This paper describes the post-natal development of two fibrocartilages in the quadriceps tendon of the rat. The compression-resisting fibrocartilage of the suprapatella was derived from a cell population present in neonates and positioned on the deep surface of the tendon of vastus intermedius. The cells secreted a metachromatic, coarsely fibrous extracellular matrix that was rich in chondroitin sulphate but lacked keratan sulphate or type II collagen. The cells themselves accumulated large quantities of vimentin. The adult form of the suprapatella was attained 8 weeks after birth. The fibrocartilage of the attachment zone of the quadriceps tendon to the patella was formed in a different manner. In animals up to 4 weeks of age, the quadriceps tendon inserted directly into the cartilage model of the patella. When later this was resorbed, and replaced by bone, the cartilage at the attachment zone remained, along with that of the articular surface of the patella. Attachment-zone fibrocartilage was therefore rich in type II collagen, unlike that of the suprapatella. Thus two functionally different fibrocartilages have been shown to have different origins, even when separated by only a short distance within the same tendon. The compositional differences between attachment-zone and compressive region fibrocartilages are also due to their different origins.
We estimate the extent of factor bias in technical changes consistent with observed changes in skill premia. To control for the effects of expanded trade on wages we use a structural model with multiple regions and comparative static analysis. Two alternative biased technical change stories emerge: skill enhancement when capital and skill are substitutes and capital enhancement when capital and skill are complements. These imply different underlying technical change processes and macroeconomic behaviour in response to technical change shocks. Capital enhancement offers the more credible process, however, and is consistent with observed rises in the "equipment content" of the capital stock.
The shocks that underlie China's comparatively rapid growth include gains in productivity, factor accumulation and policy reforms that increase allocative efficiency. The well-known Balassa-Samuelson hypothesis links productivity growth in tradable industries with real appreciations. Yet it relies heavily on the law of one price applying for tradable goods, against which there is now considerable evidence. In its absence, other growth shocks also affect the real exchange rate by influencing relative supply or demand for home product varieties. This paper investigates the preconditions for the Balassa-Samuelson hypothesis to predict a real appreciation in the Chinese case. It then quantifies the links between all growth shocks and the Chinese real exchange rate using a dynamic model of the global economy with open capital accounts and full demographic underpinnings to labour supply. The results suggest that financial capital inflows most affect the real exchange rate in the short term, while differential productivity is strong in the medium term. Contrary to expectation, in the long term demographic forces prove to be weak relative to changes in the skill composition of the labour force which enhance services sector performance and depreciate the real exchange rate.
The world's two population giants (China and India) have undergone significant, and significantly different, demographic transitions since the 1950s. The demographic dividends associated with these transitions during the first three decades of this century are examined using a global economic model that incorporates full demographic behavior and measures of dependency that reflect the actual number of workers to non-workers, rather than the number of working-aged to non-working-aged. Although much of China's demographic dividend now lies in the past, alternative assumptions about future trends in fertility and labor force participation rates are used to demonstrate that China will not necessarily enter a period of "demographic taxation" for at least another decade, if not longer. In contrast with China, much of India's potential demographic dividend lies in waiting for the decades ahead, with the extent and duration depending critically on a range of factors.* Funding for the research described in this paper is from Australian Research Council Discovery Grant No. DP0557889.Thanks to participants at the Asian Economic Panel meeting for their valuable comments and suggestions, and particularly to Sisira Jayasuriya and Xiaojing Zhang for their careful reading of the paper. Any remaining errors are of course our own. Asian Economic PapersDemographic Dividends, Dependencies, and Economic Growth in China and India transition began in the early 1950s, with the death rate falling dramatically from 25 (per 1,000) in 1950 to 11 in 1965. 1 Infant mortality improved dramatically during this time, although birth rates remained high until 1965, 2 falling steadily thereafter from 37 (per 1,000) in 1965 to 22 in 1980, by which time the death rate had fallen to 7.3. Since 1980, the birth rate continued to fall while the death rate changed only slightly, ranging between 6.6 and 7.5 during the period 1980 to 2010. As the ªgure shows, from nearly identical birth and death rates in 1950, China recorded a more rapid decline in its death rate followed by a more rapid decline in its birth rate, resulting in a more compressed and earlier transition than India. 5 Asian Economic Papers Demographic Dividends, Dependencies, and Economic Growth in China and India 18 Asian Economic Papers Demographic Dividends, Dependencies, and Economic Growth in China and India 14 Death rates are also obvious determinants, though these have had more stable declining Figure 7. Effects of demographic change on real per capita income Source: Simulations of the model described in the text.
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