PPP, UIP and Fisher parity: speculation or rational expectations? Evidence for four Latin American countries

This work aims to test the equilibrium relations of two international macroeconomics models for Colombia, Chile, Mexico and Brazil. The first model is the rational expectation hypothesis (REH) where three key relations will be tested: Purchasing Power Parity (PPP), Uncovered Interest Rate Parity (UIP) and the Fisher Parity condition. The second model follows the line of though of Imperfect Knowledge Economics (IKE) where two equilibrium relations will be tested. According to IKE, even under the assumption that agents are rational, the presence of speculative behavior in financial markets helps explain the long swings often observed in the behavior of exchange rates. The results support the view that the predictions of the IKE model hold for Colombia, while those of the REH hold for both Brazil and Mexico. Mixed findings are obtained for Chile.

Cardiovascular disease in latin american patients with systemic lupus erythematosus: a cross-sectional study and a systematic review

Objective. This study was performed to determine the prevalence of and associated risk factors for cardiovascular disease (CVD) in Latin American (LA) patients with systemic lupus erythematosus (SLE). Methods. First, a cross-sectional analytical study was conducted in 310 Colombian patients with SLE in whom CVD was assessed. Associated factors were examined by multivariate regression analyses. Second, a systematic review of the literature on CVD in SLE in LA was performed. Results. There were 133 (36.5%) Colombian SLE patients with CVD. Dyslipidemia, smoking, coffee consumption, and pleural effusion were positively associated with CVD. An independent effect of coffee consumption and cigarette on CVD was found regardless of gender and duration of disease. In the systematic review, 60 articles fulfilling the eligibility criteria were included. A wide range of CVD prevalence was found (4%–79.5%). Several studies reported ancestry, genetic factors, and polyautoimmunity as novel risk factors for such a condition.Conclusions. A high rate of CVD is observed in LA patients with SLE. Awareness of the observed risk factors should encourage preventive population strategies for CVD in patients with SLE aimed at facilitating the suppression of cigarette smoking and coffee consumption as well as at the tight control of dyslipidemia and other modifiable risk factors.

Shared HLA Class II in Six Autoimmune Diseases in Latin America: A Meta-Analysis

The prevalence and genetic susceptibility of autoimmune diseases (ADs) may vary depending on latitudinal gradient and ethnicity. The aims of this study were to identify common human leukocyte antigen (HLA) class II alleles that contribute to susceptibility to six ADs in Latin Americans through a meta-analysis and to review additional clinical, immunological, and genetic characteristics of those ADs sharing HLA alleles. DRB1∗03:01 (OR: 4.04; 95%CI: 1.41–11.53) was found to be a risk factor for systemic lupus erythematosus (SLE), Sjogren’s syndrome (SS), and type 1 diabetes mellitus (T1D). DRB1 ¨ ∗04:05 (OR: 4.64; 95%CI: 2.14–10.05) influences autoimmune hepatitis (AIH), rheumatoid arthritis (RA), and T1D; DRB1∗04:01 (OR: 3.86; 95%CI: 2.32–6.42) is a susceptibility factor for RA and T1D. Opposite associations were found between multiple sclerosis (MS) and T1D. DQB1∗06:02 and DRB1∗15 alleles were risk factors for MS but protective factors for T1D. Likewise, DQB1∗06:03 allele was a risk factor for AIH but a protective one for T1D. Several common autoantibodies and clinical associations as well as additional shared genes have been reported in these ADs, which are reviewed herein. These results indicate that in Latin Americans ADs share major loci and immune characteristics.

‘Boots for my Sancho’: structural vulnerability among Latin American day labourers in Berkeley, California

This paper addresses the structural vulnerability of Latin American undocumented day labourers in Northern California, as it is expressed in conversations on street corners where they wait for work. The intimate aspects of migrant experience become exemplified in jokes about the Sancho – a hypothetical character who has moved in on a day labourer's family and who enjoys the money he sends home. Joking turns to more serious topics of nostalgia and tensions with family far away, elements that come together with the fears and threats of labour on the corner and affect the way day labourers see themselves. Sexuality is rearticulated in the absence of women and masculinity becomes enmeshed in the contingencies of unregulated work and long-term separation from the people the men support. Together, these elements result in the articulation of threat to the immigrant body itself, which is exemplified by anxieties over homosexual propositions on the corner. Cet article aborde la vulnérabilité structurelle des travailleurs journaliers latino-américains sans papiers dans le Nord de la Californie, telle qu'ils l'expriment dans leurs conversations en attendant du travail aux coins des rues. Les aspects intimes de l'expérience de la migration sont exemplifiés à travers des blagues sur le Sancho – un personnage hypothétique qui, au pays natal, s'est installé dans la famille d'un journalier pour profiter de l'argent qu'elle reçoit de ce dernier. Les blagues deviennent alors des sujets de conversation plus sérieux, sur un fond de nostalgie et de tensions qui résulte de l'éloignement vis-à-vis de la famille – des éléments qui accompagnent les peurs et les menaces liées aux embauches des coins de rue et ont un impact sur la manière dont les journaliers se perçoivent. La sexualité est articulée par rapport à l'absence des femmes et la virilité s'empêtre dans les contingences du travail illégal et de la séparation sur le long terme d'avec les êtres que ces hommes soutiennent financièrement. Ensemble, tous ces éléments ont pour résultat une articulation de la menace vis-à-vis du corps de l'immigré lui-même, qui est exemplifiée par les angoisses dues aux propositions d'homosexuels aux coins des rues.

The Colombian Constitution of 1991 as the Starting Point of a new Constitutionalism in Latin America

The objective of this article is to show that the Colombian Constitution of 1991 has certain traits that clearly differentiate it from Western constitutional tradition. Some of these traits would later be included in constitutional processes and constitutions in Venezuela (1999), Ecuador (1998 and 2008) and Bolivia (2009), in a process collectively known as Latin American Neo-Constitutionalism. This paper intends to demonstrate how the text of the Colombian Constitution represents a turning point that marks the beginning and establishes the foundations for the development of a home-grown constitutional form in Latin America over the last two decades.

Students’ movement and participation in Latin-American psychology: historical and future perspectives

The historiographical paper presented is about the students’ activism and participation in the Latin American psychology. This aims are: 1) to provide a brief historic overview of the Latin American psychology; 2) to review on the students’ participation in the Latin American psychology; 3) to raise students’ future perspectives for the Latin American psychology. It is recognized that there is an extensive past of Latin American psychology and an emerging historiographical work that re fl ects that past.However, there are several historiographical gaps not covered yet by the investigations in the region. In this context, this paper wants to contribute to the study of the students’ activism and participation in the Latin American psychology construction. The historical perspective is supported by the renewed historiographical conception called instant history” which focuses on ancient and recent history at the same time. Indirect sources were used: articles, monographs and compiled editions.

Behavioral neurosciences in Latin-American psychology journals

Behavioral neurosciences have evolved from other disciplines such as psychology, psychiatry and neurology, becoming a prominent area within general neuroscience. In mainstream psychology, neurosciences currently have an important role. In this paper we documented articles published in four Latin-American psychology journals and we classified these papers as empirical or theoretical. We analyzed the main topics covered in the behavioral neurosciences. Most of reported research used humans and rats as study subjects, although other species have also been used as models. Data suggest behavioral neurosciences currently play a growing and prominent role in Latin American psychology.

The Millennium Development Goals: the Hunger, the Children and Women Health in Latin America

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The avatars of housing in Latin American urban and regional research (1990-2012)

The review of the terms used as keywords in three journals (published in Mexico and Chile) and the Brazilian meetings of regional and urban research are used to analyze the trends in housing research. Their dynamics are interpreted in the light of the general changes identified for urban and regional  research, synthesized by other authors as the emergence of new research topics and agents of urban change (civil society, participation, environment, gender) and the process of globalization (in its facets  of productive restructuration, job flexibility, social exclusion) as a general framework of analysis. It is found that the central themes of research in housing relate primarily to government action in  housing. New concerns, such as citizen participation, the environment or gender are linked to these actions as normative elements to the evaluation of programs or policies, but not as autonomous fields of study of the housing.In addition to this central concern, a significant growth of academic  production and  ome indication of the internationalization of research are mentioned

Dynamic conditional correlation in Latin-American asset markets

In this paper we reviewed the models of volatility for a group of five Latin American countries, mainly motivated by the recent periods of financial turbulence. Our results based on high frequency data suggest that Dynamic multivariate models are more powerful to study the volatilities of asset returns than Constant Conditional Correlation models. For the group of countries included, we identified that domestic volatilities of asset markets have been increasing; but the co-volatility of the region is still moderate.

Gross Inequality and Inequality of Opportunities in Basic Education: Were they affected by Latin America’s Economic Boom?

In the context of economic growth and recovering socio-economic conditions, many Latin American countries have implemented deep educational reforms since the beginning of the century. This paper aims to analyse whether these changes have promoted equality of educational opportunities in the region. Both the access and knowledge and skills dimensions are evaluated for six important countries, deepening the analysis for Argentina, Brazil and Colombia, in order to better understand the trends observed. Results point to reasonable progress in access, but reflect an unsatisfactory evolution of the level and distribution of knowledge and skills as reflected by PISA test scores.

Inequality of opportunity in educational achievement in Latin America: evidence from PISA 2006-2009

We assess inequality of opportunity in educational achievement in six Latin American countries, employing two waves of PISA data (2006 and 2009). By means of a non-parametric approach using a decomposable inequality index, GE(0), we rank countries according to their degree of inequality of opportunity. We work with alternative characterizations of types: school type (public or private), gender, parental education, and combinations of those variables. We calculate incremental contributions of each set of circumstances to inequality. We provide rankings of countries based on unconditional inequalities (using conventional indices) and on conditional inequalities (EOp indices), and the two sets of rankings do not always coincide. Inequality of opportunities range from less than 1% to up to 27%, with substantial heterogeneity according to the year, the country, the subject and the specificication of circumstances. Robustness checks based on bootstrap and the use of an alternative index confirm most of the initial results.

International propagation of shocks: an evaluation of contagion effects for some Latin American countries

In this paper we analyze the spread of shocks across assets markets in eight Latin American countries. First, we measure the extent of markets reactions with the Principal Components Analysis. And second, we investigate the volatility of assets markets based in ARCH-GARCH models in function of the principal components retained in the first stage. Our results do not support the existence of financial contagion, but of interdependence in most of the cases and a slight increase in the sensibility of markets to recent shocks.

Stock return comovements and integration within the Latin American integrated market

Financial integration has been pursued aggressively across the globe in the last fifty years; however, there is no conclusive evidence on the diversification gains (or losses) of such efforts. These gains (or losses) are related to the degree of comovements and synchronization among increasingly integrated global markets. We quantify the degree of comovements within the integrated Latin American market (MILA). We use dynamic correlation models to quantify comovements across securities as well as a direct integration measure. Our results show an increase in comovements when we look at the country indexes, however, the increase in the trend of correlation is previous to the institutional efforts to establish an integrated market in the region. On the other hand, when we look at sector indexes and an integration measure, we find a decreased in comovements among a representative sample of securities form the integrated market.

The impact of a minimum pension on old age poverty and its budgetary cost. Evidence from Latin America

This paper examines the impact on old age poverty and the fiscal cost of universal minimum oldage pensions in Latin America using recent household survey data for 18 countries. Alleviatingold age poverty requires different approach from other age groups and a minimum pension islikely to be the only alternative available. First we measure old age poverty rates for all countries.Second we discuss the design of minimum pensions schemes, means-tested or not, as wellas the disincentive effects that they are expected to have on the economic and social behavior ofhouseholds including labor supply, saving and family solidarity. Third we use the household surveysto simulate the fiscal cost and the impact on poverty rates of alternative minimum pensionschemes in the 18 countries. We show that a universal minimum pension would substantiallyreduce poverty among the elderly except in Argentina, Brazil, Chile and Uruguay where minimumpension systems already exist and poverty rates are low. Such schemes have much tobe commended in terms of incentives, spillover effects and administrative simplicity but have ahigh fiscal cost. The latter is a function of the age at which benefits are awarded, the prevailinglongevity, the generosity of benefits, the efficacy of means testing, and naturally the fiscal capacityof the country.