965 resultados para Monetary circulation


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Les trouvailles de monnaies carolingiennes dans la péninsule ibérique sont peu abondantes, surtout pour les pièces frappées dans la Marche d’Espagne. Cet article présente l’état des connaissances sur cette question à propos d’un fragment de denier carolingien trouvé dans les fouilles archéologiques du site d’El Tolmo de Minateda (Hellín, Albacete, Espagne). Il s’agit d’une émission de Charlemagne de l’atelier de Roda, situé dans la Marche d’Espagne, atelier dont on ne connaissait jusqu’à maintenant qu’une seule pièce pour ce souverain franc. Le contexte stratigraphique de ce denier apporte une donnée intéressante sur le moment de son utilisation et en fait un des plus anciens exemples de la circulation de monnaies carolingiennes dans la Péninsule ibérique.

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[eng]A few 16th century coins found in the Cova del Ramal de la Raconada (Castelldefels, Barcelona) This paper announces the finding of eight coins at the excavation site of the Cova del Ramal de la Raconada (Castelldefels, Barcelona). An analysis of the cluster enables this numismatic material to be situated chronologically in the third quarter of the 16th century and to associate it with the monetary circulation at the beginning of the Modern Age. In addition, the material from the Cova del Ramal de la Raconada and other Bajo Llobregat locations enables us to make assumptions on the historical context at the end of the 16th century in the Barcelona coastal region.

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Se argumenta que la arqueología y la historia monetaria reúnen entre sí el potencial para proyectar una imagen de la economía romana muy diferente a la que sugieren los estereotipos minimalistas. Se discuten las implicancias de esta argumentación para el período tardoantiguo en particular, rechazando el catastrofismo con el que Rostovtzeff concluía su célebre historia del temprano imperio. En el imperio tardío la fortaleza de los intereses privados se mantuvo tan firme como siempre, en una economía caracterizada por la integración de los negocios públicos y privados antes que por un supuesto conflicto o antagonismo entre ambos. El imperio de Oriente conservó estas tendencias en forma pura, con niveles sostenidos de comercio y circulación monetaria hasta las décadas centrales del siglo VII. En este trabajo se argumenta que pensar en términos de ciclos económicos sería para los historiadores más razonable que la patología convencional de la "declinación", "decadencia", etc. Este patrón es notablemente evidente en la historia económica bizantina, marcada por abruptas fluctuaciones entre los siglos V y XII.

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Se argumenta que la arqueología y la historia monetaria reúnen entre sí el potencial para proyectar una imagen de la economía romana muy diferente a la que sugieren los estereotipos minimalistas. Se discuten las implicancias de esta argumentación para el período tardoantiguo en particular, rechazando el catastrofismo con el que Rostovtzeff concluía su célebre historia del temprano imperio. En el imperio tardío la fortaleza de los intereses privados se mantuvo tan firme como siempre, en una economía caracterizada por la integración de los negocios públicos y privados antes que por un supuesto conflicto o antagonismo entre ambos. El imperio de Oriente conservó estas tendencias en forma pura, con niveles sostenidos de comercio y circulación monetaria hasta las décadas centrales del siglo VII. En este trabajo se argumenta que pensar en términos de ciclos económicos sería para los historiadores más razonable que la patología convencional de la "declinación", "decadencia", etc. Este patrón es notablemente evidente en la historia económica bizantina, marcada por abruptas fluctuaciones entre los siglos V y XII.

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Se argumenta que la arqueología y la historia monetaria reúnen entre sí el potencial para proyectar una imagen de la economía romana muy diferente a la que sugieren los estereotipos minimalistas. Se discuten las implicancias de esta argumentación para el período tardoantiguo en particular, rechazando el catastrofismo con el que Rostovtzeff concluía su célebre historia del temprano imperio. En el imperio tardío la fortaleza de los intereses privados se mantuvo tan firme como siempre, en una economía caracterizada por la integración de los negocios públicos y privados antes que por un supuesto conflicto o antagonismo entre ambos. El imperio de Oriente conservó estas tendencias en forma pura, con niveles sostenidos de comercio y circulación monetaria hasta las décadas centrales del siglo VII. En este trabajo se argumenta que pensar en términos de ciclos económicos sería para los historiadores más razonable que la patología convencional de la "declinación", "decadencia", etc. Este patrón es notablemente evidente en la historia económica bizantina, marcada por abruptas fluctuaciones entre los siglos V y XII.

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A Masters Thesis, presented as part of the requirements for the award of a Research Masters Degree in Economics from NOVA – School of Business and Economics

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This paper provides a search theoretical model that captures two phenomena that have characterized several episodes of monetary history: currency shortages and the circulation of privately issued notes. As usual in these models, the media of exchange are determined as part of the equilibrium. We characterize all the different equilibria and specify the conditions under which there is a currency shortage and/or privately issued notes are used as means of payment. There is multiplicity of equilibria for the entire parameter space, but there always exist an equilibrium in which notes circulate, either alone or together with coins. Hence, credit is a self-fulfilling phenomenon that depends on the beliefs of agents about the acceptability and future repayment of notes. The degree of circulation of coins depends on two crucial parameters, the intrinsic utility of holding coins and the extent with which it is possible to find exchange opportunities in the market.

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The purpose of these working papers is to promote the circulation of research results (Research Series) and analytical studies (Documents Series) made within the National Bank of Belgium or presented by external economists in seminars, conferences and conventions organised by the Bank. The aim is therefore to provide a platform for discussion. The opinions expressed are strictly those of the authors and do not necessarily reflect the views of the National Bank of Belgium.

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The objective of this study is to verify the dynamics between fiscal policy, measured by public debt, and monetary policy, measured by a reaction function of a central bank. Changes in monetary policies due to deviations from their targets always generate fiscal impacts. We examine two policy reaction functions: the first related to inflation targets and the second related to economic growth targets. We find that the condition for stable equilibrium is more restrictive in the first case than in the second. We then apply our simulation model to Brazil and United Kingdom and find that the equilibrium is unstable in the Brazilian case but stable in the UK case.

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The circulation and transport of suspended particulate matter in the Caravelas Estuary are assessed. Nearly-synoptic hourly hydrographic, current (ADCP velocity and volume transport) and suspended particulate matter data were collected during a full semidiurnal spring tide, on the two transects Boca do Tomba and Barra Velha and on longitudinal sections at low and high tide. On the first transect the peak ebb currents (-1.5 ms-1) were almost twice as strong as those of the wider and shallow Barra Velha inlet (-0.80 ms-1) and the peak flood currents were 0.75 and 0.60 ms-1, respectively. Due to the strong tidal currents both inlets had weak vertical salinity stratification and were classified with the Stratification-circulation Diagram as Type 2a (partially mixed-weakly stratified) and Type 1a (well mixed). Volume transports were very close, ranging from -3,500 to 3,100 m³s-1 at the ebb and flood, respectively, with a residual -630 m³s-1. The concentration of the suspended particulate matter was closely related to the tidal variation and decreased landwards from 50 mg.L-1 at the estuary mouth, to 10 mg.L-1 at distances of 9 and 16 km for the low and high tide experiments, respectively. The total residual SPM transport was out of the estuary at rates of -18 tons per tidal cycle.

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Yellow fever (YF) is an acute viral infectious disease transmitted by mosquitoes which occurs in two distinct epidemiological cycles: sylvatic and urban. In the sylvatic cycle, the virus is maintained by monkey's infection and transovarian transmission in vectors. Surveillance of non-human primates is required for the detection of viral circulation during epizootics, and for the identification of unaffected or transition areas. An ELISA (enzyme-linked immunosorbent assay) was standardized for estimation of the prevalence of IgG antibodies against yellow fever virus in monkey sera (Alouatta caraya) from the reservoir area of Porto Primavera Hydroelectric Plant, in the state of São Paulo, Brazil. A total of 570 monkey sera samples were tested and none was reactive to antibodies against yellow fever virus. The results corroborate the epidemiology of yellow fever in the area. Even though it is considered a transition area, there were no reports to date of epizootics or yellow fever outbreaks in humans. Also, entomological investigations did not detect the presence of vectors of this arbovirus infection. ELISA proved to be fast, sensitive, an adequate assay, and an instrument for active search in the epidemiological surveillance of yellow fever allowing the implementation of prevention actions, even before the occurrence of epizootics.

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A febre amarela (FA) é doença infecciosa aguda de origem viral transmitida por mosquitos. No ciclo silvestre, o vírus é mantido por meio da infecção de macacos e da transmissão transovariana nos vetores. A vigilância sobre populações de primatas não humanos torna-se necessária para detectar a circulação viral, quando ainda está restrito a epizootias, e para determinar sua presença em regiões indenes ou de transição para a doença. Padronizou-se a técnica ELISA (Enzyme Linked Immunosorbent Assay) para determinar a prevalência de anticorpos da classe IgG contra o vírus da FA em soros de bugios (Alouatta caraya) da região do reservatório da Usina Hidrelétrica de Porto Primavera, SP. Foram testados soros de 570 macacos sendo que nenhuma amostra mostrou-se reativa para a presença de anticorpos contra o vírus da FA. Os resultados são coerentes com a epidemiologia da FA na região. Mesmo sendo área de transição, não se conhece, até o momento, ocorrência de epizootia ou surto de FA em humanos e investigações entomológicas não apontaram a presença de vetores para esta arbovirose. A técnica mostrou-se sensível, rápida e útil à vigilância epidemiológica como instrumento de busca ativa permitindo desencadear ações preventivas, como vacinação, antes mesmo do surgimento de epizootias

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The variability of the meridional overturning circulation (MOC) in the upper tropical Atlantic basin is investigated using a reduced-gravity model in a simplified domain. Four sets of idealized numerical experiments are performed: (i) switch-on of the MOC until a fixed value when a constant northward flow is applied along the western boundary; (ii) MOC with a variable flow; (iii) MOC in a quasi-steady flow; and (iv) shutdown of the MOC in the Northern Hemisphere. Results from experiments (i) show that eddies are generated at the equatorial region by shear instability and detached northward; eddies are responsible for an enhancement of the mean flow and the variability of the MOC. Results from experiments (ii) show a transitional behavior of the MOC related to the eddy generation in interannual-decadal time scales as the Reynolds number varies due to the variations in the MOC. In experiments (iii), a critical Reynolds number Re(c) around 30 is found, above which eddies are generated. Experiments (iv) demonstrate that even after the collapse of MOC in the Northern Hemisphere, eddies can still be generated and carry energy across the equator into the Northern Hemisphere; these eddies act to attenuate the impact of the MOC shutdown on short time scales. The results described here may be particularly pertinent to ocean general circulation models in which the Reynolds number lies close to the bifurcation point separating the laminar and turbulent regimes.

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Ammonium nitrogen removal from a synthetic wastewater by nitrification and denitrification processes were performed in a sequencing batch biofilm reactor containing immobilized biomass on polyurethane foam with circulation of the liquid-phase. It was analyzed the effect of four external carbon sources (ethanol, acetate, carbon synthetic medium and methanol) acting as electron donors in the denitrifying process. The experiments were conducted with intermittent aeration and operated at 30+/-1 degrees C in 8-h cycles. The synthetic wastewater (100 mgCOD/L and 50 mgNH(4)(+)-N/L) was added batch-wise, while the external carbon sources were added fed-batch-wise during the periods where aeration was suspended. Ammonium nitrogen removal efficiencies obtained were 95.7, 94.3 and 97.5% for ethanol, acetate and carbon synthetic medium, respectively. As to nitrite, nitrate and ammonium nitrogen effluent concentrations, the results obtained were, respectively: 0.1, 5.7 and 1.4 mg/L for ethanol; 0.2, 4.1 and 1.8 mg/L for acetate and 0.2, 6.7 and 0.8 for carbon synthetic medium. On the other hand using methanol, even at low concentrations (50% of the stoichiometric value calculated for complete denitrification), resulted in increasing accumulation of nitrate and ammonium nitrogen in the effluent over time.

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The objective of this research was to study the behavior of two anaerobic sequencing batch reactors, containing immobilized biomass (AnSBBR), as a function of the ratio of the volume of treated medium in each cycle to the total volume of reaction medium. The reactors, in which mixing was accomplished by recirculation of the liquid phase, were maintained at 30 +/- 1 degrees C and treated different wastewaters in 8-h cycles. The operational conditions imposed had the objective to investigate whether maintenance of a residual volume in the reactor would affect, at the end of each cycle, process efficiency and stability, as well as to verify the intensity of the effect for different types of wastewaters and organic loading rates. The first reactor, with work volume of 2.5 L, treated reconstituted cheese whey at an organic loading rate of 12 g COD.L(-1).d(-1) and presented similar effluent quality for the four conditions under which it was operated: renewal of 100, 70, 50 and 25 % of its work volume at each cycle. Despite the fact that reduction in the renewed volume did not significantly affect effluent quality, in quantitative terms, this reduction resulted in an increase in the amount of organic matter removed by the first reactor. The second reactor, with work volume of 1.8 L, treated synthetic wastewater at organic loading rates of 3 and 5 g COD.L(-1).d(-1) and operated under two conditions for each loading: renewal of 100 and 50 % of its work volume. At the organic loading rate of 3 g COD.L(-1).d(-1), the results showed that both effluent quality and amount of organic matter removed by the second reactor were independent of the treated volume per cycle. At the organic loading rate of 5 g COD.L(-1).d(-1), although the reduction in the renewed volume did not affect the amount of organic matter removed by the reactor, effluent quality improved during reactor operation with total discharge of its volume. In general, results showed process stability under all conditions, evidencing reactor flexibility and the potential to apply this technology in the treatment of different types of wastewater.