Maine Ski Areas: Past and Present

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On Rememberance of Things Past: Woodstock and the Counterculture

The natural disposition of mankind is to want Utopia. In literature from the very beginning, from our most primitive to our most sophisticated verses, from the pens of atheists to acolytes, the human spirit has always scratched out, searched, even longed, for Utopias. When Utopias can somehow be linked to a political entity, the subsequent delirium from would-be followers numbers millions.

Past and future of the bankruptcy law in Brazil and Latin America

This paper studies the Bankruptcy Law in Latin America, focusing on the Brazilian reform. We start with a review of the international literature and its evolution on this subject. Next, we examine the economic incentives associated with several aspects of bankruptcy laws and insolvency procedures in general, as well as the trade-offs involved. After this theoretical discussion, we evaluate empirically the current stage of the quality of insolvency procedures in Latin America using data from Doing Business and World Development Indicators, both from World Bank and International Financial Statistics from IMF. We find that the region is governed by an inefficient law, even when compared with regions of lower per capita income. As theoretical and econometric models predict, this inefficiency has severe consequences for credit markets and the cost of capital. Next, we focus on the recent Brazilian bankruptcy reform, analyzing its main changes and possible effects over the economic environment. The appendix describes difficulties of this process of reform in Brazil, and what other Latin American countries can possibly learn from it.

"We sold a million units": the role of advertising past-sales

In a market where past-sales embed information about consumers’ tastes (quality), we analyze the seller’s incentives to invest in a costly advertising campaign to report them under two informational assumptions. In the …rst scenario, a pooling equilibrium with past-sales advertising is derived. Information revelation only occurs when the seller bene…ciates from the herding behaviour that the advertising campaign induces on the part of consumers. In the second informational regime, a separating equilibrium with past-sales advertising is computed. Information revelation always happens, either through prices or through costly advertisements.

The impact of past hyperinflation on current household investment behavior

Neste estudo é proposto que a instabilidade macroeconômica extrema causada pela hiperinflação nas décadas de 80 e 90 no Brasil causou um efeito de longo prazo no comportamento de poupança dos indivíduos. Usando dados da Pesquisa Nacional por Amostra de Domicílio (PNAD) de 2009 e 2011 e um questionário complementar, encontramos três evidências significantes: (1) indivíduos que possuem memória do período de hiperinflação no Brasil tem uma menor probabilidade de participar do mercado de ações; (2) há uma forte evidência que pessoas que estavam em idade formativa durante a hiperinflação são menos dispostos de possuir algum tipo de instrumento financeiro do que pessoas que tiveram a experiência desse choque macroeconômico em outros períodos de suas vidas; (3) mulheres solteiras são muito mais prováveis de ter uma poupança financeira que homens solteiros.

Strenghthening long-term growth in Brazil

This paper is devoted to an examination of the main issues identified with Brazil’s barriers to growth in the long term. It begins with a decomposition of per capita and total GDP long term growth to identify the main proximate sources of Brazil’s growth deceleration. Most of the analysis in this part concentrates on factors affecting aggregate supply. The reason for this approach is that, within certain limits past experience reveals that it is easy to stimulate aggregate demand via fiscal and monetary stimuli in Brazil. The risk is on bumping into production capacity barriers, i.e., supply constraints. Five substantially diversified but interconnected issues have been raised in the literature as supply constraints, many of which associated to a rate of savings lower than deemed necessary for sustaining faster growth: the tax burden, institutional factors, infrastructure, finance and education. Accordingly, the paper also deals with the issues of a high an increasing tax burden, institutional shortcomings and policy settings, insufficient investment in infrastructure, insufficient long term financing, and educational shortcomings, as growth impediments. A survey of policies aimed at removing the barriers to growth thus identified is presented next. The paper concludes by bringing again to the fore the need to increase savings and investment for growth resumption and by speculating on the growth potential of Brazil, conditional on productivity and investment growth.

Drug delivery systems: Past, present, and future

Drug delivery systems are essential components of drugs controlled release. In the last decades, several drug delivery technologies have emerged including capsules, liposomes. microparticles, nanoparticles, and polymers. These components must be biocompatible, biodegradable, and display a desired biodistribution providing a long-term availability of the therapeutic at specific target over time.

Computations of the flow past a still sphere at moderate reynolds numbers using an immersed boundary method

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Peripheral facial palsy in the past: contributions from Avicenna, Nicolaus Friedreich and Charles Bell

Este estudo apresenta documentos de paralisia facial periférica nas artes plásticas no Egito antigo, Grécia e Roma, Idade Média, Renascimento e também dos últimos 4 séculos. Pensamos que a história da paralisia facial periférica acompanha a história da própria espécie humana. São apresentadas as contribuições de Avicenna e Nicolaus Friedreich, e são mostradas controvérsias sobre a descrição original de Charles Bell.