990 resultados para On-the-run
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Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)
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Includes bibliography
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In this study, an attempt is made to assess the economic impact of climate change on nine countries in the Caribbean basin: Aruba, Barbados, Dominican Republic, Guyana, Jamaica, Montserrat, Netherlands Antilles, Saint Lucia and Trinidad and Tobago. A methodological approach proposed by Dell et al. (2008) is used in preference to the traditional Integrated Assessment Models. The evolution of climate variables and of the macroeconomy of each of the nine countries over the period 1970 to 2006 is analyzed and preliminary evidence of a relationship between the macroeconomy and climate change is examined. The preliminary investigation uses correlation, Granger causality and simple regression methods. The preliminary evidence suggests that there is some relationship but that the direction of causation between the macroeconomy and the climate variables is indeterminate. The main analysis involves the use of a panel data (random effects) model which fits the historical data (1971-2007) very well. Projections of economic growth from 2008 to 2099 are done on the basis of four climate scenarios: the International Panel on Climate Change A2, B2, a hybrid A2B2 (the mid-point of A2 and B2), and a ‘baseline’ or ‘Business as Usual’ scenario, which assumes that the growth rate in the period 2008-2099 is the same as the average growth rate over the period 1971-2007. The best average growth rate is under the B2 scenario, followed by the hybrid A2B2 and A2 scenarios, in that order. Although negative growth rates eventually dominate, they are largely positive for a long time. The projections all display long-run secular decline in growth rates notwithstanding short-run upward trends, including some very sharp ones, moving eventually from declining positive rates to negative ones. The costs associated with the various scenarios are all quite high, rising to as high as a present value (2007 base year) of US$14 billion in 2099 (constant 1990 prices) for the B2 scenario and US$21 billion for the BAU scenario. These costs were calculated on the basis of very conservative estimates of the cost of environmental degradation. Mitigation and adaptation costs are likely to be quite high though a small fraction of projected total investment costs.
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The energy sector is a dominant one in Trinidad and Tobago and it plays an important role in the twin-island republic‟s economy. In 2008, the share of the energy sector in gross domestic product (GDP) amounted to approximately 48% while contributing 57% to total Government revenue. In that same year, the sector‟s share of merchandise exports was 88%, made up mainly of refined oil products including petroleum, liquefied natural gas (LNG), and natural gas liquids (Central Bank of Trinidad and Tobago, 2009). Trinidad and Tobago is the main exporter of oil in the Caribbean region and the main producer of liquefied natural gas in Latin America and the Caribbean. The role of the country‟s energy sector is, therefore, not limited to serving as the engine of growth for the national economy but also includes providing energy security for the small island developing States of the Caribbean. However, with its hydrocarbon-based economy, Trinidad and Tobago is ranked seventh in the world in terms of carbon dioxide (CO2) emissions per capita, producing an estimated 40 million tonnes of CO2 annually. Almost 90% of these CO2 emissions are attributed directly to the energy sector through petrochemical production (56%), power generation (30%) and flaring (3%). Trinidad and Tobago is a ratified signatory to the United Nations Framework Convention on Climate Change and the Kyoto Protocol. Although, as a non-Annex 1 country, Trinidad and Tobago is not required to cut its greenhouse gas emissions under the Protocol, it is currently finalizing a climate change policy document as well as a national energy policy with specific strategies to address climate change. The present study complements the climate change policy document by providing an economic analysis of the impact that climate change could have on the energy sector in Trinidad and Tobago under the Intergovernmental Panel on Climate Change alternative climate scenarios (A2 and B2) as compared to a baseline situation of no climate change. Results of analyses indicate that, in the short-run, climate change, represented by change in temperature, is not a significant determinant of domestic consumption of energy, electricity in particular, in Trinidad and Tobago. With energy prices subsidized domestically and fixed for years at a time, energy price does not play a role in determining electricity demand. Economic growth, as indicated by Gross Domestic Product (GDP), is the single major determinant of electricity consumption in the short-run. In the long-run, temperature, GDP, and patterns of electricity use, jointly determine electricity consumption. Variations in average annual temperature due to climate change for the A2 scenario are expected to lead to an increase in electricity consumption per capita, equivalent to an annual increase of 1.07% over the 2011 baseline value of electricity consumption per capita. Under the B2 scenario, the average annual increase in electricity consumption per capita over the 2011 baseline value is expected to be 1.01%. The estimated economic impact of climate change on electricity consumption for the period 2011-2050 is valued at US$ 142.88 million under the A2 scenario and US$ 134.83million under the B2 scenario. These economic impact estimates are equivalent to a loss of 0.737% of 2009 GDP under the A2 climate scenario and a loss of 0.695% of 2009 GDP under the B2 scenario. On the energy supply side, sea level rise and storm surges present significant risks to oil installations and infrastructure at the Petroleum Company of Trinidad and Tobago (PETROTRIN) Pointe-a-Pierre facilities (Singh and El Fouladi, 2006). However, data limitations do not permit the conduct of an economic analysis of the impact of projected sea level rise on oil and gas production.
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The aim of this study was to compare the speed and the agility between Brazilian soccer players and non-players, regarding maturity status in adolescents 11-15 years old. Forty and two soccer players (age – 159.30±17.28 months old; weight – 48.45±9.96 kg; height – 1.53±0.10 m) and 45 non-players (age – 162.62±24.92 months old; weight – 48.30±8.35 kg; height – 1.54±0.12 m) participated of this study. Participants were classified by maturity status. On 2 different days with 1 week of differences between the assessments the participants were evaluated the agility, by Shuttle Run test, and the speed, by 30 m maximum speed test. The results showed that the maturity status was an influential factor in the performance with better results for individuals in a more advanced stage. The soccer practice does not seem to interfere in the performance of the physical capacity components analyzed, only effective when different maturity levels are involved in the analysis. It is also possible that late maturing boys selectively drop-out of soccer as age and sport specialization increase.
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A study was carried out into the use of charcoal as a supplementary fuel in the iron-ore sintering process. The primary fuel was coke breeze and anthracite with 0, 10, 25, 50 and 100% replacement of the energy input with charcoal to produce sinter. This was achieved by considering the carbon content of each fuel and its corresponding participation on fuel blending, in order to have the same carbon input in each test run. An extensive analysis of the environmental impact was carried out regarding the atmospheric pollutants characterization (dust, sulphur dioxide, nitrogen oxides, carbon monoxide, carbon dioxide, methane, total hydrocarbons, and dioxins and furans). Experimental results indicate that fuel blending where 50% of the heat input was provided by charcoal may be comparable with those using 100% coke, under normal sintering conditions, and may result in a 50% reduction on greenhouse gas emission. It was also observed that while dust, methane and hydrocarbons emissions increased, the total dioxins and furans, expressed as polychlorinated dibenzodioxins/furans, decreased approximately 50% when compared with operation with 100% coke.
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Two roadside surveys were conducted for dwarf mistletoes parasitizing lodgepole pine and Douglas-fir on the Sawtooth National Forest, Idaho. One survey used variable-radius plots located less than 150 m from roads. The 2nd survey used variable-radius plots established at 200-m intervals along 1600-m transects run perpendicular to the same roads. Estimates of the incidence (percentage of trees infected and percentage of plots infested) and severity (average dwarf mistletoe rating) for both lodgepole pine and Douglas-fir dwarf mistletoes were not significantly different for the 2 survey methods. These findings are further evidence that roadside-plot surveys and transect-plot surveys conducted away from roads provide similar estimates of the incidence of dwarf mistletoes for large forested areas.
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Although exercise increases HDL-cholesterol, exercise-induced changes in HDL metabolism have been little explored. Lipid transfer to HDL is essential for HDL's role in reverse cholesterol transport. We investigated the effects of acute exhaustive exercise on lipid transfer to HDL. We compared plasma lipid, apolipoprotein and cytokine levels and in vitro transfer of four lipids from a radioactively labeled lipid donor nanoemulsion to HDL in sedentary individuals (n = 28) and in marathon runners (n = 14) at baseline, immediately after and 72 h after a marathon. While HDL-cholesterol concentrations and apo A1 levels were higher in marathon runners, LDL-cholesterol, apo B and triacylglycerol levels were similar in both groups. Transfers of non-esterified cholesterol [6.8 (5.7-7.2) vs. 5.2 (4.5-6), p = 0.001], phospholipids [21.7 (20.4-22.2) vs. 8.2 (7.7-8.9), p = 0.0001] and triacylglycerol [3.7 (3.1-4) vs. 1.3 (0.8-1.7), p = 0.0001] were higher in marathon runners, but esterified-cholesterol transfer was similar. Immediately after the marathon, LDL- and HDL-cholesterol concentrations and apo A1 levels were unchanged, but apo B and triacylglycerol levels increased. Lipid transfer of non-esterified cholesterol [6.8 (5.7-7.2) vs. 5.8 (4.9-6.6), p = 0.0001], phospholipids [21.7 (20.4-22.2) vs. 19.1 (18.6-19.3), p = 0.0001], esterified-cholesterol [3.2 (2.2-3.8) vs. 2.3 (2-2.9), p = 0.02] and triacylglycerol [3.7 (3.1-4) vs. 2.6 (2.1-2.8), p = 0.0001] to HDL were all reduced immediately after the marathon but returned to baseline 72 h later. Running a marathon increased IL-6 and TNF-alpha levels, but after 72 h these values returned to baseline. Lipid transfer, except esterified-cholesterol transfer, was higher in marathon runners than in sedentary individuals, but the marathon itself acutely inhibited lipid transfer. In light of these novel observations, further study is required to clarify how these metabolic changes can influence HDL composition and anti-atherogenic function.
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This dissertation analyzes the effect of market analysts’ expectations of share prices (price targets) on executive compensation. It examines how well the estimated effects of price targets on compensation fit with two competing views on determining executive compensation: the arm’s length bargaining model, which assumes that a board seeks to maximize shareholders’ interests, and the managerial power model, which assumes that a board seeks to maximize managers’ compensation (Bebchuk et al. 2005). The first chapter documents the pattern of CEO pay from fiscal year 1996 to 2010. The second chapter analyzes the Institutional Broker Estimate System Detail History Price Target data file, which that reports analysts’ price targets for firms. I show that the number of price target announcements is positively associated with company share price’s volatility, that price targets are predictive of changes in the value of stocks, and that when analysts announce positive (negative) expectations of future stock price, share prices change in the same direction in the short run. The third chapter analyzes the effect of price targets on executive compensation. I find that analysts' price targets alter the composition of executive pay between cash-based compensation and stock-based compensation. When analysts forecast a rise (fall) in the share price for a firm, the compensation package tilts toward stock-based (cash-based) compensation. The substitution effect is stronger in companies that have weaker corporate governance. The fourth chapter explores the effect of the introduction of the Sarbanes-Oxley Act (SOX) in 2002 and its reinforcement in 2006 on the options granting process. I show that the introduction of SOX and its reinforcement eliminated the practice of backdating options but increased “spring-loading” of option grants around price targets announcements. Overall, the dissertation shows that price targets provide insights into the determinants of executive pay in favor of the managerial power model.
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This thesis is divided in three chapters. In the first chapter we analyse the results of the world forecasting experiment run by the Collaboratory for the Study of Earthquake Predictability (CSEP). We take the opportunity of this experiment to contribute to the definition of a more robust and reliable statistical procedure to evaluate earthquake forecasting models. We first present the models and the target earthquakes to be forecast. Then we explain the consistency and comparison tests that are used in CSEP experiments to evaluate the performance of the models. Introducing a methodology to create ensemble forecasting models, we show that models, when properly combined, are almost always better performing that any single model. In the second chapter we discuss in depth one of the basic features of PSHA: the declustering of the seismicity rates. We first introduce the Cornell-McGuire method for PSHA and we present the different motivations that stand behind the need of declustering seismic catalogs. Using a theorem of the modern probability (Le Cam's theorem) we show that the declustering is not necessary to obtain a Poissonian behaviour of the exceedances that is usually considered fundamental to transform exceedance rates in exceedance probabilities in the PSHA framework. We present a method to correct PSHA for declustering, building a more realistic PSHA. In the last chapter we explore the methods that are commonly used to take into account the epistemic uncertainty in PSHA. The most widely used method is the logic tree that stands at the basis of the most advanced seismic hazard maps. We illustrate the probabilistic structure of the logic tree, and then we show that this structure is not adequate to describe the epistemic uncertainty. We then propose a new probabilistic framework based on the ensemble modelling that properly accounts for epistemic uncertainties in PSHA.
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This dissertation mimics the Turkish college admission procedure. It started with the purpose to reduce the inefficiencies in Turkish market. For this purpose, we propose a mechanism under a new market structure; as we prefer to call, semi-centralization. In chapter 1, we give a brief summary of Matching Theory. We present the first examples in Matching history with the most general papers and mechanisms. In chapter 2, we propose our mechanism. In real life application, that is in Turkish university placements, the mechanism reduces the inefficiencies of the current system. The success of the mechanism depends on the preference profile. It is easy to show that under complete information the mechanism implements the full set of stable matchings for a given profile. In chapter 3, we refine our basic mechanism. The modification on the mechanism has a crucial effect on the results. The new mechanism is, as we call, a middle mechanism. In one of the subdomain, this mechanism coincides with the original basic mechanism. But, in the other partition, it gives the same results with Gale and Shapley's algorithm. In chapter 4, we apply our basic mechanism to well known Roommate Problem. Since the roommate problem is in one-sided game patern, firstly we propose an auxiliary function to convert the game semi centralized two-sided game, because our basic mechanism is designed for this framework. We show that this process is succesful in finding a stable matching in the existence of stability. We also show that our mechanism easily and simply tells us if a profile lacks of stability by using purified orderings. Finally, we show a method to find all the stable matching in the existence of multi stability. The method is simply to run the mechanism for all of the top agents in the social preference.
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This article details the American experience of welfare reform, and specifically its experience instituting workfare programs for participants. In the United States, the term "welfare" is most commonly used to refer to the program for single mothers and their families, formerly called Aid to Families with Dependent Children (AFDC) and now, Temporary Assistance to Needy Families (TANF). In 1996, politicians "ended welfare as we know it" by fundamentally changing this program with the passage of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA). The principal focus of the 1996 reform is mandatory work requirements enforced by sanctions and strict time limits on welfare receipt. While PRWORA's emphasis on work is not new, the difference is its significant ideological and policy commitment to employment, enforced by time limits. When welfare reform was enacted, some of its proponents recognized that welfare offices would have to change in order to develop individualized workfare plans, monitor progress, and impose sanctions. The "culture" of welfare offices had to be changed from being solely concerned with eligibility and compliance to individual, intensive casework. In this article, I will discuss how implementing workfare programs have influenced the relationship between clients and their workers at the welfare office. I start by describing the burdens faced by offices even before the enactment of welfare reform. Local welfare offices were expected to run programs that emphasized compliance and eligibility at the same time as workfare programs, which require intensive, personal case management. The next section of the paper will focus on strategies welfare offices and workers use to navigate these contradictory expectations. Lastly, I will present information on how clients react to workfare programs and some reasons they acquiesce to workfare contracts despite their unmet needs. I conclude with recommendations of how to make workfare truly work for welfare clients.
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For Northern Hemisphere extra-tropical cyclone activity, the dependency of a potential anthropogenic climate change signal on the identification method applied is analysed. This study investigates the impact of the used algorithm on the changing signal, not the robustness of the climate change signal itself. Using one single transient AOGCM simulation as standard input for eleven state-of-the-art identification methods, the patterns of model simulated present day climatologies are found to be close to those computed from re-analysis, independent of the method applied. Although differences in the total number of cyclones identified exist, the climate change signals (IPCC SRES A1B) in the model run considered are largely similar between methods for all cyclones. Taking into account all tracks, decreasing numbers are found in the Mediterranean, the Arctic in the Barents and Greenland Seas, the mid-latitude Pacific and North America. Changing patterns are even more similar, if only the most severe systems are considered: the methods reveal a coherent statistically significant increase in frequency over the eastern North Atlantic and North Pacific. We found that the differences between the methods considered are largely due to the different role of weaker systems in the specific methods.
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The Swiss National Registry for Primary Immunodeficiency Disorders (PID) was established in 2008, constituting a nationwide network of paediatric and adult departments involved in the care of patients with PID at university medical centres, affiliated teaching hospitals and medical institutions. The registry collects anonymized clinical and genetic information on PID patients and is set up within the framework of the European database for PID, run by the European Society of Immunodeficiency Diseases. To date, a total of 348 patients are registered in Switzerland, indicating an estimated minimal prevalence of 4·2 patients per 100 000 inhabitants. Distribution of different PID categories, age and gender are similar to the European cohort of currently 19 091 registered patients: 'predominantly antibody disorders' are the most common diseases observed (n = 217/348, 62%), followed by 'phagocytic disorders' (n = 31/348, 9%). As expected, 'predominantly antibody disorders' are more prevalent in adults than in children (78 versus 31%). Within this category, 'common variable immunodeficiency disorder' (CVID) is the most prevalent PID (n = 98/217, 45%), followed by 'other hypogammaglobulinaemias' (i.e. a group of non-classified hypogammaglobulinaemias) (n = 54/217, 25%). Among 'phagocytic disorders', 'chronic granulomatous disease' is the most prevalent PID (n = 27/31, 87%). The diagnostic delay between onset of symptoms and diagnosis is high, with a median of 6 years for CVID and more than 3 years for 'other hypogammaglobulinaemias'.
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An investigation of exchange market pressure against the pound sterling during the inter-war period. The main findings are that a) the behavior of UK fundamentals relative to those of the USA help to explain exchange market pressure against the pound; b) during the run up to devaluation in September 1931 the monetary authorities in the UK were acting to reduce domestic credit; but that c) additional pressure was brought against the pound from speculative sources. These findings relate to current thinking on the choice of exchange rate regime as even well behaved fundamentals may not be sufficient to sustain a currency on its peg.