Fiscal transfers in a monetary union with sovereign risk

Este documento investiga los efectos sobre el bienestar y las propiedades de estabilización económica de un esquema de transferencias fiscales entre miembros de una unión monetaria sujetos a choques de riesgo soberano. El esquema consiste en reglas de transferencia entre países que se activan cuando los diferenciales de riesgo soberano se amplían. Este esquema se incorpora en un modelo con fricciones financieras. En particular, los bancos de cada país tienen bonos del Gobierno en sus carteras y, por eso, están expuestos al riesgo soberano. Cuando este aumenta, el valor patrimonial de los bancos baja, obligándoles a contraer el crédito al sector privado y, al mismo tiempo, a elevar los tipos de interés. Este documento muestra que, cuando la política fiscal en cada país no es distorsionadora, las transferencias fiscales mejoran el bienestar y la estabilidad macroeconómica. Esto se debe a que las transferencias fiscales pueden reducir la exposición de los bancos a la deuda del Gobierno, liberando el suministro de crédito al sector privado. Por el contrario, cuando la política fiscal interna es distorsionadora, las transferencias fiscales causan pérdidas de bienestar, a pesar de estabilizar la economía. Este resultado surge porque las distorsiones causadas por el financiamiento del esquema superan los efectos positivos de las transferencias fiscales al suavizar el ajuste de la economía afectada por el choqueThis paper investigates the welfare and economic stabilization properties of a fiscal transfers scheme between members of a monetary union subject to sovereign spread shocks. The scheme, which consists of cross-country transfer rules triggered when sovereign spreads widen, is incorporated in a two-country model with financial frictions. In particular, banks hold government bonds in their portfolios, being exposed to sovereign risk. When this increases, a drop bank’s equity value forces them to contract credit and to raise lending rates at the same time as they retain funds to build up their net worth. I show that, when domestic fiscal policy is not distortionary, fiscal transfers improve welfare and macroeconomic stability. This is because fiscal transfers can reduce banks’ exposure to government debt, freeing credit supply to the private sector. On the contrary, when domestic fiscal policy is distortionary, fiscal transfers cause welfare losses, despite stabilizing the economy. This result arises because the distortions caused by funding the scheme outweigh the positive effects of fiscal transfers in smoothing the adjustment of the economy hit by the shoc

Teaching Design Thinking in times of COVID-19: an online learning experience

[EN] Due to the COVID-19 pandemic, in March 2020, the Innovation Management & Design Thinking course at NOVA IMS suddenly transitioned to a 100% online setting after only two presential classes, requiring adaptations to the learning experience, course materials and class dynamics. There were concerns that the learning experience would suffer and if it would be possible to promote empathy in an online environment. This study evaluates the impact of this disruption on the learning experience, student performance and engagement by comparing the final grades, applying two surveys and conducting in-depth interviews. Our results show that instead of a contingency situation, it turned out to be a transformative experience. Learning performance and engagement were not meaningfully affected, as students were just as able to commit to their innovation projects and produce quality outcomes. We propose that blended learning experiences will leverage the best of both online and presential worlds in the future after COVID-19 and offer specific suggestions drawn from the collected data. The results are valuable for lecturers – from any course – who want to improve their learning experience in the new reality after the COVID-19 pandemic.Victorino, G.; Henriques, R.; Bandeira, R. (2021). Teaching Design Thinking in times of COVID-19: an online learning experience. En 7th International Conference on Higher Education Advances (HEAd'21). Editorial Universitat Politècnica de València. 263-270. https://doi.org/10.4995/HEAd21.2021.13149OCS26327

Emigration and fiscal austerity in a depression

transformatiu CRUE-CSICUTP en procés de revisióWhat is the role of emigration in a deep recession when the government implements fiscal consolidation? To answer this question, we build a small open economy New Keynesian model with matching frictions and emigration. In simulations for the Greek Depression, fiscal austerity accounts for almost 1/3 of the GDP decline and 12% of emigration. A no-migration scenario under-predicts the bust in output by 1/6 and the rise in the debt-to-GDP ratio by 8 percentage points. The link between emigration and austerity is bi-directional. Emigration increases the labour tax hike and time required to reduce the debt ratio due to endogenous revenue leakage. In turn, tax hikes intensify emigration, while unproductive government spending cuts have a mild, ambiguous impact as they exhibit opposite demand and wealth effects. However, productive spending cuts display a fiscal multiplier above one, which incentivizes emigration. Emigration then amplifies the productive spending multiplier through internal demand. Similarly, the cumulative labour tax multiplier after five years rises from 0.86 without migration to 1.27 when the unemployed emigrate and 1.47 when both the unemployed and the employed emigrate

Mitigação de ataques em redes definidas por software utilizando o sistema de detecção de intrusão baseado em rede Snort

TCC (graduação) - Universidade Federal de Santa Catarina. Campus Araranguá. Tecnologias da Informação e ComunicaçãoAs Redes Definidas por Software (do inglês SDN) surgiram como um novo modelo de operações de rede de computadores para atender as crescentes demandas atuais das redes, que requerem rapidez na implementação e resposta a mudanças. Em vista disso, o trabalho tem como objetivo geral investigar o uso do sistema de detecção de intrusão baseado em rede Snort em um ambiente de rede SDN para verificar sua eficácia no auxílio à mitigação de ataques destinados à rede. Para tal, inicialmente foi efetuada uma pesquisa bibliográfica e documental para estudo sobre as áreas envolvidas e para buscar as possíveis ferramentas capazes de realizar os testes executados no trabalho. Diante desta pesquisa, foi realizada a simulação de um ambiente virtualizado de rede SDN com o controlador da rede integrado ao Snort, onde foram executados ataques cibernéticos para a coleta e análise quali-quantitativa de resultados sobre a habilidade desta ferramenta de segurança em contribuir na detecção e mitigação dos ataques emitidos à rede. Diante disso, os resultados demonstraram que o Snort conseguiu detectar os ataques executados no ambiente e enviar alertas ao controlador da rede, portanto, concluiu-se que a ferramenta Snort conseguiu efetivamente desempenhar o seu papel na segurança da rede SDN.Software-defined Networking (SDN) emerged as a new model to operate computer networks to meet the growing current demands of networks, which require speedy implementation and response to changes. In view of this, this work aims to investigate the use of the Snort network-based intrusion detection system in an SDN network environment to verify its effectiveness in helping to mitigate attacks aimed at the network. To this end, a bibliographic and documentary research was initially carried out to study the areas involved and to search for possible tools capable of carrying out the tests performed in this work. On account of this research, a simulation of a virtualized SDN network environment was performed with the network controller integrated to Snort, where cyberattacks were performed for the collection and qualitative and quantitative analysis of results on the ability of this security tool to contribute to the detection and mitigation of the attacks emitted to the network. The results showed that Snort was able to detect attacks performed in the environment and send alerts to the network controller, therefore, it was concluded that the Snort tool was able to effectively play its role in the security of the SDN network

Fiscal consolidations in a low inflation environment: pay cuts versus lost jobs

We construct a model of a monetary union to study fiscal consolidation in the periphery of the euro area, through cuts in public-sector wages or hiring when the nominal interest rate is constrained at its lower bound. Consolidation induces a positive wealth effect that increases demand, as well as a reallocation of workers towards the private sector, which together boost private activity. However, in a low-inflation environment, demand is suppressed and the private sector is not able to absorb the additional workers. Comparing the two instruments, cuts in public hiring increase unemployment persistently in this environment, while wage cuts can reduce it. Regions with higher mobility of labor between the two sectors are able to consolidate more effectively. Price flexibility is also key at the zero lower bound: for a higher degree of price rigidity in the periphery, consolidation becomes harder to achieve. Consolidations can be self-defeating when the public good is productive.E. Pappa acknowledges the support of FCT as well as the ADEMU project, funded by the European Union's Horizon 2020 Program under grant agreement No. 649396. The views expressed here in no way reflect those of the Bank of England or the Bank of Spai

Desenvolvimento de uma metodologia portátil para análise de metanol em etanol e detecção de aldeídos visando a utilização em combustíveis e outros produtos comerciais

Dissertação (mestrado)—Universidade de Brasília, Instituto de Química, 2012.Texto parcialmente liberado pelo autor. Conteúdo: foram restritos os capítulos 3 e 4, as conclusões e perspectivas.Neste trabalho foi desenvolvida uma metodologia colorimétrica quantitativa e qualitativa utilizando o reagente de Schiff para detecção de metanol em etanol, álcool etílico hidratado combustível, gasolina, cerveja e cachaça, assim como uma metodologia colorimétrica qualitativa para detecção de aldeídos, visando a detecção de formol em xampu e detergente. Com o método qualitativo para detecção de metanol e aldeídos consegue-se distinguir intervalos de concentração do analíto de 0 a 100 % desde que utilizadas amostras com concentração de referência, de modo que é possível realizar uma análise semi-quantitativa. As amostras que não possuem o analíto não geram cor, facilitando a detecção. As análises quantitativas possuem baixa reprodutibilidade devido a vários fatores cinéticos envolvidos na reação como a presença de duas espécies cromóforas e reações paralelas do analíto. Por meio de estudos cinéticos por espectroscopia na região do visível das amostras tradadas pelo método foi identificada a presença de duas espécies cromóforas relativas aos adutos de Schiff em comprimentos de ondas distintos, sendo 1= 588 nm e 2 = 591 nm. Foi identificado um intervalo de estabilidade da reação de formação do aduto de 45 a 55 min. Sílica, papel, alumina e amido foram impregnados com reagente de Schiff, sendo que apenas a sílica e o papel conseguiram suportar e estabilizar o reagente e serem ativas para detecção de aldeídos.A metodologia qualitativa para ambas as análises foi adaptada na forma de um kit, para aplicação em campo. _____________________________________________________________________________ ABSTRACTIn this work was developed a qualitative and quantitative colorimetrical methodology using Schiff s reagent for detection of methanol contamination in ethanol, hydrated ethylic alcohol fuel, gasoline, beer and cachaça, as well as a qualitative colorimetrical methodology for detection of aldehydes, aiming to detect formaldehyde, in shampoos and detergents. Using references samples, the qualitative method for detection of methanol and aldehydes can distinguish concentrations of the analyte from 0 to 100 % and can be used as a semi quantitative analysis. In the absence of the analyte in the samples it doesn't appear colors, facilitating the detection. The quantitative analysis have low reproducibility because of many kinetics factors involved in the reaction, like the presence of two chromophore species and parallel reactions of the analyte. Indeed, the kinetic studies by spectroscopy in the visible region of the samples previously treated by the analytic method identified the presence of two chromophore species relative to the formation of two Schiff adducts in different wavelengths ( 1= 588 nm e 2 = 591 nm). It was also identified an interval of stability for the adducts from 45 to 55 min. Silica, paper, alumina and starch were impregnated with the Schiff reagent, and only silica and paper were able to support and stabilize the reagent and keep it active for detection of aldehydes. The qualitative methodology for both analyses was adapted in a portable kit, to apply in field

Fiscal transfers in a monetary union with sovereign risk

This paper considers a scheme of fiscal transfers between member states of a monetary union subject to sovereign spread shocks. The scheme consists of a set of cross-country transfer rules triggered when sovereign spreads widen. I study its implementation in a twocountry model with financial frictions estimated for Portugal and the Eurozone. The model illustrates how domestic fiscal policy is unable to buffer the widening of sovereign spreads when public debt is high and spreads are responsive to the fiscal outlook. On the contrary, because transfers are made between governments, they alleviate the strain caused on the fiscal stance directly and reduce the pass-through of sovereign risk to private lending to firms. I find that, for welfare to improve for all member states, their relative size and fiscal profile need to be nearly symmetric. Nevertheless, I show that for a cost to the remaining members states significantly smaller than the benefits they derive from being part of the union, a small country like Portugal can secure sizeable increases in life-time consumption.The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396

Falsas memórias : a dúvida no processo penal

Orientadora: Priscilla Placha SáMonografia (Graduação) - Universidade Federal do Paraná, Setor de Ciências Jurídicas, Curso de Graduação em DireitoResumo: O presente artigo busca, por meio de revisão crítica da literatura, expor as incertezas que as falsas memórias – recordações de algo que não aconteceu ou que aconteceu de modo diverso do lembrado – levam ao direito processual penal. Partindo do que já se descobriu acerca da percepção sensorial e das dinâmicas mnemônicas, com suas características e limitações, objetiva-se demonstrar que tal conhecimento científico macula a confiança desmesurada nas possibilidades do processo penal. Assim, é brevemente exposto o funcionamento da memória, bem como são tecidas considerações sobre as questões da verdade e da certeza no processo penal, passando-se em seguida a narrar como o processo como um todo – inclusive a decisão – está sujeito a falhas que, como é o caso das falsas memórias, reduzem a qualidade da informação que o compõe. Sendo por fim analisadas alternativas que evitem a ocorrência de falsas memórias, verifica-se que podem ser evitadas em certo grau, mas não há como afastá-las totalmente, resultando na constatação de que uma sanção gravosa como a penal acaba por ser definida em um espaço de racionalidade limitada e inevitável incerteza

Colorimetric indicator paper for formol detection in milk based and personal care products

Due to its low cost, formaldehyde was commonly used as conservative in hygienic and cosmetic products. However, formaldehyde is strongly reactive and toxic, so its use has been forbidden in several products. Recently, it was reported by different media that formaldehyde has been added illegally in milk, causing innumerous health problems. In this work we developed a colorimetric indicator paper based on Schiff 's reagent, which can be associated with a smartphone application. It was observed that the paper stabilizes the Schiff 's reagent, avoiding its decomposition during short periods. It was also possible to successfully detect the presence of formaldehyde in commercial products, such as: detergents, shampoos and conditioners. Regarding milk based products, the indicator paper is very sensitive to detect formaldehyde, having a sensibility of 0.01% (v/v). The developed indicator paper has low cost and can help the supervision of milk products, as a trial test. Also it is possible to commercialize this product to common consumer, due to its simplicity

Contexto histórico das formas de organização da produção: repercussões organizacionais e sociais

This essay aims to analyze the historical context of the forms of organization of production as a fundamental and structuring element of all the dynamics of organizations and society, as well as a factor that influenced organizational relationships, with social repercussions in people's lifestyle. This construct analyzes the forms of organization of production  from the pre-industrial, through the massification of industrial society until reaching the diversified possibilities, called post-industrial in this essay –, understanding the contradictions of each historical macroperiod, without any pretension to define these periods as closed “boxes”.Este ensayo tiene como objetivo analizar el contexto histórico de las formas de organización de la producción como elemento fundamental y estructurante de toda la dinámica de las organizaciones y de la sociedad, así como un factor que influyó en las relaciones organizacionales, con repercusiones sociales y en el estilo de vida de las personas. Este constructo analiza las formas de organización de la producción – desde lo preindustrial, pasando por la masificación de la sociedad industrial hasta llegar a las posibilidades diversificadas, denominadas postindustriales en este ensayo –, comprendiendo las contradicciones de cada macroperíodo histórico, sin pretensión alguna de delimitar estos períodos como “cajas” cerradas.O presente ensaio tem como objetivo analisar o contexto histórico das formas de organização da produção como elemento fundamental e estruturante de todas as dinâmicas das organizações e da sociedade, bem como fator que influenciou as relações organizacionais, com repercussões sociais e no estilo de vida das pessoas. Este constructo analisa as formas de organização da produção – desde as pré-industriais, passando pela massificação da sociedade industrial até chegar às possibilidades diversificadas, denominadas neste ensaio de pós-industriais, entendendo as contradições de cada macroperíodo histórico, sem nenhuma pretensão de definir esses períodos como “caixas” fechadas