Essays on optimal fiscal and monetary policies

Cette thèse se compose de trois articles sur les politiques budgétaires et monétaires optimales. Dans le premier article, J'étudie la détermination conjointe de la politique budgétaire et monétaire optimale dans un cadre néo-keynésien avec les marchés du travail frictionnels, de la monnaie et avec distortion des taux d'imposition du revenu du travail. Dans le premier article, je trouve que lorsque le pouvoir de négociation des travailleurs est faible, la politique Ramsey-optimale appelle à un taux optimal d'inflation annuel significativement plus élevé, au-delà de 9.5%, qui est aussi très volatile, au-delà de 7.4%. Le gouvernement Ramsey utilise l'inflation pour induire des fluctuations efficaces dans les marchés du travail, malgré le fait que l'évolution des prix est coûteuse et malgré la présence de la fiscalité du travail variant dans le temps. Les résultats quantitatifs montrent clairement que le planificateur s'appuie plus fortement sur l'inflation, pas sur l'impôts, pour lisser les distorsions dans l'économie au cours du cycle économique. En effet, il ya un compromis tout à fait clair entre le taux optimal de l'inflation et sa volatilité et le taux d'impôt sur le revenu optimal et sa variabilité. Le plus faible est le degré de rigidité des prix, le plus élevé sont le taux d'inflation optimal et la volatilité de l'inflation et le plus faible sont le taux d'impôt optimal sur le revenu et la volatilité de l'impôt sur le revenu. Pour dix fois plus petit degré de rigidité des prix, le taux d'inflation optimal et sa volatilité augmentent remarquablement, plus de 58% et 10%, respectivement, et le taux d'impôt optimal sur le revenu et sa volatilité déclinent de façon spectaculaire. Ces résultats sont d'une grande importance étant donné que dans les modèles frictionnels du marché du travail sans politique budgétaire et monnaie, ou dans les Nouveaux cadres keynésien même avec un riche éventail de rigidités réelles et nominales et un minuscule degré de rigidité des prix, la stabilité des prix semble être l'objectif central de la politique monétaire optimale. En l'absence de politique budgétaire et la demande de monnaie, le taux d'inflation optimal tombe très proche de zéro, avec une volatilité environ 97 pour cent moins, compatible avec la littérature. Dans le deuxième article, je montre comment les résultats quantitatifs impliquent que le pouvoir de négociation des travailleurs et les coûts de l'aide sociale de règles monétaires sont liées négativement. Autrement dit, le plus faible est le pouvoir de négociation des travailleurs, le plus grand sont les coûts sociaux des règles de politique monétaire. Toutefois, dans un contraste saisissant par rapport à la littérature, les règles qui régissent à la production et à l'étroitesse du marché du travail entraînent des coûts de bien-être considérablement plus faible que la règle de ciblage de l'inflation. C'est en particulier le cas pour la règle qui répond à l'étroitesse du marché du travail. Les coûts de l'aide sociale aussi baisse remarquablement en augmentant la taille du coefficient de production dans les règles monétaires. Mes résultats indiquent qu'en augmentant le pouvoir de négociation du travailleur au niveau Hosios ou plus, les coûts de l'aide sociale des trois règles monétaires diminuent significativement et la réponse à la production ou à la étroitesse du marché du travail n'entraîne plus une baisse des coûts de bien-être moindre que la règle de ciblage de l'inflation, qui est en ligne avec la littérature existante. Dans le troisième article, je montre d'abord que la règle Friedman dans un modèle monétaire avec une contrainte de type cash-in-advance pour les entreprises n’est pas optimale lorsque le gouvernement pour financer ses dépenses a accès à des taxes à distorsion sur la consommation. Je soutiens donc que, la règle Friedman en présence de ces taxes à distorsion est optimale si nous supposons un modèle avec travaie raw-efficace où seule le travaie raw est soumis à la contrainte de type cash-in-advance et la fonction d'utilité est homothétique dans deux types de main-d'oeuvre et séparable dans la consommation. Lorsque la fonction de production présente des rendements constants à l'échelle, contrairement au modèle des produits de trésorerie de crédit que les prix de ces deux produits sont les mêmes, la règle Friedman est optimal même lorsque les taux de salaire sont différents. Si la fonction de production des rendements d'échelle croissant ou decroissant, pour avoir l'optimalité de la règle Friedman, les taux de salaire doivent être égales.

Estratégias competitivas genéricas nas empresas comerciais varejistas de shopping centers: um estudo a partir do modelo de Porter

Os shoppingcenters são grandes instituições repletas de empresas quecompetem entre si formas de como melhor satisfazer as necessidade dosclientes. Sendo assim, cada empresa utiliza-se de estratégias com o intuito deatingir a maior parcela de compradores possíveis sem comprometer suaexistência e sua vantagem competitiva. Este estudo está baseado na teoria dasestratégias competitivas genéricas de Porter (1980; 1985) o qual estabeleceem seu modelo que todas as empresas existentes no mercado possuam pelomenos uma das três abordagens estratégicas (diferenciação, liderança emcusto e enfoque). Desta forma, este trabalho identifica de que maneira estádistribuída as estratégia competitiva nas empresas de shoppingcenters deNatal/RN. Primeiramente buscou-se levantar a relação das estratégias destasempresas com a teoria proposta por Porter (1985) e sua alocação de acordocom os agrupamentos resultantes da combinação das estratégias. Nestemomento, foram aplicados questionários com 89 gerentes de lojas de shoppingcenters que resultou após análises estatísticas em cinco agrupamentos comabordagens válidas. Em seguida foram selecionadas as empresas quepossuíam maior afinidade com cada agrupamento e que melhor representavamos resultados dispostos em cinco clustersacerca da teoria proposta e nestaamostragem foi aplicada entrevista com os gerentes. Os resultados obtidos com as entrevistas validaram a análise dos dados encontrados nosquestionários anteriormente aplicados estando em conformidade com aproposta teoria. Identificou-se também duas modalidades de empresas queutilizavam simultaneamente mais de uma estratégia competitiva (meio-termo),sendo uma dentro e outra fora do modelo proposto pelo autor. Embora omodelo das estratégias competitivas genéricas tenha sido instituído comaspectos voltados as organizações industriais, os resultados obtidos nestetrabalho validaram a aplicação desta teoria em empresas comercias deshopping centers que vem se adequando para obter resultados financeirosmais satisfatórios e melhor posicionamento em relação à concorrência

A Tecnologia da informação como fator de competitividade em um APL: o caso do APL da carcinicultura do RN

Este estudo aborda a utilização da tecnologia da informação de forma competitiva em um Arranjo Produtivo Local (APL). Realizou-se no APL da carcinicultura no Estado do Rio Grande do Norte e teve por objetivo buscar a compreensão de como o uso da tecnologia da informação (TI) contribui para o aumento da competitividade na atividade do APL citado. APL pode ser conceituado como uma aliança entre organizações que possuem um projeto coletivo, para elevar a sua competitividade e participação no mercado. Para atingir este objetivo, foi realizada uma pesquisa descritiva, através da utilização de múltiplos casos selecionados dentre as empresas que compõem o APL da carcinicultura no RN. Os dados coletados foram analisados qualitativamente. Os resultados da pesquisa indicaram que as empresas percebem a importância do uso da TI, mas que, na prática, a sua utilização é limitada, principalmente em se tratando de Sistemas Integrados de Gestão e Comércio Eletrônico. Outro resultado encontrado foi que as empresas, embora façam parte do APL, ainda não colaboram entre si, seja através da troca de informações, ou através de Sistemas de Informação Interorganizacional. As principais recomendações diante destes resultados é que as empresas atuem ativamente para o fortalecimento do APL. No que se refere ao uso da TI faz-se necessário que elas invistam na aquisição de sistemas integrados de gestão e sistemas de informação interorganizacional para o melhor gerenciamento das informações ao longo da cadeia

Comunicação e imagem organizacional: um estudo de suas relações no comércio varejista de shopping centers

This study shows the results of an exploratory-descriptive research that aimed to identify the latent dimensions of communication, as well as finding relations between such dimensions and organizational image. The sample came to a total of 267 respondents, being 89 managers or owners and 178 salespeople of clothing and footwear stores that are situated in the main five shopping centers located in Natal, capital of Rio Grande do Norte. The collection of the data was made by the use of two structuralized and validated instruments, being the answers measured in the likert scale of 6 points. For the measurement of communication it was used the instrument developed by Downs and Hazen (2002), made up of 8 latent dimensions and 32 indicators. For the image it was used the model of Mael and Ashforth (1992) that contains 5 indicators. The analysis of the data was made through of the use of statistical techniques of factorial analysis and structural equations modeling. The results of the factorial analysis demonstrated communication as being formed by five latent dimensions. The modeling, on the other hand, demonstrated to exist positive relations between communication and organizational image, whose results revealed that the image is influenced by the communication with the supervisor, by the organizational integration and as being stronger explained by the vertical communication

Partial molar volumes of glycine and dl-alanine in aqueous ammonium sulfate solutions at 278.15, 288.15, 298.15 and 308.15 K

In this work, the partial molar volumes of glycine and DL-alanine in aqueous solutions of ammonium sulfate at 0.0, 0.1, 0.3, 0.7, and 1.0 mol.kg(-1) are determined between 278.15 and 308.15 K. Transfer volumes were obtained, which are larger for glycine than DL-alanine. On the contrary, the hydration numbers are higher for DL-alanine than glycine, and dehydration of the amino acids is observed with increasing temperature or salt molality. The data suggest that interactions between ion and charged/hydrophilic groups are predominant and, by applying the methodology proposed by Friedman and Krishnan, it was concluded that they are mainly pairwise. A group-contribution scheme has been successfully applied to the pairwise volumetric interaction coefficient. Finally, the dehydration effect on glycine, alanine and serine in the presence of different electrolytes has been rationalized in terms of the charge density and a parameter accounting for the cation's hydration.

O modelo de gestão estratégica do Ministério Público do Estado do Rio Grande do Norte: a análise da implantação do Balanced Scorecard

The goal of this research was to analyze the model of strategic management of the MPRN concerning the methodological guidelines presented by Balanced Scorecard. It is based in a theoretical referential which contemplates the themes, new public management, strategic management and Balanced Scorecard, focusing on applying the methodology in the public sector. This research is classified as descriptive and exploratory. According to the methods applied, it is a case study and, according to its approach, it is qualitative. The subjects of this research are members of the institution involved in the process of its strategic management. The data was collected by means of semi-structured interviews and document analysis, done by means of method content analysis. Concerning the goal of this research, it points out that the MPRN has not concluded the implantation cycle of Balanced Scorecard, furthermore, important flaws in the steps of organizational alingment have been identified, specially when it refers to communication policy, implementing incentive actions and focused training in developing competences. It yet reveals that the implantation of BSC has allowed the introduction of changes in the Institution dynamics to seek better results, however the MPRN has faced and has not adequately gotten over the same difficulties reported in various cases of BSC implantation in public organizations

Volumetric interactions of a series of α-amino acids in aqueous magnesium chloride solutions at 278.15, 288.15, 298.15, and 308.15 K

In this work, the partial molar volumes of glycine, l-alanine, l-valine, l-serine, and l-threonine in aqueous solutions of magnesium chloride at 0.0, 0.1, 0.3, 0.7, and 1.0 molal are addressed between 278.15 and 308.15 K. Volumes of transfer were obtained, following the rank serine > glycine a parts per thousand threonine > alanine > valine. Differently, the hydration numbers follow the sequence serine > valine > alanine > threonine > glycine, and dehydration of the amino acids is observed, rising the temperature or salt molality. The data suggest that interactions are mainly pairwise, between the ions and charged/hydrophilic groups of the amino acids. Within the Friedman and Krishnan formalism, a group-contribution scheme has been successfully applied to the pairwise volumetric interaction coefficient. Finally, the dehydration effect of MgCl2 on glycine, alanine, and serine has been predicted applying empirical correlations developed before, showing satisfactory results.

INFLACIÓN E INCERTIDUMBRE INFLACIONARIA: EVIDENCIA PARA COSTA RICA

En este documento se estima una medida de la incertidumbre inflacionaria. Un modelo de inflación señala incertidumbre cuando los errores de pronóstico son heteroscedásticos. Por medio de la especificación de una ecuación GARCH (Generalized Autoregressive Conditional Heteroscedasticity), para la varianza del término de error de un modelo de inflación, es posible estimar una proxy de incertidumbre inflacionaria. La estimación simultánea del modelo de inflación y de la ecuación GARCH, produce un nuevo modelo de inflación en el cual los errores de pronóstico son homocedásticos. Existe consenso en la literatura económica en que hay una correlación positiva entre incertidumbre inflacionaria y la magnitud de la tasa de inflación, lo cual, como lo señaló Friedman (1977), representa uno de los costos asociados con la persistencia inflacionaria. Esto es porque tal incertidumbre dificulta la toma de decisiones óptimas por parte de los agentes económicos.La evidencia empírica, para el periodo 1954:01-2002:08, apoya la hipótesis de que para el caso de Costa Rica mientras mayor es la inflación mayor es la incertidumbre respecto a esta variable. En los últimos siete años (1997-2002) la incertidumbre presenta la variación media más baja de todo el periodo. Además, se identifica un efecto asimétrico de la inflación sobre la incertidumbre inflacionaria, es decir, la incertidumbre inflacionaria tiende a incrementarse más para el siguiente periodo cuando la inflación pronosticada está por debajo de la inflación actual, que cuando la inflación pronosticada está por arriba de la tasa observada de inflación. Estos resultados tienen una clara implicación para la política monetaria. Para minimizar la dificultad que la inflación causa en la toma óptima de decisiones de los agentes económicos es necesario perseguir no solamente un nivel bajo de inflación sino que también sea estable.AbstractThis paper estimates a measure of inflationary uncertainty. An inflation model signals uncertainty when the forecast errors are heteroskedastic. By the specification of a GARCH (Generalized Autoregressive Conditional Heteroscedasticity) equation, for the variance of the error term of the inflation model, it is possible to estimate a proxy for inflationary uncertainty. By the simultaneous estimation of the inflation model and the GARCH equation, a new inflation model is obtained in which the forecast errors are homocedastic. Most economists agree that there is a positive correlation between inflationary uncertainty and the magnitude of the inflation rate, which, as was pointed out by Friedman (1977), represents one of costs associated with the persistence of inflation. This is because such uncertainty clouds the decision-making process of consumers and investors.The empirical evidence for the period 1954:01-2002:08 confirms that in the case of Costa Rica inflationary uncertainty increases as inflation rises. In the last seven years(1997-2002) the uncertainty present the mean variation most small of the period. In addition, inflation has an asymmetric effect on inflationary uncertainty. That is, when the inflation forecast is below the actual inflation, inflationary uncertainty increases for the next period. The opposite happens when the inflation forecast is above the observed rate of inflation. Besides, the absolute value of the change on uncertainty is greater in the first case than the second. These results have a clear implication for monetary policy. To minimize the disruptions that inflation causes to the economic decision-making process, it is necessary to pursue, not only a low level of inflation, but a stable one as well.

Clinical evaluation of two materials in the restoration of abfraction lesions

Aim: To evaluate the clinical performance of a composite resin (CR) and a resin-modified glassionomer cement (RMGIC) for the treatment of abfraction lesions. Methods: Thirty patients with abfraction lesions in at least two premolar teeth were selected and invited to participate in this study. All restorations were made within the same clinical time frame. One tooth was restored with CR Z100TM (3M, St. Paul, MN, USA), and the other was restored with RMGIC VitremerTM (3M). The restorations were assessed immediately and 1, 6 and 12 months after the restoration, using modified US Public Health Service (USPHS) criteria: marginal integrity, marginal discoloration, wear, retention, secondary caries and hypersensitivity. The statistical analysis was based on Friedman ANOVA test and Mann-Whitney test, considering p<0.05 for statistical significance. Results: Both materials demonstrated satisfactory clinical performance after one year. In the individual analysis of each material, there was a significant difference (p<0.05) in the criteria marginal integrity and wear, for both CR and RMGIC. RMGIC exhibited more damage one year after the restoration. Comparing both materials, it was found a significant difference only for marginal discoloration, while the RMGIC restorations showed the worst prognosis after a year of evaluation. There was no significant difference in the number of retentions, caries or hypersensitivity between CR and RMGIC. Conclusions: It was concluded that CR exhibited the best clinical performance according to the cost-effectiveness and evaluation criteria used in this study.

Influence of ultrasonic activation in association with different final irrigants on intracanal smear layer removal

Aim: To evaluate the influence of ultrasonic activation (US) with different irrigant regimens in smear layer removal. Methods: One hundred bovine incisors were instrumented and divided into ten groups (n=10) according to final irrigation protocols: distilled water (DW); DW+US; 17% EDTA; QMix; 10% citric acid; 37% phosphoric acid; 17% EDTA+US; QMix+US; 10% citric acid+US; 37% phosphoric acid+US. The samples were then submitted to scanning electron microscopy where a score system was used to evaluate the images and effectiveness of proposed treatments. The data were statistically analyzed by Kruskal-Wallis and Mann-Whitney U tests for intergroup comparisons as well as the Wilcoxon and Friedman tests for intragroup comparisons at 5% significance level. Results: In the cervical third, groups 17% EDTA, QMix, 10% citric acid, 17% EDTA+US, QMix+US and 10% citric acid+US were more effective in smear layer removal (p<0.05); in the middle third, groups 17% EDTA+US and QMix+US were more effective in smear layer removal (p<0.05); in the apical third, groups 17% EDTA,17% EDTA+US and QMix+US were more effective in smear layer removal (p<0.05). Conclusions: US can aid 17% EDTA and QMix in smear layer removal at the middle third and QMix at the apical third, contributing to the cleaning of root canal system.

Technical performance profile of the four-time Costa Rican senior basketball league championship team

The purpose of this study was to analyze and compare the technical performance profile of the four-time Costa Rican Senior Basketball League championship team. A total of 142 games was recorded throughout the 2007, 2008 and 2009 seasons. Performance indicators selected were: two and three-point shots (converted, missed, effectiveness rates), free throws (converted, missed, effectiveness rates), points, offensive and defensive rebounds, fouls, turnovers, assists and ball steals. The information was described based on absolute and relative frequency values. Data was compared by season and by playing period based on the following non-parametric techniques: U-test, Friedman test and Chi-square. In all cases, SPSS version 15.0 was used with a significance level of p ≤ 0.05. Results showed a better profile of technical performance in the 2008 season, characterized by better percentages of two-point shots, free throws, fewer turnovers and more ball steals and assists. In relation to the playing period, the team showed a better technical performance profile during the second half of the matches. In general, the effectiveness rate of two-point shots and free throws was above 60% in both playing periods, while the three-point shot percentage ranged between 26.4% and 29.2%. In conclusion, the team showed a similar technical performance profile to that reported in the literature, as well as a clear evidence of the importance of recording and following up on technical performance indicators in basketball.

Use of Bioscreen C for growth of Mucor hiemalis in different carbon and nitrogen sources

O sistema automatizado Bioscreen C foi utilizado para o crescimento de quatro linhagens de Mucor hiemalis, isoladas do solo da Estação Ecológica de Juréia-Itatins (EEJI), estado de São Paulo, em meios líquidos com uma única fonte de carbono (2%) ou de nitrogênio (1%), pH 5,0, a 25ºC, e agitação de 150rpm por 5 dias. O meio com somente uma única fonte de nitrogênio foi adicionado com 2% de glicose. As leituras de densidade óptica foram realizadas a 540nm, em intervalos de 2h, por cinco dias. Os resultados foram analisados estatisticamente com o Teste de Friedman (alfa = 5%). Os melhores crescimentos foram obtidos com as linhagens M1, M2 e M3, que atingiram o início da fase log em 60 horas de cultivo. As melhores fontes de carbono variaram de acordo com a linhagem estudada, e extrato de levedura provou ser a melhor fonte de nitrogênio para todas as linhagens. Acetato de sódio inibiu o crescimento das quatro linhagens, sendo a M3 a mais afetada. O uso do sistema automatizado foi muito conveniente para as culturas em meio liquido, sendo rápido e automático, constituindo em uma boa técnica para a determinação das condições ambientais ótimas para crescimento de fungos filamentosos.

Acumen : an open-source testbed for cyber-physical systems research

Developing Cyber-Physical Systems requires methods and tools to support simulation and verification of hybrid (both continuous and discrete) models. The Acumen modeling and simulation language is an open source testbed for exploring the design space of what rigorousbut- practical next-generation tools can deliver to developers of Cyber- Physical Systems. Like verification tools, a design goal for Acumen is to provide rigorous results. Like simulation tools, it aims to be intuitive, practical, and scalable. However, it is far from evident whether these two goals can be achieved simultaneously. This paper explains the primary design goals for Acumen, the core challenges that must be addressed in order to achieve these goals, the “agile research method” taken by the project, the steps taken to realize these goals, the key lessons learned, and the emerging language design.

Pelvic-Floor Rehabilitation, Part 2 : Pelvic-Floor Reeducation With Interferential Currents and Exercise in the Treatment of Genuine Stress Incontinence in Postpartum Women : A Cohort Study

Background and Purpose. This descriptive cohort study investigated a physical therapy program of pelvic-floor neuromuscular electrostimulation (NMES) combined with exercises, with the aim of developing a simple, inexpensive, and conservative treatment for postpartum genuine stress incontinence (GSI). Subjects. Eight female subjects with urodynamically established GSI persisting more than 3 months after delivery participated in the study. The subjects ranged in age from 24 to 37 years (X̅=32, SD=4.2). Methods. This was a descriptive multiple-subject cohort study. Each subject received a total of nine treatment sessions during 3 consecutive weeks, consisting of two 15-minute sessions of NMES followed by a 15-minute pelvic-floor muscle exercise program. Patients also practiced daily pelvic-floor exercises during the 3-week treatment period. The treatment intervention was measured using three separate variables. Maximum muscle contractions (pretraining, during training, and posttraining) were measured indirectly as pressure, using perineometry. Urine loss pretraining and posttraining was measured by means of a Pad test. Self-reported frequency of incontinence was recorded daily throughout the period of the study, using a diary. Data were analyzed using a one-way repeated measures analysis of variance (ANOVA), a Wilcoxon signed-ranks test, and a Friedman two-way ANOVA by ranks. Results. The results indicated that maximum pressure generated by pelvic-floor contractions was greater and both the quantity of urine loss and the frequency of incontinence were lower following the implementation of the physical therapy program. Five subjects became continent, and three others improved. A follow-up survey 1 year later confirmed the consistency of these results. Conclusion and Discussion. The results suggest that the proposed physical therapy program may influence postpartum GSI. Further studies are needed to validate this simple, inexpensive, and conservative physical therapy protocol.

La responsabilidad social corporativa y su relación con la rentabilidad: un análisis del sector bancario internacional

El estudio de la relación entre la RSC y el desempeño financiero (DEF) es complejo. En este sentido caben distintas hipótesis. En un extremo la hipótesis del impacto social (Freeman, 1984) defiende la existencia de un impacto positivo en la rentabilidad cuando se concilian los intereses y expectativas de la empresa y el conjunto de los grupos de interés. En el otro extremo, otros autores establecen una relación negativa entre la RSC y la rentabilidad (tradeoff hypothesis) mostrando que los costos asociados a la RSC exceden de los beneficios generados para la empresa (Friedman, 1962, 1970; Aupperle et al, 1985). En el medio algunos autores sostienen la existencia de mediadores o intangibles que explicarían los resultados a veces inconclusos y en definitiva sustentar una relación neutral entre ambas variables (Setó y Angla, 2011; Surroca, Tribó y Waddock, 2010; Gómez-García, 2008). Otros autores defienden la hipótesis de un círculo de valor virtuoso bidireccional o hipótesis de sinergia positiva entre la RSC y el DEF (McGuire et al, 1990; Waddock y Graves, 1997; Preston y ÓBannon, 1997; Orlitzky, et al., 2003, Orlitzky, 2005; Allouche y Laroche, 2005). De acuerdo a esta hipótesis, las compañías con resultados previos buenos liberan recursos para acometer actividades de RSC (hipótesis de la disponibilidad de recursos). Debido a ello, las investigaciones realizadas en los últimos años sobre el impacto de la RSC en el DEF arrojaron resultados inconclusos y conclusiones diferentes dependiendo de la industria, la dimensión estudiada de la RSC y del horizonte temporal considerado (Ortlitzky et al, 2003; Allouche y Laroche, 2005; Marom, 2006; Peloza, 2009; Martínez-Campillo et al 2013). En esta misma línea apuntan Godfrey y Hatch (2007) cuando señalaron la importancia de resolver estas tres cuestiones para poder comparar resultados...