Dynamic panel data estimation of an integrated Grossman and Becker-Murphy model of health and addiction

We propose a dynamic panel data approach to estimate a model that integrates the Becker-Murphy theory of rational addiction with the Grossman model of health investment. We define an individual’s lifetime smoking consumption and investments in health capital as simultaneous choices within a single optimisation problem. We show that this can be estimated using GMM system estimation of two stand-alone single fourth-order difference equations of health capital and smoking. These preserve roots and fundamental dynamics of the original system of four interrelated first-order equations. Monte Carlo simulations confirm that this reduced-form dynamic estimation also produces very similar estimates to the ones of the initial system of equations. We argue that, in the presence of long panel data, this approach may provide a feasible alternative for the estimation of a complex life-cycle model of human capital

Synthesis, Crystal-structure Determination and Pharmacological Activity of 7,8,3',4'-tetramethoxyisoflavone

The 7,8,3',4'-tetramethoxyisoflavone 2 was synthesized and its structure confirmed by X-ray crystallographic analysis. Pharmacological screening was carried out with this compound in order to assess its pharmacological profile. Isoflavone 2 possessed antiinflamatory activity in the carrageenan oedema test, with a dose-effect relationship comparable to that of hydroxylated flavonoids. It is noteworthy that 2 is one of the few isoflavones efficient as antiinflammatory with complete alkylation of hydroxyl groups

From income to consumption: measuring households partial insurance

Consumption, Income, Insurance, Inequality, D12, D91, I30,