The ocean's role in polar climate change: asymmetric Arctic and Antarctic responses to greenhouse gas and ozone forcing

In recent decades, the Arctic has been warming and sea ice disappearing. By contrast, the Southern Ocean around Antarctica has been (mainly) cooling and sea-ice extent growing. We argue here that interhemispheric asymmetries in the mean ocean circulation, with sinking in the northern North Atlantic and upwelling around Antarctica, strongly influence the sea-surface temperature (SST) response to anthropogenic greenhouse gas (GHG) forcing, accelerating warming in the Arctic while delaying it in the Antarctic. Furthermore, while the amplitude of GHG forcing has been similar at the poles, significant ozone depletion only occurs over Antarctica. We suggest that the initial response of SST around Antarctica to ozone depletion is one of cooling and only later adds to the GHG-induced warming trend as upwelling of sub-surface warm water associated with stronger surface westerlies impacts surface properties. We organize our discussion around ‘climate response functions’ (CRFs), i.e. the response of the climate to ‘step’ changes in anthropogenic forcing in which GHG and/or ozone-hole forcing is abruptly turned on and the transient response of the climate revealed and studied. Convolutions of known or postulated GHG and ozone-hole forcing functions with their respective CRFs then yield the transient forced SST response (implied by linear response theory), providing a context for discussion of the differing warming/cooling trends in the Arctic and Antarctic. We speculate that the period through which we are now passing may be one in which the delayed warming of SST associated with GHG forcing around Antarctica is largely cancelled by the cooling effects associated with the ozone hole. By mid-century, however, ozone-hole effects may instead be adding to GHG warming around Antarctica but with diminished amplitude as the ozone hole heals. The Arctic, meanwhile, responding to GHG forcing but in a manner amplified by ocean heat transport, may continue to warm at an accelerating rate.

Asymmetric information, credit market condition, and entrepreneurial finance

The issue of imperfect information plays a much more important role in financing “informationally opaque” small businesses than in financing large companies.1 This chapter examines the asymmetric information issue in entrepreneurial finance from two perspectives: the effects of relationship lending and the impacts of credit market concentration on entrepreneurial financial behavior. These two perspectives are strongly linked to each other via the asymmetric information issue in entrepreneurial finance. Existing literature has recognized the important role played by relationship lending in alleviating the problem of asymmetric information. However, mixed empirical results have been reported. For example, it has been found that the development of relationship lending can improve the availability of finance for small businesses borrowers (Petersen and Rajan, 1994) and reduce the costs of finance (Berger and Udell, 1995). Meanwhile, with monopoly power, banks may extract rents, in terms of charging higher-than-market interest rates, from small businesscustomers who have very concentrated banking relationships (Ongena and Smith, 2001). In addition, both favorable and unfavorable effects of credit market concentration on financing small businesses have been acknowledged. Small business borrowers may have to pay a higher-than-market price on loans (Degryse and Ongena, 2005) and are more likely to be financially constrained (Cetorelli, 2004) than in competitive markets. On the other hand, empirical studies have shown that market concentration create a strong motive for lenders to invest in private information from small business customers, and therefore a concentrated market is more efficient in terms of private information acquisition (Han et al., 2009b). The objective of this chapter is to investigate, by reviewing existing literature, the role played by relationship lending and the effects of market concentration on financing entrepreneurial businesses that are supposed to be informationally opaque. In the first section we review literature on the important role played by asymmetric information in entrepreneurial finance from two perspectives: asymmetric information and relationship lending, and the theoretical modeling of asymmetric information. Then we examine the relationship between capital market conditions and entrepreneurial finance and attempt to answer two questions: Why is the capital market condition important for entrepreneurial finance? and What are the effects of capital market conditions on entrepreneurial financial behavior in terms of discouraged borrowers, cash holding, and the availability and costs of finance?

The dynamics of cargo driven by molecular motors in the context of asymmetric simple exclusion processes

We consider the dynamics of cargo driven by a collection of interacting molecular motors in the context of ail asymmetric simple exclusion process (ASEP). The model is formulated to account for (i) excluded-volume interactions, (ii) the observed asymmetry of the stochastic movement of individual motors and (iii) interactions between motors and cargo. Items (i) and (ii) form the basis of ASEP models and have already been considered to study the behavior of motor density profile [A. Parmeggiani. T. Franosch, E. Frey, Phase Coexistence in driven one-dimensional transport, Phys. Rev. Lett. 90 (2003) 086601-1-086601-4]. Item (iii) is new. It is introduced here as an attempt to describe explicitly the dependence of cargo movement on the dynamics of motors in this context. The steady-state Solutions Of the model indicate that the system undergoes a phase transition of condensation type as the motor density varies. We study the consequences of this transition to the behavior of the average cargo velocity. (C) 2009 Elsevier B.V. All rights reserved.

Debt composition and exchange rate balance sheet effects in Brazil: A firm level analysis

In this paper we study the interaction between macroeconomic environment and firms’ balance sheet effects in Brazil during the 1990’s. We start by assessing the influence of macroeconomic conditions on firms’ debt composition in Brazil. We found that larger firms tend to change debt currency composition more in response to a change in the exchange rate risk than small firms. We then proceed to investigate if and how exchange rate balance sheet effects affected the firms’ investment decisions. We test directly the exchange rate balance sheet effect on investment. Contrary to earlier findings (Bleakley and Cowan, 2002), we found that firms more indebted in foreign currency tend to invest less when there is an exchange rate devaluation. We tried different controls for the competitiveness effect. First, we control directly for the effect of the exchange rate on exports and imported inputs. We then pursue an alternative investigation strategy, inspired by the credit channel literature. According to this perspective, Tobin’s q can provide an adequate control for the competitiveness effect on investment. Our results provide supporting evidence for imperfect capital markets, and for a negative exchange rate balance sheet effect in Brazil. The results concerning the exchange rate balance sheet effect on investment are statistically significant and robust across the different specifications. We tested the results across different periods, classified according to the macroeconomic environment. Our findings suggest that the negative exchange rate balance sheet effect we found in the whole sample is due to the floating exchange rate period. We also found that exchange rate devaluations have important negative impact on both cash flows and sales of indebted firms. Furthermore, the impact of exchange rate variations is asymmetric, and the significant effect detected when no asymmetry is imposed is engendered by exchange rate devaluations.

Construction of facilities under asymmetric information: do constitutional constraints matter?

This paper studies construction of facilities in a federal state under asymmetric information. A country consists of two regions, each ruled by a local authority. The federal government plans to construct a facility in one of the regions. The facility generates a local value in the host region and has spillover effects in the other region. The federal government does not observe the local value because it is the local authority's private information. 80 the federal governrnent designs an incentive-compatible mechanism, specifying if the facility should be constructed and a balanced scheme of interregional transfers to finance its cost. The federal governrnent is constitutionally constrained to respect a given leveI of each region's welfare. We show that depending upon the facility's local value and the spillover effect, the governrnent faces different incentive problems. Moreover, their existence depends crucially on how stringent constitutional constraints are. Therefore, the optimal mechanism will also depend upon these three features of the model.

Technology adoption and effects of transfers across locations

This paper develops a two-period model with heterogeneous agents to analyze the e¤ects of transfers across locations on convergence, growth and welfare. The model has two important features. First, locations are asymmetric as it is assumed that there are more specialized occupations in the more developed one. Second, the returns on the investment to acquire new technology depend positively on the level of each region’s knowledge and on the level of the world knowledge assumed to be available to all. In one hand, the poor region has a disadvantage as it has a lower stock of knowledge. On the other hand, it has the advantage of not having yet exploited a greater stock of useable knowledge available in the world. Hence, there are two possible cases. When the returns are greater in the poor region, we obtain the following results: (i) the rich location grows slower; (ii) the transfers to the poor location enhances the country’s growth rate; and (iii) there is a positive amount of transfers to the poor region that is welfare improving. When the returns are greater in the rich region, the …rst two results are reversed and transfers to the rich region are welfare improving. In both cases, the optimal amount of transfer increases with the level of income disparity across regions and is not dependent on the level of the country’s economic development (measured by its income per capita). Barriers to the adoption of new technology available in the world can constrain the convergence process as it harms in greater length the poor region. The results do not change whether migration is allowed or not.

Not delivering as one: asymmetric outcomes in firm-university collaborations

Extant literature examined the benefits of relational embeddedness in facilitating collaboration between organizations, as well as the necessity of firms to balance their knowledge generation into exploration and exploitation activities. However, the effects of relational embeddedness in the specific outputs of firm-university collaborations, as well as the elements that affect the exploratory nature of such outcomes remain underexplored. By examining fine grained data of more than 4.000 collaborative research and development projects by a firm and universities, 5.000 patents, and 300.000 scientific publications, it was proposed that relational embeddedness would have a positive effect on resource commitment and on joint scientific publications, but a negative effect on joint patents and exploratory outcomes resulting of such collaborations. Additionally, it was proposed that knowledge similarity would have a negative impact in exploratory endeavors made in such projects. Although some of the propositions were not supported by the data, this study revealed that relational embeddedness increases resource commitment and the production of joint scientific publications in such partnerships. At last, this study presents interesting opportunities for future research.

Asymmetric post-natal development of superior cervical ganglion of paca (Agouti paca)

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Pauli blocking and medium effects in nucleon knockout reactions

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Droplet formation in cold asymmetric nuclear matter in the quark-meson-coupling model

The quark-meson-coupling model is used to study droplet formation from the liquid-gas phase transition in cold asymmetric nuclear matter. The critical density and proton fraction for the phase transition are determined in the mean field approximation. Droplet properties are calculated in the Thomas-Fermi approximation. The electromagnetic field is explicitly included and its effects on droplet properties are studied. The results are compared with the ones obtained with the NL1 parametrization of the non-linear Walecka model. © 2000 Elsevier Science B.V.

Nuclear effects on the transverse momentum spectra of charged particles in pPb collisions at root s(NN)=5.02 TeV

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

The macro level effects of gender - (un)fair language in Polish

A recent analysis of more than 100 countries found that the extent to which their languages grammatically allowed for an asymmetric treatment of men and women correlated with socio-economic indices of gender inequality (Prewitt-Freilino, Caswell, & Laakso, 2012). In a set of four studies we examine whether the availability of feminine forms as indicated by the most recent dictionaries (1) predicts the actual percentage of women and gender wage gap for all professions registered in Poland; (2) predicts the longitudinal pattern of use of the occupational job-titles; (3) relates to social perception of the sample of 150 professions.

Effects of meaning and symmetry on judgments of size

Research has shown that people judge words as having bigger font size than non-words. This finding has been interpreted in terms of processing fluency, with higher fluency leading to judgments of bigger size. If so, symmetric numbers (e.g., 44) which can be processed more fluently are predicted to be judged as larger than asymmetric numbers (e.g., 43). However, recent research found that symmetric numbers were judged to be smaller than asymmetric numbers. This finding suggests that the mechanisms underlying size judgments may differ in meaningful and meaningless materials. Supporting this notion, we showed in Experiment 1 that meaning increased judged size, whereas symmetry decreased judged size. In the next two experiments, we excluded several alternative explanations for the differences in size judgments between meaningful and meaningless materials in earlier studies. This finding contradicts the notion that the mechanism underlying judgments of size is processing fluency.

Hydrodynamic and Thermophoretic Effects on the Supramolecular Chirality of Pyrene-Derived Nanosheets

Chiroptical properties of two-dimensional (2D) supramolecular assemblies (nanosheets) of achiral, charged pyrene trimers (Py3) are rendered chiral by asymmetric physical perturbations. Chiral stimuli in a cuvette can originate either from controlled temperature gradients or by very gentle stirring. The chiroptical activity strongly depends on the degree of supramolecular order of the nanosheets, which is easily controlled by the method of preparation. The high degree of structural order ensures strong cooperative effects within the aggregates, rendering them more susceptible to external stimuli. The samples prepared by using slow thermal annealing protocols are both CD and LD active (in stagnant and stirred solutions), whereas for isothermally aged samples chiroptical activity was in all cases undetectable. In the case of temperature gradients, the optical activity of 2D assemblies could be recorded for a stagnant solution due to migration of the aggregates from the hottest to the coldest regions of the system. However, a considerably stronger exciton coupling, coinciding with the J-band of the interacting pyrenes, is developed upon subtle vortexing (0.5 Hz, 30 rpm) of the aqueous solution of the nanosheets. The sign of the exciton coupling is inverted upon switching between clockwise and counter-clockwise rotation. The supramolecular chirality is evidenced by the appearance of CD activity. To exclude artefacts from proper CD spectra, the contribution from LD to the observed CD was determined. The data suggest that the aggregates experience asymmetrical deformation and alignment effects because of the presence of chiral flows.

Concise Asymmetric Synthesis and Pharmacological Characterization of All Stereoisomers of Glutamate Transporter Inhibitor TFB-TBOA and Synthesis of EAAT Photoaffinity Probes

Glutamate is the major excitatory neurotransmitter in the mammalian brain. Its rapid clearance after the release into the synaptic cleft is vital in order to avoid toxic effects and is ensured by several transmembrane transport proteins, so-called excitatory amino acid transporters (EAATs). Impairment of glutamate removal has been linked to several neurodegenerative diseases and EAATs have therefore received increased attention as therapeutic targets. O-benzylated L-threo-β-hydroxyaspartate derivatives have been developed previously as highly potent inhibitors of EAATs with TFB-TBOA ((2S,3S)-2-amino-3-((3-(4-(trifluoromethyl)benzamido)benzyl)oxy)succinic acid) standing out as low-nanomolar inhibitor. We report the stereoselective synthesis of all four stereoisomers of TFB-TBOA in less than a fifth of synthetic steps than the published route. For the first time, the inhibitory activity and isoform selectivity of these TFB-TBOA enantio- and diastereomers were assessed on human glutamate transporters EAAT1-3. Furthermore, we synthesized potent photoaffinity probes based on TFB-TBOA using our novel synthetic strategy.