Income and consumption smoothing and welfare gains across Pacific Island countries: The role of remittances and foreign aid

We examine the potential welfare gains and channels of income smoothing for Pacific Island Countries (PICs) and nd that, under full risk sharing overall welfare gains across all PICs (particularly, Kiribati, Palau, and Papua New Guinea) are at desirable levels. However, for Australia, the potential welfare gain from risk sharing is almost similar to the gain it obtains if Australia attains full risk sharing with the rest of the OECD countries or with New Zealand alone. We also break down output using the framework of Sorensen and Yosha (1998) to quantify the extent and channels of risk sharing across PICs. For PICs, income-smoothing channels (net factor income and current transfers) play a significant role in buffering the output shock compared to the performance of those channels on smoothing the output shock for OECD countries. Domestic savings also smooth a fair portion of shocks to output, but the extent is much lower compared to that of OECD countries. Further, we analyze the effect of remittances and foreign aid on income smoothing for the PICs exclud- ing Australia and New Zealand. Income smoothing via remittances is highly volatile and significant in recent years, while foreign aid seems to be a stronger and more stable channel for smoothing domestic output shocks for PICs.Foreign Aid, Remittance In ows, International Integration, Income Smoothing, Consumption Smoothing, Pacic Island Countries, Welfare Gains from Risk Sharing

The Role of Institutions, Culture, and Wellbeing in Explaining Bilateral Remittance Flows: Evidence Both Cross-Country and Individual-Level Analysis

This paper explores the determinants of bilateral remittance flows at the country-level; specifically, institutional quality, wellbeing, and culture using a novel dataset published by Ratha and Shaw (2007). Next, we look for support in the German Socio-Economic Panel using individual level regressions which allows us: (i) to control for various individual correlates and fixed effects, and (ii) to analyze remittances sent for different purposes separately. We uncover important relationships with these unique datasets. The country-level results indicate; (i) classical gravity equation variables explain bilateral remittance flows (ii) institutional quality, wellbeing and cultural differences play important role in explaining bilateral remittance flows (iii) financial variables such as exchange rate and interest rate differentials matter as well. Institutional quality matters more for remittance flows between high-income countries and between low-income countries but it does not explain the remittance flows from high-income to low-income countries. Cultural differences become a more dominant factor in explaining the flows between low-income countries. These findings are also supported by the individual level analysis. In addition, German migrants send less money back home when they feel like more German and become home-owners. Countries receive less remittances from Germany when they become happier, their health-care and social-security system improve but receive more with confidence in government, chance of war, and improved political system. These institutional factors only matter for remittances sent for family support. Financial variables such interest rate and exchange rate differentials however, only matter for remittances sent for savings purposes. The results have important policy implications. Institutions matter for remittances but treating whole institutions as one in this framework can be misleading. The role of financial variables, indicators of institutions, and culture depend on the form of remittance and the characteristics of receiving and sending countries.Bilateral cross-country remittance data, individual-level remittance data, institutional quality, wellbeing, gravity equations.

An Update on BRAF Inhibitors and Other New Molecular Targets for the Treatment of Malignant Melanoma of the Skin

Malignant melanoma of the skin originates from mutations in melanocytes and can be lethal if unrecognized or untreated in its earlier stages. Deaths from melanoma are increasing in the United States and around the world every year. The available treatments produce low rates of response with modest survival impact. Among potential molecular targets under investigation, which are mostly in the tyrosine kinase pathway, the BRAF (V-raf murine sarcoma viral oncogene homolog B1) gene is the best studied and most frequently reported mutation in melanoma. The molecular targets for melanoma treatment, promising drugs for future melanoma treatment as well as the new molecular entities that are approved are reviewed here. Approved by FDA in 2011, vemurafenib (Zelboraf) is the first personalized targeted therapy for treatment of metastatic melanoma that acts by selectively inhibiting BRAFV600E. This has opened a new avenue for the discovery of targeted drug therapies for melanoma based on the principles of pharmacogenomics

Why Patients Need Protection From the Sun

Sunlight has been thought to be beneficial in recent decades, a time in which widespread tanning has become the norm. However, some patients’ quest for the perfect tan may lead them to permanent disfigurement and early death due to the damaging effects of ultraviolet (UV) radiation

Pengaruh Business Intelligence Terhadap Dunia Bisnis

Ketatnya persaingan dalam dunia bisnis memberikan pengaruh terhadap para pelaku bisnis untuk selalu memperbaharui strategi pemasaran dan penjualannya. Khususnya pada saat sekarang, dimana bisnis dapat dilakukan secara offline dan online. Dan untuk bisnis online, yang sekarang semua pelaku bisnis baik yang sudah lama berkecimpung ataupun yang baru harus selalu memiliki strategi pemasaran dan penjualan terbaru. Berkaitan dengan strategi pemasaran dan penjualan, business intelligence dapat membantu pelaku bisnis online yang termasuk di dalamnya yaitu Perusahaan, untuk memperoleh pengetahuan yang jelas tentang faktor – faktor apa sajakah yang dapat mempengaruhi kinerja Perusahaan. Dan setelah mengetahui faktor – faktor apa saja yang berpengaruh terhadap kinerja, maka hal tersebut dapat membantu Perusahaan dalam mengambil  keputusan dan meningkatkan kekuatan dari usaha yang dikelola. Aplikasi yang ada pada business intelligence dapat dipakai untuk menganalisis konsumen, produk, dan delivery channel yang dipakai. Dengan adanya business intelligence, maka Perusahaan dapat mengelola kemudianmengolah data menjadi informasi sehingga tidak terpaku pada angka – angka saja.Memahami,meningkatkan kinerja, penganggaran biaya yang lebih efisien, dan mengidentifikasipeluang bisnis baru merupakan manfaat yang diperoleh ketika Perusahaan menerapkan businessintelligence. Penjualan suatu produk tidak hanya ditentukan oleh harga dan kualitas produk saja,karena ada beberapa faktor lain yang ikut mempengaruhinya diantaranya adalah karakteristikpembeli, faktor geografi, dan masih ada faktor lainnya. Karena faktor – faktor tersebut peran daribusiness intelligence sangat diperlukan. Dimana pelaku bisnis ataupun Perusahaan memerlukanalat bantu yang salah satunya adalah business intelligence untuk mengolah data untuk menjadiinformasi dari produk yang dijual sehingga nantinya akan dihasilkan keputusan yang akan diambiloleh pelaku bisnis atau Perusahaan tersebut. Kata Kunci: bisnis, online, Perusahaan, business intellig

Linkage between Corporate Governance and Financial Performance in an Emerging Economy

The objective of this study is to explore the Linkage between Corporate Governance and Financial Performance in an Emerging Economy in the banking sector of Bangladesh. The data have been taken from primary sources. Data were collected from 22 listed banks on the Dhaka Stock Exchange (DSE). This data were analyzed by using different statistical tools like structural equation model (SEM) with the help of SmartPLS-3 software. It is found that some important factors like enablers that improve corporate governance, obstacles that affect corporate governance those are the influential factors to build performance of selected bank. This study further supports the argument that when bank implement good corporate governance principles, it experiences improved financial performance. This study, with its emphasis on developing a corporate governance model, makes a significant contribution to the body of knowledge on corporate governance in emerging economies like Bangladesh

Income and consumption smoothing and welfare gains across Pacific Island countries: The role of remittances and foreign aid

We examine the potential welfare gains and channels of income smoothing for Pacific Island Countries (PICs) and nd that, under full risk sharing overall welfare gains across all PICs (particularly, Kiribati, Palau, and Papua New Guinea) are at desirable levels. However, for Australia, the potential welfare gain from risk sharing is almost similar to the gain it obtains if Australia attains full risk sharing with the rest of the OECD countries or with New Zealand alone. We also break down output using the framework of Sorensen and Yosha (1998) to quantify the extent and channels of risk sharing across PICs. For PICs, income-smoothing channels (net factor income and current transfers) play a significant role in buffering the output shock compared to the performance of those channels on smoothing the output shock for OECD countries. Domestic savings also smooth a fair portion of shocks to output, but the extent is much lower compared to that of OECD countries. Further, we analyze the effect of remittances and foreign aid on income smoothing for the PICs exclud- ing Australia and New Zealand. Income smoothing via remittances is highly volatile and significant in recent years, while foreign aid seems to be a stronger and more stable channel for smoothing domestic output shocks for PICs

Income and consumption smoothing and welfare gains across Pacific Island countries: The role of remittances and foreign aid

We examine the potential welfare gains and channels of income smoothing for Pacific Island Countries (PICs) and nd that, under full risk sharing overall welfare gains across all PICs (particularly, Kiribati, Palau, and Papua New Guinea) are at desirable levels. However, for Australia, the potential welfare gain from risk sharing is almost similar to the gain it obtains if Australia attains full risk sharing with the rest of the OECD countries or with New Zealand alone. We also break down output using the framework of Sorensen and Yosha (1998) to quantify the extent and channels of risk sharing across PICs. For PICs, income-smoothing channels (net factor income and current transfers) play a significant role in buffering the output shock compared to the performance of those channels on smoothing the output shock for OECD countries. Domestic savings also smooth a fair portion of shocks to output, but the extent is much lower compared to that of OECD countries. Further, we analyze the effect of remittances and foreign aid on income smoothing for the PICs exclud- ing Australia and New Zealand. Income smoothing via remittances is highly volatile and significant in recent years, while foreign aid seems to be a stronger and more stable channel for smoothing domestic output shocks for PICs