Export and import market-specific characteristics. How they drive the decision to trade and how much

Using a rich firm-level dataset on the Italian manufacturing industry, this paper provides a comprehensive analysis of the role that firms and market characteristics play in shaping firms’ trade activities. We enhance the previous analyses by considering firms’ engagement in international transactions, by focusing on either exports or imports. We show that the determinants of a firm’s export participation and value across countries also drive import behavior. Our research is consistent with the presence of country-specific sunk costs and with a qualitatively similar role of gravity forces and other country attributes on both sides of trading activities. Our evidence, however, militates in favor of a framework where variations in market characteristics have a larger impact on imports than exports.

An integral security kernel

As the user base of the Internet has grown tremendously, the need for secure services has increased accordingly. Most secure protocols, in digital business and other fields, use a combination of symmetric and asymmetric cryptography, random generators and hash functions in order to achieve confidentiality, integrity, and authentication. Our proposal is an integral security kernel based on a powerful mathematical scheme from which all of these cryptographic facilities can be derived. The kernel requires very little resources and has the flexibility of being able to trade off speed, memory or security; therefore, it can be efficiently implemented in a wide spectrum of platforms and applications, either software, hardware or low cost devices. Additionally, the primitives are comparable in security and speed to well known standards.

Palladium(II) oxide impregnated on magnetite as a catalyst for the synthesis of 4-arylcoumarins via a Heck-arylation/cyclization process

Heck-arylation/cyclization was achieved using heterogeneous palladium(II) oxide impregnated on magnetite catalyst (2.5 mol%) with a lower catalyst loading than that reported for similar processes. Ethanol was used as a non-toxic and bio-renewable solvent. Good yields were afforded using a broad range of substrates (40–98%). The catalyst could be partially recycled, and analyses confirmed the almost total reduction of palladium(II) oxide to palladium(0) as well as the iodine poissoning effect, which is the main barrier to complete recyclability.