Exchange Rate Determination from Monetary Fundamentals: an Aggregation Theoretic Approach

We incorporate aggregation and index number theory into monetary models of exchange rate determination in a manner that is internally consistent with money market equilibrium. Divisia monetary aggregates and user-cost concepts are used for money supply and opportunity-cost variables in the monetary models. We estimate a flexible price monetary model, a sticky price monetary model, and the Hooper and Morton (1982) model for the US dollar/UK pound exchange rate. We compare forecast results using mean square error, direction of change, and Diebold-Mariano statistics. We find that models with Divisia indexes are better than the random walk assumption in explaining the exchange rate fluctuations. Our results are consistent with the relevant theory and the 'Barnett critique.'Exchange rate, forecasts, vector error correction, aggregation theory, index number theory, Divisia index number

Ni-dispersed fullerenes: Hydrogen storage and desorption properties

Our study shows that the H2 storage media using Ni-dispersed fullerenes could be viable alternatives to reversible hydrogen storage. It is demonstrated that a single Ni coated on the fullerene surface can store up to three H2 molecules. Consequently, at high Ni coverage, Ni-dispersed fullerenes are considered to be the novel hydrogen storage media capable of storing ~6.8 wt % H2, thus exceeding the Department of Energy target (6.5 wt %) for automobile applications. Moreover, the H2 desorption activation barrier of 11.8 kcal/mol H2 is ideal for many practical hydrogen storage applications

The Effectiveness of Using Calibrated Peer Review (CPR) Against Non-CPR (Traditional) Means in Submitting Chemistry Laboratory Reports

This paper examines the impact of the use of CPR in submitting general Chemistry (123L) laboratory report. This is expected to improve writing skills and alleviate grading burdens particularly when dealing with a large class due to lack sufficient instructors and high grading burden. Analysis of Variance (ANOVA) and t-test were used in statistical analyses. When ANOVA was used for group I students (11 sections) post-laboratory reports submitted by using CPR revealed F = 0.87, p > 0.01, which implies it is consistent with the null hypothesis. The ANOVA done on group II (15 sections) post-laboratory using CPR revealed F = 2.07, p > 0.01, which is statistically significant. On the other hand, the comparison of students’ who did post-test after using CPR and Non-CPR user revealed t = 4.18, p < 2 x 10-5, t = 6.3, p < 7 x 10-10, which are statistically significant respectively. In addition, comparison using ANOVA for group I who did pre-test and post-test after using CPR and group II which did not use CPR revealed F = 2.94, p < 3 x 10-5, F = 2.20, p < 4 x 10-4, which are statistically significant respectively. It is most probable that the noted achievements may not necessarily be due to the use of CPR because the time spent in this research and size of sample used. Indeed, both t-test, and ANOVA analyses have shown existence differences between pre-test and post-test scores, regardless of whether or not the group used CPR to submit post-laboratory report. Statistical analysis has provided little support to connect the use of CPR programme and student writing skill improvement

Model predictive control of a variable-speed pitch-regulated wind turbine

The Model Predictive Controller is designed for a 5MW variable-speed pitch-regulated wind turbine for three operating points – below rated wind speed, just above rated wind speed, and above rated wind speed. At each operating point, the controllers are designed based on two different linear models of the same wind turbine to investigate the impact of using different control design models (i.e. the model used for designing a model-based controller) on the control performance

Deep Spectroscopy of the MV∼−14.8M_V\sim -14.8 Host Galaxy of a Tidal Disruption Flare in A1795

A likely tidal disruption of a star by the intermediate-mass black hole (IMBH) of a dwarf galaxy was recently identified in association with Abell 1795. Without deep spectroscopy for this very faint object, however, the possibility of a more massive background galaxy or even a disk-instability flare from a weak AGN could not be dismissed. We have now obtained 8 hours of Gemini spectroscopy which unambiguously demonstrate that the host galaxy is indeed an extremely low-mass $(M_\ast\sim 3\times 10^8\; {\rm M}_{\odot})$ galaxy in Abell 1795, comparable to the least-massive galaxies determined to host IMBHs via other studies. We find that the spectrum is consistent with the X-ray flare being due to a tidal disruption event rather than an AGN flare. We also set improved limits on the black hole mass $({\rm log}[M_{\bullet}/{\rm M}_{\odot}] \sim 5.3 - 5.7)$ and infer a 15-year X-ray variability of a factor of $> 10^4$. The confirmation of this galaxy-black hole system provides a glimpse into a population of galaxies that is otherwise difficult to study, due to the galaxies' low masses and intrinsic faintness, but which may be important contributors to the tidal disruption rate.Comment: 9 pages, 4 figures. Accepted by MNRA

Consumer Acceptance of Genetically Modified Foods in South Korea: Factor and Cluster Analysis

This study extends biotechnology discourse to cover South Korea in the Asian sub-continent showing a marked difference in perceptions between traditional and GM foods. Factor analysis suggests South Koreans may treat foods that are locally produced and those with no artificial flavors or colorings preferentially to GM foods. Additionally, South Koreans have concerns about perceived risks related to biotechnology, and, given a choice, they may pay more to avoid GM foods. Cluster analysis results yielded four consumer segments: (a) ardent supporters of the attribute of “naturalness†in foods, (b) those apprehensive about biotechnology, (c) the food adventurous, and (d) information seekers about biotechnology.consumer perceptions, factor and cluster analysis, food attributes, genetic modification, Consumer/Household Economics, Food Consumption/Nutrition/Food Safety,

CONSUMER ACCEPTANCE OF GENETICALLY MODIFIED FOODS IN KOREA: FACTOR AND CLUSTER ANALYSIS

The study applies multivariate statistical and econometric tools to estimate the importance of the various factors driving Korean consumer acceptance of GM food products. The evidence thus far on biotechnology is decidedly mixed: public perceptions of food biotechnology are characterized by ongoing tension between opposing forces. The South Korean perceptions about food in general and ranges from excitement about the promise of environmental and economic benefits from GM products to fear and distrust of the technology for unknown risks. This highlights the importance of credibility of private and public institutions responsible for certifying the safety of GM foods and implementing necessary regulatory controls on GM processes and products. In between, many people are undecided, trying to learn more about the issues and reach a definitive position. Encouraging though is that some people are eager to try new foods. Koreans strongly favors food naturalness, familiarity, and access just as the west countries. Results suggest that the South Korean Consumer priorities with respect to various biotechnology and general food issues are related to their socioeconomic and value attributes. This implies that, at least in the near term, there will be considerable divergence within the society in terms of acceptance of food biotechnology. The finding that large segments of the Korean society are either not fully informed or interested in learning more about biotechnology calls for a public education program. A program that may play a constructive role in not only informing consumers but help them in arriving at a socially optimal collective decisions on the wisdom and desirability of food biotechnology.Research and Development/Tech Change/Emerging Technologies,