Identifying aggregate demand and supply shocks in a small open economy

The standard Blanchard-Quah (BQ) decomposition forces aggregate demand and supply shocks to be orthogonal. However, this assumption is problematic for a nation with an inflation target. The very notion of inflation targeting means that monetary policy reacts to changes in aggregate supply. This paper employs a modification of the BQ procedure that allows for correlated shifts in aggregate supply and demand. It is found that shocks to Australian aggregate demand and supply are highly correlated. The estimated shifts in the aggregate demand and supply curves are then used to measure the effects of inflation targeting on the Australian inflation rate and level of GDP.

Small firm growth

We review and discuss the literature on small firm growth with an intention to provide a useful vantage point for new research studies regarding this important phenomenon. We first discuss conceptual and methodological issues that represent critical choices for those who research growth and which make it challenging to compare results from previous studies. The substantial review of past research is organized into four sections representing two smaller and two larger literatures. The first of the latter focuses on internal and external drivers of small firm growth. Here we find that much has been learnt and that many valuable generalizations can be made. However, we also conclude that more research of the same kind is unlikely to yield much. While interactive and non-linear effects may be worth pursuing it is unlikely that any new and important growth drivers or strong, linear main effects would be found. The second large literature deals with organizational life-cycles or stages of development. While deservedly criticized for unwarranted determinism and weak empirics this type of approach addresses problems of high practical and also theoretical relevance, and should not be shunned by researchers. We argue that with a change in the fundamental assumptions and improved empirical design, research on the organizational and managerial consequences of growth is an important line of inquiry. With this, we overlap with one of the smaller literatures, namely studies focusing on the effects of growth. We argue that studies too often assume that growth equals success. We advocate instead the use of growth as an intermediary variable that influences more fundamental goals in ways that should be carefully examined rather than assumed. The second small literature distinguishes between different modes or forms of growth, including, e.g., organic vs. acquisition-based growth, and international expansion. We note that modes of growth is an important topic that has been under studied in the growth literature, whereas in other branches of research aspects of it may have been studied intensely, but not primarily from a growth perspective. In the final section we elaborate on ways forward for research on small firm growth. We point at rich opportunities for researchers who look beyond drivers of growth, where growth is viewed as a homogenous phenomenon assumed to unambiguously reflect success, and instead focus on growth as a process and a multi-dimensional phenomenon, as well as on how growth relates to more fundamental outcomes.

Low-cost flight control system for a small autonomous helicopter

In this paper we describe a low-cost flight control system for a small (60 class) helicopter which is part of a larger project to develop an autonomous flying vehicle. Our approach differs from that of others in not using an expensive inertial/GPS sensing system. The primary sensors for vehicle stabilization are a low-cost inertial sensor and a pair of CMOS cameras. We describe the architecture of our flight control system, the inertial and visual sensing subsystems and present some flight control results.

Algebraic analysis of small scale LEX-BES

This paper examines the algebraic cryptanalysis of small scale variants of the LEX-BES. LEX-BES is a stream cipher based on the Advanced Encryption Standard (AES) block cipher. LEX is a generic method proposed for constructing a stream cipher from a block cipher, initially introduced by Biryukov at eSTREAM, the ECRYPT Stream Cipher project in 2005. The Big Encryption System (BES) is a block cipher introduced at CRYPTO 2002 which facilitates the algebraic analysis of the AES block cipher. In this paper, experiments were conducted to find solution of the equation system describing small scale LEX-BES using Gröbner Basis computations. This follows a similar approach to the work by Cid, Murphy and Robshaw at FSE 2005 that investigated algebraic cryptanalysis on small scale variants of the BES. The difference between LEX-BES and BES is that due to the way the keystream is extracted, the number of unknowns in LEX-BES equations is fewer than the number in BES. As far as the author knows, this attempt is the first at creating solvable equation systems for stream ciphers based on the LEX method using Gröbner Basis computations.

A two-step mutual authentication protocol based on randomized hash-lock for small RFID networks

RFID has been widely used in today's commercial and supply chain industry, due to the significant advantages it offers and the relatively low production cost. However, this ubiquitous technology has inherent problems in security and privacy. This calls for the development of simple, efficient and cost effective mechanisms against a variety of security threats. This paper proposes a two-step authentication protocol based on the randomized hash-lock scheme proposed by S. Weis in 2003. By introducing additional measures during the authentication process, this new protocol proves to enhance the security of RFID significantly, and protects the passive tags from almost all major attacks, including tag cloning, replay, full-disclosure, tracking, and eavesdropping. Furthermore, no significant changes to the tags is required to implement this protocol, and the low complexity level of the randomized hash-lock algorithm is retained.

Corneal confocal microscopy : a novel means to detect nerve fibre damage in idiopathic small fibre neuropathy

Patients with idiopathic small fibre neuropathy (ISFN) have been shown to have significant intraepidermal nerve fibre loss and an increased prevalence of impaired glucose tolerance (IGT). It has been suggested that the dysglycemia of IGT and additional metabolic risk factors may contribute to small nerve fibre damage in these patients. Twenty-five patients with ISFN and 12 aged-matched control subjects underwent a detailed evaluation of neuropathic symptoms, neurological deficits (Neuropathy deficit score (NDS); Nerve Conduction Studies (NCS); Quantitative Sensory Testing (QST) and Corneal Confocal Microscopy (CCM)) to quantify small nerve fibre pathology. Eight (32%) patients had IGT. Whilst all patients with ISFN had significant neuropathic symptoms, NDS, NCS and QST except for warm thresholds were normal. Corneal sensitivity was reduced and CCM demonstrated a significant reduction in corneal nerve fibre density (NFD) (Pb0.0001), nerve branch density (NBD) (Pb0.0001), nerve fibre length (NFL) (Pb0.0001) and an increase in nerve fibre tortuosity (NFT) (Pb0.0001). However these parameters did not differ between ISFN patients with and without IGT, nor did they correlate with BMI, lipids and blood pressure. Corneal confocal microscopy provides a sensitive non-invasive means to detect small nerve fibre damage in patients with ISFN and metabolic abnormalities do not relate to nerve damage.

Examination of pencil beam predictions of small-field dose using dosimetry film and Monte Carlo simulations

The iPlan treatment planning sys-tem uses a pencil beam algorithm, with density cor-rections, to predict the doses delivered by very small (stereotactic) radiotherapy fields. This study tests the accuracy of dose predictions made by iPlan, for small-field treatments delivered to a planar solid wa-ter phantom and to heterogeneous human tissue using the BrainLAB m3 micro-multileaf collimator.

Effect of optical aberrations on the color appearance of small defocused lights

We investigated influences of optics and surround area on color appearance of defocused, small narrow band photopic lights (1’ arc diameter, λmax 510 - 628 nm) centered within a black annulus and surrounded by a white field. Participants included seven normal trichromats with L- or M-cone biased ratios. We controlled chromatic aberration with elements of a Powell achromatizing lens and corrected higher-order aberrations with an adaptive-optics system. Longitudinal chromatic aberrations, but not monochromatic aberrations, are involved in changing appearance of small lights with defocus. Surround field structure is important because color changes were not observed when lights were presented on a uniform white surround.

How does small business impact on utilization of industry-led supply chain innovation capacity

This research uses confirmatory factor analysis and structural equation modelling to examine how organizational size - made up of four dimensions - control, resources, trust and complexity - impacts on utilization of industry-led supply chain innovation capacity in a traditional agribusiness industry, the Australian beef industry. It confirms small business rather than larger business accords greater importance to exploiting supply chain dynamic capabilities, particularly in relation to utilizing industry –led supply chain innovation capacity. For small business in Australian beef supply chains, being agile and able to adapt and align their business practices with supply chain partners is integral to ensuring these businesses remain relevant and competitive in this market. In theoretical terms this is supported by authors in the dynamic capabilities literature as they argue these types of capabilities enable organizations to innovate faster (or better), often leading to the creation of newer sources of competitive advantage.