Capital Flows and Destabilizing Policy in Latin America

Motivated by the excessive macroeconomic volatility experienced in Latin America, we examine the possible contribution of monetary and fiscal policies to this outcome. In contrast with previous literature, we consider the possible simultaneity between policy and GDP growth by using GMM VAR econometric techniques. Additionally, we explore the direct impact international capital inflows have on these policies. Our evidence suggests that for the group of countries we consider, most practice destabilizing fiscal and monetary policy, and capital inflow consistently influences policy in a pro-cyclical direction.Fiscal and Monetary Policies, Capital Flows, Latin America

Finance and the Business Cycle: a Kalman Filter Approach with Markov Switching

This paper combines two popular econometric tools, the dynamic factor model and the Markov-Switching model, to consider three segments of the financial system- the stock market, debt, and money- and their contribution to US business cycles over the past four decades. The dynamic factor model identifies a composite factor index for each financial segment, and using Markov-switching models by Hamilton (1989) and Filardo (1994), this paper then estimates the effect of each segment index on business cycle behaviour. This reexamination of the finance-business cycle link provides results that prove strongest for the effect of stock market movements on business cycles.

Pullback attractors for a singularly nonautonomous plate equation

We consider the family of singularly nonautonomous plate equation with structural damping $$u_{tt} + a(t,x)u_{t} + (- \Delta) u_{t} + (-\Delta)^{2} u + \lambda u = f(u),$$ in a bounded domain $\Omega \subset \R^n$, with Navier boundary conditions. When the nonlinearity $f$ is dissipative we show that this problem is globally well posed in $H^2_0(\Omega) \times L^2(\Omega)$ and has a family of pullback attractors which is upper-semicontinuous under small perturbations of the damping $a$

High frequency in-core acousto-optic modulation of a suspended core optical fibre

The confinement of high frequency acoustic waves inside a suspended core fibre (SCF) is numerically investigated for the first time. A 500 μm long acoustic cavity, based on a four-hole SCF, is designed, simulated and evaluated by using the finite element method. The cavity is acoustically excited in the frequency range of 50 - 56 MHz and the induced displacements are integrated along the fibre. A standard single mode fibre is simulated under the same conditions for comparison. The results show strong Lamb acoustic modes oscillating in the silica bridges and overlapping in the SCF core at the resonance of 52.84 MHz. The induced displacement achieves a maximum in the core centre decaying to an almost null value in the cladding. The acoustic wave concentration in the SCF core is 13 times higher compared to the standard fibre, indicating a promising solution to overcome the frequency limitation of the current all-fibre acousto-optic devices. The modulation efficiency is increased without reducing the fibre diameter, making the devices more stable, fast and suitable to modulate all-fibre lasers

The Effect of Adverse Oil Price Shocks on Monetary Policy and Output Using a Dynamic Small Open Economy General Equilibrium Model With Staggered Price for Brazil

The aim of the present research is to use a model economy built for Brazil, based on an optimizing dynamic general equilibrium model, in order to perform numerical simulations to derive the ability of the artificial economy to explain the impact of monetary policy interventions on Brazilian short run economic performance in terms of the inflation rate, output gap, interest rate and level of economic activity in the face of an adverse oil shock. It is an extension of Bugarin et al. (2005) concentrating on the consequence of energy price increases, facing different monetary policy rules. Following Hall (1988 e 1990) and Finn (2000) it is considered that an increase in energy prices acts like a negative productivity shock. The model provides an accessible description of an artificial economy with a tractable micro-founded dynamic setting with forward looking rational agents in a small open economy with a staggered pricing mechanism that generates inflation inertia and recessionary disinflations. Alternative specification of monetary reaction functions are introduced into the model economy in order to perform a sensitivity analysis of derived impulse responses to those interventions facing the negative productivity shock. The preliminary results suggest that the introduction of habit persistence into the consumption hypothesis does not make much difference. However the introduction of different monetary reaction functions does alter the impulse response of output, inflation rate, and nominal interest rate. A common result is the decline in potential output for all models. Additionally, the only case where a reduction in the output gap is observed is when using the Taylor rule that takes into consideration the output gap and past interest rates with high persistence.

Crania, bodies, and measurements : formation of the collection of anthropometric instruments at the Museu Nacional in the late nineteenth/early twentieth century

Aborda o processo de constituição do acervo de instrumentos científicos do Setor de Antropologia Biológica (antiga Divisão de Antropologia Física) do Museu Nacional. Prioriza-se a análise da coleção de instrumentos de antropometria. Pensar o instrumental de medição antropométrica relacionando-o com as demais coleções do acervo de antropologia biológica e com a atuação dos pesquisadores do Museu Nacional, em seus respectivos contextos sociopolíticos e acadêmicos, oferece uma visão privilegiada do panorama científico na passagem do século XIX para o XX. _______________________________________________________________________________ ABSTRACTAnalyzes the formation of the collection of scientific instruments at the Museu Nacional’s Biological Anthropology Sector (previously known as the Physical Anthropology Division), Brazil. It focuses on the instruments used for anthropometric measurements. By drawing relations between this collection and other of the institution’s biological anthropology collections, as well as the activities of Museu Nacional researchers within their sociopolitical and academic contexts, we arrive at a privileged view of the scientific methods and theories in use in the final decades of the nineteenth century and beginning of the twentieth

Efficiency of brazilian public and private water utilities

Este artigo compara eficiências custo de empresas publicas e privadas brasileiras de oferta de água. Para mensurar a eficiência faz-se uso de um modelo de fronteira estocástica definido por meio de uma função custo na família Cobb-Douglas. A especificação da fronteira inclui efeitos técnicos. Estima-se o modelo pelo método de máxima verossimilhança para um painel de firmas brasileiras observadas no período 2002- 2004. Os resultados estatísticos indicam evidência de que as firmas públicas são mais eficientes, embora a diferença em eficiência esteja declinando no período analisado. De um modo geral, o sistema de oferta de água e saneamento está se tornando mais eficiente ao longo do tempo. _________________________________________________________________________________ ABSTRACTThis paper compares cost efficiencies of Brazilian public and private companies of water supply. To measure efficiency a Cobb-Douglas stochastic cost frontier model including technical effects is estimated by maximum likelihood to a panel of Brazilian firms for the period 2002 - 2004. The statistical results indicate that there is evidence that public firms are more efficient although the difference in efficiency is declining over time. Overall the system of water and sewerage supply is becoming more efficient over time

A potencialidade de discursos no Instagram: uma análise netnográfica da página “O Sentinela Oficial”

As mídias digitais e recursos tecnológicos permeiam os processos de comunicação e a vida social no atual contexto. Nesse sentido as redes sociais se configuram como espaços onde circulam discursos e são produzidos significados, que estão imbricados em relações de poder. Das muitas redes sociais, o Instagram destaca-se, sobretudo, como local de construção de conhecimento e divulgação de ideias, representando um ambiente onde emergem pedagogias culturais, produzindo novos modos de ser e viver na contemporaneidade. Desta forma, cabe investigar os discursos gestados nessa plataforma. Assim, esse artigo propõe-se, a partir do campo dos Estudos Culturais, analisar a página de Instagram “O Sentinela Oficial”, que se autodenomina como “Mídia crítica Independente”, e onde circulam discursos alternativos e revisionistas, tanto nas publicações da página, quanto nos comentários feitos por seus seguidores. Para efetuar as análise propostas, a metodologia empreendida foi uma netnografia, no intuito de realizar uma imersão na página e assim, mapear as práticas discursivas que emergem neste ambiente digital. O artigo analisa o potencial destes discursos como pedagogias culturais e está fundamentado nos conceitos de discurso e pedagogias culturais, encontrando suporte teórico em autores como Henry Giroux, Robert Kozinets e Michel Foucault

Flour fortification with grape must for nutritional and health benefits

Currently, dietary health natural supplements have increasingly used in the prevention and treatment of chronic disorders. Moreover, deficiencies of macro and micronutrients, (vitamins and minerals), and non-nutrients (polyphenolics) have mainly cause several illnesses, especially in children and women worldwide. World organizations have focused great efforts to address these shortcomings and improve the health of the populations. Grape must, or commonly known as grape must juice, becomes a valued ingredient with nutritional and chemical qualities already recognized. Four portuguese grapevine must (Touriga Nacional; Touriga Franca; Tinta Roriz and Vinha Velha) were analysed and results of phytochemical screening revealed that Touriga Nacional grape must contains a number of medicinally active secondary metabolites, with highest total phenolic and flavonoids contents (325.2 mg GAE/L and 218.3 mg CE/L, respectively). In contrast, Tinta Roriz exhibited the lowest values (144.4 mg GAE/L and 18.3 mg CE/L, respectively). Natural pigments were also investigated, with significantly different levels of anthocyanins in all four portuguese grapevine must: Touriga Nacional (23%), Touriga Franca (63%), Tinta Roriz (70%), and Vinha Velha (19%). Apart from the sensory attributes that grape must can impart in commercial flours, the presence of non-nutrient compounds (polyphenols) is an asset in the development of new functional foods, namely in flours for infant formulations, preteens, teens, adult and athletes.info:eu-repo/semantics/publishedVersio