Effect of feed temperature and membrane orientation on pre-treatment sludge volume reduction through forward osmosis

This study focuses on volume reduction of pre-treatment sludge as well as on dilution of reverse osmosis (RO) concentrate through emerging forward osmosis (FO) technology where RO concentrate draws water from the pre-treatment sludge (feed solution) in order to reduce pre-treatment sludge volume and increase the RO water recovery. Experiments were carried out using two different types of sludge i.e. (1) synthetic pre-treatment sludge (Lab sludge) which has lower salinity and (2) actual sludge from Perth Seawater Desalination Plant, Australia (Perth Seawater Desalination Plant (PSDP) sludge) which has higher salinity. Effect of membrane orientation (FO and pressure-retarded osmosis (PRO) modes) and temperature of pre-treatment sludge on permeate water flux was investigated. There was a significant increase in water flux from 3.2 to 10.2 LMH (i.e. ~3 times higher) when temperature increased from 20 to 40°C for Lab sludge in PRO mode. However, there is no significant effect of temperature on water flux in FO mode for Lab sludge. On the contrary for PSPD sludge, there was no effect on water flux with increase in temperature at PRO mode. Dissolved ions in the porous side increased the severity of concentrative internal concentration polarization; hence, it could reduce the flux. There was no significant change in water flux when temperature increased from 20 to 40°C for PSDP sludge in FO mode. However, higher amount of water has permeated from Lab sludge compared to PSDP sludge in FO mode. © 2014 © 2014 Balaban Desalination Publications. All rights reserved.

Effect of multiple cations in the feed solution on the performance of forward osmosis

In this study, different combinations of feed stream such as 0.2, 0.3 and 0.4 M of CaCl2 were, respectively, added with 1.0, 0.9 and 0.8 M of NaCl while maintaining the draw solution concentration at either 2.0 M of NaCl or CaCl2 in order to compare likely changes to the flux generated when the feed stream contained NaCl only. The results obtained showed that more constituents in feed stream generated lesser flux. Increase in CaCl2 concentration in feed stream resulted in more severe dilutive internal concentration polarisation (DICP) and hence, reduction in the performance ratio. The temperature and distribution of aggregated particle size also played a significant role in the overall performance of forward osmosis process. Further analysis showed that there is a relationship between the normalised driving force and flux behaviour which is governed by the effect of DICP. Additionally, the reflection coefficient was not unity as less than 2% traces of salt was found to permeate alongside with water towards the draw solution side. © 2014 © 2014 Balaban Desalination Publications. All rights reserved.

Comparison between nanofiltration and forward osmosis in the treatment of dye solutions

Colour removal and the flux behaviour of nanofiltration (NF-DOW FILMTEC-NF245) and forward osmosis (FO-a flat sheet cellulose triacetate membrane with a woven embedded backing support) membranes were investigated in this study. The NF membrane was employed to perform dye removal experiments with aqueous solutions containing 15 g/L of NaCl and different concentrations of Acid Green 25, Remazol Brilliant Orange FR and Remazol Blue BR dyes. The increase in dye concentration resulted in a decline in water permeability and an increase in colour removal. When the concentrations of dye solutions varied from 250 to 1000 mg/L, at 0.8 bar of trans-membrane pressure, the NF system exhibited a steady permeate flux of more 30 L/m2h and a colour removal of more than 99%; salt rejection was more than 20.0%. Furthermore, the FO system possessed high dye rejection efficiency (almost 100%), with low permeate flux of around 2.0 L/m2h, when using dye solutions as feed streams and seawater as draw stream. The mode of operation (either FO or pressure retarded osmosis (PRO) did not change the flux significantly but PRO mode always produced higher fluxes than FO mode under the operating conditions used in this study. While both NF and FO can be used to reduce the volume of effluent containing dyes from textile industries, the energy spent in NF on applied pressure can be substituted by the osmotic pressure of draw solution in FO when concentrated draw solutions such as sea water or reverse osmosis concentrate are readily available.

Does data frequency matter for the impact of forward premium on spot exchange rate?

In this paper we take the forward premium and exchange rate literature forward by asking whether data frequency matters in that relationship. We use four frequencies of data, namely, quarterly, monthly, weekly and daily. We find that data frequencies matter both statistically and economically. More specifically, we document that investors prefer the forward premium model over a constant returns model in most countries when models are estimated using daily, weekly, and quarterly data, but not when using monthly data.

Estimating Forward Pricing Function: How Efficient is Indian Stock Index Futures Market?

This paper uses Indian stock futures data to explore unbiased expectations and efficient market hypothesis. Having experienced voluminous transactions within a short time span after its establishment, the Indian stock futures market provides an unparalleled case for exploring these issues involving expectation and efficiency. Besides analyzing market efficiency between cash and futures prices using cointegration and error correction frameworks, the efficiency hypothesis is also investigated after explicitly modeling the underlying state of the market (expansion or contraction) through the first-order Markov switching set-up. The results based on Markov switching analysis show that relatively longer time horizon is more effective in eliminating arbitrage opportunities than the short run.

Estimating cointegrated panels with common factors and the forward rate unbiasedness hypothesis

This article proposes a bias-adjusted estimator for use in cointegrated panel regressions when the errors are cross-sectionally correlated through an unknown common factor structure. The asymptotic distribution of the new estimator is derived and is examined in small samples using Monte Carlo simulations. For the estimation of the number of factors, several information-based criteria are considered. The simulation results suggest that the new estimator performs well in comparison to existing ones. In our empirical application, we provide new evidence suggesting that the forward rate unbiasedness hypothesis cannot be rejected. © The Author 2007.

Making robust policy decisions using global biodiversity indicators

In order to influence global policy effectively, conservation scientists need to be able to provide robust predictions of the impact of alternative policies on biodiversity and measure progress towards goals using reliable indicators. We present a framework for using biodiversity indicators predictively to inform policy choices at a global level. The approach is illustrated with two case studies in which we project forwards the impacts of feasible policies on trends in biodiversity and in relevant indicators. The policies are based on targets agreed at the Convention on Biological Diversity (CBD) meeting in Nagoya in October 2010. The first case study compares protected area policies for African mammals, assessed using the Red List Index; the second example uses the Living Planet Index to assess the impact of a complete halt, versus a reduction, in bottom trawling. In the protected areas example, we find that the indicator can aid in decision-making because it is able to differentiate between the impacts of the different policies. In the bottom trawling example, the indicator exhibits some counter-intuitive behaviour, due to over-representation of some taxonomic and functional groups in the indicator, and contrasting impacts of the policies on different groups caused by trophic interactions. Our results support the need for further research on how to use predictive models and indicators to credibly track trends and inform policy. To be useful and relevant, scientists must make testable predictions about the impact of global policy on biodiversity to ensure that targets such as those set at Nagoya catalyse effective and measurable change.

Global biodiversity indicators reflect the modeled impacts of protected area policy change

Global biodiversity indicators can be used to measure the status and trends of biodiversity relating to Convention on Biological Diversity (CBD) targets. Whether such indicators can support decision makers by distinguishing among policy options remains poorly evaluated. We tested the ability of two CBD indicators, the Living Planet Index and the Red List Index, to reflect projected changes in mammalian populations in sub-Saharan Africa in response to potential policies related to CBD targets for protected areas (PAs). We compared policy scenarios to expand the PA network, improve management effectiveness of the existing network, and combinations of the two, against business as usual. Both indicators showed that more effective management would provide greater benefits to biodiversity than expanding PAs alone. The indicators were able to communicate outcomes of modeled scenarios in a simple quantitative manner, but behaved differently. This work highlights both the considerable potential of indicators in supporting decisions, and the need to understand how indicators will respond as biodiversity changes.

Cost-effective authentic and anonymous data sharing with forward security

Data sharing has never been easier with the advances of cloud computing, and an accurate analysis on the shared data provides an array of benefits to both the society and individuals. Data sharing with a large number of participants must take into account several issues, including efficiency, data integrity and privacy of data owner. Ring signature is a promising candidate to construct an anonymous and authentic data sharing system. It allows a data owner to anonymously authenticate his data which can be put into the cloud for storage or analysis purpose. Yet the costly certificate verification in the traditional public key infrastructure (PKI) setting becomes a bottleneck for this solution to be scalable. Identity-based (ID-based) ring signature, which eliminates the process of certificate verification, can be used instead. In this paper, we further enhance the security of ID-based ring signature by providing forward security: If a secret key of any user has been compromised, all previous generated signatures that include this user still remain valid. This property is especially important to any large scale data sharing system, as it is impossible to ask all data owners to re-authenticate their data even if a secret key of one single user has been compromised. We provide a concrete and efficient instantiation of our scheme, prove its security and provide an implementation to show its practicality.

The forward- and the equity-premium puzzles: two symptoms of the same illness?

In this paper we revisit the relationship between the equity and the forward premium puzzles. We construct return-based stochastic discount factors under very mild assumptions and check whether they price correctly the equity and the foreign currency risk premia. We avoid log-linearizations by using moments restrictions associated with euler equations to test the capacity of our return-based stochastic discount factors to price returns on the relevant assets. Our main finding is that a pricing kernel constructed only using information on American domestic assets accounts for both domestic and international stylized facts that escape consumption based models. In particular, we fail to reject the null hypothesis that the foreign currency risk premium has zero price when the instrument is the own current value of the forward premium.

Essays on the relationship between the equity and the forward premium puzzles

Our research agenda consists in showing this strong relation between these puzzles based on evidences that both empirical failures are related to the incapacity of the canonical CCAPM to provide a high volatile intertemporal marginal rate of substitution with reasonable values for the preferences parameters.