Demand aggregation and credit risk effects in pooled procurement: evidence from the Brazilian public purchases of pharmaceuticals and medical supplies

Pooled procurement has an important role in reducing acquisition prices of goods. A pool of buyers, which aggregates demand for its members, increases bargaining power and allows suppliers to achieve economies of scale and scope in the production. Such aggregation demand e ect lowers prices paid for buyers. However, when a buyer with a good reputation for paying suppliers in a timely manner is joined in the pool by a buyer with bad reputation may have its price paid increased due to the credit risk e ect on prices. This will happen because prices paid in a pooled procurement should refect the (higher) average buyers' credit risk. Using a data set on Brazilian public purchases of pharmaceuticals and medical supplies, we nd evidence supporting both e ects. We show that the prices paid by public bodies in Brazil are lower when they buy through pooled procurement than individually. On the other hand, federal agencies (i.e. good buyers) pay higher prices for products when they are joined by state agencies (i.e. bad buyers) in a pool. Such evidence suggests that pooled procurement should be carefully designed to avoid that prices paid increase for its members.

Pension legislation for federal public servants in Brazil

This paper addresses the creation of pension funds for federal civil servants in Brazil, analyzing the existing legislation and regulation on this issue. To this end, it takes off based on the genesis of the Brazilian private pension plans, logging the emergence of private funds as well as the existence of various laws and constitutional amendments prior to Law 12.618/2012, which provided for the pension funds system for Brazilian federal public servants. It also identifies proponents and opponents to the Foundation for Pension Funds of Federal Civil Servants (FUNPRESP), signaling the discursive construction of the pension fund schemes as central character in contemporary welfare capitalism. Finally, presents controversial aspects of the new pension fund law developments in Brazil.

Analysis of alternative tendering mechanisms for transportation Public-Private Partnerships

This paper describes a theoretical model based primarily on transaction costs, for comparing the various tendering mechanisms used for transportation Public-Private Partnership (PPP) projects. In particular, the model contrasts negotiated procedures with the open procedure, as defined by the current European Union legislation on public tendering. The model includes both ex ante transaction costs (borne during the tendering stage) and ex post transaction costs (such as enforcement costs, re-negotiation costs, and costs arising from litigation between partners), explaining the trade-off between them. Generally speaking, it is assumed that the open procedure implies lower transaction costs ex ante, while the negotiated procedure reduces the probability of the appearance of new contingencies not foreseen in the contract, hence diminishing the expected value of transaction costs ex post. Therefore, the balance between ex ante and ex post transaction costs is the main criterion for deciding whether the open or negotiated procedure would be optimal. Notwithstanding, empirical evidence currently exists only on ex ante transaction costs in transportation infrastructure projects. This evidence has shown a relevant difference between the two procedures as far as ex ante costs are concerned, favouring the open procedure. The model developed in this paper also demonstrates that a larger degree of complexity in a contract does not unequivocally favour the use of a negotiated procedure. Only in those cases dealing with very innovative projects, where important dimensions of the quality of the asset or service are not verifiable, may we observe an advantage in favour of the negotiated procedure. The bottom line is that we find it difficult to justify the employment of negotiated procedures in most transportation PPP contracts, especially in the field of roads. Nevertheless, the field remains open for future empirical work and research on the levels of transaction costs borne ex post in PPP contracts, as well as on the probabilities of such costs appearing under any of the procurement procedures.

Hearing on H.R. 2504 [microform] : to withdraw certain public lands in Eddy County, New Mexico : before the Procurement and Military Nuclear Systems Subcommittee of the Committee on Armed Services, House of Representatives, One Hundredth Congress, second session, hearing held September 8, 1988.

At head of title: H.A.S.C. no. 100-85.

Interstate and foreign transportation : hearings before the Joint Committee on Interstate and Foreign Commerce, Congress of the United States, pursuant to Public J. Res. 25, a joint resolution creating a joint subcommittee from the membership of the Senate Committee on Interstate Commerce and the House Committee on Interstate and Foreign Commerce to investigate the conditions relating to interstate and foreign commerce, and the necessity of further legislation relating thereto, and defing the powers and duties of such subcommittee.

Printed for the use of the Joint Committee on Interstate Commerce.

Bibliothèque de l'homme public, ou Analyse raisonnée des principaux ouvrages françois et étrangers, sur la politique en général, la legislation ... /

Mode of access: Internet.

Laws of Wisconsin relating to public schools : covering legislation enacted through ...

WI docs. no.: Ed.5:1972-1977

The trend of legislation for public health.

Mode of access: Internet.

Roads and bridge legislation. Hearings before the Subcommittee on Roads of the Committee on Public Works, House of Representatives, Eightieth Congress, second session, on bills pertaining to roads legislation, H.R. 3402, H.R. 3686, H.R. 3915, H.R. 4083, H.R. 4095, H.R. 4364, H.R. 4574, H.R. 4575, H.R. 5842, H.R. 6465, H.R. 6572, S. 1305, S. 1545, S. 1611, S. 1651, S. 2201. April 6, 22, May 4, 26, June 4, 1948.

"No. 24."

Supplement to the Code of Virginia : being a compilation of all acts of a general and permanent nature passed by the General Assembly since March 15, 1887 : to which are added references to decisions construing or affecting the Code of 1887, and subsequent legislation : including also references to all local public acts, passed during the same period, affecting particular counties, cities or towns of the Commonwealth /

Includes index.