Theoretical and experimental researches of post-micro-buckling for fiber-reinforced composites

Post-microbuckling is a fundamental feature of compressive failure process for the unidirectional-fiber-reinforced composites and laminated composites. The post-microbuckling behavior of composites under compression in the light of the Kevlar49-reinforced 648/BF3.400 (brittle epoxy) and EP (flexible epoxy) is studied, theoretically and experimentally. Analytical results of compressive strength are in good agreement with experimental results, qualitatively and quantitatively. By the experimental research, the post-microbuckling feature of the advancing kink band model is clearly displayed.

On post-instability processes in adiabatic shear in hot rolled steel

EXPERIMENTS carried out using a split Hopkinson torsional bar have shown that only one shear band develops in specimens of hot rolled steel which break during testing. We observed, however, that in specimens which were not deformed to failure, several fine shear bands appeared. We believe that these formed during the loading cycle before the appearance of the final shear band and were not due to the effect of unloading. So we developed a numerical model to study the evolution of shear banding from several finite amplitude disturbances (FADs) in both temperature and strain rate. This numerical model reveals the detailed processes by which the FADs evolve into a fully developed shear band and suggests that beyond instability, the so-called shear banding process consists of two stages: inhomogeneous shearing and true shear-banding. The latter is characterized by the collapse of the stress and an abrupt increase of the local shear strain rate.

Full-duplex wireless-over-fibre transmission incorporating a CWDM ring architecture with remote millimetre-wave LO delivery using a bi-directional SOA

We demonstrate the first full-duplex wireless-over-fibre transmission between a central station and a CWDM ring architecture with remote 40 GHz LO delivery using a bi-directional semiconductor optical amplifier. © 2005 Optical Society of America.

Profit and Cost in "Modern" Post-Marxian Profit Theory: A Case Study from Varian's "Intermediate Microeconomics"

In this paper, I examine the treatment of competitive profit of professor Varian in his textbook on Microeconomics, as a representative of the “modern” post-Marxian view on competitive profit. I show how, on the one hand, Varian defines profit as the surplus of revenues over cost and, thus, as a part of the value of commodities that is not any cost. On the other hand, however, Varian defines profit as a cost, namely, as the opportunity cost of capital, so that, in competitive conditions, the profit or income of capital is determined by the opportunity cost of capital. I argue that this second definition contradicts the first and that it is based on an incoherent conception of opportunity cost.

The Comovement between Monetary and Fiscal Policy Instruments during the Post-War Period in the U.S.

This paper empirically studies the dynamic relationship between monetary and fiscal policies by analyzing the comovements between the Fed funds rate and the primary deficit/output ratio. Simple economic thinking establishes that a negative correlation between Fed rate and deficit arises whenever the two policy authorities share a common stabilization objective. However, when budget balancing concerns lead to a drastic deficit reduction the Fed may reduce the Fed rate in order to smooth the impact of fiscal policy, which results in a positive correlation between these two policy instruments. The empirical results show (i) a significant negative comovement between Fed rate and deficit and (ii) that deficit and output gap Granger-cause the Fed funds rate during the post-Volcker era, but the opposite is not true.

Option-Implied Preferences Adjustments and Risk-Neutral Density Forecasts

The main objective of this paper is to analyse the value of information contained in prices of options on the IBEX 35 index at the Spanish Stock Exchange Market. The forward looking information is extracted using implied risk-neutral density functions estimated by a mixture of two-lognormals and three alternative risk-adjustments: the classic power and exponential utility functions and a habit-based specification that allows for a counter-cyclical variation of risk aversion. Our results show that at four-week horizon we can reject the hypothesis that between October 1996 and March 2000 the risk-neutral densities provide accurate predictions of the distributions of future realisations of the IBEX 35 index at a four-week horizon. When forecasting through risk-adjusted densities the performance of this period is statistically improved and we no longer reject that hypothesis. All risk-adjusted densities generate similar forecasting statistics. Then, at least for a horizon of four-weeks, the actual risk adjustment does not seem to be the issue. By contrast, at the one-week horizon risk-adjusted densities do not improve the forecasting ability of the risk-neutral counterparts.

Markov Switching Risk Premium and the term structure of interest rates. Empirical evidence from US post-war interest rates

This paper considers the basic present value model of interest rates under rational expectations with two additional features. First, following McCallum (1994), the model assumes a policy reaction function where changes in the short-term interest rate are determined by the long-short spread. Second, the short-term interest rate and the risk premium processes are characterized by a Markov regime-switching model. Using US post-war interest rate data, this paper finds evidence that a two-regime switching model fits the data better than the basic model. The estimation results also show the presence of two alternative states displaying quite different features.

The changing behaviour of the term structure of post-war US

Using U.S. interest rate data covering the period 1950:1-1992:7, this paper tests the rational expectations model of the term structure of interest rates. We show evidence that the rational expectations model of the term structure is supported by the data during the seventies and a period lasting from the mid-eighties to the end of the sample. However, during the …fties, sixties and a period that covers most of the Volcker’s office term (from September 1979 to April 1986) the term structure model is rejected by the data. Moreover, wefind evidence of regime changes in the short-term rate process and the term structure of interest rates. These regime switches roughly coincide with changes in the Federal Reserve chairman. The switches in monetary policy taking place when the chairmanship of the Federal Reserve changes therefore seem to play an important role in characterizing the term structure of interest rates.

Switching Regimes in the Term Structure of Interest Rates During U.S. Post-War: A case for the Lucas proof equilibrium?

Published as an article in: Studies in Nonlinear Dynamics & Econometrics, 2004, vol. 8, issue 1, pages 5.

Beach monitoring project Sand Key Phase II Beach nourishment program (North Redington Beach and Redington Shores) Post-Nourishment Report Part II Offshore Profiles and Wave Data

This study presents the third post-nourishment survey (January 1989) results for the Sand Key Phase II beach nourishment project carried out in June, 1988. The monitoring program to this beach nourishment project is a joint effort between the University of South Florida and University of Florida. The field surveys include a total of 26 profiles, encompassing approximately 3 miles of shoreline extending from DNR R-96 to R-1ll. The total calculated volume loss of sand in the nourished segment (from R-99G to R-107) between the July 88 and January 89 surveys is 51,113 cubic yards, which is a loss about 9.7 percent of 529,150 cubic yards actually placed in the nourishment project. The total loss of sand computed in the entire survey area is 26,796 cubic yards, which is only 5.1 percent of the sand placed in the nourishment project. It is stressed that a part of these net volume reductions is due to the background erosion and not due to spreading losses induced by the nourishment project. (PDF contains 168 pages.)

Aquatic Vegetation, Largemouth Bass and Water Quality Responses to Low-Dose Fluridone Two Years Post Treatment

Whole-lake techniques are increasingly being used to selectively remove exotic plants, including Eurasian watermilfoil ( Myriophyllum spicatum L.). Fluridone (1-methyl-3-phenyl- 5-[3-(trifluoromethyl)phenyl]-4(1 H )-pyridinone), a systemic whole-lake herbicide, is selective for Eurasian watermilfoil within a narrow low concentration range. Because fluridone applications have the potential for large effects on plant assemblages and lake food webs, they should be evaluated at the whole-lake scale. We examined effects of low-dose (5 to 8 ppb) fluridone applications by comparing submersed plant assemblages, water quality and largemouth bass ( Micropterus salmoides ) growth rates and diets between three reference lakes and three treatment lakes one- and two-years post treatment. In the treatment lakes, fluridone reduced Eurasian watermilfoil cover without reducing native plant cover, although the duration of Eurasian watermilfoil reduction varied among treatment lakes. (PDF has 11 pages.)

Impacto de las políticas crediticias de la banca en los resultados ex post : una aproximación desde las teorías económicas del ciclo crediticio

[ES]Este trabajo se centra en el análisis de la relación entre las políticas crediticias de las entidades de crédito y el comportamiento de las mismas ex post. Se hace una revisión de la teoría que justifica que los mercados crediticios pueden estar sujetos, en determinadas circunstancias, a un componente endógeno más elevado de lo que, en general, se atribuye. Se plantea como hipótesis de trabajo la existencia de una relación entre la intensidad en el crecimiento de la cartera crediticia de los bancos en las fases de expansión crediticia y su comportamiento ex post. Los resultados preliminares presentados confirman la hipótesis de que las entidades que más desvían su crecimiento crediticio respecto del crecimiento del PIB nominal, están sujetas a un peor comportamiento en cuanto a la evolución posterior de sus beneficios, rentabilidades e insolvencias.

Explorando la relación entre políticas crediticias y resultados de la banca española ex-post

© Este trabajo está licenciado bajo la licencia Creative Commons Attribution 3.0.