Estimating and Forecasting the Term Structure of Interest Rates:US and Colombia Analysis

In this paper we use the most representative models that exist in the literature on term structure of interest rates. In particular, we explore affine one factor models and polynomial-type approximations such as Nelson and Siegel. Our empirical application considers monthly data of USA and Colombia for estimation and forecasting. We find that affine models do not provide adequate performance either in-sample or out-of-sample. On the contrary, parsimonious models such as Nelson and Siegel have adequate results in-sample, however out-of-sample they are not able to systematically improve upon random walk base forecast.

Energy saving innovations, non-exhaustible sources of energy and long-run: what would happen if we run out of oil?

We formulate and solve a model of factor saving technological improvement considering three factors of production: labor, capital and energy. The productive activities have three main characteristics: first, in order to use capital goods firms need energy; second, there are two sources of energy: non-exhaustible and exhaustible; third, capital goods can be of different qualities and the quality of these goods can be changed along two dimensions -reducing the need of energy or changing the source of energy used in the production process. The economy goes through three stages of development after industrialization. In the first, firms make use of exhaustible energy and the e¢ ciency in the use of energy is constant. In the second stage, as the price of energy grows the e¢ ciency in its use is increased. In the third stage, the price of exhaustible sources is so high that firms have incentives to use non-exhaustible sources of energy. During this stage the price of energy is constant. In this set up, the end of the oil age has level effects on consumption and output but it does not cause the collapse of the economic system.

Energy Saving Innovations, Non-Exhaustible Sources of Energy and Long-Run: What Would Happen if we Run Out of Oil?

Se formula y resuelve un modelo de cambio tecnológico ahorrador de factores de producción que considera tres factores: capital, trabajo y energía. El modelo cuenta con características específicas con respecto a la interacción n entre la energía (la cual, de acuerdo a su fuente puede ser renovable y no renovable) y el capital. Una vez esta economía se ha definido, se supone que evoluciona en tres etapas luego de su industrialización, durante las cuales el carácter renovable o no renovable de la energía influye su precio relativo, eficiencia y afecta también el nivel agregado de consumo y producción de la economía, sin que esta evolución lleve al colapso del sistema económico.

Preliminary factorial structure of the O’Kelly Women’s Belief Scales in Mexican population

A Back-translated Mexican version of the Austra- lian o’Kelly Women’s Belief scales was given to a sample of 363 women born and living in Mexico. A factor analysis with a varimax rotation with cu- toff eigenvalues of 3 showed that 36 out of the 92 items originally developed in the Australian study accounted for 40.138% of the variance, and could be ultimately grouped into two factors: one “ra- tionality” factor, with a total of 14 items, and one “Irrationality” factor with a total of 22 items, and with a very low Pearson’s rs (.119) between them. these results support the equivalency of the Mexi- can version to the original instrument used to iden- tify the presence of the reBt’s absolutistic, rigid beliefs about traditional feminine roles in women.

Analysis of the alveolar recruitment maneuvers applied at seven intensive care units

Introduction: During the past years, alveolar recruitment maneuvers (RM) have produced growing interest due to their beneficial potential in pulmonary protection, and have been introduced in clinical practice. Objective: To describe and analyze the knowledge of MR and its application at seven intensive care units in the city of Cali, Colombia. Methods and materials: Descriptive Cross-Sectional Study with an intentional sample of 64 professionals working in seven intensive care units and who apply MR. The self-completed survey was made up of thirteen questions, and the application period was two months. Results: Out of 64 professionals surveyed, 77.8% of them follow a protocol guide; 54.7% employes during RM the ideal Positive end-expiratory pressure (PEEP), which maintains a saturation > 90% and a PaO2 > 60 mmHg; 42.1% tolerates airway pressures between 35 and 50 cmH2O; 48.4% perform RM with a progressive increase of the PEEP and a low tidal volume. Conclusions: Regarding the knowledge related to RM, heterogeneity was found in the answers. There is currently no consensus about which is the most effective and secure way to implement an MR. This study can be the starting point to create awareness towards the revision of knowledge, capacities and abilities that are required to perform RM.