Public Deficits in USMCA Economies During the COVID-19 Economic Crisis

This paper aims to evaluate the fiscal policy implemented by the USMCA economies to deal with the COVID-19 economic crisis. We estimate the economic capacity (potential output) and the Cyclical Primary Balance as a percentage of GDP (CPB) of each of the scrutinized economies. Then we obtain the Cyclical Adjusted Primary Balance as a percentage of GDP (CAPB) as the difference between the Primary Balance (PB) and the CPB. Unlike previous CPB estimations, we obtain the potential output reference as the Economic Capacity methodology (Shaikh and Moudud, 2004), which overcome some alternative methodologies problems. According to our empirical analysis, an asymmetric fiscal policy stands across USMCA economies. Canada and the United States are using a countercyclical fiscal policy, while Mexico uses a procyclical one. Mexico should abandon its current fiscal policy, implement an alternative to support households and firms during crisis periods, and execute a progressive fiscal reform. Our paper's limitation is that we use PB and not its components to estimate the CPB; however, we use a more extended time series, contributing to obtaining more robust results.Déficits públicos de los países del T-MEC durante la crisis económica por COVID-19Nuestro objetivo es evaluar la política fiscal implementada por las economías del T-MEC para enfrentar la crisis del COVID-19. Estimamos la capacidad económica (producto potencial) y el Balance Primario Cíclico como porcentaje del PIB (CPB) de estas economías. Obtenemos el Balance Primario Ajustado por el Ciclo como porcentaje del PIB (CAPB) como la diferencia entre el Balance Primario (PB) y el CPB. A diferencia de estimaciones previas del CPB, el producto potencial se obtiene mediante la metodología de la Capacidad Económica (Shaikh y Moudud, 2004), que resuelve problemas asociados con metodologías alternativas. Nuestro análisis empírico muestra que existe una asimetría: en Canadá y Estados Unidos la política fiscal es anticíclica y en México es procíclica. México debería abandonar su política fiscal actual; implementar una alternativa de apoyo a los hogares y empresas durante los períodos de crisis y ejecutar una reforma fiscal progresiva. Una limitación de nuestro artículo es que usamos PB y no sus componentes para estimar el CPB; sin embargo, utilizamos series de tiempo más largas, lo que contribuye a obtener resultados más robustos

La economía de Medellín vista desde sus indicadores económicos intersectoriales

El proposito del presente trabajo es conocer como es el encadenamiento entre los sectores, que terminaronpor definir el crecimiento economico de la ciudad.La precision teorica de la discusion de los encadenamientos y su importancia en el proceso de desarrollo economico se aborda en las dos primeras partes, despues de la introduccion. Para definir, en las dos secciones siguientes, las categorias y procedimientos que permiten acercar empiricamente los encadenamientos, incluyendo los diferentes multiplicadores. Luego, en la cuarta parte, con base en la matriz insumo-producto (MIP) del municipio, se procede a cuantificar los respectivos valores de los encadenamientos y multiplicadores. Por ultimo, se expone una reflexion donde, ademas, se sugieren posibles rutas de trabajo para la ampliacion del analisis aqui presentado

Inversión Reciente en Uruguay: ¿Hacia un Desarrollo Sostenible?

Este trabajo pretende aportar una primera aproximación sectorial al impacto de la inversión promovida en Uruguay entre 2010 y 2014 sobre el patrón de innovación y el mercado de trabajo. Desde una perspectiva de desarrollo sostenible e inclusivo, se concluye que la inversión promovida no se asocia con ningún patrón de innovación de las empresas a nivel sectorial, ni con variables que hacen al mercado laboral. Se identifican resultados primarios que muestran una asociación de los sectores con mayor inversión promovida en el período, con origen del capital, tamaño de las empresas, mayor productividad y promedio salarial del sector

Does sustainability score impact mutual fund performance?

Given that sustainable investing constitutes a major force across global financial markets, in 2016 Morningstar began reporting Morningstar Sustainability scores. We used the 2016, 2017 and 2018 scores to study the e ects of socially responsible investments (SRI) on European equity fund performance. Sustainability scores impacted positively on performance, which was consistent with the idea that the mutual funds invested in companies with better scores generate better risk-adjusted and not-risk adjusted performance. We also tested the relation on mutual fund flows and risk. The sustainability score in the previous year is significant on the flows, so higher-rated funds receive a larger volume of funds. In terms of risk, the level of sustainability is negatively related to the value at risk (VaR) of the fund, supporting that higher scored mutual funds o er better protection against extreme lossesThis research was funded by (1) the Galician Regional Government ED431B 2017/34 and ED431D 2017/19 co-funded by the European Regional Development Fund (ERDF/FEDER) within the period 2014-2020 and (2) the Ministry of Science, Innovation and Universities (MCIU), the Spanish State Research Agency (AEI) and European Regional Development Fund (RTI2018-100702-B-I00 MCIU/AEI/FEDER, UE)S

Analysis of Conductance Probes for Two-Phase Flow and Holdup Applications

[EN] In this paper we perform an analysis of the conductance probes used in two-phase flow applications especially for two-phase flow tomography of annular flow, to measure the waves produced in the interface with different boundary conditions without perturbing the flow, and in addition we examine the holdup applications as measuring the average void fraction in a given region. The method used to obtain the detector conductance between the electrodes is to solve analytically the generalized Laplace equation in 3D with the boundary conditions of the problem, and then to obtain the average potential difference between the detector electrodes. Then, dividing the current intensity circulating between the emitter and the receiver electrodes by the average potential difference yields the probe conductance, which depends on the geometric and physical characteristics of the measured system and the probe. This conductance is then non-dimensionalized by dividing by the conductance of the pipe full of water. In this way a set of analytical expression have been obtained for the conductance of two-plate sensors with different geometries and locations. We have performed an exhaustive comparison of the results obtained using the equations deduced in this paper with the experimental data from several authors in different cases with very good agreement. In some cases when the distribution of bubbles is not homogeneous, we have explored the different alternatives of the effective medium theory (EMT) in terms of the self-consistent EMT and the non-consistent EMT.This research was funded by Spain Ministry of Science and Technology previously dependent on MINECO (Ministry of Economy and Competitiveness), grant number ENE2016-79489-C2-1-P under Plan Nacional de I+D.Muñoz-Cobo González, JL.; Rivera-Durán, Y.; Berna Escriche, C.; Escrivá Castells, FA. (2020). Analysis of Conductance Probes for Two-Phase Flow and Holdup Applications. Sensors. 20(24):1-29. https://doi.org/10.3390/s20247042S129202

Alimentos consumidos por la ardilla endémica de Perote (Xerospermophilus perotensis) en el Valle de Perote, Veracruz, México

The Perote ground squirrel (Xerospermophilus perotensis) is a micro-endemic rodent, classified as an endangered species by the Mexican NOM-059-SEMARNAT-2010 and the IUCN. Studies about this species are scarce, with most of the few published studies addressing its distribution and population monitoring. While the unique previous study on its diet, reports only six plant species. Based on direct observations of food consumption, we recorded in our study 25 plant species and four animal sources of food.La ardilla de tierra de Perote (Xerospermophilus perotensis) es un roedor microendémico, clasificado como especie en peligro por la Norma Mexicana NOM-059-SEMARNAT-2010 y la UICN. Los estudios sobre esta especie son escasos y la mayoría de los pocos estudios publicados abordan su distribución y monitoreo poblacional. Mientras que el único estudio previo sobre su dieta, informa solo seis especies de plantas. Basadas en observaciones directas del consumo de alimentos, registramos en nuestro estudio 25 especies de plantas y cuatro fuentes de alimentos animales

Genesis of Preeclampsia: An Epidemiological Approach

There are analyzed some of the main aspects related to the causality of preeclampsia, privileging two types of models: the clinic model and the epidemiologic model, first one represented by the hypothesis of the reduced placental perfusion and the second one considering the epidemiologic findings related to the high levels of psychosocial stress and its association with preeclampsia. It is reasoned out the relevance of raising the causality of the disease from an interdisciplinary perspective, integrating the valuable information generated from both types, clinical and epidemiologic, and finally a tentative explanatory model of preeclampsia is proposed, the subclinical and sociocultural aspects that predispose and trigger the disease are emphasized making aspects to stand out: the importance of reduced placental perfusion as an indicator of individual risk, and the high levels of physiological stress, as a result of the unfavorable conditions of the psychosocial surroundings (indicator of population risk) of the pregnant women

La identidad como eje integrador de una marca ciudad

A City Branding can contribute to a metropolis to reposition itself in diverse planes: cultural, social, economic, tourist, among others. Most of the time, these plans have international projection as their function. However, the most important thing should be that they conform from an integrating and intercultural vision, thus constituting a City Branding that really translates the identity with a goal from and for its citizens; That shows the heart of the city, and from this integrating vision, it could then be transferred to different fields and interests. This paper analyzes the contributions of various work teams in which projects are proposed to redesign and position cities for a better life. Establishing the role of design from an integrating perspective, with a transdiciplinary and intercultural role that can be able to enrich the urban environment and the daily life of citizens, at best. And they will also consider how bad decisions and failed implementations of these projects are translated into cities in decomposition and with an identity that is shown disfigured, fragmented and in many cases weak and incongruent with cultural wealth: case of some Latin American countries.Una marca ciudad debe ayudar a una metrópoli a reposicionarse en diversos planos: cultural, social, económico, turístico, entre otros. La mayoría de las veces, estos planos tienen como función la proyección internacional; sin embargo, lo más importante debería conformarse desde una visión integradora e intercultural, constituyéndose así una marca ciudad que realmente traduzca la identidad con un objetivo desde y para sus ciudadanos; que muestre el corazón de la ciudad, y desde esta visión integradora, pueda entonces ser transferida a diversos campos e intereses. En este trabajo se analizan las aportaciones de dos equipos de trabajo en los que se plantearon proyectos para rediseñar y posicionar a las ciudades para una vida mejor. Estableciendo el papel del diseño desde una visión integradora, con un papel transdiciplinar e intercultural que pueda ser capaz de enriquecer, en el mejor de los casos, el entorno urbano y la vida cotidiana de los ciudadanos. Y se considerará cómo las malas decisiones y fallidas implementaciones de estos proyectos se traducen en ciudades en descomposición, sin identidad. Identidad que se muestra desfigurada, fragmentada y algunas veces, débil e incongruente con la riqueza cultural, caso de los países latinoamericanos.Uma Marca da Cidade pode contribuir para uma metrópole se reposicionar em diferentes planos; cultural, social, econômica, turismo, entre outros. Esses planos têm a projeção internacional na maior parte do tempo. No entanto, o mais importante deve ser baseado em uma visão integradora e intercultural, constituindo assim uma Marca da Cidade que realmente traduza a identidade com um objetivo de e para seus cidadãos; Ele mostra o coração da cidade e, a partir dessa visão integrada, pode ser transferido para diferentes campos e interesses. Este artigo analisa as contribuições de várias equipes de trabalho em que os projetos são propostos para redesenhar e posicionar as cidades para uma vida melhor. Estabelecer o papel do design a partir de uma visão integrada com um trasdiciplinar e papel intercultural para ser capaz de enriquecer o ambiente urbano e na vida quotidiana dos cidadãos, na melhor das hipóteses, e considerar como decisões e implementações fracassadas ruim desses projetos são traduzidos em cidades em decomposição, sem identidade. Identidade desfigurada, fragmentada e em muitos casos fraca e incongruente com a riqueza cultural, caso dos países latino-americanos

Tendência da epidemia de casos de aids no Sul do Brasil no período de 1986 a 2008

OBJECTIVE: To describe trends in the incidence of Aids cases according to age and gender from 1986 to 2008. METHODS: Analyses of Aids trends according to age group and to gender was carried out Londrina, Southern Brazil. The timeframe was divided into two periods (1986-1995 and 1996-2008). Of the polynomial models, it was the first-degree polynomial model which best explained the Aids epidemic within the two periods. The incidence rate of Aids among men who have sex with other men (MSM), injecting drug users (IDU), heterosexual men and women was calculated. RESULTS: During the first period, from 1986 to 1995, there was an increase in the incidence of Aids in almost all age groups and the epidemic spread across both sexes (p < 0.001), although this was more marked in men aged 14-39. The second period (1996-2008) did not show a positive or negative statistical increase, indicating that the epidemic had stabilized. A significant fall in the rate for the male 14 to 29 age group was found, with increases of 0.88 and 0.87 for the first and second period respectively. Cases in women aged 50 and over showed a marked increase (p = 0.019). The IDU and MSM groups predominated as the categories with the most exposure, with MSM taking over from IDU in the last three years of the study. From 2000 onwards, incidences in females aged 15 to 49 overtook that of heterosexual men. CONCLUSIONS: The study showed a decrease in incidence in the younger age groups and stabilization in the other age groups. There is a need for different approaches in order to reach groups with several characteristics due to the increase in the proportion of women and MSM within the exposure categories.OBJETIVO: Describir la tendencia de los casos de sida por sexo y grupo etario de 1986 a 2008. MÉTODOS: Se analizó la tendencia de sida por grupo etario y por sexo, en Londrina, PR, Brasil, en dos períodos: 1986-1995 y 1996-2008. Entre los modelos polinomiales, o de primer grado explicó mejor la tendencia de la epidemia de sida en los dos períodos. Se calcularon las tasas de incidencia para hombres que tienen sexo con hombres (HSH), usuarios de drogas inyectables (UDI), hombres heterosexuales y mujeres. RESULTADOS: En el primer período, de 1986 a 1995, hubo incremento de las tasas de incidencia en casi todas los grupos etarios y crecimiento de la epidemia en ambos sexos (p < 0,001), más acentuado en hombres de 14 a 39 años. El segundo período (1996-2008) no presentó incremento estadístico positivo o negativo, indicando estabilización de la epidemia. Se verificó que hubo disminución significativa en el grupo etario de 14 a 29 años en el sexo masculino, con incremento de 0,88 en el primer período y 0,87 en el segundo. Mujeres de 50 años y más presentaron aumento significativo (p = 0,019). Los grupos UDI y HSH predominaron como categorías de exposición y HSH sobrepasó UDI en el último trienio del estudio. A partir del 2000, la tasa de incidencia entre mujeres de 15 a 49 años superó la de los hombres heterosexuales. CONCLUSIONES: Hubo disminución en las tasas de incidencia en los grupos etarios más jóvenes y estabilización en el resto de las edades. El aumento de la proporción de mujeres y del predominio de HSH entre las categorías de exposición resalta la necesidad de estrategias diferenciadas para abarcar grupos con características diversas.OBJETIVO: Descrever a tendência dos casos de aids por sexo e faixa etária de 1986 a 2008. MÉTODOS: Foi analisada a tendência da aids por faixa etária e por sexo, em Londrina, PR, em dois períodos: 1986-1995 e 1996-2008. Dentre os modelos polinomiais, o de primeiro grau explicou melhor a tendência da epidemia da aids nos dois períodos. Foram calculadas as taxas de incidência para homens que fazem sexo com homens (HSH), usuários de drogas injetáveis (UDI), homens heterossexuais e mulheres. RESULTADOS: No primeiro período, de 1986 a 1995, houve incremento das taxas de incidência em quase todas as faixas etárias e crescimento da epidemia em ambos os sexos (p < 0,001), mais acentuado em homens de 14 a 39 anos. O segundo período (1996-2008) não apresentou incremento estatístico positivo ou negativo, indicando estabilização da epidemia. Verificou-se que ocorreu queda significativa na faixa de 14 a 29 anos no sexo masculino, com incremento de 0,88 no primeiro período e 0,87 no segundo. Mulheres de 50 anos e mais apresentaram aumento significativo (p = 0,019). Os grupos UDI e HSH predominaram como categorias de exposição e HSH ultrapassou UDI no último triênio do estudo. A partir de 2000, a taxa de incidência entre mulheres de 15 a 49 anos superou a de homens heterossexuais. CONCLUSÕES: Houve queda nas taxas de incidência nas faixas etárias mais jovens e estabilização nas demais idades. O aumento da proporção de mulheres e do predomínio de HSH entre as categorias de exposição aponta para necessidade de estratégias diferenciadas para atingir grupos com características diversas