Suchergebnisse

We assess the role played by fiscal policy in explaining the dynamics of asset markets. Using a panel of ten industrialized countries, we show that a positive fiscal shock has a negative impact in both stock and housing prices. However, while stock prices immediately adjust to the shock and the effect of fiscal policy is temporary, housing prices gradually and persistently fall. Consequently, the attempts of fiscal policy to mitigate stock price developments (e.g. via taxes on capital gains) may severely de-stabilize housing markets. The empirical findings also point to significant fiscal multiplier effects in the context of severe housing busts, which gives rise to the importance of the implementation of fiscal stimulus packages. In addition, our results suggest that when governments run a budget deficit, they place an upward pressure on real interest rates, which "crowds-out" private consumption and investment. In contrast, during bust periods, unexpected variation in the fiscal stance crowds-in private spending, which reflects the "direct" and "indirect" effects of policy actions impact arising from a downward movement in real interest rates and an upward revision in price level expectations.

The main objective was to obtain a general impression of the activities of the Peracchi sawmill in the Tailândia region, Pará. This was to assess its potential as a partner in the project 'Sustainable forest management at commercial scale', a cooperative project between Embrapa Amaz6nia Oriental and the Center for International Forestry Research. The study included a general description of the region, the stakeholders involved in the use of forest resources, and a financial analysis of sawmill activities. Students of the Agrar Faculty of Pará gathered the field information during two weeks in October 1998. The study showed, that Tailandia was a typical older frontier region, which depended strongly on the forest sector. After more than 15 years of timber harvesting and industrialisation by more than 50 sawmills, the forest resources near the city decreased significantly. As a result of the high number of legal and illegal land use incentives and the strong fluctuation, the system of forest stakeholders was complex and heterogeneous. The Peracchi sawmill was one of the few producing timber for export markets. The enterprise began a government-approved 12 000 ha forest management project and applied conventional logging techniques which had many ecological, economic and social deficiencies. The settlers near the project were not strongly affected. The exploitation of 32 000 m3 year-1 cost about US$15.4 m-3. Motivated by the expectation of certification, the timber enterprise showed a strong interest in participating in the Embrapa/CIFOR project. However, problems include: lack of responsibility and capacity of the enterprise staff; no strategy to ensure the long-term delivery of timber; insufficient documentation; and the danger of illegal invasion of the project area.

The reconstruction of bone defects based on cell-seeded constructs requires a functional microvasculature that meets the metabolic demands of the engineered tissue. Therefore, strategies that augment neovascularization need to be identified. We propose an in vitro strategy consisting of the simultaneous culture of osteoblasts and endothelial cells on a starch-based scaffold for the formation of pre-vascular structures, with the final aim of accelerating the establishment of a vascular bed in the implanted construct. Human dermal microvascular endothelial cells (HDMECs) were co-cultured with human osteoblasts (hOBs) on a 3D starch-based scaffold and after 21 days of culture HDMEC aligned and organized into microcapillary-like structures. These vascular-like structures evolved from a cord-like configuration to a more complex branched morphology, had a lumen and stained in the perivascular region for type IV collagen. Genetic profiling of 84 osteogenesis-related genes was performed on coculture vs. monoculture. Osteoblasts in co-culture showed a significant up-regulation of type I collagen and immunohistochemistry revealed that the scaffold was filled with a dense matrix stained for type I collagen. In direct contact with HDMEC hOBs secreted higher amounts of VEGF in relation to monoculture and the highest peak in the release profile correlated with the formation of microcapillary-like structures. The heterotypic communication between the two cell types was also assured by direct cell– cell contact as shown by the expression of the gap junction connexin 43. In summary, by making use of heterotypic cellular crosstalk this co-culture system is a strategy to form vascular-like structures in vitro on a 3D scaffold. ; M.I. Santos would like to acknowledge the Portuguese Foundation for Science and Technology (FCT) for her PhD scholarship (SFRH/BD/13428/2003). This work was partially supported by FCT through funds from POCTI and/or FEDER programs and by the European Union funded STREP Project HIPPOCRATES ...

There is an increasing interest in developing novel macromolecular vehicles for the intracellular and controlled delivery of bioactive molecules, since they can allow modulation of the cellular functions in a more effective manner ex vivo, and maintain the cellular phenotype in vivo upon re-implantation. The present study was designed to investigate the effect of combining novel dexamethasone-loaded carboxymethylchitosan/ poly(amidoamine) dendrimer (Dex-loaded CMCht/PAMAM) nanoparticles and, both HA and SPCL scaffolds (3D system) on the proliferation and osteogenic differentiation of rat bone marrow stromal cells (RBMSCs) in vitro. A luminescent cell viability assay using RBMSCs was performed for screening cytotoxicity of the developed HA and SPCL scaffolds. Results corroborated previous ones which have demonstrated in vitro, the superior performance of the HA and SPCL scaffolds on supporting cells adhesion and proliferation. Furthermore, this work showed that RBMSCs seeded onto the surface of both HA and SPCL scaffolds differentiate into osteoblasts when cultured in the presence of 0.01 mg ml!1 Dexloaded CMCht/PAMAM dendrimer nanoparticles. In addition, results demonstrated that Dex-loaded CMCht/PAMAM dendrimer nanoparticles combined with the HA enhance osteogenesis by increasing ALP activity and mineralization of the extra-cellular matrix. The pre-incubation of stem cells with these kinds of nanoparticles allows the delivery of Dex inside the cells and directly influences their cellular fate, being a promising new tool to be used in cells and tissue engineering strategies. ; The authors thank the funds provided by Portuguese Foundation for Science and Technology (FCT) through POCTI and FEDER programmes including project ProteoLight (PTDC/FIS/68517/2006). This work was also carried out with the support of the European Union funded STREP Project HIPPOCRATES (NMP3-CF-2003-505758) and European NOE EXPERTISSUES (NMP3-CT-2004-500283). The funding provided by Canon Foundation in Europe is gratefully ...

In this study, we assess the impacts of future climate and land-use in the Beça River (northern Portugal) under different scenarios and how this will translate into the conservation status of the endangered pearl mussel Margaritifera margaritifera (Linnaeus, 1758). This species is currently present in several stretches of the Beça River that still hold adequate ecological conditions. However, the species is threatened by projected declines in precipitation for the 21st century, with implication on the river flows and water depths that might decrease below the species requisites. This situation could be especially critical during summer conditions since the ecological flows may not be assured and several river stretches may be converted into stagnant isolated pools. The habitat connectivity will also be affected with reverberating effects on the mobility of Salmo trutta, the host of M. margaritifera, with consequences in the reproduction and recruitment of pearl mussels. In addition, human-related threats mostly associated with the presence of dams and an predicted increases in wildfires in the future. While the presence of dams may decrease even further the connectivity and river flow, with wildfires the major threat will be related to the wash out of burned areas during storms, eventually causing the disappearance of the mussels, especially the juveniles. In view of future climate and land-use change scenarios, conservation strategies are proposed, including the negotiation of ecological flows with the dam promoters, the replanting of riparian vegetation along the water course and the reintroduction of native tree species throughout the catchment. ; As regards the corresponding author, the researchwas funded by the national funds (FCT-Portuguese Foundation for Science and Technology) under the strategic project of the Vila Real Chemistry Research Centre (PEst-OE/QUI/UI0616/2014). As regards the authors integrated in the CITAB centre, the research was supported by the national funds (FCT - Portuguese Foundation for Science and Technology) under the project PEst-OE/AGR/UI4033/2014. The research was also supported by the European Union Funds (FEDER/COMPETE-Operational Competitiveness Programme) under the project CONBI-PTDC/AACAMB/117688/ 2010. ; info:eu-repo/semantics/publishedVersion

A significant shift has taken place in global forest tenure, with a doubling of the forest area under community ownership (or administration over the past 15 years). There is every indication that communal tenure will double again over the next 15 years. Recognition of traditional and indigenous peoples' collective rights over forest lands has important implications for forest-rich countries—both developed and developing. Combined with dramatic changes in the structure of the forest industry and globalizing markets, this shift creates new opportunities and challenges for low-income forest producers and community enterprises to leave poverty and diversify livelihoods. The challenge for policy makers and governments is to reform outdated regulatory and incentive frameworks to support these enterprises. This article presents findings on three types of responses from communities to the new opportunities created by the tenure shift and looks specifically at community timber enterprise cases from Mexico and Brazil; recommending actions by communities, policy makers, and private sector. Changes in international and domestic forest product demand, consolidation of commodity wood sectors, new corporate responsibility commitments, and the emergence of ecosystem service markets all affect community markets. One response has been the emergence of socially-integrated, timber and non-timber based enterprises. Another has been the expansion of self-financed community conservation. A third response has been new models of collaboration between companies and communities.

Atlantic cod is processed industrially for food purposes, with several by-products being directed to animal feed and other ends. Looking particularly into swim bladders, the extraction of collagen can be a valuable strategy for by-product valorization, explored in the present work for the first time. Collagen was extracted using acetic acid (ASCsb) and pepsin (PSCsb) with yields of 5.72% (w/w) and 11.14% (w/w), respectively. SDS-PAGE profile showed that the extracts were compatible with type I collagen. FTIR, CD and XRD results suggest that the PSCsb structure underwent partial denaturation, with microDSC showing a band at 54 ºC probably corresponding to a melting process, while ASCsb structure remained intact, with preserved triple helix and a denaturation temperature of 29.6 ºC. Amino acid composition indicates that the total content of proline-like amino acids was 148/1000 residues for ASCsb and 141/1000 residues for PSCsb, with a hydroxylation degree of about 37%. The extracts exhibited a typical shear thinning behavior, interesting property regarding their further processing toward the development of biomaterials. In this regard, assessment of metabolic activity of human fibroblast cells cultured in the presence of collagen extracts with concentrations up to 3mg/mL revealed the absence of cytotoxic behavior. Collagen extracts obtained from Atlantic cod swim bladders shown attractive properties regarding their use in cosmetic or biomedical applications. ; The authors would like to acknowledge to European Union for the financial support under the scope of European Regional Development Fund (ERDF) through the Structured Project NORTE-01-0145-FEDER-000021 (Norte2020) and under the scope of the European Union Seventh Framework Programme (FP7/2007-2013) through grant agreement ERC-2012-ADG 20120216-321266 (ERC Advanced Grant ComplexiTE). The Portuguese Foundation for Science and Technology is also acknowledged for the PhD grant of A. L. A under Doctoral Programme Do ~ Mar (PD/BD/127995/2016), as well as ...

Novel porous bilayered scaffolds, fully integrating a silk fibroin (SF) layer and a silk-nano calcium phosphate (Silk-NanoCaP) layer for osteochondral defect (OCD) regeneration were developed. Homogeneous porosity distribution was achieved in the scaffolds, with calcium phosphate phase only retained in the Silk-NanoCaP layer. The scaffold presented compressive moduli of 0.4 MPa in wet state. Rabbit bone marrow mesenchymal stromal cells (RBMSCs) were cultured on the scaffolds, and good adhesion and proliferation were observed. The Silk-NanoCaP layer showed a higher alkaline phosphatase level than the silk layer in osteogenic conditions. Subcutaneous implantation in rabbits demonstrated weak inflammation. In a rabbit knee critical size OCD model, the scaffolds firmly integrated into the host tissue. The histological analysis and immunohistochemistry analysis showed that collagen II positive cartilage and glycosaminoglycan regeneration presented in the silk layer, and de novo bone ingrowths and vessel formation were observed in the Silk-NanoCaP layer. These bilayered scaffolds can therefore be promising candidates for OCD regeneration. ; This study was funded by the Portuguese Foundation for Science and Technology (FCT) projects Tissue2Tissue (PTDC/CTM/105703/2008) and OsteoCart (PTDC/CTM-BPC/115977/2009), as well as the European Union's FP7 Programme under grant agreement no REGPOT-CT2012-316331-POLARIS. The authors are grateful to Viviana P. Ribeiro and Teresa Oliveira for the assistance with the immunohistochemical staining. L-P.Y. was awarded a FCT PhD scholarship (SFRH/BD/64717/2009). The FCT distinction attributed to J.M.O. under the Investigator FCT program (IF/00423/2012) is also greatly ...