Transitory Economic Shocks and Civil Conflict

I examine whether civil conflict is triggered by transitory negative economic shocks. My approach follows Miguel, Satyanath, and Sergenti (2004) in using rainfall as an exogenous source of economic shocks in Sub-Saharan African countries. The main difference is that my empirical specifications take into account that rainfall shocks are transitory. Failure to do so may, for example, lead to the conclusion that civil conflict is more likely to break out following negative rainfall shocks when conflict is most probable following years with exceptionally high rainfall levels.

The Impact of Industry Collaboration on Academic Research Output: A Dynamic Panel Data Analysis

The aim of this paper is to analyse the impact of university knowledge and technology transfer activities on academic research output. Specifically, we study whether researchers with collaborative links with the private sector publish less than their peers without such links, once controlling for other sources of heterogeneity. We report findings from a longitudinal dataset on researchers from two engineering departments in the UK between 1985 until 2006. Our results indicate that researchers with industrial links publish significantly more than their peers. Academic productivity, though, is higher for low levels of industry involvement as compared to high levels.

Nominal Debt as a Burden on Monetary Policy

We study the effects of nominal debt on the optimal sequential choice of monetary policy. When the stock of debt is nominal, the incentive to generate unanticipated inflation increases the cost of the outstanding debt even if no unanticipated inflation episodes occur in equilibrium. Without full commitment, the optimal sequential policy is to deplete the outstanding stock of debt progressively until these extra costs disappear. Nominal debt is therefore a burden on monetary policy, not only because it must be serviced, but also because it creates a time inconsistency problem that distorts interest rates. The introduction of alternative forms of taxation may lessen this burden, if there is enough commtiment to fiscal policy. If there is full commitment to an optimal fiscal policy, then the resulting monetary policy is the Friedman rule of zero nominal interest rates.

Generating Brand Equity through Corporate Social Responsibility to Key Stakeholders

In this paper we argue that socially responsible policies have a positive impact on a firm's brand equity in the short-term as well as in the long-term. Moreover, once we distinguish between different stakeholders, we posit that secondary stakeholders such as community are even more important than primary stakeholders (customers, shareholders, workers and suppliers) in generating brand equity. Policies aimed at satisfied community interests act as a mechanism to reinforce trust that gives further credibility to social responsible polices with other stakeholders. The result is a decrease in conflicts among stakeholders and greater stakeholder willingness to provide intangible resources that enhance brand equity. We provide support of our theoretical contentions making use of a panel data composed of 57 firms from 10 countries (the US, Japan, South Korea, France, the UK, Italy, Germany, Finland, Switzerland and the Netherlands) for the period 2002 to 2007. We use detailed information on brand equity obtained from Interbrand and on corporate social responsibility (CSR) provided by the SiRi Global Profile database, as compiled by the Sustainable Investment Research International Company (SiRi).

A Model of Collateral, Investment, and Adverse Selection

This paper characterizes the relationship between entrepreneurial wealth and aggregate investment under adverse selection. Its main finding is that such a relationship need not be monotonic. In particular, three results emerge from the analysis: (i) pooling equilibria, in which investment is independent of entrepreneurial wealth, are more likely to arise when entrepreneurial wealth is relatively low; (ii) separating equilibria, in which investment is increasing in entrepreneurial wealth, are most likely to arise when entrepreneurial wealth is relatively high and; (iii) for a given interest rate, an increase in entrepreneurial wealth may generate a discontinuous fall in investment.

The Three Horsemen of Growth: Plague, War and Urbanization in Early Modern Europe

How did Europe overtake China? We construct a simple Malthusian model with two sectors, and use it to explain how European per capita incomes and urbanization rates could surge ahead of Chinese ones. That living standards could exceed subsistence levels at all in a Malthusian setting should be surprising. Rising fertility and falling mortality ought to have reversed any gains. We show that productivity growth in Europe can only explain a small fraction of rising living standards. Population dynamics - changes of the birth and death schedules - were far more important drivers of the longrun Malthusian equilibrium. The Black Death raised wages substantially, creating important knock-on effects. Because of Engel's Law, demand for urban products increased, raising urban wages and attracting migrants from rural areas. European cities were unhealthy, especially compared to Far Eastern ones. Urbanization pushed up aggregate death rates. This effect was reinforced by more frequent wars (fed by city wealth) and disease spread by trade. Thus, higher wages themselves reduced population pressure. Without technological change, our model can account for the sharp rise in European urbanization as well as permanently higher per capita incomes. We complement our calibration exercise with a detailed analysis of intra-European growth in the early modern period. Using a panel of European states in the period 1300-1700, we show that war frequency can explain a good share of the divergent fortunes within Europe.

Stakeholder Activism, Managerial Entrenchment, and the Congruence of Interests between Shareholders and Stakeholders

We argue that when stakeholder protection is left to the voluntary initiative of managers, concessions to social activists and pressure groups can turn into a self-entrenchment strategy for incumbent CEOs. Stakeholders other than shareholders thus benefit from corporate governance rules putting managers under a tough replacement threat. We show that a minimal amount of formal stakeholder protection, or the introduction of explicit covenants protecting stakeholder rights in the firm charter, may deprive CEOs of the alliance with powerful social activists, thus increasing managerial turnover and shareholder value. These results rationalize a recent trend whereby well-known social activists like Friends of the Earth and active shareholders like CalPERS are showing a growing support for each other s agendas.

On the Structural Difference between the Evolutionary Approach of Young and that of Kandori, Mailath, and Rob

We provide robust examples of symmetric two-player coordination games in normal form that reveal that equilibrium selection by the evolutionary model of Young (1993) is essentially different from equilibrium selection by the evolutionary model of Kandori, Mailath and Rob (1993).

El perfil lingüístico de los aprendientes en el aula multicultural de interpretación en los servicios públicos: Un modelo de análisis

Tras un repaso a los enfoques investigadores (psicolingüístico, sociocultural) en la interpretación de conferencias y en la interpretación en los servicios públicos (ISP), el presente trabajo analiza distintos paradigmas didácticos (paradigma socioconstructivista) en la búsqueda de una propuesta pedagógica para las aulas multiculturales de la ISP, partiendo del modelo de análisis del “Perfil Lingüístico” de los estudiantes. El presente trabajo desarrolla dicho modelo y lo lleva a cabo en un trabajo de campo, abriendo una nueva vía en la investigación de una pedagogía para la ISP.

Anàlisi dels factors de creixement d'una ciutat: el cas concret de Cerdanyola i Granollers

Segurament molts de nosaltres ens hem preguntat algun cop quina és la millor ciutat per viure, o si les polítiques de ciutat que adopta el nostre ajuntament tindran un bon desenvolupament en el futur, és a dir, si milloraran el nivell de vida de la nostra ciutat o no. També és possible que aquells que hagueu canviat de lloc de residència algun cop en la vostra vida, us hagueu plantejat diferents qüestions a l’hora d’escollir la vostra destinació, com per exemple la seva proximitat respecte el lloc de treball/estudi, la seva situació geogràfica, el nivell de vida, etc. Però quin d’aquests factors és més determinant? En què ha d’invertir una ciutat si vol atreure més gent?Òbviament totes aquestes preguntes no tenen una resposta senzilla, entre d’altres coses perquè la forma plantejada no és la millor per a un estudi coherent (què ens fa millorar el nostre nivell de vida, més comerç o més habitants? Més centres hospitalaris o més centres d’oci? Més comunicacions o més serveis?). Però motivacions com aquestes eren les que nosaltres ens vàrem fer al principi del treball i, delimitant bé el nostre àmbit d’estudi, hem aconseguit realitzar una aproximació per determinar i estudiar els factors més importants del creixement de les ciutats.Al llarg del treball, a part de conèixer algunes dades curioses, com quines són les ciutats amb més riquesa de Catalunya (en RFDB per càpita) hem analitzat diversos factors, com la immigració, el nivell d’atur o l’edat de la població autòctona, que hom podria considerar claus per una ciutat, però també hem trobat d’altres menys previsibles com els desplaçament diaris atrets i generats, el factor capitalitat, etc.A part de tot això teníem la intenció de fer el treball el més proper possible, en el que ens poguéssim sentir identificats i fins i tot trobar-li una aplicació directa. És per això que vam voler concretar i estudiar tots aquests factors en dues ciutats que coneixíem prou bé, però aquestes havien de complir una sèrie de característiques: la població d’aquestes ha de ser semblant, la situació geogràfica ha de ser prou propera per evitar biaixos per raons climàtiques, però alhora l’àmbit d’influència de les dues ha de ser petit perquè si no ens podríem trobar que les accions que tinguin lloc en una, tinguin conseqüències en l’altra. Creiem doncs que les dues ciutats escollides, Granollers i Cerdanyola del Vallès, compleixen amb les característiques. Aquestes ciutats es troben en la província de Barcelona, en la que podríem anomenar segona corona metropolitana; dins d’aquesta regió es troba la gran majoria de la població catalana, habitants de moltes ciutats segurament molt semblants a les dues analitzades, així que segurament gran part dels lectors també s’hi podran sentir identificats.També serveix aquest treball per refutar algunes de les hipòtesis que ens vam fer al principi i ens semblaven molts coherents i d’altres que es troben del tot esteses per la societat i, a més, a mesura que el lector vagi progressant en la lectura del treball podrà comprovar que no és un sol factor el que determina el desenvolupament de les ciutats, sinó que s’estableix una extensa xarxa d’interrelacions entre elles que promou aquest creixement. Així doncs, tan sols ens queda animar-vos a endinsar-vos en la lectura del treball, que esperem us resulti interessant.

L'adquisició de l'entonació en català, castellà i anglès

El principal objectiu del projecte és analitzar el desenvolupament de l’entonació de tres llengües, el català, el castellà i l’anglès. Pretenem investigar el desenvolupament dels diferents patrons entonatius que trobem en la producció primerenca, avaluant si, efectivament, aquests primers contorns produïts pels nens reflecteixen o no les propietats prosòdiques específiques de la llengua input dels adults. En resum, l'objectiu és poder esbrinar com l'infant va configurant la seva gramàtica entonativa així com el significat que va associat a aquestes produccions entonatives. Pretenem analitzar dos tipus de dades. Per una banda, un corpus d’entonació que conté els diàlegs controlats entre 36 nens i 36 adults (12 nens de cada llengua de 2, 4 i 6 anys) i que permet de comparar les mateixes frases produïdes pels adults i pels nens. Per altra banda, els corpus longitudinals de CHILDES que ens permeten analitzar dades sobre actes de parla i formes entonatives (corpus Serra-Solé per al català, corpus Ornat i Llinàs-Ojea per al castellà i el corpus Providence per a l'anglès americà i el Forrester per a l'anglès britànic).

Mononuclear cell transcriptome response after sustained virgin olive oil consumption in humans: an exploratory nutrigenomics study

Virgin olive oil (VOO) is considered to be one of the main components responsible for the health benefits of the Mediterranean diet, particularly against atherosclerosis where peripheral blood mononuclear cells (PBMNCs) play a crucial role in atherosclerosis development and progression. The objective of this article was to identify the PBMNC genes that respond to VOO consumption in order to ascertain the molecular mechanisms underlying the beneficial action of VOO in the prevention of atherosclerosis. Gene expression profiles of PBMNCs from healthy individuals were examined in pooled RNA samples by microarrays after 3 weeks of moderate and regular consumption of VOO, as the main fat source in a diet controlled for antioxidant content. Gene expression was verified by qPCR. The response to VOO consumption was confirmed for individual samples (n = 10) by qPCR for 10 upregulated genes (ADAM17, ALDH1A1, BIRC1, ERCC5, LIAS, OGT, PPARBP, TNFSF10, USP48, and XRCC5). Their putative role in the molecular mechanisms involved in atherosclerosis development and progression is discussed, focusing on a possible relation with VOO consumption. Our data support the hypothesis that 3 weeks of nutritional intervention with VOO supplementation, at doses common in the Mediterranean diet, can alter the expression of genes related to atherosclerosis development and progression.

Self-serving biases: Evidence from a simulated labor relationship

Previous studies have found evidence of a self-serving bias in bargaining and dispute resolution. We use experimental data to test for this effect in a simulated labor relatonship. We finda consistent discrepancy between employer beliefs and employee actions that can only be attributed to self-serving biases. This discrepancy is evident through stated beliefs, revealed satisfaction, and actual actions. We present evidenceand discuss implications.

A polynomial algorithm for special case of the one-machine scheduling problem with time-lags

The standard one-machine scheduling problem consists in schedulinga set of jobs in one machine which can handle only one job at atime, minimizing the maximum lateness. Each job is available forprocessing at its release date, requires a known processing timeand after finishing the processing, it is delivery after a certaintime. There also can exists precedence constraints between pairsof jobs, requiring that the first jobs must be completed beforethe second job can start. An extension of this problem consistsin assigning a time interval between the processing of the jobsassociated with the precedence constrains, known by finish-starttime-lags. In presence of this constraints, the problem is NP-hardeven if preemption is allowed. In this work, we consider a specialcase of the one-machine preemption scheduling problem with time-lags, where the time-lags have a chain form, and propose apolynomial algorithm to solve it. The algorithm consist in apolynomial number of calls of the preemption version of the LongestTail Heuristic. One of the applicability of the method is to obtainlower bounds for NP-hard one-machine and job-shop schedulingproblems. We present some computational results of thisapplication, followed by some conclusions.

Emotion and reason in everyday risk perception

Although research has documented the importance of emotion in risk perception, little is knownabout its prevalence in everyday life. Using the Experience Sampling Method, 94 part-timestudents were prompted at random via cellular telephones to report on mood state and threeemotions and to assess risk on thirty occasions during their working hours. The emotions valence, arousal, and dominance were measured using self-assessment manikins (Bradley &Lang, 1994). Hierarchical linear models (HLM) revealed that mood state and emotions explainedsignificant variance in risk perception. In addition, valence and arousal accounted for varianceover and above reason (measured by severity and possibility of risks). Six risks were reassessedin a post-experimental session and found to be lower than their real-time counterparts.The study demonstrates the feasibility and value of collecting representative samples of data withsimple technology. Evidence for the statistical consistency of the HLM estimates is provided inan Appendix.