944 resultados para Monetary equilibrium
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We present a tethered Monte Carlo simulation of the crystallization of hard spheres. Our method boosts the traditional umbrella sampling to the point of making practical the study of constrained Gibbs’ free energies depending on several crystalline order parameters. We obtain high-accuracy estimates of the fluid-crystal coexistence pressure for up to 2916 particles (enough to accommodate fluid-solid interfaces). We are able to extrapolate to infinite volume the coexistence pressure [p_(co) = 11.5727(10)k_(B)T/σ^(3)] and the interfacial free energy [γ_({100}) = 0.636(11)k_(B)T/σ^(2)].
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This project attempts to answer the question "What holds the construction of money together?" by asserting that it is money's religious nature which provides the moral compulsion for people to use, and continue to uphold, money as a socially constructed concept. This project is primarily descriptive and focuses on the religious nature of money by employing a sociological theory of religion in viewing money as a technical concept. This is an interdisciplinary work between religious studies, economics, and sociology and draws heavily from Emile Durkheim's 'The Elementary Forms of Religious Life' as well as work related to heterodox theories of money developed by Geoffrey Ingham, A. Mitchell Innes, and David Graeber. Two new concepts are developed: the idea of monetary sacrality and monetary effervescence, both of which serve to recharge the religious saliency of money. By developing the concept of monetary sacrality, this project shows how money acts to interpret our economic relations while also obfuscating complex power dynamics in society, making them seem naturally occurring and unchangeable. The project also shows how our contemporary fractional reserve banking system contributes to money's collective effervescence and serves to animate economic acting within a monetary network. The project concludes by outlining multiple implications for religious studies, economics, sociology, and central banking.
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Phase equilibrium data regression is an unavoidable task necessary to obtain the appropriate values for any model to be used in separation equipment design for chemical process simulation and optimization. The accuracy of this process depends on different factors such as the experimental data quality, the selected model and the calculation algorithm. The present paper summarizes the results and conclusions achieved in our research on the capabilities and limitations of the existing GE models and about strategies that can be included in the correlation algorithms to improve the convergence and avoid inconsistencies. The NRTL model has been selected as a representative local composition model. New capabilities of this model, but also several relevant limitations, have been identified and some examples of the application of a modified NRTL equation have been discussed. Furthermore, a regression algorithm has been developed that allows for the advisable simultaneous regression of all the condensed phase equilibrium regions that are present in ternary systems at constant T and P. It includes specific strategies designed to avoid some of the pitfalls frequently found in commercial regression tools for phase equilibrium calculations. Most of the proposed strategies are based on the geometrical interpretation of the lowest common tangent plane equilibrium criterion, which allows an unambiguous comprehension of the behavior of the mixtures. The paper aims to show all the work as a whole in order to reveal the necessary efforts that must be devoted to overcome the difficulties that still exist in the phase equilibrium data regression problem.
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This paper presents the results of a liquid–liquid equilibrium data correlation for 11 ternary systems which have not been previously fitted using the NRTL model or, when they have, the results presented in the literature are inconsistent with the experimental behavior of the system. These ternary systems include mixtures with one or two partially miscible pairs. During the correlation process, new restrictions were imposed on the values for the NRTL binary parameters to ensure correct prediction of the total or partial miscibility for the binary pairs involved. In addition, topological concepts related to the Gibbs stability test have been applied in order to validate the results in the whole range of compositions.
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Presentation submitted to PSE Seminar, Chemical Engineering Department, Center for Advanced Process Design-making (CAPD), Carnegie Mellon University, Pittsburgh (USA), October 2012.
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In this work the usefulness of qualitatively studying and drawing three-dimensional temperature–composition diagrams for ternary systems is pointed out to understand and interpret the particular behavior of the liquid–vapour equilibrium of non-ideal ternary systems. Several examples have been used in order to highlight the interest and the possibilities of this tool, which should be an interesting support not only for lecturers, but also for researchers interested in experimental equilibrium data determination.
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The temperature and the composition of the vapor–liquid–liquid equilibrium (VLLE) and the vapor–liquid equilibrium (VLE) of a ternary mixture of water–n-butanol–cyclohexane were measured at atmospheric pressure (101.32 kPa) in a modified dynamic recirculating still. As found in the literature, the experimental data obtained reveal a ternary azeotrope at 341.86 K with a mole fraction composition of 0.281, 0.034, and 0.685 water, n-butanol, and cyclohexane, respectively. The liquid–liquid equilibrium (LLE) compositions were measured at a constant temperature of 313.15 K and compared with data in the literature collected at other temperatures. Thermodynamic consistency of all the experimental data was demonstrated. The universal quasichemical (UNIQUAC) and the nonrandom two-liquid (NRTL) thermodynamic models were used to correlate the VLE and LLE data, while the original universal functional (UNIFAC) model was used to compare the predicted data.
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The (vapor + liquid), (liquid + liquid) and (vapor + liquid + liquid) equilibria of the ternary system (water + 1-butanol + p-xylene) have been determined. (Water + 1-butanol + p-xylene) is a type 2 heterogeneous ternary system with partially miscible (water + 1-butanol) and (water + p-xylene) pairs. By contrast, (1-butanol + p-xylene) is totally miscible under atmospheric conditions. This paper examines the (vapor + liquid) equilibrium in both heterogeneous and homogeneous regions at 101.3 kPa of pressure. (Liquid + liquid) equilibrium data at T = 313.15 K have also been determined, and for comparison, the obtained experimental data have been calculated by means of several thermodynamic models: UNIQUAC, UNIFAC and NRTL. Some discrepancies were found between the (vapor + liquid + liquid) correlations; however, the models reproduced the (liquid + liquid) equilibrium data well. The obtained data reveal a ternary heterogeneous azeotrope with mole fraction composition: 0.686 water, 0.146 1-butanol and 0.168 p-xylene.
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Mathematical models used for the understanding of coastal seabed morphology play a key role in beach nourishment projects. These projects have become the fundamental strategy for coastal maintenance during the last few years. Accordingly, the accuracy of these models is vital to optimize the costs of coastal regeneration projects. Planning of such interventions requires methodologies that do not generate uncertainties in their interpretation. A study and comparison of mathematical simulation models of the coastline is carried out in this paper, as well as elements that are part of the model that are a source of uncertainty. The equilibrium profile (EP) and the offshore limit corresponding to the depth of closure (DoC) have been analyzed taking into account different timescale ranges. The results have thus been compared using data sets from three different periods which are identified as present, past and future. Accuracy in data collection for the beach profiles and the definition of the median grain size calculation using collected samples are the two main factors that have been taken into account in this paper. These data can generate high uncertainties and can produce a lack of accuracy in nourishment projects. Together they can generate excessive costs due to possible excess or shortage of sand used for the nourishment. The main goal of this paper is the development of a new methodology to increase the accuracy of the existing equilibrium beach profile models, providing an improvement to the inputs used in such models and in the fitting of the formulae used to obtain seabed shape. This new methodology has been applied and tested on Valencia's beaches.
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A mixture of water + NaCl + 1-butanol at 101.3 kPa is studied in order to determine the influence of salt on its experimental vapor–liquid–liquid–solid equilibrium. A detailed analysis of the evolution with temperature of the different equilibrium regions is carried out. The study is conducted at a constant pressure of 101.3 kPa in a recirculating still that has been modified by our research group. The changes in the 1-butanol/water composition ratio in the vapor phase that are provoked by the salt are studied as a function of equilibrium region. In addition, the mutual solubility of 1-butanol and water is assessed in the liquid–liquid and solid–liquid regions.
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This dissertation examines the drivers and implications of international capital flows. The overarching motivation is the observation that countries not at the centre of global financial markets are subject to considerable spillovers from centre countries, notably from their monetary policy. I present new empirical evidence on the determinants of the observed patterns of international capital flows and monetary policy spillovers, and study their effect on both financial markets and the real economy. In Chapter 2 I provide evidence on the determinants of a puzzling negative correlation observed between productivity growth and net capital inflows to developing and emerging market economies (EMEs) since 1980. By disaggregating net capital inflows into their gross components, I show that this negative correlation is explained by capital outflows related to purchases of very liquid assets from the fastest growing countries. My results suggest a desire for international portfolio diversification in liquid assets by fast growing countries is driving much of the original puzzle. In the reminder of my dissertation I pivot to study the foreign characteristics that drive international capital flows and monetary policy spillovers, with a particular focus on the role of unconventional monetary policy in the United States (U.S.). In Chapter 3 I show that a significant portion of the heterogeneity in EMEs' asset price adjustment following the quantitative easing operations by the Federal Reserve (the Fed) during 2008-2014 can be explained by the degree of bilateral capital market frictions between these countries and the U.S. This is true even after accounting for capital controls, exchange rate regimes, and domestic monetary policies. Chapter 4, co-authored with Michal Ksawery Popiel, studies unconventional monetary policy in a small open economy, looking specifically at the case of Canada since the global financial crisis. We quantify the effect Canadian unconventional monetary policy shocks had on the real economy, while carefully controlling for and quantifying spillovers from U.S. unconventional monetary policy. Our results indicate that the Bank of Canada's unconventional monetary policy increased Canadian output significantly from 2009-2010, but that spillovers from the Fed's policy were even more important for increasing Canadian output after 2008.
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In the decade to come, the European Union will embark on two new projects, each destined to transform it in fundamental ways: (i) Eastern enlargement, and (ii) economic and monetary union. Neither of these projects will affect all members equally or in the same way. But Greece will, for two reasons, be affected in a manner qualitatively different to all other member states. First, Greece is the only country physically affected by the Luxembourg Summit's decision to begin accession negotiations with some, but not all, Central and Eastern European applicant countries: as a result of this decision, she will continue, for at least another eight to ten years, to be the only member country not to share a common border with another member state, with all the consequent implications in economic and geostrategic tenns. Second, when the European Council meets in early May to select those member states that are deemed to have met the convergence criteria, it will find that Greece is the only member state falling short of those criteria. This development may create additional difficulties for her economy during the transitional period of derogation. It will also pose new risks to Greece, insofar as she will be absent during the initial-and crucial-years of establishing a common monetary policy.