A new perspective on the PPP hypothesis

This paper the stastistical properties of the real exchange rates of G-5 countries for the Bretton-Woods peiod, and draw implications on the purchasing power parity (PPP) hypothesis. In contrast to most previous studies that consider only unit root and stationary process to describe the real exchange tae, this paper also considers two in-between processes, the locally persistent process ans the fractionally integrated process, to complement past studies. Seeking to be consistent with tha ample evidence of near unit in the real exchange rate movements very well. This finding implies that: 1) the real exchange movement is more persistent than the stationary case but less persistent than the unit root case; 2) the real exchange rate is non-stationary but the PPP reversion occurs and the PPP holds in the long run; 3) the real exchange rate does not exhibit the secular dependence of the fractional integration; 4) the real exchange rate evolves over time in a way that there is persistence over a range of time, but the effect of shocks will eventually disappear over time horizon longer than order O (nd), that is, at finite time horizon; 5) shocks dissipation is fasters than predicted by the fractional integracion, and the total sum of the effects of a unit innovation is finite, implying that a full PPP reversion occurs at finite horizons. These results may explain why pasrt empirical estudies could not provide a clear- conclusion on the real exchange rate processes and the PPP hypothesis.

Three essays on education from the perspective of the economics of public setor

This work consists of three essays organized into chapters that seek to answer questions at first sight unrelated, but with one common denominator, which is the scarcity of public resources devoted to education, overall, especially in lower education. . The first chapter deals with the scarcity of resources devoted to education in a context of population aging. Two hypotheses were tested for Brazilian municipalities on the relationship between the aging of the population and educational expenditure. The first, already proven in the literature, is that there is an intergenerational conflict for resources and the increase of the share of elderly in the population reduces the educational expenditure. The second, proposed here for the first time, is that there should be reduction of competition for resources if there is a relationship of co-residence between young and old. The results indicated that an increase in the share of elderly reduces the educational expenditure per youth. But the results also illustrate that an increase in the share of elderly co-residing with youth (family arrangement more common in Latin American countries) raises the educational expenditure, which reflects a reduction of competition for resources between generations. The second chapter assesses the allocative efficiency of investments in Higher Education. Using the difference between first-year and last-year students’ scores from Enade aggregated by HEI as a product in the Stochastic Production Function, is possible to contribute with a new element in the literature aimed at estimating the production function of education. The results show that characteristics of institutions are the variables that best explain the performance of students, and that public institutions are more inefficient than the private ones. Finally, the third chapter presents evidence that the allocation of public resources in early childhood education is important for a better future school performance. In this chapter was calculated the effects of early childhood education on literacy scores of children attending the 2nd grade of elementary school. The results using OLS and propensity score matching show that students who started school at the ages to 5, 4, and 3 years had literacy scores between 12.22 and 19.54 points higher than the scores of those who began school at the ages 6 years or late. The results also suggest that the returns in terms of literacy scores diminish in relation to the number of years of early childhood education.

Career concerns: a human capital perspective

We introduce human capital accumulation, in the form of learning by doing, in a life cycle model of career concerns and analyze how human capital acquisition a ects implicit incentives for performance. We show that standard results from the career concerns literature can be reversed in the presence of human capital accumulation. Namely, implicit incentives need not decrease over time and may decrease with the degree of uncertainty about an individual's talent. Furthermore, increasing the pre-cision of output measurement can weaken rather than strengthen implicit incentives. Overall, our results contribute to shed new light on the ability of markets to discipline moral hazard in the absence of explicit contracts linking pay to performance.

Operations strategy in perspective: the means for achieving superior performance

Manufacturing strategy has been widely studied and it is increasingly gaining attention. It has a fundamental role that is to translate the business strategy to the operations by developing the capabilities that are needed by the company in order to accomplish the desired performance. More precisely, manufacturing strategy comprises the decisions that managers take during a certain period of time in order to achieve a desire result. These decisions are related to which operational practices and resources are implemented. Our goal was to identify the relationship between these two decisions with operational performance. We based our arguments on the resource-based view for identifying sources of competitive advantage. Hence, we argued that operational practices and resources affect positively the operational performances. Additionally, we proposed that in the presence of some resources the implementation of operational practices would lead to a greater performance. We used previous scales for measuring operational practices and performance, and developed new constructs for resources. The data used is part of the High Performance Manufacturing project and the sample is composed by 291 plants. Through confirmatory factor analysis and multiple regressions we found that operational practices to a certain extant are positively related to operational performance. More specifically, the results show that JIT and customer orientation practices have a positive relationship with quality, delivery, flexibility, and cost performances. Moreover, we found that resources like technology and people explain a great variance of operational performance.

The Brazilian foreign exchange market through the microstructure perspective

The objective of this study is to investigate whether the relationship between order ow and the spot exchange rate stems from the fact that the ow aggregates information on dispersed economic fundamentals in the economy. To perform this test, a database that includes all transactions of the commercial and nancial segments of the Brazilian primary foreign exchange market between January of 1999 and May of 2008 was used. We show that the order ow was partly responsible for variations in in ation expectations over the time period and that this relationship did not remain robust, drawing comparisons with other fundamentals such as GDP and Industrial Production.

In situ differentiation of labile/inert metal species in Brazilian tropical rivers by means of a time-controlled batch-procedure based on TEPHA resin

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Phenomenology as a method to investigate the experience lived: a perspective from Husserl and Merleau Ponty's thought

Aim. By taking nursing as a human relationships activity, in spite of its strong technical-scientific features, this article reflects on the phenomenological method as one of the ways to develop ail investigation and acquire knowledge of the topic.Rationale. Based on Husserl's phenomenology, which is opposed to the way of doing science based on the laws that regulate the physics and mathematics, the article introduces Merleau Ponty's existential phenomenology as the theoretical foundation for the method it proposes. My existential conceptions-people as historic beings inserted in a world over which they act but which, in its turn, determines them; the human perception as reference for our way of being in the world; the space-time structure of perception-these are the key concepts that have led to the elaboration of ail approach to phenomenological research.Proposal of a methodology. Steps are proposed for such ail approach, namely phenomenological description, reduction and analysis. These lead to the building up of ideographic and nomothetic analyses, thus unveiling and describing general truths about the phenomenon studied. Finally, the possibilities for applying the methodology to nursing research are discussed, illustrated by my research into student nurses' perspectives on working oil an isolation ward.

Camponeses Brazil's Peasant Movement in Historical Perspective (1946-2004)

Comparison of the histories of three leading peasant organizations in the Pontal do Paranapanema region of Brazil-the Partido Comunista do Brasil (PCB) from 1945 to 1964, the Confederacao Nacional de Trabalhadores na Agricultura (CONTAG) from 1964 to 1984, and the Movimento dos Trabalhadores Rurais Sem-Terra (MST) from 1984 to 2004-suggests that continuity is as important as change in understanding Brazilian peasant movements. The MST has been considered a "new social movement" in that it has eschewed partisan politics, incorporated families as members rather than just male heads of household, had a national scope and a participatory decision-making structure, and been attuned to the international struggle over globalization. Placing it in historical perspective makes it clear, however, that this is not the first time that militants have organized around the concept of peasants as a political identity; that while the representation of peasants in the leadership of contemporary rural labor organizations may be greater than in the past, earlier peasant leaders also struggled on behalf of their class; that earlier peasant organizations had, if not a national presence, a substantial presence in the agricultural states of the time; and that attempts at international organization to unite peasant struggles around the globe are not entirely new. This is not to deny the innovative features of contemporary movements but to suggest that the investigation of past achievements will contribute to a fuller appreciation of these movements' conditions and prospects.

The millennium development goals: a Latin American and Caribbean perspective

Includes bibliography

Trade and economic growth: a Latin American perspective on rhetoric and reality

Incluye Bibliografía

The economic and financial crisis: its impact on poverty, work and women's time

Incluye Bibliografía

Understanding poverty from a gender perspective

Includes bibliography

The fifth freedom and the Southern Cone: a new perspective

An ECLAC document to be published in the near future examines a subject that has become a frequent topic of discussion in recent years, particularly in the Southern Cone of Latin America (Argentina, Bolivia, Brazil, Chile, Paraguay, Peru and Uruguay), where the greatest volume of land transport in South America is concentrated. Against a background of economic liberalization and integration in the region, and at a time when the development of regional transport infrastructures is growing in importance, the ECLAC Transport Unit analyses the Southern Cone Agreement on International Land Transport (Valparaíso, 1989) in an effort to give it fresh relevance and to determine whether its provisions can cope with the new challenges thrown up by more open international transport markets and management.

Generalizing the dynamic field theory of spatial cognition across real and developmental time scales

Within cognitive neuroscience, computational models are designed to provide insights into the organization of behavior while adhering to neural principles. These models should provide sufficient specificity to generate novel predictions while maintaining the generality needed to capture behavior across tasks and/or time scales. This paper presents one such model, the Dynamic Field Theory (DFT) of spatial cognition, showing new simulations that provide a demonstration proof that the theory generalizes across developmental changes in performance in four tasks—the Piagetian A-not-B task, a sandbox version of the A-not-B task, a canonical spatial recall task, and a position discrimination task. Model simulations demonstrate that the DFT can accomplish both specificity—generating novel, testable predictions—and generality—spanning multiple tasks across development with a relatively simple developmental hypothesis. Critically, the DFT achieves generality across tasks and time scales with no modification to its basic structure and with a strong commitment to neural principles. The only change necessary to capture development in the model was an increase in the precision of the tuning of receptive fields as well as an increase in the precision of local excitatory interactions among neurons in the model. These small quantitative changes were sufficient to move the model through a set of quantitative and qualitative behavioral changes that span the age range from 8 months to 6 years and into adulthood. We conclude by considering how the DFT is positioned in the literature, the challenges on the horizon for our framework, and how a dynamic field approach can yield new insights into development from a computational cognitive neuroscience perspective.

Children’s Play in Cross-Cultural Perspective: A New Look at the Six Cultures Study

A qualitative and quantitative reanalysis of the Six Cultures data on children’s play, collected in the 1950s, was performed to revisit worlds of childhood during a time when sample communities were more isolated from mass markets and media than they are today. A count was performed of children aged 3 to 10 in each community sample scored as engaging in creative-constructive play, fantasy play, role play, and games with rules. Children from Nyansongo and Khalapur scored lowest overall, those from Tarong and Juxtlahuaca scored intermediate, and those from Taira and Orchard Town scored highest. Cultural norms and opportunities determined how the kinds of play were stimulated by the physical and social environments (e.g., whether adults encouraged work versus play, whether children had freedom for exploration and motivation to practice adult roles through play, and whether the environment provided easy access to models and materials for creative and constructive play).