Cape Verde: The Case for Euroization

After 10 years of a fixed exchange rate against the euro and a deepening integration with the European Union (EU), the authorities of Cape Verde maintain a strong commitment to nominal stability and are now considering the official euroization of the country. Compared to the current pegging, euroization could be costly if the economic conditions of Cape Verde were to require control over the interest rates and the exchange rate. Given the strong economic and financial integration between Cape Verde and Europe, and the fact that Cape Verde records inflation rates at levels that are similar to those of the European Monetary Union (EMU), the relevant issue is whether the European Central Bank (ECB) monetary policy fits the needs of Cape Verde. In order to answer this question, we empirically assess the synchronization between the business cycle of Cape Verde and the business cycle of the EMU. For that purpose, we compute output gaps and then use conventional correlation measures as well as other indicators recently suggested in the literature. Replicating the methodology for each of the current 27 EU members, our results show that Cape Verde ranks better than several EU countries and even better than some EMU countries. We thus argue that there is a strong case for the euroization of Cape Verde. Euroization would secure the benefits already attained with the pegging to the euro and would warrant additional benefits, most likely with no relevant costs stemming from inappropriate ECB monetary policies.Africa, Cape Verde, European Monetary Union, Euroization, Business Cycles

Electronic participation in a comparative perspective: institutional determinants of performance

Electronic participation can play a crucial role in building broader public involvement in decision-making and public policy to bring about more inclusive societies. Prior empirical analyses have neglected the fact that political institutions are not only affecting the expansion of digital government, but also often interact with more structural conditions to constrain or incentivize the adoption and expansion of e-participation. This research analyses the role of institutional factors in encouraging or constraining e-participation across countries. Fractional regression models are employed to analyze panel data (2008-2018) from the United Nations Member States scores in the E-Participation Index (EPI) developed by the United Nations Department of Economic and Social Affairs (UNDESA). The results indicate that the quality of democratic institutions, freedom of the press, and government effectiveness are all relevant predictors of a higher performance in e-participation. Policy implications are drawn in line with the 2030 UN Agenda for Sustainable Development Goals

Physiologic Basis and Pathophysiologic Implications of the Diastolic Properties of the Cardiac Muscle

Although systole was for long considered the core of cardiac function, hemodynamic performance is evenly dependent on appropriate systolic and diastolic functions. The recognition that isolated diastolic dysfunction is the major culprit for approximately fifty percent of all heart failure cases imposes a deeper understanding of its underlying mechanisms so that better diagnostic and therapeutic strategies can be designed. Risk factors leading to diastolic dysfunction affect myocardial relaxation and/or its material properties by disrupting the homeostasis of cardiomyocytes as well as their relation with surrounding matrix and vascular structures. As a consequence, slower ventricular relaxation and higher myocardial stiffness may result in higher ventricular filling pressures and in the risk of hemodynamic decompensation. Thus, determining the mechanisms of diastolic function and their implications in the pathophysiology of heart failure with normal ejection fraction has become a prominent field in basic and clinical research

Numerical Fatigue Crack Growth on Compact Tension Specimens under Mode I and Mixed-Mode (I+II) Loading

Publisher Copyright: © 2024 by the authors.This study focused on standard Compact Tension (CT) specimens and two loading modes during the numerical analyses carried out, namely: pure mode I and mixed-mode loading (Modes I+II). Numerical stress intensity factors, KI, were calculated using Abaqus® 2022 and compared with those given analytically under pure mode I loading, showing very good agreement. Additionally, KI, KII, and KIII results obtained from Abaqus® were presented for mixed-mode loading, analyzing crack growth and variation through the thickness of the CT specimen. Moreover, fatigue crack growth simulations under mode I loading were conducted on standard CT specimens using the Extended Finite Element Method (XFEM) and the Paris Law parameters of an AISI 316L stainless steel. It was shown that XFEM effectively determines crack propagation direction and growth, provided that an appropriate mesh is implemented.publishersversionpublishe

A survey on power grid faults and their origins: A contribution to improving power grid resilience

UID/EEA/00066/2019One of the most critical infrastructures in the world is electrical power grids (EPGs). New threats affecting EPGs, and their different consequences, are analyzed in this survey along with different approaches that can be taken to prevent or minimize those consequences, thus improving EPG resilience. The necessity for electrical power systems to become resilient to such events is becoming compelling; indeed, it is important to understand the origins and consequences of faults. This survey provides an analysis of different types of faults and their respective causes, showing which ones are more reported in the literature. As a result of the analysis performed, it was possible to identify four clusters concerning mitigation approaches, as well as to correlate them with the four different states of the electrical power system resilience curve.publishe

Joining the open government partnership initiative: An empirical analysis of diffusion effects

Prior empirical studies of the Open Government Partnership have failed to take into account possible diffusion mechanisms contributing to the expansion in the number of countries joining the partnership since its beginning in 2010. Notwithstanding the increase in the study of open government policies over the past decade across multiple levels of government, the factors influencing the decision to join multilateral initiatives like the Open Government Partnership are still under-researched. Using data from 175 countries and covering a period that goes from the year prior to the establishment of the Open Government Partnership (OGP) until the year when the latest current members have joined the partnership (2010–2018), this article examines the diffusion mechanisms affecting a country's decision to participate in the OGP. Based on binary response logit regression models, this study analyses the effects of key diffusion variables while controlling for the countries' internal determinants of participation. The findings indicate that diffusion of the OGP takes place through regional proximity, common cultural and system of government traits, and membership in international organization. While democratic countries are more likely to join, autocracies also join conditional on other countries in the same group joining. This suggests further research is needed to uncover the way countries with different regime traits design and implement transparency and open government policies under the banner of this multilateral initiative

Statistical motion learning for improved transform domain Wyner-Ziv video coding

Wyner - Ziv (WZ) video coding is a particular case of distributed video coding (DVC), the recent video coding paradigm based on the Slepian - Wolf and Wyner - Ziv theorems which exploits the source temporal correlation at the decoder and not at the encoder as in predictive video coding. Although some progress has been made in the last years, WZ video coding is still far from the compression performance of predictive video coding, especially for high and complex motion contents. The WZ video codec adopted in this study is based on a transform domain WZ video coding architecture with feedback channel-driven rate control, whose modules have been improved with some recent coding tools. This study proposes a novel motion learning approach to successively improve the rate-distortion (RD) performance of the WZ video codec as the decoding proceeds, making use of the already decoded transform bands to improve the decoding process for the remaining transform bands. The results obtained reveal gains up to 2.3 dB in the RD curves against the performance for the same codec without the proposed motion learning approach for high motion sequences and long group of pictures (GOP) sizes

Simulation results of a shunt active power filter with control based on p-q theory

The present paper describes a shunt active power filter with a control system based on the p-q theory, and studies its performance through simulation results obtained with different types of loads. It is explained, in a brief form, the p-q theory and its application in the control of a shunt active power filter. Matlab/Simulink was the simulation tool, used in the study, development, and performance evaluation of the shunt active power filter controller. The simulations were carried out for different loads, of linear and non-linear types. The shunt active power filter allows compensating harmonic currents, reactive power, unbalanced loads, and zero-sequence currents, presenting a good dynamic and steady-state performance, as it can be observed in the simulation results.Fundação para a Ciência e a Tecnologia (FCT) - POCTI/ESE/41170/2001