Miracle-dz/UniFAR-FTUs huggingface dataset:
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 â€œglobal excess liquidityâ€ , 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 countries with developed financial markets, where the monetary base plays only a relatively minor quantitative role. Moreover, we analyse the theoretical channels through which shocks to excess liquidity may be transmitted across borders. The co-movement between several measures of excess liquidity across a relatively large number of countries is significant, but the evidence of cross-country spill-over of excess liquidity on excess liquidity and nominal spending abroad is not very strong. Last, we estimate an SVAR model for an aggregate of the major industrialised countries and analyse the transmission of shocks to global excess liquidity to a number of domestic variables in the worldâ€™s two largest economies (the US and the euro area). Our overall conclusion is that global excess liquidity appears to be a useful measure of the monetary policy stance at the level of the world economy. Moreover, there is some evidence that global excess liquidity shocks have some spill-over on output, the price level and asset prices in the euro area, while the US appears to be more insulated from global shocks
Role of the Polycystins in Cell Migration, Polarity, and Tissue Morphogenesis

Cystic kidney diseases (CKD) is a class of disorders characterized by ciliary dysfunction and, therefore, belonging to the ciliopathies. The prototype CKD is autosomal dominant polycystic kidney disease (ADPKD), whose mutated genes encode for two membrane-bound proteins, polycystin-1 (PC-1) and polycystin-2 (PC-2), of unknown function. Recent studies on CKD-associated genes identified new mechanisms of morphogenesis that are central for establishment and maintenance of proper renal tubular diameter. During embryonic development in the mouse and lower vertebrates a convergent-extension (CE)-like mechanism based on planar cell polarity (PCP) and cellular intercalation is involved in “sculpting” the tubules into a narrow and elongated shape. Once the appropriate diameter is established, further elongation occurs through oriented cell division (OCD). The polycystins (PCs) regulate some of these essential processes. In this review we summarize recent work on the role of PCs in regulating cell migration, the cytoskeleton, and front-rear polarity. These important properties are essential for proper morphogenesis of the renal tubules and the lymphatic vessels. We highlight here several open questions and controversies. Finally, we try to outline some of the next steps required to study these processes and their relevance in physiological and pathological conditions.
Permitted Oxygen Abundances and the Temperature Scale of Metal-poor Turnoff Stars

We use high-quality VLT/UVES published data of the permitted O I triplet and Fe II lines to determine oxygen and iron abundances in unevolved (dwarfs, turnoff, subgiants) metal-poor halo stars. The calculations have been performed both in LTE and non-LTE (NLTE), employing effective temperatures obtained with the new infrared flux method (IRFM) temperature scale by Ramírez & Meléndez, and surface gravities from Hipparcos parallaxes and theoretical isochrones. A new list of accurate transition probabilities for Fe II lines, tied to the absolute scale defined by laboratory measurements, has been used. Interstellar absorption has been carefully taken into account by employing reddening maps, stellar energy distributions and Strömgren photometry. We find a plateau in the oxygen-to-iron ratio over more than 2 orders of magnitude in iron abundance (-3.2 < [Fe/H] < -0.7), with a mean [O/Fe] = 0.5 dex (σ = 0.1 dex), independent of metallicity, temperature, and surface gravity. The flat [O/Fe] ratio is mainly due to the use of adequate NLTE corrections and the new IRFM temperature scale, which, for metal-poor F/early G dwarfs is hotter than most Teff scales used in previous studies of the O I triplet. According to the new IRFM Teff scale, the temperatures of turnoff halo stars strongly depend on metallicity, a result that is in excellent qualitative and quantitative agreement with stellar evolution calculations, which predict that the Teff of the turnoff at [Fe/H] = -3 is about 600-700 K higher than that at [Fe/H] = -1. Recent determinations of Hα temperatures in turnoff stars are in excellent relative agreement with the new IRFM Teff scale in the metallicity range -2.7 < [Fe/H] < -1, with a zero-point difference of only 61 K.
Tobacco Smoke: Involvement of Reactive Oxygen Species and Stable Free Radicals in Mechanisms of Oxidative Damage, Carcinogenesis and Synergistic Effects with Other Respirable Particles

Tobacco smoke contains many toxic, carcinogenic and mutagenic chemicals, as well as stable and unstable free radicals and reactive oxygen species (ROS) in the particulate and the gas phase with the potential for biological oxidative damage. Epidemiological evidence established that smoking is one of the most important extrinsic factor of premature morbidity and mortality. The objective of this study was to investigate oxidative and carcinogenic mechanisms of tobacco and synergistic action with other respirable particles in the respiratory system of smokers. Electron Paramagnetic Resonance (EPR) and spin-trapping techniques were used to study stable free radicals in the cigarette tar, and unstable superoxide anion (O2•−) and hydroxyl (HO•) radicals in the smoke Results showed that the semiquinone radical system has the potential for redox recycling and oxidative action. Further, results proved that aqueous cigarette tar (ACT) solutions can generate adducts with DNA nucleobases, particularly the mutagenic 8-hydroxy-2’-deoxyguanosine (a biomarker for carcinogenesis). Also, we observed synergistic effects in the generation of HO•, through the Fenton reaction, with environmental respirable particles (asbestos fibres, coal dust, etc.) and ambient particulate matter (PM), such as PM10, PM2.5 and diesel exhaust particles (DEP). The highest synergistic effects was observed with the asbestos fibres (freshly grounded), PM2.5 and DEP. Finally, we discuss results from our previous study of conventional cellulose acetate filters and “bio-filters” with hemoglobin impregnated activated carbon, which showed that these filters do not substantially alter the free radical content of smoke in the particulate and in the gaseous phase.
Human-like walking with knee stretched, heel-contact and toe-off motion by a humanoid robot

A humanoid robot, WABIAN-2R, capable of human-like walk with stretched knees and heel-contact and toe-off motions is proposed in this paper. WABIAN-2R has two 1-DOF passive joints in its feet to enable it to bend its toes in steady walking. Further, it has two 6-DOF legs, a 2-DOF pelvis, a 2-DOF trunk, two 7-DOF arms with 3-DOF hands, and a 3-DOF neck. In addition, a new algorithm for generating walking patterns with stretched knees and heel-contact and toe-off motions based on the ZMP criterion is described. In this pattern generation, some parameters of the foot trajectories of a biped robot are optimized by using a genetic algorithm in order to generate a continuous and smooth leg motion. Software simulations and walking experiments are conducted, and the effectiveness of the pattern generation and mechanism of WABIAN-2R, which have the ability to realize more human-like walking styles in a humanoid robot, are confirmed
Effect of Canagliflozin on Renal Threshold for Glucose, Glycemia, and Body Weight in Normal and Diabetic Animal Models

Background Canagliflozin is a sodium glucose co-transporter (SGLT) 2 inhibitor in clinical development for the treatment of type 2 diabetes mellitus (T2DM). Methods 14C-alpha-methylglucoside uptake in Chinese hamster ovary-K cells expressing human, rat, or mouse SGLT2 or SGLT1; 3H-2-deoxy-d-glucose uptake in L6 myoblasts; and 2-electrode voltage clamp recording of oocytes expressing human SGLT3 were analyzed. Graded glucose infusions were performed to determine rate of urinary glucose excretion (UGE) at different blood glucose (BG) concentrations and the renal threshold for glucose excretion (RTG) in vehicle or canagliflozin-treated Zucker diabetic fatty (ZDF) rats. This study aimed to characterize the pharmacodynamic effects of canagliflozin in vitro and in preclinical models of T2DM and obesity. Results Treatment with canagliflozin 1 mg/kg lowered RTG from 415±12 mg/dl to 94±10 mg/dl in ZDF rats while maintaining a threshold relationship between BG and UGE with virtually no UGE observed when BG was below RTG. Canagliflozin dose-dependently decreased BG concentrations in db/db mice treated acutely. In ZDF rats treated for 4 weeks, canagliflozin decreased glycated hemoglobin (HbA1c) and improved measures of insulin secretion. In obese animal models, canagliflozin increased UGE and decreased BG, body weight gain, epididymal fat, liver weight, and the respiratory exchange ratio. Conclusions Canagliflozin lowered RTG and increased UGE, improved glycemic control and beta-cell function in rodent models of T2DM, and reduced body weight gain in rodent models of obesity.
Precaution and Risk Aversion: Decomposing the Effect of Unemployment Benefits on Saving

Reduced form estimations of precautionary saving with respect to labor market risk have hitherto failed to consider that a decrease of say unemployment probability or an increase in unemployment insurance (UI) generosity affects saving not only by reducing the expected variance in earnings but also by raising expected earnings. This paper studies the possibility of decomposing the treatment effect of UI on asset accumulation into two parts; one part where more generous UI leads to raised expected earnings and a second part where a more generous UI reduces the expected variation in earnings. The decomposition is applied to rich Swedish register data on both financial assets and debt. UI’s effect on assets is identified with a kinked policy rule in the UI scheme. First, increased UI generosity has a significant effect, both economically and statistically, on asset holdings; a one percentage point increase in UI benefits decrease net financial asset holdings by 1 percentage point. Second, decomposing the total effect UI has on asset accumulation shows that raised expected earnings increase savings while a decreased variation in earnings decrease saving. Not accounting for the effect on expected earnings on saving underestimates the impact UI has on precautionary saving by 70 percent.
Needs Assessments In Public Policy

Part 1 Theoretical, contextual and methodological issues: introduction - assessing needs theory and practice needs and public services methodologies for needs assessment. Part 2 Needs assessments in practice: needs assessment and community care health needs assessment assessing community needs assessing housing needs assessing needs for legal services assessing labour market and training needs conclusion - themes and issues.
Effects of metformin and sitagliptin on glycolipid metabolism in type 2 diabetic rats on different diets

Introduction The aim of the study was to investigate the effects of metformin and sitagliptin on glycolipid metabolism in type 2 diabetes after different diets. Material and methods Seventy Male Sprague Dawley rats were fed with a high fat diet followed by streptozotocin treatment to induce type 2 diabetes. Then all rats were randomly divided into a control group, a metformin group (200 mg/kg), and a sitagliptin group (10 mg/kg). Each group was further divided into 4 groups receiving one load of high carbohydrate diet (45% glucose, 4.5 ml/kg), high fat diet (20% lipid emulsion, 4.5 ml/kg), high protein diet (20% whey protein, 10 ml/kg) or mixed meal, respectively. The caloric densities were all 33 kJ/kg. Postprandial blood glucose (P2BG), triglyceride (TG), glucagon-like peptide-1 (GLP-1), glucagon and insulin levels were measured. Results In the high carbohydrate group, sitagliptin was more efficient in lowering P2BG compared with metformin (p < 0.05). In the high-fat group, metformin was more powerful in lowering TG (p < 0.05) and P2BG (p < 0.05) levels because of its improvement of insulin sensitivity. In the high protein diet group, metformin did not reduce the P2BG level (p > 0.05), although it did reduce the TG level (p < 0.05). In the mixed diet group, metformin was more efficient in lowering P2BG (p < 0.05) but had a similar effect on TG (p > 0.05) compared with sitagliptin. Conclusions In the type 2 diabetic model, metformin and sitagliptin have different effects on glycolipid metabolism after different diets. If it is proved in type 2 diabetic patients, then different medicines may be recommended according to different diets in order to improve glycolipid metabolism.
Fractional cointegration between nominal interest rates and inflation: A re-examination of the Fisher relationship in the G7 countries

According to the Fisher hypothesis, the nominal interest rate is equal to the real interest rate, plus expected inflation. Results concerning the empirical validity of this hypothesis are not unanimous. These contradictions may be due to the fact that the usual concept of cointegration is too restrictive. We thus propose here to refer to the concept of fractional cointegration introduced by Granger (1986). We study the Fisher hypothesis by testing for the existence of a fractional cointegration relationship between nominal interest rates and inflation. Our results suggest that, for a large majority of G7 countries, such a relationship exists.
The impact of financial ratios on the financial performance of a chemical company

Purpose – The purpose of this paper is to examine the impact of financial ratios on the financial performance of a chemical company: LyondellBasell Industries (LYB). Some selected ratios: current ratio (CR) and quick ratio (QR) represent the liquidity ratios, debt ratio (DR) and debt equity ratio (DTER) represent the leverage ratios, while operating profit margin (OPM) and net profit margin (NPM) represent the profitability ratios. LYB faced financial problems after its merger and the financial performance of the company shrank to negative due to the world financial crisis. However, this company has bounced back after a year and is now the world's third largest chemical company based on revenue. Design/methodology/approach – The financial ratios were measured from 2004 to 2011, quarterly. A multiple regression model has been used and secondary data has been analyzed. Findings – The results shows that CR, QR, DR and NPM have a positive relationship while DTER and OPM have a negative relationship with the c.
Twenty-five years of heart transplantation at Papworth Hospital: Changes in factors influencing short- and long-term patient survival over time

years of heart transplantation data were used to identify factors associated with patient survival and investi- gate changes over time. Analysis was performed across 5 time eras - pre-triple therapy, post-triple therapy to 1990 and the remaining 15 years through 2005 divided into 3 groups of 5 years each. Both short- and long-term survival improved with the advent of triple therapy, but remained unchanged from the early 1990's. Mean donor and recipient age, proportion of female donors and recipients, transplants with two human leucocyte antigen (HLA)-DR mismatches, ischaemic and car- diopulmonary bypass times (CPB) have increased, while rates of rejection and infection have decreased over time. Female donor and recipient diagnosis were independent predictors of short-term mortality. Older age, recipient diagnosis, 2 or more early rejection episodes and number of HLA-A mismatches were independent predictors of mortality in the long- term. Survival rates after heart transplantation improved with advances in patient care, but have remained static since, dur- ing which time there have been increases in risk factors and use of more marginal donors.
Stock returns and volatility: Another look

Most empirical work examining the intertemporal mean-variance relationship in stock returns has tended to use relatively simple specifications of the mean and especially of the conditional variance. We augment the information set to include economic variables that other researchers have found to be important and use GARCH-M models to explore the relation between volatility and expected stock returns. We find that the additional variables have little impact on the conditional variance and that any intertemporal relationship between volatility and stock returns is weak or unstable. Our results signal the need for theoretical models of the intertemporal volatility-return relationship, and call for further studies of the determinants of the conditional variance of stock returns.
Earnings and Impression Management in Financial Reports: The Case of CEO Changes

This article examines earnings management, as well as the presentational format of graphs (impression management) in the financial reports of sixty-three Australian listed public companies that changed chief executive officers (CEOs). Prior U.S. evidence generally suggests downward earnings management in the year of senior management changes and upward earnings management in the following year (Pourciau, 1993). We argue that new managers not only have incentives to manage earnings but also have similar incentives to manipulate the impressions created by graphs in financial reports. Examining earnings and impression management at the same time also provides an opportunity to distinguish between alternative explanations for any observed earnings management. In the year of CEO change, we hypothesize and find evidence of downward earnings management and some limited evidence of unfavourable impression management of the key financial variables (KFVs) graphed. As posited, we find evidence of upward earnings management and some evidence of favourable impression management in the year after a CEO change. These results are strongest for the subsample in which the CEO change was prompted by a resignation rather than a retirement.
Deterministic Sensor Selection for Centralized State Estimation Under Limited Communication Resource

This paper studies a sensor selection problem. A group of sensors measure the state of a process and send their measurements to a remote estimator. Due to communication constraints, only limited sensors are allowed to communicate with the estimator. The paper intends to answer which sensors should be chosen such that the estimation performance of the estimator is optimized. Both reliable and packet-dropping channels are considered. It is required to minimize the steady-state estimation error covariance for reliable channels and to minimize the upper bound of the expected estimation error covariance for packet-dropping channels. For both scenarios, the original optimization problems are transformed to problems which can be solved by convex optimization techniques.
Power comparisons of Shapiro-Wilk , Kolmogorov-Smirnov , Lilliefors and Anderson-Darling tests

The importance of normal distribution is undeniable since it is an underlying assumption of many statistical procedures such as I-tests, linear regression analysis, discriminant analysis and Analysis of Variance (ANOVA). When the normality assumption is violated, interpretation and inferences may not be reliable or valid. The three common procedures in assessing whether a random sample of independent observations of size n come from a population with a normal distribution are: graphical methods (histograms, boxplots, Q-Q-plots), numerical methods (skewness and kurtosis indices) and formal normality tests. This paper* compares the power of four formal tests of normality: Shapiro-Wilk (SW) test, Kolmogorov-Smirnov (KS) test, Lillie/ors (LF) test and Anderson-Darling (AD) test. Power comparisons of these four tests were obtained via Monte Carlo simulation of sample data generated from alternative distributions that follow symmetric and asymmetric distributions. Ten thousand samples of various sample size were generated from each of the given alternative symmetric and asymmetric distributions. The power of each test was then obtained by comparing the test of normality statistics with the respective critical values. Results show that Shapiro-Wilk test is the most powerful normality test, followed by Anderson-Darling test, Lillie/ors test and Kolmogorov-Smirnov test. However, the power of all four tests is still low for small sample size.
Human Capital Spillovers in Manufacturing: Evidence from Plant-Level Production Functions

I assess the magnitude of human capital spillovers in US cities by estimating plant-level production functions. I use a unique firm worker matched dataset, obtained by combining the Census of Manufacturers with the Census of Population. After controlling for a plant's own human capital, plant fixed effects, and industry specific and state specific transitory shocks, I find that the output of plants located in cities that experience large increases in the share of college graduates rises more than the output of smaller plants located in cities that experience small increases in the share of college graduates. Several specification tests indicate that the estimated effect is unlikely to be completely spurious. First, within a city, spillovers between plants that rarely interact are zero, while spillovers between plants that often interact are significant. Second, density of physical capital in a city outside a plant has no effect on a plant's productivity. Third, most of the estimated spillover comes from high-tech plants. For low-tech plants, the spillover is virtually zero. The estimated productivity differences between cities with high and low levels of human capital match remarkably well differences in labor costs between cities and high and low level of human capital. Consistent with a model that includes both standard general equilibrium forces and spillovers, the productivity gains generated by human capital spillover are offset by increased labor costs.
Structural and functional features of a specific nucleosome containing a recognition element for the thyroid hormone receptor

The Xenopus thyroid hormone receptor βA (TRβA) gene contains an important thyroid hormone response element (TRE) that is assembled into a positioned nucleosome. We determine the translational position of the nucleosome containing the TRE and the rotational positioning of the double helix with respect to the histone surface. Histone H1 is incorporated into the nucleosome leading to an asymmetric protection to micrococcal nuclease cleavage of linker DNA relative to the nucleosome core. Histone H1 association is without significant consequence for the binding of the heterodimer of thyroid hormone receptor and 9‐cis retinoic acid receptor (TR/RXR) to nucleosomal DNA in vitro, or for the regulation of TRβA gene transcription following microinjection into the oocyte nucleus. Small alterations of 3 and 6 bp in the translational positioning of the TRE in chromatin are also without effect on the transcriptional activity of the TRβA gene, whereas a small change in the rotational position of the TRE (3 bp) relative to the histone surface significantly reduces the binding of TR/RXR to the nucleosome and decreases transcriptional activation directed by TR/RXR. Our results indicate that the specific architecture of the nucleosome containing the TRE may have regulatory significance for expression of the TRβA gene.