A restatement of the welafare costs of inflation. The wast of scarce resources in the manufacturing , banking and household sectors

Lucas (2000) estimates that the US welfare costs of inflation are around 1% of GDP. This measurement is consistent with a speci…c distorting channel in terms of the Bailey triangle under the demand for monetary base schedule (outside money): the displacement of resources from the production of consumption goods to the household transaction time à la Baumol. Here, we consider also several new types of distortions in the manufacturing and banking industries. Our new evidences show that both banks and firms demand special occupational employments to avoid the inflation tax. We de…ne the concept of ”the foat labor”: The occupational employments that are aflected by the in‡ation rates. More administrative workers are hired relatively to the bluecollar workers for producing consumption goods. This new phenomenon makes the manufacturing industry more roundabout. To take into account this new stylized fact and others, we redo at same time both ”The model 5: A Banking Sector -2” formulated by Lucas (1993) and ”The Competitive Banking System” proposed by Yoshino (1993). This modelling allows us to characterize better the new types of misallocations. We …nd that the maximum value of the resources wasted by the US economy happened in the years 1980-81, after the 2nd oil shock. In these years, we estimate the excess resources that are allocated for every speci…c distorting channel: i) The US commercial banks spent additional resources of around 2% of GDP; ii) For the purpose of the firm foating time were used between 2.4% and 4.1% of GDP); and iii) For the household transaction time were allocated between 3.1% and 4.5 % of GDP. The Bailey triangle under the demand for the monetary base schedule represented around 1% of GDP, which is consistent with Lucas (2000). We estimate that the US total welfare costs of in‡ation were around 10% of GDP in terms of the consumption goods foregone. The big di¤erence between our results and Lucas (2000) are mainly due to the Harberger triangle in the market for loans (inside money) which makes part of the household transaction time, of the …rm ‡oat labor and of the distortion in the banking industry. This triangle arises due to the widening interest rates spread in the presence of a distorting inflation tax and under a fractionally reserve system. The Harberger triangle can represent 80% of the total welfare costs of inflation while the remaining percentage is split almost equally between the Bailey triangle and the resources used for the bank services. Finally, we formulate several theorems in terms of the optimal nonneutral monetary policy so as to compare with the classical monetary theory.

Information asymmetry and transaction costs in a cross-cultural business transaction

The intent of this paper is to provide a practitioners insight into the present and foreseeable future of problem of transaction cost economics related to culture and business etiquette that may increase the of complexity of business communication. We will also explore whether it impacts participant's mindsets regarding opportunistic or passive aggressive behavior. We will study the role of culture, ethics, information asymmetry, and legal systems regarding their importance towards the business contracts and lack of knowledge in local environments. We will make connections to contract theory strategies and objectives and recommend business practices. Furthermore, economic theory explores the role of the impossibility of the perfect contract. Historical and present day operational factors are examined for the determination of forward-looking contract law indications worldwide. This paper is intended provide a practitioners view with a global perspective of a multinational, mid-sized and small corporations giving consideration in a non-partisan and non-nationalistic view, yet examines the individual characteristics of the operational necessities and obligations of any corporation. The study will be general, yet cite specific articles to each argument and give adequate consideration to the intricacies of the global asymmetry of information. This paper defends that corporations of any kind and size should be aware of the risk of international business etiquette and cultural barriers that might jeopardize the savings you could obtain from engaging international suppliers.

Impact of worksite health-promotion programs in hospital admission costs and medical leaves in a sample of brazilian companies

Programas de saúde e bem-estar têm sido adotados por empresas como forma de melhorar a saúde de empregados, e muitos estudos descrevem retornos econômicos positivos sobre os investimentos envolvidos. Entretanto, estudos mais recentes com metodologia melhor têm demonstrado retornos menores. O objetivo deste estudo foi investigar se características de programas de saúde e bem-estar agem como preditores de custos de internação hospitalar (em Reais correntes) e da proporção de funcionários que têm licença médica, entre Abril de 2014 e Maio de 2015, em uma amostra não-aleatória de empresas no Brasil, através de parceria com uma empresa gestora de ‘big data’ para saúde. Um questionário sobre características de programas de saúde no ambiente de trabalho foi respondida por seis grandes empresas brasileiras. Dados retirados destes seis questionários (presença e idade de programa de saúde, suas características – inclusão de atividades de screening, educação sobre saúde, ligação com outros programas da empresa, integração do programa à estrutura da empresa, e ambientes de trabalho voltado para a saúde – e a adoção de incentivos financeiros para aderência de funcionários ao programa), bem como dados individuais de idade, gênero e categoria de plano de saúde de cada empregado , foram usados para construir um banco de dados com mais de 76.000 indivíduos. Através de um modelo de regressão múltipla e seleção ‘stepwise’ de variáveis, a idade do empregado foi positivamente associada e a idade do programa de saúde e a categoria ‘premium’ de plano de saúde do funcionário foram negativamente associadas aos custos de internação hospitalar (como esperado). Inesperadamente, a inclusão de programas de screening e iniciativas de educação de saúde nos programas de saúde e bem-estar nas empresas foram identificados como preditores positivos significativos para custos de admissão hospitalar. Para evitar a inclusão errônea de licenças-maternidade, apenas os dados de licença médica de pacientes do sexo masculino foram analisados (dados disponíveis apenas para duas entre as companhias incluídas, com um total de 18.957 pacientes do sexo masculino). Analisando estes dados através de um teste Z para comparação de proporções, a empresa com programa de saúde que inclui atividades voltadas a cessação de hábitos ruins (como tabagismo e etilismo), controle de diabetes e hipertensão, e que adota incentivos financeiros para a aderência de funcionários ao programa tem menor proporção de empregados com licençca médica no período analisado, quando comparada com a outra empresa que não tem estas características (também conforme esperado). Entretanto, a companhia com menor proporção de funcionários com licença médica também foi aquela que adota programa de screening entre as atividades de seu programa de saúde. Potenciais fontes de ameaça à validade interna e externa destes resultados são discutidas, bem como possíveis explicações para a associação entre programas de screening e educação médica a piores indicadores de saúde nesta amostra de companhias são discutidas. Novos estudos com melhor desenho, com amostras maiores e randômicas são necessários para validar estes resultados e possivelmente melhorar a validade interna e externa destes resultados.

Lifestyle factors, direct and indirect costs for a Brazilian airline company

OBJECTIVE: To analyze lifestyle risk factors related to direct healthcare costs and the indirect costs due to sick leave among workers of an airline company in Brazil. METHODS: In this longitudinal 12-month study of 2,201 employees of a Brazilian airline company, the costs of sick leave and healthcare were the primary outcomes of interest. Information on the independent variables, such as gender, age, educational level, type of work, stress, and lifestyle-related factors (body mass index, physical activity, and smoking), was collected using a questionnaire on enrolment in the study. Data on sick leave days were available from the company register, and data on healthcare costs were obtained from insurance records. Multivariate linear regression analysis was used to investigate the association between direct and indirect healthcare costs with sociodemographic, work, and lifestyle-related factors. RESULTS: Over the 12-month study period, the average direct healthcare expenditure per worker was US$505.00 and the average indirect cost because of sick leave was US$249.00 per worker. Direct costs were more than twice the indirect costs and both were higher in women. Body mass index was a determinant of direct costs and smoking was a determinant of indirect costs. CONCLUSIONS: Obesity and smoking among workers in a Brazilian airline company were associated with increased health costs. Therefore, promoting a healthy diet, physical activity, and anti-tobacco campaigns are important targets for health promotion in this study population.

Comparative biology and production costs of Podisus nigrispinus (Hemiptera: Pentatomidae) when fed different types of prey

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Physiological responses of piau (Leporinus friderici, Bloch 1794) to transportation

This study evaluated stress indicators of juvenile piau (Leporinus friderici) during and after a 4-hour transportation in order to establish an appropriate transportation protocol for this type of fish. Fish were transported in plastic bags (133.1 g/L) and sampled before loading, during 1, 2, 3 and 4 h and after transportation (2, 6, 12 and 24 h). Blood samples were analyzed for cortisol and glucose levels, hematocrit, hemoglobin level, number and mean corpuscular volume of erythrocytes. Water pH, dissolved oxygen, temperature and ammonia were monitored before, during and after transportation. No mortality was observed through the experiment. Ammonia levels increased throughout transportation, but the low pH values kept NH3 in safe levels for fish. Cortisol levels increased within 4 h of transportation, and returned to control condition 2 h after arrival. Plasma glucose increased within one hour of transportation, reaching peak value within 4 h and returning to initial condition 2 h after arrival. Erythrocyte number and hemoglobin levels showed the lowest levels 2 h after arrival, and mean corpuscular volume increased during transportation, decreasing at 12 and 24 h after arrival. Transporting piau is stressful, but fish recover the initial condition in short time, showing tolerance to the changes in the water quality parameters.

Remoção mecânica de plantas aquáticas: análise econômica e operacional

A remoção de plantas aquáticas tem sido utilizada como opção ao controle químico e biológico, em razão de restrições ambientais em algumas regiões brasileiras. O objetivo deste trabalho foi desenvolver um modelo para análise econômica e operacional da remoção mecânica de plantas aquáticas, visando realizar estudo econômico comparativo com o controle químico. A operação foi estudada num reservatório de uma usina de bombeamento em Barra do Piraí-RJ. O sistema consiste de retroescavadeiras instaladas em balsas, usadas para cortar as plantas e liberá-las no fluxo de água. Antes da tomada d'água existe uma barreira flutuante que intercepta as plantas, as quais são removidas por um guindaste fixo nas margens. As plantas são armazenadas por algum tempo e depois descartadas. Existe, ainda, um sistema de limpeza das grades da tomada d'água. Dados do volume total de plantas descartadas foram coletados durante 14 meses, assim como foi avaliado o volume de biomassa produzido por área das principais espécies infestantes. A empreiteira que administra o serviço forneceu planilhas de custos e outro parâmetros operacionais. Um modelo foi desenvolvido para calcular custos por hectare de plantas removidas. Os resultados mostraram custo médio mensal de US$ 17.780,28 por hectare. Apesar do alto custo, o sistema de remoção demonstrou capacidade de controlar apenas 4,1% da área infestada no reservatório, na época da coleta dos dados. Simulando dados de uma aplicação de glyphosate, o controle químico custaria apenas 0,23% do custo da remoção. Análises de sensibilidade mostraram que a compactação das plantas para transporte, o volume de plantas produzidas por área e o custo do transporte são os parâmetros principais para a otimização.

Potential and costs for the production of electrolytic hydrogen in alcohol and sugar cane plants in the central and south regions of Brazil

This project verified the potential for the production of hydrogen via water electrolysis by using the exceeding electrical energy resultant from alcohol and sugar plants that use sugar cane bagasse as fuel. The studies were carried out in cogeneration plants authorized by the Electrical Energy National Agency (ANEEL). The processing history of sugar cane considered was based on the 2006/2007 harvests. The total bagasse produced, electrical energy generated and exceeding electrical energy in a year were calculated. It was obtained an average energy consumption value of 5.2 kWh Nm(-3) and the hydrogen production costs regarding the amount of sugar cane processed that ranged from US$ 0.50 to US$ 0.75 Nm(-3). The results pointed that the costs for the production of hydrogen via the bagasse exceeding energy are close to the production costs that use other sources of energy. As the energy generated from the bagasse is a renewable one, this alternative for the production of hydrogen is economical and environmentally viable. (C) 2008 International Association for Hydrogen Energy. Published by Elsevier Ltd. All rights reserved.

Modelagem e simulação da deposição de parafinas em escoamento turbulento

The flow assurance has become one of the topics of greatest interest in the oil industry, mainly due to production and transportation of oil in regions with extreme temperature and pressure. In these operations the wax deposition is a commonly problem in flow of paraffinic oils, causing the rising costs of the process, due to increased energy cost of pumping, decreased production, increased pressure on the line and risk of blockage of the pipeline. In order to describe the behavior of the wax deposition phenomena in turbulent flow of paraffinic oils, under different operations conditions, in this work we developed a simulator with easy interface. For that we divided de work in four steps: (i) properties estimation (physical, thermals, of transport and thermodynamics) of n-alkanes and paraffinic mixtures by using correlations; (ii) obtainment of the solubility curve and determination the wax appearance temperature, by calculating the solid-liquid equilibrium of parafinnic systems; (iii) modelling wax deposition process, comprising momentum, mass and heat transfer; (iv) development of graphic interface in MATLAB® environment for to allow the understanding of simulation in different flow conditions as well as understand the matter of the variables (inlet temperature, external temperature, wax appearance temperature, oil composition, and time) on the behavior of the deposition process. The results showed that the simulator developed, called DepoSim, is able to calculate the profile of temperature, thickness of the deposit, and the amount of wax deposited in a simple and fast way, and also with consistent results and applicable to the operation

Jambolão (Syzygium cumini) desidratado por liofilização e secagem em leito de jorro: avaliação do impacto do processo de secagem e caracterização do potencial funcional do produto final

Tropical fruits have been extensively studied due to their functional potential attributed to the presence of natural bioactive compounds. The exotic fruit jambolan (Syzygium cumini) has been reported for its appreciable amount of phenolic compounds, especially anthocyanins and antioxidant capacity. Nevertheless, there are hardly any derived jambolan products in the Brazilian market. In addition to that, considerable volumes of fruit are lost due to their high perishability. Dried fruits have become an important fruit market segment due to its weight and volume reduction and decreased transportation and storage costs. Thus, this study evaluated the jambolan pulp submitted to spouted bed drying (JLJ) and lyophilization (JLI), besides assessing the drying impact on the final product. In order to achieve this, the process performance was calculated and compared, as well the physicochemical and bioactive characteristics (moisture, water activity (aw), solubility, hygroscopicity, density, color, structure through images obtained by scanning electron microscopy (SEM), concentration of bioactive (total phenolic compounds (TPC), anthocyanins, proanthocyanidins and ascorbic acid) and antioxidant activity. The results showed drying efficiency higher than 60% for both products and that JLJ group showed higher moisture and water activity when compared to the JLI group (p<0.05). The two types of drying were able to produce stable final product in the microbiological point of view, given that both showed aw < 0.6. The final products exhibited high solubility (73.7 to 81.6%) and low hygroscopicity (9.8 to 11.6%), desirable characteristics for dehydrated foods. Despite the losses caused by drying, the dried jambolan pulp by both methods showed high TPC (468.6 to 534.0 mg GAE/100g dm), anthocyanins (from 491.9 to 673.4 mg. eq. cyanidin-3-glicoside/100g dm), proanthocyanidins (66.9 to 76.6 mg QTE/g dm) and ascorbic acid (156.4 to 186.8 mg/100 g dm). Taken together, the results of this study reveal spouted dried and freeze dried jambolan pulp as bioactive-rich natural products with suitable physicochemical and functional characteristics to be used as food ingredients. The data also demonstrate the drying techniques as rational strategies for the exploitation of the exotic fruit jambolan

Coenzyme Q(10) and its effects in the treatment of neurodegenerative diseases

According to clinical and pre-clinical studies, oxidative stress and its consequences may be the cause or, at least, a contributing factor, to a large number of neurodegenerative diseases. These diseases include common and debilitating disorders, characterized by progressive and irreversible loss of neurons in specific regions of the brain. The most common neurodegenerative diseases are Parkinson's disease, Huntington's disease, Alzheimer's disease and amyotrophic lateral sclerosis. Coenzyme Q(10) (CoQ(10)) has been extensively studied since its discovery in 1957. It is a component of the electron transportation chain and participates in aerobic cellular respiration, generating energy in the form of adenosine triphosphate (ATP). The property of CoQ(10) to act as an antioxidant or a pro-oxidant, suggests that it also plays an important role in the modulation of redox cellular status under physiological and pathological conditions, also performing a role in the ageing process. In several animal models of neurodegenerative diseases, CoQ(10) has shown beneficial effects in reducing disease progression. However, further studies are needed to assess the outcome and effectiveness of CoQ(10) before exposing patients to unnecessary health risks at significant costs.

The benefits of ethanol use for hydrogen production in urban transportation

The purpose of this paper is to describe the benefits of sugar cane ethanol in Brazil, appointing the productivity of this type of fuel based on hectares of plantation, its carbon dioxide cycle and the contribution to reduce the greenhouse effect. In the following step the uses of ethanol for hydrogen production by steam reforming is analyzed and some comparison with natural gas steam reforming is performed. The sugar cane industry in Brazil, in a near future, in the hydrogen era, could be modified according to our purpose, since besides the production of sugar, and ethylic and anhydric alcohol, Brazilian sugar cane industry will also be able to produce biohydrogen.Fuel cells appear like a promising technology for energy generation. Among several technologies in the present, the PEMFC (proton exchange membrane fuel cell) is the most appropriate for vehicles application, because it combines durability, high power density, high efficiency, good response and it works at relatively low temperatures. Besides that it is easy to turn it on and off and it is able to support present vibration in vehicles. A PEMFC's problem is the need of noble catalysts like platinum. Another problem is that CO needs to be in low concentration, requiring a more clean hydrogen to avoid fuel cell deterioration.One part of this paper was developed in Stockholm, where there are some buses within the CUTE (clean urban transport for Europe) project that has been in operation with FC since January 2004. Another part was developed in Guaratingueta, Brazil. Brazil intends to start up a program of FC buses. As conclusion, this paper shows the economical analysis comparing buses moved by fuel cells using hydrogen by different kinds of production. Electrolyze with wind turbine, natural gas steam reforming and ethanol steam reforming. (C) 2009 Elsevier Ltd. All rights reserved.

Primary power distribution systems planning taking into account reliability, operation and expansion costs

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)