Human capital in a global and knowledge-based economy

This document is a report prepared for the DG for Employment and Social Affairs of the European Commission. It surveys the available evidence on the contribution of investment in human capital to aggregate productivity growth and on its impact on wages and other labour outcomes at the individual level. It also draws some tentative policy conclusions for an average European country.

The role of central bank operating procedures in an economy with productive government spending

The choice of either the rate of monetary growth or the nominal interest rate as the instrument controlled by monetary authorities has both positive and normative implications for economic performance. We reexamine some of the issues related to the choice of the monetary policy instrument in a dynamic general equilibrium model exhibiting endogenous growth in which a fraction of productive government spending is financed by means of issuing currency. When we evaluate the performance of the two monetary instruments attending to the fluctuations of endogenous variables, we find that the inflation rate is less volatile under nominal interest rate targeting. Concerning the fluctuations of consumption and of the growth rate, both monetary policy instruments lead to statistically equivalent volatilities. Finally, we show that none of these two targeting procedures displays unambiguously higher welfare levels.

On the relation between tax rates and evasion in a multi-period economy

We extend the basic tax evasion model to a multi-period economy exhibiting sustained growth. When individuals conceal part of their true income from the tax authority, they face the risk of being audited and hence of paying the corresponding fine. Both taxes and fines determine individual saving and the rate of capital accumulation. In this context we show that the sign of the relation between the level of the tax rate and the amount of evaded income is the same as that obtained in static setups. Moreover, high tax rates on income are typically associated with low growth rates as occurs in standard growth models that disregard the tax evasion phenomenon.

Regional decomposition of CO2 emissions in the world: a cluster analysis

The purpose of this paper is to study the possible differences among countries as CO2 emitters and to examine the underlying causes of these differences. The starting point of the analysis is the Kaya identity, which allows us to break down per capita emissions in four components: an index of carbon intensity, transformation efficiency, energy intensity and social wealth. Through a cluster analysis we have identified five groups of countries with different behavior according to these four factors. One significant finding is that these groups are stable for the period analyzed. This suggests that a study based on these components can characterize quite accurately the polluting behavior of individual countries, that is to say, the classification found in the analysis could be used in other studies which look to study the behavior of countries in terms of CO2 emissions in homogeneous groups. In this sense, it supposes an advance over the traditional regional or rich-poor countries classifications .

An input-output analysis of the "key" sectors in CO2 emissions from a production perspective: an application to the spanish economy

Here we present an approach that allows the identification of the "key" productive sectors responsible for CO2 emission. For this purpose, we develop an input–output methodology from a supply perspective. We focus on the impact of an increase in the value-added of the different productive sectors on total CO2 emissions and we identify the productive sectors responsible for the increase in CO2 emissions when there is an increase in the income of the economy. The approach shows the contribution of the various sectors to CO2 emission from a production perspective and allows us to identify the sectors that deserve more consideration for mitigation policies. This analysis is complementary to the input–output analysis from a demand perspective. The methodology is applied to the Spanish economy.

Studies on the relationship between lectin binding carbohydrates and different strains of Leishmania from the New World

The culture forms of L. mexicana pifanoi (LRC L-90), L. mexicana mexicana (LRC L-94, M-379); L. braziliensis braziliensis (LRC L-77, L-1, M-2903, H-LSS) and L. mexicana amazonensis (H-JMMO, M-JOF, H-21, H-PLL,M-1696) were tested with the following lectins: Canavalia ensiformis, Ricinus communis-120, Axinella polypoides, Phaseolus vulgaris, Evonymus europaeus, lotus tetragonolobus, Dolichos biflorus, Aaptos papillata II, Laburnum alpinum, Ulex europaeus, Arachis hypogaea and Soja hispida. All examined strains of Leishmania were agglutinated by C. ensiformis, R. communis-120 and A. popypoides. No agglutination reactions were observed with P. vulgaris, D.biflorus, A. papillata II, E. europaeus and L. tetragonolobus. Only L. m. pifanoi and the L. m. amazonensis strains H-JMMO and MJOF showed agglutination reactions with S. hispida, U. europaeus, L. alpinum and A. hypogaea, while L. m. mexicana (LRC L-94; M-379) strains, L. b. braziliensis H. LSS, LRC L-77; L-1; M-2903 and the L. m. amazonensis strains, H-PLL, H-21, M-1696 showed no agglutination reactions with these four lectins.

Calibration of CES functions for real-world multisectoral modeling

We show how to calibrate CES production and utility functions when indirect taxation affecting inputs and consumption is present. These calibrated functions can then be used in computable general equilibrium models. Taxation modifies the standard calibration procedures since any taxed good has two associated prices and a choice of reference value units has to be made. We also provide an example of computer code to solve the calibration of CES utilities under two alternate normalizations. To our knowledge, this paper fills a methodological gap in the CGE literature.

An application of MSIASM to Chinese exosomatic energy metabolism

The methodology of Multi-Scale Integrated The methodology of Multi-Scale Integrated Analysis of Societal Metabolism (MSIASM) is applied to analyze the Chinese economy. This paper presents four tasks: (i) identifying a set of benchmarks that makes it possible to compare various characteristics of the Chinese economy with those of other country groups and the world (level) average; (ii) explaining the differences over the selected set of benchmarks, by looking at the characteristics of the various sub-sectors of the Chinese economy; (iii) understanding existing trends and future feasible future development paths for China by studying the existence of reciprocal constraints between the whole economy and its sub-sectors; and (iv) examining plausible future scenarios of development.

The biophysical perspective of a middle income economy: material flows in Mexico

We analyse natural resource use dynamics in the Mexican economy during the last three decades. Despite low and uneven economic growth, the extraction and use of materials in the Mexican economy has continuously increased during the last 30 years. In this period, population growth rather than economic growth was the main driving force for biophysical growth. In addition, fundamental changes have taken place in the primary sectors, in manufacturing, and in household consumption and these are reflected in an increasing emphasis on the use of fossil fuels and construction materials. Mexico’s economy has been strongly influenced by international trade since the country commenced competing in international markets. In the 1970s, Mexico mainly exported primary resources. This pattern has changed and manufactured goods now have a much greater importance due to a boom in assembling industries. In contrast with other Latin American countries, Mexico has achieved a diversification of production, moving towards technology-intensive products and a better mix in its export portfolio. However, crude oil exports still represent the single most important export good. Mexico’s material consumption is still well below the OECD average but is growing fast and the current resource use patterns may well present serious social and environmental problems to the medium and long term sustainability of Mexico’s economy and community. Information on natural resource use and resource productivity could provide valuable guidance for economic policy planning in Mexico.

Deux approches de l'influence du discours économique sur les phénomènes sociaux

The influence of theoretical discourse on the corresponding field of investigation is an important feature of social science : social scientists shape the world by describing it. This phenomenon has been studied in several ways. Economic sociology has recently focused on the fact that the economy is embedded in the economics through which it is scrutinized. Great names of economic theory have focused on the effects of economists' discourse on agents' behaviours. This article aims to bring out the distinction between these two kinds of contributions which deal with the same object. Finally, it explains the analytical distinction by a difference in the initial problematic. Following trends in the French school of the economics of convention, the social influence of theoretical discourse is analyzed on the strategic side (in connection with economics) and on the interpretative side (in connection with sociology).

Economic impact of a new museum on the local economy: "The Gaudí Centre"

In this paper we analyse the economic impact of a new museum (the Gaudí Centre) on the local economy of Reus, a city in the province of Tarragona (southern Catalonia). We use a Keynesian income multiplier model to evaluate the effects of this new cultural venue on local income. In our calculation of the economic impact we distinguish between two phases: the construction phase and the exploitation phase. Our results show the important income impact of this cultural investment on the local economy.

Indirect immunofluorescence test in new world Leishmaniasis: serological and clinical relation-ship

The indirect immunofluorescence test (IF) for anti-Leishmania antibodies (IgC and IgM) was performed with sera form the following groups of individuals: 214 cutaneous leishmaniasis patients, 28 healthy subjects with positive Montenegro's skin test (MST), 29 healthy subjects with negativeMST and 16 visceral leishmaniasis patients. The first four groups came from a suburban area of Rio de Janeiro (Jacarepaguá) where cutaneous leishmaniasis caused by Leishmania braziliensis braziliensis is endemic. It was observed that IF-IgM titers were significantly higher amongst the cutaneous leishmaniasis patients with less than four months of disease as compared to those with longer periods and that IF-IgG titers were significantly higher in patients with multiple lesions as compared to those with single lesions. The visceral leishmaniasis patients had IF-IgG titers significantly higher than those from cutaneous leishmaniasis patients. A group of 28 individuals selected amongst the 214 cutaneous leishmaniasis patients had their IF-titers (IgG and IgM) compared to those of the two control groups of healthy subjects from the endemic area, respectively with positive and negative MST. Significantly higher titers of IF-IgG and IF-IgM were found in the group with active disease. The same group of patients showed IF-IgG titers significantly lower at the end of the antimonial therapy than those observed during this tratment.