Modelling Taylor Rule Uncertainty

In recent years, one has witnessed a widespread attention on the way monetary policy is conducted and in particular on the role of the so-called monetary policy rules. The conventional approach in the literature consists in estimating reaction functions for a monetary authority (the Federal Reserve, in most cases) in which a nominal interest rate, directly or indirectly controlled by that monetary authority, is adjusted in response to deviations of inflation (current or expected) from target and of output from potential. These reaction functions, usually called Taylor rules, following John Taylor's seminal paper published in 1993, match a number of normative principles set forth in the literature for optimal monetary policy. This provides a good reason for the growing prominence of indications given by Taylor rule estimations in debates about current and prospective monetary policy stance. However, they are usually presented as point estimates for the interest rate, giving a sense of accuracy that can be misleading. Typically, no emphasis is placed on the risks of those estimates and, at least to a certain extent, the reader is encouraged to concentrate on an apparently precise central projection, ignoring the wide degree of uncertainty and operational difficulties surrounding the estimates. As in any forecasting exercise, there is uncertainty regarding both the estimated parameters and the way the explanatory variables evolve during the forecasting horizon. Our work presents a methodology to estimate a probability density function for the interest rate resulting from the application of a Taylor rule (the Taylor interest rate) which acknowledges that not only the explanatory variables but also the parameters of the rule are random variables.

A liberalização comercial e seus impactos alocativos na economia brasileira

The objective of this paper is to analyze how the trade liberalization, carried out in the late 80s, and mainly in the early 90s, affected the allocation ofresources in the Brazilian economy. We show herein the trade liberalization schedule and characteristics, and also make an assessment of its influence on the allocation of resources. A comparative advantage indicator was designed, based upon the qualification of manpower, and used to verify whether trade liberalization diverted resources, both in terms ofproduction value and in terms of value added, towards those sectors where the Brazilian economy sports a significant amount of production factors. Thus, we have tested the hypothesis whether the trade liberalization in Brazil fits under the criteria set forth by the Heckscher-Ohlin trade theory

A liberalização comercial e seus impactos alocativos na economia brasileira

The objective of this paper is to analyze how the trade liberalization, carried out in the late 80s, and mainly in the early 90s, affected the allocation ofresources in the Brazilian economy. We show herein the trade liberalization schedule and characteristics, and also make an assessment of its influence on the allocation of resources. A comparative advantage indicator was designed, based upon the qualification of manpower, and used to verify whether trade liberalization diverted resources, both in terms ofproduction value and in terms of value added, towards those sectors where the Brazilian economy sports a significant amount of production factors. Thus, we have tested the hypothesis whether the trade liberalization in Brazil fits under the criteria set forth by the Heckscher-Ohlin trade theory

A quantitative spatial methodology for delimiting historical centers – an application in Guarda, Portugal

A historical center can be defined as the oldest part of a city where a significant part of the building stock dates back to the early stages of urban growth. Historical cen- ters often contain special urban fabrics with unique, historic, social and cultural identity. Owing to this, they have been subject to special urban planning interventions in order not only to protect the existing urban fabric and its originality, but also to revert depopulation and built deterioration processes aiming to make these old centers attractive and functional again. However, in the inter-urban domain, there is a deficit of spatial planning research, and the delimitation of historical centers is a topic that has been under explored. This paper describes a morphological approach for delimiting the historical center of Guarda, Portu- gal. Methodologically, the work uses building stock-age data from eight periods between <1919 to 2011 and is supported by both statistical and spatial analysis. Statistically, the urban evolution of the city was analyzed through threshold values and five novel building indexes. Spatially, the work involved disaggregated GIS analysis to map the evolution of built-up areas and to identify the consolidated urban areas. A sensitivity analysis was also performed to assess the influence of some parameters on the obtained boundary. Results indicated that the historical center of Guarda was consolidated in the 1960s and, since then, has been relatively unchanged. The obtained boundary shows a suitable spatial adjustment considering the consolidated urban area and the official boundary included in the Urban Rehabilitation Area.The authors would like to thank the Polytechnic of Guarda and the Centre for Territory, Environment and Construction (CTAC) at the University of Minho for supporting this research

K-12, university students and robots: an early start

This paper describes a study carried out with K-12 students. This study proposes to understand the motivation of these students in the use of robots in the Project Area curricular unit and whether they want to continue their studies in technology areas. K-12 students participated in the RoboParty® event, where the main task is to assemble and program a robot. In other words, the students, in a simple and entertaining way and supported by qualified tutors, learned how to build a robot. At the end of the academic year, a questionnaire was applied to identify and evaluate the K-12 students' opinions regarding the experience. The students’ reaction to this experience was quite positive as well the direct contact with the university environment.(undefined

An early start in robotics: K-12 case-study

This paper describes a study carried out with K-12 students. This study is focused on understanding the motivation of these students on the use of robots in the Project Area curricular unit and to understand whether they want to continue their studies in technology areas. K-12 students participated in the RoboParty® event, where the main task is to assemble and program a robot. In other words, the students, in a simple and entertaining way and guided by qualified tutors, learned how to build a robot. At the end of the academic year, a questionnaire was applied to identify and evaluate the K-12 students' opinions regarding the experience. The students’ reaction to this experience as well to the direct contact with the university environment was quite positive.Fundação para a Ciência e a Tecnologia (FCT

Regenerated bacterial cellulose fibres

The global shortage of cotton for textile production, forces the exploitation of forests´ lignocellulosic biomass to produce man-made cellulosic fibres (MMCF). This has a considerable environmental impact, pressing the textile industry to search for new sustainable materials and to the development of sustainable recycling processes. Bacterial cellulose (BC), an exopolysaccharide produced by fermentation, could represent such an alternative. In particular, we tested the possibility of improving the mechanical properties of cellulose filaments with a low degree of polymerization (DP) by combining them with high DP from BC, so far exploited to little extent in the textile field. In this work, BC with different degrees of polymerization (DPcuaxam) (BCneat: 927; BCdep:634 and BCblend: 814) were dissolved in N-methylmorpholine-N-oxide (NMMO) and their spinnability was studied. The rheological behaviour of the dopes was assessed and all were found to be spinnable, at suitable concentrations (BCneat:9.0%; BCdep:12.2%; BCblend:10.5%). A continuous spinning was obtained and the resulting filaments offered similar mechanical performance to those of Lyocell. Further, the blending of BC pulps with different DPs (BCblend, obtained by combining BCneat and BCdep) allowed the production of fibres with higher stiffness (breaking tenacity 56.4 CN.tex1) and lower elongation (8.29%), as compared to samples with more homogeneous size distribution (neat BC and depolymerized BC).info:eu-repo/semantics/publishedVersio

Nanocellulose bio-based composites for food packaging

The food industry is increasingly demanding advanced and eco-friendly sustainable packaging materials with improved physical, mechanical and barrier properties. The currently used materials are synthetic and non-degradable, therefore raising environmental concerns. Consequently, research efforts have been made in recent years towards the development of bio-based sustainable packaging materials. In this review, the potential of nanocelluloses as nanofillers or as coatings for the development of bio-based nanocomposites is discussed, namely: (i) the physico-chemical interaction of nanocellulose with the adjacent polymeric phase, (ii) the effect of nanocellulose modification/functionalization on the final properties of the composites, (iii) the production methods for such composites, and (iv) the effect of nanocellulose on the overall migration, toxicity, and the potential risk to human health. Lastly, the technology readiness level of nanocellulose and nanocellulose based composites for the market of food packaging is discussed.This study was supported by the Portuguese Foundation for Science and Technology (FCT) under the scope of the strategic funding of UID/BIO/04469/2013 unit and COMPETE 2020 (POCI-01-0145-FEDER-006684) and BioTecNorte operation (NORTE-01-0145-FEDER-000004) funded by the European Regional Development Fund under the scope of Norte2020 - Programa Operacional Regional do Norte.” The authors also acknowledge the financial support of the FCT (ESF) through the grant given to Francisco A.G.S. Silva (SFRH/BD/146375/2019).info:eu-repo/semantics/publishedVersio

Co-exposure of the organic nanomaterial fullerene C60 with benzo[a]pyrene in Danio rerio (zebrafish) hepatocytes: Evidence of toxicological interactions

Compounds from the nanotechnology industry, such as carbon-based nanomaterials, are strong candidates to contaminate aquatic environments because their production and disposal have exponentially grown in a few years. Previous evidence shows that fullerene C60, a carbon nanomaterial, can facilitate the intake of metals or PAHs both in vivo and in vitro, potentially amplifying the deleterious effects of these toxicants in organisms. The present work aimed to investigate the effects of fullerene C60 in a Danio rerio (zebrafish) hepatocyte cell lineage exposed to benzo[a]pyrene (BaP) in terms of cell viability, oxidative stress parameters and BaP intracellular accumulation. Additionally, a computational docking was performed to investigate the interaction of the fullerene C60 molecule with the detoxificatory and antioxidant enzyme πGST. Fullerene C60 provoked a significant (p 0.05) alter the enzyme activity when added to GST purified extracts from the zebrafish hepatocyte cells. These results show that fullerene C60 can increase the intake of BaP into the cells, decreasing cell viability and impairing the detoxificatory response by phase II enzymes, such as GST, and this latter effect should be occurring at the transcriptional level.Fil: Ribas Ferreira, Josencler L.. Universidade Federal do Rio Grande do Sul; BrasilFil: Lonné, María Noelia. Universidad de Buenos Aires. Facultad de Ciencias Exactas y Naturales; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaFil: França, Thiago A.. Universidade Federal do Rio Grande do Sul; BrasilFil: Maximilla, Naiana R.. Universidade Federal do Rio Grande do Sul; BrasilFil: Lugokenski, Thiago H.. Universidade Federal de Santa Maria. Departamento de Química; BrasilFil: Costa, Patrícia G.. Universidade Federal do Rio Grande do Sul; BrasilFil: Fillmann, Gilberto. Universidade Federal do Rio Grande do Sul; BrasilFil: Soares, Félix A.. Universidade Federal de Santa Maria. Departamento de Química; BrasilFil: de la Torre, Fernando Roman. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina. Universidad Nacional de Luján. Departamento de Ciencias Básicas; ArgentinaFil: Monserrat, José María. Universidade Federal do Rio Grande do Sul; Brasil. Instituto Nacional de Ciência e Tecnologia de Nanomateriais de Carbono; Brasi