Monetary models of exchange rates and sweep programs

Numerous studies find that monetary models of exchange rates cannot beat a random walk model. Such a finding, however, is not surprising given that such models are built upon money demand functions and traditional money demand functions appear to have broken down in many developed countries. In this paper we investigate whether using a more stable underlying money demand function results in improvements in forecasts of monetary models of exchange rates. More specifically, we use a sweepadjusted measure of US monetary aggregate M1 which has been shown to have a more stable money demand function than the official M1 measure. The results suggest that the monetary models of exchange rates contain information about future movements of exchange rates but the success of such models depends on the stability of money demand functions and the specifications of the models.

A conceptual framework of knowledge integration in multisourcing arrangements

As organizations are increasingly outsourcing interdependent IT and business services to multiple vendors, the issue of knowledge integration between client and multiple vendors is becoming of high relevance today. This paper explores the antecedents and mechanisms which facilitate the success of knowledge integration across multiple stakeholders in multisourcing and the outcomes of successful knowledge integration in this context. The paper develops a conceptual framework of knowledge integration in the multisourcing arrangements, based on a detailed review of current literature on knowledge integration and applying it to the multi-vendor environment. This paper concludes by calling for further empirical study to examine the integrative framework of the key antecedents, mechanisms and consequences of knowledge integration in the multisourcing arrangements.

Network learning:an empirically-derived conceptual model of learning by groups of organizations

Building on a previous conceptual article, we present an empirically derived model of network learning - learning by a group of organizations as a group. Based on a qualitative, longitudinal, multiple-method empirical investigation, five episodes of network learning were identified. Treating each episode as a discrete analytic case, through cross-case comparison, a model of network learning is developed which reflects the common, critical features of the episodes. The model comprises three conceptual themes relating to learning outcomes, and three conceptual themes of learning process. Although closely related to conceptualizations that emphasize the social and political character of organizational learning, the model of network learning is derived from, and specifically for, more extensive networks in which relations among numerous actors may be arms-length or collaborative, and may be expected to change over time.

Dynamic models of exchange rate dependence using option prices and historical returns

Models for the conditional joint distribution of the U.S. Dollar/Japanese Yen and Euro/Japanese Yen exchange rates, from November 2001 until June 2007, are evaluated and compared. The conditional dependency is allowed to vary across time, as a function of either historical returns or a combination of past return data and option-implied dependence estimates. Using prices of currency options that are available in the public domain, risk-neutral dependency expectations are extracted through a copula repre- sentation of the bivariate risk-neutral density. For this purpose, we employ either the one-parameter \Normal" or a two-parameter \Gumbel Mixture" specification. The latter provides forward-looking information regarding the overall degree of covariation, as well as, the level and direction of asymmetric dependence. Specifications that include option-based measures in their information set are found to outperform, in-sample and out-of-sample, models that rely solely on historical returns.

Debate : arm's- length bodies and alternative models of service delivery

This article reflects on the UK coalition government’s ‘alternative models’ agenda, specifically in terms of the adoption of new models of service delivery by arm’s-length bodies (ALBs). It provides an overview of the alternative models agenda and discusses barriers to implementation. These include practical challenges involved in the set up of alternative models, the role of sponsor departments, and the effective communication of best practice. Finally, the article highlights some issues for further discussion.

Developing accurate models of the human airways

Objectives Particle delivery to the airways is an attractive prospect for many potential therapeutics, including vaccines. Developing strategies for inhalation of particles provides a targeted, controlled and non-invasive delivery route but, as with all novel therapeutics, in vitro and in vivo testing are needed prior to clinical use. Whilst advanced vaccine testing demands the use of animal models to address safety issues, the production of robust in vitro cellular models would take account of the ethical framework known as the 3Rs (Replacement, Reduction and Refinement of animal use), by permitting initial screening of potential candidates prior to animal use. There is thus a need for relevant, realistic in vitro models of the human airways. Key findings Our laboratory has designed and characterised a multi-cellular model of human airways that takes account of the conditions in the airways and recapitulates many salient features, including the epithelial barrier and mucus secretion. Summary Our human pulmonary models recreate many of the obstacles to successful pulmonary delivery of particles and therefore represent a valid test platform for screening compounds and delivery systems.

Verification and validation of numerical models of the transport of insulation debris

A combination of the two-fluid and drift flux models have been used to model the transport of fibrous debris. This debris is generated during loss of coolant accidents in the primary circuit of pressurized or boiling water nuclear reactors, as high pressure steam or water jets can damage adjacent insulation materials including mineral wool blankets. Fibre agglomerates released from the mineral wools may reach the containment sump strainers, where they can accumulate and compromise the long-term operation of the emergency core cooling system. Single-effect experiments of sedimentation in a quiescent rectangular column and sedimentation in a horizontal flow are used to verify and validate this particular application of the multiphase numerical models. The utilization of both modeling approaches allows a number of pseudocontinuous dispersed phases of spherical wetted agglomerates to be modeled simultaneously. Key effects on the transport of the fibre agglomerates are particle size, density and turbulent dispersion, as well as the relative viscosity of the fluid-fibre mixture.

Further preliminary assessment of three human glioma cell lines as models of human astrocytic toxicity in vitro

Three human astroglioma lines U251-MG, U373-MG and CCF-STTG1 have been evaluated further as possible models for astrocytotoxicity (GFAP and IL-6 release). The effects of bacterial lipopolysaccharide, chloroquine diphosphate and acrylamide were studied on GFAP expression and LPS, chloroquine diphosphate, ethanol, trimethyltin chloride (TMTC) and acrylamide were examined on interleukin-6 (IL-6) release in the U373-MG line only. At 4-h LIPS elevated GFAP (17.0±5.0% P < 0.05) above control in the U251-MG cell line only. Chloroquine diphosphate over 4 h in the U251-MG line resulted in an increase in GFAP-IR to 20.3 ±4.2% and 21.1 ± 4.1 % above control levels 0.1 µM (P< 0.05) and 1 µM (P< 0.05) respectively. CQD was associated with decreases in MTT turnover, particularly after 24 h incubation. With the U373-MG line, LPS (0.5 µg/ml) increased IL-6 expression 640% above control (P < 0.001), whilst chloroquine diphosphate (100 µM), ethanol (10mM) and TMTC chloride (1 µM) also increased IL-6. It is possible that batteries of astrocytic human glioma cell lines may be applicable to the sensitive evaluation of toxicants on astrogliotic expression markers such as GFAP and IL-6.

On the Models of Development and Distribution of Software

The notion model of development and distribution of software (MDDS) is introduced and its role for the efficiency of the software products is stressed. Two classical MDDS are presented and some attempts to adapt them to the contemporary trends in web-based software design are described. Advantages and shortcomings of the obtained models are outlined. In conclusion the desired features of a better MDDS for web-based solutions are given.

The Localization Procedures of the Vector of Weighting Coefficients for Fuzzy Models of Choice

The author analyzes the localization procedures of the vector of weighting coefficients which are based on presenting the function of value by additive reduction adapted to fuzzy models of choice.

Models of Alternating Renewal Process at Discrete Time

We study a class of models used with success in the modelling of climatological sequences. These models are based on the notion of renewal. At first, we examine the probabilistic aspects of these models to afterwards study the estimation of their parameters and their asymptotical properties, in particular the consistence and the normality. We will discuss for applications, two particular classes of alternating renewal processes at discrete time. The first class is defined by laws of sojourn time that are translated negative binomial laws and the second class, suggested by Green is deduced from alternating renewal process in continuous time with sojourn time laws which are exponential laws with parameters α^0 and α^1 respectively.

Mathematical Models of Domain Ontologies

* This paper was made according to the program No 14 of fundamental scientific research of the Presidium of the Russian Academy of Sciences, the project "Intellectual Systems Based on Multilevel Domain Models".

Low-Power Tracking Image Sensor Based on Biological Models of Attention

This paper presents implementation of a low-power tracking CMOS image sensor based on biological models of attention. The presented imager allows tracking of up to N salient targets in the field of view. Employing "smart" image sensor architecture, where all image processing is implemented on the sensor focal plane, the proposed imager allows reduction of the amount of data transmitted from the sensor array to external processing units and thus provides real time operation. The imager operation and architecture are based on the models taken from biological systems, where data sensed by many millions of receptors should be transmitted and processed in real time. The imager architecture is optimized to achieve low-power dissipation both in acquisition and tracking modes of operation. The tracking concept is presented, the system architecture is shown and the circuits description is discussed.

Comparison of the anticatabolic effects of leucine and Ca-β-hydroxy-β-methylbutyrate in experimental models of cancer cachexia

Objective: Loss of skeletal muscle is the most debilitating feature of cancer cachexia, and there are few treatments available. The aim of this study was to compare the anticatabolic efficacy of L-leucine and the leucine metabolite β-hydroxy-β-methylbutyrate (Ca-HMB) on muscle protein metabolism, both invitro and invivo. Methods: Studies were conducted in mice bearing the cachexia-inducing murine adenocarcinoma 16 tumor, and in murine C2 C12 myotubes exposed to proteolysis-inducing factor, lipopolysaccharide, and angiotensin II. Results: Both leucine and HMB were found to attenuate the increase in protein degradation and the decrease in protein synthesis in murine myotubes induced by proteolysis-inducing factor, lipopolysaccharide, and angiotensin II. However, HMB was more potent than leucine, because HMB at 50 μM produced essentially the same effect as leucine at 1 mM. Both leucine and HMB reduced the activity of the ubiquitin-proteasome pathway as measured by the functional (chymotrypsin-like) enzyme activity of the proteasome in muscle lysates, as well as Western blot quantitation of protein levels of the structural/enzymatic proteasome subunits (20 S and 19 S) and the ubiquitin ligases (MuRF1 and MAFbx). Invivo studies in mice bearing the murine adenocarcinoma 16 tumor showed a low dose of Ca-HMB (0.25 g/kg) tobe 60% more effective than leucine (1 g/kg) in attenuating loss of body weight over a 4-d period. Conclusion: These results favor the clinical feasibility of using Ca-HMB over high doses of leucine for the treatment of cancer cachexia. © 2014 Elsevier Inc.

Bottleneck Problem Solution using Biological Models of Attention in High Resolution Tracking Sensors

Every high resolution imaging system suffers from the bottleneck problem. This problem relates to the huge amount of data transmission from the sensor array to a digital signal processing (DSP) and to bottleneck in performance, caused by the requirement to process a large amount of information in parallel. The same problem exists in biological vision systems, where the information, sensed by many millions of receptors should be transmitted and processed in real time. Models, describing the bottleneck problem solutions in biological systems fall in the field of visual attention. This paper presents the bottleneck problem existing in imagers used for real time salient target tracking and proposes a simple solution by employing models of attention, found in biological systems. The bottleneck problem in imaging systems is presented, the existing models of visual attention are discussed and the architecture of the proposed imager is shown.