Purchasing Power Parity Revisited: A Time-Varying Parameter Approach

We re-examine the validity of Purchasing Power Parity (PPP) proposition using Taylor's (2002) data set. Applying the Kalman filter process, our findings not only demonstrate the strong instability in the relationship between the dollar denominated foreign price levels and the US price level, but also rule out the empirical validity of the PPP hypothesis. Thus, we argue that the inference based on the Fisher-Seater methodology cannot account for the Lucas critique in the PPP testing procedure.Purchasing power parity, Fisher-Seater, time-varying parameter, Kalman filter

Backbench

Backbench (2010) is a large-scale multi-channel video and architectural installation, which reflects on the conditions of art production and consumption that are established within the globalised system of art biennials. Moreover the work focuses on the production of cultural discourses and the consequent impact generated by these prevalent modes of exchange, on social, political, professional and likewise on individual levels. Backbench was commissioned and produced by Manifesta 8, the Region of Murcia, Spain in 2010

Preparation and Characterization of Catalysts for Efficient Hydrogen Production via the High Temperature Water Gas Shift Reaction

This thesis deals with the synthesis and characterization of nanostructured high performance noble metal catalysts for Water Gas Shift (WGS) reactions using single and double flame spray pyrolysis (FSP) as a preparation method. FSP is considered an appropriate method for preparation of catalysts with high specific surface area, highly dispersed active centers and high stability in a single step. FSP derived catalysts for WGS reactions have not yet been investigated deeply. Another equally important objective of this thesis was to study hydrogen selective membranes and the integrated flame made catalysts using advanced x-ray based techniques at synchrotron light sources under real operating conditions in a micro-structured membrane reactor

Hayfa el Mansur, Nappily Ever After (2018): Chasing Perfection

2018 Netflix movie Nappily Ever After voices the relationship of Black women with their natural hair and try to free them from the white beauty ideals imposed by the modern culture. By delving into historical connotations, this film review aims to understand how and why stereotypical narratives about African-American beauty and hair exist in media and shows the societal and psychological consequences of underrepresentation

Privacy Controls and Disclosure Behavior

We examine the relationship among privacy controls, dynamic content-sharing activities, and disclosure patterns of Facebook users based on the exogenous policy change in December 2009 that introduced granular privacy controls. Using a unique large panel dataset, we empirically assess the short-run and long-run effects of the change on wall posting and private messaging and the resulting disclosure patterns based on these sharing activities. Results show that Facebook users, on average, increase use of wall posts and decrease use of private messages after the introduction of granular privacy controls. Also, users’ disclosure patterns change to reflect the increased openness in content sharing. These effects are realized immediately and over time. To the best of our knowledge, this is the first study that relies on observational data to assess the impact of a major privacy change on dynamic content-sharing activities and the resulting disclosure patterns of Facebook users

Limiting exchange rate swings under a managed floating regime: Evidence from a panel of 24 currencies

The monetary authorities of many open economies regularly intervene in foreign exchange markets with the aim of limiting swings in exchange rates. A survey of exchange rate models reveals, however, that the literature lacks a model that provides an explanation for exchange rate swings and at the same time offers a role for official intervention and parity announcement to affect exchange rate movements. Furthermore, empirical studies suggest that official intervention can have a significant effect on exchange rate movements, but only in the short run (up to 3 months). In this dissertation, I build on the premium model by Frydman and Goldberg (2007), which is based on endogenous prospect theory, and construct a model that provides for swings and a role for intervention. The model implies that intervention aimed at pushing the exchange rate back to some announced or even unannounced parity level at unpredictable moments in time can lead to more limited swings in exchange rates compared to regimes without such policy through an uncertainty premium channel. This new channel follows from one of the key implications of endogenous prospect theory that market participants require a premium as compensation for their greater sensitivity to losses before they are willing to speculate in currency markets. This so-called uncertainty premium depends positively on the gap between the forecast of the future exchange rate and its perceived historical benchmark level. The main contribution of this research is empirical. I first test for the positive relationship between the premium and the gap using a contingency table analysis and regression analysis based on an autoregressive distributive lag model. Then I investigate whether central banks can take advantage of this positive relationship between the gap and the premium in limiting exchange rate swings. My results provide evidence that the gap and the premium are positively related, and that central bank intervention supporting some parity level can lead to swings of smaller magnitude. My empirical analysis is based on survey data on exchange rate forecasts, exchange rate regime classifications and data on changes in reserves, and includes 24 currencies from developed and developing countries

A Theory of Renewable Energy from Natural Evaporation

About 50% of the solar energy absorbed at the Earth’s surface is used to drive evaporation, a powerful form of energy dissipation due to water’s large latent heat of vaporization. Evaporation powers the water cycle that affects global water resources and climate. Critically, the evaporation driven water cycle impacts various renewable energy resources, such as wind and hydropower. While recent advances in water responsive materials and devices demonstrate the possibility of converting energy from evaporation into work, we have little understanding to-date about the potential of directly harvesting energy from evaporation. Here, we develop a theory of the energy available from natural evaporation to predict the potential of this ubiquitous resource. We use meteorological data from locations across the USA to estimate the power available from natural evaporation, its intermittency on varying timescales, and the changes in evaporation rates imposed by the energy conversion process. We find that harvesting energy from natural evaporation could provide power densities up to 10 W m-2 (triple that of present US wind power) along with evaporative losses reduced by 50%. When restricted to existing lakes and reservoirs larger than 0.1 km2 in the contiguous United States (excluding the Great Lakes), we estimate the total power available to be 325 GW. Strikingly, we also find that the large heat capacity of water bodies is sufficient to control power output by storing excess energy when demand is low. Taken together, our results show how this energy resource could provide nearly continuous renewable energy at power densities comparable to current wind and solar technologies – while saving water by cutting evaporative losses. Consequently, this work provides added motivation for exploring materials and devices that harness energy from evaporation

Relationship between the Service Sector and Economic Growth: Evidence from China

The rapid economic growth of China during the last four decades has reshaped the political and economic arena around the world. Under the leadership of Deng Xiaoping, China has realized sets of reforms towards modernization and opening the economy since 1978 and these reforms have helped China to become an economic giant. China’s economy is still growing today and a distinct growth pattern together with a complex economic system and the society of China draw interest from all over the world to research and understand what factors trigger such fast growth rates. In this study, the relationship between economic growth and two subsectors of the service sector, namely real estate and hotel & catering in China, is analyzed. The study uses quantitative methodology and time-series data acquired from secondary sources. The Autoregressive Distributed Lag Method (ARDL) in E-views 10 statistical software is utilized to analyze the data. The findings of the data analysis reveal that both sub sectors have a significant and positive impact on economic growth of China in both the long run and short run. The findings can be generalized and referred to the entire service sector and it can also be claimed that a positive relationship exists between the service sector and economic growth in China

Extending the diversity conversation: Fashion consumption experiences of underrepresented and underserved women

This research brings in the voice of underserved and underrepresented women of various racial or ethnic origins and social classes, who have differing buying powers, sexual orientations, body shapes, and physical appearances, into the conversation of fashion diversity. Through a qualitative inquiry with 38 semi-structured in-depth interviews, the researchers analyzed the consumption experiences of diverse women to expose what the fashion scene is lacking. The study\u27s main contribution is the depiction of overlooked diversity categories in fashion, such as the non-White and non-Black women of color, women of average sizes, and women with characteristics that the fashion industry has long seen as flaws. For women\u27s physical and psychological well-being, the authors of this study hope to lead fashion producers and researchers into a new era of diversity and minimize certain consumer groups\u27 exclusion through discrimination, isolation, and segregation