Early accretion of water and volatile elements to the inner Solar System: evidence from angrites.

Science.gov (United States)

Sarafian, Adam R; Hauri, Erik H; McCubbin, Francis M; Lapen, Thomas J; Berger, Eve L; Nielsen, Sune G; Marschall, Horst R; Gaetani, Glenn A; Righter, Kevin; Sarafian, Emily

2017-05-28

Inner Solar System bodies are depleted in volatile elements relative to chondrite meteorites, yet the source(s) and mechanism(s) of volatile-element depletion and/or enrichment are poorly constrained. The timing, mechanisms and quantities of volatile elements present in the early inner Solar System have vast implications for diverse processes, from planetary differentiation to the emergence of life. We report major, trace and volatile-element contents of a glass bead derived from the D'Orbigny angrite, the hydrogen isotopic composition of this glass bead and that of coexisting olivine and silicophosphates, and the 207 Pb- 206 Pb age of the silicophosphates, 4568 ± 20 Ma. We use volatile saturation models to demonstrate that the angrite parent body must have been a major body in the early inner Solar System. We further show via mixing calculations that all inner Solar System bodies accreted volatile elements with carbonaceous chondrite H and N isotope signatures extremely early in Solar System history. Only a small portion (if any) of comets and gaseous nebular H species contributed to the volatile content of the inner Solar System bodies.This article is part of the themed issue 'The origin, history and role of water in the evolution of the inner Solar System'. © 2017 The Author(s).

Stability and `volatility ` of element 104 oxychloride

Energy Technology Data Exchange (ETDEWEB)

Eichler, B.; Gaeggeler, H.W. [Paul Scherrer Inst. (PSI), Villigen (Switzerland)

1997-09-01

The formation enthalpies {Delta}H{sup *} of solid and gaseous oxychlorides of element 104 from free atoms were estimated by extrapolation. Stability and volatility of these compounds are compared to those of the homologous and neighbouring elements in the periodic system. It can be supposed that in a gas adsorption chromatographic process with oxygen containing chlorinating carrier gas the transport with the carrier gas flow occurs in the chemical state 104Cl{sub 4}. Only in the absorbed state the compound 104OCl{sub 2} is formed. (author) 1 fig., 3 refs.

Volatile element loss during planetary magma ocean phases

Science.gov (United States)

Dhaliwal, Jasmeet K.; Day, James M. D.; Moynier, Frédéric

2018-01-01

Moderately volatile elements (MVE) are key tracers of volatile depletion in planetary bodies. Zinc is an especially useful MVE because of its generally elevated abundances in planetary basalts, relative to other MVE, and limited evidence for mass-dependent isotopic fractionation under high-temperature igneous processes. Compared with terrestrial basalts, which have δ66Zn values (per mille deviation of the 66Zn/64Zn ratio from the JMC-Lyon standard) similar to some chondrite meteorites (∼+0.3‰), lunar mare basalts yield a mean δ66Zn value of +1.4 ± 0.5‰ (2 st. dev.). Furthermore, mare basalts have average Zn concentrations ∼50 times lower than in typical terrestrial basaltic rocks. Late-stage lunar magmatic products, including ferroan anorthosite, Mg- and Alkali-suite rocks have even higher δ66Zn values (+3 to +6‰). Differences in Zn abundance and isotopic compositions between lunar and terrestrial rocks have previously been interpreted to reflect evaporative loss of Zn, either during the Earth-Moon forming Giant Impact, or in a lunar magma ocean (LMO) phase. To explore the mechanisms and processes under which volatile element loss may have occurred during a LMO phase, we developed models of Zn isotopic fractionation that are generally applicable to planetary magma oceans. Our objective was to identify conditions that would yield a δ66Zn signature of ∼+1.4‰ within the lunar mantle. For the sake of simplicity, we neglect possible Zn isotopic fractionation during the Giant Impact, and assumed a starting composition equal to the composition of the present-day terrestrial mantle, assuming both the Earth and Moon had zinc 'consanguinity' following their formation. We developed two models: the first simulates evaporative fractionation of Zn only prior to LMO mixing and crystallization; the second simulates continued evaporative fractionation of Zn that persists until ∼75% LMO crystallization. The first model yields a relatively homogenous bulk solid

Origin of the earth's moon: constraints from alkali volatile trace elements

International Nuclear Information System (INIS)

Kreutzberger, M.E.; Drake, M.J.; Jones, J.H.

1986-01-01

Although the Moon is depleted in volatile elements compared to the Earth, these depletions are not in accord with simple volatility. For example, the Cs/Rb ratios of the Earth and Moon inferred from basalts are approximately one seventh and one half of the CI ratio, respectively. Volatility considerations alone predict that the lunar Cs/Rb ratio should be equal to or lower than the terrestrial ratio if the Moon was derived entirely from Earth mantle material. Thus hypotheses such as rotational fission which invoke derivation of lunar material entirely from the Earth's mantle may be excluded. The collisional ejection hypothesis of lunar origin requires at least 18% of lunar material to be derived from a projectile with dehydrated CI composition to match the lunar Cs/Rb ratio, and 25% to 50% to match both the lunar Cs/Rb ratio and absolute concentrations of Cs and Rb. It remains to be demonstrated that this relatively large contribution of projectile material is consistent with other elemental abundances and element ratios in the Moon. (author)

Distribution, movement, and evolution of the volatile elements in the lunar regolith

International Nuclear Information System (INIS)

Gibson, E.K. Jr.

1975-01-01

The abundances and distributions of carbon, nitrogen, and sulfur in lunar soils are reviewed. Carbon and nitrogen have a predominantly extra-lunar origin in lunar soils and breccias, while sulfur is mostly indigeneous to the Moon. The lunar processes which effect the movement, distribution, and evolution of carbon, nitrogen, and sulfur, along with the volatile alkali elements sodium, potassium, and rubidium during regolith processes are discussed. Possible mechanisms which may result in the addition to or loss from the Moon of these volatile elements are considered. (Auth.)

Distribution, movement, and evolution of the volatile elements in the lunar regolith

Science.gov (United States)

Gibson, E. K., Jr.

1975-01-01

The abundances and distributions of carbon, nitrogen, and sulfur in lunar soils are reviewed. Carbon and nitrogen have a predominantly extra-lunar origin in lunar soils and breccias, while sulfur is mostly indigeneous to the moon. The lunar processes which effect the movement, distribution, and evolution of carbon, nitrogen, and sulfur, along with the volatile alkali elements sodium, potassium, and rubidium during regolith processes are discussed. Possible mechanisms which may result in the addition to or loss from the moon of these volatile elements are considered.

Rust and schreibersite in Apollo 16 highland rocks - Manifestations of volatile-element mobility

Science.gov (United States)

Hunter, R. H.; Taylor, L. A.

Rust is a manifestation of halogen and volatile-metal mobility in the lunar environment. Schreibersite is stable as the primary phosphorus-bearing phase in the highland rocks, a consequence of the inherently low oxygen fugacity within impact-generated melts. Apatite and whitlockite are subordinate in these rocks. The partitioning of P into phosphide in impact-generated melts, and the failure of phosphate to crystallize, effects a decoupling of the halogens and phosphorus. Of the Apollo 16 rocks, 63% contain rust, 70% contain schreibersite, and 52% contain both phases, thereby establishing the pervasiveness of volatile-elements throughout the highland rocks. The major portion of these volatile-bearing phases occur in impact melt-rocks or in breccia matrices. Rhabdites of schreibersite in some of the FeNi grains indicate that there is a meteoritic contribution to the phosphorus in these rocks. Cl/P2O5 ratios in lunar highland rocks are a function of secondary effects, with any apparent Cl-P correlations being coincidential. The present observations preclude the validity of models based on such elemental ratios in these rocks. The presence of rust in the clast laden matrices of pristine rocks indicates fugitive element localization. Pristine clasts may have been contaminated. The basis for a pristine volatile chemistry is questioned.

Melt inclusion evidence for a volatile-enriched (H2O, Cl, B) component in parental magmas of Gorgona Island komatiites

Science.gov (United States)

Kamenetsky, V.; Sobolev, A.; McDonough, W.

2003-04-01

Late Cretaceous komatiites of Gorgona Island are unambiguous samples of ultra-mafic melts related to a hot and possibly 'wet' mantle plume. Despite significant efforts in studying komatiites, their volatile abundances remain largely unknown because of significant alteration of rocks and lack of fresh glasses. This work presents major, trace and volatile element data for 22 partially homogenised (at 1275oC and 1 bar pressure) melt inclusions in olivine (Fo 90.5-91.5) from a Gorgona Isl. komatiite (# Gor 94-3). Major element compositions (except FeO which is notably lower by up to 5 wt% as a result of post-entrapment re-equilibration) and most lithophile trace elements of melt inclusions are indistinguishable from the whole rock komatiites. With the exception of three inclusions that have low Na, H2O, Cl, F and S (likely compromised and degassed during heating) most compositions are characterised by relatively constant and high volatile abundances (H2O 0.4-0.8 wt%, Cl 0.02-0.03 wt%, B 0.8-1.4 ppm). These are interpreted as representative of original volatiles in parental melts because they correspond to the internal volatile pressure in the closed inclusions significantly exceeding 1 bar pressure of heating experiment. Although H2O is strongly enriched (PM-normalised H2O/Ce 10-17) its concentrations correlate well with many elements (e.g. Yb, Er, Y, Ti, Sr, Be). Other positive anomalies on the overall depleted (La/Sm 0.26-0.33) PM normalized compositional spectra of melt inclusions are shown by B (B/K 2.4-5.4) and Cl (Cl/K 11-16). Compositions of melt inclusions, when corrected for Fe loss and recalculated in equilibrium with host olivine, have high MgO (15.4-16.4 wt%; Mg# of 74) and substantial H2O (0.4-0.6 wt%) contents. This together with the data on other 'enriched' elements argues for the presence of previously unknown volatile-enriched component in the parental melts of Gorgona Isl. komatiites. We discuss contamination of magmas by altered oceanic crust in the

Agricultural management, season and trace elements effects on volatile oil production from Melissa officinalis L. (Lemon balm)

International Nuclear Information System (INIS)

Sussa, Fabio Vitorio; Duarte, Celina Lopes; Silva, Paulo Sergio Cardoso da; Furlan, Marcos Roberto

2016-01-01

The objective of this study was to provide information about organic and mineral fertilization, season and trace elements effects on volatile oil production by the species Melissa officinalis. Elemental concentration was determined by instrumental neutron activation analysis and atomic absorption spectrometry. The volatile oil was extracted by hydrodistillation and analyzed by gas chromatography coupled to a mass spectrometer. The elemental content and the main compounds vary according to agricultural management and season. The results indicate that the production of volatile oil main compounds from M. officinalis is correlated with the concentrations of Na, Co, Rb, Cd, Cs, La, Sm and Hf. (author)

The lunar core can be a major reservoir for volatile elements S, Se, Te and Sb.

Science.gov (United States)

Steenstra, Edgar S; Lin, Yanhao; Dankers, Dian; Rai, Nachiketa; Berndt, Jasper; Matveev, Sergei; van Westrenen, Wim

2017-11-06

The Moon bears a striking compositional and isotopic resemblance to the bulk silicate Earth (BSE) for many elements, but is considered highly depleted in many volatile elements compared to BSE due to high-temperature volatile loss from Moon-forming materials in the Moon-forming giant impact and/or due to evaporative loss during subsequent magmatism on the Moon. Here, we use high-pressure metal-silicate partitioning experiments to show that the observed low concentrations of volatile elements sulfur (S), selenium (Se), tellurium (Te), and antimony (Sb) in the silicate Moon can instead reflect core-mantle equilibration in a largely to fully molten Moon. When incorporating the core as a reservoir for these elements, their bulk Moon concentrations are similar to those in the present-day bulk silicate Earth. This suggests that Moon formation was not accompanied by major loss of S, Se, Te, Sb from Moon-forming materials, consistent with recent indications from lunar carbon and S isotopic compositions of primitive lunar materials. This is in marked contrast with the losses of other volatile elements (e.g., K, Zn) during the Moon-forming event. This discrepancy may be related to distinctly different cosmochemical behavior of S, Se, Te and Sb within the proto-lunar disk, which is as of yet virtually unconstrained.

Determination of Trace and Volatile Element Abundance Systematics of Lunar Pyroclastic Glasses 74220 and 15426 Using LA-ICP-MS

Science.gov (United States)

McIntosh, E. Carrie; Porrachia, Magali; McCubbin, Francis M.; Day, James M. D.

2017-01-01

Since their recognition as pyroclastic glasses generated by volcanic fire fountaining on the Moon, 74220 and 15426 have garnered significant scientific interest. Early studies recognized that the glasses were particularly enriched in volatile elements on their surfaces. More recently, detailed analyses of the interiors of the glasses, as well as of melt inclusions within olivine grains associated with the 74220 glass beads, have determined high H2O, F, Cl and S contents. Such elevated volatile contents seem at odds with evidence from moderately volatile elements (MVE), such as Zn and K, for a volatile- depleted Moon. In this study, we present initial results from an analytical campaign to study trace element abundances within the pyroclastic glass beads. We report trace element data determined by laser ablation inductively coupled plasma mass spectrometry (LA-ICP-MS) for 15426 and 74220.

A history of violence: Insights into post-accretionary heating in carbonaceous chondrites from volatile element abundances, Zn isotopes and water contents

Science.gov (United States)

Mahan, Brandon; Moynier, Frédéric; Beck, Pierre; Pringle, Emily A.; Siebert, Julien

2018-01-01

Carbonaceous chondrites (CCs) may have been the carriers of water, volatile and moderately volatile elements to Earth. Investigating the abundances of these elements, their relative volatility, and isotopes of state-change tracer elements such as Zn, and linking these observations to water contents, provide vital information on the processes that govern the abundances and isotopic signatures of these species in CCs and other planetary bodies. Here we report Zn isotopic data for 28 CCs (20 CM, 6 CR, 1 C2-ung, and 1 CV3), as well as trace element data for Zn, In, Sn, Tl, Pb, and Bi in 16 samples (8 CM, 6 CR, 1 C2-ung, and 1 CV3), that display a range of elemental abundances from case-normative to intensely depleted. We use these data, water content data from literature and Zn isotopes to investigate volatile depletions and to discern between closed and open system heating. Trace element data have been used to construct relative volatility scales among the elements for the CM and CR chondrites. From least volatile to most, the scale in CM chondrites is Pb-Sn-Bi-In-Zn-Tl, and for CR chondrites it is Tl-Zn-Sn-Pb-Bi-In. These observations suggest that heated CM and CR chondrites underwent volatile loss under different conditions to one another and to that of the solar nebula, e.g. differing oxygen fugacities. Furthermore, the most water and volatile depleted samples are highly enriched in the heavy isotopes of Zn. Taken together, these lines of evidence strongly indicate that heated CM and CR chondrites incurred open system heating, stripping them of water and volatiles concomitantly, during post-accretionary shock impact(s).

Efficient growth of HTS films with volatile elements

Energy Technology Data Exchange (ETDEWEB)

Siegal, M.P.; Overmyer, D.L.; Dominguez, F.

1998-12-22

A system is disclosed for applying a volatile element-HTS layer, such as Tl-HTS, to a substrate in a multiple zone furnace, said method includes heating at higher temperature, in one zone of the furnace, a substrate and adjacent first source of Tl-HTS material, to sublimate Tl-oxide from the source to the substrate; and heating at lower temperature, in a separate zone of the furnace, a second source of Tl-oxide to replenish the first source of Tl-oxide from the second source. 3 figs.

Trace Elements and Minerals in Fumarolic Sulfur: The Case of Ebeko Volcano, Kuriles

Directory of Open Access Journals (Sweden)

E. P. Shevko

2018-01-01

Full Text Available Native sulfur deposits on fumarolic fields at Ebeko volcano (Northern Kuriles, Russia are enriched in chalcophile elements (As-Sb-Se-Te-Hg-Cu and contain rare heavy metal sulfides (Ag2S, HgS, and CuS, native metal alloys (Au2Pd, and some other low-solubility minerals (CaWO4, BaSO4. Sulfur incrustations are impregnated with numerous particles of fresh and altered andesite groundmass and phenocrysts (pyroxene, magnetite as well as secondary minerals, such as opal, alunite, and abundant octahedral pyrite crystals. The comparison of elemental abundances in sulfur and unaltered rocks (andesite demonstrated that rock-forming elements (Ca, K, Fe, Mn, and Ti and other lithophile and chalcophile elements are mainly transported by fumarolic gas as aerosol particles, whereas semimetals (As, Sb, Se, and Te, halogens (Br and I, and Hg are likely transported as volatile species, even at temperatures slightly above 100°C. The presence of rare sulfides (Ag2S, CuS, and HgS together with abundant FeS2 in low-temperature fumarolic environments can be explained by the hydrochloric leaching of rock particles followed by the precipitation of low-solubility sulfides induced by the reaction of acid solutions with H2S at ambient temperatures. The elemental composition of native sulfur can be used to qualitatively estimate elemental abundances in low-temperature fumarolic gases.

Determination of refractive and volatile elements in sediment using laser ablation inductively coupled plasma mass spectrometry.

Science.gov (United States)

Duodu, Godfred Odame; Goonetilleke, Ashantha; Allen, Charlotte; Ayoko, Godwin A

2015-10-22

Wet-milling protocol was employed to produce pressed powder tablets with excellent cohesion and homogeneity suitable for laser ablation (LA) analysis of volatile and refractive elements in sediment. The influence of sample preparation on analytical performance was also investigated, including sample homogeneity, accuracy and limit of detection. Milling in volatile solvent for 40 min ensured sample is well mixed and could reasonably recover both volatile (Hg) and refractive (Zr) elements. With the exception of Cr (-52%) and Nb (+26%) major, minor and trace elements in STSD-1 and MESS-3 could be analysed within ±20% of the certified values. Comparison of the method with total digestion method using HF was tested by analysing 10 different sediment samples. The laser method recovers significantly higher amounts of analytes such as Ag, Cd, Sn and Sn than the total digestion method making it a more robust method for elements across the periodic table. LA-ICP-MS also eliminates the interferences from chemical reagents as well as the health and safety risks associated with digestion processes. Therefore, it can be considered as an enhanced method for the analysis of heterogeneous matrices such as river sediments. Copyright © 2015 Elsevier B.V. All rights reserved.

Determination of refractive and volatile elements in sediment using laser ablation inductively coupled plasma mass spectrometry

Energy Technology Data Exchange (ETDEWEB)

Duodu, Godfred Odame [School of Chemistry, Physics and Mechanical Engineering, Science and Engineering Faculty, Queensland University of Technology (QUT), 2 George St, 4001, QLD (Australia); Goonetilleke, Ashantha [School of Civil Engineering and Built Environment, Science and Engineering Faculty, Queensland University of Technology (QUT), 2 George St, 4001, QLD (Australia); Allen, Charlotte [Institute for Future Environments, Queensland University of Technology (QUT), 2 George St, 4001, QLD (Australia); Ayoko, Godwin A., E-mail: g.ayoko@qut.edu.au [School of Chemistry, Physics and Mechanical Engineering, Science and Engineering Faculty, Queensland University of Technology (QUT), 2 George St, 4001, QLD (Australia)

2015-10-22

Wet-milling protocol was employed to produce pressed powder tablets with excellent cohesion and homogeneity suitable for laser ablation (LA) analysis of volatile and refractive elements in sediment. The influence of sample preparation on analytical performance was also investigated, including sample homogeneity, accuracy and limit of detection. Milling in volatile solvent for 40 min ensured sample is well mixed and could reasonably recover both volatile (Hg) and refractive (Zr) elements. With the exception of Cr (−52%) and Nb (+26%) major, minor and trace elements in STSD-1 and MESS-3 could be analysed within ±20% of the certified values. Comparison of the method with total digestion method using HF was tested by analysing 10 different sediment samples. The laser method recovers significantly higher amounts of analytes such as Ag, Cd, Sn and Sn than the total digestion method making it a more robust method for elements across the periodic table. LA-ICP-MS also eliminates the interferences from chemical reagents as well as the health and safety risks associated with digestion processes. Therefore, it can be considered as an enhanced method for the analysis of heterogeneous matrices such as river sediments. - Highlights: • Wet milling was used to produce pressed tablet sediment for LA-ICP-MS analysis. • Milling was effective for refractive elements with narrow range of particle size. • This is the first use of LA-ICP-MS for Hg analysis in sediment samples. • Acceptable accuracy and precision were obtained for most of the elements studied. • Detection limits down to parts per trillion were observed for some elements.

TWO EXTRASOLAR ASTEROIDS WITH LOW VOLATILE-ELEMENT MASS FRACTIONS

International Nuclear Information System (INIS)

Jura, M.; Xu, S.; Klein, B.; Zuckerman, B.; Koester, D.

2012-01-01

Using ultraviolet spectra obtained with the Cosmic Origins Spectrograph on the Hubble Space Telescope, we extend our previous ground-based optical determinations of the composition of the extrasolar asteroids accreted onto two white dwarfs, GD 40 and G241-6. Combining optical and ultraviolet spectra of these stars with He-dominated atmospheres, 13 and 12 polluting elements are confidently detected in GD 40 and G241-6, respectively. For the material accreted onto GD 40, the volatile elements C and S are deficient by more than a factor of 10 and N by at least a factor of 5 compared to their mass fractions in primitive CI chondrites and approach what is inferred for bulk Earth. A similar pattern is found for G241-6 except that S is undepleted. We have also newly detected or placed meaningful upper limits for the amount of Cl, Al, P, Ni, and Cu in the accreted matter. Extending results from optical studies, the mass fractions of refractory elements in the accreted parent bodies are similar to what is measured for bulk Earth and chondrites. Thermal processing, perhaps interior to a snow line, appears to be of central importance in determining the elemental compositions of these particular extrasolar asteroids.

Geological occurrence response to trace elemental migration in coal liquefaction based on SPSS: take no. 11 coalbed in Antaibao mine for example

Science.gov (United States)

Xia, Xiaohong; Qin, Yong; Yang, Weifeng

2013-03-01

Coal liquefaction is an adoptable method to transfer the solid fossil energy into liquid oil in large scale, but the dirty material in which will migrate to different step of liquefaction. The migration rule of some trace elements is response to the react activity of macerals in coal and the geological occurrence of the element nature of itself. In this paper, from the SPSS data correlation analysis and hierarchical clustering dendrogram about the trace elements with macerals respond to coal liquefaction yield, it shows the trace elements in No.11 Antaibao coal seam originated from some of lithophile and sulphophle elements. Correlation coefficient between liquefaction yield of three organic macerals and migration of the elements in liquefaction residue indicated that the lithophile are easy to transfer to residue, while sulphophle are apt to in the liquid products. The activated macerals are response to sulphophle trace elements. The conclusion is useful to the coal blending and environmental effects on coal direct liquefaction.

Constitution of terrestrial planets

International Nuclear Information System (INIS)

Waenke, H.

1981-01-01

Reliable estimates of the bulk composition are restricted to the Earth, the Moon and the eucrite parent asteroid. The last, the parent body of the eucrite-diogenite family of meteorites, seems to have an almost chondritic composition except for a considerable depletion of all moderately volatile (Na, K, Rb, F, etc.) and highly volatile (Cl, Br, Cd, Pb, etc.) elements. The moon is also depleted in moderate volatile and volatile elements compared to carbonaceous chondrites of type 1 (C1) and to the Earth. Again normalized to C1 and Si the Earth's mantle and the Moon are slightly enriched in refractory lithophile elements and in magnesium. The striking depletion of the Earth's mantle for the elements V, Cr and Mn can be explained by their partial removal into the core. Apart from their contents of metallic iron, all siderophile elements, moderately volatile and volatile elements, Earth and Moon are chemically very similar. It might well be that, with these exceptions and that of a varying degree of oxidation, all the inner planets have a similar chemistry. The chemical composition of the Earth's mantle, yields important information about the accretion history of the Earth and that of the inner planets. (author)

Trace element partitioning in ashes from boilers firing pure wood or mixtures of solid waste with respect to fuel composition, chlorine content and temperature

Energy Technology Data Exchange (ETDEWEB)

Saqib, Naeem, E-mail: naeem.saqib@oru.se; Bäckström, Mattias, E-mail: mattias.backstrom@oru.se

2014-12-15

Highlights: • Different solids waste incineration is discussed in grate fired and fluidized bed boilers. • We explained waste composition, temperature and chlorine effects on metal partitioning. • Excessive chlorine content can change oxide to chloride equilibrium partitioning the trace elements in fly ash. • Volatility increases with temperature due to increase in vapor pressure of metals and compounds. • In Fluidized bed boiler, most metals find themselves in fly ash, especially for wood incineration. - Abstract: Trace element partitioning in solid waste (household waste, industrial waste, waste wood chips and waste mixtures) incineration residues was investigated. Samples of fly ash and bottom ash were collected from six incineration facilities across Sweden including two grate fired and four fluidized bed incinerators, to have a variation in the input fuel composition (from pure biofuel to mixture of waste) and different temperature boiler conditions. As trace element concentrations in the input waste at the same facilities have already been analyzed, the present study focuses on the concentration of trace elements in the waste fuel, their distribution in the incineration residues with respect to chlorine content of waste and combustion temperature. Results indicate that Zn, Cu and Pb are dominating trace elements in the waste fuel. Highly volatile elements mercury and cadmium are mainly found in fly ash in all cases; 2/3 of lead also end up in fly ash while Zn, As and Sb show a large variation in distribution with most of them residing in the fly ash. Lithophilic elements such as copper and chromium are mainly found in bottom ash from grate fired facilities while partition mostly into fly ash from fluidized bed incinerators, especially for plants fuelled by waste wood or ordinary wood chips. There is no specific correlation between input concentration of an element in the waste fuel and fraction partitioned to fly ash. Temperature and chlorine

Trace element partitioning in ashes from boilers firing pure wood or mixtures of solid waste with respect to fuel composition, chlorine content and temperature.

Science.gov (United States)

Saqib, Naeem; Bäckström, Mattias

2014-12-01

Trace element partitioning in solid waste (household waste, industrial waste, waste wood chips and waste mixtures) incineration residues was investigated. Samples of fly ash and bottom ash were collected from six incineration facilities across Sweden including two grate fired and four fluidized bed incinerators, to have a variation in the input fuel composition (from pure biofuel to mixture of waste) and different temperature boiler conditions. As trace element concentrations in the input waste at the same facilities have already been analyzed, the present study focuses on the concentration of trace elements in the waste fuel, their distribution in the incineration residues with respect to chlorine content of waste and combustion temperature. Results indicate that Zn, Cu and Pb are dominating trace elements in the waste fuel. Highly volatile elements mercury and cadmium are mainly found in fly ash in all cases; 2/3 of lead also end up in fly ash while Zn, As and Sb show a large variation in distribution with most of them residing in the fly ash. Lithophilic elements such as copper and chromium are mainly found in bottom ash from grate fired facilities while partition mostly into fly ash from fluidized bed incinerators, especially for plants fuelled by waste wood or ordinary wood chips. There is no specific correlation between input concentration of an element in the waste fuel and fraction partitioned to fly ash. Temperature and chlorine content have significant effects on partitioning characteristics by increasing the formation and vaporization of highly volatile metal chlorides. Zinc and cadmium concentrations in fly ash increase with the incineration temperature. Copyright © 2014 Elsevier Ltd. All rights reserved.

High salinity volatile phases in magmatic Ni-Cu-platinum group element deposits

Science.gov (United States)

Hanley, J. J.; Mungall, J. E.

2004-12-01

The role of "deuteric" fluids (exsolved magmatic volatile phases) in the development of Ni-Cu-PGE (platinum group element) deposits in mafic-ultramafic igneous systems is poorly understood. Although considerable field evidence demonstrates unambiguously that fluids modified most large primary Ni-Cu-PGE concentrations, models which hypothesize that fluids alone were largely responsible for the economic concentration of the base and precious metals are not widely accepted. Determination of the trace element composition of magmatic volatile phases in such ore-forming systems can offer considerable insight into the origin of potentially mineralizing fluids in such igneous environments. Laser ablation ICP-MS microanalysis allows researchers to confirm the original metal budget of magmatic volatile phases and quantify the behavior of trace ore metals in the fluid phase in the absence of well-constrained theoretical or experimental predictions of ore metal solubility. In this study, we present new evidence from major deposits (Sudbury, Ontario, Canada; Stillwater Complex, Montana, U.S.A.) that compositionally distinct magmatic brines and halide melt phases were exsolved from crystallizing residual silicate melt and trapped within high-T fluid conduits now comprised of evolved rock compositions (albite-quartz graphic granite, orthoclase-quartz granophyre). Petrographic evidence demonstrates that brines and halide melts coexisted with immiscible carbonic phases at the time of entrapment (light aliphatic hydrocarbons, CO2). Brine and halide melt inclusions are rich in Na, Fe, Mn, K, Pb, Zn, Ba, Sr, Al and Cl, and homogenize by either halite dissolution at high T ( ˜450-700° C) or by melting of the salt phase (700-800° C). LA-ICPMS analyses of single inclusions demonstrate that high salinity volatile phases contained abundant base metals (Cu, Fe, Sn, Bi) and precious metals (Pt, Pd, Au, Ag) at the time of entrapment. Notably, precious metal concentrations in the inclusions

Endogenous Lunar Volatiles

Science.gov (United States)

McCubbin, F. M.; Liu, Y.; Barnes, J. J.; Boyce, J. W.; Day, J. M. D.; Elardo, S. M.; Hui, H.; Magna, T.; Ni, P.; Tartese, R.;

Meteoritic Constraints on Models of the Solar Nebula: The Abundances of Moderately Volatile Elements

Science.gov (United States)

Cassen, Patrick; Cuzzi, Jeff (Technical Monitor)

1994-01-01

The "moderately volatile" elements are those which condense (or evaporate) in the temperature range 650 - 1350 K, as a mix of material with solar abundances is cooled (or heated) tinder equilibrium conditions. Their relative abundances in chondritic meteorites are solar (or "cosmic", as defined by the composition of Cl meteorites) to within a factor of several, but vary within that range in a way that correlates remarkably well with condensation temperature, independent of chemical affinity. It has been argued that this correlation reflects a systematically selective process which favored the accretion of refractory material over volatile material from a cooling nebula. Wasson and Chou (Meteoritics 9, 69-94, 1974, and Wasson and co-authors in subsequent papers) suggested that condensation and settling of solids contemporaneously with the cooling and removal of nebular gas could produce the observed abundance patterns, but a quantitative model has been lacking. We show that the abundance patterns of the moderately volatile elements in chondritic meteorites can be produced, in some degree of quantitative detail, by models of the solar nebula that are designed to conform to observations of T Tauri stars and the global conservation laws. For example, even if the local surface density of the nebula is not decreasing, condensation and accretion of solids from radially inflowing gas in a cooling nebula can result in depletions of volatiles, relative to refractories, like those observed, The details of the calculated abundance patterns depend on (but are not especially sensitive to) model parameters, and can exhibit the variations that distinguish the meteorite classes. Thus it appears that nebula characteristics such as cooling rates, radial flow velocities, and particle accumulation rates can be quantitatively constrained by demanding that they conform to meteoritic data; and the models, in turn, can produce testable hypotheses regarding the time and location of the

Distribution of volatile and non volatile elements in grain-size fractions of Apollo 17 drive tube 74001/2

International Nuclear Information System (INIS)

Kraehenbuehl, U.

1980-01-01

A study of four samples of double drive tube 74001/2 originating from 12, 25, 38, and 58 cm depths indicates that the concentrations of major and nonvolatile elements are fairly uniform for the four layers and the individual size fractions, while volatile elements as well as Au and Ir are enriched in the smaller grain-size fractions. It is concluded from the measured Au/Ir ratios and from the absence of a surface enrichment of Co that the material in the drive tube 74001/2 is not the result of an impact of an iron meteorite into a lava lake, but originated in at least three volcanic eruptions. No indication of a later disturbance of the stratigraphy of the layers is observed. Exposure ages of 345,000 and 225,000 years result from Ir deposits for the two layers of 74002

Egg deposition by lithophilic-spawning fishes in the Detroit and Saint Clair Rivers, 2005–14

Science.gov (United States)

Prichard, Carson G.; Craig, Jaquelyn M.; Roseman, Edward F.; Fischer, Jason L.; Manny, Bruce A.; Kennedy, Gregory W.

2017-03-14

A long-term, multiseason, fish egg sampling program conducted annually on the Detroit (2005–14) and Saint Clair (2010–14) Rivers was summarized to identify where productive fish spawning habitat currently exists. Egg mats were placed on the river bottom during the spring and fall at historic spawning areas and candidate fish spawning habitat restoration sites throughout both rivers. Widespread evidence was found of lithophilic spawning by numerous native fish species, including walleye (Sander vitreus), lake whitefish (Coregonus clupeaformis), lake sturgeon (Acipenser fulvescens), suckers (Catostomidae spp.), and trout-perch (Percopsis omiscomaycus). Walleye, lake whitefish, and suckers spp. spawned in nearly every region of each river in all years on both reef and nonreef substrates. Lake sturgeon eggs were collected almost exclusively over constructed reefs. Catch-per-unit effort of walleye, lake whitefish, and sucker eggs was much greater in the Detroit River than in the Saint Clair River, while Saint Clair River sites supported the greatest collections of lake sturgeon eggs. Collections during this study of lake sturgeon eggs on man-made spawning reefs suggest that artificial reefs may be an effective tool for restoring fish populations in the Detroit and Saint Clair Rivers; however, the quick response of lake sturgeon to spawn on newly constructed reefs and the fact that walleye, lake whitefish, and sucker eggs were often collected over substrate with little interstitial space to protect eggs from siltation and predators suggests that lack of suitable spawning habitat may continue to limit reproduction of lithophilic-spawning fish species in the Saint Clair-Detroit River System.

Uranium mineralization in fluorine-enriched volcanic rocks

Energy Technology Data Exchange (ETDEWEB)

Burt, D.M.; Sheridan, M.F.; Bikun, J.; Christiansen, E.; Correa, B.; Murphy, B.; Self, S.

1980-09-01

Several uranium and other lithophile element deposits are located within or adjacent to small middle to late Cenozoic, fluorine-rich rhyolitic dome complexes. Examples studied include Spor Mountain, Utah (Be-U-F), the Honeycomb Hills, Utah (Be-U), the Wah Wah Mountains, Utah (U-F), and the Black Range-Sierra Cuchillo, New Mexico (Sn-Be-W-F). The formation of these and similar deposits begins with the emplacement of a rhyolitic magma, enriched in lithophile metals and complexing fluorine, that rises to a shallow crustal level, where its roof zone may become further enriched in volatiles and the ore elements. During initial explosive volcanic activity, aprons of lithicrich tuffs are erupted around the vents. These early pyroclastic deposits commonly host the mineralization, due to their initial enrichment in the lithophile elements, their permeability, and the reactivity of their foreign lithic inclusions (particularly carbonate rocks). The pyroclastics are capped and preserved by thick topaz rhyolite domes and flows that can serve as a source of heat and of additional quantities of ore elements. Devitrification, vapor-phase crystallization, or fumarolic alteration may free the ore elements from the glassy matrix and place them in a form readily leached by percolating meteoric waters. Heat from the rhyolitic sheets drives such waters through the system, generally into and up the vents and out through the early tuffs. Secondary alteration zones (K-feldspar, sericite, silica, clays, fluorite, carbonate, and zeolites) and economic mineral concentrations may form in response to this low temperature (less than 200 C) circulation. After cooling, meteoric water continues to migrate through the system, modifying the distribution and concentration of the ore elements (especially uranium).

Uranium mineralization in fluorine-enriched volcanic rocks

International Nuclear Information System (INIS)

Burt, D.M.; Sheridan, M.F.; Bikun, J.; Christiansen, E.; Correa, B.; Murphy, B.; Self, S.

1980-09-01

Several uranium and other lithophile element deposits are located within or adjacent to small middle to late Cenozoic, fluorine-rich rhyolitic dome complexes. Examples studied include Spor Mountain, Utah (Be-U-F), the Honeycomb Hills, Utah (Be-U), the Wah Wah Mountains, Utah (U-F), and the Black Range-Sierra Cuchillo, New Mexico (Sn-Be-W-F). The formation of these and similar deposits begins with the emplacement of a rhyolitic magma, enriched in lithophile metals and complexing fluorine, that rises to a shallow crustal level, where its roof zone may become further enriched in volatiles and the ore elements. During initial explosive volcanic activity, aprons of lithicrich tuffs are erupted around the vents. These early pyroclastic deposits commonly host the mineralization, due to their initial enrichment in the lithophile elements, their permeability, and the reactivity of their foreign lithic inclusions (particularly carbonate rocks). The pyroclastics are capped and preserved by thick topaz rhyolite domes and flows that can serve as a source of heat and of additional quantities of ore elements. Devitrification, vapor-phase crystallization, or fumarolic alteration may free the ore elements from the glassy matrix and place them in a form readily leached by percolating meteoric waters. Heat from the rhyolitic sheets drives such waters through the system, generally into and up the vents and out through the early tuffs. Secondary alteration zones (K-feldspar, sericite, silica, clays, fluorite, carbonate, and zeolites) and economic mineral concentrations may form in response to this low temperature (less than 200 C) circulation. After cooling, meteoric water continues to migrate through the system, modifying the distribution and concentration of the ore elements

Volatile accretion history of the Earth.

Science.gov (United States)

Wood, B J; Halliday, A N; Rehkämper, M

2010-10-28

It has long been thought that the Earth had a protracted and complex history of volatile accretion and loss. Albarède paints a different picture, proposing that the Earth first formed as a dry planet which, like the Moon, was devoid of volatile constituents. He suggests that the Earth's complement of volatile elements was only established later, by the addition of a small veneer of volatile-rich material at ∼100 Myr (here and elsewhere, ages are relative to the origin of the Solar System). Here we argue that the Earth's mass balance of moderately volatile elements is inconsistent with Albarède's hypothesis but is well explained by the standard model of accretion from partially volatile-depleted material, accompanied by core formation.

Silicon isotopes in angrites and volatile loss in planetesimals

Science.gov (United States)

Moynier, Frédéric; Savage, Paul S.; Badro, James; Barrat, Jean-Alix

2014-01-01

Inner solar system bodies, including the Earth, Moon, and asteroids, are depleted in volatile elements relative to chondrites. Hypotheses for this volatile element depletion include incomplete condensation from the solar nebula and volatile loss during energetic impacts. These processes are expected to each produce characteristic stable isotope signatures. However, processes of planetary differentiation may also modify the isotopic composition of geochemical reservoirs. Angrites are rare meteorites that crystallized only a few million years after calcium–aluminum-rich inclusions and exhibit extreme depletions in volatile elements relative to chondrites, making them ideal samples with which to study volatile element depletion in the early solar system. Here we present high-precision Si isotope data that show angrites are enriched in the heavy isotopes of Si relative to chondritic meteorites by 50–100 ppm/amu. Silicon is sufficiently volatile such that it may be isotopically fractionated during incomplete condensation or evaporative mass loss, but theoretical calculations and experimental results also predict isotope fractionation under specific conditions of metal–silicate differentiation. We show that the Si isotope composition of angrites cannot be explained by any plausible core formation scenario, but rather reflects isotope fractionation during impact-induced evaporation. Our results indicate planetesimals initially formed from volatile-rich material and were subsequently depleted in volatile elements during accretion. PMID:25404309

Major, Trace, and Volatile (CO2, H2O, S, F, and Cl) Elements from 1000+ Hawaiian Olivine-hosted Melt Inclusions Reveal the Dynamics of Crustal Recycling

Science.gov (United States)

Marske, J. P.; Hauri, E. H.; Trusdell, F.; Garcia, M. O.; Pietruszka, A. J.

2015-12-01

Global cycling of volatile elements (H2O, CO2, F, S, Cl) via subduction to deep mantle followed by entrainment and melting within ascending mantle plumes is an enigmatic process that controls key aspects of hot spot volcanism (i.e. melting rate, magma supply, degassing, eruptive style). Variations in radiogenic isotope ratios (e.g.187Os/188Os) at hot spots such as Hawaii reveal magmatic processes within deep-seated mantle plumes (e.g. mantle heterogeneity, lithology, and melt transport). Shield-stage lavas from Hawaii likely originate from a mixed plume source containing peridotite and recycled oceanic crust (pyroxenite) based on variations of radiogenic isotopes. Hawaiian lavas display correlations among isotopes, major and trace elements [1] that might be expected to have an expression in the volatile elements. To investigate this link, we present Os isotopic ratios (n=51), and major, trace, and volatile elements from 1003 olivine-hosted melt inclusions (MI) and their host minerals from tephra from Koolau, Mauna Loa, Hualalai, Kilauea, and Loihi volcanoes. The data show a strong correlation between MI volatile contents and incompatible trace element ratios (La/Yb) with Os isotopes of the same host olivines and reveal large-scale volatile heterogeneity and zonation exists within the Hawaiian plume. 'Loa' chain lavas, which are thought to originate from greater proportions of recycled oceanic crust/pyroxenite, have MIs with lower H2O, S, F, and Cl contents compared to 'Kea' chain lavas that were derived from more peridotite-rich sources. The depletion of volatile elements in the 'Loa' volcano MIs can be explained if they tapped an ancient dehydrated oceanic crust component within the Hawaiian plume. Higher extents of melting beneath 'Loa' volcanoes can also explain these depletions. The presence of dehydrated recycled mafic material in the plume source suggests that subduction effectively devolatilizes part of the oceanic crust. These results are similar to the

Erosion of volatile elemental condensed gases by keV electron and light-ion bombardment

International Nuclear Information System (INIS)

Schou, J.

1991-11-01

Erosion of the most volatile elemental gases by keV electron and light-ion bombardment has been studied at the experimental setup at Risoe. The present work includes frozen neon, argon, krypton, nitrogen, oxygen and three hydrogen isotopes, deuterium, hydrogen deuteride and hydrogen. The yield of these condensed gases has been measured as a function of film thickness and primary energy for almost all combinations of primary particles (1-3 keV electrons, 5-10 keV hydrogen- and helium ions) and ices. These and other existing results show that there are substantial common features for the sputtering of frozen elemental gases. Within the two groups, the solid rare gases and the solid molecular gases, the similarity is striking. The hydrogenic solids deviate in some respects from the other elements. The processes that liberate kinetic energy for the particle ejection in sputtering are characteristic of the specific gas. (au) 3 tabs., 12 ills., 159 refs

Metal-Silicate-Sulfide Partitioning of U, Th, and K: Implications for the Budget of Volatile Elements in Mercury

Science.gov (United States)

Habermann, M.; Boujibar, A.; Righter, K.; Danielson, L.; Rapp, J.; Righter, M.; Pando, K.; Ross, D. K.; Andreasen, R.

2016-01-01

During formation of the solar system, the Sun produced strong solar winds, which stripped away a portion of the volatile elements from the forming planets. Hence, it was expected that planets closest to the sun, such as Mercury, are more depleted in volatile elements in comparison to other terrestrial planets. However, the MESSENGER mission detected higher than expected K/U and K/Th ratios on Mercury's surface, indicating a volatile content between that of Mars and Earth. Our experiments aim to resolve this discrepancy by experimentally determining the partition coefficients (D(sup met/sil)) of K, U, and Th between metal and silicate at varying pressure (1 to 5 GPa), temperature (1500 to 1900 C), oxygen fugacity (IW-2.5 to IW-6.5) and sulfur-content in the metal (0 to 33 wt%). Our data show that U, Th, and K become more siderophile with decreasing fO2 and increasing sulfur-content, with a stronger effect for U and Th in comparison to K. Using these results, the concentrations of U, Th, and K in the bulk planet were calculated for different scenarios, where the planet equilibrated at a fO2 between IW-4 and IW-7, assuming the existence of a FeS layer, between the core and mantle, with variable thickness. These models show that significant amounts of U and Th are partitioned into Mercury's core. The elevated superficial K/U and K/Th values are therefore only a consequence of the sequestration of U and Th into the core, not evidence of the overall volatile content of Mercury.

Submarine Alkalic Lavas Around the Hawaiian Hotspot; Plume and Non-Plume Signatures Determined by Noble Gases

Science.gov (United States)

Hanyu, T.; Clague, D. A.; Kaneoka, I.; Dunai, T. J.; Davies, G. R.

2004-12-01

Noble gas isotopic ratios were determined for submarine alkalic volcanic rocks distributed around the Hawaiian islands to constrain the origin of such alkalic volcanism. Samples were collected by dredging or using submersibles from the Kauai Channel between Oahu and Kauai, north of Molokai, northwest of Niihau, Southwest Oahu, South Arch and North Arch volcanic fields. Sites located downstream from the center of the hotspot have 3He/4He ratios close to MORB at about 8 Ra, demonstrating that the magmas erupted at these sites had minimum contribution of volatiles from a mantle plume. In contrast, the South Arch, located upstream of the hotspot on the Hawaiian Arch, has 3He/4He ratios between 17 and 21 Ra, indicating a strong plume influence. Differences in noble gas isotopic characteristics between alkalic volcanism downstream and upstream of the hotspot imply that upstream volcanism contains incipient melts from an upwelling mantle plume, having primitive 3He/4He. In combination with lithophile element isotopic data, we conclude that the most likely source of the upstream magmatism is depleted asthenospheric mantle that has been metasomatised by incipient melt from a mantle plume. After major melt extraction from the mantle plume during production of magmas for the shield stage, the plume material is highly depleted in noble gases and moderately depleted in lithophile elements. Partial melting of the depleted mantle impregnated by melts derived from this volatile depleted plume source may explain the isotopic characteristics of the downstream alkalic magmatism.

Volatilization behavior of semivolatile elements in vitrification of high-level liquid waste

International Nuclear Information System (INIS)

Igarashi, Hiroshi; Kato, Koh; Takahashi, Takeshi

1991-11-01

The effect of temperature on the volatilization of ruthenium, technetium, and selenium was observed in calcination experiments with simulated high-level liquid waste. Technetium and selenium were more volatile as calcining temperature increased. Ruthenium was less volatile when temperature exceeded 300degC. More than 80% of ruthenium that volatilized from room temperature to 500degC occurred between 200 and 300degC. A small amount of ruthenium volatilized above 300degC as well as below 135degC. (author)

Dynamic measurement of coal thermal properties and elemental composition of volatile matter during coal pyrolysis

Directory of Open Access Journals (Sweden)

Rohan Stanger

2014-01-01

Full Text Available A new technique that allows dynamic measurement of thermal properties, expansion and the elemental chemistry of the volatile matter being evolved as coal is pyrolysed is described. The thermal and other properties are measured dynamically as a function of temperature of the coal without the need for equilibration at temperature. In particular, the technique allows for continuous elemental characterisation of tars as they are evolved during pyrolysis and afterwards as a function of boiling point. The technique is demonstrated by measuring the properties of maceral concentrates from a coal. The variation in heats of reaction, thermal conductivity and expansion as a function of maceral composition is described. Combined with the elemental analysis, the results aid in the interpretation of the chemical processes contributing to the physical and thermal behaviour of the coal during pyrolysis. Potential applications in cokemaking studies are discussed.

Apatite/Melt Partitioning Experiments Reveal Redox Sensitivity to Cr, V, Mn, Ni, Eu, W, Th, and U

Science.gov (United States)

Righter, K.; Yang, S.; Humayun, M.

2016-01-01

Apatite is a common mineral in terrestrial, planetary, and asteroidal materials. It is commonly used for geochronology (U-Pb), sensing volatiles (H, F, Cl, S), and can concentrate rare earth elements (REE) during magmatic fractionation and in general. Some recent studies have shown that some kinds of phosphate may fractionate Hf and W and that Mn may be redox sensitive. Experimental studies have focused on REE and other lithophile elements and at simplified or not specified oxygen fugacities. There is a dearth of partitioning data for chalcophile, siderophile and other elements between apatite and melt. Here we carry out several experiments at variable fO2 to study the partitioning of a broad range of trace elements. We compare to existing data and then focus on several elements that exhibit redox dependent partitioning behavior.

Modelling of Equilibrium Between Mantle and Core: Refractory, Volatile, and Highly Siderophile Elements

Science.gov (United States)

Righter, K.; Danielson, L.; Pando, K.; Shofner, G.; Lee, C. -T.

2013-01-01

Siderophile elements have been used to constrain conditions of core formation and differentiation for the Earth, Mars and other differentiated bodies [1]. Recent models for the Earth have concluded that the mantle and core did not fully equilibrate and the siderophile element contents of the mantle can only be explained under conditions where the oxygen fugacity changes from low to high during accretion and the mantle and core do not fully equilibrate [2,3]. However these conclusions go against several physical and chemical constraints. First, calculations suggest that even with the composition of accreting material changing from reduced to oxidized over time, the fO2 defined by metal-silicate equilibrium does not change substantially, only by approximately 1 logfO2 unit [4]. An increase of more than 2 logfO2 units in mantle oxidation are required in models of [2,3]. Secondly, calculations also show that metallic impacting material will become deformed and sheared during accretion to a large body, such that it becomes emulsified to a fine scale that allows equilibrium at nearly all conditions except for possibly the length scale for giant impacts [5] (contrary to conclusions of [6]). Using new data for D(Mo) metal/silicate at high pressures, together with updated partitioning expressions for many other elements, we will show that metal-silicate equilibrium across a long span of Earth s accretion history may explain the concentrations of many siderophile elements in Earth's mantle. The modeling includes refractory elements Ni, Co, Mo, and W, as well as highly siderophile elements Au, Pd and Pt, and volatile elements Cd, In, Bi, Sb, Ge and As.

Organic and volatile elements in the solar system

Directory of Open Access Journals (Sweden)

Remusat L.

2012-01-01

Full Text Available Chondrites and comets have accreted primitive materials from the early solar system. Those materials include organics, water and other volatile components. The most primitive chondrites and comets have undergone few modifications on their respective parent bodies and can deliver to laboratories components that were present at the origin of the protosolar nebula. Here I present a review of the organic material and volatile components that have been studied in the most primitive chondrites, and the last data from the stardust mission about the cometary record. This paper focuses on materials that can be studied in laboratories, by mass spectrometry, ion probes or organic chemistry techniques.

Thermochromatography study of volatile polonium species in various gas atmospheres

CERN Document Server

Maugeri, Emilio Andrea; Eichler, Robert; Piguet,David; Mendonça, Tania Melo; Stora, Thierry; Schumann, Dorothea

2014-01-01

Phenomena related to the volatilization of polonium and its compounds are critical issues for the safety assessment of the innovative lead–bismuth cooled type of nuclear reactor or accelerator driven systems. The formation and volatilization of different species of polonium and their interaction with fused silica was studied by thermochromatography using carrier gases with varied redox potential. The obtained results show that under inert and reducing conditions in the absence of moisture, elemental polonium is formed. Polonium compounds more volatile than elemental polonium can be formed if traces of moisture are present in both inert and reducing carrier gas. The use of dried oxygen as carrier gas leads to the formation of polonium oxides, which are less volatile than elemental polonium. It was also found that the volatility of polonium oxides increases with increasing oxidation state. In the presence of moisture in an oxidizing carrier gas, species are formed that are more volatile than the oxides and le...

Volatility in GARCH Models of Business Tendency Index

Science.gov (United States)

Wahyuni, Dwi A. S.; Wage, Sutarman; Hartono, Ateng

2018-01-01

This paper aims to obtain a model of business tendency index by considering volatility factor. Volatility factor detected by ARCH (Autoregressive Conditional Heteroscedasticity). The ARCH checking was performed using the Lagrange multiplier test. The modeling is Generalized Autoregressive Conditional Heteroscedasticity (GARCH) are able to overcome volatility problems by incorporating past residual elements and residual variants.

Volatile Constituents, Inorganic Elements and Primary Screening of Bioactivity of Black Coral Cigarette Holders

Directory of Open Access Journals (Sweden)

Ganggang Shi

2011-05-01

Full Text Available Black corals (BC have been used for a long time in Chinese medicine, and may have some pharmaceutical functions when used as material for cigarette holders in southeast China. This study is aimed to investigate the bioactivities of volatile constituents in BC and to explore the folklore behind the use of BC cigarette holders (BCCHs. We extracted the volatile constituents of BC by supercritical fluid extraction (SFE with carbon dioxide (CO2-SFE, then identified and analyzed the constituents by gas chromatography-mass spectrometry (GC-MS. In total, 15 components were reliably identified in BC and found to be biologically active. These included triethyl phosphate, butylated hydroxytoluene, cedrol, n-hexadecanoic acid, squalene, and cholesterol. Meanwhile 13 inorganic elements (P, Ca, Mg, S, B, Si, Fe, Cu, Zn, Ba, etc. were determined by inductively coupled plasma spectrometer (ICPS. In the bioactivity tests, the BC extract (BCE showed a scavenging activity of 2,2-diphenyl-1-picrylhydrazyl free radicals and hydroxyl radicals by phenanthroline-Fe (II oxidation and moderate inhibition of Gram-positive microorganisms. The antioxidant and antimicrobial activities of BC, which are related to the active chemical composition, may explain the perceived benefit for cigarette smokers who use BCCHs.

Volatile (Cl, F and S) and major element constraints on subduction-related mantle metasomatism along the alkaline basaltic backarc, Payenia, Argentina

DEFF Research Database (Denmark)

Brandt, Frederik Ejvang; Holm, Paul Martin; Hansteen, Thor H.

2017-01-01

We present data on volatile (S, F and Cl) and major element contents in olivine-hosted melt inclusions (MIs) from alkaline basaltic tephras along the Quaternary Payenia backarc volcanic province (~34°S–38°S) of the Andean Southern Volcanic Zone (SVZ). The composition of Cr-spinel inclusions and h...

Stock return, seasonality and asymmetric conditional volatility in steel & iron subsector

Directory of Open Access Journals (Sweden)

V. Chirila

2015-01-01

Full Text Available This paper presents the results obtained following the testing of five hypotheses regarding conditional return and volatility of the most listed European stocks in the steel & iron subsector. The following elements of the stocks are analysed: time variation of volatility, seasonality of return and volatility, relationship between return and volatility and volatility asymmetry. The results obtained confirm for all the analyzed stocks the existence of volatility variation in time, the lack of correlation between return and volatility, the existence of asymmetry phenomenon of volatility and the presence in some stocks of the seasonality effect both for return and volatility.

Volatility of V15Cr5Ti fusion reactor alloy

International Nuclear Information System (INIS)

Neilson, R.M. Jr.

1986-01-01

One potential hazard from the presence of activation products in fusion facilities is accidental oxidation-driven volatility of those activation products. Scoping experiments were conducted to investigate the oxidation and elemental volatility of candidate fusion reactor alloy V15Cr5Ti as a function of time, temperature, and test atmosphere. Experiments in air and in argon carrier gases containing 10 4 to 10 1 Pa (10 -1 to 10 -4 atm) oxygen were conducted to investigate the lower oxygen partial pressure limit for the formation of a low melting point (approximately 650 0 C), high volatility, oxide layer and its formation rate. Experiments to determine the elemental volatility of alloy constituents in air at temperatures of 700 0 C to greater than 1600 0 C. Some of these volatility experiments used V15Cr5Ti that was arc-remelted to incorporate small quantities (<0.1 wt. %) of Sc and Ca. Incorporation of Sc and Ca in test specimens permitted volatility measurement of radioactive constituents present only after activation of V15Cr5Ti

A Method for Software Requirement Volatility Analysis Using QFD

Directory of Open Access Journals (Sweden)

Yunarso Anang

2016-10-01

Full Text Available Changes of software requirements are inevitable during the development life cycle. Rather than avoiding the circumstance, it is easier to just accept it and find a way to anticipate those changes. This paper proposes a method to analyze the volatility of requirement by using the Quality Function Deployment (QFD method and the introduced degree of volatility. Customer requirements are deployed to software functions and subsequently to architectural design elements. And then, after determining the potential for changes of the design elements, the degree of volatility of the software requirements is calculated. In this paper the method is described using a flow diagram and illustrated using a simple example, and is evaluated using a case study.

Volatile elements production rates in a 1.4 Gev proton-irradiated molten lead-bismuth target

CERN Document Server

Zanini, L; Everaerts, P; Fallot, M; Franberg, H; Gröschel, F; Jost, C; Kirchner, T; Kojima, Y; Köster, U; Lebenhaft, J; Manfrina, E; Pitcher, E J; Ravn, H L; Tall, Y; Wagner, W; Wohlmuther, M

2005-01-01

Production rates of volatile elements following spallation reaction of 1.4 GeV protons on a liquid Pb/Bi target have been measured. The experiment was performed at the ISOLDE facility at CERN. These data are of interest for the developments of targets for accelerator driven systems such as MEGAPIE. Additional data have been taken on a liquid Pb target. Calculations were performed using the FLUKA and MCNPX Monte Carlo codes coupled with the evolution codes ORIHET3 and FISPACT using different options for the intra-nuclear cascades and evaporation models. Preliminary results from the data analysis show good comparison with calculations for Hg and for noble gases. For other elements such as I it is apparent that only a fraction of the produced isotopes is released. The agreement with the experimental data varies depending on the model combination used. The best results are obtained using MCNPX with the INCL4/ABLA models and with FLUKA. Discrepancies are found for some isotopes produced by fission using the MCNPX ...

Measurement of Gas and Volatile Elements Production Cross Section in a Molten Lead-Bismuth Target

CERN Multimedia

2002-01-01

MEGAPIE is a project for a 1 MW liquid PbBi spallation source, to be built at the SINQ facility at the Paul Scherrer Institut, which will be an important step in the roadmap towards the demonstration of the ADS concept and high power molten metal targets in general. In the design and construction of such a challenging project it is extremely important to evaluate the amount and type of gas and volatile elements which will be produced, for a reliable and safe operation of the experiment. Both stable (H, $^{4}$He and other noble gases) and radioactive isotopes are of interest. Currently, different design options are under consideration to deal with the gas produced during operation. \\\\ For a correct estimation of the production cross sections, a measurement with a liquid PbBi target and a proton beam of energy close to the one of MEGAPIE (575 MeV) is necessary. We would like to use the ISOLDE facility, which offers the unique opportunity via its mass spectrometric analysis of the elements present in the gas pha...

A study based on trace elements of differentiated metabasic rocks from the Machado-MG region

International Nuclear Information System (INIS)

Choudhuri, A.; Carvalho, S.G. de.

1983-01-01

Large metabasic intrusive bodies occur in the Precambrian gneiss-migmatite basement around Poco Fundo - Campestre - Machado Triangle, south Minas Gerais. Separate occurrences consisting in each case of pyroxenite, metagabbro and amphibolite seem to be related to each other as is evident from their mineralogy, texture and trends of trace element concentration when plotted against their mg number (Mg/MgO + FeO mol.). Furthermore, their trace elements indicate that these rocks belong to a differentiated sequence resulting from separation of pyroxenes in situ. In spite of their high large ion lithophile element contents comparable to calc-alcaline rocks, the metabasic rocks show close resemblance to present-day mid-ocean ridge basalts when these are plotted in relevant variation diagrams. The tectonic implication of the observations is, however, not yet clear. (Author) [pt

Current status of fluoride volatility method development

Energy Technology Data Exchange (ETDEWEB)

Uhlir, J.; Marecek, M.; Skarohlid, J. [UJV - Nuclear Research Institute, Research Centre Rez, CZ-250 68 Husinec - Rez 130 (Czech Republic)

2013-07-01

The Fluoride Volatility Method is based on a separation process, which comes out from the specific property of uranium, neptunium and plutonium to form volatile hexafluorides whereas most of fission products (mainly lanthanides) and higher transplutonium elements (americium, curium) present in irradiated fuel form nonvolatile tri-fluorides. Fluoride Volatility Method itself is based on direct fluorination of the spent fuel, but before the fluorination step, the removal of cladding material and subsequent transformation of the fuel into a powdered form with a suitable grain size have to be done. The fluorination is made with fluorine gas in a flame fluorination reactor, where the volatile fluorides (mostly UF{sub 6}) are separated from the non-volatile ones (trivalent minor actinides and majority of fission products). The subsequent operations necessary for partitioning of volatile fluorides are the condensation and evaporation of volatile fluorides, the thermal decomposition of PuF{sub 6} and the finally distillation and sorption used for the purification of uranium product. The Fluoride Volatility Method is considered to be a promising advanced pyrochemical reprocessing technology, which can mainly be used for the reprocessing of oxide spent fuels coming from future GEN IV fast reactors.

2-22 Study of Oxidation/reduction Volatilization Technology

Institute of Scientific and Technical Information of China (English)

Tan; Cunmin[1; Cao; Shiwei[1; Tian; Yuan[1; Qin; Zhi[1

2015-01-01

As an advanced dry head-end processing of spent fuel reprocessing, the oxidation-reduction volatilization technology will use for pulverizing uranium oxide ceramic pellets, decladding, and removal of most of volatile and semi-volatile fission elements, 3H, 14C, Kr, Xe, I, Cs, Ru and Tc, from fuel prior to main treatment process. The AIROX and ORIOX process, including circulation of oxidation in oxygen atmosphere and reduction in hydrogen atmosphere, researched on international at present, is considered to be the first choice for head-end processing.

Chondritic Mn/Na ratio and limited post-nebular volatile loss of the Earth

Science.gov (United States)

Siebert, Julien; Sossi, Paolo A.; Blanchard, Ingrid; Mahan, Brandon; Badro, James; Moynier, Frédéric

2018-03-01

The depletion pattern of volatile elements on Earth and other differentiated terrestrial bodies provides a unique insight as to the nature and origin of planetary building blocks. The processes responsible for the depletion of volatile elements range from the early incomplete condensation in the solar nebula to the late de-volatilization induced by heating and impacting during planetary accretion after the dispersion of the H2-rich nebular gas. Furthermore, as many volatile elements are also siderophile (metal-loving), it is often difficult to deconvolve the effect of volatility from core formation. With the notable exception of the Earth, all the differentiated terrestrial bodies for which we have samples have non-chondritic Mn/Na ratios, taken as a signature of post-nebular volatilization. The bulk silicate Earth (BSE) is unique in that its Mn/Na ratio is chondritic, which points to a nebular origin for the depletion; unless the Mn/Na in the BSE is not that of the bulk Earth (BE), and has been affected by core formation through the partitioning of Mn in Earth's core. Here we quantify the metal-silicate partitioning behavior of Mn at deep magma ocean pressure and temperature conditions directly applicable to core formation. The experiments show that Mn becomes more siderophile with increasing pressure and temperature. Modeling the partitioning of Mn during core formation by combining our results with previous data at lower P-T conditions, we show that the core likely contains a significant fraction (20 to 35%) of Earth's Mn budget. However, we show that the derived Mn/Na value of the bulk Earth still lies on the volatile-depleted end of a trend defined by chondritic meteorites in a Mn/Na vs Mn/Mg plot, which tend to higher Mn/Na with increasing volatile depletion. This suggests that the material that formed the Earth recorded similar chemical fractionation processes for moderately volatile elements as chondrites in the solar nebula, and experienced limited post

Volatilization of iodine from soils and plants

International Nuclear Information System (INIS)

Wildung, R.E.; Cataldo, D.A.; Garland, T.R.

1985-04-01

Elevated levels of 129 I, a long-lived fission product, are present in the environment as a result of nuclear weapons testing and fuel reprocessing. To aid in understanding the anomalous behavior of this element, relative to natural I ( 127 I), in the vicinity of nuclear fuel reprocessing plants, preliminary laboratory-growth chamber studies were undertaken to examine the possible formation of volatile inorganic and organic I species in soil and plant systems. Inorganic 129 I added to soil was volatilized from both the soil and plant during plant growth, at average ratios of 2 x 10 -3 %/day soil and 9 x 10 -3 %/day foliage, respectively. Volatilization rates from soil were an order of magnitude less in the absence of growing roots. Less than 2% of soil or plant volatiles was subsequently retained by plant canopies. Volatile I, chemically characterized by selective sorption methods, consisted principally of alkyl iodides formed by both soil and plant processes. However, plants and soils containing actively growing roots produced a larger fraction of volatile inorganic I than soil alone. 14 refs., 1 fig., 3 tabs

Study of new technique of solid combustible materials to determination of volatile elements by flame atomic absorption spectrophotometry

International Nuclear Information System (INIS)

Campos, R.C. de.

1988-01-01

A new technique for direct trace element analysis of solid combustible materials is described. The samples (up to 10 mg) are weighed on a graphite platform wich is then placed in a quartz tube, at the focal point of three infrared lamps. When the lamps are turned on, the sample burns in a stream of air, and the resulting dry aerosol containing volatile elements such as Hg, Cd, Bi, Tl, Zn, Pb and Cu is carried into the mixing chamber and thence into the flame, where the atomic absorption measurement is carried out. This technique overcomes chemical sample preparation steps, avoiding contaminations of losses associated with these steps. A ''furnace in flame'' system where the aerosol is transported to a flame heated T-tube is also described. The influence of flame stoichiometry, observation height, platform material and air flux intensity was studied inorder to determine optimal analytical conditions. (author) [pt

The origin of volatiles in the Earth's mantle

Science.gov (United States)

Hier-Majumder, Saswata; Hirschmann, Marc M.

2017-08-01

The Earth's deep interior contains significant reservoirs of volatiles such as H, C, and N. Due to the incompatible nature of these volatile species, it has been difficult to reconcile their storage in the residual mantle immediately following crystallization of the terrestrial magma ocean (MO). As the magma ocean freezes, it is commonly assumed that very small amounts of melt are retained in the residual mantle, limiting the trapped volatile concentration in the primordial mantle. In this article, we show that inefficient melt drainage out of the freezing front can retain large amounts of volatiles hosted in the trapped melt in the residual mantle while creating a thick early atmosphere. Using a two-phase flow model, we demonstrate that compaction within the moving freezing front is inefficient over time scales characteristic of magma ocean solidification. We employ a scaling relation between the trapped melt fraction, the rate of compaction, and the rate of freezing in our magma ocean evolution model. For cosmochemically plausible fractions of volatiles delivered during the later stages of accretion, our calculations suggest that up to 77% of total H2O and 12% of CO2 could have been trapped in the mantle during magma ocean crystallization. The assumption of a constant trapped melt fraction underestimates the mass of volatiles in the residual mantle by more than an order of magnitude.Plain Language SummaryThe Earth's deep interior contains substantial amounts of volatile elements like C, H, and N. How these elements got sequestered in the Earth's interior has long been a topic of debate. It is generally assumed that most of these elements escaped the interior of the Earth during the first few hundred thousand years to create a primitive atmosphere, leaving the mantle reservoir nearly empty. In this work, we show that the key to this paradox involves the very early stages of crystallization of the mantle from a global magma ocean. Using numerical models, we show

Stochastic volatility of volatility in continuous time

DEFF Research Database (Denmark)

Barndorff-Nielsen, Ole; Veraart, Almut

This paper introduces the concept of stochastic volatility of volatility in continuous time and, hence, extends standard stochastic volatility (SV) models to allow for an additional source of randomness associated with greater variability in the data. We discuss how stochastic volatility...... of volatility can be defined both non-parametrically, where we link it to the quadratic variation of the stochastic variance process, and parametrically, where we propose two new SV models which allow for stochastic volatility of volatility. In addition, we show that volatility of volatility can be estimated...

On-line gas chromatographic studies of rutherfordium (Element 104), hahnium (Element 105), and homologs

International Nuclear Information System (INIS)

Kadkhodayan, B.

1993-05-01

Gas-phase isothermal chromatogaphy is a method by which volatile compounds of different chemical elements can be separated according to their volatilities. The technique, coupled with theoretical modeling of the processes occurring in the chromatogaphy column, provides accurate determination of thermodynamic properties (e.g., adsorption enthalpies) for compounds of elements, such as the transactinides, which can only be produced on an atom-at-a-time basis. In addition, the chemical selectivity of the isothermal chromatogaphy technique provides the decontamination from interfering activities necessary for the determination of the nuclear decay properties of isotopes of the transactinide elements. Volatility measurements were performed on chloride species of Rf and its group 4 homologs, Zr and Hf, as well as Ha and its group 5 homologs, Nb and Ta. Adsorption enthalpies were calculated for all species using a Monte Carlo code simulation based on a microscopic model for gas thermochromatography in open columns with laminar flow of the carrier gas. Preliminary results are presented for Zr- and Nb-bromides

Volatilization: a soil degassing coefficient for iodine

International Nuclear Information System (INIS)

Sheppard, M.I.; Thibault, D.H.; Smith, P.A.; Hawkins, J.L.

1994-01-01

Iodine, an element essential to some animals, is ubiquitous in the biosphere. Unlike other metallic elements, molecular I is volatile, and other inorganic species present in aerated soils, such as I - and IO 3 - , may also volatilize as hydrides, hydrogen iodide (HI), or hydrogen iodates (HIO 3 , HIO 4 ). Methyl iodide has been measured in soils, and it is likely evolved from soils and plants. The long-lived radioisotope 129 I is abundant in nuclear wastes, and its high solubility in groundwater makes it an important element in the performance assessment of underground disposal facilities. Overestimates of soil I residence half-times by traditional foodchain models may be due to underestimation of volatilization. Field and lysimeter experiments over a 3-year period, and direct trapping experiments in the laboratory are reported. The results, combined with values from the literature, indicate the soil I degassing coefficient for a wide range of soil types, vegetated and bare, wet and dry, is lognormally distributed with a geometric mean of 2.1 x 10 -2 year -1 , a range of 1.8 x 10 -4 to 3.1 year -1 and a geometric standard deviation of 3.0. The results of a biosphere model simulation including degassing reduces soil I concentrations fivefold and increases air concentrations 25-fold at steady state, compared to simulations without degassing. (author)

Mechanisms of chemical generation of volatile hydrides for trace element determination (IUPAC Technical Report)

Czech Academy of Sciences Publication Activity Database

D'Ulivo, A.; Dědina, Jiří; Mester, Z.; Sturgeon, R. E.; Wang, Q.; Welz, B.

2011-01-01

Roč. 83, č. 6 (2011), s. 1283-1340 ISSN 0033-4545 Institutional research plan: CEZ:AV0Z40310501 Keywords : borane complexes * chemical generation of volatile hydrides (CHG) * volatile hydrides Subject RIV: CB - Analytical Chemistry, Separation Impact factor: 2.789, year: 2011

Partitioning of elements during coal combustion and leaching experiments

Energy Technology Data Exchange (ETDEWEB)

Wang Wen-feng; Qin Yong; Song Dang-yu; Wang Jun-yi [China University of Mining & Technology, Xuzhou (China). School of Resources and Earth Science

2009-04-15

The mineral component and content of sulfur and 42 major and trace elements of the feed coal, fly and bottom ashes collected from Shizuishan coal-fired power plant, Ningxia, China were analyzed using AFS, INAA, ICP-MS, ICP-AES, XRD. Based on the coal combustion and leaching experiments, the partitioning of these elements during coal combustion and the leaching behavior of the 11 potentially hazardous elements, including As, Cd, Co, Cr, Hg, Mo, Ni, Pb, Se, Th and U were investigated. The results show that the distribution of elements in the fly and bottom ashes is controlled by their volatilities and modes of occurrence in the coal. The degree of volatilization of elements may be mainly associated with boiling/melting points of these elements and their compounds. The elements easily volatilized, organically bound or associated with sub-micrometer and nano minerals (e.g. Al and Na) tend to be enriched in the fine fractions of fly ash, and most elements do not vaporize which are approximately equally partitioned in the fly and bottom ashes. The emission rates of As, Cr, K, Mg, Mn, Mo, Pb, Sb, and Zn are notably influenced by the temperature ranging from 877 to 1300{sup o}C. The leaching behavior of elements depend significantly on their geochemical properties and modes of occurrence. The elements with a low degree of volatilization are not easily leached, while volatile elements easily leached under the acid conditions. Arsenic, B Br, Cd, Cu, Hg, Pb, S, Sb and Se show a higher emission rate during coal combustion, and the leached concentrations of Cd, Co, Mo, Ni and U in the acid media exceed their limited concentrations recommended in relevant environment quality standards for water, which will harm the environment. 32 refs., 4 figs., 4 tabs.

Measurements of gas and volatile element production rates from an irradiated molten lead and lead-bismuth spallation target with proton beams of 1 and 1.4 GeV; Mesures de taux de production d'elements gazeux et volatiles lors de reactions induites par des protons de 1 et 1,4 GeV sur des cibles epaisses de plomb et plomb-bismuth liquides

Energy Technology Data Exchange (ETDEWEB)

Tall, Y

2008-03-15

The integrated project EUROTRANS (European Research Programme for the Transmutation of High Level Nuclear Waste in an Accelerator Driven System) of the 6. EURATOM Framework Programme aims to demonstrate the transmutation of radioactive waste in ADS (Accelerator Driven Sub-critical system). It will carry out a first advanced design of an experimental facility to demonstrate the technical feasibility of transmutation, and will produce a conceptual design of an industrial facility dedicated to transmutation. An ADS consists of three fundamental elements: the accelerator of protons, the sub-critical core and the spallation target. SUBATECH (physique Sub-Atomique et des Technologies associees) laboratory is involved to the study of the chosen liquid lead-bismuth as a spallation ADS target. The irradiation of liquid lead-bismuth target with energetic proton beam generates in addition to neutrons, volatile and radioactive residues. In order to determine experimentally the production rates of gas and volatile elements following a spallation reaction in a lead-bismuth target, the experiment IS419 was performed at the ISOLDE facility at CERN (Centre Europeen de la Recherche Nucleaire). This experiment constitutes the frame of the thesis whose main objective is to assess and study the production and release rates of many gas and volatile element from the irradiated lead-bismuth target with an energetic proton beam. The obtained data are compared to Monte Carlo simulation code (MCNPX) results in order to test the intranuclear cascade model of Bertini and of Cugnon, and the evaporation options of Dresner and Schmidt. (author)

Gas phase chromatography of halides of elements 104 and 105

International Nuclear Information System (INIS)

Tuerler, A.; Gregorich, K.E.; Czerwinski, K.R.; Hannink, N.J.; Henderson, R.A.; Hoffman, D.C.; Kacher, C.D.; Kadkhodayan, B.; Kreek, S.A.; Lee, D.M.; Leyba, J.D.; Nurmia, M.J.; Gaeggeler, H.W.; Jost, D.T.; Kovacs, J.; Scherer, U.W.; Vermeulen, D.; Weber, A.; Barth, H.; Gober, M.K.; Kratz, J.V.; Bruechle, W.; Schaedel, M.; Schimpf, E.; Gober, M.K.; Kratz, J.V.; Zimmermann, H.P.

1991-04-01

On-line isothermal gas phase chromatography was used to study halides of 261 104 (T 1/2 = 65 s) and 262,263 105 (T 1/2 = 34 s and 27 s) produced an atom-at-a time via the reactions 248 Cm( 18 O, 5n) and 249 Bk( 18 O, 5n, 4n), respectively. Using HBr and HCl gas as halogenating agents, we were able to produce volatile bromides and chlorides of the above mentioned elements and study their behavior compared to their lighter homologs in Groups 4 or 5 of the periodic table. Element 104 formed more volatile bromides than its homolog Hf. In contrast, element 105 bromides were found to be less volatile than the bromides of the group 5 elements Nb and Ta. Both 104 and Hf chlorides were observed to be more volatile than their respective bromides. 31 refs., 8 figs

Measurements of gas and volatile element production rates from an irradiated molten lead and lead-bismuth spallation target with proton beams of 1 and 1.4 GeV

International Nuclear Information System (INIS)

Tall, Y.

2008-03-01

The integrated project EUROTRANS (European Research Programme for the Transmutation of High Level Nuclear Waste in an Accelerator Driven System) of the 6. EURATOM Framework Programme aims to demonstrate the transmutation of radioactive waste in ADS (Accelerator Driven Sub-critical system). It will carry out a first advanced design of an experimental facility to demonstrate the technical feasibility of transmutation, and will produce a conceptual design of an industrial facility dedicated to transmutation. An ADS consists of three fundamental elements: the accelerator of protons, the sub-critical core and the spallation target. SUBATECH (physique Sub-Atomique et des Technologies associees) laboratory is involved to the study of the chosen liquid lead-bismuth as a spallation ADS target. The irradiation of liquid lead-bismuth target with energetic proton beam generates in addition to neutrons, volatile and radioactive residues. In order to determine experimentally the production rates of gas and volatile elements following a spallation reaction in a lead-bismuth target, the experiment IS419 was performed at the ISOLDE facility at CERN (Centre Europeen de la Recherche Nucleaire). This experiment constitutes the frame of the thesis whose main objective is to assess and study the production and release rates of many gas and volatile element from the irradiated lead-bismuth target with an energetic proton beam. The obtained data are compared to Monte Carlo simulation code (MCNPX) results in order to test the intranuclear cascade model of Bertini and of Cugnon, and the evaporation options of Dresner and Schmidt. (author)

Chemical composition of HAL, an isotopically-unusual Allende inclusion

International Nuclear Information System (INIS)

Davis, A.M.; Tanaka, T.; Grossman, L.; Lee, T.; Wasserburg, G.J.

1982-01-01

Thirty-seven major, minor and trace elements were determined by INAA and RNAA in samples of hibonite, black rim and portions of friable rim from an unusual Allende inclusion, HAL. The peculiar isotopic, mineralogical and textural properties of HAL are accompanied by very unusual trace element abundances. The most striking feature of the chemistry is the virtual absence of Ce from an inclusion otherwise highly enriched in REE compared to C1 chondrites. HAL is also depleted in Sr, Ba, U, V, Ru, Os and Ir, relative to other refractory elements. Of the lithophile elements determined which are normally considered to be refractory in a gas of solar composition, Sr, Ba, Ce, U and V are the most volatile in oxidizing gases. The distribution of REE between hibonite and rims seems to have been established when hibonite and other refractory minerals were removed at slightly different temperatures from a hot, oxidizing gas in which they previously coexisted as separate grains. On the basis of HAL's chemical and isotopic composition, possible locations for the chemical and mass dependent isotopic fractionation are discussed. (author)

Ammonia volatilization from coated urea forms

Directory of Open Access Journals (Sweden)

Carlos Antonio Costa do Nascimento

2013-08-01

Full Text Available Nitrogen fertilization is a major component of the cost of agricultural production, due to the high cost and low efficiency of fertilizers. In the case of urea, the low efficiency is mainly due to losses by volatilization, which are more pronounced in cultivation systems in which plant residues are left on the soil. The objective of this work was to compare the influence of urea coated with sulfur or boric acid and copper sulfate with conventional N fertilizers on N volatilization losses in sugar cane harvested after stubble burning. The sources urea, sulfur-coated urea, urea coated with boric acid and copper sulfate, as well as nitrate and ammonium sulfate, were tested at amounts containing N rates of 120 kg ha-1 N. The integration of new technologies in urea fertilization can reduce N losses by volatilization. These losses were most reduced when using nitrate and ammonium sulfate. The application of a readily acidified substance (boric acid to urea was more efficient in reducing volatilization losses and nutrient removal by sugar cane than that of a substance with gradual acidification (elemental sulfur.

Autoradiographic methods for studying marked volatile substances (1961); Methode.d'etude autoradiographique de substances marquees volatiles (1961)

Energy Technology Data Exchange (ETDEWEB)

Cohen, Y; Wepierre, J [Commissariat a l' Energie Atomique, Saclay (France). Centre d' Etudes Nucleaires

1961-07-01

The autoradiographic methods for animals used up to the present do not make it possible to localise exactly the distribution of marked volatile molecules. The Ullberg method (1954) which we have modified (Cohen, Delassue, 1959) involves cold desiccant. The method due to Pellerin (1957) avoids this desiccant but the histological comparison of the autoradiography with the biological document itself is difficult, if not impossible. Nevertheless, we have adopted certain points in the two methods and propose the following technique for the autoradiographic study of marked volatile molecules: 1- The surface of the frozen sample to be studied is prepared using a freezing microtome. 2- The last section, which is 20 {mu} thick and whose histological elements are parallel to those of the block, is dried by cooling and is used as the biological reference document for the autoradiography obtained, as is indicated in 3; 3- The radiography films are applied to the frozen block at -30 deg. C. The autoradiographs correspond to the radioactivity of the volatile molecule and of its non-volatile degradation products. 4- The radiographic film is also applied to the 20 {mu} section previously dried at -20 deg. C. This autoradiography corresponds to the radioactivity of the non-volatile degradation products of the molecule. 5- We confirmed the absence of diffusion of the volatile molecule and of pseudo-radiographic effects (photochemical and others). This method, which has enabled us to study the distribution of a carbide, para-cymene (C{sup 14}) 7, macroscopically in the case of a whole mouse and microscopically on the skin of a dog, can find general applications. (authors) [French] Les methodes d'autoradiographies sur l'animal, proposees jusqu'a present, ne permettent pas de localiser de facon precise la distribution de molecules marquees volatiles. En effet, la methode de Ullberg (1954) que nous avons modifiee (Cohen, Delassue, 1959) necessite la dessiccation par le froid. La methode

Sources of Magmatic Volatiles Discharging from Subduction Zone Volcanoes

Science.gov (United States)

Fischer, T.

2001-05-01

Subduction zones are locations of extensive element transfer from the Earth's mantle to the atmosphere and hydrosphere. This element transfer is significant because it can, in some fashion, instigate melt production in the mantle wedge. Aqueous fluids are thought to be the major agent of element transfer during the subduction zone process. Volatile discharges from passively degassing subduction zone volcanoes should in principle, provide some information on the ultimate source of magmatic volatiles in terms of the mantle, the crust and the subducting slab. The overall flux of volatiles from degassing volcanoes should be balanced by the amount of volatiles released from the mantle wedge, the slab and the crust. Kudryavy Volcano, Kurile Islands, has been passively degassing at 900C fumarole temperatures for at least 40 years. Extensive gas sampling at this basaltic andesite cone and application of CO2/3He, N2/3He systematics in combination with C and N- isotopes indicates that 80% of the CO2 and approximately 60% of the N 2 are contributed from a sedimentary source. The mantle wedge contribution for both volatiles is, with 12% and 17% less significant. Direct volatile flux measurements from the volcano using the COSPEC technique in combination with direct gas sampling allows for the calculation of the 3He flux from the volcano. Since 3He is mainly released from the astenospheric mantle, the amount of mantle supplying the 3He flux can be determined if initial He concentrations of the mantle melts are known. The non-mantle flux of CO2 and N2 can be calculated in similar fashion. The amount of non-mantle CO2 and N2 discharging from Kudryavy is balanced by the amount of CO2 and N2 subducted below Kudryavy assuming a zone of melting constrained by the average spacing of the volcanoes along the Kurile arc. The volatile budget for Kudryavy is balanced because the volatile flux from the volcano is relatively small (75 t/day (416 Mmol/a) SO2, 360 Mmol/a of non-mantle CO2 and

Silicon isotopes in angrites and volatile loss in planetesimals

OpenAIRE

Pringle, Emily A.; Moynier, Frédéric; Savage, Paul S.; Badro, James; Barrat, Jean-Alix

2014-01-01

Understanding volatile elements in the early solar system is a key step toward understanding the processes of planetary formation and the composition of Earth, but the origin of volatiles on Earth is not well understood. In this article, we present measurements of silicon isotope ratios in angrites, a class of meteorites dating from the first few million years after condensation of solids from the solar nebula. We show that the silicon isotope composition of angrites is consistent with a depl...

Nonvolatile, semivolatile, or volatile: redefining volatile for volatile organic compounds.

Science.gov (United States)

Võ, Uyên-Uyén T; Morris, Michael P

2014-06-01

Although widely used in air quality regulatory frameworks, the term "volatile organic compound" (VOC) is poorly defined. Numerous standardized tests are currently used in regulations to determine VOC content (and thus volatility), but in many cases the tests do not agree with each other, nor do they always accurately represent actual evaporation rates under ambient conditions. The parameters (time, temperature, reference material, column polarity, etc.) used in the definitions and the associated test methods were created without a significant evaluation of volatilization characteristics in real world settings. Not only do these differences lead to varying VOC content results, but occasionally they conflict with one another. An ambient evaporation study of selected compounds and a few formulated products was conducted and the results were compared to several current VOC test methodologies: SCAQMD Method 313 (M313), ASTM Standard Test Method E 1868-10 (E1868), and US. EPA Reference Method 24 (M24). The ambient evaporation study showed a definite distinction between nonvolatile, semivolatile, and volatile compounds. Some low vapor pressure (LVP) solvents, currently considered exempt as VOCs by some methods, volatilize at ambient conditions nearly as rapidly as the traditional high-volatility solvents they are meant to replace. Conversely, bio-based and heavy hydrocarbons did not readily volatilize, though they often are calculated as VOCs in some traditional test methods. The study suggests that regulatory standards should be reevaluated to more accurately reflect real-world emission from the use of VOC containing products. The definition of VOC in current test methods may lead to regulations that exclude otherwise viable alternatives or allow substitutions of chemicals that may limit the environmental benefits sought in the regulation. A study was conducted to examine volatility of several compounds and a few formulated products under several current VOC test

Oxidation/volatilization rates in air for candidate fusion reactor blanket materials, PCA and HT-9

International Nuclear Information System (INIS)

Piet, S.J.; Kraus, H.G.; Neilson, R.M. Jr.; Jones, J.L.

1986-01-01

Large uncertainties exist in the quantity of neutron-induced activation products that can be mobilized in potential fusion accidents. The accidental combination of high temperatures and oxidizing conditions might lead to mobilization of a significant amount of activation products from structural materials. Here, the volatilization of constituents of PCA and HT-9 resulting from oxidation in air was investigated. Tests were conducted in flowing air at temperatures from 600 to 1300 0 C for 1, 5, or 20 hours. Elemental volatility was calculated in terms of the weight fraction of the element volatilized from the initial alloy. Molybdenum and manganese were the radiologically significant primary constituents most volatilized, suggesting that molybdenum and manganese should be minimized in fusion steel compositions. Higher chromium content appears beneficial in reducing hazards from mobile activation products. Scanning electron microscopy and energy dispersive spectroscopy were used to study the oxide layer on samples

Application of K0-NAA in the Determination of Gold and other Trace Elements in Mineralized Rocks from El-Sid Gold District, Eastern Desert, Egypt

International Nuclear Information System (INIS)

El Abd, A.; Hamdy, M.; Mostafa, M.; El-Amir, M.

2009-01-01

K 0 - neutron activation analysis is an important method for multi-element analysis . The NAA k - 0 was used to determine the concentration of gold and some other trace elements in the mineralized mafic (gabro) and ultramafic (serpentinite) rocks from El-Sid gold district, Central Eastern Desert, Egypt . The samples were properly prepared together with the standards Au, Zr and Ni and simultaneously irradiated in the irradiation position 2, which is characterized with the neutron spectrum parameters a = -0.01 and f =20. After activation, the samples were subjected to gamma-ray spectrometry, using a high-purity germanium detection system and computerized multichannel analyzer. The concentrations of 25 elements, beside gold were determined. The results showed that the concentrations of incompatible elements including rare earth elements, large-ion lithophile elements (Rb, Sr, Th, Ba, Cs and Na) and high field strength elements (Ta, Hf and Zr), and the compatible elements (transition elements Co and Cr) are different from one sample to another. The results were briefly discussed within the text of this research work.

Investigation of the impact of trace elements on anaerobic volatile fatty acid degradation using a fractional factorial experimental design.

Science.gov (United States)

Jiang, Ying; Zhang, Yue; Banks, Charles; Heaven, Sonia; Longhurst, Philip

2017-11-15

The requirement of trace elements (TE) in anaerobic digestion process is widely documented. However, little is understood regarding the specific requirement of elements and their critical concentrations under different operating conditions such as substrate characterisation and temperature. In this study, a flask batch trial using fractional factorial design is conducted to investigate volatile fatty acids (VFA) anaerobic degradation rate under the influence of the individual and combined effect of six TEs (Co, Ni, Mo, Se, Fe and W). The experiment inoculated with food waste digestate, spiked with sodium acetate and sodium propionate both to 10 g/l. This is followed by the addition of a selection of the six elements in accordance with a 2 6-2 fractional factorial principle. The experiment is conducted in duplicate and the degradation of VFA is regularly monitored. Factorial effect analysis on the experimental results reveals that within these experimental conditions, Se has a key role in promoting the degradation rates of both acetic and propionic acids; Mo and Co are found to have a modest effect on increasing propionic acid degradation rate. It is also revealed that Ni shows some inhibitory effects on VFA degradation, possibly due to its toxicity. Additionally, regression coefficients for the main and second order effects are calculated to establish regression models for VFA degradation. Copyright © 2017 Elsevier Ltd. All rights reserved.

Trace elements partitioning during coal combustion in fluidized bed under O{sub 2}/CO{sub 2} atmosphere

Energy Technology Data Exchange (ETDEWEB)

Li, Haixin; Zhao, Changsui; Liang, Cai; Duan, Lunbo; Chen, Huichao [Southeast Univ., Nanjing (China). School of Energy and Environment

2013-07-01

Experiments were conducted to investigate the effects of temperature and O{sub 2}/CO{sub 2} atmosphere on trace elements (Cr, Mn, Co, Ni, Cd, Pb, Hg, As, Se) partitioning during combustion of Xuzhou bituminous coal in a 6 kWth fluidized bed. Inductively coupled plasma mass spectrometry (ICP-MS) and atomic fluorescence spectrometry (AFS) were used to determine trace elements contents in raw coal, bottom ash, fly ash and flue gas. The results indicate that with bed temperature increase, the relative enrichment of all the trace elements except Cr in bottom ash decreases suggesting that their volatility is enhanced. The relative enrichments of hardly volatile elements, like Cr and Mn in fly ash increase with bed temperature increase while those of partially volatile and highly volatile elements in fly ash are opposite. The relative enrichments of trace elements except Cr and Mn in fly ash are higher than those in bottom ash. Increasing bed temperature promotes elements like As, Se and Hg to migrate to vapor phase, Mn to migrate to fly ash and Cr to migrate to both bottom ash and fly ash. 21%O{sub 2}/79%CO{sub 2} atmosphere improves the volatility of Cr, Mn, Co, Se and their migration to fly ash, while restrains the volatility of As, Ni, Pb. It has little effect on the volatility of Hg but improves its migration to fly ash. Mass balance ratio was also calculated to observe trace elements distribution in bottom ash, fly ash and flue gas. There is no much difference in trace elements distribution between the two atmospheres. It can be seen that the trace elements proportion in fly ash is much greater, and more than 40% of Hg is distributed in the gas phase. Most of Hg and Se volatilize during combustion. The mass balance ratios are 87 {proportional_to} 129% which is considered acceptable.

Volatile and non-volatile elements in grain-size separated samples of Apollo 17 lunar soils

International Nuclear Information System (INIS)

Giovanoli, R.; Gunten, H.R. von; Kraehenbuehl, U.; Meyer, G.; Wegmueller, F.; Gruetter, A.; Wyttenbach, A.

1977-01-01

Three samples of Apollo 17 lunar soils (75081, 72501 and 72461) were separated into 9 grain-size fractions between 540 and 1 μm mean diameter. In order to detect mineral fractionations caused during the separation procedures major elements were determined by instrumental neutron activation analyses performed on small aliquots of the separated samples. Twenty elements were measured in each size fraction using instrumental and radiochemical neutron activation techniques. The concentration of the main elements in sample 75081 does not change with the grain-size. Exceptions are Fe and Ti which decrease slightly and Al which increases slightly with the decrease in the grain-size. These changes in the composition in main elements suggest a decrease in Ilmenite and an increase in Anorthite with decreasing grain-size. However, it can be concluded that the mineral composition of the fractions changes less than a factor of 2. Samples 72501 and 72461 are not yet analyzed for the main elements. (Auth.)

Pricing Volatility of Stock Returns with Volatile and Persistent Components

DEFF Research Database (Denmark)

Zhu, Jie

In this paper a two-component volatility model based on the component's first moment is introduced to describe the dynamic of speculative return volatility. The two components capture the volatile and persistent part of volatility respectively. Then the model is applied to 10 Asia-Pacific stock m......, a positive or risk-premium effect exists between return and the volatile component, yet the persistent component is not significantly priced for return dynamic process....... markets. Their in-mean effects on return are also tested. The empirical results show that the persistent component accounts much more for volatility dynamic process than the volatile component. However the volatile component is found to be a significant pricing factor of asset returns for most markets...

Method for refreshing a non-volatile memory

Science.gov (United States)

Riekels, James E.; Schlesinger, Samuel

2008-11-04

A non-volatile memory and a method of refreshing a memory are described. The method includes allowing an external system to control refreshing operations within the memory. The memory may generate a refresh request signal and transmit the refresh request signal to the external system. When the external system finds an available time to process the refresh request, the external system acknowledges the refresh request and transmits a refresh acknowledge signal to the memory. The memory may also comprise a page register for reading and rewriting a data state back to the memory. The page register may comprise latches in lieu of supplemental non-volatile storage elements, thereby conserving real estate within the memory.

Exploring heterogeneous market hypothesis using realized volatility

Science.gov (United States)

Chin, Wen Cheong; Isa, Zaidi; Mohd Nor, Abu Hassan Shaari

2013-04-01

This study investigates the heterogeneous market hypothesis using high frequency data. The cascaded heterogeneous trading activities with different time durations are modelled by the heterogeneous autoregressive framework. The empirical study indicated the presence of long memory behaviour and predictability elements in the financial time series which supported heterogeneous market hypothesis. Besides the common sum-of-square intraday realized volatility, we also advocated two power variation realized volatilities in forecast evaluation and risk measurement in order to overcome the possible abrupt jumps during the credit crisis. Finally, the empirical results are used in determining the market risk using the value-at-risk approach. The findings of this study have implications for informationally market efficiency analysis, portfolio strategies and risk managements.

Testing for Volatility Co-movement in Bivariate Stochastic Volatility Models

OpenAIRE

Chen, Jinghui; Kobayashi, Masahito; McAleer, Michael

2017-01-01

markdownabstractThe paper considers the problem of volatility co-movement, namely as to whether two financial returns have perfectly correlated common volatility process, in the framework of multivariate stochastic volatility models and proposes a test which checks the volatility co-movement. The proposed test is a stochastic volatility version of the co-movement test proposed by Engle and Susmel (1993), who investigated whether international equity markets have volatility co-movement using t...

Oil and stock market volatility: A multivariate stochastic volatility perspective

International Nuclear Information System (INIS)

Vo, Minh

2011-01-01

This paper models the volatility of stock and oil futures markets using the multivariate stochastic volatility structure in an attempt to extract information intertwined in both markets for risk prediction. It offers four major findings. First, the stock and oil futures prices are inter-related. Their correlation follows a time-varying dynamic process and tends to increase when the markets are more volatile. Second, conditioned on the past information, the volatility in each market is very persistent, i.e., it varies in a predictable manner. Third, there is inter-market dependence in volatility. Innovations that hit either market can affect the volatility in the other market. In other words, conditioned on the persistence and the past volatility in their respective markets, the past volatility of the stock (oil futures) market also has predictive power over the future volatility of the oil futures (stock) market. Finally, the model produces more accurate Value-at-Risk estimates than other benchmarks commonly used in the financial industry. - Research Highlights: → This paper models the volatility of stock and oil futures markets using the multivariate stochastic volatility model. → The correlation between the two markets follows a time-varying dynamic process which tends to increase when the markets are more volatile. → The volatility in each market is very persistent. → Innovations that hit either market can affect the volatility in the other market. → The model produces more accurate Value-at-Risk estimates than other benchmarks commonly used in the financial industry.

Universal scaling behaviors of meteorological variables’ volatility and relations with original records

Science.gov (United States)

Lu, Feiyu; Yuan, Naiming; Fu, Zuntao; Mao, Jiangyu

2012-10-01

Volatility series (defined as the magnitude of the increments between successive elements) of five different meteorological variables over China are analyzed by means of detrended fluctuation analysis (DFA for short). Universal scaling behaviors are found in all volatility records, whose scaling exponents take similar distributions with similar mean values and standard deviations. To reconfirm the relation between long-range correlations in volatility and nonlinearity in original series, DFA is also applied to the magnitude records (defined as the absolute values of the original records). The results clearly indicate that the nonlinearity of the original series is more pronounced in the magnitude series.

Pricing Volatility of Stock Returns with Volatile and Persistent Components

DEFF Research Database (Denmark)

Zhu, Jie

2009-01-01

This paper introduces a two-component volatility model based on first moments of both components to describe the dynamics of speculative return volatility. The two components capture the volatile and the persistent part of volatility, respectively. The model is applied to 10 Asia-Pacific stock ma...... markets. A positive or risk-premium effect exists between the return and the volatile component, yet the persistent component is not significantly priced for the return dynamic process....... markets. Their in-mean effects on returns are tested. The empirical results show that the persistent component is much more important for the volatility dynamic process than is the volatile component. However, the volatile component is found to be a significant pricing factor of asset returns for most...

Volatility in energy prices

International Nuclear Information System (INIS)

Duffie, D.

1999-01-01

This chapter with 58 references reviews the modelling and empirical behaviour of volatility in energy prices. Constant volatility and stochastic volatility are discussed. Markovian models of stochastic volatility are described and the different classes of Markovian stochastic volatility model are examined including auto-regressive volatility, option implied and forecasted volatility, Garch volatility, Egarch volatility, multivariate Garch volatility, and stochastic volatility and dynamic hedging policies. Other volatility models and option hedging are considered. The performance of several stochastic volatility models as applied to heating oil, light oil, natural gas, electricity and light crude oil are compared

Role of Non-Volatile Memories in Automotive and IoT Markets

Science.gov (United States)

2017-03-01

Standard Manufacturing Supply Long Term Short to Medium Term Density Up to 16MB Up to 2MB IO Configuration Up to x128 Up to x32 Design for Test...Role of Non-Volatile Memories in Automotive and IoT Markets Vipin Tiwari Director, Business Development and Product Marketing SST – A Wholly Own...microcontrollers (MCU) and certainly one of the most challenging elements to master. This paper addresses the role of non-volatile memories for

Volatility Discovery

DEFF Research Database (Denmark)

Dias, Gustavo Fruet; Scherrer, Cristina; Papailias, Fotis

The price discovery literature investigates how homogenous securities traded on different markets incorporate information into prices. We take this literature one step further and investigate how these markets contribute to stochastic volatility (volatility discovery). We formally show...... that the realized measures from homogenous securities share a fractional stochastic trend, which is a combination of the price and volatility discovery measures. Furthermore, we show that volatility discovery is associated with the way that market participants process information arrival (market sensitivity......). Finally, we compute volatility discovery for 30 actively traded stocks in the U.S. and report that Nyse and Arca dominate Nasdaq....

Level Shifts in Volatility and the Implied-Realized Volatility Relation

DEFF Research Database (Denmark)

Christensen, Bent Jesper; de Magistris, Paolo Santucci

We propose a simple model in which realized stock market return volatility and implied volatility backed out of option prices are subject to common level shifts corresponding to movements between bull and bear markets. The model is estimated using the Kalman filter in a generalization to the mult......We propose a simple model in which realized stock market return volatility and implied volatility backed out of option prices are subject to common level shifts corresponding to movements between bull and bear markets. The model is estimated using the Kalman filter in a generalization...... to the multivariate case of the univariate level shift technique by Lu and Perron (2008). An application to the S&P500 index and a simulation experiment show that the recently documented empirical properties of strong persistence in volatility and forecastability of future realized volatility from current implied...... volatility, which have been interpreted as long memory (or fractional integration) in volatility and fractional cointegration between implied and realized volatility, are accounted for by occasional common level shifts....

Testing for Volatility Co-movement in Bivariate Stochastic Volatility Models

NARCIS (Netherlands)

J. Chen (Jinghui); M. Kobayashi (Masahito); M.J. McAleer (Michael)

2017-01-01

markdownabstractThe paper considers the problem of volatility co-movement, namely as to whether two financial returns have perfectly correlated common volatility process, in the framework of multivariate stochastic volatility models and proposes a test which checks the volatility co-movement. The

Volatilization mechanism of certain elements in a method of semiquantitative spectrographic analysis; Mecanismo de volatilizacion de ciertos elementos en un metodo de analisis espectrografico semicuantitativo

Energy Technology Data Exchange (ETDEWEB)

Diaz-Guerra, J P

1972-07-01

The efficiency of the compounds GeO{sub 2}, Li{sub 2}B{sub 4}O{sub 7}, Li{sub 2}CO{sub 3}, SiO{sub 2} and SrCO{sub 3} as spectrochemical buffers, in the development of a semiquantitative spectrographic method of analysis, that can be applied to the determination of 47 elements in different matrices, has been tested. It has been shown that trough the use of Li{sub 2}B{sub 4}O{sub 7} or Geo{sub 2} adequate accuracy is obtained, attaining with the latter the detection of much lower concentrations, specially for the elements Mo. Ti, V and W. In order to account for the different behaviour of these elements their volatilization mechanism has been studied. MoB{sub 2}, TiB{sub 2}, VB{sub 2}.{delta}WB and {epsilon}-WB were found, by x-ray diffraction analysis, to be reaction products in the case of mixtures with Li{sub 2}B{sub 4}O{sub 7}. (Author)

Ferroelectric tunneling element and memory applications which utilize the tunneling element

Science.gov (United States)

Kalinin, Sergei V [Knoxville, TN; Christen, Hans M [Knoxville, TN; Baddorf, Arthur P [Knoxville, TN; Meunier, Vincent [Knoxville, TN; Lee, Ho Nyung [Oak Ridge, TN

2010-07-20

A tunneling element includes a thin film layer of ferroelectric material and a pair of dissimilar electrically-conductive layers disposed on opposite sides of the ferroelectric layer. Because of the dissimilarity in composition or construction between the electrically-conductive layers, the electron transport behavior of the electrically-conductive layers is polarization dependent when the tunneling element is below the Curie temperature of the layer of ferroelectric material. The element can be used as a basis of compact 1R type non-volatile random access memory (RAM). The advantages include extremely simple architecture, ultimate scalability and fast access times generic for all ferroelectric memories.

Study of mobilization and speciation of trace elements in coal pyrolysis

International Nuclear Information System (INIS)

Ting, B.T.G.

1979-01-01

Various types of coal contain high levels of a number of trace elements. Little is known of the fates of these trace elements during the conversion of coal to liquid and gaseous products. Studies were undertaken of mobilization and speciation of trace elements in coal pyrolysis, one of the major coal conversion processes. The bituminous coal was pyrolyzed to produce liquid and gaseous products. The pyrolysis products were collected in traps in an inert gas stream. In addition mildly hydrogenated coal was prepared by mixing with tetralin, a hydrogen donor solvent, at boiling temperature. In order to characterize each element specifically during pyrolysis, base samples of coal and mildly hydrogenated coal (H-coal) were spiked with heavy metal sulfides, trace metals bound to partially oxidized coal (coal humates), and halide salts prior to carrying out pyrolysis. Eight elements were investigated in this research. They are As, Br, Cl, Co, Cr, Mn, Se, and V. Pre-spiked hydrogenated coal, i.e., pulverized coal spiked with halide salts and heavy metal sulfides then hydrogenated with tetralin, was prepared and studied for the fates of these elements during pyrolysis. Chlorinated and brominated coals were also prepared to compare the volatility differences between organically and inorganically bound halogens during the pyrolysis reaction. These products and the coal char residues were analyzed for the spiked elements mainly by neutron activation analysis for the spiked elements to determine their degree of volatility. Volatility and recovery (mass balance) will be discussed for those elements that appeared highly volatile during pyrolysis. In order to understand the halogenated compounds in the pyrolysis products, gas chromatograms were taken to the collected pyrolysis products of coal, hydrogenated coal, NaCl spiked coal, NaBr spiked coal, chlorinated coal, and brominated coal

Elemental composition of Usnea sp lichen from Potter Peninsula, 25 de Mayo (King George) Island, Antarctica

International Nuclear Information System (INIS)

Bubach, Débora; Catán, Soledad Perez; Di Fonzo, Carla; Dopchiz, Laura

2016-01-01

Several pollutants, which include metals, are present in the Antarctic atmosphere, snow, marine and terrestrial organisms. This work reports the elements incorporated by Usnea sp thalli in Potter Peninsula, 25 de Mayo (King George) Island, South Shetlands, Antarctica. Geological origin was analyzed as possible sources of elements. For this purpose, correlations were done using a geochemical tracer, principal component analysis and enrichment factors were computed. Lithophile elements from particulate matter were present in most of the sampling sites. Bromine, Se and Hg showed the highest enrichment factors suggesting other sources than the particulate matter. Mercury values found in Usnea sp were in the same range as those reported for Deception Island (South Shetlands) and remote areas from the Patagonia Andes. - Highlights: • Hg enrichment factor was higher in ASPA than in human settlements area. • The elemental composition in Usnea sp from Antarctica reflected the human influence. • Bromine, Ca, Sr, Se, Fe, Hg and K contents indicated origins natural and anthropic. • The data will be considered as baselines for Potter Peninsula, King George Island. - This study provides recent element contents in Usnea sp from Potter Peninsula, South Shetland Islands, Antarctica. Some of them are the first concentration reported by Argentina.

Volatility from copper and tungsten alloys for fusion reactor applications

International Nuclear Information System (INIS)

Smolik, G.R.; Neilson, R.M. Jr.; Piet, S.J.

1989-01-01

Accident scenarios for fusion power plants present the potential for release and transport of activated constituents volatilized from first wall and structural materials. The extent of possible mobilization and transport of these activated species, many of which are ''oxidation driven'', is being addressed by the Fusion Safety Program at the Idaho National Engineering Laboratory (INEL). This report presents experimental measurements of volatilization from a copper alloy in air and steam and from a tungsten alloy in air. The major elements released included zinc from the copper alloy and rhenium and tungsten from the tungsten alloy. Volatilization rates of several constituents of these alloys over temperatures ranging from 400 to 1200 degree C are presented. These values represent release rates recommended for use in accident assessment calculations. 8 refs., 3 figs., 5 tabs

Range-based volatility, expected stock returns, and the low volatility anomaly

Science.gov (United States)

2017-01-01

One of the foundations of financial economics is the idea that rational investors will discount stocks with more risk (volatility), which will result in a positive relation between risk and future returns. However, the empirical evidence is mixed when determining how volatility is related to future returns. In this paper, we examine this relation using a range-based measure of volatility, which is shown to be theoretically, numerically, and empirically superior to other measures of volatility. In a variety of tests, we find that range-based volatility is negatively associated with expected stock returns. These results are robust to time-series multifactor models as well as cross-sectional tests. Our findings contribute to the debate about the direction of the relationship between risk and return and confirm the presence of the low volatility anomaly, or the anomalous finding that low volatility stocks outperform high volatility stocks. In other tests, we find that the lower returns associated with range-based volatility are driven by stocks with lottery-like characteristics. PMID:29190652

Range-based volatility, expected stock returns, and the low volatility anomaly.

Science.gov (United States)

Blau, Benjamin M; Whitby, Ryan J

2017-01-01

One of the foundations of financial economics is the idea that rational investors will discount stocks with more risk (volatility), which will result in a positive relation between risk and future returns. However, the empirical evidence is mixed when determining how volatility is related to future returns. In this paper, we examine this relation using a range-based measure of volatility, which is shown to be theoretically, numerically, and empirically superior to other measures of volatility. In a variety of tests, we find that range-based volatility is negatively associated with expected stock returns. These results are robust to time-series multifactor models as well as cross-sectional tests. Our findings contribute to the debate about the direction of the relationship between risk and return and confirm the presence of the low volatility anomaly, or the anomalous finding that low volatility stocks outperform high volatility stocks. In other tests, we find that the lower returns associated with range-based volatility are driven by stocks with lottery-like characteristics.

Range-based volatility, expected stock returns, and the low volatility anomaly.

Directory of Open Access Journals (Sweden)

Benjamin M Blau

Full Text Available One of the foundations of financial economics is the idea that rational investors will discount stocks with more risk (volatility, which will result in a positive relation between risk and future returns. However, the empirical evidence is mixed when determining how volatility is related to future returns. In this paper, we examine this relation using a range-based measure of volatility, which is shown to be theoretically, numerically, and empirically superior to other measures of volatility. In a variety of tests, we find that range-based volatility is negatively associated with expected stock returns. These results are robust to time-series multifactor models as well as cross-sectional tests. Our findings contribute to the debate about the direction of the relationship between risk and return and confirm the presence of the low volatility anomaly, or the anomalous finding that low volatility stocks outperform high volatility stocks. In other tests, we find that the lower returns associated with range-based volatility are driven by stocks with lottery-like characteristics.

Pricing Volatility Referenced Assets

Directory of Open Access Journals (Sweden)

Alan De Genaro Dario

2006-12-01

Full Text Available Volatility swaps are contingent claims on future realized volatility. Variance swaps are similar instruments on future realized variance, the square of future realized volatility. Unlike a plain vanilla option, whose volatility exposure is contaminated by its asset price dependence, volatility and variance swaps provide a pure exposure to volatility alone. This article discusses the risk-neutral valuation of volatility and variance swaps based on the framework outlined in the Heston (1993 stochastic volatility model. Additionally, the Heston (1993 model is calibrated for foreign currency options traded at BMF and its parameters are used to price swaps on volatility and variance of the BRL / USD exchange rate.

Hygroscopicity and ammonia volatilization losses from nitrogen sources in coated urea

Directory of Open Access Journals (Sweden)

Letícia de Abreu Faria

2014-06-01

Full Text Available Hygroscopic fertilizers tend to absorb moisture from the air and may have undesirable characteristics such as moistness, clumping and lower fluidity, hampering the application. The increasing use of urea is due to its numerous advantages, although this nitrogen (N source is highly susceptible to volatilization losses, particularly when applied to the soil surface of management systems with conservation of crop residues. The volatilization losses can be minimized by slow or controlled-release fertilizers, with controlled water solubility of the urea-coating materials; and by stabilized fertilizers, which prolong the period during which N remains in the amide or ammonia forms by urease inhibitors. This study evaluated the hygroscopicity of and ammonia volatilization from urea coated with boric acid and copper sulfate or with sulfur. The hygroscopicity of the sources was evaluated over time after exposure to five levels of relative humidity (RH and volatilization evaluated after application to the soil surface covered with sugarcane trash. Ammonium nitrate has a low potential for volatilization losses, but is highly hygroscopic. Although coating with boric acid and copper sulfate or elemental sulfur reduced the critical humidity level of urea, the delay in the volatilization process is a potential positive factor.

Behaviour of Rare Earth Elements during the Earth's core formation

Science.gov (United States)

Faure, Pierre; Bouhifd, Mohamed Ali; Boyet, Maud; Hammouda, Tahar; Manthilake, Geeth

2017-04-01

Rare Earth Elements (REE) are classified in the refractory group, which means that they have a high temperature condensation and their volatility-controlled fractionation is limited to high-temperature processes. Anomalies have been measured for Eu, Yb and Sm, which are the REE with the lowest condensation temperatures in CAIs and chondrules (e.g. [1]). REE are particularly abundant in the sulfides of enstatite chondrites, 100 to 1000 times the CI value [e.g. 2,3], proving that these elements are not strictly lithophile under extremely reducing conditions. However by investigating experimentally the impact of Earth's core formation on the behavior of Sm and Nd, we have shown the absence of fractionation between Sm and Nd during the segregation of the metallic phase [4]. Recently, Wohlers and Wood [5] proposed that Nd and Sm could be fractionated in presence of a S-rich alloy phase. However, their results were obtained at pressure and temperature conditions below the plausible conditions of the Earth's core formation. Clearly, large pressure range needs to be covered before well-constrained model can be expected. Furthermore, our preliminary metal-silicate partitioning results show that Ce and Eu have higher metal/silicate partition coefficients than their neighboring elements, and that the presence of sulphur enhances the relative difference between partition coefficients. In this presentation, we will present and discuss new metal-silicate partition coefficients of all REE at a deep magma ocean at pressures ranging from those of the uppermost upper mantle ( 5 GPa) to a maximum pressure expected in the range of 20 GPa, temperatures ranging from 2500 to about 3000 K, and oxygen fugacities within IW-1 to IW-5 (1 to 5 orders of magnitude lower than the iron-wüstite buffer). We will discuss the effect of S, as well as the effect of H2O on the behaviour of REE during the Earth's core formation: recent models suggest that contrary to currently accepted beliefs, the

Autoradiographic methods for studying marked volatile substances (1961)

International Nuclear Information System (INIS)

Cohen, Y.; Wepierre, J.

1961-01-01

The autoradiographic methods for animals used up to the present do not make it possible to localise exactly the distribution of marked volatile molecules. The Ullberg method (1954) which we have modified (Cohen, Delassue, 1959) involves cold desiccant. The method due to Pellerin (1957) avoids this desiccant but the histological comparison of the autoradiography with the biological document itself is difficult, if not impossible. Nevertheless, we have adopted certain points in the two methods and propose the following technique for the autoradiographic study of marked volatile molecules: 1- The surface of the frozen sample to be studied is prepared using a freezing microtome. 2- The last section, which is 20 μ thick and whose histological elements are parallel to those of the block, is dried by cooling and is used as the biological reference document for the autoradiography obtained, as is indicated in 3; 3- The radiography films are applied to the frozen block at -30 deg. C. The autoradiographs correspond to the radioactivity of the volatile molecule and of its non-volatile degradation products. 4- The radiographic film is also applied to the 20 μ section previously dried at -20 deg. C. This autoradiography corresponds to the radioactivity of the non-volatile degradation products of the molecule. 5- We confirmed the absence of diffusion of the volatile molecule and of pseudo-radiographic effects (photochemical and others). This method, which has enabled us to study the distribution of a carbide, para-cymene (C 14 ) 7, macroscopically in the case of a whole mouse and microscopically on the skin of a dog, can find general applications. (authors) [fr

Volatile and non-volatile/semi-volatile compounds and in vitro bioactive properties of Chilean Ulmo (Eucryphia cordifolia Cav.) honey.

Science.gov (United States)

Acevedo, Francisca; Torres, Paulina; Oomah, B Dave; de Alencar, Severino Matias; Massarioli, Adna Prado; Martín-Venegas, Raquel; Albarral-Ávila, Vicenta; Burgos-Díaz, César; Ferrer, Ruth; Rubilar, Mónica

2017-04-01

Ulmo honey originating from Eucryphia cordifolia tree, known locally in the Araucania region as the Ulmo tree is a natural product with valuable nutritional and medicinal qualities. It has been used in the Mapuche culture to treat infections. This study aimed to identify the volatile and non-volatile/semi-volatile compounds of Ulmo honey and elucidate its in vitro biological properties by evaluating its antioxidant, antibacterial, antiproliferative and hemolytic properties and cytotoxicity in Caco-2 cells. Headspace volatiles of Ulmo honey were isolated by solid-phase microextraction (SPME); non-volatiles/semi-volatiles were obtained by removing all saccharides with acidified water and the compounds were identified by GC/MS analysis. Ulmo honey volatiles consisted of 50 compounds predominated by 20 flavor components. Two of the volatile compounds, lyrame and anethol have never been reported before as honey compounds. The non-volatile/semi-volatile components of Ulmo honey comprised 27 compounds including 13 benzene derivatives accounting 75% of the total peak area. Ulmo honey exhibited weak antioxidant activity but strong antibacterial activity particularly against gram-negative bacteria and methicillin-resistant Staphylococcus aureus (MRSA), the main strain involved in wounds and skin infections. At concentrations >0.5%, Ulmo honey reduced Caco-2 cell viability, released lactate dehydrogenase (LDH) and increased reactive oxygen species (ROS) production in a dose dependent manner in the presence of foetal bovine serum (FBS). The wide array of volatile and non-volatile/semi-volatile constituents of Ulmo honey rich in benzene derivatives may partly account for its strong antibacterial and antiproliferative properties important for its therapeutic use. Our results indicate that Ulmo honey can potentially inhibit cancer growth at least partly by modulating oxidative stress. Copyright © 2017 Elsevier Ltd. All rights reserved.

Oxidation/volatilization rates in air for candidate fusion reactor blanket materials, PCA and HT-9

International Nuclear Information System (INIS)

Piet, S.J.; Kraus, H.G.; Neilson, R.M. Jr.; Jones, J.L.

1986-01-01

Large uncertainties exist in the quantity of neutron-induced activation products that can be mobilized in potential fusion accidents. The accidental combination of high temperatures and oxidizing conditions might lead to mobilization of a significant amount of activation products from structural materials. Here, the volatilization of constituents of PCA and HT-9 resulting from oxidation in air was investigated. Tests were conducted in flowing air at temperatures from 600 to 1300 0 C for 1, 5, or 20 h. Elemental volatility was calculated in terms of the weight fraction of the element volatilized from the initial alloy. Molybdenum and manganese were the radiologically significant primary constituents most volatilizized, suggesting that molybdenum and manganese should be minimized in fusion steel compositions. Higher chromium content appears beneficial in reducing hazards from mobile activation products. Scanning electron microscopy and energy dispersive spectroscopy were used to study the oxide layer on samples. (orig.)

Heavy coal combustion as the dominant source of particulate pollution in Taiyuan, China, corroborated by high concentrations of arsenic and selenium in PM10

International Nuclear Information System (INIS)

Xie, RuiKai; Seip, Hans Martin; Wibetoe, Grethe; Nori, Showan; McLeod, Cameron William

2006-01-01

Coal burning generates toxic elements, some of which are characteristic of coal combustion such as arsenic and selenium, besides conventional coal combustion products. Airborne particulate samples with aerodynamic diameter less than 10 μm (PM 10 ) were collected in Taiyuan, China, and multi-element analyses were performed by inductively coupled plasma atomic emission spectrometry (ICP-AES) and inductively coupled plasma mass spectrometry (ICP-MS). Concentrations of arsenic and selenium from ambient air in Taiyuan (average 43 and 58 ng m -3 , respectively) were relatively high compared to what is reported elsewhere. Arsenic and selenium were found to be highly correlated (r=0.997), indicating an overwhelmingly dominant source. Correlation between these two chalcophile elements and the lithophile element Al is high (r is 0.75 and 0.72 for As and Se, respectively). This prompted the hypothesis that the particles were from coal combustion. The enrichment of the trace elements could be explained by the volatilization-condensation mechanism during coal combustion process. Even higher correlations of arsenic and selenium with PM 10 (r=0.90 and 0.88) give further support that airborne particulate pollution in Taiyuan is mainly a direct result of heavy coal consumption. This conclusion agrees with the results from our previous study of individual airborne particles in Taiyuan. (author)

Iodine volatility

International Nuclear Information System (INIS)

Beahm, E.C.; Shockley, W.E.

1984-01-01

The ultimate aim of this program is to couple experimental aqueous iodine volatilities to a fission product release model. Iodine partition coefficients, for inorganic iodine, have been measured during hydrolysis and radiolysis. The hydrolysis experiments have illustrated the importance of reaction time on iodine volatility. However, radiolysis effects can override hydrolysis in determining iodine volatility. In addition, silver metal in radiolysis samples can react to form silver iodide accompanied by a decrease in iodine volatility. Experimental data are now being coupled to an iodine transport and release model that was developed in the Federal Republic of Germany

Asymmetric Realized Volatility Risk

Directory of Open Access Journals (Sweden)

David E. Allen

2014-06-01

Full Text Available In this paper, we document that realized variation measures constructed from high-frequency returns reveal a large degree of volatility risk in stock and index returns, where we characterize volatility risk by the extent to which forecasting errors in realized volatility are substantive. Even though returns standardized by ex post quadratic variation measures are nearly Gaussian, this unpredictability brings considerably more uncertainty to the empirically relevant ex ante distribution of returns. Explicitly modeling this volatility risk is fundamental. We propose a dually asymmetric realized volatility model, which incorporates the fact that realized volatility series are systematically more volatile in high volatility periods. Returns in this framework display time varying volatility, skewness and kurtosis. We provide a detailed account of the empirical advantages of the model using data on the S&P 500 index and eight other indexes and stocks.

It’s all about volatility of volatility

DEFF Research Database (Denmark)

Grassi, Stefano; Santucci de Magistris, Paolo

2015-01-01

The persistent nature of equity volatility is investigated by means of a multi-factor stochastic volatility model with time varying parameters. The parameters are estimated by means of a sequential matching procedure which adopts as auxiliary model a time-varying generalization of the HAR model f...

Latent Integrated Stochastic Volatility, Realized Volatility, and Implied Volatility: A State Space Approach

DEFF Research Database (Denmark)

Bach, Christian; Christensen, Bent Jesper

process is downward biased. Implied volatility performs better than any of the alternative realized measures when forecasting future integrated volatility. The results are largely similar across the stock market (S&P 500), bond market (30-year U.S. T-bond), and foreign currency exchange market ($/£ )....

DOES ENERGY CONSUMPTION VOLATILITY AFFECT REAL GDP VOLATILITY? AN EMPIRICAL ANALYSIS FOR THE UK

Directory of Open Access Journals (Sweden)

Abdul Rashid

2013-10-01

Full Text Available This paper empirically examines the relation between energy consumption volatility and unpredictable variations in real gross domestic product (GDP in the UK. Estimating the Markov switching ARCH model we find a significant regime switching in the behavior of both energy consumption and GDP volatility. The results from the Markov regime-switching model show that the variability of energy consumption has a significant role to play in determining the behavior of GDP volatilities. Moreover, the results suggest that the impacts of unpredictable variations in energy consumption on GDP volatility are asymmetric, depending on the intensity of volatility. In particular, we find that while there is no significant contemporaneous relationship between energy consumption volatility and GDP volatility in the first (low-volatility regime, GDP volatility is significantly positively related to the volatility of energy utilization in the second (high-volatility regime.

Measurements of non-volatile aerosols with a VTDMA and their correlations with carbonaceous aerosols in Guangzhou, China

Science.gov (United States)

Cheung, Heidi H. Y.; Tan, Haobo; Xu, Hanbing; Li, Fei; Wu, Cheng; Yu, Jian Z.; Chan, Chak K.

2016-07-01

Simultaneous measurements of aerosol volatility and carbonaceous matters were conducted at a suburban site in Guangzhou, China, in February and March 2014 using a volatility tandem differential mobility analyzer (VTDMA) and an organic carbon/elemental carbon (OC / EC) analyzer. Low volatility (LV) particles, with a volatility shrink factor (VSF) at 300 °C exceeding 0.9, contributed 5 % of number concentrations of the 40 nm particles and 11-15 % of the 80-300 nm particles. They were composed of non-volatile material externally mixed with volatile material, and therefore did not evaporate significantly at 300 °C. Non-volatile material mixed internally with the volatile material was referred to as medium volatility (MV, 0.4 transported at low altitudes (below 1500 m) for over 40 h before arrival. Further comparison with the diurnal variations in the mass fractions of EC and the non-volatile OC in PM2.5 suggests that the non-volatile residuals may be related to both EC and non-volatile OC in the afternoon, during which the concentration of aged organics increased. A closure analysis of the total mass of LV and MV residuals and the mass of EC or the sum of EC and non-volatile OC was conducted. It suggests that non-volatile OC, in addition to EC, was one of the components of the non-volatile residuals measured by the VTDMA in this study.

Collisional erosion and the non-chondritic composition of the terrestrial planets.

Science.gov (United States)

O'Neill, Hugh St C; Palme, Herbert

2008-11-28

The compositional variations among the chondrites inform us about cosmochemical fractionation processes during condensation and aggregation of solid matter from the solar nebula. These fractionations include: (i) variable Mg-Si-RLE ratios (RLE: refractory lithophile element), (ii) depletions in elements more volatile than Mg, (iii) a cosmochemical metal-silicate fractionation, and (iv) variations in oxidation state. Moon- to Mars-sized planetary bodies, formed by rapid accretion of chondrite-like planetesimals in local feeding zones within 106 years, may exhibit some of these chemical variations. However, the next stage of planetary accretion is the growth of the terrestrial planets from approximately 102 embryos sourced across wide heliocentric distances, involving energetic collisions, in which material may be lost from a growing planet as well as gained. While this may result in averaging out of the 'chondritic' fractionations, it introduces two non-chondritic chemical fractionation processes: post-nebular volatilization and preferential collisional erosion. In the latter, geochemically enriched crust formed previously is preferentially lost. That post-nebular volatilization was widespread is demonstrated by the non-chondritic Mn/Na ratio in all the small, differentiated, rocky bodies for which we have basaltic samples, including the Moon and Mars. The bulk silicate Earth (BSE) has chondritic Mn/Na, but shows several other compositional features in its pattern of depletion of volatile elements suggestive of non-chondritic fractionation. The whole-Earth Fe/Mg ratio is 2.1+/-0.1, significantly greater than the solar ratio of 1.9+/-0.1, implying net collisional erosion of approximately 10 per cent silicate relative to metal during the Earth's accretion. If this collisional erosion preferentially removed differentiated crust, the assumption of chondritic ratios among all RLEs in the BSE would not be valid, with the BSE depleted in elements according to their

Experimental Study of the Partitioning of Siderophile Elements in a Crystallizing Lunar Magma Ocean

Science.gov (United States)

Galenas, M.; Righter, K.; Danielson, L.; Pando, K.; Walker, R. J.

2012-01-01

The distributions of trace elements between the lunar interior and pristine crustal rocks were controlled by the composition of starting materials, lunar core formation, and crystallization of the lunar magma ocean (LMO) [1]. This study focuses on the partitioning of highly siderophile elements (HSE) including Re, Os, Ir, Ru, Pt, Rh, Pd and Au as well as the moderately siderophile elements Mo and W, and the lithophile elements of Hf and Sr. Our experiments also include Ga, which can be slightly siderophile, but is mostly considered to be chalcophile. Partitioning of these elements is not well known at the conditions of a crystallizing LMO. Previous studies of HSE partitioning in silicate systems have yielded highly variable results for differing oxygen fugacity (fO2) and pressure [2-4]. For example, under certain conditions Pt is compatible in clinopy-roxene [2] and Rh and Ru are compatible in olivine [3]. The silicate compositions used for these experiments were nominally basaltic. Ruthenium, Rh, and Pd are incompatible in plagioclase under these conditions[4]. However, this latter study was done at extremely oxidizing conditions and at atmospheric pressure, possibly limiting the applicability for consideration of conditions of a crystallizing LMO. In this study we address the effects of pressure and oxygen fugacity on the crystal/liquid partition coefficients of these trace elements. We are especially interested in the plagioclase/melt partition coefficients so that it may be possible to use reverse modeling to constrain the concentrations of these elements in the lunar mantle through their abundances in pristine crustal rocks.

Angrites: A Volatile-rich Variety of Asteroidal Basalt (Except for Alkalis and Gallium!)

Science.gov (United States)

Warren, P. H.; Kallemeyn, G. W.

1995-09-01

Angrites are commonly viewed as extremely volatile-depleted, and a related notion is that they formed by differentiation of a very CAI-rich material [e.g., 1]. Partial melting experiments reportedly reproduce the bulk compositions (although not fassaite-rich mineralogy) of angrites with Allende as starting material [2], but highly CAI-rich parent materials are difficult to reconcile with isotopic and REE data [3,4]. Mittlefehldt and Lindstrom [5] inferred from the low Na/Al ratios of angrites that outgassing, and thus primordial magmatism, was more intense on their parent body than on the eucrite parent asteroid. Of seven elements that (a) have been adequately determined in angrites, and (b) are far more volatile (solar-nebula 50% condensation T [6] = 690-430 K) than the alkalis (1000-910 K), four are enriched, and none is significantly depleted, in average angrite compared to average eucrite or low-Ti mare basalt (Figure). Gallium, which is of intermediate volatility (830 K), is depleted to roughly the same extent as Na and K. Results for A881371 [3] are incomplete (Zn, 6 micrograms/g, is near INAA detection limit), but even based only on AdoR and the two LEW angrites, this pattern seems firmly established. Apparent gas cavities in A881371 [7] also suggest that volatiles are far from uniformly depleted. The only elements known to be depleted, as volatiles, by clearly significant factors in angrites versus eucrites or lunar basalts, are alkalis plus gallium. Besides being moderately volatile, a noteworthy characteristic shared among Ga and alkalis (and not shared with elements such as Br, Se, and Zn) is that these elements probably tend to partition into crustal feldspar during gross differentiation of small (low-pressure) bodies. If gallium + alkalis were depleted by a single process starting from "normal" chondritic material, that process would seem to require selective exposure of a feldspar-enriched region (i.e., crust) to extremely high temperature. Igneous

Realized Volatility Risk

NARCIS (Netherlands)

D.E. Allen (David); M.J. McAleer (Michael); M. Scharth (Marcel)

2013-01-01

textabstractIn this paper we document that realized variation measures constructed from highfrequency returns reveal a large degree of volatility risk in stock and index returns, where we characterize volatility risk by the extent to which forecasting errors in realized volatility are substantive.

Halogens in chondritic meteorites and terrestrial accretion

Science.gov (United States)

Clay, Patricia L.; Burgess, Ray; Busemann, Henner; Ruzié-Hamilton, Lorraine; Joachim, Bastian; Day, James M. D.; Ballentine, Christopher J.

2017-11-01

Volatile element delivery and retention played a fundamental part in Earth’s formation and subsequent chemical differentiation. The heavy halogens—chlorine (Cl), bromine (Br) and iodine (I)—are key tracers of accretionary processes owing to their high volatility and incompatibility, but have low abundances in most geological and planetary materials. However, noble gas proxy isotopes produced during neutron irradiation provide a high-sensitivity tool for the determination of heavy halogen abundances. Using such isotopes, here we show that Cl, Br and I abundances in carbonaceous, enstatite, Rumuruti and primitive ordinary chondrites are about 6 times, 9 times and 15-37 times lower, respectively, than previously reported and usually accepted estimates. This is independent of the oxidation state or petrological type of the chondrites. The ratios Br/Cl and I/Cl in all studied chondrites show a limited range, indistinguishable from bulk silicate Earth estimates. Our results demonstrate that the halogen depletion of bulk silicate Earth relative to primitive meteorites is consistent with the depletion of lithophile elements of similar volatility. These results for carbonaceous chondrites reveal that late accretion, constrained to a maximum of 0.5 ± 0.2 per cent of Earth’s silicate mass, cannot solely account for present-day terrestrial halogen inventories. It is estimated that 80-90 per cent of heavy halogens are concentrated in Earth’s surface reservoirs and have not undergone the extreme early loss observed in atmosphere-forming elements. Therefore, in addition to late-stage terrestrial accretion of halogens and mantle degassing, which has removed less than half of Earth’s dissolved mantle gases, the efficient extraction of halogen-rich fluids from the solid Earth during the earliest stages of terrestrial differentiation is also required to explain the presence of these heavy halogens at the surface. The hydropilic nature of halogens, whereby they track

Virtual volatility

Science.gov (United States)

Silva, A. Christian; Prange, Richard E.

2007-03-01

We introduce the concept of virtual volatility. This simple but new measure shows how to quantify the uncertainty in the forecast of the drift component of a random walk. The virtual volatility also is a useful tool in understanding the stochastic process for a given portfolio. In particular, and as an example, we were able to identify mean reversion effect in our portfolio. Finally, we briefly discuss the potential practical effect of the virtual volatility on an investor asset allocation strategy.

Superheavy Elements Challenge Experimental and Theoretical Chemistry

CERN Document Server

Zvára, I

2003-01-01

When reflecting on the story of superheavy elements, the an experimenter, acknowledges the role, which the predictions of nuclear and chemical theories have played in ongoing studies. Today, the problems of major interest for experimental chemistry are the studies of elements 112 and 114 including their chemical identification. Advanced quantum chemistry calculations of atoms and molecules would be of much help. First experiments with element 112 evidence that the metal is much more volatile and inert than mercury.

Realized volatility and absolute return volatility: a comparison indicating market risk.

Science.gov (United States)

Zheng, Zeyu; Qiao, Zhi; Takaishi, Tetsuya; Stanley, H Eugene; Li, Baowen

2014-01-01

Measuring volatility in financial markets is a primary challenge in the theory and practice of risk management and is essential when developing investment strategies. Although the vast literature on the topic describes many different models, two nonparametric measurements have emerged and received wide use over the past decade: realized volatility and absolute return volatility. The former is strongly favored in the financial sector and the latter by econophysicists. We examine the memory and clustering features of these two methods and find that both enable strong predictions. We compare the two in detail and find that although realized volatility has a better short-term effect that allows predictions of near-future market behavior, absolute return volatility is easier to calculate and, as a risk indicator, has approximately the same sensitivity as realized volatility. Our detailed empirical analysis yields valuable guidelines for both researchers and market participants because it provides a significantly clearer comparison of the strengths and weaknesses of the two methods.

Realized volatility and absolute return volatility: a comparison indicating market risk.

Directory of Open Access Journals (Sweden)

Zeyu Zheng

Full Text Available Measuring volatility in financial markets is a primary challenge in the theory and practice of risk management and is essential when developing investment strategies. Although the vast literature on the topic describes many different models, two nonparametric measurements have emerged and received wide use over the past decade: realized volatility and absolute return volatility. The former is strongly favored in the financial sector and the latter by econophysicists. We examine the memory and clustering features of these two methods and find that both enable strong predictions. We compare the two in detail and find that although realized volatility has a better short-term effect that allows predictions of near-future market behavior, absolute return volatility is easier to calculate and, as a risk indicator, has approximately the same sensitivity as realized volatility. Our detailed empirical analysis yields valuable guidelines for both researchers and market participants because it provides a significantly clearer comparison of the strengths and weaknesses of the two methods.

Unstable volatility

DEFF Research Database (Denmark)

Casas, Isabel; Gijbels, Irène

2012-01-01

The objective of this paper is to introduce the break-preserving local linear (BPLL) estimator for the estimation of unstable volatility functions for independent and asymptotically independent processes. Breaks in the structure of the conditional mean and/or the volatility functions are common...... in Finance. Nonparametric estimators are well suited for these events due to the flexibility of their functional form and their good asymptotic properties. However, the local polynomial kernel estimators are not consistent at points where the volatility function has a break. The estimator presented...

Pluto's Volatile Transport

Science.gov (United States)

Young, Leslie

2012-10-01

Pluto's varying subsolar latitude and heliocentric distance leads to large variations in the surface volatile distribution and surface pressure. I present results of new volatile transport models (Young 2012a, b). The models include insolation, thermal emission, subsurface conduction, heating of a volatile slab, internal heat flux, latent heat of sublimation, and strict global mass balance. Numeric advances include initial conditions that allow for rapid convergence, efficient computation with matrix arithmetic, and stable Crank-Nicholson timesteps for both bare and volatile-covered areas. Runs of the model show six distinct seasons on Pluto. (1) As Pluto approaches perihelion, the volatiles on the old winter pole (the Rotational North Pole, RNP) becomes more directly illuminated , and the pressure and albedo rise rapidly. (2) When a new ice cap forms on the Rotational South Pole, RSP, volatiles are exchanged between poles. The pressure and albedo change more slowly. (3) When all volatiles have sublimed from the RNP, the albedo and pressure drop rapidly. (4-6) A similar pattern is repeated near aphelion with a reversal of the roles and the poles. I will compare results with earlier Pluto models of Hansen and Paige (1996), show the dependence on parameters such as substrate inertia, and make predictions for the New Horizons flyby of Pluto in 2015. This work was supported, in part, by funding from NASA Planetary Atmospheres Grant NNG06GF32G and the Spitzer project (JPL research support Agreement 1368573). Hansen, C. J. and D. A. Paige 1996. Seasonal Nitrogen Cycles on Pluto. Icarus 120, 247-265. Young, L. A. 2012a. Volatile transport on inhomogeneous surfaces: I - Analytic expressions, with application to Pluto’s day. Icarus, in press Young, L. A. 2012b. Volatile transport on inhomogeneous surfaces: II. Numerical calculations, with application to Pluto's season. In preparation.

Volatile and Isotopic Imprints of Ancient Mars

Science.gov (United States)

Mahaffy, Paul R.; Conrad, Pamela G.

2015-01-01

The science investigations enabled by Curiosity rover's instruments focus on identifying and exploring the habitability of the Martian environment. Measurements of noble gases, organic and inorganic compounds, and the isotopes of light elements permit the study of the physical and chemical processes that have transformed Mars throughout its history. Samples of the atmosphere, volatiles released from soils, and rocks from the floor of Gale Crater have provided a wealth of new data and a window into conditions on ancient Mars.

Thermodynamic modeling of volatile hazardous metal behavior in the Vortec Vitrification System

International Nuclear Information System (INIS)

Nowok, J.W.; Hurley, J.P.

2000-01-01

The thermochemical equilibrium calculations indicate that at the temperature of a propane--air flame, some volatilization of uranium, plutonium, technetium, and cesium will occur. The expected concentrations of plutonium, technetium, and cesium in the flame will be very low because of the small maximum concentration of these elements in the projected feed materials for the first 30-day test. The quantities volatilized can generally be decreased by operating the flame in a fuel-rich mode, although this will lead to greater carbon monoxide production, which may be more objectionable. The concentrations of chlorine and fluorine, at least at the maximum levels in the projected Vortec feed, are not projected to greatly influence the vaporization rates. Therefore, blending to reduce the concentrations of those elements would most likely not be effective in reducing metal vaporization. Most of the elements vaporized condense by the time the gas cools to 2000 F. These elements would condense either on surfaces near the front of the heat recuperator or on entrained particulates or homogeneously as relatively pure submicron particles. Cesium would be expected to condense at the lower temperatures near the rear of the recuperator, although the expected maximum concentration in the Vortec feed material is extremely low so it should be greatly diluted by other particulates. The elements that condense on other entrained particles will form enriched surface coatings. Particles larger than 10microm or so will be collected in the scrubber. Smaller particles, especially the submicron particles formed from homogeneous nucleation, should be largely collected in the HEPA filter. Deposits formed in the heat recuperator can normally be handled via sootblowing. To reduce handling problems, we suggest that the recuperator be oriented vertically so that the deposits blown off of the heat exchanger fall directly into the molten glass. The large size of the deposits should help to reduce the

Normalization for Implied Volatility

OpenAIRE

Fukasawa, Masaaki

2010-01-01

We study specific nonlinear transformations of the Black-Scholes implied volatility to show remarkable properties of the volatility surface. Model-free bounds on the implied volatility skew are given. Pricing formulas for the European options which are written in terms of the implied volatility are given. In particular, we prove elegant formulas for the fair strikes of the variance swap and the gamma swap.

Money growth volatility and the demand for money in Germany: Friedman's volatility hypothesis revisited

OpenAIRE

Brüggemann, Imke; Nautz, Dieter

1997-01-01

Recently, the Bundesbank claimed that monetary targeting has become considerably more diffcult by the increased volatility of short-term money growth. The present paper investigates the impact of German money growth volatility on income velocity and money demand in view of Friedman's money growth volatility hypothesis. Granger-causality tests provide some evidence for a velocity-volatility linkage. However the estimation of volatility-augmented money demand functions reveals that - in contras...

Heavy element affinities in Apollo 17 samples

International Nuclear Information System (INIS)

Allen, R.O. Jr.; Jovanovic, S.; Reed, G.W. Jr.

1975-01-01

204 Pb, Bi, Tl and Zn in samples from Apollo 17 exhibit relationships not found in samples from other sites. 204 Pb, Tl and Zn in residues remaining after dilute acid leaching are correlated with one another. Orange soil 74220, which is enriched in 204 Pb, Tl and Zn, is included in these relationships. In addition the submicron metallic phase generally associated with agglutinate formation is correlated with all three of these elements; this relationship has already been reported for 204 Pb in other samples. Thus, orange soil and agglutinates appear to be involved in concentrating heavy volatile metals. A process other than mixing is required to account for this. As a consequence of the isolation of the landing site by the surrounding massifs, local supply and recycling of volatile trace elements in soils may account for some of the interelement relations. (Auth.)

Chasing volatility

DEFF Research Database (Denmark)

Caporin, Massimiliano; Rossi, Eduardo; Santucci de Magistris, Paolo

The realized volatility of financial returns is characterized by persistence and occurrence of unpreditable large increments. To capture those features, we introduce the Multiplicative Error Model with jumps (MEM-J). When a jump component is included in the multiplicative specification, the condi......The realized volatility of financial returns is characterized by persistence and occurrence of unpreditable large increments. To capture those features, we introduce the Multiplicative Error Model with jumps (MEM-J). When a jump component is included in the multiplicative specification...... estimate alternative specifications of the model using a set of daily bipower measures for 7 stock indexes and 16 individual NYSE stocks. The estimates of the jump component confirm that the probability of jumps dramatically increases during the financial crisis. Compared to other realized volatility...... models, the introduction of the jump component provides a sensible improvement in the fit, as well as for in-sample and out-of-sample volatility tail forecasts....

Trace elements determination in human hair

International Nuclear Information System (INIS)

Carrion, Jose

1995-01-01

Concentrations of Cu, Zn, Pb, Mg, Ca, Na, K, Mn, Cr, Ni, Co, V, Cd and Al, in human hair sampled from 23 young men during 24 months were determined by atomic absorption spectroscopy. Additional determination of mercury and volatile elements were made by using accessory MHS-10. Statistical treatment of data is presented for each person and element. The pre-treatment of hair carried out with an organic solvent to remove the superficial pollutants is explained. (The author)

Effect of storage on the yield and the elemental composition of the ...

African Journals Online (AJOL)

The yield of the volatile oils of Eucalyptus citrodora and lemon grass obtained from a locally constructed apparatus is presented. Hydro distillation of the fresh and dried leaves at room temperature (25°C) gave a better yield with dried leaves. Elemental composition of the crude and rectified volatile oils of the predominant ...

Metabolomic and elemental profiling of melon fruit quality as affected by genotype and environment

NARCIS (Netherlands)

Bernillon, S.; Biais, B.; Deborde, C.; Maucort, M.; Cabasson, C.; Gibon, Y.; Hansen, T.; Husted, S.; Vos, de R.C.H.; Mumm, R.; Jonker, H.; Ward, J.L.; Miller, S.J.; Baker, J.M.; Burger, J.; Tadmor, Y.; Beale, M.H.; Schjoerring, J.K.; Schaffer, A.; Rolin, D.; Hall, R.D.; Moing, A.

2013-01-01

Melon (Cucumis melo L.) is a global crop in terms of economic importance and nutritional quality. The aim of this study was to explore the variability in metabolite and elemental composition of several commercial varieties of melon in various environmental conditions. Volatile and non-volatile

Volatility in Equilibrium

DEFF Research Database (Denmark)

Bollerslev, Tim; Sizova, Natalia; Tauchen, George

Stock market volatility clusters in time, carries a risk premium, is fractionally inte- grated, and exhibits asymmetric leverage effects relative to returns. This paper develops a first internally consistent equilibrium based explanation for these longstanding empirical facts. The model is cast i......, and the dynamic cross-correlations of the volatility measures with the returns calculated from actual high-frequency intra-day data on the S&P 500 aggregate market and VIX volatility indexes....

In situ extraction and analysis of volatiles and simple molecules in interplanetary dust particles, contaminants, and silica aerogel

Science.gov (United States)

Hartmetz, C. P.; Gibson, E. K., Jr.; Blanford, G. E.

1990-01-01

Results are presented for the analyses of eight interplanetary dust particles (IDPs) for the volatile elements H, C, N, O, and S and their molecular species, as well as of the volatiles associated with contaminants (i.e., the compounds used during the collection and curation of IDPs), which were carried out using a laser microprobe interfaced with a quadrupole mass spectrometer. It was found that the volatile species from contaminants were always present in the spectra of IDPs. Despite the contamination problems, several indigenous molecular species could be identified, including OH, CO2 or C2H4, C and CS2, CO2 along with CO (possibly indicating the presence of carbonate), H2S, SO, COS, SO2, and CS2. In some cases, the sulfur components can be attributed to aerosols; however, in one of the IDPs, the presence of H2S, SO, COS, and SO2 indicates the possible presence of elemental sulfur.

American options under stochastic volatility

NARCIS (Netherlands)

Chockalingam, A.; Muthuraman, K.

2011-01-01

The problem of pricing an American option written on an underlying asset with constant price volatility has been studied extensively in literature. Real-world data, however, demonstrate that volatility is not constant, and stochastic volatility models are used to account for dynamic volatility

Partitioning of U, Th and K Between Metal, Sulfide and Silicate, Insights into the Volatile-Content of Mercury

Science.gov (United States)

Habermann, M.; Boujibar, A.; Righter, K.; Danielson, L.; Rapp, J.; Righter, M.; Pando, K.; Ross, D. K.; Andreasen, R.; Chidester, B.

2016-01-01

During the early stages of the Solar System formation, especially during the T-Tauri phase, the Sun emitted strong solar winds, which are thought to have expelled a portion of the volatile elements from the inner solar system. It is therefore usually believed that the volatile depletion of a planet is correlated with its proximity to the Sun. This trend was supported by the K/Th and K/U ratios of Venus, the Earth, and Mars. Prior to the MESSENGER mission, it was expected that Mercury is the most volatile-depleted planet. However, the Gamma Ray Spectrometer of MESSENGER spacecraft revealed elevated K/U and K/Th ratios for the surface of Mercury, much higher than previous expectations. It is possible that the K/Th and K/U ratios on the surface are not a reliable gauge of the bulk volatile content of Mercury. Mercury is enriched in sulfur and is the most reduced of the terrestrial planets, with oxygen fugacity (fO2) between IW-6.3 and IW-2.6 log units. At these particular compositions, U, Th and K behave differently and can become more siderophile or chalcophile. If significant amounts of U and Th are sequestered in the core, the apparent K/U and K/Th ratios measured on the surface may not represent the volatile budget of the whole planet. An accurate determination of the partitioning of these elements between silicate, metal, and sulfide phases under Mercurian conditions is therefore essential to better constrain Mercury's volatile content and assess planetary formation models.

Survey of trace elements in hair of normal Japanese

International Nuclear Information System (INIS)

Takeuchi, T.; Hayashi, T.; Takada, J.

1979-01-01

Neutron activation analysis of trace elements in hair has been performed on normal Japanese to define the base-line levels with which the levels of various elements found in hair samples of individuals in a given area, where significant pollution is suspected or known to be present, can be compared. Among the hair samples collected from various places in Japan, 342 samples were selected so as to represent a cross-section of the Japanese population and were analysed in accordance with the standardized procedure. Errors introduced by volatilization losses from standard samples during and after neutron irradiation for the volatile elements such as Cl, Br, I and Hg were examined and minimized. The range, the arithmetic and geometric means, the median for the detected samples and the median for all analysed samples are given for each of 28 detected elements. A cumulative frequency distribution curve relative to the number of analysed samples is also given for each element. For elements that were detected in less than 50% of the analysed samples, the median was estimated from the distribution curve. The geometric means of the detected concentrations were calculated for each element on the basis of permanent waving, age, sex and residence and then compared with each other. The detected elements were classified according to the effect of permanent waving. The elements are given which show remarkably different characteristics between the sexes, with age and residence. (author)

Proboscis extension reflex platform for volatiles and semi-volatiles detection

Energy Technology Data Exchange (ETDEWEB)

Wingo, Robert M. (Los Alamos, NM); McCabe, Kirsten J. (Los Alamos, NM); Haarmann, Timothy K. (Jemez Pueblo, NM)

2010-11-30

The present invention provides an apparatus for the detection of volatile and semi-volatile chemicals using the olfactory abilities of honey bees that are trained to respond to the presence of a specific chemical in a sample of gas with the proboscis extension reflex (PER). In particular, the geometry and arrangement of the parts of the apparatus are such that the amount of surface area in contact with the sample of gas prior to its introduction to the bees is minimized to improve the detection of particular volatile and semi-volatile that have a tendency to "stick" to contacting surfaces, especially certain chemicals associated with explosives and narcotics. According to another aspect of the present invention, a pre-concentrating means is incorporated with the device to effectively increase the concentration of "sticky" chemicals presented to the insects.

Rare earth element abundances in presolar SiC

Science.gov (United States)

Ireland, T. R.; Ávila, J. N.; Lugaro, M.; Cristallo, S.; Holden, P.; Lanc, P.; Nittler, L.; Alexander, C. M. O'D.; Gyngard, F.; Amari, S.

2018-01-01

Individual isotope abundances of Ba, lanthanides of the rare earth element (REE) group, and Hf have been determined in bulk samples of fine-grained silicon carbide (SiC) from the Murchison CM2 chondrite. The analytical protocol involved secondary ion mass spectrometry with combined high mass resolution and energy filtering to exclude REE oxide isobars and Si-C-O clusters from the peaks of interest. Relative sensitivity factors were determined through analysis of NIST SRM reference glasses (610 and 612) as well as a trace-element enriched SiC ceramic. When normalised to chondrite abundances, the presolar SiC REE pattern shows significant deficits at Eu and Yb, which are the most volatile of the REE. The pattern is very similar to that observed for Group III refractory inclusions. The SiC abundances were also normalised to s-process model predictions for the envelope compositions of low-mass (1.5-3 M⊙) AGB stars with close-to-solar metallicities (Z = 0.014 and 0.02). The overall trace element abundances (excluding Eu and Yb) appear consistent with the predicted s-process patterns. The depletions of Eu and Yb suggest that these elements remained in the gas phase during the condensation of SiC. The lack of depletion in some other moderately refractory elements (like Ba), and the presence of volatile elements (e.g. Xe) indicates that these elements were incorporated into SiC by other mechanisms, most likely ion implantation.

IVO, a device for In situ Volatilization and On-line detection of products from heavy ion reactions

CERN Document Server

Duellmann, C E; Eichler, R; Gäggeler, H W; Jost, D T; Piguet, D; Türler, A

2002-01-01

A new gaschromatographic separation system to rapidly isolate heavy ion reaction products in the form of highly volatile species is described. Reaction products recoiling from the target are stopped in a gas volume and converted in situ to volatile species, which are swept by the carrier gas to a chromatography column. Species that are volatile under the given conditions pass through the column. In a cluster chamber, which is directly attached to the exit of the column, the isolated volatile species are chemically adsorbed to the surface of aerosol particles and transported to an on-line detection system. The whole set-up was tested using short-lived osmium (Os) and mercury (Hg) nuclides produced in heavy ion reactions to model future chemical studies with hassium (Hs, Z=108) and element 112. By varying the temperature of the isothermal section of the chromatography column between room temperature and -80 deg. C, yield measurements of given species can be conducted, yielding information about the volatility o...

Fuel element tomography by gammametry

International Nuclear Information System (INIS)

Simonet, G.; Pineira, T.

1982-03-01

As from transversal gamma determinations of a cylindrical fuel element, the TOMOGAM program reconstitutes the distribution of fission products in a section. This direct, fast and non destructive method, makes it possible to have access to the behaviour of the fuel at any time: - the soluble fission products in the matrix represent the fuel itself and the distribution of the fissions, - the migrating elements inform on the temperature reached in accordance with the permitted powers, - the volatile nuclides build up in particular points where physical-chemical phenomena of fuel-cladding interaction are liable to corrode the latter. Hence, gamma spectrometry extends its possibilities of analysis relative to the performance of reactor elements [fr

some geochemical considerations in the petrogenesis of madagali

African Journals Online (AJOL)

DJFLEX

lithophile elements (LILE) such as Rb, Ba, Th and K and depletion in some high field strength (HFS) elements ... Ferre et al (1998), using Sr initial ratios suggested that .... Ca O. 1.95. 2.25. 2.54. 1.96. 2.98. 2.47. 1.95. 2.55. 1.05. 1.10. 1.26. 1.37.

Trace elements in primitive meteorites—VII Antarctic unequilibrated ordinary chondrites

Science.gov (United States)

Wang, Ming-Sheng; Lipschutz, Michael E.

2007-02-01

We report RNAA results for Co, Au, Sb, Ga, Rb, Cs, Se, Ag, Te, Zn, In, Bi, Tl and Cd (in increasing order of metamorphic mobility) in 22 Antarctic unequilibrated ordinary chondrites (UOC). This brings to 38 the number of UOC for which data for highly volatile elements are known. For elements of lesser mobility (Co to Se, omitting Cs) overall variability in UOC are low, relative standard deviations (one sigma) being no more than a factor of two. For Ag, Te and Zn, relative standard deviations are 2-4×, while for Cs and the four most volatile elements, the variabilities are 8-110×. Elemental abundances do not vary with chemical type (H, L and LL) nor with UOC subtype (3.0-3.9). Contents of all elements reach levels up to, even exceeding, cosmic and all but Cd and the two alkalis, seem unaffected by post-accretionary processes. Contents of highly volatile elements are consistent with the idea that source regions producing contemporary falls and older Antarctic UOC differed in thermal histories. The presence or absence of carbide magnetite assemblages (CMA) generally accords with high or low Cd contents, respectively. This relationship accords with the prior suggestion that CMA formed by alteration of Fe-Ni metal by C-O-H-containing fluids at temperatures indicate that they were subsequently destroyed as metamorphic intensity increased. The high, often supercosmic, Rb and Cs levels in UOC may result from their high solubility in liquid water signalling their redistribution by C-O-H-containing fluid while in the liquid water field. Because of its uniquely high mobility, Cd could have been enriched by the C-O-H fluids and should have been lost from parent regions during later, higher temperature anhydrous metamorphism at temperatures in the 500-600 °C range.

Volatility and variance swaps : A comparison of quantitative models to calculate the fair volatility and variance strike

OpenAIRE

Röring, Johan

2017-01-01

Volatility is a common risk measure in the field of finance that describes the magnitude of an asset’s up and down movement. From only being a risk measure, volatility has become an asset class of its own and volatility derivatives enable traders to get an isolated exposure to an asset’s volatility. Two kinds of volatility derivatives are volatility swaps and variance swaps. The problem with volatility swaps and variance swaps is that they require estimations of the future variance and volati...

Endogenous Lunar Volatiles

Science.gov (United States)

McCubbin, F. M.; Liu, Y.; Barnes, J. J.; Anand, M.; Boyce, J. W.; Burney, D.; Day, J. M. D.; Elardo, S. M.; Hui, H.; Klima, R. L.; Magna, T.; Ni, P.; Steenstra, E.; Tartèse, R.; Vander Kaaden, K. E.

2018-04-01

This abstract discusses numerous outstanding questions on the topic of endogenous lunar volatiles that will need to be addressed in the coming years. Although substantial insights into endogenous lunar volatiles have been gained, more work remains.

Emerging non-volatile memories

CERN Document Server

Hong, Seungbum; Wouters, Dirk

2014-01-01

This book is an introduction to the fundamentals of emerging non-volatile memories and provides an overview of future trends in the field. Readers will find coverage of seven important memory technologies, including Ferroelectric Random Access Memory (FeRAM), Ferromagnetic RAM (FMRAM), Multiferroic RAM (MFRAM), Phase-Change Memories (PCM), Oxide-based Resistive RAM (RRAM), Probe Storage, and Polymer Memories. Chapters are structured to reflect diffusions and clashes between different topics. Emerging Non-Volatile Memories is an ideal book for graduate students, faculty, and professionals working in the area of non-volatile memory. This book also: Covers key memory technologies, including Ferroelectric Random Access Memory (FeRAM), Ferromagnetic RAM (FMRAM), and Multiferroic RAM (MFRAM), among others. Provides an overview of non-volatile memory fundamentals. Broadens readers' understanding of future trends in non-volatile memories.

Volatility Exposure for Strategic Asset Allocation

OpenAIRE

Briere, Marie; Burgues, Alexandre; Signori, Ombretta

2008-01-01

This paper examines the advantages of incorporating strategic exposure to equity volatility into the investment-opportunity set of a long-term equity investor. We consider two standard volatility investments: implied volatility and volatility risk premium strategies. To calibrate and assess the risk/return profile of the portfolio, we present an analytical framework offering pragmatic solutions for long-term investors seeking exposure to volatility. The benefit of volatility exposure for a co...

Hot char-catalytic reforming of volatiles from MSW pyrolysis

International Nuclear Information System (INIS)

Wang, Na; Chen, Dezhen; Arena, Umberto; He, Pinjing

2017-01-01

Highlights: • Volatile from MSW pyrolysis is reformed with hot char from the same pyrolysis process. • The yields of syngas increase evidently with H 2 being the main contributor and the major component of the syngas. • Pyrolysis oil becomes light and its composition distribution is narrowed. • The HHV, volatile elements and alkali metals contents in the char decrease. • The emissions including SO 2 , NO, NO 2 and HCN changed after reforming process. - Abstract: Volatile products obtained from pyrolysis of municipal solid waste (MSW), including syngas and pyrolysis oil, were forced to contact the hot char from the same pyrolysis process at 500–600 °C in a fixed bed reactor to be reformed. The yields and properties of syngas, char and pyrolysis liquid were investigated; and the energy re-distribution among the products due to char reforming was quantified. The preliminary investigation at lab scale showed that hot char-catalytic reforming of the volatiles leads to an increase in the dry syngas yield from 0.25 to 0.37 N m 3 kg −1 MSW at 550 °C. Accordingly, the carbon conversion ratio into syngas increases from 29.6% to 35.0%; and the MSW chemical energy transferred into syngas increased from 41.8% to 47.4%. The yield of pyrolysis liquid products, including pyrolysis oil and water, decreased from 27.3 to 16.5 wt%, and the molecular weight of the oil becoming lighter. Approximately 60% of the water vapour contained in the volatiles converted into syngas. After reforming, the concentrations of SO 2 and HCN in the syngas decreases, while those of NO and NO 2 increase. The char concentrations of N, H, C and alkali metal species decreased and its higher heating value decreased too.

Volatile Element Fluxes at Copahue Volcano, Argentina

Science.gov (United States)

Varekamp, J. C.

2002-05-01

Copahue volcano has a crater lake and acid hot springs that discharge into the Rio Agrio river system. These fluids are very concentrated (up to 6 % sulfate), rich in rock-forming elements (up to 2000 ppm Mg) and small spheres of native sulfur float in the crater lake. The stable isotope composition of the waters (delta 18O =-2.1 to + 3.6 per mille; delta D = -49 to -26 per mille) indicates that the hot spring waters are at their most concentrated about 70% volcanic brine and 30 % glacial meltwater. The crater lake waters have similar mixing proportions but added isotope effects from intense evaporation. Further dilution of the waters in the Rio Agrio gives values closer to local meteoric waters (delta 18O = -11 per mille; delta D = -77 per mille), whereas evaporation in closed ponds led to very heavy water (up to delta 18O = +12 per mille). The delta 34S value of dissolved sulfate is +14.2 per mille, whereas the native sulfur has values of -8.2 to -10.5 per mille. The heavy sulfate probably formed when SO2 disproportionated into bisulfate and native sulfur at about 300 C. We measured the sulfate fluxes in the Rio Agrio, which ranged from 20-40 kilotons S/year. The whole system was releasing sulfur at an equivalent rate of about 250-650 tons SO2/day. From the river flux sulfur values and the stochiometry of the disproportionation reaction we calculated the rate of liquid sulfur storage inside the volcano (6000 m3/year). During the eruptions of 1995/2000, large amounts of that stored liquid sulfur were ejected as pyroclastic sulfur. The calculated rate of rock dissolution (from rock- forming element fluxes in the Rio Agrio) suggests that the void space generated by rock dissolution is largely filled by native sulfur and silica. The S/Cl ratio in the hydrothermal fluids is about 2, whereas glass inclusions have S/Cl = 0.2, indicating the strong preferential degassing of sulfur.

Volatility transmission and volatility impulse response functions in European electricity forward markets

International Nuclear Information System (INIS)

Le Pen, Yannick; Sevi, Benoit

2008-01-01

Using daily data from March 2001 to June 2005, we estimate a VAR-BEKK model and find evidence of return and volatility spillovers between the German, the Dutch and the British forward electricity markets. We apply Hafner and Herwartz [2006, Journal of International Money and Finance 25, 719-740] Volatility Impulse Response Function(VIRF) to quantify the impact of shock on expected conditional volatility. We observe that a shock has a high positive impact only if its size is large compared to the current level of volatility. The impact of shocks are usually not persistent, which may be an indication of market efficiency. Finally, we estimate the density of the VIRF at different forecast horizon. These fitted distributions are asymmetric and show that extreme events are possible even if their probability is low. These results have interesting implications for market participants whose risk management policy is based on option prices which themselves depend on the volatility level. (authors)

The volatility of HOL

International Nuclear Information System (INIS)

Wren, D.J.; Sanipelli, G.

1985-01-01

The volatility of HOI has been measured using a mass spectrometer to analyze the gas phase above an aqueous solution. The HOI in solution was generated continuously in a flow reactor that combined I/sup -/ and OCl/sup -/ solutions. The analysis has resulted in a lower limit of 6X10/sup 3/ mol . dm/sup -3/ . atm/sup -1/ for the equilibrium constant for the reaction HOI(g)/equilibrium/HOI(aq). This value is a factor 30 greater than the best previous estimate. This new limit for HOI volatility results in higher total iodine partition coefficients, particularly for solutions with pH>8. The upper limit for the equilibrium constant is consistent with essentially zero volatility for HOI. The effect of HOI volatility on total iodine volatility is briefly discussed as a function of solution chemistry and kinetics

Carbonatite and silicate melt metasomatism of the mantle surrounding the Hawaiian plume: Evidence from volatiles, trace elements, and radiogenic isotopes in rejuvenated-stage lavas from Niihau, Hawaii

Science.gov (United States)

Dixon, Jacqueline; Clague, David A.; Cousens, Brian; Monsalve, Maria Luisa; Uhl, Jessika

2008-09-01

We present new volatile, trace element, and radiogenic isotopic compositions for rejuvenated-stage lavas erupted on Niihau and its submarine northwest flank. Niihau rejuvenated-stage Kiekie Basalt lavas are mildly alkalic and are isotopically similar to, though shifted to higher 87Sr/86Sr and lower 206Pb/204Pb than, rejuvenated-stage lavas erupted on other islands and marginal seafloor settings. Kiekie lavas display trace element heterogeneity greater than that of other rejuvenated-stage lavas, with enrichments in Ba, Sr, and light-rare earth elements resulting in high and highly variable Ba/Th and Sr/Ce. The high Ba/Th lavas are among the least silica-undersaturated of the rejuvenated-stage suite, implying that the greatest enrichments are associated with the largest extents of melting. Kiekie lavas also have high and variable H2O/Ce and Cl/La, up to 620 and 39, respectively. We model the trace element concentrations of most rejuvenated-stage lavas by small degrees (˜1% to 9%) of melting of depleted peridotite recently metasomatized by a few percent of an enriched incipient melt (0.5% melting) of the Hawaiian plume. Kiekie lavas are best explained by 4% to 13% partial melting of a peridotite source metasomatized by up to 0.2% carbonatite, similar in composition to oceanic carbonatites from the Canary and Cape Verde Islands, with lower proportion of incipient melt than that for other rejuvenated-stage lavas. Primary H2O and Cl of the carbonatite component must be high, but variability in the volatile data may be caused by heterogeneity in the carbonatite composition and/or interaction with seawater. Our model is consistent with predictions based on carbonated eclogite and peridotite melting experiments in which (1) carbonated eclogite and peridotite within the Hawaiian plume are the first to melt during plume ascent; (2) carbonatite melt metasomatizes plume and surrounding depleted peridotite; (3) as the plume rises, silica-undersaturated silicate melts are also

Can Halogen Enrichment in Reduced Enstatite Chondrites Provide Clues to Volatile Accretion in the Early Earth?

Science.gov (United States)

Clay, P. L.; Burgess, R.; Busemann, H.; Ruzié, L.; Joachim, B.; Ballentine, C.

2013-12-01

Understanding how the Earth obtained and ultimately retained its volatiles is important for our overall understanding of large scale planetary evolution. Numerous models exist for the heterogeneous accretion of volatiles to early Earth, but accounting for all elements through accretion of typical planetary building blocks (e.g., CI chondrites) is difficult. Proto-planetary collisions resulting in the accretion of volatile-poor material under reducing conditions followed by accretion of volatile-rich material under oxidizing conditions has been suggested in such models [e.g., 1]. The heavy halogens (Cl, Br and I), a group of moderately volatile elements, are excellent tracers of planetary processing due to their low abundance and incompatible nature. Therefore characterizing halogen abundance and distribution in materials that accreted to form the planets, e.g., primitive meteorites, is crucial. One group of primitive meteorites, the enstatite chondrites (EC's), are amongst the most reduced materials in the solar system as evidenced by their unique mineral assemblage. Yet despite forming under ultra-reducing conditions, they are enriched in the moderately volatile elements, such as the halogens. The ECs are of particular interest owing to their oxygen isotopic composition which plots along the terrestrial fractionation line, linking them isotopically to the Earth-Moon system. These samples can thus potentially provide clues on the accretion of moderately volatile element rich material under reducing conditions, such as it may have existed during the early stages of Earth's accretion. Chlorine, Br and I concentrations in ECs were determined through step-heating small neutron-irradiated samples (0.3 to 3.3 mg) and measured by mass spectrometry using the noble gas proxy isotopes 38ArCl/Cl, 80KrBr/Br and 128XeI/I. The EH chondrites are consistently enriched in the heavy halogens (up to 330 ppm Cl, 2290 ppb Br and 180 ppb I), compared to other ordinary and carbonaceous

Size distributions of non-volatile particle residuals (Dp<800 nm at a rural site in Germany and relation to air mass origin

Directory of Open Access Journals (Sweden)

T. Tuch

2007-11-01

Full Text Available Atmospheric aerosol particle size distributions at a continental background site in Eastern Germany were examined for a one-year period. Particles were classified using a twin differential mobility particle sizer in a size range between 3 and 800 nm. As a novelty, every second measurement of this experiment involved the removal of volatile chemical compounds in a thermodenuder at 300°C. This concept allowed to quantify the number size distribution of non-volatile particle cores – primarily associated with elemental carbon, and to compare this to the original non-conditioned size distribution. As a byproduct of the volatility analysis, new particles originating from nucleation inside the thermodenuder can be observed, however, overwhelmingly at diameters below 6 nm. Within the measurement uncertainty, every particle down to particle sizes of 15 nm is concluded to contain a non-volatile core. The volume fraction of non-volatile particulate matter (non-conditioned diameter < 800 nm varied between 10 and 30% and was largely consistent with the experimentally determined mass fraction of elemental carbon. The average size of the non-volatile particle cores was estimated as a function of original non-conditioned size using a summation method, which showed that larger particles (>200 nm contained more non-volatile compounds than smaller particles (<50 nm, thus indicating a significantly different chemical composition. Two alternative air mass classification schemes based on either, synoptic chart analysis (Berliner Wetterkarte or back trajectories showed that the volume and number fraction of non-volatile cores depended less on air mass than the total particle number concentration. In all air masses, the non-volatile size distributions showed a more and a less volatile ("soot" mode, the latter being located at about 50 nm. During unstable conditions and in maritime air masses, smaller values were observed compared to stable or continental conditions

Volatility Mean Reversion and the Market Price of Volatility Risk

NARCIS (Netherlands)

Boswijk, H.P.

2001-01-01

This paper analyzes sources of derivative pricing errors in a stochastic volatility model estimated on stock return data. It is shown that such pricing errors may reflect the existence of a market price of volatility risk, but also may be caused by estimation errors due to a slow mean reversion in

Mineral chemistry of magnetite from magnetite-apatite mineralization and their host rocks: examples from Kiruna, Sweden, and El Laco, Chile

Science.gov (United States)

Broughm, Shannon G.; Hanchar, John M.; Tornos, Fernando; Westhues, Anne; Attersley, Samuel

2017-12-01

Interpretation of the mineralizing environment of magnetite-apatite deposits remains controversial with theories that include a hydrothermal or magmatic origin or a combination of those two processes. To address this controversy, we have analyzed the trace element content of magnetite from precisely known geographic locations and geologic environments from the Precambrian magnetite-apatite ore and host rocks in Kiruna, Sweden, and the Pliocene-Holocene El Laco volcano in the Atacama desert of Chile. Magnetite samples from Kiruna have low trace element concentrations with little chemical variation between the ore, host, and related intrusive rocks. Magnetite from andesite at El Laco, and dacite from the nearby Láscar volcano, has high trace element concentrations typical of magmatic magnetite. El Laco ore magnetite have low trace element concentrations and displays growth zoning in incompatible elements (Si, Ca, and Ce), compatible elements (Mg, Al, and Mn), large-ion lithophile element (Sr), and high field strength element (Y, Nb, and Th). The El Laco ore magnetite are similar in composition to magnetite that has been previously interpreted to have crystallized from hydrothermal fluids; however, there is a significant difference in the internal zoning patterns. At El Laco, each zoned element is either enriched or depleted in the same layers, suggesting the magnetite crystallized from a volatile-rich, iron-oxide melt. In general, the compositions of magnetite from these two deposits plot in very wide fields that are not restricted to the proposed fields in published discriminant diagrams. This suggests that the use of these diagrams and genetic models based on them should be used with caution.

Cost Linkages Transmit Volatility Across Markets

DEFF Research Database (Denmark)

Nguyen, Daniel Xuyen; Schaur, Georg

We present and test a model relating a firm's idiosyncratic cost, its exporting status, and the volatilities of its domestic and export sales. In prior models of trade, supply costs for domestic and exports were linear and thus additively separable. We introduce a nonlinear cost function in order...... to link the domestic and export supply costs. This theoretical contribution has two new implications for the exporting firm. First, the demand volatility in the foreign market now directly affects the firm's domestic sales volatility. Second, firms hedge domestic demand volatility with exports. The model...... has several testable predictions. First, larger firms have lower total and domestic sales volatilities. Second, foreign market volatility increases domestic sales volatilities for exporters. Third, exporters allocate output across both markets in order to reduce total sales volatility. We find...

Time-Varying Periodicity in Intraday Volatility

DEFF Research Database (Denmark)

Andersen, Torben Gustav; Thyrsgaard, Martin; Todorov, Viktor

We develop a nonparametric test for deciding whether return volatility exhibits time-varying intraday periodicity using a long time-series of high-frequency data. Our null hypothesis, commonly adopted in work on volatility modeling, is that volatility follows a stationary process combined...... with a constant time-of-day periodic component. We first construct time-of-day volatility estimates and studentize the high-frequency returns with these periodic components. If the intraday volatility periodicity is invariant over time, then the distribution of the studentized returns should be identical across...... with estimating volatility moments through their sample counterparts. Critical values are computed via easy-to-implement simulation. In an empirical application to S&P 500 index returns, we find strong evidence for variation in the intraday volatility pattern driven in part by the current level of volatility...

Bias correction in the realized stochastic volatility model for daily volatility on the Tokyo Stock Exchange

Science.gov (United States)

Takaishi, Tetsuya

2018-06-01

The realized stochastic volatility model has been introduced to estimate more accurate volatility by using both daily returns and realized volatility. The main advantage of the model is that no special bias-correction factor for the realized volatility is required a priori. Instead, the model introduces a bias-correction parameter responsible for the bias hidden in realized volatility. We empirically investigate the bias-correction parameter for realized volatilities calculated at various sampling frequencies for six stocks on the Tokyo Stock Exchange, and then show that the dynamic behavior of the bias-correction parameter as a function of sampling frequency is qualitatively similar to that of the Hansen-Lunde bias-correction factor although their values are substantially different. Under the stochastic diffusion assumption of the return dynamics, we investigate the accuracy of estimated volatilities by examining the standardized returns. We find that while the moments of the standardized returns from low-frequency realized volatilities are consistent with the expectation from the Gaussian variables, the deviation from the expectation becomes considerably large at high frequencies. This indicates that the realized stochastic volatility model itself cannot completely remove bias at high frequencies.

Forecasting volatility of crude oil markets

International Nuclear Information System (INIS)

Kang, Sang Hoon; Kang, Sang-Mok; Yoon, Seong-Min

2009-01-01

This article investigates the efficacy of a volatility model for three crude oil markets - Brent, Dubai, and West Texas Intermediate (WTI) - with regard to its ability to forecast and identify volatility stylized facts, in particular volatility persistence or long memory. In this context, we assess persistence in the volatility of the three crude oil prices using conditional volatility models. The CGARCH and FIGARCH models are better equipped to capture persistence than are the GARCH and IGARCH models. The CGARCH and FIGARCH models also provide superior performance in out-of-sample volatility forecasts. We conclude that the CGARCH and FIGARCH models are useful for modeling and forecasting persistence in the volatility of crude oil prices. (author)

Forecasting volatility of crude oil markets

Energy Technology Data Exchange (ETDEWEB)

Kang, Sang Hoon [Department of Business Administration, Gyeongsang National University, Jinju, 660-701 (Korea); Kang, Sang-Mok; Yoon, Seong-Min [Department of Economics, Pusan National University, Busan, 609-735 (Korea)

2009-01-15

This article investigates the efficacy of a volatility model for three crude oil markets - Brent, Dubai, and West Texas Intermediate (WTI) - with regard to its ability to forecast and identify volatility stylized facts, in particular volatility persistence or long memory. In this context, we assess persistence in the volatility of the three crude oil prices using conditional volatility models. The CGARCH and FIGARCH models are better equipped to capture persistence than are the GARCH and IGARCH models. The CGARCH and FIGARCH models also provide superior performance in out-of-sample volatility forecasts. We conclude that the CGARCH and FIGARCH models are useful for modeling and forecasting persistence in the volatility of crude oil prices. (author)

Molecular corridors and parameterizations of volatility in the chemical evolution of organic aerosols

Directory of Open Access Journals (Sweden)

Y. Li

2016-03-01

Full Text Available The formation and aging of organic aerosols (OA proceed through multiple steps of chemical reaction and mass transport in the gas and particle phases, which is challenging for the interpretation of field measurements and laboratory experiments as well as accurate representation of OA evolution in atmospheric aerosol models. Based on data from over 30 000 compounds, we show that organic compounds with a wide variety of functional groups fall into molecular corridors, characterized by a tight inverse correlation between molar mass and volatility. We developed parameterizations to predict the saturation mass concentration of organic compounds containing oxygen, nitrogen, and sulfur from the elemental composition that can be measured by soft-ionization high-resolution mass spectrometry. Field measurement data from new particle formation events, biomass burning, cloud/fog processing, and indoor environments were mapped into molecular corridors to characterize the chemical nature of the observed OA components. We found that less-oxidized indoor OA are constrained to a corridor of low molar mass and high volatility, whereas highly oxygenated compounds in atmospheric water extend to high molar mass and low volatility. Among the nitrogen- and sulfur-containing compounds identified in atmospheric aerosols, amines tend to exhibit low molar mass and high volatility, whereas organonitrates and organosulfates follow high O : C corridors extending to high molar mass and low volatility. We suggest that the consideration of molar mass and molecular corridors can help to constrain volatility and particle-phase state in the modeling of OA particularly for nitrogen- and sulfur-containing compounds.

Behavior of volatiles in arc volcanism : geochemical and petrologic evidence from active volcanoes in Indonesia

NARCIS (Netherlands)

Hoog, J.C.M. de

2001-01-01

Large amounts of material are recycled along subduction zones by uprising magmas, of which volcanoes are the surface expression. This thesis focuses on the behavior of volatiles elements (S, Cl, H) during these recycling processes. The study area is the Indonesian arc system, which

Alternative Asymmetric Stochastic Volatility Models

NARCIS (Netherlands)

M. Asai (Manabu); M.J. McAleer (Michael)

2010-01-01

textabstractThe stochastic volatility model usually incorporates asymmetric effects by introducing the negative correlation between the innovations in returns and volatility. In this paper, we propose a new asymmetric stochastic volatility model, based on the leverage and size effects. The model is

Major- and trace elements in grain size fractions of the Apollo-17 core of the drilled sample 74001

International Nuclear Information System (INIS)

Kraehenbuehl, U.; Gunten, H.R. von; Jost, D.; Meyer, G.; Wegmueller, F.

1980-01-01

Two layers of a drill sample were examined, one from a depth of 38 cm and the other from 58 cm depth. Neutron activation analysis was used for one group of elements, and radiochemical analysis for another. Over a range of grain size from 36 to 450 μm, the trace elements U, Co, and La were found to uniformly distributed, as was iron. The top layer consistently showed a 5-8% higher content. The volatile trace elements Ge and Cd were found to be enriched in the smaller grain sizes. This contradicts previous assumptions of an enrichment of the more volatile elements in top layers owing to more rapid cooling of volcanic eruptions. (R.S.)

Long-term anaerobic digestion of food waste stabilized by trace elements

International Nuclear Information System (INIS)

Zhang Lei; Jahng, Deokjin

2012-01-01

Highlights: ► Korean food waste was found to contain low level of trace elements. ► Stable anaerobic digestion of food waste was achieved by adding trace elements. ► Iron played an important role in anaerobic digestion of food waste. ► Cobalt addition further enhanced the process performance in the presence of iron. - Abstract: The purpose of this study was to examine if long-term anaerobic digestion of food waste in a semi-continuous single-stage reactor could be stabilized by supplementing trace elements. Contrary to the failure of anaerobic digestion of food waste alone, stable anaerobic digestion of food waste was achieved for 368 days by supplementing trace elements. Under the conditions of OLR (organic loading rates) of 2.19–6.64 g VS (volatile solid)/L day and 20–30 days of HRT (hydraulic retention time), a high methane yield (352–450 mL CH 4 /g VS added ) was obtained, and no significant accumulation of volatile fatty acids was observed. The subsequent investigation on effects of individual trace elements (Co, Fe, Mo and Ni) showed that iron was essential for maintaining stable methane production. These results proved that the food waste used in this study was deficient in trace elements.

Na, Rb and Cs partitioning between metal, silicate and sulfide: Implications for volatile depletion in terrestrial planets

Science.gov (United States)

Boujibar, A.; Fei, Y.; Du, Z.; Righter, K.; Bullock, E. S.

2017-12-01

Inner Solar System materials are known for their depletion in volatile elements, including the moderately volatile alkalis: Na, K, Rb, and Cs. The origin of this depletion is still uncertain, as several processes could have been involved, during the nebular condensation or planetary accretion. Volatile depletion is commonly estimated through comparison of alkali concentrations relatively to those of chondrites, assuming they remain in planetary mantles during core segregation. However, experimental studies show that substantial K can partition into metals that are enriched in sulfur and oxygen. Several models have also suggested that sulfides may have played an important role during episodes of sulfide segregation from a crystallizing magma ocean (sulfide matte) or accretion of S-rich planetary embryos. For Mercury, a sulfide layer could be present between core and mantle, due to immiscibility between Si-rich and S-rich metals. Therefore, here we investigate whether alkali elements (Na, Cs and Rb) could be partly sequestered in planetary cores during their differentiation. We conducted experiments at high pressure and temperature (1 to 5 GPa and up to 1900 °C) to determine partition coefficients of Na, Rb and Cs between metal and silicate. Our results show that pressure, temperature, sulfur and oxygen in metals enhance the partitioning of Na, Rb and Cs into metals, as previously found for K. For all three investigated alkalis (Na, Rb and Cs), we found a maximum partition coefficient of 1 between sulfides containing 13 wt% O and silicate melt. Therefore, S-rich cores or sulfide layers formed due to immiscibility in Fe-S-O systems could have acted as important geochemical reservoirs for alkali elements. Using our experimental data and different assumptions on initial bulk abundances, we evaluate volatile depletion in terrestrial planets, by comparing resulting mantle alkali concentrations after core segregation, with actual concentrations in the Earth's mantle.

Trace element accumulation by moss and lichen exposed in bags in the city of Naples (Italy)

International Nuclear Information System (INIS)

Adamo, P.; Giordano, S.; Vingiani, S.; Castaldo Cobianchi, R.; Violante, P.

2003-01-01

Trace element accumulation by lichen in bags is more affected by meteorological conditions compared with moss. - This paper presents the results of a bioaccumulation study of trace elements in the Naples urban area based on the use of the moss Sphagnum capillifolium (Ehrh.) Hedw. and the lichen Pseudevernia furfuracea (L.) Zopf exposed in bags in 23 sites. Moss and lichen bags were exposed for 4 months starting from the beginning of July 1999. Bags gathering was carried out after 10 weeks of exposure, at the end of the dry season, and after 17 weeks, during the wet season. The elements Al, As, Ca, Cd, Cr, Co, Cu, Fe, K, Mg, Mn, Mo, Ni, Pb, Ti, V and Zn were analysed by inductively coupled plasma-mass spectrometry ICP-MS in both biomonitors. For the majority of the elements the total amounts found in S. capillifolium were higher than in P. furfuracea whether considering the whole period of exposure or the weekly uptake. It was observed that there was a much greater difference in metal accumulation by P. furfuracea between the dry and wet seasons compared with S. capillifolium. In the wet period, the lichen seems to accumulate a larger quantity of metals. With the exception of Mn, trace element concentrations did not appear to be significantly affected by the washing away of rainfall. K loss during exposure suggested cell membrane damage in both organisms. For P. furfuracea the K leakage was limited to the dry period of exposure. A clear distinction between 'lithophilic' and 'anthropogenic' elements was achieved by cluster analysis. Significant correlations were found among Fe-Cu-Cr-Ni, Pb-Cd-Co, V-Cr-Ni, Zn-Ni-Pb, suggesting a common source for each group of elements

Mitigation of release of volatile iodine species during severe reactor accidents - a novel reliable process of safety technology

International Nuclear Information System (INIS)

Guentay, S.; Bruchertseifer, H.

2010-01-01

In severe accidents, a significant risk for public health may be generated as a result of release of the gaseous iodine species into the environment through the containment leaks or containment venting filter systems with low retention efficiency. The elemental iodine and volatile organic iodides are the main gaseous iodine species in the containment. Potential release of large quantities of gaseous elemental iodine from the reactor coolant system or its radiolytic generation in the containment sump constitute the key source of gaseous elemental iodine in containment atmosphere. Iodine paint reactions as well as the reaction of iodine with organic residuals in sump water are the main mechanisms for the generation of high volatile organic iodides in the containment. Although very much desired, significant research activities conducted in 70's unfortunately did not create any technically feasible solution to mitigate iodine release into the environment under prevailing conditions. Development of a process leading to a fast, comprehensive and reliable retention of volatile iodine species in aqueous solution with an aim to implement for the severe accident management applications has been subject of a research project in the recent years at Paul Scherrer Institut. The process developed utilizes simultaneous use of two customary technical chemical additives in an aqueous solution. The results of the experimental program have demonstrated a fast and reliable destruction of high volatile organic iodine species and fast reduction of elemental iodine into iodide ions in aqueous solutions and an efficient mitigation of the re-formation of gaseous iodine from iodide ions. Investigations covered a broad range of anticipated severe accident conditions in the containment. The project additionally focused on possible application of the process to existing containment venting filter systems, specifically as a passive add-on for back-fitting. This paper describes the process

Impact of microorganism on polonium volatilization

International Nuclear Information System (INIS)

Momoshima, N.; Ishida, A.; Fukuda, A.; Yoshinaga, C.

2007-01-01

Volatilization of polonium by microorganisms, Chromobacterium violaceum, Escherichia coli and Bacillus subtilis was examined for pure cultures in LB medium at 30 deg C, showing relative Po emission intensity 100, 10 and 1, respectively. Chromobacterium violaceum pre-cultured in LB medium without Po and suspended in water with Po showed high Po volatilization in spite of poor nutriment condition. Antibiotics inhibit volatilization of Po and cultivation at low temperature greatly reduced volatilization. The results strongly support the biological effects on Po volatilization. (author)

Volatilization behavior of transactinides from metal surfaces and melts (thermochemical calculation); Verfluechtigungsverhalten der Transaktinoide von Metalloberflaechen und aus Schmelzen (Thermochemische Kalkulation)

Energy Technology Data Exchange (ETDEWEB)

Eichler, B

2003-01-01

Volatilization properties of elements with the atomic numbers Z=104 to 116 are determined on the basis of empirical relations. These empirical correlations are deduced from the analysis of thermochemical data of metallic elements in the periodic table and their relations to the material constant: Structure specific connections are shown to exist between the electron densities at the 'Wigner-Seitz' cell borders of metals and the specific surface energies of solid metals with hexagonal, cubic face-centred, cubic body-centred and rhombohedral lattices. Analogously, structure specific relations can be found between the standard enthalpies of the gaseous monoatomic metals and their surface energies. Linear correlations with exceptionally high correlation coefficients are observed between the standard sublimation enthalpies of isotypic metals in the dimeric state and the surface energies. Volatilization properties are deduced for the transactinides on the basis of these established relations, applying a predicted structure and further empirical correlations. These volatilization properties are in detail: the standard enthalpies of the gaseous monomers; the standard sublimation enthalpies of the dimers; the standard dissociation enthalpies of the dimers; the standard enthalpies of adsorption on metal surfaces; the volatilization enthalpies from molten metals, and the standard formation enthalpies of hetero binuclear intermetallic molecules. Thermochemical constants required for the calculation of the intermetallic interactions are determined using the Miedema model. The closed systematic approach facilitate: the assessment of the calculated data considering the agreement with known rules of metal chemistry, trends in the 7{sup t}h row and along the groups of the periodic table, the coherence of the data, and the action of closed shell effects in the electron configurations. From the obtained data conclusions are possible regarding the design of volatilization

Stochastic volatility models and Kelvin waves

Science.gov (United States)

Lipton, Alex; Sepp, Artur

2008-08-01

We use stochastic volatility models to describe the evolution of an asset price, its instantaneous volatility and its realized volatility. In particular, we concentrate on the Stein and Stein model (SSM) (1991) for the stochastic asset volatility and the Heston model (HM) (1993) for the stochastic asset variance. By construction, the volatility is not sign definite in SSM and is non-negative in HM. It is well known that both models produce closed-form expressions for the prices of vanilla option via the Lewis-Lipton formula. However, the numerical pricing of exotic options by means of the finite difference and Monte Carlo methods is much more complex for HM than for SSM. Until now, this complexity was considered to be an acceptable price to pay for ensuring that the asset volatility is non-negative. We argue that having negative stochastic volatility is a psychological rather than financial or mathematical problem, and advocate using SSM rather than HM in most applications. We extend SSM by adding volatility jumps and obtain a closed-form expression for the density of the asset price and its realized volatility. We also show that the current method of choice for solving pricing problems with stochastic volatility (via the affine ansatz for the Fourier-transformed density function) can be traced back to the Kelvin method designed in the 19th century for studying wave motion problems arising in fluid dynamics.

Stochastic volatility models and Kelvin waves

International Nuclear Information System (INIS)

Lipton, Alex; Sepp, Artur

2008-01-01

We use stochastic volatility models to describe the evolution of an asset price, its instantaneous volatility and its realized volatility. In particular, we concentrate on the Stein and Stein model (SSM) (1991) for the stochastic asset volatility and the Heston model (HM) (1993) for the stochastic asset variance. By construction, the volatility is not sign definite in SSM and is non-negative in HM. It is well known that both models produce closed-form expressions for the prices of vanilla option via the Lewis-Lipton formula. However, the numerical pricing of exotic options by means of the finite difference and Monte Carlo methods is much more complex for HM than for SSM. Until now, this complexity was considered to be an acceptable price to pay for ensuring that the asset volatility is non-negative. We argue that having negative stochastic volatility is a psychological rather than financial or mathematical problem, and advocate using SSM rather than HM in most applications. We extend SSM by adding volatility jumps and obtain a closed-form expression for the density of the asset price and its realized volatility. We also show that the current method of choice for solving pricing problems with stochastic volatility (via the affine ansatz for the Fourier-transformed density function) can be traced back to the Kelvin method designed in the 19th century for studying wave motion problems arising in fluid dynamics

Stochastic volatility models and Kelvin waves

Energy Technology Data Exchange (ETDEWEB)

Lipton, Alex [Merrill Lynch, Mlfc Main, 2 King Edward Street, London EC1A 1HQ (United Kingdom); Sepp, Artur [Merrill Lynch, 4 World Financial Center, New York, NY 10080 (United States)], E-mail: Alex_Lipton@ml.com, E-mail: Artur_Sepp@ml.com

2008-08-29

We use stochastic volatility models to describe the evolution of an asset price, its instantaneous volatility and its realized volatility. In particular, we concentrate on the Stein and Stein model (SSM) (1991) for the stochastic asset volatility and the Heston model (HM) (1993) for the stochastic asset variance. By construction, the volatility is not sign definite in SSM and is non-negative in HM. It is well known that both models produce closed-form expressions for the prices of vanilla option via the Lewis-Lipton formula. However, the numerical pricing of exotic options by means of the finite difference and Monte Carlo methods is much more complex for HM than for SSM. Until now, this complexity was considered to be an acceptable price to pay for ensuring that the asset volatility is non-negative. We argue that having negative stochastic volatility is a psychological rather than financial or mathematical problem, and advocate using SSM rather than HM in most applications. We extend SSM by adding volatility jumps and obtain a closed-form expression for the density of the asset price and its realized volatility. We also show that the current method of choice for solving pricing problems with stochastic volatility (via the affine ansatz for the Fourier-transformed density function) can be traced back to the Kelvin method designed in the 19th century for studying wave motion problems arising in fluid dynamics.

The price of fixed income market volatility

CERN Document Server

Mele, Antonio

2015-01-01

Fixed income volatility and equity volatility evolve heterogeneously over time, co-moving disproportionately during periods of global imbalances and each reacting to events of different nature. While the methodology for options-based "model-free" pricing of equity volatility has been known for some time, little is known about analogous methodologies for pricing various fixed income volatilities. This book fills this gap and provides a unified evaluation framework of fixed income volatility while dealing with disparate markets such as interest-rate swaps, government bonds, time-deposits and credit. It develops model-free, forward looking indexes of fixed-income volatility that match different quoting conventions across various markets, and uncovers subtle yet important pitfalls arising from naïve superimpositions of the standard equity volatility methodology when pricing various fixed income volatilities. The ultimate goal of the authors´ efforts is to make interest rate volatility standardization a valuable...

Demonstration of Novel Sampling Techniques for Measurement of Turbine Engine Volatile and Non-Volatile Particulate Matter (PM) Emissions

Science.gov (United States)

2017-03-06

WP-201317) Demonstration of Novel Sampling Techniques for Measurement of Turbine Engine Volatile and Non-volatile Particulate Matter (PM... Engine Volatile and Non-Volatile Particulate Matter (PM) Emissions 6. AUTHOR(S) E. Corporan, M. DeWitt, C. Klingshirn, M.D. Cheng, R. Miake-Lye, J. Peck...the performance and viability of two devices to condition aircraft turbine engine exhaust to allow the accurate measurement of total (volatile and non

It's the little things that matter most: The role of volatiles in volcanoes and their magmatic roots

Science.gov (United States)

Keller, T.; Suckale, J.

2017-12-01

Many volcanic eruptions are driven by volatiles - mostly H2O and CO2 - that degas from magmas rising up beneath the volcano. Gas expands during ascent, thus frequently creating lavas with upward of 50% vesicularity. That is a particularly compelling observation considering that volatiles are only present at concentrations of order 100 ppm in the mantle source. Yet, even at these small concentrations, volatiles significantly lower the peridotite solidus. That leads to the production of reactive volatile-rich melts at depth, which has important consequences for melt transport in the asthenosphere. Thus, volatiles have a pivotal role both at the beginning and the end of the magmatic storyline. A growing amount of observational evidence provides various perspectives on these systems. Volcanic products are characterised increasingly well by geochemical and petrological data. And, volcano monitoring now often provides continuous records of degassing flux and composition. What is missing to better interpret these data are coupled fluid mechanic and thermodynamic models that link melt production and reactive transport in the mantle and crust with degassing-driven volcanic activity at the surface. Such models need to describe the deformation and segregation of multiple material phases (liquids, solids, gases) and track the reactive transport of diverse chemical components (major elements, trace elements, volatiles). I will present progress towards a generalization of existing two-phase model for melt transport in the mantle, extending them to three-phase flows appropriate for magma circulation and degassing in volcanoes. What sets the two environments apart is the presence of a compressible vapor in volcanoes. Also, volcanic degassing may occur by convecting suspensions as well as porous segregation. The model framework we are developing for these processes is based on mixture theory. Uncovering the underlying physics that connects these diverse expressions of magma

Financial market volatility and contagion effect: A copula-multifractal volatility approach

Science.gov (United States)

Chen, Wang; Wei, Yu; Lang, Qiaoqi; Lin, Yu; Liu, Maojuan

2014-03-01

In this paper, we propose a new approach based on the multifractal volatility method (MFV) to study the contagion effect between the U.S. and Chinese stock markets. From recent studies, which reveal that multifractal characteristics exist in both developed and emerging financial markets, according to the econophysics literature we could draw conclusions as follows: Firstly, we estimate volatility using the multifractal volatility method, and find out that the MFV method performs best among other volatility models, such as GARCH-type and realized volatility models. Secondly, we analyze the tail dependence structure between the U.S. and Chinese stock market. The estimated static copula results for the entire period show that the SJC copula performs best, indicating asymmetric characteristics of the tail dependence structure. The estimated dynamic copula results show that the time-varying t copula achieves the best performance, which means the symmetry dynamic t copula is also a good choice, for it is easy to estimate and is able to depict both the upper and lower tail dependence structure. Finally, with the results of the previous two steps, we analyze the contagion effect between the U.S. and Chinese stock markets during the subprime mortgage crisis. The empirical results show that the subprime mortgage crisis started in the U.S. and that its stock market has had an obvious contagion effect on the Chinese stock market. Our empirical results should/might be useful for investors allocating their portfolios.

Dynamic Estimation of Volatility Risk Premia and Investor Risk Aversion from Option-Implied and Realized Volatilities

DEFF Research Database (Denmark)

Bollerslev, Tim; Gibson, Michael; Zhou, Hao

experiment confirms that the procedure works well in practice. Implementing the procedure with actual S&P500 option-implied volatilities and high-frequency five-minute-based realized volatilities indicates significant temporal dependencies in the estimated stochastic volatility risk premium, which we in turn...

Parallel Prediction of Stock Volatility

Directory of Open Access Journals (Sweden)

Priscilla Jenq

2017-10-01

Full Text Available Volatility is a measurement of the risk of financial products. A stock will hit new highs and lows over time and if these highs and lows fluctuate wildly, then it is considered a high volatile stock. Such a stock is considered riskier than a stock whose volatility is low. Although highly volatile stocks are riskier, the returns that they generate for investors can be quite high. Of course, with a riskier stock also comes the chance of losing money and yielding negative returns. In this project, we will use historic stock data to help us forecast volatility. Since the financial industry usually uses S&P 500 as the indicator of the market, we will use S&P 500 as a benchmark to compute the risk. We will also use artificial neural networks as a tool to predict volatilities for a specific time frame that will be set when we configure this neural network. There have been reports that neural networks with different numbers of layers and different numbers of hidden nodes may generate varying results. In fact, we may be able to find the best configuration of a neural network to compute volatilities. We will implement this system using the parallel approach. The system can be used as a tool for investors to allocating and hedging assets.

Volatile communication in plant-aphid interactions.

Science.gov (United States)

de Vos, Martin; Jander, Georg

2010-08-01

Volatile communication plays an important role in mediating the interactions between plants, aphids, and other organisms in the environment. In response to aphid infestation, many plants initiate indirect defenses through the release of volatiles that attract ladybugs, parasitoid wasps, and other aphid-consuming predators. Aphid-induced volatile release in the model plant Arabidopsis thaliana requires the jasmonate signaling pathway. Volatile release is also induced by infection with aphid-transmitted viruses. Consistent with mathematical models of optimal transmission, viruses that are acquired rapidly by aphids induce volatile release to attract migratory aphids, but discourage long-term aphid feeding. Although the ecology of these interactions is well-studied, further research is needed to identify the molecular basis of aphid-induced and virus-induced changes in plant volatile release. Copyright 2010 Elsevier Ltd. All rights reserved.

Essays on nonparametric econometrics of stochastic volatility

NARCIS (Netherlands)

Zu, Y.

2012-01-01

Volatility is a concept that describes the variation of financial returns. Measuring and modelling volatility dynamics is an important aspect of financial econometrics. This thesis is concerned with nonparametric approaches to volatility measurement and volatility model validation.

The exploitation of volatile oil

Institute of Scientific and Technical Information of China (English)

MENG Teng; ZHANG Da; TENG Xiangjin; LINing; HAO Zaibin

2007-01-01

Rose is a kind of favorite ornamental plant. This article briefly introduced the cultivation and the use of rose around the world both in ancient time and nowadays. Today, volatile oil becomes the mainstream of the rose industry. People pay attention to the effect of volatile oil; meanwhile, they speed up their research on extracting volatile oil and the ingredients.

Understanding Financial Market Volatility

NARCIS (Netherlands)

A. Opschoor (Anne)

2014-01-01

markdownabstract__Abstract__ Volatility has been one of the most active and successful areas of research in time series econometrics and economic forecasting in recent decades. Loosely speaking, volatility is defined as the average magnitude of fluctuations observed in some phenomenon over

Oil Volatility Risk and Expected Stock Returns

DEFF Research Database (Denmark)

Christoffersen, Peter; Pan, Xuhui (Nick)

After the financialization of commodity futures markets in 2004-05 oil volatility has become a strong predictor of returns and volatility of the overall stock market. Furthermore, stocks' exposure to oil volatility risk now drives the cross-section of expected returns. The difference in average...... return between the quintile of stocks with low exposure and high exposure to oil volatility is significant at 0.66% per month, and oil volatility risk carries a significant risk premium of -0.60% per month. In the post-financialization period, oil volatility risk is strongly related with various measures...

A room-temperature non-volatile CNT-based molecular memory cell

Science.gov (United States)

Ye, Senbin; Jing, Qingshen; Han, Ray P. S.

2013-04-01

Recent experiments with a carbon nanotube (CNT) system confirmed that the innertube can oscillate back-and-forth even under a room-temperature excitation. This demonstration of relative motion suggests that it is now feasible to build a CNT-based molecular memory cell (MC), and the key to bring the concept to reality is the precision control of the moving tube for sustained and reliable read/write (RW) operations. Here, we show that by using a 2-section outertube design, we are able to suitably recalibrate the system energetics and obtain the designed performance characteristics of a MC. Further, the resulting energy modification enables the MC to operate as a non-volatile memory element at room temperatures. Our paper explores a fundamental understanding of a MC and its response at the molecular level to roadmap a novel approach in memory technologies that can be harnessed to overcome the miniaturization limit and memory volatility in memory technologies.

Supercritical fluid extraction of volatile and non-volatile compounds from Schinus molle L.

Directory of Open Access Journals (Sweden)

M. S. T. Barroso

2011-06-01

Full Text Available Schinus molle L., also known as pepper tree, has been reported to have antimicrobial, antifungal, anti-inflammatory, antispasmodic, antipyretic, antitumoural and cicatrizing properties. This work studies supercritical fluid extraction (SFE to obtain volatile and non-volatile compounds from the aerial parts of Schinus molle L. and the influence of the process on the composition of the extracts. Experiments were performed in a pilot-scale extractor with a capacity of 1 L at pressures of 9, 10, 12, 15 and 20 MPa at 323.15 K. The volatile compounds were obtained by CO2 supercritical extraction with moderate pressure (9 MPa, whereas the non-volatile compounds were extracted at higher pressure (12 to 20 MPa. The analysis of the essential oil was carried out by GC-MS and the main compounds identified were sabinene, limonene, D-germacrene, bicyclogermacrene, and spathulenol. For the non-volatile extracts, the total phenolic content was determined by the Folin-Ciocalteau method. Moreover, one of the goals of this study was to compare the experimental data with the simulated yields predicted by a mathematical model based on mass transfer. The model used requires three adjustable parameters to predict the experimental extraction yield curves.

Long Memory in Stock Market Volatility and the Volatility-in-Mean Effect: The FIEGARCH-M Model

DEFF Research Database (Denmark)

Christensen, Bent Jesper; Nielsen, Morten Ørregaard; Zhu, Jie

We extend the fractionally integrated exponential GARCH (FIEGARCH) model for daily stock return data with long memory in return volatility of Bollerslev and Mikkelsen (1996) by introducing a possible volatility-in-mean effect. To avoid that the long memory property of volatility carries over to r...

Asymmetric Realized Volatility Risk

NARCIS (Netherlands)

D.E. Allen (David); M.J. McAleer (Michael); M. Scharth (Marcel)

2014-01-01

markdownabstract__Abstract__ In this paper we document that realized variation measures constructed from high-frequency returns reveal a large degree of volatility risk in stock and index returns, where we characterize volatility risk by the extent to which forecasting errors in realized

Volatiles (H, C, N, O, noble gases) in comets as tracers of early solar system events (Invited)

Science.gov (United States)

Marty, B.

2013-12-01

Volatiles (H, C, N, O, noble gases) present the largest variations in their relative abundances and, importantly, in their isotopic ratios, among solar system elements. The original composition of the protosolar nebula has been investigated through the measurements of primitive meteorites and of in-situ (e.g. Galileo probe analysis of the Jupiter's atmosphere) and sample-return (Genesis, recovery and analysis of solar wind) missions. The protosolar gas was poor in deuterium, in 15N and in 17,18O. Variations among solar system reservoir reach several hundreds of percents for the D/H and 15N/14N ratios. These variations are possibly : (i) due to interactions between XUV photons of the proto-Sun and the-dust, (ii) result from low temperature ion-molecule reactions, or (iii) constitute an heritage on interstellar volatiles trapped in dust (e.g., organics). Likewise, noble gases are elementally and isotopically (1% per amu for xenon) fractionated with respect to the composition of the solar wind (our best proxy for the protosolar nebula composition). Cometary matter directly measured on coma, or in Stardust material, or in IDPs, seems to present among the largest heterogeneities in their stable isotope compositions but knowledge on their precise compositions of the different phases and species is partial and mosty lacking. Among the several important issues requiring a better knowledge of cometary volatiles are the origin(s) of volatile elements on Earth and Moon, on Mars and on Venus, understanding large scale circulation of matter between hot and frozen zones, and the possibility of interstellar heritage for organics. Critical measurements to be made by the next cometary missions include the value of the D/H ratio in water ice, in NH3 and organics. Nitrogen is particularly interesting as cometary HCN and CN are rich in 15N, but an isotoppe mass balance will require to measure the main host species (N2 ?). Noble gases are excellent tracers of physical processes

Geochemical studies of the White Breccia Boulders at North Ray Crater, Descartes region of the lunar highlands

Science.gov (United States)

Lindstrom, M. M.; Lindstrom, D. J.; Lum, R. K. L.; Schuhmann, P. J.; Nava, D. F.; Schuhmann, S.; Philpotts, J. A.; Winzer, S. R.

1977-01-01

The samples of the White Breccia Boulders obtained during the Apollo 16 mission and investigated in the reported study include an anorthositic breccia (67415), a dark matrix breccia (67435), a light matrix breccia (67455), and a large clast of dark matrix breccia (67475) taken from the 67455 boulder. The chemical analyses of bulk samples of the samples are listed in a table. A graph shows the lithophile trace element abundances. Another graph indicates the variation of Sm with Al2O3 content for samples from the White Breccia Boulders. The North Ray Crater breccias are found to be in general slightly more aluminous than breccias from the other stations at the Apollo 16 site. Analyses of eight Apollo 16 breccias cited in the literature range from 25% to 35% Al2O3. However, the North Ray Crater breccias are more clearly distinct from the other Apollo 16 breccias in their contents of lithophile trace elements.

Nonparametric methods for volatility density estimation

NARCIS (Netherlands)

Es, van Bert; Spreij, P.J.C.; Zanten, van J.H.

2009-01-01

Stochastic volatility modelling of financial processes has become increasingly popular. The proposed models usually contain a stationary volatility process. We will motivate and review several nonparametric methods for estimation of the density of the volatility process. Both models based on

Uncertainty of Volatility Estimates from Heston Greeks

Directory of Open Access Journals (Sweden)

Oliver Pfante

2018-01-01

Full Text Available Volatility is a widely recognized measure of market risk. As volatility is not observed it has to be estimated from market prices, i.e., as the implied volatility from option prices. The volatility index VIX making volatility a tradeable asset in its own right is computed from near- and next-term put and call options on the S&P 500 with more than 23 days and less than 37 days to expiration and non-vanishing bid. In the present paper we quantify the information content of the constituents of the VIX about the volatility of the S&P 500 in terms of the Fisher information matrix. Assuming that observed option prices are centered on the theoretical price provided by Heston's model perturbed by additive Gaussian noise we relate their Fisher information matrix to the Greeks in the Heston model. We find that the prices of options contained in the VIX basket allow for reliable estimates of the volatility of the S&P 500 with negligible uncertainty as long as volatility is large enough. Interestingly, if volatility drops below a critical value of roughly 3%, inferences from option prices become imprecise because Vega, the derivative of a European option w.r.t. volatility, and thereby the Fisher information nearly vanishes.

Two-component mantle melting-mixing model for the generation of mid-ocean ridge basalts: Implications for the volatile content of the Pacific upper mantle

Science.gov (United States)

Shimizu, Kei; Saal, Alberto E.; Myers, Corinne E.; Nagle, Ashley N.; Hauri, Erik H.; Forsyth, Donald W.; Kamenetsky, Vadim S.; Niu, Yaoling

2016-03-01

We report major, trace, and volatile element (CO2, H2O, F, Cl, S) contents and Sr, Nd, and Pb isotopes of mid-ocean ridge basalt (MORB) glasses from the Northern East Pacific Rise (NEPR) off-axis seamounts, the Quebrada-Discovery-GoFar (QDG) transform fault system, and the Macquarie Island. The incompatible trace element (ITE) contents of the samples range from highly depleted (DMORB, Th/La ⩽ 0.035) to enriched (EMORB, Th/La ⩾ 0.07), and the isotopic composition spans the entire range observed in EPR MORB. Our data suggest that at the time of melt generation, the source that generated the EMORB was essentially peridotitic, and that the composition of NMORB might not represent melting of a single upper mantle source (DMM), but rather mixing of melts from a two-component mantle (depleted and enriched DMM or D-DMM and E-DMM, respectively). After filtering the volatile element data for secondary processes (degassing, sulfide saturation, assimilation of seawater-derived component, and fractional crystallization), we use the volatiles to ITE ratios of our samples and a two-component mantle melting-mixing model to estimate the volatile content of the D-DMM (CO2 = 22 ppm, H2O = 59 ppm, F = 8 ppm, Cl = 0.4 ppm, and S = 100 ppm) and the E-DMM (CO2 = 990 ppm, H2O = 660 ppm, F = 31 ppm, Cl = 22 ppm, and S = 165 ppm). Our two-component mantle melting-mixing model reproduces the kernel density estimates (KDE) of Th/La and 143Nd/144Nd ratios for our samples and for EPR axial MORB compiled from the literature. This model suggests that: (1) 78% of the Pacific upper mantle is highly depleted (D-DMM) while 22% is enriched (E-DMM) in volatile and refractory ITE, (2) the melts produced during variable degrees of melting of the E-DMM controls most of the MORB geochemical variation, and (3) a fraction (∼65% to 80%) of the low degree EMORB melts (produced by ∼1.3% melting) may escape melt aggregation by freezing at the base of the oceanic lithosphere, significantly enriching it in

Fluctuation behaviors of financial return volatility duration

Science.gov (United States)

Niu, Hongli; Wang, Jun; Lu, Yunfan

2016-04-01

It is of significantly crucial to understand the return volatility of financial markets because it helps to quantify the investment risk, optimize the portfolio, and provide a key input of option pricing models. The characteristics of isolated high volatility events above certain threshold in price fluctuations and the distributions of return intervals between these events arouse great interest in financial research. In the present work, we introduce a new concept of daily return volatility duration, which is defined as the shortest passage time when the future volatility intensity is above or below the current volatility intensity (without predefining a threshold). The statistical properties of the daily return volatility durations for seven representative stock indices from the world financial markets are investigated. Some useful and interesting empirical results of these volatility duration series about the probability distributions, memory effects and multifractal properties are obtained. These results also show that the proposed stock volatility series analysis is a meaningful and beneficial trial.

Ambient Volatility of Triethyl Phosphate

Science.gov (United States)

2017-08-01

of materials is predictable using Raoult’s law. This report details the measurement of the effect of water vapor partial pressure on the volatility...empirical correlation taking into account nonideal behavior was developed to enable estimation of TEPO volatility at any combination of ambient...of the second component is expected to be one-half as much as in the absence of water vapor. Similarly, the measured volatility of the second

Volatility persistence in crude oil markets

International Nuclear Information System (INIS)

Charles, Amélie; Darné, Olivier

2014-01-01

Financial market participants and policy-makers can benefit from a better understanding of how shocks can affect volatility over time. This study assesses the impact of structural changes and outliers on volatility persistence of three crude oil markets – Brent, West Texas Intermediate (WTI) and Organization of Petroleum Exporting Countries (OPEC) – between January 2, 1985 and June 17, 2011. We identify outliers using a new semi-parametric test based on conditional heteroscedasticity models. These large shocks can be associated with particular event patterns, such as the invasion of Kuwait by Iraq, the Operation Desert Storm, the Operation Desert Fox, and the Global Financial Crisis as well as OPEC announcements on production reduction or US announcements on crude inventories. We show that outliers can bias (i) the estimates of the parameters of the equation governing volatility dynamics; (ii) the regularity and non-negativity conditions of GARCH-type models (GARCH, IGARCH, FIGARCH and HYGARCH); and (iii) the detection of structural breaks in volatility, and thus the estimation of the persistence of the volatility. Therefore, taking into account the outliers on the volatility modelling process may improve the understanding of volatility in crude oil markets. - Highlights: • We study the impact of outliers on volatility persistence of crude oil markets. • We identify outliers and patches of outliers due to specific events. • We show that outliers can bias (i) the estimates of the parameters of GARCH models, (ii) the regularity and non-negativity conditions of GARCH-type models, (iii) the detection of structural breaks in volatility of crude oil markets

Release of radioactive fission products from BN-600 reactor untight fuel elements

International Nuclear Information System (INIS)

Osipov, S.L.; Tsikunov, A.G.; Lisitsin, E.C.

1996-01-01

The experimental data on the release of radioactive fission products from BN-600 reactor untight fuel elements are given in the report. Various groups of radionuclides: inert gases Xe, Kr, volatile Cs, J, non-volatile Nb, and La are considered. The results of calculation-experimental study of transfer and distribution of radionuclides in the reactor primary circuit, gas system and sodium coolant are considered. It is shown that some complex radioactivity transfer processes can be described by simple mathematical models. (author)

Improving Garch Volatility Forecasts

NARCIS (Netherlands)

Klaassen, F.J.G.M.

1998-01-01

Many researchers use GARCH models to generate volatility forecasts. We show, however, that such forecasts are too variable. To correct for this, we extend the GARCH model by distinguishing two regimes with different volatility levels. GARCH effects are allowed within each regime, so that our model

Separation and spectrophotometric determination of elements

International Nuclear Information System (INIS)

Marczenko, Z.

1986-01-01

This book is a useful text intended as a reference for the laboratory that is either involved in spectrophotometric analysis or requires separations prior to analysis by any method. It attempts to cover a diverse series of topics in fewer than 700 pages. Part I of the book covers general topics such as separation schemes (solvent extraction, precipitation, volatility, ion exchange), principles and instrumentation used for spectrophotometry, and color reagents in only 119 pages. Entire books have been written on each of those subjects. The author must therefore resort to extensive referencing to cover each subject adequately. Part II, Methods for Separation and Determination of Individual Elements, discusses all elements - both nonmetals and metals and major procedures for the separation and spectrophotometric determination of each element are adequately covered

The effect of volatility on percutaneous absorption.

Science.gov (United States)

Rouse, Nicole C; Maibach, Howard I

2016-01-01

Topically applied chemicals may volatilize, or evaporate, from skin leaving behind a chemical residue with new percutaneous absorptive capabilities. Understanding volatilization of topical medications, such as sunscreens, fragrances, insect repellants, cosmetics and other commonly applied topicals may have implications for their safety and efficacy. A systematic review of English language articles from 1979 to 2014 was performed using key search terms. Articles were evaluated to assess the relationship between volatility and percutaneous absorption. A total of 12 articles were selected and reviewed. Key findings were that absorption is enhanced when coupled with a volatile substance, occlusion prevents evaporation and increases absorption, high ventilation increases volatilization and reduces absorption, and pH of skin has an affect on a chemical's volatility. The articles also brought to light that different methods may have an affect on volatility: different body regions; in vivo vs. in vitro; human vs. Data suggest that volatility is crucial for determining safety and efficacy of cutaneous exposures and therapies. Few articles have been documented reporting evaporation in the context of percutaneous absorption, and of those published, great variability exists in methods. Further investigation of volatility is needed to properly evaluate its role in percutaneous absorption.

Trace element emissions from coal

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-09-15

Trace elements are emitted during coal combustion. The quantity, in general, depends on the physical and chemical properties of the element itself, the concentration of the element in the coal, the combustion conditions and the type of particulate control device used, and its collection efficiency as a function of particle size. Some trace elements become concentrated in certain particle streams following combustion such as bottom ash, fly ash, and flue gas particulate matter, while others do not. Various classification schemes have been developed to describe this partitioning behaviour. These classification schemes generally distinguish between: Class 1: elements that are approximately equally concentrated in the fly ash and bottom ash, or show little or no fine particle enrichment, examples include Mn, Be, Co and Cr; Class 2: elements that are enriched in the fly ash relative to bottom ash, or show increasing enrichment with decreasing particle size, examples include As, Cd, Pb and Sb; Class 3: elements which are emitted in the gas phase (primarily Hg (not discussed in this review), and in some cases, Se). Control of class 1 trace elements is directly related to control of total particulate matter emissions, while control of the class 2 elements depends on collection of fine particulates. Due to the variability in particulate control device efficiencies, emission rates of these elements can vary substantially. The volatility of class 3 elements means that particulate controls have only a limited impact on the emissions of these elements.

Measurements of non-volatile aerosols with a VTDMA and their correlations with carbonaceous aerosols in Guangzhou, China

Directory of Open Access Journals (Sweden)

H. H. Y. Cheung

2016-07-01

Full Text Available Simultaneous measurements of aerosol volatility and carbonaceous matters were conducted at a suburban site in Guangzhou, China, in February and March 2014 using a volatility tandem differential mobility analyzer (VTDMA and an organic carbon/elemental carbon (OC ∕ EC analyzer. Low volatility (LV particles, with a volatility shrink factor (VSF at 300 °C exceeding 0.9, contributed 5 % of number concentrations of the 40 nm particles and 11–15 % of the 80–300 nm particles. They were composed of non-volatile material externally mixed with volatile material, and therefore did not evaporate significantly at 300 °C. Non-volatile material mixed internally with the volatile material was referred to as medium volatility (MV, 0.4  <  VSF  <  0.9 and high volatility (HV, VSF  <  0.4 particles. The MV and HV particles contributed 57–71 % of number concentration for the particles between 40 and 300 nm in size. The average EC and OC concentrations measured by the OC ∕ EC analyzer were 3.4 ± 3.0 and 9.0 ± 6.0 µg m−3, respectively. Non-volatile OC evaporating at 475 °C or above, together with EC, contributed 67 % of the total carbon mass. In spite of the daily maximum and minimum, the diurnal variations in the volume fractions of the volatile material, HV, MV and LV residuals were less than 15 % for the 80–300 nm particles. Back trajectory analysis also suggests that over 90 % of the air masses influencing the sampling site were well aged as they were transported at low altitudes (below 1500 m for over 40 h before arrival. Further comparison with the diurnal variations in the mass fractions of EC and the non-volatile OC in PM2.5 suggests that the non-volatile residuals may be related to both EC and non-volatile OC in the afternoon, during which the concentration of aged organics increased. A closure analysis of the total mass of LV and MV residuals and the mass of EC or the

Isotopic and trace element constraints on the genesis of a boninitic sequence in the Thetford Mines ophiolitic complex, Quebec, Canada

International Nuclear Information System (INIS)

Olive, V.; Hebert, R.; Loubet, M.

1997-01-01

The Mont Ham Massif (part of the Thetford Mines ophiolite, south Quebec) represents a magmatic sequence made up of tholeiitic and boninitic derived products. A geochemical study confirms the multicomponent mixing models that have been classically advanced for the source of boninites, with slab-derived components added to the main refractory harzburgitic peridotite. An isochron diagram of the boninitic rocks is interpreted as a mixing trend between two components: (i) a light rare earth element (LREE) enriched component (A), interpreted as slab-derived fluid-melts equilibrated with sedimentary materials (ε Nd = -3, 147 Sm/ 144 Nd = 0.140), and (ii) a LREE-depleted component (B) (0.21 147 Sm/ 144 Nd Nd = 9). A multicomponent source is also necessary to explain the Nd-isotope and trace element composition of the tholeiites, which are explained by the melting of a more fertile, Iherzolitic mantle and (or) mid-ocean ridge basalt source (component C), characterized by a large-ion lithophile element depicted pattern and an lapetus mantle Nd isotopic composition (ε Nd = 9), mixed in adequate proportions with the two previously infered slab-derived components (A and B). The genesis of the boninites of Mont Ham is not significantly different from those of boninites located in the Pacific. An intraoceanic subduction zone appears to be an appropriate geodynamic environment for the Mont Ham ophiolitic sequence. (author)

Interior Volatile Reservoirs in Mercury

Science.gov (United States)

Anzures, B. A.; Parman, S. W.; Milliken, R. E.; Head, J. W.

2018-05-01

More measurements of 1) surface volatiles, and 2) pyroclastic deposits paired with experimental volatile analyses in silicate minerals can constrain conditions of melting and subsequent eruption on Mercury.

Non-volatile memories

CERN Document Server

Lacaze, Pierre-Camille

2014-01-01

Written for scientists, researchers, and engineers, Non-volatile Memories describes the recent research and implementations in relation to the design of a new generation of non-volatile electronic memories. The objective is to replace existing memories (DRAM, SRAM, EEPROM, Flash, etc.) with a universal memory model likely to reach better performances than the current types of memory: extremely high commutation speeds, high implantation densities and retention time of information of about ten years.

Volcanic fluxes of volatiles. Preliminary estimates based on rare gas and major volatile calibration

International Nuclear Information System (INIS)

Marty, B.

1992-01-01

New estimates for volatile fluxes into the atmosphere and hydrosphere through volcanism have been computed using the measured fluxes of 3 He in oceans and SO 2 in the atmosphere, and the ratios between the volatiles in Mid-Ocean Ridge basalts and in high temperature volcanic gases. These estimates have been checked using independent estimates of the volcanic fluxes. This method provides a reliable means of tracing volatile fluxes, although its precision is restricted by the limited amount of data currently available. (author). 19 refs, 1 tab

Oil price volatility, financial regulation and energy policy

International Nuclear Information System (INIS)

Chevalier, J.M.

2010-01-01

In October of 2009, the French Ministry of Economy asked the author to chair a work group on oil price volatility. The report resulting from that work was submitted to the minister on February 9, 2010. Based on the report, this article focuses on three major elements: (i) the operation of the oil market, with interacting physical basics and financial basics (ii) financial market regulation, more specifically commodities-derived product markets and current work in that area and (iii) the lessons one can draw from that exercise in terms of energy policy. Significant projects have been initiated on global, European and national levels. (author)

Detailed finite element method modeling of evaporating multi-component droplets

Energy Technology Data Exchange (ETDEWEB)

Diddens, Christian, E-mail: C.Diddens@tue.nl

2017-07-01

The evaporation of sessile multi-component droplets is modeled with an axisymmetic finite element method. The model comprises the coupled processes of mixture evaporation, multi-component flow with composition-dependent fluid properties and thermal effects. Based on representative examples of water–glycerol and water–ethanol droplets, regular and chaotic examples of solutal Marangoni flows are discussed. Furthermore, the relevance of the substrate thickness for the evaporative cooling of volatile binary mixture droplets is pointed out. It is shown how the evaporation of the more volatile component can drastically decrease the interface temperature, so that ambient vapor of the less volatile component condenses on the droplet. Finally, results of this model are compared with corresponding results of a lubrication theory model, showing that the application of lubrication theory can cause considerable errors even for moderate contact angles of 40°. - Graphical abstract:.

The effect of repeated melting of zircaloy-4 to the distribution of volatile constituents

International Nuclear Information System (INIS)

Johneri, E.; Wijaksana; Badruzzaman, M.

1996-01-01

The effect of repeated fusion on the composition and distribution of zircaloy volatile elemental constituents (especially Sn) has been investigated. The results showed that the higher the number of repeated fusion is, the more evenly distributed the constituents are, but the composition decreased until reached constant values. This phenomenon occurred due to the relatively faster diffusion movement of one element compared to the others. Further investigation needs to be done to find other proofs of the phenomenon. Moreover, continued research is in demand in order to answer technological problems regarding the zircaloy production and metal alloy production in general. (author)

[Chemical components of Vetiveria zizanioides volatiles].

Science.gov (United States)

Huang, Jinghua; Li, Huashou; Yang, Jun; Chen, Yufen; Liu, Yinghu; Li, Ning; Nie, Chengrong

2004-01-01

The chemical components of the volatiles from Vetiveria zizanioides were analyzed by SPME and GC-MS. In the roots, the main component was valencene (30.36%), while in the shoots and leaves, they were 9-octadecenamide (33.50%), 2,6,10,15,19,23-hexamethyl-2,6,10,14,18,22-tetracosahexaene (27.46%), and 1,2-benzendicarboxylic acid, diisooctyl ester(18.29%). The results showed that there were many terpenoids in the volatils. In shoot volatiles, there existed 3 monoterpenes, 2 sequiterpenes and 1 triterpene. Most of the volatiles in roots were sesquiterpenes.

Implications for metal and volatile cycles from the pH of subduction zone fluids

Science.gov (United States)

Galvez, Matthieu E.; Connolly, James A. D.; Manning, Craig E.

2016-11-01

The chemistry of aqueous fluids controls the transport and exchange—the cycles—of metals and volatile elements on Earth. Subduction zones, where oceanic plates sink into the Earth’s interior, are the most important geodynamic setting for this fluid-mediated chemical exchange. Characterizing the ionic speciation and pH of fluids equilibrated with rocks at subduction zone conditions has long been a major challenge in Earth science. Here we report thermodynamic predictions of fluid-rock equilibria that tie together models of the thermal structure, mineralogy and fluid speciation of subduction zones. We find that the pH of fluids in subducted crustal lithologies is confined to a mildly alkaline range, modulated by rock volatile and chlorine contents. Cold subduction typical of the Phanerozoic eon favours the preservation of oxidized carbon in subducting slabs. In contrast, the pH of mantle wedge fluids is very sensitive to minor variations in rock composition. These variations may be caused by intramantle differentiation, or by infiltration of fluids enriched in alkali components extracted from the subducted crust. The sensitivity of pH to soluble elements in low abundance in the host rocks, such as carbon, alkali metals and halogens, illustrates a feedback between the chemistry of the Earth’s atmosphere-ocean system and the speciation of subduction zone fluids via the composition of the seawater-altered oceanic lithosphere. Our findings provide a perspective on the controlling reactions that have coupled metal and volatile cycles in subduction zones for more than 3 billion years7.

Amphibole trace elements as indicators of magmatic processes at Mount St. Helens

Science.gov (United States)

Hampel, T. R.; Rowe, M. C.; Kent, A.; Thornber, C. R.

2011-12-01

Amphibole has the capability of incorporating a wide variety of trace elements resulting from a range of magmatic processes. Prior studies have used trace elements such as Li and Cu in amphibole to investigate volatile mobility associated with magma ascent regarding the 2004-2008 eruption of Mount St. Helens (Rowe et al. 2008). In order to investigate magmatic processes associated with the 2004-2008 eruption of Mount St. Helens we have measured a range of fluid-mobile trace elements in conjunction with major element compositions of amphibole phenocrysts in dacite lava. Major elements and volatiles (Cl, F) were measured by electron microprobe analysis at Washington State University and trace elements (Li, Sc, Co, Cu, Zn, Sr, Y, Zr, Mo, Ag, Sn, Sb, Te, Ba, Ce, W, and Pb) were analyzed by laser ablation (LA)-ICP-MS at Oregon State University. Amphibole crystallization temperatures were calculated after Ridolfi et al. (2010). Core to rim transects were measured by electron microprobe to evaluate volatile concentrations and temperature profiles across individual phenocrysts. Core temperatures from 17 days and 226 days post eruption are consistently hotter than the rim temperatures 997 to 881 degrees C, respectively. Amphiboles from the end of the eruption (811 days post eruption) appear to be more complex, with phenocrysts having both increasing and decreasing temperatures toward the rims. The overall calculated temperature range of the amphiboles at the end of the eruption is 1022 to 919 degrees C. There is much diversity in the concentrations of Li and Cu within the phenocrysts in both the samples and throughout the eruption. Concentrations steadily increase in the beginning of the eruption then drop dramatically toward the middle, slowly increase toward the end eruption. Overall concentrations of Sr, Sb, Co, Sn, Mo, Ba, Ce, Sc, and Y do not change over the course of the eruption but do vary sample to sample. Preliminary data for Zn, Sb, Ag, and W suggest the

PERUBAHAN KOMPONEN VOLATIL SELAMA FERMENTASI KECAP [Change Volatile Components During Soy Sauce Fermentation

Directory of Open Access Journals (Sweden)

Anton Apriyantono1

2004-08-01

Full Text Available A study has been conducted to investigate changes of volatile components during soy sauce fermentation. During the fermentation, many volatile components produced may contribute to soy sauce flavor. THe volatile identified by GC-MS werw classified into hydrocarbon (15, alcohol (15, aldehyde (14, ester (14, ketone (9, benzene derivative (11, fatty acid (9, furan (5, terpenoid (18, pyrazine (3, thiazole (1, pyridine (1 and sulfur containing compound (2.Concentration of compounds found in almost all fermentation steps, such as hexanal and benzaldehyde did. These compounds may be derived from raw soybean, since they were all present in raw soybean and their concentration did not change during fermentation. Concentration of palmitic acid and benzeneacetaldehyde, in general, increased during all fermentation steps. They are probably derived from lipid degradation or microorganism activities. Concentrations of some fatty acids, esters and hydrocarbons, such as linoleic acid, methyl palmitate and heptadecane increased during salt fermentation only. Concentration of some other compounds, such as 2,4 decadienal decreased or undetected during fermentation.The absence of some volatile compounds, e.g. (E-nerolidol and (E,E-famesol in boiled soybean which were previously present in raw soybean may be due to evaporation of these compounds during boiling. Some volatile compounds such as, methyl heptadecanoate and few aromatic alcohols are likely derived from Aspergillus sojae, since these compounds were identified only in 0 day koji

Maximum likelihood approach for several stochastic volatility models

International Nuclear Information System (INIS)

Camprodon, Jordi; Perelló, Josep

2012-01-01

Volatility measures the amplitude of price fluctuations. Despite it being one of the most important quantities in finance, volatility is not directly observable. Here we apply a maximum likelihood method which assumes that price and volatility follow a two-dimensional diffusion process where volatility is the stochastic diffusion coefficient of the log-price dynamics. We apply this method to the simplest versions of the expOU, the OU and the Heston stochastic volatility models and we study their performance in terms of the log-price probability, the volatility probability, and its Mean First-Passage Time. The approach has some predictive power on the future returns amplitude by only knowing the current volatility. The assumed models do not consider long-range volatility autocorrelation and the asymmetric return-volatility cross-correlation but the method still yields very naturally these two important stylized facts. We apply the method to different market indices and with a good performance in all cases. (paper)

Stochastic volatility and stochastic leverage

DEFF Research Database (Denmark)

Veraart, Almut; Veraart, Luitgard A. M.

This paper proposes the new concept of stochastic leverage in stochastic volatility models. Stochastic leverage refers to a stochastic process which replaces the classical constant correlation parameter between the asset return and the stochastic volatility process. We provide a systematic...... treatment of stochastic leverage and propose to model the stochastic leverage effect explicitly, e.g. by means of a linear transformation of a Jacobi process. Such models are both analytically tractable and allow for a direct economic interpretation. In particular, we propose two new stochastic volatility...... models which allow for a stochastic leverage effect: the generalised Heston model and the generalised Barndorff-Nielsen & Shephard model. We investigate the impact of a stochastic leverage effect in the risk neutral world by focusing on implied volatilities generated by option prices derived from our new...

Modelling the Volatility-Return Trade-off when Volatility may be Nonstationary

DEFF Research Database (Denmark)

Dahl, Christian Møller; Iglesias, Emma M.

In this paper a new GARCH-M type model, denoted the GARCH-AR, is proposed. In particular, it is shown that it is possible to generate a volatility-return trade-off in a regression model simply by introducing dynamics in the standardized disturbance process. Importantly, the volatility in the GARCH......, we provide an empirical illustration showing the empirical relevance of the GARCH-AR model based on modelling a wide range of leading US stock return series....

Radioactive elements on Mercury's surface from MESSENGER: implications for the planet's formation and evolution.

Science.gov (United States)

Peplowski, Patrick N; Evans, Larry G; Hauck, Steven A; McCoy, Timothy J; Boynton, William V; Gillis-Davis, Jeffery J; Ebel, Denton S; Goldsten, John O; Hamara, David K; Lawrence, David J; McNutt, Ralph L; Nittler, Larry R; Solomon, Sean C; Rhodes, Edgar A; Sprague, Ann L; Starr, Richard D; Stockstill-Cahill, Karen R

2011-09-30

The MESSENGER Gamma-Ray Spectrometer measured the average surface abundances of the radioactive elements potassium (K, 1150 ± 220 parts per million), thorium (Th, 220 ± 60 parts per billion), and uranium (U, 90 ± 20 parts per billion) in Mercury's northern hemisphere. The abundance of the moderately volatile element K, relative to Th and U, is inconsistent with physical models for the formation of Mercury requiring extreme heating of the planet or its precursor materials, and supports formation from volatile-containing material comparable to chondritic meteorites. Abundances of K, Th, and U indicate that internal heat production has declined substantially since Mercury's formation, consistent with widespread volcanism shortly after the end of late heavy bombardment 3.8 billion years ago and limited, isolated volcanic activity since.

Volatile release and particle formation characteristics of injected pulverized coal in blast furnaces

International Nuclear Information System (INIS)

Chen, Wei-Hsin; Du, Shan-Wen; Yang, Tsung-Han

2007-01-01

Volatiles release and particle formation for two kinds of pulverized coals (a high volatile bituminous coal and a low volatile bituminous coal) in a drop tube furnace are investigated to account for the reactions of pulverized coal injected in blast furnaces. Two different sizes of feed particles are considered; one is 100-200 mesh and the other is 200-325 mesh. By evaluating the R-factor, the devolatilization extent of the larger feed particles is found to be relatively poor. However, the swelling behavior of individual or two agglomerated particles is pronounced, which is conducive to gasification of the chars in blast furnaces. In contrast, for the smaller feed particles, volatiles liberated from the coal particles can be improved in a significant way as a result of the amplified R-factor. This enhancement can facilitate the performance of gas phase combustion. Nevertheless, the residual char particles are characterized by agglomeration, implying that the reaction time of the char particles will be lengthened, thereby increasing the possibility of furnace instability. Double peak distributions in char particle size are observed in some cases. This possibly results from the interaction of the plastic state and the blowing effect at the particle surface. Considering the generation of tiny aerosols composed of soot particles and tar droplets, the results indicate that their production is highly sensitive to the volatile matter and elemental oxygen contained in the coal. Comparing the reactivity of the soot to that of the unburned char, the former is always lower than the latter. Consequently, the lower is the soot formation, the better is the blast furnace stability

FORMING CHONDRULES IN IMPACT SPLASHES. II. VOLATILE RETENTION

Energy Technology Data Exchange (ETDEWEB)

Dullemond, Cornelis Petrus; Harsono, Daniel; Stammler, Sebastian Markus [Institute for Theoretical Astrophysics, Heidelberg University, Albert-Ueberle-Strasse 2, D-69120 Heidelberg (Germany); Johansen, Anders [Lund Observatory, Department of Astronomy and Theoretical Physics, Lund University, Box 43, SE-22100 Lund (Sweden)

2016-11-20

Solving the mystery of the origin of chondrules is one of the most elusive goals in the field of meteoritics. Recently, the idea of planet(esimal) collisions releasing splashes of lava droplets, long considered out of favor, has been reconsidered as a possible origin of chondrules by several papers. One of the main problems with this idea is the lack of quantitative and simple models that can be used to test this scenario by directly comparing to the many known observables of chondrules. In Paper I of this series, we presented a simple thermal evolution model of a spherically symmetric expanding cloud of molten lava droplets that is assumed to emerge from a collision between two planetesimals. The production of lava could be either because the two planetesimals were already in a largely molten (or almost molten) state due to heating by {sup 26}Al, or due to impact jetting at higher impact velocities. In the present paper, number II of this series, we use this model to calculate whether or not volatile elements such as Na and K will remain abundant in these droplets or whether they will get depleted due to evaporation. The high density of the droplet cloud (e.g., small distance between adjacent droplets) causes the vapor to quickly reach saturation pressure and thus shuts down further evaporation. We show to what extent, and under which conditions, this keeps the abundances of these elements high, as is seen in chondrules. We find that for most parameters of our model (cloud mass, expansion velocity, initial temperature) the volatile elements Mg, Si, and Fe remain entirely in the chondrules. The Na and K abundances inside the droplets will initially stay mostly at their initial values due to the saturation of the vapor pressure, but at some point start to drop due to the cloud expansion. However, as soon as the temperature starts to decrease, most or all of the vapor recondenses again. At the end, the Na and K elements retain most of their initial abundances, albeit

Space-weathering processes and products on volatile-rich asteroids

Science.gov (United States)

Britt, D.; Schelling, P.; Consolmagno, G.; Bradley, T.

2014-07-01

Space weathering is a generic term for the effects on atmosphereless solid bodies in the solar system from a range of processes associated with direct exposure to the space environment. These include impact processes (shock, vaporization, fragmentation, heating, melting, and ejecta formation), radiation damage (from galactic and solar cosmic rays), solar-wind effects (irradiation, ion implantation, and sputtering), and the chemical reactions driven by these processes. The classic example of space weathering is the formation of the lunar spectral red slope associated with the production of nanophase Fe (npFe0) in the dusty lunar regolith (C.R. Chapman, 2004, Annual Review of Earth & Planet. Sci. 32, C.M. Pieters, 2000, MAPS 35). Similar npFe0 has been recovered from asteroid (25143) Itokawa and some asteroid classes do exhibit modest spectral red slopes (T. Noguchi, 2011, Science 333). Space weathering can be thought of as driven by a combination of the chemical environment of space (hard vacuum, low oxygen fugacity, solar-wind implantation of hydrogen) along with thermal energy supplied by micrometeorite impacts. The forward modeling of space weathering as thermodynamically-driven decomposition of common rock-forming minerals suggests the production of a range of daughter products: (1) The silicate products typically lose oxygen, other volatile elements (i.e., sulfur and sodium), and metallic cations, producing minerals that are typically more disordered and less optically active than the original parent materials. (2) The decomposed metallic cations form in nano-sized blebs including npFe0, on the surfaces or in condensing rims of mineral grains. This creates a powerful optical component as seen in the lunar red slope. Surfaces with exposed npFe0 are an ideal environment for catalyzing further reactions. (3) The liberated volatile elements and gases (O, S, Na) may form an observable exosphere (e.g., Moon and Mercury) and can either escape from the body or

Manure application and ammonia volatilization

NARCIS (Netherlands)

Huijsmans, J.F.M.

2003-01-01

Keywords: manure application, ammonia volatilization, environmental conditions, application technique, incorporation technique, draught force, work organization, costs Livestock manure applied on farmland is an important source of ammonia (NH3) volatilization, and NH3 is a major atmospheric

Inflation Volatility and the Inflation-Growth Tradeoff in India

OpenAIRE

Raghbendra Jha; Varsha S. Kulkarni

2012-01-01

This paper amends the New Keynesian Phillips curve model to include inflation volatility and tests the determinants of such volatility for India. It provides results on the determinants of inflation volatility and expected inflation volatility for OLS and ARDL (1,1) models and for change in inflation volatility and change in expected inflation volatility using ECM models. Output gap affects change in expected inflation volatility along (in the ECM model) and not in the other models. Major det...

Financial Development, Financial Structure, and Macroeconomic Volatility: Evidence from China

Directory of Open Access Journals (Sweden)

Feng Wei

2016-11-01

Full Text Available Using annual data from 1997–2014 of 30 provinces, municipalities, and autonomous regions, subdividing trended and cyclical volatility of macroeconomics and inflation, considering different indicators of financial development and financial structure, this paper investigated the impact of financial development and financial structure on macroeconomic volatility. The empirical results found that (1 the trended and cyclical volatility of the previous macroeconomic period had a significantly positive impact on that of the current period, and the impact of trended volatility was greater than that of cyclical volatility; (2 financial development had a significantly negative impact on macroeconomic cyclical volatility through inflation cyclical volatility, but inflation trended volatility would amplify macroeconomic volatility; financial markets have no significant effect on macroeconomic volatility; financial structure measured with the ratio of stock market turnover and the efficiency of the financial development had a significant positive impact on macroeconomic cyclical volatility; and (3 inflation trended volatility had a significantly negative impact on macroeconomic cyclical volatility and trended volatility, while inflation cyclical volatility had a significantly positive impact on macroeconomic cyclical volatility.

Influence of precipitating light elements on stable stratification below the core/mantle boundary

Science.gov (United States)

O'Rourke, J. G.; Stevenson, D. J.

2017-12-01

Stable stratification below the core/mantle boundary is often invoked to explain anomalously low seismic velocities in this region. Diffusion of light elements like oxygen or, more slowly, silicon could create a stabilizing chemical gradient in the outermost core. Heat flow less than that conducted along the adiabatic gradient may also produce thermal stratification. However, reconciling either origin with the apparent longevity (>3.45 billion years) of Earth's magnetic field remains difficult. Sub-isentropic heat flow would not drive a dynamo by thermal convection before the nucleation of the inner core, which likely occurred less than one billion years ago and did not instantly change the heat flow. Moreover, an oxygen-enriched layer below the core/mantle boundary—the source of thermal buoyancy—could establish double-diffusive convection where motion in the bulk fluid is suppressed below a slowly advancing interface. Here we present new models that explain both stable stratification and a long-lived dynamo by considering ongoing precipitation of magnesium oxide and/or silicon dioxide from the core. Lithophile elements may partition into iron alloys under extreme pressure and temperature during Earth's formation, especially after giant impacts. Modest core/mantle heat flow then drives compositional convection—regardless of thermal conductivity—since their solubility is strongly temperature-dependent. Our models begin with bulk abundances for the mantle and core determined by the redox conditions during accretion. We then track equilibration between the core and a primordial basal magma ocean followed by downward diffusion of light elements. Precipitation begins at a depth that is most sensitive to temperature and oxygen abundance and then creates feedbacks with the radial thermal and chemical profiles. Successful models feature a stable layer with low seismic velocity (which mandates multi-component evolution since a single light element typically

Effects of Idiosyncratic Volatility in Asset Pricing

Directory of Open Access Journals (Sweden)

André Luís Leite

2016-04-01

Full Text Available This paper aims to evaluate the effects of the aggregate market volatility components - average volatility and average correlation - on the pricing of portfolios sorted by idiosyncratic volatility, using Brazilian data. The study investigates whether portfolios with high and low idiosyncratic volatility - in relation to the Fama and French model (1996 - have different exposures to innovations in average market volatility, and consequently, different expectations for return. The results are in line with those found for US data, although they portray the Brazilian reality. Decomposition of volatility allows the average volatility component, without the disturbance generated by the average correlation component, to better price the effects of a worsening or an improvement in the investment environment. This result is also identical to that found for US data. Average variance should thus command a risk premium. For US data, this premium is negative. According to Chen and Petkova (2012, the main reason for this negative sign is the high level of investment in research and development recorded by companies with high idiosyncratic volatility. As in Brazil this type of investment is significantly lower than in the US, it was expected that a result with the opposite sign would be found, which is in fact what occurred.

American option pricing with stochastic volatility processes

Directory of Open Access Journals (Sweden)

Ping LI

2017-12-01

Full Text Available In order to solve the problem of option pricing more perfectly, the option pricing problem with Heston stochastic volatility model is considered. The optimal implementation boundary of American option and the conditions for its early execution are analyzed and discussed. In view of the fact that there is no analytical American option pricing formula, through the space discretization parameters, the stochastic partial differential equation satisfied by American options with Heston stochastic volatility is transformed into the corresponding differential equations, and then using high order compact finite difference method, numerical solutions are obtained for the option price. The numerical experiments are carried out to verify the theoretical results and simulation. The two kinds of optimal exercise boundaries under the conditions of the constant volatility and the stochastic volatility are compared, and the results show that the optimal exercise boundary also has stochastic volatility. Under the setting of parameters, the behavior and the nature of volatility are analyzed, the volatility curve is simulated, the calculation results of high order compact difference method are compared, and the numerical option solution is obtained, so that the method is verified. The research result provides reference for solving the problems of option pricing under stochastic volatility such as multiple underlying asset option pricing and barrier option pricing.

Volatiles in the Martian regolith

International Nuclear Information System (INIS)

Clark, B.C.; Baird, A.K.

1979-01-01

An inventory of released volatiles on Mars has been derived based upon Viking measurements of atmospheric and surface chemical composition, and upon the inferred mineralogy of a ubiquitous regolith, assumed to average 200m in depth. This model is consistent with the relative abundances of volatiles (except for S) on the Earth's surface, but implies one-fifteenth of the volatile release of Earth if starting materials were comparable. All constituents are accommodated as chemical components of, or absorbed phases on, regolith materials--without the necessity of invoking unobservable deposits of carbonates, nitrates, or permafrost ice

HS-SPME-GC-MS ANALYSIS OF VOLATILE AND SEMI-VOLATILE COMPOUNDS FROM DRIED LEAVES OF Mikania glomerata Sprengel

Directory of Open Access Journals (Sweden)

Esmeraldo A. Cappelaro

2015-03-01

Full Text Available This paper reports on the identification of volatile and semi-volatile compounds and a comparison of the chromatographic profiles obtained by Headspace Solid-Phase Microextraction/Gas Chromatography with Mass Spectrometry detection (HS-SPME-GC-MS of dried leaves of Mikania glomerata Sprengel (Asteraceae, also known as 'guaco.' Three different types of commercial SPME fibers were tested: polydimethylsiloxane (PDMS, polydimethylsiloxane/divinylbenzene (PDMS/DVB and polyacrylate (PA. Fifty-nine compounds were fully identified by HS-SPME-HRGC-MS, including coumarin, a marker for the quality control of guaco-based phytomedicines; most of the other identified compounds were mono- and sesquiterpenes. PA fibers performed better in the analysis of coumarin, while PDMS-DVB proved to be the best choice for a general and non-selective analysis of volatile and semi-volatile guaco-based compounds. The SPME method is faster and requires a smaller sample than conventional hydrodistillation of essential oils, providing a general overview of the volatile and semi-volatile compounds of M. glomerata.

Ammonia volatilization from sows on grassland

Science.gov (United States)

Sommer, S. G.; Søgaard, H. T.; Møller, H. B.; Morsing, S.

According to regulations, sows with piglets on organic farms must graze on pastures. Volatilization of ammonia (NH 3) from urine patches may represent a significant source of nitrogen (N) loss from these farms. Inputs of N are low on organic farms and losses may reduce crop production. This study examined spatial variations in NH 3 volatilization using a movable dynamic chamber, and the pH and total ammoniacal nitrogen (TAN) content in the topsoil of pastures with grazing sows was measured during five periods between June 1998 and May 1999. Gross NH 3 volatilization from the pastures was also measured with an atmospheric mass balance technique during seven periods from September 1997 until June 1999. The dynamic chamber study showed a high variation in NH 3 volatilization because of the distribution of urine; losses were between 0 and 2.8 g NH 3-N m -2 day -1. Volatilization was highest near the feeding area and the huts, where the sows tended to urinate. Ammonia volatilization rate was linearly related to the product of NH 3 concentration in the boundary layer and wind speed. The NH 3 in the boundary layer was in equilibrium with NH 3 in soil solution. Gross NH 3 volatilization was in the range 0.07-2.1 kg NH 3-N ha -1 day -1 from a pasture with 24 sows ha -1. Ammonia volatilization was related to the amount of feed given to the sows, incident solar radiation and air temperature during measuring periods, and also to temperature, incident solar radiation and rain 1-2 days before measurements. Annual ammonia loss was 4.8 kg NH 3-N sow -1.

ZnO as dielectric for optically transparent non-volatile memory

International Nuclear Information System (INIS)

Salim, N. Tjitra; Aw, K.C.; Gao, W.; Wright, Bryon E.

2009-01-01

This paper discusses the application of a DC sputtered ZnO thin film as a dielectric in an optically transparent non-volatile memory. The main motivation for using ZnO as a dielectric is due to its optical transparency and mechanical flexibility. We have established the relationship between the electrical resistivity (ρ) and the activation energy (E a ) of the electron transport in the conduction band of the ZnO film. The ρ of 2 x 10 4 -5 x 10 7 Ω-cm corresponds to E a of 0.36-0.76 eV, respectively. The k-value and optical band-gap for films sputtered with Ar:O 2 ratio of 4:1 are 53 ± 3.6 and 3.23 eV, respectively. In this paper, the basic charge storage element for a non-volatile memory is a triple layer dielectric structure in which a 50 nm thick ZnO film is sandwiched between two layers of methyl silsesquioxane sol-gel dielectric of varying thickness. A pronounced clockwise capacitance-voltage (C-V) hysteresis was observed with a memory window of 6 V. The integration with a solution-processable pentacene, 13,6-N-Sulfinylacetamodipentacene resulted in an optically transparent organic field effect transistor non-volatile memory (OFET-NVM). We have demonstrated that this OFET-NVM can be electrically programmed and erased at low voltage (± 10 V) with a threshold voltage shift of 4.0 V.

Herbivore-induced blueberry volatiles and intra-plant signaling.

Science.gov (United States)

Rodriguez-Saona, Cesar R

2011-12-18

Herbivore-induced plant volatiles (HIPVs) are commonly emitted from plants after herbivore attack. These HIPVs are mainly regulated by the defensive plant hormone jasmonic acid (JA) and its volatile derivative methyl jasmonate (MeJA). Over the past 3 decades researchers have documented that HIPVs can repel or attract herbivores, attract the natural enemies of herbivores, and in some cases they can induce or prime plant defenses prior to herbivore attack. In a recent paper, I reported that feeding by gypsy moth caterpillars, exogenous MeJA application, and mechanical damage induce the emissions of volatiles from blueberry plants, albeit differently. In addition, blueberry branches respond to HIPVs emitted from neighboring branches of the same plant by increasing the levels of JA and resistance to herbivores (i.e., direct plant defenses), and by priming volatile emissions (i.e., indirect plant defenses). Similar findings have been reported recently for sagebrush, poplar, and lima beans. Here, I describe a push-pull method for collecting blueberry volatiles induced by herbivore (gypsy moth) feeding, exogenous MeJA application, and mechanical damage. The volatile collection unit consists of a 4 L volatile collection chamber, a 2-piece guillotine, an air delivery system that purifies incoming air, and a vacuum system connected to a trap filled with Super-Q adsorbent to collect volatiles. Volatiles collected in Super-Q traps are eluted with dichloromethane and then separated and quantified using Gas Chromatography (GC). This volatile collection method was used in my study to investigate the volatile response of undamaged branches to exposure to volatiles from herbivore-damaged branches within blueberry plants. These methods are described here. Briefly, undamaged blueberry branches are exposed to HIPVs from neighboring branches within the same plant. Using the same techniques described above, volatiles emitted from branches after exposure to HIPVs are collected and

Endogenous Lunar Volatiles: Insights into the Abundances of Volatiles in the Moon from Lunar Apatite

Science.gov (United States)

McCubbin, Francis

2016-01-01

At the time of publication of New Views of the Moon, it was thought that the Moon was bone dry with less than about 1 ppb H2O. However in 2007, initial reports at the 38th Lunar and Planetary Science Conference speculated that H-species were present in both apatites and pyroclastic volcanic lunar glasses. These early reports were later confirmed through peer-review, which motivated many subsequent studies on magmatic volatiles in and on the Moon within the last decade. Some of these studies have cast into question the post-Apollo view of lunar formation, the distribution and sources of volatiles in the Earth-Moon system, and the thermal and magmatic evolution of the Moon. The mineral apatite has been one of the pillars of this new field of study, and it will be the primary focus of this abstract. Although apatite has been used both to understand the abundances of volatiles in lunar systems as well as the isotopic compositions of those volatiles, the focus here will be on the abundances of F, Cl, and H2O. This work demonstrates the utility of apatite in advancing our understanding of lunar volatiles, hence apatite should be among the topics covered in the endogenous lunar volatile chapter in NVM II. Truncated ternary plot of apatite X-site occupancy (mol%) from highlands apatite and mare basalt apatite plotted on the relative volatile abundance diagram from. The solid black lines delineate fields of relative abundances of F, Cl, and H2O (on a weight basis) in the melt from which the apatite crystallized. The diagram was constructed using available apatite/melt partitioning data for fluorine, chlorine, and hydroxyl.

Electricity market price volatility: The case of Ontario

International Nuclear Information System (INIS)

Zareipour, Hamidreza; Bhattacharya, Kankar; Canizares, Claudio A.

2007-01-01

Price volatility analysis has been reported in the literature for most competitive electricity markets around the world. However, no studies have been published yet that quantify price volatility in the Ontario electricity market, which is the focus of the present paper. In this paper, a comparative volatility analysis is conducted for the Ontario market and its neighboring electricity markets. Volatility indices are developed based on historical volatility and price velocity concepts, previously applied to other electricity market prices, and employed in the present work. The analysis is carried out in two scenarios: in the first scenario, the volatility indices are determined for the entire price time series. In the second scenario, the price time series are broken up into 24 time series for each of the 24 h and volatility indices are calculated for each specific hour separately. The volatility indices are also applied to the locational marginal prices of several pricing points in the New England, New York, and PJM electricity markets. The outcomes reveal that price volatility is significantly higher in Ontario than the three studied neighboring electricity markets. Furthermore, comparison of the results of this study with similar findings previously published for 15 other electricity markets demonstrates that the Ontario electricity market is one of the most volatile electricity markets world-wide. This high volatility is argued to be associated with the fact that Ontario is a single-settlement, real-time market

Asymptotic Behavior of the Stock Price Distribution Density and Implied Volatility in Stochastic Volatility Models

International Nuclear Information System (INIS)

Gulisashvili, Archil; Stein, Elias M.

2010-01-01

We study the asymptotic behavior of distribution densities arising in stock price models with stochastic volatility. The main objects of our interest in the present paper are the density of time averages of the squared volatility process and the density of the stock price process in the Stein-Stein and the Heston model. We find explicit formulas for leading terms in asymptotic expansions of these densities and give error estimates. As an application of our results, sharp asymptotic formulas for the implied volatility in the Stein-Stein and the Heston model are obtained.

Dynamic Asset Allocation Strategies Based on Volatility, Unexpected Volatility and Financial Turbulence

OpenAIRE

Grimsrud, David Borkner

2015-01-01

Masteroppgave økonomi og administrasjon- Universitetet i Agder, 2015 This master thesis looks at unexpected volatility- and financial turbulence’s predictive ability, and exploit these measures of financial risk, together with volatility, to create three dynamic asset allocation strategies, and test if they can outperform a passive and naively diversified buy-and-hold strategy. The idea with the dynamic strategies is to increase the portfolio return by keeping the portfolio risk at a low a...

A nonparametric approach to forecasting realized volatility

OpenAIRE

Adam Clements; Ralf Becker

2009-01-01

A well developed literature exists in relation to modeling and forecasting asset return volatility. Much of this relate to the development of time series models of volatility. This paper proposes an alternative method for forecasting volatility that does not involve such a model. Under this approach a forecast is a weighted average of historical volatility. The greatest weight is given to periods that exhibit the most similar market conditions to the time at which the forecast is being formed...

Realized Beta GARCH: A Multivariate GARCH Model with Realized Measures of Volatility and CoVolatility

DEFF Research Database (Denmark)

Hansen, Peter Reinhard; Lunde, Asger; Voev, Valeri

We introduce a multivariate GARCH model that utilizes and models realized measures of volatility and covolatility. The realized measures extract information contained in high-frequency data that is particularly beneficial during periods with variation in volatility and covolatility. Applying the ...

An empirical analysis of freight rate and vessel price volatility transmission in global dry bulk shipping market

Directory of Open Access Journals (Sweden)

Lei Dai

2015-10-01

Full Text Available Global dry bulk shipping market is an important element of global economy and trade. Since newbuilding and secondhand vessels are often traded as assets and the freight rate is the key determinant of vessel price, it is important for shipping market participants to understand the market dynamics and price transmission mechanism over time to make suitable strategic decisions. To address this issue, a multi-variate GARCH model was applied in this paper to explore the volatility spillover effects across the vessel markets (including newbuilding and secondhand vessel markets and freight market. Specifically, the BEKK parameterization of the multi-variate GARCH model (BEKK GARCH was proposed to capture the volatility transmission effect from the freight market, newbuilding and secondhand vessel markets in the global dry bulk shipping industry. Empirical results reveal that significant volatility transmission effects exist in each market sector, i.e. capesize, panamax, handymax and handysize. Besides, the market volatility transmission mechanism varies among different vessel types. Moreover, some bilateral effects are found in the dry bulk shipping market, showing that lagged variances could affect the current variance in a counterpart market, regardless of the volatility transmission. A simple ratio is proposed to guide investors optimizing their portfolio allocations. The findings in this paper could provide unique insights for investors to understand the market and hedge their portfolios well.

Flower volatiles, crop varieties and bee responses.

Directory of Open Access Journals (Sweden)

Björn K Klatt

Full Text Available Pollination contributes to an estimated one third of global food production, through both the improvement of the yield and the quality of crops. Volatile compounds emitted by crop flowers mediate plant-pollinator interactions, but differences between crop varieties are still little explored. We investigated whether the visitation of crop flowers is determined by variety-specific flower volatiles using strawberry varieties (Fragaria x ananassa Duchesne and how this affects the pollination services of the wild bee Osmia bicornis L. Flower volatile compounds of three strawberry varieties were measured via headspace collection. Gas chromatography showed that the three strawberry varieties produced the same volatile compounds but with quantitative differences of the total amount of volatiles and between distinct compounds. Electroantennographic recordings showed that inexperienced females of Osmia bicornis had higher antennal responses to all volatile compounds than to controls of air and paraffin oil, however responses differed between compounds. The variety Sonata was found to emit a total higher level of volatiles and also higher levels of most of the compounds that evoked antennal responses compared with the other varieties Honeoye and Darselect. Sonata also received more flower visits from Osmia bicornis females under field conditions, compared with Honeoye. Our results suggest that differences in the emission of flower volatile compounds among strawberry varieties mediate their attractiveness to females of Osmia bicornis. Since quality and quantity of marketable fruits depend on optimal pollination, a better understanding of the role of flower volatiles in crop production is required and should be considered more closely in crop-variety breeding.

The multivariate supOU stochastic volatility model

DEFF Research Database (Denmark)

Barndorff-Nielsen, Ole; Stelzer, Robert

Using positive semidefinite supOU (superposition of Ornstein-Uhlenbeck type) processes to describe the volatility, we introduce a multivariate stochastic volatility model for financial data which is capable of modelling long range dependence effects. The finiteness of moments and the second order...... structure of the volatility, the log returns, as well as their "squares" are discussed in detail. Moreover, we give several examples in which long memory effects occur and study how the model as well as the simple Ornstein-Uhlenbeck type stochastic volatility model behave under linear transformations....... In particular, the models are shown to be preserved under invertible linear transformations. Finally, we discuss how (sup)OU stochastic volatility models can be combined with a factor modelling approach....

Forecasting Exchange Rate Volatility in the Presence of Jumps

DEFF Research Database (Denmark)

Busch, Thomas; Christensen, Bent Jesper; Nielsen, Morten Ørregaard

We study measures of foreign exchange rate volatility based on high-frequency (5-minute) $/DM exchange rate returns using recent nonparametric statistical techniquesto compute realized return volatility and its separate continuous sample path and jumpcomponents, and measures based on prices...... of exchange rate futures options, allowingcalculation of option implied volatility. We find that implied volatility is an informationallyefficient but biased forecast of future realized exchange rate volatility. Furthermore,we show that log-normality is an even better distributional approximation...... for impliedvolatility than for realized volatility in this market. Finally, we show that the jump componentof future realized exchange rate volatility is to some extent predictable, and thatoption implied volatility is the dominant forecast of the future jump component....

Dynamic Factor Models for the Volatility Surface

DEFF Research Database (Denmark)

van der Wel, Michel; Ozturk, Sait R.; Dijk, Dick van

The implied volatility surface is the collection of volatilities implied by option contracts for different strike prices and time-to-maturity. We study factor models to capture the dynamics of this three-dimensional implied volatility surface. Three model types are considered to examine desirable...

Fundamental volatility is regime specific

NARCIS (Netherlands)

Arnold, I.J.M.; MacDonald, R.; Vries, de C.G.

2006-01-01

A widely held notion holds that freely floating exchange rates are excessively volatile when judged against fundamentals and when moving from fixed to floating exchange rates. We re-examine the data and conclude that the disparity between the fundamentals and exchange rate volatility is more

Consistent ranking of volatility models

DEFF Research Database (Denmark)

Hansen, Peter Reinhard; Lunde, Asger

2006-01-01

We show that the empirical ranking of volatility models can be inconsistent for the true ranking if the evaluation is based on a proxy for the population measure of volatility. For example, the substitution of a squared return for the conditional variance in the evaluation of ARCH-type models can...... variance in out-of-sample evaluations rather than the squared return. We derive the theoretical results in a general framework that is not specific to the comparison of volatility models. Similar problems can arise in comparisons of forecasting models whenever the predicted variable is a latent variable....

Sulfur volatiles from Allium spp. affect Asian citrus psyllid, Diaphorina citri Kuwayama (Hemiptera: Psyllidae), response to citrus volatiles.

Science.gov (United States)

Mann, R S; Rouseff, R L; Smoot, J M; Castle, W S; Stelinski, L L

2011-02-01

The Asian citrus psyllid, Diaphorina citri Kuwayama, vectors Candidatus Liberibacter asiaticus (Las) and Candidatus Liberibacter americanus (Lam), the presumed causal agents of huanglongbing. D. citri generally rely on olfaction and vision for detection of host cues. Plant volatiles from Allium spp. (Alliaceae) are known to repel several arthropod species. We examined the effect of garlic chive (A. tuberosum Rottl.) and wild onion (A. canadense L.) volatiles on D. citri behaviour in a two-port divided T-olfactometer. Citrus leaf volatiles attracted significantly more D. citri adults than clean air. Volatiles from crushed garlic chive leaves, garlic chive essential oil, garlic chive plants, wild onion plants and crushed wild onion leaves all repelled D. citri adults when compared with clean air, with the first two being significantly more repellent than the others. However, when tested with citrus volatiles, only crushed garlic chive leaves and garlic chive essential oil were repellent, and crushed wild onions leaves were not. Analysis of the headspace components of crushed garlic chive leaves and garlic chive essential oil by gas chromatography-mass spectrometry revealed that monosulfides, disulfides and trisulfides were the primary sulfur volatiles present. In general, trisulfides (dimethyl trisulfide) inhibited the response of D. citri to citrus volatiles more than disulfides (dimethyl disulfide, allyl methyl disulfide, allyl disulfide). Monosulfides did not affect the behaviour of D. citri adults. A blend of dimethyl trisulfide and dimethyl disulfide in 1:1 ratio showed an additive effect on inhibition of D. citri response to citrus volatiles. The plant volatiles from Allium spp. did not affect the behaviour of the D. citri ecto-parasitoid Tamarixia radiata (Waterston). Thus, Allium spp. or the tri- and di-sulphides could be integrated into management programmes for D. citri without affecting natural enemies.

Aerosol volatility in a boreal forest environment

Science.gov (United States)

Häkkinen, S. A. K.; ńijälä, M.; Lehtipalo, K.; Junninen, H.; Virkkula, A.; Worsnop, D. R.; Kulmala, M.; Petäjä, T.; Riipinen, I.

2012-04-01

Climate and health effects of atmospheric aerosols are determined by their properties such as their chemical composition. Aerosol chemical composition can be studied indirectly by measuring volatility of aerosol particles. The volatility of submicron aerosol particles (20-500 nm) was studied in a boreal forest site at SMEAR II (Station for Measuring Ecosystem-Atmosphere Relations II) station (Vesala et al., 1998) in Hyytiälä, Finland, during 01/2008-05/2010. The instrument used for the measurements was VDMPS (Volatility Differential Mobility Particle Sizer), which consists of two separate instruments: DMPS (Differential Mobility Particle Sizer, Aalto et al., 2001) and TD (Thermodenuder, Wehner et al., 2002). Aerosol evaporation was examined by heating the aerosol and comparing the total aerosol mass before and after heating. In the VDMPS system ambient aerosol sample was heated up to temperatures ranging from 80 °C to 280 °C. The higher the heating temperature was the more aerosol material was evaporated. There was a non-volatile residual present in aerosol particles when heated up to 280 °C. This residual explained (20±8)% of the total aerosol mass. Aerosol non-volatile mass fraction was highest during winter and smallest during summer months. The role of black carbon in the observed non-volatile residual was determined. Black carbon explained 40 to 90% of the non-volatile mass. Especially during colder seasons noticeable amount of non-volatile material, something else than black carbon, was observed. According to Kalberer et al. (2004) some atmospheric organic species can form polymers that have high evaporation temperatures. Also low-volatile organic salts may contribute to the non-volatile aerosol (Smith et al., 2010). Aerosol mass composition measured directly with AMS (Aerosol Mass Spectrometer, Jayne et al., 2000) was analyzed in order to examine the properties of the non-volatile material (other than black carbon). The AMS measurements were performed

Analysis of volatiles from irradiated yeast extract

International Nuclear Information System (INIS)

Liao Tao; Li Xin; Zu Xiaoyan; Chen Yuxia; Geng Shengrong

2013-01-01

The method for determination volatiles from irradiated yeast extract (YE) using headspace solid phase microextraction (HS-SPME) and gas chromatography-mass spectrometry (GC-MS) was developed in this paper. The extraction conditions were optimized with reference to the peak area and number of volatiles as aldehyde, ketone, alcohol, acid, ester and sulfur compounds. The optimized conditions of HS-SPME for volatiles in irradiated YE were: divinyl benzene/Carboxen/polydimethylsiloxane (DVB/CAR/PDMS) fiber, extration time 40 min, extraction temperature 40℃. The volatiles from YE irradiated by 0-19.8 kGy were detected using HS-SPME coupled with GC-MS. The results showed that only 15 volatiles were detected from no irradiated YE and main compounds were acetic acid, 2, 3-butanediol and 1-hexanol, 2-ethyl-. There were 40 volatiles detected from irradiated YE and the main compounds were acetic acid, phenylethyl alcohol, heptanal and nonanal. Compare to no irradiated yeast extract, the aldehyde, ketone, alkene and disulfide, dimethyl were produced by irradiating process. (authors)

A dynamic two-dimensional system for measuring volatile organic compound volatilization and movement in soils.

Science.gov (United States)

Allaire, S E; Yates, S R; Ernst, F F; Gan, J

2002-01-01

There is an important need to develop instrumentation that allows better understanding of atmospheric emission of toxic volatile compounds associated with soil management. For this purpose, chemical movement and distribution in the soil profile should be simultaneously monitored with its volatilization. A two-dimensional rectangular soil column was constructed and a dynamic sequential volatilization flux chamber was attached to the top of the column. The flux chamber was connected through a manifold valve to a gas chromatograph (GC) for real-time concentration measurement. Gas distribution in the soil profile was sampled with gas-tight syringes at selected times and analyzed with a GC. A pressure transducer was connected to a scanivalve to automatically measure the pressure distribution in the gas phase of the soil profile. The system application was demonstrated by packing the column with a sandy loam in a symmetrical bed-furrow system. A 5-h furrow irrigation was started 24 h after the injection of a soil fumigant, propargyl bromide (3-bromo-1-propyne; 3BP). The experience showed the importance of measuring lateral volatilization variability, pressure distribution in the gas phase, chemical distribution between the different phases (liquid, gas, and sorbed), and the effect of irrigation on the volatilization. Gas movement, volatilization, water infiltration, and distribution of degradation product (Br-) were symmetric around the bed within 10%. The system saves labor cost and time. This versatile system can be modified and used to compare management practices, estimate concentration-time indexes for pest control, study chemical movement, degradation, and emissions, and test mathematical models.

Political institutions and economic volatility

NARCIS (Netherlands)

Klomp, Jeroen; de Haan, Jakob

We examine the effect of political 'institutions' on economic growth volatility, using data from more than 100 countries over the period 1960 to 2005, taking into account various control variables as suggested in previous studies. Our indicator of volatility is the relative standard deviation of the

The predictive content of CBOE crude oil volatility index

Science.gov (United States)

Chen, Hongtao; Liu, Li; Li, Xiaolei

2018-02-01

Volatility forecasting is an important issue in the area of econophysics. The information content of implied volatility for financial return volatility has been well documented in the literature but very few studies focus on oil volatility. In this paper, we show that the CBOE crude oil volatility index (OVX) has predictive ability for spot volatility of WTI and Brent oil returns, from both in-sample and out-of-sample perspectives. Including OVX-based implied volatility in GARCH-type volatility models can improve forecasting accuracy most of time. The predictability from OVX to spot volatility is also found for longer forecasting horizons of 5 days and 20 days. The simple GARCH(1,1) and fractionally integrated GARCH with OVX performs significantly better than the other OVX models and all 6 univariate GARCH-type models without OVX. Robustness test results suggest that OVX provides different information from as short-term interest rate.

Oil Volatility Risk and Expected Stock Returns

DEFF Research Database (Denmark)

Christoffersen, Peter; Pan, Xuhui (Nick)

return between the quintile of stocks with low exposure and high exposure to oil volatility is significant at 0.66% per month, and oil volatility risk carries a significant risk premium of -0.60% per month. In the post-financialization period, oil volatility risk is strongly related with various measures...

Understanding Interest Rate Volatility

DEFF Research Database (Denmark)

Volker, Desi

This thesis is the result of my Ph.D. studies at the Department of Finance of the Copenhagen Business School. It consists of three essays covering topics related to the term structure of interest rates, monetary policy and interest rate volatility. The rst essay, \\Monetary Policy Uncertainty...... and Interest Rates", examines the role of monetary policy uncertainty on the term structure of interest rates. The second essay, \\A Regime-Switching A ne Term Structure Model with Stochastic Volatility" (co-authored with Sebastian Fux), investigates the ability of the class of regime switching models...... with and without stochastic volatility to capture the main stylized features of U.S. interest rates. The third essay, \\Variance Risk Premia in the Interest Rate Swap Market", investigates the time-series and cross-sectional properties of the compensation demanded for holding interest rate variance risk. The essays...

The effect of melt composition on the partitioning of trace elements between titanite and silicate melt

Science.gov (United States)

Prowatke, S.; Klemme, S.

2003-04-01

The aim of this study is to systematically investigate the influence of melt composition on the partitioning of trace elements between titanite and different silicate melts. Titanite was chosen because of its important role as an accessory mineral, particularly with regard to intermediate to silicic alkaline and calc-alkaline magmas [e.g. 1] and of its relative constant mineral composition over a wide range of bulk compositions. Experiments at atmospheric pressure were performed at temperatures between 1150°C and 1050°C. Bulk compositions were chosen to represent a basaltic andesite (SH3 - 53% SiO2), a dacite (SH2 - 65 SiO2) and a rhyolite (SH1 - 71% SiO2). Furthermore, two additional experimental series were conducted to investigate the effect of Al-Na and the Na-K ratio of melts on partitioning. Starting materials consisted of glasses that were doped with 23 trace elements including some selected rare earth elements (La, Ce, Pr, Sm, Gd, Lu), high field strength elements (Zr, Hf, Nb, Ta) and large ion lithophile elements (Cs, Rb, Ba) and Th and U. The experimental run products were analysed for trace elements using secondary ion mass spectrometry at Heidelberg University. Preliminary results indicate a strong effect of melt composition on trace element partition coefficients. Partition coefficients for rare-earth elements uniformly show a convex-upward shape [2, 3], since titanite accommodates the middle rare-earth elements more readily than the light rare-earth elements or the heavy rare-earth elements. Partition coefficients for the rare-earth elements follow a parabolic trend when plotted against ionic radius. The shape of the parabola is very similar for all studied bulk compositions, the position of the parabola, however, is strongly dependent on bulk composition. For example, isothermal rare-earth element partition coefficients (such as La) are incompatible (D>1) in alkali-poor melt compositions. From our experimental data we present an model that combines

Equity Volatility and Corporate Bond Yields

OpenAIRE

John Y. Campbell; Glen B. Taksler

2002-01-01

This paper explores the effect of equity volatility on corporate bond yields. Panel data for the late 1990s show that idiosyncratic firm-level volatility can explain as much cross-sectional variation in yields as can credit ratings. This finding, together with the upward trend in idiosyncratic equity volatility documented by Campbell, Lettau, Malkiel, and Xu (2001), helps to explain recent increases in corporate bond yields. The definitive version is available at www.blackwell-synergy.com.

Permanent and transitory oil volatility and aggregate investment in Malaysia

International Nuclear Information System (INIS)

Ibrahim, Mansor H.; Ahmed, Huson Joher Ali

2014-01-01

This paper investigates the relation between aggregate investment and oil volatility and its permanent and transitory components for a developing country, Malaysia. In the paper, the components generalized autoregressive conditional heteroskedasticity (CGARCH) model is utilized to decompose conditional oil volatility into permanent oil volatility and transitory oil volatility. Respectively reflecting fundamental-driven and random shifts in oil volatility, they are expected to exert differential effects on aggregate investment. Adopting a vector autoregression (VAR) framework to allow feedback effects between aggregate investment and its determinants, the paper documents evidence supporting the adverse effects of conditional oil volatility, permanent oil volatility and transitory oil volatility on aggregate investment and real output. Interestingly, contrary to the findings for the developed markets (US and OECD), the real effects of permanent oil volatility tend to be stronger. These findings are reasonably robust to variable specification and measurements in the VAR system. Hence, there is an indication that heightened oil volatility accounts for the slumps in Malaysia's aggregate investment after the Asian financial crisis. - Highlights: • Examines the role of oil volatility in Malaysia's aggregate investment. • Makes distinction between permanent and temporary volatility using CGARCH. • Both volatility components depress investment. • Permanent volatility has larger adverse effects. • Results are robust to alternative model specifications

Firm-level volatility and exports

NARCIS (Netherlands)

Vannoorenberghe, G.C.L.

2012-01-01

This paper shows that the share of exports in the total sales of a firm has a positive and substantial impact on the volatility of its sales. Decomposing the volatility of sales of exporters between their domestic and export markets, I show using an identification strategy based on a firm-specific

Modeling and forecasting petroleum futures volatility

International Nuclear Information System (INIS)

Sadorsky, Perry

2006-01-01

Forecasts of oil price volatility are important inputs into macroeconometric models, financial market risk assessment calculations like value at risk, and option pricing formulas for futures contracts. This paper uses several different univariate and multivariate statistical models to estimate forecasts of daily volatility in petroleum futures price returns. The out-of-sample forecasts are evaluated using forecast accuracy tests and market timing tests. The TGARCH model fits well for heating oil and natural gas volatility and the GARCH model fits well for crude oil and unleaded gasoline volatility. Simple moving average models seem to fit well in some cases provided the correct order is chosen. Despite the increased complexity, models like state space, vector autoregression and bivariate GARCH do not perform as well as the single equation GARCH model. Most models out perform a random walk and there is evidence of market timing. Parametric and non-parametric value at risk measures are calculated and compared. Non-parametric models outperform the parametric models in terms of number of exceedences in backtests. These results are useful for anyone needing forecasts of petroleum futures volatility. (author)

Drug interactions: volatile anesthetics and opioids.

Science.gov (United States)

Glass, P S; Gan, T J; Howell, S; Ginsberg, B

1997-09-01

Multiple drugs are used to provide anesthesia. Volatile anesthetics are commonly combined with opioids. Several studies have demonstrated that small doses of opioid (i.e., within the analgesic range) result in a marked reduction in minimum alveolar concentration (MAC) of the volatile anesthetic that will prevent purposeful movement in 50% of patients at skin incision). Further increases in opioid dose provide only a further small reduction in MAC. Thus, a ceiling effect of the opioid is observed at a MAC value of the volatile anesthetic equal to its MAC awake. Recovery from anesthesia when an opioid is combined with a volatile anesthetic is dependent on the rate of decrease of both drugs to their respective concentrations that are associated with adequate spontaneous ventilation and awakening. Through an understanding of the pharmacodynamic interaction of volatile anesthetics with opioids and the pharmacokinetic processes responsible for the recovery from drug effect, optimal dosing schemes can thus be developed. A review of these pharmacodynamic and pharmacokinetic principles that will allow clinicians to administer drugs to provide a more optimal anesthetic is provided.

Inflation, its Volatility and the Inflation-Growth Tradeoff in India

OpenAIRE

Raghbendra Jha; Varsha S. Kulkarni

2013-01-01

This paper amends the New Keynesian Phillips curve model to include inflation volatility. It provides results on the determinants of inflation volatility and expected inflation volatility for OLS and ARDL(1,1) models and for change in inflation volatility and change in expected inflation volatility using ECM models. Output gap affects change in expected inflation volatility alone (in the ECM model) and not in the other models. Major determinants of inflation volatility and expected inflation ...

Volatile organic compounds and trace metal level in some beers collected from Romanian market

Science.gov (United States)

Voica, Cezara; Kovacs, Melinda; Vadan, Marius

2013-11-01

Beer is one of the most popular beverages at worldwide level. Through this study fifteen different types of beer collected from Romanian market were analysed in order to evaluate their mineral, trace element as well the their organic content. Importance of such characterization of beer samples is supported by the fact that their chemical composition can affect both taste and stability of beer, as well the consumer health. Minerals and trace elements analysis were performed on ICP-MS while organic compounds analysis was done through GC-MS. Through ICP-MS analysis, elements as Ca, Na, K and Mg were evidenced at mgṡkg-1 order while elements as Cr, Ba, Co, Ni were detected at lower level. After GC-MS analysis the major volatile compounds that were detected belong to alcohols namely ethanol, propanol, isobutanol, isoamyl alcohol and linalool. Selected fatty acids and esters were evidenced also in the studied beer samples.

Estimation of volatility of selected oil production projects

International Nuclear Information System (INIS)

Costa Lima, Gabriel A.; Suslick, Saul B.

2006-01-01

In oil project valuation and investment decision-making, volatility is a key parameter, but it is difficult to estimate. From a traditional investment viewpoint, volatility reduces project value because it increases its discount rate via a higher risk premium. Contrarily, according to the real-option pricing theory, volatility may aggregate value to the project, since the downside potential is limited whereas the upside is theoretically unbounded. However, the estimation of project volatility is very complicated since there is not a historical series of project values. In such cases, many analysts assume that oil price volatility is equal to that of project. In order to overcome such problems, in this paper an alternative numerical method based on present value of future cash flows and Monte Carlo simulation is proposed to estimate the volatility of projects. This method is applied to estimate the volatility of 12 deep-water offshore oil projects considering that oil price will evolve according to one of two stochastic processes: Geometric Brownian Motion and Mean-Reverting Motion. Results indicate that the volatility of commodity usually undervalue that of project. For the set of offshore projects analyzed in this paper, project volatility is at least 79% higher than that of oil prices and increases dramatically in those cases of high capital expenditures and low price. (author)

Production Function of Outgassed Volatiles on Mercury: Implications for Polar Volatiles on Mercury and the Moon

Science.gov (United States)

Deutsch, A. N.; Head, J. W.

2018-05-01

We are interested in the flux of volatiles delivered to the polar regions of Mercury and the Moon through time. We integrate the production functions for volatile delivery from impacts, solar wind, and volcanism, which we focus on initially.

Volatile and non-volatile compounds in green tea affected in harvesting time and their correlation to consumer preference.

Science.gov (United States)

Kim, Youngmok; Lee, Kwang-Geun; Kim, Mina K

2016-10-01

Current study was designed to find out how tea harvesting time affects the volatile and non-volatile compounds profiles of green tea. In addition, correlation of instrumental volatile and non-volatile compounds analyses to consumer perception were analyzed. Overall, earlier harvested green tea had stronger antioxidant capacity (~61.0%) due to the polyphenolic compounds from catechin (23,164 mg/L), in comparison to later harvested green teas (11,961 mg/L). However, high catechin content in green tea influenced negatively the consumer likings of green tea, due to high bitterness (27.6%) and astringency (13.4%). Volatile compounds drive consumer liking of green tea products were also identified, that included linalool, 2,3-methyl butanal, 2-heptanone, (E,E)-3,5-Octadien-2-one. Finding from current study are useful for green tea industry as it provide the difference in physiochemical properties of green tea harvested at different intervals.

On the non-causal link between volatility and growth

DEFF Research Database (Denmark)

Posch, Olaf; Wälde, Klaus

A model highlighting the endogeneity of both volatility and growth is presented. Volatility and growth are therefore correlated but there is no causal link from volatility to growth. This joint endogeneity is illustrated by working out the effects through which economies with different tax levels...... di er both in their volatility and growth. Using a continuous-time DSGE model with plausible parametric restrictions, we obtain closedform measures of macro volatility based on cyclical components and output growth rates. Given our results, empirical volatility-growth analysis should include controls...

Constraining the volatile budget of the lunar interior

Science.gov (United States)

Potts, N. J.; Bromiley, G. D.

2017-12-01

Measurements of volatiles (F, Cl, S, H2O) in a range of lunar samples confirm the presence of volatile material in lunar magmas. It remains unknown, however, where this volatile material is stored and when it was delivered to the Moon. On Earth, point defects within mantle olivine, and its high-pressure polymorphs, are thought to be the largest reservoir of volatile material. However, as volatiles have been cycled into and out of the Earth's mantle throughout geological time, via subduction and volcanism, this masks any original volatile signatures. As the Moon has no plate tectonics, it is expected that any volatile material present in the deep lunar interior would have been inherited during accretion and differentiation, providing insight into the delivery of volatiles to the early Earth-Moon system. Our aim was, therefore, to test the volatile storage capacity of the deep lunar mantle and determine mineral/melt partitioning for key volatiles. Experiments were performed in a primitive lunar mantle composition and run at relevant T, P, and at fO2 below the IW buffer. Experiments replicated the initial stages of LMO solidification with either olivine + melt, olivine + pyroxene + melt, or pyroxene + melt as the only phases present. Mineral-melt partition coefficients (Dx) derived for volatile material (F, Cl, S, H2O) vary significantly compared to those derived for terrestrial conditions. An order of magnitude more H2O was found to partition into lunar olivine compared to the terrestrial upper mantle. DF derived for lunar olivine are comparable to the highest terrestrial derived values whilst no Cl was found to partition into lunar olivine under these conditions. Furthermore, an inverse trend between DF and DOH hints towards coupled-substitution mechanisms between H and F under low-fO2/lunar bulk composition. These results suggest that if volatile material was present in the LMO a significant proportion could be partitioned into the lower lunar mantle. The

Labour Demand and Exchange Rate Volatility

OpenAIRE

Udo Broll; Sabine Hansen

2004-01-01

The purpose of this paper is to assess under what conditions exchange rate volatility exerts a positive effect on a firm's labour demand. As the exchange rate volatility increases, so does the value of the export option provided the firm under study is flexible. Flexibility is important because it gives the firm option value. Higher volatility increases the potential gains from trade and may increase the demand for labour. This may explain part of the mixed empirical findings regarding the ef...

Volatile organic compounds in the unsaturated zone from radioactive wastes

Science.gov (United States)

Baker, Ronald J.; Andraski, Brian J.; Stonestrom, David A.; Luo, Wentai

2012-01-01

Volatile organic compounds (VOCs) are often comingled with low-level radioactive wastes (LLRW), but little is known about subsurface VOC emanations from LLRW landfills. The current study systematically quantified VOCs associated with LLRW over an 11-yr period at the USGS Amargosa Desert Research Site (ADRS) in southwestern Nevada. Unsaturated-zone gas samples of VOCs were collected by adsorption on resin cartridges and analyzed by thermal desorption and GC/MS. Sixty of 87 VOC method analytes were detected in the 110-m-thick unsaturated zone surrounding a LLRW disposal facility. Chlorofluorocarbons (CFCs) were detected in 100% of samples collected. Chlorofluorocarbons are powerful greenhouse gases, deplete stratospheric ozone, and are likely released from LLRW facilities worldwide. Soil-gas samples collected from a depth of 24 m and a horizontal distance 100 m south of the nearest waste-disposal trench contained >60,000 ppbv total VOCs, including >37,000 ppbv CFCs. Extensive sampling in the shallow unsaturated zone (0–2 m deep) identified areas where total VOC concentrations exceeded 5000 ppbv at the 1.5-m depth. Volatile organic compound concentrations exceeded background levels up to 300 m from the facility. Maximum vertical diffusive fluxes of total VOCs were estimated to be 1 g m-2 yr-1. Volatile organic compound distributions were similar but not identical to those previously determined for tritium and elemental mercury. To our knowledge, this study is the first to characterize the unsaturated zone distribution of VOCs emanating from a LLRW landfill. Our results may help explain anomalous transport of radionuclides at the ADRS and elsewhere.

Estimation and prediction under local volatility jump-diffusion model

Science.gov (United States)

Kim, Namhyoung; Lee, Younhee

2018-02-01

Volatility is an important factor in operating a company and managing risk. In the portfolio optimization and risk hedging using the option, the value of the option is evaluated using the volatility model. Various attempts have been made to predict option value. Recent studies have shown that stochastic volatility models and jump-diffusion models reflect stock price movements accurately. However, these models have practical limitations. Combining them with the local volatility model, which is widely used among practitioners, may lead to better performance. In this study, we propose a more effective and efficient method of estimating option prices by combining the local volatility model with the jump-diffusion model and apply it using both artificial and actual market data to evaluate its performance. The calibration process for estimating the jump parameters and local volatility surfaces is divided into three stages. We apply the local volatility model, stochastic volatility model, and local volatility jump-diffusion model estimated by the proposed method to KOSPI 200 index option pricing. The proposed method displays good estimation and prediction performance.

Aspects of volatility targeting for South African equity investors

Directory of Open Access Journals (Sweden)

Bhekinkosi Khuzwayo

2014-11-01

Full Text Available We consider so-called volatility targeting strategies in the South African equity market. These strategies are aimed at keeping the volatility of a portfolio consisting of a risky asset, typically an equity index, and cash fixed. This is done by changing the allocation of the assets based on an indicator of the future volatility of the risky asset. We use the three month rolling implied volatility as an indicator of future volatility to influence our asset allocation. We compare investments based on different volatility targets to the performance of bonds, equities, property as well as the Absolute Return peer mean. We examine risk and return characteristics of the volatility targeting strategy as compared to different asset classes.

The effect of composition on volatility from a copper alloy

International Nuclear Information System (INIS)

McCarthy, K.A.; Smolik, G.R.; Wallace, R.S.

1994-01-01

During a Loss of Coolant Accident (LOCA) activated structural material can be mobilized through oxidation. Information on how much material is mobilized in an accident is necessary for performing safety assessments of fusion reactor designs. The Fusion Safety Program at the Idaho National Engineering Laboratory has an experimental program to measure mobilized mass as a function of temperature for various oxidizing environments. Materials studied have included beryllium (important because of its toxicity), copper alloys, a niobium alloy, PCA and HT-9 steel, tungsten (pure and an alloy), and a vanadium alloy. Some materials undergo a significant change in composition during irradiation. An example of this is copper (a candidate for the ITER first wall, divertor substrate, and various instrumentation probes and antennas), which can have as much as 1 wt% zinc due to transmutation. Additionally, as the design for ITER evolves, a slightly different copper alloy may be selected. Compositional changes may affect the extent that various elements are volatilized due to such mechanisms as diffusion through the alloy, and penetration and release from oxide layers formed on the material. To accurately calculate offsite doses for various irradiation scenarios, one must understand the effect of composition on volatility

Volatility Forecast in Crises and Expansions

Directory of Open Access Journals (Sweden)

Sergii Pypko

2015-08-01

Full Text Available We build a discrete-time non-linear model for volatility forecasting purposes. This model belongs to the class of threshold-autoregressive models, where changes in regimes are governed by past returns. The ability to capture changes in volatility regimes and using more accurate volatility measures allow outperforming other benchmark models, such as linear heterogeneous autoregressive model and GARCH specifications. Finally, we show how to derive closed-form expression for multiple-step-ahead forecasting by exploiting information about the conditional distribution of returns.

Multifractal analysis of implied volatility in index options

Science.gov (United States)

Oh, GabJin

2014-06-01

In this paper, we analyze the statistical and the non-linear properties of the log-variations in implied volatility for the CAC40, DAX and S& P500 daily index options. The price of an index option is generally represented by its implied volatility surface, including its smile and skew properties. We utilize a Lévy process model as the underlying asset to deepen our understanding of the intrinsic property of the implied volatility in the index options and estimate the implied volatility surface. We find that the options pricing models with the exponential Lévy model can reproduce the smile or sneer features of the implied volatility that are observed in real options markets. We study the variation in the implied volatility for at-the-money index call and put options, and we find that the distribution function follows a power-law distribution with an exponent of 3.5 ≤ γ ≤ 4.5. Especially, the variation in the implied volatility exhibits multifractal spectral characteristics, and the global financial crisis has influenced the complexity of the option markets.

Detecting instability in the volatility of carbon prices

Energy Technology Data Exchange (ETDEWEB)

Chevallier, Julien [Univ. Paris Dauphine (France)

2011-01-15

This article investigates the presence of outliers in the volatility of carbon prices. We compute three different measures of volatility for European Union Allowances, based on daily data (EGARCH model), option prices (implied volatility), and intraday data (realized volatility). Based on the methodology developed by Zeileis et al. (2003) and Zeileis (2006), we detect instability in the volatility of carbon prices based on two kinds of tests: retrospective tests (OLS-/Recursive-based CUSUM processes, F-statistics, and residual sum of squares), and forward-looking tests (by monitoring structural changes recursively or with moving estimates). We show evidence of strong shifts mainly for the EGARCH and IV models during the time period. Overall, we suggest that yearly compliance events, and growing uncertainties in post-Kyoto international agreements, may explain the instability in the volatility of carbon prices. (author)

A volatile-rich Earth's core inferred from melting temperature of core materials

Science.gov (United States)

Morard, G.; Andrault, D.; Antonangeli, D.; Nakajima, Y.; Auzende, A. L.; Boulard, E.; Clark, A. N.; Lord, O. T.; Cervera, S.; Siebert, J.; Garbarino, G.; Svitlyk, V.; Mezouar, M.

2016-12-01

Planetary cores are mainly constituted of iron and nickel, alloyed with lighter elements (Si, O, C, S or H). Understanding how these elements affect the physical and chemical properties of solid and liquid iron provides stringent constraints on the composition of the Earth's core. In particular, melting curves of iron alloys are key parameter to establish the temperature profile in the Earth's core, and to asses the potential occurrence of partial melting at the Core-Mantle Boundary. Core formation models based on metal-silicate equilibration suggest that Si and O are the major light element components1-4, while the abundance of other elements such as S, C and H is constrained by arguments based on their volatility during planetary accretion5,6. Each compositional model implies a specific thermal state for the core, due to the different effect that light elements have on the melting behaviour of Fe. We recently measured melting temperatures in Fe-C and Fe-O systems at high pressures, which complete the data sets available both for pure Fe7 and other binary alloys8. Compositional models with an O- and Si-rich outer core are suggested to be compatible with seismological constraints on density and sound velocity9. However, their crystallization temperatures of 3650-4050 K at the CMB pressure of 136 GPa are very close to, if not higher than the melting temperature of the silicate mantle and yet mantle melting above the CMB is not a ubiquitous feature. This observation requires significant amounts of volatile elements (S, C or H) in the outer core to further reduce the crystallisation temperature of the core alloy below that of the lower mantle. References 1. Wood, B. J., et al Nature 441, 825-833 (2006). 2. Siebert, J., et al Science 339, 1194-7 (2013). 3. Corgne, A., et al Earth Planet. Sc. Lett. 288, 108-114 (2009). 4. Fischer, R. a. et al. Geochim. Cosmochim. Acta 167, 177-194 (2015). 5. Dreibus, G. & Palme, H. Geochim. Cosmochim. Acta 60, 1125-1130 (1995). 6. Mc

CAM Stochastic Volatility Model for Option Pricing

Directory of Open Access Journals (Sweden)

Wanwan Huang

2016-01-01

Full Text Available The coupled additive and multiplicative (CAM noises model is a stochastic volatility model for derivative pricing. Unlike the other stochastic volatility models in the literature, the CAM model uses two Brownian motions, one multiplicative and one additive, to model the volatility process. We provide empirical evidence that suggests a nontrivial relationship between the kurtosis and skewness of asset prices and that the CAM model is able to capture this relationship, whereas the traditional stochastic volatility models cannot. We introduce a control variate method and Monte Carlo estimators for some of the sensitivities (Greeks of the model. We also derive an approximation for the characteristic function of the model.

[Solidification of volatile oil with graphene oxide].

Science.gov (United States)

Yan, Hong-Mei; Jia, Xiao-Bin; Zhang, Zhen-Hai; Sun, E; Xu, Yi-Hao

2015-02-01

To evaluate the properties of solidifying volatile oil with graphene oxide, clove oil and zedoary turmeric oil were solidified by graphene oxide. The amount of graphene oxide was optimized with the eugenol yield and curcumol yield as criteria. Curing powder was characterized by differential scanning calorimetry (DSC) and scanning electron microscopy (SEM). The effects of graphene oxide on dissolution in vitro and thermal stability of active components were studied. The optimum solidification ratio of graphene oxide to volatile oil was 1:1. Dissolution rate of active components had rare influence while their thermal stability improved after volatile oil was solidified. Solidifying herbal volatile oil with graphene oxide deserves further study.

Macroeconomic Volatility and Welfare in Developing Countries

OpenAIRE

Loayza, Norman V.; Rancière, Romain; Servén, Luis; Ventura, Jaume

2007-01-01

Macroeconomic Volatility and Welfare in Developing Countries: An Introduction Norman V. Loayza, Romain Ranciere, Luis Serven, ` and Jaume Ventura Macroeconomic volatility, both a source and a reflection of underdevelopment, is a fundamental concern for developing countries. This article provides a brief overview of the recent literature on macroeconomic volatility in developing countries, highlighting its causes, consequences, and possible remedies. to reduce domestic policy-induced macroecon...

Volatile liquid storage system

International Nuclear Information System (INIS)

Laverman, R.J.; Winters, P.J.; Rinehart, J.K.

1992-01-01

This patent describes a method of collecting and abating emission from a volatile liquid in an above ground storage tank. It comprises the liquid storage tank having a bottom, a vertical cylindrical circular wall having a lower edge portion joined to the bottom, and an external fixed roof, the tank having an internal floating roof floating on a volatile liquid stored in the tank, and air vent means in the tank in communication with a vapor space in the tank constituting at least the space above the floating roof when the floating roof floats on a predetermined maximum volume of volatile liquid in the tank; permitting ambient air; pumping emission laden air from the tank vapor space above the floating roof; and by means of the emissions abatement apparatus eliminating most of the emission from the emissions laden air with formation of a gaseous effluent and then discharging the resulting gaseous effluent to the atmosphere

Bacterial contribution to iodine volatilization in the environment

Energy Technology Data Exchange (ETDEWEB)

Amachi, S; Kasahara, M; Fujii, T [Chiba Univ., Dept. of Bioresources Chemistry, Matsudo, Chiba (Japan); Muramatsu, Y [National Inst. of Radiological Sciences, Chiba (Japan)

2003-09-01

The roles of microorganisms in iodine volatilization from the environment were studied. More than 100 bacterial strains were isolated from various environments such as soils, seawater and marine sediments, and were examined their capacities for volatilizing iodine. Approximately 40% of these bacteria showed significant capacities for volatilizing iodine. Gas chromatographic determinations revealed that the chemical species of gaseous iodine is methyl iodide (CH{sub 3}I). Phylogenetic analysis based on 16S ribosomal DNA showed that these 'iodine-volatilizing bacteria' are widely distributed through the bacterial domain. The iodide-methylating reaction was mediated by an enzyme protein with S-adenosyl-L-methionine (SAM) as the methyl donor. We then estimated bacterial contribution to iodine volatilization from soils. Iodine in soils was volatilized mainly as CH{sub 3}I. CH{sub 3}I emission was enhanced in the presence of glucose or yeast extract, but was inhibited by autoclaving of soils. Little CH{sub 3}I was produced under anaerobic conditions. Furthermore, the addition of streptomycin and tetracycline, antibiotics which inhibit bacterial growth, strongly inhibited CH{sub 3}I emission, while a fungal inhibitor cycloheximide caused little effect. These results suggest that iodine in soils is volatilized as CH{sub 3}I mainly by the action of aerobic soil bacteria. Similar experiment was carried out by using sea water samples. The emission of iodine from sea waters occurred biologically, and bacterial (and also other microbial) contribution was confirmed. Our results suggest that iodine is methylated and volatilized into the atmosphere as a result of bacterial activities. Since bacteria are so abundant and widespread in the environments, they may significantly contribute to global iodine volatilization. This indicates that if {sup 129}I would be released from nuclear facilities, weapons testing or ground storage of nuclear wastes, the pathway of volatilization by

Decomposing European bond and equity volatility

DEFF Research Database (Denmark)

Christiansen, Charlotte

The paper investigates volatility spillover from US and aggregate European asset markets into European national asset markets. A main contribution is that bond and equity volatilities are analyzed simultaneously. A new model belonging to the "volatilityspillover" family is suggested: The conditio...

The economic value of realized volatility

DEFF Research Database (Denmark)

Christoffersen, Peter; Feunou, Bruno; Jacobs, Kris

2014-01-01

Many studies have documented that daily realized volatility estimates based on intraday returns provide volatility forecasts that are superior to forecasts constructed from daily returns only. We investigate whether these forecasting improvements translate into economic value added. To do so, we ...

Empirical Analysis of Stochastic Volatility Model by Hybrid Monte Carlo Algorithm

International Nuclear Information System (INIS)

Takaishi, Tetsuya

2013-01-01

The stochastic volatility model is one of volatility models which infer latent volatility of asset returns. The Bayesian inference of the stochastic volatility (SV) model is performed by the hybrid Monte Carlo (HMC) algorithm which is superior to other Markov Chain Monte Carlo methods in sampling volatility variables. We perform the HMC simulations of the SV model for two liquid stock returns traded on the Tokyo Stock Exchange and measure the volatilities of those stock returns. Then we calculate the accuracy of the volatility measurement using the realized volatility as a proxy of the true volatility and compare the SV model with the GARCH model which is one of other volatility models. Using the accuracy calculated with the realized volatility we find that empirically the SV model performs better than the GARCH model.

Observability of market daily volatility

Science.gov (United States)

Petroni, Filippo; Serva, Maurizio

2016-02-01

We study the price dynamics of 65 stocks from the Dow Jones Composite Average from 1973 to 2014. We show that it is possible to define a Daily Market Volatility σ(t) which is directly observable from data. This quantity is usually indirectly defined by r(t) = σ(t) ω(t) where the r(t) are the daily returns of the market index and the ω(t) are i.i.d. random variables with vanishing average and unitary variance. The relation r(t) = σ(t) ω(t) alone is unable to give an operative definition of the index volatility, which remains unobservable. On the contrary, we show that using the whole information available in the market, the index volatility can be operatively defined and detected.

Bias-reduced estimation of long memory stochastic volatility

DEFF Research Database (Denmark)

Frederiksen, Per; Nielsen, Morten Ørregaard

We propose to use a variant of the local polynomial Whittle estimator to estimate the memory parameter in volatility for long memory stochastic volatility models with potential nonstation- arity in the volatility process. We show that the estimator is asymptotically normal and capable of obtaining...

Volatile-mediated interactions between phylogenetically different soil bacteria

Directory of Open Access Journals (Sweden)

Paolina eGarbeva

2014-06-01

Full Text Available There is increasing evidence that organic volatiles play an important role in interactions between micro-organisms in the porous soil matrix. Here we report that volatile compounds emitted by different soil bacteria can affect the growth, antibiotic production and gene expression of the soil bacterium Pseudomonas fluorescens Pf0-1. We applied a novel cultivation approach that mimics the natural nutritional heterogeneity in soil in which P. fluorescens grown on nutrient-limited agar was exposed to volatiles produced by 4 phylogenetically different bacterial isolates (Collimonas pratensis, Serratia plymuthica, Paenibacillus sp. and Pedobacter sp. growing in sand containing artificial root exudates. Contrary to our expectation, the produced volatiles stimulated rather than inhibited the growth of P. fluorescens. A genome-wide, microarray-based analysis revealed that volatiles of all 4 bacterial strains affected gene expression of P. fluorescens, but with a different pattern of gene expression for each strain. Based on the annotation of the differently expressed genes, bacterial volatiles appear to induce a chemotactic motility response in P. fluorescens, but also an oxidative stress response. A more detailed study revealed that volatiles produced by C. pratensis triggered, antimicrobial secondary metabolite production in P. fluorescens. Our results indicate that bacterial volatiles can have an important role in communication, trophic - and antagonistic interactions within the soil bacterial community.

Investment timing under hybrid stochastic and local volatility

International Nuclear Information System (INIS)

Kim, Jeong-Hoon; Lee, Min-Ku; Sohn, So Young

2014-01-01

Highlights: • The effects of hybrid stochastic volatility on real option prices are studied. • The stochastic volatility consists of a fast mean-reverting component and a CEV type one. • A fast mean-reverting factor lowers real option prices and investment thresholds. • The increase of elasticity raises real option prices and investment thresholds. • The effects of the addition of a slowly varying factor depend upon the project value. - Abstract: We consider an investment timing problem under a real option model where the instantaneous volatility of the project value is given by a combination of a hidden stochastic process and the project value itself. The stochastic volatility part is given by a function of a fast mean-reverting process as well as a slowly varying process and the local volatility part is a power (the elasticity parameter) of the project value itself. The elasticity parameter controls directly the correlation between the project value and the volatility. Knowing that the project value represents the market price of a real asset in many applications and the value of the elasticity parameter depends on the asset, the elasticity parameter should be treated with caution for investment decision problems. Based on the hybrid structure of volatility, we investigate the simultaneous impact of the elasticity and the stochastic volatility on the real option value as well as the investment threshold

The Volatility Effect: Lower Risk without Lower Return

NARCIS (Netherlands)

D.C. Blitz (David); P. van Vliet (Pim)

2007-01-01

textabstractWe present empirical evidence that stocks with low volatility earn high risk-adjusted returns. The annual alpha spread of global low versus high volatility decile portfolios amounts to 12% over the 1986-2006 period. We also observe this volatility effect within the US, European and

The effects of exchange rate volatility on international trade fl ows: evidence from panel data analysis and fuzzy approach

Directory of Open Access Journals (Sweden)

Robert M. Kunst

2012-06-01

Full Text Available The aim of this paper is to analyze the effects of exchange rate volatility on international trade flows by using two different approaches, the panel data analysis and fuzzy logic, and to compare the results. To a panel with the crosssection dimension of 91 pairs of EU15 countries and with time ranging from 1964 to 2003, an extended gravity model of trade is applied in order to determine theeffects of exchange rate volatility on bilateral trade flows of EU15 countries. The estimated impact is clearly negative, which indicates that exchange rate volatility has a negative influence on bilateral trade flows. Then, this traditional panel approach is contrasted with an alternative investigation based on fuzzy logic. The key elements of the fuzzy approach are to set fuzzy decision rules and to assignmembership functions to the fuzzy sets intuitively based on experience. Both approaches yield very similar results and fuzzy approach is recommended to be used as a complement to statistical methods.

The Short-Time Behaviour of VIX Implied Volatilities in a Multifactor Stochastic Volatility Framework

DEFF Research Database (Denmark)

Barletta, Andrea; Nicolato, Elisa; Pagliarani, Stefano

error bounds for VIX futures, options and implied volatilities. In particular, we derive exact asymptotic results for VIX implied volatilities, and their sensitivities, in the joint limit of short time-to-maturity and small log-moneyness. The obtained expansions are explicit, based on elementary...... approximations of equity (SPX) options. However, the generalizations needed to cover the case of VIX options are by no means straightforward as the dynamics of the underlying VIX futures are not explicitly known. To illustrate the accuracy of our technique, we provide numerical implementations for a selection...... functions and they neatly uncover how the VIX skew depends on the specific choice of the volatility and the vol-of-vol processes. Our results are based on perturbation techniques applied to the infinitesimal generator of the underlying process. This methodology has been previously adopted to derive...

Release of volatile mercury from vascular plants

Science.gov (United States)

Siegel, S. M.; Puerner, N. J.; Speitel, T. W.

1974-01-01

Volatile, organic solvent soluble mercury has been found in leaves and seeds of several angiosperms. Leaves of garlic vine, avocado, and haole-koa release mercury in volatile form rapidly at room temperature. In garlic vine, the most active release is temperature dependent, but does not parallel the vapor-pressure temperature relationship for mercury. Mercury can be trapped in nitric-perchloric acid digestion fluid, or n-hexane, but is lost from the hexane unless the acid mixture is present. Seeds of haole-koa also contain extractable mercury but volatility declines in the series n-hexane (90%), methanol (50%), water (10%). This suggests that reduced volatility may accompany solvolysis in the more polar media.

Investigate Volatility Jumps in Chinese Stock Index Future and Spot Markets Based on Realized Volatility

Institute of Scientific and Technical Information of China (English)

Zhang qiang

2014-01-01

This paper aims to investigate Chinese stock index future and spot market's volatility jumps characteristics by using recentlydeveloped jumpstest(Barndorff-Nielsenand Shephard,2004).Thedataisoneyearhigh frequencydatafromthe period19/04/2012 to 19/04/2013. The empirical results show two important points. Firstly, the logarithm of adjusted realized volatility shows a high degree of autocorrelation and folows a normal distribution nearly perfect. These characteristics show a potential high forecast ability. Secondly,thedailyrealizedvolatilityjumpsshowalowdegreeofautocorrealtionbutwithsignificantvolatilityclusters.Ingeneral,thejumps component has a low percentage in realized volatility estimation for both future and spot market. On average, there is one significant jumpswithinevery ten continue trading days.Spotmarkets showshigherdegree of jumps,anda rapidly jumpscharacterises.It implies that jumps may transmission from spot to future market, and spot market dominate future market at some degree.

Volatility forecasting for low-volatility portfolio selection in the US and the Korean equity markets

Science.gov (United States)

Kim, Saejoon

2018-01-01

We consider the problem of low-volatility portfolio selection which has been the subject of extensive research in the field of portfolio selection. To improve the currently existing techniques that rely purely on past information to select low-volatility portfolios, this paper investigates the use of time series regression techniques that make forecasts of future volatility to select the portfolios. In particular, for the first time, the utility of support vector regression and its enhancements as portfolio selection techniques is provided. It is shown that our regression-based portfolio selection provides attractive outperformances compared to the benchmark index and the portfolio defined by a well-known strategy on the data-sets of the S&P 500 and the KOSPI 200.

Chemistry gains a new element: Z=106

International Nuclear Information System (INIS)

Gaeggeler, H.W.; Eichler, B.; Tuerler, A.

1997-01-01

Even though 112 chemical elements are presently known, for elements with atomic numbers above 105 only nuclear decay properties have been investigated so far. Such data allow to proof the existence of a given nuclide, but they do not yield any information with respect to the position of a chemical element in the Periodic Table. We have performed ever first chemical investigations of element 106. According to the Periodic Table element 106 should be a member of group 6, having similar chemical properties as W, Mo and Cr. Two different techniques were applied to separate and identify element 106: a liquid chromatography system (ARCA = Automated Rapid Chemistry Apparatus) and a continuous isothermal chromatography device (OLGA = On-Line Gaschemistry Apparatus). With ARCA about 5'000 separations on small cation exchange columns (Aminex A6) with a 0.1 M HNO 3 /5.10 -4 M Hf solution were performed and with OLGA the gas adsorption behaviour of oxychlorides on quartz columns using Cl 2 /SOCl 2 /O 2 as reactive gas were studied. On the basis of only ten detected atoms, it was possible to proof that element 106 forms complexes which are eluted at positions similar to those of Mo and W. In addition, in the gas phase element 106 forms oxychlorides of lower volatility compared to those of Mo and W. (author) 1 ref

Fundamental uncertainty and stock market volatility

NARCIS (Netherlands)

Arnold, I.J.M.; Vrugt, E.B.

2008-01-01

We provide empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from participants in the Survey of Professional Forecasters over the period 1969 to 1996.

Highly Stretchable Non-volatile Nylon Thread Memory

Science.gov (United States)

Kang, Ting-Kuo

2016-04-01

Integration of electronic elements into textiles, to afford e-textiles, can provide an ideal platform for the development of lightweight, thin, flexible, and stretchable e-textiles. This approach will enable us to meet the demands of the rapidly growing market of wearable-electronics on arbitrary non-conventional substrates. However the actual integration of the e-textiles that undergo mechanical deformations during both assembly and daily wear or satisfy the requirements of the low-end applications, remains a challenge. Resistive memory elements can also be fabricated onto a nylon thread (NT) for e-textile applications. In this study, a simple dip-and-dry process using graphene-PEDOT:PSS (poly(3,4-ethylenedioxythiophene) polystyrene sulfonate) ink is proposed for the fabrication of a highly stretchable non-volatile NT memory. The NT memory appears to have typical write-once-read-many-times characteristics. The results show that an ON/OFF ratio of approximately 103 is maintained for a retention time of 106 s. Furthermore, a highly stretchable strain and a long-term digital-storage capability of the ON-OFF-ON states are demonstrated in the NT memory. The actual integration of the knitted NT memories into textiles will enable new design possibilities for low-cost and large-area e-textile memory applications.

Estimation of Stochastic Volatility Models by Nonparametric Filtering

DEFF Research Database (Denmark)

Kanaya, Shin; Kristensen, Dennis

2016-01-01

/estimated volatility process replacing the latent process. Our estimation strategy is applicable to both parametric and nonparametric stochastic volatility models, and can handle both jumps and market microstructure noise. The resulting estimators of the stochastic volatility model will carry additional biases...... and variances due to the first-step estimation, but under regularity conditions we show that these vanish asymptotically and our estimators inherit the asymptotic properties of the infeasible estimators based on observations of the volatility process. A simulation study examines the finite-sample properties...

Volatile flavor compounds in yogurt: a review.

Science.gov (United States)

Cheng, Hefa

2010-11-01

Considerable knowledge has been accumulated on the volatile compounds contributing to the aroma and flavor of yogurt. This review outlines the production of the major flavor compounds in yogurt fermentation and the analysis techniques, both instrumental and sensory, for quantifying the volatile compounds in yogurt. The volatile compounds that have been identified in plain yogurt are summarized, with the few key aroma compounds described in detail. Most flavor compounds in yogurt are produced from lipolysis of milkfat and microbiological transformations of lactose and citrate. More than 100 volatiles, including carbonyl compounds, alcohols, acids, esters, hydrocarbons, aromatic compounds, sulfur-containing compounds, and heterocyclic compounds, are found in yogurt at low to trace concentrations. Besides lactic acid, acetaldehyde, diacetyl, acetoin, acetone, and 2-butanone contribute most to the typical aroma and flavor of yogurt. Extended storage of yogurt causes off-flavor development, which is mainly attributed to the production of undesired aldehydes and fatty acids during lipid oxidation. Further work on studying the volatile flavor compounds-matrix interactions, flavor release mechanisms, and the synergistic effect of flavor compounds, and on correlating the sensory properties of yogurt with the compositions of volatile flavor compounds are needed to fully elucidate yogurt aroma and flavor.

Long- and Short-Term Cryptocurrency Volatility Components: A GARCH-MIDAS Analysis

Directory of Open Access Journals (Sweden)

Christian Conrad

2018-05-01

Full Text Available We use the GARCH-MIDAS model to extract the long- and short-term volatility components of cryptocurrencies. As potential drivers of Bitcoin volatility, we consider measures of volatility and risk in the US stock market as well as a measure of global economic activity. We find that S&P 500 realized volatility has a negative and highly significant effect on long-term Bitcoin volatility. The finding is atypical for volatility co-movements across financial markets. Moreover, we find that the S&P 500 volatility risk premium has a significantly positive effect on long-term Bitcoin volatility. Finally, we find a strong positive association between the Baltic dry index and long-term Bitcoin volatility. This result shows that Bitcoin volatility is closely linked to global economic activity. Overall, our findings can be used to construct improved forecasts of long-term Bitcoin volatility.

A Jump Diffusion Model for Volatility and Duration

DEFF Research Database (Denmark)

Wei, Wei; Pelletier, Denis

by the market microstructure theory. Traditional measures of volatility do not utilize durations. I adopt a jump diffusion process to model the persistence of intraday volatility and conditional duration, and their interdependence. The jump component is disentangled from the continuous part of the price......, volatility and conditional duration process. I develop a MCMC algorithm for the inference of irregularly spaced multivariate process with jumps. The algorithm provides smoothed estimates of the latent variables such as spot volatility, jump times and jump sizes. I apply this model to IBM data and I find...... meaningful relationship between volatility and conditional duration. Also, jumps play an important role in the total variation, but the jump variation is smaller than traditional measures that use returns sampled at lower frequency....

[Study on absorbing volatile oil with mesoporous carbon].

Science.gov (United States)

Yan, Hong-mei; Jia, Xiao-bin; Zhang, Zhen-hai; Sun, E; Yang Nan

2014-11-01

Clove oil and turmeric oil were absorbed by mesoporous carbon. The absorption ratio of mesoporous carbon to volatile oil was optimized with the eugenol yield and curcumol yield as criteria Curing powder was characterized by scanning electron microscopy (SEM) and differential scanning calorietry (DSC). The effects of mesoporous carbon on dissolution in vitro and thermal stability of active components were studied. They reached high adsorption rate when the absorption ratio of mesoporous carbon to volatile oil was 1:1. When volatile oil was absorbed, dissolution rate of active components had a little improvement and their thermal stability improved after volatile oil was absorbed by the loss rate decreasing more than 50%. Absorbing herbal volatile oil with mesoporous carbon deserves further studying.

Gasoline taxes and revenue volatility: An application to California

International Nuclear Information System (INIS)

Madowitz, M.; Novan, K.

2013-01-01

This paper examines how applying different combinations of excise and sales taxes on motor fuels impact the volatility of retail fuel prices and tax revenues. Two features of gasoline and diesel markets make the choice of tax mechanism a unique problem. First, prices are very volatile. Second, demand for motor fuels is extremely inelastic. As a result, fuel expenditures vary substantially over time. Tying state revenues to these expenditures, as is the case with a sales tax, results in a volatile stream of revenue which imposes real costs on agents in an economy. On July 1, 2010, California enacted Assembly Bill x8-6, the “Gas Tax Swap”, increasing the excise tax and decreasing the sales tax on gasoline purchases. While the initial motivation behind the revenue neutral swap was to provide the state with greater flexibility within its budget, we highlight that this change has two potentially overlooked benefits; it reduces retail fuel price volatility and tax revenue volatility. Simulating the monthly fuel prices and tax revenues under alternative tax policies, we quantify the potential reductions in revenue volatility. The results reveal that greater benefits can be achieved by going beyond the tax swap and eliminating the gasoline sales tax entirely. - Highlights: • We examine how gasoline taxes affect government revenue volatility. • We simulate the impact of California's Gasoline Tax Swap policy. • Sales taxes are shown to magnify price volatility and government revenue volatility. • A pure excise tax policy results in less volatile fuel prices and state revenues. • We argue that reductions in both forms of volatility are welfare enhancing

Biogenic volatile emissions from the soil.

Science.gov (United States)

Peñuelas, J; Asensio, D; Tholl, D; Wenke, K; Rosenkranz, M; Piechulla, B; Schnitzler, J P

2014-08-01

Volatile compounds are usually associated with an appearance/presence in the atmosphere. Recent advances, however, indicated that the soil is a huge reservoir and source of biogenic volatile organic compounds (bVOCs), which are formed from decomposing litter and dead organic material or are synthesized by underground living organism or organs and tissues of plants. This review summarizes the scarce available data on the exchange of VOCs between soil and atmosphere and the features of the soil and particle structure allowing diffusion of volatiles in the soil, which is the prerequisite for biological VOC-based interactions. In fact, soil may function either as a sink or as a source of bVOCs. Soil VOC emissions to the atmosphere are often 1-2 (0-3) orders of magnitude lower than those from aboveground vegetation. Microorganisms and the plant root system are the major sources for bVOCs. The current methodology to detect belowground volatiles is described as well as the metabolic capabilities resulting in the wealth of microbial and root VOC emissions. Furthermore, VOC profiles are discussed as non-destructive fingerprints for the detection of organisms. In the last chapter, belowground volatile-based bi- and multi-trophic interactions between microorganisms, plants and invertebrates in the soil are discussed. © 2014 John Wiley & Sons Ltd.

PIXE micro-mapping of minor elements in Hypatia, a diamond bearing carbonaceous stone from the Libyan Desert Glass area, Egypt: Inheritance from a cold molecular cloud?

International Nuclear Information System (INIS)

Andreoli, M.A.G.; Przybylowicz, W.J.; Kramers, J.; Belyanin, G.; Westraadt, J.; Bamford, M.; Mesjasz-Przybylowicz, J.; Venter, A.

2015-01-01

Matter originating from space, particularly if it represents rare meteorite samples, is ideally suited to be studied by Particle Induced X-ray Emission (PIXE) as this analytical technique covers a broad range of trace elements and is per se non-destructive. We describe and interpret a set of micro-PIXE elemental maps obtained on two minute (weighing about 25 and 150 mg), highly polished fragments taken from Hypatia, a controversial, diamond-bearing carbonaceous pebble from the SW Egyptian desert. PIXE data show that Hypatia is chemically heterogeneous, with significant amounts of primordial S, Cl, P and at least 10 elements with Z > 21 (Ti, V, Cr, Mn, Fe, Ni, Os, Ir) locally attaining concentrations above 500 ppm. Si, Al, Ca, K, O also occur, but are predominantly confined to cracks and likely represent contamination from the desert environment. Unusual in the stone is poor correlation between elements within the chalcophile (S vs. Cu, Zn) and siderophile (i.e.: Fe vs. Ni, Ir, Os) groups, whereas other siderophiles (Mn, Mo and the Platinum group elements (PGEs)) mimic the distribution of lithophile elements such as Cr and V. Worthy of mention is also the presence of a globular domain (Ø ∼ 120 μm) that is C and metals-depleted, yet Cl (P)-enriched (>3 wt.% and 0.15 wt.% respectively). While the host of the Cl remains undetermined, this chemical unit is enclosed within a broader domain that is similarly C-poor, yet Cr–Ir rich (up to 1.2 and 0.3 wt.% respectively). Our data suggest that the pebble consists of shock-compacted, primitive carbonaceous material enriched in cold, pre-solar dust.

PIXE micro-mapping of minor elements in Hypatia, a diamond bearing carbonaceous stone from the Libyan Desert Glass area, Egypt: Inheritance from a cold molecular cloud?

Energy Technology Data Exchange (ETDEWEB)

Andreoli, M.A.G., E-mail: marco.andreoli@wits.ac.za [School of Geosciences, University of the Witwatersrand, P.O. Box 3, Wits 2050 (South Africa); Przybylowicz, W.J. [iThemba LABS, National Research Foundation, P.O. Box 722, Somerset West 7129 (South Africa); AGH University of Science and Technology, Faculty of Physics & Applied Computer Science, al. A. Mickiewicza 30, 30-059 Kraków (Poland); Kramers, J.; Belyanin, G. [Department of Geology, University of Johannesburg, Auckland Park 2006 (South Africa); Westraadt, J. [Department of Physics, Nelson Mandela Metropolitan University, Port Elizabeth 6031 (South Africa); Bamford, M. [Evolutionary Studies Institute, University of the Witwatersrand, P.O. Box 3, Wits 2050 (South Africa); Mesjasz-Przybylowicz, J. [iThemba LABS, National Research Foundation, P.O. Box 722, Somerset West 7129 (South Africa); Venter, A. [South African Nuclear Energy Corporation, P.O. Box 582, Pretoria 0001 (South Africa)

2015-11-15

Matter originating from space, particularly if it represents rare meteorite samples, is ideally suited to be studied by Particle Induced X-ray Emission (PIXE) as this analytical technique covers a broad range of trace elements and is per se non-destructive. We describe and interpret a set of micro-PIXE elemental maps obtained on two minute (weighing about 25 and 150 mg), highly polished fragments taken from Hypatia, a controversial, diamond-bearing carbonaceous pebble from the SW Egyptian desert. PIXE data show that Hypatia is chemically heterogeneous, with significant amounts of primordial S, Cl, P and at least 10 elements with Z > 21 (Ti, V, Cr, Mn, Fe, Ni, Os, Ir) locally attaining concentrations above 500 ppm. Si, Al, Ca, K, O also occur, but are predominantly confined to cracks and likely represent contamination from the desert environment. Unusual in the stone is poor correlation between elements within the chalcophile (S vs. Cu, Zn) and siderophile (i.e.: Fe vs. Ni, Ir, Os) groups, whereas other siderophiles (Mn, Mo and the Platinum group elements (PGEs)) mimic the distribution of lithophile elements such as Cr and V. Worthy of mention is also the presence of a globular domain (Ø ∼ 120 μm) that is C and metals-depleted, yet Cl (P)-enriched (>3 wt.% and 0.15 wt.% respectively). While the host of the Cl remains undetermined, this chemical unit is enclosed within a broader domain that is similarly C-poor, yet Cr–Ir rich (up to 1.2 and 0.3 wt.% respectively). Our data suggest that the pebble consists of shock-compacted, primitive carbonaceous material enriched in cold, pre-solar dust.

Postirradiation examinations of the BG-9 element

International Nuclear Information System (INIS)

Strain, R.V.; Renfro, C.W.; Neimark, L.A.

1976-10-01

Postirradiation examinations were performed on the GB-9 element irradiated in the Oak Ridge Reactor. This vented fuel element was irradiated to a peak burnup of 54,000 MWd/MT at a peak power rating of 14.8 kW/ft and a maximum outside surface temperature of 685 +- 15 0 C. The maximum diametral increase of the element was 0.2% ΔD/D. Volatile fission products migrated to the ends of the fuel column but had not been transported beyond the blanket region of the element. Fission-product attack of the cladding was found to a depth of 4.4 mils adjacent to the mixed-oxide fuel. The maximum fission-product attack (approximately 6.2 mils) was found adjacent to slightly hyperstoichiometric UO 2 pellets at the upper end of the fuel column. The more severe attack in this region has been attributed to the higher oxygen potential adjacent to the hyperstoichiometric UO 2 fuel. A stress-rupture test was performed on a section of the element. The cladding ruptured after 30 min at 700 0 C and approximately 21,500-psi loop stress, resulting in a diametral strain of 1.6%

The Forecast Performance of Competing Implied Volatility Measures

DEFF Research Database (Denmark)

Tsiaras, Leonidas

This study examines the information content of alternative implied volatility measures for the 30 components of the Dow Jones Industrial Average Index from 1996 until 2007. Along with the popular Black-Scholes and "model-free" implied volatility expectations, the recently proposed corridor implie......, volatility definitions, loss functions and forecast evaluation settings....

Stock market volatility and macroeconomic uncertainty

NARCIS (Netherlands)

Arnold, I.J.M.; Vrugt, E.B.

2006-01-01

This paper provides empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from SPF survey participants over the period from 1969 to 1996. This link is much

CHEMICAL INVESTIGATION OF THE VOLATILE CONSTITUENTS ...

African Journals Online (AJOL)

CHEMICAL INVESTIGATION OF THE VOLATILE CONSTITUENTS OF CLEOME VISCOSA FROM NIGERIA. Gabriel Olatunji, Peter Weyerstahl, Stephen Oguntoye. Abstract. The major volatile constituents of the oils from the integral parts of Cleome viscosa L. from Nigeria have been identified by GC, GC/MS and 1H NMR.

Chemical Composition of the Semi-Volatile Grains of Comet 67P/Churyumov-Gerasimenko

Science.gov (United States)

Wurz, P.; Altwegg, K.; Balsiger, H. R.; Berthelier, J. J.; De Keyser, J.; Fiethe, B.; Fuselier, S. A.; Gasc, S.; Gombosi, T. I.; Korth, A.; Mall, U.; Reme, H.; Rubin, M.; Tzou, C. Y.

2017-12-01

Rosetta was in orbit of comet 67P/Churyumov-Gerasimenko from August 2014 to September 2016. On board is the Rosetta Orbiter Spectrometer for Ion and Neutral Analysis (ROSINA) experiment that has been continuously collecting data on the chemical composition and activity of the coma from 3.5 AU to pericentre at 1.24 AU and out again to 3.5 AU. ROSINA consists of two mass spectrometers, the Double Focusing Mass Spectrometer (DFMS) and the Reflectron-type Time-Of-Flight (RTOF), as well as the COmet Pressure Sensor (COPS). ROSINA recorded the neutral gas and thermal plasma in the comet's coma. The two mass spectrometers have high dynamic ranges and complement each other with high mass resolution, and high time resolution and large mass range. COPS measures total gas densities, bulk velocities, and gas temperatures. Occasionally, a dust grain of cometary origin enters the ion source of a ROSINA instrument where the volatile part evaporates since these ion sources are hot. The release of volatiles from cometary dust grains was observed with all three ROSINA instruments on several occasions. Because the volatile content of such a dust grain is completely evaporated after a few seconds, the RTOF instrument is best suited for the investigation of its chemical composition since complete mass spectra are recorded during this time. During the mission 9 dust grains were observed with RTOF during the October 2014 to July 2016 time period. It is estimated that these grains contain about 10-15 g of volatiles. The mass spectra were interpreted with a set of 75 molecules, with the major groups of chemical species being hydrocarbons, oxygenated hydrocarbons, nitrogen-bearing molecules, sulphur-bearing molecules, halogenated molecules and others. About 70% of these grains are depleted in water compared to the comet coma, thus, can be considered as semi-volatile dust grains, and the other about 30% are water grains. The chemical composition varies considerably from grain to grain

Long Memory in STOCK Market Volatility: the International Evidence

Science.gov (United States)

Yang, Chunxia; Hu, Sen; Xia, Bingying; Wang, Rui

2012-08-01

It is still a hot topic to catch the auto-dependence behavior of volatility. Here, based on the measurement of average volatility, under different observation window size, we investigated the dependence of successive volatility of several main stock indices and their simulated GARCH(1, 1) model, there were obvious linear auto-dependence in the logarithm of volatility under a small observation window size and nonlinear auto-dependence under a big observation. After calculating the correlation and mutual information of the logarithm of volatility for Dow Jones Industrial Average during different periods, we find that some influential events can change the correlation structure and the volatilities of different periods have distinct influence on that of the remote future. Besides, GARCH model could produce similar behavior of dependence as real data and long memory property. But our analyses show that the auto-dependence of volatility in GARCH is different from that in real data, and the long memory is undervalued by GARCH.

Do energy prices stimulate food price volatility? Examining volatility transmission between US oil, ethanol and corn markets

NARCIS (Netherlands)

Gardebroek, C.; Hernandez, M.A.

2013-01-01

This paper examines volatility transmission in oil, ethanol and corn prices in the United States between 1997 and 2011. We follow a multivariate GARCH approach to evaluate the level of interdependence and the dynamics of volatility across these markets. Preliminary results indicate a higher

Do energy prices stimulate food price volatility? Examining volatility transmission between US oil, ethanol and corn markets

NARCIS (Netherlands)

Gardebroek, C.; Hernandez, M.A.

2012-01-01

This paper examines volatility transmission in oil, ethanol and corn prices in the United States between 1997 and 2011. We follow a multivariate GARCH approach to evaluate the level of interdependence and the dynamics of volatility across these markets. Preliminary results indicate a higher

Do energy prices stimulate food price volatility? Examining volatility transmission between US oil, ethanol and corn markets

NARCIS (Netherlands)

Hernandez, M.A.; Gardebroek, C.

2012-01-01

This paper examines volatility transmission in oil, ethanol and corn prices in the United States between 1997 and 2011. We follow a multivariate GARCH approach to evaluate the level of interdependence and the dynamics of volatility across these markets. The estimation results indicate a higher

Option Valuation with Observable Volatility and Jump Dynamics

DEFF Research Database (Denmark)

Christoffersen, Peter; Feunoua, Bruno; Jeon, Yoontae

Under very general conditions, the total quadratic variation of a jump-diffusion process can be decomposed into diffusive volatility and squared jump variation. We use this result to develop a new option valuation model in which the underlying asset price exhibits volatility and jump intensity...... dynamics. The volatility and jump intensity dynamics in the model are directly driven by model-free empirical measures of diffusive volatility and jump variation. Because the empirical measures are observed in discrete intervals, our option valuation model is cast in discrete time, allowing...

Option Valuation with Observable Volatility and Jump Dynamics

DEFF Research Database (Denmark)

Christoffersen, Peter; Feunoua, Bruno; Jeon, Yoontae

2015-01-01

Under very general conditions, the total quadratic variation of a jump-diffusion process can be decomposed into diffusive volatility and squared jump variation. We use this result to develop a new option valuation model in which the underlying asset price exhibits volatility and jump intensity...... dynamics. The volatility and jump intensity dynamics in the model are directly driven by model-free empirical measures of diffusive volatility and jump variation. Because the empirical measures are observed in discrete intervals, our option valuation model is cast in discrete time, allowing...

Time-varying volatility in Malaysian stock exchange: An empirical study using multiple-volatility-shift fractionally integrated model

Science.gov (United States)

Cheong, Chin Wen

2008-02-01

This article investigated the influences of structural breaks on the fractionally integrated time-varying volatility model in the Malaysian stock markets which included the Kuala Lumpur composite index and four major sectoral indices. A fractionally integrated time-varying volatility model combined with sudden changes is developed to study the possibility of structural change in the empirical data sets. Our empirical results showed substantial reduction in fractional differencing parameters after the inclusion of structural change during the Asian financial and currency crises. Moreover, the fractionally integrated model with sudden change in volatility performed better in the estimation and specification evaluations.

Indigenous abundances of siderophile elements in the lunar highlands: implications for the origin of the Moon

International Nuclear Information System (INIS)

Delano, J.W.; Ringwood, A.E.

1978-01-01

Substantial indigeneous abundances of siderophile elements have been found to be present in the lunar highlands. The abundances of 13 siderophile elements in the parental magma were estimated by using a simple model. It is shown that metal/silicate fractionation within the Moon cannot have been the cause of the siderophile element abundances in the parental highlands magma and primitive, low-Ti mare basalts. The relative abundances of the indigenous siderophile elements in highlands and mare samples seem, instead, to be the result of complex processes which operated prior to the Moon's accretion. The abundances of the relatively involatile, siderophile elements in the parental highlands magma are strikingly similar to the abundances observed in terrestrial oceanic tholeiites. Furthermore, the abundances of the relatively volatile, siderophile elements in the parental highlands magma are also systematically related to the corresponding abundances in terrestrial oceanic tholeiites. In fact, the parental magma of the lunar highlands can be essentially regarded as having been a volatile-depleted terrestrial oceanic tholeite. The origin of the moon is discussed in the context of the results. The probability that depletion of siderophile elements occurred in an earlier generation of differentiated planetesimals similar to those which formed the basaltic achondrites, stony-irons, and irons is examined but can be dismissed on several grounds. It seems that the uniquely terrestrial 'siderophile signature' within the Moon can be explained only if the Moon was derived from the Earth's mantle subsequent to core-formation. (Auth.)

Volatility estimation using a rational GARCH model

Directory of Open Access Journals (Sweden)

Tetsuya Takaishi

2018-03-01

Full Text Available The rational GARCH (RGARCH model has been proposed as an alternative GARCHmodel that captures the asymmetric property of volatility. In addition to the previously proposedRGARCH model, we propose an alternative RGARCH model called the RGARCH-Exp model thatis more stable when dealing with outliers. We measure the performance of the volatility estimationby a loss function calculated using realized volatility as a proxy for true volatility and compare theRGARCH-type models with other asymmetric type models such as the EGARCH and GJR models.We conduct empirical studies of six stocks on the Tokyo Stock Exchange and find that a volatilityestimation using the RGARCH-type models outperforms the GARCH model and is comparable toother asymmetric GARCH models.

MACROECONOMIC VARIABLES AND STOCK PRICE VOLATILITY IN NIGERIA

Directory of Open Access Journals (Sweden)

OSAZEE GODWIN OMOROKUNWA

2014-10-01

Full Text Available The purpose of this paper is to examine the relationship between stock price volatility and few macroeconomic variables such as inflation, exchange rate, GDP and interest rate. Annual time series data ranging from 1980 to 2011 was used for this study. The generalized autoregressive conditional heteroskedasticity (GARCH model was used in the empirical analysis. The findings of the study showed that stock prices in Nigeria are volatile. And that past information in the market have effect on stock price volatility in Nigeria. In addition, the study showed that interest rate and exchange have a weak effect on stock price volatility while inflation is the main determinant of stock price volatility in Nigeria. The authors recommend that inflation should be targeted as the main monetary policy aimed at directing the stock market.

Trace element supplementation in the biogas production from wheat stillage--optimization of metal dosing.

Science.gov (United States)

Schmidt, Thomas; Nelles, Michael; Scholwin, Frank; Pröter, Jürgen

2014-09-01

A trace element dosing strategy for the anaerobic digestion of wheat stillage was developed in this study. Mesophilic CSTR reactors were operated with the sulfuric substrate wheat stillage in some cases under trace element deficiency. After supplementing trace elements during the start-up, one of the elements of Fe, Ni, Co, Mo, and W were depleted in one digester while still augmenting the other elements to determine minimum requirements for each element. The depletion of Fe and Ni resulted in a rapid accumulation of volatile fatty acids while Co and W seem to have a long-term effect. Based on the results it was possible to reduce the dosing of trace elements, which is positive with reference to economic and environmental aspects. Copyright © 2014 Elsevier Ltd. All rights reserved.

Identify and Manage the Software Requirements Volatility

OpenAIRE

Khloud Abd Elwahab; Mahmoud Abd EL Latif; Sherif Kholeif

2016-01-01

Management of software requirements volatility through development of life cycle is a very important stage. It helps the team to control significant impact all over the project (cost, time and effort), and also it keeps the project on track, to finally satisfy the user which is the main success criteria for the software project. In this research paper, we have analysed the root causes of requirements volatility through a proposed framework presenting the requirements volatility causes and how...

Metabolomic and elemental profiling of melon fruit quality as affected by genotype and environment

DEFF Research Database (Denmark)

Bernillon, Stéphane; Biais, Benoit; Deborde, Catherine

2013-01-01

Melon (Cucumis melo L.) is a global crop in terms of economic importance and nutritional quality. The aim of this study was to explore the variability in metabolite and elemental composition of several commercial varieties of melon in various environmental conditions. Volatile and non...

40 CFR 53.66 - Test procedure: Volatility test.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 5 2010-07-01 2010-07-01 false Test procedure: Volatility test. 53.66... Characteristics of Class II Equivalent Methods for PM2.5 § 53.66 Test procedure: Volatility test. (a) Overview. This test is designed to ensure that the candidate method's losses due to volatility when sampling semi...

Does NVIX matter for market volatility? Evidence from Asia-Pacific markets

Science.gov (United States)

Su, Zhi; Fang, Tong; Yin, Libo

2018-02-01

Forecasting financial market volatility is an important issue in the area of econophysics, and revealing the determinants of the market volatility has drawn much attentions of the academics. In order to better predict market volatilities, we use news-based implied volatility (NVIX) to measure uncertainty, and examine the predictive power of NVIX on the stock market volatility in both long and short-term among Asia-Pacific markets via GARCH-MIDAS model. We find that NVIX does not well explain long-term volatility variants in the full sample period, and it is positively associated with market volatility through a subsample analysis starting from the Financial Crisis. We also find that NVIX is more efficient in determining short-term volatility than the long-term volatility, indicating that the impact of NVIX is short-lived and information that investors concern could be quickly reflected in the stock market volatilities.

Oxygen isotopes and volatile contents of the Gorgona komatiites, Colombia: A confirmation of the deep mantle origin of H2O

Science.gov (United States)

Gurenko, Andrey A.; Kamenetsky, Vadim S.; Kerr, Andrew C.

2016-11-01

We report O isotopes in olivine grains (Fo89-93) and volatile contents (CO2, H2O, F, S, Cl) in olivine-hosted melt inclusions from one Gorgona picrite and five komatiites with the aim of constraining the origin of H2O in these magmas. These samples have previously been analysed for major and trace elements and volatile concentrations (H2O, S, Cl) and B isotopes in melt inclusions. A distinctive feature of the included melts is relatively high contents of volatile components and boron, which show positive anomalies in, otherwise depleted, primitive mantle normalised trace and rare earth element patterns and range in δ11 B from -11.5 to 15.6‰. In this study, the olivines were systematically analysed for O isotopes (1) in the centre of grains, (2) near the grain boundaries and, (3) as close as possible to the studied melt inclusions. The majority of olivines (∼66%) are ;mantle;-like, 4.8 ‰ ≤δ18 O ≤ 5.5 ‰, with a subordinate but still significant number (∼33%) above, and only 2 grains below, this range. There is no systematic difference between the central and marginal parts of the grains. Higher than ;mantle; δ18OOl values are ascribed to low-T (Gorgona mafic and ultramafic magmas.

Long memory and tail dependence in trading volume and volatility

DEFF Research Database (Denmark)

Rossi, Eduardo; Santucci de Magistris, Paolo

2013-01-01

We investigate the relationship between volatility, measured by realized volatility, and trading volume for 25 NYSE stocks. We show that volume and volatility are long memory but not fractionally cointegrated in most cases. We also find right tail dependence in the volatility and volume innovations...

Pyrolysis and volatilization of cocaine

International Nuclear Information System (INIS)

Martin, B.R.; Lue, L.P.; Boni, J.P.

1989-01-01

The increasing popularity of inhaling cocaine vapor prompted the present study, to determine cocaine's fate during this process. The free base of [3H]cocaine (1 microCi/50 mg) was added to a glass pipe, which was then heated in a furnace to simulate freebasing. Negative pressure was used to draw the vapor through a series of glass wool, ethanol, acidic, and basic traps. Air flow rate and temperature were found to have profound effects on the volatilization and pyrolysis of cocaine. At a temperature of 260 degrees C and a flow rate of 400 mL/min, 37% of the radioactivity remained in the pipe, 39% was found in the glass wool trap, and less than 1% in the remainder of the volatilization apparatus after a 10-min volatilization. Reducing the air flow rate to 100 mL/min reduced the amount of radioactivity collected in the glass wool trap to less than 10% of the starting material and increased the amount that remained in the pipe to 58%. GC/MS analysis of the contents of the glass wool trap after volatilization at 260 degrees C and a flow rate of 400 mL/min revealed that 60% of the cocaine remained intact, while approximately 6 and 2% of the starting material was recovered as benzoic acid and methylecgonidine, respectively. As the temperature was increased to 650 degrees C, benzoic acid and methylecgonidine accounted for 83 and 89% of the starting material, respectively, whereas only 2% of the cocaine remained intact. Quantitation of cocaine in the vapor during the course of volatilization revealed high concentrations during the first two min and low concentrations for the remaining time

Study on off-odor volatiles of irradiated packaged raw pork

International Nuclear Information System (INIS)

Lin Ruotai; Geng Shengrong; Liu Yangmin

2008-01-01

Analysing the compositions of off-odor volatiles in irradiated refrigerated vacuum-packaged pork and research on its origin. First, the off-odor volatiles were collected by a cooled via in liquid nitrogen, then the main composition of off-odor volatiles were analyzed by gas chromatograph mass spectrometry (GC-MS). The main composition of off-odor volatiles are dimethyl disulfide, dimethyl sulfide, dimethyl trisulfide, methanethiol and S-methyl thioacetate. The off-odor volatiles come from irradiated cystine, methionine and VB1. The main composition of off-odor volatiles are S-containing compounds from irradiated S-containing amino acid and VB1

Sodium channels as targets for volatile anesthetics

Directory of Open Access Journals (Sweden)

Karl F. Herold

2012-03-01

Full Text Available The molecular mechanisms of modern inhaled anesthetics although widely used in clinical settings are still poorly understood. Considerable evidence supports effects on membrane proteins such as ligand- and voltage-gated ion channels of excitable cells. Na+ channels are crucial to action potential initiation and propagation, and represent potential targets for volatile anesthetics. Inhibition of presynaptic Na+ channels leads to reduced neurotransmitter release at the synapse and could therefore contribute to the mechanisms by which volatile anesthetics produce their characteristic effects: amnesia, unconsciousness, and immobility. Early studies on crayfish and squid giant axon showed inhibition of Na+ currents by volatile anesthetics. Subsequent studies using native neuronal preparations and heterologous expression systems with various mammalian Na+ channel isoforms implicated inhibition of presynaptic Na+ channels in anesthetic actions. Volatile anesthetics reduce peak Na+ current and shift the voltage of half-maximal steady-state inactivation towards more negative potentials, thus stabilizing the fast-inactivated state. Furthermore recovery from fast-inactivation is slowed together with an enhanced use-dependent block during pulse train protocols. These effects can reduce neurotransmitter release by depressing presynaptic excitability, depolarization and Ca entry, and ultimately transmitter release. This reduction in transmitter release is more portent for glutamatergic vs. GABAergic terminals. Involvement of Na+ channel inhibition in mediating the immobility caused by volatile anesthetics has been demonstrated in animal studies, in which intrathecal infusion of the Na+ channel blocker tetrodotoxin increases volatile anesthetic potency, whereas infusion of the Na+ channels agonist veratridine reduces anesthetic potency. These studies indicate that inhibition of presynaptic Na+ channels by volatile anesthetics is involved in mediating some of

Can Internet search queries help to predict stock market volatility?

OpenAIRE

Dimpfl, Thomas; Jank, Stephan

2011-01-01

This paper studies the dynamics of stock market volatility and retail investor attention measured by internet search queries. We find a strong co-movement of stock market indices’ realized volatility and the search queries for their names. Furthermore, Granger causality is bi-directional: high searches follow high volatility, and high volatility follows high searches. Using the latter feedback effect to predict volatility we find that search queries contain additional information about market...

Modelling of volatility in monetary transmission mechanism

Energy Technology Data Exchange (ETDEWEB)

Dobešová, Anna; Klepáč, Václav; Kolman, Pavel [Department of Statistics and Operation Analysis, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 61300, Brno (Czech Republic); Bednářová, Petra [Institute of Technology and Business, Okružní 517/10, 370 01, České Budějovice (Czech Republic)

2015-03-10

The aim of this paper is to compare different approaches to modeling of volatility in monetary transmission mechanism. For this purpose we built time-varying parameter VAR (TVP-VAR) model with stochastic volatility and VAR-DCC-GARCH model with conditional variance. The data from three European countries are included in the analysis: the Czech Republic, Germany and Slovakia. Results show that VAR-DCC-GARCH system captures higher volatility of observed variables but main trends and detected breaks are generally identical in both approaches.

Modelling of volatility in monetary transmission mechanism

International Nuclear Information System (INIS)

Dobešová, Anna; Klepáč, Václav; Kolman, Pavel; Bednářová, Petra

2015-01-01

The aim of this paper is to compare different approaches to modeling of volatility in monetary transmission mechanism. For this purpose we built time-varying parameter VAR (TVP-VAR) model with stochastic volatility and VAR-DCC-GARCH model with conditional variance. The data from three European countries are included in the analysis: the Czech Republic, Germany and Slovakia. Results show that VAR-DCC-GARCH system captures higher volatility of observed variables but main trends and detected breaks are generally identical in both approaches

Arsenic volatilization in model anaerobic biogas digesters

International Nuclear Information System (INIS)

Mestrot, Adrien; Xie, Wan-Ying; Xue, Ximei; Zhu, Yong-Guan

2013-01-01

Highlights: • Arsenic is volatilized form all model anaerobic digesters, including the non-treated ones. • Volatile As species can be identified and quantified in all digesters. • Non-arsenic treated digesters volatilization rates are higher than Roxarsone treated ones. - Abstract: Arsenic is a class 1 non-threshold carcinogen which is highly ubiquitous. Arsenic undergoes many different transformations (biotic or abiotic) between and within environmental compartments, leading to a number of different chemical species possessing different properties and toxicities. One specific transformation is As biotic volatilization which is coupled with As biomethylation and has been scarcely studied due to inherent sampling issues. Arsenic methylation/volatilization is also linked with methanogenesis and occurs in anaerobic environments. In China, rice straw and animal manure are very often used to produce biogas and both can contain high amounts of As, especially if the rice is grown in areas with heavy mining or smelting industries and if Roxarsone is fed to the animals. Roxarsone is an As-containing drug which is widely used in China to control coccidian intestinal parasites, to improve feed efficiency and to promote rapid growth. Previous work has shown that this compound degrades to inorganic As under anaerobic conditions. In this study the focus is on biotic transformations of As in small microcosms designed as biogas digester models (BDMs) using recently validated As traps, thus, enabling direct quantification and identification of volatile As species. It is shown that although there was a loss of soluble As in the BDMs, their conditions favored biomethylation. All reactors produced volatile As, especially the monomethylarsonic acid spiked ones with 413 ± 148 ng As (mean ± SD, n = 3) which suggest that the first methylation step, from inorganic As, is a limiting factor. The most abundant species was trimethylarsine, but the toxic arsine was present in the

Factor Structure in Commodity Futures Return and Volatility

DEFF Research Database (Denmark)

Christoffersen, Peter; Lunde, Asger; Olesen, Kasper Vinther

Using data on more than 750 million futures trades during 2004-2013, we analyze eight stylized facts of commodity price and volatility dynamics in the post financialization period. We pay particular attention to the factor structure in returns and volatility and to commodity market integration...... with the equity market. We find evidence of a factor structure in daily commodity futures returns. However, the factor structure in daily commodity futures volatility is even stronger than in returns. When computing model-free realized commodity betas with the stock market we find that they were high during 2008......-2010 but have since returned to the pre-crisis level close to zero. The common factor in commodity volatility is nevertheless clearly related to stock market volatility. We conclude that, while commodity markets appear to again be segmented from the equity market when only returns are considered, commodity...

Hammerstein system represention of financial volatility processes

Science.gov (United States)

Capobianco, E.

2002-05-01

We show new modeling aspects of stock return volatility processes, by first representing them through Hammerstein Systems, and by then approximating the observed and transformed dynamics with wavelet-based atomic dictionaries. We thus propose an hybrid statistical methodology for volatility approximation and non-parametric estimation, and aim to use the information embedded in a bank of volatility sources obtained by decomposing the observed signal with multiresolution techniques. Scale dependent information refers both to market activity inherent to different temporally aggregated trading horizons, and to a variable degree of sparsity in representing the signal. A decomposition of the expansion coefficients in least dependent coordinates is then implemented through Independent Component Analysis. Based on the described steps, the features of volatility can be more effectively detected through global and greedy algorithms.

Large deviations and stochastic volatility with jumps: asymptotic implied volatility for affine models

OpenAIRE

Antoine Jacquier; Martin Keller-Ressel; Aleksandar Mijatovic

2011-01-01

Let $\\sigma_t(x)$ denote the implied volatility at maturity $t$ for a strike $K=S_0 e^{xt}$, where $x\\in\\bbR$ and $S_0$ is the current value of the underlying. We show that $\\sigma_t(x)$ has a uniform (in $x$) limit as maturity $t$ tends to infinity, given by the formula $\\sigma_\\infty(x)=\\sqrt{2}(h^*(x)^{1/2}+(h^*(x)-x)^{1/2})$, for $x$ in some compact neighbourhood of zero in the class of affine stochastic volatility models. The function $h^*$ is the convex dual of the limiting cumulant gen...

A Fractionally Integrated Wishart Stochastic Volatility Model

NARCIS (Netherlands)

M. Asai (Manabu); M.J. McAleer (Michael)

2013-01-01

textabstractThere has recently been growing interest in modeling and estimating alternative continuous time multivariate stochastic volatility models. We propose a continuous time fractionally integrated Wishart stochastic volatility (FIWSV) process. We derive the conditional Laplace transform of

The volatility of stock market prices.

Science.gov (United States)

Shiller, R J

1987-01-02

If the volatility of stock market prices is to be understood in terms of the efficient markets hypothesis, then there should be evidence that true investment value changes through time sufficiently to justify the price changes. Three indicators of change in true investment value of the aggregate stock market in the United States from 1871 to 1986 are considered: changes in dividends, in real interest rates, and in a direct measure of intertemporal marginal rates of substitution. Although there are some ambiguities in interpreting the evidence, dividend changes appear to contribute very little toward justifying the observed historical volatility of stock prices. The other indicators contribute some, but still most of the volatility of stock market prices appears unexplained.

Can Equity Volatility Explain the Global Loan Pricing Puzzle?

OpenAIRE

Lewis Gaul; Pinar Uysal

2013-01-01

This paper examines whether unobservable differences in firm volatility are responsible for the global loan pricing puzzle, which is the observation that corporate loan interest rates appear to be lower in Europe than in the United States. We analyze whether equity volatility, an error prone measure of firm volatility, can explain this difference in loan spreads. We show that using equity volatility in OLS regressions will result in biased and inconsistent estimates of the difference in U.S. ...

Stock Market Volatility: Examining North America, Europe and Asia

OpenAIRE

Gamini Premaratne; Lakshmi Bala

2004-01-01

An understanding of volatility in stock markets is important for determining the cost of capital and for assessing investment and leverage decisions as volatility is synonymous with risk. Substantial changes in volatility of financial markets are capable of having significant negative effects on risk averse investors. Using daily returns from 1992 to 2002, we investigate volatility co-movement between the Singapore stock market and the markets of US, UK, Hong Kong and Japan. In order to gauge...

A search for losses of chromium and other trace elements during lyophilization of human liver tissue

International Nuclear Information System (INIS)

Goeij, J.J.M. de; Volkers, K.J.; Tjioe, P.S.

1979-01-01

Human liver tissues were investigated for possible trace-element losses during lyophilization by comparison of concentrations of lyophilized and untreated (wet) samples. When destructive neutron activation analysis (n.a.a.) was used, no significant losses were observed for As, Br, Cd, Co, Cr, Cu, Fe, Hg, Mo, Sb, Se, and Zn. The advantages of n.a.a. over radio-tracer techniques for studies of trace-element volatility are discussed. (Auth.)

Multiscaling and clustering of volatility

Science.gov (United States)

Pasquini, Michele; Serva, Maurizio

1999-07-01

The dynamics of prices in stock markets has been studied intensively both experimentally (data analysis) and theoretically (models). Nevertheless, while the distribution of returns of the most important indices is known to be a truncated Lévy, the behaviour of volatility correlations is still poorly understood. What is well known is that absolute returns have memory on a long time range, this phenomenon is known in financial literature as clustering of volatility. In this paper we show that volatility correlations are power laws with a non-unique scaling exponent. This kind of multiscale phenomenology is known to be relevant in fully developed turbulence and in disordered systems and it is pointed out here for the first time for a financial series. In our study we consider the New York Stock Exchange (NYSE) daily index, from January 1966 to June 1998, for a total of 8180 working days.

Volatile compounds in meat and meat products

Directory of Open Access Journals (Sweden)

Monika KOSOWSKA

Full Text Available Abstract Meaty flavor is composed of a few hundreds of volatile compounds, only minor part of which are responsible for the characteristic odor. It is developed as a result of multi-directional reactions proceeding between non-volatile precursors contained in raw meat under the influence of temperature. The volatile compounds are generated upon: Maillard reactions, lipid oxidation, interactions between Maillard reaction products and lipid oxidation products as well as upon thiamine degradation. The developed flavor is determined by many factors associated with: raw material (breed, sex, diet and age of animal, conditions and process of slaughter, duration and conditions of meat storage, type of muscle, additives applied and the course of the technological process. The objective of this review article is to draw attention to the issue of volatile compounds characteristic for meat products and factors that affect their synthesis.

Does Interest rate Exposure explain the Low-Volatility Anomaly?

NARCIS (Netherlands)

Driessen, Joost; Kuiper, Ivo; Beilo, R.

We show that part of the outperformance of low-volatility stocks can be explained by a premium for interest rate exposure. Low-volatility stock portfolios have negative exposure to interest rates, whereas the more volatile stocks have positive exposure. Incorporating an interest rate premium

Oil prices and financial stress: A volatility spillover analysis

International Nuclear Information System (INIS)

Nazlioglu, Saban; Soytas, Ugur; Gupta, Rangan

2015-01-01

This paper examines whether there is a volatility transmission between oil prices and financial stress by means of the volatility spillover test. We employ WTI crude oil prices and Cleveland financial stress index for the period 1991–2014 and divide the sample into pre-crisis, in-crisis, and post-crisis periods due to the downward trend in oil price in 2008. The volatility model estimations indicate that oil prices and financial stress index are dominated by long-run volatility. The volatility spillover causality test supports evidence on risk transfer from oil prices to financial stress before the crisis and from financial stress to oil prices after the crisis. The impulse response analysis shows that the volatility transmission pattern has similar dynamics before and after the crisis and is characterized by higher and long-lived effects during the crisis. Our results have implications for both policy makers and investors, and for future work. -- Highlights: •Volatility spillover between oil prices and financial stress index is examined. •Analysis is conducted for sub-periods: pre-crisis, in-crisis, and post-crisis •Oil prices spill on financial stress before the crisis, but spillover reversed after the crisis. •Volatility transmission pattern has similar dynamics before and after the crisis. •Implications for investors and policy makers are discussed

Herbivory by a Phloem-feeding insect inhibits floral volatile production.

Science.gov (United States)

Pareja, Martin; Qvarfordt, Erika; Webster, Ben; Mayon, Patrick; Pickett, John; Birkett, Michael; Glinwood, Robert

2012-01-01

There is extensive knowledge on the effects of insect herbivory on volatile emission from vegetative tissue, but little is known about its impact on floral volatiles. We show that herbivory by phloem-feeding aphids inhibits floral volatile emission in white mustard Sinapis alba measured by gas chromatographic analysis of headspace volatiles. The effect of the Brassica specialist aphid Lipaphis erysimi was stronger than the generalist aphid Myzus persicae and feeding by chewing larvae of the moth Plutella xylostella caused no reduction in floral volatile emission. Field observations showed no effect of L. erysimi-mediated floral volatile emission on the total number of flower visits by pollinators. Olfactory bioassays suggested that although two aphid natural enemies could detect aphid inhibition of floral volatiles, their olfactory orientation to infested plants was not disrupted. This is the first demonstration that phloem-feeding herbivory can affect floral volatile emission, and that the outcome of interaction between herbivory and floral chemistry may differ depending on the herbivore's feeding mode and degree of specialisation. The findings provide new insights into interactions between insect herbivores and plant chemistry.

Characterisation of selected volatile organic compounds in ...

African Journals Online (AJOL)

GCMS), was used to identify volatile compounds at three different temperatures. Fifty volatile compounds, inclusive of 14 acids, 14 alcohols, and 22 esters were identified and quantified in the two brands of indigenous banana beer samples. Only 12 ...

Volatility of an Indian stock market: A random matrix approach

International Nuclear Information System (INIS)

Kulkarni, V.; Deo, N.

2006-07-01

We examine volatility of an Indian stock market in terms of aspects like participation, synchronization of stocks and quantification of volatility using the random matrix approach. Volatility pattern of the market is found using the BSE index for the three-year period 2000- 2002. Random matrix analysis is carried out using daily returns of 70 stocks for several time windows of 85 days in 2001 to (i) do a brief comparative analysis with statistics of eigenvalues and eigenvectors of the matrix C of correlations between price fluctuations, in time regimes of different volatilities. While a bulk of eigenvalues falls within RMT bounds in all the time periods, we see that the largest (deviating) eigenvalue correlates well with the volatility of the index, the corresponding eigenvector clearly shows a shift in the distribution of its components from volatile to less volatile periods and verifies the qualitative association between participation and volatility (ii) observe that the Inverse participation ratio for the last eigenvector is sensitive to market fluctuations (the two quantities are observed to anti correlate significantly) (iii) set up a variability index, V whose temporal evolution is found to be significantly correlated with the volatility of the overall market index. MIRAMAR (author)

The memory of volatility

Directory of Open Access Journals (Sweden)

Kai R. Wenger

2018-03-01

Full Text Available The focus of the volatility literature on forecasting and the predominance of theconceptually simpler HAR model over long memory stochastic volatility models has led to the factthat the actual degree of memory estimates has rarely been considered. Estimates in the literaturerange roughly between 0.4 and 0.6 - that is from the higher stationary to the lower non-stationaryregion. This difference, however, has important practical implications - such as the existence or nonexistenceof the fourth moment of the return distribution. Inference on the memory order is complicatedby the presence of measurement error in realized volatility and the potential of spurious long memory.In this paper we provide a comprehensive analysis of the memory in variances of international stockindices and exchange rates. On the one hand, we find that the variance of exchange rates is subject tospurious long memory and the true memory parameter is in the higher stationary range. Stock indexvariances, on the other hand, are free of low frequency contaminations and the memory is in the lowernon-stationary range. These results are obtained using state of the art local Whittle methods that allowconsistent estimation in presence of perturbations or low frequency contaminations.

Production and properties of the heaviest elements. Status and perspectives

International Nuclear Information System (INIS)

Backe, H.; Hebberger, F.P.; Sewtz, M.; Turler, A.

2007-01-01

This article reviews the following topics which were discussed at the Workshop on the Atomic Properties of the Heaviest Elements held from September 25-27, 2006 in Chiemsee, Germany: (i) the recent progress in the production of the heaviest elements, the investigation of their nuclear structure, and prospects for direct mass measurements in Penning traps; (ii) recent studies of their chemical properties with the aid of volatile species and single-atom aqueous-phase chemistry; (iii) the current status and future prospects for the investigation of atomic and ionic properties such as optical spectroscopy in gas cells and ion traps, including fully relativistic calculations of the atomic level structure with predictions for the element nobelium; and (iv) ionic charge radii measurements in buffer gas filled drift cells, and ion chemical reactions in the gas phase. (authors)

Volatile organic carbon/air separation test using gas membranes

International Nuclear Information System (INIS)

King, C.V.; Kaschemekat, J.

1993-08-01

An estimated 900 metric tons of carbon tetrachloride were discharged to soil columns during the Plutonium Finishing Plant Operations at the Hanford Site. The largest percentage of this volatile organic compound was found in the vadose region of the 200 West Area. Using a Vacuum Extraction System, the volatile organic compound was drawn from the soil in an air mixture at a concentration of about 1,000 parts per million. The volatile organic compounds were absorbed from the air stream using granulated activated carbon canisters. A gas membrane separation system, developed by Membrane Technology and Research, Inc., was tested at the Vacuum Extraction System site to determine if the volatile organic compound load on the granulated activated carbon could be reduced. The Vacuum Extraction System condensed most of the volatile organic compound into liquid carbon tetrachloride and vented the residual gas stream into the granulated activated carbon. This system reduced the cost of operation about $5/kilogram of volatile organic compound removed

Changing volatility of U.S. annual tornado reports

Science.gov (United States)

Tippett, Michael K.

2014-10-01

United States (U.S.) tornado activity results in substantial loss of life and property damage each year. A simple measure of the U.S. tornado climatology is the average number of tornadoes per year. However, even this statistic is elusive because of nonstationary behavior due in large part to changes in reporting practices. Differencing of the annual report data results in a quantity without mean trends and whose standard deviation we denote as volatility, since it is an indication of the likely year-to-year variation in the number of tornadoes reported. While volatility changes detected prior to 2000 can be associated with known reporting practice changes, an increase in volatility in the 2000s across intensity levels cannot. A volatility increase is also seen in a tornado environment index which measures the favorability of atmospheric conditions to tornado activity, providing evidence that the recent increase in tornado report volatility is related to the physical environment.

Mutual fund volatility timing and management fees

NARCIS (Netherlands)

Giambona, E.; Golec, J.

2009-01-01

This paper shows that compensation incentives partly drive fund managers’ market volatility timing strategies. Larger incentive management fees lead to less counter-cyclical or more pro-cyclical volatility timing. But fund styles or aggregate fund flows could also account for this relation;

Volatility jumps and their economic determinants

DEFF Research Database (Denmark)

Caporin, Massimiliano; Rossi, Eduardo; Santucci de Magistris, Paolo

that there is a positive probability of jumps in volatility. A common factor in the volatility jumps is shown to be related to a set of financial covariates (such as variance risk premium, S&P500 volume, credit-default swap, and federal fund rates). The credit-default swap on US banks and variance risk premium have...... predictive power on expected jump moves, thus confirming the common interpretation that sudden and large increases in equity volatility can be anticipated by credit deterioration of the US bank sector as well as changes in the market expectations of future risks. Finally, the model is extended to incorporate...... the credit-default swap and the variance risk premium in the dynamics of the jump size and intensity....

Volatilization of gasoline from soil

International Nuclear Information System (INIS)

Arthus, P.

1993-05-01

Gasoline contaminated soil threatens water resources and air quality. The extent of the threat depends on gasoline behavior in soil, which is affected by various mechanisms such as volatilization. To quantify volatilization, gasoline spills were simulated in the laboratory using a synthetic gasoline and three dry soils. Total gasoline and individual gasoline compound concentrations in soil were monitored as a function of depth and time. The time to reduce overall gasoline concentration in coarse sand, sandy loam, and silt loam to 40% of initial concentration, averaged between surface and a 200-mm depth, ranged from 0.25 d to 10 d. A wicking phenomenon which contributed to gasoline flux toward the atmosphere was indicated by behavior of a low-volatility gasoline compound. Based on separate wicking experiments, this bulk immiscible movement was estimated at an upward velocity of 0.09 m/d for Delhi sandy loam and 0.05 m/d for Elora silt loam. 70 refs., 24 figs., 34 tabs

Stock price dynamics and option valuations under volatility feedback effect

Science.gov (United States)

Kanniainen, Juho; Piché, Robert

2013-02-01

According to the volatility feedback effect, an unexpected increase in squared volatility leads to an immediate decline in the price-dividend ratio. In this paper, we consider the properties of stock price dynamics and option valuations under the volatility feedback effect by modeling the joint dynamics of stock price, dividends, and volatility in continuous time. Most importantly, our model predicts the negative effect of an increase in squared return volatility on the value of deep-in-the-money call options and, furthermore, attempts to explain the volatility puzzle. We theoretically demonstrate a mechanism by which the market price of diffusion return risk, or an equity risk-premium, affects option prices and empirically illustrate how to identify that mechanism using forward-looking information on option contracts. Our theoretical and empirical results support the relevance of the volatility feedback effect. Overall, the results indicate that the prevailing practice of ignoring the time-varying dividend yield in option pricing can lead to oversimplification of the stock market dynamics.

Hedging electricity price volatility using nuclear power

International Nuclear Information System (INIS)

Mari, Carlo

2014-01-01

Highlights: • Nuclear power is an important asset to reduce the volatility of electricity prices. • Unpredictability of fossil fuels and carbon prices makes power prices very volatile. • The dynamics of fossil fuels and carbon prices is described by Brownian motions. • LCOE values, volatilities and correlations are obtained via Monte Carlo simulations. • Optimal portfolios of generating technologies are get using a mean–variance approach. - Abstract: The analysis presented in this paper aims to put in some evidence the role of nuclear power as hedging asset against the volatility of electricity prices. The unpredictability of natural gas and coal market prices as well as the uncertainty in environmental policies may affect power generating costs, thus enhancing volatility in electricity market prices. The nuclear option, allowing to generate electricity without carbon emissions, offers the possibility to reduce the volatility of electricity prices through optimal diversification of power generating technologies. This paper provides a methodological scheme to plan well diversified “portfolios” of generating capacity that minimize the electricity price risk induced by random movements of fossil fuels market prices and by unpredictable fluctuations of carbon credits prices. The analysis is developed within a stochastic environment in which the dynamics of fuel prices as well as the dynamics of carbon credits prices is assumed to evolve in time according to well defined Brownian processes. Starting from market data and using Monte Carlo techniques to simulate generating cost values, the hedging argument is developed by selecting optimal portfolio of power generating technologies using a mean–variance approach

Herbivory by a Phloem-feeding insect inhibits floral volatile production.

Directory of Open Access Journals (Sweden)

Martin Pareja

Full Text Available There is extensive knowledge on the effects of insect herbivory on volatile emission from vegetative tissue, but little is known about its impact on floral volatiles. We show that herbivory by phloem-feeding aphids inhibits floral volatile emission in white mustard Sinapis alba measured by gas chromatographic analysis of headspace volatiles. The effect of the Brassica specialist aphid Lipaphis erysimi was stronger than the generalist aphid Myzus persicae and feeding by chewing larvae of the moth Plutella xylostella caused no reduction in floral volatile emission. Field observations showed no effect of L. erysimi-mediated floral volatile emission on the total number of flower visits by pollinators. Olfactory bioassays suggested that although two aphid natural enemies could detect aphid inhibition of floral volatiles, their olfactory orientation to infested plants was not disrupted. This is the first demonstration that phloem-feeding herbivory can affect floral volatile emission, and that the outcome of interaction between herbivory and floral chemistry may differ depending on the herbivore's feeding mode and degree of specialisation. The findings provide new insights into interactions between insect herbivores and plant chemistry.

The volatile compound BinBase mass spectral database.

Science.gov (United States)

Skogerson, Kirsten; Wohlgemuth, Gert; Barupal, Dinesh K; Fiehn, Oliver

2011-08-04

Volatile compounds comprise diverse chemical groups with wide-ranging sources and functions. These compounds originate from major pathways of secondary metabolism in many organisms and play essential roles in chemical ecology in both plant and animal kingdoms. In past decades, sampling methods and instrumentation for the analysis of complex volatile mixtures have improved; however, design and implementation of database tools to process and store the complex datasets have lagged behind. The volatile compound BinBase (vocBinBase) is an automated peak annotation and database system developed for the analysis of GC-TOF-MS data derived from complex volatile mixtures. The vocBinBase DB is an extension of the previously reported metabolite BinBase software developed to track and identify derivatized metabolites. The BinBase algorithm uses deconvoluted spectra and peak metadata (retention index, unique ion, spectral similarity, peak signal-to-noise ratio, and peak purity) from the Leco ChromaTOF software, and annotates peaks using a multi-tiered filtering system with stringent thresholds. The vocBinBase algorithm assigns the identity of compounds existing in the database. Volatile compound assignments are supported by the Adams mass spectral-retention index library, which contains over 2,000 plant-derived volatile compounds. Novel molecules that are not found within vocBinBase are automatically added using strict mass spectral and experimental criteria. Users obtain fully annotated data sheets with quantitative information for all volatile compounds for studies that may consist of thousands of chromatograms. The vocBinBase database may also be queried across different studies, comprising currently 1,537 unique mass spectra generated from 1.7 million deconvoluted mass spectra of 3,435 samples (18 species). Mass spectra with retention indices and volatile profiles are available as free download under the CC-BY agreement (http://vocbinbase.fiehnlab.ucdavis.edu). The Bin

The volatile compound BinBase mass spectral database

Directory of Open Access Journals (Sweden)

Barupal Dinesh K

2011-08-01

Full Text Available Abstract Background Volatile compounds comprise diverse chemical groups with wide-ranging sources and functions. These compounds originate from major pathways of secondary metabolism in many organisms and play essential roles in chemical ecology in both plant and animal kingdoms. In past decades, sampling methods and instrumentation for the analysis of complex volatile mixtures have improved; however, design and implementation of database tools to process and store the complex datasets have lagged behind. Description The volatile compound BinBase (vocBinBase is an automated peak annotation and database system developed for the analysis of GC-TOF-MS data derived from complex volatile mixtures. The vocBinBase DB is an extension of the previously reported metabolite BinBase software developed to track and identify derivatized metabolites. The BinBase algorithm uses deconvoluted spectra and peak metadata (retention index, unique ion, spectral similarity, peak signal-to-noise ratio, and peak purity from the Leco ChromaTOF software, and annotates peaks using a multi-tiered filtering system with stringent thresholds. The vocBinBase algorithm assigns the identity of compounds existing in the database. Volatile compound assignments are supported by the Adams mass spectral-retention index library, which contains over 2,000 plant-derived volatile compounds. Novel molecules that are not found within vocBinBase are automatically added using strict mass spectral and experimental criteria. Users obtain fully annotated data sheets with quantitative information for all volatile compounds for studies that may consist of thousands of chromatograms. The vocBinBase database may also be queried across different studies, comprising currently 1,537 unique mass spectra generated from 1.7 million deconvoluted mass spectra of 3,435 samples (18 species. Mass spectra with retention indices and volatile profiles are available as free download under the CC-BY agreement (http

Investigations concerning the exchange of iodine from non-volatile organic iodine compounds

International Nuclear Information System (INIS)

Psarros, N.; Duschner, H.; Molzahn, D.; Schmidt, L.; Heise, S.; Jungclas, H.; Brandt, R.; Patzelt, P.

1990-10-01

The iodine produced by nuclear fission is removed during the reprocessing of exhausted nuclear fuel elements by desorption achieving good decontamination factors. Nevertheless the further optimization of the process requires detailed information about the iodine speciation during fuel reprocessing, and about possible reactions. For the study of decomposition reactions of iodo-alcanes, which are built up during the fuel recycling process, we developed a method for the synthesis of labelled iodo-dodecane, which was used as tracer. In order to identify the iodo species in the organic phase of the reprocessing cycle we applied plasma desorption time-of-flight mass spectroscopy. The problem of the volatility of the iodo-compounds in the ultra vacuum of the mass spectrometer was overcome by derivatization of the iodo-alcanes with dithizon, which yielded non-volatile ionic alcyltetrazolium iodides. Beta-spectrometric analysis of the exhaust condensates collected from the organic phase of the WAK reprocessing cycle revealed beside iodine-129 the existence of a low-energetic beta emitter, which has yet to be identified. A literature survey on the topic was also performed. (orig.) With 42 refs., 9 figs [de

Radiation sterilization and volatile matter used for medical devices touching to blood

Energy Technology Data Exchange (ETDEWEB)

Nakamura, Akitada; Sato, Michio; Igarashi, Yoshiaki; Yagami, Takeshi [National Inst. of Health Sciences, Tokyo (Japan); Yoshii, Fumio

1998-02-01

In this study, it was conducted by using chemical analysis and cell toxic test if any volatile matter actually on radiation, if any matter could be detected when its generating, if it stayed to a safe volume range, and so forth. Objective materials of this study focus the elements used for medical devices always touching blood having large effect on human bodies. In this fiscal year, because of many cases of sterilization after filling water and necessary gas-liquid equilibrium for quantitative method using a head space when actually using the materials for dialyzer, irradiation was conducted after filling water into the material, comparison of gas volume and evaluation of safety with those of conventional experiments. As a result, by {gamma}-ray irradiation, various matters are formed, and some volatile matters less than some ng level in present volume could be detected. However, from a standpoint of safety data and forming volume of the cell toxic test results, there were no matter anxious to safety. Furthermore, the present dialyzer and others are washed before using chemically, and its safety seems to be fully held. (G.K.)

Radiation sterilization and volatile matter used for medical devices touching to blood

International Nuclear Information System (INIS)

Nakamura, Akitada; Sato, Michio; Igarashi, Yoshiaki; Yagami, Takeshi; Yoshii, Fumio

1998-01-01

In this study, it was conducted by using chemical analysis and cell toxic test if any volatile matter actually on radiation, if any matter could be detected when its generating, if it stayed to a safe volume range, and so forth. Objective materials of this study focus the elements used for medical devices always touching blood having large effect on human bodies. In this fiscal year, because of many cases of sterilization after filling water and necessary gas-liquid equilibrium for quantitative method using a head space when actually using the materials for dialyzer, irradiation was conducted after filling water into the material, comparison of gas volume and evaluation of safety with those of conventional experiments. As a result, by γ-ray irradiation, various matters are formed, and some volatile matters less than some ng level in present volume could be detected. However, from a standpoint of safety data and forming volume of the cell toxic test results, there were no matter anxious to safety. Furthermore, the present dialyzer and others are washed before using chemically, and its safety seems to be fully held. (G.K.)

Capital mobility and macroeconomic volatility: evidence from Greece

OpenAIRE

Anastasios, Pappas

2010-01-01

This paper focuses on the impact of full capital account liberalization on macroeconomic volatility in Greece. According to the standard neoclassical model, such liberalization is to be desired because, among other advantages, it may reduce macroeconomic volatility. The link between macroeconomic volatility and capital account openness in the Greek economy is investigated by applying a simple three-month rolling standard deviation of real GDP growth and real final (total) consumption growth c...

Chemically-resolved volatility measurements of organic aerosol fom different sources.

Science.gov (United States)

Huffman, J A; Docherty, K S; Mohr, C; Cubison, M J; Ulbrich, I M; Ziemann, P J; Onasch, T B; Jimenez, J L

2009-07-15

A newly modified fast temperature-stepping thermodenuder (TD) was coupled to a High Resolution Time-of-Flight Aerosol Mass Spectrometer for rapid determination of chemically resolved volatility of organic aerosols (OA) emitted from individual sources. The TD-AMS system was used to characterize primary OA (POA) from biomass burning, trash burning surrogates (paper and plastic), and meat cooking as well as chamber-generated secondary OA (SOA) from alpha-pinene and gasoline vapor. Almost all atmospheric models represent POA as nonvolatile, with no allowance for evaporation upon heating or dilution, or condensation upon cooling. Our results indicate that all OAs observed show semivolatile behavior and that most POAs characterized here were at least as volatile as SOA measured in urban environments. Biomass-burning OA (BBOA) exhibited a wide range of volatilities, but more often showed volatility similar to urban OA. Paper-burning resembles some types of BBOA because of its relatively high volatility and intermediate atomic oxygen-to-carbon (O/C) ratio, while meat-cooking OAs (MCOA) have consistently lower volatility than ambient OA. Chamber-generated SOA under the relatively high concentrations used intraditional experiments was significantly more volatile than urban SOA, challenging extrapolation of traditional laboratory volatility measurements to the atmosphere. Most OAs sampled show increasing O/C ratio and decreasing H/C (hydrogen-to-carbon) ratio with temperature, further indicating that more oxygenated OA components are typically less volatile. Future experiments should systematically explore a wider range of mass concentrations to more fully characterize the volatility distributions of these OAs.

The electoral volatility in Serbia: Comparison and explanation

Directory of Open Access Journals (Sweden)

Antonić Slobodan

2005-01-01

Full Text Available In the first part of this article the electoral volatility in Serbia is compared to those in other countries. The Pedersen’s Index for Serbia from 1990 to 2003 is 19.6, which means there is high electoral volatility. However, compared to other countries in transition, the volatility in Serbia turns out to be average. Therefore, I conclude that the causes of high volatility in Serbia could not be specific, but similar to the reasons in other post-communist countries. In the second part, I analyze the general reasons for the increased volatility. They are: the large number of parties participating in political life, and insufficient time, passed since the restoration of multiparty elections, for the voters to become more seriously tied to the parties, or for the parties to become socially anchored. In the third part, I analyze the particular causes of the increased volatility that are specific, first of all, for Serbia and other post-communist societies. They are: the fast change of social structure, which leads to a general feeling of social and personal insecurity, as well as the widespread dissatisfaction with the gap between the increase of social inequality and the number of social winners, which increases the frequency of protest voting. At the end, I conclude that, in time, some of these factors would probably lose their significance, so the volatility in Serbia would decrease. However, a noticeable decrease could hardly be expected during the next ten years at least.

Modelling oil price volatility with structural breaks

International Nuclear Information System (INIS)

Salisu, Afees A.; Fasanya, Ismail O.

2013-01-01

In this paper, we provide two main innovations: (i) we analyze oil prices of two prominent markets namely West Texas Intermediate (WTI) and Brent using the two recently developed tests by Narayan and Popp (2010) and Liu and Narayan, 2010 both of which allow for two structural breaks in the data series; and (ii) the latter method is modified to include both symmetric and asymmetric volatility models. We identify two structural breaks that occur in 1990 and 2008 which coincidentally correspond to the Iraqi/Kuwait conflict and the global financial crisis, respectively. We find evidence of persistence and leverage effects in the oil price volatility. While further extensions can be pursued, the consideration of asymmetric effects as well as structural breaks should not be jettisoned when modelling oil price volatility. - Highlights: ► We analyze oil price volatility using NP (2010) and LN (2010) tests. ► We modify the LN (2010) to account for leverage effects in oil price. ► We find two structural breaks that reflect major global crisis in the oil market. ► We find evidence of persistence and leverage effects in oil price volatility. ► Leverage effects and structural breaks are fundamental in oil price modelling.

Multifractal in Volatility of Family Business Stocks Listed on Casablanca STOCK Exchange

Science.gov (United States)

Lahmiri, Salim

In this paper, we check for existence of multifractal in volatility of Moroccan family business stock returns and in volatility of Casablanca market index returns based on multifractal detrended fluctuation analysis (MF-DFA) technique. Empirical results show strong evidence of multifractal characteristics in volatility series of both family business stocks and market index. In addition, it is found that small variations in volatility of family business stocks are persistent, whilst small variations in volatility of market index are anti-persistent. However, large variations in family business volatility and market index volatility are both anti-persistent. Furthermore, multifractal spectral analysis based results show strong evidence that volatility in Moroccan family business companies exhibits more multifractality than volatility in the main stock market. These results may provide insightful information for risk managers concerned with family business stocks.

Option pricing under stochastic volatility: the exponential Ornstein–Uhlenbeck model

International Nuclear Information System (INIS)

Perelló, Josep; Masoliver, Jaume; Sircar, Ronnie

2008-01-01

We study the pricing problem for a European call option when the volatility of the underlying asset is random and follows the exponential Ornstein–Uhlenbeck model. The random diffusion model proposed is a two-dimensional market process that takes a log-Brownian motion to describe price dynamics and an Ornstein–Uhlenbeck subordinated process describing the randomness of the log-volatility. We derive an approximate option price that is valid when (i) the fluctuations of the volatility are larger than its normal level, (ii) the volatility presents a slow driving force, toward its normal level and, finally, (iii) the market price of risk is a linear function of the log-volatility. We study the resulting European call price and its implied volatility for a range of parameters consistent with daily Dow Jones index data

Some recent developments in stochastic volatility modelling

DEFF Research Database (Denmark)

Barndorff-Nielsen, Ole Eiler; Nicolato, Elisa; Shephard, N.

2002-01-01

This paper reviews and puts in context some of our recent work on stochastic volatility (SV) modelling for financial economics. Here our main focus is on: (i) the relationship between subordination and SV, (ii) OU based volatility models, (iii) exact option pricing, (iv) realized power variation...

Volatility transmission and patterns in Bund futures

NARCIS (Netherlands)

Ph.H.B.F. Franses (Philip Hans); R. van Ieperen; A.J. Menkveld (Bert); P. Kofman (Paul); M.P.E. Martens (Martin)

1997-01-01

textabstractWe analyze intraday volatility behavior for the Bund futures contract that is traded simultaneously at two competing exchanges. We investigate the transmission of volatility between the exchanges. We find that the lead/lag relations are restricted to a few minutes and do not reveal a

Order flow and volatility: An empirical investigation

NARCIS (Netherlands)

Opschoor, A.; Taylor, N.; van der Wel, M.; van Dijk, D.

2014-01-01

We study the relationship between order flow and volatility. To this end we develop a comprehensive framework that simultaneously controls for the effects of macro announcements and order flow on prices and the effect of macro announcements on volatility. Using high-frequency 30-year U.S. Treasury

The Cosmochemistry of Pluto: A Primordial Origin of Volatiles?

Science.gov (United States)

Glein, C. R.; Waite, J. H., Jr.

2017-12-01

Pluto is a wonderland of volatiles. Nitrogen, methane, and carbon monoxide are the principal volatiles that maintain its tenuous atmosphere, and they have also created a mesmerizing landscape of icy geological features, including Pluto's iconic "heart". Recent data, particularly those returned by the New Horizons mission [1-3], allow us to begin testing hypotheses for the cosmochemical origins of these world-shaping species on Pluto. Here, we investigate if Pluto's volatiles could have been accreted in its building blocks. We take both bottom-up and top-down approaches in testing this hypothesis in terms of mass balance. We estimate Pluto's primordial inventory of volatiles by scaling a range of cometary abundances up to the ice mass fraction of Pluto. We also make estimates of the present and lost inventories of volatiles based on surface observations and interpretations, as well as different scenarios of atmospheric photochemistry and escape. We find that, if primordial Pluto resembled a giant comet with respect to volatile abundances, then the initial volatile inventory would have been sufficient to account for the estimated present and lost inventories. This consistency supports a primordial origin for Pluto's volatiles. However, the observed ratio of CO/N2 in Pluto's atmosphere [4] is several orders of magnitude lower than the nominal cometary value. We are currently using phase equilibrium and rate models to explore if volatile layering in Sputnik Planitia, or the destruction of CO in a past or present subsurface ocean of liquid water could explain the apparent depletion of CO on Pluto. References: [1] Moore et al. (2016) Science 351, 1284. [2] Grundy et al. (2016) Science 351, aad9189. [3] Gladstone et al. (2016) Science 351, aad8866. [4] Lellouch et al. (2017) Icarus 286, 289.

21 CFR 573.914 - Salts of volatile fatty acids.

Science.gov (United States)

2010-04-01

... 21 Food and Drugs 6 2010-04-01 2010-04-01 false Salts of volatile fatty acids. 573.914 Section 573... Food Additive Listing § 573.914 Salts of volatile fatty acids. (a) Identity. The food additive is a... contains ammonium or calcium salts of volatile fatty acids and shall conform to the following...

The Role of Implied Volatility in Forecasting Future Realized Volatility and Jumps in Foreign Exchange, Stock and Bond Markets

DEFF Research Database (Denmark)

Christensen, Bent Jesper

We study the forecasting of future realized volatility in the stock, bond, and foreign exchange markets, as well as the continuous sample path and jump components of this, from variables in the information set, including implied volatility backed out from option prices. Recent nonparametric...

Networks of volatility spillovers among stock markets

Science.gov (United States)

Baumöhl, Eduard; Kočenda, Evžen; Lyócsa, Štefan; Výrost, Tomáš

2018-01-01

In our network analysis of 40 developed, emerging and frontier stock markets during the 2006-2014 period, we describe and model volatility spillovers during both the global financial crisis and tranquil periods. The resulting market interconnectedness is depicted by fitting a spatial model incorporating several exogenous characteristics. We document the presence of significant temporal proximity effects between markets and somewhat weaker temporal effects with regard to the US equity market - volatility spillovers decrease when markets are characterized by greater temporal proximity. Volatility spillovers also present a high degree of interconnectedness, which is measured by high spatial autocorrelation. This finding is confirmed by spatial regression models showing that indirect effects are much stronger than direct effects; i.e., market-related changes in 'neighboring' markets (within a network) affect volatility spillovers more than changes in the given market alone, suggesting that spatial effects simply cannot be ignored when modeling stock market relationships. Our results also link spillovers of escalating magnitude with increasing market size, market liquidity and economic openness.

A whiff of death: fatal volatile solvent inhalation abuse.

Science.gov (United States)

Steffee, C H; Davis, G J; Nicol, K K

1996-09-01

Inhalation abuse of volatile solvents, previously known generically as "glue sniffing," is typically pursued by adolescents. A wide range of legal, easily obtained products containing volatile substances are available for abuse. We report two illustrative cases of fatal volatile substance abuse: gasoline sniffing in a 20-year-old man and aerosol propellant gas inhalation (aerosol air freshener) in a 16-year-old girl with underlying reactive airway disease. Although the ratio of deaths to nonfatal inhalation escapades is extremely low, volatile solvent abuse carries the risk of sudden death due to cardiac arrest after a dysrhythmia or vasovagal event, central nervous system respiratory depression, hypoxia and hypercapnia due to the techniques of inhalation, and other mechanisms. Investigation of the patient's substance abuse history, examination of the scene of death, and special toxicologic analyses are critical to identifying volatile substance inhalation abuse as the cause of death because anatomic autopsy findings will typically be nonspecific. Above all, physicians must suspect the diagnosis of volatile substance inhalation abuse, especially in any case of sudden death involving an otherwise healthy young person.

Volatiles from roasted byproducts of the poultry-processing industry.

Science.gov (United States)

Wettasinghe, M; Vasanthan, T; Temelli, F; Swallow, K

2000-08-01

Volatiles of roasted chicken breast muscle and byproducts, such as backbones, breastbones, spent bones, and skin, were investigated. Total volatile concentrations ranged from 2030 ppb in the roasted backbones to 4049 ppb in the roasted skin. The major classes of volatile compounds detected in roasted samples were aldehydes (648-1532 ppb) and alcohols (336-1006 ppb). Nitrogen- and/or sulfur-containing compounds were also detected in appreciable quantities (161-706 ppb) in all samples. For all samples, hexanal and 2-methyl-2-buten-1-ol were dominant among the aldehydes and alcohols, respectively. Among the nitrogen- and sulfur-containing compounds, Maillard reaction products, such as tetrahydropyridazines, piperidines, and thiazoles, were the major contributors to the total volatile content in all samples. The composition of volatiles observed in roasted byproducts was markedly different from that of the roasted breast muscle. Therefore, the blending of the byproducts in appropriate proportions or blending of volatile flavor extracts from different byproducts may be necessary to obtain an aroma that mimics roasted chicken aroma.

Volatility Spillover in Chinese Steel Markets

Science.gov (United States)

Fang, Wen

2018-03-01

This paper examines volatility spillover in Chinese steel markets by comparing spillover effects before and after steel futures market established and finds some interesting change. Volatility spillover method based on multi-GARCH model are proposed. The results show that there is significant proof for spillover effects from B2B electronic market to spot market, and two-way effects between futures and spot market. Market policy planners and practitioners could make decisions according to the master of spillovers. We also find that B2B e-market and futures market can both provide efficient protection against steel price volatility risk, B2B e-market offer a broad-based platform for trading steel commodities over time and space since e-market role in information flow process is dominant.

Light Stable Isotopic Compositions of Enriched Mantle Sources: Resolving the Dehydration Paradox

Science.gov (United States)

Dixon, J. E.; Bindeman, I. N.; Kingsley, R. H.

2017-12-01

An outstanding puzzle in mantle geochemistry has been the origin and evolution of Earth's volatile components. The "dehydration paradox" refers to the following conundrum. Mantle compositions for some enriched mid-ocean ridge (MORB) and ocean island (OIB) basalts basalts require involvement of a mostly dehydrated slab component to explain the trace element ratios and radiogenic isotopic compositions, but a fully hydrated slab component to explain the stable isotopic compositions. Volatile and stable isotopic data on enriched MORB show a diversity of enriched components. Pacific PREMA-type basalts (H2O/Ce = 215 ± 30, δDSMOW = -45 ± 5 ‰) are similar to those in the north Atlantic (H2O/Ce = 220 ± 30; δDSMOW = -30 to -40 ‰). Basalts with EM-type signatures have regionally variable volatile compositions. North Atlantic EM-type basalts are wetter (H2O/Ce = 330 ± 30) and have isotopically heavier hydrogen (δDSMOW = -57 ± 5 ‰) than north Atlantic MORB. South Atlantic EM-type basalts are damp (H2O/Ce = 120 ± 10) with intermediate δDSMOW (-68 ± 2 ‰), similar to dDSMOW for Pacific MORB. North EPR EM-type basalts are dry (H2O/Ce = 110 ± 20) and isotopically light (δDSMOW = -94 ± 3 ‰). Boron and lithium isotopic ratios parallel the trends observed for dDSMOW. A multi-stage metasomatic and melting model accounts for the origin of the enriched components by extending the subduction factory concept down through the mantle transition zone, with slab temperature a key variable. The dehydration paradox is resolved by decoupling of volatiles from lithophile elements, reflecting primary dehydration of the slab followed by secondary rehydration and re-equilibration by fluids derived from subcrustal hydrous phases (e.g., antigorite) in cooler, deeper parts of the slab. The "expanded subduction factory" model includes melting at several key depths, including 1) 180 to 280 km, where EM-type mantle compositions are generated above slabs with average to hot thermal

Volatility

Directory of Open Access Journals (Sweden)

María Sánchez

2016-11-01

Full Text Available The action consists of moving with small kicks a tin of cola refresh -without Brand-from a point of the city up to other one. During the path I avoid bollards, the slope differences between sidewalks, pedestrians, parked motorcycles, etc. Volatility wants to say exactly that the money is getting lost. That the money is losing by gentlemen and by ladies who are neither financial sharks, nor big businessmen… or similarly, but ingenuous people, as you or as me, who walk down the street.

Different methods for volatile sampling in mammals.

Directory of Open Access Journals (Sweden)

Marlen Kücklich

Full Text Available Previous studies showed that olfactory cues are important for mammalian communication. However, many specific compounds that convey information between conspecifics are still unknown. To understand mechanisms and functions of olfactory cues, olfactory signals such as volatile compounds emitted from individuals need to be assessed. Sampling of animals with and without scent glands was typically conducted using cotton swabs rubbed over the skin or fur and analysed by gas chromatography-mass spectrometry (GC-MS. However, this method has various drawbacks, including a high level of contaminations. Thus, we adapted two methods of volatile sampling from other research fields and compared them to sampling with cotton swabs. To do so we assessed the body odor of common marmosets (Callithrix jacchus using cotton swabs, thermal desorption (TD tubes and, alternatively, a mobile GC-MS device containing a thermal desorption trap. Overall, TD tubes comprised most compounds (N = 113, with half of those compounds being volatile (N = 52. The mobile GC-MS captured the fewest compounds (N = 35, of which all were volatile. Cotton swabs contained an intermediate number of compounds (N = 55, but very few volatiles (N = 10. Almost all compounds found with the mobile GC-MS were also captured with TD tubes (94%. Hence, we recommend TD tubes for state of the art sampling of body odor of mammals or other vertebrates, particularly for field studies, as they can be easily transported, stored and analysed with high performance instruments in the lab. Nevertheless, cotton swabs capture compounds which still may contribute to the body odor, e.g. after bacterial fermentation, while profiles from mobile GC-MS include only the most abundant volatiles of the body odor.

Financial sector development, economic volatility and shocks in sub-Saharan Africa

Science.gov (United States)

Ibrahim, Muazu; Alagidede, Paul

2017-10-01

The role of financial sector development in economic volatility has been extensively studied albeit without informative results largely on the failure of extant studies to decompose volatility into its various components. By disaggregating volatility using the spectral approach, this study examines the effect of financial development on volatility components as well as channels through which finance affects volatility in 23 sub-Saharan African countries over the period 1980-2014. Our findings based on the newly developed panel cointegration estimation strategy reveal that while financial development affects business cycle volatility in a non-linear fashion, its effect on long run fluctuation is imaginary. More specifically, well developed financial sectors dampen volatility. Further findings show that while monetary shocks have large magnifying effect on volatility, their effect in the short run is minuscule. The reverse, however, holds for real shocks. The channels of manifestation shows that financial development dampens (magnifies) the effect of real shocks (monetary shocks) on the components of volatility with the dampening effects consistently larger only in the short run. Strengthening financial sector supervision and cross-border oversight may be very crucial in examining the right levels of finance and price stability necessary to falter economic fluctuations.

Does Exchange Rate Volatility Affect Korea's Seaborne Import Volume?

Directory of Open Access Journals (Sweden)

Chang Beom Kim

2017-03-01

Full Text Available This study used monthly data from 2000 to 2015 to analyze the effects of USD/KRW exchange rate volatility on seaborne import volume in Korea. The results of an autoregressive distributed lag (ARDL analysis indicate that USD/KRW exchange rate volatility has a statistically significant negative influence on Korea's seaborne import volume. Moreover, the results of a vector error correction model (VECM analysis found that the USD/KRW exchange rate volatility exhibited short-term unidirectional causality on import volume and real income, and confirmed bidirectional causality between the real effective exchange rate and exchange rate volatility.

A supply and demand based volatility model for energy prices

International Nuclear Information System (INIS)

Kanamura, Takashi

2009-01-01

This paper proposes a new volatility model for energy prices using the supply-demand relationship, which we call a supply and demand based volatility model. We show that the supply curve shape in the model determines the characteristics of the volatility in energy prices. It is found that the inverse Box-Cox transformation supply curve reflecting energy markets causes the inverse leverage effect, i.e., positive correlation between energy prices and volatility. The model is also used to show that an existing (G)ARCH-M model has the foundations on the supply-demand relationship. Additionally, we conduct the empirical studies analyzing the volatility in the U.S. natural gas prices. (author)

Exchange Rate Volatility and Investment: A Panel Data Cointegration Approach

Directory of Open Access Journals (Sweden)

Ibrahima Amadou DIALLO

2015-05-01

Full Text Available This paper examines the link between real exchange rate volatility and domestic investment by using panel data cointegration techniques. We study the empirical connection between real effective exchange rate volatility and investment for 51 developing countries (23 low-income and 28 middle-income countries. The theoretical relationship between investment and real exchange rate volatility predicts that the effects of exchange rate uncertainty on profits are ambiguous. The empirical results illustrate that real effective exchange rate volatility has a strong negative impact on investment. This outcome is robust in low income and middle income countries, and by using an alternative measurement of exchange rate volatility.

A supply and demand based volatility model for energy prices

Energy Technology Data Exchange (ETDEWEB)

Kanamura, Takashi [J-POWER, 15-1, Ginza 6-Chome, Chuo-ku, Tokyo 104-8165 (Japan)

2009-09-15

This paper proposes a new volatility model for energy prices using the supply-demand relationship, which we call a supply and demand based volatility model. We show that the supply curve shape in the model determines the characteristics of the volatility in energy prices. It is found that the inverse Box-Cox transformation supply curve reflecting energy markets causes the inverse leverage effect, i.e., positive correlation between energy prices and volatility. The model is also used to show that an existing (G)ARCH-M model has the foundations on the supply-demand relationship. Additionally, we conduct the empirical studies analyzing the volatility in the U.S. natural gas prices. (author)

Noble metal abundances in komatiite suites from Alexo, Ontario and Gorgona Island, Colombia

Science.gov (United States)

Brügmann, G. E.; Arndt, N. T.; Hofmann, A. W.; Tobschall, H. J.

1987-08-01

The distribution of the chalcophile and siderophile metals Cu, Ni, Au, Pd, Ir, Os and Ru in an Archaean komatiite flow from Alexo, Ontario and in a Phanerozoic komatiitic suite of Gorgona Island, Colombia, provides new information about the geochemical behaviour of these elements. Copper, Au and Pd behave as incompatible elements during the crystallization of these ultramafic magmas. In contrast, Ni, Ir, Os and Ru concentrations systematically decrease with decreasing MgO contents, a pattern characteristic of compatible elements. These trends are most probably controlled by olivine crystallization, which implies that Ir, Os and Ru are compatible in olivine. Calculated partition coefficients for Ir, Os and Ru between olivine and the melt are about 1.8. Compared to primitive mantle, parental komatiitic liquids are enriched in (incompatible) Cu, Au and Pd and depleted in (compatible) Ir, Os and Ru. Within both Archaean and Phanerozoic komatiites, noble metal ratios such as Au/Pd, Ir/Os, Os/Ru and Ru/Ir and ratios of lithophile and siderophile elements such as Ti/Pd, Ti/Au are constant and similar to primitive mantle values. This implies that Au and Pd are moderately incompatible elements and that there has been no significant fractionation of siderophile and lithophile elements since the Archaean. Platinum-group element abundances of normal MORB are highly variable and always much lower than in komatiites, because MORB magma is saturated with sulfur and a variable but minor amount of sulfide segregated during mantle melting or during the ascent of magma to the surface. Sulfide deposits associated with komatiites display similar chalcophile element patterns to those of komatiites. Noble metal ratios such as Pd/Ir, Au/Ir, Pd/Os and Pd/Ru can be used to determine the composition of the host komatiite at the time of sulfide segregation.

Modeling returns volatility: Realized GARCH incorporating realized risk measure

Science.gov (United States)

Jiang, Wei; Ruan, Qingsong; Li, Jianfeng; Li, Ye

2018-06-01

This study applies realized GARCH models by introducing several risk measures of intraday returns into the measurement equation, to model the daily volatility of E-mini S&P 500 index futures returns. Besides using the conventional realized measures, realized volatility and realized kernel as our benchmarks, we also use generalized realized risk measures, realized absolute deviation, and two realized tail risk measures, realized value-at-risk and realized expected shortfall. The empirical results show that realized GARCH models using the generalized realized risk measures provide better volatility estimation for the in-sample and substantial improvement in volatility forecasting for the out-of-sample. In particular, the realized expected shortfall performs best for all of the alternative realized measures. Our empirical results reveal that future volatility may be more attributable to present losses (risk measures). The results are robust to different sample estimation windows.

Investor attention and FX market volatility

OpenAIRE

Goddard, John; Kita, Arben; Wang, Qingwei

2015-01-01

We study the relationship between investors’ active attention, measured by a Google search volume index (SVI), and the dynamics of currency prices. Investor attention is correlated with the trading activities of large FX market participants. Investor attention comoves with comtemporaneous FX market volatility and predicts subsequent FX market volatility, after controlling for macroeconomic fundamentals. In addition, investor attention is related to the currency risk premium. Our results sugge...

Decomposing European bond and equity volatility

OpenAIRE

Christiansen, Charlotte

2004-01-01

The paper investigates volatility spillover from US and aggregate European asset markets into European national asset markets. A main contribution is that bond and equity volatilities are analyzed simultaneously. A new model belonging to the "volatilityspillover" family is suggested: The conditional variance of e.g. the unexpected German stock return is divided into separate effects from the contemporaneous idiosyncratic variance of US bonds, US stocks, European bonds, European stocks, German...

Implications for behavior of volatile elements during impacts—Zinc and copper systematics in sediments from the Ries impact structure and central European tektites

Science.gov (United States)

Rodovská, Zuzana; Magna, TomáÅ.¡; Žák, Karel; Kato, Chizu; Savage, Paul S.; Moynier, Frédéric; Skála, Roman; Ježek, Josef

2017-10-01

Moldavites are tektites genetically related to the Ries impact structure, located in Central Europe, but the source materials and the processes related to the chemical fractionation of moldavites are not fully constrained. To further understand moldavite genesis, the Cu and Zn abundances and isotope compositions were measured in a suite of tektites from four different substrewn fields (South Bohemia, Moravia, Cheb Basin, Lusatia) and chemically diverse sediments from the surroundings of the Ries impact structure. Moldavites are slightly depleted in Zn ( 10-20%) and distinctly depleted in Cu (>90%) relative to supposed sedimentary precursors. Moreover, the moldavites show a wide range in δ66Zn values between 1.7 and 3.7‰ (relative to JMC 3-0749 Lyon) and δ65Cu values between 1.6 and 12.5‰ (relative to NIST SRM 976) and are thus enriched in heavy isotopes relative to their possible parent sedimentary sources (δ66Zn = -0.07 to +0.64‰; δ65Cu = -0.4 to +0.7‰). In particular, the Cheb Basin moldavites show some of the highest δ65Cu values (up to 12.5‰) ever observed in natural samples. The relative magnitude of isotope fractionation for Cu and Zn seen here is opposite to oxygen-poor environments such as the Moon where Zn is significantly more isotopically fractionated than Cu. One possibility is that monovalent Cu diffuses faster than divalent Zn in the reduced melt and diffusion will not affect the extent of Zn isotope fractionation. These observations imply that the capability of forming a redox environment may aid in volatilizing some elements, accompanied by isotope fractionation, during the impact process. The greater extent of elemental depletion, coupled with isotope fractionation of more refractory Cu relative to Zn, may also hinge on the presence of carbonyl species of transition metals and electromagnetic charge, which could exist in the impact-induced high-velocity jet of vapor and melts.

Surface microlayer enrichment of volatile organic compounds and semi-volatile organic compounds in drinking water source.

Science.gov (United States)

Huang, Zhi; Zhou, Wen; Yu, Ya-juan; Zhang, Ai-qian; Han, Shuo-kui; Wang, Lian-sheng

2004-01-01

Enrichment of volatile organic compounds(VOC) and semi-volatility organic compounds(SVOC) in surface microlayer(SM) of three drinking water sources were studied. The enrichment factor(EFs) were 0.67 to 13.37 and 0.16 to 136, respectively. The results showed some VOC and most SVOC could enrich in SM. Some EFs of SVOC was quite high. Suspension and temperature could affect EFs of SVOC, slim wind and water movement do not destroy enrichment of organic in SM.

Beta Risk and Regime Shift in Market Volatility

OpenAIRE

Don U.A. Galagedera; Roland G. Shami

2004-01-01

In this paper, we relate security returns in the thirty securities in the Dow Jones index to regime shifts in the market portfolio (S&P500) volatility. We model market volatility as a multiple-state Markov switching process of order one and estimate non-diversifiable security risk (beta) in the different market volatility regimes. We test the significance of the premium of the beta risk associated with the different market regimes and find evidence of a relationship between security return an...

Volatility Spillovers Across User-Generated Content and Stock Market Performance

NARCIS (Netherlands)

M. van Dieijen (Myrthe); A. Borah (Abhishek); G.J. Tellis (Gerard); Ph.H.B.F. Franses (Philip Hans)

2016-01-01

textabstractVolatility is an important metric of financial performance, indicating uncertainty or risk. So, predicting and managing volatility is of interest to both company managers and investors. This study investigates whether volatility in user-generated content (UGC) can spill over to

HISTORICAL AND IMPLIED VOLATILITY: AN INVESTIGATION INTO NSE NIFTY FUTURES AND OPTIONS

OpenAIRE

N R Parasuraman; P.Janaki Ramudu

2011-01-01

The broad objective of the paper is to have an understanding of the movement of volatility over a fair period in respect of the market portfolio. Also, it enables an understanding on how divergent the implied volatility has been from this estimate. It uses Volatility Cone, Volatility Smile and Volatility Surface as the parameters. The study takes different rolling periods percentiles of volatility. Hoadley Options Calculator is used for calculation and analysis purpose. The study empirically...

Long-term memory and volatility clustering in high-frequency price changes

Science.gov (United States)

oh, Gabjin; Kim, Seunghwan; Eom, Cheoljun

2008-02-01

We studied the long-term memory in diverse stock market indices and foreign exchange rates using Detrended Fluctuation Analysis (DFA). For all high-frequency market data studied, no significant long-term memory property was detected in the return series, while a strong long-term memory property was found in the volatility time series. The possible causes of the long-term memory property were investigated using the return data filtered by the AR(1) model, reflecting the short-term memory property, the GARCH(1,1) model, reflecting the volatility clustering property, and the FIGARCH model, reflecting the long-term memory property of the volatility time series. The memory effect in the AR(1) filtered return and volatility time series remained unchanged, while the long-term memory property diminished significantly in the volatility series of the GARCH(1,1) filtered data. Notably, there is no long-term memory property, when we eliminate the long-term memory property of volatility by the FIGARCH model. For all data used, although the Hurst exponents of the volatility time series changed considerably over time, those of the time series with the volatility clustering effect removed diminish significantly. Our results imply that the long-term memory property of the volatility time series can be attributed to the volatility clustering observed in the financial time series.

Analysis of chromium volatility in the DWTF incinerator and in the molten salt processor

International Nuclear Information System (INIS)

Ebbinghaus, B.B.

1992-01-01

Thermodynamic methods have been applied to calculate the volatility of chromium both in atmospheres and in milligrams per cubic meter (stp) of offgas for the decontamination and waste treatment facility (DWTF) incinerator and the Rockwell molten salt processor. The known chromium species which have relatively high stabilities under oxidizing conditions and which contain elements found in either the DWTF incinerator or the molten salt processor are CrO 2 (OH) 2 (g), CrO 2 OH(g), CrO 3 (g), CrO 2 Cl 2 (g), and CrOF(g) and CrO 2 F 2 (g). This study demonstrates that these species as well as others such as CrO(OH) 2 (g), CrOOH(g), CrO(OH) 3 (g), CrO 2 Cl(g), CrOC1 2 (g), CrOCl(g), CrOC1 3 (g), CrOC1 4 (g), and CrO 2 F(g) can all be important species which contribute to the overall volatility of chromium in waste oxidation processes

Volatilization and redox testing in a DC arc melter: FY-93 and FY-94

International Nuclear Information System (INIS)

Grandy, J.D.; Sears, J.W.; Soelberg, N.R.; Reimann, G.A.; McIlwain, M.E.

1996-07-01

The purpose of these experiments was to study the dissolution, retention, volatilization, and trapping of transuranic radionuclide elements (TRUs), mixed fission and activation products, and high vapor pressure metals (HVPMS) during processing in a high temperature arc furnace. In all cases, surrogate elements (lanthanides) were used in place of radioactive ones. The experiments were conducted utilizing a small DC arc melter developed at the Idaho National Engineering Laboratory (INEL) Research Center (IRC). The small arc melter was originally developed in 1992 and has been used previously for waste form studies of iron enriched basalt (IEB) and IEB with zirconium and titanium additions (IEB4). Section 3 contains a description of the small arc melter and its operational capabilities are discussed in Chapter 4. The remainder of the document describes each testing program and then discusses results and findings

29 CFR 1910.1002 - Coal tar pitch volatiles; interpretation of term.

Science.gov (United States)

2010-07-01

... 29 Labor 6 2010-07-01 2010-07-01 false Coal tar pitch volatiles; interpretation of term. 1910.1002... Hazardous Substances § 1910.1002 Coal tar pitch volatiles; interpretation of term. As used in § 1910.1000 (Table Z-1), coal tar pitch volatiles include the fused polycyclic hydrocarbons which volatilize from the...

Volatile-rich komatiitic and picritic melt inclusions in Cr-spinel beach sand from Gorgona Island, Colombia

Science.gov (United States)

Shimizu, K.; Shimizu, N.; Suzuki, K.; Tatsumi, Y.; Komiya, T.; Maruyama, S.

2007-12-01

Volatile content of komatiite is a key to constrain thermal evolution of the deep Earth. We report volatile contents with major and trace element compositions of melt inclusions (MIs) in chromian spinel (Cr-spinel) from beach sands of Gorgona Island, Colombia. Gorgona Island is ~90 Ma volcanic island, where picrites and the world-youngest komatiites occur. As Cr-spinel is dense and rigid oxide mineral that crystallizes only at early stages of crystallization, it is considered to be a superior container for retaining primitive melt, even including volatiles. Volatile (H2O, CO2, S, F and Cl) and trace element (K2O, Sr, Y, Zr, Nb, Ba, La, Ce, Sm, Dy, Yb) compositions of ~80 MIs were analyzed by SIMS (Cameca-1280 and 3f, respectively) at WHOI. MIs in the Cr-spinel from Gorgona Is. are classified into three types by their host Cr-spinel compositions such as low-Ti (P-type), high-Ti with high-Cr# (BK-type) and high-Ti with low-Cr# (K-type). MIs of P-type, BK-type and K-type are mostly in compositional ranges of picrite, high TiO2 komatiite (some basalt) and low TiO2 komatiite in Gorgona Island, respectively. Water content of P-type MIs is variable, ranging from 0.05 to 0.9 wt%, whereas those of BK and K-type MIs are limited (500 ppm) do not contain (shrinkage) bubbles and many of them are low in K2O. H2O/K2O, CO2/K2O, S/K2O and F/K2O ratios are positively correlated with Y/Sr ratios, indicating degassing trends of melt at crystallization, magma mixing and/or assimilation. Undegassed H2O/K2O, CO2/K2O, S/K2O and F/K2O ratios of komatiitic (picritic) melt are estimated to be ~10 (~40), ~80 (n.d.), ~7(~3) and ~1(~0.5), respectively, which are much higher than those estimated for the depleted source mantle of the MORB [1.6, 0.7, 1.6 and 0.2, respectively; Salters, V. & Stracke, A. (2004), Composition of the depleted mantle. Geochem. Geophys. Geosys. 5 (2003GC000597)]. The results suggest that Gorgona komatiite and picrite magmas were derived from volatile-rich sources. CO2

Assessing pollution in a Mediterranean lagoon using acid volatile sulfides and estimations of simultaneously extracted metals.

Science.gov (United States)

Zaaboub, Noureddine; Helali, Mohamed Amine; Martins, Maria Virgínia Alves; Ennouri, Rym; Béjaoui, Béchir; da Silva, Eduardo Ferreira; El Bour, Monia; Aleya, Lotfi

2016-11-01

Bizerte Lagoon is a southern Mediterranean semi-enclosed lagoon with a maximum depth of 12 m. After assessing sediment quality, the authors report on the physicochemical characteristics of the lagoon's surface sediment using SEM (simultaneously extracted metals) and AVS (acid volatile sulfides) as proxies. Biogeochemical tools are used to investigate the environmental disturbance at the water-sediment interface by means of SEM and AVS to seek conclusions concerning the study area's pollution status. Results confirm accumulation of trace elements in sediment. The use of the SEM-AVS model with organic matter in sediment (ƒOC) confirms possible bioavailability of accumulated trace elements, especially Zn, in the southern part of the lagoon, with organic matter playing an important role in SEM excess correction to affirm a nontoxic total metal sediment state. Individual trace element toxicity is dependent on the bioavailable fraction of SEM Metal on sediment, as is the influence of lagoon inflow from southern water sources on element bioavailability. Appropriate management strategies are highly recommended to mitigate any potential harmful effects on health from this heavy-metal-based pollution.

Solvent Refined Coal (SRC) process: trace elements. Research and development report No. 53, interim report No. 30. Volume III. Pilot plant development work. Part 6. The fate of trace elements in the SRC process

International Nuclear Information System (INIS)

Khalil, S.R.

1980-02-01

Instrumental neutron activation analysis was used to study the distribution and fate of up to 36 elements in the Solvent Refined Coal Process Pilot Plant located at Fort Lewis, Washington. The elements Ti, V, Mg, Ca, Al, Cl, Mn, As, Br, Na, K, Sm, La, Ga, Cu, Sb, Se, Hg, Ni, Co, Cr, Fe, Rb, Cs, Sc, Tb, Eu, Ce, Sr, Ba, Th, U, Hf, Ta, Zr and Zn were measured in feed coal, insoluble residues, process solvent, process and effluent waters, by-product sulfur, SRC-I solid product, liquid-liquid separator oils and SRC-II liquid products. The material balance was calculated for each element from the concentration data and yields of each process fraction for both the SRC-I and SRC-II processes. Except for Ti, Cl and Br in the SRC-I mode and Hg in the SRC-II mode, each element was substantially lower in the SRC products than in the original feed coal. Residues from the process contained more than 80% of the trace element content found in the coal, except for Hg. More than 98.5% of the total contents of K and Fe in coal were retained in the insoluble residues. Elements such as Hg, Se, As and Sb can form volatile compounds (such as Hg 0 , H 2 Se, AsH 3 and SbH 3 ) stable under the process conditions. The high enhancement factors of Se (957), As (202) and Sb (27.4) in the aqueous phase of the separator water compared to that of the oil are evidence for the formation of volatile species which are more soluble in water than in the oil phase

Consequences for option pricing of a long memory in volatility

OpenAIRE

Taylor, S J

2001-01-01

The economic consequences of a long memory assumption about volatility are documented, by comparing implied volatilities for option prices obtained from short and long memory volatility processes. Numerical results are given for options on the S&P 100 index from 1984 to 1998, with lives up to two years. The long memory assumption is found to have a significant impact upon the term structure of implied volatilities and a relatively minor impact upon smile effects. These conclusions are importa...

THE EFFECT OF EXCHANGE RATE VOLATILITY ON WHEAT TRADE WORLDWIDE

OpenAIRE

Sun, Changyou; Kim, Mina; Koo, Won W.; Cho, Guedae; Jin, Hyun Joung

2002-01-01

A modified gravity-type model was employed to evaluate the effect of exchange rate volatility on wheat exports worldwide. Special attention was given to the econometric properties of the gravity model within panel framework. Short and long-term measures of exchange rate volatility were constructed and compared. Both measures of exchange rate volatility have exhibited a negative effect on world wheat trade and the long-term effect was even larger. This result implies that exchange rate volatil...

Volatility of organic aerosol and its components in the Megacity of Paris

Science.gov (United States)

Paciga, A.; Karnezi, E.; Kostenidou, E.; Hildebrandt, L.; Psichoudaki, M.; Engelhart, G. J.; Lee, B.-H.; Crippa, M.; Prévôt, A. S. H.; Baltensperger, U.; Pandis, S. N.

2015-08-01

Using a mass transfer model and the volatility basis set, we estimate the volatility distribution for the organic aerosol (OA) components during summer and winter in Paris, France as part of the collaborative project MEGAPOLI. The concentrations of the OA components as a function of temperature were measured combining data from a thermodenuder and an aerosol mass spectrometer (AMS) with Positive Matrix Factorization (PMF) analysis. The hydrocarbon-like organic aerosol (HOA) had similar volatility distributions for the summer and winter campaigns with half of the material in the saturation concentration bin of 10 μg m-3 and another 35-40 % consisting of low and extremely low volatility organic compounds (LVOCs and ELVOCs, respectively). The winter cooking OA (COA) was more than an order of magnitude less volatile than the summer COA. The low volatility oxygenated OA (LV-OOA) factor detected in the summer had the lowest volatility of all the derived factors and consisted almost exclusively of ELVOCs. The volatility for the semi-volatile oxygenated OA (SV-OOA) was significantly higher than that of the LV-OOA, containing both semi-volatile organic components (SVOCs) and LVOCs. The oxygenated OA (OOA) factor in winter consisted of SVOCs (45 %), LVOCs (25 %) and ELVOCs (30 %). The volatility of marine OA (MOA) was higher than that of the other factors containing around 60 % SVOCs. The biomass burning OA (BBOA) factor contained components with a wide range of volatilities with significant contributions from both SVOCs (50 %) and LVOCs (30 %). Finally, combining the O : C ratio and volatility distributions of the various factors, we incorporated our results into the two-dimensional volatility basis set (2D-VBS). Our results show that the factors cover a broad spectrum of volatilities with no direct link between the average volatility and average O : C of the OA components. Agreement between our findings and previous publications is encouraging for our understanding of the

Human skin volatiles: a review.

Science.gov (United States)

Dormont, Laurent; Bessière, Jean-Marie; Cohuet, Anna

2013-05-01

Odors emitted by human skin are of great interest to biologists in many fields; applications range from forensic studies to diagnostic tools, the design of perfumes and deodorants, and the ecology of blood-sucking insect vectors of human disease. Numerous studies have investigated the chemical composition of skin odors, and various sampling methods have been used for this purpose. The literature shows that the chemical profile of skin volatiles varies greatly among studies, and the use of different sampling procedures is probably responsible for some of these variations. To our knowledge, this is the first review focused on human skin volatile compounds. We detail the different sampling techniques, each with its own set of advantages and disadvantages, which have been used for the collection of skin odors from different parts of the human body. We present the main skin volatile compounds found in these studies, with particular emphasis on the most frequently studied body regions, axillae, hands, and feet. We propose future directions for promising experimental studies on odors from human skin, particularly in relation to the chemical ecology of blood-sucking insects.

Regime-switching stochastic volatility. Evidence from the crude oil market

International Nuclear Information System (INIS)

Vo, Minh T.

2009-01-01

This paper incorporates regime-switching into the stochastic volatility (SV) framework in an attempt to explain the behavior of crude oil prices in order to forecast their volatility. More specifically, it models the volatility of oil return as a stochastic volatility process whose mean is subject to shifts in regime. The shift is governed by a two-state first-order Markov process. The Bayesian Markov Chain Monte Carlo method is used to estimate the models. The main findings are: first, there is clear evidence of regime-switching in the oil market. Ignoring it will lead to a false impression that the volatility is highly persistent and therefore highly predictable. Second, incorporating regime-switching into the SV framework significantly enhances the forecasting power of the SV model. Third, the regime-switching stochastic volatility model does a good job in capturing major events affecting the oil market. (author)

Volatility Determination in an Ambit Process Setting

DEFF Research Database (Denmark)

Barndorff-Nielsen, Ole; Graversen, Svend-Erik

The probability limit behaviour of normalised quadratic variation is studied for a simple tempo-spatial ambit process, with particular regard to the question of volatility memorylessness.......The probability limit behaviour of normalised quadratic variation is studied for a simple tempo-spatial ambit process, with particular regard to the question of volatility memorylessness....

Extracting volatility signal using maximum a posteriori estimation

Science.gov (United States)

Neto, David

2016-11-01

This paper outlines a methodology to estimate a denoised volatility signal for foreign exchange rates using a hidden Markov model (HMM). For this purpose a maximum a posteriori (MAP) estimation is performed. A double exponential prior is used for the state variable (the log-volatility) in order to allow sharp jumps in realizations and then log-returns marginal distributions with heavy tails. We consider two routes to choose the regularization and we compare our MAP estimate to realized volatility measure for three exchange rates.

Evaluation of γ-radiation on green tea odor volatiles

International Nuclear Information System (INIS)

Fanaro, G.B.; Duarte, R.C.; Araujo, M.M.; Purgatto, E.; Villavicencio, A.L.C.H.

2011-01-01

The aim of this study was to evaluate the gamma radiation effects on green tea odor volatiles in green tea at doses of 0, 5, 10, 15 and 20 kGy. The volatile organic compounds were extracted by hydrodistillation and analyzed by GC/MS. The green tea had a large influence on radiation effects, increasing the identified volatiles in relation to control samples. The dose of 10 kGy was responsible to form the majority of new odor compounds following by 5 and 20 kGy. However, the dose of 5 kGy was the dose that degraded the majority of volatiles in non-irradiated samples, following by 20 kGy. The dose of 15 kGy showed has no effect on odor volatiles. The gamma radiation, at dose up to 20 kGy, showed statistically no difference between irradiated and non irradiated green tea on odors compounds.

Volatile Composition of Smoked and Non-Smoked Iranian Rice

Directory of Open Access Journals (Sweden)

Leontina Lipan

2016-11-01

Full Text Available In this work, the volatile profiles of smoked and non-smoked Iranian rice were identified, and their relative abundance was calculated and compared. Headspace solid-phase microextraction together with gas chromatography-mass spectrometry (SPME-GC-MS were used to extract and identify the volatile compounds. The main groups of volatiles in Iranian rice were aldehydes, ketones, phenol derivatives, furans, linear hydrocarbons, esters and terpenes. The chemical family aldehydes was the most abundant one in the profile of non-smoked rice, while phenol derivatives and furans predominated in smoked samples. This study is the first one reporting comparative data of volatile compounds between smoked and non-smoked Iranian rice.

Idiosyncratic Volatility Puzzle

DEFF Research Database (Denmark)

Aslanidis, Nektarios; Christiansen, Charlotte; Lambertides, Neophytos

from a large pool of macroeconomic and Önancial variables. Cleaning for macro-Önance e§ects reverses the puzzling negative relation between returns and idiosyncratic volatility documented previously. Portfolio analysis shows that the e§ects from macro-Önance factors are economically strong...

Isolation of volatile compounds of Aloe excelsa (Berger ...

African Journals Online (AJOL)

PROMOTING ACCESS TO AFRICAN RESEARCH ... Industrial and pharmacological applications of volatile and non-volatile compounds isolated ... Three commercially important compounds, namely: phenylacetonitrile, carvone and limonene were identified using gas ... EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT

Forecasting volatility in the presence of Leverage Effect

OpenAIRE

Jean-Christophe Domenge; Rémi Rhodes; Vincent Vargas

2010-01-01

We define a simple and tractable method for adding the Leverage effect in general volatility predictions. As an application, we compare volatility predictions with and without Leverage on the SP500 Index during the period 2002-2010.

Electronic trading system and returns volatility in the oil futures market

International Nuclear Information System (INIS)

Liao, Huei-Chu; Lee, Yi-Huey; Suen, Yu-Bo

2008-01-01

This paper uses daily Brent crude prices to investigate the employment of electronic trading on the returns conditional volatility in the oil futures market. After a suitable GARCH model is established, the conditional volatility series are found. The Bai and Perron model is then used to find two significant structural breaks for these conditional volatility series around two implementation dates of electronic trading. This result indicates that the change in the trading system has significant impacts on the returns volatility since our estimated second break date is very close to the all-electronic trade implementation date. Moreover, the conditional volatility in the all-electronic trading period is found to be more dominated by the temporal persistence rather than the volatility clustering effect. All these evidence can shed some light for explaining the high relationship between more volatile world oil price and the more popular electronic trade. (author)

Resistive RAMs as analog trimming elements

Science.gov (United States)

Aziza, H.; Perez, A.; Portal, J. M.

2018-04-01

This work investigates the use of Resistive Random Access Memory (RRAM) as an analog trimming device. The analog storage feature of the RRAM cell is evaluated and the ability of the RRAM to hold several resistance states is exploited to propose analog trim elements. To modulate the memory cell resistance, a series of short programming pulses are applied across the RRAM cell allowing a fine calibration of the RRAM resistance. The RRAM non volatility feature makes the analog device powers up already calibrated for the system in which the analog trimmed structure is embedded. To validate the concept, a test structure consisting of a voltage reference is evaluated.

A multiscale extension of the Margrabe formula under stochastic volatility

International Nuclear Information System (INIS)

Kim, Jeong-Hoon; Park, Chang-Rae

2017-01-01

Highlights: • Fast-mean-reverting stochastic volatility model is chosen to extend the classical Margrabe formula. • The resultant formula is explicitly given by the greeks of Margrabe price itself. • We show how the stochastic volatility corrects the Margrabe price behavior. - Abstract: The pricing of financial derivatives based on stochastic volatility models has been a popular subject in computational finance. Although exact or approximate closed form formulas of the prices of many options under stochastic volatility have been obtained so that the option prices can be easily computed, such formulas for exchange options leave much to be desired. In this paper, we consider two different risky assets with two different scales of mean-reversion rate of volatility and use asymptotic analysis to extend the classical Margrabe formula, which corresponds to a geometric Brownian motion model, and obtain a pricing formula under a stochastic volatility. The resultant formula can be computed easily, simply by taking derivatives of the Margrabe price itself. Based on the formula, we show how the stochastic volatility corrects the Margrabe price behavior depending on the moneyness and the correlation coefficient between the two asset prices.

Volatiles from solids

Energy Technology Data Exchange (ETDEWEB)

Loughrey, C T

1939-08-24

To remove volatiles from solids, such as oil shale, gases, and/or vapours are passed through a mass of the materials, the vapours and gases separated, and the vapours condensed. The volatile-containing solid materials are fed to a retort, and a shaft is driven to rotate an impeller so as to displace the liquid and create a vortex tube, which draws in gas from the atmosphere through an intake, twyer, interstices in the material in the retort, a conduit, chamber, tubes, another chamber and cylinder. This gas is carried outwardly and upwardly by the vortices in the liquid and is carried to discharge through three conduits. The vapours entrained by the gas are part condensed in the liquid and the remainder directed to a condenser. Steam may be delivered to the twyer through a nozzle of a pipe, with or without air, and combustible hydrocarbon fuel may be fed through the burner nozzle or solid fuel may be directed from feeder and combusted in the twyer.

The impact of induced plant volatiles on lant-arthropod interactions

NARCIS (Netherlands)

Alba, J.M.; Bleeker, P.M.; Glas, J.J.; Schimmel, B.C.J.; van Wijk, M.; Sabelis, M.W.; Schuurink, R.C.; Kant, M.R.; Smagghe, G.; Diaz, I.

2012-01-01

Plants release volatile organic compounds from their vegetative tissues into their environment during most of their life cycle. The functions of these volatiles are diverse and not always known but some of these volatiles repel foraging herbivores while others, in turn, attract them and are feeding

Option Valuation with Observable Volatility and Jump Dynamics

DEFF Research Database (Denmark)

Christoffersen, Peter; Feunou, Bruno; Jeon, Yoontae

Under very general conditions, the total quadratic variation of a jump-diffusion process can be decomposed into diffusive volatility and squared jump variation. We use this result to develop a new option valuation model in which the underlying asset price exhibits volatility and jump intensity...... dynamics. The volatility and jump intensity dynamics in the model are directly driven by model-free empirical measures of diffusive volatility and jump variation. Because the empirical measures are observed in discrete intervals, our option valuation model is cast in discrete time, allowing...... for straightforward filtering and estimation of the model. Our model belongs to the affine class enabling us to derive the conditional characteristic function so that option values can be computed rapidly without simulation. When estimated on S&P500 index options and returns the new model performs well compared...

Volatilization of Po by microorganisms at laboratory culture experiments

International Nuclear Information System (INIS)

Momoshima, N.; Ishida, A.; Yoshinaga, C.; Fukuda, A.

2005-01-01

The previous experiments proved the volatility of polonium form culture medium in which microorganisms were propagated from seed of seawater, river water or pond water, therefore we did not know what kind of species are responsible to Po volatility. To search microorganisms, which concerned with Po emission we carried out culture experiments using known microorganisms. Three microorganisms were examined; Escherichia coli K-12, Bacillus subtilis and Chromobacterium violaceum. The microorganisms were pre-cultured in LB medium at 30 degree C and a small portion of the pre-cultured was transferred to a culture bottle in which LB medium and 208 Po tracer were contained. The culture was done at 30 degree C with shaking the culture bottle and air passed through a filter was introduced. The Po volatilized was transferred into the trap vials in which scintillator for liquid scintillation counting (LSC) was contained. The Po activity was measured by LSC. All of the microorganisms examined volatilized Po but their ability was quite different each other. Highest ability was observed on Chromobacterium violaceum and then Escherichia coli K-12 followed by Bacillus subtilis, the relative magnitude of the ability was 10 2 , 10, 1, respectively. Chromobacterium violaceum and Escherichia coli K-12 showed high volatility for the first 24 h but Escherichia coli K-12 showed a decrease thereafter. However high volatility was continued on Chromobacterium violaceum during the culture. The low culture temperature suppressed Po volatility, supporting biologically mediated Po emission from the culture.

Release of volatile and semi-volatile toxicants during house fires.

Science.gov (United States)

Hewitt, Fiona; Christou, Antonis; Dickens, Kathryn; Walker, Richard; Stec, Anna A

2017-04-01

Qualitative results are presented from analysis of volatile and semi-volatile organic compounds (VOCs/SVOCs) obtained through sampling of gaseous effluent and condensed particulates during a series of experimental house fires conducted in a real house. Particular emphasis is given to the 16 polycyclic aromatic hydrocarbons (PAHs) listed by the Environmental Protection Agency due to their potentially carcinogenic effects. The initial fuel packages were either cooking oil or a single sofa; these were burned both alone, and in furnished surroundings. Experiments were performed at different ventilation conditions. Qualitative Gas Chromatography-Mass Spectrometry (GC-MS) analysis found VOC/SVOC releases in the developing stages of the fires, and benzo(a)pyrene - the most carcinogenic PAH - was found in at least one sampling interval in the majority of fires. A number of phosphorus fire retardants were detected, in both the gaseous effluent and particulates, from fires where the initial fuel source was a sofa. Their release during the fire is significant as they pose toxicological concerns separate from those presented by the PAHs. Copyright © 2016. Published by Elsevier Ltd.

Volatilities, Traded Volumes, and Price Increments in Derivative Securities

Science.gov (United States)

Kim, Kyungsik; Lim, Gyuchang; Kim, Soo Yong; Scalas, Enrico

2007-03-01

We apply the detrended fluctuation analysis (DFA) to the statistics of the Korean treasury bond (KTB) futures from which the logarithmic increments, volatilities, and traded volumes are estimated over a specific time lag. For our case, the logarithmic increment of futures prices has no long-memory property, while the volatility and the traded volume exhibit the existence of long-memory property. To analyze and calculate whether the volatility clustering is due to the inherent higher-order correlation not detected by applying directly the DFA to logarithmic increments of the KTB futures, it is of importance to shuffle the original tick data of futures prices and to generate the geometric Brownian random walk with the same mean and standard deviation. It is really shown from comparing the three tick data that the higher-order correlation inherent in logarithmic increments makes the volatility clustering. Particularly, the result of the DFA on volatilities and traded volumes may be supported the hypothesis of price changes.