Exchange Rate Regimes for the New Member States of the European Union

One important issue for the new Member States (NMS) of the EU is the choice of the exchange rate regime that will allow them to participate successfully in the EMU process. Two exchange rate arrangements, compatible with the EU Treaty and ERM2 regulations, deserve special attention: flexible exchange rate regime and currency board with respect to the euro. The first regime (within stipulated bands), coupled with an inflation targeting scheme, agrees with the spirit of the European Commission and absorbs more easily supply shocks and Balassa Samuelson effects (which are present in real convergence and catching up episodes). It also prompts the process of nominal convergence. The second regime is suited to countries that need to foster the credibility of their monetary policy, but makes real adjustments to country-specific shocks and Balassa-Samuelson effects more difficult and/or costly. In this paper we investigate the dynamics of output and inflation under each exchange rate regime in NMS during the post EU accession and Maastricht phases. For that purpose, our model extends Gerlach and Smets (2000) and Detken and Gaspar (2003), icluding market distortions and three possible exchange rate regimes. In the empirical part of the paper we estimate SVAR models, following Bayoumi and Eichengreen (1993) methodology, in order to extract variances and covariances between shocks to each NMS and to the euro zone and compute individual social losses under each exchange rate arrangement. We use monthly data on industrial production and CPI for eight NMS countries. Our main result is that the optimal choice varies depending on the institutional and structural features of each economy, and on the likely source and nature of economic shocks to which it is exposed with respect to the whole euro area. Interestingly, the results for each country seem to conform to the general prescriptions that one would derive from the theory of optimal currency areasEU enlargment, exchange rate systems, SVAR, European monetary integration

A Gravity Approach to Assess the Effects of Association Agreements on Euromediterranean Trade of Fruits and Vegetables

The paper is intended to draw on a gravity methodology to assess the impact of EuroMediterranean Association Agreement on Fruit and Vegetable trade from Mediterranean Partner Countries (MPC) to the EU. The Association Agreements appear to be significant as an explanatory of both fruit and vegetables’ trade flows to the EU. However, while the impact of such arrangements has contributed to boost MPC’s horticultural exports, it has not been sufficient to compensate the export loss related to the nature of MPCs as third countries. MPCs may have obtained gains from the EuroMed Agrements but the Barcelona process is still far to achieve its initial goals, at least concerning crucial products for the MPCs’ export strategy. The presented approach supplies a method to monitor future developments in the EuroMediterranean process.agricultural trade; Euro-Mediterranean agreements; fruit and vegetables

Decision-making in an emergency department: A nursing accountability model

The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.Introduction Nurses that work in an emergency department regularly care for acute patients in a fast-paced environment, being at risk of suffering high levels of burnout. This situation makes them especially vulnerable to be accountable for decisions they did not have time to consider or have been pressured into. Research objective The objective of this study was to find which factors influence ethical, legal and professional accountability in nursing practice in an emergency department. Research design Data were analysed, codified and triangulated using qualitative ethnographic content analysis. Participants and research context This research is set in a large emergency department in the Midlands area of England. Data was collected from 186 nurses using participant observation, 34 semi-structured interviews with nurses and ethical analysis of 54 applicable clinical policies Ethical considerations Ethical approval was granted by two research ethics committees and the National Health Service Health Research Authority. Results The main result was the clinical nursing accountability cycle model, which showed accountability as a subjective concept that flows between the nurse and the healthcare institution. Moreover, the relations amongst the clinical nursing accountability factors are also analysed to understand which factors affect decision-making. Discussion The retrospective understanding of the factors that regulate nursing accountability is essential to promote that both the nurse and the healthcare institution take responsibility not only for the direct consequences of their actions but also for the indirect consequences derived from previous decisions. Conclusion The decision-making process and the accountability linked to it are affected by several factors that represent the holistic nature of both entities, which are organised and interconnected in a complex grid. This pragmatic interpretation of nursing accountability allows the nurse to comprehend how their decisions are affected, while the healthcare institution could act proactively to avoid any problems before they happen

MARKET SEGMENTATION AND WILLINGNESS TO PAY FOR ORGANIC PRODUCTS IN SPAIN

In recent years, consumer concerns on environmental and health issues related to food products have increased and, as a result, the demand for organically grown production has grown. Higher costs of production and retailer margins generate a gap between real prices and those that consumers are willing to pay for organic food. In this article, consumer willingness to pay for organic food in two Spanish regions is analyzed. Markets in both regions are segmented considering consumers lifestyles. Results indicate that consumers concerned about healthy diet and environmental degradation are the most likely to buy organic food, and are willing to pay a high premium. Organic attributes are easily identified in perishable products as the premium consumers would pay for organic meat, fruits, and vegetables is higher.Demand and Price Analysis,

Redes sociales y reflexividad: su importancia en la construcción de la sociedad civil en México

El objetivo de este artículo es analizar algunos de los principales rasgos que presenta la reflexividad de las redes sociales en México, y su importancia en la autoconstrucción de la sociedad civil. Se ofrece una revisión de las principales orientaciones teóricas sobre redes sociales en el país, así como un esquema en el que se plantean tres tipos de reflexividad: autoconsciente, autorreferente y constitutiva, como vías específicas para la diferenciación del caso de estudio

La Conservación del Patrimonio en la Obra Civil al inicio del Siglo XXI y sus riesgos

Una vez que la humanidad ha construido un ingente patrimonio, tanto arquitectónico como en obra civil, uno de los principales problemas que enfrenta la ingeniería para el siglo que se inicia es el de su conservación! Todas las estructuras tienden a deteriorarse con el tiempo como consecuencia de la adaptación de los materiales que las componen al entorno en que se encuentran ubicadas, y de su disposición. El mantenimiento en uso de dichas estructuras el mayor tiempo posible genera importantes costes que es preciso reducir con estrategias y técnicas racionales. Dentro de todas ellas, este documento, sin embargo, solo se centrará en aquellas que, por testimoniar nuestra memoria como colectivo, constituyen elementos de valor histórico. Para examinar los principales problemas de conservación que afectan al patrimonio histórico en obra civil, se dividirán formalmente en sus aspectos criteriológicos o doctrinales, estratégicos o metodológicos, y específicamente técnicos

Alcazaba de Mérida: Detalles de la intervención

La muralla de la Alcazaba de Mérida se construyó con granito local extraído de canteras romanas próximas. Las principales patologías se han producido por la acción del agua mediante el lavado de los finos del relleno lo que ha provocado el derrumbe parcial de algunos lienzos de los finos que ha creado sales que atacaban la piedra y arenizaban los sillares

Real-time audio interaction in serious games for music learning

In this LBD, we present several Apps for playing while learning music or for learning music while playing. The core of all the games is based on the good performance of the real-time audio interaction algorithms developed by the ATIC group at Universidad de Ma ́laga (SPAIN).Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech. This work has been funded by the Ministerio de Econom ıa y Competitividad of the Spanish Government under Project No. TIN2013-47276-C6-2-R and by the Junta de Andalucía under Project No. P11-TIC-7154

Modelling Euro-Mediterranean Agricultural Trade

This paper examines the methodological problems to define a modelling approach to assess the impact of full or limited bilateral liberalisation of agricultural trade flows in the Euro-Mediterranean region. The bilateral trade liberalisation process in the region is framed by complexity, in policy instruments and in the characteristics of the products, in particular fruits and vegetables. Advantages and disadvantages of the general equilibrium and partial equilibrium approaches to simulate trade policy impacts are assessed. Caveats of existing models are related to the representation of specific policy instruments (tariffs, entry prices and other non-tariff measures) and on the seasonal nature of horticultural trade, which is of major importance in the Euro-Mediterranean Free Trade Are. The paper provides an illustration of how an imperfect substitute product model could be helpful to describe the trade effects of bilateral price changes, for given seasons.