Common and private property to exhaustible resources: theoretical implications for economic growth

We develop two models of economic growth with exhaustible natural resources and consumers heterogeneous in time preferences. The first model assumes private ownership of natural resources. In the second model, natural resources are commonly owned and the resource extraction rate is chosen by voting. We show that if discount factors are given exogenously, the long-run rate of growth under private property is higher than or equal to that under common property. If the discount factors are formed endogenously, under some circumstances common property can result in a higher rate of growth than private property.natural resources, economic growth, voting, private property, common property

Pension reform and intergenerational altruism in economic dynamics models

A complexity of a pension reform realization in a country with high level of intergenerational altruism is considered as a reason of a failure of the pension reform in Russia. Differences between intergenerational altruism levels in Russia and more modernized western countries are discussed. Overlapping generations models with two-way intergenerational altruism and pension system are analyzed. Successful transition from pay-as-you go pension system to fully funded one is shown to be possible in a modernized society with low level of intergenerational altruism and stable economy. But, even in that case the issue of the transition costs, their volume and distribution remains essential.pension system, pension reform, fully funded pension system, pay-as-you-go pension system, intergenerational transfers, intergenerational altruism, overlapping generations

Stationary States in Bistable System Driven by L\'evy Noise

We study the properties of the probability density function (PDF) of a bistable system driven by heavy tailed white symmetric L\'evy noise. The shape of the stationary PDF is found analytically for the particular case of the L\'evy index \alpha = 1 (Cauchy noise). For an arbitrary L\'evy index we employ numerical methods based on the solution of the stochastic Langevin equation and space fractional kinetic equation. In contrast with the bistable system driven by Gaussian noise, in the L\'evy case the positions of maxima of the stationary PDF do not coincide with the positions of minima of the bistable potential. We provide a detailed study of the distance between the maxima and the minima as a function of the potential's depth and L\'evy noise parameters.Comment: Accepted to EPJS

Investments in development of children from disadvantaged families in Russia as an example of the cost-benefit analysis

The possibilities of cost-benefit analysis are demonstrated when estimating en efficiency of investments in development of children in disadvantageous gamilies in Russia. In Russia, There are no programs similar to the High/Scope Perry Preschool in the U.S.A., and in this preliminary analysis we assume that hypothetical Russian analog of the High/Scope Perry Preschool gives similar results for children involved. But economic and social benefits are estimated taking into account Russian realities: education and health systems, people incomes, tax system, crime etc. We estimate present value of social and economic benefits resulting from the program implementation per child involved. This allows us to calculate maximal costs of hypothetical Russian program up to which it is profitable.cost-benefit analysis, early investment, High/Scope Perry Preschool

A direction finding technique for the ULF electromagnetic source

International audienceA technique of direction finding is proposed, which can be applied to the magnetic-dipole type source located in the conductive ground. To distinguish a weak ULF source signal from the natural noise a network of multicomponent magnetometers is supposed to be used. The data obtained by the ground-based stations is processed in such a way that a set of partial derivatives of the magnetic perturbations due to the source are found. Comparing these derivatives with theoretical formulae makes it possible, in principle, to find the ULF source parameters such as the distance and amplitude. Averaging the data and a special procedure are proposed in order to exclude random fluctuations in the magnetic moment orientation and to avoid hydrogeological and other local factors

An empirical model of optimal import phytosanitary inspection

This paper presents an empirical model of optimal budget allocation for import inspection of imported commodities. In this model, the budget constrained inspecting Agency wants to minimize the expected pest costs related to import trade pathways. The model is applied to the problem of budget allocation for inspection of chrysanthemum cuttings imported to the Netherlands. The numerical results imply that under a budget constraint, resources should be first allocated for inspection of pathways with the greatest expected pest costs. Pathways with lower expected pest costs should receive less or no resources. The inspecting Agency has to trade off risks between inspected and non-inspected pathways.International Relations/Trade,

What's in a Word: “sovereignty” in the Constitutional Court of the Russian Federation

The word “sovereignty” (суверенитет) played a crucial role in Russian political discourse during the second term of Vladimir Putin as the second President of Russia. The word formed part of a pair: “sovereign democracy” (cуверенная демократия), extracted by Vitaliy Tretyakov (2005) and Vladislav Surkov (2006), the ideologist of the regime, from Putin’s first six annual addresses to parliament to 2005. The discourse was encapsulated in the collection of articles, including Putin’s addresses and articles by Medvedev and others, published later in 2006 (Garadja, 2006). I explore these issues in my book on Russia (Bowring, 2013 b). This article explores the role played by “sovereignty in the legal discourse of the Chairman of the Constitutional Court of the Russian Federation, Valeriy Zorkin. Mr Zorkin, born in 1943, has been a judge of the Court since its establishment in 1991. He served as Chairman from 1991 to 1993, when the Court was suspended after it declared unconstitutional Boris Yeltsin’s storming of the Supreme Soviet in the White House and, tearing up of the Constitution. He resumed his role as a judge of the Court in 1994, and in 2003 he was again elected Chairman, a post he still holds