Fiscal foresight, forecast revisions and the effects of government spending in the open economy

This paper investigates the effects of government spending on the real exchange rate and the trade balance in the US using a new VAR identification procedure based on spending forecast revisions. I find that the real exchange rate appreciates and the trade balance deteriorates after a government spending shock, although the effects are quantitatively small. The findings broadly match the theoretical predictions of the standard Mundell-Fleming model and differ substantially from those existing in literature. Differences are attributable to the fact that, because of fiscal foresight, the government spending is non-fundamental for the variables typically used in open economy VARs. Here, on the contrary, the estimated shock is fundamental.

CO2 emissions embodied in international trade: A multiregional Inputoutput model for Spain

As a result of globalization and free trade agreements, international trade is enormously growing and inevitably putting more pressure on the environment over the last few decades. This has drawn the attention of both environmentalist and economist in response to the ever growing concerns of climate change and urgent need of international action for its mitigation. In this work we aim at analyzing the implication of international trade in terms of CO2 between Spain and its important partners using a multi-regional input-output (MRIO) model. A fully integrated 13 regions MRIO model is constructed to examine the pollution responsibility of Spain both from production and consumption perspectives. The empirical results show that Spain is a net importer of CO2 emissions which is equivalent to 29% of its emission due to production. Even though the leading partner with regard to import values are countries such as Germany, France, Italy and Great Britain, the CO2 embodied due to trade with China takes the largest share. This is mainly due to the importation of energy intensive products from China coupled with Chinese poor energy mix which is dominated by coal-power plant. The largest portion (67%) of the global imported CO2 emissions is due to intermediate demand requirements by production sectors. Products such as Motor vehicles, chemicals, a variety of machineries and equipments, textile and leather products, construction materials are the key imports that drive the emissions due to their production in the respective exporting countries. Being at its peak in 2005, the Construction sector is the most responsible activity behind both domestic and imported emissions.

Feeding and the Equilibrium Feeder Animal Price-Weight Schedule, June 2005

The feeder animal price is a derivative in the sense that its value depends upon the price of animals for the consumption market. It also depends upon the biological growth technology and feed costs. Daily maintenance costs are of particular interest to the husbander because they can be avoided through accelerated feeding. In this paper, the optimal feeding path under equilibrium feeder animal prices is established. This analysis is used to gain a better understanding of feeding decisions, regulation in feedstuff markets, and the consequences of genetic innovations. It is shown that days on feed can increase or decrease with a genetic innovation or other improvement in feed conversion efficiency. The structure of comparative prices for feeder animals at different weights, the early slaughter decision, and equilibrium in feeder animal markets are also developed. Feeder animal prices can increase over a weight interval if biological feed efficiency parameters are low over the interval.

Globalization and risk sharing

We study the effects of globalization on risk sharing and welfare. Like previous literature, weassume that countries cannot commit to repay their debts. Unlike previous literature, we assumethat countries cannot discriminate between domestic and foreign creditors when repaying theirdebts. This creates novel interactions between domestic and international trade in assets. (i)Increases in domestic trade raise the bene.ts of enforcement and facilitate international trade.In fact, in our setup countries can obtain international risk sharing even in the absence of defaultpenalties. (ii) Increases in foreign trade .i.e. globalization.raise the costs of enforcement andhamper domestic trade. As a result, globalization may worsen domestic risk sharing and lowerwelfare. We show how these e¤ects depend on various characteristics of tradable goods andexplore the roles of borrowing limits, debt renegotiations, and trade policy.

Increasing returns, imperfect competition and factor prices

We show how, in general equilibrium models featuring increasing returns, imperfectcompetition and endogenous markups, changes in the scale of economic activity affectincome distribution across factors. Whenever final goods are gross-substitutes (gross-complements), a scale expansion raises (lowers) the relative reward of the scarce factoror the factor used intensively in the sector characterized by a higher degree of product differentiation and higher fixed costs. Under very reasonable hypothesis, our theory suggests that scale is skill-biased. This result provides a microfoundation for the secular increase in the relative demand for skilled labor. Moreover, it constitutes an important link among major explanations for the rise in wage inequality: skill-biased technical change, capital-skill complementarities and international trade. We provide new evidence on the mechanism underlying the skill bias of scale.

Pattern recognition ecological niche models fit to presence-only and presence-absence data

1. Identifying the boundary of a species' niche from observational and environmental data is a common problem in ecology and conservation biology and a variety of techniques have been developed or applied to model niches and predict distributions. Here, we examine the performance of some pattern-recognition methods as ecological niche models (ENMs). Particularly, one-class pattern recognition is a flexible and seldom used methodology for modelling ecological niches and distributions from presence-only data. The development of one-class methods that perform comparably to two-class methods (for presence/absence data) would remove modelling decisions about sampling pseudo-absences or background data points when absence points are unavailable. 2. We studied nine methods for one-class classification and seven methods for two-class classification (five common to both), all primarily used in pattern recognition and therefore not common in species distribution and ecological niche modelling, across a set of 106 mountain plant species for which presence-absence data was available. We assessed accuracy using standard metrics and compared trade-offs in omission and commission errors between classification groups as well as effects of prevalence and spatial autocorrelation on accuracy. 3. One-class models fit to presence-only data were comparable to two-class models fit to presence-absence data when performance was evaluated with a measure weighting omission and commission errors equally. One-class models were superior for reducing omission errors (i.e. yielding higher sensitivity), and two-classes models were superior for reducing commission errors (i.e. yielding higher specificity). For these methods, spatial autocorrelation was only influential when prevalence was low. 4. These results differ from previous efforts to evaluate alternative modelling approaches to build ENM and are particularly noteworthy because data are from exhaustively sampled populations minimizing false absence records. Accurate, transferable models of species' ecological niches and distributions are needed to advance ecological research and are crucial for effective environmental planning and conservation; the pattern-recognition approaches studied here show good potential for future modelling studies. This study also provides an introduction to promising methods for ecological modelling inherited from the pattern-recognition discipline.

Optimal growth strategies when mortality and production rates are size-dependent

Pontryagin's maximum principle from optimal control theory is used to find the optimal allocation of energy between growth and reproduction when lifespan may be finite and the trade-off between growth and reproduction is linear. Analyses of the optimal allocation problem to date have generally yielded bang-bang solutions, i.e. determinate growth: life-histories in which growth is followed by reproduction, with no intermediate phase of simultaneous reproduction and growth. Here we show that an intermediate strategy (indeterminate growth) can be selected for if the rates of production and mortality either both increase or both decrease with increasing body size, this arises as a singular solution to the problem. Our conclusion is that indeterminate growth is optimal in more cases than was previously realized. The relevance of our results to natural situations is discussed.

Topology of the world trade web

Economy, and consequently trade, is a fundamental part of human social organization which, until now, has not been studied within the network modeling framework. Here we present the first, to the best of our knowledge, empirical characterization of the world trade web, that is, the network built upon the trade relationships between different countries in the world. This network displays the typical properties of complex networks, namely, scale-free degree distribution, the small-world property, a high clustering coefficient, and, in addition, degree-degree correlation between different vertices. All these properties make the world trade web a complex network, which is far from being well described through a classical random network description.

Geochemistry of the thermal springs and fumaroles of Basse-Terre Island, Guadeloupe, Lesser Antilles

The purpose of this work was to study jointly the volcanic-hydrothermal system of the high-risk volcano La Soufriere, in the southern part of Basse-Terre, and the geothermal area of Bouillante, on its western coast, to derive an all-embracing and coherent conceptual geochemical model that provides the necessary basis for adequate volcanic surveillance and further geothermal exploration. The active andesitic dome of La Soufriere has erupted eight times since 1660, most recently in 1976-1977. All these historic eruptions have been phreatic. High-salinity, Na-CI geothermal liquids circulate in the Bouillante geothermal reservoir, at temperatures close to 250 degrees C. These Na-CI solutions rise toward the surface, undergo boiling and mixing with groundwater and/or seawater, and feed most Na-CI thermal springs in the central Bouillante area. The Na-Cl thermal springs are surrounded by Na-HCO3 thermal springs and by the Na-Cl thermal spring of Anse a la Barque (a groundwater slightly mixed with seawater), which are all heated through conductive transfer. The two main fumarolic fields of La Soufriere area discharge vapors formed through boiling of hydrothermal aqueous solutions at temperatures of 190-215 degrees C below the ``Ty'' fault area and close to 260 degrees C below the dome summit. The boiling liquid producing the vapors of the Ty fault area has SD and delta(18)O values relatively similar to those of the Na-CI liquids of the Bouillante geothermal reservoir, whereas the liquid originating the vapors of the summit fumaroles is strongly enriched in O-18, due to input of magmatic fluids from below. This process is also responsible for the paucity of CH;I in the fumaroles. The thermal features around La Soufriere dome include: (a) Ca-SO4 springs, produced through absorption of hydrothermal vapors in shallow groundwaters; (b) conductively heated, Ca-Na-HCO3 springs; and (c) two Ca-Na-Cl springs produced through mixing of shallow Ca-SO4 waters and deep Na-Cl hydrothermal liquids. The geographical distribution of the different thermal features of La Soufriere area indicates the presence of: (a) a central zone dominated by the ascent of steam, which either discharges at the surface in the fumarolic fields or is absorbed in shallow groundwaters; and (b) an outer zone, where the shallow groundwaters are heated through conduction or addition of Na-Cl liquids coming from hydrothermal aquifer(s).

A Comparative Study: Service Animals and Emotional Support Animals under the Fair Housing Act and the Americans with Disabilities Act & An Overview of Assistance Animal Laws of Select States, April 18, 2010

The Americans with Disabilities Act (ADA) and the Fair Housing Act (FHA) prohibit discrimination on the basis of disability and govern the use of service or emotional support animals in places where pets may not be permitted. However, courts have been struggling with how to define and treat animals that qualify for protection under each law. This has created confusion as to what rights and duties are owed disabled persons and the animals that live with or accompany them. This essay attempts to clarify these two federal laws with regard to service or emotional support animals and the differing parties‘ rights and interests. It also includes an overview of select state laws that govern assistance animals of all types and our recommendations for enhancing the Iowa Civil Rights Act.

Neuronal inputs and outputs of aging and longevity.

An animal's survival strongly depends on its ability to maintain homeostasis in response to the changing quality of its external and internal environment. This is achieved through intracellular and intercellular communication within and among different tissues. One of the organ systems that plays a major role in this communication and the maintenance of homeostasis is the nervous system. Here we highlight different aspects of the neuronal inputs and outputs of pathways that affect aging and longevity. Accordingly, we discuss how sensory inputs influence homeostasis and lifespan through the modulation of different types of neuronal signals, which reflects the complexity of the environmental cues that affect physiology. We also describe feedback, compensatory, and feed-forward mechanisms in these longevity-modulating pathways that are necessary for homeostasis. Finally, we consider the temporal requirements for these neuronal processes and the potential role of natural genetic variation in shaping the neurobiology of aging.

Stocking densities and feeding strategies in shrimp and tilapia polyculture in tanks

The objective of this work was to evaluate the performance of Pacific marine shrimp (Litopenaeus vannamei) and tilapia (Oreochromis niloticus), in a polyculture in tanks subjected to different stocking densities and feeding strategies, in comparison with monoculture. Two experiments were performed, at the same time, in a completely randomized design with three treatments and four replicates each. Treatments for experiment I were: monoculture with 10 shrimp per m² (10S:0T); polyculture with 10 shrimp and 0.5 tilapia per m² (10S:0.5T); and polyculture with 10 shrimp and 1 tilapia per m² (10S:1T). Shrimp was the main crop, and feed was provided based on shrimp biomass. Treatments for experiment II were: monoculture with 2 tilapia per m² (2T:0S); polyculture with 2 tilapia and 2.5 shrimp per m² (2T:2.5S); and polyculture with 2 tilapia and 5 shrimp per m² (2T:5S). Tilapia was the main crop, and feed was provided based on fish requirements. In the experiment I, tilapia introduction to shrimp culture resulted in lower shrimp growth and poor feed conversion rate. In experiment II, shrimp introduction to tilapia culture did not interfere with fish performance. Polyculture is more efficient with the combination of 2 tilapia and 2.5 or 5 shrimp per m² and feed based on fish requirements.

Purification and fractionation by nanotiltration in dairy and sugar and sweetener industry applications

Nanotiltration is a membrane separation method known for its special characteristic of rejecting multivalent ions and passing monovalent ions. Thus, it is commonly applied with dilute aqueous solutions in partial salt removal, like in drinking water production. The possibilities of nanofiltration have been studied and the technique applied in a wide branch of industries, e.g. the pulp and paper, the textile and the chemical processing industry. However, most present applications and most of the potential applications studied involve dilute solutions, the permeating stream being generally water containing monovalent salts. In this study nanotiltration is investigated more as a fractionation method. A well-known application in the dairy industry is concentration and partial salt removal from whey. Concentration and partial demineralization is beneficial for futher processing of whey as whey concentrates are used e.g. in baby foods. In the experiments of this study nanotiltration effectively reduced the monovalent salts in the whey concentrate. The main concern in this application is lactose leakage into the permeate. With the nanofiltration membranes used the lactose retentions were practically ? 99%. Another dairy application studied was the purification and reuse of cleaning solutions. This is an environmentally driven application. An 80% COD reduction by nanofiltration was observed for alkaline cleaning-in-place solution. Nanofiltration is not as commonly applied in the sugar and sweeteners industry as in the dairy industry. In this study one potential application was investigated, namely xylose purification from hemicellulose hydrolyzate. Xylose is raw material for xylitol production. Xylose separation from glucose was initially studied with xylose-glucose model solutions. The ability of nanofiltration to partially separate xylose into the permeate from rather concentrated xylose-glucose solutions (10 w-% and 30 w-%) became evident. The difference in size between xylose and glucose molecules according to any size measure is small, e.g. the Stokes diameter of glucose is 0.73 nm compared to 0.65 nm for xylose. In further experiments, xylose was purified into nanoliltration permeate from a hemicellulose hydrolyzate solution. The xylose content in the total solids was increased by 1.4—1.7 fold depending on temperature, pressure and feed composition.

Investigation of business models of free zones and possible implications in South East Finland

Tutkielma tarkastelee vapaa alue konseptia osana yritysten kansainvälistä toimitusketjua. Tarkoituksena on löytää keinoja, millä tavoin vapaa alueen houkuttelevuutta voidaan lisätä yritysten näkökulmasta ja millaista liiketoimintaa yritysten on vapaa alueella mahdollista harjoittaa. Tutkielmassa etsitään tekijöitä, jotka vaikuttavat vapaa alueen menestykseen ja jotka voisivat olla sovellettavissa Kaakkois-Suomen ja Venäjän raja-alueelle ottaen huomioon vallitsevat olosuhteet ja lainsäädäntö rajoittavina tekijöinä. Menestystekijöitä ja liiketoimintamalleja haetaan tutkimalla ja analysoimalla lyhyesti muutamia olemassa olevia ja toimivia vapaa alueita. EU tullilain harmonisointi ja kansainvälisen kaupan vapautuminen vähentää vapaa alueen perinteistä merkitystä tullivapaana alueena. Sen sijaan vapaa alueet toimivat yhä enenevissä määrin logistisina keskuksina kansainvälisessä kaupassa ja tarjoavat palveluita, joiden avulla yritykset voivat parantaa logistista kilpailukykyään. Verkostoituminen, satelliitti-ratkaisut ja yhteistoiminta ovat keinoja, millä Kaakkois-Suomen alueen eri logistiikkapalvelujen tarjoajat voivat parantaa suorituskykyään ja joustavuutta kansainvälisessä toimitusketjussa.

New Climate Change Related EC Directives and Their Interrelations to Green Electricity and Certificate Practices

Työn päätavoite on tutkia vihreän sähkön ja sertifikaattien kaupan ja EY:n uusien ilmastonmuutosta koskevien direktiivien ja direktiiviehdotusten välisiä yhteyksiä. Tutkimuksessa käsitellään direktiiviä sähköntuotannosta uusiutuvilla energialähteillä ja direktiiviehdotuksia Euroopan Unionin alueen päästökaupasta sekä yhdistetyn sähkön ja lämmön tuotannon lisäämisestä. Työ keskittyy erään suomalaisen metsäteollisuusyrityksen toimiin ilmastonmuutoksen hidastamiseksi. Tutkimus keskittyy pääosin EU:n suunnitelmaan aloittaa Unionin jäsenvaltioiden välinen päästökauppa, koska tämä järjestelmä tulee toteutuessaan olemaan teollisuuden kannalta merkittävä. Tilannetta on analysoitu neljän sellu- ja paperitehtaan hiilidioksidipäästölaskelmien avulla. Työssä kehitettyjä laskumalleja voidaan käyttää avuksi yhtiön muilla tehtailla. Tämän lisäksi työssä on luotu malli energiainvestointien arvioimiseksi tulevaisuudessa ottamalla päästöoikeuden hinnan vaikutus huomioon. Päästökaupan vaikutukset pohjoismaisilla vapautuneilla sähkömarkkinoilla on analysoity, koska teollinen sähkönhankinta on suuresti riippuvainen tästä markkinasta. Suomen metsäteollisuuden oma yhdistetty sähkön ja lämmön tuotanto erityisesti uusiutuvista energialähteistä tulee olemaan entistäkin tärkeämpää tiukentuvassa toimintaympäristössä. Tällä hetkellä on käynnissä kokeilu lisäarvon saamiseksi omalle sähköntuotannolle. Tällä haetaan kokemuksia ja valmiutta tulevaa päästökauppaa varten.