Constructing and evaluating core inflation measures from component‐level inflation data

This paper undertakes a comprehensive examination of 10 measures of core inflation and evaluates which measure produces the best forecast of headline inflation out‐of‐sample. We use the Personal Consumption Expenditure Price Index as our measure of inflation. We use two sets of components (17 and 50) of the Personal Consumption Expenditure Price Index to construct these core inflation measures and evaluate these measures at the three time horizons (6, 12 and 24 months) most relevant for monetary policy decisions. The best measure of core inflation for both sets of components and over all time horizons uses weights based on the first principal component of the disaggregated (component‐level) prices. Interestingly, the results vary by the number of components used; when more components are used the weights based on the persistence of each component is statistically equivalent to the weights generated by the first principal component. However, those forecasts using the persistence of 50 components are statistically worse than those generated using the first principal component of 17 components. The statistical superiority of the principal component method is due to the fact that it extracts (in the first principal component) the common source of variation in the component level prices that accurately describes trend inflation over the next 6–24 months.     

Photon emission of phagocytes in relation to stress and disease.

Phagocytes, the first-line cells of the body's defence mechanisms against invading pathogens, kill microorganisms by means of lysosomal degradative enzymes and highly toxic reactive oxygen intermediates. The reactive oxygen compounds are produced, in a process called the 'respiratory burst', by the NADPH oxidase complex in plasma membranes, and by myeloperoxidase in phagolysosomes after degranulation. These processes generate electronically excited states which, on relaxation, emit photons, giving rise to phagocyte chemiluminescence (CL). This paper describes the conditions for the measurement of CL, and reviews the activity of phagocytes from individuals undergoing stress or disease. The capability of phagocytes to emit photons reflects remarkably well the pathophysiological state of the host. In many cases even the magnitude of the stress, the presence of a pathogen in the body, or the activity of the disease can be estimated. Physiological changes, e.g. in the reproductive cycle, can also be predicted.     

A propos d'antibiotiques insolubles

Summary The authors show the antibiotic activity of water-insoluble salts of hydrosoluble antibiotics in the case of penicillin G (salts of iron, copper, silver, gold, and uranium) and streptomycin (oleate).     

Experimental gout from alloxan in pigeons. Findings in the joints and serous membranes

Zusammenfassung Bei Tauben erzeugt intravenös gegebenes Alloxan bekanntlich Läsionen, die denen der Eingeweidegicht ähneln. Chemische und mikroskopische Untersuchungen zeigten eine große Menge von Uraten auf Perikardium, Peritoneum und Pleura. Die große Zunahme der Harnsäure im Blute, die von anderen Autoren kolorimetrisch festgestellt wurde, wird durch die Urikasemethode bestätigt. In der vorliegenden Mitteilung wird weiterhin über ein der Gelenkgicht ähnliches Bild bei alloxanbehandelten Tauben berichtet. Verschiedene Tierarten mit einem «ureotelic-proteic metabolism» zeigen nach Alloxan weder eine nennenswerte Harnsäurezunahme im Blut noch eine Gicht der Eingeweide oder der Gelenke.     

New Membranes Based on Polybenzimidazole for Polymer Fuel Cells

1 Results Acid-doped polybenzimidazoles[1] are particularly appealing because of high proton conductivity with no or low humidification and promising fuel cells performances. PBI, in fact, contains basic functional groups which can easily interact with strong oxo-acids, such as H3PO4 and H2SO4. The acid partially protonates the polymer and partially is freely dispersed in the polymer backbone, so allowing proton migration via Grotthuss mechanism along the anionic chains[2]. Anyway, a technological limit...     

Polarized Emission of Molecular Film With Lanthanide (Ⅲ) Complex

1 Results In the coordination system by using complexation with organic ligand, the ff emission of lanthanide(Ⅲ) (Ln(Ⅲ)) is induced the excitation energy transfer form the organic chromophore under the light-irradiation. However, there are not so much number of reports to discuss the energy relaxation mechanism in such complexes with Ln(Ⅲ). Recently, we succeeded firstly to estimate the rate constant of the energy transfer between the ligand and Ln(Ⅲ) in Pr(Ⅲ)-phenanthroline analogs[1]. Here, we will di...