Does Inflation Targeting Matter for EMEs?

This paper presents an empirical assessment of the performance of EMEs that have adopted inflation targets to conduct monetary policy. In contrast to the evidence previously found for industrial economies, we observe that IT has really mattered for EMEs' price stability. Cross-section and panel estimations consistently suggest that IT has significantly contributed to EMEs' disinflation.Inflation, Prices, EME, EMEs

Assessing the Impact of Real Shocks on Small Dollarized Economies

This paper compares the impact of real shocks on small open economies operating under two opposite corner solutions: flexible exchange rates and official dollarization. Using an asymmetric two-country model of policy coordination, we show that although a pegged regime like dollarization is an effective device to achieve price stability, small open economies might be better off under a flexible exchange rate regime than under dollarization following any symmetric or asymmetric real shock. We also consider the claim that many small economies have only a limited ability to use their own monetary policy effectively and contrast the dollarization regime with one in which a small open economy follows "fear of floating" practices. In this case, we observe that unless its size is trivial, maintaining monetary policy sovereignty--even if it is not fully exploited--allows the domestic economy to experience lower losses from stabilization in the face of symmetric shocks. Only when an economy is negligibly small, are the costs of stabilization following "fear of floating" practices the same as those under dollarization.Credibility problems; dollarization; fear of floating; real shocks

Monetary and Fiscal Policy Coordination

Motivated by the accession of new member states into the European Union, this paper examines the appeal of taking part in a large monetary union from the perspective of small open economies. Consistent with existing findings in the literature, we show that in the absence of fiscal policy considerations, taking part in a large monetary union is counterproductive for a small economy. Nevertheless, once the role of fiscal policy is properly incorporated, taking part in the monetary union becomes desirable from a social perspective. Following these results, we explore the prospects of engaging both economies in fiscal coordination and on how different schemes of policy synchronization can provide the grounds to make cooperation beneficial for the members of a monetary union. We find that when monetary and fiscal authorities cooperate and attempt to exploit externalities for their own benefit, a Pareto efficient outcome can be achieved if fiscal policy in the monetary union is coordinated by a central authority and such authority acts as a Stackelberg leader vis-à-vis the central bank. Our analysis suggests that this regime result superior to (i) a monetary union in which fiscal authorities conduct their policy in an independent or (ii) coordinated fashion, (iii) to a regime where both authorities internalize the effects of their own externalities by allowing the central bank to act as Stackelberg leader and (iv) event to a regime in which the small open economy decides to stay out of the monetary union.Common central bank; policy co-ordination; monetary union; monetary leadership; fiscal leadership

Incumbency and Distributive Politics: Intergovernmental Transfers in Mexico: Incumbency and Distributive Politics

In this article, the objective is to focus on the likelihood that politicians will rely on intergovernmental transfers to pursue political ambition. In what circumstances are incumbents more likely to rely on transfers to win votes, than to reward core supporters? How are constraints (introduced to ensure that politicians rely on predetermined formulae which reduce the incentive to design transfers to win re‐election) likely to influence “distributive politics?” Predictions in this article are tested with reference to intergovernmental transfers to 31 Mexican states between 2004 and 2012

Political pressure and procyclical expenditure: An analysis of the expenditures of state governments in Mexico

© 2014 Elsevier B.V. Government expenditures are procyclical if they increase in periods of economic growth and decrease in periods of economic downturn. This paper tests the proposition that (within federations) political pressures for public expenditure increase the likelihood that expenditures and intergovernmental transfers will be procyclical. An analysis of political pressures in Mexico suggests that political pressures will produce a distinct pattern of procyclical expenditures across fiscal tiers and across government budgets. This prediction is tested with reference to the expenditures of 31 states in Mexico between 2005 and 2010

Efectos citotóxicos de gluconato de clorhexidina en células epiteliales

La necesidad de nuevos agentes antimicrobianos seguros y eficaces, constituyen una prioridad a nivel mundial como alternativas tanto en la prevención, así como en el tratamiento de enfermedades infecciosas debido al incremento de patógenos multirresistentes. La clorhexidina (CHX) ha sido ampliamente utilizada como agente antiséptico en medicina y odontología, con una excelente efectividad  El presente trabajo tuvo como objetivo evaluar la citotoxicidad de la CHX sobre cultivo de la línea celular HeLa. El efecto citotóxico de la CHX fue determinada mediante el ensayo de viabilidad celular MTT. El daño al ADN genómico de la células fue evaluado por el ensayo del cometa, y finalmente para detectar apoptosis se determinó mediante el ensayo de Anexina V. Nuestros resultados mostraron un 0.72% de células viables, representando una toxicidad severa a 1 minuto de exposición por CHX. El ensayo del cometa fue positivo a CHX, dañando el ADN de células HeLa y mostrando la estela clásica de un cometa al mismo tiempo que el control positivo de daño al ADN (Etopósido, ETO). Finalmente, se detectó que la CHX puede llevar a la destrucción de la célula. En conclusión, la clorhexidina es un excelente antiséptico sin embargo, con la incapacidad de excluir a las células de mamífero lo que puede llegar a la destrucción de las mismas teniendo consecuencias importantes en la curació

Análise das competências dos diretores na gestão pedagógica, desde o enfoque das escolas eficazes, do 1º ciclo do Município de Benguela/Angola, segundo a opinião dos docentes

O presente artigo tem como desígnio descrever as competências dos diretores na gestão pedagógica, desde o enfoque das escolas eficazes, segundo a opinião dos docentes. A tipologia de investigação é descritiva, com uma abordagem de integrativa, que engloba métodos mixtos. Por via do focus group foi possível coletar informações relevantes que traduzem a opinião dos seis diretores dos dois segmentos de escolas públicas e particulares. Aos trezentos e sessenta e três docentes das escolas públicas e particulares foi aplicado um inquérito por questionário. O resultado da investigação desvenda semelhanças e diferenças. Os docentes de ambos os segmentos de escolas públicas e particulares, quanto a sua compreensão, afirmam que os diretores são fortes nas três dimensões “gestão do currículo, saberes pedagógicos e inovação educacional”, logo, mostram fortalezas coincidentes em apenas uma competência. Relativamente a dimensão inovação educacional os resultados atribuem fracas competências aos diretores públicos, porém, os diretores particulares são fortes em suas  práticas, na dimensão em causa. Os resultados da pesquisa também aludem que os diretores de ambos os segmentos, demonstram fraquezas nas competências da dimensão gestão do currículo. A importância da investigação consiste em promover um modelo para facilitar a gestão pedagógica nas escolas de Angola, muito centrada nos aspectos administrativos da escola e não na essência da escola, sobretudo na aprendizagem mediada pelos docentes, mas que requer a orientação e apoio do diretor

Bismuth oxide aqueous colloidal nanoparticles inhibit Candida albicans growth and biofilm formation

Abstract: Multiresistance among microorganisms to common antimicrobials has become one of the most significant concerns in modern medicine. Nanomaterials are a new alternative to successfully treat the multiresistant microorganisms. Nanostructured materials are used in many fields, including biological sciences and medicine. Recently, it was demonstrated that the bactericidal activity of zero-valent bismuth colloidal nanoparticles inhibited the growth of Streptococcus mutans; however the antimycotic potential of bismuth nanostructured derivatives has not yet been studied. The main objective of this investigation was to analyze the fungicidal activity of bismuth oxide nanoparticles against Candida albicans, and their antibiofilm capabilities. Our results showed that aqueous colloidal bismuth oxide nanoparticles displayed antimicrobial activity against C. albicans growth (reducing colony size by 85%) and a complete inhibition of biofilm formation. These results are better than those obtained with chlorhexidine, nystatin, and terbinafine, the most effective oral antiseptic and commercial antifungal agents. In this work, we also compared the antimycotic activities of bulk bismuth oxide and bismuth nitrate, the precursor metallic salt. These results suggest that bismuth oxide colloidal nanoparticles could be a very interesting candidate as a fungicidal agent to be incorporated into an oral antiseptic. Additionally, we determined the minimum inhibitory concentration for the synthesized aqueous colloidal Bi2 O3 nanoparticles

Relación entre productividad laboral y remuneraciones: un análisis de proximidad espacial a nivel estatal en la industria manufacturera en México, 2004, 2009, 2014 y 2019

En este documento se analiza la relación entre las remuneraciones y la productividad laboral en México, a nivel estatal, considerando el impacto que la productividad de las entidades vecinas tiene en las remuneraciones locales. La omisión de la estructura espacial en las estimaciones puede conducir a un sesgo en el cálculo del parámetro de productividad. En algunas teorías económicas se considera que los incrementos de la productividad laboral deberían traducirse en aumentos de las remuneraciones. A su vez, dadas las relaciones económicas y productivas entre los territorios, es posible que la productividad de las entidades vecinas tenga un impacto positivo en las remuneraciones locales. En este estudio también se incluyen variables de control. La hipótesis central de la investigación es que existe una relación lineal entre las remuneraciones y la productividad cuando se incorpora en el análisis la estructura espacial.Resumen .-- Introducción .-- I. La productividad, las remuneraciones y la proximidad espacial .-- II. Revisión de trabajos previos .-- III. Conclusiones y recomendaciones

Citotoxicidad y genotoxicidad del clorhidrato de octenidina sobre células humanas

El clorhidrato de  octenidina se emplea como ingrediente principal de enjuagues bucales debido a sus  propiedades bactericidas y antibiopelícula. Aunque la octenidina es ampliamente utilizada, no hay reportes previos que indiquen su posible efecto tóxico en los seres humanos. El objetivo de esta investigación fue analizar la citotoxicidad de la octenidina en las células epiteliales humanas (HeLa). Células HeLa fueron cultivadas y expuestas a varias concentraciones de octenidina y la viabilidad celular se midió mediante ensayos de MTT. Los resultados obtenidos mostraron que no había células vivas después de 24 hrs de incubación al ser tratadas con 0,0125 a 0,05% de octenidina. Sorprendentemente,  las mismas concentraciones de octenidina tuvieron un efecto citotóxico en todas las células HeLa después de sólo 5 minutos de exposición. Estos datos fueron apoyados por la observación de las mismas cultivadas con octenidina mediante microscopía de fluorescencia, que indicaron el daño sobre la membrana plasmática, probablemente alterando su permeabilidad. Empleando ensayos de genotoxicidad, se encontró que la octenidina causa lesiones al ADN genómico. Las concentraciones más bajas de octenidina indujeron un aumento de los niveles de IL-6. Sin embargo, no promueve la apoptosis entre las células epiteliales. Como conclusión; la octenidina es altamente tóxico en las células humanas, por lo tanto los efectos benéficos y nocivos de la octenidina en los seres humanos deben ser valorados en estudios in vivo