Coalitions in Space: Where Networks are Power

This study begins with the widely recognized problem of 21st century space vulnerabilities. To address this challenge, it proposes the new concept of an “allied space network” as a possible means of both reducing risks and enhancing space power. Such a concept would move beyond realist, Cold War “balancing” in space, and instead would require new forms of technical and political cooperation in the military sector among participating states. In thinking about future space security this study argues that trans-national networks and alliances offer considerable untapped potential, with possibly significant benefits particularly for the United States, which—unlike China and Russia— already has established military alliances with a number of countries possessing or now developing advanced space capabilities

A Missile Stability Regime for South Asia

India and Pakistan have created sizeable ballistic missile forces and are continuing to developand enlarge them. These forces can be both stabilizing (e.g., providing a survivable force for deterrence) and destabilizing (e.g., creating strategic asymmetries). Missile forces will be a factor in bilateral relations for the foreseeable future, so restraint is necessary to curtail their destabilizing effects. Such restraint, however, must develop within an atmosphere of low trust. This report presents a set of political and operational options, both unilateral and bilateral,that decreases tensions, helps rebuild the bilateral relationship, and prepares the ground for future steps in structural arms control. Significant steps, which build on precedents and do not require extensive cooperation, are possible despite strained relations. The approach is made up of three distinct phases: 1) tension reduction measures, 2) confidence building measures, and 3) arms control agreements. The goal of the first phase is to initiate unilateral stepsthat are substantive and decrease tensions, establish missiles as a security topic for bilateral discussion, and set precedents for limited bilateral cooperation. The second phase would build confidence by expanding current bilateral security agreements, formalizing bilateral understandings, and beginning discussion of monitoring procedures. The third phase could include bilateral agreements limiting some characteristics of national missile forces including the cooperative incorporation of monitoring and verification

SPACE AND SINO-AMERICAN SECURITY RELATIONS

China’s emphasis on space exploration and its development and use of space capabilities are prominent and tangible expressions of its emergence as a great power and make space an increasingly important dimension of Sino-American relations. In October 2003 China independently launched and recovered its first taikonaut, becoming just the third member of an elite spacefaring club with Russia and the United States. Then in January 2007 China first successfully tested a kinetic energy anti-satellite (ASAT) weapon and again joined Russia and the United States as one of only three states known to have demonstrated this capability. China’s growing power and space emphasis may become manifest in mostly peaceful and cooperative ways or may lead to increasing competition and perhaps even conflict with the United States

Advanced control for airbreathing engines, volume 1: Pratt and Whitney

The application of advanced control concepts to air breathing engines may yield significant improvements in aircraft/engine performance and operability. Screening studies of advanced control concepts for air breathing engines were conducted by three major domestic aircraft engine manufacturers to determine the potential impact of concepts on turbine engine performance and operability. The purpose of the studies was to identify concepts which offered high potential yet may incur high research and development risk. A target suite of proposed advanced control concepts was formulated and evaluated in a two phase study to quantify each concept's impact on desired engine characteristics. To aid in the evaluation specific aircraft/engine combinations were considered: a Military High Performance Fighter mission, a High Speed Civil Transport mission, and a Civil Tiltrotor mission. Each of the advanced control concepts considered in the study are defined and described. The concept potential impact on engine performance was determined. Relevant figures of merit on which to evaluate the concepts are determined. Finally, the concepts are ranked with respect to the target aircraft/engine missions. A final report describing the screening studies was prepared by each engine manufacturer. Volume 1 of these reports describes the studies performed by Pratt & Whitney

Space Station Engineering Design Issues

Space Station Freedom topics addressed include: general design issues; issues related to utilization and operations; issues related to systems requirements and design; and management issues relevant to design

Policy mix, public debt management, and fiscal rules - lessons from the 2002 Brazilian crisis

Despite significant progress in economic reformthroughout the 1990s, and an exemplary development of the policymaking framework in the second part of the decade, Brazil suffered a major public debt and currency crisis in 2002. Though the political origin of the uncertainty cannot be ignored, the author identifies other sources of uncertainty emanating from the policymaking framework: fiscal policy was not responsive to the shocks, public debt instruments were used with several objectives (to stabilize the currency and to lengthen maturity) and there was inadequate supervision of agents holding public debt. Most of the flaws have been fixed following the crisis: a) The primary fiscal balance has been increased, sending the signal that it is a flexible instrument that will be used to ensure commitment of the sovereign to honor its obligations. b) The central bank formally transferred to the Treasury the remaining debt-issuance functions, facilitating a more adequate balancing of different risks involved in debt management. c) Mutual funds'public debt holdings are better regulated, ensuring that end-investors have the proper information to assess the risk of the institutions in which they invest.Banks&Banking Reform,Environmental Economics&Policies,Strategic Debt Management,Payment Systems&Infrastructure,Economic Theory&Research,Economic Stabilization,Economic Theory&Research,Banks&Banking Reform,Environmental Economics&Policies,Public Sector Economics&Finance

Effects of the Quantitative Easing Policy: A Survey of Empirical Analyses

This paper surveys the empirical analyses that examine the effects of the Bank of Japan's (BOJ's) quantitative easing policy (QEP), which was implemented from March 2001 through March 2006. The survey confirms a clear effect whereby the commitment to maintain the QEP fostered the expectations that the zero interest rate would continue into the future, thereby lowering the yield curve centering on the short- to medium-term range. There were also phases in which an increase in the current account balances held by financial institutions at the BOJ bolstered this expectation. While the results were mixed as to whether expansion of the monetary base and altering the composition of the BOJ's balance sheet led to portfolio rebalancing, generally this effect, if any, was smaller than that stemming from the commitment. When viewing the QEP's impact on Japan's economy through various transmission channels, many of the analyses suggest that the QEP created an accommodative environment in terms of corporate financing. In particular, the QEP contained financial institutions' funding costs from the market and staved off financial institutions' funding uncertainties. The QEP's effect on raising aggregate demand and prices was often limited, due largely to the then progressing corporate balance-sheet adjustment, as well as the zero bound constraint on interest rates.Zero interest rate policy; Quantitative easing policy; Commitment; Zero bound constraint on interest rates; Deflation