Job creation and job destruction in Estonia: labour reallocation and structural changes

This paper documents and analyses gross job flows and their determinants in Estonia over the years 1995-2001, using a unique database from the Estonian Business Registry. This database contains all (including also micro and small firms) officially registered firms in Estonia, the total number being almost 52,000. There are several important findings in the paper. Our results show that job flows (job creation and job destruction rates) have been extremely high in Estonia and are comparable to the levels documented for the US. These rates have not decreased recently, although worker flows (transitions between labour market states) have dropped. We also found that the firm-specific component in job flows excess of employment change had relatively lower importance than in western studies due to the emergence of small and medium-sized enterprises and labour reallocation between the economic sectors. The high inter-sectoral mobility has helped maintain high levels of job flows, while both are high also due to a favourable institutional environment, especially due to low start-up costs and a large share of micro enterprises

Creative destruction and transition: the effects of firm entry and exit on productivity growth in Estonia

This paper presents one of the first studies of firm demographics in Estonia, particularly, on the processes of firm entry and exit as well as survival analysis of new firms. Also decompositions of productivity change into components consisting of resource reallocation, firm entry and exit, and productivity growth within continuing firms is carried out. Our results, derived from a novel database of the population of Estonian firms, show that firm turnover has been rather high in Estonia during the observed period from 1995 to 2001, resulting from low institutional entry barriers and emergence of the SME sector. The high survival rates for new firms and surviving firms' relatively fast growth could reflect their relatively high productivity compared to incumbent firms and changes in the sectoral structure of the economy. The decomposition of productivity change shows that the high productivity growth has been mostly from within-firm productivity growth (e.g. the adoption of new production technologies and organizational changes), but the reallocation of production factors (especially the exit of low productivity units) has played an important role as well

Priority setting for research in health care: An application of value of information analysis to glycoprotein IIb/IIIa antagonists in non-ST elevation acute coronary syndrome

The purpose of this study is to explain the rationale for the value of information approach to priority setting for research and to describe the methods intuitively for those familiar with basic decision analytical modeling. A policy-relevant case study is used to show the feasibility of the method and to illustrate the type of output that is generated and how these might be used to frame research recommendations. The case study relates to the use of glycoprotein IIb/IIIa antagonists for the treatment of patients with non-ST elevation acute coronary syndrome. This is an area that recently has been appraised by the National Institute for Health and Clinical Excellence

Le pouvoir et l’appropriation des discours dans les constructions parlementaires au Canada : Le cas des débats sur la Loi sur l’Accord définitif Nisga’a

Cet article examine la ratification vivement contestée d’un traité entre l’État du Canada et la Première nation Nisga’a, communauté autochtone localisée sur la côte ouest de la Colombie-Britannique. Les thèmes de l’analyse sont la forme du débat parlementaire, l’invocation par les membres d’une autorité supposée et le choix de la langue en tant qu’outil stratégique. Le Parlement canadien se compose de deux assemblées, la Chambre des Communes, élue, et le Sénat, dont les membres sont nommés. En analysant le contexte idéologique entourant les débats sur la Loi sur l’Accord définitif Nisga’a, nous avons découvert des différences significatives entre les deux Chambres, dues, en grande partie, aux contextes structurellement différents des deux forums.This paper examines the hotly-contested ratification of a treaty between the state of Canada and the Nisga’a First Nation, an aboriginal community located in the west coast province of British Columbia. The form of Parliamentary debate in the bicameral legislature, the invocation of assumed authority by the members and the choice of language as a strategic tool provide themes in the analysis. The Canadian Parliament is comprised of two Houses, the elected House of Commons and the appointed Senate. In our analysis of the ideological context surrounding the debates on the Nisga’a Final Agreement, we found significant differences between the two Houses, in large part due to the differing structural contexts of the fora.Este artículo examina la ratificación fuertemente contestada de un Tratado entre Canadá y la Primera nación Nisga’a, comunidad autóctona localizada en la costa oriental de la Colombia británica. Los temas del análisis son: la forma del debate parlamentario, la invocación de una supuesta autoridad de sus miembros, y la selección de la lengua en tanto que herramienta estratégica. El parlamento canadiense está compuesto por dos asambleas: la Cámara de los Comunes, elegidos. Y el Senado, cuyos miembros son nombrados. Al analizar el contexto ideológico en torno de los debates sobre la Ley sobre el Acuerdo definitivo con los Nisga’a, hemos descubierto diferencias significativas entre las dos Cámaras, debidas en gran parte a los contextos estructuralmente diferentes de los dos foro

Detecting superior mutual fund managers: evidence from copycats

We examine the ex ante ability of investors to identify superior mutual fund managers among the investor set likely most able, and with the greatest incentive to do so, their rivals. Identifying actual copycat funds via comparisons of trading in consecutive periods, we find little evidence to suggest that managers are able to detect superior funds. Copycats select funds with high prior performance and investment inflows, and the performance of the target fund reverses following copying initiation. If superior managers exist, our results suggest that the source of skill lies in private information obtained by these managers. These results are consistent with information models indicating that private, but not public, information can be profitabl

Vascular Dynamics Aid a Coupled Neurovascular Network Learn Sparse Independent Features: A Computational Model

Cerebral vascular dynamics are generally thought to be controlled by neural activity in a unidirectional fashion. However, both computational modeling and experimental evidence point to the feedback effects of vascular dynamics on neural activity. Vascular feedback in the form of glucose and oxygen controls neuronal ATP, either directly or via the agency of astrocytes, which in turn modulates neural firing. Recently, a detailed model of the neuron-astrocyte-vessel system has shown how vasomotion can modulate neural firing. Similarly, arguing from known cerebrovascular physiology, an approach known as “hemoneural hypothesis” postulates functional modulation of neural activity by vascular feedback. To instantiate this perspective, we present a computational model in which a network of “vascular units” supplies energy to a neural network. The complex dynamics of the vascular network, modeled by a network of oscillators, turns neurons ON and OFF randomly. The informational consequence of such dynamics is explored in the context of an auto-encoder network. In the proposed model, each vascular unit supplies energy to a subset of hidden neurons of an autoencoder network, which constitutes its “projective field.” Neurons that receive adequate energy in a given trial have reduced threshold, and thus are prone to fire. Dynamics of the vascular network are governed by changes in the reconstruction error of the auto-encoder network, interpreted as the neuronal demand. Vascular feedback causes random inactivation of a subset of hidden neurons in every trial. We observe that, under conditions of desynchronized vascular dynamics, the output reconstruction error is low and the feature vectors learnt are sparse and independent. Our earlier modeling study highlighted the link between desynchronized vascular dynamics and efficient energy delivery in skeletal muscle. We now show that desynchronized vascular dynamics leads to efficient training in an auto-encoder neural network

The Combined Impact Of IgLON Family Proteins Lsamp And Neurotrimin On Developing Neurons And Behavioral Profiles In Mouse

Cell surface neural adhesion proteins are critical components in the complex orchestration of cell proliferation, apoptosis, and neuritogenesis essential for proper brain construction and behavior. We focused on the impact of two plasticity-associated IgLON family neural adhesion molecules, Neurotrimin (Ntm) and Limbic system associated membrane protein (Lsamp), on mouse behavior and its underlying neural development. Phenotyping neurons derived from the hippocampi of Lsamp−/−, Ntm−/− and Lsamp−/−Ntm−/− mice was performed in parallel with behavioral testing. While the anatomy of mutant brains revealed no gross changes, the Ntm−/− hippocampal neurons exhibited premature sprouting of neurites and manifested accelerated neurite elongation and branching. We propose that Ntm exerts an inhibitory impact on neurite outgrowth, whereas Lsamp appears to be an enhancer of the said process as premature neuritogenesis in Ntm−/− neurons is apparent only in the presence of Lsamp. We also show interplay between Lsamp and Ntm in regulating tissue homeostasis: the impact of Ntm on cellular proliferation was dependent on Lsamp, and Lsamp appeared to be a positive regulator of apoptosis in the presence of Ntm. Behavioral phenotyping indicated test-specific interactions between Lsamp and Ntm. The phenotypes of single mutant lines, such as reduced swimming speed in Morris water maze and increased activity in the elevated plus maze, were magnified in Lsamp−/−Ntm−/− mice. Altogether, evidence both from behavioral experiments and cultured hippocampal cells show combined and differential interactions between Ntm and Lsamp in the formation of hippocampal circuits and behavioral profiles. We demonstrate that mutual interactions between IgLON molecules regulate the initiation of neurite sprouting at very early ages, and even cell-autonomously, independent of their regulation of cell-cell adhesion

Anderson Transition in Disordered Graphene

We use the regularized kernel polynomial method (RKPM) to numerically study the effect disorder on a single layer of graphene. This accurate numerical method enables us to study very large lattices with millions of sites, and hence is almost free of finite size errors. Within this approach, both weak and strong disorder regimes are handled on the same footing. We study the tight-binding model with on-site disorder, on the honeycomb lattice. We find that in the weak disorder regime, the Dirac fermions remain extended and their velocities decrease as the disorder strength is increased. However, if the disorder is strong enough, there will be a {\em mobility edge} separating {\em localized states around the Fermi point}, from the remaining extended states. This is in contrast to the scaling theory of localization which predicts that all states are localized in two-dimensions (2D).Comment: 4 page