Economic crisis and the financial system amplification effect

A well informed and cautious financial system can improves the welfare outcome of an economy by driving lenders surplus to borrow-ers. Nevertheless in a crisis situation the financial system cautious behavior can become a crisis amplifier given that the credit approval conditions are hardly meet, so there could be a credit crunch even in a low interest rates environment. This paper illustrates the previous by developing a general equilibrium model where the collateral credit condition defines the prudential behavior of the financial sys-tem. This and some other conditions amplify the magnitude of a negative productivity shock.

Small states and the promotion of their foreign policy agenda in the international scenario: Trinidad and Tobago and the Kyoto Protocol

Este estudio de caso busca identificar los elementos del portafolio de política exterior de Trinidad y Tobago que le permitieron promover exitosamente sus intereses en el Protocolo de Kioto. Al hacer esto, este texto analizará las limitaciones de Trinidad y Tobago en términos de vulnerabilidades de localización, burocracia y recursos. Posteriormente, una revisión del portafolio de política exterior de este Estado ilustrará el uso de estrategias de creación de capacidades y de organización como lo son el contacto con actores institucionales y no gubernamentales, la formación de coaliciones y estrategias argumentativas, entre otras. Finalmente, este artículo concluirá que dichas acciones permitieron la promoción de la agenda de política exterior de Trinidad y Tobago a través de la creación de hojas de ruta y la coordinación de la incertidumbre con el Protocolo de Kioto. Para hacer esto, este trabajo se concentrará en examinar conceptos como vulnerabilidad y priorización, asimismo contrastando diferentes artículos académicos en la materia junto con documentos oficiales de Trinidad y Tobago.

Forms of participatory democracy: an analytical framework based on the experiences of Bolivia, brazil and Colombia

Based on the experiences of Colombia, Brazil and Bolivia, the paper proposes a general analytical framework for participatory mechanisms. The analysis is oriented to detect the incentives in each system and theethics and behavior sustaining them. It investigates about the sustainability of participatory democracy, in the face of tensions with representative democracy. The article presents a theoretical framework built from theseexperiences of institutional design and political practice, and confronts it against the theoretical conceptualizationsof participatory democracy in Bobbio, Sartori, Elster and Nino, among others. In this context, different waysin which those schemes can be inserted in the political systems become apparent, along with the variables thatresult from combining elements of direct, representative and participatory democracy”

Medical Student’s Use of Time During Clinical Clerkships and the Credits Based System

Introduction: Comprehensive undergraduate education in clinical sciences is grounded on activities developed during clerkships. To implement the credits system we must know how these experiences take place. Objectives: to describe how students spend time in clerkships, how they assess the educative value of activities and the enjoyment it provides. Method: We distributed a form to a random clustered sample of a 100 students coursing clinical sciences, designed to record the time spent, and to assess the educative value and the grade of enjoyment of the activities in clerkship during a week. Data were registered and analyzed on Excel® 98 and SPSS. Results: mean time spent by students in clerkship activities on a day were 10.8 hours. Of those, 7.3 hours (69%) were spent in formal education activities. Patient care activities with teachers occupied the major proportion of time (15.4%). Of the teaching and learning activities in a week, 28 hours (56%) were spent in patient care activities and 22.4 hours (44.5%) were used in independent academic work. The time spent in teaching and learning activities correspond to 19 credits of a semester of 18 weeks. The activities assessed as having the major educational value were homework activities (4.6) and formal education activities (4.5). The graded as most enjoyable were extracurricular activities, formal educational activities and independent academic work. Conclusion: our students spend more time in activities with patients than the reported in literature. The attending workload of our students is greater than the one reported in similar studies.