5,171 research outputs found

    Parallel markets, the foreign exchange auction, and exchange rate unification in Zambia

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    A large thriving parallel market for foreign exchange has coexisted with a rich menu of official exchange rate policies aimed at achieving a more flexible exchange rate and price system as well as financial and trade liberalization. Despite aggresive policies in these areas, particularly for the exchange rate, the black market premium (defined as the ratio of the black market rate to the official rate) remains high. The authors examine the origins of the parallel market, the statistical properties of the parallel premium, and the shocks and macroeconomic policy changes that influence its evolution. Using annual data, they specify and estimate and eclectic error-correction model for the premium. They find that the large parallel market might have caused problems in macroeconomic management and economic reform. Also, the findings show that foreign inflation and depreciation of the black market rate (in a cost-push manner) directly increases domestic inflation. The authors conclude that exchange rate reform without fiscal reform may be futile and that it is important to liberalize major trade and financial markets in such a way as to compress the parallel market and prevent the premium from serving as a major signal to the economy.Environmental Economics&Policies,Fiscal&Monetary Policy,Macroeconomic Management,Economic Theory&Research,Economic Stabilization

    C1-continuous space-time discretization based on Hamilton's law of varying action

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    We develop a class of C1-continuous time integration methods that are applicable to conservative problems in elastodynamics. These methods are based on Hamilton's law of varying action. From the action of the continuous system we derive a spatially and temporally weak form of the governing equilibrium equations. This expression is first discretized in space, considering standard finite elements. The resulting system is then discretized in time, approximating the displacement by piecewise cubic Hermite shape functions. Within the time domain we thus achieve C1-continuity for the displacement field and C0-continuity for the velocity field. From the discrete virtual action we finally construct a class of one-step schemes. These methods are examined both analytically and numerically. Here, we study both linear and nonlinear systems as well as inherently continuous and discrete structures. In the numerical examples we focus on one-dimensional applications. The provided theory, however, is general and valid also for problems in 2D or 3D. We show that the most favorable candidate -- denoted as p2-scheme -- converges with order four. Thus, especially if high accuracy of the numerical solution is required, this scheme can be more efficient than methods of lower order. It further exhibits, for linear simple problems, properties similar to variational integrators, such as symplecticity. While it remains to be investigated whether symplecticity holds for arbitrary systems, all our numerical results show an excellent long-term energy behavior.Comment: slightly condensed the manuscript, added references, numerical results unchange

    Crafting A Human Resource Strategy To Foster Organizational Agility: A Case Study

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    A decade ago, the CEO of Albert Einstein Healthcare Network (AEHN), anticipating a tumultuous and largely unpredictable period in its industry, undertook to convert this organization from one that was basically stable and complacent to one that was agile, “nimble, and change-hardy”. This case study briefly addresses AEHN’s approaches to business strategy and organization design, but focuses primarily on the human resource strategy that emerged over time to foster the successful attainment of organizational agility. Although exploratory, the study suggests a number of lessons for those who are, or will be, studying or trying to create and sustain this promising new organizational paradigm

    Effects of low seawater pH on the marine polychaete Platynereis dumerilii

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    An important priority for any organism is to maintain internal cellular homeostasis including acidbase balance. Yet, the molecular level impacts of changing environmental conditions, such as low pH, remain uncharacterised. Herein, we isolate partial Na+/H+ exchangers (NHE), carbonic anhydrase (CA), and calmodulin (CaM) genes from a polychaete, Platynereis dumerilii and investigate their relative expression in acidified seawater conditions. mRNA expression of NHE was significantly down-regulated after 1 h and up-regulated after 7 days under low pH treatment (pH 7.8), indicating changes in acid-base transport. Furthermore, the localisation of NHE expression was also altered. A trend of down regulation in CA after 1 h was also observed, suggesting a shift in the CO2 and HCO3- balance. No change in CaM expression was detected after 7 days exposure to acidified seawater. This study provides insight into the molecular level changes taking place following exposure to acidified seawater in a non-calcifying, ubiquitous, organism

    Campus Conversations: Facilitating Temperance in an Intemperate Time

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    Dr. Janine Parry, Professor of Political Science, discusses effective methods for facilitating difficult discussions in the college classroom

    Whole Grains, Legumes, and the Subsequent Meal Effect: Implications for Blood Glucose Control and the Role of Fermentation

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    Whole grains and legumes are known to reduce postprandial glycemia and, in some instances, insulinemia. However, the subsequent meal effect of ingesting whole grains and legumes is less well known. That is, inclusion of whole grains or legumes at breakfast decreases postprandial glycemia at lunch and/or dinner on the same day whereas consumption of a whole grain or lentil dinner reduces glycemia at breakfast the following morning. This effect is lost upon milling, processing, and cooking at high temperatures. The subsequent meal effect has important implications for the control of day-long blood glucose, and may be partly responsible for the reduction in diabetes incidence associated with increased whole grain and legume intake. This paper describes the subsequent meal effect and explores the role of acute glycemia, presence of resistant starch, and fermentation of indigestible carbohydrate as the mechanisms responsible for this effect

    Campus Conversations: Facilitating Temperance in an Intemperate Time

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    Dr. Janine Parry, Professor of Political Science, discusses effective methods for facilitating difficult discussions in the college classroom

    Gender and cultural differences: A sociocognitive perspective on parent involvement in students\u27 autobiographies

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    This inquiry examined the types of literacy support parents gave their children at home, with fifteen students from a diverse class of 23 third graders, during an eight week integrated unit on writing autobiographies. A naturalistic inquiry approach found pattern differences between genders, with respect to the nature of support given at home. Boys, particularly the African American males, received more explicit guidance than girls did. Understanding the nature of parent literacy support can inform ways to connect home and school literacy experiences
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