Evaluating Explanations for Stagnation

In this paper, we evaluate four explanations for economic stagnation that have been proposed in the literature: coordination failures, ineffective mix of occupational choices, insufficient human capital accumulation, and politico-economic considerations. We calibrate models that embody these explanations in the context of the stagnant economies of sub-Saharan Africa. The methodology of calibration is ideally suited for this evaluation, given the paucity of high-quality data, the high degree of model nonlinearity, and the need for conducting counterfactual policy experiments. In addition to studying how closely and robustly these models capture the African situation, we examine the quantitative aspects of their policy implications. We find that calibrations that yield multiple equilibria -- one prosperity and the other stagnation -- are not particularly robust. This tempers optimism about the efficacy of one-shot or temporary development policies suggested by models with multiplicity. However, the calibrated models indicate that small policy interventions are sufficient to trigger development in stagnant economies.Coordination failure, Occupational choice, Human capital accumulation, Political economy, Economic Development, Calibration.

Higher Education Subsidies and Heterogeneity, A Dynamic Analysis

In this paper, we develop a simple dynamic general equilibrium framework that can be used to study issues in higher education policy. The model features heterogeneity in income of parents and academic ability of students. Liquidity constraints create persistence in educational attainment even when ability is independently distributed. A unique steady state with a positive fraction of college educated workers, or one with a development trap, or multiple steady states which feature both of these, can result in equilibrium. We add a government that is equipped with a simple tax scheme and calibrate the model to the US economy to get a benchmark for our policy analysis. The government can design a tax and subsidy scheme that guarantees equality of opportunity, but only at the expense of a decrease in the efficiency of utilization of education resources; the welfare gain is minimal. A policy that aims to maximize the fraction of college-educated labor, by sending as many children as possible to college, results in a big drop in the above-mentioned efficiency with little or no welfare gain. If the government has the political will to use any available signal on ability and provide merit-based aid, it can increase this efficiency with little decrease in welfare. Education subsidies may be a potent tool for countries that are caught in a development trap; a sufficient level of subsidy can cause the economy to emerge from the trap.Dynamic General Equilibrium, Education, College Subsidies

Education Policies to Revive a Stagnant Economy: The Case of Sub- Saharan Africa

In this paper, we argue that the condition of education and the economy of the low performing sub-Saharan African countries can be characterized as a stagnant steady state -- a "trap". We present a simple heterogeneous-agent model in which high costs of education relative to income and the skill premium can cause the economy to be trapped in such a steady state with minimal educational attainment. We calibrate the model to available data from the sub-Saharan African countries to study policies that could potentially free these trapped economies and set them on a path to a higher steady state. We find that a tax and subsidy scheme that redistributes resources at the trap from poor households with lower ability children to those with higher ability children can pry the economy out of the trap, thus freeing it from dependence on foreign aid in order to achieve the same goal. In addition to the direct cost, a portion of the indirect cost also needs to be subsidized. Moreover, such a policy outperforms the abolition of child labor and the institution and enforcement of compulsory education laws when expenditure neutral welfare comparisons are made.Dynamic heterogeneous-agent models, Economic stagnation, Education subsidies, Calibration of a trap

Does the progressivity of taxes matter for economic growth?

A sizeable literature has argued that the growth effects of changes in flat rate taxes are small. In this paper, we investigate the relatively unexplored area of the growth effect of changes in the tax structure, in particular, in the progressivity of taxes. Considering such a tax reform seems empirically more relevant than considering changes in flat tax rates. We construct a general equilibrium model of endogenous growth in which there is heterogeneity in income and in the tax rates. We limit heterogeneity to two types, skilled and unskilled, and posit that the probability of staying or becoming skilled in the subsequent period depends positively on expenses on "teacher" time. In the production sector, we consider two sources of growth. In the first, growth arises as a purely external effect on account of production activities of skilled workers. In the second, a portion of the skilled workforce is used to work in research and other productivity enhancing activities and is compensated for it. Our analysis shows that changes in the progressivity of tax rates can have positive growth effects even in situations where changes in flat rate taxes have no effect. Experiments on a calibrated model indicate that the quantitative effects of moving to a flat rate system are economically significant. The assumption made about the engine of growth has an important effect on the impact of a change in progressivity. Quantitatively, welfare is unambiguously higher in a flat rate system when comparisons are made across balanced growth equilibria; however, when the costs of transition to the higher growth equilibrium is taken into account only the currently rich slightly prefer the flat rate system.Taxation ; Economic development

Container ecosystem based PaaS solution for Telco Cloud Analysis and Proposal

Telco over Cloud, Network Function Virtualization andSoftware Defined Networking are changing thetelecommunications industry landscape, morespecifically in the Telco Service Providers networkinfrastructure and systems, by introducing cloudcomputing, virtualization paradigms and softwareapproaches which are already in use and mature intraditional IT environments.This paper introduces the current telco cloud landscapeand latest developments. It subsequently proposes acontainer based telco app orchestration mechanism.The shift of the telco cloud landscape towardscontainers is imperative as the traditional VM basedNFV and SDN solutions are running into scalabilityand performance problems and have an impact ondelivery speed and efficient resource utilization.In the solution we have derived in our lab uses a clustercontainer orchestration mechanism using ApacheMesos. A custom framework is developed to handle theTelco specific (NFV) capabilities on top of thetraditional containers. This novel approach will helptelcos to provision tons of containers in a span of shortduration adhering to the QoS Requirements of theindustry

Expert opinion on the clinical use and benefits of liposomal iron in the treatment of anemia in Indian settings

Background: Several studies have reported the effectiveness and safety of liposomal iron in increasing hemoglobin levels and correcting anemia. However, there was a dearth of information regarding the prescription pattern of physicians regarding its use and advantages in the actual practice. The present survey-based study aims at gathering clinicians' perspectives regarding the clinical use and benefits of liposomal iron in the treatment of anemia in Indian settings. Methods: This cross-sectional study used a 19-item questionnaire to gather insights from specialists across different Indian settings regarding their perspectives on anemia and liposomal iron. Results: Out of 124 participants, 77% opined that liposomal iron was highly bioavailable, achieves much higher plasma iron concentration, and bypasses the extremely restrictive, normal intestinal barriers. Oral liposomal iron was preferred by 77% of clinicians for the rapid increase in hemoglobin level and 99% of clinicians reported improved patient compliance with liposomal iron therapy for anemia. According to 50% of clinicians, oral liposomal iron was effective in non-hemodialysis dependent chronic kidney diseases and 87% of clinicians reported that patients without CKD needed oral liposomal iron. Half of the respondents reported a significant increase in Hb with liposomal iron in both dialysis and non-dialysis patients. Conclusions: The survey participants reported that liposomal iron treatment for anemia was beneficial in treating both CKD and non-CKD patients. The survey findings have corroborated the advantages of liposomal iron for treating anemia such as increased bioavailability, rapid and effective increase in Hb level, better patient compliance and tolerability, decreased side effects, cost-effectiveness, and flexible dosing

Expert opinion on the clinical use of calcium and vitamin D supplements in osteoporosis in Indian settings

Background: Several clinical studies demonstrated that calcium intake decreases the risk of osteoporosis and osteoporotic fractures. However, understanding the prescription practice of calcium supplements employed in Indian contexts may help in improving patient management and developing evidence-based recommendations for optimizing the treatment. So, this study aimed to gather clinicians’ perspective regarding the use of calcium and vitamin D supplements for the management of osteoporosis in Indian settings. Methods: The current survey involved 17 questions pertaining to current feedback, clinical observations, and clinical experience of specialists on osteoporosis management and the use of calcium and vitamin D supplements. Results: According to 30%, 26%, 25%, and 19% of the experts, higher dietary sodium (salt) intake was generally associated with negative calcium balance and bone mineral loss, increased risk of fracture, decreased calcium excretion in the urine and decreased dietary calcium absorption. Calcium and vitamin D were recommended by 78% of the respondents for the management of osteoporosis. Approximately 72% of the respondents stated calcium aspartate anhydrous as the preferred calcium supplement to manage osteoporosis. Around 49% of the respondents reported a reduced risk of bone fractures among those who consume more calcium than the average amount. Further 48%, 30%, and 25% of the respondents indicated that calcium aspartate anhydrous have better absorption, better bioavailability, and better gastrointestinal tolerability. Conclusions: According to the expert’s opinion, both calcium and vitamin D administration in conjunction with maintaining a balanced sodium intake were recommended for managing osteoporosis.

Incentive Stackelberg Mean-payoff Games

We introduce and study incentive equilibria for multi-player meanpayoff games. Incentive equilibria generalise well-studied solution concepts such as Nash equilibria and leader equilibria (also known as Stackelberg equilibria). Recall that a strategy profile is a Nash equilibrium if no player can improve his payoff by changing his strategy unilaterally. In the setting of incentive and leader equilibria, there is a distinguished player called the leader who can assign strategies to all other players, referred to as her followers. A strategy profile is a leader strategy profile if no player, except for the leader, can improve his payoff by changing his strategy unilaterally, and a leader equilibrium is a leader strategy profile with a maximal return for the leader. In the proposed case of incentive equilibria, the leader can additionally influence the behaviour of her followers by transferring parts of her payoff to her followers. The ability to incentivise her followers provides the leader with more freedom in selecting strategy profiles, and we show that this can indeed improve the payoff for the leader in such games. The key fundamental result of the paper is the existence of incentive equilibria in mean-payoff games. We further show that the decision problem related to constructing incentive equilibria is NP-complete. On a positive note, we show that, when the number of players is fixed, the complexity of the problem falls in the same class as two-player mean-payoff games. We also present an implementation of the proposed algorithms, and discuss experimental results that demonstrate the feasibility of the analysis of medium sized games.Comment: 15 pages, references, appendix, 5 figure