¿Por qué poca desigualdad fomenta el crecimiento: el ahorro y la inversión de los pobres

(Disponible en idioma inglés únicamente) En este trabajo se tratan las maneras en que los acontecimientos macroeconómicos pueden presionar a los bancos y, en casos extremos, conducir a crisis bancarias. Esto puede ocurrir de muchas maneras y no se trata ningún mecanismo específico. Estas causas macroeconómicas de la vulnerabilidad y las crisis de los bancos tienen implicaciones importantes para los regímenes regulatorios y para la política macroeconómica misma. Buena parte del análisis hace hincapié en la necesidad de fijar la política monetaria teniendo en mente la situación del sistema bancario nacional.

Lewis through a looking glass : public sector employment, rent-seeking, and economic growth

This paper argues that the labor transfer process outlined by the Lewis model (1954) can give rise to surplus labour - in the sense than the marginal product of labour is less that the wage - in the public part of the modern sector and that this may deprive the modern sector of its dynamism. Moreover, creating sheltered employment tends to be self-perpetuating. It creates and consolidates vested interests that seek to perpetuate the protected jobs. In the inverse of the Lewis model, the extent of surplus labour increases, rather than diminishes, over time.Environmental Economics&Policies,Banks&Banking Reform,Economic Theory&Research,Public Sector Economics&Finance,Health Monitoring&Evaluation

The political economy of formal sector pay and employment in developing countries

Domestic labor market outcomes influence the direction and magnitude of the flow of international migration. When wages are low and jobs are scarce, workers tend to migrate to environments where jobs are available at higher wages. But as labor demand grows, a labor-exporting country may become a net labor importer. Such a"migration transition"- already much in evidence in East and Southeast Asian countries and beginning for skilled workers in India - is analogous to the demographic transition. The process of political economy described by the authors affects the level and growth of wages and of formal sector emmployment. So it is important for policymakers concerned about migration to high-income countries to take it into account. An efficient, flexible, responsive labormarket contributes to growth by creating an appropriate economic environment. In this respect, labor policy is like macroeconomic and trade policy. Unlike the accumulation of physical and human capital and technical progress, a well-functioning labor market is not itself a source of economic growth. Yet labor market pathologies, like macroeconomic mismanagement, can be extremely costly, severely constraining growth of output and employment and increasing inequality. Similarly, failure to adequately address the labor-market aspects of policy reform can result in the failure of other dimensions of reform. The smooth functioning of the labor market feeds on itself, enhancing the credibility of both workers and the elite. Conversely, poor labor market performance can also be self-reinforcing. Attempts to reform the labor market feeds on itself, enhancing the credibility of both workers and the elite. The payoff on labor reform can be high for both groups. The challenge is to find mechanisms whereby the credibility of both groups can be bolstered.Labor Policies,Environmental Economics&Policies,Banks&Banking Reform,Municipal Financial Management,Health Economics&Finance,Environmental Economics&Policies,Banks&Banking Reform,Municipal Financial Management,Health Economics&Finance,Labor Standards

Modelling dependency networks to inform data structures in BIM and smart cities

The pervasive deployment of "smart city" and "smart building" projects in cities world-wide is driving innovation on many fronts including; technology, telematics, engineering and entrepreneurship. This paper focuses on the technical and engineering perspectives of BIM and smart cities, by extending building and urban morphology studies as to respond to the challenges posed by Big Data, and smart infrastructure. The proposed framework incorporates theoretical and modelling descriptions to verify how network-based models can act as the backbone skeletal representation of both building and urban complexity, and yet relate to environmental performance and smart infrastructure. The paper provides some empirical basis to support data information models through building dependency networks as to represent the relationships between different existing and smart infrastructure components. These dependency networks are thought to inform decisions on how to represent building and urban data sets in response to different social and environmental performance requirements, feeding that into void and solid descriptions of data maturity models. It is concluded that network-based models are fundamental to comprehend and represent the complexity of cities and inform urban design and public policy practices, in the design and operation phases of infrastructure projects