Speculative Attacks and Models of Balance-of-Payments Crises

This paper reviews recent developments in the theoretical and empirical analysis of balance-of-payments crises. A simple analytical model highlighting the process leading to such crises is first developed. The basic framework is then extended to deal with a variety of issues, such as: alternative post-collapse regimes, uncertainty, real sector effects, external borrowing and capital controls, imperfect asset substitutability, sticky prices, and endogenous policy switches. Empirical evidence on the collapse of exchange rate regimes is also examined, and the major implications of the analysis for macroeconomic policy are discussed.

Sources of pro-cyclicality in east Asian financial systems

Procyclicality is a normal feature of economic systems, but financial sector weaknesses can exacerbate it sufficiently to pose a threat to macroeconomic and financial stability. These include shortcomings in bank risk management and governance, in supervision and in terms of dependence on volatile sources of funds. The paper tests econometrically for the importance of such features leading to pro-cyclicality in the financial systems of 11 East Asian countries. This analysis makes it possible to identify specific policy measures for East Asian countries that could limit the extent to which financial systems exacerbate pro-cyclicality

A combined approach for comparative exoproteome analysis of Corynebacterium pseudotuberculosis

Background: Bacterial exported proteins represent key components of the host-pathogen interplay. Hence, we sought to implement a combined approach for characterizing the entire exoproteome of the pathogenic bacterium Corynebacterium pseudotuberculosis, the etiological agent of caseous lymphadenitis (CLA) in sheep and goats. Results: An optimized protocol of three-phase partitioning (TPP) was used to obtain the C. pseudotuberculosis exoproteins, and a newly introduced method of data-independent MS acquisition (LC-MSE) was employed for protein identification and label-free quantification. Additionally, the recently developed tool SurfG+ was used for in silico prediction of sub-cellular localization of the identified proteins. In total, 93 different extracellular proteins of C. pseudotuberculosis were identified with high confidence by this strategy; 44 proteins were commonly identified in two different strains, isolated from distinct hosts, then composing a core C. pseudotuberculosis exoproteome. Analysis with the SurfG+ tool showed that more than 75% (70/93) of the identified proteins could be predicted as containing signals for active exportation. Moreover, evidence could be found for probable non-classical export of most of the remaining proteins. Conclusions: Comparative analyses of the exoproteomes of two C. pseudotuberculosis strains, in addition to comparison with other experimentally determined corynebacterial exoproteomes, were helpful to gain novel insights into the contribution of the exported proteins in the virulence of this bacterium. The results presented here compose the most comprehensive coverage of the exoproteome of a corynebacterial species so far

Pollution, Public Health Care, and Life Expectancy When Inequality Matters

We analyze the link between economic inequality in terms of wealth, life expectancy, health care and pollution. The distribution of wealth is decisive for the number of households investing in human capital. Moreover, the willingness to invest in human capital depends on agents' life expectancy which determines the length of the amortization period of human capital investments. Life expectancy is positively affected by public health care expenditures but adversely affected by the pollution stock generated by aggregate production. Our model accounts for an endogenous take-off in terms of human capital investments. Higher initial inequality delays the take-off because a given set of policies (abatement measures and public health care) is less effective in improving agents' survival probabilities. We compare a change in taxes to a change in expenditure shares on health hand abatement given different amounts of (initial) inequality. The advantage of the latter as compared to the former is the achieved increase in the tax base which induces more expenditures on health care and abatement measures, such that an even higher economic activity is compatible with a similar level of long-run pollution

PRIVATE SAVINGS IN TRANSITION ECONOMIES: ARE THERE TERMS OF TRADE SHOCKS?

The paper examines the impact of terms of trade shocks on private savings in the transition economies after accounting for the effect of other determinants. Economic agents in the transition economies are subject to tight credit constraints which are more pronounced during bad state of nature. Thus, adverse shocks to commodity prices in the world market can force them to reduce savings by a larger amount than they would otherwise have. Empirical analysis using a dynamic panel model and data from twenty one transition economies confirm that most of the determinants of savings identified in the literature also apply to the transition economies. Favorable movements in both the permanent and transitory components of the terms of trade have a significant positive impact on private savings with transitory movements having a larger impact than the permanent component. This reflects the lack of access to foreign borrowing that many of the transition economies have faced during the last decade. Although the impact of terms of trade shocks are found to be asymmetric, the magnitude of the impact appears to be small. The results are robust for alternative estimators, determinants, and country groupings.http://deepblue.lib.umich.edu/bitstream/2027.42/39958/3/wp572.pd

Reflexões Discentes sobre Estágio Supervisionado, no Internato, para a Formação Médica / Learning in Medical Education: Student Reflections on Supervised Internship

A esse ordenamento. Com a ciência desse fato, intentamos analisar os dados a partir de uma pesquisa quantiqualitativa, do tipo estudo de caso, na visão dos estudantes que concluíram o Internato. Para entendermos como se desenvolveram os estágios supervisionados, identificarmos os pontos de convergência e divergência entre o projeto pedagógico e o vivenciado nos cenários. A metodologia demonstrou eficácia, no que se refere a conhecer como pensam os acadêmicos sobre sua formação, sem acarretar interferências nos resultados da pesquisa, sem depender exclusivamente do pensamento criativo de cada pesquisado. A utilização de questões abertas abriu espaço para discussão, favorecendo a análise. Os resultados desencaderam reflexões: organizar os aspectos para a construção do currículo, planejar atividades junto aos estudantes, manter canal de comunicação com a coordenação, estimular a autonomia na construção da aprendizagem, respeitar o desempenho e a aquisição da autoconfiança profissional