135 research outputs found
A Theory of Dynamic Tariff and Quota Retaliation
This paper characterizes, under the most general conditions to date, the steady-state equilibria of a symmetric, two-country trade model in which countries move in alternating-move, dynamic either tariffsetting or quota-setting games in Markov Perfect strategies, and compares the respective equilibrium level of tariffs and quotas with the corresponding pairs in the equilibria of static games. Our results imply that the alleged non-equivalence of the outcomes of tariff-retaliation (neither free trade nor autarky) and quota-retaliation (asymptotic autarky) games in the literature depends crucially on complete myopia, and can be dismissed altogether once dynamic considerations are introduced in an operationally significant manner
A Theory of Dynamic Tariff and Quota Retaliation
This paper characterizes, under the most general conditions to date, the steady-state equilibria of a symmetric, two-country trade model in which countries move in alternating-move, dynamic either tariffsetting or quota-setting games in Markov Perfect strategies, and compares the respective equilibrium level of tariffs and quotas with the corresponding pairs in the equilibria of static games. Our results imply that the alleged non-equivalence of the outcomes of tariff-retaliation (neither free trade nor autarky) and quota-retaliation (asymptotic autarky) games in the literature depends crucially on complete myopia, and can be dismissed altogether once dynamic considerations are introduced in an operationally significant manner.Foreign trade policy; Tariff; Quota; Retaliation; Dynamic Game; Markov perfect equilibrium; Supermodular games
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Disease Ecology, Biodiversity, and the Latitudinal Gradient in Income
While most of the world is thought to be on long-term economic growth paths, more than one-sixth of the world is roughly as poor today as their ancestors were hundreds of years ago. The majority of the extremely poor live in the tropics. The latitudinal gradient in income is highly suggestive of underlying biophysical drivers, of which disease conditions are an especially salient example. However, conclusions have been confounded by the simultaneous causality between income and disease, in addition to potentially spurious relationships. We use a simultaneous equations model to estimate the relative effects of vector-borne and parasitic diseases (VBPDs) and income on each other, controlling for other factors. Our statistical model indicates that VBPDs have systematically affected economic development, evident in contemporary levels of per capita income. The burden of VBDPs is, in turn, determined by underlying ecological conditions. In particular, the model predicts it to rise as biodiversity falls. Through these positive effects on human health, the model thus identifies measurable economic benefits of biodiversity
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Poverty, Disease, and the Ecology of Complex Systems
Understanding why some human populations remain persistently poor remains a significant challenge for both the social and natural sciences. The extremely poor are generally reliant on their immediate natural resource base for subsistence and suffer high rates of mortality due to parasitic and infectious diseases. Economists have developed a range of models to explain persistent poverty, often characterized as poverty traps, but these rarely account for complex biophysical processes. In this Essay, we argue that by coupling insights from ecology and economics, we can begin to model and understand the complex dynamics that underlie the generation and maintenance of poverty traps, which can then be used to inform analyses and possible intervention policies. To illustrate the utility of this approach, we present a simple coupled model of infectious diseases and economic growth, where poverty traps emerge from nonlinear relationships determined by the number of pathogens in the system. These nonlinearities are comparable to those often incorporated into poverty trap models in the economics literature, but, importantly, here the mechanism is anchored in core ecological principles. Coupled models of this sort could be usefully developed in many economically important biophysical systems—such as agriculture, fisheries, nutrition, and land use change—to serve as foundations for deeper explorations of how fundamental ecological processes influence structural poverty and economic development
The Far Ultraviolet Spectroscopic Explorer Survey of OVI Absorption in the Disk of the Milky Way
To probe the distribution and physical characteristics of interstellar gas at
temperatures T ~ 3e5 K in the disk of the Milky Way, we have used the Far
Ultraviolet Spectroscopic Explorer (FUSE) to observe absorption lines of OVI
toward 148 early-type stars situated at distances 1 kpc. After subtracting off
a mild excess of OVI arising from the Local Bubble, combining our new results
with earlier surveys of OVI, and eliminating stars that show conspicuous
localized X-ray emission, we find an average OVI mid-plane density n_0 = 1.3e-8
cm^-3. The density decreases away from the plane of the Galaxy in a way that is
consistent with an exponential scale height of 3.2 kpc at negative latitudes or
4.6 kpc at positive latitudes. Average volume densities of OVI along different
sight lines exhibit a dispersion of about 0.26 dex, irrespective of the
distances to the target stars. This indicates that OVI does not arise in
randomly situated clouds of a fixed size and density, but instead is
distributed in regions that have a very broad range of column densities, with
the more strongly absorbing clouds having a lower space density. Line widths
and centroid velocities are much larger than those expected from differential
Galactic rotation, but they are nevertheless correlated with distance and
N(OVI), which reinforces our picture of a diverse population of hot plasma
regions that are ubiquitous over the entire Galactic disk. The velocity
extremes of the OVI profiles show a loose correlation with those of very strong
lines of less ionized species, supporting a picture of a turbulent, multiphase
medium churned by shock-heated gas from multiple supernova explosions.Comment: Accepted for publication in ApJS. Preprint with full resolution
images and all 148 spectra available at
http://www.astro.princeton.edu/~dvb/o
The Sloan Digital Sky Survey Reverberation Mapping Project: Key Results
We present the final data from the Sloan Digital Sky Survey Reverberation
Mapping (SDSS-RM) project, a precursor to the SDSS-V Black Hole Mapper
Reverberation Mapping program. This data set includes 11-year photometric and
7-year spectroscopic light curves for 849 broad-line quasars over a redshift
range of 0.1<z<4.5 and a luminosity range of Lbol=1E44-47.5 erg/s, along with
spectral and variability measurements. We report 23, 81, 125, and 110
reverberation mapping lags (relative to optical continuum variability) for
broad Halpha, Hbeta, MgII and CIV using the SDSS-RM sample, spanning much of
the luminosity and redshift ranges of the sample. Using 30 low-redshift RM AGNs
with dynamical-modeling black hole masses, we derive a new estimate of the
average virial factor of =0.62+-0.07 for the line dispersion measured
from the RMS spectrum. The intrinsic scatter of individual virial factors is
0.31+-0.07 dex, indicating a factor of two systematic uncertainty in RM black
hole masses. Our lag measurements reveal significant R-L relations for Hbeta
and MgII at high redshift, consistent with the latest measurements based on
heterogeneous samples. While we are unable to robustly constrain the slope of
the R-L relation for CIV given the limited dynamical range in luminosity, we
found substantially larger scatter in CIV lags at fixed L1350. Using the
SDSS-RM lag sample, we derive improved single-epoch (SE) mass recipes for
Hbeta, MgII and CIV, which are consistent with their respective RM masses as
well as between the SE recipes from two different lines, over the luminosity
range probed by our sample. The new Hbeta and MgII recipes are approximately
unbiased estimators at given RM masses, but there are systematic biases in the
CIV recipe. The intrinsic scatter of SE masses around RM masses is ~0.45 dex
for Hbeta and MgII, increasing to ~0.58 dex for CIV.Comment: 33 pages. Data products available at
ftp://quasar.astro.illinois.edu/public/sdssrm/final_result
Safety, immunogenicity, and reactogenicity of BNT162b2 and mRNA-1273 COVID-19 vaccines given as fourth-dose boosters following two doses of ChAdOx1 nCoV-19 or BNT162b2 and a third dose of BNT162b2 (COV-BOOST): a multicentre, blinded, phase 2, randomised trial
Finishing the euchromatic sequence of the human genome
The sequence of the human genome encodes the genetic instructions for human physiology, as well as rich information about human evolution. In 2001, the International Human Genome Sequencing Consortium reported a draft sequence of the euchromatic portion of the human genome. Since then, the international collaboration has worked to convert this draft into a genome sequence with high accuracy and nearly complete coverage. Here, we report the result of this finishing process. The current genome sequence (Build 35) contains 2.85 billion nucleotides interrupted by only 341 gaps. It covers ∼99% of the euchromatic genome and is accurate to an error rate of ∼1 event per 100,000 bases. Many of the remaining euchromatic gaps are associated with segmental duplications and will require focused work with new methods. The near-complete sequence, the first for a vertebrate, greatly improves the precision of biological analyses of the human genome including studies of gene number, birth and death. Notably, the human enome seems to encode only 20,000-25,000 protein-coding genes. The genome sequence reported here should serve as a firm foundation for biomedical research in the decades ahead
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