Currency Unions

A currency union is when several independent sovereign nations share a common currency. This has been a recurring phenomenon in monetary history. In this article I study the theoretical foundations of such unions, and discuss some important currency unions in history, most notably the case of the US. Finally I contrast the design of the EMU with economic theories and historical experiences of currency unions

Endogenous Testosterone and Exogenous Oxytocin Modulate Attentional Processing of Infant Faces

<div><p>Evidence indicates that hormones modulate the intensity of maternal care. Oxytocin is known for its positive influence on maternal behavior and its important role for childbirth. In contrast, testosterone promotes egocentric choices and reduces empathy. Further, testosterone decreases during parenthood which could be an adaptation to increased parental investment. The present study investigated the interaction between testosterone and oxytocin in attentional control and their influence on attention to baby schema in women. Higher endogenous testosterone was expected to decrease selective attention to child portraits in a face-in-the-crowd-paradigm, while oxytocin was expected to counteract this effect. As predicted, women with higher salivary testosterone were slower in orienting attention to infant targets in the context of adult distractors. Interestingly, reaction times to infant and adult stimuli decreased after oxytocin administration, but only in women with high endogenous testosterone. These results suggest that oxytocin may counteract the adverse effects of testosterone on a central aspect of social behavior and maternal caretaking.</p></div

Example for a parametrically manipulated baby.

<p>From left to right: low BS condition, unmanipulated baby picture and high BS condition.</p

In both figures, the mean reaction times to select an adult or an infant target are shown for both administration conditions (oxytocin or placebo) (± SEM).

<p>The reaction times to select an infant target are shown for the three baby schema conditions: minus = low BS, neutral = unmanipulated BS, plus = high BS. On the left side you can see the results for women with low T concentrations (n_lowT = 19) and on the right side you can see the results for women with high T concentrations (n_highT = 19). Not significant = n.s., * = <i>p</i> < 0.05, t-test, one-tailed.</p

Negative correlation between salivary testosterone concentration and selective attention to human infant portraits (<i>r</i> = -0.402, <i>p</i> = 0.04, one-tailed).

<p>Negative correlation between salivary testosterone concentration and selective attention to human infant portraits (<i>r</i> = -0.402, <i>p</i> = 0.04, one-tailed).</p

Negative correlation between salivary testosterone concentration and selective attention to human infant portraits (<i>r</i> = -0.394, <i>p</i> = 0.007; one-tailed).

<p>Negative correlation between salivary testosterone concentration and selective attention to human infant portraits (<i>r</i> = -0.394, <i>p</i> = 0.007; one-tailed).</p

Illustration of two trials out of the <i>target detection paradigm</i>.

<p>Illustration of two trials out of the <i>target detection paradigm</i>.</p