When is Monetary Policy All we Need?

We consider optimal monetary and scal policies in a New Keynesian model of a small open economy with sticky prices and wages. In this benchmark setting monetary policy is all we need - analytical results demonstrate that variations in government spending should play no role in the stabilization of shocks. In extensions we show, rstly, that this is even when true when allowing for in ation inertia through backward-looking rule-of-thumb price and wage-setting, as long as there is no discrepancy between the private and social evaluation of the marginal rate of substitution between consumption and leisure. Secondly, the optimal neutrality of government spending is robust to the issuance of public debt. In the presence of debt government spending will deviate from the optimal steady-state but only to the extent required to cover the deficit, not to provide any additional macroeconomic stabilization. However, unlike government spending variations in tax rates can play a complementary role to monetary policy, as they change relative prices rather than demand.

Lovemarks: lealtad más allá de la razón

El present treball és un estudi a nivell global i individual sobre marques, i especialment les lovemarks, i els diferents vincles emocionals que motiven i impulsen el culte de determinats béns i serveis. L’estudi està enfocat a dos nivells: el del consumidor i el dels planificadors estratègics de marca.

Más allá de los blogs personales: el periodismo participativo en la prensa electrónica

La irrupció d’Internet i les Noves Tecnologies, juntament amb una sèrie de factors socials, polítics i econòmics, han redefinit la clàssica relació unidireccional entre els mitjans i les seves audiències. En aquest context de democratització informativa, el tradicional monopoli dels mitjans ha desaparegut en pro d’un accés i una participació més gran dels lectors a la informació. Aquesta nova modalitat periodística, denominada Periodisme Participatiu o 2.0, promou tota una sèrie de canals o vies de comunicació -xats, fòrums, enquestes, entrevistes, lectors informadors etc.- que ofereixen a l’usuari la possibilitat de convertir-se en receptors i emissors de les noticies alhora. Aquesta intervenció activa de les audiències en el procés informatiu ha alterat, irremediablement, els patrons de consum informatiu i la naturalesa del periodisme tradicional

Minu, Startu and all that:- Pitfalls in estimating the sensitivity of a worker’s wage to aggregate unemployment

In this paper we show that the inclusion of unemployment-tenure interaction variates in Mincer wage equations is subject to serious pitfalls. These variates were designed to test whether or not the sensitivity to the business cycle of a worker’s wage varies according to her tenure. We show that three canonical variates used in the literature - the minimum unemployment rate during a worker’s time at the firm(min u), the unemployment rate at the start of her tenure(Su) and the current unemployment rate interacted with a new hire dummy(δu) - can all be significant and "correctly" signed even when each worker in the firm receives the same wage, regardless of tenure (equal treatment). In matched data the problem can be resolved by the inclusion in the panel of firm-year interaction dummies. In unmatched data where this is not possible, we propose a solution for min u and Su based on Solon, Barsky and Parker’s(1994) two step method. This method is sub-optimal because it ignores a large amount of cross tenure variation in average wages and is only valid when the scaled covariances of firm wages and firm employment are acyclical. Unfortunately δu cannot be identified in unmatched data because a differential wage response to unemployment of new hires and incumbents will appear under both equal treatment and unequal treatment.

Des personnages érigés en narrateurs : les voix over chez Joseph L. Mankiewicz (A Letter to Three Wives, All about Eve et The Barefoot Contessa). Pour une approche énonciative du récit filmique

L'auteur analyse dans une perspective narratologique trois films de Joseph L. Mankiewicz réalisés entre 1949 et 1954 (A Letter to Three Wives, All about Eve et The Barefoot Contessa), afin d'observer les particularités qui résultent du recours à un ou plusieurs narrateurs (ou narratrices) s'exprimant en voix over. L'accent est mis sur les implications de l'organisation énonciative complexe de ces productions cinématographiques en termes de relation du film au spectateur et de représentation des rapports de genre. Ces études de cas permettent de nuancer certains acquis issus du champ des théories de l'énonciation. Dans ces films où les voix over sont proférées par des acteurs qui incarnent par ailleurs un personnage visualisé, certaines interactions sont observables - interprétées notamment comme des relations de pouvoir - entre le statut des narrateurs et le niveau diégétique. La matérialité sonore est prise en compte dans le cas particulier de Letter to Three Wives, où la voix se transforme en bruit. Cet « effet spécial » est l'occasion de discuter un modèle « impersonnel » de l'énonciation filmique qui intègre, tout en tenant compte de la dimension technologique de l'enregistrement sonore, le pouvoir fondamentalement humanisant des manifestations vocales.

Pareto or log-normal? A recursive-truncation approach to the distribution of (all) cities

Traditionally, it is assumed that the population size of cities in a country follows a Pareto distribution. This assumption is typically supported by nding evidence of Zipf's Law. Recent studies question this nding, highlighting that, while the Pareto distribution may t reasonably well when the data is truncated at the upper tail, i.e. for the largest cities of a country, the log-normal distribution may apply when all cities are considered. Moreover, conclusions may be sensitive to the choice of a particular truncation threshold, a yet overlooked issue in the literature. In this paper, then, we reassess the city size distribution in relation to its sensitivity to the choice of truncation point. In particular, we look at US Census data and apply a recursive-truncation approach to estimate Zipf's Law and a non-parametric alternative test where we consider each possible truncation point of the distribution of all cities. Results con rm the sensitivity of results to the truncation point. Moreover, repeating the analysis over simulated data con rms the di culty of distinguishing a Pareto tail from the tail of a log-normal and, in turn, identifying the city size distribution as a false or a weak Pareto law.

(No)competition in the Spanish retailing gasoline market: a variance filter approach

Various methodologies in economic literature have been used to analyse the international hydrocarbon retail sector. Nevertheless at a Spanish level these studies are much more recent and most conclude that generally there is no effective competition present in this market, regardless of the approach used. In this paper, in order to analyse the price levels in the Spanish petrol market, our starting hypothesis is that in uncompetitive markets the prices are higher and the standard deviation is lower. We use weekly retail petrol price data from the ten biggest Spanish cities, and apply Markov chains to fill the missing values for petrol 95 and diesel, and we also employ a variance filter. We conclude that this market demonstrates reduced price dispersion, regardless of brand or city.

Who is the fairest of them all? The independent effect of attractive features and self-perceived attractiveness on cooperation among women

The present paper analyzes the extent to which attractiveness-related variables affect cooperative behavior in women. Cooperativeness is evaluated through a Prisoner's Dilemma Game (PDG). We consider several morphometric variables related to attractiveness: Fluctuating Asymmetry (FA), Waist-Hip Ratio (WHR, Body Mass Index (BMI) and Facial Femininity (FF). These variables have been shown to predict human behavior. We also include as a control variable a score for Self-Perceived Attractiveness (SPA). We test differences in these variables according to behavior in the PDG. Our results reveal that low FA women cooperate less frequently in the PDG. We also find that women with lower WHR are more cooperative. This result contradicts the expected relation between WHR and behavior in the PDG. We show that this effect of WHR on cooperation operates through its influence on the expectation that participants hold on the cooperative intent of their counterpart. In addition, we show that the effect of attractive features on cooperation occurs independently of the participants' perception of their own appeal. Finally, we discuss our results in the context of the evolution of cooperative behavior and under the hypothesis that attractiveness is a reliable indicator of phenotypic quality.

Narraciones más allá del canon. El caso de Leni Riefenstahl

L'objectiu d'aquest treball s'articula dins de l'anàlisi estètic e històric de la concepció del cos humà i del seu cànon a partir del nexe que relaciona, el Classicisme Greco–romà i l'imaginari del Nazisme. En aquest sentit, la producció de Leni Riefenstahl –la mirada del Nacionalsocialisme– es vital per entendre el desenvolupament de tal nexe; i la nostra intenció ha estat articular un discurs intercomunicatiu entre ambdós imaginaris.

Estudos bionômicos de Dipetalogaster maximus (Uhler, 1894) (Hemiptera, Reduviidae, Triatominae): III. Dinâmica populacional

A population dynamics study of D. maximus was caried out under laboratory condictions (28-C e 65% ñ 5% U.R.) and the methodology was the same that have been used for hearing this insects. In order to evaluate the population growth rate of this species, during a 24 months period, five colonies started with a couple recently emerged were observed. Each couple (a male and a female) was mantained in a glass container measuring 20 cm of diameter and 20 cm in height with filter paper on the botton. The insects were monthly feeding with normal mice blood, and at this day the number of eggs, nymphal stages and adults was registered. All graphical representations of the populations growth rate showed the same shape. It was found that the average of nymphal stage represented 64.31% of the hole population whereas the oviposition curved showed to be inverse to this one (28.57%) a small percentage of adults was found: males 3.85% and females 3.12%. In this study observations on the biologycal cycle, longevity and fertility rates were also carried out.