The Missing Pieces of the Economic Debate Over Immigration Reform

To the extent that immigration reform is discussed in terms of economics, the debate tends to focus exclusively on labor issues-specifically, how immigrants affect jobs and wages for native citizens. But to understand the economic effects of immigration, and thus develop sounder policies, policymakers need to consider how immigration affects all three core components of economic growth: not just labor, but capital and innovation too.In the Penn Wharton Public Policy Brief, The Missing Pieces of the Economic Debate Over Immigration Reform/whr.tn/2vmKbK8\u3e, Professor Exequiel Hernandez discusses new research showing that immigration produces gains for the U.S. economy with respect to capital and innovation. Immigrants help to attract investment from foreign firms and significantly increase bilateral trade flows between the U.S. and their home countries. Immigrants also account for roughly a quarter of all U.S. entrepreneurs. They not only generate novel businesses and inventions, but also introduce novel ideas that U.S. citizens develop further to create new products and companies of their own.Just as importantly, labor, capital, and innovation are all interrelated. Policies that target one growth component (such as labor) can carry unintended negative consequences for the other two, and result in undesirable economic outcomes.https://repository.upenn.edu/pennwhartonppi/1059/thumbnail.jp

Immigrants and Firm Performance: Effects on Foreign Subsidiaries Versus Foreign Entrepreneurs

Prior studies have demonstrated that foreign firms co-locate with immigrants from their home countries, but whether this improves profitability is unclear. We demonstrate that co-national immigrant communities positively affect the performance of foreign firms, and that this effect depends on the type of firm (entrepreneurial venture or MNC subsidiary) and manager (foreign versus local). We found that without an immigrant community, a foreign CEO has a negative effect on the performance of foreign entrepreneurial firms. However, this effect becomes positive as the size of the immigrant community increases because entrepreneurial firms with foreign managers benefit more from their co-national communities than similar firms with local managers. Conversely, MNC subsidiaries derive equal benefits from co-locating with immigrants regardless of their CEO’s nationality. This is consistent with our expectation that entrepreneurial firms rely more on local communities than subsidiaries and that CEOs’ social networks allow entrepreneurial firms to relate to these communities

Liberty in Law? Intellectual Property Rights and Global Alliance Networks

Do formal legal institutions complement or substitute social network mechanisms of knowledge protection? We explore how the composition and structure of firms’ international alliance networks changes in response to the passage of intellectual property rights (IPR) laws in their home countries. We find that, when IPR laws are strengthened, firms form more international alliances, particularly if they operate in IP intensive industries, and do so with partners from a greater diversity of countries. The significance of status (centrality) as a predictor of international alliance formation decreased after the passage of IPR laws, in line with a substitution effect that ‘democratized’ access to the global network by increasing the participation of firms that were peripheral before the legal changes. In contrast, the closure of firms’ alliance networks increased with stronger IPR laws, in line with a complementarity effect that increased the use of social control. The increase in closure was strongest in the networks of the low status entrants into the global network. Using a difference-in-difference empirical design, we found that these changes coincided exactly with the timing of the passage of the laws across thirteen countries between 1988 and 2005. This study addresses issues of great theoretical and practical importance to the literatures on institutions, networks, and IPR

Prior Alliances With Targets and Acquisition Performance in Knowledge-Intensive Industries

An important focus of the research on mergers and acquisitions is the conditions under which acquisitions create value for the acquiring firm\u27s shareholders. Given that the acquisition process is plagued by serious issues of information asymmetry, which are exacerbated in the context of knowledge acquisitions, we examine whether prior alliances with potential targets reduce the information asymmetry enough to create “partner-specific absorptive capacity” and yield superior stock returns on acquisition, compared with acquisitions not preceded by alliances. We test our hypotheses on a sample of high-technology acquisitions by U.S. firms during 1990–1998 using an event study methodology to assess abnormal stock returns. We find, unexpectedly, that no significant general effect emerges for acquisitions with prior alliances. However, international acquisitions following alliances show significantly better returns relative to both acquisitions without prior alliances and domestic acquisitions. Additionally, stronger forms of prior alliances lead to better acquisition performance than weaker forms of alliances. Together, the results broadly support our thesis that partner-specific absorptive capacity may be at work and suggest that under certain prior alliance conditions, acquisitions can indeed create value for acquirers

Network Defense: Pruning, Grafting, and Closing to Prevent Leakage of Strategic Knowledge to Rivals

We explore how firms protect themselves from the risks of knowledge spillover to indirectly connected rivals in a network of interorganizational ties. We argue that the safeguards to limit opportunistic behavior by directly linked firms in a dyad, which have been the focus of extant research, are insufficient to overcome extra-dyadic leakage risks. Instead, firms terminate or avoid ties that expose their knowledge to indirectly linked rivals (“pruning” and “grafting”) and embed themselves in dense networks (“closing”) to prevent strategic knowledge spillover. Through a longitudinal study of German board interlocks during 1990–2003, we find that firms are more likely to prune, graft, and close their networks as they accumulate strategic knowledge and as the firms to which they are interlocked increasingly generate indirect ties to competitors, even when controlling for dyadic safeguards discussed by prior research. We capture strategic knowledge by tracking firms’ experience in the former Warsaw Pact countries from immediately after the sudden fall of communism in 1990 until 2003. The study introduces indirect links to rivals as a source of knowledge spillover in networks, shows how firms deal with extra-dyadic risks, and provides a defensive explanation for the evolution of network composition and structure

Comparacion del abordaje terapeutico tradicional y otro basado en biofeedback visual en patologias vocales, en relacion al porcentaje de la pertubacion de la amplitud (Shimmer)

80 p.La presente investigación tuvo por objetivo establecer la existencia de diferencias significativas en relación a la variación del porcentaje de perturbación de la amplitud (Shimmer) en pacientes con disfonía disfuncional simple que se sometieron a 8 sesiones terapéuticas con diferentes enfoques. (Terapia Vocal Tradicional v/s Terapia Vocal Tradicional más Biofeedback Visual). Para comparar la variación del porcentaje de perturbación de la amplitud (Shimmer), se realizó un análisis acústico pre y post terapia, acompañado de una evaluación perceptual de la voz y una telelaringoscopía que permitió descartar daño orgánico. El total de sujetos participantes del estudio correspondió a 18 personas, de los cuales 9 (3 hombre y 6 mujeres) recibieron terapia vocal tradicional y 9 (3 hombres y 6 mujeres) fueron sometidos a terapia vocal tradicional más biofeedback visual. De acuerdo a los resultados obtenidos, se evidenciaron resultados no significativos estadísticamente entre ambos enfoques terapéuticos, dado que la significancia fue 0,965, lo que indica que el porcentaje de perturbación de la amplitud no tuvo una variación importante para ninguno de los enfoques terapéuticos empleados

Medicina paliativa en hospitales públicos de la provincia de Buenos Aires

En ediciones anteriores de la revista MedPal -interdisciplina y domicilio- hemos publicado una breve reseña sobre la conformación del equipo como así también los principios y objetivos del mismo. En esta oportunidad creemos apropiado compartir un poco del camino recorrido.ReseñaHospital Interzonal General de Agudos "Prof. Dr. R. Rossi

Bioeconomic Dynamic Modelling of the Chilean Southern Demersal Fishery

The demersal fishery of southern Chile is a complex system including multiple species, fishing fleets and markets. Fishing activity is conducted under a rights-based system for southern hake (Merluccius australis) and hoki (Macroronus magellanicus), where a TAC is allocated in an even manner among fleets and operators. New management approaches not only call for the need of the simultaneous consideration of biological, technologic, economic, social, legal and institutional factors but also, stakeholders perceptions and interests are becoming increasingly relevant for decision making. In spite of the undeniable importance for stakeholder inclusion in fisheries management, their perception of the system status and expectations are frequently partial and biased by short term needs and interests. Thus, information on expected impacts of alternative management measures are a valuable guiding input to improve stakeholder perception. This paper, therefore explores the value of dynamic simulation model in providing illustrative information on bioeconomic impacts to the fishery system from alternative management measures. The dynamic simulation model is based on two main modules. A biologic module depicting the fish population dynamics, considering recruitment based on Beverton and Holt function. A bioeconomic module depicting fleet dynamics based investment functions by Clark et al. (1979) Munro and Munro (1998) and catch per unit of effort proportional to biomass. The model outputs are the species biomass, fleet size, effort level, fleet and vessel net benefits presented on a year basis. Fishery and fleet cumulative NPVs are also presented.Keywords: Bioeconomic Analysis of Fisheries, Fish and Aquaculture Sectors Development, Fisheries Economic

Regional scale environmental variables complementing a Risk Model of Chagas Disease vectorial transmission

In thIS study we present advances in the analysis of environmental variables obtained from moderate resolution satellite images and their association with infestation indexes by Triatoma infestans (vector of Chagas disease). The environmental variables considered are the result of climatology and anomalY summaries derived from MODIS sensor time series (products MOD11A2 and MOD13A2) for the period 2000 to 2015), land use from Serena and precipitation from TRMM. The infestation, which was measured at the locality / rural LOCATION level, is expressed as a percentage of households with presence of T. infestans. Data was collected from the National Chagas service. Generalized linear models are proposed to associate the infestation with the environmental variables OBTAINED FROM SATELLITE IMAGES and other local conditions (characteristics of the dwellings and the presence of domestic animals). In general, the environmental variables considered in the models have more influence on Infestation indexes than the locals variables. The variables with the best adjustment were: annual average of LST of the years 2013 and 2015, the NDVI of 2014 and the anomalies of NDVI of the same year. These variables showed higher weights than the variables representing local conditions. From an eco-epidemiological perspective, the usage of products derived from sensors with Medium resolution with national coverage are tools which allow decision makers to generate more accurate responses in less time