Modelagem da perda esperada: uma alternativa para tratar o efeito da correlação entre a PD e LGD

Com a relevância que o mercado de crédito vem ganhando na economia o presente trabalho se propôs a fazer uma revisão conceitual do risco de crédito. Tendo a perda esperada como o principal componente do risco de crédito, o trabalho se aprofundou nesse tema propondo uma maneira nova para o cálculo da mesma. Da maneira que ela é modelada usualmente pressupoem que os parâmetros de PD e LGD são independentes. Alguns autores questionam essa pressuposição e que, se essa dependência não for levada em conta os cálculos de perda esperada e o capital que deveria ser alocado estarão incorretos. Uma alternativa para tratar a correlação é modelar os dois componentes conjuntamente, ao comparar os resultados do modelo usual com o modelo conjunto conclui-se que o erro da estimativa de perda esperada do modelo conjunto foi menor. Não se pode afirmar que o menor erro na estimativa de perda se deve a correlação entre a PD e LGD, porém ao modelar os parâmetros conjuntamente, retira-se essa forte pressuposição.

Essays in heterogeneous agent macroeconomics

This thesis is comprised of three chapters. The first article studies the determinants of the labor force participation of elderly American males and investigates the factors that may account for the changes in retirement between 1950 and 2000. We develop a life-cycle general equilibrium model with endogenous retirement that embeds Social Security legislation and Medicare. Individuals are ex ante heterogeneous with respect to their preferences for leisure and face uncertainty about labor productivity, health status and out-of-pocket medical expenses. The model is calibrated to the U.S. economy in 2000 and is able to reproduce very closely the retirement behavior of the American population. It reproduces the peaks in the distribution of Social Security applications at ages 62 and 65 and the observed facts that low earners and unhealthy individuals retire earlier. It also matches very closely the increase in retirement from 1950 to 2000. Changes in Social Security policy - which became much more generous - and the introduction of Medicare account for most of the expansion of retirement. In contrast, the isolated impact of the increase in longevity was a delaying of retirement. In the second article, I develop an overlapping generations model of criminal behavior, which extends prior research on crime by taking into account individuals' labor supply decisions and the stigma effect that affects convicted offenders, lowering their likelihood of employment. I use the model to guide a quantitative assessment of the determinants of crime and of a counterfactual experiment in which an income redistribution policy is thought as an alternative to greater law enforcement. The model economy considered in this paper is populated by heterogeneous agents who live for a realistic number of periods, have preferences over consumption and leisure, and differ in terms of their age, their skills as well as their employment shocks. In addition, savings may be precautionary and allow partial insurance against the labor income shocks. Because of the lack of full insurance, this model generates an endogenous distribution of wealth across consumers, enabling us to assess the welfare implications of the redistribution policy experiment. I calibrated the model using the US data for 1980 and then use the model to investigate the changes in criminality between 1980 and 1996. The main results that come out of this study are: 1) Law enforcement policy was the most important factor behind the fall in criminality in the period, while the increase in inequality was the most important single factor promoting crime; 2) Stigmatization is not a free-cost crime control policy; 3) Income redistribution can be a powerful alternative policy to fight crime. Finally, the third article studies the impact of HIV/AIDS on per capita income and education. It explores two channels from HIV/AIDS to income that have not been sufficiently stressed by the literature: the reduction of the incentives to study due to shorter expected longevity and the reduction of productivity of experienced workers. In the model individuals live for three periods, may get infected in the second period and with some probability die of Aids before reaching the third period of their life. Parents care for the welfare of the future generations so that they will maximize lifetime utility of their dynasty. The simulations predict that the most affected countries in Sub-Saharan Africa will be in the future, on average, thirty percent poorer than they would be without AIDS. Schooling will decline in some cases by forty percent. These figures are dramatically reduced with widespread medical treatment, as it increases the survival probability and productivity of infected individuals.

Análise do polímero PHA em Saccharomyces cerevisiae recombinante : superexpressão de phaG, e a contribuição in vivo das enzimas auxiliares envolvidas na beta-oxidação de ácidos graxos insaturados em peroxissomos

Os polímeros do tipo poli-hidroxialcanoatos (PHAs) são poliésteres bacterianos que apresentam as propriedades de termoplásticos e elastômeros biodegradáveis. A síntese deste polímero em plantas de interesse agroindustrial tem sido vista como uma área promissora dentro da biotecnologia de polímeros para a produção em grande escala com baixos custos. Contudo, esta tarefa requer o aprimoramento de diferentes metodologias bioquímicas e moleculares, além de maximizar os processos de extração destes polímeros biológicos. A produção de PHAs em peroxissomos ou no citoplasma de Saccharomyces cerevisiae, por meio da expressão de uma PHA-sintase bacteriana, pode servir como indicador e modulador do fluxo de carbonos que percorre vias biossintéticas como a síntese de novo de ácidos graxos e a β-oxidação. Esta levedura tem sido usada como eucarioto modelo para manipular as rotas envolvidas na síntese de PHAs do tipo MCL (PHA com um número médio de carbonos), um polímero menos cristalino e com menor ponto de fusão quando comparado ao PHA-SCL (PHA com um número pequeno de carbonos). A enzima PhaG (3-hidroxidecanoil-ACP-CoA transacilase) é responsável pela conexão entre a síntese de ácidos graxos e a produção de PHA-MCL em bactérias do gênero Pseudomonas, em meios de cultura contendo uma fonte de carbono nãorelacionada como gliconato, etanol ou acetato. Para tentar estabelecer esta rota metabólica em S. cerevisiae, o presente trabalho avaliou a coexpressão de PhaGPa e PhaC1Pa (PHA-sintase) de P. aeruginosa para a síntese de PHA-MCL a partir de uma fonte de carbono não-relacionada em leveduras. Contudo, a presença de PhaGPa não alterou a composição ou a quantidade de PHA-MCL em relação à cepa controle contendo apenas PhaC1Pa citoplasmática ou direcionada ao peroxissomo, independentemente da fonte de carbono utilizada (rafinose ou ácido oléico). Este resultado permite sugerir que a ligação entre a síntese de ácidos graxos e a produção de PHA-MCL em S. cerevisiae não foi estabelecida, provavelmente devido à ausência de algum passo enzimático que limita o desvio de substratos da síntese de ácidos graxos para a produção de PHA-MCL em organismos que não são capazes de acumular naturalmente este polímero quando cultivados em fontes de carbono não-relacionadas.A levedura S. cerevisiae tem sido usada como um sistema modelo para estudar a β-oxidação de ácidos graxos insaturados em peroxissomos. A produção de PHA-MCL pela expressão de PhaC1Pa em peroxissomos de cepas selvagens e mutantes nulos de S. cerevisiae para as enzimas auxiliares da β-oxidação (Eci1p, Sps19p e Dci1p), multiplicadas em meio de cultivo contendo um ácido graxo insaturado como fonte de carbono, permitiu monitorar o fluxo de carbonos que percorre as vias dependente de isomerase, redutase e di-isomerase. Desta forma, o presente estudo permitiu avaliar a β- oxidação in vivo dos ácidos graxos linoléico conjugado, 9-cis,11-trans-CLA (ácido rumênico) ou 10-cis,13-cis-nonadecadienóico, para determinar a contribuição das vias alternativas na degradação destes substratos pela utilização de cepas selvagens, mutantes nulos e linhagens contendo um plasmídio multicópia para os genes ECI1 (Δ3- Δ2-enoil-CoA isomerase), SPS19 (2,4-dienoil-CoA redutase) e DCI1 (Δ3,5-Δ2,4-dienoil- CoA isomerase). As linhagens selvagens foram capazes de sintetizar PHA-MCL quando cultivadas em ácido rumênico, mas a atividade da enzima Eci1p foi essencial para a degradação deste CLA, indicando que a via dependente de isomerase é a única rota in vivo necessária para a β-oxidação do ácido rumênico em peroxissomos de S. cerevisiae. A contribuição da enzima di-isomerase (Dci1p) para a degradação do ácido 10- cis,13-cis-nonadecadienóico foi avaliada em cepas selvagens, mutantes nulos dci1Δ e linhagens de S. cerevisiae contendo os plasmídeos multicópia. De acordo com o conteúdo e a quantidade de PHA formado, a β-oxidação de ácidos graxos cisinsaturados em um carbono ímpar é, in vivo, independente da di-isomerase. Embora este resultado possa indicar o mesmo padrão de envolvimento de Dci1p na degradação de ácidos graxos cis-insaturados em um carbono ímpar em mitocôndrias de mamíferos, esta via alternativa deve ser mais bem investigada em eucariotos superiores.

Termo de ajustamento de conduta: uma forma alternativa de acesso à justiça

Esta monografia analisa as características do Termo de Ajustamento de Conduta, bem como demonstra os motivos pelos quais se apresenta como uma solução para a efetividade do princípio do acesso à justiça. Para demonstrar que o TAC é de fato uma alternativa à via judicial, foram obtidos dados nos sites do Tribunal de Justiça do Rio de Janeiro e do Conselho Nacional de Justiça que comprovaram a crise do sistema judiciário. Em seguida, foram expostas algumas características do ajustamento de conduta bem como sua evolução ao longo dos anos. A princípio, tais peculiaridades corroboram ainda mais a ideia de “substitutividade” ao procedimento judicial, uma vez que o instituto além de ser mais célere, não impõe as formalidades exigidas pelo poder judiciário. Por fim, foram apresentados dois termos de ajustamento de conduta, sendo primeiro firmado pelo Ministério Público Federal em conjunto com o Ministério Público Estadual, e o segundo pelo Ministério Público do Trabalho. A conclusão deste estudo é a de que TAC tem todo o potencial para tornar-se uma alternativa à solução de litígios, contudo, ainda precisa de certas adaptações para que seja plenamente eficaz.

Cooperativa habitacional autofinanciável :uma alternativa de mercado à escassez de financiamento

As an example of what happened in Brazil in the 90s, it s noticed in Natal a new system of cooperative housing production which is done by advancing the users resources selffinancing. This system comes as an alternative for the real state market performance since the end of the National Housing Bank (BNH), in 1986. Self-financed housing cooperatives play an important social role by contributing to own housing acquisition by low-income population, without, however, becoming a mechanism of social interest housing production. It is important to consider that Brazil registers a housing deficit of 6.6 million housing units (IBGE 2000/Census), which, compared to 1991, shows an increment of 21.7% to a growth rate of 2.2% a year. This deficit figure has been deepening, mainly with the end of the National Housing Bank (BNH). The self-financed cooperative housing production broadens around the Metropolitan Region of Natal (RMN) and remains as an alternative to the lack of financing in the housing / real state market. In general, the aim of this work is to analyze the role of self-financing housing cooperatives on the housing production in the RMN, in order to identify their role in the real state market, in the own housing promotion and in the housing policy. The Universe of this study is performance of four housing cooperatives - CHAF-RN, COOPHAB-RN, MULTHCOOP e CNH - that work through self-financing. It is considered here an amount of 38 undertakings launched between 1993 and 2002, including 8143 housing units. The methodology adopted consists of bibliographic, documental and field research. As a result, actions like brokerage, marketing, speculation, and the criteria to define places for undertakings and final products, show how close they are to the housing market production. As a matter of fact, this short distance explains why the self-financed cooperative production for social interest housing is still limited. This reinforces the theory that it is necessary to define and implement a subsidized housing policy to serve the low-income Brazilian population

Faecal bacteria in Perna perna (Linnaeus, 1758) (Mollusca: Bivalvia) for biomonitoring coastal waters and seafood quality

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

The feeding activity of Colossoma macropomum larvae (tambaqui) in fishponds with water hyacinth (Eichhornia crassipes) fertilizer

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

Análise in vitro da atividade antifúngica e de toxicidade da anfotericina B pré-aquecida

The aim of this work was to evaluate how an aqueous micellar system containing Amphotericin B (AmB) and sodium deoxycholate (DOC) can be rebuilt after heating treatment. Also a review of the literature about the new physicochemical and biological properties of this new system was carried out. Afterwards, heated (AmB-DOC-H) and unheated (AmB-DOC) micelles were subsequently diluted at four different concentrations (50mg.L-1, 5mg.L-1, 0.5mg.L-1 and 0.05mg.L-1) to perform the physicochemical study and, then, the pharmacotoxicity assay, in which two cell models were used for the in vitro experiments, Red Blood Cells (RBC) from human donors and Candida parapisilosis (Cp). While potassium (K+) and hemoglobin leakage from RBC were the used parameters to evaluate the acute and chronic toxicity, respectively, the efficacy of AmB-DOC and AmB-DOC-H were assessed by K+ leakage and cell survival rate from Cp. The spectral study revealed a slight change on the aggregate peak from 327nm to 323nm for AmB-DOC-H compared to AmB-DOC. Concerning the toxicity, although AmB-DOC and AmB-DOC-H presented different behavior for hemoglobin leakage, AmB-DOC produced higher leakage than AmB-DOC-H at high concentrations (from 5mg.L-1) with values tending to zero. However, concerning K+ leakage, both AmB-DOC and AmB-DOC-H, showed similar profile for both cell models, RBC and Cp (p<0,05). AmB-DOC-H and AmB-DOC also revealed similar profile of activity against Cp with equivalent survival rate. In short, the AmB-DOC-H showed much less toxicity than AmB-DOC, but remained as active as the late one against fungal cell. Therefore, the results highlight the importance of this new procedure as a simple, inexpensive and safe alternative to produce a new kind of micelle system for treatment of systemic fungal infections

Associativismo nos municípios rurais: uma alternativa de desenvolvimento local em Portalegre/RN

This work aims to study the associations as mediating the process of social change and its importance for local development. The hypothesis is that associations, but bring dynamism to the smaller cities and improve the living conditions of their members, relegated to the background social sustainability, understood this as a permanent exercise of mobilization and participation in community life. The assumptions of the study are that the practice group has influenced the processes of local development in Brazilian rural municipalities through the mediation of government programs and projects aimed at combating rural poverty require social organization for their achievement. The concept of local development in this work was rescued from studies of political economy and sociology. But the concepts of collective action and partnerships advêem studies of political participation and social development of the theory of alternative or solidarity. The party consisted of an empirical case study conducted with four associations of farmers in the municipality of Portalegre-RN. Why choose qualitative study was used the technique of semi-structured interviews with the chairmen I members of associations and other actors considered essential to understanding the study (religious leaders, local political power and chairman of the union of rural workers), a total of 20 interviews, in addition to the observations of field and documentary research in records of the.ir own organizations. The survey results show that the performance of groups of farmers are key components and determinants for the production I marketing of agricultural products and for boosting the economy, as well as security for minimum levels of citizenship. Yet we are still in a space purpose of social change, which comes to confirm the initial hypothesis of this work

Utilização intracoágulo de espuma fibrinolítica - preparação, caracterização e atividade in vitro de uma espuma de estreptoquinase e proposta de uma nova abordagem terapêutica

Foam was developed as a novel vehicle for streptokinase with the purpose of increasing the contact time and area between the fibrinolytic and the target thrombus, which would lead to a greater therapeutic efficacy at lower doses, decreasing the drug s potential to cause bleeding. Fibrinolytic foams were prepared using CO2 and human albumin (at different v:v ratios), as the gas and liquid phases, respectively, and streptokinase at a low total dose (100,000 IU) was used as fibrinolytic agent conveyed in 1 mL of foam and in isotonic saline solution. The foams were characterized as foam stability and apparent viscosity. The thrombolytic effect of the streptokinase foam was determined in vitro as thrombus lysis and the results were compared to those of a fibrinolytic solution (prepared using the same dose of streptokinase) and foam without the fibrinolytic. In vitro tests were conducted using fresh clots were weighed and placed in test tubes kept at 37 ° C. All the samples were injected intrathrombus using a multiperforated catheter. The results showed that both foam stability and apparent viscosity increased with the increase in the CO2:albumin solution ratio and therefore, the ratio of 3:1 was used for the incorporation of streptokinase. The results of thrombus lysis showed that the streptokinase foam presented the highest thrombolytic activity (44.78 ± 9.97%) when compared to those of the streptokinase solution (32.07 ± 3.41%) and the foam without the drug (19.2 ± 7.19%). We conclude that fibrinolytic foam showed statistically significant results regarding the enhancement of the lytic activity of streptokinase compared to the effect of the prepared saline solution, thus it can be a promising alternative in the treatment of thrombosis. However, in vivo studies are needed in order to corroborate the results obtained in vitro

Repair of lamellar scleral lesions in dogs with preserved equine renal capsule: short report

OBJETIVO: Avaliar o uso da cápsula renal de eqüino preservada em glicerina 98% no reparo de lesões lamelares esclerais em cães. MÉTODOS: Foram utilizados 12 cães, machos e fêmeas, com peso médio de 12kg. Foram realizadas avaliações clínica e morfológica aos 1, 3, 7, 15, 30 e 60 dias de pós-operatório. Após anestesia geral e procedimentos padrões de preparo do campo operatório, foi realizada cantotomia temporal, seguida de incisão conjutival e escleral com área de 0,5x0,5 cm na posição de 1hora, próxima ao limbo. em seguida, um fragmento de mesma dimensão de cápsula renal de eqüino preservada em glicerina, previamente hidratado em solução salina, foi aplicado ao defeito escleral criado sendo fixado com pontos simples isolados com vicryl 7-0®. RESULTADOS: A avaliação clínica revelou blefaroespasmo/fotofobia até o sétimo dia de pós-operatório. Foi observado edema conjuntival até o quinto dia, acompanhado de secreção ocular mucóide, que persistiu até o décimo dia de pós-operatório. Não foram observados sinais clínicos de rejeição do enxerto em todos os animais, em todos os períodos avaliados. Os segmentos anterior e posterior do bulbo ocular não apresentaram sinais de inflamação. A análise morfológica revelou exsudação inflamatória aguda nos períodos precoces e intermediários da avaliação e inflamação crônica nos períodos tardios da observação. Houve incorporação do enxerto ao leito receptor. CONCLUSÃO: Os resultados sugerem que a cápsula renal de eqüino preservada pode ser mais uma alternativa de membrana biológica para o reparo de lesões esclerais lamelares em cães e no homem.

A mediação como instrumento concretizador do direito fundamental à saúde: uma alternativa à judicialização de conflitos Natal 2013

In Brazil, the 1946 Constitution enshrined the right to health, having it defined as the possession of the best state of health that the individual can achieve. Already the Federal Constitution of 1988 lifted that right to the status of fundamental social right, which transcends the effectiveness and cure of the disease is based on the joint liability of public entities for the provision of a quality service, efficient and prioritize human dignity and comprehensive evaluation of patients. According to the World Health Organization, the definition of health, first characterized as the mere absence of disease, has become recognized as the need to search for preventive mechanisms to ensure the welfare and dignity of the population. Garantista this context, the growing seem lawsuits that deal with the implementation of public policies, especially in the area of the right to health, the omission of which the Government can result in the risk of death. Hence the concern of law professionals about whether or not the intervention of the judiciary in cases that deal with providing material benefits of health care. It claims to break the principle of separation of powers, disobedience to the principle of equality and the impossibility of judicial intervention in the formulation of public policy to try and exclude the liability of public entities. In contrast, the judiciary has repeatedly guardianships granted injunctions or merit determining the supply of materials indicated by the medical benefits that accompany the treatment of patients who resort to a remedy. In this context, mediation, object of study and resolution presented in this work, is presented as an instrument conciliator between the reserve clause and the right to financially possible existential minimum, as it seeks to serve all through rationalization of health services , avoidance of negativistic influence of the pharmaceutical industry, with prioritizing the welfare of the individual and the quality of relationships. This is alternative way to judicialization that in addition to encouraging and developing active citizen participation in public policy formulation also allows the manager to public knowledge of community needs. It is in this sense that affirms and defends the right to health is no longer the mere provision of medical care and prescription drugs, but a dialogue conscious existential minimum to guarantee a dignified life

Operational parameters of soybean seeding in santa fe system

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

A literatura na sala de aula: uma alternativa de ensino transdisciplinar

The present thesis studies the appropriate education of the literary gender based in an approach of trans-disciplinary teaching. The main objectives will be to survey the degree of trans-disciplinarity of the literary reading in classrooms and to propose the literary reading as an alternative of trans-disciplinary teaching. The theoretical contributions, which sustain the lines of central argument of this thesis, are related to the critical theories on the epistemological and methodological crisis in the speech of the modernity; the emergency of an emerging paradigm under the optics of the speech of the post-modernity; the theories concerned to curriculums and their interrelations with the school teaching; the theories of the complexity and of the inter and trans-disciplinarity; theories of the reading and of the literature, more precisely the literary semiology and the aesthetics of the acceptance; theories about the pedagogic mediation starting from presupposed and trans-disciplinary principles. The methodological foundations, of the type inter and trans-disciplinary, which anchor the approach of the study is related to a line of qualitative analyses applied the teaching-learning situation accomplished during the data collection during the empiric stage of the research. The analyzed corpus is composed of episodes originated from the classes with literary texts accomplished in the months of June and December of 2005, under the orientation of a complex and trans-disciplinary didacticism. The involved subjects are students in the age group of 9 and 13 years of age from a public school in the county of Cabo de Santo Agostinho, in the State of Pernambuco. Starting from the discoveries found during the research, so much bibliographical, as that of the field, it is possible to conclude, among other things, that the literary reading, when mediated accordingly in the classroom, is a trans-disciplinary object of high degree, because the literary reading can allow and make it possible to the real reader, through a necessary process of speculation on life and its unfolding, solid reflection around the individual and collective occurrences so much in simpler instances as in more complex ones

Late pest control in determinate tomato cultivars

O uso de plantas inseticidas e de variedades pode ser forte aliado ao Manejo Integrado de Pragas (MIP), podendo reduzir o número de aplicações de inseticidas e minimizar seus efeitos ao homem e ao meio ambiente. em condições de campo, visando o controle de pragas tardias do tomateiro em duas cultivares de crescimento determinado, compararam-se as seguintes táticas de controle: a) Convencional - pulverizações com os produtos metamidofós, buprofezin, acefato, cipermetrina, abamectina, permetrina, teflubenzuron e lufenuron, aplicados em intervalos de três a seis dias; b) MIP - nível de ação de cada praga para aplicações de imidacloprid, triflumuron, lufenuron e abamectina; c) MIP - Azadirachta indica (nim) - nível de ação de cada praga para aplicações de óleo de nim (1,2% de azadiractina) a 0,5%. As táticas de controle MIP e MIP - nim foram eficientes no controle das pragas tardias do tomateiro, quando a pressão da população é baixa, não diferindo do tratamento convencional que apresentou as menores médias de infestação. As táticas de controle convencional, MIP e MIP-nim promoveram maiores produções do tomateiro, com incrementos de até 74%. O número de pulverizações foi reduzido em até 77% com as táticas MIP e MIP - nim, comparado ao método convencional. O produto nim pode ser alternativa promissora no controle de pragas tardias do tomateiro em campo, que se ajusta ao MIP.