Monetary and fiscal policies interactions in a monetary union with country-size asymmetry

Within a country-size asymmetric monetary union, idiosyncratic shocks and national fiscal stabilization policies cause asymmetric cross-border effects. These effects are a source of strategic interactions between noncoordinated fiscal and monetary policies: on the one hand, due to larger externalities imposed on the union, large countries face less incentives to develop free-riding fiscal policies; on the other hand, a larger strategic position vis-à-vis the central bank incentives the use of fiscal policy to, deliberately, influence monetary policy. Additionally, the existence of non-distortionary government financing may also shape policy interactions. As a result, optimal policy regimes may diverge not only across the union members, but also between the latter and the monetary union. In a two-country micro-founded New-Keynesian model for a monetary union, we consider two fiscal policy scenarios: (i) lump-sum taxes are raised to fully finance the government budget and (ii) lump-sum taxes do not ensure balanced budgets in each period; therefore, fiscal and monetary policies are expected to impinge on debt sustainability. For several degrees of country-size asymmetry, we compute optimal discretionary and dynamic non-cooperative policy games and compare their stabilization performance using a union-wide welfare measure. We also assess whether these outcomes could be improved, for the monetary union, through institutional policy arrangements. We find that, in the presence of government indebtedness, monetary policy optimally deviates from macroeconomic to debt stabilization. We also find that policy cooperation is always welfare increasing for the monetary union as a whole; however, indebted large countries may strongly oppose to this arrangement in favour of fiscal leadership. In this case, delegation of monetary policy to a conservative central bank proves to be fruitful to improve the union’s welfare.

Sinalização de Orientação em Estradas Integradas em Rede

A rede viária de um país proporciona, não só o encurtamento de distâncias como também o desenvolvimento social e económico. Assim, importa que em qualquer ponto do traçado o utilizador possa reconhecer, de forma inequívoca, o seu posicionamento em relação à via e ao seu destino. Neste propósito a sinalização assume um papel fundamental. Sinalização define-se como o interface entre a estrada e o condutor, tendo por base um sistema de comunicação, constituído por mensagens escritas ou simbólicas, que fornecem ao condutor uma correta perceção da estrada em que circula. Este facto, contribui para uma melhoria das condições de segurança rodoviária diminuindo a sua sinistralidade. A nível nacional a sinalização de orientação é regulada pela norma de sinalização vertical de orientação. Todavia identificou-se a necessidade de atualização desta, estando para isso eminente a publicação da versão definitiva da disposição normativa. De referir que ambas não possuem carácter obrigatório, mas constituem um manual de boas práticas na área. Com esta dissertação pretende-se conhecer, a viabilidade e as implicações inerentes à aplicação da disposição normativa, com especial enfoque na metodologia utilizada para a escolha dos destinos inscritos nos painéis de sinalização. Para isso procedeu-se a uma análise comparativa entre a norma de sinalização vertical de orientação e a disposição normativa, através do estudo de casos práticos. Nesse sentido, comparou-se os resultados teóricos obtidos pela aplicação das duas normas e o que, na realidade, se encontra no local. Associadamente procedeu-se a um estudo das normas aplicadas em países europeus de referencia com o intuito de verificar quais as práticas seguidas. Conclui-se, com esta dissertação, que a disposição normativa, pretensa atualização da norma em vigor, carece de diversas melhorias, de forma a proporcionar uma melhor adequação ao panorama rodoviário nacional e proporcionar a continuidade de sinalização orientação transfronteiriça.

A Manipulação de resultados em Portugal através do Goodwill

Dissertação para obtenção do Grau de Mestre em Contabilidade e Finanças Orientador: Doutor José Manuel da Veiga Pereira

The cross crypto scheme cipher integration for securing SCADA component communication

Critical Infrastructures became more vulnerable to attacks from adversaries as SCADA systems become connected to the Internet. The open standards for SCADA Communications make it very easy for attackers to gain in-depth knowledge about the working and operations of SCADA networks. A number of Intenrnet SCADA security issues were raised that have compromised the authenticity, confidentiality, integrity and non-repudiation of information transfer between SCADA Components. This paper presents an integration of the Cross Crypto Scheme Cipher to secure communications for SCADA components. The proposed scheme integrates both the best features of symmetric and asymmetric encryptiontechniques. It also utilizes the MD5 hashing algorithm to ensure the integrity of information being transmitted.

Friction losses of Newtonian and non-Newtonian fluids flowing in laminar regime in a helical coil

This study aimed to carry out experimental work to determine, for Newtonian and non-Newtonian fluids, the friction factor (fc) with simultaneous heat transfer, at constant wall temperature as boundary condition, in fully developed laminar flow inside a vertical helical coil. The Newtonian fluids studied were aqueous solutions of glycerol, 25%, 36%, 43%, 59% and 78% (w/w). The non-Newtonian fluids were aqueous solutions of carboxymethylcellulose (CMC), a polymer, with concentrations of 0.2%, 0.3%, 0.4% and 0.6% (w/w) and aqueous solutions of xanthan gum (XG), another polymer, with concentrations of 0.1% and 0.2% (w/w). According to the rheological study done, the polymer solutions had shear-thinning behavior and different values of viscoelasticity. The helical coil used has an internal diameter, curvature ratio, length and pitch, respectively: 0.00483 m, 0.0263, 5.0 m and 11.34 mm. It was concluded that the friction factors, with simultaneous heat transfer, for Newtonian fluids can be calculated using expressions from literature for isothermal flows. The friction factors for CMC and XG solutions are similar to those for Newtonian fluids when the Dean number, based in a generalized Reynolds number, is less than 80. For Dean numbers higher than 80, the friction factors of the CMC solutions are lower those of the XG solutions and of the Newtonian fluids. In this range the friction factors decrease with the increase of the viscometric component of the solution and increase for increasing elastic component. The change of behavior at Dean number 80, for Newtonian and non-Newtonian fluids, is in accordance with the study of Ali [4]. There is a change of behavior at Dean number 80, for Newtonian and non-Newtonian fluids, which is in according to previous studies. The data also showed that the use of the bulk temperature or of the film temperature to calculate the physical properties of the fluid has a residual effect in the friction factor values.

Experimental and numerical evaluation of composite repairs on wood beams damaged by cross-graining

An experimental and Finite Element study was performed on the bending behaviour of wood beams of the Pinus Pinaster species repaired with adhesively-bonded carbon–epoxy patches, after sustaining damage by cross-grain failure. This damage is characterized by crack growth at a small angle to the beams longitudinal axis, due to misalignment between the wood fibres and the beam axis. Cross-grain failure can occur in large-scale in a wood member when trees that have grown spirally or with a pronounced taper are cut for lumber. Three patch lengths were tested. The simulations include the possibility of cohesive fracture of the adhesive layer, failure within the wood beam in two propagation planes and patch interlaminar failure, by the use of cohesive zone modelling. The respective cohesive properties were estimated either by an inverse method or from the literature. The comparison with the tests allowed the validation of the proposed methodology, opening a good perspective for the reduction of costs in the design stages of these repairs due to extensive experimentation.

Overproduction of the english definitive article by portuguese learners: a cross-sectional study

The English article system is actually so complex that it presents many challenges for most non-native learners of English. The main difficulty of Portuguese learners, despite the numerous similarities between the two article systems, is noticeable in a marked tendency to produce the definite article where native speakers of English would not use it. This article reports the results of a cross-sectional study which examined the English definite article overproduction by a group of 12 Portuguese EFL learners with at least seven years of English instruction. The prediction is that these learners will exhibit evidence of transferring L1 features to their interlanguage when they overuse the definite article. The data were collected by means of a gap-filling task and a composition. The results found, as predicted, that these learners overused the in generic contexts. It is argued that this overuse is directly tied to and can be explained by transfer to somewhere and conceptual transfer principles.

Audiologists’ preferences for patient-centredness: a cross-sectional questionnaire study of cross-cultural differences and similarities among professionals in Portugal, India and Iran

Objective Patient-centredness has become an important aspect of health service delivery; however, there are a limited number of studies that focus on this concept in the domain of hearing healthcare. The objective of this study was to examine and compare audiologists’ preferences for patient-centredness in Portugal, India and Iran. Design The study used a cross-sectional survey design with audiologists recruited from three different countries. Participants A total of 191 fully-completed responses were included in the analysis (55 from Portugal, 78 from India and 58 from Iran). Main outcome measure The Patient–Practitioner Orientation Scale (PPOS). Results PPOS mean scores suggest that audiologists have a preference for patient-centredness (ie, mean of 3.6 in a 5-point scale). However, marked differences were observed between specific PPOS items suggesting these preferences vary across clinical situations. A significant level of difference (p<0.001) was found between audiologists’ preferences for patient-centredness in three countries. Audiologists in Portugal had a greater preference for patient-centredness when compared to audiologists in India and Iran, although no significant differences were found in terms of age and duration of experience among these sample populations. Conclusions There are differences and similarities in audiologists’ preferences for patient-centredness among countries. These findings may have implications for the training of professionals and also for clinical practice in terms of optimising hearing healthcare across countries.

Characterization of middle-ear condition of Oporto daycare children up-to 3 years-old: A cross sectional study

Objective The aim of this study was to determine tympanometric values of children who attend Oporto daycare centers and further analyze any relations with host and environmental factors. Methods Cross sectional study in a randomly selected sample of 117 daycare children up-to 3-years old from Oporto. Tympanometric measures were collected. Results Children presented in left ear (LE) a mean peak pressure (PP) of −156.53 daPa and a mean compliance of 0.16 cm3. Right ear (RE) revealed a PP of −145.61 daPa and a compliance of 0.19 cm3. Normal tympanograms (type A) had a lower frequency than abnormal tympanograms (type B and type C). There was a positive association between age and compliance (LE: p = 0.016; RE: p = 0.013) and between the presence of rhinorrhea and PP (LE: p = 0.002; RE: p < 0.05). Abnormal tympanograms were more frequent in Spring (RE: p = 0.009), in younger children (LE: p = 0.03) and in children that had rhinorrhea (LE: p = 0.002; RE: p = 0.044). Healthy children had a mean PP of −125.19 daPa and a mean compliance of 0.21 cm3 in LE and a mean PP of −144.27 daPa and a mean compliance of 0.22 cm3 in RE. Conclusion Tympanometric measures presented in this paper may be applicable to Oporto daycare children up-to 3 years-old. Most of daycare children revealed abnormal tympanograms. Age, rhinorrhea and season influenced children's middle-ear condition.

Multilayer Perceptron Neural Networks Training Through Charged System Search and its Application for Non-Technical Losses Detection

The non-technical loss is not a problem with trivial solution or regional character and its minimization represents the guarantee of investments in product quality and maintenance of power systems, introduced by a competitive environment after the period of privatization in the national scene. In this paper, we show how to improve the training phase of a neural network-based classifier using a recently proposed meta-heuristic technique called Charged System Search, which is based on the interactions between electrically charged particles. The experiments were carried out in the context of non-technical loss in power distribution systems in a dataset obtained from a Brazilian electrical power company, and have demonstrated the robustness of the proposed technique against with several others natureinspired optimization techniques for training neural networks. Thus, it is possible to improve some applications on Smart Grids.

Using Baseline Methods to Identify Non-technical Losses in the Context of Smart Grids

Demand response has gained increasing importance in the context of competitive electricity markets and smart grid environments. In addition to the importance that has been given to the development of business models for integrating demand response, several methods have been developed to evaluate the consumers’ performance after the participation in a demand response event. The present paper uses those performance evaluation methods, namely customer baseline load calculation methods, to determine the expected consumption in each period of the consumer historic data. In the cases in which there is a certain difference between the actual consumption and the estimated consumption, the consumer is identified as a potential cause of non-technical losses. A case study demonstrates the application of the proposed method to real consumption data.

Status of Non-Technical Losses of Electricity in Brazil

The electricity demand in Brazil has been growing. Some studies estimate that through 2035 the energy consumption (the power consumption) should increase 78%. Two distinct actions are necessary to meet this growth: the construction of new generating plants and to reduce electrical losses in the country. As the construction of power plants have a high price, coupled with the growth of (current) environmental concern, electric utilities are investing in reducing losses, both technical and non-technical. In this context, this paper aims to present an overview of nontechnical losses in Brazil and to raise a discussion on the reasons that contribute to energy fraud.

Study of Proposed Identification of Non-Technical Losses of Electricity in Brazil

The electric utilities have large revenue losses annually due to commercial losses, which are caused mainly by fraud on the part of consumers and faulty meters. Automatic detection of such losses where there is a complex problem, given the large number of consumers and the high cost of each inspection, not to mention the wear of the relationship between company and consumer. Given the above, this paper aims to briefly present some methodologies applied by utilities to identify consumer frauds.

Analysis of Consumption Data to Detect Commercial Losses Using Performance Evaluation Methods in a Smart Grid

Electric power networks, namely distribution networks, have been suffering several changes during the last years due to changes in the power systems operation, towards the implementation of smart grids. Several approaches to the operation of the resources have been introduced, as the case of demand response, making use of the new capabilities of the smart grids. In the initial levels of the smart grids implementation reduced amounts of data are generated, namely consumption data. The methodology proposed in the present paper makes use of demand response consumers’ performance evaluation methods to determine the expected consumption for a given consumer. Then, potential commercial losses are identified using monthly historic consumption data. Real consumption data is used in the case study to demonstrate the application of the proposed method.