An analysis of the effects of preferential trade policies through the estimation of quantitative models: the case of Portugal.

Doutoramento em Economia.

Is the supply of long-term debt independent of the term premia? Evidence from Portugal

An important assumption in the statistical analysis of the financial market effects of the central bank’s large scale asset purchase program is that the "long-term debt stock variables were exogenous to term premia". We test this assumption for a small open economy in a currency union over the period 2000M3 to 2015M10, via the determinants of short- term financing relative to long-term financing. Empirical estimations indicate that the maturity composition of debt does not respond to the level of interest rate or to the term structure. These findings suggest a lower adherence to the cost minimization mandate of debt management. However, we find that volatility and relative market size respectively decrease and increase short-term financing relative to long-term financing, while it decreases with an increase in government indebtedness.

Carências de boro no interior - norte e centro - de Portugal

In Portugal, boron deficiency has been observed almost everywhere, in particular in the interior of the country, causing severe crop damage. In the 1950’s, the growth anomalies in the Douro vineyards were recognised as a boron deficiency (called ´maromba’). From the 1980’s onwards systematic studies have been carried out in the northern and central interior of Portugal with the purpose of identifying and correcting this deficiency in fruit trees and forest/agroforest species. In this review paper an inventory of geological/lithological formations and soil groups is carried out where the boron shortage was most often detected. The environmental conditions that enhanced the occurrence of boron deficiency were reviewed. Based on studies carried out in these regions, the deficiency symptoms of selected trees were described, and also the boron concentrations in soils and leaves in which the symptoms had been observed were recorded. Experimental results of boron fertilisation in terms of growth or yield increase of crops were presented. Finally, an attempt is made to explain perplexities arisen from unexpected plant reactions, either due to the deficiency or to boron application, since the emergence of ´maromba’ in the 19th century until the present. In addition, some strategies for correction of scarcity of this micronutrient are suggested

Time-of-use electricity tariffs with smart meters

This paper proposes a method for scheduling tariff time periods for electricity consumers. Europe will see a broader use of modern smart meters for electricity at residential consumers which must be used for enabling demand response. A heuristic-based method for tariff time period scheduling and pricing is proposed which considers different consumer groups with parameters studied a priori, taking advantage of demand response potential for each group and the fairness of electricity pricing for all consumers. This tool was applied to the case of Portugal, considering the actual network and generation costs, specific consumption profiles and overall electricity low voltage demand diagram. The proposed method achieves valid results. Its use will provide justification for the setting of tariff time periods by energy regulators, network operators and suppliers. It is also useful to estimate the consumer and electric sector benefits from changes in tariff time periods.