From Cash to Electronic Payments: Microeconomic, Macroeconomic, and Policy Aspects of Retail Payment Systems

This dissertation explores three aspects of the economics and policy issues surrounding retail payments (low-value frequent payments): the microeconomic aspect, by measuring costs associated with retail payment instruments; the macroeconomic aspect, by quantifying the impact of the use of electronic rather than paper-based payment instruments on consumption and GDP; and the policy aspect, by identifying barriers that keep countries stuck with outdated payment systems, and recommending policy interventions to move forward with payments modernization. Payment system modernization has become a prominent part of the financial sector reform agenda in many advanced and developing countries. Greater use of electronic payments rather than cash and other paper-based instruments would have important economic and social benefits, including lower costs and thereby increased economic efficiency and higher incomes, while broadening access to the financial system, notably for people with moderate and low incomes. The dissertation starts with a general introduction on retail payments. Chapter 1 develops a theoretical model for measuring payments costs, and applies the model to Guyana—an emerging market in the midst of the transition from paper to electronic payments. Using primary survey data from Guyanese consumers, the results of the analysis indicate that annual costs related to the use of cash by consumers reach 2.5 percent of the country’s GDP. Switching to electronic payment instruments would provide savings amounting to 1 percent of GDP per year. Chapter 2 broadens the analysis to calculate the macroeconomic impacts of a move to electronic payments. Using a unique panel dataset of 76 countries across the 17-year span from 1998 to 2014 and a pooled OLS country fixed effects model, Chapter 2 finds that on average, use of debit and credit cards contribute USD 16.2 billion to annual global consumption, and USD 160 billion to overall annual global GDP. Chapter 3 provides an in-depth assessment of the Albanian payment cards and remittances market and recommends a set of incentives and regulations (both carrots and sticks) that would allow the country to modernize its payment system. Finally, the conclusion summarizes the lessons of the dissertation’s research and brings forward issues to be explored by future research in the retail payments area.

Analysis of factors influencing the physical, chemical and sensorial properties of Serra da Estrela cheeses

The objective of this study was to evaluate the chemical, color, textural, and sensorial characteristics of Serra da Estrela cheese and also to identity the factors affecting these properties, namely thistle ecotype, place of production, dairy and maturation. The results demon- strated that the cheeses lost weight mostly during the first stage of maturation, which was negatively correlated with moisture content, being this also observed for fat and protein contents. During maturation the cheeses became darker and with a yellowish coloration. A strong corre- lation was found between ash and chlorides contents, being the last directly related to the added salt in the manufacturing process. The flesh firmness showed a strong positive correlation with the rind harness and the firmness of inner paste. Stickiness was strongly related with all the other textural properties being indicative of the creamy nature of the paste. Adhesiveness was posi- tively correlated with moisture content and negatively correlated with maturation time. The trained panelists liked the cheeses, giving high overall assessment scores, but these were not significantly correlated with the physicochemical properties. The salt differences between cheeses were not evident for the panelists, which was corroborated by the absence of correlation between the perception of saltiness and the analyzed chlorides con- tents. The Factorial Analysis of the chemical and physical properties evidenced that they could be explained by two factors, one associated to the texture and the color and the other associated with the chemical properties. Finally, there was a clear influence of the thistle ecotype, place of production and dairy factors in the analyzed properties.

Cognitive and structural aspects of addiction: Relation between iris patterns, time perception, eyeblink rate, impulsivity and cigarette addiction

Objectif : Le but de ce travail est d'étudier les corrélations existantes entre les patterns de l'iris, la perception du temps et la fréquence de clignement des paupières (eye blink rate) et ceci en relation avec l'addiction à la cigarette. Méthodologie: Revue de la littérature existante. Expériences sur une cohorte d'au moins trente sujets fumeurs/non-fumeurs. Analyses statistiques. Résultats: Nos résultats confirment qu'il existe des relations entre l'impulsivité, les patterns d'iris, l'eye blink rate spontané et la perception du temps. Nous observons également que l'addiction à la cigarette et son niveau de dépendance ont une influence sur ces différentes mesures. En effet, les sujets fumeurs tendent à avoir une personnalité plus impulsive par rapport aux sujets contrôles. On remarque également une nette diminution de l'eye blink rate dans le groupe des fumeurs et une tendance à la sur-estimation du temps qui passe. Conclusion : Ce travail nous permet de mieux comprendre les différentes corrélations qui existent entre les différentes variables que nous avons mesurées (patterns d'iris, score d'impulsivité et eye blink rate) ainsi que leur relation à l'addiction à la cigarette. Dès lors qu'il est avéré que les fumeurs peuvent avoir une perception du temps altérée par rapport au groupe contrôle, il serait intéressant d'en étudier l'évolution sur le long terme (aggravation avec la durée du tabagisme actif) ainsi que les conséquences qui en découlent écologiquement au moyen d'études longitudinales et de terrain.

Evaluation of thermo-physical properties and drying kinetics of carrots in a convective hot air drying system

This paper presents an experimental study on the evolution of carrot properties along convective drying by hot air at different temperatures (50ºC, 60ºC and 70ºC). The thermo-physical properties calculated were: specific heat, thermal conductivity, diffusivity, enthalpy, heat and mass transfer coefficients. Furthermore, the data of drying kinetics were treated and adjusted according to the three empirical models: Page, Henderson & Pabis and Logarithmic. The sorption isotherms were also determined and fitted using the GAB model. The results showed that, generally, the thermo-physical properties presented a decline during the drying process, and the decrease was faster for the temperature of 70ºC. It was possible to verify that the Page model presented the best prediction ability for the representation of kinetics of the drying process. The GAB model used to fit the sorption isotherms showed a good prediction capacity and, at a given water activity, despite some variations, the amount of water sorbed increased with the decrease of drying temperature.

Men's experiences of receiving objective feedback on physical activity and other indicators of health risk, within the context of a gender-sensitised weight loss intervention

Receiving personalised feedback on body mass index and other health risk indicators may prompt behaviour change. Few studies have investigated men’s reactions to receiving objective feedback on such measures and detailed information on physical activity and sedentary time. The aim of my research was to understand the meanings different forms of objective feedback have for overweight/obese men, and to explore whether these varied between groups. Participants took part in Football Fans in Training, a gender-sensitised, weight loss programme delivered via Scottish Professional Football Clubs. Semi-structured interviews were conducted with 28 men, purposively sampled from four clubs to investigate the experiences of men who achieved and did not achieve their 5% weight loss target. Data were analysed using the principles of thematic analysis and interpreted through Self-Determination Theory and sociological understandings of masculinity. Several factors were vital in supporting a ‘motivational climate’ in which men could feel ‘at ease’ and adopt self-regulation strategies: the ‘place’ was described as motivating, whereas the ‘people’ (other men ‘like them’; fieldwork staff; community coaches) provided supportive and facilitative roles. Men who achieved greater weight loss were more likely to describe being motivated as a consequence of receiving information on their objective health risk indicators. They continued using self-monitoring technologies after the programme as it was enjoyable; or they had redefined themselves by integrating new-found activities into their lives and no longer relied on external technologies/feedback. They were more likely to see post-programme feedback as confirmation of success, so long as they could fully interpret the information. Men who did not achieve their 5% weight loss reported no longer being motivated to continue their activity levels or self-monitor them with a pedometer. Social support within the programme appeared more important. These men were also less positive about objective post-programme feedback which confirmed their lack of success and had less utility as a motivational tool. Providing different forms of objective feedback to men within an environment that has intrinsic value (e.g. football club setting) and congruent with common cultural constructions of masculinity, appears more conducive to health behaviour change.

THE IMPACT OF UPPER-LEVEL PROCESSES ON THE INTENSITY AND STRUCTURAL CHANGES OF HURRICANE SANDY (2012)

The first part of this study examines the relative roles of frontogenesis and tropopause undulation in determining the intensity and structural changes of Hurricane Sandy (2012) using a high-resolution cloud-resolving model. A 138-h simulation reproduces Sandy’s four distinct development stages: (i) rapid intensification, (ii) weakening, (iii) steady maximum surface wind but with large continued sea-level pressure (SLP) falls, and (iv) re-intensification. Results show typical correlations between intensity changes, sea-surface temperature and vertical wind shear during the first two stages. The large SLP falls during the last two stages are mostly caused by Sandy’s moving northward into lower-tropopause regions associated with an eastward-propagating midlatitude trough, where the associated lower-stratospheric warm air wraps into the storm and its surrounding areas. The steady maximum surface wind occurs because of the widespread SLP falls with weak pressure gradients lacking significant inward advection of absolute angular momentum (AAM). Meanwhile, there is a continuous frontogenesis in the outer region during the last three stages. Cyclonic inward advection of AAM along each frontal rainband accounts for the continued expansion of the tropical-storm-force wind and structural changes, while deep convection in the eyewall and merging of the final two survived frontal rainbands generate a spiraling jet in Sandy’s northwestern quadrant, leading to its re-intensification prior to landfall. The physical, kinematic and dynamic aspects of an upper-level outflow layer and its possible impact on the re-intensification of Sandy are examined in the second part of this study. Above the outflow layer isentropes are tilted downward with radius as a result of the development of deep convection and an approaching upper-level trough, causing weak subsidence. Its maximum outward radial velocity is located above the cloud top, so the outflow channel experiences cloud-induced long-wave cooling. Because Sandy has two distinct convective regions (an eyewall and a frontal rainband), it has multiple outflow layers, with the eyewall’s outflow layer located above that of the frontal rainband. During the re-intensification stage, the eyewall’s outflow layer interacts with a jet stream ahead of the upper-level trough axis. Because of the presence of inertial instability on the anticyclonic side of the jet stream and symmetric instability in the inner region of the outflow layer, Sandy’s secondary circulation intensifies. Its re-intensification ceases when these instabilities disappear. The relationship between the intensity of the secondary circulation and dynamic instabilities of the outflow layer suggests that the re-intensification occurs in response to these instabilities. Additionally, it is verified that the long-wave cooling in the outflow layer helps induce symmetric instability by reducing static stability.

Commentary on: Are we overpathologizing everyday life? A tenable blueprint for behavioral addiction research: On functional and compulsive aspects of reinforcement pathologies

Background: This paper is a commentary to a debate article entitled: "Are we overpathologizing everyday life? A tenable blueprint for behavioral addiction research", by Billieux et al. (2015). Methods and aim: This brief response focused on the necessity to better characterize psychological and related neurocognitive determinants of persistent deleterious actions associated or not with substance utilization. Results: A majority of addicted people could be driven by psychological functional reasons to keep using drugs, gambling or buying despite the growing number of related negative consequences. In addition, a non-negligible proportion of them would need assistance to restore profound disturbances in basic learning processes involved in compulsive actions. Conclusions: The distinction between psychological functionality and compulsive aspects of addictive behaviors should represent a big step towards more efficient treatments.

Financial Characteristics of Family Businesses and Financial Aspects of Succession

Family businesses are special in many respects. By examining their financial characteristics one can come to unique conclusions/results. This paper explores the general characteristics of the financial behaviour of family businesses, presents the main findings of the INSIST project’s company case studies concerning financing issues and strategies, and intends to identify the financial characteristics of company succession. The whole existence of family businesses is characterized by a duality of the family and business dimensions and this remains the case in their financial affairs. The financial decisions in family businesses (especially SMEs) are affected by aspects involving a duality of goals rather than exclusively profitability, the simultaneous presence of family and business financial needs, and the preferential handling of family needs at the expense of business needs (although it has to be said that there is evidence of family investments being postponed for the sake of business, too. Family businesses, beyond their actual effectiveness, are guided by individual goals like securing living standards, ensuring workplaces for family members, stability of operation, preservation of the company’s good reputation, and keeping the company’s size at a level that the immediate family can control and manage. The INSIST project’s company case studies revealed some interesting traits of family business finances like the importance of financial support from the founder’s family during the establishment of the company, the use of bootstrapping techniques, the financial characteristics of succession, and the role of family members in financial management.

Effect of drying on the physical, chemical and sensorial properties of kiwi

Kiwi fruit is a highly nutritional fruit due to the high level of vitamin C and its strong antioxidant capacity due to a wide number of phytonutrients including carotenoids, lutein, phenolics, flavonoids and chlorophyll [1]. Drying consists of a complex process in which simultaneous heat and mass transfer occur. Several alterations occur during the drying of foods at many levels (physical, chemical, nutritional or sensorial) which are influenced by a number of factors, including processing conditions [2]. Temperature is particularly important because of the effects it produces at the chemical and also at the physical level, particularly colour and texture [3]. In the present work were evaluated the changes in sliced kiwi when exposed to air drying at different temperatures (50, 60, 70, 80 ºC), namely in terms of some chemical properties like ascorbic acid or phenolic compounds, physical characteristics like colour and texture and also at the sensorial level. All experiments followed standard established procedures and several replicates were done to assess each property. The results obtained indicated that moisture was reduced with drying by 74 to 87%, depending on the temperature. Also ascorbic acid decreased with drying, being 7% for 50 ºC and increasing up to 28% for the highest temperature (80 ºC). The phenolic compounds and antioxidant activity were also very much affected by the drying temperature. The water activity of the dried samples varied from 0.658 to 0.753, being compatible with a good preservation. Regarding colour, the total colour difference between the dried samples and the fresh sample was found to vary in the range 9.45 – 17.17. The textural parameters were also much affected by drying, namely hardness which decreased by 45 to 72 %, and all other parameters increased: cohesiveness (approximately doubled), springiness (increased 2 to 3 times) and chewiness which increased up to 2.5 times that off the fresh sample. Adhesiveness, which was observed for the fresh samples (-4.02 N.s) disappeared in all the dried samples. The sensorial analysis made to the dried samples allowed establishing the sensorial profiles as shown in Figure 1.

Evaluation of the productive and vegetative aspects of the cultivar 'Imperial Gala' apple tree with EM-9 interstem in different lengths.

The obtaining of a compact plant, with less vigor and high productivity, equivalent to a conventional plant, constitutes a strong tendency in the current horticulture, aiming at a raising of the fruit production at the same planted area. One of the techniques that have had success nowadays is the interstem use. This study was developed in a commercial orchard of Randon Agro Silvo Pastoril S.A. (RASIP), located in the Rio Grande do Sul state, Brazil. The purpose of this work was to evaluate the vegetative and productive development of apple trees of 'Imperial Gala' with different lengths of EM-9 interstem. The treatments consisted of five interstem lengths: 10, 15, 20, 25, 30 cm. In the seventh year of implantation the following parameters were evaluated: the height of the plant, the diameter of the 'Imperial Gala' 5 cm above the second graft point, the volume of the tree-head (height, width and length), the number of bud per branch, and the number of fruits per lineal centimeter of branch. Through this study it could be concluded that the greater interstem (30 cm) presented better indices with relation of vigor control. However, the number of fruits per lineal centimeter of branch with the interstem of 10 cm offered only significant superiority, when compared with the interstem of 30 cm. Using interstem technique allows to gather the benefits of the rootstock 'Marubakaido' and to control excessive vigour with the interstem EM-9.

Neurophysiological, molecular and pathophysiological aspects of synthetic torpor

Synthetic torpor is a peculiar physiological condition resembling natural torpor, in which even non-hibernating species can be induced through different pharmacological approaches. The growing interest in the induction of a safe synthetic torpor state in non-hibernating species stems from the possible applications that it may have in a translational perspective. In particular, the deeper understanding of the functional changes occurring during and after synthetic torpor may lead to the standardization of a safe procedure to be used also in humans and to the implementation of new therapeutic strategies. Some of the most interesting and peculiar characteristics of torpor that should be assessed in synthetic torpor and may have a translational relevance are: the reversible hyperphosphorylation of neuronal Tau protein, the strong and extended neural plasticity, which may be related to Tau regulatory processes, and the development of radioresistance. In this respect, in the present thesis, rats were induced into synthetic torpor by the pharmacological inhibition of the raphe pallidus, a key brainstem thermoregulatory area, in order to assess: i) whether a reversible hyperphosphorylation of Tau protein occurs at the spinal cord level, also testing the possible involvement of microglia activation in this phenomenon; ii) sleep quality after synthetic torpor and its possible involvement in the process of Tau dephosphorylation; iii) whether synthetic torpor has radioprotective properties, by assessing histopathological and molecular features in animals exposed to X-rays irradiation. The results showed that: i) a reversible hyper-phosphorylation of Tau protein also occurs in synthetic torpor in the dorsal horns of the spinal cord; ii) sleep regulation after synthetic torpor seems to be physiological, and sleep deprivation speeds up Tau dephosphorylation; iii) synthetic torpor induces a consistent increase in radioresistance, as shown by analyses at both histological and molecular level.

Physical modeling and numerical simulations of degradation mechanisms in devices and insulators for power applications

In this thesis, a TCAD approach for the investigation of charge transport in amorphous silicon dioxide is presented for the first time. The proposed approach is used to investigate high-voltage silicon oxide thick TEOS capacitors embedded in the back-end inter-level dielectric layers for galvanic insulation applications. In the first part of this thesis, a detailed review of the main physical and chemical properties of silicon dioxide and the main physical models for the description of charge transport in insulators are presented. In the second part, the characterization of high-voltage MIM structures at different high-field stress conditions up to the breakdown is presented. The main physical mechanisms responsible of the observed results are then discussed in details. The third part is dedicated to the implementation of a TCAD approach capable of describing charge transport in silicon dioxide layers in order to gain insight into the microscopic physical mechanisms responsible of the leakage current in MIM structures. In particular, I investigated and modeled the role of charge injection at contacts and charge build-up due to trapping and de-trapping mechanisms in the oxide layer to the purpose of understanding its behavior under DC and AC stress conditions. In addition, oxide breakdown due to impact-ionization of carriers has been taken into account in order to have a complete representation of the oxide behavior at very high fields. Numerical simulations have been compared against experiments to quantitatively validate the proposed approach. In the last part of the thesis, the proposed approach has been applied to simulate the breakdown in realistic structures under different stress conditions. The TCAD tool has been used to carry out a detailed analysis of the most relevant physical quantities, in order to gain a detailed understanding on the main mechanisms responsible for breakdown and guide design optimization.

Transverse momentum and centrality dependence of dihadron correlations in Au plus Au collisions at root s(NN)=200 GeV: Jet quenching and the response of partonic matter

Azimuthal angle (Delta phi) correlations are presented for charged hadrons from dijets for 0.4 < p(T)< 10 GeV/c in Au+Au collisions at root s(NN)=200 GeV. With increasing p(T), the away-side distribution evolves from a broad and relatively flat shape to a concave shape, then to a convex shape. Comparisons to p+p data suggest that the away-side can be divided into a partially suppressed ""head"" region centered at Delta phi similar to pi and an enhanced ""shoulder"" region centered at Delta phi similar to pi +/- 1.1. The p(T) spectrum for the head region softens toward central collisions, consistent with the onset of jet quenching. The spectral slope for the shoulder region is independent of centrality and trigger p(T), which offers constraints on energy transport mechanisms and suggests that it contains the medium response to energetic jets.

Binding energy and momentum distribution of nuclear matter using Green's functions methods

The influence of hole-hole (h-h) propagation in addition to the conventional particle-particle (p-p) propagation, on the energy per particle and the momentum distribution is investigated for the v2 central interaction which is derived from Reid¿s soft-core potential. The results are compared to Brueckner-Hartree-Fock calculations with a continuous choice for the single-particle (SP) spectrum. Calculation of the energy from a self-consistently determined SP spectrum leads to a lower saturation density. This result is not corroborated by calculating the energy from the hole spectral function, which is, however, not self-consistent. A generalization of previous calculations of the momentum distribution, based on a Goldstone diagram expansion, is introduced that allows the inclusion of h-h contributions to all orders. From this result an alternative calculation of the kinetic energy is obtained. In addition, a direct calculation of the potential energy is presented which is obtained from a solution of the ladder equation containing p-p and h-h propagation to all orders. These results can be considered as the contributions of selected Goldstone diagrams (including p-p and h-h terms on the same footing) to the kinetic and potential energy in which the SP energy is given by the quasiparticle energy. The results for the summation of Goldstone diagrams leads to a different momentum distribution than the one obtained from integrating the hole spectral function which in general gives less depletion of the Fermi sea. Various arguments, based partly on the results that are obtained, are put forward that a self-consistent determination of the spectral functions including the p-p and h-h ladder contributions (using a realistic interaction) will shed light on the question of nuclear saturation at a nonrelativistic level that is consistent with the observed depletion of SP orbitals in finite nuclei.