carbon-supported platinum catalysts

Platinum catalysts supported on activated carbon (Pt/C) at different metal loadings (0.5-2% Pt) have been tested in the gas-phase hydrodechlorination (HDC) of mixtures of dichloromethane (DCM) and chloroform (TCM), with a total feed concentration of 1000ppmv. Almost complete dechlorination was achieved at 250°C, 1kghmol-1 space time and a H2/CM molar ratio of 25 with the 2% Pt catalyst. At a reaction temperature of 250°C, scarce inhibition in the conversion of both compounds was observed compared to the HDC of the individual chloromethanes. The TOF values for DCM increase with the Pt content, which can be attributed to the higher proportion of the zero-valent species. The selectivity to reaction products suggests a parallel reactions scheme. The catalysts showed a high stability, demonstrated by the unchanged conversion of both chloromethanes upon time on stream in long-term experiments carried out at up to 26h.The authors gratefully acknowledge financial support from the Spanish Ministerio de Economía y Competitividad (MINECO) through the project CTM2011-2835

Revisión crítica de la estimulación subtalámica en la enfermedad de Parkinson

The authors critically review subthalamic nucleus (STN) stimulation for Parkinson's disease (PD) at long follow-up (3-5 years). Subthalamic stimulation induce a significant improvement during the "off" medication in the assessment motor score UPDRS (Unified Parkinson Disease Rating Scale) 3-5 years after surgery. Results show that the benefits obtained in tremor, rigidity, bradykinesia, dyskinesias induced by medication and levodopa reduction are significantly maintained during long term. The improvement in other clinical signs as gait and postural stability at long follow-up are not maintained comparing with the benefits obtained one year after surgery. A high percentage of patients show a cognitive disturbance during the follow-up period that may be correlated with the disease progression. The conclusion is that bilateral STN stimulation is an effective treatment for PD patients at long term but it should be considered earlier in the course of P