Impact of colonic cleansing on quality and diagnostic yield of colonoscopy: the European Panel of Appropriateness of Gastrointestinal Endoscopy European multicenter study.

BACKGROUND: The quality of colon cleansing is a major determinant of quality of colonoscopy. To our knowledge, the impact of bowel preparation on the quality of colonoscopy has not been assessed prospectively in a large multicenter study. Therefore, this study assessed the factors that determine colon-cleansing quality and the impact of cleansing quality on the technical performance and diagnostic yield of colonoscopy. METHODS: Twenty-one centers from 11 countries participated in this prospective observational study. Colon-cleansing quality was assessed on a 5-point scale and was categorized on 3 levels. The clinical indication for colonoscopy, diagnoses, and technical parameters related to colonoscopy were recorded. RESULTS: A total of 5832 patients were included in the study (48.7% men, mean age 57.6 [15.9] years). Cleansing quality was lower in elderly patients and in patients in the hospital. Procedures in poorly prepared patients were longer, more difficult, and more often incomplete. The detection of polyps of any size depended on cleansing quality: odds ratio (OR) 1.73: 95% confidence interval (CI)[1.28, 2.36] for intermediate-quality compared with low-quality preparation; and OR 1.46: 95% CI[1.11, 1.93] for high-quality compared with low-quality preparation. For polyps >10 mm in size, corresponding ORs were 1.0 for low-quality cleansing, OR 1.83: 95% CI[1.11, 3.05] for intermediate-quality cleansing, and OR 1.72: 95% CI[1.11, 2.67] for high-quality cleansing. Cancers were not detected less frequently in the case of poor preparation. CONCLUSIONS: Cleansing quality critically determines quality, difficulty, speed, and completeness of colonoscopy, and is lower in hospitalized patients and patients with higher levels of comorbid conditions. The proportion of patients who undergo polypectomy increases with higher cleansing quality, whereas colon cancer detection does not seem to critically depend on the quality of bowel preparation.

Causes of subcontracting: Evidence from panel data on construction firms

This paper examines factors explaining subcontracting decisions in the construction industry. Rather than the more common cross-sectional analyses, we use panel data to evaluate the influence of all relevant variables. We design and use a new index of the closeness to small numbers situations to estimate the extent of hold-up problems. Results show that as specificity grows, firms tend to subcontract less. The opposite happens when output heterogeneity and the use of intangible assets and capabilities increase. Neither temporary shortage of capacity nor geographical dispersion of activities seem to affect the extent of subcontracting. Finally, proxies for uncertainty do not show any clear effect.

Informe sobre la segunda reunión del panel de expertos de dinámica de población de la anchoveta peruana

La segunda reunión del panel de expertos continua sus estudios sobre recursos pesqueros tomando como tema principal la anchoveta peruana. Esta investigación considera el trabajo realizado el año anterior en su primera reunión.

Tercera sesión del panel de expertos sobre la dinámica de la población de anchoveta peruana, julio de 1972

La tercera sesión del panel de expertos hace un reencuentro de las condiciones oceanográficas entre el año 1971 y 1972 respecto a la pesquería de la anchoveta.

Informe de la Cuarta sesión del panel de expertos de la evaluación del stock de anchoveta peruana

Se presenta una revisión de los sucesos de las pesquerías en el lapso desde la anterior reunión del Panel en Julio, 1972 y de lo que se piensa ha tenido lugar en el recurso y en su medio ambiente; se indican diversas líneas de investigación del stock. Se resume la evidencia colateral acerca de los stocks y de su medio ambiente; ésta se relaciona con el fenómeno de El Niño, con las aves guaneras, el aumento de las capturas de sardinas, el contenido graso de la anchoveta y los estadios de maduración de la misma. Cada una de estas entidades indican que recientemente han prevalecido condiciones especiales en el ambiente de la anchoveta, en la biota asociada y en ciertos aspectos de su fisiología. Se ha hecho una detallada revisión de varios tipos de investigación de las poblaciones de anchoveta y de las evidencias que, acerca del estado del recurso, pueden derivarse de tales investigaciones. Se examinó la evidencia obtenida del uso de equipo acústico en el estudio de la distribución de stocks y en la estimación de su abundancia; el trabajo se realizó mediante exploraciones de varias embarcaciones (exploraciones Eureka) y de exploraciones especiales con el barco de investigación SNP-1; también se hizo uso de equipo eco-integrador. Se discuten las fuentes de errores sistemáticos existentes en ese trabajo. Se llega a la conclusión que lo que ese trabajo indicó fue que en Febrero de 1973 existía alrededor de 4 millones de toneladas de anchoveta.

Segundo panel de expertos:informe sobre los efectos económicos de diferentes medidas regulatorias de la pesquería de la Anchoveta peruana

En el informe de su cuarta reunión el Panel de Expertos en Dinámica revisó los datos proporcionados por el Instituto del Mar del Perú sobre el presente estado del stock de la anchoveta. Estos datos mostraron, evidentemente, que el stock de ancho veta se encontraba en una crítica situación a comienzos de 1973. Los mejores cálculos indicaban que la mayor captura que podría obtenerse en 1973 sería alrededor de a millones de toneladas pero que sería conveniente mantencrla muy por debajo de este nivel, especialmente antes de la mayor temporada de desove en Agosto-Setiembre. En 1974 el reclutamiento podía ser muy bajo especialmente si el stock desovante seguía siendo agotado por la pesca, de modo que las capturas en 1974 podrían ser mucho más bajas del promedio aún en el caso de que no hubiera restricciones para la pesca.

Informe de la primera sesión del panel internacional de expertos para evaluación de la población de la merluza peruana. Marzo 2003

Presentan los resultados del trabajo del panel siguiendo la secuencia establecida en los términos de referencia: estimar el estatus del stock de la merluza peruana, Proveer proyecciones del rendimiento y desarrollo del stock, bajo un escenario pesquero apropiado para el stock de la merluza peruana, comentar sobre medidas administrativas apropiadas de corto y mediano plazo, para la merluza peruana.

Informe de la segunda sesión del panel internacional de expertos para evaluación de la población de la merluza peruana. Marzo 2004

Evalua los resultados del trabajo del Panel de acuerdo con los términos de referencia: actualizar la evaluación y estimar el estatus del stock de la merluza peruana, evaluar el stock desovante y la ojiva de madurez, proponer una cuota para el año 2004, revisar los datos de los cruceros para determinar si existe merluza fuera del área geográfica muestreada, proveer proyecciones del rendimiento y desarrollo del stock bajo esquemas pesqueros apropiados para la merluza peruana.

Institutional support of the firm: A theory of business registries

Registering originative business contracts allows entrepreneurs and creditors to choose, andcourts to enforce market-friendly contract rules that protect innocent third parties whenadjudicating disputes on subsequent contracts. This reduces information asymmetry for thirdparties, which enhances impersonal trade. It does so without seriously weakening property rights,because it is rightholders who choose or activate the legal rules and can, therefore, minimize thecost of any possible weakening. Registries are essential not only to make the chosen rules publicbut to ensure rightholders commitment and avoid rule-gaming, because independent registriesmake rightholders choices verifiable by courts. The theory is supported by comparative andhistorical analyses.

Firm investment in imperfect capital markets: A structural estimation

We set up a dynamic model of firm investment in which liquidity constraintsenter explicity into the firm's maximization problem. The optimal policyrules are incorporated into a maximum likelihood procedure which estimatesthe structural parameters of the model. Investment is positively related tothe firm's internal financial position when the firm is relatively poor. This relationship disappears for wealthy firms, which can reach theirdesired level of investment. Borrowing is an increasing function of financial position for poor firms. This relationship is reversed as a firm's financial position improves, and large firms hold little debt.Liquidity constrained firms may be unused credits lines and the capacity toinvest further if they desire. However the fear that liquidity constraintswill become binding in the future induces them to invest only when internalresources increase.We estimate the structural parameters of the model and use them to quantifythe importance of liquidity constraints on firms' investment. We find thatliquidity constraints matter significantly for the investment decisions of firms. If firms can finance investment by issuing fresh equity, rather than with internal funds or debt, average capital stock is almost 35% higher overa period of 20 years. Transitory shocks to internal funds have a sustained effect on the capital stock. This effect lasts for several periods and ismore persistent for small firms than for large firms. A 10% negative shock to firm fundamentals reduces the capital stock of firms which face liquidityconstraints by almost 8% over a period as opposed to only 3.5% for firms which do not face these constraints.

V panel internacional de expertos en evaluación de la Anchoveta Peruana (Engraulis ringens Jenyns)

Estudia la información sobre los procesos biológicos de la anchoveta y su dinámica poblacional frente a la variabilidad ambiental, en el marco de un enfoque ecosistémico, que permita caracterizar el rol actual de la anchoveta en el Ecosistema de Afloramiento frente al Perú, proporcionando mayores elementos para el desarrollo sustentable de su pesquería.

Inflation and output dynamics with firm-owned capital

We model firm-owned capital in a stochastic dynamic New-Keynesian generalequilibrium model à la Calvo. We find that this structure impliesequilibrium dynamics which are quantitatively di¤erent from the onesassociated with a benchmark case where households accumulate capital andrent it to firms. Our findings therefore stress the importance ofmodeling an investment decision at the firm level in addition to ameaningful price setting decision. Along the way we argue that the problemof modeling firm-owned capital with Calvo price-setting has not been solvedin a correct way in the previous literature.

Convergence in panel data: Evidence from the skipping estimation

This paper demonstrates that, unlike what the conventional wisdom says, measurement error biases in panel data estimation of convergence using OLS with fixed effects are huge, not trivial. It does so by way of the "skipping estimation"': taking data from every m years of the sample (where m is an integer greater than or equal to 2), as opposed to every single year. It is shown that the estimated speed of convergence from the OLS with fixed effects is biased upwards by as much as 7 to 15%.

Downsizing, job insecurity and firm reputation

This paper studies how firms make layoff decisions in the presence of adverse shocks. In this uncertain environment, workers' expectations about their job security affect their on-the-job performance. This productivity effect on job insecurity forces firms to strike a balance between laying off redundant workers and maintaining survivors' commitment when deciding on the amount and timing of downsizing. This framework offers an explanation of conservative employment practices (such as zero or reduced layoffs) based on firms having private information about their future profits. High retention rates and wages can signal that the firm has a bright future, boosting workers' confidence. Moreover, the model provides clear predictions about when waves of downsizing will occur as opposed to one-time massive cuts.