Rule-of-Thumb Consumers and the Design of Interest Rate Rules

We introduce rule-of-thumb consumers in an otherwise standard dynamic sticky price model, and show how their presence can change dramatically the properties of widely used interest rate rules. In particular, the existence of a unique equilibrium is no longer guaranteed by an interest rate rule that satisfies the so called Taylor principle. Our findings call for caution when using estimates of interest rate rules in order to assess the merits of monetary policy in specific historical periods.

Technology Shocks and Monetary Policy: Assessing the Fed's Performance

The purpose of the present paper is twofold. First, we characterize the Fed's systematic response to technology shocks and its implications for U.S. output, hours and inflation. Second, we evaluate the extent to which those responses can be accounted for by a simple monetary policy rule (including the optimal one) in the context of a standard business cycle model with sticky prices. Our main results can be described as follows: First, we detect significant differences across periods in the response of the economy (as well as the Fed's) to a technology shock. Second, the Fed's response to a technology shock in the Volcker-Greenspan period is consistent with an optimal monetary policy rule. Third, in the pre-Volcker period the Fed's policy tended to over stabilize output at the cost of generating excessive inflation volatility. Our evidence reinforces recent results in the literature suggesting an improvement in the Fed's performance.

Contabilidad I, II y documentación mercantil

A lo largo de la historia, las profesiones han desarrollado y adquirido mayor importancia en todos los aspectos de la sociedad actual, ya que muchos aspectos necesitan un sistema que pueda satisfacer necesidades específicas. La contabilidad en el campo de la compañía se ha convertido en una herramienta indispensable para controlar y administrar los recursos apropiados porque proporciona información razonable, confiable y rápida en cualquier momento. Cuando nos referimos a la contabilidad, ya no hablamos de técnicas para recopilar información o distribución de riqueza o propiedad porque aquí una vez que una serie de procesos organizados le permite respetar las funciones que recopilan, clasifiquen, reconocen, cifre, controlan e informen, use documentos y Libros contables, además de materiales comerciales que apoyan las actividades realizadas, como evidencia de pago y otros documentos, por lo que sus necesidades exactas son básicas. Entidades públicas y privadas. Gracias a esta disciplina, la situación económica y financiera actual de las empresas, variantes estructurales a lo largo del tiempo y logrando los siguientes objetivos, además de contribuir a los beneficios de los usuarios, con ayuda de apoyo a leyes, reglas o principios. Ese profesionales de contabilidad se crean, de esta manera, de esta manera, los procedimientos están estandarizados, siempre buscando información de alta calidad, confiable y adecuada con sus usuarios

Efficiency of a mechanical device in controlling tracheal cuff pressure in intubated critically ill patients : a randomized controlled study

Cuff pressure (P ) control is mandatory to avoid leakage of oral secretions passing the tracheal tube and tracheal ischemia. The aim of the present trial was to determine the efficacy of a mechanical device (PressureEasy®) in the continuous control of P in patients intubated with polyvinyl chloride (PVC)-cuffed tracheal tubes, compared with routine care using a manometer. This is a prospective, randomized, controlled, cross-over study. All patients requiring intubation with a predicted duration of mechanical ventilation ≥48 h were eligible. Eighteen patients randomly received continuous control of P with PressureEasy® device for 24 h, followed by discontinuous control (every 4 h) with a manual manometer for 24 h, or vice versa. P and airway pressure were continuously recorded. P target was 25 cmHO during the two periods. The percentage of time spent with P 20-30 cmHO (median (IQR) 34 % (17-57) versus 50 % (35-64), p = 0.184) and the percentage of time spent with P 30 cmHO was significantly higher during continuous control compared with routine care of tracheal cuff (26 % (14-39) versus 7 % (1-18), p = 0.002). No significant difference was found in P (25 (18-28) versus 21 (18-26), p = 0.17), mean airway pressure (14 (10-17) versus 14 (11-16), p = 0.679), or coefficient of variation of P (19 % (11-26) versus 20 % (11-25), p = 0.679) during continuous control compared with routine care of tracheal cuff, respectively. PressureEasy® did not demonstrate a better control of P between 20 and 30 cmHO, compared with routine care using a manometer. Moreover, the device use resulted in significantly higher time spent with overinflation of tracheal cuff, which might increase the risk for tracheal ischemic lesions

Paper-based chromatic toxicity bioassay by analysis of bacterial ferricyanide reduction

Water quality assessment requires a continuous and strict analysis of samples to guarantee compliance with established standards. Nowadays, the increasing number of pollutants and their synergistic effects lead to the development general toxicity bioassays capable to analyse water pollution as a whole. Current general toxicity methods, e.g. Microtox®, rely on long operation protocols, the use of complex and expensive instrumentation and sample pre-treatment, which should be transported to the laboratory for analysis. These requirements delay sample analysis and hence, the response to avoid an environmental catastrophe. In an attempt to solve it, a fast (15 min) and low-cost toxicity bioassay based on the chromatic changes associated to bacterial ferricyanide reduction is here presented. E. coli cells (used as model bacteria) were stably trapped on low-cost paper matrices (cellulose-based paper discs, PDs) and remained viable for long times (1 month at -20 °C). Apart from bacterial carrier, paper matrices also acted as a fluidic element, allowing fluid management without the need of external pumps. Bioassay evaluation was performed using copper as model toxic agent. Chromatic changes associated to bacterial ferricyanide reduction were determined by three different transduction methods, i.e. (i) optical reflectometry (as reference method), (ii) image analysis and (iii) visual inspection. In all cases, bioassay results (in terms of half maximal effective concentrations, EC50) were in agreement with already reported data, confirming the good performance of the bioassay. The validation of the bioassay was performed by analysis of real samples from natural sources, which were analysed and compared with a reference method (i.e. Microtox). Obtained results showed agreement for about 70% of toxic samples and 80% of non-toxic samples, which may validate the use of this simple and quick protocol in the determination of general toxicity. The minimum instrumentation requirements and the simplicity of the bioassay open the possibility of in-situ water toxicity assessment with a fast and low-cost protocolPostprint (author's final draft

Microbial aetiology of healthcare associated pneumonia in Spain: a prospective, multicentre, case-control study

Introduction: Healthcare-associated pneumonia (HCAP) is actually considered a subgroup of hospital-acquired pneumonia due to the reported high risk of multidrug-resistant pathogens in the USA. Therefore, current American Thoracic Society/Infectious Diseases Society of America guidelines suggest a nosocomial antibiotic treatment for HCAP. Unfortunately, the scientific evidence supporting this is contradictory. Methods: We conducted a prospective multicentre case-control study in Spain, comparing clinical presentation, outcomes and microbial aetiology of HCAP and community-acquired pneumonia (CAP) patients matched by age (±10 years), gender and period of admission (±10 weeks). Results: 476 patients (238 cases, 238 controls) were recruited for 2 years from June 2008. HCAP cases showed significantly more comorbidities (including dysphagia), higher frequency of previous antibiotic use in the preceding month, higher pneumonia severity score and worse clinical status (Charslon and Barthel scores). While microbial aetiology did not differ between the two groups (HCAP and CAP: Streptococcus pneumoniae: 51% vs 55%; viruses: 22% vs 12%; Legionella: 4% vs 9%; Gram-negative bacilli: 5% vs 4%; Pseudomonas aeruginosa: 4% vs 1%), HCAP patients showed worse mortality rates (1-month: HCAP, 12%; CAP 5%; 1-year: HCAP, 24%; CAP, 9%), length of hospital stay (9 vs 7 days), 1-month treatment failure (5.5% vs 1.5%) and readmission rate (18% vs 11%) (p<0.05, each). Conclusions: Despite a similar clinical presentation, HCAP was more severe due to patients' conditions (comorbidities) and showed worse clinical outcomes. Microbial aetiology of HCAP did not differ from CAP indicating that it is not related to increased mortality and in Spain most HCAP patients do not need nosocomial antibiotic coverage

Neuronal glycogen synthesis contributes to physiological aging

Glycogen is a branched polymer of glucose and the carbohydrate energy store for animal cells. In the brain, it is essentially found in glial cells, although it is also present in minute amounts in neurons. In humans, loss-of-function mutations in laforin and malin, proteins involved in suppressing glycogen synthesis, induce the presence of high numbers of insoluble polyglucosan bodies in neuronal cells. Known as Lafora bodies (LBs), these deposits result in the aggressive neurodegeneration seen in Lafora's disease. Polysaccharide-based aggregates, called corpora amylacea (CA), are also present in the neurons of aged human brains. Despite the similarity of CA to LBs, the mechanisms and functional consequences of CA formation are yet unknown. Here, we show that wild-type laboratory mice also accumulate glycogen-based aggregates in the brain as they age. These structures are immunopositive for an array of metabolic and stress-response proteins, some of which were previously shown to aggregate in correlation with age in the human brain and are also present in LBs. Remarkably, these structures and their associated protein aggregates are not present in the aged mouse brain upon genetic ablation of glycogen synthase. Similar genetic intervention in Drosophila prevents the accumulation of glycogen clusters in the neuronal processes of aged flies. Most interestingly, targeted reduction of Drosophila glycogen synthase in neurons improves neurological function with age and extends lifespan. These results demonstrate that neuronal glycogen accumulation contributes to physiological aging and may therefore constitute a key factor regulating age-related neurological decline in humans

High School Research Work and Geology dissemination: FORCES Project (UB)

X Congreso Geológico de España, 5-7 Julio 2021, Vitoria - GasteizEl Trabajo de Investigación de Bachillerato es una de las herramientas de divulgación y enseñanza de las Ciencias de la Tierra para alumnos preuniversitarios interesados en esta ciencia. La potenciación desde la Universidad hacia los centros educativos de Enseñanza Secundaria de la transferencia del conocimiento científico en el ámbito de la Geología, así como de otras ciencias, es el eje principal que se presenta en el Proyecto FORCES (Foment de la Recerca en els Centres de Secundària; http:// www.ub.edu/cere/forces/). Desde el Instituto de Desarrollo Profesional de la Universitat de Barcelona (UB) se han creado puentes entre facultades de la UB y dichos centros educativos, presentándose el caso de la Facultat de Ciències de la Terra. En FORCES se facilitan las herramientas para vincular el Trabajo de Investigación obligatorio de Bachillerato; el estudiante cuenta con el apoyo de su tutor y con el seguimiento de uno o varios profesores-investigadores del ámbito universitario. Ello amplia el marco de trabajo del alumno y le ofrece focos de interés no disponibles en los centros de Educación Secundaria, abriendo la posibilidad de colaboraciones científicas con el grupo investigador y disponer de sus herramientas, conocimientos e instrumental. Unir a la docencia universitaria la experiencia del contacto con futuros estudiantes enriquece la visión del profesorado, al situarlo en el punto de vista del estudiante de bachillerato, facilitando la comunicación de conocimientos e incorporando nuevas metodologías didácticas. Los temas geológicos tratados son amplios, teniendo como eje común la visión geológica de procesos cotidianos o próximos al alumno de Bachillerato.The High School Research Work is one of the tools of dissemination and teaching of Earth Sciences to pre-university students. The strengthening from the University to Secondary School of the transfer of scientific knowledge in the field of Geology, as well as other sciences, is the aim of the FORCES Project (Promotion of Research in High Schools; http://www.ub.edu/cere/ forces/). The Professional Development Institute (IDP-ICE) of the University of Barcelona (UB) has forged close ties between these educational centers and the different faculties of the UB, including the Faculty of Earth Sciences. FORCES provides the necessary tools to link the compulsory Research Work of the Baccalaureate students, so that the student not only has the support of his advisor, but also the follow-up of one or several professors and/or researchers. This broadens the student’s work frame and helps her/him focusing on possible areas not achievable in the context of Secondary School centers, such as establishing scientific collaborations with university research groups and thus using their tools, knowledge and analytical instruments. On the other hand, meeting prospective students enriches the professors’ vision by placing it in the mind of the High School student, improving the communication of knowledge in a more meaningful way and incorporating new teaching methodologies. Geological topics addressed are broad, having as a common thread the geological vision of everyday processes or scientific issues close to the Baccalaureate student’s daily life

FDG-PET-based neural correlates of Addenbrooke’s cognitive examination III scores in Alzheimer’s disease and frontotemporal degeneration

IntroductionThe Addenbrooke’s Cognitive Examination III (ACE-III) is a brief test useful for neuropsychological assessment. Several studies have validated the test for the diagnosis of Alzheimer’s disease (AD) and frontotemporal dementia (FTD). In this study, we aimed to examine the metabolic correlates associated with the performance of ACE-III in AD and behavioral variant FTD.MethodsWe enrolled 300 participants in a cross-sectional study, including 180 patients with AD, 60 with behavioral FTD (bvFTD), and 60 controls. An 18F-Fluorodeoxyglucose positron emission tomography study was performed in all cases. Correlation between the ACE-III and its domains (attention, memory, fluency, language, and visuospatial) with the brain metabolism was estimated.ResultsThe ACE-III showed distinct neural correlates in bvFTD and AD, effectively capturing the most relevant regions involved in these disorders. Neural correlates differed for each domain, especially in the case of bvFTD. Lower ACE-III scores were associated with more advanced stages in both disorders. The ACE-III exhibited high discrimination between bvFTD vs. HC, and between AD vs. HC. Additionally, it was sensitive to detect hypometabolism in brain regions associated with bvFTD and AD.ConclusionOur study contributes to the knowledge of the brain regions associated with ACE-III, thereby facilitating its interpretation, and highlighting its suitability for screening and monitoring. This study provides further validation of ACE-III in the context of AD and FTD

<i>Gaia</i> Data Release 1. Summary of the astrometric, photometric, and survey properties

Context. At about 1000 days after the launch of Gaia we present the first Gaia data release, Gaia DR1, consisting of astrometry and photometry for over 1 billion sources brighter than magnitude 20.7. Aims. A summary of Gaia DR1 is presented along with illustrations of the scientific quality of the data, followed by a discussion of the limitations due to the preliminary nature of this release. Methods. The raw data collected by Gaia during the first 14 months of the mission have been processed by the Gaia Data Processing and Analysis Consortium (DPAC) and turned into an astrometric and photometric catalogue. Results. Gaia DR1 consists of three components: a primary astrometric data set which contains the positions, parallaxes, and mean proper motions for about 2 million of the brightest stars in common with the HIPPARCOS and Tycho-2 catalogues – a realisation of the Tycho-Gaia Astrometric Solution (TGAS) – and a secondary astrometric data set containing the positions for an additional 1.1 billion sources. The second component is the photometric data set, consisting of mean G-band magnitudes for all sources. The G-band light curves and the characteristics of ∼3000 Cepheid and RR-Lyrae stars, observed at high cadence around the south ecliptic pole, form the third component. For the primary astrometric data set the typical uncertainty is about 0.3 mas for the positions and parallaxes, and about 1 mas yr−1 for the proper motions. A systematic component of ∼0.3 mas should be added to the parallax uncertainties. For the subset of ∼94 000 HIPPARCOS stars in the primary data set, the proper motions are much more precise at about 0.06 mas yr−1. For the secondary astrometric data set, the typical uncertainty of the positions is ∼10 mas. The median uncertainties on the mean G-band magnitudes range from the mmag level to ∼0.03 mag over the magnitude range 5 to 20.7. Conclusions. Gaia DR1 is an important milestone ahead of the next Gaia data release, which will feature five-parameter astrometry for all sources. Extensive validation shows that Gaia DR1 represents a major advance in the mapping of the heavens and the availability of basic stellar data that underpin observational astrophysics. Nevertheless, the very preliminary nature of this first Gaia data release does lead to a number of important limitations to the data quality which should be carefully considered before drawing conclusions from the data