Greenhouse Gas and Nitrogen Fertilizer Scenarios for U.S. Agriculture and Global Biofuels, June 2011

This analysis uses the 2011 FAPRI-CARD (Food and Agricultural Policy Research Institute–Center for Agricultural and Rural Development) baseline to evaluate the impact of four alternative scenarios on U.S. and world agricultural markets, as well as on world fertilizer use and world agricultural greenhouse gas emissions. A key assumption in the 2011 baseline is that ethanol support policies disappear in 2012. The baseline also assumes that existing biofuel mandates remain in place and are binding. Two of the scenarios are adverse supply shocks, the first being a 10% increase in the price of nitrogen fertilizer in the United States, and the second, a reversion of cropland into forestland. The third scenario examines how lower energy prices would impact world agriculture. The fourth scenario reintroduces biofuel tax credits and duties. Given that the baseline excludes these policies, the fourth scenario is an attempt to understand the impact of these policies under the market conditions that prevail in early 2011. A key to understanding the results of this fourth scenario is that in the absence of tax credits and duties, the mandate drives biofuel use. Therefore, when the tax credits and duties are reintroduced, the impacts are relatively small. In general, the results show that the entire international commodity market system is remarkably robust with respect to policy changes in one country or in one sector. The policy implication is that domestic policy changes implemented by a large agricultural producer like the United States can have fairly significant impacts on the aggregate world commodity markets. A second point that emerges from the results is that the law of unintended consequences is at work in world agriculture. For example, a U.S. nitrogen tax that might presumably be motivated for environmental benefit results in an increase in world greenhouse gas emissions. A similar situation occurs in the afforestation scenario in which crop production shifts from high-yielding land in the United States to low-yielding land and probably native vegetation in the rest of the world, resulting in an unintended increase in global greenhouse gas emissions.

Iowa Research with Chem-Crete Bitumen: Final Report Iowa Highway Research Board Project HR-226, June 1986

With the spiraling cost of construction, coupled with inflation, engineers must develop and research new techniques to better utilize the public's dollar. One area i n which these new technologies must be researched is in the field of highway construction; more specifically, asphalt products. There are areas within the state of Iowa which do not have Class I aggregate readily available for asphalt concrete road construction. The cost of transporting higher quality aggregate specified in the "Standard Specifications for Highway and Bridge construction"' for construction projects is escalating on a yearly basis. Many counties will be squeezed out of the construction of new roadways if an alternative to the high costs is not identified. The same high costs will curtail adequate upkeep on the existing paved system and will result in decreased serviceability. For this reason, a product is needed to better utilize the local aggregates for road construction and maintenance. There i s a product on the market which the promoters claim will improve the prer?nt asphalt to such a degree as to "upgrade deficient aggregates" to the level they can be used in today's standard construction techniques. This product is "Chem-Crete Bitumen," a'kpecially refined asphalt" that was promoted by Chem-Crete Corporation of Menlo Park, California. Chemkrete Technologies, Inc. of Wickliffe, Ohio; a wholly owned subsidiary of the Lubrizol Corporation has since purchased the U.S.

Financial Integration, Trade Openness and International Transmission

[cat] Com afecten l’obertura comercial i financera a la volatilitat macroeconòmica? La literatura existent, tant empírica com teòrica, no ha assolit encara un consens. Aquest article usa un model microfonamentat de dos països simètrics amb entrada endògena d’empreses per estudiar-ho. L’anàlisis es du a terme per tres règims econòmics diferents amb diferents nivells d’integració internacional: una economia tancada, una autarquia financera i una integració plena. Es consideren diversos nivells d’obertura comercial, en forma de biaix domèstic de la demanda i l’economia pot patir pertorbacions en la productivitat del treball i en innovació. El model conclou que la incertesa macroeconòmica, representada principalment per la volatilitat del consum, la producció i la relació real d’intercanvi internacional, depèn del grau d’obertura i del tipus de pertorbació.

Migration Flows and Quality of Life in a Metropolitan Area: the Case of Barcelona-Spain

The phenomenon of human migration is certainly not new and it has been studied from a variety of perspectives. Yet, the attention on human migration and its determinant has not been fading over time as confirmed by recent contributions (see for instance Cushing and Poot 2004 and Rebhun and Raveh 2006). In this paper we combine the recent theoretical contributions by Douglas (1997) and Wall (2001) with the methodological advancements of Guimarães et al. (2000, 2003) to model inter-municipal migration flows in the Barcelona area. In order to do that, we employ two different types of count models, i.e. the Poisson and negative binomial and compare the estimations obtained. Our results show that, even after controlling for the traditional migration factors, QoL (measured with a Composite Index which includes numerous aspects and also using a list of individual variables) is an important determinant of short distance migration movements in the Barcelona area.

Igneous layering, fractional crystallization and growth of granitic plutons: The Dolbel batholith in SW Niger

This study reassesses the development of compositional layering during the growth of granitic plutons, with emphasis on fractional crystallization and its interaction with both injection and inflation-related deformation. The Dolbel batholith (SW Niger) consists of 14, kilometre-sized plutons emplaced by pulsed magma inputs. Each pluton has a coarse-grained core and a peripheral layered series. Rocks consist of albite (An(<= 11)), K-feldspar (Or(96 99), Ab(1) (4)), quartz, edenite (X(Mg)=0337-0.55), augite (X(Mg)=0.65-0.72) and accessories (apatite, titanite and Fe-Ti-oxides). Whole-rock compositions are metaluminous, sodic (K(2)O/Na(2)O=0.49-0.62) and iron-rich [FeO(tot)/(FeO(tot)+MgO)=0.65-0.82]. The layering is present as size-graded and modally graded, sub-vertical, rhythmic units. Each unit is composed of three layers, which are, towards the interior: edenite +/- plagioclase (C(a/p)), edenite+plagioclase+augite+quartz (C(q)), and edenite+plagioclase+augite+quartz+K-feldspar (C(k)). All phases except quartz show zoned microstructures consisting of external intercumulus overgrowths, a central section showing oscillatory zoning and, in the case of amphibole and titanite, complexly zoned cores. Ba and Sr contents of feldspars decrease towards the rims. Plagioclase crystal size distributions are similar in all units, suggesting that each unit experienced a similar thermal history. Edenite, characteristic of the basal C(a/p) layer, is the earliest phase to crystallize. Microtextures and phase diagrams suggest that edenite cores may have been brought up with magma batches at the site of emplacement and mechanically segregated along the crystallized wall, whereas outer zones of the same crystals formed in situ. The subsequent C(q) layers correspond to cotectic compositions in the Qz-Ab-Or phase diagram at P(H2O)=5 kbar. Each rhythmic unit may therefore correspond to a magma batch and their repetition to crystallization of recurrent magma recharges. Microtextures and chemical variations in major phases allow four main crystallization stages to be distinguished: (1) open-system crystallization in a stirred magma during magma emplacement, involving dissolution and overgrowth (core of edenite and titanite crystals); (2) in situ fractional crystallization in boundary layers (C(a/p) and C(q) layers); (3) equilibrium `en masse' eutectic crystallization (C(k) layers); (4) compaction and crystallization of the interstitial liquid in a highly crystallized mush (e. g. feldspar intercumulus overgrowths). It is concluded that the formation of the layered series in the Dolbel plutons corresponds principally to in situ differentiation of successive magma batches. The variable thickness of the Ck layers and the microtextures show that crystallization of a rhythmic unit stops and it is compacted when a new magma batch is injected into the chamber. Therefore, assembly of pulsed magma injections and fractional crystallization are independent, but complementary, processes during pluton construction.

The habenula encodes negative motivational value associated with primary punishment in humans.

Learning what to approach, and what to avoid, involves assigning value to environmental cues that predict positive and negative events. Studies in animals indicate that the lateral habenula encodes the previously learned negative motivational value of stimuli. However, involvement of the habenula in dynamic trial-by-trial aversive learning has not been assessed, and the functional role of this structure in humans remains poorly characterized, in part, due to its small size. Using high-resolution functional neuroimaging and computational modeling of reinforcement learning, we demonstrate positive habenula responses to the dynamically changing values of cues signaling painful electric shocks, which predict behavioral suppression of responses to those cues across individuals. By contrast, negative habenula responses to monetary reward cue values predict behavioral invigoration. Our findings show that the habenula plays a key role in an online aversive learning system and in generating associated motivated behavior in humans.

Recycled Portland Cement Concrete Pavement in Iowa, HR-506, 1984

In recent years, there has been an increased interest in conservation of our resources, preservation of our environment and maintaining our ecology. Recycling of materials is a procedure that will immediately contribute to all of these desirable end results. Our economy is built on private enterprise and profit incentive and in the past, with abundant inexpensive resources, there was little incentive to recycle. Shortages of materials and energy (once considered abundant) along with regulations to protect the environment have emphasized the need for recycling. These environmental conditions coupled with the loss of purchase power by inflation has generated more interest in recycling in the transportation field. The Iowa Department of Transportation (Iowa DOT) is interested in recycling portland cement concrete (pcc) pavement to: 1. Provide aggregate where high quality aggregate is no longer economically available. 2. Eliminate the need for locations to waste the large amount of pavement rubble. 3. Conserve the present aggregate sources. 4. Reduce the need for disrupting land for quarrying purposes. 5. Save fuel and energy by reducing aggregate transportation.

An Optimum Allocation Approach to Closing or Relocating Highway Maintenance Garages in Iowa, 1981

Highway maintenance engineers and administrators are often confronted with a number of problems related to highway maintenance work programs. One of these problems is concerned with determining the optimum number and locations of highway maintenance garages in a given area. Serious decline in highway revenues and a high inflation rate have made it necessary to examine existing maintenance practices and to allocate reduced financial resources more effectively and efficiently. Searching for and providing of reasonable solutions to these problems is the focus of this research project. The methodology used is to identify and modify for use (if necessary) those models which have already been developed. Models which could give optimum number and locations of highway maintenance garages were found to be too theoretical and/or practically infeasible. Consequently, research focus was shifted from these models to other models that could compare alternatives and select the best among these alternatives. Three such models -- the Alabama model, California model, and Louisiana model, were identified and studied.

The Conservativeness of the Central Bank when Institutional Quality is Poor

We propose an extension of Alesina and Tabellini 's model (1987) to include corruption, which is understood as the presence of weak institutions collecting revenue through formal tax channels. This paper analyses how conservative should an independent central bank be when the institutional quality is poor. When there are no political distortions, we show that the central bank has to be more conservative than the government, except with complete corruption. In this particular case, the central bank should be as conservative as the government. Further, we obtain that the relationship between the optimal relative degree of conservativeness of the central bank and the degree of corruption is affected by supply shocks. Concretely, when these shocks are not important, the central bank should be less conservative if the degree of corruption increases. However, this result may not hold when the shocks are relevant. JEL classi fication: D6, D73, E52, E58, E62, E63. Keywords: Central Bank Conservativeness; Corruption; Fiscal Policy; Monetary Policy; Seigniorage.

Essays in equilibrium asset pricing

Introduction This dissertation consists of three essays in equilibrium asset pricing. The first chapter studies the asset pricing implications of a general equilibrium model in which real investment is reversible at a cost. Firms face higher costs in contracting than in expanding their capital stock and decide to invest when their productive capital is scarce relative to the overall capital of the economy. Positive shocks to the capital of the firm increase the size of the firm and reduce the value of growth options. As a result, the firm is burdened with more unproductive capital and its value lowers with respect to the accumulated capital. The optimal consumption policy alters the optimal allocation of resources and affects firm's value, generating mean-reverting dynamics for the M/B ratios. The model (1) captures convergence of price-to-book ratios -negative for growth stocks and positive for value stocks - (firm migration), (2) generates deviations from the classic CAPM in line with the cross-sectional variation in expected stock returns and (3) generates a non-monotone relationship between Tobin's q and conditional volatility consistent with the empirical evidence. The second chapter proposes a standard portfolio-choice problem with transaction costs and mean reversion in expected returns. In the presence of transactions costs, no matter how small, arbitrage activity does not necessarily render equal all riskless rates of return. When two such rates follow stochastic processes, it is not optimal immediately to arbitrage out any discrepancy that arises between them. The reason is that immediate arbitrage would induce a definite expenditure of transactions costs whereas, without arbitrage intervention, there exists some, perhaps sufficient, probability that these two interest rates will come back together without any costs having been incurred. Hence, one can surmise that at equilibrium the financial market will permit the coexistence of two riskless rates that are not equal to each other. For analogous reasons, randomly fluctuating expected rates of return on risky assets will be allowed to differ even after correction for risk, leading to important violations of the Capital Asset Pricing Model. The combination of randomness in expected rates of return and proportional transactions costs is a serious blow to existing frictionless pricing models. Finally, in the last chapter I propose a two-countries two-goods general equilibrium economy with uncertainty about the fundamentals' growth rates to study the joint behavior of equity volatilities and correlation at the business cycle frequency. I assume that dividend growth rates jump from one state to other, while countries' switches are possibly correlated. The model is solved in closed-form and the analytical expressions for stock prices are reported. When calibrated to the empirical data of United States and United Kingdom, the results show that, given the existing degree of synchronization across these business cycles, the model captures quite well the historical patterns of stock return volatilities. Moreover, I can explain the time behavior of the correlation, but exclusively under the assumption of a global business cycle.

Issue review : tuition at Iowa Regents universities.

Examination of the growth in tuition at Iowa Regents universities with comparisons to inflation, funding sources, peer institutions, and relative to household income.

Issue review : IPERS retirement dividend payments.

The Iowa Public Employees' Retirement System, or IPERS, does not apply a traditional cost-of-living adjustment for retirement benefits. A retiree's monthly benefit payment is determined by a formula at the time of retirement and the amount does not change. Instead of adjusting the monthly benefit for inflation, the General Assembly creates two separate once-a-year payments for retirees, the November dividend for pre-1990 retirees and the favorable experience dividend, or FED for 1990 and later retirees. Available funding for the FED is estimated to be depleted within the next three years.

Evaluation of a Mobile Rut Depth Device for the Pavement Management Program, HR-248, 1984

With inflation, there is no longer a completely adequate budget for highway construction and maintenance. Restricted budgets have generated development and implementation of pavement management programs. A need for management guidelines generated National Cooperative Highway Research Program Synthesis of Highway Practice 84, "Evaluation Criteria and Priority Setting for State Highway Programs". Traffic volumes and present conditions are two major factors in determining the priority of a proposed highway improvement. The Iowa DOT, Highway Division, Office of Materials has been conducting pavement condition inventory surveys on a three-year frequency since 1969 as input for pavement management. Development of substantial wheel rutting on paved roadways results in a potential hazard to highway safety. During periods of rain, these water-filled ruts may cause hydroplaning and loss of vehicle control. It is, therefore, imparitive that Iowa roadways be continually monitored for rut depths and further that this data be used in a pavement management program to determine priorities for rehabilitation or resurfacing.

Brachial or wrist blood pressure in obese patients : which is the best ?

RESUME L'obésité et l'hypertension atteignent des niveaux épidémiques aussi bien dans les pays industrialisés que dans ceux en voie de développement. La coexistence de ces deux pathologies est associée à un risque cardiovasculaire augmenté. Traditionnellement on mesure la pression artérielle (PA) au bras au moyen d'un brassard qui détermine la pression systolique et diastolique en utilisant soit la méthode auscultatoire ou oscillométrique. L'utilisation d'un brassard de taille standard chez le patient avec un tour de bras augmenté peut surestimer la pression artérielle. Il semble même qu'il existe un rapport idéal entre le tour de bras, et la taille du brassard La mesure à domicile de la pression artérielle avec des appareils validés donne des valeurs de la PA valables. Plusieurs appareils existent sur le marché et depuis quelques années les appareils de mesure de la PA au poignet font leur apparition sur le marché. Cette étude vise à comparer chez des sujets sains et obèses les valeurs de PA obtenues au poignet avec celles obtenues au bras en utilisant deux appareils validés l'OMRON HEM 705-CP et l'OMRON R6. L'OMRON HEM 705-CP permet l'utilisation soit d'un brassard standard (13x30 cm) ou d'un brassard large (16x38 cm), et l'OMRON R6 mesure la PA au poignet. Nous avons comparé un groupe de sujets obèses [Body Mass Index (BMI) >35kg/m2] avec un groupe de sujets sains (BMI <25kg/m2). Ont été exclues de l'étudé les personnes prenant un traitement antihypertenseur ainsi que celles souffrant d'arythmies. La PA a été mesurée en position assise avec le bras gauche sur une table à hauteur du coeur. Un brassard large a été employé pour les sujets obèses et un brassard standard pour les sujets sains. Trois mesures ont été effectuées, la première après une pause de 5 min et chacune des suivantes avec un intervalle de 2 min. La pression d'inflation maximale a été fixée à 170 mmHg. Nous avons utilisé la formule proposée par Marks LA et al pour déterminer si le rapport entre la taille des brassards fournis avec l'OMRON .HEM 705-CP et le tour de bras de nos sujets était optimal (taille du brassard = 9.34 x log10 taille du bras). Nos résultats ne montrent pas de différence statistiquement significative de la PA diastolique entre les deux groupes, qu'elle soit mesurée au bras ou au poignet. La PA systolique mesurée au bras s'est par contre avérée significativement plus basse chez les sujets obèses que chez les sujets sains. Aucune différence n'a été trouvée lorsque la mesure est effectuée au poignet. En utilisant la formule fournie par Marks le rapport entre taille du brassard (large chez les obèses) et tour de bras a été de 10.30±30 chez les sujets obèses et 9.630.45 chez les sujets sains (p<0.001). Le rapport entre tour de bras et brassard chez les sujets obèses est nettement au-dessus de la valeur optimale, ce qui suggère une possible sous-estimation de la PA systolique chez ces sujets. Ces résultats suggèrent qu'il existe un risque de sous-estimer la PA chez le patient obèse lors de l'utilisation d'un brassard large. Cette erreur pourrait être réduite par l'utilisation d'appareils de mesure au poignet. validés chez le sujet obèse.

Défibrillateur automatique implantable (DAI): principes de base et indications cliniques actuelles [Implantable cardiac defibrillator (ICD): basics and present clinical guidelines].

An implantable cardiac defibrillator (ICD) is a cardiac implantable electronic device that is capable of identifying and treating ventricular arrhythmias. Consideration about the type of ICD to select for a given patient include whether the patient has bradycardia requiring pacing support, has associated atrial tachyarrhythmias, or would benefit from cardiac resynchronization therapy. The ICD functions by continuously monitoring the patient's cardiac rate and delivering therapies (anti-tachycardia pacing, shocks) when the rate exceeds the programmed rate "cutoff". Secondary prevention trials have demonstrated that ICDs reduce the incidence of arrhythmic death and total mortality in patients presenting with a cardiac arrest. ICDs are also indicated for primary prevention of sudden cardiac death in specific high-risk subgroups of patients.