Regional influences on U.S. monetary policy: some implications for Europe

This paper looks at the monetary policy decisions of the U.S. Federal Reserve and asks whether those decisions have been influenced solely by national concerns, or whether regional factors have played a role. All of the Federal Reserve''s policymakers have some regional identity, i.e., either their positions explicitly carry some regional affiliation or their region of origin is a factor that must be considered in the selection process. This research is relevant for the Fed, and it may also be relevant for Europe''s fledgling central bank in Frankfurt. Critics have asserted that ECB policymakers have an incentive to base policy on national developments and respond to national political pressures. We find that Fed policymakers do take into account developments in regional unemployment when deciding monetary policy, and that these regional developments are more important for central bankers at the hub than in the spokes. These findings are robust to a variety of different specifications of the voting equation

Regional Influences on U.S. Monetary Policy: Some Implications for Europe

This paper looks at the monetary policy decisions of the U.S. Federal Reserve and asks whether those decisions have been influenced solely by national concerns, or whether regional factors have played a role. All of the Federal Reserve's policymakers have some regional identity, i.e., either their positions explicitly carry some regional affiliation or their region of origin is a factor that must be considered in the selection process. This research is relevant for the Fed, and it may also be relevant for Europe's fledgling central bank in Frankfurt. Critics have asserted that ECB policymakers have an incentive to base policy on national developments and respond to national political pressures. We find that Fed policymakers do take into account developments in regional unemployment when deciding monetary policy, and that these regional developments are more important for central bankers at the hub than in the spokes. These findings are robust to a variety of different specifications of the voting equation.monetary policy, central banking

The Ch. E's Go Inspecting

Chemical engineers travel to various plants and factories in Cincinnati, Chicago, Detroit, etc

The Japanese Impact on Global Drone Policy and Law: Why a Laggard United States and Other Nations Should Look to Japan in the Context of Drone Usage

The global Unmanned Aircraft System, or unmanned aerial systems (UAS) revolution is poised to have an impact across a broad range of industries from agriculture to filmmaking. The United States has taken a difficult and slower path to implementing UAS policy, with Congress essentially mandating the Federal Aviation Administration (FAA) to take action in 2015. The FAA\u27s 624-page rulebook marks the first attempt of any comprehensive plan to regulate remote-controlled and commercial aircraft activity. Across the globe, Japan, a country with a proven track record in electronics and technology, is outpacing other countries in devising regulations that will increase UAS use to benefit the nation\u27s citizens. This paper argues that Japan\u27s historical experience with unmanned aviation vehicles (UAVS), beginning mainly in the 1980s in the agricultural sector, allowed the Japanese government to coalesce more quickly in revising their civil aviation law than most developed countries. This note examines Japan\u27s influence on UAS policy with the formation of regulations and adoption of new technology. More specifically, it looks at the United States as a case study as evidence of Japan\u27s influence on other developed nations

Designation of the Anterior/Posterior Axis in Pregastrula Xenopus laevis

AbstractA new fate map for mesodermal tissues in Xenopus laevis predicted that the prime meridian, which runs from the animal pole to the vegetal pole through the center of Spemann's organizer, is the embryo's anterior midline, not its dorsal midline (M. C. Lane and W. C. Smith, 1999, Development 126, 423–434). In this report, we demonstrate by lineage labeling that the column 1 blastomeres at st. 6, which populate the prime meridian, give rise to the anterior end of the embryo. In addition, we surgically isolate and culture tissue centered on this meridian from early gastrulae. This tissue forms a patterned head with morphologically distinct ventral and dorsal structures. In situ hybridization and immunostaining reveal that the cultured heads contain the anterior tissues of all three germ layers, correctly patterned. Regardless of how we dissect early gastrulae along meridians running from the animal to the vegetal pole, both the formation of head structures and the expression of anterior marker genes always segregate with the prime meridian passing through Spemann's organizer. The prime meridian also gives rise to dorsal, axial mesoderm, but not uniquely, as specification tests show that dorsal mesoderm arises in fragments of the embryo which exclude the prime meridian. These results support the hypothesis that the midline that bisects Spemann's organizer is the embryo's anterior midline

Employing a Use Factor to Distribute Monographic Funds

In the fall of 2012 East Carolina University’s Joyner Library was looking to create a new fund allocation formula. The current one at that time had been in use since 1982, and we felt there might be a better way of distributing money—a way that took into account current needs. To create the new fund allocation formula, we took a collection evaluation concept and married it with knowledge gained about fund allocation formulas through research of the literature and investigation into our own past. We ended up with a fund allocation formula that employs Bonn’s use factor and the average price paid per title per fund to achieve a more equitable distribution of funds