845 resultados para new open economy macroeconomics
Resumo:
Taken as a policy framework, active aging ranks high on most supranational bodies’ agenda. The new political economy of aging portrays “active” citizenship amongst seniors as a key challenge for the years to come. Our research focuses on, first, elderly women’s everyday ‘active’ practices, their meaning and purpose, in the context of Quebec’s active aging policy framework; and second, their day-to-day practical citizenship experiences. Informed by discourse analysis and a narrative approach, the life stories of women 60 to 70 years of age allowed for the identification of a plethora of distinctive old age activity figures. More specifically, four activity figures were identified by which respondents materialize their routine active practices, namely: (1) paid work; (2) voluntary and civic engagement; (3) physical activity; and (4) caregiving. Set against Quebec’s active aging policy framework, these patterns and set of practices that underpin them are clearly in tune with government’s dominant perspectives. Respondents’ narratives also show that active aging connotes a range of ‘ordinary’ activities of daily living, accomplished within people’s private worlds and places of proximity. Despite nuances, tensions and opposition found in dominant public discourse, as well as in active aging practices, a form of counter-discourse does not emerge from respondents’ narratives. To be active is normally the antithesis of immobility and dependence. Thus, to see oneself as active in old age draws on normative, positive assumptions about old age quite difficult to refute; nevertheless, discourses also raise identity and relational issues. In this respect, social inclusion issues cut across all active aging practices described by respondents. Moreover, a range of individual aims and quests underpin activity pattern. Such quests express respondents’ subjective interactions with their social environment; including their actions’ meaning and sense of social inclusiveness in old age. A first quest relates to personal identity and social integration to the world; a second one concerns giving; a third centers on the search for authenticity; whereas the fourth one is connected to a desire for freedom. It is through the objectivising of active practices and related existential pursuits that elderly woman recognize themselves as active citizens, rooted in the community, and variously contributing to society. Accordingly, ‘active’ citizenship experiences are articulated in a dialogic manner between the dimensions of ‘doing’, ‘active’ social practices, and ‘being’ in relation to others, within a context of interdependence. A proposed typology allows for the modeling of four ‘active’ citizenship figures. Overall, despite the role played by power relations and social inequality in structuring aging experiences, in everyday life ‘old age citizenship’ appears as a relational process, embedded in a set of social relations and practices involving individuals, families and communities, whereby elderly women are able to express a sense of agency within their social world.
Resumo:
Taken as a policy framework, active aging ranks high on most supranational bodies’ agenda. The new political economy of aging portrays “active” citizenship amongst seniors as a key challenge for the years to come. Our research focuses on, first, elderly women’s everyday ‘active’ practices, their meaning and purpose, in the context of Quebec’s active aging policy framework; and second, their day-to-day practical citizenship experiences. Informed by discourse analysis and a narrative approach, the life stories of women 60 to 70 years of age allowed for the identification of a plethora of distinctive old age activity figures. More specifically, four activity figures were identified by which respondents materialize their routine active practices, namely: (1) paid work; (2) voluntary and civic engagement; (3) physical activity; and (4) caregiving. Set against Quebec’s active aging policy framework, these patterns and set of practices that underpin them are clearly in tune with government’s dominant perspectives. Respondents’ narratives also show that active aging connotes a range of ‘ordinary’ activities of daily living, accomplished within people’s private worlds and places of proximity. Despite nuances, tensions and opposition found in dominant public discourse, as well as in active aging practices, a form of counter-discourse does not emerge from respondents’ narratives. To be active is normally the antithesis of immobility and dependence. Thus, to see oneself as active in old age draws on normative, positive assumptions about old age quite difficult to refute; nevertheless, discourses also raise identity and relational issues. In this respect, social inclusion issues cut across all active aging practices described by respondents. Moreover, a range of individual aims and quests underpin activity pattern. Such quests express respondents’ subjective interactions with their social environment; including their actions’ meaning and sense of social inclusiveness in old age. A first quest relates to personal identity and social integration to the world; a second one concerns giving; a third centers on the search for authenticity; whereas the fourth one is connected to a desire for freedom. It is through the objectivising of active practices and related existential pursuits that elderly woman recognize themselves as active citizens, rooted in the community, and variously contributing to society. Accordingly, ‘active’ citizenship experiences are articulated in a dialogic manner between the dimensions of ‘doing’, ‘active’ social practices, and ‘being’ in relation to others, within a context of interdependence. A proposed typology allows for the modeling of four ‘active’ citizenship figures. Overall, despite the role played by power relations and social inequality in structuring aging experiences, in everyday life ‘old age citizenship’ appears as a relational process, embedded in a set of social relations and practices involving individuals, families and communities, whereby elderly women are able to express a sense of agency within their social world.
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ResumenLa economía costarricense es una economía pequeña pero muy abierta al exterior, por ello, lo que ocurre en el resto del mundo nos afecta de alguna manera. Cuando estalló la crisis en los Estados Unidos, sus repercusiones se hicieron notar poco a poco alrededor del mundo. En un principio el principal efecto sobre nuestro país se vio reflejado en la inflación, sin embargo, conforme transcurrió el tiempo los efectos saltaron al sector real de la economía, es decir, a la producción y al empleo. En este artículo se analizan los principales efectos que hasta el momento ha tenido la crisis económica mundial en nuestro país, entre ellos se mencionan, la inflación; el decrecimiento en la actividad económica de los sectores construcción, industria, comercio y hoteles, principalmente; la caída en el turismo, las remesas, la Inversión Extranjera Directa (IED), las exportaciones e importaciones y, por último, la reducción en el empleo.Abstract Costa Rican economy is a very small open economy; therefore, what happens in the rest of the world affects us in some way. When the crisis in the United States exploded, its impact was slowly evident around the world. At first, the main effect on our country was reflected in inflation; however, the effects were then clear on the real sector of the economy, i.e. production and employment. This article examines the main effects which so far have been the global economic crisis in our economy, including inflation, and the decline in the economic activity in the construction sector, industry, commerce and hotels, primarily; as well as the fall in tourism, remittances, Foreign Direct Investment, exports and imports, and finally the reduction in employment.
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An important assumption in the statistical analysis of the financial market effects of the central bank’s large scale asset purchase program is that the "long-term debt stock variables were exogenous to term premia". We test this assumption for a small open economy in a currency union over the period 2000M3 to 2015M10, via the determinants of short- term financing relative to long-term financing. Empirical estimations indicate that the maturity composition of debt does not respond to the level of interest rate or to the term structure. These findings suggest a lower adherence to the cost minimization mandate of debt management. However, we find that volatility and relative market size respectively decrease and increase short-term financing relative to long-term financing, while it decreases with an increase in government indebtedness.
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In spite of increasing globalization around the world, the effects of international trade on economic growth are not very clear. I consider an endogenous economic growth model in an open economy with the Home Market Effect (HME) and non-homothetic preferences in order to identify some determinants of the different results in this relationship. The model shows how trade between similar countries leads to convergence in economic growth when knowledge spillovers are present, while trade between very asymmetric countries produces divergence and may become trade in a poverty or growth trap. The results for welfare move in the same direction as economic growth since convergence implies increases in welfare for both countries, while divergence leads to increases in welfare for the largest country and the opposite for its commercial partner in the absence of knowledge spillovers. International trade does not implicate greater welfare as is usual in a static context under CES preferences.
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Il primo capitolo introduce l’importante problema dei rifiuti plastici e l’impatto che hanno nell’ambiente, esaminando sia i rifiuti plastici di grandi dimensioni sia le microplastiche. A riguardo, un documento molto significativo è quello della New Plastics Economy: questo raccoglie rilevanti informazioni sull’andamento della produzione e dei rifiuti plastici negli anni e va a delineare dei suggerimenti, delle linee guida che dovrebbero essere adottate per migliorare questa attuale condizione di crisi ambientale dovuta proprio alle materie plastiche. Il secondo capitolo ha il compito di introdurre i trentasei nuovi biocompositi in fase di produzione e sperimentazione e con loro il primo progetto grafico di tesi del catalogo per l’azienda Arianna Fibers. Una prima parte affronta il tema della valorizzazione dello scarto. Ed è qui che i gusci di frutta secca hanno l’opportunità di trasformarsi da rifiuto in risorsa, da materia di scarto in materia prima. Karà bio-compositi sono dei nuovi materiali composti da una matrice di bioplastica biodegradabile e da scarti di gusci di frutta secca. Il mio obiettivo è stato quello di progettare un catalogo di questi materiali che raccoglie campioni materici, informazioni, foto, render e applicazioni. Il terzo capitolo riguarda la progettazione del packaging cosmetico come applicazione dei nuovi materiali biocompositi precedentemente descritti. Si parla dunque di Impronta Ambientale, LCA ed Ecodesign del packaging cosmetico e da queste ed altre valutazioni su casi studio presenti sul mercato nasce Karà bio-cosmetics: una linea di packaging cosmetici sostenibili realizzati con i materiali biocompositi biodegradabili. La tipologia di materiale scelto è quella dei biocompositi a matrice PHA, unica bioplastica biodegradabile in ambiente aperto. Si tratta di una linea di diversi pezzi associabili a vari tipi di cosmetici che l’utente potrà poi personalizzare.
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Avec les avancements de la technologie de l'information, les données temporelles économiques et financières sont de plus en plus disponibles. Par contre, si les techniques standard de l'analyse des séries temporelles sont utilisées, une grande quantité d'information est accompagnée du problème de dimensionnalité. Puisque la majorité des séries d'intérêt sont hautement corrélées, leur dimension peut être réduite en utilisant l'analyse factorielle. Cette technique est de plus en plus populaire en sciences économiques depuis les années 90. Étant donnée la disponibilité des données et des avancements computationnels, plusieurs nouvelles questions se posent. Quels sont les effets et la transmission des chocs structurels dans un environnement riche en données? Est-ce que l'information contenue dans un grand ensemble d'indicateurs économiques peut aider à mieux identifier les chocs de politique monétaire, à l'égard des problèmes rencontrés dans les applications utilisant des modèles standards? Peut-on identifier les chocs financiers et mesurer leurs effets sur l'économie réelle? Peut-on améliorer la méthode factorielle existante et y incorporer une autre technique de réduction de dimension comme l'analyse VARMA? Est-ce que cela produit de meilleures prévisions des grands agrégats macroéconomiques et aide au niveau de l'analyse par fonctions de réponse impulsionnelles? Finalement, est-ce qu'on peut appliquer l'analyse factorielle au niveau des paramètres aléatoires? Par exemple, est-ce qu'il existe seulement un petit nombre de sources de l'instabilité temporelle des coefficients dans les modèles macroéconomiques empiriques? Ma thèse, en utilisant l'analyse factorielle structurelle et la modélisation VARMA, répond à ces questions à travers cinq articles. Les deux premiers chapitres étudient les effets des chocs monétaire et financier dans un environnement riche en données. Le troisième article propose une nouvelle méthode en combinant les modèles à facteurs et VARMA. Cette approche est appliquée dans le quatrième article pour mesurer les effets des chocs de crédit au Canada. La contribution du dernier chapitre est d'imposer la structure à facteurs sur les paramètres variant dans le temps et de montrer qu'il existe un petit nombre de sources de cette instabilité. Le premier article analyse la transmission de la politique monétaire au Canada en utilisant le modèle vectoriel autorégressif augmenté par facteurs (FAVAR). Les études antérieures basées sur les modèles VAR ont trouvé plusieurs anomalies empiriques suite à un choc de la politique monétaire. Nous estimons le modèle FAVAR en utilisant un grand nombre de séries macroéconomiques mensuelles et trimestrielles. Nous trouvons que l'information contenue dans les facteurs est importante pour bien identifier la transmission de la politique monétaire et elle aide à corriger les anomalies empiriques standards. Finalement, le cadre d'analyse FAVAR permet d'obtenir les fonctions de réponse impulsionnelles pour tous les indicateurs dans l'ensemble de données, produisant ainsi l'analyse la plus complète à ce jour des effets de la politique monétaire au Canada. Motivée par la dernière crise économique, la recherche sur le rôle du secteur financier a repris de l'importance. Dans le deuxième article nous examinons les effets et la propagation des chocs de crédit sur l'économie réelle en utilisant un grand ensemble d'indicateurs économiques et financiers dans le cadre d'un modèle à facteurs structurel. Nous trouvons qu'un choc de crédit augmente immédiatement les diffusions de crédit (credit spreads), diminue la valeur des bons de Trésor et cause une récession. Ces chocs ont un effet important sur des mesures d'activité réelle, indices de prix, indicateurs avancés et financiers. Contrairement aux autres études, notre procédure d'identification du choc structurel ne requiert pas de restrictions temporelles entre facteurs financiers et macroéconomiques. De plus, elle donne une interprétation des facteurs sans restreindre l'estimation de ceux-ci. Dans le troisième article nous étudions la relation entre les représentations VARMA et factorielle des processus vectoriels stochastiques, et proposons une nouvelle classe de modèles VARMA augmentés par facteurs (FAVARMA). Notre point de départ est de constater qu'en général les séries multivariées et facteurs associés ne peuvent simultanément suivre un processus VAR d'ordre fini. Nous montrons que le processus dynamique des facteurs, extraits comme combinaison linéaire des variables observées, est en général un VARMA et non pas un VAR comme c'est supposé ailleurs dans la littérature. Deuxièmement, nous montrons que même si les facteurs suivent un VAR d'ordre fini, cela implique une représentation VARMA pour les séries observées. Alors, nous proposons le cadre d'analyse FAVARMA combinant ces deux méthodes de réduction du nombre de paramètres. Le modèle est appliqué dans deux exercices de prévision en utilisant des données américaines et canadiennes de Boivin, Giannoni et Stevanovic (2010, 2009) respectivement. Les résultats montrent que la partie VARMA aide à mieux prévoir les importants agrégats macroéconomiques relativement aux modèles standards. Finalement, nous estimons les effets de choc monétaire en utilisant les données et le schéma d'identification de Bernanke, Boivin et Eliasz (2005). Notre modèle FAVARMA(2,1) avec six facteurs donne les résultats cohérents et précis des effets et de la transmission monétaire aux États-Unis. Contrairement au modèle FAVAR employé dans l'étude ultérieure où 510 coefficients VAR devaient être estimés, nous produisons les résultats semblables avec seulement 84 paramètres du processus dynamique des facteurs. L'objectif du quatrième article est d'identifier et mesurer les effets des chocs de crédit au Canada dans un environnement riche en données et en utilisant le modèle FAVARMA structurel. Dans le cadre théorique de l'accélérateur financier développé par Bernanke, Gertler et Gilchrist (1999), nous approximons la prime de financement extérieur par les credit spreads. D'un côté, nous trouvons qu'une augmentation non-anticipée de la prime de financement extérieur aux États-Unis génère une récession significative et persistante au Canada, accompagnée d'une hausse immédiate des credit spreads et taux d'intérêt canadiens. La composante commune semble capturer les dimensions importantes des fluctuations cycliques de l'économie canadienne. L'analyse par décomposition de la variance révèle que ce choc de crédit a un effet important sur différents secteurs d'activité réelle, indices de prix, indicateurs avancés et credit spreads. De l'autre côté, une hausse inattendue de la prime canadienne de financement extérieur ne cause pas d'effet significatif au Canada. Nous montrons que les effets des chocs de crédit au Canada sont essentiellement causés par les conditions globales, approximées ici par le marché américain. Finalement, étant donnée la procédure d'identification des chocs structurels, nous trouvons des facteurs interprétables économiquement. Le comportement des agents et de l'environnement économiques peut varier à travers le temps (ex. changements de stratégies de la politique monétaire, volatilité de chocs) induisant de l'instabilité des paramètres dans les modèles en forme réduite. Les modèles à paramètres variant dans le temps (TVP) standards supposent traditionnellement les processus stochastiques indépendants pour tous les TVPs. Dans cet article nous montrons que le nombre de sources de variabilité temporelle des coefficients est probablement très petit, et nous produisons la première évidence empirique connue dans les modèles macroéconomiques empiriques. L'approche Factor-TVP, proposée dans Stevanovic (2010), est appliquée dans le cadre d'un modèle VAR standard avec coefficients aléatoires (TVP-VAR). Nous trouvons qu'un seul facteur explique la majorité de la variabilité des coefficients VAR, tandis que les paramètres de la volatilité des chocs varient d'une façon indépendante. Le facteur commun est positivement corrélé avec le taux de chômage. La même analyse est faite avec les données incluant la récente crise financière. La procédure suggère maintenant deux facteurs et le comportement des coefficients présente un changement important depuis 2007. Finalement, la méthode est appliquée à un modèle TVP-FAVAR. Nous trouvons que seulement 5 facteurs dynamiques gouvernent l'instabilité temporelle dans presque 700 coefficients.
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This is a talk on the new University Open Data Service, some of the applications it's already being put to, and some of the things we hope to do next.
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The British countryside has been shaped and sustained over the years by the establishment of landed estates. Some of our best known, and now most protected, landmarks derive from this tradition by which money, that was often sourced from outside the rural economy, was invested in land. Whilst there was some reversal in this trend during the last century, there is again a widespread desire among people of means to invest in new country property. Paragraph 3.21 of Planning Policy Guidance Note 7: The Countryside - Environmental Quality and Economic and Social Development was introduced in 1997 as a means of perpetuating the historic tradition of innovation in the countryside through the construction of fine individual houses in landscaped grounds. That it was considered necessary to use a special provision of this kind reflects the prevailing presumption of planning authorities against allowing private residential development in open countryside. The Government is currently reviewing rural planning policy and is focusing on higher density housing, affordable homes and the use of brownfield sites. There is an underlying conception that individual private house developments contribute nothing and are seen as the least attractive option for most development sites. The purpose of paragraph 3.21 lies outside the government’s priorities and its particular provisions may therefore be excluded in forthcoming ‘policy statements’. This paper seeks to examine the role of private investors wishing to build new houses in the countryside, and the impact that that might have on local economies. It explores the interpretation placed on PPG7 through an investigation of appeal sites, and concludes by making recommendations for the review process, including the retention of some form of exceptions policy for new build houses.
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This paper will argue that the American economy could and will absorb the recent shocks, and that in the longer run (within a matter of years), it will somehow convert the revealed weaknesses to its advantage. America has a long record of learning from its excesses to improve the working of its particular brand of capitalism, dating back to the imposition of antitrust controls on the robber barons in the late 1800s and the enhancement of investor protection after the 1929 crash. The American economy has experienced market imperfections of all kinds but it almost always has found, true, not perfect, but fairly reliable regulatory answers and has managed to adapt to change, (e. g. Dodd-Frank Act on financial stability). The U.S. has many times pioneered in the elaboration of both theoretical and policy oriented solutions for conflicts between markets and government to increase economic welfare (Bernanke, 2008, p. 425). There is no single reason why it should not turn the latest financial calamities to its advantage. At the same time, to regain confidence in capitalism as a global system, global efforts are indispensable. To identify some of the global economic conflicts that have a lot to do with U.S. markets in particular, we seek answers to global systemic questions.
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Today, global economic performance largely depends on digital ecosystems. E-commerce, cloud, social media, sharing economy are the main products of the modern innovative economic systems which are constantly raising new regulatory questions. Meanwhile the United States has an unimpeachable dominance in innovation and new technologies, as well as a large and open domestic market, the EU is only recently discovering the importance of empowering the European digital economy and aims to break down its highly fragmented cross-border online economic environment. As global economy is rapidly becoming digital, Europe’s effort to create and invest in common digital market is understandable. The comprehensive investigations launched by the European Commission into the role of social network, search engine, or sharing economy internet platforms, which are new generation technologies dominated by American firms; or the recent decision of the Court of Justice of the European Union declaring that the Commission’s US Safe Harbor Decision is invalid1 might be considered as part of an anti-American protectionist policy. However, these measures could rather be seen as part of a broader trend to foster European enterprises in technology developments.
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Context. Previous analyses of lithium abundances in main sequence and red giant stars have revealed the action of mixing mechanisms other than convection in stellar interiors. Beryllium abundances in stars with Li abundance determinations can offer valuable complementary information on the nature of these mechanisms. Aims. Our aim is to derive Be abundances along the whole evolutionary sequence of an open cluster. We focus on the well-studied open cluster IC 4651. These Be abundances are used with previously determined Li abundances, in the same sample stars, to investigate the mixing mechanisms in a range of stellar masses and evolutionary stages. Methods. Atmospheric parameters were adopted from a previous abundance analysis by the same authors. New Be abundances have been determined from high-resolution, high signal-to-noise UVES spectra using spectrum synthesis and model atmospheres. The careful synthetic modeling of the Be lines region is used to calculate reliable abundances in rapidly rotating stars. The observed behavior of Be and Li is compared to theoretical predictions from stellar models including rotation-induced mixing, internal gravity waves, atomic diffusion, and thermohaline mixing. Results. Beryllium is detected in all the main sequence and turn-off sample stars, both slow- and fast-rotating stars, including the Li-dip stars, but is not detected in the red giants. Confirming previous results, we find that the Li dip is also a Be dip, although the depletion of Be is more modest than for Li in the corresponding effective temperature range. For post-main-sequence stars, the Be dilution starts earlier within the Hertzsprung gap than expected from classical predictions, as does the Li dilution. A clear dispersion in the Be abundances is also observed. Theoretical stellar models including the hydrodynamical transport processes mentioned above are able to reproduce all the observed features well. These results show a good theoretical understanding of the Li and Be behavior along the color-magnitude diagram of this intermediate-age cluster for stars more massive than 1.2 M(circle dot).
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Context. VISTA Variables in the Via Lactea (VVV) is one of the six ESO Public Surveys operating on the new 4-m Visible and Infrared Survey Telescope for Astronomy (VISTA). VVV is scanning the Milky Way bulge and an adjacent section of the disk, where star formation activity is high. One of the principal goals of the VVV Survey is to find new star clusters of different ages. Aims. In order to trace the early epochs of star cluster formation we concentrated our search in the directions to those of known star formation regions, masers, radio, and infrared sources. Methods. The disk area covered by VVV was visually inspected using the pipeline processed and calibrated K(S)-band tile images for stellar over-densities. Subsequently, we examined the composite JHK(S) and ZJK(S) color images of each candidate. PSF photometry of 15 x 15 arcmin fields centered on the candidates was then performed on the Cambridge Astronomy Survey Unit reduced images. After statistical field-star decontamination, color-magnitude and color-color diagrams were constructed and analyzed. Results. We report the discovery of 96 new infrared open clusters and stellar groups. Most of the new cluster candidates are faint and compact (with small angular sizes), highly reddened, and younger than 5 Myr. For relatively well populated cluster candidates we derived their fundamental parameters such as reddening, distance, and age by fitting the solar-metallicity Padova isochrones to the color-magnitude diagrams.