Are Polish firms risk-averting or risk-loving? : evidence on demand uncertainty and the capital-labour ratio in a transition economy

This paper investigates the effect of demand uncertainty on the capital-labour ratio of non-financial firms in Poland in order to infer the firms’ risk behaviour. A generic model is used to characterise a utility maximising firm in a transition economy with demand uncertainty and imperfect competition. It is assumed that labour is completely variable and capital is quasi-fixed. The demand for capital, and hence the capital-labour ratio, derives from the optimisation of expected costs and the firm’s pricing and output decisions, and crucially depends on the sign of the covariance term i.e. the firm’s risk behaviour. The main proposition of the model is that if firms are risk-loving, an increase in demand uncertainty increases the capital-labour ratio, whereas the capital-labour ratio would decrease when a firm is risk-averting. The model is estimated using data from a cross-section of 148 non-financial firms in Poland. The results unambiguously show that there exists a significant positive relationship between demand uncertainty and the capital-labour ratio. This finding suggests that Polish firms are risk-lovers. The evidence may have important implications for the needed set of regulations and corporate governance in Poland as part of the necessary economic reform.

The Politics of Town Hall Meetings: Analyzing Constituent Relations-in-Interaction

The politics of town meetings proposes that town hall meetings are institutions of representative democracy that present an opportunity for constituents to hold their elected representatives accountable in a public setting. Constituent relations-in-interaction glosses a complex set of interactional practices and procedures through which ensembles of participants bring town hall meetings, as structures of social interaction, into being. This study uses conversation analysis, the study of talk-in-interaction, to show that the politics of town hall meetings orients to three types of accountability: Interactional accountability, political accountability, and public accountability. The articulation of these accountability types provides a sense of overall-structural organization to the structure and activities giving shape to town hall meetings

Timing of poverty in childhood and adolescent health: Evidence from the US and UK

Childhood poverty is associated with poorer adolescent health and health behaviours, but the importance of the timing of poverty remains unclear. There may be critical or sensitive periods in early life or early adolescence, or poverty may have cumulative effects throughout childhood. Understanding when poverty is most important can support efficient timing of interventions to raise family income or buffer against the effects of low income, but answers may vary across social contexts. The US and the UK are a useful comparison with similar liberal approaches to cash transfers, but very different approaches to healthcare provision. Utilising data from large population studies in the US (n = 9408; born 1979–1996) and UK (n = 1204; born 1991–1997), this study employs a structured life course approach to compare competing hypotheses about the importance of the timing or pattern of childhood exposure to poverty in predicting adolescent health limitations, symptoms of psychiatric distress, and smoking at age 16 (age 15/16 in US). Household income histories identified experience of poverty (measured as <60% of the national median equivalised income for a given year) in early life (ages 0–5), mid-childhood (ages 6–10) and early adolescence (ages 11–15). The Bayesian Information Criterion (BIC) compared fit across models with variables representing different life course patterns of exposure to poverty. Adolescent distress was not associated with poverty in either country. In both countries, however, variables representing cumulative or persistent experiences of poverty exhibited optimal fit of all poverty exposure variables in predicting adolescent smoking and health limitations. There was also evidence of an early life sensitive period for smoking in the US. Poverty was more persistent in the US, but associations between poverty and outcomes were consistent across countries. Although poverty can have cumulative effects on health and behaviour, early interventions may offer the best long-term protection

Improving nanopore read accuracy with the R2C2 method enables the sequencing of highly multiplexed full-length single-cell cDNA.

High-throughput short-read sequencing has revolutionized how transcriptomes are quantified and annotated. However, while Illumina short-read sequencers can be used to analyze entire transcriptomes down to the level of individual splicing events with great accuracy, they fall short of analyzing how these individual events are combined into complete RNA transcript isoforms. Because of this shortfall, long-distance information is required to complement short-read sequencing to analyze transcriptomes on the level of full-length RNA transcript isoforms. While long-read sequencing technology can provide this long-distance information, there are issues with both Pacific Biosciences (PacBio) and Oxford Nanopore Technologies (ONT) long-read sequencing technologies that prevent their widespread adoption. Briefly, PacBio sequencers produce low numbers of reads with high accuracy, while ONT sequencers produce higher numbers of reads with lower accuracy. Here, we introduce and validate a long-read ONT-based sequencing method. At the same cost, our Rolling Circle Amplification to Concatemeric Consensus (R2C2) method generates more accurate reads of full-length RNA transcript isoforms than any other available long-read sequencing method. These reads can then be used to generate isoform-level transcriptomes for both genome annotation and differential expression analysis in bulk or single-cell samples

Capillary Flow Experiments Began on the International Space Station

The Capillary Flow Experiments (CFEs) are a suite of fluid physics flight experiments designed to investigate capillary flows and phenomena in low gravity. Data obtained from the CFEs will be crucial to NASA s Space Exploration Initiative, particularly pertaining to fluids management systems such as fuels and cryogen storage systems, thermal control systems (e.g., water recycling), and materials processing in the liquid state. NASA s current plans for exploration missions assume the use of larger liquid propellant masses than have ever flown on interplanetary missions. Under low-gravity conditions, capillary forces can be exploited to control fluid orientation so that such large mission-critical systems perform predictably. The first of the CFE experiments has been conducted on the International Space Station, and the data are being analyzed. The experiment suite is described briefly