The Discipline of Economics and Economic Cycles

In This Article, It Is Argued That the Long International, Financial and Economic Cycle (50-60 Years) Is More Than a Statistical Aberration, and Is the Result of Institutional Political, Financial and Economic Conditions Which Are Recurrent. It Is Proposed As an Hypothesis That the Breakdown of International Monetary Systems Is At the Origin of Hte Financial and Economic Long Cycle. Such a Breakdown Starts a Process of Unexpected Inflation, of Balance of Payments Imbalances and of International Indebtedness in a Key-Currency. the Last Stage of This Process Is Characterized by Disinflation, a Speculative Stock Market Boom and a Period of Debt-Liquidation Which Negatively Affect the Real Side of the Economy. Without an International and Automatic Mechanism to Correct the Financial and Economic International Imbalances, the World Economy Runs the Risk of Getting More and More Unstable Until the Turning Point. International Monetary Cooperation Could Contribute in Alleviating the Negative Spillovers Accompanying Hte Adjustment of These Imbalances.

Characterization of polycystin-1 in ADPKD pathogenetic mechanism : biogenesis and functional implications by genetic approaches in mouse

La polykystose rénale autosomique dominante (ADPKD) est une des maladies génétiques les plus communes. ADPKD se manifeste le plus souvent au stade adulte par la présence de kystes rénaux, et bien souvent de kystes hépatiques, avec une progression très variable. ADPKD mène à une insuffisance rénale: les seuls recours sont la dialyse puis la transplantation rénale. Les mutations dispersées sur les gènes PKD1 (majoritairement; la protéine polycystine-1, PC1) et PKD2 (la protéine polycystine-2, PC2) sont responsables de l’ADPKD. Le mécanisme pathogénétique de perte de fonction (LOF) et donc d’un effet récessif cellulaire est évoqué comme causatif de l’ADPKD. LOF est en effet supporté par les modèles murins d’inactivation de gènes PKD1/PKD2, qui développent de kystes, quoique in utéro et avec une rapidité impressionnante dans les reins mais pas dans le foie. Malgré de nombreuses études in vitro, le rôle de PC1/PC2 membranaire/ciliaire reste plutôt hypothétique et contexte-dépendant. Ces études ont associé PC1/PC2 à une panoplie de voies de signalisation et ont souligné une complexité structurelle et fonctionnelle exceptionnelle, dont l’implication a été testée notamment chez les modèles de LOF. Toutefois, les observations patho-cellulaires chez l’humain dont une expression soutenue, voire augmentée, de PKD1/PC1 et l’absence de phénotypes extrarénaux particuliers remet en question l’exclusivité du mécanisme de LOF. Il était donc primordial 1) d’éclaircir le mécanisme pathogénétique, 2) de générer des outils in vivo authentiques d’ADPKD en terme d’initiation et de progression de la maladie et 3) de mieux connaitre les fonctions des PC1/PC2 indispensables pour une translation clinique adéquate. Cette thèse aborde tous ces points. Tout d’abord, nous avons démontré qu’une augmentation de PKD1 endogène sauvage, tout comme chez l’humain, est pathogénétique en générant et caractérisant en détail un modèle murin transgénique de Pkd1 (Pkd1TAG). Ce modèle reproduit non seulement les caractéristiques humaines rénales, associées aux défauts du cil primaire, mais aussi extrarénales comme les kystes hépatiques. La sévérité du phénotype corrèle avec le niveau d’expression de Pkd1 ce qui supporte fortement un modèle de dosage. Dans un deuxième temps, nous avons démontré par les études de complémentations génétiques que ces deux organes reposent sur une balance du clivage GPS de Pc1, une modification post-traductionelle typique des aGPCR, et dont l’activité et l’abondance semblent strictement contrôlées. De plus, nous avons caractérisé extensivement la biogénèse de Pc1 et de ses dérivés in vivo générés suite au clivage GPS. Nous avons identifié une toute nouvelle forme et prédominante à la membrane, la forme Pc1deN, en plus de confirmer deux fragments N- et C-terminal de Pc1 (NTF et CTF, respectivement) qui eux s’associent de manière non-covalente. Nous avons démontré de façon importante que le trafic de Pc1deN i.e., une forme NTF détachée du CTF, est toutefois dépendant de l’intégrité du fragment CTF in vivo. Par la suite, nous avons généré un premier modèle humanisant une mutation PKD1 non-sens tronquée au niveau du domaine NTF(E3043X) en la reproduisant chez une souris transgénique (Pkd1extra). Structurellement, cette mutation, qui mimique la forme Pc1deN, s’est également avérée causative de PKD. Le modèle Pkd1extra a permis entre autre de postuler l’existence d’une cross-interaction entre différentes formes de Pc1. De plus, nos deux modèles murins sont tous les deux associés à des niveaux altérés de c-Myc et Pc2, et soutiennent une implication réelle de ces derniers dans l’ADPKD tou comme une interaction fonctionnelle entre les polycystines. Finalement, nous avons démontré un chevauchement significatif entre l’ADPKD et le dommage rénal aigüe (ischémie/AKI) dont une expression augmentée de Pc1 et Pc2 mais aussi une stimulation de plusieurs facteurs cystogéniques tel que la tubérine, la β-caténine et l’oncogène c-Myc. Nos études ont donc apporté des évidences cruciales sur la contribution du gène dosage dans l’ADPKD. Nous avons développé deux modèles murins qui serviront d’outil pour l’analyse de la pathologie humaine ainsi que pour la validation préclinique ADPKD. L’identification d’une nouvelle forme de Pc1 ajoute un niveau de complexité supplémentaire expliquant en partie une capacité de régulation de plusieurs voies de signalisation par Pc1. Nos résultats nous amènent à proposer de nouvelles approches thérapeutiques: d’une part, le ciblage de CTF i.e., de style chaperonne, et d’autre part le ciblage de modulateurs intracellulaires (c-Myc, Pc2, Hif1α). Ensemble, nos travaux sont d’une importance primordiale du point de vue informatif et pratique pour un avancement vers une thérapie contre l’ADPKD. Le partage de voies communes entre AKI et ADPKD ouvre la voie aux approches thérapeutiques parallèles pour un traitement assurément beaucoup plus rapide.

Neurotransmitters Functional Balance in Neurodegenerative Disease Management:recent Advances

The recent developments in neurobiology have rendered new prominence and potential to study about the structure and function of brain and related disorders. Human behaviour is the net result of neural control of the communication between brain cells. Neurotransmitters are chemicals that are used to relay, amplify and modulate electrical signals between neurons and/or another cell. It mediates rapid intercellular communication through the nervous system by interacting with cell surface receptors. These receptors often trigger second messenger signaling pathways that regulate the activity of ion channels. The functional balance of different neurotransmitters such as Acetylcholine (Ach), Dopamine (DA), Serotonin (5-HT), Norepinephrine (NE), Epinephrine (EPI), Glutamate and Gamma amino butyric acid (GABA) regulates the growth, division and other vital functions of a normal cell / organism (Sudha, 1998). Any change in neurotransmitters' functional balance will result in the failure of cell function and may lead to the occurrence of diseases. Abnormalities in the production or functioning of neurotransmitters have been implicated in a number of neurological disorders like Schizophrenia, Alzheimer's, Epilepsy, Depression and Parkinson's disease. Changes in central and peripheral neuronal signaling system is also noted in diabetes, cancer, cell proliferation, alcoholism and aging. Elucidation of neurotransmitters receptor interaction pathways and gene expression regulation by second messengers and transcriptional factors in health and disease conditions can lead to new small molecules for development of therapeutic agents to improve neurological disease conditions. Increased awareness of the global effects of neurological disorders should help health care planners and the neurological community set appropriate priorities in research, prevention, and management of these diseases.

Characterization of polyhydroxyalkanoates accumulating vibrios from marine benthic environments and production studies of polyhydroxyalkanoates by Vibrio sp. BTKB33

The present work deals with the characterization of polyhydroxyalkanoates accumulating vibrios from marine benthic environments and production studies of polyhydroxyalkanoates by vibrio sp.BTKB33. Vibrios are a group of (iram negative, curved or straight motile rods that normally inhabit the aquatic environments.The present study therefore aimed at evaluating the occurrence of PHA accumulating vibrios inhabiting marine benthic environments; characterizing the potential PHA accumulators employing phenotypic and genotypic approaches and molecular characterization of the PHA synthase gene. The study also evaluated the PHA production in V:'hri0 sp. strain BTKB33, through submerged fennentation using statistical optimization and characterized the purified biopolymer. Screening for PHA producing vibrios from marine benthic environments. Characterization of PHA producers employing phenotypic and genotypic approaches.The incidence of PHA accumulation in Vibrio sp. isolated from marine sediments was observed to be high, indicating that the natural habitat of these bacteria are stressful. Considering their ubiquitous nature, the ecological role played by vibrios in maintaining the delicate balance of the benthic ecosystem besides returning potential strains, with the ability to elaborate a plethora of extracellular enzymes for industrial application, is significant. The elaboration of several hydrolytic enzymes by individuals also emphasize the crucial role of vibrios in the mineralization process in the marine environment. This study throws light on the extracellular hydrolytic enzyme profile exhibited by vibrios. It was concluded that apart from the PHA accumulation, presence of exoenzyme production and higher MAR index also aids in their survival in the highly challenging benthic enviromnents. The phylogenetic analysis of the strains and studies on intra species variation within PHA accumulating strains reveal their diversity. The isolate selected for production in this study was Vibrio sp. strain BTKB33, identified as V.azureus by 16S rDNA sequencing and phenotypic characterization. The bioprocess variables for PHA production utilising submerged fermentation was optimized employing one-factor-at-a-time-method, PB design and RSM studies. The statistical optimization of bioprocess variables revealed that NaCl concentration, temperature and incubation period are the major bioprocess variables influencing PHA production and PHA content. The presence of Class I PHA synthase genes in BTKB33 was also unveiled. The characterization of phaC genes by PCR and of the extracted polymer employing FTIR and NMR analysis revealed the presence of polyhydroxybutyrate, smallest known PI-IAs, having wider domestic, industrial and medical application. The strain BTKB33 bearing a significant exoenzyme profile, can thus be manipulatedin future for utilization of diverse substrates as C- source for PHA production. In addition to BTKB33, several fast growing Vibrio sp. having PHA accumulating ability were also isolated, revealing the prospects of this environment as a mine for novel PHA accumulating microbes. The findings of this study will provide a reference for further research in industrial production of PHAs from marine microorganisms .

Influence of short term climatic fluctuations on the agricultural land use in Kerala

In the present study, the land use over Kerala State and its spatial and temporal variations, spatio-temporal variations of water budget elements, climatic shifts, incidence of droughts and the influence of inter-annual fluctuations of rainfall on area. production and yield of selected crops, have been studied in detail. The thesis consists of seven chapters including the introduction. The first section of the Second Chapter deals with the importance of agrocliinatological studies in general and its application in agricultural land use in particular. It also gives an overview of the short term climatic fluctuations, water balance studies, crop weather relationships, land use patterns and various agricultural indices. This includes a detailed review of available literature in this field. The basic concepts. data used and the methodology adopted in the study forms, the second section of this Chapter. The Third Chapter gives the details of the physical features of the State such as the relief, geology, geomorphologysoils, drainage, and vegetation. The agroclimatology of the State is discussed in detail in Chapter Four. The first Section presents annual and seasonal variations of temperature and rainfall of the State along with a discussion on the water balance of the State. The secondSection of this Chapter deals with the influence of rainfall and water balance elements on various crops. The district-wise general land use pattern of theState and its spatio-temporal variations are discussed in Chapter Five. The first Section of Chapter Six gives an overview of the agricultural land use pattern of the State, cropping patterns, cropping intensity, crop combination and their spatio-temporal variations. The inter-annual variability of water balances of various stations of the State computed using the method of Thornthwaite (1948) and Thornthwaite & Mather (1955) is presented in the second Section of Chapter Six. This also includes a discussion of how the climatic shifts have occurred over the State and the influence of variations of climatic and water balance elements on the crops. The Seventh Chapter gives the summary of the work carried out and the results obtained from the study. Interpretations of the results, conclusions and suggestions made,based on the observations of the study are incorporated in this Chapter.

Curing studies of elastomer blends with special reference to NR/ NBR and NR/BR blends

There are a large number of commercial examples and property advantages of immiscible elastomer blends.73 Blends of natural rubber (NR) and polybutadiene (BR) have shown various advantages including heat stability, improved elasticity and abrasion resistance. Ethylene-propylene-diene-rubber (EPDM) blended with styrene-butadiene rubber (SBR) has shown improvements in ozone and chemical resistance with better compression set properties. Blends of EPDM and nitrile rubber (NBR) have been cited as a compromise for obtaining moderate oil and ozone resistance with improved low temperature properties. Neoprene (CR)/BR blends offer improved low temperature properties and abrasion resistance with better processing characteristics etc. However, in many of the commercial two-phase elastomer blends, segregation of the crosslinking agents, carbon black or antioxidants preferentially into one phase can result in failure to attain optimum properties. Soluble and insoluble compounding ingredients are found to be preferentially concentrated in one phase. The balance of optimum curing of both phases therefore presents a difficult problem. It has been the aim of this study to improve the performance of commercially important elastomer blends such as natural rubber (NR)/styrene-butadiene rubber (SBR) and natural rubber/polybutadiene rubber (BR) by industrially viable procedures

Self-Assembly of Stimuli-Responsive Water-Soluble [60]Fullerene End-Capped Ampholytic Block Copolymer

Well-defined, water-soluble, pH and temperature stimuli-responsive [60]fullerene (C₆₀) containing ampholytic block copolymer of poly((methacrylic acid)-block-(2-(dimethylamino)ethyl methacrylate))-block–C₆₀ (P(MAA-b-DMAEMA)-b-C₆₀) was synthesized by the atom transfer radical polymerization (ATRP) technique. The self-assembly behaviour of the C₆₀ containing polyampholyte in aqueous solution was characterized by dynamic light scattering (DLS), and transmission electron microscopy. This amphiphilic mono-C₆₀ end-capped block copolymer shows enhanced solubility in aqueous medium at room and elevated temperatures and at low and high pH but phase-separates at intermediate pH of between 5.4 and 8.8. The self assembly of the copolymer is different from that of P(MAA-b-DMAEMA). Examination of the association behavior using DLS revealed the co-existence of unimers and aggregates at low pH at all temperatures studied, with the association being driven by the balance of hydrophobic and electrostatic interactions. Unimers and aggregates of different microstructures are also observed at high pH and at temperatures below the lower critical solution temperature (LCST) of PDMAEMA. At high pH and at temperatures above the LCST of PDMAEMA, the formation of micelles and aggregates co-existing in solution is driven by the combination of hydrophobic, electrostatic, and charge-transfer interactions.

Towards economic and monetary union: changing trends in payment systems for new european members

The objective of this paper is precisely to study the evolution of payment systems within the accession countries between 1996 and 2003 and compare them with those of the E.U. and the Eurozone countries

European payment system and monetary union

We make a comparative study of payment systems for E.U. -fifteen countries for the 1996-2002 period. Special attention is paid to the introduction of the new European single currency. The overall trend in payments is for a move from cash to noncash payment instruments, although electronic instruments are not widely used yet. We find a significant impact from the introduction of the new banknotes and coins on card use

De lo micro a lo macro prudencial: Un análisis de la supervisión bancaria desde la econometría espacial

La crisis que se desató en el mercado hipotecario en Estados Unidos en 2008 y que logró propagarse a lo largo de todo sistema financiero, dejó en evidencia el nivel de interconexión que actualmente existe entre las entidades del sector y sus relaciones con el sector productivo, dejando en evidencia la necesidad de identificar y caracterizar el riesgo sistémico inherente al sistema, para que de esta forma las entidades reguladoras busquen una estabilidad tanto individual, como del sistema en general. El presente documento muestra, a través de un modelo que combina el poder informativo de las redes y su adecuación a un modelo espacial auto regresivo (tipo panel), la importancia de incorporar al enfoque micro-prudencial (propuesto en Basilea II), una variable que capture el efecto de estar conectado con otras entidades, realizando así un análisis macro-prudencial (propuesto en Basilea III).

Análisis de perdurabilidad de las empresas que se acogieron a la ley 550 de 1999

A finales del Siglo XX, Colombia se encontraba en un escenario bastante complicado en relación con la situación del país en años anteriores. Todo esto, debido a que el país se vio afligido por una serie de situaciones adversas: el desempleo, la violencia y catástrofes naturales, fueron una de las muchas cosas que generaron un grave periodo de recesión en el país. Frente a estos desafortunados acontecimientos, y en búsqueda de propiciar y fortalecer la economía del país, el Gobierno decide en su momento, intervenir en la economía local, principalmente en el Sector Privado, con el fin de normalizar la actividad productiva del país en todos los sectores económico. Para esto, el Gobierno en conjunto con la Superintendencia de Sociedades y teniendo en cuenta la devaluación de la moneda, las altas tasas de interés que existían en ese entonces, y, la disminución de la demanda, deciden desarrollar mecanismos de conciliación tanto para los deudores como para los acreedores con el fin de reactivar la economía y mejorar la situación financiera y contable del sector productivo y de servicios, con el fin de superar la crisis en la que se encontraban sumergidos en ese entonces. La ley 550, constituida en el año 1999 y también conocida como la Ley de Insolvencia Económica, otorgo herramientas para la reestructuración de empresas que decidieron acogerse a dicha ley, a un total de 1.323 empresas que se encontraban en proceso de liquidación. Para poder acceder a este proceso de reestructuración, además de cumplir con ciertos requisitos que se mencionaran posteriormente, las empresas que podían acceder a esta ley, debían encontrarse en mora en el pago de 2 o más obligaciones por un periodo mayor a noventa días, o, se debían encontrar envueltas en por lo menos 2 demandas ejecutivas por mora en el pago de cualquier deuda adquirida en nombre de dichas empresas.

The effects of information and communication technologies on the banking sector and the payments system

This dissertation studies the effects of Information and Communication Technologies (ICT) on the banking sector and the payments system. It provides insight into how technology-induced changes occur, by exploring both the nature and scope of main technology innovations and evidencing their economic implications for banks and payment systems. Some parts in the dissertation are descriptive. They summarise the main technological developments in the field of finance and link them to economic policies. These parts are complemented with sections of the study that focus on assessing the extent of technology application to banking and payment activities. Finally, it includes also some work which borrows from the economic literature on banking. The need for an interdisciplinary approach arises from the complexity of the topic and the rapid path of change to which it is subject. The first chapter provides an overview of the influence of developments in ICT on the evolution of financial services and international capital flows. We include main indicators and discuss innovation in the financial sector, exchange rates and international capital flows. The chapter concludes with impact analysis and policy options regarding the international financial architecture, some monetary policy issues and the role of international institutions. The second chapter is a technology assessment study that focuses on the relationship between technology and money. The application of technology to payments systems is transforming the way we use money and, in some instances, is blurring the definition of what constitutes money. This chapter surveys the developments in electronic forms of payment and their relationship to the banking system. It also analyses the challenges posed by electronic money for regulators and policy makers, and in particular the opportunities created by two simultaneous processes: the Economic and Monetary Union and the increasing use of electronic payment instruments. The third chapter deals with the implications of developments in ICT on relationship banking. The financial intermediation literature explains relationship banking as a type of financial intermediation characterised by proprietary information and multiple interactions with customers. This form of banking is important for the financing of small and medium-sized enterprises. We discuss the effects of ICT on the banking sector as a whole and then apply these developments to the case of relationship banking. The fourth chapter is an empirical study of the effects of technology on the banking business, using a sample of data from the Spanish banking industry. The design of the study is based on some of the events described in the previous chapters, and also draws from the economic literature on banking. The study shows that developments in information management have differential effects on wholesale and retail banking activities. Finally, the last chapter is a technology assessment study on electronic payments systems in Spain and the European Union. It contains an analysis of existing payment systems and ongoing or planned initiatives in Spain. It forms part of a broader project comprising a series of country-specific analyses covering ten European countries. The main issues raised across the countries serve as the starting point to discuss implications of the development of electronic money for regulation and policies, and in particular, for monetary-policy making.

''Cashless'' transactions : perceptions of money in mobile payments

A limited number of ‘cashless transaction’ studies addressed the issue that the mode of payment affects perceptions of money and purchase behaviour, the majority of the research is in the area of the credit card payment mode. Credit card based research has shown that when a credit card based payment is used, the volume, value and type of products purchased increase. Whether this is due to the credit element or to the ‘cashless or mobile’ element of the transaction is not known. The notion that the tangibility of cash influences perceptions of money is not novel, but it is untested. This discussion paper suggests that under conditions of cash, there is awareness (conscious/unconscious) that a possession of value transferred and this perception may well have a direct impact on people’s perception of money and their spending behaviour.

Relaciones comerciales Ecuador-Brasil: un tablero sin alfiles (Tema Central)

Este artículo analiza la relación comercial de Ecuador con Brasil, la cual ha vivido prácticamente tres años de inmovilidad o “tiempo de reposo”, como lo calificó la excanciller ecuatoriana, María Isabel Salvador, el 16 de octubre de 2008, luego que el presidente Rafael Correa expulsara, a través de Decreto Ejecutivo, a la constructora brasileña Norberto Odebrecht.3 La justificación para esta acción fue que aproximadamente a un año de la terminación de los trabajos de Odebrecht en la central hidroeléctrica San Francisco se produjo una serie de daños en la misma, con la consecuente crisis energética. El gobierno del Ecuador responsabilizó al consorcio brasileño de una deficiente labor técnica en la construcción de la central hidroeléctrica lo que ocasionó su paralización por varios meses y la consecuente interrupción de la producción y suministro de energía eléctrica en el territorio ecuatoriano.

The post-Lisbon role of the European Parliament in the EU's Common Commercial Policy: Implications for bilateral trade negotiations. EU Diplomacy Paper 05/2012, July 2012

This paper sets out to conduct an empirical analysis of the post-Lisbon role of the European Parliament (EP) in the EU’s Common Commercial Policy through an examination of the ‘deep and comprehensive’ bilateral Free Trade Agreements (FTAs) currently negotiated as part of the EU’s Global Europe strategy. The EU-Korea and EU-India FTAs are used as case studies in order to determine the implications of the EP’s enhanced trade powers on the processes, actors and outcomes of EU bilateral trade policy. The EP is now endowed with the ‘hard power’ of consent in the ratification phase of FTAs, acting as a threat to strengthen its ‘soft power’ to influence negotiations. The EP is developing strategies to influence the mandate and now plays an important role in the implementation of FTAs. The entry of this new player on the Brussels trade policy field has brought about a shift in the institutional balance of power and opened up the EP as a new point of access for trade policy lobbyists. Finally, increased EP involvement in EU trade policy has brought about a politicisation of EU trade policy and greater normative outcomes of FTAs.