Rent-sharing in Brazil: using trade liberalization as a natural experiment

This paper examines the extent of rent-sharing in Brazil, between 1988 and 1995, combining two different data sets: annual industrial surveys (pIA) and annual household surveys (PNADs). The aim is to use the trade liberalization policies that took place in Brazil in the early 1990s as a "natural experiment" to examine the impact ofproduct market rents on wages. We first estimate inter-industry wage differentials in Brazil, using the household surveys, afier controlling for various observable workers' characteristics. In a reduced form fixed effects equation, these controlled inter-industry differentials are seen to depend on the industries' rate of effective tariff. We also find that LSDV estimates of the effect of value-added per worker (computed using the industrial surveys) on the wage differentials are positive, but somewhat small. However, we find that instrumenting the valued-added with the effective tariffs more than doubles the estimated rent-sharing coefficient. The paper concludes that rent-sharing is prevalent in the Brazilian manufacturing sector, and this mechanism transferred part of the productivity gains due to trade liberalization to manufacturing workers in the form ofhigher (controlled) wage premium.

Asset pricing when risk sharing is limited by default: a theoretical framework

We study the asset pricing implications of an endowment economy when agents can default on contracts that would leave them otherwise worse off. We specialize and extend the environment studied by Kocherlakota (1995) and Kehoe and Levine (1993) to make it comparable to standard studies of asset pricillg. We completely charactize efficient allocations for several special cases. We illtroduce a competitive equilibrium with complete markets alld with elldogellous solvency constraints. These solvellcy constraints are such as to prevent default -at the cost of reduced risk sharing. We show a version of the classical welfare theorems for this equilibrium definition. We characterize the pricing kernel, alld compare it with the one for economies without participation constraints : interest rates are lower and risk premia can be bigger depending on the covariance of the idiosyncratic and aggregate shocks. Quantitative examples show that for reasonable parameter values the relevant marginal rates of substitution fali within the Hansen-Jagannathan bounds.

Profit sharing with heterogeneous entrepreneural prowess

This paper analyzes the impact of profit sharing on the incentives that individuals face to set up their own business. It presents a model of capital accumulation in which individuals are equally skilled to be workers but differ in their abilities to manage a firmo It is shown that profit sharing can inhibit entrepreneurial initiatives, reducing the number of firms in operation, the aggregate output and the economy's long run capital stock.

Mandatory profit sharing, entrepreneurial incentives and capital accumulation

The impact of a mandatory tax on profits which is transferred to workers is analyzed in a general equilibrium entrepreneurial model. In the short run, this distortion reduces the number of fmns and the aggregate output. In the long run, if capital and labor are bad substitutes, it fosters capital accumulation and increases the aggregate output. In a small open economy with free movement of capital, it improves the welfare of the economy's average individual. One concludes that the benefits of sharing schemes may go beyond the short run employment-stabilization goal focused by the profit sharing literature.

A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright

Historically, payment systems and capital intermediation interact. Friedman (1959), and many observers of bank instabilities, have ad- vocated separating depositary from credit institutions. His proposal meets today an ever-increasing provision of inside money, and a short- age of monetary models of bank intermediation. In this paper, we eval- uate the proposal from a new angle, with a model in which isolating a safe payments system from commercial intermediation undermines information complementarities in banking activities. Some features of the environment resemble the models in Diamond and Dybvig (1983), and Kiyotaki and Wright (1989).

A distribuição de riscos em concessões florestais: uma análise econômico-jurídica dos riscos recorrentes do inventário florestal amostral

A Lei 11.284/2006 é um importante marco legal da atividade de gestão florestal do Brasil. O manejo florestal sustentável de florestas públicas, até então exercido exclusivamente pelo Estado, passou a ser passível de concessão com o advento dessa Lei. A chamada “concessão florestal” se insere, portanto, na nova orientação político-econômica brasileira de “desestatização”, privilegiando o princípio da eficiência. Como resultado, a atividade de exploração sustentável de produtos florestais passa a ser transferida pelo Estado, por intermédio do Serviço Florestal Brasileiro, à iniciativa privada. Para o sucesso de uma concessão florestal, os licitantes interessados precisam de uma estimativa da capacidade produtiva da “Unidade de Manejo Florestal”. O estudo disponibilizado pelo Serviço Florestal Brasileiro para fazer essa estimativa é o inventário florestal que, resumidamente, tem a importante missão de antecipar às características vegetais de área que será objeto da concessão. E os resultados desse estudo são a principal fonte de informação para que o licitante calcule o valor que irá ofertar ao Poder Concedente. Ocorre que, por questões técnico-metodológicas que fogem ao conhecimento jurídico, os estudos de inventário florestal estão sujeitos a erros de grande escala, retratando, de maneira ilusória, a realidade da vegetação que compõe área que será concedida. Isto é um risco intrínseco à atividade de exploração sustentável de produtos florestais. Diante desse contexto, caberia ao Serviço Florestal Brasileiro administrar o risco do inventário florestal da maneira mais eficiente possível. Entretanto, não é isso que vem ocorrendo nos contratos de concessão florestal. Sobre a distribuição de riscos em contratos de concessão, a doutrina especializada no tema oferece critérios que, quando seguidos, possibilitam uma alocação dos riscos peculiares a cada atividade à parte que melhor tem condições de geri-los. Esses critérios aumentam a eficiência da concessão. Contudo, os contratos de concessão florestal até hoje celebrados não vêm considerando esses importantes critérios para uma eficiente distribuição de riscos. Como consequência, o risco do inventário florestal é, igualmente a outros inúmeros riscos, negligenciado por esses contratos, aumentando-se a ineficiência dos contratos de concessão. Diante desse panorama, os licitantes interessados na concessão adotam duas posturas distintas, ambas igualmente rejeitáveis: a postura do Licitante Conservador e a postura do Licitante Irresponsável. Esses perfis de licitantes geram, respectivamente, ineficiência à concessão e, caso o erro do inventário florestal efetivamente ocorra, a possibilidade de inviabilidade da concessão. Como resposta a isso – que é exatamente o “problema” que pretendo resolver –, proponho uma solução para melhor administrar o risco do inventário florestal. Essa solução, inspirada em uma ideia utilizada na minuta do contrato de concessão da Linha 4 do Metrô de São Paulo, e baseando-se nos critérios oferecidos pela doutrina para uma distribuição eficiente dos riscos, propõe algo novo: a fim de tornar a os contratos de concessão florestal mais eficientes, sugere-se que o risco do inventário florestal deve ser alocado na Administração Pública, e, caso o evento indesejável efetivamente ocorra (erro do inventário florestal), deve-se, por meio do reequilíbrio econômico-financeiro do contrato, ajustar o valor a ser pago pelo concessionário ao Poder Concedente. Como consequência dessa previsão contratual, as propostas dos licitantes serão mais eficientes, permitindo-se alcançar o objetivo primordial da Lei 11.284/2006: aumento da eficiência da exploração florestal sustentável e preservação do meio ambiente e dos recursos florestais.

Rent-sharing no setor industrial brasileiro: uma análise empírica para o período de 2002 – 2012

Este trabalho visa analisar a existência de rent-sharing no setor industrial brasileiro entre os anos de 2002 e 2012. Este tema já foi amplamente abordado pela literatura internacional, onde é possível identificar evidências que corroboram a existência de rent-sharing nas economias desenvolvidas. Porém, para a economia brasileira este tema ainda foi pouco explorado e não temos conhecimento de estudos empíricos realizados para os anos mais recentes. A fim de examinar empiricamente a relação entre os lucros das firmas e a remuneração de seus trabalhadores, foram estimados dois modelos. Primeiramente, um modelo em cross section, que tem como unidade de observação o trabalhador, utilizando uma base de dados estruturada através do cruzamento da RAIS e da PIA. Também foi analisado se esta correlação ocorre de forma homogênea entre os níveis de qualificação dos trabalhadores. Em seguida, foi realizada a estimativa em painel dinâmico, cujo nível de agregação é o setor industrial, prevendo também a correção para o clássico problema de endogeneidade entre os lucros das firmas e os salários dos trabalhadores por meio de variáveis instrumentais. Os resultados indicam que um aumento no nível de rentabilidade das firmas gera, no longo prazo, uma elevação dos salários pagos naquele setor, porém este efeito é de baixa magnitude.

An online platform for real-time sensor data collection, visualization, and sharing

Sharing sensor data between multiple devices and users can be^challenging for naive users, and requires knowledge of programming and use of different communication channels and/or development tools, leading to non uniform solutions. This thesis proposes a system that allows users to access sensors, share sensor data and manage sensors. With this system we intent to manage devices, share sensor data, compare sensor data, and set policies to act based on rules. This thesis presents the design and implementation of the system, as well as three case studies of its use.

Cooperação em sagüis comuns callithrix jacchus: condições e restrições

The cooperative behavior is no longer a dilemma for the theory of evolution, since there are models that explain the evolution of this behavior by means of natural selection at the individual level. However, there have been few studies on the proximal factors that interfere with cooperative behavior. In the study of the influence of cognition on cooperation, many authors have been interested in situations in which individuals decide whether to act cooperatively and select partners with different qualities to cooperate. Of the factors studied, we highlight the need for understanding the apparatus and communication between partners to the occurrence of cooperation. Recently, highlight is the proposal that the ability to cooperate would be greater in species with cooperative breeding system. Thus, the common marmoset (Callithrix jacchus) is a New World monkey which stands as a valuable species for this type of study because it presents cooperative actions in nature, such as sharing food and protection of the community territory. Our experiment investigated whether common marmosets unrelated females (n = 6) were able to cooperate using an electrical and a mechanical apparatus, if this cooperation is a byproduct of individual actions or involve social attention, if it occurs inter-individual variation in the use of devices and formation of roles (producer / scrounger) in dyads. We use the number of rewards obtained by animals (Ratio of Correct Pulls) as indicators of cooperation and glances for partners (Ratio of Correct Glances) as indicators of social attention and communication. The results indicate that the type of apparatus was not a constraint for the occurrence of cooperation between the marmosets, but still has not been verified formation of roles in the dyads. The performance of animals in the two devices showed a large variation in the learning time, not having relationship with the performance in the tests phase. In both devices the level of social glances at control phases were casually correlated with any other phase, but the data showed that there was not social attention, that is, the monkeys realized that they gave food to the partners, but the partners did

Motor perseveration during an A not B task in children with intellectual disabilities

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Perseveration in congenitally blind children: Effects of luminous and acoustic targets on a modified A-not-B task

The purpose of this study was to determine whether or not blind children perseverate during a modified Piagetian A-not-B reaching task, with conditions that employ luminous AB targets and acoustic AB targets. Ten congenitally blind children, ages 1-4 years, with residual vision for light, took part in this study. Behavioral and kinematic data were computed for participants' reaches, performed in six A trials and in two B trials, in both stimulus conditions. All of the children perseverated in the luminous condition, and none of them perseverated in the condition using acoustic targets. The children tilted their heads in the direction of the target as they reached towards it. However, this coupling action (head-reaching) occurred predominantly in the A trials in the acoustic condition. In the luminous condition, in contrast to the acoustic condition, the children took longer times to initiate the reaching movement. Also, in the luminous condition, the children explored the target surroundings, unlike the acoustic condition, in which they reached straight ahead. For these blind children, sound was more relevant to reaching than was the luminous stimulus. The luminous input caused perseveration in congenitally blind children in a similar way that has been reported in the literature for typically-developing, sighted infants, ages 8-12 months, performing A-not-B tasks with visual inputs. (C) 2012 Elsevier B.V. All rights reserved.

The role of vision in Parkinson's disease locomotion control: Free walking task

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

Copia Retrotransposon in the Zaprionus Genus: Another Case of Transposable Element Sharing with the Drosophila melanogaster Subgroup

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Task demand effects on postural control in older adults

The literature shows conflicting results regarding older adults' (OA) postural control performance. Differing task demands amongst scientific studies may contribute to such ambiguous results. Therefore, the purpose of this study was to examine the performance of postural control in older adults and the relationship between visual information and body sway as a function of task demands. Old and young adults (YA) maintained an upright stance on different bases of support (normal, tandem and reduced), both with and without vision, and both with and without room movement. In the more demanding tasks, the older adults displayed greater body sway than the younger adults and older adults were more influenced by the manipulation of the visual information due to the room movement. However, in the normal support condition, the influence of the moving room was similar for the two groups. These results suggest that task demand is an important aspect to consider when examining postural control in older adults. (c) 2006 Elsevier B.V. All rights reserved.