Health Information and the Choice of Fish Species: An Experiment Measuring the Impact of Risk and Benefit Information, April 2006

An experiment was conducted in France to evaluate the impact of health information on consumers’ choice between two different types of fish. Successive messages revealing risks (methylmercury) and benefits (omega-3s) of consuming the fish, along with consumption recommendations, were delivered. Results show a significant difference of reaction according to the order and type of information. The information about risks had a larger marginal impact on change in willingness to pay (WTP) than did the information about benefits. While the results show that detailed messages on risks/benefits, including recommendations for nutrition behavior, matter in the modification of WTP, 40% of respondents did not change their initial choices after the revelation of health information.

Adverse Selection, Credit, and Efficiency: the Case of the Missing Market

We analyze a standard environment of adverse selection in credit markets. In our envi- ronment, entrepreneurs who are privately informed about the quality of their projects need to borrow from banks. As is generally the case in economies with adverse selection, the competitive equilibrium of our economy is shown to be ine¢ cient. Under adverse selection, the choices made by one type of agents limit what can be o¤ered to other types in an incentive-compatible manner. This gives rise to an externality, which cannot be internalized in a competitive equilibrium. We show that, in this type of environment, the ine¢ ciency associated to adverse selection is the consequence of one implicit assumption: entrepreneurs can only borrow from banks. If an additional market is added (say, a .security market.), in which entrepreneurs can obtain funds beyond those o¤ered by banks, we show that the e¢ cient allocation is an equilibrium of the economy. In such an equilibrium, all entrepreneurs borrow at a pooling rate in the security market. When they apply to bank loans, though, only entrepreneurs with good projects pledge these additional funds as collateral. This equilibrium thus simultaneously entails cross- subsidization and separation between di¤erent types of entrepreneurs.

Free Flows, Limited Diversification: Explaining the Fall and Rise of Stock Market Correlations, 1890-2001

Using a new dataset on capital account openness, we investigate why equity return correlations changed over the last century. Based on a new, long-run dataset on capital account regulations in a group of 16 countries over the period 1890-2001, we show that correlations increase as financial markets are liberalized. These findings are robust to controlling for both the Forbes-Rigobon bias and global averages in equity return correlations. We test the robustness of our conclusions, and show that greater synchronization of fundamentals is not the main cause of increasing correlations. These results imply that the home bias puzzle may be smaller than traditionally claimed.

Field investigation of hydraulic structures facilitating fish abundance & passage through bridges in western Iowa streams, March 2006

The overarching goal of the proposed research was to evaluate the hydraulic performance of twenty two (22) fish-passage structures located in close proximity to bridges in western Iowa and within the HCA (Hungry Canyon Alliance) territory. Such structures include riprap weirs, fish ladders and grouted ripraps. The hydraulic performance of the aforementioned structures was evaluated via detailed field tests for a range of flow conditions relevant to fish migration through bridge waterways in different streams in western Iowa.

Streptococcus agalactiae (GBS) PNA FISH -tekniikan soveltuminen B-ryhmän streptokokin tunnistukseen

B-ryhmän beetahemolyyttinen streptokokki (GBS = Group B Streptococcus, Streptococcus agalactiae)aiheuttaa vakavia infektioita yleensä astasyntyneillä. Tartunta saadaan yleensä synnytyskanavasta ja riskitekijöinä ovat muun muassa keskosuus, ennenaikainen lapsivedenmeno ja äidin runsas Bstreptokokkikolonisaatio emättimessä. Bakteerin tunnistukseen käytetään tällä hetkellä viljelytekniikkaa, jonka tulos saadaan vasta 24-48 tunnin kuluttua. Opinnäytetyöni tarkoituksena on tutkia uutta ja nopeampaa tunnistusmenetelmää: GBS PNA FISH - tekniikkaa (Peptide Nucleic Acid Fluorescence in Situ Hybridization). Tarkoituksena on tutkia tekniikan spesifiteettiä ja sensitiviteettiä. Tekniikan spesifiteettiä tutkitaan B-ryhmän beetahemolyyttisellä streptokokilla sekä kuudella muulla emättimen normaaliflooraan kuuluvalla bakteerilajilla. Yhteensä bakteerikantoja on tutkimuksessa mukana 48 kappaletta. Tämän lisäksi tutkitaan myös tekniikan sensitiviteettiä, jota tutkitaan bakteereista tehdyn laimennossarjan avulla. Sensitiviteetti tutkitaan bakteeriseoksesta, jonne on B-ryhmän beetahemolyyttisen streptokokin lisäksi lisätty muita emättimen normaaliflooran bakteereita. Lisäksi sensitiviteetti tutkitaan pelkällä B-ryhmän beetahemolyyttisellä streptokokilla käyttäen sekä normaalia että bakteerin rikastusmenetelmää. Testeistä saadut tulokset tulkitaan fluoresenssimikroskoopin avulla. GBS PNA FISH -tekniikan spesifiteetti todettiin erittäin hyväksi. Tekniikka tunnisti kaikki B-ryhmän beetahemolyyttiset streptokokit positiivisiksi ja kaikki muut lajit antoivat negatiivisen tuloksen. B-streptokokin positiivisuus oli erotettavissa mikroskopoitaessa vahvana fluoresointina, kun taas muut lajit eivät fluoresoineet lainkaan. GBS PNA FISH -tekniikan sensitiivisyyden tulokset eivät kuitenkaan täyttäneet odotuksia. Ainoastaan bakteerin rikastusmenetelmällä saadut tulokset olivat loistavia, mutta bakteeriseoksella ja pelkällä B-ryhmän beetahemolyyttisellä streptokokilla saadut tulokset olivat lähes olemattomia. Rikastusmenetelmän kaikki laimennokset fluoresoivat positiivisina, kun taas muissa tapauksissa vain vahvin liuos antoi jonkinlaista positiivista fluoresointia. GBS PNA FISH -tekniikan spesifiteetti todettiin hyväksi. Tekniikan sensitiviteetti ei kuitenkaan vastaa käyttötarkoitusta ja todellisessa tilanteessa tekniikka ei pystyisi tunnistamaan sille spesifistä bakteeria muiden bakteerien joukosta.

Adverse selection, credit, and efficiency: the case of the missing market

We analyze a standard environment of adverse selection in credit markets. In our environment, entrepreneurs who are privately informed about the quality of their projects need to borrow in order to invest. Conventional wisdom says that, in this class of economies, the competitive equilibrium is typically inefficient. We show that this conventional wisdom rests on one implicit assumption: entrepreneurs can only access monitored lending. If a new set of markets is added to provide entrepreneurs with additional funds, efficiency can be attained in equilibrium. An important characteristic of these additional markets is that lending in them must be unmonitored, in the sense that it does not condition total borrowing or investment by entrepreneurs. This makes it possible to attain efficiency by pooling all entrepreneurs in the new markets while separating them in the markets for monitored loans.

The Labor Market Effects of Technology Shocks

We analyze the labor market effects of neutral and investment-specific technology shocks along the intensive margin (hours worked) and the extensive margin (unemployment). We characterize the dynamic response of unemployment in terms of the job separation and the job finding rate. Labor market adjustments occur along the extensive margin in response to neutral shocks, along the intensive margin in response to investment specific shocks. The job separation rate accounts for a major portion of the impact response of unemployment. Neutral shocks prompt a contemporaneous increase in unemployment because of a sharp rise in the separation rate. This is prolonged by a persistent fall in the job finding rate. Investment specific shocks rise employment and hours worked. Neutral shocks explain a substantial portion of the volatility of unemployment and output; investment specific shocks mainly explain hours worked volatility. This suggests that neutral progress is consistent with Schumpeterian creative destruction, while investment-specific progress operates as in a neoclassical growth model.

Assessing the Political Viability of Labour Market Reform: The Case of Employment Protection

We analyze the political support for employment protection legislation. Unlike my previous work on the same topic, this paper pays a lot of attention to the role of obsolescence in the growth process. In voting in favour of employment protection, incumbent employees trade off lower living standards (because employment protection maintains workers in less productive activities) against longer job duration. The support for employment protection will then depend on the value of the latter relative to the cost of the former. We highlight two key deeterminants of this trade-off: first, the workers' bargaining power, second, the economy's growth rate-more precisely its rate of creative destruction.

Labour Market Formation Patterns in Nineteenth Century Catalonia

In this paper we portray the features of the Catalan textiles labour market in a period of technological change. Supply and demand for labour as well as a gendered view of living standards are presented. A first set of results is that labour supply adjusts to changes in labour demand trough the spread of new demographic attitudes. In this respect we imply that labour economic agents (or labour population) were able to modify the economic condition of their children. A second set of results refers to living standards and income distribution inequality. In this respect we see that unemployment and protectionism were the main sources breeding income inequality. A third set of results deals with the extreme labour market segmentation according to gender. Since women s real wages did not obey to an economic rationale we conclude that women were outside the labour market.

Expansion of undergraduate courses in nursing: dilemmas and contradictions facing the labor market

We sought to analyze, from the perspective of professors and students, the reasons and consequences of the expansion of undergraduate courses in nursing, discussing the dilemmas and the contradictions confronting the labor market. It was a qualitative study with data obtained from focus groups, conducted in 18 undergraduate nursing courses in the state of Minas Gerais, during the period of February to October of 2011. The narratives were submitted to critical discourse analysis. The results indicated that the education of the nurse was permeated by insecurity as to the future integration into the labor market. The insecurity translates into dilemmas that referred to employability and the precariousness of the working conditions. In this context, employment in the family health strategy emerges as a mirage. One glimpses the need for a political agenda with the purpose of discussion about education, the labor market and the determinants of these processes.

Trade, Extent of the Market, and Economic Growth 1960-1996

We find that trade and domestic market size are robust determinants of economic growth over the 1960-1996 period when trade openness is measured as the US dollar value of imports and exports relative to GDP in PPP US$ ('real openness'). When trade openness is measured as the US dollar value of imports and exports relative to GDP in exchange rate US$ ('nominal openness') however, trade and the size of domestic markets are often non-robust determinants of growth. We argue that real openness is the more appropriate measure of trade and that our empirical results should be seen as evidence in favor of the extent-of-the-market hypothesis.

EuroCMR (European Cardiovascular Magnetic Resonance) registry: results of the German pilot phase.

OBJECTIVES: During its German pilot phase, the EuroCMR (European Cardiovascular Magnetic Resonance) registry sought to evaluate indications, image quality, safety, and impact on patient management of routine CMR. BACKGROUND: CMR has a broad range of applications and is increasingly used in clinical practice. METHODS: This was a multicenter registry with consecutive enrollment of patients in 20 German centers. RESULTS: A total of 11,040 consecutive patients were enrolled. Eighty-eight percent of patients received gadolinium-based contrast agents. Twenty-one percent underwent adenosine perfusion, and 11% high-dose dobutamine-stress CMR. The most important indications were workup of myocarditis/cardiomyopathies (32%), risk stratification in suspected coronary artery disease/ischemia (31%), as well as assessment of viability (15%). Image quality was good in 90.1%, moderate in 8.1%, and inadequate in 1.8% of cases. Severe complications occurred in 0.05%, and were all associated with stress testing. No patient died during or due to CMR. In nearly two-thirds of patients, CMR findings impacted patient management. Importantly, in 16% of cases the final diagnosis based on CMR was different from the diagnosis before CMR, leading to a complete change in management. In more than 86% of cases, CMR was capable of satisfying all imaging needs so that no further imaging was required. CONCLUSIONS: CMR is frequently performed in clinical practice in many participating centers. The most important indications are workup of myocarditis/cardiomyopathies, risk stratification in suspected coronary artery disease/ischemia, and assessment of viability. CMR imaging as used in the centers of the pilot registry is a safe procedure, has diagnostic image quality in 98% of cases, and its results have strong impact on patient management.