| Literature DB >> 32410285 |
Ping Yang1, Pengfei Wang1, Yuyan Song2, An Zhang1, Guodan Yuan2, Yong Cui3.
Abstract
This paper estimates the magnitude of an informational friction limiting credit reallocation to firms during the 2007-2009 financial crisis. Because lenders rely on private information when deciding which relationship to end, borrowers looking for a new lender are adversely selected. I show how to identify private information separately from information common to all lenders but unobservable to the econometrician by using bank shocks within a discrete choice model of relationships. Quantitatively, these informational frictions seem too small to explain the credit crunch in the U.S. syndicated corporate loan market.Entities:
Keywords: COVID-19; epidemiological characteristics; multivariate logistic regression; warning score
Mesh:
Year: 2020 PMID: 32410285 PMCID: PMC7272979 DOI: 10.1002/jmv.26022
Source DB: PubMed Journal: J Med Virol ISSN: 0146-6615 Impact factor: 20.693
Clinical classification of COVID‐19
| Classification | Clinical manifestations | Imaging manifestations |
|---|---|---|
| Mild | Mild clinical symptoms | No pneumonia manifestation |
| Common | Fever, respiratory tract, and other symptoms | Pneumonia manifestation |
| Severe (Meet any of the following manifestations) |
Respiratory distress, respiratory rate (RR) ≥ 30 times/min; In resting stage, oxygen saturation (SpO2) ≤ 93%; Arterial partial pressure of oxygen (PaO2)/Oxygen concentration (FiO2) ≤ 300 mm Hg (1 mm Hg = 0.133 kPa). In a high altitude area (above 1 km), PaO2/FiO2 value should be adjusted based on equation of PaO2/FiO2 × (Atmospheric pressure [mm Hg]/760). | With >50% lesions progression within 24 to 48 h in pulmonary imaging |
| Critical (Meet any of the following manifestations) |
Respiratory failure requiring mechanical ventilation; shock; other organ failure requiring an intensive care unit monitoring and treatment |
Figure 1Epidemiological characteristics of COVID‐19 patients in Chongqing. No significant difference was found between the two groups according to the epidemiological history
Figure 2Age distribution of COVID‐19 patients in Chongqing. The age distribution chart illustrated that the mild group had mainly youths, while the severe one was mainly composed of middle‐aged and elderly patients. It showed that the proportion of severe cases increased with age
Demographics and baseline characteristics of COVID‐19 patients in Chongqing
| Factors | Mild (N = 65) | Severe (N = 68) |
|
| ||
|---|---|---|---|---|---|---|
| No. | % | No. | % | |||
| Sex | 32 | 46.15 | 40 | 58.82 | 2.943 | .2296 |
| 33 | 52.13 | 28 | 41.18 | |||
| First‐generation | 17 | 26.15 | 12 | 17.65 | 1.4105 | .235 |
| 48 | 73.85 | 56 | 82.35 | |||
| Smoking | 58 | 89.23 | 61 | 89.71 | 0.008 | .9289 |
| 7 | 10.77 | 7 | 10.29 | |||
| Hypertension | 60 | 92.31 | 57 | 83.82 | 2.2604 | .1327 |
| 5 | 7.69 | 11 | 16.18 | |||
| Diabetes | 62 | 95.38 | 49 | 72.06 | 13.0979 | .0003 |
| 3 | 4.62 | 19 | 27.94 | |||
| Cardiovascular disease | 65 | 100 | 62 | 91.18 | 8.321 | .016 |
| 0 | 0 | 6 | 8.82 | |||
| Viral hepatitis | 62 | 95.38 | 66 | 97.06 | 0.2575 | .6119 |
| 3 | 4.62 | 2 | 2.94 | |||
| COPD | 65 | 100 | 64 | 94.12 | 3.9421 | .0471 |
| 0 | 0 | 4 | 5.88 | |||
| Tumor | 65 | 100 | 67 | 98.53 | 0.9631 | .3264 |
| 0 | 0 | 1 | 1.47 | |||
| Fatty liver | 64 | 98.46 | 68 | 100 | 1.0541 | .3046 |
| 1 | 1.54 | 0 | 0 | |||
| Chronic kidney disease | 65 | 100 | 66 | 98.53 | 0.9631 | .3264 |
| 0 | 0 | 2 | 1.47 | |||
| Signs and symptoms | ||||||
| Fever | 51 | 78.46 | 40 | 58.82 | 5.9317 | .0149 |
| 14 | 21.54 | 28 | 41.18 | |||
| Dry cough | 39 | 60 | 29 | 42.65 | 4.005 | .0454 |
| 26 | 40 | 39 | 57.35 | |||
| Expectoration | 51 | 78.46 | 46 | 67.65 | 1.9688 | .1606 |
| 14 | 21.54 | 22 | 32.35 | |||
| Shortness of breath | 59 | 90.77 | 29 | 42.65 | 34.3771 | <.0001 |
| 6 | 9.23 | 39 | 57.35 | |||
| Myalgia | 57 | 87.69 | 48 | 70.59 | 5.8496 | .0156 |
| 8 | 12.31 | 20 | 29.41 | |||
| Headache | 62 | 95.38 | 62 | 91.18 | 0.9328 | .3341 |
| 3 | 4.62 | 6 | 8.82 | |||
| Diarrhea | 54 | 83.08 | 63 | 92.65 | 2.8761 | .0899 |
| 11 | 16.92 | 5 | 7.35 | |||
| Initial lung lesions | 10 | 7.52 | 2 | 1.5 | 28.8716 | <.0001 |
| 25 | 18.8 | 2 | 1.5 | |||
| 30 | 22.56 | 64 | 48.12 | |||
Abbreviation: COPD, chronic obstructive pulmonary disease.
P value indicates the differences between mild and severe COVID‐19 patients. P < .05 is considered as statistically significant.
Comparison in laboratory findings between severe and mild COVID‐19 patients in Chongqing
| Factors | Mild (N = 65) | Severe (N = 68) | |||||
|---|---|---|---|---|---|---|---|
| M | QL, QU | M | QL, QU |
|
| ||
| WBC, ×109/L | 5.05 | 4.14, 6.03 | 5.47 | 4.34, 7.45 | −1.9671 | .0492 | |
| Proportion of neutrophils, % | 58.1 | 18, 83.2 | 76.6 | 45.3, 97 | 1.21 | .4459 | |
| Lymphocytes, ×109/L | 1.56 | 1.16, 1.94 | 0 | 0, 0.85 | 7.9884 | <.0001 | |
| Proportion of lymphocytes, % | 31.5 | 24.2, 38.5 | 14.25 | 10.5, 21.5 | 7.3507 | <.0001 | |
| Hemoglobin, g/L | 135 | 118, 145 | 0 | 0, 124.5 | 6.8777 | <.0001 | |
| Platelet, ×109/L | 186 | 143, 236 | 164 | 120.5, 236.5 | 1.2897 | .1972 | |
| PCT, ng/ml | 0.02 | 0.02, 0.04 | 0.07 | 0.04, 0.12 | −6.0860 | <.0001 | |
| PT, s | 11.8 | 11.1, 12.4 | 11.5 | 11.1, 12.2 | 0.5857 | .5581 | |
| APTT, s | 39.6 | 34.3, 43.1 | 31.6 | 27.8, 38.9 | 3.0880 | .002 | |
| Prealbumin, g/L | 210 | 183, 260 | 70 | 0, 141 | 7.9412 | <.0001 | |
| ALT, U/L | 17 | 13, 28 | 28.6 | 20.9, 45.5 | −3.0821 | .0021 | |
| AST, U/L | 23 | 19, 28 | 35 | 26, 47.6 | −4.9969 | <.0001 | |
| LDH, U/L | 190 | 156, 227 | 307.5 | 248.5, 402.5 | −6.9704 | <.0001 | |
| Total protein, g/L | 68.5 | 64.1, 73.3 | 64 | 60.25, 68.5 | 3.3131 | .0009 | |
| Albumin, g/L | 42.6 | 40, 44.5 | 36 | 32.7, 39.8 | 6.1694 | <.0001 | |
| Total bilirubin, μmol/L | 12.9 | 9, 18.5 | 11.95 | 8.55, 18 | 0.9295 | .3514 | |
| BUN, mmol/L | 3.53 | 2.76, 4.73 | 4.2 | 3.05, 5.4 | −2.0167 | .0219 | |
| Cr, μmol/L | 61.8 | 51.4, 73.1 | 63.8 | 50, 75 | −0.2858 | .775 | |
| CRP, mg/L | 3.55 | 2.13, 9.32 | 61.85 | 22.59, 120 | −7.6908 | <.0001 | |
| CD4 count, ×106/L | 478 | 326, 571 | 234.5 | 155.5, 353.5 | 3.5036 | .0002 | |
| CD4/CD8 | 1.23 | 0, 1.68 | 1.42 | 1, 2.02 | 0.23 | .8181 | |
Abbreviations: ALT, alanine aminotransferase; APTT, activated partial thromboplastin time; AST, aspartate aminotransferase; BUN, urea nitrogen; COPD, chronic obstructive pulmonary disease; Cr, creatinine; CRP, C‐reactive protein; LDH, lactic dehydrogenase; PCT, procalcitonin; PT, prothrombin time; QL, lower quartile; QU, upper quartile.
P value indicates the differences between severe and mild patients. P < .05 is considered as statistically significant.
Variable assignment
| Variable | Data recorded as |
|---|---|
| Dependent variable | |
| Severity classification | 1 = Mild, 2 = severe |
| Independent variable | |
| Sex (X1) | 1 = Male, 2 = female |
| Age (X2) | Continuity variable, y |
| 1st‐generation (X3) | 1 = Yes, 0 = no |
| Smoking (X4) | 1 = Yes, 0 = no |
| Duration of symptoms before treatment (X5) | Continuity variable, d |
| Hypertension (X6) | 1 = Yes, 0 = no |
| Diabetes (X7) | 1 = Yes, 0 = no |
| Cardiovascular disease (X8) | 1 = Yes, 0 = no |
| Viral hepatitis (X9) | 1 = Yes, 0 = no |
| COPD (X10) | 1 = Yes, 0 = no |
| Tumor (X11) | 1 = Yes, 0 = no |
| Fatty liver (X12) | 1 = Yes, 0 = no |
| Chronic kidney (X13) | 1 = Yes, 0 = no |
| Fever (X14) | 1 = Yes, 0 = no |
| Dry cough (X15) | 1 = Yes, 0 = no |
| Expectoration (X16) | 1 = Yes, 0 = no |
| Shortness of breath (X17) | 1 = Yes, 0 = no |
| Myalgia (X18) | 1 = Yes, 0 = no |
| Headache (X19) | 1 = Yes, 0 = no |
| Diarrhea (X20) | 1 = Yes, 0 = no |
| WBC (X21) | Continuous variable, ×109/L |
| Proportion of neutrophils (X22) | Continuous variable, % |
| Lymphocytes (X23) | Continuous variable, ×109/L |
| Proportion of lymphocytes (X24) | Continuous variable, % |
| Hemoglobin (X25) | Continuous variable, g/L |
| Platelet (X26) | Continuous variable, ×109/L |
| PCT (X27) | Continuous variable, ng/ml |
| PT (X28) | Continuous variable, s |
| APTT (29) | Continuous variable, s |
| Prealbumin (30) | Continuous variable, g/L |
| ALT (X31) | Continuous variable, U/L |
| AST (X32) | Continuous variable, U/L |
| LDH (X33) | Continuous variable, U/L |
| Total protein (X34) | Continuous variable, g/L |
| Albumin (X35) | Continuous variable, g/L |
| Total bilirubin (X36) | Continuous variable, μmol/L |
| BUN (X37) | Continuous variable, mmol/L |
| Scr (X38) | Continuous variable, μmol/L |
| CRP (X39) | Continuous variable, mg/L |
| CD4 count (X40) | Continuous variable, ×106/L |
| CD4/CD8 (X41) | Continuous variable |
| Initial lung lesions (X42) | 0 = None, 1 = unilateral, 2 = bilateral |
Abbreviations: ALT, alanine aminotransferase; APTT, activated partial thromboplastin time; AST, aspartate aminotransferase; BUN, urea nitrogen; COPD, chronic obstructive pulmonary disease; Cr, creatinine; CRP, C‐reactive protein; LDH, lactic dehydrogenase; PCT, procalcitonin; PT, prothrombin time.
X1, X2, and so forth are designated as the variables used in the multiple regression analysis.
Risk factors related to severe COVID‐19 patients: Multivariate logistic regression analysis
| Variable | Estimate | Standard error | Wals | Statistical significance | Odds ratio (95% confidence interval) |
|---|---|---|---|---|---|
| Constant | −9.1744 | 4.7394 | 3.7472 | .0529 | ⋯ |
| X2 | 0.1232 | 0.0539 | 5.2238 | .0223 | 1.131 (1.018, 1.257) |
| X17 | 3.1825 | 1.0391 | 9.3805 | .0022 | 0.002 (<0.001, 0.101) |
| X23 | −2.3652 | 0.9444 | 6.2722 | .0123 | 0.094 (0.015, 0.598) |
| X27 | 46.8309 | 18.9974 | 6.0768 | .0137 | >999.999 (>999.999, >999.999) |
| X29 | −0.1297 | 0.0764 | 2.8816 | .0896 | 0.878 (0.756, 1.02) |
| X33 | 0.0294 | 0.0105 | 7.7848 | .0053 | 1.03 (1.009, 1.051) |
| X39 | 0.0654 | 0.0316 | 4.2827 | .0385 | 1.068 (1.003, 1.136) |
Figure 3Receiver operating characteristic (ROC) curves for early warning system of severe COVID‐19 patients.The warning model was calculated by independent risk factors. It had an excellent discriminatory power to predict severe COVID‐19 (area under the curve is88%)