Legal enforcement, collateral and heterogeneity of project financing contracts

This paper employs mechanism design to study the effects of imperfect legal enforcement on optimal scale of projects, borrowing interest rates and the probability of default. The analysis departs from an environment that combines asymmetric information about cash flows and limited commitment by borrowers. Incentive for repayment comes from the possibility of liquidation of projects by a court, but courts are costly and may fail to liquidate. The value of liquidated assets can be used as collateral: it is transferred to the lender when courts liquidate. Examples reveal that costly use of courts may be optimal, which contrasts with results from most limited commitment models, where punishments are just threats, never applied in optimal arrangements. I show that when voluntary liquidation is allowed, both asymmetric information and uncertainty about courts are necessary conditions for legal punishments ever to be applied. Numerical solutions for several parametric specifications are presented, allowing for heterogeneity on initial wealth and variability of project returns. In all such solutions, wealthier individuals borrow with lower interest rates and run higher scale enterprises, which is consistent with stylized facts. The reliability of courts has a consistently positive effect on the scale of projects. However its effect on interest rates is subtler and depends essentially on the degree of curvature of the production function. Numerical results also show that the possibility of collateral seizing allows comovements of the interest rates and the probability of repayment.

Turnout and quorum in referenda

We analyse the effect of turnout requirement in referenda in the context of a group turnout model. We show that a participation quorum requirement may reduce the turnout so severely that it generates a "quorum paradox": in equilibrium, the expected turnout exceds the participation quorum only if this requirement is not imposed. Moreover, a participation quorum does not necessarily imply a bias for the status quo. We also show that in order to induce a given expected turnout, the quorum should be set at a level that is lower than half tha target, and the effect of a participation quorum on welfare is ambiguous. On the one hand, the quorum decreases voters' welfare by misrepresenting the will of the majority. On the other hand, it might also reduce the total cost of voting. Finally, we show that an approval quorum is essentially equivalent to a participation quorum.

The spenders-hoarders theory of capital accumulations, wealth distribution and fiscal policy

This paper proposes a simple OLG model which is consistent with the essential facts about consumer behavior, capital accumulation and wealth distribution, and yields some new and surprising conclusions about fiscal policy. By considering a society in which individuais are distinguished according to two characteristics, altruism and wealth preference, we show that those who in the long run hold the bulk of private capital are not so rnuch motivated by dynastic altruism as by preference for wealth. Two types of social segmentation can result with different wcalth distribution. To a large extcnt our results seem to fit reality better than those obtained with standard optimal growth models in which dynastic altruism ( or r ate o f impatience) is the only source of heterogeneity: overaccumulation can appear, public debt and unfunded pensions are not neutra!, estate taxation can improve the welfare of the top wealthy.

Asymmetric auctions and risk aversion within independent private valoues

We study tournaments with many ex-ante asymmetric (heterogeneous) contestants as an independent-private-values all-pay auction. The asymmetry is either with respect to the distribution of valuations for the prize or the risk preferences. By characterizing equilibria in tnonotone strategies we show that tournaments \:vith man~y heterogenous contestants are qualitatively distinct. First, with two (or many ex-ante identical) participants, a contestant always exerts some effort with positive probability. In contrast, with many asymmetric participants, one 1night not exert any effort at all, even if there is a positive probability that he has the highest valuation among ali. Second, in tournan1ents with t'wo (o r n1any ex-ante h01nogenous) contestants, equilibrium effort densities are decreasing. This prediction is at odds with experimental evidence that shows the empírica! density might be increasing at high effort levels. V\.lith rnany heterogeneous contestants, however. the increasing bid density is consistent with an equilibrium behavior.

Welfare cost of inflation considering adoption decisions and interest-bearing deposits

Attanasio et al. (JPE, 2002) have used microeconomic data on households to provide new estimates of the welfare costs of infiation using Bailey's unidimensional welfare measure as a basis for their calculations. Such a measure does not properly take into consideration lhe fact that the majority of households in their sample (58.7 percent) holds not only bank deposits and currency, but also a second type of interest-bearing assct. This work devises alternative formulas which account for the existence of bank deposits and a sccond interest-bearing asset in the economy, as well as for adoption decisions regarding alternative financiai technologies.

Inclusão de alunos com deficiência no ensino superior: ações no contexto da Universidade Federal do Rio Grande do Norte

Aborda a educação inclusiva no âmbito da Universidade Federal do Rio Grande do Norte (UFRN), com vistas às ações estruturantes para alunos com deficiência, no período de 2001 a 2007. O seu objetivo principal é situar as ações que foram desenvolvidas por essa universidade e, ainda, as que estão em andamento e que privilegiam o acesso e a qualidade do ensino, particularmente, a esses alunos. Este estudo caracteriza-se também por uma abordagem qualitativa e exploratória, por meio do qual empregou-se a análise documental. Os primeiros resultados apontam para ações de diversas naturezas, tais como: criação de uma comissão para elaborar diretrizes gerais e propor ações acadêmicas para a educação especial; realização de Seminários de Educação Inclusiva; criação do ‘espaço inclusivo” na biblioteca central; adequação e construção de ambientes acessíveis; aprovação de projeto no Programa Incluir, dentre outras. Portanto, a partir dessas ações a UFRN demonstra ser fiel aos princípios que norteiam a construção de um sistema educacional democrático e inclusivo, ao buscar garantir a qualidade da oferta e do acesso aos seus cursos, respeitando a diversidade de todos os que nela ingressam

Caracterização socio-econômico-cultural de raizeiros e procedimentos pós-colheita de plantas medicinais comercializadas em Maceió, AL

ARAUJO, Afranio Cesar de et al. Caracterização socio-econômico-cultural de raizeiros e procedimentos pós-colheita de plantas medicinais comercializadas em Maceió, AL. Rev. Bras. Pl. Med, Botucatu, v. 11, n. 01, p.81-91, 2009. Disponível em: . Acesso em: 04 out. 2010.

Qualidade de vida do servidor da Universidade Federal do Rio Grande do Norte em condição crônica de saúde

The study aimed to analyze the influence of chronic health conditions (CHC) on quality of life (QOL) of UFRN servers assaulted by CHC. It is a descriptive and cross-sectional study with prospective data and quantitative approach, accomplished in the ambulatory clinic of the Department of Server Assistance (DSA) of the Pro-Rectory of Human Resources, during three months. The sample was composed by accessibility, totaling 215 people, being 153 active and 62 inactive servers, in chronic health condition. The data were collected through the application of the sociodemographic characterization, health, environmental and laboral form, the Medical Outcome Study 36-Item Short Form (SF-36). The study was evaluated by the HUOL Ethics Committee (CAAE no. 0046.0.294.000.10), obtaining assent. The results were analyzed in the SPSS 15.0 program through the descriptive and inferential statistics. It was identified servants predominantly male (59,1%), under 60 years old, married or in stable union, Catholics, brown color, living in the capital and residents in own home. Regarding labor issues, there was a predominance of active servers technical-administrative with intermediate and medium level positions and small proportion of docents. Among the CHC, the non-communicable diseases - NCDs (95.8%) had a higher frequency, followed by persistent mental disorders - PMDs (18.6%) and, finally, the continuous and structural physical deficiency - CSPD (16.9 %). The QOL of servers was considered good, with a mean score of 72.5 points in the total score, with the most affected domains: physical (59.1), general health (66.2), bodily pain (66.3) and functional aspects (72.0). The mental health dimension (76.5) had a better average than the physical dimension (68.0 points). It was found that the decrease in QOL scores is significant statistically related to higher number of CHC (ρ <0.001), with no statistical significance regarding the functional situation (p = 0.259). The administrative technicians of elementary, primary, secondary levels and docents had the worst QOL scores. After the correlation analysis of CHC with the domains and dimensions of the SF-36, there was statistically significant, negative and weak correlation of the domains: functional aspect (ρ = 0.002, r = -0.207), physical aspects (ρ = 0.007; r = -0.183), vitality (ρ = 0.002, r = -0.213), social function (ρ = 0.000, r = -0.313), emotional aspects (ρ = 0.000, r = -0.293), mental health (ρ = 0.000 , r = -0.238), physical health dimension (ρ = 0.002, r = -0.210) and mental health dimension (ρ = 0.000, r = -0.298). The presence of PMD isolated or together, contributed to a lower SF-36 scores, being the domains variation of mean significant, except for bodily pain, general health and physical aspects. By correlating the categories of CHC and QOL, there was a weak correlation (r ≤ -0.376) and significant (ρ ≤ 0.011), mainly related to the NCD, PMDs and NCD + PMD, affecting the mental health, social function, emotional aspects, vitality and functional aspect domains. Front of the results, it was concludes that the servers quality of life is influenced by the CHC. Thus, it was inferred that the presence of CHC causes a negative effect on quality of life, leading the active and inactive servers to exposure their overall life activities and work over the years, due to the morbidity affected, mainly related to NCDs and PMDs. Descriptors: Quality of life. Chronic disease. Occupational Health. Nursing

Fé & Cia. LTDA: consumo religioso na sociedade contemporânea

The present work is an exercise of analysis from the cultural exercises related to movie high one of its raised status more with the deity, the human being surrenders it Religion leaving puzzleds the prophets of its end. The purpose of this work is to show that the religious phenomenon is one of the essential components of the socialization human being. The religious dimension, although to have been kept out of society in modernity - it was cybernetics, is an indispensable compassing to guide the human being in the discovery of its true existencial direction. For this, to attenuate the legacy without appropriate title, overwhelming and despairing of the producing and consumer goods society, it is indispensable to add as basic part to the practical one of the religion. And this practice is specify at the acquirement as of commodities objects , than it is to they are consecrate, exercising um magical power under the assistants from the religion. The fair religious Expo Religious, like the Expo Crest (fair as of commodities and service of the Evangelist) and the one Expo Catholic (fair as of commodities and service of the Catholics), appears at the I initiate from the century 21 at the association Brazilian about to cater the litigation of the market religious at every their segments. The and objective of this research is bring forward those two fairs in the format as of Expo and your contribution at the dynamic from the religion crest at the association he acts

Narrativas de Formação de Professoras dos Anos Iniciais do Ensino Fundamental:Concepções e Construções de Necessidades Formativas na Geografia Escolar

This article is about a study about the training needs for teachers of elementary school in the field of Geography. It is our objective to grasp their conceptions of training needs and reflect about their formative needs to teach geography. We consider the training as reflective process that involves the movement of changes and improvement beyond of formal learning, considering its numerous dimensions. We reflected about formative needs in light of the readings of Rodrigues Esteves (1993), Silva (2000), Roberts (2006), Vieira (2010). The discussions about conceptions were based on Ferreira (2007). The empirical reference constitutes to a private school in the city of Ceará-Mirim/RN, SECAT Centro de Ensino. The social subjects of our research are five teachers who work in the initial years of elementary school. We resorted a survey (auto) biographical, based on the studies of Passeggi (2011), Delory (2008), Bertaux (2010) e Josso (2010), since it is our intention to turn to the historicity of the subject and the learning, recognizing the links between him and the world and the experiences based on for learning and adult training. As technical and methodological procedure we will use the Training Narratives, whose application allows the understanding of memories and stories of schooling teachers, since are reported events occurred during the development of the individual through seminars Biographical. We observed on the narratives constructed by the teachers the absence assignments of meanings to a reworking of the theoretical formative needs and questions of its organizing principles. However, we notice the teachers were able to develop senses and means to conceive the phenomenon in study, in a descriptive way, through articulated enunciations, including aspects and opportunities linked to their teaching practices and future formative prospects. Regarding School Geography, we based our studies in the reflections of Smith Junior (1994, 2000), Tonini (2003), Vesentini (2004) and Vlach (1991), among others. We verified that the needs evidenced by the teachers to teach geography were constructed from the contexts of their teaching practices present in their school and professional trajectories. Therefore, we noticed the need for formal pedagogical qualification so that we can conceive the phenomenon in study beyond its descriptive character, understanding that it is necessary to point out reflections and questions about the dynamics of production of global capital, which conveys its interests in the contexts that often emerge formative needs of the educational system

Um estudo sobre a relação entre matemática e religião na obra de Blaise Pascal

The aim of the present study is to investigate the way through which the relations between Mathematics and Religion emerge in the work of Blaise Pascal. This research is justified by the need to deepen these relations, so far little explored if compared to intersection points between Mathematics and other fields of knowledge. The choice for Pascal is given by the fact that he was one of the mathematicians who elaborated best one reflection in the religious field thus provoking contradictory reactions. As a methodology, it is a bibliographical and documental research with analytical-comparative reading of referential texts, among them the Oeuvres complètes de Pascal (1954), Le fonds pascalien à Clermont-Ferrand (2001), Mathematics in a postmodern age: a cristian perspective by Howell & Bradley (2001), Mathematics and the divine: a historical study by Koetsier & Bergmans (2005), the Anais dos Seminários Nacionais de História da Matemática and the Revista Brasileira de História da Matemática. The research involving Pascal's life as a mathematician and his religious experience was made. A wider background in which the subject matter emerges was also researched. Seven categories connected to the relation between mathematics and religion were identified from the reading of texts written by mathematicians and historians of mathematics. As a conclusion, the presence of four of these seven categories was verified in Pascal's work

A Formação de Padres no Nordeste do Brasil (1894-1933)

The Nossa Senhora da Conceição Seminary, installed in 1894, by Dom Adauto Aurélio de Miranda Henriques, first Paraíba Bishop, and the Episcopal Seminary of the Sagrado Coração de Jesus, implanted in 1913, by Dom José Thomas Gomes da Silva, first Aracaju s Bishop diocese, were created as a result of lack of an official religious process proposed by the Brazilian Republic Proclamation, in 1889. With the appoint to enlarge the number of priests and change the image of the priest married and unrolled who used to identify the Catholic Church in the colonial and imperial Brazil. Such bishops developed into intellectuals in the government, dioceses and formation priest houses. I take as a study object, for this doctorate paper, the academic formation and priesthood developed in theses seminaries, from 1894 to 1933, once 1894 the year of João Pessoa Creation Seminar that was implied the Minor Course (preparation) and the Major one (built by Philosophy and God related studies) and the research limit year of 1933, is concerned about the Major Sergipe Seminary ending, which was created and has worked offering the Minor and Major courses, from 1913 to 1933. Showing the teaching models that guided and leaded the priest formation, referred as Seminaries, and the application result is the objective of this investigation. To comprehend the teaching models seminaries studied, my research line is the Catholic Church theme and priest formation in Brazil. In front of the object and the objective desired, I chose the historical comparative method and the scholars modals notions of Araujo de Barros (2004) and the Sirinelli intellectuals (1996). Such references allowed me to analyze the formation given in the seminary and seminarian participation and actions, included the sequence after the scholars formation. The thesis defended is that the teaching model developed in the Brazilian Seminaries, created after a non official religious process in the Brazilian government, deal with a model of one unique center (Seminary formation and aim pre arranged by Santa Sé), although adapted, presuming the local reality and formation structure (privileged not only spiritual and moral speaking, but intellectual also), was it responsible for intellectuals generations (teachers priests, educationalist priest, journalists priests and so on) that boost the education in Brazil. During the Republic first three decades, when, in thesis, the Government was becoming free religion, i.e., the government did not subsidize the Church anymore, and the Government, among others aspects, did not received any Church care to help the public teaching in the country. The investigation reveled accede, by bishops and their followers, such as by the Concílio de Trento pre concept, or by the others ideas, leading by the priests formation in Seminaries. By creating and stalling diocese Seminary, Bishop Dom Adauto and Dom José went further their functions, by the time they built inside themselves a teaching model thought from the main pedagogic logic, based on several religious exercises, moral and ethic, considered by themselves several knowledge connected to humanity, philosophy and God related studies). Following clearly rationalism principle (the way of teaching, which each subject has its own teacher and this class get together students with the same knowledge, regardless of age) and efficiency (trying to teach the whole content in each class), the Seminaries researched developed a whole education, allowed the structure of a spiritual education, moral and intellectual, for a quality developed by priests, including different levels that they used to performance. Their bottom line, actions and priest matter achievement allowed their broad fulfillment, in the way that priests matter were associated with cultural, educational, welfare assistance, at last, intellectuals

Proposta Curricular para Educação infantil: (re) significando saberes docentes

The theory contemporary in the field of early children education, as well the legal discourse and official texts valid in our country point to the need for systematization of proposals pedagogic / curriculum in institutions, built and carried out by subjects that act as factor of assurance care quality. Quest us about what knowledge are required to teachers in developing a proposed curriculum for children education. Defined as an object of study, the knowledge teachers necessary for the development of a proposed curriculum for children education. As goals, assume: investigate teachers knowledge necessary for the development of a proposed curriculum in a Public Institution for children education and contribute to the (new) meaning on the part of teachers, knowledge needed to build a proposed curriculum for children education. Assuming the principles of the paradigm of qualitative research, we have developed a research institution of a children education Network Public Hall of Ceará-Mirim-RN, which serves children of four and five years old (preschool) with the participation of 17 teachers and two supervisory (teachers) that institution - subject of our research. Therefore, we have adopted the principles of action research, according to which the knowledge gained through research should build so shared / dialogue in the relationship between researcher and participants, what is the implementation of an effective action formative. As the search procedures developed observations no-teaching participants in the meetings and activities of the classroom; semi-structured interviews (individual and collective) with teachers and supervisors; analysis of school documents and participant observation in the seminars of studies reflective. The latter is implemented as key moments of speech and thought, and finally to (new) meaning of knowledge, the subject of the research-action. For these knowledge, the systematization of the register built was developed based on the principles of analysis of Content that guided us to the definition of two categories 1) knowledge teachers concerning conceptions of curriculum / proposed curriculum and 2) knowledge teachers concerning specifics of children education. From these were built subs representing thematings more specific and significant, among the many that emerged in the analysis: 1.1) Definitions of curriculum and curriculum proposal; 1.2) The subjects makers / implementing a curriculum / proposed curriculum; 1.3) elements constituting a curriculum / proposed curriculum for children education and 2.1) Functions of children education and conception of child; 2.2) The space of the play in the organization of routine. Under the intervention could significant advances with regard to (new) meaning of such knowledge from the subjects, with major disruptions to their original designs. These are presented and reflected in this work. In front of this movement, transformation, made the need for a permanent work in the context of the institution of in-service training, or mediated by pedagogical coordinator or other to assume this role with teachers, in order to provide the development and effectiveness of proposed curriculum consistent and contextualized in practice effective with the children concrete envisage the service to their specificities and a quality education