Do Prices in the EMU Converge (Non-linearly)?

This paper examines the current state of price convergence amongst the eleven initial EMU member states. Special attention is given to possible changes in the convergence process during the euro cash changeover. We apply the sigma-convergence approach using both panel estimates of changes in the deterministic time trend of a coefficient of variation and stochastic kernel-density estimates. We find that convergence took place before 2000, slowed down substantially between 2000 and 2003, and resurfaced after 2003. This points to a non-linear convergence path. We show that stronger convergence is associated with periods of positive and less-dispersed output gaps across member states. There are no big differences between the results for tradables and non-tradables, indicating that Balassa-Samuelson effects are relatively weak.Prices, European Monetary Union, Sigma-convergence, Kernel-density Estimation, Balassa-Samuelson Effect

Roles of Capabilities and Leader Characteristics in SME Digital Innovation

Digital technology (viewed as the combination of information, computing, communication, and connectivity technology) is impacting on the marketplaces that SMEs operate in. Yet, little is understood about how these businesses are adapting to, and adopting, digital technologies and creating digital innovation. Technology can be viewed as an opportunity for SMEs through which to engage in competitive behaviour, cost reduction, audience extension and intelligence gathering. European Commission recognises the SMEs form the backbone of the European economy Qualitative data were gathered from 45 interviews with SME leaders across four European countries and 5 industry sectors. This paper reports on the findings from a research project investigating digital preparedness of European SMEs and specifically the characteristics and capabilities of SME leaders in adopting digital innovation. Insight is outlined through the scope of the research which integrates different countries, sizes of SMEs and industry sectors to provide an holistic view of European SME leader perceptions. General consensus was evident as to the characteristics and capabilities required to create digital innovation in a competitive environment and a tentative framework has been created. This paper contributes to scholarship by providing a more comprehensive view of current European perceptions by SME practitioners concerning the profile of an SME leader undertaking digital innovation. Management implications include that any evaluation of SME digital innovation preparedness should look beyond capabilities and skills sets and include intangible aspects of character such as leaders’ attitudes towards technologies.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

The retroviral restriction factor TRIM5α

Retroviruses are obligate intracellular parasites that have coevolved with their hosts for millions of years. It is therefore not surprising that retroviruses take advantage of numerous host factors during their life cycle. In addition to positive cellular factors that are of use to the virus, host cells have also evolved intracellular proteins to antagonize the retroviral replication cycle. Such inhibitory cellular factors have been called retroviral restriction factors. Recently, several such restriction factors have been cloned, including Friend virus susceptibility factor 1, apolipoprotein B mRNA-editing enzyme catalytic proteins 3F and 3G, and ZAP. Here, we review the explosion of publications from the past 2 years concerning TRIM5, a host factor that potently inhibits HIV-1 and other retroviruse

“Sometimes it goes wrong!” – Teachers’ beliefs concerning experiments in mathematics

International audienceIn didactic literature there are many practical materials to use experiments in mathematics classroom. Even though, experiments seem to be beneficial in mathematics education, little is known about what teachers think concerning this method. In this explorative study we want to examine the teachers’ beliefs about experiments and which relations they see between experiments and mathematics. We asked teachers from various school types in Germany, with an open-ended questionnaire. Our results indicate that most teachers see experiments either as controlled and planful procedure or as “trial and error”. Furthermore, teachers state mainly two relations between experiments and mathematics

Networks for all

A report on the Cold Spring Harbor Laboratory/Wellcome Trust conference on Network Biology, Hinxton, UK, 27-31 August 2008

Fingernail Cortisol: A Biological Signal of Lifetime Major Depressive Disorder

Introduction: Elevated levels of the hypothalamic-pituitary-adrenal axis hormone cortisol are a frequently replicated finding in major depressive disorder (MDD). However, the current state of research is inconclusive as to whether hypercortisolism represents a trait- or state-like biological signal of MDD. The aim of the present study was to investigate, for the first time, whether cortisol in fingernails, a highly accessible tissue, could distinguish currently remitted individuals with MDD from healthy controls. A further aim was to identify potential confounders of nail cortisol. Methods: A total of N = 100 individuals from the general population were recruited. A structured clinical interview was administered, which resulted in two groups: n = 48 with lifetime MDD and n = 52 healthy controls. All participants answered questions on sociodemographic, lifestyle, and psychosocial characteristics. They also grew their nails for 14 days and cut them for the subsequent determination of cortisol. Results: The groups differed in their nail cortisol concentrations, such that the individuals with lifetime MDD had significantly higher concentrations than the healthy controls (p = 0.041). Within the group of individuals with lifetime MDD, the number of experienced episodes was significantly correlated with cortisol (p = 0.011). Income emerged as the only significant confounder of cortisol (p = 0.008). Conclusion: Elevated fingernail cortisol appears to be a biological signal of MDD, even in the absence of a current major depressive episode. Its high accessibility and robustness render it a promising methodology for remote research as well as for the integration of biomarkers into clinical research and practice