Monetary policy, default risk and the exchange rate

In a country with high probability of default, higher interest rates may render the currency less attractive if sovereign default is costly. This paper develops that intuition in a simple model and estimates the effect of changes in interest rates on the exchange rate in Brazil using data from the dates surrounding the monetary policy committee meetings and the methodology of identification through heteroskedasticity. Indeed, we find that unexpected increases in interest rates tend to lead the Brazilian currency to depreciate. It follows that granting more independence to a central bank that focus solely on inflation is not always a free-lunch.

Trade rules and exchange rate misalignments : in search for a WTO solution e medidas compensatórias

The debate on the link between trade rules and rules on exchange rates is raising the attention of experts on international trade law and economics. The main purpose of this paper is to analyze the impacts of exchange rate misalignments on tariffs as applied by the WTO – World Trade Organization. It is divided into five sections: the first one explains the methodology used to determine exchange rate misalignments and also presents its results for Brazil, US and China; the second summarizes the methodology applied to calculate the impacts of exchange rate misalignments on the level of tariff protection through an exercise of “misalignment tariffication”; the third examines the effects of exchange rate variations on tariffs and their consequences for the multilateral trading system; the fourth one creates a methodology to estimate exchange rates against a currency of the World and a proposal to deal with persistent and significant misalignments related to trade rules. The conclusions are present in the last section

An improved and fast UHPLC-PDA methodology for determination of L-ascorbic and dehydroascorbic acids in fruits and vegetables: evaluation of degradation rate during storage

This study provides a versatile validated method to determine the total vitamin C content, as the sum of the contents of L-ascorbic acid (L-AA) and dehydroascorbic acid (DHAA), in several fruits and vegetables and its degradability with storage time. Seven horticultural crops from two different origins were analyzed using an ultrahigh-performance liquid chromatographic–photodiode array (UHPLC-PDA) system, equipped with a new trifunctional high strength silica (100% silica particle) analytical column (100 mm×2.1 mm, 1.7 μm particle size) using 0.1% (v/v) formic acid as mobile phase, in isocratic mode. This new stationary phase, specially designed for polar compounds, overcomes the problems normally encountered in HPLC and is suitable for the analysis of large batches of samples without L-AA degradation. In addition, it proves to be an excellent alternative to conventional C18 columns for the determination of L-AA in fruits and vegetables. The method was fully validated in terms of linearity, detection (LOD) and quantification (LOQ) limits, accuracy, and inter/intraday precision. Validation experiments revealed very good recovery rate of 96.6±4.4% for L-AA and 103.1±4.8 % for total vitamin C, good linearity with r2-values >0.999 within the established concentration range, excellent repeatability (0.5%), and reproducibility (1.6%) values. The LOD of the method was 22 ng/mL whereas the LOQ was 67 ng/mL. It was possible to demonstrate that L-AA and DHAA concentrations in the different horticulture products varied oppositely with time of storage not always affecting the total amount of vitamin C during shelf-life. Locally produced fruits have higher concentrations of vitamin C, compared with imported ones, but vegetables showed the opposite trend. Moreover, this UHPLC-PDA methodology proves to be an improved, simple, and fast approach for determining the total content of vitamin C in various food commodities, with high sensitivity, selectivity, and resolving power within 3 min of run analysis.

Influence of stocking densities in the nursery phase on the growth of Macrobrachium amazonicum reared in net pens

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

Photosynthesis in eucalyptus studied by the open photoacoustic technique: Effects of irradiance and temperature

This work demonstrates the usefulness of the Open Photoacoustic Cell Technique to study the effects of irradiance and temperature on photosynthesis. bl vivo and ill situ photosynthetic induction measurements were performed in three different species of eucalyptus plants (E. grandis, E. urophylla, and E, urograndis) previously dark-adapted at different temperatures. Photosynthetic activity curves were built as a function of light intensity, indicating the occurrence of photosynthesis saturation. E. urograndis presented higher photosynthetic activity than the other species, especially at low temperature, indicating its tolerance to stress conditions. The incidence of background saturation light of various intensities allowed the irt situ study of photoinhibition in eucalyptus plants through open photoacoustics. (C) 2001 MAIK Nauka/Interperiodica.

Photosynthesis induction in Eucalyptus urograndis seedlings and cuttings measured by Open Photoacoustics

In this work we study the photosynthetic induction in Eucalyptus urograndis leaves using the Open Photoacoustic Cell Technique. In vivo and in situ measurements were performed in leaves of four months-old E. urograndis seedlings and C041 cuttings previously dark-adapted for at least 10 h. Experimental results for the gas exchange component of the photoacoustic (PA) signal are interpreted considering that a gas uptake component would have a phase angle nearly opposite to that of the oxygen evolution component. Analysis of the photosynthetic induction data shows that seedlings present a net oxygen evolution before cuttings, but cuttings reach a higher steady-state photosynthetic activity.

Genetic associations between weight at maturity and maturation rate with ages and weights at first and second calving in Canchim beef cattle

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

The effects of anesthesia with a combination of intramuscular xylazine-diazepam-ketamine on heart rate, respiratory rate and cloacal temperature in roosters

Objective To examine the anesthetic effects of a xylazine-diazepam-ketamine (XDK) combination in roosters.Study design Prospective experimental trial.Animals Six healthy white Leghorn roosters weighing 2.03 +/- 0.08 kg.Methods Each rooster was pre-medicated with xylazine (3 mg kg(-1), IM) and after 15 minutes anesthesia was induced with a diazepam (4 mg kg(-1)) and ketamine (25 mg kg(-1)) combination injected into the pectoral muscles. Heart and respiratory rates were recorded before anesthesia and every 15 minutes after induction for 165 minutes. Cloacal temperature was measured before and 15 minutes after pre-medication and every 75 minutes thereafter during anesthesia. Quality of induction and recovery were scored subjectively; duration of loss of righting reflex, abolition of response to a painful stimulus and palpebral reflex were also recorded.Results Intramuscular injection of xylazine smoothly induced loss of the righting reflex within 3-4 minutes. Loss of response to a painful stimulus occurred at 13.1 +/- 2.9 minutes (mean +/- SD) after the administration of the D-K combination, and lasted for 63.0 +/- 5.3 minutes. Roosters anesthetized with this combination had a significant decrease in heart and respiratory rates and cloacal temperature. The recovery period lasted for up to 4 hours (227.5 +/- 15.4 minutes). Quality of recovery was satisfactory for four roosters but excitation was noted in two birds.Conclusions and clinical relevance The XDK combination was a useful anesthetic technique for typhlectomy in roosters. Nevertheless this drug combination should be used with caution and cardiopulmonary parameters monitored carefully. Under the conditions of this experiment it was associated with a decreased cloacal temperature and prolonged recoveries.

Effect of sequence of insemination after simultaneous thawing of multiple semen straws on conception rate to timed AI in suckled multiparous Nelore cows

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Effect of temperature on incubation period, embryonic mortality, hatch rate, egg water loss and partridge chick weight (Rhynchotus rufescens)

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Effect of breed and corpus luteum on pregnancy rate of bovine embryo recipients

The objective of this study was to evaluate pregnancy rates of recipients of different breed groups (Nellore and crossbreed), as well as the effects of size and type of the corpus luteum (CL) on plasmatic concentrations of progesterone and pregnancy rates of embryo recipients. A total of 152 heifers were synchronized with progesterone implants and on the day of embryo transfer, previously obtained by superovulation and frozen in ethylene glycol, the diameter and type of the corpus luteum (cavitary and compact) was measured and blood was collected for progesterone measurement. The pregnancy rate was 44.1%, with a diameter of corpus luteum higher in recipients that became pregnant (2.03±0.41) compared with non-pregnant ones (1.86±0.34 cm). Plasmatic concentrations of progesterone did not differ between pregnant (1.50±1.05) and non-pregnant (1.31±0.91 ng/mL) animals. The type of corpus luteum did not influence the pregnancy rates. Only Angus and crossbred Marchigiana differ among themselves in pregnancy rates (33.3 and 59.2%, respectively). The pregnancy probability was affected only by CL diameter, but not by P4 plasmatic concentration. Selection of the corpus luteum size at the time of embryo transfer is an important factor to increase pregnancy rates in recipients, and compact and cavitary corpora lutea do not influence the pregnancy rates of bovine embryo recipients. Nellore recipients have pregnancy rates that are satisfactory and comparable to crossbred (Bos taurus × Bos indicus) recipients.

The autonomic control and functional significance of the changes in heart rate associated with air breathing in the jeju, Hoplerythrinus unitaeniatus

The jeju is a teleost fish with bimodal respiration that utilizes a modified swim bladder as an air-breathing organ (ABO). Like all air-breathing fish studied to date, jeju exhibit pronounced changes in heart rate (f(H)) during air-breathing events, and it is believed that these may facilitate oxygen uptake (M-O2) from the ABO. The current study employed power spectral analysis (PSA) of f(H) patterns, coupled with instantaneous respirometry, to investigate the autonomic control of these phenomena and their functional significance for the efficacy of air breathing. The jeju obtained less than 5% of total M-O2 (M-tO2) from air breathing in normoxia at 26 degrees C, and PSA of beat-to-beat variability in fH revealed a pattern similar to that of unimodal water-breathing fish. In deep aquatic hypoxia (water P-O2=1 kPa) the jeju increased the frequency of air breathing (f(AB)) tenfold and maintained M-tO2 unchanged from normoxia. This was associated with a significant increase in heart rate variability (HRV), each air breath (AB) being preceded by a brief bradycardia and then followed by a brief tachycardia. These f(H) changes are qualitatively similar to those associated with breathing in unimodal air-breathing vertebrates. Within 20 heartbeats after the AB, however, a beat-to-beat variability in f(H) typical of water-breathing fish was re-established. Pharmacological blockade revealed that both adrenergic and cholinergic tone increased simultaneously prior to each AB, and then decreased after it. However, modulation of inhibitory cholinergic tone was responsible for the major proportion of HRV, including the precise beat-to-beat modulation of f(H) around each AB. Pharmacological blockade of all variations in f(H) associated with air breathing in deep hypoxia did not, however, have a significant effect upon f(AB) or the regulation of M-tO2. Thus, the functional significance of the profound HRV during air breathing remains a mystery.

Canopy characteristics and behavior of Nellore heifers in Brachiaria brizantha pastures under different grazing heights at a continuous stocking rate

The objective of this study was to evaluate the Brachiaria brizantha cv. Marandu canopy structure maintained at different grazing heights under a continuous stocking rate and with a dietary supplementation strategy for the animals during the rainy season. This study also intended to observe the relationships of these variables with the grazing behaviors of the heifers. The effects of three canopy heights (15, 25 and 35 cm) were evaluated in association with three types of supplements: one mineral and two protein/energy supplements, the first with a high rumen degradable protein and energy and the others with a low ratio. Both the protein/energy supplements were provided at 0.3% of body weight/day. The experimental design was completely randomized, with two replications and repeated measures, and took place during the period from January to April 2008. The supplementation strategies did not affect any variable related to the canopy structure. Total and green herbage masses and the ratio of green/dead material increased with canopy height. The leaf/stem ratio was higher in the lowest canopy height: 15 cm. Changes in the canopy structure caused variations in the grazing behavior of the animals. Animals maintained in the 15-cm-tall pasture grazed for a longer time, increasing the time for each meal, but the number of meals was lower than that of the animals grazing within the 35-cm-tall pasture. The grazing time of animals receiving the energy/protein supplement was lower only in the period of the day during which it was supplied. Canopy structure is affected by sward height, and changes animal behavior. Supplementation does not affect the canopy structure of the pastures with similar heights.

Eficiência fotossintética de cultivares de cana-de-açúcar e de diferentes espécies de plantas daninhas após a aplicação do diuron

O objetivo deste trabalho foi avaliar a eficiência fotossintética, através da taxa de transporte de elétrons, de seis espécies de plantas daninhas e três cultivares de cana-de-açúcar após aplicação do herbicida diuron em pós-emergência inicial. Os cultivares utilizados (PO8862, SP80-3280 e RB83-5486) foram cortados em gemas e plantados em vasos com capacidade de 12 litros. A semeadura das seis espécies de plantas daninhas - Brachiaria decumbens, Digitaria horizontalis, Panicum maximum, Ipomoea grandifolia, Ipomoea hederifolia e Merremia cissoides - foi realizada para obter 25 plantas por vaso. A aplicação do herbicida diuron em pós-emergência inicial das plantas daninhas e dos cultivares de cana-de-açúcar foi realizada na dose de 3,0 kg ha-1, com adição de 0,2% de surfatante. As avaliações da taxa de transporte de elétrons no fotossistema (ETR) das plantas após a aplicação foram realizadas com auxílio de um fluorômetro portátil. Para as espécies de plantas daninhas, a ETR foi avaliada após intervalos de 2, 4, 24, 48, 72, 96 e 144 horas após a aplicação. Quanto aos cultivares de cana-de-açúcar, os intervalos avaliados foram de 2, 24, 48, 72, 120, 168 e 240 horas após a aplicação. de maneira geral, as reduções dos valores da ETR indicaram o nível de sensibilidade dos diferentes cultivares de cana-de-açúcar e das diferentes plantas daninhas ao diuron, e a intoxicação foi detectada antes ou mesmo sem a presença dos sintomas. A classificação da sensibilidade dos cultivares de cana-de-açúcar foi em ordem decrescente: PO-8862, SP80-3280 e RB83-5486; para as plantas daninhas, as espécies mais sensíveis foram M. cissoides, I. grandifolia e I. hederifolia, seguidas das gramíneas D. horizontalis, P. maximum e B. decumbens.