What drove down natural gas production in Argentina?

We address the causes behind the drop in natural gas production in Argentina since 2004, starting from a basic supply model that depends on economic incentives, and adding control variables related to different potential explanations such as firm specific (or area specific) behavior and the absence of contractual renegotiation of concessions extensions. Results from a panel of the change in natural gas production in all areas between 2004 and 2009 show that once a basic supply-past production (or reserve) relationship is modeled, other often mentioned effects become non-significant. Chiefly among them are firm specific effects and the role of renegotiations of concessions extensions. We find preliminary evidence that post 2007 renegotiations –which are associated with better price prospects- may have had an impact in correcting production decline in one leader firm. Other significant effects come from a negative impact of a change in the seasonality of production that in turn can be related to demand rationing and to price controls. Overall, the evidence suggests that the observed downcycle conforms to the prediction of a simple model of depressed economic incentives acting upon mature conventional natural gas fields and hindering investment in reserve additions or new technologies.Natural gas, peak production,supply behaviour

Energy populism and household welfare

We study a cycle of subsidized energy prices and estimate its welfare impact on households in the Buenos Aires Metropolitan Region. A simple framework explains its emergence in terms of the preference of a median household (voter) for receiving transfer gains followed by a future flow of transfer losses. We evaluate actual transfers and welfare effects that a departure of prices of natural gas and electricity generation from opportunity costs since 2003 had on households and explore the impact of a way back to opportunity cost pricing.energy prices, distortions, subsidies, welfare effects

Where is the ball? Behavioral and neural responses elicited by a magic trick

We present results from two experiments, in which subjects watched continuous videos of a professional magician repeatedly performing a maneuver in which a ball could “magically” appear under a cup. In all cases, subjects were asked to predict whether the ball would appear under the cup or not, while scalp EEG recordings were performed. Both experiments elicited strong and consistent behavioral and neural responses. In the first experiment, we used two blocks of videos with different probabilities of the ball appearing in the cup and found that, first, based on the behavioral responses, the subjects could track this probability change; and second, the different probabilities modulated the neural responses. In the second experiment, we introduced a control condition in which the magician performed the maneuver under the table, out of subjects' view. Comparing the two conditions (i.e., performing the maneuver within or out of the subjects' view), we found that, first, the magic trick dramatically biased the subjects' behavioral responses; and second, the two conditions led to differential neural responses, in spite of the fact that the stimulus triggering the evoked responses (seeing the ball in the cup) was exactly the same. Altogether, our results show how new insights into sensory and cognitive processing can be obtained using adapted magic tricks. Moreover, the approach of analyzing responses to continuous video presentations offers a more ecological setting compared to classic evoked potential paradigms, which are typically based on presenting static images flashed at the center of the screen

Análisis simultáneo de aflatoxinas y ocratoxina A en compost por HPLC-MS

Las aflatoxinas y ocratoxina A son las micotoxinas más estudiadas debido a su elevada toxicidad y amplia distribución. En este trabajo se describe un método de análisis simultáneo de las aflatoxinas B1, B2, G1, G2 y la ocratoxina A en compost por HPLC-MS. El método consiste en una extracción de las toxinas con MeOH:H 2O, posterior purificación de la muestra con cartuchos de extracción en fase sólida y posterior análisis cromatográfico en 18 minutos utilizando una columna XTerra (2.1x100mm, 3.5mm). En este trabajo se demuestra que no hay presencia de las toxinas de interes a concentraciones superiores a 0,2mg/kg

Infrastructure integration and incomplete contracts: natural gas in the Southern Cone

This paper uses evidence on policies, markets and private transactions to discuss the experience of natural gas infrastructure integration in the Southern Cone of Latin America. The argument is that contracts on international exchanges supported by infrastructure may become incomplete due to contingencies related to policy-induced price distortions not anticipated at the moment of writing. Beyond regulatory risk mitigation, it calls for back-up contract provisions designed to cope with aggregate imbalances and for some supranational coordination related to information about market conditions and on energy planning dialogues that test consistency and stress situations in markets where exports originat

What drove down natural gas production in Argentina?

We address the causes behind the drop in natural gas production in Argentina since 2004, starting from a basic supply model that depends on economic incentives, and adding control variables related to different potential explanations such as firm specific (or area specific) behavior and the absence of contractual renegotiation of concessions extensions. Results from a panel of the change in natural gas production in all areas between 2004 and 2009 show that once a basic supply-past production (or reserve) relationship is modeled, other often mentioned effects become non-significant. Chiefly among them are firm specific effects and the role of renegotiations of concessions extensions. We find preliminary evidence that post 2007 renegotiations –which are associated with better price prospects- may have had an impact in correcting production decline in one leader firm. Other significant effects come from a negative impact of a change in the seasonality of production that in turn can be related to demand rationing and to price controls. Overall, the evidence suggests that the observed downcycle conforms to the prediction of a simple model of depressed economic incentives acting upon mature conventional natural gas fields and hindering investment in reserve additions or new technologies

Argentina: crisis, adjustment policies and agricultural development, 1980-1985

Analiza las tendencias dominantes en la agricultura y en la economia hasta la crisis de los anos 70, los programas de ajuste y sus efectos en el sector, y algunas consideraciones acerca de los principales desafios y el papel que le corresponderia a la agricultura en ellos

The first Frontier Fields cluster: 4.5{\mu}m excess in a z~8 galaxy candidate in Abell 2744

We present in this letter the first analysis of a z~8 galaxy candidate found in the Hubble and Spitzer imaging data of Abell 2744, as part of the Hubble Frontier Fields legacy program. We applied the most commonly-used methods to select exceptionally high-z galaxies by combining non-detection and color-criteria using seven HST bands. We used GALFIT on IRAC images for fitting and subtracting contamination of bright nearby sources. The physical properties have been inferred from SED-fitting using templates with and without nebular emission. This letter is focussed on the brightest candidate we found (m$_{F160W}$=26.2) over the 4.9 arcmin$^2$ field of view covered by the WFC3. It shows a non-detection in the ACS bands and at 3.6{\mu}m whereas it is clearly detected at 4.5{\mu}m with rather similar depths. This break in the IRAC data could be explained by strong [OIII]+H{\beta} lines at z~8 which contribute to the 4.5{\mu}m photometry. The best photo-z is found at z~8.0$^{+0.2}_{-0.5}$, although solutions at low-redshift (z~1.9) cannot be completely excluded, but they are strongly disfavoured by the SED-fitting work. The amplification factor is relatively small at {\mu}=1.49$\pm$0.02. The Star Formation Rate in this object is ranging from 8 to 60 Mo/yr, the stellar mass is in the order of M$_{\star}$=(2.5-10) x 10$^{9}$Mo and the size is r~0.35$\pm$0.15 kpc. This object is one of the first z~8 LBG candidates showing a clear break between 3.6{\mu}m and 4.5{\mu}m which is consistent with the IRAC properties of the first spectroscopically confirmed galaxy at a similar redshift. Due to its brightness, the redshift of this object could potentially be confirmed by near infrared spectroscopy with current 8-10m telescopes. The nature of this candidate will be revealed in the coming months with the arrival of new ACS and Spitzer data, increasing the depth at optical and near-IR wavelengths.Comment: 4 pages, 2 figures, Accepted for publication in Astronomy and Astrophysics Letter

Energy populism and household welfare

We study a cycle of subsidized energy prices and estimate its welfare impact on households in the Buenos Aires Metropolitan Region. A simple framework explains its emergence in terms of the preference of a median household (voter) for receiving transfer gains followed by a future flow of transfer losses. We evaluate actual transfers and welfare effects that a departure of prices of natural gas and electricity generation from opportunity costs since 2003 had on households and explore the impact of a way back to opportunity cost pricing