Keiretsu and Relationship-Specific Investment: A Barrier to Trade?

This paper develops a model of informal procurement within Japanese keiretsu so as to consider effects on intermediate-good imports, such as auto parts. Parts-suppliers make relationship-specific investments that benefit the auto-maker and prices are determined by bargaining after investment has been sunk. Although this investment raises efficiency, it limits the range of imports to less important parts such as tail pipes and it is possible that no parts are imported, despite lower foreign production costs. Lack of information concerning investment rents combined with counterintuitive effects on imports and Japanese production costs could create unwarranted perceptions of a trade barrier.

Keiretsu and Relationship-Specific Investment: Implications for Market-Opening Trade Policy

This paper considers the implications of relationship-specific investment within keiretsu for policies aimed at opening the Japanese market for intermediate goods, such as auto parts. Both VIEs applied to parts and VERs restricting Japanese exports of autos cause the keiretsu to import a wider range of parts, but of a relatively unimportant type, such as seat covers. Since keiretsu investment and output fall, the total value of U.S. parts exports may actually fall. For a given value of these exports, a VIE is less costly for U.S. consumers and Japanese producers, but a VER is preferred by U.S. automakers.

Efficient excitation of cavity resonances of subwavelength metallic gratings

One dimensional rectangular metallic gratings enable enhanced transmission of light for specific resonance frequencies. Two kinds of modes participating to enhanced transmission have already been demonstrated : (i) waveguide modes and (ii) surface plasmon polaritons (SPP). Since the original paper of Hessel and Oliner \cite{hessel} pointing out the existence of (i), no progress was made in their understanding. We present here a carefull analysis, and show that the coupling between the light and such resonances can be tremendously improved using an {\it evanescent} wave. This leads to enhanced localisation of light in cavities, yielding, in particular, to a very selective light transmission through these gratings.Comment: 4 pages, 5 figures, submitted to Phys. Rev. Let

High-Resolution Optical Studies on C-Phycocyanin via Photochemical Hole Burning

We have shown that both the native C-phycocyanin and its corresponding free biline chromophore undergo reversible, low-temperature photochemistry. We attribute this photochemistry to reversible proton-transfer processes and utilize the observed photoreaction for photochemical hole burning (PHB). Using narrow-band PHB experiments, we have been able to perform high-resolution optical studies and show that the protein-chromophore assembly forms a very rigid structure. The results lead to the conclusion that the light-induced proton transfer occurs most probably in the triplet state

Age-related shifts in bacterial diversity in a reef coral

This study investigated the relationship between microbial communities in differently sized colonies of the massive coral Coelastrea aspera at Phuket, Thailand where colony size could be used as a proxy for age. Results indicated significant differences between the bacterial diversity (ANOSIM, R = 0.76, p = 0.001) of differently sized colonies from the same intertidal reef habitat. Juvenile and small colonies (28 cm mean diam). Bacterial diversity increased in a step-wise pattern from juvenilessmallmedium colonies, which was then followed by a slight decrease in the two largest size classes. These changes appear to resemble a successional process which occurs over time, similar to that observed in the ageing human gut. Furthermore, the dominant bacterial ribotypes present in the tissues of medium and large sized colonies of C. aspera, (such as Halomicronema, an Oscillospira and an unidentified cyanobacterium) were also the dominant ribotypes found within the endolithic algal band of the coral skeleton; a result providing some support for the hypothesis that the endolithic algae of corals may directly influence the bacterial community present in coral tissues.Barbara Brown recieved funding from the Leverhulme Trust [www.leverhulme.ac.uk]; Grant number: EM-2013-058. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript

Limiting the valence: advancements and new perspectives on patchy colloids, soft functionalized nanoparticles and biomolecules

Limited bonding valence, usually accompanied by well-defined directional interactions and selective bonding mechanisms, is nowadays considered among the key ingredients to create complex structures with tailored properties: even though isotropically interacting units already guarantee access to a vast range of functional materials, anisotropic interactions can provide extra instructions to steer the assembly of specific architectures. The anisotropy of effective interactions gives rise to a wealth of self-assembled structures both in the realm of suitably synthesized nano- and micro-sized building blocks and in nature, where the isotropy of interactions is often a zero-th order description of the complicated reality. In this review, we span a vast range of systems characterized by limited bonding valence, from patchy colloids of new generation to polymer-based functionalized nanoparticles, DNA-based systems and proteins, and describe how the interaction patterns of the single building blocks can be designed to tailor the properties of the target final structures

Free recall test experience potentiates strategy-driven effects of value on memory.

People tend to show better memory for information that is deemed valuable or important. By one mechanism, individuals selectively engage deeper, semantic encoding strategies for high value items (Cohen, Rissman, Suthana, Castel, & Knowlton, 2014). By another mechanism, information paired with value or reward is automatically strengthened in memory via dopaminergic projections from midbrain to hippocampus (Shohamy & Adcock, 2010). We hypothesized that the latter mechanism would primarily enhance recollection-based memory, while the former mechanism would strengthen both recollection and familiarity. We also hypothesized that providing interspersed tests during study is a key to encouraging selective engagement of strategies. To test these hypotheses, we presented participants with sets of words, and each word was associated with a high or low point value. In some experiments, free recall tests were given after each list. In all experiments, a recognition test was administered 5 minutes after the final word list. Process dissociation was accomplished via remember/know judgments at recognition, a recall test probing both item memory and memory for a contextual detail (word plurality), and a task dissociation combining a recognition test for plurality (intended to probe recollection) with a speeded item recognition test (to probe familiarity). When recall tests were administered after study lists, high value strengthened both recollection and familiarity. When memory was not tested after each study list, but rather only at the end, value increased recollection but not familiarity. These dual process dissociations suggest that interspersed recall tests guide learners' use of metacognitive control to selectively apply effective encoding strategies. (PsycINFO Database Recor