Cost of Equity Capital and Additionality of Brazilian Renewable Energy Projects Under the Clean Development Mechanism

The purpose of this study was to assess additionality and the practice of estimating the cost of equity capital in 70 renewable energy projects in Brazil. Forty projects demonstrated additionality by means of financial analysis. No strong or clear relationships were found between project characteristics and the financial method used to demonstrate additionality. Among projects that used financial analysis, the evaluation often employed the risk-free rate. Failure to add any risk premium to projects of this nature suggests a certain analytical carelessness, perhaps induced by the innovative or experimental nature of these projects.     

Labor Reform in Mexico,Analysis of Principal Changes and Method of Recruitment

Actually, the country＇s development aims to achieve higher levels of productivity, so it had to adapt to international standards. This has served to ease the hiring of both operational and managerial controls, giving emphasis on training and allowing the pairing boss-worker to take the productivity like benchmark. The labor reform allows companies to make changes with their workers; such changes must be reflected in lower costs for businesses, by labor input and increased competitiveness, however, two years ago this guideline was implanted and society asks if the results are congruent, because Mexican society is undergoing economics problems issue as well as a deficit in generating jobs. Therefore, analyzing whether modifications made to the federal labor law （FLL） are designed to optimize safety of workers and enterprises in which they work is the subject of this research. The corresponding analysis was performed using the deductive method.     

Time spent on erythropoietin stimulating agents administration in hemodialysis centers in Panama: a time and motion study

Objectives: There is a lack of data in Panama on the potential differences in total healthcare professional (HCP) time between routine administrations of short-acting erythropoietin simulating agents (ESAs) (i.e. epoetin alfa) and continuous erythropoietin receptor activator (CERA) (i.e. methoxy polyethylene glycol–epoetin beta). This study aimed to quantify the HCP time associated with a single administration of epoetin alfa and CERA for the treatment of anemic patients with chronic kidney disease (CKD) on hemodialysis.

Methods: This was a multi-center, cross-sectional study, using a time-and-motion methodology. Costs related to HCP time and consumables usage associated with administration of epoetin alfa and CERA were estimated.

Results: Based on 60 administrations of either CERA or epoetin alfa, the estimated savings in mean total active HCP time were 2.34 (95% confidence interval?=?1.87–2.81) min (–30%) per administration. When extrapolating to a full year’s treatment with intravenous ESA, it would require a total of 20.3 (95% CI?=?19.90–20.71) h of HCP time for epoetin alfa vs 1.1 (95% CI?=?1.01–1.19) h for CERA per patient per year. Estimated savings in active HCP time per patient per year were 19.20 (95% CI?=?19.20–19.21) h (–95%). This, in turn, translates into staff cost efficiency that favors Mircera with an estimated annual saving of $78.24 (95% CI?=?78.24–78.28) (–95%) per patient.

Conclusions: Data from a real-world setting showed that the adoption of CERA could potentially lead to a reduction in active HCP time.

• Highlights

• Few comparative data have explored the costs and potential savings of using long-acting erythropoietin–stimulating agents (ESA) instead of short-acting ESAs to treat anemia in CKD patients on hemodialysis.

• This time-and-motion study shows that use of CERA reduces total healthcare professional time and could represent a save for an institution in a real-world setting in Panama.

     

The importance of advertising skepticism for brand extension appeals

According to existing research, ad persuasiveness decreases as advertising skepticism (i.e., the tendency to disbelieve advertising claims) increases. What remains unclear, however, is whether or not this effect extends to brand extension appeals. We suggest that the effect may vary according to brand extension similarity. Three studies test this assertion while providing process evidence and boundary conditions for the proposed effect. According to the findings, consumers automatically transfer associations from parent brands to highly similar extensions or automatically block these associations in the case of highly dissimilar extensions—reducing the impact of advertising skepticism on ad persuasiveness. At moderate levels, however, extension similarity is less predictive of the transfer process, increasing the negative effect of advertising skepticism on persuasion. Consistent with this account, the results identify brand transfer (i.e., the ability of the parent brand to make the extension) as the underlying mechanism explaining the advertising skepticism effect for moderately similar brand extension appeals. Furthermore, the results show how marketers can reduce these effects, and increase extension success, by emphasizing extension attributes that are shared with the parent brand. Collectively, these results provide a unique theoretical view, improving our understanding of advertising skepticism and the drivers of brand extension success.     

Using capabilities to project growth, 2010–2030

We forecast average annual GDP growth for 147 countries for 2010–2030. We use a cross-country regression model where the long-run fundamentals are determined by the countries’ accumulated capabilities and the capacity to undergo structural transformation.     

Inflation,growth, and distribution: The Brazilian economy after the post war

Abstract

Following Marglin and Bhaduri (1990 Marglin, S.A., and Bhaduri, A. “Profit Squeeze and Keynesian Theory.” In S.A. Marglin and J. Schor (eds.), The Golden Age of Capitalism. Reinterpreting the Postwar Experience. Oxford: Clarendon, 1990. [Google Scholar]), the purpose of this paper is to investigate empirically the interaction between income distribution and growth of aggregate demand during the 1951–89 period in Brazil. Applying Hein and Vogel’s (2008) methodology we conclude that the Brazilian economy showed a profit-led demand regime. In a context of high inflation, high concentration of markets, and wage control, retained profits were the main source to finance new capital. In this sense, we found a large sensitivity of investment relative to the wage share, a result that is compatible with a consumption pattern based on high income, which supported the growth trend with low wages observed during the period.     

Inside the Organizational Institutions of Institutional Economics: Why Are There Two Institutionalist Associations?

The institutionalist-inspired Association for Evolutionary Economics (AFEE), officially founded in 1965, was the first heterodox association to break with the American Economic Association (AEA). In 1979, another institutionalist association, the Association for Institutional Thought (AFIT), was founded. Using mainly archival evidence, this paper provides historical reasons for the presence of two institutionalist associations.     

Functional and productive dependence: new characteristics for the analysis of enterprises from a macroeconomic view

This article introduce two new characteristics of firms, which are important, from a macroeconomic view, to evaluate the roll of entrepreneurial tissue in the territorial economic growth: functional dependence and productive dependence. An empirical analysis has been formulated in order to contrast the importance of these entrepreneurial characteristics, and try to show its relation with territorial economic growth.     

A Problem with Some Estimations and Interpretations of the Mark-up in Manufacturing Industry

This paper evaluates the methodological foundations of some recent attempts to estimate econometrically the degree of market power and the degree of returns to scale in manufacturing. The method discussed is based on estimating the aggregate production function in growth rate form. It is argued, following an argument made in another context by Phelps Brown, Shaikh & Simon, that as the data used in empirical analyses are in value terms (i.e. monetary values at constant prices), the parameter derived as a mark-up can be reinterpreted simply as a coefficient from the income accounting identity, which takes a value of unity subject to omitted variable bias. Thus, it cannot be unambiguously interpreted as a mark-up. It is also shown that the large estimates of the degree of increasing returns to scale are similarly flawed. The argument also has implications for understanding cyclical fluctuations of the Solow residual, which turns out to be largely the result of the procyclical fluctuations of the profit rate.We conclude by questioning whether the aggregate production function can ever be statistically tested or, in other words, whether it is capable of being refuted, as opposed to its parameters being merely estimated.