Notes on the geometry of logic and philosophy

The paper is concerned with topological and geometrical characteristics of ultrafilter space which is widely employed in mathematical logic. Some philosophical applications (modal realism, theory of truth) are offered together with visulisations that reveal the beauty of logical constructions

EIB Working Paper 2021/04 - Aggregate productivity slowdown in Europe

Using firm balance sheet data, this paper shows the impact of credit constraints on allocative efficiency and productivity growth. Allocative efficiency is the extent to which resources, including labour, are distributed to firms with the highest growth prospects, or “stuck” in less productive firms. This paper uses firm balance sheet data to analyse the role of financial constraints in the relatively muted post-crisis rebound in productivity in 2014-17, compared to previous upturns in Europe. It shows that the level of financial leverage played an important role in explaining the change in aggregate productivity growth in Europe between 2004 and 2017. Focusing on Northern and Western Europe, it also shows that the productivity potential could not be fully exploited due to constraints on access to credit. It estimates that reducing collateral bottlenecks could more than double the effectiveness of financial leverage in spurring productivity growth in this region between 2014-17

Evaluación de 2019 de los efectos macroeconómicos del Fondo Europeo para Inversiones Estratégicas con el modelo RHOMOLO-EIB

The European Fund for Strategic Investments (EFSI) is the financial pillar of the Investment Plan for Europe. It tackles the post-crisis investment gap in the European Union (EU) and aims to revive investment in key areas in all the EU Member States. EFSI was launched in 2015 jointly by the European Investment Bank (EIB) Group and the European Commission. Every year, macroeconomic impact assessments are carried out using the spatial dynamic RHOMOLO-EIB model in order to gauge jobs and growth impact of the EFSI-supported operations in the EU. This article illustrates the methodology used for the assessment and reports the result of the latest set of simulations, corresponding to the portfolio of all approved EFSI-supported operations as of the June 13th EIB Board of Directors meeting, 2019. According to the results, EFSI is contributing significantly to job creation and growth. The estimates suggest that, by 2019, more than 1 million jobs are expected to be created thanks to the approved operations (1.7 million by 2022), with a positive contribution to GDP of 0.9% (1.8% expected by 2022) over the baseline.El Fondo Europeo para Inversiones Estratégicas (FEIE) es el pilar financiero del Plan de Inversiones para Europa. Aborda la brecha de inversión posterior a la crisis en la Unión Europea (UE) y tiene como objetivo revivir la inversión en áreas clave en todos los Estados miembros de la UE. El FEIE se lanzó en 2015 conjuntamente por el Banco Europeo de Inversiones (BEI) y la Comisión Europea. Cada año, las evaluaciones de impacto macroeconómico se llevan a cabo utilizando el modelo espacial dinámico RHOMOLO-EIB para medir el empleo y el impacto de las operaciones respaldadas por el FEIE en la UE. Este artículo ilustra la metodología utilizada para la evaluación e informa el resultado del último conjunto de simulaciones, correspondiente a la cartera de todas las operaciones aprobadas respaldadas por el FEIE a partir de la reunión de la Junta Directiva del BEI del 13 de junio de 2019. Según los resultados, FEIE está contribuyendo significativamente a la creación de empleo y al crecimiento. Las estimaciones sugieren que, para 2019, se espera que se hayan creado más de 1 millón de empleos gracias a las operaciones aprobadas (1,7 millones para 2022), con una contribución positiva al PIB del 0,9% (1,8% esperado para 2022) respecto al escenario base

Are European fiscal rules that bad? Discretionary fiscal policies in New Member States

Fincke B, Wolski M. Are European fiscal rules that bad? Discretionary fiscal policies in New Member States. Working Papers in Economics and Management. Vol 25-2013. Bielefeld: Bielefeld University, Department of Business Administration and Economics; 2013.There is no clear-cut evidence on how the adoption of the European fiscal standards in uences discretionary fiscal policies within the Member States. This study investigates that phenomenon on the example of the 2004 enlargement. The results show that the effects of the adoption of EU fiscal rules bring a statistically significant change towards more counter- cyclical behavior. The results are robust for different model specifications, including alternative time spans and correcting for the possible influence of the financial crises and political forces. Interestingly, the year 2004 did not have any significant impact on the change in fiscal policies in the Old Member States, suggesting that the EU entry might motivate new members to run more prudent budgetary policies

EIB Working Paper 2022/03

Small and medium-sized firms play a key role in the European economy. This paper uses statistical methods to estimate the effects of EIB financial support on European companies between 2008 and 2015. It shows that the effects of EIB supported lending on job creation and investments were larger for smaller and younger firms, and that longer maturities and more advantageous loan pricing are associated with larger employment and investment effects. The results suggest that benefits of the EIB support are more noticeable on an intensive margin, instead of on an extensive one

Palliative chemotherapy with kapecytabine and gemcytabine in patients with advenced gallbladder cancer

U 4 chorych na zaawansowanego raka pęcherzyka żółciowego (III lub IV stopień klinicznego zaawansowania) podjęto próbę paliatywnej chemioterapii. U wszystkich chorych wykluczono możliwość leczenia chirurgicznego. Schemat chemioterapii GX obejmował podawanie kapecytabiny (doustnie w dawce 2500 mg/m2 codziennie przez 14 dni) i gemcytabiny (dożylnie w dawce 1000 mg/m2 w dniach pierwszym i ósmym; cykle powtarzane w odstępie 21 dni). U wszystkich chorych uzyskano normalizację lub znaczne obniżenie wartości wyjściowo nieprawidłowych parametrów czynności wątroby (transaminazy i bilirubiny) oraz markerów surowiczych (CEA i CA 19.9), a także stwierdzono złagodzenie lub ustąpienie dolegliwości. Powyższe obserwacje uzasadniają podjęcie prospektywnej oceny wartości chemioterapii z zastosowaniem kapecytabiny i gemcytabiny pod względem wpływu na wskaźniki przeżycia chorych z rozpoznaniem zaawansowanego raka pęcherzyka żółciowego.Palliative chemotherapy was attempted in 4 patients with advanced gallbladder carcinoma (stage III or IV).The possibility of surgical treatment was excluded at all patients. Chemotherapy regimen GX included capecitabine (orally in the daily dose of 2500 mg/m2 day 1 to 14) and gemcitabine (intravenously in the dose 1000 mg/m2 day 1 and 8; repeated every 21 days). Normalization or significant reduction of initially elevated liver function tests (transaminases and bilirubin) and serum markers (CEA and CA 19.9) as well as symptom improvement or disapearance were found in all patients. These findings justify prospective study evaluating capecitabine- and gemcitabine-containing chemotherapy with regard of its impact on survival rates in patients with advanced gallbladder carcinoma