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The Epidemiologic Transition can help us understand a fundamental puzzle about aging. The puzzle stems from two seemingly contradictory facts. The first fact is that death rates from noninfectious degenerative maladies – the so-called diseases of aging – increase as people age. It seems to be at odds with the historical fact that for nearly a century in which people were aging more than ever before, the aggregate rates of such diseases have been decreasing. In what sense can both be true? Crucial to resolving the puzzle are the age-profiles of such diseases in cohorts that grew up in the different regimes of the Transition. For each cohort, noninfectious diseases had increased with age, resulting in an upward-sloping age profile, which affirms the first fact. As the regimes were transitioning from the Malthusian to the modern one, however, the profiles of successive cohorts had been shifting downward: death rates from noninfectious diseases were shrinking at each age, signifying the newer cohorts’ greater aging potentials. The shifting profiles had been renewing the cohort mix of the population, shaping the century-long descent of such diseases in aggregate, giving rise to the historical fact. The profiles had shifted early in the cohorts’ adult years, associating closely with the newer epidemiologic conditions in childhood. Those conditions appear to be a circumstance under which aging potentials of cohorts could be misgauged, including in one troubling episode in the first half of the nineteenth century when the potentials had reversed.

This study aims to generalize the following result of McDonald and Siegel (1986) on optimal investment: it is optimal for an investor to invest when project cash flows exceed a certain threshold. This study presents other results that refine or extend this one by integrating timing flexibility and changes in cash flows with time-varying transition probabilities for regime switching. This study emphasizes that optimal thresholds are either overvalued or undervalued in the absence of time-varying transition probabilities. Accordingly, the stochastic nature of transition probabilities has important implications to the search for optimal timing of investment.

In this chapter we review the recent and growing literature on medium-term growth patterns. This strand of research emerged from the realization that for most countries economic development is a highly unstable process; over a course of a few decades, a typical country enjoys periods of rapid growth as well episodes of stagnation and economic decline. This approach highlights the complex nature of growth and implies that studying transitions between periods of fast growth, stagnation, and collapse is essential for understanding the process of long run growth. We document recent efforts to characterize and study such growth transitions. We also update and extend some of our earlier research. Specifically, we use historical data from Maddison to confirm a link between political institutions and propensity to experience large swings in growth. We also study the role of institutions and macroeconomic policies, such as inflation, openness to trade, size of government, and real exchange rate overvaluation, in the context of growth transitions. We find surprisingly complex effects of some policies. For example, trade makes fast growth more likely but also increases the frequency of crises. The size of government reduces the likelihood of fast miracle-like growth while at the same time limiting the risk of stagnation. Moreover, these effects are nonlinear and dependent on the quality of institutions. We conclude by highlighting potentially promising areas for future research.

Fintechs are expected to develop rapidly as technologies that help improve the efficiency of the traditional financial system, but an examination of fintech subbranches shows different behaviors. In some sub-branches, the transition has been accompanied by a higher speed and more success, but in some other sub-branches, the opposite has been observed. The difference in the development of fintech sub-branches and its reasons have been paid less attention. Therefore, this article aims to identify the factors affecting the transition.

The use of new technologies in financial services at the international level has led to the provision of fast, customized and economical services, and the fact that these services are welcomed by the users has created opportunities for fintech's transition. This qualitative research follows the socio-technical phenomenon of fintech transition through narrative research. For its formulation, the transition process of fintech sub-branches was analyzed based on the multi-level analytical framework and Geels et al.’s transition path theory.

Transition is a change from one socio-technical regime to another. The findings of the research showed that these changes are influenced by the following factors: provision of infrastructure, the support of industry incumbents from innovative financial services, policy-making, citizen's welcoming, improving the knowledge and expertise of actors, legal adjustments as well as provision of innovative services.

The fintech transition has a special nature because the speed of developments in fintech is high and there is a series of innovations that are continuously replaced by subsequent innovations. Existing models have often focused on the long-term transition of a technology. This article presents a new approach for the analysis of changes in the short term in such a way that, based on the position of the actors in favor of or against the technological changes and institutional changes of the transition, it has analyzed and identified the factors affecting the transition. By focusing on these factors, policymakers can direct the way of fintech transition and help accelerate and facilitate fintech transition.

This paper aims to give some guidance on the selection of particle numbers per cell and the number of molecules per particle in the micro flow simulation by using DSMC method.

The numerical investigation is performed to study the effects of particle number per cell and the scaling factor of real molecules to a simulated particle on accuracy of DSMC simulation of two‐dimensional micro channel flows in the “slip flow” and “transition flow” regimes.

Numerical results show that both the particle number per cell and the scaling factor have effect on the accuracy of the DSMC results from the statistical error and the physical aspects. In the “slip flow” regime, a larger value of scaling factor can be used to obtain accurate results as compared to the “transition flow” regime. However, in the “transition flow” regime, much less number of particles in each cell can be used to generate accurate DSMC results as compared to the “slip flow” regime.

The present work is limited to the two‐dimensional case.

The results of this paper are very useful for the two‐dimensional micro flow simulation by DSMC.

The work in this paper is original and provides guidance on micro flow simulation.

The purpose of this paper is to explain the issues and variables that influence the bureaucracy’s role and work in the transitional period, which is known with its complexity, uncertainty, instability, ambiguity and asymmetry. This paper highlights the transition from theoretical perspective, giving examples from the Polish experience in transition.

This paper describes the changing roles of public bureaucracies in transitional periods by highlighting their ecology with the transitional period and analyzing the determinants of bureaucracy’s role and functions in terms of participation in policy-making policies, providing consultations to executives and elected officials, working as a mediator in communication and acting as an active participant in the development process giving examples from Poland. Finally, it highlights the way the bureaucracy manages its functions and the internal and external variables that constitute various levels affecting this role in the transition.

Bureaucracy is supposed to function naturally and stably in an unstable environment (transition) as its success in doing these functions and helping the new regime to exceed the transition and achieve its goals depends on many variables (bureaucracy capabilities and skills, history, power, experience, the nature of politics and bureaucratic functions, political support, policy environment, knowledge, cohesion, etc.). Most of these variables were demonstrative in the case of Poland.

This paper will be useful for scholars and policymakers interested in public administration role in the time of transition, especially countries that recently have been experiencing the transition.

Literature, spanning industrial organization and strategic management disciplines, uses variance decomposition to understand the relative importance of firm, industry and business group effects in shaping profitability variations. Some literature analyzes firm profitability under transition to liberalization. Previous research has taken a static before-and-after view on institutional change. This paper aims to focus on the dynamic process of liberalization in India, analyzing how different institutional regime changes alter firm behavior leading to changes in profitability patterns.

Based on a panel data set of several thousand Indian firms, spanning the 26-year period between 1980-1981 and 2005-2006, the authors determine the relative importance of firm, industry and business group effects in explaining manufacturing firms’ profitability variances across different institutional phases. The authors evaluate three propositions that help assess transition dynamics between phases. They determine the quantum of catch-up or falling behind by firms.

Different industries emerge as profitability leaders, as the economy progresses through different liberalization phases. Business groups that have been more effective in resource appropriation, rent-seeking, politician management and non-market activities in a controlled regime are replaced as profit leaders by those that, in a free-market economy, can be capable of intra-business resource allocation tasks and leveraging corporate capabilities.

The approach demonstrates how to analyze the underlying detailed structure of firm-level data, and performance outcomes, to derive nuanced interpretation of factors giving rise to the effects that explain profitability variances, and how to assess the way these effects behave over time. The dynamic evidence-based approach highlights what factors matter, where, when and why, in influencing profitability variances, which are a key dimension of industrial and economic performance.

The purpose of this article is twofold. First, this study characterises the current state of the bio-packaging market's development. Second, it identifies key factors influencing and possible scenarios of the bio-packaging market transition to increase the market share of compostable packaging.

The results of 29 in-depth interviews (IDIs) with representatives of the key groups of bio-packaging supply chains' (SCs') stakeholders were the input for the consideration of the research problem.

The main economic, legal, social and technological enablers and barriers to the bio-packaging regime transition are recognised, and their impact at the market level is explained. The authors recognised the hybrid transition scenario towards an increase in the market share of compostable packaging related to the three traditional pathways of transformation, reconfiguration and technological substitution.

This study contributes to a better understanding of the socio-technical system theory by examining interdependencies between landscape (external environment), market regime (bio-packaging market) and niche innovations (compostable packaging) as well as system transition pathways. The findings and conclusions on bio-packaging market developments can be important lessons learnt to be applied in different countries due to the same current development stage of the compostable packaging lifecycle worldwide.

I survey applications of Markov switching models to the asset pricing and portfolio choice literatures. In particular, I discuss the potential that Markov switching models have to fit financial time series and at the same time provide powerful tools to test hypotheses formulated in the light of financial theories, and to generate positive economic value, as measured by risk-adjusted performances, in dynamic asset allocation applications. The chapter also reviews the role of Markov switching dynamics in modern asset pricing models in which the no-arbitrage principle is used to characterize the properties of the fundamental pricing measure in the presence of regimes.

The purpose of this paper is to achieve a greater understanding of the transitions young adults experience into and out of the labour market and the influence that gender and married/cohabiting status have on employment careers.

The paper focuses on young adults (25-34 years old) in four European countries – Italy, the Netherlands, the UK and Norway – that are representative of different youth transition regimes. Using longitudinal data from EU-SILC survey (for the years 2006-2012) and event history analysis, the authors investigate the effect of the particular set of institutional features of each country, the effect of the cohort of entry and the effect of gender differences in determining transitions across labour market status.

Findings show that the filter exercised by the national institutions has a selective impact on the careers of young adults, with some institutional contexts more protective than others. In this respect, the condition of inactivity emerges as an interesting finding: on one side, it mainly involves women in a partnership, on the other side it is more common in protective youth regimes, suggesting that it may be a chosen rather than suffered condition.

The paper contributes to existing literature by: focusing on a specific category, young adults from 25 to 34 years old, which is increasingly recognised as a critical stage in the life course though it receives less attention than its younger counterpart (15-24); integrating the importance of family dynamics on work careers by analysing the different effects played by married/cohabiting status for men and women.