The Real Exchange Rate and Fiscal Policy During the Gold Standard PeriodEvidence from the United States and Great Britain

We study the determinants of the dollar/pound real exchange rate from 1879 to 1914 focusing on the role of fiscal policy. We present a simple dynamic model of the real exchange rate to frame our analysis. The econometric results are based upon the decomposition of the sources of the innovation of the real exchange rate drawn from a structural vector autoregression model. We find little evidence that changes in tariffs and government spending affected the real exchange rate. There is some stronger empirical evidence that shocks to deficits were associated with the fluctuations in the real exchange rate.

An Evaluation of Link Neighborhood Lexical Signatures to Rediscover Missing Web Pages

For discovering the new URI of a missing web page, lexical signatures, which consist of a small number of words chosen to represent the "aboutness" of a page, have been previously proposed. However, prior methods relied on computing the lexical signature before the page was lost, or using cached or archived versions of the page to calculate a lexical signature. We demonstrate a system of constructing a lexical signature for a page from its link neighborhood, that is the "backlinks", or pages that link to the missing page. After testing various methods, we show that one can construct a lexical signature for a missing web page using only ten backlink pages. Further, we show that only the first level of backlinks are useful in this effort. The text that the backlinks use to point to the missing page is used as input for the creation of a four-word lexical signature. That lexical signature is shown to successfully find the target URI in over half of the test cases.Comment: 24 pages, 13 figures, 8 tables, technical repor

Polyethylene under tensile load: strain energy storage and breaking of linear and knotted alkanes probed by first-principles molecular dynamics calculations

The mechanical resistance of a polyethylene strand subject to tension and the way its properties are affected by the presence of a knot is studied using first-principles molecular dynamics calculations. The distribution of strain energy for the knotted chains has a well-defined shape that is very different from the one found in the linear case. The presence of a knot significantly weakens the chain in which it is tied. Chain rupture invariably occurs just outside the entrance to the knot, as is the case for a macroscopic rope.Comment: 8 pages, 11 figures, to appear on J. Chem. Phy

The Clustering of Organizational Innovation: Developing Governance Models for Vertical Integration

This case explores a cluster of firms that emerged sharing a particular ownership structure. Typically, clusters are thought of as interrelated firms that produce similar products and services. However, we document the emergence and evolution of a cluster of entrepreneurial ventures that developed using a unique governance structure. We explore the deviant case of Renville, MN because of its notable success in developing a series of entrepreneurial ventures that provided producers with the opportunity to vertically integrate.collective entrepreneurship, organizational innovation, joint vertical innovation, cluster, Agribusiness, Research and Development/Tech Change/Emerging Technologies, Q10, Q13, Q16,