MODIS Cloud Microphysics Product (MOD_PR06OD) Data Collection 6 Updates

The MODIS Cloud Optical and Microphysical Product (MOD_PR060D) for Data Collection 6 has entered full scale production. Aqua reprocessing is almost completed and Terra reprocessing will begin shortly. Unlike previous collections, the CHIMAERA code base allows for simultaneous processing for multiple sensors and the operational CHIMAERA 6.0.76 stream is also available for VIIRS and SEVIRI sensors and for our E-MAS airborne platform

Dealing with missing standard deviation and mean values in meta-analysis of continuous outcomes: a systematic review

Background: Rigorous, informative meta-analyses rely on availability of appropriate summary statistics or individual participant data. For continuous outcomes, especially those with naturally skewed distributions, summary information on the mean or variability often goes unreported. While full reporting of original trial data is the ideal, we sought to identify methods for handling unreported mean or variability summary statistics in meta-analysis. Methods: We undertook two systematic literature reviews to identify methodological approaches used to deal with missing mean or variability summary statistics. Five electronic databases were searched, in addition to the Cochrane Colloquium abstract books and the Cochrane Statistics Methods Group mailing list archive. We also conducted cited reference searching and emailed topic experts to identify recent methodological developments. Details recorded included the description of the method, the information required to implement the method, any underlying assumptions and whether the method could be readily applied in standard statistical software. We provided a summary description of the methods identified, illustrating selected methods in example meta-analysis scenarios. Results: For missing standard deviations (SDs), following screening of 503 articles, fifteen methods were identified in addition to those reported in a previous review. These included Bayesian hierarchical modelling at the meta-analysis level; summary statistic level imputation based on observed SD values from other trials in the meta-analysis; a practical approximation based on the range; and algebraic estimation of the SD based on other summary statistics. Following screening of 1124 articles for methods estimating the mean, one approximate Bayesian computation approach and three papers based on alternative summary statistics were identified. Illustrative meta-analyses showed that when replacing a missing SD the approximation using the range minimised loss of precision and generally performed better than omitting trials. When estimating missing means, a formula using the median, lower quartile and upper quartile performed best in preserving the precision of the meta-analysis findings, although in some scenarios, omitting trials gave superior results. Conclusions: Methods based on summary statistics (minimum, maximum, lower quartile, upper quartile, median) reported in the literature facilitate more comprehensive inclusion of randomised controlled trials with missing mean or variability summary statistics within meta-analyses

Measuring Marginal q

Using asset prices I estimate the marginal value of capital in a dynamic stochastic economy under general assumptions about technology and preferences. The state-space measure of marginal q relies on the joint measurability of the value function, i.e. firm market value, and its underlying firm state variables. Unlike existing methodologies, the state-space marginal q requires only general restrictions on the stochastic discount factor and the firm investment technology, and it uses simple linear estimation methods. Consistently with a large class of neoclassical investment models, I construct the state-space marginal q using the firm capital stock and profitability shocks. I show that this new measure of real investment opportunities is substantially different from the conventional Tobin\u27s Q, it yields more plausible and robust estimates of capital adjustment costs, it increases the correlation with investment and the sensitivity of investment to fundamentals

Effect of GA 3 and paclobutrazol on adventitious shoot regeneration of two Pelargonium sp

This study had two aims. The first was to improve the regeneration efficiency of Pelargonium leaf discs by adventitious budding. The second was to test the effect of gibberellic acid (GA 3) and paclobutrazol (PBZ) on callus formation and adventitious shoot regeneration in Pelargonium before using genetic transformation of this species for functional validation of genes involved in the process of GA regulation. GA 3 and paclobutrazol (an inhibitor of GA synthesis pathway) were added (together or separately) in the shoot regeneration media of two Pelargonium species, Pelargonium * hortorum \u27Panache sud\u27 (\u27P.sud\u27) and Pelargonium * domesticum \u27Autumn haze\u27 (\u27 P.dom\u27). In both cases, GA 3 applied alone, completely inhibited the bud regeneration. Moreover, the rate of callus formation decreased drastically when 5 M of GA 3 was applied to \u27 P. dom\u27 explants. Similar result was obtained with \u27P.sud\u27 explants using 20 M GA 3. Paclobutrazol (0.3 M) applied at the same time as GA 3 (10 M) could partially restore regeneration process of \u27 P. dom\u27. For \u27 P. dom\u27, the use of paclobutrazol alone increased callus formation and slightly improved the rate of regeneration. Moreover, initiated buds had a better appearance. For \u27P. sud\u27, which had an abundant callusing, paclobutrazol did not improve regeneration and led to hyperhydric shoots

Irreversible Investment and the Cross-Section of Stock Returns in General Equilibrium

A general equilibrium production economy with heterogeneous firms and irreversible investment generates the value premium. Investment irreversibility prevents unprofitable value firms from optimally scaling down their capital stock. In contrast, profitable and fast growing - growth - firms can optimally use investment to provide consumption insurance. Value firms are riskier and have higher expected returns than growth firms, especially in bad times when consumption volatility is high. The value premium is larger for small stocks as small value firms are more severely affected by irreversibility. Firms’ investment and capital predict the cross-section of stock returns much like book-to-market and market equity both in the model and data. The model can replicate the failure of the unconditional CAPM. Multifactor models, including the Fama and French (1993) factor model, and to a lesser extent, conditional versions of the CAPM, outperform the unconditional CAPM

General anaesthesia versus local anaesthesia for carotidsurgery (GALA): a multicentre, randomised controlled trial.

Background The eff ect of carotid endarterectomy in lowering the risk of stroke ipsilateral to severe atherosclerotic carotid-artery stenosis is off set by complications during or soon after surgery. We compared surgery under general anaesthesia with that under local anaesthesia because prediction and avoidance of perioperative strokes might be easier under local anaesthesia than under general anaesthesia. Methods We undertook a parallel group, multicentre, randomised controlled trial of 3526 patients with symptomatic or asymptomatic carotid stenosis from 95 centres in 24 countries. Participants were randomly assigned to surgery under general (n=1753) or local (n=1773) anaesthesia between June, 1999 and October, 2007. The primary outcome was the proportion of patients with stroke (including retinal infarction), myocardial infarction, or death between randomisation and 30 days after surgery. Analysis was by intention to treat. The trial is registered with Current Control Trials number ISRCTN00525237. Findings A primary outcome occurred in 84 (4·8%) patients assigned to surgery under general anaesthesia and 80 (4·5%) of those assigned to surgery under local anaesthesia; three events per 1000 treated were prevented with local anaesthesia (95% CI –11 to 17; risk ratio [RR] 0·94 [95% CI 0·70 to 1·27]). The two groups did not signifi cantly diff er for quality of life, length of hospital stay, or the primary outcome in the prespecifi ed subgroups of age, contralateral carotid occlusion, and baseline surgical risk. Interpretation We have not shown a defi nite diff erence in outcomes between general and local anaesthesia for carotid surgery. The anaesthetist and surgeon, in consultation with the patient, should decide which anaesthetic technique to use on an individual basis

The Distribution of Firm Size and Aggregate Investment

We investigate empirically how the distributional dynamics of firm investment rates and firm size affect aggregate US investment during the period 1962-2006. We find that the cross-sectional covariation between firms’ investment rates and their relative size accounts on average for about half of aggregate investment rate. The negative sign of this covariance implies that a mean-preserving increase in the cross-sectional dispersion of investment rates and/or relative size reduces aggregate investment rate. We investigate the implications of firm-level conditional convergence in corporate investment rates on the dynamics of aggregate investment. We identify the cross-sectional variance of firm relative size as being particularly relevant to explain aggregate investment dynamics. With aggregate NIPA investment data, the cross-sectional variance of firm size fits the investment equation better than the traditional measure of Tobin’s Q and it drives out cash flow

Meta-analysis of genome-wide association studies of asthma in ethnically diverse North American populations.

Asthma is a common disease with a complex risk architecture including both genetic and environmental factors. We performed a meta-analysis of North American genome-wide association studies of asthma in 5,416 individuals with asthma (cases) including individuals of European American, African American or African Caribbean, and Latino ancestry, with replication in an additional 12,649 individuals from the same ethnic groups. We identified five susceptibility loci. Four were at previously reported loci on 17q21, near IL1RL1, TSLP and IL33, but we report for the first time, to our knowledge, that these loci are associated with asthma risk in three ethnic groups. In addition, we identified a new asthma susceptibility locus at PYHIN1, with the association being specific to individuals of African descent (P = 3.9 × 10(-9)). These results suggest that some asthma susceptibility loci are robust to differences in ancestry when sufficiently large samples sizes are investigated, and that ancestry-specific associations also contribute to the complex genetic architecture of asthma

Public Information and Inefficient Investment

In a general equilibrium economy with uninsurable aggregate liquidity shocks, we show that public information may trigger allocative inefficiency and liquidity crises. Entrepreneurs do not internalize the negative impact of their investment decisions on the equilibrium risk of liquidity shortage. A more informative public signal decreases the risk of a liquidity shock, but increases the risk of capital rationing conditional on a liquidity shock. In equilibrium, information quality has a non-monotonic effect on expected returns on investment and social welfare. An increase in the quality of public information has redistributive effects on welfare as entrepreneurs gain and financiers lose. Investment restrictions and targeted disclosure of information achieve constrained efficiency as competitive market equilibrium