Does location matter to explain loan interest rates? evidence from Brazilian highly concentrad local markets

O setor bancário brasileiro é altamente concentrado. Embora concentração não signifique necessariamente que o mercado se comporta de forma não competitiva, o grau de competição é freqüentemente questionado no país. Utilizando uma base de dados extensiva e única do mercado de crédito brasileiro, este trabalho procura avaliar muitos dos fatores que contribuem para a variação nas taxas de juros cobradas pelos bancos nos diferentes mercados locais em duas categorias de empréstimos. A concentração não é significante ou mesmo associada a taxas de juros mais baixas, em parte devido ao papel dos bancos públicos. O prêmio de default é positivo e significante, e há alguma evidência de imperfeição de mercado. Neste trabalho, analisamos também o comportamento de precificação dos bancos em diferentes regiões do país, e encontramos que a localização é importante para explicar as taxas de juros dos empréstimos.

Endogenous wage compression and aggregation boundaries in a model of hierarchical human capital

en_US

Essays on the general equilibrium effects of barriers to trade on economic growth, foreign trade and the location of economic activity in Brazil

This work presents a fully operational interstate CGE model implemented for the Brazilian economy that tries to quantify both the role of barriers to trade on economic growth and foreign trade performance and how the distribution of the economic activity may change as the country opens up to foreign trade. Among the distinctive features embedded in the model, modeling of external scale economies, port efficiency and land-maritime transport costs provides an innovative way of dealing explicitly with theoretical issues related to integrated regional systems. In order to illustrate the role played by the quality of infrastructure and geography on the country‟s foreign and interregional trade performance, a set of simulations is presented where barriers to trade are significantly reduced. The relative importance of trade policy, port efficiency and land-maritime transport costs for the country trade relations and regional growth is then detailed and quantified, considering both short run as well as long run scenarios. A final set of simulations shed some light on the effects of liberal trade policies on regional inequality, where the manufacturing sector in the state of São Paulo, taken as the core of industrial activity in the country, is subjected to different levels of external economies of scale. Short-run core-periphery effects are then traced out suggesting the prevalence of agglomeration forces over diversion forces could rather exacerbate regional inequality as import barriers are removed up to a certain level. Further removals can reverse this balance in favor of diversion forces, implying de-concentration of economic activity. In the long run, factor mobility allows a better characterization of the balance between agglomeration and diversion forces among regions. Regional dispersion effects are then clearly traced-out, suggesting horizontal liberal trade policies to benefit both the poorest regions in the country as well as the state of São Paulo. This long run dispersion pattern, on one hand seems to unravel the fragility of simple theoretical results from recent New Economic Geography models, once they get confronted with more complex spatially heterogeneous (real) systems. On the other hand, it seems to capture the literature‟s main insight: the possible role of horizontal liberal trade policies as diversion forces leading to a more homogeneous pattern of interregional economic growth.

Os efeitos da concentração regional no desempenho das empresas: uma abordagem multinível

O presente trabalho tem por objetivo avaliar o impacto das concentrações regionais no desempenho organizacional das empresas brasileiras com ênfase no setor serviços. Com o intuito de atingir este objetivo realizou-se uma comparação entre o desempenho organizacional das firmas localizadas em áreas de concentração geográficas e aquelas situadas fora destas áreas. Além disso, procurou-se contrastar o efeito da concentração regional sobre o desempenho das empresas de serviços com as empresas do setor industrial. A revisão literária evidenciou a existência de vantagens para empresas concentradas regionalmente, o que levou à principal hipótese deste trabalho, de que tais vantagens ocasionariam melhor desempenho das firmas. Desta forma, buscou-se averiguar a existência de uma relação entre o desempenho organizacional e a localização geográfica das empresas de serviços regionalmente concentradas. O trabalho de identificação das concentrações regionais foi realizado adaptando-se os critérios utilizados no setor industrial para o setor serviços, a partir dos dados de número de estabelecimentos e de funcionários, obtidos através da base dados da Relação Anual de Informações Sociais (RAIS). O desempenho organizacional foi mensurado por dois indicadores: lucratividade e o crescimento de vendas. A fonte de dados de desempenho utilizada foi a base de microdados das seguintes pesquisas do Instituto Brasileiro de Geografia e Estatística (IBGE): Pesquisa Industrial Anual (PIA) e Pesquisa Anual de Serviços (PAS). A amostra utilizada incluiu 78.789 observações de prestadoras de serviços e 22.460 observações de empresas do setor industrial, entre 2001 e 2005. Os resultados foram produzidos por meio da aplicação dos modelos hierárquicos ou modelos multiníveis. Os resultados revelaram um efeito positivo sobre o crescimento das empresas situadas em áreas de concentração regional (tanto do setor serviços quanto da indústria), porém não foram encontradas evidências de maior lucratividade das mesmas. As conclusões deste trabalho contribuem para a tomada de decisão dos gestores, ao avaliar se deverão ou não situar seu empreendimento em uma área de concentração regional. Além de apresentar implicações para as políticas públicas, pois a constatação de um efeito positivo sobre o crescimento das firmas em determinadas concentrações pode direcionar políticas de incentivo, com o objetivo de estimular a formação de tais concentrações em determinadas localidades para desenvolvimento regional.

Practice location of physicians: a discrete choice model approach

Economists and policymakers have long been concerned with increasing the supply of health professionals in rural and remote areas. This work seeks to understand which factors influence physicians’ choice of practice location right after completing residency. Differently from previous papers, we analyse the Brazilian missalocation and assess the particularities of developing countries. We use a discrete choice model approach with a multinomial logit specification. Two rich databases are employed containing the location and wage of formally employed physicians as well as details from their post-graduation. Our main findings are that amenities matter, physicians have a strong tendency to remain in the region they completed residency and salaries are significant in the choice of urban, but not rural, communities. We conjecture this is due to attachments built during training and infrastructure concerns.

Human growth, biological maturation, motor performance and contextual factors in Madeira children

The central aims of this study were: (1) to construct age- and gender-specific percentiles for motor coordination (MC), (2) to analyze the change, stability, and prediction of MC, (3) to investigate the relationship between motor performance and body fatness, and (4) to evaluate the relationships between skeletal maturation and fundamental motor skills (FMS) and MC. The data collected was from the ‘Healthy Growth of Madeira Children Study’ and from the ‘Madeira Child Growth Study’. In these studies, MC, FMS, skeletal age, growth characteristics, motor performance, physical activity, socioeconomic status, and geographical area were assessed/measured. Generalized additive models for location, scale and shape, mixed between-within subjects ANOVA, multilevel models, and hierarchical regression (blocks) were some of the statistical procedures used in the analyses. Scores on walking backwards and moving sideways improved with age. It was also found that boys performed better than girls on moving sideways. Normal-weight children outperformed obese peers in almost all gross MC tests. Inter-age correlations were calculated to be between 0.15 and 0.60. Age was associated with a better performance in catching, scramble, speed run, standing long jump, balance, and tennis ball throwing. Body mass index was positively associated with scramble and speed run, and negatively related to the standing long jump. Physical activity was negatively associated with scramble. Semi-urban children displayed better catching skills relative to their urban peers. The standardized residual of skeletal age on chronological age (SAsr) and its interaction with stature and/or body mass accounted for the maximum of 7.0% of variance in FMS and MC over that attributed to body size per se. SAsr alone accounted for a maximum of 9.0% variance in FMS and MC over that attributed to body size per se and interactions between SAsr and body size. This study demonstrates the need to promote FMS, MC, motor performance, and physical activity in children.

Seven stories: location based story-delivery system

Location aware content-based experiences have a substantial tradition in HCI, several projects over the last two decades have explored the association of digital media to specific locations or objects. However, a large portion of the literature has little focus on the creative side of designing of the experience and on the iterative process of user evaluations. In this thesis we present two iterations in the design and evaluation of a location based story delivery system (LBSDS), inspired by local folklore and oral storytelling in Madeira. We started by testing an already existing location based story platform, PlaceWear, with short multimedia clips that recounted local traditions and folktales, to this experience we called iLand. An initial evaluation of iLand, was conducted; we shadowed users during the experience and then they responded to a questionnaire. By analyzing the evaluation results we uncovered several issues that informed the redesign of the system itself as well as part of the story content. The outcome of this re design was the 7Stories experience. In the new experience we performed the integration of visual markers in the interface and the framing of the fragmented story content through the literary technique of the narrator. This was done aiming to improving the connection of the audience to the physical context where the experience is delivered. The 7Stories experience was evaluated following a similar methodology to the iLand evaluation but the user’s experience resulted considerably different; because of the same setting for the experience in both versions and the constancy of the most of the content across the two versions we were able to assess the specific effect of the new design and discuss its strengths and shortcomings. Although we did not run a formal and strict comparative test between the two evaluations, it is evident from the collected data how the specific design changes to our LBSDS influenced the user experience.

Breadcrumbs: location and context aware mobile platform for story sharing

With the current proliferation of sensor equipped mobile devices such as smartphones and tablets, location aware services are expanding beyond the mere efficiency and work related needs of users, evolving in order to incorporate fun, culture and the social life of users. Today people on the move have more and more connectivity and are expected to be able to communicate with their usual and familiar social networks. That means communications not only with their peers and colleagues, friends and family but also with unknown people that might share their interests, curiosities or happen to use the same social network. Through social networks, location aware blogging, cultural mobile applications relevant information is now available at specific geographical locations and open to feedback and conversations among friends as well as strangers. In fact, nowadays smartphone technologies aloud users to post and retrieve content while on the move, often relating to specific physical landmarks or locations, engaging and being engaged in conversations with strangers as much as their own social network. The use of such technologies and applications while on the move can often lead people to serendipitous discoveries and interactions. Throughout our thesis we are engaging on a two folded investigation: how can we foster and support serendipitous discoveries and what are the best interfaces for it? In fact, to read and write content while on the move is a cognitively intensive task. While the map serves the function of orienting the user, it also absorbs most of the user’s concentration. In order to address this kind of cognitive overload issue with Breadcrumbs we propose a 360 degrees interface that enables the user to find content around them by means of scanning the surrounding space with the mobile device. By using a loose metaphor of a periscope, harnessing the power of the smartphone sensors we designed an interactive interface capable of detecting content around the users and display it in the form of 2 dimensional bubbles which diameter depends on their distance from the users. Users will navigate the space in relation to the content that they are curious about, rather than in relation to the traditional geographical map. Through this model we envisage alleviating a certain cognitive overload generated by having to continuously confront a two dimensional map with the real three dimensional space surrounding the user, but also use the content as a navigational filter. Furthermore this alternative mean of navigating space might bring serendipitous discovery about places that user where not aware of or intending to reach. We hence conclude our thesis with the evaluation of the Breadcrumbs application and the comparison of the 360 degrees interface with a traditional 2 dimensional map displayed on the devise screen. Results from the evaluation are compiled in findings and insights for future use in designing and developing context aware mobile applications.

Processing of hierarchical syntactic strusture in music

Hierarchical structure with nested nonlocal dependencies is a key feature of human language and can be identified theoretically in most pieces of tonal music. However, previous studies have argued against the perception of such structures in music. Here, we show processing of nonlocal dependencies in music. We presented chorales by J. S. Bach and modified versions inwhich the hierarchical structure was rendered irregular whereas the local structure was kept intact. Brain electric responses differed between regular and irregular hierarchical structures, in both musicians and nonmusicians. This finding indicates that, when listening to music, humans apply cognitive processes that are capable of dealing with longdistance dependencies resulting from hierarchically organized syntactic structures. Our results reveal that a brain mechanism fundamental for syntactic processing is engaged during the perception of music, indicating that processing of hierarchical structure with nested nonlocal dependencies is not just a key component of human language, but a multidomain capacity of human cognition.

Preferential location of prilocaine and etidocaine in phospholipid bilayers: A molecular dynamics study

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

Preferential location of lidocaine and etidocaine in lecithin bilayers as determined by EPR, fluorescence and H-2 NMR

We have examined the effect of the uncharged species of lidocaine (LDC) and etidocaine (EDC) on the acyl chain moiety of egg phosphatidylcholine liposomes. Changes in membrane organization caused by both anesthetics were detected through the use of EPR spin labels (5, 7 and 12 doxyl stearic acid methyl ester) or fluorescence probes (4, 6, 10, 16 pyrene-fatty acids). The disturbance caused by the LA was greater when the probes were inserted in more external positions of the acyl chain and decreased towards the hydrophobic core of the membrane. The results indicate a preferential insertion of LDC at the polar interface of the bilayer and in the first half of the acyl chain, for EDC. Additionally, 2 H NMR spectra of multilamellar liposomes composed by acyl chain-perdeutero DMPC and EPC (1:4 mol%) allowed the determination of the segmental order (S-mol) and dynamics (T-1) of the acyl chain region. In accordance to the fluorescence and EPR results, changes in molecular orientation and dynamics are more prominent if the LA preferential location is more superficial, as for LDC while EDC seems to organize the acyl chain region between carbons 2-8, which is indicative of its positioning. We propose that the preferential location of LDC and EDC inside the bilayers creates a "transient site", which is related to the anesthetic potency since it could modulate the access of these molecules to their binding site(s) in the voltage-gated sodium channel. (C) 2007 Elsevier B.V. All rights reserved.

Effects of the season of the year, truck type and location on truck on skin bruises and meat quality in pigs

The purpose of this study was to evaluate the effect of the season of the year (summer vs winter), type of truck (A: single decker vs B : double-decker) and pig location on the truck (front, middle, rear) on the incidence of skin bruising and pork quality variation. For this purpose, 2660 gilts of an average weight of 126.7 (+/- 6.6) kg originating from 19 different farms were used. No interaction between season of the year, type of truck and location on truck was observed. A higher number of bruises on the body at unloading and slaughter (P < 0.0001) and a higher number of bruises on the carcass (P < 0.01) were observed in winter. At unloading a higher number of bruises on the body and on the carcass after slaughter was observed in pigs transported on Truck A (P=0.004 and P=0.05). A higher, although not significant, number of bruises was found on the body of pigs transported in the rear compartment of both trucks. Higher paleness value was found in the longissimus and semimembranosus muscles in summer (P=0.0001) than in winter. Cold and heat stress have a negative influence on skin bruises and meat quality, respectively. Poor vehicle design increases the incidence of bruised carcasses without detracting from pork quality regardless of the climate conditions tested and location of the animal it] the truck. (c) 2006 Elsevier B.V. All rights reserved.

Evaluation of an average numerator relationship matrix model and a Bayesian hierarchical model for growth traits in Nellore cattle with uncertain paternity

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

Sistema de supervisão aérea baseado em navegação visual para detecção de anomalias em instalações de petróleo e gás

This work deals with the development of a prototype of a helicopter quadrotor for monitoring applications in oil facilities. Anomaly detection problems can be resolved through monitoringmissions performed by a suitably instrumented quadrotor, i.e. infrared thermosensors should be embedded. The proposed monitoring system aims to reduce accidents as well as to make possible the use of non-destructive techniques for detection and location of leaks caused by corrosion. To this end, the implementation of a prototype, its stabilization and a navigation strategy have been proposed. The control strategy is based on dividing the problem into two control hierarchical levels: the lower level stabilizes the angles and the altitude of the vehicle at the desired values, while the higher one provide appropriate references signals to the lower level in order the quadrotor performs the desired movements. The navigation strategy for helicopter quadrotor is made using information provided by a acquisition image system (monocular camera) embedded onto the helicopter. Considering that the low-level control has been solved, the proposed vision-based navigation technique treats the problem as high level control strategies, such as, relative position control, trajectory generation and trajectory tracking. For the position control we use a control technique for visual servoing based on image features. The trajectory generation is done in a offline step, which is a visual trajectory composed of a sequence of images. For the trajectory tracking problem is proposed a control strategy by continuous servovision, thus enabling a navigation strategy without metric maps. Simulation and experimental results are presented to validate the proposal