Risk sharing, investment, and incentives in the neoclassical growth model

We first study growth and risk sharing in a stochastic growth model with preference shocks and two risk-averse agents. In periods in which one of the agents needs extra consumption (insurance), it is socially optimal to reduce the consumption of the other agent (redistribution) and also to accumulate fewer resources for the future (disinvestment). The latter hurts growth while the former only affects the distribution of aggregate consumption. Then, to analyze if information matters, we study if the same allocation would be implementable under private information. We find that it depends on the state of the economy. The provision of insurance that is implemented by reducing capital accumulation deteriorates the prospects of all agents in the economy and thus helps to alleviate informational frictions. The size of redistribution versus disinvestment and the outlook of economic growth at the time of disinvestment affects the possibilities of implementing the best possible allocation when the preference shock is private information. Therefore, we conjecture that under private information the best allocation compatible with incentives would tend to hurt growth and to concentrate resources in agents with private information in order to provide incentives to report the shock truthfully.Business cycles ; Economic growth

Indirect ELISA for Detection of Fascioliasis IgG Antibodies in Human Sera

Currently, coprological examination based on egg detection in stool samples is used as the most ideal standard for the diagnosis of human fascioliasis. However, this method has been proven not to be adequate when being employed in the acute phase of the disease, and presents a poor sensitivity during the chronic phase. Serodiagnosis has become an excellent alternative to coprological examination in efforts to combat the effects of fascioliasis on human and animal health. Human fascioliasis is usually recognized as an infection of the bile ducts and liver caused by Fasciola hepatica, known to affect over 2 million humans. In this research, Indirect Enzyme-linked Immunosorbent Assay (ELISA) was performed to discern between positive and negative IgG antibody titers in sera in collaboration with a lab in Peru. A batch of approximately 325 samples of human sera of endemic Fasciola hepatica from regions in Peru was gathered and sent to the laboratory in order to be examined with the method explained in the following paragraph. In the search for a test for the diagnosis of fascioliasis on humans, indirect ELISA started to be employed in order to determine positive and negative values. In the indirect ELISA test, the sample antibody is sandwiched between the antigen coated on the plate and an enzyme-labeled, anti-species globulin conjugate. The addition of an enzyme substrate-chromogen reagent causes color to develop. This color is directly proportional to the amount of bound sample antibody. The more antibody present in the sample, the stronger the color development in the test wells. Positive samples presented a very strong optical density value, while negative samples were clear or low optical density value, measured with the aid of a spectrophotometer

Elecciones autonómicas y principio de presencia equilibrada de mujeres y hombres : análisis crítico de los resultados electorales posteriores a la aprobación de la Ley Orgánica de Igualdad efectiva de mujeres y hombres

El presente trabajo realiza un análisis crítico de la aplicación del principio de presencia equilibrada de mujeres y hombres en las elecciones autonómicas españolas posteriores a la reforma de la Ley Orgánica del Régimen Electoral General, introducida por la Ley Orgánica 3/2007, de 22 de marzo, de Igualdad Efectiva de Mujeres y Hombres. Asimismo, se recuerda que el Tribunal Constitucional se ha pronunciado reiteradamente avalando la constitucionalidad del nuevo marco normativo electoral, tanto en el ámbito estatal como autonómico. Los últimos resultados electorales autonómicos reflejan un avance positivo en la participación política de las mujeres en todas las Comunidades Autónomas, siendo especialmente significativo en aquellas Comunidades que modificaron su legislación electoral autonómica, con anterioridad a la LOI, en un sentido más favorable al mínimo del 40% de cada uno de los sexos en la confección de candidaturas electorales. Sin embargo, todavía no se ha alcanzado el objetivo de la paridad democrática, como requisito de una verdadera sociedad democrática, dada la tendencia mayoritaria de los partidos políticos de asignar, de manera sistemática, el mínimo del 40% de las candidaturas al sexo femenino y de mantener, en la mayoría de las ocasiones, como cabezas de listas de cada circunscripción electoral a los varones

Viscoelastic properties of human and bovine articular cartilage : a comparison of frequency-dependent trends

Acknowledgments The authors would like to thank Spencer C. Barnes and Hamid Sadeghi for assistance during experimentation. We would also like to thank patients donating tissue and the surgeons collecting these. Funding The equipment used in this study was funded by Arthritis Research UK (Grant number H0671). We are grateful to Arthritis Research UK for the award of a PhD studentship to Anna A. Cederlund (Grant number 19971). Arthritis Research UK had no role in the design of the study and collection, analysis and interpretation of data and in writing the manuscript.Peer reviewedPublisher PD

Unemployment insurance in high informality countries

Providing unemployment insurance is particularly problematic in countries with high informality because workers can claim unemployment benefits and work in the informal sector at the same time. This paper proposes a method to evaluate alternative schemes to provide insurance for unemployed individuals. First, it presents an economy that can be calibrated to reproduce key features of the economy for which the reform will be evaluated. Then, it shows how the implementation of an unemployment insurance savings account (UISA) scheme can be evaluated. The method is applied to Mexico, and the results show how the UISA scheme would eliminate incentives for participation in the informal sector. The implementation of the UISA would imply large welfare gains from the ex-ante perspective

Objective Uniaxial Identification of Transition Points in Non-Linear Materials: Sample Application to Porcine Coronary Arteries and the Dependency of Their Pre- and Post-Transitional Moduli with Position

This study aimed to develop an objective method for the elastic characterisation of pre- and post-transitional moduli of left anterior descending (LAD) porcine coronary arteries. Methods Eight coronary arteries were divided into proximal, middle and distal test specimens. Specimens underwent uniaxial extension up to 3 mm. Force–displacement measurements were used to determine the induced true stress and stretch for each specimen. A local maximum of the stretch-true stress data was used to identify a transition point. Pre- and post-transitional moduli were calculated up to and from this point, respectively. Results The mean pre-transitional moduli for all specimens was 0.76 MPa, as compared to 4.86 MPa for the post-transitional moduli. However, proximal post-transitional moduli were significantly greater than that of middle and distal test specimens (p < 0.05). Conclusion Post-transitional uniaxial properties of the LAD are dependent on location along the artery. Further, it is feasible to objectively identify a transition point between pre- and post-transitional moduli

Variation in viscoelastic properties of bovine articular cartilage below, up to and above healthy gait-relevant loading frequencies

The aim of this study was to determine the variation in viscoelastic properties of femoral head bovine articular cartilage, on-bone, over five orders of magnitude of loading frequency. These frequencies ranged from below, up to and above healthy gait-relevant frequencies, using<1, 1–5 and 10 Hz, respectively. Dynamic mechanical analysis was used to measure storage and loss stiffness. A maximum compressive force of 36 N was applied through a chamfered-end, 5.2-mm-diameter, indenter. This induced a maximum nominal stress of 1.7 MPa. The ratio of storage to loss stiffness increased from near parity (2.5) at low frequencies to 11.4 at 10 Hz. This was the result of a significant logarithmic increase (p < 0.05) in storage stiffness with frequency, from 367 N/mm (0.001 Hz) up to 1460 N/mm (10 Hz). In contrast, the loss stiffness remained approximately constant. In conclusion, viscoelastic properties of articular cartilage measured at frequencies below those of gait activities are poor predictors of its relevant dynamic mechanical behaviour

External Shocks versus Domestic Policies in Emerging Markets

Debt crises in emerging markets have been linked to large fiscal deficits, high inflation rates, and large devaluations. This article studies a sovereign default model with domestic fiscal and monetary policies to understand Argentina’s experience during the 2000s commodity boom (2005–2017), following the default of 2001. The model suggests that domestic policies played a critical role in Argentina’s poor economic performance. Despite exceptionally favorable terms of trade, a rise in government spending led to higher taxation, inflation and currency depreciation, and lower output. Economic performance would have been worse had Argentina followed a strict, rather than accommodative, monetary policy without curbing its expansionary fiscal policy. Finally, limited access to international credit markets during this episode did not appear to play a significant role.Este artículo se encuentra publicado en Federal Reserve Bank of St. Louis Review, Second Quarter 2023, 105(2), pp. 108-21

“I’m Going to Live My Life Freely”: Authenticity as an Indicator of Belonging Among Urban Latinx LGBTQ+ Youth

While there is a growing body of scholarship on the experiences of LGBTQ+ youth in school and community settings, less is known about Latinx LGBTQ+ youth specifically. In response, this phenomenological study examined the experiences of eight Latinx LGBTQ+ youth relative to school and community belonging, with a specific focus on urban environments, using intersectionality and minority stress frameworks, and Lee and Robbins’ operational definition of belongingness. Three overarching themes emerged from the data: (a) navigating challenges, (b) the importance of an inclusive climate, and (c) thriving through adversity. Further, authenticity was identified as an additional indicator of belonging among Latinx LGBTQ+ youth. This article reviews the study’s findings, explores implications for Extension research and practice, and suggests strategies for educators and youth-serving professionals

Assessment of the importance of the current-wave coupling in the shelf ocean forecasts

International audienceThe effects of wave-current interactions on shelf ocean forecasts is investigated in the framework of the MFSTEP (Mediterranean Forecasting System Project Towards Enviromental Predictions) project. A one way sequential coupling approach is adopted to link the wave model (WAM) to the circulation model (SYMPHONIE). The coupling of waves and currents has been done considering four main processes: wave refraction due to currents, surface wind drag and bottom drag modifications due to waves, and the wave induced mass flux. The coupled modelling system is implemented in the southern Catalan shelf (NW Mediterranean), a region with characteristics similar to most of the Mediterranean shelves. The sensitivity experiments are run in a typical operational configuration. The wave refraction by currents seems to be not very relevant in a microtidal context such as the western Mediterranean. The main effect of waves on current forecasts is through the modification of the wind drag. The Stokes drift also plays a significant role due to its spatial and temporal characteristics. Finally, the enhanced bottom friction is just noticeable in the inner shelf