Sectoral shifts: impact on Hong Kong workers

This paper documents the accelerating rate of economic transformation in Hong Kong during the 1980s and its impact on the labour market. Earnings in expanding sectors have risen faster than earnings in declining sectors. The magnitude of the effect, however, is small and variable. Sectoral shifts have also had negligible effects on aggregate unemployment and unemployment in declining sectors. It is found that the degree of earnings inequality has increased contemporaneously with the rising rate of economic transformation. The earnings of less well-educated workers have fallen relative to other workers. The earnings of elderly workers, however, have not fallen relative to other workers. The reallocation of labour from low-wage sectors to high-wage sectors has resulted in a substantial growth in earnings for most workers involved.postprin

Investment in Concealable Information

Session ID 59: Principal-Agent ModelsA sender who wants to influence a decision maker has no incentive to collect information if he has to reveal all evidence so obtained, because the expected value of posterior belief is equal to the prior. If he can conceal his evidence at a cost, he invests more in obtaining information when this cost is lower, and this dampens the incentive to conceal evidence as the decision maker would become skeptical upon hearing nothing. In equilibrium greater freedom to conceal information may lead to greater information revelation. A sender has less incentive to conceal evidence when there is another sender who can obtain conditionally independent information, regardless of whether the other sender has the same or the opposite bias.published_or_final_versio

Aspiring for Change: A Theory of Middle Class Activism

We propose a regime change model in which people are uncertain about both the quality of a specific regime and governance in general. The poor perceive the current regime as bad, rationally infer that all governments are bad, and therefore believe mass movements are futile. The middle class are more sanguine about the prospect of good government, and believe that collective action is effective because they expect many fellow citizens to share the same view. This coordination game with incomplete information does not admit monotone equilibrium but exhibits multiple interval equilibria, where middle class people are more likely to attack the regime.postprin

The Long-term Effectiveness of the Hong Kong Employees Retraining Programme

The Employees Retraining Programme in Hong Kong was promoted as the solution to structural unemployment resulting from rapid transformation of the economy. However, our study of the labour market performance of a group of trainees shows no evidence of any positive programme effect, more than three years after the completion of training, when compared to a group of job searchers. In particular, full time training is found to be less effective than part time training, and training in general skills is significantly less effective than training in specific occupational skills. This suggests problems in the design and implementation of retraining in Hong Kong.postprin

Falling Dominoes: A Theory of Rare Events and Crisis Contagion

Crises, such as revolutions and currency attacks, rarely occur; but when they do they typically arrive in waves. The rarity of crises itself is an important contagion mechanism in a multiple-country dynamic global game model. When players are uncertain about the true model of the world, observing a rare success elsewhere can substantially change their expectations concerning the payoffs from attacking or defending the regime. Such dramatic revisions in beliefs, amplified by strategic complementarity in actions, may lead to a series of attacks in other countries. The crisis period can be long-lasting, but will eventually come to an end.postprin

Investing in Reputation: Strategic Choices in Career Building

In many occupations, reputation or past performance affects the demand for a worker’s output, creating an incentive to invest in reputation early in a career. This results in a tendency for superior workers to start their career in the mainstream market. The intuition is that, for high ability workers, the returns to investing in reputation is larger in the mass market, while less able ones would avoid the more competitive mainstream by developing their specializations in the fringe market. Some mainstream workers may enter the fringe market once the motive to invest in reputation diminishes later in their careers, but less able workers who start in the fringe are seldom able to return to the mainstream. These results are empirically testable and have potential implications for product markets as well.postprin

The Power of Whispers: A Theory of Rumor, Communication, and Revolution

postprin

Engineering a novel self-powering electrochemical biosensor

This paper records the efforts of a multi-disciplinary team of undergraduate students from Glasgow University to collectively design and carry out a 10 week project in Synthetic Biology as part of the international Genetic Engineered Machine competition (iGEM). The aim of the project was to design and build a self-powering electrochemical biosensor called ‘ElectrEcoBlu’. The novelty of this engineered machine lies in coupling a biosensor with a microbial fuel cell to transduce a pollution input into an easily measurable electrical output signal. The device consists of two components; the sensor element which is modular, allowing for customisation to detect a range of input signals as required, and the universal reporter element which is responsible for generating an electrical signal as an output. The genetic components produce pyocyanin, a competitive electron mediator for microbial fuel cells, thus enabling the generation of an electrical current in the presence of target chemical pollutants. The pollutants tested in our implementation were toluene and salicylate. ElectrEcoBlu is expected to drive forward the development of a new generation of biosensors. Our approach exploited a range of state-of-the-art modelling techniques in a unified framework of qualitative, stochastic and continuous approaches to support the design and guide the construction of this novel biological machine. This work shows that integrating engineering techniques with scientific methodologies can provide new insights into genetic regulation and can be considered as a reference framework for the development of biochemical systems in synthetic biology

How well do second-year students learn physical diagnosis? Observational study of an objective structured clinical examination (OSCE)

BACKGROUND: Little is known about using the Objective Structured Clinical Examination (OSCE) in physical diagnosis courses. The purpose of this study was to describe student performance on an OSCE in a physical diagnosis course. METHODS: Cross-sectional study at Harvard Medical School, 1997–1999, for 489 second-year students. RESULTS: Average total OSCE score was 57% (range 39–75%). Among clinical skills, students scored highest on patient interaction (72%), followed by examination technique (65%), abnormality identification (62%), history-taking (60%), patient presentation (60%), physical examination knowledge (47%), and differential diagnosis (40%) (p < .0001). Among 16 OSCE stations, scores ranged from 70% for arthritis to 29% for calf pain (p < .0001). Teaching sites accounted for larger adjusted differences in station scores, up to 28%, than in skill scores (9%) (p < .0001). CONCLUSIONS: Students scored higher on interpersonal and technical skills than on interpretive or integrative skills. Station scores identified specific content that needs improved teaching

Carboxylic ester hydrolases from hyperthermophiles

Carboxylic ester hydrolyzing enzymes constitute a large group of enzymes that are able to catalyze the hydrolysis, synthesis or transesterification of an ester bond. They can be found in all three domains of life, including the group of hyperthermophilic bacteria and archaea. Esterases from the latter group often exhibit a high intrinsic stability, which makes them of interest them for various biotechnological applications. In this review, we aim to give an overview of all characterized carboxylic ester hydrolases from hyperthermophilic microorganisms and provide details on their substrate specificity, kinetics, optimal catalytic conditions, and stability. Approaches for the discovery of new carboxylic ester hydrolases are described. Special attention is given to the currently characterized hyperthermophilic enzymes with respect to their biochemical properties, 3D structure, and classification