Macroeconomic Effects of Inflation Targeting Policy in New Zealand

In this paper we analyze macroeconomic effects of inflation targeting policy in New Zealand using Markov switching model with one time permanent break. Our results show that the inflation targeting policy has significantly changed the inflation dynamics in the New Zealand economy. The Markov switching model clearly detects a structural break date that is very close to the actual date of the policy change. The volatility in the inflation rate shows a considerable reduction after the structural break date. Our results also show that the inflation targeting policy led to a structural change in real GDP growth rate. The policy change significantly reduced the volatility of real GDP growth rate after the break date. We find that there is a lag of about one year and six months between the monetary policy change and its actual effect on output growth.

Operational identification of the complete class of superlative index numbers: an application of Galois theory

We provide an operational identification of the complete class of superlative index numbers to track the exact aggregator functions of economic aggregation theory. If an index number is linearly homogeneous and a second order approximation in a formal manner that we define, we prove the index to be in the superlative index number class of nonparametric functions. Our definition is mathematically equivalent to Diewert’s most general definition. But when operationalized in practice, our definition permits use of the full class, while Diewert’s definition, in practice, spans only a strict subset of the general class. The relationship between the general class and that strict subset is a consequence of Galois theory. Only a very small number of elements of the general class have been found by Diewert’s method, despite the fact that the general class contains an infinite number of functions. We illustrate our operational, general approach by proving for the first time that a particular family of nonparametric functions, including the Sato-Vartia index, is within the superlative index number class.

Assessment of clear and cloudy sky parameterizations for daily downwelling longwave radiation over different land surfaces in Florida, USA

Clear sky downwelling longwave radiation (Rldc) and cloudy sky downwelling longwave radiation (Rld) formulas were tested across eleven sites in Florida. The Brunt equation, using air vapor pressure and temperature measurements, provides the best Rldc estimates with a root mean square error of less than around 12 Wm−2 across all sites. The Crawford and Duchon\u27s cloudiness factor with Brunt equation is recommended for Rld calculations. This combined approach requires no local calibration and estimates Rld with a root mean square error of less than around 13 Wm−2 and squared correlation coefficients that typically exceed 0.9

Microstructures and mechanical properties of tungsten wire/particle reinforced Zr57Nb5Al10Cu15.4Ni12.6 metallic glass matrix composites

Tungsten wire or particle reinforced metallic glass matrix composites are produced by infiltrating liquid Zr57Nb5Al10Cu15.4Ni12.6 (Vit106) into tungsten reinforcements at 1150 and at 1425 K. X-ray diffraction, differential scanning calorimetry, and scanning electron microscopy are carried out to characterize the composite. The matrix of the composite processed at 1150 K is mostly amorphous, with some embedded crystals. During processing, tungsten dissolves in the glass-forming melt and upon quenching precipitates over a relatively narrow zone near the interface between the tungsten and matrix. In the composites processed at 1425 K, tungsten dissolves in the melt and diffuses through the liquid medium, and then reprecipitates upon quenching. The faster kinetics at this high temperature results in a uniform distribution of the crystals throughout the matrix. Mechanical properties of the differently processed composites containing wires and particles are compared and discussed. The composites exhibit a plastic strain failure of up to 16% without sacrificing the high-failure strength, which is comparable to monolithic Vit106

Universal Correction of Density Functional Theory to Include London Dispersion (up to Lr, Element 103)

Conventional density functional theory (DFT) fails to describe accurately the London dispersion essential for describing molecular interactions in soft matter (biological systems, polymers, nucleic acids) and molecular crystals. This has led to several methods in which atom-dependent potentials are added into the Kohn–Sham DFT energy. Some of these corrections were fitted to accurate quantum mechanical results, but it will be tedious to determine the appropriate parameters to describe all of the atoms of the periodic table. We propose an alternative approach in which a single parameter in the low-gradient (lg) functional form is combined with the rule-based UFF (universal force-field) nonbond parameters developed for the entire periodic table (up to Lr, Z = 103), named as a DFT-ulg method. We show that DFT-ulg method leads to a very accurate description of the properties for molecular complexes and molecular crystals, providing the means for predicting more accurate weak interactions across the periodic table

Improved H_2 Storage in Zeolitic Imidazolate Frameworks Using Li^+, Na^+, and K^+ Dopants, with an Emphasis on Delivery H_2 Uptake

We use grand canonical Monte Carlo simulations with first principles based force fields to show that alkali metal (Li^+, Na^+, and K^+)-doped zeolitic imidazolate frameworks (ZIFs) lead to significant improvement of H_2 uptake at room temperature. For example, at 298 K and 100 bar, Li-ZIF-70 totally binds to 3.08 wt % H_2, Na-ZIF-70 to 2.19 wt % H_2, and K-ZIF-70 to 1.62 wt % H_2, much higher than 0.74 wt % H_2 for pristine ZIF-70. Thus, the dopant effect follows the order of Li-ZIF > Na-ZIF > K-ZIF, which correlates with the H_2 binding energies to the dopants. Moreover, the total H_2 uptake is higher at lower temperatures: 243 K > 273 K > 298 K. On the other hand, delivery H_2 uptake, which is the difference between the total adsorption at the charging pressure (say 100 bar) and the discharging pressure (say 5 bar), is the important factor for practical on-board hydrogen storage in vehicles. We show that delivery H_2 uptake leads to Na-ZIF-70 (1.37 wt %) > K-ZIF-70 (1.25 wt %) > Li-ZIF-70 (1.07 wt %) > ZIF-70 (0.68 wt %), which is different from the trend from the total and excess uptake. Moreover, the delivery uptake increases with increasing temperatures (i.e., 298 K > 273 K > 243 K)! To achieve high delivery H_2 uptake at room temperature, the large free volume of ZIFs is required. We find that higher H_2 binding energy needs not always lead to higher delivery H_2 uptake

Predicting Whole Forest Structure, Primary Productivity, and Biomass Density From Maximum Tree Size and Resource Limitations

In the face of uncertain biological response to climate change and the many critiques concerning model complexity it is increasingly important to develop predictive mechanistic frameworks that capture the dominant features of ecological communities and their dependencies on environmental factors. This is particularly important for critical global processes such as biomass changes, carbon export, and biogenic climate feedback. Past efforts have successfully understood a broad spectrum of plant and community traits across a range of biological diversity and body size, including tree size distributions and maximum tree height, from mechanical, hydrodynamic, and resource constraints. Recently it was shown that global scaling relationships for net primary productivity are correlated with local meteorology and the overall biomass density within a forest. Along with previous efforts, this highlights the connection between widely observed allometric relationships and predictive ecology. An emerging goal of ecological theory is to gain maximum predictive power with the least number of parameters. Here we show that the explicit dependence of such critical quantities can be systematically predicted knowing just the size of the largest tree. This is supported by data showing that forests converge to our predictions as they mature. Since maximum tree size can be calculated from local meteorology this provides a general framework for predicting the generic structure of forests from local environmental parameters thereby addressing a range of critical Earth-system questions.Comment: 26 pages, 4 figures, 1 Tabl

Zeolitic Imidazolate Frameworks as H_2 Adsorbents: Ab Initio Based Grand Canonical Monte Carlo Simulation

We report the H_2 uptake behavior of 10 zeolitic−imidazolate frameworks (ZIFs), based on grand canonical Monte Carlo (GCMC) simulations. The force fields (FFs) describing the interactions between H_2 and ZIF in the GCMC were based on ab initio quantum mechanical (QM) calculations (MP2) aimed at correctly describing London dispersion (van der Waals attraction). Thus these predictions of H_2 uptake are based on first principles (non empirical) and hence applicable to new framework materials for which there is no empirical data. For each of these 10 ZIFs we report the total and excess H_2 adsorption isotherms up to 100 bar at both 77 and 300 K. We report the hydrogen adsorption sites in the ZIFs and the relationships between H_2 uptake amount, isosteric heat of adsorption (Q_(st)), surface area, and free volume. Our simulation shows that various ZIFs lead to a variety of H_2 adsorption behaviors in contrast to the metal−organic frameworks (MOFs). This is because ZIFs leads to greater diversity in the adsorption sites (depending on both organic linkers and zeolite topologies) than in MOFs. In particular, the ZIFs uptake larger amounts of H_2 at low pressure because of the high H_2 adsorption energy, and ZIFs have a variety of H_2 adsorption sites. For example, ZIF-11 has an initial Q_(st) value of ~15 kJ/mol, which is higher than observed for MOFs. Moreover, the preferential H_2 adsorption site in ZIFs is onto the organic linker, not nearby the metallic joint as is the case for MOFs