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The Chemotherapy Experience

More than half of people diagnosed with cancer are treated with chemotherapy. Chemotherapy is a drug that is given to stop cancer cells from growing or to kill them. The type of chemotherapy given depends on the type of cancer the person has been diagnosed, the stage of the cancer and the overall health of the individual. While chemotherapy is a very common treatment option, the experience of chemotherapy is unique to each person. The goal of therapy is to make the experience as effective, timely and problem free as possible.

The Effectiveness of Fiscal Policy as Stabilization Policy

Perspectives among economists on the usefulness of fiscal policy as a device for macroeconomic management have moved back and forth over the years. Belief in the active use of the tools of fiscal policy may have reached a relative peak sometime during the 1960s or early 1970s, and practice followed theory. In the United States, perhaps the best illustration of the evolution of theory and practice comes from the investment tax credit (ITC), which, when it was in effect, provided businesses with a strong incentive for equipment investment.

Analyzing Immunotherapy and Chemotherapy of Tumors

The development of immunotherapy intreating certain forms of cancer has recently become an exciting new focus in cancer research. In some preliminary studies, immunotherapyhas been found to be most effective when administered in conjunction with chemotherapy[89]. Precisely how various types of immunotherapy work, and how they should optimally be administered, either alone or in conjunction with chemotherapy, is not yet well understood. We propose to contribute to the emerging body of cancer treatmentresearchby developing and analyzing new mathematical models of the treatment of cancer that include vaccine therapy, activated anticancer-cell transfers, and activation protein injections in combination with chemotherapy.

How much do banks use credit derivatives to reduce risk?

Credit derivatives are bilateral financial contracts with payoffs linked to a credit related event such as a default, credit downgrade or bankruptcy. A bank can use a credit derivative to transfer some or all of the credit risk of a loan to another party or to take additional risks. In principle, credit derivatives are tools that enable banks to manage their portfolio of credit risks more efficiently. The promise of these instruments has not escaped regulators and policymakers.

Risk Overhang and Market Behavior

In this paper we show that an overhang of risk from continuing exposure to past transactions can affect current business decisions, reducing activity. Our work builds on that of Froot, Scharfstein, and Stein (1993), who show that capital market imperfections can cause otherwise risk-neutral firms to behave in a risk-averse fashion, and that negative shocks to internal capital make firms more risk averse. Given these results, consider the firm's business lines as a portfolio. All else equal, an effectively risk-averse firm will try to smooth exposures across different areas.

Equilibrium Unemployment and Investment Under Product and Labour Market Imperfections

We analyze the interaction between labour and product market imperfections as well as the role of investment behaviour affected by capital markets from the point of view of equilibrium unemployment. Our study fulfils a twofold purpose. Firstly, we explore the impact of long-term investments on wage formation, and thereby on unemployment, in an economy characterized by labour and product market imperfections. Secondly, we investigate the consequences of imperfections in the product market on equilibrium unemployment.

Endogenous Asset-Price Fluctuations in a Credit-Financed Economy

Over the past twenty five years, the interest in investigating the economic forces behind asset price fluctuations has triggered a growing body of literature focusing on the interrelations between finance and acroeconomics. Guided by the logic of arbitrage, according to which aggregate expected returns can only depend on non disversiable risk factors (Ross [1976]), empirical research has focused on seeking which set of macroeconomic state variables could providea sufficient statistics for explaining the behaviour of asset prices and returns (e.g. Chen, Roll and Ross [1986]). From the theoretical point of view, the need to ground these factors on sound and parcimonious foundations naturally led to the extension of equilibrium business cycles models to the pricing of financial securities.

International Business Cycles: An Unobserved Components Approach

The debate about what causes economic fluctuations has long been at the center of macroeconomic research. One critical issue is whether the business cycle is wholly transitory, or whether it might be "real" in the sense that it is characterized primarily by permanent rather than transitory movements. This research has generally focused on the US, but there has been some work using international evidence as well (Mills and Wang 2002).

Prostate Orgasm, Prostate Cure

Prostate cancer knows no lines, no boundaries and does not choose favorites. Second only to skin cancer as the leading cancer among men, prostate cancer is a formidable foe. Each year at least 200,000 men are diagnosed with prostate cancer while another 45,000 men die from the disease.

Celtiberians: Problems and Debates

The Celtiberians are undoubtedly the people from ancient Hispania that have attracted the highest level of interest among scholars within the different disciplines (e.g. archaeologists, linguists, and historians). This critical review of the post-1998 literature on the Celtiberians has been divided into nine sections: the meaning of the word "Celtiberians",the Celtiberian language, the formation of the Celtiberian culture, population, Celtiberian migrations, economy, the study of rituals through an examination of ceramics, mortuary rituals, and Celto-mania and the Celtiberians.

Demand Fluctuations and Productivity of Service Industries

Recent studies stress the importance of service industries on a country's economic growth performance. Amid a decreasing labor force due to population aging, productivity growth of industries, especially service industries, is a focus of economic policy in Japan. Recently, the Service Productivity and Innovation for Growth (SPRING) a business-government-academia forum and the Service Engineering Research Center were established to enhance service sector innovation and productivity. However, analysis of productivity in service industries using microdata lags far behind that of the manufacturing industry, for which solid and reliable data are available.

Wage Determination and Employment Fluctuations

Modern economies experience substantial fluctuations in aggregate output and employment. In recessions, employment falls and unemployment rises. In the years immediately after a recession, the labor market is slack—unemployment remains high and the vacancy rate and other measures of employer recruiting effort are abnormally low. Unemployment is determined by the rate at which workers lose jobs and the rate at which the unemployed find jobs. I develop a model of fluctuations embodying both matching and wage frictions.

Risk Dynamics of Housing Market: Cross-sectional Variations, Time Variations and Economic Fluctuations

Time variation in housing price level and its relation to the state of the economy have been well documented at both the national and Metropolitan Statistical Areas (MSAs) levels (see, among others, DiPasquale and Wheaten, 1994; Englund and Ioannides, 1997; Laakso, 2000; Capozza, et al. 2002; and Meese and Wallace, 2003). Comparatively little, however, is known about risk dynamics in the housing market and their links to prevailing economic conditions.

Market Information, Bank Holding Company Risk, and Market Discipline

The prospects of using market information for the identification of risk in banking organizations have become a focus of bank supervision in recent years. This concern has arisen in part because of the rapid growth of large, global banking organizations whose portfolios and global operations have become increasingly complex in scope and increasingly opaque to supervisors and financial markets.

The Celtic Diet

Science and technology have made staggering contributions to our lives over the past five decades, such as medical break-throughs, satellite communications, computers, contact lenses, Kevlar, bankmachines, domestic printers, MRI's, Walkmans, Windows, HD TV, fuel cells, space stations, You Tube... and the list goes on. Yet, some of the things made high tech should have left alone. I'm referring to our agriculture and our food, the basics we need every single day in order to ensure a healthy life.

Natural Prostate Health

Diet is the first chapter as it is the most important aspect generally of good prostate health. In one word we can sum up everything you need to know about diet and your prostate - FAT. Look at the chart on dietary fat intake and prostate cancer; it is almost a 1 to 1 relationship no matter where you go in the world. In the countries like China and Viet Nam that eat as little as 10% vegetable fat calories and almost no animal fats they have as low as one 120th of the prostate cancer rate we do in America. That is less than 1%.

The price of interest rate variance risk and optimal investments in interest rate derivatives

The market for interest rate derivatives has grown rapidly over the last decade. For instance, the notional amount of outstanding over-the-counter interest rate options has increased 691 percent from USD 7.6 trillion in June 1998 to USD 62.1 trillion in June 2008, see BIS (2008). In addition, many standard fixed income securities such as mortgage-backed securities and agency securities imbed interest rate options.

Is the Volatility of the Market Price of Risk due to Intermittent Portfolio Re-balancing?

One of the largest challenges for standard dynamic asset pricing models is to explain the enormous countercylical variation in the risk-return trade-off in asset markets. The standard explanations rely on countercyclical risk aversion and heteroscedasticity in aggregate consumption growth, but these explanations either do not have a strong micro foundat ion or they fall short quantitatively.

Inflation and the Price of Real Assets

The 1970s brought dramatic changes in the size and composition of US household sector wealth. Figure 1 showsthat aggregate household net worth as a fraction of GDP fell by 25% during the 1970s, before recovering again toits late 1960svalue. Figure 2 shows that the aggregate household portfolio sawa 20% shift away from equity and into real estate during the 1970s.

When Do Foreign Banks Finance Domestic Investment? New Evidence on the Importance of Legal and Financial Systems

Although the direction of causality between the development of financial systems and the rate of economic growth has been the subject of debate for more than 100 years with Schumpeter (1911) on one side claiming that banks help identify attractive investment opportunities and Robinson (1952) on the other side claiming that financial systems respond to, but do not foster economic growth recent empirical evidence supports the view that financial systems do, indeed, have a positive impact on economic growth (see Levine, 1997, for a review of the theoretical arguments and empirical evidence).

Do Foreign Investors Care about Labor Market Regulations?

While the existing empirical literature on foreign direct investment (FDI) has examined the effect of various regulatory determinants on investment flows, no attention has been paid to one key aspect of government regulations, namely the flexibility of labor markets, despite the fact that both the anecdotal evidence and the theoretical literature suggest it ought to be important.

Trade Exposure, Fragmentation, and Labor Market Flows

For the last two decades OECD-labor markets have been characterized by considerable disruptions. Some countries experienceda rising gap incompensation between skill groups; others suffered from high and rising unemployment. This experience initiated a debate among researchers as to whether these changes can be traced back to trade or technology. Though some studies do find considerable trade induced labor effects, it turned out to be hard to find evidence in support of the trade hypothesis.

Minimum Wage Effectson Labor Market Outcomes under Search, Matching, and Endogenous Contact Rates

Determining the equilibrium effects of minimum wage changes on labor market outcomes is achallenging modeling and estimation problem; arriving at policy recommendations is a task even more daunting. Faced with the inherent difficulties of modeling equilibrium labor market events given the limited amount of data to which researchers have access, much recent research has been performed outside of an explicit behavioral framework, with researchers pursuing the more limited objective of carefully describing the observed effects of recent minimum wage changes using quasi-experimental methods [see Card and Krueger (1995) fora summary of these studies anda comprehensive, critical survey of most of the previous research done in this area].

The Impact of Trade and Labor Market Regulations on Employment and Wages: Evidence from Developing Countries

Over the last two decades a number of developing countries have moved to liberalize their trade regimes. Proponents of these liberalizations typically argue that one of the chief beneficiaries of greater openness to trade are the workers in these countries. In particular, given abundant supplies of labor trade liberalization encourages producers to reallocate output toward labor-intensive goods. Depending on conditions in labor markets, the resulting increase in the demand for labor translates into some combination of an increase in employment and/or wages.

International Deflation Risks Under Alternative Macroeconomic Policies

Current economic turmoil is raising a growing risk that monetary policy may, for the first time since the Great Depression, have to deal with global deflation. By deflation we mean that current and expected rates of change in the price level, over a horizon of at least a year, are negative. A decline in the headline CPI fora few quarters, resulting for example from a slump in energy prices, under this definition is not deflation, and it does not poseaspecial problem for monetary policy.

Inflation Targeting and Real Exchange Rates in Emerging Markets

Inflation targeting is becoming a standard operating procedure for central banks around the world. By mid 2008, most central banks in the OECD countries and a growing number of developing economies had adopted inflation targeting. There is no international coordination to promote this monetary regime change, and countries do not join an internationally recognized monetary system nor follow common "rules of the game." Adopters of inflation targeting do so primarily because of the framework's perceived success in delivering low and stable inflation.

A New Pathogenical Theory of the Rheumatic Inflammatory Diseases

We propose a new pathogenical point of view in rheumatic complains related to the success we had and we have in preclinical and clinical testes with the PL treatment, antioxidants and intravenous oxygen therapy. The main tissue disorder in rheumatic diseases (generally speaking) is produced by OFR (Oxygen Free Radicals) aggression. All the other biochemical and immunological imbalances are consequences of the OFR aggression. For that we propose Pathogenical Levels (a tool to help our understanding) which are useful in the explanation of that new pathogenical theory: The genetical level; the ill-organic level; the histo-biochemical level and the quantum level.

Rheumatic Heart Disease

Acute rheumatic fever and rheumatic heart disease are thought to result from an autoimmune response, but the exact pathogenesis remains unclear. While rheumatic heart disease was the leading cause of death 100 years ago in people aged 5-20 years in the United States, incidence of this disease has decreased in developed countries, and the mortality rate has dropped to just above 0% since the 1960s. Worldwide, rheumatic heart disease remains a major health problem.

Low Inflation, Deflation, and Policies for Future Price Stability

The main subject of this conference deflationary shocks and their monetary policy responses is an excellent one. There is a huge amount of recent research to build on, and the conference is taking place at a time when policymakers who have confronted the reality of deflation and zero interest rates can bring a wealth of practical experience and market information to bear on the subject. I want to thank the Institute for Monetary and Economic Studies for organizing the conference. I am looking forward to the papers and to the discussion, and to coming back to these issues at the panel session at the end of the conference.

Consumer Credit Counseling: Credit Card Issuers' Perspectives

Almost two years ago, the Payment Cards Center hosted a workshop at which several regional consumer credit counseling services (CCCS) discussed the changes in the credit counseling and debt management industry. Historically, not-for-profit CCCS organizations have taken a holistic approach to helping consumers. They use face-to-face budget counseling and debt management programs (DMPs) to help people regain control of their finances.

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