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"MIDAS"
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King Midas : the golden touch
A king finds himself bitterly regretting the consequences of his wish that everything he touches would turn to gold.
Book
Determinants of the Long-Term Correlation between Crude Oil and Stock Markets
This study employed a dynamic conditional correlation–mixed-data sampling (DCC–MIDAS) approach and panel data analysis to examine the factors that influence the long-term correlation between crude oil and stock markets. Our study shows that there is a positive long-term conditional correlation between oil prices and stock markets, except during the 2008 global financial crisis and the 2011 European debt crisis. We also found that macroeconomic factors have a significant impact on this correlation. Specifically, risk-free rate has a positive effect, whereas economic activity and credit risk has a negative effect. Our results provide useful information for investors and monetary authorities.
Journal Article
Inflation and Uncertainty: Evidence from GARCH-MIDAS-in-Mean Modelling
We revisit the relationship between inflation and inflation uncertainty using a novel GARCH-MIDAS-in-Mean approach, which allows for the decomposition of inflation uncertainty into short-term and time-varying long-term components. We test our model on UK data. Our findings indicate that macroeconomic and financial variables significantly influence the long-term component of inflation uncertainty. By enabling long-term uncertainty to vary over time through MIDAS filtering, we show that the evidence for past inflation raising short-run uncertainty weakens compared to results that assume a constant long-term inflation uncertainty component. However, our results support the Cukierman–Meltzer hypothesis, indicating that the impact of inflation uncertainty on inflation becomes more robust and pronounced when longer samples are used, although this effect is sensitive to structural breaks, such as the VAT cut and the Covid-19 pandemic. Additionally, we find no evidence that changes in inflation feed back into short-run uncertainty.
Journal Article
A touch of gold
\"From author Annie Sullivan comes A Touch of Gold, the story of the daughter of King Midas. Ten years after she was turned to gold by her father's greed, Kora must face her own curse as she sets out to save her kingdom\"-- Provided by publisher.
BOOK
OIL PRICES-GROWTH NEXUS IN ALGERIA USING THE MEDAS MODEL
Objective: This Article aims to investigate the impact of oil price fluctuations on economic growth in Algeria using the Mixed Data Sampling (MIDAS) model during the period 1990-2022 Theoretical Framework: The theoretical aspect addressed the different time-frequency models by defining the Midas models and addressing the weighting functions used in estimating these models. Method: Estimating the relationship between a high-frequency variable (oil price) and a low-frequency variable (economic growth rate GDP) using the MIDAS model using Almon's PDL Weighting Function. Results and Discussion: The results of the study concluded economic growth in Algeria is directly affected by oil prices, The study also found that MIDAS models have a great predictive ability, allowing researchers to utilize all available information for high-frequency variables, instead of using annual average values that lose a lot of information. avoid converting low-frequency variables to match high-frequency variables, reducing econometric issues in model diagnostics. Research Implications: Research Implications: It is suggested that rentier countries such as Algeria work to diversify their economy away from oil, and follow up the process of economic diversification and accelerate it during periods of high fuel prices by working to develop non-strategic sectors as agriculture, tourism and manufacturing industries. Originality/Value: These results are expected to benefit policymakers in government, by urging them to invest in renewable energies as a crucial strategy for achieving sustainable development and a key factor in mitigating oil price shocks, particularly during recent recurring global crises. Future research directions include exploring existing gaps and promoting standardized studies.
Journal Article
Regulation of integrin affinity on cell surfaces
Lymphocyte activation triggers adhesiveness of lymphocyte function‐associated antigen‐1 (LFA‐1; integrin α
L
β
2
) for intercellular adhesion molecules (ICAMs) on endothelia or antigen‐presenting cells. Whether the activation signal, after transmission through multiple domains to the ligand‐binding αI domain, results in affinity changes for ligand has been hotly debated. Here, we present the first comprehensive measurements of LFA‐1 affinities on T lymphocytes for ICAM‐1 under a broad array of activating conditions. Only a modest increase in affinity for soluble ligand was detected after activation by chemokine or T‐cell receptor ligation, conditions that primed LFA‐1 and robustly induced lymphocyte adhesion to ICAM‐1 substrates. By stabilizing well‐defined LFA‐1 conformations by Fab, we demonstrate the absolute requirement of the open LFA‐1 headpiece for adhesiveness and high affinity. Interaction of primed LFA‐1 with immobilized but not soluble ICAM‐1 triggers energy‐dependent affinity maturation of LFA‐1 to an adhesive, high affinity state. Our results lend support to the traction or translational motion dependence of integrin activation.
It has been proposed that integrin activation involves the generation of traction by binding to immobilized extracellular matrix and coupling to the actin cytoskeleton. Direct evidence, however, is lacking. Here, comparison of integrin affinity for soluble versus immobilized ligands supports this traction model.
Journal Article
Heavy rainfall induced colony fission and nest relocation in nocturnal bull ants (Myrmecia midas)
In recent years the bull ant
Myrmecia midas
Clark, 1951, has attracted attention for its impressive visual navigation during its nocturnal activity. Still, a basic understanding of this species’ ecology is lacking. Nest relocation and colony fissions are rarely observed and largely undocumented in
M. midas
colonies. In the current study, we quantified the nest-relocation and colony-splitting behaviour of suburban populations of
M. midas
in response to flooding in its habitat, caused by record rainfalls in eastern Australia in 2022. The flooding caused the destruction of nest chambers and disrupted colony activities. We documented nine relocations of the fifty observed colonies with another four split into 12 different colonies. Most relocations occurred a few days after one period of especially heavy rains. We collected several characteristics of these relocations: the distance of a nest from the nearest tree, the elevation of the nest above ground level and the diameter of the nest entrance, with all of these metrics predicting whether a colony moved after heavy rains. Moreover, we conducted excavations of some abandoned colonies, uncovering evidence of an internal collapse of nest chambers due to heavy flooding, which likely induced the nest relocation and colony fission in
M. midas
. In normal weather, we have not observed any colony relocating, suggesting that moving may bear a fitness cost.
Journal Article
Effect of repetition of vertical and horizontal routes on navigation performance in Australian bull ants
Solitarily foraging ant species differ in their reliance on their two primary navigational systems— path integration and visual learning. Despite many species of Australian bull ants spending most of their foraging time on their foraging tree, little is known about the use of these systems while climbing. “Rewinding” displacements are commonly used to understand navigational system usage, and work by introducing a mismatch between these navigational systems, by displacing foragers after they have run-down their path integration vector. We used rewinding to test the role of path integration on the arboreal and terrestrial navigation of
M. midas
. We rewound foragers along either the vertical portion, the ground surface portion, or across both portions of their homing trip. Since rewinding involves repeatedly capturing and releasing foragers, we included a nondisplacement, capture-and-release control, in which the path integration vector is unchanged. We found that rewound foragers do not seem to accumulate path integration vector, although a limited effect of vertical rewinding was found, suggesting a potential higher sensitivity while descending the foraging tree. However, the decrease in navigational efficiency due to capture was larger than the vertical rewinding effect, which along with the negative impact of the vertical surface, and an interaction between capture and rewinding, may suggest aversion rather than path integration caused the vertical rewinding response. Together these results add to the evidence that
M. midas
makes minimal use of path integration while foraging, and the growing evidence that they are capable of quickly learning from aversive stimulus.
Journal Article
Convergent character displacement in sympatric tamarin calls (Saguinus spp.)
Character displacement, or a shift in traits where species co-occur, is one of the most common ecological patterns to result from interactions between closely related species. Usually, character displacement is associated to divergence in traits, though, they might be convergent, especially when used for aggressive interference between species. In the context of animal communication, territorial calls are predicted to converge in order to increase context recognition and decrease the costs of ecological interference competition. However, such signals might also be adapted to characteristics of the shared environment. In this study, we used data from 15 groups of two parapatric tamarins, Saguinus midas and S. bicolor, to test for similarities in long calls among sympatric and allopatric groups. We hypothesized that calls would converge in sympatric areas, as it would be mutually beneficial if both species recognize territorial contexts, but that convergence would depend on forest type due to acoustic adaptation. As predicted, long calls converged in sympatry, with S. midas shifting its calls towards S. bicolor’s acoustic pattern. However, this shift only occurred in primary forest. In sympatric areas, S. midas produced sounds with narrower bandwidths in primary than in secondary forest, consistent with optimization of sound propagation while both species produced longer calls in primary forests independently of geographic location (i.e. sympatry and allopatry). Our results suggest that both social and environmental pressures are important in shaping tamarin sounds. As their effects can interact, analyses, which assume that these ecological pressures act independently, are likely to miss important patterns.
Journal Article