Measuring persistence in inflation: evidence for Angola

The purpose of this paper is to examine the degree of persistence in five inflation indicators for Angola, and to identify the implications for decision making. Our results suggest that when structural breaks are accounted for, all five inflation indicators are stationary. Second, our findings suggest that persistence is not too high. Moreover, the degree of persistence is similar among the five inflation indicators and throughout the sample period. Finally, our results also show that extracting the most volatile components of the headline inflation indicator does not generate a new inflation indicator that is less volatile and more persistent than the original. These results have important policy implications as the National Bank of Angola is preparing to change its monetary policy focus to a more inflation-targeting regime

Measuring persistence in inflation: evidence for Angola

The purpose of this paper is to examine the degree of persistence in five inflation indicators for Angola, and to identify the implications for decision-making. Understanding inflation persistence in Angola is crucial because the National Bank of Angola is preparing to change its monetary policy focus to a more inflation-targeting regime. Our results suggest that when structural breaks are accounted for, all five inflation indicators are stationary, so that a shock will give temporary effects. Secondly, our findings suggest that persistence is not too high. Moreover, the degree of persistence is similar among the five inflation indicators and throughout the sample period. Finally, our results also show that extracting the most volatile components of the headline inflation indicator does not generate a new inflation indicator that is less volatile and more persistent than the original. These results have important implications for the design, implementation and effectiveness of monetary policy in Angola, especially when following an inflation-targeting regime. First, a not too high degree of persistence means monetary policy aiming for price stability must be implemented with a permanent policy stance. Secondly, a low degree of persistence also means that inflation can be stabilized in a short period of time following a shock. Lastly, the results are also relevant for prediction and modeling purposes.

Avaliação de impactos dos processos RVCC no Centro Novas Oportunidades da Fundação Alentejo: o período de 2000-2005

Este projeto de investigação teve como objetivo geral avaliar os impactos do processo de Reconhecimento Validação e Certificação de Competências (RVCC) de nível básico, dos adultos que, no Centro de Novas Oportunidades da Fundação Alentejo, no período de 2000-2005, nele participaram e viram certificadas as suas competências. Sendo uma investigação de cariz descritivo, recorre, em termos metodológicos, a uma abordagem quantitativa, operacionalizada pela aplicação de um inquérito por questionário a uma amostra de 147 adultos. A análise dos resultados permitiu-nos concluir que os impactos do processo de RVCC verificam-se, maioritariamente na dimensão pessoal, enquanto, nas dimensões profissional, social e académica, não são tão visíveis. No entanto, são as mulheres que predominam, logo, valorizam mais o processo. Importa, também, verificar que o processo contribui para o aumento da valorização pessoal e do nível de escolaridade dos adultos ao familiarizar-se com o ativar das atividades de Aprendizagem ao Longo da Vida; ABSTRACT:The overall objective of this research project was to assess the impact of the adult basic RVCC (Competence Recognition, Validation and Certification) process in the people that took part in it and whose competences were certified at the Centro de Novas Oportunidades da Fundação Alentejo between 2000 and 2005. Being a descriptive research its methodology implied the application of a questionnaire to a sample of 147 people and a quantitative approach. The analysis of the results allowed us to conclude that the impact of the RVCC process occurred mostly on a personal level; however it is not so visible on the professional, social and academic levels. However, women are in a greater number and, therefore, they value the process more. It is also important to verify that the process contributes to the raise of the sense of self-worth and of the schooling level of adults as they become familiar with the Life-long Learning activities.