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In this paper we present a parsing architecture that allows processing of different mildly context-sensitive formalisms, in particular Tree-Adjoining Grammar (TAG), Multi-Component Tree-Adjoining Grammar with Tree Tuples (TT-MCTAG) and simple Range Concatenation Grammar (RCG). Furthermore, for tree-based grammars, the parser computes not only syntactic analyses but also the corresponding semantic representations.
Objective: To develop comprehensive recommendations for the treatment of the various clinical manifestations of psoriatic arthritis (PsA) based on evidence obtained from a systematic review of the literature and from consensus opinion. Methods: Formal literature reviews of treatment for the most significant discrete clinical manifestations of PsA (skin and nails, peripheral arthritis, axial disease, dactylitis and enthesitis) were performed and published by members of the Group for Research and Assessment of Psoriasis and Psoriatic Arthritis (GRAPPA). Treatment recommendations were drafted for each of the clinical manifestations by rheumatologists, dermatologists and PsA patients based on the literature reviews and consensus opinion. The level of agreement for the individual treatment recommendations among GRAPPA members was assessed with an online questionnaire. Results: Treatment recommendations were developed for peripheral arthritis, axial disease, psoriasis, nail disease, dactylitis and enthesitis in the setting of PsA. In rotal, 19 recommendations were drafted, and over 80% agreement was obtained on 16 of them. In addition, a grid that factors disease severity into each of the different disease manifestations was developed to help the clinician with treatment decisions for the individual patient from an evidenced-based perspective. Conclusions: Treatment recommendations for the cardinal physical manifestations of PsA were developed based on a literature review and consensus between rheumatologists and dermatologists. In addition, a grid was established to assist in therapeutic reasoning and decision making for individual patients. It is anticipated that periodic updates will take place using this framework as new data become available.
Treatment predictors are important tools for the management of therapy in patients with chronic hepatitis B and C virus (HBV, HCV) infection. In chronic hepatitis B, several pretreatment parameters have been identified for prediction of virologic response to interferon alfa-based antiviral therapies or treatment with polymerase inhibitors. In interferon alfa and pegylated interferon alfa-treated patients, low baseline HBV DNA concentrations, HBV genotype A (B), and high baseline ALT levels are significantly associated with treatment response. In patients treated with nucleos(t)ide analogues, low baseline HBV DNA but not viral genotype is positively associated with virologic response. During treatment the best predictor of response is HBV DNA kinetics. Early viral suppression is associated with favourable virologic response and reduced risk for subsequent resistance mutations. For the current standard treatment with pegylated interferon alfa and ribavirin in patients with chronic hepatitis C, infection with HCV genotypes 2 and 3, baseline viral load below 400,000–800,000 IU/ml, Asian and Caucasian ethnicity, younger age, low GGT levels, absence of advanced fibrosis/cirrhosis, and absence of steatosis in the liver have been identified as independent pretreatment predictors of a sustained virologic response. After initiation of treatment, initial viral decline with undetectable HCV-RNA at week 4 of therapy (RVR) is the best predictor of sustained virologic response independent of HCV genotype.
Flexibility and constraints in migration and breeding of the barnacle goose Maximising fitness means, to a large extent, optimising management of time and energy. This thesis investigates aspects of timing and resource acquisition and utilisation in the barnacle goose Branta leucopsis during spring migration and reproduction. The barnacle goose population wintering along the Wadden Sea coast, and traditionally migrating via a stopover in the Baltic to its breeding sites in northern Russia, has shown some remarkable developments, among them, a geometric growth rate since the 1950s and a notable change in the timing of departure from the wintering grounds. Furthermore, long being regarded as an obligate Arctic breeder, within the past three decades this species has successfully colonised a wide variety of habitats at temperate latitudes, thereby shortening the migratory distances considerably or refraining from migration altogether. These remarkable changes raise questions about the flexibility of migratory and reproductive schedules. What are the costs and benefits of different migration strategies? And, given the context of global change, to what extent are animals capable of adapting to rapidly changing environments? In order to answer these questions we tracked migratory geese by satellite and with the help of data loggers and, furthermore, explored possible relationships of migratory behaviour and breeding performance. Another central thesis topic represents a within-species comparison of major life-history traits in populations breeding along a large ecological gradient from arctic to temperate environments. Fieldwork was conducted in arctic Russia, Sweden and The Netherlands.
Based on the microscopic transport model UrQMD in which hadronic and string degrees of freedom are employed, the HBT parameters in the longitudinal co-moving system are investigated for charged pion and kaon, and Λ sources in heavy ion collisions (HICs) at SPS and RHIC energies. In the Cascade mode, RO and the RL at high SPS and RHIC energies do not follow the mT-scaling, however, after considering a soft equation of state with momentum dependence (SM-EoS) for formed baryons and a density-dependent Skyrme-like potential for “pre-formed” particles, the HBT radii of pions and kaons and even those of Λs with large transverse momenta follow the mT-scaling function R=3/mT fairly well.
This paper is more about presenting phenomena and questions related to the concept of transitivity in Tibeto-Burman languages that I hope will stimulate discussion, rather than presenting strong conclusions. Sections 2 and 3 present alternative analyses of transitivity and questions about transitivity in two Tibeto-Burman languages I have worked on. In Section 4 I discuss some general issues about transitivity.
A data set of annual values of area equipped for irrigation for all 236 countries in the world during the time period 1900 - 2003 was generated. The basis for this data product was information available through various online data bases and from other published materials. The complete time series were then constructed around the reported data applying six statistical methods. The methods are discussed in terms of reliability and data uncertainties. The total area equipped for irrigation in the world in 1900 was 53.2 million hectares. Irrigation was mainly practiced in all the arid regions of the globe and in paddy rice areas of South and East Asia. In some temperate countries in Western Europe irrigation was practiced widely on pastures and meadows. The time series suggest a modest rate of increase of irrigated areas in the first half of the 20th century followed by a more dynamic development in the second half. The turn of the century is characterized by an overall consolidating trend resulting at a total of 285.8 million hectares in 2003. The major contributing countries have changed little throughout the century. This data product is regarded as a preliminary result toward an ongoing effort to develop a detailed data set and map of areas equipped for irrigation in the world over the 20th century using sub-national statistics and historical irrigation maps.
The relation between reality and language, the instability of language as a signification system, the representation crisis, and the borders of interpretation are the controversial issues that have engaged not only philosophers, but also many authors, translators, and literary critics. Some philosophers like Derrida accuse Western thinking of being obsessed with binary oppositions. In Derrida's view, Western tradition resorts to external references as God, truth, origin, center and reason to stabilize the signification system. Since these concepts lack an internal sense and there is no transcendental signified that can fix these signifiers, language turns to an instable system by means of which no fixed meaning can be created. Many authors like Beckett, Stoppard, and Caryl Churchill also noticed this impossibility of language. While Derrida's deconstructive approach to this crisis has an epistemological nature, these playwrights present an aesthetic solution by turning the deconstructive potential of language against itself in text and performance. This dissertation aims at exploring their performing methods and dramatic texts to demonstrate how their delogocentric strategies work. By analyzing their plays, I will examine if their use of signifiers that have no references in reality, intentional misconceptions, disintegrated subjectivities, decentered narratives, and experimental performances can help them undermine the prevailing logocentrism of Western thought. The examination of the change in aesthetic strategies from Beckett, who belongs to earlier stages of post modernism, to Caryl Churchill, who should perform in a globalized world with increasing dominance of speed and information, is another aim of this research. In my view,Beckett's obsession with unspeakable, absurdity, and disintegration of subjectivity develops to Stoppard's language games, metadrama, and anti-representation and culminates in Churchill's anti-narrative texts and pluralistic performances. The monophony of Beckett's dramatic texts is replaced by the polyphony of Churchill's performances, which are a mixture of theater, dance and music. However, all explored dramatic texts in this dissertation have something in common: they are language games, which have no claim on a faithful representation of reality or transcendental truth.
Buli is an Oti-Volta tone language spoken in Northern Ghana. This paper outlines the basic features of its tonal system and explores whether and in which way pitch respectively phonemic tone is approached as a means to indicate the pragmatic category of focus. Pursued are cases with focus-related surface tone changes as well as cases where pitch could help to disambiguate between broad and narrow foci. It is argued that focus is not consistently encoded by pitch or tone. Parallel findings for the closely related languages Kopen o (phonetic symbol)nni and Dagbani suggest that the apparent lack of significant prosodic focus signals in Buli might pertain to a larger group of tonal languages of the Gur family.
Plastids are complex plant organelles fulfilling essential physiological functions, such as photosynthesis and amino acid metabolism. The majority of proteins required for these functions are encoded in the nuclear genome and synthesized on cytosolic ribosomes as precursors, which are subsequently translocated across the outer and inner membrane of the organelle. Their targeting to the organelle is ensured by a so called transit peptide, which is specifically recognized by GTP-dependent receptors Toc159 and Toc34 at the cytosolic side of outer envelope. They cooperatively regulate the insertion of the precursor protein into the channel protein Toc75, thereby initiating the translocation process. Toc34 is regarded as the primary receptor, while Toc159 probably provides the driving force for the insertion. Precursor transfer is achieved by the physical interaction between both receptors in the GTP loaded state. One translocon unit, also called the Toc core complex, is formed by four molecules Toc34, four molecules Toc75 and one molecule Toc159. In the GDP-loaded state, Toc34 preferably forms homodimers, whose physiological function was investigated in the presented study. It could be shown that the dissociation of GDP and therefore the nucleotide exchange are inhibited by the homodimeric state of Toc34. Dissociation of the homodimer is induced by the recognition of a precursor protein, which renders the binding of GTP and subsequent interaction with Toc159 possible. Thus, the homodimeric conformation could reflect an inactive state of the translocon, preventing GTP consumption in the absence of a precursor protein. Both homodimerization as well as heterodimerization of the receptor are regulated by phosphorylation, which could be demonstrated by in vitro and in vivo approaches using atToc33 from Arabidopsis thaliana as a model system. Since the phosphorylated form of Toc34 cannot be assembled with the Toc core complex, it can be concluded that the interactions between GTPase domains not only regulate the transfer of precursor proteins, but also warrant the integrity of the translocon.
This talk concerns the copula system in Buli, a Ghanaian language which has also been attested in Bahia (Rodrigues 1935, Zwernemann 1968). Special focus will be put on the categorization of two copula-reminiscent elements for which I will propose a discoursepragmatic analysis.
Titabet and the Takumbeng
(2008)
Titabet and the Takumbeng is a play that relives the unprecedented political upheaval of the 1992 first ever multiparty presidential elections in Cameroon. Following the controversial elections, Bamenda - the stronghold of the main opposition party, the Social Democratic Front (SDF) - was plunged into a tense and intense civil disobedience campaign. The violence which ensued pitted SDF militants who claimed their victory was stolen against regime loyalists. The government reacted by imposing a curfew on Bamenda. The army that was dispatched to keep the peace committed ferocious kidnapping, rape, theft and torture, driving women, children and men into the arms of terror. Titabet the protagonist emerges as the leader of the oppressed. He and the sacred women's cult of Takumbeng were the only hope for the people. The sacred cleansing cult and Titabet's courageous resistance apparently brought an end to what would have been too devastating a tale to narrate. Kehbuma Langmia teaches courses in Mass Communications, Broadcast Journalism and Media Studies at Bowie State University. With previous degrees in fine arts, television and film, he earned his PhD in Mass Communication and Media Studies from Howard University. He also has an MA degree in theatre arts from the University of Yaound?, Cameroon. He is also a graduate from the Television Academy in Munich, Germany. Dr. Langmia writes, produces and directs independent productions, and serves as executive producer for students' television projects at Bowie State University.
Three-dimensional structure of the glycine-betaine transporter BetP by cryo electron crystallography
(2008)
The soil bacterium Corynebacterium glutamicum has five secondary transporters for compatible solutes allowing it to cope with osmotic stress. The most abundant of them, the transporter BetP, performs a high affinity uptake of glycine-betain when encountering hyperosmotic stress. BetP belongs to the betaine/carnitine/choline/transporter (BCCT) family, and is predicted to have twelve transmembrane helices with both termini facing the cytoplasm. The goal of this thesis is to facilitate understanding of BetP function by determining a three dimensional (3D) model of its structure. Two-dimensional (2D) crystallization of wild-type (WT) BetP has been successfully performed by reconstitution into a mixture of E. coli lipids and bovine cardiolipin, which resulted in vesicular crystals diffracting to 7.5 Å resolution (Ziegler, Morbach et al. 2004). Diffraction patterns of these crystals however showed unfocused spots, generally due to high mosaicity. Better results were obtained by using the constitutively active mutant BetPdeltaC45 in which the first 45 amino acids of the positively charged C-terminus were removed. BetPdeltaC45 crystals obtained under the same conditions for BetP WT were concluded to be pseudo crystals, based on the inconsistence of symmetry. These crystals had BetPdeltaC45 molecules randomly up/downwards inserted into membrane crystals, and cannot be used for structure determination, even though they diffracted up to 7 Å. The problem of pseudo crystal formation could be solved by changing the lipids used for 2D crystallization to a native lipid extract from C. glutamicum cells. This change of lipids improved the crystals to well-ordered packing with exclusive p121_b symmetry. To understand the role of lipids in crystal packing and order, lipids were extracted at different stages during crystallization, and identified by using multiple precursor ion scanning mass spectrometry. The results show that phosphatidyl glycerol (PG) 16:0-18:1 is the most dominant lipid species in C. glutamicum membranes, and that BetP has a preference for the fatty acid moieties 16:0-18:1. Crystallization with synthetic PG 16:0-18:1 proved that an excess of this lipid prevents pseudo crystal formation, but these crystals did not reach the quality as previously achieved by using the C. glutamicum lipids. Apart from the effect of lipids in crystallinity, the concentration and type of salts influenced crystal growth and morphology. High salt conditions (>400 mM LiCl or KCl) yielded tubular crystals, whereas low salt conditions (<300 mM LiCl, NaCl or KCl) led to formation of up to 10 µm large sheet-like crystals. The intermediate concentration gave a mixture of sheet-like and tubular crystals. In terms of resolution, sheets diffracted better than tubes. The sheet-like crystals used for 3D map reconstruction were obtained from a dialysis buffer containing 200 mM NaCl combined with using C. glutamicum lipids. Electron microscopic images were taken from frozen-hydrated crystals using a helium-cooled JEOL 300 SFF microscope or a liquid nitrogen-cooled FEI Tecnai G2 microscope at 300 kV, which allowed optimal data collection and minimized radiation damage to the sample. More than 1000 images of tilt angles up to 50° were taken and evaluated using optical diffraction of a laser beam. The best 200 images were processed with the MRC image processing software package, and 79 images from different tilt angles were merged to the final data set used for calculation of a 3D map at a planar resolution of 8 Å. The structure shows BetPdeltaC45 as a trimer with each monomer consisting of 12 transmembrane alpha-helices. Protein termini and loop regions could not be determined due to the limited resolution of the map. Six of the twelve helices line a central cavity forming a potential substrate-binding chamber. Each monomer shows a central cavity in different sizes and shapes. Thus, the constitutively active BetPdeltaC45 thus forms an unusual asymmetric homotrimer. BetP most likely reflects three different conformational states of secondary transporters: the cytoplasmically open (C), the occluded (O), and the periplasmically open (P) states. The C and O states are similar to BetP WT projection structure, while the P state is discrepant and highly flexible due to the shape and size of the central cavity as well as the lowest intensity of the density. The observation of the P state corresponds well to the constitutively active property of BetPdeltaC45. For the high resolution structure of the C and O states are available, this work presents the first structural information of the P state of a secondary transporter.
In this proceeding the emergence of a composite, adjoint-scalar field as an average over (trivial holonomy) calorons and anti-calorons is reviewed. This composite field acts as a background field to the dynamics of perturbative gluons, to which it is coupled via an effective, gauge invariant Lagrangian valid for temperatures above the deconfinement phase transition. Moreover a Higgs mechanism is induced by the composite field: two gluons acquire a quasi-particle thermal mass. On the phenomenological side the composite field acts as a bag pressure which shows a linear dependence on the temperature. As a result the linear rise with temperature of the trace anomaly is obtained and is compared to recent lattice studies.
In the field of strongly correlated electron systems, there is a long standing discussion on whether lattice degrees of freedom play a role for several physical phenomena, among them the Mott MI transition and charge-ordering transition. Charge-transfer salts of the ..-(BEDT-TTF)2X and (TMTCF)2X families have been revealed as model systemss for the study of the latter phenomena. The (TMTCF)2X salts have been recognized as model systems for studying correlation effects in 1D, while the (BEDT-TTF)-based materials for such studies in 2D. In this work, high-resolution dilatometry experiments were performed in order to address these issues. The main results obtained are summarized below. ...
Reform of the securities class action is once again the subject of national debate. The impetus for this debate is the reports of three different groups – The Committee on Capital Market Regulation, The Commission on the Regulation of U.S. Capital Markets In the 21st Century, and McKinsey & Company. Each of the reports focuses on a single theme: how the contemporary regulatory culture places U.S. capital markets at a competitive disadvantage to foreign markets. While multiple regulatory forces are targeted by each report’s call for reform, each of the reports singles out securities class actions as one of the prime villains that place U.S. capital markets at a competitive disadvantage. The reports’ recommendations range from insignificant changes to drastic curtailments of private class actions. Surprisingly, these current-day cries echo calls for reform heeded by Congress in the not too distant past. Major reform of the securities class action occurred with the Private Securities Litigation Reform Act of 1995.5 Among the PSLRA’s contributions is the introduction of procedures by which the court chooses from among competing petitioners a lead plaintiff for the class. The statute commands that the petitioner with the largest financial loss suffered as a consequence of the defendant’s alleged misrepresentation is presumed to be the most adequate plaintiff. Thus, the lead plaintiff provision supplants the traditional “first to file” rule for selecting the suit’s plaintiff with a mechanism that seeks to harness to the plaintiff’s economic self interest to the suits’ prosecution. Also, by eliminating the race to be the first to file, the lead plaintiff provision seeks to avoid “hair trigger” filings by overly eager plaintiffs’ counsel which Congress believed too frequently gave rise to incomplete and insubstantially pled causes of action. The PSLRA also introduced for securities class actions a heightened pleading requirement8 as well as a bar to the plaintiff obtaining any discovery prior to the district court disposing of the defendants’ motions to dismiss. By introducing the requirement that allegations involving fraud must be plead not only with particularity, but also that the pled facts must establish a “strong inference” of fraud, the PSLRA cast aside, albeit only for securities actions, the much lower notice pleading requirement that has been a fixture of American civil procedure for decades. Substantive changes to the law were also introduced by the PSLRA. With few exceptions, joint and several liability was replaced by proportionate liability so that a particular defendant’s liability is capped by that defendant’s relative degree of fault. Similarly, contribution rights among co-violators are also based on proportionate fault of each defendant. Three years after the PSLRA, Congress returned to the topic again by enacting the Securities Litigation Uniform Standards Act;13 this provision was prompted by aggressive efforts of plaintiff lawyers to bypass the limitations, most notably the bar to discovery and higher pleading requirement, of the PSLRA by bringing suit in state court. Post-SLUSA, securities fraud class actions are exclusively the domain of the federal court. In this paper, we examine the impact of the PSLRA and more particularly the impact the type of lead plaintiff on the size of settlements in securities fraud class actions. We thus provide insight into whether the type of plaintiff that heads the class action impacts the overall outcome of the case. Furthermore, we explore possible indicia that may explain why some suits settle for extremely small sums – small relative to the “provable losses” suffered by the class, small relative to the asset size of the defendantcompany, and small relative to other settlements in our sample. This evidence bears heavily on the debate over “strike suits.” Part I of this paper sets forth the contemporary debate surrounding the need for further reforms of securities class actions. In this section, we set forth the insights advanced in three prominent reports focused on the competitiveness of U.S. capital markets. In Part II we first provide descriptive statistics of our extensive data set, and thenuse multivariate regression analysis to explore the underlying relationships. In Part III, we closely examine small settlements for clues to whether they reflect evidence of strike suits. We conclude in Part IV with a set of policy recommendations based on our analysis of the data. Our goals in this paper are more modest than the Committee Report, the Chamber Report and the McKinsey Report, each of which called for wide-ranging reforms: we focus on how the PSLRA changed securities fraud settlements so as to determine whether the reforms it introduced accomplished at least some of the Act’s important goals. If the PSLRA was successful, and we think it was, then one must be somewhat skeptical of the need for further cutbacks in private securities class action so soon after the Act was passed.
Their Champagne Party Will End! Poems in Honor of Bate Besong : Poems in Honor of Bate Besong
(2008)
In our present-day landscape in Central Europe major parts of the xylobiontic especially of the saproxylic beetle fauna belong to the group of endangered species assemblages (Speight 1989, Geiser 1994). Oaks, in Central Europe mainly Quercus robur and Q. petraea, are well known for their large number of associated insect species and harbour the highest beetle diversity, especially for dead wood inhabiting species, of all broadleaved tree species in this region (e.g. Palm 1959). A characteristic species associated with oaks in its life-cycle is the endangered Great Capricorn Cerambyx cerdo. C. cerdo is one of the protected species explicitly named in the Habitats Directive of the European Union with the goal of maintaining existing populations and establishing long-term survival (Council of the European Communities 1992). The last remaining colonised areas of this longhorn beetle in Central Europe are well known for the enormous number of very rare xylobiontic beetle species. Thus, we are interested in the following research questions: 1) Are there typical species associated with C. cerdo? 2) If so, what kind of relationship do these associated species have to C. cerdo from a nature conservation point of view?
A collection of six thought-provoking stories, four of which were award-winning-stories at the 1990 literary contest of the national Association of Cameroonian Poets and Writers (APEC). The stories are set in different localities in Africa and Cameroon in particular. The author in a lucid manner explores the theme of women lib- the African way in the lead story. Ebenye, the protagonist, representing the sharp-witted African woman cannot understand why she should cook food without tasting of it. So she decides to take the bold step of eating a piece of the python that she has been ordered to cook for the men of her community. The other stories tackle themes of corruption, poverty, alcoholism, endurance, love and more.
The study investigates the contribution of tactile and auditory feedback in the adaptation of /s/ towards a palatal prosthesis. Five speakers were recorded via electromagnetic articulography, at first without the prosthesis, then with the prosthesis and auditory feedback masked, and finally with the prosthesis and auditory feedback available. Tongue position, jaw position and acoustic centre of gravity of productions of the sound were measured. The results show that the initial adaptation attempts without auditory feedback are dependent on the prosthesis type and directed towards reaching the original tongue palate contact pattern. Speakers with a prosthesis which retracted the alveolar ridge retracted the tongue. Speakers with a prosthesis which did not change the place of the alveolar ridge did not retract the tongue. All speakers lowered the jaw. In a second adaptation step with auditory feedback available speakers reorganised tongue and jaw movements in order to produce more subtle acoustic characteristics of the sound such as the high amplitude noise which is typical for sibilants.
The Travail of Dieudonné
(2008)
Dieudonnes life is spun from the threads of one of Africa's grand moral dilemmas, in which personal responsibility is intertwined with the social catharsis occasioned by ambitions of dominance and ever diminishing circles. We encounter Dieudonne at the tail end of his service as 'houseboy' to the Toubaabys, a patronising expatriate couple. In the company of a lively assortment of characters and luring music at the Grand Canari Bar, Dieudonne recounts his life. As he peels layer after layer of his vicissitudes, he depicts the everyday resilience of the African on a continent caught in the web of predatory forces. Yet, this enchanting failure also celebrates the infinite capacity of the African to find happiness and challenge victimhood.
The Tragedy of Mr No Balance
(2008)
The timing of feedback to early visual cortex in the perception of long-range apparent motion
(2008)
When 2 visual stimuli are presented one after another in different locations, they are often perceived as one, but moving object. Feedback from area human motion complex hMT/V5+ to V1 has been hypothesized to play an important role in this illusory perception of motion. We measured event-related responses to illusory motion stimuli of varying apparent motion (AM) content and retinal location using Electroencephalography. Detectable cortical stimulus processing started around 60-ms poststimulus in area V1. This component was insensitive to AM content and sequential stimulus presentation. Sensitivity to AM content was observed starting around 90 ms post the second stimulus of a sequence and most likely originated in area hMT/V5+. This AM sensitive response was insensitive to retinal stimulus position. The stimulus sequence related response started to be sensitive to retinal stimulus position at a longer latency of 110 ms. We interpret our findings as evidence for feedback from area hMT/V5+ or a related motion processing area to early visual cortices (V1, V2, V3).
Freeze (1992) argued on the basis of data from several different languages that there is a close relationship between existential sentences (stating the existence of an entity) and locative sentences (stating the location of an entity). Freeze (1992) proposes that they are both derived from the same base structure and that the surface differences are rather due to the distinct information structures.This paper argues against this position with the data from Serbian existentials, which show clear syntactic differences from the locatives. Thus, the close relationship between existential and locative sentences that Freeze (1992) observes is conceptual, but not (necessarily) part of the syntax of the language. In order to account for the data, we propose that existential sentences originate from a different syntactic predication structure than the locative ones. The existential meaning arises, as we will show, from the interaction of this predication structure with the structure and meaning of the noun phrase.
Type I interferons (IFNs) signal for their diverse biological effects by binding a common receptor on target cells, composed of the two transmembrane IFNAR1 and IFNAR2 proteins. We have previously differentially enhanced the antiproliferative activity of IFN by increasing the weak binding affinity of IFN to IFNAR1. In this study, we further explored the affinity interdependencies between the two receptor subunits and the role of IFNAR1 in differential IFN activity. For this purpose, we generated a panel of mutations targeting the IFNAR2 binding site on the background of the IFNalpha2 YNS mutant, which increases the affinity to IFNAR1 by 60-fold, resulting in IFNAR2-to-IFNAR1 binding affinity ratios ranging from 1000:1 to 1:1000. Both the antiproliferative and antiviral potencies of the interferon mutants clearly correlated to the in situ binding IC(50) values, independently of the relative contributions of the individual receptors, thus relating to the integral lifetime of the complex. However, the antiproliferative potency correlated throughout the entire range of affinities, as well as with prolonged IFNAR1 receptor down-regulation, whereas the antiviral potency reached a maximum at binding affinities equivalent to that of wild-type IFNalpha2. Our data suggest that (i) the specific activity of interferon is related to the ternary complex binding affinity and not to affinity toward individual receptor components and (ii) although the antiviral pathway is strongly dependent on pSTAT1 activity, the cytostatic effect requires additional mechanisms that may involve IFNAR1 down-regulation. This differential interferon response is ultimately mediated through distinct gene expression profiling.
The degradation of the poly(A) tail is crucial for posttranscriptional gene regulation and for quality control of mRNA. Poly(A)-specific ribonuclease (PARN) is one of the major mammalian 3’ specific exo-ribonucleases involved in the degradation of the mRNA poly(A) tail, and it is also involved in the regulation of translation in early embryonic development. The interaction between PARN and the m7GpppG cap of mRNA plays a key role in stimulating the rate of deadenylation. Here we report the solution structures of the cap-binding domain of mouse PARN with and without the m7GpppG cap analog. The structure of the cap-binding domain adopts the RNA recognition motif (RRM) with a characteristic a-helical extension at its C-terminus, which covers the b-sheet surface (hereafter referred to as PARN RRM). In the complex structure of PARN RRM with the cap analog, the base of the N7-methyl guanosine (m7G) of the cap analog stacks with the solvent-exposed aromatic side chain of the distinctive tryptophan residue 468, located at the C-terminal end of the second b-strand. These unique structural features in PARN RRM reveal a novel cap-binding mode, which is distinct from the nucleotide recognition mode of the canonical RRM domains.
Sexual deception of male bees is one of the most remarkable mechanisms of pollination (Ackermann 1986, Proctor & al. 1996). Flowers of the orchid genus Ophrys mimic females of their pollinator species, usually bees and wasps, to attract males, which try to copulate with the flowers. During this so-called “pseudocopulation” the male removes the pollinia and transfers them to another flower to ensure pollination. Apart from visual and tactile cues, floral scent was shown to be most important for eliciting mating behaviour in males (Kullenberg 1961, Schiestl & al. 1999, Ayasse & al. 2003). Pollination in Ophrys is highly specific and usually each Ophrys species attracts only one pollinator species (Paulus & Gack 1990). The high degree of specialization provides the means of reproductive isolation between the intercrossable Ophrys-species (Ehrendorfer 1980). The complex odour-bouquets released by the flowers are species-specific and often consist of more than 100 different chemical compounds (Borg-Karlson & al. 1985, Ayasse 2006). Speciation in Ophrys-orchids may be brought about by changes in the pollinator attracting floral scent. The attraction of a new pollinator may act as a pre-zygotic isolation barrier (Stebbins 1970, Paulus & Gack 1990, Soliva & al. 2001). We investigated three sympatrically occuring Ophrys-species on Sardinia. O. chestermanii and O. normanii are endemic and are both pollinated by males of the bumblebee B. vestalis. O. tenthredinifera is pollinated by Eucera nigrilabris. There are different opinions concerning the taxonomic status of O. normanii. It has been described as an actual hybrid between O. chestermanii and O. tenthredinifera (Wood 1983). Paulus & Gack (1995) suggested that it is an own species, that either has developed from a hybrid between O. chestermanii and O. normanii or that has evolved by radiation from O. tenthredinifera. By conducting behavioural-tests with B. vestalis males, performing gas chromatographic analyses and electrophysiological studies we wanted to identify pollinator attracting scent and to clarify the taxonomic status of O. normanii.
Dicer and Drosha are the major enzymes involved in microRNA processing. Using siRNA targeting Dicer and Drosha, thereby downregulating a substantial number of microRNAs in EC, we demonstrate a crucial role of both enzymes in angiogenic processes. Interestingly, Dicer inhibition exerts more profound effects on processes like migration and viability of EC in comparison to Drosha inhibition. Moreover, Dicer effects in vivo angiogenesis, a process which is unaffected by Drosha. This discrepancy might be partially due to the involvement of Dicer in other cellular processes like heterochromatin formation and to the fact that Dicer and Drosha target mainly different subsets of microRNAs. In addition, we identified miR-92a as a novel endogenous repressor of the angiogenic program in EC, which impairs their angiogenic functions in vitro and in vivo. Consistent with these data, blocking miR-92a by systemic infusion of antagomirs enhances neovascularization and functional recovery after ischemia in vivo. At first sight, the anti-angiogenic function of miR-92a in EC appears to contradict the previously identified anti-apoptotic and pro-angiogenic activities of the miR-17~92 cluster in tumor cells. However, this apparent discrepancy might be well rationalized by a predominant function of miR-18a and miR-19a in tumor cells, which are responsible for the tumorigenic and non-cell autonomous pro-angiogenic functions of the miR-17~92 cluster. Instead, miR-92a expression is specifically upregulated in ischemic tissues and appears to cell-autonomously repress the angiogenic potential of EC. Among the various targets and verified regulated genes identified by microarray, we confirmed the downregulation of Integrin a5 in vitro and in vivo. The relevance of this miR-92a target is evidenced by severe vascular defects in the absence of Integrin a5. In addition, endothelial miR-92a interferes with the expression pattern of genes controlling key EC functions at various levels, some of which, e.g. eNOS, might be secondarily affected by directly targeted genes. Obviously, our data do not formally exclude effects of antagomir-92a on perivascular and other cell types, but surely include effects on EC. Regardless of this, the capacity of miR-92a to target various downstream effectors might be an advantage of miRNA-based therapeutic strategies and may overcome the limited therapeutic capacity of single growth factor or single gene therapies in ischemic diseases, since the highly organized process of vessel growth, maturation and functional maintenance is well known to require the fine-tuned regulation of a set of genes.
Objectives To examine the dose-response relationship between cumulative exposure to kneeling and squatting as well as to lifting and carrying of loads and symptomatic knee osteoarthritis (OA) in a population-based case-control study. Methods In five orthopedic clinics and five practices we recruited 295 male patients aged 25 to 70 with radiographically confirmed knee osteoarthritis associated with chronic complaints. A total of 327 male control subjects were recruited. Data were gathered in a structured personal interview. To calculate cumulative exposure, the self-reported duration of kneeling and squatting as well as the duration of lifting and carrying of loads were summed up over the entire working life. Results The results of our study support a dose-response relationship between kneeling/squatting and symptomatic knee osteoarthritis. For a cumulative exposure to kneeling and squatting > 10.800 hours, the risk of having radiographically confirmed knee osteoarthritis as measured by the odds ratio (adjusted for age, region, weight, jogging/athletics, and lifting or carrying of loads) is 2.4 (95% CI 1.1-5.0) compared to unexposed subjects. Lifting and carrying of loads is significantly associated with knee osteoarthritis independent of kneeling or similar activities. Conclusions As the knee osteoarthritis risk is strongly elevated in occupations that involve both kneeling/squatting and heavy lifting/carrying, preventive efforts should particularly focus on these "high-risk occupations".
Rezension von: Rainer Forst (2007) Das Recht auf Rechtfertigung. Elemente einer konstruktivistischer Theorie der Gerechtigkeit. Frankfurt am Main: Suhrkamp, 413 pp.
The unfolding discussion will focus on the internal representation of turbulent sounds in the phonology of German as well as pinpoint the special status of the prime defining the quality of turbulence. It will also be argued that this prime is capable of entering into special types of licensing relations, which results in specific phonetic manifestations of forms. We shall compare the effects of two processes attested in German: consonant degemination and spirantisation with a view to revealing the role of the turbulence-defining element in the two operations. Furthermore, our attention will be focused on the workings of the Obligatory Contour Principle which, as will be shown below, exerts decisive impact on prime interplay and consequently the phonetic realization of sounds and words. We shall see that segmental identity is contingent on the languagespecific interpretation of inter-element bonds.
Aware of the importance of prime autonomy in determining the manifestation of sounds, let us start with a brief outline of the fundamental segment structure principles offered by the theory of Phonological Government.
In this study I analysed past and recent Daphnia populations from Lake Constance and Greifensee. Herefore, I first established a set of microsatellite markers applicable to European Hyalodaphnia species (chapter 1). Primers were also identified for species specific fragment lengths. 32 markers were then available to characterize the resting egg banks of Daphnia galeata and D. hyalina. Chapter 2 presents the reconstruction of the taxonomic composition in these two ecologically different lakes. This part of my work shows that the eutrophication that occurred in both lakes in the mid of the last century has strongly influenced the Daphnia populations. In both lakes Daphnia galeata established and hybridized with the indigenous D. hyalina. Interspecific hybridization resulted in introgression on the mitochondrial and nuclear level. In chapter 3 resting eggs from the sediments of the 1960s, 1970s, 1980s, 1990s and 2000s were characterized with microsatellite markers. The aim was to specify the extent of interspecific hybridization and nuclear introgression assuming that the genetic exchange between both species has an impact on their adaptation to their habitat. In life history experiments D. galeata and D. galeata x hyalina clones hatched from different time periods showed significant differential responses to food quality. Therefore, the question had to be answered how the Daphnia resting egg bank and the planktonic population are connected. In chapter 4 hatching experiments were conducted to bridge this gap of scientific knowledge in the life cycle of cyclic parthenogenetic waterfleas. Only D. galeata individuals were able to establish a clonal lineage after maturity. All observed recombinant individuals did not reproduce at all or firstly went through another sexual phase of reproduction i.e. produced resting eggs. In order to compare the findings of chapter 4 with the taxon composition of the recent planktonic population of Daphnia in Lake Constance, samples were taken over one season (between May 2005 and September 2006). During the season, the taxonomic composition of Daphnia changes severely with D. galeata being most abundant during the warm season and D. hyalina in the cold season. Moreover, some individuals were detected, that did not follow this pattern. With mitochondrial analysis those individuals were identified as mitochondrial introgressants and processed to life history experiments. Significant differences in the somatic growth rate under different temperatures (5°C, 12.5°C and 20°C) were related to the origin of the mitochondrial genome rather than the nuclear taxonomic assignment of the individual.
The findings of this study show that all organisms exposed to rapid ecological changes and their microevolutionary reaction to those.
The reaction of consumer spending and debt to tax rebates – evidence from consumer credit data
(2008)
We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on average, consumers initially saved some of the rebate, by increasing their credit card payments and thereby paying down debt. But soon afterwards their spending increased, counter to the canonical Permanent-Income model. Spending rose most for consumers who were initially most likely to be liquidity constrained, whereas debt declined most (so saving rose most) for unconstrained consumers. More generally, the results suggest that there can be important dynamics in consumers’ response to “lumpy” increases in income like tax rebates, working in part through balance sheet (liquidity) mechanisms.
The Raped Amulet
(2008)
An extraordinary story of a young man from Africa who tries hard to reconcile the ways he had grown up with, and those he was experiencing in his host country - Great Britain. The story is set in Coventry, in the English Midlands and is told by Dion Ekpochaba, a postgraduate student at the University of Warwick. Dion, fresh from his motherland, Cameroon, loses an amulet, a cherished heritage of his ancestry and becomes desperate about the loss. He meets an elderly English man, Tom Jones who makes a startling revelation: the amulet had just been desecrated by his dog and thrown into the depths of a lake in the campus. Dion became so flabbergasted that Tom Jones thought he might have gone out of his mind. The two strangers tried to understand each other to no avail. However, the misfortunes of time turn the tides, resulting in a friendship, which provides grounds for mutual understanding and respect for each other's ways. Read on and spark your views on making the world a better place.
Poster presentation: Purpose of the study The aim of the Rainbow Cohort is to assess the tolerability and efficacy of initiating treatment with, or switching treatment to saquinavir (SQV) 500 mg film-coated tablet formulation. We present the final 48-week subgroup analysis of antiretroviral therapy (ART)-naïve patients. ...
The "quiet life hypothesis (QLH)" posits that banks enjoy the advantages of market power in terms of foregone revenues or cost savings. We suggest a unified approach to measure competition and efficiency simultaneously to test this hypothesis. We estimate bank-specific Lerner indices as measures of competition and test if cost and profit efficiency are negatively related to market power in the case of German savings banks.We find that both market power and average revenues declined among these banks between 1996 and 2006. While we find clear evidence supporting the QLH, estimated effects of the QLH are small from an economical perspective.
Central counterparties (CCPs) have increasingly become a cornerstone of financial markets infrastructure. We present a model where trades are time-critical, liquidity is limited and there is limited enforcement of trades. We show a CCP novating trades implements efficient trading behaviour. It is optimal for the CCP to face default losses to achieve the efficient level of trade. To cover these losses, the CCP optimally uses margin calls, and, as the default problem becomes more severe, also requires default funds and then imposes position limits.
The book examines the creative industries of Cameroon and Africa and makes bold the cultural triumphant assertion that Africa is home to some of the most diverse cultural patrimony and the most versatile creative professionals. It also discusses indigenous development models and questions the rationale for Eurocentric democratic paradigms which have partly contributed to the demise of a concrete democratic development entitlement in most African countries. Ngwane weaves both the cultural and political strands into a search for a homegrown development web which he calls 'glocalisation'. Ngwane's essays, most of which have animated debate and discourse in national newspapers, online blogs and International journals are lucid in their arguments, poignant in their ideological focus, rich in their non-fiction craftsmanship and urgent in their message delivery. The essays will make good reading for students of Africa studies, Development studies, Politics and Culture.
Cantharidin, which is mainly found in blister beetles (Coleoptera: Meloidae), is one of the most intensively studied natural products of insect (Dettner, 1997; McCormick & Carrel, 1987). The involvement of cantharidin in courtship behaviour has been already confirmed for certain canthariphilous insects (Eisner & al. 1996a,b; Frenzel & Dettner 1994; Frenzel & al. 1992; Schütz & Dettner, 1992; Hemp & al. 1999). The function and intrinsinc role of cantharidin in the courtship behaviour of Meloids has been never fully established. McCormick & Carrel (1987) only suggested that cantharidin might be used by female meloids when selecting a mate at close range. Pinto (1974, 1975) was, in fact, the first to consider male cuticular pores as being involved in the courtship behaviour of species from the genus Linsleya and Tegrodera (Meloidae). Based on morphology and chemical analyses of Cyaneolytta sp. (Coleoptera: Meloidae), we have hereby provided some further evidences that cantharidin may act as an infochemical in courtship behaviour of meloid beetles.
We performed a bioinformatical analysis of protein export elements (PEXEL) in the putative proteome of the malaria parasite Plasmodium falciparum. A protein family-specific conservation of physicochemical residue profiles was found for PEXEL-flanking sequence regions. We demonstrate that the family members can be clustered based on the flanking regions only and display characteristic hydrophobicity patterns. This raises the possibility that the flanking regions may contain additional information for a family-specific role of PEXEL. We further show that signal peptide cleavage results in a positional alignment of PEXEL from both proteins with, and without, a signal peptide.
The dynamics of many systems are described by ordinary differential equations (ODE). Solving ODEs with standard methods (i.e. numerical integration) needs a high amount of computing time but only a small amount of storage memory. For some applications, e.g. short time weather forecast or real time robot control, long computation times are prohibitive. Is there a method which uses less computing time (but has drawbacks in other aspects, e.g. memory), so that the computation of ODEs gets faster? We will try to discuss this question for the assumption that the alternative computation method is a neural network which was trained on ODE dynamics and compare both methods using the same approximation error. This comparison is done with two different errors. First, we use the standard error that measures the difference between the approximation and the solution of the ODE which is hard to characterize. But in many cases, as for physics engines used in computer games, the shape of the approximation curve is important and not the exact values of the approximation. Therefore, we introduce a subjective error based on the Total Least Square Error (TLSE) which gives more consistent results. For the final performance comparison, we calculate the optimal resource usage for the neural network and evaluate it depending on the resolution of the interpolation points and the inter-point distance. Our conclusion gives a method to evaluate where neural nets are advantageous over numerical ODE integration and where this is not the case. Index Terms—ODE, neural nets, Euler method, approximation complexity, storage optimization.
Taxonomic, systematic, and biogeography knowledge on the Palaearctic species of Pristaulacus Kieffer 1900 is summarized. Twenty-one valid species are recognized. The most important morphological characters taken into consideration are: shape, cuticular sculpture, and pubescence of head; index length/width of antennomeres; shape, sculpture and cuticular processes of mesosoma, especially of pronotum and mesonotum; number and shape of teeth on claw; shape and sculpture of metasoma; ovipositor length compared with wing and antenna length; and colour pattern (e.g., the dark spots on fore wing, and the colour of hind tarsus). Several characters of the genital capsule of the male were proved to be very useful for species identification, e.g., the shape of the paramere, volsella, cuspis, and digitus. Based on analysis of twenty-five morphological characters, eight species groups are recognized. The critical revision of the chorological data, including many new records, introduced relevant changes of the geographical distribution pattern of most species. Twelve species are restricted to the western part of the Palaearctic Region and eight species are restricted to its eastern part; only one species, P. gibbator, has a wider distribution, including both western and eastern parts of the Palaearctics.
The ACL 2008 Workshop on Parsing German features a shared task on parsing German. The goal of the shared task was to find reasons for the radically different behavior of parsers on the different treebanks and between constituent and dependency representations. In this paper, we describe the task and the data sets. In addition, we provide an overview of the test results and a first analysis.
Dendrite morphology, a neuron's anatomical fingerprint, is a neuroscientist's asset in unveiling organizational principles in the brain. However, the genetic program encoding the morphological identity of a single dendrite remains a mystery. In order to obtain a formal understanding of dendritic branching, we studied distributions of morphological parameters in a group of four individually identifiable neurons of the fly visual system. We found that parameters relating to the branching topology were similar throughout all cells. Only parameters relating to the area covered by the dendrite were cell type specific. With these areas, artificial dendrites were grown based on optimization principles minimizing the amount of wiring and maximizing synaptic democracy. Although the same branching rule was used for all cells, this yielded dendritic structures virtually indistinguishable from their real counterparts. From these principles we derived a fully-automated model-based neuron reconstruction procedure validating the artificial branching rule. In conclusion, we suggest that the genetic program implementing neuronal branching could be constant in all cells whereas the one responsible for the dendrite spanning field should be cell specific.
Production of reactive oxygen species (ROS) by the mitochondrial respiratory chain is considered to be one of the major causes of degenerative processes associated with oxidative stress. Mitochondrial ROS has also been shown to be involved in cellular signaling. It is generally assumed that ubisemiquinone formed at the ubiquinol oxidation center of the cytochrome bc(1) complex is one of two sources of electrons for superoxide formation in mitochondria. Here we show that superoxide formation at the ubiquinol oxidation center of the membrane-bound or purified cytochrome bc(1) complex is stimulated by the presence of oxidized ubiquinone indicating that in a reverse reaction the electron is transferred onto oxygen from reduced cytochrome b(L) via ubiquinone rather than during the forward ubiquinone cycle reaction. In fact, from mechanistic studies it seems unlikely that during normal catalysis the ubisemiquinone intermediate reaches significant occupancies at the ubiquinol oxidation site. We conclude that cytochrome bc(1) complex-linked ROS production is primarily promoted by a partially oxidized rather than by a fully reduced ubiquinone pool. The resulting mechanism of ROS production offers a straightforward explanation of how the redox state of the ubiquinone pool could play a central role in mitochondrial redox signaling.
The market reaction to legal shocks and their antidotes : lessons from the sovereign debt market
(2008)
This Article examines the market reaction to a series of legal events concerning the judicial interpretation of the pari passu clause in sovereign debt instruments. More generally, the Article provides insights into the reactions of investors (predominantly financial institutions), issuers (sovereigns), and those who draft bond covenants (lawyers), to unanticipated changes in the judicial interpretation of certain covenant terms.
In left critiques of globalization, it is often argued that liberal-egalitarian principles are inadequate for thinking about and struggling for global justice; that they are, in fact, part of the problem. For the case of identity politics as a left alternative, the paper points at two fallacies in this notion, regarding two ‘liberal’ elements: individualism and universalism. The paper examines groupidentity claims in far right conceptions of global injustice, and shows that cultural diversity of groups does not necessitate or even favour equality and democratic participation. It then examines the left group-based claims in the global justice discourse, showing that the aspirations for equality and freedom assume the liberal notions that have been often rejected as inadequate. The paper concludes that this ambivalent position undermines the democratic and egalitarian aspirations of left critiques of the global order. The analysis is based on manifestos and publications of political parties and movements in Western Europe (France, Germany and Austria).
After the pioneering German “Aktiengesetz” of 1965 and the Brazilian “Lei das Sociedades Anónimas” of 1976, Portugal has become the third country in the world to enact a specific regulation on groups of companies. The Code of Commercial Companies (“Código das Sociedades Comerciais”, abbreviately hereinafter CSC), enacted in 1986, contains a unitary set of rules regulating the relationships between companies, in general, and the groups of companies, in particular (arts. 481° to 508°-E CSC). With this set of rules, the Portuguese legislator has dealt with one of the major topics of modern Company Law. While this branch of law is traditionally conceived as the law of the individual company, modern economic reality is characterized by the massive emergence of large-scale enterprise networks, where parts of a whole business are allocated and insulated in several legally independent companies submitted to an unified economic direction. As Tom HADDEN put it: “Company lawyers still write and talk as if the single independent company, with its shareholders, directors and employees, was the norm. In reality, the individual company ceased to be the most significant form of organization in the 1920s and 1930s. The commercial world is now dominated both nationally and internationally by complex groups of companies”. This trend, which is now observable in any of the largest economies in the world, holds also true for small markets such as Portugal. Although Portuguese economy is still dominated by small and medium-sized enterprises, the organizational structure of the group has always been extremely common. During the 70s, it was estimated that the seven largest groups of companies owned about 50% of the equity capital of all domestic enterprises and were alone responsible for 3/4 of the internal national product. Such a trend has continued and even highlighted in the next decades, surviving to different political and economic scenarios: during the 80s, due to the process of state nationalization of these groups, an enormous public group with more than one thousand controlled companies has been created (“IPE - Instituto de Participações do Estado”); and during the 90s until today, thanks to the reprivatisation movement and the opening of our national market, we assisted to the re-emergence of some large private groups, composed of several hundred subsidiaries each, some of which are listed in foreign stock exchange markets (e.g., in the banking sector, “BCP – Banco Comercial Português”, in the industrial area, “SONAE”, and in the media and communication area, “Portugal-Telecom”).
This monograph describes the overall language situation in Luxembourg, a highly multilingual country in Western Europe, from a language policy and planning perspective. The first part discusses the social and historical contexts, including major societal changes and uncertainties about the future, which are bound up with Europeanisation and the accelerated processes of globalisation. It also deconstructs the notions of Luxembourgish as a 'minority language' and French as the 'language of prestige', and describes a two-pronged language ideology that allows for either monolingual identification with Luxembourgish or trilingual identification with the languages recognised by the language law of 1984 (Luxembourgish / German / French). The second part discusses the trilingual school-system, a system in which large numbers of romanophone students are forced to go through a German-language literacy programme. The third part provides an overview of language spread in the areas of the media and literary writing. The fourth part examines language purism and tensions concerning the standardisation of Luxembourgish, as well as the debates about language requirements for citizenship. The discussion shows how language policy scholarship needs to be approached from a multidimensional perspective, that is, by taking into account dynamics on the global, regional and local levels in addition to those at the state level.
The execution, clearing, and settlement of financial transactions are all subject to substantial scale and scope economies which make each of these complementary functions a natural monopoly. Integration of trade, execution, and settlement in an exchange improves efficiency by economizing on transactions costs. When scope economies in clearing are more extensive than those in execution, integration is more costly, and efficient organization involves a trade-off of scope economies and transactions costs. A properly organized clearing cooperative can eliminate double marginalization problems and exploit scope economies, but can result in opportunism and underinvestment. Moreover, a clearing cooperative may exercise market power. Vertical integration and tying can foreclose entry, but foreclosure can be efficient because market power rents attract excessive entry. Integration of trading and post-trade services is the modal form of organization in financial markets, which is consistent with the hypothesis that transactional efficiencies explain organizational arrangements in these markets.
The Match method for the quantification of polar chemical ozone loss is investigated mainly with respect to the impact of the transport of air masses across the vortex edge. For the winter 2002/03, we show that significant transport across the vortex edge occurred and was simulated by the Chemical Lagrangian Model of the Stratosphere. In-situ observations of inert tracers and ozone from HAGAR on the Geophysica aircraft and balloon-borne sondes, and remote observations from MIPAS on the ENVISAT satellite were reproduced well by CLaMS. The model even reproduced a small vortex remnant that remained a distinct feature until June 2003 and was also observed in-situ by a balloon-borne whole air sampler. We use this CLaMS simulation to quantify the impact of transport across the vortex edge on ozone loss estimates from the Match method. We show that a time integration of the determined vortex average ozone loss rates, as performed in Match, results in a larger ozone loss than the polar vortex average ozone loss in CLaMS. The determination of the Match ozone loss rates is also influenced by the transport of air across the vortex edge. We use the model to investigate how the sampling of the ozone sondes on which Match is based represents the vortex average ozone loss rate. Both the time integration of ozone loss and the determination of ozone loss rates for Match are evaluated using the winter 2002/2003 CLaMS simulation. These impacts can explain the majority of the differences between CLaMS and Match column ozone loss. While the investigated effects somewhat reduce the apparent discrepancy in January ozone loss rates reported earlier, a distinct discrepancy between simulations and Match remains. However, its contribution to the accumulated ozone loss over the winter is not large.
This paper analyzes liquidity in an order driven market. We only investigate the best limits in the limit order book, but also take into account the book behind these inside prices. When subsequent prices are close to the best ones and depth at them is substantial, larger orders can be executed without an extensive price impact and without deterring liquidity. We develop and estimate several econometric models, based on depth and prices in the book, as well as on the slopes of the limit order book. The dynamics of different dimensions of liquidity are analyzed: prices, depth at and beyond the best prices, as well as resiliency, i.e. how fast the different liquidity measures recover after a liquidity shock. Our results show a somewhat less favorable image of liquidity than often found in the literature. After a liquidity shock (in the spread or depth or in the book beyond the best limits), several dimension of liquidity deteriorate at the same time. Not only does the inside spread increase, and depth at the best prices decrease, also the difference between subsequent bid and ask prices may become larger and depth provided at them decreases. The impacts are both econometrically and economically significant. Also, our findings point to an interaction between different measures of liquidity, between liquidity at the best prices and beyond in the book, and between ask and bid side of the market.
We report evidence that the presence of hidden liquidity is associated with greater liquidity in the order books, greater trading volume, and smaller price impact. Limit and market order submission behavior changes when hidden liquidity is present consistent with at least some traders being able to detect hidden liquidity. We estimate a model of liquidity provision that allows us to measure variations in the marginal and total payoffs from liquidity provision in states with and without hidden liquidity. Our estimates of the expected surplus to providers of visible and hidden liquidity are positive and typically of the order of one-half to one basis points per trade. The positive liquidity provider surpluses combined with the increased trading volume when hidden liquidity is present are both consistent with liquidity externalities.
The impact of European integration on the German system of pharmaceutical product authorization
(2008)
The European Union has evolved since 1965 into an influential political player in the regulation of pharmaceutical safety standards. The objective of establishing a single European market for pharmaceuticals makes it necessary for member-states to adopt uniform safety standards and marketing authorization procedures. This article investigates the impact of the European integration process on the German marketing authorization system for pharmaceuticals. The analysis shows that the main focal points and objectives of European regulation of pharmaceutical safety have shifted since 1965. The initial phase saw the introduction of uniform European safety standards as a result of which Germany was obliged to undertake “catch-up” modernization. From the mid-1970s, these standards were extended and specified in greater detail. Since the mid-1990s, a process of reorientation has been under way. The formation of the European Agency for the Evaluation of Medicinal Products (EMEA) and the growing importance of the European authorization procedure, combined with intensified global competition on pharmaceutical markets, are exerting indirect pressure for EU member-states to adjust their medicines policies. Consequently, over the past few years Germany has been engaged in a competition-oriented reorganization of its pharmaceutical product authorization system the outcome of which will be to give higher priority to economic interests.
The House of Falling Women
(2008)
House of Falling Women is the story of a young woman with quixotic ideas about improving the lot of women who finds out that the crusader's cloak is an uncomfortable one. Martha Elive, armed with a university education and a substantial legacy from a Dutchwoman she meets while studying abroad on a scholarship, decides to create an institute for the empowerment of women, only to find that the contradictions to be resolved are more firmly anchored in her psyche than elsewhere. In addition to her unexorcised ghosts and the legacies of a chequered love life, she has to contend with recalcitrant public opinion and moral inertia, the opposition of old-guard reactionaries, and the incomprehension of her small-town parents. House of Falling Women is a poignant, often hilarious story of the search by a group of women for a new place in society in a world where women are dissatisfied with the old values and bewildered by the new.
Histone deacetylase (HDAC) inhibitors represent a promising class of antineoplastic agents which affect tumour growth, differentiation and invasion. The effects of the HDAC inhibitor valproic acid (VPA) were tested in vitro and in vivo on pre-clinical renal cell carcinoma (RCC) models. Caki-1, KTC-26 or A498 cells were treated with various concentrations of VPA during in vitro cell proliferation 3-(4,5-dimethylthiazol-2-yl)-2,5-diphenyltetrazolium bromide assays and to evaluate cell cycle manipulation. In vivo tumour growth was conducted in subcutaneous xenograft mouse models. The anti-tumoural potential of VPA combined with low-dosed interferon-α (IFN-α) was also investigated. VPA significantly and dose-dependently up-regulated histones H3 and H4 acetylation and caused growth arrest in RCC cells. VPA altered cell cycle regulating proteins, in particular CDK2, cyclin B, cyclin D3, p21 and Rb. In vivo, VPA significantly inhibited the growth of Caki-1 in subcutaneous xenografts, accompanied by a strong accumulation of p21 and bax in tissue specimens of VPA-treated animals. VPA–IFN-α combination markedly enhanced the effects of VPA monotherapy on RCC proliferation in vitro, but did not further enhance the anti-tumoural potential of VPA in vivo. VPA was found to have profound effects on RCC cell growth, lending support to the initiation of clinical testing of VPA for treating advanced RCC.
We determine the hard-loop resummed propagator in an anisotropic QCD plasma in general covariant gauges and define a potential between heavy quarks from the Fourier transform of its static limit. We find that there is stronger attraction on distance scales on the order of the inverse Debye mass for quark pairs aligned along the direction of anisotropy than for transverse alignment.
Rising atmospheric CO2 is regarded as the main driver of global warming (Crowley, 2000). While temperature changes directly affect plants and animals (Root et al., 2003; Parmesan, 2006), the effects of CO2 on herbivores are mediated through changes in nutrient quality. Elevated concentrations of atmospheric CO2 are likely to increase photosynthetic activity and thus provide more C-based compounds which may alter plant chemical profiles and plant–herbivore–natural enemy interactions. There are several scenarios how insects will react when confronted with a different food quality. A nutrient poor diet, induced by nitrogen dilution, may result in compensatory feeding with either no adverse effects on insect performance or with negative effects on insect growth due to low digestibility of plant structural compounds (e.g. lignin) or toxic effects of secondary metabolites (e.g. tannins). Here we present data from on-tree feeding trials with larvae of the generalist herbivore Lymantria dispar and one of its natural enemies, the hymenopteran endoparasitoid Glyptapanteles liparidis, studied in 2005. The experiments were conducted at the Swiss free-air CO2 enrichment (FACE) site near Basel, in an approximately 80-100-yr-old, mixed-species forest. The data link changes in foliar chemistry of three tree species (Quercus petraea, Fagus sylvatica, Carpinus betulus) exposed to 540 ppm CO2 with herbivore and parasitoid performance.
A new global crop water model was developed to compute blue (irrigation) water requirements and crop evapotranspiration from green (precipitation) water at a spatial resolution of 5 arc minutes by 5 arc minutes for 26 different crop classes. The model is based on soil water balances performed for each crop and each grid cell. For the first time a new global data set was applied consisting of monthly growing areas of irrigated crops and related cropping calendars. Crop water use was computed for irrigated land and the period 1998 – 2002. In this documentation report the data sets used as model input and methods used in the model calculations are described, followed by a presentation of the first results for blue and green water use at the global scale, for countries and specific crops. Additionally the simulated seasonal distribution of water use on irrigated land is presented. The computed model results are compared to census based statistical information on irrigation water use and to results of another crop water model developed at FAO.
In the eastern United States, the genus Cotinis Burmeister previously contained only C. nitida (L.), the common economic pest known as the "Green June Beetle". A new species from the Florida Keys, Cotinis aliena, is here described and illustrated. A checklist is provided for the genus, which includes 27 valid New World species, and 44 synonyms.
The future of securitization
(2008)
Securitization is a financial innovation that experiences a boom-bust cycle, as many other innovations before. This paper analyzes possible reasons for the breakdown of primary and secondary securitization markets, and argues that misaligned incentives along the value chain are the primary cause of the problems. The illiquidity of asset and interbank markets, in this view, is a market failure derived from ill-designed mechanisms of coordinating financial intermediaries and investors. Thus, illiquidity is closely related to the design of the financial chains. Our policy conclusions emphasize crisis prevention rather than crisis management, and the objective is to restore a “comprehensive incentive alignment”. The toe-hold for strengthening regulation is surprisingly small. First, we emphasize the importance of equity piece retention for the long-term quality of the underlying asset pool. As a consequence, equity piece allocation needs to be publicly known, alleviating market pricing. Second, on a micro level, accountability of managers can be improved by compensation packages aiming at long term incentives, and penalizing policies with destabilizing effects on financial markets. Third, on a macro level, increased transparency relating to effective risk transfer, risk-related management compensation, and credible measurement of rating performance stabilizes the valuation of financial assets and, hence, improves the solvency of financial intermediaries. Fourth, financial intermediaries, whose risk is opaque, may be subjected to higher capital requirements.
The function of APOBEC3G in the innate immune response against the HIV infection of primary cells
(2008)
In the past few years the regulation of HIV-1 replication by cellular cofactors has been a major topic of ongoing research. These factors potentially represent new targets for antiviral therapy as resistance will be minimized. However this requires a better understanding of the interaction of HIV-1 with these cellular factors and the immune system. The virus infects the cells of the immune system, beginning with macrophages and dendritic cells as primary target cells during transmission. The cellular cofactor, APOBEC3G was found to be an antiviral factor in macrophages, dendritic cells and primary T cells. APOBEC3G is a cytidindeaminase which causes G->A hypermutations in the HIV-Genome. Another protein which has a strong inhibitory effect on the HIV infection is Interferon alpha (IFN-alpha), however the exact reason for this has not yet been elucidated. The bacterial protein, Lipopolysaccharide (LPS) also induces a strong antiviral state in macrophages. In micro-array analysis it was shown that APOBEC3G was upregulated after the stimulation with both IFN-alpha and LPS in macrophages. The goal of this work was to investigate the role of APOBEC3G in the innate immune response to APOBEC3G. For this, the expression of APOBEC3G was examined in HIV-1 target cells after stimulation with IFN-alpha or LPS and the effect of the protein on the viral infection was examined. In the first experiments it could be shown through real time quantitative PCR that APOBEC3G was overexpressed after the stimulation with IFN-alpha or LPS. This result could be shown in monocytes derived macrophages from different blood donors. It was also shown that the overexpression of APOBEC3G correlated directly with the concentration of IFN-alpha. Through mutational analysis it could be then shown that the overexpressed APOBEC3G protein was also functional in the cells. In order to show that this was the result of APOBEC3G, the protein was the regulated through lentiviral vectors. After transduction of cell lines with lentiviral vectors containing APOBEC3G, the infection was inhibited by up to 70%. The infection was restored after the addition of shRNAs against APOBEC3G. For the further experiments, CD34+ stem cells were used. The cells were transduced the day after thawing with lentiviral vectors containing an eGFP marker gene and either APOBEC3G or shRNAs against APOBEC3G. The CD34+ cells were then cultivated and differentiated to macrophages. The cells transduced with Lentiviral vectors containing APOBEC3G had a very high expression of APOBEC3G in the cells, however the cells transduced with shRNA against APOBEC3G did not show a reduction in the protein expression. The infectivity of the transduced CD34+ and CD34 derived macrophages was then examined. It was expected that the cells transduced with APOBEC3G would show a reduced HIV-1 infection, and the cells transduced with shRNA against APOBEC3G would show an increase in infection. After the transduction and differentiation the CD34+ cells from the 3 donors were stimulated and infected with wild type HIV-1 and Vif defective HIV-1 virus. Vif is a viral protein that can bind to APOBEC3G leading it to the proteasome for degradation. The cells from the first donor transduced with APOBEC3G, were very difficult to infect. In general the shRNA against APOBEC3G had little effect on the course of infection; presumably, the shRNA against APOBEC3G was not active in most of these cells. Only the cells from the first donor showed an increase in HIV infection after the transduction with the shRNAs against APOBEC3G, this was most notably the case in the cells stimulated with IFN-alpha, which usually show very little infection. This work showed that APOBEC3G plays an important role in the innate immune response to HIV-1. The effect of APOBEC3G is both cell type as well as donor dependent. Recently, an interesting study also showed that there is a correlation between the expression of APOBEC3G in HIV infected individuals and their progression to AIDS. A better understanding of the role that APOBEC3G plays in the innate immune response would help in the search of new therapeutic possibilities. This could be done by inhibiting the Vif-APOBEC3G interaction in order to increase the amount of active APOBEC3G in the cells or increasing the APOBEC3G concentration in the cells in some manner.
The Fire Within
(2008)
In Africa, there is unrest, and possibly tragedy, when new trends clash with traditional values. With a curmudgeonly stepmother who harasses her even as she spoils her own biological daughter, Mungeu', the protagonist, blazes a path for herself in the face of many odds. But things go terribly wrong when she falls pregnant. The dilemma of whether or not to keep the pregnancy, given society's expectations, flings this young woman into direct confrontation with a life that is beyond her years. She is bent on succeeding: she will keep her baby, and with her training at a girls' craft center, start a business and bring up her illegitimate child. But Mungeu' can only make plans as she realises before long that the authority to dispose of them does not rest with her alone; there are other powerful forces out there.
We report progress in our exploration of the finite-temperature phase structure of two-flavour lattice
QCD with twisted-mass Wilson fermions and a tree-level Symanzik-improved gauge action
for a temporal lattice size Nt = 8. Extending our investigations to a wider region of parameter
space we gain a global view of the rich phase structure. We identify the finite temperature transition/
crossover for a non-vanishing twisted-mass parameter in the neighbourhood of the zerotemperature
critical line at sufficiently high b . Our findings are consistent with Creutz’s conjecture
of a conical shape of the finite temperature transition surface. Comparing with NLO lattice
cPT we achieve an improved understanding of this shape.
The term cephalic sensory organ (CSO) is used for specialised structures in the head region of adult Opisthobranchia. These sensory organs show a high diversity in form and function, and the gross morphology of these organs differs considerably among taxa. They can be identified as cephalic shields, oral veils, Hancocks organs, lip organs, rhinophores or oral tentacles. Because of this extremely high diversity, the homology and the evolution of these organs have not been clarified yet. My intention was to use neuroanatomical data sets in order to find putative homologous CSOs. In this study, I will show data about immunohistochemical neurotransmitter content and cellular innervation patterns and their applicability as morphological characters for the homologisation of structures. I support earlier investigations that neurotransmitter content is often related to function. In contrast, axonal tracing patterns can be used to homologise nerves. Overall the aim of this study was to reconstruct the evolution of the CSOs of the Opisthobranchia, by projecting our neuroanatomical data sets onto a molecular phylogeny.
On 27 and 28 September 2007, a commission formed on the initiative of the authors held its first meeting in Aarhus, Denmark to deliberate on its goal of drafting a "European Model Company Law Act" (EMCLA). This project, outlined in the following pages, aims neither to force a mandatory harmonization of national company law nor to create a further, European corporate form. The goal is rather to draft model rules for a corporation that national legislatures would be free to adopt in whole or in part. Thus, the project is thought as an alternative and supplement to the existing EU instruments for the convergence of company law. The present EU instruments, their prerequisites and limits will be discussed in more detail in Part II, below. Part III will examine the US experience with such "model acts" in the area of company law. Part IV will then conclude by discussing several topics concerning the content of an EMCLA, introducing the members of the EMCLA Working Group, and explaining the Group's preliminary working plan.
The enigmatic R. David Lida
(2008)
The emperor's new colonies
(2008)
The Colonial Picture Archive in Frankfurt offers a unique pictorial record of German colonial history. For many years the collection was virtually forgotten. However, following painstaking description and digitalisation, the photo documents are now available on the Internet to researchers in Germany and abroad.
Motivated by the recent discussion of the declining importance of deposits as banks´ major source of funding we investigate which factors determine funding costs at local banks. Using a panel data set of more than 800 German local savings and cooperative banks for the period from 1998 to 2004 we show that funding costs are not only driven by the relative share of comparatively cheap deposits of bank´s liabilities but among other factors especially by the size of the bank. In our empirical analysis we find strong and robust evidence that, ceteris paribus, smaller banks exhibit lower funding costs than larger banks suggesting that small banks are able to attract deposits more cheaply than their larger counterparts. We argue that this is the case because smaller banks interact more personally with customers, operate in customers´ geographic proximity and have longer and stronger relationships than larger banks and, hence, are able to charge higher prices for their services. Our finding of a strong influence of bank size on funding costs is also in an in- ternational context of great interest as mergers among small local banks - the key driver of bank growth - are a recent phenomenon not only in European banking that is expected to continue in the future. At the same time, net interest income remains by far the most important source of revenue for most local banks, accounting for approximately 70% of total operating revenues in the case of German local banks. The influence of size on funding costs is of strong economic relevance: our results suggest that an increase in size by 50%, for example, from EUR 500 million in total assets to EUR 750 million (exemplary for M&A transactions among local banks) increases funding costs, ceteris paribus, by approximately 18 basis points which relates to approx. 7% of banks´ average net interest margin.
We study the effect of randomness in the adversarial queueing model. All proofs of instability for deterministic queueing strategies exploit a finespun strategy of insertions by an adversary. If the local queueing decisions in the network are subject to randomness, it is far from obvious, that an adversary can still trick the network into instability. We show that uniform queueing is unstable even against an oblivious adversary. Consequently, randomizing the queueing decisions made to operate a network is not in itself a suitable fix for poor network performances due to packet pileups.
In this paper, we examine the impact of mergers among German savings banks on the extent to which these savings banks engage in small business lending. The ongoing consolidation in the banking industry has sparked concerns about the continuous availability of credit to small businesses which has been further fueled by empirical studies that partly confirm a reduction in small business lending in the aftermath of mergers. However, using a proprietary data set of German savings banks we find strong evidence that in Germany merging savings banks do not significantly change the extent to which they lend to small businesses compared to prior to the merger or compared to the contemporaneous lending by non-merging banks. We investigate the merger related effects on small business lending in Germany from a bank-level perspective. Furthermore, we estimate small business lending and its continuous adjustment process simultaneously using recent General Method of Moments (GMM) techniques for panel data as proposed by Arellano and Bond (1991).
Poster presentation A central problem in neuroscience is to bridge local synaptic plasticity and the global behavior of a system. It has been shown that Hebbian learning of connections in a feedforward network performs PCA on its inputs [1]. In recurrent Hopfield network with binary units, the Hebbian-learnt patterns form the attractors of the network [2]. Starting from a random recurrent network, Hebbian learning reduces system complexity from chaotic to fixed point [3]. In this paper, we investigate the effect of Hebbian plasticity on the attractors of a continuous dynamical system. In a Hopfield network with binary units, it can be shown that Hebbian learning of an attractor stabilizes it with deepened energy landscape and larger basin of attraction. We are interested in how these properties carry over to continuous dynamical systems. Consider system of the form Math(1) where xi is a real variable, and fi a nondecreasing nonlinear function with range [-1,1]. T is the synaptic matrix, which is assumed to have been learned from orthogonal binary ({1,-1}) patterns ξμ, by the Hebbian rule: Math. Similar to the continuous Hopfield network [4], ξμ are no longer attractors, unless the gains gi are big. Assume that the system settles down to an attractor X*, and undergoes Hebbian plasticity: T´ = T + εX*X*T, where ε > 0 is the learning rate. We study how the attractor dynamics change following this plasticity. We show that, in system (1) under certain general conditions, Hebbian plasticity makes the attractor move towards its corner of the hypercube. Linear stability analysis around the attractor shows that the maximum eigenvalue becomes more negative with learning, indicating a deeper landscape. This in a way improves the system´s ability to retrieve the corresponding stored binary pattern, although the attractor itself is no longer stabilized the way it does in binary Hopfield networks.
Generally, information provision and certifcation have been identified as the major economic functions of rating agencies. This paper analyzes whether the “watchlist” (rating review) instrument has extended the agencies' role towards a monitoring position, as proposed by Boot, Milbourn, and Schmeits (2006). Using a data set of Moody's rating history between 1982 and 2004, we find that the overall information content of rating action has indeed increased since the introduction of the watchlist procedure. Our findings suggest that rating reviews help to establish implicit monitoring contracts between agencies and borrowers and as such enable a finer partition of rating information, thereby contributing to a higher information quality.
Generally, information provision and certification have been identified as the major economic functions of rating agencies. This paper analyzes whether the “watchlist" (rating review) instrument has extended the agencies' role towards a monitoring position, as proposed by Boot, Milbourn, and Schmeits (2006). Using a data set of Moody's rating history between 1982 and 2004, we find that the overall information content of rating action has indeed increased since the introduction of the watchlist procedure. Our findings suggest that rating reviews help to establish implicit monitoring contracts between agencies and borrowers and as such enable a finer partition of rating information, thereby contributing to a higher information quality.
Based on a unique dataset of legislative changes in industrial countries, we identify events that strengthen the competition control of mergers and acquisitions, analyze their impact on banks and non-financial firms and explain the different reactions observed with specific regulatory characteristics of the banking sector. Covering nineteen countries for the period 1987 to 2004, we find that more competition-oriented merger control increases the stock prices of banks and decreases the stock prices of non-financial firms. Bank targets become more profitable and larger, while those of non-financial firms remain mostly unaffected. A major determinant of the positive bank returns is the degree of opaqueness that characterizes the institutional setup for supervisory bank merger reviews. The legal design of the supervisory control of bank mergers may therefore have important implications for real activity.
The case for privatization, whether defined in a broad or narrow sense, has been forcefully made by its advocates against the backdrop of the much advertised poor performances of state-owned enterprises (SOEs) and theoretical arguments relating to the efficiency of private firms over public enterprises. Consequently, privatization and commercialization have been key components of the structural adjustment programmes foisted by the Bretton Woods institutions on Third World countries. Yet, the empirical findings on privatization, especially outside Africa where they exist, do not portray the strategy to be a panacea that works in all circumstances in all branches of economic activity. In spite of this, since the late 1980s, privatization has been stepped up in almost all African countries. And after about two decades of vigorous implementation of privatization programmes in Africa, there is a compelling need for a comprehensive and systematic analysis of various privatization issues, particularly the economic and social impact. This book thus establishes a clear case for a comprehensive and systematic analysis of the impact of privatization in Africa. Specifically, the book provides a state-of-the art review of privatization issues and research questions as a prelude to an in-depth study of the economic and social impact of privatization. In the light of the rich insights brought to bear on the issues, this book should stimulate the interest of researchers, donors and policy makers to undertake or support the follow-up in-depth research envisaged.
Vertov defined the basic qualities of his Cine-Eye by means of a simple negation: it sees what remains inaccessible to the human eye. This means that in his films we see media-based and media-produced images that have nothing to do with the imitation of human perception. According to Vertov, such filmic, telescopic, or microscopic perception develops, educates, and expands the viewer’s analytical abilities. Thus, we have on the one hand a media-induced perception and on the other a new assemblage or montage of the fragments of this mediated perception. This new montage is based on a specific interaction and follows poetic rather than prosaic rules. It is freed from such constraints as time, space, causality, or speed. In other words it is based on properly media-specific qualities and, following the terminology of the Russian Futurists who influenced Vertov in his youth, it constitutes zaum or transrationality.
Previous evidence suggests that less liquid stocks entail higher average returns. Using NYSE data, we present evidence that both the sensitivity of returns to liquidity and liquidity premia have significantly declined over the past four decades to levels that we cannot statistically distinguish from zero. Furthermore, the profitability of trading strategies based on buying illiquid stocks and selling illiquid stocks has declined over the past four decades, rendering such strategies virtually unprofitable. Our results are robust to several conventional liquidity measures related to volume. When using liquidity measure that is not related to volume, we find just weak evidence of a liquidity premium even in the early periods of our sample. The gradual introduction and proliferation of index funds and exchange traded funds is a possible explanation for these results.
The Day God Blinked
(2008)
The Day God Blinked x-rays the politico-economic and socio-moral life of a rich and resourceful country called Ewawa from 1982 to 2007. The country had been ruled by a dynamic and insightful miser known as the Old Man. But because he had been in power for too long, his citizens longed for change. It happened when nobody expected it. The old man died suddenly in his sleep and was replaced by his handpicked successor. Unfortunately, the successor whom everybody had expected would do better plunged the country into terrible economic and moral crises. Lucia, the protagonist, narrates her predicament. To her, Ewawa is rotten in all totality. There is nowhere to turn for salvation. The custodians of the economic, social, moral and spiritual values of the land are not up to the task. The country is without hope. Is all doomed?
Ribosome biogenesis in eukaryotes requires the participation of a large number of ribosome assembly factors. The highly conserved eukaryotic nucleolar protein Nep1 has an essential but unknown function in 18S rRNA processing and ribosome biogenesis. In Saccharomyces cerevisiae the malfunction of a temperature-sensitive Nep1 protein (nep1-1ts) was suppressed by the addition of S-adenosylmethionine (SAM). This suggests the participation of Nep1 in a methyltransferase reaction during ribosome biogenesis. In addition, yeast Nep1 binds to a 6-nt RNA-binding motif also found in 18S rRNA and facilitates the incorporation of ribosomal protein Rps19 during the formation of pre-ribosomes. Here, we present the X-ray structure of the Nep1 homolog from the archaebacterium Methanocaldococcus jannaschii in its free form (2.2 Å resolution) and bound to the S-adenosylmethionine analog S-adenosylhomocysteine (SAH, 2.15 Å resolution) and the antibiotic and general methyltransferase inhibitor sinefungin (2.25 Å resolution). The structure reveals a fold which is very similar to the conserved core fold of the SPOUT-class methyltransferases but contains a novel extension of this common core fold. SAH and sinefungin bind to Nep1 at a preformed binding site that is topologically equivalent to the cofactor-binding site in other SPOUT-class methyltransferases. Therefore, our structures together with previous genetic data suggest that Nep1 is a genuine rRNA methyltransferase.
Hong Kong’s Linked Exchange Rate System (LERS) has been in operation for twenty-five years during which time many other fixed exchange rate systems have succumbed to shocks and/or speculative attacks. This fact alone suggests that the LERS is a robust system which enjoys a large measure of credibility in financial markets. This paper intends to investigate whether this is indeed the case, and whether it has been the case throughout its 25-year history. In particular we will use the tools of modern finance to extract information from financial asset prices about market expectations that are related to the credibility of the LERS. The main focus is on how market participants ‘judged’ the various changes made to the LERS, such as the ‘seven technical measures’ introduced in September 1998 and the ‘three refinements’ made in May 2005. These changes have been characterizes as making the system less discretionary over time, and we hypothesize that they have also made it more credible as revealed in the prices of exchange rate related asset prices. We also investigate the relationship between interest rates and exchange rates in the current system in light of modern models of target-zone exchange rate systems. We will examine whether the intramarginal intervention in November 2007 changed the dynamic properties of the exchange rate as suggested by such models.
In a charter issued on 5 May 1513, the mayor and city council of the city of Freiburg/Breisgau reported that several citizens wanted to be allowed to establish a bruderschaft der sengerye, a confraternity of singing. “God, the almighty, would be praised thereby, the souls would be consoled, and all men listening to the concerts would be kept from blasphemy, gaming and other secular vices” (“gott der allmechtig [würde] dardurch gelopt, die selen getröst und die menschen zu zyten, so sy dem gesang zuhorten, von gotslesterung, ouch vom spyl vnd anderer weltlicher uppigkeyt gezogen”). Considering not least the “positive effects on the pour souls” (“guettaeten, so den armen selen dardurch nachgeschechen mocht”), the request was allowed. But the petitioners had to establish their bruderschaft in exactly the form that is described in detail in the regulations (ordnung) added to the request and cited “word for word” (“von wort zu wort”) in 17 articles in the foundation charter of the confraternity.
The Chanukah omission
(2008)
This book richly documents the battles fought by the Anglophone community in Cameroon to safeguard the General Certificate of Education (GCE), a symbol of their cherished colonial heritage from Britain, from attempts by agents of the Ministry of National Education to subvert it. These battles opposed a mobilised and determined Anglophone civil society against numerous machinations by successive Francophone-dominated governments to destroy their much prided educational system in the name of 'national integration'. When Southern Cameroonians re-united with La R?publique du Cameroun in 1961, they claimed that they were bringing into the union 'a fine education system' from which their Francophone compatriots could borrow. Instead, they found themselves battling for decades to save their way of life. Central to their concerns and survival as a community is an urgent need for cultural recognition and representation, of which an educational system free of corruption and trivialisation through politicisation is a key component.