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This paper investigates the sensitivity of Latin American GDP growth to external developments using a Bayesian VAR model with informative steady-state priors. The model is estimated on quarterly data from 1994 to 2006 on key external and Latin American variables. It finds that 50 to 60 percent of the variation in Latin American GDP growth is accounted for by external shocks. Conditional forecasts for a variety of external scenarios suggest that Latin American growth is robust to moderate declines in commodity prices and U.S. or world growth, but sensitive to more extreme shocks, particularly a

Altres ajuts: Acord transformatiu CRUE-CSIC ; Pro-environmental behaviors (PEBs) have been linked in the literature to social norms, intrinsic motivation and external conditions. However, no study has jointly analyzed these factors on a cross-country dataset and given a holistic explanation of the variance observed in the adoption rates of PEBs across countries. Using a dataset measuring individual adoption of eight PEBs in the European Union's 28 member states (in 2018), we econometrically test these three groups of factors on a wider scale. We assess the importance of intrinsic motivation as a dominant factor and show how differing levels of intrinsic motivation influence the effectiveness of external conditions, such as monetary incentives and green infrastructures. The results suggest that two-pronged policies, which take into account intrinsic motivation and external conditions, are needed to reach a high observance rate in the population in the short and in the long term. The wider significance of these results for policy is discussed.

A key issue for ecological economics concerns the processes whereby people engage in ecologically responsible behavior and contribute to environmental quality even when they involve a personal cost for a shared benefit. This paper explores the relative impact of intrinsic motivation versus external conditions and economic incentives on eight pro-environmental behaviors (PEBs). Previous research has mostly focused on one of these two aspects or studied whether external incentives can crowd out moral motivation. More comprehensive accounts of the interplay of these factors are rare and mostly dated or report small-scale experiments and case studies. Using a data set measuring PEBs and environmental attitudes in the European Union's 28 member states, this paper tests both sets of variables on a wider scale. It assesses the importance of intrinsic motivation as a dominant factor and shows how differing levels of intrinsic motivation influence the effectiveness of external conditions, such as monetary incentives and green infrastructures. External incentives are found to interact positively with intrinsic motivation. The findings also suggest that the influence of external factors varies depending on whether the behavior examined is cost neutral or implies costs or rewards. We further show that other non-strictly-related factors can affect the salience of an environmental norm and consequently the adoption of the corresponding behavior. Pressing economic preoccupations can distract individuals from behaving pro-environmentally, and PEBs are more likely to arise in individuals who care about the future. The results suggest that two-pronged policies, which take into account intrinsic motivation and external conditions, are needed to reach a high observance rate in the population in the short and in the long term. The wider significance of these results for environmental policy and policy guidance for each of the eight PEBs is discussed.

AbstractLocal governments nationwide have been adopting a variety of sustainability practices in the absence of strong federal guidance. The collection of these practices, which differ in design, forms the local government's sustainability strategy. Some local governments may develop a more focused sustainability strategy to achieve more predictable environmental benefits around a narrower array of environmental issues. By contrast, other local governments are developing a more comprehensive sustainability strategy that is more broadly focused to address complex, interconnected environmental issues. However, the external conditions that give rise to these different strategies is not well understood. Drawing on data for more than 950 U.S. municipal governments, this study provides important evidence that local governments' comprehensive sustainability strategies are influenced more by their community contituents and external environmental settings, with greater pressures in particular from constituents in new economy industries and environmental NGOs. These strategies are also more strongly related to higher disaster risk in the external environmental setting than more focused sustainability strategies. These findings broaden our understanding about why local governments' sustainability strategies differ in their design, which may provide a starting point for understanding how different sustainability strategies relate to actual environmental performance outcomes.

We assess the heterogeneous impact of economic downturns on individuals' decisions to bring high-technology ideas to the market in the form of new ventures. We thereby examine how worsening labor market conditions influence individuals' opportunity costs of starting new ventures, the resulting composition of the entrepreneurial pool, and start-up performance outcomes. Using a rich data set of start-up founders in the biotechnology and medical device sectors, we find that an increase in the unemployment rate is associated with a substantial rise in the share of entrepreneurs who are most sensitive to worsening labor market conditions. Additionally, we find that start-ups founded by these entrepreneurs display lower financial and innovative performance than start-ups founded by entrepreneurs who are relatively insensitive to business cycles. Finally, we provide suggestive evidence that individuals' heterogeneous response to worsening labor market conditions is a relevant factor in explaining the negative relationship between unemployment and start-up performance outcomes.