In this paper, we are interested in the influence of labor market structure and wage differential on the occurrence of endogenous fluctuations. For this purpose, we introduce a dual labor market in ...an overlapping generations model. In the first sector, the wage comes from bargaining between producers and unions, whereas the wage is perfectly competitive in the other sector. In this framework, we compare the conditions for indeterminacy with respect to two different bargaining processes: the right-to-manage model and the efficiency bargaining model. We show that not only the labor market structure and the union bargaining power have an influence on local indeterminacy, but also the technological features. Indeed, when the capital share is greater in the non-unionized sector, indeterminacy always occurs whatever the bargaining process. On the contrary, when the capital share is greater in the unionized sector, indeterminacy emerges only in the efficiency bargaining model with a high enough union bargaining power.
Abstract only
Background:
In clinical trials, statins reduce the incidence of strokes. It has been proposed that such effect is independent of cholesterol lowering and best explained by alternative ...mechanisms. We tested whether the effects of statins on stroke is qualitatively similar to that of other cholesterol-lowering interventions, and explained by cholesterol lowering.
Methods:
We reviewed the literature of randomized lipid-lowering trials reporting the stroke incidence, for a total of 176,974 patients investigated and a cumulative 627,117 patients/year exposure. Strokes incidence was related to treatments tested in the trials, and a meta-regression related the extent of stroke reduction as a function of the reduction in total cholesterol.
Results:
The odds ratio and 95% confidence interval (95% CI) for the total incidence of stroke in the actively-treated group compared with controls were 0.86 (0.81– 0.91, p<0.001). Statins decreased the risk of total stroke significantly (0.83, 0.78 – 0.89, p<0.001). The benefit of non-statin interventions on total stroke was small and not statistically significant (OR 0.95, 95% CI 0.85–1.08, p=N.S.). In the meta-regression, however, we found a significant relationship between the percent reduction of total cholesterol obtained in both statin and non-statin trials and the percent reduction of the relative risk of total stroke (p=0.0471). Neither statins nor other cholesterol-lowering interventions reduced the risk of fatal stroke.
Conclusions:
Among lipid-lowering interventions, statins are effective in decreasing the risk of total stroke, but their benefit appears associated with the extent of reduction of blood cholesterol, and is in line with their greater cholesterol-lowering potency compared with non-statin interventions.
The polymerization of methacrylic monomers present in dental composite resins never reaches completion and therefore the leakage of residual monomers into the oral cavity and into biological fluids ...can cause local and systemic adverse effects. This work was carried out to study the in vitro biochemical interactions of urethane dimethacrylate and 1,4‐butanediol dimethacrylate monomers with HL‐60 cells, a cell line assumed as an experimental model for simulating granulocyte behaviour. Our main finding was that both monomers induce cell differentiation at toxic concentrations and that cytotoxicity seems to be caused by alterations of glucose metabolism arising from mitochondrial dysfunction rather than from oxidative stress, which could not be altogether verified under our experimental conditions. Our study could be considered as a useful approach to investigate the biochemical mechanisms that contribute to the cytotoxicity of methacrylate compounds and it underlines the importance of assessing such parameters for testing biocompatibility in order to promote the development of better and safer dental materials.
Dieulafoy＇s lesion is an unusual cause of recurrent GI bleeding. This report describes a case of actively bleeding Dieulafoy＇s lesion of the small bowel in which the diagnosis was made by capsule ...endoscopy, followed by treatment with the use of push enteroscopy. The case illustrates that capsule endoscopy and enteroscopy are highly complementary in patients with small bowel diseases.
Policy advisers repeatedly call on Western European countries to reform their employment protection legislation (EPL) by switching to a layoff tax model of unemployment insurance (UI) funding. This ...new design, partly based on the existing "experience-rating" (ER) system in the U.S., should induce firms to internalize layoff fiscal costs and hence reduce unemployment. However, its success remains uncertain in economies with a collective wage-setting system, as do those of many Western European countries. Using a matching model with endogenous job destruction, we provide an ex-ante evaluation of this policy reform's effects on labor market outcomes and aggregate welfare in firm-level and sector-level bargaining economies. Our numerical analyses yield two main results. First, compared to simply increasing firing/dismissal costs, implementing an ER system improves labor market outcomes in both types of economies. Second, the design of the reform has to be adapted to the level of wage bargaining in the economy. Because firms can adjust most of the terms and conditions of employment (including wages) in decentralized negotiations, adding ER to existing EPL yields the largest reduction in unemployment under firm-level bargaining, while with sector-level bargaining, ER is better implemented with a relaxation of existing EPL. However, if the aim is to increase aggregate welfare, it is better under both bargaining regimes to relax existing EPL when implementing ER.
In this paper we report the detection of five strong Gamma-Ray Bursts (GRBs) by the High-Energy Particle Detector (HEPD-01) mounted on board the China Seismo-Electromagnetic Satellite (CSES-01), ...operational since 2018 on a Sun-synchronous polar orbit at a \(\sim\) 507 km altitude and 97\(^\circ\) inclination. HEPD-01 was designed to detect high-energy electrons in the energy range 3 - 100 MeV, protons in the range 30 - 300 MeV, and light nuclei in the range 30 - 300 MeV/n. Nonetheless, Monte Carlo simulations have shown HEPD-01 is sensitive to gamma-ray photons in the energy range 300 keV - 50 MeV, even if with a moderate effective area above \(\sim\) 5 MeV. A dedicated time correlation analysis between GRBs reported in literature and signals from a set of HEPD-01 trigger configuration masks has confirmed the anticipated detector sensitivity to high-energy photons. A comparison between the simultaneous time profiles of HEPD-01 electron fluxes and photons from GRB190114C, GRB190305A, GRB190928A, GRB200826B and GRB211211A has shown a remarkable similarity, in spite of the different energy ranges. The high-energy response, with peak sensitivity at about 2 MeV, and moderate effective area of the detector in the actual flight configuration explain why these five GRBs, characterised by a fluence above \(\sim\) 3 \(\times\) 10\(^{-5}\) erg cm\(^{-2}\) in the energy interval 300 keV - 50 MeV, have been detected.
Policy advisers repeatedly call on Western European countries to reform their employment protection legislation (EPL) by adopting layoff taxes to finance unemployment insurance (UI). This new design, ...partly based on the existing "experience-rating" (ER) system in the U.S., would induce firms to internalize layoff fiscal costs and hence reduce unemployment. Its success remains uncertain in economies with a collective wage-setting system, as in many Western European countries. Using a matching model with endogenous job destruction, we provide an ex-ante evaluation of this policy reform’s effects on labor market outcomes in a firm-level bargaining economy and a sector-level bargaining one. Using numerical exercises, we show that compared to a scenario of a simple increase in EPL stringency, the implementation of an ER system results in a decrease in unemployment under both bargaining regimes. Because of the possibility for firms to adjust most terms and conditions of employment (including wage) in decentralized negotiations, juxtaposing the ER system with the existing EPL yields the best labor market performance under a firm-level bargaining regime. The lack of internal flexibility in sector-level bargaining calls for accompanying the implementation of the ER with a relaxation of the existing EPL’s stringency. Lastly, we show that in industries with a turbulent economic environment, accompanying the introduction of ER while reducing the existing EPL’s strictness is recommended.
We investigate the role of collective wage bargaining institutions on the relationship between wage growth and unemployment, that is, the wage Phillips curve. Based on a labour market model with ...frictions and collective bargaining, we hypothesize that when the economy deteriorates, wages fall less in parts of the economy covered by collective wage agreements negotiated by trade unions at a centralized level than in economies with bargaining fully decentralized within companies. We move from theory to empirical analysis using regional NUTS-2 data from European countries, which show evidence that the wage Phillips curve flattens when unemployment is high—and gets steeper when the labor market is overheated —, in economies where the sectoral or cross-sectoral levels play a role in the collective wage bargaining. We also find that from a level of centralization intermediate between the company and the sector levels, the wage Phillips curve is twice as flat.
We investigate the role of collective wage bargaining institutions on the relationship between wage growth and unemployment, that is, the wage Phillips curve. Based on a labour market model with ...frictions and collective bargaining, we hypothesize that when the economy deteriorates, wages fall less in parts of the economy covered by collective wage agreements negotiated by trade unions at a centralized level than in economies with bargaining fully decentralized within companies. We move from theory to empirical analysis using regional NUTS-2 data from European countries, which show evidence that the wage Phillips curve flattens when unemployment is high—and gets steeper when the labor market is overheated —, in economies where the sectoral or cross-sectoral levels play a role in the collective wage bargaining. We also find that from a level of centralization intermediate between the company and the sector levels, the wage Phillips curve is twice as flat.
