The Macroeconomic Effects of Fiscal Policy in a Small Open Economy under a Flexible Exchange Rate Regime

This licentiate's thesis analyzes the macroeconomic effects of fiscal policy in a small open economy under a flexible exchange rate regime, assuming that the government spends exclusively on domestically produced goods. The motivation for this research comes from the observation that the literature on the new open economy macroeconomics (NOEM) has focused almost exclusively on two-country global models and the analyses of the effects of fiscal policy on small economies are almost completely ignored. This thesis aims at filling in the gap in the NOEM literature and illustrates how the macroeconomic effects of fiscal policy in a small open economy depend on the specification of preferences. The research method is to present two theoretical model that are extensions to the model contained in the Appendix to Obstfeld and Rogoff (1995). The first model analyzes the macroeconomic effects of fiscal policy, making use of a model that exploits the idea of modelling private and government consumption as substitutes in private utility. The model offers intuitive predictions on how the effects of fiscal policy depend on the marginal rate of substitution between private and government consumption. The findings illustrate that the higher the substitutability between private and government consumption, (i) the bigger is the crowding out effect on private consumption (ii) and the smaller is the positive effect on output. The welfare analysis shows that the less fiscal policy decreases welfare the higher is the marginal rate of substitution between private and government consumption. The second model of this thesis studies how the macroeconomic effects of fiscal policy depend on the elasticity of substitution between traded and nontraded goods. This model reveals that this elasticity a key variable to explain the exchange rate, current account and output response to a permanent rise in government spending. Finally, the model demonstrates that temporary changes in government spending are an effective stabilization tool when used wisely and timely in response to undesired fluctuations in output. Undesired fluctuations in output can be perfectly offset by an opposite change in government spending without causing any side-effects.

Economics of tourism & growth for small island countries

We theoretically analyze the impact of changes in foreign income from tourism source countries on the growth of tourism dependent small island economies. Using a general theoretical construct, we attempt to answer the question of how price elasticity of demand, income elasticity of tourist and the degree of competition in the service sector influence the economic development of small economies. One of the main results is that politicians may consider applying policies which lead to a competitive environment in the service sector to maximize growth and the consequent labor income share.

A method for separation of stresses in Two- and three-dimensional photoelasticity

A method for separation of stresses in two and three-dimensional photo elasticity using the harmonisation ofjrst stress invariant along a straight section is deve- ,dped. For two-dimensions, the equations of equilibrium are reformulated in terms ojsum and difference of normal stresses and relations are obtained which can be used for harmonisation of the first invariant of stress along a straight section. A similar procedure is adopted for three-dimensions by making use of the Beltrmi-MicheN equations. The new relations are used in finite d~yerencefo rm to evaluate the sum of normal stresses along straight sections in a three-dimensional body. The method requires photoelastic data along the section as well ~rra djacent sections. This method could be used as an alternative to the shear d@erence method for separation of stresses in photoelasticity. 7he accuracy and reliability of the method is ver$ed by applying the method to problems whose solutions are known.

Dielectric properties of Li2O-3B(2)O(3) glasses

The frequency and temperature dependences of the dielectric constant and the electrical conductivity of the transparent glasses in the composition Li2O-3B(2)O(3) were investigated in the 100 Hz-10 MHz frequency range. The dielectric constant and the loss in the low frequency regime were electrode material dependent. Dielectric and electrical relaxations were, respectively, analyzed using the Cole-Cole and electric modulus formalisms. The dielectric relaxation mechanism was discussed in the framework of electrode and charge carrier (hopping of the ions) related polarization using generalized Cole-Cole expression. The frequency dependent electrical conductivity was rationalized using Jonscher's power law. The activation energy associated with the dc conductivity was 0.80 +/- 0.02 eV, which was ascribed to the motion of Li+ ions in the glass matrix. The activation energy associated with dielectric relaxation was almost equal to that of the dc conductivity, indicating that the same species took part in both the processes. Temperature dependent behavior of the frequency exponent (n) suggested that the correlated barrier hopping model was the most apposite to rationalize the electrical transport phenomenon in Li2O-3B(2)O(3) glasses. These glasses on heating at 933 K/10 h resulted in the known nonlinear optical phase LiB3O5.

Atomistic investigation into the mechanical behaviour of crystalline and amorphous TiO2 nanotubes

Titanium dioxide (TiO2) nanotubes are appealing to research communities due to their excellent functional properties. However, there is still a lack of understanding of their mechanical properties. In this work, we conduct molecular dynamics (MD) simulations to investigate the mechanical behaviour of rutile and amorphous TiO2 nanotubes. The results indicate that the rutile TiO2 nanotube has a much higher Young's modulus (∼800 GPa) than the amorphous one (∼400 GPa). Under tensile loading, rutile nanotubes fail in the form of brittle fracture but significant ductility (up to 30%) has been observed in amorphous nanotubes. This is attributed to a unique ‘repairing’ mechanism via bond reconstruction at under-coordinated sites as well as bond conversion at over-coordinated sites. In addition, it is observed that the fracture strength of rutile nanotubes is strongly dependent on their free surfaces. These findings are considered to be useful for development of TiO2 nanostructures with improved mechanical properties.

Possible mechanism of charge transport and dielectric relaxation in SrO-Bi2O3-B2O3 glasses

Transparent SrBi2B2O7 glasses were prepared via melt-quenching technique and characterized using differential scanning calorimetry and x-ray powder diffraction. The ac conductivities of the glasses were studied as a function of frequency (100 Hz-10 MHz) at different temperatures. The frequency dependence of conductivity has been analyzed using Almond-West expression. The exponent n was nearly unaffected by temperature. Impedance and modulus spectroscopies were employed to further examine the electrical data. Dielectric relaxation exhibited a stretched exponential behavior with a stretching exponent beta independent of temperature. From conductivity analysis we have proposed that the charge transport occurs through the participation of nonbridging oxygen (NBO), which switches positions in a facile manner. The stretched exponential behavior appears to be a direct consequence of the NBO switching mechanism of charge transport.

Study of fracture behaviour of bond coats on nickel superalloy by three-point bending of microbeams

A microbeam testing geometry is designed to study the variation in fracture toughness across a compositionally graded NiAl coating on a superalloy substrate. A bi-material analytical model of fracture is used to evaluate toughness by deconvoluting load-displacement data generated in a three-point bending test. It is shown that the surface layers of a diffusion bond coat can be much more brittle than the interior despite the fact that elastic modulus and hardness do not display significant variations. Such a gradient in toughness allows stable crack propagation in a test that would normally lead to unstable fracture in a homogeneous, brittle material. As the crack approaches the interface, plasticity due to the presence of Ni3Al leads to gross bending and crack bifurcation.

Steady mixed convection stagnation-point flow of upper convected Maxwell fluids with magnetic field

The steady MHD mixed convection flow of a viscoelastic fluid in the vicinity of two-dimensional stagnation point with magnetic field has been investigated under the assumption that the fluid obeys the upper-convected Maxwell (UCM) model. Boundary layer theory is used to simplify the equations of motion. induced magnetic field and energy which results in three coupled non-linear ordinary differential equations which are well-posed. These equations have been solved by using finite difference method. The results indicate the reduction in the surface velocity gradient, surface heat transfer and displacement thickness with the increase in the elasticity number. These trends are opposite to those reported in the literature for a second-grade fluid. The surface velocity gradient and heat transfer are enhanced by the magnetic and buoyancy parameters. The surface heat transfer increases with the Prandtl number, but the surface velocity gradient decreases.

Low loss and frequency (1 kHz-1 MHz) independent dielectric characteristics of 3BaO-3TiO(2)-B2O3 glasses

X-ray powder diffraction along with differential thermal analysis carried out on the as-quenched samples in the 3BaO-3TiO(2)-B2O3 system confirmed their amorphous and glassy nature, respectively. The dielectric constants in the 1 kHz-1 MHz frequency range were measured as a function of temperature (323-748 K). The dielectric constant and loss were found to be frequency independent in the 323-473 K temperature range. The temperature coefficient of dielectric constant was estimated using Havinga's formula and found to be 16 ppm K-1. The electrical relaxation was rationalized using the electric modulus formalism. The dielectric constant and loss were 17 +/- 0.5 and 0.005 +/- 0.001, respectively at 323 K in the 1 kHz-1 MHz frequency range which may be of considerable interest to capacitor industry.

Preparation of Y2Si2O7/ ZrO2 composites and their composition - Mechanical properties - Tribology relationships

In this work, novel Y2Si2O7/ZrO 2 composites were developed for structural and coating applications by taking advantage of their unique properties, such as good damage tolerance, tunable mechanical properties, and superior wear resistance. The γ-Y 2Si2O7/ZrO2 composites showed improved mechanical properties compared to the γ-Y2Si 2O7 matrix material, that is, the Young's modulus was enhanced from 155 to 188 GPa (121%) and the flexural strength from 135 to 254 MPa (181%); when the amount of ZrO2 was increased from 0 to 50 vol%, the γ-Y2Si2O7/ZrO2 composites also presented relatively high facture toughness (>1.7 MPa·m 1/2), but this exhibited an inverse relationship with the ZrO 2 content. The composition-mechanical property-tribology relationships of the Y2Si2O7/ZrO2 composites were elucidated. The wear resistance of the composites is not only influenced by the applied load, hardness, strength, toughness, and rigidity but also effectively depends on micromechanical stability properties of the microstructures. The easy growth of subcritical microcracks in Y 2Si2O7 grains and at grain boundaries significantly contributes to the macroscopic fracture toughness, but promotes the pull-out of individual grains, thus resulting in a lack of correlation between the wear rate and the macroscopic fracture toughness of the composites.

Thermal properties of single-phase Y2SiO5

Y2SiO5 is a promising candidate for oxidation-resistant or environmental/thermal barrier coatings (ETBC) due to its excellent high-temperature stability, low elastic modulus and low oxygen permeability. In this paper, we investigated the thermal properties of Y2SiO5 comprehensively, including thermal expansion, thermal diffusivity, heat capacity and thermal conductivity. It is interesting that Y2SiO5 has a very low thermal conductivity (∼1.40 W/m K) but a relatively high linear thermal expansion coefficient ((8.36 ± 0.5) × 10-6 K-1), suggesting compatible thermal and mechanical properties to some non-oxide ceramics and nickel superalloys as ETBC layer. Y2SiO5 is also an ideal EBC on YSZ TBC layer due to their close thermal expansion coefficients. As a continuous source of Y3+, it is predicted that Y2SiO5 EBC may prolong the lifetime of zirconia-based TBC by stopping the degradation aroused by the loss of Y stabilizer.

Mechanical properties and damage tolerance of Y2SiO5

Y2SiO5 has potential applications as functional-structural ceramic and environmental/thermal barrier coating material. As an important grain-boundary phase in the sintered Si3N4, it also influences the mechanical and dielectric performances of the host material. In this paper, we present the mechanical properties of Y2SiO5 including elastic moduli, hardness, strength and fracture toughness, and try to understand the mechanical features from the viewpoint of crystal structure. Y2SiO5 has low shear modulus, low hardness, as well as high capacity for dispersing mechanical damage energy and for resisting crack penetration. Particularly, it can be machined by cemented carbides tools. The crystal structure characteristics of Y2SiO5 suggest the low-energy weakly bonded atomic planes crossed only by the easily breaking Y-O bonds as well as the rotatable rigid SiO4 tetrahedra are the origins of low shear deformation, good damage tolerance and good machinability of this material. TEM observations also demonstrate that the mechanical damage energy was dispersed in the form of the micro-cleavages, stacking faults and twins along these weakly bonded atomic planes, which allows the "microscale-plasticity" for Y2SiO5.

γ-Y2Si2O7, a machinable silicate ceramic: Mechanical properties and machinability

In this paper, the mechanical properties of bulk single-phase γ-Y2Si2O7 ceramic are reported. γ-Y2Si2O7 exhibits low shear modulus, excellent damage tolerance, and thus has a good machinability ready for metal working tools. To understand the underlying mechanism of machinability, drilling test, Hertzian contact test, and density functional theory (DFT) calculation are employed. Hertzian contact test demonstrates that γ-Y2Si2O7 is a "quasi-plastic" ceramic and the intrinsically weak interfaces contribute to its machinability. Crystal structure characteristics and DFT calculations of γ-Y2Si2O7 suggest that some weakly bonded planes, which involve Y-O bonds that can be easily broken, are the sources of the low shear deformation resistance and good machinability.

Elastic Properties of Boron Nitride Nanotubes and Their Comparison with Carbon Nanotubes

Boron Nitride Nanotubes (BNNTs) have alternating boron and nitrogen atoms in graphite like network and are strongly polar in nature due to a large charge on boron and nitrogen atoms. Hence electrostatic interactions are expected to play an important role in determining the elastic properties of BNNTs. In the absence of specific partial atomic charge information for boron and nitrogen, we have studied the elastic properties BNNTs varying the partial atomic charges on boron and nitrogen. We have computed Young modulus (Y) and Shear modulus (G) of BNNT as a function of the tube radius and number of walls using molecular mechanics calculation. Our calculation shows that Young modulus of BNNTs increases with increase in magnitude of the partial atomic charge on B and N and can be larger than the Young modulus of CNTs of same radius. This is in contrast to the earlier finding that CNTs has the largest tensile strength (PRL, 80, 4502, 1998). Shear modulus, on the other hand depends weakly on the magnitude of partial atomic charge and is less than the shear modulus of the CNT. The values obtained for Young modulus and Shear modulus are in excellent agreement with the available experimental results.

Effect of compatibilization on mechanical and thermal properties of polypropylene–soy flour composites

A new biobased composite was developed by adding soy flour (SF) to polypropylene (PP). This composite shows an enhanced tensile strength and modulus but decrease in elongation at break. The compatibilizer (coupling agent) appears to have a synergistic effect on tensile strength. The presence of the compatibilizer improves the dispersion of SF in the PP matrix. The addition of glycerol plasticizer to the composite improves the processability resulting in improved performance, as compared to composites without glycerol plasticizer. The optimal compatibilizer content appears to be 6%.