La evolución reciente de la inversión en Argentina

Resumen: En este trabajo se hace una comparación entre las inversiones que se han llevado a cabo en dos períodos bien marcados en Argentina, a saber, pre crisis y post crisis. El período pre crisis donde la inversión era financiada por el sector externo, se caracteriza por un fuerte crecimiento de la inversión debido al sostenido ingreso de capitales, esto provoca que el país sea muy vulnerable ante cambios adversos en la situación macroeconómica internacional. Opuesto a la etapa anterior, en el período post crisis, la inversión es financiada exclusivamente con reinversión de utilidades y con ahorro interno. Se quiere mostrar con esto que el crecimiento no es sostenible si solo se asienta en el consumo, el rol de la inversión es fundamental tanto en la sustentabilidad de la tasa de crecimiento como en la dinámica de los precios. Ignorar su importancia condena a la sociedad a la pobreza.

Does the Term Spread play a role in the FED's reaction function? An Empirical Investigation

Using US data for the period 1967:5-2002:4, this paper empirically investigates the performance of a Fed’s reaction function (FRF) that (i) allows for the presence of switching regimes, (ii) considers the long-short term spread in addition to the typical variables, (iii) uses an alternative monthly indicator of general economic activity suggested by Stock and Watson (1999), and (iv) considers interest rate smoothing. The estimation results show the existence of three switching regimes, two characterized by low volatility and the remaining regime by high volatility. Moreover, the scale of the responses of the Federal funds rate to movements in the rate of inflation and the economic activity index depends on the regime. The estimation results also show robust empirical evidence that the importance of the term spread in the FRF has increased over the sample period and the FRF has been more stable during the term of office of Chairman Greenspan than in the pre-Greenspan period.

The role of the term spread in an augmented Taylor rule: An empirical investigation

Using US data for the period 1967:5-2002:4, this paper empirically investigates the performance of an augmented version of the Taylor rule (ATR) that (i) allows for the presence of switching regimes, (ii) considers the long-short term spread in addition to the typical variables, (iii) uses an alternative monthly indicator of general economic activity suggested by Stock and Watson (1999), and (iv) considers interest rate smoothing. The estimation results show the existence of switching regimes, one characterized by low volatility and the other by high volatility. Moreover, the scale of the responses of the Federal funds rate to movements in the term spread, inflation and the economic activity index depend on the regime. The estimation results also show robust empirical evidence that the ATR has been more stable during the term of office of Chairman Greenspan than in the pre-Greenspan period. However, a closer look at the Greenspan period shows the existence of two alternative regimes and that the response of the Fed funds rate to inflation has not been significant during this period once the term spread is considered.

Las iglesias prefeudales en Alava: cronotipología y articulación espacial

[ES]El artículo constituye un avance de un proyecto de investigación en curso sobre las iglesias alavesas anteriores a los siglos XII-XIII,invisibles hasta la fecha a una metodología tradicionalmente de base analógica y formal. Se efectúa una nueva propuesta de análisis experimentada ya en la catedral de Santa María de Vitoria-Gasteiz y que se articula de la manera siguiente: 1. Lettura veloce de los principales momentos constructivos de los templos seleccionados con el objeto de individualizar estratigráficamente la fase o fases anteriores al periodo «románico». 2. Individualización y registro de las variables técnicas y formales más representativas de esta primera fase constructiva en cada una de las iglesias objeto de estudio. 3. Identificación numérica de las variables seleccionadas. 4. Creación de una tabla analítica que recoja la presencia o ausencia de estas variables en cada uno de los edificios a estudiar. 5. Agrupamiento de los edificios que comparten variables entre sí. 6. Transformación de las asociaciones tecnotipológicas en tablas cronotipológicas, es decir, en indicadores cronológicos. Resultado de todo ello ha sido la individualización de seis grupos de iglesias que se articulan diacrónicamente entre los siglos IX y XII. A modo de conclusión se avanzan, finalmente, algunas consideraciones interpretativas sobre la naturaleza de estos templos de época prefeudal.

Dynamics of pneumococcal nasopharyngeal carriage in healthy children attending a day care center in northern Spain. Influence of detection techniques on the results

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La Llanada alavesa en la Antigüedad : Época prerromana y romana

Congreso 750 aniversario de la fundación de la villa de Salvatierra. Ana de Begoña Azcárraga y Henrike Knörr Borras in memorian.

Virgilio Txerribuztangoerrekan. (I. Bukoliken eta Georgiken euskal itzulpenak)

[ES] Las traducciones de los clásicos antiguos empiezan a asomar en la literatura vasca a principios del siglo XIX: su objeto no es, en modo alguno, hacerlos accesibles a un público que de otro modo no podría leerlos, sino servir de ejercicio primero a los traductores y después a los lectores y, a un tiempo y sobre todo, dignificar la literatura vasca con obras de validez universal que, además, no implican la sumisión a ninguna cultura nacional. El que Virgilio haya sido siempre —con excepción del paréntesis romántico— el clásico por excelencia ha hecho que sus traducciones ocupen un lugar sobresaliente también en la historia de las letras vascas: el anónimo autor del manuscrito Melibeo del fondo Bonaparte, Iturriaga, Miangolarra, Arregi, Ibiñagabeitia y Orixe son los autores de esta porción —sin duda la más importante con mucho— del Fortleben vasco de Virgilio. Las traducciones de las Églogas y Geórgicas se analizan aquí desde la perspectiva que imponen la filología y la historia literaria: por un lado, se establecen las bases para, primero, interpretar correctamente dichas traducciones en su calidad de tales y, segundo, situarlas debidamente en el conjunto de la obras de sus autores y, en general, en la historia de la literatura vasca; por otro lado, se presta especial atención a las peculiaridades —notables— que la pervivencia de Virgilio presenta en el País Vasco.

The regulators and the regulated: fisheries management, options and dynamics in Kenya's Lake Victoria fishery

The study divides the history of the fishery into five 'regulatory periods': the pre-colonial fishery (pre-1901), the colonial fishery (1901-1963), the post indipendence fishery (1963-1980), the Nile perch 'boom' years (1980-1989), and finally the fishery in the 1990's. Within each of these periods, the nature of and the relationship between, formal and informal regulations differs and changes with time. In the pre-colonial period, the outcome of formal and informal regulations largely sustained the fishery in a productive and species diverse state. However, at no time since then have formal regulations worked, with the result that the nature of production from the fishery changes over time and is dependent on a number of factors, amongst which the most important are effort level increases, technological introductions, species introductions, changes in regional and national job markets, the change from community-based controls to state-based controls within the fishery, and finally, considerable changes to the fish markets.

Why brush up your Shakespeare and your theory?: an Angela Carter companion to myths

Essa dissertação visa estudar a formação do que veio a ser conhecido como o mito Shakespeariano e sua relação com a produção literária contemporânea, exemplificada pelo romance Wise Children, da romancista inglesa Angela Carter. Tal objetivo pretende ser alcançado por meio uma revisão teórica de elementos relacionados à concepção de mito desenvolvida pelo filósofo francês Roland Barthes, tais quais a concepção tradicional de mito, o Estruturalismo, o Pós-estruturalismo, a crítica ideológica marxista e os Estudos Culturais. Um estudo dos processos históricos que deram origem ao e ajudaram a propagar o mito Shakespeariano também é levado a cabo nessa dissertação: a apropriação da figura e da obra de William Shakespeare feita pelos pré-românticos e pelos românticos em geral; a associação da figura de Shakespeare com a identidade nacional do Império Britânico; o advento da industria Shakespeariana e o papel das adaptações das peças de Shakespeare na propagação do mito Shakespeariano

Seasonal fluctuation in the distribution of eggs and larvae of flat fishes (Pleuronectiformes - Pisces) in the Cochin backwater

Attempts have been made to correlate the abundance of eggs and larvae of flat fishes belonging to families Cynoglossidae and Soleidae with the hydrographical parameters of the environment, particularly the salinity. The eggs and larvae were found to occur in the Cochin backwater during the pre-monsoon period but not during the south west monsoon period. During the south west monsoon period larvae belonging to very early stages were found at the marine end (Fairway Buoy). The continued or prolonged existence of very low salinity appears to restrict the distribution of flat fish larvae. In the post-monsoon period also the eggs and larvae were not found in regions of very low salinity. Larvae of Cynoglossus puncticeps (Richardson), C. brevis Gunther, C. cynoglossus (Ham. Buch), C. lida (Bleeker) and Solea heinii Steindachner were obtained in the collection taken from the estuary. From the data it is seen that each species has specific spawning period.

Size frequency distribution and carapace length-total length relationship of Acetes chinensis in the Kutubdia channel of Bangladesh coast

The seasonal mean size distribution of A. chinensis were estimated as 29.229mm ±4.77, 25.125mm ±2.55, 25.165mm ±2.29 and 32.44mm ±3.63 for annual, monsoon, postmonsoon and pre-monsoon period, respectively. Seasonal mean carapace length distribution were estimated as 9.37mm ±1.457, 8.063mm ±0.63,8.258mm ±0.59 and 10.37mm ±l.ll3 for annual, monsoon, post-monsoon and the pre-monsoon season. The carapace length and total length relationships was found to be TL= - 1.39±3.23 CL. Linear relation was found in arithmetic and as well as logarithmic scale.

Studies on the occurrence and growth rates of two intertidal fouling bryozoans in the Mattancherry channel of Cochin harbour, south-west coast of India

Occurrence and growth rates of two species of intertidal fouling bryozoans namely Electra bengalensis (Stoliczka) and Electra crustulanta (Pallas) are presented in this paper. The former was a typically marine form, settling on panels only during the high saline conditions of the pre-monsoon period and were absent during the low salinity conditions of the monsoon period, while the latter appeared to be a typical brackish water form settling on panels during the low saline conditions existing during the monsoon and post-monsoon periods and were totally absent during the pre-monsoon months. Regression co-efficient of the former was higher than that of the latter suggesting more pronounced growth in Electra bengalensis. Maximum growth for this species was noticed during March, April and May (pre-monsoon) while for the other species growth was more or less similar during monsoon and post-monsoon months (June-January) showing that the species was at home in oligohaline and mesohaline waters.

Ecology and production in two sandy beaches of Goa. Part (A) Distribution of bacteria in Colva and Siridaon in relation to certain environmental parameters

Qualitative and quantitative studies on the bacterial flora of two beaches viz., Colva and Siridaon at high tide, mid-tide and low tide levels during the pre-monsoon period were made. Estimations of important nutrients, like inorganic phosphates and nitrates and organic carbon have been made and correlation with the bacterial counts is being attempted. Definite correlation between bacterial population and organic carbon is seen however, no correlation is observed between bacterial counts and other physicochemical parameters.

Biology of fouling in Neendakara port, a tropical estuary in the south west coast of India

Species composition and some aspects of the biology of the fouling community in Neendakara port (southwest coast of India) has been examined for a period of one year. Fouling organisms were collected with a system of glass panels exposed for varying durations and during different months in the port. One species of sponge, nine species of coelenterates, thirteen species of polyzoans, four species of mud-tube dwelling polychaetes, four species of serpulids, one species each of mud-tube forming amphipod and tanaid, two species of oysters, six species of mussels and not less than eight species of tunicates were the macro fouler which settled over the panels. Monthly and seasonal settlement of the different species has been recorded. Fouling has been a continuous process occurring throughout the year in Neendakara port with slightly fluctuating biomass and considerably varying species composition. Alternate species dominance of marine and brackish water forms has been an important feature of fouling in the area. Number of species of the sedentary fouling animals represented on test panels has been high during the highly saline pre-monsoon period and low during the monsoon period.

Oxygen consumption under copper and zinc stress in Perna viridis

The rate of oxygen consumption by Perna viridis pre-exposed to copper and zinc was studied. Those test individuals pre-exposed to various zinc concentrations showed variability in oxygen consumption irrespective of concentrations and pre-exposure period. While those animals pre-exposed to various copper concentrations registered decrease in oxygen consumption at concentrations above 0.06 p.p.m. copper, pre-exposure to concentrations below 0.02 p.p.m. copper did not result in any clear cut change in the rate of oxygen consumption.