Unemployment with Observable Aggregate Shocks

Consider an economy subject to two kinds of shocks: (a) an observable shock to the relative demand for final goods which causes dispersion in relative prices, and (b) shocks, unobservable by workers, to the technology for transforming intermediate goods into final goods. A worker in a particular intermediate goods industry knows that the unobserved price of his output is determined by (1) the technological shock that determines which final goods industry uses his output intensively and (2) the price of the final good that uses his output intensively. When there is very little relative price dispersion among final goods, then it doesn't matter which final goods industry uses the worker's output. Thus the technological shock is of very little importance in creating uncertainty about the worker's marginal product when there is little dispersion of relative prices. Hence an increase in the dispersion of relative prices amplifies the effect of technological uncertainty on a worker's marginal value product. We consider a model of optimal labor contracts in a situation where the workers have less information than the firm about their marginal value product. A relative price shock of the type described above increases the uncertainty which workers have about their marginal value product. We show that with an optimal asymmetric information employment contract the industries which are adversely affected by the relative price shock will contract more than they would under complete information (i.e., where workers could observe their marginal value product). On the other hand the industry which is favorably affected by the relative price shock will - not expand by more than would be the case under complete information. Hence an observed relative demand shock, which would leave aggregate employment unchanged under complete information, will cause aggregate employment to fall under asymmetric information about the technological shock.

Editorial: advances in understanding marine heatwaves and their impacts

© The Author(s), 2020. This article is distributed under the terms of the Creative Commons Attribution License. The definitive version was published in Benthuysen, J. A., Oliver, E. C. J., Chen, K., & Wernberg, T. Editorial: advances in understanding marine heatwaves and their impacts. Frontiers in Marine Science, 7, (2020): 147, doi:10.3389/fmars.2020.00147.Editorial on the Research Topic Advances in Understanding Marine Heatwaves and Their Impacts In recent years, prolonged, extremely warm water events, known as marine heatwaves, have featured prominently around the globe with their disruptive consequences for marine ecosystems. Over the past decade, marine heatwaves have occurred from the open ocean to marginal seas and coastal regions, including the unprecedented 2011 Western Australia marine heatwave (Ningaloo Niño) in the eastern Indian Ocean (e.g., Pearce et al., 2011), the 2012 northwest Atlantic marine heatwave (Chen et al., 2014), the 2012 and 2015 Mediterranean Sea marine heatwaves (Darmaraki et al., 2019), the 2013/14 western South Atlantic (Rodrigues et al., 2019) and 2017 southwestern Atlantic marine heatwave (Manta et al., 2018), the persistent 2014–2016 “Blob” in the North Pacific (Bond et al., 2015; Di Lorenzo and Mantua, 2016), the 2015/16 marine heatwave spanning the southeastern tropical Indian Ocean to the Coral Sea (Benthuysen et al., 2018), and the Tasman Sea marine heatwaves in 2015/16 (Oliver et al., 2017) and 2017/18 (Salinger et al., 2019). These events have set new records for marine heatwave intensity, the temperature anomaly exceeding a climatology, and duration, the sustained period of extreme temperatures. We have witnessed the profound consequences of these thermal disturbances from acute changes to marine life to enduring impacts on species, populations, and communities (Smale et al., 2019). These marine heatwaves have spurred a diversity of research spanning the methodology of identifying and quantifying the events (e.g., Hobday et al., 2016) and their historical trends (Oliver et al., 2018), understanding their physical mechanisms and relationships with climate modes (e.g., Holbrook et al., 2019), climate projections (Frölicher et al., 2018), and understanding the biological impacts for organisms and ecosystem function and services (e.g., Smale et al., 2019). By using sea surface temperature percentiles, temperature anomalies can be quantified based on their local variability and account for the broad range of temperature regimes in different marine environments. For temperatures exceeding a 90th-percentile threshold beyond a period of 5-days, marine heatwaves can be classified into categories based on their intensity (Hobday et al., 2018). While these recent advances have provided the framework for understanding key aspects of marine heatwaves, a challenge lies ahead for effective integration of physical and biological knowledge for prediction of marine heatwaves and their ecological impacts. This Research Topic is motivated by the need to understand the mechanisms for how marine heatwaves develop and the biological responses to thermal stress events. This Research Topic is a collection of 18 research articles and three review articles aimed at advancing our knowledge of marine heatwaves within four themes. These themes include methods for detecting marine heatwaves, understanding their physical mechanisms, seasonal forecasting and climate projections, and ecological impacts.We thank the contributing authors, reviewers, and the editorial staff at Frontiers in Marine Science for their support in producing this issue. We thank the Marine Heatwaves Working Group (http://www.marineheatwaves.org/) for inspiration and discussions. This special issue stemmed from the session on Advances in Understanding Marine Heat Waves and Their Impacts at the 2018 Ocean Sciences meeting (Portland, USA)

Bifunctional catalytic electrode

The present invention relates to an oxygen electrode for a unitized regenerative hydrogen-oxygen fuel cell and the unitized regenerative fuel cell having the oxygen electrode. The oxygen electrode contains components electrocatalytically active for the evolution of oxygen from water and the reduction of oxygen to water, and has a structure that supports the flow of both water and gases between the catalytically active surface and a flow field or electrode chamber for bulk flow of the fluids. The electrode has an electrocatalyst layer and a diffusion backing layer interspersed with hydrophilic and hydrophobic regions. The diffusion backing layer consists of a metal core having gas diffusion structures bonded to the metal core

Knot Fertility and Lineage

In this paper, we introduce a new type of relation between knots called the descendant relation. One knot $H$ is a descendant of another knot $K$ if $H$ can be obtained from a minimal crossing diagram of $K$ by some number of crossing changes. We explore properties of the descendant relation and study how certain knots are related, paying particular attention to those knots, called fertile knots, that have a large number of descendants. Furthermore, we provide computational data related to various notions of knot fertility and propose several open questions for future exploration.Comment: 20 pages, 11 figures, 14 table

Proximal mediation analysis

A common concern when trying to draw causal inferences from observational data is that the measured covariates are insufficiently rich to account for all sources of confounding. In practice, many of the covariates may only be proxies of the latent confounding mechanism. Recent work has shown that in certain settings where the standard 'no unmeasured confounding' assumption fails, proxy variables can be leveraged to identify causal effects. Results currently exist for the total causal effect of an intervention, but little consideration has been given to learning about the direct or indirect pathways of the effect through a mediator variable. In this work, we describe three separate proximal identification results for natural direct and indirect effects in the presence of unmeasured confounding. We then develop a semiparametric framework for inference on natural (in)direct effects, which leads us to locally efficient, multiply robust estimators.Comment: 60 pages, 3 figure

Unemployment with Observable Aggregate Shocks

A general equilibrium model of' optimal employment contracts is developed where firms have better information about labor's marginal product than workers. It is optimal for the wage to be tied to the level of employment, to prevent the firm from falsely stating that the marginal product is low and cutting the wage. It is shown that an observed aggregate shock that leads to an interindustry shift in labor demand and that would have no effect on total employment under symmetric information leads to a reduction in employment when firms and workers have asymmetric information.Economic

Predicting Rising Follower Counts on Twitter Using Profile Information

When evaluating the cause of one's popularity on Twitter, one thing is considered to be the main driver: Many tweets. There is debate about the kind of tweet one should publish, but little beyond tweets. Of particular interest is the information provided by each Twitter user's profile page. One of the features are the given names on those profiles. Studies on psychology and economics identified correlations of the first name to, e.g., one's school marks or chances of getting a job interview in the US. Therefore, we are interested in the influence of those profile information on the follower count. We addressed this question by analyzing the profiles of about 6 Million Twitter users. All profiles are separated into three groups: Users that have a first name, English words, or neither of both in their name field. The assumption is that names and words influence the discoverability of a user and subsequently his/her follower count. We propose a classifier that labels users who will increase their follower count within a month by applying different models based on the user's group. The classifiers are evaluated with the area under the receiver operator curve score and achieves a score above 0.800.Comment: 10 pages, 3 figures, 8 tables, WebSci '17, June 25--28, 2017, Troy, NY, US

Drivers of marine heatwaves in the Northwest Atlantic: the role of air-sea interaction during onset and decline

© The Author(s), 2021. This article is distributed under the terms of the Creative Commons Attribution License. The definitive version was published in Schlegel, R. W., Oliver, E. C. J., & Chen, K. Drivers of marine heatwaves in the Northwest Atlantic: the role of air-sea interaction during onset and decline. Frontiers in Marine Science, 8, (2021): 627970, https://doi.org/10.3389/fmars.2021.627970Marine heatwaves (MHWs) are increasing in duration and intensity at a global scale and are projected to continue to increase due to the anthropogenic warming of the climate. Because MHWs may have drastic impacts on fisheries and other marine goods and services, there is a growing interest in understanding the predictability and developing practical predictions of these events. A necessary step toward prediction is to develop a better understanding of the drivers and processes responsible for the development of MHWs. Prior research has shown that air–sea heat flux and ocean advection across sharp thermal gradients are common physical processes governing these anomalous events. In this study we apply various statistical analyses and employ the self-organizing map (SOM) technique to determine specifically which of the many candidate physical processes, informed by a theoretical mixed-layer heat budget, have the most pronounced effect on the onset and/or decline of MHWs on the Northwest Atlantic continental shelf. It was found that latent heat flux is the most common driver of the onset of MHWs. Mixed layer depth (MLD) also strongly modulates the onset of MHWs. During the decay of MHWs, atmospheric forcing does not explain the evolution of the MHWs well, suggesting that oceanic processes are important in the decay of MHWs. The SOM analysis revealed three primary synoptic scale patterns during MHWs: low-pressure cyclonic Autumn-Winter systems, high-pressure anti-cyclonic Spring-Summer blocking, and mild but long-lasting Summer blocking. Our results show that nearly half of past MHWs on the Northwest Atlantic shelf are initiated by positive heat flux anomaly into the ocean, but less than one fifth of MHWs decay due to this process, suggesting that oceanic processes, e.g., advection and mixing are the primary driver for the decay of most MHWs.RS was supported by the Ocean Frontier Institute International Postdoctoral Fellowship hosted jointly by Dalhousie University and Woods Hole Oceanographic Institution, through an award from the Canada First Research Excellence Fund. EO was funded through the National Sciences and Engineering Research Council of Canada Discovery Grant RGPIN-2018-05255 and Marine Environmental Observation, Prediction, and Response Network Early Career Faculty Grant 1-02-02-059.1. KC was supported by National Oceanic and Atmospheric Administration Climate Program Office Modeling, Analysis, Predictions, and Projections (MAPP) program under grant NA19OAR4320074 and Climate Variability and Predictability (CVP) program under grant NA20OAR4310398

Effect of diet and absence of protozoa on the rumen microbial community and on the representativeness of bacterial fractions used in the determination of microbial protein synthesis

Accurate estimates of microbial synthesis in the rumen are vital to optimize ruminant nutrition. Liquid- (LAB) and solid-associated bacterial fractions (SAB) harvested from the rumen are generally considered as microbial references when microbial yield is calculated; however, factors that determine their composition are not completely understood. The aim of this study was to evaluate the effect of diet and absence or presence of rumen protozoa on the rumen microbial community. It was hypothesized that these treatments could modify the composition and representativeness of LAB and SAB. Twenty twin lambs (Ovis aries) were used; one-half of the twins were kept protozoa-free, and each respective twin sibling was faunated. At 6 mo of age, 5 animals from each group were randomly allocated to the experimental diets consisting of either alfalfa hay as the sole diet, or 50:50 mixed with ground barley grain. After 15 d of adaptation to the diet, animals were euthanized, rumen and abomasum contents were sampled, and LAB and SAB isolated. The presence of protozoa buffered the effect of diet on the rumen bacterial population. Faunated animals fed alfalfa hay had a greater abundance of F. succinogenes, anaerobic fungi and methanogens, as well as an enhanced rumen bacterial diversity. Cellulolytic bacteria were more abundant in SAB, whereas the abomasal abundance of most of the microorganisms studied was closer to those values observed in LAB. Rumen and abomasal samples showed similar bacterial DNA concentrations, but the fungal and protozoal DNA concentration in the abomasum was only 69% and 13% of that observed in the rumen, respectively, suggesting fungal and protozoal sequestration in the rumen or possible preferential degradation of fungal and protozoal DNA in the abomasum, or both. In conclusion, absence of protozoa and type of diet extensively modifi ed the chemical composition of LAB and SAB as a consequence of changes in the microbial composition of these fractions