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INFLATION COSTS, UNCERTAINTY COSTS AND EMERGING MARKETS
WILLIAM MILES;SAMUEL SCHREYER 경제연구소 2009 Journal of Economic Development Vol.34 No.2
Given the costs to real output that inflation uncertainty has been shown to impose, two recent papers have investigated the interaction of inflation and uncertainty for a group of emerging market nations. Both papers find that an increase in inflation almost invariably increases uncertainty in developing countries. This finding accords with the Friedman hypothesis and with most results for industrialized countries. However, there is both theoretical and some tentative empirical evidence suggesting that, when inflation is high, and thus costly, an increase in inflation can spur greater investment in predicting the path of prices, and actually reduce rather than increase uncertainty. This possibility is particularly relevant for emerging markets, some of which have histories of high inflation. Using a somewhat different empirical methodology than previous authors, we find that inflation does indeed lower uncertainty at some horizons, and, as per theory, does so predominantly in those countries in our sample with the higher rates of inflation.
INFLATION COSTS, UNCERTAINTY COSTS AND EMERGING MARKETS
WILLIAM MILES,SAMUEL SCHREYER 중앙대학교 경제연구소 2009 Journal of Economic Development Vol.34 No.2
Given the costs to real output that inflation uncertainty has been shown to impose, two recent papers have investigated the interaction of inflation and uncertainty for a group of emerging market nations. Both papers find that an increase in inflation almost invariably increases uncertainty in developing countries. This finding accords with the Friedman hypothesis and with most results for industrialized countries. However, there is both theoretical and some tentative empirical evidence suggesting that, when inflation is high, and thus costly, an increase in inflation can spur greater investment in predicting the path of prices, and actually reduce rather than increase uncertainty. This possibility is particularly relevant for emerging markets, some of which have histories of high inflation. Using a somewhat different empirical methodology than previous authors, we find that inflation does indeed lower uncertainty at some horizons, and, as per theory, does so predominantly in those countries in our sample with the higher rates of inflation.
Christoph Niessen,Ernst Michael Jung,Walter A. Wohlgemuth,Benedikt Trabold,Michael Haimerl,Andreas Schreyer,Christian Stroszczynski,Philipp Wiggermann 대한영상의학회 2013 Korean Journal of Radiology Vol.14 No.5
We report in a 65-year-old man hepatocellular carcinoma adjacent to a transjugular intrahepatic portosystemic shunt stent-graft which was successfully treated with irreversible electroporation (IRE). IRE is a new non-thermal tissue ablation technique which uses electrical pulses to induce cell necrosis by irreversible membrane poration. IRE proved to be more advantageous in the ablation of perivascular tumor with little injury to the surrounding structures.
Metabolic engineering of Escherichia coli for direct production of 1,4-butanediol
Yim, Harry,Haselbeck, Robert,Niu, Wei,Pujol-Baxley, Catherine,Burgard, Anthony,Boldt, Jeff,Khandurina, Julia,Trawick, John D,Osterhout, Robin E,Stephen, Rosary,Estadilla, Jazell,Teisan, Sy,Schreyer, H Nature Publishing Group, a division of Macmillan P 2011 Nature chemical biology Vol.7 No.7
1,4-Butanediol (BDO) is an important commodity chemical used to manufacture over 2.5 million tons annually of valuable polymers, and it is currently produced exclusively through feedstocks derived from oil and natural gas. Herein we report what are to our knowledge the first direct biocatalytic routes to BDO from renewable carbohydrate feedstocks, leading to a strain of Escherichia coli capable of producing 18 g l<SUP>??1</SUP> of this highly reduced, non-natural chemical. A pathway-identification algorithm elucidated multiple pathways for the biosynthesis of BDO from common metabolic intermediates. Guided by a genome-scale metabolic model, we engineered the E. coli host to enhance anaerobic operation of the oxidative tricarboxylic acid cycle, thereby generating reducing power to drive the BDO pathway. The organism produced BDO from glucose, xylose, sucrose and biomass-derived mixed sugar streams. This work demonstrates a systems-based metabolic engineering approach to strain design and development that can enable new bioprocesses for commodity chemicals that are not naturally produced by living cells.