Inclusion of disabled people in siemens AG'S energy management division

This work project is a business plan for a project regarding corporate social entrepreneurship that will be developed by Siemens Switchboard Factory in Corroios. The main purpose of this project is to understand the viability of a partnership between Siemens AG’s and CERCISA in order to include disabled people into Siemens AG’s Energy Management Division, with the goal of achieving social and economic impact by insources activities while complying with the law1. The produced output, a business plan, aims to study and understand the practical suitability and feasibility of the concepts and propose a sustainable project that can be replicated, starting with a pilot testing and validation period.

Basel III new capital requirements, impacts and bank behavior

For some years, researchers could not find a clear effect of capital adequacy on the risk profile of banks, as shareholders could increase the riskiness of the assets (qualitative effect), crowding-out the effect of reduced leverage (volume effect). Some shareholders might have the will to increase the riskiness of the assets, but they may lack the power to do so. Considering only ”powerful” shareholders, definitive conclusions were drawn but with constant ownership profile. In this paper I investigate whether there is a significant change in the type of shareholders in response to regulatory capital shocks and, if so, will the banking system be in the hands of more “desired” shareholders. I find that ownership profile responds to a regulatory shock, changing the risk appetite of the ruling power at the bank. I find more banks and the government in the ownership of undercapitalised banks and much less institutional shareholders and free float. I claim that these new shareholders may not the desired ones, given the objective of the regulatory change, as they are associated with a preference for more leverage. One possible explanation for this crowding-out effect is that regulators are trying to contain idiosyncratic risk (more linked to the riskiness of the assets) with a rule that contains systematic risk (capital adequacy). This has a distorting effect on ownership. Another insight can be drawn from the tests: supervisors should be aware of significant ownership movements that cause the crowding-out.

Improving Millennium Bank's personal finance manager

Double Degree

Using customer lifetime value to improve the prediction of bank deposit subscription in telemarketing campaigns

Customer lifetime value (LTV) enables using client characteristics, such as recency, frequency and monetary (RFM) value, to describe the value of a client through time in terms of profitability. We present the concept of LTV applied to telemarketing for improving the return-on-investment, using a recent (from 2008 to 2013) and real case study of bank campaigns to sell long- term deposits. The goal was to benefit from past contacts history to extract additional knowledge. A total of twelve LTV input variables were tested, un- der a forward selection method and using a realistic rolling windows scheme, highlighting the validity of five new LTV features. The results achieved by our LTV data-driven approach using neural networks allowed an improvement up to 4 pp in the Lift cumulative curve for targeting the deposit subscribers when compared with a baseline model (with no history data). Explanatory knowledge was also extracted from the proposed model, revealing two highly relevant LTV features, the last result of the previous campaign to sell the same product and the frequency of past client successes. The obtained results are particularly valuable for contact center companies, which can improve pre- dictive performance without even having to ask for more information to the companies they serve.

On the length of bank-firm relationships: an empirical application to a major French bank

NIPE - WP 01/ 2016

Digital literacy, technology and social inclusion: making sense of one-to-one computer programmes around the world

This book was produced in the scope of a research project entitled “Navigating with ‘Magalhães’: Study on the Impact of Digital Media in Schoolchildren”. This study was conducted between May 2010 and May 2013 at the Communication and Society Research Centre, University of Minho, Portugal and it was funded by the Portuguese Foundation for Science and Technology (PTDC/CCI-COM/101381/2008).

Foreword [to Digital literacy, technology and social inclusion: making sense of one-to-one computer programmes around the world]

(Excerto) In times past, learning to read, write and do arithmetic was to get on course to earn the “writ of emancipation” in society. These skills are still essential today, but are not enough to live in society. Reading and critically understanding the world we live in, with all its complexity, difficulties and challenges, require not only other skills (learning to search for and validate information, reading with new codes and grammar, etc) but, to a certain extent, also metaskills, matrixes and mechanisms that are transversal to the different and new literacies, are necessary. They are needed not just to interpret but equally to communicate and participate in the little worlds that make up our everyday activities as well as, in a broader sense, in the world of the polis, which today is a global world.

Introduction [to Digital literacy, technology and social inclusion: making sense of one-to-one computer programmes around the world]

This book was produced in the scope of a research project entitled “Navigating with ‘Magalhães’: Study on the Impact of Digital Media in Schoolchildren”. This study was conducted between May 2010 and May 2013 at the Communication and Society Research Centre, University of Minho, Portugal and it was funded by the Portuguese Foundation for Science and Technology (PTDC/CCI-COM/101381/2008). As we shall explain in more detail later in this book, the main objective of that research project was to analyse the impact of the Portuguese government programme named ´e-escolinha´ launched in 2008 within the Technological Plan for Education. This Plan responds to the principles of the Lisbon Strategy signed in 2000 and rereleased in the Spring European Council of 2005.

Stellwagen Bank National Marine Sanctuary final environmental impact statement/management plan / Sanctuaries and Reserves Division.

1

Stellwagen Bank National Marine Sanctuary final environmental impact statement/management plan / Sanctuaries and Reserves Division.

2

The role of central bank operating procedures in an economy with productive government spending

The choice of either the rate of monetary growth or the nominal interest rate as the instrument controlled by monetary authorities has both positive and normative implications for economic performance. We reexamine some of the issues related to the choice of the monetary policy instrument in a dynamic general equilibrium model exhibiting endogenous growth in which a fraction of productive government spending is financed by means of issuing currency. When we evaluate the performance of the two monetary instruments attending to the fluctuations of endogenous variables, we find that the inflation rate is less volatile under nominal interest rate targeting. Concerning the fluctuations of consumption and of the growth rate, both monetary policy instruments lead to statistically equivalent volatilities. Finally, we show that none of these two targeting procedures displays unambiguously higher welfare levels.

Memòria: estada a London South Bank University (Regne Unit)

Investigación producida a partir de una estancia en la London South Bank University, Reino Unido, entre los meses de setiembre y diciembre del 2005. Se estudia el trabajo sexual en el Reino Unido desde tres perspectivas diferentes. Por una parte, se trata la historia del feminismo anglosajón respecto a sus visiones sobre la prostitución, desde una aproximación a las fuentes. Por otra parte, se plantea la situación jurídico-política. Finalmente, se presenta brevemente a las principales entidades que dan apoyo al colectivo de trabajadoras del sexo en la ciudad de Londres.

On the Relationship between Market Power and Bank Risk Taking

We analyse risk-taking behaviour of banks in the context of spatial competition. Banks mobilise unsecured deposits by offering deposit rates, which they invest either in a prudent or a gambling asset. Limited liability along with high return of a successful gamble induce moral hazard at the bank level. We show that when the market power is low, banks invest in the gambling asset. On the other hand, for sufficiently high levels of market power, all banks choose the prudent asset to invest in. We further show that a merger of two neighboring banks increases the likelihood of prudent behaviour. Finally, introduction of a deposit insurance scheme exacerbates banks’ moral hazard problem.

Official Central Bank Interventions in the Foreign Exchange Markets: A DCC Approach with Exogenous Variables

This paper assesses the impact of official central bank interventions (CBIs) on exchange rate returns, their volatility and bilateral correlations. By exploiting the recent publication of intervention data by the Bank of England, this study is able to investigate fficial interventions by a total number of four central banks, while the previous studies have been limited to three (the Federal Reserve, Bundesbank and Bank of Japan). The results of the existing literature are reappraised and refined. In particular, unilateral CBI is found to be more successful than coordinated CBI. The likely implications of these findings are then discussed.

The Signalling Channel of Central Bank Interventions: Modelling the Yen/US Dollar Exchange Rate

This paper presents a theoretical framework analysing the signalling channel of exchange rate interventions as an informational trigger. We develop an implicit target zone framework with learning in order to model the signalling channel. The theoretical premise of the model is that interventions convey signals that communicate information about the exchange rate objectives of central bank. The model is used to analyse the impact of Japanese FX interventions during the period 1999 -2011 on the yen/US dollar dynamics.