Differential inhibition of postnatal brain,spinal cord and body growth by a growth hormone antagonist

Background  

Growth hormone (GH) plays an incompletely understood role in the development of the central nervous system (CNS). In this study, we use transgenic mice expressing a growth hormone antagonist (GHA) to explore the role of GH in regulating postnatal brain, spinal cord and body growth into adulthood. The GHA transgene encodes a protein that inhibits the binding of GH to its receptor, specifically antagonizing the trophic effects of endogenous GH.     

Fusion around the barrier for 7Li+12C

Fusion cross-sections for the ⁷Li + ¹²C reaction have been measured at energies above the Coulomb barrier by the direct detection of evaporation residues. The heavy evaporation residues with energies below 3 MeV could not be separated out from the α-particles in the spectrum and hence their contribution was estimated using statistical model calculations. The present work indicates that suppression of fusion cross-sections due to the breakup of ⁷Li may not be significant for ⁷Li + ¹²C reaction at energies around the barrier.     

Molecularly imprinted silica as a selective SPE sorbent for triazine herbicides

A molecularly imprinted organically modified silica was prepared through a simple sol‐gel procedure and evaluated as a specific sorbent for SPE of triazine herbicides. The material proved to be highly selective for the template molecule, atrazine, as well as for other structurally related species such as simazine and propazine. The performance of this material was shown to be comparable with commercial acrylate‐based molecularly imprinted polymers. The molecularly imprinted silica was applied for the determination of trace levels of the target triazine analytes in sugar cane juice (locally called “garapa”).     

Poly(methyloctylsiloxane) immobilized on silica as a sorbent for solid-phase extraction of some pesticides

A laboratory-made sorbent for solid-phase extraction (SPE) was obtained by thermal immobilization of poly(methyloctylsiloxane) (PMOS) onto silica. Cartridges packed with the new sorbent were used for the simultaneous determination of imazethapyr, nicosulfuron, diuron, linuron and chlorimuron-ethyl in water. These pesticides were separated and quantified using high-performance liquid chromatography with diode array detection (HPLC-DAD). The recoveries achieved with the laboratory-made PMOS cartridges were compared with those of some commercially available silica-based and polymer-based cartridges having C18, C8 and NH(2) pendant groups. Method validation using the laboratory-made sorbent was performed for the five pesticides at three fortifications levels (1x, 2x and 10x the limit of quantification of each pesticide). The laboratory-made PMOS cartridge has low cost preparation and showed good recoveries (72-111%) for all pesticides. Repeatability and intermediate precision were lower than 15%. Its performance was similar or even better, in some cases, than those of the commercial cartridges.     

Self-immobilization of poly(methyloctylsiloxane) on high-performance liquid chromatographic silica

Poly(methyloctylsiloxane) (PMOS) was deposited on HPLC silica by a solvent evaporation procedure and this material was then extracted, using a good solvent for the PMOS, after different time periods, to remove unretained liquid polymer. Solvent extraction data reveal changes which occur at ambient temperature as a function of the time interval between particle loading and extraction. The quantity of PMOS remaining on the silica after extraction, as determined by elemental analysis for carbon, is attributed to strongly adsorbed polymer. This phenomenon is termed self-immobilization. Solid-state 29Si NMR spectra indicate the formation of a silicon species with a different chemical shift than the original PMOS. These new signals are attributed to a combination of different adsorbed and chemically bonded groups.     

On the sub-optimality cost of immediate annuitization in DC pension funds

We consider the position of a member of a defined contribution (DC) pension scheme having the possibility of taking programmed withdrawals at retirement. According to this option, she can defer annuitization of her fund to a propitious future time, that can be found to be optimal according to some criteria. This option, that adds remarkable flexibility in the choice of pension benefits, is not available in many countries, where immediate annuitization is compulsory at retirement. In this paper, we address and try to answer the questions: “Is immediate annuitization optimal? If it is not, what is the cost to be paid by the retiree obliged to annuitize at retirement?”. In order to do this, we consider the model by Gerrard et?al. in Quant Finance, (2011) and extend it in two different ways. In the first extension, we prove a theorem that provides necessary and sufficient conditions for immediate annuitization being always optimal. The not surprising result is that compulsory immediate annuitization turns out to be sub-optimal. We then quantify the extent of sub-optimality, by defining the sub-optimality cost as the loss of expected present value of consumption from retirement to death and measuring it in many typical situations. We find that it varies in relative terms between 6 and 40%, depending on the risk aversion of the member. In the second extension, we make extensive numerical investigations of the model and seek the optimal annuitization time. We find that the optimal annuitization time depends on personal factors such as the retiree’s risk aversion and her subjective perception of remaining lifetime. It also depends on the financial market, via the Sharpe ratio of the risky asset. Optimal annuitization should occur a few years after retirement with high risk aversion, low Sharpe ratio and/or short remaining lifetime, and many years after retirement with low risk aversion, high Sharpe ratio and/or long remaining lifetime. This paper supports the availability of programmed withdrawals as an option to retirees of DC pension schemes, by giving insight into the extent of loss in wealth suffered by a retiree who cannot choose programmed withdrawals, but is obliged to annuitize immediately on retirement.     

Delta–Gamma hedging of mortality and interest rate risk

One of the major concerns of life insurers and pension funds is the increasing longevity of their beneficiaries. This paper studies the hedging problem of annuity cash flows when mortality and interest rates are stochastic. We first propose a Delta–Gamma hedging technique for mortality risk. The risk factor against which to hedge is the difference between the actual mortality intensity in the future and its “forecast” today, the forward intensity. We specialize the hedging technique first to the case in which mortality intensities are affine, then to Ornstein–Uhlenbeck and Feller processes, providing actuarial justifications for this selection. We show that, without imposing no arbitrage, we can get equivalent probability measures under which the HJM condition for no arbitrage is satisfied. Last, we extend our results to the presence of both interest rate and mortality risk. We provide a UK calibrated example of Delta–Gamma hedging of both mortality and interest rate risk.     

Modelling stochastic mortality for dependent lives

Stochastic mortality, i.e. modelling death arrival via a jump process with stochastic intensity, is gaining an increasing reputation as a way to represent mortality risk. This paper is a first attempt to model the mortality risk of couples of individuals, according to the stochastic intensity approach. Dependence between the survival times of the members of a couple is captured by an Archimedean copula.We also provide a methodology for fitting the joint survival function by working separately on the (analytical) marginals and on the (analytical) copula. First, we provide a sample-based calibration for the intensity, using a time-homogeneous, non mean-reverting, affine process: this gives the marginal survival functions. Then we calibrate and select the best fit copula according to the Wang and Wells [Wang, W., Wells, M.T., 2000b. Model selection and semiparametric inference for bivariate failure-time data. J. Amer. Statis. Assoc. 95, 62-72] methodology for censored data. By coupling the calibrated marginals with the best fit copula, we obtain a joint survival function, which incorporates the stochastic nature of mortality improvements.We apply the methodology to a well known insurance data set, using a sample generation. The best fit copula turns out to be one listed in [Nelsen, R.B., 2006. An Introduction to Copulas, Second ed. In: Springer Series], which implies not only positive dependence, but dependence increasing with age.