On the robustness of short-term interest rate models

This paper investigates the robustness of a range of short–term interest rate models. We examine the robustness of these models over different data sets, time periods, sampling frequencies, and estimation techniques. We examine a range of popular one–factor models that allow the conditional mean (drift) and conditional variance (diffusion) to be functions of the current short rate. We find that parameter estimates are highly sensitive to all of these factors in the eight countries that we examine. Since parameter estimates are not robust, these models should be used with caution in practice.

A mathematical model of concentrate solids content for the wet drum magnetic separator

Low concentrate density from wet drum magnetic separators in dense medium circuits can cause operating difficulties due to inability to obtain the required circulating medium density and, indirectly, high medium solids losses. The literature is almost silent on the processes controlling concentrate density. However, the common name for the region through which concentrate is discharged-the squeeze pan gap-implies that some extrusion process is thought to be at work. There is no model of magnetics recovery in a wet drum magnetic separator, which includes as inputs all significant machine and operating variables. A series of trials, in both factorial experiments and in single variable experiments, was done using a purpose built rig which featured a small industrial scale (700 mm lip length, 900 turn diameter) wet drum magnetic separator. A substantial data set of 191 trials was generated in this work. The results of the factorial experiments were used to identify the variables having a significant effect on magnetics recovery. It is proposed, based both on the experimental observations of the present work and on observations reported in the literature, that the process controlling magnetic separator concentrate density is one of drainage. Such a process should be able to be defined by an initial moisture, a drainage rate and a drainage time, the latter being defined by the volumetric flowrate and the volume within the drainage zone. The magnetics can be characterised by an experimentally derived ultimate drainage moisture. A model based on these concepts and containing adjustable parameters was developed. This model was then fitted to a randomly chosen 80% of the data, and validated by application to the remaining 20%. The model is shown to be a good fit to data over concentrate solids content values from 40% solids to 80% solids and for both magnetite and ferrosilicon feeds. (C) 2003 Elsevier Science B.V. All rights reserved.

A mathematical model of recovery of dense medium magnetics in the wet drum magnetic separator

Loss of magnetic medium solids from dense medium circuits is a substantial contributor to operating cost. Much of this loss is by way of wet drum magnetic separator effluent. A model of the separator would be useful for process design, optimisation and control. A review of the literature established that although various rules of thumb exist, largely based on empirical or anecdotal evidence, there is no model of magnetics recovery in a wet drum magnetic separator which includes as inputs all significant machine and operating variables. A series of trials, in both factorial experiments and in single variable experiments, was therefore carried out using a purpose built rig which featured a small industrial scale (700 mm lip length, 900 mm diameter) wet drum magnetic separator. A substantial data set of 191 trials was generated in the work. The results of the factorial experiments were used to identify the variables having a significant effect on magnetics recovery. Observations carried out as an adjunct to this work, as well as magnetic theory, suggests that the capture of magnetic particles in the wet drum magnetic separator is by a flocculation process. Such a process should be defined by a flocculation rate and a flocculation time; the latter being defined by the volumetric flowrate and the volume within the separation zone. A model based on this concept and containing adjustable parameters was developed. This model was then fitted to a randomly chosen 80% of the data, and validated by application to the remaining 20%. The model is shown to provide a satisfactory fit to the data over three orders of magnitude of magnetics loss. (C) 2003 Elsevier Science BY. All rights reserved.

Valuing of firm's prior knowledge: A measure of knowledge distance

Knowledge, especially scientific and technological knowledge, grows according to knowledge trajectories and guideposts that make up the prior knowledge of an organization. We argue that these knowledge structures and their specific components lead to successful innovation. A firm's prior knowledge facilitates the absorption of new knowledge, thereby renewing a firm's systematic search, transfer and acquisition of knowledge and capabilities. In particular, the exponential growth in biotechnology is characterized by the convergence of disparate scientific and technological knowledge resources. This paper examines the shift from protein-based to DNA-based diagnostic technologies as an example, to quantify the value of a firm's prior knowledge using relative values of knowledge distance. The distance between core prior knowledge and the rate of transition from one knowledge system to another has been identified as a proxy for the value a firm's prior knowledge. The overall difficulty of transition from one technology paradigm to another is discussed. We argue this transition is possible when the knowledge distance is minimal and the transition process has a correspondingly high value of absorptive capacities. Our findings show knowledge distance is a determinant of the feasibility, continuity and capture of scientific and technological knowledge. Copyright © 2003 John Wiley & Sons, Ltd.

Australia and New Zealand satellite coverage using a microstrip patch reflectarray

This paper presents the design of Ku-band (12.25 12.75 GHz) dual-polarized reflectarrays for Optus BI satellites to obtain a contoured beam for Australia and New Zealand. The specified radiation pattern is synthesized using a phase-only synthesis method based on the concept of intersection approach. Having determined the phasing data, single- and double-layer reflectarrays ore designed using variable-size rectangular patches. The performances of the two reflectarrays are assessed by comparing their radiation patterns with the assumed pattern. (C) 2003 Wiley Periodicals, Inc. Microwave Opt Technol Lett 37: 321-325, 2003; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10. 1002/mop. 10907.

CRIM1 Regulates the Rate of Processing and Delivery of Bone Morphogenetic Proteins to the Cell Surface

The Crim1 gene is predicted to encode a transmembrane protein containing six von Willebrand-like cysteine-rich repeats (CRRs) similar to those in the BMP-binding antagonist Chordin (Chrd). In this study, we verify that CRIM1 is a glycosylated, Type I transmembrane protein and demonstrate that the extracellular CRR-containing domain can also be secreted, presumably via processing at the membrane. We have previously demonstrated Crim1 expression at sites consistent with an interaction with bone morphogenetic proteins (BMPs). Here we show that CRIM1 can interact with both BMP4 and BMP7 via the CRR-containing portion of the protein and in so doing acts as an antagonist in three ways. CRIM1 binding of BMP4 and -7 occurs when these proteins are co-expressed within the Golgi compartment of the cell and leads to (i) a reduction in the production and processing of preprotein to mature BMP, (ii) tethering of pre-BMP to the cell surface, and (iii) an effective reduction in the secretion of mature BMP. Functional antagonism was verified by examining the effect of coexpression of CRIM1 and BMP4 on metanephric explant culture. The presence of CRIM1 reduced the effective BMP4 concentration of the media, thereby acting as a BMP4 antagonist. Hence, CRIM1 modulates BMP activity by affecting its processing and delivery to the cell surface

Exceptionally high-rate nitrification in sequencing batch reactors treating high ammonia landfill leachate

The nitrogen removal capacity of a suspended culture system treating mature landfill leachate was investigated. Leachate containing high ammonium levels of 300-900 mg N/L was nitrified in a bench scale sequencing batch reactor. Leachate from four different landfills was treated over a two year period for the removal of nitrogen. In this time, a highly specific nitrifying culture was attained that delivered exceptionally high rates of ammonia removal. No sludge was wasted from the system to increase the throughput and up to 13 g/L of MLSS was obtained. Settleability of the purely nitrifying biomass was excellent with SVI less than 40 mL/g, even at the high sludge concentrations. Nitrification rates up to 246 mg NI(L h) (5.91 g N/(L d)) and specific nitrification rates of 36 mg N/(gVSS h) (880 mg N/(gVSS d)) were obtained. The loading to the system at this time allowed complete nitrification of the leachate with a hydraulic retention time of only 5 hours. Following these successful treatability studies, a full-scale plant was designed and built at one of the landfills investigated.

Calculation of bound and resonance states of HO2 for nonzero total angular momentum

Bound and resonance states of HO2 have been calculated quantum mechanically by the Lanczos homogeneous filter diagonalization method [Zhang and Smith, Phys. Chem. Chem. Phys. 3, 2282 (2001); J. Chem. Phys. 115, 5751 (2001)] for nonzero total angular momentum J = 1,2,3. For lower bound states, agreement between the results in this paper and previous work is quite satisfactory; while for high lying bound states and resonances these are the first reported results. A helicity quantum number V assignment (within the helicity conserving approximation) is performed and the results indicate that for lower bound states it is possible to assign the V quantum numbers unambiguously, but for resonances it is impossible to assign the V helicity quantum numbers due to strong mixing. In fact, for the high-lying bound states, the mixing has already appeared. These results indicate that the helicity conserving approximation is not good for the resonance state calculations and exact quantum calculations are needed to accurately describe the reaction dynamics for HO2 system. Analysis of the resonance widths shows that most of the resonances are overlapping and the interferences between them lead to large fluctuations from one resonance to another. In accord with the conclusions from earlier J = 0 calculations, this indicates that the dissociation of HO2 is essentially irregular. (C) 2003 American Institute of Physics.

Development of a quality use of medicines coding system to rate clinical pharmacists' medication review recommendations

Objective: To develop a 'quality use of medicines' coding system for the assessment of pharmacists' medication reviews and to apply it to an appropriate cohort. Method: A 'quality use of medicines' coding system was developed based on findings in the literature. These codes were then applied to 216 (111 intervention, 105 control) veterans' medication profiles by an independent clinical pharmacist who was supported by a clinical pharmacologist with the aim to assess the appropriateness of pharmacy interventions. The profiles were provided for veterans participating in a randomised, controlled trial in private hospitals evaluating the effect of medication review and discharge counselling. The reliability of the coding was tested by two independent clinical pharmacists in a random sample of 23 veterans from the study population. Main outcome measure: Interrater reliability was assessed by applying Cohen's kappa score on aggregated codes. Results: The coding system based on the literature consisted of 19 codes. The results from the three clinical pharmacists suggested that the original coding system had two major problems: (a) a lack of discrimination for certain recommendations e. g. adverse drug reactions, toxicity and mortality may be seen as variations in degree of a single effect and (b) certain codes e. g. essential therapy were in low prevalence. The interrater reliability for an aggregation of all codes into positive, negative and clinically non-significant codes ranged from 0.49-0.58 (good to fair). The interrater reliability increased to 0.72-0.79 (excellent) when all negative codes were excluded. Analysis of the sample of 216 profiles showed that the most prevalent recommendations from the clinical pharmacists were a positive impact in reducing adverse responses (31.9%), an improvement in good clinical pharmacy practice (25.5%) and a positive impact in reducing drug toxicity (11.1%). Most medications were assigned the clinically non-significant code (96.6%). In fact, the interventions led to a statistically significant difference in pharmacist recommendations in the categories; adverse response, toxicity and good clinical pharmacy practice measured by the quality use of medicine coding system. Conclusion: It was possible to use the quality use of medicine coding system to rate the quality and potential health impact of pharmacists' medication reviews, and the system did pick up differences between intervention and control patients. The interrater reliability for the summarised coding system was fair, but a larger sample of medication regimens is needed to assess the non-summarised quality use of medicines coding system.

Narrating the guillotine: Punishment technology as myth and symbol

The work of Michel Foucault sees modern penal technology its ann expression of power that operates through and is motivated by a dry instrumental reason. This article draws upon Durkheim and Bakhtin to advance a radically alternative approach. It is suggested that such technology is invested with sacred and profane symbolism and is understood via emotionally charged, dramatically compelling narrative frames. Tensions between official and unauthorized discourses can be understood through a center/periphery model of culture. In an extended case study of the guillotine, it is shown dial the apparatus was initially legitimated as an expression of a sacred revolutionary code. Such a discourse was subsequently destabilized by popular medical debates that raised the specter of pain after decapitation. While inconclusive, these new motifs mobilized Gothic and grotesque themes that confronted the rationalist aesthetics of the guillotine. A situation of Bakhtinian hetoroglossia eventuated. Uncertainty, the uncanny and fable entered a discursive field of increasing complexity.

A comparison of two methods for the calculation of accumulated oxygen deficit

The aim of this study was to compare accumulated oxygen deficit data derived using two different exercise protocols with the aim of producing a less time-consuming test specifically for use with athletes. Six road and four track male endurance cyclists performed two series of cycle ergometer tests. The first series involved five 10 min sub-maximal cycle exercise bouts, a (V) over dotO(2peak) test and a 115% (V) over dotO(2peak) test. Data from these tests were used to estimate the accumulated oxygen deficit according to the calculations of Medbo et al. (1988). In the second series of tests, participants performed a 15 min incremental cycle ergometer test followed, 2 min later, by a 2 min variable resistance test in which they completed as much work as possible while pedalling at a constant rate. Analysis revealed that the accumulated oxygen deficit calculated from the first series of tests was higher (P< 0.02) than that calculated from the second series: 52.3 +/- 11.7 and 43.9 +/- 6.4 ml . kg(-1), respectively (mean +/- s). Other significant differences between the two protocols were observed for (V) over dot O-2peak, total work and maximal heart rate; all were higher during the modified protocol (P

Effects of speaking rate on EMA-derived lingual kinematics: a preliminary investigation

Electromagnetic articulography (EMA) was used to investigate how tongue movement characteristics (i.e., velocity, acceleration, duration, distance) change with. or indeed affect, increased rates of speech. Eight young adult males repeated /ta/ and /ka/ syllables first at a moderate rate that had been modelled at three syllables per second, and then 'as fast as possible'. Distance travelled by the tongue appeared to be the principal lingual kinematic feature manipulated by the group of speakers in producing increased syllable repetition rates, with velocity found to increase, decrease or remain unchanged. Acceleration remained unchanged, except in the case of increased velocity. One participant formed an exception in terms of manipulating distance by exhibiting marginally increased lingual velocities rather than distance changes. This preliminary study serves to direct future EMA-based studies of speech rate control as to the speech tasks that should be employed and the possible underlying anatomical and acoustic bases or constraints that could possibly influence the kinematic strategies employed to increase speech rate.