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Bénabou [(2002) Econometrica 70, 481–517.] demonstrated how progressive redistribution mitigates unequal opportunity for education to promote growth. We ask how effective that policy is when it affects the average quality of education. So, we add a learning externality in his model of human capital accumulation. It captures how knowledge diffusion through global channels—such as a national educational curriculum—influences children’s learning outcomes and, hence, growth. Whether inequality is a curse or a blessing for economic growth depends on how efficiently an economy designs these channels and to what extent they influence children’s education. The greater this efficiency, the lower is the optimal progressiveness of income redistribution for maximizing the long-run output growth rate. Interestingly, if poorly designed global channels exert greater influence in education, the optimal progressivity may increase. Our quantitative analysis reveals new implications for redistributive policies, including a surprisingly low optimal progressivity (approximately 6–7%) for the calibrated US economy.

In present study, a novel 3-(4-(methylthio)phenyl)-1-(thiophene-3-yl)prop-2-en-1-one (1) was synthesized through the chalcone reaction. The FT-IR, 1H & 13C NMR and mass analysis, UV-visible and fluorescent spectroscopic system were utilized to characterize the synthesized compound. The charge density data was used to explain the characteristics of molecular systems. In addition, in the form of the complete and partial density of states, the HOMO-LUMO energy gap and electrostatic potential map, etc. and some quantum chemical insights have been obtained. Furthermore, to demonstrate the possible applications of thiophene-chalcone derivative (1) in nonlinear optics, the polarizability and first hyperpolarizability were measured. Molecular docking studies were also conducted in order to illustrate the over expression of estrogen receptor in 75% of 5J6A protein. The novel compound was tested for its anticancer and antioxidant activities of in vitro analyses. The substantial antioxidant activity was demonstrated by the newly synthesized compound 1.

We argue that parents underinvest in growing their own children's capability in the absence of property rights over their future income, and that causes economic waste. No amount of collaborative choice among contemporary adults for public education could eliminate it because they face a resource constraint set by their predecessors. Such intergenerational dependence requires an intergenerational contract instead. It involves rewarding parents with a pension premium tied to their own children's taxable income paired with a matching subsidy to parental expenditure. We show how it fully internalizes the intergenerational externality, related to parenting, to eliminate economic waste and, thereby, to raise labor productivity and economic welfare. Our quantitative analysis of a baseline economy reveals significant welfare gains in economies with population ageing coupled with a low degree of parental care for children's future welfare and high returns to parental expenditure on children.

Three mononuclear copper(II) complexes, viz. [CuL1] (1), [CuL2] (2), [CuL3] (3), and one nickel(II) complex, viz.[NiL3] (4) where H2L1 = 3,3′-{(methylazanediyl)bis[(propane-3,1-diyl)azanylylidenemethanylylidene]}bis(4-bromophenol), H2L2 = 2,2′-[1,2-phenylenebis(azanylylidenemethanylylidene)]bis(4-bromophenol) and H2L3 = 3,3′-{(methylazanediyl)bis[(propane-3,1-diyl)azanylylidenemethanylylidene]}bis(4,6-dibromophenol), have been prepared. The syntheses have been carried out by the reaction of copper perchlorate (for 1–3) or nickel perchlorate (for 4) with the corresponding Schiff base in the molar ratio of 1:1. The complexes have been characterized by several physicochemical techniques including single-crystal X-ray diffraction. Structural studies reveal that the complexes 1, 3 and 4 adopt distorted trigonal bipyramidal structures, while 2 adopts a distorted square planar geometry. The antibacterial activity of the complexes and the constituent Schiff bases has been tested against two Gram(+) and two Gram(−) bacteria.

BACKGROUND Post-Operative Nausea and Vomiting (PONV), is one of the most common and distressing adverse events experienced by patients after an anaesthesia and surgery. It may prolong recovery, delay patient discharge and increase hospital costs. PONV is common after laparoscopic cholecystectomy with a high incidence of 40-75%. In this study, we used conventional 5-HT3 receptor antagonist ondansetron and a newer 5-HT3 receptor antagonist, Ramosetron as a prophylaxis for PONV after laparoscopic cholecystectomy (LC) under general anaesthesia in two different groups of patients and we compared the efficacy and tolerability of the two drugs. This study was carried out to compare the efficacy of Ramosetron and Ondansetron in preventing PONV after laparoscopic cholecystectomy under general anaesthesia. METHODS This is a prospective randomized controlled study conducted among 124 adultpatients of either sex, aged between 25 and 55 yrs., of ASA physical status 1 and ii scheduled for laparoscopic cholecystectomy, who were randomly allocated into Group A (n=62) receiving (IV) Ondansetron (4 mg) and group B (n=62) receiving IV Ramosetron (0.3 mg) prior to the induction of general anaesthesia in a doubleblind manner. Episodes of PONV were noted at 0.5, 1, 2, 4, 6, 12 hours postoperatively. RESULTS Statistically significant difference between Groups A and B (p

We analyse the impact of human capital misallocation and redistribution on GDP, welfare, and TFP, in economies with financial market imperfections. We present an overlapping generations model in which the innate abilities of children are drawn from a probability distribution and where parents are unable to insure against these shocks or borrow against their child’s future incomes. The government has access to a redistributive tax and transfer system that can partially mitigate the effects of these missing markets. The steady state equilibrium of the model features closed form analytical solutions for the distributions of human capital, physical capital, and income, along with aggregate measures of TFP and welfare. We calibrate the model to the US economy and find that the misallocation, and its adverse effects on TFP and GDP, can be significant. However redistributive policies, aimed at mitigating the misallocation from these missing markets, have only small positive effects on TFP but large negative effects on GDP.

Three new Schiff base complexes of cobalt(III) viz. [Co(L1)(N3)]2 (1), [Co(L2)2(N3)2]NO3 (2) and [Co(L3)2(N3)2]ClO4 (3), where H2L1 = N,N′-propane-1,3-diylbis[1-(pyrrol-2-yl)methanimine], L2 = 1-[(thiophen-2-ylmethylidene)amino]propan-2-amine and L3 = 1-[(3-methylthiophen-2-ylmethylidene)amino]propan-2-amine, have been prepared and characterized. The syntheses have been achieved by the reaction of cobalt(II) nitrate or perchlorate with the tetradentate Schiff base (H2L1) or the bidentate ligands L2 and L3 in presence of azide. All the complexes 1–3 have been characterized by microanalytical, spectroscopic, single crystal X-ray diffraction and other physicochemical studies. Structural studies reveal that all the complexes contain CoN6 chromophore in which the central Co(III) ions adopt distorted octahedral geometry. While 1 is a binuclear end-on bis(μ-azido) complex, both of 2 and 3 are mononuclear with two terminal azide ions disposed in cis positions. Structural studies reveal that weak intermolecular H-bonding or π…π interactions are operative to bind the complex units or the anions in the solid state. The antibacterial activity of all the complexes and their constituent Schiff base ligands has been tested against some Gram(+) and Gram(−) bacteria.

Male backlash, which we define as a hostile response to female empowerment in a gender biased society, drives crime against women. We provide evidence to support this idea. Combining survey data with administrative records on rapes, indecent assaults and domestic violence in India, we show that a smaller gender gap in earning potential is associated with more rapes and indecent assaults. This relationship is exacerbated in states with high gender bias, pointing away from increased reporting as a potential channel. A smaller gender gap is associated with lower domestic violence, but only in states with low gender bias.

Four new mononuclear Schiff base manganese(III) and cobalt(III) complexes viz. [Mn(L1)(NCS)] (1), [Mn(L2)(NCS)] (2), [Co(L3)(NCS)] (3), and [Co(L4)(NCS)]·0.5CH3OH·0.5H2O (4), containing thiocyanate as a common pseudohalide ion are reported. The pentadentate Schiff base ligands H2L1, H2L2, H2L3, and H2L4 were obtained by the condensation of substituted salicylaldehydes with N-(3-aminopropyl)-N-methylpropane-1,3-diamine. The syntheses of the complexes have been achieved by the reaction of manganese(II) perchlorate or cobalt(II) perchlorate with the respective Schiff bases in the presence of thiocyanate in methanol medium. Complexes 1–4 have been characterized by microanalytical, spectroscopic, single-crystal X-ray diffraction and other physicochemical studies. Structural studies reveal that 1–4 adopt nearly similar structures containing the MN4O2 (M = Mn, Co) chromophore in which each central M(III) ion adopts a distorted octahedral geometry. Weak intermolecular H-bonding interactions are operative in these complexes to bind the molecular units. The antibacterial activity of 1–4 and their constituent Schiff bases has been tested against some common bacteria.

Polycyclic aromatic hydrocarbons (PAHs) demonstrated unusual weak C–H⋯F type H-bonding interaction with meso-substituted Bodipy dyes (1–3) in ethanol medium. Isosbestic absorptions and enhancement of emission of Bodipy were spectroscopically detected with three chosen PAHs (naphthalene, anthracene and phenanthrene). IR, 1H and 19F NMR, cyclic voltammetry, powder X-ray and Monte Carlo simulation of adducts confirmed interaction of PAHs via C–H⋯F type H-bonding with the chosen dyes.

A series of six new mononuclear Schiff base complexes, 1–6 of cobalt(III) of the general formula, [CoLX] or its adduct with methanol, is reported. The pentadentate Schiff base ligand (H2L) was obtained by the condensation of N-(3-aminopropyl)-N-methylpropane-1,3-diamine with 1-(2-hydroxyphenyl)ethanone (H2L1) or 1-(2-hydroxyphenyl)propan-1-one (H2L2). X stands for the pseudohalides, N3–, N(CN)2− , and NCS–. The complexes have been synthesized by the reaction of equimolar amounts of cobalt(II) nitrate with H2L1 or H2L2 in the presence of the respective pseudohalide in methanol medium. All the complexes have been characterized by microanalytical, spectroscopic, single crystal XRD (except 3), and other physicochemical studies. Structural studies reveal that the central Co(III) ion in 1, 2, 4, 5, and 6 adopts a distorted octahedral geometry with a CoN4O2 chromophore. Weak intermolecular H-bonding and/or π-interactions are operative in these complexes to bind the molecular units. The antimicrobial activity of all the complexes and their constituent Schiff bases has been tested against some common bacteria and fungi.

Parental education largely determines a child's opportunity to learn. However, a higher level of trust and a higher frequency of social interactions between adults with significantly different educational attainments shrinks the knowledge-gaps among the adults, making their human capital more substitutable for a child's education. We find that if the substitutability of parental human capital increases to enhance the atmospheric impact of past knowledge in the private education technology, then the growth and welfare maximizing progressivity of redistribution decreases. In particular, bridging the knowledge gaps through social interactions makes learning cheaper for underprivileged children. Such reduction in inequality of opportunity lowers the optimal progressivity of redistribution. We offer some empirical support for the above idea using a recently developed database on social cohesion which attempts to measure trust and frequency of interactions across different culture, religions and other forms of heterogeneity. Numerically, for calibrated economies, we estimate how gains in growth, efficiency, and welfare from progressive redistribution, over and above the benefits from a Pigouvian subsidy, may reasonably vary across different countries with different degrees of social cohesion.

Two new copper(II) complexes of different nuclearities, viz. mononuclear [CuL 2 (H 2 O)](ClO 4 ) 2 ( 1 ), binuclear [Cu 2 L 2 (NCS) 2 (NO 3 ) 2 ] ( 2 ) and a mononuclear cobalt(II) complex, [CoL 2 (NCS) 2 ] ( 3 ), where HL = 2-{[pyridin-2-ylmethylidene]amino}benzenethiol, a tridentate Schiff base derived from 2-aminothiophenol and pyridine-2-al have been prepared. The complexes have been characterized by microanalytical, spectroscopic, single crystal X-ray diffraction and other physicochemical studies. Structural studies reveal that 1 is a mononuclear copper(II) complex with distorted square pyramidal geometry. But, 2 is a thiocyanato-bridged binuclear species in which each copper(II) ion adopts an irregular octahedral geometry containing chelating nitro groups. Complex 3 is comprised of a mononuclear octahedral unit containing two thiocyanato groups in cis positions around the central cobalt(II) ion. The complex units in 1 – 3 are held together by H-bonding, π⋯π or O⋯π interactions to develop supramolecular network in their respective solid states. The antibacterial activity of all the complexes along with the constituent Schiff base ligand has been evaluated against some Gram(+) and Gram(−) bacteria.

Four new Schiff base complexes of first row transition metals viz. mononuclear [CoL3] (1), [NiL2] (2), [CuL2] (3) and binuclear [Cu2L2(NCS)2] (4) where HL = 2-[((2-(thiophene-2-yl)ethyl)imino)methyl]phenol, a bidentate Schiff base derived from 2-thiopheneethylamine and salicylaldehyde have been prepared. Characterization has been made with different physicochemical studies including single crystal X-ray diffraction. Structural studies indicate that the mononuclear complex 1 has a distorted octahedral geometry while 2 and 3 are square planar. On the other hand, 4 is a phenoxo-bridged binuclear species in which each copper(II) ion adopts a distorted square pyramidal geometry. In the solid states, intermolecular C–H⋯π or π⋯π interactions are operative in 2 and 4.

Two new mononuclear nickel(II) complexes, [Ni(L)(N3)] (1) and [Ni(L)2(NCS)2] (2), where HL = 2-{[phenyl(pyridin-2-yl)methylidene]amino}benzenethiol, a tridentate Schiff base derived from 2-aminothiophenol and 2-benzoylpyridine, have been prepared and characterized. The syntheses of 1 and 2 have been achieved by the reaction of equimolar amounts of nickel perchlorate and HL in the presence of azide and thiocyanate, respectively. The complexes have been characterized by microanalytical, spectroscopic, single-crystal X-ray diffraction, and other physicochemical studies. Structural studies reveal that 1 and 2 adopt two different geometries, distorted square planar in 1 and octahedral in 2. The two mononuclear complex units are held together by π…π or C–H…π weak intermolecular interactions to develop supramolecular networks in their solid states. The antibacterial activity of 1, 2 and their constituent Schiff base has been tested against some gram(+) and gram(−) bacteria.

It is of common knowledge that most leukemic patients succumb to infectious complications beside dysfunction in proliferation/differentiation of hematopoietic cells . Recently, it has been shown by several groups that there is a locus specific HLA class I downregulation in the leukemic cells. However, the HLA status of the phenotypically/morphologically normal granulocytes which can cope up with the infectious complications are not known. Therefore it may be worthwhile to study the HLA status in these cell types. We, therefore, investigated the status of HLA-ABC and HLA-DR in the CD15 + granulocytes and observed a higher expression of HLA-DR in several leukemic samples in comparison to normal volunteers (NV). Our data also suggest that only CD15 + granulocytes of myeloid leukemia, a clonal stem cell disorder, have a tendency of decreased HLA class Ia antigen expression. Moreover CD15 + granulocytes of NV showed an enhanced HLA-DR expression in presence of leukemic cells. Interestingly, CD15 + granulocytes collected from normal volunteers were observed to have phagocytic oxidative burst activity towards HLA class Ia downregulated primary leukemic cells. We therefore suggest that neutrophil transplantation may be used for the treatment of leukemia.

Despite the transparency and independent operations of the central bank, the costly disinflation in the early nineties and the apparent lack of contemporaneous correlation between inflation and unemployment in the subsequent periods brings into question the validity of the Phillips curve hypothesis for the New Zealand economy. Nevertheless, drawing on an empirical exercise built on a narrative history, I argue that the hypothesis remains a valid view of the interaction between the real and nominal sides of the economy if we interpret that history with theories of credibility to account for the dynamics of inflation expectations. Between 1987 and 2015, the survey data of inflation expectations identifies, through either a new classical or a new Keynesian representation, the changing location of the Phillips curve, illustrating how inflation expectations directly affect both inflation and unemployment, without undermining their theoretical relationship. Findings suggest that a credible regime between 1993 and 1999 precipitated a stable manifold of relatively flat Phillips curves. However, probably the loss of credibility in the post-1999 era left the policymakers with a steeper Phillips curve with unstable locations. Use of the nontradable component of the consumer price index (CPI) rather than the CPI as a whole strengthens the policy conclusions based on the Phillips curve hypothesis.

I examine how economic institutions which exhibit a socio-cultural bias against women may reduce the wealth of a nation and undermine its economic wellbeing. In particular, I explore the origin of various types of gender gaps in a society and their impact on its economic welfare. My hypothesis is that the economic factors that cause gender gaps in an economy comes only partly from the market economy and largely from the underlying social norm and that economic welfare varies inversely with gender gaps. In a dynamic general equilibrium model of economic growth with optimizing men and women, I characterize non-trivial effects of gender-biased institutions and technology on the endogenously developed gender gaps in (a) the labor force participation rate, (b) returns to parental investment in education and (c) human capital. The model produces an explicit analytical relationship for doing growth empirics, relating the growth rate of GDP and gender gaps of various kinds. That analytical relationship among the relevant economic variables helps us to organize the newly developed dataset on crime against women by the UN, for conducting a meaningful empirical exercise. The objective of the exercise is to uncover necessary evidence for the model's hypothesis, regarding the negative effect of a gender biased society on the wealth of the nation which it embeds. Empirical results are consistent with the model's prediction that a society which generates a larger gender bias also lowers its per capita GDP.

This paper provides evidence to argue that the difference in the social security schemes of two countries may help explain the disparity in their saving rates. We examine the argument by limiting our focus to a comparison of New Zealand and Singapore for the period 1960–1993. We choose the period to avoid the potential impact of the major restructuring of the New Zealand Superannuation since 1994 toward a partially funded system and the East Asia crisis of the late 1990s. In New Zealand, the unfunded system of provision of social security has the effect of reducing the private saving rate. In Singapore, on the other hand, due to the fully-funded nature of the Central Provident Fund (CPF), an increase in CPF saving will increase overall private and gross national saving, with some leakage into consumption. Also, since future social security wealth is directly related to current saving, Singaporeans have more incentives to transfer a higher fraction of the increase in current income for future retirement purposes. For New Zealanders, prior to 1994, the unfunded system did not accord the individuals that same control, because under their old system they could not increase future social security wealth by transferring current resources to the future. Through an empirical exercise, we discover that reasonable differences in thriftiness alone cannot explain the observed disparity in the rate of saving while the estimated differences in the impact of social security on saving provide a sufficient explanation.

Two new Schiff base complexes, [Ni2(HL)2(μ1,3-N3)]ClO4·H2O (1) and [Co(L)(N3)] (2) where L = 2,2′-{(methylimino)bis[propane-3,1-diylnitrilomethylylidene]}diphenolate ion, have been synthesized by the reaction of equimolar amounts of nickel(II) or cobalt(II) perchlorate with the pentadentate Schiff base ligand (H2L) in presence of azide ion. The complexes have been characterized by microanalytical, spectroscopic, single crystal X-ray diffraction and other physicochemical studies. Structural studies reveal that 1 is an end-to-end azido-bridged binuclear complex in which each nickel(II) adopts irregular octahedral geometry. In contrast, 2 is a mononuclear octahedral cobalt(III) complex containing the azide ion in one of its apical positions. Low temperature magnetic measurements on 1 indicate noticeable intradimer ferromagnetic interactions.

Four new heterodinuclear complexes of a group of the general formula, [NiHg(L)Cl2] where the Schiff base anion, L = 2,2′-[propane-1,2-diylbis(nitrilomethylylidene)] diphenolate (L1), (1); 2,2′-[propane-1,2-diylbis(nitriloeth-1-yl-1-ylidene)] diphenolate (L2), (2); 2,2′-[propane-1,2-diylbis(nitriloprop-1-yl-1-ylidene)] diphenolate (L3), (3) and 2,2′-[propane-1,3-diylbis(nitrilomethylylidene)] diphenolate (L4), (4) have been prepared. The syntheses have been achieved by reacting equimolar amounts of nickel perchlorate, mercuric chloride and the respective tetradentate Schiff base ligand (H2L) in methanol medium. The complexes have been characterized by microanalytical, spectroscopic, single crystal X-ray diffraction and other physicochemical studies. Structural studies on 1–4 reveal the presence of a heterodinuclear [NiIIHgII] unit in which the central Ni(II) and Hg(II) ions are connected to each other by two phenolate oxygen bridges. In each of the complexes, the Ni(II) ion adopts a distorted square planar (NiO2N2) geometry while the Hg(II) ion assumes a distorted tetrahedral arrangement (HgO2Cl2). The dinuclear units in 1–4 are self-assembled through weak intermolecular π… interactions to build up supramolecular network in their solid state.

Three pseudopolymorphs of a phenoxo-bridged binuclear manganese(III) complex, [Mn(L)(N3)]2 where

Two new Schiff base complexes of cobalt(III) viz. [Co(L)(L1)(NCS)]ClO4 (1) and [Co(L2)(N3)]2·4H2O (2), where L = propane-1,2-diamine, L1 = 2-[N-(2-aminopropyl)ethanimidoyl]phenolate and L2 = 2,2′-[propane-1,2-diylbis(nitriloeth-1-yl-1-ylidene)]diphenolate ion, have been prepared and characterized. The syntheses have been achieved by reacting cobalt perchlorate either with the diamine (L) and 2-hydroxyacetophenone together or with their Schiff base H2L2 in presence of the respective pseudohalide. The same synthetic system has yielded two complexes of different nuclearity in presence of two different pseudohalides i.e. the mononuclear 1 with thiocyanate and the binuclear 2 with azide ion. The tridentate (L1) and tetradentate (L2) Schiff base anions were formed in situ to bind the Co(III) ion in case of the template syntheses. The complexes have been characterized by elemental analysis, IR spectroscopy and single crystal X-ray diffraction studies. Structural studies reveal that the central Co(III) ions in both the complexes 1 and 2 adopt distorted octahedral geometry and weak intermolecular H-bonding or π…π interactions are operative to bind the complex units in the solid state. The antibacterial activity of the complexes and related compounds has been tested against some Gram(+) and Gram(−) bacteria.

Three new mononuclear complexes of copper(II), viz. [Cu(L)(N 3 )Cl] ( 1 ), [Cu(L′)(H 2 O)]ClO 4 ( 2 ) and [Cu(L″)] ( 3 ) where L = N -(3-aminopropyl)- N -methylpropane-1,3-diamine, L′ = 2-( N -{3-[(3-aminopropyl)(methyl)amino]propyl}ethanimidoyl)phenolate ion and L″ = 2,2′-{(methylimino)bis[propane-3,1-diylnitrilo(1 E )eth-1-yl-1-ylidene]}diphenolate ion, have been prepared. The synthesis of complex 1 has been achieved by reacting copper chloride with the triamine (L) and sodium azide in a 1:1:1 M ratio. The other two compounds have been synthesized by the reaction of copper perchlorate with the same triamine, L, plus 2-hydroxyacetophenone in a molar ratio of 1:1:1 (for 2 ) and 1:1:2 (for 3 ), so that the respective tetradentate and pentadentate Schiff bases HL′ and H 2 L″ are formed in situ to bind the copper(II) ions. The complexes have been characterized by microanalytical, spectroscopic and single crystal X-ray diffraction studies. Structural studies reveal that the mononuclear units of all the three complexes adopt a distorted square pyramidal geometry and are held together by either intermolecular H-bonding (in 1 and 2 ) or C–H⋯π interactions (in 3 ) to form supramolecular networks in the solid state.

This paper suggests that if parental nurturing is a dominating force in human capital formation then income redistribution may not promote economic growth. In particular, if, consistently with empirical evidence, parental human capital complements investment in a child’s education and yields increasing returns in the intergenerational production of human capital, income redistribution may have an adverse impact on the growth rate of average human capital. Redistribution shifts resources towards the less educationally-productive families and thus in the presence of credit markets imperfections and increasing returns, it reduces the aggregate level of investment in human capital. Moreover, if the degree of increasing returns is sufficiently large to produce sustained growth, this adverse effect on human capital formation may outweigh the conventional beneficial effects of redistribution that arises from the interaction between a production technology exhibiting diminishing returns and credit market imperfections.

Five mononuclear complexes of manganese(II) of a group of the general formula, [MnL(NCS)2] where the Schiff base L = N,N′-bis[(pyridin-2-yl)ethylidene]ethane-1,2-diamine (L1), (1); N,N′-bis[(pyridin-2-yl)benzylidene]ethane-1,2-diamine (L2), (2); N,N′-bis[(pyridin-2-yl)methylidene]propane-1,2-diamine (L3), (3); N,N′-bis[(pyridin-2-yl)ethylidene]propane-1,2-diamine (L4), (4) and N,N′-bis[(pyridin-2-yl)benzylidene]propane-1,2-diamine (L5), (5) have been prepared. The syntheses have been achieved by reacting manganese chloride with the corresponding tetradentate Schiff bases in presence of thiocyanate in the molar ratio of 1:1:2. The complexes have been characterized by IR spectroscopy, elemental analysis and other physicochemical studies, including crystal structure determination of 1, 2 and 4. Structural studies reveal that the complexes 1, 2 and 4 adopt highly distorted octahedral geometry. The antibacterial activity of all the complexes and their respective Schiff bases has been tested against Gram(+) and Gram(−) bacteria.

In this paper, a dynamic general equilibrium (DGE) model of growth–inequality relationships, with missing credit markets, knowledge spillover and self-employed agents, is calibrated to New Zealand data. The model explains how two distinct policy shocks involving redistribution and immigration imply, subsequently, two completely opposite outcomes. Agents’ inability to borrow aggravates a negative macroeconomic effect of heterogeneity on growth. Redistribution mitigates that effect but creates microeconomic disincentives on saving and work-effort. Consequently, immigration shocks that perturb variance of efficiency induce a negative growth–inequality relationship, while redistribution shocks, in New Zealand’s case, produce larger fluctuations in incentives than in macro benefits, implying a positive growth–inequality relationship.

International audience; Two new mononuclear complexes of manganese(III) viz. [MnL2(LH)2]ClO4 (1) and [MnL2(N3)]·0.5CH3OH (2) have been synthesized by reacting manganese perchlorate with furfurylamine and salicylaldehyde (plus sodium azide in 2) where L = (2-hydroxybenzyl-2-furylmethyl)imine, an asymmetric bidentate Schiff base formed in situ to bind the Mn(III) ion. The complexes have been characterized by elemental analysis, IR spectroscopy, TGA and single crystal X-ray diffraction studies. Structural studies reveal that the complexes 1 and 2 adopt an octahedral and a square pyramidal geometry, respectively. The antibacterial activity of the complexes has been tested against Gram(+) and Gram(−) bacteria.

A new phenoxo-bridged binuclear manganese(III) Schiff base complex, [Mn(L)(N 3 )] 2 ( 1 ) where L = N , N ′-bis(salicylidene)-1,2-propanediamine has been synthesized and characterized by IR, elemental analysis, crystal structure analysis and variable temperature magnetic susceptibility measurements. The single crystal X-ray diffraction reveals that the structure is dimeric with each phenolate oxygen atom acting as a bridge between two symmetry equivalent Mn atoms. Low temperature magnetic study shows that the complex exhibits intra-dimer ferromagnetic exchange and single-molecule-magnet (SMM) behavior as well.

This paper constructs an analytically tractable model of endogenous innovation with a special focus on the effects of barriers to entry, namely patents. Conventional models of endogenous growth rely on the existence and enforcement of intellectual property rights with patents. Those legal rights are seen as necessary evils, required to encourage innovation by ensuring successful innovators are rewarded with monopoly rents. This paper takes a different approach. By integrating Aghion, Harris, and Vickers (1997) and the Boldrin and Levine (2003) framework into a conventional vintage capital growth model such as Greenwood, et al (1997), the paper characterizes economic conditions under which patents may decrease the growth rate. The model is calibrated to the US economy to match its long run time series of GDP per hour. Simulations of that calibrated model provide important insights regarding growth-promoting policies. The model also provides an explicit numerical algorithm to measure cross-country differences in total factor productivity due to barriers to technology adoption.

Conventional exchange rate theory has proven unreliable in its attempts to explain the real exchange rate. In the March 2003 Reserve Bank Monetary Policy Statement two graphs appeared, one of total net migration and the other the nominal TWI exchange rate. Closer inspection revealed they were correlated. This paper aims to answer the question: can migration be used to predict the exchange rate? The hypothesis tested in this paper is that the heterogeneity in the market shares of aggregate demand and labor supply between the migrants and the native-born population constitute important determinants of the real exchange rate. In particular, the model provides an analytically tractable equation consistent with a general equilibrium theory of the exchange rate determination as a function of migration. It turns out that migration data is able to partially explain the movements in the real exchange rate. The correctly specified general equilibrium performs well in and out of the sample and gives valuable insight into the determination of the real exchange rate for New Zealand.

There is an increasing trend in the pattern of world migration of educated and skilled individuals leaving developing countries for developed ones. This has created much concern about a so-called “brain drain”. As the name suggests, the brain drain was believed by early commentators to be unequivocally harmful to those countries which suffered from it. More recent literature does not directly refute this belief but puts it under closer scrutiny, and finds the possibility of many different mechanisms through which the negative effects of the brain drain may be mitigated. This paper aims to illuminate by surveying the literature on the brain drain. It does so by exploring the brain drain in the current context of globalisation and by making comparisons to previous periods of globalisation, by examining the theoretical analyses of migration and the brain drain, by exploring an economic model of the brain drain, and by analysing the particular case of New Zealand, a developed country with a high rate of skilled and educated emigration.

This paper aims to provide a theoretical explanation for understanding the cross-country disparity of long-run economic growth rates based on the diversity in the initial conditions. In particular, it argues that the disparity in the inequality of human capital and income, as well as the industry structure of the economy prior to the emergence of endogenous growth, plays an important role in determining its long-run growth rate. The initial distribution of human capital and the share of agriculture characterize the initial state of the economy. I present a model of endogenous growth that generates cross-country diversity of long-run growth rates of per capita income as functions of path dependent history of human capital distribution. The model’s predicted growth rate explains up to fifty-three percent of the observed variation in growth rates across countries. The results of the econometric estimation of the equilibrium restriction of the model on the data answer an important question regarding why two countries with the same average stock of human capital may have different total factor productivity (TFP). The results support the hypothesis that the diversity in the relative proportion of innovators due to differences in the historical distribution of human capital and the redistributive tax regimes induce significant heterogeneity in the level of TFP as well as its growth rates across countries.

Mobile application developers and users can feel a direct advantage within mobile based cloud computing for overcoming the inherent constraints present in mobile devices - be it battery life, memory space or processing power. However, ubiquitous adoption of programmable smart mobile devices and connecting them to unsecured public domain of Internet raises newer privacy and security challenges across enterprises. Both mobile and cloud environment where sensitive personal data can be stored, are susceptible to security attacks that can compromise users' data privacy. Smartphones and Tablets are not only storing users' private data but also the private data of the collaborators including friends, family members, customers, vendors or any other individual. The private data of other involvers are primarily communicated, received and stored in address book, SMS, WhatsApp, emails of the users' Smartphone. We have identified several privacy plus security threats. In the backdrop of services and support of open source platform, we have enumerated existing best practices and our recommendations as preventive as well as measures on occurrence.

Politicians fashionably argue in favour of financial development to promote economic growth following the seminal study of King and Levine (1993a and 1993b). Financial development, however, could come through alternative channels that are sometimes not compatible in small, open economics. A relatively popular channel promotes privatization of domestic financial intermediaries but with restrictions on foreign ownership. The other competing channel works through foreign direct investment (FDI) requiring foreign ownership of national assets. Until the last decade of globalization, from the 1960s through the early 1990s, in many Asia-Pacific Economic Cooperation (APEC) economies and especially in East Asia, privatization of national banks went hand in hand with barriers against FDI. The recent trend in globalization creates a political tension between those who welcome and the others who oppose FDI. This paper evaluates the relative contribution of those two alternative channels of financial development to economic growth. The model of analysis builds on King and Levine (1993b) but restricts its attention to small open economies of APEC. Contrary to the previous findings, privatization of the domestic financial sector alone turns out to have a negative impact on the growth of productivity and a weakly negative impact on the growth rate of per capita income. This discrepancy could possibly be rationalized by a special characteristic of the APEC sample where endogenous credit rationing by privatized banks could have lowered the relative proportion of entrepreneurs in the economy for reasons presented in Stiglitz and Weiss (1981). In this environment, FDI could serve as a catalyst to increase entrepreneurial access to international credit, which in turn could raise productivity by inducing additional entrepreneurial activities in the economy. However, financial integration led by FDI does bring the prospect of lower economic growth due to increased business fluctuations, especially for the small open economies. Nevertheless, it is surprising to find that a significant improvement in efficiency and growth was experienced by the APEC nations through the international channel with the flow of FDI. Consequently, barriers to globalization out of purely nationalist concerns may be ill-fated even for small open economies.

Crucial data on productivity was omitted from my article titled, “Why Haven't Economic Reforms Increased Productivity Growth in New Zealand?. The data consist of GDP per hour and real earnings per hour as two alternative measures of productivity. More importantly, they are crucial to substantiate the premise of the “productivity puzzle” that the article addresses and represent an alternative source of productivity data that the growth economists in New Zealand typically ignore. Instead, they rely on artificially constructed data on total factor productivity (TFP). However, when it comes to the TFP data the art of construction varies widely. Consequently, economists in New Zealand also struggle to gather consensus on how to interpret those data. In the above paper I argue that such a consensus would be impossible to achieve since the interpretation of the TFP data crucially depends on the specific model that one uses. The data on GDP per hour or real earnings per hour, however, raise far less controversy w...

We present a neo-classical model that explores the determinants of growth- inequality correlation and attempts to reconcile the seemingly conflicting evidence on the nature of the growth-inequality relationship. The initial distribution of human capital determines the long-run income distribution and the growth rate by influencing the occupational choice of the agents. The steady-state proportion of adults that innovates and updates human capital is path dependent. The output elasticity of skilled-labour, barriers to knowledge spillovers, and the degree of redistribution determine the range of steady-state equilibria. From a calibration experiment we report that a skill-intensive technology, low barriers to knowledge spillovers, and high degrees of redistribution characterize the industrial countries with a positive growth-inequality correlation. A negative correlation between growth and inequality arises for the group of non-industrial countries with the opposite characteristics. JEL classification: E1, O4 Qu'est-ce qui sous-tend la correlation transversale entre la croissance des pays et son niveau d'inegalite´? On presente un modele neo-classique qui explore les determinants de la correlation croissance-inegaliteet on tente de reconcilier les resultats qui semblent contra- dictoires ace propos. La distribution initiale de capital humain determine la distribution des revenus along terme et le taux de croissance en influant sur le choix occupationnel des agents.

Productivity, measured by output per hour, grew by less than one percent per annum in post reform New Zealand. During the same period productivity grew at a rate two times faster in relatively protected Australia and one and half time faster in the “free market” economy of the US. This spectacular failure of economic reforms in boosting productivity growth to the international standard calls for an explanation. Unfortunately, nobody has yet offered a theoretical model of economic growth to respond to that call. This paper is an attempt to start that process within the academic discipline established by Solow, Lucas and Prescott, the only three growth economists who are Nobel Laureates. It offers an endogenous growth model with endogenous rent seeking, which adversely affects the economy's total factor productivity (TFP). The model determines TFP as a function of economic policy and not as unexplainable residuals, unlike most previous studies. In particular, it provides explicit formulas for measuring TFP ...

The distribution of human capital is a recent addition to the list of fundamental determinants of growth. This paper addresses an important problem of how to utilize recently available data on the highest educational attainment of adults in the labor force to represent the human capital distribution of a country by a smooth probability density function. Using the data of Barro and Lee, over-dispersed Poisson and negative binomial distributions are selected to fit the distribution of the number of years of school. Our empirical investigations suggest that these standard discrete probability distributions are too smooth to account for properties of the data, i.e., schooling is more likely to be terminated at the completion of a level of attainment (e.g., primary, secondary, and higher education) than in the middle of one, an important feature contained in the frequency distribution of highest educational attainment. Future research should focus on more complex models which account for these spikes in the data.

The paper incorporates Tobin's portfolio balance theory into an overlapping generations model of growth with endogenously valued money in which fiscal policy and/or monetary policy can change the steady state level of the capital stock. The optimal inflation rate that maximizes the steady-state capital stock is a function of the nominal interest rate and the income tax rate. For example, when the nominal interest rate equals 6%, government balances its budget and sets the average income tax rate to be 20%, then the optimal inflation rate for the model economy is about 3.39%. The model can be used to demonstrate how open market intervention could hinder economic growth when the targeted inflation rate is not equal to the optimal inflation rate. In the model, money is neutral but not super neutral. In contrast, with most models that explain real effects of inflation, anticipated changes in the inflation rate have a real effect in this model. This occurs because money and nominal government debt enter the economy not as a helicopter drop but as seigniorage and the Ricardian Equivalence does not hold.

The widespread adoption of programmable smart mobile devices like smart phones or Tablet and connecting to public domain of Internet as well as cloud service providers provide newer privacy as well as security challenges across enterprises. Mobile cloud computing has become extremely popular among mobile users and developers who can see a direct benefit albeit resource limitations in mobile devices including battery life, memory space or processing power. Data loss from stolen or decommissioned mobile devices, unsecured information exchange through rouge access points and access of vulnerable network fetch privacy as well as security threats of mobile cloud computing. Data breaches, account hijacking, insecure API exposure, denial of services, malicious insider attacks, loss of encryption key, virtual machine isolation bring forth some of the additional security and privacy threats. In this paper, we have attempted to enumerate several privacy plus security threats and put forth best practices and recommendations as preventive as well counter measures on incidence. We have evaluated the secure coding practices and code offloading frameworks. We have also analyzed the occurrence of software flaws in applications which were developed for payment application domain for last two years and effort put on tokenization to achieve higher level of security using cloud computing.

An optimal redistributive tax-subsidy formula is derived for a growth model where income inequality is endogenously driven by an adult's choice of occupation between work and management. Investment in human capital is the engine of growth. The world's stock of exploitable knowledge as well as the economy's average human capital determine the potential rate of return from investment in human capital in an economy. How much available knowledge would be exploited in the economy depends on the proportion of innovators in our model. A redistributive tax reform impacts growth as well as income inequality via its influence over the occupational choice. The optimal redistributive tax rate is path-dependent in the sense that it depends on the initial wealth distribution. The normative implication of the model is that the optimal capital income tax rate could very well be positive if the initial wealth inequality exceeds a threshold. The optimal capital income tax rate depends inversely on the initial wealth inequality.

Earning regressions often reveal time‐invariant industry premiums. Competitive theories explain them by referring to unobservable characteristics or compensating differentials. Non‐competitive theories do the same by using efficiency wage, insider‐outsider and rent sharing hypotheses. Those theories appear inadequate for explaining what one observes from the New Zealand data: employees receive industry premiums; but so do their self‐employed counterparts; among those with no formal education industry premiums from employment are smaller than those from self‐employment; but as the cohort's education level increases the premium differential increases and becomes positive. To explain those observations I propose a new hypothesis that measures an industry's total factor productivity and the corresponding industry premium.