2,045 research outputs found

    What caused the Great Moderation? : some cross-country evidence

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    Over the last 20 years or so, the volatility of aggregate economic activity has fallen dramatically in most of the industrialized world. The timing and nature of the decline vary across countries, but the phenomenon has been so widespread and persistent that it has earned the label: “the Great Moderation.” A growing body of research has focused on the Great Moderation and its possible explanations, especially as it applies to the U.S. experience. The literature documents the international dimension of this volatility reduction, but so far little is known about the possible causes from a cross-country perspective. Summers shows why the Great Moderation has indeed been a common feature of much of the industrialized world. Specifically, he focuses on the reduction in the volatility of GDP growth that occurred in the G-7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) and Australia. He uses international evidence to evaluate the merits of three likely explanations. He concludes that, from an international perspective, good luck in the form of smaller energy price shocks is not a compelling explanation for widespread moderation of GDP growth volatility. Rather, the Great Moderation is more likely due to better monetary policy outcomes and improved inventory management techniques.Gross domestic product ; Group of Seven countries ; Monetary policy

    Identification and normalization in Markov switching models of "business cycles"

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    Recent work by Hamilton, Waggoner and Zha (2004) has demonstrated the importance of identification and normalization in econometric models. In this paper, we use the popular class of two-state Markov switching models to illustrate the consequences of alternative identification schemes for empirical analysis of business cycles. A defining feature of (classical) recessions is that economic activity declines on average. Somewhat surprisingly however, this property has been ignored in most published work that uses Markov switching models to study business cycles. We demonstrate that this matters: inferences from Markov switching models can be dramatically affected by whether or not average growth in the 'low state' is required to be negative, rather than simply below trend. Although such a restriction may not be appropriate in all applications, the difference is crucial if one wants to draw conclusions about 'recessions' based on the estimated model parameters.Business cycles ; Recessions

    Anterior segment mesenchymal dysgenesis in a large Australian family is associated with the recurrent 17 bp duplication in PITX3

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    Purpose: A recurrent 17 bp duplication (c.657ins17bp) of a segment of the paired-like homeodomain transcription factor 3 (PITX3) gene on human chromosome 10 has been reported in seven families with autosomal dominant posterior polar cataracts with or without anterior segment mesenchymal dysgenesis (ASMD). ASMD can include Peters anomaly with corneal clouding, iridolenticular corneal adhesions, displaced Schwalbe's line, and cataract as described previously in a large Australian family. This study reports the examination of PITX3 in this Australian family. Methods: Clinical examinations of the proband and her relatives were performed as part of routine follow up. A polymerase chain reaction (PCR) based test for the duplication in PITX3 was developed, and DNA from 21 members of the proband's family was tested. Results: All clinically affected members of the family had the same 17 bp duplication of PITX3. There was no difference in the size of the duplication between the severely affected individuals and the more mildly affected individuals. Prenatal diagnosis was performed for two offspring of one affected person. In the first pregnancy, the fetus was shown to carry the duplication while in the second pregnancy, the fetus was shown to be homozygous for the normal allele. Conclusions: The results show that in some individuals within one family, duplication of this segment of PITX3 can result in severe symptoms leading to functional blindness while in other individuals in the same family or in other families, the same duplication leads to treatable cataract with minimal visual impairment

    Characteristics of a Green Turtle (Chelonia mydas) Assemblage in Northwestern Florida Determined During a Hypothermic Stunning Event

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    A hypothermic stunning event (i.e., cold-stunning event) during late Dec. 2000 and early Jan. 2001 involving an unprecedented number of sea turtles provided an opportunity to characterize the green turtle (Chelonia mydas) assemblage in St. Joseph Bay (Gulf County, Florida). In addition to 388 green turtles, the 401 cold-stunned turtles comprised 10 Kemp\u27s ridleys (Lepidochelys kempii) and three loggerheads (Caretta caretta). Most (337/401) of the turtles survived and were eventually released. To place this event in perspective, we categorize sea turtle cold-stunning events in the eastern United States as either acute or chronic. Acute cold-stunning events, like the one in St. Joseph Bay, occur only during unusually cold winters in shallow-water areas (\u3c 2m), where sea turtles are year-round residents. These are short-lived (\u3c 2 wk) events with low mortality rates (\u3c 30%) that affect principally green turtles. Chronic cold-stunning events occur every winter in areas where sea turtles are seasonal residents. These are long-lived (1-3 mo) events with high mortality rates (\u3e 60%) that affect primarily Kemp\u27s ridleys. All of the green turtles from St. Joseph Bay were neritic-phase juveniles, and the mean straight-line carapace length of this group was 36.6 cm (range = 25.0-75.3 cm, SD = 8.9). This assemblage of juvenile green turtles is the first documented along the northern Gulf of Mexico. Sequencing of mtDNA (mitochondrial DNA) from tissue samples taken from 255 of the green turtles revealed that about 81% were from the nesting populations in the United States (Florida) and Mexico (Yucatan). This assemblage is unusual in the United States because it does not have a substantial representation from the nesting population in Costa Rica (Tortuguero), the Atlantic\u27s largest green turtle nesting population. Based on necropsies of 51 of the green turtles, the sex ratio of this assemblage was female-biased (3.25 females: 1 male), which may be a result of warm incubation temperatures on the nesting beaches in Florida. The majority of the material found in the gastrointestinal tracts of the green turtles that died was turtle grass (Thalassia testudinum). This was the first time turtle grass has been identified as the primary diet of juvenile green turtles anywhere in the continental United States. Green turtles in St. Joseph Bay appear to have few direct threats, but the seagrass upon which these turtles primarily forage has suffered extensive damage from boat propellers

    Group metacognitive therapy for repetitive negative thinking in primary and non-primary generalized anxiety disorder: An effectiveness trial

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    Background Generalized anxiety disorder (GAD) is a common and highly comorbid anxiety disorder characterized by repetitive negative thinking (RNT). Treatment trials tend to exclude individuals with non-primary GAD, despite this being a common presentation in real world clinics. RNT is also associated with multiple emotional disorders, suggesting that it should be targeted regardless of the primary disorder. This study evaluated the acceptability and effectiveness of brief group metacognitive therapy (MCT) for primary or non-primary GAD within a community clinic. Methods Patients referred to a specialist community clinic attended six, two-hour weekly sessions plus a one-month follow-up (N=52). Measures of metacognitive beliefs, RNT, symptoms, positive and negative affect, and quality of life were completed at the first, last, and follow-up sessions. Results Attrition was low and large intent-to-treat effects were observed on most outcomes, particularly for negative metacognitive beliefs and RNT. Treatment gains increased further to follow-up. Benchmarking comparisons demonstrated that outcomes compared favorably to longer disorder-specific protocols for primary GAD. Limitations No control group or independent assessment of protocol adherence. Conclusions Brief metacognitive therapy is an acceptable and powerful treatment for patients with primary or non-primary GAD

    Nurses\u27 Alumnae Association Bulletin, June 1969

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    Alumnae President\u27s Message Officers and Chairmen Financial Report Progressive Changes at Jefferson School of Nursing Report Student Activities School of Practical Nursing Report Jefferson Expansion Report Clerk-Typist Report Committee Reports Resume of Alumnae Meetings Class News 1969 CLINIC Correspondence Notice

    Cyclotron resonance lineshape in a Wigner crystal

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    The cyclotron resonance absorption spectrum in a Wigner crystal is calculated. Effects of spin-splitting are modelled by substitutional disorder, and calculated in the coherent potential approximation. Due to the increasing strength of the dipole-dipole interaction, the results show a crossover from a double-peak spectrum at small filling factors to a single-peak spectrum at filling factors \agt 1/6. Radiation damping and magnetophonon scattering can also influence the cyclotron resonance. The results are in very good agreement with experiments.Comment: 4 pages REVTEX, attempt to append 3 figures that seem to have been lost last tim

    Reciprocal Efficiency of RNQ1 and Polyglutamine Detoxification in the Cytosol and Nucleus

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    Onset of proteotoxicity is linked to change in the subcellular location of proteins that cause misfolding diseases. Yet, factors that drive changes in disease protein localization and the impact of residence in new surroundings on proteotoxicity are not entirely clear. To address these issues, we examined aspects of proteotoxicity caused by Rnq1-green fluorescent protein (GFP) and a huntingtin's protein exon-1 fragment with an expanded polyglutamine tract (Htt-103Q), which is dependent upon the intracellular presence of [RNQ+] prions. Increasing heat-shock protein 40 chaperone activity before Rnq1-GFP expression, shifted Rnq1-GFP aggregation from the cytosol to the nucleus. Assembly of Rnq1-GFP into benign amyloid-like aggregates was more efficient in the nucleus than cytosol and nuclear accumulation of Rnq1-GFP correlated with reduced toxicity. [RNQ+] prions were found to form stable complexes with Htt-103Q, and nuclear Rnq1-GFP aggregates were capable of sequestering Htt-103Q in the nucleus. On accumulation in the nucleus, conversion of Htt-103Q into SDS-resistant aggregates was dramatically reduced and Htt-103Q toxicity was exacerbated. Alterations in activity of molecular chaperones, the localization of intracellular interaction partners, or both can impact the cellular location of disease proteins. This, in turn, impacts proteotoxicity because the assembly of proteins to a benign state occurs with different efficiencies in the cytosol and nucleus

    Polypeptide transfer from Hsp40 to Hsp70 molecular chaperones

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    Heat shock protein 40 (Hsp40) co-chaperones assist in cellular protein folding and degradation through the binding and delivery of non-native proteins to heat shock protein 70 (Hsp70). The mechanism for substrate transfer from Hsp40s to Hsp70 is unknown. Two recent studies provide new details that shed light on novel mechanisms for substrate recognition by Hsp40s and a common mechanism for polypeptide transfer to Hsp70