Sea-surface temperature records of Termination 1 in the Gulf of California: Challenges for seasonal and interannual analogues of tropical Pacific climate change

Centennial-scale records of sea-surface temperature and opal composition spanning the Last Glacial Maximum and Termination 1 (circa 25–6 ka) are presented here from Guaymas Basin in the Gulf of California. Through the application of two organic geochemistry proxies, the U37K′ index and the TEX86H index, we present evidence for rapid, stepped changes in temperatures during deglaciation. These occur in both temperature proxies at 13 ka (∼3°C increase in 270 years), 10.0 ka (∼2°C decrease over ∼250 years) and at 8.2 ka (3°C increase in <200 years). An additional rapid warming step is also observed in TEX86H at 11.5 ka. In comparing the two temperature proxies and opal content, we consider the potential for upwelling intensity to be recorded and link this millennial-scale variability to shifting Intertropical Convergence Zone position and variations in the strength of the Subtropical High. The onset of the deglacial warming from 17 to 18 ka is comparable to a “southern hemisphere” signal, although the opal record mimics the ice-rafting events of the north Atlantic (Heinrich events). Neither the modern seasonal cycle nor El Niño/Southern Oscillation patterns provide valid analogues for the trends we observe in comparison with other regional records. Fully coupled climate model simulations confirm this result, and in combination we question whether the seasonal or interannual climate variations of the modern climate are valid analogues for the glacial and deglacial tropical Pacific.

Evaluating the Bank of England density forecasts of inflation

We consider evaluating the UK Monetary Policy Committee's inflation density forecasts using probability integral transform goodness-of-fit tests. These tests evaluate the whole forecast density. We also consider whether the probabilities assigned to inflation being in certain ranges are well calibrated, where the ranges are chosen to be those of particular relevance to the MPC, given its remit of maintaining inflation rates in a band around per annum. Finally, we discuss the decision-based approach to forecast evaluation in relation to the MPC forecasts

Identification of forged Bank of England £20 banknotes using IR spectroscopy

Bank of England notes of £20 denomination have been studied using infrared spectroscopy in order to generate a method to identify forged notes. An aim of this work was to develop a non-destructive method so that a small, compact Fourier transform infrared spectrometer (FT-IR) instrument could be used by bank workers, police departments or others such as shop assistants to identify forged notes in a non-lab setting. The ease of use of the instrument is the key to this method, as well as the relatively low cost. The presence of a peak at 1400 cm−1 arising from νasym () from the blank paper section of a forged note proved to be a successful indicator of the note’s illegality for the notes that we studied. Moreover, differences between the spectra of forged and genuine £20 notes were observed in the ν(OH) (ca. 3500 cm−1), ν(CH) (ca. 2900 cm−1) and ν(CO) (ca. 1750 cm−1) regions of the IR spectrum recorded for the polymer film covering the holographic strip. In cases where these simple tests fail, we have shown how an infrared microscope can be used to further differentiate genuine and forged banknotes by producing infrared maps of selected areas of the note contrasting inks with background paper.

What happens after the central bank of Brazil increases the target interbank rate by 1%?

I start presenting an explicit solution to Taylorís (2001) model, in order to illustrate the link between the target interest rate and the overnight interest rate prevailing in the economy. Next, I use Vector Auto Regressions to shed some light on the evolution of key macroeconomic variables after the Central Bank of Brazil increases the target interest rate by 1%. Point estimates show a four-year accumulated output loss ranging from 0:04% (whole sample, 1980 : 1-2004 : 2; quarterly data) to 0:25% (Post-Real data only) with a Örst-year peak output response between 0:04% and 1:0%; respectively. Prices decline between 2% and 4% in a 4-year horizon. The accumulated output response is found to be between 3:5 and 6 times higher after the Real Plan than when the whole sample is considered. The 95% confidence bands obtained using bias-corrected bootstrap always include the null output response when the whole sample is used, but not when the data is restricted to the Post-Real period. Innovations to interest rates explain between 4:9% (whole sample) and 9:2% (post-Real sample) of the forecast error of GDP.

What happens after the Central Bank of Brazil increases the target interbank rate by 1%?

In this paper I use Taylor's (2001) model and Vector Auto Regressions to shed some light on the evolution of some key macroeconomic variables after the Central Bank of Brazil, through the COPOM, increases the target interest rate by 1%. From a quantitative perspective, the best estimate from the empírical analysis, obtained with a 1994 : 2 - 2004 : 2 subsample of the data, is that GDP goes through an accumulated decline, over the next four years, around 0.08%. Innovations to interest rates explain around 9.2% of the forecast erro r of GDP.

The dynamics of specialist development banking: the case of the agriculture development bank of Trinidad and Tobago

Includes bibliography

Solar Forcing of Gulf of California Climate During The Past 2000 Yr Suggested by Diatoms and Silicoflagellates

High-resolution records of the past 2000 yr are compared in a north–south transect (28° N to 24° N) of three cores from the eastern slopes of the Guaymas, Carmen, and Pescadero Basins of the Gulf of California (hereafter referred to as the “Gulf”). Evenly-spaced samples from the varved sediments in each core allow sample resolution ranging from ∼ 16 to ∼ 37 yr. Diatoms and silicoflagellates capture the seasonal variation between a late fall to early spring period of high biosiliceous productivity, that is driven by northwest winds, and a summer period of warmer, more stratified waters during which these winds slacken and/or reverse direction (monsoonal flow). As these winds decrease, tropical waters enter the Gulf and spread northward. Individual samples represent a composite of 7 to 23 yr of deposition and are assumed to record the relative dominance of the winter vs. summer floral components. Intervals of enhanced summer incursion of tropical waters, alternating with periods of increased late fall to early spring biosiliceous productivity are recorded in all three cores. Regularly spaced cycles (∼ 100 yr duration) of Octactis pulchra, a silicoflagellate proxy for lower SST and high productivity, and Azpeitia nodulifera, a tropical diatom, occur between ∼ A.D. 400 and ∼ 1700 in the more nearshore Carmen Basin core, NH01-21 (26.3° N), suggesting a possible solar influence on coastal upwelling. Cores BAM80 E-17 (27.9° N) and NH01-26 (24.3° N) contain longer-duration cycles of diatoms and silicoflagellates. The early part of Medieval Climate Anomaly (∼ A.D. 900 to 1200) is characterized by two periods of reduced productivity (warmer SST) with an intervening high productivity (cool) interval centered at ∼ A.D. 1050. Reduced productivity and higher SST also characterize the record of the last ∼ 100 to 200 yr in these cores. Solar variability appears to be driving productivity cycles, as intervals of increased radiocarbon production (sunspot minima) correlate with intervals of enhanced productivity. It is proposed that increased winter cooling of the atmosphere above southwest U.S. during sunspot minima causes intensification of the northwest winds that blow down the Gulf during the late fall to early spring, leading to intensified overturn of surface waters and enhanced productivity. A new silicoflagellate species, Dictyocha franshepardii Bukry, is described and illustrated.

High Resolution Paleoceanography of the Guaymas Basin, Gulf of California, During the Past 15 000 Years

Deep Sea Drilling Project Site 480 (27°54.10’N, 111°39.34’W; 655 m water depth) contains a high resolution record of paleoceanographic change of the past 15 000 years for the Guaymas Basin, a region of very high diatom productivity within the central Gulf of California. Analyses of diatoms and silicoflagellates were completed on samples spaced every 40-50 yr, whereas ICP-AES geochemical analyses were completed on alternate samples (sample spacing 80-100 yr). The Bolling-Allerod interval (14.6-12.9 ka) (note, ka refers to 1000 calendar years BP throughout this report) is characterized by an increase in biogenic silica and a decline in calcium carbonate relative to surrounding intervals, suggesting conditions somewhat similar to those of today. The Younger Dryas event (12.9-11.6 ka) is marked by a major drop in biogenic silica and an increase in calcium carbonate. Increasing relative percentage contributions of Azpeitia nodulifera and Dictyocha perlaevis (a tropical diatom and silicoflagellate, respectively) and reduced numbers of the silicoflagellate Octactis pulchra are supportive of reduced upwelling of nutrient-rich waters. Between 10.6 and 10.0 ka, calcium carbonate and A. nodulifera abruptly decline at DSDP 480, while Roperia tesselata, a diatom indicative of winter upwelling in the modern-day Gulf, increases sharply in numbers. A nearly coincident increase in the silicoflagellate Dictyocha stapedia suggests that waters above DSDP 480 were more similar to the cooler and slightly more saline waters of the northern Gulf during much of the early and middle parts of the Holocene (~10 to 3.2 ka). At about 6.2 ka a stepwise increase in biogenic silica and the reappearance of the tropical diatom A. nodulifera marks a major change in oceanographic conditions in the Gulf. A winter shift to more northwesterly winds may have occurred at this time along with the onset of periodic northward excursions (El Nino-driven?) of the North Equatorial Countercurrent during the summer. Beginning between 2.8 and 2.4 ka, the amplitude of biogenic silica and wt% Fe, Al, and Ti (proxies of terrigenous input) increase, possibly reflecting intensification of ENSO cycles and the establishment of modern oceanographic conditions in the Gulf. Increased numbers of O. pulchra after 2.8 ka suggest enhanced spring upwelling.

The Gracilariaceae Germplasm Bank of the University of So Paulo, Brazil-a DNA barcoding approach

The University of So Paulo Gracilariaceae Germplasm Bank has 50 strains collected mostly in Brazil, but also elsewhere in the world. This bank has been used as a source of material for research developed locally and abroad. With over 200 species, some of which have high economic value, the family Gracilariaceae has been extensively studied. Nonetheless, taxonomic problems still persist by the existence of cryptic species, phenotypic plasticity, and broad geographic distribution. In the case of algae kept in culture for long periods of time, the identification is even more problematic as a consequence of considerable morphological modification. Thus, the use of molecular markers has been shown to be an efficient tool to elucidate taxonomic issues in the group. In this work, we sequenced the 5'-end of the cox1 gene for 41 strains and the universal plastid amplicon (UPA) plastid region for 45 strains, covering all 50 strains in the bank. In addition, the rbcL for representatives of the cox1/UPA clusters was sequenced for 14 strains. The original species identification based on morphology was compared with the molecular data obtained in this work, resulting in the identification of 13 different species. Our analyses indicate that cox1 and UPA are suitable markers for the delineation of species of Gracilariales in the germplasm bank. The addition of DNA barcode tags to the samples in the Gracilariaceae germplasm bank and the molecular identification of the species will make this bank even more useful for future research as the species can be easily traced and confirmed.

Dynamics of the Gulf of California (GC). A case study of the internal waves using synthetic aperture radar (SAR)

Calificación: Matrícula de Honor