Public debt sustainability and endogenous seigniorage in Brazil: time-series evidence from 1947-92: revised version

Using national accounts data for the revenue-GDP and expenditureGDP ratios from 1947 to 1992, we examine three central issues in public finance. First, was the path of public debt sustainable during this period? Second, if debt is sustainable, how has the government historically balanced the budget after shocks to either revenues or expenditures? Third, are expenditures exogenous? The results show that (i) public deficit is stationary (bounded asymptotic variance), with the budget in Brazil being balanced almost entirely through changes in taxes, regardless of the cause of the initial imbalance. Expenditures are weakly exogenous, but tax revenues are not; (ii) the behavior of a rational Brazilian consumer may be consistent with Ricardian Equivalence; (iii) seigniorage revenues are critical to restore intertemporal budget equilibrium, since, when we exclude them from total revenues, debt is not sustainable in econometric tests.

OpenWordNet-PT: an open brazilian wordnet for reasoning

Brazilian Portuguese needs a Wordnet that is open access, downloadable and changeable, so that it can be improved by the community interested in using it for knowledge representation and automated deduction. This kind of resource is also very valuable to linguists and computer scientists interested in extracting and representing knowledge obtained from texts. We discuss briefly the reasons for a Brazilian Portuguese Wordnet and the process we used to get a preliminary version of such a resource. Then we discuss possible steps to improving our preliminary version.

Implied Hazard Rates Analysis Through Brazilian Corporate Debt

No Brasil, o mercado de crédito corporativo ainda é sub-aproveitado. A maioria dos participantes não exploram e não operam no mercado secundário, especialmente no caso de debêntures. Apesar disso, há inúmeras ferramentas que poderiam ajudar os participantes do mercado a analisar o risco de crédito e encorajá-los a operar esses riscos no mercado secundário. Essa dissertação introduz um modelo livre de arbitragem que extrai a Perda Esperada Neutra ao Risco Implícita nos preços de mercado. É uma forma reduzida do modelo proposto por Duffie and Singleton (1999) e modela a estrutura a termo das taxas de juros através de uma Função Constante por Partes. Através do modelo, foi possível analisar a Curva de Perda Esperada Neutra ao Risco Implícita através dos diferentes instrumentos de emissores corporativos brasileiros, utilizando Títulos de Dívida, Swaps de Crédito e Debêntures. Foi possível comparar as diferentes curvas e decidir, em cada caso analisado, qual a melhor alternativa para se tomar o risco de crédito da empresa, via Títulos de Dívida, Debêntures ou Swaps de Crédito.

Applying supply chain management models in the banking industry: a brazilian case analysis

The study presents the results and recommendations deriving from the application of two supply chain management analysis models as proposed by the Supply Chain Council (SCOR, version 10.0) and by Lambert (1997, Framework for Supply Chain Management) on the logistics of cash transfers in Brazil. Cash transfers consist of the transportation of notes to and from each node of the complex network formed by the bank branches, ATMs, armored transportation providers, the government custodian, Brazilian Central Bank and financial institutions. Although the logistic to sustain these operations is so wide-ranged (country-size), complex and subject to a lot of financial regulations and security procedures, it has been detected that it was probably not fully integrated. Through the use of a primary and a secondary data research and analysis, using the above mentioned models, the study ends up with propositions to strongly improve the operations efficiency

Cross-cultural adaptation of the Portuguese version of the patient-generated subjective global assessment

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

Walking for leisure among adults from three Brazilian cities and its association with perceived environment attributes and personal factors

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Oldenburg Burnout Inventory - student version: cultural adaptation and validation into Portuguese

Realizou-se adaptação cultural do Inventário de Oldenburg para estudantes (OLBI-S) em português e estimou-se sua confiabilidade e validade. O OLBI-S foi preenchido por 958 estudantes universitários brasileiros e 602 portugueses. O modelo fatorial original apresentou ajustamento adequado mas foram removidos dois itens com confiabilidade individual baixa (λ<0,5). A nova estrutura apresentou bom ajustamento a 2/3 da amostra total sendo invariante no 1/3 restante da amostra. Verificou-se baixa consistência interna e validade convergente, confiabilidade compósita aceitável, boa validade discriminante, concorrente e divergente. O OLBI-S não foi invariante nas amostras de Brasil e Portugal. O OLBI-S apresentou limitações e ausência de validade transcultural nas amostras estudadas.

Copenhagen Burnout Inventory - student version: adaptation and transcultural validation for Portugal and Brazil

Realizou-se adaptação cultural do Inventário de Burnout de Copenhagen para estudantes (CBI-S) em português e estimou-se sua confiabilidade e validade. O CBI-S foi preenchido por 958 estudantes universitários brasileiros e 556 portugueses. O modelo fatorial original apresentou bom ajustamento entretanto, foram removidos dois itens com confiabilidade individual baixa (λ<0,5). A nova estrutura apresentou bom ajustamento a 2/3 da amostra total sendo invariante no 1/3 restante da amostra original. Verficou-se adequada consistência interna e validade convergente, discriminante e concorrente. Os pesos fatoriais do CBI-S não foram invariantes nas amostras de Brasil e Portugal. O CBI-S apresentou adequada confiabilidade e validade entretanto, verificou-se ausência de estabilidade transcultural.

Comorbidity of obsessive-compulsive disorder and personality disorders. A Brazilian controlled study

The aim of this study was to evaluate the presence of personality disorders (PDs) in 40 patients with obsessive-compulsive disorder (DSM-III-R criteria) from the Medical School of Botucatu (UNESP), Sao Paulo, Brazil. It is a case-control study. Patients were 24 women and 16 men, 16-68 years old, referred to our outpatient psychiatric service for treatment. Controls were 40 nonpsychiatric outpatients matched to the cases by sex, age and marital status. The instrument used was the Portuguese version of the Structured Interview for DSM-III-R Personality Disorders (SIDP-R). All interviews (n = 80) were made simultaneously by 2 raters, with independent scoring, so that the interrater reliability of the instrument could also be assessed (kappa statistics). The consensual axis II diagnoses in the OCD group were: avoidant (52.5%, κ = 0.80), dependent (40%, κ = 0.84), histrionic (20%, κ = 0.83), paranoid (20%, κ = 0.74), obsessive-compulsive (17.5%, κ = 0.86), narcissistic (7.5%, κ = 1.00), schizotypal (5%, κ = 0.65), passive-aggressive (5%, κ = 0.79) and self-defeating (5%, κ 0.55). At least one PD diagnosis was made in 70% of the patients, while only 6 controls had a PD diagnosis (p < 0.01). A great deal of diagnostic overlap was found in the OCD group (57.5% had two or more PDs), especially between avoidant and dependent PDs. The features of these two PDs may be secondary to the OCD. The study also suggests that there is not a close relationship between OCD and obsessive-compulsive personality disorder (OCPD). Patients with OCPD or even 3 or 4 O-C traits had significantly less insight into their obsessions and compulsions (p < 0.01).

Cogeneration for small users: case studies for Brazilian tertiary sector

In this paper we present technical and economic studies of cogeneration systems utilizing combustion engines and gas turbines, applied in two establishments of the tertiary sector, regarding Brazilian conditions (according to Silveria, 1994). In the first step cogeneration systems utilizing combustion engines associated to absorption refrigeration systems are studied, in which electricity and cold air for a university building rate produced. In the second step some possibilities of the use of the gas turbine in cogeneration systems for a hospital are shown. In this case, the exhaust gases are utilized for the production of steam in a heat recovery steam generator (HRSG) or cold water in an absorption refrigeration system (for air conditioning) for the hospital building. The dynamic increment of the energy demand of Brazilian tertiary sector in last years can increase the installation of these cogeneration system (in compact version) as well as strengthen the development of the decentralized energy generation in Brazil.

Nuclear phenotypes and morphometry of human secretory prostate cells: A comparative study of benign and malignant lesions in Brazilian patients

Prostatic lesions in Brazilian patients with benign prostatic hyperplasia (BPH, 26 cases) or adenocarcinoma (AC, 25 cases) were compared by qualitative microscopy and morphometric analysis. In 12 cases of BPH, prostate regions with no histological alterations were considered as controls (Ct). Archival material consisted of formalin-fixed, paraffin-embedded specimens obtained from prostatic transurethral resection and radical prostatectomy. Haematoxylin/eosin (HE)-stained sections were used to estimate the nuclear areas, perimeters and form factor values. HE-stained sections from AC specimens were also used for Gleason grading. BPH, AC and Ct could be discriminated by their nuclear areas and nuclear perimeters, but not by the nuclear form factor parameter. No significant differences were found when the AC data were compared using the combined version or the predominant grade version of the Gleason score (p = 0.8380 for nuclear area; p = 0.6076 for nuclear perimeter; p = 0.9202 for nuclear form factor; n = 200 nuclei per patient). This finding indicates that there is extensive heterogeneity in the size and shape of the nucleus in AC cells. These results also show that although the nuclear morphometry served to discriminate BPH and AC from each other and from Ct, it was not sufficient to correlate AC lesions with their respective Gleason scores in the human population analyzed.

Dornase alfa improves the health-related quality of life among Brazilian patients with cystic fibrosis - A one-year prospective study

Background: Health-related quality of life (HRQOL) measurements provide valuable information about the psychological and social impact of treatment on patients with cystic fibrosis (CF). This study evaluated the HRQOL of Brazilian patients with CF and assessed the changes in HRQOL domains over 1 year after dornase alfa (Pulmozyme) introduction. Patients and Methods: One hundred fifty-six stable patients with CF and 89 caregivers answered the Portuguese-validated version of the Cystic Fibrosis Questionnaire-Revised (CFQ-R) at baseline (T 0), and at 3 (T 1), 6 (T 2), 9 (T 3), and 12 (T 4) months of follow-up. Eighteen patientswere excluded because they did not fulfill the inclusion criteria. The patients were analyzed in two groups: those aged 6-11 years and those aged 14 years and older. ANOVA for observed repeated results and the last observation carried forward (LOCF) method for missing data were used for the statistical analysis. Results: After 1 year of follow-up, there was significant improvement in respiratory symptoms (T 4-T 0=8.1; 95% confidence interval (95% CI)=[2.1;14.0]; effect size (ES)=0.35; P<0.001), Emotional Functioning (T 4-T 0=5.6; 95% CI=[1.1;10.1]; ES=0.31; P<0.05), Social Functioning (T 4-T 0=6.0; 95% CI=[1.3;11.7]; ES=0.31; P<0.05), Body Image (T 4-T 0=11.9; 95% CI=[4.1;19.7]; ES=0.42; P<0.05), and Treatment Burden (T 4-T 0=5.3; 95% CI=[0.3;10.3]; ES=0.24; P<0.05) domains in the younger group. A significant improvement in Role Functioning (T 4-T 0=6.1; 95% CI=[1.1;11.1]; ES=0.40; P<0.05), Body Image (T 4-T 0=12.6; 95% CI=[3.5;21.7]; ES=0.46; P<0.05), and Weight (T 4-T 0=11.7; 95% CI=[1.8;21.6]; ES=0.40; P<0.05) was obtained in the older group. The caregivers' CFQ-R showed improvements in the Digestive Symptoms (T 4-T 0=5.5; 95% CI=[1.5;9.4]; ES=0.30; P<0.05), Respiratory Symptoms (T 4-T 0=7.6; 95% CI=[3.9;11.4]; ES=0.48; P<0.05), and Weight (T 4-T 0=10.1; 95% CI=[1.6;18.6]; ES=0.26; P<0.05) domains. Conclusion: The introduction of dornase alfa improved the HRQL of the patients with CF during the first year of treatment. © 2010 Wiley-Liss, Inc.

Perceived quality of life and physical activity in Brazilian older adults

The purpose of this study was to investigate the association between self-perceived quality of life and physical activity in Brazilian older adults. We investigated 199 individuals (117 men and 82 women) aged between 60 to 70 years old, employees of a public university. Physical activity was estimated by the short version of the International Physical Activity Questionnaire (IPAQ). Self-perceived quality of life was assessed using the World Health Organization Quality of Life (WHOQOL-Bref) questionnaire composed of four domains: physical, psychological, social relationship and environment. There was no difference in self-perceived quality of life between men and women. In contrast, quality of life was associated with physical activity even after adjustment for gender, schooling and income. The physical domain presented the strongest association with physical inactivity (Odds Ratio = 2.70, 95% CI 1.87-3.52). Only the environment domain evaluated by WHOQOL-Bref was not associated to physical inactivity. Among the older, improved self-perceived quality of life is positively associated to physical activity. © FTCD/FIP-MOC.

Preschool Language Assessment Instrument, second edition, in Brazilian Portuguese-speaking children

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

Translation and cultural adaptation of Brazilian Detailed Assessment of Speed of Handwriting: conceptual and semantic equivalence

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