Unobserved Factor Utilization, Technology Shocks and Business Cycles

We derive a measure of technological change using firm-level panel data and controlling for imperfect competition, increasing returns and unobserved factor utilization. We show that the latter variable accounts for a relevant portion of the cyclicality of the Solow residual. Our key finding is that technological shocks result in a contraction of inputs on impact. Whilst this result is hard to reconcile with the transmission mechanism of real business cycle models, it is consistent with simple sticky-price models. Using survey information on the frequency and size of price revisions, we show that the evidence on the contractionary effects of technology shocks is indeed much stronger for firms with stickier prices.factor hoarding, technology shocks, business cycles

Labor effort over the business cycle

Unobservable labor utilization is recognized as a crucial feature of economic fluctuations. Yet very little is known on the behavior of work effort over the business cycle. By using firm-level panel data drawn from two high-quality sources, we obtain a microeconomic estimate of variable labor effort from a dynamic cost minimization set-up. We argue that, contrary to common assumptions, the relationship between effort and hours is not monotonic. During a recovery, if a critical level of hours per capita is reached (say, because of labor market rigidities), every additional hour is worked with decreasing effort, due to physical fatigue. We provide supporting evidence by estimating the structural parameters of a Taylor approximation of the effort function. Corroborating evidence has been obtained by estimating the elasticity of effort with respect to hours at different business cycle conditions.labor effort, factor hoarding, business cycles

Pricing behavior and the comovement of productivity and labor: evidence from firm-level data

Recent contributions have suggested that technology shocks have a negative short-run effect on labor input, contrary to the predictions of standard flexible-price models of the business cycle. Some authors have interpreted this finding as evidence in favor of stickyprice models, while others have either augmented flexible-price models in a number of ways or disputed the empirical finding itself. In this paper we estimate a number of alternative measures of TFP growth for a representative sample of Italian manufacturing firms and find a negative impact of productivity shocks on labor input. Furthermore, by relying on the firmlevel reported frequency of price reviews, we find that the contractionary effect is strong for firms with stickier prices, but it is weaker or not significant for firms with more flexible prices, consistently with the prediction of sticky-price models.Productivity shocks, Labor input, price stickiness

Spectral filtering for the resolution of the Gibbs phenomenon in MPI applications

open3Polynomial interpolation on the node points of Lissajous curves using Chebyshev series is an e effective way for a fast image reconstruction in Magnetic Particle Imaging. Due to the nature of spectral methods, a Gibbs phenomenon occurs in the reconstructed image if the underlying function has discontinuities. A possible solution for this problem are spectral filtering methods acting on the coefficients of the interpolating polynomial. In this work, after a description of the Gibbs phenomenon in two dimensions, we present an adaptive spectral filtering process for the resolution of this phenomenon and for an improved approximation of the underlying function or image. In this adaptive filtering technique, the spectral filter depends on the distance of a spatial point to the nearest discontinuity. We show the effectiveness of this filtering approach in theory, in numerical simulations as well as in the application in Magnetic Particle Imaging.openDe Marchi, Stefano; Erb, Wolfgang; Marchetti, Francesco.DE MARCHI, Stefano; Erb, Wolfgang; Marchetti, Francesc

Spectral filtering for the reduction of the Gibbs phenomenon of polynomial approximation methods on Lissajous curves with applications in MPI

Polynomial interpolation and approximation methods on sampling points along Lissajous curves using Chebyshev series is an effective way for a fast image reconstruction in Magnetic Particle Imaging. Due to the nature of spectral methods, a Gibbs phenomenon occurs in the reconstructed image if the underlying function has discontinuities. A possible solution for this problem are spectral filtering methods acting on the coefficients of the approximating polynomial. In this work, after a description of the Gibbs phenomenon and classical filtering techniques in one and several dimensions, we present an adaptive spectral filtering process for the resolution of this phenomenon and for an improved approximation of the underlying function or image. In this adaptive filtering technique, the spectral filter depends on the distance of a spatial point to the nearest discontinuity. We show the effectiveness of this filtering approach in theory, in numerical simulations as well as in the application in Magnetic Particle Imaging

A landmark for a green economy: towards a carbon-neutral world

Iberdrola S.A. is a utility company based in Spain and, with its current market capitalization of 74 billion €, by revenue it is the 7th energy company in the world. The analysis of each business segment (Networks, Renewables and Generation & Supply), together with the Discounted Cash Flow Model, provide interesting point of views regarding the solidity and the possibility of future sustainable growth by the Hispanic company

Spectral filtering for the resolution of the Gibbs phenomenon in MPI applications by Lissajous sampling

Polynomial interpolation and approximation methods on sampling points along Lissajous curves using Chebyshev series is an e-ffective way for a fast image reconstruc-tion in Magnetic Particle Imaging. Due to the nature of spectral methods, a Gibbs phenomenon occurs in the reconstructed image if the underlying function has discon-tinuities. A possible solution for this problem are spectral filtering methods acting on the coefficients of the approximating polynomial. In this work, after a description of the Gibbs phenomenon and classical filtering techniques in one and several dimensions, we present an adaptive spectral filtering process for the resolution of this phenomenon and for an improved approximation of the underlying function or image. In this adaptive filtering technique, the spectral filter depends on the distance of a spatial point to the nearest discontinuity. We show the e-ffectiveness of this filtering approach in theory, in numerical simulations as well as in the application in Magnetic Particle Imaging.ope

Defective DNA repair mechanisms in prostate cancer: impact of olaparib

The field of prostate oncology has continued to change dramatically. It has truly become a field that is intensely linked to molecular genetic alterations, especially DNA-repair defects. Germline breast cancer 1 gene (BRCA1) and breast cancer 2 gene (BRCA2) mutations are implicated in the highest risk of prostate cancer (PC) predisposition and aggressiveness. Poly adenosine diphosphate ribose polymerase (PARP) proteins play a key role in DNA repair mechanisms and represent a valid target for new therapies. Olaparib is an oral PARP inhibitor that blocks DNA repair pathway and coupled with BRCA mutated-disease results in tumor cell death. In phase II clinical trials, including patients with advanced castration-resistant PC, olaparib seems to be efficacious and well tolerated. Waiting for randomized phase III trials, olaparib should be considered as a promising treatment option for PC

Ion channel expression in human melanoma samples. in silico identification and experimental validation of molecular targets

Expression of 328 ion channel genes was investigated, by in silico analysis, in 170 human melanoma samples and controls. Ninety-one members of this gene-family (i.e., about 28%) show a significant (p 0.90 and p 90% in most cases). Such five genes (namely, SCNN1A, GJB3, KCNK7, GJB1, KCNN2) are novel potential melanoma markers or molecular targets, never previously related to melanoma. The “druggable genome” analysis was then carried out. Miconazole, an antifungal drug commonly used in clinics, is known to target KCNN2, the best candidate among the five identified genes. Miconazole was then tested in vitro in proliferation assays; it dose-dependently inhibited proliferation up to 90% and potently induced cell-death in A-375 and SKMEL-28 melanoma cells, while it showed no effect in control cells. Moreover, specific silencing of KCNN2 ion channel was achieved by siRNA transfection; under such condition miconazole strongly increases its anti-proliferative effect. In conclusion, the present study identified five ion channels that can potentially serve as sensitive and specific markers in human melanoma specimens and demonstrates that the antifungal drug miconazole, known to target one of the five identified ion channels, exerts strong and specific anti-melanoma effects in vitro

YinYang Bipolar Quantum Geometry and Bipolar Quantum Superposition Part I—A Background Independent Geometrical and Logical Exposition of Dirac 3-Polarizer Experiment

Bipolar quantum agent (BQA), bipolar quantum geometry (BQG) and bipolar dynamic logic (BDL) are introduced based on bipolar complementarity – a logical extension to Niels Bohr’s particle-wave YinYang duality principle. Complete geometrical background independence is proposed and BQG is proven completely background independent which leads to the notion of bipolar quantum superposition – an equilibrium-based logical approach to superposition. It is shown that the logical linearity of BDL can be unified with the physical nonlinearity of bipolar dynamic equilibrium. It is proven that a single polarized photon as a BQA can be logically channeled through the three polarizers in Dirac’s experiment with BDL regardless of quantum uncertainty. It is illustrated that BQG, BDL and bipolar probability adds analytical power to quantum mechanics. It is concluded that bipolar quantum superposition demystifies Schrödinger’s cat paradox from a weird quantum phenomenon to a logically comprehendible YinYang bipolar dynamic equilibrium interpretation of quantum superposition and leads to an analytical paradigm of quantum mechanics and quantum biology as presented in Part II of this work