Systemic oversight frameworks in LAC : current practices and reform agenda

The world financial crisis that started in the US housing market in 2008 brought into evidence deep failures of prudential oversight, linked for the most part to a failure to comprehend and handle systemic risk in a way that could prevent systemic crises. This paper summarizes the responses to the joint World Bank -ASBA survey o the state of systemic oversight in the Latin American and Caribbean financial sectors and reflects on some of the challenges identified by respondents. We found that there is broad consensus among regional financial authorities on the need to enhance the current systemic oversight framework. Improving consolidated supervision to mitigate risk-shifting in conglomerates, adjusting prudential regulations to account for the accumulation of systemic risks, redefining the role of the supervisor to make it more proactive, and improving coordination among local supervisors as well as with foreign supervisors figure preeminently in the regional reform agenda.Banks&Banking Reform,Debt Markets,Emerging Markets,Access to Finance,Currencies and Exchange Rates

From blue to grey tourısm: cultural brand or culture of trademarks

This communication aims at analyzing the fact that tourist destinations are changing in recent times; as Ashworth called it ‘a change from blue to grey tourism’. It moves away from the traditional commonplace model of "Sun and Beach", towards another range of products designed to exploit the existing or made up heritage. The rising number of tourists with 'specific interests' attracted to places with their own identity does not match the original product of ‘Sun and Beach’ and its consequent acculturation. The new tourist consumption includes new products: culture and heritage. The final result is a series of 'blue and grey' products: natural or historic heritage, arranged in a catalog, and manufactured, packaged and distributed with the intention to be consumed. As a consequence, what should above all be a "cultural landmark" given its transcendental value for all human beings, is suffering extreme commercialization that is leading us to labeling it as a "culture of trademarks".Peer Reviewe

A CONTINUOUS MODEL FOR QUAINILPOTENT OPERATORS AND TRANSLATION INVARIANT SUBSPACES IN WEIGHTED L^2 OF R+

In this talk we will show a continuous version of the model due to Foias and Pearcy for quasinilpotent operators defined on a separable, infinite-dimensional complex Hilbert space, providing an approach for studying their invariant subspaces connected to translation invariant subspaces in weighted L^2 of R+

From blue to grey tourısm: cultural brand or culture of trademarks

This communication aims at analyzing the fact that tourist destinations are changing in recent times; as Ashworth called it ‘a change from blue to grey tourism’. It moves away from the traditional commonplace model of "Sun and Beach", towards another range of products designed to exploit the existing or made up heritage. The rising number of tourists with 'specific interests' attracted to places with their own identity does not match the original product of ‘Sun and Beach’ and its consequent acculturation. The new tourist consumption includes new products: culture and heritage. The final result is a series of 'blue and grey' products: natural or historic heritage, arranged in a catalog, and manufactured, packaged and distributed with the intention to be consumed. As a consequence, what should above all be a "cultural landmark" given its transcendental value for all human beings, is suffering extreme commercialization that is leading us to labeling it as a "culture of trademarks".Peer Reviewe

Análisis de estabilidad y del estado tensional de la Presa Estany Gento frente a sismo

La previsión de un recrecimiento de la Presa Estany Gento, situada en una zona de sismicidad alta, requiere de un estudio de estabilidad y tensional de la estructura para adecuar su diseño a las solicitaciones previstas. En este trabajo se pretende realizar un análisis de su afectación frente a todas las solicitaciones actuantes, añadiendo las solicitaciones producidas por un seísmo característico de la zona donde se emplaza. Se analizará la respuesta de la estructura en función de los parámetros como la ductilidad o el estado de llenado del embalse

Invariant subspaces of the Cesaro operator

This paper explores various classes of invariant subspaces of the classical Ces\`{a}ro operator $C$ on the Hardy space $H^2$. We provide a new characterization of the finite co-dimensional $C$-invariant subspaces, based on earlier work of the first two authors, and determine exactly which model spaces are $C$-invariant subspaces. We also describe the $C$-invariant subspaces contained in model spaces and establish that they are all cyclic. Along the way, we re-examine an associated Hilbert space of analytic functions on the unit disk developed by Kriete and Trutt. We also make a connection between the adjoint of the Ces\`{a}ro operator and certain composition operators on $H^2$ which have universal translates in the sense of Rota.Comment: 36 page

Effect of an altered hormonal environment by blood plasma collected after adrenocorticotropic administration on embryo development and gene expression in porcine embryos

Early embryonic development may be affected by adrenal hyperactivity in stressful situations which may lead to endocrine changes in the embryo environment. A sensitive period in porcine embryo development is the 4-cell stage when the embryo genome activation occurs. A mixed in vivo-in vitro system was implemented to test whether an altered milieu around this stage could affect embryo development and blastocyst quality in the porcine model. After in vitro maturation and fertilisation, presumptive zygotes were exposed for 24 h to plasma collected after ovulation from adrenocorticotropic hormone (ACTH) treated, non-ACTH-treated sows; and, medium without plasma, supplemented with bovine serum albumin. Subsequently, embryo development and differences in gene expression were tested among treatments. Cleavage and blastocyst rates did not differ between treatments. Blastocyst quality by morphology assessment was similar when all the resulting blastocysts were included in the analysis. However, when only expanded blastocysts (and onwards) were included in the analysis, the blastocysts from the non-ACTH plasma group showed better quality score. Blastocyst quality by morphological assessment was not mirrored by the transcription levels of various important genes for embryo development whose gene expression profile did not significantly differ among groups. It is likely that the effect of the altered environment provided by plasma from ACTH-treated sows was too short to affect embryo development. Therefore, a brief exposure to an altered endocrine environment may not have harmful consequences for the embryo once fertilisation occurs. (c) 2021 The Authors. Published by Elsevier Inc