Indentifying human capital externalities: Theory with an application to US cities

The identification of aggregate human capital externalities is still not fully understood. The existing (Mincerian) approach confounds positive externalities with wage changes due to a downward sloping demand curve for human capital. As a result, it yields positive externalities even when wages equal marginal social products. We propose an approach that identifies human capital externalities whether or not aggregate demand for human capital slopes downward. Another advantage of our approach is that it does not require estimates of the individual return to human capital. Applications to US cities and states between 1970 and 1990 yield no evidence of significant average -schooling externalities.

Stakeholder activism, managerial entrenchment and the congruence of interests between shareholders and stakeholders

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

Temporal Geobiotic Mapping: a conceptual mapping technique toward visualising geobiotic areas in cross-section

Geobiota are defined by taxic assemblages (i.e., biota) and their defining abiotic breaks, which are mapped in cross-section to reveal past and future biotic boundaries. We term this conceptual approach Temporal Geobiotic Mapping (TGM) and offer it as a conceptual approach for biogeography. TGM is based on geological cross-sectioning, which creates maps based on the distribution of biota and known abiotic factors that drive their distribution, such as climate, topography, soil chemistry and underlying geology. However, the availability of abiotic data is limited for many areas. Unlike other approaches, TGM can be used when there is minimal data available. In order to demonstrate TGM, we use the well-known area in the Blue Mountains, New South Wales (NSW), south-eastern Australia and show how surface processes such as weathering and erosion affect the future distribution of a Moist Basalt Forest taxic assemblage. Biotic areas are best represented visually as maps, which can show transgressions and regressions of biota and abiota over time. Using such maps, a biogeographer can directly compare animal and plant distributions with features in the abiotic environment and may identify significant geographical barriers or pathways that explain biotic distributions.

Informe estadístico de los recursos hidrobiológicos de la pesca artesanal por especies, artes, caletas y meses durante el segundo semestre de 1998

Recopila la información colectada en 31 puntos de desembarque de los puertos y caletas muestreados a nivel nacional durante el segundo semestre de 1998. Se pone a disposición de la comunidad en general siguiendo con la periodicidad semestral establecida por el Proyecto Determinación del Potencial Pesquero Artesanal en el Litoral Peruano, en la entrega de resultados sobre las estadísticas totales de la pesquería artesanal.

Desembarque de pescados, mariscos y otros animales marinos. Enero a junio 1970

Presenta un avance del primer semestre de 1970, del volumen de los desembarques de pescados, mariscos y otros animales marinos, correspondientes a la pesquería para consumo humano directo: conserva, congelado, salado, fresco; y a la pesquería para reducción: harina.

Desembarque de pescados, mariscos y otros animales marinos durante 1970

Presenta los datos estadísticos referentes a los desembarques de pescados, mariscos y otros animales marinos correspondientes al año 1970. dc.contributor.author Vásquez Aguirre, Isaac dc.contributor.author Paz Torres, Augusto dc.contributor.author Hidalgo Reyes, Raúl dc.date.accessioned 2012-11-22T02:01:23Z dc.date.available 2012-11-22T02:01:23Z dc.date.issued 1970-12 dc.identifier.citation Inf. Esp. Inst. Mar Perú nº 72, 1970 es_ES dc.identifier.uri http://biblioteca.imarpe.gob.pe:8080/handle/123456789/1649 dc.description 30 p. es_ES dc.description.abstract

Recreating the South Sea bubble: Lessons from an experiment in financial history

Major bubble episodes are rare events. In this paper, we examine what factors might cause some asset price bubbles to become very large. We recreate, in a laboratory setting, some of the specific institutional features investors in the South Sea Company faced in 1720. Several factors have been proposed as potentially contributing to one of the greatest periods of asset overvaluation in history: an intricate debt-for-equity swap, deferred payment for these shares, and the possibility of default on the deferred payments. We consider which aspect might have had the most impact in creating the South Sea bubble. The results of the experiment suggest that the company?s attempt to exchange its shares for government debt was the single biggest contributor to the stock price explosion, because of the manner in which the swap affected fundamental value. Issuing new shares with only partial payments required, in conjunction with the debt-equity swap, also had a significant effect on the size of the bubble. Limited contract enforcement, on the other hand, does not appear to have contributed significantly.

Irrationaalinen fasismi : futuristinen tulkinta italialaisesta fasismista 1930-luvulla

Marja Härmänmaa

Bibliothèque de COLBERT. — Notes sur le Décret de GRATIEN.

Contient : Listes de manuscrits de Colbert ; « Catalogue des livres de M. Puget, que M. d'Aguesseau m'a envoyé le 2 mars 1677. » ; Lettre de M. de Reichacq (?) à Baluze (Toulouse, 10 juin 1671) ; Extraits du catalogue de la bibliothèque d'Heinsius ; « Inventario delli libri mss. consegnati in Roma dall'illustrissima sigmarchesa de Bagni al Benedetti, per mandare al Em. Card. Mazarin » (20 janvier 1649), remis à M. Colbert, à Sedan, le 10 août 1657 ; Leçon d'ouverture du cours de droit canon fait par Baluze au Collège royal en 1690 ; Notes pour le commentaire du Décret de Gratien

Tractatus aureus Egidii Romani : de formatione corporis humani in utero... ; cum tractatu ejusdem de archa Noe ([Reprod.]) / correctus, revisus & renovatus per sacre theologie doctore excellentissimum magistrum Johannem Benedictum Moncetum de Castelione Arenito

Collection : French books before 1601 ; 390.7