The distribution of average and marginal effective tax rates in European Union member states

Macro-based summary indicators of effective tax burdens do not capture differences in effective tax rates facing different sub-groups of the population. They also cannot provide information on the level or distribution of the marginal effective tax rates thought to influence household behaviour. I use EUROMOD, an EU-wide tax-benefit microsimulation model, to compute distributions of average and marginal effective tax rates across the household population in fourteen European Union Member States. Using different definitions of ‘net taxes’, the tax base and the unit of analysis I present a range of measures showing the contribution of the tax-benefit system to household incomes, the average effective tax rates applicable to income from labour and marginal effective tax rates faced by working men and women. In a second step, effective tax rates are broken down to separately show the influence of each type of tax-benefit instrument. The results show that measures of effective tax rates vary considerably depending on incomes, labour market situations and family circumstances. Using single averages or macro-based indicators will therefore provide an inappropriate picture of tax burdens faced by large parts of the population.

Valuing emerging markets companies : new approaches to determine the effective exposure to country risk

The aim of this paper is to propose new methods to measure the effective exposure to country risk of emerging-market companies. Starting from Damodaran (2003), we propose seven new approaches and a revised CAPM for emerging markets companies. The “Prospective Lambda” represents the effective exposure according to analysts’ estimates of growth. The “Relative Lambda” relies on the firm value estimated through a relative valuation. The “Retrospective Lambda” represents the ex-post effective exposure to country risk. The “Company Effective Risk Premium” is a generalization of the Retrospective Lambda, and expresses the premium effectively requested by investors to invest in that specific company in the past year. “The Actual Lambda” and the “Company Actual Risk Premium” represent, respectively, the actual exposure to country risk of a company and the actual premium requested by investors to invest in that specific company. The “Industry Lambda” reflects the median exposure to country risk of the industry in which the company belongs. We tested our new measures of exposure to country risk on the Latin American emerging markets companies according to the classification of the MSCI Emerging Markets Latin America Index. The results confirm that the new approaches can be effectively applied by financial analysts to stable-growth companies that operate in emerging markets and to mature markets companies that operate in emerging markets, providing with a more reliable estimate of both the premium effectively requested by investors in the past and the actual premium. Applying the new approaches, the cost of equity reflects the effective exposure of a company to country risk without being over- or underestimated, as is the case with other existing approaches.

Motivating sustainable goal choices and providing effective feedback

Overconsumption of natural resources and the associated environmental hazards are one of today’s most pressing global issues. In the western world, individual consumption in homes and workplaces is a key contributor to this problem. Reflecting the importance of individual action in this domain, this thesis focuses on studying and influencing choices related to sustainability and energy consumption made by people in their daily lives. There are three main components to this work. Firstly, this thesis asserts that people frequently make ineffective consumption reduction goal choices and attempts to understand the rationale for these poor choices by fitting them to goalsetting theory, an established theoretical model of behavior change. Secondly, it presents two approaches that attempt to influence goal choice towards more effective targets, one of which deals with mechanisms for goal priming and the other of which explores the idea that carefully designed toys can exert influence on children’s long term consumption behavior patterns. The final section of this thesis deals with the design of feedback to support the performance of environmentally sound activities. Key contributions surrounding goals include the finding that people choose easy sustainable goals despite immediate feedback as to their ineffectiveness and the discussion and study of goal priming mechanisms that can influence this choice process. Contributions within the design of value instilling toys include a theoretically grounded framework for the design of such toys and a completed and tested prototype toy. Finally, contributions in designing effective and engaging energy consumption feedback include the finding that negative feedback is best presented verbally compared with visually and this is exemplified and presented within a working feedback system. The discussions, concepts, prototypes and empirical findings presented in this work will be useful for both environmental psychologists and for HCI researchers studying eco-feedback.

Characterization and selection of Bacillus thuringiensis isolates effective against Sitophilus oryzae

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

Selection for higher body weight in Nelore cattle is effective in achieving an increase of longissimus muscle area without reducing subcutaneous fat thickness

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

Use of Saponins as an Effective Surface Modifier in Cellulose Nanocomposites

The present paper deals with the extraction of saponins from the pericarp of Sapindus mukorossi to use as compatibilizer in nanocomposites. The nanofibrils extracted from banana fibres are utilized as reinforcement of nanocomposite. These nanofibers were treated with Saponin, GPS (3-Glycidoxypropyltrimethoxysilane) and APS (3-Aminopropyltriethoxysilane) to compare the effectiveness of surface treatment. The effectiveness of surface modification was reflected on the increase in mechanical (tensile test, flexural modulus, impact test) properties and decrease in the RMS (Roughness Measurement System) roughness investigation by SFM (Scanning force microscopy) analysis.

Are light traps baited with kairomones effective in the capture of Lutzomyia longipalpis and Lutzomyia intermedia? An evaluation of synthetic human odor as an attractant for phlebotomine sand flies (Diptera: Psychodidae: Phlebotominae)

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Dynamical Elastic Moduli of the Ti-13Nb-13Zr biomaterial alloy by mechanical spectroscopy

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

Position-dependent effective mass Dirac equations with PT-symmetric and non-PT-symmetric potentials

We present a new procedure to construct the one-dimensional non-Hermitian imaginary potential with a real energy spectrum in the context of the position-dependent effective mass Dirac equation with the vector-coupling scheme in 1 + 1 dimensions. In the first example, we consider a case for which the mass distribution combines linear and inversely linear forms, the Dirac problem with a PT-symmetric potential is mapped into the exactly solvable Schrodinger-like equation problem with the isotonic oscillator by using the local scaling of the wavefunction. In the second example, we take a mass distribution with smooth step shape, the Dirac problem with a non-PT-symmetric imaginary potential is mapped into the exactly solvable Schrodinger-like equation problem with the Rosen-Morse potential. The real relativistic energy levels and corresponding wavefunctions for the bound states are obtained in terms of the supersymmetric quantum mechanics approach and the function analysis method.

Effective action for QED with fermion self-interaction in D=2 and D=3 dimensions

In this work we discuss the effect of the quartic fermion self-interaction of Thirring type in QED in D=2 and D=3 dimensions. This is done through the computation of the effective action up to quadratic terms in the photon field. We analyze the corresponding nonlocal photon propagators nonperturbatively in k/m, where k is the photon momentum and m the fermion mass. The poles of the propagators were determined numerically by using the MATHEMATICA software. In D=2 there is always a massless pole whereas for strong enough Thirring coupling a massive pole may appear. For D=3 there are three regions in parameter space. We may have one or two massive poles or even no pole at all. The interquark static potential is computed analytically in D=2. We notice that the Thirring interaction contributes with a screening term to the confining linear potential of massive two-dimensional QED (QED(2)). In D=3 the static potential must be calculated numerically. The screening nature of the massive QED(3) prevails at any distance, indicating that this is a universal feature of D=3 electromagnetic interaction. Our results become exact for an infinite number of fermion flavors.

Exact closed-form solutions of the Dirac equation for a class of effective Morse potentials

Exact bounded solutions for a fermion subject to exponential scalar potential in 1 + 1 dimensions are found in closed form. We discuss the existence of zero modes which are related to the ultrarelativistic limit of the Dirac equation and are responsible for the induction of a fractional fermion number on the vacuum.

Effective monopoles within thick branes

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Two-branes with variable tension model and the effective Newtonian constant

It is shown that, in the two brane time variation model framework, if the hidden brane tension varies according to the phenomenological Eotvos law, the visible brane tension behavior is such that its time derivative is negative in the past and positive after a specific time of cosmological evolution. This behavior is interpreted in terms of a useful mechanical system analog and its relation with the variation of the Newtonian (effective) gravitational constant is explored.

Understanding the effects of isolation on seed and pollen flow, spatial genetic structure and effective population size of the dioecious tropical tree species Myracrodruon urundeuva

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