Pré-ipo capital infusion and underwriting in Brazil: a study on conflicts of interests in the universal banking system

Mercados financeiros e finanças corporativas

Tayloring Brazil: a system dynamics model for monetary policy feedback

The thesis introduces a system dynamics Taylor rule model of new Keynesian nature for monetary policy feedback in Brazil. The nonlinear Taylor rule for interest rate changes con-siders gaps and dynamics of GDP growth and inflation. The model closely tracks the 2004 to 2011 business cycle and outlines the endogenous feedback between the real interest rate, GDP growth and inflation. The model identifies a high degree of endogenous feedback for monetary policy and inflation, while GDP growth remains highly exposed to exogenous eco-nomic conditions. The results also show that the majority of the monetary policy moves during the sample period was related to GDP growth, despite higher coefficients of inflation parameters in the Taylor rule. This observation challenges the intuition that inflation target-ing leads to a dominance of monetary policy moves with respect to inflation. Furthermore, the results suggest that backward looking price-setting with respect to GDP growth has been the dominant driver of inflation. Moreover, simulation exercises highlight the effects of the new BCB strategy initiated in August 2011 and also consider recession and inflation avoid-ance versions of the Taylor rule. In methodological terms, the Taylor rule model highlights the advantages of system dynamics with respect to nonlinear policies and to the stock-and-flow approach. In total, the strong historical fit and some counterintuitive observations of the Taylor rule model call for an application of the model to other economies.

Analysis of the four wave mixing effect (FWM) in a dispersion decreasing fiber (DDF) for a WDM system

We did a numerical investigation of the propagation of short light pulses in the region of 1.55 mu m and the conversion efficiency (CE) for the four wave mixing generation (FWM) of ordinary and dispersion decreasing fibers for use in wavelength division multiplexing (WDM) systems, Our simulations studies three different profiles, linear, hyperbolic. and constant, One conclude that for all the profiles there is decrease of the conversion efficiency with the increase in the channel separation. The hyperbolic profile present a higher efficiency of around 1000 above in magnitude compared with the others profiles at 0.2 nm of channel separation. We calculate the conversion efficiency versus the fiber length for the three profiles. The conversion efficiency for the hyperbolic profile is higher when compared to the constant and linear profiles. The other interesting point of the hyperbolic profile is that the increase of the CE in the beginning of the fiber does not show my oscillation in the CE value (log eta), which was observed for the constant and linear profiles. For all the profiles there is an increase of the conversion efficiency with the increase of the pump power. The compression factor C-i for the generated FWM signal at omega(3) was measured along the DDF's and the constant profile fibers. One can conclude that with the use of decreasing dispersion profile (DDF) fibers one can have a control of the (CE) conversion efficiency and the compression factor of the four wave mixing (FWM) generation in WDM systems. (c) 2005 Elsevier B.V. All rights reserved.

Host-guest system of 4-nerolidylcatechol in 2-hydroxypropyl-beta-cyclodextrin: preparation, characterization and molecular modeling

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Economic valuation of collecting water to billing in the aspersion irrigated bean in the no tillage system and conventional crop

The law's project n.676/2000 approved the collecting of billing water for farmers in a maximum foreseen value of US$ 0.01 m(-3) of extracted water in the São Paulo State. As the irrigated agriculture is the activity that consumes more water, the farmers profitability can be affected. This work was to analyze the economic impact of billing water in the aspersion irrigated bean crop to consider the system of conventional production and no tillage system in the Paranapanema municipal district, São Paulo State, Brazil. The indicators used to analyze the economic results were unit variable cost, market price and unit profitability. The results showed that for the aspersion irrigated bean crop in conventional system, the participation of cost to the recourse water in cost variable totality was of 2.5% and in no tillage system the participation was of 2.2%. The fall of profitability just the billing water in conventional crop system and in no tillage system was US$ 0.01 kg(-1).

g-acceleration of gravity: its measurement from the shape of water by using a computerized rotational system

This paper proposes a different experimental setup compared with the traditional ones, in order to determine the acceleration of gravity, which is carried out by using a fluid at a constant rotation. A computerized rotational system-by using a data acquisition system with specific software, a power amplifier and a rotary motion sensor-is employed in order to evaluate the angular velocity and g. An equation to determine g is inferred from fluid mechanics. For this purpose, the fluid's parabolic shape inside a cylindrical receptacle is considered using a rotational movement.

Electricity, hot water and cold water production from biomass. Energetic and economical analysis of the compact system of cogeneration run with woodgas from a small downdraft gasifier

Wood gasification technologies to convert the biomass into fuel gas stand out. on the other hand, producing electrical energy from stationary engine is widely spread, and its application in rural communities where the electrical network doesn't exist is very required. The recovery of exhaust gases (engine) is a possibility that makes the system attractive when compared with the same components used to obtain individual heat such as electric power. This paper presents an energetic alternative to adapt a fixed bed gasifier with a compact cogeneration system in order to cover electrical and thermal demands in a rural area and showing an energy solution for small social communities using renewable fuels. Therefore, an energetic and economical analysis from a cogeneration system producing electric energy, hot and cold water, using wooden gas as fuel from a small-sized gasifier was calculated. The energy balance that includes the energy efficiency (electric generation as well as hot and cold water system; performance coefficient and the heat exchanger, among other items), was calculated. Considering the annual interest rates and the amortization periods, the costs of production of electrical energy, hot and cold water were calculated, taking into account the investment, the operation and the maintenance cost of the equipments. Crown Copyright (C) 2010 Published by Elsevier Ltd. All rights reserved.

Hydrodynamic characterization and performance evaluation of an aerobic three phase airlift fluidized bed reactor in a recirculation aquaculture system for Nile Tilapia production

The hydrodynamic characterization and the performance evaluation of an aerobic three phase fluidized bed reactor in wastewater fish culture treatment are presented in this report. The objective of this study was to evaluate the organic matter, nitrogen and phosphorous removal efficiency in a physical and biological wastewater treatment system of an intensive Nile Tilapia laboratory production with recirculation. The treatment system comprised of a conventional sedimentation basin operated at a hydraulic detention time HDT of 2.94 h and an aerobic three phase airlift fluidized bed reactor AAFBR operated at an 11.9 min HDT. Granular activated carbon was used as support media with density of 1.64 g/cm(3) and effective size of 0.34 mm in an 80 g/L constant concentration. Mean removal efficiencies of BOD, COD, phosphorous, total ammonia nitrogen and total nitrogen were 47%, 77%, 38%, 27% and 24%, respectively. The evaluated system proved an effective alternative for water reuse in the recirculation system capable of maintaining water quality characteristics within the recommended values for fish farming and met the Brazilian standards for final effluent discharges with exception of phosphorous values. (C) 2011 Elsevier B.V. All rights reserved.

Effect of remifentanil on requirements for propofol administered by use of a target-controlled infusion system for maintaining anesthesia in dogs

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

Nebular gas drag and co-orbital system dynamics

Aims. We study trajectories of planetesimals whose orbits decay due to gas drag in a primordial solar nebula and are perturbed by the gravity of the secondary body on an eccentric orbit whose mass ratio takes values from mu(2) = 10(-7) to mu(2) = 10(-3) increasing ten times at each step. Each planetesimal ultimately suffers one of the three possible fates: (1) trapping in a mean motion resonance with the secondary body; (2) collision with the secondary body and consequent increase of its mass; or (3) diffusion after crossing the orbit of the secondary body.Methods. We take the Burlirsh-Stoer numerical algorithm in order to integrate the Newtonian equations of the planar, elliptical restricted three-body problem with the secondary body and the planetesimal orbiting the primary. It is assumed that there is no interaction among planetesimals, and also that the gas does not affect the orbit of the secondary body.Results. The results show that the optimal value of the gas drag constant k for the 1: 1 resonance is between 0.9 and 1.25, representing a meter size planetesimal for each AU of orbital radius. In this study, the conditions of the gas drag are such that in theory, L4 no longer exists in the circular case for a critical value of k that defines a limit size of the planetesimal, but for a secondary body with an eccentricity larger than 0.05 when mu(2) = 10(-6), it reappears. The decrease of the cutoff collision radius increase the difusions but does not affect the distribution of trapping. The contribution to the mass accretion of the secondary body is over 40% with a collision radius 0.05R(Hill) and less than 15% with 0.005R(Hill) for mu(2) = 10(-7). The trappings no longer occur when the drag constant k reachs 30. That means that the size limit of planetesimal trapping is 0.2 m per AU of orbital radius. In most cases, this accretion occurs for a weak gas drag and small secondary eccentricity. The diffusions represent most of the simulations showing that gas drag is an efficient process in scattering planetesimals and that the trapping of planetesimals in the 1: 1 resonance is a less probable fate. These results depend on the specific drag force chosen.

Statistical properties of a dissipative kicked system: Critical exponents and scaling invariance

A new universal empirical function that depends on a single critical exponent (acceleration exponent) is proposed to describe the scaling behavior in a dissipative kicked rotator. The scaling formalism is used to describe two regimes of dissipation: (i) strong dissipation and (ii) weak dissipation. For case (i) the model exhibits a route to chaos known as period doubling and the Feigenbaum constant along the bifurcations is obtained. When weak dissipation is considered the average action as well as its standard deviation are described using scaling arguments with critical exponents. The universal empirical function describes remarkably well a phase transition from limited to unlimited growth of the average action. (C) 2012 Elsevier B.V. All rights reserved.

Phase-Locked loops lock-in range in Frequency Modulated-Atomic Force Microscope nonlinear control system

Since the mid 1980s the Atomic Force Microscope is one the most powerful tools to perform surface investigation, and since 1995 Non-Contact AFM achieved true atomic resolution. The Frequency-Modulated Atomic Force Microscope (FM-AFM) operates in the dynamic mode, which means that the control system of the FM-AFM must force the micro-cantilever to oscillate with constant amplitude and frequency. However, tip-sample interaction forces cause modulations in the microcantilever motion. A Phase-Locked loop (PLL) is used to demodulate the tip-sample interaction forces from the microcantilever motion. The demodulated signal is used as the feedback signal to the control system, and to generate both topographic and dissipation images. As a consequence, a proper design of the PLL is vital to the FM-AFM performance. In this work, using bifurcation analysis, the lock-in range of the PLL is determined as a function of the frequency shift (Q) of the microcantilever and of the other design parameters, providing a technique to properly design the PLL in the FM-AFM system. (C) 2011 Elsevier B.V. All rights reserved.

3-BOSON SYSTEM WITH ABSORPTIVE SHORT-RANGE POTENTIAL

We study the properties of the three-boson system with absorption, through a short range interaction in the limit where the range reduces to zero. We derive an analytic expression for the three-boson width that relates it to the real part of the three-boson energy, two-boson binding energy and decay constant. One of the characteristics of this expression is that, in this limit, the ratio between the width and the three-boson binding energy is proportional to the range.

Neodymium biosorption from acidic solutions in batch system

Biosorption of neodymium in batch experiments took similar to 2 h to achieve the equilibrium biosorbent-metal for all microorganisms tested. The best biosorption coefficient at a constant pH value of 1.5 was obtained using the microalgae Monoraphidium sp. (1521 mg g(-1) cell), followed by Bakers' yeast (313 mg g(-1) cell), Penicillium sp. (178 mg g(-1) cell), and activated carbon (61 mg g(-1) cell). When compared to the biosorption of other metals, these results pointed out to the application of biosorption in neodymium recovery from acidic solutions. (C) 2000 Elsevier B.V. Ltd. All rights reserved.

Synthesis and properties of branched polyethylene/high-density polyethylene blends using a homogeneous binary catalyst system composed of early and late transition metal complexes

Branched polyethylene/high-density polyethylene blends (BPE/HDPE) with a wide range of molecular weights, melt flow indexes (MFI), and intrinsic viscosity were prepared using the homogeneous binary catalyst system composed by Ni(alpha-diimine)Cl-2 (1) (alpha-diimine = 1,4-bis(2,6-diisopropylphenyl)-acenaphthenediimine) and {Tp(Ms*)} TiCl3 (2) (Tp(Ms*)=hydridobis(3-mesitylpyrazol-1-yl)(5-mesityl-pyrazol-1-yl)) activated with MAO and/or TIBA in hexane at two different polymerization temperatures (30 and 55 degreesC) and by varying the nickel loading molar fraction (x(Ni)). At all Temperatures, a non-linear correlation between the x(Ni) and the productivity was observed, suggesting the occurrence of a synergistic effect between the nickel and the titanium catalyst precursors, which is more pronounced at 55 degreesC. The molecular weight of the BPE/HDPE blends considerably decreases with increasing Al/M molar ratio. The melt flow indexes (MFI) and intrinsic viscosities (eta) are strongly affected by x(Ni), but the melting temperatures are nearly constant, 132 +/- 3 degreesC. Dynamic mechanical thermal analysis (DMTA) shows the formation of different polymeric materials where the stiffness vanes according, to the x(Ni) and temperature used in the polymerization reaction. The surface morphology of the BPE/HDPE blends studied by scanning electron microscopy (SEM) revealed a low miscibility between the PE phases resulting in the formation of a sandwich structure after etching with o-xylene.