Why do gasoline prices react to things that have not happened
Some people complain they are being gouged at the pump, but raising prices now in anticipation of what might happen helps ensure an adequate gas supply.
The Impact of Oil Prices and Trade with an Application to the Euro's Trade Effect
This paper introduces an oil price-distance interaction variable in a gravity equation to explain how trade behaves due to oil price changes. The findings are that as oil prices increase, international trade becomes more localized, in that countries begin trading relatively more with their neighbors. On the other hand when they decrease, trade becomes more dispersed in that distance becomes less relevant and trade increases with more distant partners. As an application, this paper provides a more accurate estimate of the eurozone effect on trade. The countries of the eurozone tend to be much closer together than the other industrialized countries they are normally compared to. When the oil price increase since 1999 is taken into account, the eurozone effect on trade is reduced by as much as a third and up to a half after general equilibrium effects are taken into account.
Electrophysiological Studies of Penticainide (CM 7857), a New Antiarrhythmic Agent, in Mammalian Myocardium
The intracellular electrophysiologic properties of a new antiarrhythmic substance, penticainide, were studied in isolated rabbit, dog, and guinea pig myocardial preparations superfused or perfused with oxygenated Tyrode's solution. “Therapeutic” concentrations of penticainide (1.5 to 3 x 10-5 M) had little effect on sinus node automaticity; sinoatrial conduction was slightly delayed. In atrial, Purkinje and ventricular fibers, amplitude, and maximal rate of rise of phase 0 (dV/dtmax) were decreased by penticainide; Purkinje-ventricle conduction velocity was depressed. Penticainide did not significantly modify action potential duration (APD) of rabbit atria and dog ventricle and reduced APD and effective refractory period (ERP) of dog Purkinje and guinea pig ventricular fibers. Penticainide reduced APD heterogeneity of Purkinje-ventricle junction with a preferential effect at the gate and decreased tension amplitude of perfused papillary muscle in dog heart. The effect of penticainide on dV/dtmax was voltage and rate dependent; the resting block was weak. Thus, penticainide is a class 1 antiarrhythmic agent with properties of class 1B agents such as APD reduction and properties of class 1C agents such as slow recovery kinetic of rate-dependent block.