Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom

This paper argues that taxation of retained profits is particularly distortionary in an economy with good growth prospects and poorly developed financial markets because it primarily reduces the investment of financially constrained firms, investment that has marginal product greater than the after-tax market real interest rate. Contrarily, taxes on distributed profits or capital gains primarily reduce the investment of financially unconstrained firms. Chile experienced a banking crisis over the period from 1982 to 1986 and in 1984 reduced its tax rate on retained profits from 50 percent to 10 percent. We show that, consistent with our theory, there was a large increase in aggregate investment after the reform which was entirely funded by an increase in retained profits. Further, we show that investment grew by more in industries that depend more on external financing, according to the Rajan and Zingales (1998) measure. Finally, we present some weak evidence from comparisons of investment rates across firms for several different measures of their likelihood of being financially constrained.

Young people’s attitudes towards inter-ethnic and interreligious socializing,courtship and marriage in Indonesia

This paper presents the attitudes of high school students in Indone- sia towards inter-ethnic and inter-religious socializing, courtship and marriage. It also explores how different personal characteristics and social conditions such as gender, ethnicity, type of school and community affect these attitudes. The basic findings come from a survey of more than 3,000 students in senior high schools in five provinces of Indonesia: Jakarta, Yogyakarta, West Sumatra, Central Kalimantan and Bali. Survey data were supplemented with data from interviews and focus group discussions with students and from participant observation in and around the same schools. The authors found that most stu- dents were positive about friendships with people of different ethnicities and different faiths. However, most students did not agree with inter-religious marriage, because they perceived that their religion forbad it. This research was part of a large team project examining how education can contribute to building a more tolerant and multicultural Indonesia

Tropical North Atlantic Subsurface Warming Events as a Fingerprint for AMOC Variability During Marine Isotope Stage 3

The role of Atlantic Meridional Overturning Circulation (AMOC) as the driver of Dansgaard-Oeschger (DO) variability that characterized Marine Isotope Stage 3 (MIS 3) has long been hypothesized. Although there is ample proxy evidence suggesting that DO events were robust features of glacial climate, there is little data supporting a link with AMOC. Recently, modeling studies and subsurface temperature reconstructions have suggested that subsurface warming across the tropical North Atlantic can be used to fingerprint a weakened AMOC during the deglacial because a reduction in the strength of the western boundary current allows warm salinity maximum water of the subtropical gyre to enter the deep tropics. To determine if AMOC variability played a role during the DO cycles of MIS 3, we present new, high-resolution Mg/Ca and δ18O records spanning 24-52 kyr from the near-surface dwelling planktonic foraminifera Globigerinoides ruber and the lower thermocline dwelling planktonic foraminifera Globorotalia truncatulinoides in Southern Caribbean core VM12-107 (11.33°N, 66.63°W, 1079m depth). Our subsurfaceMg/Ca record reveals abrupt increases in Mg/Ca ratios (the largest equal to a 4°C warming) during the interstadial-stadial transition of most DO events during this period. This change is consistent with reconstructions of subsurface warming events associated with cold events across the deglacial using the same core. Additionally, our data support the conclusion reached by a recently published study from the Florida Straits that AMOC did not undergo significant reductions during Heinrich events 2 and 3. This record presents some of the first high-resolution marine sediment derived evidence for variable AMOC during MIS 3

Ontology-based IT pedagogical knowledge framework

Prospective students often have trouble differentiating between many computer-related programs of study such as computer science (CS), information systems (IS), information engineering (IE), software engineering (SE), information technology (IT), electronic commerce (EC), computer engineering (CE), etc. To compound the problem many institutions offer programs with similar names but with different content, or programs with different names but with similar content. The extensive overlap in course content in many computing-focused disciplines has even created confusion among academics. This paper first reviews relevant literature on the topic and then presents a high-level view of an Information Technology (IT) Pedagogical Knowledge framework from an ontological point of view

DIETARY WHEAT GERM OIL INFLUENCES GENE EXPRESSION IN LARVAE AND EGGS OF THE ORIENTAL FRUIT FLY

Changes in animal nutrition, particularly essential dietary components, alter global gene expression patterns. Our goal is to identify molecular markers that serve as early indicators of the quality of insect culture media. Markers of deficient culture media will increase the efficiency of developing optimal systems for mass rearing beneficial insects and some pest species because decisions on culture media quality can be made without waiting through one or several life cycles. The objective of our current study is to discover molecular markers of essential dietary lipid deficiency in the oriental fruit fly, Bactrocera dorsalis. We reared groups of fruit flies separately on media either devoid of or supplemented with wheat germ oil (WGO) and analyzed gene expression in third instar larvae and F1 eggs using 2D electrophoresis. Gel densitometry revealed significant changes in expression levels of genes encoding eight proteins in larvae and 22 proteins in eggs. We identified these proteins by using mass spectrometry (MALDI TOF/TOF) and bioinformatic analyses of the protein sequences. Among these, we identified one gene encoding the receptor of activated C Kinase 1 (RACK1) that increased in expression by 6.8-fold in eggs from adults that were reared as larvae on media supplemented with WGO. RACK1 is an essential component of at least three intracellular signal transduction pathways, making it a good molecular marker candidate of lipid deficiency in fruit flies and possibly many other insect species

Bimodal Distribution of Area-Weighted Latitude of Sunspots And Solar North-South Asymmetry

We study the latitudinal distribution of sunspots observed from 1874 to 2009 using the center-of-latitude (COL). We calculate COL by taking the area-weighted mean latitude of sunspots for each calendar month. We then form the latitudinal distribution of COL for the sunspots appearing in the northern and southern hemispheres separately, and in both hemispheres with unsigned and signed latitudes, respectively. We repeat the analysis with subsets which are divided based on the criterion of which hemisphere is dominant for a given solar cycle. Our primary findings are as follows: (1) COL is not monotonically decreasing with time in each cycle. Small humps can be seen (or short plateaus) around every solar maxima. (2) The distribution of COL resulting from each hemisphere is bimodal, which can well be represented by the double Gaussian function. (3) As far as the primary component of the double Gaussian function is concerned, for a given data subset, the distributions due to the sunspots appearing in two different hemispheres are alike. Regardless of which hemisphere is magnetically dominant, the primary component of the double Gaussian function seems relatively unchanged. (4) When the northern (southern) hemisphere is dominant the width of the secondary component of the double Gaussian function in the northern (southern) hemisphere case is about twice as wide as that in the southern (northern) hemisphere. (5) For the distribution of the COL averaged with signed latitude, whose distribution is basically described by a single Gaussian function, it is shifted to the positive (negative) side when the northern (southern) hemisphere is dominant. Finally, we conclude by briefly discussing the implications of these findings on the variations in the solar activity.Comment: Accepted for publication in New Astronom

Deglacial Tropical Atlantic Subsurface Warming Links Ocean Circulation Variability to the West African Monsoon

Multiple lines of evidence show that cold stadials in the North Atlantic were accompanied by both reductions in Atlantic Meridional Overturning Circulation (AMOC) and collapses of the West African Monsoon (WAM). Although records of terrestrial change identify abrupt WAM variability across the deglaciation, few studies show how ocean temperatures evolved across the deglaciation. To identify the mechanism linking AMOC to the WAM, we generated a new record of subsurface temperature variability over the last 21 kyr based on Mg/Ca ratios in a sub-thermocline dwelling planktonic foraminifera in an Eastern Equatorial Atlantic (EEA) sediment core from the Niger Delta. Our subsurface temperature record shows abrupt subsurface warming during both the Younger Dryas (YD) and Heinrich Event 1. We also conducted a new transient coupled ocean-atmosphere model simulation across the YD that better resolves the western boundary current dynamics and find a strong negative correlation between AMOC strength and EEA subsurface temperatures caused by changes in ocean circulation and rainfall responses that are consistent with the observed WAM change. Our combined proxy and modeling results provide the first evidence that an oceanic teleconnection between AMOC strength and subsurface temperature in the EEA impacted the intensity of the WAM on millennial time scales

Toxicity and Environmental Health Hazards of Petroleum Products in Wells Used for Drinking Water in the Intermountain West

Introduction: Groundwater is aprimary source of drinking water for about 50 percent of the population in the U.S. This source of drinking water has been generally regarded as safe from contamination. Several papers indicate that numerous underground storage tanks containing petroleum products may be leaking and contaminating public water supply wells across the U.S. (Matis, 1971; Ferguson, 1979; Woodhull, 1981; Burmaster and Harris, 1982; Lehman, 1984; Dowd, 1984; OTA, 1984). A study conducted by the Utah Cureau of Solid and Hazardous Wastes in 1985 concluded that there are at least 2,314 underground steel tanks, most of which are used to store gasoline and diesel fuel, in Utah which are more than 20 years old and may be leaking. Contamination of well water by petrolium products from leaking underground storage tanks (LUST) is a matter of increasing concern. LUST pose a serious threat to the groundwater and public health. Leaks of petroleum products from LUST at industrial plants, commercial establishments (e.g., automobile service stations), and other operations could be expected to increase the types and concentrations of petroleum products in groundwater used for drinking and exposure of humans to the toxic effects of these chemical compounds. Petroleum products are persistent and highly mobile contaminatns which are difficult to remove from groundwater. In addition, many of these chemicals are known or suspected carcinogens or mutagens which can pose undesireable human health risks (e.g., cancer, birth defects, and other chronic conditions) at 10 ppb and below (Council on Environmental Quality, 1980). There is a need for more research on the types and concentrations of petroleum products (e.g., benzene, toluene, ethylbenzene) found in public water supply wells used for drinking water and the immunotoxic and neurotoxic effects of these organic compounds. The objectives of this research project were: 1. To characterize petroleum products in raw water from wells used for drinking water in selected areas (industrial, commercial, and other) of Utah. 2. To evaluate the toxicity of selected petroleum products in experimental animals, with emphasis on the following: a. Immunotoxic and hypersensitivity effects. b. Neurotoxic and behavioral effects

Cost-Effectiveness of an Intervention to Reduce Emergency Re-Admissions to Hospital among Older Patients

Background. The objective is to estimate the cost-effectiveness of an intervention that reduces hospital readmission among older people at high risk. A cost-effectiveness model to estimate the costs and health benefits of the intervention was implemented. Methodology/Principal Findings. The model used data from a randomised controlled trial conducted in an Australian tertiary metropolitan hospital. Participants were acute medical admissions aged >65 years with at least one risk factor for readmission: multiple comorbidities, impaired functionality, aged >75 years, 30 recent multiple admissions, poor social support, history of depression. The intervention was a comprehensive nursing and physiotherapy assessment and an individually tailored program of exercise strategies and nurse home visits with telephone follow-up; commencing in hospital and continuing following discharge for 24 weeks. The change to cost outcomes, including the costs of implementing the intervention and all subsequent use of health care services, and, the change to health benefits, represented by quality adjusted life years, were estimated for the intervention as compared to existing practice. The mean change to total costs and quality 38 adjusted life years for an average individual over 24 weeks participating in the intervention were: cost savings of $333 (95$-1,932:1,282) and 0.118 extra quality adjusted life years (95% Bayesian credible interval 0.1:0.136). The mean net41 monetary-benefit per individual for the intervention group compared to the usual care condition was $7,907 (95$5,959:$9,995) for the 24 week period. Conclusions/Significance. The estimation model that describes this intervention predicts cost savings and improved health outcomes. A decision to remain with existing practices causes unnecessary costs and reduced health. Decision makers should consider adopting this 46 program for elderly hospitalised patients