Optimal debt, endogenous fertility, and human capital externalities in a model with altruistic bequests

and human capital externalities. Because of such externalities, education investment is too low and fertility is too high. While education subsidies are the conventional means to deal with these problems, we show that the optimal policy also comprises debt even when distortionary taxes are used. The reason is that debt tips the usual trade-off between children's quantity and quality in favor of the latter by increasing the bequest cost of children. The optimal debt-output ratio exceeds 10% for plausible parameterization. (C) 2002 Elsevier B.V. All rights reserved.

Industry-specific human capital, knowledge labour, and industry wage structure in Taiwan

This paper investigates the role of industry-specific human capital (ISHC) in determining industry wage structure. The model presented in this paper distinguishes between knowledge labour and physical labour. Knowledge labour is physical labour embodied with ISHC. It is postulated that more ISHC-intensive industries, such as high-tech industries, pay higher wages and the wage premiums increase with workers' experience. The hypothesis is tested using a merged sample of 1997 - 1999 manpower utilization survey data from a newly industrialized economy - Taiwan. The findings show support for the effect of ISHC.

Searching oligo sets of human chromosome 12 using evolutionary strategies

DNA Microarray is a powerful tool to measure the level of a mixed population of nucleic acids at one time, which has great impact in many aspects of life sciences research. In order to distinguish nucleic acids with very similar composition by hybridization, it is necessary to design microarray probes with high specificities and sensitivities. Highly specific probes correspond to probes having unique DNA sequences; whereas highly sensitive probes correspond to those with melting temperature within a desired range and having no secondary structure. The selection of these probes from a set of functional DNA sequences (exons) constitutes a computationally expensive discrete non-linear search problem. We delegate the search task to a simple yet effective Evolution Strategy algorithm. The computational efficiency is also greatly improved by making use of an available bioinformatics tool.

Global standard for the composition of infant formula: Recommendations of an ESPGHAN coordinated international expert group

The Codex Alimentarius Commission of the Food and Agriculture Organization of the United Nations (FAO) and the World Health Organization (WHO) develops food standards, guidelines and related texts for protecting consumer health and ensuring fair trade practices globally. The major part of the world's population lives in more than 160 countries that are members of the Codex Alimentarius. The Codex Standard on Infant Formula was adopted in 1981 based on scientific knowledge available in the 1970s and is currently being revised. As part of this process, the Codex Committee on Nutrition and Foods for Special Dietary Uses asked the ESPGHAN Committee on Nutrition to initiate a consultation process with the international scientific community to provide a proposal on nutrient levels in infant formulae, based on scientific analysis and taking into account existing scientific reports on the subject. ESPGHAN accepted the request and, in collaboration with its sister societies in the Federation of International Societies on Pediatric Gastroenterology, Hepatology and Nutrition, invited highly qualified experts in the area of infant nutrition to form an International Expert Group (IEG) to review the issues raised. The group arrived at recommendations on the compositional requirements for a global infant formula standard which are reported here.

Income Ranking and convergence with physical and human capital and income equality

This paper presents an overlapping generations model with physical and human capital and income inequality. It shows that inequality impedes output growth by directly harming capital accumulation and indirectly raising the ratio of physical to human capital. The convergence speed of output growth equals the lower of the convergence speeds of the relative capital ratio and inequality, and varies with initial states. Among economies with the same balanced growth rate but different initial income levels, the ranking of income can switch in favor of those starting from low inequality and a low ratio of physical to human capital, particularly if the growth rate converges slowly. (C) 2004 Elsevier B.V. All rights reserved.

A new estimate for the composition of weathered young upper continental crust from alluvial sediments, Queensland, Australia

We present new major element, trace element and Nd-isotope data for 30 alluvial sediments collected from 25 rivers in Queensland, E Australia. Samples were chosen to represent drainage from the region's most important lithologies, including Tertiary intraplate volcanic rocks, a Cretaceous igneous province (and sedimentary rocks derived thereof) as well as Proterozoic blocks. In most chemical and isotopic aspects, the alluvial sediments represent binary or ternary mixing relationships, with absolute abundances implied to reflect the proportion of lithologies in the catchments. When averaged, the studied sediments differ from other proxies of upper continental crust (UCC) mainly in their relative middle rare earth element enrichment (including an elevated Sm/Nd ratio), higher relative Eu abundance and higher Nb/Ta ratio. These features are inherited from eroded Tertiary intraplate basalts, which commonly form topographic highs in the studied region. Despite the high degree of weathering strong to excellent coherence between similarly incompatible elements is found for all samples. From this coherence, we suggest revisions of the following upper crustal element ratios: Y/Ho = 26.2, Yb/Tm = 6.37, Th/W = 7.14, Th/Tl = 24 and Zr/Hf = 36.9. Lithium, Rb, Cs and Be contents do not seem depleted relative to UCC, which may reflect paucity of K-feldspar in the eroded catchments. Nickel, Cr, Pb, Cu and Zn concentrations are elevated in polluted rivers surrounding the state capital. River sediments in the Proterozoic Georgetown Inlier are elevated in Pb, Cu and Zn but this could be a natural phenomenon reflecting abundant sulphide mineralisation in the area. Except for relative Sr concentrations, which broadly anticorrelate with mean annual rainfall in catchments, there is no obvious relationship between the extent of weathering and climate types, which range from and to tropical. The most likely explanation for this observation is that the weathering profiles in many catchments are several Myr old, established during the much wetter Miocene period. The studied sediment compositions (excluding those from the Proterozoic catchments) are used to propose a new trace element normalisation termed MUQ (MUd from Queensland), which serves as an alternative to UCC proxies derived from sedimentary rocks. Copyright (C) 2005 Elsevier Ltd

Second-best public debt with human capital externalities

This paper studies optinnal public debt in a dynastic model with human capital externalities that cause human capital investment (fertility) to be below (above) its socially optimal level. By reducing fertility and raising human capital investment, the optimal debt can exceed 10% of output for plausible parameterizations.

Searching oligo sets of human chromosome 12 using evolutionary strategies

DNA microarray is a powerful tool to measure the level of a mixed population of nucleic acids at one time, which has great impact in many aspects of life sciences research. In order to distinguish nucleic acids with very similar composition by hybridization, it is necessary to design probes with high specificities, i.e. uniqueness, and also sensitivities, i.e., suitable melting temperature and no secondary structure. We make use of available biology tools to gain necessary sequence information of human chromosome 12, and combined with evolutionary strategy (ES) to find unique subsequences representing all predicted exons. The results are presented and discussed.