Fiscal sustainability across government tiers

This paper analyses how fiscal adjustment comes about when both central and sub-national governments are involved in consolidation. We test sustainability of public debt with a fiscal rule for both the federal and regional government. Results for the German Länder show that lower tier governments bear a relatively smaller part of the burden of debt consolidation, if they consolidate at all. Most of the fiscal adjustment occurs via central government debt. In contrast, both the US federal and state levels contribute to consolidation of public finances.

Estudio, análisis y mejora de un sistema de gestión de expedientes

El proyecto consistió en el estudio, propuesta y realización de una serie de mejoras derivadas del análisis de un sistema de gestión de expedientes. El sistema analizado es SEDAS, un producto de gestión de los procesos de recobro de deudas desarrollado por Steria. Las mejoras se concentraron en la parametrización y mejora de diversos apartados tales como el modelo de datos, el sistema de generación de informes o la interfaz gráfica.

Small firms, growth and financial constraints

This paper analyses the impact of different sources of finance on the growth of firms. Using panel data from Spanish manufacturing firms for the period 2000-2006, we investigate the effects of internal and external finances on firm growth. In particular, we examine three dimensions of these financial sources: a) the performance of the firms’ capital structure in accordance with firm size; b) the effects of internal and external financial sources on growth performance; c) the combined effect of equity, external debt and cash flow on firm growth. We find that low-growth firms are sensitive to cash flow and short-term bank debt, while high-growth firms are more sensitive to long-term debt. Furthermore, equity capital seems to reduce barriers to external finance. Our main conclusion is that during the start-up phase, firms are unable to increase their financial leverage and so their capital structure fails to promote correct investment strategies. However, as their equity capital increases, alternative financial mechanisms, in particular long-term debt, become available, which have a positive impact on firm growth.

The Global Diffusion of Regulatory Agencies: Channels of Transfer and Stages of Diffusion

The autonomous regulatory agency has recently become the ‘appropriate model’ of governance across countries and sectors. The dynamics of this process is captured in our data set, which covers the creation of agencies in 48 countries and 16 sectors since the 1920s. Adopting a diffusion approach to explain this broad process of institutional change, we explore the role of countries and sectors as sources of institutional transfer at different stages of the diffusion process. We demonstrate how the restructuring of national bureaucracies unfolds via four different channels of institutional transfer. Our results challenge theoretical approaches that overemphasize the national dimension in global diffusion and are insensitive to the stages of the diffusion process. Further advance in study of diffusion depends, we assert, on the ability to apply both cross-sectoral and cross-national analysis to the same research design and to incorporate channels of transfer with different causal mechanisms for different stages of the diffusion process.

Like milk or wine: Does firm performance improve with age?

Our empirical literature review shows that little is known about how firm performance changes with age, presumably because of the paucity of data on firm age. For Spanish manufacturing firms, we analyse the firm performance related to firm age between 1998 and 2006. We find evidence that firms improve with age, because ageing firms are observed to have steadily increasing levels of productivity, higher profits, larger size, lower debt ratios, and higher equity ratios. Furthermore, older firms are better able to convert sales growth into subsequent growth of profits and productivity. On the other hand, we also found evidence that firm performance deteriorates with age. Older firms have lower expected growth rates of sales, profits and productivity, they have lower profitability levels (when other variables such as size are controlled for), and also that they appear to be less capable to convert employment growth into growth of sales, profits and productivity.

New trends in world wine consumption and its impact on the Spanish wineries during the second half of the twentieth century

The main goal of this research is explain the impact of the new trends of wine consumption, and the way these enterprises adapted to the circumstances. The hypothesis is that the Spanish companies had to start a deep and traumatic restructuring process, with the aim of surviving adequately in the changeable wine national and international markets. Heavy technological investments were made, with serious finance problems, during the eighties and nineties. We will see this from two specific cases, the Cooperatives "San Isidro" and "Rosario", located in the Region of Murcia, in the Spanish southeast.

Are small firms more sensitive to financial variables?

This paper analyses the impact of different sources of finance on the growth of firms. sing panel data from Spanish manufacturing firms for the period 2000-2006, we investigate the effects of internal and external finances on firm growth. In particular, we examine wo dimensions of these financial sources: a) the performance of the firms' capital structure n accordance with firm size; b) the combined effect of equity, external debt and cash low n firm growth. We find that low-growth firms are sensitive to cash low and short-term ank debt, while high-growth firms are more sensitive to long-term debt. Furthermore, ur results show that low-growth firms are more sensitive to short-term financial variables, hile fast growth firms are more sensitive to long-term financial variables. EL codes: L25, R12. eywords: Finance, Firm growth, Quantile regressions, Small firms

Like milk or wine: Does firm performance improve with age?

Our empirical literature review shows that little is known about how firm performance changes with age, presumably because of the paucity of data on firm age. For Spanish manufacturing firms, we analyse the firm performance related to firm age between 1998 and 2006. We find evidence that firms improve with age, because ageing firms are observed to have steadily increasing levels of productivity, higher profits, larger size, lower debt ratios, and higher equity ratios. Furthermore, older firms are better able to convert sales growth into subsequent growth of profits and productivity. On the other hand, we also found evidence that firm performance deteriorates with age. Older firms have lower expected growth rates of sales, profits and productivity, they have lower profitability levels (when other variables such as size are controlled for), and also that they appear to be less capable to convert employment growth into growth of sales, profits and productivity. Keywords: firm age, firm growth, LAD, financial structure, vector autoregression JEL CODES: L25, L20

Environmental Regulations in the Hog Farming Sector: A Comparison of Catalonia, Spain and Manitoba, Canada

This article examines the governance structures for managing the location and operation of Intensive Livestock Farming Operations (ILFOs). The article focuses on the hog sector and compares two very different jurisdictions: the Province of Manitoba, Canada and the Autonomous Community of Catalonia, Spain. Both are regions that have witnessed recent increases in hog production, including increasing spatial concentration of ILFOs and increasing size of those ILFOs. Policy has both fostered and sought to manage the increased production. Following a brief background description of restructuring, the changing legislative framework for Manitoba and Catalonia are described. Keywords: environmental regulations, hog farms, manure management, animal feeding operations. JEL: Q15, Q58, R52, O57

Anàlisi i proposta de renovació de la web dels Estudis d'Humanitats i Filologia de la UOC

Aquest treball té com a finalitat, d'una banda, col·laborar a determinar les mancances, tant de disseny com de contingut, que té actualment el web dels Estudis d'Humanitats i Filologia de la UOC i, de l'altra, fer una proposta d'un nou disseny, que inclogui la reestructuració dels continguts.

Projecte UD-WIFI

La Universitat de Deusto al seu campus de San Sebastià pretén amb aquest projecte gestionar centralitzadament els espais amb cobertura WIFI corresponents a ubicacions concretes i localitzades. Per a això s'acollirà al programa 'Accés a Internet i mobilitat amb WI-FI' promogut per la SPRI (Societat per a la Promoció i Reconversió Industrial), que ofereix subvencions per a la instal·lació de xarxes sense fil amb tecnologia WI-FI ubicades dins de la Comunitat Autònoma de País Basc.

Els referents clàssics en l'obra de Maria Àngels Anglada : Una lectura de Sandàlies d'escuma

Maria Àngels Anglada s'inscriu en la tradició d'una mena d'escriptors que segueixen i forgen tradició literària. En aquest sentit, la seva obra és deutora de la cultura grega segons els paràmetres de la poètica de la mimesi. Aquest fet és prou evident en la novel·la

Características clínicas y tratamiento de la ansiedad académica y ante los exámenes como fobia específica de tipo situacional

L'ansietat acadèmica i davant els exàmens com a fòbia específica de tipus situacional és un trastorn infantil i juvenil d'efectes pertorbadors i negatius que repercuteixen sobre la salut mental i emocional, el rendiment acadèmic i la integració social de l'estudiant que la pateix. En aquest treball s'especifiquen les seves característiques clíniques. Així mateix, s'inclou un cas clínic d'un adolescent de 14 anys que patia d'aquest trastorn fòbic escolar, acompanyat de baixa autoestima personal i dificultats d'adaptació amb el seu grup-classe. Se li va aplicar una avaluació i tractament de tall cognitiu-conductual que ha tingut com a finalitat la superació de la fòbia, i la millora del seu rendiment acadèmic i social. D'entre totes les eines terapèutiques utilitzades destaquen: l'exposició en viu, i l'aprenentatge i utilització de mecanismes de control de l'ansietat (la relaxació Jacobson i la reestructuració cognitiva). Finalment, assenyalar que aquesta intervenció terapèutica ha estat possible gràcies a la participació coordinada i cooperant de l'equip interdisciplinari.

Aplicación de un estudio de usabilidad en bibliotecas digitales : la Biblioteca Virtual de la UOC

The Open University of Catalonia (UOC) has conducted a study of operability of its user interfaces, creating for this purpose different work groups that have analyzed different casuistries. One of these groups focused on the study and analysis of the usability of the Virtual Library's website, with the objective of obtaining benefits for our users. As a result of this analysis, an important qualitative jump is occurring in the new implementation of the website of the UOC's Virtual Library, prioritizing the role of users from different points of view: ease of navigation, management of profiles and the services associated to these and the restructuring of the information architecture, with the final aim of facilitating access to the resources and the services offered from the Library, advocating in this way for their quality and improvement.

Shocking policy coefficients

This paper proposes an empirical framework to study the effects of a policy regime change defined as an unpredictable and permanent change in the policy parameters. In particular I show how to make conditional forecast and perform impulse response functions and counterfactual analysis. As an application, the effects of changes in fiscal policy rules in the US are investigated. I find that discretionary fiscal policy has become more countercyclical over the last decades. In absence of such a change, surplus would have been higher, debt lower and output gap more volatile but only until mid 80s. An increase in the degree of counter-cyclicality of fiscal policy has a positive effect on output gap in periods where the level of debt-to-GDP ratio is low and a zero or negative effect when the ratio is high. This explains why a more countercylical stance of the systematic fiscal policy taking place in 2008:II is predicted to be rather ineffective for recovering from the crisis.