Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform provides the means for the exemplification of the usefulness of this ontology. A case study using the proposed multi-agent platform is presented, considering a scenario based on real data that simulates the European Electricity Market environment, and comparing its performance using different market mechanisms. The main goal is to demonstrate the advantages that the integration of various market models and simulation platforms have for the study of the electricity markets’ evolution.

Cuidados informais : os idosos em situação de dependência em Portugal

RESUMO - Enquadramento: As mudanças demográficas e na estrutura social das famílias precipitaram reformas das políticas dos cuidados de longa duração da população idosa no continente Europeu. Após um período em que as mulheres assumiam o papel de principais cuidadoras dos membros mais idosos, o aumento da sua inclusão no mercado de trabalho, assim como o envelhecimento geral da população introduziu mudanças no enquadramento dos cuidados a idosos. Estas mudanças têm particular impacte nos países da Europa do Sul, visto que tradicionalmente o cuidado a idosos é prestado maioritariamente pelo sector informal. Finalidade/objectivos: O presente estudo tem como finalidade conhecer as características dos cuidadores informais e dos idosos dependentes em Portugal. Definiram-se três objectivos principais. O primeiro é compreender a realidade demográfica, de saúde e dependência funcional dos idosos alvo de cuidados informais em Portugal. Em segundo pretende-se conhecer a situação actual dos prestadores informais de cuidados de longa duração em Portugal. Em terceiro, discutem-se os aspectos que mais influenciam a acessibilidade a cuidados informais entre os idosos dependentes em Portugal. Metodologia: Para concretizar estes objectivos, para além de se proceder a uma sistematização bibliográfica da literatura mais relevante nesta área, recorre-se à análise descritiva e regressão logística binária. Utilizando os dados do inquérito Survey of Health, Ageing and Retirement in Europe descreve-se a realidade nacional dos idosos dependentes e seus cuidadores informais e estimam-se modelos de acessibilidade aos cuidados informais em Portugal. Resultados/conclusões: Este estudo contribui para o conhecimento de três aspectos fundamentais sobre os cuidados informais em Portugal: o primeiro prende-se com a quantificação da realidade nacional dos idosos dependentes em Portugal; o segundo relaciona-se com a quantificação da situação portuguesa dos cuidadores informais; e, por último, estima-se modelos explicativos sobre a acessibilidade a cuidados informais. Para além da quantificação da realidade nacional, o principal contributo deste trabalho reside na demonstração de que o actual modelo de prestação de cuidados (baseado nos cuidados informais prestados por membros da família) deixa de fora uma parte significativa dos idosos dependentes. Na verdade, este estudo demonstra que uma parte significativa dos idosos não tem acesso a cuidados e que, embora sejam os elementos da família que maioritariamente prestam os cuidados informais, esse facto, por si só, não explica o acesso aos cuidados.

Three essays on the market for CEOs

A PhD Dissertation, presented as part of the requirements for the Degree of Doctor of Philosophy from the NOVA - School of Business and Economics

Some things couples always wanted to know about stable matchings (but were afraid to ask)

It is well-known that couples that look jointly for jobs in the same centralized labor market may cause instabilities. We demonstrate that for a natural preference domain for couples, namely the domain of responsive preferences, the existence of stable matchings can easily be established. However, a small deviation from responsiveness in one couple's preference relation that models the wish of a couple to be closer together may already cause instability. This demonstrates that the nonexistence of stable matchings in couples markets is not a singular theoretical irregularity. Our nonexistence result persists even when a weaker stability notion is used that excludes myopic blocking. Moreover, we show that even if preferences are responsive there are problems that do not arise for singles markets. Even though for couples markets with responsive preferences the set of stable matchings is nonempty, the lattice structure that this set has for singles markets does not carry over. Furthermore we demonstrate that the new algorithm adopted by the National Resident Matching Program to fill positions for physicians in the United States may cycle, while in fact a stable matchings does exist, and be prone to strategic manipulation if the members of a couple pretend to be single.

Labor supply response to international migration and remittances in the Republic of Haiti

The Republic of Haiti is the prime international remittances recipient country in the Latin American and Caribbean (LAC) region relative to its gross domestic product (GDP). The downside of this observation may be that this country is also the first exporter of skilled workers in the world by population size. The present research uses a zero-altered negative binomial (with logit inflation) to model households' international migration decision process, and endogenous regressors' Amemiya Generalized Least Squares method (instrumental variable Tobit, IV-Tobit) to account for selectivity and endogeneity issues in assessing the impact of remittances on labor market outcomes. Results are in line with what has been found so far in this literature in terms of a decline of labor supply in the presence of remittances. However, the impact of international remittances does not seem to be important in determining recipient households' labor participation behavior, particularly for women.

The Timing of labor demand

We examine the timing of firms' operations in a formal model of labor demand. Merging a variety of data sets from Portugal from 1995-2004, we describe temporal patterns of firms' demand for labor and estimate production-functions and relative labor-demand equations. The results demonstrate the existence of substitution of employment across times of the day/week and show that legislated penalties for work at irregular hours induce firms to alter their operating schedules. The results suggest a role for such penalties in an unregulated labor market, such as the United States, in which unusually large fractions of work are performed at night and on weekends.

Selection bias and unobservable heterogeneity applied at the wage equation of European married women

This paper utilizes a panel data sample selection model to correct the selection in the analysis of longitudinal labor market data for married women in European countries. We estimate the female wage equation in a framework of unbalanced panel data models with sample selection. The wage equations of females have several potential sources of.

Which firms want PhDs? The effect of the university-industry relationship on the PhD labour market

PhD graduates hold the highest education degree, are trained to conduct research and can be considered a key element in the creation, commercialization and diffusion of innovations. The impact of PhDs on innovation and economic development takes place through several channels such as the accumulation of scientific capital stock, the enhancement of technology transfers and the promotion of cooperation relationships in innovation processes. Although the placement of PhDs in industry provides a very important mechanism for transmitting knowledge from universities to firms, information about the characteristics of the firms that employ PhDs is very scarce. The goal of this paper is to improve understanding of the determinants of the demand for PhDs in the private sector. Three main potential determinants of the demand for PhDs are considered: cooperation between firms and universities, R&D activities of firms and several characteristics of firms, size, sector, productivity and age. The results from the econometric analysis show that cooperation between firms and universities encourages firms to recruit PhDs and point to the existence of accumulative effects in the hiring of PhD graduates.

Implantació de noves metodologies docents en el pla d'estudis de l'EUETII d'Igualada en el marc de l'EEES

Aquest projecte pretén incorporar a la titulació d’Enginyeria Tècnica en Química Industrial les competències transversals amb què hauran de comptar els futurs enginyers perquè entrin en el món laboral amb tots els requisits tècnics i competencials que requereixen els canvis dels models educatius (crèdits ECTS) i la canviant situació laboral en l’àmbit de la Unió Europea. La incorporació de competències transversals en les assignatures del pla d’estudis és un dels eixos bàsics plantejats en el Pla Estratègic 2005-2009 de l’Escola Universitària d’Enginyeria Tècnica Industrial d’Igualada. Aquest procés s’ha portat a terme en quatre fases: Disseny: Implicar els empresaris en el disseny de programes de formació que capacitin els estudiant en les competències que demana el mercat de treball. Presentació: Sensibilitzar els professors i els alumnes de la importància de desenvolupar competències transversals dins del marc actual i futur de l’ensenyament. Planificació de les assignatures: Portar a terme la incorporació de competències transversals de forma gradual des del primer curs i donar suport i formació a tot el professorat. Difusió: Divulgar la important transformació que s’està realitzant a l’Escola dins de l’àmbit de la nova implantació de competències transversals per formar als enginyers per tal de fer-los més competitius. Per a aconseguir l’adaptació de les assignatures del pla d’estudis a les noves directrius de l’EEES s’ha treballat des de dues vessants: a) introduint canvis metodològics en la forma d’impartir les assignatures per part del professorat per permetre la incorporació de competències transversals, com ara el treball en equip, a través de l’aprenentatge basat en projectes, i la competència lingüística en anglès, a partir de la introducció de l’anglès a l’aula, i b) adaptant al nou sistema la documentació associada a les matèries que s’imparteixen: guia docent, guies de les assignatures, etc.

Factor shares, the price markup, and the elasticity of substitution between capital and labor.

In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb-Douglas production function and perfect competition. Given the observed decline of the labor share in recent decades, this paper relaxes these assumptions, proposes a time-series calculation of the aggregate price mark-up reflecting the degree of imperfect competition in the product market, and provides estimates of the elasticity of substitution under such product market imperfections. We focus on Spain and the U.S. and show that the elasticity of substitution is above one in Spain and below one in the U.S. We also show that the price markup drives the elasticity of substitution away from one, upwards in Spain, downwards in the U.S. These results are used to explain the declining path of the labor income share, common to both economies, and their contrasted patterns in terms of capital deepening.

What underlies localization and urbanization economies? Evidence from the location of new firms

The objective of this paper is to analyze why firms in some industries locate in specialized economic environments (localization economies) while those in other industries prefer large city locations (urbanization economies). To this end, we examine the location decisions of new manufacturing firms in Spain at the city level and for narrowly defined industries (three-digit level). First, we estimate firm location models to obtain estimates that reflect the importance of localization and urbanization economies in each industry. In a second step, we regress these estimates on industry characteristics that are related to the potential importance of three agglomeration theories, namely, labor market pooling, input sharing and knowledge spillovers. Localization effects are low and urbanization effects are high in knowledge-intensive industries, suggesting that firms (partly) locate in large cities to reap the benefits of inter-industry knowledge spillovers. We also find that localization effects are high in industries that employ workers whose skills are more industry-specific, suggesting that industries (partly) locate in specialized economic environments to share a common pool of specialized workers.

The Ins and Outs of Unemployment: A Conditional Analysis

We analyze how unemployment, job finding and job separation rates react to neutral and investment-specific technology shocks. Neutral shocks increase unemployment and explain a substantial portion of unemployment volatility; investment-specific shocks expand employment and hours worked and mostly contribute to hours worked volatility. Movements in the job separation rates are responsible for the impact response of unemployment while job finding rates for movements along its adjustment path. Our evidence qualifies the conclusions by Hall (2005) and Shimer (2007) and warns against using search models with exogenous separation rates to analyze the effects of technology shocks.

How important is the intensive margin of labor adjustment?

Using new quarterly data for hours worked in OECD countries, Ohanian and Raffo (2011) argue that in many OECD countries, particularly in Europe, hours per worker are quantitatively important as an intensive margin of labor adjustment, possibly because labor market frictions are higher than in the US. I argue that this conclusion is not supported by the data. Using the same data on hours worked, I find evidence that labor market frictions are higher in Europe than in the US, like Ohanian and Raffo, but also that these frictions seem to affect the intensive margin at least as much as the extensive margin of labor adjustment.

The vanishing procyclicality of labor productivity

We document three changes in postwar US macroeconomic dynamics: (i) theprocyclicality of labor productivity has vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real wagehas risen. We propose an explanation for all three changes that is based on a common source: a decline in labor market frictions. We develop a simple model withlabor market frictions, variable effort, and endogenous wage rigidities to illustratethe mechanisms underlying our explanation. We show that the reduction in frictionsmay also have contributed to the observed decline in output volatility.

Employee referrals and efficiency wages

Many workers believe that personal contacts are crucial for obtainingjobs in high-wage sectors. On the other hand, firms in high-wage sectorsreport using employee referrals because they help provide screening andmonitoring of new employees. This paper develops a matching model thatcan explain the link between inter-industry wage differentials and useof employee referrals. Referrals lower monitoring costs because high-effortreferees can exert peer pressure on co-workers, allowing firms to pay lowerefficiency wages. On the other hand, informal search provides fewer job andapplicant contacts than formal methods (e.g., newspaper ads). In equilibrium,the matching process generates segmentation in the labor market becauseof heterogeneity in the size of referral networks. Referrals match good high-paying jobs to well-connected workers, while formal methods matchless attractive jobs to less-connected workers. Industry-level data show apositive correlation between industry wage premia and use of employeereferrals. Moreover, evidence using the NLSY shows similar positive andsignificant OLS and fixed-effects estimates of the returns to employeereferrals, but insignificant effects once sector of employment is controlledfor. This evidence suggests referred workers earn higher wages not becauseof higher unobserved ability or better matches but rather because theyare hired in high-wage sectors.