Computing Optimal Descriptions for Optimality Theory Grammars with Context-Free Position Structures

This paper describes an algorithm for computing optimal structural descriptions for Optimality Theory grammars with context-free position structures. This algorithm extends Tesar's dynamic programming approach [Tesar 1994][Tesar 1995] to computing optimal structural descriptions from regular to context-free structures. The generalization to context-free structures creates several complications, all of which are overcome without compromising the core dynamic programming approach. The resulting algorithm has a time complexity cubic in the length of the input, and is applicable to grammars with universal constraints that exhibit context-free locality.Comment: 7 pages, uses aclap.sty. To appear in ACL 199

A Re-Examination of the Border Effect

This paper reexamines the evidence on the border effect, the finding that the border drives a wedge between domestic and foreign prices. We argue that the border effect can be inflated by the volatility and persistence of the nominal exchange rate and by the cross-country heterogeneity in the distribution of within-country price differentials. We develop a simple framework to separate the border effect from these confounding factors. Using price data from Engel and Rogers (1996) and Parsley and Wei (2001), we show that after controlling for the confounding factors the border effect between the U.S. and Canada and the U.S. and Japan is negligible.

A Re-Examination of the Border Effect

This paper reexamines the evidence on the border effect, the finding that the border drives a wedge between domestic and foreign prices. We argue that the border effect can be inflated by the volatility and persistence of the nominal exchange rate and by the cross-country heterogeneity in the distribution of within-country price differentials. We develop a simple framework to separate the border effect from these confounding factors. Using price data from Engel and Rogers (1996) and Parsley and Wei (2001), we show that after controlling for the confounding factors the border effect between the U.S. and Canada and the U.S. and Japan is negligible.

Enhancement of synthetic jets by means of an integrated valve-less pump Part II. Numerical and experimental studies

The paper studies the performance of the new fluid jet actuator based on the novel principle of the generation of fluid jet, which has been presented in [Z. Travnicek, A.I. Fedorchenko, A.-B. Wang, Enhancement of synthetic jets by means of an integrated valve-less fluid pump. Part I. Design of the actuator, Sens. Actuators A, 120 (2005) 232-240]. The fluid jet actuator consists of a synthetic jet actuator and a valve-less pump. The resulting periodical fluid jet is intrinsically non-zero-net-mass-flux, in contrast to the traditional synthetic jet. The numerical results have been compared with the laboratory experiments comprising phase-locked smoke visualization and time-mean velocity measurements. The results have confirmed the satisfactory performance of the actuator

Far-infrared magnetotransmission of YBa2(ZnxCu(1-x))3O(7-d)

Measurements of the far infrared magnetotransmission of YBa2(ZnxCu(1-x))3O(7-d) thin film (x = 0.025) deposited on a wedged MgO substrate are reported. The application of magnetic field perpendicular to the ab plane produces at low temperature a linear increase of transmission for frequencies below 30 cm-1. We present a model of high frequency vortex dynamics which qualitatively explains these results.Comment: 2 pages with 2 figures, presented on LT2

Computer simulation and design of a three degree-of-freedom shoulder module

An in-depth kinematic analysis of a three degree of freedom fully-parallel robotic shoulder module is presented. The major goal of the analysis is to determine appropriate link dimensions which will provide a maximized workspace along with desirable input to output velocity and torque amplification. First order kinematic influence coefficients which describe the output velocity properties in terms of actuator motions provide a means to determine suitable geometric dimensions for the device. Through the use of computer simulation, optimal or near optimal link dimensions based on predetermined design criteria are provided for two different structural designs of the mechanism. The first uses three rotational inputs to control the output motion. The second design involves the use of four inputs, actuating any three inputs for a given position of the output link. Alternative actuator placements are examined to determine the most effective approach to control the output motion

ICT industry and resources based analysis of maintenance SME in the Central Europe

Highly competitive situation in Information and Communication technology (ICT) maintenance industry requires a precise analysis of all important factors and carefully defined company strategy which addresses each of these aspects. This paper presents a resource based analysis of family run SME, operating in IT parts and consumables market. In order to understand this complex view, it first describes the company background. It briefly presents the industry key success factors and company strategy of the SME. The value chain analysis helps to name the main organization’s capabilities and evaluates them in terms of costs and customer willingness to pay. Resource audit provides an analysis of key company tangible, intangible and human resources. The outcome of this audit shows that most of SME resources are of an intangible nature. Contrary to the higher mobility of today’s resources, intangible resources of SME such as company reputation, culture and strategic business relations, are mostly immobile and inimitable. Based on the audit all key resources and capabilities are appraised by their strength and importance relative to closest rivals. Results are presented in graph which recognizes the key strengths (family run business related) and weaknesses (IT and finance). The results of the resourced based analysis lead to recommendations for changes in order to create and retain competitive advantage.ICT, resource based analysis, resources, capabilities, strategy, SME, Institutional and Behavioral Economics, Research and Development/Tech Change/Emerging Technologies, Research Methods/ Statistical Methods, Resource /Energy Economics and Policy, GA, IN,

Multinationals and the Gains from International Diversification

One possible explanation for home bias is that investors may obtain indirect international diversification benefits by investing in multinational firms rather than by investing directly in foreign markets. This paper employs mean-variance spanning tests to examine the diversification potential of multinational firms and foreign market indices for investors domiciled in Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. We find that in most countries and most time periods, the portfolio of domestic stocks spans the risk and return opportunities of a portfolio that includes domestic and multinational stocks. However, there is weak evidence that U.S. multinationals provided global diversification benefits in the full 1984-92 sample and in the post-1987 subsample. We also find that the addition of foreign market indices to a domestic portfolio - inclusive of multinationals - provides diversification benefits. The economic importance of the shift of the portfolio frontier - measured as the utility gain from diversification - varies considerably from market to market and often reflects the benefits of large short positions in certain markets.

A Re-Examination of Exchange Rate Exposure

Finance theory suggests that changes in exchange rates should have little influence on asset prices in a world that has become increasingly with integrated capital markets. Indeed, the existing literature examining the relationship between international stock prices and exchange rates finds little evidence of systematic exchange rate exposure. We argue in this paper that the absence of evidence may be due to restrictions imposed on the sample of data and the empirical specifications used in previous studies. We study a broad sample of firms in eight countries over an eighteen-year period. We find that firm-level and industry-level share values are significantly influenced by exchange rates. Further, we do not find evidence that exchange rate exposure is falling (or becoming less statistically significant) over time. Our results suggest that significant firm, industry and country-specific differences remain even as financial markets become more and more 'integrated'.