The Shape of the Risk Premium: Evidence from a Semiparametric Garch Model.

We examine the relationship between the risk premium on the S&P 500 index return and its conditional variance. We use the SMEGARCH - Semiparametric-Mean EGARCH - model in which the conditional variance process is EGARCH while the conditional mean is an arbitrary function of the conditional variance. For monthly S&P 500 excess returns, the relationship between the two moments that we uncover is nonlinear and nonmonotonic. Moreover, we find considerable persistence in the conditional variance as well as a leverage effect, as documented by others. Moreover, the shape of these relationships seems to be relatively stable over time.

Moving towards a more mechanistic approach in the determination of soil heat flux from remote measurements - II. Diurnal shape of soil heat flux

For vegetated surfaces, calculation of soil heat flux, G, with the Exact or Analytical method requires a harmonic analysis of below-canopy soil surface temperature, to obtain the shape of the diurnal course of G. When determining G with remote sensing methods, only composite (vegetation plus soil) radiometric brightness temperature is available. This paper presents a simple equation that relates the sum of the harmonic terms derived for the composite radiometric surface temperature to that of belowcanopy soil surface temperature. The thermal inertia, Gamma(,) for which a simple equation has been presented in a companion paper, paper I, is used to set the magnitude of G. To assess the success of the method proposed in this paper for the estimation of the diurnal shape of G, a comparison was made between 'remote' and in situ calculated values from described field sites. This indicated that the proposed method was suitable for the estimation of the shape of G for a variety of vegetation types and densities. The approach outlined in paper I, to obtain Gamma, was then combined with the estimated harmonic terms to predict estimates of G, which were compared to values predicted by empirical remote methods found in the literature. This indicated that the method proposed in the combination of papers I and II gave reliable estimates of G, which, in comparison to the other methods, resulted in more realistic predictions for vegetated surfaces. This set of equations can also be used for bare and sparsely vegetated soils, making it a universally applicable method. (C) 2007 Elsevier B.V. All rights reserved.

Rheology of magmas with bimodal crystal size and shape distributions: insights from analog experiments

Magmas in volcanic conduits commonly contain microlites in association with preexisting phenocrysts, as often indicated by volcanic rock textures. In this study, we present two different experiments that inves- tigate the flow behavior of these bidisperse systems. In the first experiments, rotational rheometric methods are used to determine the rheology of monodisperse and polydisperse suspensions consisting of smaller, prolate particles (microlites) and larger, equant particles (phenocrysts) in a bubble‐free Newtonian liquid (silicate melt). Our data show that increasing the relative proportion of prolate microlites to equant pheno- crysts in a magma at constant total particle content can increase the relative viscosity by up to three orders of magnitude. Consequently, the rheological effect of particles in magmas cannot be modeled by assuming a monodisperse population of particles. We propose a new model that uses interpolated parameters based on the relative proportions of small and large particles and produces a considerably improved fit to the data than earlier models. In a second series of experiments we investigate the textures produced by shearing bimodal suspensions in gradually solidifying epoxy resin in a concentric cylinder setup. The resulting textures show the prolate particles are aligned with the flow lines and spherical particles are found in well‐organized strings, with sphere‐depleted shear bands in high‐shear regions. These observations may explain the measured variation in the shear thinning and yield stress behavior with increasing solid fraction and particle aspect ratio. The implications for magma flow are discussed, and rheological results and tex- tural observations are compared with observations on natural samples.

The shape of change: memetic analysis of poverty definitions from the 1970s to the 2000s

The authors illustrate how notions of poverty are constructed around specific ‘memes’, or replicating units of cultural information, around which concepts and ideas develop and change. Three ‘memes’ characterising definitions of poverty over the previous years were identified: ‘basic needs’, ‘multidimensional’ and ‘deprivation’. The analysis illustrated the semantic space in which each term was utilised and to the extent it changed and modified over time by different actors. The results revealed how ‘memes’ compete with one another across the discourse. Within this competition, older concepts are almost never fully abandoned, but rather repackaged and reutilised. Thus, new definitions of poverty are less innovative than portrayed in the wider literature.

Shape and size of red blood cells from the Pygoscelid penguins of Antarctica using atomic force microscopy

Antarctic biodiversity is evolutionarily complex, reflecting the extreme ambient conditions. Therefore, Antarctic organisms exhibit sophisticated adaptations in all organization levels, including organs, tissues, and cells. Since red blood cells (RBCs) travel through the vertebrates blood delivering O(2) to all tissues and organs and purging the unwanted CO(2), they represent an interesting model to investigate biological adaptations. We have used atomic force microscopy (AFM) to compare the shape and size of RBCs of the Pygoscelid penguins. A total of 18 landmarks were measured in AFM images. When analyzed individually, the parameters were not capable of discriminating the RBCs of each species. However, the simultaneous use of multiple parameters discriminated (74%) among the RBCs. In addition, the use of RBC measurements was sufficient to hierarchically cluster the species in accordance to other common and reliable phylogenetic strategies. In light of these results, the use of RBC characters could effectively benefit taxonomic inferences.

g-acceleration of gravity: its measurement from the shape of water by using a computerized rotational system

This paper proposes a different experimental setup compared with the traditional ones, in order to determine the acceleration of gravity, which is carried out by using a fluid at a constant rotation. A computerized rotational system-by using a data acquisition system with specific software, a power amplifier and a rotary motion sensor-is employed in order to evaluate the angular velocity and g. An equation to determine g is inferred from fluid mechanics. For this purpose, the fluid's parabolic shape inside a cylindrical receptacle is considered using a rotational movement.

Shape memory and elastoplastic materials: from constitutive and numerical to fatigue modeling

Shape memory materials (SMMs) represent an important class of smart materials that have the ability to return from a deformed state to their original shape. Thanks to such a property, SMMs are utilized in a wide range of innovative applications. The increasing number of applications and the consequent involvement of industrial players in the field have motivated researchers to formulate constitutive models able to catch the complex behavior of these materials and to develop robust computational tools for design purposes. Such a research field is still under progress, especially in the prediction of shape memory polymer (SMP) behavior and of important effects characterizing shape memory alloy (SMA) applications. Moreover, the frequent use of shape memory and metallic materials in biomedical devices, particularly in cardiovascular stents, implanted in the human body and experiencing millions of in-vivo cycles by the blood pressure, clearly indicates the need for a deeper understanding of fatigue/fracture failure in microsize components. The development of reliable stent designs against fatigue is still an open subject in scientific literature. Motivated by the described framework, the thesis focuses on several research issues involving the advanced constitutive, numerical and fatigue modeling of elastoplastic and shape memory materials. Starting from the constitutive modeling, the thesis proposes to develop refined phenomenological models for reliable SMA and SMP behavior descriptions. Then, concerning the numerical modeling, the thesis proposes to implement the models into numerical software by developing implicit/explicit time-integration algorithms, to guarantee robust computational tools for practical purposes. The described modeling activities are completed by experimental investigations on SMA actuator springs and polyethylene polymers. Finally, regarding the fatigue modeling, the thesis proposes the introduction of a general computational approach for the fatigue-life assessment of a classical stent design, in order to exploit computer-based simulations to prevent failures and modify design, without testing numerous devices.