The Gold Standard, Monetary Policy, and the Banking School--Currency School Debate

This paper develops a model of the impact of monetary policy on the price level under a gold standard. The model is more consistent with the historical record than are previous models developed by Barro (1979) and McCallum (1989). In particular, it will be demonstrated that under a gold standard, monetary policy can have a permanent effect on the price level. The model is then used to evaluate the nineteenth century debate between proponents of the Banking School and the Currency School.Currency; Gold Standard; Gold; Monetary

Mars Sedimentary Geology: Key Concepts and Outstanding Questions

Processes that operate at planetary surfaces have the potential to record a history of planetary evolution in the form of sedimentary rocks. This is important because our experience on Earth shows that sediments and sedimentary rocks are the dominant archive of high-resolution proxies of present and past tectonic, climatic, and biological processes. Our understanding of the evolution of Earth’s very ancient climate and paleobiological records derives from detailed examination of the mineralogical, textural, and geochemical signatures preserved in the sedimentary rock record. Sedimentary rocks were first recognized on Mars less than a decade ago (Malin and Edgett, 2000). Recent interpretations of data collected by the Mars Express and Mars Reconnaissance Orbiter spacecraft have confirmed the surprising abundance of these sedimentary rocks, the past role of water on the martian surface, and the similarity—in some cases—to sedimentary rocks formed on Earth. Thick sulfaterich deposits invite comparison to terrestrial evaporites (Grotzinger et al., 2005). In other cases, clay-rich strata are interpreted as the terminal deposits of source-to-sink systems with well-developed fluvial networks in the upper reaches of watersheds that date back to a much wetter period in Mars’ earliest history (Ehlmann et al., 2008; Metz et al., 2009). However, these Earth-like depositional systems contrast with other deposits that may be unique in the Solar System: for example, vast terrains as large as Earth’s continents covered by thick veneers of strata that may derive entirely from settling out of wind-transported dust (Bridges et al., 2010). Whatever their origin, it is now clear that the sedimentary rocks of Mars represent a new frontier for research. Mars science is in its golden era of exploration—the past decade of orbiter and landed missions has produced an extraordinary amount of new data relevant to the analysis of sediments and sedimentary rocks, and robust international programs exist for future missions. To help stimulate discussion of these data, the First International Conference on Mars Sedimentology and Stratigraphy was convened in El Paso, Texas, in April 2010. The contents of this white paper represent the most significant findings of the conference, with additional information provided by the coauthors, and focus on seven key questions for future investigation by the sedimentary geology community

Rapid Identification of Hospitalized Patients at High Risk for MRSA Carriage

Patients who are asymptomatic carriers of methicillin-resistant Staphylococcus aureus (MRSA) are major reservoirs for transmission of MRSA to other patients. Medical personnel are usually not aware when these high-risk patients are hospitalized. We developed and tested an enterprise-wide electronic surveillance system to identify patients at high risk for MRSA carriage at hospital admission and during hospitalization. During a two-month study, nasal swabs from 153 high-risk patients were tested for MRSA carriage using polymerase chain reaction (PCR) of which 31 (20.3%) were positive compared to 12 of 293 (4.1%, p < 0.001) low-risk patients. The mean interval from admission to availability of PCR test results was 19.2 hours. Computer alerts for patients at high-risk of MRSA carriage were found to be reliable, timely and offer the potential to replace testing all patients. Previous MRSA colonization was the best predictor but other risk factors were needed to increase the sensitivity of the algorith

Impaired Distal Thermoregulation in Diabetes and Diabetic Polyneuropathy

Objective: To determine how thermoregulation of the feet is affected by diabetes and diabetic polyneuropathy in both wakefulness and sleep. Research Design and Methods: Normal subjects, diabetic subjects without neuropathy, diabetic subjects with small-fiber diabetic polyneuropathy, and those with advanced diabetic polyneuropathy were categorized based on neurological examination, nerve conduction studies, and quantitative sensory testing. Subjects underwent foot temperature monitoring using an iButton device attached to the foot and a second iButton for recording of ambient temperature. Socks and footwear were standardized, and subjects maintained an activity diary. Data were collected over a 32-h period and analyzed. Results: A total of 39 normal subjects, 28 patients with diabetes but without diabetic polyneuropathy, 14 patients with isolated small-fiber diabetic polyneuropathy, and 27 patients with more advanced diabetic polyneuropathy participated. No consistent differences in foot temperature regulation between the four groups were identified during wakefulness. During sleep, however, multiple metrics revealed significant abnormalities in the diabetic patients. These included reduced mean foot temperature (P < 0.001), reduced maximal temperature (P < 0.001), increased rate of cooling (P < 0.001), as well as increased frequency of variation (P = 0.005), supporting that patients with diabetic polyneuropathy and even those with only diabetes but no diabetic polyneuropathy have impaired nocturnal thermoregulation. Conclusions: Nocturnal foot thermoregulation is impaired in patients with diabetes and diabetic polyneuropathy. Because neurons are highly temperature sensitive and because foot warming is part of the normal biology of sleep onset and maintenance, these findings suggest new potentially treatable mechanisms of diabetes-associated nocturnal pain and sleep disturbance

Speciation in the mountains and dispersal by rivers: Molecular phylogeny of Eulamprus water skinks and the biogeography of Eastern Australia

Aim: To develop a robust phylogeny for the iconic Australian water skinks (Eulamprus) and to explore the influence of landscape evolution of eastern Australia on phylogeographic patterns. Location: Eastern and south-eastern Australia. Methods: We used Sanger methods to sequence a mitochondrial DNA (mtDNA) locus for 386 individuals across the five Eulamprus species to elucidate phylogeographic structure. We also sequenced a second mtDNA locus and four nuclear DNA (nDNA) loci for a subset of individuals to help inform our sampling strategy for next-generation sequencing. Finally, we generated an anchored hybrid enrichment (AHE) approach to sequence 378 loci for 25 individuals representing the major lineages identified in our Sanger dataset. These data were used to resolve the phylogenetic relationships among the species using coalescent-based species tree inference in *BEAST and ASTRAL. Results: The relationships between Eulamprus species were resolved with a high level of confidence using our AHE dataset. In addition, our extensive mtDNA sampling revealed substantial phylogeographic structure in all species, with the exception of the geographically highly restricted E. leuraensis. Ratios of patristic distances (mtDNA/nDNA) indicate on average a 30-fold greater distance as estimated using the mtDNA locus ND4. Main conclusions: The major divergences between lineages strongly support previously identified biogeographic barriers in eastern Australia based on studies of other taxa. These breaks appear to correlate with regions where the Great Escarpment is absent or obscure, suggesting topographic lowlands and the accompanying dry woodlands are a major barrier to dispersal for water skinks. While some river corridors, such as the Hunter Valley, were likely historically dry enough to inhibit the movement of Eulamprus populations, our data indicate that others, such as the Murray and Darling Rivers, are able to facilitate extensive gene flow through the vast arid and semi-arid lowlands of New South Wales and South Australia. Comparing the patristic distances between the mitochondrial and AHE datasets highlights the continued value in analysing both types of data.Australian Research Counci

Dimensionless cosmology

Although it is well known that any consideration of the variations of fundamental constants should be restricted to their dimensionless combinations, the literature on variations of the gravitational constant $G$ is entirely dimensionful. To illustrate applications of this to cosmology, we explicitly give a dimensionless version of the parameters of the standard cosmological model, and describe the physics of Big Bang Neucleosynthesis and recombination in a dimensionless manner. The issue that appears to have been missed in many studies is that in cosmology the strength of gravity is bound up in the cosmological equations, and the epoch at which we live is a crucial part of the model. We argue that it is useful to consider the hypothetical situation of communicating with another civilization (with entirely different units), comparing only dimensionless constants, in order to decide if we live in a Universe governed by precisely the same physical laws. In this thought experiment, we would also have to compare epochs, which can be defined by giving the value of any {\it one} of the evolving cosmological parameters. By setting things up carefully in this way one can avoid inconsistent results when considering variable constants, caused by effectively fixing more than one parameter today. We show examples of this effect by considering microwave background anisotropies, being careful to maintain dimensionlessness throughout. We present Fisher matrix calculations to estimate how well the fine structure constants for electromagnetism and gravity can be determined with future microwave background experiments. We highlight how one can be misled by simply adding $G$ to the usual cosmological parameter set

Genetic Connectivity among Populations of an Endangered Snake Species from Southeastern Australia (Hoplocephalus bungaroides, Elapidae)

For endangered species that persist as apparently isolated populations within a previously more extensive range, the degree of genetic exchange between those populations is critical to conservation and management. A lack of gene flow can exacerbate impacts of threatening processes and delay or prevent colonization of sites after local extirpation. The broad-headed snake, Hoplocephalus bungaroides, is a small venomous species restricted to a handful of disjunct reserves near Sydney, Australia. Mark-recapture studies have indicated low vagility for this ambush predator, suggesting that gene flow also may be low. However, our analyses of 11 microsatellite loci from 163 snakes collected in Morton National Park, from six sites within a 10-km diameter, suggest relatively high rates of gene flow among sites. Most populations exchange genes with each other, with one large population serving as a source area and smaller populations apparently acting as sinks. About half of the juvenile snakes, for which we could reliably infer parentage, were collected from populations other than those in which we collected their putative parents. As expected from the snakes’ reliance on rocky outcrops during cooler months of the year, most gene flow appears to be along sandstone plateaux rather than across the densely forested valleys that separate plateaux. The unexpectedly high rates of gene flow on a landscape scale are encouraging for future conservation of this endangered taxon. For example, wildlife managers could conserve broad-headed snakes by restoring habitats near extant source populations in areas predicted to be least affected by future climate change