Sustainable Social Security: Four Options

This paper presents four policy options to make Social Security sustainable under the coming demographic shift: 1) increase payroll taxes by 6 percentage points, 2) reduce the replacement rates of the benefit formula by one-third, 3) raise the normal retirement age from sixty-six to seventy-three, or 4) means-test the benefits and reduce them one-to-one with income. While all four policies achieve the same goal, their economic outcomes differ significantly. Options 2 and 3 encourage own savings, and capital stock is more than 10 percent higher than in the other two options. The payroll tax increase in option 1 discourages work effort, but means-testing the benefits as outlined in option 4 yields the worst labor disincentives, especially among the elderly

Subsidizing Job Creation in the Great Recession

We analyze the effects of various labor market policies on job creation, job destruction, and employment. The framework of Mortensen and Pissarides (2003) is used to model the dynamic interaction between firms and workers and to simulate their responses to alternative policies. The equilibrium model is calibrated to capture labor market conditions at the end of 2009, including the unemployment, inflow, and outflow rates by workers of different educational attainment. We consider the equilibrium effects of a hiring subsidy, a payroll tax reduction, and an employment subsidy. While calibrating parameters that characterize these policies, we try to mimic the policies in the Hiring Incentives to Restore Employment (HIRE) Act of 2010. We find that a hiring subsidy and a payroll tax deduction, as in the HIRE Act, can stimulate job creation in the short term, but can cause a higher equilibrium unemployment rate in the long term. Employment subsidies succeed in lowering the unemployment rate permanently, but the policy entails high fiscal costs

U.S. Tax Policy and Health Insurance Demand: Can a Regressive Policy Improve Welfare?

The U.S. tax policy on health insurance is regressive because it favors only those offered group insurance through their employers, who tend to have a relatively high income. Moreover, the subsidy takes the form of deductions from the progressive income tax system, giving high-income earners a larger subsidy. To understand the effects of the policy, we construct a dynamic general equilibrium model with heterogenous agents and an endogenous demand for health insurance. We use the Medical Expenditure Panel Survey to calibrate the process for income, health expenditures, and health insurance offer status through employers and succeed in matching the pattern of insurance demand as observed in the data. We find that despite the regressiveness of the current policy, a complete removal of the subsidy would result in a partial collapse of the group insurance market, a significant reduction in the insurance coverage, and a reduction in welfare coverage. There is, however, room for raising the coverage and significantly improving welfare by extending a refundable credit to the individual insurance market

Development of span 80–tween 80 based fluid-filled organogels as a matrix for drug delivery

Background: Organogels are defined as 3-dimensional networked structures which immobilize apolar solvents within them. These gelled formulations are gaining importance because of their ease of preparation and inherent stability with improved shelf life as compared to the ointments. Aim: Development of span 80-tween 80 mixture based organogels for the first time by fluid-filled fiber mechanism. Materials and Methods: Span 80 and tween 80 were used as surfactant and co-surfactant, respectively. The surfactant mixtures were dissolved in oil followed by the addition of water which led to the formation of organogels at specific compositions. The formulations were analyzed by microscopy, X-ray diffraction (XRD), time-dependent stability test and accelerated thermal stability test by thermocycling method. Ciprofloxacin, a fourth-generation fluoroquinolone, was incorporated within the organogels. The antimicrobial activity of the drug loaded organogels and in vitro drug release from the gels was also determined. Results and Conclusions: Microscopic results indicated that the gels contained clusters of water-filled spherical structures. XRD study indicated the amorphous nature of the organogels. The release of the drug was found to be diffusion controlled and showed marked antimicrobial property. In short, the prepared organogels were found to be stable enough to be used as pharmaceutical formulation

Synthesis of Vegetable Fat Containing Chitosan Microparticles with Improved Physical and Delivery Properties

<p>The present study describes the encapsulation of vegetable fats (cocoa butter and mango butter) within chitosan microparticles by double emulsion technique to prevent leaching of the internal apolar phase. Leaching studies suggested negligible leaching of the internal phase (∼12–14%) when the fats were encapsulated as compared to the control (∼40%). Fourier transform infrared spectroscopy and differential scanning calorimeter studies confirmed the successful encapsulation of fats. The release of drug (ciprofloxacin) from the microparticles was diffusion and erosion mediated and were capable to elicit antimicrobial activity against <i>Escherichia coli</i>. The study suggests that the developed microparticles have the potential for controlled delivery of antimicrobials.</p

Bacterial vaginosis: Etiology and modalities of treatment—A brief note

A large women population of the world is suffering from a vaginal infection commonly known as bacterial vaginosis. The disease is associated with the decrease in the lactobacilli count in the vagina. Till date, there is a lack of full proof treatment modalities for the cure of the disease. The treatment includes the use of antimicrobials and/or acidifying agents and probiotics, either separately or in combination. This note discusses about the etiology and the various present-day modalities of treatment of bacterial vaginosis

Mango Butter Emulsion Gels as Cocoa Butter Equivalents: Physical, Thermal, and Mechanical Analyses

The search for cocoa butter equivalents in food and pharmaceutical industries has been gaining importance. In the present study, mango butter was explored as cocoa butter equivalent. Aqueous gelatin solution (20% w/w) containing cocoa butter and mango butter water-in-oil (fat) type emulsion gels were prepared by hot emulsification method. XRD and DSC melting profiles suggested the presence of unstable polymorphic forms (α and β′) of fats in the emulsion gels. The crystal size and solid fat content analyses suggested that the presence of aqueous phase might have hindered the transformation of unstable polymorphic forms to stable polymorphic form (β) in the emulsion gels. Fat crystals in the emulsion gels were formed by instantaneous nucleation via either uni- or bidimensional growth (Avrami analysis). The viscoelastic nature of the emulsion gels was evaluated by modified Peleg’s analysis (stress relaxation study). Results inferred that the physical, thermal, and mechanical properties of mango butter emulsion gels are comparable to those of cocoa butter emulsion gels. On the basis of preliminary studies, it was suggested that the mango butter emulsion gels may have potential to be used as cocoa butter equivalents

Formulation and Characterization of Emulgel-Based Jelly Candy: A Preliminary Study on Nutraceutical Delivery

The development of consumer-friendly nutraceutical dosage forms is highly important for greater acceptance. In this work, such dosage forms were prepared based on structured emulsions (emulgels), where the olive oil phase was filled within the pectin-based jelly candy. The emulgel-based candies were designed as bi-modal carriers, where oil-soluble curcumin and water-soluble riboflavin were incorporated as the model nutraceuticals. Initially, emulsions were prepared by homogenizing varied concentrations (10% to 30% (w/w)) of olive oil in a 5% (w/w) pectin solution that contained sucrose and citric acid. Herein, pectin acted as a structuring agent-cum-stabilizer. Physico–chemical properties of the developed formulations were thoroughly analyzed. These studies revealed that olive oil interferes with the formation of polymer networks of pectin and the crystallization properties of sugar in candies. This was confirmed by performing FTIR spectroscopy and DSC studies. In vitro disintegration studies showed an insignificant difference in the disintegration behavior of candies, although olive oil concentration was varied. Riboflavin and curcumin were then incorporated into the jelly candy formulations to analyze whether the developed formulations could deliver both hydrophilic and hydrophobic nutraceutical agents. We found that the developed jelly candy formulations were capable of delivering both types of nutraceutical agents. The outcome of the present study may open new directions for designing and developing oral nutraceutical dosage forms