Evolution of the Female Labour Force Participation Rate in Canada, 1976-1994: a Cohort Analysis

The participation rate of women aged 25-64 rose greatly in the 1970s and 1980s, but has stagnated in the 1990s. In principle, this development could reflect either the poor growth performance of the economy this decade or the completion of the integration of women into the labour force. In the fourth article of this symposium, Paul Beaudry and Thomas Lemieux use a cohort analysis to shed light on the explanation of this stagnation in female labour force participation. Using data from the Survey of Consumer Finances for the 1976-94 period, the authors track the participation rates over time of representative groups of women who entered the labour force at different points in time. They decompose a cohort’s participation rate into three effects: a macroeconomic effect common across cohorts linked to factors such as recessions and employment insurance generosity; an age or life-cycle effect; and a cohort-specific effect which shows the differences between cohorts for a given age and macroeconomic effect. The authors find that the cohort effects are likely the dominant factor in explaining the recent stagnation of female participation, just as it explained the large increases in the 1970s and 1980s. The recession of the early 1990s, which according to the authors reduced the female participation rate by 1 percentage point, merely amplified the stagnation phenomenon. As the cohort effects stabilize with the narrowing of the gap between male and female participation rates, the stagnation would have occurred, albeit later in the 1990s, even if more favourable macroeconomic conditions had prevailed. The authors conclude that there is still room for a 2-3 percentage point increase in the participation rate of women 25-64, but the magnitude of the increases of the 1970s and 1980s is not possible as the cohort effects that prevailed then no longer exist. The authors stress that their results are dependent on the amount of flexibility used to capture the cohort effect so that the age profile and its slope can trace both the rise and the flattening of the participation rate by age. They point out that over time participation behaviour of women 25-64 is converging toward that of men, namely, high and flat participation profiles to at least age 55. They also note that the much smaller increase in the female participation rate in the United States in the 1990s relative to the 1970s and 1980s despite the robust U.S. labour market supports their findings as the cohort effects were also levelling out south of the border.Canada, Labour Force Participation, Labor Force Participation, Participation Rate, Labour Force Participation Rate, Labor Force Participation Rate, Age Structure, Age, Sex, Gender, Aging, Ageing, Women

Searching for the Kuhnian moment : the Black-Scholes-Merton formula and the evolution of modern finance theory

The Black-Scholes-Merton formula has been put to widespread use by options traders because it provides a means of calculating the theoretically 'correct' price of stock options. Traders can therefore see whether the market price of stock options undervalues or overvalues them compared with their hypothetical Black-Scholes-Merton price, before choosing to buy or sell options accordingly. As a consequence of this close relationship between options pricing theory and options pricing practice, a strong performativity loop was activated, whereby market prices quickly converged on the hypothetical Black-Scholes-Merton prices following the dissemination of the formula. The theory has therefore had significant real-world effects, but how should we characterize the initial instinct to derive the theory from a philosophy of science perspective? The two books under review suggest that a Kuhnian reading of the advancement of scientific knowledge might well be the most appropriate. But, on closer inspection, it becomes clear that the publication of the Black-Scholes-Merton formula should not be seen as a Kuhnian moment with paradigm-shaping attributes. It is shown that, at most, the formula acts as an important exemplar which, via its use in the training of options pricing theorists and options pricing practitioners, reinforces the entrenchment of finance theory within the orthodox economics worldview

Supergeometry in locally covariant quantum field theory

In this paper we analyze supergeometric locally covariant quantum field theories. We develop suitable categories SLoc of super-Cartan supermanifolds, which generalize Lorentz manifolds in ordinary quantum field theory, and show that, starting from a few representation theoretic and geometric data, one can construct a functor A : SLoc --> S*Alg to the category of super-*-algebras which can be interpreted as a non-interacting super-quantum field theory. This construction turns out to disregard supersymmetry transformations as the morphism sets in the above categories are too small. We then solve this problem by using techniques from enriched category theory, which allows us to replace the morphism sets by suitable morphism supersets that contain supersymmetry transformations as their higher superpoints. We construct super-quantum field theories in terms of enriched functors eA : eSLoc --> eS*Alg between the enriched categories and show that supersymmetry transformations are appropriately described within the enriched framework. As examples we analyze the superparticle in 1|1-dimensions and the free Wess-Zumino model in 3|2-dimensions

Expression and regulation of the Msx1 natural antisense transcript during development

Bidirectional transcription, leading to the expression of an antisense (AS) RNA partially complementary to the protein coding sense (S) RNA, is an emerging subject in mammals and has been associated with various processes such as RNA interference, imprinting and transcription inhibition. Homeobox genes do not escape this bidirectional transcription, raising the possibility that such AS transcription occurs during embryonic development and may be involved in the complexity of regulation of homeobox gene expression. According to the importance of the Msx1 homeobox gene function in craniofacial development, especially in tooth development, the expression and regulation of its recently identified AS transcripts were investigated in vivo in mouse from E9.5 embryo to newborn, and compared with the S transcript and the encoded protein expression pattern and regulation. The spatial and temporal expression patterns of S, AS transcripts and protein are consistent with a role of AS RNA in the regulation of Msx1 expression in timely controlled developmental sites. Epithelial–mesenchymal interactions were shown to control the spatial organization of S and also AS RNA expression during early patterning of incisors and molars in the odontogenic mesenchyme. To conclude, this study clearly identifies the Msx1 AS RNA involvement during tooth development and evidences a new degree of complexity in craniofacial developmental biology: the implication of endogenous AS RNAs

Risk of death by suicide following self-harm presentations to healthcare: development and validation of a multivariable clinical prediction rule (OxSATS)

Background Assessment of suicide risk in individuals who have self-harmed is common in emergency departments, but is often based on tools developed for other purposes. Objective We developed and validated a predictive model for suicide following self-harm. Methods We used data from Swedish population-based registers. A cohort of 53 172 individuals aged 10+ years, with healthcare episodes of self-harm, was split into development (37 523 individuals, of whom 391 died from suicide within 12 months) and validation (15 649 individuals, 178 suicides within 12 months) samples. We fitted a multivariable accelerated failure time model for the association between risk factors and time to suicide. The final model contains 11 factors: age, sex, and variables related to substance misuse, mental health and treatment, and history of self-harm. Transparent reporting of a multivariable prediction model for individual prognosis or diagnosis guidelines were followed for the design and reporting of this work. Findings An 11-item risk model to predict suicide was developed using sociodemographic and clinical risk factors, and showed good discrimination (c-index 0.77, 95% CI 0.75 to 0.78) and calibration in external validation. For risk of suicide within 12 months, using a 1% cut-off, sensitivity was 82% (75% to 87%) and specificity was 54% (53% to 55%). A web-based risk calculator is available (Oxford Suicide Assessment Tool for Self-harm or OxSATS). Conclusions OxSATS accurately predicts 12-month risk of suicide. Further validations and linkage to effective interventions are required to examine clinical utility. Clinical implications Using a clinical prediction score may assist clinical decision-making and resource allocation

Mesenchymal stem cells inhibit T-cell function through conserved induction of cellular stress

The physiological role of mesenchymal stem cells (MSCs) is to provide a source of cells to replace mesenchymal-derivatives in stromal tissues with high cell turnover or following stromal tissue damage to elicit repair. Human MSCs have been shown to suppress in vitro T-cell responses via a number of mechanisms including indoleamine 2,3-dioxygenase (IDO). This immunomodulatory capacity is likely to be related to their in vivo function in tissue repair where local, transient suppression of immune responses would benefit differentiation. Further understanding of the impact of locally modulated immune responses by MSCs is hampered by evidence that IDO is not produced or utilized by mouse MSCs. In this study, we demonstrate that IDO-mediated tryptophan starvation triggered by human MSCs inhibits T-cell activation and proliferation through induction of cellular stress. Significantly, we show that despite utilizing different means, immunomodulation of murine T-cells also involves cellular stress and thus is a common strategy of immunoregulation conserved between mouse and humans.</div

Deformations of calibrated D-branes in flux generalized complex manifolds

We study massless deformations of generalized calibrated cycles, which describe, in the language of generalized complex geometry, supersymmetric D-branes in N=1 supersymmetric compactifications with fluxes. We find that the deformations are classified by the first cohomology group of a Lie algebroid canonically associated to the generalized calibrated cycle, seen as a generalized complex submanifold with respect to the integrable generalized complex structure of the bulk. We provide examples in the SU(3) structure case and in a `genuine' generalized complex structure case. We discuss cases of lifting of massless modes due to world-volume fluxes, background fluxes and a generalized complex structure that changes type.Comment: 52 pages, added references, added comment on ellipticity in appendix B, made minor changes according to instructions referee JHE