Real Shock, Monetary Aftershock: The San Francisco Earthquake and the Panic of 1907

Economists have long studied the relationship between the real and monetary sectors. We examine the macroeconomic effects of the 1906 San Francisco earthquake, a shock that immediately reduced United States. GNP by 1.5-1.8 percentage points. The quake's impact manifested itself in gold flows, as British insurance companies paid their San Francisco claims out of home funds in the fall of 1906. The capital outflow prompted the Bank of England to raise interest rates and discriminate against American finance bills. British bank policy pushed the US into recession and set the stage for the 1907 financial crisis. The 1907 panic led to the formation of the National Monetary Commission whose proposals recommended the creation of the Federal Reserve. In this study, we identify the San Francisco earthquake as the shock that triggered the chain of events that culminated in the panic of 1907.

Data points on the growth of international human subjects research

This fact sheet provides a referenced list of data points demonstrating the growth of internationalization in clinical research. In 2008, 78% of all subjects in U.S. funded clinical trials were enrolled in non-U.S. sites

The Lewis Journals-to-Gas-Price Inflation Index, Chemistry and Physics 2015

What would a gallon of gas cost if gas prices increased at the same rate as subscriptions to scholarly journals

Renorming spaces with greedy bases

We study the problem of improving the greedy constant or the democracy constant of a basis of a Banach space by renorming. We prove that every Banach space with a greedy basis can be renormed, for a given \vare>0, so that the basis becomes (1+\vare)-democratic, and hence (2+\vare)-greedy, with respect to the new norm. If in addition the basis is bidemocratic, then there is a renorming so that in the new norm the basis is (1+\vare)-greedy. We also prove that in the latter result the additional assumption of the basis being bidemocratic can be removed for a large class of bases. Applications include the Haar systems in $L_p[0,1]$, $1<p<\infty$, and in dyadic Hardy space $H_1$, as well as the unit vector basis of Tsirelson space