315 research outputs found

    Evaluation of Charge Storage and Decay in Spacecraft Insulators

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    Two reports discuss methods for evaluating the magnitude of electrostatic charging that occurs in spacecraft dielectric materials (in particular, polyimides) during prolonged exposure to radiation in outer space. The reports describe experiments on the electrical resistivities and charge-storage properties of polyimide specimens in a dark, evacuated environment, both before and after 5-megarad exposures to rays from cobalt-60. The experiments were designed to measure these properties not under standard conditions prescribed for testing dielectrics in air but, rather, under conditions approximating those in the intended spacecraft applications. The results of the experiments showed that the electrical resistivities of the insulations as determined under these conditions are greater, by a factor of roughly a thousand, than those determined under the standard conditions and that the gamma irradiation reduced resistivities marginally

    Aggregate earnings and stock market returns: the good, the bad, and the state-dependent

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    Prior research documents a negative aggregate earnings-returns relation. In contrast, we posit that the sign of the relation varies, depending upon the macroeconomic and financial market conditions that exist in the earnings announcement quarter. We argue that the existing macroeconomic and financial market conditions influence market participants’ frame of reference, which in turn affects whether they interpret aggregate earnings surprises to be informative about the expected inflation component of the discount rate, the market risk premium component of the discount rate, or aggregate future cash flows. Consistent with this, we find that the sign of the aggregate earnings-returns relation changes numerous times across our sample period. We also find that market participants interpret aggregate earnings to be informative about changes in expected inflation (market risk premium) when the sign of the aggregate earnings-returns relation is negative (positive). Finally, we identify macroeconomic and financial market conditions under which the aggregate earnings-returns relation is more (less) likely to be negative (positive)

    No. 4 - Agriculture and the WTO: Subsidies in the Cross Hairs

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    September 2003 saw trade talks pursuing the Doha Development Agenda at the Cancún WTO Ministerial Meeting collapse, primarily over the disagreements between rich and developing countries regarding agriculture. Despite the great pessimism that ensued, on August 1, 2004, WTO negotiators from 147 countries announced a breakthrough in negotiations to liberalize trade in agricultural products. The most striking aspect of this new framework agreement is the proposed elimination of agricultural subsidies by rich countries in return for developing countries opening up their markets to more imports. At the same time, WTO dispute resolution panels have delivered stunning decisions against the U.S. cotton subsidy program and the European Union\u27s sugar subsidies. Clearly agriculture trade policy will be a pivotal issue determining the failure or success of the Doha round. This conference featured noted experts from senior levels of government, the private sector, and the legal profession addressing current developments in multilateral negotiations and the WTO cases on agriculture and analyzing their impact on the future of the world agricultural market. It was presented on November 16, 2004, at the University of Georgia School of Law by the Dean Rusk Center–International, Comparative, and Graduate Legal Studies and the College of Agricultural and Environmental Sciences

    Ethics and the Public Administrator

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    This article provides an overview and analysis of the practical problems of developing and implementing a code of ethics for public administrators. The article addresses three key issues: (1) What are public ethics and where do they come from? (2) What are the central ethical issues facing public administrators? and (3) Are there practical tools and guidelines to assist public servants to be both ethical and effective public managers? The article concludes with a plea for consideration of ethical issues, and it presents five general ethical principles for public administrators
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