Inequality over the business cycle: Estimating income risk using micro-data on consumption

We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increased income inequality in the 1980s and 90s. We decompose unexpected changes in family income into transitory and permanent, and idiosyncratic and aggregate components, and estimate the contribution of each component to total inequality. The model we use is a linearized incomplete markets model, enriched to incorporate risk-sharing while maintaining tractability. Our estimates suggest that taking risk sharing into account is important for the model fit; that the increase in inequality in the 1980s was mainly permanent; and that inequality is driven almost entirely by idiosyncratic income risk. In addition we find no evidence for cyclical behavior of consumption risk, casting doubt on Constantinides and Duffie s (1995) explanation for the equity premium puzzle.

Creative accounting: Some ethical issues of macro- and micro-manipulation

This paper examines two principal categories of manipulative behaviour. The term'macro-manipulation' is used to describe the lobbying of regulators to persuadethem to produce regulation that is more favourable to the interests of preparers.'Micro-manipulation' describes the management of accounting figures to produce abiased view at the entity level. Both categories of manipulation can be viewed asattempts at creativity by financial statement preparers. The paper analyses twocases of manipulation which are considered in an ethical context. The paperconcludes that the manipulations described in it can be regarded as morallyreprehensible. They are not fair to users, they involve an unjust exercise ofpower, and they tend to weaken the authority of accounting regulators.

Phenetic, biogeographical, and evolutionary study ofOrnithogalum subg.Heliocharmos (Hyacinthaceae) in the western Mediterranean basin

A macromorphological study is made on taxa of the genusOrnithogalum subg.Heliocharmos in North Africa, Spain, and France. The results obtained are consistent with data from cytogenetics, reproductive biology and strategies of reproduction. They allow the retention of two species:O. algeriense and O. umbellatum. A biogeographical and phylogenetic interpretation of the subgenus is proposed for the western Mediterranean. Theoretical views on phenetics are discussed.

ClubMed? Cyclical fluctuations in the Mediterranean basin

We investigate macroeconomic fluctuations in the Mediterranean basin, their similarities and convergence. A model with four indicators, roughly covering theWest, the East and the Middle East and the North Africa portions of theMediterranean, characterizes well the historical experience since the early 1980.Idiosyncratic causes still dominate domestic cyclical fluctuations in many countries. Convergence and divergence coexist are local and transitory. The cyclicaloutlook for the next few years is rosier for the East than for the West.

MICRO CRÉDITO EM CABO VERDE PAPEL DO MICRO-CRÉDITO NO COMBATE A POBREZA EM SANTA CATARINA

O funcionamento do sistema financeiro tradicional leva à exclusão de determinadas categorias como é o caso das populações de baixo rendimento. A intervenção pública, por meio dos bancos comerciais, acaba não resolvendo o problema, tanto por questões de alcance como de eficiência. O micro-crédito surgiu no mundo como uma tentativa de eliminar a pobreza pelo acesso ao crédito, recorrendo a estratégias descentralizadas de financiamento. O micro-crédito depois de várias experiências internacionais chegou a Cabo Verde, com o objectivo de promover a inserção socio-económico da mulher, com especial realce, mulheres do meio rural. Este trabalho procura delinear as principais instituições que concede o micro-crédito, como se processa o seu financiamento e o seu impacto no combate à pobreza. Se conclui que, o micro-crédito tem forte impacto na economia Cabo-Verdiana, na medida em que, para além de poder gerar riquezas individuais e para o país contribui de uma forma estratégica, política, socio-económico para o desenvolvimento, de realçar, a luta contra a pobreza.

On the spread of the European catfish (Silurus glanis) in the Iberian Peninsula: first record in the Llobregat river basin

The first record of the European catfish (Silurus glanis L. 1758) introduced to the Llobregat river basin (NE Spain) is reported. We captured one individual of this silurid fish species (of a total of 541 fish) in La Baells reservoir on 30 August 2006. Given the low catchability of this fish species, the popularity among some anglers, and old rumours on this introduction, we hypothesize that this species has been present in the reservoir since a few years ago, despite we did not capture it in two previous surveys. The illegal introduction of this and other exotic species to other Iberian river basins should be prevented by the Spanish administration

Checklist of Ephemeroptera (Insecta) from São Mateus River Basin, Espírito Santo, Brazil

ABSTRACTIn order to expand the knowledge on the composition of Ephemeroptera from large rivers, we present, herein, the first survey of mayflies from the São Mateus River Basin, Espírito Santo State. Adults were collected biannually in 2012 and 2013 with the aid of Pennsylvania light trap in eleven points distributed in the main river of the river basin, São Mateus River and its two main tributaries, Cotaxé River (Braço Norte) and Cricaré River (Braço Sul). Thirty-three species were identified (22 nominal and 11 morphospecies) in 24 genera and five families. One genus and one species are reported for the first time from Brazil, three species from Southeastern Region of Brazil, and two species from the state. Five species and one genus not previously described were also found. Moreover, around 20% of the known species of mayfly registered from the state were found. This work reinforces the need to give more attention to research on large rivers due to the high potential for diversity, not only for Ephemeroptera, but also for other aquatic insects.

Promoció de sistemes micro-eòlics i desenvolupament de capacitats en energia renovable en països en desenvolupament

Informe final del projecte realitzat per al Centre de Cooperació per al Desenvolupament de la UPC.

Micro-insurance through corporate-NGO partnerships in West Bengal : opportunities and constraints

This Practical Note examines the nascent micro-insurance sector in West Bengal, paying particular attention to the corporate- NGO partnership model for micro-insurance distribution,which has been enabled by India's unique regulatory framework. We challenge the popularconstruction of this model as a 'win - win' for all parties by analysing conflicting understandings of micro-insurance schemes and their purposes by insurance companies, NGOs, and poorvillagers. The article also considers the role of the specific political context of West Bengal inconstricting corporate- NGO micro-insurance

Proposta metodológica para ensino de micro-biologia do solo

A conseqüência mais interessante de inserir pesquisa no ambiente de atividade educacional é a assimilação do conceito de conhecimento como uma construção teórica compartilhada pela comunidade científica. A idéia de conhecimento temporário e subjetivo deve ser desenvolvida na sala de aula. Mas, como um problema pode ser criado durante o desenvolvimento do conteúdo? Em Microbiologia Agrícola da Faculdade de Ciências Agropecuárias (Universidad Nacional de Entre Ríos), foi desenvolvido um trabalho de grupo durante cinco anos. Este trabalho foi caracterizado pelo princípio metodológico da resolução de problemas para auxiliar o processo de aprendizagem. Na sala de aula, os professores coordenaram as atividades e os estudantes desenvolveram e projetaram a experiência, baseando-se nos problemas levantados para obter resultados. Depois de analisados e discutidos, verificou-se que novos problemas e questões surgiram. Este método foi avaliado por meio de entrevista com os alunos leva a crer que sua utilização em sala de aula, tenha tornado a aprendizagem mais significativa.