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on Central and South America |
|
Issue of 2014‒11‒22
eight papers chosen by |
| By: | Rubén Albeiro Loaiza Maya; José Eduardo Gómez-González; Luis Fernando Melo Velandia |
| Abstract: | A regular vine copula approach is implemented for testing for contagion among the exchange rates of the six largest Latin American countries. Using daily data from June 2005 through April 2012, we find evidence of contagion among the Brazilian, Chilean, Colombian and Mexican exchange rates. However, there are interesting differences in contagion during periods of large exchange rate depreciation and appreciation. Our results have important implications for the response of Latin American countries to currency crises originated abroad. |
| Keywords: | Exchange Rates, Contagion, Copula, Regular Vine, Local correlation. |
| JEL: | C32 C51 |
| Date: | 2014–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:col:000094:012105&r=lam |
| By: | Lee, Sang-Hyop (University of Hawaii at Manoa); Park, Donghyun (Asian Development Bank) |
| Abstract: | Broadly speaking, developing Asia and Latin America are at similar income and development levels. Relative to the advanced economies, economic growth and development are much more urgent priorities for both, yet Latin America has significantly more experience in using fiscal policy to tackle inequality and to promote inclusive growth. Therefore, its greater experience with inclusive fiscal policy can offer valuable lessons for developing Asia in its new-found quest to leverage public spending and taxation to spread the benefits of growth to the broader population. While the Latin American experience has general implications for Asia, of particular interest is its generally successful experience with conditional cash transfer (CCT) programs. Overall, the evidence suggests that CCT programs can be an effective tool for inclusive growth in Asia, too. However, CCTs are not a panacea for poverty and inequality, and the ingredients for their success in Asia may differ from those in Latin America. |
| Keywords: | fiscal policy in Latin America; conditional cash transfer; social protection |
| JEL: | H50 H53 I38 |
| Date: | 2014–10–28 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbewp:0408&r=lam |
| By: | NU. CEPAL. División de Asuntos de Género |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col040:35903&r=lam |
| By: | Leonardo Fabio Morales; Lina Marcela Cardona-Sosa |
| Abstract: | Using data from Medellín, second largest city in Colombia, we asses in this paper how a set of neighborhood characteristics determines wages and labor supply for workers in the city. We use GIS data to construct measures of the quality of environments where workers live. This paper focuses in the impact in labor supply and wages of the following set of characteristics: availability of public transportation, crime levels and density of economic activity. The empirical methodology consist of the estimation of linear equations for wages and worked hours, and we control for the selection of individuals into the neighborhoods they are observed. In order to do this we estimate in a first stage a probabilistic model of neighborhood selection from which selection correction terms are obtained; these correction terms and included in the linear equations for wage and worked hours in a second stage. In addition, we control for sample selection as well. We find that the endogeneity of the location decision tends to overestimate the magnitude of the effect of neighborhood characteristics on labor market outcomes. Nevertheless, the effect of some characteristics is still significant and important after we control for the possibility of selection into neighborhoods. |
| Keywords: | Labor Economics, Labor Supply, Urban Analysis, Housing Demand. |
| JEL: | J01 J22 O18 R21 |
| Date: | 2014–09–11 |
| URL: | http://d.repec.org/n?u=RePEc:col:000094:012163&r=lam |
| By: | Marcos Yamada Nakaguma; Brandon Restrepo |
| Abstract: | We analyze the impact of Election Day alcohol bans on road traffic accidents, traffic-related injuries, and alcohol-related hospitalizations. Our analysis focuses on the 2012 Municipal Elections in Brazil, during which 11 out of 27 states imposed on its 2,733 municipalities the decision to implement alcohol bans. Using daily-level data on municipalities, we find that alcohol bans caused substantial reductions in road crashes (15%), traffic-related injuries (30-70%), and traffic-related hospital admissions (18%). An analysis of the hospitalization costs associated with traffic accidents reveals that banning the sale of alcohol saved Brazil’s healthcare system $150,000 per day, which is likely to be a lower bound of the total societal cost savings. Using this figure as a benchmark, we estimate the total cost savings to be up to $1 million for a one-day ban on alcohol. |
| Keywords: | Alcohol; ban; election; drunk driving; traffic accident; road crash; hospitalization, hospital admission; cost analysis |
| JEL: | I12 I18 |
| Date: | 2014–10–22 |
| URL: | http://d.repec.org/n?u=RePEc:spa:wpaper:2014wpecon21&r=lam |
| By: | Jorge Mario Uribe Gil; Inés María Ulloa Villegas |
| Keywords: | Burbujas Especulativas, Caminatas Aleatorias, Test de Signo, Razones deVarianza, Mercados Financieros en Colombia |
| Date: | 2013–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:col:000149:012175&r=lam |
| By: | Karina Acosta; Julio Romero P. |
| Abstract: | Este documento estima la reducción de la esperanza de vida al nacer y la pérdida de años de vida productivos, debido a las principales causas de muertes en Colombia. Asimismo, se calculó la probabilidad de muerte por causas y cuando se alcanzan ciertos grupos de edad. Estos ejercicios fueron basados en tablas de vida con múltiples causas de salida y utilizando escenarios hipotéticos de eliminación de causas de muertes. Se encontró que entre 1990 y 2012 se han experimentado notables cambios en el perfil epidemiológico, así como el aumento de la esperanza de vida, esta presenta un rezago de veinte años en comparación con países más desarrollados. En los últimos años, las enfermedades del sistema circulatorio se han convertido en el mayor factor explicativo de la reducción de la esperanza de vida al nacer. En los hombres, cobra importancia los homicidios y otras causas externas, las cuales son el principal factor de riesgo de muerte en las edades más productivas.*****ABSTRACT: In this document we estimate the reduction of the life expectancy at birth and the productive years of potential life lost due to the leading causes of death in Colombia. Likewise, we calculate the probability of death by causes and age groups. We apply two methods, multiple decrement life tables and cause deleted life tables. The results exhibit conspicuous changes in epidemiological pattern. Nevertheless, Colombia lags behind developed countries in life expectancy rate. Over the last few years, circulatory system diseases have become the major factor explaining the reduction of life expectancy at birth. In the case of males, homicides and other external causes are the main risk factors during their most productive years. |
| Keywords: | demografía formal, proceso de múltiples causas de salida, eliminación de causas por tablas de vida, esperanza de vida, Colombia. |
| JEL: | I10 J10 J11 |
| Date: | 2014–10–08 |
| URL: | http://d.repec.org/n?u=RePEc:col:000102:012216&r=lam |
| By: | Carsten Fink (Economics and Statistics Division, World Intellectual Property Organization, Geneva, Switzerland.); Christian Helmers (Santa Clara University, United States of America); Carlos Ponce (ILADES-Universidad Alberto Hurtado, Santiago de Chile, Chile) |
| Abstract: | This paper explores the phenomenon of “trademark squatting” – a situation in which someone other than the original brand owner obtains a trademark on a brand. We develop a model that shows how squatting results from market uncertainty that leads brand owners to rationally forgo registering trademarks, creating opportunities for squatting. We create an algorithm to identify squatters in the Chilean trademark register and show empirically that squatting is a persistent and systematic phenomenon. Using data on trademark oppositions, we find that squatting leads brand owners that have been exposed to squatting to “over-protect” their brands by registering disproportionately many trademarks and covering classes other than those directly related to their products and services. Trademark squatting, therefore, creates a strategic, albeit excessive, response by brand owners which inflates trademark filings. |
| Keywords: | trademark, squatter, strategic behavior, Chile. |
| JEL: | D22 M30 K11 O34 |
| Date: | 2014–09 |
| URL: | http://d.repec.org/n?u=RePEc:wip:wpaper:22&r=lam |