Determinants of Capital Intensive and R&D Intensive Foreign Direct Investment

We study the determinants of capital intensity and technology content of foreign direct investment, an important economic driving force for developing countries. For this purpose, we use sectoral industry data on U.S. foreign investment abroad, and data on host countries' institutional characteristics, like investment climate, protection of property rights, labor standards and constitutional arrangements. Our regressions show that better protection of property rights has a significant positive effect on R&D but not on capital intensive capital flows. There is evidence that an increase in workers' bargaining power results in a reduction of capital and technologically intensive foreign investment. And although the evidence with respect to constitutional arrangements is not very strong, presidential regimes appear to be less able than parliamentary ones to deliver policies attracting R&D intensive capital flows. This is consistent with recent research on the effects of constitutional arrangements on economic growth.FDI

von Neumann-Morgenstern and Savage Theorems for Causal Decision Making

Causal thinking and decision making under uncertainty are fundamental aspects of intelligent reasoning. Decision making under uncertainty has been well studied when information is considered at the associative (probabilistic) level. The classical Theorems of von Neumann-Morgenstern and Savage provide a formal criterion for rational choice using purely associative information. Causal inference often yields uncertainty about the exact causal structure, so we consider what kinds of decisions are possible in those conditions. In this work, we consider decision problems in which available actions and consequences are causally connected. After recalling a previous causal decision making result, which relies on a known causal model, we consider the case in which the causal mechanism that controls some environment is unknown to a rational decision maker. In this setting we state and prove a causal version of Savage's Theorem, which we then use to develop a notion of causal games with its respective causal Nash equilibrium. These results highlight the importance of causal models in decision making and the variety of potential applications.Comment: Submitted to Journal of Causal Inferenc

A mathematical framework for evo-devo dynamics

Funding: This work was funded by an ERC Consolidator Grant to A. Gardner (grant no. 771387), by the School of Biology of the University of St Andrews, and by a John Templeton Foundation grant to K.N. Laland and T. Uller (grant ID 60501).Natural selection acts on phenotypes constructed over development, which raises the question of how development affects evolution. Classic evolutionary theory indicates that development affects evolution by modulating the genetic covariation upon which selection acts, thus affecting genetic constraints. However, whether genetic constraints are relative, thus diverting adaptation from the direction of steepest fitness ascent, or absolute, thus blocking adaptation in certain directions, remains uncertain. This limits understanding of long-term evolution of developmentally constructed phenotypes. Here we formulate a general, tractable mathematical framework that integrates age progression, explicit development (i.e., the construction of the phenotype across life subject to developmental constraints), and evolutionary dynamics, thus describing the evolutionary and developmental (evo-devo) dynamics. The framework yields simple equations that can be arranged in a layered structure that we call the evo-devo process, whereby five core elementary components generate all equations including those mechanistically describing genetic covariation and the evo-devo dynamics. The framework recovers evolutionary dynamic equations in gradient form and describes the evolution of genetic covariation from the evolution of genotype, phenotype, environment, and mutational covariation. This shows that genotypic and phenotypic evolution must be followed simultaneously to yield a dynamically sufficient description of long-term phenotypic evolution in gradient form, such that evolution described as the climbing of a fitness landscape occurs in “geno-phenotype” space. Genetic constraints in geno-phenotype space are necessarily absolute because the phenotype is related to the genotype by development. Thus, the long-term evolutionary dynamics of developed phenotypes is strongly non-standard: (1) evolutionary equilibria are either absent or infinite in number and depend on genetic covariation and hence on development; (2) developmental constraints determine the admissible evolutionary path and hence which evolutionary equilibria are admissible; and (3) evolutionary outcomes occur at admissible evolutionary equilibria, which do not generally occur at fitness landscape peaks in geno-phenotype space, but at peaks in the admissible evolutionary path where “total genotypic selection” vanishes if exogenous plastic response vanishes and mutational variation exists in all directions of genotype space. Hence, selection and development jointly define the evolutionary outcomes if absolute mutational constraints and exogenous plastic response are absent, rather than the outcomes being defined only by selection. Moreover, our framework provides formulas for the sensitivities of a recurrence and an alternative method to dynamic optimization (i.e., dynamic programming or optimal control) to identify evolutionary outcomes in models with developmentally dynamic traits. These results show that development has major evolutionary effects.Publisher PDFPeer reviewe

Naturalness Confronts Nature: Searches for Supersymmetry with the CMS Detector in pp Collisions at √s = 8 and 13 TeV

In this thesis, we present two inclusive searches for supersymmetric particles at 8 and 13 TeV using the razor variables and guided by the principle of naturalness. We build a framework to explore the natural supersymmetry parameter space of gluino and top squark masses and branching ratios, which is a unique attempt to cover this parameter space in a more complete way than ever before using LHC data. With this approach, the production of top squarks and gluinos are excluded below 700 GeV and 1.6 TeV, respectively, independent of the branching ratios, constituting one of the tightest constraints on natural supersymmetry from the LHC. Motivated by the need to mitigate the effects of multiple interactions per bunch crossing (pileup), an essential feature of present and future hadron colliders, in this thesis we also study the precision timing capabilities of a LYSO-based sampling calorimeter, and achieve a time resolution of 30 ps in electron test beam measurements. The achieved resolution corresponds to the precision needed to significantly reduce the inclusion of pileup particles in the reconstruction of the event of interest. This study is foundational in building an R and D program on precision timing for the high-luminosity LHC and other future hadron colliders. We also propose alternative simplified models to study Higgs-plus-jets events at the LHC, and reinterpret an excess observed at 8 TeV in the context of these models. Finally, we discuss a search for narrow resonances in the dijet mass spectrum at 13 TeV using the data-scouting technique at CMS, which records a smaller event format to increase the maximum recordable rate. For the benchmark models with a vector or axial-vector mediator that couples to quarks and dark matter particles, the dijet search excludes mediator masses from 0.5 TeV up to 2.7 TeV largely independent of the dark matter particle mass, which constitutes a larger exclusion than traditional mono-X searches at the LHC. In the plane of the dark matter-nucleon interaction cross section versus dark matter mass, the dijet search is also more sensitive than direct detection experiments for spin-dependent cross sections

No Linealidades en la Regla de Política Monetaria del Banco Central de Chile: Una Evidencia Empírica

Gran parte de la literatura relacionada con las funciones de reacción del Banco Central ha estimado funciones de reacción lineales, asumiendo preferencias cuadráticas para el Banco Central y ecuaciones de oferta y demanda agregadas lineales. Sin embargo, en la práctica estos supuestos pueden ser ampliamente discutidos. Por esta razón, la literatura más moderna en el estudio de las funciones de reacción se ha centrado en el uso de preferencias asimétricas para el Banco Central y/o curvas de Phillips no lineales, asumiendo formas paramétricas particulares para modelar dichas funciones. Esto podría llevar a inferencias erróneas si dichas especificaciones son incorrectas. El estudio de las funciones de reacción no lineales para el caso de Chile aún no ha recibido mucha atención, por lo que este artículo ha tratado de contribuir buscando evidencia que sustente preferencias no lineales. Para ello, se usó el enfoque flexible de inferencia no lineal propuesto por Hamilton (2001). Se encontró que, si bien la respuesta del Banco Central es lineal en relación a los desvíos de la inflación respecto a la meta, existe evidencia de no linealidad respecto al ciclo económico.metas de inflación, funciones de reacción, modelos no-lineales

Requerimientos para formalizar un Sistema de Informacion Gerencial para la Vina Miguel Torres Chile

76 p.En el presente trabajo de titulación, se desarrolla un conjunto de propuestas de mejoras e indicadores productivos desarrollados específicamente para la Viña Miguel Torres Chile, como apoyo para su proceso de toma de decisiones. El marco de referencia para la definición de los indicadores fue el análisis basado en el Balance Scorecard o Cuadro de Mando Integral. Los resultados obtenidos de este trabajo se dividen en dos grupos: el primero son las propuestas al manejo de la información interna y el segundo son los indicadores productivos, de estos últimos se generaron 6 indicadores de tipo inductores de actuación, entre los cuales se mencionan índice de productividad, índice de capacidad de producción utilizada, índice de calidad, etc. Las propuestas sobre el manejo de la información interna, están dirigidas para que el proceso físico sea más fluido y eficiente y algunas de las propuestas son: formato de las ordenes de venta y trabajo, su implementación al software administrativos interno y el manejo de información entre supervisor de etiquetas y el programador. La razón principal de estas propuestas es aumentar la eficiencia en el proceso minimizando tiempo y costos operacionales. El beneficio sustancial de un buen manejo de información se centra en la capacidad que se posee al momento de tomar decisiones en situaciones críticas inesperadas

A Rapid and Efficient Method for Purifying High Quality Total RNA from Peaches (Prunus persica) for Functional Genomics Analyses

http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0716-97602005000100010&lng=es&nrm=isoPrunus persica has been proposed as a genomic model for deciduous trees and the Rosaceae family. Optimized protocols for RNA isolation are necessary to further advance studies in this model species such that functional genomics analyses may be performed. Here we present an optimized protocol to rapidly and efficiently purify high quality total RNA from peach fruits (Prunus persica). Isolating high-quality RNA from fruit tissue is often difficult due to large quantities of polysaccharides and polyphenolic compounds that accumulate in this tissue and co-purify with the RNA. Here we demonstrate that a modified version of the method used to isolate RNA from pine trees and the woody plant Cinnamomun tenuipilum is ideal for isolating high quality RNA from the fruits of Prunus persica. This RNA may be used for many functional genomic based experiments such as RT-PCR and the construction of large-insert cDNA libraries

International Negotiation Simulations: An Examination Of Learning Processes And Outcomes

Negotiation skills are valuable tools especially in the international business context. However, the extent to which negotiation simulations build new skills rather than augment existing skills is unclear. This empirical study focuses on the extent to which Mexican students and U.S. students learned from a negotiation simulation. The results indicate that all students learned something but that the Mexican students learned more

First petrophysical trials over dimension stones of Tierra del Fuego

Se muestran aquí los primeros ensayos de laboratorio sobre las rocas dimensionales de Tierra del Fuego, región que tenía una potencialidad no evaluada respecto al uso posible de este recurso nativo. Nunca habían sido empleadas hasta ahora rocas duras (ígneas) ni pizarras en la construcción residencial, el revestimiento de fachadas ó pisos. Dos pequeñas canteras de rocas plutónicas han sido abiertas recientemente: una de ellas en el cerro Jeu-Jepén, aprovechada para la construcción de la escollera marina del puerto de Río Grande y la ruta nacional, y la otra en la península de Ushuaia, iniciada con el propósito de remover un morro para localizar el aeropuerto y usada últimamente como revestimiento de viviendas. Sobre un grupo de muestras fueguinas se realizaron para este trabajo ensayos físicos de densidad aparente, absorción de agua y porosidad abierta, como asimismo ensayos mecánicos de resistencia a la compresión y a la tensión, y también algunos ensayos Dorry para medir su resistencia a la abrasión. En la Isla Grande de Tierra del Fuego los tipos más apropiados como rocas ornamentales han resultado ser las distintas variedades de rocas granitoides, con relativamente altas resistencias a la compresión y a la tensión. Las rocas del cerro Jeu-Jepén analizadas reúnen entonces las mejores condiciones para su aprovechamiento inmediato: buenos resultados petrofísicos, posibilidad de obtención de bloques de tamaño adecuado, descubrimiento de la cantera y fácil acceso.These are the first trials in laboratory over dimension stones of Tierra del Fuego. The Fuegian territory had a not evaluated potential respect of the possible use of this native resource. Neither hard rocks nor metamorphic rocks (slates) have been applied ever for residential construction, facades and flooring in Fuegian buildings until now. Only in recent years, two little quarries of plutonic rocks have been opened. One of them in the Jeu-Jepen hill, worked firstly to build the breakwaves of Río Grande harbour and then the National railroad. The other one is located in the Ushuaia Peninsula and was started initially to remove a hill for locate the airport and lately used for facings. In the present work, selected stone samples were analysed under standard ASTM test methods for determining compressional strength and modulus of rupture, practiced in accord to IRAM specification for determining apparent density, water absorption and open porosity and Dorry hardness test for measuring the resistance to abrasion. In Isla Grande of Tierra del Fuego the major types of dimension rocks are scarce and randomly distributed granitic bodies, any of them with relatively high compressional and tensional resistance. Therefore, the analyzed rocks of the Jeu-Jepén hill combine among others the best conditions for its immediate use: high petrophysical responses, possibility of obtaining useful-sized blocks, open quarry and easy access.Fil: Acevedo, Rogelio Daniel. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Austral de Investigaciones Científicas; ArgentinaFil: Gonzalez Guillot, Mauricio Alberto. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Austral de Investigaciones Científicas; Argentin