3,815 research outputs found
Borrowing from thy neighbour : a European perspective on sovereign debt
European capital markets show increasing concern about the extent
of sovereign debts and their sustainability. Here we explore some
insights that the Overlapping Generations (OLG) framework has to
er on such issues. The OLG framework implies, for example, that
there is a limit to the amount of debt that may be sustained in a
closed economy | with high debt raising interest rates and crowding
out capital formation. But capital market integration with less
indebted partners allows for a fall in interest rates as a result of borrowing
from one's neighbour. Indeed we nd that | in equilibrium
| most of the debt of a high indebted country will be transferred to
partner countries.
Rather like ECB discount policy, our formal analysis is conducted
without taking sovereign default risk properly into account, however.
We go on to discuss three possible sources of default risk | creditor
panic, exogenous interest rate shocks and \over-borrowing" | and we
emphasize the need for comparative statics to be complemented by
disequilibrium dynamics
Borrowing from thy neighbour: a European perspective on sovereign debt
European capital markets show increasing concern about the extent of sovereign debts and their sustainability. Here we explore some insights that the Overlapping Generations (OLG) framework has to offer on such issues. The OLG framework implies, for example, that there is a limit to the amount of debt that may be sustained in a closed economy- with high debt raising interest rates and crowding out capital formation. But capital market integration with less indebted partners allows for a fall in interest rates as a result of borrowing from one's neighbour. Indeed we find that - in equilibrium - most of the debt of a high indebted country will be transferred to partner countries.debt sustainability, overlapping generations, sovereign default, Euro-zone debt crisis
Graphical Methods in Device-Independent Quantum Cryptography
We introduce a framework for graphical security proofs in device-independent
quantum cryptography using the methods of categorical quantum mechanics. We are
optimistic that this approach will make some of the highly complex proofs in
quantum cryptography more accessible, facilitate the discovery of new proofs,
and enable automated proof verification. As an example of our framework, we
reprove a previous result from device-independent quantum cryptography: any
linear randomness expansion protocol can be converted into an unbounded
randomness expansion protocol. We give a graphical proof of this result, and
implement part of it in the Globular proof assistant.Comment: Publishable version. Diagrams have been polished, minor revisions to
the text, and an appendix added with supplementary proof
Implementing field portable x-ray fluorescence during environmental investigations for radioactive materials
During sampling or remediation of radiologically contaminated sites quantitative results are needed to determine where to sample or where to excavate soils. Although some portable gamma spectroscopy equipment does exist for field identification of radionuclides, they are not commonly used during remedial investigations. The current, and very common, process for sampling involves scanning soil with field portable gross measuring radiation detectors (i.e. Sodium Iodide, Scintillation, etc) that measure counts per minute of ionizing radiation; this does not give any information on the nuclides present or their concentrations in the soil. Samples are then collected at biased locations, based on the results of the field detectors, and sent to an on-site or off-site laboratory for analysis (i.e. gamma-spectroscopy, alpha-spectroscopy, etc) to determine what nuclides are in the soil and quantitate their concentration. If an on-site laboratory is not used it may take a few weeks to receive data back from off-site analysis, which inhibits real-time decision making while sampling and adds costs to a project. One potential method to determine real-time concentrations of metals in soil is through the use of a field portable x-ray fluorescence (XRF) device. This thesis will examine the relationship between laboratory isotopic thorium and uranium to XRF results of elemental uranium and thorium which are contaminants of concern found at Formally Utilized Remedial Action Program (FUSRAP) sites. The FUSRAP properties were contaminated during the United States early atomic weapons era and are being remediated by the United States Army Corps of Engineers (USACE) as part of a federal remediation program. Both thorium and uranium are radioactive metals that will be investigated to determine if XRF devices can detect their presence at environmental levels of significance to assist in the investigation and remediation of future FUSRAP projects
IS YIELD RESPONSE SITE-SPECIFIC? REVISITING NITROGEN RECOMMENDATIONS ON CORN
Replaced with revised version of paper 08/19/02.Crop Production/Industries,
Evaluation of microleakage of RSA Roekoseal Automix root canal sealer
The sealing ability of RSA Roekoseal Automix root canal sealer using ThermaFil Plus and cold lateral condensation was compared to Roth\u27s 801 root canal sealer. Fifty-two single canaled roots of extracted teeth were divided into four groups of twelve and instrumented to size 6 with .06 taper series 29 ProFiles. Group A canals were obturated with ThermaFil and Roth\u27s 801 sealer. Group B canals were obturated with ThermaFil and RSA Roekoseal Automix. Group C canals were obturated with cold lateral condensation and Roth\u27s 801 sealer. Group D canals were obturated with cold lateral condensation and RSA Roekoseal Automix. The linear penetration of ink was measured by two observers. Group B leaked significantly more than all other groups. RSA RoekoSeal Automix root canal sealer appears to seal as well as Roth\u27s 801 when using cold lateral condensation of gutta percha but not with ThermaFil Plus
How is co-leadership enacted in the Green Party of Aotearoa New Zealand : a 152.800 thesis presented in partial fulfilment of the requirements of the degree of Master of Management at Massey University
This research report explores the enactment of a gender-balanced co-leadership throughout
the organisation of the Green Party of Aotearoa New Zealand. This small-sized political
organisation has had representatives in parliament since 1996. Its experimental model of a
male and a female sharing positions arose out of the social movements of the baby boomer
generation. Gender-balanced co-leadership was devised as an exception to the norm of a
single leader (frequently presented as a heroic man). The metaphor of theatre is used to
frame a description of the stage-managed performance of Green Party political co-leaders. I
show how co-leaders have been portrayed over the life span of the party as if they were
characters in play. The re-presentation of co-leaders is illustrated by images, primarily taken
from the party magazine. Experiences of the enactment of this co-leader model are
interpreted through five interviews with key informants who have all held formal positions of
authority within the organisation. I provide an auto-ethnographic account as a party insider
illustrated by snapshots. The Green Party’s co-leadership model has endured over 25 plus
years. By virtue of longevity it has demonstrated a viable way of sharing position power
between two genders in a political party. Sharing positions in this organisation requires a
significant investment of effort to maintain the desired presentation of the relationship. The
lead actors are constrained to conform to the stage-setting. Parliamentary politics imposes
isomorphic forces of order and hierarchy. The enactment of co-leadership has become
increasingly gender stereotypical. Gender-balanced co-leadership is an experiment that has
become a conventional routine
WASP-12b as a prolate, inflated and disrupting planet from tidal dissipation
The class of exotic Jupiter-mass planets that orbit very close to their
parent stars were not explicitly expected before their discovery. The recently
found transiting planet WASP-12b has a mass Mp = 1.4(+/-0.1) Jupiter masses
(MJ), a mean orbital distance of only 3.1 stellar radii (meaning it is subject
to intense tidal forces), and a period of 1.1 days. Its radius 1.79(+/- 0.09)
RJ is unexpectedly large and its orbital eccentricity 0.049(+/-0:015) is even
more surprising as such close orbits are in general quickly circularized. Here
we report an analysis of its properties, which reveals that the planet is
losing mass to its host star at a rate ~ 10^-7 MJ yr^-1. The planets surface is
distorted by the stars gravity and the light curve produced by its prolate
shape will differ by about ten per cent from that of a spherical planet. We
conclude that dissipation of the stars tidal perturbation in the planets
convective envelope provides the energy source for its large volume. We predict
up to 10mJy CO band-head (2.292 micron) emission from a tenuous disk around the
host star, made up of tidally stripped planetary gas. It may also contain a
detectable resonant super-Earth, as a hypothetical perturber that continually
stirs up WASP-12b's eccentricity.Comment: Accepted to Nature, 14 pages, 1 figur
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