A Tale of Three Countries: Recovery after Banking Crises

Highlights: • Iceland, Ireland and Latvia experienced similar developments before the crisis, such as sharp increases in banks’ balance sheets and the expansion of the construction sector. However the impact of the crisis was different: Latvia was hit harder than any other country in the world. Ireland also suffered heavily, while Iceland came out from the crisis with the smallest fall in employment, despite the greatest shock to the financial system. • There were marked differences in policy mix: currency collapse in Iceland but not in Latvia, letting banks fail in Iceland but not in Ireland, and the introduction of strict capital controls only in Iceland. The speed of fiscal consolidation was fastest in Latvia and slowest in Ireland. • Economic recovery has started in all three countries and there are several encouraging signals. The programme targets in terms of fiscal adjustment, structural reforms and financial reform are on track in all three countries. • Iceland seems to have the right policy mix. • Internal devaluation in Ireland and Latvia through wage cuts did not work, because privatesector wages hardly changed. The productivity increase was significant in Ireland and moderate in Latvia, yet was the result of a greater fall in employment than the fall in output, with harmful social consequences. • The experience with the collapse of the gigantic Icelandic banking system suggests that letting banks fail when they had a faulty business model is the right choice. • There is a strong case for a European banking federation.

Organic carbon accumulation in the South Atlantic Ocean

A compilation of 1118 surface sediment samples from the South Atlantic was used to map modern seafloor distribution of organic carbon content in this ocean basin. Using new data on Holocene sedimentation rates, we estimated the annual organic carbon accumulation in the pelagic realm (>3000 m water depth) to be approximately 1.8*10**12 g C/year. In the sediments underlying the divergence zone in the Eastern Equatorial Atlantic (EEA), only small amounts of organic carbon accumulate in spite of the high surface water productivity observed in that area. This implies that in the Eastern Equatorial Atlantic, organic carbon accumulation is strongly reduced by efficient degradation of organic matter prior to its burial. During the Last Glacial Maximum (LGM), accumulation of organic carbon was higher than during the mid-Holocene along the continental margins of Africa and South America (Brazil) as well as in the equatorial region. In the Eastern Equatorial Atlantic in particular, large relative differences between LGM and mid-Holocene accumulation rates are found. This is probably to a great extent due to better preservation of organic matter related to changes in bottom water circulation and not just a result of strongly enhanced export productivity during the glacial period. On average, a two- to three-fold increase in organic carbon accumulation during the LGM compared to mid-Holocene conditions can be deduced from our cores. However, for the deep-sea sediments this cannot be solely attributed to a glacial productivity increase, as changes in South Atlantic deep-water circulation seem to result in better organic carbon preservation during the LGM.

Geochemistry, chlorin concentrations and diatom abundance in sediments of lake Rotsee, Switzerland

The effects of eutrophication on short term changes in the microbial community were investigated using high resolution lipid biomarker and trace metal data for sediments from the eutrophic Lake Rotsee (Switzerland). The lake has been strongly influenced by sewage input since the 1850s and is an ideal site for studying an anthropogenically altered ecosystem. Historical remediation measures have had direct implications for productivity and microbial biota, leading to community composition changes and abundance shifts. The higher sewage and nutrient input resulted in a productivity increase, which led predominantly to a radiation in diatoms, primary producers and methanogens between about 1918 and 1921, but also affected all microorganism groups and macrophytes between about 1958 and 1972. Bacterial biomass increased in 1933, which may have been related to the construction of a mechanical sewage treatment plant. Biomarkers also allowed tracing of fossil organic matter/biodegraded oil contamination in the lake. Stephanodiscus parvus, Cyclotella radiosa and Asterionella formosa were the dominant sources of specific diatom biomarkers. Since the 1850s, the cell density of methanogenic Archaea (Methanosaeta spp.) ranged within ca. 0.5-1.8 x 10**9 cells/g dry sediment and the average lipid content of Rotsee Archaea was ca. 2.2 fg iGDGTs/cell. An altered BIT index (BITCH), indicating changes in terrestrial organic matter supply to the lake, is proposed.

Stable carbon and oxygen isotope ratios of foraminifera from Cretaceous and Paleocene sediments

Detailed analysis of over 200 samples of uppermost Cretaceous and Paleocene sediments from Atlantic Ocean DSDP Sites 384, 86, 95, 152, 144, 20C, 21, 356, 357, and 329 provides new information on the temperature stratification of Paleocene planktonic foraminifera, the temperature and carbon isotopic changes across the Cretaceous/Tertiary boundary, and the fluctuating temperature and carbon isotopic records through the Paleocene ~64.5-54 m.y.). There was a significant temperature rise across the Cretaceous/Tertiary boundary both at the surface and in deep waters of the Atlantic Ocean. This temperature rise occurred before the basal Tertiary 'Globigerina' eugubina Zone, so that in the oldest Paleocene sample yet analyzed from the deep sea (Site 356) temperatures are already three degrees higher at the bottom and at the surface than in the Cretaceous. The temperature rise across the boundaryis more pronounced on the bottom and in samples from higher latitudes. Accompanying the temperature rise across the boundary there is a significant shift in the carbon isotope profile. In the basal Paleocene the foraminifera of the surface zone demonstrate very negative carbon isotope values (unlike in the Cretaceous of today's ocean), while deeper dwelling species have more positive values which then decrease to the bottom. The unusual carbon isotope gradients persist through the first three million years of the Paleocene until towards the top of planktonic foraminiferal Zone P.1 (G. trinidadensis Zone) the foraminifera record a profile more positive at the surface and decreasing towards the bottom (as in today's ocean). During the Paleocene there are two noteworthy rises in surface water temperature; the first around 62-61 m.y. (G. trinidadensis Zone), and the second near the base of the Globorotalia angulata Zone, 60-59 m.y. At this time surface temperatures at low to mid latitudes reached values near 25°C, while at mid-latitude Site 384 temperature highs near 22°C were registered. At a sample spacing of around one per million years, we have only produced some of the detail of these temperature fluctuations. The later Paleocene is generally cooler and there do not seem to be any large variations either through time or latitude. Middle-latitude sites average temperatures near 15°C at the surface, while high lower latitude site temperatures range near 18°C. The most salient feature of the bottom temperature record (based on multispecific samples) through the Paleocene is its lack of fluctuations. There is an overall temperature range of 5°C at these intermediate depth sites (paleodepth estimates between 1500 and 3000 m). Higher values near 13°C accompany the surface temperature peaks around 62 and 60 m.y., while low values near 8°C occur in Zone P.2 (61-60 m.y.). We detected no change in bottom temperature across the paleocene/Eocene boundary in the few samples studied so far. While there are several fluctuations in the carbon isotope values through the early Paleocene, the general trend is one of increasingly positive values at the surface and at depth. This trend culminates in the late Paleocene (upper Zone P.4, about 56-57 m.y.) with a major excursion in the carbon isotope values. At low latitudes the range between the surface and the deepest planktonic foraminifera is a delta13C of 4 per mil as compared with a range of 2 per mil today. The carbon values drop off slightly, but remain strongly positive through the remainder of the Paleocene at most sites. Accompanying the carbon isotope excursion at Site 384 is a productivity increase and a proposed rise in the CCD.

(Table S1) Age determination ofs ediment cores of the Azores Current System

In order to test the sensitivity of marine primary productivity in the midlatitude open ocean North Atlantic to changes in the Atlantic Meridional Overturning Circulation (AMOC), we investigated two spliced sediment cores from a site south of the Azores Islands at the northern rim of the North Atlantic subtropical gyre. For this purpose we analyzed coccolithophore assemblages, diatom abundances, alkenones and conducted X-ray fluorescence (XRF) core scanning. During times of reduced AMOC, especially during Heinrich event 1 (H1) and the Younger Dryas, we observe a strong increase in productivity as evidenced by high coccolith accumulation rates, high alkenone concentrations/accumulation rates, high Ba/Ti-ratios, high abundances of diatoms and low abundances ofF. profunda. The increased productivity is partly caused by a more southern position of the Azores Front (AzF), and hence by a less northward extension of the subtropical gyre, as deduced from high abundances of the temperate coccolithophore species G. muellerae and low abundances of subtropical species (Oolithotus spp., Umbellosphaera spp., Umbilicosphaeraspp.). However, to explain the full range of the observed productivity increase, other factors like increased westerly winds and advection of nutrient-rich surface waters have also to be considered. Because this pattern can also be observed in other sediment cores from the midlatitude North Atlantic, we propose that during times of reduced AMOC there has been a band of strongly increased productivity across the North Atlantic at the northern rim of the contracted subtropical gyre, which partly counteracts the decreased organic carbon pump in the high northern latitudes.

A multi-sectoral version of the Post-Keynesian growth model

Neste artigo, pretende-se desenvolver uma versão desagregada da abordagem pós-Keynesiana para o crescimento econômico, mostrando que de fato esse modelo pode ser tratado como um caso particular do modelo Pasinettiano de mudança estrutural e crescimento econômico. Utilizando-se o conceito de integração vertical, torna-se possível conduzir a análise iniciada por Kaldor (1956) e Robinson (1956, 1962), e seguido por Dutt (1984), Rowthorn (1982) e, posteriormente, Bhaduri e Marglin (1990) em um modelo multi-sectorial em que há aumentos da demanda e produtividade em ritmos diferentes em cada setor. Ao adotar essa abordagem, é possível mostrar que a dinâmica de mudança estrutural está condicionada não apenas aos padrões de demanda de evolução das preferências e da difusão do progresso tecnológico, mas também com as características distributivas da economia, que podem dar origem a diferentes regimes setoriais de crescimento econômico. Além disso, é possível determinar a taxa natural de lucro que faz com que a taxa de mark-up seja constante ao longo do tempo. _________________________________________________________________________________ ABSTRACT

Cirurgia e clínica de espécies pecuárias

Neste relatório são, primeiramente, descritas as atividades desenvolvidas durante o Estágio Curricular do Mestrado Integrado em Medicina Veterinária da Universidade de Évora, no âmbito de clínica e cirurgia de espécies pecuárias. Pretendeu-se, depois, determinar se a suplementação de bovinos de aptidão leiteira com β-caroteno injetável contribui para reduzir o número de inseminações artificiais necessárias para uma gestação. Por outro lado avaliou-se a influência que podem ter algumas variáveis, como sejam a estação do ano ou o número de partos da vaca. Procurou-se, ainda, estudar a evolução dos teores séricos de β-caroteno nos animais suplementados e não suplementados com Dalmafertyl®, utilizando a técnica de cromatografia líquida de alta eficácia ultravioleta. A suplementação parenteral de β-caroteno, nomeadamente com Dalmafertyl®, na Primavera, mostra resultados benéficos na reprodução de vacas e novilhas de aptidão leiteira, aumentando a produtividade e diminuindo custos; ABSTRACT: LARGE ANIMAL SURGERY AND CLINICS On the following report are described the activities that took place during the Curricular Externship as part of the Veterinary Medicine Integrated Masters from University of Évora, in large animal surgery and clinics. Also, it was intended to determine if injectable β-carotene supplementation on dairy cattle can be a decreasing factor on the artificial insemination number needed to result in pregnancy. On the other hand, it was assessed its influence on some variables that can affect pregnancy, such as seasons and calving number. It has been studied the evolution of β-carotene serum levels on Dalmafertyl® supplemented and non-supplemented animals using the high-performance liquid chromatography ultraviolet detection method, as well. β-carotene parenteral supplementation using Dalmafertyl® seems to have benefic results on dairy cattle reproduction when it comes to Spring, which leads to productivity increase and cost decrease

Diverse urban plantings managed with sufficient resource availability can increase plant productivity and arthropod diversity

Buildings structures and surfaces are explicitly being used to grow plants, and these “urban plantings” are generally designed for aesthetic value. Urban plantings also have the potential to contribute significant “ecological values” by increasing urban habitat for animals such as arthropods and by increasing plant productivity. In this study, we evaluated how the provision of these additional ecological values is affected by plant species richness; the availability of essential resources for plants, such as water, light, space; and soil characteristics. We sampled 33 plantings located on the exterior of three buildings in the urban center of Brisbane, Australia (subtropical climatic region) over 2, 6 week sampling periods characterized by different temperature and rainfall conditions. Plant cover was estimated as a surrogate for productivity as destructive sampling of biomass was not possible. We measured weekly light levels (photosynthetically active radiation), plant CO2 assimilation, soil CO2 efflux, and arthropod diversity. Differences in plant cover were best explained by a three-way interaction of plant species richness, management water regime and sampling period. As the richness of plant species increased in a planter, productivity and total arthropod richness also increased significantly—likely due to greater habitat heterogeneity and quality. Overall we found urban plantings can provide additional ecological values if essential resources are maintained within a planter such as water, light and soil temperature. Diverse urban plantings that are managed with these principles in mind can contribute to the attraction of diverse arthropod communities, and lead to increased plant productivity within a dense urban context.

Increase water use efficiency and productivity, and reduce energy and water usage and costs, of dairy and fodder enterprises, to reduce costs of milk production

Increase water use efficiency and productivity, and reduce energy and water usage and costs, of dairy and fodder enterprises, to reduce costs of milk production.

Feeding to increase productivity and reduce greenhouse gas emissions

Feeding to increase productivity and reduce greenhouse gas emissions.

Kangaroo bacteria to reduce methane emissions and increase productivity

Using kangaroo bacteria to reduce emissions of methane and increase productivity.

Diverse urban plantings managed with sufficient resource availability can increase plant productivity and arthropod diversity

Buildings structures and surfaces are explicitly being used to grow plants, and these "urban plantings" are generally designed for aesthetic value. Urban plantings also have the potential to contribute significant "ecological values" by increasing urban habitat for animals such as arthropods and by increasing plant productivity. In this study, we evaluated how the provision of these additional ecological values is affected by plant species richness; the availability of essential resources for plants, such as water, light, space; and soil characteristics. We sampled 33 plantings located on the exterior of three buildings in the urban center of Brisbane, Australia (subtropical climatic region) over 2, 6 week sampling periods characterized by different temperature and rainfall conditions. Plant cover was estimated as a surrogate for productivity as destructive sampling of biomass was not possible. We measured weekly light levels (photosynthetically active radiation), plant CO2 assimilation, soil CO2 efflux, and arthropod diversity. Differences in plant cover were best explained by a three-way interaction of plant species richness, management water regime and sampling period. As the richness of plant species increased in a planter, productivity and total arthropod richness also increased significantly likely due to greater habitat heterogeneity and quality. Overall we found urban plantings can provide additional ecological values if essential resources are maintained within a planter such as water, light and soil temperature. Diverse urban plantings that are managed with these principles in mind can contribute to the attraction of diverse arthropod communities, and lead to increased plant productivity within a dense urban context.

Job Training Partnership Act : summer youth programs increase emphasis on education : briefing report to the chairman, Subcommittee on Employment and Productivity, Committee on Labor and Human Resources, United States Senate /

"B-224035"--Prelim. p.