Price linkages in pharmaceutical markets

This paper studies the existing price linkage between generics and branded pharmaceuticals, in which the generic price must be a fraction of the latter. Using a vertical differentiation model, we look at the market equilibrium, the effects on the incentives for the brand producer to develop new products, and the possibility of predation by the brand producer over the generic firm. We find that the price linkage increases prices compared to no indexation and it may increase the incentives for the brand producer to expand its set of products. When prices are freely set, the branded firm may also want to expand a new product with a higher quality, but will prefer to remove the original one from the market. Predation may equally occur in both schemes but the price linkage may give fewer incentives for the branded firm to predate while compensating losses with a new drug.

Indexed versus nominal government debt under inflation and price-level targeting

This paper presents a DSGE model in which long run inflation risk matters for social welfare. Optimal indexation of long-term government debt is studied under two monetary policy regimes: inflation targeting (IT) and price-level targeting (PT). Under IT, full indexation is optimal because long run inflation risk is substantial due to base-level drift, making indexed bonds a much better store of value than nominal bonds. Under PT, where long run inflation risk is largely eliminated, optimal indexation is substantially lower because nominal bonds become a better store of value relative to indexed bonds. These results are robust to the PT target horizon, imperfect credibility of PT and model calibration, but the assumption that indexation is lagged is crucial. From a policy perspective, a key finding is that accounting for optimal indexation has important welfare implications for comparisons of IT and PT.

Anàlisi multidisciplinària de la vulnerabilitat a la contaminació de les aigües subterrànies: la conca de l'Onyar (Gironès)

En el present projecte s’ha emprat la metodologia DRASTIC per evaluar la vulnerabilitat a la contaminació de les aigües subterrànies de la conca de l’Onyar. El fet de ser una zona de tradició agrícola i ramadera i amb un creixement urbanístic significatiu, la fa ser una zona de gran interès per l’estudi de la vulnerabilitat. Després d’obtenir l’índex DRASTIC s’ha realitzat una campanya al mes de maig de 2011 per analitzar les concentracions de nitrats a la zona per validar l’estudi. Conjuntament amb el mapa d’usos del sòl i la informació de la localització de les depuradores més properes, s’han comparat els resultats d’ambdós mapes. L’anàlisi dels resultats obtinguts ha permès comprovar que la metodologia dóna bons resultats quan s’analitza la vulnerabilitat a nivell de conca. A més a més, utensilis de fàcil abast aporten informació sobre el perill de contaminació, ajudant a la validació del mètode.

Measurement of glomerular filtration rate in obese patients: pitfalls and potential consequences on drug therapy.

Epidemiological studies have shown that obesity is associated with chronic kidney disease and end stage renal disease. These studies have used creatinine derived equations to estimate glomerular filtration rate (GFR) and have indexed GFR to body surface area (BSA). However, the use of equations using creatinine as a surrogate marker of glomerular filtration and the indexation of GFR for BSA can be questioned in the obese population. First, these equations lack precision when they are compared to gold standard GFR measurements such as inulin clearances; secondly, the indexation of GFR for 1.73 m(2) of BSA leads to a systematic underestimation of GFR compared to absolute GFR in obese patients who have BSA that usually exceed 1.73 m(2). Obesity is also associated with pathophysiological changes that can affect the pharmacokinetics of drugs. The effect of obesity on both renal function and drug pharmacokinetics raises the issue of correct drug dosage in obese individuals. This may be particularly relevant for drugs known to have a narrow therapeutic range or excreted by the kidney.

Which inflation to target? A small open economy with sticky wages indexed to past inflation

In a closed economy context there is common agreement on price inflation stabilization being one of the objects of monetary policy. Moving to an open economy context gives rise to the coexistence of two measures of inflation: domestic inflation (DI) and consumer price inflation (CPI). Which one of the two measures should be the target variable? This is the question addressed in this paper. In particular, I use a small open economy model to show that once sticky wages indexed to past CPI inflation are introduced, a complete inward looking monetary policy is no more optimal. I first, derive a loss function from a secondorder approximation of the utility function and then, I compute the fully optimalmonetary policy under commitment. Then, I use the optimal monetary policy as a benchmark to compare the performance of different monetary policy rules. The main result is that once a positive degree of indexation is introduced in the model the rule performing better (among the Taylor type rules considered) is the one targeting wage inflation and CPI inflation. Moreover this rule delivers results very close to the one obtained under the fully optimal monetary policy with commitment.

Intangible Capital: four years of growth as an open-access scientific publication

Con este nuevo número, la revista Intangible Capital, inicia el cuarto volumen avanzando hacia el quinto año de publicación. Como ya es tradición en la revista, iniciamos este nuevo volumen evaluando el anterior y presentando las nuevas direcciones. Como principales aportaciones del 2007, se destacan hechos relevantes como la renovación de convenios para la indexación científica de la revista, el cambio de plataforma a OJS, la inclusión de un nuevo editor, la nueva composición del editorial board, el equipo de revisores, el cambio a un modelo bilingüe de revista, la nueva financiación obtenida y el trabajo que estamos realizando gran número de editores científicos de acceso abierto en España para el reconocimiento por parte de la Comisión Nacional Evaluadora de la Actividad Investigadora.This issue opens the fourth volume of the Intangible Capital journal, which makes its way towards the fifth year of publication. As usually, we start this volume by evaluating the previous one and tracing new directions. Among the main contributions during the year 2007, we consider important to highlight the following aspects: the renewal of the scientific indexation agreements, the platform change to OJS, the appointment of a new editor, new members included in the editorial board, the board of reviewers, the change towards a bilingual model, the new financing obtained and, the last but not the least, the work undertaken together with many scientific editors of open access Spanish journals for obtaining the positive evaluation of the CNEAI (National Commission for the Evaluation of the Research Activity) and thus, being a proof of scientific excellence

Veille bibliographique sur la surveillance biologique de l'exposition aux produits chimiques en milieu de travail : mise en place d'un réseau francophone multidisciplinaire

L'article présente les étapes de la mise en place d'une veille bibliographique (ou veille scientifique) thématique effectuée conjointement depuis 2005 par 4 institutions francophones du domaine de la santé au travail : l'INRS (France), l'IRSST (Québec), l'IST (Suisse) et l'UCL (Belgique).La thématique suivie est celle de la surveillance biologique de l'exposition aux produits chimiques en milieu de travail. Les données recueillies et mises en forme par les documentalistes servent aux chercheurs spécialistes du sujet non seulement pour suivre les nouveautés du domaine, mais aussi pour documenter des cours et mettre à jour des guides de surveillance biologique. Les différentes étapes de l'approche méthodologique du projet sont décrites : le choix des bases de données à interroger et la mise au point de la stratégie de recherche, la mise en place d'une procédure de partage des tâches pour toutes les étapes du processus de veille qui se répètent à chaque mise à jour (interrogation, création de bases de données avec le logiciel Reference Manager, mise en forme et indexation des références, création et mise à disposition des partenaires des bases de données consolidées au fil du temps avec tous les articles analysés), les moyens administratifs, humains et techniques d'échange de fichiers et les essais pour élargir la veille à la surveillance de pages Web sélectionnées.Un bilan chiffré des six années de la veille est également donné.L'information récoltée et analysée durant les deux dernières années par les partenaires du projet fera l'objet d'un second article axé sur les principales tendances de la thématique choisie.

Is it appropriate to index glomerular filtration rate for body surface area

Purpose: Obesity is an established independent risk factor for chronic kidney disease. Thus, measurement of glomerular filtration rate (GFR) is important in this population. Traditionally, GFR has been indexed for body surface area (BSA), but this indexation may not be appropriate in obese individuals. Therefore, the objective of the study was to compare absolute GFR with GFR indexed for BSA and with GFR indexed for height. Methods and materials: The study was conducted in 66 families from the Seychelles islands that included several members with hypertension. GFR and effective renal plasma flow (ERPF) were measured using inulin and PAH clearances, respectively. Antihypertensive treatment, if used, was withheld 2 weeks before conducting the clearances. Participants with diabetes mellitus were excluded from the analysis. BSA was calculated using the Dubois formula. We assessed trend across BMI categories using a non parametric test. Results: Participants included 174 women and 127 men. The prevalence of hypertension was 61%, of which 68% were treated. The table shows that absolute GFR, GFR indexed for height, ERPF, filtration fraction were significantly higher across BMI categories. When GFR was indexed for BSA, the association between GFR and BMI categories was lost. Conclusion: Indexing GFR for BSA in overweight and obese individuals leads to a substantial underestimation of GFR. Filtration fraction, which does not depend on BSA, is higher in obese individuals, which suggests glomerular hyperfiltration. Indexing GFR for BSA therefore would mask the underlying glomerular hyperfiltration. As the number of nephrons does not increase with weight gain, absolute GFR represents a better marker of single nephron GFR and is more appropriate.

La veille bibliographique. Partie 2, Un élément de surveillance

Cet article est la seconde partie d'une série de quatre consacrée aux résultats d'une veille bibliographique sur la surveillance biologique de l'exposition aux produits chimiques en milieu de travail (SBEPC MT). Alors que la précédente partie présentait les objectifs et l'organisation de la veille, cette partie ainsi que la partie 3 vont donc présenter une vue d'ensemble de la base de données en fonction de l'indexation des articles analysés par différents mots clés.

Persistência inflacionária e curva de Phillips novo-keynesiana para o Brasil

Inflation persistence and new Keynesian Phillips curves for Brazil. In this paper is shown that sustainable inflation persistence has theoretical support not only due price indexation, but also because of micro-foundations based on assumptions of Simon's bounded rationality and because of persistent mark-up shocks. the new keynesian phillips curve, estimated for brazil for the period 2000/2008, and the partial coefficients of determination for moving sub-periods of 36 months identifies inflation persistence as the main determinant of inflation, with the capacity gap presenting larger importance only in the end of the sample period. Inflation persistence requires harder monetary policy when neither accommodation is acceptable nor complementary policies in order to reduce it, such as the minimization of indexation mechanisms and control of the market power, are adopted.

A persistência da indexação no Brasil pós-Real

The paper analyzes the shortcomings of the Real Plan combining political science and economics, considering evidences on difficulties in implementing a complete plan of deindexation, namely: the distributional conflict, the corporatist relations between the State and society and the bureaucratic isolation of a highly specialized technocracy. The announcement of the plan triggered defensive reactions, fueling distributive tensions during the URV period, forcing the economic team to take measures that contradicted the overall guidelines followed. The persistence of indexation mechanisms indicate the resulting obstacles in seeking a reform of the State through a stabilization plan, even though the latter has the former as a precondition.

Why Have Aggregate Skilled Hours Become So Cyclical Since the Mid-1980's?

This paper documents and discusses a dramatic change in the cyclical behavior of aggregate hours worked by individuals with a college degree (skilled workers) since the mid-1980’s. Using the CPS outgoing rotation data set for the period 1979:1-2003:4, we find that the volatility of aggregate skilled hours relative to the volatility of GDP has nearly tripled since 1984. In contrast, the cyclical properties of unskilled hours have remained essentially unchanged. We evaluate the extent to which a simple supply/demand model for skilled and unskilled labor with capital-skill complementarity in production can help explain this stylized fact. Within this framework, we identify three effects which would lead to an increase in the relative volatility of skilled hours: (i) a reduction in the degree of capital-skill complementarity, (ii) a reduction in the absolute volatility of GDP (and unskilled hours), and (iii) an increase in the level of capital equipment relative to skilled labor. We provide empirical evidence in support of each of these effects. Our conclusion is that these three mechanisms can jointly explain about sixty percent of the observed increase in the relative volatility of skilled labor. The reduction in the degree of capital-skill complementarity contributes the most to this result.

La mobilite internationale des facteurs de production en situation de chomage et de libre-echange commercial: une revue de la problematique.

Cet article fait un recensement des analyses theoriques et empiriques concernant les effets possibles de la mobilite internationale des facteurs de production. les resultats et les recommendations du modele de base sont etablis quand prevalent le plein-emploi et l'ajustement complet des marches. les resultats des diverses analyses, dans un contexte de chomage structurel, sont ensuite identifies.

La Bible coulée dans le rock. Fragmentation et reconstruction du texte biblique dans la musique rock

Dans ses entretiens, George Steiner considère la musique rock et le heavy metal comme l’espéranto international des jeunes de notre époque (Steiner, Entretiens, p. 91). Or, cet espéranto porte une dimension religieuse manifeste, entre autres à travers l’usage fréquent d’images et de textes bibliques souvent passés au broyeur des guitares et des voix vociférantes. On peut se demander quelles figures construisent les fragments qui en résultent, souvent irrévérencieux voire scandaleux pour plusieurs. À travers les violences que le rock et surtout le métal infligent au texte biblique, faut-il voir des attaques contre la Bible et contre Dieu, comme le croient plusieurs chrétiens, ou, au contraire, un respect profond de la dynamique de ce texte et un usage légitime de celui-ci ? Davantage portée par la seconde hypothèse, ce texte vise à identifier les usages et les fonctions religieuses de la Bible dans la musique rock.