From hard-peg to hard landing?: recent experiences of Argentina and Ecuador

Includes bibliography

How non-traditional are non-traditional exports? The experience of seven countries of the Caribbean Basin

Includes bibliography

The "China effect" on commodity prices and Latin American export earnings

Includes bibliography

Bilevel approach for optimal location and contract pricing of distributed generation in radial distribution systems using mixed-integer linear programming

In this study, a novel approach for the optimal location and contract pricing of distributed generation (DG) is presented. Such an approach is designed for a market environment in which the distribution company (DisCo) can buy energy either from the wholesale energy market or from the DG units within its network. The location and contract pricing of DG is determined by the interaction between the DisCo and the owner of the distributed generators. The DisCo intends to minimise the payments incurred in meeting the expected demand, whereas the owner of the DG intends to maximise the profits obtained from the energy sold to the DisCo. This two-agent relationship is modelled in a bilevel scheme. The upper-level optimisation is for determining the allocation and contract prices of the DG units, whereas the lower-level optimisation is for modelling the reaction of the DisCo. The bilevel programming problem is turned into an equivalent single-level mixed-integer linear optimisation problem using duality properties, which is then solved using commercially available software. Results show the robustness and efficiency of the proposed model compared with other existing models. As regards to contract pricing, the proposed approach allowed to find better solutions than those reported in previous works. © The Institution of Engineering and Technology 2013.

A escravidão na fronteira: um estudo da escravidão negra numa boca do sertão paulista. Lençóes, 1860-1888

Pós-graduação em Economia - FCLAR

Voz narrativa e memória: a busca de identidade pelas protagonistas de Felicidade clandestina, de Clarice Lispector e de Lives of girls and women, de Alice Munro. -

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

Preliminary Overview of the Economies of Latin America and the Caribbean 1997

Incluye Bibliografía.

Meta-analysis of the income and price elasticities of gasoline demand: public policy implications for Latin America

By means of a meta-analysis, this article sets out to estimate average values for the income and price elasticities of gasoline demand and to analyse the reasons for the variations in the elasticities reported by the literature. The findings show that there is publication bias, that the volatility of elasticity estimates is not due to sampling errors alone, and that there are systematic factors explaining these differences. The income and price elasticities of gasoline demand differ between the short and long run and by region, and the estimation can appropriately include the vehicle fleet and the prices of substitute goods, the data types and the estimation methods used. The presence of a low price elasticity suggests that a fuel tax will be inadequate to control rising consumption in a context of rapid economic growth.

The use of nonlinear programming as a tool for maximum profit feed formulation of broilers

The purpose of this study was to compare linear and nonlinear programming models for feed formulation, for maximum profit, considering the real variation in the prices of the corn, soybean meal and broilers during the period from January of 2008 to October of 2009, in the São Paulo State, Brazil. For the nonlinear formulation model, it was considered the following scenarios of prices: a) the minimum broiler price and the maximum prices of the corn and soybean meal during the period, b) the mean prices of the broiler, corn and soybean meal in the period and c) the maximum broiler price and the minimum prices of the corn and soybean meal, in the considered period; while for the linear formulation model, it was considered just the prices of the corn and the soybean. It was used the Practical Program for Feed Formulation 2.0 for the diets establishment. A total of 300 Cobb male chicks were randomly assigned to the 4 dietary treatments with 5 replicate pens of 15 chicks each. The birds were fed with a starter diet until 21 d and a grower diet from 22 to 42 d of age, and they had ad libitum access to feed and water, on floor with wood shavings as litter. The broilers were raised in an environmentally-controlled house. Body weight, body weight gain, feed intake, feed conversion ratio and profitability (related to the prices variation of the broilers and ingredients) were obtained at 42 d of age. It was found that the broilers fed with the diet formulated with the linear model presented the lowest feed intake and feed conversion ratio as compared with the broilers fed with diets from nonlinear formulation models. There were no significant differences in body weight and body weight gain among the treatments. Nevertheless, the profitabilities of the diets from the nonlinear model were significantly higher than that one from the linear formulation model, when the corn and soybean meal prices were near or below their average values for the studied period, for any broiler chicken price.

RB34-71 Effects of Inflation and Deflation Upon Nebraska Agriculture, 1914 to 1932

Nebraska farmers prospered during the period which followed the depression of the nineties and preceded the beginning of the World War. To be sure the prosperity was not uniformly distributed either by years or by areas. The corn crop was unusually short in a large portion of the state in 1901 and an almost total failure in many of the southern counties in 1913. Chinch bugs did considerable injury in 1901 and the Hessian fly in 1905 and 1914. There was noticeable damage from insects in some areas in other years. No part of the state, however, suffered from long-continued drouth or repeated ravages of insect pests. The depression of 1907 affected credit and prices very severly for a few months, but recovery was rapid and within less than a year business was again moving forward. This 1934 research bulletin covers the problems of inflation and deflation; changes in the prices of various commodities during inflation and deflation; prices and purchasing power of Nebraska farm products, 1914 to 1932; adjustments during inflation and deflation; the effect of wages on Nebraska agriculture; taxes; Nebraska farm income; changes in types of farming in Nebraska, 1914 to 1932; the banking situation; Nebraska farm land prices; and the effects of inflation and deflation upon Nebraska businesses.

HEDONIC ANALYSIS OF CELL PHONES SOLD WITH POST-PAID SERVICE PLANS IN BRAZIL

The aim of this paper is to analyze the determining factors for the pricing of handsets sold with service plans, using the hedonic price method. This was undertaken by building a database comprising 48 handset models, under nine different service plans, over a period of 53 weeks in 2008, and resulted in 27 different attributes and a total number of nearly 300,000 data registers. The results suggest that the value of monthly subscriptions and calling minutes are important to explain the prices of handsets. Furthermore, both the physical volume and number of megapixels of a camera had an effect on the prices. The bigger the handset, the cheaper it becomes, and the more megapixels a camera phone has, the more expensive it becomes. Additionally, it was found that in 2008 Brazilian phone companies were subsidizing enabled data connection handsets.

An economic evaluation of antihypertensive therapies based on clinical trials

OBJECTIVE: Hypertension is a major issue in public health, and the financial costs associated with hypertension continue to increase. Cost-effectiveness studies focusing on antihypertensive drug combinations, however, have been scarce. The cost-effectiveness ratios of the traditional treatment (hydrochlorothiazide and atenolol) and the current treatment (losartan and amlodipine) were evaluated in patients with grade 1 or 2 hypertension (HT1-2). For patients with grade 3 hypertension (HT3), a third drug was added to the treatment combinations: enalapril was added to the traditional treatment, and hydrochlorothiazide was added to the current treatment. METHODS: Hypertension treatment costs were estimated on the basis of the purchase prices of the antihypertensive medications, and effectiveness was measured as the reduction in systolic blood pressure and diastolic blood pressure (in mm Hg) at the end of a 12-month study period. RESULTS: When the purchase price of the brand-name medication was used to calculate the cost, the traditional treatment presented a lower cost-effectiveness ratio [US$/mm Hg] than the current treatment in the HT1-2 group. In the HT3 group, however, there was no difference in cost-effectiveness ratio between the traditional treatment and the current treatment. The cost-effectiveness ratio differences between the treatment regimens maintained the same pattern when the purchase price of the lower-cost medication was used. CONCLUSIONS: We conclude that the traditional treatment is more cost-effective (US$/mm Hg) than the current treatment in the HT1-2 group. There was no difference in cost-effectiveness between the traditional treatment and the current treatment for the HT3 group.

Hedonic analysis of cell phones sold with post-paid service plans in Brazil

The aim of this paper is to analyze the determining factors for the pricing of handsets sold with service plans, using the hedonic price method. This was undertaken by building a database comprising 48 handset models, under nine different service plans, over a period of 53 weeks in 2008, and resulted in 27 different attributes and a total number of nearly 300,000 data registers. The results suggest that the value of monthly subscriptions and calling minutes are important to explain the prices of handsets. Furthermore, both the physical volume and number of megapixels of a camera had an effect on the prices. The bigger the handset, the cheaper it becomes, and the more megapixels a camera phone has, the more expensive it becomes. Additionally, it was found that in 2008 Brazilian phone companies were subsidizing enabled data connection handsets.

A comparative analysis of outpatient costs in HIV treatment programs

OBJECTIVE: To analyze the costs of human immunodeficiency virus (HIV) outpatient treatment for individuals with different CD4 cell counts in the Brazilian public health system, and to compare to costs in other national health systems. METHODS: A retrospective survey was conducted in five public outpatient clinics of the Brazilian national HIV program in the city of São Paulo. Data on healthcare services provided for a period of one year of HIV outpatient treatment were gathered from randomly selected medical records. Prices of inputs used were obtained through market research and public sector databases. Information on costs of HIV outpatient treatment in other national health systems were gathered from the literature. Annual costs of HIV outpatient treatment from each country were converted into 2010 U.S. dollars. RESULTS: Annual cost of HIV outpatient treatment for the Brazilian national public program was US$ 2,572.92 in 2006 in São Paulo, ranging from US$ 1,726.19 for patients with CD4 cell count > 500 to US$ 3,693.28 for patients with 51 < CD4 cell count < 200. Antiretrovirals (ARVs) represented approximately 62.0% of annual HIV outpatient costs. Comparing among different health systems during the same period, HIV outpatient treatment presented higher costs in countries where HIV treatment is provided by the private sector. CONCLUSION: The main cost drivers of HIV outpatient treatment in different health systems were: ARVs, other medications, health professional services, and diagnostic exams. Nevertheless, the magnitude of cost drivers varied among HIV outpatient treatment programs due to health system efficiency. The data presented may be a valuable tool for public policy evaluation of HIV treatment programs worldwide.

Mimicking the one-dimensional marginal distributions of stochastic diffusions

In the large maturity limit, we compute explicitly the Local Volatility surface for Heston, through Dupire’s formula, with Fourier pricing of the respective derivatives of the call price. Than we verify that the prices of European call options produced by the Heston model, concide with those given by the local volatility model where the Local Volatility is computed as said above.