Capital Tax Competition and Returns to Scale

There is a gap between the predictions of capital tax competition models and the reality they purport to describe. In a standard capital-tax model, with head taxes, capital-importing regions tax capital and capital-exporting regions subsidize capital. In the real-world, competing regions appear to subsidize capital whether or not they are capital importers. We show that by relaxing the standard assumption of constant returns to scale symmetric regions in a Nash equilibrium may all subsidize capital.We also prove that any ine¢ciencies in a non-symmetric Nash equilibria arise entirely from regions’ incentives to manipulate the terms of trade, and not from increasing returns.We also compare our results to those in captial tax competition models without head taxes.

Spatial effects upon employment outcomes: the case of New Jersey teenagers

Employment (Economic theory) ; Econometric models ; Income distribution ; New Jersey

The M2 slowdown and depository intermediation: implications for monetary policy

An examination of credit flow rechanneling away from depository institutions over the past decade in response to evolving financial markets and regulatory structure, and a discussion of how this trend has complicated monetary policymaking.Money supply ; Monetary policy

Filamentary Star Formation: Observing the Evolution toward Flattened Envelopes

Filamentary structures are ubiquitous from large-scale molecular clouds (few parsecs) to small-scale circumstellar envelopes around Class 0 sources (~1000 AU to ~0.1 pc). In particular, recent observations with the Herschel Space Observatory emphasize the importance of large-scale filaments (few parsecs) and star formation. The small-scale flattened envelopes around Class 0 sources are reminiscent of the large-scale filaments. We propose an observationally derived scenario for filamentary star formation that describes the evolution of filaments as part of the process for formation of cores and circumstellar envelopes. If such a scenario is correct, small-scale filamentary structures (0.1 pc in length) with higher densities embedded in starless cores should exist, although to date almost all the interferometers have failed to observe such structures. We perform synthetic observations of filaments at the prestellar stage by modeling the known Class 0 flattened envelope in L1157 using both the Combined Array for Research in Millimeter-wave Astronomy (CARMA) and the Atacama Large Millimeter/Submillimeter Array (ALMA). We show that with reasonable estimates for the column density through the flattened envelope, the CARMA D-array at 3mm wavelengths is not able to detect such filamentary structure, so previous studies would not have detected them. However, the substructures may be detected with CARMA D+E array at 3 mm and CARMA E array at 1 mm as a result of more appropriate resolution and sensitivity. ALMA is also capable of detecting the substructures and showing the structures in detail compared to the CARMA results with its unprecedented sensitivity. Such detection will confirm the new proposed paradigm of non-spherical star formation.Comment: 9 pages, 10 figures. Accepted by Ap

Mental Accounting and Small Windfalls: Evidence from an Online Grocer

We study the effect of small windfalls on consumer spending decisions by comparing the purchases online grocery customers make when redeeming $10-off coupons with the purchases they make without coupons. Controlling for customer fixed effects and other variables, we find that grocery spending increases by$1.59 when a $10-off coupon is redeemed. The extra spending associated with coupon redemption is focused on groceries that a customer does not typically buy. These results are consistent with the theory of mental accounting but are not consistent with the standard permanent income or lifecycle theory of consumption. While the hypotheses we test are motivated by mental accounting, we also discuss some alternative psychological explanations for our findings.

East-West Trade Regulation in the United States (1974 Trade Act, Title IV)

The Orchard Sports Injury Classification System (OSICS) is one of the world’s most commonly used systems for coding injury diagnoses in sports injury surveillance systems. Its major strengths are that it has wide usage, has codes specific to sports medicine and that it is free to use. Literature searches and stakeholder consultations were made to assess the uptake of OSICS and to develop new versions. OSICS was commonly used in the sports of football (soccer), Australian football, rugby union, cricket and tennis. It is referenced in international papers in three sports and used in four commercially available computerised injury management systems. Suggested injury categories for the major sports are presented. New versions OSICS 9 (three digit codes) and OSICS 10.1 (four digit codes) are presented. OSICS is a potentially helpful component of a comprehensive sports injury surveillance system, but many other components are required. Choices made in developing these components should ideally be agreed upon by groups of researchers in consensus statements

Prevalence of Asthma Severities in Children and Adolescents in a Wilmington, DE Hospital

Asthma affects over 24 million individuals in the US and the prevalence of the condition is increasing in the US and worldwide. The prevalence of severe persistent asthma, which incurs a significant health and economic burden, is still poorly understood in children and adolescents. We aimed to define the prevalence of asthma severities in children and adolescents in an urban hospital setting as a function of age, sex, race, and ethnicity by assessing prescribed medications as a proxy for asthma severity according to NIH guidelines for care. We found that a plurality of patients across all age groups, sexes, races, and ethnicities were severe persistent asthmatics. We also found that younger individuals as well as those who are African American have higher odds of being moderate to severe asthmatics. This information can be used to generate hypotheses for future studies and can be used to better address patient needs. In addition, these results suggest that a health disparity among African Americans exists that is consistent with other aspects of the condition. To reduce the prevalence of asthma in all populations, future research should place a greater emphasis on identifying more indicative risk factors for prevention, finding strategies to identify asthma at an earlier age, and developing more effective and personalized therapeutics

Predicting uncertainty and risk in the natural sciences: bridging the gap between academics and industry

The increase in large-scale disasters in recent years, such as the 2007 floods in the UK, has caused disruptions of livelihood, enormous economic losses and increase in fatalities. Losses from natural hazards are only partially derived from the physical event itself but are also caused by society’s vulnerability to it. In the first three months of 2010, an unprecedented US$16 billion in losses occurred from natural hazards caused by events such as the Haiti and Chilean earthquakes, and the European storm Xynthia. This made it the worst ever first quarter for natural hazard losses and left the insurance industry exposed financially to the more loss-prone third and forth quarters. NERC science has a central role to play in the forecasting and mitigation of natural hazards. Research in this area forms the basis for technological solutions to early warning systems, designing mitigation strategies and providing critical information for decision makers to help save lives and avoid economic losses. Understanding uncertainty is essential if reliable forecasting and risk assessments are to be made. However, the quantification and assessment of uncertainty in natural hazards has in general been limited particularly in terms of model limitations and multiplicity. There are several reasons for this; most notably the fragmented nature of natural hazard research which is split both across science areas and between research, risk management and policy. Because of this, each sector has developed its own concepts and language which has acted as a barrier for effective communication and prevented the production of generic methods that have the potential to be used across sectors. It is clear therefore that by bringing the natural hazard community together significant breakthroughs in the visualisation and understanding of risk and uncertainty could be achieved. To accomplish this, this research programme has 4 prime objectives: 1.To improve communication and networking between researchers and risk managers within the financial services sector 2.To provide a platform for the dissemination of information on uncertainty and risk analysis between a range of researchers and practitioners 3.To generate a portfolio of best practice in uncertainty and risk analysis 4.To act as a focal point between the financial sector and natural hazard research in NERC This paper will discuss how the Natural Environmental Research Council, in partnership with other organisations such as TSB, EA and EPSRC etc, is working with academics and industry to bring about a step change in the way that uncertainty and risk assessments are achieved throughout the natural hazard community