Home-ownership for future generations

This paper constructs a housing market model to analyse conditions for different generations of households in the UK. Previous policy work has suggested that baby-boomers have benefitted at the expense of younger generations. The model relies on a form of financial accelerator in which existing homeowners reinvest a proportion of the capital gains on moving home. The model is extended to look at homeownership probabilities. It also explains why an increasing share of mortgages has gone to existing owners, despite market liberalisation and securitisation. In addition, the model contributes to the explanation of volatility.

Tales of the unexpected: research discoveries that occurred by accident

Data from four experimental research projects are presented which have in common that unexpected results caused a change in direction of the research. A plant growth accelerator caused the appearance of white black bean aphids, a synthetic pyrethroid suspected of enhancing aphid reproduction proved to enhance plant growth, a chance conversation with a colleague initiated a search for fungal DNA in aphids, and the accidental invasion of aphid cultures by a parasitoid reversed the aphid population ranking of two Brussels sprout cultivars. This last result led to a whole series of studies on the plant odour preferences of emerging parasitoids which in turn revealed the unexpected phenomenon that chemical cues to the maternal host plant are left with the eggs at oviposition. It is pointed out that, too often, researchers fail to follow up unexpected results because they resist accepting flaws in their hypotheses; also that current application criteria for research funding make it hard to accommodate unexpected findings.

Resonant Wave Interactions in the Presence of a Diurnally Varying Heat Source

Resonant interactions among equatorial waves in the presence of a diurnally varying heat source are studied in the context of the diabatic version of the equatorial beta-plane primitive equations for a motionless, hydrostatic, horizontally homogeneous and stably stratified background atmosphere. The heat source is assumed to be periodic in time and of small amplitude [i.e., O(epsilon)] and is prescribed to roughly represent the typical heating associated with deep convection in the tropical atmosphere. In this context, using the asymptotic method of multiple time scales, the free linear Rossby, Kelvin, mixed Rossby-gravity, and inertio-gravity waves, as well as their vertical structures, are obtained as leading-order solutions. These waves are shown to interact resonantly in a triad configuration at the O(e) approximation, and the dynamics of these interactions have been studied in the presence of the forcing. It is shown that for the planetary-scale wave resonant triads composed of two first baroclinic equatorially trapped waves and one barotropic Rossby mode, the spectrum of the thermal forcing is such that only one of the triad components is resonant with the heat source. As a result, to illustrate the role of the diurnal forcing in these interactions in a simplified fashion, two kinds of triads have been analyzed. The first one refers to triads composed of a k = 0 first baroclinic geostrophic mode, which is resonant with the stationary component of the diurnal heat source, and two dispersive modes, namely, a mixed Rossby-gravity wave and a barotropic Rossby mode. The other class corresponds to triads composed of two first baroclinic inertio-gravity waves in which the highest-frequency wave resonates with a transient harmonic of the forcing. The integration of the asymptotic reduced equations for these selected resonant triads shows that the stationary component of the diurnal heat source acts as an ""accelerator"" for the energy exchanges between the two dispersive waves through the excitation of the catalyst geostrophic mode. On the other hand, since in the second class of triads the mode that resonates with the forcing is the most energetically active member because of the energy constraints imposed by the triad dynamics, the results show that the convective forcing in this case is responsible for a longer time scale modulation in the resonant interactions, generating a period doubling in the energy exchanges. The results suggest that the diurnal variation of tropical convection might play an important role in generating low-frequency fluctuations in the atmospheric circulation through resonant nonlinear interactions.

MAGNETOHYDRODYNAMIC SIMULATIONS OF RECONNECTION AND PARTICLE ACCELERATION: THREE-DIMENSIONAL EFFECTS

Magnetic fields can change their topology through a process known as magnetic reconnection. This process in not only important for understanding the origin and evolution of the large-scale magnetic field, but is seen as a possibly efficient particle accelerator producing cosmic rays mainly through the first-order Fermi process. In this work we study the properties of particle acceleration inserted in reconnection zones and show that the velocity component parallel to the magnetic field of test particles inserted in magnetohydrodynamic (MHD) domains of reconnection without including kinetic effects, such as pressure anisotropy, the Hall term, or anomalous effects, increases exponentially. Also, the acceleration of the perpendicular component is always possible in such models. We find that within contracting magnetic islands or current sheets the particles accelerate predominantly through the first-order Fermi process, as previously described, while outside the current sheets and islands the particles experience mostly drift acceleration due to magnetic field gradients. Considering two-dimensional MHD models without a guide field, we find that the parallel acceleration stops at some level. This saturation effect is, however, removed in the presence of an out-of-plane guide field or in three-dimensional models. Therefore, we stress the importance of the guide field and fully three-dimensional studies for a complete understanding of the process of particle acceleration in astrophysical reconnection environments.

Statistical treatment of misalignments in particle accelerators

To know how much misalignment is tolerable for a particle accelerator is an important input for the design of these machines. In particle accelerators the beam must be guided and focused using bending magnets and magnetic lenses, respectively. The alignment of the lenses along a transport line aims to ensure that the beam passes through their optical axes and represents a critical point in the assembly of the machine. There are more and more accelerators in the world, many of which are very small machines. Because the existing literature and programs are mostly targeted for large machines. in this work we describe a method suitable for small machines. This method consists in determining statistically the alignment tolerance in a set of lenses. Differently from the methods used in standard simulation codes for particle accelerators, the statistical method we propose makes it possible to evaluate particle losses as a function of the alignment accuracy of the optical elements in a transport line. Results for 100 key electrons, on the 3.5-m long conforming beam stage of the IFUSP Microtron are presented as an example of use. (C) 2010 Elsevier B.V. All rights reserved.

The magnetized steel and scintillator calorimeters of the MINOS experiment

The Main Injector Neutrino Oscillation Search (MINOS) experiment uses an accelerator-produced neutrino beam to perform precision measurements of the neutrino oscillation parameters in the ""atmospheric neutrino"" sector associated with muon neutrino disappearance. This long-baseline experiment measures neutrino interactions in Fermilab`s NuMI neutrino beam with a near detector at Fermilab and again 735 km downstream with a far detector in the Soudan Underground Laboratory in northern Minnesota. The two detectors are magnetized steel-scintillator tracking calorimeters. They are designed to be as similar as possible in order to ensure that differences in detector response have minimal impact on the comparisons of event rates, energy spectra and topologies that are essential to MINOS measurements of oscillation parameters. The design, construction, calibration and performance of the far and near detectors are described in this paper. (C) 2008 Elsevier B.V. All rights reserved.

Numerical test of Born-Oppenheimer approximation in chaotic systems

We study the validity of the Born-Oppenheimer approximation in chaotic dynamics. Using numerical solutions of autonomous Fermi accelerators. we show that the general adiabatic conditions can be interpreted as the narrowness of the chaotic region in phase space. (C) 2009 Elsevier B.V. All rights reserved.

Observation of the antimatter helium-4 nucleus

High-energy nuclear collisions create an energy density similar to that of the Universe microseconds after the Big Bang(1); in both cases, matter and antimatter are formed with comparable abundance. However, the relatively short-lived expansion in nuclear collisions allows antimatter to decouple quickly from matter, and avoid annihilation. Thus, a high-energy accelerator of heavy nuclei provides an efficient means of producing and studying antimatter. The antimatter helium-4 nucleus ((4)(He) over bar), also known as the anti-alpha ((alpha) over bar), consists of two antiprotons and two antineutrons (baryon number B = -4). It has not been observed previously, although the alpha-particle was identified a century ago by Rutherford and is present in cosmic radiation at the ten per cent level(2). Antimatter nuclei with B -1 have been observed only as rare products of interactions at particle accelerators, where the rate of antinucleus production in high-energy collisions decreases by a factor of about 1,000 with each additional antinucleon(3-5). Here we report the observation of (4)<(He) over bar, the heaviest observed antinucleus to date. In total, 18 (4)(He) over bar counts were detected at the STAR experiment at the Relativistic Heavy Ion Collider (RHIC; ref. 6) in 10(9) recorded gold-on-gold (Au+Au) collisions at centre-of-mass energies of 200 GeV and 62 GeV per nucleon-nucleon pair. The yield is consistent with expectations from thermodynamic(7) and coalescent nucleosynthesis(8) models, providing an indication of the production rate of even heavier antimatter nuclei and a benchmark for possible future observations of (4)(He) over bar in cosmic radiation.

Lacustrine sediments provide geochemical evidence of environmental change during the last millennium in southeastern Brazil

A 172 cm-long sediment core was collected from a small pristine lake situated within a centripetal drainage basin in a tropical karst environment (Ribeira River valley, southeastern Brazil) in order to investigate the paleoenvironmental record provided by the lacustrine geochemistry. Sediments derived from erosion of the surrounding cambisoils contain quartz, kaolinite, mica, chlorite and goethite. Accelerator mass spectroscopy (AMS) (14)C dating provided the geochronological framework. Three major sedimentary units were identified based on the structure and color of the sediments: Unit III from 170 to 140 cm (1030 +/- 60-730 +/- 60 yr BP), Unit II from 140 to 90 cm (730 +/- 60-360 +/- 60 yr BP) and Unit I from 90 to 0 cm (360 +/- 60-0 yr BP). Results of major and trace element concentrations were analysed through multivariate statistical techniques. Factor analysis provided three factors accounting for 72.4% of the total variance. F1 and F2 have high positive loadings from K, Ba, Cs, Rb, Sr, Sc, Th, light rare earth element (LREE), Fe, Cr, Ti, Zr, Hf and Ta, and high negative loadings from Mg, Co, Cu, Zn, Br and loss on ignition (LOI). F3, with positive loadings from V and non-metals As and Sb, accounts for a low percentage (9.7%) of the total variance, being therefore of little interpretative use. The profile distribution of F1 scores reveals negative values in Units I and III, and positive values in Unit II, meaning that K, Ba, Cs, Rb, Sr, Sc, Th, LREE, Fe, Cr, Ti, Zr, Hf and Ta are relatively more concentrated in Unit II, and Mg, Co, Cu, Zn and Br are relatively more abundant in Units I and III. The observed fluctuations in the geochemical composition of the sediments are consistent with slight variations of the erosion intensity in the catchment area as a possible response to variations of climatic conditions during the last millennium. (c) 2009 Elsevier GmbH. All rights reserved.

CHRONOLOGICAL DISTRIBUTION OF BRAZILIAN GLYPTODON SP REMAINS: A DIRECT (14)C DATE FOR A SPECIMEN FROM IPORANGA, SAO PAULO, BRAZIL

Glyptodon sp. fossil remains can be found throughout Brazil. However, little information is available about their chronological distribution. With the intention to contribute to this issue, we present, as far as we know, the first direct radiocarbon date for 1 specimen of this genus found in Brazil. The osteoderm MZSP-PV660 found in Abismo do Fossil Cave (SP-145), Iporanga, Sao Paulo, Brazil, was dated by accelerator mass spectrometry at the Beta Analytic Radiocarbon Dating Laboratory. The (14)C date obtained was between 20,680 and 21,370 calibrated years before the present. Unfortunately, the scant (and often imprecise or unreliable) chronological data regarding this species and genus in Brazil and elsewhere in South America precludes a robust comparison among the dates available and the one presented here. Nevertheless, our finding supports the existence of this genus in South America at least until the Last Glacial Maximum.

Biobased composites from glyoxal-phenolic resins and sisal fibers

Lignocellulosic materials can significantly contribute to the development of biobased composites. In this work, glyoxal-phenolic resins for composites were prepared using glyoxal, which is a dialdehyde obtained from several natural resources. The resins were characterized by (1)H, (13)C, (2)D, and (31)P NMR spectroscopies. Resorcinol (10%) was used as an accelerator for curing the glyoxal-phenol resins in order to obtain the thermosets. The impact-strength measurement showed that regardless of the cure cycle used, the reinforcement of thermosets by 30% (w/w) sisal fibers improved the impact strength by one order of magnitude. Curing with cycle 1 (150 degrees C) induced a high diffusion coefficient for water absorption in composites, due to less interaction between the sisal fibers and water. The composites cured with cycle 2 (180 degrees C) had less glyoxal resin coverage of the cellulosic fibers, as observed by images of the fractured interface observed by SEM. This study shows that biobased composites with good properties can be prepared using a high proportion of materials obtained from natural resources. (C) 2009 Elsevier Ltd. All rights reserved.

The role of entrepreneurial networking on internationalization of a micro-sized Born Global Swedish fashion company : A narrative ethnographic research

Background: In recent studies a lot of attention is drawn to the connection between networking and entrepreneurship. Many scholars consider successful business and networking inseparable. Taking into consideration the topicality of the two notions discussed above the authors of this thesis decided to conduct the research dedicated to these phenomena in the field that interests them most – in the field of Swedish fashion. Purpose: The purpose of the thesis is to gain a deeper insight into entrepreneur’s experiences to point out the role of entrepreneurial networking in the process of internationalization of a micro-sized Swedish fashion company and to contribute to the research in this field by telling its unique story. Method: To achieve the purpose of the research a narrative ethnographic research was conducted. This research strategy was chosen because it suits the purpose best by giving an opportunity to get fresh insights into the field of entrepreneurial networking from the point of view of the entrepreneur. The data collected has a narrative nature therefore narrative analysis is used to present it. The methods of gathering the data are face-to-face interview and documents. Conclusion: we can define the most important role of entrepreneurial networking on the internationalization process of Odeur as an effective accelerator and a tool to fulfil the knowledge and expertise gaps in certain areas through other actors in the network.

Building an Interactive, Three-dimensional Virtual World

The movement of graphics and audio programming towards three dimensions is to better simulate the way we experience our world. In this project I looked to use methods for coming closer to such simulation via realistic graphics and sound combined with a natural interface. I did most of my work on a Dell OptiPlex with an 800 MHz Pentium III processor and an NVIDlA GeForce 256 AGP Plus graphics accelerator -high end products in the consumer market as of April 2000. For graphics, I used OpenGL [1], an open·source, multi-platform set of graphics libraries that is relatively easy to use, coded in C . The basic engine I first put together was a system to place objects in a scene and to navigate around the scene in real time. Once I accomplished this, I was able to investigate specific techniques for making parts of a scene more appealing.

Government policy and private investment in Brazil (1955/82)

The questlon of the crowding-out of private !nvestment by public expenditure, public investment in particular , ln the Brazilian economy has been discussed more in ideological terrns than on empirical grounds. The present paper tries to avoid the limitation of previous studies by estlmatlng an equation for private investment whlch makes it possible to evaluate the effect of economic policies on prlvate investment. The private lnvestment equation was deduced modifylng the optimal flexible accelerator medel (OFAM) incorporating some channels through which public expendlture influences privateinvestment. The OFAM consists in adding adjustment costs to the neoclassical theory of investrnent. The investment fuction deduced is quite general and has the following explanatory variables: relative prices (user cost of capitaljimput prices ratios), real interest rates, real product, public expenditures and lagged private stock of capital. The model was estimated for private manufacturing industry data. The procedure adopted in estimating the model was to begin with a model as general as possible and apply restrictions to the model ' s parameters and test their statistical significance. A complete diagnostic testing was also made in order to test the stability of estirnated equations. This procedure avoids ' the shortcomings of estimating a model with a apriori restrictions on its parameters , which may lead to model misspecification. The main findings of the present study were: the increase in public expenditure, at least in the long run, has in general a positive expectation effect on private investment greater than its crowding-out effect on priva te investment owing to the simultaneous rise in interst rates; a change in economlc policy, such as that one of Geisel administration, may have an important effect on private lnvestment; and reI ative prices are relevant in determining the leveI of desired stock of capital and private investrnent.

Essays on the credit channel of monetary policy: a case study for Brazil

The onset of the financial crisis in 2008 and the European sovereign crisis in 2010 renewed the interest of macroeconomists on the role played by credit in business cycle fluctuations. The purpose of the present work is to present empirical evidence on the monetary policy transmission mechanism in Brazil with a special eye on the role played by the credit channel, using different econometric techniques. It is comprised by three articles. The first one presents a review of the literature of financial frictions, with a focus on the overlaps between credit activity and the monetary policy. It highlights how the sharp disruptions in the financial markets spurred central banks in developed and emerging nations to deploy of a broad set of non conventional tools to overcome the damage on financial intermediation. A chapter is dedicated to the challenge face by the policymaking in emerging markets and Brazil in particular in the highly integrated global capital market. This second article investigates the implications of the credit channel of the monetary policy transmission mechanism in the case of Brazil, using a structural FAVAR (SFAVAR) approach. The term “structural” comes from the estimation strategy, which generates factors that have a clear economic interpretation. The results show that unexpected shocks in the proxies for the external finance premium and the credit volume produce large and persistent fluctuations in inflation and economic activity – accounting for more than 30% of the error forecast variance of the latter in a three-year horizon. Counterfactual simulations demonstrate that the credit channel amplified the economic contraction in Brazil during the acute phase of the global financial crisis in the last quarter of 2008, thus gave an important impulse to the recovery period that followed. In the third articles, I make use of Bayesian estimation of a classical neo-Keynesian DSGE model, incorporating the financial accelerator channel developed by Bernanke, Gertler and Gilchrist (1999). The results present evidences in line to those already seen in the previous article: disturbances on the external finance premium – represented here by credit spreads – trigger significant responses on the aggregate demand and inflation and monetary policy shocks are amplified by the financial accelerator mechanism. Keywords: Macroeconomics, Monetary Policy, Credit Channel, Financial Accelerator, FAVAR, DSGE, Bayesian Econometrics