Legal enforcement, collateral and heterogeneity of project financing contracts

This paper employs mechanism design to study the effects of imperfect legal enforcement on optimal scale of projects, borrowing interest rates and the probability of default. The analysis departs from an environment that combines asymmetric information about cash flows and limited commitment by borrowers. Incentive for repayment comes from the possibility of liquidation of projects by a court, but courts are costly and may fail to liquidate. The value of liquidated assets can be used as collateral: it is transferred to the lender when courts liquidate. Examples reveal that costly use of courts may be optimal, which contrasts with results from most limited commitment models, where punishments are just threats, never applied in optimal arrangements. I show that when voluntary liquidation is allowed, both asymmetric information and uncertainty about courts are necessary conditions for legal punishments ever to be applied. Numerical solutions for several parametric specifications are presented, allowing for heterogeneity on initial wealth and variability of project returns. In all such solutions, wealthier individuals borrow with lower interest rates and run higher scale enterprises, which is consistent with stylized facts. The reliability of courts has a consistently positive effect on the scale of projects. However its effect on interest rates is subtler and depends essentially on the degree of curvature of the production function. Numerical results also show that the possibility of collateral seizing allows comovements of the interest rates and the probability of repayment.

Exclusivity contracts and competition : the case of the Brazilian fuels market

Exclusivity contracts can help stations by providing brand-value that allows them to obtain higher profits, relative to unbranded retailers. However, branded retailers may have a stronger negative effect over its competitors’ profits. It is not clear which one of these two effects dominates (brand-value vs competition effect). Therefore, the impact of exclusivity over the number of participants in the downstream market is not determined. In this paper, I empirically study the effects of exclusivity agreements on competition in the Brazilian gasoline sector. In order to do so, I estimate an entry model of endogenous product-type choices using data of retailers’ locations and contract choices along with data from the 2010 Brazilian Census. I use my estimates to simulate entry decisions under two counterfactual scenarios: i) mandatory exclusivity and ii) no exclusivity.

Enhancing comprehension in low achievement 9th grades: a quasi-experiment study

This article describes the application of a Comprehension Strategies Programme (CSP) designed to improve the reading comprehension of students with learning difficulties. The programme was implemented with 102 ninth grade students from Portuguese public schools with low achievement on a particular subject: Portuguese. An evaluation was done on the effects of the programme on reading comprehension and on school achievement. The Experimental Group presented significant improvements when compared to the Control Group (n=108) on the dimensions considered. This indicates that the CSP an bring benefits to low achieving students who have Portuguese as a mother tongue.

Uma nova proposta de antenas Quasi-Yagi banda larga para comunicação sem fio

ln this work, planar quasi- Y agi antennas are investigated based on the concept of the classic Y agi_Uda antennas. These antennas represent improvements on the topologies of the antennas existing printed because they present characteristics of broad bandwidth, excellent radiation diagrams and simple construction. New configurations are adapted for the driver of the antennas, introducing patches elements into the driver. These new configurations are named Patches Elements Anteonas (PEA). This adaptation is obtained from simulations that are executed usiog the software C8T Microwave 8tudio 5. After doing the optimizations, procedures for construction and measurement ofthe prototypes are executed in order to improve the performance of the antennas in such way that they could be used in wireless communication applications, such as Bluetooth, WLAN' s and Wi-Fi. Next, the quasi- Y agi antennas are studied in order to implement them in arrangements. The arrangements construction is based 00 the best driver configuration of the antenna developed in this work. First, a linear arrangement composed by two elements of quasi¬Yagi antennas is constructed in such way that the radiation characteristics and the mutual coupling effects could be analyzed. After that, a 90° angle arrangement composed by two elements is studied to observe the effect of circular polarization. Experiments are executed in order to evaluate the arrangements performance. The experimental results show that the analysis made in this work is efficient and accurate. The numerical values obtained for the analyzed parameters of each structure developed are compared with the experimental values. 80, it is possible to observe a good concordance between them. Finally, some future works proposals are presented

Espectro de Polariton de Plasmons e Ondas de Luz em Quasi-Cristais

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior

Ondas de spin em quasi-cristais magnônicos

In this paper we investigate the spectra of band structures and transmittance in magnonic quasicrystals that exhibit the so-called deterministic disorders, specifically, magnetic multilayer systems, which are built obeying to the generalized Fibonacci (only golden mean (GM), silver mean (SM), bronze mean (BM), copper mean (CM) and nickel mean (NM) cases) and k-component Fibonacci substitutional sequences. The theoretical model is based on the Heisenberg Hamiltonian in the exchange regime, together with the powerful transfer matrix method, and taking into account the RPA approximation. The magnetic materials considered are simple cubic ferromagnets. Our main interest in this study is to investigate the effects of quasiperiodicity on the physical properties of the systems mentioned by analyzing the behavior of spin wave propagation through the dispersion and transmission spectra of these structures. Among of these results we detach: (i) the fragmentation of the bulk bands, which in the limit of high generations, become a Cantor set, and the presence of the mig-gap frequency in the spin waves transmission, for generalized Fibonacci sequence, and (ii) the strong dependence of the magnonic band gap with respect to the parameters k, which determines the amount of different magnetic materials are present in quasicrystal, and n, which is the generation number of the sequence k-component Fibonacci. In this last case, we have verified that the system presents a magnonic band gap, whose width and frequency region can be controlled by varying k and n. In the exchange regime, the spin waves propagate with frequency of the order of a few tens of terahertz (THz). Therefore, from a experimental and technological point of view, the magnonic quasicrystals can be used as carriers or processors of informations, and the magnon (the quantum spin wave) is responsible for this transport and processing

Sistemas Nanoestruturados: Heteroestruturas Quasi-Periódicas de Nitretos e Cálculos Ab initio em Polimorfos CaCO3

The physical properties and the excitations spectrum in oxides and semiconductors materials are presented in this work, whose the first part presents a study on the confinement of optical phonons in artificial systems based on III-V nitrides, grown in periodic and quasiperiodic forms. The second part of this work describes the Ab initio calculations which were carried out to obtain the optoeletronic properties of Calcium Oxide (CaO) and Calcium Carbonate (CaCO3) crystals. For periodic and quasi-periodic superlattices, we present some dynamical properties related to confined optical phonons (bulk and surface), obtained through simple theories, such as the dielectric continuous model, and using techniques such as the transfer-matrix method. The localization character of confined optical phonon modes, the magnitude of the bands in the spectrum and the power laws of these structures are presented as functions of the generation number of sequence. The ab initio calculations have been carried out using the CASTEP software (Cambridge Total Sequential Energy Package), and they were based on ultrasoft-like pseudopotentials and Density Functional Theory (DFT). Two di®erent geometry optimizations have been e®ectuated for CaO crystals and CaCO3 polymorphs, according to LDA (local density approximation) and GGA (generalized gradient approximation) approaches, determining several properties, e. g. lattice parameters, bond length, electrons density, energy band structures, electrons density of states, e®ective masses and optical properties, such as dielectric constant, absorption, re°ectivity, conductivity and refractive index. Those results were employed to investigate the confinement of excitons in spherical Si@CaCO3 and CaCO3@SiO2 quantum dots and in calcium carbonate nanoparticles, and were also employed in investigations of the photoluminescence spectra of CaCO3 crystal

The Quasi-lattice of Indiscernible Elements

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

Evaluation of stitched fabric composite processed by RTM in quasi-static test

Stitched fabrics have been widely studied for potential application in aircraft structures since stitch yarns offer improvements in the out-of-plane mechanical properties and also can save time in the lay up process. The down side of stitch yarns came up in the manufacturing process of fabric in which defects introduced by the needle movement creating fiber-free-zones, fiber breakage and misalignment of fibers. The dry stitched carbon fabric preform has mainly been used in the Resin Transfer Molding (RTM) process which high fiber content is aimed, those defects influence negatively the injection behavior reducing the mechanical properties of final material. The purpose of this research work focused on testing in quasi-static mechanical mode (in-plane tension) of a monocomponent resin CYCOM (R) 890 RTM/carbon fiber anti-symmetric quadriaxial fabric stitched by PE 80Dtex yarn processed by RTM. The evaluation consisted in comparing the scatter of the quasi-static test with the attenuation of ultrasonic maps, which show the path of the resin and possible dry spots considering that interference of yarn in resin flow is detectable in ultrasonic measurement. Microscopic analysis was also considered for further evaluation in case of premature failure. (C) 2011 Published by Elsevier Ltd. Selection and peer-review under responsibility of ICM11

Black soliton in a quasi-one-dimensional trapped fermion-fermion mixture

Employing a time dependent mean-field-hydrodynamic model we study the generation of black solitons in a degenerate fermion-fermion mixture in a cigar-shaped geometry using variational and numerical solutions. The black soliton is found to be the first stationary vibrational excitation of the system and is considered to be a nonlinear continuation of the vibrational excitation of the harmonic oscillator state. We illustrate the stationary nature of the black soliton, by studying different perturbations on it after its formation.

Dissipation-managed soliton in a quasi-one-dimensional Bose-Einstein condensate

We use the time-dependent mean-field Cross-Pitaevskii equation to study the formation of a dynamically-stabilized dissipation managed bright soliton in a quasi-one dimensional Bose-Einstein condensate (BEC). Because of three-body recombination of bosonic atoms to molecules, atoms are lost (dissipated) from a BEC. Such dissipation leads to the decay of a BEC soliton. We demonstrate by a perturbation procedure that an alimentation of atoms from an external source to the BEC may compensate for the dissipation loss and lead to a dynamically-stabilized soliton. The result of the analytical perturbation method is in excellent agreement with mean-field numerics. It seems possible to obtain such a dynamically stabilized BEC soliton without dissipation in laboratory.

Thermodynamics of quasi-particles

We present in this work a generalization of the solution of Gorenstein and Yang to the inconsistency problem of thermodynamics for systems with a temperature dependent Hamiltonian. We show that there are, in principle, an infinite number of solutions.

Time evolution of the Wigner function in discrete quantum phase space for a soluble quasi-spin model

The discrete phase space approach to quantum mechanics of degrees of freedom without classical counterparts is applied to the many-fermions/quasi-spin Lipkin model. The Wi:ner function is written for some chosen states associated to discrete angle and angular momentum variables, and the rime evolution is numerically calculated using the discrete von Neumnnn-Liouville equation. Direct evidences in the lime evolution of the Wigner function are extracted that identify a tunnelling effect. A connection with a SU(2)-based semiclassical continuous approach to the Lipkin model is also presented.

Quantum spin tunneling in a soluble quasi-spin model: an angle-based potential description

We propose an approach which allows one to construct and use a potential function written in terms of an angle variable to describe interacting spin systems. We show how this can be implemented in the Lipkin-Meshkov-Glick, here considered a paradigmatic spin model. It is shown how some features of the energy gap can be interpreted in terms of a spin tunneling. A discrete Wigner function is constructed for a symmetric combination of two states of the model and its time evolution is obtained. The physical information extracted from that function reinforces our description of phase oscillations in a potential. (c) 2004 Elsevier B.V. All rights reserved.

Mixing-demixing transition and collapse of a vortex state in a quasi-two-dimensional boson-fermion mixture

We investigate the mixing-demixing transition and the collapse in a quasi-two-dimensional degenerate boson-fermion mixture (DBFM) with a bosonic vortex. We solve numerically a quantum-hydrodynamic model based on a new density functional which accurately takes into account the dimensional crossover. It is demonstrated that with the increase of interspecies repulsion, a mixed state of DBFM could turn into a demixed state. The system collapses for interspecies attraction above a critical value which depends on the vortex quantum number. For interspecies attraction just below this critical limit there is almost complete mixing of boson and fermion components. Such mixed and demixed states of a DBFM could be experimentally realized by varying an external magnetic field near a boson-fermion Feshbach resonance, which will result in a continuous variation of interspecies interaction.