Paper de les técniques d’imatge en la sel•leccio i seguiment dels pacients amb insuficiencia cardiaca candidats a terapia de reisincronització cardiaca

Estudi elaborat a partir d’una estada a la Leiden University Medical Center durant l’any 2007. La teràpia de resincronització cardíaca (TRC), mitjançant l'estimulació biventricular, millora el pronòstic dels pacients amb insuficiència cardíaca i asincronia ventricular. Tot i així, fins a una tercera part dels pacients que reben TRC no presenten cap milloria clínica ni en la funció cardíaca. L'absència d'asincronia ventricular és una de les raons que explicarien la falta de resposta. Les tècniques actuals d'ecocardiografia permeten caracteritzar la mecànica ventricular i definir l'asincronia ventricular acuradament. Mitjançant tècniques ecocardiogràfiques s’ha estudiat la mecànica i sincronia ventriculars dels pacients amb insuficiència cardíaca tractats amb TRC per obtenir predictors de resposta a aquesta teràpia per optimitzar la seva relació cost-eficàcia. En 161 pacients tractats amb TRC es varen realitzar ecocardiografies seriades (abans i després de la implantació del marcapàs biventricular, amb el dispossitiu activat i desactivat). Els volums i la fracció d'ejecció ventriculars esquerres varen ser quantificats. L'asincronia ventricular esquerra va ser estudiada amb imatge en 2D strain, calculant el retard d'activació entre diferents segments ventriculars en diferents direccions: longitudinal, circumferencial i radial. Tanmateix, els efectes de la TRC sobre el remodelat i la mecànica ventricular esquerra es varen avaluar amb tècniques de 2D strain, mesurant el pic sistòlic d'escurçament longitudinal (GLPSS). Una reducció d'un 15% o més del volum telesistòlic del ventricle esquerre al final del seguiment va ser considerat com a marcador de resposta favorable a la TRC. Els resultats han mostrat que les tècniques de 2D strain permeten estudiar àmpliament la sincronia i mecànica ventriculars esquerres per identificar pacients que potencialment responedors a la TRC.

Nuevos y viejos criterios de rentabilidad que concuerdan con el criterio del valor actual neto

El análisis de criterios clásicos de rentabilidad, como la Tasa Interna de Rendimiento o el Cociente Beneficio/Coste, revela que, contra lo que se suponía, concuerdan con el criterio Valor Actual Neto si se aplican correctamente. Lo mismo ocurre con los viejos criterios Valor Final Neto y Anualidad Equivalente y los nuevos Demora Máxima de Beneficios y Plazo de Recuperación de Costes. Se demuestra, además, que para elegir entre dos proyectos mutuamente excluyentes, la aplicación de los criterios citados al proyecto diferencia o incremental es una condición suficiente para que exista concordancia con el criterio Valor Actual Neto.

Nuevos y viejos criterios de rentabilidad que concuerdan con el criterio del valor actual neto

El análisis de criterios clásicos de rentabilidad, como la Tasa Interna de Rendimiento o el Cociente Beneficio/Coste, revela que, contra lo que se suponía, concuerdan con el criterio Valor Actual Neto si se aplican correctamente. Lo mismo ocurre con los viejos criterios Valor Final Neto y Anualidad Equivalente y los nuevos Demora Máxima de Beneficios y Plazo de Recuperación de Costes. Se demuestra, además, que para elegir entre dos proyectos mutuamente excluyentes, la aplicación de los criterios citados al proyecto diferencia o incremental es una condición suficiente para que exista concordancia con el criterio Valor Actual Neto.

On the foundations of well-being economics and policy

When one wishes to implement public policies, there is a previous need of comparing different actions and valuating and evaluating them to assess their social attractiveness. Recently the concept of well-being has been proposed as a multidimensional proxy for measuring societal prosperity and progress; a key research topic is then on how we can measure and evaluate this plurality of dimensions for policy decisions. This paper defends the thesis articulated in the following points: 1. Different metrics are linked to different objectives and values. To use only one measurement unit (on the grounds of the so-called commensurability principle) for incorporating a plurality of dimensions, objectives and values, implies reductionism necessarily. 2. Point 1) can be proven as a matter of formal logic by drawing on the work of Geach about moral philosophy. This theoretical demonstration is an original contribution of this article. Here the distinction between predicative and attributive adjectives is formalised and definitions are provided. Predicative adjectives are further distinguished into absolute and relative ones. The new concepts of set commensurability and rod commensurability are introduced too. 3. The existence of a plurality of social actors, with interest in the policy being assessed, causes that social decisions involve multiple types of values, of which economic efficiency is only one. Therefore it is misleading to make social decisions based only on that one value. 4. Weak comparability of values, which is grounded on incommensurability, is proved to be the main methodological foundation of policy evaluation in the framework of well-being economics. Incommensurability does not imply incomparability; on the contrary incommensurability is the only rational way to compare societal options under a plurality of policy objectives. 5. Weak comparability can be implemented by using multi-criteria evaluation, which is a formal framework for applied consequentialism under incommensurability. Social Multi-Criteria Evaluation, in particular, allows considering both technical and social incommensurabilities simultaneously.

The Cost of ownership in the governance of interfirm collaborations

This paper investigates the selection of governance forms in interfirm collaborations taking into account the predictions from transaction costs and property rights theories. Transaction costs arguments are often used to justify the introduction of hierarchical controls in collaborations, but the ownership dimension of going from “contracts” to “hierarchies” has been ignored in the past and with it the so called “costs of ownership”. The theoretical results, tested with a sample of collaborations in which participate Spanish firms, indicate that the cost of ownership may offset the benefits of hierarchical controls and therefore limit their diffusion. Evidence is also reported of possible complementarities between reputation effects and forms of ownership that go together with hierarchical controls (i.e. joint ventures), in contrast with the generally assumed substitutability between the two.

Price competition under cost uncertainty: A laboratory analysis

We study the relation between the number of firms and price-cost margins under price competition with uncertainty about competitors' costs. We present results of an experiment in which two, three and four identical firms repeatedly interact in this environment. In line with the theoretical prediction, market prices decrease with the number of firms, but on average stay above marginal costs. Pricing is less aggressive in duopolies than in triopolies and tetrapolies. However, independently from the number of firms, pricing is more aggressive than in the theoretical equilibrium. Both the absolute and the relative surpluses increase with the number of firms. Total surplus is close to the equilibrium level, since enhanced consumer surplus through lower prices is counteracted by occasional displacements of the most efficient firm in production.

The Total fiscal cost of indirect taxation: an approximation using Catalonia's recent input-output table

In this note we quantify to what extent indirect taxation influences and distorts prices. To do so we use the networked accounting structure of the most recent input-output table of Catalonia, an autonomous region of Spain, to model price formation. The role of indirect taxation is considered both from a classical value perspective and a more neoclassical flavoured one. We show that they would yield equivalent results under some basic premises. The neoclassical perspective, however, offers a bit more flexibility to distinguish among different tax figures and hence provide a clearer disaggregate picture of how an indirect tax ends up affecting, and by how much, the cost structure.

Agency cost of government ownership: a study of voluntary audit comitte formation in China

In this paper, we investigate the agency costs of government ownership and their impact on corporate governance and firm value. China is used as a laboratory because of the prevalent state shareholdings in exchange-listed firms. In this context, we specifically consider the trade-offs involved in the voluntary formation of an audit committee when the controlling shareholder is the state. The decision to improve corporate governance (in this case, introduce an audit committee) is shown to be value relevant and a function of existing agency relationships and non-trivial implementation costs. Our findings are robust to the level of pyramid groups, the ownership-control wedge, and financial leverage. The research adds to the debate regarding the effect of government shareholdings on corporate culture and performance - a topic that hastaken on renewed importance in recent times.

Prediction of the economic cost of individual long-term care in the Spanish population

Pensions together with savings and investments during active life are key elements of retirement planning. Motivation for personal choices about the standard of living, bequest and the replacement ratio of pension with respect to last salary income must be considered. This research contributes to the financial planning by helping to quantify long-term care economic needs. We estimate life expectancy from retirement age onwards. The economic cost of care per unit of service is linked to the expected time of needed care and the intensity of required services. The expected individual cost of long-term care from an onset of dependence is estimated separately for men and women. Assumptions on the mortality of the dependent people compared to the general population are introduced. Parameters defining eligibility for various forms of coverage by the universal public social care of the welfare system are addressed. The impact of the intensity of social services on individual predictions is assessed, and a partial coverage by standard private insurance products is also explored. Data were collected by the Spanish Institute of Statistics in two surveys conducted on the general Spanish population in 1999 and in 2008. Official mortality records and life table trends were used to create realistic scenarios for longevity. We find empirical evidence that the public long-term care system in Spain effectively mitigates the risk of incurring huge lifetime costs. We also find that the most vulnerable categories are citizens with moderate disabilities that do not qualify to obtain public social care support. In the Spanish case, the trends between 1999 and 2008 need to be further explored.

Eficàcia predictiva de l’HCR-20 i del PCL:SV en contexts institucionals

L’estudi es dirigeix a avaluar la capacitat predictiva sobre la violència dels instruments de judici clínic estructurat, amb una metodologia que aporti resultats comparables a estudis de l’àmbit internacional. La investigació es va portar a terme en un hospital civil de salut mental i la mostra està composta per 114 pacients de les unitats de crònics i subaguts. A l’avaluació inicial, l’HCR-20, el PCL:SV i el Protocol 7 van ser els instruments utilitzats per a la recollida d’informació de les variables predictors. La variable depenent o resultat va ser registrada prospectivament per part de l’equip d’infermeria amb un instrument observacional de fàcil ús, el MOAS. Mitjançant índexs de correlació, càlcul de riscos relatius, i anàlisis de regressió logística i corbes ROC va ser possible conèixer que l’HCR-20 i el PCL-SV són mesures vàlides per a la predicció de la violència intrahospitalària en el curt i mig termini en una mostra espanyola de persones amb malaltia mental severa. L’HCR-20 i particularment els ítems clínics van ser els millors predictors de la violència física envers a persones i objectes. Tant la puntuació numèrica de l’HCR-20 com el judici clínic estructurat van demostrar una precisió predictiva alta i comparable a l'obtinguda amb la versió original de l'instrument. El PCL:SV va arribar una precisió predictiva moderada que va anar disminuint al llarg del seguiment. Altres factors de risc com les agressions o la ira prèvies a l’avaluació també van augmentar significativament el risc de violència durant l’any de seguiment.

The Complementarity between segment disclosure and earnings quality, and its effect on cost of capital

We investigate the role of earnings quality in determining the levels of segment disclosure, and whether and how better quality earnings and segment disclosure influences cost of capital. Using a large US sample for the period 2001-2006, we find a positive relation between earnings quality and levels of segment disclosures. We also find that firms providing better quality segment information, contingent upon good earnings quality, enjoy lower cost of capital. We base our empirical tests on a self created index of segment disclosure. Our results contribute to a better understanding of (1) the incentives for providing segment disclosures, and (2) how accounting quality (quality of segment information and earnings quality) is related to the cost of capital.

An empirical analysis of a merger between a network and low-cost airlines

We use a difference-in-difference estimator to examine the effects of a merger involving three airlines. The novelty lies in the examination of this operation in two distinct scenarios: (1) on routes where two low-cost carriers and (2) on routes where a network and one of the low-cost airlines had previously been competing. We report a reduction in frequencies but no substantial effect on prices in the first scenario, while in the second we report an increase in prices but no substantial effect on frequencies. These results may be attributed to the differences in passenger types flying on these routes.

The Political cost of reforms

This paper formalizes in a fully-rational model the popular idea that politicians perceive an electoral cost in adopting costly reforms with future benefits and reconciles it with the evidence that reformist governments are not punished by voters. To do so, it proposes a model of elections where political ability is ex-ante unknown and investment in reforms is unobservable. On the one hand, elections improve accountability and allow to keep well-performing incumbents. On the other, politicians make too little reforms in an attempt to signal high ability and increase their reappointment probability. Although in a rational expectation equilibrium voters cannot be fooled and hence reelection does not depend on reforms, the strategy of underinvesting in reforms is nonetheless sustained by out-of-equilibrium beliefs. Contrary to the conventional wisdom, uncertainty makes reforms more politically viable and may, under some conditions, increase social welfare. The model is then used to study how political rewards can be set so as to maximize social welfare and the desirability of imposing a one-term limit to governments. The predictions of this theory are consistent with a number of empirical regularities on the determinants of reforms and reelection. They are also consistent with a new stylized fact documented in this paper: economic uncertainty is associated to more reforms in a panel of 20 OECD countries.

Entrevistant infants pre-escolars víctimes d’abús sexual i/o maltractament familiar : Eficàcia dels models d’entrevista forense

Entrevistant infants pre-escolars víctimes d’abús sexual i/o maltractament familiar: eficàcia dels models d’entrevista forense Entrevistar infants en edat preescolar que han viscut una situació traumàtica és una tasca complexa que dins l’avaluació psicològica forense necessita d’un protocol perfectament delimitat, clar i temporalitzat. Per això, s’han seleccionat 3 protocols d’entrevista: el Protocol de Menors (PM) de Bull i Birch, el model del National Institute for Children Development (NICHD) de Michel Lamb, a partir del qual es va desenvolupar l’EASI (Evaluación del Abuso Sexual Infantojuvenil) i l’Entrevista Cognitiva (EC) de Fisher i Geiselman. La hipòtesi de partida vol comprovar si els anteriors models permeten obtenir volums informatius diferents en infants preescolars. Conseqüentment, els objectius han estat determinar quin dels models d’entrevista permet obtenir un volum informatiu amb més precisions i menys errors, dissenyar un model d’entrevista propi i consensuar aquest model. En el treball s’afegeixen esquemes pràctics que facilitin l’obertura, desenvolupament i tancament de l’entrevista forense. La metodologia ha reproduït el binomi infant - esdeveniment traumàtic, mitjançant la visualització i l’explicació d’un fet emocionalment significatiu amb facilitat per identificar-se: l’accident en bicicleta d’un infant que cau, es fa mal, sagna i el seu pare el cura. A partir d’aquí, hem entrevistat 135 infants de P3, P4 i P5, mitjançant els 3 models d’entrevista referits, enfrontant-los a una demanda específica: recordar i narrar aquest esdeveniment. S’ha conclòs que el nivell de record correcte, quan s’utilitza un model d’entrevista adequat amb els infants en edat preescolar, oscil•la entre el 70-90%, fet que permet defensar la confiança en els records dels infants. Es constata que el percentatge d’emissions incorrectes dels infants en edat preescolar és mínim, al voltant d’un 5-6%. L’estudi remarca la necessitat d’establir perfectament les regles de l’entrevista i, per últim, en destaca la ineficàcia de les tècniques de memòria de l’entrevista cognitiva en els infants de P3 i P4. En els de P5 es comencen a veure beneficis gràcies a la tècnica de la reinstauració contextual (RC), estant les altres tècniques fora de la comprensió i utilització dels infants d’aquestes edats. Interviewing preschoolers victims of sexual abuse and/or domestic abuse: Effectiveness of forensic interviews models 135 preschool children were interviewed with 3 different interview models in order to remember a significant emotional event. Authors conclude that the correct recall of children ranging from 70-90% and the percentage of error messages is 5-6%. It is necessary to fully establish the rules of the interview. The present research highlights the effectiveness of the cognitive interview techniques in children from P3 and P4. Entrevistando niños preescolares víctimas de abuso sexual y/o maltrato familiar: eficacia de los modelos de entrevista forense Se han entrevistado 135 niños preescolares con 3 modelos de entrevista diferentes para recordar un hecho emocionalmente significativo. Se concluye que el recuerdo correcto de los niños oscila entre el 70-90% y el porcentaje de errores de mensajes es del 5-6%. El estudio remarca la necesidad de establecer perfectamente las reglas de la entrevista y se destaca la ineficacia de las técnicas de la entrevista cognitiva en los niños de P3 y P4.