Impact of globalisation? Changes in the MTM in Poland

The relationship between economic slack and inflation has been getting vague and blurred recently in the monetary transmission models supporting the MPC decision making process. This paper shows that the relationship holds robustly for inflation measures corrected for textile, footwear, audio appliances and telecom devices. The prices of those four consumption basket components have exhibited a downward trend irrespective of what is going on with the rest of consumption process for already five years. The results are supported by the evidence from VAR.

The Relativity Theory Revisited: Is Publishing Interest Rate Forecasts Really so Valuable?

In a New Keynesian model with asymmetric information we show that publication of macroeconomic projections and of the future interest rate path by the central bank can improve macroeconomic outcomes. However, the gains from publishing interest rate paths are small relative to those from publishing macroeconomic projections. Given that most inflation targeting central banks are already publishing macroeconomic projections this means that most gains from increasing transparency in this area may already have been reaped. This, together with the potential costs, may explain the relative reluctance of central banks to publish interest rate paths.interest rate path, monetary policy, adaptive learning

Entwicklung eines metallbasierten Substratkonzepts für energieeffiziente Gastrennmembranen

Metal–supported membranes make an important contribution to energy–efficient production of technical gases, such as H$_{2}$ in the future. Furthermore, the implementation of CCS/CCU technologies in modern fossil fired power plants currently arouses interest. The motivation for the use of metal substrates is a higher stability and joining technology compared to ceramic membranes that are being developedin parallel. Currently, the proof of concept under real conditions of these membranesis missing. In terms of CO$_{2}$–membranes, the stability of metals steel has to be analysed yet. For this reason, the development of an innovative support concept consisting of porous steel support and ceramic interlayer from 8YSZ will be investigated in the present work. Such a concept is suitable for two types of membranes. First, as support for H$_{2}$–selective Pd–Membranes, in the working conditions such as temperatures in range between 400–550 $^{\circ}$C and pressures reaching 20 bar. The second application is as a support for the CO$_{2}$–selective SiO$_{2}$–membrane in the fossil fired power plants under corrosive operating conditions. In such conditions the supportwill be exposed to a relative humidity close to 100 % and temperature of approximatly 70 $^{\circ}$C. The focus of the work was the „proof of concept“ for two above described application types. As a first step, manufacture of substrates from Crofer22APU powders were optimised, which consisted in developing and manufacturing of the tape–casted supports with adjusted thickness of 1 mm. The aim porosity of the metal substrate laid at about 30 %. To achieve this step, a powder with particle size <20 $\mu$m was used. Additionally, new sintering parameters were applied. In parallel, microstructuring experiments in IMVT, KIT in Karlsruhe and in the IFAM, the Fraunhofer Dresden were conducted. Furthermore, the long–term stability, stability under flue gas conditions in the power plant of commercial substrates Plansee (ITM 26) and GKN (316L) and in house produced Crofer22APU was analysed. At the next stage, the focus of the work was the development of a suitable coating technology for metal supports. Apart to adjusting the rheological properties of the suspension, dip–coating parameters were examined and adapted to the support surface and finally to coating technology. Also, the quality of support surface in the weld seam area was consider. The weld seam between porous support and bulk metal sheet was processed by sandblasting [...

Application of high-speed camera measurements for determination of energy losses generated in a vibrating belt of CVT transmission

The paper presents a proposition of the theoretical-experimental method of determination of power losses in the transversely vibrating rubber V-belt of continuously variable transmission. The article comprises the results of experimental tests conducted on a special test stand with a complete scooter drivetrain powered by a small two-stroke internal combustion engine. Such a configuration allows ensuring real CVT working conditions. A high-speed camera was used for the contactless measurement of belt vibrations and time-lapse image analysis was performed in dedicated software. An axially moving Euler–Bernoulli beam was assumed as the mathematical model. Longitudinal vibrations and nonlinear effects were omitted. Additionally, it was assumed that the belt material behaves according to the Kelvin–Voigt rheological model. Analysis of the damped free vibrations of the cantilever beam, made of the belt segment, allowed to determine the equivalent bending damping coefficient. The CVT power losses, due to bending in the rubber transmission belt, were obtained for the fixed working conditions after numerical calculations. The proposed methodology is a new approach in this research area, which allows to obtain results impossible to achieve with other measurement methods

Impact of globalisation? Changes in the MTM in Poland

The relationship between economic slack and inflation has been getting vague and blurred recently in the monetary transmission models supporting the MPC decision making process. This paper shows that the relationship holds robustly for inflation measures corrected for textile, footwear, audio appliances and telecom devices. The prices of those four consumption basket components have exhibited a downward trend irrespective of what is going on with the rest of consumption process for already five years. The results are supported by the evidence from VAR

Impact of globalisation? Changes in the MTM in Poland

The relationship between economic slack and inflation has been getting vague and blurred recently in the monetary transmission models supporting the MPC decision making process. This paper shows that the relationship holds robustly for inflation measures corrected for textile, footwear, audio appliances and telecom devices. The prices of those four consumption basket components have exhibited a downward trend irrespective of what is going on with the rest of consumption process for already five years. The results are supported by the evidence from VAR

The Relativity Theory Revisited: Is Publishing Interest Rate Forecasts Really so Valuable?

In a New Keynesian model with asymmetric information we show that publication of macroeconomic projections and of the future interest rate path by the central bank can improve macroeconomic outcomes. However, the gains from publishing interest rate paths are small relative to those from publishing macroeconomic projections. Given that most inflation targeting central banks are already publishing macroeconomic projections this means that most gains from increasing transparency in this area may already have been reaped. This, together with the potential costs, may explain the relative reluctance of central banks to publish interest rate paths

The Relativity Theory Revisited: Is Publishing Interest Rate Forecasts Really so Valuable?

In a New Keynesian model with asymmetric information we show that publication of macroeconomic projections and of the future interest rate path by the central bank can improve macroeconomic outcomes. However, the gains from publishing interest rate paths are small relative to those from publishing macroeconomic projections. Given that most inflation targeting central banks are already publishing macroeconomic projections this means that most gains from increasing transparency in this area may already have been reaped. This, together with the potential costs, may explain the relative reluctance of central banks to publish interest rate paths

Beaver-Dredged Canals and their Spacial Relationship to Beaver-Cut Stumps

Castor canadensis Kuhl (North American beavers) are central place foragers whocollect woody plants and building materials from their surroundings and return to a main body of water containing a lodge or food cache. It has been suggested that beavers dredge water-filled canals to extend access to foraging areas; however, the possibility that these engineered transportation routes function as extensions to the beavers\u27 central place has yet to be considered. Our objective in this study was to gain a better understanding of the formation and utilization of canals by beavers and thus further elucidate the complex foraging behavior of these ecosystem engineers. During 2004–2011, we mapped beaver ponds, canals, and cut stumps in eight groundwater-fed wetlands, from at least four separate colonies, in Indianapolis, IN. We found that the mean length, depth, and width of the beaver-dredged canals were 604.3 6 493.1 m, 28.0 6 22.2 cm, and 107.7 6 107.1 cm respectively. Two of the canal systems were mapped for multiple years and their length, depth, and width increased over time and supported the prediction that beavers continuously engineer these canal systems to extend their foraging area into new locations. In addition, and in contrast to previous studies, we found that the number of beaver-cut stumps was negatively related to distance from canals, but not from the body of water containing their lodges. We recommend that studies of optimal foraging in beavers take canals into account, where applicable, when relating foraging to distance from the central place