Capital accumulation, overlapping generations and dynamic efficiency in pension funding

This paper considers dynamic efficiency and income distribution using an overlapping generation model of economic growth. The issues discussed within this framework intend to shed light on an ongoing debate in most developed countries: the reform in funding the retirement pension schemes. Private saving or compulsory distribution of income working independently of one another cannot achieve optimality. A flexible framework for policy action hinges on providing a mix of private saving and the adequate share of state sponsored security system.Overlapping generations, consumption-efficiency, Golden Rule, “pay-as-you-go” security system

Genome Sequence of a Divergent Avian Metapneumovirus from a Monk Parakeet (Myiopsitta monachus).

Here, we report the coding-complete genome sequence of an avian metapneumovirus from a monk parakeet (Myiopsitta monachus), identified by metagenomic next-generation sequencing during an investigation into a disease outbreak in a captive parrot breeding facility. Based on divergence from known strains, this sequence represents a new subgroup of avian metapneumovirus

Trade Impact Assessment of an EU-India Free Trade Agreement

We analyze the effects of potential measures to liberalize trade between the European Union and India using a computable general equilibrium (CGE) model of world trade. Overall, our analysis shows that there are potential gains to be reaped from signing a bilateral FTA between the EU and India. For all scenarios, the FTA is expected to yield positive real income effects for both economies, both in the short- and long-run. The effects are, however, quite small due to the low levels of bilateral trade. In the short run, the real income gains in the EU are expected to range between Û3 and Û4,4 billion (higher for more ambitious liberalization scenarios), which amount to less than 0.1 percent of GDP. In the long run, the effects of an FTA in the EU are much smaller. For the Indian economy, the short-term income effects in absolute measure are similar to those in the EU, but due to differences in the size of economies, the relative effect is bigger in India (ranging from 0.1 to 0.3 percent of GDP). In the long-run, the effects on the Indian economy are expected to be larger.CGE, EU-India Free Trade Area, GTAP