State Of High Production Research Articles

Vertical migration externalities

State income taxes affect federal income tax revenue by shifting the spatial distribution of households between high- and low-productivity states, thereby changing household incomes and tax payments. We derive an expression for these fiscal externalities of state taxes in terms of estimable statistics. An empirical quantification using American Community Survey data reveals that the externalities range from large and negative in some states, to large and positive in others. In California, an increase in the state income tax rate and the resulting change in the distribution of households across states lead to a decrease in federal income tax revenue of 39 cents for every dollar of California tax revenue raised. The externality amounts to a 0.27% decrease in total federal income tax revenue for a 1 pp increase in California’s state tax rate. Our results raise the possibility that state taxes may be set too high in high-productivity states, and set too low in low-productivity states.

State-wise Production Performance of Basmati and Non-Basmati Rice in India

The present study was designed to evaluate the state wise Basmati and non-Basmati rice production performance in India. The study is based on the time series data on area production and yield which were compiled from various sources for a period of 39 years (1980-81 to 2018-19). The sate wise analysis considers for the major basmati and non-basmati production sates by merging the newly divide states to parents’ sates like Telangana to AP etc. While considering overall period in basmati area (6.01%) production (10.55%) and yield (4.28%) shows positive growth rate with 1 per cent level of significance. Allover India shows positive growth rate like area (0.24%), production (1.95%) and Productivity (1.70%) with 1 per cent level of significance. For India, in overall period it is more stable as Area (2.89), Production (6.07) and yield (4.5) give low instability percent. Special attention program is need to enhance the production of rice in Assam and Orissa were two states are in lowest category in terms of productivity, so effects may be taken to increase the productivity in Assam and further increase from medium to high productivity states in case of Andhra Pradesh.

Crude Calculations: Productivity and the Profitability of Conquest

AbstractFor many centuries, conquest was commonplace, and its attractiveness was central to the character of international politics. Why has it declined? Existing theories cannot explain why powerful countries no longer conquer states with easily extractable wealth. We develop an explanation based on the relationship between a potential conqueror's economic productivity and its ability to profit from conquest. Productivity has opposing effects on conquest's profitability: it raises the opportunity cost of each asset diverted to conquest, but also reduces the quantity of assets required for conquest. The net effect is determined by the composition of investment in innovation. We document that since at least 1950 investment has been predominantly aimed at civilian, not military innovations, so that rising productivity should reduce conquest's net profitability. Using cost analyses of comparable wars, we estimate bounds on the profitability of conquering the oil and gas reserves of the Persian Gulf, a very tempting target, for the United States and Iraq, two potential conquerors of widely differing productivity. Though both mechanisms operate, we find that the net effect of higher productivity is to reduce the profits from conquest. Moreover, this net effect is large enough to render conquest generally unprofitable for contemporary high-productivity states.

Capital Misallocation and Risk Sharing

We develop an optimal contracting model in which limited enforcement of financial contracts generates dispersion in marginal products of capital across firms. We show that the optimal contract can be implemented using state-contingent transfers and a simple collateral constraint that limits the capital input of firms by a fraction of the financial wealth of the firm owner. Compared to models with exogenous collateral constraint and incomplete markets (for example Moll (2014)), we find that the degree of measured misallocation is increasing in the persistence of the idiosyncratic productivity shocks. Under the optimal contract, the possibility to transfer wealth from high productivity states to low productivity states allows firm owners to trade off efficient allocation of consumption against the efficient allocation of capital. We show that for reasonable values of risk aversion, insurance needs more than offset production efficiency concerns.

The effects of functional diversity on biomass production, variability, and resilience of ecosystem functions in a tritrophic system

Diverse communities can adjust their trait composition to altered environmental conditions, which may strongly influence their dynamics. Previous studies of trait-based models mainly considered only one or two trophic levels, whereas most natural system are at least tritrophic. Therefore, we investigated how the addition of trait variation to each trophic level influences population and community dynamics in a tritrophic model. Examining the phase relationships between species of adjacent trophic levels informs about the strength of top-down or bottom-up control in non-steady-state situations. Phase relationships within a trophic level highlight compensatory dynamical patterns between functionally different species, which are responsible for dampening the community temporal variability. Furthermore, even without trait variation, our tritrophic model always exhibits regions with two alternative states with either weak or strong nutrient exploitation, and correspondingly low or high biomass production at the top level. However, adding trait variation increased the basin of attraction of the high-production state, and decreased the likelihood of a critical transition from the high- to the low-production state with no apparent early warning signals. Hence, our study shows that trait variation enhances resource use efficiency, production, stability, and resilience of entire food webs.

MANUFACTURING PRODUCTIVITY IN THE INDIAN STATES

In this paper, we study the total factor productivity (TFP) of manufacturing industries in 22 Indian states for the periods 2008–2009 and 2011–2012 using industry data from ASI database. We estimate TFP by ordinary least squares using cross-sectional data. For correcting potential endogeneity, we apply two-stage least-squares approach using intermediate inputs as instruments. Our results show that despite a faster growth in the industries in the sample period, there appear wide regional disparities in the TFP in most industries assessed. We note that low-productivity states display a higher variation in TFP across industries than high-productivity states. Our results also confirm the dominance of capital-intensive techniques in Indian manufacturing. In addition, more importantly, there appears to be no sign of change in elasticity of inputs over the sample period.

Capital regulation and credit fluctuations

Credit cycle stabilization can be a rationale for imposing counter-cyclical capital requirements on banks. The model comprises two productive sectors: in one sector, firms can finance investments through a bond market. In the other, firms rely on bank credit. Financial frictions limit banks’ borrowing capacity. Aggregate shocks impact firms’ productivity. From a welfare perspective, banks lend too much in high productivity states and too little in bad states, although financial markets are complete. Imposing a (stricter) capital requirement in good states corrects capital misallocation, increases expected output and social welfare. Even with risk-neutral agents, stabilization of credit cycles is socially beneficial.

Model of the synthesis of trisporic acid in Mucorales showing bistability

An important substance in the signalling between individuals of Mucor-like fungi is trisporic acid (TA). This compound, together with some of its precursors, serves as a pheromone in mating between (+)- and (-)-mating types. Moreover, intermediates of the TA pathway are exchanged between the two mating partners. Based on differential equations, mathematical models of the synthesis pathways of TA in the two mating types of an idealised Mucor-fungus are here presented. These models include the positive feedback of TA on its own synthesis. The authors compare three sub-models in view of bistability, robustness and the reversibility of transitions. The proposed modelling study showed that, in a system where intermediates are exchanged, a reversible transition between the two stable steady states occurs, whereas an exchange of the end product leads to an irreversible transition. The reversible transition is physiologically favoured, because the high-production state of TA must come to an end eventually. Moreover, the exchange of intermediates and TA is compared with the 3-way handshake widely used by computers linked in a network.

δ 13C evidence that high primary productivity delayed recovery from end-Permian mass extinction

Euxinia was widespread during and after the end-Permian mass extinction and is commonly cited as an explanation for delayed biotic recovery during Early Triassic time. This anoxic, sulfidic episode has been ascribed to both low- and high-productivity states in the marine water column, leaving the causes of euxinia and the mechanisms underlying delayed recovery poorly understood. Here we use isotopic analysis to examine the changing chemical structure of the water column through the recovery interval and thereby better constrain paleoproductivity. The δ 13C of limestones from 5 stratigraphic sections in south China displays a negative gradient of approximately 4‰ from shallow-to-deep water facies within the Lower Triassic. This intense gradient declines within Spathian and lowermost Middle Triassic strata, coincident with accelerated biotic recovery and carbon cycle stabilization. Model simulations show that high nutrient levels and a vigorous biological pump are required to sustain such a large gradient in δ 13C, indicating that Early Triassic ocean anoxia and delayed recovery of benthic animal ecosystems resulted from too much productivity rather than too little.

Cycle changing the medium results in increased nisin productivity per cell in Lactococcus lactis

High specific cellular nisin production was aimed by cycle changing the medium of Lactococcus lactis N8 and LAC48. The highest level of nisin production was reached with the 120 min cycles but maximal production was unstable. In shorter cycles (30 and 60 min) cells could be maintained in a high production state up to the end of the fermentation (28 and 14 cycles). N8 produced 19-fold and LAC48 15-fold more nisin with cycle changing the medium than without cycle incubation.

Stock Return Predictability in a Production Economy

This paper demonstrates that the standard real business cycle model, augmented by capital adjustment costs and variable capital utilization, yields countercyclical consumption growth volatility and equity risk premia predictability. In the model, as in the data, the investment to capital ratio and the fraction of investment in output are procyclical due to consumption smoothing. These two results imply that as productivity declines due to adverse productivity shocks, output falls at increasing rates (since in high productivity states the growth of the economy's stock of capital offsets the effect on output of productivity declines) and investment must be reduced by increasing rates if consumption were to fall at a constant rate. Convex capital adjustment costs and time to build (note that even in the standard RBC model capital takes one period to build) imply a desire for investment smoothing and a trade-off between investment smoothing and consumption smoothing. Since high productivity states are more likely in the data (as well as in the model) than low productivity states, much of the economy's consumption smoothing (i.e. investment fluctuations) occurs when productivity fluctuates between two relatively high states. The desire for investment smoothing implies that in the less frequent cases of transition into lower productivity states, more of the decline in output is absorbed by consumption. Consequently, in the model consumption growth is countercyclical (which is consistent with the empirical findings in Kandel and Stambaugh (1990) and Bekaert and Liu (2004)) as is the equity risk premium. Our model incorporates variable capital utilization rates which give rise to a countercyclical output gap. Model simulations show that the output gap serves as a measure for recessions and is positively correlated with future excess stock returns. In the data we find that the output gap is a strong predictor of future excess returns over both short and long horizons, and does a better job, both in-sample and out-of-sample, than other variables known to predict excess returns.