Non-stationary stochastic inventory lot-sizing with emission and service level constraints in a carbon cap-and-trade system

Firms worldwide are taking major initiatives to reduce the carbon footprint of their supply chains in response to the growing governmental and consumer pressures. In real life, these supply chains face stochastic and non-stationary demand but most of the studies on inventory lot-sizing problem with emission concerns consider deterministic demand. In this paper, we study the inventory lot-sizing problem under non-stationary stochastic demand condition with emission and cycle service level constraints considering carbon cap-and-trade regulatory mechanism. Using a mixed integer linear programming model, this paper aims to investigate the effects of emission parameters, product- and system-related features on the supply chain performance through extensive computational experiments to cover general type business settings and not a specific scenario. Results show that cycle service level and demand coefficient of variation have significant impacts on total cost and emission irrespective of level of demand variability while the impact of product's demand pattern is significant only at lower level of demand variability. Finally, results also show that increasing value of carbon price reduces total cost, total emission and total inventory and the scope of emission reduction by increasing carbon price is greater at higher levels of cycle service level and demand coefficient of variation. The analysis of results helps supply chain managers to take right decision in different demand and service level situations.

Asymmetric price transmission in EU petroleum markets

This research investigates the determinants of asymmetric price transmission (APT) in European petroleum markets. APT is the faster response of retail prices to cost increases than to cost decreases; resulting in a welfare transfer from consumers to fuel retailers. I investigate APT at 3 different levels: the EU, the UK and at the Birmingham level. First, I examine the incidence of asymmetries in the retail markets of six major EU countries; significant asymmetries are found in all countries except from the UK. The market share data suggest that asymmetries are more important in more concentrated markets; this finding supports the collusion theory. I extend the investigation to 12 EU countries and note that APT is greater in diesel markets. The cross-country analysis suggests that vertical and horizontal concentration at least partly explains the degree of asymmetry. I provide evidence justifying scrutiny over retail markets’ pricing and structure. Second daily data unveil the presence of APT in the UK fuel markets. I use break tests to identify segments with different pricing regimes. Two main types of periods are identified: periods of rising oil price exhibit significant asymmetries whilst periods of recession do not. Our results suggest that oligopolistic coordination between retailers generate excess rents during periods of rising oil price whilst the coordination fails due to price wars when oil prices are going downwards. Finally I investigate the pricing behaviour of petroleum retailers in the Birmingham (UK) area for 2008. Whilst the market structure data reveals that the horizontal concentration is higher than the national UK average, I find no evidence of APT. In contrast, I find that retail prices are sticky upwards and downwards and that firms with market power (majors and supermarkets) adjust their prices slower than other firms.

Firm-level productivity growth in Northern Ireland:the impact of exporting, innovation and public financial assistance

Motivated by the historically poor productivity performance of Northern Ireland firms and the longstanding productivity gap with the UK, the aim of this thesis is to examine, through the use of firm-level data, how exporting, innovation and public financial assistance impact on firm productivity growth. These particular activities are investigated due to the continued policy focus on their link to productivity growth and the theoretical claims of a direct positive relationship. In order to undertake these analyses a newly constructed dataset is used which links together cross-sectional and longitudinal data over the 1998-2008 period from the Annual Business Survey, the Manufacturing Sales and Export Survey; the Community Innovation Survey and Invest NI Selective Financial Assistance (SFA) payment data. Econometric methodologies are employed to estimate each of the relationships with regards to productivity growth, making use in particular of Heckman selection techniques and propensity score matching to take account of critical issues of endogeneity and selection bias. The results show that more productive firms self-select into exporting but there is no resulting productivity effect from starting to export; contesting the argument for learning-by-exporting. Product innovation is also found to have no impact on productivity growth over a four year period but there is evidence of a negative process innovation impact, likely to reflect temporary learning effects. Finally SFA assistance, including the amount of the payment, is found to have no short term impact on productivity growth suggesting substantial deadweight effects and/or targeting of inefficient firms. The results provide partial evidence as to why Northern Ireland has failed to narrow the productivity gap with the rest of the UK. The analyses further highlight the need for access to comprehensive firm-level data for research purposes, not least to underpin robust evidence-based policymaking.

Monetáris hatásosság közösségi szinten (The community level efficiency of monetary policy)

A monetáris integráció központi szereplője a Közösség jegybankja. A közös valuta értékállóságának közvetlenül fő meghatározója a jegybank. Mozgásterét azonban több tényező alakítja. E tanulmány az intézményi és stratégiai, a tagállami (decentralizált fiskális) és a pénzpiaci környezet függvényében vizsgálja az Európai Központi Bank (ECB) lehetőségeit és monetáris politikájának hatásosságát. / === / The efficiency of the European Economic and Monetary Union is a big dilemma of European applied economics. The first part introduces the monetary policy made by ECB. Rates and objectives are the framework of efficiency analysis. The second part details the common pool resource problem in the community of EMU countries, and describes the prisoner's dilemma of indebting in a currency community. The EMU practice shows free riding behavior of many member states what generally causes higher default risks. The increasing indebtedness shows dysfunction too, as the ECB must adjust the interest rate to the higher default risk which means cost premiums for fiscally disciplined countries as well. The third part analyses the efficiency of the ECB through the standards of monetary transmission. The updated criteria can explain any success or failure of the ECB in a not perfectly homogeneous community. The measures of transmission used in the study are the way of financing (banks vs. market), terms of financing, structure of the banking sector, private sector indebtedness, structure of savings and wealth, price elasticity, interest rate elasticity, wage elasticity. They show that the single monetary policy can create tension in the community not only because of the fiscal differences but also due to money market discrepancies.

Drága-e a megújuló? – A hazai megújuló villamosenergia-termelés hatása a villamos energia árára (Is the renewable energy expensive? – Impact of the Hungarian renewable based power generation on electricity price)

A tanulmány arra keresi a választ, hogy a megújuló alapú áramtermelők támogatása csökkentőleg hathat- e a villamos energia nagykereskedelmi és kiskereskedelmi árára. Ez utóbbi tartalmazza a megújulók támogatásának összegét is. Számos elméleti cikk rámutatott arra, hogy nemcsak a nagykereskedelmi árak, hanem a kiskereskedelmi villamosenergia-árak is csökkenhetnek a drágább, megújuló alapú áramtermelők támogatása révén. A tanulmány során egy villamosenergia-piacokat szimuláló modell segítségével modellezi a szerző, hogy a különböző mennyiségű szélerőművi és fotovoltaikus kapacitás támogatása hogyan hat a magyarországi nagykereskedelmi és kiskereskedelmi árakra. _____ Impact of the Hungarian renewable based power generation on electricity price The aim of this paper is to answer the question whether the support of renewable power generation could decrease the wholesale and retail electricity prices. The latter one includes the support of renewables. Several studies point out that not only the wholesale, but the retail electricity prices could decrease when supporting the more expensive, renewable power generation. A model, which simulates the electricity markets, is used in order to analyse the impact of different level of wind and photo voltaic power generator support fee on Hungarian wholesale and retail electricity prices.

Az optimális ár meghatározásának módszere az értékteremtés szolgálatában (The method of determining the optimal price for the service of value creation)

A tanulmány a mikroökonómia eszközrendszerét és a hazai gépjárműpiac 2013-as adatait segítségül hívva egy új módszert mutat be az ármeghatározás területén. A kutatás központi kérdése az, hogy hol található az a pont, amikor a fogyasztó elégedett a kínált minőséggel és árral – lehetőleg megfelelő időben – és a vállalat is elégedett a megszerzett profittal. A tanulmányban tehát az ármeghatározás során központi szerepet játszik a minőség és az idő, mint értékteremtő funkció. Az elemzés egyik legfőbb következtetése, hogy a profitmaximumból levezetett optimális ár a minőség és az idő különböző paraméterei mellett meghatározható. A módszer segítségével a vállalatok közgazdasági eszközrendszer segítségével kapnak egy új szemléletet működési paramétereik és egyben versenyprioritásaik (ár, költség, minőségszint, idő) felállításához. _____ The study points to a new method for determining price with the tools of microeconomics and data of the Hungarian car market. The focus of the research is on where to find the point where the consumer is satisfied with the quality and price offered – preferably right time – and the company is satisfied with the profit achieved. In this study, therefore, in setting prices plays a central role the quality and time as a value-added feature. One of the main conclusions of the analysis is that the optimal price can be determined by various parameters of the quality and time. The method of using the economic tools help companies get a new perspective and to set up their optimal operating parameters (price, cost, quality level, time).

Differences in learning style preference among students of diverse ethnicities, gender, academic placement level, and academic achievement

This investigation studied the differences in learning styles among ethnically diverse secondary science students from a multicultural urban high school. It examined whether there were learning style differences among samples based on ethnicity, gender, academic grouping, and academic achievement. The learning style elements were based on scores of the Dunn, Dunn, and Price Learning Style Inventory (LSI) (1997). The sample (n = 476) consisted of students enrolled in Life Science courses. The analyses of data were made by one way analysis of variance (ANOVA) and multivariate analysis of variance (MANOVA). ^ Significant differences were found among students for three of the four groups tested. The largest numbers of differences in learning style element preference were in academic grouping, with eight significant differences showing small or medium effect sizes. There were four significant differences between genders and one significant difference among ethnic groups. Effect size was small. The data analyses showed that individual differences have a much bigger effect than group differences on learning style, and that proportions in learning style element categories reveal more information than means of groups. ^ This study implied the need to increase awareness of differences in learning styles among students and help educators to understand them. Other predictors of learning styles might account for a large amount of the unexplained variation. Overall, this study reinforces the body of existing literature. ^

Sea level rise and South Florida coastal forests

Coastal ecosystems lie at the forefront of sea level rise. We posit that before the onset of actual inundation, sea level rise will influence the species composition of coastal hardwood hammocks and buttonwood (Conocarpus erectus L.) forests of the Everglades National Park based on tolerance to drought and salinity. Precipitation is the major water source in coastal hammocks and is stored in the soil vadose zone, but vadose water will diminish with the rising water table as a consequence of sea level rise, thereby subjecting plants to salt water stress. A model is used to demonstrate that the constraining effect of salinity on transpiration limits the distribution of freshwater-dependent communities. Field data collected in hardwood hammocks and coastal buttonwood forests over 11 years show that halophytes have replaced glycophytes. We establish that sea level rise threatens 21 rare coastal species in Everglades National Park and estimate the relative risk to each species using basic life history and population traits. We review salinity conditions in the estuarine region over 1999–2009 and associate wide variability in the extent of the annual seawater intrusion to variation in freshwater inflows and precipitation. We also examine species composition in coastal and inland hammocks in connection with distance from the coast, depth to water table, and groundwater salinity. Though this study focuses on coastal forests and rare species of South Florida, it has implications for coastal forests threatened by saltwater intrusion across the globe.

Effect of child care subsidies on price and quality of care for low -income families

This dissertation examines the effect of regulations, resource and referral agencies, and subsidies on price and quality of care in child care centers. This research is based on a carefully developed conceptual framework that incorporates the factors affecting the demand and supply of child care. The first step in developing this framework is sketching out the structural equations. The structural equations help us understand the underlying behavior of individuals and firms making a decision. The exogenous variables are vector of attributes relating to family characteristics, child characteristics, regulations, subsidy, community characteristics and prices of inputs. Based on the structural equations, reduced form equations are estimated to find the effect of each of the exogenous variables on each of the endogenous variables. Reduced form equations help us answer public policy questions. The sample for this study is from the 1990 Profile of Child Care Settings (PCCS) data in which 2,089 center based programs were interviewed.^ Child/Staff Ratio (Group Level). Results indicate that among subsidies, only the state subsidy per child in poverty has a significant effect on the child/staff ratio at the group level. Presence of resource and referral agencies also increase the child/staff ratio at the group level. Also when the maximum center group size regulation for 25-36 months becomes more stringent, the child/staff ratio at the group level decreases.^ Child/Staff Ratio (Center Level). When the regulations for the maximum child/staff ratio for age groups 13-24 months and 37-60 months become lax, the child/staff ratio for the center increases. As the regulation for maximum group size for infants becomes stringent, the child/staff ratio decreases. An interesting finding is that as the regulations for maximum group size for age groups 13-24 months and 25-36 months become stringent, the child/staff ratio for the center increases. Another significant finding is that when a center is located in a rural area the child/staff ratio is significantly lower.^ Center Weighted Average Hourly Fees. Maximum group size regulations for age groups 25-36 months and 37-60 months have a negative effect on center hourly fee. Maximum child staff regulations for age groups 13-24 months and 37-60 months have a negative effect on center hourly fee. Maximum child staff regulations for age groups 0-12 months and 25-36 months have a positive effect on center hourly fee. Findings also indicate that the center average hourly price is lower when there is a resource and referral agency present. Cost adjusted prekindergarten funds and JOBS child care subsidies have a negative effect on average hourly fee. Cost adjusted social services block grant and state subsidy per child in poverty have a positive effect on the average hourly price. A major finding of this dissertation is the interaction of subsidy and regulatory variables.^ Another major finding is that child/staff ratio at the group level is lower when there is an interaction between geographic location and nature of center sponsorship. ^

Timescales for Detecting a Significant Acceleration in Sea Level Rise

There is observational evidence that global sea level is rising and there is concern that the rate of rise will increase, significantly threatening coastal communities. However, considerable debate remains as to whether the rate of sea level rise is currently increasing and, if so, by how much. Here we provide new insights into sea level accelerations by applying the main methods that have been used previously to search for accelerations in historical data, to identify the timings (with uncertainties) at which accelerations might first be recognized in a statistically significant manner (if not apparent already) in sea level records that we have artificially extended to 2100. We find that the most important approach to earliest possible detection of a significant sea level acceleration lies in improved understanding (and subsequent removal) of interannual to multidecadal variability in sea level records.

Effect of child care subsidies on price and quality of care for low -income families

This dissertation examines the effect of regulations, resource and referral agencies, and subsidies on price and quality of care in child care centers. This research is based on a carefully developed conceptual framework that incorporates the factors affecting the demand and supply of child care. The first step in developing this framework is sketching out the structural equations. The structural equations help us understand the underlying behavior of individuals and firms making a decision. The exogenous variables are vector of attributes relating to family characteristics, child characteristics, regulations, subsidy, community characteristics and prices of inputs. Based on the structural equations, reduced form equations are estimated to find the effect of each of the exogenous variables on each of the endogenous variables. Reduced form equations help us answer public policy questions. The sample for this study is from the 1990 Profile of Child Care Settings (PCCS) data in which 2,089 center based programs were interviewed. Child/Staff Ratio (Group Level): Results indicate that among subsidies, only the state subsidy per child in poverty has a significant effect on the child/staff ratio at the group level. Presence of resource and referral agencies also increase the child/staff ratio at the group level. Also when the maximum center group size regulation for 25-36 months becomes more stringent, the child/staff ratio at the group level decreases. Child/Staff Ratio (Center Level): When the regulations for the maximum child/staff ratio for age groups 13-24 months and 37-60 months become lax, the child/staff ratio for the center increases. As the regulation for maximum group size for infants becomes stringent, the child/staff ratio decreases. An interesting finding is that as the regulations for maximum group size for age groups 13-24 months and 25-36 months become stringent, the child/staff ratio for the center increases. Another significant finding is that when a center is located in a rural area the child/staff ratio is significantly lower. Center Weighted Average Hourly Fees: Maximum group size regulations for age groups 25-36 months and 37-60 months have a negative effect on center hourly fee. Maximum child staff regulations for age groups 13-24 months and 37-60 months have a negative effect on center hourly fee. Maximum child staff regulations for age groups 0-12 months and 25-36 months have a positive effect on center hourly fee. Findings also indicate that the center average hourly price is lower when there is a resource and referral agency present. Cost adjusted prekindergarten funds and JOBS child care subsidies have a negative effect on average hourly fee. Cost adjusted social services block grant and state subsidy per child in poverty have a positive effect on the average hourly price. A major finding of this dissertation is the interaction of subsidy and regulatory variables. Another major finding is that child/staff ratio at the group level is lower when there is an interaction between geographic location and nature of center sponsorship.

Qualidade dos serviços hoteleiros: percepções dos turistas de negócios de Teresina-PI

Business tourism is one of tourist segments with different market characteristics in relation to others segmentations, such as low seasonality, there is no requirement of natural attractions, it serves as destination projection and it generates profitable larger numbers. Due to the context around business travels, the hotel so many times has a fundamental whole among the elements of the production chain in this segmentation. Business tourism in Teresina is the primary segmentation of the capital, since it represents almost 70% of hotel demand; hence this research has as objective to evaluate through the perceptions of business travelers, the level of quality services of hotels of Teresina. The research is exploratory and descriptive, of functionalist character. This study is characterized by qualitative and quantitative research, supported by a basis of methodological pluralism. For primary data collection was performed applying a suitable research instrument of SERVPERF model (Service Performance). The universe of this study were Teresina's accommodations, restricted to only those that fit in hotel category and it was inside metropolitan area of Teresina. The study subjects were business travelers who were hosted in these hotels. For the analysis, it was considered certain factors: descriptive analysis, factor analysis, correlation matrix analysis of the variables; It was still compiling a graphic of lexicons obtained in the survey about respondent's the notion of quality of vision in the hotel service; Finally, qualitative analysis was based on the theories of marketing, targeting and quality of tourism services applied. The results show that the Teresina hotel service is on a regular average, especially for Reliability and Safety dimensions were highlighted. Whereas, the factor analysis showed the emergence of two factors to explain "Empathy" dimension, one of this is about the organization and the other one is about consumer. And by Lexicometria was possible to observe the importance to the customer of other variables such as: personal aspects, price and location for this tour segmentation.

Development and Characterization of Monovalent and Bivalent RNA Aptamers Targeting the Common Pathway of Coagulation

Anticoagulant agents are commonly used drugs to reduce blood coagulation in acute and chronic clinical settings. Many of these drugs target the common pathway of coagulation because it is critical for thrombin generation and disruption of this portion of the pathway has profound effects on the hemostatic process. Currently available drugs for these indications struggle with balancing desired activity with immunogenicity and poor reversibility or irreversibility in the event of hemorrhage. While improvements are being made with the current drugs, new drugs with better therapeutic indices are needed for surgical intervention and chronic indications to prevent thrombosis from occurring.

A class of therapeutics known as aptamers may be able to meet the need for safer anticoagulant agents. Aptamer are short single-stranded RNA oligonucleotides that adopt specific secondary and tertiary structures based upon their sequence. They can be generated to both enzymes and cofactors because they derive their inhibitory activity by blocking protein-protein interactions, rather than active site inhibition. They inhibit their target proteins with a high level of specificity and bind with high affinity to their target. Additionally, they can be reversed using two different antidote approaches, specific oligonucleotide antidotes, or with cationic, “universal” antidotes. The reversal of their activity is both rapid and durable.

The ability of aptamers to be generated to cofactors has been conclusively proven by generating an aptamer targeting the common pathway coagulation cofactor, Factor V (FV). We developed two aptamers with anticoagulant ability that bind to both FV and FVa, the active cofactor. Both aptamers were truncated to smaller functional sizes and had specific point mutant aptamers developed for use as controls. The anticoagulant activity of both aptamer-mutant pairs was characterized using plasma-based clotting assays and whole blood assays. The mechanism of action resulting in anticoagulant activity was assessed for one aptamer. The aptamer was found to block FVa docking to membrane surfaces, a mechanism not previously observed in any of our other anticoagulant aptamers.

To explore development of aptamers as anticoagulant agents targeting the common pathway for surgical interventions, we fused two anticoagulant aptamers targeting Factor X and prothrombin into a single molecule. The bivalent aptamer was truncated to a minimal size while maintaining robust anticoagulant activity. Characterization of the bivalent aptamer in plasma-based clotting assays indicated we had generated a very robust anticoagulant therapeutic. Furthermore, we were able to simultaneously reverse the activity of both aptamers with a single oligonucleotide antidote. This rapid and complete reversal of anticoagulant activity is not available in the antithrombotic agents currently used in surgery.

Essays on optimal fiscal and monetary policies

Cette thèse se compose de trois articles sur les politiques budgétaires et monétaires optimales. Dans le premier article, J'étudie la détermination conjointe de la politique budgétaire et monétaire optimale dans un cadre néo-keynésien avec les marchés du travail frictionnels, de la monnaie et avec distortion des taux d'imposition du revenu du travail. Dans le premier article, je trouve que lorsque le pouvoir de négociation des travailleurs est faible, la politique Ramsey-optimale appelle à un taux optimal d'inflation annuel significativement plus élevé, au-delà de 9.5%, qui est aussi très volatile, au-delà de 7.4%. Le gouvernement Ramsey utilise l'inflation pour induire des fluctuations efficaces dans les marchés du travail, malgré le fait que l'évolution des prix est coûteuse et malgré la présence de la fiscalité du travail variant dans le temps. Les résultats quantitatifs montrent clairement que le planificateur s'appuie plus fortement sur l'inflation, pas sur l'impôts, pour lisser les distorsions dans l'économie au cours du cycle économique. En effet, il ya un compromis tout à fait clair entre le taux optimal de l'inflation et sa volatilité et le taux d'impôt sur le revenu optimal et sa variabilité. Le plus faible est le degré de rigidité des prix, le plus élevé sont le taux d'inflation optimal et la volatilité de l'inflation et le plus faible sont le taux d'impôt optimal sur le revenu et la volatilité de l'impôt sur le revenu. Pour dix fois plus petit degré de rigidité des prix, le taux d'inflation optimal et sa volatilité augmentent remarquablement, plus de 58% et 10%, respectivement, et le taux d'impôt optimal sur le revenu et sa volatilité déclinent de façon spectaculaire. Ces résultats sont d'une grande importance étant donné que dans les modèles frictionnels du marché du travail sans politique budgétaire et monnaie, ou dans les Nouveaux cadres keynésien même avec un riche éventail de rigidités réelles et nominales et un minuscule degré de rigidité des prix, la stabilité des prix semble être l'objectif central de la politique monétaire optimale. En l'absence de politique budgétaire et la demande de monnaie, le taux d'inflation optimal tombe très proche de zéro, avec une volatilité environ 97 pour cent moins, compatible avec la littérature. Dans le deuxième article, je montre comment les résultats quantitatifs impliquent que le pouvoir de négociation des travailleurs et les coûts de l'aide sociale de règles monétaires sont liées négativement. Autrement dit, le plus faible est le pouvoir de négociation des travailleurs, le plus grand sont les coûts sociaux des règles de politique monétaire. Toutefois, dans un contraste saisissant par rapport à la littérature, les règles qui régissent à la production et à l'étroitesse du marché du travail entraînent des coûts de bien-être considérablement plus faible que la règle de ciblage de l'inflation. C'est en particulier le cas pour la règle qui répond à l'étroitesse du marché du travail. Les coûts de l'aide sociale aussi baisse remarquablement en augmentant la taille du coefficient de production dans les règles monétaires. Mes résultats indiquent qu'en augmentant le pouvoir de négociation du travailleur au niveau Hosios ou plus, les coûts de l'aide sociale des trois règles monétaires diminuent significativement et la réponse à la production ou à la étroitesse du marché du travail n'entraîne plus une baisse des coûts de bien-être moindre que la règle de ciblage de l'inflation, qui est en ligne avec la littérature existante. Dans le troisième article, je montre d'abord que la règle Friedman dans un modèle monétaire avec une contrainte de type cash-in-advance pour les entreprises n’est pas optimale lorsque le gouvernement pour financer ses dépenses a accès à des taxes à distorsion sur la consommation. Je soutiens donc que, la règle Friedman en présence de ces taxes à distorsion est optimale si nous supposons un modèle avec travaie raw-efficace où seule le travaie raw est soumis à la contrainte de type cash-in-advance et la fonction d'utilité est homothétique dans deux types de main-d'oeuvre et séparable dans la consommation. Lorsque la fonction de production présente des rendements constants à l'échelle, contrairement au modèle des produits de trésorerie de crédit que les prix de ces deux produits sont les mêmes, la règle Friedman est optimal même lorsque les taux de salaire sont différents. Si la fonction de production des rendements d'échelle croissant ou decroissant, pour avoir l'optimalité de la règle Friedman, les taux de salaire doivent être égales.