Seawater carbonate chemistry and reproductive properties of the benthic copepod Tigriopus japonicus and gastropod Babylonia japonica in a laboratory experiment

We investigated the effects of elevated pCO2 in seawater both on the acute mortality and the reproductive properties of the benthic copepod Tigriopus japonicus and gastropod Babylonia japonica with the purpose of accumulating basic data for assessing potential environmental impacts of sub-sea geological storage of anthropogenic CO2 in Japan. Acute tests showed that nauplii of T. japonicus have a high tolerance to elevated pCO2 environments. Full life cycle tests on T. japonicus indicated NOEC = 5800 µatm and LOEC = 37,000 µatm. Adult B. japonica showed remarkable resistance to elevated pCO2 in the acute tests. Embryonic development of B. japonica showed a NOEC = 1500 µatm and LOEC = 5400 µatm. T. japonicus showed high resistance to elevated pCO2 throughout the life cycle and B. japonica are rather sensitive during the veliger stage when they started to form their shells.

Seawater carbonate chemistry and biological processes duirng experiments with bryozoan Myriapora truncata, 2010

There are serious concerns that ocean acidification will combine with the effects of global warming to cause major shifts in marine ecosystems, but there is a lack of field data on the combined ecological effects of these changes due to the difficulty of creating large-scale, long-term exposures to elevated CO2 and temperature. Here we report the first coastal transplant experiment designed to investigate the effects of naturally acidified seawater on the rates of net calcification and dissolution of the branched calcitic bryozoan Myriapora truncata (Pallas, 1766). Colonies were transplanted to normal (pH 8.1), high (mean pH 7.66, minimum value 7.33) and extremely high CO2 conditions (mean pH 7.43, minimum value 6.83) at gas vents off Ischia Island (Tyrrhenian Sea, Italy). The net calcification rates of live colonies and the dissolution rates of dead colonies were estimated by weighing after 45 days (May-June 2008) and after 128 days (July-October) to examine the hypothesis that high CO2 levels affect bryozoan growth and survival differently during moderate and warm water conditions. In the first observation period, seawater temperatures ranged from 19 to 24 °C; dead M. truncata colonies dissolved at high CO2 levels (pH 7.66), whereas live specimens maintained the same net calcification rate as those growing at normal pH. In extremely high CO2 conditions (mean pH 7.43), the live bryozoans calcified significantly less than those at normal pH. Therefore, established colonies of M. truncata seem well able to withstand the levels of ocean acidification predicted in the next 200 years, possibly because the soft tissues protect the skeleton from an external decrease in pH. However, during the second period of observation a prolonged period of high seawater temperatures (25-28 °C) halted calcification both in controls and at high CO2, and all transplants died when high temperatures were combined with extremely high CO2 levels. Clearly, attempts to predict the future response of organisms to ocean acidification need to consider the effects of concurrent changes such as the Mediterranean trend for increased summer temperatures in surface waters. Although M. truncata was resilient to short-term exposure to high levels of ocean acidification at normal temperatures, our field transplants showed that its ability to calcify at higher temperatures was compromised, adding it to the growing list of species now potentially threatened by global warming.

Seawater carbonate chemistry and calcification during experiments with corals, 2003

Biogenic calcification is influenced by the concentration of available carbonate ions. The recent confirmation of this for hermatypic corals has raised concern over the future of coral reefs because [CO3] is a decreasing function of increasing pCO2 in the atmosphere. As one of the overriding features of coral reefs is their diversity, understanding the degree of variability between species in their ability to cope with a change in [CO3] is a priority. We cultured four phylogenetically and physiologically different species of hermatypic coral (Acropora verweyi, Galaxea fascicularis, Pavona cactus and Turbinaria reniformis) under 'normal' (280 µmol/kg) and 'low' (140 µmol/kg) carbonate-ion concentrations. The effect on skeletogenesis was investigated quantitatively (by calcification rate) and qualitatively (by microstructural appearance of growing crystalline fibres using scanning electron microscopy (SEM)). The 'low carbonate' treatment resulted in a significant suppression of calcification rate and a tendency for weaker crystallization at the distal tips of fibres. However, while the calcification rate was affected uniformly across species (13-18% reduction), the magnitude of the microstructural response was highly species specific: crystallization was most markedly affected in A. verweyi and least in T. reniformis. These results are discussed in relation to past records and future predictions of carbonate variability in the oceans.

Reduced calcification decreases photoprotective capability in the Coccolithophorid Emiliania huxleyi

Intracellular calcification of coccolithophores generates CO2 and consumes additional energy for acquisition of calcium and bicarbonate ions; therefore, it may correlate with photoprotective processes by influencing the energetics. To address this hypothesis, a calcifying Emiliania huxleyi strain (CS-369) was grown semi-continuously at reduced (0.1 mM, LCa) and ambient Ca2+ concentrations (10 mM, HCa) for 150 d (>200 generations). The HCa-grown cells had higher photosynthetic and calcification rates and higher contents of Chl a and carotenoids compared with the naked (bearing no coccoliths) LCa-grown cells. When exposed to stressfull levels of photosynthetically active radiation (PAR), LCa-grown cells displayed lower photochemical yield and less efficient non-photochemical quenching (NPQ). When the LCa- or HCa-grown cells were inversely shifted to their counterpart medium, LCa to HCa transfer increased photosynthetic carbon fixation (P), calcification rate (C), the C/P ratio, NPQ and pigment contents, whereas those shifted from HCa to LCa exhibited the opposite effects. Increased NPQ, carotenoids and quantum yield were clearly linked with increased or sustained calcification in E. huxleyi. The calcification must have played a role in dissipating excessive energy or as an additional drainage of electrons absorbed by the photosynthetic antennae. This phenomenon was further supported by testing two non-calcifying strains, which showed insignificant changes in photosynthetic carbon fixation and NPQ when transferred to LCa conditions

Interactive effects of ocean acidification and neighboring corals on the growth of Pocillopora verrucosa

The physical and chemical environment around corals, as well as their physiology, can be affected by interactions with neighboring corals. This study employed small colonies (4 cm diameter) of Pocillopora verrucosa and Acropora hyacinthus configured in spatial arrays at 7 cm/s flow speed to test the hypothesis that ocean acidification (OA) alters interactions among them. Interaction effects were quantified for P. verrucosa using three measures of growth: calcification (i.e., weight), horizontal growth, and vertical growth. The study was carried out in May-June 2014 using corals from 10 m depth on the outer reef of Moorea, French Polynesia. Colonies of P. verrucosa were placed next to conspecifics or heterospecifics (A. hyacinthus) in arrangements of two or four colonies (pairs and aggregates) that were incubated at ambient and high pCO2 (1000 µatm) for 28 days. There was an effect of pCO2, and arrangement type on multivariate growth (utilizing the three measures of growth), but no interaction between the main effects. Conversely, arrangement and pCO2 had an interactive effect on calcification, with an overall 23 % depression at high pCO2 versus ambient pCO2 (i.e., pooled among arrangements). Within arrangements, there was a 34-45 % decrease in calcification for solitary and paired conspecifics, but no effect in conspecific aggregates, heterospecific pairs, or heterospecific aggregates. Horizontal growth was negatively affected by pCO2 and arrangement type, while vertical growth was positively affected by arrangement type. Together, our results show that conspecific aggregations can mitigate the negative effects of OA on calcification of colonies within an aggregation.

International Capital Flows and Monetary Policy Spillovers

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.

The Interaction Between Monetary and Fiscal Policies (Working Paper 30)

One can view the period since 1970 as one in which the authorities struggled to establish appropriate medium-term anchors for both monetary and fiscal policies. During this time, they learned about the appropriate interaction between those two policies in the context of economic stabilization and growth under a flexible exchange rate regime. This lecture deals with four interrelated topics: the appropriate goals for fiscal and monetary policy, building policy credibility, the appropriate stabilization role for the two policies, and policy cooperation. The transparent medium term frameworks that have been established by the authorities will be extremely helpful in meeting the challenges that the future is sure to bring. These frameworks mean that the required adjustments in the economy will take place against a relatively stable background. Thank you for the invitation to give the Gow Lecture for 2002. Donald Gow had a great interest in public administration and in budgetary reform in the federal government (Gow 1973). He was one in a long line of

The expansion of soybean cultivation in Campeche, México: Problematic and perspectives

The soybean is the grain in which greater food dependency has Mexico, reason why as of 2008, the government has promoted his culture, granting excellent subsidies, as much to producers as to buyers of the grain, thus contributing to a recent process of expansion in certain states, as it happens in Campeche. The objetive of this article is the analysis of the characteristics and effects of those supports, as well as of the rest of factors that until today they have taken to the producers of the mentioned state to initiate or to expand the cultivation of the soybean. The findings of the investigation reveal that although the producers have improved their levels of income, the process is vulnerable, as it depends on variables like the governmental supports, the international prices of the soybean and exchange rate. Although the study of the negative effects of genetically modified soybeans (GM) in other areas (environment, biodiversity, deforestation, human and animal health) is not the purpose of this investigation, some information will be provided, as on the conflict between soybean producers and beekeepers in the state of Campeche.

Finite Element Simulations of stretch-blow moulding with experimental validation over a broad process window

Injection stretch blow moulding is a well-established method of forming thin-walled containers and has been extensively researched for numerous years. This paper is concerned with validating the finite element analysis of the free-stretch-blow process in an effort to progress the development of injection stretch blow moulding of poly(ethylene terephthalate). Extensive data was obtained experimentally over a wide process window accounting for material temperature and air flow rate, while capturing cavity pressure, stretch-rod reaction force and preform surface strain. This data was then used to assess the accuracy of the correlating FE simulation constructed using ABAQUS/Explicit solver and an appropriate viscoelastic material subroutine. Results reveal that the simulation is able to give good quantitative correlation for conditions where the deformation was predominantly equal biaxial whilst qualitative correlation was achievable when the mode of deformation was predominantly sequential biaxial. Overall the simulation was able to pick up the general trends of how the pressure, reaction force, strain rate and strain vary with the variation in preform temperature and air flow rate. The knowledge gained from these analyses provides insight into the mechanisms of bottle formation, subsequently improving the blow moulding simulation and allowing for reduction in future development costs.

Price transmission dynamics between ADRs and their underlying foreign security: The case of Banco de Colombia S.A.- Bancolombia.

This paper analyzes the dynamics ofthe American Depositary Receipt (ADR) of a Colombian bank (Bancolombia) in relation to its pricing factors (underlying (preferred) shares price, exchange rate and the US market index). The aim is to test if there is a long-term relation among these variables that would imply predictability. One cointegrating relation is found allowing the use of a vector error correction model to examine the transmission of shocks to the underlying prices, the exchange rate, and the US market index. The main finding of this paper is that in the short run, the underlying share price seems to adjust after changes in the ADR price, pointing to the fact that the NYSE (trading market for the ADR) leads the Colombian market. However, in the long run, both, the underlying share price and the ADR price, adjust to changes in one another.

Análise de métodos para aplicação de ventilação natural em projetos de edificações em Natal-RN

Natural ventilation is an efficient bioclimatic strategy, one that provides thermal comfort, healthful and cooling to the edification. However, the disregard for quality environment, the uncertainties involved in the phenomenon and the popularization of artificial climate systems are held as an excuse for those who neglect the benefits of passive cooling. The unfamiliarity with the concept may be lessened if ventilation is observed in every step of the project, especially in the initial phase in which decisions bear a great impact in the construction process. The tools available in order to quantify the impact of projected decisions consist basically of the renovation rate calculations or computer simulations of fluids, commonly dubbed CFD, which stands for Computational Fluid Dynamics , both somewhat apart from the project s execution and unable to adapt for use in parametric studies. Thus, we chose to verify, through computer simulation, the representativeness of the results with a method of simplified air reconditioning rate calculation, as well as making it more compatible with the questions relevant to the first phases of the project s process. The case object consists of a model resulting from the recommendations of the Código de Obras de Natal/ RN, customized according to the NBR 15220. The study has shown the complexity in aggregating a CFD tool to the process and the need for a method capable of generating data at the compatible rate to the flow of ideas and are discarded during the project s development. At the end of our study, we discuss the necessary concessions for the realization of simulations, the applicability and the limitations of both the tools used and the method adopted, as well as the representativeness of the results obtained

Dette publique, développement monétaire international et demande de monnaie : une analyse à partir des tests de cointégration et du modèle à correction d'erreurs

Résumé : Ce document examine l'effet de la dette publique et du développement monétaire étranger (taux de change et taux d'intérêt étranger) sur la demande de monnaie de long-terme. Le déficit budgétaire est utilisé comme mesure de la dette publique. Cette étude est menée sur cinq pays industrialisés: le Canada, les États-Unis, l'Allemagne, le Royaume-Uni et la France. Le modèle multivarié de cointégration de Johansen & Juselius (1990) est utilisé pour établir le lien entre ces trois variables et la demande de monnaie. Ce modèle examine indirectement deux effets: les effets du déficit budgétaire sur le taux d'intérêt et du développement monétaire étranger sur le taux d'intérêt, à travers la demande de monnaie. L'évidence d'une relation de cointégration entre la demande de monnaie et les dites variables est vérifiée pour la plupart de ces pays. Le test d'exclusion des variables de la relation de long-terme nous révèle que toutes ces variables entrent de façon significative dans la relation de cointégration. Ces résultats suggèrent donc aux autorités monétaires, l'importance de tenir compte à la fois du déficit bugétaire et du développement monétaire étranger dans la formulation de la politique monétaire.||Abstract : This paper examines the impact of both public debt and foreign monetary developments (exchange rate and interest rate) on the long-run money demand. The budget déficit is used as a measure of public debt. Five industrial countries are considered, Canada, the United States, Germany, the United Kingdom and France. The multivariate cointegration model of Johansen & Juselius (1990) is used to establish the relationship between this tree variables and the money demand. This model indirectly examines two effects, the effect of budget déficits on interest rates and the effect of foreign monetary developments on the interest rates, both through money demand. Evidence of long-run relationship between the money demand and the defined variables are found for almost every country. The long-run exclusion test shows that ail these variables significantly enter into the cointegration relation. This suggests that, in formulating monetary policies, policy makers should take into account the influence of both budget déficit and foreign monetary developments on the money demand.

Devaluation, competitiveness and new business formation in emerging countries

In September 2010, Brazil’s Finance Minister, Guido Mantega, used the term “currency war” with reference to monetary policies implemented by different countries to generate an artificial devaluation of their currency and achieve a cheaper, more competitive domestic economy that may be attractive to foreign investors. Similar cases have been documented since the 1930s Great Depression, when several countries abandoned the gold standard as backing for their currencies. More recently, a large-scale asset purchase by Japan’s Central Bank in 2013 was singled out as a strategy aimed at generating devaluation of the yen. This research uses statistics of new business formation density reported by Doing Business for 30 emerging countries in the period 2004-2011 to evaluate the impact of devaluation measured by the behavior of the real effective exchange rate (REER) on the rate of new business formation (NBF). It is determined how variables associated with competitiveness affect the relationship between devaluation and business formation. Results show that devaluation has a positive effect on NBF in the short term, which gets diluted in the long term. Countries with greater competitiveness have less dependence on devaluation to increase the number of businesses.

Generation of a business plan for a logistics service provider

The purpose of this Master’s Thesis was to study the suitability of transportation of liquid wastes to the portfolio of the case company. After the preliminary study the waste types were narrowed down to waste oil and oily waste from ports. The thesis was executed by generating a business plan. The qualitative research of this Master’s Thesis was executed as a case study by collecting information from multiple sources. The business plan was carried out by first familiarizing oneself with literature related to business planning which was then used as a base for the interview of the customer and interviews of the personnel of the case company. Additionally, internet sources and informal conversational interviews with the personnel of the case company were used and these interviews took place during the preliminary study and this thesis. The results of this thesis describe the requirements for the case company that must be met to be able to start operations. Import of waste oil fits perfectly to the portfolio of the case company and it doesn’t require any big investments. Success of the import of waste oil is affected by price of crude oil, exchange rate of ruble and legislation among others. Transportation of oily waste from ports, in turn, is not a core competence of the case company so more actions are required to start operating such as subcontracting with a waste management company.

Postharvest treatment effects on 'B74' mango fruit lenticel discolouration after irradiation

Lenticel discolouration (LD) is a common disorder of mango fruit around the world. It results in poor appearance and disappointment of consumers. LD is exacerbated by treatment of mango fruit with gamma irradiation for insect disinfestation. The issue is problematic on the relatively new mango cultivar 'B74' and may represent an oxidative browning process. With a view to reducing irradiationinduced LD on 'B74', postharvest wax (one and three layers; 75% carnauba wax) and antioxidant (100 mM ascorbic acid, 100 mM calcium chloride, 10, 50 and 100 mM calcium ascorbate) dip treatments were investigated. Treatment of green mature fruit with three layers of wax prior to exposure to 557 Gy gamma irradiation reduced LD by 40% relative to the non-waxed control. However, the fruit failed to ripen properly as evidenced by delayed skin colour change, retarded softening and increased skin browning as compared to the controls and fruit coated with one layer of wax. Treatment with one layer of wax did not reduce LD. Mechanistically, the responses suggest that air exchange plays a pivotal role in LD. A lowered oxygen concentration in the lenticels may reduce the disorder after irradiation treatment. Postharvest treatments with the various antioxidants failed to reduce LD. Rather, all antioxidant treatments at the test concentrations, except calcium chloride, significantly increased skin browning.