Public investment and the risk premium for equity

Analysis of the equity premium puzzle has focused on private-sector capital markets. However, the existence of an anomalous equity premium raises important issues in the evaluation of public-sector investment projects. These issues are explored below. We begin by formalizing the argument that an equity premium may arise from uninsurable systematic risk in labour income, and show that, other things being equal, increases in public ownership of equity will improve welfare, up to the point where the equity premium is eliminated. Finally, we consider policy implications and the optimal extent of public ownership.

A reduced load approximation accounting for link interactions in a loss network

This paper is concerned with evaluating the performance of loss networks. Accurate determination of loss network performance can assist in the design and dimen- sioning of telecommunications networks. However, exact determination can be difficult and generally cannot be done in reasonable time. For these reasons there is much interest in developing fast and accurate approximations. We develop a reduced load approximation that improves on the famous Erlang fixed point approximation (EFPA) in a variety of circumstances. We illustrate our results with reference to a range of networks for which the EFPA may be expected to perform badly.

Selective entrainment of sediment graded by size and density under waves

The influence of near-bed sorting processes on heavy mineral content in suspension is discussed. Sediment concentrations above a rippled bed of mixed quartz and heavy mineral sand were measured under regular nonbreaking waves in the laboratory. Using the traditional gradient diffusion process, settling velocity would be expected to strongly affect sediment distribution. This was not observed during present trials. In fact, the vertical gradients of time-averaged suspension concentrations were found to be similar for the light and heavy minerals, despite their different settling velocities. This behavior implies a convective rather than diffusive distribution mechanism. Between the nonmoving bed and the lowest suspension sampling point, fight and heavy mineral concentration differs by two orders of magnitude. This discrimination against the heavy minerals in the pickup process is due largely to selective entrainment at the ripple face. Bed-form dynamics and the nature of quartz suspension profiles are found to be little affected by the trialed proportion of overall heavy minerals in the bed (3.8-22.1%).

The effectiveness of personalized smoking cessation strategies for callers to a Quitline service

Aim To assess the effectiveness of a program of computer-generated tailored advice for callers to a telephone helpline, and to assess whether it enhanced a series of callback telephone counselling sessions in aiding smoking cessation. Design Randomized controlled trial comparing: (1) untailored self-help materials; (2) computer-generated tailored advice only, and (3) computer-generated tailored advice plus callback telephone counselling. Assessment surveys were conducted at baseline, 3, 6 and 12 months. Setting Victoria, Australia. Participants A total of 1578 smokers who called the Quitline service and agreed to participate. Measurements Smoking status at follow-up; duration of cessation, if quit; use of nicotine replacement therapy; and extent of participation in the callback service. Findings At the 3-month follow-up, significantly more (chi(2)(2) = 16.9; P < 0.001) participants in the computer-generated tailored advice plus telephone counselling condition were not smoking (21%) than in either the computer-generated advice only (12%) or the control condition (12%). Proportions reporting not smoking at the 12-month follow-up were 26%, 23% and 22%, respectively (NS) for point prevalence, and for 9 months sustained abstinence; 8.2, 6.0, and 5.0 (NS). In the telephone counselling group, those receiving callbacks were more likely than those who did not to have sustained abstinence at 12 months (10.2 compared with 4.0, P < 0.05). Logistic regression on 3-month data showed significant independent effects on cessation of telephone counselling and use of NRT, but not of computer-generated tailored advice. Conclusion Computer-generated tailored advice did not enhance telephone counselling, nor have any independent effect on cessation. This may be due to poor timing of the computer-generated tailored advice and poor integration of the two modes of advice.

Chiral resolution of hexaamine cobalt(III) cages: Substituent effects on chiral discrimination

Chiral resolution of the cobalt cage complexes [Co(diNOsar)](3+) and [Co(diAMsarH(2))](5+) have been achieved by selective crystallization with the anion bis-mu-(R),(R)-tartratodiantimonate(III) ([Sb-2(R,R-tart)(2)](2-)) and also by column chromatography with Na-2[Sb-2(R, R-tart)(2)] as eluent. The X-ray crystal structures of Lambda-[ Co(diNOsar)][Sb-2(R, R-tart)(2)] Cl . 7H(2)O and Delta-[Co(diAMsarH(2))][Sb-2(R, R-tart)(2)](2)Cl . 14H(2)O are reported, which reveal an unexpected reversal of chiral discrimination when the cage substituent is changed from nitro (Lambda-enantiomer) to ammonio (Delta-enantiomer) and shows that the ammonio- substituted cage is capable of forming a three-point hydrogen-bonding interaction with each complex anion, whereas the nitro analogue can only form two hydrogen bonds with each [Sb-2(R, R-tart)(2)](2-) anion. During cation exchange chromatography of the racemic cobalt cage complexes with Na-2[Sb-2(R, R-tart)(2)] as eluent, Lambda-[Co(diNOsar)](3+) elutes first, which implies a tighter ion pairing interaction than for the Delta-enantiomer. On the other hand, Delta-[Co(diAMsarH(2))](5+) elutes first during chromatography under identical conditions, which is also consistent with a preferred outer-sphere complex formed between Delta-[Co(diAMsarH(2))](5+) and [Sb-2(R, R-tart)(2)](2-) relative to Lambda-[Co(diAMsarH(2))](5+) and [Sb-2(R,R-tart)(2)](2-).

A global health problem caused by arsenic from natural sources

Arsenic is a carcinogen to both humans and animals. Arsenicals have been associated with cancers of the skin, lung, and bladder. Clinical manifestations of chronic arsenic poisoning include non-cancer end point of hyper- and hypo-pigmentation, keratosis, hypertension, cardiovascular diseases and diabetes. Epidemiological evidence indicates that arsenic concentration exceeding 50 mug l(-1) in the drinking water is not public health protective. The current WHO recommended guideline value for arsenic in drinking water is 10 mug l(-1), whereas many developing countries are still having a value of 50 mug 1(-1). It has been estimated that tens of millions of people are. at risk exposing to excessive levels of arsenic from both contaminated water and arsenic-bearing coal from natural sources. The global health implication and possible intervention strategies were also discussed in this review article. (C) 2003 Elsevier Ltd. All rights reserved.

Dissolution of sucrose crystals in the anhydrous sorbitol melt

The dissolution of a sugar (sucrose as a model) with higher melting point was studied in a molten food polyol (sorbitol as a model) with lower melting point, both in anhydrous state. A DSC and optical examination revealed the dissolution of anhydrous sucrose crystals (mp 192 degreesC) in anhydrous sorbitol (mp 99 degreesC) liquid melt. The sucrose-sorbitol crystal mixtures at the proportions of 10, 30, 60, 100 and 150 g of sucrose per 100 g of sorbitol were heat scanned in a DSC to above melting endotherm of sorbitol but well below the onset temperature of melting of sucrose at three different temperatures 110, 130 and 150 degreesC. The heat scanning modes used were with or without isothermal holding. The dissolution of sucrose in the sorbitol liquid melt was manifested by an increase in the glass transition temperature of the melt and corresponding decrease in endothermic melting enthalpy of sucrose. At given experimental conditions, as high as 25 and 85% of sucrose dissolved in the sorbitol melt during 1 h of isothermal holding at 110 and 150 degreesC, respectively. Optical microscopic observation also clearly showed the reduction in the size of sucrose crystals in sorbitol melt during the isothermal holding at those temperatures. (C) 2003 Elsevier Science Ltd. All rights reserved.

An Australian PR state?

In their 1994 study Taxation and Representation, Deacon and Golding point to the extensive use of press and public relations professionals by governments to promote policy, and to outmanouvre their opponents. With the UK specifically in mind, they warn: 'we cannot ignore the massive expansion of the public relations state.' (p.6). What distinguishes their approach from the more usual preoccupation with the use of 'spin' to 'package' political leaders is a focus on the institutionalisation of public relations within government. In this paper, I explore the utililty of the concept, and consider what the broad features of an Australian 'PR State' might be.

A Generic Library for GUI Reasoning and Testing

Graphical user interfaces (GUIs) make software easy to use by providing the user with visual controls. Therefore, correctness of GUI's code is essential to the correct execution of the overall software. Models can help in the evaluation of interactive applications by allowing designers to concentrate on its more important aspects. This paper presents a generic model for language-independent reverse engineering of graphical user interface based applications, and we explore the integration of model-based testing techniques in our approach, thus allowing us to perform fault detection. A prototype tool has been constructed, which is already capable of deriving and testing a user interface behavioral model of applications written in Java/Swing.

Development of a library for clients of ONVIF video cameras: challenges and solutions

The interoperability of IP video equipment is a critical problem for surveillance systems and other video application developers. ONVIF is one of the two specifications addressing the standardization of networked devices interface, and it is based on SOAP. This paper addresses the development of an ONVIF library to develop clients of video cameras. We address the choice of a web services toolkit, and how to use the selected toolkit to develop a basic library. From that, we discuss the implementation of features that ...

XAdES4J: a java library for XAdES signature services

As comunicações electrónicas são cada vez mais o meio de eleição para negócios entre entidades e para as relações entre os cidadãos e o Estado (e-government). Esta diversidade de transacções envolve, muitas vezes, informação sensível e com possível valor legal. Neste contexto, as assinaturas electrónicas são uma importante base de confiança, fornecendo garantias de integridade e autenticação entre os intervenientes. A produção de uma assinatura digital resulta não só no valor da assinatura propriamente dita, mas também num conjunto de informação adicional acerca da mesma, como o algoritmo de assinatura, o certificado de validação ou a hora e local de produção. Num cenário heterogéneo como o descrito anteriormente, torna-se necessária uma forma flexível e interoperável de descrever esse tipo de informação. A linguagem XML é uma forma adequada de representar uma assinatura neste contexto, não só pela sua natureza estruturada, mas principalmente por ser baseada em texto e ter suporte generalizado. A recomendação XML Signature Syntax and Processing (ou apenas XML Signature) foi o primeiro passo na representação de assinaturas em XML. Nela são definidas sintaxe e regras de processamento para criar, representar e validar assinaturas digitais. As assinaturas XML podem ser aplicadas a qualquer tipo de conteúdos digitais identificáveis por um URI, tanto no mesmo documento XML que a assinatura, como noutra qualquer localização. Além disso, a mesma assinatura XML pode englobar vários recursos, mesmo de tipos diferentes (texto livre, imagens, XML, etc.). À medida que as assinaturas electrónicas foram ganhando relevância tornou-se evidente que a especificação XML Signature não era suficiente, nomeadamente por não dar garantias de validade a longo prazo nem de não repudiação. Esta situação foi agravada pelo facto da especificação não cumprir os requisitos da directiva 1999/93/EC da União Europeia, onde é estabelecido um quadro legal para as assinaturas electrónicas a nível comunitário. No seguimento desta directiva da União Europeia foi desenvolvida a especificação XML Advanced Electronic Signatures que define formatos XML e regras de processamento para assinaturas electrónicas não repudiáveis e com validade verificável durante períodos de tempo extensos, em conformidade com a directiva. Esta especificação estende a recomendação XML Signature, definindo novos elementos que contêm informação adicional acerca da assinatura e dos recursos assinados (propriedades qualificadoras). A plataforma Java inclui, desde a versão 1.6, uma API de alto nível para serviços de assinaturas digitais em XML, de acordo com a recomendação XML Signature. Contudo, não existe suporte para assinaturas avançadas. Com este projecto pretende-se desenvolver uma biblioteca Java para a criação e validação de assinaturas XAdES, preenchendo assim a lacuna existente na plataforma. A biblioteca desenvolvida disponibiliza uma interface com alto nível de abstracção, não tendo o programador que lidar directamente com a estrutura XML da assinatura nem com os detalhes do conteúdo das propriedades qualificadoras. São definidos tipos que representam os principais conceitos da assinatura, nomeadamente as propriedades qualificadoras e os recursos assinados, sendo os aspectos estruturais resolvidos internamente. Neste trabalho, a informação que compõe uma assinatura XAdES é dividia em dois grupos: o primeiro é formado por características do signatário e da assinatura, tais como a chave e as propriedades qualificadoras da assinatura. O segundo grupo é composto pelos recursos assinados e as correspondentes propriedades qualificadoras. Quando um signatário produz várias assinaturas em determinado contexto, o primeiro grupo de características será semelhante entre elas. Definiu-se o conjunto invariante de características da assinatura e do signatário como perfil de assinatura. O conceito é estendido à verificação de assinaturas englobando, neste caso, a informação a usar nesse processo, como por exemplo os certificados raiz em que o verificador confia. Numa outra perspectiva, um perfil constitui uma configuração do serviço de assinatura correspondente. O desenho e implementação da biblioteca estão também baseados no conceito de fornecedor de serviços. Um fornecedor de serviços é uma entidade que disponibiliza determinada informação ou serviço necessários à produção e verificação de assinaturas, nomeadamente: selecção de chave/certificado de assinatura, validação de certificados, interacção com servidores de time-stamp e geração de XML. Em vez de depender directamente da informação em causa, um perfil — e, consequentemente, a operação correspondente — é configurado com fornecedores de serviços que são invocados quando necessário. Para cada tipo de fornecedor de serviços é definida um interface, podendo as correspondentes implementações ser configuradas de forma independente. A biblioteca inclui implementações de todos os fornecedores de serviços, sendo algumas delas usadas for omissão na produção e verificação de assinaturas. Uma vez que o foco do projecto é a especificação XAdES, o processamento e estrutura relativos ao formato básico são delegados internamente na biblioteca Apache XML Security, que disponibiliza uma implementação da recomendação XML Signature. Para validar o funcionamento da biblioteca, nomeadamente em termos de interoperabilidade, procede-se, entre outros, à verificação de um conjunto de assinaturas produzidas por Estados Membros da União Europeia, bem como por outra implementação da especificação XAdES.

Grid structure impact in sparse point representation of derivatives

In the Sparse Point Representation (SPR) method the principle is to retain the function data indicated by significant interpolatory wavelet coefficients, which are defined as interpolation errors by means of an interpolating subdivision scheme. Typically, a SPR grid is coarse in smooth regions, and refined close to irregularities. Furthermore, the computation of partial derivatives of a function from the information of its SPR content is performed in two steps. The first one is a refinement procedure to extend the SPR by the inclusion of new interpolated point values in a security zone. Then, for points in the refined grid, such derivatives are approximated by uniform finite differences, using a step size proportional to each point local scale. If required neighboring stencils are not present in the grid, the corresponding missing point values are approximated from coarser scales using the interpolating subdivision scheme. Using the cubic interpolation subdivision scheme, we demonstrate that such adaptive finite differences can be formulated in terms of a collocation scheme based on the wavelet expansion associated to the SPR. For this purpose, we prove some results concerning the local behavior of such wavelet reconstruction operators, which stand for SPR grids having appropriate structures. This statement implies that the adaptive finite difference scheme and the one using the step size of the finest level produce the same result at SPR grid points. Consequently, in addition to the refinement strategy, our analysis indicates that some care must be taken concerning the grid structure, in order to keep the truncation error under a certain accuracy limit. Illustrating results are presented for 2D Maxwell's equation numerical solutions.

A Step-up mu-Power Converter for Solar Energy Harvesting Applications, using Hill Climbing Maximum Power Point Tracking

This paper presents a step-up micro-power converter for solar energy harvesting applications. The circuit uses a SC voltage tripler architecture, controlled by an MPPT circuit based on the Hill Climbing algorithm. This circuit was designed in a 0.13 mu m CMOS technology in order to work with an a-Si PV cell. The circuit has a local power supply voltage, created using a scaled down SC voltage tripler, controlled by the same MPPT circuit, to make the circuit robust to load and illumination variations. The SC circuits use a combination of PMOS and NMOS transistors to reduce the occupied area. A charge re-use scheme is used to compensate the large parasitic capacitors associated to the MOS transistors. The simulation results show that the circuit can deliver a power of 1266 mu W to the load using 1712 mu W of power from the PV cell, corresponding to an efficiency as high as 73.91%. The simulations also show that the circuit is capable of starting up with only 19% of the maximum illumination level.

Comportamentos de interação em alunos com perturbações do espectro do autismo: o contributo de histórias sociais na hora do conto

Dissertação apresentada à Escol a Superior de Educação de Lisboa para obtenção de grau de mestre em Ciências da Educação, especialidade Educação Especial: Problemas Graves de Cognição e Multideficiência