Optimal growth and the golden rule in a two-sector model of capital accumulation

We contribute to the literature on optimal growth in two-sector models by solving a Ram- sey problem with a concave utility function. The unique possible steady-state is independent of initial conditions and of the instantaneous utility function, but not of the discount rate, and is characterized by a wage-rental ratio depending solely on the technology of the capital sector. For an initially low-capital economy, we show that the wage-rental ratio increasingly converges to its balanced value during transition. If the consumption sector is relatively capital-intensive, the relative price of capital increases during transition. If the investment sector is relatively more capital-intensive, it decreases. We also prove that a negative shock on the subjective rate of impatience, that makes the social planner more patient, leads to an immediate positive jump in asset prices.capital accumulation ; optimal growth ; golden rule ; two-sector models

A survey on pseudonym changing strategies for Vehicular Ad-Hoc Networks

The initial phase of the deployment of Vehicular Ad-Hoc Networks (VANETs) has begun and many research challenges still need to be addressed. Location privacy continues to be in the top of these challenges. Indeed, both of academia and industry agreed to apply the pseudonym changing approach as a solution to protect the location privacy of VANETs'users. However, due to the pseudonyms linking attack, a simple changing of pseudonym shown to be inefficient to provide the required protection. For this reason, many pseudonym changing strategies have been suggested to provide an effective pseudonym changing. Unfortunately, the development of an effective pseudonym changing strategy for VANETs is still an open issue. In this paper, we present a comprehensive survey and classification of pseudonym changing strategies. We then discuss and compare them with respect to some relevant criteria. Finally, we highlight some current researches, and open issues and give some future directions

Optimal growth and the golden rule in a two-sector model of capital accumulation

We contribute to the literature on optimal growth in two-sector models by solving a Ram- sey problem with a concave utility function. The unique possible steady-state is independent of initial conditions and of the instantaneous utility function, but not of the discount rate, and is characterized by a wage-rental ratio depending solely on the technology of the capital sector. For an initially low-capital economy, we show that the wage-rental ratio increasingly converges to its balanced value during transition. If the consumption sector is relatively capital-intensive, the relative price of capital increases during transition. If the investment sector is relatively more capital-intensive, it decreases. We also prove that a negative shock on the subjective rate of impatience, that makes the social planner more patient, leads to an immediate positive jump in asset prices

Technical change in a neoclassical two-sector model of optimal growth

This paper investigates into the consequences of sector-speci c technological progress in a two-sector, optimal growth model. In accordance with existing theory, we find that consumption-specifi c Hicks-neutral technical shocks increase consumption but leave other parameters unchanged. Hicks-neutral, investment-specifi c technical shocks increase the wage-rental ratio, and increase steady-state consumption by a factor equal to the macroeconomic ratio of capital share to labor share. If the elasticity of substitution is equal to one in the long run, the growth regime with only investment-specifi c technical change is sustainable and asymptotically balanced

Technical change in a neoclassical two-sector model of optimal growth

This paper investigates into the consequences of sector-speci c technological progress in a two-sector, optimal growth model. In accordance with existing theory, we find that consumption-specifi c Hicks-neutral technical shocks increase consumption but leave other parameters unchanged. Hicks-neutral, investment-specifi c technical shocks increase the wage-rental ratio, and increase steady-state consumption by a factor equal to the macroeconomic ratio of capital share to labor share. If the elasticity of substitution is equal to one in the long run, the growth regime with only investment-specifi c technical change is sustainable and asymptotically balanced.Productivity ; optimal growth ; golden rule ; two-sector models

Une mélanonychie suspecte révélant un syndrome de Laugier Hunziker

Le syndrome de Laugier Hunziker (SLH) est une affection rare, d'étiologie inconnue, décrite initialement en 1970 par Laugier et Hunziker. Elle touche les adultes de phototype clair avec une prédominance féminine. Ce syndrome est caractérisépar la présence des macules lenticulaires, bien limitées, de couleur variable, siégeant au niveau des lèvres et de la cavité buccale. L'atteinte unguéale se voit chez plus de 60% des cas. Trois types de pigmentation unguéale ont été décrits. Le signe de Hutchinson peut être positif posant le problème de diagnostic différentiel avec un mélanome unguéal, surtout lorsqu'il s'agit d'une atteinte monodactylique. Le SLH fait partie des pigmentations mélaniques lenticulaires acquises et bénignes. Aucun cas de transformation maligne n'a été rapporté. Le traitement est purement esthétique, le laser Nd-Yag reste la technique de choix,le risque de récidive n'est pas négligeable.Nous rapportons le cas d'une SLH révélée par une mélanonychie longitudinale suspecte. L'étude dermoscopique et histologique de l'ongle ont permis d'éliminer un mélanome. L'examen cutanéo-muqueux a objectivé des macules lenticulaires des lèvres, du menton et de la région péri-anale. Une abstention thérapeutique a été décidée associée à une surveillance régulière de la patiente.Pan African Medical Journal 2015; 2

The Origins of Religion in Black America

Controversial ideas over the origins of religion in black America arose among different scholars and anthropologists. Some of them believed that afro- Americans’ religions and other aspects of their lives in the New World had been, to a certain extent, influenced by the West African heritage. On the other hand, another group of anthropologists formerly contended that no substantial elements of Africa could affect any aspect of the blacks in America