Credit Markets in Brazil: The Role of Judicial Enforcement and Other Institutions

Although much progress has been made in understanding the importance of institutional failure in explaining creditors` unwillingness to finance firms and individuals, the pertinent empirical literature still has an important shortcoming: it does not separate out the effects of legal protection, accounting standards and judicial enforcement. This paper tries to overcome this gap by analyzing the discrete effect of the quality of judicial enforcement on the performance of credit markets.

Nuevas Actividades Exportadoras en Brasil: Ventaja Comparativa, Políticas o Auto-Descubrimiento?

Este documento examina los hallazgos de Brasil en la exportación de aviones, teléfonos celulares y carne de cerdo. Todos los casos confirman la importancia que tienen el aumento de la eficacia y los costos irrecuperables en la expansión de las exportaciones y llevan a las siguientes conclusiones: la política económica y la ventaja comparativa desempeñaron un papel importante en la aparición de las nuevas actividades de exportación; las economías de escala fueron un factor determinante y crucial de la competitividad; y una marca de fábrica muy conocida ayudó a superar asimetrías de información y a facilitar el ingreso del producto en los mercados de exportación. Los exportadores se concentraron en el diseño, comercialización, investigación y desarrollo y ensamblaje de productos, haciendo de la coordinación con los proveedores un factor importante en sus estrategias. Las políticas públicas tuvieron además una fuerte influencia, en ocasiones involuntaria. Mientras que los gobiernos pueden fomentar los descubrimientos, especialmente ante las fallas del mercado, las políticas no pueden por sí solas generar el éxito de un exportador.

Nonlinearities and Price Puzzle in Brazil

What is called a price puzzle is a positive and persistent response of ination to a unit shock in the interest rate's innovation. Using a VAR to analyse monetary policy in Brazil, this paper comes to the conclusion that when nonlinearities in the data were considered, most of this e_ect vanishes. This is done _rstly by checking if the series are unit root processes or nonlinear trend stationary. After that a nonparametric co-trending analysis was applied. The test result favored a common nonlinear trend between ination and the interest rate, which seems to a_ect the system innovation analysis, inducing most of the price puzzle e_ect.Monetary Policy, Nonlinearities, Nonlinear Trend, Co-Trending, Common Treds, Price Puzzle

Forecasting Quarterly Brazilian GDP Growth Rate With Linear and NonLinear Diffusion Index Models

This paper uses linear and non-linear diffusion index models and combination of them to produce one-step-ahead forecast of quarterly Brazilian GDP growth rate. The non-linear diffusion index models are not only parsimonious ones, but they also purport to describe economic cycles through a Threshold diffusion index model and a Markov-Switching diffusion index model.Forecasting, Brazilian GDP, Diffusion Index, Threshold, Markov-Switching

LSE Lit Fest 2017 Book Review: the French Revolution: from enlightenment to tyranny by Ian Davidson

In The French Revolution: From Enlightenment to Tyranny, Ian Davidson offers a new examination of the diverse factors that converged to spark and propel this crucial historical event. While the breadth of the book is occasionally overwhelming and characterised more by description than explanation, its rich detail highlights the intricacies of the French Revolution without centralising the role played by any one trend, figure or group, finds Roberto A. Castelar. This book review is inspired by LSE’s Space for Thought Literary Festival 2017, which runs from Monday 20 February – Saturday 25 February 2017. This year’s theme is Revolutions – not only marking the centenary of the Russian Revolution, but also other anniversaries of revolutions in literature, international relations, politics, religion and science. Tickets to events are free and available here

Book review: historically inevitable: turning points in the Russian revolution edited by Tony Brenton

For the edited collection Historically Inevitable: Turning Points in the Russian Revolution, editor Tony Brenton brings together fourteen leading scholars to consider the inevitability of the Russian Revolution by focusing on key turning points. While readers may not necessarily share the authors’ commitment to the utility of counterfactual history, the volume contributes to our understanding of the various agents and actors involved in the Revolution through its detailed perspectives and wealth of information, finds Roberto A Castelar

Book review: rebooting Clausewitz: on war in the 21st century by Christopher J. Coker

In Rebooting Clausewitz: On War in the 21st Century, Christopher J. Coker aims to show how Carl von Clausewitz’s 1832 classic On War still contains important insights for our contemporary moment. While modern readers may not always agree with Clausewitz’s arguments, this work offers a good starting point for identifying elements that can illuminate discussions of war and peace today, finds Roberto A. Castelar. Rebooting Clausewitz: On War in the 21st Century. Christopher J. Coker. Hurst. 2017

Detecting Cognitive, Functional and Behavioral Response to Donepezil in Alzheimer’s Disease: The Role of Attention Tasks

Introduction: Cholinesterase Inhibitors (ChEIs) used in Alzheimer’s Disease (AD) have modest effects, heterogeneous treatment response, and it has been difficult to detect treatment response. The standard research and clinical outcome measure, the Alzheimer’s Disease Assessment Scale-Cognitive subscale (ADAS-Cog) aggregates multiple cognitive domains, and has limited sensitivity. We propose that because acetylcholine is directly linked to the cognitive domain of attention, and ChEIs increase available acetylcholine, measures of attention under high-load conditions could predict long-term cognitive, functional and behavioral response, and thus, unlike global measures, could be sensitive to treatment efficacy. Method: We conducted a longitudinal, open label donepezil trial assessing twenty-three participants with AD at baseline (T1), 6 weeks (T2) and 6 months (T3). Outcome measures were: a) Computerized measures of attention: Foreperiod Effect, Covert Orienting, and Attentional Blink tasks; b) Cognitive: global (ADAS-Cog), memory (Hopkins Verbal Learning Test–Total Recall), executive function (Delis-Kaplan Executive Functioning Scale- Trail Making Test Condition 4); c) Functional: Lawton-Brody Instrumental Activities of Daily Living (IADL); d) Behavioral: Neuropsychiatric Inventory (NPI). Stepwise hierarchical regression analyses were conducted to assess the contribution of different domains, as well as attention change score T2-T1, on ADAS-Cog T3-T1 change score. Linear regressions assessed whether measures of attention at T2 predicted IADL and NPI scores. Results: Our findings show that attention measures at 6 weeks (T2) could predict 6-month (T3) global cognitive response to treatment better than any other memory or executive measure. Moreover, change in attention performance from baseline to 6 weeks (T2-T1) similarly predicted cognitive performance at 6 months (T3). Finally, performance on attention at 6 weeks (T2) also predicted instrumental activities of daily living and neuropsychiatric symptoms at six months (T3). Conclusion: Our findings support our hypothesis that measures of attention under high-load conditions are sensitive to donepezil. Performance on these measures predicted long-term cognitive, functional, and behavioral response to ChEIs

The militarisation of socialism: a study of the bolshevik theory of war

Taking as starting point the assumption that a number of debates connected with the problem of war had a significant impact on the central events of the Russian Revolution, this dissertation seeks to contribute to the understanding of these events by re-examining the visions of war in the leadership of the Bolshevik movement, particularly in the thought of Vladimir Lenin. It offers a general critique of existing accounts by arguing that they have been based on a simplistic notion of the relation between ideology and expediency, and of the Bolshevik views on history, and that their tendency to identify the Bolshevik approach to war with Clausewitz’s theories has distorted the revolutionary undertones of Bolshevism. It proposes, it turn, an alternative interpretation, in which ideology and expediency are seen as mutually constitutive, the Bolshevik approach to history and its relation to their military views are clarified, and the impact of the revolutionary commitments of that political movement on their approach to war is stressed. This interpretation, it is argued, provides the best framework for understanding the Bolshevik position in the various debates over war issues, and reason why this movement diverged from other socialist approaches to war.http://www.ester.ee/record=b4613196*es

Cambios sobre las mas principales plazas de Europa : operados y puestos en práctica segun los cálculos, monedas de cambio y otros particulares que en cada una de ellas se usan /

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