Social Security, Education, Retirement and Growth

In this paper we analyze the effects of social security policies in an unfunded, earnings-related social security system on the incentives to education investment and voluntary retirement, on growth and on income inequality. Growth is endogenously driven by human capital investment, individuals differ in their innate (learning) ability at birth, and the pension scheme includes a minimum pension. More skilled individuals spend more on education, minimum pensions reduce low skill individuals' incentives to invest in human capital, there is no monotonic relationship between per capita growth and income inequality.

Life Expectancy, Human Capital, Social Security and Growth

Revised: 2006-11.-- Published as an article in: Journal of Public Economics 90(12), December, 2006, pp. 2323-2349.

Multirating decision model validation: the relevance of the quality of the securitization issues

Rating enables the information asymmetry existing in the issuer-investor relationship to be reduced, particularly for issues with a high degree of complexity, as is the case of securitizations. However, there may be a serious conflict of interest between the issuer’s choice and remuneration of the agency and the credit rating awarded, resulting in lower quality and information power of the published rating. In this paper, we propose an explicative model of the number of ratings requested, by analyzing the relevance of the number of ratings to measure the reliability, where multirating is shown to be associated to the quality, size, liquidity and the degree of information asymmetry relating to the issue. Thus, we consider that the regulatory changes that foster the widespread publication of simultaneous ratings could help to alleviate the problem of rating model arbitrage and the crisis of confidence in credit ratings in general and in the securitization issues, in particular.

Effects of international trade of food and feed and human diet shifts on food security and environmental safety: integrating scales

4 p.

The adoption of ecosystem-based adaptation in the international climate agenda

4 p.

Desarrollo sostenible y Agenda 21 Local

Resumen (ESPAÑOL) En el presente trabajo se ha tratado de analizar la evolución, tanto del concepto de Desarrollo Sostenible, como de la herramienta Agenda 21 Local, verificando la creciente preocupación que se está extendiendo en la ciudadanía, en las instituciones y en las empresas, así como la irreversibilidad de la mayoría de los resultados alcanzados. En este marco, se han estudiado los casos concretos de la implantación de la Agenda 21 Local en Europa, España, Euskadi y Getxo, por ser este último el municipio en el que resido. Con este estudio, se confirma la hipótesis de que, aunque en la implantación de la Agenda 21 Local se aprecia un esfuerzo realizado notable, queda todavía mucho camino por recorrer en la senda hacia la sostenibilidad.

Feminist agenda. Euskal narratiba garaikidean

I. Sarrera: 1. Ikerketaren helburua. 2. Aurrekariak. 3. Corpusaren justifikazioa. 4. Ikerlanaren marko teoriko-metodologikoa eta eleberriek lantzen dituzten ardatz tematikoak. 5. Ikerlanaren atalak. II. Memoria eta modus autobiografikoa: 1. Sarrera. 2. Memoria ardatz tematiko, eta modus autobiografikoa kontamolde. 3. Landuko den corpusa eta haren justifikazioa. 4. Espazio femeninoaren sorkuntza idazketan izaten den joera autobiografikoa. 5. Kapitulu honetan aztertu diren nobelen ezaugarriak. 6. Pertsonaien aurkezpena (krisialditik jaiotako pertsonaiak). 7. Ondorioak. III. Genero indarkeria: 1. Sarrera. 2. Kapitulu honetan landuko diren nobelak. 3. Indarkeria ikuspegi soziologikotik. 4. Narratologiatik pertsonaiak aztertzen. 5. Indarkeria sinbolikoaren neurketa semantikoa. 6. Ondorioak. IV. Amatasunaren inguruko diskurtsoak: 1. Sarrera. 2. Amatasunaren inguruko datu soziologikoak. 3. Landuko diren nobelak. 4. Corpuseko eleberriak: amatasunaren kontrako jarrerak. 5. Amatasunaren aldeko aldarria egiten duten corpuseko eleberriak. 6. Emakumeen arteko genealogiak eta ama-alaben arteko harremanak. 7. Ondorioak. V. Ondorio orokorrak: 1. Pertsonaia protagonista femeninoen bilakaera. 2. Emakume berria. 3. Pertsonaia berri horren eraikuntza. VI. Bibliografia.

Does rating shopping exist in spanish securitization issues?

[EN] Debt issue credit ratings can lead to conflicts of interest as the issuer itself is entrusted with contracting and compensating the rating agency. Into the bargain, the credit rating agency may be involved in designing the issues that the same agency subsequently rates. Credit rating agencies thus could have incentives to rate issues advantageously. Given the economic importance of this issue, in this paper we have proposed to analyze this phenomenon, known as rating shopping in academic literature, for Spanish market securitization issues for the period of time comprehensive from January 1993 to December 2011. In sum 3,665 published ratings are been analysed, for an issued nominal amount of 791,090 million Euros. The results show an association between the credit rating agency contracted and the mean rating awarded. Significant differences are observed in the ratings associated to the contracting manager (or special purpose vehicle SPV- manager firm), to the number of ratings or to the type of collateral. Furthermore, a pattern compatible with rating shopping was observed for some types of collateral: abnormally high market shares associated with certain agencies awarding unusually generous ratings. However, this phenomenon is not seen to be widespread on the rating market associated to Spanish securitization issues.

Baldugenda: desarrollo evolutivo de una aplicación de gestión de agenda universitaria para Android

En este Proyecto de Fin de Grado se ha realizado el diseño y la implementación de la aplicación Baldugenda. El objetivo que tiene Baldugenda es juntar la agenda universitaria física con los teléfonos móviles y los servicios de Google, para que los alumnos puedan llevar al día los exámenes y sus notas mediante la aplicación. El desarrollo se ha realizado en un marco de integración y colaboración directa de los usuarios en el proyecto, partiendo de un producto mínimo viable inicial e integrando el feedback en la progresiva ampliación de las características del servicio.El sistema se basa en una aplicación nativa para Android conectada con los servicios web de Google Calendar y Google Drive. En implementación se han utilizado tecnologías emergentes, todas de código abierto: Sqlite para el almacenamiento de datos, y como cliente una aplicación Android nativa.