Efficient Labor Force Participation with Search and Bargaining

A fixed wage is inefficient in a standard search model when workers endogenously separate from employment. We derive an efficient employment contract that involves agents paying a hiring fee (or bond) upon the formation of a match. We estimate the fixed wage and efficient contract assuming the hiring fee is unobservable, and find evidence to reject the efficient contract in favor of the fixed wage rule. A counterfactual experiment reveals the current level of labor force participation to be 9% below the efficient level, and a structural shift to the efficient contract improves welfare by nearly 4%.labor supply, unemployment, matching, efficiency wages

User's manual for PRESTO: A computer code for the performance of regenerative steam turbine cycles

Standard turbine cycles for baseload power plants and cycles with such additional features as process steam extraction and induction and feedwater heating by external heat sources may be modeled. Peaking and high back pressure cycles are also included. The code's methodology is to use the expansion line efficiencies, exhaust loss, leakages, mechanical losses, and generator losses to calculate the heat rate and generator output. A general description of the code is given as well as the instructions for input data preparation. Appended are two complete example cases

The measurement of velocity gradients in laminar flow by homodyne light-scattering spectroscopy

A technique for measuring velocity gradients in laminar flows by homodyne light scattering is presented. A theory which describes the light-scattering spectrum is derived that includes the effects of different types of linear flow fields, particle diffusion and the intensity profile in the scattering volume. The conditions which must be satisfied in order that the theory describe the experimental situation are outlined and complementary experiments are performed which both verify the theory and apply the technique. Verification is provided using the flow in a Couette device, and the flow due to single rotating cylinder in a large bath of fluid. The technique is then applied to measure the spatial variation of the shear rate in a four-roll mill

New roles for Fc receptors in neurodegeneration-the impact on immunotherapy for Alzheimer's disease

There are an estimated 18 million Alzheimer's disease (AD) sufferers worldwide and with no disease modifying treatment currently available, development of new therapies represents an enormous unmet clinical need. AD is characterized by episodic memory loss followed by severe cognitive decline and is associated with many neuropathological changes. AD is characterized by deposits of amyloid beta (A?), neurofibrillary tangles, and neuroinflammation. Active immunization or passive immunization against A? leads to the clearance of deposits in transgenic mice expressing human A?. This clearance is associated with reversal of associated cognitive deficits, but these results have not translated to humans, with both active and passive immunotherapy failing to improve memory loss. One explanation for these observations is that certain anti-A? antibodies mediate damage to the cerebral vasculature limiting the top dose and potentially reducing efficacy. Fc gamma receptors (Fc?R) are a family of immunoglobulin-like receptors which bind to the Fc portion of IgG, and mediate the response of effector cells to immune complexes. Data from both mouse and human studies suggest that cross-linking Fc?R by therapeutic antibodies and the subsequent pro-inflammatory response mediates the vascular side effects seen following immunotherapy. Increasing evidence is emerging that Fc?R expression on CNS resident cells, including microglia and neurons, is increased during aging and functionally involved in the pathogenesis of age-related neurodegenerative diseases. Therefore, we propose that increased expression and ligation of Fc?R in the CNS, either by endogenous IgG or therapeutic antibodies, has the potential to induce vascular damage and exacerbate neurodegeneration. To produce safe and effective immunotherapies for AD and other neurodegenerative diseases it will be vital to understand the role of Fc?R in the healthy and diseased brain. Here we review the literature on Fc?R expression, function and proposed roles in multiple age-related neurological diseases. Lessons can be learnt from therapeutic antibodies used for the treatment of cancer where antibodies have been engineered for optimal efficacy

A new HCN maser in IRAS 15082-4808

We have identified a new vibrational HCN maser at 89.087 GHz in the asymptotic giant branch (AGB) star IRAS 15082-4808, a maser which is thought to trace the innermost region of an AGB envelope. The observations of this maser at three epochs are presented: two positive detections and one null detection. The line profile has varied between the positive detections, as has the intensity of the maser. The major component of the maser is found to be offset by -2.0+/-0.9 km/s with respect to the systemic velocity of the envelope, as derived from the 88.631 GHz transition of HCN. Similar blueshifts are measured in the other 9 sources where this maser has been detected. Maser variability with pulsation phase has been investigated for the first time using the 10 stars now available. Comparisons with AGB model atmospheres constrain the position of the formation region of the maser to the region between the pulsation shocks and the onset of dust acceleration, between 2 and 4 stellar radii.Comment: 11 pages, 10 figures, accepted MNRAS, minor correction to equation