A Discrete Choice Analysis of the Household Shares of Risky Assets

This paper studies household decisions about participation and investment in risky financial markets, using a unique panel dataset of Italian households. Micro data show that households are enormously heterogeneous in their financial decisions. Most of this heterogeneity is associated with the choice of participating in risky financial markets, and with time persistence in this decision. We postulate a model of portfolio choice with two types of financial assets, risky and riskless, and costs of participation. We use a flexible approach to estimate the conditional probability distribution function of the household shares of risky assets. We find that both household the cash-on-hand/non- financial-income ratio and non-financial-income have a positive e¤ect on the household shares of risky financial assets, mainly due their influence on the household likelihood of participating in the risky financial assets. The evidence also shows that the lagged household share of risky asset is an important determinant of the household choice. Nevertheless, we find that the age of the household’s head has not statistical relevance.household portfolio, longitudinal data, discrete choice.

Returns to schooling in Uruguay

In this paper we analyze the economic returns to schooling in Uruguay. Instrumental variables are used to estimate mean and quantile regressions. An indicator of whether an Internet connection is available at home is used as an instrument for the years of schooling of the household head. The evidence shows that the simple Mincer OLS estimates are downward biased. When estimates are controlled for measurement error in schooling reports the results indicate that an additional year of schooling increases wage rates by 22 percent.returns to schooling, schooling premium

Decomposing the Gaps between Afro-descendants and Whites along the Wage Distribution

In this paper we analyze the racial wage gap in Uruguay in the period 2006-2009 using data from the Household Survey collected by INE (the National Statistics Institute). We select a sample of full-time men workers aged 25-59. We decompose the gap between log hourly-wages of Whites and Afro-descendants at the mean and at each percentile of the wage distribution using the distributional regression approach proposed in Chernozhukov et al. (2009). We find that Afro-descendants are paid less in all position of the wage distribution and that the gap increases from the median up. It is around 0.20 until the median and reaches 0.60 at percentile 90. The results from the decomposition show that both the gap that can be explained by selected characteristics (years of schooling, potential experience and region) and the residual widen at the upper tail of the distribution.Wage gap, Afro-descendants, Discrimination, Counterfactual estimation

La empresa y su responsabilidad en el contexto nacional e internacional

The company as an economic activity is immersed from the economic, legal, administrative and even often social point of view. When having the need to offer quality goods and services is forced to have different controls and different mechanisms that make it a socially responsible company and that have an impact in the international context, especially in the exchange of goods and services. they offer by technological and electronic means what reverberates throughout the world in a massive and vertiginous way. The company is responsible for the damage caused by its activity, often without the intention of causing such damage, simply by the dynamism it performs, which may have repercussions within the national territory or ou

Martos García, Paula (2015): Diccionario de colocaciones léxicas del español del reino de Granada, Madrid, Síntesis, 320 páginas. [Reseña]

[Resumen] Reseña de: MARTOS GARCÍA, Paula (2015): Diccionario de colocaciones léxicas del español del reino de Granada, Madrid, Síntesis, 320 páginas

O dicionário de tradução : um repositório de amostras de significados

As reflexões que se seguem têm por objecto o dicionário, o dicionário bilingue, o dicionário bilingue de espanhol-português e, de uma maneira especial, o seu uso como dicionário para a tradução, como dicionário codificador

Dicionários monolíngues da língua galega

O objectivo deste trabalho será mostrar em que medida os principais dicionários monolíngues galegos de que actualmente dispomos no mercado fornecem informação (gramatical, combinatória, pragmática, etc.) suficiente para servirem como ferramentas para ajudar o utilizador a elaborar textos em galego (como língua materna, segunda ou estrangeira). Tentarei quantificar, de maneira aproximada, esta informação, para assim poder justificar respostas a perguntas do tipo: Qual é o melhor dicionário de galego? Que dicionário podemos utilizar para ajudar a aprender galego? Que dicionário nos pode ajudar a escrever em galego? etc.The aim of this work is to show in what measure the current Galician unilingual dictionaries provide sufficient information (grammatical, combining, or pragmatic information) to serve as a tool to help users to elaborate texts in Galician (as mother tongue, second language or foreign language). I will attempt to quantify, in an approximate way, this information, for thus be able to justify answers to questions such as: Which is the best Galician dictionary? What dictionary can we use to learn Galician? What dictionary can help us to write in Galician? etc.Secretaria I+D da Xunta de Galici

Dicionários codificadores

O objectivo deste trabalho será mostrar em que medida os principais dicionários monolingues portugueses de que dispomos no mercado fornecem informação (gramatical, combinatória, pragmática, etc.) suficiente para servirem como ferramentas para produzir ou codificar um texto em português. Tentaremos quantificar, de maneira aproximada, esta informação, para assim poder justificar a resposta a perguntas que frequentemente me foram colocadas, do tipo: Qual é o melhor dicionário de português? Que dicionário posso utilizar para aprender português? Que dicionário me pode ajudar a escrever em português?, etc.Instituto Português do Livro e das Bibliotecas (IPLB).Fundação Calouste Gulbenkian (FCG).Fundação para a Ciência e a Tecnologia (FCT)

Estimating heterogeneous costs of participation in the risky asset markets

This paper develops and estimates a dynamic structural model of participation in the risky financial asset markets using household level panel data. We specify a simple economic model in order to capture the portfolio choice over the life cycle. We solve the model using numerical techniques. Then we embed the optimal solution into the statistical (auxiliary) model and estimate the structural parameters using Generalized Indirect Inference. This paper focuses on the estimation of the non proportional costs to participate in the risky asset markets. We consider heterogeneous costs among education groups. We find that participation costs in the risky asset markets are positive and significant. We also conclude that they vary a lot among education groups.Portfolio choice, dynamic programming, indirect inference

A palavra como unidade lexicográfica?

Nesta comunicação pretendemos demonstrar a adequação de determinadas estruturas sintagmáticas como unidades de análise e descrição lexicográfica.Fundação para a Ciência e a Tecnologia (FCT)