970 resultados para inflation cible
Resumo:
Ce travail n'a pas pour but d'établir une histoire du choeur tragique pour ainsi dire 'd'anthologie', mais bien plutôt de tracer un parcours sélectif et dynamique, en suivant l'évolution de ses formes et de ses fonctions dans la tragédie italienne, à partir du début du XVIe siècle jusqu' à la production alfiérienne et au retour du choeur dans le théâtre de Manzoni ; à cela s'ajoute un exercice en dehors du genre dramatique tel que le Dialogo di Federico Ruysch e delle sue mummie dans les Operette morali di Giacomo Leopardi. Dans la première partie - la plus ample et complexe, portant sur l'emploi du choeur dans la tragédie de la Renaissance - on essaye de cerner le contexte qui favorise la persistance d'un espace choral en examinant plusieurs commentaires de la Poétique aristotélicienne, et des essais de théorie dramaturgique comme Della poesia rappresentativa de Angelo Ingegneri, ou le Discorso intorno al comporre de Giambattista Giraldi Cinzio. À côté de la discussion sur le rôle du choeur on envisage aussi le profil formel des sections chorales, en s'appuyant sur l'analyse métrique, dans le cadre plus général du 'petrarchismo metrico', et en particulier de la réception de la chanson pétrarquesque. Interroger la présence de trois constantes thématiques - par exemple la forme de l'hymne à Éros - signifie en suite relever l'importance de Sophocle pour le théâtre de la Renaissance dans la perspective du choeur. Cette première section est complétée par un chapitre entièrement consacré à Torquato Tasso et à son Re Torrismondo, qui présente un troisième chant choral de grande épaisseur philosophique, central dans l'économie du drame et analysé ici à travers un exercice de lecture qui utilise à la fois les instruments de la stylistique, de l'intertextualité, et de l'intratextualité concernant l'entier corpus poétique et philosophique tassien, de ses Rime aux Dialoghi. La deuxième section, qui commence par une exploration théorique de la question du choeur, conduite par exemple sur les textes de Paolo Beni e Tommaso Campanella, a pour cible principale de expliquer comment le choeur assume le rôle d'un vrai 'personnage collectif' dans le théâtre de Federico Della Valle : un choeur bien installé dans l'action tragique, mais conservant au même temps les qualités lyriques et philosophiques d'un chant riche de mémoire culturelle et intertextuelle, de la Phaedra de Sénèque à la Commedia dantesque dans la Reina di Scozia, centre principal de l'analyse et coeur du catholicisme contreréformiste dellavallien. Dans la troisième partie le discours se concentre sur les formes de la métamorphose, pour ainsi dire, du choeur : par exemple la figure du confident, conçu comme un substitut du groupe choral dans les discussions des théoriciens et des auteurs français - voir Corneille, D'Aubignac, Dacier - et italiens, de Riccoboni à Calepio et Maffei. Cependant dans cette section il est surtout question de la définition de l'aria mélodramatique compris comme le 'nouveau choeur' des Modernes, formulée par Ranieri Calzabigi et par Metastasio. Il s'agit donc ici de mettre en relation l'élaboration théorique contenue dans la Dissertazione de Calzabigi et dans l'Estratto de l'Arte poetica de Metastasio avec le premier et unique essai tragique de jeunesse de ce dernier, le Giustino, et le livret de son Artaserse. On essaye de montrer le profond lien entre l'aria et l'action dramatique : donc c'est le dramma musicale qui est capable d'accueillir la seule forme de choeur - l'aria - encore possible dans le théâtre moderne, tandis que le choeur proprement tragique est désormais considéré inutilisable et pour ainsi dire hors-contexte (sans toutefois oublier qu'à la fin du siècle Vittorio Alfieri essayait de ne pas renoncer au choeur dans sa traduction des Perses d'Eschyle ; et surtout dans un essai tragique comme l'Alceste seconda ou dans sa tramelogedia, l'Abele). Comme conclusion une section contenant des remarques qui voudrait juste indiquer trois possibles directions de recherche ultérieure : une comparaison entre Manzoni et Leopardi - dans la perspective de leur intérêt pour le choeur et de la différence entre le sujet lyrique manzonien et celui léopardien ; une incursion dans le livret du mélodrame verdien, afin de comprendre la fonction du choeur manzonien et sa persistance dans le texte pour l'opéra ; et enfin quelque note sur la réception du choeur manzonien et du Coro di morti léopardien dans le XXe siècle, en assumant comme point d'observation la poésie de Carlo Michelstaedter, Andrea Zanzotto et Franco Fortini. Il lavoro non intende tracciare una storia 'da manuale' del coro tragico, ma piuttosto indicare un percorso selettivo e dinamico, seguendo l'evoluzione delle sue forme e delle sue funzioni nella tragedia italiana, a partire dall'inizio del sedicesimo secolo per arrivare alla produzione alfieriana e al ritorno del coro nel teatro di Manzoni; a ciò si aggiunge una prova estranea al genere drammatico come il Dialogo di Federico Ruysch e delle sue mummie nelle Operette morali di Giacomo Leopardi. Nella prima parte - la più ampia e complessa, riguardante l'impiego del coro nella tragedia rinascimentale - si cerca di ricostruire il contesto che favorisce la persistenza dello spazio corale attraverso l'esame di diversi commenti alla Poetica aristotelica, e di alcuni saggi di teoria drammaturgica come Della poesia rappresentativa di Angelo Ingegneri, o il Discorso intorno al comporre di Giambattista Giraldi Cinzio. La discussione sul ruolo del coro è affiancata dall'esame del profilo formale delle sezioni corali, grazie a un'indagine metrica nel quadro del più ampio petrarchismo metrico cinquecentesco, e in particolare nel quadro della ricezione della formacanzone petrarchesca. Interrogare la presenza di tre costanti tematiche - per esempio la forma dell'inno a Eros - significherà in seguito rilevare l'importanza di Sofocle per il teatro rinascimentale anche nella prospettiva angolata del coro. Questa prima sezione è completata da un capitolo interamente dedicato a Torquato Tasso e al suo Re Torrismondo, che presenta un terzo canto corale di grande spessore stilistico e filosofico, centrale nell'economia del dramma e analizzato qui attraverso un esercizio di lettura che si serve degli strumenti della stilistica e dell'intertestualità, oltre che del rapporto intratestuale fra i vari luoghi del corpus tassiano, dalle Rime ai suoi Dialoghi. La seconda sezione, che si avvia con un'esplorazione teorica della questione del coro nel Seicento - condotta per esempio sui testi di Paolo Beni e Tommaso Campanella - ha per fulcro la descrizione di un coro quale 'personaggio collettivo' nelle tragedie di Federico Della Valle: un coro ben inserito nell'azione tragica, ma che conserva allo stesso tempo le qualità liriche e filosofiche di un canto ricco di memoria culturale e intertestuale, dalla Fedra di Seneca alla Commedia dantesca, nella sua Reina di Scozia, centro dell'analisi e cardine del cattolicesimo controriformista dellavalliano. Nella terza sezione il discorso si concentra sulle forme della metamorfosi, per così dire, del coro: per esempio la figura del confidente, interpretato come un sostituto del gruppo corale nelle discussioni di teorici e autori francesi - Corneille, D'Aubignac, Dacier - e italiani, da Riccoboni a Calepio e Maffei. Ma qui ci si rivolge anzitutto alla definizione dell'aria melodrammatica, sentita quale 'nuovo coro' dei Moderni da Ranieri Calzabigi e Pietro Metastasio. Si tratterà dunque di mettere in relazione l'elaborazione teorica svolta nella Dissertazione di Calzabigi e nell'Estratto dell'arte poetica di Metastasio con il primo e unico - e giovanile - tentativo tragico di quest'ultimo, il Giustino, e con il libretto del suo Artaserse. L'intenzione è quella di mostrare il profondo legame tra l'aria e l'azione drammatica: è perciò il dramma musicale che è capace di accogliere la sola forma di coro - l'aria - ancora possibile nel teatro moderno, mentre il vero e proprio coro tragico si rassegna ormai a essere considerato inutile e per così dire fuori contesto (senza dimenticare, tuttavia, che al chiudersi del secolo Vittorio Alfieri tentava di non rinunciare al coro nella sua traduzione dei Persiani di Eschilo; e soprattutto in un tentativo tragico come la sua Alceste seconda o nella tramelogedia Abele). In conclusione una più veloce sezione che vorrebbe semplicemente indicare qualche altra possibile direzione di ricerca: un confronto fra Manzoni e Leopardi - nella prospettiva del coro interesse per il coro, e della differenza fra il soggetto lirico manzoniano e quello leopardiano; un'incursione nel libretto del melodramma verdiano, per misurarvi la funzione del coro manzoniano e la sua persistenza nel testo operistico; e infine qualche appunto sulla ricezione del coro manzoniano e del Coro di morti di Leopardi nel Novecento, assumendo quale punto d'osservazione la poesia di Carlo Michelstaedter, Andrea Zanzotto e Franco Fortini.
Resumo:
In this paper we argue that inventory models are probably not usefulmodels of household money demand because the majority of households does nothold any interest bearing assets. The relevant decision for most people is notthe fraction of assets to be held in interest bearing form, but whether to holdany of such assets at all. The implications of this realization are interesting and important. We find that(a) the elasticity of money demand is very small when the interest rate is small,(b) the probability that a household holds any amount of interest bearing assetsis positively related to the level of financial assets, and (c) the cost ofadopting financial technologies is positively related to age and negatively relatedto the level of education. Unlike the traditional methods of money demand estimation, our methodology allowsfor the estimation of the interest--elasticity at low values of the nominalinterest rate. The finding that the elasticity is very small for interest ratesbelow 5 percent suggests that the welfare costs of inflation are small. At interest rates of 6 percent, the elasticity is close to 0.5. We find thatroughly one half of this elasticity can be attributed to the Baumol--Tobin orintensive margin and half of it can be attributed to the new adopters or extensivemargin. The intensive margin is less important at lower interest rates and moreimportant at higher interest rates.
Resumo:
A actividade turística só faz sentido, e torna-se viável, quando se proporciona uma experiência qualitativa aos principais agentes envolvidos, isto é, quando haja a optimização da experiência turística, a conservação ambiental e cultural e a inclusão social, pela participação activa das comunidades locais. Assim, esta monografia debruça-se sobre a análise de um desses pilares, mais concretamente, a população local, e como tal, objectiva-se analisar a sua percepção sobre os impactos económicos do turismo no desenvolvimento da ilha de São Vicente. Contudo, para dar uma resposta coerente à problemática deste estudo, que é identificar os impactos económicos do turismo percebido pelos residentes, recorreu-se à uma abordagem económica do turismo, tendo em conta as nomenclaturas desenvolvidas no âmbito da Conta Satélite do Turismo. Na avaliação dos impactos, fez-se a aplicação de um inquérito por questionário, dirigido aos residentes das zonas de Norte Baía, Ribeira de Calhau, São Pedro e o Centro da Cidade. Definiu-se uma amostra representativa de 200 indivíduos, analisando a relação entre o turismo e um conjunto de variáveis económicas tais como o emprego, o rendimento, as receitas governamentais, as infra-estruturas, a sazonalidade, os investimentos, e a inflação. Pelos resultados obtidos, concluiu-se que o turismo contribui positivamente para aumentar o emprego, o rendimento, melhorar a qualidade de vida, o aparecimento de novas empresas, o aumento do Produto Interno Bruto e ainda contribui para o desenvolvimento económico da ilha. Contudo, os resultados permitiram concluir que a ilha não depende, do ponto de vista económico, exclusivamente do turismo. Touristic activity only makes sense and becomes profitable when it brings a qualitative experience to the parties involved, i.e. when it results in an improvement of the touristic experience, with an environmental and cultural protection and social inclusion, through the active participation of the local communities, we developed this monograph based on the analysis of the people´s perception about the economic impact of the tourism in the development of São Vicente island. However, in order to have a coherent answer to the issues this document is concerned with, i.e to identify the economic impact of the tourism on people´s live, we went through an economic approach of the tourism, taking in consideration the nomenclature developed in the sphere of Tourism Satellite Account. For the evaluation of the impact we resorted to an enquiry to the residents of Norte Baía, Ribeira de Calhau, São Pedro, and Mindelo. A representative sample of 200 individuals has been defined, to analyze the relationship between the tourism itself and several economic targets, such as: employment, profits, infrastructure, season, investment, inflation. According to the analysis we concluded that the tourism has positively contributed to the uprising of new enterprise, to the increasing of the gross domestic product, to rise up the employment rate, to increase family´s incomes and consequently a better life quality and also to the economic development of São Vicente Island. Nevertheless we also concluded that economically São Vicente does not depend only on the tourism incomes.
Resumo:
In this paper we propose a simple and general model for computing the Ramsey optimal inflation tax, which includes several models from the previous literature as special cases. We show that it cannot be claimed that the Friedman rule is always optimal (or always non--optimal) on theoretical grounds. The Friedman rule is optimal or not, depending on conditions related to the shape of various relevant functions. One contribution of this paper is to relate these conditions to {\it measurable} variables such as the interest rate or the consumption elasticity of money demand. We find that it tends to be optimal to tax money when there are economies of scale in the demand for money (the scale elasticity is smaller than one) and/or when money is required for the payment of consumption or wage taxes. We find that it tends to be optimal to tax money more heavily when the interest elasticity of money demand is small. We present empirical evidence on the parameters that determine the optimal inflation tax. Calibrating the model to a variety of empirical studies yields a optimal nominal interest rate of less than 1\%/year, although that finding is sensitive to the calibration.
Resumo:
RESUME La radiothérapie est utilisée avec succès pour le traitement d'un grand nombre de pathologies tumorales (1). Cependant, les récidives post-actiniques sont associées à un risque accru de développer des métastases régionales et à distance (2, 3). La prise en charge de ce type de patients demeure insatisfaisante à l'heure actuelle, principalement parce que les mécanismes physio-pathologiques sous- sous-jacents restent mal compris. Etant donné le rôle primordial du stroma dans la progression tumorale (4) et l'importance des effets de la radiothérapie sur le micro-environnement des tumeurs (5), nous avons émis l'hypothèse que la radiothérapie pouvait engendrer des modifications stromales susceptibles de contribuer à l'émergence d'un phénotype tumoral plus agressif. Nous avons observé que l'exposition préalable d'un environnement tumoral à des radiations ionisantes engendre une inhibition locale et à long terme de l'angiogenèse. Cette inhibition conduit à la création d'un environnement tumoral hypoxique favorisant l'invasion et la métastatisation tumorale. Les mécanismes sous-jacents impliquent l'activation de gènes prométastatiques sous le contrôle du facteur de transcription HIF-1, ainsi que la sélection hypoxique de cellules hautement invasives et métastatiques. Par des analyses de profile d'expression génétique ainsi que par des analyses fonctionnelles, nous avons identifié la protéine matri-cellulaire CYR61 ainsi que ses partenaires d'interaction, les intégrines aVb5/aVb3, comme médiateurs importants de ces effets. De plus, une corrélation significative a également été trouvée entre le niveau d'expression de CYR61 et le taux d'hypoxie dans un grand nombre de carcinomes mammaires chez l'humain. Une association a aussi été observée entre le niveau d'expression de CYR61 et le pronostic de patientes souffrant d'un cancer du sein traité par chimiothérapie adjuvante. Globalement ces résultats identifient l'interaction entre la protéine CYR61 et ses récepteurs aVb5/aVb3 comme un mécanisme important du processus de métastatisation et en font une cible thérapeutique potentielle pour le traitement de patients souffrant d'une récidive tumorale après un traitement de radiothérapie. Finalement, bien que l'inhibition de l'angiogenèse soit locale dans ce cas particulier, nos résultats justifient une surveillance particulière des patients souffrant d'une pathologie tumorale et étant au bénéfice d'un traitement inhibiteur de l'angiogenèse. SUMMARY Radiotherapy is successfully used to treat a large variety of tumours (1 ). However, cancer patients experiencing local recurrent disease after radiation therapy are at increased risk of developing regional and distant metastasis (2, 3). The clinical management of this condition represents a difficult and challenging issue, mainly because the underlying physio-pathological mechanisms remain poorly understood. Given the well established role of the tumour stroma in promoting cancer progression (4) and since radiotherapy is known to persistently alter the tumour microenvironment (5), we hypothesized that ionising radiations may generate stromal modifications contributing to the metastatic spread of relapsing tumours. Here, we report that irradiation of the prospective tumour microenvironment promotes tumour invasion and metastasis through a mechanism of local and sustained impairment of angiogenesis leading to both HIF-1 dependent activation of pro-metastatic genes and hypoxia-mediated selection of highly metastatic tumour cell variants. Through gene expression profiling and functional experiments, we identified the matricellular signalling protein CYR61 and its interaction partners aVb5/ aVb3 integrins as critical mediators of these effects. Furthermore, we found a significant correlation between CYR61 expression and the hypoxic status of a large number of human mammary carcinomas. A positive correlation between increased levels of CYR61 expression and shorter relapse free survival was also identified in breast cancer patients treated with adjuvant chemotherapy. Together, these results identify CYR61 and aVb5/aVb3 integrins as critical mediators of metastasis and potential therapeutic targets to improve outcome in patients with post-radiation tumour recurrences. Finally, although inhibition of angiogenesis is local in this setting, our data warrant close monitoring of tumour progression in patients under anti-angiogenic therapy.
Resumo:
Most central banks perceive a trade-off between stabilizing inflation and stabilizing the gap between output and desired output. However, the standard new Keynesian framework implies no such trade-off. In that framework, stabilizing inflation is equivalent to stabilizing the welfare-relevant output gap. In this paper, we argue that this property of the new Keynesian framework, which we call the divine coincidence, is due to a special feature of the model: the absence of non trivial real imperfections.We focus on one such real imperfection, namely, real wage rigidities. When the baseline new Keynesian model is extended to allow for real wage rigidities, the divine coincidence disappears, and central banks indeed face a trade-off between stabilizing inflation and stabilizing the welfare-relevant output gap. We show that not only does the extended model have more realistic normative implications, but it also has appealing positive properties. In particular, it provides a natural interpretation for the dynamic inflation-unemployment relation found in the data.
Resumo:
We construct a utility-based model of fluctuations, with nominal rigidities andunemployment, and draw its implications for the unemployment-inflation trade-off and for the conduct of monetary policy.We proceed in two steps. We first leave nominal rigidities aside. We show that,under a standard utility specification, productivity shocks have no effect onunemployment in the constrained efficient allocation. We then focus on theimplications of alternative real wage setting mechanisms for fluctuations in un-employment. We show the role of labor market frictions and real wage rigiditiesin determining the effects of productivity shocks on unemployment.We then introduce nominal rigidities in the form of staggered price setting byfirms. We derive the relation between inflation and unemployment and discusshow it is influenced by the presence of labor market frictions and real wagerigidities. We show the nature of the tradeoff between inflation and unemployment stabilization, and its dependence on labor market characteristics. We draw the implications for optimal monetary policy.
Resumo:
This paper investigates the contribution of monetary policy to the changes in outputgrowth and inflation dynamics in the US. We identify a policy shock and a policy rule ina time-varying coefficients VAR using robust sign restrictions. The transmission of policyshocks has been relatively stable. The variance of the policy shock has decreased over time,but policy shocks account for a small fraction of the level and of the variations in inflationand output growth volatility and persistence. We find little evidence of a significant increasein the long run response of the interest rate to inflation. A more aggressive inflation policyin the 1970s would have produced large output growth costs.
Resumo:
This paper examines sources of cyclical movements in output, inflation and the term structure of interest rates. It employs a novel identification approach which uses the sign of the cross correlation function in response to shocks to catalog orthogonal disturbances. We find that demand shocks are the dominant source output, inflation and term structure fluctuations in six of the G-7 countries. Within the class of demand disturbances, nominal shocks are dominant, but their importance declined after 1982. Furthermore, there are no significant differences in the proportion of term structure variability explained by different structural sources at different horizons.
Resumo:
We lay out a tractable model for fiscal and monetary policy analysis in a currency union, and study its implications for the optimal design of such policies. Monetary policy is conducted by a common central bank, which sets the interest rate for the union as a whole. Fiscal policy is implemented at the countrylevel, through the choice of government spending. The model incorporates country-specific shocks and nominal rigidities. Under our assumptions, the optimal cooperative policy arrangement requires that inflation be stabilized at the union level by the common central bank, while fiscal policy is used by each country for stabilization purposes. By contrast, when the fiscal authorities act in a non-coordinated way, their joint actions lead to a suboptimal outcome, and make the common central bank face a trade-off between inflation and output gap stabilization at the union level.
Resumo:
In monetary unions, monetary policy is typically made by delegates of the member countries. This procedure raises the possibility of strategic delegation - that countries may choose the types of delegates to influence outcomes in their favor. We show that without commitment in monetary policy, strategic delegation arises if and only if three conditions are met: shocks affecting individual countries are not perfectly correlated, risk-sharing across countries is imperfect, and the Phillips Curve is nonlinear. Moreover, inflation rates are inefficiently high. We argue that ways of solving the commitment problem, including the emphasis on price stability in the agreements constituting the European Union are especially valuable when strategic delegation is a problem.
Resumo:
According to the Taylor principle a central bank should adjust the nominal interest rate by more than one-for-one in response to changes in current inflation. Most of the existing literature supports the view that by following this simple recommendation a central bank can avoid being a source of unnecessary fluctuations in economic activity. The present paper shows that this conclusion is not robust with respect to the modelling of capital accumulation. We use our insights to discuss the desirability of alternative interest raterules. Our results suggest a reinterpretation of monetary policy under Volcker and Greenspan: The empirically plausible characterization of monetary policy can explain the stabilization of macroeconomic outcomes observed in the early eighties for the US economy. The Taylor principle in itself cannot.
Resumo:
This paper reviews the literature on reference pricing (RP) in pharmaceutical markets. The RP strategy for cost containment of expenditure on drugs is analyzed as part of the procurement mechanism. We review the existing literature and the state-of-the-art regarding RP by focusing on its economic effects. In particular, we consider: (1) the institutional context and problem-related factors which appear to underline the need to implement an RP strategy; i.e., its nature, characteristics and the sort of health care problems commonly addressed; (2) how RP operates in practice; that is, how third party-payers (the insurers/buyers) have established the RP systems existing on the international scene (i.e., information methods, monitoring procedures and legislative provisions); (3)the range of effects resulting from particular RP strategies (including effects on choice of appropriate pharmaceuticals, insurer savings, total drug expenditures, prices of referenced and non-referenced products and dynamic efficiency; (4) the market failures which an RP policy is supposed to address and the main advantages and drawbacks which emerge from an analysis of its effects. Results suggest that RP systems achieve better their postulated goals (1) if cost inflation in pharmaceuticals is due to high prices rather than to the excess of prescription rates, (2) when the larger is the existing difference in prices among equivalent drugs, and (3) more important is the actual market for generics.
Resumo:
We study the contribution of money to business cycle fluctuations in the US,the UK, Japan, and the Euro area using a small scale structural monetary business cycle model. Constrained likelihood-based estimates of the parameters areprovided and time instabilities analyzed. Real balances are statistically importantfor output and inflation fluctuations. Their contribution changes over time. Models giving money no role provide a distorted representation of the sources of cyclicalfluctuations, of the transmission of shocks and of the events of the last 40 years.
Resumo:
This paper sets up and estimates a structuralmodel of Australia as a small open economyusing Bayesian techniques. Unlike other recentstudies, the paper shows that a small microfoundedmodel can capture the open economydimensions quite well. Specifically, the modelattributes a substantial fraction of the volatilityof domestic output and inflation to foreigndisturbances, close to what is suggested by unrestrictedVAR studies. The paper also investigatesthe effects of various exogenous shockson the Australian economy.