Transparency, trade costs, and regional integration in the Asia Pacific

The authors show in this paper that increasing the transparency of the trading environment can be an important complement to traditional liberalization of tariff and non-tariff barriers. Our definition of transparency is grounded in a transaction cost analysis. The authors focus on two dimensions of transparency: predictability (reducing the cost of uncertainty) and simplification (reducing information costs). Using the Asia Pacific Economic Cooperation (APEC) member economies as a case study, the authors construct indices of importer and exporter transparency for the region from a wide range of sources. Our results from a gravity model suggest that improving trade-related transparency in APEC could hold significant benefits by raising intra-APEC trade by proximately USD 148 billion or 7.5 pecent of baseline trade in the region.Economic Theory&Research,Free Trade,Emerging Markets,Debt Markets,Trade Policy

Aid for trade facilitation

Does foreign aid spent on trade facilitation increase trade flows of developing countries? There is an on-going and high profile discussion of aid-for-trade associated with the Doha negotiations of the World Trade Organization. There continue also questions about how best to achieve the Millennium Development Goals. The analysis in this paper explicitly considers how to target aid most effectively to increase trade – a fundamental question related to the crisis and policy debate over restarting the world trading system. Using detailed data on aid flows from the OECD, the analysis here estimates the responsiveness of trade flows to specific types of foreign aid. The findings indicate that aid directed toward promoting trade enhances the trade performance of recipient countries: a 1 percent increase in aid directed toward trade policy and regulatory reform (amounting to about US$11.7 million more such aid) could generate an increase in global trade of about US$818 million. This yields a"rate of return"on every dollar of this type of aid of about US$697 in additional trade. As the dollar aid flow is relatively small, such targeted aid mitigates concerns about absorptive capacity and real exchange rate appreciation, which may accompany larger disbursements.

Quantifying effective slip length over micropatterned hydrophobic surfaces

We employ micro-particle image velocimetry ($\mu$-PIV) to investigate laminar micro-flows in hydrophobic microstructured channels, in particular the slip length. These microchannels consist of longitudinal micro-grooves, which can trap air and prompt a shear-free boundary condition and thus slippage enhancement. Our measurements reveal an increase of the slip length when the width of the micro-grooves is enlarged. The result of the slip length is smaller than the analytical prediction by Philip et al. [1] for an infinitely large and textured channel comprised of alternating shear-free and no-slip boundary conditions. The smaller slip length (as compared to the prediction) can be attributed to the confinement of the microchannel and the bending of the meniscus (liquid-gas interface). Our experimental studies suggest that the curvature of the meniscus plays an important role in microflows over hydrophobic micro-ridges.Comment: 8 page

EXO 2030+375 Restarts in Reverse

The Be X-ray binary pulsar EXO 2030+375, first detected in 1985, has shown a significant detected X-ray outburst at nearly every periastron passage of its 46-day orbit for the past ~25 years, with one low state accompanied by a torque reversal in the 1990s. In early 2015 the outbursts progressively became fainter and less regular while the monotonic spin-up flattened. At the same time a decrease in the H$\alpha$ line equivalent width was reported, indicating a change in the disk surrounding the mass donor. In order to explore the source behaviour in the poorly explored low-flux state with a possible transition to a state of centrifugal inhibition of accretion we have undertaken an observing campaign with Swift/XRT, NuSTAR and the Nordic Optical Telescope (NOT). This conference contribution reports the preliminary results obtained from our campaign.Comment: 11th INTEGRAL Conference Gamma-Ray Astrophysics in Multi-Wavelength Perspective, 10-14 October 2016, Amsterdam, The Netherlands. 7 page

Is every toric variety an M-variety?

A complex algebraic variety X defined over the real numbers is called an M-variety if the sum of its Betti numbers (for homology with closed supports and coefficients in Z/2) coincides with the corresponding sum for the real part of X. It has been known for a long time that any nonsingular complete toric variety is an M-variety. In this paper we consider whether this remains true for toric varieties that are singular or not complete, and we give a positive answer when the dimension of X is less than or equal to 3.Comment: 13 page

Numerical evolution of axisymmetric, isolated systems in General Relativity

We describe in this article a new code for evolving axisymmetric isolated systems in general relativity. Such systems are described by asymptotically flat space-times which have the property that they admit a conformal extension. We are working directly in the extended `conformal' manifold and solve numerically Friedrich's conformal field equations, which state that Einstein's equations hold in the physical space-time. Because of the compactness of the conformal space-time the entire space-time can be calculated on a finite numerical grid. We describe in detail the numerical scheme, especially the treatment of the axisymmetry and the boundary.Comment: 10 pages, 8 figures, uses revtex4, replaced with revised versio

Spectral and Timing Analysis of the accretion-powered pulsar 4U 1626-67 observed with Suzaku and NuSTAR

We present an analysis of the spectral shape and pulse profile of the accretion-powered pulsar 4U 1626-67 observed with Suzaku and NuSTAR during a spin-up state. The pulsar, which experienced a torque reversal to spin-up in 2008, has a spin period of 7.7 s. Comparing the phase-averaged spectra obtained with Suzaku in 2010 and with NuSTAR in 2015, we find that the spectral shape changed between the two observations: the 3-10 keV flux increased by 5% while the 30-60 keV flux decreased significantly by 35%. Phase-averaged and phase-resolved spectral analysis shows that the continuum spectrum observed by NuSTAR is well described by an empirical NPEX continuum with an added broad Gaussian emission component around the spectral peak at 20 keV. Taken together with the observed Pdot value obtained from Fermi/GBM, we conclude that the spectral change between the Suzaku and NuSTAR observations was likely caused by an increase of the accretion rate. We also report the possible detection of asymmetry in the profile of the fundamental cyclotron line. Furthermore, we present a study of the energy-resolved pulse profiles using a new relativistic ray tracing code, where we perform a simultaneous fit to the pulse profiles assuming a two-column geometry with a mixed pencil- and fan-beam emission pattern. The resulting pulse profile decompositions enable us to obtain geometrical parameters of accretion columns (inclination, azimuthal and polar angles) and a fiducial set of beam patterns. This information is important to validate the theoretical predictions from radiation transfer in a strong magnetic field.Comment: 19 pages, 14 figures, Accepted for publication in ApJ on May 5, 201