Inflation persistence and flexible prices

The inability of rational expectation models with money supply rules to deliver inflation persistence following a transitory deviation of money growth from trend is due to the rapid adjustment of the price level to expected events. The observation of persistent inflation in macroeconomic data leads many economists to believe that prices adjust sluggishly and/or expectations must not be rational. Inflation persistence in U.S. data can be characterized by a vector autocorrelation function relating inflation and deviations of output from trend. In the vector autocorrelation function both inflation and output are highly persistent and there are significant positive dynamic cross-correlations relating inflation and output. This paper shows that a flexible-price general equilibrium business cycle model with money and a central bank using a Taylor rule can account for these patterns. There are no sticky prices and no liquidity effects. Agents decisions in a period are taken only after all shocks are observed. The monetary policy rule transforms output persistence into inflation persistence and creates positive cross-correlations between inflation and output.

Flexible information acquisition and optimal Tobin tax in tractable dynamic global games

My dissertation focuses on dynamic aspects of coordination processes such as reversibility of early actions, option to delay decisions, and learning of the environment from the observation of other people’s actions. This study proposes the use of tractable dynamic global games where players privately and passively learn about their actions’ true payoffs and are able to adjust early investment decisions to the arrival of new information to investigate the consequences of the presence of liquidity shocks to the performance of a Tobin tax as a policy intended to foster coordination success (chapter 1), and the adequacy of the use of a Tobin tax in order to reduce an economy’s vulnerability to sudden stops (chapter 2). Then, it analyzes players’ incentive to acquire costly information in a sequential decision setting (chapter 3). In chapter 1, a continuum of foreign agents decide whether to enter or not in an investment project. A fraction λ of them are hit by liquidity restrictions in a second period and are forced to withdraw early investment or precluded from investing in the interim period, depending on the actions they chose in the first period. Players not affected by the liquidity shock are able to revise early decisions. Coordination success is increasing in the aggregate investment and decreasing in the aggregate volume of capital exit. Without liquidity shocks, aggregate investment is (in a pivotal contingency) invariant to frictions like a tax on short term capitals. In this case, a Tobin tax always increases success incidence. In the presence of liquidity shocks, this invariance result no longer holds in equilibrium. A Tobin tax becomes harmful to aggregate investment, which may reduces success incidence if the economy does not benefit enough from avoiding capital reversals. It is shown that the Tobin tax that maximizes the ex-ante probability of successfully coordinated investment is decreasing in the liquidity shock. Chapter 2 studies the effects of a Tobin tax in the same setting of the global game model proposed in chapter 1, with the exception that the liquidity shock is considered stochastic, i.e, there is also aggregate uncertainty about the extension of the liquidity restrictions. It identifies conditions under which, in the unique equilibrium of the model with low probability of liquidity shocks but large dry-ups, a Tobin tax is welfare improving, helping agents to coordinate on the good outcome. The model provides a rationale for a Tobin tax on economies that are prone to sudden stops. The optimal Tobin tax tends to be larger when capital reversals are more harmful and when the fraction of agents hit by liquidity shocks is smaller. Chapter 3 focuses on information acquisition in a sequential decision game with payoff complementar- ity and information externality. When information is cheap relatively to players’ incentive to coordinate actions, only the first player chooses to process information; the second player learns about the true payoff distribution from the observation of the first player’s decision and follows her action. Miscoordination requires that both players privately precess information, which tends to happen when it is expensive and the prior knowledge about the distribution of the payoffs has a large variance.

Comparative study between the effects of hyaluronic acid and acid galactan purified from eggs of the mollusk Pomacea sp in wound healing

To compare the effect of hyaluronic acid (HA) and of AG on the healing of intestine wounds. Methods: The semi-purified extract of the eggs of the mollusc was obtained by fractionation with ammonium sulfate and purification for ion-exchange chromatography. The obtained galactans were eluted in water (neutral galactan) and in 0.1 and 0.2M NaCl (acidic galactans). The in vivo study was performed with 45 “Wistar” rats, separated in three groups (n=15). Solutions containing HA 1%, GA 1% or saline solution 0,9%, was placed topically on the sutures of wounds in the small intestine of the rats. After 05, 10 and 21 days the animals were sacrificed and biopsy of the healing tissue was done. Results: The hystologic grading was more significant for HA and AG groups when compared to the group C. AG stimulated the appearance of macrophages, giant cells and increase in the concentration of collagen in the area of the wound when compared to HA. Conclusion: The topical use of GA in intestinal wounds promoted the anticipation of events that are important in the wound healing

Morphology of the eggs and larvae of Cyphomyrmex transversus Emery (Formicidae: Myrmicinae: Attini) and a note on the relationship with its symbiotic fungus

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Preferential infection sites of Cysticercus bovis in cattle experimentally infected with Taenia saginata eggs

The preferential sites of infection of Cysticercus bovis were evaluated in the skeletal muscle and entrails of 25 cattle that were experimentally infected with Taenia saginata (2 x 10(4) eggs). Two other animals were not inoculated (control). Ninety days after inoculation, all the cattle were euthanized. The carcasses were deboned and dissected into 26 anatomical sections (masseter muscles, brain, tongue, esophagus, heart, diaphragm, lungs, liver, kidneys, spleen, top sirloin butt, bottom sirloin butt, outside round, top (inside) round, transversus abdominus, top sirloin cap, strip loin, full tenderloin, eye of round, knuckle, shoulder clod, foreshank, shank, chuck, back ribs, and tail muscles). The dissected tissues were sliced into 5 mm sections. From the 25 cattle, 9258 C. bovis (cysticerci) were recovered; 75.02% (6946) of these were recovered from skeletal muscles and 24.98% (2312) from the entrails. A high parasitism level was found in the shoulder clod (12.55%), heart (11.02%), liver (9.48%), masseter muscles (8.51%), chuck (8.25%), strip loin and full tenderloin (7.26%), knuckle (6.63%), and back ribs (5.53%), totaling 69.23% (5738) of all of the detected cysticerci. on the other hand, there was a low C. bovis parasitism level in the brain, spleen, tail muscles, kidneys, esophagus, and diaphragm, representing just 3.9% of the total number of cysticerci. Given these results, we conclude that specific skeletal musculature regions, such as the shoulder blade, chuck, strip loin and full tenderloin, knuckle, back ribs and top round, which are not officially examined in many countries, are effective sites to efficiently screen C. bovis infection. To date, these regions have not been considered as preferential sites of C. bovis infection. Based on our work, however, these regions deserve greater attention from health inspectors because they contained a greater number of Cysticercus than the other regions of carcasses that are parasitized by T. saginata larvae. (c) 2010 Elsevier Ltd. All rights reserved.

Fertility life table of Trichogramma pretiosum and Trichogramma acacioi (Hymenoptera : Trichogrammatidae) on Sitotroga cerealella (Lepidoptera : Gelechiidae) eggs at different constant temperatures

Fertility life tables were developed for both Trichogramma pretiosum and Trichogramma acacioi reared on Sitotroga cerealella eggs as an alternative host at five different temperatures. The egg parasitoids were first collected from Nipteria panacea eggs, a lepidopterous pest of avocado. Egg parasitoid females were individualized in small glass vials along with 40 eggs of the host during 24 h for parasitization. For evaluation of the parasitism capacity, a similar procedure was adopted, but cardboards with eggs were replaced every day. The net reproductive rate (Ro), intrinsic rate of increase (rm), finite rate of increase (lambda), and mean generation time (T) were estimated. Temperature affected all parameters for both Trichogramma species. The highest fecundity for both species was observed at 25degreesC. Extreme temperatures such as 15degreesC or 35degreesC negatively affect the development rate of both species.

Effect of the insecticides abamectin and lufenuron on eggs and larvae of Chrysoperla externa under laboratory conditions

The side effects of two insecticides/acaricides, abamectin and lufenuron, on the eggs and larvae of Chrysoperla externa (Hagen) were studied in the laboratory (25 +/- 2degreesC, 62 +/- 10% RH and 12-h photophase). The analytical methods used were those proposed by the International Organization for Biological Control (IOBC)-Working Group for 'Pesticides and Beneficial Organisms'. Chrysoperla externa egg viability was not affected by abamectin. Neonate larvae from abamectin sprayed eggs as well as first, second and third instar larvae that were directly treated, developed normally and yielded normal adults. Lufenuron presented no adverse effects on egg survival. However, lufenuron induced high mortality in neonate larvae from treated eggs. These neonates, as well as lufenuron treated first and second instar larvae could not molt. In the third instar, high pupal mortality occurred. The results showed that abamectin is innocuous and that lufenurom is toxic to Chrysoperla externa eggs and larvae.

Biology and thermal requirements of Telenomus remus reared on fall armyworm Spodoptera frugiperda eggs

Este trabalho teve como objetivo estudar a biologia de Telenomus remus Nixon criado em ovos de Spodoptera frugiperda (J.E. Smith) em diferentes temperaturas. Com base no desenvolvimento do ciclo (ovo-adulto), foram determinados as exigências térmicas e o número de gerações dos parasitóides em temperaturas constantes. Inicialmente, ovos de S. frugiperda, com 24 horas de idade, foram submetidos ao parasitismo por T. remus, durante cinco horas, sendo então transferidos para câmaras climatizadas reguladas para as temperaturas de 15, 20, 25, 28, 31 e 35°C. A duração do ciclo (ovo-adulto) foi influenciada pela temperatura variando de 8,3±0,01 a 47,2±0,01 dias para fêmeas e 8,1±0,01 a 46,8±0,01 dias para machos de T. remus nas temperaturas de 31 e 15°C, respectivamente. A porcentagem de emergência (viabilidade) de T. remus em ovos de S. frugiperda também foi influenciada pela variação da temperatura, apresentando redução significativa apenas nas temperaturas extremas. Foi observada redução na viabilidade a 15°C e não houve desenvolvimento biológico do parasitóide a 35°C. A razão sexual de T. remus não sofreu influência da temperatura. em relação às exigências térmicas, a constante térmica (K) e temperatura base (Tb) foram maiores para as fêmeas de T. remus (158,88 graus dias e 12,52°C) quando comparadas aos machos (154,12 graus dias e 12,59°C). A estimativa do número de gerações anuais para T. remus para machos e fêmeas em condições de laboratório foi respectivamente 5,6 e 5,6; 16,9 e 17,3; 28,3 e 29,0; 35,1 e 36,0; 39,6 e 40,7 nas temperaturas de 15, 20, 25, 28 e 31°C.

Functional response of Telenomus remus Nixon(Hymenoptera, Scelionidae) to Spodoptera frugiperda (J. E. Smith) (Lepidoptera, Noctuidae) eggs: effect of female age

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)