Money and Taxes: The Relationship Between Financial Sector Development and Taxation

Requiring taxes to be paid in domestic money provides a legal tender basis for money demand and hence to the development of a financial system. In emerging markets, the level of taxation is a positive factor boosting financial development. At higher tax rates, however, taxation provides an incentive to reduce money demand and reduces the size of the financial sector. There is also evidence of re-switching in high-tax developed countries, where financial deepening increases with the tax rate. Such financial deepening represents a form of capital market repression, not unlike the growth-depressing effects of financial repression in many poor countries.Taxation; financial development; money demand; money multiplier; emerging markets

Robustness of Network Measures to Link Errors

In various applications involving complex networks, network measures are employed to assess the relative importance of network nodes. However, the robustness of such measures in the presence of link inaccuracies has not been well characterized. Here we present two simple stochastic models of false and missing links and study the effect of link errors on three commonly used node centrality measures: degree centrality, betweenness centrality, and dynamical importance. We perform numerical simulations to assess robustness of these three centrality measures. We also develop an analytical theory, which we compare with our simulations, obtaining very good agreement.Comment: 9 pages, 9 figure

A perspective on the economics of natural gas decontrol

Natural gas ; Natural resources ; Energy policy

Synthesis Imaging of Dense Molecular Gas in the N113 HII Region of the Large Magellanic Cloud

We present aperture synthesis imaging of dense molecular gas in the Large Magellanic Cloud, taken with the prototype millimeter receivers of the Australia Telescope Compact Array (ATCA). Our observations of the N113 HII region reveal a condensation with a size of ~6" (1.5 pc) FWHM, detected strongly in the 1-0 lines of HCO+, HCN and HNC, and weakly in C_2H. Comparison of the ATCA observations with single-dish maps from the Mopra Telescope and sensitive spectra from the Swedish-ESO Submillimetre Telescope indicates that the condensation is a massive clump of ~10^4 solar masses within a larger ~10^5 solar mass molecular cloud. The clump is centered adjacent to a compact, obscured HII region which is part of a linear structure of radio continuum sources extending across the molecular cloud. We suggest that the clump represents a possible site for triggered star formation. Examining the integrated line intensities as a function of interferometer baseline length, we find evidence for decreasing HCO+/HCN and HCN/HNC ratios on longer baselines. These trends are consistent with a significant component of the HCO+ emission arising in an extended clump envelope and a lower HCN/HNC abundance ratio in dense cores.Comment: 10 pages, 6 figures, to appear in Ap

Green Arrow vs. Hawkeye

It was during the twentieth annual Secre

Abstinence and abstinence-only education

PURPOSE OF REVIEW: To review recent literature on medical accuracy, program effectiveness, and ethical concerns related to abstinence-only policies for adolescent sexuality education. RECENT FINDINGS: The federal government invests over 175 million dollars annually in 'abstinence-only-until-marriage' programs. These programs are required to withhold information on contraception and condom use, except for information on failure rates. Abstinence-only curricula have been found to contain scientifically inaccurate information, distorting data on topics such as condom efficacy, and promote gender stereotypes. An independent evaluation of the federal program, several systematic reviews, and cohort data from population-based surveys find little evidence of efficacy and evidence of possible harm. In contrast, comprehensive sexuality education programs have been found to help teens delay initiation of intercourse and reduce sexual risk behaviors. Abstinence-only policies violate the human rights of adolescents because they withhold potentially life-saving information on HIV and other sexually transmitted infections. SUMMARY: Federal support of abstinence-only as an approach to adolescent sexuality education is of much concern due to medical inaccuracies, lack of effectiveness, and the withholding and distorting of health information

Transcriptional programs: modelling higher order structure in transcriptional control.

BACKGROUND: Transcriptional regulation is an important part of regulatory control in eukaryotes. Even if binding motifs for transcription factors are known, the task of finding binding sites by scanning sequences is plagued by false positives. One way to improve the detection of binding sites from motifs is by taking cooperativity of transcription factor binding into account. We propose a non-parametric probabilistic model, similar to a document topic model, for detecting transcriptional programs, groups of cooperative transcription factors and co-regulated genes. The analysis results in transcriptional programs which generalise both transcriptional modules and TF-target gene incidence matrices and provide a higher-level summary of these structures. The method is independent of prior specification of training sets of genes, for example, via gene expression data. The analysis is based on known binding motifs. RESULTS: We applied our method to putative regulatory regions of 18,445 Mus musculus genes. We discovered just 68 transcriptional programs that effectively summarised the action of 149 transcription factors on these genes. Several of these programs were significantly enriched for known biological processes and signalling pathways. One transcriptional program has a significant overlap with a reference set of cell cycle specific transcription factors. CONCLUSION: Our method is able to pick out higher order structure from noisy sequence analyses. The transcriptional programs it identifies potentially represent common mechanisms of regulatory control across the genome. It simultaneously predicts which genes are co-regulated and which sets of transcription factors cooperate to achieve this co-regulation. The programs we discovered enable biologists to choose new genes and transcription factors to study in specific transcriptional regulatory systems.RIGHTS : This article is licensed under the BioMed Central licence at http://www.biomedcentral.com/about/license which is similar to the 'Creative Commons Attribution Licence'. In brief you may : copy, distribute, and display the work; make derivative works; or make commercial use of the work - under the following conditions: the original author must be given credit; for any reuse or distribution, it must be made clear to others what the license terms of this work are