Hawtreyan “Credit Deadlock” or Keynesian “Liquidity Trap”? Lessons for Japan from the Great Depression

This paper outlines the ideas of Ralph Hawtrey and Lauchlin Currie on the need for monetised fiscal deficit spending in 1930s USA to combat the deep depression into which the economy had been allowed to sink. In such exceptional circumstances of “credit deadlock” in which banks were afraid to lend and households and business afraid to borrow, the deadlock could best be broken through the spending of new money into circulation via large fiscal deficits. This complementarity of fiscal and monetary policy was shown to be essential, and as such indicates the potential power of monetary policy – in contrast to the Keynesian “liquidity trap” view that it is powerless This lesson was not learned by the Japanese authorities in their response to the asset price collapse of 1991-92, resulting in a lost decade as ballooning fiscal deficits were neutralised throughout the 1990s by unhelpfully tight monetary policy with the Bank of Japan refusing to monetise the deficits.

Acute fractures of medial and lateral great toe sesamoids in an athlete.

We report a case of acute fracture of both sesamoids of the great toe in an athlete. The fractures healed uneventfully after non-surgical treatment.

Adaptable pulmonary artery band for late arterial switch procedure in transposition of the great arteries.

BACKGROUND: In late-diagnosed transposition of the great arteries (TGA), the left ventricle (LV) involutes as it pumps against low resistance and needs retraining by applying a pulmonary artery band (PAB) in preparation for an arterial switch operation. We report our experience with a telemetrically adaptable band compared with classic banding. METHODS: Ten patients underwent retraining of the LV, 4 patients with an adaptable band and progressive weekly tightening of the band (group 1) and 6 patients with a traditional band (group 2). RESULTS: Mean weight and age at pulmonary band placement was 5.8 ± 2.36 kg and 11.7 ± 11.1 months for group 1 and 5.0 ± 2.3 kg and 6.4 ± 7.6 months for group 2. Time between palliation and switch procedure was 4.2 months in both groups. Group 1 showed an initial mean pulmonary gradient of 25.5 ± 4.43 mm Hg with a 5% closure of the device. The mean gradient increased with progressive closure to 63.5 ± 9.8 mm Hg at the time of the arterial switch operation. There were no reinterventions or deaths in this group. In group 2, the mean pulmonary gradient increased with growth from 49 ± 21.4 mm Hg to 68.4 ± 7.86 mm Hg at the time of the switch procedure. However, 4 of these patients required reoperations during retraining: 2 needed 1 reoperation and 2 needed 2 reoperations. Two patients died-1 after banding and 1 after the switch operation. CONCLUSIONS: Retraining of the LV by the adaptable device allows precise control of the tightening, avoids repetitive operations, and diminishes morbidity.

Breastfeeding - A Great Start: A Strategy for Northern Ireland 2013-2023 (PDF 2.6MB)

The purpose of the Strategy is to improve the health and well-being of mothers and babies in Northern Ireland through breastfeeding. It sets out the strategic direction to protect, promote, support and normalise breastfeeding in Northern Ireland for the next ten years.

Breastfeeding - A Great Start: A Strategy for Northern Ireland 2013-2023 (Online Publication)

The purpose of the Strategy is to improve the health and well-being of mothers and babies in Northern Ireland through breastfeeding. It sets out the strategic direction to protect, promote, support and normalise breastfeeding in Northern Ireland for the next ten years.

Guidance on the transfer of mentally disordered patients detained under the Mental Health (NI) Order 1986 to and from Hospitals in Great Britain - August 2011 (PDF 101 KB)

Guidance on the transfer of mentally disordered patients detained under the Mental Health (NI) Order 1986 to and from Hospitals in Great Britain - August 2011.

Immunocompetence and nestling survival in the house martin: the tasty chick hypothesis

In altricial birds post-fledging survival is usually positively related to nestling body mass. A large number of studies have shown that the latest hatched chick is the more likely to die, even if food is abundant. Here we suggest that ectoparasites may be a key factor in the evolution and the maintenance of the establishment of weight hierarchies within broods. We prepose the hypothesis that weight hierarchies within broods may be adaptive if the chick in poor condition is the one with the least efficient immune system within a nest. In this case parasites would preferentially feed on such a "tasty chick", because it would allow high reproductive rates for the parasites, without negatively affecting the survival of the other nestlings. This could prevent entire nest failure of the brood or allow the other chicks to grow more efficiently. This hypothesis was investigated in a colony of house martins Delichon urbica. We predicted that immunocompetence was positively correlated with body condition, and that nestlings dying before hedging should have lower immune responses when challenged with an antigen. T-cell immune response to an experimentally injected antigen was strongly positively related to body condition. Non-surviving chicks had low body condition and a weak immune response. The implications of these results are discussed in the context of the adaptive significance of hatching asynchrony.

Young People's Health in Great Britain and Ireland: Findings from the Health Behaviour in School-Aged Children (HBSC)Survey, 2006.

This report presents data from the 2006 Health Behaviour in School-aged Children (HBSC) survey; a World Health Organization (WHO) collaborative cross-national study and focuses on data collected from young people in England, Ireland, Scotland and Wales. It expands on the findings from the international report Inequalities in Young People's Health (Currie et al, 2008), with additional variables and prevalence rates that allows more comprehensive and focussed comparisons to be made between the four countries.This resource was contributed by The National Documentation Centre on Drug Use.

Mental health of children and young people in Great Britain, 2004

This report first describes the prevalence of mental disorders among 5- to 16-year olds in 2004 and notes any changes since the previous survey in 1999. It then provides profiles of children in each of the main disorder categories (emotional, conduct, hyperkinetic and autistic spectrum disorders) and , where the sample size permits, profiles subgroups within these categories.

Condition-dependent genetic benefits of extrapair fertilization in female blue tits Cyanistes caeruleus.

In many socially monogamous birds, both partners perform extrapair copulations (EPC). As this behaviour potentially inflicts direct costs on females, they are currently hypothesized to search for genetic benefits for descendants, either as 'good' or 'complementary' genes. Although these hypotheses have found some support, several studies failed to find any beneficial consequence of EPC, and whether this behaviour is adaptive to females is subject to discussion. Here, we test these two hypotheses in a natural population of blue tits by accounting for the effect of most parameters known to potentially affect extrapair fertilization. Results suggest that female body mass affected the type of extrapair genetic benefits obtained. Heavy females obtained extrapair fertilizations when their social male was of low quality (as reflected by sexual display) and produced larger extrapair than within-pair chicks. Lean females obtained extrapair fertilizations when their social mate was genetically similar, thereby producing more heterozygous extrapair chicks. Our results suggest that mating patterns may be condition-dependent.

Leaving the labour market: event-history analysis of the female workers' transition to housework in Denmark, Germany, Great Britain and Spain

This paper is aimed at exploring the determinants of female activity from a dynamic perspective. An event-history analysis of the transition form employment to housework has been made resorting to data from the European Household Panel Survey. Four countries representing different welfare regimes and, more specifically, different family policies, have been selected for the analysis: Britain, Denmark, Germany and Spain. The results confirm the importance of individual-level factors, which is consistent with an economic approach to female labour supply. Nonetheless, there are significant cross-national differences in how these factors act over the risk of abandoning the labour market. First, the number of trnasitions is much lower among Danish working women than among British, German or Spanish ones, revealing the relative importance of universal provision of childcare services, vis-à-vis other elements of the family policy, as time or money.

Great River Regional Waste Authority, Auditor of State's Report, For the Period July 1, 2002 through June 30, 2003, and Selected Activity through June 30, 2005

Other Audit Reports