Money, Wealth and Overlapping Generations

In this paper, we use Weil's (1989) overlapping dynasties framework to analyse a microfounded version of the real balance effect envisaged by Pigou (1944). The effect is absent from representative agent models as then net monetary wealth is always zero. With population growth, however, net monetary wealth is positive and a real balance effect emerges much as Pigou predicted. Our main conclusion, however, is a Keynesian one: rather than eliminating the possibility of a trap, the framework generating the real balance effect if anything makes a trap more likely due to the heightened constraints it imposes on the monetary authority.liquidity trap, real balance effect, Pigou effect, monetary policy, Japan

Improved Precision and Efficiency of a Modified ORG0020 Dynamic Respiration Test Setup for Compost Stability Assessment

The ORG0020 dynamic respiration test is effective at distinguishing source segregated organic waste derived composts across a wide range of stabilities when compared to other standard tests; however, using the original diaphragm pump and manifold setup, the test is affected by variability in flow rate with time and across sample replicate vessels. Here, we demonstrate the use of a multichannel peristaltic pump to deliver a more consistent air flow to individual vessels. Using finished and unfinished industry compost samples from different sites with varying stabilities, we provide evidence of greater precision of the modified setup compared to the original. Furthermore, the reduced need for air flow adjustment resulted in improved running cost efficiency with less labour demand. Analysis of compost sample oxygen demand supports the current test air flow rate of 25–75 mL min−1, although the improved air flow control will enable future narrowing of the acceptable range for better inter-laboratory performance

Financial Stress and Liquidity Traps

Motivated by the bubble-collapse cycle witnessed in Japanese asset prices since the late 1980s, this paper examines how a financial crisis influences the power of monetary policy. We construct a simple macroeconomic model based on the microfoundations of Holmstrom and Tirole (1997) to analyse the effect of three types of financial stress on the nature of the equilibrium: a credit crunch; an adverse collateral shock; and a monitoring cost shock. Perhaps surprisingly, we find that the power of monetary policy is, if anything, heightened in a credit crunch; higher monitoring costs however work in the opposite direction, suggesting a need for more aggressive stabilisation policy in the face of financial shocks.

Consensus group on the design, analysis and reporting of antibiotic stewardship trials – MRC

Improving antibiotic stewardship [Interview] Professor Martin Llewelyn and Dr Valentijn Schweitzer discuss antibiotic stewardship and explain why there is an urgent need to develop recommendations for better research in this fiel

Oncogenic K-Ras suppresses IP₃-dependent Ca²⁺ release through remodeling of IP₃Rs isoform composition and ER luminal Ca²⁺ levels in colorectal cancer cell lines

The GTPase Ras is a molecular switch engaged downstream of G-protein coupled receptors and receptor tyrosine inases that controls multiple cell fate-determining signalling athways. Ras signalling is frequently deregulated in cancer underlying associated changes in cell phenotype. Although Ca2+ signalling pathways control some overlapping functions with Ras, and altered Ca2+ signalling pathways are emerging as important players in oncogenic transformation, how Ca2+ signalling is remodelled during transformation and whether it has a causal role remains unclear. We have investigated Ca2+ signalling in two human colorectal cancer cell lines and their isogenic derivatives in which the mutated K-Ras allele (G13D) has been deleted by homologous recombination. We show that agonist-induced Ca2+ release from intracellular stores is enhanced by loss of K-RasG13D through an increase in the ER store content and a modification of IP3R subtype abundance. Consistently, uptake of Ca2+ into mitochondria and sensitivity to apoptosis was enhanced as a result of KRasG13D loss. These results suggest that suppression of Ca2+ signalling is a common response to naturally occurring levels of K-RasG13D that contributes to a survival advantage during oncogenic transformation

Alzheimer’s disease-associated peptide Aβ₄₂ mobilizes ER Ca²⁺ via InsP₃R-dependent and -independent mechanisms

Dysregulation of Ca2+ homeostasis is considered to contribute to the toxic action of the Alzheimer’s Disease (AD) associated Amyloid β-peptide (Aβ). Ca2+ fluxes across the plasma membrane and release from intracellular stores have both been reported to underlie the Ca2+ fluxes induced by Aβ42. Here, we investigated the contribution of Ca2+ release from the endoplasmic reticulum (ER) to the effects of Aβ42 upon Ca2+ homeostasis and the mechanism by which Aβ42 elicited these effects. Consistent with previous reports, application of soluble oligomeric forms of Aβ42 exhibited Ca2+ mobilizing properties. The Aβ42-stimulated Ca2+ signals persisted in the absence of extracellular Ca2+ indicating a significant contribution of Ca2+ release from the ER Ca2+ store to the generation of these signals. Moreover, inositol 1,4,5-trisphosphate (InsP3) signaling contributed to Aβ42-stimulated Ca2+ release. The Ca2+ mobilizing effect of Aβ42 was also observed when applied to permeabilized cells deficient in InsP3 receptors revealing an additional direct effect of internalized Aβ42 upon the ER, and a mechanism for induction of toxicity by intracellular Aβ42

Effective anisotropies and energy barriers of magnetic nanoparticles with Néel surface anisotropy

Magnetic nanoparticles with Néel surface anisotropy, different internal structures, surface arrangements, and elongation are modeled as many-spin systems. The results suggest that the energy of many-spin nanoparticles cut from cubic lattices can be represented by an effective one-spin potential containing uniaxial and cubic anisotropies. It is shown that the values and signs of the corresponding constants depend strongly on the particle's surface arrangement, internal structure, and shape. Particles cut from a simple cubic lattice have the opposite sign of the effective cubic term, as compared to particles cut from the face-centered cubic lattice. Furthermore, other remarkable phenomena are observed in nanoparticles with relatively strong surface effects. (i) In elongated particles surface effects can change the sign of the uniaxial anisotropy. (ii) In symmetric particles (spherical and truncated octahedral) with cubic core anisotropy surface effects can change the sing of the latter. We also show that the competition between the core and surface anisotropies leads to a new energy that contributes to both the second- and fourth-order effective anisotropies. We evaluate energy barriers ΔE as functions of the strength of the surface anisotropy and the particle size. The results are analyzed with the help of the effective one-spin potential, which allows us to assess the consistency of the widely used formula ΔE/V= K∞ +6 Ks /D, where K∞ is the core anisotropy constant, Ks is a phenomenological constant related to surface anisotropy, and D is the particle's diameter. We show that the energy barriers are consistent with this formula only for elongated particles for which the surface contribution to the effective uniaxial anisotropy scales with the surface and is linear in the constant of the Néel surface anisotropy. © 2007 The American Physical Society

Bringing me more than I contain … Discourse, Subjectivity and the Scene of Teaching in Totality and Infinity

This paper explores the relationship between language, subjectivity and teaching in Emmanuel Levinas’s 'Totality and Infinity.' It aims to elucidate Levinas’s presentation of language as always already predicated on a relationship of responsibility towards that which is beyond the self, and the idea that it is only in this condition of being responsible that we are subjects. Levinas suggests that the relation with the Other through which I am a subject as one uniquely responsible is also the scene of teaching. Through examining these ethical conditions of subjectivity, I suggest that this notion of the self as oriented towards the Other in a relation of passivity presents a challenge to many of the standard topoi of teaching and learning and invite us to consider the nature of teaching in a provocative new manner