How did the Financial Crisis affect the Real Interest Rate Dynamics in Europe?

We investigate the effects of the financial crisis on the stationarity of real interest rates in the Euro Area. We use a new unit root test developed by Peseran et al. (2013) that allows for multiple unobserved factors in a panel set up. Our results suggest that while short-term and long-term real interest rates were stationary before the financial crisis, they became nonstationary during the crisis period likely due to persistent risk that characterized financial markets during that time. JEL codes: E43, C23. Keywords: Real interest rates, Euro Area, financial crisis, panel unit root tests, cross-sectional dependence.

Iowa State Center Business Office, Iowa State University of Science and Technology, Independent Auditor's Reports Financial Statements, June 30, 2003 & 2004

State University Audit Report

Développement de l'irrigation et évolution des régimes fonciers dans la région de Gaya (Niger)

Since the mid 90's, international actors as well as governmental actors have raised their interest into the development of irrigation's potential that is still largely unexploited in Niger. It seems all the more interesting as it could answer the needs of a fast growing population (3.3% per year). However, if everyone agrees on the need to development this system, the current implementation triggers questions on the process itself and its side effects. National and international policies on this matter were build upon an historical process through colonial, post-colonial and then the late 1980's neoliberal structures, leading to a business model that reveals a discrepancy between the state logic and the farming one. This business model asks for a high capacity of mobilization of resources unachievable for many, especially when they want to address small-scale irrigation (area business type project. Unfortunately, it reached mostly the new external players and local elites rather than the small farmers, notably due to the high illiteracy rate among farmers. In terms of land tenure analysis, the project excluded all farmers cultivating land on a loan or lease agreement and all those for whom it was difficult to obtain a title of ownership. However, this new interest for small-scale irrigation exerted by the project and the new players triggered the commoditization of land. As a matter of fact, the demographic constraints and the fragmentation of the familial land ownership led to a more individual production system, where the customary relation to land tenure is weakened or even overcome. This makes it easier for the new players who need to settle their small-scale irrigation projects to purchase land. When there are only few areas available for selling, the. purchasing processes are undermining the farmers with insecure rights. If the withdrawal of lands is supposed to be smoothened by social measures, such as replacement of the land and primary offers to purchase the land, those measures are often not attractive. The proposed land of replacement is frequently too far away located or lesser fertile to be of any use and the economic capacity of purchasing is too little, eventually leading the farmers to leave their terroirs. Those in charge of the application of the Rural Code have succeeding in answering the need of written secured land tenure, but have difficulty to meet the challenge of doing the same to secure rights for farmers with loans or lease agreements. The small-scale irrigation could bring an answer for their financial needs to buy the land, but it would require mobilizing resources to invest or an easier access to supportive projects. The economic benefice from small-scale irrigation is now widely recognized, but we have to take also into account the risks of marginalization of part of the small farmers. For a more widely spread exploitation of small-scale irrigation, the mechanism of land regulation as well as the process to access the financial and technical support of projects must be revised in order to reach more small farmers. Développement de l'irrigation et évolution des régimes fonciers dans la région de Gaya (Niger) - Le secteur de l'irrigation a bénéficié d'un regain d'intérêt de la part des acteurs internationaux du développement et de l'Etat nigérien depuis le milieu des années 1990. Cet intérêt est à la hauteur du potentiel en terres irrigables (300Ό00 ha environ) du pays, largement sous-exploité alors que les besoins alimentaires sont grandissants, la population augmentant de 3.3% par an. Si le diagnostic est correct, les stratégies mises en oeuvre en matière d'irrigation posent question. Les interventions, aussi bien publiques qu'internationales, reposent sur un modèle entrepreneurial qui parachève une longue trajectoire historique. Initiée par l'Etat colonial, poursuivie par l'Etat post-colonial et transformé par les politiques néolibérales des années 1980, elle se caractérise par un hiatus constant entre logiques étatiques et logiques paysannes. En matière de petite irrigation privée (surfaces < 1-2 ha, technologies à faible coût), ce modèle présuppose une mobilisation de ressources (économiques, sociales, éducationnelles et foncières) inégalement réparties au sein de la population rurale. Cette recherche s'est intéressée à expliciter les liens qui existent entre le développement de la petite irrigation privée et l'évolution des régimes fonciers. Les trois questionnements qui ont guidé l'analyse empirique portent sur la sécurisation foncière, les dynamiques de marchandisation de la terre et l'accès à la terre pour tous les producteurs. Le Département de Gaya dispose d'un potentiel très important en ressources hydriques, facilement mobilisables. Les productions maraîchères et fruitières ont connu un essor très important à partir des années 1980. Initialement pratiquées par les cultivateurs, elles ont progressivement attiré l'attention d'acteurs externes au monde rural (fonctionnaires, commerçants), du fait de leur haute valeur ajoutée. La Banque mondiale a fortement soutenu cette dynamique à travers un projet à vocation entrepreneuriale, qui s'est pourtant révélé hors de portée de la majorité des petits paysans et a principalement bénéficié à ces acteurs extra-ruraux ainsi qu'à certaines élites locales. Au plan foncier, il a en particulier exclu tous les emprunteurs des terres, qui ne sont pas à même de produire des documents écrits confirmant leurs droits sur la terre. Ce projet, et plus largement l'intérêt que les acteurs extra-ruraux portent à la petite irrigation, ont contribué à alimenter la marchandisation de la terre. Sans ancrage familial dans les terroirs villageois, ces acteurs sont obligés d'acheter la terre pour faire de l'irrigation. Leur demande vient s'inscrire dans un contexte général où la pression démographique et le morcellement successif des capitaux fonciers familiaux ont progressivement individualisé la relation entre les producteurs et la terre, au point d'affaiblir ou de faire tomber les interdits coutumiers en matière de vente. Dans les espaces disposant de faibles réserves foncières, les ventes se font principalement au détriment des acteurs qui, comme les emprunteurs, disposent de droits fonciers peu stables et sécurisés. Si le retrait de la terre est socialement encadré (terre en remplacement, possibilité d'acheter la terre qui va être vendue), il pose également des contraintes agronomiques (sols de moindre qualité) et économiques (nécessité de disposer des liquidités pour racheter la terre) qui peuvent, en dernier ratio, obligent les acteurs concernés à quitter les terroirs. Les instances du Code rural, qui ont su apporter des réponses satisfaisantes à la demande de sécurisation foncière par l'établissement de documents écrits, rencontrent aujourd'hui de grandes difficultés à en faire de même pour les droits de prêt. Dans ce contexte, l'irrigation peut apporter les sommes nécessaires à l'achat des terres. Encore faut-il que ces emprunteurs disposent des ressources financières propres pour la développer ou qu'ils puissent y avoir accès grâce à l'appui d'un projet. Si l'intérêt économique de la petite irrigation privée est indiscutable, les risques de marginalisation d'une partie de producteurs ruraux qu'elle peut produire sont bien réels. Pour en faire une activité accessible au plus grand nombre, il faut revoir les mécanismes de régulation foncière, ainsi que les montages techniques et financiers qui supportent le développement de ce secteur d'activité très prometteur.

The migration towards Digital Terrestrial Television: challenges for public policy and public broadcasters

This paper initially identifies the main transformations of the television system that are caused by digitalization. Its development in several broadcasting platforms is analyzed as well as the particular obstacles and requirements that are detected for each of them. Due to its technical characteristics and its historical link to the public services, the terrestrial network requires migration strategies different from those strictly commercial, and public intervention might be needed. The paper focuses on such migration strategies towards DTT and identifies the main issues for public intervention in the areas of the digital scenario: technology, business and market transformation and the reception field. Moreover, it describes and classifies the challenges that public broadcasters should confront due to digitalization. This paper finally concludes that the leadership of the public broadcasters during the migration towards DTT is an interesting tool for public policy. The need for foster the digitalization of the terrestrial platform and to achieve certain social and public goal besides the market interest brings an opportunity for public institutions and public broadcasters to work together. That leading role could also be positive for the public service to face its necessary redefinition and reallocation within the digital context.

Effects of long-term averaging of quantitative blood pressure traits on the detection of genetic associations.

Blood pressure (BP) is a heritable, quantitative trait with intraindividual variability and susceptibility to measurement error. Genetic studies of BP generally use single-visit measurements and thus cannot remove variability occurring over months or years. We leveraged the idea that averaging BP measured across time would improve phenotypic accuracy and thereby increase statistical power to detect genetic associations. We studied systolic BP (SBP), diastolic BP (DBP), mean arterial pressure (MAP), and pulse pressure (PP) averaged over multiple years in 46,629 individuals of European ancestry. We identified 39 trait-variant associations across 19 independent loci (p < 5 × 10(-8)); five associations (in four loci) uniquely identified by our LTA analyses included those of SBP and MAP at 2p23 (rs1275988, near KCNK3), DBP at 2q11.2 (rs7599598, in FER1L5), and PP at 6p21 (rs10948071, near CRIP3) and 7p13 (rs2949837, near IGFBP3). Replication analyses conducted in cohorts with single-visit BP data showed positive replication of associations and a nominal association (p < 0.05). We estimated a 20% gain in statistical power with long-term average (LTA) as compared to single-visit BP association studies. Using LTA analysis, we identified genetic loci influencing BP. LTA might be one way of increasing the power of genetic associations for continuous traits in extant samples for other phenotypes that are measured serially over time.

A targeted association study of immunity genes and networks suggests novel associations with placental malaria infection

A large proportion of the death toll associated with malaria is a consequence of malaria infection during pregnancy, causing up to 200,000 infant deaths annually. We previously published the first extensive genetic association study of placental malaria infection, and here we extend this analysis considerably, investigating genetic variation in over 9,000 SNPs in more than 1,000 genes involved in immunity and inflammation for their involvement in susceptibility to placental malaria infection. We applied a new approach incorporating results from both single gene analysis as well as gene-gene interactionson a protein-protein interaction network. We found suggestive associations of variants in the gene KLRK1 in the single geneanalysis, as well as evidence for associations of multiple members of the IL-7/IL-7R signalling cascade in the combined analysis. To our knowledge, this is the first large-scale genetic study on placental malaria infection to date, opening the door for follow-up studies trying to elucidate the genetic basis of this neglected form of malaria.

OSIRISv1.2: a named entity recognition system for sequence variants of genes in biomedical literature

Background: Single Nucleotide Polymorphisms, among other type of sequence variants, constitute key elements in genetic epidemiology and pharmacogenomics. While sequence data about genetic variation is found at databases such as dbSNP, clues about the functional and phenotypic consequences of the variations are generally found in biomedical literature. The identification of the relevant documents and the extraction of the information from them are hampered by the large size of literature databases and the lack of widely accepted standard notation for biomedical entities. Thus, automatic systems for the identification of citations of allelic variants of genes in biomedical texts are required. Results: Our group has previously reported the development of OSIRIS, a system aimed at the retrieval of literature about allelic variants of genes http://ibi.imim.es/osirisform.html. Here we describe the development of a new version of OSIRIS (OSIRISv1.2, http://ibi.imim.es/OSIRISv1.2.html webcite) which incorporates a new entity recognition module and is built on top of a local mirror of the MEDLINE collection and HgenetInfoDB: a database that collects data on human gene sequence variations. The new entity recognition module is based on a pattern-based search algorithm for the identification of variation terms in the texts and their mapping to dbSNP identifiers. The performance of OSIRISv1.2 was evaluated on a manually annotated corpus, resulting in 99% precision, 82% recall, and an F-score of 0.89. As an example, the application of the system for collecting literature citations for the allelic variants of genes related to the diseases intracranial aneurysm and breast cancer is presented. Conclusion: OSIRISv1.2 can be used to link literature references to dbSNP database entries with high accuracy, and therefore is suitable for collecting current knowledge on gene sequence variations and supporting the functional annotation of variation databases. The application of OSIRISv1.2 in combination with controlled vocabularies like MeSH provides a way to identify associations of biomedical interest, such as those that relate SNPs with diseases.

Iowa State Center Business Office, Iowa State University of Science and Technology, Independent Auditor's Reports, Financial Statements, June 30, 2004 & 2005

State University Audit Report

2000 Summary Iowa Beef Cow Business Record, 2001

2000 Summary Iowa Beef Cow Business Record

Business Organization and Coordination in Marketing Specialty Hogs: A Comparative Analysis of Two Firms from Iowa, November 2005

We study business organization and coordination of specialty-market hog production using a comparative analysis of two Iowa pork niche-marketing firms. We describe and analyze each firms management of five key organizational challenges: planning and logistics, quality assurance, process verication and management of �credence attributes,� business structure, and profit sharing. Although each firm is engaged in essentially the same activity, there are substantial differences across the two firms in the way production and marketing are coordinated. These differences are partly explained by the relative size and age of each firm, thus highlighting the importance of organizational evolution in agricultural markets, but are also partly the result of a formal organizational separation between marketing and production activities in one of the firm.

Vitamin D levels and associated factors: a population-based study in Switzerland.

QUESTIONS UNDER STUDY: To update the prevalence of vitamin D insufficiency and to identify factors associated with vitamin D status in the Swiss adult population. METHODS: Data from the 2010-2011 Swiss Study on Salt intake, a population-based study in the Swiss population, was used. Vitamin D concentration in serum was measured by liquid chromatography- tandem mass spectrometry. Major factors that influence vitamin D levels were taken into account. Survey statistical procedures were used to estimate means and prevalences of vitamin D levels and status. Monthly-specific tertiles of vitamin D and ordinal logistic regression were used to determine the associations of covariates of interest with vitamin D status. RESULTS: The prevalences of vitamin D insufficiency (serum 25-hydroxyvitamin D: 20-29.9 ng/ml) and deficiency (<20 ng/ml) were the highest in the January-March period; 26.4% (95%CI: 21.6-31.7) and 61.6% (95%CI: 56.0-67.0), respectively. In the same period, more than 9 of ten men were vitamin D insufficient or deficient. Each unit increase of Body Mass Index was associated with an 8% decreased likelihood of being in a higher vitamin D tertiles. Oral contraceptive, altitude, urinary excretion of calcium, use of vitamin D supplement or treatment, high wine consumption, physical activity were associated with vitamin D tertiles. Compared to the French-speaking region, the Italian-speaking region was independently associated with a higher likelihood of being in higher vitamin D tertiles (OR: 1.66, 95%CI: 1.14-2.43). CONCLUSIONS: Low levels of vitamin D are common among Swiss adults, in particular during winter months and outside the Italian-speaking region.

Business Service Training Annual Report, FY 2005

Annual Report