9,669 research outputs found
Inflation Persistance and Credibility in Turkey During the Nineties
This study assesses the credibility of disinflation programs in Turkey during the nineties, where several
programs of reform took place. We investigate the credibility of these policies building on a previous research
made by Agenor and Taylor (1993). The model is based on two assumptions: (i) inflation is a serially correlated
process; (ii) the definition of a proxy that is able to measure the degree of credibility of a programme. The
empirical results show that there was a sharp loss of credibility at the end of the 1991 and at the beginning of
the 1994 and during the Asian crisis. The Program that the Central Bank implemented after the crisis was able
to increase the level of credibility of the CBRT policies. Loss of credibility is registered during the end of the
1995, while various political events took place and during the 1997 following the world economic conditions
and the outflow of capitals
Three-dimensional implicit lambda methods
This paper derives the three dimensional lambda-formulation equations for a general orthogonal curvilinear coordinate system and provides various block-explicit and block-implicit methods for solving them, numerically. Three model problems, characterized by subsonic, supersonic and transonic flow conditions, are used to assess the reliability and compare the efficiency of the proposed methods
The role and nature of market sentiment in the 1992 ERM crisis.
This paper attempts to explain the importance of the role of the speculators in determining the 1992
ERM crisis, and the effects that the policy of maintaining external parity had on internal growth. We
focus on a different way through which expectations are formed about the macroeconomic
fundamentals independently of the behaviour of the monetary policy. In the present model, agentsâ
rational beliefs do not emerge from arbitrary circumstances but only when the value of the exchange
rate, kept under control by the central bank, did not correspond to the expected value and to the current
wide-spread beliefs in the market
Colour gradients of high-redshift Early-Type Galaxies from hydrodynamical monolithic models
We analyze the evolution of colour gradients predicted by the hydrodynamical
models of early type galaxies (ETGs) in Pipino et al. (2008), which reproduce
fairly well the chemical abundance pattern and the metallicity gradients of
local ETGs. We convert the star formation (SF) and metal content into colours
by means of stellar population synthetic model and investigate the role of
different physical ingredients, as the initial gas distribution and content,
and eps_SF, i.e. the normalization of SF rate. From the comparison with high
redshift data, a full agreement with optical rest-frame observations at z < 1
is found, for models with low eps_SF, whereas some discrepancies emerge at 1 <
z < 2, despite our models reproduce quite well the data scatter at these
redshifts. To reconcile the prediction of these high eps_SF systems with the
shallower colour gradients observed at lower z we suggest intervention of 1-2
dry mergers. We suggest that future studies should explore the impact of wet
galaxy mergings, interactions with environment, dust content and a variation of
the Initial Mass Function from the galactic centers to the peripheries.Comment: 13 pages, 7 figures, 1 table, accepted for publication on MNRA
Sustainability and welfare of Podolian cattle
The aim of the present study was to evaluate the sustainability and welfare of extensively farmed Podolian cattle. A trained interviewer visited 50 farms and filled in a checklist which included four cards corresponding to the following animal categories: calves, replacements, feeders and adults. The analysis of the farming system showed that animals were able to express their main behavioural patterns. In addition, recorded animal-related variables indicated that Podolian cattle could benefit from high standards of welfare. Sustainability of the Podolian farming system in terms of human edible returns was evaluated for two production systems producing 10-month-old calves (10 month) and 18-month-old young bulls (18 month), respectively. Edible returns for humans were low when all animal intakes were considered for both production systems. However, if returns were computed using not only the amount of food used by the animals but also consumable by humans, yields were much higher for 18-month systems [103% crude protein (CP) and 37.1% gross energy (GE)] and so high that they could not be computed for 10-month systems. These results indicate either a low degree of competition (18-month system) or no competition (10-month system) between humans and Podolian cattle. Perceptions of sustainability and welfare of Podolian cattle may promote a favourable positioning of products in premium-price markets and help preserving this breed and the related traditional farming system
Central dark matter content of early-type galaxies: scaling relations and connections with star formation histories
We examine correlations between masses, sizes and star formation histories for a large sample of low-redshift early-type galaxies, using a simple suite of dynamical and stellar population models. We confirm an anticorrelation between the size and stellar age and go on to survey for trends with the central content of dark matter (DM). An average relation between the central DM density and galaxy size of ăÏDMăâRâ2eff provides the first clear indication of cuspy DM haloes in these galaxies â akin to standard Î cold dark matter haloes that have undergone adiabatic contraction. The DM density scales with galaxy mass as expected, deviating from suggestions of a universal halo profile for dwarf and late-type galaxies. We introduce a new fundamental constraint on galaxy formation by finding that the central DM fraction decreases with stellar age. This result is only partially explained by the sizeâage dependencies, and the residual trend is in the opposite direction to basic DM halo expectations. Therefore, we suggest that there may be a connection between age and halo contraction and that galaxies forming earlier had stronger baryonic feedback, which expanded their haloes, or lumpier baryonic accretion, which avoided halo contraction. An alternative explanation is a lighter initial mass function for older stellar populations
Effect of information about organic production on beef liking and consumer willingness to pay
The present study was aimed to assess the effect of information about organic production on beef liking and consumer willingness to pay. Mean scores of perceived liking were higher for organic beef (OB) as
compared to conventional beef (CB). Expected liking scores were higher for OB than for CB. For OB the expected liking was significantly higher than the perceived liking expressed in blind conditions (negative disconfirmation), whereas for CB no difference was observed. Consumers completely assimilated their liking for OB in the direction of expectations. Consumers showed a willingness to pay for OB higher than the suggested price (P < 0.001), the latter corresponding to the local commercial value for organic beef.
We conclude that the information about organic farming can be a major determinant of beef liking, thus providing a potential tool for meat differentiation to traditional farms
Testing Verlinde's emergent gravity in early-type galaxies
Verlinde derived gravity as an emergent force from the information flow,
through two-dimensional surfaces and recently, by a priori postulating the
entanglement of information in 3D space, he derived the effect of the
gravitational potential from dark matter (DM) as the entropy displacement of
dark energy by baryonic matter. In Emergent Gravity (EG) this apparent DM
depends only on the baryonic mass distribution and the present-day value of the
Hubble parameter. In this paper we test the EG proposition, formalized by
Verlinde for a spherical and isolated mass distribution, using the central
velocity dispersion, and the light distribution in a sample of 4260
massive and local early-type galaxies (ETGs) from the SPIDER sample. Our
results remain unaltered if we consider the sample of 807 roundest field
galaxies. We derive the predictions by EG for the stellar mass-to-light ratio
(M/L) and the Initial Mass Function (IMF), and compare them with the same
inferences derived from a) DM-based models, b) MOND and c) stellar population
models. We demonstrate that, consistently with a classical Newtonian framework
with a DM halo component, or alternative theories of gravity as MOND, the
central dynamics can be fitted if the IMF is assumed non-universal. The results
can be interpreted with a IMF lighter than a standard Chabrier at low-,
and bottom-heavier IMFs at larger . We find lower, but still
acceptable, stellar M/L in EG theory, if compared with the DM-based NFW model
and with MOND. The results from EG are comparable to what is found if the DM
haloes are adiabatically contracted and with expectations from spectral
gravity-sensitive features. If the strain caused by the entropy displacement
would be not maximal, as adopted in the current formulation, then the dynamics
of ETGs could be reproduced with larger M/L. (abridged)Comment: 12 pages, 2 figures, submitted to MNRAS. The updated manuscript
presents significantly altered conclusions, after discovering an internal bug
in an older version of the Mathematica package, leading to incorrect
numerical results when calculating the derivatives of Gamma function
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