Nominal Debt as a Burden on Monetary Policy

We study the effects of nominal debt on the optimal sequential choice of monetary policy. When the stock of debt is nominal, the incentive to generate unanticipated inflation increases the cost of the outstanding debt even if no unanticipated inflation episodes occur in equilibrium. Without full commitment, the optimal sequential policy is to deplete the outstanding stock of debt progressively until these extra costs disappear. Nominal debt is therefore a burden on monetary policy, not only because it must be serviced, but also because it creates a time inconsistency problem that distorts interest rates. The introduction of alternative forms of taxation may lessen this burden, if there is enough commtiment to fiscal policy. If there is full commitment to an optimal fiscal policy, then the resulting monetary policy is the Friedman rule of zero nominal interest rates.

Successful Tree Planting, March 2002

Advance planning, proper species selection, site preparation, careful handling of tree seedlings, and a good weed control program will help assure a successful tree planting. A commitment to plant with care, is an important first step that leads to successful establishment of tree and shrub seedlings.

Proteção Social em Cabo Verde

Durante a última década, Cabo Verde tem tido um crescimento constante, impulsionado pelo turismo, remessas da diáspora, o investimento directo estrangeiro e ajuda ao desenvolvimento, enquanto o déficit orçamentário e da dívida pública permaneceram limitados. A maioria dos indicadores de desenvolvimento humano apontam para melhorias consideráveis e estão entre os mais altos na África subsaariana. A expectativa de vida ao nascer é de 72 anos, a taxa de mortalidade infantil caiu pela metade nos últimos 20 anos, a taxa de alfabetização é de 80% e a taxa de matrícula no ensino primário recentemente chegou a 100%. A taxa de pobreza diminuiu de 36,7% em 2001 para 26,6% em 2007. Cabo Verde é um dos poucos países na África que prevê atingir todas as metas dos Objectivos de Desenvolvimento do Milênio. Em 2008, o país ganhou status de país de rendimento intermédio.

Functional role of Notch signaling in the developing and postnatal heart

In the developing heart, Notch signaling plays an essential role in several key developmental processes, such as epithelial-to-mesenchymal transition and myocyte proliferation and differentiation. The importance of Notch in cardiac development has been demonstrated in knockout mice carrying null mutations in genes encoding components of the Notch pathway. Furthermore, humans with inactivating mutations in the Notch ligand Jagged1 suffer from Alagille syndrome, a condition characterized by several cardiac defects. Notch1 receptor haploinsufficiency has also been involved in aortic valve disease in humans. In addition, accumulating evidence indicates that Notch may also regulate homeostasis in the adult heart. Notch may protect the heart from an excessive and detrimental hypertrophic response and increase cardiomyocyte survival. Emerging evidence also suggests that Notch could be important for cardiac tissue renewal by controlling the maintenance and commitment of a cardiac stem cell compartment.

Lessons learned from developing a national NCD programme in low- and middle-income countries (Seychelles)

This paper identifies selected issues and lessons learned from the implementation of a national program of prevention and control of non-communicable diseases (NCD) during the past 20 years in the Seychelles, a small island state in the African region. As early as in 1989, population-based surveys demonstrated high levels of several cardiovascular risk factors, which prompted an organized response by the government. The early creation of a NCD unit within the Ministry of Health, coupled with cooperation with international partners, enabled incremental capacity building and coherent development of NCD programs and policy. Information campaigns and screening for hypertension and diabetes in work/public places raised awareness and rallied increasingly broad awareness and support to NCD prevention and control. A variety of interventions were organized for tobacco control and comprehensive tobacco control legislation was enacted in 2009 (including total bans on tobacco advertising and on smoking in all enclosed public and work places). A recent School Nutrition Policy prohibits the sale of soft drinks in schools. At primary health care level, guidelines were developed for the management of hypertension and diabetes (these conditions are managed in all health centers within a national health system); regular interactive education sessions were organized for groups of high risk patients ("heart health club"); and specialized "NCD nurses" were trained. Decreasing prevalence of smoking is evidence of success, but the raising "diabesity epidemic" calls for strengthened health care to high-risk patients and broader multisectoral policy to mould an environment conducive to healthy behaviors. Key components of NCD prevention and control in Seychelles include effective surveillance mechanisms supplemented by focused research; generating broad interest and consensus on the need for prevention and control of NCD; mobilizing leadership and commitment at all levels; involving local and international expertise; building on existing efforts; and seeking integrated, multi-disciplinary and multisectoral approaches.

Testing new identity models and processes in French-speaking adolescents and emerging adults students

Developing a sense of identity is a crucial psychosocial task for young people. The purpose of this study was to evaluate identity development in French-speaking adolescents and emerging adults (in France and Switzerland) using a process-oriented model of identity formation including five dimensions (i.e., exploration in breadth, commitment making, exploration in depth, identification with commitment, and ruminative exploration). The study included participants from three different samples (total N = 2239, 66.7% women): two samples of emerging adult student and one sample of adolescents. Results confirmed the hypothesized five-factor dimensional model of identity in our three samples and provided evidence for convergent validity of the model. The results also indicated that exploration in depth might be subdivided in two aspects: a first form of exploration in depth leading to a better understanding and to an increase of the strength of current commitments and a second form of exploration in depth leading to a re-evaluation and a reconsideration of current commitments. Further, the identity status cluster solution that emerged is globally in line with previous literature (i.e., achievement, foreclosure, moratorium, carefree diffusion, diffused diffusion, undifferentiated). However, despite a structural similarity, we found variations in identity profiles because identity development is shaped by cultural context. These specific variations are discussed in light of social, educational and economic differences between France and the French-speaking part of Switzerland. Implications and suggestions for future research are offered.

Devienne i el fagot : una visió de les obres de fagot i el seu moment

L’objectiu del treball és conèixer millor la figura de François Devienne i la seva obra per a fagot. Per això es fa un recorregut per la seva biografia, context històric i musical, el fagot de l’època, amb el qual tocava i per al qual composava, el seu catàleg de l’obra musical per fagot i una anàlisi de dues de les seves obres, una sonata i un quartet. Aquesta darrera part no es tracta només d’una anàlisi formal, sinó que recull també la vessant interpretativa.

Cooperative games in strategic form

In this paper we view bargaining and cooperation as an interaction superimposed on a strategic form game. A multistage bargaining procedure for N players, the proposer commitment procedure, is presented. It is inspired by Nash s two-player variable-threat model; a key feature is the commitment to threats. We establish links to classical cooperative game theory solutions, such as the Shapley value in the transferable utility case. However, we show that even in standard pure exchange economies the traditional coalitional function may not be adequate when utilities are not transferable.

On prediction of individual sequences

Sequential randomized prediction of an arbitrary binary sequence isinvestigated. No assumption is made on the mechanism of generating the bit sequence. The goal of the predictor is to minimize its relative loss, i.e., to make (almost) as few mistakes as the best ``expert'' in a fixed, possibly infinite, set of experts. We point out a surprising connection between this prediction problem and empirical process theory. First, in the special case of static (memoryless) experts, we completely characterize the minimax relative loss in terms of the maximum of an associated Rademacher process. Then we show general upper and lower bounds on the minimaxrelative loss in terms of the geometry of the class of experts. As main examples, we determine the exact order of magnitude of the minimax relative loss for the class of autoregressive linear predictors and for the class of Markov experts.

Affrimative Action Plan in Iowa, September 28, 2007

In with accordance 19B.5 of the Code of Iowa, this item has submitted the fiscal year 2007 Affirmative Action in Iowa report. The report details the progress we have made to balance our workforce in FY 2007. Just as importantly, the plan describes steps to put into practice our continued commitment to increasing diversity in the state’ workforce and details our response to the challenges we face as a result of increased talent competition. The State's renewed emphases on recruitments. along with greater oversight of state agency hiring practices, are key strategies that we must aggressively employ in competing for talent and balancing our workforce.

Social security and democracy

Many political economic theories use and emphasize the process of votingin their explanation of the growth of Social Security, governmentspending, and other public policies. But is there an empirical connectionbetween democracy and Social Security program size or design? Using somenew international data sets to produce both country-panel econometricestimates as well as case studies of South American and southern Europeancountries, we find that Social Security policy varies according toeconomic and demographic factors, but that very different politicalhistories can result in the same Social Security policy. We find littlepartial effect of democracy on the size of Social Security budgets, onhow those budgets are allocated, or how economic and demographic factorsaffect Social Security. If there is any observed difference, democraciesspend a little less of their GDP on Social Security, grow their budgetsa bit more slowly, and cap their payroll tax more often, than doeconomically and demographically similar nondemocracies. Democracies andnondemocracies are equally likely to have benefit formulas inducingretirement and, conditional on GDP per capita, equally likely to induceretirement with a retirement test vs. an earnings test.

Campaign rhetoric: A model of reputation

We analyze conditions under which a candidate's campaignrhetoric may affect the beliefs of the voters over whatpolicy the candidate will implement in case he wins theelection. We develop a model of repeated elections withcomplete information in which candidates are purely ideological. Voter's strategies involve a credible threat to punish candidates that renege of their campaignpromises, and in equilibrium all campaign promises arebelieved by voters, and honored by candidates. We obtainthat the degree to which promises are credible in equilibriumis an increasing function of the value of a candidate'sreputation.

Gestão do Desempenho como ferramenta para o alcance dos objectivos estratégicos

The current context of a strong competition and the ongoing search for competitive advantages requires more than processes modernization, technological and financial resources. It requires a competent workforce, strongly committed and engaged with Organization’s challenges. Under this scenario, it seems crucial to synchronize their performance with Organization’s strategy, aimed at pursuing its effective achievement. If well used, the Performance Evaluation as a strategy for Human Resource Management presents itself as an instrument to foster high levels of performance. A more recent approach of this policy refers to Performance Management representing a dynamic and participative evaluation system, which combines the development of consensual goals, support and follow-up for further execution of respective assessment. This research was based on the ENAPOR, S.A (Porto da Praia) case, with the intention of checking the alignment of its Performance Evaluation System with the Company's strategic goals and what the process features.

Strategic delegation in monetary unions

In monetary unions, monetary policy is typically made by delegates of the member countries. This procedure raises the possibility of strategic delegation - that countries may choose the types of delegates to influence outcomes in their favor. We show that without commitment in monetary policy, strategic delegation arises if and only if three conditions are met: shocks affecting individual countries are not perfectly correlated, risk-sharing across countries is imperfect, and the Phillips Curve is nonlinear. Moreover, inflation rates are inefficiently high. We argue that ways of solving the commitment problem, including the emphasis on price stability in the agreements constituting the European Union are especially valuable when strategic delegation is a problem.

Intelectuais africanos no espaço político português : desenvolvimento da sua intervenção nativista entre finais do século XIX e meados do século XX : o caso de Cabo Verde

Neste trabalho abordamos a intervenção nativista de alguns intelectuais africanos de Cabo Verde com o objectivo de clarificar o seu significado e alcance político. Apesar do seu empenho na defesa dos cabo-verdianos contra a opressão colonial portuguesa, aqueles intelectuais não conseguiriam gerar um movimento anti-colonial capaz de conduzir a colónia à independência, mas deixaram às novas gerações um legado político e cultural que lhes permitiu assegurar a luta pela preservação da sua identidade nacional e, finalmente, alcançar a emancipação de Cabo Verde da dominação colonial.