96 resultados para Commodity exchanges
Resumo:
Recent studies into price transmission have recognized the important role played by transport and transaction costs. Threshold models are one approach to accommodate such costs. We develop a generalized Threshold Error Correction Model to test for the presence and form of threshold behavior in price transmission that is symmetric around equilibrium. We use monthly wheat, maize, and soya prices from the United States, Argentina, and Brazil to demonstrate this model. Classical estimation of these generalized models can present challenges but Bayesian techniques avoid many of these problems. Evidence for thresholds is found in three of the five commodity price pairs investigated.
Resumo:
Farming systems research is a multi-disciplinary holistic approach to solve the problems of small farms. Small and marginal farmers are the core of the Indian rural economy Constituting 0.80 of the total farming community but possessing only 0.36 of the total operational land. The declining trend of per capita land availability poses a serious challenge to the sustainability and profitability of farming. Under such conditions, it is appropriate to integrate land-based enterprises such as dairy, fishery, poultry, duckery, apiary, field and horticultural cropping within the farm, with the objective of generating adequate income and employment for these small and marginal farmers Under a set of farm constraints and varying levels of resource availability and Opportunity. The integration of different farm enterprises can be achieved with the help of a linear programming model. For the current review, integrated farming systems models were developed, by Way Of illustration, for the marginal, small, medium and large farms of eastern India using linear programming. Risk analyses were carried out for different levels of income and enterprise combinations. The fishery enterprise was shown to be less risk-prone whereas the crop enterprise involved greater risk. In general, the degree of risk increased with the increasing level of income. With increase in farm income and risk level, the resource use efficiency increased. Medium and large farms proved to be more profitable than small and marginal farms with higher level of resource use efficiency and return per Indian rupee (Rs) invested. Among the different enterprises of integrated farming systems, a chain of interaction and resource flow was observed. In order to make fanning profitable and improve resource use efficiency at the farm level, the synergy among interacting components of farming systems should be exploited. In the process of technology generation, transfer and other developmental efforts at the farm level (contrary to the discipline and commodity-based approaches which have a tendency to be piecemeal and in isolation), it is desirable to place a whole-farm scenario before the farmers to enhance their farm income, thereby motivating them towards more efficient and sustainable fanning.
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The extensive development of the ruminant forestomach sets apart their N economy from that of nonruminants in a number of respects. Extensive pregastric fermentation alters the profile of protein reaching the small intestine, largely through the transformation of nitrogenous compounds into microbial protein. This process is fueled primarily by carbohydrate fermentation and includes extensive recycling of N between the body and gut lumen pools. Nitrogen recycling occurs via blood and gut lumen exchanges of urea and NH3, as well as endogenous gut and secretory N entry into the gut lumen, and the subsequent digestion and absorption of microbial and endogenous protein. Factors controlling urea transfer to the gut from blood, including the contributions of urea transporters, remain equivocal. Ammonia produced by microbial degradation of urea and dietary and endogenous AA is utilized by microbial fermentation or absorbed and primarily converted to urea. Therefore, microbial growth and carbohydrate fermentation affect the extent of NH3 absorption and urea N recycling and excretion. The extensive recycling of N to the rumen represents an evolutionary advantage of the ruminant in terms of absorbable protein supply during periods of dietary protein deficiency, or asynchronous carbohydrate and protein supply, but incurs a cost of greater N intakes, especially in terms of excess N excretion. Efforts to improve the efficiency of N utilization in ruminants by synchronizing fermentable energy and N availability have generally met with limited success with regards to production responses. In contrast, imposing asynchrony through oscillating dietary protein concentration, or infrequent supplementation, surprisingly has not negatively affected production responses unless the frequency of supplementation is less than once every 3 d. In some cases, oscillation of dietary protein concentration has improved N retention compared with animals fed an equal amount of dietary protein on a daily basis. This may reflect benefits of Orn cycle adaptations and sustained recycling of urea to the gut. The microbial symbiosis of the ruminant is inherently adaptable to asynchronous N and energy supply. Recycling of urea to the gut buffers the effect of irregular dietary N supply such that intuitive benefits of rumen synchrony in terms of the efficiency of N utilization are typically not observed in practice.
Resumo:
Inferring the spatial expansion dynamics of invading species from molecular data is notoriously difficult due to the complexity of the processes involved. For these demographic scenarios, genetic data obtained from highly variable markers may be profitably combined with specific sampling schemes and information from other sources using a Bayesian approach. The geographic range of the introduced toad Bufo marinus is still expanding in eastern and northern Australia, in each case from isolates established around 1960. A large amount of demographic and historical information is available on both expansion areas. In each area, samples were collected along a transect representing populations of different ages and genotyped at 10 microsatellite loci. Five demographic models of expansion, differing in the dispersal pattern for migrants and founders and in the number of founders, were considered. Because the demographic history is complex, we used an approximate Bayesian method, based on a rejection-regression algorithm. to formally test the relative likelihoods of the five models of expansion and to infer demographic parameters. A stepwise migration-foundation model with founder events was statistically better supported than other four models in both expansion areas. Posterior distributions supported different dynamics of expansion in the studied areas. Populations in the eastern expansion area have a lower stable effective population size and have been founded by a smaller number of individuals than those in the northern expansion area. Once demographically stabilized, populations exchange a substantial number of effective migrants per generation in both expansion areas, and such exchanges are larger in northern than in eastern Australia. The effective number of migrants appears to be considerably lower than that of founders in both expansion areas. We found our inferences to be relatively robust to various assumptions on marker. demographic, and historical features. The method presented here is the only robust, model-based method available so far, which allows inferring complex population dynamics over a short time scale. It also provides the basis for investigating the interplay between population dynamics, drift, and selection in invasive species.
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An overtly critical perspective on 're-engineering construction' is presented. It is contended that re-engineering is impossible to define in terms of its substantive content and is best understood as a rhetorical label. In recent years, the language of re-engineering has heavily shaped the construction research agenda. The declared goals are to lower costs and improve value for the customer. The discourse is persuasive because it reflects the ideology of the 'enterprise culture' and the associated rhetoric of customer responsiveness. Re-engineering is especially attractive to the construction industry because it reflects and reinforces the existing dominant way of thinking. The overriding tendency is to reduce organizational complexities to a mechanistic quest for efficiency. Labour is treated as a commodity. Within this context, the objectives of re-engineering become 'common sense'. Knowledge becomes subordinate to the dominant ideology of neo-liberalism. The accepted research agenda for re-engineering construction exacerbates the industry's problems and directly contributes to the casualization of the workforce. The continued adherence to machine metaphors by the construction industry's top management has directly contributed to the 'bad attitudes' and 'adversarial culture' that they repeatedly decry. Supposedly neutral topics such as pre-assembly, partnering, supply chain management and lean thinking serve only to justify the shift towards bogus labour-only subcontracting and the associated reduction of employment rights. The continued casualization of the workforce raises real questions about the industry's future capacity to deliver high-quality construction. In order to appear 'relevant' to the needs of industry, it seems that the research community is doomed to perpetuate this regressive cycle.
Resumo:
The paper is an investigation of the exchange of ideas and information between an architect and building users in the early stages of the building design process before the design brief or any drawings have been produced. The purpose of the research is to gain insight into the type of information users exchange with architects in early design conversations and to better understand the influence the format of design interactions and interactional behaviours have on the exchange of information. We report an empirical study of pre-briefing conversations in which the overwhelming majority of the exchanges were about the functional or structural attributes of space, discussion that touched on the phenomenological, perceptual and the symbolic meanings of space were rare. We explore the contextual features of meetings and the conversational strategies taken by the architect to prompt the users for information and the influence these had on the information provided. Recommendations are made on the format and structure of pre-briefing conversations and on designers' strategies for raising the level of information provided by the user beyond the functional or structural attributes of space.
Resumo:
Controlled human intervention trials are required to confirm the hypothesis that dietary fat quality may influence insulin action. The aim was to develop a food-exchange model, suitable for use in free-living volunteers, to investigate the effects of four experimental diets distinct in fat quantity and quality: high SFA (HSFA); high MUFA (HMUFA) and two low-fat (LF) diets, one supplemented with 1.24g EPA and DHA/d (LFn-3). A theoretical food-exchange model was developed. The average quantity of exchangeable fat was calculated as the sum of fat provided by added fats (spreads and oils), milk, cheese, biscuits, cakes, buns and pastries using data from the National Diet and Nutrition Survey of UK adults. Most of the exchangeable fat was replaced by specifically designed study foods. Also critical to the model was the use of carbohydrate exchanges to ensure the diets were isoenergetic. Volunteers from eight centres across Europe completed the dietary intervention. Results indicated that compositional targets were largely achieved with significant differences in fat quantity between the high-fat diets (39.9 (SEM 0.6) and 38.9 (SEM 0.51) percentage energy (%E) from fat for the HSFA and HMUFA diets respectively) and the low-fat diets (29.6 (SEM 0.6) and 29.1 (SEM 0.5) %E from fat for the LF and LFn-3 diets respectively) and fat quality (17.5 (SEM 0.3) and 10.4 (SEM 0.2) %E front SFA and 12.7 (SEM 0.3) and 18.7 (SEM 0.4) %E MUFA for the HSFA and HMUFA diets respectively). In conclusion, a robust, flexible food-exchange model was developed and implemented successfully in the LIPGENE dietary intervention trial.
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There has been a clear lack of common data exchange semantics for inter-organisational workflow management systems where the research has mainly focused on technical issues rather than language constructs. This paper presents the neutral data exchanges semantics required for the workflow integration within the AXAEDIS framework and presents the mechanism for object discovery from the object repository where little or no knowledge about the object is available. The paper also presents workflow independent integration architecture with the AXAEDIS Framework.
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In 2003, through a conference presentation in Vancouver and a series of exchanges with Lemon, Leonidas convinced Adobe to substantially extend the coverage of the Greek script in forthcoming Adobe typefaces. The revised brief for Garamond was extended to include, for the first time in a digital typeface, extensive polytonic support, full archaic characters, and small capitals with optional polytonic diacritics; these features should be implemented with respect for the Greek language’s complex rules for case conversion, allowing full dictionary support regardless of the features applied. This project was the first where these issues were addressed, both from a documentation and a development point of view. Leonidas’ responsibilities lay with researching historical and current conventions, developing specifications for the appearance and behaviour of the typefaces, editing glyph outlines, and testing of development versions.
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A large number of urban surface energy balance models now exist with different assumptions about the important features of the surface and exchange processes that need to be incorporated. To date, no com- parison of these models has been conducted; in contrast, models for natural surfaces have been compared extensively as part of the Project for Intercomparison of Land-surface Parameterization Schemes. Here, the methods and first results from an extensive international comparison of 33 models are presented. The aim of the comparison overall is to understand the complexity required to model energy and water exchanges in urban areas. The degree of complexity included in the models is outlined and impacts on model performance are discussed. During the comparison there have been significant developments in the models with resulting improvements in performance (root-mean-square error falling by up to two-thirds). Evaluation is based on a dataset containing net all-wave radiation, sensible heat, and latent heat flux observations for an industrial area in Vancouver, British Columbia, Canada. The aim of the comparison is twofold: to identify those modeling ap- proaches that minimize the errors in the simulated fluxes of the urban energy balance and to determine the degree of model complexity required for accurate simulations. There is evidence that some classes of models perform better for individual fluxes but no model performs best or worst for all fluxes. In general, the simpler models perform as well as the more complex models based on all statistical measures. Generally the schemes have best overall capability to model net all-wave radiation and least capability to model latent heat flux.
Resumo:
Coupled atmosphere‐ocean general circulation models have a tendency to drift away from a realistic climatology. The modelled climate response to an increase of CO2 concentration may be incorrect if the simulation of the current climate has significant errors, so in many models, including ours, the drift is counteracted by applying prescribed fluxes of heat and fresh water at the ocean‐atmosphere interface in addition to the calculated surface exchanges. Since the additional fluxes do not have a physical basis, the use of this technique of “flux adjustment” itself introduces some uncertainty in the simulated response to increased CO2. We find that the global‐average temperature response of our model to CO2 increasing at 1% per year is about 30% less without flux adjustment than with flux adjustment. The geographical patterns of the response are similar, indicating that flux adjustment is not causing any gross distortion. The reduced size of the response is due to more effective vertical transport of heat into the ocean, and a somewhat smaller climate sensitivity. Although the response in both cases lies within the generally accepted range for the climate sensitivity, systematic uncertainties of this size are clearly undesirable, and the best strategy for future development is to improve the climate model in order to reduce the need for flux adjustment.
Resumo:
In response to increasing atmospheric con- centrations of greenhouse gases, the rate of time- dependent climate change is determined jointly by the strength of climate feedbacks and the e�ciency of pro- cesses which remove heat from the surface into the deep ocean. This work examines the vertical heat transport processes in the ocean of the HADCM2 atmosphere± ocean general circulation model (AOGCM) in experi- ments with CO2 held constant (control) and increasing at 1% per year (anomaly). The control experiment shows that global average heat exchanges between the upper and lower ocean are dominated by the Southern Ocean, where heat is pumped downwards by the wind- driven circulation and di�uses upwards along sloping isopycnals. This is the reverse of the low-latitude balance used in upwelling±di�usion ocean models, the global average upward di�usive transport being against the temperature gradient. In the anomaly experiment, weakened convection at high latitudes leads to reduced diffusive and convective heat loss from the deep ocean, and hence to net heat uptake, since the advective heat input is less a�ected. Reduction of deep water produc- tion at high latitudes results in reduced upwelling of cold water at low latitudes, giving a further contribution to net heat uptake. On the global average, high-latitude processes thus have a controlling in¯uence. The impor- tant role of di�usion highlights the need to ensure that the schemes employed in AOGCMs give an accurate representation of the relevant sub-grid-scale processes.
Resumo:
It has long been known that English Cistercian monasteries often sold their wool in advance to foreign merchants in the late thirteenth century. The abbey of Pipewell in Northamptonshire features in a number of such contracts with Cahorsin merchants. This paper looks again at these contracts in the context of over 200 other such agreements found in the governmental records. Why did Pipewell descend into penury over this fifty year period? This case study demonstrates that the promise of ready cash for their most valuable commodity led such abbots to make ambitious agreements – taking on yet more debt to service existing creditors – that would lead to their eventual bankruptcy.
Resumo:
Each year, small Member States receive a disproportionate share of the European Union's (EU's) budget. A prominent explanation for this is that Council decision-making involves a healthy dose of vote selling, whereby large Member States offer small states generous fiscal transfers in exchange for influence over policy. But nobody has investigated whether net budget contributors actually get anything for their money. In this paper I identify the vote selling model's observable implications and find virtually no evidence consistent with Council cash-for-votes exchanges. I also show that a compromise model – the leading model of EU decision-making to date – modified to incorporate vote selling does not outperform a standard one that assumes votes are traded rather than sold. Taken together, the results suggest that Council decision-making operates with little or no vote selling, and that regardless of whatever they think they might be buying, net budget contributors get little or nothing in return for their money. These findings call for further investigation into how Member States approach the issue of fiscal transfers, and into the factors other than formal voting weight that affect the power of actors engaged in EU decision-making.