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La vida imitada es un volumen de ensayos dedicados a la figura y obra del escritor y performer chileno homosexual Pedro Lemebel. Los textos del libro recorren la producción literaria, visual, cinemática y multimedial de quien fuera una figura emblemática de la resistencia estética y política en Chile. El volumen se divide en tres secciones: una testimonial sobre su quehacer en radio y prensa, otra segunda centrada en su narrativa y una tercera dedicada a la performance, la música y el cine.

LITERARY CRITICISM / Caribbean & Latin American. --- Literature --- Culture --- Literatura --- Historia de la cultura. --- History and criticism. --- History. --- Historia y crítica. --- Cultural sociology --- Sociology of culture --- Civilization --- Popular culture --- Appraisal of books --- Books --- Evaluation of literature --- Criticism --- Literary style --- Social aspects --- Appraisal --- Evaluation --- Lemebel, Pedro --- Criticism and interpretation. --- Mardones Lemebel, Pedro --- Lemebel, Pedro Mardones --- Mardones Lemebel, Pedro Segundo --- Mardones, Pedro

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Zonder onderwerpscode: wereldeconomie, ontwikkelingsproblematiek

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This paper presents empirical evidence on the cyclicality of investments made by the International Finance Corporation over the past 20 years and explores their implications for the International Finance Corporation's investment strategy in the aftermath of the COVID-19 pandemic. An Independent Evaluation Group report on World Bank Group operations during the global financial crisis found that the International Finance Corporation's role was "neutral to procyclical," as it "did not increase investments in response to the crisis." This study provides a more detailed assessment of the cyclical patterns of International Finance Corporation investment activity by using a longer time horizon of assessment rather than a specific point-in-time-episode, differentiating original commitments from disbursements, and disaggregating investments across regions and industries. The results of the study confirm that International Finance Corporation investment activity was overall procyclical during 2000-19, but this general pattern masks differences over time and across regions and industries. The paper also examines the relation between the cyclical patterns of International Finance Corporation investment activity and its financial performance. The results suggest that the procyclicality is linked with sounder asset quality (measured by nonperforming loan ratios) and higher profitability (measured by risk-adjusted return on capital), underscoring that prudent portfolio risk management and profit seeking strategies have coexisted with International Finance Corporation investment procyclicality. The procyclicality of International Finance Corporation operations is consistent with its institutional mandate of supporting private sector investment, which is usually procyclical, and the need to maintain an AAA credit rating. Nevertheless, the facts that commitments became less procyclical after the 2008 crisis and the cyclicality of investments varies across regions and industries suggest that there is scope for easing procyclicality without jeopardizing the International Finance Corporation's financial sustainability. In this context, the International Finance Corporation's COVID-19 Fast-Track Facility is a case in point for easing investment procyclicality. Moreover, from a medium-term perspective, a less procyclical investment strategy may be more in line with the International Finance Corporation's 3.0 and Upstream initiatives, which aim at building pipelines of sound projects and prioritizing returns through long-term risk premia and, hence, are undeterred by short-term cyclical volatility.

Business Cycle --- Business Cycles and Stabilization Policies --- Finance and Development --- Finance and Financial Sector Development --- Governance --- Governance and the Financial Sector --- IFC Investment --- International Finance Corporation --- International Financial Markets --- International Governmental Organizations --- Investment and Investment Climate --- Macroeconomics and Economic Growth --- Procyclical Policy

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Lemebel, Pedro

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"The authors describe the main trends of Brazil's fiscal policy during the past decade and analyze (1) the ability to raise the primary surplus in response to external shocks, (2) the pro-cyclical nature of fiscal policy, and (3) the long-run impact of government expenditure composition and taxation. They analyze the use of the primary balance as a policy tool within the Drudi-Prati model, wherein the government uses the primary balance to reveal its commitment to service its debt. The authors verify that both the debt ratio and the primary balance are determinants of spreads and credit ratings in Brazil. But the relationship is nonlinear: the impact of the primary balance on spreads is amplified as the debt ratio increases. Using an Autoregressive Distributed Lag (ARDL) approach, the authors analyze the relationship between the primary balance and economic activity, finding a positive correlation in the long run. However, in the short run fiscal expansions are associated with primary balance reductions and vice-versa during output contractions, confirming the procyclical nature of fiscal policy in the short run. The authors use two approaches, ARDL and a cointegrating value at risk (VAR), to analyze the interaction between public expenditure composition and taxation on growth. Similar results are obtained: large elasticities of output with respect to capital stocks, a significant negative impact of taxation on long-run GDP, and a negative impact of increasing government consumption and transfer payments on GDP. These results shed light on the contribution of fiscal policy to disappointing growth performance in Brazil during the past decade. "--World Bank web site.

Fiscal policy --- Brazil --- Appropriations and expenditures.