A Macro Analysis of China Pension Pooling System: Incentive Issues and Financial Problem

Over a decade-long of pension reform in China has became much more critical in recent years. Problems of pension reform have started to reveal rapidly and pension reform pace has apparently slowed down. One sign of this is the decision made by the government to suspend a sell off of state-held shares in listed companies to fund the pension shortfall in October of 2001. The pension system built on 1995-reform platform has run into three major problems. First is a huge amount of unfunded pension liabilities inherited from the old system, and second is fragmentation of pension system has increased difficulty to finance pension liabilities. Third is a lack of a capital market to invest pension fund for a higher rate of return. These problems were rooted in the beginning of the pension reform and crippled effective operation of provincial pooling system over the years. And related resulting effects are rising pension deficit, accumulating notional individual accounts, increasing enterprise noncompliance and evasions, declining program participation, continuing financial burden of state-owned enterprises (SOEs) and a fast increase in SOEs retirements, and increasing weakness in central government fiscal conditions. This paper focuses on the incentive problems under the provincial pooling arrangement and aims to understand on a macro-level how adverse effects of the incapability of separation the new system from the old pension liabilities have complicated pension reform process and generated a series of unintended reform problems. The study uses aggregate data from national statistical sources and published data by domestic analysts to analyze incentive issues of state and nonstate sector in the pooling system. The paper answered the three questions. How did individual accounts become notional in the recent years? Why are there widespread noncompliance and evasions among state-owned enterprises toward pension contribution? Why is the non-state sector representing only a small share in provincial pooling pension program? The evidences indicate that current provincial pooling system is in a vicious cycle, financial problems are serious and public confidence in the system is low. Declining share of state sector and low share of non-state sector in contributing to pension program at local levels show that government's approach of expanding pension coverage to solve pension fund shortage at least in short term is ineffective. The government is facing a stark dilemma. Incapable of separating the old pension liability from the current pension financing system has led to an accumulation of unfunded individual accounts. The unfunded pension system and lack of capital accumulation of pension fund have shaken the confidence of current contributors of state enterprises and scares away new contributors from private and foreign invested enterprises. However, limited coverage, low program participation and widespread noncompliance and evasion reduce its pension revenue collection, increase financing gap and in fact double the difficulty to finance the liability, and that would further scare away new contributors too. Caught between the rock and a hard place, the government will have to figure out the approach and structure a reform path that follows pension reform sequencing. First to solve the old pension liabilities through pushing for financial capital market development or by ensuring some sort of central government responsibility. Second, to build the public confidence in the success of the pension system and gain the cooperation and willingness of pubic and private interest in the system. With that in mind, the pension reform outcomes will be both credible and financially viable.

The systemic inflammatory response to dental plaque

Indiana University-Purdue University Indianapolis (IUPUI)Introduction: Bacteremia involving oral bacteria and the systemic inflammatory responses are mechanisms that could causally link oral and systemic diseases. Objective: To use an experimental gingivitis model (EGM) in 2 clinical studies to 1) examine the systemic inflammatory responses to dental plaque, and assess racial differences in these responses; 2) determine whether dental plaque accumulation causes bacteremia and subsequent systemic responses following toothbrushing. Additionally, a laboratory study was conducted to examine the interaction between circulating human neutrophils and Fusobacterium nucleatum. Methods: For both clinical studies, healthy adults, aged 18-31 years, were recruited. In the first study, black and white, males and females participated in a 21-day EGM; in the second study, white adults participated in a 7-day EGM. In both studies, subjects visited the clinic weekly for: 1) measurement of the plaque index (PI) and gingival index (GI); 2) collection of peripheral blood samples to evaluate systemic markers of inflammation. In the second study, to analyze bacteremic episodes during the experimental phase, peripheral blood samples were collected at baseline and at 0.5, 5, and 30 minutes post-toothbrushing. In the laboratory study, interactions between F. nucleatum and circulating neutrophils were examined using a luminol-enhanced chemiluminescence assay. Results: During the experimental phases of both clinical studies, PI and GI increased (p<0.05) with a correlation between PI and GI ≥0.79. In the first study, dental plaque accumulation resulted in a systemic response that manifested as changes (p<0.05) in the level of inflammatory markers, hematologic factors, markers of lipid metabolism, and markers of metabolic change. This systemic response differed between individuals of different gender and race. In the second study, bacteremic episodes and changes in hematologic factors were observed post-toothbrushing during the experimental phase. Activation of neutrophils with F. nucleatum, in the laboratory study, increased the levels of neutrophil chemiluminescence (p<0.05). Conclusions: Overall, the findings of these investigations may shed light on the mechanistic pathways by which oral infection may impose risk for systemic diseases and provide some evidence to support a possible causal association between oral and systemic diseases. The clinical significance of this in systemic inflammatory diseases requires further investigation

The role of hypothalamus-pituitary-adrenal (HPA)-like axis in inflammatory pilosebaceous disorders

Skin is the largest peripheral endocrine organ and functions as a hormone target and endocrine gland. A cutaneous hypothalamus-pituitary-adrenal (HPA)-like axis enables the skin to respond to stress and regulates its steroidogenic activity. The pilosebaceous unit is a site for production and metabolism of a number of steroid hormones, including stress and sex hormones. This is an overview of the important role that the cutaneous HPA-like-axis plays in the pathogenesis and treatment of inflammatory pilosebaceous disorders, including acne, rosacea, seborrheic dermatitis, and hidradenitis suppurativa

Predictors from causal features do not generalize better to new domains

We study how well machine learning models trained on causal features generalize across domains. We consider 16 prediction tasks on tabular datasets covering applications in health, employment, education, social benefits, and politics. Each dataset comes with multiple domains, allowing us to test how well a model trained in one domain performs in another. For each prediction task, we select features that have a causal influence on the target of prediction. Our goal is to test the hypothesis that models trained on causal features generalize better across domains. Without exception, we find that predictors using all available features, regardless of causality, have better in-domain and out-of-domain accuracy than predictors using causal features. Moreover, even the absolute drop in accuracy from one domain to the other is no better for causal predictors than for models that use all features. If the goal is to generalize to new domains, practitioners might as well train the best possible model on all available features.Comment: 13 pages, 7 figure

The θ\theta-augmented model for Bayesian semiparametric inference on functional parameters

Semiparametric Bayesian inference has so far relied on models for the observable that partition into two parts, one being parametric and the other nonparametric, with the target parameter being dependent on the parametric component. While a partitioned structure makes specification of the marginal prior on the target parameter simple to perform, it often arises from conditional modelling which is subject to misspecification and ultimately a lack of consistency. We introduce a new type of semiparametric model to allow easy prior specification for a parameter that is defined as a functional of the distribution for the observable. Our semiparametric model is obtained as an extension of nonparametric models that are consistent under very general conditions. This type of Bayesian semiparametric model can be used to obtain Bayesian versions of Frequentist estimators that are defined as functionals of the empirical distribution. This gives us new opportunities to conduct Bayesian analysis in problems where Frequentist estimators exist but not well-accepted likelihoods

Structural and wetting properties of nature\u27s finest silks (order Embioptera)

Insects from the order Embioptera (webspinners) spin silk fibres which are less than 200 nm in diameter. In this work, we characterized and compared the diameters of single silk fibres from nine species—Antipaluria urichi, Pararhagadochir trinitatis, Saussurembia calypso, Diradius vandykei, Aposthonia ceylonica, Haploembia solieri, H. tarsalis, Oligotoma nigra and O. saundersii. Silk from seven of these species have not been previously quantified. Our studies cover five of the 10 named taxonomic families and represent about one third of the known taxonomic family-level diversity in the order Embioptera. Naturally spun silk varied in diameter from 43.6 ± 1.7 nm for D. vandykei to 122.4 ± 3.2 nm for An. urichi. Mean fibre diameter did not correlate with adult female body length. Fibre diameter is more similar in closely related species than in more distantly related species. Field observations indicated that silk appears shiny and smooth when exposed to rainwater. We therefore measured contact angles to learn more about interactions between silk and water. Higher contact angles were measured for silks with wider fibre diameter and higher quantity of hydrophobic amino acids. High static contact angles (ranging up to 122° ± 3° for An. urichi) indicated that silken sheets spun by four arboreal, webspinner species were hydrophobic. A second contact angle measurement made on a previously wetted patch of silk resulted in a lower contact angle (average difference was greater than 27°) for all four species. Our studies suggest that silk fibres which had been previously exposed to water exhibited irreversible changes in hydrophobicity and water adhesion properties. Our results are in alignment with the ‘super-pinning’ site hypothesis by Yarger and co-workers to describe the hydrophobic, yet water adhesive, properties exhibited by webspinner silk fibres. The physical and chemical insights gained here may inform the synthesis and development of smaller diameter silk fibres with unique water adhesion properties

Using Multimedia Interactive Grammar to Enhance Possessive Pronouns Among Year 4 Pupils

This study was designed to improve the students' grammar specifically in possessive pronouns using Multimedia Interactive Grammar (MIG) as a teaching and learning strategy. The participants of the study were Year 4 pupils from a primary school and the researcher was the teacher who conducted the action research in the classroom and the cycle of the intervention had been done once. The data collected were tests, supported with interview and teacher's reflective journal. Improvement was shown based on the data obtained as there was an increase of scores in the second test compared to first test. Moreover, it was found that MIG was able to enhance pupils' understanding, motivation and promote fun learning in the classroom. The results of the study indicated pupils' positive behaviors and responses towards the use of MIG in learning grammar

Drosophila Bruce Can Potently Suppress Rpr- and Grim-Dependent but Not Hid-Dependent Cell Death

Bruce is a large protein (530 kDa) that contains an N-terminal baculovirus IAP repeat (BIR) and a C-terminal ubiquitin conjugation domain (E2) 1, 2. BRUCE upregulation occurs in some cancers and contributes to the resistance of these cells to DNA-damaging chemotherapeutic drugs [2]. However, it is still unknown whether Bruce inhibits apoptosis directly or instead plays some other more indirect role in mediating chemoresistance, perhaps by promoting drug export, decreasing the efficacy of DNA damage-dependent cell death signaling, or by promoting DNA repair. Here, we demonstrate, using gain-of-function and deletion alleles, that Drosophila Bruce (dBruce) can potently inhibit cell death induced by the essential Drosophila cell death activators Reaper (Rpr) and Grim but not Head involution defective (Hid). The dBruce BIR domain is not sufficient for this activity, and the E2 domain is likely required. dBruce does not promote Rpr or Grim degradation directly, but its antiapoptotic actions do require that their N termini, required for interaction with DIAP1 BIR2, be intact. dBruce does not block the activity of the apical cell death caspase Dronc or the proapoptotic Bcl-2 family member Debcl/Drob-1/dBorg-1/Dbok. Together, these results argue that dBruce can regulate cell death at a novel point