Market anticipations of monetary policy actions

Monetary policy ; Federal funds rate

Arms Control and Heavy Missiles

The governing concept infnsing US nuclear strategy over the past two decades has been mutual assnred destruction (MAD). This concept postulates that once the United States and the Soviet Union achieved an invulnerable second-strike capabi Ii ty, stabi Ii ty would result. By definition the doctrine required that each side be able to offer a genuine threat to the other in the form of an invulnerable second-strike capability. Thns, if either side\u27s second-strike capability became vulnerable it would be necessary to reestablish an invulnerable retaliatory force

The Crisis of Asian Globalization : Toward a Senism of the Left

Asian Crisis put globalization on trial, and helped to put politics back into development discourse. Not since the glory days of Third Worldism had politics held the developmental spotlight. This restoration owed much to Amartya Sen, whose work not only re-politicizes development discourse, but does so from within the inner sanctum of the world system. Though Senism is not ordinarily associated with radical critique, its egalitarian focus is loaded with oppositional content. It follows from Sen's axiom of "concurrence," as we term it, that democratization is central at all stages of development. In his view the Asian Crisis confirmed the high cost of undemocratic governance. While Asian exceptionalists hold that liberal democracy is not needed on the Rim, and indeed would be a hindrance, Sen foregrounds the instrumental as well as intrinsic value of the freedom factor in all real development. His outlook, moreover, is deeply rooted in Asian axiology. In lieu of the statist economism that monopolized the term "Asian values" during the "miracle" years, Sen proposes an "Eastern strategy" that draws on the deeper and more humane traditions of Asia. From this vantage it is obvious that development reaches far beyond the GDPism that dominates the standard discourse of growth. What has passed for development in much of Asia is mere profit-taking, and when the social and ecological costs of that taking are weighed in the balance, the result is often a net loss. Sen's focus on human capabilities points toward more sustainable development, but also collides with current power structures in the East and West alike. Senism, in short, is inherently oppositional, and can better serve the Left that the Right

Effect of insulin on glucose metabolism in the dog after portacaval transposition

The effect of insulin on hepatic glucose metabolism was studied by a multiple-catheter technique in unanesthetized dogs with Eck fistula and with portacaval transposition. With the latter preparation, blood entering and leaving the liver was sampled from peripherally inserted catheters. In the unanesthetized Eck-fistula animals, insulin infusion produced a decrease in the hepatic glucose output. In the dogs with portacaval transposition, a constant infusion of insulin was given alternately by systemic and by intraportal routes. There was no significant difference between the effects of insulin administered by the two routes. During insulin infusion, glucose concentration differences across the liver were reduced, hepatic plasma flow was transiently elevated, and hepatic glucose output was decreased. After discontinuance of insulin, there was a transient rise of hepatic glucose output to above control values. </jats:p

A comparison of the hypoglycemic effect of insulin with systemic venous and portal venous administration

The hyperglycemic effect of insulin by prolonged intraportal and systemic infusion was measured in unanesthetized dogs with a modified portacaval transposition. There was no significant difference in response with the two routes of administration. The relation of these results to research directed to surgical therapy of diabetes is discussed. © 1963 W. B. Saunders Company

Heterogeneous N2O5 Uptake During Winter: Aircraft Measurements During the 2015 WINTER Campaign and Critical Evaluation of Current Parameterizations

Nocturnal dinitrogen pentoxide (N2O5) heterogeneous chemistry impacts regional air quality and the distribution and lifetime of tropospheric oxidants. Formed from the oxidation of nitrogen oxides, N2O5 is heterogeneously lost to aerosol with a highly variable reaction probability, γ(N2O5), dependent on aerosol composition and ambient conditions. Reaction products include soluble nitrate (HNO3 or NO3−) and nitryl chloride (ClNO2). We report the first‐ever derivations of γ(N2O5) from ambient wintertime aircraft measurements in the critically important nocturnal residual boundary layer. Box modeling of the 2015 Wintertime INvestigation of Transport, Emissions, and Reactivity (WINTER) campaign over the eastern United States derived 2,876 individual γ(N2O5) values with a median value of 0.0143 and range of 2 × 10−5 to 0.1751. WINTER γ(N2O5) values exhibited the strongest correlation with aerosol water content, but weak correlations with other variables, such as aerosol nitrate and organics, suggesting a complex, nonlinear dependence on multiple factors, or an additional dependence on a nonobserved factor. This factor may be related to aerosol phase, morphology (i.e., core shell), or mixing state, none of which are commonly measured during aircraft field studies. Despite general agreement with previous laboratory observations, comparison of WINTER data with 14 literature parameterizations (used to predict γ(N2O5) in chemical transport models) confirms that none of the current methods reproduce the full range of γ(N2O5) values. Nine reproduce the WINTER median within a factor of 2. Presented here is the first field‐based, empirical parameterization of γ(N2O5), fit to WINTER data, based on the functional form of previous parameterizations

The Allen Telescope Array: The First Widefield, Panchromatic, Snapshot Radio Camera for Radio Astronomy and SETI

The first 42 elements of the Allen Telescope Array (ATA-42) are beginning to deliver data at the Hat Creek Radio Observatory in Northern California. Scientists and engineers are actively exploiting all of the flexibility designed into this innovative instrument for simultaneously conducting surveys of the astrophysical sky and conducting searches for distant technological civilizations. This paper summarizes the design elements of the ATA, the cost savings made possible by the use of COTS components, and the cost/performance trades that eventually enabled this first snapshot radio camera. The fundamental scientific program of this new telescope is varied and exciting; some of the first astronomical results will be discussed.Comment: Special Issue of Proceedings of the IEEE: "Advances in Radio Telescopes", Baars,J. Thompson,R., D'Addario, L., eds, 2009, in pres