16,421 research outputs found
Economic Integration in East Asia: Trends, Prospects, and a Possible Roadmap
This paper, which is a revised version of the ADB Working Paper on Regional Economic Integration No. 2, reviews trends in East Asian regionalism in the areas of trade and investment, money and finance, and infrastructure. It finds that trade and, to a lesser extent, financial integration is starting to increase in the region. It also finds that business cycles are starting to be more synchronized, enhancing the case for further monetary integration among these countries. The paper also outlines a roadmap for East Asian integration.
The quality of price formation at market openings and closings: evidence from the Nasdaq stock market
Central counterparties (CCPs) have increasingly become a cornerstone of financial markets infrastructure. We present a model where trades are time-critical, liquidity is limited and there is limited enforcement of trades. We show a CCP novating trades implements efficient trading behaviour. It is optimal for the CCP to face default losses to achieve the efficient level of trade. To cover these losses, the CCP optimally uses margin calls, and, as the default problem becomes more severe, also requires default funds and then imposes position limits
Efficient Algorithms for Searching the Minimum Information Partition in Integrated Information Theory
The ability to integrate information in the brain is considered to be an
essential property for cognition and consciousness. Integrated Information
Theory (IIT) hypothesizes that the amount of integrated information () in
the brain is related to the level of consciousness. IIT proposes that to
quantify information integration in a system as a whole, integrated information
should be measured across the partition of the system at which information loss
caused by partitioning is minimized, called the Minimum Information Partition
(MIP). The computational cost for exhaustively searching for the MIP grows
exponentially with system size, making it difficult to apply IIT to real neural
data. It has been previously shown that if a measure of satisfies a
mathematical property, submodularity, the MIP can be found in a polynomial
order by an optimization algorithm. However, although the first version of
is submodular, the later versions are not. In this study, we empirically
explore to what extent the algorithm can be applied to the non-submodular
measures of by evaluating the accuracy of the algorithm in simulated
data and real neural data. We find that the algorithm identifies the MIP in a
nearly perfect manner even for the non-submodular measures. Our results show
that the algorithm allows us to measure in large systems within a
practical amount of time
2006-2007 Iowa Prison Industries Annual Report, May 2007
Annual report of the Department of Corrections, Iowa Prison Industries
Digital image correlation (DIC) analysis of the 3 December 2013 Montescaglioso landslide (Basilicata, Southern Italy). Results from a multi-dataset investigation
Image correlation remote sensing monitoring techniques are becoming key tools for
providing effective qualitative and quantitative information suitable for natural hazard assessments,
specifically for landslide investigation and monitoring. In recent years, these techniques have
been successfully integrated and shown to be complementary and competitive with more standard
remote sensing techniques, such as satellite or terrestrial Synthetic Aperture Radar interferometry.
The objective of this article is to apply the proposed in-depth calibration and validation analysis,
referred to as the Digital Image Correlation technique, to measure landslide displacement.
The availability of a multi-dataset for the 3 December 2013 Montescaglioso landslide, characterized
by different types of imagery, such as LANDSAT 8 OLI (Operational Land Imager) and TIRS
(Thermal Infrared Sensor), high-resolution airborne optical orthophotos, Digital Terrain Models
and COSMO-SkyMed Synthetic Aperture Radar, allows for the retrieval of the actual landslide
displacement field at values ranging from a few meters (2–3 m in the north-eastern sector of the
landslide) to 20–21 m (local peaks on the central body of the landslide). Furthermore, comprehensive
sensitivity analyses and statistics-based processing approaches are used to identify the role of the
background noise that affects the whole dataset. This noise has a directly proportional relationship to
the different geometric and temporal resolutions of the processed imagery. Moreover, the accuracy
of the environmental-instrumental background noise evaluation allowed the actual displacement
measurements to be correctly calibrated and validated, thereby leading to a better definition of
the threshold values of the maximum Digital Image Correlation sub-pixel accuracy and reliability
(ranging from 1/10 to 8/10 pixel) for each processed dataset
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