Business cycle asymmetries: Loss aversion, sticky prices, and wages

In this chapter, the Smets-Wouters (2003) New Kenesian model is reformulated by introducing the loss aversion utility function developed in chapter two. The purpose of this is to understand how asymmetric real business cycles are linked to asymmetric behavior of agents in a price and wage rigidities set up. The simulations of the model reveal not only that the loss aversion in consumption and leisure is a good mechanism channel for explaining business cycle asymmetries, but also is a good mechanism channel for explaining asymmetric adjustment of prices and wages. Therefore the existence of asymmetries in Phillips Curve. Moreover, loss aversion makes downward rigidities in prices and wages stronger and also reproduces a more severe and persistent fall of the employment. All in all, this model generates asymmetrical real business cycles, asymmetric price and wage adjustment as well as hysteresis.

Extra activities for the English class in the first cycle of Primary School. 'Actividades extra para la clase de inglés del primer ciclo de Educación Primaria'.

Resumen basado en el de los autores. Trabajo al que se le concedió una ayuda para la creación de materiales curriculares interactivos en el año 2003

High and steady or low and rising? : vocational versus general education in life-cycle earnings. 'Alto y estable o bajo y en alza? : formación profesional versus general en los ingresos del ciclo de vida'.

Resumen basado en el de la publicación

The drop goes plop : a first look at the water cycle.

Mamá y su bebé gaviota siguen el viaje épico de una gota de agua desde la formación de las nubes hasta la caída de la gota. Proporciona una primera introducción al ciclo del agua y se acompaña de distintas actividades para realizar en clase y que ayudan a los niños a comprenderlo. Por su tamaño, es idóneo para debates en grupo y lectura compartida. Al final hay un pequeño glosario.

Saving water : the water cycle.

La importancia del ahorro de agua sigue siendo una cuestión fundamental para el futuro. Este titulo ofrece un enfoque nuevo para ayudar a los lectores a realizar sus propios experimentos y actividades para aprender más sobre el agua: sus propiedades, su ciclo, agua potable, aguas superficiales y subterráneas. Tiene glosario, bibliografía y direcciones web.

The undergraduate level (1st study cycle) as a fundamental platform/ standard for the development of Urban and Regional Planning in higher education programs

The ongoing reforms, which were introduced under the Bologna Process and have already been extended outside of Europe , are a unique opportunity for reinforcing and structuring a common platform of understanding among members, based on the full time undergraduate courses in ( Urbanismo) Urban and Regional Planning. The training programs at this 1st cycle level, will obviously continue with the 2nd and 3rd cycles (Bachelor's Degree, Master's Degree and PhD Degree or 3+2+3 years). The training programs at this full time 1st cycle level, can also becomes the framework of understanding for the development of research in the urban fields at national and international levels.

Adjusting to a credit cycle bust: The role of fiscal policy. CEPS Commentary, 27 July 2012

In response to the often-heard accusation that “austerity is killing growth in Europe”, Daniel Gros asks in this new Commentary: “What austerity?” Looking at the entire budget cycle, he finds that the picture of austerity killing growth simply does not hold up. Since the bursting of the bubble in 2007, Gros reports that the economic performance of the US has been very similar to that of the euro area: GDP per capita is today about 2% below the 2007 level on both sides of the Atlantic; and the unemployment rate has increased by about the same amount as well: it increased by 3% both in the US and the euro area. Thus, he concludes that over a five-year period, the US has not done any better than the euro area although it has used a much larger dose of fiscal expansion.