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Is Europe an Optimum Currency Area? Business Cycles in the EU
( Guglielmo Maria Caporale ),( Nikitas Pittis ),( Kyprianos Prodromidis ) 세종대학교 경제통합연구소(구 세종대학교 국제경제연구소) 1999 Journal of Economic Integration Vol.14 No.2
This paper aims to assess whether the EU is an optimum currency area (OCA) by examining synchronization of business cycles and long-run output linkages in the EU countries. We argue that a necessary condition for the desirability of EMU membership for national economies is that the degree of persistence of shocks affecting them should be similar Given the low power of unit root tests, we measure the relative importance of permanent versus transitory components in output. The existence of a "European business cycle" is confirmed by correlation and cointegration analysis respectively. Finally, it appears that monetary coordination, by reducing exchange rate volatility, results in more synchronised cycles. EMU is therefore likely to be a successful experience, since the benefits of monetary integration will outweigh the costs of surrendering the exchange rate instrument. (JEL Classification: E42, F36, F42)
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Is Europe an Optimum Currency Area? Business Cycles In the EU
Caporale, Guglielmo Maria,Pittis, Nikitas,Peodromidis, Kyprianos 세종대학교 국제경제연구소 1999 Journal of Economic Integration Vol.14 No.2
This paper aims to assess whether the EU is an optimum currency area(OCA) by examining synchronization of business cycle and long-run output linkages in the EU countries. We argue that a necessary condition for the desirability of EMU membership for national economies is that the degree of persistence of shocks affecting them should be similar. Given the low power of unit root tests, we measure the relative importance of permanent versus transitory components in output. The existence of a "European business cycle" is confirmed by correlation and cointegration analysis respectively. Finally, it appears that monetary coordination, by reducing exchange rate volatility, results in more synchronised cycles. EMU is therefore likely to be a successful experience, since the benefits of monetary integration will outweigh the costs of surrendering the exchange rate instrument. (JEL Classification: E42, F36, F42)
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Menon, Uthara,Poongodi, V,Raghuram, Pitty Hari,Ashokan, Kannan,Govindarajan, Giri Valanthan Veda,Ramanathan, Arvind Asian Pacific Journal of Cancer Prevention 2015 Asian Pacific journal of cancer prevention Vol.16 No.11
Background: Missense and frame-shift mutations within the dimer forming domain of the caspase 8 gene have been identified in several cancers. However, the genetic status of this region in precancerous lesions, like oral submucous fibrosis (OSMF), and well differentiated oral squamous cell carcinomas (OSCCs) in patients from southern region of India is not known, and hence the present study was designed to address this issue. Materials and Methods: Genomic DNA isolated from biopsy tissues of thirty one oral submucous fibrosis and twenty five OSCC samples were subjected to PCR amplification with intronic primers flanking exon 7 of the caspase 8 gene. The PCR amplicons were subsequently subjected to direct sequencing to elucidate the status of mutation. Results: Sequence analysis identified a frame-shift and a novel missense mutation in two out of twenty five OSCC samples. The frame-shift mutation was due to a two base pair deletion (c.1225_1226delTG), while the missense mutation was due to substitution of wild type cysteine residue with phenylalanine at codon 426 (C426F). The missense mutation, however, was found to be heterozygous as the wild type C426C codon was also present. None of the OSMF samples carried mutations. Conclusions: The identification of mutations in OSCC lesions but not OSMF suggests that dimer forming domain mutations in caspase 8 may be limited to malignant lesions. The absence of mutations in OSMF also suggests that the samples analyzed in the present study may not have acquired transforming potential. To the best of our knowledge this is the first study to have explored and identified frame-shift and novel missense mutations in OSCC tissue samples.
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