Sovereign Wealth Funds: Form and Function in the 21st Century

As representatives of nation-states in global financial markets, sovereign wealth funds (SWFs) share a common form and many functions. Arguably their form and functions owe as much to a shared (global) moment of institutional formation as they owe their form and functions to the hegemony of Anglo-American finance over the late 20th and early 21st centuries. We distinguish between the immediate future for SWFs in the aftermath of the global financial crisis, and two possible long-term scenarios; one of which sees SWFs becoming financial goliaths dominating global markets, while the other sees SWFs morphing into nation-state development institutions that intermediate between financial markets and the long-term commitments of the nation-state sponsors. If the former scenario dominates, global financial integration will accelerate with attendant costs and benefits. If the latter scenario dominates, SWFs are likely to differentiate and evolve, returning, perhaps, to their national traditions and their respective places in a world of contested power and influence. Here, we clarify the assumptions underpinning the conception and formation of sovereign wealth funds over the past twenty years or so in the face of the ‘new’ realities of global finance.Sovereign Wealth Funds, Crisis, Market Performance, Long-term Investment

REDUCING TRANSPORTATION DAMAGE TO GRAPES AND STRAWBERRIES

In-transit vibration damage to grapes and strawberries results in reduced quality for the consumer and reduced profits for the produce industry. To solve this problem, the first step is to determine which vibrational frequencies are causing the damage. In various tests, grapes and strawberries were subjected to different frequencies at constant force levels. The effects of the vibration treatments were evaluated on the basis of grading, color analysis, firmness, respiration rate and ethylene production rate. The critical frequency was found to lie between 7.5 and 10 Hertz for both commodities. Color change and respiration rate were shown to be good indicators of damage in grapes. Strawberries did not show a significant effect due to color. Firmness was not affected by vibration in either commodity.Agribusiness,

SIMULATED IN-TRANSIT VIBRATION DAMAGE TO FRESH MARKET RASPBERRIES

Agribusiness,

The Diverse Infrared Properties of a Complete Sample of Star-Forming Dwarf Galaxies

We present mid-infrared Spitzer Space Telescope observations of a complete sample of star-forming dwarf galaxies selected from the KPNO International Spectroscopic Survey. The galaxies span a wide range in mid-infrared properties. Contrary to expectations, some of the galaxies emit strongly at 8 micron indicating the presence of hot dust and/or PAHs. The ratio of this mid-infrared dust emission to the stellar emission is compared with the galaxies' luminosity, star-formation rate, metallicity, and optical reddening. We find that the strength of the 8.0 micron dust emission to the stellar emission ratio is more strongly correlated with the star-formation rate than it is with the metallicity or the optical reddening in these systems. Nonetheless, there is a correlation between the 8.0 micron luminosity and metallicity. The slope of this luminosity-metallicity correlation is shallower than corresponding ones in the B-band and 3.6 micron. The precise nature of the 8.0 micron emission seen in these galaxies (i.e., PAH versus hot dust or some combination of the two) will require future study, including deep mid-IR spectroscopy.Comment: 14 pages, accepted Ap

A New Zealand regional work-related sprains and strains surveillance, management and prevention programme: study protocol.

BACKGROUND: The impact and costs associated with work-related sprains and strains in New Zealand and globally are substantial and a major occupational and public health burden. In New Zealand around one-third of all sprains and strains workers compensation (ACC) claims (2019) are for back injuries, but shoulder and arm injuries are increasing at a faster rate than other sprain and strain injuries (ACC, 2020). A need exists for a change to current approaches to sprains and strains prevention, to more effectively manage this significant and persistent problem in workplaces. Designing out hazards is one of the most effective means of preventing occupational injuries and illnesses. This paper outlines the study protocol of the surveillance, management and prevention programme and describes the utilisation of prevention through design principles in the prevention of work-related sprains and strains in agriculture/horticulture/food production in the Hawkes Bay region of New Zealand. METHODS: This is a prospective mixed methods study incorporating the collection of quantitative data to describe the epidemiology of work related sprains and strains injuries presenting to the regional health centre (Hastings Health Centre) over a period of 24 months and qualitative data from participants presenting at the health centre to identify high risk industry sectors/ occupations/ workplaces and tasks and design, develop and apply prevention through design principles/ solutions/interventions to critical features of the work and work environment and undertake an outcome evaluation during the last 6 months of the project. DISCUSSION: The purpose of this project is to establish an epidemiological surveillance programme to assess the incidence and prevalence of work-related sprains and strains according to age, sex, industry sector and occupation to target efforts to prevent work-related sprains and strains, by applying prevention through design (PtD) principles in selected workplaces in agriculture. The collection of more detailed case, occupational and work history data from a sample of patients presenting at the HHC clinic will identify high risk industry sectors/occupations/workplaces and tasks. Assessment techniques will include comprehensive design, design thinking and human factors/ergonomics methodologies through co-design and participatory ergonomics techniques. The PtD solutions/ interventions implemented will be evaluated using a quasi-experimental design consisting of a pre-test/ post-test with-in subjects design with control groups that do not receive the intervention.Published onlin

Dynamic Failure in Amorphous Solids via a Cavitation Instability

The understanding of dynamic failure in amorphous materials via the propagation of free boundaries like cracks and voids must go beyond elasticity theory, since plasticity intervenes in a crucial and poorly understood manner near the moving free boundary. In this Letter we focus on failure via a cavitation instability in a radially-symmetric stressed material, set up the free boundary dynamics taking both elasticity and visco-plasticity into account, using the recently proposed athermal Shear Transformation Zone theory. We demonstrate the existence (in amorphous systems) of fast cavitation modes accompanied by extensive plastic deformations and discuss the revealed physics.Comment: 4 pages, 4 figure

Dynamic ductile to brittle transition in a one-dimensional model of viscoplasticity

We study two closely related, nonlinear models of a viscoplastic solid. These models capture essential features of plasticity over a wide range of strain rates and applied stresses. They exhibit inelastic strain relaxation and steady flow above a well defined yield stress. In this paper, we describe a first step in exploring the implications of these models for theories of fracture and related phenomena. We consider a one dimensional problem of decohesion from a substrate of a membrane that obeys the viscoplastic constitutive equations that we have constructed. We find that, quite generally, when the yield stress becomes smaller than some threshold value, the energy required for steady decohesion becomes a non-monotonic function of the decohesion speed. As a consequence, steady state decohesion at certain speeds becomes unstable. We believe that these results are relevant to understanding the ductile to brittle transition as well as fracture stability.Comment: 10 pages, REVTeX, 12 postscript figure

Star formation in galaxies at z~4-5 from the SMUVS survey: a clear starburst/main-sequence bimodality for Halpha emitters on the SFR-M* plane

We study a large galaxy sample from the Spitzer Matching Survey of the UltraVISTA ultra-deep Stripes (SMUVS) to search for sources with enhanced 3.6 micron fluxes indicative of strong Halpha emission at z=3.9-4.9. We find that the percentage of "Halpha excess" sources reaches 37-40% for galaxies with stellar masses log10(M*/Msun) ~ 9-10, and decreases to <20% at log10(M*/Msun) ~ 10.7. At higher stellar masses, however, the trend reverses, although this is likely due to AGN contamination. We derive star formation rates (SFR) and specific SFR (sSFR) from the inferred Halpha equivalent widths (EW) of our "Halpha excess" galaxies. We show, for the first time, that the "Halpha excess" galaxies clearly have a bimodal distribution on the SFR-M* plane: they lie on the main sequence of star formation (with log10(sSFR/yr^{-1})<-8.05) or in a starburst cloud (with log10(sSFR/yr^{-1}) >-7.60). The latter contains ~15% of all the objects in our sample and accounts for >50% of the cosmic SFR density at z=3.9-4.9, for which we derive a robust lower limit of 0.066 Msun yr^{-1} Mpc^{-3}. Finally, we identify an unusual >50sigma overdensity of z=3.9-4.9 galaxies within a 0.20 x 0.20 sq. arcmin region. We conclude that the SMUVS unique combination of area and depth at mid-IR wavelengths provides an unprecedented level of statistics and dynamic range which are fundamental to reveal new aspects of galaxy evolution in the young Universe.Comment: 18 pages, 11 figures, 1 table. Re-submitted to the ApJ, after addressing referee report. Main changes with respect to v1: a new section and a new appendix have been added to investigate further the origin and robustness of the sSFR bimodality. No conclusion change

Dust Properties and Star-Formation Rates in Star-Forming Dwarf Galaxies

We have used the Spitzer Space Telescope to study the dust properties of a sample of star-forming dwarf galaxies. The differences in the mid-infrared spectral energy distributions for these galaxies which, in general, are low metallicity systems, indicate differences in the physical properties, heating, and/or distribution of the dust. Specifically, these galaxies have more hot dust and/or very small grains and less PAH emission than either spiral or higher luminosity starburst galaxies. As has been shown in previous studies, there is a gradual decrease in PAH emission as a function of metallicity. Because much of the energy from star formation in galaxies is re-radiated in the mid-infrared, star-formation rate indicators based on both line and continuum measurements in this wavelength range are coming into more common usage. We show that the variations in the interstellar medium properties of galaxies in our sample, as measured in the mid-infrared, result in over an order of magnitude spread in the computed star-formation rates.Comment: 25 pages, 11 figures, 4 tables, ApJ accepte

Extended Fermi coordinates

We extend the notion of Fermi coordinates to a generalized definition in which the highest orders are described by arbitrary functions. From this definition rises a formalism that naturally gives coordinate transformation formulae. Some examples are developped in which the extended Fermi coordinates simplify the metric components.Comment: 16 pages, 1 figur