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Understanding Exchange Rate Movements during the 2008 Financial Crisis
Simon Shui-Ming Wan 한국국제경제학회 2015 International Economic Journal Vol.29 No.1
During the 2008 financial crisis, many advanced economies, whose banking systems suffered significant capital losses, experienced large and rapid exchange rate depreciations followed by prolonged and gradual appreciation in subsequent periods. In order to understand one possible explanation of these observed exchange rate movements, we develop a simple model of a highly leveraged banking sector in which banks obtain part of their funding from abroad. A fall in bank net worth leads to foreign lenders demanding a higher risk premium on credit supplied to domestic banks. This higher risk premium can be met if the exchange rate experiences an appreciation along the adjustment path, since this raises the value of the bank's earnings in terms of the foreign currency for every period that the foreign risk premium is elevated. In order for the exchange rate to appreciate by a large amount along the adjustment path, it must initially become undervalued – relative to its long-run level – so that in equilibrium the market is willing to bid up its value in subsequent periods. This thus gives rise to the large initial depreciation of the exchange rate followed by its prolonged and gradual appreciation.
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Study on aerodynamic coefficients and responses of the integrated catwalk of Halogaland Bridge
Wan, Jia-wei,Wang, Qi,Liao, Hai-li,Li, Ming-shui Techno-Press 2017 Wind and Structures, An International Journal (WAS Vol.25 No.3
Wind tunnel tests and numerical aerodynamic analyses were conducted for an integrated catwalk structure under strong winds. From the wind tunnel tests, it is found that the aerodynamic coefficients were different from those of the typical type. The drag coefficient was larger than typical and was sensitive to number of vertical meshes installed rather than the solidity ratio. Comparing with typical catwalk, the integrated one showed larger deformation under strong wind, and the large torsional deformation are mainly caused by drag force. It did not show aerodynamic divergence even the torsional deformation reaching $20^{\circ}$. The reason could be that the stiffness is smaller and thus the catwalk is able to deform to the shape compactable with higher loading. Considering safety for construction, storm rope system is introduced to the catwalk to reduce the deformation to acceptable level.
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Risk Factors of Hepatocellular Carcinoma - Current Status and Perspectives
Gao, Jing,Xie, Li,Yang, Wan-Shui,Zhang, Wei,Gao, Shan,Wang, Jing,Xiang, Yong-Bing Asian Pacific Journal of Cancer Prevention 2012 Asian Pacific journal of cancer prevention Vol.13 No.3
Hepatocellular carcinoma is a common disorder worldwide which ranks 5th and 7th most common cancer among men and women. In recent years, different incidence trends have been observed in various regions, but the reasons are not completely understood. However, due to the great public efforts in HCC prevention and alternation of lifestyle, the roles of some well documented risk factors played in hepatocarcinogenesis might have changed. This paper summarizes both the environmental and host related risk factors of hepatocellular carcinoma including well established risk factors such as hepatitis virus infection, aflatoxin and alcohol, as well as possible risk factors such as coffee drinking and other dietary agents.
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Sleep Duration and Cancer Risk: a Systematic Review and Meta-analysis of Prospective Studies
Zhao, Hao,Yin, Jie-Yun,Yang, Wan-Shui,Qin, Qin,Li, Ting-Ting,Shi, Yun,Deng, Qin,Wei, Sheng,Liu, Li,Wang, Xin,Nie, Shao-Fa Asian Pacific Journal of Cancer Prevention 2013 Asian Pacific journal of cancer prevention Vol.14 No.12
To assess the risk of cancers associated with sleep duration using meta-analysis of published cohort studies, we performed a comprehensive search using PubMed, Embase and Web of Science through October 2013. We combined hazard ratios (HRs) from individual studies using meta-analysis approaches. A random effect dose-response analysis was used to evaluate the relationship between sleep duration and cancer risk. Subgroup analyses and sensitivity analyses were also performed. Publication bias was evaluated using Funnel plots and Begg's test. A total of 13 cohorts from 12 studies were included in this meta-analysis, which included 723, 337 participants with 15, 156 reported cancer outcomes during a follow-up period ranging from 7.5 to 22 years. The pooled adjusted HRs were 1.06 (95% CI: 0.92, 1.23; P for heterogeneity =0.003) for short sleep duration, 0.91 (95% CI: 0.78, 1.07; P for heterogeneity <0.0001) for long sleep duration. In subgroup analyses stratified by cancer type, long duration of sleep showed an inverse relation with hormone-related cancer (HR=0.79; 95% CI: 0.65, 0.97; P for heterogeneity =0.009) and a greater risk of colorectal cancer (HR=1.29; 95% CI: 1.09, 1.52; P for heterogeneity =0.346). Further meta-analysis on dose-response relationships showed that the relative risks of cancer were 1.00 (95% CI: 0.99, 1.01; P for linear trend=0.9151) for one hour of sleep increment per day, and 1.00 (95% CI: 0.98, 1.01; P for linear trend=0.7749) for one hour of sleep increment per night. No significant dose-response relationship between sleep duration and cancer was found on non-linearity testing (P=0.5053). Our meta-analysis suggests a positive association between long sleep duration and colorectal cancer, and an inverse association with incidence of hormone related cancers like those in the breast. Studies with larger sample size, longer follow-up times, more cancer types and detailed measure of sleep duration are warranted to confirm these results.
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Hui-hui Xie,Lin Chen,Fa-qing Xu,Wan-sheng Guo,Shui Wang,Zhong-Nan Yang,Sen Zhang 한국식물학회 2017 Journal of Plant Biology Vol.60 No.4
Pollen exine, mainly composed of sporopollenin,plays important roles during microspore development. It hasbeen reported that Acyl-CoA Synthetase5 (ACOS5) is requiredfor sporopollenin biosynthesis in Arabidopsis. Here we showthat ACOS5 is essential for primexine formation duringArabidopsis microspore development. Through genetic screen,we identified a point mutation of ACOS5 allele, acos5-2,showing abnormal microspore development. Its microsporeswere degenerated and aborted after released from the tetrads. Transmission electron microscopy showed that primexineformation was reduced in acos5-2 mutant as compared tothat of the wild-type. Consequently, sporopollenin wasaggregated and randomly deposited on the microspores. Insitu hybridization indicated that the key regulators of tapetumdevelopment, DYT1 and TDF1, are required for the expressionof ACOS5 in tapetum. Furthermore, the GUS reporter showedthat the 593-bp promoter sequence was sufficient for theexpression of ACOS5 in the anther. Our data provide evidencethat ACOS5 is required for primexine formation andsporopollenin deposition during microspore development.
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