The dynamic adjustment of local government budgets : Does Spain behave differently?

[spa] El objetivo de este trabajo es analizar si los municipios españoles se ajustan en presencia de un shock presupuestario y (si es así) qué elementos del presupuesto son los que realizan el ajuste. La metodología utilizada para contestar estas preguntas es un mecanismo de corrección del error, VECM, que estimamos con un panel de datos de los municipios españoles durante el período 1988-2006. Nuestros resultados confirman que, en primer lugar, los municipios se ajustan en presencia de un shock fiscal (es decir, el déficit es estacionario en el largo plazo). En segundo lugar, obtenemos que cuando el shock afecta a los ingresos el ajuste lo soporta principalmente el municipio reduciendo el gasto, las transferencias tienen un papel muy reducido en este proceso de ajuste. Por el contrario, cuando el shock afecta al gasto, el ajuste es compartido en términos similares entre el municipio – incrementado los impuestos – y los gobiernos de niveles superiores – incrementando las transferencias. Estos resultados sugieren que la viabilidad de las finanzas pública locales es factible con diferentes entornos institucionales.

El mercado de trabajo español en la unión monetaria : flexibilidad de salarios y política laboral

La baja movilidad espacial de la mano d'obra y la incapacidad estabilizadora del presupuesto comunitario como mecanismos de ajuste alternativos a la política monetaria y al tipo de cambio exigen que el mercado de trabajo español muestre una alta flexibilidad salarial para poder reaccionar con rapidez a los eventuales shocks asimétricos nacionales en el marco de la Unión Monetaria. En este trabajo se analizan, en primer lugar, el grado de rigidez de los salarios y se identifican, a continuación, los principales factores explicativos del mismo. El análisis aporta evidencia empírica sobre el grado de rigidez de los salarios en un amplio número de países de l'OCDE a partir de la estimación de ecuaciones de salarios en forma de curva de Phillips aumentada con expectativas. Los resultados obtenidos permiten afirmar que el mercado de trabajo español funciona de forma deficiente, con una elevada rigidez de los salarios, y en consecuencia, una incapacidad de los mismos para ayudar a l'ocupación a recuperarse ante una perturbación recesiva. En segundo lugar, el análisis de los factores explicativos de esta rigidez permito concluir que se podría conseguir una mayor flexibilidad salarial mediante l'actuación coordinada y consensuada de los agentes económicos y sociales en el proceso de negociación salarial, así como mediante políticas activas de mercado de trabajo, incidiendo sobre todo en el componente formación, o pasivas, reduciendo la duración de las prestaciones contributivas. Un tercer factor que permitiría obtener una mayor flexibilidad sería un desplazamiento del nivel de negociación hacia formas mucho mas centralizadas o, por el contrario, altamente descentralizadas

Fluctuaciones cíclicas y raíces unitarias en la economia española, 1850-1990

En este artículo se analiza el grado de persistencia de las fluctuaciones cíclicas en la economía española. En concreto, se estudia si el PIB y el PIB por capita de esta economía presentan una raíz unitaria. Con el fin de evitar el sesgo a aceptar raíces unitarias cuando se producen cambios en la función de tendencia, como el originado por la Guerra Civil española (1936-1939), se han aplicado varios contrastes que tienen en cuenta los cambios en la función de tendencia. Los resultados obtenidos muestran que existe una importante evidencia en el sentido que el logaritmo del PIB presenta una raíz unitaria. La principal implicación de este resultado es que los shocks sobre el producto tienen efectos permanentes en el nivel del PIB de la economía española, aun cuando esta hipótesis es más difícil de aceptar por el PIB por capita vista la evidencia contradictoria encontrada a favor de la misma.

Analyse comparative des ressources financières des partis politiques suisses

Les partis politiques ont comme vocation de structurer le débat démocratique et de constituer un trait d'union entre le citoyen et l'Etat. En Suisse, ils sont fortement sollicités en raison de l'importante quantité de scrutins organisés chaque année aux échelons communal, cantonal et national, mais leur organisation reste très peu professionnalisée. Comme ils doivent par ailleurs faire face à l'effritement de leur base partisane et à l'inflation des coûts de la politique, le risque est grand qu'ils soient mis en difficulté dans l'accomplissement de leur tâche d'intégration et de formation de l'opinion. Cette étude se concentre sur les pratiques de financement des partis cantonaux et nationaux du PDC, du PRD, du PS, de l'UDC et des Verts. S'appuyant sur les données empriques récoltées en 1997 et en 2007, elle décrit dans quelle mesure les moyens financiers des partis ont évolué au cours des dix dernières années. Les analyses portent sur le volume et l'origine des fonds et elles permettent notamment de saisir comment s'articulent les clivages en matière de financement. Die politischen Parteien haben die Aufgabe, die demokratische Debatte zu strukturieren und ein verbindendes Element zwischen dem Bürger und dem Staat zu bilden. In der Schweiz werden sie angesichts der grossen Anzahl jährlich auf kommunaler, kantonaler und nationaler Ebene durchgeführten Wahlgänge besonders stark beansprucht, ihre Organisationen sind aber wenig professionalisiert. Da sich die Parteien heute mit abnehmenden Parteienbindungen und steigenden Kosten der Politik konfrontiert sehen, steigt das Risiko, dass sie ihre Aufgaben der Integration und der politischen Meinungsbildung kaum mehr wahrnehmen können. Diese Arbeit konzentriert sich auf die Finanzierungspraktiken der kantonalen und nationalen Parteien CVP, FDP, SP, SVP und Grüne. Die Analysen stützen sich ab auf empirische Angaben zu Herkunft und Umfang der Parteifinanzen, die in den Jahren 1997 und 2007 erhoben wurden und erlauben es, die Unterschiede hinsichtlich der Finanzierung zu erläutern.

Acteurs sociaux et politique économique : la Colombie entre 1970 et 2000

Commençant par la compréhension du processus de prise de décisions en politique économique, puis par l'étude de la participation des Acteurs Sociaux (AS), pour aboutir à l'éclaircissement de leur rôle en politique économique. Le choix des AS correspond aux facteurs productifs :¦? Travail : Syndicat, Confédérations¦? Capital : Patronat, Groupes économiques¦? Ressources naturelles - inclus l'Economie clandestine¦? Esprit d'entreprise dans tous les AS¦Méthode : analyse institutionnelle, AS comme protagonistes. Contexte latino-américain et mondial (chapitre I), relation avec les Politiques (chapitre II), identification des positionnements face aux Politiques économiques (chapitre III). Etude sur deux périodes :¦1) Front National (FN) (1958-1986). Pacte de partis traditionnels pour l'obtention (non accomplie) de la paix et du développement. Objectif acquis via des politiques adéquates mais sans amélioration du domaine social (politique de revenu absente).¦En conséquence, développement des Cartels surpassant l'Intégration Andine. Echec des tentatives d'Ouverture précoce grâce aux Centrales syndicales (1977) aux Organisations patronales (1981), confirmant le bipartisme; crise de la dette sans cessations de paiements, ni décennie perdue (Colombie) ; développement des AS profitant d'absence de partis d'opposition.¦2) L'Ouverture (1989-2000) : Nouvelle Constitution avec amplifications de l'Etat, réformes financière, des échanges, sans sélectivité ni gradualité demandées par les AS. Emergence du blanchiment.¦Montée en puissance des Groupes économiques au détriment des Organisations patronales, (excepté les industriels), perte du lobbying syndical. Malgré des résultats positifs macro-économiques, les taux de chômage, secteur informel, et pauvreté, situent¦le pays au 2eme rang en concentration du revenu en Amérique latine et au 5eme rang mondial.¦Conclusion : les AS se sont mis en avant dans l'inflation (30% à 8%) et la dévaluation. Par contre, les taux d'intérêt et de change ont provoqué le crédit clandestin et la réévaluation avec ouverture aux importations ; pas de succès non plus sur le déficit fiscal ni la gestion des booms (café, drogues). La plupart des Politiques ont donc été décidées d'après la Banque centrale et le Ministère des finances confirmant la primauté du gouvernement sur les AS durant la période analysée.

Congenital diaphragmatic hernia: current status and review of the literature.

Treatment of congenital diaphragmatic hernia (CDH) challenges obstetricians, pediatric surgeons, and neonatologists. Persistent pulmonary hypertension (PPHT) associated with lung hypoplasia in CDH leads to a high mortality rate at birth. PPHT is principally due to an increased muscularization of the arterioles. Management of CDH has been greatly improved by the introduction of prenatal surgical intervention with tracheal obstruction (TO) and by more appropriate postnatal care. TO appears to accelerate fetal lung growth and to increase the number of capillary vessels and alveoli. Improvement of postnatal care over the last years is mainly due to the avoidance of lung injury by applying low peak inflation pressure during ventilation. The benefits of other drugs or technical improvements such as the use of inhaled nitric oxide or extracorporeal membrane oxygenation (ECMO) are still being debated and no single strategy is accepted worldwide. Despite intensive clinical and experimental research, the treatment of newborn with CDH remains difficult.

Perturbations on domain walls and strings: A covariant theory

A covariant formalism is developed for describing perturbations on vacuum domain walls and strings. The treatment applies to arbitrary domain walls in (N+1)-dimensional flat spacetime, including the case of bubbles of a true vacuum nucleating in a false vacuum. Straight strings and planar walls in de Sitter space, as well as closed strings and walls nucleating during inflation, are also considered. Perturbations are represented by a scalar field defined on the unperturbed wall or string world sheet. In a number of interesting cases, this field has a tachyonic mass and a nonminimal coupling to the world-sheet curvature.

Quantum fluctuations on domain walls, strings, and vacuum bubbles

We develop a covariant quantum theory of fluctuations on vacuum domain walls and strings. The fluctuations are described by a scalar field defined on the classical world sheet of the defects. We consider the following cases: straight strings and planar walls in flat space, true vacuum bubbles nucleating in false vacuum, and strings and walls nucleating during inflation. The quantum state for the perturbations is constructed so that it respects the original symmetries of the classical solution. In particular, for the case of vacuum bubbles and nucleating strings and walls, the geometry of the world sheet is that of a lower-dimensional de Sitter space, and the problem reduces to the quantization of a scalar field of tachyonic mass in de Sitter space. In all cases, the root-mean-squared fluctuation is evaluated in detail, and the physical implications are briefly discussed.

Black holes from nucleating strings

We evaluate the probability that a loop of string that has spontaneously nucleated during inflation will form a black hole upon collapse, after the end of inflation. We then use the observational bounds on the density of primordial black holes to put constraints on the parameters of the model. Combining these constraints with current upper limits on the expansion rate during inflation, we conclude that the density of black holes formed from nucleating strings is too low to be observed. Also, constraints on domain wall nucleation and monopole pair production during inflation are briefly discussed.

Nucleation rates in flat and curved space

Nucleation rates for tunneling processes in Minkowski and de Sitter space are investigated, taking into account one loop prefactors. In particular, we consider the creation of membranes by an antisymmetric tensor field, analogous to Schwinger pair production. This can be viewed as a model for the decay of a false (or true) vacuum at zero temperature in the thin wall limit. Also considered is the spontaneous nucleation of strings, domain walls, and monopoles during inflation. The instantons for these processes are spherical world sheets or world lines embedded in flat or de Sitter backgrounds. We find the contribution of such instantons to the semiclassical partition function, including the one loop corrections due to small fluctuations around the spherical world sheet. We suggest a prescription for obtaining, from the partition function, the distribution of objects nucleated during inflation. This can be seen as an extension of the usual formula, valid in flat space, according to which the nucleation rate is twice the imaginary part of the free energy. For the case of pair production, the results reproduce those that can be obtained using second quantization methods, confirming the validity of instanton techniques in de Sitter space. Throughout the paper, both the gravitational field and the antisymmetric tensor field are assumed external.

Recycling universe

If the effective cosmological constant is nonzero, our observable universe may enter a stage of exponential expansion. In such a case, regions of it may tunnel back to the false vacuum of an inflaton scalar field, and inflation with a high expansion rate may resume in those regions. An ideal eternal observer would then witness an infinite succession of cycles from false vacuum to true, and back. Within each cycle, the entire history of a hot universe would be replayed. If there were several minima of the inflaton potential, our ideal observer would visit each one of these minima with a frequency which depends on the shape of the potential. We generalize the formalism of stochastic inflation to analyze the global structure of the universe when this recycling process is taken into account.

Brane-world creation and black holes

An inflating brane world can be created from ``nothing'' together with its anti-de Sitter (AdS) bulk. The resulting space-time has compact spatial sections bounded by the brane. During inflation, the continuum of KK modes is separated from the massless zero mode by the gap m=(3/2)H, where H is the Hubble rate. We consider the analogue of the Nariai solution and argue that it describes the pair production of ``black cigars'' attached to the inflating brane. In the case when the size of the instantons is much larger than the AdS radius, the 5-dimensional action agrees with the 4-dimensional one. Hence, the 5D and 4D gravitational entropies are the same in this limit. We also consider thermal instantons with an AdS black hole in the bulk. These may be interpreted as describing the creation of a hot universe from nothing or the production of AdS black holes in the vicinity of a pre-existing inflating brane world. The Lorentzian evolution of the brane world after creation is briefly discussed. An additional ``integration constant'' in the Friedmann equation-accompanying a term which dilutes like radiation-describes the tidal force in the fifth direction and arises from the mass of a spherical object inside the bulk. In general, this could be a 5-dimensional black hole or a ``parallel'' brane world of negative tension concentrical with our brane-world. In the case of thermal solutions, and in the spirit of the AdS/CFT correspondence, one may attribute the additional term to thermal radiation in the boundary theory. Then, for temperatures well below the AdS scale, the entropy of this radiation agrees with the entropy of the black hole in the AdS bulk.

Many worlds in one

A generic prediction of inflation is that the thermalized region we inhabit is spatially infinite. Thus, it contains an infinite number of regions of the same size as our observable universe, which we shall denote as O regions. We argue that the number of possible histories which may take place inside of an O region, from the time of recombination up to the present time, is finite. Hence, there are an infinite number of O regions with identical histories up to the present, but which need not be identical in the future. Moreover, all histories which are not forbidden by conservation laws will occur in a finite fraction of all O regions. The ensemble of O regions is reminiscent of the ensemble of universes in the many-world picture of quantum mechanics. An important difference, however, is that other O regions are unquestionably real.

Cosmological perturbations from stochastic gravity

In inflationary cosmological models driven by an inflaton field the origin of the primordial inhomogeneities which are responsible for large-scale structure formation are the quantum fluctuations of the inflaton field. These are usually calculated using the standard theory of cosmological perturbations, where both the gravitational and the inflaton fields are linearly perturbed and quantized. The correlation functions for the primordial metric fluctuations and their power spectrum are then computed. Here we introduce an alternative procedure for calculating the metric correlations based on the Einstein-Langevin equation which emerges in the framework of stochastic semiclassical gravity. We show that the correlation functions for the metric perturbations that follow from the Einstein-Langevin formalism coincide with those obtained with the usual quantization procedures when the scalar field perturbations are linearized. This method is explicitly applied to a simple model of chaotic inflation consisting of a Robertson-Walker background, which undergoes a quasi-de Sitter expansion, minimally coupled to a free massive quantum scalar field. The technique based on the Einstein-Langevin equation can, however, deal naturally with the perturbations of the scalar field even beyond the linear approximation, as is actually required in inflationary models which are not driven by an inflaton field, such as Starobinsky¿s trace-anomaly driven inflation or when calculating corrections due to nonlinear quantum effects in the usual inflaton driven models.

Employment risk, unemployment insurance and search strategies: a disaggregated equilibrium approach with application to the Swiss labour market in the 1990-ies

The Organization of the Thesis The remainder of the thesis comprises five chapters and a conclusion. The next chapter formalizes the envisioned theory into a tractable model. Section 2.2 presents a formal description of the model economy: the individual heterogeneity, the individual objective, the UI setting, the population dynamics and the equilibrium. The welfare and efficiency criteria for qualifying various equilibrium outcomes are proposed in section 2.3. The fourth section shows how the model-generated information can be computed. Chapter 3 transposes the model from chapter 2 in conditions that enable its use in the analysis of individual labor market strategies and their implications for the labor market equilibrium. In section 3.2 the Swiss labor market data sets, stylized facts, and the UI system are presented. The third section outlines and motivates the parameterization method. In section 3.4 the model's replication ability is evaluated and some aspects of the parameter choice are discussed. Numerical solution issues can be found in the appendix. Chapter 4 examines the determinants of search-strategic behavior in the model economy and its implications for the labor market aggregates. In section 4.2, the unemployment duration distribution is examined and related to search strategies. Section 4.3 shows how the search- strategic behavior is influenced by the UI eligibility and section 4.4 how it is determined by individual heterogeneity. The composition effects generated by search strategies in labor market aggregates are examined in section 4.5. The last section evaluates the model's replication of empirical unemployment escape frequencies reported in Sheldon [67]. Chapter 5 applies the model economy to examine the effects on the labor market equilibrium of shocks to the labor market risk structure, to the deep underlying labor market structure and to the UI setting. Section 5.2 examines the effects of the labor market risk structure on the labor market equilibrium and the labor market strategic behavior. The effects of alterations in the labor market deep economic structural parameters, i.e. individual preferences and production technology, are shown in Section 5.3. Finally, the UI setting impacts on the labor market are studied in Section 5.4. This section also evaluates the role of the UI authority monitoring and the differences in the Way changes in the replacement rate and the UI benefit duration affect the labor market. In chapter 6 the model economy is applied in counterfactual experiments to assess several aspects of the Swiss labor market movements in the nineties. Section 6.2 examines the two equilibria characterizing the Swiss labor market in the nineties, the " growth" equilibrium with a "moderate" UI regime and the "recession" equilibrium with a more "generous" UI. Section 6.3 evaluates the isolated effects of the structural shocks, while the isolated effects of the UI reforms are analyzed in section 6.4. Particular dimensions of the UI reforms, the duration, replacement rate and the tax rate effects, are studied in section 6.5, while labor market equilibria without benefits are evaluated in section 6.6. In section 6.7 the structural and institutional interactions that may act as unemployment amplifiers are discussed in view of the obtained results. A welfare analysis based on individual welfare in different structural and UI settings is presented in the eighth section. Finally, the results are related to more favorable unemployment trends after 1997. The conclusion evaluates the features embodied in the model economy with respect to the resulting model dynamics to derive lessons from the model design." The thesis ends by proposing guidelines for future improvements of the model and directions for further research.