A dinâmica da taxa de câmbio no Brasil face às operações swap (2002-2015)

This dissertation investigates, based on the Post-Keynesian theory and on its concept of monetary economy of production, the exchange rate behavior of the Brazilian Real in the presence of Brazilian Central Bank's interventions by means of the so-called swap transactions over 2002-2015. Initially, the work analyzes the essential properties of an open monetary economy of production and, thereafter, it presents the basic propositions of the Post-Keynesian view on the exchange rate determination, highlighting the properties of foreign exchange markets and the peculiarities of the Brazilian position into the international monetary and financial system. The research, thereby, accounts for the various segments of the Brazilian foreign exchange market. To accomplish its purpose, we first do a literature review of the Post-Keynesian literature about the topic. Then, we undertake empirical exams of the exchange rate determination using two statistical methods. On the one hand, to measure the volatility of exchange rate, we estimate Auto-regressive Conditional Heteroscedastic (ARCH) and Generalized Auto-regressive Conditional Heteroscedastic (GARCH) models. On the other hand, to measure the variance of the exchange rate in relation to real, financial variables, and the swaps, we estimate a Vector Auto-regression (VAR) model. Both experiments are performed for the nominal and real effective exchange rates. The results show that the swaps respond to exchange rate movements, trying to offset its volatility. This reveals that the exchange rate is, at least in a certain magnitude, sensitive to swaps transactions conducted by the Central Bank. In addition, another empirical result is that the real effective exchange rate responds more to the swaps auctions than the nominal rate.

Determinação voltamétrica de zinco empregando eletrodos quimicamente modificados com bismuto

This dissertation presents the development of voltammetric methods to zinc determination in multivitamin commercial samples, talc, and art materials for painting (soft pastel) combining an alkaline extraction with 1.0 mol L-1 NaOH aqueous solution and bismuth modified electrodes. Two electrodes were used to zinc quantification in the samples, bismuth film electrode (BiFE) plated in situ onto glassy carbon and carbon paste electrode chemically modified with strongly acidic ion exchange resin Amberlite® IR 120 and bismuth nanostructures (EPCAmbBi). It was verified that the best concentration of Bi3+ for Bi film deposition onto glassy carbon was 4.0 μmol L-1 using an 0.1 mol L-1 acetate buffer aqueous solution (pH = 4.5) as supporting electrolyte. The best condition to formation of Bi nanostructures in the EPC modified with 10 % Amberlite® IR 120 was the use of 30 s to pre-concentration (open circuit) in 0.5 mmol L-1 Bi3+ aqueous solution (pH 5.5) prepared with supporting electrolyte solution. The obtained analytical curve for Zn2+ using BiFE presented linear range from 0.5 to 5.0 μmol L-1, the limit of detection (LD) was 41 nmol L-1. For EPCAmbBi only one linear range was observed for the analytical curve varying the Zn2+ concentration from 0.05 to 8.2 μmol L-1, LD obtained in this curve it was equal to 10 nmol L-1. The EPCAmbBi presented the most intense and sharp anodic stripping peaks for Zn2+ presenting, therefore, a better voltammetric profile, with sensitivity higher than obtained with the BiFE. Moreover, the EPCAmbBi presented a LD lower than that obtained with the BiFE. Alkaline extraction was an efficient sample pretreatment to extract Zn2+ from solid samples, besides that, this procedure was less susceptible to interferences from Cu2+, since it remains at extracting vessel as insoluble Cu(OH)2. The combination of alkaline extraction with the EPCAmbBi is a simple, fast, efficient and low cost for the zinc determination in pharmaceutical formulations and art materials for painting (soft pastel) samples, which can be employed as a low-cost alternative method to the atomic absorption spectroscopy.