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Deflation
Kinds of Deflation Selected AbstractsSPECIAL SECTION ON DEFLATION AND MACROECONOMIC ISSUES IN HONG KONG: INTRODUCTIONPACIFIC ECONOMIC REVIEW, Issue 2 2005Kenneth S. Chan No abstract is available for this article. [source] The role of playas in pedogenic gypsum crust formation in the Central Namib Desert: a theoretical modelEARTH SURFACE PROCESSES AND LANDFORMS, Issue 11 2001F. D. Eckardt Abstract The formation of Namibia's extensive pedogenic gypsum crusts (CaSO4·2H2O) is interpreted in a new light. It is suggested that gypsum primarily precipitates at isolated points of evaporitic concentration, such as inland playas, and that deflation of evaporitic-rich gypsum dust from these playas contributes to the formation of pedogenic gypsum duricrusts on the coastal gravel plains of the Namib Desert surrounding these playas. This study establishes the nature, extent and distribution of playas in the Central Namib Desert and provides evidence for playa gypsum deflation and gravel plain deposition. Remote sensing shows the distribution of playas, captures ongoing deflation and provides evidence of gypsum deflation. It is proposed that, following primary marine aerosol deposition, both inland playas and coastal sabkhas generate gypsum which through the process of playa deflation and gravel plain redeposition contributes to the extensive pedogenic crusts found in the Namib Desert region. Copyright © 2001 John Wiley & Sons, Ltd. [source] Assessment of Acute Right Ventricular Dysfunction Induced by Right Coronary Artery Occlusion Using Echocardiographic Atrioventricular Plane DisplacementECHOCARDIOGRAPHY, Issue 6 2000Alpesh R. Shah M.D. Right ventricular (RV) systolic function analysis by echocardiography has traditionally required RV endocardial border definition with subsequent tracing and is often inaccurate or impossible in technically poor studies. The atrioventricular plane displacement (AVPD) method attempts to use the descent of the tricuspid annular ring, a reflection of the longitudinal shortening of the right ventricle, as a surrogate marker for RV systolic function. We hypothesized that RV ischemia induced during right coronary artery occlusion proximal to the major right ventricular branches would result in severe right ventricular systolic dysfunction detectable by the AVPD method. During this pilot study, seven patients undergoing elective proximal RCA angioplasty had echocardiographic measurement of RV AVPD performed at baseline (i.e., immediately prior to RCA balloon inflation), during the last 30 seconds of first RCA balloon inflation, and at 1 minute after balloon deflation (recovery). Lateral and medial RV AVPD were significantly reduced from baseline values during intracoronary balloon inflation. (Lateral: 2.45 cm ± 0.22 vs 1.77 cm ± 0.13, P < 0.001; medial: 1.46 cm ± 0.37 vs 1.28 cm ± 0.32, P < 0.05). Additionally, lateral and medial RV AVPD significantly returned towards baseline values during recovery. (Lateral: 2.39 cm ± 0.20, P < 0.001; medial: 1.58 cm ± 0.27, P = 0.01). At baseline, all lateral RV AVPD values were > 2.0 cm, whereas during balloon inflation all were < 2.0 cm. No such clear distinction was found in medial RV AVPD values. Proximal RCA angioplasty is associated with a significant reduction in lateral and medial RV AVPD. Thus RV AVPD may serve as a marker for RV systolic dysfunction. [source] The Taylor Rule and Dynamic Stability in a Small Macroeconomic ModelECONOMIC NOTES, Issue 3 2003David Chappell In this paper, we embed the Taylor interest rate rule in a simple macroeconomic model with Calvo contracts. We contrast this with the case in which the interest rate is determined by the conventional LM curve along with a fixed value for the monetary aggregate. We derive conditions under which the adjustment of the economy is characterized by a unique saddle,path and show that the conditions required for this to be the case are more stringent when the authorities adopt the Taylor rule. In both cases, the possible failure of the saddle,path condition arises when there are debt,deflation effects in the IS curve. If interest rates are set according to the Taylor rule, then debt,deflation is always enough to cause the failure of the saddle,path condition. However, when interest rates are determined by the LM curve then it is possible that the real balance effect from the LM curve may offset the debt,deflation effect and produce a saddle,path. (J.E.L. E4, E5). [source] Will swine flu push the world into deflation?ECONOMIC OUTLOOK, Issue 3 2009Article first published online: 28 JUL 200 First page of article [source] Does recession threaten to become deflation?ECONOMIC OUTLOOK, Issue 1 2009Article first published online: 29 JAN 200 First page of article [source] Has the ECB increased interest rates too soon?ECONOMIC OUTLOOK, Issue 1 2006Article first published online: 26 JAN 200 Even though the Eurozone recovery is far from entrenched, the ECB decided to raise interest rates towards the end of 2005 and another hike is expected soon. Those in the ECB who have been looking for a reason to start tightening for some time can point to an inflation rate that remains stubbornly above target as a justification. In this article we find that the price rises of non-energy industrial goods - particularly those for clothing and footwear - have remained very sticky when compared to the deflation seen in countries like the UK. A lack of competitive forces may be an issue - the impact of China and India on goods prices does not seem to be fully feeding through to consumers. And weak productivity in the distribution sector may have prevented retailers from driving down prices to the same extent as in the UK. Does the current ECB action form the start of a prolonged tightening cycle as seen in the US? Despite worries over asset price and credit growth - and here we argue that the ECB's reliance on monetary aggregates as a signal of impending inflation is misguided - there is a possibility that the ECB has acted at the same time that inflation is finally set to subside. Consequently, we expect a "wait and see" approach to further moves, and unless growth comes in much stronger than the 2.2% we expect in 2006, rates should end the year at around 2½%. [source] UK Assessment: Is deflation a real risk for the UK?ECONOMIC OUTLOOK, Issue 1 2002Article first published online: 5 FEB 200 First page of article [source] Oestrogen attenuates coronary vasoconstriction after angioplasty: role of endothelin-1EUROPEAN JOURNAL OF CLINICAL INVESTIGATION, Issue 3 2002T-M. Lee Abstract Background and aims There were controversies as to whether endothelin-1 is released after coronary angioplasty. We sought to determine whether endothelin-1 is released after coronary angioplasty and whether oestrogen administration can affect coronary vasomotor tone by reducing endothelin-1 concentrations. Methods The study was designed to prospectively investigate 24 consecutive patients scheduled for elective coronary angioplasty. Patients were randomized into two groups according to whether they did not (group 1, n = 12) or did (group 2, n = 12) have intracoronary treatment with oestrogen. Quantitative coronary angiography was monitored at baseline, immediately after successful angioplasty, and 15 min after the last deflation. Blood samples for measuring the levels of endothelin-1 were drawn from the ascending aorta and the coronary sinus simultaneously before angioplasty and 15 min after balloon dilatation. Results The diameters of the coronary artery at the dilated segments were significantly reduced 15 min after dilation compared with those immediately after dilation in group 1 from 3·20 ± 0·22 to 2·30 ± 0·23 mm (P < 0·001), respectively. The vasoconstriction was significantly blunted in group 2. The endothelin-1 levels from the coronary sinus rose significantly, by 29%, 15 min after angioplasty in group 1, which was attenuated after administering oestrogen. Significant correlation was found between the changes of coronary vasomotion of the dilated segment and endothelin-1 levels (r = 0·70, P = 0·01). Conclusion Endothelin-1 is released into the coronary circulation after angioplasty, and this vasoactive substance may contribute to the occurrence of vasoconstriction. The vasoconstriction is attenuated by oestrogen by reducing the endothelin-1 levels. This finding provided a new strategy to treat coronary vasoconstriction after angioplasty. [source] Elective coronary angioplasty with 60 s balloon inflation does not cause peroxidative injuryEUROPEAN JOURNAL OF CLINICAL INVESTIGATION, Issue 3 2002K. Cedro Abstract Background The aim of this study was to evaluate the ongoing controversial issue of whether ischemia/reperfusion during elective coronary angioplasty evokes myocardial peroxidative injury. Design We measured indicators of free radical damage to lipids (free malondialdehyde) and proteins (sulphydryl groups) in coronary sinus blood in 19 patients with stable angina who were undergoing elective angioplasty for isolated stenosis of the proximal left anterior descending coronary artery. Ischemia induced by 60 s balloon inflations was confirmed by lactate washout into coronary sinus after deflation, with immediate and 1 min samples. Peroxidative injury was assessed from washout of (a) malondialdehyde measured directly by high performance liquid chromatography and (b) reduced sulphydryl groups, inverse marker of protein oxidative stress. Results Mean lactate concentration immediately after each deflation increased by 120,150% of the initial value, confirming ischemia and showing that blood originated largely from the ischemic region. Lack of myocardial production of malondialdehyde was confirmed by (a) no arteriovenous differences in individual basal concentrations (aortic, range 0·33,12·03 nmol mL,1, mean 7·82; coronary sinus blood, range 0·52,15·82 nmol mL,1, mean 8·18), and (b) after deflations, mean concentrations were not significantly different from preocclusion value. There was no decrease in concentration of sulphydryl groups throughout angioplasty. Conclusion Elective coronary angioplasty with 60 s balloon inflations is a safe procedure that does not induce peroxidative myocardial injury as assessed by methods used in the present study. [source] The rapidly adapting receptors in mammalian airways and their responses to changes in extravascular fluid volumeEXPERIMENTAL PHYSIOLOGY, Issue 4 2006C. Tissa Kappagoda In this short review, we shall focus on some recent findings on the physiological stimulus for the rapidly adapting receptors (RAR) of the airways. They are readily activated by a sustained inflation of the lungs and they are usually identified by their rapid adaptation to this stimulus. They are also activated by both tactile stimuli and irritant gases applied to the epithelium of the airways. The investigations reviewed here suggest that these receptors are activated by changes in extravascular fluid volume. The principal factors governing fluid flux from the microcirculation are identified in the Starling equation. These are the hydrostatic pressure, plasma oncotic pressure and capillary permeability. Findings from recent studies suggest that all these factors increase the activity of RAR. In addition, these receptors are also activated by obstruction of lymph drainage from the lung. Evidence is presented to show that manipulation of Starling forces also increases the extravascular fluid volume of the airways in areas where the RAR are located. On the basis of these findings, it is suggested that, along with mechanosensitivity to stimuli such as stretch, inflation and deflation, another physiological stimulus to the RAR is a change in extravascular fluid volume in the regions of the airways where these receptors are located. [source] Geoarchaeological and chronostratigraphical investigations of open-air sites in the Geelbek Dunes, South AfricaGEOARCHAEOLOGY: AN INTERNATIONAL JOURNAL, Issue 4 2008M. Fuchs The Geelbek Dunes located north of Cape Town, South Africa, are an active, northward migrating dune field. Interdunal deflation hollows temporarily expose former land surfaces that are associated with archaeological sites. These open-air sites shed light on large-scale patterns of Middle and Later Stone Age settlement and augment the information gained from well-stratified, but spatially limited caves, rock shelters, and coastal shell middens. Based on paleopedological and sedimentological parameters, three former land surfaces were identified and associated with different assemblages. A chronostratigraphy of the various land surfaces was established by applying optically stimulated luminescence (OSL) dating. The youngest former land surface is represented by a dune generation (AD2) which stabilized at a maximum of 5 ka. An older dune generation (AD1) shows a more heterogeneous age pattern where deposition started at ca. 27 ka with a maximum estimated age of stabilization at ca. 10 ka. Both of these dune generations overlie a weathered calcrete complex of Middle to Late Pleistocene age. While the third dune generation (AD0) was observed between underlying calcrete layers, samples taken from this unit could not be dated. © 2008 Wiley Periodicals, Inc. [source] Inverted clast stratigraphy in an eolian archaeological environmentGEOARCHAEOLOGY: AN INTERNATIONAL JOURNAL, Issue 7 2002Brenda J. Buck Understanding the geomorphic history of eolian basins is important in interpreting the archaeological record and human responses to past environments. One hundred forty soil profiles were excavated and described in southern New Mexico and West Texas. Seven major late Quaternary stratigraphic units were found: La Mesa, eolian Jornada (I, II), eolian Isaacks' Ranch, eolian Organ (I, II, and III), Historical Blowsand, and the playa deposits of Petts Tank and Lake Tank. Each unit represents a period of landscape instability, eolian erosion, and concurrent deposition, followed by landscape stability and soil formation. Eolian erosion can form local surficial lag deposits if materials larger than the competence of the wind are present. However, erosional processes alone cannot explain the presence of older clasts at the surface with intact, younger deposits underneath. We propose a combination of processes: deflation in eolian windows, followed by lateral movement of clasts over areas that have not been deflated. The effects of these processes on artifact stratigraphy and archaeological interpretations could be significant. © 2002 Wiley Periodicals, Inc. [source] Recent decay of a single palsa in relation to weather conditions between 1996 and 2000 in Laivadalen, northern SwedenGEOGRAFISKA ANNALER SERIES A: PHYSICAL GEOGRAPHY, Issue 2 2002Frieda Sjoukje Zuidhoff This study presents the decay of a small palsa complex between 1996 and 2000 in Sweden's southernmost major palsa bog. The outline of the palsa was mapped during three summers in 1996, 1999 and 2000 and an automatic weather station measured air temperature, precipitation, snow depth, wind speed and wind direction between 1997 and 2000. The decay of the palsa was enormous in the dome,shaped part of the palsa complex: the height decreased during the observation period from 2.3 m to 0.5 m. In 2000, the palsa dome had almost totally disappeared: only some peat blocks in a palsa pond were left. The decay of the palsa was complex with a number of degradational processes, of which the main processes were block erosion, thermokarst and wind erosion. Thermal melting has occurred along the edges of the palsa and possibly below the frozen core of the palsa since 1998/99. Wind erosion was observed during summer and the maximum estimated deflation was 80 cm. The decay of the palsa dome was especially large between 1999 and 2000, probably due to a high mean annual temperature, high summer precipitation and the warming influence of the large pond surrounding the palsa. The present climate in the palsa bog with a mean annual temperature of ,0.8°C is not favourable for palsa development and maintenance, despite a strong wind regime which can provide suitable conditions for snowdrift. [source] Turf exfoliation in the high Drakensberg, Southern AfricaGEOGRAFISKA ANNALER SERIES A: PHYSICAL GEOGRAPHY, Issue 1 2002Stefan W. Grab Limited research attention has focussed on turf exfoliation as a denudation process in mountain environments. This paper examines some characteristics of turf exfoliation forms identified within particular valley zones in the Drakensberg alpine belt. Morphological and sedimentological data are presented for turf exfoliated sites investigated in the Mashai Valley of eastern Lesotho. It is found that a variety of processes, including needle ice action, biological activity, fluvial processes and deflation, operating synergistically, are responsible for contemporary turf exfoliation in the high Drakensberg. It is apparent that the strong seasonality from mild, wet summers to cold, dry winters has helped induce the annual cycle of dominating processes. [source] Structural Traps, Politics and Monetary PolicyINTERNATIONAL FINANCE, Issue 1 2004Robert H. Dugger Structural conditions pose a challenge to monetary policy, as the example of Japan shows. In this paper we develop the concept of structural trap, where the interplay of long-term economic development incentives, politics, and demographics results in economies being unable to efficiently reallocate capital from low- to high-return uses. The resulting macroeconomic picture looks like a liquidity trap , low GDP growth and deflation despite extreme monetary easing. But the optimal policy responses are very different and mistaking them could lead to perverse results. The key difference between a liquidity trap and a structural one is the role of politics. We show how, in the Japanese case, longstanding economic incentives and protections and demographic trends have resulted in a political leadership that resists capital reallocation from older protected low-return sectors to higher-return newer ones. If the Japanese case is instructive, in a structural trap, extremely loose monetary policy perpetuates deflation and low GDP growth, because unproductive but politically important firms are allowed to survive and capital reallocation is prevented. By preventing the needed reduction in excess capacity, a structural trap condemns reflationary policies to failure by making the creation of credible inflation expectations impossible. Faced with a structural trap, an independent central bank with a price stability mandate should adopt a monetary policy stance consistent with restructuring. If political resistance is high, monetary policy decision makers will need to keep nominal rates high enough to ensure that capital reallocation takes place at an acceptable pace. [source] 3-D nested eigenanalysis on finite element gridsINTERNATIONAL JOURNAL FOR NUMERICAL METHODS IN BIOMEDICAL ENGINEERING, Issue 7 2006Giorgio Pini Abstract The computation of several of the leftmost eigenpairs of generalized symmetric eigenproblems in 3-D finite element (FE) discretizations is addressed using the nested iteration deflation accelerated conjugate gradient (NI-DACG) method previously studied and improved by the authors in a 2-D framework. Numerical results from the flow (diffusion type) equation integrated over tetrahedral FE shows speed-ups relative to DACG ranging between 2 up to more than 10 depending on the aspect ratio of the elements used. NI-DACG also compares favourably with the performance of IRAM, i.e. the implicit restarted Arnoldi method, implemented in the eigenvalue package ARPACK. Copyright © 2005 John Wiley & Sons, Ltd. [source] Fixing minimum wage levels in developing countries: Common failures and remediesINTERNATIONAL LABOUR REVIEW, Issue 1 2008Catherine SAGET Abstract. Some developing countries have set their minimum wages too high or too low to constitute a meaningful constraint on employers. The article compares minimum wages worldwide, proposes several ways of measuring them in developing countries and discusses whether they are effective thresholds in those countries. The second part of the article considers the institutional factors leading countries to set minimum wages at extreme levels. The author concludes that the minimum wage is used as a policy instrument to several ends , wage negotiation, deflation and social dialogue , which results in the absence of a wage floor, weak collective bargaining, or non-compliance. [source] Powering, Puzzling, or Persuading?INTERNATIONAL STUDIES QUARTERLY, Issue 4 2007The Mechanisms of Building Institutional Orders This article offers an agent-centered constructivist analysis of institution building; that of the "first" New Deal of the National Recovery Administration. It argues that in moments of uncertainty generated by the failure of existing institutions, institutional choice becomes underdetermined by structure and open to attempts at creative and underdetermined inter-elite persuasion. What matters in such moments are the locally generated "crisis-defining" ideas at hand rather than simply the ostensible material positions of the actors in question. How this process took place in the U.S. is compared with both similar historical cases and alternative materialist models. An alternative model is developed, and in conclusion it is suggested why periods of deflation may be particularly open to inter-elite attempts at persuasion. [source] Effects of surfactant replacement on alveolar overdistension and plasma cytokines in ventilator-induced lung injuryACTA ANAESTHESIOLOGICA SCANDINAVICA, Issue 3 2010H. WU Background: Overdistension of the lung causes ventilator-induced lung injury (VILI) accompanied by surfactant abnormalities and inflammatory changes. We investigated the effects of surfactant replacement on overdistension of the terminal airspaces and plasma cytokine levels in VILI. Methods: VILI was induced by high-pressure ventilation (HPV) in rats anesthetized with pentobarbital, followed by ventilation for 2 h in the maintenance mode (tidal volume=10 ml/kg, positive end-expiratory pressure=7.5 cmH2O) with or without surfactant replacement. The sizes of the terminal airspaces were determined after fixing the lungs at an airway pressure of 10 cmH2O on deflation. Cytokine levels were assessed by enzyme-linked immunosorbent assay. Results: The mean ratio of the largest terminal airspace size class (,64,000 ,m2) was increased from 13.4% to 32.0% by HPV (P<0.05). After maintenance-mode ventilation, the ratio decreased to 16.1% with surfactant replacement (P<0.05), but increased to 44.6% without surfactant replacement (P<0.05). Mean macrophage inflammatory protein-2 (MIP-2) levels in the plasma increased from <0.02 to 6.9 ng/ml with HPV (P<0.05), and further increased to ,11.8 ng/ml, regardless of surfactant replacement after maintenance-mode ventilation. Similar tendencies were observed in the interleukin (IL)-6 and IL-10 levels. Tumor necrosis factor-, levels were almost negligible during the experiment. Conclusion: In rats with VILI, surfactant replacement reversed overdistension of the terminal airspaces that may induce barotrauma, but not upregulation of MIP-2, IL-6, and IL-10 within 2 h. [source] A framework for sequential multiblock component methodsJOURNAL OF CHEMOMETRICS, Issue 6 2003Age K. Smilde Abstract Multiblock or multiset methods are starting to be used in chemistry and biology to study complex data sets. In chemometrics, sequential multiblock methods are popular; that is, methods that calculate one component at a time and use deflation for finding the next component. In this paper a framework is provided for sequential multiblock methods, including hierarchical PCA (HPCA; two versions), consensus PCA (CPCA; two versions) and generalized PCA (GPCA). Properties of the methods are derived and characteristics of the methods are discussed. All this is illustrated with a real five-block example from chromatography. The only methods with clear optimization criteria are GPCA and one version of CPCA. Of these, GPCA is shown to give inferior results compared with CPCA. Copyright © 2003 John Wiley & Sons, Ltd. [source] Vascular Function Measured by Fingertip Thermal Reactivity Is Impaired in Patients With Metabolic Syndrome and Diabetes MellitusJOURNAL OF CLINICAL HYPERTENSION, Issue 11 2009Naser Ahmadi MD Digital thermal monitoring (DTM) of vascular function has already been shown to correlate well with coronary artery calcium (CAC) score and coronary artery disease. To determine its utility in the metabolic syndrome (MS) and diabetes mellitus (DM), 233 asymptomatic patients with DM/MS but without coronary artery disease underwent DTM during and after 5 minutes of supra-systolic arm cuff inflation, as well as CAC. Post-cuff deflation adjusted temperature rebound (aTR) was lower in MS and DM compared with the normal group. The odds ratio of lowest vs upper 2 tertiles of aTR was 2.3 for MS and 3.5 for DM compared with the normal group, independent of age, sex, and risk factors. The area under the receiver operating characteristic curve to predict CAC ,100 was 0.69 for metabolic status (DM/MS), 0.79 for aTR, and 0.87 for both. This study demonstrates that vascular dysfunction measured by DTM is associated with DM/MS and could potentially be used to detect asymptomatic individuals with increased subclinical atherosclerosis. [source] Mechatronic Design and Locomotion of Amoebot,A Metamorphic Underwater VehicleJOURNAL OF FIELD ROBOTICS (FORMERLY JOURNAL OF ROBOTIC SYSTEMS), Issue 6 2003I-Ming Chen The Metamorphic Underwater Vehicle (MUV) is a vehicle that propels in the water by continuously changing the shape of its body similar to the motion of the microorganism amoebae. In this article, we describe the basic design of Amoebot, a plastic MUV that achieves shape-changing capability through the inflation and deflation of water-filled balloons. A sequence of inflation and deflation procedures can be taken to produce cyclic swimming shapes that propel the MUV. Swimming shapes similar to the microorganism amoebae have been successfully reproduced by present Amoebot. The mechanical system designed proves to be very reliable and flexible in producing desired body shapes. The physical shape of the Amoebot is analyzed numerically and its variation in time during the swim can be expressed explicitly. By formulating sets of idealized swimming rules based on the changing shape, simulations are carried out to predict the trajectory and study the pseudo dynamics of the swimming of Amoebot. Possible applications of this type of underwater vehicle are discussed. © 2003 Wiley Periodicals, Inc. [source] Effect of Modified Atmosphere Packaging and Soluble Gas Stabilization on the Shelf Life of Skinless Chicken Breast FilletsJOURNAL OF FOOD SCIENCE, Issue 2 2006Bjørn T. Rotabakk ABSTRACT The suitability of soluble gas stabilization (SGS) to dissolve CO2 into skinless chicken breast fillets before modified atmosphere (MA) packaging (MAP) was investigated. Head space gas composition (%), top web deflation (mm), muscle surface color (Minolta L*a*b*), pH, exudates in the packages (%), microbial characteristics, and off-odor were assessed in the packaged fillets. Increased SGS treatment time (2 versus 12 h) before MA packaging increased the CO2 content in the packaged fillets and counteracted package collapse. High package filling degree (51.8%) (low gas to product volume ratio) gave significantly (P < 0.001) lower CO2 content in head space than normal filling degree (29.7%). Color, pH, and package exudates were not affected by SGS treatment. Aerobic plate count (APC), Enterbacteriaceae count (EC), and lactic acid bacteria (LAB) increased significantly (P < 0.001) at each sampling during storage (5, 11, 17, and 24 d). SGS treatment significantly (P < 0.015) decreased APC, EC, and Pseudomonas spp. counts (PC) compared with no SGS treatment. Filling degree did not have a significant effect on the investigated microbiological characteristics. Off-odor scores correlated highest with EC (r2(adj)= 0.82). Fillets SGS treated in 12 h were the only one not rejected at off-odor evaluation on day 24. The samples stored in air spoiled after 5 d. SGS treatment in combination with MAP can be used successfully on chicken breast fillets to improve the microbiological (APC, EC, and PC) and sensorial characteristics, and in addition reduce package collapse and possibly increase the filling degree. [source] Monetary Policy and the Lost Decade: Lessons from JapanJOURNAL OF MONEY, CREDIT AND BANKING, Issue 5 2010DANIEL LEIGH liquidity trap; deflation; monetary policy; Bayesian econometrics I investigate how monetary policy can avoid a deflationary slump when policy rates are near zero by studying interest rate policy during Japan's "Lost Decade." Estimation results suggest that the Bank of Japan's interest rate policy fits a conventional reaction function with an inflation target near 1%. The disapointing economic performance thus seems primarily due to adverse economic shocks rather than extraordinary policy errors. Also, counterfactual policy simulations suggest that simply raising the inflation target would not have substantially improved performance. However, price-level targeting or combining a higher inflation target with an aggressive output response would have achieved superior stabilization results. [source] What Makes the Output,Inflation Trade-Off Change?JOURNAL OF MONEY, CREDIT AND BANKING, Issue 6 2009The Absence of Accelerating Deflation in Japan Phillips curve; time-varying parameter models; endogenous pricing It is standard to model the output,inflation trade-off as a linear relationship with a time-invariant slope. We assess empirical evidence for two sets of theories that allow for endogenous variation in the slope of the short-run Phillips curve. At an empirical level, we examine why large negative output gaps in Japan in the late 1990s did not lead to accelerating deflation but instead coincided with stable, albeit moderately negative inflation. Our results suggest that this episode is most convincingly interpreted as reflecting a gradual flattening of the Phillips curve. We find that this flattening is best explained by models with endogenous price durations. These models imply that in any economy where trend inflation is substantially lower (or substantially higher) today than in past decades, time variation in the slope of the Phillips curve has become too important to ignore. [source] A 3D HIGH RESOLUTION MODEL OF BOUNDING SURFACES IN AEOLIAN-FLUVIAL DEPOSITS: AN OUTCROP ANALOGUE STUDY FROM THE PERMIAN ROTLIEGEND, NORTHERN GERMANYJOURNAL OF PETROLEUM GEOLOGY, Issue 3 2007C. Fischer The fluvial-aeolian Rotliegend succession exposed in a quarry near Magdeburg (Flechtinger Höhenzug, Northern Germany) is an analogue for deeply-buried gas-bearing Rotliegend sandstones in the Southern Permian Basin. The spatial configuration of bounding surfaces within this succession was reconstructed with reference to twelve profiles with 926 sample points. Generally sub-horizontal interdune migration surfaces were surveyed, and the areal extent of small-scale superimposition surfaces and the thicknesses of intervening strata were measured. Based on these observations and also on the extent of different lithofacies types and on corresponding porosity and permeability data, a 3D lithofacies model (including bounding surface configurations) incorporating porosity and radial permeability was created using PETRELTÔ software. In the quarry, aeolian sandstones approximately 12 m thick (,, 5-11 vol. %, ,radial, 0.01-10mD) are separated into a number of tabular bed sets by sub-horizontal interdune migration surfaces. The surfaces are often associated with thin pelitic intervals with low permeabilities which originate from deflation and sheet flow events. Aeolian deposits consist mainly of two lithotypes: low-angle cross-bedded, and steeply cross-bedded medium-grained sandstones. Superimposition surfaces occur at the base of the low-angle cross-bedded sandstone bodies. The highest porosities and permeabilities occur within the steeply cross-bedded sandstones, reflecting intense eodiagenetic calcite and quartz cementation with subsequent calcite dissolution. The low-angle cross-bedded sandstones may act as flow baffles. This outcrop-derived, high resolution model may contribute to a better understanding of the subsurface architecture and reservoir properties of aeolian-fluvial successions. Taking into consideration the centimetre- to metre-scaled inhomogeneities observed at outcrop, lithotype modelling with reference to the occurrence of bounding surfaces may help to predict how similar reservoir rocks are partitioned. [source] Failure of endotracheal cuff deflationACTA ANAESTHESIOLOGICA SCANDINAVICA, Issue 4 2005S. D. Adhikary No abstract is available for this article. [source] Regional activation in the rat brain during visceral stimulation detected by c- fos expression and fMRINEUROGASTROENTEROLOGY & MOTILITY, Issue 4 2005J. Lazovic Abstract, Aim:, The aim of the study was to determine and compare the areas of brain activated in response to colorectal distention (CRD) using functional magnetic resonance imaging (fMRI) and c- fos protein expression. Methods:, For fMRI study (3.0 T magnet), anaesthetized rats underwent phasic CRD, synchronized with fMRI acquisition. Stimulation consisted of eight cycles of balloon deflation (90 s) and inflation (30 s), at 40, 60 or 80 mmHg of pressure. For c- fos study two sets of experiments were performed on anaesthetized rats: comparing (A) brain activation in rats with the inserted colorectal balloon (n = 5), to the rats without the balloon (n = 5); and (B) rats with inserted balloon (n = 10), to the rats with inserted and distended balloon (n = 10). The pressure of 80 mmHg was applied for 2 h of 30 s inflation and 90 s deflation, alternating cycles. Results:, Functional MRI revealed significant activation in the amygdala, hypothalamus, thalamus, cerebellum and hippocampus. Significant increase in c- fos expression was observed in amygdala and thalamus in the first set of experiments, and hypothalamus and parabrachial nuclei in the second. Conclusion:, The two methods are not interchangeable but appeared to be complementary: fMRI was more sensitive, whereas c- fos had much greater resolution. [source] A comparison of abstract versions of deflation, balancing and additive coarse grid correction preconditionersNUMERICAL LINEAR ALGEBRA WITH APPLICATIONS, Issue 4 2008R. Nabben Abstract In this paper we consider various preconditioners for the conjugate gradient (CG) method to solve large linear systems of equations with symmetric positive definite system matrix. We continue the comparison between abstract versions of the deflation, balancing and additive coarse grid correction preconditioning techniques started in (SIAM J. Numer. Anal. 2004; 42:1631,1647; SIAM J. Sci. Comput. 2006; 27:1742,1759). There the deflation method is compared with the abstract additive coarse grid correction preconditioner and the abstract balancing preconditioner. Here, we close the triangle between these three methods. First of all, we show that a theoretical comparison of the condition numbers of the abstract additive coarse grid correction and the condition number of the system preconditioned by the abstract balancing preconditioner is not possible. We present a counter example, for which the condition number of the abstract additive coarse grid correction preconditioned system is below the condition number of the system preconditioned with the abstract balancing preconditioner. However, if the CG method is preconditioned by the abstract balancing preconditioner and is started with a special starting vector, the asymptotic convergence behavior of the CG method can be described by the so-called effective condition number with respect to the starting vector. We prove that this effective condition number of the system preconditioned by the abstract balancing preconditioner is less than or equal to the condition number of the system preconditioned by the abstract additive coarse grid correction method. We also provide a short proof of the relationship between the effective condition number and the convergence of CG. Moreover, we compare the A -norm of the errors of the iterates given by the different preconditioners and establish the orthogonal invariants of all three types of preconditioners. Copyright © 2008 John Wiley & Sons, Ltd. [source] | ||||||||||||||||||||||||||||