A two-tiered mechanism for stabilization and immobilization of E-cadherin

Epithelial tissues maintain a robust architecture which is important for their barrier function, but they are also remodelled through the reorganization of cell-cell contacts. Tissue stability requires intercellular adhesion mediated by E-cadherin, in particular its trans-association in homophilic complexes supported by actin filaments through beta- and alpha-catenin. How alpha-catenin dynamic interactions between E-cadherin/beta-catenin and cortical actin control both stability and remodelling of adhesion is unclear. Here we focus on Drosophila homophilic E-cadherin complexes rather than total E-cadherin, including diffusing 'free' E-cadherin, because these complexes are a better proxy for adhesion. We find that E-cadherin complexes partition in very stable microdomains (that is, bona fide adhesive foci which are more stable than remodelling contacts). Furthermore, we find that stability and mobility of these microdomains depend on two actin populations: small, stable actin patches concentrate at homophilic E-cadherin clusters, whereas a rapidly turning over, contractile network constrains their lateral movement by a tethering mechanism. alpha-Catenin controls epithelial architecture mainly through regulation of the mobility of homophilic clusters and it is largely dispensable for their stability. Uncoupling stability and mobility of E-cadherin complexes suggests that stable epithelia may remodel through the regulated mobility of very stable adhesive foci.     

On estimating contemporaneous quarterly regional GDP

Subnational regional jurisdictions rarely have at their disposal a reasonable array of timely statistics to monitor their economic condition. In light of this, we develop a procedure that simultaneously estimates a quarterly time series for all regions of a country based upon quarterly national and annual regional data. While other such techniques exist, we suggest a temporal error structure that eliminates possible spurious jumps. Using our approach, regional analysts should now be able to distribute national growth among regions as soon as quarterly national figures are released. In a Spanish application, we detail some practicalities of the process and show that our proposal produces better estimates than the uniregional methods often used. Copyright © 2007 John Wiley & Sons. Ltd.     

Chromatin circles in amphibian previtellogenic oocytes

Summary Previtellogenic oocytes ofOdontophrynus americanus display hundreds of chromatin circles. Electron microscopy of spread preparations of isolated nuclei shows that the circles originate from the chromatin. The circles change their morphology and form new copies. The length of the DNA packed in the nucleosomal circles is about 2.5–3.5 m or multiples of this value. Assuming that histones need not be removed from chromatin before DNA replication³ we suggest that the circles might belong to the process of rDNA amplification.This work was supported by grants from the Brazilian CNPq, FAPESP and FEDIB.We thank Dr A. Brunner Jr for the use of the electron microscope and Dr N. Leon for his valuable help.     

Chiral supramolecular gold-cysteine nanoparticles: Chiroptical and nonlinear optical properties

Cysteine is a sulfur-containing amino acid that easily coordinates to soft metal ions and grafts to noble metal surfaces. We report a simple synthetic approach for the production of chiral gold-cysteine polymeric nanoparticles soluble in water. Conjugation of cysteine with gold in a polymeric way, leading to ~50 nm diameter nanoparticles, resulted in the generation of new characteristic circular dichroism (CD) signals in the region of 250–400 nm, whereas no CD signal changes were found with cysteine alone. We also investigate their nonlinear optical properties after two-photon absorption. Two-photon emission spectra and first hyper-polarizabilities, as obtained by the hyper-Rayleigh scattering technique, of these particles are presented.     

Oil financialization and volatility forecast: Evidence from multidimensional predictors

Using the generalized dynamic factor model, this study constructs three predictors of crude oil price volatility: a fundamental (physical) predictor, a financial predictor, and a macroeconomic uncertainty predictor. Moreover, an event‐triggered predictor is constructed using data extracted from Google Trends. We construct GARCH‐MIDAS (generalized autoregressive conditional heteroskedasticity–mixed‐data sampling) models combining realized volatility with the predictors to predict oil price volatility at different forecasting horizons. We then identify the predictive power of the realized volatility and the predictors by the model confidence set (MCS) test. The findings show that, among the four indexes, the financial predictor has the most predictive power for crude oil volatility, which provides strong evidence that financialization has been the key determinant of crude oil price behavior since the 2008 global financial crisis. In addition, the fundamental predictor, followed by the financial predictor, effectively forecasts crude oil price volatility in the long‐run forecasting horizons. Our findings indicate that the different predictors can provide distinct predictive information at the different horizons given the specific market situation. These findings have useful implications for market traders in terms of managing crude oil price risk.     

Nowcasting with Google Trends in an Emerging Market

Most economic variables are released with a lag, making it difficult for policy‐makers to make an accurate assessment of current conditions. This paper explores whether observing Internet browsing habits can inform practitioners about aggregate consumer behavior in an emerging market. Using data on Google search queries, we introduce an index of online interest in automobile purchases in Chile and test whether it improves the fit and efficiency of nowcasting models for automobile sales. Despite relatively low rates of Internet usage among the population, we find that models incorporating our Google Trends Automotive Index outperform benchmark specifications in both in‐sample and out‐of‐sample nowcasts, provide substantial gains in information delivery times, and are better at identifying turning points in the sales data. Copyright © 2011 John Wiley & Sons, Ltd.     

Twisting the Dollar? On the Consistency of Short‐Run and Long‐Run Exchange Rate Expectations

We examine consistency properties of the exchange rate expectation formation process of short‐run and long‐run forecasts in the dollar/euro and yen/dollar market. Applying nonlinear consistency restrictions we show that in a simple expectation formation structure short‐run forecasts are indeed inconsistent with long‐run predictions. Moreover, we establish a ‘twist’ in the dollar/euro expectation formation process, i.e. market participants expect bandwagon effects in the short run, while they have stabilizing expectations in their long‐run forecasts. Applying a panel probit analysis we find that this twisting behavior is more likely to occur in periods of excess exchange rate volatility. Copyright © 2011 John Wiley & Sons, Ltd.     

Predicting Recessions with Factor Linear Dynamic Harmonic Regressions

We propose a new framework for building composite leading indicators for the Spanish economy using monthly targeted predictors and small‐scale dynamic factor models. Our leading indicator index, based on the low‐frequency components of four monthly economic variables, is able to predict the onset of the Spanish recessions as well as the gross domestic product (GDP) growth cycles and classical industrial production cycles, both historically and in real time. Also, our leading indicator provides substantial aid in forecasting annual and quarterly GDP growth rates. Using only real data available at the beginning of each forecast period, our indicator one‐step‐ahead forecasts shows substantial improvements over other alternatives. Copyright © 2013 John Wiley & Sons, Ltd.