Targets and Inflation Dynamics

Brazil has experienced crucial changes in its inflation process since the adoption of inflation targeting in mid 1999. This article addresses changes in the analytical framework employed to track the inflation dynamics, specifically the relevance of an explicit target for inflation. A New-Keynesian Phillips curve (NKPC) is derived incorporating indexation not only to past inflation but also to inflation targets, generalizing the Woodford (2003) hybrid curve. In our modeling, firms that do not optimally set their prices in a given period adjust them only by indexing their previous prices to a weighted average of the inflation target and lagged inflation. In such a framework, the impact of inflation targets on agents' decisions regarding the supply side can be analytically measured by the parameter associated to the inflation target. It is shown that inflation target affects the welfare-based monetary policy objective function by penalizing deviations of actual inflation from target instead of from zero. This result establishes the micro foundation basis for ad-hoc loss functions as indicated in traditional literature. Therefore, the inflation target also affects the optimal target criterion. We also present a microfounded specification to model inflation expectations, and conclude that when firms attribute a high weight to the government's inflation target when setting their own prices, exchange rate and demand shocks are unable to alter significantly inflation expectations. Such a result gives some light to empirical ad hoc assessment conducted in traditional literature. Our empirical evidence shows that even after major shocks, the target ability of anchoring inflation has been restored. Although not formally tested, such a fact followed the monetary authorities' firm commitment to meet the inflation targets, reinforced by the government's necessary support through a consistent fiscal policy.

Empirical Analysis of the Determinants of Marketing Contract Structures

Marketing,

Use of Air Arthrograms to Aid in Joint Distraction During Hip Arthroscopic Surgery Decreases Postoperative Pain and Opioid Requirements.

BackgroundPositive-pressure air arthrography and venting of the hip capsule are techniques used to decrease the traction forces needed for joint distraction during hip arthroscopic surgery. Little is known about the effects that these techniques have on postoperative pain.HypothesisPositive-pressure air arthrography and venting during hip arthroscopic surgery will decrease patient-reported pain and narcotic requirements in the acute postoperative setting.Study designCohort study; Level of evidence, 3.MethodsA retrospective cohort analysis was conducted to analyze 35 patients who underwent positive-pressure air arthrography and venting to aid joint distraction during hip arthroscopic surgery versus a group with similar demographics, pathologies, and treatments who did not undergo air arthrography. Numeric pain rating scale (NPRS) scores and medication administration including narcotic and nonnarcotic analgesia in the postanesthesia care unit (PACU) were tracked and compared.ResultsThe maximum (7.17 vs 4.97, respectively), minimum (2.43 vs 1.09, respectively), and mean (5.15 vs 3.11, respectively) NPRS scores were all higher in the control group compared with the air arthrogram group (P < .001, P = .007, and P < .001, respectively). The administration of oral morphine equivalents (OMEs) during the PACU stay was significantly lower in the air arthrogram group, with a mean of 36.75 ± 11.37 OMEs, compared with 44.53 ± 16.06 OMEs in the control group (P = .023). There was no difference in postoperative nonopioid medications, such as ketorolac or acetaminophen, given between groups.ConclusionPatients undergoing hip arthroscopic surgery with air arthrography and venting used to aid distraction had significantly less postoperative pain and required a lower total dosage of opioids during their PACU stay when compared with patients who underwent hip arthroscopic surgery without air arthrography

Classification of life by the mechanism of genome size evolution

The classification of life should be based upon the fundamental mechanism in the evolution of life. We found that the global relationships among species should be circular phylogeny, which is quite different from the common sense based upon phylogenetic trees. The genealogical circles can be observed clearly according to the analysis of protein length distributions of contemporary species. Thus, we suggest that domains can be defined by distinguished phylogenetic circles, which are global and stable characteristics of living systems. The mechanism in genome size evolution has been clarified; hence main component questions on C-value enigma can be explained. According to the correlations and quasi-periodicity of protein length distributions, we can also classify life into three domains.Comment: 53 pages, 9 figures, 2 table

Método de avaliação de manifestações patológicas pós-restaurações em prédios históricos

A Cidade de Pelotas/RS Brasil, é reconhecida pelo seu significativo patrimônio histórico e arquitetônico. Nos últimos anos, muitas iniciativas foram tomadas para resgatar, preservar e valorizar esta arquitetura. Em 2007, a Universidade Federal de Pelotas incorporou à sua área o prédio que pertencia a Família Assumpção, restaurando-o assim como recuperou a edificação que abrigou o antigo Lyceu Rio-Grandense de Agronomia e Veterinária, que possuem elevado valor cultural da cidade. As restaurações destes prédios envolveram a recuperação de estruturas, coberturas, fachadas, esquadrias, forros, pisos, reforço e consolidação de paredes, elementos de ornamentação tais como molduras, pilastras e frontões, adequação de instalações elétricas, paisagismos e adaptações de acessos para pessoas portadoras de deficiência motora. Após algum tempo da entrega das obras e utilização desses espaços com os fins propostos em projeto percebem-se indícios de manifestações patológicas. A pesquisa tem como objetivo analisar e diagnosticar as manifestações patológicas desses prédios de uso público, pertencentes ao Centro Histórico de Pelotas, que sofreram processo de restauração nos últimos anos. Um levantamento cadastral será realizado, resgatando projeto arquitetônico e histórico dos prédios para identificação das intervenções que os edifícios sofreram ao longo dos anos e dos dados referentes ao recente processo de restauração, tais como técnicas utilizadas e materiais empregados, bem como identificar e mapear as patologias existentes, que se manifestaram após a restauração dos mesmos. Esse levantamento será realizado com observação in loco das anomalias, identificação, mapeamento e registro fotográfico, além de estabelecer as possíveis causas, diagnosticar e definir a terapia mais adequada para cada ocorrência. No processo de identificação das anomalias podemos destacar a grande concentração de eflorescência encontrada no prédio do antigo Lyceu Rio-Grandense de Agronomia e Veterinária, assim como a grande variedade de anomalias encontradas no prédio da Família Assumpção como, por exemplo, trincas, fissuras, descolamento de revestimento, manchas nos diferentes revestimentos, umidades, entre outras, as quais serão verificadas as suas possíveis causas. O presente trabalho apresenta a metodologia adotada e alguns resultados parciais, visto que a pesquisa está em andamento.Tópico 6: Patrimonio Urbano de los siglos XVIII al XX. Técnicas de Limpieza y de Conservación

Parameter Estimation with Mixed-State Quantum Computation

We present a quantum algorithm to estimate parameters at the quantum metrology limit using deterministic quantum computation with one bit. When the interactions occurring in a quantum system are described by a Hamiltonian $H= \theta H_0$, we estimate $\theta$ by zooming in on previous estimations and by implementing an adaptive Bayesian procedure. The final result of the algorithm is an updated estimation of $\theta$ whose variance has been decreased in proportion to the time of evolution under H. For the problem of estimating several parameters, we implement dynamical-decoupling techniques and use the results of single parameter estimation. The cases of discrete-time evolution and reference-frame alignment are also discussed within the adaptive approach.Comment: 12 pages. Improved introduction and technical details moved to Appendi

Euler angles for G2

We provide a simple parametrization for the group G2, which is analogous to the Euler parametrization for SU(2). We show how to obtain the general element of the group in a form emphasizing the structure of the fibration of G2 with fiber SO(4) and base H, the variety of quaternionic subalgebras of octonions. In particular this allows us to obtain a simple expression for the Haar measure on G2. Moreover, as a by-product it yields a concrete realization and an Einstein metric for H.Comment: 21 pages, 2 figures, some misprints correcte

Bulk versus brane running couplings

A simplified higher dimensional Randall-Sundrum-like model in 6 dimensions is considered. It has been observed previously by Goldberger and Wise that in such a self-interacting scalar theory on the bulk with a conical singularity there is mixing of renormalization of 4d brane couplings with that of the bulk couplings. We study the influence of the running bulk couplings on the running of the 4d brane couplings. We find that bulk quantum effects may completely alter the running of brane couplings. In particular, the structure of the Landau pole may be drastically altered and non-asymptotically free running may turn into asymptotically safe (or free) behavior.Comment: 11 pages, no figures, REVTeX

Coexisting ordinary elasticity and superfluidity in a model of defect-free supersolid

We present the mechanics of a model of supersolid in the frame of the Gross-Pitaevskii equation at $T=0K$ that do not require defects nor vacancies. A set of coupled nonlinear partial differential equations plus boundary conditions is derived. The mechanical equilibrium is studied under external constrains as steady rotation or external stress. Our model displays a paradoxical behavior: the existence of a non classical rotational inertia fraction in the limit of small rotation speed and no superflow under small (but finite) stress nor external force. The only matter flow for finite stress is due to plasticity.Comment: 6 pages, 2 figure