Made available in DSpace on 2016-07-27T13:53:11Z (GMT). No. of bitstreams: 1 CARLOS MARCELO MARTINS CARVALHO.pdf: 5046171 bytes, checksum: 8cff3cd9d68abab96731d6c464ebc28d (MD5) Previous issue date: 2014-04-04 / The central problem of this research is that over the years, following the changes in the democratization of access to basic education, there was a process of casualization and intensification of the work of elementary school teacher network state of Goiás this perspective, it is assumed that this casualization and intensification are from the omission of the State and education policy to offer quality education coupled with the modernization of public educational systems through reforms that are arising from the modernization of the production system, as a consequence, has passed a profound way in teaching, both teachers work more flexible, as in the work of official teachers. The justification for plunging a study like this is that this research has scientific and policy relevance, as it is fundamental role of scientific knowledge, to understand, interpret and analyze social phenomena experienced by different social classes and categories in society. The objective of this study is to collect data for understanding and analyzing the process of casualization of labor and effective elementary school teachers from the state system, in Goiás material conditions The theoretical framework we used was: ANTUNES (2005); AZEVEDO (1997); BIANCHETTI (1999); BUFFA (2002); CORIAT (1988); COUTINHO (1996); FRIGOTTO (2010); GHIRALDELLI (2003); GRAMSCI (1979); IANNI (2013); LIBÂNEO (2003); MARX (1982); MESZÁROS (2006); OLIVEIRA (2004); PARO (2008); SAVIANI (2012); among others. The methodology that was used to conduct this study is qualitative, work with the universe of meanings, motives, aspirations, values, worldviews and attitudes of the subjects studied. But we also use methodologies that allowed up quantitative data such as questionnaires , charts , tables , captions , to interpret and quantify What is the average number of students per classroom; How many hours daily on average are used at home with tasks , planning and correction activity; what the workday; How many schools the teacher works; How many daily, among others. We use various techniques such as field observation, survey of documentary material, sound recordings, structured and semi-structured interviews. Our research identified that there is large number of students per classroom; Degrading material conditions of operation of the school for the development of the learning process; Precarious little training and professional qualification; Low wages, high turnover of temporary teachers; flexible contracts without guarantee of rights, physical and mental wear imposed by work overload to teachers professional. We also identified that the State Government to institutionalize the precariousness of teaching seeks ways to conserve or rationalize labor costs in the management of public funds. / O problema central dessa pesquisa é que ao longo dos anos, acompanhando as mudanças na democratização do acesso à educação básica, houve um processo de precarização e intensificação do trabalho do professor do ensino fundamental da rede estadual de Goiás. Nesta perspectiva, pressupõe-se que essa precarização e intensificação são oriundas da omissão do Estado e das políticas educacionais em oferecer educação de qualidade aliada à modernização dos sistemas educacionais públicos através de reformas que são resultantes da modernização do sistema produtivo, como conseqüência, tem repercutido de maneira profunda no trabalho docente, tanto no trabalho de professores flexibilizados, quanto no trabalho de professores concursados. A justificativa ao aprofundar um estudo como esse é de que a presente pesquisa possui relevância científica e política, à medida que é papel fundamental do conhecimento científico, o de analisar, compreender, e interpretar os fenômenos sociais vivenciados pelas diferentes classes sociais e categorias na sociedade. O objetivo deste trabalho é levantar dados que permitam compreender e analisar o processo de precarização das condições efetivas e materiais de trabalho dos professores do ensino fundamental da rede estadual, em Goiás. O referencial teórico utilizado baseado nos autores: ANTUNES (2005); AZEVEDO (1997); BIANCHETTI (1999); BUFFA (2002); CORIAT (1988); COUTINHO (1996); FRIGOTTO (2010); GHIRALDELLI (2003); GRAMSCI (1979); IANNI (2013); LIBÂNEO (2003); MARX (1982); MESZÁROS (2006); OLIVEIRA (2004); PARO (2008); SAVIANI (2012); entre outros. A metodologia utilizada para realização desse estudo é de caráter qualitativo, ou seja, trabalhamos com o universo de significados, motivos, aspirações, valores, visões de mundo e atitudes dos sujeitos pesquisados. Mas utilizamos também metodologias que permitiram levantar dados quantitativos como, questionários, gráficos; tabelas; legendas; para interpretar e quantificar: Quantas horas diariamente em média são usadas em casa com tarefas, planejamento e correção de atividade; Qual a jornada de trabalho; Em quantas escolas o professor trabalha; Quantos diários de classe; entre outros. Utilizamos técnicas, como observação de campo, levantamento de material documental, gravações sonoras, entrevistas estruturadas e semiestruturadas. A nossa pesquisa identificou que existe elevado número de alunos por sala de aula; degradantes condições materiais de funcionamento da escola para o desenvolvimento do processo ensino aprendizagem; precária formação e pouca qualificação dos profissionais; baixos salários; grande rotatividade de professores temporários; contratos flexíveis sem garantia de direitos; desgaste físico e psíquico imposto pela sobrecarga de trabalho aos profissionais docentes. Identificamos também que o Governo Estadual ao institucionalizar a precariedade do trabalho docente busca formas de economizar ou racionalizar os custos do trabalho na gestão do erário público.

Orientador: Eduardo Strachamn / Banca: Enéas Gonçalves de Carvalho / Banca: Ernani Torres Teixeira Filho / Resumo: O presente trabalho tem como objetivo analisar a experiência do Japão após os colapsos das bolhas especulativas dos ativos na década de 1990. Aceitando que o pior já passou, ou seja, que a crise financeira japonesa foi finalmente resolvida, uma coisa é certa; não antes de uma "década perdida" caracterizada por um longo período, de baixo crescimento, aumento das taxas de desemprego, deflação nos preços dos ativos, falências bancárias e persistência dos no-performing loans. Nesse contexto, as principais respostas obtidas por este trabalho foram: a crença que a recuperação econômica viria com o passar do tempo e a falta de entendimento sobre o tamanho do problema que a morosidade de atuação levaria ao sistema, explica em certo ponto a tolerância inicial do governo japonês frente à crise econômica. A política fiscal expansionista foi eficaz, mas, não utilizada de forma consistente, a natureza "stop-start" dos estímulos realizados, e em particular as prematuras reversões fiscais diminuíram a sua eficácia, outros fatores prováveis para a baixa eficácia durante os anos 90 foram: os estímulos fiscais podem ter sido prejudicados pela queda dos multiplicadores fiscais; os efetivos investimentos públicos foram menores que os anunciados e ao invés de se dar ênfase a obras públicas, priorizou-se cortes em impostos. De outra forma, um caminho fundamental de maximizar os estímulos fiscais é através da restauração do crédito do setor bancário, caso a recapitalização e as restaurações do setor fossem realizas em uma fase inicial, os efeitos dos estímulos poderiam ser de curta duração, se o sistema financeiro estivesse em boa saúde. No Japão, as injeções nos bancos "em grande escala" ocorreram apenas em 1999. Por outro lado, a política monetária, com base em uma versão alternativa da armadilha da liquidez levou o BOJ a tomar algumas medidas... (Resumo completo, clicar acesso eletrônico abaixo) / Abstract: This dissertation intend to analyze the experience of Japan after the collapse of speculative bubbles in assets in the 1990s. Accepting that the worst is over, that is to say, that the Japanese financial crisis was finally resolved, one thing is certain; not before a "lost decade" characterized by a long period of low growth, increasing rates of unemployment, deflation in asset prices, bank failures and persistence of no-performing loans. In this context, the main responses received for this work were: the belief that economic recovery would come with the passage of time and lack of understanding about the size of the problem that the slowness of action would lead to the system; this explains in some degree the initial tolerance of the Japanese government by the economic crisis. The expansionary fiscal was effective, but not consistently used, the nature of "stop-start" of the stimuli made, and in particular the early tax reversals decreased its effectiveness, other likely factors for the low efficiency during the year 1990 were: the fiscal stimuli may have been harmed by falling tax multipliers; the effective public investments were lower than those advertised instead of giving emphasis to public works, the priority was tax cuts. On the other hand, a fundamental way to maximize the tax incentives is through the restoration of credit from the banking sector, if the recapitalization and the restorations of the sector were held in an early stage, the effects of stimuli could be short term, if the financial system was in good health. In Japan, the injections in banks "large scale" occurred only in 1999. Moreover, monetary policy, based on an alternative version of the liquidity trap led the BOJ to take some innovative measures since 2001. Centered on a strategy to ensure liquidity and extend the warranties on direct purchases of assets, quantitative easing was implanted... (Complete abstract click electronic access below) / Mestre

In January 2013, the Japanese Government under Prime Minister Shinzo Abe and the Bank of Japan launched a package of monetary and fiscal stimulus along with promises of structural economic reform called Abenomics. This paper examines the preliminary effects of the Bank of Japan’s Quantitative and Qualitative Monetary Easing (QQE), which forms the monetary component of Abenomics. Given the weak economic response to QQE so far, the study predicts that QQE has failed to make a significant impact on its target macroeconomic variables of inflation and output. The results confirm this hypothesis as increases in the monetary base have an insignificant effect on the Consumer Price Index and have little effect in changing the trajectory of output. The results of QQE so far mirror those of the Federal Reserve’s quantitative easing programs, during which expansion of the monetary base in the aftermath of the 2008 financial crisis failed to significantly raise output given the size of the stimulus. Abenomics, however, continues to be implemented, making the results presented in this paper inconclusive.

Made available in DSpace on 2014-06-11T19:23:32Z (GMT). No. of bitstreams: 0 Previous issue date: 2011-02-08Bitstream added on 2014-06-13T20:30:20Z : No. of bitstreams: 1 fraga_js_me_arafcl.pdf: 570399 bytes, checksum: c4d98662c4b2a66e86a84c364b2ae848 (MD5) / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES) / O presente trabalho tem como objetivo analisar a experiência do Japão após os colapsos das bolhas especulativas dos ativos na década de 1990. Aceitando que o pior já passou, ou seja, que a crise financeira japonesa foi finalmente resolvida, uma coisa é certa; não antes de uma “década perdida” caracterizada por um longo período, de baixo crescimento, aumento das taxas de desemprego, deflação nos preços dos ativos, falências bancárias e persistência dos no-performing loans. Nesse contexto, as principais respostas obtidas por este trabalho foram: a crença que a recuperação econômica viria com o passar do tempo e a falta de entendimento sobre o tamanho do problema que a morosidade de atuação levaria ao sistema, explica em certo ponto a tolerância inicial do governo japonês frente à crise econômica. A política fiscal expansionista foi eficaz, mas, não utilizada de forma consistente, a natureza “stop-start” dos estímulos realizados, e em particular as prematuras reversões fiscais diminuíram a sua eficácia, outros fatores prováveis para a baixa eficácia durante os anos 90 foram: os estímulos fiscais podem ter sido prejudicados pela queda dos multiplicadores fiscais; os efetivos investimentos públicos foram menores que os anunciados e ao invés de se dar ênfase a obras públicas, priorizou-se cortes em impostos. De outra forma, um caminho fundamental de maximizar os estímulos fiscais é através da restauração do crédito do setor bancário, caso a recapitalização e as restaurações do setor fossem realizas em uma fase inicial, os efeitos dos estímulos poderiam ser de curta duração, se o sistema financeiro estivesse em boa saúde. No Japão, as injeções nos bancos “em grande escala” ocorreram apenas em 1999. Por outro lado, a política monetária, com base em uma versão alternativa da armadilha da liquidez levou o BOJ a tomar algumas medidas... / This dissertation intend to analyze the experience of Japan after the collapse of speculative bubbles in assets in the 1990s. Accepting that the worst is over, that is to say, that the Japanese financial crisis was finally resolved, one thing is certain; not before a “lost decade” characterized by a long period of low growth, increasing rates of unemployment, deflation in asset prices, bank failures and persistence of no-performing loans. In this context, the main responses received for this work were: the belief that economic recovery would come with the passage of time and lack of understanding about the size of the problem that the slowness of action would lead to the system; this explains in some degree the initial tolerance of the Japanese government by the economic crisis. The expansionary fiscal was effective, but not consistently used, the nature of “stop-start” of the stimuli made, and in particular the early tax reversals decreased its effectiveness, other likely factors for the low efficiency during the year 1990 were: the fiscal stimuli may have been harmed by falling tax multipliers; the effective public investments were lower than those advertised instead of giving emphasis to public works, the priority was tax cuts. On the other hand, a fundamental way to maximize the tax incentives is through the restoration of credit from the banking sector, if the recapitalization and the restorations of the sector were held in an early stage, the effects of stimuli could be short term, if the financial system was in good health. In Japan, the injections in banks “large scale” occurred only in 1999. Moreover, monetary policy, based on an alternative version of the liquidity trap led the BOJ to take some innovative measures since 2001. Centered on a strategy to ensure liquidity and extend the warranties on direct purchases of assets, quantitative easing was implanted... (Complete abstract click electronic access below)

Cette thèse est une tentative de mieux comprendre l’impact des différentes mesures prises par les banques centrales depuis 2008, et en particulier en zone Euro. Elle se concentre sur les effets des différents politiques non-conventionnelles sur le marché monétaire. Le chapitre 1 montre comment la fragmentation du marché interbancaire perturbe la transmission de la politique monétaire. Le phénomène de fragmentation est introduit dans un modèle standard de marché interbancaire. On voit alors que de la liquidité excédentaire apparaît de façon endogène dans le modèle. Cela conduit les taux d’intérêt à court terme à s’éloigner du taux de la banque centrale. Le modèle est utilisé pour analyser les politiques conventionnelles et non conventionnelles de l’Eurosystème. Le chapitre 2 explique comment le programme d’achat de titres souverains de l’Eurosystème (le PSPP) a poussé certains taux du marché monétaire en dessous du taux de la facilité de dépôt de l’Eurosystème, qui est pourtant sensé être un plancher. Le chapitre explore empiriquement les interactions entre le PSPP et les taux d’intérêts collatéralisés. Le chapitre 3 montre comment des régulations très proches de celles de Bâle III étaient utilisées par les banques centrales dans les trois décennies qui ont suivi la Seconde Guerre mondiale. A l’époque ces régulations étaient utilisées pour stabiliser l’inflation et la production, un rôle qui serait aujourd’hui typiquement attribué à la politique monétaire (et non à la régulation bancaire). Les expériences historiques que nous décrivons montrent clairement que la régulation de la liquidité a des effets restrictifs sur l’activité. / The first chapter shows how interbank market fragmentation disrupts the transmission of monetary policy. Fragmentation is the fact that banks, depending on their country of location,have different probabilities of default on their interbank borrowings. Once fragmentation is introduced into standard theoretical models of monetary policy implementation, excess liquidity arises endogenously. This leads short-term interest rates to depart from the central bank policy rates. Using data on cross-border financial flows and monetary policy operations,it is shown that this mechanism has been at work in the Euro-Area since 2008. The model is used to analyze conventional and unconventional monetary policy measures. The second chapter shows how the Euro area money market rates have been standing below the deposit facility rate since 2015, which financial markets perceive as a byproduct of Eurosystem's public sector purchase program (PSPP). This paper explores empirically the interactions between the PSPP and short term secured money market rates (repo rates). We document different channels through which asset purchases may affect the various segments of the Euro area repo market. Using proprietary data from the PSPP and individual repo transactions made on the repo market for specific securities, our results show that the PSPP has contributed to push down repo rates. Purchasing 1% of a bond outstanding is associated with a decline in its repo rate of -0.75 bps.

The importance of a currency war and its consequences is nowadays a hot topic of all economies around the world. My master thesis is designed to explain this concept, to introduce the main actors of the currency wars, the ways, in which national economies were and are trying to boost and improve their economic situation and highlight the main tools that are usually used by major powers within currency wars. The practical part is divided into three main sub-chapters that analyze the causes and consequences of currency wars, which we have previously witnessed. Analysis of the currency war I. relates to the years 1921-1936, the currency war II. relates to the period around World War II. and the formation of Bretton Woods system, and finally currency war III. relates to last years, when a superpowers like US, China and EU entered the war as a result of economic recessions of 2007.

The main focus of this thesis rests in the assessment of the quantitative easing policy impact on commodity prices and prices of commodity derivatives in the US. Several VAR models have been constructed in this paper to capture the relations between time series of monetary policy variables and commodity markets indices. The impulse-response analysis applied in the VAR models has discovered the causal connection between the QE policy and the value of commodity indices. The official announcement of initiation (extension) of the policy of the QE policy and its realization consisting of purchases of vast amount of treasury securities and federal agency debt and MBS has lead to the major commodity indices increase. Since this fact has been overlooked by Fed so far, its acceptance might enhance the realization of possible future QE policy and the valuation of the QE as a monetary policy alternative in conditions of zero-bound.

The diploma thesis is focused on the origin and development of the world financial crisis started in 2007 and its analysis. The steps taken by the European Central Bank and the Czech National Bank to respond to this crisis are then analyzed. Furthermore, the work shows the impact of the crisis and central bank measures on two selected domestic banks. At the end of the thesis are made suggestions and recommendations.

This thesis applies time-varying parameter vector autoregression (TVP-VAR) model with stochastic volatility to assess the effectiveness of quantitative easing in time for the Bank of Japan, the European Central Bank, the Bank of England and the Federal Reserve System between the global financial crisis and COVID-19 pandemic. We find pronounced and statistically significant response of GDP and level of implied stock market volatility to a QE shock whereas the response of CPI is feeble and statistically insignificant. We argue that this does not necessarily imply that there is no effect of QE on CPI but rather that our model was not able to detect it. We believe that this may be due to inflation expectations channel which our model did not account for. This can be reassessed with a TVP-FAVAR model which is more suitable for such an analysis as it can encompass a larger set of variables. Moreover, apart from the US, we report increasing effectiveness of QE in time. This is opposed by the researchers who believe that QE has rather decreasing effectiveness in time because it is more efficient during economic distress and then its efficiency tends to decrease during normal times. We explain this deviation by citing other unconventional monetary tools such as credit easing, forward guidance or negative...

Quantitative easing (QE) is an unconventional monetary policy tool used by central banks to stimulate the economy in times when conventional monetary policy is not sufficient. In the wake of covid-19, central banks around the world has announced significant increases in their QE-programs. This research paper aims to find out whether quantitative easing has any statistically significant effect on the stock prices of the Swedish real estate market. Moreover, it aims to produce an indication of the direction of the real estate stock prices over the year of 2020. To those ends, a combination of statistical analysis and economic theory is used. We estimate three Autoregressive Distributed Lag (ARDL) models. For a chosen model, an out-of-sample prediction is carried out as a way to model future stock price movements. We conclude that quantitative easing indeed has a statistically significant effect on real estate stock prices in Sweden. Furthermore, we estimate that stock prices in the real estate sector will see negative movements during the second and third quarter of 2020, followed by a return to positives during the fourth quarter. / Kvantitativa lättnader (QE) är ett redskap inom okonventionell penningpolitik som används av centralbanker för att stimulera ekonomin när konventionella metoder inte är tillräckliga. I kölvattnet av covid-19 så har centralbanker runt om i världen meddelat kraftiga ökningar i deras program för kvantitativa lättnader. Den här uppsatsen syftar till att ta reda på om kvantitativa lättnader har någon statistiskt signifikant påverkan på priserna för fastighetsaktier som handlas på öppen marknad i Sverige. Därutöver syftar den till att ge en anvisning kring i vilken riktning priserna på dessa aktier kommer röra sig under 2020. För dessa ändamål används en kombination av statistisk analys och ekonomisk teori. Vi estimerar tre Autoregressive Distributed Lag (ARDL) modeller. För en av modellerna görs en out-of-sample prediktion för att modellera framtida prisrörelser på aktiemarknaden. Utifrån våra modeller och analys kan vi konstatera att kvantitativa lättnader har en effekt på priserna för fastighetsaktier. Vidare så estimerar vi att priserna på fastighetsaktier kommer röra sig i en negativ riktning under andra och tredje kvartalet 2020, för att sedan svänga tillbaka till positiva rörelser under fjärde kvartalet.