Automatic Stabilizer Feature of Fixed Exchange Rate Regimes in Emerging Markets

This paper shows that countries characterized by a financial accelerator mechanism may reverse the usual finding of the literature -- flexible exchange rate regimes do a worse job of insulating open economies from external shocks. I obtain this result with a calibrated small open economy model that endogenizes foreign interest rates by linking them to the banking sector's foreign currency leverage. This relationship renders exchange rate policy more important compared to the usual exogeneity assumption. I find empirical support for this prediction using the Local Projections method. Finally, 2nd order approximation to the model finds larger welfare losses under flexible regimes.

The Real Exchange Rate in Small Open Developed Economies: Evidence from Cointegration Analysis

We examine the effects of the terms of trade and the expected real interest rate differential on the real exchange rate in a sample of small open developed economies. We employ cointegration analysis to search for possible long-term linkages. We find that while both the terms of trade and the expected real interest rate differentials affect the real exchange rate in the long run, the role of the terms of trade generally proves more consistent across countries. The speed of adjustment for the expected real interest rate differential in the error-correction model, however, is quantitatively larger than it is for the terms of trade.

Monetary and Exchange Rate Policy in Multisectorial Economies

We develop a two-sector economy where each sector is classified as classical/Keynesian (contract/noncontract) in the labor market and traded/nontraded in the product market. We consider the effects of changes in monetary and exchange rate policy on sectoral and aggregate prices and outputs for different sectoral characterizations. Duca (1987) shows that nominal wage rigidity facilitates the effectiveness of monetary policy even in the classical sector. We demonstrate that trade price rigidity provides a similar path for the effectiveness of monetary policy, in this case, even when both sectors are classical.

A descriptive study of syphilis infection in Houston, Texas, 1999--2008

The rate of syphilis nationally has been on the rise since 2001. Syphilis, if left untreated can facilitate the transmission of HIV infection. An epidemiologic study describing the trends of syphilis is important to the public health community to lay the foundation for the development and implementation of programs to prevent and eliminate syphilis in the United States. ^ The objective of this study was to describe the trends of syphilis among the population in Houston/Harris County, Texas. ^ We reviewed surveillance data that included 11,605 unique cases from the Houston Department of Human and Health Service from 1999 through 2008. The rates were calculated per 100,000 population. ^ We show the prevalence of syphilis at testing (excluding congenital) increased 40% in Houston/Harris County, Texas from 2001 through 2008, and the ratio of syphilis comparing men to women was 2:1. The 18–29 years age group had the highest percentage of cases of syphilis among all age groups in Houston/Harris County. Primary and Secondary (P&S) syphilis, the most infectious stage, had an 85% increase in rate among males from 1999 through 2008. ^ Between 1999 and 2000, 71% of cases were identified through public facilities compared to private facilities. However, after 2001 rates shifted over more to the private facilities. By 2008, private facilities identified 54.7% of cases, compared to 45.3% identified through public facilities. This may be due to an increase among individuals who have a higher socio-economic status with access to health care insurance. ^ In conclusion, syphilis rates from 1999 through 2008 increased among all race ethnicities, age groups, and genders in Houston/Harris County. Blacks still are disproportionally affected by syphilis infections, and for the first time, White males displayed a significant increase in cases among males. It is vital to Houston public health professionals to have improved surveillance techniques to track syphilis trends and engage high risk groups to better understand their risks in hope of treating and preventing syphilis.^

Elimination of racial/ethnic Hepatitis B vaccination disparities in the US in the 2007--2008 National Health and Nutrition Examination Survey

Viral hepatitis is a significant public health problem worldwide and is due to viral infections that are classified as Hepatitis A, B, C, D, and E. Hepatitis B is one of the five known hepatic viruses. A safe and effective vaccine for Hepatitis B was first developed in 1981, and became adopted into national immunization programs targeting infants since 1990 and adolescents since 1995. In the U.S., this vaccination schedule has led to an 82% reduction in incidence from 8.5 cases per 100,000 in 1990 to 1.5 cases per 100,000 in 2007. Although there has been a decline in infection among adolescents, there is still a large burden of hepatitis B infection among adults and minorities. There is very little research in regards to vaccination gaps among adults. Using the National Health and Nutrition Examination Survey (NHANES) question "{Have you/Has SP (Study Participant)} ever received the 3-dose series of the hepatitis B vaccine?" the existence of racial/ethnic gaps using a cross-sectional study design was explored. In this study, other variables such as age, gender, socioeconomic variables (federal poverty line, educational attainment), and behavioral factors (sexual practices, self-report of men having sex with men, and intravenous drug use) were examined. We found that the current vaccination programs and policies for Hepatitis B had eliminated racial and ethnic disparities in Hepatitis B vaccination, but that a low coverage exists particularly for adults who engage in high risk behaviors. This study found a statistically significant 10% gap in Hepatitis B vaccination between those who have and those who do not have access to health insurance.^

(Table 1) Sea ice and snow characteristics and heat fluxes observed during R/V Aurora Australis cruise to East Antarctica in September/October 2007

The properties of snow on East Antarctic sea ice off Wilkes Land were examined during the Sea Ice Physics and Ecosystem Experiment (SIPEX) in late winter of 2007, focusing on the interaction with sea ice. This observation includes 11 transect lines for the measurement of ice thickness, freeboard, and snow depth, 50 snow pits on 13 ice floes, and diurnal variation of surface heat flux on three ice floes. The detailed profiling of topography along the transects and the d18O, salinity, and density datasets of snow made it possible to examine the snow-sea-ice interaction quantitatively for the first time in this area. In general, the snow displayed significant heterogeneity in types, thickness (mean: 0.14 +- 0.13 m), and density (325 +- 38 kg/m**3), as reported in other East Antarctic regions. High salinity was confined to the lowest 0.1 m. Salinity and d18O data within this layer revealed that saline water originated from the surface brine of sea ice in 20% of the total sites and from seawater in 80%. From the vertical profiles of snow density, bulk thermal conductivity of snow was estimated as 0.15 W/K/m on average, only half of the value used for numerical sea-ice models. Although the upward heat flux within snow estimated with this value was significantly lower than that within ice, it turned out that a higher value of thermal conductivity (0.3 to 0.4 W/K/m) is preferable for estimating ice growth amount in current numerical models. Diurnal measurements showed that upward conductive heat flux within the snow and net long-wave radiation at the surface seem to play important roles in the formation of snow ice from slush. The detailed surface topography allowed us to compare the air-ice drag coefficients of ice and snow surfaces under neutral conditions, and to examine the possibility of the retrieval of ice thickness distribution from satellite remote sensing. It was found that overall snow cover works to enhance the surface roughness of sea ice rather than moderate it, and increases the drag coefficient by about 10%. As for thickness retrieval, mean ice thickness had a higher correlation with ice surface roughness than mean freeboard or surface elevation, which indicates the potential usefulness of satellite L-band SAR in estimating the ice thickness distribution in the seasonal sea-ice zone.

Aerosol total mass concentration and optical depth during IPY 2007-2008 at Maitri and Larsemann Hills Station

The properties of background aerosols and their dependence on meteorological, geographical and human influence are examined using measured spectral aerosol optical depth (AOD), total mass concentration (Mt) and derived number size distribution (NSD) over two distinct coastal locations of Antarctica; Maitri (70°S, 12°E, 123 m m.s.l.) and Larsemann Hills (LH; 69°S, 77°E, 48 m m.s.l.) during southern hemispheric summer of 2007-2008 as a part of the 27th Indian Scientific Expedition to Antarctica (ISEA) during International Polar Year (IPY). Our investigations showed comparable values for the mean columnar AOD at 500 nm over Maitri (0.034±0.005) and LH (0.032±0.006) indicating good spatial homogeneity in the columnar aerosol properties over the coastal Antarctica. Estimation of Angstrom exponent a showed accumulation mode dominance at Maitri (alpha ~1.2±0.3) and coarse mode dominance at LH (0.7±0.2). On the other hand, mass concentration (M(T)) of ambient aerosols showed relatively high values (~8.25±2.87 µg/m**3) at Maitri in comparison to LH (6.03±1.33 µg/m**3).