Deep Recession Research Articles

The role of macroprudential policies under carbon pricing

This paper analyses the effectiveness of macroprudential policy on macro-financial fluctuations when the government enforces carbon pricing to reduce carbon emissions and achieve the net-zero target. A carbon tax policy alone can reduce carbon emissions by 2030, but at the cost of a deep and prolonged recession, with consequential financial instability due to a higher probability of default on entrepreneurs in the brown sector. This result suggests that carbon pricing should be coupled with complementary policies, such as macroprudential policy. In particular, differentiated LTV ratios and differentiated capital requirements that penalize the brown sector in favour of the green sector tend to decrease the probability of default in the green sector and encourage green lending in supporting the transition to a green economy. However, such policies have little contribution in offsetting the negative impact on the macroeconomy. More stringent levels of prudential regulations are needed to reduce the fall in GDP and consumption. More specifically, the “one-for-one” prudential capital requirements on fossil fuel financing can effectively reduce defaults and move to a greener economy.

Post‐COVID inflation dynamics: Higher for longer

AbstractWe implement a novel nonlinear structural model featuring an empirically successful frequency‐dependent and asymmetric Phillips curve; unemployment frequency components interact with three components of core personal consumption expenditures (PCE)—core goods, housing, and core services ex‐housing—and a variable capturing supply shocks. Forecast tests verify accuracy in its unemployment–inflation trade‐offs, crucial for monetary policy. Using this model, we assess the plausibility of the December 2022 Summary of Economic Projections (SEP). By 2025Q4, the SEP projects 2.1% inflation; however, conditional on the SEP unemployment path, we project 2.9%. A fairly deep recession delivers the SEP inflation path, but a simple welfare analysis rejects this outcome.

Alleviating thermal challenges in hydrodynamic bearings: A novel approach through thrust bearing pads with embedded cooling circuitry and deep recess

At high speeds minimization of operating temperature is the critical design objective in hydrodynamic thrust bearings. During the high speed operations of heavy duty machines high temperatures are generated in thrust bearings due to vigorous viscous shearing of lubricant oil film. Under such circumstances thermal effects gain critical importance. Consequences of thermal effects include pad deformation, increased wear, material degradation etc. in hydrodynamic bearings. This research explores a pioneering approach to mitigate thermal challenges by integrating deep recesses and cooling circuitry in thrust bearing pads. The integrated design facilitates enhanced heat dissipation and load carrying capacity along with optimized lubrication process. In this study CFD (CFX) simulation code is used to numerically evaluate the effect of hybrid bearing configuration (conventional thrust pad equipped with deep recess and embedded cooling circuitry) on the performance parameters of thrust bearing. The simulation results confirm an appreciable decrease in maximum pad temperature and thermal pad deformation. The maximum pad temperature decreased from 85℃ to 71℃. Similarly value of thermal pad deformation decreased from 36 µm to 24 µm. The outcomes hold promise for enhancing the thermal performance of existing machinery and inspiring the development of next-generation thrust bearing systems, marking a transformative advancement in the field of mechanical engineering.

Schottky Barrier Gate N-Polar GaN-on-Sapphire Deep Recess HEMT With Record 10.5 dB Linear Gain and 50.2% PAE at 94 GHz

Schottky Barrier Gate N-Polar GaN-on-Sapphire Deep Recess HEMT With Record 10.5 dB Linear Gain and 50.2% PAE at 94 GHz

Economic crises as critical junctures for policy and structural changes towards decarbonization – the cases of Spain and Germany

ABSTRACT Crises may act as tipping points for decarbonization pathways by triggering structural economic change or offering windows of opportunity for policy change. We investigate both types of effects of the global financial and COVID-19 crises on decarbonization in Spain and Germany through a quantitative Kaya-decomposition analysis of CO2 emissions and through a qualitative review of climate and energy policy changes. We show that the global financial crisis resulted in a critical juncture for Spanish CO2 emissions due to the combined effects of the deep economic recession and crisis-induced structural change, resulting in reductions in carbon and energy intensities and shifts in the economic structure. However, the crisis also resulted in a rollback of renewable energy policy, halting progress in the transition to green electricity. The impacts were less pronounced in Germany, where pre-existing decarbonization and policy trends continued after the crisis. Recovery packages had modest effects, primarily due to their temporary nature and the limited share of climate-related spending. The direct short-term impacts of the COVID-19 crisis on CO2 emissions were more substantial in Spain than in Germany. The policy responses in both countries sought to align short-term economic recovery with the long-term climate change goals of decarbonization, but it is too soon to observe their lasting effects. Our findings show that crises can affect structural change and support decarbonization but suggest that such effects depend on pre-existing trends, the severity of the crisis and political manoeuvring during the crisis.

RETRACTED: Left Ventricular Non-Compaction in Children: Aetiology and Diagnostic Criteria

Left ventricular non-compaction (LVNC) is a heterogeneous myocardial disorder characterized by prominent trabeculae protruding into the left ventricular lumen and deep intertrabecular recesses. LVNC can manifest in isolation or alongside other heart muscle diseases. Its occurrence among children is rising due to advancements in imaging techniques. The origins of LVNC are diverse, involving both genetic and acquired forms. The clinical manifestation varies greatly, with some cases presenting no symptoms, while others typically manifesting with heart failure, systemic embolism, and arrhythmias. Diagnosis mainly relies on assessing heart structure using imaging tools like echocardiography and cardiac magnetic resonance. However, the absence of a universally agreed-upon standard and limitations in diagnostic criteria have led to ongoing debates in the scientific community regarding the most reliable methods. Further research is crucial to enhance the diagnosis of LVNC, particularly in early life stages.

Reform of Agriculture in Côte d’Ivoire: Between Diversification and Competition among Crops.

Agriculture is the foundation of the social, economic and political development of Côte d’Ivoire. This agriculture was dominated by speculative crops depending on political orientation and with the aim of bridging national regional disparities until the year 2000. Initially, Ivorian export agriculture was at the center of political attention. It represents one third of GDP, two thirds of export earnings and employs more than two thirds of the active population (World Bank, 1994). However, this growth dynamic was confronted with external shocks from the 1980s. The country’s agricultural economy entered a deep recession. Internal agricultural restructuring reforms were implemented in 1980, slowed by the political-military crisis that hit the country in December 1999. Since then, new rorms have been introduced. However, in their feasibility, they are similar to a kind of diversification of agriculture, highlighting a notion of “duality” according to Chaléard (2003). This paper examines and compares the reforms and explains why and how their implementation was difficult. It then recommends ways to make the reforms more sustainable and effective. The methodology is based on a theoretical framework and data collection (documentary research and Focus Group Discussion with the Directors of services of the Ministry of Agriculture and Rural Development as well as the Chambers of Agriculture of Côte d’Ivoire) and a questionnaire. According to the results obtained. For 64% of farmers, the reforms only concern export crops. Subsistence agriculture remains an unorganized sector in which state reforms remain very weak. We note a disengagement of the State or an absence of communication in favor of subsistence agriculture. Reforms are also underway for the food sector. This requires stakeholder involvement, participatory management and global strategic orientations based on agricultural potential for sustainable agriculture in Côte d’Ivoire.

Demonstration of Normally-Off N-Polar GaN Deep Recess HEMT

Demonstration of Normally-Off N-Polar GaN Deep Recess HEMT

Paleoneurology and neuroanatomical notes on the South American "rauisuchian" Saurosuchus galilei from the Ischigualasto formation, San Juan, Argentina.

Non-crocodylomorph loricatans, traditionally known as "rauisuchians," are considered as the top predators of the Triassic continental faunas that reigned before the emergence of the well-known theropod dinosaurs. In particular, Saurosuchus galilei is a large quadrupedal prestosuchid loricatan found in the Ischigualasto Formation from northwestern Argentina. Here, we reevaluated the braincase of S. galilei and present the first paleoneurological study based on the partial natural casts of the holotype and the digital cranial endocast of the referred specimen PVSJ 32. The braincase of S. galilei was here reinterpreted, identifying the sutures of the supraoccipital, otoccipital, basioccipital, parabasisphenoid, prootic, and laterosphenoid. A unique feature identified in the braincase of S. galilei is the presence of deep paracondylar recesses associated with pharyngotympanic pneumaticity, which has not been identified in any other "rauisuchians" so far. Most of the structures of the encephalon were recognized in the cranial endocast and natural casts including cranial nerves V-XII, olfactory bulbs, main blood vessels and sinuses, and inner ear. These structures allowed us to quantify some of its sensorial capacities and recognize that S. galilei had an enhanced olfactory acuity, with coefficients higher than those expected for its body size, a condition previously observed in living crocodilians and tyrannosaurid dinosaurs. An improved sense of smell might have allowed Saurosuchus to track its prey from long distances and compensate for the poorer development of its other senses like vision and balance.

Myocardial Mechanics and Associated Valvular and Vascular Abnormalities in Left Ventricular Noncompaction Cardiomyopathy.

Left ventricular (LV) non-compaction (LVNC) is a rare genetic cardiomyopathy due to abnormal intra-uterine arrest of compaction of the myocardial fibers during endomyocardial embryogenesis. Due to the partial or complete absence of LV compaction, the structure of the LV wall shows characteristic abnormalities, including a thin compacted epicardium and a thick non-compacted endocardium with prominent trabeculations and deep intertrabecular recesses. LVNC is frequently associated with chronic heart failure, life-threatening ventricular arrhythmias, and systemic embolic events. According to recent findings, in the presence of LVNC, dysfunctional LV proved to be associated with left atrial volumetric and functional abnormalities and consequential dilated and functionally impaired mitral annulus, partly explaining the higher prevalence of regurgitation. Although the non-compaction process morphologically affects only the LV, signs of remodeling of the right heart were also detected. Moreover, dilation and stiffening of the aorta were present. The aim of the present detailed review was to summarize findings regarding changes in cardiac mechanics, valvular abnormalities, and vascular remodeling detected in patients with LVNC.

What can a cryptogenic stroke hide in a young patient?

Abstract Introduction Left ventricular hypertrabeculation is a recently described ventricular phenotype characterized by the alternation of excessive trabeculations with deep intertrabecular recesses that communicate with the left ventricular cavity but not with the coronary circulation. Case presentation We report the case of a young patient, recently diagnosed with ischemic stroke, in whom the cardiological assessment revealed the coexistence of left ventricular hypertrabeculation and dilated cardiomyopathy, which pathologies associated with a high risk of embolic events. The treatment administered followed the therapy for chronic heart failure, control of rhythm disorders that might occur, and the prevention of embolic accidents. Conclusions The particularity of the case is represented by atypical onset through a complication of the disease in a cardiovascular paucisymptomatic patient. Multimodal imaging corroborated with clinical and anamnestic elements had an essential role in the diagnosis.

Policies Aimed at Combating COVID-19 Pandemic and Economic Crisis in Poland

Abstract Subject and purpose of work The aim of the paper is to present the course of the COVID-19 pandemic in Poland and measures undertaken in order to prevent the spread of the disease and mitigate its results. The specific objective concerns evaluation of anti-crisis measures enacted during the pandemic in Poland. Materials and methods The paper is based on an analysis of official data provided by state institutions and reports on the course of the pandemic in Poland, as well as academic papers on the subject matter in question. The author employed an analytical and descriptive method in order to outline the course and assess the economic and social phenomena occurring during the pandemic. Results The state of the pandemic in Poland was announced on March 2020 and lifted in May 2023. During that period, Poland experienced two major waves of increased infections and excess deaths, which led to significant biological, economic and social damage, as well as major losses. The state has implemented an efficient and quite effective anti-pandemic measures aimed at protecting the lives and health of citizens, as well as anti-crisis policies to counter and limit the adverse effects of the ongoing pandemic in the form of an extensive financial aid in the form of the so-called Anti-Crisis Fund, which was continuously replenished. Conclusions The COVID-19 pandemic in Poland was an unprecedented and unpredictable phenomenon, which resulted in clear threat to the life and health of the population. It also brought upon a danger of an economic recession and social crisis, which could have resulted in deep economic crisis. The anti-pandemic measures introduced by the Polish government, as well as the anti-crisis measures implemented in quick succession, saved the country from a deep crisis and recession. There is a need for further research into the causes, course, as well as the immediate and long-term impacts of the pandemic.

Dynamic capabilities in times of economic crisis. A vision of success in international markets

The aim of this paper is to determine the degree of influence and mediation of dynamic marketing, innovation and learning capabilities on the international performance of companies during economic crises. The analysis is developed through structured surveys of a multisectoral sample of 145 Spanish companies, using a consistent PLS approach (PLSc) for its development. The dynamic approach is developed through a methodology based on a dual time perspective in the firms' response, capturing the variation produced in the data. Dynamic marketing capabilities emerge as the most important variable, both for its direct influence on firm performance, as well as for its mediating power concerning the rest of the dynamic capabilities, which are not directly significant regarding performance. Therefore, we observe a joint effect, both direct and indirect, on dynamic marketing capabilities. The research contributes to the research field by introducing the management of dynamic capabilities and their relationships in an environment scarcely analyzed in this sense, such as that of a deep economic recession, thus helping the development of future theoretical frameworks within the Theory of Dynamic Capabilities and improving business decision-making regarding the reorganization of factors, raising awareness of the need to be oriented toward a culture of dynamic capabilities, as well as toward a correct balance in the management of resources determined by the model's capabilities.

Role and prognostic relevance of cardiac magnetic resonance imaging in the assessment of left ventricular non-compaction cardiomyopathy: review and meta-analysis

Abstract Background Left ventricular non-compaction (LVNC) is a heterogeneous myocardial disorder characterized by prominent myocardial trabeculation with deep inter-trabecular recesses, thin epicardial layer of compacted myocardium and extensive non-compacted inner muscular layer. Although several diagnostic criteria have been proposed, prediction of major adverse cardiovascular and cerebrovascular events (MACCE) still remains challenging in patients with LVNC. Objectives Objectives of our study were to perform systemic review and meta-analysis of published literature evaluating role and prognostic significance of the late gadolinium enhancement (LGE) in cardiac magnetic resonance imaging (CMR) study, its association with MACCE and characteristics of CMR derived feature-tracking (FT) strain analysis in patients with LVNC. Methods The objectives, literature search strategies, inclusion and exclusion criteria, outcome measurements, and methods of statistical analysis were analyzed according to an established protocol of the cochrane collaboration steps and meta-analysis of observational studies in epidemiology recommendations (MOOSE). Case control studies with evaluated prevalence of LGE in LVNC cardiomyopathy patients with and without MACCE and studies comparing FT strain: left ventricular global longitudinal (LV GLS), global circumferential (GCS) and global radial (GRS) strain between patients with and without LVNC has been included in the analysis. Results A total of 936 papers were collected according to our searching criteria, of those 9 studies including 416 LVNC cardiomyopathy patients with MACCE and 673 LVNC patients without MACCE and with evaluated LGE (including three studies with LVNC and heart failure), also 6 studies including 267 LVNC patients and 283 controls with evaluated FT LV GLS, GCS and GRS (measured in four studies) were selected. LGE was more frequently observed in LVNC patients with MACCE as compared to those without MACCE [RR (95 %CI) 2.52 (1.63 to 3.88); p<0.00001] (Fig.1). FT LV GLS was significantly more affected in LVNC patients compared to controls (St. mean difference (95 %CI): 1.40 (0.69 to 2.11); p<0.00001], as well as GCS and GRS (Fig. 2). Conclusions In patients with LVNC evaluated with CMR, LGE shows association with adverse cardiovascular and cerebrovascular events. CMR deformation indices: FT LV GLS, GCS, and GRS are significantly affected in patients with LVNC as compared to controls. This new CMR technique may be a complementary tool for timely detection and differentiation of LVNC cardiomyopathy and to avoid life threatening adverse events.Figure 1Figure 2

Lifestyle and home

Home is a special place where time flows in a very special way. At home, the walls help, and the past never dies. Home is my fortress and a place where I meet my loved ones. Home is both a protective cover facing the outside world and a reflection of the most personal, deep and secret recesses of the soul. In the section devoted to housing, we present the materials of two round tables held with young people in Novosibirsk and Irkutsk. How do representatives of the next generation imagine their home?They will tell us about it. The problem of co-housing was already solved a hundred years ago within the concept of Socialist City (and brought extremely controversial results), but today this theme is returning, while attracting the attention of architects and sociologists on a new digital design platform. Similarly, there is a renewed interest in traditional materials for residential housing, especially, wood. How to teach young architects of the “era of concrete, glass and metal” the skills of designing in wood? This section contains articles devoted to it.

Emergence of an Aware and Assertive Woman: A Study of Marital Relationship in the Novels of Anita Desai

Abstract: This paper deals with the study of marital relationship, one of the most complex, subtle and chameleonic human relationship, in the lives of the protagonists in the novels of Anita Desai. Through the depiction of this relationship, the novelist tries to foray into the deep recesses of her protagonists’ psyche and reveals their strivings to attain a meaningful pattern of life. Through the depiction of varied kind of protagonists, the novelist tries to show that some of her initial protagonists are quite immature, having myopic vision of life, who reflect rigidity in their personality. This extreme rigidity and egoism creates insurmountable hurdles for them in their inter -personal relations as well as adjustment with the flux of life. Various social customs and traditions which demand sacrifice and adjustment for their part are beyond their comprehension at all. The harrowing despair in their marital relations and lack of recognition in the family and society cumulatively thrusts them into circumscribed zones of isolation. On the other hand, some of her characters are made of strong stuff. They are quite mature and tend to face various vicissitudes of life with a mature, flexible and compromising attitude. Since they have a strong desire to achieve an authentic kind of existence and this zeal makes them flexible to evaluate the pattern of life in totality and eventually, they succeed in evolving a new harmonious pattern life at a higher level of maturity and wisdom.

Cross‐border technology investments in recession

AbstractUtilizing industry‐level foreign direct investment (FDI) from 72 source markets to 122 destination markets between 2003 to 2018, we evaluate how cross‐border technology investments respond to economic recessions. We find that FDI embedded with intensive research and development (R&D) drops when the destination market is in a recession and the source market is in a normal state and recovers to the pre‐recession levels when both destination and source markets are in recession. However, there is little evidence that recessions affect cross‐border investments in other aspects of technology measured by the penetration of robots, intellectual property products and information and communications technology (ICT). The response of R&D‐intensive FDI to recessions is particularly pronounced in deep and long recessions, during the propagation stage of recessions and in destination markets with relatively weak institutional protection of intellectual property and rule of law, loose FDI regulation and high financial development. Our findings are limited to advanced markets: there is no evidence that R&D‐intensive FDI from or to emerging markets responds to either destination or source market recessions.

Cardiomyopathy Following Biventricular Noncompaction

Myocardial noncompaction (NC) is usually seen isolated; however, sometimes other congenital heart abnormalities may accompany the myocardial noncompaction. Left ventricular noncompaction (LVNC) is a genetic anomaly where the ventricular wall is replaced by thick ventricular trabeculations with deep intertrabecular recesses held together by a thin compacted layer. The most common site of involvement is the left ventricle, with right ventricular involvement being reported in a few cases. Isolated right ventricular noncompaction (RVNC) is rare yet life-threatening if left untreated. Genetic testing may identify possible mutation of gene. Early diagnosis of NC is very important for disease management. The management of associated other cardiac pathologies simultaneously will help improve the symptoms and prognosis in patients with noncompaction. Here we report a case of 60-year-old male patient presenting with heart failure due to cardiomyopathy with biventricular noncompaction. The case is being presented as an academic interest. Mugda Med Coll J. 2023; 6(1): 44-47

Health and well-being of the Portuguese citizens: impacts of the COVID-19

BackgroundCOVID-19 pandemic placed unprecedented pressure on societies and healthcare systems around the world. Over the last years, measures imposed in almost all countries dealing with the pandemic sent the entire world into an extensive crisis and thus into a deep global recession. Since the outbreak began, many European countries have faced three/four waves of pandemic. Portugal has mainly dealt with three waves (March/April’2020; October/November’2020; January/February’2021), the third being the deadliest one. The purpose of this article is to provide evidence on the impact of the COVID-19 on health-related quality of life (HRQol) and well-being (W-B) of Portuguese citizens. It aims to (i) characterize these outcomes during the COVID-19 pandemic; (ii) compare them to pre-COVID-19 Portuguese population; and (iii) identify the social determinants that may affect these outcomes during the COVID-19 pandemic.MethodsThis study used data from a survey that collected data on HRQoL, W-B, satisfaction with life, economic and labour impacts, access to healthcare, mental and physical health, amongst others. The survey was implemented by telephone to a representative random sample of 1,255 respondents from the general adult Portuguese population, stratified by sex, age group and region. Data was collected during the end of the second national lockdown. For comparison purposes, we have also used two other representative databases from the general Portuguese population: (i) data from before the pandemic (n = 1,006); and (ii) data from a survey conducted during the first lockdown, (n = 904).ResultsLooking at health and access to healthcare, 4% of citizens had their surgeries postponed or cancelled because of COVID-19, more than a quarter had medical appointments or complementary exams postponed or cancelled, with 7% over 65 years old with surgeries cancelled or postponed and 32% medical appointments. COVID-19 pandemic also impacted negatively on the HRQoL of citizens, especially in the first lockdown. Half of the respondents reported feeling nervous, anxious, or on edge, about 45% of citizens felt sad or depressed. Sleeping problems were reported for almost 39% of citizens, and loneliness is reported by 29% of citizens. For about 70–85% of citizens, these feelings were more so than before the pandemic. Citizens with fair/strong economic stability were the most economically affected by the pandemic.ConclusionsWe provided evidence on the impact of COVID-19 on health and W-B of Portuguese citizens. Their health was worse than before the pandemic and the access to healthcare was highly affected.

N-Polar GaN Deep Recess HEMT With Atomic Layer Deposition HfO2 as Gate Insulator

N-Polar GaN Deep Recess HEMT With Atomic Layer Deposition HfO₂ as Gate Insulator