Hygrothermal behaviour of earthen plasters for sustainable housing construction

A ready-mixed and several laboratory formulated mortars were produced and tested in fresh state and after hardening, simulating a masonry plaster for indoor application. All the mortars used a clayish earth from the same region and different compositions of aggregates, eventually including fibres and a phase change material. All the formulated mortars were composed by 1:3 volumetric proportions of earth and aggregate. Tests were developed for consistency, fresh bulk density, thermal conductivity, capillary absorption and drying, water vapour permeability and sorption-desorption. The use of PCM changed drastically the workability of the mortars and increased their capillary absorption. The use of fibres and variations on particle size distribution of the mixtures of sand that were used had no significant influence on tested properties. But particularly the good workability of these mortars and the high capacity of sorption and desorption was highlighted. With this capacity plasters made with these mortars are able to adsorb water vapour from indoor atmosphere when high levels of relative humidity exist and release water vapour when the indoor atmosphere became too dry. This fact makes them able to contribute passively for a healthier indoor environment. The technical, ecological and environmental advantages of the application of plasters with this type of mortars are emphasized, with the aim of contributing for an increased use for new or existent housing.

Earthen plasters: the potential of the clayey soils of barrocal region in Algarve

Due to their high adsorption capacity of water vapor, earthen plasters can act as a moisture buffer, contributing to balance the relative humidity of the indoor environment of buildings. As a consequence of this capacity earthen plasters may also contribute to the perception of thermal comfort, since a high relative humidity increases the thermal conductivity of air and restricts skin evaporation, increasing the discomfort associated with the perception of heat or cold. Simultaneously, earthen plasters may also contribute to the indoor air quality. In one hand, by mitigating health problems of the respiratory system associated with indoor environment with high relative humidity, in which increases the risk of development of microorganisms usually responsible for infections, allergies or asthma. In the other hand, by mitigating the probability of inflammation of the respiratory system airways associated to exceedingly dry indoor environments. Therefore it also becomes expectable that earthen plasters may contribute for reducing the needs for air conditioning and mechanical ventilation in buildings and, thereby, also allowing the reduction of the associated energy consumption. The «Barrocal» region, located in the sedimentary basin of Algarve, South Portugal, presents geomorphological characteristics that promote the occurrence of soils with a clay mineralogy dominated by illite, which is a clay mineral characterized by a high adsorption capacity of water vapor and low expansibility. This fact turns expectable that these soils have a high potential for interior plastering. In order to evaluate this potential four mortars were formulated with an increasing content of clayey soil extracted from a selected clay quarry from «Barrocal» region. The results from the preliminary characterization campaign confirmed the reduced linear shrinkage of these mortars, as well as their high adsorption-desorption capacity, that is positively correlated with the content of clayey soil present in mortar formulation. However, the mechanical tests showed that the mechanical resistance of these mortars should be improved, for instance through the addition of natural fibers for reinforcement, which will be investigated in future research. This research contributed to increase certainty regarding the potential of clayey soils of the «Barrocal» sub-region of Algarve to produce mortars suitable for eco-efficient interior plastering.

Long-run performance of sovereign rating changes

This paper examines the impact of Sovereign rating changes on the aggregate stock and bond market returns both in emerging and developed countries. Rating downgrades in emerging markets are associated with significant negative wealth effects both in the stock and bond markets. Moreover, the effects of rating downgrades persist up to six-months after the event. In contrast, upgrades in emerging markets convey no information. Rating changes in developed markets have no significant impact on either stock and bond market returns. Rating agencies act pro-cyclically, downgrading countries in bad times and, consequently, contributing to the instability in emerging markets.

NHL 3.5 mortars with scrap tire rubber

The use of wastes and industrial by-products as building materials is an important issue in order to decrease costs with waste management and the embodied energy of building products. Scrap tire rubber has been studied as aggregate for cementitious materials. Natural hydraulic limes are natural binders with particular characteristics of both air and hydraulic binders. Their specifications became stricter with the last version of EN 459-1:2010. In this study scrap tire rubber was used as additional aggregate of mortars, based on NHL3.5 and natural sand. Different particle size fractions and proportions of scrap tire rubber were used: a mix obtained almost directly from industry (only after sieving for preparation of particle sizes similar to mortar aggregate) and separated fine, medium and coarse fractions; 0%, 18%, 36% and 54% weight of binder, corresponding to 2.5%, 5% and 7.5% weight of sand. The influence of the rubbers´ additions on the mortars´ fresh state, mechanical and physical performance is presented, namely by flow table consistency, water retention, fresh bulk density, dynamic elasticity modulus, flexural and compressive strength, open porosity and bulk density, capillary absorption, drying and thermal conductivity. The use of the rubber mix coming from the waste tire industry seems advantageous and may open possibilities for use as raw material by the mortars industry.

Brazilian equity risk premium analysis: A macroeconomic approach

Double Degree Masters in Economics Program from Insper and NOVA School of Business and Economics

Competition effects from patient mobility in the European Union

This paper studies the effects of reimbursement for medical tourism within the European Union. We use a spatial competition framework to study the effects on prices, qualities and patient flows between two countries. Patient mobility increases with the implementation of reimbursement mechanisms. The resulting equilibria in prices and qualities depend on the rule of reimbursements and possible differences in country specific parameters. Soft budget constraints that public providers may have, pose a competitive advantage over private providers and divert demand toward the former. Supranational coordination concerning soft budgets constraints is needed to address the potentially detrimental effects on aggregate welfar

External quality assessment in the voluntary counseling and testing centers in the Brazilian Amazon using dried tube specimens: results of an effectiveness evaluation

INTRODUCTION : In 2011, the Brazilian Ministry of Health rolled out a program for the external quality assessment of rapid human immunodeficiency virus (HIV) tests using the dried tube specimen (DTS) method (EQA-RT/DTS-HIV). Our objective was to evaluate the implementation of this program at 71 voluntary counseling and testing centers (VCTCs) in the Brazilian Legal Amazonian area one year after its introduction. METHODS : Quantitative and qualitative study that analyzed secondary data and interviews with healthcare workers (HCWs) (n=39) and VCTC coordinators (n=32) were performed. The assessment used 18 key indicators to evaluate the three dimensions of the program's logical framework: structure, process, and result. Each indicator was scored from 1-4, and the aggregate results corresponding to the dimensions were expressed as proportions. The results were compared to the perceptions of the HCWs and coordinators regarding the EQA-RT/DTS-HIV program. RESULTS: The aggregate scores for the three dimensions of structure, process, and result were 91.7%, 78.6%, and 95%, respectively. The lowest score in each dimension corresponded to a different indicator: access to Quali-TR online system 39% (structure), registration in Quali-TR online system 38.7% (process), and VCTC completed the full process in the program's first round 63.4% (result). Approximately 36% of the HCWs and 52% of the coordinators reported enhanced trust in the program for its rapid HIV testing performance. CONCLUSIONS: All three program dimensions exhibited satisfactory results (>75%). Nevertheless, the study findings highlight the need to improve certain program components. Additionally, long-term follow-ups is needed to provide a more thorough picture of the process for external quality assessment.

Measuring spillover effects in Euro Area equity and bond markets

Since its inception, the Eurozone has experienced significant financial integration. However, with the recent turbulent period, the dynamics of this integration may have changed. This study analyses the volatility spillovers from the US and aggregate Eurozone markets into ten Euro Area national equity and bond markets, using a regime-switching model with shifting shock sensitivities. The evidence confirms an increased impact of shock spillover intensity after the 2008 crisis in the equity market and a decrease of the same parameters for the bond market. In both markets, the overall impact of the Eurozone is greater when compared to the U.S.

MarketOpolis: A market simulation based on investors decisions

This study aims to replicate Apple’s stock market movement by modeling major investment profiles and investors. The present model recreates a live exchange to forecast any predictability in stock price variation, knowing how investors act when it concerns investment decisions. This methodology is particularly relevant if, just by observing historical prices and knowing the tendencies in other players’ behavior, risk-adjusted profits can be made. Empirical research made in the academia shows that abnormal returns are hardly consistent without a clear idea of who is in the market in a given moment and the correspondent market shares. Therefore, even when knowing investors’ individual investment profiles, it is not clear how they affect aggregate markets.

Improving accuracy of inflation forecasts using macroeconomic information

This thesis examines the effects of macroeconomic factors on inflation level and volatility in the Euro Area to improve the accuracy of inflation forecasts with econometric modelling. Inflation aggregates for the EU as well as inflation levels of selected countries are analysed, and the difference between these inflation estimates and forecasts are documented. The research proposes alternative models depending on the focus and the scope of inflation forecasts. I find that models with a Generalized AutoRegressive Conditional Heteroskedasticity (GARCH) in mean process have better explanatory power for inflation variance compared to the regular GARCH models. The significant coefficients are different in EU countries in comparison to the aggregate EU-wide forecast of inflation. The presence of more pronounced GARCH components in certain countries with more stressed economies indicates that inflation volatility in these countries are likely to occur as a result of the stressed economy. In addition, other economies in the Euro Area are found to exhibit a relatively stable variance of inflation over time. Therefore, when analysing EU inflation one have to take into consideration the large differences on country level and focus on those one by one.

O fenómeno da criminalidade itinerante

In an increasingly globalized society, the crime appears as a reality that crosses borders. Globalization has potentiated the emergence of new forms of crime, which have been the subject of more interventional, particularly in terms of political, judicial and police authorities as well as civil society approaches. The media allow rapid expansion of criminal methodologies, which aggregate to the ease of movement of itinerant criminal groups, increases the opportunities for the continuation of the practice of criminal offenses, threatening, increasingly, the tranquility and safety of populations. Criminal organizations are characterized by their complexity, thus contributing to the difficulty in combat, by police and judicial authorities, forcing rapid adaptation to new political and criminal reality, particularly at the level of institutional cooperation, national and international, as exemplified by the creation of the "European Area of Freedom, Security and Justice" and new agencies in the field of police cooperation. It was intended with this paper to answer the central question: Is it possible to define a concept of Itinerant Crime in the European regulatory framework (Police and Judiciary)? To fulfill this aim, we performed the characterization of the concept of itinerant crime including itinerant criminal group, we analyzed the work that is being done by the authorities, police and judiciary, in order to contain the phenomenon. Finally, we studied type of existing cooperation at European level between the Member States and the authorities with responsibilities in this area. At the end, we conclude that efforts are being made towards the enhancement of operational, police and judicial cooperation, between the competent authorities of the European Union by combating this phenomenon. Define, and also proposed, a unique concept of Itinerant Crime, in order to be included in the legal standards, in order to facilitate research, in particular to better fit the itinerant crime and assist the prosecution of offenders.

Natural hydraulic lime (nhl3.5) mortars with scrap tire rubber

The use of wastes and industrial by-products as building materials is an important issue in order to decrease costs with waste management and the embodied energy of building products. In this study scrap tire rubber was used as additional aggregate of mortars based on natural hydraulic lime NHL 3.5 and natural sand. Different particle size fractions and proportions of scrap tire rubber were used: a mix obtained directly from industry and separated fine, medium and coarse fractions; 0 %, 18 %, 36 % and 54 % of the weight of binder, corresponding to 2.5 %, 5 % and 7.5 % of the weight of sand. As mortars based on NHL specifications became stricter with the current version of EN 459–1:2015, the influence of the rubber’s additions on the mortars’ fresh state, mechanical and physical performance is presented in this work: flow table consistency, water retention, dynamic elasticity modulus, flexural and compressive strength, open porosity and bulk density, capillary absorption, drying and thermal conductivity are studied. The use of the rubber mix coming from the waste tire industry seems advantageous and may open possibilities for use as raw material by the mortars industry.

Bias in returns to tenure when firm wages and employment comove: A quantitative assessment and solution

It is well known that, unless worker-firm match quality is controlled for, returns to firm tenure (RTT) estimated directly via reduced form wage (Mincer) equations will be biased. In this paper we show that even if match quality is properly controlled for there is a further pervasive source of bias, namely the co-movement of firm employment and firm wages. In a simple mechanical model where human capital is absent and separation is exogenous we show that positively covarying shocks (either aggregate or firm level) to firms employment and wages cause downward bias in OLS regression estimates of RTT. We show that the long established procedures for dealing with "traditional" RTT bias do not circumvent the additional problem we have identified. We argue that if a reduced form estimation of RTT is undertaken, firm-year fixed effects must be added in order to eliminate this bias. Estimates from two large panel datasets from Portugal and Germany show that the bias is empirically important. Adding firm-year fixed effects to the regression increases estimates of RTT in the two respective countries by between 3.5% and 4.5% of wages at 20 years of tenure over 80% (50%) of the estimated RTT level itself. The results extend to tenure correlates used in macroeconomics such as the minimum unemployment rate since joining the firm. Adding firm-year fixed effects changes estimates of these effects also.

Portugal Telecom

This Masters Thesis aims to be used in class for teaching purposes. The primary objective of the case is to understand the way critical anti-takeover measures can be used in a hostile takeover environment. The case portrays not only all defensive tools used by PT against Sonaecom (conditioned by the Portuguese Securities Code) but also all major interactions with relevant stakeholders. Communication is positioned as a central tool to stakeholders’ interaction. As a consequence of that, students are supposed to comprehend how PT used this instrument to implement its defensive strategy. This Masters Thesis was written essentially from PT’s perspective but it also includes all available Sonacom’s public statements and data. It joins several different points of view (from PT’s CEO and top management to PT’s employees and labor unions). Therefore, it is not supposed to mach exactly to one’s perspective of Sonecom’s takeover attempt but instead to be an aggregate view of the case. The mains idea is to promote debate in order to create an interactive class environment among session’s attendants. Main areas developed in this Thesis are Mergers and Acquisitions, Corporate Communication and Corporate Governance. The case's recommended questions are in line with these areas. Suggested answers for these questions are balanced with some academic documentation that can be complemented with some in-class notes according to the session's objectives.

Influence of ageing on the properties of bitumen from asphalt mixtures with recycled concrete aggregates

The reuse of recycled concrete aggregates in new hot-mix asphalt can be a more sustainable method of production, but these mixtures may need a heat treatment before compaction to improve their water sensitivity performance. A direct consequence of this treatment is an increase in the hot-mix asphalt resilient modulus. The aim of this paper is to analyse the effect of ageing on the stiffness of asphalt mixtures with different amounts of recycled concrete aggregates, before and after a heat treatment, which was analysed through the assessment of its bitumen properties. Moreover, this paper also aims to analyse whether the rolling thin-film oven test is able to simulate the ageing effect of the heat treatment. In the laboratory work, a paving grade bitumen B50/70 has been used to produce asphalt mixtures with 0% and 30% recycled concrete aggregates, and the bitumen was later characterised (using penetration, softening point, dynamic viscosity and dynamic shear rheometer tests) in various situations, such as when using virgin bitumen, short-term aged bitumen, aged bitumen after heat treatment (simulated with 4 h of rolling thin-film oven test) and bitumen samples recovered from asphalt mixtures with different production mixes (0% and 30% recycled concrete aggregate) and heat treatment conditions (0 and 4 h of curing time in the oven). Based on the results obtained, it could be concluded that the ageing resulting from the heat treatment is the primary cause of the hot-mix asphalt's increased stiffness, while recycled concrete aggregate content has a small influence. Moreover, it could be concluded that when there is no curing time, the recycled concrete aggregate protects the bitumen against ageing. Additionally, it could be stated that the rolling thin-film test is able to adequately simulate the ageing effect of the heat treatment. Thus, this test is useful for determining the ageing suffered by the bitumen when the recycled concrete aggregate mixture is manufactured using a heat treatment.