Global booms and busts: how is Brazil's middle class faring?

Brazil's Post War economic history has been marked by inflationary booms and busts, which kept large parts of the population poor, as income distribution remained highly skewed, and most governments failed to put enough efforts and resources into education and health. That seems to have changed recently, as an increasing number of studies have shown considerable advances in the incomes of the lower and the middle classes. This essay examines those findings and puts them into a historical perspective, discussing earlier attempts and hopes of Brazilian policy makers to advance the welfare of the population. It concludes that while the last fifteen years have been remarkable for the country to achieve macroeconomic stability and while the increasing efforts of supporting the poor seemed to have been moving income distribution slowly towards a more equal level, there is still a long way to go. The 2008 world financial crisis also hit Brazil hard, but the recovery has been smoother and faster than in any OECD country. The impact of the current crisis may provide a good test as to the robustness of the previous trends to further the wellbeing of the poor and the middle class

Booms and busts in commodity markets: bubbles or fundamentals?

This paper considers whether there were periodically collapsing rational speculative bubbles in commodity prices over a 40-year period from the late 1960s. We apply a switching regression approach to a broad range of commodities using two different measures of fundamental values—estimated from convenience yields and from a set of macroeconomic factors believed to affect commodity demand. We find reliable evidence for bubbles only among crude oil and feeder cattle, showing the popular belief that the extreme price movements observed in commodity markets were caused by pure speculation to be unsustainable

Historical and descriptive catalogue of the pictures, busts, &c. in the National portrait gallery ... /

Introduction signed by Lionel Cust.

Historical and descriptive catalogue of the pictures, busts, &c. in the National Portrait gallery ...

Mode of access: Internet.

Historical and descriptive catalogue of the pictures, busts, &c. in the National Portrait Gallery.

Introduction signed by Lionel Cust.

Historical and descriptive catalogue of the pictures, busts, &c. in the National Portrait Gallery ...

Introduction signed by Lionel Cust.

Commentary on the Models and Busts Act 1798

The first occasion on which British copyright law provided protection for a medium other than print. The legislation conferred exclusive rights lasting 14 years on persons who created new models or casts of human or animal figures.
The commentary describes the background to the Act, in particular the lobbying efforts of the artist and sculptor George Garrard, as well as the subsequent case-law, highlighting flaws in the drafting that lead to a further act in 1814. The commentary argues that while the 1798 Act is pre-modern, in the sense of having a reactive and subject-specific remit, by severing copyright from its print basis, the Act paved the way for the emergence of the modern image of copyright as concerned with the promotion of ‘art and literature'.

On approximate electromagnetic cloaking by transformation media

We give a comprehensive study on regularized approximate electromagnetic cloaking in the spherical geometry via the transformation optics approach. The following aspects are investigated: (i) near-invisibility cloaking of passive media as well as active/radiating sources; (ii) the existence of cloak-busting inclusions without lossy medium lining; (iii) overcoming the cloaking-busts by employing a lossy layer outside the cloaked region; and (iv) the frequency dependence of the cloaking performances. We address these issues and connect the obtained asymptotic results to singular ideal cloaking. Numerical verifications and demonstrations are provided to show the sharpness of our analytical study.

Towards improving the framework for probabilistic forecast evaluation

The evaluation of forecast performance plays a central role both in the interpretation and use of forecast systems and in their development. Different evaluation measures (scores) are available, often quantifying different characteristics of forecast performance. The properties of several proper scores for probabilistic forecast evaluation are contrasted and then used to interpret decadal probability hindcasts of global mean temperature. The Continuous Ranked Probability Score (CRPS), Proper Linear (PL) score, and IJ Good’s logarithmic score (also referred to as Ignorance) are compared; although information from all three may be useful, the logarithmic score has an immediate interpretation and is not insensitive to forecast busts. Neither CRPS nor PL is local; this is shown to produce counter intuitive evaluations by CRPS. Benchmark forecasts from empirical models like Dynamic Climatology place the scores in context. Comparing scores for forecast systems based on physical models (in this case HadCM3, from the CMIP5 decadal archive) against such benchmarks is more informative than internal comparison systems based on similar physical simulation models with each other. It is shown that a forecast system based on HadCM3 out performs Dynamic Climatology in decadal global mean temperature hindcasts; Dynamic Climatology previously outperformed a forecast system based upon HadGEM2 and reasons for these results are suggested. Forecasts of aggregate data (5-year means of global mean temperature) are, of course, narrower than forecasts of annual averages due to the suppression of variance; while the average “distance” between the forecasts and a target may be expected to decrease, little if any discernible improvement in probabilistic skill is achieved.

Price-based capital account regulations: the Colombian experience

Includes bibliography

Arnt van Tricht : Werkkatalog eines Bildhauers am Niederrhein im 16. Jahrhundert

Arnt van Tricht, gest. 1570, unterhielt bis in die späten 50er Jahre des 16. Jahrhunderts, wahrschein-lich aus Antwerpen kommend, in Kalkar am Niederrhein eine sehr erfolgreiche Werkstatt. Die bis dahin vorherrschende spätgotische Formensprache der langjährig ansässigen Bildhauer löste er durch die der Renaissance ab, führte jedoch deren Arbeitsfelder und Materialwahl weiter. Arnt van Tricht schuf Arbeiten sowohl religiöser als auch profaner Natur innerhalb des Gebiets der damals sehr bedeutenden Vereinigten Herzogtümer Kleve-Mark-Jülich-Berg und Geldern. Seine wohlhabenden Auftraggeber entstammten dem Klerus, der Bürgerschaft und dem Adel.rnIm Rahmen der Arbeit zeigte sich, dass sich für den Künstler die Verlegung der herzoglichen Residenz nach Düsseldorf und der wirtschaftliche Niedergang der Region letztlich stärker auswirkte als die religiösen Veränderungen durch die Reformation.rnArnt van Tricht schuf die meisten seiner religiösen Bildwerke für die Stiftskirche St. Viktor in Xanten, die durch die Bürgerschaft ausgestattete Pfarrkirche von St. Nicolai in Kalkar und umliegende Gemeinden. Einzelne Stücke sind, wohl über familiäre Verflechtungen vermittelt, in einem weiteren Radius zu finden. Van Tricht arbeitete Schnitzretabel mitsamt ihrer ornamentalen und figuralen Aus-stattung sowie Skulpturen(-gruppen) in Eichenholz. Daneben finden sich im Werk zahlreiche in Sandstein gearbeitete Skulpturen, die teilweise an Pfeilern und Portalen der Kirchen architektur-gebunden sind. Neben diesen rundplastischen Werken schuf Arnt van Tricht eine große Anzahl an steinernen Reliefarbeiten. Hierbei nehmen die überwiegend für die lokalen Kanoniker gearbeiteten Epitaphien mit biblischem Reliefbild in Ornamentrahmen den größten Teil ein.rnEin zweiter, gleichwertiger Werkkomplex, überwiegend in Sandstein gearbeitet, ist profaner Natur und fällt durch die Größe der Aufträge ins Gewicht. Arnt van Tricht war an einigen groß angelegten Modernisierungsprojekten an Stadthäusern und Kastellen des lokalen Adels beschäftigt. Für mehrere aufwendig gestaltete Fassadendekorationen arbeitete er Architekturglieder mit figürlicher Darstellung oder Ornament, Büsten und freiplastische Skulpturen. Arnt van Tricht war aber auch an der Aus-gestaltung der Innenräume beteiligt. Aufwendig skulptierte und reliefverzierte Kaminverkleidungen stehen dabei neben reduzierteren Arbeiten für offensichtlich weniger repräsentative Räume. Neben in Eichenholz gearbeiteter Vertäfelung schuf Arnt van Tricht hölzerne figurale Handtuchhalter. Diese zeigen, wie auch die Reliefbilder der Kamine, die darüber hinaus Wappen und Porträts der Bauherren aufnehmen, eine religiöse oder profane, auch antikisierende Thematik, bei der ein moralisierender Unterton mitschwingt.rnIn dieser Arbeit werden erstmals alle Werkstücke des Künstlers zusammengeführt dargestellt, so dass ein Werkkatalog mit einem Überblick über das sehr breit gefächerte Spektrum des Opus Arnt van Trichts vorliegt. Häufig durch bloße Nennung mit Arnt van Tricht in Verbindung gebrachte Arbeiten werden bewertet und die Zu- oder Abschreibung begründet. Auch können einige Stücke neu zugeschrieben werden.

Iowa State Daily (January 17, 2012)

ContentsCollege cancels classTeam 'busts' food contamination problemWeekend losses frustrate coaches

Notice des statues, bustes et bas-reliefs, de la Galerie des antiques du Musée Napoléon, ouverte pour la première fois le 18 brumaire an 9.

Mode of access: Internet.

Proposed flat-topped pulses bursts generation using all-pass multi-cavity structures

We propose a simple lossless method for the generation of flat-topped intensity pulses bursts from a single utrashort pulse. We have found optimum solutions corresponding to different numbers of cavities and burst pulses, showing that the proposed all-pass structures of optical cavities, properly designed, can generate close to flat-topped pulse busts.