Measuring persistence in nominal exchange rate: Implications for Angola’s entrepreneurship and business development

The purpose of this paper is to measure the degree of persistence in the Kwanza to US Dollar exchange rate. First, our results indicate that nominal exchange rates both in levels and in first differences are I(0), thus implying that the relative purchasing power parity hypothesis for Angola is not rejected. Secondly, we find a significant degree of persistence in both the formal and informal nominal exchange rates. Thirdly, the degree of persistence in the official market is significantly lower than in the formal market, while In first differences, persistence in the official exchange rate is substantially higher than in the informal exchange rate. Lastly, we could not find strong evidence that persistence has changed in levels throughout the sample period. By contrast, there is significant evidence that persistence in first differences has consistently increased after September 2003. These results have important policy implications as the National Bank of Angola is preparing to change its monetary and exchange-rate policy focus to a more inflation-targeting regime and to a more a flexible (or low-managed) exchange-rate regime.

Quality of Judgment Assessment

The intersection of Artificial Intelligence and The Law stands for a multifaceted matter, and its effects set the advances on culture, organization, as well as the social matters, when the emergent information technologies are taken into consideration. From this point of view, the weight of formal and informal Conflict Resolution settings should be highlighted, and the use of defective data, information or knowledge must be emphasized. Indeed, it is hard to do it with traditional problem solving methodologies. Therefore, in this work the focus is on the development of decision support systems, in terms of its knowledge representation and reasoning procedures, under a formal framework based on Logic Programming, complemented with an approach to computing centered on Artificial Neural Networks. It is intended to evaluate the Quality-of-Judgments and the respective Degree-of-Confidence that one has on such happenings.

Castilian and Portuguese merchants in collaboration (1580-1590). Has the Hispanic Monarchy favored Iberian commercial partnerships?

The Iberian Union allowed the existence of formal mechanisms of government authority in Portugal. In what concerns the Iberian trade dynamics, including the colonial circuits, the Habsburgs legislated according to those that would be the most politically convenient circumstances, making an impact on Iberian affairs. Over the last decade, historical literature has highlighted the transnational nature of Early Modern business partnerships. On the other hand, Iberian scholars have put forward many case studies that show formal or informal Portuguese participations in the Spanish Indies affairs. However, the inverse situation as not been considered yet. What was the role played by Castilian merchants in the Portuguese colonial trade? This paper aims to present data about the collaboration between Portuguese and Castilian merchants within the European and the overseas trade dynamics, approaching the Iberian Union as an event that favored these business partnerships. It also debates the formal or informal nature of these relationships. Were they promoted by the State’s policies or, alternatively, were they devised as a means to bypass the Crown’s monopolistic policies? For this propose, we will analyze Portuguese notarial records from the period between 1580 and 1590.