International Transmission under Floating Exchange Rates

International Transmission under Floating Exchange Rates

Can small be beautiful? assessing image resolution requirements for mobile TV

Mobile TV services are now being offered in several countries, but for cost reasons, most of these services offer material directly recoded for mobile consumption (i.e. without additional editing). The experiment reported in this paper, aims to assess the image resolution and bitrate requirements for displaying this type of material on mobile devices. The study, with 128 participants, examined responses to four different image resolutions, seven video encoding bitrates, two audio bitrates and four content types. The results show that acceptability is significantly lower for images smaller than 168×126, regardless of content type. The effect is more pronounced when bandwidth is abundant, and is due to important detail being lost in the smaller screens. In contrast to previous studies, participants are more likely to rate image quality as unacceptable when the audio quality is high

Real Exchange Rate Behavior Under Floating and Fixed Regimes

In this paper we examine the stability of the real exchange rate and the macroeconomic effects of alternative exchange-rate regimes, including currency union, on real exchange-rate behaviour. We focus on the Irish punt in order to exploit its diversity of experience over different nominal exchange rate regimes. We make both temporal and cross-country comparisons of real-exchange-rate stability for the Irish punt with sterling, the US dollar and the German mark. We reach two conclusions on the basis of our results. The first is that for Ireland, as for most other countries, purchasing power parity provides a reasonably good description of actual exchange rate behaviour over the long run. Our second principal conclusion concerns regime effects. Currency union appears to matter. The real exchange rates we analyse are unambiguously less variable under currency union than under alternative exchange-rate systems. Otherwise, however, we find no clear-cut differences in behaviour across regimes.Exchange Rates, purchasing power parity, exchange-rate regimes, currency union

Peeling Back the Onion of Cyber Espionage after Tallinn 2.0

Tallinn 2.0 represents an important advancement in the understanding of international law’s application to cyber operations below the threshold of force. Its provisions on cyber espionage will be instrumental to states in grappling with complex legal problems in the area of digital spying. The law of cyber espionage as outlined by Tallinn 2.0, however, is substantially based on rules that have evolved outside of the digital context, and there exist serious ambiguities and limitations in its framework. This Article will explore gaps in the legal structure and consider future options available to states in light of this underlying mismatch

Quantifying mixing using magnetic resonance imaging.

Mixing is a unit operation that combines two or more components into a homogeneous mixture. This work involves mixing two viscous liquid streams using an in-line static mixer. The mixer is a split-and-recombine design that employs shear and extensional flow to increase the interfacial contact between the components. A prototype split-and-recombine (SAR) mixer was constructed by aligning a series of thin laser-cut Poly (methyl methacrylate) (PMMA) plates held in place in a PVC pipe. Mixing in this device is illustrated in the photograph in Fig. 1. Red dye was added to a portion of the test fluid and used as the minor component being mixed into the major (undyed) component. At the inlet of the mixer, the injected layer of tracer fluid is split into two layers as it flows through the mixing section. On each subsequent mixing section, the number of horizontal layers is duplicated. Ultimately, the single stream of dye is uniformly dispersed throughout the cross section of the device. Using a non-Newtonian test fluid of 0.2% Carbopol and a doped tracer fluid of similar composition, mixing in the unit is visualized using magnetic resonance imaging (MRI). MRI is a very powerful experimental probe of molecular chemical and physical environment as well as sample structure on the length scales from microns to centimeters. This sensitivity has resulted in broad application of these techniques to characterize physical, chemical and/or biological properties of materials ranging from humans to foods to porous media (1, 2). The equipment and conditions used here are suitable for imaging liquids containing substantial amounts of NMR mobile (1)H such as ordinary water and organic liquids including oils. Traditionally MRI has utilized super conducting magnets which are not suitable for industrial environments and not portable within a laboratory (Fig. 2). Recent advances in magnet technology have permitted the construction of large volume industrially compatible magnets suitable for imaging process flows. Here, MRI provides spatially resolved component concentrations at different axial locations during the mixing process. This work documents real-time mixing of highly viscous fluids via distributive mixing with an application to personal care products

Equity Returns and Inflation: The Puzzlingly Long Lags

This paper examines data for stock prices and price levels of 14 developed countries during the post-WWII era and compares their behavior in that sample with behavior over the past two centuries in the UK and the US. Contrary to much of the literature of the past several decades, we find that nominal equity prices do, in fact, keep pace with movements in the overall price level. Our results suggest, however, that this is only the case over long periods. The puzzle therefore is not that equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass.Stock prices, inflation, Fisher effect, neutrality, cointegration,Equity Returns,Inflation ,Long Lags

Bearing damage characteristics of fibre-reinforced countersunk composite bolted joints subjected to quasi-static shear loading

This paper studies the progression of damage in carbon fibre-reinforced polymer (CFRP) countersunk composite bolted joints (CBJs) with neat-fit clearance, subjected to quasi-static loading. Damage mechanisms, comprising of fibre buckling and breakage, matrix damage, shear damage and inter-laminar delamination within the CFRP composite parts of the joints have been studied. Load-displacement curves, X-ray and optical microscopic images in single- and three-bolt CBJs were used to investigate damage and deformation characteristics. The observations were then employed to further investigate the type of failure and the extent of damage. The evolution of damage within the composite parts was correlated to the failure characteristics of the joints: It was found that the type and extension of damage is strongly correlated with the ultimate failure load point of the joint in single-bolt CBJs. A combined inter/intra-laminar damage consisting of fibre cluster breakage, extensive fibre buckling, debonding and delamination was observed at the ultimate failure load. This study was then extended to three-bolt CBJ where damage surrounding each bolt and its corresponding failure load was strongly correlated: The final study showed that the ultimate failure point in single-bolt CBJ and the first-bolt-failure point in three-bolt CBJ correspond to the composite plies undergoing intra-laminar damage with the size reaching to the edge of the countersunk head. This damage developed extensively through the thickness of the composite parts underneath the countersink, and in the direction opposite to the loading direction. Outside the countersunk head, debonding and delamination were found to be the dominant damage driving mechanisms. Finally, a new design rule has been proposed to predict the response of multi-bolt joints (damage area and failure load) by using the response in single-bolt CBJ as an initial baseline

The inferior caval vein draining into the left atrial cavity : a rare case

The inferior vena cava (IVC) draining into the left atrium (LA) is exceedingly rare in the setting of the usual atrial arrangement (situs solitus). This article describes a patient with this unique anomaly, and its repair.peer-reviewe

Aiming Higher: Results From a State Scorecard on Health System Performance, 2009

Ranks states on thirty-eight indicators of healthcare access, prevention and treatment, avoidable hospital use and costs, equity, and healthy lives. Examines trends, including eroding adult insurance coverage, poor care coordination, and rising costs

Aiming Higher: Results From a State Scorecard on Health System Performance

Assesses state variation across key dimensions of health system performance -- access, quality, avoidable hospital use and costs, equity, and healthy lives -- and assigns overall state rankings as well as ranks on each dimension