Optimal Interest Rate Policy in a Small Open Economy

Using an optimizing model we derive the optimal monetary and exchange rate policy for a small stochastic open economy with imperfect competition and short run price rigidity. The optimal monetary policy has an exact closed-form solution and is obtained using the utility function of the representative home agent as welfare criterion. The optimal policy depends on the source of stochastic disturbances affecting the economy, much as in the literature pioneered by Poole (1970). Optimal monetary policy reacts to domestic and foreign disturbances. If the intertemporal elasticity of substitution in consumption is less than one, as is likely to be the case empirically, the optimal exchange rate policy implies a dirty float: interest rate shocks from abroad are met partially by adjusting home interest rates, and partially by allowing the exchange rate to move. This optimal pattern may help rationalize the observed fear of floating.

Alternative Monetary Rules in the Open-Economy: a Welfare-Based Approach

Using an optimizing model we compare alternative monetary policy rules and exchange rate regimes for a small stochastic open economy with imperfect competition and short run price rigidity. The criteria to choose among rules and regimes are obtained using a welfare criterion derived from the utility function of the representative agent. The main findings of this paper are that, depending on what shocks affect this economy, the effects of inflation targeting on output and inflation volatility depend crucially on the exchange rate regime and the inflation index being targeted. With regard to the exchange rate, we find that the loss in agents’ welfare is much higher under managed exchange rates than under flexible rates in presence of real shocks, while for nominal shocks the reverse is true. As far as the definition of inflation targeting index is concerned, domestic inflation appears to outperform the CPI. Finally, flexible inflation targeting is welfare superior to strict targeting.

The Politics of Judicial Elections, 2019-20

In 2019–20, state Supreme Court elections attracted more money — including more spending by special interests — than any judicial election cycle in history, posing a serious threat to the appearance and reality of justice across the country.Thirty-eight states use elections to choose the justices who sit on their highest courts, which typically have the final word in interpreting state law. Over the past two decades, the Brennan Center has tracked and documented more than $500 million in spending in these races.This unparalleled spending speaks to the power and influence of state supreme courts, which often fly below the public's radar. The current political moment only heightens the stakes. In 2020 alone, state supreme courts ruled on everything from ballot access and challenges to election results to governors' emergency orders concerning the Covid-19 pandemic. Looking ahead, state courts are playing a crucial role in the ongoing redistricting cycle, including resolving disputes about racial discrimination and partisan gerrymandering and even drawing electoral maps in some states.States have a wide range of tools to mitigate the harms documented in this report, including eliminating Supreme Court elections or limiting justices to a lengthy single term in office, providing judicial candidates with public financing, strengthening disclosure rules, and adopting recusal and ethics reforms. The 2019–20 cycle underscores that the challenges posed by modern supreme court elections are not going away — and that the need for action is urgent

A Tecnociência: como caminho para o interesse científico

VII Seminário de Extensão Universitária da UNILA (SEUNI); VIII Encontro de Iniciação Científica e IV Encontro de Iniciação em Desenvolvimento Tecnológico e Inovação (EICTI 2019) e Seminário de Atividades Formativas da UNILA (SAFOR)Este projeto visa sobretudo a transferência de conhecimento gerado na universidade federal para a sociedade, fortalecendo a relação intrínseca entre as instituições de ensino superior e a comunidade no campo amplo da cultura, da ciência e da tecnologia. Nesse sentido, o presente trabalho propõe-se constituir alianças junto às escolas públicas que integram o Núcleo Regional de Educação de Foz do Iguaçu (N.R.E), realizando conjuntamente com o corpo docente e alunos da escola e acadêmicos de graduação da UNILA atividades de ciência (i.e, feira de ciência) com o objetivo de criar e estimular nos alunos o interesse pelas diferentes áreas da ciência como matemática, física, química, biologia, e entre outras áreas de interesse próprias do estudante. Para atingir o objetivo proposto, foram apresentados atividades cientificas nas dependências da escola, sugestões de possíveis ideias de experimentos científicos, auxilio nas inscrições on-line dos grupos e/o alunos interessados em participar da feira de ciências, assistência aos professores orientadores dos alunos participantes, orientação aos líderes de cada grupo sobre metodologia cientifica e instruções gerais sobre o evento, e acompanhamento no desenvolvimento dos experimentos pelos alunos participantes no laboratório de ciências da escola. Os resultados parciais mostraram o envolvimento dos alunos e professores nas áreas de ciências da vida, exatas e humanas, via submissão de trabalhos científicos com enfoques em conscientização ambiental, energia limpa, construção, saúde, fatos históricos e entre outros. Finalmente, o presente projeto espera efetivar a importância da ciência e tecnologia tanto no cotidiano como na vida acadêmica e laboral nos estudantes das escolas públicas que compõe o N.R.EÀ Universidade Federal da Integração Latino-Americana (UNILA), via PROEX, pelo apoio financeiro na concessão de uma bolsa, pelo qual foi possível a realização com sucesso do presente projeto de extensã

Signal generator based on a chaotic circuit

"This paper is about a signal generator based on Chua´s circuit. It is able to generate chaotic and sinusoidal signals. It can generate other types of waveforms as well. These results are seen in the experiment carried out on the signal generator. Simple hardware like operational amplifiers along with passive components such as resistors and capacitors are used to make the signal generator.

Do North American Migratory Barren-Ground Caribou Subpopulations Cycle?

Unlike all other members of the deer family, subpopulations of barren-ground caribou (Rangifer tarandus groenlandicus) are typically sine-cyclic. We used Bayesian Information Criteria (BIC) to rank competing population dynamics models for 11 North American barren-ground caribou subpopulations. Nine of these subpopulations were best described as sine-cyclic with periods ranging from a minimum of 26 years (Bluenose-East and Porcupine) to a maximum of 55 years (Western Arctic); and amplitudes ranging from a minimum of 8 455 (Cape Bathurst) to a maximum of 327 432 (George River). Time series estimates of subpopulation abundance generated by the sine cycle models showed good correspondence to published subpopulation estimates of abundance for all nine sine-cyclic subpopulations (r = 0.978; p < 0.001). Lack of demographic closure (migration between subpopulations) was evident in both of the subpopulations that were not identified as sine-cyclic. Barren-ground caribou subpopulation amplitudes were mostly determined by subpopulation total range size and summer range productivity (R2 = 0.962; p < 0.001) and subpopulation periods were mostly determined by amplitude, total range productivity, and land surface temperature (R2 = 0.950; p < 0.001). Time series estimates of subpopulation abundance generated from the respective environmental regression models were highly correlated (r = 0.964; p < 0.001) to the published subpopulation estimates of abundance for the set of 9 sine-cyclic subpopulations. Extended (> 3 generations) subpopulation declines are a natural feature of cyclic barren-ground caribou subpopulations. Trends in species abundance based on pooled assemblages of asynchronous cyclic subpopulations should be interpreted with caution.Contrairement à tous les autres membres de la famille des cervidés, les sous-populations de caribous de la toundra (Rangifer tarandus groenlandicus) suivent généralement un cycle sinusoïdal. Nous avons employé des critères d’information bayésiens (BIC) pour classer des modèles de dynamique des populations concurrentiels pour 11 sous-populations nord-américaines de caribous de la toundra. Neuf de ces sous-populations correspondaient mieux à une description de cycle sinusoïdal avec des périodes allant d’un minimum de 26 ans (Bluenose-Est et Porcupine) à un maximum de 55 ans (Arctique de l’Ouest); et des amplitudes allant d’un minimum de 8 455 (cap Bathurst) à un maximum de 327 432 (rivière George). Les estimations des séries chronologiques de l’abondance des sous-populations obtenues à l’aide des modèles de cycles sinusoïdaux ont affiché une bonne correspondance par rapport aux estimations publiées de l’abondance des sous-populations pour l’ensemble des neuf sous-populations de cycle sinusoïdal (r = 0,978; p < 0,001). Le manque de fermeture démographique (migration entre les sous-populations) était évident dans les deux sous-populations qui n’étaient pas considérées comme suivant un cycle sinusoïdal. L’amplitude des sous-populations de caribous de la toundra était principalement déterminée par la taille de l’aire de répartition totale et la productivité de l’aire d’estivage (R2 = 0,962; p < 0,001), et les périodes de sous-populations étaient principalement déterminées par l’amplitude, la productivité de l’aire de répartition totale et la température en surface des terres (R2 = 0,950; p < 0,001). Les estimations des séries chronologiques de l’abondance des sous-populations produites au moyen des modèles respectifs de régression environnementale étaient fortement corrélées (r = 0,964; p < 0,001) aux estimations publiées de l’abondance des sous-populations pour l’ensemble des neuf sous-populations de cycle sinusoïdal. Les déclins prolongés (> 3 générations) de sous-populations sont une caractéristique naturelle des sous-populations cycliques de caribous de la toundra. Les tendances caractérisant l’abondance des espèces en fonction d’assemblages regroupés de sous-populations cycliques asynchrones devraient être interprétées avec prudence

Expression of stress proteins during fed batch and perfusion cultures

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Stereospecific Overman Rearrangement of Substituted Cyclic Vinyl Bromides: Access to Fully Substituted α-Amino Ketones

A versatile thermal Overman rearrangement of enantioenriched, cyclic allylic alcohols providing tertiary allylic amines has been developed. The vinyl bromide used to control enantioselectivity in a preceding CBS reduction is utilized as a synthetic handle for the preparation of tertiary α-amino ketones and related derivatives in an asymmetric fashion

Polarization and wavelength agnostic nanophotonic beam splitter

High-performance optical beam splitters are of fundamental importance for the development of advanced silicon photonics integrated circuits. However, due to the high refractive index contrast of the silicon-on-insulator platform, state of the art Si splitters are hampered by trade-offs in bandwidth, polarization dependence and sensitivity to fabrication errors. Here, we present a new strategy that exploits modal engineering in slotted waveguides to overcome these limitations, enabling ultra-wideband polarization-insensitive optical power splitters, with relaxed fabrication tolerances. The proposed splitter relies on a single-mode slot waveguide which is transformed into two strip waveguides by a symmetric taper, yielding equal power splitting. Based on this concept, we experimentally demonstrate -3$\pm$0.5 dB polarization-independent transmission in an unprecedented 390 nm bandwidth (1260 - 1650 nm), even in the presence of waveguide width deviations as large as $\pm$25 nm