In modern corporations, ownership is typically separate from control. Given that employees are motivated by self interest, incentive problems arise. Employees are disciplined, in part, by their ...career concerns. Employees' compensation depends on their reputations-the labor market's beliefs about their future productivity. The labor market learns about the employees' future productivity by observing their performance. Therefore, when the employees decide their actions, they care about their performance (and the performance of the firms they work for) because their performance influences their reputation. However, career concerns do not necessarily eliminate the inefficiencies created by the separation of ownership and control. PUBLICATION ABSTRACT
The politics of sovereign defaults Hatchondo, Juan Carlos; Martinez, Leonardo
Economic quarterly - Federal Reserve Bank of Richmond,
06/2010, Letnik:
96, Številka:
3
Journal Article
Sovereign debt issuance and repayment decisions are determined by public officials and may thus be affected by issues such as the proximity of elections; conflicts between the executive branch and ...the parliament; institutional breakdowns such as military coups; etc. This article first discusses theoretical and empirical studies about the role of political factors in sovereign default episodes. They conclude with a brief description of the role of political turnover in five recent default episodes: Argentina 2001, Ecuador 1998, Pakistan 1998, Russia 1998, and Uruguay 2003. They argue that if a creditor-friendly government was replaced by a debtor-friendly government at the time of the default, the level of political risk computed by the International Country Risk Guide should be lower in the years before the default than in the years after the default. They find that only in Argentina is the level of political risk systematically lower in the years before the default than in the years after the default.
The recent rise in income inequality in the US has received considerable attention in policy debates. This article discusses individual income inequality trends. Furthermore, the article documents ...periods characterized by a decline in real income for lower income groups. The authors show that this increase in inequality is explained mainly by an increase in inequality at the top of the income distribution. Significant increases in inequality within lower incomes are only observed during the 1980s. They also explain that welfare inequality may have increased less than income inequality. Finally, they show that the recent period of increasing inequality followed a period of decreasing inequality since World War I, which in turn followed a period of increasing inequality in the 19th century.
Vaccines have been one of the best weapons against diseases that have affected humanity for years, their development has allowed the eradication of important epidemics such as smallpox in 1980. ...Previously, complete microorganisms, or parts of them, were used to fight a disease. Nowadays vaccines make use of more sophisticated components such as genetic material and/or viral vectors. However, although technology in vaccine development has increased considerably in recent years, there are still limitations for the treatment of diseases caused by viruses such as HIV and complex diseases that are difficult to address such as systemic lupus erythematosus and cancer. This article briefly describes an overview of such diseases and the current trend of directing the immune response by vaccinating cells, not people. The importance of dendritic cells and the new technologies that have emerged in recent years are highlighted.
En el estado de Guerrero, México, los begomovirus Okra yellow mosaic Mexico virus (OYMMV) y Whitefly-asssociated begomovirus 3 (WfaBV3) se han encontrado asociados al cultivo de jamaica (Hibiscus ...sabdariffa L.). El objetivo de este estudio fue conocer si OYMMV y WfaBV3 pueden infectar malezas presentes en cultivos comerciales de esta especie y si se transmiten por semilla. En 2016, se recolectaron plantas de jamaica y malezas con síntomas de amarillamiento y mosaico en Guerrero. Se extrajo DNA total y se realizó PCR con iniciadores universales para begomovirus y específicos para el gen 18s rRNA como control interno. Las muestras positivas se analizaron posteriormente con iniciadores específicos para OYMMV y WfaBV3. Cien semillas de jamaica y de malezas que presentaban síntomas se analizaron por PCR para begomovirus; cien semillas de cada cultivar de jamaica y 40 semillas de cada maleza se sembraron en almácigos para obtener plántulas. Hojas jóvenes de las plántulas de jamaica se analizaron por PCR después de la amplificación de DNA por círculo rodante. En plantas maduras de jamaica se detectó a WfaBV3 y OYMMV. En Sida collina, S. aggregata, S. acuta, S. haenkeana y Malacra fasciata se detectó al OYMMV en planta madura, semilla y plántulas. Este es el primer reporte de cuatro nuevos hospedantes del OYMMV y su transmisión por semilla.
Com objetivo de determinar o consumo e a digestibilidade in vivo, bem como a composição química de dietas com níveis crescentes (0, 50 e 100%) de feno de catingueira (FC), utilizaram-se 15 ovinos ...Morada Nova, durante um período de 22 dias. Foi usado delineamento inteiramente casualizado com três tratamentos e cinco repetições. O FC apresentou 91,5% de matéria seca (MS), 93,89% de matéria orgânica (MO), 11,25% de proteína (PB), 4,31% de extrato etéreo (EE), 45,47% de fibra em detergente neutro (FDN), 37,08% de fibra em detergente ácido (FDA), 8,39% de hemicelulose (HE), 24,37% de celulose (CE), 12,52% de lignina e 6,30% de tanino condensado. Os consumos de MO e MS, em g/dia, g/kg0,75 e %PV; energia bruta (EB), em kcal/kg/dia e kcal/kg0,75; e dos componentes da parede celular foram reduzidos linearmente pelo aumento de FC na dieta. Os consumos de PB, proteína digestível (PD) e EE aumentaram linearmente com o aumento do FC na dieta. Os coeficientes de digestibilidade da MS, MO, PB e EB das dietas não foram afetados pela inclusão do FC. No entanto, observou-se redução linear para os coeficientes de digestibilidade da FDN, FDA, CE e EE e efeito quadrático para o coeficiente de digestibilidade da HE. Os consumos médios de MS e PB verificados nos níveis intermediários de FC atenderam as exigências de mantença dos animais.
Fifteen male castrated sheep were used during a period of 22 days to determine the bromatological composition, intake and in vivo digestibility of diets with increasing levels (0, 50 and 100%) of "catingueira" hay (CH). A completely randomized experimental design with three treatment and five replications was used. "Catingueira" hay presented a 91.5% dry matter (DM), 93.89% organic matter (OM), 11.25% crude protein (CP), 4.31% ether extract (EE), 45.47% neutral detergent fiber (NDF), 37.08% acid detergent fiber (ADF), 8.39% hemicellulose (HE), 24.37% cellulose (CE), 12.52% lignin, 1.86% silica and 6.30% condensed tannin. The increased CH levels in the diet linearly reduced the intakes of OM and DM (express in g/day, g/kg.75 and %LW), of gross energy (GE) (express in kcal/kg.day and kcal/kg0,75) and of the cell wall components were. The intakes of CP, digestible protein (DP) and EE linearly increased as CH levels increased in the diet. The coefficients of digestibility of the DM, OM, CP and CE were not affected ed by inclusion of CH. However, a negative linear effect was observed for the coefficients digestibility of the NDF, ADF, CE and EE and a quadratic effect for the coefficient of digestibilities of HE. The average intake of DM and CP observed in the intermediate levels of CH attained the maintenance requirements of the animals.
This
article
exposes
the
results
of
an
investigation
whose
objective
was
to
characterize
the
development
of
critical
thinking
in
a
group
of
middle
school
students
in
an
institution
of
...Bogota-‐Colombia
whose
curriculum
proposal
is
guided
by
precepts
of
Popular
Education.
This
characterization
was
based
on
the
research
model
proposed
by
Paulo
Freire.
The
methodology
was
critic-‐qualitative
and
included
gathering
information
through
field
diary
and
written
and
audio
records
made
with
students.
The
results
and
analysis
evince
improvement
in
recognizing
the
student’s
context;
furthermore,
the
proper
contests
of
the
area
Natural
Sciences
through
the
thematic
research
and
generators
topics
proposed
by
Freire,
and
through
which
valuable
items
are
recognized
in
the
construction
of
empowered
subjects
of
their
educational
process,
and
the
dynamics
of
their
community
from
the
scientific
explanation
of
the
phenomena
of
their
environment
En
este
artículo
se
presentan
los
resultados
de
una
investigación
cuyo
objetivo
consistió
en
caracterizar
el
desarrollo
de
pensamiento
crítico
en
un
grupo
de
estudiantes
de
Educación
Media
en
una
Institución
de
Bogotá-‐Colombia,
cuya
propuesta
curricular
se
orienta
por
preceptos
de
la
Educación
Popular.
Dicha
caracterización
se
realizó
a
partir
de
la
implementación
de
la
investigación
temática
propuesta
por
Paulo
Freire.
La
metodología
empleada
fue
cualitativa
crítica
y
abarcó
la
recolección
de
información
a
través
de
diario
de
campo
y
registros
escritos
y
de
audio
realizados
con
los
estudiantes.
Los
resultados
y
análisis
evidencian
el
mejoramiento
en
el
reconocimiento
del
contexto
del
estudiantado,
además
de
ver
los
contenidos
propios
del
área
de
Ciencias
de
la
Naturaleza
a
través
de
la
investigación
temática
y
los
temas
generadores
propuestos
por
Freire,
a
través
de
los
cuales
se
reconocen
elementos
valiosos
en
la
construcción
de
sujetos
empoderados
de
su
proceso
educativo
y
de
las
dinámicas
propias
de
su
comunidad
desde
la
explicación
científica
de
los
fenómenos
de
su
entorno.
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