Endogenous time preference and public policy: Growth and fiscal implications

Copyright @ 2010 Cambridge University Press. This is the author's accepted manuscript. The final published article is available from the link below.This article has been made available through the Brunel Open Access Publishing Fund.This paper studies the growth and fiscal policy implications of the assumption that public policy generates an externality in the individual rate of time preference through the aggregate public capital stock. We examine the competitive equilibrium properties and we solve for endogenous growth–maximizing fiscal policy. We investigate the behavior of the government size and the growth rate to the sensitivity of time preference to public capital and the magnitude of public capital externality on production. We find that the Barro taxation rule [Barro, Robert J., Journal of Political Economy 98 (1990), 103–125], which states that the elasticity of public capital in the production function should equal the government size, is suboptimal. We show that the government does not necessarily have to increase income taxation following a rise in public capital intensity because of the externality of public capital on time preference and, in turn, on growth and the tax base of the economy

Direct Visualization of Single Nuclear Pore Complex Proteins Using Genetically-Encoded Probes for DNA-PAINT

The nuclear pore complex (NPC) is one of the largest and most complex protein assemblies in the cell and, among other functions, serves as the gatekeeper of nucleocytoplasmic transport. Unraveling its molecular architecture and functioning has been an active research topic for decades with recent cryogenic electron microscopy and super-resolution studies advancing our understanding of the architecture of the NPC complex. However, the specific and direct visualization of single copies of NPC proteins is thus far elusive. Herein, we combine genetically-encoded self-labeling enzymes such as SNAP-tag and HaloTag with DNA-PAINT microscopy. We resolve single copies of nucleoporins in the human Y-complex in three dimensions with a precision of circa 3 nm, enabling studies of multicomponent complexes on the level of single proteins in cells using optical fluorescence microscopy

Can Conservation and Profits Co-Exist?: The Case of Lion Hunting

Resource /Energy Economics and Policy,

A novel erm(44) gene variant from a human Staphylococcus saprophyticus confers resistance to macrolides, lincosamides but not streptogramins.

A novel erm (44) gene variant, erm (44)v, has been identified by whole genome sequencing in a Staphylococcus saprophyticus isolated from the skin of a healthy person. It has the particularity to confer resistance to macrolides and lincosamides, but not to streptogramins B when expressed in S. aureus The erm (44)v gene resides on a 19,400-bp genomic island which contains phage-associated proteins and is integrated into the chromosome of S. saprophyticus

On Necessary and Sufficient Conditions for Preserving Convergence Rates to Equilibrium in Deterministically and Stochastically Perturbed Differential Equations with Regularly Varying Nonlinearity

This paper develops necessary and sufficient conditions for the preservation of asymptotic convergence rates of deterministically and stochastically perturbed ordinary differential equations with regularly varying nonlinearity close to their equilibrium. Sharp conditions are also established which preserve the asymptotic behaviour of the derivative of the underlying unperturbed equation. Finally, necessary and sufficient conditions are established which enable finite difference approximations to the derivative in the stochastic equation to preserve the asymptotic behaviour of the derivative of the unperturbed equation, even though the solution of the stochastic equation is nowhere differentiable, almost surely

On the spectral properties of L_{+-} in three dimensions

This paper is part of the radial asymptotic stability analysis of the ground state soliton for either the cubic nonlinear Schrodinger or Klein-Gordon equations in three dimensions. We demonstrate by a rigorous method that the linearized scalar operators which arise in this setting, traditionally denoted by L_{+-}, satisfy the gap property, at least over the radial functions. This means that the interval (0,1] does not contain any eigenvalues of L_{+-} and that the threshold 1 is neither an eigenvalue nor a resonance. The gap property is required in order to prove scattering to the ground states for solutions starting on the center-stable manifold associated with these states. This paper therefore provides the final installment in the proof of this scattering property for the cubic Klein-Gordon and Schrodinger equations in the radial case, see the recent theory of Nakanishi and the third author, as well as the earlier work of the third author and Beceanu on NLS. The method developed here is quite general, and applicable to other spectral problems which arise in the theory of nonlinear equations