A comparison of tests of non-linear cointegration with an application to the predictability of US interest rates using the term structure

We test whether there are nonlinearities in the response of short- and long-term interest rates to the spread in interest rates, and assess the out-of-sample predictability of interest rates using linear and nonlinear models. We find strong evidence of nonlinearities in the response of interest rates to the spread. Nonlinearities are shown to result in more accurate short-horizon forecasts, especially of the spread.

Comparison of a trained sensory panel and an electronic tongue in the assessment of bitter dairy protein hydrolsates

The bitter taste elicited by dairy protein hydrolysates (DPH) is a renowned issue for their acceptability by consumers and therefore incorporation into foods. The traditional method of assessment of taste in foods is by sensory analysis but this can be problematic due to the overall unpleasantness of the samples. Thus, there is a growing interest into the use of electronic tongues (e-tongues) as an alternative method to quantify the bitterness in such samples. In the present study the response of the e-tongue to the standard bitter agent caffeine and a range of both casein and whey based hydrolysates was compared to that of a trained sensory panel. Partial least square regression (PLS) was employed to compare the response of the e-tongue and the sensory panel. There was strong correlation shown between the two methods in the analysis of caffeine (R2 of 0.98) and DPH samples with R2 values ranging from 0.94-0.99. This study exhibits potential for the e-tongue to be used in bitterness screening in DPHs to reduce the reliance on expensive and time consuming sensory panels.

Tropical palaeoclimates at the Last Glacial Maximum: comparison of Palaeoclimate Modeling Intercomparison Project (PMIP)simulations and paleodata.

Seventeen simulations of the Last Glacial Maximum (LGM) climate have been performed using atmospheric general circulation models (AGCM) in the framework of the Paleoclimate Modeling Intercomparison Project (PMIP). These simulations use the boundary conditions for CO2, insolation and ice-sheets; surface temperatures (SSTs) are either (a) prescribed using CLIMAP data set (eight models) or (b) computed by coupling the AGCM with a slab ocean (nine models). The present-day (PD) tropical climate is correctly depicted by all the models, except the coarser resolution models, and the simulated geographical distribution of annual mean temperature is in good agreement with climatology. Tropical cooling at the LGM is less than at middle and high latitudes, but greatly exceeds the PD temperature variability. The LGM simulations with prescribed SSTs underestimate the observed temperature changes except over equatorial Africa where the models produce a temperature decrease consistent with the data. Our results confirm previous analyses showing that CLIMAP (1981) SSTs only produce a weak terrestrial cooling. When SSTs are computed, the models depict a cooling over the Pacific and Indian oceans in contrast with CLIMAP and most models produce cooler temperatures over land. Moreover four of the nine simulations, produce a cooling in good agreement with terrestrial data. Two of these model results over ocean are consistent with new SST reconstructions whereas two models simulate a homogeneous cooling. Finally, the LGM aridity inferred for most of the tropics from the data, is globally reproduced by the models with a strong underestimation for models using computed SSTs.

An inter-hemispheric comparison of the tropical storm response to global warming

Model studies do not agree on future changes in tropical cyclone (TC) activity on regional scales. We aim to shed further light on the distribution, frequency, intensity, and seasonality of TCs that society can expect at the end of the twenty-first century in the Southern hemisphere (SH). Therefore, we investigate TC changes simulated by the atmospheric model ECHAM5 with T213 (~60 km) horizontal resolution. We identify TCs in present-day (20C; 1969–1990) and future (21C; 2069–2100) time slice simulations, using a tracking algorithm based on vorticity at 850 hPa. In contrast to the Northern hemisphere (NH), where tropical storm numbers reduce by 6 %, there is a more dramatic 22 % reduction in the SH, mainly in the South Indian Ocean. While an increase of static stability in 21C may partly explain the reduction in tropical storm numbers, stabilization cannot alone explain the larger SH drop. Large-scale circulation changes associated with a weakening of the Tropical Walker Circulation are hypothesized to cause the strong decrease of cyclones in the South Indian Ocean. In contrast the decrease found over the South Pacific appears to be partly related to increased vertical wind shear, which is possibly associated with an enhanced meridional sea surface temperature gradient. We find the main difference between the hemispheres in changes of the tropical cyclones of intermediate strength with an increase in the NH and a decrease in the SH. In both hemispheres the frequency of the strongest storms increases and the frequency of the weakest storms decreases, although the increase in SH intense storms is marginal.

Neural stem cells, inflammation and NF-kappaB: basic principle of maintenance and repair or origin of brain tumours?

Several recent reports suggest that inflammatory signals play a decisive role in the self-renewal, migration and differentiation of multipotent neural stem cells (NSCs). NSCs are believed to be able to ameliorate the symptoms of several brain pathologies through proliferation, migration into the area of the lesion and either differentiation into the appropriate cell type or secretion of anti-inflammatory cytokines. Although NSCs have beneficial roles, current evidence indicates that brain tumours, such as astrogliomas or ependymomas are also caused by tumour-initiating cells with stem-like properties. However, little is known about the cellular and molecular processes potentially generating tumours from NSCs. Most pro-inflammatory conditions are considered to activate the transcription factor NF-kappaB in various cell types. Strong inductive effects of NF-kappaB on proliferation and migration of NSCs have been described. Moreover, NF-kappaB is constitutively active in most tumour cells described so far. Chronic inflammation is also known to initiate cancer. Thus, NF-kappaB might provide a novel mechanistic link between chronic inflammation, stem cells and cancer. This review discusses the apparently ambivalent role of NF-kappaB: physiological maintenance and repair of the brain via NSCs, and a potential role in tumour initiation. Furthermore, it reveals a possible mechanism of brain tumour formation based on inflammation and NF-kappaB activity in NSCs.

Quantifying the role of biosphere-atmosphere feedbacks in climate change: coupled model simulation for 6000 years B.P. and comparison with palaeodata for northern Eurasia and northern Africa

The LMD AGCM was iteratively coupled to the global BIOME1 model in order to explore the role of vegetation-climate interactions in response to mid-Holocene (6000 y BP) orbital forcing. The sea-surface temperature and sea-ice distribution used were present-day and CO2 concentration was pre-industrial. The land surface was initially prescribed with present-day vegetation. Initial climate “anomalies” (differences between AGCM results for 6000 y BP and control) were used to drive BIOME1; the simulated vegetation was provided to a further AGCM run, and so on. Results after five iterations were compared to the initial results in order to identify vegetation feedbacks. These were centred on regions showing strong initial responses. The orbitally induced high-latitude summer warming, and the intensification and extension of Northern Hemisphere tropical monsoons, were both amplified by vegetation feedbacks. Vegetation feedbacks were smaller than the initial orbital effects for most regions and seasons, but in West Africa the summer precipitation increase more than doubled in response to changes in vegetation. In the last iteration, global tundra area was reduced by 25% and the southern limit of the Sahara desert was shifted 2.5 °N north (to 18 °N) relative to today. These results were compared with 6000 y BP observational data recording forest-tundra boundary changes in northern Eurasia and savana-desert boundary changes in northern Africa. Although the inclusion of vegetation feedbacks improved the qualitative agreement between the model results and the data, the simulated changes were still insufficient, perhaps due to the lack of ocean-surface feedbacks.

An assessment of upper ocean salinity content from the ocean reanalyses inter-comparison project (ORA-IP)

Many institutions worldwide have developed ocean reanalyses systems (ORAs) utilizing a variety of ocean models and assimilation techniques. However, the quality of salinity reanalyses arising from the various ORAs has not yet been comprehensively assessed. In this study, we assess the upper ocean salinity content (depth-averaged over 0–700 m) from 14 ORAs and 3 objective ocean analysis systems (OOAs) as part of the Ocean Reanalyses Intercomparison Project. Our results show that the best agreement between estimates of salinity from different ORAs is obtained in the tropical Pacific, likely due to relatively abundant atmospheric and oceanic observations in this region. The largest disagreement in salinity reanalyses is in the Southern Ocean along the Antarctic circumpolar current as a consequence of the sparseness of both atmospheric and oceanic observations in this region. The West Pacific warm pool is the largest region where the signal to noise ratio of reanalysed salinity anomalies is >1. Therefore, the current salinity reanalyses in the tropical Pacific Ocean may be more reliable than those in the Southern Ocean and regions along the western boundary currents. Moreover, we found that the assimilation of salinity in ocean regions with relatively strong ocean fronts is still a common problem as seen in most ORAs. The impact of the Argo data on the salinity reanalyses is visible, especially within the upper 500m, where the interannual variability is large. The increasing trend in global-averaged salinity anomalies can only be found within the top 0–300m layer, but with quite large diversity among different ORAs. Beneath the 300m depth, the global-averaged salinity anomalies from most ORAs switch their trends from a slightly growing trend before 2002 to a decreasing trend after 2002. The rapid switch in the trend is most likely an artefact of the dramatic change in the observing system due to the implementation of Argo.

Inter-comparison of stratospheric mean-meridional circulation and eddy mixing among six reanalysis data sets

The stratospheric mean-meridional circulation (MMC) and eddy mixing are compared among six meteorological reanalysis data sets: NCEP-NCAR, NCEP-CFSR, ERA-40, ERA-Interim, JRA-25, and JRA-55 for the period 1979–2012. The reanalysis data sets produced using advanced systems (i.e., NCEP-CFSR, ERA-Interim, and JRA-55) generally reveal a weaker MMC in the Northern Hemisphere (NH) compared with those produced using older systems (i.e., NCEP/NCAR, ERA-40, and JRA-25). The mean mixing strength differs largely among the data products. In the NH lower stratosphere, the contribution of planetary-scale mixing is larger in the new data sets than in the old data sets, whereas that of small-scale mixing is weaker in the new data sets. Conventional data assimilation techniques introduce analysis increments without maintaining physical balance, which may have caused an overly strong MMC and spurious small-scale eddies in the old data sets. At the NH mid-latitudes, only ERA-Interim reveals a weakening MMC trend in the deep branch of the Brewer–Dobson circulation (BDC). The relative importance of the eddy mixing compared with the mean-meridional transport in the subtropical lower stratosphere shows increasing trends in ERA-Interim and JRA-55; this together with the weakened MMC in the deep branch may imply an increasing age-of-air (AoA) in the NH middle stratosphere in ERA-Interim. Overall, discrepancies between the different variables and trends therein as derived from the different reanalyses are still relatively large, suggesting that more investments in these products are needed in order to obtain a consolidated picture of observed changes in the BDC and the mechanisms that drive them.

Securitização de recebíveis da agroenergia: um estudo de caso baseado em títulos do agronegócio

Desde o final da década de 90, a securitização de ativos vem se firmando no mercado brasileiro como uma importante alternativa de captação de recursos. Essa inovação financeira permite às empresa o acesso direto ao mercado de capitais, para a venda de títulos lastreados em suas carteiras de recebíveis, eliminando a intermediação bancária e permitindo reduções no custo de capital, inclusive em comparação com títulos convencionais de dívida corporativa. Os títulos de securitização são em regra emitidos por um veículo de propósito específico (FIDC ou companhia securitizadora), com o objetivo de segregar os riscos do originador/tomador em relação aos créditos securitizados (lastro da emissão). Em 2004, a Lei 11.076 criou os novos títulos do agronegócio (CDA-WA, CDCA, LCA e CRA), inspirada na legislação da securitização imobiliária (SFI - Lei 9.514/97), buscando disponibilizar ao agronegócio uma nova fonte de recursos, via emissão de títulos no mercado de capitais. Desde então, um número crescente de operações estruturadas com esses papéis pôde ser observada, demonstrando sua funcionalidade e potencial. No entanto, o volume de captações públicas mais sofisticadas fundadas na emissão de cotas de FIDCs e de CRAs ainda se apresenta muito reduzida em relação à demanda do agronegócio por financiamento, sobretudo levando-se em conta a representatividade desse setor no Brasil. O setor sucro-energético é provavelmente o segmento do agronegócio que está em melhor posição para o desenvolvimento de operações de securitização, por apresentar características como: escala, padronização dos produtos, grau de consolidação dos grupos empresariais e perspectivas de crescimento, além do forte apelo ambiental. Os papéis associados a esse segmento possuem, dessa forma, um potencial singular para superar a resistência natural de investidores às aplicações financeiras na área agrícola. Este trabalho dedica-se a investigar como o conceito de securitização pode ser aplicado em operações ligadas ao agronegócio, particularmente ao setor sucro-alcooleiro. A partir de um estudo de caso, serão analisados aspectos operacionais de uma emissão pública de CRAs, ressaltando os mecanismos e procedimentos adotados para lidar com as particularidades dos títulos oriundos do agronegócio. O estudo mostra que a estruturação desse tipo de operação apresenta algumas características e desafios diferentes das operações fundadas em outros papéis, porém a priori administráveis a partir das técnicas tradicionais de securitização e da incorporação de mecanismos suplementares de gestão de riscos.

Comparison between ELISA using total antigen and immunochromatography with antigen rK39 in the diagnosis of canine visceral leishmaniasis

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

A comparison of the allometric growth in Uca leptodactyla (Crustacea : Brachyura : Ocypodidae) from two subtropical estuaries

The allometric growth of Uca leptodacyla from two distinct subtropical estuaries on the Brazilian coast was evaluated concerning its growth pattern and size at onset of sexual maturity. Females attained maturity at similar sizes in both sites (4.1 mm of carapace length in Indaia and 4.2 mm in Ubatumirim), while males differed slightly. They reached the size at sexual maturity of 5.3 mm of carapace length in Indaia and 4.6 mm in Ubatumirim. Growth pattern is Usually similar among crabs from distinct Sites while size at sexual maturity is frequently different. However, in the case of U. leptodacyla it did not occur, probably due to the strong habitat similarity and intrinsic features of this species.

A comparison between overweight cutoff points for detection of high blood pressure in adolescents

Objectives: To evaluate the accuracy of three different cutoff points for the detection of high blood pressure in adolescents, given the strong relationship between overweight and high blood pressure levels.Methods: A total of 1,021 adolescents of both sexes were enrolled in the study, selected at random from public and private schools in Londrina, Brazil. Their body weight was measured using a digital balance, and their height with a portable stadiometer with a maximum extension of 2 meters. Arterial blood pressure was measured using an automatic apparatus. The capacity of body mass index to detect high blood pressure was gauged using ROC curves and their parameters (sensitivity, specificity, and area under the curve).Results: The cutoff points proposed in a Brazilian standard exhibited greater accuracy (males: 0.636 +/- 0.038; females: 0.585 +/- 0.043) than the cutoff points proposed in an international (males: 0.594 +/- 0.040; females: 0.570 +/- 0.044) and a North-American standard (males: 0.612 +/- 0.039; females: 0.578 +/- 0.044).Conclusions: The Brazilian proposal offered greatest accuracy for indicating high blood pressure levels.

Strong D* -> D pi and B* -> B pi couplings

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Comparison of behavioral and clinical effects of intravenous amitraz or romifidine administration in horses

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Comparison of different clean-up procedures for the determination of N-methylcarbamate insecticides in vegetable matrices by high-performance liquid chromatography with UV detection

Several clean-up procedures which included the use of glass chromatography columns (silica gel, alumina, Florisil, silanized Celite-charcoal), Sep-Pak cartridges and standard solutions were compared for the determination of the following N-methylcarbamate (NMC) insecticides: aldicarb, carbaryl, carbofuran, methomyl and propoxur. According to recovery results of the compounds after elution in a glass column, the most efficient systems employed 4.6% deactivated alumina and a silanized Celite-charcoal (4:1) as adsorbents, using dichloromethane-methanol (99:1) and toluene-acetonitrile (75:25) mixtures, respectively, as binary eluents. The recoveries of the compounds studied varied from 84 to 120%. Comparable recoveries (75-100%) for Sep-Pak cartridges in normal phase (NH2, CN) and reversed phase (C-8) were observed. Different temperatures were tested during the concentration step in a rotary evaporator, and we verified a strong influence of this parameter on the stability of some compounds, such as carbofuran and carbaryl. Recovery studies employing the best clean up procedures were performed at the Brazilian agricultural level in potato and carrot samples; Validation methodology of the US Food and Drug Administration was adapted for the N-methylcarbamate analysis. Their recoveries ranged between 79 and 93% with coefficients of variation of 2.3-8%. (C) 1998 Elsevier B.V. B.V.