Optimal Central Bank Conservativeness in an Open Economy

This paper develops a graphical method to determinethe optimal degree of central bank conservativeness inan open economy. Unlike Rogoff (1985a), the upper andlower bounds of the interval containing the optimaldegree of conservativeness are expressed in terms ofthe structural parameters of the model. It is shownthat optimal central bank conservativeness is higher,the higher the natural rate of unemployment, thegreater the benefits of unanticipated inflation, theless inflation-averse society, the smaller thevariance of productivity shocks, the smaller realexchange rate variability and the smaller the opennessof the economy. These propositions are tested fornineteen industrial countries for the period1960–1993. In testing the model we employ a latentvariables method (LISREL) in order to distinguishbetween actual and optimal monetary regimes.     

Changes in the lung connective tissue framework in sudden infant death (SIDS)

Light microscopy findings are reported on the interstitial connective tissue framework of 45 lungs from babies who died within the first 2 years of life. Thirty were confirmed cases of SIDS and 15 were controls of similar age who died of known causes. The stains applied were H & E, PAS, Prussian blue, Elastica van Gieson, Trichrom (Masson-Goldner), Gomori's silver methenamine and Picro-Sirius polarization (modified). Particular attention was paid to type I and type III collagen, reticulin fibers and ground substance. All investigated cases showed evidence of chronic recurrent interstitial edema in a highly significant frequency and intensity in contrast to the controls. Areas of recent and persistent lymphedema were observed, some of them with reactive fibroplastic activity, which tended towards gradual fibrosis. These changes were irregularly distributed and frequently involved the mural interstitium. Considering the effects of such changes on expansibility, ventilation and perfusion of the lungs, as well as the impairment of gas diffusion, the findings described could be significant in the forensic evaluation of the signs of asphyxia found in most cases of SIDS.     

Sudden infant death--fatal poisoning with pheniramine

A case of unintentional fatal intoxication of a 10 month-old baby with the anti-histamine Pheniramine (Avil) is reported. On the face value and without an autopsy this case parallels familiar cases of SIDS and had for this reason been certified as such. Autopsy, however, revealed 32 partly dissolved tablets which proved to be Phenyramine. High concentrations of Pheniramine were found in body fluids and various tissues. According to official investigations, the tablets were offered to the baby by his 3 1/2 year old sister who probably believed they were sweets.     

Technology transfer negotiations: Determinants of MNEs' bargaining power

Technology is, perhaps, the most desirable attribute of multinational enterprises (MNEs) to the less developed countries (LDCs) and constitutes their primary source of bargaining power. Similarly, the attractiveness of a market to the MNEs constitutes LDCs' principal source of negotiating strength in dealing with MNEs on such matters as the conditions for investment and technology transfer. What is unclear is how these independent variables are most successfully utilized. The aim of this paper is to identify and examine the bargaining power variables and their level of influence in technology transfer negotiations. The result shows that though technology is always a source of negotiating strength to MNEs, locational attractiveness may not always be a significant source of bargaining power to LDCs in all negotiations with multinational enterprises.     

Forensic significance of lesions of the sinus node in cases of sudden death of unknown origin

Report on a systematical histological investigation of sinu-atrial nodes in strongly suspected cases of cardiac death in which no pertinent myocardial or coronary changes were found. In over 40% of the cases studied there were histopathological changes in the mixed tissue components of the sinu-atrial node which were highly suggestive of severe or fatal functional impairment.     

Effects of obesity on talar micro- and macro-morphology

The addition of information regarding obesity status to the forensic anthropological biological profile could significantly contribute to the identification of human skeletal remains since over 40% of the U.S. adult population is currently obese. This study examines the differences in talar shape and trabecular bone structure between obese and non-obese individuals. A sample of 20 obese and 20 non-obese divided evenly by sex was selected from the Texas State University Donated Skeletal Collection. Tali were imaged using x-ray computed tomography (voxel size: 28–38.7 μm). Image stacks were processed to produce binary images as well as trabecular thickness and spacing maps. Landmark-based geometric morphometric analyses were conducted to quantify shape variation. Shape coordinates were used to locate 100 geometrically homologous volumes of interest within each talus. Bone volume fraction, trabecular thickness, and trabecular spacing were extracted at each volume of interest. Within each sex, a one-way ANCOVA was used to determine if significant differences exist between obese and non-obese individuals in trabecular bone after controlling for age. The size of the talus as well as subtle aspects of shape were found to distinguish the sexes. The results further indicate that bone volume fraction significantly differs between obese and non-obese males. In females, bone volume fraction is correlated with age but does not differ between obese and non-obese. The study demonstrates that bone microstructure is a promising approach to estimating body mass or body mass index category but age effects diminish the potential for the talus to be used alone.     

Not again! Public perception,regulation, and nanotechnology

It is often argued that immediate government action regarding nanotechnology is needed to ensure that public opinion does not mistakenly view nanotechnology as dangerous, to restore public trust in government, and to increase the legitimacy of government action through increased public participation. This article questions whether governments can achieve these goals. As the world lurches toward regulation of nanotechnology, we should ask Why the rush? Can anticipatory action, perceived as the government doing something, fulfill the competing hopes to “restore trust,”“pave the way” for nanotechnology, “increase awareness,” and “satisfy democratic notions of accountability”? Or is government action more likely to increase existing divisions over nanotechnology's future?     

Policyholder Litigation Challenging the Claims-Handling Conduct of Resolute Management

Over the past decade, Berkshire Hathaway has engaged in numerous “retroactive reinsurance” transactions whereby it takes on another insurer's long-tail environmental and asbestos coverage obligations in exchange for payment of a large sum of cash by the insurer. The cash that Berkshire receives from the insurer typically is the amount of cash that the insurer had reserved to pay policyholder claims on these coverage obligations. Warren Buffet has referred to these large sums received from an insurer as “float,” characterized as “money that doesn't belong to us but that we get to invest for Berkshire's benefit.” The lure of holding on to float for investment purposes has led to aggressive efforts by Berkshire's claims-handling unit, Resolute Management, to reduce and delay claims payments to policyholders. In response, a number of policyholders have initiated lawsuits and other proceedings against Berkshire entities and their related insurers.