Spatial and Temporal Aggregation in the Estimation of Labor Demand Functions

The consequences of aggregation, temporal or spatial, for the estimation of demand models are theoretically well-known, but have not been documented empirically with appropriate data before. In this paper we conduct a simple, but instructive, exercise to fill in this gap, using a large quarterly dataset at the establishment-level that is increasingly aggregated up to the 2-digit SIC industry and the yearly frequency. We only obtain sensible results with the quadratic adjustment cost model at the most aggregated levels. Indeed, the results for quadratic adjustment costs confirm that aggregation along both dimensions works to produce more reasonable estimates of the parameters of interest. The fixed adjustment cost model performs remarkably well with quarterly, but also with yearly, data. We argue that is may be one more consequence of the unusually high labor adjustment costs in the Portuguese labor market.

Why Do Firms Use Fixed-Term Contracts?

Temporary forms of employment account for a variable but never trivial share of total employment in both the U.S. and in Europe. In this article we look at how one specific form of temporary employment − employment with fixed-term contracts − fits into employers' hiring policies. We find that human capital variables (schooling, skills and employer-provided training) as measured at the levels of the worker and the workplace are important determinants of the employersâ decisions to hire with fixed-term contracts and to promote temporary workers to permanent positions. Those employers that hire more with fixed-term contracts are also those that are more likely to offer a permanent position to their newly-hired temporary employees. Our results indicate that fixed-term contracts are used as mechanisms for screening workers for permanent positions.fixed-term contracts, adjustment costs, labor demand

Employment Dynamics and the Structure of Labor Adjustment Costs

In this paper we discuss the structure of labor adjustment costs in relationship to the dynamics of job and worker flows. Using high frequency data, we document a previously unsuspected degree of lumpiness in employment adjustment, which is characteristic of non-convex adjustment costs. By means of the statistical analysis of duration data, we relate that lumpiness to the structure of adjustment costs and not to the structure of shocks.

The case of KAO

Dissertação apresentada na Faculdade de Ciências e Tecnologia da Universidade Nova de Lisboa para obtenção do grau de Mestre em Engenharia InformáticaRequirements engineering aims at eliciting, analyzing, specifying, validating and managing system requirements. When eliciting system requirements, it is possible to use various approaches, including goal-oriented and aspect-oriented approaches. Although those are two well-known approaches, they are seldom used in conjunction. On the other hand, when using goal-oriented approaches, one common and usual problem is the fact that some of the goals repeat themselves all over the system. This makes goal-oriented models to have a boost in complexity because of the repeating goals, and thus, making the evolution of this model harder than necessary. This complexity could be minimized if an aspect-oriented approach would be used. The big advantage of using a hybrid approach, in our case goal-oriented and aspect-oriented one is the possibility to identify all the scattered goals and modularize them as aspects. In this way we can represent this kind of goal (now an aspect) only once in the model. This means the complexity of the model will be greatly reduced and the readability of the model will also be improved. The final result will be an evolution that could be easily controlled, thus minimizing errors. Although this seems a good idea, there are some challenges to overcome when merging goals and aspects. First of all, a notation and a set of rules must be built in order to compose the model. In order to do this we will use patterns based on roles, as these will help elaborating the model. This work will present an approach that will make possible after modeling the system with a goal-oriented approach, identify aspects and then refine the model taking into account the aspects. In order to accomplish this, the KAOS methodology will be extended with aspects

The Timing of Labor Demand

We examine the timing of firms' operations in a formal model of labor demand. Merging a variety of data sets from Portugal from 1995-2004, we describe temporal patterns of firms' demand for labor and estimate production-functions and relative labor-demand equations. The results demonstrate the existence of substitution of employment across times of the day/week and show that legislated penalties for work at irregular hours induce firms to alter their operating schedules. The results suggest a role for such penalties in an unregulated labor market, such as the United States, in which unusually large fractions of work are performed at night and on weekends.labor demand, time use, wage penalty

Job and worker flows in high adjustment cost settings

This paper analyses the relationship between the size of adjustment costs and the intensity of labor market flows. I argue that high adjustment costs inhibit adjustment to temporary shocks, leaving adjustment to long-lived shocks unchanged. Worker turnover is also reduced because of the negative impact that adjustment costs have on churning.info:eu-repo/semantics/publishedVersio

Impact investing through organisations’ practices

Impact investing tem sido um tópico de tendência nos últimos anos, tendo emergido como uma alternativa para investidores que desejam contribuir para a sociedade bem como satisfazer as suas ambições financeiras. Este novo conceito de investir reuniu o apoio de diferentes atores financeiros; no entanto ainda existe alguma incerteza quanto à definição de investimento com impacto. Esta dissertação pretende clarificar qual o entendimento atual de organizações sobre a definição do conceito e quais as suas principais características, por intermédio de uma abordagem de estudo de caso de duas companhias de seguros internacionais. Além disso, serão feitas considerações relativamente aos investidores e serão destacadas as diferenças entre impact investing e conceitos semelhantes. A pesquisa destaca o entendimento das organizações referidas quanto à definição do conceito e quais as principais características do conceito que consideram quando decidem em quais projetos de impacto investir. Ainda que as organizações venham de contextos diferentes, a definição atual de investimento com impacto prova ser semelhantes e ambas identificam as mesmas cinco características: retorno financeiro, retorno não financeiro, intenção, capacidade de medir impacto e adicionalidade. As quatro primeiras características recebem apoio da maior parte da literatura académica, mas o mesmo não acontece com a última característica. Esta pesquisa conclui que a definição atual de investimento de impacto, mencionada na literatura académica e pelas organizações, inclui as quatro características referidas e tece algumas considerações para futuras pesquisas.Impact investing has been a trending topic in recent times, emerging as an alternative to investors who wish to contribute to society beyond satisfying their financial ambitions. It has gathered support from different financial players; however, ambiguity has remained regarding the definition of impact investing. This dissertation intends to provide clarity to organisation’s current understanding of the definition of the concept through a case study approach of two international insurance companies and what are its core characteristics. Moreover, considerations will be made regarding impact investors and the differences between concepts similar to impact investing will be highlighted. The research focuses on these organisations’ understanding of the definition of the concept and which are the main characteristics they consider when deciding upon which impact projects to invest in. Even though the organisations come from different contexts, their current definition of impact investing proves to be similar and both identify the same five characteristics: financial return, non-financial return, intention, ability to measure impact and additionality. The first four characteristics receive support from most of the academic literature, but the last characteristic does not. This research concludes that the current definition of impact investing, mentioned in the academic literature and by the organisations, includes the four characteristics and provides some considerations for future research