A Piece of the Puzzle: Can behavioral insights help understand currency returns?

This paper finds further evidence using a Cointegrated Vector Autoregression to support claims against the Uncovered Interest Rate Parity (UIP) ex post, referred to as the Forward Discount Anomaly (Fama, 1984). This anomaly suggests predictable profits simply from investing in a country with a higher interest rate. Potential explanations could be attributed to risk or deviations from the rational expectations hypothesis. UIP ex ante is tested using survey data. These results indicate a time-­‐ varying risk premium. Further it is found that this premium is related to the gap between the exchange rate and Purchasing-­‐Power-­‐Parity value. Additionally it is determined that investor expectations are consistent with some behavioral rules; extrapolative and adaptive expectations drive deviations from PPP which transitions to regressive expectations when the gap is very large

QUANTITATIVE ANALYSIS OF REPAIRED AND UNREPAIRED DAMAGE TO TRILOBITES FROM THE CAMBRIAN (STAGE 4, DRUMIAN) IBERIAN CHAINS, NE SPAIN

Repaired fossil skeletons provide the opportunity to study predation rates, repair mechanisms, and ecological interactions in deep time. Trilobites allow the study of repaired damage over long time periods and large geographic areas due to their longevity as a group, global distribution, and well-preserved mineralized exoskeletons. Repair frequencies on trilobites from three sites representing offshore marine environments in the Iberian Chains (Spain) show no injuries on 45 complete redlichiid thoraces from Minas Tierga (Huérmeda Formation, Cambrian Series 2, Stage 4), or 23 complete Eccaparadoxides pradoanus thoraces from Mesones de Isuela (Murero Formation, Cambrian Series 3, Drumian). Ten injuries on 69 E. pradoanus thoraces from Purujosa (Murero Formation, Cambrian Series 3, Drumian) were noted. There is no evidence for laterally asymmetric predation or size selection on the trilobites in this study. Weak evidence for selection for the rear of the thorax is documented. A series of injured trilobites illustrates four stages of the healing process. Analysis of injury locations and frequency suggests that injuries to these trilobites are predatory in origin. Semilandmark analysis of previously described exoskeletons with unrepaired damage assigned to the ichnotaxon Bicrescomanducator serratus alongside newly collected damaged exoskeletons from Purujosa (Mansilla and Murero Formations, Stage 5, Drumian), Mesones de Isuela (Murero Formation, Drumian), and Minas Tierga (Huérmeda Formation, Stage 4) found that shapes of biotic and abiotic breaks could not be distinguished.Department of Zoology, University of Oxford, Reino UnidoInstitute of Earth Sciences, University of Lausanne, SuizaPaleoscience Research Centre School of Environmental and Rural Science, University of New England, AustraliaUnidad de Zaragoza, Instituto Geológico y Minero de España, EspañaUnidad Asociada en Ciencias de la Tierra, Universidad de Zaragoza, Españ

The pre- and post-pitch-entry physical and technical responses of rugby league interchange players according to starting status

This study quantified the activities of interchange players during the 15 min before and 20 min after initial pitch-entry (INTentry) or re-entry (INTre−entry) for substitutes and starters, respectively, and identified relationships between pre- and post-pitch-entry responses. Fourteen semi-professional rugby league players wore Microelectromechanical Systems and were filmed throughout 10 matches in which they were interchanged (68 observations). Twelve physical and technical variables were analyzed for the pre-match warm-up, five, 10, and 15 min before INTentry or INTre−entry (physical variables only), and five min epochs following match-introduction. Linear mixed models indicated that during the 0–5 min following INTentry, physical and technical responses were typically greater (∼7.1% to 66.3%) than subsequent epochs while total (∼6.2%) and high-speed (37.1%) distance also exceeded the 0–5 min after INTre−entry (p < 0.05). Edge forwards reached higher peak speeds (11.4% to 11.7%) than hookers and middle forwards, but hookers completed more passes (87.4% to 90.5%). Pre-pitch-entry movements were positively associated with post-pitch-entry tackles (r = 0.43 to 0.49) and high-speed distance (r = 0.46), but negatively associated with total distance (r = −0.32 to −0.68). Within tolerable limits, increasing the activity performed during the ∼15 min before pitch-entry could benefit high-speed match-play performance indicators. Transient changes in post-pitch-entry physical and technical responses could reflect self-pacing strategies, contextual factors, or perceived preparedness. The apparent absence of progressive performance-limiting fatigue, characterized by a plateau in responses after the initial five min following INTentry or INTre−entry, may suggest a role for interchange players to provide a more sustained impact and thus achieve interchange objectives

Wandering Woodpeckers: Foray Behavior in a Social Bird

In many cooperatively breeding taxa, nonbreeding subordinates, or helpers, use extra-territorial forays to discover dispersal opportunities. Such forays are considered energetically costly and foraying birds face aggression from conspecific members of the territories they visit. In contrast, breeders in cooperatively breeding taxa are expected to foray seldomly. We used novel tracking technologies to follow 62 acorn woodpeckers (Melanerpes formicivorus), a cooperatively breeding bird, to study extra-territorial foray behavior. Both helpers and breeders engaged in extra-territorial forays routinely and often several times per day. Helpers forayed earlier in the day and invested more time when foraying to high-quality territories. Unexpectedly, breeders forayed as often and as far as helpers. Breeders from high-quality territories forayed closer to their home territories than breeders from low-quality territories, reflecting a potential trade-off between foraying and territory defense. Such a routine pattern of extra-territorial forays in both helpers and breeders suggests that the motives behind forays differ by sex and social status and involve more than simply searching for dispersal opportunities

Low threshold edge emitting polymer distributed feedback laser based on a square lattice

Copyright © 2005 American Institute of Physics. This article may be downloaded for personal use only. Any other use requires prior permission of the author and the American Institute of Physics. The following article appeared in Applied Physics Letters 86 (2005) and may be found at http://link.aip.org/link/?APPLAB/86/161102/1We report the demonstration of a low-threshold, edge-emitting polymer distributed feedback laser based on a square lattice. The lattice constant was 268 nm, which corresponds to a lattice line spacing in the ΓM symmetry direction of the Brillouin zone of 189 nm. The latter was employed to provide feedback at 630 nm via a first order diffraction process. The device operated on two longitudinal modes, which were situated on the band-edge near the M symmetry point. The two modes had thresholds of 0.66 nJ and 1.2 nJ—significantly lower than comparable surface-emitting DFB lasers. Angle dependent photoluminescence experiments were performed to investigate the effect of the square lattice on the laser operation and the origin of the low threshold

Refund to Savings 2013: Comprehensive Report on a Large-Scale Tax-Time Saving Program

Refund to Savings 2013: Comprehensive Report on a Large-Scale Tax-Time Saving Progra

Extended thromboprophylaxis with betrixaban in acutely ill medical patients

BACKGROUND: Patients with acute medical illnesses are at prolonged risk for venous thrombosis. However, the appropriate duration of thromboprophylaxis remains unknown. METHODS: Patients who were hospitalized for acute medical illnesses were randomly assigned to receive subcutaneous enoxaparin (at a dose of 40 mg once daily) for 10±4 days plus oral betrixaban placebo for 35 to 42 days or subcutaneous enoxaparin placebo for 10±4 days plus oral betrixaban (at a dose of 80 mg once daily) for 35 to 42 days. We performed sequential analyses in three prespecified, progressively inclusive cohorts: patients with an elevated d-dimer level (cohort 1), patients with an elevated d-dimer level or an age of at least 75 years (cohort 2), and all the enrolled patients (overall population cohort). The statistical analysis plan specified that if the between-group difference in any analysis in this sequence was not significant, the other analyses would be considered exploratory. The primary efficacy outcome was a composite of asymptomatic proximal deep-vein thrombosis and symptomatic venous thromboembolism. The principal safety outcome was major bleeding. RESULTS: A total of 7513 patients underwent randomization. In cohort 1, the primary efficacy outcome occurred in 6.9% of patients receiving betrixaban and 8.5% receiving enoxaparin (relative risk in the betrixaban group, 0.81; 95% confidence interval [CI], 0.65 to 1.00; P=0.054). The rates were 5.6% and 7.1%, respectively (relative risk, 0.80; 95% CI, 0.66 to 0.98; P=0.03) in cohort 2 and 5.3% and 7.0% (relative risk, 0.76; 95% CI, 0.63 to 0.92; P=0.006) in the overall population. (The last two analyses were considered to be exploratory owing to the result in cohort 1.) In the overall population, major bleeding occurred in 0.7% of the betrixaban group and 0.6% of the enoxaparin group (relative risk, 1.19; 95% CI, 0.67 to 2.12; P=0.55). CONCLUSIONS: Among acutely ill medical patients with an elevated d-dimer level, there was no significant difference between extended-duration betrixaban and a standard regimen of enoxaparin in the prespecified primary efficacy outcome. However, prespecified exploratory analyses provided evidence suggesting a benefit for betrixaban in the two larger cohorts. (Funded by Portola Pharmaceuticals; APEX ClinicalTrials.gov number, NCT01583218.)

Stigma of living as an autism carer: a brief psycho-social support intervention (SOLACE). Study protocol for a randomised controlled feasibility study.

Stigma is prominent in the lives of autistic individuals and their families and contributes significantly to the challenges faced by families raising an autistic child. Parents and carers can feel blamed for their child's behaviour, feel socially excluded and isolated and suffer from low self-esteem and poor psychological well-being. This increases the risk of experiencing self-stigma which further exacerbates these and other negative consequences. Therefore, there is a need for interventions that help parents/family carers cope with autism-related stigma as well as prevent the internalisation of stigma. The primary objective of this study is to assess the feasibility and acceptability of a stigma support intervention for parents and carers of autistic children titled 'Stigma of Living as an Autism Carer (SOLACE)'. The secondary objective is to explore the preliminary impact of the intervention on the mental health of the parents and carers. tests for differences within the group. Other outcomes of interest are stigma, self-stigma, self-esteem, self-blame, social isolation, self-compassion and perceived responsibility and control. Results from the feasibility randomised controlled trial will be used to refine the study protocol and inform the design of an intervention for future use in a larger, powered trial. SOLACE could potentially improve the psychological well-being of parents/family carers of autistic children through increased resistance to stigma. ISRCTN Registry number ISRCTN61093625 (October 13, 2017)

Clinical and Pathologic Changes in a Guinea Pig Aerosol Challenge Model of Acute Q Fever

Acute Q fever is a zoonotic disease caused by the obligate intracellular bacterium Coxiella burnetii and can manifest as a flu-like illness, pneumonia, or hepatitis. A need exists in Q fever research for animal models mimicking both the typical route of infection (inhalation) and the clinical illness seen in human cases of Q fever. A guinea pig aerosol challenge model was developed using C. burnetii Nine Mile phase I (RSA 493), administered using a specialized chamber designed to deliver droplet nuclei directly to the alveolar spaces. Guinea pigs were given 10(1) to 10(6) organisms and evaluated for 28 days postinfection. Clinical signs included fever, weight loss, respiratory difficulty, and death, with the degree and duration of response corresponding to the dose of organism delivered. Histopathologic evaluation of the lungs of animals infected with a high dose showed coalescing panleukocytic bronchointerstitial pneumonia at 7 days postinfection that resolved to multifocal lymphohistiocytic interstitial pneumonia by 28 days. Guinea pigs receiving a killed whole-cell vaccine prior to challenge with the highest dose of C. burnetii were protected against lethal infection and did not develop fever. Clinical signs and pathological changes noted for these guinea pigs were comparable to those seen in human acute Q fever, making this an accurate and valuable animal model of human disease