Los cambios en los mercados de trabajo en los 90 han influido principalmente sobre la oferta de trabajo mediante un crecimiento del empleo femenino y un proceso de envejecimiento que reduce de forma paulatina el crecimiento de las tasas de actividad, pero que no garantiza de forma automática la caida de los niveles de desempleo en el horizonte de los próximos años en Europa. Las reformas flexibilizadoras de los 80 y 90 han generado un mercado de trabajo segmentado en el que la temporalidad y la economía "informal" se han instalado de forma no coyuntural sino permanente.Estas circunstancias resaltan el carácter estructural del desempleo que requiere políticas activas encuadradas en el nuevo marco de la moneda única, que superen las timoratas actuaciones actuales desarrolladas por el Fondo Social Europeo y asignen un mayor papel al presupuesto comunitario con un carácter selectivo o discriminador en favor de la creación de empleo.
"This resource features the latest information on the global environmental crisis in the twentieth century. Ideal for student research, it examines the main causes of environmental concern and the key players who raised the environmental consciousness of the public. Following a timeline of key events and a historical overview of the environmental crisis, topical essays examine each of the major areas of environmental concern: our vanishing wilderness, pollution, overpopulation, and how we can coexist with our environment without destroying it."--BOOK JACKET
O design como área de atuação científica e profissional dialoga com a sociedade e a cultura, causando mudanças e sendo afetado por elas, em relação simbiótica. Neste sentido, torna-se uma ferramenta capaz de adaptar projetos às especificidades e diversidade humanas, democratizando o acesso à cultura e promovendo inclusão social. O foco do estudo foi aprofundar o entendimento sobre a experiência das pessoas surdas numa interface digital para dispositivos móveis, por meio de diferentes recursos visuais, como a Língua Brasileira de Sinais (Libras) e iconografia. Como resultado, criou-se um mapa virtual acessível de um câmpus universitário.
Mestrado em Mathematical Finance ; No Reino Unido, muitos empregadores oferecem aos seus empregados algum tipo de regime de pensões profissionais. Um destes tipos é o regime de pensões de benefício definido, isto é, quando um empregador promete pagar uma certa quantidade (definida) de benefícios de pensão ao empregado baseado no salário final e nos anos de serviço. Deste modo, neste tipo de regime de pensão profissional, o empregador suporta todo o risco, porque tem de garantir o pagamento dos benefícios de reforma aos membros quando eles vencem. Os atuários conseguem estimar os pagamentos futuros e descontá-los para a data atual. Este valor atual dos pagamentos futuros é chamado de responsabilidade e pode ser comparado com o montante de ativos para verificar se há dinheiro suficiente no presente para pagar os benefícios futuros prometidos. Contudo, a responsabilidade está sujeita a variações ao longo do tempo porque está exposta ao risco de juros e inflação. Tendo isto em conta, a Mercer desenvolveu uma estratégia de investimento sofisticada chamada "Liability Benchmark Portfolio" ou LBP que é uma carteira de investimentos de baixo risco composta por obrigações do governo de cupão zero que vão igualar aproximadamente as sensibilidades das responsabilidades a mudanças da taxa de inflação e de juro. A minha tarefa no estágio era calcular estas sensibilidades das responsabilidades, que são necessárias para que a equipa de investimentos consiga construir um LBP. Sendo assim, o risco vai ser reduzido e estamos mais perto de assegurar que os membros do fundo recebam os seus benefícios de pensão. ; In the United Kingdom, most employers offer their employees some type of occupational pension scheme. One of these types is a Defined Benefit pension plan, this is when an employer promises to pay a certain (defined) amount of pension benefit to the employee based on the final salary and years of service. So, in this type of occupational pension scheme, the employers bear all the risk, as they have to ensure the payment of the retirement benefits to the members when they fall due. The Actuaries are able to estimate the future payments and discount them to a current date. This present value of the future payments is called the liability and can be compared with the amount of assets to check there is enough money in the present to pay the promised future benefits. However, the liability is subject to variation over time because it is exposed to interest and inflation risk. Taking this into account, Mercer developed a sophisticated investment strategy called the Liability Benchmark Portfolio or LBP which is a low risk investment portfolio composed by zero coupon government bonds that will closely match the sensitivities of the liabilities to shifts in the inflation and interest rate. My task in the internship was to calculate these sensitivities of the liabilities that are required by the investment team to be able to build an LBP. Therefore, the risk will be reduced and we are closer to ensure that the members of the fund will receive their pension benefits. ; info:eu-repo/semantics/publishedVersion
Fifteen years into the twentieth century, Venezuela displays the same income per capita than in 1955. Sixty years of stagnation, where the country managed to elude its portentous luck in the natural resource lottery. This period has been sprinkled with massive oil bonanzas, including the Arab oil embargo (1973), the Iranian revolution (1979), the Gulf War (1990-1991), and the prolonged windfall of the last decade (2004-2013). In spite of that, the economy stagnated throughout, hinting that oil proceeds fueled a mixture of import-based consumption boom (later to be reversed) and capital flight. All these features make Venezuela a prolific field to deepen on the study of certain branches within the economic literature. Chapter 1 contains a real business cycle (RBC) model as originally presented by Kydland and Prescott (1982) and Long and Plosser (1983), calibrated for the Venezuelan economy as a whole, and the non-oil sector in particular. In spite of heavy state intervention, the model is able to replicate observed movements and co-movements of real variables over the cycle more accurately than reported in the literature for more advanced, free-market economies. The goodness of fit is driven by Venezuelan real wages and labor productivity being volatile and almost perfectly correlated with cyclical output, in stark contrast to the sluggishness and lack of correlation with output that real wages exhibit in the United States and other OECD economies. Chapter 2 presents a framework for analyzing financial repression, inflation surprises and seigniorage, and exploring their connections to balance of payments crisis. Fiscal revenues coming from financial repression are significantly higher in years of exchange controls and legislated interest rate ceilings. We find evidence suggesting a systematic link between significant distortions in the domestic financial system and a weakening of external accounts via capital flight. Capital flight weakens the government's revenue base inducing greater reliance on inflation tax ...
[spa] A quince años del siglo XXI, Venezuela exhibe el mismo ingreso por habitante que tenía en 1955. A través de este largo período Venezuela ha sido rociada generosamente por grandes bonanzas petroleras, incluyendo el embargo árabe (1973), la revolución iraní (1979), la guerra del Golfo Pérsico (1990-1991), y la más prolongada registrada durante le década anterior (2004-2013). A pesar de todo, la economía se estancó, lo que sugiere que los proventos del petróleo alimentaron un boom de importaciones de consumo (que luego sería reversado) y una fuga masiva de capitales. Todas estas características hacen de la economía venezolana tierra fértil para profundizar conocimientos en varias áreas de la literatura económica. El capítulo 1 contiene un modelo de ciclos reales idéntico al presentado por Kydland y Prescott (1982) y Long and Plosser (1983), calibrado para la economía venezolana. A pesar de ser una economía fuertemente regulada, el modelo es capaz de replicar los movimientos de las variables reales en los ciclos económicos, de una forma mucho más precisa que en países desarrollados con economías más abiertas y mercados teóricamente más flexibles. La bondad de la aproximación está facilitada por unos salarios reales y productividades del trabajo mucho más volátiles y pro-cíclicas que las de economías desarrolladas. El capítulo 2 presenta una metodología para analizar la represión financiera, sorpresas inflacionarias, y seigniorage, y explora su conexión con las crisis de balanza de pagos. Los ingresos fiscales derivados de represión financiera durante los períodos de control de cambios y tasas de interés reguladas en Venezuela, son similares a los registrados en los países desarrollados, aunque estos últimos tienen ratios de deuda pública doméstica/PIB entre cuatro y ocho veces mayores a Venezuela. La conexión entre los ingresos por represión financiera y el debilitamiento de la posición neta acreedora vía fuga de capitales puede ser uno de los factores detrás del síndrome de baja tolerancia a la deuda, según el cual los países en desarrollo tienden a cesar sus pagos de deuda externa a ratios de deuda/PIB muy inferiores a los países desarrollados. Por último, el capítulo 3 contiene un análisis de los impactos del peso de los recursos naturales en el grado de concentración de la cesta exportadora de productos que no pertenecen a la categoría de recursos naturales. Existe evidencia significativa a favor de la hipótesis de que países cuyas cestas de exportación cuentan con altos porcentajes de recursos naturales, tienden a tener un mayor grado de concentración (menor diversidad) en sus cestas de exportación de recursos no-naturales. A nivel de producto, los intensivos en capital tienden a ocupar una mayor proporción en las cestas de exportación de los países ricos en recursos naturales. De igual forma, bienes homogéneos tienden a ocupar mayor proporción de la cesta exportadora de recursos no-naturales mientras menos sofisticados sean desde el punto de vista tecnológico. Para los productos diferenciados esta tendencia se revierte: Tienden a ocupar mayores proporciones de la cesta exportadora de países ricos en recursos naturales mientras más arriba estén en la escala tecnológica. ; [eng] Fifteen years into the twentieth century, Venezuela displays the same income per capita than in 1955. Sixty years of stagnation, where the country managed to elude its portentous luck in the natural resource lottery. This period has been sprinkled with massive oil bonanzas, including the Arab oil embargo (1973), the Iranian revolution (1979), the Gulf War (1990-1991), and the prolonged windfall of the last decade (2004-2013). In spite of that, the economy stagnated throughout, hinting that oil proceeds fueled a mixture of import-based consumption boom (later to be reversed) and capital flight. All these features make Venezuela a prolific field to deepen on the study of certain branches within the economic literature. Chapter 1 contains a real business cycle (RBC) model as originally presented by Kydland and Prescott (1982) and Long and Plosser (1983), calibrated for the Venezuelan economy as a whole, and the non-oil sector in particular. In spite of heavy state intervention, the model is able to replicate observed movements and co-movements of real variables over the cycle more accurately than reported in the literature for more advanced, free-market economies. The goodness of fit is driven by Venezuelan real wages and labor productivity being volatile and almost perfectly correlated with cyclical output, in stark contrast to the sluggishness and lack of correlation with output that real wages exhibit in the United States and other OECD economies. Chapter 2 presents a framework for analyzing financial repression, inflation surprises and seigniorage, and exploring their connections to balance of payments crisis. Fiscal revenues coming from financial repression are significantly higher in years of exchange controls and legislated interest rate ceilings. We find evidence suggesting a systematic link between significant distortions in the domestic financial system and a weakening of external accounts via capital flight. Capital flight weakens the government's revenue base inducing greater reliance on inflation tax and financial repression. The connection between large haircuts on domestic debt and a weakening of the balance of payments may also help in explaining why emerging markets sovereign defaults often occur at seemingly low levels of external debt to GDP ratios. Chapter 3 contains a thorough cross-country study to assess the impacts of natural resources in non-resource export concentration at the country and product level. It reports significant evidence indicating that countries with high shares of natural resources in exports tend to have less diversified non-resource export baskets. At the product level, capital intensive goods tend to have larger shares on the non-resource basket when natural resources are high. These results are more robust in developing countries, which is consistent with the literature reporting that they are more prone to import capital and therefore benefit from real exchange rate appreciations archetypal of Dutch disease. For resource rich countries, non-resource homogenous goods tend to make up a larger share of the export basket the lower their technological sophistication. Yet, for products further away in the value chain, this pattern is reversed: The more sophisticated non-resource differentiated goods are, the more they thrive in resource-rich environments.
Número Especial: Conferencia Internacional EDaSS VII – ARoEc (Atlantic Review of Economics) ; El presente estudio tiene como objetivo diseñar un modelo analítico para la reducción de la economía sumergida en Ecuador. Para ello, se emplearon técnicas econométricas como un modelo de ecuaciones estructurales MIMIC para la estimación de la economía sumergida en el país, y se desarrolló un modelo VAR para determinar la simulación de las variables más significativas para la reducción de la economía sumergida en Ecuador, y con ellas proponer las políticas económicas que impacten estas variables. En este sentido, se obtuvo por medio del modelo MIMIC que las variables que son estadísticamente significativas como causas de la economía sumergida en Ecuador son: la apertura comercial, el desempleo, la inflación, el gasto de gobierno, y la presión fiscal de un impuesto indirecto como el IVA. Con ello, la estimación del modelo VAR presentó que la variable que más simula una reducción de la economía sumergida es la apertura comercial, con una disminución de la economía oculta en 0.8%. Por lo tanto, la propuesta de política económica se direccionó a la incorporación de medidas de liberalización económica que permitan un incremento de la apertura comercial ; The aim of this study is to design an analytical model for the reduction of the underground economy in Ecuador. With that proposal, econometric techniques were used as a model of structural MIMIC equations for the estimation of the hidden economy in the country. Moreover, a VAR model is developed to determine the simulation of the most significant variables for the reduction of the hidden economy in Ecuador. Additionally this article try to define economic policy measures that impact on those variables. In this sense, the MIMIC model shows that the variables that are statistically significant as causes of the submerged economy in Ecuador are: trade opening, unemployment, inflation, government spending, and the tax burden of a tax indirect as the VAT. Consequently, with this, the estimation of the VAR model presented that the variable that stimulates, in greater percentage, a reduction of the hidden economy is the commercial opening, with a decrease of the hidden economy in 0.8% for each point of increase in this variable. Therefore, the economic policy proposal was addressed to the incorporation of economic liberalization measures that would allow an increase in commercial openness
