217 research outputs found

    Monetary policy with judgment: forecast targeting

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    “Forecast targeting,” forward-looking monetary policy that uses central-bank judgment to construct optimal policy projections of the target variables and the instrument rate, may perform substantially better than monetary policy that disregards judgment and follows a given instrument rule. This is demonstrated in a few examples for two empirical models of the U.S. economy, one forward looking and one backward looking. A practical finite-horizon approximation is used. Optimal policy projections corresponding to the optimal policy under commitment in a timeless perspective can easily be constructed. The whole projection path of the instrument rate is more important than the current instrument setting. The resulting reduced-form reaction function for the current instrument rate is a very complex function of all inputs in the monetary-policy decision process, including the central bank’s judgment. It cannot be summarized as a simple reaction function such as a Taylor rule. Fortunately, it need not be made explicit. JEL Classification: E42, E52, E58forecasts, inflation targeting, optimal monetary policy

    Nelfinavir

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    The immunological synapse

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    Udgivelsesdato: 2003-nullThe induction of a proper adaptive immune response is dependent on the correct transfer of information between antigen-presenting cells (APCs) and antigen-specific T cells. Defects in information transfer may result in the development of diseases, e.g. immunodeficiencies and autoimmunity. A distinct 3-dimensional supramolecular structure at the T cell/APC interface has been suggested to be involved in the information transfer. Due to its functional analogy to the neuronal synapse, the structure has been termed the "immunological synapse" (IS). Here, we review molecular aspects concerning IS formation, appearance, and cessation. In addition, proposed functions of the IS are discussed. The process of IS formation occurs in a sequential manner, initially causing a remarkable large-scale redistribution of a number of integral membrane and cytosolic proteins. At the T cell/APC interface the structure comprises in its nascent stage a non-random pattern of protein distribution. The protein pattern is regulated during development of the mature IS and is finally organized into concentric rings of co-receptors and adhesive molecules surrounding the T cell antigen receptor (TCR). The relocations of proteins are influenced by passive as well as active mechanisms. Considering the IS as a device enabling cell-cell communication, clarification of its exact function is of huge general as well as therapeutic interest

    Meristematic sculpting in fruit development

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    International audienceThe diversity of shape in life is astounding, and this is particularly vivid when the varied forms observed in our fruit bowls are examined. How some of the tissues of the Arabidopsis fruit are moulded is starting to be understood, revealing how plants may sculpt plant form by modulating the degree of meristematic properties. In this fruit the KNOX I and BLH meristem identity genes promote medial tissue proliferation by maintaining these tissues in a 'quasi-meristematic' fate. The action of these genes is opposed by ASYMMETRIC LEAVES activity that promotes valve formation together with JAGGED/FILAMENTOUS FLOWER and FRUITFULL activities. This is reminiscent of the function of these genes in the shoot apical meristem and in leaf development. In this review, the aim is to present the medial tissues of the Arabidopsis fruit as a modified meristem and extrapolate our knowledge from other plant organs to fruit development
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