How the full opening of the capital account to highly liquid financial markets led Latin America to two and a half cycles of ‘mania, panic and crash’

Latin America has recently experienced three cycles of capital inflows, the first two ending in major financial crises. The first took place between 1973 and the 1982 ‘debt-crisis’. The second took place between the 1989 ‘Brady bonds’ agreement (and the beginning of the economic reforms and financial liberalisation that followed) and the Argentinian 2001/2002 crisis, and ended up with four major crises (as well as the 1997 one in East Asia) — Mexico (1994), Brazil (1999), and two in Argentina (1995 and 2001/2). Finally, the third inflow-cycle began in 2003 as soon as international financial markets felt reassured by the surprisingly neo-liberal orientation of President Lula’s government; this cycle intensified in 2004 with the beginning of a (purely speculative) commodity price-boom, and actually strengthened after a brief interlude following the 2008 global financial crash — and at the time of writing (mid-2011) this cycle is still unfolding, although already showing considerable signs of distress. The main aim of this paper is to analyse the financial crises resulting from this second cycle (both in LA and in East Asia) from the perspective of Keynesian/ Minskyian/ Kindlebergian financial economics. I will attempt to show that no matter how diversely these newly financially liberalised Developing Countries tried to deal with the absorption problem created by the subsequent surges of inflow (and they did follow different routes), they invariably ended up in a major crisis. As a result (and despite the insistence of mainstream analysis), these financial crises took place mostly due to factors that were intrinsic (or inherent) to the workings of over-liquid and under-regulated financial markets — and as such, they were both fully deserved and fairly predictable. Furthermore, these crises point not just to major market failures, but to a systemic market failure: evidence suggests that these crises were the spontaneous outcome of actions by utility-maximising agents, freely operating in friendly (light-touched) regulated, over-liquid financial markets. That is, these crises are clear examples that financial markets can be driven by buyers who take little notice of underlying values — investors have incentives to interpret information in a biased fashion in a systematic way. ‘Fat tails’ also occurred because under these circumstances there is a high likelihood of self-made disastrous events. In other words, markets are not always right — indeed, in the case of financial markets they can be seriously wrong as a whole. Also, as the recent collapse of ‘MF Global’ indicates, the capacity of ‘utility-maximising’ agents operating in unregulated and over-liquid financial market to learn from previous mistakes seems rather limited.

Neuroscience and education: prime time to build the bridge

As neuroscience gains social traction and entices media attention, the notion that education has much to benefit from brain research becomes increasingly popular. However, it has been argued that the fundamental bridge toward education is cognitive psychology, not neuroscience. We discuss four specific cases in which neuroscience synergizes with other disciplines to serve education, ranging from very general physiological aspects of human learning such as nutrition, exercise and sleep, to brain architectures that shape the way we acquire language and reading, and neuroscience tools that increasingly allow the early detection of cognitive deficits, especially in preverbal infants. Neuroscience methods, tools and theoretical frameworks have broadened our understanding of the mind in a way that is highly relevant to educational practice. Although the bridge’s cement is still fresh, we argue why it is prime time to march over it.

Estratégia de conversor para interligação de sistemas de geração eólica à rede elétrica

Currently, there are several power converter topologies applied to wind power generation. The converters allow the use of wind turbines operating at variable speed, enabling better use of wind forces. The high performance of the converters is being increasingly demanded, mainly because of the increase in the power generation capacity by wind turbines, which gave rise to various converter topologies, such as parallel or multilevel converters. The use of converters allow effective control of the power injected into the grid, either partially, for the case using partial converter, or total control for the case of using full converter. The back-to-back converter is one of the most used topologies in the market today, due to its simple structure, with few components, contributing to robust and reliable performance. In this work, is presented the implementation of a wind cogeneration system using a permanent magnet synchronous generator (PMSG) associated with a back-to-back power converter is proposed, in order to inject active power in an electric power system. The control strategy of the active power delivered to the grid by cogeneration is based on the philosophy of indirect control

DC and AC side harmonics in CCC converters

The capacitor-commutated converter (CCC) has frequently been used in the conception of HVDC systems connected to busbars with low short circuit level. This alternative arrangement, in substitution to the conventional ones, guarantees less sensitive operational conditions to problems related with the commutation failure in the inverters besides supplying part of the reactive energy to be compensated. Studies related with its performance in steady and transient states have been presented in several works, however its behavior as harmonic source is still little explored. This work presents preliminary studies focusing the generation of characteristic harmonics by this type of converter. Subjects related with the amplification of the harmonic magnitudes are investigated and compared considering similar arrangements of conventional static converters (LCC) and CCC schemes. It is also analyzed the harmonic generation on the dc side of the installation and its influence on the ac side harmonics. The results are obtained from simulations in the time domain in PSpice environment and they clearly illustrate the operational differences between the L CC and the CCC schemes with regard to characteristic harmonic generation.

Generating VHDL-AMS models of digital-to-analogue converters from MATLAB (R)/SIMULINK (R)

Today, the trend within the electronics industry is for the use of rapid and advanced simulation methodologies in association with synthesis toolsets. This paper presents an approach developed to support mixed-signal circuit design and analysis. The methodology proposed shows a novel approach to the problem of developing behvioural model descriptions of mixed-signal circuit topologies, by construction of a set of subsystems, that supports the automated mapping of MATLAB (R)/SINIULINK (R) models to structural VHDL-AMS descriptions. The tool developed, named (MSSV)-S-2, reads a SIMULINK (R) model file and translates it to a structural VHDL-AMS code. It also creates the file structure required to simulate the translated model in the SystemVision (TM). To validate the methodology and the developed program, the DAC08, AD7524 and AD5450 data converters were studied and initially modelled in MATLAB (R)/SIMULINK (R). The VHDL-AMS code generated automatically by (MSSV)-S-2, (MATLAB (R)/SIMULINK (R) to SystemVision (TM)), was then simulated in the SystemVision (TM). The simulation results show that the proposed approach, which is based on VHDL-AMS descriptions of the original model library elements, allows for the behavioural level simulation of complex mixed-signal circuits.

Novel zero-current-switching PWM converters

This paper presents a new family of pulsewidth-modulated (PWM) converters, featuring soft commutation of the semiconductors at zero current (ZC) in the transistors and zero voltage (ZV) in the rectifiers, Besides operating at constant frequency and with reduced commutation losses, these new converters have output characteristics similar to the hard-switching-PWM counterpart, which means that there is no circulating reactive energy that would cause large conduction losses, the new family of zero-current-switching (ZCS)-PWM converters is suitable for high-power applications using insulated gate bipolar transistors (IGBT's). The advantages of the new ZCS-PWM boast converter employing IGBT's, rated at 1.6 kW and operating at 20 kHz, are presented, This new ZCS operation can reduce the average total power dissipation in the semiconductors practically by half, when compared with the hard-switching method, This new ZCS-PWM boost converter is suitable for high-power applications using Ie;BT's in power-factor correction, the principle of operation, theoretical analysis, and experimental results of the new ZCS-PWM boost converter are provided in this paper to verify the performance of this new family of converters.

Generalization of the Y-differential autotransformer for 12- and 18-pulse converters

This work proposes a methodology to generalize the Y-connections for 12- and 18-pulse autotransformers. A single mathematical expression, obtained through simple trigonometric operations, represents all the connections. The proposed methodology allows choosing any ratio between the input and the output voltages. The converters can operate either as step-up or as step-down voltage. To simplify the design of the windings, graphics are generated to calculate the turn-ratio and the polarity of each secondary winding, with respect to the primary winding. A design example, followed by digital simulations, illustrates the presented steps. Experimental results of two prototypes (12 and 18 pulses) are presented. The results also show that high power factor is an inherent characteristic of multi-pulse converters, without any active or passive power factor pre-regulators needs. (c) 2005 Elsevier B.V. All rights reserved.

Simulation Tools of DC-DC Converters for Power Electronics Education

This paper presents interactive simulation tools to support the enhancement of power electronics education considering DC to DC converters. These interactive tools make use of the benefits of Java language to provide a dynamic and interactive visualization of simulations in steady-state for idealized non-isolated DC to DC converters. Additionally, this paper discusses the features and the usage of the interactive educational tools to serve as a first design tool for the laboratory experiments in the power electronics courses. In this way, some results were confronted with a well-known simulator package and with experimental results in order to validate the developed interactive simulation tools.

Vibration energy harvesting using piezoelectric transducer and non-controlled rectifiers circuits

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Avaliação clínica da resposta do tratamento periodontal não-cirúrgico (Full mouth desinfection) de pacientes diabéticos e não diabéticos

Tem sido demonstrado que o diabetes influencia no desenvolvimento e progressão da doença periodontal. Acredita-se ainda que há uma relação bi-direcional entre o Diabetes Mellito e a Doença Periodontal. Por isso, o tratamento periodontal pode responder de forma diferente em pacientes com e sem o quadro de diabetes. O objetivo desse estudo foi avaliar clinicamente o efeito da terapia periodontal não cirúrgica em pacientes com periodontite e diabetes mellito (grupo teste) e sem o quadro de diabetes (grupo controle). Para isso, realizou-se o tratamento periodontal não-cirúrgico FMSRP (Full mouth Scalling and Root Planing) e verificou-se os parâmetro clínicos periodontais (profundidade de sondagem, nível clínico de inserção, mobilidade, índice gengival e índice de placa) no início do estudo e após 3 meses. Na análise estatística, o paciente foi considerado como unidade de análise (p<0,05). Para as variáveis categóricas utilizou-se o teste de Fisher. Nas comparações inter-grupo, foi utilizado o Mann-Whitney Test e para comparações intra-grupo (baseline e três meses) utilizou-se o Teste de Wilcoxon. Participaram 26 pacientes no grupo controle e 14 no grupo teste. O índice de placa era 71,20% no início do estudo para o grupo teste e ficou 47,12% no fim; já no controle, os valores eram de 48,52% passando para 37,50%. E o índice gengival no grupo teste no baseline era 42,67 diminuindo para 26,81 e no grupo controle diminuiu de 41,36 para 30,62. A profundidade de sondagem foi no grupo teste 2,71mm passando para 2,40mm; já no controle, os valores foram de 2,84mm diminuindo para 2,55mm. O grupo controle ganhou 0,34 mm de inserção e o grupo teste perdeu 0,44mm de inserção. A recessão gengival aumentou 0,33mm no grupo teste e 0,04mm no grupo controle após os 3 meses. Houve diferença significativa inter-grupo para o índice de placa e gengival no baseline, também foi encontrado na recessão após 3 meses; já intra-grupo verificou-se diferença significativa para todas as variáveis, exceto para o nível clinico de inserção e mobilidade. Quando se categorizou a profundidade de sondagem em ≤3mm, >3 e≤6mm e >6mm, não foi encontrado diferença entre os grupos, mas verificou-se diferença significativa entre os períodos tanto para o grupo teste como para o controle. A hemoglobina glicada no grupo controle foi de 5,90% e no teste aumentou de 7,79% para 8,10%. Portanto, verifica-se que há uma melhora dos parâmetros clínicos periodontais em ambos os grupos, contudo não se verificou uma diferença significativa entre eles. Não obstante, o FMSRP promove um efeito benéfico em relação à condição de saúde periodontal, melhora dos parâmetros clínicos periodontais, em curto prazo (3 meses) tanto em indivíduos diabéticos como em não diabéticos, não sendo possível observar um melhor quadro glicêmico nos diabéticos

BRIDGE: uma ferramenta para o Design de Interfaces de Usuário baseada em especificações IMML

With hardware and software technologies advance, it s also happenning modifications in the development models of computational systems. New methodologies for user interface specification are being created with user interface description languages (UIDL). The UIDLs are a way to have a precise description in a language with more abstraction and independent of how will be implemented. A great problem is that even using these nowadays methodologies, we still have a big distance between the UIDLs and its design, what means, the distance between abstract and concrete. The tool BRIDGE (Interface Design Generator Environment) was created with the intention of being a linking bridge between a specification language (the Interactive Message Modeling Language IMML) and its implementation in Java, linking the abstract (specification) to the concrete (implementation). IMML is a language based on models, that allows the designer works in distinct abstraction levels, being each model a distinct abstraction level. IMML is a XML language, that uses the Semiotic Engineering concepts, that deals the computational system, with the user interface and its elements like a metacommunicative artifact, where these elements must to transmit a message to the user about what task must to be realized and the way to reach this goal. With BRIDGE, we intend to supply a lot of support to the design task, being the user interface prototipation the greater of them. BRIDGE allows the design becomes easier and more intuitive coming from an interface specification language

Contribuições para a detecção e identificação de faltas em inversores Multiníveis

This work presents contributions in the detection and identication of faults in multilevel inverters through the study of the converters behavior under these operation conditions. Basically, the approached fault consists of an open-circuit in any switch of a three-level clamped diode inverter. The converter operation is characterized in the pre and post-fault states. A wave form behavior analysis of the pole voltage, phase current and dc-bus current is also done, which highlights characteristics that allow the detection of failure and, even, under favorable conditions, the identication of the faulty device. A compensation strategy of the approached fault (open-switch) is also investigated with the purpose of maintaining the driving system operational when a failure occurs. The proposed topology uses SCRs in parallel with the internal switches of the inverter, which allows, in some occasions, the full utilization of the dc-bus

Mucosal Bridge of the Vocal Fold: Difficulties in the Diagnosis and Treatment

Mucosal bridges are rare laryngeal lesions probably of genetic origin. They may cause dysphonia of varying degrees, especially when associated with other laryngeal lesions such as vocal sulci and cysts. Reports on mucosal bridges are rare, and the better treatment is inconclusive.Aim. To report the authors' experience in 14 cases of mucosal bridge showing details on endoscopic examinations and treatment.Study Design. Retrospective study.Methods. We reviewed the medical records of 14 patients with a diagnosis of mucosal bridge confirmed by video-laryngostroboscopy and direct laryngoscopy who attended the Outpatient Clinic of Voice Disorders of the Discipline of Otorhinolaryngology, Botucatu Medical School, São Paulo State University, São Paulo. Data collected included information on gender, age, symptoms, time of onset, history of intubation, smoking status, alcohol intake, associated laryngeal lesions, treatment, and GRBAS (grade of hoarseness, roughness, breathiness, asthenia, and stress) scale ratings.Results. of 14 patients, 10 were females and four were males. There was a prevalence of adults (n = 12), with only two of the patients being younger than 13 years (10 and 13 years). Mucosal bridges showed no correlations with smoking, alcohol intake, or gastroesophageal and sinonasal symptoms. Voice abuse was reported in 50% of the cases that consisted of patients who had high-voice demand occupations. In seven cases, mucosal bridges were associated with other laryngeal lesions, particularly vocal cysts and sulci. All patients who underwent surgery and phonotherapy showed improved vocal quality.Conclusions. We documented 14 patients with dysphonia caused by mucosal bridge. Promising results were obtained with surgery.

Blood galactose and glucose levels in mothers, cord blood, and 48-hour-old breast-fed full-term infants

Background: Although galactose is an important component in human lactose, there are few reports of its role in the newborn metabolism. Objective: To determine the relationship of blood galactose and glucose levels in mothers, cord blood, and breast-fed full-term newborn infants. Methods: Maternal and cord vein blood samples were obtained from 27 pregnant women at delivery, and from their breastfed, full-term newborns 48 h later. Galactose and glucose were determined by HPLC. Statistical analysis used ANOVA and Pearson correlation with p < 0.05. Results: Maternal galactose concentrations (0.08 +/- 0.03 mmol/l) were similar to cord blood galactose (0.07 +/- 0.03 mmol/l; p = 0.129). However, newborn blood galactose (0.05 +/- 0.02 mmol/l) was significantly lower than both cord (p = 0.042) and maternal blood (p = 0.002). Maternal blood glucose levels (4.72 +/- 0.86 mmol/l) were higher than cord blood (3.98 +/- 0.57 mmol/l; p < 0.001), and cord blood concentrations were higher than newborn blood levels (3.00 +/- 0.56 mmol/l; p < 0.001); all values expressed as mean +/- SD. Significant correlation was only seen between maternal and cord blood galactose levels (r = 0.67; p < 0.001) and glucose levels (r = 0.38; p = 0.047). Conclusion: the association and similarity between maternal and cord blood galactose levels suggest that the fetus is dependent on maternal galactose. In contrast, the lower galactose levels in newborn infants and a lack of association between both suggest self-regulation and a dependence on galactose ingestion. Copyright (c) 2007 S. Karger AG, Basel.