40 Years of Monetary Targets and Financial Crises in 20 OECD Countries

This paper examines differences in the stability of the foreign exchange, money, and stock markets, associated with the use of alternative monetary policy targets, based on data from a panel of 20 OECD countries, for the period 1961-2000. The main conclusion of the paper is that the choice of monetary policy target will significantly affect stability in financial markets. The use of inflation targets reduces the likelihood of crises in the foreign exchange and money markets (relative to any other monetary policy framework), suggesting that a central bank concerned with financial stability should adopt this framework. Results also suggest that exchange rate targeting frameworks tend to have higher likelihood of foreign exchange and money market crises, but multilateral exchange rate arrangements have lower likelihood of crises than unilateral pegs. The paper also includes a complete description of the monetary policy targets used in the countries analysed.monetary policy, rules, financial crises.

Evaluating Hospital Efficiency Adjusting for Quality Indicators: an Application to Portuguese NHS Hospitals

The objective of this paper is to develop a methodology to incorporate measures of hospital quality in efficiency analysis, applied to Portuguese NHS hospitals, in order to assess whether there is a trade-off between efficiency and quality in Portuguese hospitals. We develop and compare two methodologies to compute DEA technical efficiency scores adjusted for output quality, for a sample of Portuguese NHS hospitals in 2009. When DEA efficiency scores are adjusted for output quality, the decision making units that lie on the technical efficiency frontier remain largely unaltered, even if a great weight is given to quality indicators over quantity indicators of output. Nevertheless, we find that outside of the frontier adjusting for quality does have an impact in efficiency scores.We conclude that the empirical evidence is not sufficient to identify a clear trade-off between efficiency and quality in the hospitals under review, implying the possibility that efficiency gains may achieved without a significant sacrifice of service quality. Nevertheless, there is enough evidence to conclude that analyzing hospital efficiency without consideration of differences in quality of service will generate biased results. When perceived quality is brought to the analysis, the gap between efficient and inefficient units tends to widen.Hospital efficiency, Hospital quality, Data Envelopment Analysis

Implementing CLIL in schools: the case of the GoCLIL Project in Portugal

Content and Language Integrated Learning (CLIL), an educational approach in which anadditional language is used to teach school subjects, has become increasingly widespread withinstate schools across Europe since the acronym was coined in the mid-nineties. This now includesPortugal where CLIL activity across educational levels has been growing in recent years. Like othernational contexts in Europe, this has also been through the grassroots initiatives of individual schoolskeen to influence positive change in educational practices and reap the benefits which CLIL ispurported to bring about. One such case is the GoCLIL project at Escola Secundária Dr. JoaquimGomes Ferreira Alves in Valadares, Vila Nova de Gaia, which has been operating a CLIL programmethrough English since the academic year 2013-2014. This article outlines fundamentals ofimplementing CLIL in schools and provides an overview of the strengths, weaknesses, opportunitiesand threats (SWOT) of the case. It uses data collected from questionnaires administered to teachers,pupils and parents, lesson observations, pupil focus groups, and teacher reflections obtained duringthe ongoing monitoring process led by the Faculty of Arts and Humanities of the University of Porto.The data contribute to the rich description of the project from which it has been possible to identifyand compare findings across years, as well as factors which have contributed to its sustainability.Insights gained from this case study will be interesting and potentially useful for schools which areconsidering setting up a project of this kind

Dicionário-aberto: a source of resources for the portuguese language processing

In this paper we describe how Dicionáio-Aberto, an online dictionary for the Portuguese language, is being used as the base to construct diverse resources that are relevant in the processing of the Portuguese language. We will briefly present its history, explaining how we got here. Then, we will describe the resources already available to download and use, followed by the discussion on the resources that are being currently developed

Camuflagem de sementes tratadas com pesticidas mitiga a mortalidade de aves silvestres em plantações de trigo e arroz

Seeds used to plant wheat, corn and rice crops in Brazil are treated with the insecticide carbofuran associated with the dye rhodamine B, attracting granivorous birds and causing mortality during sowing. The objective of this study was to evaluate if using camouflaged seeds can minimize mortality caused by the ingestion of seeds with carbofuran. Alternatives for reducing mortality, such as using carbofuran without rhodamine B or replacing carbofuran by carbosulfan, were compared. Three experiments were carried out in regions of known bird mortality in the states of Paraná and São Paulo, Brazil, using conventional sowing over plowed soil in the traditional planting system, 15,896 kg of seeds in 111.46 ha. Bird carcasses were collected and dissected to unveil which poisoned seed treatments had caused birds' deaths. The mortality mounted to 296 birds of 11 species. Eared doves were the most numerous casualties (263). There was significant correlation between mortality and number of consumed seeds. The consumption of camouflaged seeds was lower than that of commercial seeds treated with rhodamine B. The mortality caused by seeds with both rhodamine B and carbofuran was higher than mortality caused by seeds camouflaged only with carbofuran. The replacement of carbofuran with carbosulfan also seemingly reduced mortality, but carbosulfan mortality might have been underestimated as a result of the apparent movement of affected birds after exposure. Seeds treated with carbofuran and rhodamine B and without any dye, were attractive. Because legal requirement for seeds treated with pesticides to be differentiated by dying, the substitution of rhodamine B by camouflaging must be encouraged.Plantações de trigo, milho e arroz no Brasil utilizam sementes tratadas com o inseticida carbofuran, associado ao corante rodamina B, que é atrativo às aves granívoras, causando notável mortalidade durante o plantio. O objetivo deste estudo foi avaliar se sementes camufladas minimizam a mortalidade de aves, causada pela ingestão de sementes tratadas com carbofuran. Possíveis alternativas para redução da mortalidade como carbofuran sem a rodamina B e o carbusulfan, foram testadas comparativamente. Realizaram-se três experimentos em regiões de expressiva mortalidade de aves no Paraná e São Paulo. Semeaduras foram convencionais sobre solo arado no sistema de plantio tradicional, utilizando 15.896 kg de sementes em 111,46 ha. Carcaças de aves foram coletadas e dissecadas, revelando quais tratamentos de sementes envenenadas causaram mortes. A mortalidade foi de 296 aves de 11 espécies. Pombas avoantes foram as vitimas mais numerosas com 263 mortes. Houve correlação significativa entre mortalidade e quantidade de sementes consumidas. O consumo de sementes camufladas e com carbofuran foi menor em relação ao de sementes com rodamina B e com carbosulfan. A mortalidade causada por sementes com rodamina B e carbofuran foi maior em relação à causada por sementes camufladas e com carbofuran, que foi igual à causada por sementes com rodamina B e carbosulfan, cujo inventário foi subestimado. Sementes tratadas com carbofuran, com e sem rodamina B, foram atrativas. Como sementes tratadas com agrotóxicos devem por lei receber coloração diferenciada para evitar acidentes com humanos, camuflagem de sementes deve ser encorajada substituindo a rodamina B.FMC Agricultural Product

Sementes camufladas são menos atacadas por aves silvestres?

Wheat, corn and rice crops in Brazil use seeds treated with systemic insecticide/nematicide carbofuran, mixed to rhodamine B red dye. Carbofuran is toxic and rhodamine B is attractive to wild birds that eat up these seeds, resulting in notable mortality during planting. A field experiment was performed in southeast Brazil to evaluate if camouflaged seeds would be less consumed by wild birds in comparison to commercial seeds with red-colored rhodamine B and aposematic blue seeds. Camouflaged seeds were less removed than seeds with rhodamine B and natural colors. The camouflaging was more effective in the presence of irregularities and litter. There was no removal of blue-colored seeds. As legislation requires treated seeds to receive a different color to avoid accidents with humans, camouflaging may be used as replacement of rhodamine B to reduce mortality rates of wild birds.Plantações de trigo milho e arroz no Brasil utilizam sementes tratadas com o inseticida e nematicida sistêmico carbofuran, associado ao corante vermelho rodamina B. O carbofuran é tóxico e a rodamina B é atrativa às aves silvestres, as quais consomem estas sementes, resultando em notável mortalidade durante o plantio. Um experimento realizado em campo agrícola no sudeste do Brasil mostrou que sementes camufladas foram menos removidas por aves silvestres do que sementes com rodamina B. A camuflagem foi potencializada em presença de irregularidades e serrapilheira no solo. Não houve remoção de sementes de cor azul, mas a formulação granular de cor azul tem causado mortalidade de aves nos USA e Canadá. Como sementes tratadas com agrotóxicos devem, de acordo com a legislação, receber coloração diferenciada para evitar acidentes com humanos, a camuflagem pode ser utilizada, substituindo a rodamina B

Single-photon source with adjustable linear SOP

In this work we generate and detect single photons in optical fibers using the stimulated four-wave mixing (FWM)process. The results show an accurate generation of single photons at four different linear states of polarization (SOPs), with angles 0, 45, 90 and -45 degrees.QuantTel - Quantum Secure Telecommunication