O papel das agências de rating e a dívida pública portuguesa

Durante as últimas décadas observou-se o crescimento da importância das avaliações fornecidas pelas agências de rating, sendo este um fator decisivo na tomada de decisão dos investidores. Também os emitentes de dívida são largamente afetados pelas alterações das classificações atribuídas por estas agências. Esta investigação pretende, por um lado, compreender se estas agências têm poder para conseguirem influenciar a evolução da dívida pública e qual o seu papel no mercado financeiro. Por outro, pretende compreender quais os fatores determinantes da dívida pública portuguesa, bem como a realização de uma análise por percentis com o objetivo de lhe atribuir um rating. Para a análise dos fatores que poderão influenciar a dívida pública, a metodologia utilizada é uma regressão linear múltipla estimada através do Método dos Mínimos Quadrados (Ordinary Least Squares – OLS), em que num cenário inicial era composta por onze variáveis independentes, sendo a dívida pública a variável dependente, para um período compreendido entre 1996 e 2013. Foram realizados vários testes ao modelo inicial, com o objetivo de encontrar um modelo que fosse o mais explicativo possível. Conseguimos ainda identificar uma relação inversa entre o rating atribuído por estas agências e a evolução da dívida pública, no sentido em que para períodos em que o rating desce, o crescimento da dívida é mais acentuado. Não nos foi, no entanto, possível atribuir um rating à dívida pública através de uma análise de percentis.

Disposable immunosensor using a simple method for oriented antibody immobilization for label-free real-time detection of an oxidative stress biomarker implicated in cancer diseases

This work proposes a novel approach for a suitable orientation of antibodies (Ab) on an immunosensing platform, applied here to the determination of 8-hydroxy-2′-deoxyguanosine (8OHdG), a biomarker of oxidative stress that has been associated to chronic diseases, such as cancer. The anti-8OHdG was bound to an amine modified gold support through its Fc region after activation of its carboxylic functions. Non-oriented approaches of Ab binding to the platform were tested in parallel, in order to show that the presented methodology favored Ab/Ag affinity and immunodetection of the antigen. The immunosensor design was evaluated by quartz-crystal microbalance with dissipation, atomic force microscopy, electrochemical impedance spectroscopy (EIS) and square-wave voltammetry. EIS was also a suitable technique to follow the analytical behavior of the device against 8OHdG. The affinity binding between 8OHdG and the antibody immobilized in the gold modified platform increased the charge transfer resistance across the electrochemical set-up. The observed behavior was linear from 0.02 to 7.0 ng/mL of 8OHdG concentrations. The interference from glucose, urea and creatinine was found negligible. An attempt of application to synthetic samples was also successfully conducted. Overall, the presented approach enabled the production of suitably oriented Abs over a gold platform by means of a much simpler process than other oriented-Ab binding approaches described in the literature, as far as we know, and was successful in terms of analytical features and sample application.

The effect of method, standard and sample components on the total antioxidant capacity of commercial waters assessed by optical conventional assays

The total antioxidant capacity (TAC) of 28 flavoured water samples was assessed by ferric reducing antioxidant potential (FRAP), oxygen radical absorbance capacity (ORAC), trolox equivalent antioxidant capacity (TEAC) and total reactive antioxidant potential (TRAP) methods. It was observed that flavoured waters had higher antioxidant activity than the corresponding natural ones. The observed differences were attributed to flavours, juice and vitamins. Generally, higher TAC contents were obtained on lemon waters and lower values on guava and raspberry flavoured waters. Lower and higher TACs were obtained by TRAP and ORAC method, respectively. Statistical analysis suggested that vitamins and flavours increased the antioxidant content of the commercial waters.

Rapid automated method for on-site determination of sulfadiazine in fish farming: a stainless steel veterinary syringe coated with a selective membrane of PVC serving as a potentiometric detector in a flow-injection-analysis system

Sulfadiazine is an antibiotic of the sulfonamide group and is used as a veterinary drug in fish farming. Monitoring it in the tanks is fundamental to control the applied doses and avoid environmental dissemination. Pursuing this goal, we included a novel potentiometric design in a flow-injection assembly. The electrode body was a stainless steel needle veterinary syringe of 0.8-mm inner diameter. A selective membrane of PVC acted as a sensory surface. Its composition, the length of the electrode, and other flow variables were optimized. The best performance was obtained for sensors of 1.5-cm length and a membrane composition of 33% PVC, 66% onitrophenyloctyl ether, 1% ion exchanger, and a small amount of a cationic additive. It exhibited Nernstian slopes of 61.0 mV decade-1 down to 1.0×10-5 mol L-1, with a limit of detection of 3.1×10-6 mol L-1 in flowing media. All necessary pH/ionic strength adjustments were performed online by merging the sample plug with a buffer carrier of 4-(2-hydroxyethyl)-1-piperazineethanesulfonic acid, pH 4.9. The sensor exhibited the advantages of a fast response time (less than 15 s), long operational lifetime (60 days), and good selectivity for chloride, nitrite, acetate, tartrate, citrate, and ascorbate. The flow setup was successfully applied to the analysis of aquaculture waters. The analytical results were validated against those obtained with liquid chromatography–tandem mass spectrometry procedures. The sampling rate was about 84 samples per hour and recoveries ranged from 95.9 to 106.9%.

Local Fractional Variational Iteration Method for Local Fractional Poisson Equations in Two Independent Variables

The local fractional Poisson equations in two independent variables that appear in mathematical physics involving the local fractional derivatives are investigated in this paper. The approximate solutions with the nondifferentiable functions are obtained by using the local fractional variational iteration method.

Chaotic Phenomena and Performance Optimization in the Trajectory Control of Redundant Manipulators

Redundant manipulators have some advantages when compared with classical arms because they allow the trajectory optimization, both on the free space and on the presence of abstacles, and the resolution of singularities. For this type of manipulators, several kinetic algorithms adopt generalized inverse matrices. In this line of thought, the generalized inverse control scheme is tested through several experiments that reveal the difficulties that often arise. Motivated by theseproblems this paper presents a new method that ptimizes the manipulability through a least squre polynomialapproximation to determine the joints positions. Moreover, the article studies influence on the dynamics, when controlling redundant and hyper-redundant manipulators. The experiment confirm the superior performance of the proposed algorithm for redundant and hyper-redundant manipulators, revealing several fundamental properties of the chaotic phenomena, and gives a deeper insight towards the future development of superior trajectory control algorithms.

Application of Visual-Inertial SLAM for 3D Mapping of Underground Environments

The underground scenarios are one of the most challenging environments for accurate and precise 3d mapping where hostile conditions like absence of Global Positioning Systems, extreme lighting variations and geometrically smooth surfaces may be expected. So far, the state-of-the-art methods in underground modelling remain restricted to environments in which pronounced geometric features are abundant. This limitation is a consequence of the scan matching algorithms used to solve the localization and registration problems. This paper contributes to the expansion of the modelling capabilities to structures characterized by uniform geometry and smooth surfaces, as is the case of road and train tunnels. To achieve that, we combine some state of the art techniques from mobile robotics, and propose a method for 6DOF platform positioning in such scenarios, that is latter used for the environment modelling. A visual monocular Simultaneous Localization and Mapping (MonoSLAM) approach based on the Extended Kalman Filter (EKF), complemented by the introduction of inertial measurements in the prediction step, allows our system to localize himself over long distances, using exclusively sensors carried on board a mobile platform. By feeding the Extended Kalman Filter with inertial data we were able to overcome the major problem related with MonoSLAM implementations, known as scale factor ambiguity. Despite extreme lighting variations, reliable visual features were extracted through the SIFT algorithm, and inserted directly in the EKF mechanism according to the Inverse Depth Parametrization. Through the 1-Point RANSAC (Random Sample Consensus) wrong frame-to-frame feature matches were rejected. The developed method was tested based on a dataset acquired inside a road tunnel and the navigation results compared with a ground truth obtained by post-processing a high grade Inertial Navigation System and L1/L2 RTK-GPS measurements acquired outside the tunnel. Results from the localization strategy are presented and analyzed.

Calibration Method for Underwater Visual Ground-Truth System

This work presents an automatic calibration method for a vision based external underwater ground-truth positioning system. These systems are a relevant tool in benchmarking and assessing the quality of research in underwater robotics applications. A stereo vision system can in suitable environments such as test tanks or in clear water conditions provide accurate position with low cost and flexible operation. In this work we present a two step extrinsic camera parameter calibration procedure in order to reduce the setup time and provide accurate results. The proposed method uses a planar homography decomposition in order to determine the relative camera poses and the determination of vanishing points of detected lines in the image to obtain the global pose of the stereo rig in the reference frame. This method was applied to our external vision based ground-truth at the INESC TEC/Robotics test tank. Results are presented in comparison with an precise calibration performed using points obtained from an accurate 3D LIDAR modelling of the environment.

Validation of QuEChERS method for organochlorine pesticides analysis in tamarind (Tamarindus indica) products: Peel, fruit and commercial pulp

In this study a citrate-buffered version of QuEChERS (Quick, Easy, Cheap, Effective, Rugged and Safe) method for determination of 14 organochlorine pesticides (OCPs) residues in tamarind peel, fruit and commercial pulp was optimized using gas chromatography (GC) coupled with electron-capture detector (ECD) and confirmation by GC tandem mass spectrometry (GC–MS/MS). Five procedures were tested based on the original QuEChERS method. The best one was achieved with increased time in ultrasonic bath. For the extract clean-up, primary secondary amine (PSA), octadecyl-bonded silica (C18) and magnesium sulphate (MgSO4) were used as sorbents for tamarind fruit and commercial pulp and for peel was also added graphitized carbon black (GCB). The samples mass was optimized according to the best recoveries (1.0 g for peel and fruit; 0.5 g for pulp). The method results showed the matrix-matched calibration curve linearity was r2 > 0.99 for all target analytes in all samples. The overall average recoveries (spiked at 20, 40 and 60 μg kg−1) have been considered satisfactory presenting values between 70 and 115% with RSD of 2–15 % (n = 3) for all analytes, with the exception of HCB (in peel sample). The ranges of limits of detection (LOD) and quantification (LOQ) for OCPs were for peel (LOD: 8.0–21 μg kg−1; LOQ: 27–98 μg kg−1); for fruit (LOD: 4–10 μg kg−1; LOQ: 15–49 μg kg−1) and for commercial pulp (LOD: 2–5 μg kg−1; LOQ: 7–27 μg kg−1). The method was successfully applied in tamarind samples being considered a rapid, sensitive and reliable procedure.

A filter inexact-restoration method for nonlinear programming

A new iterative algorithm based on the inexact-restoration (IR) approach combined with the filter strategy to solve nonlinear constrained optimization problems is presented. The high level algorithm is suggested by Gonzaga et al. (SIAM J. Optim. 14:646–669, 2003) but not yet implement—the internal algorithms are not proposed. The filter, a new concept introduced by Fletcher and Leyffer (Math. Program. Ser. A 91:239–269, 2002), replaces the merit function avoiding the penalty parameter estimation and the difficulties related to the nondifferentiability. In the IR approach two independent phases are performed in each iteration, the feasibility and the optimality phases. The line search filter is combined with the first one phase to generate a “more feasible” point, and then it is used in the optimality phase to reach an “optimal” point. Numerical experiences with a collection of AMPL problems and a performance comparison with IPOPT are provided.

Determinação da tenacidade à fratura em corte (GIIc) de adesivos estruturais pelo ensaio End-Notched Flexure (ENF)

Os adesivos têm sido alvo de estudo ao longo dos últimos anos para ligação de componentes a nível industrial. Devido à crescente utilização das juntas adesivas, torna-se necessária a existência de modelos de previsão de resistência que sejam fiáveis e robustos. Neste âmbito, a determinação das propriedades dos adesivos é fundamental para o projeto de ligações coladas. Uma abordagem recente consiste no uso de modelos de dano coesivo (MDC), que permitem simular o comportamento à fratura das juntas de forma bastante fiável. Esta técnica requer a definição das leis coesivas em tração e corte. Estas leis coesivas dependem essencialmente de 2 parâmetros: a tensão limite e a tenacidade no modo de solicitação respetivo. O ensaio End-Notched Flexure (ENF) é o mais utilizado para determinar a tenacidade em corte, porque é conhecido por ser o mais expedito e fiável para caraterizar este parâmetro. Neste ensaio, os provetes são sujeitos a flexão em 3 pontos, sendo apoiados nas extremidades e solicitados no ponto médio para promover a flexão entre substratos, o que se reflete numa solicitação de corte no adesivo. A partir deste ensaio, e após de definida a tenacidade em corte (GIIc), existem alguns métodos para estimativa da lei coesiva respetiva. Nesta dissertação são definidas as leis coesivas em corte de três adesivos estruturais através do ensaio ENF e um método inverso de ajuste dos dados experimentais. Para o efeito, foram realizados ensaios experimentais considerado um adesivo frágil, o Araldite® AV138, um adesivo moderadamente dúctil, o Araldite® 2015 e outro dúctil, o SikaForce® 7752. O trabalho experimental consistiu na realização dos ensaios ENF e respetivo tratamento dos dados para obtenção das curvas de resistência (curvas-R) através dos seguintes métodos: Compliance Calibration Method (CCM), Direct Beam Theory (DBT), Corrected Beam Theory (CBT) e Compliance-Based Beam Method (CBBM). Os ensaios foram simulados numericamente pelo código comercial ABAQUS®, recorrendo ao Métodos de Elementos Finitos (MEF) e um MDC triangular, com o intuito de estimar a lei coesiva de cada um dos adesivos em solicitação de corte. Após este estudo, foi feita uma análise de sensibilidade ao valor de GIIc e resistência coesiva ao corte (tS 0), para uma melhor compreensão do efeito destes parâmetros na curva P- do ensaio ENF. Com o objetivo de testar adequação dos 4 métodos de obtenção de GIIc usados neste trabalho, estes foram aplicados a curvas P- numéricas de cada um dos 3 adesivos, e os valores de GIIc previstos por estes métodos comparados com os respetivos valores introduzidos nos modelos numéricos. Como resultado do trabalho realizado, conseguiu-se obter uma lei coesiva única em corte para cada um dos 3 adesivos testados, que é capaz de reproduzir com precisão os resultados experimentais.