HUMP-SHAPED RELATION IMPLEMENTATION IN EAST JAVA

This study aims to analyze the hump-shaped relation of regions in East Java Province. The proof of hump-shaped relation is seen from the influence of the degree of fiscal decentralization on economic growth. Fiscal decentralization analysis which is the ratio of regional original income and total regional expenditure, as well as using control variables consisting of government investment, and education which is implemented with reading and writing ability figures. The method used in this research is the econometrics approach. The model used in this study is the Fixed Effect Model with the Generalized Least Square method. The results of this study indicate that together the degree of decentralization, the degree of quadratic fiscal decentralization, government investment, the Gini ratio, the Gini squared ratio, and education significantly influence the regional economic growth in East Java Province. Partially the degree of decentralization, the degree of decentralized fiscal squared, government investment, the Gini ratio, the quadratic Gini ratio, and education also significantly affect economic growth, and show a hump-shape relationship, namely the degree of fiscal decentralization has a positive effect and quadratic fiscal decentralization hurts economic growth.

Reducing Dorsal Hump Recurrence Following Push Down-Let Down Rhinoplasty

Background Hump recurrence is a commonly encountered problem following dorsal preservation (DP) rhinoplasty when surgeons are learning the procedure. Objectives The aim of this paper was to compare the different methods for the prevention and treatment of dorsal problems following DP surgery. Methods One hundred and fifty primary rhinoplasty patients were included in our study. Their noses were classified in terms of both hump shape (V- or S-shaped) and height. All patients had a DP rhinoplasty by either a push-down (PD) or a let-down (LD) technique. The PD method was used for humps <4 mm and the LD for humps >4 mm. Follow-up evaluations were made with physical examination and photographs at 1 week, 3 months, and 12 months. Results Mean follow-up was 12.68 [1.78] months. Seventy-eight humps were V-shaped and 72 were S-shaped. PD was used for 67 cases, LD for 83 cases. Eight patients (5.3%, 8/150) had a visible dorsal hump problem after DP surgery. Based on their preoperative hump shape, 3 cases were V-shaped and 5 were S-shaped. All recurrent cases had a preoperative hump deformity >4 mm. The revision procedures were as follows: 4 patients had a PD procedure, 3 had a LD procedure, and 1 patient was treated by classic open resection rhinoplasty. Conclusions There is a correlation between preoperative hump height and eventual hump recurrence. The complication rate can be decreased with additional technical maneuvers and proper patient selection. Level of Evidence: 4

The effects of temperature and dispersal on species diversity in natural microbial metacommunities

Dispersal is key for maintaining biodiversity at local- and regional scales in metacommunities. However, little is known about the combined effects of dispersal and climate change on biodiversity. Theory predicts that alpha-diversity is maximized at intermediate dispersal rates, resulting in a hump-shaped diversity-dispersal relationship. This relationship is predicted to flatten when competition increases. We anticipate that this same flattening will occur with increased temperature because, in the rising part of the temperature performance curve, interspecific competition is predicted to increase. We explored this question using aquatic communities of Sarracenia purpurea from early- and late-successional stages, in which we simulated four levels of dispersal and four temperature scenarios. With increased dispersal, the hump shape was observed consistently in late successional communities, but only in higher temperature treatments in early succession. Increased temperature did not flatten the hump-shape relationship, but decreased the level of alpha- and gamma-diversity. Interestingly, higher temperatures negatively impacted small-bodied species. These metacommunity-level extinctions likely relaxed interspecific competition, which could explain the absence of flattening of the diversity-dispersal relationship. Our findings suggest that climate change will cause extinctions both at local- and global- scales and emphasize the importance of intermediate levels of dispersal as an insurance for local diversity.

Does corporate social responsibility extend firm life-cycles?

Purpose The purpose of this paper is to assess US-based firms from 2005 to 2015 to determine whether firms with better corporate social responsibility (CSR) performance will allocate capital through their life-cycle to better maintain or extend total assets. Design/methodology/approach Kinder, Lydenberg, Domini Research & Analytics social performance rating scores were used to measure CSR performance in an initial sample of 19,707 firm-year observations. Firms are first classified into stages including introduction, growth, maturity, and decline, and use multiclass linear discriminant analysis, the Dickinson classification scheme (Dickinson, 2011), and the ratio of retained earnings to total assets (RETA) as life-cycle proxies. Life-cycle was formulated based on a broad set of accounting data sourced from Compustat. Various corporate characteristics from the CRSP database were used to classify all sample firms into five equal groups based on their CSR performance. Findings A firm’s equity and debt issuance assume a hump shape over the life-cycle under CSR practice, and higher-CSR firms face fewer significant issues as they mature; payout, RETA, and free cash flow decreased from high-CSR performance firms to low-CSR performance firms; and cash holdings also exhibit a hump shape over the life-cycle and higher-CSR practices are associated with significantly lower cash holdings. Originality/value CSR performance is a useful predictor for forecasting firm life-cycle and superior CSR performance ensures efficient capital allocation throughout firm life-cycle. Furthermore, CSR practice is an indicator of firm life-cycle sustainability and indicates a firm’s future cash flow patterns.

Profitability and the lifecycle of firms

Using data on private and public firms, this study documents that profitability follows a hump shape over the lifecycle of a firm. Profitability rises with age for young firms, remains elevated, and then declines slowly for mature firms. A dynamic lifecycle model captures the observed age profile of profitability. Investment in product development generates profitability increases for young firms while wage pressures from more productive entrants lead to profitability declines for mature firms. The model generates the lifecycle behavior of financing and growth documented in the literature, even though it contains no financial frictions. It also implies greater sensitivity of financing and growth to age for young firms, a prediction supported by empirical tests. Taken together, these findings indicate that profitability dynamics influence the financing and growth of firms over the lifecycle.

HETEROGENEITY AND REDISTRIBUTION IN FINANCIAL CRISES

This paper presents a simple model of an economy with heterogeneous agents to show that the redistribution of wealth among such agents can play a significant role in the propagation mechanism of financial crises. In an economy where firms with heterogeneous productivity operate under borrowing constraints, the redistribution reproduces hump-shaped responses for output and labor and procyclicality in observed productivity. In this model, a financial shock generates a persistent and hump-shaped response, whereas a productivity shock does not. Further, the redistribution of wealth significantly amplifies the persistence and hump shape of these responses following a financial shock. This model suggests that redistribution may thus be a key driving force behind the transmission of financial crises.

Human-capital spillover, population and R&D-based growth

We study two-sector R&D model with endogenous human capital accumulation. Allowing for fractional human capital spillover from parents to their offspring, which are subject to congestion in fertility rate, we establish non-monotonic relations between population growth and economic growth. These non-monotonic relations, which are polynomial in general, are determined by the base level of human capital spillover and the magnitude of the congestion effect: a U shape relation can arise under low congestion factor, whereas a hump shape may present for high congestion factor. Hence this work contributes to the recent line of modified R&D-based growth models, aimed to align theory with the mixed empirical data on the relation between population growth and economic prosperity.

Interaktionseffekte zwischen Mindestlöhnen und Lohnsubventionen. Eine Analyse zur Beschäftigung in den USA und in Deutschland

We examine theoretically and empirically how wage subsidies and minimum wages interact regarding to employment opportunities, and how these interactive effects vary across different groups of workers. Assuming a neoclassical labor market and heterogeneous work, subsidized low-skilled worker displace less-skilled workers. The effect on non-subsidized low-skilled workers remains theoretically open. The empirical examination for the US shows that increasing minimum wages decreases less-skilled employment, haven’t an effect on non-subsidized low-skilled employment and induce a hump-shape of subsidized low-skilled employment. For Germany, however, several simulation studies indicate that the provided minimum wage and existing wage subsidies do not cause substitution effects, but lower employment of all workers in the low wage sector regardless of a grant funding.

Heterogeneity in the Relationship between Happiness and Age: Evidence from the German Socio-Economic Panel

This paper studies the evolution of life satisfaction over the life course in Germany. It clarifies the causal interpretation of the econometric model by discussing the choice of control variables and the underidentification between age, cohort and time effects. The empirical part analyzes the distribution of life satisfaction over the life course at the aggregated, subgroup and individual level. To the findings: On average, life satisfaction is mildly decreasing up to age 55 followed by a hump shape with a maximum at 70. The analysis at the lower levels suggests that people differ in their life satisfaction trends, whereas the hump shape after age 55 is robust. No important differences between men and women are found. In contrast, education groups differ in their trends: highly educated people become happier over the life cycle, where life satisfaction decreases for less-educated people.

A numerical study of the effects of injection rate shape on combustion and emission of diesel engines

The spray characteristics including spray droplet sizes, droplet distribution, spray tip penetration length and spray diffusion angle directly affects the mixture process of fuel and oxygen and then plays an important role for the improvement of combustion and emission performance of diesel engines. Different injection rate shapes may induce different spray characteristics and then further affect the subsequent combustion and emission performance of diesel engines. In this paper, the spray and combustion processes based on four different injection rate shapes with constant injection duration and injected fuel mass were simulated in the software of AVL FIRE. The numerical models were validated through comparing the results from the simulation with those from experiment. It was found that the dynamic of diesel engines with the new proposed hump shape of injection rate and the original saddle shape is better than that with the injection rate of rectangle and triangle shape, but the emission of NOX is higher. And the soot emission is lowest during the late injection period for the new hump-shape injection rate because of a higher oxidation rate with a better mixture between fuel and air under the high injection pressure.