Another Look to the Price-Dividend Ratio: A Markov-Switching Approach

This paper analyzes the stationarity of this ratio in the context of a Markov-switching model à la Hamilton (1989) where an asymmetric speed of adjustment is introduced. This particular specification robustly supports a nonlinear reversion process and identifies two relevant episodes: the post-war period from the mid-50’s to the mid-70’s and the so called “90’s boom” period. A three-regime Markov-switching model displays the best regime identification and reveals that only the first part of the 90’s boom (1985-1995) and the post-war period are near-nonstationary states. Interestingly, the last part of the 90’s boom (1996-2000), characterized by a growing price-dividend ratio, is entirely attributed to a regime featuring a highly reverting process.

Performance of a Supersonic Model Combustor using Vaporized Kerosene Injection

Characteristics of supersonic combustion by injecting kerosene vapor into a Mach 2.5 crossflow at various preheat temperatures and pressures were investigated experimentally. A two-stage heating system has been designed and tested, which can prepare heated kerosene of 0.8 kg up to 820 K at pressure of 5.5 Mpa with minimum/negligible fuel coking. In order to simulate the thermophysical properties of kerosene over a wide range of thermodynamic conditions, a three-component surrogate that matches the compound class of the parent fuel was employed. The flow rate of kerosene vapor was calibrated using a sonic nozzle. Computed flow rates using the surrogate fuel are in agreement with the experimental data. Kerosene jets at various preheat temperatures injecting into both quiescent environment and Mach 2.5 crossflow were visualized. It was found that at injection pressure of 4 Mpa and preheat temperature of 550 K the kerosene jet was completely in vapor phase, while keeping almost the same penetration depth as compared to the liquid kerosene injection. Supersonic combustion tests were also carried out to compare the combustor performance for the cases of vaporized kerosene injection, liquid kerosene injection, and effervescent atomization with hydrogen barbotage, under the similar stagnation conditions. Experimental results demonstrated that the use of vaporized kerosene injection leads to better combustor performance. Further parametric study on vaporized kerosene injection in a supersonic model combustor is needed to assess the combustion efficiency as well as to identify the controlling mechanism for the overall combustion enhancement.

La construcción de la arquitectura residencial en Gipuzkoa durante la época del desarrollismo

[ES]El fuerte crecimiento económico que vivirá el estado español desde finales de la década de los cincuenta hasta los últimos años del régimen franquista se producirá en el conocido como periodo del Desarrollismo. Un periodo que dará fin al sistema autárquico impuesto tras el fin de la Guerra Civil y que provocará, entre otros efectos, un auténtico boom urbanístico en las zonas con mayor nivel de desarrollo, entre ellas, Gipuzkoa.Tras la introducción, el capítulo segundo de la Tesis se centra en el análisis del contexto económico, urbanístico, normativo, constructivo y tecnológico de esos años y en la evolución que experimentarán las tipologías residenciales y constructivas en seis de los municipios con mayor crecimiento demográfico de la provincia.Los distintos agentes intervinientes (Administración, promotores, constructores, arquitectos, aparejadores, fabricantes de materiales, gremios, etc) se adecuarán a un determinado estilo y forma de trabajar que sentará las bases de muchos de los hábitos, procedimientos e, incluso, técnicas constructivas que se utilizan hoy en día. El papel de cada uno de los actores participantes en el proceso edificatorio, el contenido documental del proyecto arquitectónico así como el conjunto de trámites administrativos que van a ser necesarios para poder llegar a construir un edificio residencial de vivienda colectiva se analizan en el capítulo tercero del documento. En los capítulos cuarto y quinto, se estudian los materiales y los elementos constructivos utilizados en la conformación de la cimentación, la estructura, la fachada, la cubierta y los sistemas de suministro y evacuación de aguas del edificio desarrollista. Asimismo, se realiza una primera valoración del estado en el que han llegado hasta nuestros días con resultados realmente preocupantes, incluso para la seguridad de las personas, en el caso de la fachada y de determinados elementos estructurales.Además del importante número de edificios analizados, los testimonios aportados por los diecisiete personajes (diez de ellos arquitectos) a los que se ha tenido la oportunidad de entrevistar y que tomaron parte en las distintas fases del proceso constructivo durante esos años han resultado determinantes en el trabajo de investigación y cuentan, por si mismos, con un valor excepcional como documento histórico.De las conclusiones finales se pueden anticipar las siguientes: gran parte de los elementos constructivos han llegado a una edad crítica y sus lesiones, relativamente leves y asumibles hasta hace bien poco, comienzan a agravarse de forma exponencial; el ciclo de vida de la fachada tradicional debe darse por culminado y desterrarse definitivamente, como solución, de la construcción actual y futura; debido a sus carencias y lesiones, el esfuerzo económico que habrá que asumir en los próximos años para la adecuación de los edificios construidos durante el periodo desarrollista a las nuevas exigencias en materia de sostenibilidad, eficiencia energética y accesibilidad va a ser muy alto; se antoja necesario realizar una tipificación y catalogación de los edificios residenciales de la época; y, para terminar, se confía en que la Tesis, planteada como una primera aproximación global y un estudio ¿marco¿ del proceder constructivo de una determinada época, contribuya a abrir nuevas vías para futuros trabajos y proyectos de investigación.

Catalytic Cracking and Heat Sink Capacity of Aviation Kerosene Under Supercritical Conditions

Catalytic cracking of China no. 3 aviation kerosene using a zeolite catalyst was investigated under supercritical conditions. A three-stage heating/cracking system was specially designed to be capable of heating 0.8 kg kerosene to a temperature of 1050 K and pressure of 7.0 MPa with maximum mass flow rate of 80 g/s. Sonic nozzles of different diameters were used to calibrate and monitor the mass flow rate of the cracked fuel mixture. With proper experiment arrangements, the mass flow rate per unit throat area of the cracked fuel mixture was found to well correlate with the extent of fuel conversion. The gaseous products obtained from fuel cracking under different conditions were also analyzed using gas chromatography. Composition analysis showed that the average molecular weight of the resulting gaseous products and the fuel mass conversion percentage were a strong function of the fuel temperature and were only slightly affected by the fuel pressure. The fuel conversion was also shown to depend on the fuel residence time in the reactor, as expected. Furthermore, the heat sink levels due to sensible heating and endothermic cracking were determined and compared at varying test conditions. It was found that at a fuel temperature of similar to 1050 K, the total heat sink reached similar to 3.4 MJ/kg, in which chemical heat sink accounted for similar to 1.5 MJ/kg.

Thermal cracking of aviation kerosene for scramjet applications

Thermal cracking of China No.3 aviation kerosene was studied experimentally and analytically under supercritical conditions relevant to regenerative cooling system for Mach-6 scramjet applications. A two-stage heated tube system with cracked products collection/analysis was used and it can achieve a fuel temperature range of 700-1100 K, a pressure range of 3.5-4.5 MPa and a residence time of approximately 0.5-1.3 s. Compositions of the cracked gaseous products and mass flow rate of the kerosene flow at varied temperatures and pressures were obtained experimentally. A one-step lumped model was developed with the cracked mixtures grouped into three categories: unreacted kerosene, gaseous products and residuals including liquid products and carbon deposits. Based on the model, fuel conversion on the mass basis, the reaction rate and the residence time were estimated as functions of temperature. Meanwhile, a sonic nozzle was used for the control of the mass flow rate of the cracked kerosene, and correlation of the mass flow rate gives a good agreement with the measurements.

Panama City Fisheries Resources Office: FY 2003 Annual Report

HIGHLIGHTS FOR FY 2003 1. Continued a 3-year threatened Gulf sturgeon population estimate in the Escambia River, Florida and conducted presence-absence surveys in 4 other Florida river systems and 1 bay. 2. Five juvenile Gulf sturgeon collected, near the mouth of the Choctawhatchee River, Florida, were equipped with sonic tags and monitored while over-wintering in Choctawhatchee Bay. 3. Continued to examine Gulf sturgeon marine habitat use. 4. Implemented Gulf Striped Bass Restoration Plan by coordinating the 20th Annual Morone Workshop, leading the technical committee, transporting broodfish, and coordinating the stocking on the Apalachicola-Chattahoochee-Flint (ACF) river system. 5. Over 73,000 Phase II Gulf striped bass were marked with sequential coded wire tags and stocked in the Apalachicola River. Post-stocking evaluations were conducted at 31 sites. 6. Three stream fisheries assessment s were completed to evaluate the fish community at sites slated for habitat restoration by the Partners for Fish and Wildlife Program (PFW). 7. PFW program identified restoration needs and opportunities for 10 areas. 8. Developed an Unpaved Road Evaluation Handbook. 9. Completed restoration of Chipola River Greenway, Seibenhener Streambank Restoration, Blackwater River State Forest, and Anderson Property. 10. Assessments for fluvial geomorphic conditions for design criteria were completed for 3 projects. 11. Geomorphology in Florida streams initiated development of Rosgen regional curves for Northwest Florida for use by the Florida Department of Transportation. 12. Developed a Memorandum of Understanding between partners for enhancing, protecting, and restoring stream, wetland, and upland habitat in northwest Florida 13. Completed aquatic fauna and fish surveys with new emphasis on integration of data from reach level into watershed and landscape scale and keeping database current. 14. Compliance based sampling of impaired waterbodies on Eglin Air Force Base in conjunction with Florida Department of Environmental Protection for Total Maximum Daily Load development support. 15. Surveyed 20 sites for the federally endangered Okaloosa darter, provided habitat descriptions, worked with partners to implement key recovery tasks and set priorities for restoration. 16. Worked with partners to develop a freshwater mussel survey protocol to provide standard operating procedures for establishing the presence/absence of federally listed mussel species within a Federal project area. 17. GIS database was created to identify all known freshwater mussel records from the northeast Gulf ecosystem. 18. Completed recovery plan for seven freshwater mussels and drafted candidate elevation package for seven additional mussels. Developed proposals to implement recovery plan. 19. Worked with Corps of Engineers and State partners to develop improved reservoir operating policies to benefit both riverine and reservoir fisheries for the ACF river system. 20. Multiple outreach projects were completed to detail aquatic resources conservation opportunities. 21. Multiple stream restoration and watershed management projects initiated or completed (see Appendix A).

A Wide Band Strong Acoustic Absorption in a Locally Network Anechoic Coating

Composite materials with interpenetrating network structures usually exhibit unexpected merit due to the cooperative interaction. Locally resonant phononic crystals (LRPC) exhibit excellent sound attenuation performance based on a periodical arrangement of sound wave scatters. Inspired by the interpenetrating network structure and the LRPC concept, we develop a locally network anechoic coating (LNAC) that can achieve a wide band of underwater strong acoustic absorption. The experimental results show that the LNAC possesses an excellent underwater acoustic absorbing capacity in a wide frequency range. Moreover, in order to investigate the impact of the interpenetrating network structure, we fabricate a faultage structure sample and the network is disconnected by hard polyurethane (PU). The experimental comparison between the LNAC and the faultage structure sample shows that the interpenetrating network structure of the LNAC plays an important role in achieving a wide band strong acoustic absorption.

Locally resonant phononic woodpile: A wide band anomalous underwater acoustic absorbing material

To meet the demand of modern acoustic absorbing material for which acoustic absorbing frequency region can be readily tailored, we introduced woodpile structure into locally resonant phononic crystal (LRPC) and fabricated an underwater acoustic absorbing material, which is called locally resonant phononic woodpile (LRPW). Experimental results show that LRPW has a strong capability of absorbing sound in a wide frequency range. Further theoretical research revealed that LRPC units and woodpile structure in LRPW play an important role in realization of wide band underwater strong acoustic absorption.

Parasites and non-fish predators of tilapia with particular reference to the sustainable management of fisheries of Lake Kainji Nigeria

The fisheries of Lake Kainji, Nigeria, experienced a boom year following impoundment, then decline post impoundment and now is in a period of stabilisation of the fish resources. Several reasons have been advanced on factors responsible for these changes, but two outstanding factors are those of nutritional status and fishing methods of the lake. Two important fish families however continue to dominate the lake fisheries in daily fisherman catches: Clupeidae and Cichlidae (tilapias). Recent studies have also shown that the dominance of the tilapias and clupeids is an important factor in the understanding of the stability of fisheries of Lake Kainji. One area which has remained undiscussed concerns the parasites and non-fish predators of tilapias which can affect the population dynamics of tilapias. This paper examines therefore some aspects of the fisheries of Lake Kainji and the potential roles that parasites and non-fish predators of tilapias can contribute in developing strategies for consideration in the sustainable management of the fisheries

Lake Kainji water hyacinth infestation and the control strategies

The paper documents the aquatic vascular plants situation of Lake Kainji, particularly with the invasion of water hyacinth (Eichhormia crassipes) hitherto alien to the lake system. The frequency of occurrence of some aquatic plants on Lake Kainji have increased whilst a few decreased over the period between 1984 and 1995. More than 53.6% of the lake surface has now been covered by aquatic vascular plants of which water hyacinth alone covered 30.6% (16.4% of the system). Apart from the characteristic rapid multiplication and biomass build-up of the plant, more than 9.1 clumps with a diameter range between 0.8-4cm enter the lake per minute. Thus more than 16.4ha per day or annually 6000ha of water hyacinth are added as drifts. Because of the peculiar hydrological cycle of the lake and the plant aggressiveness and invasiveness, NIFFR (with the support of the GTZ) had developed an approach of control which combines manual, biological, natural, boom construction and chemical measures. These are discussed

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Revista con LCC: Reconocimiento – NoComercial – SinObraDerivada (by-nc-nd)

Euskalaritzaren historiaren ikerketa-norabideak: zenbait proposamendu

[EN] The aim of this paper is to propose some lines of investigation and new methods that can be followed in order to increase our knowledge of the History of Basque Linguistics. The main claim put forward here is that we must profit from the new methodological innovations developed by the H istoriography of Linguistics since the 60's. In the first section, different aspects are mentioned of the relevance of the study of Basque Linguistic Historiography. The second section comments on the boom of the Historiography of Linguistics from the 60's, its causes and its consequences; furthermore, it reports on the methodological models emerged from the discussions since then (as shown in works by Koerner, Swiggers, and many others). The third section points out some difficulties and challenges of the study of the History of Basque Linguistics, and suggests both some priorities for that study and possible lines of investigation. In order to illustrate the different points made throughout the paper, the reader is referred, when possible, to examples chosen from recent investigations or from future topics of research.

An Alternative View of the US Price-Dividend Ratio Dynamics

As a necessary condition for the validity of the present value model, the price-dividend ratio must be stationary. However, significant market episodes seem to provide evidence of prices significantly drifting apart from dividends while other episodes show prices anchoring back to dividends. This paper investigates the stationarity of this ratio in the context of a Markov- switching model à la Hamilton (1989) where an asymmetric speed of adjustment towards a unique attractor is introduced. A three-regime model displays the best regime identification and reveals that the first part of the 90’s boom (1985-1995) and the post-war period are characterized by a stationary state featuring a slow reverting process to a relatively high attractor. Interestingly, the latter part of the 90’s boom (1996-2000), characterized by a growing price-dividend ratio, is entirely attributed to a stationary regime featuring a highly reverting process to the attractor. Finally, the post-Lehman Brothers episode of the subprime crisis can be classified into a temporary nonstationary regime.

A modernidade e a difusão da psicanálise no Rio de Janeiro na década de 70

Este trabalho se detém na análise da relação entre as mudanças da construção da subjetividade durante a modernização brasileira e o boom psicanalítico na década de 70. Observando-se a crise da tradição psiquiátrica no Rio de Janeiro como decisiva para a instauração da psicanálise, a psicologização, bem como a dificuldade de os psicólogos se inserirem no mercado, aventa-se a hipótese de estes profissionais terem ganho espaço profissional pela necessidade de a classe média procurar serviços especializados, que eram restritos a psiquiatras. Discute se a aceitação da Psicanálise pela intelectualidade de esquerda após o Golpe de 64.

An investigation of detached shock waves

This investigation demonstrates an application of a flexible wall nozzle for testing in a supersonic wind tunnel. It is conservative to say that the versatility of this nozzle is such that it warrants the expenditure of time to carefully engineer a nozzle and incorporate it in the wind tunnel as a permanent part of the system. The gradients in the test section were kept within one percent of the calibrated Mach number, however, the gradients occurring over the bodies tested were only ± 0.2 percent in Mach number.

The conditions existing on a finite cone with a vertex angle of 75° were investigated by considering the pressure distribution on the cone and the shape of the shock wave. The pressure distribution on the surface of the 75° cone when based on upstream conditions does not show any discontinuities at the theoretical attachment Mach number.

Both the angle of the shock wave and the pressure distribution of the 75° cone are in very close agreement with the theoretical values given in the Kopal report, (Ref. 3).

The location of the intersection of the sonic line with the surface of the cone and with the shock wave are given for the cone. The blocking characteristics of the GALCIT supersonic wind tunnel were investigated with a series of 60° cones.