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.

Affine processes, arbitrage-Free Term structures of legendre polynomials,and option pricing

Multivariate Affine term structure models have been increasingly used for pricing derivatives in fixed income markets. In these models, uncertainty of the term structure is driven by a state vector, while the short rate is an affine function of this vector. The model is characterized by a specific form for the stochastic differential equation (SDE) for the evolution of the state vector. This SDE presents restrictions on its drift term which rule out arbitrages in the market. In this paper we solve the following inverse problem: Suppose the term structure of interest rates is modeled by a linear combination of Legendre polynomials with random coefficients. Is there any SDE for these coefficients which rules out arbitrages? This problem is of particular empirical interest because the Legendre model is an example of factor model with clear interpretation for each factor, in which regards movements of the term structure. Moreover, the Affine structure of the Legendre model implies knowledge of its conditional characteristic function. From the econometric perspective, we propose arbitrage-free Legendre models to describe the evolution of the term structure. From the pricing perspective, we follow Duffie et al. (2000) in exploring Legendre conditional characteristic functions to obtain a computational tractable method to price fixed income derivatives. Closing the article, the empirical section presents precise evidence on the reward of implementing arbitrage-free parametric term structure models: The ability of obtaining a good approximation for the state vector by simply using cross sectional data.

Um Estudo de Politicas e Práticas do uso do GNV no transporte público urbano do Brasil

The use of Natural Gas Vehicle has had a fast increase lately. However, in order to have a continuous success this Program needs to develop converting devices of Otto-cycle engines, gasoline or alcohol, to the use of NGV (Natural Gas Vehicle) that presents low cost, maintaining the same original development of the vehicle and low level of emissions, considering the PROCONVE rules. Due to the need to diversify the matrix in order to avoid energetic dependence and due to strict pollution control, it has increased in the Brazilian market the number of vehicles converted to the use of NGV. The recent regulation of the PROCONVE, determining that the converted engines with kits should be submitted to emission testing, comes to reinforce the necessity of the proposed development. Therefore, if we can obtain kits with the characteristics already described, we can reach a major trust in the market and obtain an increase acceptance of the vehicle conversion for NGV. The use of natural gas as vehicle fuel presents several advantages in relation to liquid fuels. It is a vehicle fuel with fewer indexes of emissions when compared to diesel; their combustion gases are less harmful, with a major level of safety than liquid fuels and the market price is quite competitive. The preoccupation that emerges, and the motivation of this project, is to know which are the main justifications for such technology, well accepted in other countries, with a low index or emission, with a high level of safety, where its maintenance becomes low, reminding that for this it is necessary that this technology has to be used properly, and once available in the market will not motivate interest in the urban transportation companies in Brazil, in research centers in general. Therefore this project exists to show the society in a general way the current vision of the main governmental factors, of the national research centers and of the private companies concerning the use of natural gas vehicles in urban transport vehicles, in order to give a major reliability to the population as well as to motivate national market competitiveness with a low cost and reliable product and to enrich the national technology

Avaliacao de dados de secagem de suspensoes de polpas de frutas em leito de jorro com alimentacao intermitente

The objective of this work was the development and improvement of the mathematical models based on mass and heat balances, representing the drying transient process fruit pulp in spouted bed dryer with intermittent feeding. Mass and energy balance for drying, represented by a system of differential equations, were developed in Fortran language and adapted to the condition of intermittent feeding and mass accumulation. Were used the DASSL routine (Differential Algebraic System Solver) for solving the differential equation system and used a heuristic optimization algorithm in parameter estimation, the Particle Swarm algorithm. From the experimental data food drying, the differential models were used to determine the quantity of water and the drying air temperature at the exit of a spouted bed and accumulated mass of powder in the dryer. The models were validated using the experimental data of drying whose operating conditions, air temperature, flow rate and time intermittency, varied within the limits studied. In reviewing the results predicted, it was found that these models represent the experimental data of the kinetics of production and accumulation of powder and humidity and air temperature at the outlet of the dryer

Evolução top-hat hidrodinâmica em campos de velocidades peculiares primordiais

We investigate the cosmology of the vacuum energy decaying into cold dark matter according to thermodynamics description of Alcaniz & Lima. We apply this model to analyze the evolution of primordial density perturbations in the matter that gave rise to the first generation of structures bounded by gravity in the Universe, called Population III Objects. The analysis of the dynamics of those systems will involve the calculation of a differential equation system governing the evolution of perturbations to the case of two coupled fluids (dark matter and baryonic matter), modeled with a Top-Hat profile based in the perturbation of the hydrodynamics equations, an efficient analytical tool to study the properties of dark energy models such as the behavior of the linear growth factor and the linear growth index, physical quantities closely related to the fields of peculiar velocities at any time, for different models of dark energy. The properties and the dynamics of current Universe are analyzed through the exact analytical form of the linear growth factor of density fluctuations, taking into account the influence of several physical cooling mechanisms acting on the density fluctuations of the baryonic component of matter during the evolution of the clouds of matter, studied from the primordial hydrogen recombination. This study is naturally extended to more general models of dark energy with constant equation of state parameter in a flat Universe

Excitações em cristais fotônicos unidimensionais

In this work, we present a theoretical study of the propagation of electromagnetic waves in multilayer structures called Photonic Crystals. For this purpose, we investigate the phonon-polariton band gaps in periodic and quasi-periodic (Fibonacci-type) multilayers made up of both positive and negative refractive index materials in the terahertz (THz) region. The behavior of the polaritonic band gaps as a function of the multilayer period is investigated systematically. We use a theoretical model based on the formalism of transfer matrix in order to simplify the algebra involved in obtaining the dispersion relation of phonon-polaritons (bulk and surface modes). We also present a quantitative analysis of the results, pointing out the distribution of the allowed polaritonic bandwidths for high Fibonacci generations, which gives good insight about their localization and power laws. We calculate the emittance spectrum of the electromagnetic radiation, in THZ frequency, normally and obliquely incident (s and p polarized modes) on a one-dimensional multilayer structure composed of positive and negative refractive index materials organized periodically and quasi-periodically. We model the negative refractive index material by a effective medium whose electric permittivity is characterized by a phonon-polariton frequency dependent dielectric function, while for the magnetic permeability we have a Drude like frequency-dependent function. Similarity to the one-dimensional photonic crystal, this layered effective medium, called polaritonic Crystals, allow us the control of the electromagnetic propagation, generating regions named polaritonic bandgap. The emittance spectra are determined by means of a well known theoretical model based on Kirchoff s second law, together with a transfer matrix formalism. Our results shows that the omnidirectional band gaps will appear in the THz regime, in a well defined interval, that are independent of polarization in periodic case as well as in quasiperiodic case

Scattering and bound states of spinless particles in a mixed vector-scalar smooth step potential

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Alumina porous ceramics: mathematical behavior at different commercial starch concentration

Several researches have been developed in order to verify the porosity effect over the ceramic material properties. The starch consolidation casting (SCC) allows to obtain porous ceramics by using starch as a binder and pore forming element. This work is intended to describe the porous mathematical behavior and the mechanical resistance at different commercial starch concentration. Ceramic samples were made with alumina and potato and corn starches. The slips were prepared with 10 to 50 wt% of starch. The specimens were characterized by apparent density measurements and three-point flexural test associated to Weibull statistics. Results indicated that the porosity showed a first-order exponential equation e(-x/c) increasing in both kinds of starches, so it was confirmed that the alumina ceramic porosity is related to the kind of starch used. The mechanical resistance is represented by a logarithmic expression R = A + B/1+10((Log(x0)-P)C).

Dielectric behavior of PVDF/POMA blends that have a low doped POMA content

The real (epsilon') and imaginary (epsilon) components of the complex permittivity of blends of PVDF [poly(vinylidene fluoride)] with POMA [poly(o-methoxyaniline)] doped with toluenosulfonic acid (TSA) containing 1, 2.5, and 5 wt % POMA-TSA were determined in the frequency interval between 10(2) and 3 X 10(6) Hz and in the temperature range from -120 up to 120degreesC. It was observed that the values of epsilon' and epsilon had a greater increase with the POMA-TSA content and with a temperature in the region of frequencies below 10 kHz. This effect decreased with frequency and it was attributed to interfacial polarization. This polarization was caused by the blend heterogeneity, formed by conductive POMA-TSA agglomerates dispersed in an insulating matrix of PVDF. The equation of Maxwell-Garnett, modified by Cohen, was used to evaluate the permittivity and conductivity behavior of POMA-TSA in the blends. A strong decrease was observed in POMA-TSA conductivity in the blend, which was bigger the lower the POMA-TSA content in the blend. This decrease could have been caused either by the POMA dedoping during the blend preparation process or by its dispersion into the insulating matrix. (C) 2002 Wiley Periodicals, Inc.

Use of forest fragments by blue-winged macaws (Primolius maracana) within a fragmented landscape

Parrots are the most threatened group of birds in the world, mainly because of the reduction and fragmentation of their natural habitats. However, few studies have investigated the dynamics of parrot populations in disturbed landscapes on a broad scale. In this paper, we studied the ecological interactions of the vulnerable blue-winged macaw (Primolius maracana) in a fragmented landscape surrounding a large protected park in southeastern Brazil. We sampled 36 forest fragments that varied in size, characteristics, degree of isolation and type of surrounding matrix in order to assess the importance of habitat features on the maintenance of these birds. Blue-winged macaws were recorded in 70% of the satellite remnants that were sampled, which included large and small blocks of forest. These areas were used as sites for feeding, nesting or overnight rests, and also provided connectivity for birds' displacements. However, the frequency of macaw visits varied among the remnants, and this was related to habitat features such as patch size, human use of surrounding land, and the proximity to the protected park, to urban areas and to the birds' roosting areas. In general, landscape-scale parameters explained more of the variation in the frequency of visits by macaws than did patch-scale parameters. These results demonstrate the importance of landscape mosaics for the survival of blue-winged macaws.

Zeros of Jacobi functions of second kind

The number of zeros in (- 1, 1) of the Jacobi function of second kind Q(n)((alpha, beta)) (x), alpha, beta > - 1, i.e. The second solution of the differential equation(1 - x(2))y (x) + (beta - alpha - (alpha + beta + 2)x)y' (x) + n(n + alpha + beta + 1)y(x) = 0,is determined for every n is an element of N and for all values of the parameters alpha > - 1 and beta > - 1. It turns out that this number depends essentially on alpha and beta as well as on the specific normalization of the function Q(n)((alpha, beta)) (x). Interlacing properties of the zeros are also obtained. As a consequence of the main result, we determine the number of zeros of Laguerre's and Hermite's functions of second kind. (c) 2005 Elsevier B.V. All rights reserved.

Conformal Klein-Gordon equations and quasinormal modes

Using conformal coordinates associated with conformal relativity-associated with de Sitter spacetime homeomorphic projection into Minkowski spacetime-we obtain a conformal Klein-Gordon partial differential equation, which is intimately related to the production of quasi-normal modes (QNMs) oscillations, in the context of electromagnetic and/or gravitational perturbations around, e.g., black holes. While QNMs arise as the solution of a wave-like equation with a Poschl-Teller potential, here we deduce and analytically solve a conformal 'radial' d'Alembert-like equation, from which we derive QNMs formal solutions, in a proposed alternative to more completely describe QNMs. As a by-product we show that this 'radial' equation can be identified with a Schrodinger-like equation in which the potential is exactly the second Poschl-Teller potential, and it can shed some new light on the investigations concerning QNMs.

Renormalization group invariance of quantum mechanics

We propose a framework to renormalize the nonrelativistic quantum mechanics with arbitrary singular interactions. The scattering equation is written to have one or more subtraction in the kernel at a given energy scale. The scattering amplitude is the solution of a nth order derivative equation in respect to the renormalization scale, which is the nonrelativistic counterpart of the Callan-Symanzik formalism, Scaled running potentials for the subtracted equations keep the physics invariant fur a sliding subtraction point. An example of a singular potential, that requires more than one subtraction to renormalize the theory is shown. (C) 2000 Published by Elsevier B.V. B.V. All rights reserved.

Kinematical and nonlocality effects on the nonmesonic weak hypernuclear decay

We make a careful study about the nonrelativistic reduction of one-meson-exchange models for the nonmesonic weak hypernuclear decay. Starting from a widely accepted effective coupling Hamiltonian involving the exchange of the complete pseudoscalar and vector meson octets (pi, eta, K, rho, omega, K*), the strangeness-changing weak LambdaN --> NN transition potential is derived, including two effects that have been systematically omitted in the literature, or, at best, only partly considered. These are the kinematical effects due to the difference between the lambda and nucleon masses, and the first-order nonlocality corrections, i.e., those involving up to first-order differential operators. Our analysis clearly shows that the main kinematical effect on the local contributions is the reduction of the effective pion mass. The kinematical effect on the nonlocal contributions is more complicated, since it activates several new terms that would otherwise remain dormant. Numerical results for C-12(Lambda) and He-5(Lambda) are presented and they show that the combined kinematical plus nonlocal corrections have an appreciable influence on the partial decay rates. However, this is somewhat diminished in the main decay observables: the total nonmesonic rate, Gamma(nm), the neutron-to-proton branching ratio, Gamma(n)/Gamma(p), and the asymmetry parameter, a(Lambda). The latter two still cannot be reconciled with the available experimental data. The existing theoretical predictions for the sign of a(Lambda) in He-5(Lambda) are confirmed. (C) 2003 Elsevier B.V. All rights reserved.

Correlation times in stochastic equations with delayed feedback and multiplicative noise

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)