Off-the-Record Target Zones: Theory with an Application to Hong Kongs Currency Board

This paper provides a modelling framework for evaluating the exchange rate dynamics of a target zone regime with undisclosed bands. We generalize the literature to allow for asymmetric one-sided regimes. Market participants' beliefs concerning an undisclosed band change as they learn more about central bank intervention policy. We apply the model to Hong Kong's one-sided currency board mechanism. In autumn 2003, the Hong Kong dollar appreciated from close to 7.80 per US dollar to 7.70, as investors feared that the currency board would be abandoned. In the wake of this appreciation, the monetary authorities finally revamped the regime as a symmetric two-sided system with a narrow exchange rate band.

Prospective randomized study of doxorubicin-eluting-bead embolization in the treatment of hepatocellular carcinoma: results of the PRECISION V study.

Transcatheter arterial chemoembolization (TACE) offers a survival benefit to patients with intermediate hepatocellular carcinoma (HCC). A widely accepted TACE regimen includes administration of doxorubicin-oil emulsion followed by gelatine sponge-conventional TACE. Recently, a drug-eluting bead (DC Bead) has been developed to enhance tumor drug delivery and reduce systemic availability. This randomized trial compares conventional TACE (cTACE) with TACE with DC Bead for the treatment of cirrhotic patients with HCC. Two hundred twelve patients with Child-Pugh A/B cirrhosis and large and/or multinodular, unresectable, N0, M0 HCCs were randomized to receive TACE with DC Bead loaded with doxorubicin or cTACE with doxorubicin. Randomization was stratified according to Child-Pugh status (A/B), performance status (ECOG 0/1), bilobar disease (yes/no), and prior curative treatment (yes/no). The primary endpoint was tumor response (EASL) at 6 months following independent, blinded review of MRI studies. The drug-eluting bead group showed higher rates of complete response, objective response, and disease control compared with the cTACE group (27% vs. 22%, 52% vs. 44%, and 63% vs. 52%, respectively). The hypothesis of superiority was not met (one-sided P = 0.11). However, patients with Child-Pugh B, ECOG 1, bilobar disease, and recurrent disease showed a significant increase in objective response (P = 0.038) compared to cTACE. DC Bead was associated with improved tolerability, with a significant reduction in serious liver toxicity (P < 0.001) and a significantly lower rate of doxorubicin-related side effects (P = 0.0001). TACE with DC Bead and doxorubicin is safe and effective in the treatment of HCC and offers a benefit to patients with more advanced disease.

Viikon albumi -haastattelu osana YleX-kanavan ohjelmatarjontaa

Nuorille suunnatut lähetysvirtaradioasemat käyvät Suomessa koko ajan tiukempaa taistelua kuuntelijoidensa huomiosta. Kuuntelijalukuja tarkastellaan miltei viikoittain ja kuuntelijoille tarjottavaa tuotetta pyritään kilpailun koventuessa koko ajan kehittämään. Yleisradiossa tapahtui viimeksi kanavauudistus vuonna 2003, jonka seurauksena Radiomafia -kanava sai uuden nimen YleX. Uudistuksessa radiokanavan kohdeyleisö tarkennettiin uudelleen ja kanavalla siirryttiin soittolistapohjaiseen radion tekemiseen, jossa kanavan musiikkia soitetaan etukäteen laaditulta soittolistalta. Kanavauudistusta kritisoitiin mediassa ja arkipuheessa, vaikka YleX -kanavan viikkokuulijamäärät lähtivät nousuun. Vieläkin YleX:n musiikkitarjontaa arvostellaan yksipuoliseksi ja samalla myös kanavan ohjelmat ovat joutuneet kritiikin kohteeksi. Opinnäytetyöni käsittelee viihdeartistihaastattelun tekemistä YleX-radiokanavalla. Työssäni YleX-kanavalla olen tehnyt viikoittaista viihdeartistihaastattelua, joka tunnetaan nimellä Viikon Albumi -haastattelu. Tämä haastattelu on osa arkipäiväistä YleX Tänään-ohjelmaa, missä sitä lähetetään maanantaisin kello 11.10. Omia haastatteluja reflektoimalla selvitin haastattelijan näkökulmasta, minkälaisin menetelmin nykyaikaisessa nopeatempoisessa lähetysvirtaradiossa syntyy mielenkiintoinen ja syvällinen viihdeartisti-haastattelu. Kuinka lähelle laadukkaan viihdehaastattelun tavoitteita on mahdollista päästä 15 minuutin Viikon Albumi -haastattelun aikana? Työssäni keskityn etenkin YleX:n haastatteluiden viihteelliseen luonteeseen ja nimenomaan viihdeartistin haastattelemiseen, jota on alan kirjallisuudessa käsitelty melko vähän. Viihdyttävän ja hauskan viihdeartistihaastattelun tekeminen on vaikea haastattelumuoto, jonka tekemistä pyrin valottamaan omien töideni avulla. Toivon, että työstäni on jatkossa hyötyä myös muille samankaltaisissa haastattelutilanteissa.

Hints for a fast precessing relativistic radio jet in LS I+61·303

Here we discuss two consecutive MERLIN observations of the X-ray binary LS I +61◦303. The first observation shows a double-sided jet extending up to about 200 AU on both sides of a central source. The jet shows a bent S-shaped struct ure similar to the one displayed by the well-known precessing jet of SS 433. The precession suggested in the first MERLIN image becomes evident in the second one, showing a one-sided bent jet significantly rotated with respect to the jet of the day before. We conclude that the derived precession of the relativistic (β=0.6) jet explains puzzling previous VLBI results. Moreover , the fact that the precession is fast could be the explanation of the never understood short term (days) variability of the associated gamma-ray source 2CG 135 + 01 / 3EG J0241 + 6103.

Phase-field model of Hele-Shaw flows in the high-viscosity contrast regime

A one-sided phase-field model is proposed to study the dynamics of unstable interfaces of Hele-Shaw flows in the high viscosity contrast regime. The corresponding macroscopic equations are obtained by means of an asymptotic expansion from the phase-field model. Numerical integrations of the phase-field model in a rectangular Hele-Shaw cell reproduce finger competition with the final evolution to a steady-state finger.

Influence of disorder strength on phase-field models of interfacial growth

We study the influence of disorder strength on the interface roughening process in a phase-field model with locally conserved dynamics. We consider two cases where the mobility coefficient multiplying the locally conserved current is either constant throughout the system (the two-sided model) or becomes zero in the phase into which the interface advances (one-sided model). In the limit of weak disorder, both models are completely equivalent and can reproduce the physical process of a fluid diffusively invading a porous media, where super-rough scaling of the interface fluctuations occurs. On the other hand, increasing disorder causes the scaling properties to change to intrinsic anomalous scaling. In the limit of strong disorder this behavior prevails for the one-sided model, whereas for the two-sided case, nucleation of domains in front of the invading front are observed.

La caverna de Josep Palau i Fabre (1952-1969): teatre versus al·legoria filosòfica per a representar i impedir el final tràgic i fosc del lluminós art de pensar.

What is the use of performing the myth of the cave from book VII of the Republic by Plato? Josep Palau i Fabre, considers that, in Plato's dialogues, the speakers are mere instruments at the service of his dialectical goal. The aim of this article is to show how, by turning the myth into a tragedy and also by relying on Heraclitus's conflict or war of opposites, the playwright succeeds in favoring a sort of thought which is not one-sided or univocal. On the contrary, in Palau i Fabre's La Caverna, the tragic hero, that is, the released prisoner transformed by the light of Reality and finally killed by his "cavemates" -after having been imprisoned again and having tried to rescue them from their ignorance or shadows-, still leaves to them his powerful experience of the agonistikos thought, which might bear fruit in their life to come.

La caverna de Josep Palau i Fabre (1952-1969): teatro versus alegoría filosófica para representar e impedir el final trágico y sombrío del luminoso arte de pensar.

What is the use of performing the myth of the cave from book VII of the Republic by Plato? Josep Palau i Fabre, considers that, in Plato's dialogues, the speakers are mere instruments at the service of his dialectical goal. The aim of this article is to show how, by turning the myth into a tragedy and also by relying on Heraclitus's conflict or war of opposites, the playwright succeeds in favoring a sort of thought which is not one-sided or univocal. On the contrary, in Palau i Fabre's La Caverna, the tragic hero, that is, the released prisoner transformed by the light of Reality and finally killed by his "cavemates" -after having been imprisoned again and having tried to rescue them from their ignorance or shadows-, still leaves to them his powerful experience of the agonistikos thought, which might bear fruit in their life to come.

Ultrathin strut biodegradable polymer sirolimus-eluting stent versus durable polymer everolimus-eluting stent for percutaneous coronary revascularisation (BIOSCIENCE): a randomised, single-blind, non-inferiority trial.

BACKGROUND: Refinements in stent design affecting strut thickness, surface polymer, and drug release have improved clinical outcomes of drug-eluting stents. We aimed to compare the safety and efficacy of a novel, ultrathin strut cobalt-chromium stent releasing sirolimus from a biodegradable polymer with a thin strut durable polymer everolimus-eluting stent. METHODS: We did a randomised, single-blind, non-inferiority trial with minimum exclusion criteria at nine hospitals in Switzerland. We randomly assigned (1:1) patients aged 18 years or older with chronic stable coronary artery disease or acute coronary syndromes undergoing percutaneous coronary intervention to treatment with biodegradable polymer sirolimus-eluting stents or durable polymer everolimus-eluting stents. Randomisation was via a central web-based system and stratified by centre and presence of ST segment elevation myocardial infarction. Patients and outcome assessors were masked to treatment allocation, but treating physicians were not. The primary endpoint, target lesion failure, was a composite of cardiac death, target vessel myocardial infarction, and clinically-indicated target lesion revascularisation at 12 months. A margin of 3·5% was defined for non-inferiority of the biodegradable polymer sirolimus-eluting stent compared with the durable polymer everolimus-eluting stent. Analysis was by intention to treat. The trial is registered with ClinicalTrials.gov, number NCT01443104. FINDINGS: Between Feb 24, 2012, and May 22, 2013, we randomly assigned 2119 patients with 3139 lesions to treatment with sirolimus-eluting stents (1063 patients, 1594 lesions) or everolimus-eluting stents (1056 patients, 1545 lesions). 407 (19%) patients presented with ST-segment elevation myocardial infarction. Target lesion failure with biodegradable polymer sirolimus-eluting stents (69 cases; 6·5%) was non-inferior to durable polymer everolimus-eluting stents (70 cases; 6·6%) at 12 months (absolute risk difference -0·14%, upper limit of one-sided 95% CI 1·97%, p for non-inferiority <0·0004). No significant differences were noted in rates of definite stent thrombosis (9 [0·9%] vs 4 [0·4%], rate ratio [RR] 2·26, 95% CI 0·70-7·33, p=0·16). In pre-specified stratified analyses of the primary endpoint, biodegradable polymer sirolimus-eluting stents were associated with improved outcome compared with durable polymer everolimus-eluting stents in the subgroup of patients with ST-segment elevation myocardial infarction (7 [3·3%] vs 17 [8·7%], RR 0·38, 95% CI 0·16-0·91, p=0·024, p for interaction=0·014). INTERPRETATION: In a patient population with minimum exclusion criteria and high adherence to dual antiplatelet therapy, biodegradable polymer sirolimus-eluting stents were non-inferior to durable polymer everolimus-eluting stents for the combined safety and efficacy outcome target lesion failure at 12 months. The noted benefit in the subgroup of patients with ST-segment elevation myocardial infarction needs further study. FUNDING: Clinical Trials Unit, University of Bern, and Biotronik, Bülach, Switzerland.

The cave (La caverna -1952-1969) by Josep Palau i Fabre: theatre versus philosophical allegory in order both to perform and stop the tragic and dark end of the bright art of thinking

What is the use of representing in performance the image of the cave from book VII of Plato’s Republic? Josep Palau i Fabre considers that in Plato’s dialogues the speakers are mere instruments at the service of his dialectical purpose. The aim of this article is to show how, by turning the myth into a tragedy and relying on Heraclitus’s conflict or war of opposites, the playwright succeeds in favouring a sort of thought which is not one-sided or univocal. On the contrary, in Palau i Fabre’s La Caverna, the tragic hero, the released prisoner transformed by the light of Reality and finally killed by his “cavemates” –after having been imprisoned again and having tried to rescue them from their ignorance or shadows– still leaves them his powerful experience of the agonistikós thought, which might bear fruit in their life to come.

Efficacy and safety of a phospholipid emulsion (GR270773) in Gram-negative severe sepsis: results of a phase II multicenter, randomized, placebo-controlled, dose-finding clinical trial.

OBJECTIVE: To assess the survival benefit and safety profile of low-dose (850 mg/kg) and high-dose (1350 mg/kg) phospholipid emulsion vs. placebo administered as a continuous 3-day infusion in patients with confirmed or suspected Gram-negative severe sepsis. Preclinical and ex vivo studies show that lipoproteins bind and neutralize endotoxin, and experimental animal studies demonstrate protection from septic death when lipoproteins are administered. Endotoxin neutralization correlates with the amount of phospholipid in the lipoprotein particles. DESIGN: A three-arm, randomized, blinded, placebo-controlled trial. SETTING: Conducted at 235 centers worldwide between September 2004 and April 2006. PATIENTS: A total of 1379 patients participated in the study, 598 patients received low-dose phospholipid emulsion, and 599 patients received placebo. The high-dose phospholipid emulsion arm was stopped, on the recommendation of the Independent Data Monitoring Committee, due to an increase in life-threatening serious adverse events at the fourth interim analysis and included 182 patients. MEASUREMENTS AND MAIN RESULTS: A 28-day all-cause mortality and new-onset organ failure. There was no significant treatment benefit for low- or high-dose phospholipid emulsion vs. placebo for 28-day all-cause mortality, with rates of 25.8% (p = .329), 31.3% (p = .879), and 26.9%, respectively. The rate of new-onset organ failure was not statistically different among groups at 26.3%, 31.3%, 20.4% with low- and high-dose phospholipid emulsion, and placebo, respectively (one-sided p = .992, low vs. placebo; p = .999, high vs. placebo). Of the subjects treated, 45% had microbiologically confirmed Gram-negative infections. Maximal changes in mean hemoglobin levels were reached on day 10 (-1.04 g/dL) and day 5 (-1.36 g/dL) with low- and high-dose phospholipid emulsion, respectively, and on day 14 (-0.82 g/dL) with placebo. CONCLUSIONS: Treatment with phospholipid emulsion did not reduce 28-day all-cause mortality, or reduce the onset of new organ failure in patients with suspected or confirmed Gram-negative severe sepsis.

The INTERMED questionnaire for predicting return to work after a multidisciplinary rehabilitation program for chronic low back pain.

OBJECTIVES: To evaluate the performance of the INTERMED questionnaire score, alone or combined with other criteria, in predicting return to work after a multidisciplinary rehabilitation program in patients with non-specific chronic low back pain. METHODS: The INTERMED questionnaire is a biopsychosocial assessment and clinical classification tool that separates heterogeneous populations into subgroups according to case complexity. We studied 88 patients with chronic low back pain who followed an intensive multidisciplinary rehabilitation program on an outpatient basis. Before the program, we recorded the INTERMED score, radiological abnormalities, subjective pain severity, and sick leave duration. Associations between these variables and return to full-time work within 3 months after the end of the program were evaluated using one-sided Fisher tests and univariate logistic regression followed by multivariate logistic regression. RESULTS: The univariate analysis showed a significant association between the INTERMED score and return to work (P<0.001; odds ratio, 0.90; 95% confidence interval, 0.86-0.96). In the multivariate analysis, prediction was best when the INTERMED score and sick leave duration were used in combination (P=0.03; odds ratio, 0.48; 95% confidence interval, 0.25-0.93). CONCLUSION: The INTERMED questionnaire is useful for evaluating patients with chronic low back pain. It could be used to improve the selection of patients for intensive multidisciplinary programs, thereby improving the quality of care, while reducing healthcare costs.

Seroepidemiology of herpes simplex virus type 1 and 2 in pregnant women in Switzerland: an obstetric clinic based study.

OBJECTIVE: To assess the seroprevalence of herpes simplex virus type 1 (HSV-1) and type 2 (HSV-2) IgG antibodies and the seroincidence of HSV-1 and HSV-2 infections in pregnant women attending the maternity clinic of the University Hospital Lausanne. STUDY DESIGN: Blood samples from 1030 women were taken at the usual pregnancy visit in the first trimester to assess the prevalence rate of IgG antibodies against HSV-1 and HSV-2 using a type-specific assay. A second blood sample was taken 6-8 weeks postpartum from returning women who were seronegative for HSV-2 or HSV-1 to assess the incidence of seroconversion (primary infection). RESULTS: The seroprevalence rates were 79.4% (95% CI: 76.9-81.9) for HSV-1 and 21.2% (18.7-23.7) for HSV-2 in women 14-46 years old. Type-specific serostatus patterns were as follows: 17.3% HSV-1/-2: +/+, 62.1% HSV-1/-2: +/-, 3.9% HSV-1/-2: -/+, 16.7% HSV-1/-2: -/-. Two hundred and sixty five women (59 of the 212 seronegative for HSV-1 (27.8%) and 265 of the 812 seronegative for HSV-2 (32.6%)) returned to the outpatient clinic for the post-delivery check and a second blood sample was obtained. One HSV-1 seroconversion was detected (HSV-1 seroconversion rate 2.4%/100 patient×year (95% CI: 0.06-13.4)) in a patient who had symptoms compatible with primary genital herpes. No HSV-2 seroconversion was detected (HSV-2 seroconversion rate: 0/100 patient×year (97.5% one-sided CI: 0-2)). CONCLUSION: Compared to a previous population-based study, our study results suggest a rise in the prevalence of HSV-2 among pregnant women in Switzerland. The low incidence of seroconversion detected during pregnancy is consistent with the very low reported incidence of neonatal herpes in Switzerland. CONDENSATION: This study in a public hospital in Western Switzerland suggests an increasing prevalence of HSV-2, but a low incidence of primary infections in women of childbearing age.

Hankintaprosessin suorituskyvyn mittaaminen

Tutkimuksen päätavoite oli kehittää teollisuusyrityksen hankintaprosessille kattavat suorituskykymittarit ja sillä pyrittiin vastaamaan kysymykseenMiten ERP -järjestelmän käyttäminen informaation lähteenä vaikuttaa hankintaprosessin suorituskyvyn mittaamiseen? Teoriaosassa paneuduttiin suorituskyvyn mittaamisen, hankintaprosessin suorituskyvyn mittaamisen sekä ERP -järjestelmän käsitteisiin ja keskeisiin ilmiöihin. Empiirisessä osassa keskityttiin kehittämään Paroc Groupin hankintaprosessille suorituskyvyn mittareita. Tavoitteeseen pyrittiin vastaamaan luomalla kolme raporttia Paroc Groupin hankintaprosessin mittaamiseen. Varastonimikkeiden kustannusseurantaraportissa seurataan kustannusten muutoksia varastokulutuksen perusteella, varastoraportissa varastontehokasta käyttöä ja toimittajaraportissa toimittajien laskutusta. Tutkittaessa ERP -järjestelmän ja hankintaprosessin suorituskyvyn mittaamisen yhteyttä ilmeni, että ERP -järjestelmä tarjoaa erittäin paljon tarkkaa ja aina samanmuotoista dataa. Toisaalta saatavan datan yksipuolisuus rajoittaa mittareiden valintaa. Mittaamisen nopeutta järjestelmä joiltain osilta lisää, toisilta ei. Tiedon saanti on kuitenkin aina säännöllistä.

Deep radio images of the HEGRA and Whipple TeV sources in the Cygnus OB2 region.

The modern generation of Cherenkov telescopes has revealed a new population of gamma-ray sources in the Galaxy. Some of them have been identified with previously known X-ray binary systems while other remain without clear counterparts a lower energies. Our initial goal here was reporting on extensive radio observations of the first extended and yet unidentified source, namely TeV J2032+4130. This object was originally detected by the HEGRA telescope in the direction of the Cygnus OB2 region and its nature has been a matter of debate during the latest years. The situation has become more complex with the Whipple and MILAGRO telescopes new TeV detections in the same field which could be consistent with the historic HEGRA source, although a different origin cannot be ruled out. Aims.We aim to pursue our radio exploration of the TeV J2032+4130 position that we initiated in a previous paper but taking now into account the latest results from new Whipple and MILAGRO TeV telescopes. The data presented here are an extended follow up of our previous work. Methods.Our investigation is mostly based on interferometric radio observations with the Giant Metre Wave Radio Telescope (GMRT) close to Pune (India) and the Very Large Array (VLA) in New Mexico (USA). We also conducted near infrared observations with the 3.5 m telescope and the OMEGA2000 camera at the Centro Astronómico Hispano Alemán (CAHA) in Almería (Spain). Results.We present deep radio maps centered on the TeV J2032+4130 position at different wavelengths. In particular, our 49 and 20 cm maps cover a field of view larger than half a degree that fully includes the Whipple position and the peak of MILAGRO emission. Our most important result here is a catalogue of 153 radio sources detected at 49 cm within the GMRT antennae primary beam with a full width half maximum (FWHM) of 43 arc-minute. Among them, peculiar sources inside the Whipple error ellipse are discussed in detail, including a likely double-double radio galaxy and a one-sided jet source of possible blazar nature. This last object adds another alternative counterpart possibility to be considered for both the HEGRA, Whipple and MILAGRO emission. Moreover, our multi-configuration VLA images reveal the non-thermal extended emission previously reported by us with improved angular resolution. Its non-thermal spectral index is also confirmed thanks to matching beam observations at the 20 and 6 cm wavelengths.