Is it redistribution or centralization? On the determinants of government investment in infrastructure

The dilemma efficiency versus equity, together with political partisan interests, has received increasing attention to explain the territorial allocation of investments. However, centralization intended to introduce or reinforce hierarchization in the political system has not been object as of now of empirical analysis. Our main contribution to the literature is providing evidence that meta-political objectives related to the ordering of political power and administration influence regional investment. In this way, we find evidence that network mode’s (roads and railways) investment programs are influenced by the centralization strategy of investing near to the political capital, while investment effort in no-network modes (airports and ports) appears to be positively related to distance. Since investment in surface transportation infrastructures is much higher than that in airports and ports, and taken into account that regions surrounding the political capital are poorer than the average, we suggest that centralization rather than redistribution has been the driver for the concentration of public investment on these regions.

Les comportements face au VIH/sida des hommes qui ont des relations sexuelles avec des hommes: résultats de Gaysurvey 2007

Gaysurvey est une enquête menée périodiquement en Suisse parmi les hommes qui ont des relations sexuelles avec des hommes (HSH). Elle s'inscrit dans le dispositif de surveillance du VIH, établi par l'Office fédéral de la santé publique, en tant qu'instrument de suivi des comportements face au VIH/sida dans ce groupe-cible. Elle a déjà été réalisée à huit reprises : en 1987, 1990, 1992, 1994, 1997, 2000, 2004, 2007. [...] Elle permet d'établir des tendances temporelles au niveau des pratiques sexuelles et des expositions au risque d'infection par le VIH. Elle permet, en outre, d'approfondir certaines thématiques pertinentes pour le travail de prévention (gestion du risque au sein d'une relation stable, entrée dans la sexualité, etc.). Ce document a pour objectif de faire la synthèse des tendances mises au jour lors de la dernière vague d'enquête, réalisée en 2007. [Introduction p. 4]

Modelling Interbank Relations during the International Financial Crisis

This paper examines the effects of the current financial crisis on the correlations of four international banking stocks. We find that in the beginning of the crisis banks generally show a transition to a higher correlation followed by a dramatic decline towards the end of 2008. These findings are consistent with both traditional contagion theory and the more recent network theory of contagion. JEL classifications: C51; G15 Keywords: Financial Crises; Contagion; Interbank Markets.

Fiscal foresight and the effects of government spending

We study the effects of government spending by using a structural, large dimensional, dynamic factor model. We find that the government spending shock is non-fundamental for the variables commonly used in the structural VAR literature, so that its impulse response functions cannot be consistently estimated by means of a VAR. Government spending raises both consumption and investment, with no evidence of crowding out. The impact multiplier is 1.7 and the long run multiplier is 0.6.

Tax evasion, technology shocks, and the cyclicality of government revenues

This paper analyzes the behavior of the tax revenue to output ratio over the business cycle. In order to replicate the empirical evidence, we develop a simple model combining the standard Ak growth model with the tax evasion phenomenon. When individuals conceal part of their true income from the tax authority, they face the risk of being audited and hence of paying the corresponding fine. Under the empirically plausible assumptions that the intertemporal elasticity of substitution exhibits a sufficiently small value and that productivity shocks are serially correlated, we show that the elasticity of government revenue with respect to output is larger than one, which agrees with the empirical evidence. This result holds even if the tax system displays flat tax rates. We extend the previous setup to generate larger fiscal deficits when the economy experiences a recession.

Isomorphism relations on computable structures

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