Labour and the Market Value of the Firm What role does labour play in firms’ market value? We explore this question using a production-based asset-pricing model with frictions in the adjustment of both capital and labor. We posit that hiring of labour is akin to investment in capital and that the two interact, with the interaction being a crucial determinant of market value behaviour. We use ag...

The Cobb–Douglas function is today one of the most widely adopted assumptions in economic modeling, yet both its theoretical and empirical bases have long been under question. This paper builds an alternative function on very different (albeit also neoclassical) microfoundations aimed at both addressing those theoretical drawbacks and providing a better empirical fit than the Cobb–Douglas formu...

The changes in the axon and growth cone numbers in the optic nerve of the freshwater turtle Mauremys leprosa were studied by electron microscopy from the embryonic day 14 (E14) to E80, when the animals normally hatch, and from the first postnatal day (P0) to adulthood (5 years on). At E16, the first axons appeared in the optic nerve and were added slowly until E21. From E21, the fibre number in...

BACKGROUND Hypoglossal nerve palsies are infrequent complications of head and neck radiotherapy. Treatments focus on maintaining function and prevention of abnormal airway-related swallowing events. METHODS A patient with longstanding cranial neuropathies, including bilateral hypoglossal involvement, secondary to chemoradiotherapy for nasopharyngeal carcinoma, experienced repeated episodes of...

This paper studies the value of …rms and their hiring and …ring decisions in an environment where the productivity of the workers depends on how well they match with their co-workers and the …rm acts as a coordinating device. Match quality derives from a production technology whereby workers are randomly located on the Salop circle, and depends negatively on the distance between the workers. It...

International guidelines specify target concentrations of low-density lipoprotein cholesterol (LDL-C) to reduce the risk of coronary heart disease. Although statins are the most widely prescribed cholesterol-lowering drugs, they have a number of limitations. A significant number of statin-treated patients do not reach recommended LDL-C target levels, even with high-dose therapy. Each doubling o...

Output per worker varies enormously across countries. Why? On an accounting basis, our analysis shows that differences in physical capital and educational attainment can only partially explain the variation in output per worker — we find a large amount of variation in the level of the Solow residual across countries. At a deeper level, we document that the differences in capital accumulation, p...

Carbon nanomaterials field-effect transistor (FET)-based electrical biosensors provide significant advantages over the current gold standards, holding great potential for realizing direct, label-free, real-time electrical detection of biomolecules in a multiplexed manner with ultrahigh sensitivity and excellent selectivity. The feasibility of integrating them with current complementary metal ox...

This paper makes four points about the recent dynamics of productivity and potential output. First, after accelerating in the mid-1990s, labor and total-factor productivity growth slowed after the early to mid 2000s. This slowdown preceded the Great Recession. Second, in contrast to some informal commentary, productivity performance during the Great Recession and early in the subsequent recover...

The recombinant oncotoxin OLX-209 [e23(Fv)PE38KDEL] has been developed to target cancers with erbB-2 expression and is nearing a clinical trial. Important in clinical planning is the selection of patients on the basis of tumor expression of erbB-2. ErbB-2 gene amplification occurs in cancers of the breast, stomach, and ovary. Patients with these diseases and evident overexpression are candidate...