Flypaper effect revisited : evidence for tax collection efficiency in Brazilian municipalities

This paper has two purposes. First, to construct efficiency scores in tax collection for Brazilian municipalities in 2004, taking into consideration two outputs: amount of per capita local tax collected -tax revenue- and the size of local informal economy- tax base. This methodology eliminates the price- effect of tax collection. Second, using the rules established on the Brazilian Constitution in 1988 to transfer unconditional funds among municipalities as instrument, to estimate the relationship between intergovernmental transfers and efficiency in tax collection. We conclude that transfers affect negatively the efficiency in tax collection, leading to a reinterpretation of the flypaper effect.

Factors affecting the technical efficiency of production of the Brazilian banking system : a comparison of four statistical models in the context of data envelopment analysis

This paper uses an output oriented Data Envelopment Analysis (DEA) measure of technical efficiency to assess the technical efficiencies of the Brazilian banking system. Four approaches to estimation are compared in order to assess the significance of factors affecting inefficiency. These are nonparametric Analysis of Covariance, maximum likelihood using a family of exponential distributions, maximum likelihood using a family of truncated normal distributions, and the normal Tobit model. The sole focus of the paper is on a combined measure of output and the data analyzed refers to the year 2001. The factors of interest in the analysis and likely to affect efficiency are bank nature (multiple and commercial), bank type (credit, business, bursary and retail), bank size (large, medium, small and micro), bank control (private and public), bank origin (domestic and foreign), and non-performing loans. The latter is a measure of bank risk. All quantitative variables, including non-performing loans, are measured on a per employee basis. The best fits to the data are provided by the exponential family and the nonparametric Analysis of Covariance. The significance of a factor however varies according to the model fit although it can be said that there is some agreements between the best models. A highly significant association in all models fitted is observed only for nonperforming loans. The nonparametric Analysis of Covariance is more consistent with the inefficiency median responses observed for the qualitative factors. The findings of the analysis reinforce the significant association of the level of bank inefficiency, measured by DEA residuals, with the risk of bank failure.

On the efficiency of the Argentinean electricity wholesale market

This paper discusses two key aspects regarding the efficiency of the Argentinean Electricity Market. Using hourly data on prices, marginal costs, and operational status of generators, it will be argued that, unlike the former British and Californian electricity spot markets, this market is not subject to the conventional forms of exercise of market power by generators. We then use Chao's (1983) model of optimal configuation of electricity supply to evaluate the social desirability of the change in the supply pattern of the Argentinean electricity industry, which took place throughout the last ten years.

Wage inequality and trade liberalization : evidence from Argentina

Wage inequality has increased substantially in Argentina during the nineties. At the same time during this decade Argentina has gone through a rapid and deep process of trade liberalization. In this paper we try to associate both phenomena. In particular, we attempt to answer the following question: Did trade liberalization play any role in shaping the argentine wage structure during the period studied? Specifically, we test whether those sectors where import penetration deepened are also the sectors where, ceteris paribus, a higher increase in wage inequality has taken place. We fmd evidence that supports this hypothesis.

Brazilian Federal Universities : relative efficiency evaluation and data envelopment analysis

The papers aims at considering the issue of relative efficiency measurement in the context of the public sector. In particular, we consider the efficiency measurement approach provided by Data Envelopment Analysis (DEA). The application considered the main Brazilian federal universities for the year of 1994. Given the large number of inputs and outputs, this paper advances the idea of using factor analysis to explore common dimensions in the data set. Such procedure made possible a meaningful application of DEA, which finally provided a set of efficiency scores for the universities considered .

Asymptotic efficiency in an instrumental variable model

Esta dissertação se propõe ao estudo de inferência usando estimação por método generalizado dos momentos (GMM) baseado no uso de instrumentos. A motivação para o estudo está no fato de que sob identificação fraca dos parâmetros, a inferência tradicional pode levar a resultados enganosos. Dessa forma, é feita uma revisão dos mais usuais testes para superar tal problema e uma apresentação dos arcabouços propostos por Moreira (2002) e Moreira & Moreira (2013), e Kleibergen (2005). Com isso, o trabalho concilia as estatísticas utilizadas por eles para realizar inferência e reescreve o teste score proposto em Kleibergen (2005) utilizando as estatísticas de Moreira & Moreira (2013), e é obtido usando a teoria assintótica em Newey & McFadden (1984) a estatística do teste score ótimo. Além disso, mostra-se a equivalência entre a abordagem por GMM e a que usa sistema de equações e verossimilhança para abordar o problema de identificação fraca.

Banking efficiency, governance and financial regulation in Brazil

The paper analyses some dimensions of the relationship between banking efficiency, macroeconomic environment and financial regulation, with special focus on Brazil.

Banking efficiency, governance and financial regulation in Brazil: some brief explorative notes

In this note I will analyze briefly some issues that I consider important in the discussion related to the banking efficiency, governance and financial regulation, with special focus on Brazil. The subject is complex as involve different dimensions and I will explore here only some of them, some related to past researches other that should be explored in further research.

The economics of wage-led recovery: analysis and policy recommendations

The financial crisis and Great Recession have been followed by a jobs shortage crisis that most forecasts predict will persist for years given current policies. This paper argues for a wage-led recovery and growth program which is the only way to remedy the deep causes of the crisis and escape the jobs crisis. Such a program is the polar opposite of the current policy orthodoxy, showing how much is at stake. Winning the argument for wage-led recovery will require winning the war of ideas about economics that has its roots going back to Keynes’ challenge of classical macroeconomics in the 1920s and 1930s. That will involve showing how the financial crisis and Great Recession were the ultimate result of three decades of neoliberal policy, which produced wage stagnation by severing the wage productivity growth link and made asset price inflation and debt the engine of demand growth in place of wages; showing how wage-led policy resolves the current problem of global demand shortage without pricing out labor; and developing a detailed set of policy proposals that flow from these understandings. The essence of a wage-led policy approach is to rebuild the link between wages and productivity growth, combined with expansionary macroeconomic policy that fills the current demand shortfall so as to push the economy on to a recovery path. Both sets of measures are necessary. Expansionary macro policy (i.e. fiscal stimulus and easy monetary policy) without rebuilding the wage mechanism will not produce sustainable recovery and may end in fiscal crisis. Rebuilding the wage mechanism without expansionary macro policy is likely to leave the economy stuck in the orbit of stagnation.

Soil attributes and efficiency of sulfentrazone on control of purple nutsedge (Cyperus rotundus L.)

Herbicidas aplicados ao solo são submetidos à adsorção, lixiviação e degradação por processos físicos, químicos e biológicos, além da absorção pelas plantas. Todos esses processos são afetados pela classe dos solos onde foram aplicados e das condições climáticas reinantes logo após a aplicação, que afetarão a eficiência dos produtos no controle de plantas daninhas. Investigaram-se as influências dos atributos de solos e condições de cultivo na eficiência do herbicida sulfentrazone no controle da planta daninha tiririca (Cyperus rotundus L.). O Latossolo Vermelho-Amarelo Distrófico (LVAd), o Latossolo Vermelho (LVd - Distrófico; LVdf - Distroférrico; LVef - Eutroférrico) e o Nitossolo Vermelho Eutrófico (NVe) foram coletados sob duas condições de cultivo, visando obter solos com teores diferenciados de argila, óxido de ferro e matéria orgânica. As amostras dos solos foram submetidas à caracterização granulométrica, química e mineralógica e, em seguida, utilizadas no bioensaio de avaliação da eficiência do sulfentrazone (1,6 L p.c. ha-1) no controle da tiririca em condições de pré-emergência. O sulfentrazone apresentou comportamento diferenciado entre as classes de solos estudados e a sua eficiência diminuiu com o aumento do teor de óxido de ferro nos solos, na seguinte ordem: LVAd, LVd, NVe, LVef e LVdf, sendo que as variações nos teores de argila (240 a 640 g kg-1) e da matéria orgânica (12 a 78 g kg-1) dos solos não interferiram na eficiência do sulfentrazone.

Agronomic efficiency of intercropping tomato and lettuce

Quatro experimentos foram conduzidos na Unesp, Brasil, com o objetivo de determinar a viabilidade agronômica de cultivos consorciados de alface e tomate em ambiente protegido. Consórcios estabelecidos por transplantes da alface aos 0, 10, 20 e 30 dias após o transplante (DAT) do tomate e de tomate aos 0, 10, 20 e 30 DAT da alface, foram avaliados em duas épocas e comparados às suas monoculturas. Cada experimento foi conduzido em delineamento de blocos ao acaso, com nove tratamentos. Verificou-se que a produtividade do tomate e a classificação dos frutos não foram influenciadas pela alface, mas a produção da alface foi menor em consórcio. Quanto mais atrasado o transplante da alface menor foi a sua produtividade. Houve efeito de época de cultivo sobre a dimensão da vantagem agronômica do consórcio sobre a monocultura. Na primeira época de cultivo, os consórcios estabelecidos com o transplante da alface de 30 dias antes e até 20 dias após o transplante do tomate proporcionaram índices de eficiência do uso da área (EUA) de 1,63 a 2,22. Na segunda época, os consórcios estabelecidos com o transplante da alface antes do tomate, em até 30 dias, proporcionaram índices EUA de 1,57 a 2,05.

Efficiency of entomopathogenic fungi in the control of eggs and larvae of the horn fly Haematobia irritans (Diptera: Muscidae)

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

Efficiency of a constructed wetland for wastewaters treatment

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

Investment recovery period in electric motor of higher efficiency in pumping for irrigation

Neste trabalho, ajustou-se um modelo matemático para quantificar o efeito do rendimento do motor elétrico sobre os custos de um sistema de bombeamento para irrigação na estrutura tarifária de energia elétrica convencional e horo-sazonal verde, bem como calcular o tempo de recuperação do capital investido no equipamento de maior rendimento. em seguida, o mesmo foi aplicado a um sistema de irrigação tipo pivô central em duas opções de rendimento do motor elétrico: 92,6% (linha padrão) e 94,3% (linha alto rendimento), sendo que o custo de aquisição do primeiro correspondeu a 70% do segundo. A potência do motor elétrico era de 100 cv. Os resultados mostraram que o modelo permitiu avaliar se um motor de alto rendimento era viável economicamente em relação ao motor-padrão em cada estrutura tarifária. Nas duas estruturas tarifárias, o motor de alto rendimento não foi viável. Na tarifa horo-sazonal verde, somente seria viável se seu rendimento fosse 4,46% superior ao do motor-padrão. Na tarifa convencional, somente seria viável se o ganho de rendimento superasse 2,71%.