New method speeds body inert gas saturation and utilizes surface decompression

Method reduces required saturation time from three days to six hours and also reduces required decompression time. Waiting time for planning underwater research is therefore reduced, and emergency surfacing is possible

Report on computation of repetitive hyperbaric-hypobaric decompression tables

The tables were constructed specifically for NASA's simulated weightlessness training program; they provide for 8 depth ranges covering depths from 7 to 47 FSW, with exposure times of 15 to 360 minutes. These tables were based up on an 8 compartment model using tissue half-time values of 5 to 360 minutes and Workmanline M-values for control of the decompression obligation resulting from hyperbaric exposures. Supersaturation ratios of 1.55:1 to 2:1 were used for control of ascents to altitude following such repetitive dives. Adequacy of the method and the resultant tables were determined in light of past experience with decompression involving hyperbaric-hypobaric interfaces in human exposures. Using these criteria, the method showed conformity with empirically determined values. In areas where a discrepancy existed, the tables would err in the direction of safety

Seasonality, Risk And Return In Daily COMEX Gold And Silver Data 1982-2002

This paper examines the conditional and unconditional mean returns and variance of returns of daily gold and silver contracts over the 1982-2002 period. Despite the importance of these metals as industrial and investment products, they have received scant attention in recent years. In particular, we focus on the issue of whether there exists detectable daily seasonality in these moments. Using COMEX cash and futures data we find that under both parametric and nonparametric analysis the evidence is weak in the issue of daily seasonality for the mean but strong for the variance. There appears to be a negative Monday effect in both gold and silver, across cash and futures markets. When the mean and variance are analysed simultaneously in a GARCH framework we note that a leveraged GARCH model provides a best fit for the data and that in framework the Monday seasonal does not disappear, indicating that it is not a risk-related artefact, the Monday dummy in the variance equations being significant also. No evidence of an ARCH-in-Mean effect is found. Classification-Seasonality GARCH Models, Gold, and Silver

Managing Price Risk in a Changing Policy Environment: The Case of the EU Dairy Industry

The EU dairy industry faces an unprecedented level of change. The anticipated removal of milk quotas and the move to a less restricted global trade environment will provide the industry with both opportunities and challenges. The primary challenge will be the need for the industry to deal with more volatile prices. Active management of the risks associated with these more volatile prices will help to place the industry in a more competitive position. However this will require the industry and policy makers to embrace a new set of tools. For example the US dairy industry has been much more active in the management of risk and lessons from their experience provide a valuable insight into which tools may be more appropriate in an EU context.Dairy, Risk Management, EU, US,

Measuring Volatility in Dairy Commodity Prices

The policy environment facing the EU dairy industry continues to undergo considerable change under WTO and CAP reform. Movement away from supply management by the EU and a more liberal global agricultural trading system will involve greater price volatility for dairy commodities. It is anticipated that EU dairy prices will more closely align with world prices. World prices are both lower and more volatile than EU prices and it is further assumed that this increased volatility will be transmitted to EU prices. Price volatility is a concern for a number of reasons as it adds challenges for business planning, debt repayment, and, in some cases, solvency. Representative EU and world butter and SMP (Skim Milk Powder) prices are considered and using the ARMA and GARCH framework their volatility is quantified.Price Volatility, ARMA, GARCH, Butter, SMP, Dairy Policy, Agricultural and Food Policy, Food Consumption/Nutrition/Food Safety,

International Portfolio Formation, Skewness & the Role of Gold

This paper examines the optimal allocation of assets in well diversified equity based portfolio where the investor is concerned not only with mean and variance but also with the skewness of the returns. Beginning with an analysis of the rationale for concerning with skewness, the paper then discusses previous attempts to model multi-objective portfolio problems. The second part of the paper outlines the attractive nature of the gold asset in equity portfolios. The paper then integrates the two elements, showing the changes in portfolio composition that arise when not only skewness but gold are concerned.Portfolio Allocation, Skewness, Gold