Late Neogene lacustrine record and paleogeography in the Quillagua-Llamara basin, Central Andean fore-arc (Northern Chile)

The Cenozoic QuillaguaLlamara basin (northern Chile, Central Andes) is an asymmetrical, intramassif fore-arc basin with a relatively wide northern sector separated from a narrower southward extension by a basement threshold. The north- ern sector was characterised by a noticeable Oligocene?late Neogene alluvial-fan and lacustrine dominated deposition which resulted in sequences up to 900 m thick, whereas the southern sector was often a bypass zone with thinner fluvial and lacustrine sediment accumulation.

Independent Central Banks: Low inflation at no cost?: A model with fiscal policy

In this article we extend the rational partisan model of Alesina and Gatti (1995) to include a second policy, fiscal policy, besides monetary policy. It is shown that, with this extension, the politically induced variance of output is not always eliminated nor reduced by delegating monetary policy to an independent and conservative central bank. Further, in flation and output stabilisation will be affected by the degree of conservativeness of the central bank and by the probability of the less in flation averse party gaining power. Keywords: rational partisan theory; fiscal policy; independent central bank JEL Classi fication: E58, E63.

The Conservativeness of the Central Bank when Institutional Quality is Poor

We propose an extension of Alesina and Tabellini 's model (1987) to include corruption, which is understood as the presence of weak institutions collecting revenue through formal tax channels. This paper analyses how conservative should an independent central bank be when the institutional quality is poor. When there are no political distortions, we show that the central bank has to be more conservative than the government, except with complete corruption. In this particular case, the central bank should be as conservative as the government. Further, we obtain that the relationship between the optimal relative degree of conservativeness of the central bank and the degree of corruption is affected by supply shocks. Concretely, when these shocks are not important, the central bank should be less conservative if the degree of corruption increases. However, this result may not hold when the shocks are relevant. JEL classi fication: D6, D73, E52, E58, E62, E63. Keywords: Central Bank Conservativeness; Corruption; Fiscal Policy; Monetary Policy; Seigniorage.

In search of mathematical primitives for deriving universal projective hash families

We provide some guidelines for deriving new projective hash families of cryptographic interest. Our main building blocks are so called group action systems; we explore what properties of this mathematical primitives may lead to the construction of cryptographically useful projective hash families. We point out different directions towards new constructions, deviating from known proposals arising from Cramer and Shoup's seminal work.

When does universal peace prevail? Secession and group formation in rent seeking contests and policy conflicts

This paper analyzes secession and group formation in a general model of contest inspired by Esteban and Ray (1999). This model encompasses as special cases rent seeking contests and policy conflicts, where agents lobby over the choice of a policy in a one-dimensional policy space. We show that in both models the grand coalition is the efficient coalition structure and agents are always better off in the grand coalition than in a symmetric coalition structure. Individual agents (in the rent seeking contest) and extremists (in the policy conflict) only have an incentive to secede when they anticipate that their secession will not be followed by additional secessions. Incentives to secede are lower when agents cooperate inside groups. The grand coalition emerges as the unique subgame perfect equilibrium outcome of a sequential game of coalition formation in rent seeking contests.

How universal is behavior? A four country comparison of spite, cooperation and errors in voluntary contribution mechanisms

This paper studies behavior in experiments with a linear voluntary contributions mechanism for public goods conducted in Japan, the Netherlands, Spain and the USA. The same experimental design was used in the four countries. Our 'contribution function' design allows us to obtain a view of subjects' behavior from two complementary points of view. If yields information about situations where, in purely pecuniary terms, it is a dominant strategy to contribute all the endowment and about situations where it is a dominant strategy to contribute nothing. Our results show, first, that differences in behavior across countries are minor. We find that when people play "the same game" they behave similarly. Second, for all four countries our data are inconsistent with the explanation that subjects contribute only out of confusion. A common cooperative motivation is needed to explain the date.

The role of central bank operating procedures in an economy with productive government spending

The choice of either the rate of monetary growth or the nominal interest rate as the instrument controlled by monetary authorities has both positive and normative implications for economic performance. We reexamine some of the issues related to the choice of the monetary policy instrument in a dynamic general equilibrium model exhibiting endogenous growth in which a fraction of productive government spending is financed by means of issuing currency. When we evaluate the performance of the two monetary instruments attending to the fluctuations of endogenous variables, we find that the inflation rate is less volatile under nominal interest rate targeting. Concerning the fluctuations of consumption and of the growth rate, both monetary policy instruments lead to statistically equivalent volatilities. Finally, we show that none of these two targeting procedures displays unambiguously higher welfare levels.

Sources of Competitiveness in Tourist Local Systems

At the end of the XIX Century, Marshall described the existence of some concentrations of small and medium enterprises specialised in a specific production activity in certain districts of some industrial English cities. Starting from his contribute, Italian scholars have paid particular attention to this local system of production coined by Marshall under the term industrial district. In other countries, different but related territorial models have played a central role as the milieu or the geographical industrial clusters. Recently, these models have been extended to non-industrial fields like culture, rural activities and tourism. In this text, we explore the extension of these territorial models to the study of tourist activities in Italy, using a framework that can be easily applied to other countries or regions. The paper is divided in five sections. In the first one, we propose a review of the territorial models applied to tourism industry. In the second part, we construct a tourist filiere and we apply a methodology for the identification of local systems through GIS tools. Thus, taxonomy of the Italian Tourist Local Systems is presented. In the third part, we discuss about the sources of competitiveness of these Tourist Local Systems. In the forth section, we test a spatial econometrics model regarding different kinds of Italian Tourist Local Systems (rural systems, arts cities, tourist districts) in order to measure external economies and territorial networks. Finally, conclusions and policy implications are exposed.

Galois extension of CP-Graded ring extensions

In this paper, we investigate galois theory of CP-graded ring extensions. In particular, we generalize some galois results given in [1, 2] and, without restriction to nor graded fields nor torsion free of the grade groups, we show that some results of graded field extensions given in [3] hold.

Payments for environmental services in watersheds: insights from a comparative study of three cases in Central America

We have compared three cases of payments for water-related environmental services (PES) in Central America, in terms of socioeconomic background, opportunity costs of forest conservation and stakeholders’ perceptions on the conditions of water resources and other issues. We found that, in general, the foregone benefits from land uses alternative to forest cover are larger than the amount paid, which apparently contradicts the economic foundation of PES schemes. A number of possible explanations are explored. The results also suggest that trade-offs between different environmental and social goals are likely to emerge in PES schemes, posing some doubts on their ability to be multipurpose instruments for environmental improvement and rural development. We also found that PES schemes may work as a conflictresolution instrument, facilitating downstream -upstream problem solving, though at the same time they might introduce changes in social perceptions of property rights.

Ten Propositions on Rural Poverty and Agrarian Transition in Central Eurasia

The relation between agricultural development and rural poverty reduction in six Central Eurasian countries, namely Azerbaijan (South Caucasus) and Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan (Central Asia), is discussed by presenting and analyzing ten propositions. These propositions cover a broad range of issues that relate to rural poverty in this region, such as: the state of income and non-income poverty; the diverse processes of land reform and farm restructuring, and agricultural policy reform; and finally, the institutional and market framework that is needed for dynamic agricultural and rural development. The paper contends that rural poverty is not responding as robustly to rapid economic growth in these countries, and that agricultural growth, in particular in the newly emerging peasant farm sector, is necessary to promote rural poverty reduction.

La Accesibilidad universal y el diseño para todos: los ejes determinantes de las políticas de igualdad de oportunidades III

Capítol del llibre "Tratado sobre la discapacidad", R. De Lorenzo, L. Cayo Pérez Bueno. Navarra: Thomson Aranzadi,2007. Planteja el significat dels conceptes "Accessibilitat Universal", que és fonamentalment la condició que han de complir els entorns, processos, bens, productes i serveis, així com els objectes o instruments, eines i dispositius, per a ser comprensibles, utilitzables i practicables per a totes les persones en condicions de seguretat i comoditat i de la manera més autònoma possible.. Això pressuposa el "Disseny per a tothom" i s'entén que sense perjudici dels ajustos raonables que s'hagin d'adoptar.

La Accesibilidad universal en los municipios: guía para una política integral de promoción y gestión

Conscientes de las complejidades que presenta la organización administrativa local y la diversidad que caracteriza a los Ayuntamientos de España, y lejos de querer establecer fórmulas mágicas o generalizar soluciones, con esta Guía se pretende aportar ideas útiles mediante propuestas y algunos ejemplos; con ella se quiere ayudar a promover distintas intervenciones a favor de la accesibilidad en los municipios. En este sentido, esta Guía pretende ser soporte para desarrollar una nueva etapa de intervención municipal en accesibilidad, que vaya más allá de la mera supresión de barreras y se prevenga su creación. Las medidas que se desarrollan son posibles vías para que los gobiernos locales puedan gestionar y promocionar de forma eficaz la accesibilidad en el municipio y así establecer una base sobre la cual todos los ciudadanos puedan desarrollar sus libertades individuales plenamente.

Guía para el diseño e implementación de un master en accesibilidad universal. La aplicación del diseño para todos en entornos, productos y servicios

Esta Guía nace con la intención de impulsar en esta situación poco favorable el desarrollo del mencionado curso de postgrado en la universidad española. En ese sentido, pretende ser un recurso a utilizar por el profesorado universitario y el grupo de expertos en accesibilidad que constituya el futuro equipo docente de esta iniciativa formativa, como punto de partida para el necesario proceso de concreción curricular que tendrán que realizar. Queremos destacar aquí que esta guía no se concibe, por tanto, como el programa de un Master en accesibilidad Universal, aunque incluye a modo de ejemplo una propuesta concreta, sino como un conjunto de recursos a utilizar para elaborarlo, respetando así el principio de autonomía universitaria y docente en el que creemos firmemente.

When do central banks prefer to intervene secretly?

Central banks often intervene secretly in the foreign exchange market. This secrecy seems to be at odds with the signalling channel. In this article we will analyse when a central bank intervening in the foreign exchange rate market purely through the signalling channel would prefer to act secretly or publicly. By using a microstructure model, we will show that the consistency of the intervention with fundamentals, the volume of noise trading, the weight given to the effectiveness of intervention and the degree of superior information held by the central bank will influence the decision to intervene secretly or publicly. Keywords: foreign exchange intervention, market microstructure. JEL Classifi…cation: D82, E58, F31, G14.