The effects of the minimum wage on earnings and employment in Brazil

This paper analyzes the effects of the mlmmum wage on both, eammgs and employment, using a Brazilian rotating panel data (Pesquisa Mensal do Emprego - PME) which has a similar design to the US Current Population Survey (CPS). First an intuitive description of the data is done by graphical analysis. In particular, Kemel densities are used to show that an increase in the minimum wage compresses the eamings distribution. This graphical analysis is then forrnalized by descriptive models. This is followed by a discussion on identification and endogeneity that leads to the respecification of the model. Second, models for employment are estimated, using an interesting decomposition that makes it possible to separate out the effects of an increase in the minimum wage on number of hours and on posts of jobs. The main result is that an increase in the minimum wage was found to compress the eamings distribution, with a moderately small effect on the leveI of employment, contributing to alleviate inequality.

Bias and size effects of price-comparison search engines : theory and experimental evidence

We analyze the impact on consumer prices of the size and bias of price comparison search engines. In the context of a model related to Burdett and Judd (1983) and Varian (1980), we develop and test experimentally several theoretical predictions. The experimental results confirm the model’s predictions regarding the impact of the number of firms, and the type of bias of the search engine, but reject the model’s predictions regarding changes in the size of the index. The explanatory power of an econometric model for the price distributions is significantly improved when variables accounting for risk attitudes are introduced.

Overconfidence and confirmation bias: are future managers vulnerable?

Decision makers often use ‘rules of thumb’, or heuristics, to help them handling decision situations (Kahneman and Tversky, 1979b). Those cognitive shortcuts are taken by the brain to cope with complexity and time limitation of decisions, by reducing the burden of information processing (Hodgkinson et al, 1999; Newell and Simon, 1972). Although crucial for decision-making, heuristics come at the cost of occasionally sending us off course, that is, make us fall into judgment traps (Tversky and Kahneman, 1974). Over fifty years of psychological research has shown that heuristics can lead to systematic errors, or biases, in decision-making. This study focuses on two particularly impactful biases to decision-making – the overconfidence and confirmation biases. A specific group – top management school students and recent graduates - were subject to classic experiments to measure their level of susceptibility to those biases. This population is bound to take decision positions at companies, and eventually make decisions that will impact not only their companies but society at large. The results show that this population is strongly biased by overconfidence, but less so to the confirmation bias. No significant relationship between the level of susceptibility to the overconfidence and to the confirmation bias was found.

Bias from ignoring price dispersion in demand estimation

Consumers often pay different prices for the same product bought in the same store at the same time. However, the demand estimation literature has ignored that fact using, instead, aggregate measures such as the “list” or average price. In this paper we show that this will lead to biased price coefficients. Furthermore, we perform simple comparative statics simulation exercises for the logit and random coefficient models. In the “list” price case we find that the bias is larger when discounts are higher, proportion of consumers facing discount prices is higher and when consumers are more unwilling to buy the product so that they almost only do it when facing discount. In the average price case we find that the bias is larger when discounts are higher, proportion of consumers that have access to discount are similar to the ones that do not have access and when consumers willingness to buy is very dependent on idiosyncratic shocks. Also bias is less problematic in the average price case in markets with a lot of bargain deals, so that prices are as good as individual. We conclude by proposing ways that the econometrician can reduce this bias using different information that he may have available.

Home bias no mercado de capitais brasileiro : um estudo sobre a custódia de investidores em ações

A presente dissertação apresenta uma análise da concentração do portfólio de a-ções de investidores brasileiros nas próprias empresas onde trabalham com o intuito de observar se o Home Bias se aplica à amostra analisada. Nosso estudo foi reali-zado com uma amostra extraída da custódia de 86 clientes de uma corretora de va-lores mobiliários, sendo estes dados reais de mercado. Restringimos a seleção da amostra de forma que metade fosse de clientes que trabalham em empresas de ca-pital aberto e a outra metade não. Foi feita análise cross section de quanto os inves-tidores alocam em ações das empresas para a qual trabalham e verificou-se qual o percentual desta participação em seus portfólios, em comparação a uma amostra de controle de investidores que não trabalham nesta mesma empresa. Além destas a-nálises, separamos a amostra pelo valor total do portfólio e realizamos os mesmos estudos com estes dois grupos diferentes da amostra. Como uma análise de robus-tez, identificamos empresas listadas que não adotam a remuneração com ações como uma sub-amostra do estudo. Como resultado, encontramos evidências de que os funcionários investem significativamente mais (seja em proporção do portfólio ou em valores) em ações das empresas onde trabalham em relação aos demais inves-tidores, evidenciando um viés de familiaridade na tomada de decisão de investimen-tos.

Higher salaries, more teaching, better performance? The effects of the introduction of the minimum salary for teachers in Brazil

De acordo com a literatura empírica, há fortes evidências de que, após o controle de características socioeconômicas dos alunos, a qualidade dos professores é o fator mais importante para explicar o desempenho do aluno em testes padronizados. No entanto, não há consenso sobre como sistemas públicos de ensino podem melhorar a qualidade dos professores. Será que o pagamento de salários mais elevados a professores da rede pública impactam a qualidade dos professores nas escolas públicas? O Governo Federal brasileiro introduziu, em 2009, piso salarial nacional para os professores de escolas públicas, provocando um perceptível aumento exógeno dos salários dos professores municipais. O principal objetivo desta tese é avaliar os impactos de curto prazo da elevação linear e incondicional do salário do professor na qualidade da educação. Devido à ausência de dados secundários sobre o valor do salário-base de professores entre 2008 e 2013, tivemos que realizar um levantamento com as Secretarias Municipais de Educação para reunir informação sobre a estrutura da carreira docente e sobre os salários-bases nesse período. Com base em nossa pesquisa de campo, o primeiro capítulo investiga a conformidade dos sistemas municipais de ensino ao piso salarial nacional para professores de redes públicas. Encontramos que fatores não observáveis/observados são determinantes para explicar a variabilidade salarial verificada entre os municípios e o cumprimento da lei, o que embasa nossa estratégia de identificação com base em métodos de diferença em diferenças, combinados com pareamento com base em escore de propensão. O segundo capítulo centra-se na estimativa do impacto da elevação dos salários dos professores sobre a proficiência dos alunos de 5º ano do ensino fundamental municipal. De acordo com estes resultados, o aumento salarial incondicional não gerou uma expansão da proficiência escolar dos alunos, pelo menos no curto prazo. Embora não tenham sido detectados impactos na aprendizagem dos alunos, alguns mecanismos de transmissão do aumento salarial para melhores resultados educacionais podem já ter sido ativados. Assim, o principal objetivo do terceiro capítulo é avaliar o impacto dos aumentos de salário sobre a qualidade dos professores atuais e dos potenciais futuros professores. Avaliamos o impacto de aumentos de salário sobre o desempenho dos professores no ENADE, uma proxy de sua qualidade, e sobre a atratividade dos cursos de ensino superior associados à carreira docente. Essa atratividade é medida por meio da qualidade dos que entram nos respectivos cursos superiores, de acordo com seu desempenho no Enem. Neste último capítulo, aplicamos modelo de Tripla-Diferenças visando controlar dois tipos de potenciais fatores de confusão: (i) mudanças no desempenho dos professores (potenciais futuros professores) entre grupos de municípios, que foram submetidos ao tratamento e os que não foram tratados, que nada têm a ver com a política; e (ii) as alterações no desempenho de todos os professores (alunos) que vivem no município em que houve a elevação salarial devido à introdução da lei. As estimativas obtidas indicam que a elevação salarial gerou efeitos leves sobre a qualidade dos professores e sobre a atratividade dos cursos relacionados à carreira docente.

Effects of butorphanol on the minimum anesthetic concentration for sevoflurane in guineafowl (Numida meleagris)

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Propriedades físicas de bicamadas magnéticas

The magnetic order of bylayers composed by a ferromagnetic film (F) coupled with an antiferromagnetic film (AF) is studied. Piles of coupled monolayers describe the films and the interfilm coupling is described by an exchange interaction between the magnetic moments at the interface. The F has a cubic anisotropy while the AF has a uniaxial anisotropy. We analyze the effects of an external do magnetic field applied parallel to the interface. We consider the intralayer coupling is strong enough to keep parallel all moments of the monolayer an then they are described by one vector proportional to the magnetization of the layer. The interlayer coupling is represented by an exchange interaction between these vectors. The magnetic energy of the system is the sum of the exchange. Anisotropy and Zeeman energies and the equilibrium configuration is one that gives the absolute minimum of the total energy. The magnetization of the system is calculated and the influence of the external do field combined with the interfilm coupling and the unidirectional anisotropy is studied. Special attention is given to the region near of the transition fields. The torque equation is used to study dynamical behavior of these systems. We consider small oscillations around the equilibrium position and we negleet nonlinear terms to obtain the natural frequencies of the system. The dependence of the frequencies with the external do field and their behavior in the phase transition region is analized

Minimum size for the occurrence of vortex matter in a square mesoscopic superconductor

The study of superconducting samples in mesoscopic scale presented a remarkable improvement during the last years. Certainly, such interest is based on the fact that when the size of the samples is close to the order of the temperature dependent coherence length xi(T), and/or the size of the penetration depth lambda(T), there are some significant modifications on the physical properties of the superconducting state. This contribution tests the square cross-section size limit for the occurrence (or not) of vortices in mesoscopic samples of area L-2, where L varies discretely from 1 xi(0) to 8 xi(0).The time dependent Ginzburg-Landau (TDGL) equations approach is used upon taking the order parameter and the local magnetic field invariant along the z-direction. The vortex configurations at the equilibrium can be obtained from the TDGL equations for superconductivity as the system relaxes to the stationary state.The obtained results show that the limit of vortex penetration is for the square sample of size 3 xi(0) x 3 xi(0) in which only a single vortex are allowed into the sample. For smaller specimens, no vortex can be formed and the field entrance into the sample is continuous and the total flux penetration occurs at higher values of H/H-c2(0), where H-c2(T) is the upper critical field. Otherwise, for larger samples different vortices patterns can be observed depending on the sample size. (c) 2007 Elsevier B.V. All rights reserved.

Studies on the cooling minimum quantity and conventional cooling at hardened steels in grinding process

The purpose of this work is to explain the concept of cutting fluids reasonable usage through the fluid minimum quantity in grinding processes. on that purpose, the development of a new nozzle and an own and adequate methodology should be required in order to obtain good results and compare them to the conventional methods. The analysis of the grinding wheel/cutting fluid performance was accomplished from the following input parameters: flow rate variation by nozzle diameter changes (three diameters values: 3mm, 4mm and 5mm), besides the conventional round nozzle already within the machine. Integral oil and a synthetic emulsion were used as cutting fluids and a conventional grinding wheel was employed. The workpieces were made of steel VC 131, tempered and quenched with 60HRc. Thus, as the flow rate and the nozzle diameter changes, keeping steady fluid jet velocity (equal to cutting velocity), attempted to find the best machining conditions, with the purpose to obtain a decrease on the cutting fluid volume, taking into consideration the analysis of the process output variables such as cutting strength, cutting specific energy, grinding wheel wear and surface roughness. It was verified that the 3mm diameter optimized nozzle and the integral oil, in general, was the best combination among all proposed.

Analysis of surface integrity for minimum quantity lubricant - MQL in grinding

The quality of machined components is currently of high interest, for the market demands mechanical components of increasingly high performance, not only from the standpoint of functionality but also from that of safety. Components produced through operations involving the removal of material display surface irregularities resulting not only from the action of the tool itself, but also from other factors that contribute to their superficial texture. This texture can exert a decisive influence on the application and performance of the machined component. This article analyzes the behavior of the minimum quantity lubricant (MQL) technique and compares it with the conventional cooling method. To this end, an optimized fluid application method was devised using a specially designed nozzle, by the authors, through which a minimum amount of oil is sprayed in a compressed air flow, thus meeting environmental requirements. This paper, therefore, explores and discusses the concept of the MQL in the grinding process. The performance of the MQL technique in the grinding process was evaluated based on an analysis of the surface integrity (roughness, residual stress, microstructure and microhardness). The results presented here are expected to lead to technological and ecological gains in the grinding process using MQL. (c) 2006 Elsevier Ltd. All rights reserved.

Improving minimum quantity lubrication in CBN grinding using compressed air wheel cleaning

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

Application of the Minimum Quantity Lubrication (MQL) Technique in the Plunge Cylindrical Grinding Operation

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

Effect of target bias on magnetic field enhanced plasma immersion ion implantation

Recent studies have demonstrated that sheath dynamics in plasma immersion ion implantation (PIII) is significantly affected by an external magnetic field, especially in the case when the magnetic field is parallel to the workpiece surface or intersects it at small angles. In this work we report the results from two-dimensional, particle-in-cell (PIC) computer simulations of magnetic field enhanced plasma immersion implantation system at different bias voltages. The simulations begin with initial low-density nitrogen plasma, which extends with uniform density through a grounded cylindrical chamber. Negative bias voltage is applied to a cylindrical target located on the axis of the vacuum chamber. An axial magnetic field is created by a solenoid installed inside the target holder. A set of simulations at a fixed magnetic field of 0.0025 T at the target surface is performed. Secondary electron emission from the target subjected to ion bombardment is also included. It is found that the plasma density around the cylindrical target increases because of intense background gas ionization by the electrons drifting in the crossed E x B fields. Suppression of the sheath expansion and increase of the implantation current density in front of the high-density plasma region are observed. The effect of target bias on the sheath dynamics and implantation current of the magnetic field enhanced PIII is discussed. (C) 2007 Elsevier B.V. All rights reserved.