11,903 research outputs found

    The Limits of U.S.-China Military Cooperation: Lessons from 1995-1999

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    "The Limits of U.S.-China Military Cooperation: Lessons from 1995-1999" (with Kurt Campbell) The Washington Quarterly 29: 1 (Winter 2005), pp. 169-186

    Social and environmental narrative reporting : analysts' perceptions

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    An ACCA research report, Narrative Reporting: Analysts' Perceptions of its Value and Relevance was published in November 2008. The research considered analysts' views on five key elements of narrative reporting, including social and environmental disclosures. Due to the significant interests ACCA has in corporate transparency with regards to sustainability, this specific part of the research has been highlighted in this paper. The other parts of the research have been summarised only.Publisher PD

    Teaching Peirce to Undergraduates

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    Fourteen philosophers share their experience teaching Peirce to undergraduates in a variety of settings and a variety of courses. The latter include introductory philosophy courses as well as upper-level courses in American philosophy, philosophy of religion, logic, philosophy of science, medieval philosophy, semiotics, metaphysics, etc., and even an upper-level course devoted entirely to Peirce. The project originates in a session devoted to teaching Peirce held at the 2007 annual meeting of the Society for the Advancement of American Philosophy. The session, organized by James Campbell and Richard Hart, was co-sponsored by the American Association of Philosophy Teachers

    A Knowledge-Based Optimization Method for Aerodynamic Design

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    A new aerodynamic design method, CODISC, has been developed that combines a legacy knowledge-based design method, CDISC, with a simple optimization module known as SOUP. The primary goal of this new design system is to improve the performance gains obtained using CDISC without adding significant computational time. An additional objective of this approach is to reduce the need for a priori knowledge of good initial input variable values, as well as for subsequent manual revisions of those values as the design progresses. Several test cases illustrate the development of the process to date and some of the options available at transonic and supersonic speeds for turbulent flow designs. The test cases generally start from good baseline configurations and, in all cases, were able to improve the performance. Several new guidelines for good initial values for the design variables, as well as new design rules within CDISC itself, were developed from these cases

    Experimental study of a generic high-speed civil transport

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    An experimental study of generic high-speed civil transport was conducted in the NASA Langley 8-ft Transonic Pressure Tunnel. The data base was obtained for the purpose of assessing the accuracy of various levels of computational analysis. Two models differing only in wingtip geometry were tested with and without flow-through nacelles. The baseline model has a curved or crescent wingtip shape, while the second model has a more conventional straight wingtip shape. The study was conducted at Mach numbers from 0.30 to 1.19. Force data were obtained on both the straight wingtip model and the curved wingtip model. Only the curved wingtip model was instrumented for measuring pressures. Selected longitudinal, lateral, and directional data are presented for both models. Selected pressure distributions for the curved wingtip model are also presented

    The Term Structure of Euromarket Interest Rates: An Empirical Investigation

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    This paper is an empirical investigation of the predictability and comovement of risk premia in the term structure of Euromarket interest rates. We show that variables which have been used as proxies for risk premia on uncovered foreign asset positions also predict excess returns in Euroniarket term structures, while variables which have been used as proxies for risk premia in the term structure also predict excess returns on taking uncovered foreign asset positions. These findings suggests that risk premia in the Euromarket term structures and on uncovered foreign asset positions move together. We test formally the hypothesis that risk premia on uncovered 3-month EuroDM and Eurosterling deposits move in proportion to a single latent variable. We are unable to reject this hypothesis. We are also unable to reject the hypothesis that the risk premia on these three strategies and those on rolling over 1-month Eurosterling (EuroDM) deposits versus holding a 3-month Eurosterlirig (EuroDN) deposit move in proportion to a single latent variable. The single latent variable model can be interpreted atheoretically, as a way of characterizing the extent to which predictable asset returns "move together"; or it can be interpreted as in Hansen and Hodrick (1983) and Hodrick and Srivastava (1983) as a specialization of the ICAPM in which assets have constant betas on a single, unobservable benchmark portfolio.

    Development of a Knowledge-Based Optimization Method for Aerodynamic Design

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    A new aerodynamic design method, CODISC, has been developed that combines an existing knowledgebased design method, CDISC, with a simple optimization module known as SOUP. The primary goal of this new design system is to improve the performance gains obtained using CDISC without adding significant computational time. An additional benefit of this approach is a reduction in the need for a priori knowledge of good initial input variable values as well as for subsequent manual revisions of those values as the design progresses. A series of 2D and 3D test cases are used to illustrate the development of the process and some of the options available at transonic and supersonic speeds for both laminar and turbulent flow. The test cases start from good baseline configurations and, in all cases, were able to improve the performance. Several new guidelines for good initial values for the design variables, as well new design rules within CDISC itself, were developed from these cases

    Household Saving and Permanent Income in Canada and the United Kingdom

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    Recent theoretical research in open-economy macroeconomics has emphasized the connection between a country's current account and the intertemporal savings and investment choices of its households, firms, and governments. In this paper, we assess the empirical relevance of the permanent income theory of household saving, a key building block of recent theoretical models of the current account. Using the econometric approach of Campbell (1987), we are able to reject the theory on quarterly aggregate data in Canada and the United Kingdom. However, we also assess the economic significance of these statistical rejections by comparing the behavior of saving with that of an unrestricted vector autoregressive (VAR) forecast of future changes in disposable labor income. If the theory is true, saving should be the best available predictor of future changes in disposable labor income. We find the correlation between saving and the unrestricted VAR forecast to be extremely high in both countries. The results suggest that the theory provides a useful description of the dynamic behavior of household saving in Canada and Britain.

    The Dollar and Real Interest Rates

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    In this paper, we investigate the link between the real foreign exchange value of the dollar and real interest rates since 1979. We argue that it is important to consider the possibility that real exchange rate movements reflect movements of the long-run equilibrium exchange rate as well as real interest differentials. We use a state-space approach to estimate the importance of shifts in the long-run equilibrium exchange rate, the persistence of the ex ante short-term real interest differential, and the effect of this differential on the exchange rate. Using U.S., Canadian, British, German and Japanese data from October 1979 to March 1986, we find that movements in the dollar real exchange rate have been dominated by unanticipated shifts in the expected long-run real exchange rate. Ex ante real interest differentials have not been persistent or variable enough to account for a major part of exchange rate variation. We use Mussa's (1984) rational expectations model of the real exchange rate and the current account to interpret our results.
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