Propietats d'absorció bifotònica del tetrafenilporficè i el seu complex de palladi: potencials sensibilitzadors per a Teràpia Fotodinàmica bifotònica.

Estudi elaborat a partir d’una estada a la Universitat de Aarhus, Dinamarca, durant juliol 2006. En el present treball s’investiguen, per primer cop, les propietats de absorció bifotòniques del fotosensibilitzador 2,7,12,17-tetrafenilporficè (TPPo) i del seu complex de pal•ladi (II) (PdTPPo). Ambos compostos han rebut molta atenció com a possibles otosensibilitzadors per a Teràpia Fotodinàmica (TFD). S’utilitza la detecció de la fosforescència de l’oxigen singlet, centrada a 1270 nm i produïda per l’absorció de dos fotons, per quantificar la magnitud de la secció d’absorció bifotònica, "delta", dels porficèns estudiats. Els experiments se han dut a terme en el marge espectral 750-850 nm i a l’infraroig proper a 1100nm. Aquestes longituds d’ona corresponen a les zones d’absorció bifotònica en les bandes de Soret i Q. Les propietats bifotòniques obtingudes es comparen i contrasten amb les dades conegudes de la tetrafenilporfirina (TPP), isòmer estructural del tetrafenilporficè però amb més gran simetria, i es troba que en la banda de Soret (que coincideix amb la regió de la pell més transparent) els valors de delta per el TPPo i PdTPPo son aproximadament 2000 GM en el màxim, pràcticament cent vegades més grans que per la TPP. A més a més, aquestos valors son dos ordres de magnitud més grans que els obtinguts a l’irradiar a 1100 nm (bandes Q). Aquestes observacions es poden explicar mitjançant la amplificació per ressonància deguda a la presència de transicions monofotòniques ressonants en la regió de les bandes Q. Els elevats valors de "delta" obtinguts per els tetrafenilporficèns estudiats junt a les principals característiques que aquestos presenten (elevat rendiment de formació d’oxigen singlet, estabilitat química i fotoquímica, absència de citotoxicitat,...) qualifiquen al TPPo y PdTPPo com a possibles fotosensibilitzadors per a Teràpia Fotodinàmica Bifotònica.

Lymnaea rupestris sp. n. from Southern Brazil (Pulmonata: Lymnaeidae)

A new species of South American lymnaeid snail, Lymnaea rupestris, is described. So far it has been found only in its type-locality, Nova TeuTõnia, a village in the municipality of Seara (27° 07' S, 52° 17' W), state of Santa Catarina, Brazil. It is distinguishable, by characteristics of the shell and internal organs, from the other two lymnaeid species known to occur in the area, Lymnaea columella and L. viatrix. Its shell has 4 markedly shouldered whorls, deep suture, ovoid or rounded aperture occupying about half the length of the shell, and reaches about 6 mm in length in adults; in columella and viatrix the shell has 4-5 rounded whorls, shallow suture, and reaches over 10 mm in adults; the aperture is ovoid, occupying about half the length of the shell in viatrix, about two thirds in columella. Anatomically it is readily separated from L. columella by the shape of the ureter, straight in rupestris, with a double flexure in columella. Comparison with L. viatrix shows the following main differences: distalmost portion of the oviduct with a low, caplike lateral swelling in rupestris, with a well-developed pouch in viatrix; uterus bent abruptly caudalward in rupestris, only slightly curved rightward in viatrix; basal half of the spermathecal duct hidden by the prostate in rupestris, wholly visible or nearly so in viatrix; spermiduct sinuous and uniformly wide in rupestris, straight and gradually narrowing in viatrix; prostate more than half as long and nearly as wide as the nidamental gland, and with a slit-like lumen in cross-section in rupestris, less than half as long as and much narrower than the nidamental gland, and with an inward fold in cross-section in viatrix; penial sheath about as long and as wide as the prepuce in rupesris, shorter and narrower than the prepuce in viatrix. An important ecological characteristic of L. rupestris is its habitat on wet rocks most often outside bodies of water, although in close proximity to them. Specimens were deposited in the following malacological collections: Instituto OswaldoCruz, Rio de Janeiro; Academy of Natural Sciences, Philadelphia; Museum of Zoology, University of Michigan; and British Museum (Natural History).

Locations and Relocations:Modelling, Determinants, and Interrelations

Empirical studies on industrial location do not typically distinguish between new and relocated establishments. This paper addresses this shortcoming using data on the frequency of these events in municipalities of the same economic-administrative region. This enables us to test not only for differences in their determinants but also for interrelations between start-ups and relocations. Estimates from count regression models for cross-section and panel data show that, although partial effects differ, common patterns arise in “institutional” and “neoclassical” explanatory factors. Also, start-ups and relocations are positive but asymmetrically related. JEL classification: C25, R30, R10. Keywords: cities, count data models, industrial location

Price level convergence, purchasing power parity and multiple structural breaks: an application to US cities

This article provides a fresh methodological and empirical approach for assessing price level convergence and its relation to purchasing power parity (PPP) using annual price data for seventeen US cities. We suggest a new procedure that can handle a wide range of PPP concepts in the presence of multiple structural breaks using all possible pairs of real exchange rates. To deal with cross-sectional dependence, we use both cross-sectional demeaned data and a parametric bootstrap approach. In general, we find more evidence for stationarity when the parity restriction is not imposed, while imposing parity restriction provides leads toward the rejection of the panel stationar- ity. Our results can be embedded on the view of the Balassa-Samuelson approach, but where the slope of the time trend is allowed to change in the long-run. The median half-life point estimate are found to be lower than the consensus view regardless of the parity restriction.

Is the consumption-income ratio stationary? Evidence from linear and nonlinear panel unit root tests for OECD and non-OECD countries

This paper applies recently developed heterogeneous nonlinear and linear panel unit root tests that account for cross-sectional dependence to 24 OECD and 33 non-OECD countries’ consumption-income ratios over the period 1951–2003. We apply a recently developed methodology that facilitates the use of panel tests to identify which individual cross-sectional units are stationary and which are nonstationary. This extends evidence provided in the recent literature to consider both linear and nonlinear adjustment in panel unit root tests, to address the issue of cross-sectional dependence, and to substantially expand both time-series and cross sectional dimensions of the data analysed. We find that the majority (65%) of the series are nonstationary with slightly fewer OECD countries’ (61%) series exhibiting a unit root than non-OECD countries (68%).

Colonialism, European Descendants and Democracy

This paper advances that the share of European descendants in the population is a major determinant of democracy in former colonial countries. We test this hypothesis using cross-section and panel regressions with 60 developing and developed countries that were once colonies. We find that the share of European descendants can explain more than half of the difference in measures of democracy between the least and the most democratic countries in our sample. We control for other potential determinants of democracy and test for endogeneity bias using instrumental variables.

Growth and Survival Determinants of Chinese Private Firms: Fieldwork evidence and econometric estimates

This paper reports on one of the first empirical attempts to investigate small firm growth and survival, and their determinants, in the Peoples’ Republic of China. The work is based on field work evidence gathered from a sample of 83 Chinese private firms (mainly SMEs) collected initially by face-to-face interviews, and subsequently by follow-up telephone interviews a year later. We extend the models of Gibrat (1931) and Jovanovic (1982), which traditionally focus on size and age alone (e.g. Brock and Evans, 1986), to a ‘comprehensive’ growth model with two types of additional explanatory variables: firm-specific (e.g. business planning); and environmental (e.g. choice of location). We estimate two econometric models: a ‘basic’ age-size-growth model; and a ‘comprehensive’ growth model, using Heckman’s two-step regression procedure. Estimation is by log-linear regression on cross-section data, with corrections for sample selection bias and heteroskedasticity. Our results refute a pure Gibrat model (but support a more general variant) and support the learning model, as regards the consequences of size and age for growth; and our extension to a comprehensive model highlights the importance of location choice and customer orientation for the growth of Chinese private firms. In the latter model, growth is explained by variables like planning, R&D orientation, market competition, elasticity of demand etc. as well as by control variables. Our work on small firm growth achieves two things. First, it upholds the validity of ‘basic’ size-age-growth models, and successfully applies them to the Chinese economy. Second, it extends the compass of such models to a ‘comprehensive’ growth model incorporating firm-specific and environmental variables.

Transmission of macro-liquidity shocks to liquidity-sorted stock portfolios’ returns: The role of the financial crisis

This study examines the impact of macro-liquidity shocks on the returns of UK stock portfolios sorted on the basis of a series of micro-liquidity measures. The macro-liquidity shocks are extracted on the meeting days of the Bank of England Monetary Policy Committee relative to market expectations embedded in futures contracts on the 3-month LIBOR during the period June 1999- December 2009. We report definitive evidence that these shocks are transmitted to the cross-section of liquidity-sorted portfolios, with most liquid stocks playing a very active role. Our results emphatically document that the shocks-returns relationship has reversed its sign during the recent financial crisis; the standard inverse relationship between interest rate surprises and portfolios’ returns before the crisis has turned into positive during the crisis. This finding confirms the inability of interest rate cuts to boost returns in the shortrun during the crisis, because these were perceived by market participants as a signal of a deteriorating economic outlook.

Firm size and trade secret intensity: evidence from the Economic Espionage Act

This paper considers trade secrecy as an appropriation mechanism in the context ofb the US Economic Espionage Act (EEA) 1996. We examine the relation between trade secret intensity and firm size, using a cross section of 95 court cases. The paper builds on extant work in three respects. First, we create a unique body of evidence, using EEA prosecutions from 1996 to 2008. Second, we use an econometric approach to measurement, estimation and hypothesis testing. This allows us comprehensively to test the robustness of findings. Third, we focus on objectively measured valuations, instead of the subjective, self-reported values used elsewhere. We find a stable, robust value for the elasticity of trade secret intensity with respect to firm size, which indicates that a 10% reduction in firm size leads to a 7% increase in trade secret intensity. We find that this result is not sensitive to industrial sector, sample trimming, or functional form.

Extending contingency: the impact of strategy, technology, size and business environment on the organisational form of small Chinese firms

This paper is inspired by articles in the last decade or so that have argued for more attention to theory, and to empirical analysis, within the well-known, and long-lasting, contingency framework for explaining the organisational form of the firm. Its contribution is to extend contingency analysis in three ways: (a) by empirically testing it, using explicit econometric modelling (rather than case study evidence) involving estimation by ordered probit analysis; (b) by extending its scope from large firms to SMEs; (c) by extending its applications from Western economic contexts, to an emerging economy context, using field work evidence from China. It calibrates organizational form in a new way, as an ordinal dependent variable, and also utilises new measures of familiar contingency factors from the literature (i.e. Environment, Strategy, Size and Technology) as the independent variables. An ordered probit model of contingency was constructed, and estimated by maximum likelihood, using a cross section of 83 private Chinese firms. The probit was found to be a good fit to the data, and displayed significant coefficients with plausible interpretations for key variables under all the four categories of contingency analysis, namely Environment, Strategy, Size and Technology. Thus we have generalised the contingency model, in terms of specification, interpretation and applications area.

Growth and Survival Determinants of Chinese Private Firms: Fieldwork evidence and econometric estimates

This paper reports on one of the first empirical attempts to investigate small firm growth and survival, and their determinants, in the Peoples’ Republic of China. The work is based on field work evidence gathered from a sample of 83 Chinese private firms (mainly SMEs) collected initially by face-to-face interviews, and subsequently by follow-up telephone interviews a year later. We extend the models of Gibrat (1931) and Jovanovic (1982), which traditionally focus on size and age alone (e.g. Brock and Evans, 1986), to a ‘comprehensive’ growth model with two types of additional explanatory variables: firm-specific (e.g. business planning); and environmental (e.g. choice of location). We estimate two econometric models: a ‘basic’ age-size-growth model; and a ‘comprehensive’ growth model, using Heckman’s two-step regression procedure. Estimation is by log-linear regression on cross-section data, with corrections for sample selection bias and heteroskedasticity. Our results refute a pure Gibrat model (but support a more general variant) and support the learning model, as regards the consequences of size and age for growth; and our extension to a comprehensive model highlights the importance of location choice and customer orientation for the growth of Chinese private firms. In the latter model, growth is explained by variables like planning, R&D orientation, market competition, elasticity of demand etc. as well as by control variables. Our work on small firm growth achieves two things. First, it upholds the validity of ‘basic’ size-age-growth models, and successfully applies them to the Chinese economy. Second, it extends the compass of such models to a ‘comprehensive’ growth model incorporating firm-specific and environmental variables.

Stock Market Liquidity and Macro-Liquidity Shocks: Evidence from the 2007-2009 Financial Crisis

We develop an empirical framework that links micro-liquidity, macro-liquidity and stock prices. We provide evidence of a strong link between macro-liquidity shocks and the returns of UK stock portfolios constructed on the basis of micro-liquidity measures between 1999-2012. Specifically, macro-liquidity shocks, which are extracted on the meeting days of the Bank of England Monetary Policy Committee relative to market expectations embedded in 3-month LIBOR futures prices, are transmitted in a differential manner to the cross-section of liquidity-sorted portfolios, with liquid stocks playing the most active role. We also find that there is a significant increase in shares’ trading activity and a rather small increase in their trading cost on MPC meeting days. Finally, our results emphatically document that during the recent financial crisis the shocks-returns relationship has reversed its sign. Interest rate cuts during the crisis were perceived by market participants as a signal of deteriorating economic prospects and reinforced “flight to safety” trading.

Intergenerational Mobility and the Informative Content of Surnames

We propose a new methodology for measuring intergenerational mobility in economic wellbeing. Our method is based on the joint distribution of surnames and economic outcomes. It circumvents the need for intergenerational panel data, a long-standing stumbling block for understanding mobility. A single cross-sectional dataset is su cient. Our main idea is simple. If `inheritance' is important for economic outcomes, then rare surnames should predict economic outcomes in the cross-section. This is because rare surnames are indicative of familial linkages. Of course, if the number of rare surnames is small, this won't work. But rare surnames are abundant in the highly-skewed nature of surname distributions from most Western societies. We develop a model that articulates this idea and shows that the more important is inheritance, the more informative will be surnames. This result is robust to a variety of di erent assumptions about fertility and mating. We apply our method using the 2001 census from Catalonia, a large region of Spain. We use educational attainment as a proxy for overall economic well-being. Our main nding is that mobility has decreased among the di erent generations of the 20th century. A complementary analysis based on sibling correlations con rms our results and provides a robustness check on our method. Our model and our data allow us to examine one possible explanation for the observed decrease in mobility. We nd that the degree of assortative mating has increased over time. Overall, we argue that our method has promise because it can tap the vast mines of census data that are available in a heretofore unexploited manner.

Agronomic and commercial performance of four Spanish carob cultivars

The carob tree (Ceratonia siliqua) shows interesting prospects for some coastal Mediterranean growing areas and is widely used for industrial, agricultural, and ornamental purposes. It can be an alternative crop adapted to part-time farming and can also be used to regenerate vegetation in areas with a mild climate and erosion problems. Four Spanish carob cultivars were examined (Banya de Cabra, Duraio, Matalafera, and Rojal) to determine the one that performed the best for planting new orchards in northeastern Spain (Catalonia). The trees in this rain-fed trial (average rainfall of 500 mm) were planted in 1986 using seedling rootstocks that were budded in 1987. The trees were trained using the free-vase system and were spaced 8 x 9 m (138 trees/ha including 12% pollinators). The results showed that ‘Rojal’ was the earliest bearing cultivar. However, no significant differences were observed for cumulative pod production 18 years after budding. With respect to cumulative seed yield, ‘Duraio’ had the highest production (95 kg/tree). The lowest tree vigor (trunk cross-section) was observed in ‘Matalafera’. ‘Rojal’ trees produced the largest pods (average fruit weight of 18.9 g) and lowest seed content (11.8%), while ‘Banya de Cabra’ and ‘Duraio’ produced the smallest fruit (weighing 15.3 and 16.2 g, respectively) with the highest seed content (15.2% and 17.3%, respectively). Gum content, expressed as a percentage of the dry weight, was highest in ‘Duraio’ (56.9%) and was lowest in ‘Rojal’ (54.1%). Thus, in terms of kernel and pod production, ‘Duraio’ appeared to be the best-performing female cultivar for planting new carob orchards

Chronic exercise preserves lean muscle mass in masters athletes.

Aging is commonly associated with a loss of muscle mass and strength, resulting in falls, functional decline, and the subjective feeling of weakness. Exercise modulates the morbidities of muscle aging. Most studies, however, have examined muscle-loss changes in sedentary aging adults. This leaves the question of whether the changes that are commonly associated with muscle aging reflect the true physiology of muscle aging or whether they reflect disuse atrophy. This study evaluated whether high levels of chronic exercise prevents the loss of lean muscle mass and strength experienced in sedentary aging adults. A cross-section of 40 high-level recreational athletes ("masters athletes") who were aged 40 to 81 years and trained 4 to 5 times per week underwent tests of health/activity, body composition, quadriceps peak torque (PT), and magnetic resonance imaging of bilateral quadriceps. Mid-thigh muscle area, quadriceps area (QA), subcutaneous adipose tissue, and intramuscular adipose tissue were quantified in magnetic resonance imaging using medical image processing, analysis, and visualization software. One-way analysis of variance was used to examine age group differences. Relationships were evaluated using Spearman correlations. Mid-thigh muscle area (P = 0.31) and lean mass (P = 0.15) did not increase with age and were significantly related to retention of mid-thigh muscle area (P < 0.0001). This occurred despite an increase in total body fat percentage (P = 0.003) with age. Mid-thigh muscle area (P = 0.12), QA (P = 0.17), and quadriceps PT did not decline with age. Specific strength (strength per QA) did not decline significantly with age (P = 0.06). As muscle area increased, PT increased significantly (P = 0.008). There was not a significant relationship between intramuscular adipose tissue (P = 0.71) or lean mass (P = 0.4) and PT. This study contradicts the common observation that muscle mass and strength decline as a function of aging alone. Instead, these declines may signal the effect of chronic disuse rather than muscle aging. Evaluation of masters athletes removes disuse as a confounding variable in the study of lower-extremity function and loss of lean muscle mass. This maintenance of muscle mass and strength may decrease or eliminate the falls, functional decline, and loss of independence that are commonly seen in aging adults.