Columbamine, the central intermediate in the late stages of protoberberine biosynthesis

A specific methyltransferase which in the presence of S-adenosylmethionine [SAM] converts columbamine to palmatine has been demonstrated to occur in cell cultures. The enzyme acts only on the quaternary alkaloid as substrate, not on its tetrahydro derivative, which fact is in sharp contrast to previous claims

Canadine synthase from Thalictrum tuberosum cell cultures catalyses the formation of the methylenedioxy bridge in berberine synthesis

An enzyme system catalysing the formation of the methylenedioxy bridge at ring A of (S)-canadine [ = (S)-tetrahydroberberine] from (S)-tetrahydrocolumbamine has been detected in microsomal preparations from different Ranunculaceae and Berberidaceae cell cultures. The cytochrome P-450 enzyme complex has been partly characterized from a protoberberine alkaloid producing Thalictrum tuberosum L. cell line. The enzyme complex consisting of a microsomal associated oxidase with a cytochrome P-450 reductase has a pH optimum at pH 8.5 and a temperature optimum of 40°. The apparent Km values are 33 μM for NADPH and 11.5 μM for tetrahydrocolumbamine

What is global excess liquidity, and does it matter?

This paper endeavours to provide a comprehensive analysis of the nature and the possible importance of “global excess liquidity”, a concept which has attracted considerable attention in recent years. The contribution of this paper is threefold. First, we present some conceptual discussion on the meaning of excess liquidity in advanced countries with developed financial markets. Second, we report some descriptive analysis on the degree of co-movement of several possible measures of excess liquidity and spill-overs between them for a relatively large sample of industrialised and developing countries. Third, we estimate a VAR model for an aggregate of the major industrialised countries and analyse the transmission of shocks to global excess liquidity to the global economy, including possible cross-border spill-over effects to a number of domestic variables in the world’s three largest economies (the US, the euro area and Japan). JEL Classification: E52, F42Global excess liquidity, international economics, monetary policy, open economy

Business cycle synchronisation in East Asia

Against the background of the rapid inter- and intraregional integration of East Asia, we examine the extent and nature of synchronisation of business cycles in the region. We estimate various specifications of a dynamic common factor model for output growth of ten East Asian countries. A significant common factor is shared by all Asian countries considered, except China and Japan. The degree of synchronisation has fluctuated over time, with an upward trend particularly evident for the newly industrialised countries. Synchronisation appears to mainly reflect strong export synchronisation, rather than common consumption or investment dynamics. Cross-country spill-over effects explain only a small part of the comovement in the region. More importantly, a number of exogenous factors, such as the price of oil and the JPY-USD exchange rate, play an important role in synchronising activity. In addition, economic linkages with Europe and North America may also have contributed to the observed synchronisation. JEL Classification: E30, F00business cycles synchronisation, dynamic factor model, East Asia

The formation of corydaline and related alkaloids in Corydalis cava in vivo and in vitro

Kein Inhaltsverz

Leading indicators in a globalised world

Using OECD composite leading indicators (CLI), we assess empirically whether the ability of the country- specific CLIs to predict economic activity has diminished in recent years, e.g. due to rapid advances in globalisation. Overall, we find evidence that the CLI encompasses useful information for forecasting industrial production, particularly over horizons of four to eight months ahead. The evidence is particularly strong when taking cointegration relationships into account. At the same time, we find indications that the forecast accuracy has declined over time for several countries. Augmenting the country-specific CLI with a leading indicator of the external environment and employing forecast combination techniques improves the forecast performance for several economies. Over time, the increasing importance of international dependencies is documented by relative performance gains of the extended model for selected countries. JEL Classification: C53, E32, E37, F47business cycle, forecast comparison, Globalisation, Leading Indicator, Structural change