Purchasing Power Parity among developing countries and their trade-partners. Evidence from selected CEECs and Implications for their membership of EU.

The purpose of the paper is twofold. Firstly, we test the validity of the PPP hypothesis for selected CEEC (Czech Republic; Hungary; Poland and Slovak Republic). Secondly, we attempt to define those countries’ trade linkages between Euro Area; US and the rest of the world. By applying both univariate unit root and a multivariate cointegration test, we find stronger evidence of PPP from the latter test. Moreover, any failure to accept PPP cannot be attributed to structural breaks, apart from one case (between Czech Republic and EU). In overall, there is evidence of strong-form PPP in 6 out of the 8 cases, while for the rest two, weak-form PPP is accepted. Thus, we confirm PPP as a long run equilibrium baseline for these exchange rates per EURO. Furthermore, the fact that PPP holds between these countries and Euro Area indicates absence of trade frictions and other barriers. The implied well-developed trade relations are consistent with those countries’ entry into EMU.PPP, Unit Root, Structural Breaks, Cointegration, Developing Countries

Asymmetric Volatility Spillovers between Stock Market and Real Activity: Evidence from the UK and the US

This paper examines the short-run dynamic relationships between stock market and real activity, within a country, for the UK and the US. The Cross Correlation Function testing procedure is applied to test for causality in mean and in variance between the stock market and the real economic sector. Besides variance causation, volatility spillover effects are examined through the multivariate specification form of the Exponential GARCH model. There is evidence of significant reciprocal volatility spillovers between the two sectors within a country, implying stronger interdependencies in the UK rather than in the US and asymmetric behavior only in the case of the UK.Stock market, Real activity, Volatility spillovers, UK, US

Quantitative risk analysis for road tunnels complying with EU regulations

Tunnels have improved the connection of regions within the European Commission (EC) and have been used lately as a catalyst for economic development of previously isolated regions. However, the increasing number of these important infrastructures is raising upfront an endogenous problem, which is the severity of accidents that may occur. These risks have much greater impact when heavy goods vehicles (HGVs) or dangerous goods (DGs) are involved in the accident. As a result, the EC launched the EC Directive 2004/54/EC. In order to achieve a minimum acceptable level of safety, the EC Directive 2004/54/EC suggests, apart from the measures imposed based on tunnel characteristics, the implementation of a risk analysis in cases such as the opening of the road tunnel to DGs. The most widely accepted method for such quantitative risk analysis (QRA) is the OECD/PIARC QRA Model. This research exploits the QRA Model to perform a QRA for five illustrative cases in order to explore the sufficiency of the minimum tunnel safety measures imposed by the Directive when transportation of HGVs and DGs is allowed through the tunnel. The research concludes that, at least for tunnels with marginal values of the EC Directive classes for length and traffic, the risk exposure (F/N curves) lays over the acceptable safety limits of ALARP (as low as reasonably practicable) models. Thus, the manager of the tunnel should take seriously into account the provision of the Directive for further risk analysis and consider more safety measures as well as take into account the risk associated with the alternative routes

Environmental, health and safety assessment of post-combustion CO2 capture processes with phase-change solvents

A class of solvents for chemisorption-based CO2 capture, phase-change solvents, promises significant energy reductions due to liquid-liquid phase separation and partial solvent recycling before CO2 desorption. Although energy consumption is a critical aspect of the CO2 capture process sustainability, a holistic evaluation of health, safety, and environmental impacts is required to confirm the beneficial performance of processes employing phase-change solvents compared to conventional alternatives. This study outlines a method for combining the life cycle and environmental, health and safety hazard assessment. The method is applied for the first time on processes employing two different exemplary phase-change solvents, a reference aqueous solution of methylcyclohexylamine (MCA) and a novel mixture of cyclohexylpropane-1,3-diamine (S1N) and dimethylcyclohexylamine (DMCA). The results show that phase-change solvents have the potential to be a better alternative to conventional amine (i.e., MEA) solvent systems due to the reduced reboiler duty and lower impact on the environment. However, additional care might need to be taken to prevent the potential accumulation of the carcinogenic nitrosamines in the system

Optimisation and investment analysis of two biomass-to-heat supply chain structures

As oil prices have risen dramatically lately, many people explore alternative ways of heating their residences and businesses in order to reduce the respective cost. One of the options usually considered nowadays is biomass, especially in rural areas with significant local biomass availability. This work focuses on comparing two different biomass energy exploitation systems, aiming to provide heat to a specific number of customers at a specific cost. The first system explored is producing pellets from biomass and distributing them to the final customers for use in domestic pellet boilers. The second option is building a centralised co-generation (CHP) unit that will generate electricity and heat. Electricity will be fed to the grid, whereas heat will be distributed to the customers via a district heating network. The biomass source examined is agricultural residues and the model is applied to a case study region in Greece. The analysis is performed from the viewpoint of the potential investor. Several design characteristics of both systems are optimised. In both cases the whole biomass-to-energy supply chain is modelled, both upstream and downstream of the pelleting/CHP units. The results of the case study show that both options have positive financial yield, with the pelleting plant having higher yield. However, the sensitivity analysis reveals that the pelleting plant yield is much more sensitive than that of the CHP plant, therefore constituting a riskier investment. The model presented may be used as a decision support system for potential investors willing to engage in the biomass energy field

The Robo-AO software: fully autonomous operation of a laser guide star adaptive optics and science system

Robo-AO is the first astronomical laser guide star adaptive optics (AO) system designed to operate completely independent of human supervision. A single computer commands the AO system, the laser guide star, visible and near-infrared science cameras (which double as tip-tip sensors), the telescope, and other instrument functions. Autonomous startup and shutdown sequences as well as concatenated visible observations were demonstrated in late 2011. The fully robotic software is currently operating during a month long demonstration of Robo-AO at the Palomar Observatory 60-inch telescope

Intussusception of the small bowel secondary to malignant metastases in two 80-year-old people: a case series

<p>Abstract</p> <p>Introduction</p> <p>Small bowel intussusception is rare in adults and accounts for one percent of all bowel obstructions. Malignancy is the etiologic agent in approximately 50 percent of all cases.</p> <p>Case presentation</p> <p>Our first patient was an 80-year-old Caucasian woman with signs and symptoms of intermittent bowel obstruction for the last 12 months. Pre-operative investigation by abdominal computed tomography scanning revealed an obstruction at the ileocecal valve. Exploratory laparotomy revealed an ileocecal intussusception. She underwent an enterectomy. Histological examination showed metastatic breast cancer (lobular carcinoma). Our patient had previously undergone a mastectomy due to carcinoma three years earlier.</p> <p>Our second patient was an 80-year-old Caucasian man with signs and symptoms of acute bowel obstruction. Pre-operative investigation by abdominal computed tomography scanning showed an intussusception in the proximal part of the small bowel. Exploratory laparotomy revealed a jejunojejunal intussusception. He underwent an enterectomy. Histological examination showed metastatic melanoma. Our patient had a prior history of a primary cutaneous melanoma which was excised two years ago.</p> <p>Conclusion</p> <p>Pre-operative determination of the etiologic agent of intussusception in the small bowel in adults is difficult. Although a computed tomography scan is very helpful, the diagnosis of intussusception is made by exploratory laparotomy and histological examination defines the etiologic agent. A prior malignancy in the patient's history must be taken under consideration as a possible cause of intussusception.</p

The effect of different skin-ankle brace application pressures on quiet single-limb balance and electromyographic activation onset of lower limb muscles

<p>Abstract</p> <p>Background</p> <p>Several studies have been carried out in order to investigate the effect of ankle bracing on ankle joint function and performance. However, no study so far has examined the role of skin-brace interface pressure in neuromuscular control. The aim of this study was to investigate the effect of different skin-ankle brace interface pressures on quiet single limb balance and the electromyographic (EMG) activation sequence of four lower limb muscles.</p> <p>Methods</p> <p>Thirty three male physical education students who volunteered to take part in the study were measured under three ankle brace conditions: i) without brace, ii) with brace and 30 kPa application pressure and iii) with brace and 60 kPa application pressure. Single limb balance (anteroposterior and mediolateral parameter) was assessed on the dominant lower limb, with open and closed eyes, on a force platform, simultaneously with the EMG recording of four lower lower limb muscles' (gastrocnemius, peroneus longus, rectus femoris and biceps femoris) activation onset.</p> <p>Results</p> <p>The results showed that overall balance (total stability parameter) was not significantly affected in any of the three ankle brace conditions. However, the anteroposterior centre of pressure excursion and centre of pressure excursion velocity were significantly increased with the application of ankle brace, both with 30 and 60 kPa application pressures. Furthermore, it was found that single limb balance was significantly worse with closed eyes compared to open eyes. EMG measurements showed that the sequence of lower limb activation onset was not affected in any of the three ankle brace application conditions. The results of this study showed that the application of an ankle brace with two different skin-brace interface pressures had no effect on overall single limb balance and the sequence of lower limb muscle activation.</p> <p>Conclusion</p> <p>These findings suggest that peripheral joint receptors are either not adequately stimulated by the brace application and therefore are not able to alter the balance control strategy of the CNS, or that they play a less important role in the control of single limb balance. Further research is needed in this area with more dynamic and functional measurements, before the safe use of ankle bracing can be widely recommended.</p

Effects of dietary substitution of fishmeal by black soldier fly (Hermetia illucens) meal on growth performance, whole-body chemical composition, and fatty acid profile of Pontastacus leptodactylus juveniles

Freshwater crayfish are considered as aquatic products of high quality and high nutritional value. The increasing demand has led to populations reduction in several locations throughout their range. Thus, the development of appropriate rearing conditions is considered necessary, among which, optimization of their diet is a basic part. Towards this direction, in the present study, a 98-day feeding trial was carried out to evaluate the impact of dietary fishmeal substitution by Hermetia illucens meal on Pontastacus leptodactylus juveniles kept under laboratory conditions. Insect meals represent an environmentally friendly alternative solution, considered as a high-value feed source, rich in nutrients such as protein and fat. Three dietary regimens were utilized with a fishmeal-based without Hermetia meal (HM) defined as the control diet (HM0), and two diets, the first with 50% (HM50) and the second with 100% (HM100) of fishmeal substitution by HM, respectively. Growth performance, whole-body composition, and fatty acid profiles of individuals were studied in the different treatments. At the end of the feeding trial, statistically significant differences were observed in the mean survival rate (SR), specific growth rate (SGR), feed conversion ratio (FCR) and weight gain (WG) values. More specifically, animals fed with HM-based diets had higher mean SR, while the control group performed better regarding FCR and SGR. The HM inclusion in the diet significantly altered the whole-body chemical composition of the crayfish signifying a different metabolic utilization compared to fishmeal (FM). The fatty acid analysis revealed that 16:0 (palmitic acid) was the predominant saturated fatty acid (SFA), 18:1ω9 (oleic acid) was found to be the main monounsaturated fatty acid (MUFA), while 18:2ω6 (linoleic acid) represented the major polyunsaturated fatty acid (PUFA) followed by C20:3 cis ω3 (cis-11-14-17-eicosatrienoate) and C22:6 cis ω3 (cis-4,7,10,13,16,19-Docosahexaenoic) fatty acids. The inclusion of dietary HM significantly reduced the contents of ∑SFAs, ∑PUFAs and ∑ω6 fatty acids, as well as those of C22:6 cis ω3 and increased the ω6/ω3 and hypocholesterolemic to hypercholesterolemic ratios in the body. In parallel with improvements in balanced diets and in culture conditions that need to be optimised for rearing of freshwater crayfish, our study provides new data that enlighten the suitability of insect meals in the nutrition of P. leptodactylus