Captain Morgan And Seven

New Year is time for balance and perspective. Concentrates auto summit that will take place in Buenos Aires during the next few days, leading analysts seem to have forgotten the most important race next year. This event does not include cars, motorcycles and trucks much less, but has 40 million Argentines as participants. We speak, of course, the true Rally 2011: U.S. dollar, interest rates and prices.

Figure can observe the positions of the competitors at the time of the start: January 2002. By the end of the year prices have gotten ahead by a slight difference against the dollar while the performance of a weight placed on that date and updated until later this year remains a significant backlog. "Our prognosis? Faced with a dollar (as the monetary program) would remain in the range of 4.2 and inflation (conservative) 25%, prices would continue to head, widening of the difference between the currency. But of course, we could be wrong, so let's look a bit like speed engines competitors before the start.

competitive alternatives in the previous stages are remarkable. During the recession of the early 2009, the race took an interesting turnaround, with the dollar record lap times, but without altering the behavior of other participants. The "silent devaluation," according to tourism experts Road would have been possible thanks to the global liquidity and low international interest rates, coupled with the recession, which moderated the price increase (and avoided the blow to the expectations) .

Will the same effect as an acceleration of the dollar or affect the conduct of the fees? Do you keep a dollar race slow?

defined positions who reach the podium: low rates and weak dollar makes the team's victory in consumption and imports. An acceleration of the dollar and rates may lower it (and equipment adjustment amounts are emerging as the frontrunner to succeed him.)

The start is near, and the participants and heat engines.

Welcome to the Rally 2011. _

Pd. The original post included the Santa Fe series CPI, which understates the inflation in 2007. Thanks to comment Natalio Ruiz modify the CPI series for the Buenos Aires City.

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Deconstructing Rally 2011 Inflation (II) Deconstructing

Money, like Janus, has two faces: past and future at the same time it represents (as we said ) what was and also all that be.

In a different dimension, money includes a second duality important: money balances, which is calculated as an asset to the private sector, they represent a liability to the Central Bank.

From political arithmetic and undesirable interactions

By definition, the issue of money by the Central Bank has as its counterpart increasing or decreasing asset net worth of the entity. It is clear, moreover, that different ways of altering the composition of the balance may pursue different objectives: for example, the purchase of foreign assets through issuance of money alter the foreign exchange market. But we are not interested in this case the reasons why the central bank can print money, but simply to draw attention that you have the power to do: we repeat, is the sole agent of the economy that counts for this purpose as part liabilities.

But the Central Bank is primarily a public sector body "monetary issue can then be completely independent of the decisions of revenues, expenditures and financing of public policy?

The same questions were Thomas Sargent and Neil Wallace (1981) . The point is relatively simple: when consolidating the budget constraint of the Central Bank with the public sector (ie, it takes both players as if they were one) shows that the only way to finance expenditures that exceed their income is through the issuance of any liability. This would be completely trivial, since by definition all excess spending must be matched by an increase or decrease the obligations of assets, if it were not for this new agent, to include the Central Bank has the possibility of financing through printing money.

By this logic, the authors found that in a context where the public sector has a financial deficit and there are limits to its indebtedness, is inconsistent jointly announce a restrictive monetary policy coupled with an expansionary fiscal policy (in the sense of maintaining a level of spending in excess of income). In the long term, when the public sector can not borrow, monetary policy is dominated by the financing needs of the treasury, taxation policy is determined by the possibilities of expansion of monetary policy.

Is this a general theory about the nature of inflation? Certainly not. First Instead, the mechanism that establishes a causal link from financial deficit to the price increase is certainly questionable. In an inflationary dynamics is reasonable that both variables interact, for example, through wage indexation (of what it would be almost impossible to distinguish which one "moves first"). Moreover, the real variables need not remain unchanged to an increase in the rate of inflation: a simple example, under certain assumptions the increase in demand could alter potential output and solve financial problems Public sector (scenario particularly emphasized in recent times and which we shall return later).

Now, although the work of Sargent and Wallace's criticism, the general proposition, that is born as a result of budget constraints, still stands: in a period of time, which can not be financed through an expansion of borrowing (or a decrease of public sector assets) will be covered by printing money. O, which is identical, a scenario of strong financing needs, monetary policy becomes necessarily passive.

From tactical to practical

The previous proposition has two advantages: not only is relatively simple, but at the same time is a useful tool for approaching two decades full of macroeconomic history Argentina. see then that tells us the "master of life. " A very broad strokes, during the '80 fiscal policy clearly signaled the pace of monetary policy, which for most of the decade was passive to the needs of public sector financing (an excellent job of that with the countless details I'm ignoring it Damill and Frenkel (1990) ).

During the '90s forced the independence of monetary and fiscal policy, but with the emergence of this deficit was only possible through access to capital markets or asset sales. In other words, given the impossibility (legal) to resort to printing money, the Treasury must necessarily go to the credit markets to cover its debt. A very mild this proxy statement in the chart below.

The story, by the time the leave in 2001, where policy rules certainly become more complex ( formation may occur together with the inflation tax surplus).

An interesting point worth noting before saying goodbye is the fact that when the public sector using funding through monetary resources are usually obtained as a result of the inflation tax. What, in other words, it means that an inability to place large debt financing needs of large issues that involve force major price increases. In principle, there is evidence that periods of high inflation in the relationship issue and prices are close, but it becomes blurred in times of relative stability ( Basco, D'Amato and Garegnani (2006) ).

This means that between a state of nature and there is another change, a transformation that makes the economy becomes more prone to respond quickly to the monetary issue. This leads us to wonder about what may be the circumstances.

In the next post will try to negotiate the maze thick economists call expectations. Although, as Erik Lönnrot and Red Scharlach, we run the risk of ending up confusing Janus with Hermes.

Appendix

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Inflation (I) Incidence

warnings and contraindications

Argentina has had throughout its history long periods of inflation high and, at the moment, one of the countries with the highest rate of growth of world prices. In the next post I will try to address this issue, believing that it has become a major economic challenges our country.

The causes as well as the consequences of sustained growth in the general level of prices are a topic of constant (and inconclusive) debate, both in academia and government. Inhibits the complexity of the problem, I think, the ability to fully embrace, in one fell swoop, without the risk of ridicule or just be trivial. Of the many ways you could address this issue believe that the simplest, but also the most cowardly, is trying to offer a small glimpse into some of the leading edges of it and leave in any case, that the reader attempt to delineate the fuzzy image of the painting only by those short strokes. The vision will necessarily be partial and incomplete. Noblesse oblige: my vision of the problem is, if anything, biased and incomplete.

A couple of months now, and in response to a post of Finance , many bloggers got into a interesting discussion on the possibility for the "inflation tax" to be a tax. To avoid this kind of debate, I will dedicate this post to the (tedious) task of making precise clarifications on the definitions we use. As a bonus, the end is a comment on what I believe is the error Musgrave (a cheap shot if I did not say it now, but hopefully that will generate enough attention to reach the last lines).

The attached final something like a pauper rather mathematical appendix, which attempts to clarify some questions about definitions (I know slightly forgiven for dawn service.)

Preludiando

Money is a strange object: future promise, the desire to keep it arises indirectly as a derived demand. For decades, economists know that without rigidities in the exchange (the interactions with the "dark forces of time" or the clearest, between individuals) money would have no reason to exist. In other words, money makes possible interactions that would otherwise not be carried out. "If you iron my shirts, it is because another human being, depending on your options, which suits me just suits me. The essence of the exchange is precisely that each of the parties leaves the satisfying their own needs, better suited because it indirectly through exchange "Depablos disclosed. The very basis of a complex economy (in the number of goods) and decentralized (in terms of multiple decision agents involved in it) force the emergence of a payment ( Howitt and Clower (1999) ).

The money provides a liquidity facility, as stated, allowing agents to transact. Another nice metaphor to help understand the essence of the phenomenon behind the existence of money is to think that it could be replaced by a giant grocer account, which computes all our daily transactions with all other economic agents (a short version of the argument can be found in Leijonhufvud (1998) and more elaborate in Kocherlakota (1998) ). Money is an evil device, combination of individuals, goods, time and space. But above all, a promise of future ownership of a property, to be effective, accurate back in time. If there were no problems in exchanging the currency would be replaced by any other asset with positive returns. Money has, therefore, a cost, as a force to give up performance.

Three definitions, two constraints and an error

What is the cost of money?

Buiter (2009) performs three definitions, which I believe are necessary to give a precise answer to this question (which discrete-time use). The first corresponds to the nominal expenditure incurred by individuals, in present value terms, to maintain an asset that pays no interest, and is known as the "Central Bank Income"

IBC (t) = R (t) / (1 + R (t)) M (t-1)

Intuitively, the lost "weight" between money and bonds is the nominal interest rate. Since the loss occurs in the second period (is denominated in pesos of the post), it must be discounted. Now, in order to accumulate money, individuals must give up costs. The accumulation of stocks rated by the private sector is what is commonly known as seigniorage:

S (t) = M (t)-M (t-1)

When this accumulation of assets is considered in real terms, we can see that seigniorage has two components:

s (t) = m (t)-m (t-1) + π (t) / (1 + π (t)) m (t-1)

The first component corresponds to the resources transferred by the private sector by increasing holdings of real balances, while the second component is conventionally known as the "inflation tax"

ii (t) = π (t) / (1 + π (t)) m (t-1)

As can be seen, whenever there is inflation, the private sector resources should resign holdings real balances. In other words, the inflation tax is negative real returns on holdings of money. As an economy, nothing is lost, the conservation law should tell us that the resources from the inflation tax is income from any of the other actors in the economy and (later delve into this) the direct recipient in this case is the Central Bank . The error Musgrave's part to assume the absence of the inflation tax based on the absence of central bank transfers to the Treasury. The reallocation of resources that exists independently of whether or not they turned themselves.

Another important point (about which there was much discussion) is the possibility of a scenario where there is no inflation seigniorage, which is perfectly feasible for an economy to absorb higher volumes real balances. The post-devaluation Argentina is a good example of a phenomenon remonetization, although this, along with some other issues, will be for later.

Appendix

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distributive VAT: how regressive? (2)

In the previous post of This sequence presents the two main approaches to analysis of distributional impact in the context of a consumption tax (per case, VAT) and showed how under a single specification (or "naive") the results back from a point significantly attenuates intertemporal approach when we rehearse. In this note we repeat the exercise by slightly altering the structure of demand. In this case, a certain foundation dotaremos micro analysis by introducing agents to making consumption and savings in a context of life cycle, subject to dissimilar conditions of access to credit. Specifically, we are interested in evaluating the effect of any "credit crunch" on the distributional impact of VAT.

Exercise not-that-naive

begin characterizing the income profiles of individuals. Without loss of generality, we take the distribution of income per capita levels of initial family (in dollars) the previous year and assume a profile for each income decile shaped or inverted, it is increasing in the first part of the cycle and then decreasing (and concave), so that the momentum for revenue growth is equivalent between deciles. This structure does not seem so trite, in light of what is observed empirically. For illustrative purposes, Figure 1 shows the profiles of some deciles.

Then we establish the behavior patterns of agents. The decision rule of consumers arises to solve the optimization program given by equation 1, which by now is a standard specification. For simplicity, equation 2 provides equal subjective discount factors (preferences) and the discount means the "market."

Restrictions credit are defined by Equation 3, and indicate that at any point in time agents can not consume beyond the possibilities that disposable income in that period. Naturally, candidates for imposing this condition are the individuals of the lowest deciles. With this scheme in mind, we evaluated the impact of a value added tax (consumption) with an average of 21% tax rate, imposing credit restrictions (3) over the first six deciles of the distribution, allowing the remaining categories make debt at will.

Note that the restriction amounts to failure to borrow, not save. Therefore, given the income profile of each category, which is noted for individuals "restricted" is a smooth consumption path at a certain period than the original. The following figures show the consumption and income profile of the first decile of the distribution (for which the restriction operates) and the lowest decile (which has perfect access to credit markets).

Figure 2, we see how the restriction operates in the first part of the life cycle, then after a certain period, and because the structure of the agent preferences and their profile income-these deciles save part of their income to finance in the twilight of their lives and ensure a stable consumption level. In particular, from the fourth period, the agent begins to shift consumption towards the future (the dotted line is below the income earned online blue-). The "savings" of each period (purple line) includes the capitalization that are made in each period, so take that. To see the surplus or deficit on the income earned in each period, net of capitalization, just look at the parable of the difference between blue and dotted line consumer.

Moreover, Figure 3 shows a process of smoothing Consumption typical: there is a significant deficit on both ends of the life cycle, which is funded with a lower level of consumption in most productive stage of the agent. Since the ability to bring future consumption at present is available only to the richest deciles, from a VAT point here is progressive, as shown in Figure 4, in conjunction with cumulative incidence analysis and tested in the previous post (for those who have not read, the curves show how much the present value of income represents the present value of taxes paid by consuming, considering up to time t).

Again, which will result in asymptotic neutrality of VAT. And bottomline mode, we noticed that for this specification simple demand heterogeneity in terms of access to credit markets (in the context of preference for stable consumption paths over time) does not introduce regressive VAT.

Discussion

Notwithstanding the above, it should draw attention to some important issues. First, this specification has several aspects to refine, and several assumptions that it is worth to rest in a future post. On the one hand, deliberately avoided modeling explicit credit market (ie not specify who offers credit to these agents or under what conditions, among other things). A quick exit this simplification might be thinking of a small open economy, but it is obvious that the formal determination of the credit market does not affect the outcome in question.

One paragraph deserves the equation (2), which oversimplifies the structure of intertemporal preferences of actors collapsing to a single parameter.

Finally, this result could reversed if in conjunction with restrictions on access to credit inflation is incorporated. These extensions will be addressed in a future post.

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distributional impact of VAT: how regressive? (1)

Apart from resource allocation issues, one of the most interest to when assessing fiscal policy is the distributional dimension. Both the expenditures made by the public and the resources it gets through taxes affect the level of life of individuals in an economy. For such an impact analysis necessary, be taken into account all the constituent elements of the budget. However, given the numerous challenges that this is common for incidence analysis proposed more modest goals, making assessments "partial" incidence (both differential and absolute).

In this sequence of posts will try to make an assessment exercise absolute incidence of VAT from a purely theoretical and deliberately simplified, comparing the two main approaches in the literature (incidence and impact on the annual life cycle) under a range of different specifications of consumption patterns, ranging from a macro function "ad-hoc Keynesian" to more sophisticated theoretical models as the hypothesis of consumption smoothing and liquidity constraints . (In a future post, the idea will add more realistic extensions on the same subject, exemptions, grants, inflation, etc.. The purpose of the exercise, if such a thing exists, is to identify the determinants of the regressivity of VAT.)

distributive impact and approaches

The determination of the approach is not trivial, as the incidence results depend largely on the definition of welfare proxies (eg income / consumption current / permanent, etc.). and tax burdens employed. In this regard, Metcalf (1992) makes a brief but interesting description of the arguments made in the '80s about the distributional effects of introducing a value added tax in the United States, a country that taxes consumption by taxing sales ( sales tax). By then, the practice common to assess the progressivity or regressivity of a tax meant to calculate what proportion of income goes to pay this tax, all in annual terms. Thus, if we assume without loss of generality that the income of the period t is exclusively for consumption and savings (equation 1), we conclude that the tax burden associated with a consumption tax aliquot k is determined by Equation 2:

From Equation 2 it is obvious why the VAT is a regressive timely perspective : VAT taxes consumption and is almost a stylized fact that it has greater share of income of individuals in lower income levels (which are those with less ability to save), so the tax burden in these areas is higher and is decreasing as income increases.

On the other hand, life cycle approach emphasizes other aspects are not minor. From more intuitive side, we know that saving some extent this is a demand for future consumption, so resources are not taxed in this period it will be revealed as the real intention of consuming.

In this sense, from a safe definition of wealth W as equation 3 (along the life cycle, the individual will consume their entire revenue stream, all This present value), quickly reached the present value of taxes paid to consume is defined by equation 4, which shows that in this world simplified the tax burden VAT is constant for all individuals regardless of their level of consumption or savings, and in this case is equivalent to the average tax rate k . Whereupon, according to the intertemporal approach VAT is neutral.

Exercise naive

The simplest simulation is to assess the impact of a consumption tax with an average tax rate of 21%, modeling consumption so as to capture the stylized fact described in the previous section. Thus, we use the values \u200b\u200bof average household income per capita by decile (borrowed from here ) as a variable of "welfare." Then, for each decile consumption poses a linear function of income, allowing for heterogeneity in the marginal propensity to consume. Thus, for a given period consumption decile i is defined by

For the definition of the parameters in (5) was taken into account own estimates of the marginal propensity to consume from aggregate data on consumer spending and output in Argentina, while the constant adjusted so that the poorest decile consume their entire income (without loss of generality, so the rest of the deciles consume a smaller proportion of income). Table 1 presents the results of the exercise.

Thus, we see that the average tax rate is decreasing each decile. This is the conventional argument when considering the regressivity of VAT.

But what happens if we extend the exercise to more periods? The result obtained in this framework is simplified to the point that maintaining this structure, after a few periods the regressivity of the VAT reduced considerably if we calculate the tax burden in present value terms. Non so dizzy table presented in the following graph the results to assess the cumulative tax burden (defined as the ratio of present value of tax income to present value) to different time periods.

And here appears a very interesting result: expanding the horizon of analysis 'mitigate' the regressivity of the VAT, even in a context in which the richest deciles do not end up consuming all their wealth (for example, if we omit the constant in each time decile 10 consumed 68% of their income). Thus, if we consider the present and the two nearest future periods, the tax burden rises decile 10 14.3% to 18%. Therefore, although the neutrality of VAT in this case occurs as a result 'asymptotic', the main conclusion is that the strong regressive view initially decreases rapidly taking a few periods ahead.

Of course, this exercise is somewhat naive in that does not involve any decision-making by the agents, nor why the agents explicitly save (or in what form). In the next post, we will investigate the matter.

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Prediction and factum in Microeconomics I: rationality and Operating

In this sequence of posts I will (try to) make a review of some of the paradoxes 'famous' of microeconomic theory. That is, cases in which the predictions arising from it are inconsistent with those observed empirically. In this post, it's the turn of the ultimatum game.

Prelude

At the risk of oversimplify important issues of epistemological status, can be certain that the economy-as-discipline studies human behavior in a broad sense: much of the research in this area seek to define, identify and verify (empirically or experimentally) the logical implications derived from certain basic tenets or axioms used as a starting point. This exercise serves, among other things, to verify the validity of the axioms or assumptions (that is, how relevant to determine or explain the behavior of the phenomenon under study).

Undoubtedly, the axioms of rationality of the agents belong to the hard core of decision theory modern, becoming the ultimate reference frame (either by difficulties in modeling 'irrationality 'or the convenience of thinking in terms of deviations from a common denominator). However, reporting requirements and capacity calculation involving the "rational" are "in the best-a stylized characterization of the decision-making framework under which economic agents operate, so there are several arguments for doubting the importance or relevance of the course.

In this sense, models of bargaining or bilateral negotiations are an excellent theoretical scenario to test the rationality of agents, because through a simple game can compare the predictions of theory the actual interaction of those who lend themselves to this type of experiments (as a footnote, note that curiously tend to be students of economics).

(To motivate a little post, let me note that several real-life situations can be represented as a bargaining model, for example the interaction of actors in decentralized markets, the housing market The market for lemons the work, etc.-or explicit resolution / institutional conflict, with specific applications in labor economics and what is known as political economy .)

Prediction

The most natural example to illustrate the late-exposure is the game the Ultimatum , the sequence describe below

• Two players (1 and 2) must be allocated a sum of money D;
• First, player 1 must make an offer (s , 1 - s ) to player 2, where s is the fraction of the sum D which is player 1;
• Once the offer, player 2 can accept (in which case the money is distributed as agreed) or reject (in which case both players are left without any money).

The classical result of game (Rubinstein, 1982 ) shows that the equilibrium strategy is more robust that player 1 is left with all the money (s = 1 - 'epsilon') and Player 2 accepts. And at this point, there are two key assumptions are: first, all players looking to maximize their own pay (baptize this "homo-economicus "), also have rational preferences and know that the other players known to follow this type of behavior. latter is called common knowledge of rationality .

balance Intuition proposed is simple: if player 2 rejects the offer runs out of money, therefore a "homo-economicus " will not reject offers that will leave a positive sum, however small it may be. Note that in this context can not be made credible threats . So player 1 can comfortably provide s = 1 - 'epsilon' .

Factum

Without

But this is not the way the negotiations are resolved in reality. Güth, Schmittberger, Schwarze (1983 ) conducted the first experimental study of this simple game, and found that the average supply of players 1 was about 37%! of the total, which is clearly in short with our prediction of about 100%. Moreover, almost half of the "Players 2" rejected offers of less than 30%.

Naturally, this paradox drew the attention of the researchers, who tested several assumptions in order to reconcile the prediction the factum. A first online attacks the paradigm of rationality, adding restrictions to the computing power of the agents (bounded rationality). Even in a simple game like this, it may be possible that there is "gotcha" on the bid predicted. In this vein, one could argue that trying different repetitions of the same game, players 1 end up "learning" that can enhance their offerings to reach equilibrium, although this is not a recurring pattern in experimental studies.

Another solution to this paradox defends the traditional concept of rationality, but relaxes the notion of " homo-economicus "incorporating preferences for equality / inequality in the distribution. That is, the "objective function" of the agents is not only its own output, but also incorporates the results of the other players. So when a player 2 rejects an offer as insufficient is "punishing" the player 1 for his selfishness. In this vein, Levine (1997 ) inferred distributions of altruism and selfishness from the experimental results of this type of game. Surprisingly, these distributions fit quite well the results of other games (for example, funding a public good).

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Life Act

Legend C = F = Franz
Cuyin

F. - Good evening, friend Cuyin.

C. - I see something crestfallen Did something unfortunate has happened to you?

F. - Yes. Today I had a very unpleasant and bitter.

C. - What is it?

F. - I met a former employee of the company. A serious and responsible man, a hard worker but retired.

C. - What was wrong?

F. - The aim was that all children have a higher education, so enabling them to earn their living in much better shape than he was.

C. - Do not you get it?

F. - On the contrary. Currently they all have a profession and work in positions far in excess of that achievement.

C. - So far I do not see anything dramatic in your case. Rather it is a comforting human example.

F. - The conduct of him it is, but the behavior of their children.

C. - How? Explain

F. "The man is old, tired and sick. But children have virtually abandoned. Do not help, showing a total lack of consideration and appreciation.

C. - Now I understand your mood friend. The truth is reprehensible behavior of these children.

F. - I agree with you ... However, I get the impression that this is a law of life. Do not think the same?

C. - Of course not.

F. - Well that's the law of Cuyin, be always disagree with me.

C. - not always, not always. But here I am.

F. - What do you disagree?

C. - that you call the law of life.

F. - "But is not what I'm telling?

C. - What you've told me is just a violation of the law of life.

F. - I frankly do not think so. Unfortunately the situation of the man that I have mentioned is not an isolated example. I've seen in many other cases, though perhaps less pronounced.

C. - I understand however, I think you're making a mistake. 're Probably confusing the law of life with the law of men.

F. - I do not see the difference.

C. - It is the law of life applies to all living organisms exist. In contrast, the law of man is made for themselves and, therefore, applicable only to them.

F. - You're saying that animals behave differently?

C. - Certainly. We comply with the law of life as stipulated.

F. - Sure?

C. - Of course. Watch the elephants. When they are too old to fend for themselves, the younger the help and guide. As for the lions, the head usually is no longer the strongest, because of their age. However, no young lion questioned its authority to direct the clan. In the case of us guinea pigs, if one is old is also blind, clan members are ready to guide him, causing him to bite their tails. And there are many more examples.

F. - But man ...

C. - Even the man in his early days, when I lived in a less evolved culture. He also did the same. And that is logical, because like any creature is subjected to the law of life.

F. - It seems, however, no longer does.

C. - I would not be so definitive. I think in many parts is maintained. For example, rural families ...

F. - Why them?

C. - Probably because there are so immersed in our culture today, that which occurs in large cities. In other words, in those villages where the artificial evolution that created the man is not so exaggerated, maintaining the natural laws of life, with all his wisdom. Excellent

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Clamor ultimatum: EconUNLP reloaded Adding more input

And yes, as it should be ...


After thousands of letters and emails begging periodicity in the blog posts (¿?), finally staff UNLP Economists took the decision to relaunch the blog. It was not easy, because maintaining a blog is a task that takes time (if any scarce resource!) Which also requires a certain level of commitment. We are therefore with great enthusiasm, and as always eager to have fun. And to learn, of course.


soon be added to the shiny new computer bloggers, economists platenses them and, of course.


So you are warned. In the course of next week we return to the ring ... Au revoir!

PD. before I run out, and doubts, clarify that the one with the shovel on the poster not me.

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Competency Peruvian writer Mario Vargas Llosa received the Nobel Prize for Literature in 2010

Great is our country among Peruvians have this wonderful writer, is a national pride recognition.
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The Peruvian writer Mario Vargas Llosa received the Nobel Prize for Literature in 2010

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Achieving Goals by Stephen Covey

I nteresante that after a nice video presentation, shows an interesting study done by Stephen Covey on the problems that organizations currently have to achieve their goals and the technical proposal for this great consultant to overcome these problems. I advise you to see this film it really is good.

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virus

S lways in companies not organized or even others who "say" to be administered through an organizational intelligence, you can find one or more patterns that give rise to a virus attacks the attitude of growth and development of an individual, they are mentioned below to be identified in their business and take appropriate action and remedial action to eliminate them completely.

1. The pessimist, who all it looks bad and impossible to change

2. The gossip, to spread rumors to gain acceptance.

3. The uncommitted not care about working with the rest.

4. The "this is not my job," that does only what is within the job description.

5. The perfectionist, nothing satisfied not appreciate the effort of others.

6. The argollero, only benefits to your nearest group.

7. The resistant to change, who prefers to remain in their comfort zone

These viruses not only affect the development of enterprises but also deletes it from its market, since they not only allow their employees work well together, but also creates a negative work environment.

How to deal with these threats? The first is to recognize and take responsibility for our own attitude and the consequences it brings to our surroundings, although it is known that it is not easy, because often the criticism of correction are so destructive, rather than CONSTRUCTION .

Given this scenario should be replaced by new and old attitudes otrorgando an opportunity to do so, ie, the important thing is to meet with the person criticizes and say clearly what is the positive change that is needed to work. First it is advisable to change that will help him and the rest, if your attitude does not change after this, simply leave their future in freedom. And while it is true that the change depends on each training could be the key if sobering. You know

IF VIRUS IN YOUR COMPANY, identify and Lying Down

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ATTITUDE KEY TO FORM TEAMS STAFF WORKING

C on the passage of time, after successes and failures you realize the existence of several infusion factors in determining working smart devices. What I will comment below is a brief summary of what I think are key tips to make these intelligent devices while effective, try to apply it and see how good it is.

Have a goal. Develop a clearly stated purpose and put it in writing and notify it . A mission that the team identifies loosely on the first day, is likely to become more vague in a matter of weeks.

Select to members carefully. Determine who should be on the team and why. Not necessarily the fact of being friends in youth ensures that the inclusion of a new team member will create efficiency in the performance of a particular job. To do this you first need to develop a profile of highly detailed and professional psychological characteristics of individual staff members, who then will be put in clear and based on the mission of such work. If the proposal of the mission is clear, then set up a small but effective team should not be a problem. If possible, keep the number of people a team in less than ten , or much less than this is possible.

Define success. How will the team if you have met the mission? Members must define, a priori, what constitutes a victory. If the goal is clearly established, it will be easier to know when the mission has been completed.

Establish a working time. If the period of development is linked to the definition of team success, then the termination date will be obvious. There will be no excuses for keeping the group on the set time.

If the objectives are established in the short term (less than a year) as a strict rule, reconsideration of any working time of more than two months as a period of critical evaluation.

If the objectives are in compliance with medium-term (one year), the critical assessment period may be nearing the fifth month.

If the objectives are long-term (within a horizon of 5 years more), the critical appraisal period comes after the first year.

Critical evaluation periods should be cyclical and repetitive as additional part of the process control team.

Establish responsibilities. Know who is doing what. Assign specific roles to each team member and determine the relationship between people in the group. Who tells the computer? This is likely to be more efficient if you let an individual. If he reports to a higher level team, then sure that the highest level team has knowledge of team members work and understand their responsibility.

Develop a schedule of equipment. How will the team accomplish its mission? If members can not establish an action plan in five or six lines, then they might want to return to the first pattern, above ( Having goals )

Make meetings more meaningful . The meetings are often like the dentist's chair. A rather annoying that the team members prefer to avoid.

Make short meetings, if they last long will be a waste of time. Each meeting has an agenda three or four items to be discussed. You may photocopy the bill to give to team members as they retire.

Remember that meetings provide time for team members who can report on their progress and difficulties, the meetings are an asset not only to solve problems, but proposals to address them.