Uncovered Interest Parity with Fundamentals: A Brazilian Exchange Rate Forecast Model

One of the most challenging elements of the inflation-targeting framework is the exchange rate forecast. Wadhwani (1999) proposed a UIP, where real variables like the unemployment differential, the current account differential, and the excess return of financial assets affect the expected exchange rate. The objectives of this paper are first to include, as in Wadhwani (1999), some real variables to anchor exchange rate expectations. In our case, the long-run value of the exchange rate is determined by balanced external accounts. Second, we use this approach to simulate the behavior of key macroeconomic variables in an inflation-targeting structural model for Brazil. Finally, we compare the results with those of a random walk specification. The impulse responses under the UIP-with-fundamentals model seemed to be more realistic than those obtained by using other specifications for exchange rate forecasts.

An Empirical Evaluation of an Evolutionary Game Theory Model of the Labor Market

In this paper we intend to perform an empirical evaluation of the evolutionary game theory model of the labor market developed by Araujo and Souza (2010). In order to accomplish this task we focus on the Brazilian labor market by using data from the National Household Sampling Survey – PNAD/IBGE, from 1995 to 2008. We used four different methodologies: the OLS, Pseudo-panel with fixed effects, Instrumental Variables and the Heckman Selection Model. Results indicate that the main difference between the 1995-2002 and 2003-2008 period is the impact of education over wages. According to these findings, investments in education were more profitable for the 2003-2008 period. However, all wage gaps between formal and informal markets reduced considerably.formal and informal and labor market, evolutionary game theory.

Equilibria in reflexive Banach lattices with a continuum of agents.

We consider exchange economies with a measure space of agents and for which the commodity space is a separable and reflexive Banach lattice. Under assumptions imposing uniform bounds on marginal rates of substitution, positive results on core-Walras equivalence were established in Rustichini-Yannelis [27] and Podczeck [25]. In this paper we prove that under similar assumptions on marginal rates of substitution, the set of competitive equilibria (and thus the core) is non-empty.Competitive equilibria; Continuum of agents; Reflexive Banach lattice commodity spaces; Uniform properness;

Co-adaptation of ball reception to the serve constrains outcomes in elite competitive volleyball

How impactful is volleyball’s ‘serve-reception game’? Its efficacy has been found to discriminate between winning and losing a match. But how does reception become (in)effective? Based on the theoretical rationale of ecological dynamics, we e hypothesized that skilled receivers in volleyball would not display ready-made responses, but rather would co-adapt action modes during serve-reception to deal with the specific, emergent constraints of service to achieve ttask goals. In order to examine this issue we investigated whether the co-adaptation of serve and reception action modes was a significant predictor of set outcome in elite volleyball performance (win or loss), analysing the first and last sets of the 2014 World League Finals matches (897 game-sequences). The power-jump and jump-float were the serving modes observed and the overhand, underhand-lateral and underhand-frontal passes were the reception modes categorized. We found that the co- adaptation of serve and reception action modes predicted set outcome in the final set of a match. Receiving the jump-float serve with an overhand pass or underhand-lateral pass increased the odds of winning the final set by 200 per cent. Results suggested that, at an expert level, mastering the overhand pass and the underhand lateral pass gives teams a competitive edge. Receivers showing flexibility in action mode selection improved a team’s odds of successfully winning the final set of a match

VCube-PS: A Causal Broadcast Topic-based Publish/Subscribe System

In this work we present VCube-PS, a topic-based Publish/Subscribe system built on the top of a virtual hypercube-like topology. Membership information and published messages are broadcast to subscribers (members) of a topic group over dynamically built spanning trees rooted at the publisher. For a given topic, the delivery of published messages respects the causal order. VCube-PS was implemented on the PeerSim simulator, and experiments are reported including a comparison with the traditional Publish/Subscribe approach that employs a single rooted static spanning-tree for message distribution. Results confirm the efficiency of VCube-PS in terms of scalability, latency, number and size of messages.Comment: Improved text and performance evaluation. Added proof for the algorithms (Section 3.4

Geodiversity of Ceará State (Brazil): assessment and mapping

The results on the geodiversity assessment of Ceará State (148,016 km2, northeast Brazil) are presented. The assessment was performed using a methodology based on the counting of occurrences of geodiversity with cartographical data and GIS procedures. This work is part of the methodological approaches applied in other large territories in Brazil and Portugal considering geodiversity as the diversity of rocks, fossils, lanforms, soils, water resources, and mineral and energy sources occurrences. Therefore, the geodiversity index resulted from the sum of the six partial indices: i) lithological; ii) paleontological; iii) geomorphological; iv) pedological; vi) hydrological; vi) mineral occurrences. The Geodiversity Index score of each grid square is the sum of all partial indices. Hydrological partial index was an upgrade to the previous five-partial indices methodological proposal, considering both surface water resources and ground water as essential components of geodiversity. Furthermore, the traditional cell grid used to operate the counting of geodiversity elements was substituted by a territorial organization by drainage sub-basins. Vector cartographical data were obtained from official Brazilian institutions and treated with GIS software to generate the six partial indices. According to the type of occurences these indices may have very different ranges thus values were normalized to a maximum of 5 points each. The sum of partial indices in each drainage sub-basin resulted in a quantitative map of geodiversity with values from 4 to 26. Subsequently the values were interpolated using the Kriging method delivering the geodiversity map of the Ceará State. Geodiversity index was here defined with qualitative values ranging from “very low” to “very high”. The regions Noroeste Cearense and Sul Cearense have the highest geodiversity in the state while the region Sertões Cearenses has the lowest. The use of specific GIS procedures increases the mapping options and confirmed that they can speed-up spatial analysis to calculate geodiversity if official digital maps are available.info:eu-repo/semantics/publishedVersio