Resource Price Turbulence and Macroeconomic Adjustment for a Resource Exporter: a conceptual framework for policy analysis

Increased global demand for energy and other resources, particularly from the rapidly developing economies of China and India and the opening up of global resource markets to global investors and speculative activity, has resulted in considerable recent turbulence in resource prices. The recent magnitude of change in resource prices, both positive and negative, and their macroeconomic implications is of considerable contemporary importance to both resource importing and exporting economies. For a resource exporting economy, such as that of Australia, the recent resource price boom has resulted in: increased government taxation revenue, increased employment and wages in the resource and resource related sectors, increased spending in the domestic economy that contributed to buoyant economic growth, increased resource exports to the booming economies of China and India and contributed to a stronger domestic currency with beneficial effects upon inflation. On the other hand these developments have had adverse effects on the non resource sector by: subjecting it to more intense competition for limited resources, contributing to a loss of international competitiveness and reduced exports arising from a stronger exchange rate, reducing employment in the relatively more labour intensive non resource sector, and contributing to an eventual slow down in the overall economy. These positive and negative effects, and the overall impact of a resource price boom, require a fundamentally closer analysis of the structure of the economy under scrutiny. In this context the policy response by government is likely to be pivotal in determining the overall macroeconomic outcomes from a resource price boom. The aim of this paper is to develop a generic analytical framework to appraise economic outcomes in the wake of a resource price boom for a resource producing and exporting economy. To this end a dynamic long run macroeconomic model is developed, emphasising the important role and contribution of government fiscal policy in influencing subsequent macroeconomic outcomes. The adjustment process in the model arising from a resource price shock emphasises a spending (or wealth) effect, an income effect, a revenue effect, a current account effect and an exchange rate effect, which facilitate a robust analysis of subsequent macroeconomic outcomes from such a shock as well as related policy responses.Resource price shock, dynamic macroeconomic model, simulation analysis, macroeconomic adjustment, policy analysis

The accuracy of dynamic attitude propagation

Propagating attitude by integrating Euler's equation for rigid body motion has long been suggested for the Earth Radiation Budget Satellite (ERBS) but until now has not been implemented. Because of limited Sun visibility, propagation is necessary for yaw determination. With the deterioration of the gyros, dynamic propagation has become more attractive. Angular rates are derived from integrating Euler's equation with a stepsize of 1 second, using torques computed from telemetered control system data. The environmental torque model was quite basic. It included gravity gradient and unshadowed aerodynamic torques. Knowledge of control torques is critical to the accuracy of dynamic modeling. Due to their coarseness and sparsity, control actuator telemetry were smoothed before integration. The dynamic model was incorporated into existing ERBS attitude determination software. Modeled rates were then used for attitude propagation in the standard ERBS fine-attitude algorithm. In spite of the simplicity of the approach, the dynamically propagated attitude matched the attitude propagated with good gyros well for roll and yaw but diverged up to 3 degrees for pitch because of the very low resolution in pitch momentum wheel telemetry. When control anomalies significantly perturb the nominal attitude, the effect of telemetry granularity is reduced and the dynamically propagated attitudes are accurate on all three axes

Strength, Beauty, and Resilience: The Impact of Self Reflection & Exploration of Memory on Postmodern Feminist Educators, Inside and Outside the Classroom

This study utilizes an autoethnographic methodology, informed by narrative inquiry, to explore the impact of memories on feminist educators. The participants in the study included two of the researcher’s former colleagues and one former student. The study\u27s goal was to examine how the relationships between researcher and participant and the memories they shared impacted them as educators; in the process, the concept of authenticity in educators was examined in relation to the research and the participants’ feminist and postmodern approach. The researcher collected qualitative data through interviews, personal journals, timelining, and an epistolary writing exercise to define authenticity and explore the characteristics of feminist and postmodern educators. The data highlighted the most important traits found in these educators and the researcher\u27s characteristics to examine how these traits developed through a lifetime of educational experiences. Rooted in a feminist leadership theoretical framework and framed by postmodernism and educator critical reflection, the study highlights how critical reflection of memories is meaningful for educators; it enables them to make deeper connections with students and colleagues

The effects of seasonal and latitudinal earth infrared radiance variations on ERBS attitude control

Analysis performed in the Flight Dynamics Facility by the Earth Radiation Budget Satellite (ERBS) Attitude Determination Support team illustrates the pitch attitude control motion and roll attitude errors induced by Earth infrared (IR) horizon radiance variations. IR scanner and inertial reference unit (IRU) pitch and roll flight data spanning 4 years of the ERBS mission are analyzed to illustrate the changes in the magnitude of the errors on time scales of the orbital period, months, and seasons. The analysis represents a unique opportunity to compare prelaunch estimates of radiance-induced attitude errors with flight measurements. As a consequence of this work the following additional information is obtained: an assessment of an average model of these errors and its standard deviation, a measurement to determine and verify previously proposed corrections to the current Earth IR radiance data base, and the possibility of a mean motion model derived from flight data in place of IRU data for ERBS fine attitude determination

Resource price turbulence and macroeconomic adjustment for a resource exporter: a conceptual framework for policy analysis

Increased global demand for energy and other resources, particularly from the rapidly developing economies of China and India and the opening up of global resource markets to global investors and speculative activity, has resulted in considerable recent turbulence in resource prices. The recent magnitude of change in resource prices, both positive and negative, and their macroeconomic implications is of considerable contemporary importance to both resource importing and exporting economies. For a resource exporting economy, such as that of Australia, the recent resource price boom has resulted in: increased government taxation revenue, increased employment and wages in the resource and resource related sectors, increased spending in the domestic economy that contributed to buoyant economic growth, increased resource exports to the booming economies of China and India and contributed to a stronger domestic currency with beneficial effects upon inflation. On the other hand these developments have had adverse effects on the nonresource sector by: subjecting it to more intense competition for limited resources, contributing to a loss of international competitiveness and reduced exports arising from a stronger exchange rate, reducing employment in the relatively more labour intensive non-resource sector, and contributing to an eventual slow down in the overall economy. These positive and negative effects, and the overall impact of a resource price boom, require a fundamentally closer analysis of the structure of the economy under scrutiny. In this context the policy response by government is likely to be pivotal in determining the overall macroeconomic outcomes from a resource price boom. The aim of this paper is to develop a generic analytical framework to appraise economic outcomes in the wake of a resource price boom for a resource producing and exporting economy. To this end a dynamic long run macroeconomic model is developed, emphasising the important role and contribution of government fiscal policy in influencing subsequent macroeconomic outcomes. The adjustment process in the model arising from a resource price shock emphasises a spending (or wealth) effect, an income effect, a revenue effect, a current account effect and an exchange rate effect, which facilitate a robust analysis of subsequent macroeconomic outcomes from such a shock as well as related policy responses

Resource price turbulence and macroeconomic adjustment for a resource exporter: a conceptual framework for policy analysis

Increased global demand for energy and other resources, particularly from the rapidly developing economies of China and India and the opening up of global resource markets to global investors and speculative activity, has resulted in considerable recent turbulence in resource prices. The recent magnitude of change in resource prices, both positive and negative, and their macroeconomic implications is of considerable contemporary importance to both resource importing and exporting economies. For a resource exporting economy, such as that of Australia, the recent resource price boom has resulted in: increased government taxation revenue, increased employment and wages in the resource and resource related sectors, increased spending in the domestic economy that contributed to buoyant economic growth, increased resource exports to the booming economies of China and India and contributed to a stronger domestic currency with beneficial effects upon inflation. On the other hand these developments have had adverse effects on the nonresource sector by: subjecting it to more intense competition for limited resources, contributing to a loss of international competitiveness and reduced exports arising from a stronger exchange rate, reducing employment in the relatively more labour intensive non-resource sector, and contributing to an eventual slow down in the overall economy. These positive and negative effects, and the overall impact of a resource price boom, require a fundamentally closer analysis of the structure of the economy under scrutiny. In this context the policy response by government is likely to be pivotal in determining the overall macroeconomic outcomes from a resource price boom. The aim of this paper is to develop a generic analytical framework to appraise economic outcomes in the wake of a resource price boom for a resource producing and exporting economy. To this end a dynamic long run macroeconomic model is developed, emphasising the important role and contribution of government fiscal policy in influencing subsequent macroeconomic outcomes. The adjustment process in the model arising from a resource price shock emphasises a spending (or wealth) effect, an income effect, a revenue effect, a current account effect and an exchange rate effect, which facilitate a robust analysis of subsequent macroeconomic outcomes from such a shock as well as related policy responses

Development of OCSS In-Suit Urine Collection and Removal System for Cabin Depressurization Scenario

NASA is developing a waste management system for use in a pressurizable space suit for future Orion missions. Driven by Orion's cabin depress operational scenario, specific life support equipment is needed for crew survival. Immediate life-sustaining resources can be provided by the Orion launch and entry suit as a pressurizable safe haven. Before long, though, the crew would also need an appropriate waste management system to maintain their crew health in a confined environment, especially over multiple days. Long-duration waste management hardware for use with a space suit has not been designed or utilized since the Apollo program, and there are numerous technical challenges associated with its implementation. In conjunction both NASA's Orion Crew Survival Systems (OCSS) and Omni Medical Systems are addressing such challenges through their on-going hardware design efforts to support future Orion missions. This paper details some of the initial design and testing efforts that have been completed while discussing the major challenges that have arisen in the process