955 resultados para debt contracts


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Las asociaciones público privadas "APP" han sido utilizadas para distribuir riesgos y fomentar el desarrollo de los países a través de la provisión de infraestructura. Así, se implementan para proveer bienes y servicios públicos tanto en los sectores de infraestructura productiva (carreteras, puertos, aeropuertos, trenes), como en el sector de infraestructura social (escuelas, universidades, hospitales, edificaciones públicas, etc.). En Colombia, ante la escasez de recursos públicos y la necesidad de formular posiibles soluciones a la crisis del sector salud, surge como una posible solución el modelo de APP consagrado en la Ley 1508 de 2008.

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This paper examines the impact of public debt on the economic growth in advanced economies over a period of 1946 to 2009, using an econometric approach. The findings suggested an inverse relationship between public debt and economic growth in advanced economies. These relationships were found to be significant as well. Model results also show that the real GDP growth rate does not decline sharply whether the public debt-to-GDP ratio is lower than 220%. The public debt-to-GDP ratio elasticity of the real growth rate shows that an increase of 1% in public debt/GDP category above 120% decreases the real GDP growth rate in 1.13%. The negative effect of public debt is only stronger on the real GDP growth rate in advanced economies when the public debt-to-GDP ratio is above 220%. Finally, these findings lead us to reassess the austerity agenda, and the governments should devise new strategies for public debt management in advanced economies, taking into account their economic and financial performance.

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Smart contracts are the most advanced blockchain applications. They can also be used in the contractual domain for the encoding and automatic execution of contract terms. Smart contracts already existed before the blockchain, but they take advantage of the characteristics of that technology. Namely, the decentralised and immutable characters of the blockchain determine that no single contracting party can control, modify, or interrupt the execution of smart contracts. As every new phenomenon, blockchain-based smart contracts have attracted the attention of institutions. For example, in its Resolution of 3 October 2018 on distributed ledger technologies and blockchain, the European Parliament has stressed the need to undertake an in-depth assessment of the legal implications,starting from the analysis of existing legal frameworks. Indeed, the present research thesis aims to verify how blockchain-based smart contracts fit into contract law. To this end, the analysis starts from the most discussed and relevant aspects and develops further considerations. Before that, it provides a detailed description and clarifications about the characteristics, the functioning, and the development of the technology, which is an essential starting point for a high-level quality legal analysis. It takes into considerations already existing rules concerning the use of technology in the life cycle of contracts, from vending machines to computable contracts, and verifies its applicability to blockchain-based smart contracts. The work does not limit to consider the mere technology, but some concrete scenarios of adoption of blockchain-based smart contracts in the contractual domain. Starting from the latter, it focuses on the implications of blockchain-based smart contracts on contract formation, contract performance, and applicable law and jurisdiction.

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This thesis is an interdisciplinary piece of academic research, situated within Critical Theory but engaging with other disciplines, mainly Political Economy and Politics, to tackle the topic at hand; sovereign debt crises. The thesis deals with the Problem of Debt and, more specifically, the Problem of Prolonged Sovereign Debt Crises, which is described in this thesis as the phenomenon of the “Debt Trap”. The specific question that will occupy us in this thesis is why countries appear unable to exit these prolonged debt crises. By exiting a debt crisis, we mean here a state of affairs in which a country has managed to render its debt sustainable, regain its democratic sovereignty, achieve economic recovery and, what is more, mitigate adverse effects of the crisis, especially in what human development, social inequality and poverty rates are concerned. This question is tackled through the use of an interdisciplinary approach that combines critical theory perspectives -which are grouped in two paradigms, the Subjectivity paradigm and the genealogies of Capitalism paradigm- with financialisation literature. The purpose is to form an interdisciplinary intellectual framework that will allow us to analyse with a critical perspective the two case studies of the Greek crisis from 2009 to 2015 and the Argentinean crisis from 1983 to 2005. The aim of the thesis is to develop a theoretical framework that allows us to deconstruct the various ideological approaches to these two particular cases of Debt traps, including neoclassical and neoliberal approaches, Conservative and Keynesian approaches and uncover the political, economic and class relation that underpin the prolonged crises that the two countries have experienced.

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This Thesis focuses on the principles of international law relevant to the resolution of legal disputes arising from sovereign insolvency conflicts. It attempts to contribute to the “incremental” approach literature by identifying principles, justifying their application in litigation and assessing whether they may help to reconcile the trade-offs prevalent in that context. For that purpose, this Thesis distinguishes between two different types of principles. First, it investigates the “Principles of Public International Law” (henceforth, “PIL principles”). Said category refers to norms of the law of nations which can be considered functionally and structurally similar to domestic constitutional principles (i.e., that can be regarded as “optimization” or “prima facie” requirements). This Thesis underscores the PIL principles protecting the interests of the creditors and citizens as well as the “public interest”, arguing that decision makers face a trade-off between these principles in the context of restructurings. Secondly, this Thesis inquires into the “general principles of domestic law” (henceforth, “GPDs”) which can be applied in sovereign debt restructuring. Two GPDs are identified: a “stay” on litigation and a “cram down” on dissenting creditors’ claims. Although both principles have been identified by the prior literature, this work advances a small but significant “twist” in the methodology used for that purpose: it relies exclusively on functional and comparative analysis. Moreover, this work justifies the application of said GPDs for two jurisdictions: New York and Germany. Finally, it posits that those GPDs can help to mitigate the trade-offs between PIL principles, thus reconciling the interests at stake.

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This research addresses the use of ex ante contracts to arbitrate tort claims in domestic settings using law and economics research methodologies. Potential economic benefits from using arbitration, particularly between informed and knowledgeable parties and in international business transactions, are not guaranteed in domestic disputes. Arbitration can potentially be used to manipulate the adjudication process. This research has several findings. There is a lack of information available concerning the use of arbitration to adjudicate tort claims. Proxy measurements concerning the demand for third party adjudication and other legal indicators are a poor substitute for the information hidden behind the veil of arbitration. There is the potential for the strategic use of ex ante contracts to arbitrate tort claims by repeat player tortfeasors to domestic tort claims, both individually and in concert with other repeat player firms. These strategic efforts aim to: manipulate enforcement errors for tort claims, avoid procedural rules which have the effect of lowering enforcement errors, enable a unique type of domestic forum arbitrage, shirk from taking due care, capture the economic benefit of using arbitration, manipulate the stock of precedents and production of public goods from courts, collude in these underlying efforts, restrain competition, indirectly fix prices, and other aims which increase the repeat player tortfeasor’s or their industries economic gains related to their underlying contracts and tort disputes. This research also demonstrates how this subject is appropriate for further academic research and why states should be cautious of giving carte blanche to arbitrate all domestic tort claims.

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In questo elaborato vengono introdotte le caratteristiche fondamentali della blockchain ed in particolare dello sviluppo di smart contract tramite Solidity nella Blockchain Ethereum. Successivamente, sono illustrate le applicazioni di questa tecnologia in ambito sanitario e viene presentato il progetto sviluppato. In seguito, viene spiegata nel dettaglio l’implementazione del già menzionato progetto e si mostrano i test svolti; viene, inoltre, mostrata una semplice analisi sul costo computazionale, in termini di gas, del codice scritto. Questa tecnologia si presta efficacemente a sviluppi di applicazioni in ambito sanitario per le sue proprietà, come l’immutabilità e la privacy; nel sistema sviluppato la profonda sicurezza delle transazioni (data dalla blockchain) rende possibile l’acquisto e la gestione di un’assicurazione sanitaria senza la necessità di appoggiarsi a terze parti. In conclusione, vengono discusse possibili modifiche e miglioramenti al sistema proposto.

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The objective of this study is to verify the dynamics between fiscal policy, measured by public debt, and monetary policy, measured by a reaction function of a central bank. Changes in monetary policies due to deviations from their targets always generate fiscal impacts. We examine two policy reaction functions: the first related to inflation targets and the second related to economic growth targets. We find that the condition for stable equilibrium is more restrictive in the first case than in the second. We then apply our simulation model to Brazil and United Kingdom and find that the equilibrium is unstable in the Brazilian case but stable in the UK case.

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Universidade Estadual de Campinas . Faculdade de Educação Física

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Previous studies have revealed that students who work and study build up sleep deficits during the wrkweek, which can trigger a sleep rebound during days off. The objective of this study was to investigate the impact of working on sleepiness during days off working / non-working on sleepiness days off among high school students. The study population, aged 14-21 years, attended evening classes in São Paulo, Brazil. For the study, the students completed questionaires on living conditions, health, and work; wore actigraphs; and completed the Karolinska Sleepiness Scale (KSS). To predict sleepiness, a logistic regression analysis was performed. Excessive sleepiness was observed on the first day off among working students. Results suggest that working is a significant predictor for sleepiness and that two shifts of daily systematic activities, study and work, might lead to excessive daytime sleepiness on the first day off. Further, this observed excessive sleepiness may reflect the sleep debt accumulated during the workweek

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The structural engineering community in Brazil faces new challenges with the recent occurrence of high intensity tornados. Satellite surveillance data shows that the area covering the south-east of Brazil, Uruguay and some of Argentina is one of the world most tornado-prone areas, second only to the infamous tornado alley in central United States. The design of structures subject to tornado winds is a typical example of decision making in the presence of uncertainty. Structural design involves finding a good balance between the competing goals of safety and economy. This paper presents a methodology to find the optimum balance between these goals in the presence of uncertainty. In this paper, reliability-based risk optimization is used to find the optimal safety coefficient that minimizes the total expected cost of a steel frame communications tower, subject to extreme storm and tornado wind loads. The technique is not new, but it is applied to a practical problem of increasing interest to Brazilian structural engineers. The problem is formulated in the partial safety factor format used in current design codes, with all additional partial factor introduced to serve as optimization variable. The expected cost of failure (or risk) is defined as the product of a. limit state exceedance probability by a limit state exceedance cost. These costs include costs of repairing, rebuilding, and paying compensation for injury and loss of life. The total expected failure cost is the sum of individual expected costs over all failure modes. The steel frame communications, tower subject of this study has become very common in Brazil due to increasing mobile phone coverage. The study shows that optimum reliability is strongly dependent on the cost (or consequences) of failure. Since failure consequences depend oil actual tower location, it turn,,; out that different optimum designs should be used in different locations. Failure consequences are also different for the different parties involved in the design, construction and operation of the tower. Hence, it is important that risk is well understood by the parties involved, so that proper contracts call be made. The investigation shows that when non-structural terms dominate design costs (e.g, in residential or office buildings) it is not too costly to over-design; this observation is in agreement with the observed practice for non-optimized structural systems. In this situation, is much easier to loose money by under-design. When by under-design. When structural material cost is a significant part of design cost (e.g. concrete dam or bridge), one is likely to lose significantmoney by over-design. In this situation, a cost-risk-benefit optimization analysis is highly recommended. Finally, the study also shows that under time-varying loads like tornados, the optimum reliability is strongly dependent on the selected design life.

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The implementation of confidential contracts between a container liner carrier and its customers, because of the Ocean Shipping Reform Act (OSRA) 1998, demands a revision in the methodology applied in the carrier's planning of marketing and sales. The marketing and sales planning process should be more scientific and with a better use of operational research tools considering the selection of the customers under contracts, the duration of the contracts, the freight, and the container imbalances of these contracts are basic factors for the carrier's yield. This work aims to develop a decision support system based on a linear programming model to generate the business plan for a container liner carrier, maximizing the contribution margin of its freight.

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The objective of this Study was to describe the financial conditions of forestry contractors, concerning life quality aspects, condition of work and equipments, operational costs, and economic credit to invest in new technologies. Five companies had been analyzed, with an annual income between US$ 400,000.00 and US$ 1,720,000.00, with an average of US$ 950,000.00. The number of employees varied between 33 and 181, and the companies were classified in terms of size as: one small, two average, and two big. The main difficulties to invest in new machines were high financial taxes, more than 12% an year, and a lack of long term contracts to guarantee the payment capability. It was observed that the contractors did not consider the capital remuneration and a correct depreciation of machines, resulting in an average machine life higher than 10 years. The final conclusions were that the costs were above the paid values for the services, when computed the depreciation and capital remuneration, with negative results In the financial analyzes of three companies. Finally, the mechanization process increased the workers life quality, however, the annual income was around US$ 2,112.00 per worker, approximately 39% lower than the average Brazilian population.

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The study of displaced vertices containing two b-jets may provide a double discovery at the Large Hadron Collider (LHC): we show how it may not only reveal evidence for supersymmetry, but also provide a way to uncover the Higgs boson necessary in the formulation of the electroweak theory in a large region of the parameter space. We quantify this explicitly using the simplest minimal supergravity model with bilinear breaking of R-parity, which accounts for the observed pattern of neutrino masses and mixings seen in neutrino oscillation experiments.

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The large amount of information in electronic contracts hampers their establishment due to high complexity. An approach inspired in Software Product Line (PL) and based on feature modelling was proposed to make this process more systematic through information reuse and structuring. By assessing the feature-based approach in relation to a proposed set of requirements, it was showed that the approach does not allow the price of services and of Quality of Services (QoS) attributes to be considered in the negotiation and included in the electronic contract. Thus, this paper also presents an extension of such approach in which prices and price types associated to Web services and QoS levels are applied. An extended toolkit prototype is also presented as well as an experiment example of the proposed approach.