What caused the Great Moderation? : some cross-country evidence

Over the last 20 years or so, the volatility of aggregate economic activity has fallen dramatically in most of the industrialized world. The timing and nature of the decline vary across countries, but the phenomenon has been so widespread and persistent that it has earned the label: “the Great Moderation.” A growing body of research has focused on the Great Moderation and its possible explanations, especially as it applies to the U.S. experience. The literature documents the international dimension of this volatility reduction, but so far little is known about the possible causes from a cross-country perspective. Summers shows why the Great Moderation has indeed been a common feature of much of the industrialized world. Specifically, he focuses on the reduction in the volatility of GDP growth that occurred in the G-7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) and Australia. He uses international evidence to evaluate the merits of three likely explanations. He concludes that, from an international perspective, good luck in the form of smaller energy price shocks is not a compelling explanation for widespread moderation of GDP growth volatility. Rather, the Great Moderation is more likely due to better monetary policy outcomes and improved inventory management techniques.Gross domestic product ; Group of Seven countries ; Monetary policy

Sub-matrix updates for the Continuous-Time Auxiliary Field algorithm

We present a sub-matrix update algorithm for the continuous-time auxiliary field method that allows the simulation of large lattice and impurity problems. The algorithm takes optimal advantage of modern CPU architectures by consistently using matrix instead of vector operations, resulting in a speedup of a factor of $\approx 8$ and thereby allowing access to larger systems and lower temperature. We illustrate the power of our algorithm at the example of a cluster dynamical mean field simulation of the N\'{e}el transition in the three-dimensional Hubbard model, where we show momentum dependent self-energies for clusters with up to 100 sites

Study protocol for a randomised controlled trial of invasive versus conservative management of primary spontaneous pneumothorax

INTRODUCTION: Current management of primary spontaneous pneumothorax (PSP) is variable, with little evidence from randomised controlled trials to guide treatment. Guidelines emphasise intervention in many patients, which involves chest drain insertion, hospital admission and occasionally surgery. However, there is evidence that conservative management may be effective and safe, and it may also reduce the risk of recurrence. Significant questions remain regarding the optimal initial approach to the management of PSP

A unified framework for verification techniques for object invariants

Object invariants define the consistency of objects. They have subtle semantics, mainly because of call-backs, multi-object invariants, and subclassing. Several verification techniques for object invariants have been proposed. It is difficult to compare these techniques, and to ascertain their soundness, because of their differences in restrictions on programs and invariants, in the use of advanced type systems (e.g., ownership types), in the meaning of invariants, and in proof obligations. We develop a unified framework for such techniques. We distil seven parameters that characterise a verification technique, and identify sufficient conditions on these parameters which guarantee soundness. We instantiate our framework with three verification techniques from the literature, and use it to assess soundness and compare expressiveness.peer-reviewe

Skin Cancers Among Albinos at a University Teaching Hospital in Northwestern Tanzania: A Retrospective Review of 64 Cases.

Skin cancers are a major risk associated with albinism and are thought to be a major cause of death in African albinos. The challenges associated with the care of these patients are numerous and need to be addressed. The aim of this study was to outline the pattern and treatment outcome of skin cancers among albinos treated at our centre and to highlight challenges associated with the care of these patients and proffer solutions for improved outcome. This was a retrospective study of all albinos with a histopathological diagnosis of skin cancer seen at Bugando Medical Centre from March 2001 to February 2010. Data collected were analyzed using descriptive statistics. A total of 64 patients were studied. The male to female ratio was 1.5:1. The median age of patients was 30 years. The median duration of illness at presentation was 24 months. The commonest reason for late presentation was financial problem. Head and the neck was the most frequent site afflicted in 46(71.8%) patients. Squamous cell carcinoma was the most common histopathological type in 75% of cases. Surgical operation was the commonest modality of treatment in 60 (93.8%) patients. Radiotherapy was given in 24(37.5%) patients. Twenty-seven (42.2%) of the patients did not complete their treatment due to lack of funds. Local recurrence following surgical treatment was recorded in 6 (30.0%) patients. Only thirty-seven (61.7%) patients were available for follow-up at 6-12 months and the remaining patients were lost to follow-up. Skin cancers are the most common cancers among albinos in our environment. Albinism and exposure to ultraviolet light appears to be the most important risk factor in the development of these cancers. Late presentation and failure to complete treatment due to financial difficulties and lack of radiotherapy services at our centre are major challenges in the care of these patients. Early institution of preventive measures, early presentation and treatment, and follow-up should be encouraged in this population for better outcome

Nurses\u27 Alumnae Association Bulletin, June 1969

Alumnae President\u27s Message Officers and Chairmen Financial Report Progressive Changes at Jefferson School of Nursing Report Student Activities School of Practical Nursing Report Jefferson Expansion Report Clerk-Typist Report Committee Reports Resume of Alumnae Meetings Class News 1969 CLINIC Correspondence Notice

Cyclotron resonance lineshape in a Wigner crystal

The cyclotron resonance absorption spectrum in a Wigner crystal is calculated. Effects of spin-splitting are modelled by substitutional disorder, and calculated in the coherent potential approximation. Due to the increasing strength of the dipole-dipole interaction, the results show a crossover from a double-peak spectrum at small filling factors to a single-peak spectrum at filling factors \agt 1/6. Radiation damping and magnetophonon scattering can also influence the cyclotron resonance. The results are in very good agreement with experiments.Comment: 4 pages REVTEX, attempt to append 3 figures that seem to have been lost last tim