Real Exchange Rates and Time-Varying Trade Costs

Previous empirical work on the Purchasing Power Parity does not explicitly account for time-varying trade costs. Motivated by the recent gravity literature we incorporate a microfounded measure of trade costs into two nonlinear regression models for the real exchange rate. Using data for the dollar-sterling real exchange rate from 1830 to 2005, we provide significant evidence in favor of a positive relation between the level of trade costs and the degree of persistence of the real exchange rate.

Specifying Smooth Transition Regression Models in the Presence of Conditional Heteroskedasticity of Unknown Form

The specification of Smooth Transition Regression models consists of a sequence of tests, which are typically based on the assumption of i.i.d. errors. In this paper we examine the impact of conditional heteroskedasticity and investigate the performance of several heteroskedasticity robust versions. Simulation evidence indicates that conventional tests can frequently result in finding spurious nonlinearity. Conversely, when the true process is nonlinear in mean the tests appear to have low size adjusted power and can lead to the selection of misspecified models. The above deficiencies also hold for tests based on Heteroskedasticity Consistent Covariance Matrix Estimators but not for the Fixed Design Wild Bootstrap. We highlight the importance of robust inference through empirical applications.

Bubbles in House Prices and their Impact on Consumption: Evidence for the US

This paper provides evidence that some aggregate and regional U.S. real house price indices exhibited a bubble in the last few years according to the Phillips et al. (2007) unit root test. We subsequently investigate whether house price acceleration (deceleration) had a signi.cant impact on consumption in an error correction mechanism implied by a wide class of optimizing models. Our results support the argument that real house prices have their major effect on consumption only during the bubble period

A Force-Balanced Control Volume Finite Element Method for Multi-Phase Porous Media Flow Modelling

Dr D. Pavlidis would like to acknowledge the support from the following research grants: Innovate UK ‘Octopus’, EPSRC ‘Reactor Core-Structure Re-location Modelling for Severe Nuclear Accidents’) and Horizon 2020 ‘In-Vessel Melt Retention’. Funding for Dr P. Salinas from ExxonMobil is gratefully acknowledged. Dr Z. Xie is supported by EPSRC ‘Multi-Scale Exploration of Multi-phase Physics in Flows’. Part funding for Prof Jackson under the TOTAL Chairs programme at Imperial College is also acknowledged. The authors would also like to acknowledge Mr Y. Debbabi for supplying analytic solutions.Peer reviewedPublisher PD

Higher-order conservative interpolation between control-volume meshes: Application to advection and multiphase flow problems with dynamic mesh adaptivity

© 2016 .A general, higher-order, conservative and bounded interpolation for the dynamic and adaptive meshing of control-volume fields dual to continuous and discontinuous finite element representations is presented. Existing techniques such as node-wise interpolation are not conservative and do not readily generalise to discontinuous fields, whilst conservative methods such as Grandy interpolation are often too diffusive. The new method uses control-volume Galerkin projection to interpolate between control-volume fields. Bounded solutions are ensured by using a post-interpolation diffusive correction. Example applications of the method to interface capturing during advection and also to the modelling of multiphase porous media flow are presented to demonstrate the generality and robustness of the approach

Low DC power, high gain-bandwidth product, coplanar Darlingtonfeedback amplifiers using InAlAs/InGaAs heterojunction bipolartransistors

[[abstract]]Broad band amplifiers with two Darlington feedback topologies, namely resistive biased and mirror biased, have been designed, fabricated and characterized. The HBT layers used for amplifiers were grown by MBE. To reduce the knee voltage and increase the breakdown voltage of the devices, graded base-emitter junction and low-doped, thick collector have been employed. The fabricated amplifiers have achieved 10.95 dB gain with 25.5 GHz bandwidth at DC power consumption of only 34.7 mW. State-of-art Gain-Bandwidth-Products per dc power were achieved for both amplifiers (⩾2.60 GHz/mW). The fabricated amplifiers also demonstrated moderate output power (8.3 dBm) at 10 GHz with a low DC power consumption of only 40 mW[[fileno]]2030121030001[[department]]電機工程學

First demonstration of low-power monolithic transimpedance amplifier using InP/GaAsSb/InP DHBTs

[[abstract]]A low-power transimpedance amplifier is presented based on InP/GaAsSb/InP DHBT technology. This is the first monolithic circuit demonstration using Sb-based InP DHBTs. Self-biased from a single 2.55 V dc supply, the broadband transimpedance amplifier in shunt-shunt feedback exhibited a 6.0 dB gain, 8.0 GHz bandwidth, 43 dB/spl Omega/ transimpedance, and a corresponding gain-bandwidth of 1.13 THz-/spl Omega/ while consuming only 15.3 mW dc power. The single-stage buffer amplifier achieved a good gain-bandwidth-product per dc power figure-of-merit (GBP/P/sub dc/) of 1.05 GHz/mW.[[fileno]]2030121030006[[department]]電機工程學

A large eddy simulation of the dispersion of traffic emissions by moving vehicles at an intersection

Traffic induced flow within urban areas can have a significant effect on pollution dispersion, particularly for traffic emissions. Traffic movement results in increased turbulence within the street and the dispersion of pollutants by vehicles as they move through the street. In order to accurately model urban air quality and perform meaningful exposure analysis at the microscale, these effects cannot be ignored. In this paper we introduce a method to simulate traffic induced dispersion at high resolution. The computational fluid dynamics software, Fluidity, is used to model the moving vehicles through a domain consisting of an idealised intersection. A multi-fluid method is used where vehicles are represented as a second fluid which displaces the air as it moves through the domain. The vehicle model is coupled with an instantaneous emissions model which calculates the emission rate of each vehicle at each time step. A comparison is made with a second Fluidity model which simulates the traffic emissions as a line source and does not include moving vehicles. The method is used to demonstrate how moving vehicles can have a significant effect on street level concentration fields and how large vehicles such as buses can also cause acute high concentration events at the roadside which can contribute significantly to overall exposure