The Speed of Convergence in a Two-Sector Growth Model with Health Capital

In this paper we will show that for empirically plausible parameter values, a two-sector growth model contained health capital can yield a slow speed adjustment process. Calibrating the model, we demonstrate that in the case of a capital deepening externality in the health sector has relatively weak impact on additional health capital production and income tax rates which finance public health expenditure are at realistically reasonable levels, a slower speed of convergence occurs. Such slower adjustment process is consistent with the standard empirics on convergence. Consequently, we stress the good harmonization between a calibration-based theoretical prediction and the corresponding evidence.Capital deepening externality, Health capital accumulation, Speed of convergence

Non-separable utility, wealth effects, and economic growth in a monetary economy

This paper investigates the effects of wealth-enhanced social status using an optimizing monetary growth model with non-separable utility function between consumption and wealth. Within this framework, we first arrive a conclusion that, in the case of no wealth effects, an increase in the rate of money growth does not stimulate the steady-state growth rate. Moreover, in the case of existing wealth effects, we show that an increase in the rate of money growth has a negative effect on the long-run growth rate of the economy. This result is in sharp contrast with the typical conclusion of the relevant field.AK model

Tax financed government health expenditure and growth with capital deepening externality

This paper develops a two-sector endogenous growth model with health capital and examines the impact tax financed health expenditure has on long-run growth. In this model, health capital is accumulated through government spending as a flow channel and a capital deepening externality as a stock channel. When arguing about the problem of growth maximizing flat tax, the latter channel plays a significant role for determining tax rate.

Resource Augmenting Technological Progress and Sustainable Development?

This paper constructs a three-sector growth model with non-renewable environmental resource and a resource augmenting technological progress, and investigates the relation between the sustainability of resource use and growth of the nations. When the resource augmenting technological progress arises, it is shown that, if the agent is patient, then resource extraction is reduced. We can also prove that, in the opposite preference case, resource use is promoted. These results present a significant policy implication for environmental conservation.Non-renewable resource, Resource augmenting technological progress, Sustainable development

Health, Longevity, and the Productivity Slowdown

In this paper, we develop an endogenous growth model that integrates skill driven technological change, human capital accumulation through formal schooling, with health capital accumulation. The relationships among economic growth, average health level, labor allocation, and longevity of the population are investigated. Within this framework, the present model shows that the improved public health environment is indispensable for sustainable development. The better growth situation only appears when an economy has a higher level of public health as a social basis. Therefore, a healthy body, which is sustained by the improved public health environment and individual's health investment, becomes a necessary condition for long-term development. Moreover, we apply a model part to the explanation of productivity slowdown in Western economies. First, it is theoretically shown that the productivity slowdown has a possibility to occur with aging of the population. In this connection, our conjecture that the slowdown is caused by aging phenomenon through rises in longevity is investigated by the simple econometric tests. Within the narrow limits of our studies, as for the phenomena of continuously slowdown in advanced economies, the possibility to be the inevitable ones is indicated.Skill driven technological change, Health capital, Human capital, Aging, Productivity slowdown, Longevity

RSV replication is attenuated by counteracting expression of the suppressor of cytokine signaling (SOCS) molecules

AbstractHuman RSV causes an annual epidemic of respiratory tract illness in infants and in elderly. Mechanisms by which RSV antagonizes IFN-mediated antiviral responses include inhibition of type I IFN mRNA transcription and blocking signal transduction of JAK/STAT family members. The suppressor of cytokines signaling (SOCS) gene family utilizes a feedback loop to inhibit cytokine responses and block the activation of the JAK/STAT signaling pathway. To evaluate the potential of SOCS molecules to subvert the innate immune response to RSV infection, eight SOCS family genes were examined. RSV infection up-regulated SOCS1, SOCS3, and CIS mRNA expression in HEp-2 cells. Suppression of SOCS1, SOCS3 and CIS by short interfering ribonucleic acid (siRNA) inhibited viral replication. Furthermore, inhibition of SOCS1, SOCS3, or CIS activated type I IFN signaling by inducing STAT1/2 phosphorylation. These results suggest that RSV infection escapes the innate antiviral response by inducing SOCS1, SOCS3 or CIS expression in epithelial cells

Endogenous time preference and infrastructure‑led growth with an unexpected numerical example

This paper shows the construction of a growth model that includes public infrastruc ture and a related externality and investigates the dynamic properties of the model for a specifc endogenous time preference function. After suggesting a saddle-path stability for long-term equilibrium under an endogenous time preference, numerical analysis of the model then reveals an unexpected relation between the strength of the externality, the magnitude of the rate of time preference, and the growth rate of the economy. In addition, it is found that multiple equilibria are unlikely to be supported empirically by the model in this paperinfo:eu-repo/semantics/publishedVersio