The Role of Non-Market Valuation in Forest Management and Recreation Policy

Forests, and particularly those where native and mixed species are gown, provide a variety of non-wood values, important among which are recreation and environmental services. Substantial progress has been made in recent years in estimating economic values on these services. A considerable amount of research on forest values has been carried out recently in tropical and sub-tropical eastern Australia, some of which is reported in the following papers. The need for estimates of non-wood forest benefits is apparent, and it is clear that further development of techniques and a greater understanding of the way these values can be integrated into public-sector decision making is required.

Chiral resolution of hexaamine cobalt(III) cages: Substituent effects on chiral discrimination

Chiral resolution of the cobalt cage complexes [Co(diNOsar)](3+) and [Co(diAMsarH(2))](5+) have been achieved by selective crystallization with the anion bis-mu-(R),(R)-tartratodiantimonate(III) ([Sb-2(R,R-tart)(2)](2-)) and also by column chromatography with Na-2[Sb-2(R, R-tart)(2)] as eluent. The X-ray crystal structures of Lambda-[ Co(diNOsar)][Sb-2(R, R-tart)(2)] Cl . 7H(2)O and Delta-[Co(diAMsarH(2))][Sb-2(R, R-tart)(2)](2)Cl . 14H(2)O are reported, which reveal an unexpected reversal of chiral discrimination when the cage substituent is changed from nitro (Lambda-enantiomer) to ammonio (Delta-enantiomer) and shows that the ammonio- substituted cage is capable of forming a three-point hydrogen-bonding interaction with each complex anion, whereas the nitro analogue can only form two hydrogen bonds with each [Sb-2(R, R-tart)(2)](2-) anion. During cation exchange chromatography of the racemic cobalt cage complexes with Na-2[Sb-2(R, R-tart)(2)] as eluent, Lambda-[Co(diNOsar)](3+) elutes first, which implies a tighter ion pairing interaction than for the Delta-enantiomer. On the other hand, Delta-[Co(diAMsarH(2))](5+) elutes first during chromatography under identical conditions, which is also consistent with a preferred outer-sphere complex formed between Delta-[Co(diAMsarH(2))](5+) and [Sb-2(R, R-tart)(2)](2-) relative to Lambda-[Co(diAMsarH(2))](5+) and [Sb-2(R,R-tart)(2)](2-).

Cobertura de risco ou especulação? : Evidência da utilização de derivados pelas empresas portuguesas durante a recente crise financeira

Mestrado em Contabilidade

Cluster de volatilidade no mercado de taxas de câmbio USD/GBP

Mestrado em Controlo de Gestão e dos Negócios

A further investigation of the cytochrome b5–cytochrome c complex

J Biol Inorg Chem (2003) 8: 777–786

A política agrícola comum (PAC) e o comércio internacional - estudo econométrico do efeito da PAC sobre as exportações agrícolas portuguesas para a União Europeia (1975-2012)

Dissertação apresentada ao Instituto Superior de Contabilidade e Administração do Porto para obtenção do Grau de Mestre em Empreendedorismo e Internacionalização Orientadora: Professora Doutora Maria Clara Ribeiro Coorientadora: Mestre Maria Luísa Verdelho Alves

A further investigation of the cytochrome b5–cytochrome c complex

J Biol Inorg Chem (2003) 8: 777–786 DOI 10.1007/s00775-003-0479-y

Getting the carry trade's jackpot

This Working Project studies five portfolios of currency carry trades formed with the G10 currencies. Performance varies among strategies and the most basic one presents the worst results. I also study the equity and Pure FX risk factors which can explain the portfolios’ returns. Equity factors do not explain these returns while the Pure FX do for some of the strategies. Downside risk measures indicate the importance of using regime indicators to avoid losses. I conclude that although using VAR and threshold regression models with a variety of regime indicators do not allow the perception of different regimes, with a defined exogenous threshold on real exchange rates, an indicator of liquidity and the volatilities of the spot exchange rates it is possible to increase the average returns and reduce drawdowns of the carry trades

Testing for tail breaks in currency returns

In this work project we study the tail properties of currency returns and analyze whether changes in the tail indices of these series have occurred over time as a consequence of turbulent periods. Our analysis is based on the methods introduced by Quintos, Fan and Phillips (2001), Candelon and Straetmans (2006, 2013), and their extensions. Specifically, considering a sample of daily data from December 31, 1993 to February 13, 2015 we apply the recursive test in calendar time (forward test) and in reverse calendar time (backward test) and indeed detect falls and rises in the tail indices, signifying increases and decreases in the probability of extreme events.

DOTA-based Ga(III) and Gd(III) chelates for medical imaging (PET, SPECT and MRI)

PhD Thesis in Sciences Specialization in Chemistry

Price level convergence, purchasing power parity and multiple structural breaks: an application to US cities

This article provides a fresh methodological and empirical approach for assessing price level convergence and its relation to purchasing power parity (PPP) using annual price data for seventeen US cities. We suggest a new procedure that can handle a wide range of PPP concepts in the presence of multiple structural breaks using all possible pairs of real exchange rates. To deal with cross-sectional dependence, we use both cross-sectional demeaned data and a parametric bootstrap approach. In general, we find more evidence for stationarity when the parity restriction is not imposed, while imposing parity restriction provides leads toward the rejection of the panel stationar- ity. Our results can be embedded on the view of the Balassa-Samuelson approach, but where the slope of the time trend is allowed to change in the long-run. The median half-life point estimate are found to be lower than the consensus view regardless of the parity restriction.

Productivity, Preferences and UIP deviations in an Open Economy Business Cycle Model

We show that a flex-price two-sector open economy DSGE model can explain the poor degree of international risk sharing and exchange rate disconnect. We use a suite of model evaluation measures and examine the role of (i) traded and non-traded sectors; (ii) financial market incompleteness; (iii) preference shocks; (iv) deviations from UIP condition for the exchange rates; and (v) creditor status in net foreign assets. We find that there is a good case for both traded and non-traded productivity shocks as well as UIP deviations in explaining the puzzles.

Periodic Sequences of Arbitrage: A Tale of Four Currencies

This paper investigates arbitrage chains involving four currencies and four foreign exchange trader-arbitrageurs. In contrast with the three-currency case, we fi nd that arbitrage operations when four currencies are present may appear periodic in nature, and not involve smooth convergence to a \balanced" ensemble of exchange rates in which the law of one price holds. The goal of this article is to understand some interesting features of sequences of arbitrage operations, features which might well be relevant in other contexts in finance and economics.