Permanent and temporary shocks to government spending: an empirical approach

Cointegration between government spending and output is rarely considered in fiscal re­search. Motivated by this potential long ­run relationship, the paper focuses on separating temporary from permanent shocks to government spending using a SVECM. In particular,thisdecompositionrevealsthatgovernmentexpendituredataisindeedamixofstabilisationinterventions and responses to economic growth. The interpretation of these shocks is thenusedtoinfertheconsequencesoftemporaryincreasesingovernmentspending. Controlling for cointegration delivers results consistent with existent literature, yet the effects seem to be less persistent as the impact on output rapidly converges to zero

Determinants of zombie firms in the eurozone

Mestrado Bolonha em FinançasEste trabalho pretende analisar os determinantes de empresas zombie. Empresas zombie são empresas que sobrevivem apesar de apresentarem resultados negativos continuamente. Este estudo utiliza uma definição principal (empresa deve ter mais de 10 anos e apresentar uma taxa de cobertura de juros inferior a 1 por três anos consecutivos) e uma definição alternativa (definição principal e apresentar um rácio Tobin’s q e um ROE inferior à média do sector, por três anos consecutivos). Empresas zombie representam um fenómeno negativo, pois resultam em efeitos negativos sobre a produtividade e crescimento de outras empresas. Assim, a questão principal é: “Quais são os determinantes de empresas zombie na Zona Euro?”. As conclusões poderão ajudar a identificar, prever e evitar empresas zombie. Concluímos que empresas zombie são frequentemente pequenas e médias empresas, com 40 anos e que laboram em Consumo, Indústria, Saúde e Tecnologia. A probabilidade de uma empresa ser zombie cresce com corrupção, rácio de dívida e intangíveis e decresce com competitividade, ROA e rácio de liquidez. Concluímos também que cerca de 11% e 5.5% das observações são empresas zombie, sob a definição principal e alternativa, respetivamente.This paper aims to study zombie firms’ determinants. Zombie firms are firms who manage to survive although they keep reporting negative equity. This paper uses a primary zombie definition (firm over 10 years old with an ICR below 1 for three years in a row) and an alternative definition (primary definition and a Tobin’s q ratio and an ROE below-median within the sector, for three years in a row). Zombie firms are a negative phenomenon who result in negative effects on other firms’ productivity and growth. Thus, the research question is: “What are the determinants of zombie firms in the Eurozone?”. Conclusions can be used to identify, predict, and avoid zombie firms. We find that zombie firms are often SME, around 40 years old and mostly present in the Consumer Cyclicals, Industrials, Healthcare and Technology. The probability of a firm being a zombie grows with corruption, debt ratio and intangibles and decreases with competitiveness, current ratio, and ROA. We also find that zombie firms represent around 11% and 5.5% of our observations under the primary and alternative definitions, respectively.info:eu-repo/semantics/publishedVersio

Plant-produced viral bovine vaccines: What happened during the last ten years?

Vaccination has proved to be an efficient strategy to deal with viral infections in both human and animal species. However, protection of cattle against viral infections is still a major concern in veterinary science. During the last two decades, the development of efficient plant‐based expression strategies for recombinant proteins prompted the application of this methodology for veterinary vaccine purposes. The main goals of viral bovine vaccines are to improve the health and welfare of cattle and increase the production of livestock, in a cost‐effective manner. This review explores some of the more prominent recent advances in plant‐made viral bovine vaccines against foot‐and‐mouth disease virus (FMDV), bovine rotavirus (BRV), bovine viral diarrhoea virus (BVDV), bluetongue virus (BTV) and bovine papillomavirus (BPV), some of which are considered to be the most important viral causative agents of economic loss in cattle production.Fil: Ruiz, Vanesa. Instituto Nacional de Tecnología Agropecuaria. Centro de Investigación en Ciencias Veterinarias y Agronómicas. Instituto de Virología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaFil: Mozgovoj, Marina Valeria. Instituto Nacional de Tecnología Agropecuaria. Centro de Investigación en Ciencias Veterinarias y Agronómicas. Instituto de Virología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaFil: Dus Santos, María José. Instituto Nacional de Tecnología Agropecuaria. Centro de Investigación en Ciencias Veterinarias y Agronómicas. Instituto de Virología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaFil: Wigdorovitz, Andrés. Instituto Nacional de Tecnología Agropecuaria. Centro de Investigación en Ciencias Veterinarias y Agronómicas. Instituto de Virología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentin

Implications of storage and handling conditions on glass transition and potential devitrification of oocytes and embryos

Devitrification, the process of crystallization of a formerly crystal-free, amorphous glass state, can lead to damage during the warming of cells. The objective of this study was to determine the glass transition temperature of a cryopreservation solution typically used in the vitrification, storage, and warming of mammalian oocytes and embryos using differential scanning calorimetry. A numerical model of the heat transfer process to analyze warming and devitrification thresholds for a common vitrification carrier (open-pulled straw) was conducted. The implications on specimen handling and storage inside the dewar in contact with nitrogen vapor phase at different temperatures were determined. The time required for initiation of devitrification of a vitrified sample was determined by mathematical modeling and compared with measured temperatures in the vapor phase of liquid nitrogen cryogenic dewars. Results indicated the glass transition ranged from -126°C to -121°C, and devitrification was initiated at -109°C. Interestingly, samples entered rubbery state at -121°C and therefore could potentially initiate devitrification above this value, with the consequent damaging effects to cell survival. Devitrification times were calculated considering an initial temperature of material immersed in liquid nitrogen (-196°C), and two temperatures of liquid nitrogen vapors within the dewar (-50°C and -70°C) to which the sample could be exposed for a period of time, either during storage or upon its removal. The mathematical model indicated samples could reach glass transition temperatures and undergo devitrification in 30seconds. Results of the present study indicate storage of vitrified oocytes and embryos in the liquid nitrogen vapor phase (as opposed to completely immersed in liquid nitrogen) poses the potential risk of devitrification. Because of the reduced time-handling period before samples reach critical rubbery and devitrification values, caution should be exercised when handling samples in vapor phase.Fil: Sansinena, Marina Julia. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina. Pontificia Universidad Católica Argentina "Santa María de los Buenos Aires"; ArgentinaFil: Santos, Maria Victoria. Provincia de Buenos Aires. Gobernación. Comisión de Investigaciones Científicas. Centro de Investigación y Desarrollo en Criotecnología de Alimentos. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - La Plata. Centro de Investigación y Desarrollo en Criotecnología de Alimentos. Universidad Nacional de la Plata. Facultad de Ciencias Exactas. Centro de Investigación y Desarrollo en Criotecnología de Alimentos; ArgentinaFil: Taminelli, Guillermo Luis. Pontificia Universidad Católica Argentina "Santa María de los Buenos Aires"; ArgentinaFil: Zaritzky, Noemi Elisabet. Provincia de Buenos Aires. Gobernación. Comisión de Investigaciones Científicas. Centro de Investigación y Desarrollo en Criotecnología de Alimentos. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - La Plata. Centro de Investigación y Desarrollo en Criotecnología de Alimentos. Universidad Nacional de la Plata. Facultad de Ciencias Exactas. Centro de Investigación y Desarrollo en Criotecnología de Alimentos; Argentin

Implications of storage and handling conditions on glass transition and potential devitrification of oocytes and embryos

Devitrification, the process of crystallization of a formerly crystal-free, amorphous glass state, can lead to damage during the warming of cells. The objective of this study was to determine the glass transition temperature of a cryopreservation solution typically used in the vitrification, storage, and warming of mammalian oocytes and embryos using differential scanning calorimetry. A numerical model of the heat transfer process to analyze warming and devitrification thresholds for a common vitrification carrier (open-pulled straw) was conducted. The implications on specimen handling and storage inside the dewar in contact with nitrogen vapor phase at different temperatures were determined. The time required for initiation of devitrification of a vitrified sample was determined by mathematical modeling and compared with measured temperatures in the vapor phase of liquid nitrogen cryogenic dewars. Results indicated the glass transition ranged from -126°C to -121°C, and devitrification was initiated at -109°C. Interestingly, samples entered rubbery state at -121°C and therefore could potentially initiate devitrification above this value, with the consequent damaging effects to cell survival. Devitrification times were calculated considering an initial temperature of material immersed in liquid nitrogen (-196°C), and two temperatures of liquid nitrogen vapors within the dewar (-50°C and -70°C) to which the sample could be exposed for a period of time, either during storage or upon its removal. The mathematical model indicated samples could reach glass transition temperatures and undergo devitrification in 30seconds. Results of the present study indicate storage of vitrified oocytes and embryos in the liquid nitrogen vapor phase (as opposed to completely immersed in liquid nitrogen) poses the potential risk of devitrification. Because of the reduced time-handling period before samples reach critical rubbery and devitrification values, caution should be exercised when handling samples in vapor phase.Fil: Sansinena, Marina Julia. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina. Pontificia Universidad Católica Argentina "Santa María de los Buenos Aires"; ArgentinaFil: Santos, Maria Victoria. Provincia de Buenos Aires. Gobernación. Comisión de Investigaciones Científicas. Centro de Investigación y Desarrollo en Criotecnología de Alimentos. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - La Plata. Centro de Investigación y Desarrollo en Criotecnología de Alimentos. Universidad Nacional de la Plata. Facultad de Ciencias Exactas. Centro de Investigación y Desarrollo en Criotecnología de Alimentos; ArgentinaFil: Taminelli, Guillermo Luis. Pontificia Universidad Católica Argentina "Santa María de los Buenos Aires"; ArgentinaFil: Zaritzky, Noemi Elisabet. Provincia de Buenos Aires. Gobernación. Comisión de Investigaciones Científicas. Centro de Investigación y Desarrollo en Criotecnología de Alimentos. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - La Plata. Centro de Investigación y Desarrollo en Criotecnología de Alimentos. Universidad Nacional de la Plata. Facultad de Ciencias Exactas. Centro de Investigación y Desarrollo en Criotecnología de Alimentos; Argentin

Escola@Online - Diverte-te a aprender : estudo do meio

No âmbito da Pós-Graduação de TIC em Contextos de Aprendizagem,realizada na Escola Superior de Educação de Paula Frassinetti, no ano lectivo de 2008/2009, foi apresentado este projecto sob orientação do Mestre José Luís Gonçalves. De acordo com investigações realizadas sobre a necessidade de uma reforma no ensino, tendo em conta a evolução tecnológica contemporânea, surgiu-nos a ideia de criar novos métodos e estratégias de ensino-aprendizagem baseadas nas TIC em contexto de aprendizagem. Tendo consciência que, cada vez mais, o ser humano utiliza o computador nos diversos domínios da actividade social, nós, enquanto docentes, devemos proporcionar aos nossos alunos uma interacção com o mesmo, despertando-lhe o prazer pela investigação e possibilitar a orientação da sua própria aprendizagem. Neste sentido, e respondendo às necessidades que nos foram expostas, através do inquérito por questionário feito a professores e alunos no Agrupamento Norte, do concelho de Lousada, achamos necessária a personalização de uma plataforma Moodle, designada de “Escola@Online - Diverte-te a Aprender”que tem por objectivo motivar as crianças para a área de Estudo do Meio. Pretendemos que esta plataforma seja um local de partilha, discussão e interacção entre professores e alunos

Genetic susceptibility to thyroid cancer: contributions of RET polymorphisms

Thyroid cancer is the most common malignancy of the endocrine system, represents more than 1% of all malignancies and has an estimated annual incidence of 212,000 cases worldwide. The term differentiated thyroid carcinoma (DTC) comprises the subtypes papillary thyroid carcinoma (PTC) and follicular thyroid carcinomas (FTC), these subtypes represent the two most common subtypes of thyroid cancer (approximately 80% and 10% respectively). Despite its incidence DTCs have a good prognosis with relatively few metastases and deaths associated. The polymorphisms (variants in DNA sequence among individuals that have a frequency of at least 1% in a population) of RET proto-oncogene have been studied in different populations for association with susceptibility to thyroid cancer, but with inconsistent findings mainly in DTC. To clarify the contribution of single locus or haplotypes (polymorphisms that are transmitted through generations as a unit) of RET polymorphisms to genetic susceptibility to DTC among Portuguese patients, we conducted a case–control study by analyzing four well-characterized RET polymorphisms (G691S, L769L, S836S and S904S). To achieve this aim, the RET polymorphisms were genotyped and haplotype frequencies were estimated in a population of 282 individuals with DTC and in a control population of 254 individuals. Allele, genotype and haplotype distributions were compared among cases and controls. Patient population was subdivided according to several clinical parameters and allele, genotype and haplotype distributions were compared among the subgroups. The single locus analysis showed an overrepresentation of the S836S polymorphism in patients when compared to controls. Also the heterozygous genotypes of the G691S/S904S polymorphisms were overrepresented in cases diagnosed after the age of 45 years and the heterozygous genotype of G691S polymorphism revealed an overrepresentation in patients with tumors larger then 10mm of diameter at diagnosis. The haplotype analysis showed an overrepresentation of GGTC haplotype in patients particularly in those diagnosed after the age of 45 years. In conclusion, our data suggest that the S836S polymorphism may be associated with increased risk of DTC. Also the heterozygous genotype of the G691S/S904S polymorphisms seems to be associated with age of onset of DTC and additionally the heterozygous genotype of G691S polymorphism appeared to be in association with tumor size. Finally, one haplotype appears to be associated with increased risk of DTC particularly in those developed in later age (after the age of 45 years). These findings need to be confirmed by larger studies in order re-evaluate the role of these variants in the susceptibility to DTC.Thyroid cancer is the most common malignancy of the endocrine system, represents more than 1% of all malignancies and has an estimated annual incidence of 212,000 cases worldwide. The term differentiated thyroid carcinoma (DTC) comprises the subtypes papillary thyroid carcinoma (PTC) and follicular thyroid carcinomas (FTC), these subtypes represent the two most common subtypes of thyroid cancer (approximately 80% and 10% respectively). Despite its incidence DTCs have a good prognosis with relatively few metastases and deaths associated. The polymorphisms (variants in DNA sequence among individuals that have a frequency of at least 1% in a population) of RET proto-oncogene have been studied in different populations for association with susceptibility to thyroid cancer, but with inconsistent findings mainly in DTC. To clarify the contribution of single locus or haplotypes (polymorphisms that are transmitted through generations as a unit) of RET polymorphisms to genetic susceptibility to DTC among Portuguese patients, we conducted a case–control study by analyzing four well-characterized RET polymorphisms (G691S, L769L, S836S and S904S). To achieve this aim, the RET polymorphisms were genotyped and haplotype frequencies were estimated in a population of 282 individuals with DTC and in a control population of 254 individuals. Allele, genotype and haplotype distributions were compared among cases and controls. Patient population was subdivided according to several clinical parameters and allele, genotype and haplotype distributions were compared among the subgroups. The single locus analysis showed an overrepresentation of the S836S polymorphism in patients when compared to controls. Also the heterozygous genotypes of the G691S/S904S polymorphisms were overrepresented in cases diagnosed after the age of 45 years and the heterozygous genotype of G691S polymorphism revealed an overrepresentation in patients with tumors larger then 10mm of diameter at diagnosis. The haplotype analysis showed an overrepresentation of GGTC haplotype in patients particularly in those diagnosed after the age of 45 years. In conclusion, our data suggest that the S836S polymorphism may be associated with increased risk of DTC. Also the heterozygous genotype of the G691S/S904S polymorphisms seems to be associated with age of onset of DTC and additionally the heterozygous genotype of G691S polymorphism appeared to be in association with tumor size. Finally, one haplotype appears to be associated with increased risk of DTC particularly in those developed in later age (after the age of 45 years). These findings need to be confirmed by larger studies in order re-evaluate the role of these variants in the susceptibility to DTC