Delays in stabilization or in reforms? The debt crisis

Empirical analyses attributing the 1980s' debt crisis to inconsistent stabilization policies rest on an inappropriate long-run approach. Revising this long-run approach yields opposite results: terms of trade shocks and foreign indebtedness explain this crisis, regardless of domestic stabilization policies. This prompts us to consider a new hypothesis, of delays in trade-policy reforms, with a model in which terms-of-trade variation (under shocks) is endogenous to export structure and efficiency of resource allocation. Evidence from the structural equations model shows that allocation distortions negatively affect changes in terms of trade, which then explain this crisis. A political economy extension demonstrates that income inequality and regional trade policy determine the distortions, which in turn leads to this crisis.

The debt crisis: a re-appraisal

The 1980s' debt crisis is a landmark in developing economies' growth and stabilization. According to the most quoted empirical articles, external shocks and vicissitudes gave rise to crisis just because of delays in stabilization policies, engendered by internal conflicts and institutional immaturity. I review some of these papers, and find out some problems - in the measurement of shocks and foreign indebtedness, namely - whose corrections lead to opposite results: external shocks and foreign indebtedness explain that crisis regardless of domestic policies. At the same time, the strong correlation of income distribution to terms of trade changes and foreign indebtedness suggest that inequality may have contributed differently to that crisis: either through an economic channel, or through a political channel based on delays in reforms.

Fiscal policy contradiction: a perspective on Brazil and Mexico

The aim of this paper is to discuss the quality of fiscal policy in Brazil and Mexico and investigate whether fiscal policy influence is favorable to reduce the unemployment rate. Public spending, which has a positive effect on the level of employment when results in additional aggregate demand, may cause a negative effect on employment, if its financing depends on persistent high interest rates. Brazil and Mexico have engaged in a long effort to control public spending and to reduce the public deficit to zero. Does this policy bring a positive result to the economic activity no matter how actual public deficit has been financed? We select variables related to public budget as public sector borrowing requirements, taxes, public debt and others to form a data base. The fiscal institutional arrangement and the data allow us to evaluate the fiscal policy as a whole and to discuss the importance of credibility and reputation of the government.

Energy system contributions in indoor rock climbing

The present study cross-sectionally investigated the influence of training status, route difficulty and upper body aerobic and anaerobic performance of climbers on the energetics of indoor rock climbing. Six elite climbers (EC) and seven recreational climbers ( RC) were submitted to the following laboratory tests: ( a) anthropometry, (b) upper body aerobic power, and ( c) upper body Wingate test. on another occasion, EC subjects climbed an easy, a moderate, and a difficult route, whereas RC subjects climbed only the easy route. The fractions of the aerobic (WAER), anaerobic alactic (W-PCR) and anaerobic lactic (W-[La(])-) systems were calculated based on oxygen uptake, the fast component of excess post-exercise oxygen uptake, and changes in net blood lactate, respectively. on the easy route, the metabolic cost was significantly lower in EC [ 40.3 ( 6.5) kJ] than in RC [60.1 ( 8.8) kJ] ( P < 0.05). The respective contributions of the WAER, WPCR, and W-[La(])- systems in EC were: easy route = 41.5 (8.1), 41.1 (11.4) and 17.4% (5.4), moderate route = 45.8 (8.4), 34.6 (7.1) and 21.9% (6.3), and difficult route = 41.9 (7.4), 35.8 (6.7) and 22.3% (7.2). The contributions of the WAER, WPCR, and W-[La(])- systems in RC subjects climbing an easy route were 39.7 (5.0), 34.0 (5.8), and 26.3% (3.8), respectively. These results indicate that the main energy systems required during indoor rock climbing are the aerobic and anaerobic alactic systems. In addition, climbing economy seems to be more important for the performance of these athletes than improved energy metabolism.

RESPIRATORY RESPONSES IN A BRAZILIAN MILLIPEDE, PSEUDONANNOLENE-TRICOLOR, TO DECLINING OXYGEN PRESSURES

Oxygen uptake and the influence of declining oxygen pressures (Po2's) were examined in a Brazilian spirostreptid millipede, Pseudonannolene tricolor. The data were obtained in a Warburg respirometer at 25-degrees-C from both male and female animals, sexually inactive, in the intermolt stage, and fasting for 24 h. In a sudden exposure to a decreased Po2 the millipedes regulated respiration down to at least 71 mmHg O2. From a Po2 of 35 mmHg O2 downward the animals started to show oxyconformity. When the millipedes were exposed to a stepwise declining Po2 the results indicated only conformation. After exposure to hypoxia, P. tricolor showed a pattern of underrepayment on return to normoxia, but larger millipedes accumulated more O2 debt than smaller ones.

Sleep patterns of day-working, evening high-schooled adolescents of São Paulo, Brazil

Children who grow up in developing countries of the world must work to help financially support their families, and they must also attend school. We investigated the impact of work on the sleep of working vs. nonworking high school students. Twenty-seven São Paulo, Brazil, public high school students (eight male and eight female working students plus six nonworking female and five nonworking male students) 14-18 yrs of age who attended school Monday-Friday between 19:00 to 22:30h participated. A comprehensive questionnaire about work and living conditions, health status, and diseases and their symptoms was also answered. The activity level and rest pattern (sleep at night and napping during the day) were continuously assessed by wrist actigraphy (Ambulatory Monitoring, USA). The main variables were analyzed by a two-factor ANOVA with application of the Tukey HSD test for multiple comparisons, and the length of sleep during weekdays vs. weekends was compared by Student t-test. Working students went to sleep earlier weekends [F-(1,F-23) = 6.1; p = 0.02] and woke up earlier work days than nonworking students [F-(1,F-23) = 17.3; p = 0.001]. The length of nighttime sleep during weekdays was shorter among all the working [F-(1,F-23) = 16.7; p < 0.001] than all the nonworking students. The sleep duration of boys was shorter than of girls during weekends [F-(1,F-23) = 10.8; P < 0.001]. During weekdays, the duration of napping by working and nonworking male students was shorter than nonworking female students. During weekdays, working girls took the shortest naps [F-(1,F-23) = 5.6; p = 0.03]. The most commonly reported sleep complaint during weekdays was difficulty waking up in the morning [F-(1.23) = 6.5; p = 0.02]. During weekdays, the self-perceived sleep quality of working students was worse than nonworking students [F-(1,F-23) = 6.2; p = 0.02]. The findings of this study show that work has negative effects on the sleep of adolescents, with the possible build-up of a chronic sleep debt with potential consequent impact on quality of life and school learning.

The respiratory responses of an amphibious snail Pomacea lineata (spix, 1827), to temperature and oxygen tension variations

1. 1. The respiratory responses of Pomacea lineata to short-term (or acute) exposure to temperature and oxygen tension variations were investigated in animals acclimated to 25°C. 2. 2. The respiratory rates increased with rising temperatures; this increase was sharper between 15 and 25°C than at any other temperature interval; a tendency to a plateau in the RT curve was recorded between 25 and 35°C. 3. 3. All animals survived well to 1 hr exposure to the extreme temperatures used (5 and 40°C). 4. 4. In two different experimental approaches, the animals showed ability to regulate the respiratory rate in declining oxygen tensions, at least down to 10% (70.8 mmHg) oxygen. 5. 5. After 1 hr exposure to hypoxic conditions, P. lineata exhibited the pattern of underpayment of the oxygen debt acquired. 6. 6. Six out of ten animals survived after 40 days in anoxia (100% nitrogen). © 1987.

Política fiscal e dívida pública: Uma abordagem teórica a partir de keynes e abba lerner

The fiscal policies of national governments are an important instrument of economic policy, as they contribute directly or indirectly to growth and economic development. Since Keynes, the utilization of active fiscal policy is unavoidable during periods of crisis, especially a policy of public investment spending aimed at reducing macroeconomic uncertainty. In the same way, Abba Lerner and functional finances indicate the use of fiscal policy in favor of macroeconomic stability, and not according to a single objective of seeking equilibrium in the public accounts. However, at the present time, the debate on fiscal policy is not sufficient to guarantee public sector financial equilibrium. The article picks up on the contributions of Keynes and Abba Lerner regarding the importance of the public budget in economic activity, and discusses the present scenario for fiscal policy.

Música como aia da vontade: ensaio sobre a leitura wagneriana de Schopenhauer

In the year 1851, Richard Wagner had his first contact with the philosophy of Schopenhauer, a fact that was followed soon by his proclaimed and somewhat surprising conversion to schopenhauerianism. Tweny years later, his debt to Schopenhauer is reaffirmed in Beethoven, a comemorative writing in which are to be found the outlines of a philosophy of music - claimed by the composer to be based on Schopenhauer's aesthetics - that had great influence in Nietzsche's theoretical elaboration of the dionysiac, as it appears in The birth of Tragedy. My work aims primarily at investigating to what extent the musical aesthetics outlined in Beethoven is actually compatible with that presented in The world as Will and representation. The pointing out of remarkable differences between the two aesthetic conceptions gives then rise to some reflexions concerning the character of the relations between Wagner, Schopenhauer and the young Nietzsche.

As estratégias de inserção na Economia internacional do Brasil e do México: o Mercosul, o Nafta e a política externa

Pós-graduação em Ciências Sociais - FFC

Política fiscal e restrições tributárias: aspectos práticos dos efeitos restritivos tributários sobre a atividade econômica

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Política fiscal e reestruturação da dívida pública no Brasil

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

PPP: um paradigma a ser conquistado no Brasil a partir das experiências internacionais

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Disparidades de produto, produtividade e emprego no Brasil

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Isotopias em Genocíndio de Emmanuel Marinho

Pós-graduação em Letras - FCLAS