Social Protection and Chronic Poverty: Portugal and the Southern European Welfare Regime

This paper aims to assess the extent to which social policies address chronic poverty in south European Union countries and particularly in Portugal. The Southern European welfare regime (Leibfried, 1993; Ferrera, 1996; Bonoli, 1997; Matsaganis et al, 2003), which includes Greece, Italy, Portugal and Spain, has been seen as less developed and less generous in covering social risks. Despite different country profiles, in what Portugal present some distinctive features, South European countries also exhibit several target inefficiencies that make social policies much less successful in tackling extreme and chronic poverty. Possible explanations of that fact may rest in institutional factors, such as the central role of family and the less accountability of the state, the high tolerance of inequality and poverty, and, in broader terms, in attitudes toward inequality and poverty embedded in social and political practices.Chronic Poverty; Social Policy; Portugal; Southern European Welfare Regime

Welfare Regimes in the UE 15 and in the Enlarged Europe - an Exploratory Analysis

The basic aim of this paper is to assess existing welfare regimes in the countries of European Union before and after the enlargement of May 2004 (EU 15 and EU 25) following a comprehensive approach that considers different dimensions of welfare through an extended set of variables. The paper starts with a brief presentation of current debates on welfare regimes and the new social policy agenda in the European Union. It proceeds with the selection of different dimensions of social welfare and social policy, and related key variables that constitute the database for the following statistical analysis. Correlations, factor analysis and cluster analysis are performed in order to produce the clustering of welfare regimes as well as a tentative interpretation of underlying characteristics and patterns of welfare mix and social policies in European Union.

Welfare Regimes in the UE 15 and in the Enlarged Europe: An exploratory analysis

The basic aim of this paper is to assess existing welfare regimes in the countries of European Union before and after the enlargement of May 2004 (EU 15 and EU 25) building on a comprehensive approach that considers different dimensions of welfare through an extended set of variables. The paper starts with a brief presentation of current debates on welfare regimes and the new social policy agenda in the European Union. It proceeds with the selection of different dimensions of social welfare and social policy and related key variables that make up the database for the following multivariate statistical analysis, used in order to produce a clustering of welfare regimes. The paper concludes with a tentative interpretation of the underlying characteristics and patterns of current welfare mix and social policies in European Union.Welfare Regimes; Social Policy; European Union; Enlargement; Cluster Analysis

Analyzing customer profitability in hotels using activity based costing

This paper investigates the use of customer profitability analysis (CPA) in four and five star hotels located in Algarve (Portugal). Traditional accounting systems have been criticized for focusing on product, service or department profitability, and not on customer profitability, thus failing to provide effective information to marketing-related decisions. Results are reported by operating departments, whilst marketing activities focus on customer market segments. Recognizing the growing emphasis on customer value creation, and to overcome the mismatch between the provision and use of information in hotels, CPA techniques have been suggested. Notwithstanding their benefits, namely a strategic focus, hotels still apply traditional techniques. A structured questionnaire collected through personal interviews showed that CPA is far from widespread in hotel management; instead, hotels accumulate costs in profit centers and in cost centers. None of the surveyed hotels had adopted activity based costing, despite this technique being viewed as the most appropriate to calculate individual customer profitability.Este artigo investiga a análise de rendibilidade de clientes nos hotéis de quatro e cinco estrelas do Algarve (Portugal). Os sistemas de contabilidade tradicionais focalizam-se na rendibilidade dos produtos, serviços ou departamentos não fornecendo informação eficaz para decisões de marketing. Os resultados são relatados por departamentos, sendo as atividades de marketing direcionadas para segmentos de mercado. Reconhecendo o foco na criação de valor para o cliente e o “desencontro” entre fornecimento e utilização de informação nos hotéis, a literatura tem sugerido técnicas de análise de rendibilidade de clientes. Apesar dos beneficios destas técnicas, nomeadamente o foco estratégico, os hotéis utilizam técnicas tradicionais. Um questionário estruturado recolhido presencialmente revelou que a técnica CPA está pouco difundida no setor; os hotéis acumulam custos por centros de resultados e por centros de custos. Nenhum adopta o custeio baseado nas actividades, embora seja o método mais apropriado para atribuir custos a clientes.info:eu-repo/semantics/publishedVersio

Low-wage employment in Portugal: Social dimension and recent evolution

Low-wage employment is one of the main origins of poverty and social exclusion in Portugal, along with low pensions granted to elder citizens. In this paper our aim is to provide a first approach of the social dimension of low-wage employment in Portugal, analysing its incidence and profile among regions, sectors, professions, skill levels and gender. This decomposition analysis will stress the most important factors underlying the phenomenon. At a first stage we shall study wage structure and wage inequality evolution in the last decade. The incidence and evolution of low wages and minimum legal wages will be compared whith average wages, in order to evaluate the situation of the low payed vis a vis the other better paid workers. We proceed analysing low-wage decomposition by the criteria mentioned above, taken separately and in interaction, to identify the main determinants and the cumulative effects of these factors in the explanation and evolution of low wages. The main data set available is "Quadros de Pessoal" (Data base of worker characteristics provided by firms) from the MESS ( Employment and Social Security Ministry). In this study we will use directly this data base. Other statistical sources will also be used for complementary aspects. We must say that the data on these area of research are still insufficiently developed in Portugal, and that, in consequence, socio-economic knowledge on low-wage employment as a mechanism of social exclusion is still incipient. Low-wage are but one of the dimensions of social exclusion, closely related with poverty as insufficient economic resources, and is often associated with other dimensions of social exclusion in the labour market, such as unemployment vulnerability and job instability. The crucial role in this triad - low-pay, unemployment, job instability - is played by skill levels, which are particularly low in our country, as we?ll try to demonstrate. Social exclusion must however be analysed at the family unit. As long as income is concerned, wages are far the most important source, particularly for low income active families, and the ?low skills - low pay - low income? chain seems to be the major determinant of social exclusion. The evidence about this mechanism can be found in recent data on Family Budgets.

Monetary policy responses to the recent crisis: Federal Reserve vs. European Central Bank

In responding to the recent crisis, the American and European central banks implemented unlike approaches to monetary policy with different results. In order to understand their decisions and their actual outcomes, as well as prepare further situations like this one, it matters to analyze the monetary policy measures undertaken by both central banks and compare them. The present work particularly focus on unconventional monetary policy measures and examines credit easing implemented by the European Central Bank, in comparison to the Federal Reserve Bank’s quantitative easing. The results, emphasizing the decrease in bond yields due the increase in the banks’ balance sheets, the capacity to control inflation and unemployment and the ability to enhance production, reveal that the Fed was more effective and prompt in taking action against the crisis. In addition, the Fed was also more successful in its communications, with a better management of expectations, capacity to adapt to the markets’ response to quantitative easing and faster implementation of forward looking guidance, a feature determinant to the success of monetary policy. Moreover, the differences between the two banks that may limit the implementation of unconventional monetary policy measures and comprise additional challenges for the ECB are also discussed.Em resposta à presente crise, os bancos centrais norte-americano e europeu implementaram abordagens diferentes à política monetária, com resultados também eles distintos. Por forma a compreender as decisões tomadas e os seus resultados efetivos, bem como preparar futuras situações similares a esta, importa analisar as medidas de política monetária implementadas pelos dois bancos centrais e compará-las. A presente tese foca-se particularmente em medidas não-convencionais de política monetária e estuda a aplicação de credit easing pelo Banco Central Europeu, em comparação ao quantitative easing da Reserva Federal Norte-Americana. Os resultados, salientando a descida no valor de títulos em consequência do aumento das folhas de balanço dos dois bancos, a capacidade de controlar a inflação e o desemprego, e a aptidão para impulsionar a produção, demonstram que o Fed teve mais sucesso e foi mais rápido em agir em resposta à crise. Adicionalmente, o Fed foi também mais bem-sucedido no que diz respeito à comunicação, com melhor capacidade de gerir expectativas, de se adaptar às respostas dos mercados ao quantitative easing e uma mais rápida adoção de forward looking guidance, uma questão determinante para o sucesso da política monetária. São ainda discutidas as diferenças entre os dois bancos centrais que podem limitar a implementação de políticas monetárias não-convencionais, bem como constituir obstáculos adicionais para o sucesso do BCE

Dinâmica de Rendimentos, Persistência da Pobreza e Políticas Sociais em Portugal

This paper aims to investigate income and poverty dynamics in Portugal, with a special focus on chronic poverty. The analysis of income distribution changes in a representative panel of households in Portugal allow us to understand prevailing income mobility patterns as well as quantify and qualify chronic poverty incidence. The paper develops and applies several income mobility measures in addition to standard poverty rates and flows, and poverty spells. It proceeds with the identification of the driving forces of inequality and poverty, and especially of the persistence of poverty after social transfers. Finally, it discusses some implications for social policy. The study is conducted mainly by using microdata on Portugal from the European Community Household Panel (ECHP), covering the period from 1994 to 1997. Complementary secondary analysis on data on Portugal and the EU 15 is used in order to present some comparative analysis.Income dynamics; poverty dynamics; chronic poverty; social policy; ECHP; Portugal

Go digital or go home: the digital transformation of luxury brands

Luxury industry have been perceived incompatible with digital technology for many years. The present dissertation purposes to understand how a digital strategy can coexist with a luxury one, assuring the respect for the brand fundamentals. Since there is an important trend of growth in the sales of luxury products through digital channels, and apps, it is essential to understand in depth the consumers' preferences and motivations while buying luxury goods or services online, in these. To investigate this topic in more detail, a survey was conducted in order to understand the perception, motivations and preferences towards luxury as a more globalized and digitalized sector, and their openness to buying these products through digital channels. The theoretical perspectives on this matter are extensively discussed in this thesis to understand how a digital strategy can influence a luxury brand's performance, and how relevant it is to include the digital tools in the brands' strategies. Research states that the profile has been changing in the past few years, being now, on average a younger consumer, leading to a change in his consumption patterns. In 2025, millennials are expected to represent 50% of the market, and Generation Z 8%. For this reason, it is key to understand what they expect from luxury brands, since they will be the big share of the pie in about five years. Consumers nowadays value more the experience, the proximity with a brand that they can relate to, making them feel understood, connected and unique. 75% of people already have a digital influence, partial or full, in their purchase experience of luxury. The quality of the product, the exclusivity of the product/service, social and environmental responsibility of the brand, the value of the product/Service perceived by others, social media presence, the engagement with Influencers and collaborations with other brands, revealed as the most important factors when choosing a luxury brand.A indústria do luxo foi considerada incompatível com a tecnologia digital durante muitos anos. A presente dissertação visa compreender como uma estratégia digital pode coexistir com uma de luxo, garantindo o respeito pelos fundamentos e princípios da marca. Tendo em conta que existe uma clara tendência de crescimento nas vendas de produtos de luxo por meio de canais digitais e aplicações moveis, é essencial entender em detalhe as preferências e motivações dos consumidores ao comprar bens ou serviços de luxo "online". Para investigar com mais detalhe o tema, foi realizada um inquérito "online", com o objetivo de compreender a perceção, as motivações e as preferências dos consumidores em relação ao luxo como um setor mais globalizado e digital, e sua abertura para a compra desses produtos e serviços pelos canais digitais. As perspetivas teóricas sobre este assunto são amplamente discutidas nesta tese para entender como uma estratégia digital pode influenciar o desempenho de uma marca de luxo e como é relevante, ou mesmo essencial, incluir as ferramentas digitais na estratégia das marcas. O perfil do consumidor das marcas de luxo tem vindo a sofrer profundas alterações, sendo agora, em média, um consumidor mais jovem, o que conduz a uma mudança nos seus padrões de consumo. Em 2025, prevê-se que a geração dos "Millennials" represente 50% do mercado e a Geração Z 8%. Deste modo, é fundamental entender o que eles esperam das marcas de luxo, já que serão a grande maioria do mercado dentro de cinco anos. O consumidor, atualmente, valoriza mais a experiência, a proximidade com uma marca com a qual se relaciona ou identifica, fazendo com que se sinta compreendido, conectado e único. 75% das pessoas já são influenciadas pelos canais digitais, parcial ou totalmente, nas suas experiências de compras de bens ou serviços de luxo. em sua experiência de compra de luxo. A qualidade do produto, a exclusividade do produto / serviço, a responsabilidade social e ambiental da marca, o valor do produto / serviço percebido pelos outros, a presença nas redes sociais, o envolvimento com os "Influencers" e as colaborações com outras marcas, revelaram-se como os fatores mais importantes ao escolher uma marca de lux