Política fiscal y ciclo en América Latina: el rol de los gobiernos subnacionales

El presente trabajo analiza el rol de los gobiernos subnacionales (GSNs) en la política fiscal de los países más descentralizados de América Latina durante la última década. Esta extensión del análisis al nivel subnacional resulta de gran importancia, teniendo en cuenta que crecientemente gobiernos intermedios y locales son responsables de una parte significativa de las finanzas públicas en la región. En particular, después de revisar la evolución de las finanzas subnacionales a lo largo de los últimos diez años, el trabajo analiza el carácter cíclico de las cuentas públicas y si el comportamiento fiscal se puede caracterizar como pro o contracíclico y las causas de esto. Para ello, se analizan tanto la postura macro y la sostenibilidad de la política fiscal subnacional así como también la evolución de la composición de ingresos y gastos en los diferentes países. El análisis sugiere que, en promedio, las finanzas subnacionales han sido pro-cíclicas durante el periodo, a pesar del hecho que los impulsos fiscales subnacionales han sido relativamente pequeños, en comparación con los de los presupuestos de los gobiernos centrales.

Proposal on debt for climate adaptation swaps: a strategy for growth and economic transformation of Caribbean economies

ECLAC advocates that the Caribbean’s high debt dilemma was not principally driven by policy missteps, or the international financial crisis. Rather, it finds its roots in external shocks, compounded by the inherent structural weaknesses and vulnerabilities confronting Caribbean SIDS and their limited capacity to respond. A major factor has been the underperformance of the export sector, partly due to a decline in competitiveness and a slowdown in economic activity especially among the tourism-dependent economies. Caribbean countries have also accumulated debt as a consequence of increased expenditures to address the impact of extreme events and climate change attendant difficulties. Most Caribbean countries are located in the hurricane belt and are also prone to earthquakes and other hazards. Indeed, a disaster resulting in damage and losses in excess of 5 per cent of GDP can be expected to hit any Caribbean country every few years. Moreover, over the period 2000-2014, it is estimated that the economic cost of natural disasters in Caribbean countries was in excess of US$30.7 billion. The English Speaking Caribbean countries are extremely vulnerable to natural disasters.

Efectos distributivos de las políticas públicas para la mitigación del cambio climático en América Latina: una aproximación con un meta-análisis

El principal objetivo de este estudio es analizar los efectos potenciales de diversas políticas climáticas sobre la distribución del ingreso en América Latina. Este análisis se realizó con base en un meta-análisis y su meta-regresión y el análisis de las encuestas de ingreso gasto de diversos países de América Latina. Los principales resultados obtenidos de este análisis muestran que en general existe una tendencia a identificar efectos regresivos derivados de la instrumentación de políticas públicas orientadas a la mitigación. Sin embargo, la revisión de la literatura y de las encuestas de ingreso gasto muestran que los resultados son heterogéneos por países y que dependen de factores tales como el instrumento aplicado, la inclusión de estrategias de reciclaje fiscal y del nivel de desarrollo.

Política fiscal ambiental en el Ecuador: avances y desafíos

En las últimas décadas se observa un creciente deterioro del medio ambiente y una intensificación de los fenómenos climáticos asociados al cambio climático. Es posible, desde el ámbito económico, entender a este deterioro ambiental y el problema del cambio climático como la consecuencia lógica de diversas externalidades negativas (Stern, 2007). En este contexto, la política fiscal es un instrumento fundamental para reducir o eliminar las externalidades negativas asociadas al medio ambiente y al mismo tiempo fomentar el crecimiento económico, el empleo y en general el bienestar de la población. En América Latina existen pocas experiencias, la mayor parte recientes, de uso de la política fiscal ambiental para enfrentar los problemas ambientales, como la contaminación atmosférica, el cambio climático, entre otros. En este contexto, el objetivo del presente documento es sistematizar las iniciativas ejecutadas por el Gobierno de Ecuador en materia de fiscalidad e iniciativas ambientales, analizando los avances logrados en los últimos años así como los desafíos y recomendaciones para avanzar hacia un desarrollo más sustentable.

Analytical analysis of consumption in Brazil

This thesis is an analytical analysis of consumption in Brazil, based on data from the Consumer Expenditure Survey, years 2008 to 2009, collected by the Brazilian Institute of Geography and Statistics. The main aim of the thesis was to identify differences and similarities in consumption among Brazilian households, and estimate the importance of demographic and geographic characteristics. Initially, households belonging to different social classes and geographical regions were compared based on their consumption. For further insights, two cluster analyses were conducted. Firstly, households were grouped according to the absolute values of expenditures. Five clusters were discovered; cluster membership showed larger spending in all of the expense categories for households having higher income, and a substantial association with particular demographic variables, including as region, neighborhood, race and education. Secondly, cluster analysis was performed on proportionate distribution of total spending by every household. Five groups of households were revealed: Basic Consumers, the largest group that spends only on fundamental goods, Limited Spenders, which additionally purchase alcohol, tobacco, literature and telecommunication technologies, Mainstream Buyers, characterized by spending on clothing, personal care, entertainment and transport, Advanced Consumers, which have high relative expenses on financial and legal services, healthcare and education, and Exclusive Spenders, households distinguished by spending on vehicles, real estate and travelling.

Is the risk of product market predation a cost of disclosure?

Thesis (Ph.D.)--University of Washington, 2016-06

Earnings management in response to the introduction of the Australian gold tax

Earnings from gold mining in Australia remained tax-exempt for almost seven decades until January 1, 1991. In the early 1980s, rapid economic prosperity induced by escalated gold prices brought the Australian gold-mining industry under intense political scrutiny. Using a variant of the modified Jones model, this paper provides evidence of significant downward earnings management by Australian gold-mining firms, which is consistent with their attempts to mitigate political costs during the period from June 1985 to May 1988. In contrast, test of earnings management over a similar period in a control sample of Canadian gold-mining firms produced insignificant results. Further, empirical results are robust to several sensitivity tests performed. During the period from June 1988 to December 1990, the Australian firms were found to have engaged in economic earnings management. This is consistent with the sample firms' incentive of maximizing economic earnings immediately prior to the introduction of income tax on gold mining. The findings of this study help to understand the impact of earnings management on the efficient resource allocation in an economy. They also contribute toward understanding the linkage between regulation of accounting for special purposes and general-purpose financial. reporting.

A randomized controlled trial to assess sunscreen application and beta carotene supplementation in the prevention of solar keratoses

Background: Solar keratoses (SKs) are among the strongest determinants of skin cancer, but little is known about the success of measures to control these common skin tumors. Objective: To determine whether daily sunscreen application and/or beta carotene supplementation retards the rate of occurrence of SKs in adults in the medium term. Design: Randomized controlled trial conducted between February 1992 and August 1996. Setting: General community of the subtropical township of Nambour, Australia (latitude, 26degrees south). Participants: A total of 1621 adults aged 25 to 74 years. Interventions: Participants were randomized to daily use of sunscreen (application of a high-protection sunscreen to their head, neck, arms, and hands every morning) or application of sunscreen at their usual discretionary rate. They were also randomly assigned to take either one 30-mg tablet of beta carotene or one placebo tablet each day. Main Outcome Measure: Change in the prevalent number of SKs in the intervention group relative to change in the control group. Results: The ratio of SK counts in 1994 relative to 1992 was lower in people randomized to daily sunscreen use (1.20; 95% confidence interval, 1.04-1.39) than in those randomized to discretionary sunscreen use (1.57; 95% confidence interval, 1.35-1.84). This 24% reduction is equivalent to the prevention of an average of I additional SK per person over that time. A reduction in the rate of change of SK prevalence was also seen in the sunscreen intervention group relative to the discretionary sunscreen group between 1994 and 1996, but it was not significant. No effect on the rate of change of prevalent SK counts was seen among those taking beta carotene supplements relative. to those taking placebo tablets. Conclusions: Daily application of sunscreen retarded the rate of SK acquisition among adults in a subtropical environment, while a beta carotene supplementation of 30 mg/d had no influence on the occurrence of SKs.

Two knees or not two knees? Patient costs and outcomes following bilateral and unilateral total knee joint replacement surgery for OA

Aims: This study aims to address medical and non-medical direct costs and health outcomes of bilateral and unilateral total knee replacement from the patients' perspective during the first year post-surgery. Methods: Osteoarthritis patients undergoing primary unilateral total knee or bilateral total knee replacement (TKR) surgery at three Sydney hospitals were eligible. Patients completed questionnaires pre-operatively to record expenses during the previous three months and health status immediately prior to surgery. Patients then maintained detailed prospective cost diaries and completed SF-36 and WOMAC Index each three months for the first post-operative year. Results: Pre-operatively, no significant differences in health status were found between patients undergoing unilateral TKR and bilateral TKR. Both unilateral and bilateral TKR patients showed improvements in pain, stiffness and function from pre-surgery to 12 months post-surgery. Patients who had bilateral TKR spent an average of 12.3 days in acute hospital and patients who had unilateral TKR 13.6 days. Totally uncemented prostheses were used in 6% of unilateral replacements and 48% of bilateral replacements. In hospital, patients who had bilateral TKR experienced significantly more complications, mainly thromboembolic, than patients who had unilateral TKR. Regression analysis showed that for every one point increase in the pre-operative SF-36 physical score (i.e. improving physical status) out-of-pocket costs decreased by 94%. Out-of-pocket costs for female patients were 3.3 times greater than for males. Conclusion: Patients undergoing bilateral TKR and unilateral TKR had a similar length of stay in hospital and similar out-of-pocket expenditures. Bilateral replacement patients reported better physical function and general health with fewer health care visits one year post procedure. Patients requiring bilateral TKR have some additional information to aid their decision making. While their risk of peri-operative complications is higher, they have an excellent chance of good health outcomes at 12 months and are not going to be doubly 'out-of-pocket' for the experience. (C) 2004 OsteoArthritis Research Society International. Published by Elsevier Ltd. All rights reserved.

Estimating physical activity level: The role of domestic activities

Appropriate measures of physical activity are essential for determining the population prevalence of physical activity, for tracking trends over time, and for guiding intervention efforts. Physical activity measurement is characterised by the synthesis of information on the type, frequency, intensity, and duration of activity over a specified period. To date, emphasis in physical activity assessment has been on the measurement of leisure time physical activities. However, some domestic and transport related activities entail energy expenditures equivalent to moderate intensity of 3.0–6.0 METS1 considered to be of sufficient intensity to achieve a health benefit are yet to be included in routine population level physical activity surveillance. This leads to population estimates based only on measures of leisure time physical activities.

The current account, fiscal policy, and medium-run income determination

This article presents a new framework for analyzing the simultaneous determination of current account imbalances and the path of national income. Using standard macroeconomic behavioral relationships, it first examines how and why current account deficits matter by investigating links between domestic consumption, government spending, output, saving, investment, interest rates, and capital flows. Central to the model is the distinction between aggregate output and expenditure that enables dissection of the effects of discretionary fiscal change on the current account and national income. The framework yields results relevant to the twin deficits hypothesis that are contrary to those of standard models.

Costs increase as ritualized fighting progresses within and between phases in the sierra dome spider, Neriene litigiosa

Magnitudes and patterns of energy expenditure in animal contests are seldom measured, but can be critical for predicting contest dynamics and understanding the evolution of ritualized fighting behaviour. In the sierra dome spider, males compete for sexual access to females and their webs. They show three distinct phases of fighting behaviour, escalating from ritualized noncontact display (phase 1) to cooperative wrestling (phase 2), and finally to unritualized, potentially fatal fighting (phase 3). Using CO2 respirometry, we estimated energetic costs of male-male combat in terms of mean and maximum metabolic rates and the rate of increase in energy expenditure. We also investigated the energetic consequences of age and body mass, and compared fighting metabolism to metabolism during courtship. All three phases involved mean energy expenditures well above resting metabolic rate (3.5 X, 7.4 X and 11.5 X). Both mean and maximum energy expenditure became substantially greater as fights escalated through successive phases. The rates of increase in energy use during phases 2 and 3 were much higher than in phase 1. In addition, age and body mass affected contest energetics. These results are consistent with a basic prediction of evolutionarily stable strategy contest models, that sequences of agonistic behaviours should be organized into phases of escalating energetic costs. Finally, higher energetic costs of escalated fighting compared to courtship provide a rationale for first-male sperm precedence in this spider species. (C) 2004 The Association for the Study of Animal Behaviour. Published by Elsevier Ltd. All rights reserved.

Carvedilol reduces the costs of medical care in severe heart failure: An economic analysis of the COPERNICUS study applied to the United Kingdom

Background: The aim of this study was to determine the effects of carvedilol on the costs related to the treatment of severe chronic heart failure (CHF). Methods: Costs for the treatment for heart failure within the National Health Service (NHS) in the United Kingdom (UK) were applied to resource utilisation data prospectively collected in all patients randomized into the Carvedilol Prospective Randomized Cumulative Survival (COPERNICUS) Study. Unit-specific, per them (hospital bed day) costs were used to calculate expenditures due to hospitalizations. We also included costs of carvedilol treatment, general practitioner surgery/office visits, hospital out-patient clinic visits and nursing home care based on estimates derived from validated patterns of clinical practice in the UK. Results: The estimated cost of carvedilol therapy and related ambulatory care for the 1156 patients assigned to active treatment was 530,771 pound (44.89 pound per patient/month of follow-up). However, patients assigned to carvedilol were hospitalised less often and accumulated fewer and less expensive days of admission. Consequently, the total estimated cost of hospital care was 3.49 pound million in the carvedilol group compared with 4.24 pound million for the 1133 patients in the placebo arm. The cost of post-discharge care was also less in the carvedilol than in the placebo group (479,200 pound vs. 548,300) pound. Overall, the cost per patient treated in the carvedilol group was 3948 pound compared to 4279 pound in the placebo group. This equated to a cost of 385.98 pound vs. 434.18 pound, respectively, per patient/month of follow-up: an 11.1% reduction in health care costs in favour of carvedilol. Conclusions: These findings suggest that not only can carvedilol treatment increase survival and reduce hospital admissions in patients with severe CHF but that it can also cut costs in the process.

Long-term increase in sunscreen use in an Australian community after a skin cancer prevention trial

Background. Given the public health burden of skin cancer in white populations, an increase in sun protective behavior is needed. In a highrisk community, we assessed long-term Sunscreen use among people who had participated in a randomized trial of daily Sunscreen application for prevention of skin cancer. Methods. In 1992, 1621 residents of the subtropical Australian township of Nambour were randomly allocated to either daily or discretionary sunscreen use until 1996. From 1997 to 2002, we monitored by questionnaires their ongoing sunscreen use. Results. People who had never or irregularly used sunscreen when in summer sun before the trial were more likely (P < 0.0001) to be sustaining regular application especially to their face (20% vs. 11%) and forearms (14% vs. 5%) if they had been allocated to daily, not discretionary, use of sunscreen for 5 years. Conclusions. Regular voluntary sunscreen use for skin cancer prevention can be sustained by sun-sensitive people in the long term. Habit formation appears to be an important goal for sun protection programs among those living, or on vacation, in sunny places. (c) 2005 Elsevier Inc. All rights reserved.