Who invests more in advanced abatement technology? Theory and evidence

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Regulation, Innovation, And Firm Selection: The Porter Hypothesis Revisited

Session ID 28: Natural Resource Markets and Environmental RegulationOrganized by the Industrial Organization SocietyThe Porter Hypothesis (PH) posits that well-designed environmental regulations can stimulate innovation, which may lead to efficiency gains or even profit increase for the regulated firms. Extant theoretical works examining the PH neglect two important aspects in their models and analyses: firm heterogeneity and general equilibrium. In this study, we revisit the PH by incorporating these two features in our model and analysis. We show that the PH holds for high-capability firms, but not for low-capability firms. Although heterogeneous responses exist in innovation investment, the average industry productivity increases

Who invest more in advanced abatement technology: theory and evidence

Parallel Sessions 9 - Technological Change and the Environment: TheoryThe Conference programme's website is located at http://www.webmeets.com/wcere/2014/prog/We study firm investment in abatement technology under a heterogeneous firm framework and find that abatement technology investment increases (decreases) as firm productivity increases if investment and productivity are complements (substitutes). Under linear demand, firms' abatement investments exhibit an inverted-U shape with respect to firms' productivity, which is in contrast to results in existing studies. In response to tightened environmental regulations, more-productive firms raise their respective investments in abatement technology, whereas less-productive firms do the opposite; Pollution emission intensity of a firm decreases with productivity level. The key theoretical predictions are confirmed by empirical tests using Chinese data.postprin

Entry, reputation and intellectual property rights enforcement

We examine how reputation concerns induce a multinational to partly withhold its entry into a developing country under weak intellectual property rights (IPR) enforcement. Equilibrium IPR violations are shown to arise only in the presence of such concerns. Holding constant a multinational's incentive to innovate, better IPR enforcement encourages entry but reduces social welfare. The multinational's incentive to innovate may be inversely U-shaped in the strength of IPR enforcement. If timed properly, however, stronger IPR enforcement can foster innovation without compromising social welfare. Testable implications concerning observable IPR violations are derived.postprin

Stability of Fe-oxide nanoparticles coated with natural organic matter under relevant environmental conditions

© IWA Publishing 2014 Manufactured nanoparticles (MNPs) are increasingly released into the environment and thus research on their fate and behaviour in complex environmental samples is urgently needed. The fate of MNPs in the aquatic environment will mainly depend on the physico-chemical characteristics of the medium. The presence and concentration of natural organic matter (NOM) will play a significant role on the stability of MNPs by either decreasing or exacerbating the aggregation phenomenon. In this study, we firstly investigated the effect of NOM concentration on the aggregation behaviour of manufactured Fe-oxide nanoparticles. Then, the stability of the coated nanoparticles was assessed under relevant environmental conditions. Flow field-flow fractionation, an emerging method which is gaining popularity in the field of nanotechnology, has been employed and results have been compared to another size-measurement technique to provide increased confidence in the outcomes. Results showed enhanced stability when the nanoparticles are coated with NOM, which was due to electrosteric stabilisation. However, the presence of divalent cations, even at low concentration (i.e. less than 1 mM) was found to induce aggregation of NOM-coated nanoparticles via bridging mechanisms between NOM and Ca2+

Biomimetic aquaporin membranes for osmotic membrane bioreactors: Membrane performance and contaminant removal

© 2017 Elsevier Ltd In this study, we investigated the performance of an osmotic membrane bioreactor (OMBR) enabled by a novel biomimetic aquaporin forward osmosis (FO) membrane. Membrane performance and removal of 30 trace organic contaminants (TrOCs) were examined. Results show that the aquaporin FO membrane had better transport properties in comparison with conventional cellulose triacetate and polyamide thin-film composite FO membranes. In particular, the aquaporin FO membrane exhibited much lower salt permeability and thus smaller reverse salt flux, resulting in a less severe salinity build-up in the bioreactor during OMBR operation. During OMBR operation, the aquaporin FO membrane well complemented biological treatment for stable and excellent contaminant removal. All 30 TrOCs selected here were removed by over 85% regardless of their diverse properties. Such high and stable contaminant removal over OMBR operation also indicates the stability and compatibility of the aquaporin FO membrane in combination with activated sludge treatment

The US stock market leads the Federal funds rate and Treasury bond yields

Using a recently introduced method to quantify the time varying lead-lag dependencies between pairs of economic time series (the thermal optimal path method), we test two fundamental tenets of the theory of fixed income: (i) the stock market variations and the yield changes should be anti-correlated; (ii) the change in central bank rates, as a proxy of the monetary policy of the central bank, should be a predictor of the future stock market direction. Using both monthly and weekly data, we found very similar lead-lag dependence between the S&P500 stock market index and the yields of bonds inside two groups: bond yields of short-term maturities (Federal funds rate (FFR), 3M, 6M, 1Y, 2Y, and 3Y) and bond yields of long-term maturities (5Y, 7Y, 10Y, and 20Y). In all cases, we observe the opposite of (i) and (ii). First, the stock market and yields move in the same direction. Second, the stock market leads the yields, including and especially the FFR. Moreover, we find that the short-term yields in the first group lead the long-term yields in the second group before the financial crisis that started mid-2007 and the inverse relationship holds afterwards. These results suggest that the Federal Reserve is increasingly mindful of the stock market behavior, seen at key to the recovery and health of the economy. Long-term investors seem also to have been more reactive and mindful of the signals provided by the financial stock markets than the Federal Reserve itself after the start of the financial crisis. The lead of the S&P500 stock market index over the bond yields of all maturities is confirmed by the traditional lagged cross-correlation analysis.Comment: 12 pages, 7 figures, 1 tabl

Occurrence and bioconcentration of micropollutants in Silver Perch (Bidyanus bidyanus) in a reclaimed water reservoir

© 2018 This study examined the occurrence of 49 micropollutants in reclaimed water and Silver Perch (Bidyanus bidyanus) living in a reclaimed water reservoir. The numbers of micropollutants detected in reclaimed water, Silver Perch liver, and Silver Perch flesh were 20, 23, and 19, respectively. Concentrations of all micropollutants in reclaimed water, except benzotriazole, were well below the Australian Guideline for Recycled Water (AGRW) values for potable purposes. The concentration of benzotriazole in reclaimed water was 675 ± 130 ng/L while the AGRW value for this compound was 7 ng/L. Not all micropollutants detected in the water phase were identified in the Silver Perch flesh and liver tissues. Likewise, not all micropollutants detected in the Silver Perch flesh and liver were identified in the reclaimed water. In general, micropollutant concentrations in the liver were higher than in the flesh. Perfluorooctane sulfonate (PFOS) was detected at a trace level in reclaimed water well below the AGRW guideline value for potable purposes, but showed a high and medium bioconcentration factor in Silver Perch liver and flesh, respectively. In addition, the risk quotient for PFOS was medium and high when considering its concentration in Silver Perch liver and flesh, respectively. Results reported here highlight the need to evaluate multiple parameters for a comprehensive risk assessment. The results also single out PFOS as a notable contaminant of concern for further investigation

Deciphering interplay between Salmonella invasion effectors

Bacterial pathogens have evolved a specialized type III secretion system (T3SS) to translocate virulence effector proteins directly into eukaryotic target cells. Salmonellae deploy effectors that trigger localized actin reorganization to force their own entry into non-phagocytic host cells. Six effectors (SipC, SipA, SopE/2, SopB, SptP) can individually manipulate actin dynamics at the plasma membrane, which acts as a ‘signaling hub’ during Salmonella invasion. The extent of crosstalk between these spatially coincident effectors remains unknown. Here we describe trans and cis binary entry effector interplay (BENEFIT) screens that systematically examine functional associations between effectors following their delivery into the host cell. The results reveal extensive ordered synergistic and antagonistic relationships and their relative potency, and illuminate an unexpectedly sophisticated signaling network evolved through longstanding pathogen–host interaction

Anaerobic membrane bioreactors for antibiotic wastewater treatment: Performance and membrane fouling issues

© 2018 Elsevier Ltd Antibiotic wastewater has become a major concern due to the toxicity and recalcitrance of antibiotics. Anaerobic membrane bioreactors (AnMBRs) are considered alternative technology for treating antibiotic wastewater because of their advantages over the conventional anaerobic processes and aerobic MBRs. However, membrane fouling remains the most challenging issue in the AnMBRs’ operation and this limits their application. This review critically discusses: (i) antibiotics removal and antibiotic resistance genes (ARGs) in different types of AnMBRs and the impact of antibiotics on membrane fouling and (ii) the integrated AnMBRs systems for fouling control and removal of antibiotics. The presence of antibiotics in AnMBRs could aggravate membrane fouling by influencing fouling-related factors (i.e., sludge particle size, extracellular polymeric substances (EPS), soluble microbial products (SMP), and fouling-related microbial communities). Conclusively, integrated AnMBR systems can be a practical technology for antibiotic wastewater treatment