Inflation targeting : a cost/benefit analysis of the monetary policy framework

Includes bibliographical references.Inflation has been defined by many great economists such as Milton Friedman as a “monetary phenomenon.” Inflation can cause many adverse effects on the global economy, and history has shown central bankers that through the control of inflation, output will steadily increase over time without the risk of overheating. Inflation targeting is a relatively new, yet controversial subject between central bankers, but over the past twenty years, the framework has proven to be successful in countries like the United States, United Kingdom, New Zealand, and Canada. This paper seeks to identify the roots of inflation through an analysis of history, and the effects that inflation targeting has had on the United States and the rest of the world. As the global economy becomes larger and more connected, there is a need for monetary policy to grow equally reliable and transparent. Throughout my research process, I have read multiple books and working papers on the subject, as well as interviewed economists on the costs and benefits of inflation targeting as a framework. I have found that inflation targeting, coupled with other monetary tools provides an efficient method of conducting monetary policy, in which the evidence in this paper supports on both an international and domestic viewpoint. In short, inflation targeting creates accountability, transparency, and quicker response times to unforeseen events, which all lead to a more efficient means of longterm, steady growth.B.A. (Bachelor of Arts

Comparison of flat and hollow-fiber mixed-matrix composite membranes for CO2 separation with temperature

Zeolite A/poly (1-trimethylsilyl-1-propyne) (zeoliteA/PTMSP) and [emim][Ac]/chitosan (IL/CS) are mixed-matrix membrane (MMM) materials with enhanced CO2/N2 permselectivity even at higher temperature. The scalability to asymmetric flat and hollow-fiber geometry by a simple dip-coating method was analyzed. The CO2/N2 separation performance was evaluated at different temperatures. The resulting composite membranes exhibit a significantly enhanced CO2permeation flux because the MMM layer thickness is reduced by 97?% from flat to hollow-fiber geometries in IL-CS composite membranes, while the selectivity is maintained similar to the self-standing membranes, thus proving that compatibility between the membrane component materials leads to a defect-free composite membrane, regardless the geometry and temperature.Financial support from the Spanish Ministry of Economyand Competitiveness (MINECO) under project CTQ2012-31229 at the Universidad de Cantabria is gratefully acknowl-edged. A.F.B. and C.C.C. also thank the MINECO for theEarly Stage Researcher (BES2013-064266) and ‘‘Ramón yCajal’’ (RYC2011-0855) contracts, respectively. The authorsthank F. Noboru Ramirez-Matsumoto for his contribution inthe synthesis and permeation experiments of the CS andIL-CS composite flat membranes by the modified IP method

Carbon membranes: Precursor, preparation, and functionalization

In this thesis we study the preparation of Carbon Molecular Sieve (CMS) membranes for the separation of gases. The gases are separated based on their size difference and affinity for the membrane material