The new Basel accord and developing countries: problems and alternatives

The new Basel Accord framework relies on markets and supervisors to discipline banks. Yet both markets and supervisors fail, and more so in developing countries than in high-income countries. Therefore, the new Accord is not, as its designers claim, suitable for wide application. Nevertheless, developing country policymakers have little choice but to implement it in part or in whole. Hence there are problems of governance in international regulation. I offer seven general principles for the design of a prudential regime more robust to government and market failure. Four alternative capital regimes are evaluated in the light of these principles. Simpler and harsher regimes are likely to achieve greater safety with a given level of resources

Monitoring Large-Scale Cloud Systems with Layered Gossip Protocols

Monitoring is an essential aspect of maintaining and developing computer systems that increases in difficulty proportional to the size of the system. The need for robust monitoring tools has become more evident with the advent of cloud computing. Infrastructure as a Service (IaaS) clouds allow end users to deploy vast numbers of virtual machines as part of dynamic and transient architectures. Current monitoring solutions, including many of those in the open-source domain rely on outdated concepts including manual deployment and configuration, centralised data collection and adapt poorly to membership churn. In this paper we propose the development of a cloud monitoring suite to provide scalable and robust lookup, data collection and analysis services for large-scale cloud systems. In lieu of centrally managed monitoring we propose a multi-tier architecture using a layered gossip protocol to aggregate monitoring information and facilitate lookup, information collection and the identification of redundant capacity. This allows for a resource aware data collection and storage architecture that operates over the system being monitored. This in turn enables monitoring to be done in-situ without the need for significant additional infrastructure to facilitate monitoring services. We evaluate this approach against alternative monitoring paradigms and demonstrate how our solution is well adapted to usage in a cloud-computing context.Comment: Extended Abstract for the ACM International Symposium on High-Performance Parallel and Distributed Computing (HPDC 2013) Poster Trac

Observing the clouds : a survey and taxonomy of cloud monitoring

This research was supported by a Royal Society Industry Fellowship and an Amazon Web Services (AWS) grant. Date of Acceptance: 10/12/2014Monitoring is an important aspect of designing and maintaining large-scale systems. Cloud computing presents a unique set of challenges to monitoring including: on-demand infrastructure, unprecedented scalability, rapid elasticity and performance uncertainty. There are a wide range of monitoring tools originating from cluster and high-performance computing, grid computing and enterprise computing, as well as a series of newer bespoke tools, which have been designed exclusively for cloud monitoring. These tools express a number of common elements and designs, which address the demands of cloud monitoring to various degrees. This paper performs an exhaustive survey of contemporary monitoring tools from which we derive a taxonomy, which examines how effectively existing tools and designs meet the challenges of cloud monitoring. We conclude by examining the socio-technical aspects of monitoring, and investigate the engineering challenges and practices behind implementing monitoring strategies for cloud computing.Publisher PDFPeer reviewe

CAPTIVE SUPPLY TRENDS AND IMPACTS SINCE THE ADVENT OF MANDATORY PRICE REPORTING

Captive supplies have been a contentious issue in the livestock industry for fifteen years and the subject of both theoretical and empirical research. In 2001, mandatory price reporting was implemented. One objective by its proponents was to increase the amount of information available on captive supplies. This paper examines data now available as a result of mandatory price reporting to determine what additional information is available compared to previously. Second, several models were specified and estimated to determine the impacts captive supplies had on fed cattle prices in the two years following implementation of mandatory price reporting. Models showed mixed results. There was a consistent negative effect on cash market prices from formula priced trades; generally a positive impact from negotiated trades and packer owned trades on cash market prices; and mixed but often a positive impact from forward contract trades on cash market prices.Livestock Production/Industries, Marketing,

MARKET ADJUSTMENT INSIGHTS: PRIMARY VS. SECONDARY DATA

Producers, researchers, and policy makers have an interest in market effects from meatpacking plant closings and openings. This paper presents results from a study taking a dual approach to determining impacts from an anticipated hog slaughtering plant opening and an unexpected fed cattle slaughtering plant closing. Secondary data are used in a price differences and partial adjustment model. Primary data are used in a logit model. Results indicate a clearer price effect from the plant opening than the plant closing. Primary data provide additional insight into the dynamics related to the two plant events.Industrial Organization,

Price Effects from an Anticipated Meatpacking Plant Opening and Unexpected Plant Closing

Livestock producers primarily, but policy makers also, have an interest in market effects from meatpacking plant closings and openings. This article presents results from a study to determine price impacts from an anticipated hog slaughtering plant opening and an unexpected fed cattle slaughtering plant closing. The estimated price effects for each plant event were modeled with price difference and partial adjustment models. The plant opening resulted in higher absolute and relative hog prices in the Provincial market where the plant was located. However, adverse price impacts from the fed cattle plant closing were less evident.buyer competition, fed cattle, hogs, livestock prices, market dynamics, meatpacking, Demand and Price Analysis,

Digital materials

Thesis (S.M.)--Massachusetts Institute of Technology, School of Architecture and Planning, Program in Media Arts and Sciences, 2010.Cataloged from PDF version of thesis.Includes bibliographical references (p. 43-44).This thesis develops the use of additive assembly of press-fit digital materials as a new rapid-prototyping process. Digital materials consist of a finite set of parts that have discrete connections and occupy discrete space. Part geometries were designed and fabricated at different scales from different materials, including hierarchical voxels which connect across different scales. All parts were designed to be vertically assembled with top and bottom connections. Digital materials are discussed as a new way for building physically reconfigurable, multi-material 3D structures. The parts were designed with press-fit connectors to build reversible assemblies to take full advantage of reuse and recycling. This document starts by describing some current technologies in the fields of rapid-prototyping and personal fabrication. The concept for a press-fit digital materials is defined and explained. Many part designs are documented, including conductor and insulator parts for SOIC-pitch 3D circuits and hierarchical assemblies. This thesis concludes with the design and concept for assembly machine to automate building functional digital materials.by Jonathan Ward.S.M