Development of Rouble Exchange Rate in Russia

This 45th volume deals with the development of the Russian rouble, which suffered a severe depreciation crisis in 1998. In the aftermath of this event, a strong investment boom started in Russia. The new devalued rouble exchange rate gave price competitiveness to local industry. In addition to that, increasing export prices of Russian oil and natural gas deliveries have contributed to economic growth lately. Amid this boom period, inflationary pressure has remained high. Price increases have been higher than in the EU, Russia’s main trading partner. However, rouble/euro exchange rate has remained nominally rather stable in the current decade. This means, that rouble appreciates against euro in real terms, which is weakening Russia’s international competitiveness.

Effects of polymorphisms in beta1-adrenoceptor and alpha-subunit of G protein on heart rate and blood pressure during exercise test. The finnish cardiovascular study.

J Appl Physiol vol 100, no 2, pp 507-511, 2006

Heart rate variability derived from exercise ECG in the detection of coronary artery disease.

Physiol Meas. 2007 Oct;28(10):1189-200. Epub 2007 Sep 18.

Development of Rouble Exchange Rate in Russia

NORDIn julkaisu 45 käsittelee ruplan kehitystä. Vuonna 1998 rupla kärsi rajusta rahanarvon alenemisesta, minkä jälkiseuraksena investointi alkoi Venäjällä kasvaa. Uusi devalvoitu ruplan vaihtokurssi toi hintakilpailykykyä paikalliselle teollisuudelle. Tämän lisäksi Venäjän öljyn vientihintojen nousu ja maakaasujakelu ovat edesauttaneet taloudellista kasvua viime aikoina. Tämän noususuhdanteen vallitessa inflaatiopaine on pysynyt korkealla. Hinnannousut ovat olleet korkeampia kuinEU:ssa, Venäjän pääkauppakumppanilla. Kuitenkin, ruplan/euron vaihtokurssit ovat pysyneet nimellisesti melko vakaina tällä vuosikymmenellä. Tämä tarkoittaa, että todellisuudessa rupla vahvistuu euroa vastaan, mikä heikentää Venäjän kansainvälistä kilpailykykyä.

Vasicek interest rate model

Tässä tutkielmassa estimoidaan korkomallin parametrit Maximum likelihood metodilla sekä näytetään kuinka mallintaa lyhyen koron evoluutiota ja korkokäyrän rakennetta.

Welding of Sheet metal using Modified short arc MIG/MAG welding process

In this research work, the results of an investigation dealing with welding of sheet metals with diverse air gap using FastROOT modified short arc welding method and short circuit MAG welding processes have been presented. Welding runs were made under different conditions and, during each run, the different process parameters were continuously monitored. It was found that maximum welding speed and less HAZ are reached under specific welding conditions with FastROOT method with the emphasis on arc stability. Welding results show that modified short arc exhibits a higher electrode melting coefficient and with virtually spatter free droplet transition. By adjusting the short circuit duration the penetration can be controlled with only a small change in electrode deposition. Furthermore, by mixing pulsed MIG welding with modified arc welding the working envelope of the process is greatly extended allowing thicker material sections to be welded with improved weld bead aesthetics. FastROOT is a modified short arc welding process using mechanized or automated welding process based on dip transfer welding, characterized by controlled material deposition during the short circuit of the wire electrode to the workpiece.

Ecological and Epidemiological Analyses of Multiple Sclerosis Relapse Rate

The underlying cause of many human autoimmune diseases is unknown, but several environmental factors are implicated in triggering the self-destructive immune reactions. Multiple Sclerosis (MS) is a chronic autoimmune disease of the central nervous system, potentially leading to persistent neurological deterioration. The cause of MS is not known, and apart from immunomodulatory treatments there is no cure. In the early phase of the disease, relapsing-remitting MS (RR-MS) is characterized by unpredictable exacerbations of the neurological symptoms called relapses, which can occur at different intervals ranging from 4 weeks to several years. Microbial infections are known to be able to trigger MS relapses, and the patients are instructed to avoid all factors that might increase the risk of infections and to properly use antibiotics as well as to take care of dental hygiene. Among those environmental factors which are known to increase susceptibility to infections, high ambient air inhalable particulate matter levels affect all people within a geographical region. During the period of interest in this thesis, the occurrence of MS relapses could be effectively reduced by injections of interferon, which has immunomodulatory and antiviral properties. In this thesis, ecological and epidemiological analyses were used to study the possible connection between MS relapse occurrence, population level viral infections and air quality factors, as well as the effects of interferon medication. Hospital archive data were collected retrospectively from 1986-2001, a period in time ranging from when interferon medication first became available until just before other disease-modifying MS therapies arrived on the market. The grouped data were studied with logistic regression and intervention analysis, and individual patient data with survival analysis. Interferons proved to be effective in the treatment of MS in this observational study, as the amount of MS exacerbations was lower during interferon use as compared to the time before interferon treatment. A statistically significant temporal relationship between MS relapses and inhalable particular matter (PM₁₀) concentrations was found in this study, which implies that MS patients are affected by the exposure to PM₁₀. Interferon probably protected against the effect of PM₁₀, because a significant increase in the risk of exacerbations was only observed in MS patients without interferon medication following environmental exposure to population level specific viral infections and PM₁₀. Apart from being antiviral, interferon could thus also attenuate the enhancement of immune reactions caused by ambient air PM₁₀. The retrospective approach utilizing carefully constructed hospital records proved to be an economical and reliable source of MS disease information for statistical analyses.

The determination of EONIA rate: The impact of the financial crisis and the effects of the changes in the monetary policy implementation framework

EONIA is a market based overnight interest rate, whose role as the starting point of the yield curve makes it critical from the perspective of the implementation of European Central Bank´s common monetary policy in the euro area. The financial crisis that started in 2007 had a large impact on the determination mechanism of this interest rate, which is considered as the central bank´s operational target. This thesis examines the monetary policy implementation framework of the European Central Bank and changes made to it. Furthermore, we discuss the development of the recent turmoil in the money market. EONIA rate is modelled by means of a regression equation using variables related to liquidity conditions, refinancing need, auction results and calendar effects. Conditional volatility is captured by an EGARCH model, and autocorrelation is taken into account by employing an autoregressive structure. The results highlight how the tensions in the initial stage of the market turmoil were successfully countered by ECB´s liquidity policy. The subsequent response of EONIA to liquidity conditions under the full allotment liquidity provision procedure adopted after the demise of Lehman Brothers is also established. A clear distinction in the behavior of the interest rate between the sub-periods was evident. In the light of the results obtained, some of the challenges posed by the exit-strategy implementation will be addressed.

Superconducting properties and their enhancement in ReBa2Cu3O7-delta (RE = Y and Gd) films prepared by pulsed laser deposition

Due to font problem on the tilte field the titlte of the thesis is corrected here. The title of the thesis is: Superconducting properties and their enhancement in ReBa₂Cu₃O₇-delta (RE = Y and Gd) films prepared by pulsed laser deposition

Improving the calculation of rate of stratification in APROS

APROS (Advanced Process Simulation Environment) is a computer simulation program developed to simulate thermal hydraulic processes in nuclear and conventional power plants. Earlier research at VTT Technological Research Centre of Finland had found the current version of APROS to produce inaccurate simulation results for a certain case of loop seal clearing. The objective of this Master’s thesis is to find and implement an alternative method for calculating the rate of stratification in APROS, which was found to be the reason for the inaccuracies. Brief literature study was performed and a promising candidate for the new method was found. The new method was implemented into APROS and tested against experiments and simulations from two test facilities and the current version of APROS. Simulation results with the new version were partially conflicting; in some cases the new method was more accurate than the current version, in some the current method was better. Overall, the new method can be assessed as an improvement.

A study on rate correlations of gasification reactions

Gasification offers an environmentally friendly alternative for conventional combustion enabling the use of low grade and troublesome fuel such as municipal waste. While combustion converts fuel directly into thermal energy and noxious gases, gasification thermally converts fuel into gas that can be used in multiple applications. The purpose of this work is to get to know the gasification as a phenomenon and examine the kinetics of gasification. The main interest is in the reaction rates of the most important gasification reactions - water-gas, Boudouard and shift reaction. Reaction rate correlations found in the scientific articles are examined in atmospheric pressure in different temperatures.

PET and MR imaging in Parkinson’s disease patients with cognitive impairment. A study of dopaminergic dysfunction, amyloid deposition, cortical hypometabolism and brain atrophy

Parkinson’s disease (PD) is the second most common neurodegenerative disorder. It is characterized by a severe loss of substantia nigra dopaminergic neurons leading to dopamine depletion in the striatum. PD affects movement, producing motor symptoms such as rigidity, tremor and bradykinesia. Non-motor symptoms include autonomic dysfunction, neurobehavioral problems and cognitive impairment, which may lead to dementia. The pathophysiological basis of cognitive impairment and dementia in PD is unclear. The aim of this thesis was to study the pathophysiological basis of cognitive impairment and dementia in PD. We evaluated the relation between frontostriatal dopaminergic dysfunction and the cognitive symptoms in PD patients with [18F]Fdopa PET. We also combined [C]PIB and [¹⁸F]FDG PET and magnetic resonance imaging in PD patients with and without dementia. In addition, we analysed subregional striatal [¹⁸F]Fdopa PET data to find out whether a simple ratio approach would reliably separate PD patients from healthy controls. The impaired dopaminergic function of the frontostriatal regions was related to the impairment in cognitive functions, such as memory and cognitive processing in PD patients. PD patients with dementia showed an impaired glucose metabolism but not amyloid deposition in the cortical brain regions, and the hypometabolism was associated with the degree of cognitive impairment. PD patients had atrophy, both in the prefrontal cortex and in the hippocampus, and the hippocampal atrophy was related to impaired memory. A single 15-min scan 75 min after a tracer injection seemed to be sufficient for separating patients with PD from healthy controls in a clinical research environment. In conclusion, the occurrence of cognitive impairment and dementia in PD seems to be multifactorial and relates to changes, such as reduced dopaminergic activity, hypometabolism, brain atrophy and rarely to amyloid accumulation.