Maximum Sustainable Government Debt in the Overlapping Generations Model.

The theoretical determinants of maximum sustainable government debt are investigated using Diamond's overlapping-generations model. A level of debt is defined to be 'sustainable' f a steady state with non-degenerate values of economic variables exists. We show that a maximum sustainable level of debt almost always exists. Most interestingly, it normally occurs at a 'catastrophe' ather than a 'degeneracy' , i.e. where variables such as capital and consumption are in the interiors, rather than at the limits, of their economically meaningful ranges. This means that if debt is increased step by step, the economy may suddenly collapse without obvious warning.GOVERNMENT DEBT ; OVERLAPPING GENERATIONS

Is there a close association between "soils" and "vegetation"? : A case study from central western New South Wales

The assumption that ‘soils’ and ‘vegetation’ are closely associated was tested by describing soils and vegetation along a Travelling Stock Reserve west of Grenfell, New South Wales (lat 33° 55’S, long 147° 45’E). The transect was selected on the basis of (a) minimising the effects of non-soil factors (human interference, climate and relief) on vegetation and (b) the presence of various soil and vegetation types as indicated by previous mapping. ‘Soils’ were considered at three levels: soil landscapes (a broad mapping unit widely used in central western NSW), soil types (according to a range of classifications) and soil properties (depth, pH, etc.). ‘Vegetation’ was considered in three ways: vegetation type (in various classifications), density/floristic indices (density of woody species, abundance of native species, etc.) and presence/absence of individual species. Sites along the transect were grouped according to soil landscapes or soil types and compared to vegetation types or indices recorded at the sites. Various measures indicated low associations between vegetation types and soil landscapes or soil types. Except for infrequent occurrences of a soil type or landscape, any one soil type or landscape was commonly associated with a number of vegetation types and any one vegetation type was associated with a number of soil landscapes or soil types. However, significant associations between some vegetation indices, mainly density or numbers of woody species, and some soil landscapes and soil types were evident. Although many species were relatively ubiquitous, some groups of species that were restricted to one or two soil types were identified. Canonical Correspondence Analysis provided some suggestions as to which properties (e.g. texture) of these soils were associated with the presence of particular species

King County: A Case Study Model for Strategic Planning in College Aviation Learning

Case studies help students prepare for real-world problems, situations and crises by providing an approximation of various professional environments. Thus, through the examination of specific cases, students are given the opportunity to work issues through the trials, tribulations, experiences, and research findings of others. An obvious advantage to this mode of instruction is that it allows students the exposure to settings and contexts that they might not otherwise experience. One way to study airport issues is through the use of strategic planning case studies. Strategic planning is a process of developing a map or route an airport will follow which identifies what products are to be provided to which customers, where they will be provided, and at what price. Based on the vision and mission statements previously developed, strategic planning summarizes the basic operational tasks, goals, objectives, strategies, and tactics for the airport organization. In this a paper strategic planning, and more particularly a strengths, weaknesses, opportunities, and threats (SWOT) case study analysis is used to evaluate King County International Airport (KCIA). This case study is a suggested model for development of future airport case studies to be used in the collegiate aviation learning environment

Pulsar "Drifting"-Subpulse Polarization: No Evidence for Systematic Polarization-Angle Rotations

Polarization-angle density displays are given for pulsars B0809+74 and B2303+30, which exhibit no evidence of the systematic polarization-angle rotation within individual subpulses previously reported for these two stars. The ``drifting'' subpulses of both pulsars exhibit strikingly linear and circular polarization which appears to reflect the characteristics of two nearly orthogonally polarized emission ``modes''--along which the severe average-profile depolarization that is characteristic of their admixture at comparable overall intensities.Comment: Accepted for publication in Astronomy & Astrophysic

Four rural cemeteries in central western NSW: Islands of Australiana in a European sea?

Vascular plants present in groundstoreys of variously–managed areas in four cemeteries in central western NSW – two on the Central Western Slopes (Garra and Toogong) and two on the Central Tablelands (Lyndhurst and Carcoar) – were recorded over periods of 6–10 years. It was hypothesised that (a) areas of the cemeteries with a history of nil or low disturbance would represent high quality remnant vegetation (i.e. contain a diversity of native species but few naturalised species), and (b) that clearing of woody vegetation, together with similar management (e.g. regular mowing) would result in homogenisation of the groundstoreys such that many species, native and naturalised, would be common to all sites. 344 species (176 native, 154 naturalised and 14 non–naturalised exotics) were recorded across the four cemeteries. Many native species that were rare in the surrounding agricultural lands were present in the cemeteries (enhancing their value as conservation areas) but no cemetery contained areas of groundstorey that would qualify as ‘pristine’. Across all management areas, the proportions of naturalised species in the native + naturalised floras of the cemeteries ranged from 46 to 55 %. Though never dominant, naturalised species also comprised high proportions (42 to 51 %) of the floras of the least disturbed (nil or infrequently mown) areas within each cemetery. Many (40 %) of the species recorded occurred at only one cemetery. This partly explained why the floras of similarly– managed parts of cemeteries on the Central Western Slopes were, contrary to expectations, markedly different to those on the Central Tablelands. However, within the same botanic subdivision, floras – particularly of naturalised species in regularly mown grasslands – were more similar (‘homogenised’) than those of nil or infrequently mown grasslands

General Aviation Security: A Safety Management System Model for Collegiate Learning

A well constructed plan-do-check-act (PDCA) tool, in the context of a Safety Management System (SMS), and incorporating a structured field survey, can help students prepare for real-world problems, situations and crises in general aviation (GA) security by providing an actual professional environment to study. Thus, through the examination of an actual GA airport, students are given the opportunity to work issues through the trials, tribulations, experiences, and research findings of others. In this paper all the elements of GA airport security plan are analyzed at the collegiate level. It is suggested that this PDCA tool be implemented as a SMS model for the study of future airport security comes used in the collegiate environment