Pricing and hedging of oil futures : a unifying approach

We develop and empirically test a continuous time equilibrium model for the pricing of oil futures. The model provides a link between no-arbitrage models and expectation oriented models. It highlights the role of inventories for the identification of different pricing regimes. In an empirical study the hedging performance of our model is compared with five other one- and two-factor pricing models. The hedging problem considered is related to Metallgesellschaft´s strategy to hedge long-term forward commitments with short-term futures. The results show that the downside risk distribution of our inventory based model stochastically dominates those of the other models.

Diagnóstico empresarial: uma visão sistêmica

Este trabalho tem como finalidade abordar a análise de empresas, através do diagnóstico empresarial. O enfoque adotado correlaciona o estudo do diagnóstico empresarial com a visão sistêmica, isto é, analisa-se a empresa como um todo. Este trabalho é uma preocupação em detectar os problemas das empresas e as alternativas a serem tomadas para eliminá-los, através da incorporação da Teoria dos Sistemas .

Imbricações entre Goethe e Kant: Arte, Natureza e Sublime

Este ensaio aborda afinidades entre Johann Wolfgang von Goethe (1749-1832) e Immanuel Kant (1724-1804), principalmente em relação à Crítica da Faculdade do juízo kantiana. Investiga-se assim o diálogo teórico que implícita ou explicitamente permeia o texto goethiano e a obra do filósofo de Königsberg envolvendo temas, tais como Arte, Natureza e Sublime.

A construção do olhar: a Viagem à Itália, de Goethe

Investiga-se a Viagem à Itália de Johann Wolfgang von Goethe, obra que narra a viagem à península italiana de 1786 a 1788, publicada em 1816-1817. Contudo, mais do que uma reconstrução de sua viagem através das memórias e diários, a Viagem importa, antes de mais, como uma narrativa da construção de um novo olhar para com a obra de arte, como a construção da própria estética goetheana.

O discurso do grotesco na mídia digital

This study presents our research on the discourse of the grotesque in digital media, specifically in two blogs. We rely on the theoretical-conceptual and methodological discourse analysis of the French School. We analyzed a set of posts in the following blogs: Eu Sou Ryca and Cleycianne, and we did it based on some propositions on the discourse of the grotesque by Mikhail Bakhtin (1999a), Muniz Sodré and Raquel Paiva (2002), Wolfgang Kayser (2003) and Mary Russo (2000). The expressions of the grotesque analyzed in the blogs Eu Sou Ryca and Cleycianne result predominantly in humorous effect, obtained by means of irony and parodization, which calls for ridicule and relegation, through a strong tension between the beautiful and the ugly, the socially acceptable and the aberration, the taste for the strange and the aesthetically striking. The grotesque appears initially as a significant feature of ornamental paintings found in Roman caves in the late fifteenth century, and today it can be seen permeating from sculptures, paintings, literary works, talk shows for television, videos hosted in cyberspace, specifically in the collective domain of weblogs. This work seeks to analyze how the discourse of the grotesque constitutes the humorous process in its insertion in cyberspace

The antibiotics roseoflavin and 8-demethyl-8-amino-riboflavin from Streptomyces davawensis are metabolized by human flavokinase and human FAD synthetase

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Fermi acceleration and its suppression in a time-dependent Lorentz gas

Some dynamical properties for a Lorentz gas were studied considering both static and time-dependent boundaries. For the static case, it was confirmed that the system has a chaotic component characterized with a positive Lyapunov exponent. For the time-dependent perturbation, the model was described using a four-dimensional nonlinear map. The behaviour of the average velocity is considered in two different situations: (i) non-dissipative and (ii) dissipative dynamics. Our results confirm that unlimited energy growth is observed for the non-dissipative case. However, and totally new for this model, when dissipation via inelastic collisions is introduced, the scenario changes and the unlimited energy growth is suppressed, thus leading to a phase transition from unlimited to limited energy growth. The behaviour of the average velocity is described using scaling arguments. (C) 2010 Elsevier B.V. All rights reserved.

Preparation of different basic Si-MCM-41 catalysts and application in the Knoevenagel and Claisen-Schmidt condensation reactions

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Tuning the acidic properties of aluminas via sol-gel synthesis: New findings on the active site of alumina-catalyzed epoxidation with hydrogen peroxide

This study answers several pending questions about alumina-catalyzed epoxidation with aqueous 70 wt% H2O2. To evaluate the effect of the water-to-aluminum tri-sec-butoxide molar ratio, this was systematically changed from 1 to 24. The xerogels were calcined at 450 degrees C and gave different gamma-Al2O3's with distinct textural and acidic properties. A combination of Al-27 MAS NMR and TPD-NH3 results of calcined aluminas allowed us to assign the type la. Al-OH sites as the catalytic sites for epoxidation. The type Ib Al-OH sites have no function in catalytic epoxidation, because ethyl acetate poisons these sites. The strong acid sites of types IIa, IIb, and III Al-OH groups are responsible for the undesired H2O2 decomposition and decreased oxidant selectivity. (c) 2006 Elsevier B.V. All rights reserved.

Permanent Genetic Resources added to Molecular Ecology Resources Database 1 May 2009-31 July 2009

This article documents the addition of 512 microsatellite marker loci and nine pairs of Single Nucleotide Polymorphism (SNP) sequencing primers to the Molecular Ecology Resources Database. Loci were developed for the following species: Alcippe morrisonia morrisonia, Bashania fangiana, Bashania fargesii, Chaetodon vagabundus, Colletes floralis, Coluber constrictor flaviventris, Coptotermes gestroi, Crotophaga major, Cyprinella lutrensis, Danaus plexippus, Fagus grandifolia, Falco tinnunculus, Fletcherimyia fletcheri, Hydrilla verticillata, Laterallus jamaicensis coturniculus, Leavenworthia alabamica, Marmosops incanus, Miichthys miiuy, Nasua nasua, Noturus exilis, Odontesthes bonariensis, Quadrula fragosa, Pinctada maxima, Pseudaletia separata, Pseudoperonospora cubensis, Podocarpus elatus, Portunus trituberculatus, Rhagoletis cerasi, Rhinella schneideri, Sarracenia alata, Skeletonema marinoi, Sminthurus viridis, Syngnathus abaster, Uroteuthis (Photololigo) chinensis, Verticillium dahliae, Wasmannia auropunctata, and Zygochlamys patagonica. These loci were cross-tested on the following species: Chaetodon baronessa, Falco columbarius, Falco eleonorae, Falco naumanni, Falco peregrinus, Falco subbuteo, Didelphis aurita, Gracilinanus microtarsus, Marmosops paulensis, Monodelphis Americana, Odontesthes hatcheri, Podocarpus grayi, Podocarpus lawrencei, Podocarpus smithii, Portunus pelagicus, Syngnathus acus, Syngnathus typhle,Uroteuthis (Photololigo) edulis, Uroteuthis (Photololigo) duvauceli and Verticillium albo-atrum. This article also documents the addition of nine sequencing primer pairs and sixteen allele specific primers or probes for Oncorhynchus mykiss and Oncorhynchus tshawytscha; these primers and assays were cross-tested in both species.

El papel de la legislación y la regulación en las políticas de uso eficiente de la energía en la Unión Europea y sus Estados Miembros

Incluye Bibliografía

Reformas del sector energético, desafíos regulatorios y desarrollo sustentable en Europa y América Latina

Incluye Bibliografía

Energías renovables y eficiencia energética en América Latina y el Caribe: restricciones y perspectivas

Incluye Bibliografía

Renewable energy and energy efficiency in Latin America and the Caribbean: constraints and prospects

Includes bibliography

Systemic competitiveness: a new challenge for firms and for government

Includes bibliography