Effects of Government Programs on Corn, Soybeans, and Wheat Production in the U.S.

Agricultural Finance, Farm Management, Production Economics,

U.S. WHEAT STORAGE CONTROL UNDER JOINT CRITERIA OF MEAN BENEFITS AND PRICE VARIATION

A method based on stochastic dynamic programming is developed to derive efficiency frontiers for the trade-off between the long-run average social benefits and price variation. The method is used to quantify the importance of price variation per se as a criterion in U.S. wheat storage policy. The results suggest that a single criterion of maximum expected social benefits, calculated by the traditional surplus measures, is satisfactory because price variation is incidentally reduced enough that further reductions can be attained only a considerable opportunity cost.Crop Production/Industries,

Financial liberalization, market discipline and bank risk

In the literature on systemic banking crises, two common themes are: (1) Risky lending often follows bank liberalization. (2) Lack of market discipline encourages risky lending. That not all liberalizations are followed by financial crisis and that financial systems without market discipline sometimes operate without incident invites examination of these themes. In a test of six countries, we find that our measure of bank risk increases significantly in the wake of financial liberalizations, but only where depositors fail to discipline banks. Our measures of market discipline and bank risk, however, are persistently inversely related

When does financial liberalization make banks risky? : an empirical examination of Argentina, Canada and Mexico

In the literature on systemic banking crises, two common themes are: (1) lack of market discipline encourages risky lending and (2) financial liberalization or privatization lead to risky lending. However, there is evidence to suggest that neither financial liberalization nor weak market discipline always precedes risky lending. We test for depositor discipline and, separately for post-liberalization or post-privatization risky lending in Argentina, Canada, and Mexico. In the countries without market discipline, lending risk increases significantly in the wake of liberalization. Where depositors discipline banks, banks neither behave riskily nor does their risk increase in the wake of privatization. ; Economic Research Working Paper 9905Banks and banking - Argentina ; Banks and banking - Canada ; Banks and banking - Mexico ; Financial crises

Resveratrol Prevents High Fluence Red Light-Emitting Diode Reactive Oxygen Species-Mediated Photoinhibition of Human Skin Fibroblast Migration.

BackgroundSkin fibrosis is a significant medical problem that leads to a functional, aesthetic, and psychosocial impact on quality-of-life. Light-emitting diode-generated 633-nm red light (LED-RL) is part of the visible light spectrum that is not known to cause DNA damage and is considered a safe, non-invasive, inexpensive, and portable potential alternative to ultraviolet phototherapy that may change the treatment paradigm of fibrotic skin disease.ObjectiveThe goal of our study was to investigate the how reactive oxygen species (ROS) free radicals generated by high fluence LED-RL inhibit the migration of skin fibroblasts, the main cell type involved in skin fibrosis. Fibroblast migration speed is increased in skin fibrosis, and we studied cellular migration speed of cultured human skin fibroblasts as a surrogate measure of high fluence LED-RL effect on fibroblast function. To ascertain the inhibitory role of LED-RL generated ROS on migration speed, we hypothesized that resveratrol, a potent antioxidant, could prevent the photoinhibitory effects of high fluence LED-RL on fibroblast migration speed.MethodsHigh fluence LED-RL generated ROS were measured by flow cytometry analysis using dihydrorhodamine (DHR). For purposes of comparison, we assessed the effects of ROS generated by hydrogen peroxide (H2O2) on fibroblast migration speed and the ability of resveratrol, a well known antioxidant, to prevent LED-RL and H2O2 generated ROS-associated changes in fibroblast migration speed. To determine whether resveratrol could prevent the high fluence LED-RL ROS-mediated photoinhibition of human skin fibroblast migration, treated cells were incubated with resveratrol at concentrations of 0.0001% and 0.001% for 24 hours, irradiated with high fluences LED-RL of 480, 640, and 800 J/cm2.ResultsHigh fluence LED-RL increases intracellular fibroblast ROS and decreases fibroblast migration speed. LED-RL at 480, 640 and 800 J/cm2 increased ROS levels to 132.8%, 151.0%, and 158.4% relative to matched controls, respectively. These LED-RL associated increases in ROS were prevented by pretreating cells with 0.0001% or 0.001% resveratrol. Next, we quantified the effect of hydrogen peroxide (H2O2)-associated ROS on fibroblast migration speed, and found that while H2O2-associated ROS significantly decreased relative fibroblast migration speed, pretreatment with 0.0001% or 0.001% resveratrol significantly prevented the decreases in migration speed. Furthermore, we found that LED-RL at 480, 640 and 800 J/cm2 decreased fibroblast migration speed to 83.0%, 74.4%, and 68.6% relative to matched controls, respectively. We hypothesized that these decreases in fibroblast migration speed were due to associated increases in ROS generation. Pretreatment with 0.0001% and 0.001% resveratrol prevented the LED-RL associated decreases in migration speed.ConclusionHigh fluence LED-RL increases ROS and is associated with decreased fibroblast migration speed. We provide mechanistic support that the decreased migration speed associated with high fluence LED-RL is mediated by ROS, by demonstrating that resveratrol prevents high fluence LED-RL associated migration speed change. These data lend support to an increasing scientific body of evidence that high fluence LED-RL has anti-fibrotic properties. We hypothesize that our findings may result in a greater understanding of the fundamental mechanisms underlying visible light interaction with skin and we anticipate clinicians and other researchers may utilize these pathways for patient benefit

Exact Zeros of the Partition Function for a Continuum System with Double Gaussian Peaks

We calculate the exact zeros of the partition function for a continuum system where the probability distribution for the order parameter is given by two asymmetric Gaussian peaks. When the positions of the two peaks coincide, the two separate loci of zeros which used to give first-order transition touch each other, with density of zeros vanishing at the contact point on the positive real axis. Instead of the second-order transition of Ehrenfast classification as one might naively expect, one finds a critical behavior in this limit.Comment: 13 pages, 6 figures, revtex, minor changes in fig.2, to be published in Physical Review

1998 NORTH DAKOTA AGRICULTURAL OUTLOOK: REPRESENTATIVE FARMS 1997-2007

Net farm income for all representative farms except small size and low profit farms in 2007 will be higher than in 1998. Net farm income for small and low profit farms will remain the same and decrease, respectively, for the forecasting period. Cropland prices are projected to fall in all regions of North Dakota after having peaked in 1997. Cash rental rates are projected to follow cropland prices. Debt-to-asset ratios for most farms fall across the forecast period. Debt-to-asset ratios for the low profit and small size farms are higher than those for large and high profit farms.Net farm income, debt-to-asset ratios, cropland prices, land rental rates, farm operating expenses, capitalization rate, Production Economics,

ANALYSIS OF FARM FINANCING AND RISK MANAGEMENT FOR U.S. FARMERS

Significant changes under the 1996 FAIR Act and trade agreements are occurring in the U.S. farm sector. The changes will affect both the source and the magnitude of the business and financial risks that farmers will be required to manage. The objectives of this study were to investigate farmer plans regarding business expansion, timing of expansion, and expected financing of that business expansion and to analyze their financial services and risk management strategies. The study was based on data from a nationwide survey of subscribers to Top Operator farm magazine. The data were categorized into six groups for analysis: demographics, intergenerational transfer, debt characteristics, lender relationships, business expansion, and farmer expectations of their lenders. Statistical techniques were used to evaluate differences among farmers across regions of the country, types of farm businesses, and sizes of farm businesses.Farm credit, expansion plans, debt-to-asset ratio, farm demographics, financial tools, credit sources, financial services, non-traditional lending, Agricultural Finance, Risk and Uncertainty,

A new approximation scheme in quantum mechanics

An approximation method which combines the perturbation theory with the variational calculation is constructed for quantum mechanical problems. Using the anharmonic oscillator and the He atom as examples, we show that the present method provides an efficient scheme in estimating both the ground and the excited states. We also discuss the limitations of the present method.Comment: 14pages, to be published in Eur. J. Phy