The inflation tax and the marginal welfare cost in a world of currency and deposits

Inflation (Finance) ; Purchasing power

Is there a case for "moderate" inflation?

Inflation (Finance)

What has become of the "stability-through-inflation" argument?

In this article, James B. Bullard and Alvin L. Marty begin by summarizing some popular arguments for positive steady-state rates of inflation based on the idea that a certain amount of inflation stabilizes economic performance. Then, synthesizing a number of disparate results in a single framework and using a general class of money-demand functions, they find that the stability-through-inflation arguments have either been completely replaced (by potent but unsettling results based on rational expectations) or called into question (by more sophisticated treatments of the adaptive expectations hypothesis).Inflation (Finance)

Early life-history studies of nearshore rockfishes and lingcod off Central California, 1987-92

This study focused on the physical and biological processes that influence the distribution, abundance, growth, and survival of young-of-the-year (YOY) rockfishes and lingcod along the central California coast. The annual somatic and reproductive condition of adult female blue rockfish corresponded to annual upwelling. Resulting larval production may correspond to the reproductive potential of adults; however, ultimate recruitment success of YOY is also effected by oceanographic conditions during their planktonic stage. Within a year, each species of settled YOY was observed concurrently and in relatively similar abundances at all study dive sites along the central coast. Most species of YOY exhibited similar growth patterns among stations and years. We found a high degree of interannual variability in the condition of adults and relative abundances of YOY. We believe a large part of this variability is due to annual oceanographic conditions, specifically upwelling. Marine reserves, which would protect populations of reproductively mature rockfishes and lingcod and insure 1arval production, have been suggested as an alternative to present management strategies for these species. However, a crucial question is whether or not larvae from adult fish in reserves would significantly contribute to replenishing stocks in other areas. This study was undertaken to assist in determining the feasibility of reserves to enhance nearshore rockfish and lingcod populations. (78pp.

The VST telescope control software in the ESO VLT environment

The VST (VLT Survey Telescope) is a 2.6 m Alt-Az telescope to be installed at Mount Paranal in Chile, in the European Southern Observatory (ESO) site. The VST is a wide-field imaging facility planned to supply databases for the ESO Very Large Telescope (VLT) science and carry out stand-alone observations in the UV to I spectral range. This paper will focus mainly on control software aspects, describing the VST software architecture in the context of the whole ESO VLT control concept. The general architecture and the main components of the control software will be described.Comment: 3 pages, 2 figures, ICALEPCS 2001 Conference, PSN#THAP05

2005 Nutrient and Sediment Monitoring Report Ballard Creek Near Arkansas/Oklahoma Line

The Illinois River Basin has experienced water quality impairment from non-point source pollution for many years. This fact was well documented in the State of Arkansas\u27 Water Quality Assessment report, the Soil Conservation Service River Basin Study, and several University of Arkansas studies. Thirty-seven sub-watersheds have been identified by the SCS in the Arkansas portion of the Illinois River basin. In the Arkansas portion of the Basin, the Illinois River, Evansville Creek, Baron Fork, Cincinnati Creek, Muddy Fork, Moores Creek, Clear Creek, Osage Creek and Flint Creek were all classified as not supporting their designated use as primary contact recreation streams. The identified causes of the impairment were: sediment, bacteria and nutrients. In 1997, the University of Arkansas completed a project that estimated the phosphorus loading from each of the thirty-seven sub-watersheds. This project also prioritized watersheds for implementation work based on phosphorus loads, nitrogen loads and total suspended solids loads per unit area. The thirty-seven sub-watersheds were grouped into Low (16), Medium (10) and High (11) categories based on phosphorus loadings. The selection of a sub-watershed for targeted intensive voluntary BMP implementation was based on the following criteria: a) the sub-watershed had to be above the current median value for phosphorus loading, b) there would be no sewage treatment plant in the sub-watershed, and c) land user interest. The Upper Ballard Creek watershed met all these requirements. The watershed covers 6700 hectares. The creek is listed in the High category with a unit area loading of 1.75 kg. per hectare per year. The median value for the thirty-seven watersheds was 0.73 kg. per hectare per year

Management of Hallucinations and Psychosis in Parkinson's Disease

This is the author's accepted manuscript, made available with permission of the publisher. The final published version is available from ScienceDirect: http://dx.doi.org/10.1016/j.amjopharm.2010.08.004 (See the Published Version link, above.)BACKGROUND: Hallucinations and psychosis are common in patients with Parkinson's disease (PD), with reported prevalences of up to 48% and 80%, respectively. However, few randomized, double-blind, placebo-controlled trials evaluating the treatment options have appeared in the literature. The studies that have been published were complicated by lack of agreement on the diagnosis of psychosis in PD, poor completion rates, mixed populations that included dementia, and other issues. Several reviews, guidelines, and consensus statements have sought to establish standards for treating these symptoms of PD. In 2006, the American Academy of Neurology (AAN) published a practice guideline (based on articles published up to 2004) for management of depression, psychosis, and dementia in patients with PD. Since then, a number of relevant studies have been published. OBJECTIVE: The purpose of this article was to review data that have appeared in the literature since publication of the AAN guideline regarding the management of hallucinations and psychosis in PD. METHODS: A literature search of the PubMed, CINAHL, and PsychInfo databases was conducted for human studies published in English from January 2004 to June 2010. All clinical studies were included except case reports and case series. Studies with <20 participants were also excluded. Search terms included psychosis, hallucinosis, hallucination, delusion, Parkinson, atypical antipsychotic, neuroleptic, aripiprazole, clozapine, olanzapine, quetiapine, risperidone, and ziprasidone. RESULTS: Thirteen studies were included in the review: 3 studies of clozapine, 7 studies of quetiapine, 2 head-to-head trials comparing quetiapine and clozapine, and 1 noncomparative trial of clozapine or quetiapine interventions. Most of the studies included participants with a mean age in the early to mid 70s and a mean duration of PD typically >10 years. CONCLUSIONS: Results of the identified studies suggested that patients with PD might benefit from long-term clozapine therapy. Results of the quetiapine studies were conflicting. However, no statistically significant difference in effectiveness was found between quetiapine and clozapine in comparative trials. The significance of the differences in treatment responses between patients with dementia and those without dementia remains unclear, and it was not possible to draw conclusions for or against other atypical antipsychotics because of insufficient evidence. Further studies are needed to address the methodologic issues in the current trials and to assess safety issues in larger cohorts