Two case studies on electronic distribution of government securities: the U.S. Treasury Direct System and the Philippine Expanded Small Investors Program

The case study on the U.S. Treasury Direct examines the evolution of the electronic distribution systems for marketable and nonmarketable government securities, the main objectives, and the basic legal infrastructure and the preconditions enabling the system. The U.S. experience highlights that the enabling environment and infrastructure (for example, in terms of information databases such as Pay.Gov) make a large difference in terms of both the security and convenience that customers can expect in the use of the system. The system also achieved important cost savings for the Bureau of the Public Debt. The case study on the Small Investors Program of the Philippines looks at a program that the Philippine government has been experimenting with to sell its securities directly to retail investors over the Internet. The recently revised version of the program-called the Expanded Small Investors Program-aims to increase access to government securities and distribute them more widely, develop better savings products, and enhance competition in the primary markets for these securities. The authors analyze whether the program's main goals can be achieved while mitigating the risks. Their analysis suggests thatthere are good reasons to believe that the new program will succeed. Still, regular and responsive assessments and adjustments will be required as the program moves forward.International Terrorism&Counterterrorism,Environmental Economics&Policies,Fiscal&Monetary Policy,Payment Systems&Infrastructure,Financial Intermediation,Environmental Economics&Policies,Financial Intermediation,Insurance&Risk Mitigation,Public Sector Economics&Finance,Banks&Banking Reform

Kajian Defoliasi Sorgum Pada Tumpangsari Dengan Kacang Hijau*)

Study on Defoliation of Sorghum under Cropping Pattern by Mungbean. The aim of the research was to find out the effect of defoliation of sorghum under cropping pattern toward the yield of sorghum, Mungbean and total relative result of the best sorghum and Mungbean in intercropping system has been carried out in Kebun Percobaan Fakultas Pertanian Universitas Gadjah Mada in Banguntapan, Bantul Regency from February up to June 2006. The research method used was split plot design with 2 factors and 3 repetitions. The main factor was defoliation of sorghum comprising of 2 levels: sorghum defoliation (D1) and without sorghum defoliation (D2). The sub factor of sub was cropping pattern, comprising of 5 levels: monoculture of Mungbean (H100). 75% sorghum: 25% Mungbean (S75 H25), 50% sorghum: 50% Mungbean (S50 H50), 25% sorghum: 75% Mungbean (S25 H75) and monoculture sorghum (S100). The results of the study showed that 1) the defoliation sorghum did not affect the yield of mungbean and sorghum, 2) cropping pattern of mungbean monoculture resulted bean/plant amount, seed/plant weight and seed weight/ha of mungbean as higher compared to other cropping pattern, 3) cropping pattern of 25% sorghum: 75% mungbean resulted seed weight/malai sorghum was higher compared to other planting patterns and the highest seed weight/ hectare was resulted in sorghum monoculture planting pattern, 4) the highest total relative yield was 1,303 given planting pattern at 50% sorghum: 50% mungbean and 5) the form of the relation between sorghum and mungbean in intercropping pattern and sorghum defoliation was complementary, while intercropping and without sorghum defoliation was supplementary

Эволюция лингвистических методов в русском и украинском языкознании (ХІХ в. – первая половина ХХ в.)

Статтю присвячено характеристиці еволюційного розвитку операціонального компонента порівняльно-історичного методу в російському та українському мовознавстві XIX ст. – першій половині XX ст. на матеріалі східнослов’янського переходу [е] > [о]. Автор аналізує погляди А. Х. Востокова, І. І. Срезневського, О. А. Потебні, М. А. Колосова, А. І. Соболевського, І. В. Ягича, Ф. Ф. Фортунатова, А. А. Шахматова та їх послідовників. Переважно увагу приділено шахматовській концепції взаємодії вокалізму і консонантизму в історії східнослов’янських мов, в рамках якої перехід [е] > [о] розглядається як одна з V-депалаталізацій. (The article is devoted to the characteristics of the operational component of the comparative-historical method evolutional development in the Russian and Ukrainian linguistics of the XIX century – the first half of XX century on the basis of the [e] > [o] East-Slavic transition. The author analyzes the views of A. Vostokov, I. Sreznevsky, O. Potebnya, M. Kolosov, A. Sobolevskyy, I. Yagitch, F. Fortunatov, A. Shakhmatov and their followers. The primary attention is given to the concept of interaction of the Shakhmatov`s vocalism and consonantism in the history of the East Slavic languages, in which the [e] > [o] transition is considered as one of the V-depalatalizations. This aim is specified in the following objectives: 1) to reveal the features of learning the [e]> [o] transition in the comparative-historical linguistics of the XIX century- the first half of XX century.; 2) to give a comprehensive description of the concepts in terms of modern comparative linguistic methodology; 3) to show the novelty of a number of provisions relevant to modern linguistics for its further deepening and development; 4) to disclose possible conflicts of the linguists concepts of the past; 5) to follow the fate of the XIX century- the first half of XX century comparatists ideas to research linguists future generations.

The theory of cognitive dissonance: A marketing and management perspective

Kantur, Deniz (Dogus Author)The theory of cognitive dissonance concentrates on creating knowledge about important psychological processes of individuals. Specifically, it focuses on the relationships among cognitions that are elements of knowledge that people have about their behaviors, attitudes, perceptions, beliefs, feelings, or environments. Since human nature is the main subject of all social sciences, the theory has awakened interest and led to significant research in different academic domains. This study makes a thorough analysis of the theory's application in psychology, management, and marketing fields with an aim to assess the contribution of the theory to the development of knowledge in these areas. It is observed that the theory is commonly used by marketers to explain consumer behavior while its adoption in the management field to examine human related issues is considerably underdeveloped. Accordingly, the aim of this paper is to extend the literature on cognitive dissonance by discovering the under-investigated areas and pave the way for further theoretical and empirical research. Identification of existing gaps and suggestions for further scholarly inquiries are also believed to contribute to the recent efforts to regenerate interest to topic and to boost its generalizability through its greater utilization in the development of knowledge

Raumscanner

Heutzutage wird 3D Modelierung in verschiedenen Tätigkeitsbereichen genutzt. Besonders interessant ist die Übertragung von Objekten und Fläche aus der realen Umgebung in den Computer für deren weitere n Analyse und Weiterverarbeitung. Um das zu realisieren, wird ein Gerät benötigt, welches in der Lage ist die Umgebung auszumessen und mit Hilfe entsprechender So ftware zu digitalisieren. In dieser Arbeit wird es also um die Hardware und Software Umsetzung eines 3D Raumscanners gehen

Optimal Policy Implications of Financial Uncertainty

In addition to the stabilization of inflation and output gap, the responsibility of preventing financial crises and providing stable financial system is assumed by the central banks. In the aftermath of the Great Recession, the policymakers gave financial stability mandate more prominence to preemptively obliterate the fluctuations in the financial market. New models with alternative policy tools have emerged during this period to analyze the impact of financial shocks, and their linkages with the real economy. However, for the policymaker, it might not be possible to verify these models with existing information, which leads to uncertainty. This paper proposes robust optimal policy under uncertainty in response to financial and inflation shocks by acknowledging financial stability as an explicit objective of monetary policy. To do so, we extend the framework of De Paoli and Paustian (2017) by introducing model misspecification. We show that model ambiguity in the financial side requires a passive monetary policy stance. However, if the uncertainty originates from the supply side of the economy, an aggressive response of interest rate is required. We also show the contribution of an additional tool to the dynamics of the economy

Destruction of the family of steady states in the planar problem of Darcy convection

The natural convection of incompressible fluid in a porous medium causes for some boundary conditions a strong non-uniqueness in the form of a continuous family of steady states. We are interested in the situation when these boundary conditions are violated. The resulting destruction of the family of steady states is studied via computer experiments based on a mimetic finite-difference approach. Convection in a rectangular enclosure is considered under different perturbations of boundary conditions (heat sources, infiltration). Two scenario of the family of equilibria are found: the transformation to a limit cycle and the formation of isolated convective patterns.Comment: 12 pages, 6 figure

Staggered grids discretization in three-dimensional Darcy convection

We consider three-dimensional convection of an incompressible fluid saturated in a parallelepiped with a porous medium. A mimetic finite-difference scheme for the Darcy convection problem in the primitive variables is developed. It consists of staggered nonuniform grids with five types of nodes, differencing and averaging operators on a two-nodes stencil. The nonlinear terms are approximated using special schemes. Two problems with different boundary conditions are considered to study scenarios of instability of the state of rest. Branching off of a continuous family of steady states was detected for the problem with zero heat fluxes on two opposite lateral planes.Comment: 20 pages, 9 figure

Optimal Policy Implications of Financial Uncertainty

In addition to the stabilization of inflation and output gap, the responsibility of preventing financial crises and providing stable financial system is assumed by the central banks. In the aftermath of the Great Recession, the policymakers gave financial stability mandate more prominence to preemptively obliterate the fluctuations in the financial market. New models with alternative policy tools have emerged during this period to analyze the impact of financial shocks, and their linkages with the real economy. However, for the policymaker, it might not be possible to verify these models with existing information, which leads to uncertainty. This paper proposes robust optimal policy under uncertainty in response to financial and inflation shocks by acknowledging financial stability as an explicit objective of monetary policy. To do so, we extend the framework of De Paoli and Paustian (2017) by introducing model misspecification. We show that model ambiguity in the financial side requires a passive monetary policy stance. However, if the uncertainty originates from the supply side of the economy, an aggressive response of interest rate is required. We also show the contribution of an additional tool to the dynamics of the economy