The determinants of IMF fiscal conditionalities: economics or politics?

Conditionalites, measures that a borrowing country should adopt to obtain loans from the IMF, are pervasive in IMF programs. This paper estimates the effects of political and economic factors on the number of conditionalities and on the fiscal adjustment requested by the IMF. As found in the literature, political proximity of the borrowing country to the Fund’s major shareholders has an important effect on the number of conditions in an agreement. However, the fiscal adjusment requested by the IMF is strongly affected by the size of a country’s fiscal deficit but not by political proximity. We also find a very small correlation between the number of conditions and the fiscal adjustment requested by the IMF

Law and economics in the civil law world: the case of Brazilian Courts

Conventional wisdom holds that economic analysis of law is either embryonic or nonexistent outside of the United States generally and in civil law jurisdictions in particular. Existing explanations for the assumed lack of interest in the application of economic reasoning to legal problems range from the different structure of legal education and academia outside of the United States to the peculiar characteristics of civilian legal systems. This paper challenges this view by documenting and explaining the growing use of economic reasoning by Brazilian courts. We argue that, given the ever-greater role of courts in the formulation of public policies, the application of legal principles and rules increasingly calls for a theory of human behavior (such as that provided by economics) to help foresee the likely aggregate consequences of different interpretations of the law. Consistent with the traditional role of civilian legal scholarship in providing guidance for the application of law by courts, the further development of law and economics in Brazil is therefore likely to be mostly driven by judicial demand.

The economics of wage-led recovery: analysis and policy recommendations

The financial crisis and Great Recession have been followed by a jobs shortage crisis that most forecasts predict will persist for years given current policies. This paper argues for a wage-led recovery and growth program which is the only way to remedy the deep causes of the crisis and escape the jobs crisis. Such a program is the polar opposite of the current policy orthodoxy, showing how much is at stake. Winning the argument for wage-led recovery will require winning the war of ideas about economics that has its roots going back to Keynes’ challenge of classical macroeconomics in the 1920s and 1930s. That will involve showing how the financial crisis and Great Recession were the ultimate result of three decades of neoliberal policy, which produced wage stagnation by severing the wage productivity growth link and made asset price inflation and debt the engine of demand growth in place of wages; showing how wage-led policy resolves the current problem of global demand shortage without pricing out labor; and developing a detailed set of policy proposals that flow from these understandings. The essence of a wage-led policy approach is to rebuild the link between wages and productivity growth, combined with expansionary macroeconomic policy that fills the current demand shortfall so as to push the economy on to a recovery path. Both sets of measures are necessary. Expansionary macro policy (i.e. fiscal stimulus and easy monetary policy) without rebuilding the wage mechanism will not produce sustainable recovery and may end in fiscal crisis. Rebuilding the wage mechanism without expansionary macro policy is likely to leave the economy stuck in the orbit of stagnation.

Spatial spillovers and political coordination in public health provision

We estimate the impact of the main unconditional federal grant (Fundo de Participaçãodos Municípios - FPM) to Brazilian municipalities as well as its spillover from the neighboring cities on local health outcomes. We consider data from 2002 to 2007 (Brollo et al, 2013) and explore the FPM distribution rule according to population brackets to apply a fuzzy Regression Discontinuity Design (RDD) using cities near the thresholds. In elasticity terms, we nd a reduction on infant mortality rate (-0.18) and on morbidity rate (- 0.41), except in the largest cities of our sample. We also nd an increase on the access to the main program of visiting the vulnerable families, the Family Health Program (Programa Sa ude da Família - PSF). The e ects are stronger for the smallest cities of our sample and we nd increase: (i) On the percentage of residents enrolled in the program (0.36), (ii) On the per capita number of PSF visits (1.59), and (iii) On the per capita number of PSF visits with a doctor (1.8) and nurse (2). After we control for the FPM spillover using neighboring cities near diferent thresholds, our results show that the reduction in morbidity and mortality is largely due to the spillover e ect, but there are negative spillover on preventive actions, as PSF doctors visits and vaccination. Finally, the negative spillover e ect on health resources may be due free riding or political coordination problems, as in the case of the number of hospital beds, but also due to to competition for health professionals, as in the case of number of doctors (-0.35 and -0.87, respectively), specially general practitioners and surgeons (-1.84 and -2.45).

The position effect of structural Eucalyptus round timber on the flexural modulus of elasticity

A madeira roliça possui grande emprego nas construções civis, desempenhando a função de vigas, colunas, fundações, postes para distribuição de energia elétrica, entre outras, apresentando a vantagem de não ser processada, como é o caso da madeira serrada. O projeto envolvendo elementos roliços requer, além de outras variáveis estruturais, o conhecimento do módulo de elasticidade. No Brasil, os documentos normativos que tratam da determinação das propriedades de rigidez e resistência para peças roliças de madeira estão em vigência há mais de vinte anos sem revisão técnica. A madeira roliça, por geralmente possuir eixo com curvatura não nula, pode apresentar, segundo a posição da peça no ensaio de flexão, valores diferentes do módulo de elasticidade. Este trabalho tem como objetivo analisara influência da posição de peças roliças de madeira de Eucalyptus grandis na determinação do módulo de elasticidade na flexão. O ensaio de flexão utilizado é o de três pontos, sendo cada peça avaliada em duas posições distintas, definidas mediante o giro da seção transversal em torno do eixo. Os resultados encontrados indicam a necessidade do ensaio de flexão em, pelo menos, duas posições distintas da peça.

Effect of thermocycling on bond strength and elasticity of 4 long-term soft denture liners

Statement of problem. Two problems found in prostheses with soft liners are bond failure to the acrylic resin base and loss of elasticity due to material aging.Purpose. This in vitro study evaluated the effect of thermocycling on the bond strength and elasticity of 4 long-term soft denture liners to acrylic resin bases.Material and methods. Four soft lining materials (Molloplast-B, Flexor, Permasoft, and Pro Tech) and 2 acrylic resins (Classico, and Lucitone 199) were processed for testing according to manufacturers' instructions. Twenty rectangular specimens (10 X 10-mm(2) cross-sectional area) and twenty cylinder specimens (12.7-mm diameter X 19.0-mm height) for each liner/resin combination were used for the tensile and deformation tests, respectively. Specimen shape and liner thickness were standardized. Samples were divided into a test group that was thermocycled 3000 times and a control group that was stored for 24 hours in water at 37degreesC. Mean bond strength, expressed in megapascals (Wa), was determined in the tensile test with the use of a universal testing machine at a crosshead speed of 5 mm/min. Elasticity, expressed as percent of permanent deformation, was calculated with an instrument for measuring permanent deformation described in ADA/ANSI specification 18. Data from both tests were examined with 1-way analysis of variance and a Tukey test, with calculation of a Scheffe interval at a 95% confidence level.Results. In the tensile test under control conditions, Molloplast-B (1.51 +/- 0.28 MPa [mean SD]) and Pro Tech (1.44 +/- 0.27 MPa) liners had higher bond strength values than the others (P < .05). With regard to the permanent deformation test, the lowest values were observed for Molloplast-B (0.48% +/- 0.19%) and Flexor (0.44% +/- 0.14%) (P < .05). Under thermocycling conditions, the highest bond strength occurred with Molloplast-B (1.37 +/- 0.24 MPa) (P < .05) With regard to the deformation test, Flexor (0.46% +/- 0.13%) and Molloplast-B (0.44% +/- 0.17%) liners had lower deformation values than the others (P < .05).Conclusion. The results of this in vitro study indicated that bond strength and permanent deformity values of the 4 soft denture liners tested varied according to their chemical composition. These tests are not completely valid for application to dental restorations because the forces they encounter are more closely related to shear and tear. However, the above protocol serves as a good method of investigation to evaluate differences between thermocycled and control groups.

THEORY OF ELASTICITY OF THE ABRIKOSOV FLUX-LINE LATTICE FOR UNIAXIAL SUPERCONDUCTORS - PARALLEL FLUX LINES

In this paper, we consider the extension of the Brandt theory of elasticity of the Abrikosov flux-line lattice for a uniaxial superconductor for the case of parallel flux lines. The results show that the effect of the anisotropy is to rescale the components of the wave vector k and the magnetic field and order-parameter wave vector cut off by a geometrical parameter previously introduced by Kogan.

Influence of Wood Moisture Content on the Modulus of Elasticity in Compression Parallel to the Grain

Brazilian Standard ABNT NBR7190:1997 for timber structures design, adopts a first degree equation to describe the influence of wood moisture content. Periodically, when necessary, the referred standard is revised in order to analyze inconsistencies and to adopt considerations according new realities verified. So, the present paper aims to examine the adequacy of its equation which corrects to 12% of moisture the values of rigidity properties obtained on experimental tests. To quantify the moisture influence on modulus of elasticity, it was applied tests of compression parallel to the grain for six specimens of different strength classes, considering nominal moisture of 12; 20; 25; 30%. As results, modulus of elasticity in the moisture range 25-30% showed statistically equivalents, and was obtained a first degree equation to correlate the studied variables which leads to statically equivalent estimations when compared with results by ABNT NBR7190:1997 equation. However, it was indicated to maintain the current expression for the next text of the referred document review, without prejudice to statistical significance of the estimates.

Economics of climate change in Latin America and the Caribbean: summary 2009

Includes bibliography

The United States and Latin America and the Caribbean: Highlights of economics and trade

Foreword by Alicia Bárcena

Economics of climate change in Latin America and the Caribbean: summary 2010

Spanish version available at the Library

From industrial economics to digital economics: an introduction to the transition

Includes bibliography

Two essays on development economics

Includes bibliography