We investigate the practical use of Taylor-type rules in Trinidad and Tobago, which is in the process of implementing market based monetary policy and seeks to implement flexible inflation targeting in the presence of a managed exchange rate. This is motivated by the idea that normative Taylor rules can be shaped by the practical experience of developing countries. We find that the inflation – exchange rate nexus is strong, hence the country may be unwilling to allow the exchange rate to float freely. We contend that despite weak market development the Taylor rule can still be applied as the central bank is able to use moral suasion to achieve full pass through of the policy rate to the market rate. Our evidence rejects Galí and Monacelli’s (2005) argument that the optimal monetary policy rule for the open economy is isomorphic for a closed economy. Rather, our evidence suggests that the rule for the open economy allows for lower variability when the rule is augmented by the real exchange rate as in Taylor (2001). We also reject Galí and Monacelli’s (2005) hypothesis that domestic inflation is optimal for inclusion in the Taylor-type rule. Instead we find that core CPI inflation leads to lower variability. Additionally, our evidence suggests that the monetary rule, when applied to Trinidad and Tobago, is accommodating to the US Federal Reserve rate. Further, we expand the work of Martin and Milas (2010) which considered the pass through of the policy rate to the interbank rate in the presence of risk and liquidity. By extending the transmission to the market lending rate, we are able to go beyond those disruptive factors by considering excess liquidity and spillovers of international economic disturbances. We found that these shocks are significant for Trinidad and Tobago, but it is not significant enough to disrupt the pass through. As a result, full pass through was robust to the presence of these disruptive factors.

Dans le cas des DOM, singulièrement la Guadeloupe, qui sont à l'aube de l'expérimentation de réformes profondes de politiques économiques, l'élaboration d'un outil de simulation macroéconomique tel qu'un MEGC apparaît naturellement comme une exigence plus que souhaitable. Ce recours à la construction de modèles spécifiques pour les DOM est en parfaite cohérence avec l'une des principales conclusions du rapport d'information diligenté par le Sénat aux lendemains de la crise sociale du début de l'année 2009. Les appels à projet de la Commission europèenne et du Ministère de l'Outre-mer vont justement dans le sens de pallier celte carence puisque la politique économique des RUP de façon générale est conduite à vue sans aucun outil d'investigation ex ante. Nous avons conçu plusieurs modèles. Parmi eux, CloDyn est le premier modèle macroéconomique pour les DOM à vocationopérationnelle. Composée de plus de 2000 équations, ce modèle d'équilibre général calculable tient compte de nombreuses rigidités sur les marchés des biens et services et du travail et se décline sous deux versions: statique et dynamique. Les élasticités ont fait l'objet d'estimations économétriques. Il tient compte de nombreuses spécificités tant au niveau de la fiscalité de ces régions (octroi de mer, taxe sur les carburants, subventions à l'exportation) que du coût des facteurs (exonérations des charges sur les bas salaires, sur rémunératio des fonctionnaires). Il repose sur une formalisation des mécanismes en oeuvre dans ces économies que nous avons appelé le DOM disease pour expliquer les dysfonctionnements persistants sur le plan macroéconomique. / In the case of the French overseas regions, particularly of Guadeloupe, which are just beginning to experiment with economic policies radical reforrns, the development of a macroeconomic simulation tool such as a CGE model appears naturally as a highly desirable requirement. The use of the construction of specifie models for DOM is fully consistent with a major finding of the report commissioned by the Senate in the aftermath of the social crisis of the early 2009. As a malter of facts, the purpose of the calls for project initiated by the European Commission and the Ministry of Overseas is to remedy this deficiency, since the RUP economie policy is generally to conduct no investigation tool ex ante. We designed several models. Among them, CloDyn is the first operational DOM-based macroeconomic rnodel. Composed of more than 2000 equations, this computable general equilibrium model takes into account many rigidities in the markets for goods and services and labor and is available in two versions: static and dynamic. Elasticities have been econometrically estimated. lt rests on many features of both taxation (dock dues, fuel tax, export subsidies) and the cost factors (exemption from charges on low wages, remuneration of civil servants). Il is based on a formalization of the mechanisms at work in these economies we calied the DOM disease to explain the persistent failures in such economies. lt also evaluates the monetary poverty among households with the use of a block of microsimulation model and we allow a profane in GAMS to use this tool and conduct its own analytical work thanks to a user friendly interface.

Submitted by JOSIANE SANTOS DE OLIVEIRA (josianeso) on 2018-03-28T16:33:04Z No. of bitstreams: 1 Jurandir Luiz Buchmann_.pdf: 472488 bytes, checksum: f0128dcf057ad2245a14aba0c7298afd (MD5) / Made available in DSpace on 2018-03-28T16:33:04Z (GMT). No. of bitstreams: 1 Jurandir Luiz Buchmann_.pdf: 472488 bytes, checksum: f0128dcf057ad2245a14aba0c7298afd (MD5) Previous issue date: 2017-12-21 / CAPES - Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / O objetivo do estudo é analisar as oportunidades de comércio a partir da simulação de uma possível integração comercial do Brasil com a China, com os EUA e com a UE, buscando identificar os setores mais beneficiados pelo eventual acordo, classificados de acordo com seu grau de intensidade tecnológica, com ênfase no agronegócio brasileiro e, em especial, no setor de produtos florestais. Empregou-se a classificação de produtos por grau de intensidade tecnológica segundo os critérios da Organização para Cooperação e Desenvolvimento Econômico (OCDE) e foi utilizado o modelo de equilíbrio geral computável, mediante uso da base de dados Global Trade Analysis Project (GTAP), versão 9, para simular os impactos sobre o comércio internacional e os efeitos sobre o bem-estar de uma possível integração comercial do Brasil com os parceiros selecionados. Por fim, os resultados obtidos mostram que os ganhos de bem-estar para o Brasil, em todos os acordos, estão principalmente vinculados a melhor alocação dos seus recursos produtivos, que estariam concentrados basicamente nos setores primários e de baixa intensidade tecnológica, que agregaria o agronegócio e, em especial, o setor florestal. / The objective of the study is to analyze trade opportunities by simulating a possible trade integration between Brazil and China, with the US and with the EU, seeking to identify the sectors most benefited by the eventual agreement, classified according to their degree of technological intensity, with emphasis on Brazilian agribusiness and, in particular, on the forest products sector. The classification of products by level of technological intensity according to the criteria of the Organization for Economic Cooperation and Development (OECD) was used and the computable general equilibrium model was used, using the Global Trade Analysis Project (GTAP) database, version 9, to simulate the impacts on international trade and the welfare effects of a possible trade integration of Brazil with selected partners. Finally, the results show that welfare gains for Brazil, in all agreements, are mainly related to the better allocation of its productive resources, which would be basically concentrated in the primary sectors and of low technological intensity, which would add the agribusiness and, in particular, the forestry sector.

Penningtvätt är ett ämne som under de senaste åren fått mycket uppmärksamhet. Nya lagar och regleringar med målsättningen att förebygga och bekämpa penningtvätt har införts. För att uppskatta problemets storlek har ett flertal estimat beräknats med hjälp av olika metoder. I denna uppsats har vi valt att fokusera på de metoder som används för att beräkna estimat, då det finns tecken som tyder på att estimaten som beräknas sällan utsätts för kritik.Syftet med uppsatsen har varit att undersöka och jämföra tre av de idag vanligaste metoderna för att beräkna penningtvättens storlek. De vanligaste modellerna är Walkermodellen, Zdanowicz metoder för handelsbaserad penningtvätt och en två-sektor modell vilka har utgjort fokus i denna studie. Studien är av kvalitativ karaktär med en induktiv ansats där empirin består av de utvalda metoderna.Att göra en exakt mätning av storleken på penningtvätten är naturligtvis inte möjligt, utan det handlar istället om att göra en så bra uppskattning som möjligt. Resultatet av vår undersökning visar att de tre metoderna skiljer sig helt från varandra. Vilken metod som är lämpligast beror på sammanhanget, vilket är viktigt att ha i åtanke när någon tar del av de estimat som beräknats. Zdanowicz metod mäter exempelvis inte total penningtvätt för ett land, men är samtidigt den som bäst mäter kapitalförflyttning vid handel mellan länder. Av de tre metoder vi tagit upp i vår undersökning är Walkermodellen den som lämpar sig bäst för att beräkna penningtvätten globalt, men den har en svaghet i att den till stor del förlitar sig på experters kunskaper och erfarenheter. Två-sektor modellen har sin utgångspunkt i mikroekonomisk teori och får anses ha en högre reliabilitet än Walkermodellen, men går dock inte att tillämpa globalt på samma sätt som Walkermodellen. Två-sektormodellen mäter heller inte hur mycket pengar som tvättas mellan länder så som de andra två metoderna gör. / Program: Civilekonomprogrammet

The main objective of the doctorate thesis was to explore the causes of the current state of relations between the EU and Russia and to provide substantiation for future effective cooperation. The main analytical assumption of the thesis is that deeper regional economic cooperation creates positive effects for improvement of economic relations. Based on that assumption a complex exploratory framework with solid theoretical grounding was created in order to evaluate potential gains from trade liberalization scenarios between the EU and Russia. Main research is focused on the three following areas: historical background of economic relations, current developments and perspectives of the future cooperation in light of trade liberalization. Historical background of common economic relations stems from political and economic development on both sides, legal and institutional framework and problematic areas. Current development of trade and economic relations is based on analysis of trade flows in goods, trade in services and capital flows. Analysis of the future development is based on three liberalization scenarios: - Accession of Russia to the World Trade Organization (WTO), - Free trade agreement (FTA) -- scrapping customs tariffs between the EU and Russia, - Comprehensive free trade agreement (FTA+) -- reduction of non-tariff barriers to trade, liberalization of trade in services and capital flows, regulatory harmonization. Meta-analysis of different computable general equilibrium (CGE) modeling is used to evaluate the liberalization scenarios. Research results proved positive effects of trade liberalization for both sides. However, comprehensive free trade agreement seems to be the most effective form of trade liberalization with maximum economic welfare gains for the EU and the Russian Federation.

Submitted by Silvana Teresinha Dornelles Studzinski (sstudzinski) on 2017-04-17T19:16:40Z No. of bitstreams: 1 Alícia Cechin_.pdf: 515927 bytes, checksum: 0cbde681385e2cdfaa91d02496e274b7 (MD5) / Made available in DSpace on 2017-04-17T19:16:40Z (GMT). No. of bitstreams: 1 Alícia Cechin_.pdf: 515927 bytes, checksum: 0cbde681385e2cdfaa91d02496e274b7 (MD5) Previous issue date: 2017-02-16 / CNPQ – Conselho Nacional de Desenvolvimento Científico e Tecnológico / O aumento dos Acordos Preferenciais de Comércio (APCs) tem modificado o cenário do comércio internacional. No caso brasileiro, o país se mostra relativamente isolado no cenário das negociações comerciais preferenciais, não possuindo um conjunto de acordos comerciais importantes com parceiros extra-regionais. Nesse sentido, o estudo busca examinar através de um modelo de equilíbrio geral computável (GTAP), os efeitos que a criação de APCs com importantes parceiros comerciais do Brasil teria sobre variáveis-chave para a economia, especialmente bem-estar e comércio internacional. Além das reduções das tarifas de importação, o trabalho também explorou os efeitos da redução das barreiras não-tarifárias (BNTs). Os impactos da formação de acordos de livre comércio geralmente se concentram naqueles setores mais protegidos antes da criação do bloco. Nas simulações realizadas neste trabalho, isso também se observou. Os resultados mostraram um aumento expressivo nas exportações de produtos primários e de baixa intensidade tecnológica, quando simulada a redução parcial e plena das tarifas de importação, no entanto quando simula-se além da redução das tarifas de importação a redução das BNTs, verifica-se que o sistema produtivo brasileiro pode ser afetado de diferente forma. Com a redução plena de tarifas e BNTs, as exportações brasileiras de setores de maior conteúdo tecnológico seriam as mais beneficiadas, enquanto a liberalização parcial das BNTs, além de reduzir a magnitude das exportações em todos os acordos, iria estimular mais setores de menor conteúdo tecnológico em vários acordos. No que se refere ao ganho de bem-estar, verifica-se o mesmo comportamento das exportações, mas quando ocorre a redução das BNTs, o maior ganho de bem-estar é obtido em setores de maior intensidade tecnológica. / The increase in the PTAs (Preferential Trade Agreements) has modified the international trade scenario, in the case of Brazil, the country appears to be relatively isolated in the context of trade negotiations, lacking a set of important trade agreements with extra-regional partners. In this sense, the study seeks to examine, through a computable general equilibrium model (GTAP), the effects that the creation of PTAs with important trade partners of Brazil would have on key variables for the economy, especially welfare and trade International. In addition to the reduction of import tariffs, the work also explored the effects of reducing non-tariff barriers (NTBs). The impacts of forming free trade agreements generally focus on those sectors most protected before the bloc was created. In the simulations performed in this work, this was also observed. The results show a significant increase in exports of primary products and low technological intensity, when simulated the partial and full reduction of import tariffs, however, when the reduction of NTBs is allowed in addition to the reduction of import tariffs, it is verified that the Brazilian productive sector can be affected differently. With the full reduction of tariffs and NTBs, Brazilian exports of sectors with higher technological content would be the most benefited, while the partial liberalization of NTBs, besides reducing the magnitude of exports in all agreements, would stimulate more sectors of lower technological content in most agreements. With regard to welfare gains, the same behavior of exports is observed, when reduction of NTBs occur, the greatest welfare gain is obtained in sectors of higher technological intensity.

<p>Fosfaters reaktioner i energiomvandlingsprocesser är kritisk för den generella processen som helhet, för askrelaterade problem, emissioner liksom för en effektiv och hållbar användning av askan.</p><p>Denna avhandling är en sammanställning och diskussion med utgångspunkt i åtta artiklar som behandlar strukturella och termodynamiska studier på faser i CaO-K₂O-P₂O₅-systemet, vilka är av relevans inom förbränning av biomassa. Målsättningen med denna avhandling var: i) att sammanställa och granska tillgängliga strukturella och termodynamiska data i CaO-K₂O-P₂O₅-systemet samt att identifiera avsaknad av data, ii) att fylla i dessa luckor med grundläggande termodynamiska, strukturella och fasstabilitets studier samt iii) att visa på användning samt fördelarna med dessa nya data vid praktisk tillämpning.</p><p>En initial litteraturundersökning i CaO-K₂O-P₂O₅-systemet visade att det saknades både strukturella och termodynamiska data. När det gällde tillgängliga termodynamiska data var situationen särskilt otillfredsställande. Det fanns endast data för några kalcium– och kaliumfosfater med varierande tillförlitlighet. Situationen beträffande pulverröntgen för fasidentifiering var bättre, fast fördunklad av det faktum att strukturellt liknande fasövergångar ofta förekommer i det undersökta systemet. Däremot fattades det tillfredställande enkristallstrukturdata för ternära faser i det undersökta systemet.</p><p>Enkristallröntgendiffraktion användes för att bestämma strukturerna för CaK₂P₂O₇, CaKP₃O₉, Ca₁₀K(PO₄)₇ och CaKPO₄. Faserna CaK₂P₂O₇ and CaKPO₄ tillsammans med Ca₃(PO₄)₂, KPO₃ och K₄P₂O₇ studerades med pulverröntgendiffraktion och termiska analysmetoder för att klargöra fasmodifikationer och övergångstemperaturer. Gibbs bildningsenergi bestämdes för Ca(PO₃)₂, Ca₂P₂O₇, Ca₃(PO₄)₂, Ca₁₀K(PO₄)₇, CaK₂P₂O₇, CaKPO₄ och CaK₄(PO₄)₂ med ems-metodik och yttriastabiliserad zirkonia som fast elektrolyt och Ni/Ni₃P som hjälpsystem. Både de strukturella och termodynamiska data användes sedan vid analyser i ett förbrännningexperiment av olika sädesslag. Framtagna data användes både vid identifiering och även vid kvantifiering av bildade faser i biomassaresterna.</p> / <p>The behaviour of phosphates in thermochemical biomass conversion processes are critical for the general process chemistry, for ash related problems, for emissions as well as for an efficient, sustainable and beneficial use of the ash residues.</p><p>This thesis is a summary and a discussion of eight papers dealing with structural and thermodynamical studies of phases in the CaO-K₂O-P₂O₅ system, with relevance for biomass combustion. The objectives were: i) to compile and review the available structural and thermodynamical data of phases in the CaO-K₂O-P₂O₅ system as well as to identify existing gaps in the field of these data, ii) to fill in as many as possible of the gaps by fundamental thermodynamic, structural and phase stability studies and iii) to demonstrate the uses and the benefits of the new data in practical applications.</p><p>An initial review of the CaO-K₂O-P₂O₅ system showed that both structural information and thermodynamic data were lacking. The situation regarding the available thermodynamic data was especially unsatisfactory, data could only be found for some few calcium phosphates and a few potassium phosphates with varying reliability. Concerning powder X-ray diffraction patterns for phase identification the situation was better, though obscured by the fact that structurally close related phase transitions often occur in the studied system. However, adequate single crystal structural data of ternary phases in the system was completely missing.</p><p>Crystal structures of CaK₂P₂O₇, CaKP₃O₉, Ca₁₀K(PO₄)₇ and CaKPO₄ were determined by single-crystal X-ray diffraction. The phases CaK₂P₂O₇ and CaKPO₄ were together with Ca₃(PO₄)₂, KPO₃ and K₄P₂O₇, investigated by powder X-ray diffraction and thermal analysis to elucidate phase modifications and transitions temperatures. Gibbs standard energy of formation was determined for Ca(PO₃)₂, Ca₂P₂O₇, Ca₃(PO₄)₂, Ca₁₀K(PO₄)₇, CaK₂P₂O₇, CaKPO₄ and CaK₄(PO₄)₂ by solid state emf measurements with yttria stabilised zirconia as solid electrolyte and Ni/Ni₃P as auxiliary solid couple. Both the structural and thermodynamical data were subsequently utilised in analysis of a combustion experiment of cereal grains. The data were also used to both identify and quantify the phases formed in biomass combustion residues.</p>

Fosfaters reaktioner i energiomvandlingsprocesser är kritisk för den generella processen som helhet, för askrelaterade problem, emissioner liksom för en effektiv och hållbar användning av askan. Denna avhandling är en sammanställning och diskussion med utgångspunkt i åtta artiklar som behandlar strukturella och termodynamiska studier på faser i CaO-K2O-P2O5-systemet, vilka är av relevans inom förbränning av biomassa. Målsättningen med denna avhandling var: i) att sammanställa och granska tillgängliga strukturella och termodynamiska data i CaO-K2O-P2O5-systemet samt att identifiera avsaknad av data, ii) att fylla i dessa luckor med grundläggande termodynamiska, strukturella och fasstabilitets studier samt iii) att visa på användning samt fördelarna med dessa nya data vid praktisk tillämpning. En initial litteraturundersökning i CaO-K2O-P2O5-systemet visade att det saknades både strukturella och termodynamiska data. När det gällde tillgängliga termodynamiska data var situationen särskilt otillfredsställande. Det fanns endast data för några kalcium– och kaliumfosfater med varierande tillförlitlighet. Situationen beträffande pulverröntgen för fasidentifiering var bättre, fast fördunklad av det faktum att strukturellt liknande fasövergångar ofta förekommer i det undersökta systemet. Däremot fattades det tillfredställande enkristallstrukturdata för ternära faser i det undersökta systemet. Enkristallröntgendiffraktion användes för att bestämma strukturerna för CaK2P2O7, CaKP3O9, Ca10K(PO4)7 och CaKPO4. Faserna CaK2P2O7 and CaKPO4 tillsammans med Ca3(PO4)2, KPO3 och K4P2O7 studerades med pulverröntgendiffraktion och termiska analysmetoder för att klargöra fasmodifikationer och övergångstemperaturer. Gibbs bildningsenergi bestämdes för Ca(PO3)2, Ca2P2O7, Ca3(PO4)2, Ca10K(PO4)7, CaK2P2O7, CaKPO4 och CaK4(PO4)2 med ems-metodik och yttriastabiliserad zirkonia som fast elektrolyt och Ni/Ni3P som hjälpsystem. Både de strukturella och termodynamiska data användes sedan vid analyser i ett förbrännningexperiment av olika sädesslag. Framtagna data användes både vid identifiering och även vid kvantifiering av bildade faser i biomassaresterna. / The behaviour of phosphates in thermochemical biomass conversion processes are critical for the general process chemistry, for ash related problems, for emissions as well as for an efficient, sustainable and beneficial use of the ash residues. This thesis is a summary and a discussion of eight papers dealing with structural and thermodynamical studies of phases in the CaO-K2O-P2O5 system, with relevance for biomass combustion. The objectives were: i) to compile and review the available structural and thermodynamical data of phases in the CaO-K2O-P2O5 system as well as to identify existing gaps in the field of these data, ii) to fill in as many as possible of the gaps by fundamental thermodynamic, structural and phase stability studies and iii) to demonstrate the uses and the benefits of the new data in practical applications. An initial review of the CaO-K2O-P2O5 system showed that both structural information and thermodynamic data were lacking. The situation regarding the available thermodynamic data was especially unsatisfactory, data could only be found for some few calcium phosphates and a few potassium phosphates with varying reliability. Concerning powder X-ray diffraction patterns for phase identification the situation was better, though obscured by the fact that structurally close related phase transitions often occur in the studied system. However, adequate single crystal structural data of ternary phases in the system was completely missing. Crystal structures of CaK2P2O7, CaKP3O9, Ca10K(PO4)7 and CaKPO4 were determined by single-crystal X-ray diffraction. The phases CaK2P2O7 and CaKPO4 were together with Ca3(PO4)2, KPO3 and K4P2O7, investigated by powder X-ray diffraction and thermal analysis to elucidate phase modifications and transitions temperatures. Gibbs standard energy of formation was determined for Ca(PO3)2, Ca2P2O7, Ca3(PO4)2, Ca10K(PO4)7, CaK2P2O7, CaKPO4 and CaK4(PO4)2 by solid state emf measurements with yttria stabilised zirconia as solid electrolyte and Ni/Ni3P as auxiliary solid couple. Both the structural and thermodynamical data were subsequently utilised in analysis of a combustion experiment of cereal grains. The data were also used to both identify and quantify the phases formed in biomass combustion residues.

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