Does the Federal Reserve Follow a Non-Linear Taylor Rule?

The Taylor rule has become one of the most studied strategies for monetary policy. Yet, little is known whether the Federal Reserve follows a non-linear Taylor rule. This paper employs the smooth transition regression model and asks the question: does the Federal Reserve change its policy-rule according to the level of inflation and/or the output gap? I find that the Federal Reserve does follow a non-linear Taylor rule and, more importantly, that the Federal Reserve followed a non-linear Taylor rule during the golden era of monetary policy, 1985-2005, and a linear Taylor rule throughout the dark age of monetary policy, 1960-1979. Thus, good monetary policy is associated with a non-linear Taylor rule: once inflation approaches a certain threshold, the Federal Reserve adjusts its policy-rule and begins to respond more forcefully to inflation.

Ueber Schäden, welche in den Baumschulen der Rosa canina durch die sogenannte rote Made "Diplosis oculiperda" verursacht werden

Von W. Bauer

Die rote Made (Rosenokulatenmücke) Diplosis oculiperda, Rübsaamen

O. Janorschke

Franklin Taylor, Brustbild

Signatur des Originals: S 36/F11209

Members of "The Samoan Expeditionary Force" who made the supreme sacrifice in the Great War, 1914-1918

[by Stephen John Smith, late 5th (Wellington) Regiment, secretary Samoa administration in military occupation, 1915-1918]

Mandating the HPV vaccine

Background. HPV is the underlying cause of cervical cancer, a malignant tumor of the female genital tract. Each year, cervical cancer is newly diagnosed in approximately 10,000 women, and over 3,000 women die from the malignancy. In addition, HPV is implicated as a cause of other cancers involving the genital tract, male and female, and the head and neck. ^ Gardasil, a vaccine against HPV, was licensed by the FDA in June 2006. Early study results have shown Gardasil to be safe and effective at preventing HPV infections that are commonly associated with the development of cervical cancer, as well as other HPV-related cancers and genital warts. The vaccine is most effective when administered in childhood, before initial exposure to HPV, which typically occurs shortly after the onset of sexual activity. Accordingly, the CDC's Advisory Committee on Immunization Practices (ACIP) has recommended routine vaccination of females aged 11-12 years. ^ Taking the ACIP recommendation one step further, many states have considered school-based mandates of the HPV vaccine in an attempt to reduce the burden of HPV-related illness, in particular to reduce the disparately high incidence of cervical cancer in medically underserved populations. These mandate attempts have sparked heated debate—highlighting public concerns regarding adolescent sexuality, corporate greed, and vaccines in general. ^ Methods. My research focuses on publicly available sources of information such as medical journals, government reports (federal and state), NGO reports, newspapers, and books. I begin with a background discussion of HPV, cervical cancer, and the HPV vaccine. I then discuss public health policy issues related to vaccines, vaccine mandates, and HPV-related illness. Specifically, I discuss the public health benefit of previous vaccine mandates, the legality of vaccine mandates, and the undue corporate influence on the politics of instituting HPV vaccine mandates. In addition, I examine some of the causes behind the anti-vaccine movement and the controversy surrounding adolescent sexuality as it pertains to the HPV vaccine. In the final section, I focus on the recent failed attempt by Governor Rick Perry to mandate the HPV vaccine in Texas. A retrospective analysis of Governor Perry's policy decisions is undertaken and recommendations are made regarding future attempts to mandate the HPV vaccine, or other vaccines under development for similar sexually transmitted viral diseases such as HIV and herpes simplex. ^ Results. In Texas, as in other states across the country, HPV vaccine mandates faced opposition from those who, while they may support mandates of other vaccines, oppose mandates for the HPV vaccine based largely on the idea that HPV is a sexually transmitted disease—they see responsible sexual behavior as the appropriate method for preventing HPV-related illness. A second major group of opposition comes from those who are generally opposed to all vaccine mandates, due to concerns that mandates are intended primarily for the financial benefit of the pharmaceutical industry or due to concerns—largely unfounded—that vaccines pose a greater health threat than the illnesses they are designed to prevent. ^ Conclusion. In order to reduce opposition to vaccine mandates, care must be taken to educate the public regarding the benefits of vaccination by mobilizing the public health sector, avoid the impression that the decision to institute mandates is rash or pressured by allowing time for open debate, and minimize lobbying efforts by vaccine manufacturers. ^

(Table 1) Paleomagnetic of ODP Leg 126 sites

A paleomagnetic study was made on the deep-marine sediments and volcanic rocks drilled by Ocean Drilling Program Leg 126 in the Izu-Bonin forearc region (Sites 787, 792, and 793). This study evaluates the sense and amount of the tectonic drift and rotation associated with the evolution of the Philippine Sea Plate and the Izu-Bonin Arc. Alternating-field and thermal demagnetization experiments show that most of the samples have stable remanence and are suitable for paleomagnetic studies. Paleomagnetic declinations were recovered by two methods of core orientation, one of which uses a secondary viscous magnetization vector of each specimen as an orientation standard, and the other of which is based on the data of downhole microresistivity measurement obtained by using a formation microscanner. Oligocene to early Miocene samples show 10° to 14° shallower paleolatitudes than those of the present. Middle Miocene to early Oligocene samples show progressive clockwise deflections (up to ~80°) in declination with time. These results suggest large northward drift and clockwise rotation of the Izu-Bonin forearc region since early Oligocene time. Considering previous paleomagnetic results from the other regions in the Philippine Sea, this motion may reflect large clockwise rotation of the whole Philippine Sea Plate over the past 40 m.y.

Aportes de Frederick W. Taylor : Dos caras de una misma moneda

La escuela de la administración científica es el punto de partida de la administración contemporánea. Uno de sus principales exponentes fue Frederick W. Taylor con su obra Principios de Administración Científica. Sus estudios comienzan en el año 1880, en un contexto político de corte totalmente autoritario; en lo social, la legislación laboral y sindical era muy escasa y en cuanto a lo económico, el desarrollo de la tecnología cambiaba la realidad de las organizaciones. Una de las críticas que los manuales de administración hacen al autor es que trató al hombre como a un engranaje más de la maquinaria. Si bien es cierto que en la obra se hace referencia a la productividad del hombre y de la máquina y que hay párrafos a través de los cuales podría inferirse esta asimilación hombre-máquina, no puede dejar de mencionarse que Taylor estudió al hombre y sus capacidades, con los recursos intelectuales de que dispuso, en ese contexto histórico y social al que se hace referencia. En ese marco el objetivo del presente trabajo es analizar y reflexionar sobre la mencionada obra de Taylor, plasmando diferentes perspectivas, intentando una crítica constructiva que promueva una mirada más amplia respecto de sus aportes