bluuebunny/crossref_metadata_2025 huggingface dataset:
Local and long-range stability in tandemly arrayed tetratricopeptide repeats
Authors: Main Ewan R. G. , Stott Katherine , Jackson Sophie E. , Regan Lynne
Published: April 2005

The tetratricopeptide repeat (TPR) is a 34-aa α-helical motif that occurs in tandem arrays in a variety of different proteins. In natural proteins, the number of TPR motifs ranges from 3 to 16 or more. These arrays function as molecular scaffolds and frequently mediate protein–protein interactions. We have shown that correctly folded TPR domain proteins, exhibiting the typical helix–turn–helix fold, can be designed by arraying tandem repeats of an idealized TPR consensus motif. To date, three designed proteins, CTPR1, CTPR2, and CTPR3 (consensus TPR number of repeats) have been characterized. Their high-resolution crystal structures show that the designed proteins indeed adopt the typical TPR fold, which is specified by the correct positioning of key residues. Here, we present a study of the thermodynamic properties and folding kinetics of this set of designed proteins. Chemical denaturation, monitored by CD and fluorescence, was used to assess the folding and global stability of each protein. NMR-detected amide proton exchange was used to investigate the stability of each construct at a residue-specific level. The results of these studies reveal a stable core, which defines the intrinsic stability of an individual TPR motif. The results also show the relationship between the number of tandem repeats and the overall stability and folding of the protein.
Absence of the DNA-/RNA-binding protein MSY2 results in male and female infertility
Authors: Yang Juxiang , Medvedev Sergey , Yu Junying , Tang Linda C. , Agno Julio E. , Matzuk Martin M. , Schultz Richard M. , Hecht Norman B.
Published: April 2005

MSY2, a germ-cell-specific member of the Y-box family of DNA-/RNA-binding proteins, is proposed to function as a coactivator of transcription in the nucleus and to stabilize and store maternal and paternal mRNAs in the cytoplasm. In mice lackingMsy2, a normal Mendelian ratio is observed after matings between heterozygotes with equal numbers of phenotypically normal but sterile male and female homozygotes (Msy2–/–). Spermatogenesis is disrupted in postmeiotic null germ cells with many misshapen and multinucleated spermatids, and no spermatozoa are detected in the epididymis. Apoptosis is increased in the testes of homozygotes, and real-time RT-PCR assays reveal large reductions in the mRNA levels of postmeiotic male germ cell mRNAs and smaller reductions of meiotic germ cell transcripts. In females, there is no apparent decrease in either the number of follicles or their morphology in ovaries obtained from 2- and 8-day-oldMsy2–/–mice. In contrast, follicle number and progression are reduced in 21-day-oldMsy2–/–ovaries. In adultMsy2–/–females, oocyte loss increases, anovulation is observed, and multiple oocyte and follicle defects are seen. Thus,Msy2represents one of a small number of germ-cell-specific genes whose deletion leads to the disruption of both spermatogenesis and oogenesis.
Xantha-l
encodes a membrane subunit of the aerobic Mg-protoporphyrin IX monomethyl ester cyclase involved in chlorophyll biosynthesis
Authors: Rzeznicka Kamila , Walker Caroline J. , Westergren Tomas , Kannangara C. Gamini , von Wettstein Diter , Merchant Sabeeha , Gough Simon P. , Hansson Mats
Published: April 2005

Chlorophyll biosynthesis is a process involving ≈20 different enzymatic steps. Half of these steps are common to the biosynthesis of other tetrapyrroles, such as heme. One of the least understood enzymatic steps is formation of the isocyclic ring, which is a characteristic feature of all (bacterio)chlorophyll molecules. In chloroplasts, formation of the isocyclic ring is an aerobic reaction catalyzed by Mg-protoporphyrin IX monomethyl ester cyclase. An
in vitro
assay for the aerobic cyclase reaction required membrane-bound and soluble components from the chloroplasts. Extracts from barley (
Hordeum vulgare
L.) mutants at the
Xantha-l
and
Viridis-k
loci showed no cyclase activity. Fractionation of isolated plastids by Percoll gradient centrifugation showed that
xantha-l
and
viridis-k
mutants are defective in components associated with chloroplast membranes. The
Xantha-l
gene, corresponding to
Arabidopsis thaliana CHL27
,
Rubrivivax gelatinosus acsF
,
Chlamydomonas reinhardtii CRD1
, and
CTH1
and situated at the short arm of barley chromosome 3 (3H), was cloned, and the mutations in
xantha-l
35
,
xantha-l
81
, and
xantha-l
82
were characterized. This finding connected biochemical and genetic data because it demonstrated that
Xantha-l
encodes a membrane-bound cyclase subunit. The evidence suggests that the aerobic cyclase requires at least one soluble and two membrane-bound components.
Delayed maturation of receptive field center/surround mechanisms in V2
Authors: Zhang Bin , Zheng Jianghe , Watanabe Ichiro , Maruko Ichiro , Bi Hua , Smith Earl L. , Chino Yuzo
Published: April 2005

Neurons in the adult visual cortex are capable of integrating signals over a large area that surrounds their classic receptive field (RF), and this ability of cortical neurons is thought to be intimately involved in perceptual binding. It is not known, however, at what age these long-range signal interactions emerge. Here, we report that qualitatively adult-like center/surround interactions are already present in the primary visual cortex as early as postnatal day 14 in macaque monkeys. However, the RF surrounds of visual area 2 (V2) neurons were largely absent until 4 weeks of age and, as late as 8 weeks of age, center/surround signal interactions in V2 neurons were immature. Our results suggest that the cortical circuits underlying the RF center/surround of individual neurons mature considerably later in V2 than in the primary visual cortex and give critical evidence for the hypothesis that the functional maturation of the primate visual brain proceeds in a hierarchical manner.
An Early Pleistocene hominin mandible from Atapuerca-TD6, Spain
Authors: Carbonell E. , Bermúdez de Castro J. M. , Arsuaga J. L. , Allue E. , Bastir M. , Benito A. , Cáceres I. , Canals T. , Díez J. C. , van der Made J. , Mosquera M. , Ollé A. , Pérez-González A. , Rodríguez J. , Rodríguez X. P. , Rosas A. , Rosell J. , Sala R. , Vallverdú J. , Vergés J. M.
Published: April 2005

We present a mandible recovered in 2003 from the Aurora Stratum of the TD6 level of the Gran Dolina site (Sierra de Atapuerca, northern Spain). The specimen, catalogued as ATD6-96, adds to the hominin sample recovered from this site in 1994–1996, and assigned to
Homo antecessor
. ATD6-96 is the left half of a gracile mandible belonging to a probably female adult individual with premolars and molars in place. This mandible shows a primitive structural pattern shared with all African and Asian
Homo
species. However, it is small and exhibits a remarkable gracility, a trait shared only with the Early and Middle Pleistocene Chinese hominins. Furthermore, none of the mandibular features considered apomorphic in the European Middle and Early Upper Pleistocene hominin lineage are present in ATD6-96. This evidence reinforces the taxonomic identity of
H. antecessor
and is consistent with the hypothesis of a close relationship between this species and
Homo sapiens
.
Cesarean section: Is pretransfusion testing for red cell alloantibodies necessary?
Authors: Larsen Rune , Titlestad Kjell , Lillevang Søren Thue , Thomsen Sten Grove , Kidholm Kristian , Georgsen Jørgen
Published: April 2005

Background.  Routine pretransfusion testing for red cell alloantibodies (RBCab) in cesarean patients is standard practice in many obstetric centers. The objective of the present study was to evaluate the usefulness of this test.

Method.  A retrospective study was conducted using computerized registers to extract data on blood transfusions and the occurrence of RBCab in cesarean patients.

Results.  A total of 4434 admissions for cesarean section were identified. Only 10 patients (0.23%) had clinically significant RBCab, which had not been previously detected. Blood transfusions were required in relation to 147 cesarean sections (3.3%). A number of preoperative conditions, traditionally believed to be risk factors for preoperative and postpartum hemorrhage, occurred more frequently in transfused patients than in nontransfused. The probability of a cesarean patient having a previously undetected clinically significant RBCab and receiving a blood transfusion during admission for delivery was estimated to be 9.0 × 10−5 (1 in 11 050 cesarean sections). Analyses of the time relationships between cesarean sections and initiation of blood transfusions indicated that most often there would be enough time for postoperative antibody screening and/or cross matching if the routine pretransfusion testing was omitted.

Conclusion.  These findings suggest that routine pretransfusion testing in cesarean patients can be omitted.
Emergency cesarean delivery in induction of labor: an evaluation of risk factors
Authors: Cnattingius Ragnhild , Höglund Berit , Kieler Helle
Published: April 2005

Background.  Induction of labor has been associated with an increased risk of emergency cesarean delivery. Knowledge of factors that influence the risk of cesarean delivery in women with induced labor is limited.

Methods.  We performed a case–control study, nested within a population‐based cohort of women with induced labor at term during 1991–1996 in Uppsala County, Sweden. Cases were women delivered with emergency cesarean delivery, and controls were women vaginally delivered (n = 193, respectively). Using logistic regression, analyses were performed. Odds ratio (OR) with 95% confidence intervals (CI) was used as a measure of relative risk.

Results.  Women with a previous cesarean delivery had high risks of cesarean delivery (adjusted OR = 10.10, 95% CI = 3.30–30.92). The risk of cesarean delivery was also increased among nulliparous (adjusted OR = 4.92, 95% CI = 2.81–8.61), short (adjusted OR = 2.20, 95% CI = 1.06–4.59), and obese women (adjusted OR = 2.03, 95% CI = 1.07–3.84). A cervix dilatation less than 1.5 cm doubled the risk of cesarean delivery (adjusted OR = 2.26, 95% CI = 1.09–4.66). Mother's age, epidural analgesia, oxytocin augmentation, gestational age, and birthweight were not significantly associated with risks of cesarean delivery.

Conclusions.  Women with a previous cesarean delivery, nulliparous, short, and obese women with induced labor are at high risk of a cesarean delivery. When there is a need to deliver a woman with a previous cesarean section or a nulliparous woman with other risk factors for cesarean delivery, it may be prudent to consider an elective cesarean section.
Surgical and radiological management of uterine fibroids – a UK survey of current consultant practice
Authors: Taylor Alexander , Sharma Malini , Tsirkas Panos , Arora Rohit , Di Spiezio Sardo Attilio , Mastrogamvrakis George , Buck Lucie , Oak Mac , Magos Adam
Published: April 2005

Background.  The aim of this study was to determine the current surgical and radiological management of uterine fibroids by consultants working in the UK.

Methods.  A structured questionnaire was posted to all 1439 UK consultants. Non‐responders were sent one reminder. The main outcome measures were surgical route and technique used for myomectomy, and the use and availability of uterine artery embolization (UAE).

Results.  Eight hundred fifty‐two (59%) consultants replied. Seven hundred thirty‐five (86%) admitted to regular sessions of gynecologic surgery, and 75% of this group performed open myomectomy, 16% laparoscopic myomectomy, and 66% hysteroscopic myomectomy. Open myomectomy: Forty‐one percent of consultants performed open surgery on uteri equivalent to 12‐week gestational age or less, 87% prescribed preoperative gonadotrophin‐releasing hormone agonists (GnRHa) in order to reduce surgical bleeding, with 35% using myomectomy clamps, 23% tourniquets, and 19% vasoconstrictors. Laparoscopic myomectomy: The largest uterine size the majority would attempt was equivalent to a 12‐week gestation, 58·6% used preoperative GnRHa, 21% used intraoperative vasoconstrictors, and 1·4% tourniquets in order to minimize bleeding. Hysteroscopic myomectomy: As with laparoscopic myomectomy, the largest uterine size the majority would attempt was equivalent to a 12‐week pregnancy. Blood transfusion: Twenty per cent, 10%, and 7% reported the need for blood transfusion in up to 10% of patients undergoing open, laparoscopic, or hysteroscopic myomectomy, respectively. UAE: Fifty‐one percent have access to UAE and 40% have referred at least one patient in 2001.

Conclusions.  Open and hysteroscopic myomectomy are frequently utilized in contrast to laparoscopic myomectomy. The reported rate of blood transfusion appears low. Although UAE is widely available, the majority of patients are still managed surgically.
Genetics and assisted reproduction technology
Authors: Aittomäki Kristiina , Bergh Christina , Hazekamp Johan , Nygren Karl‐Gösta , Selbing Anders , Söderström‐Anttila Viveca , Wennerholm Ulla‐Britt
Published: April 2005

In the past 20 years, a significant improvement has been shown in the treatment for infertility in both women and men through the development of in vitro fertilization (IVF) and intracytoplasmic sperm injection (ICSI). Only donated sperm could be previously used for treatment; now oocytes can also be donated. Furthermore, the combination of IVF and ICSI with advanced genetic methods has made preimplantation genetic diagnosis possible for many genetic conditions. These methods enable genetic testing of the early human embryo by using only a single cell, one blastomere biopsied from the embryo, as the sample from which the diagnosis of many chromosome rearrangements and other inherited diseases can be made. It has also been established that a considerable proportion of infertility is caused by genetic defects, which have several implications for infertility treatment. The purpose of this review is to give a concise introduction on how genetics is involved in assisted reproduction technology to specialists who may not be working in this particular field of gynecology, but who would need some knowledge of this for proper care of their patients.
Temporal variations of genetic introgression in stocked brown trout populations
Authors: Poteaux C. , Beaudou D. , Berrebi P.
Published: April 2005

Allozymes were used to analyse the genetic impact of hatchery brown trout Salmo trutt a, morpha fario stocked in wild Mediterranean populations to gain a better understanding of the mechanisms of introgression (regulation, elimination or homogenization). Analysis of the genetic structure of populations from the same river drainage basin but subjected to different incidences was performed in space and time (data on two generations and 2 years of sampling). Introgression is associated with high deficits of heterozygotes and linkage disequilibria. Genetic divergence according to age group was observed. These results may indicate selective forces acting against domesticated genes and limiting hybridization between the two forms.
Changes in blood cortisol, glucose and lactate in carp retained in anglers’keepnets
Authors: Pottinger T. G.
Published: April 2005

Capture of carp Cyprinus carpio from holding tanks by dipnet, or from semi‐natural conditions by rod and line, elicits a physiological stress response characterized by elevation of plasma cortisol levels. The transfer of carp to keepnets subsequent to capture does not increase or reduce the magnitude or duration of this response and in both cases plasma cortisol levels have returned to pre‐stress levels within 24 h of the initial disturbance. The postcapture plasma cortisol elevation is accompanied by disturbances in plasma glucose and lactate levels but these are less consistent in severity and duration than the cortisol response. These data suggest that the retention of fish in keepnets following capture, does not represent a source of stress additional to that imposed by capture and has no effect on the rate of recovery of the fish from the initial capture stress.
Temperature magnified postcapture mortality in adult sablefish after simulated trawling
Authors: OLLA B. L. , Davis M. W. , Schreck C. B.
Published: April 2005

For sablefish Anoplopoma fimbria that had been transferred abruptly from ambient (5·7° C) to temperatures ranging from 15 to 20° C for 30 min followed by 15 min in air (19·5) C), mortality increased with temperature. Mortality occurred at lower temperatures for sablefish that were net‐towed for 4 h at ambient temperature before exposure to a rapid increase in temperature. A clear relationship was apparent between serum lactate and temperature with lactate increasing as temperature increased. For treatments in which mortality did not occur, lactate decreased sharply within 24 h, suggesting recovery. It would appear that the critical postcapture temperature for sablefish that reside and are captured at 4‐6° C, would be between 12 and 15° C. The results of this study suggest that fishery management strategies designed to increase postcapture survival of sablefish bycatch should include a consideration of the impact of exposure to seasonal thermoclines and seasonally elevated air temperatures.
Plasticity of smolting in spring chinook salmon: relation to growth and insulin‐like growth factor‐I
Authors: Beckman B. R. , Dickhoff W. W.
Published: April 2005

In two year classes of Willamette River spring chinook salmon, reared at the Willamette Hatchery, and two groups of Yakima River spring chinook salmon, one sampled from the Yakima River and the other reared in a hatchery, fish which had relatively high growth rates in the summer–autumn period smolted in the autumn as measured by increases in gill Na+ K+ AT Pase activity. In contrast, groups with relatively low growth rate did not smolt in the autumn. Plasma levels of insulin‐like growth factor‐I (IGF‐I) showed discrete differences between groups, with high levels associated with increased gill Na+ K+ AT Pase activities. These results demonstrate that smolting is plastic in spring chinook salmon, occurring in the autumn or the spring. In addition, smolting appeared to be related to growth rate; however, the relationships shown were correlational and causal mechanisms were not elucidated. Yet, the results do indicate a relationship between growth, an endocrine growth factor and smolting, suggesting a mechanistic link between developmental plasticity and the environment mediated by the endocrine system.
Sperm morphometry in the Atlantic salmon
Authors: Gage M. J. G. , And P. Stockley , Parker G. A.
Published: April 2005

This study sampled sperm from wild Atlantic salmon to explore relationships between sperm form and function. Detailed measurements of sperm morphometry (head, flagellum and total length) and sperm activity (longevity and % motility) were made from 24 reproductively active males (13 anadromous and 11 mature parr) on two occasions post‐stripping. There was significant between‐male variance in total sperm length but this variance was not related to body size. Despite this variance in sperm length, no relationships were found between a male's sperm activity (longevity or % motility) and his sperm length. There were also no relationships between sperm head length and flagellar length, and no evidence for a trade‐off between sperm length and numbers. It is suggested that the significant between‐male variance in sperm morphometry supports diploid control of spermatogenesis: haploid expression of sperm phenotype would be manifested as profound variance within (and not between) each male's spermatozoal characteristics.
Transmission of Cryptocotyle lingua cercariae in natural environments: a field experiment
Authors: Lysne D. A. , And A. Skorping , Hemmingsen W.
Published: April 2005

Atlantic cod were kept at two different depths in three cages placed at increasing distance from a rocky shore where natural infections of the digenean Cryptocotyle lingua occurred in the snail Littorina littorea. During a 6‐month period the fish kept at 0–2 m accumulated significantly more parasites than those kept at 2–4 m. Distance from the shore did not affect infection rates. We conclude that host location behaviour of cercariae influences the infection pattern under natural conditions, and that transmission from snail to fish can take place over large areas of coastal waters.
Population genetic studies of the Atlantic halibut in the North Atlantic Ocean
Authors: Foss A. , Imsland A. K. , Nævdal G.
Published: April 2005

Significant variation in frequency distribution of electrophoretically detectable protein variants between samples of Atlantic halibut Hippoglossus hippoglossus showed that the halibut from northern Norway and from the Faroes–Iceland–Greenland region may not belong to one panmictic population.
Diel plasma melatonin profile in a cyclostome, the river lamprey
Authors: Mayer I. , Elofsson H. , And U. Bergman , Bengtson J.
Published: April 2005

Plasma melatonin levels in adult river lampreys Lampetra fluviatilis, sampled during their upstream migration showed a pronounced diel profile, with high levels during the night and lower levels during the day, showing that a cyclostome, in common with other vertebrates, exhibits such a diel plasma profile.
How we do it: Application of LigasureTM Vessel Sealing System in patients undergoing total laryngectomy and radical neck dissection
Authors: Prokopakis E.P. , Lachanas V.A. , Karatzanis A.D. , Benakis A.A. , Velegrakis G.A.
Published: April 2005

Keypoints

• The LigasureTM Vessel Sealing System (LVSS) provides haemostasis by denaturating collagen and elastin from the vessel wall and surrounding connective tissue.

• LVSS is efficient for ligation of vessels of up to 7 mm in diameter, and these seals can withstand a minimum of three times normal systolic pressure.

• LVSS delivers a precise amount of energy, according to the grasped tissue's density resulting in limited thermal injury to adjacent tissues.

• We report the efficacy of the LVSS device in a case series of total laryngectomy and radical neck dissection procedures. LVSS has proved a reliable device, providing safe and time‐saving haemostasis during these procedures.
A laboratory and clinical evaluation of single‐use instruments for tonsil and adenoid surgery
Authors: Tomkinson A. , Phillips P. , Scott J.B. , Harrison W. , De Martin S. , Backhouse S.S. , Temple M.
Published: April 2005

Objectives:  To compare the quality and consistency of single‐use adenotonsillectomy instruments available in the UK with reusable instruments and examine their performance in a clinical setting.

Design:  A laboratory assessment of each reusable instrument created a detailed specification for the respective single‐use equivalent. A surveillance system monitored the performance of a selected set of specified single‐use instruments.

Setting:  Single‐use instruments were withdrawn shortly after their introduction in 2001. Persisting concerns from the Spongiform Encephalopathy Advisory Committee led to an investigation into the feasibility of continuing to use such instruments.

Main outcome measures:  The numbers of instruments from each set judged as unacceptable or as good as the original. The number and cause of instrument failure during clinical surveillance.

Results:  Between 40% and 93% of the instruments on each set were as good as the original and between 0% and 40% of the instruments were unacceptable from six sets of steel and one set of polymer instruments. 4151 procedures were monitored between 1 February 2003 and 31 March 2004 using a total of 41 376 instruments. Problems were reported with 335 (0.8%) instruments, 46% attributable to instrument design, 14% to poor design control and 13% to instruments escaping quality control systems. Following correction of the faults, between 1 January 2004 and 31 March 2004 the problem rate fell to 0.4%.

Conclusions:  High quality single‐use instruments for tonsil and adenoid surgery are available in the UK. Some companies offered inferior instruments not fit for their purpose. The procurement, introduction and subsequent clinical approval of single‐use instruments requires a radically different approach to that currently applied to the purchase of reusable surgical equipment. Careful monitoring of their introduction is essential.
A novel function of WAVE in lamellipodia: WAVE1 is required for stabilization of lamellipodial protrusions during cell spreading
Authors: Yamazaki Daisuke , Fujiwara Takashi , Suetsugu Shiro , Takenawa Tadaomi
Published: April 2005

When a cell spreads and moves, reorganization of the actin cytoskeleton pushes the cell membrane, and the resulting membrane protrusions create new points of contact with the substrate and generate the locomotive force. Membrane extension and adhesion to a substrate must be tightly coordinated for effective cell movement, but little is known about the mechanisms underlying these processes. WAVEs are critical regulators of Rac‐induced actin reorganization. WAVE2 is essential for formation of lamellipodial structures at the cell periphery stimulated by growth factors, but it is thought that WAVE1 is dispensable for such processes in mouse embryonic fibroblasts (MEFs). Here we show a novel function of WAVE in lamellipodial protrusions during cell spreading. During spreading on fibronectin (FN), MEFs with knockouts (KOs) of WAVE1 and WAVE2 showed different membrane dynamics, suggesting that these molecules have distinct roles in lamellipodium formation. Formation of lamellipodial structures on FN was inhibited in WAVE2 KO MEFs. In contrast, WAVE1 is not essential for extension of lamellipodial protrusions but is required for stabilization of such structures. WAVE1‐deficiency decreased the density of actin filaments and increased the speed of membrane extension, causing deformation of focal complex at the tip of spreading edges. Thus, at the tip of the lamellipodial protrusion, WAVE2 generates the membrane protrusive structures containing actin filaments, and modification by WAVE1 stabilizes these structures through cell‐substrate adhesion. Coordination of WAVE1 and WAVE2 activities appears to be necessary for formation of proper actin structures in stable lamellipodia.
Zinc finger domain of Snail functions as a nuclear localization signal for importin β‐mediated nuclear import pathway
Authors: Yamasaki Hideki , Sekimoto Toshihiro , Ohkubo Tadashi , Douchi Tsutomu , Nagata Yukihiro , Ozawa Masayuki , Yoneda Yoshihiro
Published: April 2005

Snail, a DNA‐binding zinc finger protein, functions as a transcriptional repressor for genes including E‐cadherin during development and the acquisition of tumor cell invasiveness. Human Snail is a 264‐amino acid nuclear protein with an amino‐terminal basic amino acid‐rich domain (SNAG domain) and a carboxyl‐terminal DNA‐binding domain (zinc finger domain). A series of fusion proteins composed of green fluorescent protein (GFP) and portions of the Snail protein were generated, and their subcellular localization was examined. Fusion of the four zinc fingers to GFP led to the targeting of GFP to the nucleus, demonstrating that the zinc finger domain is sufficient for nuclear localization. Using an in vitro transport system, the nuclear import of Snail was reconstituted by importin (karyopherin) β in the presence of Ran and NTF2. We further demonstrated that Snail binds directly to importin β in a zinc finger domain‐dependent manner. These results indicate that zinc finger domain of Snail functions as a nuclear localization signal and Snail can be transported into the nucleus in an importin β‐mediated manner.
Malnutrition and Child Labor
Authors: Genicot Garance
Published: April 2005

In pre‐industrial and developing economies, it is common to find (i) entire families, including children, working together in family farms or urban factories; and (ii) a positive link between a person's consumption and her productivity. This paper argues that there is a natural reason for the concurrence of (i) and (ii). As a rule, households are characterized by intra‐household altruism: an increase in the income of an individual increases the consumption of all household members. Hence, when an employer pays an adult worker a high wage to enhance her productivity, part of it ends up augmenting her children's consumption and productivity. One way for the employer to prevent this leakage and internalize the externality is to employ the children as well. This explains the higher incidence of family labor in poor societies where (ii) is more likely to be true.
Should Governments Subsidise Inward Foreign Direct Investment?
Authors: Skaksen Mette Rose
Published: April 2005

What happens when a government has incentives to subsidise inward FDI when labour markets are imperfectly competitive? Contrary to the traditional assumption in the literature, we allow the production in the multinational firm to either complement or substitute for local production. A new result is that the wage in the host country may decrease when production is moved to this country. The reason is that the union in the host country internalises product market externalities between the firms. Furthermore, it is shown that when a single country subsidises inward FDI, total world welfare might increase.
The Triple Inefficiency of Uncoordinated Environmental Policies
Authors: Hoel Michael
Published: April 2005

When pollution is transboundary and there is international trade, a domestic inefficiency may arise in addition to the well‐known inefficiencies at the international level. More precisely, there will be a Nash equilibrium in which each country chooses a policy that gives it lower welfare than would otherwise be possible given the emission levels of all countries. However, there will also be a Nash equilibrium in which each country chooses tradable emission quotas as its policy instrument to achieve its desired level of emissions. In this Nash equilibrium, welfare in each country is maximised given the emission levels of all countries.
Making the Best of a Bad Job? Female Part‐Timers’ Orientations and Attitudes to Work
Authors: Walters Sally
Published: April 2005

This article uses data from 50 qualitative interviews with female part‐time workers in low‐level jobs in Britain to illustrate their attitudes, orientations and aspirations towards paid work. The research reports two main findings. Firstly, even female part‐time workers at the bottom end of the occupational structure are not a homogeneous group of workers. Secondly, they are not all highly satisfied with their jobs. The article argues that many women (especially those in working‐class households) still do not have a genuine choice between ‘family work’ and ‘market work’. It concludes by presenting a theoretical model of orientations to work.
GLOBALIZATION OF CAPITAL MARKETS AND THE ASIAN FINANCIAL CRISIS
Authors: Kim E. Han
Published: April 2005

This article has three basic aims: (1) to analyze the impact of the opening of their capital markets on the economies of host countries; (2) to investigate the causes of the Asian financial crisis; and (3) to evaluate the likely effects of the South Korean government's recent attempts to restructure its corporate sector.

Although the recent Asian financial crisis has led some to question the merits of open capital markets and to call for regulatory restraints on capital flows across international borders, the scientific evidence suggests that the opening of stock markets to foreign investors has been largely beneficial for emerging economies. On average, stock market liberalization has been accompanied by increases in stock prices and reductions in stock return volatility, reductions in inflation, and reductions in the rate of currency depreciation.

Much of the blame for the Asian currency crises is assigned to Asian policymakers' futile attempts to defy market forces by trying to maintain their currencies at artificially high levels. But a more fundamental cause of Asia's economic problems has been the widespread value destruction by Asian corporations, which has led to a lower value for the overall economy and weakened the banking sector. The government‐directed banking systems and weak corporate governance structures (including managerial incentives to increase size and market share at the expense of shareholders) that characterize most Asian economies have resulted in systematic overinvestment, bloated payrolls, and sharp declines in corporate profitability.

While applauding most of the Korean government's recent measures to reform the economy, the article expresses skepticism about the government‐mandated restructuring of the chaebol known as the “big deal.” Rather than trying to direct the process of restructuring, Korean policymakers should limit their efforts to improving the market mechanism by increasing competition in the markets for capital, corporate control, and goods and services. The Korean market for corporate control transactions could be greatly improved by increasing the efficiency of bankruptcy proceedings and by allowing hostile takeovers by foreign as well as domestic investors. To increase the productivity of capital, Asian companies should seek to realign managerial with shareholder interests by tying compensation to measures of value creation like EVA.
WHICH CAPITALISM? LESSONS FORM THE EAST ASIAN CRISIS
Authors: Rajan Raghuram G. , Zingales Luigi
Published: April 2005

As a result of the Asian crisis, relationship‐based economic systems are now under attack for corruption and inefficiency. Yet, until recently, they were held up as an alternative (and in some respects superior) form of capitalism to the arm's‐length, market‐based, Anglo‐Saxon systems of the U.S. and the U.K.

What went wrong? This paper suggests that relationship‐based systems work well when contracts are poorly enforced and capital is scarce. Power relationships substitute for contracts, and can achieve better outcomes than a primitive contractual system. But a relationship‐based system suppresses the price system and the signals it provides. As a result, relationship‐based systems are likely to misallocate capital when presented with large external capital inflows. Since the external capital comes from arm's length investors who typically have few contractual rights or little power in a relationship system, and since these investors are aware of the potential for misallocation, they rationally choose to maintain control over borrowers by keeping their claims short term. Thus, the contact between the two systems creates a fragile hybrid that, while mutually beneficial to relationship borrowers and arm's length investors in normal times, is excessively prone to shocks.

Where do we go from here? The authors suggest that while there may be some short‐term benefits for emerging economies from reverting to the pure relationship‐based system, in the long run such economies will be held back unless they develop the greater disclosure, contract enforcement, and competition of the arm's‐length system. The current Asian crisis may be the most opportune moment for these economies to effect the transition between systems.
THE ACTIVE BOARD OF DIRECTORS AND ITS EFFECT ON THE PERFORMANCE OF THE LARGE PUBLICLY TRADED CORPORATION
Authors: MacAvoy Paul W. , Millstein Ira M.
Published: April 2005

In recent years, boards of directors have become more active and independent of management in pursuing shareholder interests. But, up to this point, there has been little empirical evidence that active boards help companies produce higher rates of return for their shareholders. In this article, after describing the new board activism, the authors argue that past failures to document an association between independent boards and superior corporate performance can be explained by two features of the research: its concentration on periods prior to the 1990s (when most boards were largely irrelevant) and its use of unreliable proxies (such as a minimum percentage of outside directors) for a well‐functioning board.

The authors hypothesize that an independent and resourceful board takes steps that require management to increase earnings available to investors. To test this hypothesis, the performance of a sample of large U.S. corporations was examined over the period 1991‐1995 using two proxies for the “professionalism” of each company's board: (1) the letter grades (A+ to F) assigned by CalPERS for corporate governance; and (2) a “presence” or “absence” grade based on three key indicators of professional board behavior. Both of these governance metrics were associated in statistically significant ways with superior corporate performance, as measured by earnings in excess of cost of capital and net of the industry average. While acknowledging that such results do not prove causation, the authors conclude that, in the first half of the 1990s, corporations with active and independent boards added significantly more value for shareholders than those with passive, “rubber‐stamp” boards.
THE CASE FOR AN INDONESIAN CURRENCY BOARD
Authors: Culp Christopher L. , Hanke Steve H. , Miller Merton H.
Published: April 2005

In February 1998, after consulting one of the authors of this article, President Suharto and his Economic and Monetary Resilience Council advocated the establishment of a fixed‐rate currency board system in which the Indonesian rupiah would be backed by and convertible into U.S. dollars as a reserve currency. But the proposal, after being criticized by both the IMF and the U.S. government, was dropped.

This article presents the case for currency boards in the context of Indonesia. The authors argue that the popular objections to currency boards–including those offered in the preceding article as well as those used by the IMF in the case of Indonesia—are based on a number of prevalent misconceptions. Contrary to the claims of critics, currency boards can be set up even in countries lacking foreign currency reserves; they can be designed to insulate their workings from political pressure; and, through the creation of a network of international branch banks and other market mechanisms, they can function without a “political” lender of last resort.
CAPITAL MARKETS AND DEMOCRACY
Authors: Brenner Reuven
Published: April 2005

Many countries have democracy's forms, but without capitalism's content. Instituting the right to vote while keeping capital markets closed is a prescription for stagnation and preservation of the status quo. It raises hopes but does not bring prosperity. Instead, it perpetuates a powerful elite, creates the seeds for political turmoil, and thus brings democracy itself into disrepute.

Whether a democracy succeeds is said to depend on its system of checks and balances—that is, on the effectiveness of its mechanism for correcting mistaken policies. For example, extending the vote could be inimical to prosperity if there are no rules and institutions that serve to constrain government spending. Among the most important of these institutions are open and well‐functioning capital markets. In case after case, the liberalization of financial markets has been accompanied by impressive economic growth and higher standards of living—even in countries that we would not recognize as democracies. Indeed, as the example of Hong Kong suggests, the establishment of open capital markets is not only by itself a fairly reliable prescription for prosperity—but more free and democratic institutions are likely to follow as a consequence.
IMPLEMENTING ECONOMIC CAPITAL IN AN INDUSTRIAL COMPANY: THE CASE OF MICHELIN
Authors: Tierny Jacques , Smithson Charles
Published: April 2005

Economic capital (also referred to as “risk capital” or “risk‐based capital”) is the amount of capital, generally in the form of equity or equity equivalents, that is necessary to provide an adequate cushion against lower‐than‐expected operating results. Over the last two decades, the concept has taken root among banks, particularly in determining the amount of capital needed to protect against financial distress in the event of unexpectedly large credit losses.

Michelin is in the vanguard of industrial companies that are beginning to apply economic capital concepts. The company uses an option‐pricing approach that effectively allows the market to identify the level of economic capital that is expected to maximize corporate value. Michelin has also begun the process of attributing economic capital to individual business units and activities. By so doing, the company is able to use a single, company‐wide hurdle rate for all projects and business units. Thus, instead of raising the discount rate when evaluating riskier projects and businesses, management assigns them larger amounts of economic capital (and, hence, a higher charge for use of that capital).

The use of economic capital to evaluate ongoing activities and contemplated investments makes it more likely that decisions will translate into increased shareholder value. A case in point is outsourcing. As illustrated in an example analyzing the company's decision to sell but continue sourcing from a textile factory, outsourcing decisions typically reduce a firm's required amount of economic capital—and thus an analysis based on the use of economic capital provides a more realistic picture of the expected value added from such transactions.
MEASURING HEDGE EFFECTIVENESS FOR FAS 133 COMPLIANCE
Authors: Charnes John M. , Koch Paul , Berkman Henk
Published: April 2005

Financial Accounting Standard (FAS) 133 requires business entities to document their anticipation of hedge effectiveness in order to qualify for hedge accounting treatment of gains and losses from financial derivatives. In the absence of specific guidelines, the accounting industry has espoused the “80–125” rule for determining hedge effectiveness. But the authors observe that meaningful assessment of anticipated hedge effectiveness must consider two distinct aspects of a firm's hedging strategy: (1) the strength of the hedging relationship, which is determined by the choice of the hedging instrument; and (2) the position taken in the hedging instrument relative to the holdings of the hedged item. They take both aspects of hedging into consideration in developing alternative measures of hedge effectiveness and distinguishing between the potential and attained effectiveness of a particular hedge. This approach enables the user to evaluate the relative merits of alternative hedging strategies to support risk management decisions, and also to document a selected hedging strategy's anticipated effectiveness for purposes of compliance with FAS 133. While the authors endorse a fairly broad interpretation of hedge effectiveness, their approach can also be used in the narrower context of an “80–125” rule.
The Discount Rate in Emerging Markets: A Guide
Authors: Sabal Jaime
Published: April 2005

There is considerable controversy about the correct discount (or “hurdle”) rate to use when performing valuations of investments in real assets in emerging markets. The topic is particularly relevant because of the growing need to evaluate privatizations, direct private acquisitions, and greenfield investments in new productive facilities throughout the world.

This article argues that the traditional practitioners' approach of building a country risk premium into the discount rate is generally inappropriate, mainly because country risk is not the same for all projects nor is it totally systematic. Moreover, there is no reason for the discount rate to be closely related to the spread on the government bonds of the country concerned. The author also points out that, in determining the appropriate discount rate, what is important is not the segmentation of the market, but the extent to which the investor is locally or globally diversified. The article accordingly reviews a selected group of models for calculating discount rates for both segmented and integrated markets. Adjustments to the valuation procedure are also suggested for cases in which investors are not well diversified or the investment is illiquid.
Transmission Barriers for Bovine, Ovine, and Human Prions in Transgenic Mice
Authors: Scott Michael R. , Peretz David , Nguyen Hoang-Oanh B. , DeArmond Stephen J. , Prusiner Stanley B.
Published: April 2005

Transgenic (Tg) mice expressing full-length bovine prion protein (BoPrP) serially propagate bovine spongiform encephalopathy (BSE) prions without posing a transmission barrier. These mice also posed no transmission barrier for Suffolk sheep scrapie prions, suggesting that cattle may be highly susceptible to some sheep scrapie strains. Tg(BoPrP) mice were also found to be susceptible to prions from humans with variant Creutzfeldt-Jakob disease (CJD); on second passage in Tg(BoPrP) mice, the incubation times shortened by 30 to 40 days. In contrast, Tg(BoPrP) mice were not susceptible to sporadic, familial, or iatrogenic CJD prions. While the conformational stabilities of bovine-derived and Tg(BoPrP)-passaged BSE prions were similar, the stability of sheep scrapie prions was higher than that found for the BSE prions but lower if the scrapie prions were passaged in Tg(BoPrP) mice. Our findings suggest that BSE prions did not arise from a sheep scrapie strain like the one described here; rather, BSE prions may have arisen spontaneously in a cow or by passage of a scrapie strain that maintains its stability upon passage in cattle. It may be possible to distinguish BSE prions from scrapie strains in sheep by combining conformational stability studies with studies using novel Tg mice expressing a chimeric mouse-BoPrP gene. Single-amino-acid substitutions in chimeric PrP transgenes produced profound changes in incubation times that allowed us to distinguish prions causing BSE from those causing scrapie.
Characterization of a Recombinant Herpes Simplex Virus 1 Designed To Enter Cells via the IL13Rα2 Receptor of Malignant Glioma Cells
Authors: Zhou Guoying , Roizman Bernard
Published: April 2005

Malignant glioma tumor cells in situ exhibit on their surfaces the interleukin 13 (IL-13) receptor designated IL13Rα2. To target herpes simplex virus 1 to this receptor, we constructed a recombinant virus (R5111) in which the known heparan sulfate binding sites in glycoproteins B and C were deleted and IL-13 was inserted into both glycoproteins C and D. We also transduced a baby hamster kidney cell line lacking the known viral receptors (J1-1) and Vero cells with a plasmid encoding IL13Rα2. The J1-1 derivative (J-13R) cell line is susceptible to and replicates the R5111 recombinant virus but not the wild-type parent virus. We report the following. (i) Expression of IL13Rα2 was rapidly lost from the surface of transduced cells grown in culture. The loss appeared to be related to ligands present in fetal bovine serum in the medium. None of the malignant glioma cell lines cultivated in vitro and tested to date exhibited the IL13Rα2 receptor. (ii) Soluble IL-13 but not IL-4 or IL-2 blocked the replication of R5111 recombinant virus in J-13R cells. (iii) The endocytosis inhibitor PD98059 blocked the replication in J1-1 cells of a mutant lacking glycoprotein D (gD−/−) but not the replication of R5111 in the J-13R cells. We conclude that R5111 enters cells via its interaction with the IL13Rα2 receptor in a manner that cannot be differentiated from the interaction of wild-type virus with its receptors.