Search Results (22)

Since the Great 2008 Recession, central banks around the world have been coping with monetary consequences that highlight structural costs of the economic system and the rise of unconventional monetary measures. This research aims to capture the heterogeneous effects of expansionary balance sheet (Quantitative easing) policy on the real effective exchange rate and current account balance under the different exchange rate regimes in crisis circumstances. The sample is structured of two groups of EU countries differentiated by level of monetary autonomy: EZ members (Austria, Belgium, France, Germany, Netherlands, Italy, and Spain) are represented by countries with the highest level of asset purchases by ECB and emerging monetary autonomous EU economies (Czech, Hungary, Poland, and Romania). Empirical findings are based on the framework of cross-sectional dependent, non-stationary, heterogeneous, dynamic panels using the (Pooled) Mean Group estimator during the 2014Q1–2023Q1 time horizon. Results indicate a positive long-run relationship between the central bank balance sheet assets, the real interest rate, and the real effective exchange rate. A negative long-term relationship with the current account balance is confirmed, suggesting a diminishing external position. While error-correction parameters are significant and heterogeneous, research confirms higher real effective exchange rate reaction for the EZ members with higher adjustment toward worsening competitiveness along with external balance. Full article

Background: The value of maximal oxygen uptake (VO_2MAX) is a key health indicator. Usually, VO_2MAX is determined with cardiopulmonary exercise testing (CPET), which is cumbersome and time-consuming, making it impractical in many testing scenarios. The aim of this study is to validate a novel seismocardiography sensor (Seismofit^®, VentriJect DK, Hellerup, Denmark) for non-exercise estimation of VO_2MAX. Methods: A cohort of 94 healthy subjects (52% females, 48.2 (8.7) years old) were included in this study. All subjects performed an ergometer CPET. Seismofit^® measurements were obtained 10 and 5 min before CPET in resting condition and 5 min after exhaustion. Results: The CPET VO_2MAX was 37.2 (8.6) mL/min/kg, which was not different from the two first Seismofit^® estimates at 37.5 (8.1) mL/min/kg (p = 0.28) and 37.3 (7.8) mL/min/kg (p = 0.66). Post-exercise Seismofit^® was 33.8 (7.1) mL/min/kg (p < 0.001). The correlation between the CPET and the Seismofit^® was r = 0.834 and r = 0.832 for the two first estimates, and the mean average percentage error was 11.4% and 11.2%. Intraclass correlation coefficients between the first and second Seismofit^® measurement was 0.993, indicating excellent test-retest reliability. Conclusion: The novel Seismofit^® VO_2MAX estimate correlates well with CPET VO_2MAX, and the accuracy is acceptable for general health assessment. The repeatability of Seismofit^® estimates obtained at rest was very high. Full article

This study investigates the relationship between the real effective exchange rate (REER) and its volatility with the net inflow of foreign direct investment (FDI) to Canada, placing a novel emphasis on sector-level analysis. The study utilizes time series data from 2007 to 2022 and employs the autoregressive distributed lag (ARDL) approach to assess short-run and long-run relationships between the said variables. The findings reveal significant impacts of changes in REER, its volatility, and GDP on net FDI in the short run, with lasting effects of REER and its volatility, lagged GDP, and trade openness on FDI in the long run. At the sectoral level, FDI inflows in energy and mining, manufacturing, finance, and insurance exhibit significant sensitivity to changes in REER. Simultaneously, the volatility of REER has a significant impact on FDI inflows in manufacturing industries and the finance and insurance sector in the short run. In the long run, REER exerts a significant influence on the net FDI inflows in energy and mining, as well as manufacturing industries. The asymmetry in findings suggests a need for sector-specific attention to retaining and attracting FDI to Canada. Full article

A single photon avalanche diode (SPAD) cell using N-channel extended-drain metal oxide semiconductor (N-EDMOS) is tested for its hot-carrier damage (HCD) resistance. The stressing gate-voltage (V_GS) dependence is compared to hot-hole (HH) injection, positive bias temperature (PBT) instability and off-mode (V_GS = 0). The goal was to check an accurate device lifetime extraction using accelerated DC to AC stressing by applying the quasi-static (QS) lifetime technique. N-EDMOS device is devoted to 3D bonding with CMOS imagers obtained by an optimized process with an effective gate-length L_eff = 0.25 µm and a SiO₂ gate-oxide thickness T_ox = 5 nm. The operating frequency is 10 MHz at maximum supply voltage V_DDmax = 5.5 V. TCAD simulations are used to determine the real voltage and timing configurations for the device in a mixed structure of the SPAD cell. AC device lifetime is obtained using worst-case DC accelerating degradation, which is transferred by QS technique to the AC waveforms applied to N-EDMOS device. This allows us to accurately obtain the AC device lifetime as a function of the delay and load for a fixed pulse shape. It shows the predominance of the high energy hot-carriers involved in the first substrate current peak during transients. Full article

The 2030 Agenda for Sustainable Development recognizes international trade as an engine for inclusive economic growth and poverty reduction, and an important means to achieve the sustainable development goals (SDGs). Given this role, international trade and global trade networks have received preeminent attention in recent times due to the sharp growth in trade volumes and their contributions to poverty reduction and sustainable development over the years. Despite the growth in global trade volumes and the associated benefits, there are worrying concerns about the unprecedented changes in international trade patterns and growing imbalances in trade in recent times. Whereas China’s trade volumes have more than tripled over recent decades and have maintained the largest trade surplus spot ahead of Germany, other major trade surplus countries such as Japan, the USA, etc., have become trade deficit countries with their trade volumes increasing at a much slower pace. In view of the growing changes in international trade patterns and the need to understand the dynamics of the widening global trade imbalances among major trading partners, this paper investigates the factors that determine the export performance of countries. More specifically, the purpose of this paper is to highlight the forces that determine the export performance of countries using an augmented gravity model that includes social networks. The paper provides useful insights into the underlying currents responsible for the changes in international trade patterns. Using data from 51 countries for 41 years, our results indicate that the GDP of both the home country and the partner country affects the home country’s exports positively. Similarly, the real effective exchange rate REER, trade openness OPEN, and dummy variables BORDER, ENGLISH, and EU have produced positive and statistically significant coefficient estimates, and these are in line with our theoretical expectations. Full article

To achieve sustainable economic growth, Saudi Vision 2030’s target is to improve Saudi Arabia’s ranking on the Global Competitiveness Index from 25 in 2015–2016 to within the top 10 by 2030. Saudi Arabia also aims to increase the share of non-oil exports in the non-oil GDP from 16% in 2016 to 50% by 2030. For policymakers to make informed decisions to achieve these goals, they need to understand the driving forces of Saudi Arabia’s competitiveness. To this end, we consider the real effective exchange rate (REER) as a measure of external price competitiveness, as it captures domestic and global price changes. We then examine the REER using a two-stage modeling framework. First, we estimate the REER equation, which allows us to assess the impacts of the determinants and evaluate currency misalignments as a competitiveness indicator. Second, we extend the KAPSARC Global Energy Macroeconometric Model (KGEMM) with the estimated equation, which provides a framework for simulating the competitiveness impacts of the theoretically formulated determinants and other variables relevant to policymakers. The framework also allows us to account for feedback loops. We conduct a policy scenario analysis to quantify the competitiveness effects of the Public Investment Fund’s (PIF) new strategy for 2021–2025. We derive the following policy insights. Authorities may wish to implement initiatives boosting future productivity and, thus, competitiveness, such as PIF investments. Policymakers should be regularly informed about currency misalignment. Government consumption and public investment projects should consider substituting imports with locally produced goods and services. Local content development would also help to diversify the Saudi economy. Finally, attracting more foreign investment and other assets from the rest of the world may lead to technological development and improvement in the economic, financial, and social infrastructure and business environment, all enhancing competitiveness. Full article

In this study, we investigate the validity of the purchasing power parity (PPP) proposition for 34 European and selected global countries. For this purpose, we propose a new unit root test for cross-sectionally dependent heterogeneous panels that allows for gradual structural breaks and symmetric nonlinear adjustment toward the equilibrium level. The alternative hypothesis stationary is obtained by symmetric adjustment due to exponential smooth transition autoregression (ESTAR) around a nonlinear trend. Moreover, we provide small sample properties extensively for the newly proposed test. Hence, this alternative hypothesis has been proven to characterize real exchange rate data (REER) correctly. Thus, the newly proposed tests provide an essential basis for modeling the REER series correctly. Finally, we also derive the approximate asymptotic distribution of the proposed tests using new techniques. Full article

(1) Background: Inflammatory processes in the thoracolumbar fascia (TLF) lead to thickening, compaction, and fibrosis and are thought to contribute to the development of nonspecific low back pain (nLBP). The blood flow (BF) of fascial tissue may play a critical role in this process, as it may promote hypoxia-induced inflammation. The primary objective of the study was to examine the immediate effects of a set of myofascial release (MFR) techniques on the BF of lumbar myofascial tissue. The secondary objectives were to evaluate the influence of TLF morphology (TLFM), physical activity (PA), and body mass index (BMI) on these parameters and their correlations with each other. (2) Methods: This study was a single-blind, randomized, placebo-controlled trial. Thirty pain-free subjects (40.5 ± 14.1 years) were randomly assigned to two groups treated with MFR or a placebo intervention. Correlations between PA, BMI, and TLFM were calculated at baseline. The effects of MFR and TLFM on BF (measured with white light and laser Doppler spectroscopy) were determined. (3) Results: The MFR group had a significant increase in BF after treatment (31.6%) and at follow-up (48.7%) compared with the placebo group. BF was significantly different between disorganized and organized TLFM (p < 0.0001). There were strong correlations between PA (r = −0.648), PA (d = 0.681), BMI (r = −0.798), and TLFM. (4) Conclusions: Impaired blood flow could lead to hypoxia-induced inflammation, possibly resulting in pain and impaired proprioceptive function, thereby likely contributing to the development of nLBP. Fascial restrictions of blood vessels and free nerve endings, which are likely associated with TLFM, could be positively affected by the intervention in this study. Full article

Background: Instrument-assisted soft tissue mobilization (IASTM) is thought to alter fluid dynamics in human soft tissue. The aim of this study was to investigate the influence of IASTM on the thoracolumbar fascia (TLF) on the water content of the lumbar myofascial tissue. Methods: In total, 21 healthy volunteers were treated with IASTM. Before and after the procedure and 5 and 10 min later, lumbar bioimpedance was measured by bioimpedance analysis (BIA) and TLF stiffness was measured by indentometry. Tissue temperature was recorded at the measurement time points using an infrared thermometer. Results: Bioimpedance increased significantly from 58.3 to 60.4 Ω (p < 0.001) at 10-min follow-up after the treatment. Temperature increased significantly from 36.3 to 36.6 °C from 5 to 10 min after treatment (p = 0.029), while lumbar myofascial stiffness did not change significantly (p = 0.84). Conclusions: After the IASTM intervention, there was a significant increase in bioimpedance, which was likely due to a decrease in water content in myofascial lumbar tissue. Further studies in a randomized control trial design are needed to extrapolate the results in healthy subjects to a symptomatic population as well and to confirm the reliability of BIA in myofascial tissue. Full article

Maintaining the health of the musculoskeletal system in movement-associated professions, such as dance teachers, is of great importance for a long-lasting professional practice. The aim of this study was to record work-related musculoskeletal disorders and the causes of these disorders for dance teachers in Germany. Using a retrospective cross-sectional survey, data on the occurrence of work-related musculoskeletal disorders were collected from n = 229 dance teachers (n = 181 women) aged 22 to 77 years using an online questionnaire. In addition, differences between sexes and among dance styles were also analysed. The 12-month prevalence was 60.7% (95% CI: 54.0–67.1%), and on average, there were 2.58 disorders per dance teacher per year (95% CI: 2.17–2.99). Work-related musculoskeletal disorders affected male and female dance teachers equally (φ = 0.11, p = 0.088 resp. r = 0.080, p = 0.228). Disorders were mainly registered in the lumbar spine (14.9%) and ankle (12.5%). The joint structures (29.9%) and the musculature (20.9%) were most frequently affected. Specific movements (18.7%) as well as fatigue and overload (15.2%) were mentioned as the most frequent causes irrespective of dance style. Dance teachers were not significantly differently affected for musculoskeletal disorders than the general working German population. Future studies should consider a prospective evaluation of such disorders and develop prevention strategies with consideration of sex- and dance style-specific circumstances. Full article

The aim of this study was to assess body mass index (BMI) and the prevalence of overweight and obesity at entry and release of service at the German Armed Forces and related associations to service duration. In a cohort study, 85,076 paired BMI data sets (entry and release of service) of German soldiers (5.4% females) between 2010 to 2022 were analyzed retrospectively to assess BMI alterations and the prevalence of overweight (BMI ≥ 25) and obesity (BMI ≥ 30) after service durations of ≤2 years, 2–5 years, or ≥5 years. Between 2010 and 2022, we observed a trend for BMI increases of about 0.5 kg/m² (X² = 27.104, p = 0.007). BMI increases differed significantly (X² = 7622.858, p < 0.001) after ≤2 years (0.0 kg/m²), after 2–5 years (1.1 kg/m²), and after ≥5 years (2.4 kg/m²) and were correlated to service duration (r = 0.34, p < 0.001). The prevalence of overweight increased from 33.0% to 39.5%. Obesity prevalence increased from 3.7% to 6.3%. The switch to obesity was more pronounced for longer service durations. Although secular trends for BMI increases among soldiers were in line with the general population, service duration was related to BMI increases. Especially, the service time depending on pronounced prevalence of obesity should be a matter of debate leading to counteracting measures at the German Armed Forces. Full article

Background: The thoracolumbar fascia (TLF) is thought to play a role in the development of LBP, but it is not yet clear which factor of TLF changes is a cause and which is an effect. Therefore, some studies used the cross-correlation function (CCR) to reveal time-dependent relationships between biomechanical and neuromotor factors. Methods: Ten patients with acute low back pain (aLBP) were matched to healthy controls. Simultaneous recording of surface electromyography (sEMG) of the erector spinae and multifidus muscle (ESM) and dynamic ultrasound (US) images of TLF deformation were performed during trunk extension. CCR functions and Granger causality (GC) were used to describe the relationship between the two measures. Results: CCR time lags were significant higher in the aLBP group (p = 0.04). GC showed a direct effect of TLF deformation on ESM activation only in the aLBP group (p < 0.03). Conclusions: The results suggest that in aLBP, ESM activity is significantly affected by TLF, whereas this relationship is completely random in healthy subjects studied with CCR and GC comparisons of dynamic US imaging and sEMG data signals. Fascia-related disturbances in neuromotor control, particularly due to altered muscle spindle functions, are suspected as a possible mechanism behind this. Full article

In 2020, as part of the COVID-19 pandemic, governments around the world enacted a wide variety of regulations and laws to contain the incidence of infection. One of these measures was the relocation of work to the home office. The objective of this review was to analyze the influence of the home office in correlation with regulations on sedentary and activity behavior. A search was conducted on various electronic databases from November 2019 to January 2022, using the search terms physical activity (PA), COVID-19, and working from home. The primary outcomes were changes in PA and sedentary behavior (SB). Secondary outcomes included pain, mood, and parenting stress. The risk of bias was assessed using the (NHLBI) Quality Assessment Tool. For the review, 21 articles met the inclusion criteria (total n = 1268). There was a significant increase in SB (+16%) and a decrease in PA (−17%), Light PA (−26%), and moderate to vigorous PA (−20%). There was also an increase in pain and parenting stress and a decrease in well-being. Due to our significant results, programs that promote movement should be created. Future studies should explore how an increase of PA and a reduction of SB in the home office could be achieved. Full article

Heart rate variability (HRV) is frequently applied in sport-specific settings. The rising use of freely accessible applications for its recording requires validation processes to ensure accurate data. It is the aim of this study to compare the HRV data obtained by the Polar H10 sensor chest strap device and an electrocardiogram (ECG) with the focus on RR intervals and short-term scaling exponent alpha 1 of Detrended Fluctuation Analysis (DFA a1) as non-linear metric of HRV analysis. A group of 25 participants performed an exhaustive cycling ramp with measurements of HRV with both recording systems. Average time between heartbeats (RR), heart rate (HR) and DFA a1 were recorded before (PRE), during, and after (POST) the exercise test. High correlations were found for the resting conditions (PRE: r = 0.95, r_c = 0.95, ICC_3,1 = 0.95, POST: r = 0.86, r_c = 0.84, ICC_3,1 = 0.85) and for the incremental exercise (r > 0.93, r_c > 0.93, ICC_3,1 > 0.93). While PRE and POST comparisons revealed no differences, significant bias could be found during the exercise test for all variables (p < 0.001). For RR and HR, bias and limits of agreement (LoA) in the Bland–Altman analysis were minimal (RR: bias of 0.7 to 0.4 ms with LoA of 4.3 to −2.8 ms during low intensity and 1.3 to −0.5 ms during high intensity, HR: bias of −0.1 to −0.2 ms with LoA of 0.3 to −0.5 ms during low intensity and 0.4 to −0.7 ms during high intensity). DFA a1 showed wider bias and LoAs (bias of 0.9 to 8.6% with LoA of 11.6 to −9.9% during low intensity and 58.1 to −40.9% during high intensity). Linear HRV measurements derived from the Polar H10 chest strap device show strong agreement and small bias compared with ECG recordings and can be recommended for practitioners. However, with respect to DFA a1, values in the uncorrelated range and during higher exercise intensities tend to elicit higher bias and wider LoA. Full article

This study analyzes the impact of mobility, as a proxy for social distancing measures, on exports to the United States of America (USA). A mobility index based on Google mobility indicators was constructed using Principal Component Analysis (PCA), and an Accelerated Failure Time (AFT) model was fitted to the data on export survival from a group of Latin American countries (LATAM). Higher mobility levels are associated with an acceleration of the risk of interruption of exports. On average, LATAM shows higher export survival levels compared to other countries. Higher innovation and market concentration favored export survival, while higher levels of Real Effective Exchange Rate (REER) are associated with a lower probability of survival. Differences in survival were found between export sectors with regard to machinery and transportation equipment. Full article