We propose a model to study government formation by a legislative body composed by parties elected with a proportional representation rule. Once the legislative configuration is determined, the elected parties must form a government, choose a government policy and a distribution of legislative resources and benefits among the elected parties through a bargaining game. A mass of voters is assumed capable of voting strategically. Our goal is to study how a limitation on the available resources among legislators may affect the behavior of the agents involved in this system, both voters and legislators. We show that a decrease in the relative distance between ideologies increases the social welfare and decreases the necessary amount of resources to keep the optimal agreement. Moreover, there is an upper limit to this amount when the ideological distance increases / Propõe-se um modelo teórico para estudar a formação de governo por um corpo legislativo, composto por partidos eleitos em representação proporcional. Uma vez que a configuração do Legislativo é definida, os partidos eleitos devem formar um governo, escolher uma política de governo e uma distribuição de recursos e benefícios legislativos entre os partidos presentes na casa através de um jogo de barganha. Uma massa de eleitores é assumida capaz de votar estrategicamente. Nosso objetivo é estudar como uma limitação nos recursos disponíveis entre os legisladores pode afetar o comportamento dos agentes envolvidos no sistema, tanto eleitores quanto legisladores. Mostra-se que uma queda da distância relativa entre as ideologias aumenta o bem-estar social e diminui a quantia necessária de recursos que mantem o acordo legislativo ótimo. Ademais, há um limite superior para essa quantia quando a distância ideológica aumenta.

Abstract The topic of an overheated housing market, in Sweden, has been extensively discussed, not least by the media. This thesis will contribute to the debate by answering the question whether a potential price bubble exists in the Swedish housing market. Years between 1984 and 2004 are analysed using conventional metrics, which include house price-to- rent and income ratios respectively, changes in the dynamics of real house prices, as well as demographic variations. The analyse continues with the use of the imputed rent, also known as the yearly cost of ownership. Moreover the fundamental factors; interest rates, indebtedness and turnover of houses are discussed. It will be concluded that the conventional measures can be misleading. The imputed rent is a superior measure since it is the true cost of ownership and it accounts for changes in important determinants of house demand, mainly the interest rate. The answer to the title of this paper is; no, house prices (in 2004) in Sweden did not appear to be particularly overvalued, neither when compared to yearly rents in the tenancy market, disposable incomes, nor when low levels of interest rates are taken into account. However, this does not rule out that house prices cannot fall in the near future. / Sammanfattning Denna kandidatuppsats behandlar ämnet om en möjlig husprisbubbla i Sverige. Sedvanliga tekniker som används vid analysering av prisbubblor innefattar användandet av proportionen mellan huspriser och hyror samt disponibla inkomster. Även dynamiken i reella huspriser och demografiska förändringar utvärderas. I denna analys jämförs åren mellan 1984 och 2004 genom att använda “imputed rent”, vilken representerar den årliga kostnaden av ägande. Även fundamentala faktorer som räntan, skuldsättningen samt omsättningen av hus undersöks. Den slutsats som uppsatsen resulterar i understryker att de sedvanliga bruken kan vara vilseledande och att ”imputed rent” är en bättre teknik. Detta eftersom ”imputed rent” representerar den verkliga kostnaden av ägande samt inbegriper viktiga avgörande faktorer, som räntan. Därför är svaret på titeln; nej, huspriserna (år 2004) i Sverige förefaller sig inte vara särskilt övervärderade, när de jämförs med årliga hyror av likvärdiga hyresrättslägenheter och disponibla inkomster, samt när hänsyn tas till den låga räntan. Detta utesluter dock inte en framtida nedgång av huspriserna.

<p>Abstract</p><p>The topic of an overheated housing market, in Sweden, has been extensively discussed, not least by the media. This thesis will contribute to the debate by answering the question whether a potential price bubble exists in the Swedish housing market. Years between 1984 and 2004 are analysed using conventional metrics, which include house price-to- rent and income ratios respectively, changes in the dynamics of real house prices, as well as demographic variations. The analyse continues with the use of the imputed rent, also known as the yearly cost of ownership. Moreover the fundamental factors; interest rates, indebtedness and turnover of houses are discussed.</p><p>It will be concluded that the conventional measures can be misleading. The imputed rent is a superior measure since it is the true cost of ownership and it accounts for changes in important determinants of house demand, mainly the interest rate. The answer to the title of this paper is; no, house prices (in 2004) in Sweden did not appear to be particularly overvalued, neither when compared to yearly rents in the tenancy market, disposable incomes, nor when low levels of interest rates are taken into account. However, this does not rule out that house prices cannot fall in the near future.</p> / <p>Sammanfattning</p><p>Denna kandidatuppsats behandlar ämnet om en möjlig husprisbubbla i Sverige. Sedvanliga tekniker som används vid analysering av prisbubblor innefattar användandet av proportionen mellan huspriser och hyror samt disponibla inkomster. Även dynamiken i reella huspriser och demografiska förändringar utvärderas.</p><p>I denna analys jämförs åren mellan 1984 och 2004 genom att använda “imputed rent”, vilken representerar den årliga kostnaden av ägande. Även fundamentala faktorer som räntan, skuldsättningen samt omsättningen av hus undersöks. Den slutsats som uppsatsen resulterar i understryker att de sedvanliga bruken kan vara vilseledande och att ”imputed rent” är en bättre teknik. Detta eftersom ”imputed rent” representerar den verkliga kostnaden av ägande samt inbegriper viktiga avgörande faktorer, som räntan. Därför är svaret på titeln; nej, huspriserna (år 2004) i Sverige förefaller sig inte vara särskilt övervärderade, när de jämförs med årliga hyror av likvärdiga hyresrättslägenheter och disponibla inkomster, samt när hänsyn tas till den låga räntan. Detta utesluter dock inte en framtida nedgång av huspriserna.</p>

Submitted by Rodson Heringer (rodsonheringer@gmail.com) on 2014-08-19T13:35:04Z No. of bitstreams: 1 Rodson Heringer_vfinal.pdf: 585514 bytes, checksum: 47c7b742f2da43456fabe8d31c914054 (MD5) / Rejected by JOANA MARTORINI (joana.martorini@fgv.br), reason: As paginas continuam numeradas. A numeração das paginas deverão ser contadas a partir do índice. on 2014-08-19T13:40:45Z (GMT) / Submitted by Rodson Heringer (rodsonheringer@gmail.com) on 2014-08-19T14:14:49Z No. of bitstreams: 1 Rodson Heringer_vfinal.pdf: 586286 bytes, checksum: d42505429c5f0cbf765dd2d32c6cb066 (MD5) / Approved for entry into archive by JOANA MARTORINI (joana.martorini@fgv.br) on 2014-08-19T14:15:57Z (GMT) No. of bitstreams: 1 Rodson Heringer_vfinal.pdf: 586286 bytes, checksum: d42505429c5f0cbf765dd2d32c6cb066 (MD5) / Made available in DSpace on 2014-08-19T16:15:00Z (GMT). No. of bitstreams: 1 Rodson Heringer_vfinal.pdf: 586286 bytes, checksum: d42505429c5f0cbf765dd2d32c6cb066 (MD5) Previous issue date: 2014-08-04 / Este trabalho analisa a variação da taxa de aluguel e do custo de moradia nas cidades de São Paulo e Rio de Janeiro para o período de Janeiro de 2008 a Janeiro de 2014 utilizando uma abordagem quantitativa com base na expectativa de longo prazo da taxa de juros reais, na expectativa de inflação e na valorização do preço dos imóveis em uma janela de 1 ano. Os resultados indicam que a expectativa de longo prazo da taxa de juros reais tem um impacto relevante na variação da taxa de aluguel durante o período abordado, bem como a expectativa de inflação, mas em magnitude menor, enquanto a valorização passada de 1 ano não tem poder explicativo sobre a taxa de aluguel. / We examine the variation of the rent-to-price ratio in the cities of Sao Paulo and Rio de Janeiro from January 2008 to January 2014 using a quantitative approach based on the expected long-term real interest rate, the expected inflation rate and the price appreciation of real estate during the last twelve months. The results indicate that the expected long-term real interest rate has a significant impact on the variation of the rent-to-price ratio during the period covered, as well as the expected inflation, but to a lesser degree, while the past price appreciation has no explanatory power.

We propose a model to study government formation by a legislative body composed by parties elected with a proportional representation rule. Once the legislative configuration is determined, the elected parties must form a government, choose a government policy and a distribution of legislative resources and benefits among the elected parties through a bargaining game. A mass of voters is assumed capable of voting strategically. Our goal is to study how a limitation on the available resources among legislators may affect the behavior of the agents involved in this system, both voters and legislators. We show that a decrease in the relative distance between ideologies increases the social welfare and decreases the necessary amount of resources to keep the optimal agreement. Moreover, there is an upper limit to this amount when the ideological distance increases / Propõe-se um modelo teórico para estudar a formação de governo por um corpo legislativo, composto por partidos eleitos em representação proporcional. Uma vez que a configuração do Legislativo é definida, os partidos eleitos devem formar um governo, escolher uma política de governo e uma distribuição de recursos e benefícios legislativos entre os partidos presentes na casa através de um jogo de barganha. Uma massa de eleitores é assumida capaz de votar estrategicamente. Nosso objetivo é estudar como uma limitação nos recursos disponíveis entre os legisladores pode afetar o comportamento dos agentes envolvidos no sistema, tanto eleitores quanto legisladores. Mostra-se que uma queda da distância relativa entre as ideologias aumenta o bem-estar social e diminui a quantia necessária de recursos que mantem o acordo legislativo ótimo. Ademais, há um limite superior para essa quantia quando a distância ideológica aumenta.

Submitted by Renata Lopes (renatasil82@gmail.com) on 2016-09-27T13:40:49Z No. of bitstreams: 1 carolinamoraessarmentodeassis.pdf: 1036311 bytes, checksum: 483fffca9ef9bc9e0b5c555f68e7b621 (MD5) / Approved for entry into archive by Diamantino Mayra (mayra.diamantino@ufjf.edu.br) on 2016-09-27T15:15:20Z (GMT) No. of bitstreams: 1 carolinamoraessarmentodeassis.pdf: 1036311 bytes, checksum: 483fffca9ef9bc9e0b5c555f68e7b621 (MD5) / Made available in DSpace on 2016-09-27T15:15:20Z (GMT). No. of bitstreams: 1 carolinamoraessarmentodeassis.pdf: 1036311 bytes, checksum: 483fffca9ef9bc9e0b5c555f68e7b621 (MD5) Previous issue date: 2016-06-30 / FAPEMIG - Fundação de Amparo à Pesquisa do Estado de Minas Gerais / Esta dissertação teve por objetivo investigar os efeitos da participação de mercado das firmas sobre os salários que pagam por ocupação, para os setores extrativista e de transformação da economia brasileira, no período de 2007 a 2013. A base de dados utilizada foi um painel de microdados conectáveis ocupação-firma, construída a partir de dados do Relatório Anual de Informações Sociais Identificada (RAIS) e da Pesquisa Industrial Anual (PIA-Empresa). O controle das heterogeneidades não-observadas da firma e dos choques ocupacionais foi realizado em duas etapas: a primeira etapa consistiu em eliminar os efeitos não observados das firmas; com as variáveis em diferença, a segunda etapa consistiu em estimar um modelo de efeitos-fixos, por meio do qual eliminou-se os choques ocupacionais. Os resultados apontam haver relação positiva e significativa entre a participação de mercado das firmas e os salários que pagam por ocupação. Os coeficientes encontrados, contudo, são inferiores àqueles reportados para os países desenvolvidos, indicando este fator como menos relevante para os diferenciais salariais no país. Ademais, o Lester range foi de 9% após o controle para os efeitos não observados, valor aquém daqueles reportados na literatura internacional. A agregação dos dados por ocupação-firma, considerando a maior desagregação disponível para a ocupação, bem como a especificação de um modelo de efeitos-fixos capaz de controlar dois tipos de heterogeneidade não observada, contribuiu para a literatura ao apresentar uma nova possibilidade de estimação dos modelos que tratam esse tema, posto que estimam um modelo sem incorrer em prejuízos amostrais. Ademais, a existência de uma escassa literatura acerca desse tema para o Brasil, como também para os países em desenvolvimento, reforça a relevância deste estudo. / This work aimed to investigate the effects of firm’s product market market-power on occupational wages on Brazilian manufacturing firms, between 2007 and 2013. This study used detailed occupation and firm-level matched data, based on our merging of two different data sets: the Annual Report of Social Information (RAIS) and the Annual Industrial Survey (PIA-Enterprise). The control of unobserved heterogeneity of the firms and the occupations was performed in two stages: the first stage eliminates unobserved effects of firms; with the variables in difference, in a second stage, one could estimate a model of fixed effects, by which the occupational shock is eliminated. The results shows a positive and significant relationship between the firm’s market-share and occupational wages. The coefficients found, however, are lower than those reported for developed countries. Moreover, after controlling for both fixed effects, Lester Range was 9%, value below those reported in the literature. The aggregation of data by cell of occupation-firm, considering the further breakdown available for occupation, as well as the specification of a fixed effects model able to control two types of unobserved heterogeneity, contributed to the literature by presenting a new possibility for the estimation of models that address this issue, since they estimate a model without incurring sample losses. Moreover, the existence of a limited literature on this subject for Brazil, and also for developing countries, reinforces the relevance of this study.

The task of the thesis is to determine the economic rent for passive residential building. Work first defines the essential terms related to the topic of economic rent, then it continues with theoretical determination of the economic rent, which consists of the costs and a reasonable profit. The determination of economic rent for residental Pasove building is done through inserting real values to a pre-described method of calculation. The result of diploma thesis is the determination of economic rents in number of 8 variants with varying degrees of capitalization levels and discount rates. Identified economic rents are finally compared by direct comparison with similar flats and evaluated.

This diploma thesis examines market rents of flats in the town of Olomouc. It probes the condition of the local real-estate flat rent market and it assesses which factors affect the price the most. That is achieved on the basis of data of realized rents gathered via questionnaire and complemented with the supply real-estate prices. The data are sorted into four categories (1+1 a 1+k, 2+1 a 2+k, 3+1 a 3+k, 4+1 a 4+k) that are mutually compared and analyzed with textual, table and graphic output. In the theoretical part of this work, the research is supported with juridical and economical definitions, which appear on the real-estate flat market. The work then states the specifics of real-estate market and comments on the changes in the new civil code of law. It also gives a brief overview of the basics of the housing policy theory.

The fact that there is a housing shortage in Stockholm is discussed regularly in the media today. Stockholm municipality owns about 70 percent of all land in the municipality and in the role as landowner, the municipality has the opportunity to influence where and what, within the municipality, there is to be built. In this paper, we have looked at the Norra Djurgårdsstaden project, Norra 2 and discovered that there are significant differences in how the city provides land for condominiums and tenancy apartments. We have in particular looked at how the land allocation and the pricing of the land have been made. In Stockholm municipality's land allocation policy from 2015 the municipality specifies four ways to grant land through land allocation. This policy also specifies the city that the tenancy apartments to have granted on leasehold. In this study we have looked at the differences and problems that can occur when tenancy apartments are granted the leasehold in a central location as Norra Djurgårdsstaden. Further on this paper discuss Stockholm municipality's new proposals on ground rents and what potential consequences for the construction of rental apartments in central Stockholm this proposal could have. We also discuss whether it is appropriate to grant leasehold rights for tenancy apartments in this kind of location in the city with the current rent setting system. Finally the paper brings up options for future applications that could allow different forms of tenure to compete for land in a more market oriented way. / Faktumet att det råder bostadsbrist i Stockholm diskuteras med jämna mellanrum i media idag. Stockholms stad äger cirka 70 procent av all mark inom kommunen och i rollen som markägare har staden möjlighet att påverka vad och var inom kommunen det ska byggas. I denna uppsats har vi tittat på projektet Norra Djurgårdsstaden, Norra 2 och upptäckt att det finns väsentliga skillnader i hur staden upplåter mark för bostadsrättslägenheter respektive hyresrättslägenheter. Vi har framförallt tittat på själva markanvisningen och hur prissättningen av marken har gått till. I Stockholms stads markanvisningspolicy från 2015 anger staden fyra olika sätt att upplåta mark genom markanvisning. I denna policy anger också staden att hyresrättslägenheter ska få upplåtas på tomträtt. I den här undersökningen har vi tittat på de skillnader och problem som kan uppstå när hyresrätter upplåts på tomträtt i ett central läge som Norra Djurgårdsstaden. Vidare i arbetet behandlas även Stockholms stads nya förslag om tomträttsavgälder och vad detta förslag kan få för eventuella konsekvenser för byggandet av hyresrättslägenheter i centrala Stockholm. Vi diskuterar också om det är lämpligt att upplåta tomträtter för hyresrättslägenheter i denna typ av läge i staden med det nuvarande hyressättningssytemet. Slutligen tar arbetet upp alternativ till framtida tillämpningar som skulle kunna möjliggöra olika upplåtelseformer att konkurrera om mark på ett mera marknadsmässigt sätt.

[pt] A desigualdade salarial de gênero tem sido amplamente estudada e há muitas explicações. Há evidências crescentes de que as empresas desempenham um papel importante na explicação dessa desigualdade. Neste artigo, utilizo um ambiente único onde firmas sofrem choques de demanda exógenos, a fim de identificar se há evidência de rent-sharing pelas empresas e se o efeito difere entre trabalhadores homens e mulheres. Controlando pela qualidade dos trabalhadores, encontro que um aumento no valor do choque de demanda não leva a aumentos salariais. Os choques de demanda não afetam os salários de homens nem de mulheres e portanto, tampouco afeta a desigualdade salarial de gênero. Além disso, uso um novo conjunto de dados que contém informações sobre o gênero do dono da empresa e examino se as empresas lideradas por mulheres e por homens se comportam de maneira diferente em relação a seus empregados. Não encontro nenhuma evidência de que firmas lideradas por homens ou mulheres diferem com relação a rent-sharing. / [en] Gender wage inequality has been widely studied and many explanations have been advanced in the literature. There is growing evidence that firms play an important role in explaining this inequality. In this paper, I make use of a unique setting with exogenous demand shocks to firms to identify if there is evidence of rent-sharing by firms and whether it differs between male and female workers. Controlling for worker quality, I find that increases in the value of the demand shock per worker do not lead to increases in wages. Demand shocks do not have effects on neither male nor female wages. Furthermore, I use a new dataset containing information on gender of firm s owner and I examine if female and male-led firms behave differently towards their employees. I find no evidence of differential rent-sharing through the structure of the firms ownership.