No description available.

O objetivo do presente trabalho foi analisar a trajetória de desaceleração, vivenciada pela economia brasileira, a partir dos anos 1990 até 2013, com o foco nas restrições impostas ao crescimento econômico – do lado da oferta, de demanda e institucionais – e suas implicações fundamentais. Apoiado nas principais interpretações teóricas e também na literatura empírica sobre a insuficiência do crescimento econômico no Brasil, elaborou-se uma investigação teórico-histórico-empírica, a fim de identificar os principais obstáculos existentes, investigando-se o seu papel na determinação da trajetória verificada nas últimas décadas. O procedimento metodológico envolveu três etapas. Na primeira, buscou-se explicitar um aparato teórico-conceitual, a partir de uma resenha literária sobre a temática do crescimento econômico, com ênfase nos fatores que podem restringir o referido processo, de acordo com três abordagens principais: a economia tradicional (ortodoxa), a vertente keynesiana-neoestruturalista e a visão da economia institucional. A segunda etapa realizou uma discussão reflexiva que identificou o contexto do surgimento e a evolução dos obstáculos relevantes ao crescimento sustentado no Brasil. Na terceira etapa, desenvolveu-se uma análise econométrica que se dividiu em duas partes: a primeira utilizou a metodologia para dados em painéis, para inferir as correlações entre algumas variáveis selecionadas e o crescimento econômico em um conjunto de 67 países entre 1990 e 2013, e a segunda realizou uma análise de séries temporais, visando avaliar a relação entre as restrições ao crescimento e a trajetória de baixo dinamismo, verificada a partir dos anos 1990. Os principais resultados da pesquisa sugeriram a existência de uma relação forte e direta entre a presença das restrições – de oferta, de demanda e institucionais – e o desempenho pífio da economia brasileira, que ocorreu em razão da deterioração dos canais fundamentais para o crescimento sustentado: o investimento, a produtividade e o setor externo, justificando o quadro de semiestagnação que caracterizou as últimas décadas. / The objective of this study was to analyze the trend of deceleration experienced by the Brazilian economy, from the years 1990 to 2013 with a focus on restrictions on economic growth - on the supply side, demand and institutional ones - and its fundamental implications. Supported by the main theoretical interpretations and also by the empirical literature on the failure of economic growth in Brazil, we elaborated a theoretical and historical-empirical research to identify the main obstacles, investigating its role in determining the trend observed in recent decades. The methodological procedure involved three steps. At first, we tried to clarify a theoretical and conceptual apparatus, through a literature review on the economic growth, with emphasis on factors that may restrict this process, according to three main approaches: the traditional (Orthodox) economy, the Keynesian-neoestruturalist vision and the institutional economics. The second stage held a reflective discussion which identified the emergence of the context and the evolution of relevant obstacles to the resumption of economic growth in Brazil. In the third stage, we dedicated to an econometric analysis was divided into two parts developed: the first used the methodology for data panels aiming to infer some correlations between selected variables and economic growth in a set of 67 countries between 1990 and 2013 and, the second, we conducted a time series analysis to evaluate the relationship between the constraints to growth and the trajectory of low dynamism observed from the early 1990. The main results of this study suggested the existence of a strong and direct relationship between the presence of restrictions – of the supply and demand side and institutional ones - and the weak performance of the Brazilian economy, which took place due to the deterioration of basic channels for sustained growth: investment, productivity and the external sector, justifying the semi-stagnation framework that characterized the last decades.

The exponential growth of the world population led by the geographic expansion of urban areas in developing countries has put massive pressure on natural resources especially land and water. Water supply and water scarcity remain one of the major challenges facing the industrializing world. The United Nations forecast further increase in population which, in the absence of management and policies, will inevitably put more resources at risk. Changing climatic conditions causing more frequent and intense rainfall will also affect water management systems in the vulnerable urban areas of developing countries. The goal of this study was twofold; first analyze the patterns of water consumption in the rapidly growing city of Lagos, Nigeria and use them in a System Dynamics (SD) model to make projections about future demand. The second part used remote sensing to quantify the contribution of extensive land use/cover change to urban flooding. Land use/cover dynamics over the past decade was analyzed using satellite imagery provided by Landsat Thematic Mapping (TM). Unsupervised classification was performed with false color composite using the Iterative Self-Organizing Data Analysis (ISODATA) technique in a Geographic Information Systems (GIS). The study area was divided into four different land use types during image classification: bare land, built-up area, water bodies, and vegetation. For water demand, two different scenarios of population growth including 5.5% and 2.75 % annual increase were considered. The results showed that water demand dropped by 67% of its current value when losses in distribution were reduced by 20% and population annual growth rate kept at 2.75% over the study period. Bare land and water bodies lost 1.31% and 1.61% of their current area respectively while built-up area grew by 1.11%. These changes in land use/cover changes led to a 64% increase in average surface runoff, mostly attributable to increasing surface imperviousness and the absence of an adequate urban drainage system. This paper intends to assist the authorities of the city of Lagos who adopted a master plan in 2010 as a road map to reduce to city’s vulnerability to flooding and close the gap between water demand and water supply by 2050.

O objetivo do presente trabalho foi analisar a trajetória de desaceleração, vivenciada pela economia brasileira, a partir dos anos 1990 até 2013, com o foco nas restrições impostas ao crescimento econômico – do lado da oferta, de demanda e institucionais – e suas implicações fundamentais. Apoiado nas principais interpretações teóricas e também na literatura empírica sobre a insuficiência do crescimento econômico no Brasil, elaborou-se uma investigação teórico-histórico-empírica, a fim de identificar os principais obstáculos existentes, investigando-se o seu papel na determinação da trajetória verificada nas últimas décadas. O procedimento metodológico envolveu três etapas. Na primeira, buscou-se explicitar um aparato teórico-conceitual, a partir de uma resenha literária sobre a temática do crescimento econômico, com ênfase nos fatores que podem restringir o referido processo, de acordo com três abordagens principais: a economia tradicional (ortodoxa), a vertente keynesiana-neoestruturalista e a visão da economia institucional. A segunda etapa realizou uma discussão reflexiva que identificou o contexto do surgimento e a evolução dos obstáculos relevantes ao crescimento sustentado no Brasil. Na terceira etapa, desenvolveu-se uma análise econométrica que se dividiu em duas partes: a primeira utilizou a metodologia para dados em painéis, para inferir as correlações entre algumas variáveis selecionadas e o crescimento econômico em um conjunto de 67 países entre 1990 e 2013, e a segunda realizou uma análise de séries temporais, visando avaliar a relação entre as restrições ao crescimento e a trajetória de baixo dinamismo, verificada a partir dos anos 1990. Os principais resultados da pesquisa sugeriram a existência de uma relação forte e direta entre a presença das restrições – de oferta, de demanda e institucionais – e o desempenho pífio da economia brasileira, que ocorreu em razão da deterioração dos canais fundamentais para o crescimento sustentado: o investimento, a produtividade e o setor externo, justificando o quadro de semiestagnação que caracterizou as últimas décadas. / The objective of this study was to analyze the trend of deceleration experienced by the Brazilian economy, from the years 1990 to 2013 with a focus on restrictions on economic growth - on the supply side, demand and institutional ones - and its fundamental implications. Supported by the main theoretical interpretations and also by the empirical literature on the failure of economic growth in Brazil, we elaborated a theoretical and historical-empirical research to identify the main obstacles, investigating its role in determining the trend observed in recent decades. The methodological procedure involved three steps. At first, we tried to clarify a theoretical and conceptual apparatus, through a literature review on the economic growth, with emphasis on factors that may restrict this process, according to three main approaches: the traditional (Orthodox) economy, the Keynesian-neoestruturalist vision and the institutional economics. The second stage held a reflective discussion which identified the emergence of the context and the evolution of relevant obstacles to the resumption of economic growth in Brazil. In the third stage, we dedicated to an econometric analysis was divided into two parts developed: the first used the methodology for data panels aiming to infer some correlations between selected variables and economic growth in a set of 67 countries between 1990 and 2013 and, the second, we conducted a time series analysis to evaluate the relationship between the constraints to growth and the trajectory of low dynamism observed from the early 1990. The main results of this study suggested the existence of a strong and direct relationship between the presence of restrictions – of the supply and demand side and institutional ones - and the weak performance of the Brazilian economy, which took place due to the deterioration of basic channels for sustained growth: investment, productivity and the external sector, justifying the semi-stagnation framework that characterized the last decades.

O objetivo do presente trabalho foi analisar a trajetória de desaceleração, vivenciada pela economia brasileira, a partir dos anos 1990 até 2013, com o foco nas restrições impostas ao crescimento econômico – do lado da oferta, de demanda e institucionais – e suas implicações fundamentais. Apoiado nas principais interpretações teóricas e também na literatura empírica sobre a insuficiência do crescimento econômico no Brasil, elaborou-se uma investigação teórico-histórico-empírica, a fim de identificar os principais obstáculos existentes, investigando-se o seu papel na determinação da trajetória verificada nas últimas décadas. O procedimento metodológico envolveu três etapas. Na primeira, buscou-se explicitar um aparato teórico-conceitual, a partir de uma resenha literária sobre a temática do crescimento econômico, com ênfase nos fatores que podem restringir o referido processo, de acordo com três abordagens principais: a economia tradicional (ortodoxa), a vertente keynesiana-neoestruturalista e a visão da economia institucional. A segunda etapa realizou uma discussão reflexiva que identificou o contexto do surgimento e a evolução dos obstáculos relevantes ao crescimento sustentado no Brasil. Na terceira etapa, desenvolveu-se uma análise econométrica que se dividiu em duas partes: a primeira utilizou a metodologia para dados em painéis, para inferir as correlações entre algumas variáveis selecionadas e o crescimento econômico em um conjunto de 67 países entre 1990 e 2013, e a segunda realizou uma análise de séries temporais, visando avaliar a relação entre as restrições ao crescimento e a trajetória de baixo dinamismo, verificada a partir dos anos 1990. Os principais resultados da pesquisa sugeriram a existência de uma relação forte e direta entre a presença das restrições – de oferta, de demanda e institucionais – e o desempenho pífio da economia brasileira, que ocorreu em razão da deterioração dos canais fundamentais para o crescimento sustentado: o investimento, a produtividade e o setor externo, justificando o quadro de semiestagnação que caracterizou as últimas décadas. / The objective of this study was to analyze the trend of deceleration experienced by the Brazilian economy, from the years 1990 to 2013 with a focus on restrictions on economic growth - on the supply side, demand and institutional ones - and its fundamental implications. Supported by the main theoretical interpretations and also by the empirical literature on the failure of economic growth in Brazil, we elaborated a theoretical and historical-empirical research to identify the main obstacles, investigating its role in determining the trend observed in recent decades. The methodological procedure involved three steps. At first, we tried to clarify a theoretical and conceptual apparatus, through a literature review on the economic growth, with emphasis on factors that may restrict this process, according to three main approaches: the traditional (Orthodox) economy, the Keynesian-neoestruturalist vision and the institutional economics. The second stage held a reflective discussion which identified the emergence of the context and the evolution of relevant obstacles to the resumption of economic growth in Brazil. In the third stage, we dedicated to an econometric analysis was divided into two parts developed: the first used the methodology for data panels aiming to infer some correlations between selected variables and economic growth in a set of 67 countries between 1990 and 2013 and, the second, we conducted a time series analysis to evaluate the relationship between the constraints to growth and the trajectory of low dynamism observed from the early 1990. The main results of this study suggested the existence of a strong and direct relationship between the presence of restrictions – of the supply and demand side and institutional ones - and the weak performance of the Brazilian economy, which took place due to the deterioration of basic channels for sustained growth: investment, productivity and the external sector, justifying the semi-stagnation framework that characterized the last decades.

The internship is one of the most important components of doctoral training in professional psychology. Given the serious problem of the internship imbalance, applicant and program characteristics that constitute a good “fit” with internship training programs have become of greater interest as securing an internship becomes a more competitive process. This study surveyed internship applicants from programs part of the Council of University Directors of Clinical Psychology (CUDCP), before and after the 2010 and 2011 match days. Number of interview offers was found to be the factor most consistently associated with successfully matching, and several other applicant characteristics salient to matching and obtaining interview offers were identified, including applicant personality. Additionally, personal accounts, but not empirical evidence, of going unmatched have attested to the psychological distress associated with this event. in the current study, while going unmatched was not found to be equitable to a traumatic stressor, evidence was found to support significant decrease in subjective well-being with respect to immediate distress. Findings are discussed in terms of the predictability of and implications for the match process and internship imbalance, and recommendations are made for future research directions.

In this doctoral dissertation, I study markets in which the private information held by various agents may be reflected in prices, and as a result may be leaked to other market participants. Specifically, I study how the market microstructure interacts with the price discovery process, the market efficiency, agents' market power, and social welfare. This dissertation consists of two chapters. The first chapter studies the implications of leakage of information through prices for the efficient operation of markets with heterogeneous agents. Focusing on uniform-price double auctions, I first characterize how the presence of heterogeneity (e.g., in terms of agents’ trading costs, information precision, or risk attitudes) can shape the information content of prices and hence the market’s informational efficiency. I find that price informativeness decreases with the extent of heterogeneity in the market. I then establish that such reductions in price informativeness can in turn manifest themselves as an informational externality: in the presence of heterogeneity, agents do not internalize the impact of their trading decisions on the information revealed to others via prices. This chapter also shows that the welfare implications of this heterogeneity-induced informational externality depends on the intricate details of the market. The results thus indicate that accounting for the possibility of information leakage should be an important consideration in designing markets with asymmetric information. I conclude by exploring the welfare implications of market segmentation in the presence of heterogeneous agents and information leakage. The second chapter studies how information asymmetry shapes price impact in the presence of strategic interactions, i.e., agents' actions being strategic substitutes or strategic complements. Focusing on demand-function competition with strategic interactions, I first establish the existence and characterize the equilibrium. The characterization indicates that strategic interactions have a direct impact on the weights agents put on their private information: as strategic interaction increases, agents put less weight on their private information. I also characterize the relation between price impact, strategic interaction, and information asymmetry. While price impact decreases as the level of information asymmetry decreases, the relation between price impact and strategic interaction is more subtle, and it depends on whether agents submit upward- or downward-sloping demand schedules. When agents submit downward-sloping demand curves, price impact decreases as the extent of strategic substitutability increases, and increases as the extent of strategic complementarity increases. Furthermore, strong interaction may mitigate or exacerbate the effect of information asymmetry on agents' price impact, depending on the slope of the inverse supply curve. The results in this chapter thus emphasize the importance of accounting for strategic interactions between market participants, when assessing their price impact in markets with asymmetric information.

Thesis: Ph. D., Massachusetts Institute of Technology, Department of Economics, 1976 / Bibliography: leaves 115-121. / by Frederic S. Mishkin. / Ph. D. / Ph. D. Massachusetts Institute of Technology, Department of Economics

In this thesis, we study three periodic-review, finite-horizon inventory systems in the presence of supply and demand uncertainties. In the first part of the thesis, we study a multi-period single-station problem in which supply uncertainty is modeled by partial supply. Formulating the problem under a robust optimization (RO) framework, we show that solving the robust counterpart is equivalent to solving a nominal problem with a modified deterministic demand sequence. In particular, in the stationary case the optimal robust policy follows the quasi-(s, S) form and the corresponding s and S levels are theoretically computable. In the second part of the thesis, we extend the RO framework to a multi-period multi-echelon problem. We show that for a tree structure network, decomposition applies so that the optimal single-station robust policy remains valid for each echelon in the tree. Furthermore, if there are no setup costs in the network, then the problem can be decomposed into several uncapacitated single-station problems with new cost parameters subject to the deterministic demands. In the last part of the thesis, we consider a periodic-review Assemble-To-Order (ATO) system with multiple components and multiple products, where the inventory replenishment for each component follows an independent base-stock policy and product demands are satisfied according to a First-Come-First-Served (FCFS) rule. We jointly consider the inventory replenishment and component allocation problems in the ATO system under stochastic component replenishment lead times and stochastic product demands. The problems are formulated under the stochastic programming (SP) framework, which are difficult to solve exactly due to a large number of scenarios. We use the sample average approximation (SAA) algorithms to find near-optimal solutions, which accuracy is verified by the numerical experiment results. / Thesis / Doctor of Philosophy (PhD)

No description available.