The Commitment Effect of Choosing the Same Bank

In a model where firms use external funds to finance R&D investments, we show that they may prefer to borrow from the same bank, rather than going to competing banks. A monopolist bank will capture more of firms' operating profits. But, these profits will also be higher, since having the same bank serves as a commitment device not to spend too much on R&D. In our model, the latter effect dominates.

Harmful monitoring

Abstract We show that there may be circumstances in which a principal prefers not to observe the project choice of an agent that acts on her behalf. The ability of the agent is private information. Projects differ with respect to the amount of risk. If the principal can observe the project choice of the agent, the latter will use that choice as a signal. In the separating equilibrium, an agent with high ability then chooses a project that is too risky. If more difficult projects require more effort, there are two opposite effects. The shirking effect implies that the agent chooses a project that is too safe. The signaling effect implies that he chooses a project that is too risky. The net effect is ambiguous. We also discuss the implications of our model for promotion policies.

Numerical and asymptotic solutions of generalised Burgers’ equation

The generalised Burgers’ equation has been subject to a considerable amount of research on how the equation should behave according to asymptotic analysis, however there has been limited research verifying the asymptotic analysis. In order to verify the asymptotic analysis, this paper aims to run long time and detailed numerical simulations of Burgers’ equation by employing suitable rescalings of Burgers’ equation. It is hoped that this technique will make it possible to notice subtle changes in the shock structure which would otherwise be impossible to observe. The main aim of this paper is to validate the numerical methods used in order to allow further research into shock evolution where further relaxation effects will be included

Participatory varietal selection of potato using the mother & baby trial design: A gender-responsive trainer’s guide.

This guide aims to provide step-by-step guidance on facilitating and documenting the PVS dynamics using the MBT design to select, and eventually release, potato varieties preferred by end-users that suit male and female farmers ’different needs, diverse agro-systems, and management practices, as well as traders ’and consumers’ preferences

Evolution of an Interprofessional Patient Skills Course with the Incorporation of Simulation Scenarios

A university level interprofessional patient care skills course including Nursing, Radiologic Sciences, and Respiratory Care students has evolved over 20 years. The course includes a lecture and laboratory portion with specific content and skills focused on principles common to the three disciplines. Students are placed in interprofessional groups during lab to practice and learn together including a simulation scenario on each week’s content. This educational strategy has enhanced the students’ teamwork and communication skills and prepared them to apply these skills to clinical practice. Further research is needed to look at IPE undergraduate healthcare course outcomes related to teamwork

Dust devils on Earth and Mars: Extension of particle threshold laboratory simulations

Abstract not available

Who pays the taxes?

The European Union is legally entitled to the revenue from (1) agricultural and sugar levies, (2) customs duties, (3) a 1 percent rate on each Member States' value added tax base, and (4) a resource on the basis of GNP. Currently, the Union is actively involved in the search for a fifth own revenue source. Therefore, the European Commission (DG XIX) has invited the authors to trace 'who pays the taxes'. As requested, our report gives a general account of methods to investigate impacts of taxation. More specifically, we have estimated the incidence of national tax systems (Germany, the Netherlands, Spain and the United Kingdom), and the incidence of present own resources and prospective new (tax) resources of the European Union. Up till now, such information was not (readily) available.tax incidence in the European Union, prospective new EU tax resources

Helicobacter pylori infection is associated with an increased rate of diabetes.

ObjectiveChronic infections could be contributing to the socioeconomic gradient in chronic diseases. Although chronic infections have been associated with increased levels of inflammatory cytokines and cardiovascular disease, there is limited evidence on how infections affect risk of diabetes.Research design and methodsWe examined the association between serological evidence of chronic viral and bacterial infections and incident diabetes in a prospective cohort of Latino elderly. We analyzed data on 782 individuals aged >60 years and diabetes-free in 1998-1999, whose blood was tested for antibodies to herpes simplex virus 1, varicella virus, cytomegalovirus, Helicobacter pylori, and Toxoplasma gondii and who were followed until June 2008. We used Cox proportional hazards regression to estimate the relative incidence rate of diabetes by serostatus, with adjustment for age, sex, education, cardiovascular disease, smoking, and cholesterol levels.ResultsIndividuals seropositive for herpes simplex virus 1, varicella virus, cytomegalovirus, and T. gondii did not show an increased rate of diabetes, whereas those who were seropositive for H. pylori at enrollment were 2.7 times more likely at any given time to develop diabetes than seronegative individuals (hazard ratio 2.69 [95% CI 1.10-6.60]). Controlling for insulin resistance, C-reactive protein and interleukin-6 did not attenuate the effect of H. pylori infection.ConclusionsWe demonstrated for the first time that H. pylori infection leads to an increased rate of incident diabetes in a prospective cohort study. Our findings implicate a potential role for antibiotic and gastrointestinal treatment in preventing diabetes

The distribution of effective tax burdens in four EU countries

National policymakers are increasingly aware that their tax policy options are constrained by international tax competition. Important features of national tax systems - notably the tax mix, tax rates and rules which define the tax base - will influence decisions of firms and individuals regarding the location and (re)structuring of economic activities. The aim of the present paper is twofold: Firstly, we detail the tax mix of four member states of the European Union (Germany, The Netherlands, Spain and United Kingdom). Secondly, the paper aims to trace the distribution of the tax burden over rich and poor households in these four countries. Although tax mix and tax rates differ considerably among the four countries included in the study, the distribution of tax burdens proves to be amazingly similar.Distribution of tax burden, European Union; tax mix of Germany, the Netherlands, Spain and United Kingdom