From Smart Meters To Smart Decisions: Web-Based Support For The Water Efficient Household

Smart water metering technologies for residential buildings offer, in principle, great opportunities for sustainable urban water management. However, much of this potential is as yet unrealized. Despite that several ICT solutions have already been deployed aiming at optimum operations on the water utilities side (e.g. real time control for water networks, dynamic pump scheduling etc.), little work has been done to date on the consumer side. This paper presents a web-based platform targeting primarily the household end user. The platform enables consumers to monitor, on a real-time basis, the water demand of their household, providing feedback not only on the total water consumption and relevant costs but also on the efficiency (or otherwise) of specific indoor and outdoor uses. Targeting the reduction of consumption, the provided feedback is combined with notifications about possible leakages\bursts, and customised suggestions to improve the efficiency of existing household uses. It also enables various comparisons, with past consumption or even with that of similar households, aiming to motivate further the householder to become an active player in the water efficiency challenge. The issue of enhancing the platform’s functionality with energy timeseries is also discussed in view of recent advances in smart metering and the concept of “smart cities”. The paper presents a prototype of this web-based application and critically discusses first testing results and insights. It also presents the way in which the platform communicates with central databases, at the water utility level. It is suggested that such developments are closing the gap between technology availability and usefulness to end users and could help both the uptake of smart metering and awareness raising leading, potentially, to significant reductions of urban water consumption. The work has received funding from the European Union FP7 Programme through the iWIDGET Project, under grant agreement no318272.

Trade or investment? location decisions under regional integration

This paper studies the production and trade patterns that may arise between two different countries if plant location is introduced as a first step in the producers' decision making. A three-stage game is used: the first deals with location and the next two with capacity and final sales decisions. Demand and cost structures differ by country, and the latter contain specific elements related to the foreign operation. The structure of possible Nash-equilibria is examined and an analysis of the changes in the solution, if the countries engage in an integration process, is made. As in previous models, though global welfare gains may not be very high, single country ones may be considerable, due to changes in the location of the plants. However, even if full integration takes place, global Marshallian welfare may decrease. Conditions which determine a tendency towards multinationalisation are obtained. Assuming a move toward integration, conditions are also provided to characterize when exporting will be preferred to local production. The fact that producers may retain a certain discriminating power, notwithstanding the elimination of barriers to arbitrage, creates a tendency to locate production in the country where prices are higher. This explains why welfare gains may not be obvious. An empirical illustration, with real data from two MERCOSUL countries (Brazil and Argentina) illustrates the possible outcomes.

Simulation of Land Use and Investment Behaviour under Different Policy Scenarios: Results of the extended farm/household model. Factor Markets Working Paper No. 27, July 2012

Factor markets are a central issue in analyses of farm development and of agricultural sector vitality. Among the different production factors, land is one of the most studied. Several studies seek to estimate the effect of government policy payments on land value or land rental prices. The studies mostly agree that government payments and other types of policy support are significant in explaining land prices and account for a large share of them. In October 2011, the European Commission published a new policy proposal for the common agricultural policy (CAP) up to 2020. The proposed regulation includes a shift from historical to regional payments. The objective of this paper is to provide an ex ante analysis of the impact of the new CAP policy instruments on the land market. In particular, the effect of the regionalisation of payments in Italy is examined. The analysis is based on the use of a mathematical programming model to simulate the changes in land demand for a farm in Emilia Romagna. The results highlight the relevance of the new policy mechanism in determining a change in land demand. Yet the effect is highly dependent on initial ownership of entitlements under the historical payment scheme.

Market work and household production in Brazil

This thesis is composed of three papers in which the research questions are related to the double burden that accrues to Brazilian women. The first and second papers address this issue by looking at expenditure decisions about home production. The first paper examines whether the expenditure decisions about production goods, such as white appliances, relative to entertainment goods, such as TVs, are the outcome of a bargaining process between husbands and wives. The second paper looks at the demand for maid services and for production durable goods, examining the extent to which other household members substitute for maid services and durable goods in home production. The third paper addresses the effects of Brazilian women's double burden on their labor market participation by examining whether the occupational choice of Brazilian women is affected by their gender roles and whether entry into other occupations that are not identified as female occupations has become easier since the introduction of anti-discrimination laws in the labor market. The first paper combines two Brazilian data sets: a Brazilian household expenditure survey, Pesquisa de Orçamento Familiares (POF), and a Brazilian household survey, Pesquisa Nacional Por Amostra de Domicílios (PNAD). The results of the first paper indicate that the decision about durable goods ownership is the outcome of a bargaining process between husband and wife. The test on the coefficients of the marriage market variable and the indicators of households in which only the wife and households in which only the husband makes expenditure decisions corroborate the expectations about wives' preferences for production goods. The same data sets as the first paper are used in the second paper. The finding of the second paper indicates that if the marriage market is favorable to women, that is if the ratio of women to men goes from 1.07 to 0.96, the increment in the household probability of owning at least one maid's substitute durable goods is equivalent to 24% the impact of moving a household up one income quintile. Moreover, the results indicate that daughters' time substitutes for wives' time and maid services in home production. Parents may want daughters trained in home production to be able to perform their future role as wives. However, this training comes at a cost to daughters' investment in formal education, narrowing their future career options. The data used in the third paper come from a Brazilian household survey, Pesquisa Nacional Por Amostra de Domicílios (PNAD). Gender roles are responsible for women to choose female-dominated occupations, married women are 1.14 times more likely to work in female-dominated occupations and having a child six years and older increases on average by 12% the probability that women work in female-dominated occupations instead of genderintegrated occupations in 2001. However, it becomes easier for all types of women to enter into male-dominated and gender-integrated occupations in 2001 compared to 1981.

Decisions on investment allocation in the post-keynesian growth model

Neste artigo os modelos de crescimento e alocação de investimento a la Feldman-Mahalanobis são estendidos para considerar a análise de decisões de alocação de investimento no contexto do modelo de crescimento pós-Keynesiano. Ao adotar essa abordagem é possível introduzir características distributivas no modelo de Feldman-Mahalanobis que nos permitem determinar a taxa de alocação de investimentos de acordo com as decisões de equilíbrio entre investimento e poupança. Finalmente, uma condição adicional é adicionada ao modelo de crescimento pós-keynesiano, a fim de caracterizar plenamente o caminho de equilíbrio em uma versão estendida deste, onde bens de capital também são necessários para produzir bens de capital. _________________________________________________________________________________ ABSTRACT

Household portfolio allocation, risk attitudes and credit constraints : evidence from the eurozone

Mestrado em Economia Monetária e Financeira

An Economic Analysis of the Legal Concept of Trustees' Power of Investment

Authorised trustee status is a legal concept which has economic implications; one of the major implications is that it assists in the direction of investment funds into particular securities and areas of the economy. The concept of authorised trustee status, while attempting to achieve specific outcomes for the beneficiaries of trusts cannot be relied upon to secure these results. Economic analysis of the role of the trustee maintains that this role is one of portfolio manager; a role which is complex but which is explicable in terms of definable procedures and practices. The role of trustee as portfolio manager is one which requires greater financial knowledge than can be assumed is possessed by all trustees. The trustee as portfolio manager is required to maintain a review of decisions make under powers to invest trust assets. A solution to the problem of authorised trustee status is proposed. The solution takes two parts: the first is the adoption of the prudent person approach but with the codification of duties of the trustee and the explicit listing of the factors that a trustee should consider in using the investment powers. The second part of the proposed solution is to link the investment powers of trustees to the best practice features of securities advisers who are now licensed by a regulatory body, the Australian Securities and Investment Commission.

Marital status, farm size and other influences on the extent of cash cropping in Kenya: A household case study

This article examines the effects of marital status, farm size and other factors on the extent of cash cropping (and allocation of land use) by means of a case study in the Nyeri district in Kenya. It was found that married women are involved in the production of a relatively greater amount of output of cash crops than unmarried women since husbands prefer to have more land under cash crops than food crops. Farmers with better quality land allocate a high proportion of it to non-food cash crops, which may expose some households to greater risks of possible famine. The proportion of land allocated to food crops declines as the farm size increases while the proportion of land allocated to non-food cash crops rises as the size of farm increases. Age is also inversely associated with subsistence. Education, though inversely associated with subsistence farming does not appear to be statistically very significant as an influence on the composition of land use and composition of farm output. With growing commercialisation, married women work more hours than unmarried ones, working not only on non-cash food crops but also on non-food cash crops. Married women seem to lose their decision-making ability with growth of agricultural commercialisation, as husbands make most decisions to do with cash crops. Married women in Kenya also have little or no power to change the way land is allocated between food and non-food cash crops.

Does corruption inhibit foreign direct investment?

Globalization creates new opportunities for firms to invest abroad and many economies are making active efforts to attract Foreign Direct Investment (FDI) in order to promote economic growth. Decisions to invest abroad depend on a complex set of factors, but the least corrupt countries may attract more foreign direct investment because they provide a more favorable climate for investors. In this paper we investigate the impact of corruption on FDI inflows in 73 countries, over the period 1998-2008. Our results suggest that countries where corruption is lower, the FDI inflows are greater, and so controlling corruption may be an important strategy for increase FDI inflows.

Does corruption inhibit foreign direct investment?

Globalization creates new opportunities for firms to invest abroad and many economies are making active efforts to attract Foreign Direct Investment (FDI) in order to promote economic growth. Decisions to invest abroad depend on a complex set of factors, but the least corrupt countries may attract more foreign direct investment because they provide a more favorable climate for investors. In this paper we investigate the impact of corruption on FDI inflows in 73 countries, over the period 1998-2008. Our results suggest that countries where corruption is lower, the FDI inflows are greater, and so controlling corruption may be an important strategy for increase FDI inflows.

Political Risk, Economic Integration, and the Foreign Direct Investment Decision

In this paper we analyse the impact of policy uncertainty on foreign direct investment strategies. We also consider the impact of economic integration upon FDI decisions. The paper follows the real options approach, which allows investigating the value to a firm of waiting to invest and/or disinvest, when payoffs are stochastic due to political uncertainty and investments are partially reversible. Across the board we find that political uncertainty can be very detrimental to FDI decisions while economic integration leads to an increasing benefit of investing abroad.

Employment Protection, Flexibility and Firms’ Strategic Location Decisions under Uncertainty

We construct a model in which oligopolistic firms decide between locating in a country where employment protection implies costly output adjustments and in one without employment protection. Using a two-period three-stage game with uncertainty, we demonstrate that location is influenced by both flexibility and strategic concerns. The strategic effects under Cournot work towards domestic anchorage in the country with employment protection while those under Bertrand do not. Strategic agglomeration can occur in the inflexible country under Cournot and even under Bertrand, provided uncertainty and foreign direct investment costs are low.

Women's work histories in Italy: education as investment in reconciliation and legitimacy?

Within pre-enlargement Europe, Italy records one of the widest employment rate gaps between highly and poorly educated women, as well one of the largest differences in the share, among working women, of public sector employment. Building on these stylized facts and using the Longitudinal Survey of Italian Households (ILFI), we investigate the working trajectories of three cohorts of Italian women born between 1935 and 1964 and observed from their first job until they are in their forties. We use mainly, but not exclusively, event history analysis in order to identify the main factors that influence entry into and exit from paid work over the life course. Our results suggest that in the Italian context, where employment protection policies have also been used as surrogate measures to favour reconciliation between family and work, and where traditional gender norms still persist, education is so important for women's employment decisions because it represents an investment in 'reconciliation' and 'work legitimacy' over and above investment in human capital.

Regional child care availability and fertility decisions in Spain

In this paper I explore two hypotheses: (1) Formal child care availability for children under three has a positive effect across contexts, according to the degree of adaptation of social institutions to changes in gender roles. Event history models with regional fixed effects are applied to data from the European Community Household Panel (1994-2001). The results show a significant and positive effect of regional day care availability on both, first and higher order births, while results are consistent with the second hypothesis only for second or higher order births.