Sudden Stops, Financial Frictions, and Labor Market Flows: Evidence from Latin America

Sudden stops and international financial crises have been a main feature of developing countries in the last three decades. While their aggregate effects are well known, the disaggregated channels through which they work are not well explored yet. In this paper, we study the sectoral responses that take place over episodes of sudden stops. Using job flows from a sectoral panel dataset for four Latin American countries, we find that sudden stops are characterized as periods of lower job creation and increased job destruction. Moreover, these effects are heterogeneous across sectors: we find that when a sudden stop occurs, sectors with higher dependence on external financing experience lower job creation. In turn, sectors with higher liquidity needs experience significantly larger job destruction. This evidence is consistent with the idea that dependence on external financing affects mainly the creation margin and that exposure to liquidity conditions affects mainly the destruction margin. Overall, our results confirm the large labor market effects of sudden stops, and provide evidence of financial conditions being an important transmission channel of sudden stops within a country, highlighting the role of financial frictions in the restructuring process in general.Sudden stops, gross job flows, adjustment, financial frictions

Sudden Stops, Financial Frictions, and Labor Market Flows: Evidence from Latin America

Sudden stops and international financial crises have been a main feature of developing countries in the last three decades. While their aggregate effects are well known, the disaggregated channels through which they work are not well explored yet. In this paper, we study the sectoral responses that take place over episodes of sudden stops. Using job flows from a sectoral panel dataset for four Latin American countries, we find that sudden stops are characterized as periods of lower job creation and increased job destruction. Moreover, these effects are heterogeneous across sectors: we find that when a sudden stop occurs, sectors with higher dependence on external financing experience lower job creation. In turn, sectors with higher liquidity needs experience significantly larger job destruction. This evidence is consistent with the idea that dependence on external financing affects mainly the creation margin and that exposure to liquidity conditions affects mainly the destruction margin. Overall, our results confirm the large labor market effects of sudden stops, and provide evidence of financial conditions being an important transmission channel of sudden stops within a country, highlighting the role of financial frictions in the restructuring process in general.

Genetic and Epigenetic Regulation in Nonalcoholic Fatty Liver Disease (NAFLD)

Genetics and epigenetics play a key role in the development of several diseases, including nonalcoholic fatty liver disease (NAFLD). Family studies demonstrate that first degree relatives of patients with NAFLD are at a much higher risk of the disease than the general population. The development of the Genome Wide Association Study (GWAS) technology has allowed the identification of numerous genetic polymorphisms involved in the evolution of diseases (e.g., PNPLA3, MBOAT7). On the other hand, epigenetic changes interact with inherited risk factors to determine an individual’s susceptibility to NAFLD. Modifications of the histones amino-terminal ends are key factors in the maintenance of chromatin structure and gene expression (cAMP-responsive element binding protein H (CREBH) or SIRT1). Activation of SIRT1 showed potential against the physiological mechanisms related to NAFLD. Abnormal DNA methylation represents a starting point for cancer development in NAFLD patients. Besides, the evaluation of circulating miRNA profiles represents a promising approach to assess and non-invasively monitor liver disease severity. To date, there is no approved pharmacologic therapy for NAFLD and the current treatment remains weight loss with lifestyle modification and exercise. In this review, the status of research into relevant genetic and epigenetic modifiers of NAFLD progression will be discusse

In-loop Feature Tracking for Structure and Motion with Out-of-core Optimization

In this paper, a novel and approach for obtaining 3D models from video sequences captured with hand-held cameras is addressed. We define a pipeline that robustly deals with different types of sequences and acquiring devices. Our system follows a divide and conquer approach: after a frame decimation that pre-conditions the input sequence, the video is split into short-length clips. This allows to parallelize the reconstruction step which translates into a reduction in the amount of computational resources required. The short length of the clips allows an intensive search for the best solution at each step of reconstruction which robustifies the system. The process of feature tracking is embedded within the reconstruction loop for each clip as opposed to other approaches. A final registration step, merges all the processed clips to the same coordinate fram

Esclavos de Temporalidades (El Tucumán, 1768): Posibilidades de una fuente documental

La antropología histórica del mundo hispano en la plenitud del Antiguo Régimen -en la que hemos centrado nuestra investigación en los últimos quince años1- requiere, es obvio, el conocimiento del universo esclavo, que constituía una parte importante de ese mundo. Las fuentes para el estudio de la esclavitud son abundantes, como es bien sabido. Pero no siempre permiten una aproximación estadística a aspectos como la diversidad étnica de los esclavos, su profesión, su salud y los demás asuntos relativos a la demografía histórica. Sin duda, los registros parroquiales son un vehículo de notable valor para llegar a algunos de estos aspectos. Pero no siempre existen -incluso existen pocas veces- y, en todo caso, deben agotarse todas las posibilidades que ofrecen fondos documentales complementarios.Peer reviewe

Directional Geodesic Active Contours

We present a non-conformal metric that generalizes the geodesic active contours approach for image segmentation. The new metric is obtained by adding to the Euclidean metric an additional term that penalizes the misalignment of the curve with the image gradient and multiplying the resulting metric by a conformal factor that depends on the edge intensity. In this way, a closer fitting to the edge direction results. The provided experimental results address the computation of the geodesics of the new metric by applying a gradient descent to externally provided curves. The good performance of the proposed techniques is demonstrated in comparison with other active contours methods

Safe Coordination of Autonomous Vehicles

As more and more autonomous vehicles enter our road, new mechanisms must be considered to ensure the safe coordination between the autonomous vehicles. Al- though many algorithms have been proposed to coordinate autonomous vehicles, few of them have considered the robustness of the solution against disturbances. Therefore, in this master’s thesis, a vehicle coordination algorithm that uses vehicle to vehicle (V2V) communication is design in order to achieve collision free trajectories, while rejecting disturbances. Specifically, a robust tube-based model predictive control (MPC) scheme is proposed in order to control the autonomous vehicle. This controller uses series of zonotopic reachable sets (also known as tube) to compute a set of state and input constraints, which ensure the robust feasibility of the problem. To reduce the computational burden of the MPC opti- mization problem, the vehicle model is reformulated into a pseudo-linear model by transforming its non-linear equations into the linear parameter varying (LPV) form. The disturbance rejection is performed by a H∞-optimal corrective con- troller. Finally, the collision avoidance is achieved by a V2V coordination algo- rithm, in which the lateral bounds of a collision free path are computed. To validate the proposed control scheme, a series of simulations have been performed to test the disturbance rejection of the corrective controller, as well as the vehicle coordination capabilities. The results from these tests show that the proposed controller is effective in coordinating a multiple overtaking maneuver, while rejecting the disturbances

User acceptance of open enterprise solution: the OSS-ERP case

Organizations implement Enterprise Resource Planning (ERP) systems with the objective of reaching operational efficiency and the incorporation to new markets through the information flow control on time of the entire organization. However, ERP systems are complex tools, mainly for the small and medium size enterprises (SMEs). For these reason, new ERP configurations have arisen for SMEs such as Open Source Software-ERP (OSS-ERP). OSS-ERP is a research topic barely analyzed by the literature. Specifically, this paper’s aim is to focus on the OSS-ERP users’ acceptance and use. The authors have developed a research model based on the Technology Acceptance Model (TAM) for testing the users’ behavior toward OSS-ERP.Las organizaciones implantan Sistemas Integrados de Gestión (ERP, acrónimo de Enterprise Resource Planning) con el objetivo de alcanzar eficiencias operativas y la incorporación a nuevos mercados mediante un mayor control del flujo de información de toda la empresa a tiempo real. Sin embargo, los sistemas ERP son herramientas complejas, principalmente la pequeña y mediana empresa (PYME). Por esta razón, están surgiendo nuevas configuraciones de sistemas ERP para PYME como los sistemas ERP de código abierto (OSS-ERP). OSS-ERP es un tópico de investigación escasamente analizado en la literatura. Concretamente, este artículo se centra en el y aceptación de los usuarios a los sistemas OSS-ERP. Los autores han desarrollado un modelo de investigación basado en Metamodelo de Aceptación de la Tecnología (TAM) para testar el comportamiento de los usuarios hacia los sistemas OSS-ERP