Growth in an oil abundant economy: The case of Venezuela

This paper has been presented at DEGIT-X held in México 2005.-- Revised: 2008-08.

Income Taxation and Growth in an OLG Economy: Does Aggregate Uncertainty Play any Role?

We analyze the effects of capital income taxation on long-run growth in a stochastic, two-period overlapping generations economy. Endogenous growth is driven by a positive externality of physical capital in the production sector that makes firms exhibit an aggregate technology in equilibrium. We distinguish between capital income and labor income, and between attitudes towards risk and intertemporal substitution of consumption. We show necessary and sufficient conditions such that i) increments in the capital income taxation lead to higher equilibrium growth rates, and ii) the effect of changes in the capital income tax rate on the equilibrium growth may be of opposite signs in stochastic and in deterministic economies. Such a sign reversal is shown to be more likely depending on i) how the intertemporal elasticity of substitution compares to one, and ii) the size of second- period labor supply. Numerical simulations show that for reasonable values of the intertemporal elasticity of substitution, a sign reversal shows up only for implausibly high values of the second- period’s labor supply. The conclusion is that deterministic OLG economies are a good approximation of the effect of taxes on the equilibrium growth rate as in Smith (1996).

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.

La internacionalización de la empresa manufacturera española: Efectos del capital humano genérico y específico

[ES] La eficiencia y capacidad competitiva de las organizaciones depende —además de otros factores— de la calidad del capital humano de que disponen. Así, el objetivo de este trabajo es analizar el efecto del capital humano de la empresa tanto en la decisión de entrar en los mercados internacionales como en la intensidad de ventas realizadas en dichos mercados utilizando modelos de regresión logit y tobit. El trabajo empírico se realiza sobre una muestra de empresas manufactureras españolas. El capital humano se evalúa desde una doble óptica, por un lado se considera la formación genérica de los empleados y por otro lado la formación específica de los mismos. Los resultados muestran que la formación genérica y la específica tienen un efecto positivo y significativo tanto sobre la decisión de entrar en los mercados internacionales como en la intensidad de ventas realizadas en dichos mercados.

Demanda de información sobre capital intelectual en las Universidades públicas españolas

[ES] En el actual contexto de la Sociedad del Conocimiento las instituciones de educación superior deben prestar una atención preferente a las nuevas demandas informativas de sus stakeholders. El objetivo de este trabajo será evidenciar la necesidad de que las universidades incorporen información sobre capital intelectual en su actual sistema de información contable.

Unlike Physical Exercise, Modified Environment Increases the Lifespan of SOD1(G93A) Mice However Both Conditions Induce Cellular Changes

8 p.

Objectively Measured Physical Activity and Sedentary Time during Childhood, Adolescence and Young Adulthood: A Cohort Study

Background: To know how moderate-to-vigorous physical activity (MVPA) and sedentary time change across lifespan periods is needed for designing successful lifestyle interventions. We aimed to study changes in objectively measured (accelerometry) MVPA and sedentary time from childhood to adolescence and from adolescence to young adulthood. Methods: Estonian and Swedish participants from the European Youth Heart Study aged 9 and 15 years at baseline (N = 2312) were asked to participate in a second examination 6 (Sweden) to 9/10 (Estonia) years later. 1800 participants with valid accelerometer data were analyzed. Results: MVPA decreased from childhood to adolescence (21 to 22.5 min/d per year of follow-up, P = 0.01 and ,0.001, for girls and boys respectively) and also from adolescence to young adulthood (20.8 to 22.2 min/d per year, P = 0.02 and ,0.001 for girls and boys, respectively). Sedentary time increased from childhood to adolescence (+15 and +20 min/d per year, for girls and boys respectively, P,0.001), with no substantial change from adolescence to young adulthood. Changes in both MVPA and sedentary time were greater in Swedish than in Estonian participants and in boys than in girls. The magnitude of the change observed in sedentary time was 3–6 time larger than the change observed in MVPA. Conclusions: The decline in MVPA (overall change = 30 min/d) and increase sedentary time (overall change = 2:45 h/d)observed from childhood to adolescence are of concern and might increase the risk of developing obesity and other chronic diseases later in life. These findings substantially contribute to understand how key health-related behaviors (physical activity and sedentary) change across important periods of life.

Medición de capital intelectual en empresas asiáticas: el caso de Reliance Industries Ltd. (India)

El objetivo de este trabajo es presentar un marco conceptual integrador de la literatura de capital intelectual. A partir de él, se analizará la elaboración de informes de capital intelectual en Asia, en particular, es una empresa con una posición competitiva privilegiada en India: Reliance Industries LTD.

Increased physical activity is not enough to recover astrocytic population from dark-rearing. Synergy with multisensory enrichment is required

10 p.

Sormena bost urtko gelan. Musika, mugimendua eta jolasa.

Ez da arraroa, egungo eskolan, nolabaiteko aukera eza aurkitzea Haur Hezkuntzako haurraren sormena garatzeko. Aukera eza honi erantzuna emateko asmoz sortu da proiektu hau. Hiru bitarteko nagusi uztartzea proposatzen da: alde batetik, musika, sormenaren garapenerako aukera anitz eskaintzen dituelako; bestetik, mugimendua, haurraren garapenen fisiko eta kognitiboan berebiziko garrantzia duen funtzioa; eta, azkenik, jolasa elementu integratzaile bezala, gizakiok haurtzaroan dugun oinarrizko jarduera. Ondoren proposatzen diren jolasak zehazki sortuak, aukeratuak eta moldatuak izan dira sormena era ludikoan garatzeko. Barakaldoko Alkartu Ikastola Publikoan praktikan jarri eta gero, esan dezakegu haurrek ia mugarik gabeko sormena garatu dezaketela, irakasleak bitarteko egokiak eskura jartzen badizkie.

Breaking the 400 ppm barrier: Physical and Social implications of the recent CO2 rise

6 p.

El Venture capital como fuente de financiación del proceso emprendedor

En los últimos años la financiación de empresas de nueva creación se ha convertido en uno de los principales obstáculos para los emprendedores a la hora de poner en marcha sus ideas de negocio. La difícil situación económico-financiera actual y las características particulares de estas empresas hacen que la financiación bancaria sea una alternativa más bien inviable. Este trabajo pretende explorar otras fuentes de financiación alternativas a la bancaria que se puedan ajustar más a las características de las empresas de reciente creación y, más en concreto, estudiar el papel que ha jugado y juega el venture capital como fuente de financiación, analizando aspectos teóricos del mismo y su evolución en los últimos años para, posteriormente, desarrollar un estudio empírico que analice las características y resultados obtenidos por las empresas financiadas por venture capital en España en los últimos años.

Structural capital, innovation capability, and company performance in technology-based colombian firms

[EN] In today s economy, innovation is considered to be one of the main driving forces behind business competitiveness, if not the most relevant one. Traditionally, the study of innovation has been addressed from different perspectives. Recently, literature on knowledge management and intellectual capital has provided new insights. Considering this, the aim of this paper is to analyze the impact of different organizational conditions i.e. structural capital on innovation capability and innovation performance, from an intellectual capital (IC) perspective. As regards innovation capability, two dimensions are considered: new idea generation and innovation project management. The population subject to study is made up of technology-based Colombian firms. In order to gather information about the relevant variables involved in the research, a questionnaire was designed and addressed to the CEOs of the companies making up the target population. The sample analyzed is made up of 69 companies and is large enough to carry out a statistical study based on structural equation modelling (partial least squares approach) using PLS-Graph software (Chin and Frye, 2003). The results obtained show that structural capital explains to a great extent both the effectiveness of the new idea generation process and of innovation project management. However, the influence of each specific organizational component making up structural capital (organizational design, organizational culture, hiring and professional development policies, innovation strategy, technological capital, and external structure) varies. Moreover, successful innovation project management is the only innovation capability dimension that exerts a significant impact on company performance.

El capital social de las minorías religiosas en el País Vasco

328 p.

In Vitro Surfactant and Perfluorocarbon Aerosol Deposition in a Neonatal Physical Model of the Upper Conducting Airways

Objective: Aerosol delivery holds potential to release surfactant or perfluorocarbon (PFC) to the lungs of neonates with respiratory distress syndrome with minimal airway manipulation. Nevertheless, lung deposition in neonates tends to be very low due to extremely low lung volumes, narrow airways and high respiratory rates. In the present study, the feasibility of enhancing lung deposition by intracorporeal delivery of aerosols was investigated using a physical model of neonatal conducting airways. Methods: The main characteristics of the surfactant and PFC aerosols produced by a nebulization system, including the distal air pressure and air flow rate, liquid flow rate and mass median aerodynamic diameter (MMAD), were measured at different driving pressures (4-7 bar). Then, a three-dimensional model of the upper conducting airways of a neonate was manufactured by rapid prototyping and a deposition study was conducted. Results: The nebulization system produced relatively large amounts of aerosol ranging between 0.3 +/- 0.0 ml/min for surfactant at a driving pressure of 4 bar, and 2.0 +/- 0.1 ml/min for distilled water (H(2)Od) at 6 bar, with MMADs between 2.61 +/- 0.1 mu m for PFD at 7 bar and 10.18 +/- 0.4 mu m for FC-75 at 6 bar. The deposition study showed that for surfactant and H(2)Od aerosols, the highest percentage of the aerosolized mass (similar to 65%) was collected beyond the third generation of branching in the airway model. The use of this delivery system in combination with continuous positive airway pressure set at 5 cmH(2)O only increased total airway pressure by 1.59 cmH(2)O at the highest driving pressure (7 bar). Conclusion: This aerosol generating system has the potential to deliver relatively large amounts of surfactant and PFC beyond the third generation of branching in a neonatal airway model with minimal alteration of pre-set respiratory support.