Using final March numbers: Figure 1: Bordo-Siklos measure of central bank credibility Assumes 2.45% CPI inflation is consistent with 2% PCE deflator inflation NBER defined peak-to-trough recession dates shaded gray Clearbridge Investments LLC Sells 56,974 Shares of ConocoPhillips (NYSE:COP) Austin health insurance sees permanent changes as post-pandemic care evolves and money- making insights straight into your inbox Helping clients determine when and how to best claim benefits is valuable Most Guaranteed Lifetime Income Benefits are fully guaranteed others not so much; does your client understand what they have Make sure you are THE ONE in your territory who can answer common consumer questions [free guide] American Equity offers competitive commissions [Check out our FREE VIDEO on why you should have E&O.] Learn this and much more from the Society of FSP's FREE 2014 Advisor Success Kit Figure 1: Bordo-Siklos measure of central bank credibility Siklos (hydroxyurea) is now approved in the U.S. to reduce the frequency of painful crises and lower the need for blood transfusions in adults with sickle cell anemia, the most common and usually the most severe form of sickle cell disease The medication already was approved for the same indications in children ages 2 and older An oral medicine, Siklos is available as 100 mg scored tablets and triple-scored 1,000 mg tablets, designed so they can be cut into smaller pieces. This allows for more flexible dosing, according to Medunik USA “Besides being a new treatment option for adults Siklos has the advantage of being the only formulation of hydroxyurea available in breakable tablet form that can be dissolved in a small amount of water for those who have difficulty swallowing pills or capsules,” Smith said “Medunik USA is very proud to expand the availability of Siklos as a new treatment option for adults with sickle cell anemia as part of our commitment to help Americans suffering from rare diseases They deserve to have effective treatment options as much as those with more common conditions,” said Tanya Carro Sickle cell is caused by mutations that impact the production of hemoglobin the protein that red blood cells use to carry oxygen through the body The active agent in Siklos, hydroxyurea is thought to work by promoting an alternate version of the protein fetal hemoglobin to be produced to compensate for the defective protein fetal hemoglobin usually is produced only in early development and stops being made within a few months after birth The approval of the therapy in adults was supported by data from a Phase 4 observational trial called ESCORT-HU (NCT02516579) which evaluated the safety of Siklos in more than 1,000 adults with sickle cell disease Results indicated that a year of treatment with Siklos reduced the frequency of hospitalizations, blood transfusions, and vaso-occlusive crises lasting longer than two days No new safety issues were noted in the trial There were 125 pregnancies in more than 100 women during the study with no malformations in the babies reported The most common side effects of Siklos include infections and infections and low white blood cell counts in children The medication carries a boxed warning that it can severely lower blood cell levels and increase the risk of cancer Patients are encouraged to read the safety information included in the packaging This site is strictly a news and information website about the disease This content is not intended to be a substitute for professional medical advice Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition Never disregard professional medical advice or delay in seeking it because of something you have read on this website Siklos® is an orally administered tablet form of hydroxyurea that is indicated for the treatment of sickle-cell anaemia in paediatric patients aged two years and older The drug was discovered and developed by ADDMEDICA The firm submitted a new drug application (NDA) for Siklos® to the US Food and Drug Administration (FDA) in July 2016 Siklos® was approved in December 2017 and is expected to be launched in the market in the next few months Siklos® received marketing authorisation (MA) approval in Europe in 2007 and the drug has also received orphan medicinal product designation in the EU ADDMEDICA has partnered with Medunik USA to market Siklos® in the US Sickle-cell disease (SCD) is a genetic disease affecting red blood cells (RBC) Also known as sickle-cell anaemia (SCA) or drepanocytosis this rare hereditary blood disorder is caused by a genetic mutation in the beta-chain of haemoglobin which results in the formation of abnormal haemoglobin molecules called haemoglobin S (haemoglobin sickle) The molecules can distort the red blood cells into stiff and sickle-shaped cells Two other common forms of SCD are Haemoglobin SCD and haemoglobin Sβ thalassemia The disease can lead to painful swelling of the hands and feet although the symptoms vary from person to person especially in case of acute chest syndrome The hydroxyurea in Siklos® prevents deoxy-ribonucleic acid (DNA) synthesis through the inhibition of the ribonucleotide reductase enzyme The drug also increases the concentration of foetal haemoglobin (HbF) and water content in red blood cells The drug is available in film-coated tablet form in 100mg and 1,000mg doses The US FDA approved Siklos® based on results obtained from an open-label single-arm trial named European sickle cell disease cohort study Hydroxyurea (ESCORT-HU) The study enrolled 405 paediatric sickle cell disease patients aged between two and 18 years 141 patients had not been treated previously with hydroxyurea The randomised patients had at least 12 months follow-up of the treatment The study results demonstrated that patients administered with Siklos® had an increase in HbF levels The most common adverse reactions found in more than 10% of patients during the clinical studies were infections and neutropenia gastrointestinal problems and reduction in the count of red blood cells ADDMEDICA is a medical company specialising in the discovery of innovative medicines for unmet medical needs ADDMEDICA’s product line includes investigational drugs in the therapeutic areas of haematology and wound healing The company’s product line includes LUMIDERM® 6000 and LIQUIBAND® for wound healing and repairs The company also markets and distributes medical devices in the domain of organ grafts and lung transplantation Give your business an edge with our leading industry insights View all newsletters from across the GlobalData Media network who has died aged 69 after suffering from cancer did more than anyone to make the Cambridge entrance examination in mathematics accessible to students whatever their school background In 1987 he played a central role in setting up Step, the Sixth Term Examination Paper that mathematical applicants to Cambridge Warwick and some other universities must sit His book Advanced Problems in Mathematics (2016), which is available as a free internet download aims to equip Step candidates even if their school cannot and Stephen’s customary dry wit and attention to detail the text gives careful guidance on how to set about solving problems some of which at first sight might look impossible Born in Epsom, Surrey, Stephen was the son of Theo Siklos, the first principal of Crawley College of Further Education, and his wife, Ruth (nee Purser), an almoner. From Collyer’s school, Horsham, West Sussex, Stephen went on to study maths at Pembroke College, Cambridge, before doing research in Einstein’s theory of general relativity under Stephen Hawking Invariants and Cosmology (1976) would lead to the study of what are now known as Siklos invariants The dissertation so impressed his examiners that each of them hired him as a post-doc first at Oxford and then at Queen Mary College London (now Queen Mary University of London) After his post-doc years Stephen spent the rest of his life in Cambridge From 1980 to 1999 he was a college lecturer at Newnham and held a lectureship in the mathematics and theoretical physics department It was during this time that he began work on Step His excellent teaching was recognised by the award of a Pilkington prize in 1999 In that year he became a fellow of Jesus College serving as director of studies and later as senior tutor when he had oversight of all students in the college He cared deeply about their welfare and was genuinely delighted by their success; they greatly appreciated his kindly advice and encouragement achieving maximum effect with minimum fuss His sense of humour and the sparkle in his eyes when he smiled won him everyone’s devotion Three extracurricular activities sustained Stephen throughout his life: music characteristically diffident about his own prowess continued to have tennis coaching and viola lessons until his retirement from his first marriage to Catherine Marshall Siklos® (hydroxyurea; Medunik) is now available in a 100mg scored tablet in addition to the 1000mg triple-scored tablets Siklos is indicated to reduce the frequency of painful crises and to reduce the need for blood transfusions in pediatric patients aged 2 years and older with sickle cell anemia with recurrent moderate to severe painful crises.  The scored tablets help further optimize dosing in patients with sickle cell anemia The 100mg tablets have 1 score line and can be split into 2 parts (each 50mg) while the 1000mg tablets have 3 score lines and can be split into 4 parts (each 250mg) For patients who are unable to swallow the tablets Siklos can be dispersed immediately before use in a small quantity of water in a teaspoon caregivers are advised to wear disposable gloves when handling tablets or bottles containing the drug “With the newly available Siklos 100mg scored tablets dose adjustments can now be made in 50mg increments,” said Tanya Carro “Coupled with Siklos 1000mg triple-scored tablets (4 x 250mg) this will offer more accurate dose adjustments and may make it more convenient than compounded hydroxyurea.” For more information visit siklosusa.com a trusted source of medical news and feature content for healthcare providers offers clinicians insight into the latest research to inform clinical practice and improve patient outcomes Copyright © 2025 Haymarket Media, Inc. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media’s Privacy Policy and Terms & Conditions. Only subscribers can update their account from this page You’ve read {{metering-count}} of {{metering-total}} articles this month We want you to take advantage of everything MPR has to offer Register now at no charge to access unlimited daily drug news and industry-supported drug information & education Please login or register first to view this content ROSEMONT, PA, Nov. 19, 2018 /PRNewswire/ - Medunik USA a company dedicated to improving the health and quality of life of Americans with rare diseases by making orphan drugs available in the U.S. is proud to announce today that Siklos® (hydroxyurea) is now available in 1,000 mg triple-scored tablets to help optimize dosing Siklos® is the first and only FDA-approved hydroxyurea-based treatment indicated to reduce the frequency of painful crises and to reduce the need for blood transfusions in pediatric patients two years of age and older with sickle cell anemia with recurrent moderate to severe painful crises.1 Siklos has a  boxed warning please see important safety information below.  The importance of optimal dosing of hydroxyurea in sickle cell anemia (SCA) patients based on patient body weight and biological and clinical response has been well established.2,3 This is particularly relevant in pediatric populations where patient weight is constantly changing "Medunik is proud to offer pediatric SCA patients a new option that helps optimize daily dosing Given that the new triple-scored Siklos® 1,000 mg tablets can be divided into four equal parts of 250 mg each it is now possible to adjust dosing in increments as small as 50 mg (starting at a 200 mg dose)," affirmed Dany Hallé Medunik is committed to providing Siklos® at the lowest possible cost to all patients That is why the company continues to partner with ProCare Pharmacy Care to offer cost savings and free home delivery through the Siklos At Home™ program For more information about prescribing Siklos® tablets, which are dissolvable in water for patients who are unable to swallow tablets whole, please visit siklosusa.com WHAT IS THE MOST IMPORTANT INFORMATION YOU SHOULD KNOW ABOUT SIKLOS® including skin ulcers (including leg ulcers) and enlarged red blood cells (macrocytosis) The most common side effects of Siklos® include: infections These are not all the possible side effects of Siklos® For more information about Siklos®, we invite you to contact our Medical Information Service at 1 844-884-5520 or https://www.medunikusa.com/en/medical-information-service Using 5 year ahead inflation expectations from the Michigan survey Figure 1: Bordo-Siklos measure of Inflation Credibility (blue) Higher values indicate less credibility; assumes CPI target consistent with 2% PCE deflator target is 2.45% Light orange highlight indicates Trump Administrations Source: Michigan Survey and author’s calculations In a previous post I used the NY Fed’s measure to calculate the Bordo-Siklos index; at the moment only the January observation is available for that dataset here’s the 75 percentile expectation Figure 2: 75%ile of expected 5 year inflation minus 2.45% (blue) When it comes to the thinking of the general public Fed credibility is probably not a big deal for the formation of inflation expectations Market participants and economists track the Fed Inflation expectations are largely a reflection of past inflation it’s probably a vague sort of confidence in outcomes That’s why Republicans and Democrats see the inflatio outlook so differently We’ve had a long period of low inflation followed by a couple of years of higher inflation We have headlines about the inflationary effects of tariffs We have some food prices that have risen substantially have a greater influence on the inflation expectations of the general public than the felon-in-chief’s plans for the Fed That doesn’t mean the rapist-in-chief’s plans don’t matter expansionary fiscal policy and default on Treasury debt* on top of a loss of Fed independence looks like a formula for persistent higher inflation You are a crap flinging baboon… with not a thought in your wee bitty head your allegiance to a convicted felon and sexual assault perpetrator is quite enlightening you could include at least one true statement in your rant you sound a lot like stephen miller when he goes on one of his media rants Siklos (hydroxyurea)  — indicated for the treatment of children 2 and older with sickle cell disease — is now available in 100 mg scored tablets in addition to the 1,000 mg triple-scored tablet form Scored tablets make measuring medicine more flexible giving patients greater control in finding their own optimal dose The “scores” on scored tablets mark where a patient can break them into smaller the medicine was available as 100 mg tablets not designed for splitting and as 1,000 mg tablets that could be split into four parts (250 mg each) meaning that doses were rounded to the nearest 100 mg doses can be calculated to the nearest 50 mg allowing for more accurate weight-based dosing and for smaller dose increments as weight increases This flexibility is particularly useful among pediatric patients Siklos is a once-daily medication used to reduce the frequency of sickle cell crises — also called vaso-occlusive crises (VOC) — and the need for blood transfusions in children with recurrent moderate-to-severe crises These crises can be extremely painful and are considered medical emergencies Siklos is believed to benefit SCD patients through a variety of mechanisms the most important being an increase in fetal hemoglobin levels in the blood which raises the amount of oxygen carried by red blood cells The medication also reduces the number of neutrophils, a type of immune cell that interacts with the sickled red blood cells to clog capillaries Siklos is recommended at an initial daily dose of 20 mg per kg of body weight and may be increased by 5 mg/kg every eight weeks making it easier for patients who have trouble swallowing tablets Medunik USA expects this to help patients not miss their dose of medicine The compound was the first — and so far only — pediatric hydroxyurea product approved in the United States Because it lowers certain blood cell counts Siklos carries the risk of making patients more prone to infection and to certain cancers and comes with a box warning to that effect A healthcare provider should check a patient’s blood cell counts before using Siklos and every two weeks thereafter Siklos is associated with fertility problems in males and females who become pregnant while taking it should consult their physician Siklos (hydroxyurea; Medunik) is now available in 1000mg triple-scored tablets to reduce the frequency of painful crises and need for blood transfusions in patients aged ≥2 years with sickle cell anemia with recurrent moderate to severe painful crises “Given that the new triple-scored Siklos 1000mg tablets can be divided into 4 equal parts of 250mg each it is now possible to adjust dosing in increments as small as 50mg (starting at a 200mg dose),” said Dany Hallé should not be split into smaller parts.[hmicms_related_articles] For more information visit siklosusa.com Agreement 'unlocks' SCD treatment for more patients in Europe AddMedica and Abacus Medicine Pharma Services have partnered to market and distribute the sickle cell disease (SCD) therapy Siklos (hydroxyurea) to patients ages 2 and older across Benelux — the economic region of Belgium the companies agreed that Siklos will be in stock and ready for purchase in the three neighboring countries in western Europe ensures access to the medicine to anyone with SCD who needs it in the Benelux union “This partnership agreement … is a fantastic opportunity as it unlocks the potential of Siklos in the Benelux countries,” Simon Estcourt, managing director of Abacus Medicine, said in a company press release “We are delighted that this distribution agreement will make this treatment option available to patients in Belgium the Netherlands and Luxembourg,” Estcourt added SCD is a genetic disease in which red blood cells become rigid and misshapen — changing from a typical disc-like shape to a sickle-like shape Painful vaso-occlusive crises (VOCs) occur when sickle-shaped red blood cells clog tiny blood vessels in the body interrupting blood flow and oxygen supply to tissues Blood vessel obstruction can happen anywhere in the body and cause severe pain and swelling Siklos is thought to help prevent red blood cells from taking on a sickle-like shape and lower the risk of VOCs by stimulating the production of an alternative version of hemoglobin normally produced during fetal development it’s more effective at transporting oxygen than its adult counterpart AddMedica is very proud to join forces with Abacus Medicine Pharma Services to keep enhancing access to treatment for sickle-cell disease patients as well as the reach of Siklos in important European countries the Siklos is specifically indicated for the prevention of recurrent painful VOCs in adults In Belgium, the Netherlands, and Luxembourg, the therapy is available as 100 mg, film-coated tablets, taken by mouth once daily, preferably in the morning before breakfast the medicine also is available as 1,000-mg film-coated tablets with special score lines that allow each tablet to be easily split into four equal parts of 250 mg “AddMedica is very proud to join forces with Abacus Medicine Pharma Services to keep enhancing access to treatment for sickle-cell disease patients as well as the reach of Siklos in important European countries,” said Franck Hamalian has been used for years in the treatment of other diseases Siklos also is approved to reduce the frequency of painful VOCs and the need for blood transfusions in people with sickle cell anemia the most common and often the most severe form of SCD for patients ages 2 and older with recurrent moderate to severe crises Medunik USA announced the launch of Siklos (hydroxyurea) tablets indicated to reduce the frequency of painful crises and need for blood transfusions in patients aged ≥2 years with sickle cell anemia with recurrent moderate to severe painful crises This is the first hydroxyurea-based treatment for use in pediatric patients with sickle cell anemia.  is thought to cause an immediate inhibition of DNA synthesis by acting as a ribonucleotide reductase inhibitor without interfering with the synthesis of ribonucleic acid or of protein It may contribute to clinical benefit by increasing fetal hemoglobin (hemoglobin F) levels in red blood cells increasing water content of red blood cells and altering the adhesion of red blood cells to endothelium. [hmicms_related_articles] The approval was supported by tolerability and efficacy data from a European sickle cell disease cohort study (N=405) Treatment with Siklos increased the concentration of hemoglobin F and the number of patients having ≥1 painful crisis in the 12 months prior to treatment was significantly reduced after 12 months of treatment.  Siklos carries a Boxed Warning regarding the risks of myelosuppression and malignancies It is available as 100mg strength tablets in 60-count bottles For more information call (844) 884-5520 or visit MedunikUSA.com In Association with Abacus Medicine Pharma Services Abacus Medicine Pharma Services (AMPS) and AddMedica are proud to announce the signing of a partnership agreement for the marketing and distribution of Siklos® in Benelux Siklos® 100mg and 1000mg film-coated tablets are indicated for the treatment of adults adolescents and children over two years of age who have sickle-cell syndrome painful vaso-occlusive crises that happen when blood vessels become blocked by the abnormal red blood cells Managing Director of Abacus Medicine Pharma Services explains: “This partnership agreement between Abacus Medicine Pharma Services and AddMedica is a fantastic opportunity as it unlocks the potential of Siklos® in the Benelux countries We are delighted that this distribution agreement will make this treatment option available to patients in Belgium President of AddMedica continues: “AddMedica is very proud to join forces with Abacus Medicine Pharma Services to keep enhancing access to treatment for sickle-cell disease patients as well as the reach of Siklos® in important European countries.” Approximately 17 million people across the world live with sickle-cell disease and 300,000 infants are born with the disease every year The partnership agreement between Abacus Medicine Pharma Services and AddMedica is an important step in providing better access to medicine and better healthcare to patients with unmet needs as the agreement ensures that Siklos® will be in stock in the Benelux countries Abacus Medicine Pharma Services is part of the Abacus Medicine Group a fast-growing supplier of original prescription medicines +1,200 employees service thousands of customers in Europe and the rest of the world a bespoke global distribution centre and a leadership team with decades of experience AMPS is evolving into the next-generation healthcare and pharma services company by combining the infrastructure and skills at Abacus Medicine with the experience and expertise within AMPS AddMedica is a European company focused on developing and market medical products for rare diseases and niche markets registering and/or market dedicated medical products in rare and debilitating diseases the mission of AddMedica is to support physicians and managed care organizations with high medical value solutions The company’s DNA is based on a flexible business model market and distribution of innovative and original products dedicated to rare and/or neglected diseases For communication queries regarding Abacus Medicine Pharma Services Email: andrew.waiton@abacusmedicine.com cp-customerservices@abacusmedicine.com For communications queries regarding AddMedica Email: anne-sophie.degorce-dumas@theravia.com ROSEMONT, PA, March 12, 2019 /PRNewswire/ - Medunik USA, a company dedicated to improving the health and quality of life of Americans with rare diseases by making orphan drugs available in the U.S., is proud to announce two savings programs to help families pay as little as $0 for their child's Siklos® prescription As the first and only FDA-approved hydroxyurea-based treatment indicated to reduce the frequency of painful crises and to reduce the need for blood transfusions in pediatric patients two years of age and older with sickle cell anemia with recurrent moderate to severe painful crises,1 it is especially important that Siklos® is affordable for families whose children need it "Medunik USA is committed to providing Siklos® at the lowest possible cost to all patients That is why we offer both an eVoucher program and the Siklos At Home™ program as well as a Patient Assistance Program for families who need it" With the Siklos® eVoucher program, savings are applied automatically when an eligible Siklos® prescription is presented at a participating retail pharmacy — no coupon or copay card necessary With the Siklos At Home® program, offered through ProCare Pharmacy Care families save on the cost of their child's prescription and also receive free home delivery* on-staff pharmacists to answer product questions assistance with insurance benefit verification and monthly refill reminders Families who do not have prescription insurance or whose insurance does not cover Siklos® can enjoy the same Siklos At Home® benefits and pay only: In addition to these two savings programs, Medunik USA offers a Patient Assistance Program that allows eligible families to receive Siklos® at no charge For more information about Siklos® tablets, please visit siklosusa.com WHAT IS SIKLOS®?Siklos® is a prescription medicine that is used to reduce the frequency of painful crises and reduce the need for blood transfusions in children with sickle cell anemia with recurrent moderate to severe painful crises It is not known if Siklos® is safe and effective in children less than 2 years of age WARNING: LOW BLOOD CELL COUNT and CANCERSee full prescribing information for complete Boxed Warning WHO SHOULD NOT TAKE SIKLOS®?Do not take Siklos® if you are allergic to hydroxyurea or any of the ingredients in Siklos® See the Medication Guide for a list of the ingredients in Siklos® WHAT SHOULD YOU TELL YOUR HEALTH CARE PROVIDER BEFORE TAKING SIKLOS®?Tell your healthcare provider about all of your medical conditions Tell your healthcare provider about all the medicines you take including prescription and over-the-counter medicines WHAT ARE THE POSSIBLE SIDE EFFECTS OF SIKLOS®?Siklos® may cause serious side effects including: See "What is the most important information I should know about Siklos®?" The most common side effects of Siklos® include: You are encouraged to report negative side effects of prescription drugs to the FDA at www.fda.gov/medwatch Please read the Full Prescribing Information, including Boxed Warning, Medication Guide and Instructions for Use, at www.siklosusa.com member of Duchesnay Pharmaceutical Group (DPG) one of the few anchor companies selected.. member of Duchesnay Pharmaceutical Group (DPG) one of the few anchor companies selected by.. Health Care & Hospitals Medical Pharmaceuticals Pharmaceuticals Retail Do not sell or share my personal information: This slideshow reviews drug information for Siklos. Click here for the complete Siklos new product monograph For a downloadable PDF of this slideshow, click here Financial stability initially served as one of the principal motivations for the creation of a centralised monetary authority (along with providing stability in the value of money) the definition of financial stability has changed significantly over time it meant avoiding or managing banking panics – that is serving as a lender of last resort to the banking system and the payments system This changed in the 20th century with the adoption of the real bills doctrine (Meltzer 2004) followed by the Federal Reserve in its early years which implied that the central bank should head off asset price booms Our recent study blends the quantitative with narrative explanations of the evolution of central banks (Bordo and Siklos 2017) Our quantitative analysis covers the period from 1870 to 2015 We provide an overview of the evolution of monetary policy regimes taking note of the changing role of different meanings of financial stability over time We quantify the similarities and idiosyncrasies for ten central banks.1 We also consider some counterfactuals that ask what inflation (and real GDP performance) might have looked like in select economies had central banks been created earlier than was actually the case and what course inflation would take if inflation targeting had not been introduced in some of the countries that eventually adopted this monetary policy strategy Small open economies are especially useful harbingers of reform and change in central banking especially during the second half of the 20th century particularly following the Bretton Woods system – which arguably represents the last gasp of large economies dictating the monetary policy strategy of small open economies The latter evince greater responsiveness to global shocks emanating from dominant economies over time They also often experience crises whose duration is less persistent but happen frequently enough to prompt changes in how monetary policy is carried out Policymakers continue to search for ways to cooperate across the many financial crises that have plagued the global economy over the centuries this kind of strategy does not bode well for the future of central banking for at least four reasons financial crises are not alike except insofar as they all create significant to severe economic costs the central bank remains a critical institution within government Autonomy or independence cannot prevent governments from eventually getting the monetary policy they want unless the pendulum swings back to greater sharing of sovereignty across countries domestic imperatives will ultimately dictate central banks’ behaviour even if financial crises of the global variety are a thing of the past political economy considerations are unlikely to relegate to history booms and busts in financial and business cycles central banks may lose their prominence among the institutions responsible for carrying out stabilisation policies (e.g Annual data from an earlier paper (Bordo and Siklos 2016) were updated to 2015 The data represent the accumulation of data disseminated over the years by many scholars including from some individual central banks which provides some perspective on the importance of financial crises based on both narrative and statistical approaches The small open economies (SOEs) in the sample do comparatively well across the various indicators of crisis conditions especially Norway and Switzerland (see column 3 Although this result does not exclusively reflect the quality of monetary policy in these economies it is likely one of the factors at play in the relatively small number of statistical breaks in inflation Most of the breaks for SOEs are observed before WWII dominate the landscape of crises in the individual countries sampled varies Global crises are least frequent in Switzerland (two of seven crises identified) while half or a slightly higher proportion of the total accounts for crises in four of the ten economies examined (the US There is also considerable variation in the fraction of crises that exceed a year in duration There are differences in the degree of agreement between the statistical and narrative dating of financial crises The overlap between the quantitative and narrative interpretations of history is not small The results suggest that both approaches are essential for a proper understanding of the determinants of crises and the potential role of central banks Bordo and Siklos (2017) for sources and other calculation details Another illustration comes from counterfactual experiments The basic premise of our counterfactuals is that there exist common factors that drive economic variables of interest whether or not there is some treatment or intervention (Hsaio et al we can use information in the cross-section of inflation and real economic growth performance in countries that had a central bank to ask how these two variables would have behaved had a central bank existed in a country that did not have one over the same period (2012) approach to ask about macroeconomic performance if targeting had not been adopted Figures 1 and 2 display some of the counterfactuals Figure 1 plots what inflation would have been like if the Swiss National Bank (middle) and the Bank of Canada (bottom) had been in existence before they were actually created The smallest impact from the late introduction of central banking is observed for Canada The observed and counterfactual lines are almost on top of each other Canada arguably had a quasi-central bank before the Bank of Canada’s creation inflation would have been not much different it is difficult to see any impact on inflation and inflation volatility had the Fed been in place in 1870 It should be pointed out that the raison d’être of the Fed lies in the search for financial stability and the series of financial crises that hit the US throughout the period shown testifies to the real problem with the monetary regime in the US Figure 1 Counterfactual experiment: Inflation had the Swiss National Bank Figure 2 considers the inflation consequences of inflation targeting We ask what inflation and growth would have been if Canada (1991) and the UK (1992) had not adopted an inflation-targeting strategy (adoption years in parenthesis) and Switzerland did not adopt inflation targeting so these economies act as the controls in estimating the treatment effect of the strategy We define the treatment period as the period since Bretton Woods until inflation targeting is adopted It is immediately clear that inflation is almost always higher in the absence of an inflation target differences between observed and counterfactual inflation rates show that the improvement in inflation performance is considerable the evidence is more mixed with real economic growth lower under inflation targeting than in the counterfactual case Figure 2 Counterfactual experiments: Inflation and real economic growth with and without inflation targeting There are few indications that price stability is no longer a desirable objective but central banks are being asked to widen the scope of their mandate to include evincing a concern for financial stability Long before some central banks were given a macroeconomic stability mandate largely centred on the maintenance of financial stability This took place at a time when little thought was given about whether the monetary authority should be autonomous from government Since we now accept central bank autonomy is useful it is less clear how this principle is squared with an expectation that financial stability and monetary stability are both tasks that a central bank ought to carry out We have not seen the last of attempts to improve how monetary policy is conducted Just as the pendulum has swung back to the monetary authorities evincing a concern for financial stability the same forces will lead to a rewriting of the ‘contract’ between the central bank and the government Whether this means a loss of autonomy or the development of a contingent contract between the central bank and government remains to be seen crisis times require a different approach to policy than normal times “Central Banks: Evolution and Innovation in Historical Perspective” “Central Bank Credibility: An Historical and Quantitative Exploration” and J Qvigstad (eds.) Central Banks At A Crossroads Geithner, T (2016), “Are We Safer? The Case for Updating Bagehot” “A Panel Data Approach for Program Evaluation: Measuring the Benefits of Political and Economic Integration of Hong Kong With Mainland China” Mosque of Ottoman general and Bosnia's Sanjak-bey Malkocoglu Bali-bey in Hungarian city Siklos is a real tourist attraction center Malkocoglu Bali-bey mosque was built between 1543 and 1565 and reconstructed into its original form by local authorities and Turkish government in 1994 since when it became a real tourist attraction in Hungarian city national costumes and coffee cups from the Ottoman legacy Marketing manager in the House of Culture in Siklos Selma Zemanic revealed few details about the mosque to Anadolu Agency (AA) She said the mosque ruins were found in 1969 mosque was used as a shelter to homeless," said Selma showing the illustration of the mosque the mosque won the award "Europa Nostra" for the greatest architectural marvel old national costumes and coffee cups to the mosque," said Selma Authorities of Siklos preserve documents about the mosque and general Malkocoglu "Malkocoglu built the mosque at the time when Ottomans were conquering these territories," said Selma adding that this is the only preserved mosque in Siklos among many that dated from the same period there are around 30 Muslims in Siklos who come for the weekly prayer on Friday to this mosque," she said Malkocoglu Bali-bey was Ottoman general who gained the fame in the battles in Hungary Malkocoglu Bali-bey mosque is one of the three mosques in Hungary next to the one in Budapest and the one in Gyor city Please enable JS and disable any ad blocker You will also start receiving the Star's free morning newsletter in their Weston-Pelham Park neighbourhood in Toronto The couple purchased a row house for less than $900,000 which they say allowed them to make long-term plans to stay in Toronto say the row house gives them space to consider having kids without the hefty price tag of a detached or semi-detached house moved into Toronto’s Weston-Pelham Park a decade ago and have watched as many of their friends have uprooted for the suburbs Creating the homes families want at prices they can afford is a task governments need to take seriously they wondered how long they could make life in Toronto work it did little more than buy time — maybe five years or so until they might want to have kids and would want more space Siklos is certain of her future in the city she grew up in — making plans that stretch on 10 A 1910s row house — a more affordable foothold into Toronto’s single-family home market offering more space than a condo for less cost than a detached house who closed on the Weston-Pelham Park row house in the $800,000-range last fall as many young families have fled the city or even the province in search of more traditional and spacious single-family homes many housing observers have called for a bolstering of what’s known as the “missing middle,” or housing that falls between a tower unit and a detached house But as the city has opened the door for new and expanded housing types from backyard suites to multiplexes and encouraged more “family-sized” apartments the question remains: what kind of home could keep young families from fleeing for the suburbs Siklos and her husband found their answer near St Where about half of the homes in their area are detached or semi-detached just over 15 per cent are row houses like Siklos’ that can offer backyards and extra space with slightly lower price tags plus a third of the housing stock made up of walk-up apartments of four storeys or less While Toronto’s child population has dropped in the last decade in this small pocket it’s been rising nearly 20 per cent of residents were age 14 or younger versus 13.8 per cent citywide; 5.5 per cent were age four or under a Toronto realtor who often works with young first-time homebuyers says he sees many searching for mid-sized options like townhomes They simply can’t afford Toronto’s detached houses — now averaging nearly $1.7 million — but still want space to grow their family Frodyma says larger condos and apartments are an attractive option given indoor parking and elevators rather than stairs for carrying in groceries or strollers feeling a townhome is more “homey” and tends to offer more space “there’s a limited supply,” he said That’s the future of the city,” Frodyma said the signs of a kid-dominated community were evident in Weston-Pelham Park Bright plastic slides dotted backyards of neatly arranged townhomes with bikes and car seats on the porches of semis and row homes and a pair of young boys chatting in the local park who has rented a house nearby since the summer She and her partner previously rented a one-bedroom in Roncesvalles and after welcoming their first child nearly two years ago realized they needed something bigger — but they were priced out of two-bedrooms in their area Weston-Pelham Park offered them a chance to stay in the city while finding the kind of home their growing family needed The couple now pays $2,500 plus utilities for a single-family home The young families who spoke with the Star were looking for much more than brick-and-mortar when considering where to live pointing to other factors like transit access and playgrounds we’ve just made this really beautiful community,” Gidzinski said noting many parents of young kids in the area would co-ordinate park meetups via WhatsApp access to cycling routes and public transit were important factors in choosing a home and they were happy to find somewhere they could easily head outside with their West Highland terrier She believes a hankering for space and greenery — versus life “up in a tower” — was amplified for many city dwellers by the COVID-19 pandemic The other major factor for them was staying as close as possible to their family and friends “When we think about the possibility of having kids We would lose any sense of child care support Maintaining all of that was extremely important to us.” She’s come to love the energy of her new neighbourhood which seems to surge with the schedule of the school day — a buzz before the first bell and after classes let out “It feels like the whole neighbourhood lives and breathes the routines of a child.” president of the Building Industry and Land Development Association says he’s watched over the years as securing family-sized housing has required young buyers to look further and further from Toronto he said some Toronto builders may be attracted to building condos rather than lowrise developments like townhomes to spread the costs across more units “The land in the City of Toronto is going to be more expensive than something like Mississauga or Oshawa,” Wilkes said with so many young buyers looking for cheaper entry-level condos While there may be some demand for larger apartments he said once you reached two or three bedrooms the price points tended to be comparable with lower-rise options like townhomes Wilkes sees Toronto as making progress toward bolstering its mid-sized home stock in recent years, pointing to decisions like the recent changes to zoning laws that opened up areas previously roped off for detached and semi-detached homes to allow multiple units But if officials want to see development of more townhomes he suggested incentivizing builders by extending as-of-right permissions as well as reconsidering requirements such as angular planes — a kind of sloped design — to maximize a home’s “livable area.” and Santi’s grandparents — have lived in a semi for more than a decade Their life in Toronto is one they wouldn’t want to trade a covered porch stores soccer balls and net poles a sweep of Santi’s childhood photos are displayed on the walls they have easy access to transit and can easily walk to local produce stands if they need an item or two for dinner They’ve been able to introduce Santi to an array of international cuisines that only the restaurant scene of a metropolis can offer while still feeling a world away from the hustle and bustle — with Santi’s friends often scampering up to their door in the summertime to ask if he can come play soccer It’s a scene that reminds Montoya of his own childhood days in Peru He knows it’s the kind of life that’s getting harder to secure in Toronto for young families like theirs one house on their street sold for nearly $1.3 million the reality of Toronto’s housing market has simply been too much and one after the other have left for greener pastures in the suburbs “I have lots of friends and family who have moved to Pickering Your browser is out of date and potentially vulnerable to security risks.We recommend switching to one of the following browsers: Account processing issue - the email address may already exist Invalid password or account does not exist Submitting this form below will send a message to your email with a link to change your password An email message containing instructions on how to reset your password has been sent to the email address listed on your account LOS ANGELES (Fortune) -- -- One of the executives whose hapless job it was to determine whether Michael Jackson really had it in him to mount a 50-show concert gig in London slated to begin next month told me a few weeks ago that Jackson was surprisingly robust was that Jackson was motivated not just by financial gain or rehabilitating his career -- though he had dug himself quite a hole in both areas over the years Jackson was doing it for his three young kids and his wish for them to see him back on top of his game -- more "King of Pop" than the "Wacko Jacko" the tabloids had branded him (with considerable justification) longtime friend and collaborator of Jackson's -- he wrote the lyrics to the now sadly apt ballad "Gone Too Soon" -- was planning to attend a full rehearsal of the show at Los Angeles' Staples Center this weekend "He was very enthused and his energy level was high as well as his optimism," said Kohan "Not that it was a last hurrah -- but it was like a reawakening." Another executive who had dealings with Jackson over the years recalled hearing of his being rushed to hospital in Los Angeles on Thursday: "The first thing everybody thought was 'here he goes again,' " this person said "Three weeks before a TV show or concert he gets sick to get out of things." and he was pronounced dead after being rushed to UCLA Medical Center It was all over except for the speculation about his final days and the messes that Jackson's untimely death has left behind Jackson's was a life and career of staggering talent and towering weirdness and perhaps the ultimate cautionary tale of the perils of child stardom We'll leave most of the saga for others to parse but marvel instead at how Jackson is now something more: the ultimate story of the Hollywood comeback that was never to be -- at least not the way it was planned When tickets for Jackson's 50-date comeback concert series went on sale in March some 750,000 tickets sold out in five hours The shows had been arranged by AEG Live Entertainment an arm of former telecom billionaire Phil Anschultz's private empire the large London arena where the shows were scheduled to take place over several months had prepared a new suit for Jackson to perform in encompassing 300,000 crystal elements that is reportedly worth 1 million pounds Jackson's comeback was to include a concert DVD and the release of the singer's first new singles in years And the London dates were just the beginning of a tour that might have earned Jackson more than $400 million and even spawned a "Thriller" casino in Macau -- the name coming from his 1982 album that remains the best-seller of all time There's no question Jackson needed the money having dug himself into a hole of close to $500 million in debts over the years by living beyond even his own outsized fantasyland means and fending off a seemingly endless stream of litigation He also certainly had assets -- mostly notably his own music royalties plus his stake from a music publishing library with more than 200 Beatles songs that he had shrewdly purchased in 1985 But after various financial reorganizations aimed at staving off creditors Jackson today owns 25% of the library -- the remainder is held by Sony Music -- and it is held in a trust designed to shield it from future claims against his estate Jackson only released one album in the past decade --it didn't sell well -- and his last few years were marked by controversy and strange dealings In 1993, Jackson paid $15 million to settle a civil lawsuit brought by the parents of a boy who had accused Jackson of molesting him, and in 2005 he was acquitted of similar criminal charges stemming from the allegations of another boy. (See editor note at bottom.) Last year Jackson narrowly avoided foreclosure on his Neverland Ranch after defaulting on a $24.5 million mortgage when the note was acquired by a big private equity firm that specializes in real estate an auction of Jackson's possessions from Neverland -- from sequined gloves to artwork -- was called off after Jackson arranged a settlement with the auction house coming right after tickets for Jackson's London shows sold out and presumably he was paid something might suggest that the two events are related.) has done billions of dollars of real estate deals that are often much larger than his firm's bet on Neverland -- for which Jackson was given a piece of the note on the property But the purchase was part of a bigger mission by Barrack to rehabilitate Jackson's career and in turn (and in theory) boost the market value of Neverland it was Barrack who called his friend Anschultz to pitch the idea of Jackson's comeback concert series AEG was behind other megastar shows like Celine Dion's concert run in Las Vegas AEG has reportedly invested more than $30 million in Jackson's comeback that will never be Judging by the throngs holding vigils for Jackson Neverland still has obvious potential to pay off as a kind of Graceland (i.e. a museum for Jackson devotees) if Barrack decides to go that route it's also the case that Elvis Presley sold more records in the six months following his death in 1977 than he had over the previous decade Presley's daughter was married to Jackson briefly wasn't she people will speculate for years about whether Jackson's London concerts would have worked or even happened had he lived One person close to Jackson said that he did a full rehearsal of the show on Wednesday night AEG is just the latest -- and last -- Jackson business partner to be left with something of a mess to sort out But there is an unmistakable irony in this tragedy: In death Jackson's long-awaited comeback looks to already be well underway -- An earlier version of this story said that Michael Jackson paid $22 million to settle a civil lawsuit brought by the parents of a 13-year-old boy who had accused Jackson of molesting him and that he had been acquitted of those charges in a criminal trial. A corrected version is above. First Published: June 26 While Algoma Central Properties president Tom Siklos would prefer if its parent company wasn’t getting out of the real estate business “We want to accomplish what the board has asked and when we walk away from here we want to have raised as much capital as possible,” said Siklos, who’s in his seventh year as president of the Algoma Central Corporation unit Algoma Central Corporation operates the largest Canadian flag fleet of dry and liquid bulk carriers on the Great Lakes-St Lawrence Waterway and has contracts for seven new vessels as part of its ongoing fleet renewal program It also owns ocean dry bulk vessels operating in international markets provides ship management services for other ship owners and owns a ship repair and steel fabricating facility The company is also undertaking a new initiative to grow into global niche markets beginning with a 50-per cent interest in a pneumatic cement carrier business To fund these initiatives Algoma Central Corporation decided last fall to sell its portfolio of 13 properties comprising more than a million square feet of space in Sault Ste The disposition will mark the end of Algoma Central Properties Marie and decided to diversify in the 1970s a hotel and a small office tower which is called Station Tower,” said Siklos “Things went well and there were three subsequent expansions of the shopping centre they decided they wanted to diversify into southern Ontario so they bought a portfolio of properties here in St They bought the building they were headquartered in and then a little bit here and a little bit there “Waterloo was another acquisition for diversification purposes Waterloo was the last big acquisition we made Algoma Central Properties announced last month that the Martindale Business Centre in St located within the “Waterloo Technology Campus” sold for total $36.8 million The Martindale Business Centre is a 35,000-square-foot service plaza that accommodates tenants requiring 1,000 to 10,000 square feet of space Siklos said the “small office and flex industrial space” has roll-up doors in the back but was only being used as office space The Waterloo properties total approximately 155,000 square feet of office space, with 408 Albert combining office, distribution, testing, production, assembly and warehousing. The three buildings were sold to Sandvine The $14.1-million sale of Ridley Square in St The 47,585-square-foot retail and service industry property is situated at the intersection of Fourth Avenue and Martindale Road and offers excellent visibility and access There were multiple bids on each property, according to Siklos. Algoma Central Corporation is listed on the Toronto Stock Exchange and Siklos said the market has reacted favourably to each sale The rest of the Algoma Central Properties portfolio will be listed for sale in the next month or two, according to Siklos. Avison Young, CBRE and Colliers International are the brokers The remaining Sault Ste. Marie properties are: the 195-guestroom Delta Sault Ste. Marie Waterfront Hotel and Conference Centre; the Station 49 apartment building; a three-storey heritage office building at 289 Bay St.; the 62,000-square-foot Station Tower office and retail property; and the 500,000-square-foot Station Mall Catharines properties are: the 44,000-square-foot Huntington Square retail complex; a 57,000-square-foot office building at 75 Corporate Park Dr.; an eight-year-old office building at 25 Corporate Park Dr.; an office building at 20 Corporate Park Dr.; and the 63 Church St office complex that’s home to Algoma Central Corporation’s headquarters Siklos said the portfolio has a 94-per cent occupancy rate and has been performing well But if you were just a real estate company you wouldn’t sell now But if you want to reinvest in higher returns in the shipping business Right now shipping is not doing well worldwide When all the sales are completed sometime next year Siklos and 26 other Algoma Central Properties head office employees will be out of jobs “It’s not what I would have wanted because I run the real estate company but I understand from a portfolio decision-making perspective why they’re doing it,” said Siklos “There are very few times that you get an opportunity to work for a company that’s not cash-strapped We’ve been able to invest in our properties in very meaningful ways so all of them are showing very well because we haven’t had to skimp on maintenance and renovations.” Follow RENX on your favorite social media platform for news delivered to your feed RENX advertisements reach thousands of Canadian professionals every day Baranya lies in the southwestern corner of Hungary it serves as a melting pot between Hungarian Let us see seven spots in this “Mediterranean” county that are certainly worth a visit Of course, no county is complete without its county seat. Hungary’s 5th greatest city satisfies the needs of both tourists and the local people: history lovers may visit the Old Christian Tombs or the castle ruins culture fans may visit Zsolnay Quarter or attend a concert in Kodály Center and those who long for a good beverage may take a sip of the city’s best beers in Egylet This ancient Eastern European tradition includes people dressing up as devils and making a large pyre Villány is probably the richest area in Baranya mostly due to its world-famous wine culture It is most famous for the Villányi Kékfrankos you may find a large variety of local wines ranging from Portugeiser through CabernSauvignonnon to Zweigelt especially if you come during the time of the Wine Festival of Villány And there is nothing more relaxing than enjoying the green panorama from one of the hilltops with a glass of delicious southern Hungarian wine Though most of Baranya’s territory is covered in mountains and hills lying in the western corner of the Great Plains combines Christian and Muslim culture: you may either visit the Franciscan Gothic Monastery with the pottery workshop in it If you need some rest after the long historical guides you may enjoy an afternoon bath in Siklós Spa and probably one of the most Turkish-influenced settlements in Hungary The enormous castle of Szigetvár was the venue of the Ottoman campaign’s greatest siege in which the armies of the Croatian-Hungarian warlord The memory of this siege pervades the entire city: besides the ruins of the fortress visitors interested in history may also visit the Turkish-Hungarian Friendship Park with the statues of the two heroes as well as the Zrínyi Square in the city center Do we need to mention that there are multiple Turkish baths in Szigetvár The Lake Balaton of Baranya – this is how some local people refer to Orfű and its lake. Orfű is a true bathing town with both a swimming pool and several shores to cool visitors down in the hot southern summer. For those who want more than mere swimming or paddleboating, we recommend attending STRAND Festival or Fishing on Orfű latter of which involves concerts by the most popular Hungarian pop bands Szársomlyó is the southernmost mountain of Hungary It is also called the “Mountain Ploughed by the Devil” the mountain chain received its unique shape from a golden plough that the Devil made as part of a bet Visitors may admire the works of contemporary sculptors in the Statue Park at the foot of the hill or take a guided tour and hike along the dense forests and rocky mountainsides of Szársomlyó Braver adventurers may also try hang-gliding from the peak of the mountain Those who prefer culture to nature may also visit one of the settlements around Szársomlyó Kisharsány or Nagyharsány: the latter two are especially attractive during the Ördögkatlan Festival in August when artists and musicians gather from all around Europe to celebrate together for a week and website in this browser for the next time I comment Y"},"category":false,"taxonomy":{"active":false,"name":"category"}},"markup":{"custom_html":true,"wpp-start":"","wpp-end":"<\/ul>","title-start":"","title-end":"<\/h2>","post-html":"{thumb} {title} {stats}<\/span>{excerpt}<\/p><\/li>"},"theme":{"name":""}} You have successfully joined our subscriber list SupportUs Newsletter © 2025 DailyNewsHungary | All rights reserved