How binding are legal limits? Transitions from temporary to permanent work in Spain

This paper studies the duration pattern of xed-term contracts and the determinantsof their conversion into permanent ones in Spain, where the share of xed-termemployment is the highest in Europe. We estimate a duration model for temporaryemployment, with competing risks of terminating into permanent employment versusalternative states, and exible duration dependence. We nd that conversion rates aregenerally below 10%. Our estimated conversion rates roughly increase with tenure,with a pronounced spike at the legal limit, when there is no legal way to retain theworker on a temporary contract. We argue that estimated di¤erences in conversionrates across categories of workers can stem from di¤erences in worker outside optionsand thus the power to credibly threat to quit temporary jobs.

Sovereign risk and secondary markets

Conventional wisdom views the problem of sovereign risk as one of insufficient penalties.Foreign creditors can only be repaid if the government enforces foreign debts. And this will onlyhappen if foreign creditors can effectively use the threat of imposing penalties to the country.Guided by this assessment of the problem, policy prescriptions to reduce sovereign risk havefocused on providing incentives for governments to enforce foreign debts. For instance, countriesmight want to favor increased trade ties and other forms of foreign dependence that make themvulnerable to foreign retaliation thereby increasing the costs of default penalties.

Interbank comptetition with costly screening

We analyse credit market equilibrium when banks screen loan applicants. When banks have a convex cost function of screening, a pure strategy equilibrium exists where banks optimally set interest rates at the same level as their competitors. This result complements Broecker s (1990) analysis, where he demonstrates that no pure strategy equilibrium exists when banks have zero screening costs. In our set up we show that interest rate on loansare largely independent of marginal costs, a feature consistent with the extant empirical evidence. In equilibrium, banks make positive profits in our model in spite of the threat of entry by inactive banks. Moreover, an increase in the number of active banks increases credit risk and so does not improve credit market effciency: this point has important regulatory implications. Finally, we extend our analysis to the case where banks havediffering screening abilities.

Optimal law enforcement and criminal organization

In this paper, we take an organizational view of organized crime. In particular, we study the organizational consequences of product illegality attending at the following characteristics: (i) contracts are not enforceable in court, (ii) all participants are subject to the risk of being punished, (iii) employees present a major threat to the entrepreneur having the most detailed knowledge concerning participation, (iv) separation between ownership and management is difficult because record-keeping and auditing augments criminal evidence.

On the quantitative importance of wage bargaining models

Four general equilibrium search models are compared quantitatively. Thebaseline framework is a calibrated macroeconomic model of the US economydesigned for a welfare analysis of unemployment insurance policy. Theother models make three simple and natural specification changes,regarding tax incidence, monopsony power in wage determination, and therelevant threat point. These specification changes have a major impacton the equilibrium and on the welfare implications of unemploymentinsurance, partly because search externalities magnify the effects ofwage changes. The optimal level of unemployment insurance dependsstrongly on whether raising benefits has a larger impact on searcheffort or on hiring expenditure.

Stakeholder activism, managerial entrenchment and the congruence of interests between shareholders and stakeholders

We argue that when stakeholder protection is left to the voluntaryinitiative of managers, concessions to social activists and pressuregroups can turn into a self-entrenchment strategy for incumbent CEOs.Stakeholders other than shareholders thus benefit from corporategovernance rules putting managers under a tough replacement threat. Weshow that a minimal amount of formal stakeholder protection, or the introduction of explicit covenants protecting stakeholder rights in thefirm charter, may deprive CEOs of the alliance with powerful socialactivists, thus increasing managerial turnover and shareholder value.These results rationalize a recent trend whereby well-known socialactivists like Friends of the Earth and active shareholders likeCalPERS are showing a growing support for each other s agendas.

Kleptoparasitism, disturbance and predation of yellow-legged gulls on Audouin's gulls in three colonies of the western Mediterranean

The impact of yellow-legged gulls on Audouin´s gulls was studied by means of observations from a blind, at the Ebro Delta, the Chafarinas Islands and the Columbretes Islands colonies, during different stages of Audouin´s Gulls breeding cycle. The rates of predation (upon eggs and chicks) and kleptoparasitism (aerial and on courtship and chick-feeding regurgitates) were recorded to evaluate this impact. Kleptoparasitism and predation rates recorded at the three colonies may be considered low when compared with similar studies dealing with other gull species. It seems that interactions did not represent a threat to the population dynamics of Audouin´s Gulls in any of the three colonies. The highest rates of aerial kleptoparasitism, courtship feeding and chick mortality were recorded at the Columbretes Islands, and the lowest at the Ebro Delta. The ratio of the number of yellow-legged gulls to the number of Audouin´s gulls seems to influence the rate of disturbances. Food availability was also likely to play an important role in the number of interactions, which increased when food was in shorter supply. The study at the Ebro Delta and Chafarinas Islands was restricted to some subcolonies and hence results may not be necessarily representative of the entire colonies. The existence of some yellow-legged gull individuals specialised as predators was recorded. Finally, we discuss the suitability of several conservation measures commonly applied in colonies where both species breed syntopically.

Symmetrically multilateral-bargained allocations in multi-sided assignment markets

[cat] Aquest treball tracta d’extendre la noció d’equilibri simètric de negociació bilateral introduït per Rochford (1983) a jocs d’assignació multilateral. Un pagament corresponent a un equilibri simètric de negociación multilateral (SMB) és una imputación del core que garanteix que qualsevol agent es troba en equilibri respecte a un procés de negociación entre tots els agents basat en allò que cadascun d’ells podria rebre -i fer servir com a amenaça- en un ’matching’ òptim diferent al que s’ha format. Es prova que, en el cas de jocs d’assignació multilaterals, el conjunt de SMB és sempre no buit i que, a diferència del cas bilateral, no sempre coincideix amb el kernel (Davis and Maschler, 1965). Finalment, responem una pregunta oberta per Rochford (1982) tot introduïnt un conjunt basat en la idea de kernel, que, conjuntament amb el core, ens permet caracteritzar el conjunt de SMB.

Drug price differentials caused by de-listing and price cap policies

This paper analyses the behaviour of pharmaceutical companies that face the threat of having their drugs excluded from reimbursement and the markets characterised also by price caps. We conclude that price elasticity of demand and cost differentials cause the price discounts which drug firms offer to health care organisations. Additionally, we conclude that price cap regulations affect the time path of prices, resulting in higher prices for new products and lower prices for old products.

Symmetrically multilateral-bargained allocations in multi-sided assignment markets

[cat] Aquest treball tracta d’extendre la noció d’equilibri simètric de negociació bilateral introduït per Rochford (1983) a jocs d’assignació multilateral. Un pagament corresponent a un equilibri simètric de negociación multilateral (SMB) és una imputación del core que garanteix que qualsevol agent es troba en equilibri respecte a un procés de negociación entre tots els agents basat en allò que cadascun d’ells podria rebre -i fer servir com a amenaça- en un ’matching’ òptim diferent al que s’ha format. Es prova que, en el cas de jocs d’assignació multilaterals, el conjunt de SMB és sempre no buit i que, a diferència del cas bilateral, no sempre coincideix amb el kernel (Davis and Maschler, 1965). Finalment, responem una pregunta oberta per Rochford (1982) tot introduïnt un conjunt basat en la idea de kernel, que, conjuntament amb el core, ens permet caracteritzar el conjunt de SMB.

Drug price differentials caused by de-listing and price cap policies

This paper analyses the behaviour of pharmaceutical companies that face the threat of having their drugs excluded from reimbursement and the markets characterised also by price caps. We conclude that price elasticity of demand and cost differentials cause the price discounts which drug firms offer to health care organisations. Additionally, we conclude that price cap regulations affect the time path of prices, resulting in higher prices for new products and lower prices for old products.

Estudi de l'impacte ecotoxicològic de l'insecticida imidacloprid en diferents compartiments ambientals

En les darreres dècades la necessitat d’una major producció en l’agricultura ha implicat l’ús de productes químics per a millorar la producció. Entre aquests productes trobem els insecticides que, tot i ser específics per a determinades funcions, en molts casos acaben afectant també a altres organismes que no en són la diana. Els assajos d’ecotoxicitat són una eina clau per a determinar el grau d’afectació d’aquests insecticides. En aquest estudi es pretén determinar l’efecte de l’aplicació directa en el sòl de les dosis recomanades de l’insecticida Confidor 20SL (amb imidacloprid com a principi actiu) sobre Eisenia fetida i dels lixiviats d’aquests sòls sobre Daphnia magna i Selenastrum capricornutum simulant fenòmens d’escorrentia o lixiviació naturals. En el cas de E.fetida s’obté una LC50 de 24.71 mg/kg sòl i per la reproducció un valor de EC50 de 8.41 mg/kg sòl. S’observa allunyament en totes les dosis utilitzades i la EC50 és de 2.57 mg/kg sòl. No s’han pogut determinar efectes a nivell neurològic a partir de la determinació de l’activitat de l’ AChE. A l’exposar D.magna als lixiviats del sòl contaminat no s’han observat efectes clars ni en la mortalitat ni en la reproducció. El mateix succeeix amb S.capricornutum. Les dosis d’aplicació del pesticida Confidor, representen una amenaça per a E.fetida pel que fa a efectes subletals però no podem dir el mateix per als organismes aquàtics.

Gestión del bosque mediterráneo y conservación de la avifauna: el caso de los alcornocales

Se presentan los resultados de los diversos estudios de poblaciones de aves realizados en los alcornocales catalanes, especialmente en cuanto a la riqueza específica de los mismos. Dado que los estudios publicados hasta el momento en esta materia eran referidos a la estación reproductora (primavera), se señalan los datos recogidos en los alcornocales de les Gavarres (NE peninsular), durante la estación invernal. Asimismo, se analizan las diversas tipologías de alcornocales que se encuentran en Catalunya, bosques en gestión activa, y por tanto sin sotobosque, y bosques abandonados en los que la biomasa del sotobosque es máxi-ma, y se exponen los resultados de la comparativa entre ambas tipologías de explotación cuando se aplica un índice de conservación de la avifauna, basado en la riqueza de cada una de las especies registradas, la presencia de especies amenazadas según los criterios de la UICN (SPEC) y su categoría de amenaza (non-SPEC, SPEC 4, SPEC 3, SPEC 2 y SPEC 1). Los resultados obtenidos muestran como las explotaciones abandonadas tienen un índice de conservación de avifauna más elevado que los bosques en explotación activa. Se discuten es-tos resultados en el contexto de la gestión forestal y las ayudas recibidas por parte de las ad-ministraciones para llevar a cabo estas prácticas de gestión

Patrons de distribució de la flora invasora a la Vall d'Alinyà, evolució de la presència i propostes de gestió des de la perspectiva de l'ecologia aplicada

Tot i que la creixent amenaça de les plantes exòtiques invasores en els espais naturals és un fet evident, aquest problema és gairebé desconegut a la Vall d'Alinyà. Es van estudiar set punts de mostreig associats a quatre tipologies d'hàbitat per esbrinar la distribució de les plantes invasores en la Vall d'Alinyà, així com canvis recents en la seva composició, abundància i en el rang de distribució a partir de fonts bibliogràfiques. Es va desenvolupar un índex per quantificar la problemàtica de les invasions de flora exòtica en els diferents hàbitats estudiats. Els focus d'invasió van resultar estar associats a zones pertorbades, nuclis de població i baixes altituds. El canvi climàtic i els canvis en els usos del sòl podrien estar jugant un paper essencial en l'aparició de noves plantes invasores i en l'increment tant de l'abundància com de la cota altitudinal dels nivells més grans d'invasió. Tot i que la problemàtica associada a les plantes invasores en la Vall d'Alinyà és generalment baixa, algunes espècies com Senecio inaequidens representen una amenaça per a l'espai, motiu pel qual es proposa un pla de gestió per a la flora invasora.

Drift and ownership toward a distant virtual body.

In body ownership illusions participants feel that a mannequin or virtual body (VB) is their own. Earlier results suggest that body ownership over a body seen from behind in extra personal space is possible when the surrogate body is visually stroked and tapped on its back, while spatially and temporal synchronous tactile stimulation is applied to the participant's back. This result has been disputed with the claim that the results can be explained by self-recognition rather than somatic body ownership. We carried out an experiment with 30 participants in a between-groups design. They all saw the back of a VB 1.2 m in front, that moved in real-time determined by upper body motion capture. All felt tactile stimulation on their back, and for 15 of them this was spatially and temporally synchronous with stimulation that they saw on the back of the VB, but asynchronous for the other 15. After 3 min a revolving fan above the VB descended and stopped at the position of the VB neck. A questionnaire assessed referral of touch to the VB, body ownership, the illusion of drifting forwards toward the VB, and the VB drifting backwards. Heart rate deceleration (HRD) and the amount of head movement during the threat period were used to assess the response to the threat from the fan. Results showed that although referral of touch was significantly greater in the synchronous condition than the asynchronous, there were no other differences between the conditions. However, a further multivariate analysis revealed that in the visuotactile synchronous condition HRD and head movement increased with the illusion of forward drift and decreased with backwards drift. Body ownership contributed positively to these drift sensations. Our conclusion is that the setup results in a contradiction-somatic feelings associated with a distant body-that the brain attempts to resolve by generating drift illusions that would make the two bodies coincide.