Combining probability forecasts

We consider different methods for combining probability forecasts. In empirical exercises, the data generating process of the forecasts and the event being forecast is not known, and therefore the optimal form of combination will also be unknown. We consider the properties of various combination schemes for a number of plausible data generating processes, and indicate which types of combinations are likely to be useful. We also show that whether forecast encompassing is found to hold between two rival sets of forecasts or not may depend on the type of combination adopted. The relative performances of the different combination methods are illustrated, with an application to predicting recession probabilities using leading indicators.

Focus on environmental risks and migration: causes and consequences

Environmental change poses risks to societies, including disrupting social and economic systems such as migration. At the same time, migration is an effective adaptation to environmental and other risks. We review novel science on interactions between migration, environmental risks and climate change. We highlight emergent findings, including how dominant flows of rural to urban migration mean that populations are exposed to new risks within destination areas and the requirement for urban sustainability. We highlight the issue of lack of mobility as a major issue limiting the effectiveness of migration as an adaptation strategy and leading to potentially trapped populations. The paper presents scenarios of future migration that show both displacement and trapped populations over the incoming decades. Papers in the special issue bring new insights from demography, human geography, political science and environmental science to this emerging field.

Contrastive analysis of keywords in discourses: intégration and integration in French and German discourses about migration

This article suggests a theoretical and methodological framework for a systematic contrastive discourse analysis across languages and discourse communities through keywords, constituting a lexical approach to discourse analysis which is considered to be particularly fruitful for comparative analysis. We use a corpus assisted methodology, presuming meaning to be constituted, revealed and constrained by collocation environment. We compare the use of the keyword intégration and Integration in French and German public discourses about migration on the basis of newspaper corpora built from two French and German newspapers from 1998 to 2011. We look at the frequency of these keywords over the given time span, group collocates into thematic categories and discuss indicators of discursive salience by comparing the development of collocation profiles over time in both corpora as well as the occurrence of neologisms and compounds based on intégration/Integration.

Seasonal patterns of viral and bacterial infections among children hospitalized with community-acquired pneumonia in a tropical region

Community-acquired pneumonia (CAP) is a common cause of morbidity among children. Evidence on seasonality, especially on the frequency of viral and bacterial causative agents is scarce; such information may be useful in an era of changing climate conditions worldwide. To analyze the frequency of distinct infections, meteorological indicators and seasons in children hospitalized for CAP in Salvador, Brazil, nasopharyngeal aspirate and blood were collected from 184 patients aged < 5 y over a 21-month period. Fourteen microbes were investigated and 144 (78%) cases had the aetiology established. Significant differences were found in air temperature between spring and summer (p = 0.02) or winter (p < 0.001), summer and fall (p = 0.007) or winter (p < 0.001), fall and winter (p = 0.002), and on precipitation between spring and fall (p = 0.01). Correlations were found between: overall viral infections and relative humidity (p = 0.006; r = 0.6) or precipitation (p = 0.03; r = 0.5), parainfluenza and precipitation (p = 0.02; r = -0.5), respiratory syncytial virus (RSV) and air temperature (p = 0.048; r = -0.4) or precipitation (p = 0.045; r = 0.4), adenovirus and precipitation (p = 0.02; r = 0.5), pneumococcus and air temperature (p = 0.04; r = -0.4), and Chlamydia trachomatis and relative humidity (p = 0.02; r = -0.5). The frequency of parainfluenza infection was highest during spring (32.1%; p = 0.005) and that of RSV infection was highest in the fall (36.4%; p < 0.001). Correlations at regular strength were found between several microbes and meteorological indicators. Parainfluenza and RSV presented marked seasonal patterns.

Do individuals in better condition survive for longer? Field survival estimates according to male alternative reproductive tactics and sex

There is a gap in terms of the supposed survival differences recorded in the field according to individual condition. This is partly due to our inability to assess survival in the wild. Here we applied modern statistical techniques to field-gathered data in two damselfly species whose males practice alternative reproductive tactics (ARTs) and whose indicators of condition in both sexes are known. In Paraphlebia zoe, there are two ART: a larger black-winged (BW) male which defends mating territories and a smaller hyaline-winged (HW) male that usually acts as a satellite. In this species, condition in both morphs is correlated with body size. In Calopteryx haemorrhoidalis, males follow tactics according to their condition with males in better condition practicing a territorial ART. In addition, in this species, condition correlates positively with wing pigmentation in both sexes. Our prediction for both species was that males practicing the territorial tactic will survive less longer than males using a nonterritorial tactic, and larger or more pigmented animals will survive for longer. In P. zoe, BW males survived less than females but did not differ from HW males, and not necessarily larger individuals survived for longer. In fact, size affected survival but only when group identity was analysed, showing a positive relationship in females and a slightly negative relationship in both male morphs. For C. haemorrhoidalis, survival was larger for more pigmented males and females, but size was not a good survival predictor. Our results partially confirm assumptions based on the maintenance of ARTs. Our results also indicate that female pigmentation, correlates with a fitness component - survival - as proposed by recent sexual selection ideas applied to females.

New insights on surface-enhanced Raman scattering based on controlled aggregation and spectroscopic studies, DFT calculations and symmetry analysis for 3,6-bi-2-pyridyl-1,2,4,5-tetrazine adsorbed onto citrate-stabilized gold nanoparticles

Asystematic study on the surface-enhanced Raman scattering (SERS) for 3,6-bi-2-pyridyl-1,2,4,5-tetrazine (bptz) adsorbed onto citrate-modified gold nanoparticles (cit-AuNps) was carried out based on electronic and vibrational spectroscopy and density functional methods. The citrate/bptz exchange was carefully controlled by the stepwise addition of bptz to the cit-AuNps, inducing flocculation and leading to the rise of a characteristic plasmon coupling band in the visible region. Such stepwise procedure led to a uniform decrease of the citrate SERS signals and to the rise of characteristic peaks of bptz, consistent with surface binding via the N heterocyclic atoms. In contrast, single addition of a large amount of bptz promoted complete aggregation of the nanoparticles, leading to a strong enhancement of the SERS signals. In this case, from the distinct Raman profiles involved, the formation of a new SERS environment became apparent, conjugating the influence of the local hot spots and charge-transfer (CT) effects. The most strongly enhanced vibrations belong to a(1) and b(2) representations, and were interpreted in terms of the electromagnetic and the CT mechanisms: the latter involving significant contribution of vibronic coupling in the system. Copyright (C) 2010 John Wiley & Sons, Ltd.

Voices of the Poor: Poverty and Growth in Albania

This paper uses three waves of panel surveys at the household level to study growth and poverty in Albania over the period 2002-2004. It attempts to answer two main questions. The first question is directed at finding the micro determinants of growth and aims to expose the obstacles households face to improve their economic situation. The main focus of the analysis is to investigate the importance of health, education, and infrastructure indicators for income growth. The second question asks whether growth in Albania during the period 2002-2004 has been pro-poor. I find that there is some evidence for a convergence of incomes and a pro-poor growth, which has led to a substantial decrease in the number of people living under the poverty line. I also find that infrastructure has not been an important determinant for income mobility, and neither has health. Only the higher education of poor urban households seems to have affected prospects for growing out of poverty, and unexpectedly, the relationship is negative.

Índices antecedentes e coincidentes da atividade econômica brasileira:uma aplicação da análise de correlação canônica

This paper uses canonical correlation analisys to identify leading and coincident indicators of economic activity in Brazil. ln contrast with the traditional literature on the subject, no restrictions are made regarding the number of common cycles that are necessary to explain the complete cyclical behavior of the coincident variables. For the brazillian data, it is found that three common cycles exhaust all the cyclical pattern of economic activity. Based on the methodology developed here, it is also sugested an alternative chronology of the recent brazillian recessions.

Human capital and innovation: evidence from panel cointegration tests

Panel cointegration techniques applied to pooled data for 27 economies for the period 1960-2000 indicate that: i) government spending in education and innovation indicators are cointegrated; ii) education hierarchy is relevant when explaining innovation; and iii) the relation between education and innovation can be obtained after an accommodation of a level structural break.

Ensaios em econometria aplicada

This thesis has three chapters. Chapter 1 explores literature about exchange rate pass-through, approaching both empirical and theoretical issues. In Chapter 2, we formulate an estate space model for the estimation of the exchange rate pass-through of the Brazilian Real against the US Dollar, using monthly data from August 1999 to August 2008. The state space approach allows us to verify some empirical aspects presented by economic literature, such as coe cients inconstancy. The estimates o ffer evidence that the pass-through had variation over the observed sample. The state space approach is also used to test whether some of the "determinants" of pass-through are related to the exchange rate pass-through variations observed. According to our estimates, the variance of the exchange rate pass-through, monetary policy and trade ow have infuence on the exchange rate pass-through. The third and last chapter proposes the construction of a coincident and leading indicator of economic activity in the United States of America. These indicators are built using a probit state space model to incorporate the deliberations of the NBER Dating Cycles Committee regarding the state of the economy in the construction of the indexes. The estimates o ffer evidence that the NBER Committee weighs the coincident series (employees in nonagricultural payrolls, industrial production, personal income less transferences and sales) di fferently way over time and between recessions. We also had evidence that the number of employees in nonagricultural payrolls is the most important coincident series used by the NBER to de fine the periods of recession in the United States.

Income and bargaining effects on education and health

In this paper, we examine the impacts of the reform in the rural pension system in Brazil in 1991 on schooling and health indicators. In addition, we use the reform to investigate the validity of the unitary model of household allocation by testing if there were uneven impacts on those indicators depending on the gender of the recipient. The main conclusion of the paper is that the reform had significantly positive effects on the outcomes of interest, especially on those co-residing with a male pensioner, indicating that the unitary model is not a well-specified framework to understand family allocation decisions. The highest impacts were on school attendance for boys, literacy for girls and illness for middle-age people. We explore a collective model as defined by Chiappori (1992) as one possible alternative representation for the decision-making process of the poor rural Brazilian families. In the cooperative Nash equilibrium, the reform effects can be divided into two pieces: a direct income effect and bargaining power effect. The data support the existence of these two different effects

Tópicos em Econometria Aplicada

This paper has three original contributions. The first is the reconstruction of employment and income series to allow the creation of a new coincident index for the Brazilian economic activity. The second is the construction of a coincident index of the economic activity for Brazil, and from it, (re) establish a chronology of recessions in the recent past of the Brazilian economy. The coincident index follows the methodology proposed by The Conference Board and it covers the period 1980:1 to 2007:11. The third is the construction and evaluation of many leading indicators of economic activity for Brazil which fills an important gap in the Brazilian Business Cycles literature.

A Dimensão do Sucesso em Coaching - uma análise do contexto brasileiro

Nos últimos anos, a comunidade acadêmica e os profissionais interessados em Coaching mostram-se cada vez mais aplicados em avançar na correta interpretação das abordagens, dos paradigmas e dos caminhos que levam aos resultados esperados pelos clientes. Todos buscam entender como evitar situações indesejáveis e, ainda mais, quais os segredos para transformar aquele processo em uma intervenção bem sucedida. Multiplicam-se os estudos e as pesquisas; reformulam-se os modelos teóricos e empíricos que tentam explicar a essência do relacionamento entre quem orienta o processo (coach) e o seu cliente (coachee). Porém, nestes tempos modernos, a expectativa que mais frequentemente está presente é a de como alcançar o sucesso e avaliar os resultados. Existirá um modelo especial que possa responder a esses exigentes requisitos? Pesquisas divulgadas, no Brasil e exterior, reconhecem que diferenças culturais e sociais podem interferir no processo de Coaching. O que nos leva, já de início, a depender de uma conceituação, ou seja, como definir o “sucesso em Coaching”. São restritos os estudos com ampla amostra para análise e escassos os trabalhos centrados no contexto brasileiro. Poucos estudos têm foco na avaliação de fatores e/ou de indicadores (por vezes, nominados critérios) presentes no “sucesso em Coaching”. A nossa motivação foi a de encaminhar um estudo que é, ao mesmo tempo, empírico e exploratório, com a pretensão de enfrentar e, se possível, superar as limitações citadas. Idealizamos e conduzimos um trabalho que tem resultado validado sob a perspectiva estatística e adequado ao contexto brasileiro. O planejamento cercou-se de cuidados na obtenção de dados, parte deles utilizada para além das fronteiras desta dissertação, contribuindo com o acadêmico e o praticante interessado em Coaching. Ao final desta dissertação, temos a convicção de que teremos uma adequada resposta para a pergunta de pesquisa: no Brasil, como as pessoas que passaram pelo processo de Coaching explicam essa sua experiência e definem o que é alcançar o sucesso?

Monetary policy and the cross-section of stock returns: a FAVAR approach

We use a factor-augmented vector autoregression (FAVAR) to estimate the impact of monetary policy shocks on the cross-section of stock returns. Our FAVAR combines unobserved factors extracted from a large set of nancial and macroeconomic indicators with the Federal Funds rate. We nd that monetary policy shocks have heterogeneous e ects on the crosssection of stock returns. These e ects are very well explained by the degree of external nance dependence, as well as by other sectoral characteristics.

Taxa não inflacionária da capacidade utilizada: uma abordagem usando microdados brasileiros

Esta dissertação baseia-se na criação de uma taxa não inflacionária da capacidade utilizada (NIRCU) para economia brasileira, utilizando microdados da Sondagem da Indústria de Transformação e Índice de Preços ao Produtor Amplo – M (IPA-M), pesquisas desenvolvidas pela FGV/IBRE. Foram criadas três taxas: NIRCU Sondagem, NIRCU Coincidente e NIRCU Antecedente. A primeira utiliza apenas dados da sondagem e a ideia é verificar que não há pressão inflacionária quando as empresas informam para sondagem que não irão variar os seus preços para os próximos três meses e que o número de turnos trabalhado é igual à média do setor. Já as demais, cruzam as informações das empresas que respondem tanto a Sondagem da Indústria de Transformação quanto no IPA-M e verifica se as que informam que não irão alterar os seus preços nos próximos três meses se concretiza quando comparados às variações do índice. A diferença entre as duas últimas abordagens é que a primeira, NIRCU Coincidente, verifica no mesmo período e a outra, NIRCU Antecedente, no trimestre seguinte. A forma encontrada para verificar a eficácia dos indicadores em mensurar a existência de pressão inflacionária foi inserir os diferentes hiatos de produto das NIRCU no modelo de Curva de Phillips, usando a metodologia de Mínimos Quadrados Ordinários (MQO). De acordo com as estimativas, a NIRCU Antecedente foi a única das três que não apresentou um bom desempenho no resultado; as NIRCU Sondagem e Coincidente tiveram uma performance muita boa, principalmente a última. Ou seja, esses dois indicadores tiveram um resultado tão bom quanto as mais tradicionais medidas de hiato de produto.