The optimum quantity of money: Theory and evidence

In this paper we propose a simple and general model for computing the Ramsey optimal inflation tax, which includes several models from the previous literature as special cases. We show that it cannot be claimed that the Friedman rule is always optimal (or always non--optimal) on theoretical grounds. The Friedman rule is optimal or not, depending on conditions related to the shape of various relevant functions. One contribution of this paper is to relate these conditions to {\it measurable} variables such as the interest rate or the consumption elasticity of money demand. We find that it tends to be optimal to tax money when there are economies of scale in the demand for money (the scale elasticity is smaller than one) and/or when money is required for the payment of consumption or wage taxes. We find that it tends to be optimal to tax money more heavily when the interest elasticity of money demand is small. We present empirical evidence on the parameters that determine the optimal inflation tax. Calibrating the model to a variety of empirical studies yields a optimal nominal interest rate of less than 1\%/year, although that finding is sensitive to the calibration.

Relative price riddles in international business cycle theory: Are transport costs the explanation?

We study relative price behavior in an international business cyclemodel with specialization in production, in which a goods marketfriction is introduced through transport costs. The transporttechnology allows for flexible transport costs. We analyze whetherthis extension can account for the striking differences betweentheory and data as far as the moments of terms of trade and realexchange rates are concerned. We find that transport costs increaseboth the volatility of the terms of trade and the volatility of thereal exchange rate. However, unless the transport technology isspecified by a Leontief technology, transport costs do not resolvethe quantitative discrepancies between theory and data. Asurprising result is that transport costs may actually lower thepersistence of the real exchange rate, a finding that is in contrastto much of the emphasis of the empirical literature.

The place preference task: a new tool for studying the relation between behavior and place cell activity in rats

This study describes a task that combines random searching with goal directed navigation. The testing was conducted on a circular elevated open field (80 cm in diameter), with an unmarked target area (20 cm in diameter) in the center of 1 of the 4 quadrants. Whenever the rat entered the target area, the computerized tracking system released a pellet to a random point on the open field. Rats were able to learn the task under light and in total darkness, and on a stable or a rotating arena. Visual information was important in light, but idiothetic information became crucial in darkness. Learning of a new position was quicker under light than in total darkness on a rotating arena. The place preference task should make it possible to study place cells (PCs) when the rats use an allothetic (room frame) or idiothetic (arena frame) representation of space and to compare the behavioral response with the PCs' activity.

Social security in theory and practice (II): Efficiency theories, narrative theories and implications for reform

166 countries have some kind of public old age pension. What economic forcescreate and sustain old age Social Security as a public program? Mulligan and Sala-i-Martin (1999b) document several of the internationally and historically common features of social security programs, and explore "political" theories of Social Security. This paper discusses the "efficiency theories", which view creation of the SS program as a full of partial solution to some market failure. Efficiency explanations of social security include the "SS as welfare for the elderly" the "retirement increases productivity to optimally manage human capital externalities", "optimal retirement insurance", the "prodigal father problem", the "misguided Keynesian", the "optimal longevity insurance", the "governmenteconomizing transaction costs", and the "return on human capital investment". We also analyze four "narrative" theories of social security: the "chain letter theory", the "lump of labor theory", the "monopoly capitalism theory", and the "Sub-but-Nearly-Optimal policy response to private pensions theory".The political and efficiency explanations are compared with the international and historical facts and used to derive implications for replacing the typical pay-as-you-go system with a forced savings plan. Most of the explanations suggest that forced savings does not increase welfare, and may decrease it.

My older sibling was drunk - younger siblings' drunkenness in relation to parental monitoring and the parent-adolescent relationship.

This study explored the links between having older siblings who get drunk, satisfaction with the parent-adolescent relationship, parental monitoring, and adolescents' risky drinking. Regression models were conducted based on a national representative sample of 3725 8th to 10th graders in Switzerland (mean age 15.0, SD = .93) who indicated having older siblings. Results showed that both parental factors and older siblings' drinking behaviour shape younger siblings' frequency of risky drinking. Parental monitoring showed a linear dose-response relationship, and siblings' influence had an additive effect. There was a non-linear interaction effect between parent-adolescent relationship and older sibling's drunkenness. The findings suggest that, apart from avoiding an increasingly unsatisfactory relationship with their children, parental monitoring appears to be important in preventing risky drinking by their younger children, even if the older sibling drinks in such a way. However, a satisfying relationship with parents does not seem to be sufficient to counterbalance older siblings' influence.

Horizontal innovation in the theory of growth and development

We analyze recent contributions to growth theory based on the model of expanding variety of Romer (1990). In the first part, we present different versions of the benchmark linear model with imperfect competition. These include the labequipment model, labor-for-intermediates and directed technical change . We review applications of the expanding variety framework to the analysis of international technology diffusion, trade, cross-country productivity differences, financial development and fluctuations. In many such applications, a key role is played by complementarities in the process of innovation.

A Gestão da Qualidade do Serviço Hoteleiro em Cabo Verde: Estruturação de Processos

O trabalho que aqui propomos foi desenvolvido numa perspectiva sociológica, procurando à luz da teoria de estruturação de Giddens analisar a estruturação de um serviço para a qualidade nos hotéis, partindo das perspectivas dos agentes internos. O que ambicionamos com esta tese é analisar a produção do serviço hoteleiro enquanto sistema constituída por práticas recíprocas entre agentes, sujeitos a regras, recursos, constrangimentos e oportunidades. Na óptica que seguimos, a estruturação para um serviço da qualidade depende das regras e recursos mobilizadas e permitidas no decorrer de práticas situadas de agentes intencionados. As estruturas do sistema da qualidade, como nós as entendemos aqui, à luz da dualidade da estrutura, reproduzem-se e participam na produção de novas estruturas e, recursivamente, organizam as práticas e os modos de fazer. Através da significação, legitimação e dominação, dimensões nas quais se desenvolvem os processos sociais de construção dos sistemas da qualidade, procuramos compreender o processo de estruturação de um serviço de qualidade nos hotéis. É com este olhar, que analisamos a estruturação da qualidade nas organizações. Mais do que o aspecto da qualidade enquanto disciplina da gestão, interessa-nos o aspecto da qualidade enquanto resultado de definições sociais construídas e partilhadas através das práticas quotidianas, onde se dá a negociação de significados e atribuição de sentidos às nossas actividades. Interessa-nos analisar a estruturação de um serviço para a qualidade, numa organização, através do estudo das práticas, rotinas, processos, expedientes e racionalidades na relação diária entre os agentes no seio dos hotéis. Analisamos o sistema da qualidade enquanto sistema social envolvendo actividades de sujeitos humanos, localizados no espaço e no tempo (Giddens, 2000). Através da dualidade da estrutura, em que os agentes são possuidores de regras e recursos que durante e através das suas actividades reproduzem e criam as condições para tornarem as mesmas possíveis (Giddens, 1999), procuramos entender a prestação dos serviços. Desta forma analisamos o funcionamento das interacções diárias e das suas regras enquanto meio e produto do sistema da qualidade.

Contracting externalities and multiple equilibria in sectors: Theory and evidence

We consider an economy where the production technology has constantreturns to scale but where in the descentralized equilibrium thereare aggregate increasing returns to scale. The result follows froma positive contracting externality among firms. If a firms issurrounded by more firms, employees have more opportunitiesoutside their own firm. This improves employees' incentives toinvest in the presence of ex post renegotiation at the firm level,at not cost. Our leading result is that if a region is sparselypopulated or if the degree of development in the region is lowenough, there are multiple equilibria in the level of sectorialemployment. From the theoretical model we derive a non-linearfirst-order censored difference equation for sectoral employment.Our results are strongly consistent with the multiple equilibriahypothesis and the existence of a sectoral critical scale (belowwich the sector follows a delocation process). The scale of theregions' population and the degree of development reduce thecritical scale of the sector.

Aprendizagens em contexto de formação inicial: um estudo com futuros professores de ciências em Cabo Verde

O estudo faz parte de um projecto mais amplo, desenvolvido no âmbito do Grupo ESSA (Estudos Sociológicos em Sala de Aula), centrado na formação inicial de professores de ciências. Neste estudo partiu-se do seguinte problema: Que prática(s) pedagógica(s) é(são) implementada(s) na formação inicial de professores de ciências em Cabo Verde e de que forma essa(s) prática(s) se reflecte(m) na aprendizagem e intervenção pedagógica dos formandos? Teoricamente, o estudo baseia-se, em termos sociológicos, no modelo do discurso pedagógico de Bernstein (Bernstein, 2000). Em termos psicológicos, baseia-se nas ideias de Vygotsky (1978) e, na sua vertente epistemológica, na conceptualização de Ziman (1984) sobre a construção da ciência. Metodologicamente, o estudo enquadra-se numa abordagem de investigação mista. Com base numa dialéctica entre o teórico e o empírico, construíram-se instrumentos para caracterizar o contexto de formação inicial e a prática em sala de aula, e um guião de entrevista para apreciar as aprendizagens dos formandos. A investigação envolveu uma formadora e formandos de uma disciplina da área da Metodologia da Biologia de uma Escola Superior de Educação. Os resultados mostraram que o contexto específico de formação se caracterizou, em particular, pela desvalorização do trabalho experimental e da relação entre ciência e metaciência, por um baixo nível de exigência conceptual, por uma fraca articulação entre os conhecimentos e por um grau muito baixo de explicitação do texto a ser adquirido pelos formandos. Revelaram também que a formação pouco contribuiu para a aprendizagem e intervenção pedagógica dos formandos, isto é, para a aquisição da orientação específica de codificação (regras de reconhecimento e de realização) para características relacionadas com o que e com o como do ensino/aprendizagem das ciências. O estudo pretende contribuir com sugestões sobre a inclusão de características pedagógicas da aprendizagem científica na formação inicial de professores de ciências em Cabo Verde e permite reflectir sobre a importância da utilização de instrumentos metodológicos que possibilitem uma análise comparativa entre contextos e textos presentes na formação de professores.

An economic theory of church strictness

This paper makes several contributions to the growing literatureon the economics of religion. First, we explicitly introduce spatial-location models into the economics of religion. Second, we offer a newexplanation for the observed tendency of state (monopoly) churches tolocate toward the "low-tension" end of the "strictness continuum" (ina one-dimensional product space): This result is obtained through theconjunction of "benevolent preferences" (denominations care about theaggregate utility of members) and asymmetric costs of going to a moreor less strict church than one prefers.We also derive implications regarding the relationship between religiousstrictness and membership. The driving forces of our analysis, religiousmarket interactions and asymmetric costs of membership, high-light newexplanations for some well-established stylized facts. The analysis opensthe way to new empirical tests, aimed at confronting the implications ofour model against more traditional explanations.

A theory of international conflict management and sanctioning

In this paper we analyze sanctioning policies in international law. We develop a model of international military conflict where the conflicting countries can be a target of international sanctions. These sanctions constitute an equilibrium outcome of an international political market for sanctions, where different countries trade political influence. We show that the level of sanctions in equilibrium is strictly positive but limited, in the sense that higher sanctions would exacerbate the military conflict, not reduce it. We then propose an alternative interpretation to the perceived lack of effectiveness of international sanctions, by showing that the problem might not be one of undersanctioning but of oversanctioning.

Wh-constructions in cape verdean creole: extensions of the copy theory of movement

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