Arbitrage, Covered Interest Parity and Cointegration Analysis on the NTD/USD Forex Market Revisited

This study applies interest parity theory including Covered Interest Parity (CIP) to examine the 30-, 60-.90-, and 180-day maturities for the NTD/USD foreign exchange (FX) market. In the empirical unit root tests, we find that NTD/USD forward premium and interest rate spread present I(0) property. Empirical results are provided that interest rate differential appears stationary component; imply the stable relationship between Taiwan and USA on monetary policy. Using Taylor (1989)'s covered interest arbitrage model, the empirical results exhibit the absence of excess profit opportunities on New Taiwan Dollar (NTD) or US Dollar (USD) returns. Additionally, theoretical innovation approach of the cost-of-carry model is considered to evaluate the arbitrage opportunities in FX study. Accordingly, the covered interest parity condition generally continue to hold that almost zero-arbitrage results support FX market efficiency although the Federal Reserve implemented several rounds of quantitative easing after the peak of the 2008 financial crisis. Ultimately, Taiwanese FX market emerges to have been little affected by the increased crisis risks during the turbulent times because of the its limited development and market integration. Keywords: Covered Interest Parity, Market Integration, Granger Causality Tests, Cost-of-Carry model JEL Classifications: G1, G12, F3

Using Sidereal Rotation Period Expressions to Calculate the Sun’s Rotation Period through Observation of Sunspots

We utilize sidereal rotation period expressions to calculate the sun’s rotation period via sunspot observation. From the well-known astronomical sites, we collected sunspot diagrams for 14 months, from January 2013 to February 2014, to analyze, compare, and implement statistical research. In addition to acquiring the average angular rate of the movement of sunspots, we found that even the same number of sunspots moved at different angular rates, and generally the life of larger sunspots is longer than 10 days. Therefore the larger sunspots moved around the back of the sun, and a handful of relatively smaller sunspots disappeared within a few days. The results show that the solar rotation period varied with the latitude. However, if we take the average of the sunspots at high and low latitudes, we find that the calculated value is very close to the accredited values

Body Massage Performance Investigation by Brain Activity Analysis

Massage has been widely applied to improve health and reduce stress. However, the performance difference between hands-on treatment and treatment by mechanical devices has been little mentioned. Therefore, the main aim of this paper is to investigate a subject's EEG performance under massage treatment applied by hand and treatment applied by mechanical devices. Massage was applied to four acupoints for three minutes each. The massage acupoint sequence was from left Jian-wai-yu, right Jian-wai-yu, left Zuo-fei-yu, and finally right Zuo-fei-yu. An EEG system of 32 channels was used. Twenty-four volunteers, mainly college students, were enrolled. EEG rhythm powers of each massage sessions were derived. Two-way ANOVA revealed that there were also significant interactions between the massage stage and the massage type on delta (P < 0.01), theta (P < 0.05), and beta rhythms (P < 0.01), and there were significant differences at different stages for the mechanical massage group (F = 5.557, P < 0.01). The mechanical massage group had more significant differences than the hands-on group for stage coherence of around coherence on alpha rhythm. Further rhythm power scalp topography between two massage methods is also investigated

OpenSSLNTRU : Faster post-quantum TLS key exchange

Google's CECPQ1 experiment in 2016 integrated a post-quantum key-exchange algorithm, newhope1024, into TLS 1.2. The Google-Cloudflare CECPQ2 experiment in 2019 integrated a more efficient key-exchange algorithm, ntruhrss701, into TLS 1.3. This paper revisits the choices made in CECPQ2, and shows how to achieve higher performance for post-quantum key exchange in TLS 1.3 using a higher-security algorithm, sntrup761. Previous work had indicated that ntruhrss701 key generation was much faster than sntrup761 key generation, but this paper makes sntrup761 key generation much faster by generating a batch of keys at once. Batch key generation is invisible at the TLS protocol layer, but raises software-engineering questions regarding the difficulty of integrating batch key exchange into existing TLS libraries and applications. This paper shows that careful choices of software layers make it easy to integrate fast post-quantum software, including batch key exchange, into TLS with minor changes to TLS libraries and no changes to applications. As a demonstration of feasibility, this paper reports successful integration of its fast sntrup761 library, via a lightly patched OpenSSL, into an unmodified web browser and an unmodified TLS terminator. This paper also reports TLS 1.3 handshake benchmarks, achieving more TLS 1.3 handshakes per second than any software included in OpenSSL.acceptedVersionPeer reviewe

Optimized ultrasound-assisted extraction of phenolic compounds from Polygonum cuspidatum

In this study the phenolic compounds piceid, resveratrol and emodin were extracted from P. cuspidatum roots using ultrasound-assisted extraction. Multiple response surface methodology was used to optimize the extraction conditions of these phenolic compounds. A three-factor and three-level Box-Behnken experimental design was employed to evaluate the effects of the operation parameters, including extraction temperature (30-70 °C), ethanol concentration (40%-80%), and ultrasonic power (90-150 W), on the extraction yields of piceid, resveratrol, and emodin. The statistical models built from multiple response surface methodology were developed for the estimation of the extraction yields of multi-phenolic components. Based on the model, the extraction yields of piceid, resveratrol, and emodin can be improved by controlling the extraction parameters. Under the optimum conditions, the extraction yields of piceid, resveratrol and emodin were 10.77 mg/g, 3.82 mg/g and 11.72 mg/g, respectively