Optimal accumulation in an endogenous growth setting with human capital

This paper considers a three-overlapping-generations model of endogeneous growth wherein human capital is the engine of growth. It first contrasts the ‘laissez-faire’ and the optimal solutions. Three possible accumulation regimes are distinguished. Then it discusses a standard set of tax-transfer instruments that allow for decentralization of the social optimum. Within the limits of our model, the rationale for the standard pattern of intergenerational transfers (the working-aged financing the education of the young and the pension of the old) is seriously questioned. On pure efficiency grounds, the case for generous public pensions is rather weak.Endogenous growth, human capital, intergenerational transfers

Analysing the Impact of Natural Hazards in Small Economies: The Caribbean Case

This paper analyses the impact of natural disasters in the Caribbean. The economic impact of natural disasters in the region has been significant, resulting in widespread destruction of the productive economy. This paper presents the main macroeconomic impact of disasters, e.g., a deteriorating fiscal balance, a collapse of growth and a worsening external balance, as a consequence of damage resulting from the event. By making special reference to the small-island developing state nature of many countries in the region, valuable lessons of the impact of such disasters on the capital stock can be learnt, particularly as the interruption of production of goods and services can be particularly devastating in an environment where few large sectors (agriculture, tourism) dominate the economic landscape.natural disasters, Caribbean, diversification, trade, environment

A novel bacteriophage cocktail reduces and disperses Pseudomonas aeruginosa biofilms under static and flow conditions

Pseudomonas aeruginosa is an opportunistic human pathogen that forms highly stable communities - biofilms, which contribute to the establishment and maintenance of infections. The biofilm state and intrinsic/acquired bacterial resistance mechanisms contribute to resistance/tolerance to antibiotics that is frequently observed in P. aeruginosa isolates. Here we describe the isolation and characterization of six novel lytic bacteriophages: viruses that infect bacteria, which together efficiently infect and kill a wide range of P. aeruginosa clinical isolates. The phages were used to formulate a cocktail with the potential to eliminate P. aeruginosa PAO1 planktonic cultures. Two biofilm models were studied, one static and one dynamic, and the phage cocktail was assessed for its ability to reduce and disperse the biofilm biomass. For the static model, after 4 h of contact with the phage suspension (MOI 10) more than 95% of biofilm biomass was eliminated. In the flow biofilm model, a slower rate of activity by the phage was observed, but 48 h after addition of the phage cocktail the biofilm was dispersed, with most cells eliminated (> 4 logs) comparing with the control. This cocktail has the potential for development as a therapeutic to control P. aeruginosa infections, which are predominantly biofilm centred

Social security in the english-speaking Caribbean

Includes bibliographyThis document was prepared by Oliver Paddison, Associate Economic Affairs Officer in the Economic Development Unit of the Economic Commission for Latin America and the Caribbean (ECLAC), Subregional Headquarters for the Caribbean. Prepared as a support to the document Shaping the Future of Social Protection: Access, Financing and Solidarity" presented in the XXXI ECLAC Session Period carried out in Montevideo, Uruguay during March, 20 to 24, 2006. The views expressed in this document, which has been reproduced without formal editing, are those of the author and do not necessarily reflect the views of the Organization. Abstract Over the last years issues concerning social security have become important items on the economic and political agenda, in particular as demographic projections threaten the financial sustainability of many social security schemes that are currently in place. Whilst the Caribbean has not been insulated from these developments, substantive reform of social security has yet to materialize in the region. One reason may be the fact that research on social security in the Caribbean is rather limited, providing decision makers with few answers on how to tackle the issue of reform in the region. This paper highlights the current status of social security in the region. By presenting indicators of recent performance and in particular by identifying challenges that schemes in the region face, the study aims to contribute to the discussion by providing relevant facts and suggesting ways forward.

La protección social en el Caribe de habla inglesa

Incluye BibliografíaVersión extendida en inglés, en otra fuente, ingresada en Biblioteca (103054)En los últimos años los asuntos relacionados con la protección social, y sobre todo los sistemas de pensiones, se han convertido en temas importantes de la agenda económica y política de países desarrollados y en desarrollo, a medida que en las proyecciones demográficas aparece amenazada la sostenibilidad financiera de muchos de los planes de pensiones vigentes. Sin embargo, en el Caribe estos sistemas aún no han sufrido reforma de fondo alguna. Es posible que esto obedezca en parte a la poca investigación existente sobre el tema, por lo cual las autoridades no han dispuesto de estudios acerca de cómo abordar el problema de la protección social en un entorno con las características geográficas y geoclimáticas de la región. Este trabajo busca llenar ese vacío, poniendo de relieve el estado actual de los sistemas públicos de pensiones en el Caribe, su desempeño reciente y los desafíos que les aguardan, y proponer vías para avanzar

Social protection in the english-speaking Caribbean

Includes bibliograph

La protection sociale dans les Caraïbes anglophones

Inclut la bibliographieCes dernières années, les questions de protection sociale, surtoutcelles liées aux systèmes de pensions, ont gagné en importance dansl'agenda économique et politique des pays développés et en développement,à mesure que la viabilité financière de beaucoup de plans de pension enplace semble menacée dans les projections démographiques. Toutefois,dans les Caraïbes, ces systèmes n'ont encore fait l'objet d'aucune réformeen profondeur. Il se peut que ce soit dû en partie au manque de rechercheen la matière, raison pour laquelle les autorités ne disposent pas d'étudesconcernant la façon d'aborder le problème de la protection sociale dans lecadre des caractéristiques géographiques et géoclimatiques de la région.Le présent article entend combler cette lacune, mettant en évidencel'état actuel des systèmes publics de pensions dans les Caraïbes, leursperformances récentes ainsi que les défis à relever, et proposer des pistespour progresser

Essays on social security and human capital accumulation

Doctorat - UCL

Social security benefit rules, growth and inequality

We examine the balanced growth effects of pension plans on the rate of growth and on income dispersion in a closed economy where individual decisions about education are the engine of growth. We distinguish between pay-as-you-go and fully funded pension systems and differentiate between three different benefit rules: a Beveridgean regime, a Bismarckian regime depending on one's entire earnings history and on one's partial earnings history. Our analysis shows that social security generally reduces the long-run growth rate and our inequality measure. Growth can only be stimulated under a fully funded scheme based on partial earnings history. (C) 2003 Elsevier Science Inc. All rights reserved