Ranking of tests for pain hypersensitivity according to their discriminative ability in chronic neck pain

BACKGROUND AND OBJECTIVES Quantitative sensory testing (QST) is widely used to investigate peripheral and central sensitization. However, the comparative performance of different QST for diagnostic or prognostic purposes is unclear. We explored the discriminative ability of different quantitative sensory tests in distinguishing between patients with chronic neck pain and pain-free control subjects and ranked these tests according to the extent of their association with pain hypersensitivity. METHODS We performed a case-control study in 40 patients and 300 control subjects. Twenty-six tests, including different modalities of pressure, heat, cold, and electrical stimulation, were used. As measures of discrimination, we estimated receiver operating characteristic curves and likelihood ratios. RESULTS The following quantitative sensory tests displayed the best discriminative value: (1) pressure pain threshold at the site of the most severe neck pain (fitted area under the receiver operating characteristic curve, 0.92), (2) reflex threshold to single electrical stimulation (0.90), (3) pain threshold to single electrical stimulation (0.89), (4) pain threshold to repeated electrical stimulation (0.87), and (5) pressure pain tolerance threshold at the site of the most severe neck pain (0.86). Only the first 3 could be used for both ruling in and out pain hypersensitivity. CONCLUSIONS Pressure stimulation at the site of the most severe pain and parameters of electrical stimulation were the most appropriate QST to distinguish between patients with chronic neck pain and asymptomatic control subjects. These findings may be used to select the tests in future diagnostic and longitudinal prognostic studies on patients with neck pain and to optimize the assessment of localized and spreading sensitization in chronic pain patients.

From «Pflantz-Gart» to «Stammregister». On the history of knowledge of fruit cultivation in the canton of Bern

Among the efforts for the improvement of agricultural productivity, the cultivation of useful plants is particularly at the center of the Economic Enlightenment. In contrast to fodder and textile plants, cereals and potatoes, fruit trees are not included among its favoured subjects. This may be considered as astonishing in view of the significance that fruit has acquired in the contemporary diet. Be that as it may, efforts to improve fruit cultivation go back to even before the classical period of the Economic Enlightenment. The example of Bern in particular is suited to such an analysis over the Longue durée that covers the time from Daniel Rhagor’s «Pflantz-Gart» (1639) to the «Register of varieties of excellent species of pome fruits for the canton of Bern» (Stammregister, 1865). From the perspective of the history of knowledge, the connections between scholarly knowledge and local experience on the one hand and the changing actors in these knowledge systems on the other hand are of special interest here

Integrin signaling in the regulation of lymphocyte morphology

In normal lymphocytes an “inside-out” signal up-regulating integrin adhesion is followed by a ligand mediated “outside-in” signal for cell spreading. Although PKC mediates both events, distinct roles were found for different PLCs. The inhibition of phosphatidylinositol specific PLC decreased both cell adhesion and spreading on fibronectin in T cell receptor/CD28 activated peripheral blood T cells. However, inhibition of phosphatidylcholine specific PLC only blocked cell spreading and did not affect adhesion, indicating that “inside-out” signaling for the integrin α4β1 proceeds through phosphatidylinositol specific PLC and PKC, while the “outside-in” signal utilizes phosphatidylcholine specific PLC and PKC. Furthermore, β1 integrin chain mediated morphological changes in the T lymphocytic cell line HPB-ALL directly paralleled PKA activation, treatment of these cells with an inhibitory anti-β1 antibody blocked PKA activation and cell spreading, and this inhibition could be overcome by activating adenylate cyclase. Furthermore, inhibition of PKA was found to decrease the overall strength of cell adhesion or cellular avidity without affecting individual receptor affinity for soluble ligand. ^ When HPB-ALL cells interact with immobilized FN, two separate morphological phenotypes can be induced. Some cells flattened their cell body into a triangular shape and begin to migrate, while others extended a pseudopod from their stationary cell body. This second morphology recapitulates the shape changes observed during transendothelial migration. During these morphological changes, α4β1 integrins are internalized into endocytic vesicles that ultimately accumulate at the juncture between the cell body and an extending pseudopod. From this juncture, they are rapidly transported down the length of the pseudopod to its most distal end. ^ In addition to an accumulation of integrin containing vesicles, the pseudopod base was found to have increased amounts of the small GTPase RhoA and active PKA. The inhibition of PKA or RhoA resulted in lymphocytes with similar aberrant stellate morphologies. Furthermore, inhibition of PKA blocked the α4β1 mediated phosphorylation of RhoA. The co-localization of active PKA, RhoA and integrin containing endocytic vesicles indicates that integrin triggering can cause the rapid redistribution and activation of key signaling intermediates and raises the possibility that regulation of lymphocyte morphology by PKA and RhoA is through adhesion receptor recycling. ^

Into the abyss of Lake Geneva: the elemo interdisciplinary field investigation using the MIR submersibles

In summer 2011, the two Russian MIR sub- mersibles were brought to Switzerland to perform deep water dives in Lake Geneva. Research teams from several environmental science institutes, both national and inter- national, participated in this interdisciplinary effort to investigate the deeper parts of Lake Geneva. Using the MIRs allowed the scientists to see and precisely select the sites where they could extract specific sediment cores and carry out detailed in situ measurements at the sediment– water boundary. One focus site was the surrounding of the outlet of the wastewater treatment plant of the City of Lausanne, which discharges into the Vidy Bay. The investigations concentrated on the pollution of the local sediments, pollution-related ecotoxicological risks, micro- bial activity and spreading and removal of the effluents from the bay to the open waters of the lake. The other focus site was the Rhoˆne River delta and its subaquatic canyons, which formed as a result of the long-term interplay of the deposition of river-borne sediments and flood-triggered canyon erosion events.

Diagnosis of sexually transmitted infections in developing nations using syndromic management: Is it working?

Sexually transmitted infections (STIs) are a major public health problem, and controlling their spread is a priority. According to the World Health Organization (WHO), there are 340 million new cases of treatable STIs among 15–49 year olds that occur yearly around the world (1). Infection with STIs can lead to several complications such as pelvic inflammatory disorder (PID), cervical cancer, infertility, ectopic pregnancy, and even death (1). Additionally, STIs and associated complications are among the top disease types for which healthcare is sought in developing nations (1), and according to the UNAIDS report, there is a strong connection between STIs and the sexual spread of HIV infection (2). In fact, it is estimated that the presence of an untreated STI can increase the likelihood of contracting and spreading HIV by a factor up to 10 (2). In addition, developing countries are poorer in resources and lack inexpensive and precise diagnostic laboratory tests for STIs, thereby exacerbating the problem. Thus, the WHO recommends syndromic management of STIs for delivering care where lab testing is scarce or unattainable (1). This approach utilizes the use of an easy to use algorithm to help healthcare workers recognize symptoms/signs so as to provide treatment for the likely cause of the syndrome. Furthermore, according to the WHO, syndromic management offers instant and legitimate treatment compared to clinical diagnosis, and that it is also more cost-effective for some syndromes over the use of laboratory testing (1). In addition, even though it has been shown that the vaginal discharge syndrome has low specificity for gonorrhea and Chlamydia and can lead to over treatment (1), this is the recommended way to manage STIs in developing nations. Thus, the purpose of this paper is to specifically address the following questions: is syndromic management working to lower the STI burden in developing nations? How effective is it, and should it still be recommended? To answer these questions, a systematic literature review was conducted to evaluate the current effectiveness of syndromic management in developing nations. This review examined published articles over the past 5 years that compared syndromic management to laboratory testing and had published sensitivity, specificity, and positive predicative value data. Focusing mainly on vaginal discharge, urethral discharge, and genital ulcer algorithms, it was seen that though syndromic management is more effective in diagnosing and treating urethral and genial ulcer syndromes in men, there still remains an urgent need to revise the WHO recommendations for managing STIs in developing nations. Current studies have continued to show decreased specificity, sensitivity and positive predicative values for the vaginal discharge syndrome, and high rates of asymptomatic infections and healthcare workers neglecting to follow guidelines limit the usefulness of syndromic management. Furthermore, though advocate d as cost-effective by the WHO, there is a cost incurred from treating uninfected people. Instead of improving this system, it is recommended that better and less expensive point of care and the development of rapid test diagnosis kits be the focus and method of diagnosis and treatment in developing nations for STI management. ^

Outcomes of tuberculosis positive non-injection drug users in Harris County from October 1995 through September 2004

Background. The population-based Houston Tuberculosis Initiative (HTI) study has enrolled and gathered demographic, social, behavioral, and disease related data on more than 80% of all reported Mycobacterium Tuberculosis (MTB) cases and 90% of all culture positive patients in Houston/Harris County over a 9 year period (from October 1995-September 2004). During this time period 33% (n=1210) of HTI MTB cases have reported a history of drug use. Of those MTB cases reporting a history of drug use, a majority of them (73.6%), are non-injection drug users (NIDUs). ^ Other than HIV, drug use is the single most important risk factor for progression from latent to infectious tuberculosis (TB). In addition, drug use is associated with increased transmission of active TB, as seen by the increased number of clonally related strains or clusters (see definition on page 30) found in this population. The deregulatory effects of drug use on immune function are well documented. Associations between drug use and increased morbidity have been reported since the late 1970's. However, limited research focused on the immunological consequence of non-injection drug use and its relation to tuberculosis infection among TB patients is available. ^ Methods. TB transmission patterns, symptoms, and prevalence of co-morbidities were a focus of this project. Smoking is known to suppress Nitric Oxide (NO) production and interfere with immune function. In order to limit any possible confounding due to smoking two separate analyses were done. Non-injection drug user smokers (NIDU-S) were compared to non-drug user smokers (NDU-S) and non-injection drug user non-smokers (NIDU-NS) were compared to non-drug user non-smokers (NDU-NS) individually. Specifically proportions, chi-square p-values, and (where appropriate) odds ratios with 95% confidence intervals were calculated to assess characteristics and potential associations of co-morbidities and symptoms of TB among NIDUs HTI TB cases. ^ Results. Significant differences in demographic characteristics and risk factors were found. In addition drug users were found to have a decreased risk for cancer, diabetes mellitus, and chronic pulmonary disease. They were at increased risk of having HIV/AIDS diagnosis, liver disease, and trauma related morbidities. Drug users were more likely to have pulmonary TB disease, and a significantly increased amount of clonally related strains of TB or "clusters" were seen in both smokers and non-smoker drug users when compared to their non-drug user counterparts. Drug users are more likely to belong to print groups (clonally related TB strains with matching spoligotypes) including print one and print three and the Beijing family group, s1. Drug users were found to be no more likely to experience drug resistance to TB therapy and were likely to be cured of disease upon completion of therapy. ^ Conclusion. Drug users demographic and behavioral risk factors put them at an increased risk contracting and spreading TB disease throughout the community. Their increased levels of clustering are evidence of recent transmission and the significance of certain print groups among this population indicate the transmission is from within the social family. For these reasons a focus on this "at risk population" is critical to the success of future public health interventions. Successful completion of directly observed therapy (DOT), the tracking of TB outbreaks and incidence through molecular characterization, and increased diagnostic strategies have led to the stabilization of TB incidence in Houston, Harris County over the past 9 years and proven that the Houston Tuberculosis Initiative has played a critical role in the control and prevention of TB transmission. ^

Regulation of Net1A subcellular localization by the small GTPase Rac1

Activation of Rho family small G proteins is thought to be a critical event in breast cancer development and metastatic progression. Rho protein activation is stimulated by a family of enzymes known as guanine nucleotide exchange factors (Rho GEFs). The neuroepithelioma transforming gene 1 (Net1) is a Rho GEF specific for the RhoA subfamily that is overexpressed in primary breast tumors and breast cancer cell lines. Net1 isoform expression is also required for migration and invasion of breast cancer cells in vitro. These data indicate that Net1 may be a critical regulator of metastatic progression in breast cancer. Net1 activity is negatively regulated by sequestration in the nucleus, and relocalization of Net1 outside the nucleus is required to stimulate RhoA activation, actin cytoskeletal reorganization, and oncogenic transformation. However, regulatory mechanisms controlling the extranuclear localization of Net1 have not been identified. In this study, we have addressed the regulation of Net1A isoform localization by Rac1. Specifically, co-expression of constitutively active Rac1 with Net1A stimulates the relocalization of Net1A from the nucleus to the plasma membrane in breast cancer cells, and results in Net1A activation. Importantly, Net1A localization is also driven by endogenous Rac1 activity. Net1A relocalizes outside the nucleus in cells spreading on collagen, and when endogenous Rac1 expression was silenced by siRNA, Net1A remained nuclear in spreading cells. These data indicate that Rac1 controls the localization of the Net1A isoform and suggests a physiological role for Net1A in breast cancer cell adhesion and motility.

Difusión de ámbitos privilegiados de acumulación en la historia argentina reciente. Intervención económica estatal y comportamiento empresario, 1966-1989

Una mirada atenta sobre la historia argentina reciente muestra con claridad la conjunción de tres fenómenos relacionados: la persistente dificultad para construir un patrón de desarrollo sostenido, el progresivo deterioro de las capacidades y de los niveles de autonomía relativa del Estado y, finalmente, la consolidación de un reducido grupo de grandes empresas. A partir de esta observación, se propone analizar la articulación entre intervención estatal, comportamiento empresario y difusión de ámbitos privilegiados de acumulación, y establecer las consecuencias que la misma generó sobre el perfil y desempeño de las diversas fracciones que componen la cúpula empresaria, entre 1966 y 1989. Dos hipótesis orientan la indagación: 1) la intervención económica estatal y las prácticas empresarias favorecieron la difusión de diversos ámbitos privilegiados de acumulación, y 2) la difusión de los ámbitos permitió la consolidación de una fracción empresaria estrechamente vinculada al funcionamiento del complejo económico estatal-privado.

Difusión de ámbitos privilegiados de acumulación en la historia argentina reciente. Intervención económica estatal y comportamiento empresario, 1966-1989

Una mirada atenta sobre la historia argentina reciente muestra con claridad la conjunción de tres fenómenos relacionados: la persistente dificultad para construir un patrón de desarrollo sostenido, el progresivo deterioro de las capacidades y de los niveles de autonomía relativa del Estado y, finalmente, la consolidación de un reducido grupo de grandes empresas. A partir de esta observación, se propone analizar la articulación entre intervención estatal, comportamiento empresario y difusión de ámbitos privilegiados de acumulación, y establecer las consecuencias que la misma generó sobre el perfil y desempeño de las diversas fracciones que componen la cúpula empresaria, entre 1966 y 1989. Dos hipótesis orientan la indagación: 1) la intervención económica estatal y las prácticas empresarias favorecieron la difusión de diversos ámbitos privilegiados de acumulación, y 2) la difusión de los ámbitos permitió la consolidación de una fracción empresaria estrechamente vinculada al funcionamiento del complejo económico estatal-privado.

Difusión de ámbitos privilegiados de acumulación en la historia argentina reciente. Intervención económica estatal y comportamiento empresario, 1966-1989

Una mirada atenta sobre la historia argentina reciente muestra con claridad la conjunción de tres fenómenos relacionados: la persistente dificultad para construir un patrón de desarrollo sostenido, el progresivo deterioro de las capacidades y de los niveles de autonomía relativa del Estado y, finalmente, la consolidación de un reducido grupo de grandes empresas. A partir de esta observación, se propone analizar la articulación entre intervención estatal, comportamiento empresario y difusión de ámbitos privilegiados de acumulación, y establecer las consecuencias que la misma generó sobre el perfil y desempeño de las diversas fracciones que componen la cúpula empresaria, entre 1966 y 1989. Dos hipótesis orientan la indagación: 1) la intervención económica estatal y las prácticas empresarias favorecieron la difusión de diversos ámbitos privilegiados de acumulación, y 2) la difusión de los ámbitos permitió la consolidación de una fracción empresaria estrechamente vinculada al funcionamiento del complejo económico estatal-privado.

Geochemistry of ODP Leg 127 igneous rocks

Legs 127 and 128 of the Ocean Drilling Program cored basement samples from two sites in the Yamato Basin (Sites 794 and 797) and one site in the Japan Basin (Site 795) of the Japan Sea. These samples represent sills and lava flows erupted or shallowly intruded in a marine environment during backarc extension and spreading in the middle Miocene. In this paper, we describe the geochemical characteristics of these igneous units using 52 new instrumental neutron activation analyses (INAA), 8 new X-ray fluorescence (XRF) analyses, and previous shipboard XRF analyses. The sills intruded into soft sediment at Sites 794 and 797 were subject to extensive hydrothermal activity, estimated at <230° C under subgreenschist facies conditions, which heavily to totally altered the fine-grained unit margins and moderately to heavily altered the coarse-grained unit interiors. Diagenesis further altered the composition of these igneous bodies and lava flows at Sites 794, 795, and 797, most intensely at unit margins. Our study of two well-sampled units shows that Mg, Ca, Sr, and the large-ion lithophile elements (LILE) mobilized during alteration, and that the concentrations of Y, Yb, and Lu decreased and Ce increased in the most severely altered samples. Nevertheless, our study shows that the rare-earth elements (REE) were relatively immobile in the majority of the samples, even where secondary mixed-layer clays comprised the great majority of the rock. Fresher Yamato Basin samples are compositionally heterogenous tholeiitic basalts and dolerites. At Site 794 in the north-central portion of the basin, Units 1 to 5 (upper basement) comprise mildly light rare-earth element (LREE) enriched basalts and dolerites (chondrite-normalized La/Sm of 1.4-1.8), while the stratigraphically lower Units 6 to 9 are less enriched dolerites with (La/Sm)N of 0.7-1.3. All Site 794 samples lack Nb and Ta depletions and LILE enrichments, lacking a strong subduction-related incompatible element geochemical signature. At Site 797 in the western margin of the basin, two stratigraphically-definable unit groups also occur. The upper nine units are incompatible-element depleted tholeiitic sills and flows with strong depletions of Nb and Ta relative to normal mid-ocean ridge basalt (N-MORB). The lower twelve sills represent LREE-enriched tholeiites (normalized La/Sm ranges from 1.1 to 1.8), with distinctly higher LILE and high field-strength element (HFSE) contents. At Site 795 at the northern margin of the Japan Sea, three eruptive units consist of basaltic andesite to calc-alkaline basalt (normalized La/Sm of 1.1 to 1.5) containing moderate depletions of the HFSE relative to N-MORB. The LILE-depleted nature of these samples precludes their origin in a continental arc, indicating that they more likely erupted within a rifting oceanic arc system. The heterogenous nature of the Japan Sea rocks indicate that they were derived at each site from multiple parental magmas generated from a compositionally heterogenous mantle source. Their chemistry is intermediate in character between arc basalts, MORB, and intraplate basalts, and implies little involvement of continental crust at any point in their genesis. Their flat chondrite-normalized, medium-to-heavy rare earth patterns indicate that the primary magmas which produced them last equilibrated with and segregated from spinel lherzolite at shallow depths (<30 kbar). In strong contrast to their isotopic compositional arrays, subduction-related geochemical signatures are usually poorly defined. No basin-wide temporal or geographic systematics of rock chemistry may be confidently detailed; instead, the data show both intimate (site-specific) and widespread backarc mantle heterogeneity over a narrow (2 Ma or so) range in time, with mantle heterogeneity most closely resembling a "plum-pudding" model.

Crowdfunding para la financiación de microproyectos de desarrollo en la República Dominicana

La búsqueda de financiación para proyectos de desarrollo es un tema que siempre debe ir a la vanguardia en el mundo de la cooperación, ya que sin los suficientes recursos es muy difícil lograr la materialización de cualquier ayuda y su futuro seguimiento. La gestión de recursos para proyectos de desarrollo debe ser de carácter solidario, es decir, mientras más se involucren las personas más fuerza, cuerpo y duración tendrá cualquier iniciativa de cooperación. El crowfunding es una herramienta poderosa que funciona por la solidaridad de muchos para lograr ayudar a otros, y esta sensibilización guiada por una buena motivación logra no solo captar recursos sino involucrar a las personas en los proyectos, no solo los beneficiarios sino todo aquel que sienta empatía por ayudar y colaborar forma parte y abraza la iniciativa corriendo la voz a más personas para sumar fuerzas. Seeking funding for development projects is an issue that should always be at the forefront in the world of cooperation, because without sufficient resources is very difficult to achieve the realization of any help and future monitoring. Resource management for development projects should be supportive and participatory, i.e, the more people more strength, enthusiasm, duration and chances of success will involve any cooperation initiative. The Crowdfunding is a powerful tool that works for solidarity of many to get help others, and this awareness guided by a good motivation does involve people in the projects, not only the beneficiaries but anyone who feels empathy for aiding and abetting embracing the initiative and spreading the word to more people to join forces.

Caracterización hidráulica, hidrogeológica y patrimonial de las fuentes públicas naturales de la Comunidad de Madrid : propuesta metodológica para su catalogación

Las fuentes como parte de la ingeniería hidráulica, quizás menor, de nuestro país son elementos urbanos, funcionales y de gran interés en el pasado, que poco a poco han ido en decadencia desde la traída de aguas domiciliares. No obstante, entre nosotros, hay magníficas obras de ingeniería muy bien estudiadas y ejecutadas técnicamente pero que a la par representan elementos artísticos de gran interés y representatividad. No en vano en la última ley de Patrimonio Histórico Artístico de la Comunidad de Madrid (ley 3/2013), se requiere su estudio y catalogación a nivel municipal. La técnica de su diseño, es bien conocida desde muy antiguo. Ya los romanos hacían uso de una precisión milimétrica para el cálculo de las pendientes de las conducciones subterráneas que llevaban el agua intacta hasta su destino tras recorrer decenas de kilómetros sin necesidad de energía externa para ello. La calidad de sus aguas, muy ligada al sustrato determinaba en gran medida asentamientos y usos que según su popularidad, podían incluso restringirse a distintos niveles sociales La obra arquitectónica asociada, también cobraba especial relevancia por su singularidad, monumentalidad y aspecto. Muchas son las tendencias arquitectónicas que se dan cita en las fuentes estudiadas, que además, encierran tras de sí gran riqueza de carácter histórico. Esta investigación se centra en el inventariado, catalogación y caracterización de una muestra representativa de fuentes naturales madrileñas (550 fuentes), el estudio pormenorizado de las variables utilizadas en su caracterización, a través de tratamientos inferenciales, y el diseño experimental “ad hoc” de una propuesta metodológica de catalogación y caracterización 360° (desde la captación hasta la salida de aguas por el caño). La investigación finaliza con la puesta en práctica de la metodología diseñada, a través del estudio, catalogación y caracterización de un caso concreto. La presente investigación se centra en la Comunidad de Madrid, pero la propuesta metodológica que se propone como aportación, es extrapolable a cualquier tipo de fuente en cualquier municipio. Con todo ello, se pretende poner en valor estas obras de ingeniería ignorada, y contribuir de alguna forma a su preservación, facilitando su catalogación y difundiendo su existencia. As a minor relevant part of hydraulic engineering, the fountains of our country are urban, functional and of great interest in the past. The relevancy of these fountains has gradually declined since the emergence of general water supply. However, in our environment, there are magnificent works of engineering very well studied and executed, that also represent good examples of art and historical interest. In this way, the Historical and Artistic Heritage Law of the Community of Madrid (Ley 3/2013), requests the councils, their study and categorization. Their technical design is well known since ancient times. Even the Romans were able to use pinpoint accuracy (just a few millimeters), to calculate the slopes of the underground pipes which supply water, in perfect conditions, to its target, and without using external sources of energy. In this cases, the water quality of which was obviously linked to the type of substrate, conditioned the settlements and even its use, that could be restricted to certain social classes. In some cases, the engineering works of these fountains were especially relevant for its uniqueness, monumentality and appearance. There are many architectural trends that come together in the studied fountains, which also contain of its own historical character. This research is focused on inventory categorization and characterization of a representative sample of 550 natural fountains in Madrid. It includes the detailed study of the variables used in its characterization, through inferential treatments, and the "ad hoc" experimental design of a methodology for the categorization and a 360 ° characterization, from the catchment to the spout. Finally, the research ends with the implementation of the designed methodology, through the study, categorization and characterization of a specific case. Although this research is focused on fountains from Madrid surroundings, the main value is that the purposed methodology can be extrapolated to to manyother cases. To highlight these ignored engineering works, and contribute to its preservation making easier their categorization and spreading their existence, set the main aim of this research.

The leukocyte response to fluid stress

Leukocyte migration from a hemopoietic pool across marrow endothelium requires active pseudopod formation and adhesion. Leukocytes rarely show pseudopod formation while in circulation. At question then is the mechanism that serves to minimize leukocyte pseudopod formation in the circulation. We tested the hypothesis that fluid shear stress acts to prevent pseudopod formation. When individual human leukocytes (neutrophils, monocytes) spreading on glass surfaces in vitro were subjected to fluid shear stress (≈1 dyn/cm2), an instantaneous retraction of pseudopods was observed. Removal of the fluid shear stress in turn led to the return of pseudopod projection and cell spreading. When steady shear stress was prolonged over several minutes, leukocyte swelling occurs together with an enhanced random motion of cytoplasmic granules and a reduction of cytoplasmic stiffness. The response to shear stress could be suppressed by K+ channel blockers and chelation of external Ca2+. In rat mesentery microvessels after occlusion, circulating leukocytes project pseudopods in free suspension or when attached to the endothelium, even though immediately after occlusion only few pseudopods were present. When flow was restored, pseudopods on adhering leukocytes were retracted and then the cells began to roll and detach from the endothelium. In conclusion, plasma shear stress in the circulation serves to reduce pseudopod projection and adhesion of circulating leukocytes and vice versa reduction of shear stress leads to pseudopod projection and spreading of leukocytes on the endothelium.

Asset-backed securities: The key to unlocking Europe's credit markets? Bruegel Policy Contribution 2014/07, 24 July 2014

The European market for asset-backed securities (ABS) has all but closed for business since the start of the economic and financial crisis. ABS (see Box 1) were in fact the first financial assets hit at the onset of the crisis in 2008. The subprime mortgage meltdown caused a deterioration in the quality of collateral in the ABS market in the United States, which in turn dried up overall liquidity because ABS AAA notes were popular collateral for inter-bank lending. The lack of demand for these products, together with the Great Recession in 2009, had a considerable negative impact on the European ABS market. The post-crisis regulatory environment has further undermined the market. The practice of slicing and dicing of loans into ABS packages was blamed for starting and spreading the crisis through the global financial system. Regulation in the post-crisis context has thus been relatively unfavourable to these types of instruments, with heightened capital requirements now necessary for the issuance of new ABS products. And yet policymakers have recently underlined the need to revitalise the ABS market as a tool to improve credit market conditions in the euro area and to enhance transmission of monetary policy. In particular, the European Central Bank and the Bank of England have jointly emphasised that: “a market for prudently designed ABS has the potential to improve the efficiency of resource allocation in the economy and to allow for better risk sharing... by transforming relatively illiquid assets into more liquid securities. These can then be sold to investors thereby allowing originators to obtain funding and, potentially, transfer part of the underlying risk, while investors in such securities can diversify their portfolios... . This can lead to lower costs of capital, higher economic growth and a broader distribution of risk” (ECB and Bank of England, 2014a). In addition, consideration has started to be given to the extent to which ABS products could become the target of explicit monetary policy operations, a line of action proposed by Claeys et al (2014). The ECB has officially announced the start of preparatory work related to possible outright purchases of selected ABS1. In this paper we discuss how a revamped market for corporate loans securitised via ABS products, and how use of ABS as a monetary policy instrument, can indeed play a role in revitalising Europe’s credit market. However, before using this instrument a number of issues should be addressed: First, the European ABS market has significantly contracted since the crisis. Hence it needs to be revamped through appropriate regulation if securitisation is to play a role in improving the efficiency of resource allocation in the economy. Second, even assuming that this market can expand again, the European ABS market is heterogeneous: lending criteria are different in different countries and banking institutions and the rating methodologies to assess the quality of the borrowers have to take these differences into account. One further element of differentiation is default law, which is specific to national jurisdictions in the euro area. Therefore, the pool of loans will not only be different in terms of the macro risks related to each country of origination (which is a ‘positive’ idiosyncratic risk, because it enables a portfolio manager to differentiate), but also in terms of the normative side, in case of default. The latter introduces uncertainties and inefficiencies in the ABS market that could create arbitrage opportunities. It is also unclear to what extent a direct purchase of these securities by the ECB might have an impact on the credit market. This will depend on, for example, the type of securities targeted in terms of the underlying assets that would be considered as eligible for inclusion (such as loans to small and medium-sized companies, car loans, leases, residential and commercial mortgages). The timing of a possible move by the ECB is also an issue; immediate action would take place in the context of relatively limited market volumes, while if the ECB waits, it might have access to a larger market, provided steps are taken in the next few months to revamp the market. We start by discussing the first of these issues – the size of the EU ABS market. We estimate how much this market could be worth if some specific measures are implemented. We then discuss the different options available to the ECB should they decide to intervene in the EU ABS market. We include a preliminary list of regulatory steps that could be taken to homogenise asset-backed securities in the euro area. We conclude with our recommended course of action.