Effects of uncertain lifetime and annuity insurance on capital accumulation and growth

This paper studies the effects of uncertain lifetime on capitalaccumulation and growth and also the sensitivity of thoseeffects to the existence of a perfect annuities market. Themodel is an overlapping generations model with uncertainlifetimes. The technology is convex and such that the marginalproduct of capital is bounded away from zero. A contribution ofthis paper is to show that the existence of accidental bequestsmay lead the economy to an equilibrium that exhibits asymptoticgrowth, which is impossible in an economy with a perfect annuitiesmarket or with certain lifetimes. This paper also shows that ifindividuals face a positive probability of surviving in everyperiod, they may be willing to save at any age. This effect ofuncertain lifetime on savings may also lead the economy to anequilibrium exhibiting asymptotic growth even if there exists aperfect annuities market.

Turismo e Emigração: Quantificação das Despesas dos Emigrantes Durante a Sua Estada na Ilha de São Vicente

A mobilidade é uma característica que faz parte do Homem, e que tem vindo a acompanha-lo ao longo dos séculos, isto devido a busca incessante de melhores condições de vida. Assim, esta tem ganhado diversas formas e as migrações e o turismo constituem duas delas. Neste sentido, este trabalho tem como objectivo principal contribuir para quantificar as despesas que os emigrantes efectuam a quando da sua estada no seu país natal, isto é, as despesas do mercado turístico denominado de Visita a Familiares e Amigos (VFA). Assim pode-se concluir que os emigrantes efectuam durante a sua estada na ilha de São Vicente as maiores despesas totais por grupo, diárias por grupo e diárias por pessoa em Serviços pessoais, Telefone e outras comunicações, logo seguido das despesas em alimentação e bebidas. Em termos da estrutura das despesas propriamente dita estes efectuem as maiores despesas totais no destino, diárias por grupo e diárias por pessoa na aquisição de produtos alimentares em supermercados, take away ou fast food ou em outros estabelecimentos comerciais, seguido dos transportes, nomeadamente em alugueres de automóveis sem condutor (Renta-car), actividades recreativas, compras. Ainda este estudo permitiu concluir que nas visitas realizadas anteriormente a ilha, os emigrantes gastaram em média mais do que na actual viagem em despesas totais por grupo no destino.

A simple model of multiple equilibria based on risk

This paper shows how risk may aggravate fluctuations in economies with imperfect insurance and multiple assets. A two period job matching model is studied, in which risk averse agents act both as workers and as entrepreneurs. They choose between two types of investment: one type is riskless, while the other is a risky activity that creates jobs.Equilibrium is unique under full insurance. If investment is fully insured but unemployment risk is uninsured, then precautionary saving behavior dampens output fluctuations. However, if both investment and employment are uninsured, then an increase in unemployment gives agents an incentive to shift investment away from the risky asset, further increasing unemployment. This positive feedback may lead to multiple Pareto ranked equilibria. An overlapping generations version of the model may exhibit poverty traps or persistent multiplicity. Greater insurance is doubly beneficial in this context since it can both prevent multiplicity and promote risky investment.

Draft environmental report on Cape Verde

Faced with recurrent drought and famine during five centuries of human occupation, the small and densely populated Cape Verde Islands have a history of severe environmental problems. The arid climate and steep, rocky terrain provide scant resources for traditional subsistance farming under the best conditions, and in years of low rainfall the failure of rainfed crops causes massive food shortages. Agricultural use of steep slopes where rainfall is highest has led to soil erosion, as has removal of the island's vegetation for fuel and livestock. Pressure on the vegetation is particularly severe in dry years. International aid can provide relief from famine, and the introduction of modern agricultural and conservation techniques can improve the land and increase yield, but it is unlikely that Cape Verde can ever be entirely self -sufficient in food. Ultimately, the solution of Cape Verde's economic and environmental problems will probably require the development of productive urban jobs so the population can shift away from the intensive and destructive use of land for subsistance farming. In the meantime, the people of Cape Verde can best be served by instituting fundamental measures to conserve and restore the land so that it can be used to its fullest potential. The primary environmental problems in Cape Verde today are: 1. Soil degradation. Encouraged by brief but heavy rains and steep slopes, soil erosion is made worse by lack of vegetation. Soils are also low in organic matter due to the practice of completely removing crop plants and natural vegetation for food, fuel or livestock feed. 2. Water shortage. Brief and erratic rainfall in combination with rapid runoff makes surface water scarce and difficult to use. Groundwater supplies can be better developed but capabilities are poorly known and the complex nature of the geological substrate makes estimation difficult. Water is the critical limiting factor to the agricultural capability of the islands. 3. Fuel shortage. Demand for fuel is intense and has resulted in the virtual elimination of native vegetation. Fuelwood supplies are becoming more and more scarce and costly. Development of managed fuelwood plantations and alternate energy sources is required. 4. Inappropriate land use. Much of the land now used for raising crops or livestock is too steep or too arid for these purposes, causing erosion and destruction of vegetation. Improving yield in more appropriate areas and encouraging less damaging uses of the remaining marginal lands can help to alleviate this problem.

One hundred issues of Revista Española de Financiación y Contabilidad (REFC)-insights into trends in the Spanish academic community

From the year of its foundation, until the foundation of Revista deContabilidad in 1997, REFC has been the only referred accounting journalin Spain. Published by the Spanish Association for Accounting and BusinessAdministration (AECA), this journal is at the heart of the emergence ofa distinctly Spanish academic accounting community.Our study is based on:1. An analysis of 100 issues of REFC covering the period from 1985 to 1999.2. A questionnaire to Spanish accounting academics on their perceptionsand experience of the journal.Key points emerging from this study include:a) A move away from interest in accounting concepts and rules, as wellas accounting history, and towards positive accounting theory, the impactof accounting information on capital markets, and financial analysis.b) The emergence of a small number of universities as the driving forcein Spanish accounting research.c) Spanish academics rate REFC highly compared to other Spanish journalsfor publication status, as a support for research, and as a support forteaching. A number of English language journals are rated more highly forboth publication status and as a support for teaching.

Emigration of a colony of the leaf-cutting ant Acromyrmex heyeri Forel (Hymenoptera, Formicidae)

Emigration of a colony of the leaf-cutting ant Acromyrmex heyeri Forel (Hymenoptera, Formicidae). Colony migration is a poorly studied phenomenon in leaf-cutting ants. Here we report on the emigration of a colony of the leaf-cutting ant A. heyeri in Brazil. The colony emigrated to a new location 47.4 m away from the original nest site, possibly because it had undergone considerable stress due to competitive interactions with a colony of Acromyrmex crassispinus.

Protonation controls ASIC1a activity via coordinated movements in multiple domains.

Acid-sensing ion channels (ASICs) are neuronal Na(+)-conducting channels activated by extracellular acidification. ASICs are involved in pain sensation, expression of fear, and neurodegeneration after ischemic stroke. Functional ASICs are composed of three identical or homologous subunits, whose extracellular part has a handlike structure. Currently, it is unclear how protonation of residues in extracellular domains controls ASIC activity. Knowledge of these mechanisms would allow a rational development of drugs acting on ASICs. Protonation may induce conformational changes that control the position of the channel gate. We used voltage-clamp fluorometry with fluorophores attached to residues in different domains of ASIC1a to detect conformational changes. Comparison of the timing of fluorescence and current signals identified residues involved in movements that preceded desensitization and may therefore be associated with channel opening or early steps leading to desensitization. Other residues participated in movements intimately linked to desensitization and recovery from desensitization. Fluorescence signals of all mutants were detected at more alkaline pH than ionic currents. Their midpoint of pH dependence was close to that of steady-state desensitization, whereas the steepness of the pH fluorescence relationship was closer to that of current activation. A sequence of movements was observed upon acidification, and its backward movements during recovery from desensitization occurred in the reverse order, indicating that the individual steps are interdependent. Furthermore, the fluorescence signal of some labeled residues in the finger domain was strongly quenched by a Trp residue in the neighboring β-ball domain. Upon channel activation, their fluorescence intensity increased, indicating that the finger moved away from the β ball. This extensive analysis of activity-dependent conformational changes in ASICs sheds new light on the mechanisms by which protonation controls ASIC activity.

Extracção de areia na praia de Calhetona (Ilha de Santiago, Cabo Verde): causas, processos e consequências

A extracção clandestina de areia, nas faixas costeiras e nos leitos das ribeiras, tem sido prática de muitos agregados familiares cabo-verdianos. Nas últimas décadas, a praia de Calhetona (Ilha de Santiago) foi um dos muitos locais que sofreram degradação ambiental significativa, devido à realização desta actividade sem quaisquer planos de extracção e de posterior recuperação das áreas degradadas. Este trabalho, através da conjugação de recolha de dados por inquérito, observação directa e pesquisa documental e bibliográfica, teve como objectivos a caracterização da comunidade (que habita no bairro de Ponta Calhetona) que se dedica à extracção de areia na praia de Calhetona, a descrição da dinâmica da actividade extractiva, a avaliação da percepção que a comunidade tem relativamente às consequências da sua actividade e a descrição do impacte ambiental resultante da extracção de areia. Da análise dos inquéritos, efectuados em Fevereiro de 2012, a 25 chefes de agregados familiares que efectuam a extracção de areia na praia de Calhetona, constata-se que estes são maioritariamente mulheres, predominantemente com idade compreendida entre os 40 e os 59 anos, domésticas, com baixa escolaridade, com famílias numerosas e/ou alargadas a seu cargo e dedicando-se à extração de areia à mais de 10 anos. Os inquiridos, face à situação de vulnerabilidade económica, à falta de emprego e à grande procura de areia para a construção civil, vêem nesta actividade uma fonte de rendimento. Contudo, o proveito obtido desta actividade difícil e potencialmente perigosa é reduzido. Quem efectivamente beneficia são os camionistas que compram a areia a quem procede à extracção e a vendem ao consumidor final pelo dobro do preço. Os inquiridos demonstram uma consciência generalizada dos diversos impactes ambientais negativos resultantes da sua actividade, mas alegam que a extracção de areia é uma das poucas alternativas existentes para providenciar o sustento dos seus agregados familiares. Com base na comparação do estado actual da praia de Calhetona com relatos de habitantes locais, relativos às características da mesma no passado, verifica-se que nos últimos 40-50 anos, desde que se iniciou a intensa extracção de areia nesta praia, o seu aspecto físico se degradou claramente. Essa degradação caracteriza-se principalmente pelo recuo da linha de costa, pela quase ausência de areia e pela salinização dos solos localizados nas proximidades da praia, para além dos consequentes impactes negativos sobre a desova das tartarugas e o turismo balnear.

Extraction of soil water by plants: development and validation of a model

A quantitative model of water movement within the immediate vicinity of an individual root is developed and results of an experiment to validate the model are presented. The model is based on the assumption that the amount of water transpired by a plant in a certain period is replaced by an equal volume entering its root system during the same time. The model is based on the Darcy-Buckingham equation to calculate the soil water matric potential at any distance from a plant root as a function of parameters related to crop, soil and atmospheric conditions. The model output is compared against measurements of soil water depletion by rice roots monitored using γ-beam attenuation in a greenhouse of the Escola Superior de Agricultura "Luiz de Queiroz"/Universidade de São Paulo(ESALQ/USP) in Piracicaba, State of São Paulo, Brazil, in 1993. The experimental results are in agreement with the output from the model. Model simulations show that a single plant root is able to withdraw water from more than 0.1 m away within a few days. We therefore can assume that root distribution is a less important factor for soil water extraction efficiency.

Rolf Bernander (1956-2014): pioneer of the archaeal cell cycle.

On 19 January 2014 Rolf ('Roffe') Bernander passed away unexpectedly. Rolf was a dedicated scientist; his research aimed at unravelling the cell biology of the archaeal domain of life, especially cell cycle-related questions, but he also made important contributions in other areas of microbiology. Rolf had a professor position in the Molecular Evolution programme at Uppsala University, Sweden for about 8 years, and in January 2013 he became chair professor at the Department of Molecular Biosciences, The Wenner-Gren Institute at Stockholm University in Sweden. Rolf was an exceptional colleague and will be deeply missed by his family and friends, and the colleagues and co-workers that he leaves behind in the scientific community. He will be remembered for his endless enthusiasm for science, his analytical mind, and his quirky sense of humour.

Relaciones ontogénicas y espacio-temporales en la dieta del calamar gigante (Dosidicus gigas) en Perú, utilizando un Modelo Aditivo Generalizado

El calamar gigante Dosidicus gigas (d'Orbigny, 1835) es un depredador importante en el ecosistema del Perú. Se postula que el papel del calamar gigante varía teniendo en cuenta la talla, tiempo, hora, temperatura y distribución espacial. Para comprobar esta hipótesis se aplicó un modelo aditivo generalizado (GAM) en datos biológicos de alimentación de 4178 calamares gigantes capturados por la flota industrial pesquera a lo largo del litoral peruano (3ºS a 18ºS) desde 2 a 299 millas náuticas (mn) de distancia a la costa desde el año 2004 a 2009 realizados por el Laboratorio de Ecología Trófica del Instituto del Mar del Perú (IMARPE). La talla de los calamares estudiados fluctuó entre 14 y 112 cm de longitud de manto (LM). En total 43 item-presa fueron registrados, los grupos más importantes fueron los cefalópodos (Dosidicus gigas), Teleosteii (Photichthyidae, Myctophidae y Nomeidae) y Malacostraca crustáceos (Euphausiidae). Las presas principales fueron D. gigas (indicando canibalismo) en términos gravimétricos (% W=35.4), los otros cephalopodos en frecuencia de ocurrencia (FO=14.4), y los eufáusidos en términos de abundancia relativa (% N=62.2). Estos resultados reflejan una alta variabilidad de la dieta, y un espectro trófico similar en comparación con otras latitudes en ambos hemisferios (México y Chile). Los modelos GAM muestran que todas las variables predictoras fueron significativas en relación a la variable respuesta llenura estomacal (p <0.0001). La llenura estomacal fue mayor en los individuos juveniles, también durante la noche hubo mayor consumo, mientras no se reflejaron tendencias en la alimentación con relación a la temperatura superficial del mar (TSM), pero espacialmente se observan cambios en la dieta, aumentando el porcentaje de llenura a medida que esta especie se aleja de la costa. Por lo tanto se concluye que la dieta del calamar gigante depende de la talla y su distribución espacio-temporal.

Projectes de modelatge i simulació avançada de sistemes mitjançant l'entorn ARENA

RESUM En l’exercici de les funcions típiques de qualsevol activitat humana, l’home ha de prendre decisions d’un o altre tipus permanentment i aquesta situació porta afegit, per lo general risc i incertesa, el que compromet la qualitat i l’èxit de la decisió. Per ajudar i contrarestar aquesta situació, l’home ha desenvolupat a través del temps una diversitat d’eines que li permeten minimitzar el risc i la incertesa en la presa de decisions. La simulació és una d’aquestes eines. Mitjançant la seva aplicació no només s’aconsegueix la comesa anterior, sinó que també es minimitzen els costos involucrats en la decisió mitjançant un millor ús dels recursos, la disminució del temps emprat per a la seva realització i la minimització de les probabilitats de risc. Aquest projecte representa la continuació d’un primer estudi introductori de la simulació anomenat: Estudi i guia docent per a modelatge i simulació de sistemes mitjançant l’entorn ARENA [9]. Realitzat per l’alumna d’Enginyeria en Organització Industrial de la Universitat de Vic, Montse Carbonell Crosas, l’any 2008 i sota la codirecció del director d’aquest segon projecte, el professor Juli Ordeix Rigo. Aquest nou projecte s’inicia amb una primera part teòrica, continguda dins del primer volum, la qual reforça els conceptes teòrics referents a la simulació amb ARENA, ja vistos en l’anterior projecte. Complementant aquells considerats bàsics i els de més utilitat i finalitza introduint nous conceptes avançats. Els nous capítols de temàtica avançada, junt als primers més bàsics de la primera part són exercitats dins de la segona, formant el segon volum d’aquest projecte. El mateix requereix la participació activa de l’alumne, per tal de realitzar cadascun dels 89 exercicis pràctics que es plantegen i poder onsolidar l’aprenentatge teòric d’aquesta eina avançada de simulació fent consultes als apartats teòrics recomanats dins de cada exercici. La complexitat dels exercicis anirà augmentant gradualment i s’insisteix en seguir la metodologia presentada en el projecte per a realitzar-los tots de forma ordenada i ascendent. L’ alumne quan acabi la part pràctica, haurà consolidat tota la part teòrica i serà capaç d’exercir com analista per tal de generar els seus propis projecte de simulació.

Crystal structure of yeast peroxisomal multifunctional enzyme: structural basis for substrate specificity of (3R)-hydroxyacyl-CoA dehydrogenase units.

(3R)-hydroxyacyl-CoA dehydrogenase is part of multifunctional enzyme type 2 (MFE-2) of peroxisomal fatty acid beta-oxidation. The MFE-2 protein from yeasts contains in the same polypeptide chain two dehydrogenases (A and B), which possess difference in substrate specificity. The crystal structure of Candida tropicalis (3R)-hydroxyacyl-CoA dehydrogenase AB heterodimer, consisting of dehydrogenase A and B, determined at the resolution of 2.2A, shows overall similarity with the prototypic counterpart from rat, but also important differences that explain the substrate specificity differences observed. Docking studies suggest that dehydrogenase A binds the hydrophobic fatty acyl chain of a medium-chain-length ((3R)-OH-C10) substrate as bent into the binding pocket, whereas the short-chain substrates are dislocated by two mechanisms: (i) a short-chain-length 3-hydroxyacyl group ((3R)-OH-C4) does not reach the hydrophobic contacts needed for anchoring the substrate into the active site; and (ii) Leu44 in the loop above the NAD(+) cofactor attracts short-chain-length substrates away from the active site. Dehydrogenase B, which can use a (3R)-OH-C4 substrate, has a more shallow binding pocket and the substrate is correctly placed for catalysis. Based on the current structure, and together with the structure of the 2-enoyl-CoA hydratase 2 unit of yeast MFE-2 it becomes obvious that in yeast and mammalian MFE-2s, despite basically identical functional domains, the assembly of these domains into a mature, dimeric multifunctional enzyme is very different.

Animal Tissue Response To Mid-Term Electronic Modular Artificial Sphincter Implantation

Introduction and objectives: The AMS 800TM is considered the gold standard for sphincter replacement. However, the one-ring design can erode the urethra and lead to severe complications. A mechanism that could alternatively compress successive segments of the urethra would limit such deleterious outcome. We report 12 weeks animal urethral tissue analysis following implantation of a new modular artificial sphincter. METHODS: The device is composed by three parts: the contractile unit, two rings and an integrated microprocessor. The contractile unit is made of Nitinol fibers. The rings are placed around the urethra to control the flow of urine by squeezing the urethra. They work in a sequential alternative mode and are controlled by a microprocessor connected to an external computer. The computer can reveal specific failure of device components. The device was impkanted in eight male sheep. The rings were positioned around the urethra and the control unit was placed 5cm away. The device was working twenty hours per day; it was open 10min. per hour to allow urination. The animals were sacrificed after 12 weeks. The urethra and the tissues surrounding the control unit were macroscopically and microscopically examined. Two transversal sections crossing the sphincter and two transversal sections crossing the urethra alone were obtained and stained with modified Paragon after resin embedding. Urethra was also embedded in paraffin. The first section was stained with safranin-hematoxylin-eosin, the second section was stained with Masson's Trichrome and the remaining eight sections were available for immunolabelling of the macrophages.Results: The chronic study went uneventful. No clinical infection or pain was observed. The computer registered no specific failure in ring function, Nitinol wires and tube connectors. At explantation, except for a slight grade of lymphocytes in two out of eight specimens, no urethral stricture or atrophy could be observed. Immunohistochemistry confirmed the absence of macrophages. Tissue structure and organization of the urethra with and without artificial sphincter were similar. No migration of the device was observed.Conclusions: The study clearly showed no tissue damage or inflammation of the urethra. Electronic design, preservation of urethral vascularisation and adjustability after implantation are the key ideas to improve the actual AUS. Further studies will be carried out to evaluate this potential.

Status of Females in the Juvenile Justice System Iowa, 2009

Young women in the juvenile justice system present with characteristics and experiences that differentiate them from their male counterparts. As such, the juvenile justice system in Iowa must consider these factors if it is to effectively and efficiently impact recidivism, rehabilitation and public safety. Data reveal the following trends: All youth in the juvenile justice system experience a significantly higher rate of child maltreatment than do youth in the general population. Additionally, young women have a distinctly higher percentage of reported sexual abuse. Young women commit primarily non-violent offenses, with shoplifting and running away being the only two areas where they exceed young men in number. Young women are held in detention for a substantially higher percentage of misdemeanor versus felony offenses than young men. Young women of color, particularly African American females, are far more likely to come into contact with the juvenile justice system. Additionally, arrests of minority females have increased during the same time frame as arrests of Caucasian females have decreased. The general type of offense committed by young women is against public order (i.e. alcohol related violations, disorderly conduct) or property (i.e. shoplifting), though young women with subsequent charges of a violent nature are likely to have had violent offenses initially as well. Historically, young women have been a smaller segment of the juvenile justice population. They remain so today. Consequently, they are easy to overlook. But Iowa’s response to them is no less important. Perhaps, because they are fewer in number, our system can have a true and meaningful influence, with prevention of further penetration into both the juvenile and adult systems being the ultimate goal. The Iowa Task Force on Young Women recommends the following measures to facilitate movement toward that goal: 1. Facilities and programs striving to provide the most effective and efficient services to young women will opt for single gender environments with female responsive programming that includes components to address trauma. 2. All institutions and agencies that work with females involved in the juvenile justice system and which receive state funding should be required to provide annual female responsive training to their employees. Training should be research based, progressive, ongoing and result in an implementation plan. 3. As detention reform proceeds, gender and the disproportionate number of females in detention for misdemeanor offenses must be an integral part of policy and decision making discussions including any recommendations for solutions to be implemented. 4. As research, data and planning progresses related to disproportionate minority contact with the juvenile system, the needs of girls of color be given equal consideration. Specifically, assessment tools must be without race/ethnic bias and they must also be female responsive.