919 resultados para collapse of speculative bubbles
Resumo:
A typical residual clayey soil originating from basalt in southern Brazil has been analyzed in order to assess the influence of wetting-induced deformation and microstructural features on the collapse behavior. Single and double oedometer tests were undertaken on a soil profile to 9 m depth. The results indicated collapsible behaviour at all profile depths. The influence of pre-consolidation stress and pedogenetic factors in the variability of the physical characteristics of the soil and in the magnitude of the collapse was noted. The collapse coefficient has been shown to be related to the both the microaggregate plasma and the varying nature of the pores and their interconnectivity.
Resumo:
Ecological extinction caused by overfishing precedes all other pervasive human disturbance to coastal ecosystems, including pollution, degradation of water quality, and anthropogenic climate change. Historical abundances of large consumer species were fantastically large in comparison with recent observations. Paleoecological, archaeological, and historical data show that time lags of decades to centuries occurred between the onset of overfishing and consequent changes in ecological communities, because unfished species of similar trophic level assumed the ecological roles of overfished species until they too were overfished or died of epidemic diseases related to overcrowding. Retrospective data not only help to clarify underlying causes and rates of ecological change, but they also demonstrate achievable goals for restoration and management of coastal ecosystems that could not even be contemplated based on the limited perspective of recent observations alone.
Resumo:
In computer simulations of smooth dynamical systems, the original phase space is replaced by machine arithmetic, which is a finite set. The resulting spatially discretized dynamical systems do not inherit all functional properties of the original systems, such as surjectivity and existence of absolutely continuous invariant measures. This can lead to computational collapse to fixed points or short cycles. The paper studies loss of such properties in spatial discretizations of dynamical systems induced by unimodal mappings of the unit interval. The problem reduces to studying set-valued negative semitrajectories of the discretized system. As the grid is refined, the asymptotic behavior of the cardinality structure of the semitrajectories follows probabilistic laws corresponding to a branching process. The transition probabilities of this process are explicitly calculated. These results are illustrated by the example of the discretized logistic mapping.
Resumo:
We develop a stylized model of economic growth with bubbles. In this model, changes in investorsentiment lead to the appearance and collapse of macroeconomic bubbles or pyramid schemes.We show how these bubbles mitigate the effects of financial frictions. During bubbly episodes,unproductive investors demand bubbles while productive investors supply them. These transfersof resources improve the efficiency at which the economy operates, expanding consumption, thecapital stock and output. When bubbly episodes end, these transfers stop and consumption, thecapital stock and output contract. We characterize the stochastic equilibria of the model and arguethat they provide a natural way of introducing bubble shocks into business cycle models.
Resumo:
We present experiments where opposed pairs of planar parallel disclination lines of topological strength s=±1 move due to their mutual attraction. Our measurements show that their motion is clearly asymmetric, with +1 defects moving up to twice as fast as -1 ones. This is a clear indication of backflow, given the intrinsic isotropic elasticity of our system. A phenomenological model is able to account for the experimental observations by renormalizing the orientational diffusivity estimated from the velocity of each defect.
Resumo:
The Permian Chert Event (PCE) was a 30 Ma long episode of unusual chert accumulation along the northwest margin of Pangea, and possibly worldwide. The onset of the PCE occurred at about the Sakmarian-Artinskian boundary in the Sverdrup Basin, Canadian Arctic, where it coincides with a maximum flooding event, the ending of high-frequency/high-amplitude shelf cyclicity, the onset of massive biogenic chert deposition in deep-water distal areas, and a long-term shift from warm- to cool-water carbonate sedimentation in shallow-water proximal areas. A similar and coeval shift is observed from the Barents Sea to the northwestern USA. A landward and southward expansion of silica factories occurred during the Middle and Late Permian at which time warm-water carbonate producers disappeared completely from the northwest margin of Pangea. Biotically impoverished and increasingly narrow cold-water carbonate factories (characterised by non-cemented bioclasts of sponges, bryozoans, echinoderms and brachiopods) were then progressively replaced by silica factories. By Late Permian time, little carbonate sediments accumulated in the Barents Sea and in the Sverdrup Basin. where the deep- to shallow-water sedimentary spectrum was occupied by siliceous sponge spicules. By that time, biogenic silica sedimentation was common throughout the world. Silica factories collapsed in the Late Permian, abruptly bringing the PCE to an end. In northwest Pangea, the end- Permian collapse of the PCE was associated with a major transgression and with a return to much warmer oceanic and continental climatic conditions. Chert deposition resumed in the distal oceanic areas during the early Middle Triassic (Anisian) after a 8-10 Ma interruption (Early Triassic Chert Gap). The conditions necessary for the onset, expansion and zenith of the PCE were provided by the thermohaline circulation of nutrient-rich cold waters along the northwestern and western margin of Pangea, and possibly throughout the world oceans. These conditions provided an efficient transportation mechanism that constantly replenished the supply of silica in the area, created a nutrient- and oxygen-rich environment favouring siliceous biogenic productivity. established cold sea-floor conditions, hindering silica dissolution, while increasing calcium carbonate solubility, and provided conditions adverse to organic and inorganic carbonate production, The northwest margin of Pangea was, for nearly 30 Ma. bathed by cold waters presumably derived from the seasonal melting of northern sea ice, the assumed engine for thermohaline circulation. This process started near the Sakmarian-Artinskian boundary. intensified throughout Middle and Late Permian time and ceased suddenly in latest Permian time, It led to oceanic conditions much colder than normally expected from the palaeolatitudes. and the influence of cold northerly-derived water was felt as far south southern Nevada. The demise of silica factories was caused by the rapid breakdown of these conditions and the establishment of a much warmer marine environment accompanied by sluggish circulation and perhaps a reduced input of dissolved silica to the ocean. Complete thawing of northern sea ice would have ended thermohaline circulation and led to warm and sluggish oceanic conditions inimical to the production. accumulation and preservation of biogenic silica.
Resumo:
The objective of this thesis was to study the removal of gases from paper mill circulation waters experimentally and to provide data for CFD modeling. Flow and bubble size measurements were carried out in a laboratory scale open gas separation channel. Particle Image Velocimetry (PIV) technique was used to measure the gas and liquid flow fields, while bubble size measurements were conducted using digital imaging technique with back light illumination. Samples of paper machine waters as well as a model solution were used for the experiments. The PIV results show that the gas bubbles near the feed position have the tendency to escape from the circulation channel at a faster rate than those bubbles which are further away from the feed position. This was due to an increased rate of bubble coalescence as a result of the relatively larger bubbles near the feed position. Moreover, a close similarity between the measured slip velocities of the paper mill waters and that of literature values was obtained. It was found that due to dilution of paper mill waters, the observed average bubble size was considerably large as compared to the average bubble sizes in real industrial pulp suspension and circulation waters. Among the studied solutions, the model solution has the highest average drag coefficient value due to its relatively high viscosity. The results were compared to a 2D steady sate CFD simulation model. A standard Euler-Euler k-ε turbulence model was used in the simulations. The channel free surface was modeled as a degassing boundary. From the drag models used in the simulations, the Grace drag model gave velocity fields closest to the experimental values. In general, the results obtained from experiments and CFD simulations are in good qualitative agreement.
Resumo:
Submarine hull structure is a watertight envelope, under hydrostatic pressure when in operation. Stiffened cylindrical shells constitute the major portion of these submarine hulls and these thin shells under compression are susceptible to buckling failure. Normally loss of stability occurs at the limit point rather than at the bifurcation point and the stability analysis has to consider the change in geometry at each load step. Hence geometric nonlinear analysis of the shell forms becomes. a necessity. External hydrostatic pressure will follow the deformed configuration of the shell and hence follower force effect has to be accounted for. Computer codes have been developed based on all-cubic axisymmetric cylindrical shell finite element and discrete ring stiffener element for linear elastic, linear buckling and geometric nonIinear analysis of stiffened cylindrical shells. These analysis programs have the capability to treat hydrostatic pressure as a radial load and as a follower force. Analytical investigations are carried out on two attack submarine cylindrical hull models besides standard benchmark problems. In each case, the analysis has been carried out for interstiffener, interdeepframe and interbulkhead configurations. The shell stiffener attachment in each of this configuration has been represented by the simply supported-simply supported, clamped-clamped and fixed-fixed boundary conditions in this study. The results of the analytical investigations have been discussed and the observations and conclusions are described. Rotation restraint at the ends is influential for interstiffener and interbulkhead configurations and the significance of axial restraint becomes predominant in the interbulkhead configuration. The follower force effect of hydrostatic pressure is not significant in interstiffener and interdeepframe configurations where as it has very high detrimental effect on buckling pressure on interbulkhead configuration. The geometric nonlinear interbulkhead analysis incorporating follower force effect gives the critical value of buckling pressure and this analysis is recommended for the determination of collapse pressure of stiffened cylindrical submarine shells.
Resumo:
Esta guía ha sido escrita por un examinador y explica los requisitos de cada unidad, resume el contenido relevante de cada unidad e incluye una serie de preguntas y respuestas. Cumple los requisitos establecidos para aprobar el examen de historia del nivel Edexcel AS que pertenece al segundo ciclo de enseñanza secundaria. El tema principal del libro es el colapso del estado liberal y el triunfo del fascismo en Italia, 1896-1943, los temas secundarios son: Italia en 1896, el impacto de la Primera Guerra Mundial en Italia, la crisis económica y política de la posguerra, el aumento del fascismo en 1922, la creación del estado fascista, la política de Mussolini, y el impacto de la Segunda Guerra Mundial en Italia.
Resumo:
This paper uses a regime-switching approach to determine whether prices in the US stock, direct real estate and indirect real estate markets are driven by the presence of speculative bubbles. The results show significant evidence of the existence of periodically partially collapsing speculative bubbles in all three markets. A multivariate bubble model is then developed and implemented to evaluate whether the stock and real estate bubbles spill over into REITs. The underlying stock market bubble is found to be a stronger influence on the securitised real estate market bubble than that of the property market. Furthermore, the findings suggest a transmission of speculative bubbles from the direct real estate to the stock market, although this link is not present for the returns themselves.
Resumo:
Speculative bubbles are generated when investors include the expectation of the future price in their information set. Under these conditions, the actual market price of the security, that is set according to demand and supply, will be a function of the future price and vice versa. In the presence of speculative bubbles, positive expected bubble returns will lead to increased demand and will thus force prices to diverge from their fundamental value. This paper investigates whether the prices of UK equity-traded property stocks over the past 15 years contain evidence of a speculative bubble. The analysis draws upon the methodologies adopted in various studies examining price bubbles in the general stock market. Fundamental values are generated using two models: the dividend discount and the Gordon growth. Variance bounds tests are then applied to test for bubbles in the UK property asset prices. Finally, cointegration analysis is conducted to provide further evidence on the presence of bubbles. Evidence of the existence of bubbles is found, although these appear to be transitory and concentrated in the mid-to-late 1990s.