Miracle-dz/UniFAR-FTUs huggingface dataset:
Second-Best Income Taxation with Endogenous Human Capital and Borrowing Constraints

We formulate a two-period life-cycle model of saving, labor supply, and human capital investments when individuals differ in ability and initial wealth. Borrowing constraints prevent individuals to optimally smooth consumption over the life-cycle and to optimally invest in human capital. We show that the optimal linear income tax is positive - even in the absence of any redistributional concerns. A progressive income tax is efficient because it relaxes borrowing constraints by redistributing resources from the unconstrained to the borrowing constrained stages of the life-cycle. Hence, consumption is smoothed better and investments in human capital increase. The progressive income tax is a second-best instrument to correct the non-tax distortion in the capital market. The equity-efficiency trade-off is therefore less severe when progressive income taxes mitigate capital market imperfections. Simulations demonstrate that optimal income taxes are substantially higher when they alleviate credit constraints.
Identification and Estimation in an Incoherent Model of Contagion

This paper deals with the issues of identification and estimation in the canonical model of contagion advanced in Pesaran and Pick (2007). The model is a two-equation nonlinear simultaneous equations system with endogenous dummy variables; it also represents an extension of univariate threshold autoregressive (TAR) models to a simultaneous equations framework. For a range of economic fundamentals, the model produces multiple (i.e. two) equilibria, and the choice of the equilibrium is modelled as being driven by a Bernoulli process; further, the presence of multiple equilibria leads to an incoherent econometric specification. The coherency issue is then reflected in the analytical expression for the likelihood function derived in the paper. It is proved that neither identification nor Full Information Maximum Likelihood (FIML) estimation of the model require knowledge of the Bernoulli process driving the solution choice in the multiple equilibria region. Monte Carlo experiments show that the FIML estimator performs better than the GIVE estimators proposed in Pesaran and Pick (2007). Finally, an empirical illustration based on stock market returns is provided.
Current Global Imbalances and the Keynes Plan: A Keynesian Approach for Reforming the International Monetary System

This paper proposes a “logical experiment”, illustrating how alternative international monetary systems may produce opposite results in the global economy. In the current organisation, “key currencies” work as international money. Keynes, by contrast, proposed that this role should be assigned to a supranational, “credit” money. While the world currently lives in an asymmetric regime, which lead to what has been defined as a “balance of financial terror”, Keynes tried to achieve a more peaceful type of “international balance”. I argue that the structural reform and the technical provisions proposed by the “Keynes Plan” may still – at least in principle – provide useful remedies for international disequilibria, by remedying the asymmetries of the current international payments architecture and helping to curb both inflationary and deflationary pressures on the world economy.
Essays on risk management and systematic risk

Through the creation of the Financial Stability Board (FSB), G20 members have committed to regulate the financial sector across the globe in order to enhance the resilience of the system. Two important points in this agenda are the regulation of OTC derivatives, such as Credit Default Swaps (CDS) and the regulation of Systemically Important Financial Institutions (SIFIs). The first two chapters of this thesis relate to the first point. These papers study the effects of the use of CDS at banks on banks' behavior and stability. The last chapter of the thesis addresses the second point. This chapter discusses the proper assessment of systemic risk, and the characteristics and performance of systemically important banks based on this assessment.
The Collaborating Planner?: Practitioners in the Neoliberal Age

© Ben Clifford and Mark Tewdwr-Jones 2013. Since the turn of the 21st century, there has been a greater pace of reform to planning in Britain than at any other time. As a public sector activity, planning has also been impacted heavily by the wider changes in the way we are governed. Yet whilst such reform has been extensively commented upon within academia, few have empirically explored how these changes are manifesting themselves in planning practice. This book aims to understand how both specific planning and broader public sector reforms have been experienced and understood by chartered town planners working in local authorities across Great Britain. After setting out the reform context, successive chapters then map responses across the profession to the implementation of spatial planning, to targets, to public participation and to the idea of a ‘customer-focused’ planning, and to attempts to change the culture of planning. Each chapter outlines the reaction by the profession to reforms promoted by successive central and devolved governments over the last decade, before considering the broader issues of what this tells us about how modernisation is rolled-out by frontline public servants. This accessible book fills a gap in the market and makes ideal reading for students and researchers interested in the UK planning system.
Earnings Inequality and Transition: A Regional Analysis of Poland

In this paper we estimate the impact of transition on earnings inequality using data across Polish regions 1994-1997. Our central result is that earnings inequality is higher in regions that are more advanced in restructuring (higher labour productivity/job reallocation rates), controlling for unobservable regional fixed effects. At the national level rapid growth does not seem to be associated with earnings inequality. This aggregate relationship is shown to be misleading. The positive relationship between earnings inequality and the stage of transition across regions remains when we apply an infrastructure-deficit based instrumental variable approach to allow for reverse causality.
HLA-DRB1* alleles and symptoms associated with Heerfordt's syndrome in sarcoidosis

Heerfordt's syndrome (HS) consists in its complete form of uveitis, parotid or salivary gland enlargement and cranial nerve palsy. The objective of the present study was to analyse if there are also links between HLA-DRB1* alleles and HS, as it is a specific phenotype of sarcoidosis. 1,000 patients with sarcoidosis, out of whom 83 had symptoms associated with HS, were included in the study together with a group of 2,000 healthy individuals from the same population, matched for sex and age. HLA-DRB1* allelic groups were determined for all individuals, and comparisons were made between different disease subgroups and between patients and healthy controls. We found that the HLA-DRB1*04 allele was overrepresented in patients with symptoms associated with HS. 83 (8.3%) of all patients had one or more of the symptoms and 46 (55%) of them were HLA-DRB1*04 positive. 44 (55%) of the patients with ocular sarcoidosis, i.e. the most common symptom associated with HS, were HLA-DRB1*04 positive, compared with 35.9% of healthy controls (p=0.0008), and only 26.6% of the whole group of sarcoidosis patients (p<0.0001). HLA-DRB1*04 seems to protect against overall sarcoidosis but appears to be a significant risk factor for ocular sarcoidosis as well as for other manifestations associated with HS.
1 Innovation Activity in the Indian Software Industry

The study primarily investigated whether there has been a tangible shift in the activities of the Indian software firms towards higher end of the value chain and factors that helped the firms to make transitions. The objectives were examined by broad examination of thirty nine software firms and deeper investigation based on case study of three firms derived from the above selected firms. It was found that firms are active in different areas/subareas of software industry including the embedded software segment. The firms obtained various types of quality certifications but these certifications were mainly restricted to process standards. Acquisitions and joint ventures were exposing firms to new knowledge, new hardware and software platforms. It has also helped the firms to move into niche areas and enter new markets. Linkages between firms and with academia were also important factors in firm’s enhancement. From the case study it was possible to discern how the firms are developing capabilities. The three firms show that they have evolved over a period of time, moving from simple to complex operations mainly through incremental innovations. The study shows that among the thirty nine firms, a few firms have significantly moved up the value chain. Nevertheless, it is important as it shows that a few of them have broken away from the mould and achieved success.
Physiologic Stresses Reveal a Salmonella Persister State and TA Family Toxins Modulate Tolerance to These Stresses

Bacterial persister cells are considered a basis for chronic infections and relapse caused by bacterial pathogens. Persisters are phenotypic variants characterized by low metabolic activity and slow or no replication. This low metabolic state increases pathogen tolerance to antibiotics and host immune defenses that target actively growing cells. In this study we demonstrate that within a population of Salmonella enterica serotype Typhimurium, a small percentage of bacteria are reversibly tolerant to specific stressors that mimic the macrophage host environment. Numerous studies show that Toxin-Antitoxin (TA) systems contribute to persister states, based on toxin inhibition of bacterial metabolism or growth. To identify toxins that may promote a persister state in response to host-associated stressors, we analyzed the six TA loci specific to S. enterica serotypes that cause systemic infection in mammals, including five RelBE family members and one VapBC member. Deletion of TA loci increased or decreased tolerance depending on the stress conditions. Similarly, exogenous expression of toxins had mixed effects on bacterial survival in response to stress. In macrophages, S. Typhimurium induced expression of three of the toxins examined. These observations indicate that distinct toxin family members have protective capabilities for specific stressors but also suggest that TA loci have both positive and negative effects on tolerance.
Effect of renal impairment on the pharmacokinetics of exenatide

What is already known about this subject Nonclinical studies have shown that exenatide is primarily cleared by the renal system. It was not known to what degree the clinical pharmacokinetics and tolerability would be affected by increasing renal impairment (RI). What this study adds Patients with mild to moderate RI adequately tolerate current therapeutic doses of exenatide. However, exenatide is not recommended in patients with severe RI or end-stage renal disease. Aims To evaluate the pharmacokinetics (PK), safety and tolerability of a single exenatide dose in patients with renal impairment (RI). Methods Exenatide (5 or 10 µg) was injected subcutaneously in 31 subjects (one with Type 2 diabetes) stratified by renal function [Cockcroft–Gault creatinine clearance (CrCL), number of subjects]: normal (>80 ml min−1, n = 8), mild RI (51–80 ml min−1, n = 8), moderate RI (31–50 ml min−1, n = 7) or end-stage renal disease (ESRD) requiring haemodialysis (n = 8). PK data were combined with four previous single-dose studies in patients with Type 2 diabetes to explore the relationship of exenatide clearance (CLp/F) and CrCL. Results Mean half-life for healthy, mild RI, moderate RI and ESRD groups were 1.5, 2.1, 3.2 and 6.0 h, respectively. After combining data from multiple studies, least squares geometric means for CLp/F in subjects with normal renal function, mild RI, moderate RI and ESRD were 8.14, 5.19, 7.11 and 1.3 l h−1, respectively. Exenatide was generally well tolerated in the mild and moderate RI groups, but not in subjects with ESRD due to nausea and vomiting. Simulations of exenatide plasma concentrations also suggest patients with ESRD should have a propensity for poor tolerability at the lowest available therapeutic dosage (5 µg q.d.). Conclusions Since tolerability and PK changes were considered clinically acceptable in patients with mild to moderate RI, it would be appropriate to administer exenatide to these patients without dosage adjustment. However, poor tolerability and significant changes in PK make the currently available therapeutic doses (5 and 10 µg) unsuitable in severe RI or ESRD.
Understanding the Crisis in Emerging Europe

Emerging Europe experienced larger output declines during the 2008-09 crisis than any other region in the world. However, some countries suffered much smaller declines than others; major balance-of-payments crises and banking collapses were avoided; and economic policy reactions stayed well clear of populist and confiscatory measures experienced in previous crises. The paper argues that this can be attributed to European economic and political integration. It shows that foreign bank ownership was a mitigating factor in the output decline, and that more than half of the cross-country variation in output decline can be explained by a small group of macroeconomic vulnerabilities.
Payroll Taxes in Colombia

This paper analyses these payroll taxes, focusing specially on what is called the "parafiscales". The parafiscales are defined by Artivle 2 of Law 225 (1995) as "mandatory taxes established by law, which affect a certain and unique social or economic group and are used for the benefit of the same sector".
QoS Issues in IEEE 802.16 Mesh Network

The IEEE 802.16 mesh network is a promising next generation wireless backbone network. One fundamental issue in IEEE 802.16 mesh networks is QoS provisioning. Although IEEE 802.16 standard has made certain efforts to address this issue, many technical problems still exist in this field. In this article, we present a detailed investigation of QoS issues in IEEE 802.16 mesh networks in order to provide a better understanding of the research challenges of QoS provisioning under Mesh mode. We also try to provide a rudimentary overview of several key proposals in the relevant literature.
A physical model for the hard X-ray background

We combine a semi-analytic galaxy formation model with a prescription for the obscured growth of massive black holes, to reproduce the hard X-ray background (XRB), the local 2–10 keV active galactic nuclei (AGN) luminosity function and the source counts, including recent Chandra results. The model also complies with constraints on the AGN contribution to the far-infrared and submillimetre backgrounds. The comoving density of luminous AGN in the unabsorbed rest-frame] in the model declines sharply since mimicking the observed evolution of the quasar population. The abundance of lower luminosity AGN simultaneously increases, and we identify such objects with the Seyfert galaxies. These features reflect an epoch-dependent rate of Bondi accretion from the hot, cooling atmosphere: at most AGN are fed at much less than 10 per cent of the Eddington rate, whilst at most accrete at 10–50 per cent Eddington. Unlike other models for quasar and galaxy formation, we do not consider major mergers between normal galaxies. The model produces an excess soft XRB below 4 keV which can be removed by modifying the wind expulsion model of Fabian to incorporate anisotropic ejection.
Diagnostic accuracy of high-risk HPV genotyping in women with high-grade cervical lesions: evidence for improving the cervical cancer screening strategy in China

Currently, clinical data for primary HPV screening alone are lacking in China. Here, we evaluate cervical cancer screening with primary HPV genotyping, as well as possible future screening strategy. Overall, high-risk HPV (hrHPV) prevalence was 18.2% among hospital-based population in Taizhou area. For cervical intraepithelial neoplasia 2 or worse (CIN2+), the sensitivity of primary hrHPV genotyping strategy and current cervical cancer screening strategy were 93.5%, and 71.1%, respectively; whereas the specificity was 17.5%, and 62.4%, respectively. Current cervical screening strategy had slightly higher positive predictive values (28.4%) for CIN2+ than hrHPV genotyping strategy (21.9%), whereas primary hrHPV genotyping strategy demonstrated higher negative predictive values (94.7%) than current cervical screening strategy (91.1%). Compared to HPV35/39/45/51/56/59/66/68 genotypes, the odds ratios (OR) for CIN2+ in HPV16/18/31/33/52/58 infection women were 3.2 (95% confidence interval [CI] 2.3-4.1). Primary hrHPV genotyping strategy provides a better predictive value than HPV16/18 genotyping alone in guiding the clinical management of the current cervical cancer screening. HPV testing without adjunctive cytology may be sufficiently sensitive for primary cervical cancer screening.
Individual Responsibility and Economic Development: Evidence from Rainfall Data

This paper estimates the effect of individual responsibility on economic development using an instrument derived from rainfall data. I argue that a taste for collective responsibility was adaptive in preindustrial societies that were exposed to high levels of agricultural risk, and that these attitude continue to influence contemporary social norms. The link between agricultural risk and collective responsibility is formalized in a model of informal risk sharing arrangements that incorporates optimal parental socialization decisions. Empirically, I find a robust negative correlation between rainfall variation, a measure of exogenous agricultural risk, and measures of individual responsibility. Finally, using rainfall variation as an instrument, I find that individual responsibility has a large positive effect on economic development. The empirical relationships between rainfall variation, individual responsibility and economic development are robust to the use of alternative measures of individualism and rainfall variation and to the inclusion of controls for contemporary and historical agricultural outcomes, soil and climate quality, early institutional quality, and dimensions of climate and geography associated with institutional development.
Are Changes in Worry Associated with Treatment Response in Cognitive Behavioral Therapy for Insomnia?

Aim: Little is known about why some patients respond to cognitive behavioral therapy for insomnia, whereas other patients do not. To understand differences in treatment response, there is a dire need to examine processes of change. The purpose was to investigate the long-term association between insomnia-related worry and outcomes following cognitive behavior therapy for insomnia. Methods: Sixty patients with early insomnia (3–12 months duration) received group cognitive behavioral therapy for insomnia. At pretreatment and at a 1-year follow-up, the patients completed questionnaires indexing two domains of insomnia-related worry (sleeplessness and health), insomnia severity, anxiety, and depression as well as sleep diaries. Results: Decreases in the two worry domains were associated with improvements in all of the outcomes, except for sleep onset latency (SOL), at a medium to large level. Reductions in insomnia-related worry were associated with improvements in insomnia severity, wake after sleep onset (WASO), total sleep time (TST), and depression, but not in SOL or anxiety. While reductions in worry for sleeplessness were related to improvements in insomnia severity and TST, decreases in worry for health were associated with enhancements in WASO and depression. Conclusion: The findings suggest that reductions in insomnia-related worry might be one process route in which cognitive behavioral therapy operates to improve insomnia symptomatology. The results are discussed in relation to theory, clinical implications, and future research.
ERC: A Theory of Equity, Reciprocity, and Competition

We demonstrate that a simple model, constructed on the premise that people are motivated by both their pecuniary payoff and their relative payoff standing, organizes a large and seemingly disparate set of laboratory observations as one consistent pattern. The model is incomplete information but nevertheless posed entirely in terms of directly observable variables. The model explains observations from games where equity is thought to be a factor, such as ultimatum and dictator, games where reciprocity is thought to play a role, such as the prisoner's dilemma and gift exchange, and games where competitive behavior is observed, such as Bertrand markets.
Internal migration and urban employment in the third world

For more than a decade Michael Todaros model has provided a widely accepted theoretical framework for explaining the massive flows of rural urban migration that are observed in many Third World countries. This paper however presents data amassed from a wide range of countries to highlight a crucial shortcoming of that model. It will be shown that far from being general in nature the Todaro approach is limited to explaining the movement of persons possessed of sufficient human capital to qualify them for modern sector employment.The present work utilizes the perspective of the urban subsistence sector to develop a model that serves as a useful complement to that of Todaro. (EXCERPT)
Vertical integration, tying, and antitrust policy

Formal proof is presented of an earlier article (Northwestern Univ. Law Rev., 55; 62-95 (Apr. 1960)) in which Meyer Burstein argued that the variable-proportions incentive for vertical integration has relevance for antitrust enforcement. Burstein's proposition also argued that there are alternatives to vertical integration by tying nonmonopolized inputs. It also implies that the economic effects of vertical integration and tying are identical, which raises the question of why the two are treated differently by present antitrust laws. Both are found to improve downstream production efficiency, although the new welfare effects are ambiguous. 16 references.
The Four Unions 'PIE' on the Monetary Union 'CHERRY': A New Index of European Institutional Integration

This paper presents a European Index of Regional Institutional Integration (EURII), which maps developments in European integration from 1958 to 2014 on the basis of a monthly dataset. EURII captures what we call: (i) the “Common Market Era”, which lasted from 1958 until 1993; and (ii) the first twenty years of the “Union Era” that started in 1994, but gained new impetus in response to the euro area crisis. The paper complements the economic narratives of the crisis with an institutional approach highlighting the remedies to the flaws in the initial design of Economic and Monetary Union (EMU). In fact, since 2010, EMU’s institutional framework has been substantially reformed. While work on EMU’s new governance is still in progress, the broad contours of a “genuine union” have been outlined in the Four Presidents’ Report of December 2012. The report envisages a more effective economic union, a fiscal union, a financial union, and a commensurate political union. The aim of the EURII index is threefold: (i) to provide a tool to synthesise and monitor the process of European institutional integration since 1958 and, in particular, track institutional reforms since 2010; (ii) to expand a previous integration index by showing that monetary unification – which was initially understood as “the cherry on the Internal Market pie” – implied a major discontinuity in the process and nature of European integration, that is, a new “pie on the cherry”; and (iii) to offer a tool for further research, policy analysis and communication. JEL Classification: F33, F42, N24