Measuring European Competitiveness at the Sectoral level

This book develops a new approach for estimating the way in which labour costs reflect cost competitiveness. Conventionally, unit labour costs (a standard measure of cost competitiveness) are calculated as indices, without regard to the relative levels of wage costs. To remedy this, the authors develop the concept of the ‘equilibrium wage’, which corresponds to the level of wages when the returns on capital in different regions and sectors are equalised. A wage competitiveness indicator is thus calculated as the ratio of actual to equilibrium wages. The book presents empirical evidence of equilibrium and actual wage developments for country aggregates and for economic sectors. Within the euro area, five countries are above equilibrium levels, three (including Germany) are close to equilibrium, and eleven member states (mainly in central and eastern Europe) have massively undervalued wages. The data for sectoral competitiveness seem to reflect in part sectoral specialisation, but the picture varies between sectors, countries and time periods

Swine flu: lessons we need to learn from our global experience

There are important lessons to be learnt from the recent ‘Swine Flu’ pandemic. Before we call it a pandemic, we need to have appropriate trigger points that involve not only the spread of the virus but also its level of virulence. This was not done for H1N1 (swine flu). We need to ensure that we improve the techniques used in trying to decrease the spread of infection—both in the community and within our hospitals. This means improved infection control and hygiene, and the use of masks, alcohol hand rubs and so on. We also need to have a different approach to vaccines. Effective vaccines were produced only after the epidemic had passed and therefore had relatively little impact in preventing many infections. Mass population strategies involving vaccines and antivirals also misused large amounts of scarce medical resources

Strong interminivalley scattering in twisted bilayer graphene revealed by high-temperature magnetooscillations

Twisted bilayer graphene (TBG) provides an example of a system in which the interplay of interlayer interactions and superlattice structure impacts electron transport in a variety of non-trivial ways and gives rise to a plethora of interesting effects. Understanding the mechanisms of electron scattering in TBG has, however, proven challenging, raising many questions about the origins of resistivity in this system. Here we show that TBG exhibits high-temperature magnetooscillations originating from the scattering of charge carriers between TBG minivalleys. The amplitude of these oscillations reveals that interminivalley scattering is strong, and its characteristic time scale is comparable to that of its intraminivalley counterpart. Furthermore, by exploring the temperature dependence of these oscillations, we estimate the electron-electron collision rate in TBG and find that it exceeds that of monolayer graphene. Our study demonstrates the consequences of the relatively small size of the superlattice Brillouin zone and Fermi velocity reduction on lateral transport in TBG.Comment: 10 pages, 6 figure