Real and nominal stochastic convergence: Are the new EU members ready to join the Euro zone?

Cataloged from PDF version of article.A key requirement for the new members to join the European Economic and Monetary Union (EMU) is real and financial convergence to European Union (EU) levels. This paper expands the analysis in [Kocenda, E., Macroeconomic convergence in transition economies, Journal of Comparative Economics 29 (2001) 1-23] and [Kutan, A., Yigit, T., Nominal and real stochastic convergence of transition economies, Journal of Comparative Economics 32 (2004) 23-36] by investigating the convergence of the new EU members to these standards. Using panel unit root techniques, we find strong evidence of real stochastic convergence for all new members, which indicates that they adjust to Euro-area output shocks. However, the degree of nominal convergence is idiosyncratic. The Baltic states exhibit the strongest monetary policy and price-level convergence, suggesting that they are ready to adopt the Euro. However, Central and East European countries should address the reasons for their lack of convergence before adopting the Euro. (c) 2005 Association for Comparative Economic Studies. Published by Elsevier Inc. All rights reserved

Nominal and real stochastic convergence of transition economies

Cataloged from PDF version of article.To investigate the sensitivity of real and nominal economic convergence of transition economies to model specification and restrictions, we extend the work of Kocenda [J. Compar. Econ. 29 (2001) 1] by considering a more stable, post-1993 period and by adopting a more recent panel estimation approach. This new technique involves less restrictive assumptions than previous panel unit root techniques by allowing heterogeneity in convergence rates. Our results show less nominal and real economic convergence than those of Kocenda

European Integration, Productivity Growth and Real Convergence

Cataloged from PDF version of article.This paper derives a stochastic endogenous growth model to investigate the impact of European Union (EU) integration on convergence and productivity growth. The theoretical model implies both temporary and permanent positive effects of the integration process. The empirical part of the analysis uses structural break tests and data envelopment analysis to examine the accession process of five recent members to the EU15. The results show (i) endogenously identified accession dates as structural breaks, (ii) improved rates of productivity growth after accession over and above the Union benchmark level, and (iii) increased pace of overall growth due to capital accumulation as a result of institutional features of the Union such as Structural and Cohesion Funds. These findings support the theoretical model, implying that economic integration is beneficial for member countries, especially from a long-run perspective, and Cohesion and Structural funds help the new members catch up with the core-EU members' standard of living. (c) 2006 Elsevier B.V. All rights reserved

Parameterizing Gravity Waves and Understanding Their Impacts on Venus' Upper Atmosphere

The complexity of Venus upper atmospheric circulation is still being investigated. Simulations of Venus upper atmosphere largely depend on the utility of Rayleigh Friction (RF) as a driver and necessary process to reproduce observations (i.e. temperature, density, nightglow emission). Currently, there are additional observations which provide more constraints to help characterize the driver(s) of the circulation. This work will largely focus on the impact parameterized gravity waves have on Venus upper atmosphere circulation within a three dimensional hydrodynamic model (Venus Thermospheric General Circulation Model)

Pilgrims to the Eurozone: How far, how fast?

Cataloged from PDF version of article.In our analysis, we re-examine the nominal and real convergence of all recent 10 European Union (EU) members to EU standards. Testing for monetary convergence has significant implications for interim optimal exchange rate and monetary policies before a formal and permanent link to the euro, while real convergence is the ultimate objective of economic integration. Novel features of the paper include broader measures of real convergence in both euro as well as local currencies, an examination of inflation and interest rate convergence with respect to the Maastricht benchmarks, and employment of more appropriate tests of convergence allowing for structural breaks. The results indicate slow but steady per-capita real income convergence towards EU standards. On the other hand, evidence indicates significant strong inflation and interest rate convergence. Policy implications of the paper are also discussed. © 2006 Elsevier B.V. All rights reserved

Future perspectives on automotive CAE

Computer Aided Engineering (CAE) is an integral part of today’s automotive design process. Very often OEM’s rely solely on software vendors to provide appropriate solutions. On the other hand, some companies still use in-house developed software for specific applications. It is, however, a combination of these two approaches that provides OEM’s with optimal leading edge software technology. This paper will present an overview of several relevant automotive CAE-methods that will illustrate this approach. Four important automotive software areas will be considered: vehicle CFD applications, aeroacoustics, vehicle crash analysis and occupant / pedestrian safety. The first two topics, CFD and aeroacoustics, are extensive subject areas in themselves, but will be dealt with by considering two specific topics, namely, numerical aerodynamic / flow optimization and aeroacoustic sound propagation into vehicle cabins, respectively. A more detailed focus will be placed on the two safety application areas: vehicle crash analysis and occupant safety using Human Body Models

Systematic interaction network filtering identifies CRMP1 as a novel suppressor of huntingtin misfolding and neurotoxicity

Assemblies of huntingtin (HTT) fragments with expanded polyglutamine (polyQ) tracts are a pathological hallmark of Huntington's disease (HD). The molecular mechanisms by which these structures are formed and cause neuronal dysfunction and toxicity are poorly understood. Here, we utilized available gene expression data sets of selected brain regions of HD patients and controls for systematic interaction network filtering in order to predict disease-relevant, brain region-specific HTT interaction partners. Starting from a large protein-protein interaction (PPI) data set, a step-by-step computational filtering strategy facilitated the generation of a focused PPI network that directly or indirectly connects 13 proteins potentially dysregulated in HD with the disease protein HTT. This network enabled the discovery of the neuron-specific protein CRMP1 that targets aggregation-prone, N-terminal HTT fragments and suppresses their spontaneous self-assembly into proteotoxic structures in various models of HD. Experimental validation indicates that our network filtering procedure provides a simple but powerful strategy to identify disease-relevant proteins that influence misfolding and aggregation of polyQ disease proteins.DFG [SFB740, 740/2-11, SFB618, 618/3-09, SFB/TRR43 A7]; BMBF(NGFN-Plus) [01GS08169-73, 01GS08150, 01GS08108]; HDSA Coalition for the Cure; EU (EuroSpin) [Health-F2-2009-241498, HEALTH-F2-2009-242167]; Helmholtz Association (MSBN, HelMA) [HA-215]; FCT [IF/00881/2013]info:eu-repo/semantics/publishedVersio

Dual targeting of MDM2 and BCL2 as a therapeutic strategy in neuroblastoma

Wild-type p53 tumor suppressor activity in neuroblastoma tumors is hampered by increased MDM2 activity, making selective MDM2 antagonists an attractive therapeutic strategy for this childhood malignancy. Since monotherapy in cancer is generally not providing long-lasting clinical responses, we here aimed to identify small molecule drugs that synergize with idasanutlin (RG7388). To this purpose we evaluated 15 targeted drugs in combination with idasanutlin in three p53 wild type neuroblastoma cell lines and identified the BCL2 inhibitor venetoclax (ABT-199) as a promising interaction partner. The venetoclax/idasanutlin combination was consistently found to be highly synergistic in a diverse panel of neuroblastoma cell lines, including cells with high MCL1 expression levels. A more pronounced induction of apoptosis was found to underlie the synergistic interaction, as evidenced by caspase-3/7 and cleaved PARP measurements. Mice carrying orthotopic xenografts of neuroblastoma cells treated with both idasanutlin and venetoclax had drastically lower tumor weights than mice treated with either treatment alone. In conclusion, these data strongly support the further evaluation of dual BCL2/MDM2 targeting as a therapeutic strategy in neuroblastoma

De novo mutations in SMCHD1 cause Bosma arhinia microphthalmia syndrome and abrogate nasal development

Bosma arhinia microphthalmia syndrome (BAMS) is an extremely rare and striking condition characterized by complete absence of the nose with or without ocular defects. We report here that missense mutations in the epigenetic regulator SMCHD1 mapping to the extended ATPase domain of the encoded protein cause BAMS in all 14 cases studied. All mutations were de novo where parental DNA was available. Biochemical tests and in vivo assays in Xenopus laevis embryos suggest that these mutations may behave as gain-of-function alleles. This finding is in contrast to the loss-of-function mutations in SMCHD1 that have been associated with facioscapulohumeral muscular dystrophy (FSHD) type 2. Our results establish SMCHD1 as a key player in nasal development and provide biochemical insight into its enzymatic function that may be exploited for development of therapeutics for FSHD