Showing papers by "Kaushik Basu published in 2008"

Interaction of 7-hydroxyflavone with human serum albumin: a spectroscopic study.

Abstract: Numerous recent investigations have revealed that various synthetic as well as therapeutically active natural flavonoids possess novel luminescence properties that can serve as highly sensitive monitors for exploring their interactions with relevant physiological targets. Here we report a detailed study on the interactions of the model flavone, 7-hydroxyflavone (7HF) with the plasma protein human serum albumin (HSA), employing electronic absorption, fluorescence (steady state and time resolved) and induced circular dichroism (ICD) spectroscopy. The spectral data indicate that in the protein matrix, the neutral 7HF molecules are predominantly transformed to a conjugate anion (7HFA) by a proton abstraction in the ground state. The protein (HSA) environment induces dramatic enhancements in the fluorescence emission intensity, anisotropy (r) and lifetime (tau) values, as well as pronounced changes in the fluorescence excitation and emission profiles of the fluorophore. Moreover, evidence for efficient Forster type resonance energy transfer (FRET, from tryptophan to 7HFA) is presented, from which we infer that the binding site of 7HF in HSA is proximal (estimated distance, R=23.6A) to the unique tryptophan - 214 residue present in the inter-domain (between IIA and IIIA domains) loop region of the protein. The binding constant (K=9.44x10(4)M(-1)) and the Gibbs free energy change (DeltaG=-28.33kJ/mol) for 7HFA-HSA interaction have been estimated from the emission data. Finally, the near-UV circular dichroism (CD) studies show that the electronic transitions of 7HF are strongly perturbed on binding to the chiral host (HSA), leading to the appearance of ICD bands. Implications of these results are discussed.

The Enigma of India

Abstract: India's high growth over the last fifteen years has inspired several recent books and papers to examine the growth's source and sustainability--the two-volume study by Arvind Virmani being a case in point. This paper evaluates these recent works. It is argued that the cause of the take-off does not fit into any easy ideological category as suggested by Virmani. The current high growth has been achieved in several steps, with distinct factors of propulsion behind each step. There is reason to expect the growth to be sustainable, although destabilizing political tensions will arise from the increasing inequality. The paper also evaluates how India's growth relates to the global economy.

Ground- and excited-state proton transfer and antioxidant activity of 3-hydroxyflavone in egg yolk phosphatidylcholine liposomes: absorption and fluorescence spectroscopic studies.

Abstract: Excited-state intramolecular proton transfer (ESIPT) and dual luminescence behaviour of 3-hydroxyflavone (3-HF) have been utilized to monitor its binding to liposomal membranes prepared from egg yolk phosphatydilcholine (EYPC). Additionally, absorption spectrophotometric assay has been performed to evaluate the antioxidant activity of 3-HF against lipid peroxidation in this membrane system. When 3-HF molecules are partitioned into EYPC liposomes, a weak long-wavelength absorption band with lambda(abs)(max) approximately 410 nm appears in addition to the principal absorption at approximately lambda(abs)(max) = 345 nm. Selective excitation of the 410 nm band produces the characteristic emission (lambda(em)(max) approximately 460 nm) of the ground-state anionic species, whereas excitation at the higher energy absorption band leads to dual emission with predominatly ESIPT tautomer fluorescence (lambda(em)(max) = 528 nm). Both ESIPT tautomer and the anionic species exhibit fairly high fluorescence anisotropy (r) values (r = 0.122 and 0.180, respectively). Biexponential fluorescence decay kinetics are observed for the ESIPT tautomer as well as the ground-state anionic forms, indicating heterogeneity in the microenvironments of the corresponding emitting species. Furthermore, we demonstrate that lipid peroxidation of EYPC liposomes is significantly inhibited upon 3-HF binding, suggesting that 3-HF can be potentially useful as an inhibitor of peroxidative damage of cell membranes.

Arguments for a Better World: Essays in Honor of Amartya Sen: Volume I: Ethics, Welfare, and Measurement and Volume Ii: Society, Institutions, and Development

Abstract: Amartya Sen has made deep and lasting contributions to the academic disciplines of economics, philosophy, and the social sciences more broadly. He has engaged in policy dialogue and public debate, advancing the cause of a human development focused policy agenda, and a tolerant and democratic polity. This argumentative Indian has made the case for the poorest of the poor, and for plurality in cultural perspective. It is not surprising that he has won the highest awards, ranging from the Nobel Prize in Economics to the Bharat Ratna, India's highest civilian honor. This public recognition has gone hand in hand with the affection and admiration that Amartya's friends and students hold for him. This volume of essays, written in honor of his 75th birthday by his students and peers, covers the range of contributions that Sen has made to knowledge. They are written by some of the world's leading economists, philosophers and social scientists, and address topics such as ethics, welfare economics, poverty, gender, human development, society and politics. Contributors include: Bina Agarwal, Isher Ahluwalia, Montek S Ahluwalia, Ingela Alger, Sabina Alkire, Paul Anand, Sudhir Anand, Kwame Anthony Appiah, Muhammad Asali, Department of Economics, A. B. Atkinson, Amiya Kumar Bagchi, Pranab Bardhan, Lourdes Beneria, Francois Bourguignon, Sugata Bose, Walter Bossert, John Broome, Satya R. Chakravarty, Lincoln C. Chen, Martha Alter Chen, Kanchan Chopra, Rajat Deb, Simon Dietz, Bhaskar Dutta, James E. Foster, Sakiko Fukuda-Parr, Wulf Gaertner, Indranil K. Ghosh, Jonathan Glover, Peter Hammond, Christopher Handy, Christopher Harris, Cameron Hepburn, Jane Humphries, Rizwanul Islam, Satish K. Jain, Ayesha Jalal, Mary Kaldor, Sunil Khilnani, Stephan Klasen, Jocelyn Kynch, Isaac Levi, Oliver Linton, Enrica Chiappero Martinetti, Kirsty McNay, Martha C. Nussbaum, Siddiqur R. Osmani, Elinor Ostrom, Prasanta K. Pattanaik, Edmund S. Phelps, Mozaffar Qizilbash, Gustav Ranis, Martin Ravallion, Sanjay G. Reddy, Kevin Roberts, Ingrid Robeyns, Maurice Salles, Emma Samman, Cristina Santos, Thomas. M. Scanlon, Arjun Sengupta, Tae Kun Seo, Anthony Shorrocks, Ronald Smith, Rehman Sobhan, Robert M. Solow, Nicholas Stern, Frances Stewart, Joseph E. Stiglitz, S. Subramanian, Kotaro Suzumura, Alain Trannoy, Ashutosh Varshney, Sujata Visaria, Guanghua Wan, Jorgen W. Weibull, John A. Weymark, and Yongsheng Xu. Contributors to this volume - Bina Agarwal, Institute of Economic Growth, University of Delhi Isher Ahluwalia, Indian Council for Research on International Economic Relations Montek S Ahluwalia, Planning Commission, Government of India Ingela Alger, Carleton University Sabina Alkire, University of Oxford Paul Anand, Open University Sudhir Anand, University of Oxford Kwame Anthony Appiah, Princeton University Muhammad Asali, Department of Economics, Columbia University A. B. Atkinson, University of Oxford Amiya Kumar Bagchi, Institute of Development Studies Kolkata Pranab Bardhan, University of California, Berkeley Lourdes Beneria, Cornell University Francois Bourguignon, Paris School of Economics Sugata Bose, Harvard University Walter Bossert, Universite de Montreal John Broome, University of Oxford Satya R. Chakravarty, Indian Statistical Institute Lincoln C. Chen, President, China Medical Board Martha Alter Chen, Harvard University Kanchan Chopra, Institute of Economic Growth, University of Delhi Rajat Deb, Southern Methodist University Simon Dietz, London School of Economics and Political Science Bhaskar Dutta, University of Warwick James E. Foster, Vanderbilt University Sakiko Fukuda-Parr, Professor of International Affairs, The New School Wulf Gaertner, University of Osnabruck Indranil K. Ghosh, Winston Salem State University Jonathan Glover, Kings College London Peter Hammond, University of Warwick Christopher Handy, Cornell University Christopher Harris, University of Cambridge Cameron Hepburn, University of Oxford Jane Humphries, University of Oxford Rizwanul Islam, International Labour Office, Geneva Satish K. Jain, Jawaharlal Nehru University Ayesha Jalal, Tufts University Mary Kaldor, London School of Economics and Political Science Sunil Khilnani, Johns Hopkins University Stephan Klasen, University of Gottingen Jocelyn Kynch, The University of Wales Isaac Levi, Columbia University Oliver Linton, London School of Economics and Political Science Enrica Chiappero Martinetti, University of Pavia Kirsty McNay, Martha C. Nussbaum, University of Chicago Law School Siddiqur R. Osmani, University of Ulster Elinor Ostrom, Indiana University, Bloomington Prasanta K. Pattanaik, University of California, Riverside Edmund S. Phelps, Columbia University Mozaffar Qizilbash, University of York Gustav Ranis, Yale University Martin Ravallion, World Bank Sanjay G. Reddy, Department of Economics, Barnard College, and Institute for Social and Economic Research and Policy, Columbia University Kevin Roberts, University of Oxford Ingrid Robeyns, Radboud University Nijmegen Maurice Salles, Universite de Caen Emma Samman, Queen Elizabeth House, University of Oxford Cristina Santos, University College London Thomas. M. Scanlon, Harvard University Arjun Sengupta, Indian Parliament Tae Kun Seo, Southern Methodist University Anthony Shorrocks, UNU-WIDER Ronald Smith, Birkbeck College Rehman Sobhan, Centre for Policy Dialogue Bangladesh Robert M. Solow, MIT Nicholas Stern, London School of Economics and Political Science Frances Stewart, Queen Elizabeth House, University of Oxford Joseph E. Stiglitz, Columbia University S. Subramanian, Madras Institute of Development Studies Kotaro Suzumura, Hitotsubashi University Alain Trannoy, L'Ecole des Hautes Etudes en Sciences Sociales Ashutosh Varshney, University of Michigan Sujata Visaria, Department of Economics, Boston University Guanghua Wan, UNU-WIDER Jorgen W. Weibull, Stockholm School of Economics John A. Weymark, Vanderbilt University Yongsheng Xu, Georgetown State University

The Oxford Companion to Economics in India

Abstract: INTRODUCTION A-Z ENTRIES STATISTICAL APPENDIX CONTRIBUTORS (WITH ENTRIES) SUBJECT INDEX NAME INDEX

A Theory of Efficiency Wage with Multiple Unemployment Equilibria: How a Higher Minimum Wage Law Can Curb Unemployment

Abstract: This paper uses efficiency wage theory and the existence of community-based sharing to hypothesize that labor markets in developing countries have multiple equilibria - the same economy can be stuck at different levels of unemployment with different levels of wages. The model is meant for developing economies where wage-productivity links are discernible and income-sharing among the poor is prevalent. It seems reasonable to posit that in such an economy more unemployment leads to more income sharing. The main results are generated combining this claim with a theoretical demonstration of the fact that more sharing increases unemployment rates. As corollaries, we show that (1) within the same society, two different racial groups that may be ex ante identical can have different levels of unemployment and wages in equilibrium and (2) the imposition of a legal minimum wage can raise employment.

Arguments for a Better World: Essays in Honor of Amartya Sen: Volume I: Ethics, Welfare, and Measurement

Abstract: Amartya Sen has made deep and lasting contributions to the academic disciplines of economics, philosophy, and the social sciences more broadly. He has engaged in policy dialogue and public debate, advancing the cause of a human development focused policy agenda, and a tolerant and democratic polity. This argumentative Indian has made the case for the poorest of the poor, and for plurality in cultural perspective. It is not surprising that he has won the highest awards, ranging from the Nobel Prize in Economics to the Bharat Ratna, India's highest civilian honor. This public recognition has gone hand in hand with the affection and admiration that Amartya's friends and students hold for him. This volume of essays, written in honor of his 75th birthday by his students and peers, covers the range of contributions that Sen has made to knowledge. They are written by some of the world's leading economists, philosophers and social scientists, and address topics such as ethics, welfare economics, poverty, gender, human development, society and politics. This first volume covers the topics of Ethics, Normative Economics and Welfare; Agency, Aggregation and Social Choice; Poverty, Capabilities and Measurement; and Identity, Collective Action and Public Economics. It is a fitting tribute to Sen's own contributions to the discourse on Ethics, Welfare and Measurement. Contributors include: Sabina Alkire, Paul Anand, Sudhir Anand, Kwame Anthony Appiah, A. B. Atkinson, Walter Bossert, Francois Bourguignon, John Broome, Satya R. Chakravarty, Rajat Deb, Bhaskar Dutta, James E. Foster, Wulf Gaertner, Indranil K. Ghosh, Peter Hammond, Christopher Handy, Christopher Harris, Satish K. Jain, Isaac Levi, Oliver Linton, S. R. Osmani, Prasanta K. Pattanaik, Edmund S. Phelps, Mozaffar Qizilbash, Martin Ravallion, Kevin Roberts, Ingrid Robeyns, Maurice Salles, Cristina Santos, T. M. Scanlon, Arjun Sengupta, Tae Kun Seo, Anthony Shorrocks , Ron Smith, Joseph E. Stiglitz, S. Subramanian, Kotaro Suzumura, Alain Trannoy, Guanghua Wan, John A. Weymark, and Yongsheng Xu. Contributors to this volume - Sabina Alkire, University of Oxford Paul Anand, Open University Sudhir Anand, University of Oxford Kwame Anthony Appiah, Princeton University A. B. Atkinson, University of Oxford Walter Bossert, Universite de Montreal Francois Bourguignon, Paris School of Economics John Broome, University of Oxford Satya R. Chakravarty, Indian Statistical Institute Rajat Deb, Southern Methodist University Bhaskar Dutta, The University of Warwick James E. Foster, Vanderbilt University Wulf Gaertner, University of Osnabruck Indranil K. Ghosh, Winston Salem State University Peter Hammond, The University of Warwick Christopher Handy, Cornell University Christopher Harris, University of Cambridge Satish K. Jain, Jawaharlal Nehru University Isaac Levi, Columbia University Oliver Linton, London School of Economics and Political Science Siddiqur R. Osmani, University of Ulster Prasanta K. Pattanaik, University of California, Riverside Edmund S. Phelps, Columbia University Mozaffar Qizilbash, University of York Martin Ravallion, World Bank Kevin Roberts, University of Oxford Ingrid Robeyns, Radboud University Nijmegen Maurice Salles, Universite de Caen Cristina Santos, University College London Thomas. M. Scanlon, Harvard University Arjun Sengupta, Indian Parliament Tae Kun Seo, Southern Methodist University Anthony Shorrocks, UNU-WIDER Ronald Smith, Birkbeck College Joseph E. Stiglitz, Columbia University S. Subramanian, Madras Institute of Development Studies Kotaro Suzumura, Hitotsubashi University Alain Trannoy, L'Ecole des hautes etudes en sciences sociales Guanghua Wan, UNU-WIDER John A. Weymark, Vanderbilt University Yongsheng Xu, Georgetown State University

Literacies, Identities and Social Change: Interdisciplinary Approaches to Literacy and Development

Abstract: The concept of literacy has an important role in theories of social and human development. The development studies literature has consistently described illiteracy as a pervasive characteristic of ...

Unemployment and Vulnerability: A Class of Distribution Sensitive Measures, its Axiomatic Properties, and Applications

Abstract: Traditional measures of unemployment were only concerned with the total number of people unemployed. In recent years such measures have come under criticism for ignoring those whomay not currently be unemployed but are vulnerable, that is, they live under the risk of becoming unemployed (see Cunningham and Maloney (2000), Glewwe and Hall (1998), Thorbecke (2003)). Alongside this criticism a small but rapidly growing literature is emerging that looks at various aspects of vulnerability and tries to measure it (Amin, Rai, and Topa (2003), Ligon and Schechter (2003), Pritchett, Suryahadi, and Sumarto (2000)).1 There is a presumption in much of this literature and the policy statements of international organizations and governments that since vulnerability is bad, we should craft policy to rescue people from being vulnerable. We argue in this paper that such a prescription is wrong, or, at best, misleading. Under a variety of “normal” situations, having some people vulnerable to unemployment makes the aggregate problem of unemployment less severe (and more bearable). The aim of this paper is to explain this normative stance of ours, to develop a class of unemployment measures that take account of this stance, and then to apply it to US and South African data. The explanation of our normative position is not complicated and the general point can be made simply enough. Suppose there is a society in which, currently,

Product boycott a good idea for controlling child labor? A theoretical investigation

Abstract: A popular form of action to curb child labor and uphold international labor standards in general is a `product boycott' by consumers. There are labeling agencies that inform us if, for instance, a carpet or a hand-stitched soccer ball is free of child labor. The presence of a consumer boycott will typically mean that products tainted by child labor will command a lower price on the market than ones certified to be untainted. It is popularly presumed that such consumer activism is desirable. The paper formally investigates this presumption and shows that consumer product boycotts can, in a wide class of situations, have an adverse reaction that causes child labor to rise rather than fall. This happens under weak and plausible assumptions. Hence, there has to be much greater caution in the use of consumer activism, and one has to have much more detailed information about the context where child labor occurs, before using a boycott.

Labor Retrenchment Laws and their Effect on Wages and Employment: A Theoretical Investigation

Abstract: Many countries have legislation which make it costly for firms to dismiss or retrench workers. In the case of India, the Industrial Disputes Act, 1947, requires firms that employ 50 or more workers to pay compensation to any worker who is to be retrenched. This paper builds a theoretical model to analyze the effects of such antiretrenchment laws. Our model reveals that an anti-retrenchment law can cause wages and employment to rise or fall, depending on the parametric conditions prevailing in the market. We then use this simple model to isolate conditions under which an antiretrenchment law raises wages and employment. In a subsequent section we assume that the law specifies exogenously the amount of compensation, s, a firm has to pay each worker who is being dismissed. It is then shown that as s rises, starting from zero, equilibrium wages fall. However beyond a certain point, further rises in s cause wages to rise. In other words, the relation between the exogenously specified cost to the firm of dismissing a worker and the equilibrium wage is V-shaped.

Experiments with the Traveler's Dilemma: Welfare, Strategic Choice and Implicit Collusion

Abstract: This paper investigates behavior in the Traveler's Dilemma game and isolates deviations from textbook predictions caused by differences in welfare perceptions and strategic miscalculations. It presents the results of an experimental analysis based on a 2x2 design where the own and the other subject's bonus-penalty parameters are changed independently. We find that the change in own bonus-penalty alone entirely explains the effect on claims of a simultaneous change in one's own and the other's bonus-penalty. An increase in the other subject's bonus-penalty has a significant negative effect on claims when the own bonus-penalty is low, whereas it does not have a significant effect when the own bonus-penalty is high. We also find that expected claims are inconsistent with actual claims in the asymmetric treatments. Focusing on reported strategies, we document substantial heterogeneity and show that changes in choices across treatments are largely explained by risk aversion.

Children, Education, Labor and Land: In the Long Run Short

Abstract: The paper uses an overlapping generations model to examine the effects of an increase in a household's land ownership on child labor. Consistent with previous studies, it is found that small increases in land lead to increased child labor. However, as land continues to increase child labor declines. Further, even when an increase in land ownership causes an immediate rise in child labor, there are contexts where long-run child labor (that is aggregated over progenies) declines.