Welfare costs of inflation when interest-bearing deposits are disregarded: a calculation of the bias

Most estimates of the welfare costs of in ation are devised considering only noninterest- bearing assets, ignoring that since the 80s technological innovations and new regulations have increased the liquidity of interest-bearing deposits. We investigate the resulting bias. Suscient and necessary conditions on its sign are presented, along with closed-form expressions for its magnitude. Two examples dealing with bidimensional bilogarithmic money demands show that disregarding interest-bearing monies may lead to a non-negligible overestimation of the welfare costs of in ation. An intuitive explanation is that such assets may partially make up for the decreased demand of noninterest-bearing assets due to higher in ation.

WeIfare costs of inflation the case for interest-bearing money and empiricaI Estimates for Brazil

We provide in this paper a closed fonn for the Welfare Cost of Inflation which we prove to be closer than Bailey's expression to the correct solution of the corresponding non-separable differential equation. Next, we extend this approach to an economy with interest-bearing money, once again presenting a better appoximation than the one given by Bailey's approach. Finally, empirical estimates for Brazil are presented.

Welfare cost of inflation considering adoption decisions and interest-bearing deposits

Attanasio et al. (JPE, 2002) have used microeconomic data on households to provide new estimates of the welfare costs of infiation using Bailey's unidimensional welfare measure as a basis for their calculations. Such a measure does not properly take into consideration lhe fact that the majority of households in their sample (58.7 percent) holds not only bank deposits and currency, but also a second type of interest-bearing assct. This work devises alternative formulas which account for the existence of bank deposits and a sccond interest-bearing asset in the economy, as well as for adoption decisions regarding alternative financiai technologies.

Muscles-bearing of sting apparatus in social wasps and their relationship with the autotomy (Hymenoptera: Vespidae: Polistinae)

The musculature that sustains the stinging organ was studied in three species of social wasps using scanning electron microscopy technique. It were observed some differences among species in which sting autotomy occurs and in which it does not. These differences were related to the diameter,length and position of insertion of these muscles.

Immunological response in mice bearing LM3 breast tumor undergoing Pulchellin treatment

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

A lethal effect associated with polymorphism of the NOR-bearing chromosomes in rainbow trout (Oncorhynchus mykiss)

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

An investigation of pile diameter influence in the bearing capacity on Dynamic Load Test (DLT)

During the construction of five residential buildings in the city of Taubate, State of São Paulo, it was possible to carry out one comprehensive investigation of the behavior of precast concrete piles in clay shales. This paper describes the results of Dynamic Load Tests (DLT's) executed in three piles with different diameters and with the same embedded length. The tests were monitored using the PDA(R) (Pile Driving Analyzer) and the pile top displacement was measured by pencil and paper procedure. From the curves of RMX versus DMX resulted from CASE(R) method, CAPWAPC(R) analyses were made for signals where the maximum mobilized soil resistance was verified. The results were compared with the predicted bearing capacity using the semi-empirical method of Decourt & Quaresma (1978) and Decourt (1982) based on SPT values and the description of the soil profile. Some comments related to the values of quake and damping used for clay shales in the analyses are also presented.

Notes on vibration control of a micro/macromanipulator mounted on a flexible structure

The objective of this study is to describe the design and the implementation of an experimental set-up used to study the dynamics, the experimental identification, and the active vibration control of a flexible structure mounted manipulator system. The system consists of a three-degree-of-freedom cylindrical manipulator system with a flexible link on its tip. A two-degree-of-freedom polar rigid manipulator is mounted on the flexible macromanipulator. The dynamic modelling and experimental modal analysis identification in the frequency domain are being applied to design active digital control strategies for the micro-manipulator system to damp the mechanical vibrations of the flexible structure on the tip of the macro-manipulator system.

Damping behavior of continuous fiber/metal composite materials by the free vibration method

Fiber metal laminates (FML) offer significant improvements over current available materials for aircraft structures due to their excellent mechanical characteristics and relatively low density. Non-destructive testing techniques are being used in the characterization of composite materials. Among these, vibration testing is one of the most used tools because it allows the determination of the mechanical properties. In this work, the viscoelastic properties such as elastic (E') and viscous (E) responses were obtained for aluminum 2024 alloy; carbon fiber/epoxy; glass fiber/epoxy and their hybrids aluminum 2024 alloy/carbon fiber/epoxy and aluminum 2024 alloy/glass fiber/epoxy composites. The experimental results were compared to calculated E modulus values by using the composite micromechanics approach. For all specimens studied, the experimental values showed good agreement with the theoretical values. The damping behavior, i.e. The storage modulus and the loss factor, from the aluminum 2024 alloy and fiber epoxy composites can be used to estimate the viscoelastic response of the hybrid FML. (c) 2005 Elsevier Ltd. All rights reserved.

Electromyographic preactivation pattern of the gluteus medius during weight-bearing functional tasks in women with and without anterior knee pain

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

A New Approach for Real Time Fault Diagnosis in Induction Motors Based on Vibration Measurement

Condition monitoring is used to increase machinery availability and machinery performance, reducing consequential damage, increasing machine life, reducing spare parts inventories, and reducing breakdown maintenance. An efficient real time vibration measurement and analysis instruments is capable of providing warning and predicting faults at early stages. In this paper, a new methodology for the implementation of vibration measurement and analysis instruments in real time based on circuit architecture mapped from a MATLAB/Simulink model is presented. In this study, signal processing applications such as FIR filters and fast Fourier transform are treated as systems, which are implemented in hardware using a system generator toolbox, which translates a Simulink model in a hardware description language - HDL for FPGA implementations.

Design of a control system using linear matrix inequalities for the active vibration control of a plate

The study of algorithms for active vibration control in smart structures is an area of interest, mainly due to the demand for better performance of mechanical systems, such as aircraft and aerospace structures. Smart structures, formed using actuators and sensors, can improve the dynamic performance with the application of several kinds of controllers. This article describes the application of a technique based on linear matrix inequalities (LMI) to design an active control system. The positioning of the actuators, the design of a robust state feedback controller and the design of an observer are all achieved using LMI. The following are considered in the controller design: limited actuator input, bounded output (energy) and robustness to parametric uncertainties. Active vibration control of a flat plate is chosen as an application example. The model is identified using experimental data by an eigensystem realization algorithm (ERA) and the placement of the two piezoelectric actuators and single sensor is determined using a finite element model (FEM) and an optimization procedure. A robust controller for active damping is designed using an LMI framework, and a reduced model with observation and control spillover effects is implemented using a computer. The simulation results demonstrate the efficacy of the approach, and show that the control system increases the damping in some of the modes.

Optimal design of smart structures using bonded plezoelectrics for vibration control

Smart material technology has become an area of increasing interest for the development of lighter and stronger structures which are able to incorporate actuator and sensor capabilities for collocated control. In the design of actively controlled structures, the determination of the actuator locations and the controller gains, is a very important issue. For that purpose, smart material modelling, modal analysis methods, control and optimization techniques are the most important ingredients to be taken into account. The optimization problem to be solved in this context presents two interdependent aspects. The first one is related to the discrete optimal actuator location selection problem which is solved in this paper using genetic algorithms. The second is represented by a continuous variable optimization problem, through which the control gains are determined using classical techniques. A cantilever Euler-Bernoulli beam is used to illustrate the presented methodology.

Optimal placement of piezoelectric sensor/actuators for smart structures vibration control

Smart material technology has become an area of increasing interest for the development of lighter and stronger structures that are able to incorporate actuator and sensor capabilities for collocated control. In the design of actively controlled structures, the determination of the actuator locations and the controller gains is a very important issue. For that purpose, smart material modeling, modal analysis methods, and control and optimization techniques are the most important ingredients to be taken into account. The optimization problem to be solved in this context presents two interdependent aspects. The first is related to the discrete optimal actuator location selection problem, which is solved in this paper using genetic algorithms. The second is represented by a continuous variable optimization problem, through which the control gains are determined using classical techniques. A cantilever Euler-Bernoulli beam is used to illustrate the presented methodology.