O mercado acionário brasileiro e a macroeconomia: um estudo sobre o impacto de indicadores macroeconômicos e da política monetária sobre diversos setores e índices de ações

Este trabalho consiste no estudo do tipo de correlação e previsibilidade existentes entre a bolsa brasileira, representada pelos índices Ibovespa e SmallCaps, e indicadores macroeconômicos, como produção industrial, inflação e Produto Interno Bruto. No processo, o mercado acionário é dividido setorialmente. Tal divisão tenta reduzir os riscos não sistêmicos através da diversificação de ações e se utiliza de um critério de liquidez pré-estabelecido. A parte final do trabalho estuda a relação desses setores com indicadores mais específicos da economia brasileira como crédito, inadimplência, vendas no varejo, produção e licenciamento de veículos.

The Brazilian foreign exchange market through the microstructure perspective

The objective of this study is to investigate whether the relationship between order ow and the spot exchange rate stems from the fact that the ow aggregates information on dispersed economic fundamentals in the economy. To perform this test, a database that includes all transactions of the commercial and nancial segments of the Brazilian primary foreign exchange market between January of 1999 and May of 2008 was used. We show that the order ow was partly responsible for variations in in ation expectations over the time period and that this relationship did not remain robust, drawing comparisons with other fundamentals such as GDP and Industrial Production.

Influência das principais commodities agropecuárias e de variáveis macroeconômicas sobre os preços da terra agrícola no Brasil

Este trabalho tem como proposta investigar como o preço de terras de uso rural no Brasil é afetado pelos preços e exportações das principais commodities agropecuárias, bem como por variáveis macroeconômicas, como taxa básica de juros, taxa de câmbio, taxa de inflação e disponibilidade de crédito agrícola. Para tal foram consideradas as produções agrícola de algodão, café, cana-de-açúcar (e seus principais produtos açúcar e etanol), milho e soja, a produção pecuária de carne bovina e a produção industrial de celulose de fibra curta com foco em sua principal matéria prima, os plantios reflorestados de eucalipto. Em linha com estudos anteriores, foi encontrada evidência empírica de que o preço da terra possui cointegração com algumas das variáveis agrícolas, pecuárias e florestais citadas, em especial em estados com maior vocação agropecuária e/ou para silvicultura. Quanto às variáveis macroeconômicas, apenas a taxa básica de juros apresentou cointegração com o preço de terras para todos os estados avaliados, taxa de câmbio e disponibilidade de crédito rural não aparecem como variáveis estatisticamente significantes. Conclui-se que, para estados com notável participação na balança comercial brasileira de produtos agrossilvipastoris, é possível obter um modelo de equilibro de longo prazo entre o preço da terra de uso rural e as variáveis destacadas acima, de modo que investidores do setor possam utilizá-lo como ferramenta de projeção no auxílio da tomada de decisão além de avaliar potenciais impactos no valor de seus ativos A inovação do presente estudo está em testar as hipóteses de cointegração para cada um dos estados da federação.

Estudo da potencialidade da incorporação de resíduo de granito e da queima da casca do café em cerâmica vermelha

The industrial production of ornamental rocks and the burning of coffee husk generate waste that is discarded into the environment. However, with the study of the incorporation of these residues in ceramic products, may be found an alternative to reducing environmental impacts and detrimental effects on human health caused by its indiscriminate disposal of waste in nature. Thus, this work aimed to study the addition of ashes of the coffee husk and granite residue in matrix of red ceramic. The raw materials were dry milled and sieved to mesh 100. To characterize the raw materials were carried out analyzes of X-ray diffraction (XRD), X-ray fluorescence (XRF), particle size analysis (PSA), differential thermal analysis (DTA) and thermogravimetric analysis (TG). Six formulations were prepared where the clay content was kept constant (70%wt) and ashes contents and granite residue varied from 10, 15, 20 and 30%. Dilatometrics analyzes were performed at four selected formulations, containing them: 100% clay (A100); 70% clay and 30% ashes (A70C30); 70% clay and 30% granite residue (A70G30); and 70% clay, 15% granite residue and 15% ashes (A70G15C15). The samples were prepared by uniaxial compaction with pressure of 25 MPa, and fired at temperatures of 800°C, 850ºC, 900ºC, 950ºC, 1000ºC and 1100°C. Assays were performed to determine the linear shrinkage of burning (LSB), water absorption (WA), apparent porosity (AP), density (D) and tensile bending. Also were performed analyzes of X-ray diffraction (XRD) and scanning electron microscopy (SEM) of the samples fired. The formulations incorporating granite residue and/or ashes reached the required limits of water absorption according to NBR 15270-1 and NBR 15310 and tensile bending according to classical literature (SANTOS, 1989) necessary for the production of tiles and ceramic block for masonry sealing

Síntese enzimática de ésteres de açúcar: surfactantes e polímeros como novos materiais ambientalmente seguros

Sugar esters are substances which possess surfactant, antifungical and bactericidal actions and can be obtained through two renewable sources of raw materials: sugars and vegetable oils. Their excellent biodegradability, allied to lhe fact that they are non toxic, insipid, inodorous, biocompatible, no-ionic, digestible and because they can resist to adverse conditions of temperature, pH and salinity, explain lhe crescent use of these substances in several sections of lhe industry. The objective of this thesis was to synthesize and characterize surfactants and polymers containing sugar branched in their structures, through enzymatic transesterification of vinyl esters and sugars, using alkaline protease from Bacillus subtilis as catalyst, in organic medium (DMF).Three types of sugars were used: L-arabinose, D-glucose and sucrose and two types of vinyl esters: vinyl laurate and vinyl adipate. Aiming to reach high conversions from substrates to products for a possible future large scale industrial production, a serie of variables was optimized, through Design of Experiments (DOE), using Response Surface Methodology (RSM).The investigated variables were: (1) enzyme concentration; (2) molar reason of substrates; (3) water/solvent rale; (4) temperature and (5) time. We obtained six distinct sugar esters: 5-0-lauroyl L-arabinose, 6-0-lauroyl D-glucose, 1'-O-lauroyl sucrose, 5-0-vinyladipoyl L-arabinose, 6-0-vinyladipoyl D-glucose and 1 '-O-vinyladipoyl sucrose, being lhe last three polymerizable. The progress of lhe reaction was monitored by HPLC analysis, through lhe decrease of sugar concentration in comparison to lhe blank. Qualitative analysis by TLC confirmed lhe formation of lhe products. In lhe purification step, two methodologies were adopted: (1) chromatographic column and (2) extraction with hot acetone. The acylation position and lhe chemical structure were determined by 13C-RMN. The polymerization of lhe three vinyl sugar esters was possible, through chemical catalysis, using H2O2 and K2S2O8 as initiators, at 60°C, for 24 hours. IR spectra of lhe monomers and respective polymers were compared revealing lhe disappearance of lhe vinyl group in lhe polymer spectra. The molar weights of lhe polymers were determined by GPC and presented lhe following results: poly (5-0-vinyladipoyl L-arabinose): Mw = 7.2 X 104; PD = 2.48; poly (6-0-vinyladipoyl D-glucose): Mw = 2.7 X 103; PD = 1.75 and poly (1'-O-vinyladipoyl sucrose): Mw = 4.2 X 104; PD = 6.57. The six sugar esters were submitted to superficial tension tests for determination of the critical micelle concentrations (CMC), which varied from 122 to 167 ppm. Finally, a study of applicability of these sugar esters, as lubricants for completion fluids of petroleum wells was' accomplished through comparative analysis of lhe efficiency of these sugar esters, in relation to three commercial lubricants. The products synthesized in this thesis presented equivalent or superior action to lhe tested commercial products

Metodologia de análise e diagnóstico de fratura em um componente automotivo sujeito a cargas cíclicas alternadas

The competitiveness of the trade generated by the higher availability of products with lower quality and cost promoted a new reality of industrial production with small clearances. Track deviations at the production are not discarded, uncertainties can statistically occur. The world consumer and the Brazilian one are supported by the consumer protection code, in lawsuits against the products poor quality. An automobile is composed of various systems and thousands of constituent parts, increasing the likelihood of failure. The dynamic and security systems are critical in relation to the consequences of possible failures. The investigation of the failure gives us the possibility of learning and contributing to various improvements. Our main purpose in this work is to develop a systematic, specific methodology by investigating the root cause of the flaw occurred on an axle end of the front suspension of an automobile, and to perform comparative data analyses between the fractured part and the project information. Our research was based on a flaw generated in an automotive suspension system involved in a mechanical judicial cause, resulting in property and personal damages. In the investigations concerning the analysis of mechanical flaws, knowledge on materials engineering plays a crucial role in the process, since it enables applying techniques for characterizing materials, relating the technical attributes required from a respective part with its structure of manufacturing material, thus providing a greater scientific contribution to the work. The specific methodology developed follows its own flowchart. In the early phase, the data in the records and information on the involved ones were collected. The following laboratory analyses were performed: macrography of the fracture, micrography with SEM (Scanning Electron Microscope) of the initial and final fracture, phase analysis with optical microscopy, Brinell hardness and Vickers microhardness analyses, quantitative and qualitative chemical analysis, by using X-ray fluorescence and optical spectroscopy for carbon analysis, qualitative study on the state of tension was done. Field data were also collected. In the analyses data of the values resulting from the fractured stock parts and the design values were compared. After the investigation, one concluded that: the developed methodology systematized the investigation and enabled crossing data, thus minimizing diagnostic error probability, the morphology of the fracture indicates failure by the fatigue mechanism in a geometrically propitious location, a tension hub, the part was subjected to low tensions by the sectional area of the final fracture, the manufacturing material of the fractured part has low ductility, the component fractured in an earlier moment than the one recommended by the manufacturer, the percentages of C, Si, Mn and Cr of the fractured part present values which differ from the design ones, the hardness value of the superior limit of the fractured part is higher than that of the design, and there is no manufacturing uniformity between stock and fractured part. The work will contribute to optimizing the guidance of the actions in a mechanical engineering judicial expertise

Estudo da viabilidade técnica do uso das argilas da região do agreste potiguar para produção de peças cerâmicas: caracterização e formulação

In recent decades, ceramic products have become indispensable to the technological development of humanity, occupying important positions in scientific production and consequently in industrial production. One area of the economy that continues to absorb large amounts of the products of this sector is Construction. Among the branches of the ceramic industry, there are the red ceramic industry which is traditionally the basis of that economic sector. Among the reasons for which the red ceramic industry became popular in the country, and specifically in Rio Grande do Norte, is the abundance of this raw material, easily found throughout the national territory. However, it appears that the red ceramic industry has deficiencies in technology and skilled labor, resulting in the production of ceramic goods with low added value. Among the factors that determine the quality of the ceramic products red has the proper formulation of the ceramic mass, the conformation and the firing temperature. Thus, the overall goal of this work is to study the mineralogical and technological properties, two clays from the region of the Wasteland Potiguar industrial ceramist. Therefore, the raw materials were characterized by analysis of Xray diffraction (XRD) analysis, X-ray fluorescence (XRF), particle size analysis (FA), scanning electron microscopy (SEM), optical microscopy (OM ), plasticity index (PI), thermal gravimetric analysis (TGA) and differential thermal analysis (DTA). The technological properties of the material were analyzed by water absorption tests (AA%) porosity (% PA), the linear shrinkage (RT%), apparent density (MEA), loss on ignition (PF%) and flexural strength three points (TRF)

Efeito de variáveis de processo no tempo de fermentação e na concentração das dicetonas vicinais totais

Among the main challenges in the beer industrial production is the market supply at the lowest cost and high quality, in order to ensure the expectations of customers and. consumers The beer fermentation stage represents approximately 70% of the whole time necessary to its production, having a obligatoriness of strict process controls to avoid becoming bottleneck in beer production. This stage is responsible for the formation of a series of subproducts, which are responsible for the composition of aroma/bouquet existing in beer and some of these subproducts, if produced in larger quantities, they will confer unpleasant taste and odor to the final product. Among the subproducts formed during the fermentation stage, total vicinal diketones is the main component, since it is limiting for product transfusion to the subsequent steps, besides having a low perception threshold by the consumer and giving undesirable taste and odor. Due to the instability of main raw materials quality and also process controls during fermentation, the development of alternative forms of beer production without impacting on total fermentation time and final product quality is a great challenge to breweries. In this work, a prior acidification of the pasty yeast was carried out, utilizing for that phosphoric acid, food grade, reducing yeast pH of about 5.30 to 2.20 and altering its characteristic from flocculent to pulverulent during beer fermentation. An increase of six times was observed in amount of yeast cells in suspension in the second fermentation stage regarding to fermentations by yeast with no prior acidification. With alteration on two input variables, temperature curve and cell multiplication, which goal was to minimize the maximum values for diketones detected in the fermenter tank, a reduction was obtained from peak of formed diacetyl and consequently contributed to reduction in fermentation time and total process time. Several experiments were performed with those process changes in order to verify the influence on the total fermentation time and total vicinal diketones concentration at the end of fermentation. This experiment reached as the best production result a total fermentation time of 151 hours and total vicinal diketone concentration of 0.08 ppm. The mass of yeast in suspension in the second phase of fermentation increased from 2.45 x 106 to 16.38 x 106 cells/mL of yeast, which fact is key to a greater efficiency in reducing total vicinal diketones existing in the medium, confirming that the prior yeast acidification, as well as the control of temperature and yeast cell multiplication in fermentative process enhances the performance of diketones reduction and consequently reduce the total fermentation time with diketones concentration below the expected value (Max: 0.10 ppm)

Medicina caseira em sete localidades da região de Bauru, SP

Este trabalho foi realizado nas localidades de Duartina, Piratininga, Presidente Alves, Bocaina, Boracéia, Dois Córregos e Potunduva (Região de Bauru), em 1981. O objetivo foi avaliar o conhecimento e o uso de plantas medicinais, pela população. Foram entrevistadas 372 pessoas, das quais, a maioria pertencia ao estrato social baixo. Mais de 95% das pessoas conheciam plantas medicinais, com grande utilização de duas a quatro variedades. O não-uso representou, no total, apenas 10,8%. O local de obtenção mais freqüente foi quintal, seguindo-se a farmácia. Citaram-se 118 plantas diferentes para uso medicinal Destas, em apenas 9,3% não se encontrou, na literatura, o nome científico correspondente e, em 17,0%, a indicação do valor medicinal O uso mencionado pelos entrevistados foi coincidente com os da literatura em quase 70% das vezes, em pelo menos um sintoma ou doença. Discutiram-se as razões do recente incremento da medicina caseira; alguns aspectos referentes à industrialização e comercialização de plantas medicinais e sublinhou-se a necessidade de promoção de pesquisas farmacológicas para o melhor conhecimento do valor terapêutico da flora medicinal brasileira.

Synergism among lactic acid, sulfite, pH and ethanol in alcoholic fermentation of Saccharomyces cerevisiae (PE-2 and M-26)

The industrial production of ethanol is affected mainly by contamination by lactic acid bacteria besides others factors that act synergistically like increased sulfite content, extremely low pH, high acidity, high alcoholic content, high temperature and osmotic pressure. In this research two strains of Saccharomyces cerevisiae PE-2 and M-26 were tested regarding the alcoholic fermentation potential in highly stressed conditions. These strains were subjected to values up to 200 mg NaHSO3 l(-1), 6 g lactic acid l(-1), 9.5% (w/v) ethanol and pH 3.6 during fermentative processes. The low pH (3.6) was the major stressing factor on yeasts during the fermentation. The M-26 strain produced higher acidity than the other, with higher production of succinic acid, an important inhibitor of lactic bacteria. Both strains of yeasts showed similar performance during the fermentation, with no significant difference in cell viability.

Critical current degradation of Bi-2223 composite tapes induced by cyclic deformation and fatigue-related effects

Application of high temperature superconductor Bi2Sr2Ca2Cu3Ox. (Bi-2223) compound embedded in an Ag matrix requires the knowledge of critical current as a function of mechanical properties. Commercial tapes available in different types have been developed in industrial production scale in which a combination of small diameter filaments, long tape lengths and a ductile matrix results in a conductor with low crack formation and good tolerance against strain. The measurement of critical current and the evaluation of n-index from V-I characteristic curves of Bi-2223/Ag composite tapes subjected to an initial bending strain as a function of number of thermal cycles were done for two types of Bi-2223/Ag composite tapes: with and without steel tape reinforcement. The results showed that tapes with reinforcement presented small critical current degradation as a function of the number of thermal cycles whereas tapes without reinforcement exhibited steadily critical current degradation caused by the propagation of cracks. The n-index followed the same critical current behavior.

Use of levoglucosan, potassium, and water-soluble organic carbon to characterize the origins of biomass-burning aerosols

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

A Lagrangian relaxation approach to a coupled lot-sizing and cutting stock problem

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Effect of lecithin and soy oil on the fermentative performance of Saccharomyces uvarum I Z 1904

The proposal of this work was to study the effects of lecithin and soy oil on the fermentative performance of Saccharomyces uvarum I Z 1904, a yeast used in the industrial production of ethanol. High Test Molasses (HTM) was chosen as the fermentation media because it is a substratum that is poor in nutrients, and because it permits one to distinguish the action of lipids from other nutritional factors. The study of the optimization of the concentration of lipids by surface response analysis showed that the lipids favor the performance of the yeast principally when applied separately. Maximum concentrations of the two sources of lipids in the media stimulated the budding rate but did not constitute a protection against cell death. Considering the action of lipids on the cellular parameters studied, the supplementation of the media with 3.0 g/l of soy oil permitted the obtention of maximum responses of cellular viability, budding rate and viability of the buds after 6 successive cycles. In relation to the fermentative parameters, the use of 1.5 g/l of soy oil provided high yields and an equilibrium between the mass of ethanol produced (EM) and the alcoholic yield (Y p/s) , whereas the cellular viability after 6 cycles did not differ statistically from that observed with 3g/l of oil.

Uso de resíduos agroindustriais nas produções de cana-de-açúcar, açúcar e álcool

In order to study the effect of gypsum, lime and the mixture of lime-gypsum, associated with syrup in the agricultural and industrial production and in the rooting of sugar-cane (Saccharum spp.), var. IAC 58-480, one experiment was carried out in soil Terra Roxa Estrutura. Sugar-cane was planted in November 1986, and the cane-plant harvesting in September 1988. Three successive harvests were collected.The experiment was set in a randomized block design with seven treatments and four replications .The treatments were: T1 - 1.2 ton/ha of lime; T2 - 0.8 ton/ha of lime + 0.4 ton/ha of gypsum; T3 - 0.6 ton/ha of lime + 0.6 ton/ha of gypsum; T4 - 0.4 ton/ha of lime + 0.8 ton/ha of gypsum; T5 - 1.2 ton/ha of gypsum; T6 - 2.4 ton/ha of gypsum; T7 - control. Syrup was applied at the amount of 45 m3/ha.In September 1990, after the third harvesting, the second application of the treatments was made, the gypsum being applied in amounts four times greater than those of that put into practice at the planting. During harvest, the following parameters were evaluated: number, length and average diameter of the stalks; yield; and probable sugar and theoretical alcohol production per hectare.The results showed that the second application of the treatments recuperated the crop. Greater yields were achieved when the gypsum was associated with lime or syrup.