“ESTRATEGIA DE COBERTURA CONTRA LA VOLATILIDAD DE LOS PRECIOS INTERNACIONALES DE LA MEZCLA MEXICANA DE PETRÓLEO Y SU IMPACTO EN LOS INGRESOS DE LA FEDERACIÓN. PERIODO 2015 – 2016”

El precio internacional del petróleo siempre ha sido un tema central en la economía mundial. Su expectativa de precio futuro es tan importante, que define el presupuesto anual de muchas naciones, aunado a que el precio del petróleo es difícil de pronosticar. Respecto a la mezcla mexicana, en los últimos meses ha tenido bajas significativas y la volatilidad que presenta aumenta el riesgo de no recibir los ingresos esperados por su exportación; por esto, la presente investigación tiene como objetivo proponer una estrategia que consiste en implementar una cobertura financiera contra el riesgo de volatilidad de los precios internacionales de la mezcla mexicana de petróleo; y a su vez, poder mitigar el impacto económico adverso que provocaría en el Presupuesto de Ingresos de la Federación; de tal modo que no afecte los ingresos nacionales, debido a que una tercera parte del presupuesto federal depende del petróleo. Por lo tanto, esta investigación busca implementar una estrategia de cobertura financiera que proteja el precio del petróleo (y consecuentemente, los ingresos que se perciben por su venta); ya que en los últimos meses se ha experimentado una baja significativa y la volatilidad que presenta dicho evento implica un gran riesgo para los ingresos de la Federación. La estrategia propuesta será adquiriendo contratos de Opciones de venta tipo Put1 que funcionarán como una cobertura y actuarán como un seguro para afianzar el precio internacional de la mezcla mexicana; “blindando” el ingreso por concepto de 1 Las Opciones de venta tipo Put son contratos financieros sobre activos subyacentes que explicaremos en el Capítulo II: Marco conceptual o teórico. Antecedentes para comprender la importancia del petróleo para las Finanzas Públicas en México 5 la venta del barril de petróleo en caso de volatilidad futura - una baja o un aumento en el precio - dicha cobertura protegerá los ingresos de la Federación y evitará poner en riesgo las finanzas públicas.Oil prices have fallen impressively to levels never seen before, that is why this investigation has to do with an oil prices hedging strategy for the 2015-2016 period, by dealing with “Put” selling options as a mean of insurance against volatility of Mexican oil mix barrel international price, in order to protect income of the Federation, avoiding putting at stake public finances. The aim of this work is to make a presentation of the hedging strategy without excessive mathematical formalism, but with enough analysis for a decision-making process, in an scenario of volatility of the oil prices; a valuation model of financial derivatives is applied on the basis of Black-Scholes-Merton formula, and getting some conclusions from this strategy

Reducing the environmental impact of surgery on a global scale: systematic review and co-prioritization with healthcare workers in 132 countries

Abstract Background Healthcare cannot achieve net-zero carbon without addressing operating theatres. The aim of this study was to prioritize feasible interventions to reduce the environmental impact of operating theatres. Methods This study adopted a four-phase Delphi consensus co-prioritization methodology. In phase 1, a systematic review of published interventions and global consultation of perioperative healthcare professionals were used to longlist interventions. In phase 2, iterative thematic analysis consolidated comparable interventions into a shortlist. In phase 3, the shortlist was co-prioritized based on patient and clinician views on acceptability, feasibility, and safety. In phase 4, ranked lists of interventions were presented by their relevance to high-income countries and low–middle-income countries. Results In phase 1, 43 interventions were identified, which had low uptake in practice according to 3042 professionals globally. In phase 2, a shortlist of 15 intervention domains was generated. In phase 3, interventions were deemed acceptable for more than 90 per cent of patients except for reducing general anaesthesia (84 per cent) and re-sterilization of ‘single-use’ consumables (86 per cent). In phase 4, the top three shortlisted interventions for high-income countries were: introducing recycling; reducing use of anaesthetic gases; and appropriate clinical waste processing. In phase 4, the top three shortlisted interventions for low–middle-income countries were: introducing reusable surgical devices; reducing use of consumables; and reducing the use of general anaesthesia. Conclusion This is a step toward environmentally sustainable operating environments with actionable interventions applicable to both high– and low–middle–income countries

“ESTRATEGIA DE COBERTURA CONTRA LA VOLATILIDAD DE LOS PRECIOS INTERNACIONALES DE LA MEZCLA MEXICANA DE PETRÓLEO Y SU IMPACTO EN LOS INGRESOS DE LA FEDERACIÓN. PERIODO 2015 – 2016”

El precio internacional del petróleo siempre ha sido un tema central en la economía mundial. Su expectativa de precio futuro es tan importante, que define el presupuesto anual de muchas naciones, aunado a que el precio del petróleo es difícil de pronosticar. Respecto a la mezcla mexicana, en los últimos meses ha tenido bajas significativas y la volatilidad que presenta aumenta el riesgo de no recibir los ingresos esperados por su exportación; por esto, la presente investigación tiene como objetivo proponer una estrategia que consiste en implementar una cobertura financiera contra el riesgo de volatilidad de los precios internacionales de la mezcla mexicana de petróleo; y a su vez, poder mitigar el impacto económico adverso que provocaría en el Presupuesto de Ingresos de la Federación; de tal modo que no afecte los ingresos nacionales, debido a que una tercera parte del presupuesto federal depende del petróleo. Por lo tanto, esta investigación busca implementar una estrategia de cobertura financiera que proteja el precio del petróleo (y consecuentemente, los ingresos que se perciben por su venta); ya que en los últimos meses se ha experimentado una baja significativa y la volatilidad que presenta dicho evento implica un gran riesgo para los ingresos de la Federación. La estrategia propuesta será adquiriendo contratos de Opciones de venta tipo Put1 que funcionarán como una cobertura y actuarán como un seguro para afianzar el precio internacional de la mezcla mexicana; “blindando” el ingreso por concepto de 1 Las Opciones de venta tipo Put son contratos financieros sobre activos subyacentes que explicaremos en el Capítulo II: Marco conceptual o teórico. Antecedentes para comprender la importancia del petróleo para las Finanzas Públicas en México 5 la venta del barril de petróleo en caso de volatilidad futura - una baja o un aumento en el precio - dicha cobertura protegerá los ingresos de la Federación y evitará poner en riesgo las finanzas públicas.Oil prices have fallen impressively to levels never seen before, that is why this investigation has to do with an oil prices hedging strategy for the 2015-2016 period, by dealing with “Put” selling options as a mean of insurance against volatility of Mexican oil mix barrel international price, in order to protect income of the Federation, avoiding putting at stake public finances. The aim of this work is to make a presentation of the hedging strategy without excessive mathematical formalism, but with enough analysis for a decision-making process, in an scenario of volatility of the oil prices; a valuation model of financial derivatives is applied on the basis of Black-Scholes-Merton formula, and getting some conclusions from this strategy

Worldwide Disparities in Recovery of Cardiac Testing 1 Year Into COVID-19

BACKGROUND The extent to which health care systems have adapted to the COVID-19 pandemic to provide necessary cardiac diagnostic services is unknown.OBJECTIVES The aim of this study was to determine the impact of the pandemic on cardiac testing practices, volumes and types of diagnostic services, and perceived psychological stress to health care providers worldwide.METHODS The International Atomic Energy Agency conducted a worldwide survey assessing alterations from baseline in cardiovascular diagnostic care at the pandemic's onset and 1 year later. Multivariable regression was used to determine factors associated with procedure volume recovery.RESULTS Surveys were submitted from 669 centers in 107 countries. Worldwide reduction in cardiac procedure volumes of 64% from March 2019 to April 2020 recovered by April 2021 in high- and upper middle-income countries (recovery rates of 108% and 99%) but remained depressed in lower middle- and low-income countries (46% and 30% recovery). Although stress testing was used 12% less frequently in 2021 than in 2019, coronary computed tomographic angiography was used 14% more, a trend also seen for other advanced cardiac imaging modalities (positron emission tomography and magnetic resonance; 22%-25% increases). Pandemic-related psychological stress was estimated to have affected nearly 40% of staff, impacting patient care at 78% of sites. In multivariable regression, only lower-income status and physicians' psychological stress were significant in predicting recovery of cardiac testing.CONCLUSIONS Cardiac diagnostic testing has yet to recover to prepandemic levels in lower-income countries. Worldwide, the decrease in standard stress testing is offset by greater use of advanced cardiac imaging modalities. Pandemic-related psychological stress among providers is widespread and associated with poor recovery of cardiac testing. (C) 2022 The Authors. Published by Elsevier on behalf of the American College of Cardiology Foundation

The risk of COVID-19 death is much greater and age dependent with type I IFN autoantibodies

International audienceSignificance There is growing evidence that preexisting autoantibodies neutralizing type I interferons (IFNs) are strong determinants of life-threatening COVID-19 pneumonia. It is important to estimate their quantitative impact on COVID-19 mortality upon SARS-CoV-2 infection, by age and sex, as both the prevalence of these autoantibodies and the risk of COVID-19 death increase with age and are higher in men. Using an unvaccinated sample of 1,261 deceased patients and 34,159 individuals from the general population, we found that autoantibodies against type I IFNs strongly increased the SARS-CoV-2 infection fatality rate at all ages, in both men and women. Autoantibodies against type I IFNs are strong and common predictors of life-threatening COVID-19. Testing for these autoantibodies should be considered in the general population

The risk of COVID-19 death is much greater and age dependent with type I IFN autoantibodies

International audienceSignificance There is growing evidence that preexisting autoantibodies neutralizing type I interferons (IFNs) are strong determinants of life-threatening COVID-19 pneumonia. It is important to estimate their quantitative impact on COVID-19 mortality upon SARS-CoV-2 infection, by age and sex, as both the prevalence of these autoantibodies and the risk of COVID-19 death increase with age and are higher in men. Using an unvaccinated sample of 1,261 deceased patients and 34,159 individuals from the general population, we found that autoantibodies against type I IFNs strongly increased the SARS-CoV-2 infection fatality rate at all ages, in both men and women. Autoantibodies against type I IFNs are strong and common predictors of life-threatening COVID-19. Testing for these autoantibodies should be considered in the general population