The Federal deficit : does it measure the government's effect on national saving?

Includes bibliographical references.

Assessing the decline in the national saving rate.

S/N 052-070-06873-6 (GPO)

Heterogeneity, saving-investment dynamics and capital mobility in Latin America

The purpose of this paper is to analyze the dynamics of national saving-investment relationship in order to determine the degree of capital mobility in 12 Latin American countries. The analytically relevant correlation is the short-term one, defined as that between changes in saving and investment. Of special interest is the speed at which variables return to the long run equilibrium relationship, which is interpreted as being negatively related to the degree of capital mobility. The long run correlation, in turn, captures the coefficient implied by the solvency constraint. We find that heterogeneity and cross-section dependence completely change the estimation of the long run coefficient. Besides we obtain a more precise short run coefficient estimate compared to the existent estimates in the literature. There is evidence of an intermediate degree of capital mobility, and the coefficients are extremely stable over time.

Pension system reforms, the capital market and saving

Includes bibliography

O circuito finance-investimento-poupança- funding em economias abertas

The finance-investment-savings-funding circuit in open economies. On monetary economies the Finance-Investment-Savings-Funding circuit (F-I-S-F) prevails. Investment precedes savings. This circuit was worked out for a closed economy. This study seeks to demonstrate that the circuit F-I-S-F also prevails for open economies. A second point studied in this paper relates the relationship between budget deficits and savings restriction for investment. Conclusions highlight that the circuit F-I-S-F prevails for open economies and that budget deficits do not cause savings restriction for investment. In some situations budget déficits transfer the effects of investment for national savings formation from domestic economy to the rest of the world.

Déficits gêmeos e poupança nacional: abordagem teórica

A consensus has not yet emerged about the relationship between budget deficit, external deficit and national saving. According to mainstream economic literature the budget deficit can cause an insufficiency of national saving for a given investment rate. In this case, the investment rate will not be reduced if foreign saving is absorbed, causing an external deficit. In general, the mechanisms through which budget deficits could cause current account deficits are not highlighted in the works about this theme. We arrive at the conclusion that there is not a systematic relationship between budget deficit, current account deficit and national saving and that when it happens it can be processed only through changes in the real exchange rate.

Economic growth in Latin America and the Caribbean: growth transitions rather than steady states

Includes bibliography

Capital movements and external financing

Includes bibliography

The interplay of macro- and microeconomics

The statement starts with a balance of the 15-years period of the economic reforms occurred in the region, up to the Mexican financial crisis in 1995. The main lesson to be drawn from this period refers to the need of supplementing and reinforcing macro-economic policy, together with the application of public policy measures at the micro-, meso-, and institutional levels, in order to support productive modernization, the development of financial and labour markets and the establishment or strengthening of institutions which can help to create an environment conducive to development. Further on, the statement explains the strategies proposed by ECLAC for overcoming the obstacles to accelerated growth within a framework of stability, social equity and democracy. These refer to expanding gross domestic product, increasing productivity and providing more and better jobs. In order to achieve this goal it is necessary to ensure macroeconomic equilibria in its broader sense, raise the level of national saving and channel it into productive investment, as well as an accelerated and systematic incorporation of production and management techniques designed to raise productivity in a growing number of firms. In the last part, the statement refers to the situation of the United Nations and honors the memory of Dr. Raúl Prebisch, on the tenth anniversary of his death.

An appraisal of a quarter-century of structural pension reforms in Latin America

Includes bibliography

Stylized features of the investment-growth connection in Latin America, 1980-2012

Estimates of investment and its components in Latin America over the past 30 years are used to review stylized facts relating to investment and explore factors that explain its connection with economic growth. In particular, the low level of investment, the reduction in public spending in the 1980s and its partial recovery along with private investment between 2003 and 2010 are explored. It is found that the increase in national income —on the back of rising terms of trade— made it possible to increase national saving and its contribution to financing investment between 2004 and 2008. The analysis of causality between the investment ratio and growth in gross domestic product (gdp) suggest that —for a considerable number of Latin American countries— changes in the growth rate have preceded changes in the investment ration in the period under study.

Saving, productivity and national income: a discrete-time geometric framework

This paper proposes an alternative geometric framework for analysing the inter-relationship between domestic saving, productivity and income determination in discrete time. The framework provides a means of understanding how low saving economies like the United States sustained high growth rates in the 1990s whereas high saving Japan did not. It also illustrates how the causality between saving and economic activity runs both ways and that discrete changes in national output and income depend on both current and previous accumulation behaviour. The open economy analogue reveals how international capital movements can create external account imbalances that enhance income growth for both borrower and lender economies. (C) 2002 Elsevier Science B.V. All rights reserved.

Structured training in intraosseous infusion to improve potentially life saving skills in pediatric emergencies - Results of an open prospective national quality development project over 3 years

BACKGROUND: Children in emergencies need peripheral intravenous (IV) access in order to receive drugs or fluids. The success of IV access is associated with the age of patients and fails in up to 50% of children younger than 6 years. In such situations, it is essential that physicians and paramedics have a tool and easily learnable skills with a high chance of success. According to international guidelines intraosseous (IO) access would be the next step after failed IV access. Our hypothesis was that the success rate in IO puncturing can be improved by standardizing the training; so we developed an IO workshop. METHODS: Twenty-eight hospitals and ambulance services participated in an evaluation process over 3 years. IO workshops and the distribution of standardized IO sets were coordinated by the study group of the University Hospital of Berne. Any attempted or successful IO punctures were evaluated with a standardized interview. RESULTS: We investigated 35 applications in 30 patients (a total of 49 punctures) between November 2001 and December 2004. IO puncture was not successful in 5 patients. The success rate depended neither on the occupation nor the experience of users. Attendance at a standardized IO workshop increased the overall success rate from 77% to 100%, which was statistically not significant (P = 0.074). CONCLUSIONS: Standardized training in IO puncturing seems to improve success more than previous experience and occupation of providers. However, we could not show a significant increase in success rate after this training. Larger supranational studies are needed to show a significant impact of teaching on rarely used emergency skills.

The effectiveness of the 55 mph national maximum speed limit as a life saving benefit. Executive summary.

Mode of access: Internet.