Ceramics for engines

The NASA Lewis Research Center's Ceramic Technology Program is focused on aerospace propulsion and power needs. Thus, emphasis is on high-temperature ceramics and their structural and environmental durability and reliability. The program is interdisciplinary in nature with major emphasis on materials and processing, but with significant efforts in design methodology and life prediction

Ceramics for engines

Structural ceramics were under nearly continuous development for various heat engine applications since the early 1970s. These efforts were sustained by the properties that ceramics offer in the areas of high-temperature strength, environmental resistance, and low density and the large benefits in system efficiency and performance that can result. The promise of ceramics was not realized because their brittle nature results in high sensitivity to microscopic flaws and catastrophic fracture behavior. This translated into low reliability for ceramic components and thus limited their application in engines. For structural ceramics to successfully make inroads into the terrestrial heat engine market requires further advances in low cost, net shape fabrication of high reliability components, and improvements in properties such as toughness, and strength. These advances will lead to very limited use of ceramics in noncritical applications in aerospace engines. For critical aerospace applications, an additional requirement is that the components display markedly improved toughness and noncatastrophic or graceful fracture. Thus the major emphasis is on fiber-reinforced ceramics

A Robust Multi-Dimensional Poverty Profile for Uganda

In this paper we compute a multi-dimensional poverty index (MPI) for Uganda following the approach proposed by Alkire and Forster (2007). Using household survey data we show how the incidence of multi-dimensional poverty has fallen in recent years and we use the decomposability features of the index to explain the drivers of reduction in multi-dimensional poverty. We also compare the results from Uganda with other countries for which the MPI has been computed and we note some caveats in such a comparison. The robustness of our estimates is tested in a stochastic dominance framework and using statistical inference. Notably, we extend the one-dimensional analysis of stochastic dominance to take into account household size in a second dimension, which is particularly important as some of the MPI indicators are sensitive to the number of household members. By exploiting a unique subsample of the integrated household survey programme in Uganda, which has not previously been analysed, we are also able to match the data-set used for the MPI with data used to compute the conventional estimates of monetary poverty. This enables a more robust assessment of the complementarities of the two types of poverty measures than has been previously possible.multidimensional poverty, counting approach, Uganda, household size, robustness analysis, international comparisons.

Banking systems around the globe : do regulation and ownership affect the performance and stability?

The authors report cross-country data on commercial bank regulation and ownership in more than 60 countries. They evaluate the links between different regulatory/ownership practices in those countries and both financial sector performance and banking system stability. They document substantial variation in response to these questions: Should it be public policy to limit the powers of commercial banks to engage in securities, insurance, and real estate activities? Should the mixing of banking and commerce be restricted by regulating commercial bank's ownership of non-financial firms and non-financial firms'ownership of commercial banks? Should states own commercial banks, or should those banks be privatized? They find: 1) There is no reliable statistical relationship between restrictions on commercial banks'ability to engage in securities, insurance, and real estate transactions and how well-developed the banking sector, how well-developed securities markets and non-bank financial intermediaries are, or the degree of industrial competition. Based on the evidence, it is difficult to argue confidently that restricting commercial banking activities benefits-or harms-the development of financial and securities markets or industrial competition. 2) There are no positive effects from mixing banking and commerce. 3) Countries that more tightly restrict and regulate the securities activities of commercial banks are substantially more likely to suffer a major banking crisis. Countries whose national regulations inhibit banks'ability to engage in securities underwriting, brokering, and dealing--and all aspects of the mutual fund business--tend to have more fragile financial systems. 4) The mixing of banking and commerce is associated with less financial stability. The evidence does not support admonitions to restrict the mixing of banking and commerce because mixing them will increase financial fragility. 5) On average, greater state ownership of banks tends to be associated with more poorly developed banks, nonbanks, and stock markets and more poorly functioning financial systems.Banks&Banking Reform,Payment Systems&Infrastructure,Financial Intermediation,Financial Crisis Management&Restructuring,Decentralization,Banks&Banking Reform,Financial Intermediation,Financial Crisis Management&Restructuring,Environmental Economics&Policies,Economic Theory&Research

The Mathematical Roots Of Russell’s Naturalism And Behaviorism

Until relatively recently, the main focus of interest in Russell’s philosophy, has been, I think it is fair to say, on his views from his 1905 paper “On Denoting” through his 1918 lectures ”The Philosophy of Logical Atomism”. Such a focus does not involve distinguishing Russell’s early Moore–influenced post–Idealist position from the views he accepted in the wake of the 1900 Paris Congress or considering the interplay between these two aspects of Russell’s development in his 1903 book, The Principles of Mathematics; nor does it involve any consideration of his concerns with “the problems connected with meaning” that are reflected in such post–1918 publications as “On Propositions: What They Are and How They Mean” or The Analysis of Mind. Recently, there has been a growing awareness that Russell’s post–1918 writings call into question the sort of picture that Rorty presents of the relation of Russell’s philosophy to the views of subsequent figures such as the later Wittgenstein, Quine, and Sellars. As I will argue in this paper, those writings show that by the early 1920’s Russell himself was advocating views—including an anti-foundationalist naturalized epistemology, and a behaviorist–inspired account of what is involved in understanding language—that are more typically associated with philosophers from later decades whom are mistakingly often rpesented as dismantling Russell’s philosophy

The regulation and supervision of banks around the world - a new database

International consultants on bank regulation, and supervision for developing countries, often base their advice on how their home country does things, for lack of information on practice in other countries. Recommendations for reform have tended to be shaped by bias rather than facts. To better inform advice about bank regulation, and supervision, and to lower the marginal cost of empirical research, the authors present, and discuss a new, and comprehensive database on the regulation, and supervisionof banks in a hundred and seven countries. The data, based on surveys sent to national bank regulatory, supervisory authorities, are now available to researchers, and policymakers around the world. The data cover such aspects of banking as entry requirements, ownership restrictions, capital requirements, activity restrictions, external auditing requirements, characteristics of deposit insurance schemes, loan classification and provisioning requirements, accounting and disclosure requirements, troubled bank resolution actions, and (uniquely) the quality of supervisory personnel, and their actions. The database permits users to learn how banks are currently regulated, and supervised, and about bank structures, and deposit insurance schemes, for a broad cross-section of countries. In addition to describing the data, the authors show how variables ay be grouped, and aggregated. They also show some simple correlations among selected variables. In a comparison paper ("Bank regulation and supervision: What works best") studying the relationship between differences in bank regulation and supervision, and bank performance and stability, they conclude that: 1) Countries with policies that promote private monitoring of banks, have better bank performance, and more stability. Countries with more generous deposit insurance schemes tend to have poorer bank performance, and more bank fragility. 2) Diversification of income streams, and loan portfolios - by not restricting bank activities - also tends to improve performance, and stability. (This works best when an active securities market exists). Countries in which banks are encouraged to diversify their portfolios, domestically and internationally, suffer fewer crisis.Banks&Banking Reform,Economic Theory&Research,Payment Systems&Infrastructure,Financial Intermediation,Financial Crisis Management&Restructuring,Banks&Banking Reform,Financial Intermediation,Financial Crisis Management&Restructuring,Economic Theory&Research,Insurance&Risk Mitigation

Financial Regulation And Performance: Cross-Country Evidence

This paper examines three questions. First, do countries with relatively weak government/ bureaucratic systems impose harsher regulatory restrictions on activities of banks? Second, do countries with more restrictive regulatory systems have poorly functioning banking systems? Third, do countries with more restrictive regulatory systems have a lower probability of suffering a banking crisis? We find that the answers are as follows. Countries with weak government/ bureaucratic systems tend to impose harsher regulatory restrictions on the activities of banks. There is mixed evidence regarding the impact of regulatory restrictions on bank performance. Finally, we find that countries that restrict securities market activities tend to have more fragile banking systems.