Innovation and Growth with Financial, and Other, Frictions

The generation and implementation of ideas, or knowledge, is crucial for economic performance. We study this process in a model of endogenous growth with frictions. Productivity increases with knowledge, which advances via innovation, and with the exchange of ideas from those who generate them to those best able to implement them (technology transfer). But frictions in this market, including search, bargaining, and commitment problems, impede exchange and thus slow growth. We characterize optimal policies to subsidize research and trade in ideas, given both knowledge and search externalities. We discuss the roles of liquidity and financial institutions, and show two ways in which intermediation can enhance efficiency and innovation. First, intermediation allows us to finance more transactions with fewer assets. Second, it ameliorates certain bargaining problems, by allowing entrepreneurs to undo otherwise sunk investments in liquidity. We also discuss some evidence, suggesting that technology transfer is a significant source of innovation and showing how it is affected by credit considerations.Economic models; Potential output; Productivity

Innovation and growth with financial, and other, frictions

The generation and implementation of ideas, or knowledge, is crucial for economic performance. We study this process in a model of endogenous growth with frictions. Productivity increases with knowledge, which advances via innovation, and with the exchange of ideas from those who generate them to those best able to implement them (technology transfer). But frictions in this market, including search, bargaining, and commitment problems, impede exchange and thus slow growth. We characterize optimal policies to subsidize research and trade in ideas, given both knowledge and search externalities. We discuss the roles of liquidity and financial institutions, and show two ways in which intermediation can enhance efficiency and innovation. First, intermediation allows us to finance more transactions with fewer assets. Second, it ameliorates certain bargaining problems, by allowing entrepreneurs to undo otherwise sunk investments in liquidity. We also discuss some evidence, suggesting that technology transfer is a significant source of innovation and showing how it is affected by credit considerations.

Effects of hemoglobin-based oxygen carriers on blood coagulation.

For many decades, Hemoglobin-based oxygen carriers (HBOCs) have been central in the development of resuscitation agents that might provide oxygen delivery in addition to simple volume expansion. Since 80% of the world population lives in areas where fresh blood products are not available, the application of these new solutions may prove to be highly beneficial (Kim and Greenburg 2006). Many improvements have been made to earlier generation HBOCs, but various concerns still remain, including coagulopathy, nitric oxide scavenging, platelet interference and decreased calcium concentration secondary to volume expansion (Jahr et al. 2013). This review will summarize the current challenges faced in developing HBOCs that may be used clinically, in order to guide future research efforts in the field

An Index of Choral Music Performed During the National Conventions of the American Choral Directors Association (1991-2019)

The purpose of this study was to index and examine the repertoire of choirs selected to perform at the American Choral Directors Association (ACDA) National Conventions/Conferences between the years of 1991-2019. This is a replicated study of William Jones’s dissertation, An Index of Choral Music Performed during National Conventions of the American Choral Directors Association (1960-1987). The researcher accumulated and examined National Convention/Conference programs with the following objectives in mind: to investigate literature trends reflected in National Conventions/Conferences, and to provide choral conductors a guide through which they may gain an overview of literature performed on National Convention/Conference programs. The researcher provided tables listing the frequency of performance data. Additionally, the researcher provided an index of compositions performed sorted by title and composer/arranger

Cultural Factors in Implementing Communicative Language Teaching Methods with Karen English Language Learners

This study seeks to examine which aspects of Communicative Language Teaching adult Karen English language learners value and how they describe their experience of three typical CLT activities. The engagement of CLT methods with culture in general and Karen culture in particular is considered. Twelve Karen intermediate level participants completed a 25 question Karen-language values assessment, as well as three questionnaires based on communicative activities they experienced in their classroom. While participants indicated strong agreement with CLT values of collaborative and functional learning, they remain eager for a strong teacher role in the classroom and active error correction not emphasized in CLT. The findings of this study suggest that while CLT remains an effective and valuable instructional framework for these learners, consideration must be given to the cultural and teaching/learning values of learners to ensure effective learning and prevent cultural mismatch from unnecessarily demotivating learners

Working hours and common mental disorders in English police officers

Background: There is a paucity of evidence on working hours and their psychological correlates in police officers of the federated ranks in England. Aims: An exploratory study to establish the extent to which a sample of English police officers worked long hours and the association between long working hours and common mental disorder (CMD). Methods: Officers of the federated ranks (constable, sergeant, inspector) from two English county forces completed a questionnaire to report their typical weekly working hours and symptoms of CMD. We also collected socio- and occupational demographic data. We defined long working hours as ≥49 hours in a typical week in accordance with 48-hour weekly limit specified in the 1993 European Directive on the Organisation of Working Time. We established associations between long working hours and self-reported CMDs using binary logistic regression to generate ORs and 95% CIs adjusted for potential confounding variables. Results: 27% (N=327/1226) of respondents reported long working hours. The odds ratios for psychological distress (OR 2.05, 95% CI 1.57-2.68), emotional exhaustion (OR 1.99, 95% CI 1.52-2.59), and depersonalisation (OR 1.30, 95% CI 1.00-1.71) were significantly increased for long working hours after adjustment for socio- and occupational-demographic characteristics. Conclusions: More than one quarter of sampled police officers reported working long hours, and were significantly more likely to report CMD. National and longitudinal research is required to confirm these findings, which suggest management of working hours may effectively promote psychological wellbeing

A HIERARCHICAL BAYES APPROACH TO MODELING CHOICE DATA: A STUDY OF WETLAND RESTORATION PROGRAMS

This study examines the factors the influence the values and importance that landowners place on the attributes of voluntary wetland restoration programs. Choice-based conjoint analysis, a stated preference method, was used to estimate the marginal utilities and values for restoration program attributes for North Carolina landowners. Landowner preferences were estimated at individual and aggregate levels to examine the importance of modeling heterogeneous preferences. Choice modeling performed at both aggregate and individual levels demonstrated the information gains from a disaggregated approach.Research Methods/ Statistical Methods,