Macroeconomic Policy in a Heterogeneous Monetary Union

We use a two-country model with a central bank maximizing union-wide welfare and two fiscal authorities minimizing comparable, but slightly different country-wide losses. We analyze the rivalry between the three authorities in seven static games. Comparing a homogeneous with a heterogeneous monetary union, we find welfare losses to be significantly larger in the heterogeneous union. The best-performing scenarios are cooperation between all authorities and monetary leadership. Cooperation between the fiscal authorities is harmful to both the whole union’s and the country-specific welfare.monetary union, heterogeneities, policy game, simultaneous policy, sequential policy, coordination, discretionary policies.

Macroeconomic Policy in a Heterogeneous Monetary Union

We use a two-country model with a central bank maximizing union-wide welfare and two fiscal authorities minimizing comparable, but slightly different country-wide losses. We analyze the rivalry between the three authorities in seven static games. Comparing a homogeneous with a heterogeneous monetary union, we find welfare losses to be significantly larger in the heterogeneous union. The best-performing scenarios are cooperation between all authorities and monetary leadership. Cooperation between the fiscal authorities is harmful to both the whole union’s and the country-specific welfare.monetary union, heterogeneities, policy game, simultaneous policy, sequential policy, coordination, discretionary policies

Putting Up a Good Fight: The Galí-Monacelli Model versus “The Six Major Puzzles in International Macroeconomics”

In this paper, the following question is posed: Can the New Keynesian Open Economy Model by Galí and Monacelli (2005b) explain “Six Major Puzzles in International Macroeconomics”, as documented in Obstfeld and Rogoff (2000b)? The model features a small open economy with complete markets, Calvo sticky prices and monopolistic competition. As extensions, I explore the effects of an estimated Taylor rule and additional trade costs. After translating the six puzzles into moment conditions for the model, I estimate the five most effective parameters using simulated method of moments (SMM) to fit the moment conditions implied by the data. Given the simplicity of the model, its fit is surprisingly good: among other things, the home bias puzzles can easily be replicated, the exchange rate volatility is formidably increased and the exchange rate correlation pattern is relatively close to realistic values. Trade costs are one important ingredient for this finding.International Macroeconomics, New Keynesian open economy model, trade costs, simulated method of moments (SMM)

Case-based learning in der Thoraxchirurgie

Hintergrund In der modernen medizinischen Lehre wird der klassische Frontalunterricht zunehmend durch innovative Lehrmethoden, wie z. B. „case-based learning“ oder E‑Learning (Electronic-Learning), ergänzt. Ziel der Arbeit Konzipierung und Evaluation eines neuen Kurskonzeptes in der Thoraxchirurgie, um Studierende zu motivieren und zugleich Möglichkeiten zu finden, das ärztliche Personal in seiner Lehrtätigkeit zu entlasten. Material und Methoden Alle Studierenden des jeweils 3. klinischen Semesters der Universität Regensburg absolvierten im Sommersemester 2016 und Wintersemester 2016/17 im Rahmen des Blockpraktikums Chirurgie ein Seminar nach dem Prinzip des fallbasierten Lernens zum Thema „Pulmonaler Rundherd“. Dabei wurde bei einer Gruppe von Studierenden ein moderiertes Präsenzseminar, bei der anderen eine reine Onlineveranstaltung abgehalten. Der Wissensgewinn und die subjektive Bewertung des Kurses durch die Studierenden wurden über Fragebögen ermittelt. Ergebnisse Insgesamt nahmen 190 Studierende an den Seminaren teil, davon 88 am Präsenz- und 102 am Onlinekurs. Obwohl beide Gruppen einen deutlichen Wissenszuwachs durch die Kursintervention verzeichneten, zeigten die Studierenden des Präsenzkurses eine deutlich höhere subjektive Zufriedenheit im Vergleich zu ihren KommilitonInnen im Onlinekurs. Diskussion Das fallbasierte Lernen erwies sich als Erfolg versprechendes Konzept in der thoraxchirurgischen Lehre, wobei sich die Etablierung von Onlinelernverfahren deutlich schwieriger gestaltete als bei präsenzbasiertem Unterricht

METAdata and metaDATA

Metadata are a very broad and extremely differentiated subject and ranges from rudimentary catalog data to deeply indexed scientific catalogs (e.g., catalogs of works). In this paper, the concept of metadata in the context of MEI is first examined, before two examples are used to show that metadata are more than just rudimentary descriptions. These examples are also intended to illustrate the extent to which metadata are encoded in the field of music philology and thus represent an attempt to create a little more awareness for the work of the Metadata and Cataloging Interest Group of MEI. The examples deal on the one hand with the encoding of performance resources and on the other hand with watermarks. In both cases, the possibilities of metadata encoding with MEI version 4 are exhausted and it is discussed which steps are useful and necessary to create an even deeper, machine-readable structure so that these sub-fields of the MEI metadata can also be used for larger scientific purposes such as analyses

Radical surgical resection of advanced thymoma and thymic carcinoma infiltrating the heart or great vessels with cardiopulmonary bypass support

Background Radical surgical resection of advanced thymic tumors invading either the heart or great vessels facing towards the heart is uncommonly performed because of the potential morbidity and mortality. To achieve a complete tumor resection, the use of cardiolpulmonary bypass (CPB) support might be necessary. Methods Retrospective analysis of the results in six patients, who underwent radical tumor resection with CBP support. Results Mean age was 46 years (27 to 66 years) and five patients were male. Tumor infiltration of the heart or the great vessels was evident in all patients. Five patients underwent induction therapy. Two patients were operated in complete cardioplegic arrest (antegrade cerebral perfusion: n = 1). Arterial cannulation of the ascending aorta (n = 5) or the femoral artery (n = 1) and venous cannulation of the right atrium (n = 4) or the femoral vein (n = 2) were performed. Resection of the left brachiocephalic vein (n = 6), resection of the superior caval vein (n = 2), the ascending aorta (n = 1) and the complete aortic arch with outgoing branches (n = 1) were performed. A macroscopic complete resection (R0/R1) was achieved in five patients, whereas one patient was resected incompletely (R2). In-hospital mortality was 0 %. Three (50 %) patients needed operative revision (hematothorax: n = 2, chylothorax: n = 1). All patients had a complicated postoperative course and developed respiratory insufficiency. Conclusions Locally advanced thymoma/thymic carcinoma invading the heart or great vessels can be treated with radical surgical resection alongside with increased perioperative morbidity. The usage of CBP improves the chance of complete tumor resection in selected patients and might lead to a prolonged survival

Video-assisted pulmonary metastectomy is equivalent to thoracotomy regarding resection status and survival

Background Surgical resection of pulmonary metastases leads to prolonged survival if strictly indicated. Usually, thoracotomy with manual palpation of the entire lung with lymph node dissection or sampling is performed. The aim of this study was to evaluate the role of video-assisted thoracoscopic surgery (VATS) in pulmonary metastectomy with curative intent. Methods In this study, all patients with suspected pulmonary metastasis (n = 483) who visited the Center for Thoracic Surgery in Regensburg, between January 2009 and December 2017 were analysed retrospectively. Results A total of 251 patients underwent metastectomy with curative intent. VATS was performed in 63 (25.1%) patients, 54 (85.7%) of whom had a solitary metastasis. Wedge resection was the most performed procedure in patients treated with VATS (82.5%, n = 52) and thoracotomy (72.3%, n = 136). Postoperative revisions were necessary in nine patients (4.8%), and one patient died of pulmonary embolism after thoracotomy (0.5%). Patients were discharged significantly faster after VATS than after thoracotomy (p < 0.001). Complete (R0) resection was achieved in 89% of patients. The median recurrence-free survival was 11 months (95% confidence interval 7.9–14.1). During follow-up, eight (12.7%) patients in the VATS group and 42 (22.3%) patients in the thoracotomy group experienced recurrence (p = 0.98). The median overall survival was 61 months (95% confidence interval 46.1–75.9), and there was no significant difference with regard to the surgical method used (p = 0.34). Conclusions VATS metastasectomy can be considered in patients with a solitary lung metastasis. An open surgical approach with palpation of the lung showed no advantage in terms of surgical outcome or survival

Evaluation of Surgical Therapy in Advanced Thymic Tumors

A complete resection of thymic tumors is known to be the most important prognostic factor, but it is often difficult to perform, especially in advanced stages. In this study, 73 patients with advanced thymic tumors of UICC stages III and IV who underwent radical resection were examined retrospectively. The primary endpoint was defined as the postoperative resection status. Secondary endpoints included postoperative morbidity, mortality, recurrence/progression-free, and overall survival. In total, 31.5% of patients were assigned to stage IIIa, 9.6% to stage IIIb, 47.9% to stage IVa, and 11% to stage IVb. In stages III a R0 resection was achieved in 53.3% of patients. In stages IV a R0/R1 resection was documented in 76.7% of patients. Surgical revision was necessary in 17.8% of patients. In-hospital mortality was 2.7%. Median recurrence/progression-free interval was 43 months (p = 0.19) with an overall survival of 79 months. The 5-year survival rate was 61.3%, respectively. Median survival after R2 resection was 25 months, significantly shorter than after R0 or R1 resection (115 months; p = 0.004). Advanced thymic tumors can be resected with an acceptable risk of complications and low mortality. In stage III as well as in stage IV the promising survival rates are dependent on the resection-status