Saving, productivity and national income: a discrete-time geometric framework

This paper proposes an alternative geometric framework for analysing the inter-relationship between domestic saving, productivity and income determination in discrete time. The framework provides a means of understanding how low saving economies like the United States sustained high growth rates in the 1990s whereas high saving Japan did not. It also illustrates how the causality between saving and economic activity runs both ways and that discrete changes in national output and income depend on both current and previous accumulation behaviour. The open economy analogue reveals how international capital movements can create external account imbalances that enhance income growth for both borrower and lender economies. (C) 2002 Elsevier Science B.V. All rights reserved.

Comparing the schedulers and power saving strategies with SPARTS

We have developed SPARTS, a simulator of a generic embedded real-time device. It is designed to be extensible to accommodate different task properties, scheduling algorithms and/or hardware models for the wide variety of applications. SPARTS was developed to help the community investigate the behaviour of the real-time embedded systems and to quantify the associated constraints/overheads.

Saving energy in the GFRP pultrusion process

This study addresses to the optimization of pultrusion manufacturing process from the energy-consumption point of view. The die heating system of external platen heaters commonly used in the pultrusion machines is one of the components that contribute the most to the high consumption of energy of pultrusion process. Hence, instead of the conventional multi-planar heaters, a new internal die heating system that leads to minor heat losses is proposed. The effect of the number and relative position of the embedded heaters along the die is also analysed towards the setting up of the optimum arrangement that minimizes both the energy rate and consumption. Simulation and optimization processes were greatly supported by Finite Element Analysis (FEA) and calibrated with basis on the temperature profile computed through thermography imaging techniques. The main outputs of this study allow to conclude that the use of embedded cylindrical resistances instead of external planar heaters leads to drastic reductions of both the power consumption and the warm-up periods of the die heating system. For the analysed die tool and process, savings on energy consumption up to 60% and warm-up period stages less than an half hour were attained with the new internal heating system. The improvements achieved allow reducing the power requirements on pultrusion process, and thus minimize industrial costs and contribute to a more sustainable pultrusion manufacturing industry.

Race-to-halt energy saving strategies

Energy consumption is one of the major issues for modern embedded systems. Early, power saving approaches mainly focused on dynamic power dissipation, while neglecting the static (leakage) energy consumption. However, technology improvements resulted in a case where static power dissipation increasingly dominates. Addressing this issue, hardware vendors have equipped modern processors with several sleep states. We propose a set of leakage-aware energy management approaches that reduce the energy consumption of embedded real-time systems while respecting the real-time constraints. Our algorithms are based on the race-to-halt strategy that tends to run the system at top speed with an aim to create long idle intervals, which are used to deploy a sleep state. The effectiveness of our algorithms is illustrated with an extensive set of simulations that show an improvement of up to 8% reduction in energy consumption over existing work at high utilization. The complexity of our algorithms is smaller when compared to state-of-the-art algorithms. We also eliminate assumptions made in the related work that restrict the practical application of the respective algorithms. Moreover, a novel study about the relation between the use of sleep intervals and the number of pre-emptions is also presented utilizing a large set of simulation results, where our algorithms reduce the experienced number of pre-emptions in all cases. Our results show that sleep states in general can save up to 30% of the overall number of pre-emptions when compared to the sleep-agnostic earliest-deadline-first algorithm.

VO2 thin films and nanoparticles for energy-saving applications in architectural elements

Vanadium dioxide (VO2) is a promising material with large interest in construction industry and architecture, due to its thermochromic properties. This material may be used to create "smart" coatings that result in improvements in the buildings energy efficiency, by reducing heat exchanges and, consequently, the need for acclimatization. In this work, VO2 thin films and coatings were produced and tested in laboratory, to apply in architectural elements, such as glass, rooftop tiles and exterior paints. Thin films were produced by RF magnetron sputtering and VO2 nanoparticles were obtained through hydrothermal synthesis, aiming to create "smart" windows and tiles, respectively. These coatings have demonstrated the capability to modulate the transmittance of infrared radiation by around 20%. The VO2 nanoparticle coatings were successfully applied on ceramic tiles. The critical temperature was reduced to around 40ºC by tungsten doping. Ultimately, two identical house models were built, in order to test the VO2 coatings, in real atmospheric conditions during one of the hottest months of the year, in Portugal – August.

The role of guarantees in pension plan design: Pension saving decisions

This study centers on the assessment of psychological value of guarantees in pension products and the behavior biases associated with choice. When a guarantee on a product increases from 99% to 99,5% less than half of respondents show willingness to pay in contrast with 73% when going from 99,5% to 100%. Out of 105 respondents, 55 show that their choices concerning pension products are inconsistent with classic utility theory. Financial background proves insignificant thus pointing to behavioral biases. As individuals make choices that leave them worse-off, we argue that pension plan design would highly benefit from public policy interventions.

Democratization as a cost-saving device

We propose a theoretical analysis of democratization processes in which an elite extends the franchise to the poor when threatened with a revolution. The poor could govern without changing the political system by maintaining a continuous revolutionary threat on the elite. Revolutionary threats, however, are costly to the poor and democracy is a superior sys- tem in which political agreement is reached through costless voting. This provides a rationale for democratic transitions that has not been discussed in the literature.

North Sea Oil and Genuine Saving in the Scottish Economy

The World Bank has published estimates of sustainability of consumption paths by adjusting saving rates to take account of the depletion of non-renewable resources. During the period of North Sea oil production Scotland has been in a fiscal union with the rest of the UK. The present paper adjusts the World Bank data to produce separate genuine saving estimates for Scotland and the rest of the UK for 1970-2009, based on a ‘derivation’ principle for oil revenues. The calculations indicate that Scotland has had a negative genuine saving rate for most of the period of exploitation of North Sea oil resources, with genuine saving being positive in the rest of the UK during this period.

Saving and Re-building Lives: an Analysis of the Determinants of Disaster Relief

We analyse both theoretically and empirically, the factors that influence the amount of humanitarian aid which countries receive when they are struck by natural disasters. Our investigation particularly distinguishes between immediate disaster relief which helps the survival of victims and long term humanitarian aid given towards reconstruction and rehabilitation. The theoretical model is able to make predictions as well as explain some of the peculiarities in the empirical results. The empirical analysis, making use of some useful data sources, show that both short and long term humanitarian aid increase with number of people killed, financial loss and level of corruption, while GDP per capita has no effect. Number of people affected had no effect on short term aid, but significantly increased long term aid. Both types of aid increased if the natural disaster was an earthquake, tsunami or drought. In addition, short term aid increases in response to a flood while long term aid increases in response to storms.

North Sea Oil and Genuine Saving in the Scottish Economy

The World Bank has published estimates of sustainability of consumption paths by adjusting saving rates to take account of the depletion of non-renewable resources. During the period of North Sea oil production Scotland has been in a fiscal union with the rest of the UK. The present paper adjusts the World Bank data to produce separate genuine saving estimates for Scotland and the rest of the UK for 1970-2009, based on a ‘derivation’ principle for oil revenues. The calculations indicate that Scotland has had a negative genuine saving rate for most of the period of exploitation of North Sea oil resources, with genuine saving being positive in the rest of the UK during this period.