The luck of being of the right gender and color: a detailed discussion about the wage gaps in the Brazilian manufacturing industry

Quality & Quantity - This work analyzed the wage discrimination in the Brazilian manufacturing industry. By recurring to the most updated database, several gaps were analyzed between white and...     

‘Ruins of Modernity’: The Critical Implications of Unfinished Public Works in Italy

Since the 1950s, the construction of public works has been a significant element of Italy's focus on modernization. Numerous instances of malpractice have resulted in frequent failures of this form of development, with the result that many projects have remained unfinished for decades. In 2007, a group of artists called Alterazioni Video declared these ‘ruins of modernity’ to be a romanticized architectural style; in doing so, their aim is to imbue the sites with new value and dignity. This article uses the artists’ argument as a point of departure to theorize about unfinished public works within the framework of interdisciplinary literatures on modern ruins. In addition, since modern ruins by definition hold a critical meaning––which the artists deliberately excluded from their narrative––the article takes into account the obscure political and economic circumstances causing this phenomenon. After remarking upon specificities and similarities to unfinished neoliberal topographies generated by the 2008 financial crisis, it is concluded that unfinished public works in Italy represent an interesting case serving to enrich debates on incompletion.     

Concept learning by direct current design challenges in secondary education

This paper presents a mixed methods study in which 77 students and 3 teachers took part, that investigated the practice of Learning by Design (LBD). The study is part of a series of studies, funded by the Netherlands Organisation for Scientific Research, that aims to improve student learning, teaching skills and teacher training. LBD uses the context of design challenges to learn, among other things, science. Previous research showed that this approach to subject integration is quite successful but provides little profit regarding scientific concept learning. Perhaps, when the process of concept learning is better understood, LBD is a suitable method for integration. Through pre- and post-exams we measured, like others, a medium gain in the mastery of scientific concepts. Qualitative data revealed important focus-related issues that impede concept learning. As a result, mainly implicit learning of loose facts and incomplete concepts occurs. More transparency of the learning situation and a stronger focus on underlying concepts should make concept learning more explicit and coherent.     

Crecimiento económico,flexibilización laboral y calidad del empleo en Colombia de 2002 a 2011

Tras analizar el mercado de trabajo colombiano entre 2002 y 2011, los autores constatan una mejora sustancial de las oportunidades de empleo, junto con el aumento del empleo atípico. Exploran cómo ello afectó a la calidad del empleo mediante un indicador compuesto basado en el método de componentes principales categóricos, y concluyen que hubo una leve mejora generalizada, debida al aumento de los ingresos y de la seguridad social y al menor subempleo por horas, que benefició sobre todo a las trabajadoras independientes. Ello deja todavía un déficit cualitativo importante, que requiere políticas de estímulo de la institucionalidad y la productividad laborales y de la inversión.     

Flexible exchange rates,unemployment and stabilization policy effectiveness

The paper presents a general equilibrium model of a small flexible exchange rate economy comprising asset, goods, and labor markets. Viewing the exchange rate as determined proximately in asset markets, the study examines its influence on the excess demand for labor and for output and, correspondingly, its impact on the level of unemployment and external imbalance. The role of exchange rate expectations is central to the present analysis, which reconsiders, in that light, the conventional conclusions about monetary and fiscal policy effectiveness under flexible exchange rates.     

Die stochastische Modellierung von Großschäden für den Einsatz in internen Risikomodellen der Schadenversicherung

Along with individual corporate management and regulatory matters for instance within EU regime Solvency II, Internal Risk Models are very important for major general insurance companies. Of crucial importance in building these internal models, is the stochastic modelling of large claims and in particular, the selection and parameterization of suitable probability distributions for the amount and number of claims based on empirical data. To this end, in practice, a visually-based methodology is more appropriate and workable than strict mathematical approaches. Based on a practical case study, this paper provides some insight into a visually-based methodology for internal risk models.     

Design principles for corporate venture transition processes in established technology firms

Corporate venturing has become a well‐known approach toward new business development and strategic renewal for established technology firms. However, without an effectively designed process for aligning and integrating a corporate venture in the established business, the firm increases the risk of venture failure. This paper provides a process perspective on corporate venture transition. Based on the results of an empirical study of six corporate venture transition processes, we present suitable actions for each of the different phases of the venture transition process. In addition, we indicate the proper timing for venture transition, which is one of the long‐standing difficulties in this area. Finally, we integrate the results of the empirical study with knowledge from extant literature in a set of design principles. These design principles provide practical guidelines to improve corporate venture transition processes.     

Modeling Financial Sector Joint Tail Risk in the Euro Area

We develop a novel high‐dimensional non‐Gaussian modeling framework to infer measures of conditional and joint default risk for numerous financial sector firms. The model is based on a dynamic generalized hyperbolic skewed‐t block equicorrelation copula with time‐varying volatility and dependence parameters that naturally accommodates asymmetries and heavy tails, as well as nonlinear and time‐varying default dependence. We apply a conditional law of large numbers in this setting to define joint and conditional risk measures that can be evaluated quickly and reliably. We apply the modeling framework to assess the joint risk from multiple defaults in the euro area during the 2008–2012 financial and sovereign debt crisis. We document unprecedented tail risks between 2011 and 2012, as well as their steep decline following subsequent policy actions. Copyright © 2016 John Wiley & Sons, Ltd.     

Regulating the banking industry in transition economies: Exploring interactions between capital and reserve requirements

This paper examines the ‘prudential' role of reserve requirements in transition economies using a general-equilibrium banking model. The analysis stresses the role that reserve requirements may play in enforcing an adequate level of bank capitalization in a context in which it is difficult to assess the true value of bank assets. The paper also explores the interactions that exist between capital and reserve requirements and the effect of these regulations on the financial structure of banks and on the level of credit and interest rates.