Miracle-dz/UniFAR-FTUs huggingface dataset:
Rent Control & Capital Market

NWW Concept (North & all, 2009) determines the necessary threshold conditions for the transition from Limited Access Orders (LAO) to Open Access Orders (OAO). In this article, I offer a sufficient criterion for such a transition. What are the conditions under which a rent-seeking behavior becomes unprofitable for the elite? The article associates them with excess income losses in the financial sector, connected to undiversified private equity investments in comparison with rents, generated in the real sector from management control. The article presents the analytical tools that allow a comparison of the losses of incomes in the financial sector with controlled rents quantified at both micro- and macro-level. Further, the criteria is determined to distinguish the difference between the "economy of rents," in which elites remain more advantageous within a LAO even when the threshold conditions are satisfied and the "economy of wealth" where the elite will seek to establish an OAO. The conclusion made is that, in theory, LAO and OAO are completely reversible, although there are no historical precedents observed yet.
Enhanced exoinulinase production from Kluyveromyces marxianus YS-1 using response surface methodology

Optimization of critical medium components for exoinulinase production by Kluyveromyces marxianus YS-1 at shake-flask was investigated using response surface methodology (RSM) based on a central composite rotatable design (CCRD). A five-level with five factors CCRD was used to evaluate the influence of related factors including concentration of inulin, meat extract, calcium chloride, sodium dodecyl sulphate and medium pH. Optimum values obtained by RSM were 2% inulin, 2.17% meat extract, 0.65 mM calcium chloride, 0.10 mM sodium dodecyl sulphate and pH 5.5. Optimized medium projected a theoretical exoinulinase production of 63.61 IU/mL and biomass yield of 0.965 (OD600/10). Multiple correlation coefficient R was 0.9976 and 0.9605 for exoinulinase production and biomass yield, respectively, which being close to one, justified an excellent correlation between the predicted and experimental values. Maximum productivity of exoinulinase (64.05 IU/mL) obtained experimentally by RSM was more than double in comparison to earlier findings using classical one-variable-at-a-time technique.
EVALUATION OF COMPETITIVE ABILITY OF STAURASTRUM LUETKEMUELLERII (CHLOROPHYCEAE) AND MICROCYSTIS AERUGINOSA (CYANOPHYCEAE) UNDER P LIMITATION 1

The desmid Staurastrum luetkemuellerii Donat et Ruttner and the cyanobacterium Microcystis aeruginosa Kütz. showed pronounced differences in chemical composition and ability to maintain P fluxes. The cellular P:C ratio (Qp) and the surplus P:C ratio (Qsp) were higher in M. aeruginosa, indicating a lower yield of biomass C per unit of P. The subsistence quota (Qp) was 1.85 μg P·mg C−1in S. luetkemuellerii and 6.09 μg P·mg C−1in M. aeruginosa, whereas the respective Qp of P saturnted organisms (Qs) were 43 and 63 μg P·mg C−1. These stores could support four divisions in S. luetkemuellerii and three divisions in M. aeruginosa, which suggests that the former exhibited highest storage capacity (Qs/Q0). M. aeruginosa showed a tenfold higher activity of alkaline phosphatase than S. luetkemuellerii when P starved. The optimum N:P ratio (by weight) was 5 in S. luetkemuellerii and 7 in M. aeruginosa.
A Watershed Scale Assessment of Riparian Forests, with Implications for Restoration

A combination of air‐photo interpretation, field data, and Geographic Information System (GIS) analysis was used to map riparian areas that are likely to provide wood and shade to small‐ and medium‐sized streams and where, conversely, restoration might be most beneficial. The analysis encompassed all salmonid‐bearing waters of the Nooksack River basin, in northwest Washington State, plus small tributaries that were thought to contribute wood or effective shading. The size and composition of each riparian stand was examined to determine whether trees were large enough to contribute logs that would form pools in the adjacent channel, with pool‐forming size of wood a function of channel width. Riparian stands were classified according to whether they passed this pool‐forming test. Model results were an exact match to actual conditions in 69% of field‐verified stands. A large proportion (74%) of the stands failing the test in reaches of anadromous fish use were in agricultural areas. Passing stands typically had high shade levels, because both stream shade and effective large woody debris size are a function of the size of the trees relative to the size of the stream. The GIS layer of passing and failing riparian stands can be combined with layers depicting property ownership, threatened fish distribution, and other information to objectively prioritize riparian restoration locations and strategies.
In vitro properties of phytases from various microbial origins

Summary For the evaluation of the effectiveness of phytase preparations as feed additive, in vitro properties like temperature optimum, temperature stability, pH optimum and pH profile or proteolytic stability are of utmost importance. Although at present all commercial phytase preparations authorized as feed additives in the EU are produced by recombinant filamentous fungi and have similar in vitro properties (acidic pH optimum, narrow pH range, low thermostability) the diversity of microbial phytases is great. Microbial sources for phytases span from fungi and yeasts to bacteria. Some of the naturally occurring phytases were identified to have high thermostability and a broad pH range (e.g. Aspergillus fumigatus phytase). The bacterial Bacillus phytases generally differ from other phytases, having a pH optimum from 7.0 to 8.0, being Ca2+ dependent and highly specific for phytate. Thermostability can considerably be increased by protein engineering. A so-called Consensus phytase encoded by a synthetic gene was found to be stable in aqueous solutions at 70 °C and in feed at pelleting temperatures of 80–90 °C. The rate and site of inactivation of feed enzymes in the digestive tract are determined by their susceptibility to proteolytic enzymes. Highest residual activities after incubation in the presence of pepsin or in supernatants of stomach digesta was observed for Escherichia coli and Consensus phytases, while the Bacillus phytase was found to be most resistant to pancreatin. Comparative studies on in vitro properties of enzymes intended for use as feed additives provide valuable information for prediction of in vivo effectiveness.
Do Return Prediction Models Add Economic Value?

We compare statistical and economic measures of forecasting performance across a large set of stock return prediction models with time-varying mean and volatility. We find that it is very common for models to produce higher out-of-sample mean squared forecast errors than a model assuming a constant equity premium, yet simultaneously add economic value when their forecasts are used to guide portfolio decisions. While there is generally a positive correlation between a return prediction model’s out-of-sample statistical performance and its ability to add economic value, the relation tends to be weak and only explains a small part of the cross-sectional variation in different models’ economic value.
Microeconometric Evaluation of the Active Labour Market Policy in Switzerland

In the second half of the 1990s Switzerland introduced an ambitious active labour market policy (ALMP) encompassing a variety of programmes. We evaluate the effects of these programmes on individual employment probability using unusually informative data originating from administrative records. Using a matching estimator for multiple programmes, we find positive effects for one particular programme that is a unique feature of the Swiss ALMP. It consists of a wage subsidy for temporary jobs in the regular labour market that would otherwise not be taken up by the unemployed. We also find negative effects for traditional employment programmes operated in sheltered labour markets. For training courses the results are mixed.
Intraday Time-series Momentum: Evidence from China

This study conducts an investigation of intraday time-series momentum across four Chinese commodity futures contracts: copper, steel, soybean, and soybean meal. Our results indicate that the first half-hour return positively predicts the last half-hour return across all four futures. Furthermore, in metals markets, we find that first trading sessions with high volume or volatility are associated with the strongest intraday time-series momentum dynamics. Based on this, we propose an intraday momentum informed trading strategy that earns a return in excess of standard always long and buy-and-hold benchmarks.
Identification of Proteins Present in the Douglas Fir Ovular Secretion: An Insight into Conifer Pollen Selection and Development

A week before fertilization in Douglas fir, a secretion fills the micropylar chamber of the ovule that houses the engulfed pollen. This liquid initiates pollen tube formation. This secretion is rich in proteins. Proteomic analysis using gel electrophoresis, combined with quadrupole time‐of‐flight tandem mass spectrometry peptide sequencing, identified nine of the more abundant proteins as a 90 kDa xylosidase with an isoelectric point (pI) of 6.6, a 65 kDa xylosidase with a pI of 6.0, a 70 kDa invertase with a pI of 6.3, a 50 kDa invertase with a pI of 6.5, a 45 kDa galactosidase with a pI of 7.8, a 29 kDa galactosidase with a pI of 5.9, a 40 kDa aspartyl protease with a pI of 5.5, a 37 kDa peroxidase with a pI of 7.9, and a 33 kDa serine carboxypeptidase–like protein with a pI of 4.5. This research presents the first evidence that conifer ovular secretion proteins may influence pollen selection and development.
Metabolic control analysis of plant metabolism

Metabolic control analysis and its major coefficients are introduced. The importance of measuring both elasticity and concentration-control coefficients as well as flux-control coefficients is stressed. The conditions that need to be met before control analysis can be applied experimentally are emphasized. It is argued that successful application of this approach requires methods for the measurement of flux, maximum catalytic activities of enzymes and substrate contents. The measurement of flux by consumption of substrate, production of product, and the distribution of isotope after metabolism of labelled substrates is discussed. The need to ensure that measurements of enzymes and substrates are reliable and authenticated is stressed. Particular emphasis is placed on the ease with which such measurements can be invalidated in plant tissues, and ways for countering these difficulties are discussed.
Glycemic Potential of Extruded Barley, Cassava, Corn, and Quinoa Enriched With Whey Proteins and Cashew Pulp

Adding whey protein concentrate (WPC80) and cashew pulp (CP) to extruded snacks can reduce overall carbohydrate content. In this study, barley, cassava, corn meal and quinoa were blended with WPC80 (12.5 wt%) or with CP (12.5 wt%), then extruded and baked. The products' rapidly available glucose values or potential glycemic index were: quinoa (70%), barley (61%), corn (54%), and cassava (48%). Adding WPC80 with or without CP improved the glycemic potential values for barley and quinoa, but not for cassava, which increased from 61 to 77%. Adding WPC80 or CP had no effect on corn products.
Elemental concentrations in tree rings by PIXE: statistical variability, mobility, and effects of altered soil chemistry

Concentrations of up to 14 elements were determined from increment cores by proton-induced X-ray emission for dated series of annual rings of plantation Liriodendrontulipifera L. All trees were treated in 1965 with 841, 224, and 280 kg/ha of elemental N, P, K, respectively, and with either 0, 1683, or 3366 kg/ha of elemental Ca applied as pulverized agricultural limestone. Intraring elemental concentrations were not significantly different between earlywood and late-wood. Statistical variability of proton-induced X-ray emission elemental determinations was greatest for Al, Si, Cl, Cu, and Zn; concentrations of P, K, Ca, Mn, and Sr were least variable. Estimated standard errors among cores within trees averaged less than those among trees on a uniform site. Element mobility was tested in xylem core samples taken in 1965 and 1986. Liming significantly increased P, S, K, Ca, and Zn and decreased Mn in pre-1965 xylem. Retroactive liming effects were not detected for Mg, Al, Fe, Sr, or Ba; liming responses of .
Neuroprotective Effect of Eicosapentaenoic Acid in Hippocampus of Rats Exposed to γ-Irradiation*

Exposure to irradiation leads to detrimental changes in several cell types. In this study we assessed the changes induced in hippocampus by exposure of rats to whole body irradiation; the findings reveal that irradiation leads to apoptotic cell death in hippocampus, and as a consequence, long term potentiation in perforant path-granule cell synapses is markedly impaired. The evidence is consistent with the view that irradiation induced an increase in reactive oxygen species and that this leads to stimulation of the stress-activated protein kinase, JNK, and activation of the transcription factor, c-Jun. Consequent upon activation of JNK, a cascade of cell signaling events was stimulated that ultimately resulted in apoptosis, as suggested by parallel increases in cytochromec translocation, caspase-3 activation, poly(ADP-ribose) polymerase cleavage, and terminal dUTP nick-end labeling staining. Treatment of rats with eicosapentaenoic acid inhibited the irradiation-induced increase in reactive oxygen species production and the subsequent cellular signaling events, suggesting that oxidative stress triggered apoptotic cell death in the hippocampus of rats exposed to irradiation. Significantly, when the compromise in cell viability induced by irradiation was prevented by eicosapentaenoic acid, long term potentiation was sustained in a manner similar to that in the sham-treated control group.
Bilateral Linkages and the Dynamics of International Business Cycle Comovement

This paper uses uses a novel type of panel vector autoregression to establish that the well-known association between linkages and business cycle comovement has both intratemporal and intertemporal dimensions. When two countries are more closely linked (i.e., they trade more or hold more financial assets in each other), business-cycle fluctuations in one country have greater dynamic spillovers in the other. The association between linkages and dynamic spillovers varies across types of good traded, types of assets held, and whether the spillovers are traveling upstream or downstream. Import and export intensity are asymmetrically associated with spillovers; bilateral portfolio equity holdings are associated with comovement within quarters (but not at a delay of a quarter); the import of goods used for capital formation is strongly associated with spillovers both within quarters and at a delay of a quarter. The novel stylized facts shed new light on mechanisms for the international transmission of shocks in commonly used business cycle models: several mechanisms which the literature has found to strengthen the relationship between trade and business cycle correlation do not give rise to the intertemporal spillovers found in the data.
Aperçu des approches théoriques du rationnement du crédit (An Overview of Theoretical Approaches to Credit Rationing)

<b>French abstract:</b> Ce chapitre a pour objet, sur la base de la présentation du modèle d’intermédiation bancaire standard en macroéconomie financière, de montrer de manière non technique comment le relâchement progressif du corps d’hypothèses de départ permet de faire apparaître différentes configurations de rationnement du crédit. A cette fin, nous pratiquons une revue de littérature restreinte aux documents fondateurs. Il apparaît que le cadre actuel de la formalisation permet de prendre en compte, dans le contexte de mécanismes d’intermédiation complexe, une large gamme d’asymétries d’informations relatives aux emprunteurs, y compris sur les marchés interbancaires. Par ailleurs, l’asymétrie d’information relative aux marchés interbancaires est renforcée dans le cas de marchés décloisonnés, où les externalités résultant de la structure complexe des réseaux de banques se trouvent renforcées. <br><br><b>English abstract:</b> On the basis of the presentation of the model of standard banking inter-mediation in financial macroeconomics, the purpose of this chapter is,to demonstrate in a non-technical way how the gradual loosening of the initial set of assumptions allows different configurations of credit rationing to emerge. To this end, we propose a selective literature review. It appears that the current framework allows to take into account, in the context of complex inter-mediation mechanisms, a wide range of informational asymmetries on borrowers, including in inter-bank markets. Moreover, the asymmetry of information relating to inter-bank credit is reinforced in the case of global credit markets, where the externalities resulting from the complex structure of banking networks is reinforced.
When Push Comes to Shove: External Conditions, Necessity Entrepreneurship, and Startup Outcomes

We propose a novel methodology to causally identify the push effect of economic downturns on the fraction of necessity entrepreneurship, netting out the parallel deterrent effect of unemployment on opportunity entrepreneurship. Using a rich dataset of startup founders in the life sciences, we find that a one percentage point increase in the unemployment rate causes the share of necessity entrepreneurship to rise by 25 percent relative to the mean. Additionally, we find that startups founded by only necessity entrepreneurs perform worse than startups founded by at least one opportunity entrepreneur, although there is heterogeneity depending on the necessity founders’ employment background. Finally, we show that necessity entrepreneurship is a relevant factor in explaining the negative relationship between unemployment and startup performance outcomes.
Discrimination of Excellence: A Research Agenda

Discrimination is unjust or prejudicial treatment of different categories of people or things. Long-standing, ample evidence of discrimination and most important attempts exist to legally abolish, economically counter-weight and societally alleviate the negative impacts of discrimination around the world. Yet to this day, there is hardly any description of discrimination of excellence. Unfair treatment of outperformers occurs when focusing away from merit leads to economic inefficiency based on arbitrary decision making.
Impactul Investiţiilor Străine Directe Productive Asupra Importurilor De Bunuri Intermediare Şi De Materii Prime Din România (Impact of the Foreign Direct Investment from the Manufacturing Sector on the Romanian Imports of Intermediate Goods and of Raw Materials)

The English version of the article can be found at: <a href='https://ssrn.com/abstract=3113686'>https://ssrn.com/abstract=3113686</a>. <b>Romanian Abstract:</b> Creşterea exporturilor prin stimularea investiţiilor strǎine directe ar putea fi o soluţie pentru problema deficitelor persistente ale balanţei comerciale a României. Totuşi, într-un astfel de demers trebuie luate în considerare potenţialele efecte ale investiţiilor strǎine directe asupra unor categorii de importuri. Aceastǎ lucrare investigheazǎ relaţia dinamicǎ dintre investiţiile strǎine directe şi importurile economiei române de bunuri intermediare şi materii prime. Rezultatele indicǎ legǎturi cauzale între investiţiile strǎine directe şi importurile de bunuri intermediare, ceea ce sugereazǎ cǎ unele filiale din România ale companiilor multinaţionale preferǎ sǎ importe astfel de bunuri în loc sǎ le producǎ în ţarǎ sau sǎ le procure de la producǎtori interni. În schimb, nu am putut proba legǎturi cauzale între investiţiile strǎine directe şi importurile de materii prime. <b>English Abstract:</b> Increasing exports by stimulating the foreign direct investment could be a solution to the problem of the persistent trade balance deficit of Romania. However, in such an attempt there have to be taken into consideration the potential effects of the foreign direct investment on some categories of imports. This paper explores the dynamic relation between the foreign direct investment from the manufacturing sector and the Romanian imports of intermediate goods and raw materials. We found causality linkages between the foreign direct investment and the imports of intermediate goods, meaning that Romanian branches of the multinational companies prefer to import such goods instead of producing or buying from the domestic markets. Instead, we failed to identify any causality between the foreign direct investment and the imports of raw materials.
Chitosan Treatment: An Emerging Strategy for Enhancing Resistance of Greenhouse Tomato Plants to Infection by Fusarium oxysporum f.sp. radicis-lycopersici

The potential of chitosan, a non-toxic and biodegradable polymer of beta -1,4-glucosamine, for controlling fusarium crown and root rot of greenhouse-grown tomato caused by Fusarium oxysporum f.sp. radicis-lycopersici (FORL) was investigated. The amendment of plant growth substratum with chitosan at concentrations of 12.5 or 37.5 mg l-1 significantly reduced plant mortality, root rot symptoms and yield loss attributed to FORL. Maximum disease control was achieved with chitosan at 37.5 mg l-1, when plant mortality was reduced by more than 90% and fruit yield was comparable with that of non-infected plants. In the absence of FORL, chitosan did not adversely affect plant growth and fruit yield. Cytological observations on root samples from FORL-inoculated plants revealed that the beneficial effect of chitosan in reducing disease was associated with increased plant resistance to fungal colonization. In chitosan-treated plants, fungal growth was restricted to the epidermis and the cortex. Invading hyphae showed.
The Effects of the Euro on Interest Rate Sensitivity

Introduction of the euro altered the home currency financing markets for the euro zone firms in an unprecedented way. I study the consequences of the launch of the euro on interest rate sensitivity of the European stock markets, and find that while stock returns in most countries in the Western Europe were negatively correlated with interest rate changes prior to the euro, that correlation has disappeared since 1999. My evidence is consistent with hypothesis that recent growth in European corporate bond markets has enabled firms to better manage their interest rate risk.
Predation-mediated bird nest diversity: an experimental test

Differences in nesting characteristics among species of a bird community may increase the mean reproductive success of all species by decreasing mean predation levels on nests (the predation/diversity hypothesis). I tested this hypothesis by (i) manipulating nest-type richness using natural translocated nests, and (ii) correlating predation levels on artificial nests with understory bird richness. I translocated abandoned natural nests (158 nests in 1992 and 199 nests in 1993) of five species of passerines to four (in 1992) and five (in 1993) 1.5 km long transects (ravines) in two-species or five-species assemblages. Experiments conducted in hardwood forests of southern Illinois, U.S.A. , during two breeding seasons (1992 and 1993) showed significantly higher predation levels in low than high nest richness sites in 1992 and 1993, and in overall predation during both years. Predation levels, however, varied considerably within richness treatments. If high site-to-site variability in nest predation is not du.