What do we know about adult mortality and data quality in Peru? Mortality coverage levels and trends from recent decades

Accurate knowledge of adult mortality levels and trends in the developing world is hampered by its widespread lack of complete vital registration systems. Although knowledge of infant and child mortality was once affect by the same problem, survey-based techniques have been more successful in estimating child and infant than adult mortality. The main objective of this paper is to estimate mortality rates for the population aged 5 and above, in Peru by sex. The study evaluates the degree of coverage, and corrects the level of mortality, when necessary, using different methodologies. The literature does not indicate the best method to investigate mortality data problems. Thus, the implementation of alternative methods will improve the understanding of the mortality levels and trends in Peru in recent decades.Peru, adult mortality, demographic methods

Translation-invariant generalized topologies induced by probabilistic norms

In this paper we consider probabilistic normed spaces as defined by Alsina, Sklar, and Schweizer, but equipped with non necessarily continuous triangle functions. Such spaces endow a generalized topology that is Fr\'echet-separable, translation-invariant and countably generated by radial and circled 0-neighborhoods. Conversely, we show that such generalized topologies are probabilistically normable.Comment: 8 pages. Some minor changes and corrections have been mad

The Rise of Accelerated Seasoned Equity Underwritings

Seasoned equity offerings (SEOs) executed through accelerated underwritings have increased global market share recently, raising over $850 billion since 1998, and now account for over half (two-thirds) of the value of U.S. (European) SEOs. We examine 31,242 global SEOs, executed during 1991-2004, which raise over$2.9 trillion for firms and selling shareholders. Compared to fully marketed deals, accelerated offerings occur more rapidly, raise more money, and require fewer underwriters. Importantly, accelerated deals reduce total issuance cost by about 250 basis points. Accelerated deals sell equal fractions of primary and secondary shares, whereas in traditional SEOs primary shares dominate. Announcement period returns are comparable for traditional and accelerated offerings, while secondary and mixed offerings trigger more negative market responses than do primary offerings. We conclude that this rapid, worldwide shift towards accelerated underwriting creates a spot market for SEOs, and represents the long-predicted shift towards an auction model for seasoned equity sales.Equity Offerings, Underwriting, Investment Banking

Coupled magnetic and elastic properties in LaPr(CaSr)MnO manganites

We investigate a series of manganese oxides, the La0.225Pr0.4(Ca1-xSrx)0.375MnO3 system. The x = 0 sample is a prototype compound for the study of phase separation in manganites, where ferromagnetic and charge ordered antiferromagnetic phases coexist. Replacing Ca2+ by Sr2+ gradually turns the system into a homogeneous ferromagnet. Our results show that the material structure plays a major role in the observed magnetic properties. On cooling, at temperatures below 100 K, a strong contraction of the lattice is followed by an increase in the magnetization. This is observed both through thermal expansion and magnetostriction measurements, providing distinct evidence of magneto-elastic coupling in these phase separated compounds

Suppression of timing errors in short overdamped Josephson junctions

The influence of fluctuations and periodical driving on temporal characteristics of short overdamped Josephson junction is analyzed. We obtain the standard deviation of the switching time in the presence of a dichotomous driving force for arbitrary noise intensity and in the frequency range of practical interest. For sinusoidal driving the resonant activation effect has been observed. The mean switching time and its standard deviation have a minimum as a function of driving frequency. As a consequence the optimization of the system for fast operation will simultaneously lead to minimization of timing errors.Comment: 4 pages, 4 figures, in press in Physical Review Letter

UNIFORM OUTPUT SUBSIDIES IN AN ECONOMIC UNION WITH FIRMS HETEROGENEITY

In this paper we show the importance of cost asymmetry and demand curvature in the effect of a uniform output subsidy policy in an economic union. We consider an economic union formed by two countries each with a single firm producing a homogeneous good. We find that when firms have different cost, the optimal level of the uniform subsidy can be negative if the demand is concave enough. The low cost firm expands its market share if the demand function is sufficiently convex whereas in the case of a concave demand function it is the higher cost firm which gains market share. This implies that a uniform output subsidy policy may cause a change in production e¢ciency. Finally, we consider how a divergence between private and social costs of public funds may a¤ect the desirability of such a subsidy policy.Uniform output subsidy policy, economic union, social welfare, cost differences