Common and private property to exhaustible resources: theoretical implications for economic growth

We develop two models of economic growth with exhaustible natural resources and consumers heterogeneous in time preferences. The first model assumes private ownership of natural resources. In the second model, natural resources are commonly owned and the resource extraction rate is chosen by voting. We show that if discount factors are given exogenously, the long-run rate of growth under private property is higher than or equal to that under common property. If the discount factors are formed endogenously, under some circumstances common property can result in a higher rate of growth than private property.natural resources, economic growth, voting, private property, common property

Using of dexmedetomidine in term neonates with hypoxic-ischemic encephalopathy.

The negative impacts of standard pharmacologic sedative agents suggest that alternative agents should be investigated. Dexmedetomidine could be the new option for sedation in newborns with hypoxic-ischemic encephalopathy requiring mechanical ventilation. The aim – to determine the impact of dexmedetomidine and other sedatives on the cerebral blood flow and outcomes of hypoxic-ischemic encephalopathy in term neonates. Data of 205 term infants with hypoxic-ischemic encephalopathy by Sarnat scale stage II-III were collected during ≤72 hours of life. The infants were divided using a simple open randomization by pharmacological sedative agents during mechanical ventilation into dexmedetomidine group (n=46) and the control group (n=159), which included morphine, sodium oxybutyrate, and diazepam in standard recommended doses. A comparative analysis of the effect of dexmedetomidine and other drugs on cerebral perfusion and outcomes of hypoxic-ischemic encephalopathy was performed. A significant difference between groups in days of trachea extubation (p=0.022) was found; the chance for babies to be extubated before the 7th day of treatment was significantly higher in the dexmedetomidine group 68% versus 33% in the control group (p=0.018) with HR 0.48 (95% CI 0.27-0.86, p=0.011). Also, the NIRS index rScO2 differed significantly between the studied and control groups on the 1st day of treatment (65% versus 79%, p=0.012) and on the 2nd day of treatment (74% versus 81%, p=0.035). Mean arterial pressure was higher in the dexmedetomidine group compared to the control group – (58 [51-65] mm Hg versus 53 [46-60] mm Hg, p<0.001), with a lower dose of dobutamine (EV -1.87, 95% CI from -3.25 to -0.48, p=0.009). In the dexmedetomidine group, the rate of seizures was significantly lower on the 1st day of obser­vation (4.3% versus 48.3%, p <0.001); the incidence of unfavorable outcome sueh as cerebral leukomalacia was also 7 times lower in the dexmedetomidine group compared to the control group (2.2% versus 15.1%, p=0.018). Dexme­detomidine is a safe sedative agent with a stable hemodynamic profile, without adverse influence on cerebral perfusion and possible neuroprotective effects in term infants with HIE, as addition to standard therapeutic hypothermia

Pension reform and intergenerational altruism in economic dynamics models

A complexity of a pension reform realization in a country with high level of intergenerational altruism is considered as a reason of a failure of the pension reform in Russia. Differences between intergenerational altruism levels in Russia and more modernized western countries are discussed. Overlapping generations models with two-way intergenerational altruism and pension system are analyzed. Successful transition from pay-as-you go pension system to fully funded one is shown to be possible in a modernized society with low level of intergenerational altruism and stable economy. But, even in that case the issue of the transition costs, their volume and distribution remains essential.pension system, pension reform, fully funded pension system, pay-as-you-go pension system, intergenerational transfers, intergenerational altruism, overlapping generations

Investments in development of children from disadvantaged families in Russia as an example of the cost-benefit analysis

The possibilities of cost-benefit analysis are demonstrated when estimating en efficiency of investments in development of children in disadvantageous gamilies in Russia. In Russia, There are no programs similar to the High/Scope Perry Preschool in the U.S.A., and in this preliminary analysis we assume that hypothetical Russian analog of the High/Scope Perry Preschool gives similar results for children involved. But economic and social benefits are estimated taking into account Russian realities: education and health systems, people incomes, tax system, crime etc. We estimate present value of social and economic benefits resulting from the program implementation per child involved. This allows us to calculate maximal costs of hypothetical Russian program up to which it is profitable.cost-benefit analysis, early investment, High/Scope Perry Preschool

Stationary States in Bistable System Driven by L\'evy Noise

We study the properties of the probability density function (PDF) of a bistable system driven by heavy tailed white symmetric L\'evy noise. The shape of the stationary PDF is found analytically for the particular case of the L\'evy index \alpha = 1 (Cauchy noise). For an arbitrary L\'evy index we employ numerical methods based on the solution of the stochastic Langevin equation and space fractional kinetic equation. In contrast with the bistable system driven by Gaussian noise, in the L\'evy case the positions of maxima of the stationary PDF do not coincide with the positions of minima of the bistable potential. We provide a detailed study of the distance between the maxima and the minima as a function of the potential's depth and L\'evy noise parameters.Comment: Accepted to EPJS

An empirical model of optimal import phytosanitary inspection

This paper presents an empirical model of optimal budget allocation for import inspection of imported commodities. In this model, the budget constrained inspecting Agency wants to minimize the expected pest costs related to import trade pathways. The model is applied to the problem of budget allocation for inspection of chrysanthemum cuttings imported to the Netherlands. The numerical results imply that under a budget constraint, resources should be first allocated for inspection of pathways with the greatest expected pest costs. Pathways with lower expected pest costs should receive less or no resources. The inspecting Agency has to trade off risks between inspected and non-inspected pathways.International Relations/Trade,

Determination of chemical composition of the atmosphere of Venus by the interplanetary station ''Venera-4''

Venera-4 observation of chemical composition of Venus atmospher