A comparative study of aging of the elastic fiber system of the diaphragm and the rectus abdominis muscles in rats

In the present study the age-related changes of the striated muscle elastic fiber system were investigated in the diaphragm and rectus abdominis muscles of 1-, 4-, 8- and 18-month-old rats. The activation patterns of these muscles differ in that the diaphragm is regularly mobilized tens of times every minute during the entire life of the animal whereas the rectus abdominis, although mobilized in respiration, is much less and more irregularly activated. The elastic fibers were stained by the Verhoeff technique for mature elastic fibers. Weigert stain was used to stain mature and elaunin elastic fibers, and Weigert-oxone to stain mature, elaunin and oxytalan elastic fibers. The density of mature and elaunin elastic fibers showed a progressive increase with age, whereas the amount of oxytalan elastic fibers decreased in both diaphragm and rectus abdominis muscles and their muscular fascias. These age-related quantitative and structural changes of the elastic fiber system may reduce the viscoelastic properties of the diaphragm and rectus abdominis muscles, which may compromise the transmission of tensile muscle strength to the tendons and may affect maximum total strength.

Effect of adding unconventional raw materials on the technological properties of rice fresh pasta

The aim of this study was to develop fettuccini type rice fresh pasta by cold extrusion. To produce the pasta, a 2² Central Composite Rotational Design was used, in which the effects of the addition of pre-gelatinized rice flour - PGRF (0-60%) and modified egg albumin - MEA (0-10%) were studied. The dependent variables were the results of the cooking test and of the instrumental texture. The optimum cooking time for all of the formulations of rice fresh pasta was 3 minutes. MEA had a greater effect on increasing the weight of the pasta when compared to that of PGRF. It was found that with the addition of PGRF increase in loss of solids in cooking water, whereas MEA exerted the opposite effect on this parameter. Moreover, the maximum value of MEA (10%) had an optimum effect on pasta firmness, while PGRF had a negative effect on this parameter. The maximum values of PGRF and MEA reduced the stickiness of the pasta. Based on these results and on the parameters considered as most important, the rice pasta with the best technological characteristics was that with the maximum levels of MEA (10%) and no addition of PGRF (0%). This product was submitted to sensory and microbiological analyses, with good results.

The effect of pH and ethanol on the astringent sub-qualities of red wine, and the implications for optimum grape maturity /

The first objective of this study was to identify appropriate sensory descriptors to assess the astringent sub-qualities of red wine. The influence of pH and ethanol on the sensation of astringency in red wine was evaluated, using a de-alcoholized red wine. A portion of the wine was adjusted to the pH values of 3.2, 3.4, 3.6 and 3.8, and another portion was adjusted to ethanol concentrations of 0%, 6%, 12%, and 15%. In addition, the pH 3.4 and 3.6 treatments were adjusted to an ethanol concentration of 12% and 15% all wines were then assessed sensorially and seventeen terms were identified, through panel discussion, to describe the mouth-feel and taste qualities: velvet, aggressive, silk/satin, dry, fleshy, unripe, pucker viscosity, abrasive, heat, chewy, acidity, grippy/adhesive, bitter, balance, overall astringency, and mouth-coat. Descriptive analysis profiling techniques were used to train the panel and measure the intensity of these attributes. It was found that decreasing pH values (averaged across all ethanol concentrations) showed an increase in the overall astringency of the wine. The combined treatments of ethanol and pH, real wine parameters (pH 3.4 and 3.6; 12% and 15% ethanol) did not have an effect on the perception of the astringent sub-qualities of the wine. A time intensity study was also included using the pH and ethanol adjusted wines, which showed that as the ethanol level of the wines increased so did the time to maximum intensity. The second objective was to identify appropriate sensory descriptors to evaluate the influence of grape maturity and maceration technique (grape skin contact) on the astringency sub-qualities of red vinifera wines from Niagara. The grapes were harvested across two dates, representing an early harvest and a late harvest. A portion of the Cabernet Sauvignon grapes wine was divided into three maceration treatments of oneweek maceration, standard two-week maceration, three-week maceration, and MCM. Another portion of both the early and late harvest Cabernet Sauvignon grapes were chaptalized to yield a final ethanol concentration of 14.5%. The wines were assessed sensorially and thirteen terms were identified, through panel discussion, to describe the mouth-feel and taste qualities: carbon dioxide, pucker, acidity, silk/chamois, dusty/chalky/powdery, sandpaper, numbing, grippy/adhesive, dry, mouthcoat, bitter, balance and, overall astringency. Descriptive analysis techniques were used to train the panel and measure the intensity of these attributes. The data revealed few significant differences in the mouth-feel of the wines with respect to maturity; which included differences in overall astringency and balance. There were varietal differences between Cabernet Sauvignon, Cabernet Franc, and Pinot Noir and differences for Cabernet Sauvignon wines due to the length and manner of maceration and as a result of chaptalization. Statistical analysis revealed a more complex mouth-feel for the Pinot Noir wines; and an increase in the intensity of the astringent sub-qualities as a result of the addition of sugar to the wines. These findings have implications for how processing decisions, such as optimum grape maturity and vinification methods may affect red wine quality.

The Welland Canals Foundation, Honourable William Hamilton Merritt and the St. Catharines Historical Society and Museum, 1971-1990, n.d.

‘The Father of Canadian Transportation’ is a term commonly associated with William Hamilton Merritt. Although he is most known for being one of the driving forces behind the building of the first Welland Canal, he was many things throughout his life; a soldier, merchant, promoter, entrepreneur and politician to name a few. Born on July 3, 1793 at Bedford, Westchester County, N.Y. to Thomas Merritt and Mary Hamilton, Merritt’s family relocated to Canada shortly after in 1796. The move came after Merritt’s father petitioned John Graves Simcoe for land in Upper Canada after serving under him in the Queen’s Rangers during the American Revolution. The family quickly settled into their life at Twelve Mile Creek in St. Catharines. Merritt’s father became sheriff of Lincoln County in 1803 while Merritt began his education in mathematics and surveying. After some brief travel and further education Merritt returned to Lincoln County, in 1809 to help farm his father’s land and open a general store. While a farmer and merchant, Merritt turned his attention to military endeavours. A short time after being commissioned as a Lieutenant in the Lincoln militia, the War of 1812 broke out. Fulfilling his duty, Merritt fought in the Battle of Queenston Heights in October of 1812, and numerous small battles until the Battle of Lundy’s Lane in July 1814. It was here that Merritt was captured and held in Cheshire, Massachusetts until the war ended. Arriving back in the St. Catharines area upon his release, Merritt returned to being a merchant, as well as becoming a surveyor and mill owner. Some historians hypothesize that the need to draw water to his mill was how the idea of the Welland Canals was born. Beginning with a plan to connect the Welland River with the Twelve mile creek quickly developed into a connection between the Lakes Erie and Ontario. Its main purpose was to improve the St. Lawrence transportation system and provide a convenient way to transport goods without having to go through the Niagara Falls portage. The plan was set in motion in 1818, but most living in Queenston and Niagara were not happy with it as it would drive business away from them. Along with the opposition came financial and political restraints. Despite these factors Merritt pushed on and the Welland Canal Company was chartered by the Upper Canadian Assembly on January 19, 1824. The first sod was turned on November 30, 1824 almost a year after the initial chartering. Many difficulties arose during the building of the canal including financial, physical, and geographic restrictions. Despite the difficulties two schooners passed through the canal on November 30, 1829. Throughout the next four years continual work was done on the canal as it expended and was modified to better accommodate large ships. After his canal was underway Merritt took a more active role in the political arena, where he served in various positions throughout Upper Canada. In 1851, Merritt withdrew from the Executive Council for numerous reasons, one of which being that pubic interest had diverted from the canals to railways. Merritt tried his hand at other public works outside transportation and trade. He looked into building a lunatic asylum, worked on behalf of War of 1812 veterans, aided in building Brock’s monument, established schools, aided refugee slaves from the U.S. and tried to establish a National Archives among many other feats. He was described by some as having “policy too liberal – conceptions too vast – views too comprehensive to be comprehensible by all”, but he still made a great difference in the society in which he lived. After his great contributions, Merritt died aboard a ship in the Cornwall canal on July 5, 1862. Dictionary of Canadian Biography Online http://www.biographi.ca/EN/ShowBio.asp?BioId=38719 retrieved October 2006 Today numerous groups carry on the legacy of Merritt and the canals both in the past and present. One such group is the Welland Canals Foundation. They describe themselves as: “. . . a volunteer organization which strives to promote the importance of the present and past Welland Canals, and to preserve their history and heritage. The Foundation began in 1980 and carries on events like William Hamilton Merritt Day. The group has strongly supported the Welland Canals Parkway initiative and numerous other activities”. The Welland Canals Foundation does not work alone. They have help from other local groups such as the St. Catharines Historical Society. The Society’s main objective is to increase knowledge and appreciation of the historical aspects of St. Catharines and vicinity, such as the Welland Canals. http://www.niagara.com/~dmdorey/hssc/dec2000.html - retrieved Oct. 2006 http://www.niagara.com/~dmdorey/hssc/feb2000.html - retrieved Oct. 2006

Design thinking and the precautionary principle : development of a theoretical model complementing preventive judgment for design for sustainability enriched through a study of architectural competitions adopting LEED

Cette thèse contribue à une théorie générale de la conception du projet. S’inscrivant dans une demande marquée par les enjeux du développement durable, l’objectif principal de cette recherche est la contribution d’un modèle théorique de la conception permettant de mieux situer l’utilisation des outils et des normes d’évaluation de la durabilité d’un projet. Les principes fondamentaux de ces instruments normatifs sont analysés selon quatre dimensions : ontologique, méthodologique, épistémologique et téléologique. Les indicateurs de certains effets contre-productifs reliés, en particulier, à la mise en compte de ces normes confirment la nécessité d’une théorie du jugement qualitatif. Notre hypothèse principale prend appui sur le cadre conceptuel offert par la notion de « principe de précaution » dont les premières formulations remontent du début des années 1970, et qui avaient précisément pour objectif de remédier aux défaillances des outils et méthodes d’évaluation scientifique traditionnelles. La thèse est divisée en cinq parties. Commençant par une revue historique des modèles classiques des théories de la conception (design thinking) elle se concentre sur l’évolution des modalités de prise en compte de la durabilité. Dans cette perspective, on constate que les théories de la « conception verte » (green design) datant du début des années 1960 ou encore, les théories de la « conception écologique » (ecological design) datant des années 1970 et 1980, ont finalement convergé avec les récentes théories de la «conception durable» (sustainable design) à partir du début des années 1990. Les différentes approches du « principe de précaution » sont ensuite examinées sous l’angle de la question de la durabilité du projet. Les standards d’évaluation des risques sont comparés aux approches utilisant le principe de précaution, révélant certaines limites lors de la conception d’un projet. Un premier modèle théorique de la conception intégrant les principales dimensions du principe de précaution est ainsi esquissé. Ce modèle propose une vision globale permettant de juger un projet intégrant des principes de développement durable et se présente comme une alternative aux approches traditionnelles d’évaluation des risques, à la fois déterministes et instrumentales. L’hypothèse du principe de précaution est dès lors proposée et examinée dans le contexte spécifique du projet architectural. Cette exploration débute par une présentation de la notion classique de «prudence» telle qu’elle fut historiquement utilisée pour guider le jugement architectural. Qu’en est-il par conséquent des défis présentés par le jugement des projets d’architecture dans la montée en puissance des méthodes d’évaluation standardisées (ex. Leadership Energy and Environmental Design; LEED) ? La thèse propose une réinterprétation de la théorie de la conception telle que proposée par Donald A. Schön comme une façon de prendre en compte les outils d’évaluation tels que LEED. Cet exercice révèle cependant un obstacle épistémologique qui devra être pris en compte dans une reformulation du modèle. En accord avec l’épistémologie constructiviste, un nouveau modèle théorique est alors confronté à l’étude et l’illustration de trois concours d'architecture canadienne contemporains ayant adopté la méthode d'évaluation de la durabilité normalisée par LEED. Une série préliminaire de «tensions» est identifiée dans le processus de la conception et du jugement des projets. Ces tensions sont ensuite catégorisées dans leurs homologues conceptuels, construits à l’intersection du principe de précaution et des théories de la conception. Ces tensions se divisent en quatre catégories : (1) conceptualisation - analogique/logique; (2) incertitude - épistémologique/méthodologique; (3) comparabilité - interprétation/analytique, et (4) proposition - universalité/ pertinence contextuelle. Ces tensions conceptuelles sont considérées comme autant de vecteurs entrant en corrélation avec le modèle théorique qu’elles contribuent à enrichir sans pour autant constituer des validations au sens positiviste du terme. Ces confrontations au réel permettent de mieux définir l’obstacle épistémologique identifié précédemment. Cette thèse met donc en évidence les impacts généralement sous-estimés, des normalisations environnementales sur le processus de conception et de jugement des projets. Elle prend pour exemple, de façon non restrictive, l’examen de concours d'architecture canadiens pour bâtiments publics. La conclusion souligne la nécessité d'une nouvelle forme de « prudence réflexive » ainsi qu’une utilisation plus critique des outils actuels d’évaluation de la durabilité. Elle appelle une instrumentalisation fondée sur l'intégration globale, plutôt que sur l'opposition des approches environnementales.

A Categorical Framework for the Specification and the Verification of Aspect Oriented Systems

Un objectif principal du génie logiciel est de pouvoir produire des logiciels complexes, de grande taille et fiables en un temps raisonnable. La technologie orientée objet (OO) a fourni de bons concepts et des techniques de modélisation et de programmation qui ont permis de développer des applications complexes tant dans le monde académique que dans le monde industriel. Cette expérience a cependant permis de découvrir les faiblesses du paradigme objet (par exemples, la dispersion de code et le problème de traçabilité). La programmation orientée aspect (OA) apporte une solution simple aux limitations de la programmation OO, telle que le problème des préoccupations transversales. Ces préoccupations transversales se traduisent par la dispersion du même code dans plusieurs modules du système ou l’emmêlement de plusieurs morceaux de code dans un même module. Cette nouvelle méthode de programmer permet d’implémenter chaque problématique indépendamment des autres, puis de les assembler selon des règles bien définies. La programmation OA promet donc une meilleure productivité, une meilleure réutilisation du code et une meilleure adaptation du code aux changements. Très vite, cette nouvelle façon de faire s’est vue s’étendre sur tout le processus de développement de logiciel en ayant pour but de préserver la modularité et la traçabilité, qui sont deux propriétés importantes des logiciels de bonne qualité. Cependant, la technologie OA présente de nombreux défis. Le raisonnement, la spécification, et la vérification des programmes OA présentent des difficultés d’autant plus que ces programmes évoluent dans le temps. Par conséquent, le raisonnement modulaire de ces programmes est requis sinon ils nécessiteraient d’être réexaminés au complet chaque fois qu’un composant est changé ou ajouté. Il est cependant bien connu dans la littérature que le raisonnement modulaire sur les programmes OA est difficile vu que les aspects appliqués changent souvent le comportement de leurs composantes de base [47]. Ces mêmes difficultés sont présentes au niveau des phases de spécification et de vérification du processus de développement des logiciels. Au meilleur de nos connaissances, la spécification modulaire et la vérification modulaire sont faiblement couvertes et constituent un champ de recherche très intéressant. De même, les interactions entre aspects est un sérieux problème dans la communauté des aspects. Pour faire face à ces problèmes, nous avons choisi d’utiliser la théorie des catégories et les techniques des spécifications algébriques. Pour apporter une solution aux problèmes ci-dessus cités, nous avons utilisé les travaux de Wiels [110] et d’autres contributions telles que celles décrites dans le livre [25]. Nous supposons que le système en développement est déjà décomposé en aspects et classes. La première contribution de notre thèse est l’extension des techniques des spécifications algébriques à la notion d’aspect. Deuxièmement, nous avons défini une logique, LA , qui est utilisée dans le corps des spécifications pour décrire le comportement de ces composantes. La troisième contribution consiste en la définition de l’opérateur de tissage qui correspond à la relation d’interconnexion entre les modules d’aspect et les modules de classe. La quatrième contribution concerne le développement d’un mécanisme de prévention qui permet de prévenir les interactions indésirables dans les systèmes orientés aspect.

Synthesis of constrained tricyclic nucleosides and the core of nagilactone B

Cette thèse décrit deux thèmes principaux: 1) la conception, la synthèse, et l'évaluation biophysique des nucléosides tricycliques, et 2) la synthèse de nagilactone B, un produit naturel norditerpenoïde dilactone de la famille de produits naturels “podolactone”. Le premier chapitre décrit la stratégie de design rationnel des nucléosides nommé “restriction conformationnelle double” basée sur les études de modélisation structurales des duplex ADN–ARN modifiés. Cette stratégie implique un blocage du cycle furanose dans une configuration de type N- ou S, et une restriction de la rotation torsionelle autour de l’angle γ. La première contrainte a été incorporée avec un pont méthylène entre l’oxygène en position 2′ et le carbone 4′ du nucléoside. Cette stratégie a été inspirée par les acides nucléiques bloqués (ou “locked nucleic acid”, LNA). La deuxième contrainte a été réalisée en ajoutant un carbocycle supplémentaire dans l'échafaud de l’acide nucléique bloqué. Les défis synthétiques de la formation des nucléotides modifiés à partir des carbohydrates sont décrits ainsi que les améliorations aux stabilités thermiques qu’ils apportent aux duplex oligonucléïques dont ils font partie. Chapitres deux et trois décrivent le développement de deux voies synthétiques complémentaires pour la formation du noyau de nagilactone B. Ce produit naturel a des implications pour le syndrome de Hutchinson–Gilford, à cause de son habilité de jouer le rôle de modulateur de l’épissage d’ARN pré-messager de lamine A. Ce produit naturel contient sept stereocentres différents, dont deux quaternaires et deux comprenant un syn-1,2-diol, ainsi que des lactones à cinq ou six membres, où le cycle à six ressemble à un groupement α-pyrone. La synthèse a débuté avec la cétone de Wieland-Miescher qui a permis d’adresser les défis structurels ainsi qu’explorer les fonctionnalisations des cycles A, B et D du noyau de nagilactone B.

Tailored Ion Imprinted Polymer Materials for the Preconcentrative Separation of Noble Metals

Tailored ion imprinted polymer materials for the preconcentrative separation of noble metals. This study deals with the synthesis, separation,characterization and analytical application of the noble metals especially palladium and platinum. Platinum group metals(PGM) are currently receiving world wide attention. This group include Palladium(Pt),rhodium(Rh), ruthenium(Ru), iridium(Ir) and osmium(Os).PGM are used as catalysts for a wide variety of hydrogenation, oxidation, isomerization,cyclization,dehydrogenation and dehalogenation reactions.The corrosion resistance of PGM enables them to use in jewellery,electrical and glass industries,extrusion of synthetic fibres,manufacture of laboratory utensils,dental and medical devices. This study clearly establishes selective recovery of platinum from other noble and transition elements.

Studies on the Rheology and the Mechanical Properties of Thermoplastic Elastomer from Latex Product Waste and High Density Polyethylene

Latex waste products contain rubber hydrocarbon of very high quality, which is only lightly cross linked. Selected wastes such as thread waste and glove waste were modified into processable materials by a novel economic process and thermoplastic elastomers were prepared by blending these modified waste materials with high density polyethylene in various proportions. The mechanical properties as well as the rheological behaviour of these blends were evaluated and compared with those of the natural rubber-high density polyethylene blends.

Alignment Model and Training Technique in SMT from English to Malayalam

This paper investigates certain methods of training adopted in the Statistical Machine Translator (SMT) from English to Malayalam. In English Malayalam SMT, the word to word translation is determined by training the parallel corpus. Our primary goal is to improve the alignment model by reducing the number of possible alignments of all sentence pairs present in the bilingual corpus. Incorporating morphological information into the parallel corpus with the help of the parts of speech tagger has brought around better training results with improved accuracy

Development and microwave characterization of selected biocompatible materials and conducting polymers

The 20th century witnessed the extensive use of microwaves in industrial, scientific and medical fields. The major hindrance to many developments in the ISM field is the lack of knowledge about the effect of microwaves on materials used in various applications. The study of the interaction of microwaves with materials demanded the knowledge of the dielectric properties of these materials. However, the dielectric properties of many of these materials are still unknown or less studied. This thesis is an effort to shed light into the dielectric properties of some materials which are used in medical, scientific and industrial fields. Microwave phantoms are those materials used in microwave simulation applications. Effort has been taken to develop and characterize low cost, eco-friendly phantoms from Biomaterials and Bioceramics. The interaction of microwaves with living tissues paved way to the development of materials for electromagnetic shielding. Materials with good conductivity/absorption properties could be used for EMI shielding applications. Conducting polymer materials are developed and characterized in this context. The materials which are developed and analyzed in this thesis are Biomaterials, Bioceramics and Conducting polymers. The use of materials of biological origin in scientific and medical applications provides an eco-friendly pathway. The microwave characterization of the materials were done using cavity material perturbation method. Low cost and ecofriendly biomaterial films were developed from Arrowroot and Chitosan. The developed films could be used in applications such as microwave phantom material, capsule material in pharmaceutical applications, trans-dermal patch material and eco-friendly Band-Aids. Bioceramics with better bioresorption and biocompatibility were synthesized. Bioceramics such as Hydroxyapatite, Beta tricalcium phosphate and Biphasic Calcium Phosphate were studied. The prepared bioceramics could be used as phantom material representing Collagen, Bone marrow, Human abdominal wall fat and Human chest fat. Conducting polymers- based on Polyaniline, are developed and characterized. The developed materials can be used in electromagnetic shielding applications such as in anechoic chambers, transmission cables etc

A STUDY OF THE TECHNIQUE OF THE HINDI DRAMA POST PRASAD PERIOD (1935 - 1965)

Hindi

Benefits of Implementing Lean Practices and the Impact of the Lean Aerospace Initiative in the Defense Aerospace Industry and Government Agencies

In the 1980’s, many United States industrial organizations started developing new production processes to improve quality, reduce cost, and better respond to customer needs and the pressures of global competition. This new paradigm was coined Lean Production (or simply “Lean”) in the book The Machine That Changed The World published in 1990 by researchers from MIT’s International Motor Vehicle Program. In 1993, a consortium of US defense aerospace firms and the USAF Aeronautical Systems Center, together with the AFRL Materials and Manufacturing Directorate, started the Lean Aircraft Initiative (LAI) at MIT. With expansion in 1998 to include government space products, the program was renamed the Lean Aerospace Initiative. LAI’s vision is to “Significantly reduce the cost and cycle time for military aerospace products throughout the entire value chain while continuing to improve product performance.” By late 1998, 23 industry and 13 government organizations with paying memberships, along with MIT and the UAW were participating in the LAI.

The effects of information and communication technologies on the banking sector and the payments system

This dissertation studies the effects of Information and Communication Technologies (ICT) on the banking sector and the payments system. It provides insight into how technology-induced changes occur, by exploring both the nature and scope of main technology innovations and evidencing their economic implications for banks and payment systems. Some parts in the dissertation are descriptive. They summarise the main technological developments in the field of finance and link them to economic policies. These parts are complemented with sections of the study that focus on assessing the extent of technology application to banking and payment activities. Finally, it includes also some work which borrows from the economic literature on banking. The need for an interdisciplinary approach arises from the complexity of the topic and the rapid path of change to which it is subject. The first chapter provides an overview of the influence of developments in ICT on the evolution of financial services and international capital flows. We include main indicators and discuss innovation in the financial sector, exchange rates and international capital flows. The chapter concludes with impact analysis and policy options regarding the international financial architecture, some monetary policy issues and the role of international institutions. The second chapter is a technology assessment study that focuses on the relationship between technology and money. The application of technology to payments systems is transforming the way we use money and, in some instances, is blurring the definition of what constitutes money. This chapter surveys the developments in electronic forms of payment and their relationship to the banking system. It also analyses the challenges posed by electronic money for regulators and policy makers, and in particular the opportunities created by two simultaneous processes: the Economic and Monetary Union and the increasing use of electronic payment instruments. The third chapter deals with the implications of developments in ICT on relationship banking. The financial intermediation literature explains relationship banking as a type of financial intermediation characterised by proprietary information and multiple interactions with customers. This form of banking is important for the financing of small and medium-sized enterprises. We discuss the effects of ICT on the banking sector as a whole and then apply these developments to the case of relationship banking. The fourth chapter is an empirical study of the effects of technology on the banking business, using a sample of data from the Spanish banking industry. The design of the study is based on some of the events described in the previous chapters, and also draws from the economic literature on banking. The study shows that developments in information management have differential effects on wholesale and retail banking activities. Finally, the last chapter is a technology assessment study on electronic payments systems in Spain and the European Union. It contains an analysis of existing payment systems and ongoing or planned initiatives in Spain. It forms part of a broader project comprising a series of country-specific analyses covering ten European countries. The main issues raised across the countries serve as the starting point to discuss implications of the development of electronic money for regulation and policies, and in particular, for monetary-policy making.