234 research outputs found

    Memory of recessions.

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    This paper reviews the evidence on the effects of recessions on potential output. In contrast to the assumption in mainstream macroeconomic models that economic fluctuations do not change potential output paths, the evidence is that they do in the case of recessions. A model is proposed to explain this phenomenon, based on an analogy with water flows inporous media. Because of the discrete adjustments made by heterogeneous economic agents in such a world, potential output displays hysteresis with regard to aggregate demand shocks, and thus retains a memory of the shocks associated with recessions.Recessions, Permanent Effects, Hydraulic Keynesianism, Porous Media, Hysteresis.

    Hysteresis in the fundamentals of macroeconomics.

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    Two fundamental problems in economic analysis concern the determination of aggregate output, and the determination of market prices and quantities. The way economic adjustments are made at the micro level suggests that the history of shocks to the economic environment matters. This paper presents tractable approach for introducing hysteresis into models of how aggregate output and market prices and quantities are determined.Hysteresis, Aggregate Output, Market Supply and Demand

    Electrical and magnetic characterisation of a series of TCNQ salts.

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    The electrical and magnetic properties of a series of 12 isostructural TCNQ salts of bis-pyridinium cations are reported and these properties are related to the structural characteristics. The role of the cation lattice in stabilising a regular TCNQ stack in these salts is discussed. For comparison with this series, the electrical and magnetic properties of two TCNQ salts of bis-pyridinium cations with ordered structures and two salts of dialkyldiphenylphosphonium cations are reported.Within the isostructural series of salts, the stoichiometry takes values of between 1:3 and 1:5, and the cation length determines the stoichiometry. In all these salts, the hydrated cation lattice is disordered and the TCNQs stack in regular columns. The room temperature conductivities, measured along the stacking axis, are in the range 0.05 to 500 S/cm with the highest conductivities observed in dehydrated salts having the approximate stoichiometry, 1:4.5. The 1:5 salts possess the lowest conductivity of the series and in these salts the cation lattice is partially ordered. The 1:3 and 1:4 salts are small band gap semi-conductors whereas the conductivity of the 1:5 salts is not simply activated within the experimental range of temperatures. In these salts the conductivity obeys the empirical power law: [mathematical equation]. The temperature dependence of the magnetic susceptibility of all but the 1:3 salts of the isostructural series is characteristic of a system of partially localised triplet excitons. The magnitude of the singlet-triplet exchange energy exhibits a stoichiometric dependence and is lower in the 1:5 salts where the spin concentration is lower. The magnetic susceptibility of the 1:3 salts varies with temperature according to the Curie-Weiss law. The apparent low spin concentration supports the evidence found for alloy formation in these salts where the cation lattice is partially occupied by neutral or monoquaternised base

    Memory of Recessions

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    This paper reviews the evidence on the effects of recessions on potential output. In contrast to the assumption in mainstream macroeconomic models that economic fluctuations do not change potential output paths, the evidence is that they do in the case of recessions. A model is proposed to explain this phenomenon, based on an analogy with water flows in porous media. Because of the discrete adjustments made by heterogeneous economic agents in such a world, potential output displays hysteresis with regard to aggregate demand shocks, and thus retains a memory of the shocks associated with recessions

    Epitype-inducing temperatures drive DNA methylation changes during somatic embryogenesis in the long-lived gymnosperm Norway spruce

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    An epigenetic memory of the temperature sum experienced during embryogenesis is part of the climatic adaptation strategy of the long-lived gymnosperm Norway spruce. This memory has a lasting effect on the timing of bud phenology and frost tolerance in the resulting epitype trees. The epigenetic memory is well characterized phenotypically and at the transcriptome level, but to what extent DNA methylation changes are involved have not previously been determined. To address this, we analyzed somatic epitype embryos of Norway spruce clones produced at contrasting epitype-inducing conditions (18 and 28°C). We screened for differential DNA methylation in 2744 genes related mainly to the epigenetic machinery, circadian clock, and phenology. Of these genes, 68% displayed differential DNA methylation patterns between contrasting epitype embryos in at least one methylation context (CpG, CHG, CHH). Several genes related to the epigenetic machinery (e.g., DNA methyltransferases, ARGONAUTE) and the control of bud phenology (FTL genes) were differentially methylated. This indicates that the epitype-inducing temperature conditions induce an epigenetic memory involving specific DNA methylation changes in Norway spruce.publishedVersio

    Hysteresis in the Fundamentals of Macroeconomics

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    Two fundamental problems in economic analysis concern the determination of aggregate output, and the determination of market prices and quantities. The way economic adjustments are made at the micro level suggests that the history of shocks to the economic environment matters. This paper presents tractable approach for introducing hysteresis into models of how aggregate output and market prices and quantities are determined

    Epitype-inducing temperatures drive DNA methylation changes during somatic embryogenesis in the long-lived gymnosperm Norway spruce

    Get PDF
    An epigenetic memory of the temperature sum experienced during embryogenesis is part of the climatic adaptation strategy of the long-lived gymnosperm Norway spruce. This memory has a lasting effect on the timing of bud phenology and frost tolerance in the resulting epitype trees. The epigenetic memory is well characterized phenotypically and at the transcriptome level, but to what extent DNA methylation changes are involved have not previously been determined. To address this, we analyzed somatic epitype embryos of Norway spruce clones produced at contrasting epitype-inducing conditions (18 and 28°C). We screened for differential DNA methylation in 2744 genes related mainly to the epigenetic machinery, circadian clock, and phenology. Of these genes, 68% displayed differential DNA methylation patterns between contrasting epitype embryos in at least one methylation context (CpG, CHG, CHH). Several genes related to the epigenetic machinery (e.g., DNA methyltransferases, ARGONAUTE) and the control of bud phenology (FTL genes) were differentially methylated. This indicates that the epitype-inducing temperature conditions induce an epigenetic memory involving specific DNA methylation changes in Norway spruce
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