Welfare costs of U.S. quotas on textiles, steel, and autos

This paper deals with the problems of partial equlibrium analysis by presenting estimates from a static ten sector computable general equilibrium (CGE) model of the U.S. economy calibrated to the year 1984. Following the introduction, the paper is organized as follows. Section 2 outlines the model. Section 3 details the sources of estimates of premia on preexisting QRs (quota rents) in 1984 and the sources for the parameters describing demand and supply elasticities. Welfare and employment estimates of QR removal are presented by industry and in the aggregate in Section 4. Conclusions follow in Section 5.Economic Theory&Research,Environmental Economics&Policies,TF054105-DONOR FUNDED OPERATION ADMINISTRATION FEE INCOME AND EXPENSE ACCOUNT,Trade Policy,Access to Markets

Do wage distortions justify protection in the U.S. auto and steel industries?

This paper models endogenous union-induced labor market distortions in applied general equilibrium. It also investigates systematically the impact of labor market distortions under different market structure assumptions. The paper describes how to model labor market distortions with and without labor union activity and how model economies of scale are modelled and how they represent pricing practices. It describes the data and benchmarking for the counterfactual simulations and reports on the welfare costs of VERs under constant returns to scale and no wagedistortions. It also evaluates the distortionary costs of protection created by VERs both with and without labor market distortions and, with and without imperfectly competitive behavior. This step-by-step approach helps isolate the contribution of each distortionary component. It asks what would be the likely benefits of optimal wage and tariff policies in the auto and steel industries.Environmental Economics&Policies,Economic Theory&Research,Health Economics&Finance,Access to Markets,Markets and Market Access

VERs under imperfect competition and foreign direct investment : a case study of the U.S. - Japan auto VER

In 1981, the United States (U.S.) induced the Japanese to agree to a voluntary export restraint (VER) on their export of autos to the U.S. The countries negotiated the VERagainst a backdrop of falling U.S. production and employment in the auto industry and several legislative attempts to curb Japanese imports. The Japanese agreed to limit their U.S. exports to 1.68 million vehicles a year for a three year period. The study found that U.S. auto dealers captured some of the rents from the VER and that increasing returns to scale in the U.S. auto industry imply that protection has an effect on scale efficiency. From 1984 to 1987, seven Japanese auto manufacturing firms established assembly plants in the U.S. The authors argue that the VER generated pure profits in the domestic auto industry which induced the Japanese producers to enter the U.S. domestic market through foreign direct investment. Their entry then largely eliminated the abnormally high profits. The study sequentially introduces into the model the important elements of the auto industry and the VER, thereby isolating the impact of each on the estimates of the welfare effects of the VER. The impact of foreign direct investment was to lower the costs of the VER because the greater entry into domestic auto manufacturing resulted in a lower quota rent premium for foreign autos.Economic Theory&Research,Environmental Economics&Policies,Access to Markets,Markets and Market Access,Banks&Banking Reform

Revenue raising taxes : general equilibrium evaluation of alternative taxation in U.S. petroleum industries

Should the United States increase taxes and tariffs in the energy sector to reduce its federal deficit? This paper uses a twelve sector general equilibrium model to estimate the fiscal effects, and the effects on welfare and employment, of : (i) a 25 percent import tax on imported crude petroleum oil; (ii) a 15 percent excise tax on petroleum products; and (iii) a combination of the two. The excise tax would be the most efficient revenue raising instrument. The 25 percent import tariff would raise US$7.3 billion, while the 15 percent excise tax would raise US$35 billion. Moreover, each dollar raised through a tariff would come at a loss of 25 cents in welfare. Each dollar raised through an excise tax would come at a loss of only one cent in welfare. Acombination of excise taxes, subsidies, and import tariffs would be the least costly way (in terms of welfare) to raise US$20 billion. The optimal tax structure would involve a tariff and a small subsidy on petroleum products to counteract the distortion induced by a tax on oil - the most important input for petroleum products.Economic Theory&Research,Oil Refining&Gas Industry,Public Sector Economics&Finance,Energy and Environment,Environmental Economics&Policies

Shiga toxin/verocytotoxin-producing Escherichia coli infections: practical clinical perspectives

ABSTRACT Escherichia coli strains that produce Shiga toxins/verotoxins are rare, but important, causes of human disease. They are responsible for a spectrum of illnesses that range from the asymptomatic to the life-threatening hemolytic-uremic syndrome; diseases caused by E. coli belonging to serotype O157:H7 are exceptionally severe. Each illness has a fairly predictable trajectory, and good clinical practice at one phase can be inappropriate at other phases. Early recognition, rapid and definitive microbiology, and strategic selection of tests increase the likelihood of good outcomes. The best management of these infections consists of avoiding antibiotics, antimotility agents, and narcotics and implementing aggressive intravenous volume expansion, especially in the early phases of illness. </jats:p

High Prevalence of Peripheral Arterial Disease in HIV-Infected Persons

Background. Atherosclerosis has been assessed in human immunodeficiency virus (HIV)-infected persons by using various methods. Peripheral arterial disease (PAD) has not been evaluated, however. We studied the cross-sectional prevalence of lower limb PAD in an HIV-infected population. Methods. PAD was assessed using the Edinburgh Claudication Questionnaire and by measuring the systolic ankle-brachial blood pressure index (ABI) at rest and after exercise. Patients with PAD were further evaluated by duplex scan of lower limb arteries. Results. Ninety-two consecutive HIV-infected patients were evaluated (23.9% women; mean age, 49.5 years; 61.9% current smokers). Claudication was reported by 15.2% of the patients. PAD was found in 20.7% of the patients: 9.8% had an abnormal ABI (25% decrease after exercise. Of the patients with PAD, 84.2% were investigated with duplex scan, all of whom had atherosclerotic occlusions or stenoses of the iliac or femoral arteries. Age, diabetes, smoking, and low CD4+ T lymphocyte counts were identified as independent predictors of PAD. Conclusions. The prevalence of symptomatic and asymptomatic PAD is high in the HIV-infected population and is much higher than expected (prevalence in the general population, ∼3% at 60 years). This study suggests the presence of an epidemic of PAD ∼20 years earlier in the HIV-infected than in the general population. Larger epidemiological studies are needed to better define risk factors and to evaluate whether PAD is associated with increased mortality, as it is in the general populatio

Frequency of Th17 CD20+ cells in the peripheral blood of rheumatoid arthritis patients is higher compared to healthy subjects

addresses: Peninsula Medical School, University of Exeter, Heavitree Road, Exeter EX1 2LU, UK. [email protected]: PMCID: PMC3334661types: Journal Article; Research Support, Non-U.S. Gov'tRheumatoid arthritis (RA) is considered a T cell driven autoimmune disease, therefore, the ability of B cell depleting biologics, e.g., anti-CD20 antibodies, to alleviate RA is unclear. This study examined the proportions of IL-17-secreting lymphocytes in the blood of healthy subjects and RA patients and determined if Th17 cells belong to a CD20+ subset of T cells

Infants exposed in utero to Hurricane Maria have gut microbiomes with reduced diversity and altered metabolic capacity

The gut microbiome is a potentially important mechanism that links prenatal disaster exposures with increased disease risks. However, whether prenatal disaster exposures are associated with alterations in the infant\u27s gut microbiome remains unknown. We established a birth cohort study named Hurricane as the Origin of Later Alterations in Microbiome (HOLA) after Hurricane Maria struck Puerto Rico in 2017. We enrolled vaginally born Latino term infants aged 2 to 6 months, includin

Cross-genotype AR3-specific neutralizing antibodies confer long-term protection in injecting drug users after HCV clearance

Background & AimsUnderstanding immune protection against hepatitis C virus (HCV) infection is necessary for designing an effective vaccine. A number of broadly-reactive, neutralizing antibodies have been isolated from B cells of HCV-infected subjects. However, it remains unclear whether B cells producing such antibodies contribute to the clearance and long-term immune protection against HCV.MethodsWe analysed the B-cell repertoire of thirteen participants from the Amsterdam Cohort Study among injecting drug users with a median follow-up of 17.5 years. Five subjects ultimately became chronically infected either after primary infection or after reinfection. Eight subjects, at the end of study follow-up, were HCV RNA negative following spontaneous clearance of one or multiple infections. From each subject, 10,000 CD27+IgG+ B cells, collected 0.75 year after HCV infection, were cultured to characterize the antibody repertoire.ResultsUsing a multiplex flow cytometry-based assay to study the antibody binding to E1E2 from genotype 1 to 6, we found that a high frequency of cross-genotype antibodies was associated with spontaneous clearance of one or multiple infections (p-value=0.03). Epitope specificity of these cross-genotype antibodies was determined by alanine mutant scanning in four subjects, who were HCV RNA negative following spontaneous clearance of one or multiple infections. Interestingly, the cross-genotype antibodies were mainly AR3-specific and showed cross-neutralizing activity against HCV. In addition to AR3 antibodies, three subjects developed antibodies recognizing AR4 of which one monoclonal antibody showed cross-neutralizing capacity.ConclusionsTogether, these data suggest that a strong B-cell response producing cross-genotype and neutralizing antibodies, especially targeting AR3, contribute to HCV clearance and long-term immune protection against HCV