Will digital financial development affect the effectiveness of monetary policy in emerging market countries?

Whether digital finance should be included in the quantitative framework of monetary policy in emerging market countries has been widely discussed by scholars. However, the current research just focused on a single format of digital finance, lacking comprehensive analysis at the overall level and the refinement of general rules. Therefore, this paper constructed a spatial econometric model to empirically analyze the impact of digital finance on the effectiveness of monetary policy and its heterogeneity, taking China as the representative of emerging market countries. The empirical test showed that (1) Although the total index of digital finance had a negative impact on economic growth, the interaction between digital finance and monetary policy was significantly positive. This indicated that the “moderating effect” of monetary policy was beneficial to digital finance in promoting economic growth, which was confirmed from the subindexes level as well. (2) The development of digital finance had obvious characteristics of the “polarization effect” and the “spatial spillover effect”. Meanwhile, there was a significant regional difference in the “moderating effect” of monetary policy. (3) In terms of control variables, consumption level, fixed capital formation level, and fiscal policy all had a significant positive impact on economic growth, with a positive “spatial spillover effect”. Whereas, the impacts of COVID-19 and export level on economic growth were both negative. Hence, coping with the challenges of COVID-19 and revitalizing exports were important breakthroughs for emerging market countries to recover the domestic economy. Finally, based on the empirical conclusions, this paper proposed three suggestions. First, monetary policy should be strengthened to intervene in the development of digital finance. Second, digital financial development should be integrated into the quantitative framework of monetary policy. Third, it is essential to build a “double pillar” policy framework to compensate for the shortage of monetary polic

Methyl (1H-pyrrol-2-ylcarbonyl­amino)acetate

In the crystal structure of the title compound, C8H10N2O3, mol­ecules are linked by N—H⋯O hydrogen bonds, forming ribbons of centrosymmetric dimers extending along the c axis

Tracing children's vocabulary development from preschool through the school‐age years: an 8‐year longitudinal study

In this 8‐year longitudinal study, we traced the vocabulary growth of Chinese children, explored potential precursors of vocabulary knowledge, and investigated how vocabulary growth predicted future reading skills. Two hundred and sixty‐four (264) native Chinese children from Beijing were measured on a variety of reading and language tasks over 8 years. Between the ages of 4 to 10 years, they were administered tasks of vocabulary and related cognitive skills. At age 11, comprehensive reading skills, including character recognition, reading fluency, and reading comprehension were examined. Individual differences in vocabulary developmental profiles were estimated using the intercept‐slope cluster method. Vocabulary development was then examined in relation to later reading outcomes. Three subgroups of lexical growth were classified, namely high‐high (with a large initial vocabulary size and a fast growth rate), low‐high (with a small initial vocabulary size and a fast growth rate) and low‐low (with a small initial vocabulary size and a slow growth rate) groups. Low‐high and low‐low groups were distinguishable mostly through phonological skills, morphological skills and other reading‐related cognitive skills. Childhood vocabulary development (using intercept and slope) explained subsequent reading skills. Findings suggest that language‐related and reading‐related cognitive skills differ among groups with different developmental trajectories of vocabulary, and the initial size and growth rate of vocabulary may be two predictors for later reading development. “In this 8‐year longitudinal study, we traced the vocabulary growth of Chinese children, explored potential precursors of vocabulary knowledge, and investigated how vocabulary growth predicted future reading skills. Three subgroups of lexical growth were classified, namely high‐high (with a large initial vocabulary size and a fast growth rate), low‐high (with a small initial vocabulary size and a fast growth rate) and low‐low (with a small initial vocabulary size and a slow growth rate) groups. Low‐high and low‐low groups were distinguishable mostly through phonological skills, morphological skills and other reading‐related cognitive skills. Childhood vocabulary development (using intercept and slope) explained subsequent reading skills. Findings suggest that language‐related and reading‐related cognitive skills differ among groups with different developmental trajectories of vocabulary, and the initial size and growth rate of vocabulary may be two predictors for later reading development.”Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/109871/1/desc12190.pd

Atomic-scale visualization of quasiparticle interference on a type-II Weyl semimetal surface

We combine quasiparticle interference simulation (theory) and atomic resolution scanning tunneling spectro-microscopy (experiment) to visualize the interference patterns on a type-II Weyl semimetal Mo$_{x}$W$_{1-x}$Te$_2$ for the first time. Our simulation based on first-principles band topology theoretically reveals the surface electron scattering behavior. We identify the topological Fermi arc states and reveal the scattering properties of the surface states in Mo$_{0.66}$W$_{0.34}$Te$_2$. In addition, our result reveals an experimental signature of the topology via the interconnectivity of bulk and surface states, which is essential for understanding the unusual nature of this material.Comment: To appear in Phys. Rev. Let

Effects of total flavonoids from Drynariae Rhizoma prevent bone loss in vivo and in vitro

AbstractEstrogen deficiency is one of the major causes of osteoporosis in postmenopausal women. Drynariae Rhizoma is a widely used traditional Chinese medicine for the treatment of bone diseases. In this study, we investigated the therapeutic effects of the total Drynariae Rhizoma flavonoids (DRTF) on estrogen deficiency-induced bone loss using an ovariectomized rat model and osteoblast-like MC3T3-E1 cells. Our results indicated that DRTF produced osteo-protective effects on the ovariectomized rats in terms of bone loss reduction, including decreased levels of bone turnover markers, enhanced biomechanical femur strength and trabecular bone microarchitecture deterioration prevention. In vitro experiments revealed that the actions of DRTF on regulating osteoblastic activities were mediated by the estrogen receptor (ER) dependent pathway. Our data also demonstrated that DRTF inhibited osteoclastogenesis via up-regulating osteoprotegrin (OPG), as well as down-regulating receptor activator of NF–κB ligand (RANKL) expression. In conclusion, this study indicated that DRTF treatment effectively suppressed bone mass loss in an ovariectomized rat model, and in vitro evidence suggested that the effects were exerted through actions on both osteoblasts and osteoclasts

Sesamin Protects the Femoral Head From Osteonecrosis by Inhibiting ROS-Induced Osteoblast Apoptosis in Rat Model

Glucocorticoids intake has become the most common pathogenic factor for osteonecrosis of the femoral head (ONFH). Annually, tens of millions of patients suffer from pain related to ONFH. Researchers have proposed several underlying mechanisms of ONFH, including osteocyte apoptosis, cell differentiation disorder, and angiogenesis hindrance. Sesamin, isolated from Sesamum indicum seeds, was reported could affect osteocyte inflammation and differentiation in osteoarthritis and osteoporosis. We investigated the underlying influence of sesamin on ONFH rat model. Fifteen male Sprague-Dawley rats were randomly divided into three groups. The ONFH model group only received the methylprednisolone (MPS) and lipopolysaccharide (LPS) injection to promote the development of ONFH. The sesamin treatment group was injected with sesamin, MPS, and LPS. The control group was untreated. Rats from above groups were sacrificed 4 weeks later. The effect of sesamin on ONFH rats was validated by H&E staining. TUNEL staining showed that femoral head necrosis was attenuated by sesamin. Furthermore, the phosphorylation of Akt was increased and the downstream cellular apoptosis signal pathway was inhibited. Intracellular ROS level was decreased after sesamin treatment. In conclusion, our findings suggest that sesamin protects the femoral head from osteonecrosis by inhibiting ROS-induced osteoblast apoptosis

Pengamanan Data Menggunakan Metoda Enkripsi Einstein

Dalam proses demokrasi maka semua orang bebas untuk berbicara mengutarakan pendapat dan pandangannya berdasarkan pribadi dan perasaannya, tentu saja dengan melihat bahwa hak demokrasinya tersebut tidak melanggar hak demokrasi orang lain. Kebebasan berkomunikasi ini juga termasuk kebebasan untuk berbicara dengan orang yang diinginkan. Untuk itu akan sangat mengganggu bila isi pembicaraan terutama yang menggunakan teknologi informasi ternyata bocor kepada orang yang tidak berhak dan secara demokrasi ini melanggar haknya, padahal dalam teknologi informasi yang berkembang secara sangat pesat ini ternyata tidak dibarengi dengan penggunaan alat untuk pengamanan data yang tepat dalam sistem informasi. Salah satu teknik pengamanan data informasi di dunia internet adalah penggunaan teknik algoritma kriptografi. Suatu algoritma kriptografi berisi fungsi-fungsi matematika yang digunakan untuk melakukan proses enkripsi dan dekripsi. Algoritma kriptografi yang digunakan merupakan jenis algoritma kriptografi simetrik yang menggunakan kunci rahasia yang sama untuk proses enkripsi dan dekripsinya. Pada makalah ini dipaparkan penggunaan algoritma kriptografi Einstein sebagai salah satu cara untuk mengamankan data. Pada algoritma Einstein, terdapat proses acak (random) yang menggunakan metoda kongruensial linear. Algoritma Einstein mempunyai kelebihan dalam melakukan proses enkripsi dan dekripsi pada hampir semua jenis file yang umum digunakan. Algoritma Einstein bisa diimplementasikan untuk semua ukuran file