A FEASIBLE AND OBJECTIVE CONCEPT OF OPTIMALITY: THE QUADRATIC LOSS FUNCTION AND U. S. MONETARY POLICY IN THE 1960's

The introduction of linear-quadratic methods in monetary economics in the 1960s tinged the intense debate about the optimal monetary policy instrument. These methods were widely used outside monetary economics because they delivered easy solutions to complex stochastic models. This same reason explains the success of quadratic loss functions according to the conventional wisdom among monetary economists. In this traditional narrative, Henri Theil and Herbert Simon are often cited by their proofs that models with quadratic objective functions have the certainty equivalence property. This attribute made the solution of these models feasible for the computers available at that time. This paper shows how the use of a quadratic loss function to characterize the behavior of central banks inaugurated an objective or uniform way of talking about optimality. In this respect, the discourse on optimal monetary policy stabilized. Moreover, a richer account of the quadratic approach to monetary policy debate emerges by analyzing how quadratic loss functions were used in operations research and management problems by groups of scientists that included economists like Modigliani and Simon. I argue that feasibility is only one important factor that explains the wide popularity of quadratic functions in monetary economics.

Privileging Micro over Macro? A History of Conflicting Positions

Mainstream macroeconomists agree that we live in the age of microfoundations. The recent worldwide financial crisis may have emboldened critics of this microfoundational orthodoxy, but it remains the dominant view that macroeconomic models must go beyond supply and demand functions to the level of “deep parameters.” Microeconomics on this view is prior to macroeconomics. The standard narrative of the rise of microfoundations locates their origins in the work of Lucas and his new classical friends and followers in the 1970s. Our purpose is to step back and to reexamine the history of the relationship of microeconomics and macroeconomics without presupposing the truth of the standard narrative, challenging the association of microfoundations with Lucas and rational expectations.microfoundations; new classical macroeconomics; Robert Lucas; new Keynesian macroeconomics; new neoclassical synthesis

Challenging Lucas: From overlapping generations to infinite-lived agent models

The canonical history of macroeconomics, one of the rival schools of thought and the great economists, gives Robert Lucas a prominent role in shaping the recent developments in the area. According to it, his followers were initially split into two camps, the "real business cycle" theorists with models of efficient fluctuations, and the "new-Keynesians" with models in which fluctuations are costly, and the government has a role to play, due to departures from the competitive equilibrium (such as nominal rigidities and imperfect competition). Later on, a consensus view emerged (the so-called new neoclassical synthesis), based on the dynamic stochastic general equilibrium (DSGE) model, which combines elements of the models developed by economists of those two groups. However, this account misses critical developments, as already pointed out by Cherrier and Säidi (2015). As a reaction to Lucas's 1972 policy ineffectiveness results, based on an overlapping generations (OLG) model, a group of macroeconomists realized that a competitive OLG model may have a continuum of equilibria and that this indeterminacy justified government intervention for competitive cycles that emerged even in deterministic models. We can identify here two distinct, but related, groups: one of the deterministic cycles of David Gale, David Cass, and Jean-Michel Grandmont, and another of the stochastic models and sunspots of Karl Shell, Roger Guesnerie, Roger Farmer and Costas Azariadis (Lucas's PhD student). Here, the OLG was the workhorse model. Following from these works, a number of authors, including Michael Woodford, argued that similar results could occur in models with infinitely lived agents when there are various kinds of market imperfections. With such generalization, some of these macroeconomists saw that once these imperfections are introduced, nothing important for business cycle modeling was lost and they could therefore leave the OLG model aside as a model of business fluctuations, to the dismay of authors such as Grandmont, Robert Solow and Frank Hahn. In this paper, we scrutinize the differences between the deterministic cycles and sunspot groups and explore the many efforts of building a dynamic competitive business cycle model that implies a role for the government to play. We then assess the transformation process that took place in the late 1980s when several macroeconomists switched from OLG to infinitelived agents models with imperfections that eventually became central to the DSGE literature. With this we hope to shed more light on the origins of new neoclassical synthesis

Interação positiva entre pares: contributos das crianças para a resolução de problemas

Relatório da Prática Profissional Supervisionada Mestrado em Educação Pré-escolarSendo este um relatório da Prática Profissional Supervisionada do Mestrado em Educação Pré-Escolar, pretende-se analisar e refletir sobre a ação pedagógica desenvolvida ao longo de cinco meses em dois contextos educativos: Creche e Jardim de Infância. Abrangendo crianças com idades distintas, importa compreender as diferenças que um educador de infância deve esperar, estabelecendo uma linha de diferenciação pedagógica relacionada com ambos os contextos e adequando as suas práticas às necessidades desenvolvimentais evidenciadas pelas crianças. Dos muitos focos de interesse emergentes durante o período de estágio, um dos aspetos mais relevantes incidiu sobre a interação positiva entre pares, contributos das crianças para a resolução de problemas, com o intuito de compreender quais as implicações que a resolução de problemas entre pares de crianças podem ter no seu desenvolvimento, refletindo sobre o modo como o educador de infância deve atuar perante estes momentos de aprendizagem conjunta. De um modo sucinto, conclui-se que a contribuição das crianças para a resolução de problemas pode ter impacto no seu desenvolvimento, quer ao nível das competências sociais, quer ao nível das capacidades cognitivas.Abstract Since this is a Supervised Professional Practice report from Masters in Preschool Education, it is intended to analyse and reflect on pedagogical action developed over five months in two educational contexts: Nursery and Kindergarten. Covering children with different ages, is important to understand the differences that an early kindergarten teacher should expect, establishing a line of pedagogical differentiation related to both contexts and adapting their practices to the developmental needs highlighted by the children. From the many outbreaks of emergent interest during the probationary period, one of the most relevant aspects focused on positive peer interaction, contributions of children to solve problems in order to understand what implications problems resolution between pairs of children may have in its development, reflecting on how the kindergarten teacher must act before these moments of learning together. Briefly stated, it is concluded that the contribution of children to solve problems can have an impact on their development, both in terms of social skills, both in terms of cognitive skills

Os 60 Anos d’"O Problema do Café no Brasil", de Delfim Netto

O ano de 2019 marca uma dupla importante efeméride do pensamento econômico brasileiro. Trata-se dos 60 anos da tese de livre-docência do Professor Antonio Delfim Netto, posteriormente publicada em livro de grande impacto, intitulada “O Problema do Café no Brasil.” No mesmo ano de 1959, outra importante obra da historiografia econômica brasileira era publicada, Formação Econômica do Brasil, de Celso Furtado

Evolução da infeção associada aos cuidados de saúde num hospital de 2006 a 2011

Introdução - A vigilância epidemiológica das infeções associadas aos cuidados de saúde (IACS) é uma componente fundamental para a sua prevenção e controlo nas unidades de saúde. A identificação das infeções mais frequentes permitirá a implementação de uma vigilância seletiva e o respetivo desenvolvimento de iniciativas de melhoria para a sua diminuição. Objetivo - Identificar as IACS mais frequentes no hospital e a sua evolução entre 2006 e 2011 Metodologia- Efetuou-se um estudo do tipo descritivo-correlacional com uma colheita de dados retrospetiva. Através de uma amostra aleatória estratificada obteve-se 1894 episódios de internamento. Para a identificação de infeção foram utilizados os critérios de infeções nos cuidados de saúde agudos de 2009 do Programa Nacional de Prevenção e Controlo da Infeção Associada aos Cuidados de Saúde. Foi utilizado um instrumento de colheita de dados (Anexo I) através da consulta do processo informático e papel. Resultados- A amostra revelou um predomínio do sexo masculino com 62,1%, a média de idade foi de 53,4 anos e a duração do internamento foi em média de 9,3 dias. A localização da infeção foi de 3,6% nas vias respiratórias inferiores, 2,7% no aparelho urinário, 0,9% no local cirúrgico, 0,6% ocular, do ouvido, faringe nariz ou boca, 0,5% na pele ou tecidos moles, 0,1% no aparelho digestivo e 0,1% óssea ou articular. Conclusão- O estudo permitiu identificar as infeções mais comuns nesta unidade hospitalar. Em estudos futuros as infeções devem ser estudadas individualmente de modo a contemplar fatores de risco relacionados com a infeção em causa.Introduction- Epidemiological surveillance of infections associated with health care (IACS) is a key component to its prevention and control in health facilities. The identification of the most common infections will allow the implementation of a selective surveillance and the development of improvement initiatives contributing to its decline. The objective is to identify the most common HAIs in the hospital and their evolution between 2006 and 2011. Objective- Identify most common HAIs in the hospital and their evolution between 2006 and 2011 Methodology- We conducted a study using the descriptive-correlational type with the acquisition of retrospective data. Through a stratified random sample we were able to obtain 1894 hospitalization episodes. To identify the infection the criteria of infections in acute care 2009 of the National Program for Prevention and Control of Infection Associated with Health Care was used. An instrument of data collection (Appendix I) was used through the consultation of the informatics process and paper. Results- The sample revealed a predominance of males with 62.1%, the average age was 53.4 years and the duration of hospital stay averaged 9.3 days. The localization of infection was 3.6% in the lower respiratory tract, urinary tract 2.7%, 0.9% at the surgical site, 0.6% eye, ear, nose, mouth or pharynx, 0.5% in skin or soft tissues, 0.1% in the digestive tract and 0.1% bone or joint. Conclusion- This study identified the most common infections in this hospital. In future studies infections should be studied individually to take into account the risk factors associated with the infection in question

Employer branding and psychological contract in family and non-family firms

ABSTRACT: Purpose – The purpose of this paper is to assess differences between employees of family and non-family firms regarding their perceptions of employer branding and psychological contract levels. Moreover, focusing on family firms, the authors assess the relation between the employees’ perceptions of employer branding and the psychological contract levels. Design/methodology/approach – The empirical evidence is provided by a sample of 165 Portuguese employees, 76 employees of family firms and 89 non-family firms’ employees, who responded to a questionnaire that included employer branding and psychological contract measures. All respondents study in small and medium-sized private companies. Findings – The results confirmed the research hypotheses, suggesting that employees of family companies show higher perceptions of employer branding and psychological contract levels than employees of nonfamily companies. Results also reveal that the perceptions of employer branding are positively related to the psychological contract levels of the family firm’s employees. Originality/value – This paper aims to contribute to the literature by addressing two contemporary organizational aspects yet under-addressed in the comparison between family and non-family firms while pursuing to offer insights on the relationship between the perceptions s of employer branding and levels of the psychological contract of employees working in family firms.RESUMEN: Objetivo – O objetivo deste artigo é avaliar diferenças entre colaboradores de empresas familiares e não familiares no que respeita às suas perceções das pr aticas de employer branding e níveis de contrato psicol ogico. Além disso, com foco nas empresas familiares, foi avaliada a relação entre as perceções de employer branding dos colaboradores e os níveis de contrato psicol ogico. Design/metodologia/abordagem – A evidência empírica é baseada numa amostra de 165 trabalhadores portugueses, 76 colaboradores de empresas familiares e 89 de empresas não familiares. Os participantes responderam a um question ario que avaliou as perceções sobre as pr aticas de employer branding e os níveis de contrato psicol ogico. Todos os respondentes trabalham em empresas privadas de pequena e média dimensão. Resultados – Os resultados confirmaram as hip oteses de investigação, sugerindo que os colaboradores de empresas familiares apresentam perceções de employer branding e níveis de contrato psicol ogico mais elevados do que os colaboradores de empresas não familiares. Os resultados revelaram ainda que as perceções de employer branding estão positivamente relacionadas com os níveis de contrato psicol ogico dos colaboradores de empresas familiares. Originalidade/valor – Este artigo tem como objetivo contribuir para a literatura ao abordar dois aspetos organizacionais contemporâneos ainda pouco estudados na comparação entre empresas familiares e não familiares. Procurando, ainda, que oferecer insights sobre a relação entre as perceções de employer branding e os níveis de contrato psicológico dos colaboradores de empresas familiares.info:eu-repo/semantics/publishedVersio

Avaliação diária de atitudes e profissionalismo na Graduação Médica: apresentação de um instrumento

Objetiva-se apresentar um instrumento de avaliação diária de atitudes e profissionalismo para estudantes de Medicina em atividades teórico-práticas. A elaboração do instrumento foi baseada nos manuais do programa de integração do aluno com a comunidade, projeto pedagógico do curso e nas Diretrizes Curriculares Nacionais da Graduaçãoem Medicina, realizada por docentes. Os docentes foram consultados em reuniões com duração de 50 minutos, com periodicidade semanal, entre agosto e novembro de 2016. Ao final do processo foi consolidada uma versão do instrumento com cinco itens e seis descritores para discriminação de situações de aprendizagem que permitem a avaliação da competência de um nível mais simples até o mais complexo. Com a utilização do instrumento elaborado não se deixa de avaliar pontos considerados importantes para a formação médica em atividades teórico-práticas.  The objective is to present a daily attitudes and professionalism assessment instrument for medical students in theoretical-practical activities. The development of the instrument was based on the manuals of the program for student integration with the community, on the program’s pedagogical project, and on the National Curricular Guidelines for Undergraduate Programs in Medicine, and was carried out by professors. These were consulted inweekly 50-minute meetings held between August and November 2016. At the end of the process, a version of the instrument was consolidated with five items and six descriptors to discriminate learning situations that enable competency-based assessment from the simplest to the most complex level. With the use of the instrument, points considered important in medical training in theoretical-practical activities cannot be overlooked