La gestión del riesgo de mercado en las entidades de depósito. Introducción a la metodología VAR��

[ES] El propósito de este artículo es suministrar al lector los primeros pasos para la comprensión de la metodología Value at Risk (Var). La necesidad de comprender esta metodología está justificada por el acuerdo de Basilea y la Directiva sobre los requerimientos de capital impuesta por la Unión Europea. Ambos proponen los métodos VaR para determinar el capital mínimo de los bancos comerciales en su operativa pero, ¿Qué es el riesgo exactamente?. El riesgo puede ser definido como la volatilidad de los resultados esperados.

Studio dell'effetto di diverse condizioni di tostatura sulle proprieta fisico-chimiche e biochimiche di nocciole polacche (coryllus avellana l. Var. Katalonski)

In questo lavoro di tesi è stata valutata l’influenza della tostatura a diverse condizioni di tempo e temperatura sulle principali caratteristiche qualitative di nocciole polacche (Coryllus avellana L.) di varietà Kataloński. In particolare, le prove di tostatura sono state condotte a due differenti temperature, 130 e 160 °C, ognuna delle quali applicata rispettivamente per tre diversi tempi: 40, 50, 60 e 20, 25, 30 minuti. Al fine di definire le condizioni ottimali di tostatura, i campioni ottenuti sono stati sottoposti ad analisi colorimetrica (L*,a*,b*), dell’attività dell’acqua e del contenuto in acqua (%). Inoltre, per ottenere un quadro completo della qualità delle diverse nocciole tostate, è stato valutato anche il loro contenuto in composti bioattivi per mezzo della determinazione del contenuto in fenoli totali (metodo del Folin-Ciocalteu), dei singoli composti fenolici (HPLC-MS) e dell’attività antiossidante (metodo dell’ABTS·+). In seguito ad estrazione della frazione lipidica, è stato determinato anche il contenuto in tocoferoli (HPLC-FLD) e lo stato ossidativo delle nocciole tostate per mezzo dell’analisi del numero di perossidi. Infine è stato studiato anche l’effetto della tostatura sullo sviluppo di composti volatili (GC-MS), caratteristici dell’aroma tipico delle nocciole tostate. Questo studio rappresenta un importante screening di valutazione delle nocciole tostate a diversi tempi e temperature e mostra come la temperatura sia un parametro molto importante, con una forte influenza sulle caratteristiche compositive e sensoriali del prodotto finito. Sulla varietà Kataloński non sono presenti lavori in letteratura, questo studio quindi rappresenta una novità per quanto riguarda questa specifica varietà. Le numerose analisi svolte, poi, consentono un ampio quadro dei fenomeni che si verificano durante la tostatura.

Identification of endocannabinoid system-modulating N-alkylamides from Heliopsis helianthoides var. scabra and Lepidium meyenii.

The discovery of the interaction of plant-derived N-alkylamides (NAAs) and the mammalian endocannabinoid system (ECS) and the existence of a plant endogenous N-acylethanolamine signaling system have led to the re-evaluation of this group of compounds. Herein, the isolation of seven NAAs and the assessment of their effects on major protein targets in the ECS network are reported. Four NAAs, octadeca-2E,4E,8E,10Z,14Z-pentaene-12-ynoic acid isobutylamide (1), octadeca-2E,4E,8E,10Z,14Z-pentaene-12-ynoic acid 2'-methylbutylamide (2), hexadeca-2E,4E,9Z-triene-12,14-diynoic acid isobutylamide (3), and hexadeca-2E,4E,9,12-tetraenoic acid 2'-methylbutylamide (4), were identified from Heliopsis helianthoides var. scabra. Compounds 2-4 are new natural products, while 1 was isolated for the first time from this species. The previously described macamides, N-(3-methoxybenzyl)-(9Z,12Z,15Z)-octadecatrienamide (5), N-benzyl-(9Z,12Z,15Z)-octadecatrienamide (6), and N-benzyl-(9Z,12Z)-octadecadienamide (7), were isolated from Lepidium meyenii (Maca). N-Methylbutylamide 4 and N-benzylamide 7 showed submicromolar and selective binding affinities for the cannabinoid CB1 receptor (Ki values of 0.31 and 0.48 μM, respectively). Notably, compound 7 also exhibited weak fatty acid amide hydrolase (FAAH) inhibition (IC50 = 4 μM) and a potent inhibition of anandamide cellular uptake (IC50 = 0.67 μM) that was stronger than the inhibition obtained with the controls OMDM-2 and UCM707. The pronounced ECS polypharmacology of compound 7 highlights the potential involvement of the arachidonoyl-mimicking 9Z,12Z double-bond system in the linoleoyl group for the overall cannabimimetic action of NAAs. This study provides additional strong evidence of the endocannabinoid substrate mimicking of plant-derived NAAs and uncovers a direct and indirect cannabimimetic action of the Peruvian Maca root.

Sēfer Kōkevā de-šāvît : hû hak-kôkāv ašer ʿāvar ... hay-yir'at šāmayim le-nāšîm ... li-lešôn aškenaz û-niqrā šemô <šṭerin šus>

Digitalisat der Ausg. Amśṭrdm, 1694/95

Expression and distribution of a vacuolar aquaporin in young and mature leaf tissues of Brassica napus in relation to water fluxes

Recently, it has been shown that water fluxes across biological membranes occur not only through the lipid bilayer but also through specialized water-conducting proteins, the so called aquaporins. In the present study, we investigated in young and mature leaves of Brassica napus L. the expression and localization of a vacuolar aquaporin homologous to radish γ-tonoplast intrinsic protein/vacuolar-membrane integral protein of 23 kDa (TIP/VM 23). In-situ hybridization showed that these tonoplast aquaporins are highly expressed not only in developing but also in mature leaves, which export photosynthates. No substantial differences could be observed between different tissues of young and mature leaves. However, independent of the developmental stage, an immunohistochemical approach revealed that the vacuolar membrane of bundle-sheath cells contained more protein cross-reacting with antibodies raised against radish γ-TIP/VM 23 than the mesophyll cells. The lowest labeling was detected in phloem cells. We compared these results with the distribution of plasma-membrane aquaporins cross-reacting with antibodies detecting a domain conserved among members of the plasma-membrane intrinsic protein 1 (PIP1) subfamily. We observed the same picture as for the vacuolar aquaporins. Furthermore, a high density of gold particles labeling proteins of the PIP1 group could be observed in plasmalemmasomes of the vascular parenchyma. Our results indicate that γ-TIP/VM 23 and PIP1 homologous proteins show a similar expression pattern. Based on these results it is tempting to speculate that bundle-sheath cells play an important role in facilitating water fluxes between the apoplastic and symplastic compartments in close proximity to the vascular tissue.

Plant genotype affects the quality of oilseed rape (Brassica napus) for adults and larvae of the pollen beetle (Meligethes aeneus)

Plant quality is one of the main factors influencing the fitness of phytophagous insects. Plant quality can vary not only among genotypes of the same host plant species, but also relative to the insect sex or its life stage. In the present study, the performance of larvae and adults of the pollen beetle (Meligethes aeneus F., Coleoptera: Nitidulidae), a major insect pest of oilseed rape crops, is compared on six genotypes of oilseed rape (Brassica napus). All of the traits that are measured vary among genotypes, and comprise larval developmental duration, life span of unfed emerging adults and survival time of field-sampled adults fed with pollen from the different genotypes. No correlation is found between insect performance and quantity of food available, showing that the quality of the food (i.e. pollen) is the fitness determinant for this insect species. Additionally, the performance of larvae and adults is also not correlated despite use of the same plant genotypes, suggesting that the determinants of pollen quality differ at least partially between both life stages. It is hypothesized that this may be a result of extensive differences in diet breadth between the life stages: larvae are specialists of brassicaceous plants, whereas adults are generalists. Finally, it is suggested that the manipulation of plant quality to increase pollen beetle development time may comprise a valuable strategy for favouring biological control by natural enemies of this pest; for example, as a result of extending the vulnerability window of larvae to attack by parasitoids.

Using Leading Indicators to Forecast US Home Sales in a Bayesian VAR Framework

This paper uses Bayesian vector autoregressive models to examine the usefulness of leading indicators in predicting US home sales. The benchmark Bayesian model includes home sales, the price of homes, the mortgage rate, real personal disposable income, and the unemployment rate. We evaluate the forecasting performance of six alternative leading indicators by adding each, in turn, to the benchmark model. Out-of-sample forecast performance over three periods shows that the model that includes building permits authorized consistently produces the most accurate forecasts. Thus, the intention to build in the future provides good information with which to predict home sales. Another finding suggests that leading indicators with longer leads outperform the short-leading indicators.