The role of the terms of trade in the trade channel of transmission of oil price shocks

This paper highlights the role of the terms of trade in the trade channel of propagation of oil price shocks both empirically and theoretically. Empirically, I show that oil price shocks have a large, persistent and statistically significant impact on the US terms of trade. Theoretically, I add oil in the model by Corsetti and Pesenti (2005) and analyse under what conditions the terms of trade plays a relevant role in the international transmission of oil price shocks. With nominal price rigidities and full exchange rate pass-through positive oil price shocks depreciate the currency of the oil importing country. The subsequent negative wealth effect adds to the recessive effect of the supply channel and may trongly reduce the consumption in the oil importing country economy. Without exchange rate pass-through oil shocks transmit to the economy only through the supply channel. The model suggests that a change in the exchange rate pass-through might contribute to explain the evidence of a weaker impact of oil price shocks on the macroeconomic activity in recent times.

Background paper on the international seafood trade and poverty

(121 p.)

FFA Fisheries Trade Briefing, Vol. 1, Issue 8 & 9, pp. 1-12, July-August 2008

Contents: Fisheries Subsidies. Status of fisheries subsidies talks at the WTO. Preferential Free Trade Agreements. Collapse of Doha Round results in rise of FTAs Update on EU Generalised System of Preferences regime Fisheries Trade-related Regulation. Soltai encounters quality problems. Update on Fiji seafood export ban to the EU. EU sanitary inspections in other developing countries Tuna Markets. Developments in the US debate on the mercury content of tuna. Other developments in the US market. Japanese tuna fisheries and seafood markets. Greenpeace tuna campaign moves to the UK. Thai Union predicts growth for 2008. (PDF contains 12 pages)

Transient Temperature Distribution in a Sheet Metal by Low-Energy Laser Scanning

Low-energy laser-heating techniques are widely used in engineering applications such as, thinfilm deposition, surface treatment, metal forming and micro-structural pattern formation. In this paper,under the conditions of ignoring the thermo-mechanical coupling, a numerical simulation on the spatialand temporal temperature distribution in a sheet metal produced by the laser beam scanning in virtue of thefinite element method is presented. Both the three-dimensional transient temperature field and thetemperature evolution as a function of heat penetrating depth in the metal sheet are calculated. Thetemperature dependence of material properties was taken into account. It was shown that, after taking thetemperature dependence of the material absorbance effect into consideration, the temperature change ratealong the scanning direction and the temperature maximum were both increased.

Numeric Calculation for Transient Thermal Stress Field in Wall-Shape Metal Part During Laser Direct Forming

In order to investigate the transient thermal stress field in wall-shape metal part during laser direct forming, a FEM model basing on ANSYS is established, and its algorithm is also dealt with. Calculation results show that while the wall-shape metal part is being deposited, in X direction, the thermal stress in the top layer of the wall-shape metal part is tensile stress and in the inner of the wall-shape metal part is compressive stress. The reason causing above-mentioned thermal stress status in the wall-shape metal part is illustrated, and the influence of the time and the processing parameters on the thermal stress field in wall-shape metal part is also studied. The calculation results are consistent with experimental results in tendency.

The African slave trade and its remedy

Esta edição é revista e aumentada, com mais do dobro de páginas da edição primitiva, de 1839, que continha 240 páginas. Buxton, presidente da Sociedade para a Extinção do Tráfico de Escravos, apresenta um detalhadíssimo estudo do comércio de negros, desde a África Central e ambas as costas do Continente, até o Brasil, os Estados Unidos, Cuba, etc. Há estimativas de mortalidade em todos os estágios do cativeiro. A maior parte das referências são sobre Cuba e o Brasil. É um clássico pioneiro dos estudos sobre escravidão.

Rights of Portugal, in reference to Great Britain and the question of the slave trade, or, the manifesto and protest of the weak, against the ingratitude, oppression, and violence of the strong ...

Enquanto os políticos e diplomatas polemizavam e agiam, Thomas Buxton publicava, depois de viajar ao Brasil e ao Caribe, o mais completo levantamento sobre o tráfico negreiro jamais feito até então.