Relação de longo prazo entre o investimento direto externo e variáveis macroeconômicas entre janeiro de 1999 à dezembro de 2007

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Comparação da viabilidade técnica-econômica em condicionamento de ar: compressor a pistão versus compressor rotativo de velocidade variável

Pós-graduação em Engenharia Mecânica - FEG

Macroprudential policy: an institutionalist interpretation

One of the consequences of the recent international economic crisis has been the demand for new economic policy tools, to add to the well-established monetary, exchange-rate, and fiscal policy mechanisms. In particular, more effective ways are needed to regulate the financial system and prevent the emergence of imbalances that affect the real economy. In that context, macroprudential policy has been singled out as another economic-type public policy which could help maintain financial stability. Nonetheless, the discussions and development of the literature on this topic are founded on pragmatic considerations that are not directly related to the orthodox or heterodox schools of economic thought. So the aim of this article is to provide an institutionalist reading of macroprudential policy, to understand it in terms of the theoretical content of institutional approaches.

Going through the labyrinth: the political economy of Argentina’s abandonment of the gold standard (1929-1933)

This article is the short but crucial history of four years of transition in a monetary and exchange-rate regime that culminated in 1933 with the final abandonment of the gold standard in Argentina. That process involved decisions made at critical junctures at which the government authorities had little time to deliberate and against which they had no analytical arsenal, no technical certainties and few political convictions. The objective of this study is to analyse those “decisions” at seven milestone moments, from the external shock of 1929 to the submission to Congress of a bill for the creation of the central bank and a currency control regime characterized by multiple exchange rates. The new regime that this reordering of the Argentine economy implied would remain in place, in one form or another, for at least a quarter of a century.

Estimativa de emissão de carbono por difusão CO2 e CH4 na bacia do Ji-Paraná

Pós-graduação em Geociências e Meio Ambiente - IGCE

Estudo experimental de um reator de gaseificação em um leito fixo de açaí

Um leito de gaseificação de pequena escala foi projetado, construído e operado com o objetivo de investigar os parâmetros que influenciam o processo de gaseificação de um leito fixo de caroço de açaí. O reator é do tipo topo aberto downdraft estratificado, de dimensões de 15 cm de diâmetro interno por 1,5 m de altura, com isolamento térmico. O gás produzido foi coletado a jusante do leito de gaseificação e condensado para remoção de alcatrão, o qual foi posteriormente quantificado em titulador Karl Fisher. Após remoção do alcatrão o gás foi introduzido em um Micro GC para quantificação dos percentuais molares de H², CO, N² e CH⁴. O perfil de temperatura do leito foi medido com termopares tipo K posicionados ao longo do eixo longitudinal do leito em distâncias de 10 cm. A vazão de ar foi medida com auxilio de um tubo de Pitot e um micromanômetro. As aquisições dos dados de temperatura foram feitas por um data logger e vazão mássica do ar sendo feita usando comunicação RS232 do micromanômetro. Os procedimentos experimentais foram feitos ao longo de 4 horas de operação do leito de gaseificação, com consumo médio de biomassa de 1,6 kg/h, com 6 dados do perfil de temperatura, vazão mássica de ar, perda de carga do leito e concentração dos gases obtidos no processo de gaseificação e quantificação do teor de alcatrão condensável presente no gás. Verificou-se que o gaseificador de leito de açaí pode ser operado através de uma gama bastante ampla de taxas de fluxo de ar de 2 a 5 kg/h, com a quantidade de energia do gás produzido variando de 5 a 15 MJ/h. As concentrações típicas dos gases obtidos no leito foram de 13% de H², 11% de CO, 1,3% de CH⁴. A eficiência máxima de gás frio de 57% e teor médio de alcatrão de 155 g/m³.

Aplicação de fluido de corte em quantidades reduzidas para usinagem do aço SAE 52100 no processo de retificação centerless de passagem

Pós-graduação em Ciência e Tecnologia de Materiais - FC

Mercado de ações brasileiro: uma investigação empírica sobre suas relações de longo prazo e de precedência temporal pré-crise de 2008

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

Plano real e a nova realidade brasileira

This paper analyzes the Real Plan and its effects on two administrations of President Fernando Henrique Cardoso (FHC), a period which extends from 1995 to 2002. To this end, the study includes a brief review of the problems faced by previous plans, especially the Cruzado Plan and the reasons for the belief that it has been successfull in relation to inflation control. Additionally, seeking to describe the process of moving to the new currency towards stabilization, the paper describes the theoretical foundations of the Plan. In sequence, it defines the backround of both international and domestic monetary reform which was one important part of the Plan and therefore the reasons for the implementation of the monetary reform. Subsequently the paper deals with the effects of the Plan on the economy as a whole, covering also the way the economic measures were taken concerning the Mexican and Asian crisis, the policies used fot the exchange rate, interest rate, fiscal accounts, balance of payments, among other factors and the relationship between them. Hence, it describes the immediate and the long-term consequences of stabilization program in terms of output, employment, public deficit and debt. Therefore, it is important to note the various junctures to which the economy was exposed, and also to point out the challenges and obstacles arising from these changes for growth, which was sometimes fast, sometimes slowing down - the so-called stop and go. Of course, facts as the moving to floating exchange rate regime, the adoption of inflation targeting regime and the adoption of fiscal responsibility law along with the primary surplus policy were able to create a new economic environment and to contribute to later success of the Cardoso years

O regime de metas inflacionárias e sua adequação à economia brasileira

The Inflation Targeting Regime was adopted in Brazil in 1999 and it aims at maintaining the price level in the interval set by the government. For such reason, the Central Bank makes use of variations in the interest rate, which causes the cost of the credit to be more expensive, reducing the investments, the jobs and, concomitantly, the inflation. Being aware that the country is subject to sudden reversals of the international capital flows which results in exchange rate and price instability, an econometric analysis of the adequation of the targerting regime to the Brazilian economy, especially concerned with the index price that is used as the parameter for the inflation calculus, is proposed

Implicações da União Econômica e Monetária Europeia sobre a política econômica dos PIGS: uma análise sobre a crise das dívidas soberanas

The present work intends to analyze the impacts of the European Economic and Monetary Union in the economic policies of the countries named PIGS, with an analysis about the sovereign debt crisis, in view of the autonomy loss to adopt own monetary and exchange rate policies of countries with different levels of development

A taxa de câmbio do Brasil é válida no longo prazo?

The objective of this study was to test the validity of the real exchange rate in the long run. For that five tests were performed based on equation, which relates to real exchange rate, international trade, domestic income. The main difference is that the tests when we are working with quarterly data, the parameters are significantly different from zero – i.e., the variables real exchange rate, international trade, domestic income and net exports on long term relationship – and, moreover, the signs are as expected. This implies that it is possible to increase exports with currency devaluation. Thus, based on data and tests that work we conclude that the exchange rate is an important instrument of trade policy, given that devaluations are valid even in the long term.

Restrição externa e taxa de câmbio no Brasil: 1980-2008

The objective of this study is to examine if economic growth in Brazil was blocking due to external constraints, that is, in consequence of its Balance of Payments. We work with the approach first proposed by Thirlwall (1979) which was later modified by Lima and Carvalho (2009). We can conclude that economic growth was restricted by the external sector, which is consistent with the economic history of Brazil, and verify that the real exchange rate, and to influence the trade balance in the course run, also excerce some influence on this account balance of payments in the long run.

Analysis of metabolic pools in broilers chicks

This paper shows the possibility of obtaining new parameters for the mathematical modelling of data on stable isotopes in biological systems and its application in obtaining data on metabolic pools of blood plasma, blood serum, liver and muscle of broilers. This theory states that the modelling of turnover used for studies of isotopic incorporation when the metabolism has a single metabolic pool is feasible by the technique of setting an exponential. However, when the metabolism has more than one metabolic pool, it is necessary to apply the linearization technique, linear regression adjustment and evaluation of the assumptions of regression to obtain the kinetic parameters such as half-life (T1/2) and isotope exchange rate (k). The application of this technique on carbon-13 data from 100 one-day-old chicks, with the change of diet composed of grains of the photosynthetic cycle of plants from C4 to C3, in broilers has enabled the discovery that the liver, blood plasma and blood serum have a single metabolic pool; however, the pectoral muscle has two metabolic pools. For the liver, blood plasma and blood serum, the half-life values were found by the exponential fit being T1/2 = 1.4 days with the rate of exchange of k = 0.502, T1/2 = 2.4 days with k = 0.293 and T1/2 = 2.0 days with k = 0.348, respectively. For the pectoral muscle, after linearization, the half-life values were found for T1/2(1) = 1.7 and T1/2(2) = 3 days, with exchange rates of k1 = 0.405 and k2 = 0.235, representing approximately 66 and 34 %, respectively.

Spray Congealing of Pharmaceuticals: Study on Production of Solid Dispersions Using Box-Behnken Design

This work aimed at evaluating the spray congealing method for the production of microparticles of carbamazepine combined with a polyoxylglyceride carrier. In addition, the influence of the spray congealing conditions on the improvement of drug solubility was investigated using a three-factor, three-level Box-Behnken design. The factors studied were the cooling air flow rate, atomizing pressure, and molten dispersion feed rate. Dependent variables were the yield, solubility, encapsulation efficiency, particle size, water activity, and flow properties. Statistical analysis showed that only the yield was affected by the factors studied. The characteristics of the microparticles were evaluated using X-ray powder diffraction, scanning electron microscopy, differential scanning calorimetry, and hot-stage microscopy. The results showed a spherical morphology and changes in the crystalline state of the drug. The microparticles were obtained with good yields and encapsulation efficiencies, which ranged from 50 to 80% and 99.5 to 112%, respectively. The average size of the microparticles ranged from 17.7 to 39.4 mu m, the water activities were always below 0.5, and flowability was good to moderate. Both the solubility and dissolution rate of carbamazepine from the spray congealed microparticles were remarkably improved. The carbamazepine solubility showed a threefold increase and dissolution profile showed a twofold increase after 60 min compared to the raw drug. The Box-Behnken fractional factorial design proved to be a powerful tool to identify the best conditions for the manufacture of solid dispersion microparticles by spray congealing.