Purchasing Power Parity and the Chinese Yuan

Results from unit root tests applied to the bilateral China - US real exchange rate do not support purchasing power parity between the two countries. However, tests of the real equivalent exchange rate for the Chinese yuan versus a traded-weighted basket of currencies support purchasing power parity. Due to severe non-normality, critical values for tests of the real equivalent exchange rate are obtained from the wild bootstrap.China, purchasing power parity, unit root test, wild bootstrap

Nonextremal Black Hole Microstates and U-duality

A six-parameter family of five-dimensional black hole solutions is constructed which are labeled by their mass, two asymptotic scalar fields and three charges. It is shown that the Bekenstein-Hawking entropy is exactly matched, arbitrarily far from extremality, by a simple but mysterious duality-invariant extension of previously derived formulae for the number of D-brane states in string theory.Comment: 19 page

Korean SMEs in the Wake of the Financial Crisis: Strategies, Constraints and Performance in a Global Economy

South Korea was one of the most adversely affected economies from the Asian financial and economic crisis of 1997. This paper focuses upon the contribution that the SME sector in this country is making towards the recovery of the economy, and, in particular, focuses upon their contribution in a knowledge-based society. In this paper we present an overview of the contribution and significance of SMEs to the economy. We follow this with a discussion of the impact of the Asian financial crisis on the SME sector. Next, we look at the involvement of SMEs in the global economy, focusing on the globalisation readiness of Korea's SMEs. Based on a recent study of nearly 1,800 SMEs in Korea, we look at the existing impediments in globalising operations, along with areas government should support in assisting SMEs to become globalisation ready. Finally, we present the prospects for Korea's SMEs in the 21st century and the emphasis on venture enterprises as a way to promote the technological competitiveness of SMEs.South Korea, Asian financial crisis, SME sector, economic recovery

New Interactive Solar Flare Modeling and Advanced Radio Diagnostics Tools

The coming years will see routine use of solar data of unprecedented spatial and spectral resolution, time cadence, and completeness in the wavelength domain. To capitalize on the soon to be available radio facilities such as the expanded OVSA, SSRT and FASR, and the challenges they present in the visualization and synthesis of the multi-frequency datasets, we propose that realistic, sophisticated 3D active region and flare modeling is timely now and will be a forefront of coronal studies over the coming years. Here we summarize our 3D modeling efforts, aimed at forward fitting of imaging spectroscopy data, and describe currently available 3D modeling tools. We also discuss plans for future generalization of our modeling tools.Comment: 4 pages; IAU Symposium # 274 "Advances in Plasma Astrophysics"; typo remove