WorldWideScience

Sample records for volume iii trade

  1. Recurrence interval analysis of trading volumes.

    Science.gov (United States)

    Ren, Fei; Zhou, Wei-Xing

    2010-06-01

    We study the statistical properties of the recurrence intervals τ between successive trading volumes exceeding a certain threshold q. The recurrence interval analysis is carried out for the 20 liquid Chinese stocks covering a period from January 2000 to May 2009, and two Chinese indices from January 2003 to April 2009. Similar to the recurrence interval distribution of the price returns, the tail of the recurrence interval distribution of the trading volumes follows a power-law scaling, and the results are verified by the goodness-of-fit tests using the Kolmogorov-Smirnov (KS) statistic, the weighted KS statistic and the Cramér-von Mises criterion. The measurements of the conditional probability distribution and the detrended fluctuation function show that both short-term and long-term memory effects exist in the recurrence intervals between trading volumes. We further study the relationship between trading volumes and price returns based on the recurrence interval analysis method. It is found that large trading volumes are more likely to occur following large price returns, and the comovement between trading volumes and price returns is more pronounced for large trading volumes.

  2. Measurable inhomogeneities in stock trading volume flow

    Science.gov (United States)

    Cortines, A. A. G.; Riera, R.; Anteneodo, C.

    2008-08-01

    We investigate the statistics of volumes of shares traded in stock markets. We show that the stochastic process of trading volumes can be understood on the basis of a mixed Poisson process at the microscopic time level. The beta distribution of the second kind (also known as q-gamma distribution), that has been proposed to describe empirical volume histograms, naturally results from our analysis. In particular, the shape of the distribution at small volumes is governed by the degree of granularity in the trading process, while the exponent controlling the tail is a measure of the inhomogeneities in market activity. Furthermore, the present case furnishes empirical evidence of how power law probability distributions can arise as a consequence of a fluctuating intrinsic parameter.

  3. WTO: Global Trade Volume to Grow 13% in 2010

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    WTO recently released the latest global trade environment report and analyzed the varous data from Dec. 2009 to Oct. 2010, including trade situation, employment market, GDP, regional trade protocols and trade barriers. World Trade Organization forecasted that global trade volume (including goods trade and service trade) would grow 13% in 2010. The statistics show that the global export growth has exceeded the output growth. From 2000 to 2007, the world export trade rose at the pace of 6%, but dropped to 2% in 2008, even negative growth in 2009. The falling pace was 12%. Not untill July 2010, did the world trade recover the precrisis level of June 2008.

  4. EUBIONET III - Solutions to biomass trade and market barriers

    NARCIS (Netherlands)

    Alakangas, E.; Junginger, H.M.; Dam, J.M.C. van; Hinge, J.; Keränen, J.; Olsson, O.; Porsö, C.; Martikainen, A.; Rathbauer, J.; Sulzenbacher, L.; Vesterinen, P.; Vinterbäck, J.

    2012-01-01

    The EUBIONET III project has boosted (i) sustainable, transparent international biomass fuel trade, (ii) investments in best practice technologies and (iii) new services on biomass heat sector. Furthermore, it identified cost-efficient and value-adding use of biomass for energy and industry. The aim

  5. Belief dispersion among household investors and stock trading volume

    OpenAIRE

    2011-01-01

    We study the effects of belief dispersion on stock trading volume. Unlike most of the existing work on the subject, our paper focuses on how household investors' disagreements on macroeconomic variables influence market-wide trading volume. We show that greater belief dispersion among household investors is associated with significantly higher trading volume, even after controlling for the disagreements among professional forecasters. Further, we find that the belief dispersion among househol...

  6. Fluctuations of trading volume in a stock market

    Science.gov (United States)

    Hong, Byoung Hee; Lee, Kyoung Eun; Hwang, Jun Kyung; Lee, Jae Woo

    2009-03-01

    We consider the probability distribution function of the trading volume and the volume changes in the Korean stock market. The probability distribution function of the trading volume shows double peaks and follows a power law, P(V/)∼( at the tail part of the distribution with α=4.15(4) for the KOSPI (Korea composite Stock Price Index) and α=4.22(2) for the KOSDAQ (Korea Securities Dealers Automated Quotations), where V is the trading volume and is the monthly average value of the trading volume. The second peaks originate from the increasing trends of the average volume. The probability distribution function of the volume changes also follows a power law, P(Vr)∼Vr-β, where Vr=V(t)-V(t-T) and T is a time lag. The exponents β depend on the time lag T. We observe that the exponents β for the KOSDAQ are larger than those for the KOSPI.

  7. 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...

  8. 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...

  9. Price dynamics and trading volume: A semiparametric approach

    NARCIS (Netherlands)

    Spierdijk, L.; Nijman, T.E.; van Soest, A.H.O.

    2004-01-01

    In this paper we investigate the relation between price impact and trading volume for a sample of stocks listed on the New York Stock Exchange. The parametric VAR-models that have been used in the literature impose strong proportionality and symmetry restrictions on the price impact of trades,

  10. 76 FR 60511 - Amendment of Marine Safety Manual, Volume III

    Science.gov (United States)

    2011-09-29

    ... SECURITY Coast Guard Amendment of Marine Safety Manual, Volume III AGENCY: Coast Guard, DHS. ACTION: Notice... Offshore Units. The policy is currently found in Chapter 16 of the Marine Safety Manual, Volume III. The... Federal Register (73 FR 3316). Background and Purpose Chapter 16 of Volume III of the Marine Safety...

  11. Impact of Trading Volume on Prediction of Stock Market Development

    Directory of Open Access Journals (Sweden)

    Rudolf Plachý

    2014-01-01

    Full Text Available The paper focuses on the influence of trading volume on quality of prediction of stock market development. The main objective of this article is to assess the influence of stock trading volume level on quality of prediction with use of technical analysis. The research was applied on stocks included in the S & P 500 index. Based on average daily trading volume, three aggregate indexes were constructed. The dynamics of index return volatility was modeled by GARCH-class models. GARCH(1,1, GJR and EGARCH models were estimated for each time series. The in-sample evidence indicated that the return volatility of the indexes can be characterized by significant persistence and asymmetric effects. The best estimate of each model was produced for the index of stocks with the highest average trading volume.However the result could differ based on the observed period, the volatility structure of the examined data supports the idea that influential investors respond to various shocks in the market primarily by closing or opening their largest position.The importance of the level of trading volume for the prediction of financial time series development was shown in the paper. This finding could help generate such volatility structure of time series which would allow to explain development of the time series by various models with better results.

  12. Asymmetric responses of international stock markets to trading volume

    Science.gov (United States)

    Gerlach, Richard; Chen, Cathy W. S.; Lin, Doris S. Y.; Huang, Ming-Hsiang

    2006-02-01

    The major goal of this paper is to examine the hypothesis that stock returns and return volatility are asymmetric, threshold nonlinear, functions of change in trading volume. A minor goal is to examine whether return spillover effects also display such asymmetry. Employing a double-threshold GARCH model with trading volume as a threshold variable, we find strong evidence supporting this hypothesis in five international market return series. Asymmetric causality tests lend further support to our trading volume threshold model and conclusions. Specifically, an increase in volume is positively associated, while decreasing volume is negatively associated, with the major price index in four of the five markets. The volatility of each series also displays an asymmetric reaction, four of the markets display higher volatility following increases in trading volume. Using posterior odds ratio, the proposed threshold model is strongly favored in three of the five markets, compared to a US news double threshold GARCH model and a symmetric GARCH model. We also find significant nonlinear asymmetric return spillover effects from the US market.

  13. 17 CFR 16.01 - Trading volume, open contracts, prices, and critical dates.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Trading volume, open contracts... TRADING COMMISSION REPORTS BY REPORTING MARKETS § 16.01 Trading volume, open contracts, prices, and critical dates. (a) Trading volume and open contracts. Each reporting market shall record for each...

  14. Trading Volume and Stock Indices: A Test of Technical Analysis

    Directory of Open Access Journals (Sweden)

    Paul Abbondante

    2010-01-01

    Full Text Available Problem statement: Technical analysis and its emphasis on trading volume has been used to analyze movements in individual stock prices and make investment recommendations to either buy or sell that stock. Little attention has been paid to investigating the relationship between trading volume and various stock indices. Approach: Since stock indices track overall stock market movements, trends in trading volume could be used to forecast future stock market trends. Instead of focusing only on individual stocks, this study will examine movements in major stock markets as a whole. Regression analysis was used to investigate the relationship between trading volume and five popular stock indices using daily data from January, 2000 to June, 2010. A lag of 5 days was used because this represents the prior week of trading volume. The total sample size ranges from 1,534-2,638 to observations. Smaller samples were used to test the investment horizon that explains movements of the indices more completely. Results: The F statistics were significant for samples using 6 and 16 months of data. The F statistic was not significant using a sample of 1 month of data. This is surprising given the short term focus of technical analysis. The results indicate that above-average returns can be achieved using futures, options and exchange traded funds which track these indices. Conclusion: Future research efforts will include out-of-sample forecasting to determine if above-average returns can be achieved. Additional research can be conducted to determine the optimal number of lags for each index.

  15. Heterogeneous Beliefs, Trading Volume, and Seemingly Emotional Stock Market Behavior

    Institute of Scientific and Technical Information of China (English)

    CHEN Zhanhui; YANG Xin

    2007-01-01

    Various information types and rational learning methods have shown that heterogeneous belief changes in a rational expectation model can explain many empirical findings in stock markets, such as momentum, contrarians, and technical trading. The methods have also shown that momentum and price movements can coexist in an asset market with only rational agents. The purpose of this paper is to provide a rational economic theory to explain these phenomena. Results of a dynamic programming model with heterogeneous beliefs show that the dynamic interactions between information diffusion and belief changes create continuation and reversals. The duration and magnitude of momentum and price movements are associated with trading volume. Therefore, rational investors should incorporate price and volume information in their trading decisions.

  16. The relationship between trading volumes, number of transactions, and stock volatility in GARCH models

    Science.gov (United States)

    Takaishi, Tetsuya; Chen, Ting Ting

    2016-08-01

    We examine the relationship between trading volumes, number of transactions, and volatility using daily stock data of the Tokyo Stock Exchange. Following the mixture of distributions hypothesis, we use trading volumes and the number of transactions as proxy for the rate of information arrivals affecting stock volatility. The impact of trading volumes or number of transactions on volatility is measured using the generalized autoregressive conditional heteroscedasticity (GARCH) model. We find that the GARCH effects, that is, persistence of volatility, is not always removed by adding trading volumes or number of transactions, indicating that trading volumes and number of transactions do not adequately represent the rate of information arrivals.

  17. North Africa - Working paper - Trade Volume and Economic Growth in the MENA Region: Goods or Services?

    OpenAIRE

    Jacob Kolster

    2015-01-01

    Key messages • The relatively important trade barriers do not only have a negative impact on service trade, but also on the competitiveness of manufacturing, especially that some services such as transport and telecommunication services as well as financial services are complementary to goods production and exports. • The study underline that trade in services and trade in goods both do increase gross domestic product as trade policy openness and higher ratios of trade volumes to gross domest...

  18. The Impact of Historical and Regional Networks on Trade Volumes within the Western Hemisphere: A Gravity Analysis across Sectors

    OpenAIRE

    Sandberg, H. Mikael; Seale, James L., Jr.

    2012-01-01

    This paper identifies and analyzes the effects of existing trade networks on bilateral trade volumes in the Western Hemisphere by applying the gravity model of international trade to two data-sets, one encompassing bilateral trade volumes of agricultural products and one encompassing bilateral trade volumes of manufactured goods.

  19. Culture of Schools. Final Report. Volume III.

    Science.gov (United States)

    American Anthropological Association, Washington, DC.

    The third volume of this 4-volume report contains the last two speeches, on educational philosophy and the role of reason in society, from the Colloquium on the Culture of Schools held at the New School for Social Research (preceding speeches are in Vol. II, SP 003 901), reports on conferences on the culture of schools held in Pittsburgh and…

  20. Ways to Environmental Education, Volume III.

    Science.gov (United States)

    Allen, Rodney F., Ed.; And Others

    Ten environmental education booklets presented in this document are the third volume of the environmental series developed by community groups around the Tallahassee Junior Museum and its Pioneer Farm. The first three booklets present an overview of the museum and of the various education programs and activities offered for students at the museum…

  1. DART II documentation. Volume III. Appendices

    Energy Technology Data Exchange (ETDEWEB)

    1979-10-01

    The DART II is a remote, interactive, microprocessor-based data acquistion system suitable for use with air monitors. This volume of DART II documentation contains the following appendixes: adjustment and calibration procedures; mother board signature list; schematic diagrams; device specification sheets; ROM program listing; 6800 microprocessor instruction list, octal listing; and cable lists. (RWR)

  2. DART II documentation. Volume III. Appendices

    Energy Technology Data Exchange (ETDEWEB)

    1979-05-23

    The DART II is a data acquisition system that can be used with air pollution monitoring equipment. This volume contains appendices that deal with the following topics: adjustment and calibration procedures (power supply adjustment procedure, ADC calibration procedure, analog multiplexer calibration procedure); mother board signature list; schematic diagrams; device specification sheets (microprocessor, asynchronous receiver/transmitter, analog-to-digital converter, arithmetic processing unit, 5-volt power supply, +- 15-volt power supply, 24-volt power supply, floppy disk formater/controller, random access static memory); ROM program listing; 6800 microprocessor instruction set, octal listing; and cable lists. (RR)

  3. Free radicals in biology. Volume III

    Energy Technology Data Exchange (ETDEWEB)

    Pryor, W.A. (ed.)

    1977-01-01

    This volume covers topics ranging from radiation chemistry to biochemistry, biology, and medicine. This volume attempts to bridge the gap between chemical investigations and the medical applications and implications of free radical reactions. Chapter 1 provides a general introduction to the technique of radiation chemistry, the thermodynamics and kinetic factors that need be considered, the use of pulse radiolysis and flow techniques, and the application of these methods to free radicals of biological interest. Chapter 3 discusses the mechanisms of carbon tetrachloride toxicity. Chapter 4 reviews the morphological, histochemical, biochemical, and chemical nature of lipofuscin pigments. This chapter brings together the evidence that lipofuscin pigments arise from free radical pathology and that the formation of these pigments proves the presence of lipid peroxidation in vivo. Chapter 5 reviews the evidence for production of free (i.e., scavengeable) radicals from the reactions of selected enzymes with their substrates. Chapter 6 discusses one of the systems in which free radical damage is clearly important in vivo, both for man and animal, the damage caused to skin by sunlight. The evidence that free radical reactions can contribute to carcinogenesis dates from the earliest observations that ionizing radiation often produces higher incidences of tumors. A current working hypothesis is that chemical toxins cause damage to DNA and that the repair of this damge may incorporate viral genetic information into the host cell's chromosomes, producing cell transformation and cancer. The mechanism whereby chemical carcinogens become bound to DNA to produce point defects is discussed in Chapter 7.

  4. Technology transfer package on seismic base isolation - Volume III

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-02-14

    This Technology Transfer Package provides some detailed information for the U.S. Department of Energy (DOE) and its contractors about seismic base isolation. Intended users of this three-volume package are DOE Design and Safety Engineers as well as DOE Facility Managers who are responsible for reducing the effects of natural phenomena hazards (NPH), specifically earthquakes, on their facilities. The package was developed as part of DOE's efforts to study and implement techniques for protecting lives and property from the effects of natural phenomena and to support the International Decade for Natural Disaster Reduction. Volume III contains supporting materials not included in Volumes I and II.

  5. REAKSI PASAR TERHADAP PERUBAHAN DIVIDEN DENGAN INDIKATOR ABNORMAL RETURN DAN TRADING VOLUME ACTIVITY

    Directory of Open Access Journals (Sweden)

    Adhe Raka Setiawan

    2015-10-01

    Full Text Available Abstrak: Reaksi Pasar Terhadap Perubahan Dividen dengan Indikator Abnormal Return dan Trading Volume Activity. Penelitian ini bertujuan untuk mengetahui reaksi pasar terhadap perubahan dividen, yaitu dividen tetap, dividen naik, dividen turun, dividen inisiasi, dan dividen omisi dengan indikator abnormal return dan trading volume activity pada perusahaan yang terdaftar di Bursa Efek Indonesia pada sektor properti, real estate, dan konstruksi bangunan periode 1998-2015. Penelitian ini menggunakan desain event study, di mana dilakukan pengamatan 5 hari sebelum dan 5 hari sesudah peristiwa. Analisis data yang digunakan dalam penelitian ini adalah Uji Paired Sample t-test. Hasil penelitian menunjukkan bahwa hanya dividen tetap dan dividen inisiasi dengan indikator trading volume activity terjadi reaksi pasar secara signifikan. Hasil penelitian ini juga menunjukkan bahwa untuk melihat reaksi pasar lebih baik menggunakan indikator trading volume activity dari pada abnormal return. Kata kunci: dividen, abnormal return, trading volume activity. Abstract: Market Reaction to Dividend Change with Abnormal Return and Trading Volume Activity as Indicators. The aim of this study is to find the influence of dividend change on market reaction, which are fixed dividend, rise dividend, fall dividend, initiation dividend, and omission dividend with abnormal return and trading volume activity as indicators at the companies listed in Indonesian Stock Exchange in property, real estate, and building construction sectors in 1998-2015. This study employs event study, in which it is observed within 5 days before and 5 days after the event date. Paired Sample t-test is utilized to analyze the data. The results show that fixed dividend and initiation dividend using average trading volume activity have significant effect on market reaction. Furthermore, it also suggests that to comprehend market reaction, trading volume activity is better indicator rather than abnormal

  6. Asset price and trade volume relation in artificial market impacted by value investors

    Science.gov (United States)

    Tangmongkollert, K.; Suwanna, S.

    2016-05-01

    The relationship between return and trade volume has been of great interests in a financial market. The appearance of asymmetry in the price-volume relation in the bull and bear market is still unsettled. We present a model of the value investor traders (VIs) in the double auction system, in which agents make trading decision based on the pseudo fundamental price modelled by sawtooth oscillations. We investigate the system by two different time series for the asset fundamental price: one corresponds to the fundamental price in a growing phase; and the other corresponds to that in a declining phase. The simulation results show that the trade volume is proportional to the difference between the market price and the fundamental price, and that there is asymmetry between the buying and selling phases. Furthermore, the selling phase has more significant impact of price on the trade volume than the buying phase.

  7. The Nexus between Trading Volume and Stock Prices: Panel Evidence from OECD Countries

    Directory of Open Access Journals (Sweden)

    Feyyaz Zeren

    2016-01-01

    Full Text Available In this study, the nexus between trading volume stock prices has been examined using panel causality test developed by Dumitrescu-Hurlin (2012 in OECD countries. As a result of a study which 12 countries are tested and monthly data of total 100 terms, it has stated that the causality from stock market index to trading volume. While this study shows that the positive or negative changes in the stock prices create trading volume on stock markets, it is clearly seen that trading volume doesn’t affect the stock prices. In this situation, it can be said that positive feedback hypothesis is valid for markets in this analysis. According to these findings efficient market hypothesis is valid for these stock markets.

  8. Investigation of Causal Relationship between Stock Prices and Trading Volume using Toda and Yamamoto Procedure

    Directory of Open Access Journals (Sweden)

    Sushil BAJAJ

    2014-11-01

    Full Text Available The present study probes the relationship between the stock prices and trading volume. For achieving this purpose, daily data of adjusted closing stock prices, trading volume of 39 individual securities and S&P CNX Nifty from January 1, 1998 to May 31, 2013 have been used. In this study, instead of applying ordinary Granger causality test to investigate the relationship between stock prices and trading volume, Toda and Yamamoto (1995 procedure has been applied for analyzing the data. Lag length chosen by AIC and FPE criterion has been insured by running Lagrange Multiplier (LM test and causality determined by Toda and Yamamoto test has also been confirmed by using VAR methodology. Although, Toda and Yamamoto and VAR test produced little dissimilar results, nevertheless, the empirical analysis provides sufficient grounds to declare the presence of interaction between stock prices and trading volume.

  9. The influence of trading volume on market efficiency: The DCCA approach

    Science.gov (United States)

    Sukpitak, Jessada; Hengpunya, Varagorn

    2016-09-01

    For a single market, the cross-correlation between market efficiency and trading volume, which is an indicator of market liquidity, is attentively analysed. The study begins with creating time series of market efficiency by applying time-varying Hurst exponent with one year sliding window to daily closing prices. The time series of trading volume corresponding to the same time period used for the market efficiency is derived from one year moving average of daily trading volume. Subsequently, the detrended cross-correlation coefficient is employed to quantify the degree of cross-correlation between the two time series. It was found that values of cross-correlation coefficient of all considered stock markets are close to 0 and are clearly out of range in which correlation being considered significant in almost every time scale. Obtained results show that the market liquidity in term of trading volume hardly has effect on the market efficiency.

  10. Joint dynamics of prices and trading volume on the Polish stock market:

    OpenAIRE

    Henryk Gurgul; Pawel Majdosz; Roland Mestel

    2005-01-01

    This paper concerns the relationship between stock returns and trading volume. We use daily stock data of the Polish companies included in the WIG20 segment (the twenty most liquid companies quoted on the primary market of the Warsaw Stock Exchange). The sample covers the period from January 1995 to April 2005. We find that there is no empirical support for a relationship between stock return levels and trading volume. On the other hand, our calculations provide evidence for a significant con...

  11. TRADE instructional materials for SARA/OSHA training. Volume 2, Managers and supervisors training

    Energy Technology Data Exchange (ETDEWEB)

    1989-03-01

    This document provides instructional materials for an eight-hour training course for managers and supervisors of hazardous waste sites. It is one of three volumes of course materials TRADE is preparing to help DOE contractor training staff comply with 29 CFR 1910.120, the Occupational Health and Safety Administration (OSHA) rule that implements Title I of the Superfund Amendments and Reauthorization Act (SARA) of 1986. OSHA`s final rule for hazardous waste operators was published in the Federal Register of March 6, 1989 (54 FR 9294). Combined with the materials in Volumes I and III and with appropriate site-specific information, these materials will help DOE contractors to meet the requirements of 1910.120 (e) that ``on-site management and supervisors directly responsible for, or who supervise employees engaged in, hazardous waste operations`` receive the same initial training as that of the employees they supervise and at least eight additional hours of specialized training in managing hazardous waste operations.

  12. Intraday seasonalities and nonstationarity of trading volume in financial markets: Collective features.

    Science.gov (United States)

    Graczyk, Michelle B; Duarte Queirós, Sílvio M

    2017-01-01

    Employing Random Matrix Theory and Principal Component Analysis techniques, we enlarge our work on the individual and cross-sectional intraday statistical properties of trading volume in financial markets to the study of collective intraday features of that financial observable. Our data consist of the trading volume of the Dow Jones Industrial Average Index components spanning the years between 2003 and 2014. Computing the intraday time dependent correlation matrices and their spectrum of eigenvalues, we show there is a mode ruling the collective behaviour of the trading volume of these stocks whereas the remaining eigenvalues are within the bounds established by random matrix theory, except the second largest eigenvalue which is robustly above the upper bound limit at the opening and slightly above it during the morning-afternoon transition. Taking into account that for price fluctuations it was reported the existence of at least seven significant eigenvalues-and that its autocorrelation function is close to white noise for highly liquid stocks whereas for the trading volume it lasts significantly for more than 2 hours -, our finding goes against any expectation based on those features, even when we take into account the Epps effect. In addition, the weight of the trading volume collective mode is intraday dependent; its value increases as the trading session advances with its eigenversor approaching the uniform vector as well, which corresponds to a soar in the behavioural homogeneity. With respect to the nonstationarity of the collective features of the trading volume we observe that after the financial crisis of 2008 the coherence function shows the emergence of an upset profile with large fluctuations from that year on, a property that concurs with the modification of the average trading volume profile we noted in our previous individual analysis.

  13. Information-driven trade and price-volume relationship in artificial stock markets

    Science.gov (United States)

    Liu, Xinghua; Liu, Xin; Liang, Xiaobei

    2015-07-01

    The positive relation between stock price changes and trading volume (price-volume relationship) as a stylized fact has attracted significant interest among finance researchers and investment practitioners. However, until now, consensus has not been reached regarding the causes of the relationship based on real market data because extracting valuable variables (such as information-driven trade volume) from real data is difficult. This lack of general consensus motivates us to develop a simple agent-based computational artificial stock market where extracting the necessary variables is easy. Based on this model and its artificial data, our tests have found that the aggressive trading style of informed agents can produce a price-volume relationship. Therefore, the information spreading process is not a necessary condition for producing price-volume relationship.

  14. Breckinridge Project, initial effort. Report III, Volume 2. Specifications

    Energy Technology Data Exchange (ETDEWEB)

    None

    1982-01-01

    Report III, Volume 2 contains those specifications numbered K through Y, as follows: Specifications for Compressors (K); Specifications for Piping (L); Specifications for Structures (M); Specifications for Insulation (N); Specifications for Electrical (P); Specifications for Concrete (Q); Specifications for Civil (S); Specifications for Welding (W); Specifications for Painting (X); and Specifications for Special (Y). The standard specifications of Bechtel Petroleum Incorporated have been amended as necessary to reflect the specific requirements of the Breckinridge Project and the more stringent specifications of Ashland Synthetic Fuels, Inc. These standard specifications are available for the Initial Effort (Phase Zero) work performed by all contractors and subcontractors.

  15. China and Slovenia Expecting More Bilateral Trade Volumes

    Institute of Scientific and Technical Information of China (English)

    Yan Manman

    2010-01-01

    @@ On June 25, China-Slovenia Economic and Trade Forum was held in Beijing. The Financial Minister of Slovenia attended and addressed the forum. He said that Slovenia was politically stable and kept sustainable economic growth. Owing to the advantageous geographic position, Chinese enterprises not only could invest in Slovenia, but also could take Slovenia as the gate and transfer station towards the EU market.

  16. Minerals Yearbook, volume III, Area Reports—International

    Science.gov (United States)

    ,

    2017-01-01

    The U.S. Geological Survey (USGS) Minerals Yearbook discusses the performance of the worldwide minerals and materials industries and provides background information to assist in interpreting that performance. Content of the individual Minerals Yearbook volumes follows:Volume I, Metals and Minerals, contains chapters about virtually all metallic and industrial mineral commodities important to the U.S. economy. Chapters on survey methods, summary statistics for domestic nonfuel minerals, and trends in mining and quarrying in the metals and industrial mineral industries in the United States are also included.Volume II, Area Reports: Domestic, contains a chapter on the mineral industry of each of the 50 States and Puerto Rico and the Administered Islands. This volume also has chapters on survey methods and summary statistics of domestic nonfuel minerals.Volume III, Area Reports: International, is published as four separate reports. These regional reports contain the latest available minerals data on more than 180 foreign countries and discuss the importance of minerals to the economies of these nations and the United States. Each report begins with an overview of the region’s mineral industries during the year. It continues with individual country chapters that examine the mining, refining, processing, and use of minerals in each country of the region and how each country’s mineral industry relates to U.S. industry. Most chapters include production tables and industry structure tables, information about Government policies and programs that affect the country’s mineral industry, and an outlook section.The USGS continually strives to improve the value of its publications to users. Constructive comments and suggestions by readers of the Minerals Yearbook are welcomed.

  17. Information and Heterogeneous Beliefs: Cost of Capital, Trading Volume, and Investor Welfare

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Qin, Zhenjiang

    In an incomplete market setting with heterogeneous prior beliefs, we show that public information can have a substantial impact on the ex ante cost of capital, trading volume, and investor welfare. In a model with exponential utility investors and an asset with a normally distributed dividend......, the Pareto efficient public information system is the system which enjoys the maximum ex ante cost of capital, and the maximum expected abnormal trading volume. The public information system facilitates improved dynamic trading opportunities based on heterogeneously updated posterior beliefs in order to take...... information system. In an effectively complete market setting, in which investors do not need to trade dynamically in order to take full advantage of their differences in beliefs, the ex ante cost of capital and the investor welfare are both higher than in the incomplete market setting...

  18. Information and Heterogeneous Beliefs: Cost of Capital, Trading Volume, and Investor Welfare

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Qin, Zhenjiang

    In an incomplete market setting with heterogeneous prior beliefs, we show that public information can have a substantial impact on the ex ante cost of capital, trading volume, and investor welfare. In a model with exponential utility investors and an asset with a normally distributed dividend...... information system. In an effectively complete market setting, in which investors do not need to trade dynamically in order to take full advantage of their differences in beliefs, the ex ante cost of capital and the investor welfare are both higher than in the incomplete market setting......, the Pareto efficient public information system is the system which enjoys the maximum ex ante cost of capital, and the maximum expected abnormal trading volume. The public information system facilitates improved dynamic trading opportunities based on heterogeneously updated posterior beliefs in order to take...

  19. Intraday Seasonalities and Nonstationarity of Trading Volume in Financial Markets: Individual and Cross-Sectional Features

    Science.gov (United States)

    Graczyk, Michelle B.; Duarte Queirós, Sílvio M.

    2016-01-01

    We study the intraday behaviour of the statistical moments of the trading volume of the blue chip equities that composed the Dow Jones Industrial Average index between 2003 and 2014. By splitting that time interval into semesters, we provide a quantitative account of the nonstationary nature of the intraday statistical properties as well. Explicitly, we prove the well-known ∪-shape exhibited by the average trading volume—as well as the volatility of the price fluctuations—experienced a significant change from 2008 (the year of the “subprime” financial crisis) onwards. That has resulted in a faster relaxation after the market opening and relates to a consistent decrease in the convexity of the average trading volume intraday profile. Simultaneously, the last part of the session has become steeper as well, a modification that is likely to have been triggered by the new short-selling rules that were introduced in 2007 by the Securities and Exchange Commission. The combination of both results reveals that the ∪ has been turning into a ⊔. Additionally, the analysis of higher-order cumulants—namely the skewness and the kurtosis—shows that the morning and the afternoon parts of the trading session are each clearly associated with different statistical features and hence dynamical rules. Concretely, we claim that the large initial trading volume is due to wayward stocks whereas the large volume during the last part of the session hinges on a cohesive increase of the trading volume. That dissimilarity between the two parts of the trading session is stressed in periods of higher uproar in the market. PMID:27812141

  20. N+3 Aircraft Concept Designs and Trade Studies. Volume 1

    Science.gov (United States)

    Greitzer, E. M.; Bonnefoy, P. A.; DelaRosaBlanco, E.; Dorbian, C. S.; Drela, M.; Hall, D. K.; Hansman, R. J.; Hileman, J. I.; Liebeck, R. H.; Levegren, J.; Mody, P.; Pertuze, J. A.; Sato, S.; Spakovszky, Z. S.; Tan, C. S.; Hollman, J. S.; Duda, J. E.; Fitzgerald, N.; Houghton, J.; Kerrebrock, J. L.; Kiwada, G. F.; Kordonowy, D.; Parrish, J. C.; Tylko, J.; Wen, E. A.

    2010-01-01

    MIT, Aerodyne Research, Aurora Flight Sciences, and Pratt & Whitney have collaborated to address NASA s desire to pursue revolutionary conceptual designs for a subsonic commercial transport that could enter service in the 2035 timeframe. The MIT team brings together multidisciplinary expertise and cutting-edge technologies to determine, in a rigorous and objective manner, the potential for improvements in noise, emissions, and performance for subsonic fixed wing transport aircraft. The collaboration incorporates assessment of the trade space in aerodynamics, propulsion, operations, and structures to ensure that the full spectrum of improvements is identified. Although the analysis focuses on these key areas, the team has taken a system-level approach to find the integrated solutions that offer the best balance in performance enhancements. Based on the trade space analyses and system-level assessment, two aircraft have been identified and carried through conceptual design to show both the in-depth engineering that underpins the benefits envisioned and also the technology paths that need to be followed to enable, within the next 25 years, the development of aircraft three generations ahead in capabilities from those flying today.

  1. ABNORMAL RETURN TRADING VOLUME ACTIVITY PADA PERISTIWA AMBRUKNYA FANNIE MAE DAN FREDDIE MAC

    Directory of Open Access Journals (Sweden)

    Dyah Ani Pangastuti

    2017-03-01

    Full Text Available The global economic crisis was a disaster for all nations in the world due to itsimpact once seemed to hamper the economy of a nation. This research studied the eventsthat would see if there was an effect of global economic crisis preceded by the U.S. Financialcrisis was triggered by the collapse of Fannie Mae and Freddie Mac in the property business(subprime mortgages on September 7th, 2008. This study used samples that had been pub-licly traded company listed on the Indonesia Stock Exchange and entered into the sequenceof LQ-45 in the year of 2008. Hypothesis testing used was t-test on the average abnormalreturn and average trading volume of activity. Test results for the average abnormal returnshowed there were no significant differences before and after the Subprime Mortgage. Thetest results for the average trading volume of activity indicated the presence of a significantdifference before and after the Subprime Mortgage.

  2. Modern Mathematics as Applied to Machine Trades: Volumes 1 and 2.

    Science.gov (United States)

    Hale, Guy J.; And Others

    Through a research grant funded by the Vocational Division of the Indiana State Department of Public Instruction, a developmental research project was undertaken to develop machine trades-related mathematics materials using the terminology, concepts, and methods of modern mathematics. The two volume set is designed to be utilized by first and…

  3. Bid-Ask Spreads, Trading Volume and Return Volatility: Intraday Evidence from Indian Stock Market

    Directory of Open Access Journals (Sweden)

    Rashmi Ranjan Paital

    2016-01-01

    Full Text Available This paper empirically examines the relationship between stock return volatility, trading volume and bid-ask spread within the scope of mixture of distribution hypothesis (MDH and sequential information arrival hypothesis (SIAH in the Indian stock market using high frequency 5-minute data set over the period of 2 July 2012 to 31 December 2012. This is the first kind of study in India using bid-ask spread as an additional information variable along with trading volume to investigate the relationship with stock return volatility. Our empirical findings provide evidence of a positive contemporaneous relationship between return volatility and trading volume, and also between return volatility and bid-ask spread. Moreover, the results of Granger causality test show that the information content of trading volume and bid-ask spread are useful for predicting stock return volatility. Our results indicate that information arrival to investors tends to follow a sequential rather than a simultaneous process. This finding is consistent with the sequential information arrival hypothesis and contradicts the mixture of distribution hypothesis.

  4. Does price efficiency increase with trading volume? Evidence of nonlinearity and power laws in ETFs

    Science.gov (United States)

    Caginalp, Gunduz; DeSantis, Mark

    2017-02-01

    Whether efficiency increases with increasing volume is an important issue that may illuminate trader strategies and distinguish between market theories. This relationship is tested using 124,236 daily observations comprising 68 large and liquid U.S. equity exchange traded funds (ETFs). ETFs have the advantage that efficiency can be measured in terms of the deviation between the trading price and the underlying net asset value that is reported each day. Our findings support the hypothesis that the relationship between volume and efficiency is nonlinear. Indeed, efficiency increases as volume increases from low to moderately high levels, but then decreases as volume increases further. The first part tends to support the idea that higher volume simply facilitates transactions and maintains efficiency, while the latter part, i.e., even higher volumes, supports the ansatz that increased volume is associated with increased speculation that ignores valuation and decreases efficiency. The results are consistent with the hypothesis that valuation is only part of the motivation for traders. Our methodology accounts for fund heterogeneity and contemporaneous correlations. Similar results are obtained when daily price volatility is introduced as an additional independent variable.

  5. 78 FR 19362 - Requested Administrative Waiver of the Coastwise Trade Laws: Vessel W.L. STEWART III; Invitation...

    Science.gov (United States)

    2013-03-29

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Maritime Administration Requested Administrative Waiver of the Coastwise Trade Laws: Vessel W.L. STEWART... the applicant the intended service of the vessel W.L. STEWART III is: Intended Commercial Use...

  6. Industrial Fuel Gas Demonstration Plant Program. Volume III. Demonstration plant environmental analysis (Deliverable No. 27)

    Energy Technology Data Exchange (ETDEWEB)

    1979-08-01

    An Environmental Report on the Memphis Light, Gas and Water Division Industrial Fuel Demonstration Plant was prepared for submission to the US Department of Energy under Contract ET-77-C-01-2582. This document is Volume III of a three-volume Environmental Report. Volume I consists of the Summary, Introduction and the Description of the Proposed Action. Volume II consists of the Description of the Existing Environment. Volume III contains the Environmental Impacts of the Proposed Action, Mitigating Measures and Alternatives to the Proposed Action.

  7. Stock Market Reactions on Returns and Trading Volume: The Impact of the Global Financial Crisis

    Directory of Open Access Journals (Sweden)

    Asiya Sohail

    2017-01-01

    Full Text Available Objective: This study empirically examines the short term under- and overreaction effect in the Karachi Stock Exchange, Pakistan, in the context of the 2008 Global Financial Crisis considering the period from September 2007 to 2009. Background: Investors’ probable reaction to an anticipated or unforeseen event is gaining immense importance in order to understand the complex market behavior. The arrival of good or bad news can tend to bring about a rise or decline in the stock price even if the news does not directly impact company’s performance. Method: The sample data for the stock price, trading volume and KSE 100 index are obtained from the Karachi Stock Exchange (KSE and Securities and Exchange Commission of Pakistan (SECP websites for the period September 2007 to 2009. To reach our objective, we used event studies. Results: There is evidence of significant overreaction in the first two weeks and significant under- reaction in the 12th and 24th week following specifically in the financial sector. For the non-financial sector, the returns stay positive and insignificant for both the winner and loser portfolios thereby negating any evidence of significant overreaction. Contributions: We wants to contribute to the existing literature, testing the under- and overreaction hypothesis in an emerging market. Our study also attempts to draw attention to any evidence of returns reversal in the loser and winner portfolios based on the trading volume. Investors may capitalize on the trading volume information to earn contrarian profits.

  8. Financial factor influence on scaling and memory of trading volume in stock market.

    Science.gov (United States)

    Li, Wei; Wang, Fengzhong; Havlin, Shlomo; Stanley, H Eugene

    2011-10-01

    We study the daily trading volume volatility of 17,197 stocks in the US stock markets during the period 1989-2008 and analyze the time return intervals τ between volume volatilities above a given threshold q. For different thresholds q, the probability density function P(q)(τ) scales with mean interval 〈τ〉 as P(q)(τ)=〈τ〉(-1)f(τ/〈τ〉), and the tails of the scaling function can be well approximated by a power law f(x)∼x(-γ). We also study the relation between the form of the distribution function P(q)(τ) and several financial factors: stock lifetime, market capitalization, volume, and trading value. We find a systematic tendency of P(q)(τ) associated with these factors, suggesting a multiscaling feature in the volume return intervals. We analyze the conditional probability P(q)(τ|τ(0)) for τ following a certain interval τ(0), and find that P(q)(τ|τ(0)) depends on τ(0) such that immediately following a short (long) return interval a second short (long) return interval tends to occur. We also find indications that there is a long-term correlation in the daily volume volatility. We compare our results to those found earlier for price volatility.

  9. Joint analysis and estimation of stock prices and trading volume in Barndorff-Nielsen and Shephard stochastic volatility models

    OpenAIRE

    Friedrich Hubalek; Petra Posedel

    2008-01-01

    We introduce a variant of the Barndorff-Nielsen and Shephard stochastic volatility model where the non Gaussian Ornstein-Uhlenbeck process describes some measure of trading intensity like trading volume or number of trades instead of unobservable instantaneous variance. We develop an explicit estimator based on martingale estimating functions in a bivariate model that is not a diffusion, but admits jumps. It is assumed that both the quantities are observed on a discrete grid of fixed width, a...

  10. Industrial Maintenance, Volume III. Post Secondary Curriculum Guide.

    Science.gov (United States)

    Butler, Raymond H.; And Others

    This volume is the fourth of four volumes that comprise a curriculum guide for a postsecondary industrial maintenance program. It contains three sections and appendixes. Section 4 provides suggested methods of structuring the curriculum. Suggested ways of recording and documenting student progress are presented in section 5. Section 6 contains…

  11. National Utility Financial Statement model (NUFS). Volume III of III: software description. Final report

    Energy Technology Data Exchange (ETDEWEB)

    1981-10-29

    This volume contains a description of the software comprising the National Utility Financial Statement Model (NUFS). This is the third of three volumes describing NUFS provided by ICF Incorporated under contract DEAC-01-79EI-10579. The three volumes are entitled: model overview and description, user's guide, and software guide.

  12. Effects of Intraday Patterns on Analysis of STOCK Market Index and Trading Volume

    Science.gov (United States)

    Choi, Hyung Wooc; Maeng, Seong Eun; Lee, Jae Woo

    We review the stylized properties of the stock market and consider effects of the intraday patterns on the analysis of the time series for the stock index and the trading volume in Korean stock market. In the stock market the probability distribution function (pdf) of the return and volatility followed the power law for the stock index and the change of the volume traded. The volatility of the stock index showed the long-time memory and the autocorrelation function followed a power law. We applied two eliminating methods of the intraday patterns: the intraday patterns of the time series itself, and the intraday patterns of the absolute return for the index or the absolute volume change. We scaled the index and return by two types of the intraday patterns. We considered the probability distribution function and the autocorrelation function (ACF) for the time series scaled by the intraday patterns. The cumulative probability distribution function of the returns scaled by the intraday patterns showed a power law, P>(r) r-α±, where α± corresponds to the exponent of the positive and negative fat tails. The pdf of the return scaled by intraday patterns by the absolute return decayed much steeper than that of the return scaled by intraday patterns of the index itself. The pdf for the volume change also followed the power law for both methods of eliminating intraday patterns. However, the exponents of the power law at fat tails do not depend on the intraday patterns. The ACF of the absolute return showed long-time correlation and followed the power law for the scaled index and for the scaled volume. The daily periodicity of the ACF was removed for scaled time series by the intraday patterns of the absolute return or the absolute volume change.

  13. Higher Education: Handbook of Theory and Research. Volumes III [and] IV.

    Science.gov (United States)

    Smart, John C., Ed.

    Two volumes of a handbook on theory and research in higher education are presented. The 11 papers included in Volume III are as follows: "Qualitative Research Methods in Higher Education" (R. Crowson); "Bricks and Mortar: Architecture and the Study of Higher Education" (J. Thelin and J. Yankovich); "Enrollment Demand Models and Their Policy Uses…

  14. An Evaluation of the Nutrition Services for the Elderly. Volume III. Descriptive Report.

    Science.gov (United States)

    Kirschner Associates, Inc., Albuquerque, NM.

    This document is part of a five-volume nationwide study of Nutrition Services operations and elderly citizens participating in congregate dining and home delivery services authorized by Title III-C of the Older Americans' Act. A descriptive report is contained in this volume, which presents non-selective and preliminary analysis of the data base…

  15. The effect of tick size on trading volume share in three competing stock markets

    Science.gov (United States)

    Nagumo, Shota; Shimada, Takashi; Ito, Nobuyasu

    2016-09-01

    The relationship between tick sizes and trading volume share in two and three competing markets is studied theoretically. By introducing a simple model which is equipped with multiple markets and non-strategic traders, we analytically calculate the share. It is shown that share is shifted from a market with a larger tick size to a market with a smaller tick size, and the size of share-shift is determined by difference between tick sizes not by ratio between tick sizes in both cases of two markets and three markets.

  16. Temporal variations of serial correlations of trading volume in the US stock market

    Science.gov (United States)

    Alvarez-Ramírez, José; Rodríguez, Eduardo

    2012-08-01

    Serial correlations in the trading volume of the US stock market are investigated in this paper. The use of the detrended fluctuation analysis implemented within a rolling window indicated that, for the period 1929-2011, the strength of correlations exhibits important temporal variations with a trend shift by the 1990s, and 4-year and 21-year cycles. These empirical findings are compared to those obtained for mature international stock markets (FTSE-100 and Nikkei) and discussed in terms of potential economic and financial implications.

  17. Information and Heterogeneous Beliefs: Cost of Capital, Trading Volume, and Investor Welfare

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Qin, Zhenjiang

    In an incomplete market setting with heterogeneous prior beliefs, we show that public information can have a substantial impact on the ex ante cost of capital, trading volume, and investor welfare. In a model with exponential utility investors and an asset with a normally distributed dividend...... advantage of the disagreements and the differences in con…dence among investors. This leads to a higher growth in the investors’certainty equivalents and, thus, a higher equilibrium interest rate, whereas the ex ante risk premium on the risky asset is unaffected by the informativeness of the public...

  18. Workpapers in English as a Second Language, [Volume III].

    Science.gov (United States)

    Bracy, Maryruth, Ed.

    This volume contains the 1969 working papers on subjects related to teaching English as a second language (TESL) and abstracts of Masters Theses completed by students studying TESL. Several articles discuss teaching and learning a second language and practical considerations in second language learning such as reading and writing skills, the use…

  19. Council on Anthropology and Education Newsletter. Volume III, Number 1.

    Science.gov (United States)

    Singleton, John Ed.

    General information on format, included, materials, broad concerns, objectives, and availability of the newsletter are described in Volume I, ED 048 049. This issue focuses on ethnology, offering two papers presented at the American Anthropological Association symposiums. The lead paper presents a psycho-cultural developmental approach to the…

  20. Albanian: Basic Course. Volume III, Lessons 27-36.

    Science.gov (United States)

    Defense Language Inst., Monterey, CA.

    This third of ten volumes of audiolingual classroom instruction in Albanian for adult students treats Albanian grammar, syntax, and usage in a series of exercises consisting of grammar perception drills, grammar analysis, translation exercises, readings, question-and-answer exercises, and dialogues illustrating specific grammatical features. A…

  1. Network analysis of returns and volume trading in stock markets: The Euro Stoxx case

    Science.gov (United States)

    Brida, Juan Gabriel; Matesanz, David; Seijas, Maria Nela

    2016-02-01

    This study applies network analysis to analyze the structure of the Euro Stoxx market during the long period from 2002 up to 2014. The paper generalizes previous research on stock market networks by including asset returns and volume trading as the main variables to study the financial market. A multidimensional generalization of the minimal spanning tree (MST) concept is introduced, by adding the role of trading volume to the traditional approach which only includes price returns. Additionally, we use symbolization methods to the raw data to study the behavior of the market structure in different, normal and critical, situations. The hierarchical organization of the network is derived, and the MST for different sub-periods of 2002-2014 is created to illustrate how the structure of the market evolves over time. From the structural topologies of these trees, different clusters of companies are identified and analyzed according to their geographical and economic links. Two important results are achieved. Firstly, as other studies have highlighted, at the time of the financial crisis after 2008 the network becomes a more centralized one. Secondly and most important, during our second period of analysis, 2008-2014, we observe that hierarchy becomes more country-specific where different sub-clusters of stocks belonging to France, Germany, Spain or Italy are found apart from their business sector group. This result may suggest that during this period of time financial investors seem to be worried most about country specific economic circumstances.

  2. Analysis of Right Issue Announcement Effect toward Stock Price Movement and Stock Trading Volume within Issuer in Indonesia Stock Exchange

    Directory of Open Access Journals (Sweden)

    Wilson Yaputra Yakup

    2016-05-01

    Full Text Available The purpose of this study were to identify and analyze the rights issue effect to the stock price, the effect of the rights issue on stock trading volume, the correlation between stock prices before and after the right issue, as well as the correlation between volume of trading activity before the right issue and after that event. The objects of the study are the companies listed on Indonesia Stock Exchange (JSX. The hypothesis stated that right issues have a significant effect on stock price on companies listed on the JSX, rights issues have a significant effect on the stock trading volume on companies listed on the JSX, there is a significant correlation between stock price before and after the rights issue on companies listed in JSX, there is a significant correlation between volume of the stock trading before the rights issue and after that event. Data analysis used were descriptive statistics, simple linear regression analysis and paired t-test. Hypothesis testing was performed by using the Pearson correlation test with significance level of 5%. The results show that the right issue has a positive effect but not significant toward stock prices of companies listed in JSX, right issue has a negative effect and not significant toward the trading volume activity (TVA on companies listed in JSX.

  3. FORECASTING CHINA'S FOREIGN TRADE VOLUME WITH A KERNEL-BASED HYBRID EC-ONOMETRIC-AI ENSEMBLE LEARNING APPROACH

    Institute of Scientific and Technical Information of China (English)

    Lean YU; Shouyang WANG; Kin Keung LAI

    2008-01-01

    Due to the complexity of economic system and the interactive effects between all kinds of economic variables and foreign trade, it is not easy to predict foreign trade volume. However, the difficulty in predicting foreign trade volume is usually attributed to the limitation of many conventional forecasting models. To improve the prediction performance, the study proposes a novel kernel-based ensemble learning approach hybridizing econometric models and artificial intelligence (AI) models to predict China's foreign trade volume. In the proposed approach, an important econometric model, the co-integration-based error correction vector auto-regression (EC-VAR) model is first used to capture the impacts of all kinds of economic variables on Chinese foreign trade from a multivariate linear anal-ysis perspective. Then an artificial neural network (ANN) based EC-VAR model is used to capture the nonlinear effects of economic variables on foreign trade from the nonlinear viewpoint. Subsequently, for incorporating the effects of irregular events on foreign trade, the text mining and expert's judgmental adjustments are also integrated into the nonlinear ANN-based EC-VAR model. Finally, all kinds of economic variables, the outputs of linear and nonlinear EC-VAR models and judgmental adjustment model are used as input variables of a typical kernel-based support vector regression (SVR) for en-semble prediction purpose. For illustration, the proposed kernel-based ensemble learning methodology hybridizing econometric techniques and AI methods is applied to China's foreign trade volume predic-tion problem. Experimental results reveal that the hybrid econometric-AI ensemble learning approach can significantly improve the prediction performance over other linear and nonlinear models listed in this study.

  4. An Independent Scientific Assessment of Well Stimulation in California Volume III

    Energy Technology Data Exchange (ETDEWEB)

    Long, Jane C.S. [California Council on Science and Technology, Sacramento, CA (United States); Feinstein, Laura C. [California Council on Science and Technology, Sacramento, CA (United States); Birkholzer, Jens [California Council on Science and Technology, Sacramento, CA (United States); Foxall, William [California Council on Science and Technology, Sacramento, CA (United States); Houseworth, James [California Council on Science and Technology, Sacramento, CA (United States); Jordan, Preston [California Council on Science and Technology, Sacramento, CA (United States); Lindsey, Nathaniel [California Council on Science and Technology, Sacramento, CA (United States); Maddalena, Randy [California Council on Science and Technology, Sacramento, CA (United States); McKone, Thomas [California Council on Science and Technology, Sacramento, CA (United States); Stringfellow, William [California Council on Science and Technology, Sacramento, CA (United States); Ulrich, Craig [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Heberger, Matthew [Pacific Inst., Oakland, CA (United States); Shonkoff, Seth [PSE Healthy Energy, Berkeley, CA (United States); Brandt, Adam [Stanford Univ., CA (United States); Ferrar, Kyle [The FracTracker Alliance, Oakland, CA (United States); Gautier, Donald [DonGautier LLC., Palo Alto, CA (United States); Phillips, Scott [California State Univ. Stanislaus, Turlock, CA (United States); Greenfield, Ben [Univ. of California, Berkeley, CA (United States); Jerrett, Michael L.B. [Univ. of California, Los Angeles, CA (United States)

    2015-07-01

    This study is issued in three volumes. Volume I, issued in January 2015, describes how well stimulation technologies work, how and where operators deploy these technologies for oil and gas production in California, and where they might enable production in the future. Volume II, issued in July 2015, discusses how well stimulation could affect water, atmosphere, seismic activity, wildlife and vegetation, and human health. Volume II reviews available data, and identifies knowledge gaps and alternative practices that could avoid or mitigate these possible impacts. Volume III, this volume, presents case studies that assess environmental issues and qualitative risks for specific geographic regions. The Summary Report summarizes key findings, conclusions and recommendations of all three volumes.

  5. The role of information and trading volume on intradaily and weekly returns patterns in the Spanish stock market

    OpenAIRE

    1996-01-01

    The aim of this work is to document new results about intradaily and weekly effects in the Spanish stock market, relating the returns in the stock index, during trading and non trading hours, to the arrival of information and daily trading volume. Weekly and intraday patterns are examined using the index Ibex-35 transaction data. Twenty-three months oftransaction records of the Ibex-35, at 15-minutes intervals, were examined in an attempt to better understand the dayof-the week effect and tra...

  6. Long memory of abnormal investor attention and the cross-correlations between abnormal investor attention and trading volume, volatility respectively

    Science.gov (United States)

    Fan, Xiaoqian; Yuan, Ying; Zhuang, Xintian; Jin, Xiu

    2017-03-01

    Taking Baidu Index as a proxy for abnormal investor attention (AIA), the long memory property in the AIA of Shanghai Stock Exchange (SSE) 50 Index component stocks was empirically investigated using detrended fluctuation analysis (DFA) method. The results show that abnormal investor attention is power-law correlated with Hurst exponents between 0.64 and 0.98. Furthermore, the cross-correlations between abnormal investor attention and trading volume, volatility respectively are studied using detrended cross-correlation analysis (DCCA) and the DCCA cross-correlation coefficient (ρDCCA). The results suggest that there are positive correlations between AIA and trading volume, volatility respectively. In addition, the correlations for trading volume are in general higher than the ones for volatility. By carrying on rescaled range analysis (R/S) and rolling windows analysis, we find that the results mentioned above are effective and significant.

  7. Structural Arrangement Trade Study. Volume 1: Reusable Hydrogen Composite Tank System (RHCTS) and Graphite Composite Primary Structures (GCPS). Executive summary

    Science.gov (United States)

    1995-01-01

    This volume is the first of a three volume set that discusses the structural arrangement trade study plan that will identify the most suitable configuration for an SSTO winged vehicle capable of delivering 25,000 lbs to a 220 nm circular orbit at 51.6 deg inclination. The Reusable Hydrogen Composite Tank System (RHCTS), and Graphite Composite Primary Structures most suitable for intertank, wing and thrust structures are identified. This executive summary presents the trade study process, the selection process, requirements used, analysis performed and data generated. Conclusions and recommendations are also presented.

  8. The Effect of Tick Size on Trading Volume Share in Two Competing Stock Markets

    Science.gov (United States)

    Nagumo, Shota; Shimada, Takashi; Yoshioka, Naoki; Ito, Nobuyasu

    2017-01-01

    The relationship between tick sizes and trading volume shares in competing markets is studied theoretically. By introducing a simple model which is equipped with two markets and non-strategic traders, we analytically calculate the steady states. It is shown that a market with a larger tick size is generally deprived of its share by the competing market. However, if traders' preference for the present market because of its major share is strong enough, the market with a larger tick size has a chance to keep a major share in the steady state. These findings are consistent with the previous results obtained from a more complicated artificial market model and also provide a clear understanding of the basic mechanism of market competition.

  9. Field Operations and Enforcement Manual for Air Pollution Control. Volume III: Inspection Procedures for Specific Industries.

    Science.gov (United States)

    Weisburd, Melvin I.

    The Field Operations and Enforcement Manual for Air Pollution Control, Volume III, explains in detail the following: inspection procedures for specific sources, kraft pulp mills, animal rendering, steel mill furnaces, coking operations, petroleum refineries, chemical plants, non-ferrous smelting and refining, foundries, cement plants, aluminum…

  10. Field Operations and Enforcement Manual for Air Pollution Control. Volume III: Inspection Procedures for Specific Industries.

    Science.gov (United States)

    Weisburd, Melvin I.

    The Field Operations and Enforcement Manual for Air Pollution Control, Volume III, explains in detail the following: inspection procedures for specific sources, kraft pulp mills, animal rendering, steel mill furnaces, coking operations, petroleum refineries, chemical plants, non-ferrous smelting and refining, foundries, cement plants, aluminum…

  11. Technical Reports (Part I). End of Project Report, 1968-1971, Volume III.

    Science.gov (United States)

    Western Nevada Regional Education Center, Lovelock.

    The pamphlets included in this volume are technical reports prepared as outgrowths of the Student Information Systems of the Western Nevada Regional Education Center (WN-REC) funded by a Title III (Elementary and Secondary Education Act) grant. These reports describe methods of interpreting the printouts from the Student Information System;…

  12. Condylar volume and condylar area in class I, class II and class III young adult subjects

    Directory of Open Access Journals (Sweden)

    Saccucci Matteo

    2012-12-01

    Full Text Available Abstract Aim Aim of this study was to compare the volume and the shape of mandibular condyles in a Caucasian young adult population, with different skeletal pattern. Material and methods 200 Caucasian patients (15–30 years old, 95 male and 105 females were classified in three groups on the base of ANB angle: skeletal class I (65 patients, skeletal class II (70 patients and skeletal class III (65 patients. Left and right TMJs of each subject were evaluated independently with CBCT (Iluma. TMJ evaluation included: condylar volume; condylar area; morphological index (MI. Condylar volumes were calculated by using the Mimics software. The condylar volume, the area and the morphological index (MI were compared among the three groups, by using non-parametric tests. Results The Kruskal-Wallis test and the Mann Whitney test revealed that: no significant difference was observed in the whole sample between the right and the left condylar volume; subjects in skeletal class III showed a significantly higher condylar volume, respect to class I and class II subjects (p 3 in males and 663.5 ± 81.3 mm3 in females; p 2 in males and 389.76 ± 61.15 mm2 in females; p  Conclusion Skeletal class appeared to be associated to the mandibular condylar volume and to the mandibular condylar area in the Caucasian orthodontic population.

  13. Feasibility study for biomass power plants in Thailand. Volume 2. appendix: Detailed financial analysis results. Export trade information

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-06-01

    This study, conducted by Black & Veatch, was funded by the U.S. Trade and Development Agency. The report presents a technical and commercial analysis for the development of three nearly identical electricity generating facilities (biomass steam power plants) in the towns of Chachgoengsao, Suphan Buri, and Pichit in Thailand. Volume 2 of the study contains the following appendix: Detailed Financial Analysis Results.

  14. Parameter Analysis of the VPIN (Volume synchronized Probability of Informed Trading) Metric

    Energy Technology Data Exchange (ETDEWEB)

    Song, Jung Heon; Wu, Kesheng; Simon, Horst D.

    2014-03-01

    VPIN (Volume synchronized Probability of Informed trading) is a leading indicator of liquidity-induced volatility. It is best known for having produced a signal more than hours before the Flash Crash of 2010. On that day, the market saw the biggest one-day point decline in the Dow Jones Industrial Average, which culminated to the market value of $1 trillion disappearing, but only to recover those losses twenty minutes later (Lauricella 2010). The computation of VPIN requires the user to set up a handful of free parameters. The values of these parameters significantly affect the effectiveness of VPIN as measured by the false positive rate (FPR). An earlier publication reported that a brute-force search of simple parameter combinations yielded a number of parameter combinations with FPR of 7%. This work is a systematic attempt to find an optimal parameter set using an optimization package, NOMAD (Nonlinear Optimization by Mesh Adaptive Direct Search) by Audet, le digabel, and tribes (2009) and le digabel (2011). We have implemented a number of techniques to reduce the computation time with NOMAD. Tests show that we can reduce the FPR to only 2%. To better understand the parameter choices, we have conducted a series of sensitivity analysis via uncertainty quantification on the parameter spaces using UQTK (Uncertainty Quantification Toolkit). Results have shown dominance of 2 parameters in the computation of FPR. Using the outputs from NOMAD optimization and sensitivity analysis, We recommend A range of values for each of the free parameters that perform well on a large set of futures trading records.

  15. Occupational Survey Report. Volume III. Programming Specialty, AFS 511X1.

    Science.gov (United States)

    1980-05-01

    ROGRAMMING 1SPECIALTY _ ".T\\ I , , ~AFPT 90-511-413 q ’VOLUME III OF III ON -Y 1980’ ’ q -ppT edfor public releaw; is: OCCUPATIONAL ANALYSIS PROGRAM ,"’ USAF...i I..... i l HI I . .. I Ij. ASSISTANT PROGRAMMING NCOICs (GRP308) PERCENT MEMBERS RF,-.N i:\\I’IVF ’ASKS PERFORMING L BEl k k ,,it’FR PROGRkM.S 96...EAVE OR LIBERfY 79 SilON,,, K NCOM ING PERSONNEl. 79 ODIF + UPDATE FXISI’ING COMPUTER PROGRAMS 75 REVIEW ,RA. SPECIFICATIONS 75 PREPARE PFIAl IEi) FLOW

  16. Trading Volume Trend As the Investor’s Sentiment Indicator in Istanbul Stock Exchange = Trading Volume Trend As the Investor’s Sentiment Indicator in Istanbul Stock Exchange / İstanbul Menkul Kıymetler Borsasında Yatırımcı Duyarlılığı Göstergesi Olarak İşlem Hacmi Trendi

    OpenAIRE

    2012-01-01

    This study relates the changes of trading volume to investor sentiment, and investigates its ability in predicting stock returns. Investor sentiment is the enthusiasm of irrational investors on an asset, relative to that of rational investors. Having investigated the effects of Investor Sentiment on Stock Prices, Baker and Stein argued that an increase in trading volume reflects a rise in investor sentiment, which can be defined as the change in trading volume per unit of time; called the tra...

  17. Hanford spent nuclear fuel project recommended path forward, volume III: Alternatives and path forward evaluation supporting documentation

    Energy Technology Data Exchange (ETDEWEB)

    Fulton, J.C.

    1994-10-01

    Volume I of the Hanford Spent Nuclear Fuel Project - Recommended Path Forward constitutes an aggressive series of projects to construct and operate systems and facilities to safely retrieve, package, transport, process, and store K Basins fuel and sludge. Volume II provided a comparative evaluation of four Alternatives for the Path Forward and an evaluation for the Recommended Path Forward. Although Volume II contained extensive appendices, six supporting documents have been compiled in Volume III to provide additional background for Volume II.

  18. Condylar volume and condylar area in class I, class II and class III young adult subjects

    OpenAIRE

    Saccucci Matteo; D’Attilio Michele; Rodolfino Daria; Festa Felice; Polimeni Antonella; Tecco Simona

    2012-01-01

    Abstract Aim Aim of this study was to compare the volume and the shape of mandibular condyles in a Caucasian young adult population, with different skeletal pattern. Material and methods 200 Caucasian patients (15–30 years old, 95 male and 105 females) were classified in three groups on the base of ANB angle: skeletal class I (65 patients), skeletal class II (70 patients) and skeletal class III (65 patients). Left and right TMJs of each subject were evaluated independently with CBCT (Iluma). ...

  19. Energy extension service pilot program evaluation report: the first year. Volume III: supplementary reports

    Energy Technology Data Exchange (ETDEWEB)

    None

    1979-09-01

    The appendices presented in this volume support and supplement Volume I of the Energy Extension Service Pilot Program Evaluation Report: The First Year. The appendices contain back-up data and detailed information on energy savings estimation and other analytic procedures. This volume also describes the data sources used for the evaluation. Appendix I presents the Btu estimation procedures used to calculate state-by-state energy savings. Appendix II contains details of the data sources used for the evaluation. Appendix III presents program activity data, budget, and cost per client analyses. Appendix IV, the Multivariate Analysis of EES Survey Data, provides the basis for the Integrating Statistical Analyses. Appendix V describes the rationale and exclusion rules for outlying data points. The final appendix presents program-by-program fuel costs and self-reported savings and investment.

  20. Structural arrangement trade study. Volume 3: Reusable Hydrogen Composite Tank System (RHCTS) and Graphite Composite Primary Structures (GCPS). Addendum

    Science.gov (United States)

    1995-01-01

    This volume is the third of a 3 volume set that addresses the structural trade study plan that will identify the most suitable structural configuration for an SSTO winged vehicle capable of delivering 25,000 lbs to a 220 nm circular orbit at 51.6 deg inclination. The most suitable Reusable Hydrogen Composite Tank System (RHCTS), and Graphite Composite Tank System (GCPS) composite materials for intertank, wing and thrust structures are identified. Vehicle resizing charts, selection criteria and back-up charts, parametric costing approach and the finite element method analysis are discussed.

  1. Human life support during interplanetary travel and domicile. III - Mars expedition system trade study

    Science.gov (United States)

    Seshan, P. K.; Ferrall, Joseph F.; Rohatgi, Naresh K.

    1991-01-01

    Several alternative configurations of life-support systems (LSSs) for a Mars missions are compared analytically on a quantitative basis in terms of weight, volume, and power. A baseline technology set is utilized for the illustrations of systems including totally open loop, carbon dioxide removal only, partially closed loop, and totally closed loop. The analytical model takes advantage of a modular, top-down hierarchical breakdown of LSS subsystems into functional elements that represent individual processing technologies. The open-loop systems are not competitive in terms of weight for both long-duration orbiters and short-duration lander vehicles, and power demands are lowest with the open loop and highest with the closed loop. The closed-loop system can reduce vehicle weight by over 70,000 lbs and thereby overcome the power penalty of 1600 W; the closed-loop variety is championed as the preferred system for a Mars expedition.

  2. Trading Volume Trend As the Investor’s Sentiment Indicator in Istanbul Stock Exchange = Trading Volume Trend As the Investor’s Sentiment Indicator in Istanbul Stock Exchange / İstanbul Menkul Kıymetler Borsasında Yatırımcı Duyarlılığı Göstergesi Olarak İşlem Hacmi Trendi

    Directory of Open Access Journals (Sweden)

    Oktay TAŞ

    2012-11-01

    Full Text Available This study relates the changes of trading volume to investor sentiment, and investigates its ability in predicting stock returns. Investor sentiment is the enthusiasm of irrational investors on an asset, relative to that of rational investors. Having investigated the effects of Investor Sentiment on Stock Prices, Baker and Stein argued that an increase in trading volume reflects a rise in investor sentiment, which can be defined as the change in trading volume per unit of time; called the trading volume trend, it can be used as a measure of investor sentiment on individual stocks. This work aims to find out the volume trend characteristics of all listed equities in the Istanbul Stock Exchange. Results suggest that almost all beta coefficients of volume trend values have positive signs, which reflects the positive contribution of volume changes on the corresponding stock returns.

  3. World Energy Data System (WENDS). Volume III. Country data, LY-PO

    Energy Technology Data Exchange (ETDEWEB)

    None

    1979-06-01

    The World Energy Data System contains organized data on those countries and international organizations that may have critical impact on the world energy scene. Included in this volume, Vol. III, are Libya, Luxembourg, Malaysia, Mexico, Netherlands, New Zealand, Niger, Nigeria, Norway, Pakistan, Peru, Philippines, Poland, and Portugal. The following topics are covered for most of the countries: economic, demographic, and educational profiles; energy policy; indigenous energy resources and uses; forecasts, demand, exports, imports of energy supplies; environmental considerations of energy supplies; power production facilities; energy industries; commercial applications of energy; research and development activities of energy; and international activities.

  4. 50 CFR 23.4 - What are Appendices I, II, and III?

    Science.gov (United States)

    2010-10-01

    ... WILDLIFE AND PLANTS (CONTINUED) CONVENTION ON INTERNATIONAL TRADE IN ENDANGERED SPECIES OF WILD FAUNA AND FLORA (CITES) Introduction § 23.4 What are Appendices I, II, and III? Species are listed by the Parties... volume and type of trade to ensure trade is legal and not detrimental to the survival of the......

  5. Price duration versus trading volume in high-frequency data for selected DAX companies

    Directory of Open Access Journals (Sweden)

    Christoph Mitterer

    2016-12-01

    Full Text Available The properties of the time series of durations between consecutive trades of a particular stock have been studied by many contributors in the literature of financial econometrics. Among them are highly prominent scientists like Engle (2000 and Gourieroux and Jasiak (2001. The importance of this topic, accompanied by the growing availability of (ultra-high-frequency data, has prompted an increase of contributions in recent years. Intensive research based on high-frequency data has several financial motivations. First of all, it is linked with microstructure theory. Secondly, it contributes to the literature on stochastic time deformation. But the most important need for research on the dynamics of trade durations is the necessity to manage liquidity risk. The reason is that durations between the following trades are a widely accepted measures of market liquidity. In addition, their volatility reflects the liquidity risk.

  6. Liquidity and the multiscaling properties of the volume traded on the stock market

    CERN Document Server

    Eisler, Z; Eisler, Zoltan; Kertesz, Janos

    2006-01-01

    We investigate the correlation properties of transaction data from the New York Stock Exchange. The trading activity f(t) of each stock displays a crossover from weaker to stronger correlations at time scales 60-390 minutes. In both regimes, the Hurst exponent H depends logarithmically on the liquidity of the stock, measured by the mean traded value per minute. All multiscaling exponents tau(q) display a similar liquidity dependence, which clearly indicates the lack of a universal form assumed by other studies. The origin of this behavior is both the long memory in the frequency and the size of consecutive transactions.

  7. Minerals Yearbook, volume III, Area Reports—International—Latin America and Canada

    Science.gov (United States)

    ,

    2017-01-01

    The U.S. Geological Survey (USGS) Minerals Yearbook discusses the performance of the worldwide minerals and materials industries and provides background information to assist in interpreting that performance. Content of the individual Minerals Yearbook volumes follows:Volume I, Metals and Minerals, contains chapters about virtually all metallic and industrial mineral commodities important to the U.S. economy. Chapters on survey methods, summary statistics for domestic nonfuel minerals, and trends in mining and quarrying in the metals and industrial mineral industries in the United States are also included.Volume II, Area Reports: Domestic, contains a chapter on the mineral industry of each of the 50 States and Puerto Rico and the Administered Islands. This volume also has chapters on survey methods and summary statistics of domestic nonfuel minerals.Volume III, Area Reports: International, is published as four separate reports. These regional reports contain the latest available minerals data on more than 180 foreign countries and discuss the importance of minerals to the economies of these nations and the United States. Each report begins with an overview of the region’s mineral industries during the year. It continues with individual country chapters that examine the mining, refining, processing, and use of minerals in each country of the region and how each country’s mineral industry relates to U.S. industry. Most chapters include production tables and industry structure tables, information about Government policies and programs that affect the country’s mineral industry, and an outlook section.The USGS continually strives to improve the value of its publications to users. Constructive comments and suggestions by readers of the Minerals Yearbook are welcomed.

  8. Minerals Yearbook, volume III, Area Reports—International—Europe and Central Eurasia

    Science.gov (United States)

    Geological Survey, U.S.

    2017-01-01

    The U.S. Geological Survey (USGS) Minerals Yearbook discusses the performance of the worldwide minerals and materials industries and provides background information to assist in interpreting that performance. Content of the individual Minerals Yearbook volumes follows:Volume I, Metals and Minerals, contains chapters about virtually all metallic and industrial mineral commodities important to the U.S. economy. Chapters on survey methods, summary statistics for domestic nonfuel minerals, and trends in mining and quarrying in the metals and industrial mineral industries in the United States are also included.Volume II, Area Reports: Domestic, contains a chapter on the mineral industry of each of the 50 States and Puerto Rico and the Administered Islands. This volume also has chapters on survey methods and summary statistics of domestic nonfuel minerals.Volume III, Area Reports: International, is published as four separate reports. These regional reports contain the latest available minerals data on more than 180 foreign countries and discuss the importance of minerals to the economies of these nations and the United States. Each report begins with an overview of the region’s mineral industries during the year. It continues with individual country chapters that examine the mining, refining, processing, and use of minerals in each country of the region and how each country’s mineral industry relates to U.S. industry. Most chapters include production tables and industry structure tables, information about Government policies and programs that affect the country’s mineral industry, and an outlook section.The USGS continually strives to improve the value of its publications to users. Constructive comments and suggestions by readers of the Minerals Yearbook are welcomed.

  9. Minerals Yearbook, volume III, Area Reports—International—Africa and the Middle East

    Science.gov (United States)

    ,

    2017-01-01

    The U.S. Geological Survey (USGS) Minerals Yearbook discusses the performance of the worldwide minerals and materials industries and provides background information to assist in interpreting that performance. Content of the individual Minerals Yearbook volumes follows:Volume I, Metals and Minerals, contains chapters about virtually all metallic and industrial mineral commodities important to the U.S. economy. Chapters on survey methods, summary statistics for domestic nonfuel minerals, and trends in mining and quarrying in the metals and industrial mineral industries in the United States are also included.Volume II, Area Reports: Domestic, contains a chapter on the mineral industry of each of the 50 States and Puerto Rico and the Administered Islands. This volume also has chapters on survey methods and summary statistics of domestic nonfuel minerals.Volume III, Area Reports: International, is published as four separate reports. These regional reports contain the latest available minerals data on more than 180 foreign countries and discuss the importance of minerals to the economies of these nations and the United States. Each report begins with an overview of the region’s mineral industries during the year. It continues with individual country chapters that examine the mining, refining, processing, and use of minerals in each country of the region and how each country’s mineral industry relates to U.S. industry. Most chapters include production tables and industry structure tables, information about Government policies and programs that affect the country’s mineral industry, and an outlook section.The USGS continually strives to improve the value of its publications to users. Constructive comments and suggestions by readers of the Minerals Yearbook are welcomed.

  10. Foreign Trade

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The Foreign Trade database has monthly volume and value information for US imports, exports, and re-exports of fishery or fishery derived products. Data is...

  11. Astronomy sortie missions definition study. Volume 3, book 2: Appendix: Design analysis and trade studies

    Science.gov (United States)

    1972-01-01

    Backup or supporting data for the design analyses and trade studies which defined the astronomy sortie missions are presented. The subjects discussed are: (1) configuration of space shuttle orbiter, (2) electronic subsystems, (3) electric power requirements, and (4) payload requirements. Mathematical models are developed to illustrate the orbital rendezvous capabilities.

  12. Trade and Technical. Volume II. Access Skills. Vocational Readiness Skills. Missouri LINC. Assessing Vocational Education.

    Science.gov (United States)

    Missouri Univ., Columbia. Dept. of Practical Arts and Vocational-Technical Education.

    This document contains trade and industrial occupations-related materials to help teachers and parents teach access skills to Missouri junior high and high school special needs students who want to pursue a vocational program in auto body repair, auto mechanics, building maintenance and custodial work, diesel mechanics, machinist, small engine…

  13. Proceedings of the symposium to review Volume III of the Annual Report to Congress

    Energy Technology Data Exchange (ETDEWEB)

    Alt, F.; Norland, D.

    1979-01-01

    This report is a transcript of the proceedings of a two-day Symposium, held in the Fall of 1979 at the University of Maryland in order to independently review the 1978 Energy Information Administration (EIA) Annual Report to Congress (ARC), Volume III. Participants included energy forecasting experts from the academic community and the private sector; other Federal, State, and local government energy experts; and Office of Applied Analysis, EIA, staff members. The Symposium and its transcript are a critique of the underlying 1978 ARC assumptions, methodologies, and energy system projections. Discussions cover the short-, mid-, and long-term periods, national and international forecasts, source and consuming sectors and projected economic impacts. 27 figures, 22 tables.

  14. The US market for SO{sub 2} permits: policy implications of the low price and trading volume

    Energy Technology Data Exchange (ETDEWEB)

    Conrad, C.; Kohn, R.E. [Mannheim University, Mannheim (Germany). Lehrstuhl fuer Volkswirtschaftslehre

    1996-12-01

    The price permits to emit SO{sub 2} and the volume of permits traded under the US Acid Rain Program have been lower than anticipated. This can be explained by the creation and distribution of more permits than were initially authorized, by the sale of permits by high cost abaters who are subject to more stringent local emission constraints or who have irreversibly invested in high cost abatement technologies and by the deregulation of the natural gas and railroad industries which, in combination with incentives for cost-cutting under the new market approach to SO{sub 2} control, has lowered marginal costs of abatement curves and made them more uniform across powerplants. The low price of permits and low trading volume are evidence that market approaches to pollution control can be more cost-effective than command and control regulations. The effect of public policies and technological changes on the allowance market are examined in the context of an ideal market in which the equilibrium price of allowances equal the marginal cost of abatement of individual powerplants. Using recent data from Coggins and Swinton (1996), the authors explain the current price of permits with some accuracy. 33 refs., 4 figs., 1 app.

  15. Planning manual for energy resource development on Indian lands. Volume III. Manpower and training

    Energy Technology Data Exchange (ETDEWEB)

    1978-03-01

    This volume addresses ways to bridge the gap between existing tribal skill levels and the skill levels required for higher-paying jobs in energy resource development projects. It addresses opportunities for technical, skilled, and semiskilled employment as well as professional positions, because it is important to have tribal participation at all levels of an operation. Section II, ''Energy-Related Employment Opportunities,'' covers three areas: (1) identification of energy-resource occupations; (2) description of these occupations; and (3) identification of skill requirements by type of occupation. Section III, ''Description of Training Programs,'' also covers three areas: (a) concept of a training-program model; (b) description of various training methods; and (c) an assessment of the cost of training, utilizing different programs. Section IV concentrates on development of a training program for target occupations, skills, and populations. Again this section covers three areas: (i) overview of the development of a skills training program; (ii) identification of target occupations, skills, and populations; and (iii) energy careers for younger tribal members.

  16. Study for Teaching Behavioral Sciences in Schools of Medicine, Volume III: Behavioral Science Perspectives in Medical Education.

    Science.gov (United States)

    American Sociological Association, Washington, DC. Medical Sociology Council.

    Volume III of a study of teaching behavioral sciences in medical school presents perspectives on medical behavioral science from the viewpoints of the several behavioral disciplines (anthropology, psychology, sociology, political science, economics, behavioral biology and medical education). In addition, there is a discussion of translating…

  17. Volume and Direction of the Atlantic Slave Trade, 1650-1870: Estimates by Markov Chain Carlo Analysis

    Directory of Open Access Journals (Sweden)

    Patrick Manning

    2016-03-01

    Full Text Available This article presents methods and results in the application of the Markov Chain Monte Carlo (MCMC analysis to a problem in missing data. The data used here are from The Atlantic Slave Trade Database (TASTD, 2010 version, available online. Of the currently known 35,000 slaving voyages, original data on the size of the cargo of captives exist for some 25 percent of voyage embarkations in Africa and for about 50 percent of arrivals in the Americas. Previous efforts to estimate the missing data (and project the to- tal number of captives who made the transatlantic migration have proceeded through eclectic projections of maximum likelihood estimates of captives per voyage, without error margins. This paper creates new estimates of total mi- grant flow through two methods: one is a formally frequentist set of multiple methods, and the other is through Markov Chain Monte Carlo methodology. Comparison of the three methods, all based on the same raw data, show that the results of the two new methods are fairly close to one another and they yield total flows of migrant captives of more than 20 percent higher than the previous estimates. Quantitative results, presented in simplified graphs and tables within the text and in detailed spreadsheets available online, provide a new estimate of the volume of African embarkations and American arrivals in the transatlantic slave trade for the period from 1650 to 1870, by decade, for eleven African regions of embarkation and seven American and European regions of arrival.

  18. Financial constraints in capacity planning: a national utility regulatory model (NUREG). Volume I of III: methodology. Final report

    Energy Technology Data Exchange (ETDEWEB)

    1981-10-29

    This report develops and demonstrates the methodology for the National Utility Regulatory (NUREG) Model developed under contract number DEAC-01-79EI-10579. It is accompanied by two supporting volumes. Volume II is a user's guide for operation of the NUREG software. This includes description of the flow of software and data, as well as the formats of all user data files. Finally, Volume III is a software description guide. It briefly describes, and gives a listing of, each program used in NUREG.

  19. Generation of predictive price and trading volume patterns in a model of dynamically evolving free market supply and demand

    Directory of Open Access Journals (Sweden)

    J. K. Wang

    2001-01-01

    Full Text Available I present a model of stock market price fluctuations incorporating effects of share supply as a history-dependent function of previous purchases and share demand as a function of price deviation from moving averages. Price charts generated show intervals of oscillations switching amplitude and frequency suddenly in time, forming price and trading volume patterns well-known in market technical analysis. Ultimate price trends agree with traditional predictions for specific patterns. The consideration of dynamically evolving supply and demand in this model resolves the apparent contradiction with the Efficient Market Hypothesis: perceptions of imprecise equity values by a world of investors evolve over non-negligible periods of time, with dependence on price history.

  20. Feasibility study for biomass power plants in Thailand. Volume 1. Main report. Export trade information

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-06-01

    This study, conducted by Black & Veatch, was funded by the U.S. Trade and Development Agency. The report presents a technical and commercial analysis for the development of three nearly identical electricity generating facilities (biomass steam power plants) in the towns of Chachoengsao, Suphan Buri, and Pichit in Thailand. The Main Report is divided into the following sections: (1.0) Executive Study; (2.0) Project Objectives; (3.0) Review of Combustion Technology for Biomass Fueled Steam Generator Units; (4.0) Conceptual Design; (5.0) Plant Descriptions; (6.0) Plant Operations Staffing; (7.0) Project Schedule; (8.0) Project Cost Estimate; (9.0) Financial Analysis; Appendix - Financial Analysis.

  1. Manned remote work station development article. Volume 1, book 2, appendix B: Trade and design definition studies

    Science.gov (United States)

    1979-01-01

    System trades, evaluations, and selection were organized under the appropriate manned remote work station roles and subsystems. Those trades/evaluations that have an impact on simulator fidelity were given emphasis in terms of identifying alternate concepts, making a selection, and defining the system approach. Those trades that do not impact simulator fidelity have the issues delineated and future study requirements identified.

  2. Underground Test Area Subproject Phase I Data Analysis Task. Volume III - Groundwater Recharge and Discharge Data Documentation Package

    Energy Technology Data Exchange (ETDEWEB)

    None

    1996-10-01

    Volume III of the documentation for the Phase I Data Analysis Task performed in support of the current Regional Flow Model, Transport Model, and Risk Assessment for the Nevada Test Site Underground Test Area Subproject contains the data covering groundwater recharge and discharge. Because of the size and complexity of the model area, a considerable quantity of data was collected and analyzed in support of the modeling efforts. The data analysis task was consequently broken into eight subtasks, and descriptions of each subtask's activities are contained in one of the eight volumes that comprise the Phase I Data Analysis Documentation.

  3. Technical and economic assessment of fluidized bed augmented compressed air energy storage system. Volume III. Preconceptual design

    Energy Technology Data Exchange (ETDEWEB)

    Giramonti, A.J.; Lessard, R.D.; Merrick, D.; Hobson, M.J.

    1981-09-01

    A technical and economic assessment of fluidized bed combustion augmented compressed air energy storage systems is presented. The results of this assessment effort are presented in three volumes. Volume III - Preconceptual Design contains the system analysis which led to the identification of a preferred component configuration for a fluidized bed combustion augmented compressed air energy storage system, the results of the effort which transformed the preferred configuration into preconceptual power plant design, and an introductory evaluation of the performance of the power plant system during part-load operation and while load following.

  4. Inside Out. Writings from the Prison Literacy Project. Volumes I-II.

    Science.gov (United States)

    Prison Literacy Project, Philadelphia, PA.

    These two volumes contain writings designed for the new reader who is in prison. Written by both inmates and external volunteers, the material in these volumes includes poems, stories, and short essays that deal with subjects of interest to prison inmates. To help the new reader, easier-to-read pieces are presented first. Titles in volume I are as…

  5. The Allocation of Runway Slots by Auction. Volume III. Theory and Technical Issues for Implementation.

    Science.gov (United States)

    1980-04-15

    air polution , noise, landside traffic c.)ngestion and so on--dictate a different approach at l_ ast for some congested airports (notably Washington...approaches to slot auctions have not allowed for the inter- dependency of slot values to the air carriers--a single slot for a landing of an aircraft is...slot exchange. 17. Key Woeds II. Distrlbution Stmtome Slot, exchange, auction, trading, air Document is available to the public carriers, allocation

  6. How To Set Up Your Own Small Business. Volumes I-II and Overhead Transparencies.

    Science.gov (United States)

    Fallek, Max

    This two-volume textbook and collection of overhead transparency masters is intended for use in a course in setting up a small business. The following topics are covered in the first volume: getting off to a good start, doing market research, forecasting sales, financing a small business, understanding the different legal needs of different types…

  7. Space transfer vehicle concepts and requirements study. Volume 2, book 2: System and program requirements trade studies

    Science.gov (United States)

    Weber, Gary A.; Richards, Bill; Paddock, Greg; Maricich, Peter; Bouton, Bruce; Hagen, Jim; Kolesar, Richard; Hosking, Craig; Dishman, George; Furlong, Mike

    1991-04-01

    During the 90-day study, support was provided to NASA in defining a point-of-departure space transfer vehicle (STV). The resulting STV concept was performance optimized with a two-stage LTV/LEV configuration. Appendix A reports on the effort during this period of the study. From the end of the 90-day study until the March Interim Review, effort was placed on optimizing the two-stage vehicle approach identified in the 90-day effort. After the March Interim Review, the effort was expanded to perform a full architectural trade study with the intent of developing a decision database to support STV system decisions in response to changing SEI infrastructure concepts. Several of the architecture trade studies were combined in a System Architecture Trade Study. In addition to this trade, system optimization/definition trades and analyses were completed and some special topics were addressed. Program- and system-level trade study and analyses methodologies and results are presented in this section. Trades and analyses covered in this section are: (1) a system architecture trade study; (2) evolution; (3) safety and abort considerations; (4) STV as a launch vehicle upper stage; and (5) optimum crew and cargo split.

  8. Space Transfer Vehicle Concepts and Requirements Study. Volume 2, Book 2: System and Program Requirements Trade Studies

    Science.gov (United States)

    Weber, Gary A.; Richards, Bill; Paddock, Greg; Maricich, Peter; Bouton, Bruce; Hagen, Jim; Kolesar, Richard; Hosking, Craig; Dishman, George; Furlong, Mike

    1991-01-01

    During the 90-day study, support was provided to NASA in defining a point-of-departure space transfer vehicle (STV). The resulting STV concept was performance optimized with a two-stage LTV/LEV configuration. Appendix A reports on the effort during this period of the study. From the end of the 90-day study until the March Interim Review, effort was placed on optimizing the two-stage vehicle approach identified in the 90-day effort. After the March Interim Review, the effort was expanded to perform a full architectural trade study with the intent of developing a decision database to support STV system decisions in response to changing SEI infrastructure concepts. Several of the architecture trade studies were combined in a System Architecture Trade Study. In addition to this trade, system optimization/definition trades and analyses were completed and some special topics were addressed. Program- and system-level trade study and analyses methodologies and results are presented in this section. Trades and analyses covered in this section are: (1) a system architecture trade study; (2) evolution; (3) safety and abort considerations; (4) STV as a launch vehicle upper stage; and (5) optimum crew and cargo split.

  9. 75 FR 63724 - Raisins Produced From Grapes Grown in California; Use of Estimated Trade Demand To Compute Volume...

    Science.gov (United States)

    2010-10-18

    ... published in the Federal Register on August 6, 2010 (75 FR 47490), on the use of an estimated trade demand... Register on August 6, 2010 (75 FR 47490), on the establishment of an estimated trade demand figure to..., 2010 (75 FR 47490), is hereby withdrawn. List of Subjects in 7 CFR Part 989 Grapes,...

  10. Germany Enjoys Splendid Trade Partnership with China

    Institute of Scientific and Technical Information of China (English)

    Sun Yongjian

    2005-01-01

    @@ "China and Germany are longterm trade partners, The volume of our bilateral trade has reached more than $54 Million in 2004, Chinese Prime Minister Wen Jiabao and German Chancellor Gerhard Schroder have agreed to double our bilateral trade volume by the year 2010." Dr. Volker Stanzel,German Ambassador gave an active appraise on the bilateral trade relations when interviewed by China's Foreign Trade.

  11. The International Trade Network

    OpenAIRE

    Bhattacharya, K.; Mukherjee, G.; Manna, S. S.

    2007-01-01

    Bilateral trade relationships in the international level between pairs of countries in the world give rise to the notion of the International Trade Network (ITN). This network has attracted the attention of network researchers as it serves as an excellent example of the weighted networks, the link weight being defined as a measure of the volume of trade between two countries. In this paper we analyzed the international trade data for 53 years and studied in detail the variations of different ...

  12. AIR QUALITY CRITERIA FOR PARTICULATE MATTER, VOLUMES I-III, (EXTERNAL REVIEW DRAFT, 1995)

    Science.gov (United States)

    There is no abstract available for these documents. If further information is requested, please refer to the bibliographic citation and contact the Technical Information Staff at the number listed above.Air Quality Criteria for Particulate Matter, Volume I, Extern...

  13. Field Surveys, IOC Valleys. Volume III, Part I. Cultural Resources Survey, Dry Lake Valley, Nevada.

    Science.gov (United States)

    1981-08-01

    Artemisia nova) but also include cliffrose (Cowania mexicana ) and broom snakeweed (Gutierrezia sarothreae) as dominant species. Other species include... CULTURA Ale ~~REOUC SURVEYa AREASczCAvE L CU 11U CUUI 3-2 E-TR-48-III-I 69 was used because it is considered intensive by the Bureau of Land Management and

  14. ICPP calcined solids storage facility closure study. Volume III: Engineering design files

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-02-01

    The following information was calculated to support cost estimates and radiation exposure calculations for closure activities at the Calcined Solids Storage Facility (CSSF). Within the estimate, volumes were calculated to determine the required amount of grout to be used during closure activities. The remaining calcine on the bin walls, supports, piping, and floor was also calculated to approximate the remaining residual calcine volumes at different stages of the removal process. The estimates for remaining calcine and vault void volume are higher than what would actually be experienced in the field, but are necessary for bounding purposes. The residual calcine in the bins may be higher than was is experienced in the field as it was assumed that the entire bin volume is full of calcine before removal activities commence. The vault void volumes are higher as the vault roof beam volumes were neglected. The estimations that follow should be considered rough order of magnitude, due to the time constraints as dictated by the project`s scope of work. Should more accurate numbers be required, a new analysis would be necessary.

  15. Compact high order finite volume method on unstructured grids III: Variational reconstruction

    Science.gov (United States)

    Wang, Qian; Ren, Yu-Xin; Pan, Jianhua; Li, Wanai

    2017-05-01

    This paper presents a variational reconstruction for the high order finite volume method in solving the two-dimensional Navier-Stokes equations on arbitrary unstructured grids. In the variational reconstruction, an interfacial jump integration is defined to measure the jumps of the reconstruction polynomial and its spatial derivatives on each cell interface. The system of linear equations to determine the reconstruction polynomials is derived by minimizing the total interfacial jump integration in the computational domain using the variational method. On each control volume, the derived equations are implicit relations between the coefficients of the reconstruction polynomials defined on a compact stencil involving only the current cell and its direct face-neighbors. The reconstruction and time integration coupled iteration method proposed in our previous paper is used to achieve high computational efficiency. A problem-independent shock detector and the WBAP limiter are used to suppress non-physical oscillations in the simulation of flow with discontinuities. The advantages of the finite volume method using the variational reconstruction over the compact least-squares finite volume method proposed in our previous papers are higher accuracy, higher computational efficiency, more flexible boundary treatment and non-singularity of the reconstruction matrix. A number of numerical test cases are solved to verify the accuracy, efficiency and shock-capturing capability of the finite volume method using the variational reconstruction.

  16. Proceedings of the sixth international conference on fluidized bed combustion. Volume III. Technical sessions

    Energy Technology Data Exchange (ETDEWEB)

    None

    1980-08-01

    The Sixth International Conference on Fluidized Bed Combustion was held April 9-11, 1980, at the Atlanta Hilton, Atlanta, Georgia. It was sponsored by the US Department of Energy, the Electric Power Research Institute, the US Environmental Protection Agency, and the Tennessee Valley Authority. Forty-five papers from Vol. III of the proceedings have been entered individually into EDB and ERA. Two papers had been entered previously from other sources. (LTN)

  17. Recent regulatory experience of low-Btu coal gasification. Volume III. Supporting case studies

    Energy Technology Data Exchange (ETDEWEB)

    Ackerman, E.; Hart, D.; Lethi, M.; Park, W.; Rifkin, S.

    1980-02-01

    The MITRE Corporation conducted a five-month study for the Office of Resource Applications in the Department of Energy on the regulatory requirements of low-Btu coal gasification. During this study, MITRE interviewed representatives of five current low-Btu coal gasification projects and regulatory agencies in five states. From these interviews, MITRE has sought the experience of current low-Btu coal gasification users in order to recommend actions to improve the regulatory process. This report is the third of three volumes. It contains the results of interviews conducted for each of the case studies. Volume 1 of the report contains the analysis of the case studies and recommendations to potential industrial users of low-Btu coal gasification. Volume 2 contains recommendations to regulatory agencies.

  18. Alterations of thoraco-abdominal volumes and asynchronies in patients with spinal muscle atrophy type III.

    Science.gov (United States)

    LoMauro, Antonella; Romei, Marianna; Priori, Rita; Laviola, Marianna; D'Angelo, Maria Grazia; Aliverti, Andrea

    2014-06-15

    Spinal muscular atrophy (SMA) is characterized by degeneration of motor neurons resulting in muscle weakness. For the mild type III form, a sub-classification into type IIIA and IIIB, based on age of motor impairment, was recently proposed. To investigate if SMA IIIA (more severe) and IIIB differ also in terms of respiratory function, thoracoabdominal kinematics was measured during quiet breathing, inspiration preceding cough and inspiratory capacity on 5 type IIIA and 9 type IIIB patients. Four patients with SMA II (more severe than types III) and 19 healthy controls were also studied. Rib cage motion was similar in SMA IIIB and controls. Conversely, in SMA IIIA and SMA II it was significantly reduced and sometime paradoxical during quiet breathing in supine position. Our results suggest that in SMA IIIA intercostal muscles are weakened and the diaphragm is preserved similarly to SMA II, while in SMA IIIB the action of all inspiratory muscles is maintained. Sub-classification of type III seems feasible also for respiratory function.

  19. Recensione a "Collodi. Edizione Nazionale delle Opere di Carlo Lorenzini. Volume III"

    Directory of Open Access Journals (Sweden)

    Pina Paone

    2013-06-01

    Full Text Available Si presenta il terzo volume della collana Collodi, Edizione Nazionale delle Opere di Carlo Lorenzini, Giunti, Firenze, 2012, con Prefazione di Mario Vargas Llosa e Introduzione di Daniela Marcheschi. Il volume contiene il famosissimo Le Avventure di Pinocchio, sintesi del percorso artistico dello scrittore toscano ed espressione più compiuta della sua abilità e consapevolezza narrativa. La recensione ripercorrerà i tratti dell’opera, inserendola nel generale e più ampio contesto dell’attività letteraria di Collodi.

  20. An EGARCH-BPNN system for estimating and predicting stock market volatility in Morocco and Saudi Arabia: The effect of trading volume

    Directory of Open Access Journals (Sweden)

    Salim Lahmiri

    2012-08-01

    Full Text Available In this study, the backpropagation neural network (BPNN is tested for the ability to forecast the daily volatility of two stock market indices from the Middle East and North Africa (MENA region using volume; namely Morocco and Saudi Arabia. Volatility series were estimated using the Exponential Auto-Regressive Conditional Heteroskedasticity (EGARCH model. The simulation results show that trading volume helps improving the forecasting accuracy of BPNN in Morocco but not in Saudi Arabia. As a result, volume represents valuable information flow to be used in the modeling and prediction of volatility in Morocco. In addition, it is found that BPNN overpredicts volatility during high volatile periods. This finding is important in financial applications such as asset allocation and derivatives pricing.

  1. Secretarial Science. Curriculum Guides for Two-Year Postsecondary Programs. Volume III.

    Science.gov (United States)

    North Carolina State Dept. of Community Colleges, Raleigh.

    The third of three volumes in a postsecondary secretarial science curriculum, this manual contains course syllabi for thirteen secretarial science technical courses. Course titles include Shorthand 1-3; Shorthand Dictation and Transcription, 1-3; Terminology and Vocabulary: Business, Legal, Medical; Typewriting, 1-5; and Word Processing. Each…

  2. Analysis and forecast of electrical distribution system materials. Final report. Volume III. Appendix

    Energy Technology Data Exchange (ETDEWEB)

    Love, C G

    1976-08-23

    These appendixes are referenced in Volume II of this report. They contain the detailed electrical distribution equipment requirements and input material requirements forecasts. Forecasts are given for three electric energy usage scenarios. Also included are data on worldwide reserves and demand for 30 raw materials required for the manufacture of electrical distribution equipment.

  3. Does upper premolar extraction affect the changes of pharyngeal airway volume after bimaxillary surgery in skeletal class III patients?

    Science.gov (United States)

    Kim, Min-Ah; Park, Yang-Ho

    2014-01-01

    The purpose of this study was to assess the pharyngeal airway volume change after bimaxillary surgery in patients with skeletal Class III malocclusion and evaluate the difference in postoperative pharyngeal airway space between upper premolar extraction cases and nonextraction cases. Cone-beam computed tomographic scans were obtained for 23 patients (13 in extraction group and 10 in nonextraction group) who were diagnosed with mandibular prognathism before surgery (T0) and then 2 months (T2) and 6 months after surgery (T3). Using InVivoDental 3-dimensional imaging software, volumetric changes in the pharyngeal airway space were assessed at T0, T2, and T3. The Wilcoxon signed-rank test was used to determine whether there were significant changes in pharyngeal airway volume between time points. The Mann-Whitney U test was used to determine whether there were significant differences in volumetric changes between the extraction and nonextraction groups. Volumes in all subsections of the pharyngeal airway were decreased (P bimaxillary surgery. Copyright © 2014 American Association of Oral and Maxillofacial Surgeons. Published by Elsevier Inc. All rights reserved.

  4. Economic evaluation of the annual cycle energy system (ACES). Final report. Volume III, appendices

    Energy Technology Data Exchange (ETDEWEB)

    1980-06-01

    This volume consists of seven appendices related to ACES, the first three of which are concerned with computer programs. The appendices are entitled: (A) ACESIM: Residential Program Listing; (B) Typical Inputs and Outputs of ACESIM; (C) CACESS: Commercial Building Program Listing; (D) Typical Weather-Year Selection Requirements; (E) Building Characteristics; (F) List of Major Variables Used in the Computer Programs; and (G) Bibliography. 79 references.

  5. Freud on Holiday. Volume III. The Forgetting of a Foreign Name

    OpenAIRE

    Kivland, Sharon

    2011-01-01

    The third volume in the series Freud on Holiday describes a number of holiday possibilities, the problem of deciding where to go and when, the matters of cost and convenience, of appropriate companions and correct context. There are descriptions of train itineraries, of hotel rooms and restaurant menus, but the name of one restaurant resists recall for most of the book. There is a surprising connection with hysteria and another name is forgotten en route, accompanied by an embarrassing error ...

  6. Near Term Hybrid Passenger Vehicle Development Program. Phase I, Final report. Appendix B: trade-off studies. Volume I

    Energy Technology Data Exchange (ETDEWEB)

    Traversi, M.; Piccolo, R.

    1979-06-11

    Trade-off studies of Near Term Hybrid Vehicle (NTHV) design elements were performed to identify the most promising design concept in terms of achievable petroleum savings. The activities in these studies are described. The results are presented as preliminary NTHV body design, expected fuel consumption as a function of vehicle speed, engine requirements, battery requirements, and vehicle reliability and cost. (LCL)

  7. Solar Central Receiver Hybrid Power Systems sodium-cooled receiver concept. Final report. Volume III. Appendices

    Energy Technology Data Exchange (ETDEWEB)

    None

    1980-01-01

    The overall, long term objective of the Solar Central Receiver Hybrid Power System is to identify, characterize, and ultimately demonstrate the viability and cost effectiveness of solar/fossil, steam Rankine cycle, hybrid power systems that: (1) consist of a combined solar central receiver energy source and a nonsolar energy source at a single, common site, (2) may operate in the base, intermediate, and peaking capacity modes, (3) produce the rated output independent of variations in solar insolation, (4) provide a significant savings (50% or more) in fuel consumpton, and (5) produce power at the minimum possible cost in mills/kWh. It is essential that these hybrid concepts be technically feasible and economically competitive with other systems in the near to mid-term time period (1985-1990) on a commercial scale. The program objective for Phase I is to identify and conceptually characterize solar/fossil steam Rankine cycle, commercial-scale, power plant systems that are economically viable and technically feasible. This volume contains appendices to the conceptual design and systems analysis studies gien in Volume II, Books 1 and 2. (WHK)

  8. Southwest Project: resource/institutional requirements analysis. Volume III. Systems integration studies

    Energy Technology Data Exchange (ETDEWEB)

    Ormsby, L. S.; Sawyer, T. G.; Brown, Dr., M. L.; Daviet, II, L. L; Weber, E. R.; Brown, J. E.; Arlidge, J. W.; Novak, H. R.; Sanesi, Norman; Klaiman, H. C.; Spangenberg, Jr., D. T.; Groves, D. J.; Maddox, J. D.; Hayslip, R. M.; Ijams, G.; Lacy, R. G.; Montgomery, J.; Carito, J. A.; Ballance, J. W.; Bluemle, C. F.; Smith, D. N.; Wehrey, M. C.; Ladd, K. L.; Evans, Dr., S. K.; Guild, D. H.; Brodfeld, B.; Cleveland, J. A.; Hicks, K. L.; Noga, M. W.; Ross, A. M.

    1979-12-01

    The purpose of this project is to provide information to DOE which can be used to establish its plans for accelerated commercialization and market penetration of solar electric generating plants in the southwestern region of the United States. The area of interest includes Arizona, California, Colorado, Nevada, New Mexico, Utah, and sections of Oklahoma and Texas. The system integration study establishes the investment that utilities could afford to make in solar thermal, photovoltaic, and wind energy systems, and to assess the sensitivity of the break-even cost to critical variables including fuel escalation rates, fixed charge rates, load growth rates, cloud cover, number of sites, load shape, and energy storage. This information will be used as input to Volume IV, Institutional Studies, one objective of which will be to determine the incentives required to close the gap between the break-even investment for the utilities of the Southwest and the estimated cost of solar generation.

  9. Solar Pilot Plant, Phase I. Preliminary design report. Volume III. Collector subsystem. CDRL item 2

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-05-01

    The Honeywell collector subsystem features a low-profile, multifaceted heliostat designed to provide high reflectivity and accurate angular and spatial positioning of the redirected solar energy under all conditions of wind load and mirror attitude within the design operational envelope. The heliostats are arranged in a circular field around a cavity receiver on a tower halfway south of the field center. A calibration array mounted on the receiver tower provides capability to measure individual heliostat beam location and energy periodically. This information and weather data from the collector field are transmitted to a computerized control subsystem that addresses the individual heliostat to correct pointing errors and determine when the mirrors need cleaning. This volume contains a detailed subsystem design description, a presentation of the design process, and the results of the SRE heliostat test program.

  10. Energy use in the marine transportation industry: Task II. Regulations and Tariffs. Final report, Volume III

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-12-01

    The evaluation of the energy impacts of regulations and tariffs is structured around three sequential steps: identification of agencies and organizations that impact the commercial marine transportation industry; identification of existing or proposed regulations that were perceived to have a significant energy impact; and quantification of the energy impacts. Following the introductory chapter, Chapter II describes the regulatory structure of the commercial marine transportation industry and includes a description of the role of each organization and the legislative basis for their jurisdiction and an identification of major areas of regulation and those areas that have an energy impact. Chapters III through IX each address one of the 7 existing or proposed regulatory or legislative actions that have an energy impact. Energy impacts of the state of Washington's tanker regulations, of tanker segregated ballast requirements, of inland waterway user charges, of cargo pooling and service rationalization, of the availability of intermodal container transportation services, of capacity limitations at lock and dam 26 on the Mississippi River and the energy implications of the transportation alternatives available for the West Coast crude oil supplies are discussed. (MCW)

  11. 引力模型下人民币汇率对贸易量的影响--基于欧盟28国贸易的实证分析%The Effects of RMB Exchange Rate Volatility on Trade Volume under the Trade Gravity Model:Based on An Empirical Study of the Trade among China and 28 Countries of EU

    Institute of Scientific and Technical Information of China (English)

    朱恩东

    2016-01-01

    As China’s largest trading partner and the largest source of imports, the EU has become more and more important in China’s foreign trade. Therefore, the study of China-EU trade has become one of the focus of academic attention in recent years. In this paper, we use the panel data of 2005-2014 to establish the trade gravity model, which includes the basic variables such as per capita GDP, trade distance and so on. Then we use the model to evaluate the impact of RMB exchange rate volatility on EU trade volume under the background of RMB globalization.%欧盟作为当前中国最大的贸易伙伴和中国最大的进口技术来源地,在中国对外贸易中所处的地位越来越重要。因此中欧贸易的研究也在近些年来成为学术界关注的重点之一。文章利用2005-2014年的面板数据建立了包括人均GDP、贸易距离等基本变量的贸易引力模型。然后运用得到的模型来评价在人民币全球化背景下人民币汇率波动对欧盟各国贸易量的影响情况。

  12. OTEC modular experiment cold water pipe concept evaluation. Volume III. Appendices

    Energy Technology Data Exchange (ETDEWEB)

    1979-04-01

    The Cold Water Pipe System Design Study was undertaken to evaluate the diverse CWP concepts, recommend the most viable alternatives for a 1984 deployment of the 10 to 40 MWe MEP, and carry out preliminary designs of three concepts. The concept evaluation phase reported involved a systems analysis of design alternatives in the broad categories of rigid walled (with hinges), compliant walled, stockade and bottom mounted buoyant. Quantitative evaluations were made of concept performance, availability, deployment schedule, technical feasibility and cost. CWP concepts were analyzed to determine if they met or could be made to meet established system requirements and could be deployed by 1984. Fabrication, construction and installation plans were developed for successful concepts, and costs were determined in a WBS format. Evaluations were performed on the basis of technical and cost risk. This volume includes the following appendices: (A) materials and associated design criteria; (B) summary of results of dynamic flow and transportation analysis; (C) CWP sizing analysis; (D) CWP thermal performance; and (E) investigation of the APL/ABAM CWP design. (WHK)

  13. Insider trading

    OpenAIRE

    Šatanová, Martina

    2013-01-01

    The thesis is dealing with trading based on nonpublic information (insider trading). It contains development of insider trading regulation and describes specifics of american, czech, japanese and chinese market consodering insider trading. It is focused on regulation, investigation and evidence.

  14. NOVEL CONCEPTS FOR THE COMPRESSION OF LARGE VOLUMES OF CARBON DIOXIDE-PHASE III

    Energy Technology Data Exchange (ETDEWEB)

    Moore, J. Jeffrey; Allison, Timothy; Evans, Neal; Moreland, Brian; Hernandez, Augusto; Day, Meera; Ridens, Brandon

    2014-06-30

    successfully demonstrated good performance and mechanical behavior. In Phase III, a pilot compression plant consisting of a multi-stage centrifugal compressor with cooled diaphragm technology has been designed, constructed, and tested. Comparative testing of adiabatic and cooled tests at equivalent inlet conditions shows that the cooled diaphragms reduce power consumption by 3-8% when the compressor is operated as a back-to-back unit and by up to 9% when operated as a straight-though compressor with no intercooler. The power savings, heat exchanger effectiveness, and temperature drops for the cooled diaphragm were all slightly higher than predicted values but showed the same trends.

  15. Genetic correlations between brain volumes and the WAIS-III dimensions of verbal comprehension, working memory, perceptual organization, and processing speed

    DEFF Research Database (Denmark)

    Posthuma, Daniëlle; Baare, Wim F.C.; Hulshoff Pol, Hilleke E.;

    2003-01-01

    to cerebellar volume. Verbal Comprehension was not related to any of the three brain volumes. It is concluded that brain volumes are genetically related to intelligence which suggests that genes that influence brain volume may also be important for intelligence. It is also noted however, that the direction......We recently showed that the correlation of gray and white matter volume with full scale IQ and the Working Memory dimension are completely mediated by common genetic factors (Posthuma et al., 2002). Here we examine whether the other WAIS III dimensions (Verbal Comprehension, Perceptual Organization...... to Working Memory capacity (r = 0.27). This phenotypic correlation is completely due to a common underlying genetic factor. Processing Speed was genetically related to white matter volume (r(g) = 0.39). Perceptual Organization was both genetically (r(g) = 0.39) and environmentally (r(e) = -0.71) related...

  16. Novel concepts for the compression of large volumes of carbon dioxide-phase III

    Energy Technology Data Exchange (ETDEWEB)

    Moore, J. Jeffrey [Southwest Research Inst., San Antonio, TX (United States); Allison, Timothy C. [Southwest Research Inst., San Antonio, TX (United States); Evans, Neal D. [Southwest Research Inst., San Antonio, TX (United States); Moreland, Brian [Southwest Research Inst., San Antonio, TX (United States); Hernandez, Augusto J. [Southwest Research Inst., San Antonio, TX (United States); Day, Meera [Southwest Research Inst., San Antonio, TX (United States); Ridens, Brandon L. [Southwest Research Inst., San Antonio, TX (United States)

    2014-06-30

    and tested in a closed loop compressor facility using CO2 . Both test programs successfully demonstrated good performance and mechanical behavior. In Phase III, a pilot compression plant consisting of a multi-stage centrifugal compressor with cooled diaphragm technology has been designed, constructed, and tested. Comparative testing of adiabatic and cooled tests at equivalent inlet conditions shows that the cooled diaphragms reduce power consumption by 3-8% when the compressor is operated as a back-to-back unit and by up to 9% when operated as a straight-though compressor with no intercooler. The power savings, heat exchanger effectiveness, and temperature drops for the cooled diaphragm were all slightly higher than predicted values but showed the same trends.

  17. Shareholder Lock-In Contracts : Share Price and Trading Volume Effects at the Lock-In Expiry

    NARCIS (Netherlands)

    Angenandt, P.P.; Goergen, M.; Renneboog, L.D.R.

    2005-01-01

    This paper unveils the diversity in lock-in agreements of firms listed on the Nouveau Marche stock exchange in France.We give the main economic reasons why shareholders adopt lock-in agreements that are more stringent than legally required.We relate the abnormal returns and the abnormal volume at th

  18. Germany Enjoys Splendid Trade Partnership with China

    Institute of Scientific and Technical Information of China (English)

    Sun; Yongjian

    2005-01-01

      "China and Germany are longterm trade partners, The volume of our bilateral trade has reached more than $54 Million in 2004, Chinese Prime Minister Wen Jiabao and German Chancellor Gerhard Schroder have agreed to double our bilateral trade volume by the year 2010." Dr. Volker Stanzel,German Ambassador gave an active appraise on the bilateral trade relations when interviewed by China's Foreign Trade.……

  19. Do Insider Trading Laws Work?

    OpenAIRE

    2000-01-01

    By calculating an estimated measure of undetected insider trading, this paper shows that profits made by informed corporate insiders prior to tender offer announcements increase after the first enforcement of insider trading laws. I analyze the effects of Insider Trading regulation on a sample of 5,099 acquisitions in 56 different countries, and estimate the profits due to insider trading from the abnormal volume in the weeks prior to the announcement, under the assumption that insiders purch...

  20. Emission Trading

    OpenAIRE

    2009-01-01

    The work concerns Emission Trading Scheme from perspektive of taxes and accounting. I should show problems with emission trading. The work concerns practical example of trading with emission allowance.

  1. The history of NATO TNF policy: The role of studies, analysis and exercises conference proceedings. Volume 3: Papers by Gen. Robert C. Richardson III (Ret.)

    Energy Technology Data Exchange (ETDEWEB)

    Rinne, R.L. [ed.

    1994-02-01

    This conference was organized to study and analyze the role of simulation, analysis, modeling, and exercises in the history of NATO policy. The premise was not that the results of past studies will apply to future policy, but rather that understanding what influenced the decision process-and how-would be of value. The structure of the conference was built around discussion panels. The panels were augmented by a series of papers and presentations focusing on particular TNF events, issues, studies, or exercises. The conference proceedings consist of three volumes. Volume 1 contains the conference introduction, agenda, biographical sketches of principal participants, and analytical summary of the presentations and discussion panels. Volume 2 contains a short introduction and the papers and presentations from the conference. This volume contains selected papers by Brig. Gen. Robert C. Richardson III (Ret.).

  2. Current and future industrial energy service characterizations. Volume III. Energy data on 15 selected states' manufacturing subsector

    Energy Technology Data Exchange (ETDEWEB)

    Krawiec, F.; Thomas, T.; Jackson, F.; Limaye, D.R.; Isser, S.; Karnofsky, K.; Davis, T.D.

    1980-11-01

    An examination is made of the current and future energy demands, and uses, and cost to characterize typical applications and resulting services in the US and industrial sectors of 15 selected states. Volume III presents tables containing data on selected states' manufacturing subsector energy consumption, functional uses, and cost in 1974 and 1976. Alabama, California, Illinois, Indiana, Louisiana, Michigan, Missouri, New Jersey, New York, Ohio, Oregon, Pennsylvania, Texas, West Virginia, and Wisconsin were chosen as having the greatest potential for replacing conventional fuel with solar energy. Basic data on the quantities, cost, and types of fuel and electric energy purchased by industr for heat and power were obtained from the 1974 and 1976 Annual Survey of Manufacturers. The specific indutrial energy servic cracteristics developed for each selected state include. 1974 and 1976 manufacturing subsector fuels and electricity consumption by 2-, 3-, and 4-digit SIC and primary fuel (quantity and relative share); 1974 and 1976 manufacturing subsector fuel consumption by 2-, 3-, and 4-digit SIC and primary fuel (quantity and relative share); 1974 and 1976 manufacturing subsector average cost of purchsed fuels and electricity per million Btu by 2-, 3-, and 4-digit SIC and primary fuel (in 1976 dollars); 1974 and 1976 manufacturing subsector fuels and electric energy intensity by 2-, 3-, and 4-digit SIC and primary fuel (in 1976 dollars); manufacturing subsector average annual growth rates of (1) fuels and electricity consumption, (2) fuels and electric energy intensity, and (3) average cost of purchased fuels and electricity (1974 to 1976). Data are compiled on purchased fuels, distillate fuel oil, residual ful oil, coal, coal, and breeze, and natural gas. (MCW)

  3. Genetic correlations between brain volumes and the WAIS-III dimensions of verbal comprehension, working memory, perceptual organization, and processing speed

    DEFF Research Database (Denmark)

    Posthuma, Daniëlle; Baare, Wim F.C.; Hulshoff Pol, Hilleke E.

    2003-01-01

    We recently showed that the correlation of gray and white matter volume with full scale IQ and the Working Memory dimension are completely mediated by common genetic factors (Posthuma et al., 2002). Here we examine whether the other WAIS III dimensions (Verbal Comprehension, Perceptual Organization...... to Working Memory capacity (r = 0.27). This phenotypic correlation is completely due to a common underlying genetic factor. Processing Speed was genetically related to white matter volume (r(g) = 0.39). Perceptual Organization was both genetically (r(g) = 0.39) and environmentally (r(e) = -0.71) related...

  4. Permit trading and credit trading

    DEFF Research Database (Denmark)

    Boom, Jan-Tjeerd; R. Dijstra, Bouwe

    This paper compares emissions trading based on a cap on total emissions (permit trading) and on relative standards per unit of output (credit trading). Two types of market structure are considered: perfect competition and Cournot oligopoly. We find that output, abatement costs and the number...... of firms are higher under credit trading. Allowing trade between permit-trading and credit-trading sectors may increase in welfare. With perfect competition, permit trading always leads to higher welfare than credit trading. With imperfect competition, credit trading may outperform permit trading....... Environmental policy can lead to exit, but also to entry of firms. Entry and exit have a profound impact on the performance of the schemes, especially under imperfect competition. We find that it may be impossible to implement certain levels of total industry emissions. Under credit trading several levels...

  5. 我国期货市场期货价格收益、交易量、波动性关系的动态分析%The dynamic relation between returns, trading volume and volatility in futures Markets in China

    Institute of Scientific and Technical Information of China (English)

    华仁海; 仲伟俊

    2003-01-01

    We examine the dynamic relation between returns, volume, and volatility of our futures markets. The results show that there exists a positive correlation between absolute returns and volume, but no correlation between returns and volume; Granger causality demonstrate that no causality relation exists between returns (or absolute returns) and volume, except copper's absolute returns causes volume; the conditional volatility of returns has no direct impact to futures returns; copper' and soybean' trading volume contributes strong explanatory power to volatility, but aluminous' trading volume has no direct impact to volatility.

  6. Nuclear proliferation and civilian nuclear power: report of the Nonproliferation Alternative Systems Assessment Program. Volume III. Resources and fuel cycle facilities

    Energy Technology Data Exchange (ETDEWEB)

    1979-12-01

    Volume III explores resources and fuel cycle facilities. Chapters are devoted to: estimates of US uranium resources and supply; comparison of US uranium demands with US production capability forecasts; estimates of foreign uranium resources and supply; comparison of foreign uranium demands with foreign production capability forecasts; and world supply and demand for other resources and fuel cycle services. An appendix gives uranium, fissile material, and separative work requirements for selected reactors and fuel cycles.

  7. 基于VAR-Copula模型的股价、交易量的相依结构%Dependence structure between the stock price and the trading volume based on the VAR-Copula model

    Institute of Scientific and Technical Information of China (English)

    易文德

    2011-01-01

    基于向量自回归(vector autoregression,VAR)误差修正模型,结合Copula理论建立VAR-Copula模型研究股市指数与交易量之间的Granger因果关系和相依结构.通过对三个股票市场的实证分析,发现各市场的指数与交易量之间存在长期的协整关系和由指数到交易量的单向因果关系;指数对数收益率与交易量对数差分的相依关系复杂,既有正的相依成分也包含负的相依结构,且都表现为上尾高的非对称的相依特征.%It is an important subject to study the dependence relationship between the stock price and the trading volume in financial field. It not only need to investigate Granger's causality relation and relational measure but also to study the dependence structure between them. Based on the VAR error correction model and associated with copula technique, a VAR-Copula model is structured to research the Granger's causality relation and the dependence structure between the stock price and the trading volume. The empirical study to three stock markets finds that there is a long-rang co-integration between stock price index and the trading volume and a unilateral Granger causality relationship from stock price to the trading volume, and also finds that the complex dependence relationship between the stock price index logarithmic returns and the trading volume logarithmic difference is positive dependence as well as negative dependence and the asymmetrical dependence structure with higher upper tail to all stock markets.

  8. Industrial Fuel Gas Demonstration Plant Program. Conceptual design and evaluation of commercial plant. Volume III. Economic analyses (Deliverable Nos. 15 and 16)

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-01-01

    This report presents the results of Task I of Phase I in the form of a Conceptual Design and Evaluation of Commercial Plant report. The report is presented in four volumes as follows: I - Executive Summary, II - Commercial Plant Design, III - Economic Analyses, IV - Demonstration Plant Recommendations. Volume III presents the economic analyses for the commercial plant and the supporting data. General cost and financing factors used in the analyses are tabulated. Three financing modes are considered. The product gas cost calculation procedure is identified and appendices present computer inputs and sample computer outputs for the MLGW, Utility, and Industry Base Cases. The results of the base case cost analyses for plant fenceline gas costs are as follows: Municipal Utility, (e.g. MLGW), $3.76/MM Btu; Investor Owned Utility, (25% equity), $4.48/MM Btu; and Investor Case, (100% equity), $5.21/MM Btu. The results of 47 IFG product cost sensitivity cases involving a dozen sensitivity variables are presented. Plant half size, coal cost, plant investment, and return on equity (industrial) are the most important sensitivity variables. Volume III also presents a summary discussion of the socioeconomic impact of the plant and a discussion of possible commercial incentives for development of IFG plants.

  9. 77 FR 28853 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-05-16

    ... International Trade Administration Export Trade Certificate of Review ACTION: Notice of issuance of an Export....S. Department of Commerce issued an amended Export Trade Certificate of Review Alaska Longline Cod... number) or email at etca@trade.gov . SUPPLEMENTARY INFORMATION: Title III of the Export Trading Company...

  10. Fair Trade

    OpenAIRE

    2007-01-01

    This paper deals with the behavior of fair trade organizations in an oligopolistic setting in which the vertically integrated fair trade firm produces a commodity which is a weak substitute for another commodity. Profit-maximizing oligopolists are vertically disintegrated and produce for both markets and the fair trade firm can charge a premium to consumers due to a "warm glow effect" that depends on the wage paid to fair trade producers. We show that trade integration will unambiguously incr...

  11. A Review of the Definition and Measurement of Poverty: Volume I, Summary Review Paper; Volume II, Annotated Bibliography. The Measure of Poverty, Technical Paper III.

    Science.gov (United States)

    Oster, Sharon; And Others

    This study reviews the existing literature on a series of issues associated with the defintion and measurement of poverty, and it consists of a summary report covering this research (Volume I), and an annotated bibliography (Volume II). Eleven specific issues were identified and reviewed in this study: (1) the historical definitions of poverty,…

  12. Orbital change following Le Fort III advancement in syndromic craniosynostosis: quantitative evaluation of orbital volume, infra-orbital rim and globe position.

    Science.gov (United States)

    Nout, Erik; van Bezooijen, Jine S; Koudstaal, Maarten J; Veenland, Jifke F; Hop, Wim C J; Wolvius, Eppo B; van der Wal, Karel G H

    2012-04-01

    Patients with syndromic craniosynostosis suffering from shallow orbits due to midface hypoplasia can be treated with a Le Fort III advancement osteotomy. This study evaluates the influence of Le Fort III advancement on orbital volume, position of the infra-orbital rim and globe. In pre- and post-operative CT-scans of 18 syndromic craniosynostosis patients, segmentation of the left and right orbit was performed and the infra-orbital rim and globe were marked. By superimposing the pre- and post-operative scans and by creating a reference coordinate system, movements of the infra-orbital rim and globe were assessed. Orbital volume increased significantly, by 27.2% for the left and 28.4% for the right orbit. Significant anterior movements of the left infra-orbital rim of 12.0mm (SD 4.2) and right infra-orbital rim of 12.8mm (SD 4.9) were demonstrated. Significant medial movements of 1.7mm (SD 2.2) of the left globe and 1.5mm (SD 1.9) of the right globe were demonstrated. There was a significant correlation between anterior infra-orbital rim movement and the increase in orbital volume. Significant orbital volume increase has been demonstrated following Le Fort III advancement. The position of the infra-orbital rim was moved forward significantly, whereas the globe position remained relatively unaffected. Copyright © 2011 European Association for Cranio-Maxillo-Facial Surgery. Published by Elsevier Ltd. All rights reserved.

  13. Power-law correlations in finance-related Google searches, and their cross-correlations with volatility and traded volume: Evidence from the Dow Jones Industrial components

    Science.gov (United States)

    Kristoufek, Ladislav

    2015-06-01

    We study power-law correlations properties of the Google search queries for Dow Jones Industrial Average (DJIA) component stocks. Examining the daily data of the searched terms with a combination of the rescaled range and rescaled variance tests together with the detrended fluctuation analysis, we show that the searches are in fact power-law correlated with Hurst exponents between 0.8 and 1.1. The general interest in the DJIA stocks is thus strongly persistent. We further reinvestigate the cross-correlation structure between the searches, traded volume and volatility of the component stocks using the detrended cross-correlation and detrending moving-average cross-correlation coefficients. Contrary to the universal power-law correlations structure of the related Google searches, the results suggest that there is no universal relationship between the online search queries and the analyzed financial measures. Even though we confirm positive correlation for a majority of pairs, there are several pairs with insignificant or even negative correlations. In addition, the correlations vary quite strongly across scales.

  14. Contemporary American Success Stories. Famous People of Asian Ancestry. Volume III. A Mitchell Lane Multicultural Biography Series.

    Science.gov (United States)

    Marvis, Barbara J.

    As part of a five-volume series written at a reading level for grades five to six and as a tribute to the contributions Asian Americans have made to the United States, this volume presents biographical sketches of Asian Americans who can serve as role models for today's youth. The profiles in the series show the triumph of the human spirit. Volume…

  15. Theoretical and Practical Aspects of Algorithmic Trading

    OpenAIRE

    2010-01-01

    At today's stock markets, most of the trading volume is traded electronically. Thus, also many market participants execute their order flow automatically with the help of trading algorithms. Hence, several important aspects concerning algorithmic trading are discussed. One of the main topics of the current work is the measurement and the analysis of the market impact of transactions performed by a trading algorithm. Another main topic is a model to predict the intr...

  16. Investor Sentiment and Trading Volume:An Analysis based on Network Forum%投资者情绪与成交量:基于网络论坛证据的分析

    Institute of Scientific and Technical Information of China (English)

    易洪波; 李梦璐; 董大勇

    2016-01-01

    By conducting a word frequency statistics in posing on Eastmoney forum bar about SSE Composite Index , this paper establishes a set of keyword dictionary measuring investor′s sentiment effectively to study the influence of abnormal investor sentiment on the forum has on the abnormal trading volume .The empirical results show that the abnormal investor sentiment on the forum has a significant impact on the abnormal trading volume:the abnormal sentiment of long investor has a positive impact on the abnormal trading volume in the same period;the abnormal sentiment of short investor in the current period has a negative impact on the abnormal trading volume in the next period .%通过对东方财富网上证指数吧主题发帖的内容进行词频统计,本文建立了一组有效衡量投资者投资情绪的关键词词典,并据此考察网络论坛异常投资者情绪对交易市场异常成交量的影响。实证研究结果表明:网络论坛异常投资者情绪对交易市场异常成交量存在显著的影响,同期网络论坛异常投资者多方情绪对同期交易市场异常成交量产生正向影响,同期网络论坛异常投资者空方情绪对下一期的异常成交量产生负向影响。

  17. SOLVENT-BASED TO WATERBASED ADHESIVE-COATED SUBSTRATE RETROFIT - VOLUME III: LABEL MANUFACTURING CASE STUDY: NASHUA CORPORATION

    Science.gov (United States)

    This volume discusses Nashua Corporation's Omaha facility, a label and label stock manufacturing facility that no longer uses solvent-based adhesives. Information obtained includes issues related to the technical, economic, and environmental barriers and opportunities associated ...

  18. Soil Properties Database of Spanish Soils Volume III.- Extremadura; Base de Datos de Propiedades Edafologicas de los Suelos Espanoles Volumen III.- Extremadura

    Energy Technology Data Exchange (ETDEWEB)

    Trueba, C.; Millam, R.; Schmid, T.; Roquero, C.; Magister, M.

    1998-12-01

    The soil vulnerability determines the sensitivity of the soil after an accidental radioactive contamination due to Cs-137 and Sr-90. The Departamento de Impacto Ambiental de la Energia of CIEMAT is carrying out an assessment of the radiological vulnerability of the different Spanish soils found on the Iberian Peninsula. This requires the knowledge of the soil properties for the various types of existing soils. In order to achieve this aim, a bibliographical compilation of soil profiles has been made to characterize the different soil types and create a database of their properties. Depending on the year of publication and the type of documentary source, the information compiled from the available bibliography is very heterogeneous. Therefore, an important effort has been made to normalize and process the information prior to its incorporation to the database. This volume presents the criteria applied to normalize and process the data as well as the soil properties of the various soil types belonging to the Comunidad Autonoma de Extremadura. (Author) 50 refs.

  19. Alaska Regional Energy Resources Planning Project, Phase 2: coal, hydroelectric, and energy alternatives. Volume III. Alaska's alternative energies and regional assessment inventory update

    Energy Technology Data Exchange (ETDEWEB)

    1979-01-01

    The Alaska Regional Energy Resources Planning Project is presented in three volumes. This volume, Vol. III, considers alternative energies and the regional assessment inventory update. The introductory chapter, Chapter 12, examines the historical background, current technological status, environmental impact, applicability to Alaska, and siting considerations for a number of alternative systems. All of the systems considered use or could use renewable energy resources. The chapters that follow are entitled: Very Small Hydropower (about 12 kW or less for rural and remote villages); Low-Temperature Geothermal Space Heating; Wind; Fuel Cells; Siting Criteria and Preliminary Screening of Communities for Alternate Energy Use; Wood Residues; Waste Heat; and Regional Assessment Invntory Update. (MCW)

  20. Trade and Portuguese Immigration

    Directory of Open Access Journals (Sweden)

    NUNO CARLOS LEITÃO

    2010-12-01

    Full Text Available This manuscript examines the link between trade and migration flows using a gravity model for the period 1995-2007 between Portugal and European Union countries. We also include in our sample the Portuguese speaking countries (PALOPS, i.e., ex-colonies. Globalization drives people to migrate, in some countries, immigration being more pronounced las in Portugal, in last decade, this country receiving foreign residents. This is a new reality to Portuguese economy. For many years, the Portuguese have emigrated to European countries, the United States of America and other countries. Currently, Portugal is witnessing a reverse trend, Brazilian, Cape Verde, Ukrainian and Romanian communities choose Portugal as a destination country. We find evidence that immigration has a positive influence in bilateral trade. We also introduce economic size and regional trade agreements (RTA; these proxies confirming a positive impact of bilateral trade. These results show that the gravity model can explain the pattern of bloc’s trade. Our results also confirm the hypothesis that trade increases if the transport decreases. Classification-JEL:F14,F22Keywords:Trade, Immigration, Gravity model; PortugalJournal:Romanian Journal of EconomicsPages:38-48Volume:31Issue:2(40Year:2010(XXMonth: DecemberFile-URL: http://www.revecon.ro/articles/2010-2/2010-2-2.pdf

  1. Empirical Analysis of Kyrgyz Trade Patterns

    Directory of Open Access Journals (Sweden)

    Elvira KURMANALIEVA

    2008-05-01

    Full Text Available Being naturally located between two big markets in Europe and Asia, Kyrgyzstan together with other Central Asian countries does not have a direct access to sea ports. Landlockedness limits volumes of international trade and creates obstacles for economic growth. Results of statistical analysis show that Kyrgyz trade neither follows Heckscher-Ohlin model nor intra-industry trade model. Another finding is that open and liberal trade policy of Kyrgyzstan has a large positive effect on trade volumes, suggesting that bilateral trade will expand markedly if country continues liberalization of its trade policy with other countries. Quality of infrastructure and transportation costs play a crucial role for landlocked countries and a free trade agreement with other countries looks like a good opportunity to overcome natural barriers and diversify their trade.

  2. WORLD MERCHANDISE TRADE

    Directory of Open Access Journals (Sweden)

    Serghei MĂRGULESCU

    2017-05-01

    Full Text Available This article is mainly based on the most recent statistical data of the World Trade Organization and some aspects related to the evolution of world merchandise trade, in terms of volume and value, in 2015. The volume of world merchandise trade continued to grow slowly in 2015 while the dollar value of it declined sharply as exports fell 14 per cent to US$ 16 trillion, down from US$ 19 trillion in the previous year. It presents also the contribution of the volume change and of the change in unit values (which account for fluctuations in prices and exchange rates to the value trade growth (in current dollar terms. The discrepancy between trade growth in 2015 in terms of volume and value was mostly attributable to swings in commodity prices and exchange rates The course of economic globalization is also shortly looked on based on some data and considerations of Credit Suisse analysts. Three different scenarios were taken into account in this respect. First one in which globalization continues in the form we know it over the past thirty years, second one in which a multipolar world is a better representation of the state of affairs and third, a scenario in which globalization ends due to the rise of anti-globalization political movements. The second scenario seems to provide a better reflection of reality today, despite the fact that a certain slowdown is observable when taking into account the diminishing growth rate of physical trade, the slower penetration of foreign assets of the developed market companies and signs of reshoring of some business back home. Globalization remains intact in terms of consumption and marketing patterns, while companies seem more reluctant to invest abroad.

  3. Field Surveys, IOC Valleys. Volume III, Part II. Cultural Resources Survey, Pine and Wah Wah Valleys, Utah.

    Science.gov (United States)

    1981-08-01

    including horse, camel, mammoth, Ertm E-TR-48-III-II 20 musk ox, and certain species of bison, goat, and bear, which had previously inhabited the marsh and...34 - - -9,$.. 𔄃 Im I I I Si to * Location lype/Contents Affiliation 42B@644 rid e over cr ek - P/J depression, cleared areas, Fr elon (f4-5-18-92) ground

  4. Survey of fish impingement at power plants in the United States. Volume III. Estuaries and coastal waters

    Energy Technology Data Exchange (ETDEWEB)

    Stupka, Richard C.; Sharma, Rajendra K.

    1977-03-01

    Impingement of fish at cooling-water intakes of 32 power plants, located on estuaries and coastal waters has been surveyed and data are presented. Descriptions of site, plant, and intake design and operation are provided. Reports in this volume summarize impingement data for individual plants in tabular and histogram formats. Information was available from differing sources such as the utilities themselves, public documents, regulatory agencies, and others. Thus, the extent of detail in the reports varies greatly from plant to plant. Histogram preparation involved an extrapolation procedure that has inadequacies. The reader is cautioned in the use of information presented in this volume to determine intake-design acceptability or intensity of impacts on ecosystems. No conclusions are presented herein; data comparisons are made in Volume IV.

  5. Analysis of concentrating PV-T systems for the commercial/industrial sector. Volume III. Technical issues and design guidance

    Energy Technology Data Exchange (ETDEWEB)

    Schwinkendorf, W.E.

    1984-09-01

    This report provide appropriate guidance for addressing the major technical issues associated with the design and installation of a photovoltaic-thermal (PV-T) system. Nomographs are presented for developing preliminary sizing and costing, and issues associated with specific components and the overall design of the electrical and mechanical system are discussed. SAND82-7157/2 presents a review of current PV-T technology and operating systems and a study of potential PV-T applications. Detailed PV-T system designs for three selected applications and the results of a trade-off study for these applications are presented in SAND82-7157/4. A summary of the major results of this entire study and conclusions concerning PV-T systems and applications is presented in SAND82-7157/1.

  6. An Evaluation of the Mulligan Stew 4-H Television Series for Extension Service, USDA. Volume III: Case Studies.

    Science.gov (United States)

    Abt Associates, Inc., Cambridge, MA.

    Conducted on over 3,000 fourth, fifth, and sixth grade children in six states, this study documents changes in nutrition-related knowledge and behaviors which can be related to participating in the Mulligan Stew television series. The case studies which comprise this volume function as a brief organizational analysis of the Mulligan Stew effort at…

  7. International conference on high-energy physics. Volume 1. Sessions I to III. [Geneva, June 27-July 4, 1979

    Energy Technology Data Exchange (ETDEWEB)

    1980-02-01

    Volume 1 of the conference proceedings contains sessions on neutrino physics and weak interactions, e/sup +/e/sup -/ physics, and theory. Five of the papers have already been cited in ERA, and can be found by reference to the entry CONF-790642-- in the Report Number Index. The remaining 30 will be processed as they are received on the Atomindex tape. (RWR)

  8. Failure mode analysis for lime/limestone FGD system. Volume III. Plant profiles. Part 1 of 3

    Energy Technology Data Exchange (ETDEWEB)

    Kenney, S.M.; Rosenberg, H.S.; Nilsson, L.I.O.; Oxley, J.H.

    1984-08-01

    This volume contains plant profiles for: Petersburg 3; Hawthorn 3, 4; La Cygne 1; Jeffry 1, 2; Lawrence 4, 5; Green River 1-3; Cane Run 4, 5; Mill Creek 1, 3; Paddy's Run 6; Clay Boswell 4; Milton R. Young 2; Pleasants 1, 2; and Colstrip 1, 2. (DLC)

  9. Contemporary American Success Stories: Famous People of Hispanic Heritage. Volume III. A Mitchell Lane Multicultural Biography Series.

    Science.gov (United States)

    Marvis, Barbara J.

    The biographies in this projected eight volume series for elementary school children represent the diversity of Hispanic heritage in the United States. Those featured are contemporary figures with national origins in the United States or Latin America, with careers that cover many aspects of contemporary life. Every person profiled in the series…

  10. Inventory of Federal energy-related environment and safety research for FY 1977. Volume III. Interactive terminal users guide

    Energy Technology Data Exchange (ETDEWEB)

    Shriner, C.R.; Peck, L.J.; Miller, C.E.

    1978-07-01

    This users guide was prepared to provide interested persons access to, via computer terminals, federally funded energy-related environment and safety research projects for FY 1977. Although this information is also available in hardbound volumes, this on-line searching capability is expected to reduce the time required to answer ad hoc questions and, at the same time, produce meaningful reports.

  11. 77 FR 61744 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-10-11

    ... International Trade Administration Export Trade Certificate of Review ACTION: Notice of Issuance of an Export... September 27, 2012, the U.S. Department of Commerce issued an amended Export Trade Certificate of Review to... INFORMATION: Title III of the Export Trading Company Act of 1982 (15 U.S.C. 4001-21) authorizes the Secretary...

  12. Trade Tokens

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    In the pursuit of balanced trade with the U.S., China pours it on where it counts A week ahead of Chinese President Hu Jintao's first state visit to the United States, Beijing and Washington reached a series of agreements intended to ease the bilateral trade imbalance, including resuming trade in U.S. beef, increasing Chinese market access to U.S. medical devices, telecom services and express delivery, and cracking down on intellectual property rights infringements.

  13. Trade Advantages

    Institute of Scientific and Technical Information of China (English)

    Mei Xinyu

    2012-01-01

    As the world's largest trading nation,its largest exporter and second largest importer,China wields extensive influence on global trade and the world economy,China's advantages of course lie not only in the stable foreign trade policy decided by the recently held Central Economic Work Conference,but also in the strength and resilience of a broadbased and fast-growing economy.

  14. Trading Agents

    CERN Document Server

    Wellman, Michael

    2011-01-01

    Automated trading in electronic markets is one of the most common and consequential applications of autonomous software agents. Design of effective trading strategies requires thorough understanding of how market mechanisms operate, and appreciation of strategic issues that commonly manifest in trading scenarios. Drawing on research in auction theory and artificial intelligence, this book presents core principles of strategic reasoning that apply to market situations. The author illustrates trading strategy choices through examples of concrete market environments, such as eBay, as well as abst

  15. Toward optimal organ at risk sparing in complex volumetric modulated arc therapy: An exponential trade-off with target volume dose homogeneity

    Energy Technology Data Exchange (ETDEWEB)

    Tol, Jim P., E-mail: j.tol@vumc.nl; Dahele, Max; Doornaert, Patricia; Slotman, Ben J.; Verbakel, Wilko F. A. R. [Department of Radiation Oncology, VU University Medical Center, De Boelelaan 1117, 1081 HV Amsterdam (Netherlands)

    2014-02-15

    Purpose: Conventional radiotherapy typically aims for homogenous dose in the planning target volume (PTV) while sparing organs at risk (OAR). The authors quantified and characterized the trade-off between PTV dose inhomogeneity (IH) and OAR sparing in complex head and neck volumetric modulated arc therapy plans. Methods: Thirteen simultaneous integrated boost plans were created per patient, for ten patients. PTV boost{sub (B)}/elective{sub (E)} optimization priorities were systematically increased. IH{sub B} and IH{sub E}, defined as (100% − V95%) + V107%, were evaluated against the average of the mean dose to the combined composite swallowing and combined salivary organs (D-OAR{sub comp}). To investigate the influence of OAR size and position with respect to PTV{sub B/E}, OAR dose was evaluated against a modified Euclidean distance (DM{sub B}/DM{sub E}) between OAR and PTV. Results: Although the achievable D-OAR{sub comp} for a given level of PTV IH differed between patients, excellent logarithmic fits described the D-OAR{sub comp}/IH{sub B} and IH{sub E} relationship in all patients (mean R{sup 2} of 0.98 and 0.97, respectively). Allowing an increase in average IH{sub B} and IH{sub E} over a clinically acceptable range, e.g., from 0.4% ± 0.5% to 2.0% ± 2.0% and 6.9% ± 2.8% to 14.8% ± 2.7%, respectively, corresponded to a decrease in average dose to the composite salivary and swallowing structures from 30.3 ± 6.5 to 23.6 ± 4.7 Gy and 32.5 ± 8.3 to 26.8 ± 9.3 Gy. The increase in PTV{sub E} IH was mainly accounted for by an increase in V107, by on average 5.9%, rather than a reduction in V95, which was on average only 2%. A linear correlation was found between the OAR dose to composite swallowing structures and contralateral parotid and submandibular gland, with DM{sub E} (R{sup 2} = 0.83, 0.88, 0.95). Only mean ipsilateral parotid dose correlated with DM{sub B} (R{sup 2} = 0.87). Conclusions: OAR sparing is highly dependent on the permitted PTV{sub B

  16. Florence Richardson Wyckoff (1905-1997), Fifty Years of Grassroots Social ActivismVolume III: Watsonville Years 1960-1985

    OpenAIRE

    1990-01-01

    Florence Wyckoff's three-volume oral history documents her remarkable, lifelong work as a social activist, during which she has become nationally recognized as an advocate of migrant families and children. From the depression years through the 1970s, she pursued grassroots, democratic, community-building efforts in the service of improving public health standards and providing health care, education, and housing for migrant families. Major legislative milestones in her career of advocacy were...

  17. West Hackberry Strategic Petroleum Reserve site brine-disposal monitoring, Year I report. Volume III. Biological oceanography. Final report

    Energy Technology Data Exchange (ETDEWEB)

    DeRouen, L.R.; Hann, R.W.; Casserly, D.M.; Giammona, C.; Lascara, V.J. (eds.)

    1983-02-01

    The Department of Energy's Strategic Petroleum Reserve Program began discharging brine into the Gulf of Mexico from its West Hackberry site near Cameron, Louisiana in May 1981. The brine originates from underground salt domes being leached with water from the Intracoastal Waterway, making available vast underground storage caverns for crude oil. The effects of brine discharge on aquatic organisms are presented in this volume. The topics covered are: benthos; nekton; phytoplankton; zooplankton; and data management.

  18. Emissions Trading

    NARCIS (Netherlands)

    Woerdman, Edwin; Backhaus, Juergen

    2014-01-01

    Emissions trading is a market-based instrument to achieve environmental targets in a cost-effective way by allowing legal entities to buy and sell emission rights. The current international dissemination and intended linking of emissions trading schemes underlines the growing relevance of this

  19. Emissions Trading

    NARCIS (Netherlands)

    Woerdman, Edwin; Backhaus, Juergen

    2014-01-01

    Emissions trading is a market-based instrument to achieve environmental targets in a cost-effective way by allowing legal entities to buy and sell emission rights. The current international dissemination and intended linking of emissions trading schemes underlines the growing relevance of this instr

  20. Transport of solid commodities via freight pipeline: cost estimating methodology. Volume III, parts A and B. First year final report

    Energy Technology Data Exchange (ETDEWEB)

    Warner, J.A.; Morlok, E.K.; Gimm, K.K.; Zandi, I.

    1976-07-01

    In order to examine the feasibility of an intercity freight pipeline, it was necessary to develop cost equations for various competing transportation modes. This volume presents cost-estimating equations for rail carload, trailer-on-flatcar, truck, and freight pipeline. Section A presents mathematical equations that approximate the fully allocated and variable costs contained in the ICC cost tables for rail carload, trailer-on-flatcar (TOFC) and truck common-carrier intercity freight movements. These equations were developed to enable the user to approximate the ICC costs quickly and easily. They should find use in initial studies of costs where exact values are not needed, such as in consideration of rate changes, studies of profitability, and in general inter-modal comparisons. Section B discusses the development of a set of engineering cost equations for pneumo-capsule pipelines. The development was based on an analysis of system components and can readily be extended to other types of pipeline. The model was developed for the purpose of a feasibility study. It employs a limited number of generalized parameters and its use is recommended when sufficient detailed and specific engineering information is lacking. These models were used in the comparison of modes presented in Volume I and hence no conclusions regarding relative costs or service of the modes are presented here. The primary conclusion is that the estimates of costs resulting from these models is subject to considerable uncertainty.

  1. Inventory of Federal Energy-Related Environment and Safety Research for FY 1978. Volume III, interactive terminal users guide

    Energy Technology Data Exchange (ETDEWEB)

    Miller, C. E.; Barker, Janice F.

    1979-12-01

    This users' guide was prepared to provide interested persons access to, via computer terminals, federally funded energy-related environmental and safety research projects for FY 1978. Although this information is also available in hardbound volumes, this on-line searching capability is expected to reduce the time required to answer ad hoc questions and, at the same time, produce meaningful reports. The data contained in this data base are not exhaustive and represent research reported by the following agencies: Department of Agriculture, Department of Commerce, Department of Defense, Department of Energy, Department of Health, Education, and Welfare, Department of the Interior, Department of Transportation, Federal Energy Administration, National Aeronautics and Space Administration, National Science Foundation, Nuclear Regulatory Commission, Tennessee Valley Authority, U.S. Coast Guard, and the U.S. Environmental Protection Agency.

  2. Artificial heart development program. Volume II. System support. Phase III summary report, July 1, 1973--September 30, 1977

    Energy Technology Data Exchange (ETDEWEB)

    1977-01-01

    Volume 2 covers major activities of the Artificial Heart Development program that supported the design, fabrication, and test of the system demonstration units. Section A.1.0 provides a listing beyond that of the body of the report on the components needed for an implantation. It also presents glove box sterilization calibration results and results of an extensive mock circulation calibration. Section A.2.0 provides detailed procedures for assembly, preparing for use, and the use of the system and major components. Section A.3.0 covers the component research and development activities undertaken to improve components of the existing system units and to prepare for a future prototype system. Section A.4.0 provides a listing of the top assembly drawings of the major systems variations fabricated and tested.

  3. A股市场冲击下的交易量与收益率特征研究%Characteristics of Trading Volume and Market Return under Market Impact of Chinese Shanghai A-share Stock Market

    Institute of Scientific and Technical Information of China (English)

    王金鑫; 王春峰; 房振明

    2011-01-01

    Based on the non-parametric method of jump detection frame,combining the Chinese investor sentiment and market conditions,this paper researches the characteristics of market trading volume and return under the Shanghai A-share market impact,revealing how the information impacts the behavior of stock pricing from a more microcosmic view.The empirical results show that the market impact often occurs with great increase in trading volume,and the trading volume will decrease after the information integrated in the market price.Furthermore,the results also suggest that good news and bad news has asymmetry impact on market trading volume and stock returns,and that traders are more reactive to bad news in bull market and more sensitive to good news in bear market.%本文基于高频跳跃非参数识别框架,结合我国证券市场投资者情绪及市场环境,对上证A股市场冲击下的交易量与收益率特征进行研究,从更为微观的角度揭示信息快速融入过程中投资者的反应及市场交易状态和影响因素。研究发现,我国A股市场在市场冲击发生时往往伴随着交易量的大幅增加,冲击发生后交易量存在迅速下降的过程;利好、利空的市场冲击对市场交易量、收益率存在非对称影响,整体来说,投资者对利空消息更敏感,但在不同的市场情绪下投资者对市场冲击存在非理性反应,牛市时投资者倾向于对利空消息反应不足,而在熊市时倾向于对利好消息反应不足。

  4. Near Term Hybrid Passenger Vehicle Development Program. Phase I, Final report. Appendix B: trade-off studies. Volume II. Appendices. [SPEC-78

    Energy Technology Data Exchange (ETDEWEB)

    Traversi, M.; Piccolo, R.

    1979-06-15

    These appendices to the Near Term Hybrid Vehicle Trade-off Studies reports present data on the SPEC-78 computer model for simulating vehicle performance, fuel economy, and exhaust emissions; propulsion system alternatives; lead-acid and sodium-sulfur batteries; and production cost estimates. (LCL)

  5. Analysis of concentrating PV-T systems for the commercial/industrial sector. Volume IV. Design analysis and trade-off study

    Energy Technology Data Exchange (ETDEWEB)

    Schwinkendorf, W.E.

    1984-09-01

    Detailed reference designs developed for optimally sized photovoltaic-thermal (PV-T) systems are presented for three selected applications. The results of trade-off analyses to determine the effects of load variations, new components, changes in location, and variations in array cost are also discussed.

  6. Trade marketing

    OpenAIRE

    Khodl, Vojtěch

    2013-01-01

    The main objective of this thesis is to define the term "trade marketing" and evaluate its role within the Coca-Cola Hellenic Bottling Company. With the use of internal resources and relevant literature, I will describe the use of trade marketing from both theoretical and practical point of view. I will also introduce the Coca-Cola HBC and its position on the carbonated soft drinks market in the Czech republic.

  7. Imprinting Hatchery Reared Salmon and Steelhead Trout for Homing, Volume II of III; Data Summaries, 1978-1983 Final Report.

    Energy Technology Data Exchange (ETDEWEB)

    Slatick, Emil; Ringe, R.R.; Zaugg, Waldo S. (Northwest and Alaska Fisheries Science Center, Coastal Zone and Estuarine Studies Division, Seattle, WA)

    1988-02-02

    The main functions of the National Marine Fisheries Service (NMFS) aquaculture task biologists and contractual scientists involved in the 1978 homing studies were primarily a surveillance of fish physiology, disease, and relative survival during culture in marine net-pens, to determine if there were any unusual factors that might affect imprinting and homing behavior. The studies were conducted with little background knowledge of the implications of disease and physiology on imprinting and homing in salmonids. The health status or the stocks were quite variable as could be expected. The Dworshak and Wells Hatcheries steelhead suffered from some early stresses in seawater, probably osmoregulatory. The incidences of latent BKD in the Wells and Chelan Hatcheries steelhead and Kooskia Hatchery spring chinook salmon were extremely high, and how these will affect survival in the ocean is not known. Gill enzyme activity in the Dworshak and Chelan Hatcheries steelhead at release was low. Of the steelhead, survival in the Tucannon Hatchery stock will probably be the highest, with Dworshak Hatchery stock the lowest. This report contains the data for the narratives in Volume I.

  8. Black liquor combustion validated recovery boiler modeling: Final year report. Volume 3 (Appendices II, sections 2--3 and III)

    Energy Technology Data Exchange (ETDEWEB)

    Grace, T.M.; Frederick, W.J.; Salcudean, M.; Wessel, R.A.

    1998-08-01

    This project was initiated in October 1990, with the objective of developing and validating a new computer model of a recovery boiler furnace using a computational fluid dynamics (CFD) code specifically tailored to the requirements for solving recovery boiler flows, and using improved submodels for black liquor combustion based on continued laboratory fundamental studies. The key tasks to be accomplished were as follows: (1) Complete the development of enhanced furnace models that have the capability to accurately predict carryover, emissions behavior, dust concentrations, gas temperatures, and wall heat fluxes. (2) Validate the enhanced furnace models, so that users can have confidence in the predicted results. (3) Obtain fundamental information on aerosol formation, deposition, and hardening so as to develop the knowledge base needed to relate furnace model outputs to plugging and fouling in the convective sections of the boiler. (4) Facilitate the transfer of codes, black liquid submodels, and fundamental knowledge to the US kraft pulp industry. Volume 3 contains the following appendix sections: Formation and destruction of nitrogen oxides in recovery boilers; Sintering and densification of recovery boiler deposits laboratory data and a rate model; and Experimental data on rates of particulate formation during char bed burning.

  9. ELUCID - Exploring the Local Universe with reConstructed Initial Density field III: Constrained Simulation in the SDSS Volume

    CERN Document Server

    Wang, Huiyuan; Yang, Xiaohu; Zhang, Youcai; Shi, JingJing; Jing, Y P; Liu, Chengze; Li, Shijie; Kang, Xi; Gao, Yang

    2016-01-01

    A method we developed recently for the reconstruction of the initial density field in the nearby Universe is applied to the Sloan Digital Sky Survey Data Release 7. A high-resolution N-body constrained simulation (CS) of the reconstructed initial condition, with $3072^3$ particles evolved in a 500 Mpc/h box, is carried out and analyzed in terms of the statistical properties of the final density field and its relation with the distribution of SDSS galaxies. We find that the statistical properties of the cosmic web and the halo populations are accurately reproduced in the CS. The galaxy density field is strongly correlated with the CS density field, with a bias that depend on both galaxy luminosity and color. Our further investigations show that the CS provides robust quantities describing the environments within which the observed galaxies and galaxy systems reside. Cosmic variance is greatly reduced in the CS so that the statistical uncertainties can be controlled effectively even for samples of small volumes...

  10. Heterogeneous trade agreements, WTO membership and international trade : an analysis using matching econometrics

    NARCIS (Netherlands)

    Kohl, Tristan; Trojanowska, Sofia

    2015-01-01

    This article explores the heterogeneous effects of trade agreements (TAs) and World Trade Organization (WTO) membership on the volume of international trade. We extend Baier and Bergstrand’s (2009a) application of matching econometrics by distinguishing between different types of TAs and WTO partici

  11. Heterogeneous trade agreements, WTO membership and international trade : an analysis using matching econometrics

    NARCIS (Netherlands)

    Kohl, Tristan; Trojanowska, Sofia

    2015-01-01

    This article explores the heterogeneous effects of trade agreements (TAs) and World Trade Organization (WTO) membership on the volume of international trade. We extend Baier and Bergstrand’s (2009a) application of matching econometrics by distinguishing between different types of TAs and WTO

  12. Application analysis of solar total energy systems to the residential sector. Volume III, conceptual design. Final report

    Energy Technology Data Exchange (ETDEWEB)

    1979-07-01

    The objective of the work described in this volume was to conceptualize suitable designs for solar total energy systems for the following residential market segments: single-family detached homes, single-family attached units (townhouses), low-rise apartments, and high-rise apartments. Conceptual designs for the total energy systems are based on parabolic trough collectors in conjunction with a 100 kWe organic Rankine cycle heat engine or a flat-plate, water-cooled photovoltaic array. The ORC-based systems are designed to operate as either independent (stand alone) systems that burn fossil fuel for backup electricity or as systems that purchase electricity from a utility grid for electrical backup. The ORC designs are classified as (1) a high temperature system designed to operate at 600/sup 0/F and (2) a low temperature system designed to operate at 300/sup 0/F. The 600/sup 0/F ORC system that purchases grid electricity as backup utilizes the thermal tracking principle and the 300/sup 0/F ORC system tracks the combined thermal and electrical loads. Reject heat from the condenser supplies thermal energy for heating and cooling. All of the ORC systems utilize fossil fuel boilers to supply backup thermal energy to both the primary (electrical generating) cycle and the secondary (thermal) cycle. Space heating is supplied by a central hot water (hydronic) system and a central absorption chiller supplies the space cooling loads. A central hot water system supplies domestic hot water. The photovoltaic system uses a central electrical vapor compression air conditioning system for space cooling, with space heating and domestic hot water provided by reject heat from the water-cooled array. All of the systems incorporate low temperature thermal storage (based on water as the storage medium) and lead--acid battery storage for electricity; in addition, the 600/sup 0/F ORC system uses a therminol-rock high temperature storage for the primary cycle. (WHK)

  13. Terms of Trade and Global Efficiency Effects of Free Trade Agreements, 1990-2002

    OpenAIRE

    Anderson, James; Yotov, Yoto

    2012-01-01

    This paper infers the terms of trade effects of the Free Trade Agreements (FTAs) of the 1990s. Using panel data methods to resolve two way causality between trade and FTAs, we estimate large FTA effects on bilateral trade volume in digit manufacturing goods from 1990-2002. We deduce the terms of trade changes implied by these volume effects for 40 countries plus a rest-of-the-world aggregate using the structural gravity model. Some countries gain over 10%, some lose less than 0.2%. Overall, u...

  14. Orbital transfer vehicle concept definition and system analysis study. Volume 2: OTV concept definition and evaluation. Book 3: Subsystem trade studies

    Science.gov (United States)

    Dickman, Glen J.

    1987-01-01

    The technical trade studies and analyses reported in this book represent the accumulated work of the technical staff for the contract period. The general disciplines covered are as follows: (1) Guidance, Navigation, and Control; (2) Avionics Hardware; (3) Aeroassist Technology; (4) Propulsion; (5) Structure and Materials; and (6) Thermal Control Technology. The objectives in each of these areas were to develop the latest data, information, and analyses in support of the vehicle design effort.

  15. Extracting Geography from Trade Data

    CERN Document Server

    Li, Yuke; Marshall, Nicholas; Steinerberger, Stefan

    2016-01-01

    The gravity equation has been successful in establishing a connection between the amount of trade between two countries, their respective gross domestic products and "distance" (a complex notion including geographical, historical, linguistic and sociological components). We take the inverse route and show that it is possible to construct a meaningful 'distance' without any external information simply from knowing the bilateral trade volumes between countries. The main tool is a non-standard interpretation of trade flows data as a set of high-dimensional points and the use of mathematical tools to perform dimensionality reduction. This may have further applications for problems in long-term economic analysis, cartel detection and others.

  16. LIQUID PHASE FISCHER-TROPSCH (III & IV) DEMONSTRATION IN THE LAPORTE ALTERNATIVE FUELS DEVELOPMENT UNIT. Final Topical Report. Volume I/II: Main Report. Task 1: Engineering Modifications (Fischer-Tropsch III & IV Demonstration) and Task 2: AFDU Shakedown, Operations, Deactivation (Shut-Down) and Disposal (Fischer-Tropsch III & IV Demonstration).

    Energy Technology Data Exchange (ETDEWEB)

    Bharat L. Bhatt

    1999-06-01

    Slurry phase Fischer-Tropsch technology was successfully demonstrated in DOE's Alternative Fuels Development Unit (AFDU) at LaPorte, Texas. Earlier work at LaPorte, with iron catalysts in 1992 and 1994, had established proof-of-concept status for the slurry phase process. The third campaign (Fischer-Tropsch III), in 1996, aimed at aggressively extending the operability of the slurry reactor using a proprietary cobalt catalyst. Due to an irreversible plugging of catalyst-wax separation filters as a result of unexpected catalyst fines generation, the operations had to be terminated after seven days on-stream. Following an extensive post-run investigation by the participants, the campaign was successfully completed in March-April 1998, with an improved proprietary cobalt catalyst. These runs were sponsored by the U. S. Department of Energy (DOE), Air Products & Chemicals, Inc., and Shell Synthetic Fuels, Inc. (SSFI). A productivity of approximately 140 grams (gm) of hydrocarbons (HC)/ hour (hr)-liter (lit) of expanded slurry volume was achieved at reasonable system stability during the second trial (Fischer-Tropsch IV). The productivity ranged from 110-140 at various conditions during the 18 days of operations. The catalyst/wax filters performed well throughout the demonstration, producing a clean wax product. For the most part, only one of the four filter housings was needed for catalyst/wax filtration. The filter flux appeared to exceed the design flux. A combination of use of a stronger catalyst and some innovative filtration techniques were responsible for this success. There was no sign of catalyst particle attrition and very little erosion of the slurry pump was observed, in contrast to the Fischer-Tropsch III operations. The reactor operated hydrodynamically stable with uniform temperature profile and gas hold-ups. Nuclear density and differential pressure measurements indicated somewhat higher than expected gas hold-up (45 - 50 vol%) during Fischer

  17. Epidemic Trade

    DEFF Research Database (Denmark)

    Boerner, Lars; Severgnini, Battista

    This paper studies the spread of the Black Death as a proxy for the intensity of medieval trade flows between 1346 and 1351. The Black Death struck most areas of Europe and the wider Mediterranean. Based on a modied version of the gravity model, we estimate the speed (in kilometers per day...

  18. "Most Difficult Year"——Sino-Russian Bilateral Trade in 2009

    Institute of Scientific and Technical Information of China (English)

    GUO Yan

    2010-01-01

    @@ Russia is one of China's most important trading partners.Severely affected by last year's financial crisis,Sino-Russian bilateral trade has fluctuated greatly.Recently in Beijing,Russian Ambassador to China Sergey Razov said that the volume of bilateral trade has declined sharply last year,and he predicted that in 2009 trade volume declined by 25% or even more.

  19. Patent Abstract Digest. Volume III.

    Science.gov (United States)

    1981-09-01

    FOR TIlE MULTIPURPOSE 4.122,675 10/1978 Polyak ........................... 60/641 X UTILIZATION OF SOLAR ENERGY FOREIGN PATENT DOCUMENTS 1761 Inventor...contained in Ohio 40"menf .of em W arat thot such use be fro* ffe Pivately owned riht. A 00300 AFSC ar*P7 79c R&LD RECORD (PatentI Abet...., lv PATENT

  20. Meliolales of India - Volume III

    Directory of Open Access Journals (Sweden)

    V.B. Hosagoudar

    2013-04-01

    Full Text Available This work, is the continuation of my preceding two works on Meliolales of India, gives an account of 123 fungal species belonging to five genera, Amazonia (3, Appendiculella (1, Asteridiella (22, Ectendomeliola (1, Irenopsis (8 and Meliola (88, infecting 120 host plants belonging to 49 families. Generic key, digital formula, synoptic key to the species is provided. In the key, all the species are arranged under their alphabetically arranged host families. Description of the individual species is provided with the citation, detailed description, materials examined and their details including their herbarium details. Each species is supplemented with line drawings. Host and the species index is provided at the end. This work includes five new species: Meliola arippaensis, M. calycopteridis, M. cariappae, M. harpullicola and M. mutabilidis; a new variety: Irenopsis hiptages Yamam. Var. indica and two new names: Asteridiella micheliifolia (based on A. micheliae and Meliola strombosiicola (based on Meliola strombosiae

  1. Virtual water trade and country vulnerability: A network perspective

    Science.gov (United States)

    Sartori, Martina; Schiavo, Stefano

    2015-04-01

    This work investigates the relationship between countries' participation in virtual water trade and their vulnerability to external shocks from a network perspective. In particular, we investigate whether (i) possible sources of local national crises may interact with the system, propagating through the network and affecting the other countries involved; (ii) the topological characteristics of the international agricultural trade network, translated into virtual water-equivalent flows, may favor countries' vulnerability to external crises. Our work contributes to the debate on the potential merits and risks associated with openness to trade in agricultural and food products. On the one hand, trade helps to ensure that even countries with limited water (and other relevant) resources have access to sufficient food and contribute to the global saving of water. On the other hand, there are fears that openness may increase the vulnerability to external shocks and thus make countries worse off. Here we abstract from political considerations about food sovereignty and independence from imports and focus instead on investigating whether the increased participation in global trade that the world has witnessed in the last 30 years has made the system more susceptible to large shocks. Our analysis reveals that: (i) the probability of larger supply shocks has not increased over time; (ii) the topological characteristics of the VW network are not such as to favor the systemic risk associated with shock propagation; and (iii) higher-order interconnections may reveal further important information about the structure of a network. Regarding the first result, fluctuations in output volumes, among the sources of shock analyzed here, are more likely to generate some instability. The first implication is that, on one side, past national or regional economic crises were not necessarily brought about or strengthened by global trade. The second, more remarkable, implication is that, on

  2. Trading in Target Stocks Before Takeover Announcements: An Analysis of Stock and Option Markets

    OpenAIRE

    Marcus Clements; Harminder Singh; Antonie Van Eekelen

    2007-01-01

    In this study we examine both informed trading and contraire trading preceding takeover announcements on US target firms. Our findings suggest that both informed trading and contraire trading exists within the period preceding takeover announcements on both the stock and option markets as evident through abnormal returns and trading volumes. In regard to contraire trading, this study investigates possible explanations for its existence including liquidity clustering, falsely informed trading ...

  3. Trading in Target Stocks Before Takeover Announcements: An Analysis of Stock and Option Markets

    OpenAIRE

    Marcus Clements; Harminder Singh; Antonie Van Eekelen

    2007-01-01

    In this study we examine both informed trading and contraire trading preceding takeover announcements on US target firms. Our findings suggest that both informed trading and contraire trading exists within the period preceding takeover announcements on both the stock and option markets as evident through abnormal returns and trading volumes. In regard to contraire trading, this study investigates possible explanations for its existence including liquidity clustering, falsely informed trading ...

  4. Trading stages

    DEFF Research Database (Denmark)

    Steiner, Uli; Tuljapurkar, Shripad; Coulson, Tim

    2012-01-01

    Interest in stage-and age structured models has recently increased because they can describe quantitative traits such as size that are left out of age-only demography. Available methods for the analysis of effects of vital rates on lifespan in stage-structured models have not been widely applied ...... examples. Much of our approach relies on trading of time and mortality risk in one stage for time and risk in others. Our approach contributes to the new framework of the study of age- and stage-structured biodemography....

  5. Anonymous electronic trading versus floor trading

    OpenAIRE

    Franke, Günter; Hess, Dieter

    1995-01-01

    This paper compares the attractiveness of floor trading and anonymous electronic trading systems. It is argued that in times of low information intensity the insight into the order book of the electronic trading system provides more valuable information than floor trading, but in times of high information intensity the reverse is true. Thus, the electronic system's market share in trading activity should decline in times of high information intensity. This hypothesis is tested by data on BUND...

  6. Anonymous electronic trading versus floor trading

    OpenAIRE

    Franke, Günter; Hess, Dieter

    1995-01-01

    This paper compares the attractiveness of floor trading and anonymous electronic trading systems. It is argued that in times of low information intensity the insight into the order book of the electronic trading system provides more valuable information than floor trading, but in times of high information intensity the reverse is true. Thus, the electronic system's market share in trading activity should decline in times of high information intensity. This hypothesis is tested by data on BUND...

  7. Free Trade and Tariffs: Level III, Unit 2, Lesson 1; Capitalism, Communism, Socialism: Lesson 2; Nationalism vs. Internationalism: Lesson 3. Advanced General Education Program. A High School Self-Study Program.

    Science.gov (United States)

    Manpower Administration (DOL), Washington, DC. Job Corps.

    This self-study program for high-school level contains lessons on: Free Trade and Tariffs; Capitalism, Communism, Socialism; and Nationalism vs. Internationalism. Each of the lessons concludes with a Mastery Test to be completed by the student. (DB)

  8. Risk assessement and feasibility study of solid waste minimization, recycling, and disposal at Huta Sendzimira, Krakow, Poland. Volume 1. Export trade information

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-10-01

    The scope of work included an investigation of opportunities to reduce the amount of solid waste that must be disposed of by Huta Sendzimira and opportunities to use and/or recycle materials that have accumulated in the waste pile for several years. The study also included an evaluation of the existing waste pile as a possible area to be developed into a modern, sanitary landfill to serve both the steel mill and the citizens of the Krakow area. Volume I contains: (1) Site Assessment; (2) Risk Assessment; (3) Waste Characterization; (4) Waste Pile Utilization; (5) Waste Minimization; and (6) Sanitary Landfill.

  9. Proceedings of the International Conference on the Psychology of Mathematics Education (PME) (11th, Montreal, Canada, July 19-25, 1987). Volumes I-III.

    Science.gov (United States)

    Bergeron, Jacques C., Ed.; And Others

    The Proceedings of PME-XI has been published in three separate volumes because of the large total of 161 individual conference papers reported. Volume I contains four plenary papers, all on the subject of "constructivism," and 44 commented papers arranged under 4 themes. Volume II contains 56 papers (39 commented; 17 uncommented)…

  10. Proceedings of the International Conference on the Psychology of Mathematics Education (PME) (17th, Tsukuba, Japan, July 18-23, 1993). Volumes I-III.

    Science.gov (United States)

    Hirabayashi, Ichiei, Ed.; And Others

    The Proceedings of PME-XVII has been published in three volumes because of the large number of papers presented at the conference. Volume I contains a brief Plenary Panel report, 4 full-scale Plenary Addresses, the brief reports of 10 Working Groups and 4 Discussion Groups, and a total of 23 Research Reports grouped under 4 themes. Volume II…

  11. Statistical mechanics of the international trade network.

    Science.gov (United States)

    Fronczak, Agata; Fronczak, Piotr

    2012-05-01

    Analyzing real data on international trade covering the time interval 1950-2000, we show that in each year over the analyzed period the network is a typical representative of the ensemble of maximally random weighted networks, whose directed connections (bilateral trade volumes) are only characterized by the product of the trading countries' GDPs. It means that time evolution of this network may be considered as a continuous sequence of equilibrium states, i.e., a quasistatic process. This, in turn, allows one to apply the linear response theory to make (and also verify) simple predictions about the network. In particular, we show that bilateral trade fulfills a fluctuation-response theorem, which states that the average relative change in imports (exports) between two countries is a sum of the relative changes in their GDPs. Yearly changes in trade volumes prove that the theorem is valid.

  12. NONLINEAR ANALYSIS OF FINANCIAL SYSTEMS:EXPLORING THE NONLINEAR IMPACT OF THE TRADING VOLUME ON THE PRICE VOLATILITY%金融系统的非线性分析:交易量对股价波动的非线性影响

    Institute of Scientific and Technical Information of China (English)

    彭海伟; 卢祖帝

    2009-01-01

    Exploring the relationship between price volatility and trading volume in financial market has been a hot topic in the study of financial systems. Lamoureux and Lastrapes advance that the daily trading volume is a proper measure of the information arrivals at the market, but they assume that this impact of the trading volume on the price volatility is linear. In this paper, we propose a partially nonlinear GARCH model, together with local linear maximum likelihood estimation method, to examine the nonlinear relationship between the trading volume and the price volatility. Using the data sets of 20 stocks from the Chinese stock market, we empirically demonstrate that the impact of the trading volume on the stock price volatility is significantly nonlinear. An empirical parametric power function is also suggested for this nonlinear impact, which is more significantly reasonable than the linear impact hypothesis.%如何研究股价波动和成交量之间的关系一直是金融系统研究中感兴趣的话题.Lamoureux和Lastrapes认为选择日交易量度量每天流入市场的信息量是合理的,但他们假定交易量对波动率的影响是线性的.提出部分非线性GARCH模型分析交易量对股票市场波动率的影响,基于GARCH模型局部线性化非参数似然估计方法,对中国证券市场股票价格和交易量数据进行实证研究.结果表明,交易量对股价波动的影响具有显著的非线性性.

  13. Sustainable International Bioenergy Trade. Evaluating the impact of sustainability criteria and policy on past and future bioenergy supply and trade

    NARCIS (Netherlands)

    Lamers, Patrick

    2014-01-01

    Within a single decade, bioenergy has shifted from a largely local energy source with marginal trade volumes to a globally traded item. The primary objective of this thesis is to evaluate the links between national renewable energy support and trade policies and market forces on past global bioenerg

  14. Sustainable International Bioenergy Trade. Evaluating the impact of sustainability criteria and policy on past and future bioenergy supply and trade

    NARCIS (Netherlands)

    Lamers, Patrick

    2014-01-01

    Within a single decade, bioenergy has shifted from a largely local energy source with marginal trade volumes to a globally traded item. The primary objective of this thesis is to evaluate the links between national renewable energy support and trade policies and market forces on past global

  15. Sustainable International Bioenergy Trade. Evaluating the impact of sustainability criteria and policy on past and future bioenergy supply and trade

    NARCIS (Netherlands)

    Lamers, Patrick

    2014-01-01

    Within a single decade, bioenergy has shifted from a largely local energy source with marginal trade volumes to a globally traded item. The primary objective of this thesis is to evaluate the links between national renewable energy support and trade policies and market forces on past global bioenerg

  16. The Ningxia Trade Link

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    High-level forum helps strengthen China-Arab trade and economic cooperation Trade deals were plentiful at the first China-Arab States Economic and Trade Forum last month, with over 190 deals on investment cooperation

  17. Intraday Trading of Wind Energy

    DEFF Research Database (Denmark)

    Skajaa, Anders; Edlund, Kristian; Morales González, Juan Miguel

    2015-01-01

    In this paper, we tackle the problem of a wind power producer participating in a short-term electricity market that allows for the continuous, but potentially illiquid, intraday trading of energy. Considering the realistic case of a wind farm operating in the western Danish price area of Nord Pool......, we build a simple but effective algorithm for the wind power producer to fully benefit from the Elbas intraday market. We then investigate the sensitivity of the obtained benefits to the maximum volume of energy the wind power producer is willing to trade in the intraday market, the ultimate aim...... of the trade (either to decrease energy imbalances or to increase profits) and to the installed capacity of the wind farm. Our numerical results reveal that the wind power producer can substantially increase his revenues by partaking in the intraday market but with diminishing returns to scale—a result that we...

  18. Proceedings of the Conference of the International Group for the Psychology of Mathematics Education (PME) (16th, Durham, NH, August 6-11, 1992). Volumes I-III.

    Science.gov (United States)

    Geeslin, William, Ed.; Graham, Karen, Ed.

    The Proceedings of PME-XVI has been published in three volumes because of the large number of papers presented at the conference. Volume 1 contains: (1) brief reports from each of the 11 standing Working Groups on their respective roles in organizing PME-XVI; (2) brief reports from 6 Discussion Groups; and (3) 35 research reports covering authors…

  19. Google matrix analysis of the multiproduct world trade network

    Science.gov (United States)

    Ermann, Leonardo; Shepelyansky, Dima L.

    2015-04-01

    Using the United Nations COMTRADE database [United Nations Commodity Trade Statistics Database, available at: http://comtrade.un.org/db/. Accessed November (2014)] we construct the Google matrix G of multiproduct world trade between the UN countries and analyze the properties of trade flows on this network for years 1962-2010. This construction, based on Markov chains, treats all countries on equal democratic grounds independently of their richness and at the same time it considers the contributions of trade products proportionally to their trade volume. We consider the trade with 61 products for up to 227 countries. The obtained results show that the trade contribution of products is asymmetric: some of them are export oriented while others are import oriented even if the ranking by their trade volume is symmetric in respect to export and import after averaging over all world countries. The construction of the Google matrix allows to investigate the sensitivity of trade balance in respect to price variations of products, e.g. petroleum and gas, taking into account the world connectivity of trade links. The trade balance based on PageRank and CheiRank probabilities highlights the leading role of China and other BRICS countries in the world trade in recent years. We also show that the eigenstates of G with large eigenvalues select specific trade communities.

  20. Entropy of international trades

    Science.gov (United States)

    Oh, Chang-Young; Lee, D.-S.

    2017-05-01

    The organization of international trades is highly complex under the collective efforts towards economic profits of participating countries given inhomogeneous resources for production. Considering the trade flux as the probability of exporting a product from a country to another, we evaluate the entropy of the world trades in the period 1950-2000. The trade entropy has increased with time, and we show that it is mainly due to the extension of trade partnership. For a given number of trade partners, the mean trade entropy is about 60% of the maximum possible entropy, independent of time, which can be regarded as a characteristic of the trade fluxes' heterogeneity and is shown to be derived from the scaling and functional behaviors of the universal trade-flux distribution. The correlation and time evolution of the individual countries' gross-domestic products and the number of trade partners show that most countries achieved their economic growth partly by extending their trade relationship.

  1. The Ideas of Constructing Border Small-volume Trade Commodity Exchange Center and Its Possibility Analysis%对俄沿边口岸小额贸易商品交易中心构建设想及可行性分析

    Institute of Scientific and Technical Information of China (English)

    成榕

    2015-01-01

    At present, the economic sanction led to the rupture between America and Russia, as a result, Russia quested the cooperation with the brick countries in Asia, objectively, which made the strategic alliance between Russia and China.The consanguineous geographical relationship that the port in Chinese Northeast province made with Russian far-east area is a strategic bridgehead during the period of the new time for Rus-sian trade;border small-volume trade is the main trade form of geographical relationship.In order to meet the market need of these company importing and exporting small-scale border trade between China and Russia, and solve trade bottleneck, then open up the times pulse of information’ s transparency and reliability, it is ur-gent to set up the regional commodities exchange center.The major factor why it has settlement risk on border small-volume trade is the transaction cost problem, according to transaction rules, trade category, transaction commissions pricing, transaction, and management design 5 perspectives,it can build northeast key port border small-volume trade commodities exchange center for Russia.%现今美欧对俄罗斯经济的制裁,导致俄罗斯与美欧之间的决裂,俄罗斯客观上寻求与亚洲金砖国的合作,与中国形成战略同盟。中国东北沿边口岸与俄罗斯远东地区密切的地缘关系,是对俄贸易在新时期的战略桥头堡,其中边境小额贸易是主要的贸易形式。为满足中俄进出口边境小额贸易公司的市场需求,解决贸易瓶颈问题,打通信息透明度、可信度的时代脉搏,迫切需要建立区域性的商品交易中心。边境小额贸易结算风险存在的主要因素就是交易成本问题,从交易规则、交易品种、交易佣金定价、交易业务、管理层设计五个角度构建东北对俄沿边重点口岸边境小额贸易商品交易中心。

  2. Analysis and Approach to the Development of an Advanced Multimedia Instructional System. Volume II. Appendix III. Media Cost Data. Final Report.

    Science.gov (United States)

    Rhode, William E.; And Others

    Basic cost estimates for selected instructional media are tabled in this document, Part II (Appendix III) of the report "Analysis and Approach to the Development of an Advanced Multimedia Instructional System" by William E. Rhode and others. Learning materials production costs are given for motion pictures, still visuals, videotapes, live…

  3. Nutrition and Health Characteristics of Low-Income Populations, Volume III, School-Age Children. E-FAN-04-014-3

    Science.gov (United States)

    Fox, Mary Kay; Cole, Nancy

    2004-01-01

    Data from the Third National Health and Nutrition Examination Survey (NHANES-III), conducted in 1988-94, were used to compare the nutrition and health characteristics of the Nation's school-age children--boys and girls ages 5-18. Three groups of children were compared based on household income: income at or below 130 percent of poverty (lowest…

  4. Social signals and algorithmic trading of Bitcoin.

    Science.gov (United States)

    Garcia, David; Schweitzer, Frank

    2015-09-01

    The availability of data on digital traces is growing to unprecedented sizes, but inferring actionable knowledge from large-scale data is far from being trivial. This is especially important for computational finance, where digital traces of human behaviour offer a great potential to drive trading strategies. We contribute to this by providing a consistent approach that integrates various datasources in the design of algorithmic traders. This allows us to derive insights into the principles behind the profitability of our trading strategies. We illustrate our approach through the analysis of Bitcoin, a cryptocurrency known for its large price fluctuations. In our analysis, we include economic signals of volume and price of exchange for USD, adoption of the Bitcoin technology and transaction volume of Bitcoin. We add social signals related to information search, word of mouth volume, emotional valence and opinion polarization as expressed in tweets related to Bitcoin for more than 3 years. Our analysis reveals that increases in opinion polarization and exchange volume precede rising Bitcoin prices, and that emotional valence precedes opinion polarization and rising exchange volumes. We apply these insights to design algorithmic trading strategies for Bitcoin, reaching very high profits in less than a year. We verify this high profitability with robust statistical methods that take into account risk and trading costs, confirming the long-standing hypothesis that trading-based social media sentiment has the potential to yield positive returns on investment.

  5. Social signals and algorithmic trading of Bitcoin

    Science.gov (United States)

    Garcia, David; Schweitzer, Frank

    2015-01-01

    The availability of data on digital traces is growing to unprecedented sizes, but inferring actionable knowledge from large-scale data is far from being trivial. This is especially important for computational finance, where digital traces of human behaviour offer a great potential to drive trading strategies. We contribute to this by providing a consistent approach that integrates various datasources in the design of algorithmic traders. This allows us to derive insights into the principles behind the profitability of our trading strategies. We illustrate our approach through the analysis of Bitcoin, a cryptocurrency known for its large price fluctuations. In our analysis, we include economic signals of volume and price of exchange for USD, adoption of the Bitcoin technology and transaction volume of Bitcoin. We add social signals related to information search, word of mouth volume, emotional valence and opinion polarization as expressed in tweets related to Bitcoin for more than 3 years. Our analysis reveals that increases in opinion polarization and exchange volume precede rising Bitcoin prices, and that emotional valence precedes opinion polarization and rising exchange volumes. We apply these insights to design algorithmic trading strategies for Bitcoin, reaching very high profits in less than a year. We verify this high profitability with robust statistical methods that take into account risk and trading costs, confirming the long-standing hypothesis that trading-based social media sentiment has the potential to yield positive returns on investment. PMID:26473051

  6. Migration and Trade: A Complex-Network Approach

    CERN Document Server

    Fagiolo, Giorgio

    2013-01-01

    This paper explores the relationships between migration and trade using a complex-network approach. We show that: (i) both weighted and binary versions of the networks of international migration and trade are strongly correlated; (ii) such correlations can be mostly explained by country economic/demographic size and geographical distance; (iii) pairs of countries that are more central in the international-migration network trade more.

  7. Bilateral Trade Flows and Income Distribution Similarity.

    Science.gov (United States)

    Martínez-Zarzoso, Inmaculada; Vollmer, Sebastian

    2016-01-01

    Current models of bilateral trade neglect the effects of income distribution. This paper addresses the issue by accounting for non-homothetic consumer preferences and hence investigating the role of income distribution in the context of the gravity model of trade. A theoretically justified gravity model is estimated for disaggregated trade data (Dollar volume is used as dependent variable) using a sample of 104 exporters and 108 importers for 1980-2003 to achieve two main goals. We define and calculate new measures of income distribution similarity and empirically confirm that greater similarity of income distribution between countries implies more trade. Using distribution-based measures as a proxy for demand similarities in gravity models, we find consistent and robust support for the hypothesis that countries with more similar income-distributions trade more with each other. The hypothesis is also confirmed at disaggregated level for differentiated product categories.

  8. 49 CFR 392.51 - Reserve fuel; materials of trade.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 5 2010-10-01 2010-10-01 false Reserve fuel; materials of trade. 392.51 Section... COMMERCIAL MOTOR VEHICLES Fueling Precautions § 392.51 Reserve fuel; materials of trade. Small amounts of... Group II (including gasoline), Packing Group III (including aviation fuel and fuel oil), or ORM-D,...

  9. Price Categories Used in International Trade

    OpenAIRE

    PALIU - POPA Lucia

    2009-01-01

    In the current world economy conditions, development of any state can not be based solely on internal sources and the national economy results. Increased volume and diversification of cross-border transactions in goods and services, the dynamics of international capital flows, and the fast spread of technology, gives multiple values of foreign trade leading to growth of economic interlinks across the world countries. Through the foreign trade activity is carried out exchange of goods and s...

  10. 78 FR 73234 - Determination of Trade Surplus in Certain Sugar and Syrup Goods and Sugar-Containing Products of...

    Science.gov (United States)

    2013-12-05

    ... preferential tariff treatment under (i) the United States-Chile Free Trade Agreement (Chile FTA); (ii) the United States-Morocco Free Trade Agreement (Morocco FTA); (iii) the Dominican Republic-Central America- United States Free Trade Agreement (CAFTA-DR); (iv) the United States- Peru Trade Promotion...

  11. Energy use in the marine transportation industry: Task III. Efficiency improvements; Task IV. Industry future. Final report, Volume IV. [Projections for year 2000

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-12-01

    Tasks III and IV measure the characteristics of potential research and development programs that could be applied to the maritime industry. It was necessary to identify potential operating scenarios for the maritime industry in the year 2000 and determine the energy consumption that would result given those scenarios. After the introductory chapter the operational, regulatory, and vessel-size scenarios for the year 2000 are developed in Chapter II. In Chapter III, future cargo flows and expected levels of energy use for the baseline 2000 projection are determined. In Chapter IV, the research and development programs are introduced into the future US flag fleet and the energy-savings potential associated with each is determined. The first four appendices (A through D) describe each of the generic technologies. The fifth appendix (E) contains the baseline operating and cost parameters against which 15 program areas were evaluated. (MCW)

  12. Trade Performance: Highlights in the Crisis

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    @@ Figure On January 13, China Customs issued the annual profile of China's foreign trade,including import and export, in 2008. According to the Customs statistics, trade volume last year amounted to US$2.562trillion, a year-on-year growth of 17.8%.In the total amount, value of US$1.42 trillion goes for China's export growth, 17.2% up, while the import takes up US$1.13trillion, 18.5% up. The trade surplus stood at US$295.47 billion in 2008, increased by 12.5% year-on-year, with the net increase value of US$32.83 billion.

  13. Trade, development and sustainability

    DEFF Research Database (Denmark)

    Røpke, Inge

    1994-01-01

    Mainstream economic theory argues that trade, and especially free trade, is beneficial to everyone involved. This fundamental idea ? which has the character of a dogma ? still plays an important role in international discussions on trade issues, notably in relation to development and environment....... The purpose of this article is to critically assess the "free trade dogma" and to investigate the validity of widely used arguments concerning the relations between trade and development and between trade and environment. It is argued that the trading system is not something inherently good, which should...... be defended in all cases. Especially, the developing countries' benefits from trade have been very dubious. Furthermore, the trading system has contributed to environmental problems in several ways, e.g. generating undervaluation of natural resources, stimulating economic growth with environmental...

  14. Computer-Based Testing System. Project STEEL. A Special Project To Develop and Implement a Computer-Based Special Teacher Education and Evaluation Laboratory. Volume III. Final Report.

    Science.gov (United States)

    Frick, Theodore W.; And Others

    The document is part of the final report on Project STEEL (Special Teacher Education and Evaluation Laboratory) intended to extend the utilization of technology in the training of preservice special education teachers. This volume focuses on the third of four project objectives, the development and implementation of a computer-based testing…

  15. Study of Manpower Requirements by Occupation for Alternative Technologies in the Energy-Related Industries, 1970-1990. Volumes I, IIA, and III.

    Science.gov (United States)

    Gutmanis, Ivars; And Others

    The report presents the methodology used by the National Planning Association (NPA), under contract to the Federal Energy Administration (FEA), to estimate direct labor usage coefficients in some sixty different occupational categories involved in construction, operation, and maintenance of energy facilities. Volume 1 presents direct labor usage…

  16. Ada (Trade Name) Bibliography. Volume 2.

    Science.gov (United States)

    1984-03-01

    describes the characteristics that " such methologies should possess, Emphasis is given to the process by which software is developed for Ada applications...1. PP. 30-35. 01/82 This article is a proposal for an experiment to relate software metrics to software project observables , in particular to the...that arise in developing embedded software systems. The case studies are of two kinds: pedagogical and observational . The pedagogical case studies

  17. Space Biology Initiative. Trade Studies, volume 2

    Science.gov (United States)

    1989-01-01

    The six studies which are the subjects of this report are entitled: Design Modularity and Commonality; Modification of Existing Hardware (COTS) vs. New Hardware Build Cost Analysis; Automation Cost vs. Crew Utilization; Hardware Miniaturization versus Cost; Space Station Freedom/Spacelab Modules Compatibility vs. Cost; and Prototype Utilization in the Development of Space Hardware. The product of these six studies was intended to provide a knowledge base and methodology that enables equipment produced for the Space Biology Initiative program to meet specific design and functional requirements in the most efficient and cost effective form consistent with overall mission integration parameters. Each study promulgates rules of thumb, formulas, and matrices that serves as a handbook for the use and guidance of designers and engineers in design, development, and procurement of Space Biology Initiative (SBI) hardware and software.

  18. Space Biology Initiative. Trade Studies, volume 1

    Science.gov (United States)

    1989-01-01

    The six studies which are addressed are entitled: Design Modularity and Commonality; Modification of Existing Hardware (COTS) vs. New Hardware Build Cost Analysis; Automation Cost vs. Crew Utilization; Hardware Miniaturization versus Cost; Space Station Freedom/Spacelab Modules Compatibility vs. Cost; and Prototype Utilization in the Development of Space Hardware. The product of these six studies was intended to provide a knowledge base and methodology that enables equipment produced for the Space Biology Initiative program to meet specific design and functional requirements in the most efficient and cost effective form consistent with overall mission integration parameters. Each study promulgates rules of thumb, formulas, and matrices that serves has a handbook for the use and guidance of designers and engineers in design, development, and procurement of Space Biology Initiative (SBI) hardware and software.

  19. Ada (Trade Name) Bibliography. Volume 1.

    Science.gov (United States)

    1983-05-01

    FISHER, DR. DAVID A.; WETHERALL, PHILIP R. DOCUMENT NUMBER: 3435 DOCUMENT DATE: 01/78 TYPE: TECHNICAL REPORT This report discusses the considerations...SPONOR ADA JT. PROG. OFF., ARLINGTON, VA 22209 - DATABASE PORTABILITY ISSUES IN THE KAPSE KOTLER , REED S. DOCUMENT NUMBER: 3590 TYPE: PAPER KERNEL ADA...N,., BABEL, PHILIPS ., U.S.A.F. ASD,WRIGHT-PATTERSON AFB, OH 5653 -03 JOINT-SERVICE ACQUISITION MANAGEMENT INITIATIVES € BABICH, WAYNEA., SOFTECHINC

  20. Ada (Trade Name) Bibliography. Volume 3.

    Science.gov (United States)

    1986-02-01

    MARIA : FREEMAN. PETER: WASSERMAN, ANTHONY I. DOCUMENT NUMBER: 5484 DOCUMENT DATE: 11/82 TYPE: TECHNICAL REPORT In Spring, 1982, a questionnaire was...VALIDATION AVAILABLE FROM: THE AUTHOR SPONSORS: U.S.A.F. ASD,WRIGHT-PATTERSON AFB, OH AN ADA LANGUAGE PRIMER, PART I SAIB, SABINA H. DOCUMENT NUMBER: 6214...PRIMER, PART II SAIB, SABINA H. DOCUMENT NUMBER: 6215 TYPE: JOURNAL ARTICLE BYTE, VOL 9, ISSUE 6, 14 P. This article is the second of a two-part

  1. Redirecting International Trade

    DEFF Research Database (Denmark)

    Kokko, Ari; Söderlund, Bengt; Tingvall, Patrik Gustavsson

    The global financial crisis has accelerated the redirection of trade towards new markets, outside the OECD area, where both demand patterns and the institutional environment differ from those in the OECD. This study provides an empirical examination of the consequences of this shift. Results...... difficult to redirect towards markets with weak institutions....... suggest that weak institutions hamper trade and reduces the length of trade relations, especially for small firms. Furthermore, trade in industries that are characterized by a high degree of trade conflicts and that requires extensive relationship specific investments for trade to occur are comparatively...

  2. Redirecting International Trade

    DEFF Research Database (Denmark)

    Kokko, Ari; Söderlund, Bengt; Tingvall, Patrik Gustavsson

    2014-01-01

    The global financial crisis has contributed to the redirection of trade towards new markets outside the OECD area, where both demand patterns and the institutional environment differ from those in the OECD. This study provides an empirical examination of the consequences of this shift, based......-specific investments are particularly difficult to redirect towards markets with weak institutions....... on Swedish firm-level trade data. Results suggest that weak institutions hamper trade and reduce the length of trade relations, especially for small firms. Trade in industries that are characterized by a high frequency of trade conflicts and where transactions require extensive relationship...

  3. Reconfiguring trade mark law

    DEFF Research Database (Denmark)

    Elsmore, Matthew James

    2013-01-01

    -border setting, with a particular focus on small business and consumers. The article's overall message is to call for a rethink of received wisdom suggesting that trade marks are effective trade-enabling devices. The case is made for reassessing how we think about European trade mark law.......First, this article argues that trade mark law should be approached in a supplementary way, called reconfiguration. Second, the article investigates such a reconfiguration of trade mark law by exploring the interplay of trade marks and service transactions in the Single Market, in the cross...

  4. Three-dimensional changes of the hyoid bone and airway volumes related to its relationship with horizontal anatomic planes after bimaxillary surgery in skeletal Class III patients.

    Science.gov (United States)

    Kim, Min-Ah; Kim, Bo-Ram; Choi, Jin-Young; Youn, Jong-Kuk; Kim, Yoon-Ji R; Park, Yang-Ho

    2013-07-01

    To evaluate longitudinal changes of the hyoid bone position and pharyngeal airway space after bimaxillary surgery in mandibular prognathism patients. Cone-beam computed tomography scans were taken for 25 mandibular prognathism patients before surgery (T0), 2 months after surgery (T1), and 6 months after surgery (T2). The positional displacement of the hyoid bone was assessed using the coordinates at T0, T1, and T2. Additionally, the volume of each subject's pharyngeal airway was measured. The mean amount of posterior maxilla impaction was 3.76 ± 1.33 mm as the palatal plane rotated 2.04° ± 2.28° in a clockwise direction as a result of bimaxillary surgery. The hyoid bone moved backward (P .05, P bimaxillary surgery. The decrease in the pharyngeal airway volume was correlated to the changes in the palatal plane inclination and the positional change of the hyoid bone.

  5. Central Receiver Solar Thermal Power System, Phase 1. CDRL Item 2. Pilot Plant preliminary design report. Volume III, Book 1. Collector subsystem

    Energy Technology Data Exchange (ETDEWEB)

    Hallet, Jr., R. W.; Gervais, R. L.

    1977-10-01

    The central receiver system consists of a field of heliostats, a central receiver, a thermal storage unit, an electrical power generation system, and balance of plant. This volume discusses the collector field geometry, requirements and configuration. The development of the collector system and subsystems are discussed and the selection rationale outlined. System safety and availability are covered. Finally, the plans for collector portion of the central receiver system are reviewed.

  6. Line-focus solar central power system, Phase I. Final report, 29 September 1978 to 30 April 1980. Volume III. Appendices

    Energy Technology Data Exchange (ETDEWEB)

    Slemmons, A J

    1980-04-01

    The conceptual design, parametric analysis, cost and performance analysis, and commercial assessment of a 100-MWe line-focus solar central receiver power plant are reported. This volume contains the appendices: (a) methods of determination of molten salt heat-transfer coefficients and tube-wall temperatures, (b) inputs for STEAEC programs, (c) description of system analysis computer program, (d) receiver analysis program, and (e) heliostat production plan and design methodology. (WHK)

  7. Trade Agreements PTI

    Data.gov (United States)

    Department of Homeland Security — The objective of the Trade Agreements PTI is to advance CBP’s mission by working with internal and external stakeholders to facilitate legitimate trade and address...

  8. Trade in goods

    DEFF Research Database (Denmark)

    2006-01-01

    An analysis of the rules governing trade in goods under the GATT agreement and the Agreement on Safeguards......An analysis of the rules governing trade in goods under the GATT agreement and the Agreement on Safeguards...

  9. Virtual water trade flows and savings under climate change

    Science.gov (United States)

    Konar, Megan; Hussein, Zekarias; Hanasaki, Naota; Mauzerall, Denise; Rodriguez-Iturbe, Ignacio

    2014-05-01

    The international trade of food commodities links water and food systems, with important implications for both water and food security. The embodied water resources associated with food trade are referred to as `virtual water trade'. We present the first study of the impact of climate change on global virtual water trade flows and associated savings for the year 2030. In order to project virtual water trade and savings under climate change, it is essential to obtain projections of both bilateral crop trade and the virtual water content of crops in each country of production. We use the Global Trade Analysis Project model to estimate bilateral crop trade under changes in agricultural productivity for rice, soy, and wheat. We use the H08 global hydrologic model to determine the impact of climatic changes to crop evapotranspiration for rice, soy, and wheat in each country of production. Then, we combine projections of bilateral crop trade with estimates of virtual water content to obtain virtual water trade flows under climate change. We find that the total volume of virtual water trade is likely to go down under climate change, due to decreased crop trade from higher crop prices under scenarios of declining crop yields and due to decreased virtual water content under high agricultural productivity scenarios. However, the staple food trade is projected to save more water across most climate change scenarios, largely because the wheat trade re-organizes into a structure where large volumes of wheat are traded from relatively water-efficient exporters to less efficient importers.

  10. Enhanced Gravity Model of trade: reconciling macroeconomic and network models

    CERN Document Server

    Almog, Assaf; Garlaschelli, Diego

    2015-01-01

    The bilateral trade relations between world countries form a complex network, the International Trade Network (ITN), which is involved in an increasing number of worldwide economic processes, including globalization, integration, industrial production, and the propagation of shocks and instabilities. Characterizing the ITN via a simple yet accurate model is an open problem. The classical Gravity Model of trade successfully reproduces the volume of trade between two connected countries using known macroeconomic properties such as GDP and geographic distance. However, it generates a network with an unrealistically homogeneous topology, thus failing to reproduce the highly heterogeneous structure of the real ITN. On the other hand, network models successfully reproduce the complex topology of the ITN, but provide no information about trade volumes. Therefore macroeconomic and network models of trade suffer from complementary limitations but are still largely incompatible. Here, we make an important step forward ...

  11. African agricultural trade

    DEFF Research Database (Denmark)

    Jensen, Hans Grinsted; Sandrey, Ron

    2015-01-01

    This article starts with a profile of African agricultural trade. Using the pre-release version 9.2 of the GTAP database, we then show that the results for tariff elimination on intra-African trade are promising, but these tariff barriers are not as significant as the various trade-related barriers...

  12. Trade, development and sustainability

    DEFF Research Database (Denmark)

    Røpke, Inge

    1994-01-01

    Mainstream economic theory argues that trade, and especially free trade, is beneficial to everyone involved. This fundamental idea ? which has the character of a dogma ? still plays an important role in international discussions on trade issues, notably in relation to development and environment....

  13. Banking and Trading

    NARCIS (Netherlands)

    Boot, A.W.A.; Ratnovski, L.

    2016-01-01

    We study the interaction between relationship banking and short-term arm’s length activities of banks, called trading. We show that a bank can use the franchise value of its relationships to expand the scale of trading, but may allocate too much capital to trading ex post , compromising its ability

  14. Banking and Trading

    NARCIS (Netherlands)

    Boot, A.W.A.; Ratnovski, L.

    2016-01-01

    We study the interaction between relationship banking and short-term arm’s length activities of banks, called trading. We show that a bank can use the franchise value of its relationships to expand the scale of trading, but may allocate too much capital to trading ex post , compromising its ability

  15. III-V microelectronics

    CERN Document Server

    Nougier, JP

    1991-01-01

    As is well known, Silicon widely dominates the market of semiconductor devices and circuits, and in particular is well suited for Ultra Large Scale Integration processes. However, a number of III-V compound semiconductor devices and circuits have recently been built, and the contributions in this volume are devoted to those types of materials, which offer a number of interesting properties. Taking into account the great variety of problems encountered and of their mutual correlations when fabricating a circuit or even a device, most of the aspects of III-V microelectronics, from fundamental p

  16. Variations in target volume definition for postoperative radiotherapy in stage III non-small-cell lung cancer: analysis of an international contouring study.

    Science.gov (United States)

    Spoelstra, Femke O B; Senan, Suresh; Le Péchoux, Cecile; Ishikura, Satoshi; Casas, Francesc; Ball, David; Price, Allan; De Ruysscher, Dirk; van Sörnsen de Koste, John R

    2010-03-15

    Postoperative radiotherapy (PORT) in patients with completely resected non-small-cell lung cancer with mediastinal involvement is controversial because of the failure of earlier trials to demonstrate a survival benefit. Improved techniques may reduce toxicity, but the treatment fields used in routine practice have not been well studied. We studied routine target volumes used by international experts and evaluated the impact of a contouring protocol developed for a new prospective study, the Lung Adjuvant Radiotherapy Trial (Lung ART). Seventeen thoracic radiation oncologists were invited to contour their routine clinical target volumes (CTV) for 2 representative patients using a validated CD-ROM-based contouring program. Subsequently, the Lung ART study protocol was provided, and both cases were contoured again. Variations in target volumes and their dosimetric impact were analyzed. Routine CTVs were received for each case from 10 clinicians, whereas six provided both routine and protocol CTVs for each case. Routine CTVs varied up to threefold between clinicians, but use of the Lung ART protocol significantly decreased variations. Routine CTVs in a postlobectomy patient resulted in V(20) values ranging from 12.7% to 54.0%, and Lung ART protocol CTVs resulted in values of 20.6% to 29.2%. Similar results were seen for other toxicity parameters and in the postpneumectomy patient. With the exception of upper paratracheal nodes, protocol contouring improved coverage of the required nodal stations. Even among experts, significant interclinician variations are observed in PORT fields. Inasmuch as contouring variations can confound the interpretation of PORT results, mandatory quality assurance procedures have been incorporated into the current Lung ART study. Copyright 2010 Elsevier Inc. All rights reserved.

  17. Evaluation of the Synthoil process. Volume III. Unit block flow diagrams for a 100,000 barrel/stream day facility

    Energy Technology Data Exchange (ETDEWEB)

    Salmon, R.; Edwards, M.S.; Ulrich, W.C.

    1977-06-01

    This volume consists of individual block flowsheets for the various units of the Synthoil facility, showing the overall flows into and out of each unit. Material balances for the following units are incomplete because these are proprietary processes and the information was not provided by the respective vendors: Unit 24-Claus Sulfur Plant; Unit 25-Oxygen Plant; Unit 27-Sulfur Plant (Redox Type); and Unit 28-Sour Water Stripper and Ammonia Recovery Plant. The process information in this form was specifically requested by ERDA/FE for inclusion in the final report.

  18. United States trade in wood products, 1978?2005.

    Science.gov (United States)

    Jean M. Daniels

    2008-01-01

    Tables summarize volume and values of United States trade in wood products from 1978 to 2005. Import and export data are shown for 21 commodities aggregated from over 1,700 wood products. Data were obtained from an earlier report by Chmelik and others and the U.S. Department of Commerce, Bureau of the Census. Trade in each commodity is delineated by trading partner and...

  19. Evolution of international trade and investment networks

    Science.gov (United States)

    Zhang, Shuhong; Wang, Lin; Liu, Zhixin; Wang, Xiaofan

    2016-11-01

    In this paper, an evolving two-layer international economy network (IEN) consisting of international trade network (ITN) and international investment network (IIN) as layers, is constructed to investigate the world economy from 2001 to 2010. First, the structure analysis shows that the average partner numbers for both trade and investment are increasing year by year, and the average volume has a significant decrease in 2008 for investment and 2009 for trade. The IIN has longer average path length and dramatically lower edge density compared with the ITN, yet its clustering coefficient is larger in all years. Then, the regional relativity indicates that the longer the distance between two countries, the smaller trade and investment volumes they carry in are general, and the impact of the geographical distance gradually reduces as time goes on. Furthermore, the countries and regions are ranked by Pagerank in ITN, IIN and IEN to illustrate the roles they played. And finally, community structures are detected to visualize the global economic landscape, with countries and regions in the same community ranked according to the total volume of trade or investment.

  20. Economic aspects of virtual water trade

    Science.gov (United States)

    Oki, Taikan; Yano, Shinjiro; Hanasaki, Naota

    2017-04-01

    Although water is rarely traded over long distances by itself, the total weight of the water consumed to produce traded commodities exceeds the weight of any other commodity traded in the world. This concept is known as virtual water trade. Although space-/time-/commodity-based quantification has been conducted extensively, the underlying causes of this peculiar feature have thus far received little exploration. Here, we use estimates of water consumption from a global hydrological model and statistical data related to food trade to elucidate three facts that explain the fundamental nature of virtual water trade with respect to alleviating water scarcity. First, we quantitatively illustrate the unique position of water among commodities based on its unit price and quantity of sales. Water has an extremely low unit price, and a tremendous volume of water is consumed per person each day. Second, we show that rich but water-scarce countries tend to reduce local water consumption by importing virtual water. Third, we demonstrate that nations characterized by net virtual water exports have higher water resources and income per capita and that no countries fall below a certain threshold with respect to both GDP and water resources. These points suggest that the virtual water trade is explained by economic characteristics of water and that sustainable development depends on promoting the co-development of poverty alleviation and water resource development.

  1. Algorithmic Trading at Bucharest Stock Exchange

    Directory of Open Access Journals (Sweden)

    Adrian Victor SĂNDIŢĂ

    2015-09-01

    Full Text Available Very conservative estimates indicate that over 40% of transactions on the stock exchanges in the United States are based on automatically generated orders. Such systems are designed to do algorithmic trading on the basis of a predefined set of rules that determine the composition of the portfolio and the moment in which the purchases and sales of securities are done. Applying highly diverse trading strategies, algorithmic trading systems ultimately aim to maximize profit and minimize risk taking. Algorithmic trading on the Bucharest Stock Exchange is still in its incipient phase. Now, automated trading systems are used only for participants who act as Market Makers for the actions of a few issuers. Estimates indicate a volume of algorithmic trading on the Bucharest Stock Exchange of under 1% of its total transactions. This paper aims to describe a general way that algorithmic trading systems can be connected to the Bucharest Stock Exchange and to present some of our results in the implementation of such a system.

  2. Modeling climate change impacts on water trading.

    Science.gov (United States)

    Luo, Bin; Maqsood, Imran; Gong, Yazhen

    2010-04-01

    This paper presents a new method of evaluating the impacts of climate change on the long-term performance of water trading programs, through designing an indicator to measure the mean of periodic water volume that can be released by trading through a water-use system. The indicator is computed with a stochastic optimization model which can reflect the random uncertainty of water availability. The developed method was demonstrated in the Swift Current Creek watershed of Prairie Canada under two future scenarios simulated by a Canadian Regional Climate Model, in which total water availabilities under future scenarios were estimated using a monthly water balance model. Frequency analysis was performed to obtain the best probability distributions for both observed and simulated water quantity data. Results from the case study indicate that the performance of a trading system is highly scenario-dependent in future climate, with trading effectiveness highly optimistic or undesirable under different future scenarios. Trading effectiveness also largely depends on trading costs, with high costs resulting in failure of the trading program.

  3. Some economic historic perspectives on the 2009 world trade collapse

    NARCIS (Netherlands)

    P.A.G. van Bergeijk (Peter)

    2009-01-01

    textabstractThe paper puts the collapse of the world trade volume in 2009 into two historic perspectives. First, the paper analyses 18 major post-1980 / pre-2007 financial crises and uses these observations as a basis to critically evaluate presently available projections for world trade. Second, th

  4. Some economic historic perspectives on the 2009 world trade collapse

    NARCIS (Netherlands)

    P.A.G. van Bergeijk (Peter)

    2009-01-01

    textabstractThe paper puts the collapse of the world trade volume in 2009 into two historic perspectives. First, the paper analyses 18 major post-1980/pre-2007 financial crises and uses these observations as a basis to critically evaluate presently available projections for world trade. Second, the

  5. 121 | Page WORLD TRADE ORGANISATION (WTO): TRADE ...

    African Journals Online (AJOL)

    Fr. Ikenga

    inequalities that existed between the rich and the poor countries, which impacted ..... dealt with the issue of whether Europe violated the requirement of non ..... International Trade Regime (2005), 20 Berkeley J, Gender L & Just.75, p.126.

  6. New Concepts in Fish Ladder Design, Volume III of IV, Assessment of Fishway Development and Design, 1982-1983 Final Report.

    Energy Technology Data Exchange (ETDEWEB)

    Powers, Patrick D.; Orsborn, John F.

    1985-08-01

    This volume covers the broad, though relatively short, historical basis for this project. The historical developments of certain design features, criteria and research activities are traced. Current design practices are summarized based on the results of an international survey and interviews with agency personnel and consultants. The fluid mechanics and hydraulics of fishway systems are discussed. Fishways (or fishpasses) can be classified in two ways: (1) on the basis of the method of water control (chutes, steps (ladders), or slots); and (2) on the basis of the degree and type of water control. This degree of control ranges from a natural waterfall to a totally artificial environment at a hatchery. Systematic procedures for analyzing fishways based on their configuration, species, and hydraulics are presented. Discussions of fish capabilities, energy expenditure, attraction flow, stress and other factors are included.

  7. Applied research on energy storage and conversion for photovoltaic and wind energy systems. Volume III. Wind conversion systems with energy storage. Final report

    Energy Technology Data Exchange (ETDEWEB)

    1978-01-01

    The variability of energy output inherent in wind energy conversion systems (WECS) has led to the investigation of energy storage as a means of managing the available energy when immediate, direct use is not possible or desirable. This portion of the General Electric study was directed at an evaluation of those energy storage technologies deemed best suited for use in conjunction with a wind energy conversion system in utility, residential and intermediate applications. Break-even cost goals are developed for several storage technologies in each application. These break-even costs are then compared with cost projections presented in Volume I of this report to show technologies and time frames of potential economic viability. The report summarizes the investigations performed and presents the results, conclusions and recommendations pertaining to use of energy storage with wind energy conversion systems.

  8. Sweet Lake geopressured-geothermal project, Magma Gulf-Technadril/DOE Amoco fee. Volume III. Final report. Annual report, February 1982-March 1985

    Energy Technology Data Exchange (ETDEWEB)

    Durham, C.O. Jr.; O' Brien, F.D.; Rodgers, R.W. (eds.)

    1985-01-01

    This report presents the results of the testing of Sand 3 (15,245 to 15,280 feet in depth) which occurred from November 1983 to March 1984 and evaluates these new data in comparison to results from the testing of Sand 5 (15,385 to 15,415 feet in depth) which occurred from June 1981 to February 1982. It also describes the reworking of the production and salt water disposal wells preparatory to the Sand 3 testing as well as the plug and abandon procedures requested to terminate the project. The volume contains two parts: Part 1 includes the text and accompanying plates, figures and tables; Part 2 consists of the appendixes including auxiliary reports and tabulations.

  9. Trade Facilitation Indicators and their Potential Impact on Trade Between the Countries of South-Eastern Europe

    Directory of Open Access Journals (Sweden)

    Toševska-Trpčevska Katerina

    2016-11-01

    Full Text Available In this paper we base our analysis on previous OECD findings and analysis of trade facilitation indicators for assessing relative economic and trade impact of specific trade facilitation measures for the countries of South-Eastern Europe. In the analysis we plan to include all CEFTA-2006 members, except Moldova, and other countries which are part of this region: Bulgaria, Romania and Greece. We plan to construct twelve trade facilitation indicators (TFIs that correspond to the main policy areas under negotiations at the WTO. The indicators are composed from seventy-eight variables, whose values are drawn from publicly available data. We plan to use these indicators in gravity model in order to estimate the impact of those policy areas on trade volumes between the countries of the region. The use of individual trade facilitation indicators should also enable countries to better assess which trade facilitation measures deserve priority.

  10. Trading strategies in the overnight money market: Correlations and clustering on the e-MID trading platform

    Science.gov (United States)

    Fricke, Daniel

    2012-12-01

    We analyze the correlations in patterns of trading for members of the Italian interbank trading platform e-MID. The trading strategy of a particular member institution is defined as the sequence of (intra-) daily net trading volumes within a certain semester. Based on this definition, we show that there are significant and persistent bilateral correlations between institutions’ trading strategies. In most semesters we find two clusters, with positively (negatively) correlated trading strategies within (between) clusters. We show that the two clusters mostly contain continuous net buyers and net sellers of money, respectively, and that cluster memberships of individual banks are highly persistent. Additionally, we highlight some problems related to our definition of trading strategies. Our findings add further evidence on the fact that preferential lending relationships on the micro-level lead to community structure on the macro-level.

  11. Natural Computing in Computational Finance Volume 4

    CERN Document Server

    O’Neill, Michael; Maringer, Dietmar

    2012-01-01

    This book follows on from Natural Computing in Computational Finance  Volumes I, II and III.   As in the previous volumes of this series, the  book consists of a series of  chapters each of  which was selected following a rigorous, peer-reviewed, selection process.  The chapters illustrate the application of a range of cutting-edge natural  computing and agent-based methodologies in computational finance and economics.  The applications explored include  option model calibration, financial trend reversal detection, enhanced indexation, algorithmic trading,  corporate payout determination and agent-based modeling of liquidity costs, and trade strategy adaptation.  While describing cutting edge applications, the chapters are  written so that they are accessible to a wide audience. Hence, they should be of interest  to academics, students and practitioners in the fields of computational finance and  economics.  

  12. Developing Successful Proposals in Women's Educational Equity, Volume I: The Guide = Desarrollo de propuestas exitosas relacionadas con la equidad educativa de la mujer, volumen I: La guia. Volume II: The Supplement. Volume III: The Swipe File. Volume IV: Workshop Training Manual.

    Science.gov (United States)

    Matthews, Walter R.; And Others

    Four volumes present materials and a training workshop on proposal writing. The materials aim to give people the skills and resources with which to translate their ideas into fully developed grant proposals for projects related to educational equity for women. However, the information is applicable to most other funding procedures. The first…

  13. A Unifying Mathematical Framework for Genetic Robustness, Environmental Robustness, Network Robustness and their Trade-offs on Phenotype Robustness in Biological Networks. Part III: Synthetic Gene Networks in Synthetic Biology

    Science.gov (United States)

    Chen, Bor-Sen; Lin, Ying-Po

    2013-01-01

    Robust stabilization and environmental disturbance attenuation are ubiquitous systematic properties that are observed in biological systems at many different levels. The underlying principles for robust stabilization and environmental disturbance attenuation are universal to both complex biological systems and sophisticated engineering systems. In many biological networks, network robustness should be large enough to confer: intrinsic robustness for tolerating intrinsic parameter fluctuations; genetic robustness for buffering genetic variations; and environmental robustness for resisting environmental disturbances. Network robustness is needed so phenotype stability of biological network can be maintained, guaranteeing phenotype robustness. Synthetic biology is foreseen to have important applications in biotechnology and medicine; it is expected to contribute significantly to a better understanding of functioning of complex biological systems. This paper presents a unifying mathematical framework for investigating the principles of both robust stabilization and environmental disturbance attenuation for synthetic gene networks in synthetic biology. Further, from the unifying mathematical framework, we found that the phenotype robustness criterion for synthetic gene networks is the following: if intrinsic robustness + genetic robustness + environmental robustness ≦ network robustness, then the phenotype robustness can be maintained in spite of intrinsic parameter fluctuations, genetic variations, and environmental disturbances. Therefore, the trade-offs between intrinsic robustness, genetic robustness, environmental robustness, and network robustness in synthetic biology can also be investigated through corresponding phenotype robustness criteria from the systematic point of view. Finally, a robust synthetic design that involves network evolution algorithms with desired behavior under intrinsic parameter fluctuations, genetic variations, and environmental

  14. REVIEW OF THE NEGOTIATION OF THE MODEL PROTOCOL ADDITIONAL TO THE AGREEMENT(S) BETWEEN STATE(S) AND THE INTERNATIONAL ATOMIC ENERGY AGENCY FOR THE APPLICATION OF SAFEGUARDS, INFCIRC/540 (Corrected) VOLUME III/III, IAEA COMMITTEE 24, DEVELOPMENT OF INFCIRC/540, ARTICLE-BY-ARTICLE REVIEW (1996-1997).

    Energy Technology Data Exchange (ETDEWEB)

    Rosenthal, M.D.; Houck, F.

    2010-01-01

    In this section of the report, the development of INFCIRC/540 is traced by a compilation of citations from the IAEA documents presented to the Board of Governors and the records of discussions in the Board that took place prior to the establishment of Committee 24 as well as the documents and discussions of that committee. The evolution of the text is presented separately for each article or, for the more complex articles, for each paragraph or group of paragraphs of the article. This section covers all articles, including those involving no issues. Background, issues, interpretations and conclusions, which were addressed in Volumes I, II, and III are not repeated here. The comments by states that are included are generally limited to objections and suggested changes. Requests for clarification or elaboration have been omitted, although it is recognized that such comments were sometimes veiled objections.

  15. High-Volume Transanal Surgery with CPH34 HV for the Treatment of III-IV Degree Haemorrhoids: Final Short-Term Results of an Italian Multicenter Clinical Study

    Directory of Open Access Journals (Sweden)

    Giuliano Reboa

    2016-01-01

    Full Text Available The clinical chart of 621 patients with III-IV haemorrhoids undergoing Stapled Hemorrhoidopexy (SH with CPH34 HV in 2012–2014 was consecutively reviewed to assess its safety and efficacy after at least 12 months of follow-up. Mean volume of prolapsectomy was significantly higher (13.0 mL; SD, 1.4 in larger prolapse (9.3 mL; SD, 1.2 (p<0.001. Residual or recurrent haemorrhoids occurred in 11 of 621 patients (1.8% and in 12 of 581 patients (1.9%, respectively. Relapse was correlated with higher preoperative Constipation Scoring System (CSS (p=0.000, Pescatori’s degree (p=0.000, Goligher’s grade (p=0.003, prolapse exceeding half of the length of the Circular Anal Dilator (CAD (p=0.000, and higher volume of prolapsectomy (p=0.000. At regression analysis, only the preoperative CSS, Pescatori’s degree, Goligher’s grade, and volume of resection were significantly predictive of relapse. A high level of satisfaction (VAS = 8.6; SD, 1.0 coupled with a reduction of 12-month CSS (Δ preoperative CSS/12 mo CSS = 3.4, SD, 2.0; p<0.001 was observed. The wider prolapsectomy achievable with CPH34 HV determined an overall 3.7% relapse rate in patients with high prevalence of large internal rectal prolapse, coupled with high satisfaction index, significant reduction of CSS, and very low complication rates.

  16. Can bilateral trade agreements help induce free trade?

    OpenAIRE

    Riezman, Raymond Glenn

    1999-01-01

    There has been growing debate about whether bilateral trade agreements are damaging multilateral efforts to eliminate barriers to international trade. This paper develops a model in which trading blocks always charge optimal tariffs and make trade agreements based on strategic considerations. We ask a very simple question. Does the fact that trading blocks can form bilateral trade agreements make Free trade less likely to occur? The answer is that it depends on the size distribution of the tr...

  17. US-Canada Free-Trade Agreement

    Energy Technology Data Exchange (ETDEWEB)

    1988-02-01

    The US-Canada Free Trade Agreement is an historic agreement that will yield major benefits for the US and Canadian economies, for US-Canadian bilateral trade relations, and for the international trade regime. The energy section of the Agreement is one of its most important. Energy trade between the US and Canada amounts to over $10 billion per year, the largest such bilateral trade in the world. Canada is our largest oil supplier and provides virtually all of our natural gas and electricity imports. While these volumes are a small fraction of US needs, they provide an important margin of energy security. Canada also is an important market for US energy exports, buying 16 million tons or $700 million worth of coal in 1987, 20% of US coal exports. The Free Trade Agreement ensures that the US and Canada can continued to enjoy unrestricted trade in energy, provides benefits to US consumers and producers, and enhances our energy security. The Agreement: prohibits future restrictions on energy trade, such as quantitative restriction, import or export taxes, and minimum prices; ensures that US consumers will be treated equitably with Canadian consumers; provides added assurance of supply in the event of disruptions; will lower costs to consumers, including our energy intensive industries, and help make US industry more competitive in world markets; will provide more certainty to producers and consumers, which should expand energy trade and be more conducive to energy investment; and will, over time, reduce US oil imports by encouraging continued market penetration of Canadian and US natural gas, and greater use of Canadian hydroelectric power.

  18. Evolution of the global virtual water trade network.

    Science.gov (United States)

    Dalin, Carole; Konar, Megan; Hanasaki, Naota; Rinaldo, Andrea; Rodriguez-Iturbe, Ignacio

    2012-04-17

    Global freshwater resources are under increasing pressure from economic development, population growth, and climate change. The international trade of water-intensive products (e.g., agricultural commodities) or virtual water trade has been suggested as a way to save water globally. We focus on the virtual water trade network associated with international food trade built with annual trade data and annual modeled virtual water content. The evolution of this network from 1986 to 2007 is analyzed and linked to trade policies, socioeconomic circumstances, and agricultural efficiency. We find that the number of trade connections and the volume of water associated with global food trade more than doubled in 22 years. Despite this growth, constant organizational features were observed in the network. However, both regional and national virtual water trade patterns significantly changed. Indeed, Asia increased its virtual water imports by more than 170%, switching from North America to South America as its main partner, whereas North America oriented to a growing intraregional trade. A dramatic rise in China's virtual water imports is associated with its increased soy imports after a domestic policy shift in 2000. Significantly, this shift has led the global soy market to save water on a global scale, but it also relies on expanding soy production in Brazil, which contributes to deforestation in the Amazon. We find that the international food trade has led to enhanced savings in global water resources over time, indicating its growing efficiency in terms of global water use.

  19. 上市企业社交媒体信息发布内容与其股票交易量的关系研究%Relationship Between the Content of Listed Enterprises' Information Released on Social Media and Stock Trading Volume

    Institute of Scientific and Technical Information of China (English)

    张栋凯; 齐佳音

    2015-01-01

    Semantic analysis is conducted about the information released on Twitter from the 142 enterprises lis-ted in S&P 500 enterprises.The information is categorized as enterprises' image enhancing information and non-image enhancing information, and the relationship between these two types of information and stock trading vol-ume is empirically studied, and the interactive effects of the information are tested.It is found that, the image enhancing information can effectively improve the perceived value of investors and reduce the degree of informa-tion asymmetry, and has the significantly positive correlation with the stock trading volume.Meanwhile, most non-image enhancing information is neutral, which distracts investors from dealing with the image enhancing in-formation and intensifies the degree of information asymmetry; and have the negative correlation with the stock trading volume.The non-image enhancing information weakens the positive correlation between the image enhan-cing information and the stock trading volume.This study provides a new way to explore the business value of en-terprises' social media.%对142家标普500成分企业在Twitter上发布的信息进行语义分析, 将其分为企业形象提升类信息与非形象提升类信息, 实证分析了两类信息与企业股票交易量之间的相关关系, 并检验了两类信息之间的交互作用, 研究发现: 企业形象提升类信息有效地提高了投资者的感知价值, 降低了信息不对称程度, 与股票交易量之间呈显著的正相关关系; 非企业形象提升类信息多为中立信息, 过多地占用了投资者处理企业形象提升类信息的注意力资源, 不利于降低信息不对称程度, 显著地削弱了企业形象提升类信息与股票交易量之间的正相关关系, 并且与股票交易量之间呈显著的负相关关系.

  20. The Ningxia Trade Link

    Institute of Scientific and Technical Information of China (English)

    LI YUZHU; LIU YUNYUN

    2010-01-01

    @@ Trade deals were plentiful at the first China-Arab States Economic and Trade Forum last month,with over190 deals on investment cooperation totaling 203.56 billion yuan($30.52 billion)signed between China and Arab states and Muslim regions.The forum,held from September 26 to 30 in Yinchuan,capital of Ningxia Hui Autonomous Region,aimed to enhance investment and trade ties between China and Arab states.

  1. Trade Promotion from Neighborhood

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    @@ "If you are considering to trade with companies in Japan or expanding your business to Japan,we are ready to help from the very beginning."You will find this greeting at the first sight on the Chinese website of Japan External Trade Organization(JETRO).JETRO has committed itself in delivering highly efficient and quality services to meet the demand of internal and external customs including Japanese companies,hence winning a good reputation in the international trade arena.

  2. China's Foreign Trade Strategy

    Institute of Scientific and Technical Information of China (English)

    Li Zuoyan

    2008-01-01

    @@ Profile of route map In 1949,right after the establishment of the People's Republic of China (PRC),overall economic blockage and embargo imposed by other countries,except the Soviet Union and eastern European countries,separated China from the global economic and trade community.In such a context,China Council for the Promotion of International Trade (CCPIT) was born in May 1952 to facilitate non-governmental trade with other countries,Japan in particular.

  3. Statistical mechanics of the international trade network

    CERN Document Server

    Fronczak, Agata

    2011-01-01

    Analyzing real data on international trade covering the time interval 1950-2000, we show that in each year over the analyzed period the network is a typical representative of the ensemble of maximally random weighted networks, whose directed connections (bilateral trade volumes) are only characterized by the product of the trading countries' GDPs. It means that time evolution of this network may be considered as a continuous sequence of equilibrium states, i.e. quasi-static process. This, in turn, allows one to apply the linear response theory to make (and also verify) simple predictions about the network. In particular, we show that bilateral trade fulfills fluctuation-response theorem, which states that the average relative change in import (export) between two countries is a sum of relative changes in their GDPs. Yearly changes in trade volumes prove that the theorem is valid. Supported by the well-known qualitative findings about economic crises, we argue that the theorem provides valuable quantitative in...

  4. Trade in health services.

    Science.gov (United States)

    Chanda, Rupa

    2002-01-01

    In light of the increasing globalization of the health sector, this article examines ways in which health services can be traded, using the mode-wise characterization of trade defined in the General Agreement on Trade in Services. The trade modes include cross- border delivery of health services via physical and electronic means, and cross-border movement of consumers, professionals, and capital. An examination of the positive and negative implications of trade in health services for equity, efficiency, quality, and access to health care indicates that health services trade has brought mixed benefits and that there is a clear role for policy measures to mitigate the adverse consequences and facilitate the gains. Some policy measures and priority areas for action are outlined, including steps to address the "brain drain"; increasing investment in the health sector and prioritizing this investment better; and promoting linkages between private and public health care services to ensure equity. Data collection, measures, and studies on health services trade all need to be improved, to assess better the magnitude and potential implications of this trade. In this context, the potential costs and benefits of trade in health services are shaped by the underlying structural conditions and existing regulatory, policy, and infrastructure in the health sector. Thus, appropriate policies and safeguard measures are required to take advantage of globalization in health services.

  5. International emissions trading

    DEFF Research Database (Denmark)

    Boom, Jan Tjeerd

    This thesis discusses the design and political acceptability of international emissions trading. It is shown that there are several designs options for emissions trading at the national level that have a different impact on output and thereby related factors such as employment and consumer prices....... The differences in impact of the design make that governments may prefer different designs of emissions trading in different situations. The thesis furthermore establishes that international emissions trading may lead to higher overall emissions, which may make it a less attractive instrument....

  6. INDONESIAN TRADE UNDER CHINA FREE TRADE AREA

    Directory of Open Access Journals (Sweden)

    Tavi Supriana

    2011-09-01

    Full Text Available This paper investigates the implementation of CAFTA (China-Asean Free Trade Area on the international trade flows across Indonesia, China and the rest of ASEAN using a gravitation model. It finds the evidence that the influence of diversion and creation effects on China are significant, while the influence of both effects on Indonesia are not significant. It also finds that the diversion effect, which leads to a decrease in society’s wealth, is greater than that of the creation effect. As a consequence, the gap across countries involved in the trade agreement is wider. Keywords: CAFTA, gravitation model, diversion effect, creation effectJEL classification numbers: F13, F14, F15

  7. South China Sea Territorial Disputes and Sino-Philippine Trade

    Institute of Scientific and Technical Information of China (English)

    FANG; WANG

    2015-01-01

    As political factors affect trade activities greatly, this paper considers whether a series of political events have had a negative impact on Sino-Philippine trade relations. Of particular concern is the influence on bilateral relations and the Philippines’ domestic economy from political and diplomatic tensions between China and the Philippines caused by territorial disputes in the South China Sea. Political events are divided into two levels, general conflicts and serious conflicts, which are analyzed from the perspectives of both overall level and product level to present their final impact on trade. This research finds that territorial disputes between the two countries deteriorated trade, as the volume of trade usually decreased distinctly after conflicts. The negative impact on trade generated by serious conflicts usually occurred more rapidly and on a larger scale. The effect of trade deterioration caused by political events weakened over time. Furthermore, after serious conflicts, although the volume of trade of certain products decreased temporarily, it rebounded quickly or even increased soon. However, industrial equipment or industrial raw materials trade activities between the two countries were basically independent of the conflicts’ impact.

  8. Biological trade and markets.

    Science.gov (United States)

    Hammerstein, Peter; Noë, Ronald

    2016-02-01

    Cooperation between organisms can often be understood, like trade between merchants, as a mutually beneficial exchange of services, resources or other 'commodities'. Mutual benefits alone, however, are not sufficient to explain the evolution of trade-based cooperation. First, organisms may reject a particular trade if another partner offers a better deal. Second, while human trade often entails binding contracts, non-human trade requires unwritten 'terms of contract' that 'self-stabilize' trade and prevent cheating even if all traders strive to maximize fitness. Whenever trading partners can be chosen, market-like situations arise in nature that biologists studying cooperation need to account for. The mere possibility of exerting partner choice stabilizes many forms of otherwise cheatable trade, induces competition, facilitates the evolution of specialization and often leads to intricate forms of cooperation. We discuss selected examples to illustrate these general points and review basic conceptual approaches that are important in the theory of biological trade and markets. Comparing these approaches with theory in economics, it turns out that conventional models-often called 'Walrasian' markets-are of limited relevance to biology. In contrast, early approaches to trade and markets, as found in the works of Ricardo and Cournot, contain elements of thought that have inspired useful models in biology. For example, the concept of comparative advantage has biological applications in trade, signalling and ecological competition. We also see convergence between post-Walrasian economics and biological markets. For example, both economists and biologists are studying 'principal-agent' problems with principals offering jobs to agents without being sure that the agents will do a proper job. Finally, we show that mating markets have many peculiarities not shared with conventional economic markets. Ideas from economics are useful for biologists studying cooperation but need

  9. Trade Policy Reform and the Missing Revenue

    DEFF Research Database (Denmark)

    Arndt, Thomas Channing; Tarp, Finn

    2008-01-01

    into a computable general equilibrium model of an African economy (Mozambique) to study the implications of trade policy reform. Model simulations indicate that lowering tariff rates and reducing duty-free importation in a manner that maintains official revenue benefit nearly everyone. The main exception is those......In many African countries, large discrepancies exist between revenues implied by published tariff rates multiplied by estimated import volumes and actual receipts. We develop a stylised trade model where average and marginal tariff rates diverge and incorporate insights from this model...... who benefited from duty-free imports in the base...

  10. How Fair is Fair Trade?

    NARCIS (Netherlands)

    Vaal, A. de; Maseland, R.K.J.

    2001-01-01

    This paper investigates to what extent fair trade programmes, are indeed fair . This is accomplished by comparing fair trade with free trade and protectionist trade regimes on their compliance of the criteria set by the fair trade movement itself. This comparison is made using comparative cost base

  11. How fair is fair trade?

    NARCIS (Netherlands)

    Maseland, Robbert; Vaal, Albert de

    2001-01-01

    This paper investigates to what extent fair trade programmes, are indeed ‘fair’. This is accomplished by comparing fair trade with free trade and protectionist trade regimes on their compliance of the criteria set by the fair trade movement itself. This comparison is made using comparative cost base

  12. How Fair is Fair Trade?

    NARCIS (Netherlands)

    Maseland, R.K.J.; Vaal, A. de

    2002-01-01

    This paper investigates to what extent fair trade programmes, are indeed ‘fair.’ This is accomplished by comparing fair trade with free trade and protectionist trade regimes on their compliance of the criteria set by the fair trade movement itself. This comparison is made using comparative cost base

  13. How fair is fair trade?

    NARCIS (Netherlands)

    Maseland, Robbert; Vaal, Albert de

    2001-01-01

    This paper investigates to what extent fair trade programmes, are indeed ‘fair’. This is accomplished by comparing fair trade with free trade and protectionist trade regimes on their compliance of the criteria set by the fair trade movement itself. This comparison is made using comparative cost

  14. How Fair is Fair Trade?

    NARCIS (Netherlands)

    Vaal, A. de; Maseland, R.K.J.

    2001-01-01

    This paper investigates to what extent fair trade programmes, are indeed fair . This is accomplished by comparing fair trade with free trade and protectionist trade regimes on their compliance of the criteria set by the fair trade movement itself. This comparison is made using comparative cost base

  15. How Fair is Fair Trade?

    NARCIS (Netherlands)

    Maseland, R.K.J.; Vaal, A. de

    2002-01-01

    This paper investigates to what extent fair trade programmes, are indeed ‘fair.’ This is accomplished by comparing fair trade with free trade and protectionist trade regimes on their compliance of the criteria set by the fair trade movement itself. This comparison is made using comparative cost base

  16. How fair is fair trade?

    NARCIS (Netherlands)

    Maseland, Robbert; Vaal, Albert de

    2001-01-01

    This paper investigates to what extent fair trade programmes, are indeed ‘fair’. This is accomplished by comparing fair trade with free trade and protectionist trade regimes on their compliance of the criteria set by the fair trade movement itself. This comparison is made using comparative cost base

  17. On-Demand Based Wireless Resources Trading for Green Communications

    CERN Document Server

    Cheng, Wenchi; Zhang, Hailin; Wang, Qiang

    2011-01-01

    The purpose of Green Communications is to reduce the energy consumption of the communication system as much as possible without compromising the quality of service (QoS) for users. An effective approach for Green Wireless Communications is On-Demand strategy, which scales power consumption with the volume and location of user demand. Applying the On-Demand Communications model, we propose a novel scheme -- Wireless Resource Trading, which characterizes the trading relationship among different wireless resources for a given number of performance metrics. According to wireless resource trading relationship, different wireless resources can be consumed for the same set of performance metrics. Therefore, to minimize the energy consumption for given performance metrics, we can trade the other type of wireless resources for the energy resource under the demanded performance metrics. Based on the wireless resource trading relationship, we derive the optimal energy-bandwidth and energy-time wireless resource trading ...

  18. World Trade Organisation (WTO): Trade rules/agreements and ...

    African Journals Online (AJOL)

    World Trade Organisation (WTO): Trade rules/agreements and developing countries. ... The GATT (General Agreement on Trade and Tariffs) rules of 1947 were seen as prejudicial to the ... EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT

  19. 40 Dynamics of Foreign Trade and Trade Relation Problems: Policy ...

    African Journals Online (AJOL)

    FIRST LADY

    2011-01-18

    Jan 18, 2011 ... countries like Brazil, Russia, India and China (BRIC nations) have emerged as trade .... International Trade and Trade Relations: The Unending Issues ..... that the present media campaign of Nigerians/Nigeria as good.

  20. Free Trade: A Misnomer?

    Science.gov (United States)

    McMillan, Robert R.

    1983-01-01

    Billions of dollars are lost each year in our balance of payments because U.S. multinationals have not entered foreign markets due to trade restrictions and restrictions on the remittance of profits and royalties. Formal and informal government obstructions to free trade are examined. (RM)

  1. Trade and Development

    DEFF Research Database (Denmark)

    Abbott, Philip; Bentzen, Jeanet; Tarp, Finn

    2009-01-01

    History, not predictions of CGE models or cross-country growth studies, shows a strong relationship between trade and development. Vietnam's experience with bilateral trade agreements, comparing actual outcomes with predictions from existing models, demonstrates this and the limitations of research...

  2. Trade and Development

    DEFF Research Database (Denmark)

    Abbott, Philip; Bentzen, Jeanet Sinding; Tarp, Finn

    2009-01-01

    History, not predictions of CGE models or cross-country growth studies, shows a strong relationship between trade and development. Vietnam’s experience with bilateral trade agreements, comparing actual outcomes with predictions from existing models, demonstrates this and the limitations of research...

  3. A Trade Off

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    China’s growing trade surplus has become a major concern for some of its major trade partners, such as the United States and the European Union. As the latest statistics from China’s Customs Administration suggest, while the country’s export growth rate fell 1.2 percentage points and that of imports rose 2.4

  4. Bilateralism and free trade

    NARCIS (Netherlands)

    S. Goyal (Sanjeev); S. Joshi

    1999-01-01

    textabstractIn recent years, there has been a great deal of research on the relative merits of multilateralism and bilateralism and their implications for the nature of the trading regime between countries. In this paper we explore the scope of bilateral free-trade agreements as a foundation for

  5. Informed Option Trading Strategies

    NARCIS (Netherlands)

    C.M. de Jong (Cyriel)

    2001-01-01

    textabstractWe use a sequential trade model to clarify two mechanisms following the introduction of an option that may lead to increased efficiency in the underlying. On the one hand, market makers learn from trades in the option market and set more accurate prices. On the other hand, the proportion

  6. Introduction to International Trade.

    Science.gov (United States)

    Intercom, 1986

    1986-01-01

    Focusing mainly on United States-Japan relations, this issue provides 11 lesson plans and student handouts dealing with international trade topics such as protective tariffs, currency exchange rates, unofficial trade barriers, causes of unemployment, the balance of payments and the internationalization of the automobile industry. (JDH)

  7. A Trade Off?

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    China’s trade surplus amounted to $177.5 billion last year, an increase of $75.5 billion or a massive 74 percent over 2005. Trade officials said it is still within a normal range and its upward trend is due to the country’s industrial and macroeconomic s

  8. Banking and trading

    NARCIS (Netherlands)

    Boot, A.W.A.; Ratnovski, L.

    2013-01-01

    We study the interaction between relationship banking and short-term, scalable arm’s length finance which we call trading. Relationship banking is not scalable, has high franchise value, is long-term oriented and low risk. Trading is transaction-based: scalable, with lower margins (capital constrain

  9. Banking and trading

    NARCIS (Netherlands)

    Boot, A.W.A.; Ratnovski, L.

    2013-01-01

    We study the interaction between relationship banking and short-term, scalable arm’s length finance which we call trading. Relationship banking is not scalable, has high franchise value, is long-term oriented and low risk. Trading is transaction-based: scalable, with lower margins (capital

  10. International trade. Multinational aspects.

    Science.gov (United States)

    Ozawa, Y

    2000-01-01

    Of numerous regional economic agreements, the European Union (EU), the North American Free Trade Agreement (NAFTA), South American Common Market (MERCOSUR), the Association of Southeast Asian Nations (ASEAN), the South Asian Association for Regional Cooperation (SAARC) and the Australia-New Zealand Closer Economic Relations Agreement are examples that are actively pursuing regional integration for freer trade of animals and animal products. The World Trade Organization (WTO) believes that regional and multinational integration initiatives are complements rather than alternatives in the pursuit of more open trade. In the efforts to harmonize SPS standards among multilateral trading nations, it is recommended that national requirements meet the standards developed by the OIE and the FAO/WHO Codex Alimentarius Commission as the minimum requirements rather than adopting the standards of the lowest common denominator. Regional grouping may hinder multilateral or bilateral trade between the countries of a group and those of the other groups. How to eliminate such non-tariff barriers as traditional trade custom remains to be examined. Ongoing activities of VICH (Harmonisation of Technical Requirements for Registration of Veterinary Medical Products) may pave the way for more open trade in pharmaceutical products between multilateral regional groups.

  11. Master of Many Trades

    Institute of Scientific and Technical Information of China (English)

    ZHANGHUA

    2004-01-01

    "My major is business administration. I have also worked in finance andinternational trade and have had my own fashion boutique and restaurant. Iseem born toit from one industry to another," says Fan Jinghui, director of Sino-Canadian Council for the Promotion of International Trade.

  12. Trade Back on Track

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    China’s foreign trade gains momentum but still face suncertainties China is taking up a larger piece’of the global trade pie as its 2009 I exports accounted for almost one’10th of the world total that year. The Ministry of Commerce(MOFCOM)

  13. Individual Attitudes Towards Trade

    DEFF Research Database (Denmark)

    Jäkel, Ina Charlotte; Smolka, Marcel

    2013-01-01

    Using the 2007 wave of the Pew Global Attitudes Project, this paper finds statistically significant and economically large Stolper-Samuelson effects in individuals’ preference formation towards trade policy. High-skilled individuals are substantially more pro-trade than low-skilled individuals...

  14. Nitrogen Trading Tool (NTT)

    Science.gov (United States)

    The Natural Resources Conservation Service (NRCS) recently developed a prototype web-based nitrogen trading tool to facilitate water quality credit trading. The development team has worked closely with the Agriculture Research Service Soil Plant Nutrient Research Unit (ARS-SPNR) and the Environmenta...

  15. 78 FR 5778 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-01-28

    ... 325.2(l) of the Regulations (15 CFR 325.2(l)): 3M Company (St. Paul, MN); Aireon LLC (McLean, VA... INFORMATION: Title III of the Export Trading Company Act of 1982 (15 U.S.C. 4001-21) authorizes the Secretary... Trading Company Act of 1982 and 15 CFR 325.6(a) require the Secretary to publish a notice in the Federal...

  16. Unsustainable colletion and unfair trade?

    DEFF Research Database (Denmark)

    Larsen, Helle Overgaard; Olsen, Carsten Smith

    2007-01-01

    . The commercial medicinal plant resource base is becoming ever more degraded as a consequence of collection; II. The medicinal plants are an open-access resource; III. Cultivation can contribute to conservation of commercially collected medicinal plant species; and IV. Medicinal plant harvesters are cheated...... and conservation. This has resulted in a large number of publications and development activities, ranging from small NGO projects to new government policies. Through a review of 119 references from Nepal, 4 common assumptions regarding the medicinal plant collection and trade have been identified: I...... in the online version of this article at http://www.dx.doi.org/10.1007/s10531-006-9039-4 and is accessible for authorized users....

  17. The trade effects of endogenous preferential trade agreements

    OpenAIRE

    Egger, Peter; Larch, Mario; Staub, Kevin E; Winkelmann, Rainer

    2010-01-01

    Recent work by Anderson and van Wincoop (2003) establishes an empirical modelling strategy which takes full account of the structural, non-(log-)linear impact of trade barriers on trade in new trade theory models. Structural new trade theory models have never been used to evaluate and quantify the role of endogenous preferential trade agreement (PTA) membership for trade in a way which is consistent with general equilibrium. Apart from this gap, the present paper aims at delivering an empiric...

  18. Uranium and free trade

    Energy Technology Data Exchange (ETDEWEB)

    1988-08-01

    This report was prepared by a working group of the Committee on International Trade in Uranium of the Uranium Institute. The report describes the general benefits of free trade and their relevance in the uranium market, and compares government restrictions on Western world uranium trade with those in other commodity markets. It is not directly concerned with restrictions designed to discourage nuclear weapons proliferation. The Uranium Institute and its members fully support the objective of nuclear non-proliferation. The report takes as given the current non-proliferation regime and focuses on economic and commercial restrictions imposed by governments on international trade in uranium, recognising that governments will always have a special interest in uranium trade owing to its potential weapons use. (author).

  19. Online stock trading platform

    Directory of Open Access Journals (Sweden)

    Ion LUNGU

    2006-01-01

    Full Text Available The Internet is the perfect tool that can assure the market’s transparency for any user who wants to trade on the stock market. The investor can have access to the market news, financial calendar or the press releases of the issuers. A good online trading platform also provides real-time intraday quotes, trading history and technical analysis giving the investor a clearer view of the supply and demand in the market. All this information provides the investor a good image of the market and encourages him to trade. This paper wishes to draft the pieces of an online trading platform and to analyze the impact of developing and implementing one in a brokerage firm.

  20. 75 FR 40795 - Review of Sourcing Change, Foreign-Trade Subzone 61H, Baxter Healthcare of Puerto Rico...

    Science.gov (United States)

    2010-07-14

    ... Foreign-Trade Zones Board Review of Sourcing Change, Foreign-Trade Subzone 61H, Baxter Healthcare of...(a)(3)(iii)(A)) of changes in sourcing related to inhalation anesthetics at Foreign-Trade Subzone 61H...-free to 20%). Baxter has now notified the Board of additional sourcing of two chemical inputs. The new...

  1. Richard III

    DEFF Research Database (Denmark)

    Lauridsen, Palle Schantz

    2017-01-01

    Kort analyse af Shakespeares Richard III med fokus på, hvordan denne skurk fremstilles, så tilskuere (og læsere) langt henad vejen kan føle sympati med ham. Med paralleller til Netflix-serien "House of Cards"......Kort analyse af Shakespeares Richard III med fokus på, hvordan denne skurk fremstilles, så tilskuere (og læsere) langt henad vejen kan føle sympati med ham. Med paralleller til Netflix-serien "House of Cards"...

  2. Trading away what kind of jobs? Globalization, trade and tasks in the US economy.

    Science.gov (United States)

    Kemeny, Thomas; Rigby, David

    2012-04-01

    Economists and other social scientists are calling for a reassessment of the impact of international trade on labor markets in developed and developing countries. Classical models of globalization and trade, based upon the international exchange of finished goods, fail to capture the fragmentation of much commodity production and the geographical separation of individual production tasks. This fragmentation, captured in the growing volume of intra-industry trade, prompts investigation of the effects of trade within, rather than between, sectors of the economy. In this paper we examine the relationship between international trade and the task structure of US employment. We link disaggregate US trade data from 1972 to 2006, the NBER manufacturing database, the Decennial Census, and occupational and task data from the Dictionary of Occupational Titles. Within-industry shifts in task characteristics are linked to import competition and technological change. Our results suggest that trade has played a major role in the growth in relative demand for nonroutine tasks, particularly those requiring high levels of interpersonal interaction.

  3. Preferential trade agreements and their role in world trade

    OpenAIRE

    Medvedev, Denis

    2006-01-01

    The author investigates the effects of preferential trade agreements (PTAs) on bilateral trade flows using a comprehensive database of PTAs in force and a detailed matrix of world trade. He shows that total trade between PTA partners is a poor proxy for preferential trade (trade in tariff lines where preferences are likely to matter): while the former amounted to one-third of global trade in 2000-02, the latter was between one-sixth and one-tenth of world trade. His gravity model estimates in...

  4. The Trade-off between Liquidity and Precision of Position in Option Contracts

    DEFF Research Database (Denmark)

    Koch, Alexander; Lazarov, Zdravetz

    2007-01-01

    More liquid financial contracts are claimed to draw trading volume from contracts for which they are close substitutes. We provide the first analysis of how trading volume across existing financial contracts is affected by changes in the factors that govern the degree to which they are substitutes...

  5. The Trade-off between Liquidity and Precision of Position in Option Contracts

    DEFF Research Database (Denmark)

    Koch, Alexander; Lazarov, Zdravetz

    2007-01-01

    More liquid financial contracts are claimed to draw trading volume from contracts for which they are close substitutes. We provide the first analysis of how trading volume across existing financial contracts is affected by changes in the factors that govern the degree to which they are substitutes...

  6. Trade related infections: farther, faster, quieter

    Directory of Open Access Journals (Sweden)

    Arima Yuzo

    2005-04-01

    Full Text Available Abstract Modern global trading traffics large volumes of diverse products rapidly to a broad geographic area of the world. When emergent infections enter this system in traded products their transmission is amplified. With truly novel emergent infections with long incubation periods, such as Human Immunodeficiency Virus (HIV or variant Creutzfeld Jacob Disease (vCJD, this transmission may silently disseminate infection to far distant populations prior to detection. We describe the chronology of two such "stealth infections," vCJD and HIV, and the production, processing, and distribution changes that coincided with their emergence. The concept of "vector products" is introduced. A brief case study of HIV incursion in Japan is presented in illustration. Careful "multisectoral" analysis of such events can suggest ecologically critical pathways of emergence for further research. Such analyses emphasize the urgency of implementing safety measures when pathogens enter globally traded products.

  7. African agricultural trade

    DEFF Research Database (Denmark)

    Jensen, Hans Grinsted; Sandrey, Ron

    2015-01-01

    This article starts with a profile of African agricultural trade. Using the pre-release version 9.2 of the GTAP database, we then show that the results for tariff elimination on intra-African trade are promising, but these tariff barriers are not as significant as the various trade-related barriers...... outside of tariffs. Impressive results were forecast by simulating both a 50% reduction in what can be considered traditional non-tariff barriers and a modest 20% reduction in the costs associated with transit time delays at customs, terminals and internal land transportation. Gains from tariff...

  8. Trade and Development

    DEFF Research Database (Denmark)

    Abbott, Philip; Bentzen, Jeanet Sinding; Tarp, Finn

    2009-01-01

    History, not predictions of CGE models or cross-country growth studies, shows a strong relationship between trade and development. Vietnam’s experience with bilateral trade agreements, comparing actual outcomes with predictions from existing models, demonstrates this and the limitations of research...... methodologies. Forecasts for Vietnam greatly underestimated the impact of past agreements because tariff reform was not the main factor driving adjustments. Addressing market imperfections through institutional reform was central to bringing output and trade expansion. Key questions for future research...... are whether policy reform will result in new institutional changes, and how resulting incentives determine the evolution of investment by sector....

  9. Trade and Sectoral Productivity

    OpenAIRE

    2008-01-01

    Even though differences in sectoral total factor productivity are at the heart of Ricardian trade theory and many models of growth and development, very little is known about their size and their form. In this paper we try to fill this gap by using a Hybrid-Ricardo-Heckscher-Ohlin trade model and bilateral sectoral trade data to overcome the data problem that has limited previous studies, which have used input and output data to back out productivities, to a small number of OECD economies. We...

  10. Secure Mobile Trade Agent

    Directory of Open Access Journals (Sweden)

    Musbah M. Aqe

    2007-01-01

    Full Text Available E-commerce on the internet has the ability to produce millions of transactions and a great number of merchants whose supply merchandise over the internet. As a result, it is difficult for entities to roam over every site on the internet and choose the best merchandise to trade. So, in this paper we introduced a mobile trade agent that visit the sites to gather and evaluate the information from merchant servers and decide to trade goods on behalf of the user. We observed that the combination of public key cryptosystem with distributed object technology make this proposed scheme more secure and efficient than the already existed schemes.

  11. International biodiesel markets. Developments in production and trade

    Energy Technology Data Exchange (ETDEWEB)

    Lamers, P. [Ecofys Germany, Berlin (Germany)

    2012-01-15

    The global biodiesel market has shown an exponential growth in production and trade across the past decade. Nowadays, more biodiesel than ever before is sourced from abroad and procurement areas - especially of large scale producers and traders - span the globe. While this trend is bound to continue, markets and trade developments are still strongly linked to support and trade policies. Furthermore, the biodiesel industry is strongly linked to other sectors (agriculture and mineral oil industry in particular) and faces significant market disturbances some of which have led to various inefficiencies in the past. Due to the pace of this market development, a methodological assessment and understanding of the numerous influencing factors was needed to reduce uncertainties and risks for those involved. A recently published analysis by Ecofys and the Copernicus Institute, Utrecht University, provided such an analysis. It evaluates how the interaction of domestic policies steered global trade streams towards different markets, in particular in connection to underlying trade policies and additional market forces, over the past decade. It provides robust data on international production and trade volumes which have already served as input to the recently published Special Report on Renewable Energy (SRREN) by the Intergovernmental Panel on Climate Change (IPCC). This market brochure was commissioned by UFOP to build upon the methodologies and findings of Lamers et al. and to provide a picture of the global biodiesel market in 2010/2011. It is structured in six sections: an overview of global production volumes (Section 2); developments of EU (Section 3) and other world (Section 4) markets and (trade) policies; global net trade volumes (Section 5); vegetable oil trade patterns and their link to biodiesel trade (Section 6); Conclusions and Outlook (Section 7)

  12. Romania’s Trade in Services. Recent Trends and Prospects

    Directory of Open Access Journals (Sweden)

    Agnes Ghibuțiu

    2013-07-01

    Full Text Available Romania's trade in services has been severely hit by the global financial and economic crisis, and the negative consequences were still felt in 2012. This article aims to analyse the recent trends in Romania's services trade and assess its prospects. Relying on balance of payments statistics provided by the National Bank of Romania, it gives an overall picture on the dynamics, volume, composition and performance of the country’s trade in services over the crisis and post-crisis years. The analysis highlights a number of peculiarities of Romania's services trade, that seem to detache the country from the developments prevailing at the global and European level. The article concludes that: (1 along with a dramatic crisis-induced decline in the volume of services trade, Romania witnessed a sharp reversal of those favourable trends that have spurred the remarkable growth of its services flows in the pre-crisis period, contributing to rapid structural adjustment and improved performance; (2 the recovery of services trade is significantly delayed compared both to the country’s trade in goods and the trends shaping services flows globally and in the EU; (3 hence, Romania's traditional gap in the area of services trade has widened not only in relation to the old and new EU member states, but also to numerous developing countries.

  13. Propagation of crises in the virtual water trade network

    Science.gov (United States)

    Tamea, Stefania; Laio, Francesco; Ridolfi, Luca

    2015-04-01

    The international trade of agricultural goods is associated to the displacement of the water used to produce such goods and embedded in trade as a factor of production. Water virtually exchanged from producing to consuming countries, named virtual water, defines flows across an international network of 'virtual water trade' which enable the assessment of environmental forcings and implications of trade, such as global water savings or country dependencies on foreign water resources. Given the recent expansion of commodity (and virtual water) trade, in both displaced volumes and network structure, concerns have been raised about the exposure to crises of individuals and societies. In fact, if one country had to markedly decrease its export following a socio-economical or environmental crisis, such as a war or a drought, many -if not all- countries would be affected due to a cascade effect within the trade network. The present contribution proposes a mechanistic model describing the propagation of a local crisis into the virtual water trade network, accounting for the network structure and the virtual water balance of all countries. The model, built on data-based assumptions, is tested on the real case study of the Argentinean crisis in 2008-09, when the internal agricultural production (measured as virtual water volume) decreased by 26% and the virtual water export of Argentina dropped accordingly. Crisis propagation and effects on the virtual water trade are correctly captured, showing the way forward to investigations of crises impact and country vulnerability based on the results of the model proposed.

  14. Food Mass Reduction Trade Study

    Science.gov (United States)

    Perchonok, Michele H.; Stoklosa, Adam M.

    2009-01-01

    Future long duration manned space flights beyond low earth orbit will require the food system to remain safe, acceptable, and nutritious while efficiently balancing appropriate vehicle resources such as mass, volume, power, water, and crewtime. Often, this presents a challenge since maintaining the quality of the food system can result in a higher mass and volume. The Orion vehicle is significantly smaller than the Shuttle vehicle and the International Space Station and the mass and volume available for food is limited. Therefore, the food team has been challenged to reduce the mass of the packaged food from 1.82 kg per person per day to 1.14 kg per person per day. Past work has concentrated on how to reduce the mass of the packaging which contributes to about 15% of the total mass of the packaged food system. Designers have also focused on integrating and optimizing the Orion galley equipment as a system to reduce mass. To date, there has not been a significant effort to determine how to reduce the food itself. The objective of this project is to determine how the mass and volume of the packaged food can be reduced while maintaining caloric and hydration requirements. The following tasks are the key elements to this project: (1) Conduct further analysis of the ISS Standard Menu to determine moisture, protein, carbohydrate, and fat levels. (2) Conduct trade studies to determine how to bring the mass of the food system down. Trade studies may include removing the water of the total food system and/or increasing the fat content. (3) Determine the preferred method for delivery of the new food (e.g. bars, or beverages) and the degree of replacement. (4) Determine whether there are commercially available products that meet the requirements. By the end of this study, an estimate of the mass and volume savings will be provided to the Constellation Program. In addition, if new technologies need to be developed to achieve the mass savings, the technologies, timeline, and

  15. Trading sulphur emissions in Europe: 'Guided Bilateral Trade'

    NARCIS (Netherlands)

    Kruitwagen, S.; Folmer, H.; Hendrix, E.M.T.; Hordijk, L.; Ierland, van E.

    2000-01-01

    In this paper a system of `guided permit trading' is developed for SO2 emissions reduction which considers permit trading as a bilateral and sequential process. This implies that in order to meet the deposition targets at the end of the trading process, not every single trade transaction has to meet

  16. International Emission Trading Systems: Trade Level and Political Acceptability

    DEFF Research Database (Denmark)

    Boom, J-T.; Svendsen, Gert Tinggaard

    1999-01-01

    The Kyoto Protocol of December 1997 allows emission trade between countries that have committed themselves to an emission ceiling. This paper considers two schemes of emission trading: trade between governments and trade between emission sources. The two schemes are analyzed and the strengths...

  17. Commencement Bay Study. Volume III. Fish Wetlands.

    Science.gov (United States)

    1981-12-31

    area. Amish (1976) studied the occurrence of Philometra americana in English sole and rock sole of central Puget Sound. Amish’s sampling locations...Fisheries Biologist, Washington Department of Fisheries. Personal communication. Amish , R.A., 1976. The occurrence of the bloodworm Philometra americana...wildlife as well as the people of the Puyallup Nation who then inhabited the study area. Six major wetland habitat types have been recognized in the

  18. Design Options Study. Volume III. Qualitative Assessment.

    Science.gov (United States)

    1980-09-01

    would be obtained for a 500,000 lb- or 600,000 lb-payload- aircraft is uncertain. Assesment of De3ign-Option Substitutien TO summnarize the preceding...exhaust smoke and prohibit fuel venting to the atmosphere. In accordance with APR 80-36, as discussed previously in conjunction with the noise...Laboratory in terms of combustor efficiency, specific NO Xvalues, and specific levels Of Visible smoke . In the Most recent EPA proposals. emission

  19. Progress Report on Alzheimer Disease: Volume III.

    Science.gov (United States)

    National Inst. on Aging (DHHS/PHS), Bethesda, MD.

    This report summarizes advances in the understanding of Alzheimer's disease, the major cause of mental disability among older Americans. The demography of the disease is discussed, noting that approximately 2.5 million American adults are afflicted with the disease and that the large increase in the number of Alzheimer's disease patients is due to…

  20. Towboat Maneuvering Simulator. Volume III. Theoretical Description.

    Science.gov (United States)

    1979-05-01

    overshoot or :igzag maneuver;I - 1,2,3 .. . 6FL F- _’ Flan"ing rudder deflection rate a _ __ Steering rudder deflection rate Ship propulsion ratlol " elh...used with the equations are for the ship propulsion point (n - 1.0). The equations are written in terms of the complete barge flotillia towboat

  1. Great III - Cultural Resource Inventory. Volume 2

    Science.gov (United States)

    1982-05-01

    Historical Sketch of St. Louis University. Patrick Fox, • St. Louis. Historical look at the St. Louis mound complex. Holmes, Nathaniel 1868 Loess...Saint Louis to Me. St. Louis, Missouri: Hawthorn Pub- lishing Company, 1978. 305 p., illus. £ates, Giwendolyn Lewis 1976 Historic Sites Inventory for...Watercolors by Marilynne Bradley. St. Louis: Hawthorn Publishing Company, c. 1977. 259 p., illus. (part color). Includes: Old Courthouse, Old

  2. World Trade Center

    Index Scriptorium Estoniae

    2006-01-01

    Esilinastus katastroofifilm "World Trade Center" : stsenarist Andrea Berloff : režissöör Oliver Stone : kunstnik Jan Roelfs : osades Nicholas Cage, Michael Pena, Stephen Dorff jpt : Ameerika Ühendriigid 2006. Ka filmi prototüüpidest

  3. World Trade Center

    Index Scriptorium Estoniae

    2006-01-01

    Esilinastus katastroofifilm "World Trade Center" : stsenarist Andrea Berloff : režissöör Oliver Stone : kunstnik Jan Roelfs : osades Nicholas Cage, Michael Pena, Stephen Dorff jpt : Ameerika Ühendriigid 2006. Ka filmi prototüüpidest

  4. Trading forest carbon - OSU

    Science.gov (United States)

    Issues associate with trading carbon sequestered in forests are discussed. Scientific uncertainties associated with carbon measurement are discussed with respect to proposed accounting procedures. Major issues include: (1) Establishing baselines. (2) Determining additivity from f...

  5. Chilly Trade Winds

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    Traders brave the ill effects of the global economic crisis in one of China’s largest export centers Hongye Cartons Packing Salesroom in Yiwu sells carton packages just across the street from Yiwu International Trade City,a mam-

  6. What Is Emissions Trading?

    Science.gov (United States)

    Learn the basics about how emissions trading uses a market-based policy tool used to control large amounts of pollution emissions from a group of sources in order to protect human health and the environment.

  7. Trading forest carbon - OSU

    Science.gov (United States)

    Issues associate with trading carbon sequestered in forests are discussed. Scientific uncertainties associated with carbon measurement are discussed with respect to proposed accounting procedures. Major issues include: (1) Establishing baselines. (2) Determining additivity from f...

  8. Additive versus multiplicative trade costs and the gains from trade

    DEFF Research Database (Denmark)

    Sørensen, Allan

    This paper addresses welfare effects from trade liberalization in a heterogeneous-fi…rms trade model including the empirically important per-unit (i.e. additive) trade costs in addition to the conventional iceberg (i.e. multiplicative) and fi…xed trade costs. The novel contribution of the paper...... is the result that the welfare gain for a given increase in trade openness is higher for reductions in per-unit (additive) trade costs than for reductions in iceberg (multiplicative) trade costs. The ranking derives from differences in intra-industry reallocations and in particular from dissimilar impacts...

  9. Insurance with frequent trading

    OpenAIRE

    José Penalva

    1997-01-01

    This paper looks at the dynamic management of risk in an economy with discrete time consumption and endowments and continuous trading. I study how agents in such an economy deal with all the risk in the economy and attain their Pareto optimal allocations by trading in a few natural securities: private insurance contracts and a common set of derivatives on the aggregate endowment. The parsimonious nature of the implied securities needed for Pareto optimality suggests that in such contexts comp...

  10. News and Trading Rules

    Science.gov (United States)

    2003-01-01

    indexes or small groups of forex series. Although I use a shorter time period – five years for the work on technical analysis and machine learning, only...I start with practitioner-developed technical analysis constructs, sys- tematically examining their ability to generate trading rules profitable on...a large universe of stocks. Then, I use these technical analysis constructs as the underlying representation for a simple trading rule leaner, with

  11. Trade Back on Track

    Institute of Scientific and Technical Information of China (English)

    LIU YUNYUN

    2010-01-01

    @@ China is taking up a larger piece of the global trade pie as its 2009 exports accounted for almost one 10th of the world total that year.The Ministry of Commerce (MOFCOM)released a report on April 27 summarizing foreign trade in 2009 and the first quarter of 2010.MOFCOM also cautioned exporters of international market volatili ties in the next half of 2010.

  12. Trade, TRIPS, and pharmaceuticals.

    Science.gov (United States)

    Smith, Richard D; Correa, Carlos; Oh, Cecilia

    2009-02-21

    The World Trade Organization's Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) set global minimum standards for the protection of intellectual property, substantially increasing and expanding intellectual-property rights, and generated clear gains for the pharmaceutical industry and the developed world. The question of whether TRIPS generates gains for developing countries, in the form of increased exports, is addressed in this paper through consideration of the importance of pharmaceuticals in health-care trade, outlining the essential requirements, implications, and issues related to TRIPS, and TRIPS-plus, in which increased restrictions are imposed as part of bilateral free-trade agreements. TRIPS has not generated substantial gains for developing countries, but has further increased pharmaceutical trade in developed countries. The unequal trade between developed and developing countries (ie, exporting and importing high-value patented drugs, respectively) raises the issue of access to medicines, which is exacerbated by TRIPS-plus provisions, although many countries have not even enacted provision for TRIPS flexibilities. Therefore this paper focuses on options that are available to the health community for negotiation to their advantage under TRIPS, and within the presence of TRIPS-plus.

  13. Physicians and Insider Trading.

    Science.gov (United States)

    Kesselheim, Aaron S; Sinha, Michael S; Joffe, Steven

    2015-12-01

    Although insider trading is illegal, recent high-profile cases have involved physicians and scientists who are part of corporate governance or who have access to information about clinical trials of investigational products. Insider trading occurs when a person in possession of information that might affect the share price of a company's stock uses that information to buy or sell securities--or supplies that information to others who buy or sell--when the person is expected to keep such information confidential. The input that physicians and scientists provide to business leaders can serve legitimate social functions, but insider trading threatens to undermine any positive outcomes of these relationships. We review insider-trading rules and consider approaches to securities fraud in the health care field. Given the magnitude of the potential financial rewards, the ease of concealing illegal conduct, and the absence of identifiable victims, the temptation for physicians and scientists to engage in insider trading will always be present. Minimizing the occurrence of insider trading will require robust education, strictly enforced contractual provisions, and selective prohibitions against high-risk conduct, such as participation in expert consulting networks and online physician forums, by those individuals with access to valuable inside information.

  14. Emissions trading: principles and practice

    National Research Council Canada - National Science Library

    Tietenberg, T.H

    2006-01-01

    ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 The Evolution of Emissions Trading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 The Evolution of Design Features...

  15. Trade Union Education in Canada.

    Science.gov (United States)

    Sullivan, T.

    1982-01-01

    The provision of trade union education is a function of the structure of trade unionism which, in turn, is a function of the structure of collective bargaining. Trade union structure is taken to include size distribution, distribution of power, and objectives of trade unions. (Falmer Press, Falmer House, Barcombe, Nr Lewes, East Sussex BN8 5DL,…

  16. 何谓trade paperback?

    Institute of Scientific and Technical Information of China (English)

    练小川

    2010-01-01

    在英美出版业,有好几个与trade这个字有关的专业词汇,例如:tradebook,trade publishing,trade paperback。trade book译为“大众图书”,trade publishing自然就译成“大众出版”。

  17. Aflatoxin regulations in a network of global maize trade.

    Directory of Open Access Journals (Sweden)

    Felicia Wu

    Full Text Available Worldwide, food supplies often contain unavoidable contaminants, many of which adversely affect health and hence are subject to regulations of maximum tolerable levels in food. These regulations differ from nation to nation, and may affect patterns of food trade. We soughtto determine whether there is an association between nations' food safety regulations and global food trade patterns, with implications for public health and policymaking. We developed a network model of maize trade around the world. From maize import/export data for 217 nations from 2000-2009, we calculated basic statistics on volumes of trade; then examined how regulations of aflatoxin, a common contaminant of maize, are similar or different between pairs of nations engaging in significant amounts of maize trade. Globally, market segregation appears to occur among clusters of nations. The United States is at the center of one cluster; European countries make up another cluster with hardly any maize trade with the US; and Argentina, Brazil, and China export maize all over the world. Pairs of nations trading large amounts of maize have very similar aflatoxin regulations: nations with strict standards tend to trade maize with each other, while nations with more relaxed standards tend to trade maize with each other. Rarely among the top pairs of maize-trading nations do total aflatoxin standards (standards based on the sum of the levels of aflatoxins B(1, B(2, G(1, and G(2 differ by more than 5 µg/kg. These results suggest that, globally, separate maize trading communities emerge; and nations tend to trade with other nations that have very similar food safety standards.

  18. Aflatoxin Regulations in a Network of Global Maize Trade

    Science.gov (United States)

    Wu, Felicia; Guclu, Hasan

    2012-01-01

    Worldwide, food supplies often contain unavoidable contaminants, many of which adversely affect health and hence are subject to regulations of maximum tolerable levels in food. These regulations differ from nation to nation, and may affect patterns of food trade. We soughtto determine whether there is an association between nations' food safety regulations and global food trade patterns, with implications for public health and policymaking. We developed a network model of maize trade around the world. From maize import/export data for 217 nations from 2000–2009, we calculated basic statistics on volumes of trade; then examined how regulations of aflatoxin, a common contaminant of maize, are similar or different between pairs of nations engaging in significant amounts of maize trade. Globally, market segregation appears to occur among clusters of nations. The United States is at the center of one cluster; European countries make up another cluster with hardly any maize trade with the US; and Argentina, Brazil, and China export maize all over the world. Pairs of nations trading large amounts of maize have very similar aflatoxin regulations: nations with strict standards tend to trade maize with each other, while nations with more relaxed standards tend to trade maize with each other. Rarely among the top pairs of maize-trading nations do total aflatoxin standards (standards based on the sum of the levels of aflatoxins B1, B2, G1, and G2) differ by more than 5 µg/kg. These results suggest that, globally, separate maize trading communities emerge; and nations tend to trade with other nations that have very similar food safety standards. PMID:23049773

  19. Aflatoxin regulations in a network of global maize trade.

    Science.gov (United States)

    Wu, Felicia; Guclu, Hasan

    2012-01-01

    Worldwide, food supplies often contain unavoidable contaminants, many of which adversely affect health and hence are subject to regulations of maximum tolerable levels in food. These regulations differ from nation to nation, and may affect patterns of food trade. We soughtto determine whether there is an association between nations' food safety regulations and global food trade patterns, with implications for public health and policymaking. We developed a network model of maize trade around the world. From maize import/export data for 217 nations from 2000-2009, we calculated basic statistics on volumes of trade; then examined how regulations of aflatoxin, a common contaminant of maize, are similar or different between pairs of nations engaging in significant amounts of maize trade. Globally, market segregation appears to occur among clusters of nations. The United States is at the center of one cluster; European countries make up another cluster with hardly any maize trade with the US; and Argentina, Brazil, and China export maize all over the world. Pairs of nations trading large amounts of maize have very similar aflatoxin regulations: nations with strict standards tend to trade maize with each other, while nations with more relaxed standards tend to trade maize with each other. Rarely among the top pairs of maize-trading nations do total aflatoxin standards (standards based on the sum of the levels of aflatoxins B(1), B(2), G(1), and G(2)) differ by more than 5 µg/kg. These results suggest that, globally, separate maize trading communities emerge; and nations tend to trade with other nations that have very similar food safety standards.

  20. Trade and the Development of the Pacific Alliance

    Directory of Open Access Journals (Sweden)

    José Armando Hernández Bernal

    2015-11-01

    Full Text Available The Pacific Alliance is a process of deep integration among Colombia, Chile, Peru and Mexico, which aims to build a free trade area and to project into the Asia-Pacific region, in order to enhance existing trade agreements among the members. There is no deep trade relationships among these four countries, despite having regional agreements since the 1990s, as demonstrated by the low volume of reciprocal exports and imports, in addition to the low indicator of intra-industrial trade. In this paper, intra-regional trade index is calculated among the countries of the Pacific Alliance, evidencing low indicators, but with a growth, encouraged by reciprocal or unilateral policies of commercial opening, and by an environment favoring economic growth throughout the region.

  1. Intention-Disguised Algorithmic Trading

    Science.gov (United States)

    Yuen, William; Syverson, Paul; Liu, Zhenming; Thorpe, Christopher

    Large market participants (LMPs) must often execute trades while keeping their intentions secret. Sometimes secrecy is required before trades are completed to prevent other traders from anticipating (and exploiting) the price impact of their trades. This is known as "front-running". In other cases, LMPs with proprietary trading strategies wish to keep their positions secret even after trading because their strategies and positions contain valuable information. LMPs include hedge funds, mutual funds, and other specialized market players.

  2. 78 FR 25060 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-04-29

    ... within the meaning of section 325.2(1) of the Regulations (15 CFR 325.2(1)): 3M Company (St. Paul, MN... . SUPPLEMENTARY INFORMATION: Title III of the Export Trading Company Act of 1982 (15 U.S.C. 4001-21) authorizes... following companies as Members of AIAA's Certificate: AirDat LLC; AMSAFE Aviation; ANSYS Inc.; Armorworks...

  3. Feasibility study, conceptual design and bid package preparation for the treatment and effluent reuse of domestic wastewater discharges from saltillo, Coahuila, Mexico. Final report. Volume 2. Export trade information; Fideicomiso para la ampliacion de infraestructura y eficientizacion del agua potable, drenaje sanitario y saneamiento de aguas residuales para la ciudad de saltillo, coahuila

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-03-01

    The study, conducted by Freese and Nichols, was funded by the U.S. Trade and Development Agency on behalf of the State of Coahuila, Mexico. The report presents the findings of the feasibility study and conceptual design for the treatment and effluent reuse of wastewater from Saltillo, Coahuila. The main objective of the study is to determine the most feasible alternative for wastewater treatment. This is the second of two volumes. It contains the appendices and is divided into the following sections: (1) Appendix A - Wastewater Treatment and Reuse Regulations; (2) Appendix B - Flow Monitoring Program Results; (3) Appendix C - Partial Results for the First Monitoring Period; (4) Appendix D - Characterization Program; (5) Appendix E - Characterization Program Results; (6) Appendix F - Preliminary Treatment Unit Design and Cost Estimation; (7) Appendix G - List of Threatened and Endangered Species; (8) Appendix H - Cost Estimation for the Wastewater Treatment Plant; (9) Appendix I - Hydraulic and Cost Calculations for Interceptors; (10) Appendix J - Financial Feasibility Worksheets.

  4. Bandwidth Trading as Incentive

    Science.gov (United States)

    Eger, Kolja; Killat, Ulrich

    In P2P networks with multi-source download the file of interest is fragmented into pieces and peers exchange pieces with each other although they did not finish the download of the complete file. Peers can adopt different strategies to trade upload for download bandwidth. These trading schemes should give peers an incentive to contribute bandwidth to the P2P network. This chapter studies different trading schemes analytically and by simulations. A mathematical framework for bandwidth trading is introduced and two distributed algorithms, which are denoted as Resource Pricing and Reciprocal Rate Control, are derived. The algorithms are compared to the tit-for-tat principle in BitTorrent. Nash Equilibria and results from simulations of static and dynamic networks are presented. Additionally, we discuss how trading schemes can be combined with a piece selection algorithm to increase the availability of a full copy of the file. The chapter closes with an extension of the mathematical model which takes also the underlying IP network into account. This results in a TCP variant optimised for P2P content distribution.

  5. The Impact of Competition and Information on Intraday Trading

    DEFF Research Database (Denmark)

    Malinova, Katya; Park, Andreas

    2014-01-01

    spreads, decreasing probability of informed trading (PIN), and increasing volume. We predict that policies that foster market entry improve the welfare of uninformed traders and lead to increased market participation by incumbent traders. Technological advances that lead to better signal processing also......In a dynamic model of financial market trading multiple heterogeneously informed traders choose when to place orders. Better informed traders trade immediately, worse informed delay - even though they expect the market to move against them. This behavior generates intraday patterns with decreasing...

  6. New Curbs on Processing Trade for A New Trade Pattern

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ China recently announced a new policy that seeks to rein in the development of processing trade in restricted commodities, in a bid to optimize the country's exporting structure, put strong curbs on the export of "high-energy-consuming, highpolluting and resource-dependent"products, and discourage the export of commodities with low added value and poor technology content, so as to gradually eliminate trade frictions,and promote trade balance to ease tension caused by the too wide trade surplus. The change is instrumental in upgrading the present processing trade system, transforming the pattern of foreign trade growth mode,and promoting the sustainable development of social economy.

  7. International Emission Trading Systems: Trade Level and Political Acceptability

    DEFF Research Database (Denmark)

    Boom, J-T.; Svendsen, Gert Tinggaard

    1999-01-01

    The Kyoto Protocol of December 1997 allows emission trade between countries that have committed themselves to an emission ceiling. This paper considers two schemes of emission trading: trade between governments and trade between emission sources. The two schemes are analyzed and the strengths......, at the international level, industrial lobbyism was non-significant. Only the 'fossil fuel lobby' played a role. Third, at the national level, one could expect strong political opposition from industry lobbies in case quotas are actually to be distributed at firm level. But trade among countries may benefit industry......, the best 'second-best' solution is argued to be that of trade between governments....

  8. Assessing Measures of Order Flow Toxicity via Perfect Trade Classification

    DEFF Research Database (Denmark)

    Andersen, Torben G.; Bondarenko, Oleg

    . The VPIN metric involves decomposing volume into active buys and sells. We use the best-bid-offer (BBO) files from the CME Group to construct (near) perfect trade classification measures for the E-mini S&P 500 futures contract. We investigate the accuracy of the ELO Bulk Volume Classification (BVC) scheme...... and find it inferior to a standard tick rule based on individual transactions. Moreover, when VPIN is constructed from accurate classification, it behaves in a diametrically opposite way to BVC-VPIN. We also find the latter to have forecast power for short-term volatility solely because it generates...... systematic classification errors that are correlated with trading volume and return volatility. When controlling for trading intensity and volatility, the BVC-VPIN measure has no incremental predictive power for future volatility. We conclude that VPIN is not suitable for measuring order flow imbalances....

  9. Tomo III

    OpenAIRE

    2015-01-01

    Memorias, histórico, físicas, crítico, apologéticas de la América Meridional con unas breves advertencias y noticias útiles, a los que de orden de Su Majestad, hubiesen de viajar y describir aquellas vastas regiones. Reino Animal. Tomo III. Por un anónimo americano en Cádiz por los años de 1757. Primera Parte Prólogo Artículo 1°De los cuadrúpedos útiles al hombre a varios usos y a su sustento. Vaca Caballos Carneros de la tierra, especie de camellos Vicuña Guanacos Puercos monteses Artículo 2...

  10. China-EU Trade and Economic Relations (2003-2013

    Directory of Open Access Journals (Sweden)

    CHEN XIN

    2014-05-01

    Full Text Available The paper introduces the development of the China-EU trade and investment relations in the past ten years since the announcement of the China-EU Comprehensive Strategic Partnership, analyzes the driving forces for China's trade surplus with the EU, the situation of the bilateral trade disputes, as well as the issue of the "Market Economy Status" in the bilateral trade relations. The author concludes that great changes have taken place regarding the economic strength and international positions of the two sides, as well as in the international environment in the past ten years since the establishment of China-EU Comprehensive Strategic Partnership. The author also notes that despite the high growth rate of the trade volume between China and the EU, neither side has made adequate preparations for the dynamics of the bilateral trade and no efficient mechanism has been set up to lead the trends. In the future next ten years, China should try to transform the approach led by the EU, shift the passive status in the bilateral trade agenda, more focus on substance instead of forms, and construct a new way of thinking on China-EU economic and trade relations.

  11. 我国区域碳均衡评价及碳汇市场交易额度评估%Regional Carbon Equilibrium Evaluation and Trading Volume Assessment of the Carbon Sequestration Market in China

    Institute of Scientific and Technical Information of China (English)

    钟晓青; 邢晓静; 廖立维; 黄安琦; 徐永成

    2015-01-01

    本文根据我国森林资源的总量和建立在光合系数上的二氧化碳参数,对我国分省的森林碳汇和碳排放量进行了年度总量和年变化的数量评估。根据碳均衡和碳中和原则,将我国的省份分成碳汇省份、碳源省份和基本碳均衡省份。在产权明晰、初始产权分配合理、排污权交易机制不断完善的基础上,研究、分析、评估了我国低碳经济转型中碳汇交易市场的建立、交易额度、定价机制和均衡过程,为我国在节能减排、新能源替代和碳均衡三大机制中实现新经济、新分配、新效果提供了帮助,也为我国在国际碳交易的博弈中取得了经验,并为应对世界性的气候变化和低碳转型作出了理论的和实际的贡献。%According to the total amount of forest resources and the carbon dioxide parameters from the pho-tosynthetic coefficient,this paper evaluates the annual total amount and annual variation of the forest carbon se-questration and carbon emissions in different provinces of China. Based on the carbon balance principle and car-bon neutral principle, China’s provinces are divided into carbon sequestration provinces, carbon sources provinces and carbon equilibrium provinces. Considering clearly established ownership, the reasonable distribution of initial property rights, and the gradually perfected mechanism of emission rights trading, this paper also examines and analyzes the establishment of carbon sequestration trading market, the transaction amount, the pricing mechanism and the equilibrium process in China’s low-carbon economy transformation.Our study is helpful to the realization of new economy, new distribution and new effects in the three mechanisms of energy saving, new energy substitu-tion and carbon balance, and makes a theoretical and practical contribution for China to getting experience in the world carbon trading competition and for the world to coping with climate

  12. Korea’s Trade Strategies for Mega Free Trade Agreements in Regional and Global Economic Integration

    Directory of Open Access Journals (Sweden)

    Sang-Chul Park

    2016-12-01

    Full Text Available Korea has developed rapidly since the 1960s. It is one of the four Asian tiger economies and a good model for developing countries. Korea shows the world how a developing country can develop its economy rapidly and become industrialized. Its development strategy has mainly been an export-oriented trade policy. As a result, its trade volume grew from $1 billion in 1966 to $1 trillion in 2011, which is a 1,000-fold increase within five decades. Since 2011, Korea has become one of seven countries with a trade volume over $1 trillion. However, the Korean economy has experienced turbulence as well as positive growth. It underwent severe economic crises such as the Asian financial crisis in 1997 and the global financial crisis in 2008. Its economy has been extremely vulnerable to the external economic environment, although it has improved and strengthened, particularly since the global financial crisis. During those two crises, the government carried out an appropriate trade policy with a strategic approach to upgrade its industrial structure and competitiveness in global markets. This article comprehensively discusses Korean trade policy and strategy over the last five decades, and how its national economy has developed rapidly. It also explores how the government sets its strategic targets in Asia and the Asia Pacific region. It considers two mega free trade agreements (FTAs — the Regional Comprehensive Economic Partnership and the Trans-Pacific Partnership — as new opportunities for further development. Therefore, it is wise to analyze these regional mega FTAs in order to maximize the national interest.

  13. Graphics Gems III IBM version

    CERN Document Server

    Kirk, David

    1994-01-01

    This sequel to Graphics Gems (Academic Press, 1990), and Graphics Gems II (Academic Press, 1991) is a practical collection of computer graphics programming tools and techniques. Graphics Gems III contains a larger percentage of gems related to modeling and rendering, particularly lighting and shading. This new edition also covers image processing, numerical and programming techniques, modeling and transformations, 2D and 3D geometry and algorithms,ray tracing and radiosity, rendering, and more clever new tools and tricks for graphics programming. Volume III also includes a

  14. The Supply of Trade Credit by Brazilian Publicly Traded Firms

    Directory of Open Access Journals (Sweden)

    Rafael Felipe Schiozer

    2011-12-01

    Full Text Available This paper investigates the determinants of trade credit supply by Brazilian publicly traded companies between the years of 2005 and 2008. International literature (both theoretical and empirical documents that the main determinants of trade credit supply are the size of the firm and the size of its debt. Both indicate that the availability of resources to the firm is an important factor for the supply of trade credit. In addition, the literature confirms strategic uses of trade credit such as those for price discrimination purposes. The results obtained using a sample of 157 Brazilian companies do not support that size and indebtedness are relevant determinants for trade credit supply, but they confirm the supply of trade credit as a strategic tool for the firms. Additionally we observed a significant decrease in trade credit supply in 2008, the year in which a severe international financial crisis took place.

  15. Sequential (gemcitabine/vinorelbine and concurrent (gemcitabine radiochemotherapy with FDG-PET-based target volume definition in locally advanced non-small cell lung cancer: first results of a phase I/II study

    Directory of Open Access Journals (Sweden)

    Stanzel Sven

    2007-06-01

    Full Text Available Abstract Background The aim of the study was to determine the maximal tolerated dose (MTD of gemcitabine every two weeks concurrent to radiotherapy, administered during an aggressive program of sequential and simultaneous radiochemotherapy for locally advanced, unresectable non-small cell lung cancer (NSCLC and to evaluate the efficacy of this regime in a phase II study. Methods 33 patients with histologically confirmed NSCLC were enrolled in a combined radiochemotherapy protocol. 29 patients were assessable for evaluation of toxicity and tumor response. Treatment included two cycles of induction chemotherapy with gemcitabine (1200 mg/m2 and vinorelbine (30 mg/m2 at day 1, 8 and 22, 29 followed by concurrent radiotherapy (2.0 Gy/d; total dose 66.0 Gy and chemotherapy with gemcitabine every two weeks at day 43, 57 and 71. Radiotherapy planning included [18F] fluorodeoxyglucose positron emission tomography (FDG PET based target volume definition. 10 patients were included in the phase I study with an initial gemcitabine dose of 300 mg/m2. The dose of gemcitabine was increased in steps of 100 mg/m2 until the MTD was realized. Results MTD was defined for the patient group receiving gemcitabine 500 mg/m2 due to grade 2 (next to grade 3 esophagitis in all patients resulting in a mean body weight loss of 5 kg (SD = 1.4 kg, representing 8% of the initial weight. These patients showed persisting dysphagia 3 to 4 weeks after completing radiotherapy. In accordance with expected complications as esophagitis, dysphagia and odynophagia, we defined the MTD at this dose level, although no dose limiting toxicity (DLT grade 3 was reached. In the phase I/II median follow-up was 15.7 months (4.1 to 42.6 months. The overall response rate after completion of therapy was 64%. The median overall survival was 19.9 (95% CI: [10.1; 29.7] months for all eligible patients. The median disease-free survival for all patients was 8.7 (95% CI: [2.7; 14.6] months. Conclusion

  16. Learning with Trade Unionists.

    Science.gov (United States)

    Wooton, Richard

    1986-01-01

    Recommends that the study of trade unions be included in the school curriculum. Argues that learning about relationships between unions and management through interviews, observations, and simulations can enhance the overall approach to teaching about controversial topics. Gives examples of some attempts to do this in schools. (TW)

  17. DISMAYED OVER TRADE

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    Seventeen. That’s the number of China’s actual working days in February, largely due to the Spring Festival. Yet somehow, in such a short working month, exports soared to new highs, causing the trade surplus to boom once again. According to statistics fr

  18. Intra-industry trade

    NARCIS (Netherlands)

    J.G.M. van Marrewijk (Charles)

    2008-01-01

    textabstractIntra-industry trade arises if a country simultaneously imports and exports similar types of goods or services. Similarity is identified here by the goods or services being classified in the same “sector”. Suppose, for the sake of argument, that we focus on the sector “cars”. Intra-indus

  19. Slowdown Trade Surplus Growth

    Institute of Scientific and Technical Information of China (English)

    Leo Zhao

    2008-01-01

    @@ According to Ma Kai's economic planning report submitted to the NPC session on March 5th.(Ma Kai is the Minister in charge of the National Development and Reform Commission),the government has listed the slowdown in trade surplus growth and the steady expansion of,external investment as major tasks for 2008.

  20. Maintenance Trades Guidelines

    Science.gov (United States)

    Weidner, Theodore J.

    2008-01-01

    In 2002, APPA published "Maintenance Staffing Guidelines for Educational Facilities," the first building maintenance trades staffing guideline designed to assist educational facilities professionals with their staffing needs. addresses how facilities professionals can determine the appropriate size and mix of their organization. Contents…

  1. Syllabus in Trade Welding.

    Science.gov (United States)

    New York State Education Dept., Albany. Bureau of Secondary Curriculum Development.

    The syllabus outlines material for a course two academic years in length (minimum two and one-half hours daily experience) leading to entry-level occupational ability in several welding trade areas. Fourteen units covering are welding, gas welding, oxyacetylene welding, cutting, nonfusion processes, inert gas shielded-arc welding, welding cast…

  2. Globalization and world trade

    Science.gov (United States)

    Peter J. Ince; Joseph Buongiorno

    2007-01-01

    This chapter discusses economic globalization and world trade in relation to forest sector modeling for the US/North American region. It discusses drivers of economic globalization and related structural changes in US forest product markets, including currency exchange rates and differences in manufacturing costs that have contributed to the displacement of global...

  3. Racial Trade Barriers?

    DEFF Research Database (Denmark)

    Bjerre, Jacob Halvas

    Aryanization is associated with Nazi Germany's policies to exclude Jews in the Germany from the economy in the pre-war years, but I will show it was a global policy from 1937. The utopian goal of international Aryanization was the total removal of Jews who traded with Germany anywhere in the world...

  4. Trading forest carbon

    Science.gov (United States)

    The nature of carbon in forests is discussed from the perspective of carbon trading. Carbon inventories, specifically in the area of land use and forestry are reviewed for the Pacific Northwest. Carbon turnover in forests is discussed as it relates to carbon sequestration. Scient...

  5. Blacks and Trade Unionism

    Science.gov (United States)

    Ashenfelter, Orley

    1975-01-01

    This testimony, before a public hearing of the New York City Commission on Human Rights in May 1974, focuses on two issues: (1) the effect of the presence of trade unionism on the position of black workers in the labor market relative to white workers; and (2) the effect of federal government efforts to increase the position of black workers…

  6. Introduction to International Trade.

    Science.gov (United States)

    Crummett, Dan M.; Crummett, Jerrie

    This set of student and teacher guides is intended for use in a course to prepare students for entry-level employment in such occupational areas in international trade as business/finance, communications, logistics, and marketing. The following topics are covered in the course's five instructional units: introduction to careers in international…

  7. Traits traded off

    NARCIS (Netherlands)

    Rueffler, Claus

    2006-01-01

    The course of evolution is restricted by constraints. A special type of constraint is a trade-off where different traits are negatively correlated. In this situation a mutant type that shows an improvement in one trait suffers from a decreased performance through another trait. In a fixed fitness la

  8. Trade Facilitation in Ethiopia:

    African Journals Online (AJOL)

    Tilahun_EK

    The longer the time taken for import/export procedures or journey, the more expensive ... , p10 (Last accessed April 2014). 7 Jean-Paul .... environment, product standards, technical barriers to trade etc. in order to lower cost of moving ..... consumer electronics, and auto spare parts. For all other ...

  9. Energy trading; Trading de l'energie

    Energy Technology Data Exchange (ETDEWEB)

    Glachant, J.M. [Paris-1 Univ., 75 (France); Kimman, R.; Schweickardt, H.E. [and others

    2001-05-01

    This document brings together 18 testimonies of experts about energy trading: 1 - the energy trading experience on European deregulated markets: structure of deregulated energy markets in Europe, case study: a two years experience of a power exchange in western Europe, case study: European energy exchanges (experience of spot and future trading), case study: risk management on energy deregulated markets; 2 - the trading activity environment and realities in France: the French electrical law and the purchase for resale, experience feedback: status after 3 months of trading in France (the first experience of a French producer), the access to the power transportation network, which legal constraints for trading in France, the access of eligible clients to the French power market, conditions of implementation of a power exchange market in France, which real trading possibilities in France for producers and self-producers in the legal frame, case study: the role of trading in the company (main part or link to process), convergence of gas and electricity markets, gas-electricity trading: which pricing models; 3 - risk management and use of new technologies potentiality, the results outside the French borders: case study: what differences between the European and US markets, prices volatility and commodity risk management: towards the on-line trading, role and developments of E-business in energy trading, how to simplify trade in a liberalized market. (J.S.)

  10. IDENTIFYING THE CHIEF TRADING EMPORIUMS IN INDIAN OCEAN MARITIME TRADE c.1000-c.1500

    Directory of Open Access Journals (Sweden)

    Dr. Priyatosh Sharma

    2014-04-01

    Full Text Available Sea-ports constituted an important part in Indian sea trade. Ports were instrumental in attracting sea traffic. Ports occupied cosmopolitan space owning to the confluence and presence of foreign and indigenous merchants. The state had to tread a cautious path because atrocities and misgovernment might result in exodus of merchants to a new place. No modern work has managed to study the chief characteristics of main ports (Trading emporiums, between c. 1000-c. 1500, which could be identified throughout India irrespective of time and space gap. Even the contemporary accounts of Ibn Battuta, Duarte Barbosa and Tome Pires distinctly recorded the emergence of trading emporiums. Security, Justice, availability of raw materials and mercantile autonomy resulted in enhanced socio-economic activities which necessitated gradual transformation of a simple port into a ‘Trading Emporium’. Prominent politico-economic regions of India like Sind, Gujarat, Konkan, Malabar, the Coromandel, Orissa and Bengal have been taken into account with help of both primary and secondary sources to identify main ports (Chief Trading Emporiums. The research paper also aims to study the basic principles which help these ports to attract such a large volume of sea traffic.

  11. The Appeal for Trade Liberalization

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    China takes advantage of APEC summit to encourage action against trade protectionism since the outbreak of the financial crisis last year, top Chinese leaders have been consistent in their appeals for trade and investment

  12. Trading Network Predicts Stock Price

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-01

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  13. Cashing In On Free Trade

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    The China-ASEAN Free Trade Area (CAFTA) is, of course, not a zero-sum game. Responding to concerns over escalating competition associated with free trade, ASEAN Secretary General Surin Pitsuwan said in a press release issued at

  14. Extracting geography from trade data

    Science.gov (United States)

    Li, Yuke; Wu, Tianhao; Marshall, Nicholas; Steinerberger, Stefan

    2017-05-01

    Understanding international trade is a fundamental problem in economics-one standard approach is via what is commonly called the "gravity equation", which predicts the total amount of trade Fi j between two countries i and j as

  15. Trading network predicts stock price.

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-16

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  16. Changes in China's Trade Policy?

    Institute of Scientific and Technical Information of China (English)

    Wang Xi; Zhang Yong

    2010-01-01

    @@ We will steadily develop foreign trade. The main issues are to exploit new markets, adjust the trade structure and promote trade balance", Chinese Premier Wen Jiabao delivered a government work report at the opening meeting of the annual full session of the National People's Congress (NPC), China's top legislature, which started in Beijing on March 5, declaring a new development path of Chinese foreign trade in 2010.

  17. Examination of the environmental consequences of trade regimes in Latin America

    Directory of Open Access Journals (Sweden)

    Diego Alejandro Martínez Ballesteros

    2009-11-01

    Full Text Available Since the 1990s, Latin America has experienced an expansion of trade and investment regimes that suggest important challenges for environmental management. This document argues that, in order to favour export oriented sectors and attract foreign investment, these trade regimes may: i Influence environmental management to reflect the needs of the trade community; ii Superimpose investment rights and protection measures upon public environmental concerns and national environmental laws; iii Erode the capacity of governments and the willingness of decision-makers to approach key environmental problems that result from trade and investment activities. The representative cases of NAFTA and Mercosur are analysed.

  18. Feasibility studies for the development of petroleum areas. Integrated exploitation project of the fields in the area north of Santa Cruz. Volume 2. Tables and figures. Export trade information

    Energy Technology Data Exchange (ETDEWEB)

    1991-03-01

    The report, generated by Scientific Software-Intercomp, Inc. for Yacimientos Petroliferos Fiscales Bolivianos, documents the results of a feasibility study which addressed the viability of developing petroleum areas in Bolivia. The primary objective of the project was to describe the reservoirs that have been discovered and their reserves, describe which would be the best alternatives for development of these reservoirs, and to determine the best alternatives for development of all the reserves together. The report, volume 2 of 4 contains Tables and Figures.

  19. How Insiders Traded before Rules

    NARCIS (Netherlands)

    Braggion, F.; Moore, L.

    2012-01-01

    Abstract: U.K. company insiders, such as directors, were legally allowed to trade in the shares of their own companies up until the Companies Act of 1980. We investigate the trading behaviour of directors over the period 1893 to 1907 in the U.K. Although insider trading was profitable, we find relat

  20. A New Way To Trade

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    China expands yuan settlement in trade with Russia, while allowing the yuan to trade against the ruble Cross-border trade between China and Russia was bountiful throughout the 1990s as a group of Chinese and Russian dealers,nicknamed the daoye, or profiteers who buy low and sell high, shuttled consumer goods

  1. How Insiders Traded before Rules

    NARCIS (Netherlands)

    Braggion, F.; Moore, L.

    2012-01-01

    Abstract: U.K. company insiders, such as directors, were legally allowed to trade in the shares of their own companies up until the Companies Act of 1980. We investigate the trading behaviour of directors over the period 1893 to 1907 in the U.K. Although insider trading was profitable, we find

  2. Yellow fever, Asia and the East African slave trade.

    Science.gov (United States)

    Cathey, John T; Marr, John S

    2014-05-01

    Yellow fever is endemic in parts of sub-Saharan Africa and South America, yet its principal vectors--species of mosquito of the genus Aedes--are found throughout tropical and subtropical latitudes. Phylogenetic analyses indicate that yellow fever originated in Africa and that its spread to the New World coincided with the slave trade, but why yellow fever has never appeared in Asia remains a mystery. None of several previously proposed explanations for its absence there is considered satisfactory. We contrast the trans-Atlantic slave trade, and trade across the Sahara and to the Arabian Peninsula and Mesopotamia, with that to Far East and Southeast Asian ports before abolition of the African slave trade, and before the scientific community understood the transmission vector of yellow fever and the viral life cycle, and the need for shipboard mosquito control. We propose that these differences in slave trading had a primary role in the avoidance of yellow fever transmission into Asia in the centuries before the 20(th) century. The relatively small volume of the Black African slave trade between Africa and East and Southeast Asia has heretofore been largely ignored. Although focal epidemics may have occurred, the volume was insufficient to reach the threshold for endemicity.

  3. Trade, Foreign Direct Investment and R&D Spillovers

    Directory of Open Access Journals (Sweden)

    Jaehwa Lee

    2004-06-01

    Full Text Available The paper examines the evidence of R & D spillovers through trade and foreign direct investment at the industrial sectoral level. Specifically, it focuses on the appropriate measure of foreign R&D stocks embodied in imports, and proposes an alternative measure to the traditional measure. With a new measure of foreign technology, this paper then empirically distinguishes between R&D spillovers from import volume and from import variety. Panel estimations with fixed effects use a data set comprised of eight sectors in the manufacturing industry of thirteen OECD countries from 1981 to 1999. This empirical work at disaggregated level has shown the evidence to generally support the role of manufacturing imports in the international diffusion of technology. In particular, the results imply that the impact of import variety proves stronger and more significant in investigating trade-related R&D spillovers. The evidence indicates the variety effect dominates the volume effect, and hence import variety proves more important in explaining trade-related technological diffusion. This paper also investigates R&D spillovers occurring simultaneously through trade and non-trade (i.e., FDI channels, Empirical results provide no strong evidence on R&D spillovers through FDI, although FDI is often considered as an important channel for technological diffusion. The evidence implies that the effect of trade channel dominates that of the FDI channel and finds that FDI only weakly affects domestic productivity.

  4. Living standards, terms of trade and foreign ownership: reflections on the Australian mining boom

    OpenAIRE

    2012-01-01

    Australia is experiencing its largest mining boom for more than a century and a half. This paper explores, from a national perspective, important economic differences that arise when a mining boom, such as the current one, is generated by sustained export price increases (trading gains) rather than export volume increases. Since 2003, the terms of trade changes – through their direct trading gain effect and indirect real GDP effects – have increased Australian living standards. The increase, ...

  5. Zooplankton biomass (displacement volume) data collected in North Atlantic during ICNAF NORWESTLANT projects I-III in 1963 by different countries, data were acquired from the NMFS-COPEPOD database (NODC Accession 0070201)

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Zooplankton biomass data (displacement volume) collected in North Atlantic during ICNAF (International Convention for the Northwest Atlantic Fisheries) NORWESTLANT...

  6. Zooplankton biomass (displacement and settled volume) data collected during the International Cooperative Investigations of the Tropical Atlantic EQUALANT I, EQUALANT II, and EQUALANT III projects from 1963-02-15 to 1964-07-09 (NODC Accession 0071432)

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Zooplankton biomass (displacement and settled volume) data collected during the International Cooperative Investigations of the Tropical Atlantic EQUALANT I,...

  7. Mechatronic systems and materials III

    CERN Document Server

    Gosiewski, Zdzislaw

    2009-01-01

    This very interesting volume is divided into 24 sections; each of which covers, in detail, one aspect of the subject-matter: I. Industrial robots; II. Microrobotics; III. Mobile robots; IV. Teleoperation, telerobotics, teleoperated semi-autonomous systems; V. Sensors and actuators in mechatronics; VI. Control of mechatronic systems; VII. Analysis of vibration and deformation; VIII. Optimization, optimal design; IX. Integrated diagnostics; X. Failure analysis; XI. Tribology in mechatronic systems; XII. Analysis of signals; XIII. Measurement techniques; XIV. Multifunctional and smart materials;

  8. Trade in tourism services

    DEFF Research Database (Denmark)

    Jensen, Camilla; Zhang, Jie

    2013-01-01

    The article addresses two questions related with tourism as a service trade. Can tourism be explained as other export activities? Does service liberalisation have a positive or negative impact on tourism receipts in destination countries? Previous research has either focused on the demand side...... factors (i.e. factors of demand in the origin countries) or on tourism as a long-run factor of economic growth. The research shows that a complementary perspective such as that offered by trade in a supply side perspective can render additional insights towards understanding tourism. This approach can...... explain why countries have absolute and comparative advantage. Another finding is that tourism as an export can be explained by some of the same destination factors that explain other service exports. Using different panel estimators the importance of supply side factors that are to some extent exclusive...

  9. Trade union revitalisation

    DEFF Research Database (Denmark)

    Ibsen, Christian Lyhne; Tapia, Maite

    2017-01-01

    In this article, we review and assess research on the role of trade unions in labour markets and society, the current decline of unions and union revitalisation. The review shows three main trends. First, trade unions are converging into similar strategies of revitalisation. The ‘organising model......’ has spread far beyond the Anglo-Saxon countries and is now commonplace for unions as a way to reach new worker constituencies. Thus, even in ‘institutionally secure’ countries like Germany and the Nordic countries, unions are employing organising strategies while at the same time trying to defend...... their traditional strongholds of collective bargaining and corporatist policy-making. Second, research has shown that used strategies are not a panacea for success for unions in countries that pearheaded revitalisation. This finding points to the importance of supportive institutional frameworks if unions...

  10. Trade in tourism services

    DEFF Research Database (Denmark)

    Jensen, Camilla; Zhang, Jie

    2013-01-01

    The article addresses two questions related with tourism as a service trade. Can tourism be explained as other export activities? Does service liberalisation have a positive or negative impact on tourism receipts in destination countries? Previous research has either focused on the demand side...... factors (i.e. factors of demand in the origin countries) or on tourism as a long-run factor of economic growth. The research shows that a complementary perspective such as that offered by trade in a supply side perspective can render additional insights towards understanding tourism. This approach can...... explain why countries have absolute and comparative advantage. Another finding is that tourism as an export can be explained by some of the same destination factors that explain other service exports. Using different panel estimators the importance of supply side factors that are to some extent exclusive...

  11. Worlds Apart Trading Together

    DEFF Research Database (Denmark)

    Evers, Kasper Grønlund

    This study sets out to replace the out-dated notion of ‘Indo-Roman trade’ with a more informed perspective integrating the new findings of the last 30 years.In order to accomplish this, a perspective focusing on concrete demand from the ground up is adopted, also shedding light on the role...... of the market in long-distance exchange. Accordingly, the analysis conducted demonstrates that an economically highly substantial trade took place between the Mediterranean and the Indian Ocean in the 1st–6th century CE, altering patterns of consumption and modes of production in India andSouth Arabia as well...... as the Roman Empire.Significantly, it can be documented that this trade was organised at the centres of demand and supply, in Rome and India, respectively, by comparable urban associations, the transport in-between being handled by equally well-organised groups of seagoing merchants.Consequently, this study...

  12. Does trade affect child health?

    Science.gov (United States)

    Levine, David I; Rothman, Dov

    2006-05-01

    Frankel and Romer [Frankel, J., Romer, D., 1999. Does trade cause growth? American Economic Review 89 (3), 379-399] documented positive effects of geographically determined trade openness on economic growth. At the same time, critics fear that openness can lead to a "race to the bottom" that increases pollution and reduces government resources for investments in health and education. We use Frankel and Romer's gravity model of trade to examine how openness to trade affects children. Overall, we find little harm from trade, and potential benefits largely through slightly faster GDP growth.

  13. Trade networks in West Africa

    DEFF Research Database (Denmark)

    Walther, Olivier

    2014-01-01

    To date, most of the literature on trade networks in West Africa has considered networks in a metaphorical way. The aim of this paper is to go one step further by showing how social network analysis may be applied to the study of regional trade in West Africa. After a brief review of the literature......, this exploratory paper investigates two main issues related to regional trade. We start by discussing how recent developments in regional trade in West Africa have contributed to challenging the social structure of traders. We then discuss the changes that have affected the spatiality of regional trade by looking...

  14. International Trade of Biofuels (Brochure)

    Energy Technology Data Exchange (ETDEWEB)

    2013-05-01

    In recent years, the production and trade of biofuels has increased to meet global demand for renewable fuels. Ethanol and biodiesel contribute much of this trade because they are the most established biofuels. Their growth has been aided through a variety of policies, especially in the European Union, Brazil, and the United States, but ethanol trade and production have faced more targeted policies and tariffs than biodiesel. This fact sheet contains a summary of the trade of biofuels among nations, including historical data on production, consumption, and trade.

  15. Trading Out of Poverty: Some Major Issues

    OpenAIRE

    Mikić, Mia

    2000-01-01

    What are the ways in which trade (trade liberalisation) may have impact on poverty? This paper looks at some of the findings of the analytical literature on trade-poverty linkages that operate through the impact of trade on income distribution, and through the impact of trade on economic growth. This paper further asks the question whether trade effects on poverty depend on a particular type of trade liberalisation. In particular, it exposes the weaknesses of non-reciprocal trade liberalisati...

  16. The ASEAN Free Trade Agreement: impact on trade flows and external trade barriers

    OpenAIRE

    Calvo-Pardo, Hector; Freund, Caroline; Ornelas, Emanuel

    2009-01-01

    Using detailed data on trade and tariffs from 1992-2007, the authors examine how the ASEAN Free Trade Agreement has affected trade with nonmembers and external tariffs facing nonmembers. First, the paper examines the effect of preferential and external tariff reduction on import growth from ASEAN insiders and outsiders across HS 6-digit industries. The analysis finds no evidence that prefe...

  17. Tapping Into Trading Trends

    Institute of Scientific and Technical Information of China (English)

    Ali; Ali

    2011-01-01

    China’s online trading entrepreneurs rush to meet growing demand of netizen shoppers AS the sun rises over the Beijing Zoo area, many would be mistaken in thinking that the animals will be the only ones reacting to the change of light.While most Beijing residents are still asleep,an entire workforce is already on the go,seven days a week.These

  18. Gender Inequality and Trade

    OpenAIRE

    Busse, Matthias; Spielmann, Christian

    2005-01-01

    The paper empirically explores the international linkages between gender inequality and trade flows of a sample of 92 developed and developing countries. The focus is on comparative advantage in labour-intensive manufactured goods. The results indicate that gender wage inequality is positively associated with comparative advantage in labour-intensive goods, that is, countries with a larger gender wage gap have higher exports of these goods. Also, gender inequality in labour force activity rat...

  19. Online Digital Trading

    Directory of Open Access Journals (Sweden)

    Felician Alecu

    2013-09-01

    Full Text Available This paper summarizes the main options a digital content creator has in order to obtain money by online trading of digital works. There are multiple ways to get paid for the digital products, like licensing, for example, however this article tries to present the most successful business models targeting the online market. The exclusive rights stated by the copyright laws are helping the authors to maximize to potential advantages coming from their digital creations.

  20. Modern Maritime Trade Warfare

    Science.gov (United States)

    2013-05-20

    historically established method for conducting maritime trade warfare is Maritime Interdiction Operations ( MIO ). In the context of this paper, the...operating far from friendly shores. Accordingly, this tool would be most useful against nations with less capable navies. An advantage of MIO in...or collateral damage. 6 Large-scale MIO can be resource intensive and time consuming, and the U.S. Navy and Coast Guard have limited ships and

  1. Feasibility studies for the development of petroleum areas-integrated exploitation project of the fields in the area north of Santa Cruz. Volume 1. Text. Export trade information (Final)

    Energy Technology Data Exchange (ETDEWEB)

    1991-03-01

    The report, generated by Scientific Software-Intercomp, Inc. for Yacimientos Petroliferos Fiscales Bolivianos, documents the results of a feasibility study which addressed the viability of developing petroleum areas in Bolivia. The primary objective of the project was to describe the reservoirs that have been discovered and their reserves, describe which would be the best alternatives for development of these reservoirs, and to determine the best alternatives for development of all the reserves together. The report, volume 1 of 4, contains the main text which discusses: Objectives and Scope; Deliverables; Geology (Well Logs, Core Data, Dipmeters, Mudlogs, Database and Data Availability Problems, Procedure, Mapping, Results, Stratigraphic Considerations); and Petrophysics (Objectives, Database Preparation, Core Data Analysis, Log Normalization, Parameter Selection, Log Processing and Results, Reservoir Summation, Conclusions and Recommendations, Production Engineering, Reservoir Engineering and Simulation, Pipeline and Facilities Design, Economics).

  2. ACTIVITY-BASED COST ALLOCATION AND FUNCTION ANALYZES IN TRADE

    Directory of Open Access Journals (Sweden)

    TÜNDE VERES

    2011-01-01

    Full Text Available In this paper the author is thinking about the efficiency analyzes of trading. The most important evaluation factors of trade are the sales value, volume and the margin. Of course the easiest and fastest way is to follow the market situation by the turnover but for long term thinking the sales companies need to concentrate also for efficiency. Trading activity has some functions which can deeply effect for the final result and this is the reason to calculate their clear and reliable costs is an important condition of the decision making. The author reviews the cost categories and the basic functions in trading activity to find possible ways getting reliable information.

  3. Global trade and climate policy scenarios. Impact on Finland

    Energy Technology Data Exchange (ETDEWEB)

    Honkatukia, J.; Kaitila, V.; Kotilainen, M.; Niemi, J.

    2012-09-15

    In this study we use the dynamic version of the GTAP model to analyse the effects of global trade policy changes and their interaction with different global climate policy regimes from Finland's point of view, and in particular, implications for Finnish export sectors. Scenarios explore further trade liberalisation as well as effects of higher-than-current tariffs on world markets. As a complementary dimension we analyse the impact of a global climate agreement that will lead to an additional improvement in energy efficiency and impose limitations to GHG emissions. We find a general trend towards a greater weight of services sector in Finland's total exports volume, whilst the share of traditionally important heavy industry and electronics industries declines. These trends are amplified by further trade liberalisation and slowed down by new barriers for trade. The global coverage of climate policy is particularly significant for energy-intensive industries. (orig.)

  4. INTERNATIONAL TRADE WITH ONIONS

    Directory of Open Access Journals (Sweden)

    Radu Lucian PÂNZARU

    2013-01-01

    Full Text Available The paper refers to the global trade situation with onion, 2008-2010. Besides presenting the existing situation of the five units continents (Africa, America, Asia, Europe and Oceania study shows worldwide level of imports and exports, as well as its contribution to the performing acts of international exchange. Quantitative aspects of trade are filled with values data, that allowed the preparation of trade exchanges for this product. The main importer (in quantitative terms is represented by Asia, followed by Europe and at greater distance by the America, while the value of imports was dominated by operations performed in Europe, Asia and America - weights of 39.7 , 38.1 and 18.6% respective (of the world total. Concerning the quantity, the major players on the market exports are represented by Asia and Europe. They have dominated the world market, achieving 45.6 and respective 30.8% of world exports. America ranks third with a share of 17.4%. In terms of value, world exports were dominated by Asia, Europe and America (33.5, 32.7 and respective 26.7%, with a downward trend in the share of Asia and increasing European weights and American (compared to the specific situation of the quantities exported

  5. China-Indian Silk Trade: Current Production and Future Prospects

    Institute of Scientific and Technical Information of China (English)

    Liu Feng; Sun Shimin; Qiao Xianjuan

    2009-01-01

    As an important traditional labor-inteusive industry of both India and China, the cocoon silk industry has long made great contributions to the ecological environment protection, rural economic development and the increase in export income of both countries. India is not only a very important cocoon silk trading partner, but an important production competitor of China.In recent years, there has been a large increase in the production and trade of the cocoon silk between China and India; however,China relies heavily on Indian market, which leads to a tendency of further deterioration in the silk trade environment between both countries. The present article makes an empirical study of the cocoon silk resources of the two countries and the scale, product mix and market structure of China-Indian silk trade from 2001 to 2007. Overall silk trading volumes from China to India and market concentration rate are on the increase because of the superiority of Chinese cocoon silk production over that of India. Owing to scat-tered market share and export that mainly focused on raw materi-als product, there has been a phenomenon of price reduction and quantity increase. India carries out fierce competition with China in the international market and even imposes antidumping sanction on Chinese silk, which are key factors restricting further increase between China-India trade. Based on the abovementioned facts, the authors aim to put forward suggestions for steadily developing the production and trade of China's silk.

  6. India-U.K. Trade: A phenomenon of sliding scenario

    Directory of Open Access Journals (Sweden)

    Dr. S M Shafi

    2011-10-01

    Full Text Available Until 1973 when U.K., was not the member of European Community (now European Union , India’s trade was not geographically as diversified. This was purely due to the reason that India’s Trade was almost exclusively with U.K. Indian merchandise would find other destinations in the European continent only as re-exports from Britishers. India’s trade relations with U.K., are based upon long nourished relationship fostered during British rule in India with British East India Company as its promotor plateform. Based upon mutual trust between the trading communities of the two countries and facilitated with market opportunities, the relationship got further stronger even after India’s independence from Britain. However, with U.K. joining European Union, India’s trade started getting diversified and trade volumes with U.K started showing falling trends. The present paper traces out the behaviour of falling trade scenario with U.K.

  7. China to be Latin America's2nd largest trade partner in 2015

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    Xnhua reported that China will become Latin America's second largest trade partner as early as in 2015,the UN Economic Commission for Latin America and the Caribbean (ECLAC) said on September 8.Osvaldo Kacef,director of ECLAC's Economic Development Division,said the current China-Latin America trade volume has already reached that of Europe.

  8. The continental free trade area

    DEFF Research Database (Denmark)

    Sandrey, Ron; Jensen, Hans Grinsted

    non-tariff barriers, and time in transit costs). Our simulations for a Free Trade Agreement (FTA) with a selected group of African countries show that this is very much a second-best option, and the inclusion of most of the significant economies in Africa generates the best results. Only in the event......The Trade Law Centre (tralac) has recently capitalised upon the prerelease Version 9.2 of the Global Trade Analysis Project (GTAP) database and the recent excellent data sets from the World Bank and other publishing quality data on trade barriers across the African continent. It undertook a series...... of simulations examining regional integration and intra-African trade barrier reductions. The results for tariff elimination on intra-African trade are promising. But the real news is in confirming that these barriers are not as significant as the various trade-related barriers except for tariffs. Especially...

  9. Born Global Firms: A Foreign Trade Related Study on Turkey

    Directory of Open Access Journals (Sweden)

    Aytaç GÖKMEN

    2013-11-01

    Full Text Available With the comprehensive advent in information and communication technologies and worldwide ease of transportation, the volume of international trade and business increased profoundly. Within this process, a Born Global Firm (BGF, right from its initiation, aims at creating competitive advantage by marketing a large volume of its products in various international markets by utilizing technological advances. Therefore, the rational behind the idea of BGF is to become an international firm in a short period of time and making international business affairs core of its business activities. Thus, the aim of this study is to review the concept of BGF theoretically and relate the issue to foreign trade affairs resting on significant sources related to the Turkish case mainly focusing on trade statistics as to review the potential development of BGFs in Turkey.

  10. International red meat trade.

    Science.gov (United States)

    Brester, Gary W; Marsh, John M; Plain, Ronald L

    2003-07-01

    The maturation of the US beef and pork markets and increasing consumer demands for convenience, safety, and nutrition suggests that the beef and pork industries must focus on product development and promotion. New marketing arrangements are developing that help coordinate production with consumer demands. The relative high levels of incomes in the United States are likely to increase the demands for branded products rather than increase total per capita consumption. Foreign markets represent the greatest opportunity for increased demand for commodity beef and pork products. Increasing incomes in developing countries will likely allow consumers to increase consumption of animal-source proteins. Real prices of beef and pork have declined substantially because of sagging domestic demand and increasing farm-level production technologies. Increasing US beef and pork exports have obviated some of the price declines. Pork attained a net export position from a quantity perspective in 1995. The United States continues to be a net importer of beef on a quantity basis but is close to becoming a net exporter in terms of value. By-products continue to play a critical role in determining the red meat trade balance and producer prices. The United States, however, must continue to become cost, price, and quality competitive with other suppliers and must secure additional market access if it is to sustain recent trade trends. Several trade tensions remain in the red meat industry. For example, mandated COOL will undoubtedly have domestic and international effects on the beef and pork sectors. Domestically, uncertainty regarding consumer demand responses or quality perceptions regarding product origin, as well as added processor-retailer costs will be nontrivial. How these factors balance out in terms of benefits versus costs to the industry is uncertain. From an international perspective, some beef and pork export suppliers to the United States could view required labeling as a

  11. Production and trading of biomass for energy: an overview of the global status

    NARCIS (Netherlands)

    Heinimö, J.; Junginger, Martin

    2009-01-01

    The markets for industrially used biomass for energy purposes are developing rapidly toward being international commodity markets. Determining international traded biomass volumes for energy purposes is difficult, for several reasons, such as challenges regarding the compilation of statistics on the

  12. Production, prices, employment, and trade in Northwest forest industries, first quarter 1989.

    Science.gov (United States)

    Debra D. Warren

    1989-01-01

    Provides current information on lumber and plywood production and prices; employment in the forest industries; international trade in logs, lumber, and plywood; volume and average prices of stumpage sold by public agencies; and other related items.

  13. Production, prices, employment, and trade in Northwest forest industries, fourth quarter 1992.

    Science.gov (United States)

    Debra D. Warren

    1993-01-01

    Provides current information on lumber and plywood production and prices; employment in the forest industries; international trade in logs, lumber, and plywood; volume and average prices of stumpage sold by public agencies; and other related items.

  14. Production and trading of biomass for energy: an overview of the global status

    NARCIS (Netherlands)

    Heinimö, J.; Junginger, Martin

    2009-01-01

    The markets for industrially used biomass for energy purposes are developing rapidly toward being international commodity markets. Determining international traded biomass volumes for energy purposes is difficult, for several reasons, such as challenges regarding the compilation of statistics on the

  15. Strategic importance of green water in international crop trade

    NARCIS (Netherlands)

    Aldaya, M.M.; Allan, J.A.; Hoekstra, A.Y.

    2010-01-01

    Virtual water is the volume of water used to produce a commodity or service. Hitherto, most virtual water 'trade' studies have focused on its potential contribution to saving water, especially in water short regions. Very little, however, has been said about the opportunity cost of the associated wa

  16. Examination of forest products trade between Turkey and European ...

    African Journals Online (AJOL)

    USER

    2010-04-19

    Apr 19, 2010 ... effect; and Turkey has lower trading volume with the EU countries than its potential regarding the ... population of the world and globalization tendency. .... model; and, as a prior, α is positive whereas β is negative (Karagöz,.

  17. Section I: Basic Electricity. Syllabus in Trade Electricity-Electronics.

    Science.gov (United States)

    New York State Education Dept., Albany. Bureau of Occupational and Career Curriculum Development.

    This section describes the first of a three part curriculum in trade electricity-electronics (each part is described in a separate volume). It presents a unit of 6 to 10 weeks duration which develops only those competencies necessary to all electricity or electronics employment. A flow chart indicates how an individual student's program can be…

  18. Strategic importance of green water in international crop trade

    NARCIS (Netherlands)

    Martinez-Aldaya, Maite; Allan, J.A.; Hoekstra, Arjen Ysbert

    2010-01-01

    Virtual water is the volume of water used to produce a commodity or service. Hitherto, most virtual water 'trade' studies have focused on its potential contribution to saving water, especially in water short regions. Very little, however, has been said about the opportunity cost of the associated

  19. Energy and air emissions embodied in China-U.S. trade: eastbound assessment using adjusted bilateral trade data.

    Science.gov (United States)

    Xu, Ming; Allenby, Braden; Chen, Weiqiang

    2009-05-01

    It is critical to understand environmental impacts embodied in the bilateral trade between China and the United States, given the political, economic, and geographical importance of the two countries and the fact that few studies have investigated this before. This article studies the environmental impacts, particularly energy consumption and air emissions, embodied in the eastbound (from China to the U.S.) trade from 2002 to 2007 using an environmental input-output analysis technique and the adjusted bilateral trade data. In general,trade volume increased until the panic of 2008, and shifting trade patterns cause fluctuating embodied energy and air emissions in trade in China. Results show that embodied energy ranges from 7 to 11 exajoule (EJ) and takes about 12-17% of China's energy consumption. Embodied CO2 ranges between 400 and 800 Mt and represents about 8-12% of China's CO2 emissions. SO2 and NOx embodied in the eastbound trade generally grow over this period, from 4.2 to 6.3 Mt and from 1.4 to 2.9 Mt and account for 10-15% and 8-12% of China's total emissions, respectively.

  20. Does human migration affect international trade? A complex-network perspective.

    Directory of Open Access Journals (Sweden)

    Giorgio Fagiolo

    Full Text Available This paper explores the relationships between international human migration and merchandise trade, using a complex-network approach. We firstly compare the topological structure of worldwide networks of human migration and bilateral trade over the period 1960-2000. Next, we ask whether the position of any pair of countries in the migration network affects their bilateral trade flows. We show that: (i both weighted and binary versions of the networks of international migration and trade are strongly correlated; (ii such correlations can be mostly explained by country economic/demographic size and geographical distance; and (iii pairs of countries that are more central in the international-migration network trade more. Our findings suggest that bilateral trade between any two countries is not only affected by the presence of migrants from either countries but also by their relative embeddedness in the complex web of corridors making up the network of international human migration.

  1. Does human migration affect international trade? A complex-network perspective.

    Science.gov (United States)

    Fagiolo, Giorgio; Mastrorillo, Marina

    2014-01-01

    This paper explores the relationships between international human migration and merchandise trade, using a complex-network approach. We firstly compare the topological structure of worldwide networks of human migration and bilateral trade over the period 1960-2000. Next, we ask whether the position of any pair of countries in the migration network affects their bilateral trade flows. We show that: (i) both weighted and binary versions of the networks of international migration and trade are strongly correlated; (ii) such correlations can be mostly explained by country economic/demographic size and geographical distance; and (iii) pairs of countries that are more central in the international-migration network trade more. Our findings suggest that bilateral trade between any two countries is not only affected by the presence of migrants from either countries but also by their relative embeddedness in the complex web of corridors making up the network of international human migration.

  2. Trade and migration: the case of NAFTA.

    Science.gov (United States)

    Martin, P L

    1993-01-01

    "This article provides background information on NAFTA [the North American Free Trade Agreement], reviews data on its economic effects, and summarizes studies and projections of NAFTA's likely effects on Mexico-to-U.S. migration. Migration factors (demand-pull, supply-push, and networks) are examined to determine whether NAFTA's effect on economic development particularly in the border areas will accelerate or retard migration. The conclusion is that NAFTA is likely to produce a temporary migration hump, slightly raising already high migration levels in the 1990s, but reducing the volume of Mexico-to-U.S. migration that would otherwise occur over subsequent decades." excerpt

  3. Memoir and Scientific Correspondence of the Late Sir George Gabriel Stokes, Bart. 2 Volume Paperback Set

    Science.gov (United States)

    Stokes, George Gabriel; Larmor, Joseph

    2010-06-01

    Volume 1: Preface; Part I. Personal and Biographical; Part II. General Scientific Career; Part IIIa. Special Scientific Correspondence; Appendix; Index. Volume 2: Part. III. Special Scientific Correspondence; Index.

  4. Spread, volatility, and volume relationship in financial markets and market making profit optimization

    OpenAIRE

    Sarkissian, Jack

    2016-01-01

    We study the relationship between price spread, volatility and trading volume. We find that spread forms as a result of interplay between order liquidity and order impact. When trading volume is small adding more liquidity helps improve price accuracy and reduce spread, but after some point additional liquidity begins to deteriorate price. The model allows to connect the bid-ask spread and high-low bars to measurable microstructural parameters and express their dependence on trading volume, v...

  5. Trade Policy Preferences and the Factor Content of Trade

    DEFF Research Database (Denmark)

    Jäkel, Ina Charlotte; Smolka, Marcel

    This paper provides a theoretical and empirical analysis of public opinion towards free trade, investigating cleavages both between and within countries. We study the distributional effects of trade policy in a neoclassical economy with not just two, but many input factors in production. We...... demonstrate that the factor price changes induced by trade policy are negatively correlated with the factor content of free trade (and therefore factor abundance). Using large-scale international survey data, we test whether these predicted distributional effects are reflected in the trade policy preferences...... of workers with different labor market skills. In order to isolate the effects of factor abundance from other skill-related confounding factors, we employ a within-skill-group estimator that exploits the cross-country variation in the factor content of free trade. In line with theory, the data show...

  6. Four essays in international trade: Trade flows in food products

    OpenAIRE

    Straume, Hans-Martin

    2015-01-01

    This thesis consists of four essays within the field of international trade economics, as well as an introduction chapter. All four papers are empirical studies of trade flows in food products using transaction data. The first chapter introduces the data used in the papers, and provides a brief review of the general literature. During the last decades, the focus in international economics has shifted from studies of trade flows using aggregated data to studies of firm behavior. Historic...

  7. Bilateral trade agreements and the feasibility of multilateral free trade

    OpenAIRE

    Saggi, Kamal; Yildiz, Halis Murat

    2008-01-01

    This paper compares stable Nash equilibria of two games of trade liberalization. In the FTA game, each country can form an FTA with either one of its trade partners, or both of them, or none of them. By contrast, in the No FTA game, each country must choose either no agreement or free trade. Under symmetry, free trade is uniquely stable under the No FTA game whereas the FTA game also admits a bilateral FTA as an equilibrium. However, there exist patterns of cost asymmetry for which the freedo...

  8. International Emission Trading Systems: Trade Level and Political Acceptability

    DEFF Research Database (Denmark)

    Boom, J-T.; Svendsen, Gert Tinggaard

    1999-01-01

    The Kyoto Protocol of December 1997 allows emission trade between countries that have committed themselves to an emission ceiling. This paper considers two schemes of emission trading: trade between governments and trade between emission sources. The two schemes are analyzed and the strengths...... and weaknesses of the two schemes are compared in a public choice setting which focuses on group size, selective incentives, entrepreneurship and lobbyism from industry. The result is threefold. First, the big countries (due to small group advantages) dominated the Kyoto negotiations. Second...

  9. Bilateral trade agreements and the feasibility of multilateral free trade

    OpenAIRE

    SAGGI, Kamal; Yildiz, Halis Murat

    2008-01-01

    This paper compares stable Nash equilibria of two games of trade liberalization. In the FTA game, each country can form an FTA with either one of its trade partners, or both of them, or none of them. By contrast, in the No FTA game, each country must choose either no agreement or free trade. Under symmetry, free trade is uniquely stable under the No FTA game whereas the FTA game also admits a bilateral FTA as an equilibrium. However, there exist patterns of cost asymmetry for which the freedo...

  10. Act locally, trade globally. Emissions trading for climate policy

    Energy Technology Data Exchange (ETDEWEB)

    none

    2005-07-01

    Climate policy raises a number of challenges for the energy sector, the most significant being the transition from a high to a low-CO2 energy path in a few decades. Emissions trading has become the instrument of choice to help manage the cost of this transition, whether used at international or at domestic level. Act Locally, Trade Globally, offers an overview of existing trading systems, their mechanisms, and looks into the future of the instrument for limiting greenhouse gas emissions. Are current markets likely to be as efficient as the theory predicts? What is, if any, the role of governments in these markets? Can domestic emissions trading systems be broadened to activities other than large stationary energy uses? Can international emissions trading accommodate potentially diverse types of emissions targets and widely different energy realities across countries? Are there hurdles to linking emissions trading systems based on various design features? Can emissions trading carry the entire burden of climate policy, or will other policy instruments remain necessary? In answering these questions, Act Locally, Trade Globally seeks to provide a complete picture of the future role of emissions trading in climate policy and the energy sector.

  11. 77 FR 50617 - Pesticide Tolerance Crop Grouping Program III; Revisions to General Tolerance Regulations

    Science.gov (United States)

    2012-08-22

    ... American Pistachio Growers trade association. III. Response to Comments In this section, EPA describes the... profitable minor crop. For these reasons, EPA concludes it would be appropriate to include Chinese jujube as.... EPA received one comment from the American Pistachio Growers trade association that supported...

  12. Evolution of Trading strategies

    Science.gov (United States)

    Vicente, Javier

    2007-03-01

    We attempt to classify the trading strategies of agents in the London Stock Exchange into broad categories. Our study is based on that that identifies the member of the exchange associated with each transaction. Based on the evolution of the inventory (holdings of the stock) as a function of time, we use clustering methods to classify the strategies into several groups. We study how these groups evolve in time and attempt to correlate the membership of the groups with other market properties, such as price volatility.

  13. Trading in Risk Dimensions (TRD)

    CERN Document Server

    Ingber, Lester

    2007-01-01

    Previous work, mostly published, developed two-shell recursive trading systems. An inner-shell of Canonical Momenta Indicators (CMI) is adaptively fit to incoming market data. A parameterized trading-rule outer-shell uses the global optimization code Adaptive Simulated Annealing (ASA) to fit the trading system to historical data. A simple fitting algorithm, usually not requiring ASA, is used for the inner-shell fit. An additional risk-management middle-shell has been added to create a three-shell recursive optimization/sampling/fitting algorithm. Portfolio-level distributions of copula-transformed multivariate distributions (with constituent markets possessing different marginal distributions in returns space) are generated by Monte Carlo samplings. ASA is used to importance-sample weightings of these markets. The core code, Trading in Risk Dimensions (TRD), processes Training and Testing trading systems on historical data, and consistently interacts with RealTime trading platforms at minute resolutions, but ...

  14. Trade policy and public health.

    Science.gov (United States)

    Friel, Sharon; Hattersley, Libby; Townsend, Ruth

    2015-03-18

    Twenty-first-century trade policy is complex and affects society and population health in direct and indirect ways. Without doubt, trade policy influences the distribution of power, money, and resources between and within countries, which in turn affects the natural environment; people's daily living conditions; and the local availability, quality, affordability, and desirability of products (e.g., food, tobacco, alcohol, and health care); it also affects individuals' enjoyment of the highest attainable standard of health. In this article, we provide an overview of the modern global trade environment, illustrate the pathways between trade and health, and explore the emerging twenty-first-century trade policy landscape and its implications for health and health equity. We conclude with a call for more interdisciplinary research that embraces complexity theory and systems science as well as the political economy of health and that includes monitoring and evaluation of the impact of trade agreements on health.

  15. Timing of accounting information disclosure and informed trading——An empirical study on the time gap between annual and 1st quarterly financial reports and extra abnormal trading volume%会计信息披露实际与内幕交易——基于年报首季披露时差与异常超额交易量的实证研究

    Institute of Scientific and Technical Information of China (English)

    薛爽; 蒋义宏

    2009-01-01

    考虑到资金成本、市场的系统性风险和被监管的可能性,内幕交易者最可能利用两个相隔时间很短的定期报告进行内幕交易.因为这种交易模式最隐蔽,最安全.同时,因承担了高成本和高风险,内幕交易需要巨额的交易量才能获得超额收益.利用内幕交易的这些特征,找到了极好的研究样本(年报亏损下年首季报盈利且年报首季报先后公布的样本)和控制样本(年报亏损下年首季报盈利但年报首季报同时披露的样本或者年报亏损下年首季报仍然亏损且年报首季报先后公布的样本),通过异常的超额交易量验证了内幕交易的存在.研究表明,在信息披露监管政策中,不仅要考虑信息披露的及时性和充分性,还应考虑信息披露过程是否为内幕交易提供了可乘之机.%Considering the cost of capital,systematic risk and the probability of being monitored and punished,informed traders are most likely to conduct informed trading at the small time gap between the disclosure of annual report of year t and 1st quarter reports of year t+1 because the gap is the best and safest time for informed trading.Meanwhile,due to the high cost and risks of informed trading,traders need huge trading volumes to gain abnormal returns.Based on these characteristics of informed trading,a research sample and a control sample are found for this paper.The former refers to companies with loss annual report in year t and profit-making 1st quarter financial report in year t+1 in tandem.The latter refers to companies announced loss in the previous year and and profit-making 1st quarter financial report in year t+1 simultaneously or companies with loss annual report in the year t and loss 1st quarter financial report in year t+1 in tandem.Results confirm the existence of informed trading by measuring "extra abnormal trading volume".Therefore,authors suggest that a good disclosure policy should not only consider the timeliness

  16. Economic, social and resource management factors influencing groundwater trade: Evidence from Victoria, Australia

    Science.gov (United States)

    Gill, Bruce; Webb, John; Stott, Kerry; Cheng, Xiang; Wilkinson, Roger; Cossens, Brendan

    2017-07-01

    In Victoria, Australia, most groundwater resources are now fully allocated and opportunities for new groundwater development can only occur through trading of license entitlements. Groundwater usage has rarely exceeded 50% of the available licensed volume, even in the 2008/9 drought year, and 50 to 70% of individual license holders use less than 5% of their allocation each year. However, little groundwater trading is occurring at present. Interviews were conducted with groundwater license holders and water brokers to investigate why the Victorian groundwater trade market is underdeveloped. Responses show there is a complex mix of social, economic, institutional and technical reasons. Barriers to trade are influenced by the circumstances of each groundwater user, administrative process and resource management rules. Water brokers deal with few trades at low margins and noted unrealistic selling prices and administrative difficulties. Irrigators who have successfully traded identify that there are few participants in trading, technical appraisals are expensive and administrative requirements and fees are burdensome, especially when compared to surface water trading. Opportunities to facilitate trade include groundwater management plan refinement and improved information provision. Simplifying transaction processes and costs, demonstrating good resource stewardship and preventing third party impacts from trade could address some concerns raised by market participants. There are, however, numerous individual circumstances that inhibit groundwater trading, so it is unlikely that policy and process changes alone could increase usage rates without greater demand for groundwater or more favourable farming economic circumstances.

  17. Intermediation in Foreign Trade: When do Exporters Rely on Intermediaries?

    DEFF Research Database (Denmark)

    Schröder, Philipp J.H.; Trabold, H.; Trübswetter, P.

    2005-01-01

    The paper explores the question of why trade intermediaries (TIs) are frequently used as agents for exports to some countries but not to others. First, we adapt a standard intra-industry trade model with variable export costs (e.g. transport) and fixed export costs (e.g. market access) to include...... a TI that is able to pool market access cost. This framework suggests explanatory factors for the TI share in a country's exports, which are largely in line with the literature. Second, we test these explanatory factors with a new data set based on French customs information. The paper finds that: (i......) higher market access costs increase the TI share, (ii) smaller export markets feature a larger TI share, (iii) network effects are important determinants of trade intermediation....

  18. Developments in the emissions trading market 2009; Utvecklingen paa utslaeppsraettsmarknaden 2009

    Energy Technology Data Exchange (ETDEWEB)

    Bohnstedt, Sophie; Karlberg, Marie; Myrman, Johanna

    2010-07-01

    The Energy Agency has analyzed the development of emissions trading within the EU and globally in 2009. The analysis relates to larger events which mainly affected the prices and traded volumes during the year. The analysis includes the market for European emissions, markets for the project-based mechanisms, development of trade with the assigned emission units (AAUs), the unregulated market and developments in other trading in the world. The report is based on existing studies and monitoring of markets development during January to November 2009

  19. Climate Change Creates Trade Opportunity in India

    OpenAIRE

    Dinda, Soumyananda

    2013-01-01

    Climate change is an emerging challenge to developing economy like India however it also creates opportunity to grow through climate friendly goods production and new direction of trade. This paper focuses India’s potential export trade in climate friendly goods. The estimated gravity model is defined as the potential trade and potential trade gap is measured as how well a bilateral trade flow performs relative to the mean as predicted by the model. Potential trade gap means that actual trade...

  20. Culture of Schools. Final Report. Volume IV.

    Science.gov (United States)

    American Anthropological Association, Washington, DC.

    The final volume of this 4-volume report contains further selections from "Anthropological Perspectives on Education," a monograph to be published by Basic Books of New York. (Other selections are in Vol. III, SP 003 902.) Monograph selections appearing in this volume are: "Great Tradition, Little Tradition, and Formal Education;""Indians,…

  1. Currency union entries and trade

    OpenAIRE

    Nitsch, Volker

    2005-01-01

    Recent research suggests that adopting a common currency increases bilateral trade. In this paper, I explore experiences of currency union entry in the post-war period and find no effect on trade. Previous results derived from a large panel data set (covering more than 200 countries from 1948 through 1997) appear to depend crucially on the assumption of symmetry between currency union exits and entries: While countries leaving a currency union experience significant declines in trade, currenc...

  2. Fixed Exchange Rates and Trade

    OpenAIRE

    Michael W. Klein; Jay C. Shambaugh

    2004-01-01

    A classic argument for a fixed exchange rate is its promotion of trade. Empirical support for this, however, is mixed. While one branch of research consistently shows a small negative effect of exchange rate volatility on trade, another, more recent, branch presents evidence of a large positive impact of currency unions on trade. This paper helps resolve this disconnect. Our results, which use a new data-based classification of fixed exchange rate regimes, show a large, significant effect of ...

  3. The Decade of Trade Expansion

    Institute of Scientific and Technical Information of China (English)

    Yu Nan

    2011-01-01

    IT is a well-known saying that whenever the United States sneezes,the world is sure to catch a cold.However,this analogy now seems more appropriate for the economic might of China.This year marks the 10th anniversary of China's accession to the World Trade Organization (WTO).The nation has gone from being relatively isolated from international trade standards and regulations,to meeting requirements for full participation in world trade.

  4. Sensitivity and specificity of WAIS-III/WMS-III demographically corrected factor scores in neuropsychological assessment.

    Science.gov (United States)

    Taylor, M J; Heaton, R K

    2001-11-01

    This study explored the neurodiagnostic utility of 6 factor scores identified by recent exploratory and confirmatory factor analyses of the WAIS-III and WMS-III: Verbal Comprehension, Perceptual Organization, Processing Speed, Working Memory, Auditory Memory and Visual Memory. Factor scores were corrected for age. education, sex and ethnicity to minimize their influences on diagnostic accuracy. Cut-offs at 1, 1.5 and 2 standard deviations (SDs) below the standardization sample mean were applied to data from the overlapping test normative samples (N = 1073) and 6 clinical samples described in the WAIS-III/WMS-III Technical Manual (N = 126). The analyses suggest that a I SD cut-off yields the most balanced levels of sensitivity and specificity; more strict (1.5 or 2 SD) cut-offs generally result in trading modest gains in specificity for larger losses in sensitivity. Finally, using combinations of WAIS-III/WMS-III factors together as test batteries, we explored the sensitivity and specificity implications of varying diagnostic decision rules (e.g.,1 vs. 2 impaired factors = "impairment"). For most of the disorders considered here, even a small (e.g., 3 factor) WAIS-III/WMS-III battery provides quite good overall diagnostic accuracy.

  5. Trade Relationship between Oman and Its Major Trading Asian Partners

    Directory of Open Access Journals (Sweden)

    Abdusalam F. Yahia

    2010-01-01

    Full Text Available Problem statement: No empirical research exists that examines the interdependence of trade between Oman and its five major trading Asian partners (Emirates, Japan, South-Korea, Thailand and Mainland China. This study attempted to fill this gap in the literature by examining the interaction of trade between Oman and its major trading Asian partner. Particularly, this study attempted to answer the very important question that is there any feedback effect of the trade relationship between Oman and its major trading Asian partners. Approach: A simultaneous-equations model with a double-log form was developed and tested in this study in order to achieve its objectives. Results: The model was estimated using the Two Stage Least Square (2SLS procedure of estimation and the main findings of the analysis revealed that the price of oil does not seem to be the major determinant of Omani exports to its major trading partners with exception of Japan. The short-term elasticity of Omani imports from its major trading partners with respect to its income seems to be higher (e.g., ranging from 0.55-2.0 in all cases. Conclusion: This study brought new empirical evidence on the trade interdependence and suggested that there is a significant impact (a feedback effect on the level of GDP of Omani's four major trading partners namely Emirates, Japan and South Korea. Therefore, policy maker in sultanate of Oman should be aware of such interdependence and consider the degree of feedback effect of trade in any economic programming that linked and related to these countries.

  6. Free trade in pharmaceuticals.

    Science.gov (United States)

    Outterson, M Kevin

    2004-09-06

    Provisions in the Australia-United States Free Trade Agreement (AUSFTA) may threaten the Australian Pharmaceutical Benefits Scheme (PBS), the "gold standard" of such programs worldwide. If Australia postpones passing of the US Free Trade Agreement Implementation Bill in the Senate, there will be opportunity for broader interests in both the United States and Australia to carefully study the agreement. The provisions of AUSFTA relating to the PBS are supposed to promote transparency, but the pharmaceutical manufacturers themselves (who are demanding transparency) do not reveal the content of their submissions to the Pharmaceutical Benefits Advisory Committee, or disclose all their financial relationships with researchers and policymakers. In AUSFTA, the "public health" language of affordable prescription drugs is missing and is replaced by language supporting "pharmaceutical innovation". Debate as to whether AUSFTA will force significant changes to the PBS, including higher drug prices, is currently under way in Australia. Perhaps the appropriate target of reforms should be the excessive US drug prices, and not the economically efficient Australian drug prices.

  7. Melting ice, growing trade?

    Directory of Open Access Journals (Sweden)

    Sami Bensassi

    2016-05-01

    Full Text Available Abstract Large reductions in Arctic sea ice, most notably in summer, coupled with growing interest in Arctic shipping and resource exploitation have renewed interest in the economic potential of the Northern Sea Route (NSR. Two key constraints on the future viability of the NSR pertain to bathymetry and the future evolution of the sea ice cover. Climate model projections of future sea ice conditions throughout the rest of the century suggest that even under the most “aggressive” emission scenario, increases in international trade between Europe and Asia will be very low. The large inter-annual variability of weather and sea ice conditions in the route, the Russian toll imposed for transiting the NSR, together with high insurance costs and scarce loading/unloading opportunities, limit the use of the NSR. We show that even if these obstacles are removed, the duration of the opening of the NSR over the course of the century is not long enough to offer a consequent boost to international trade at the macroeconomic level.

  8. Market Size, Trade, and Productivity

    OpenAIRE

    Ottaviano, Gianmarco; Melitz, Marc

    2005-01-01

    We develop a monopolistically competitive model of trade with firm heterogeneity—in terms of productivity differences—and endogenous differences in the "toughness" of competition across markets—in terms of the number and average productivity of competing firms. We analyse how these features vary across markets of different size that are not perfectly integrated through trade; we then study the effects of different trade liberalization policies. In our model, market size and trade affect...

  9. Biclustering Learning of Trading Rules.

    Science.gov (United States)

    Huang, Qinghua; Wang, Ting; Tao, Dacheng; Li, Xuelong

    2015-10-01

    Technical analysis with numerous indicators and patterns has been regarded as important evidence for making trading decisions in financial markets. However, it is extremely difficult for investors to find useful trading rules based on numerous technical indicators. This paper innovatively proposes the use of biclustering mining to discover effective technical trading patterns that contain a combination of indicators from historical financial data series. This is the first attempt to use biclustering algorithm on trading data. The mined patterns are regarded as trading rules and can be classified as three trading actions (i.e., the buy, the sell, and no-action signals) with respect to the maximum support. A modified K nearest neighborhood ( K -NN) method is applied to classification of trading days in the testing period. The proposed method [called biclustering algorithm and the K nearest neighbor (BIC- K -NN)] was implemented on four historical datasets and the average performance was compared with the conventional buy-and-hold strategy and three previously reported intelligent trading systems. Experimental results demonstrate that the proposed trading system outperforms its counterparts and will be useful for investment in various financial markets.

  10. III-V semiconductor materials and devices

    CERN Document Server

    Malik, R J

    1989-01-01

    The main emphasis of this volume is on III-V semiconductor epitaxial and bulk crystal growth techniques. Chapters are also included on material characterization and ion implantation. In order to put these growth techniques into perspective a thorough review of the physics and technology of III-V devices is presented. This is the first book of its kind to discuss the theory of the various crystal growth techniques in relation to their advantages and limitations for use in III-V semiconductor devices.

  11. Human Factors in Financial Trading: An Analysis of Trading Incidents.

    Science.gov (United States)

    Leaver, Meghan; Reader, Tom W

    2016-09-01

    This study tests the reliability of a system (FINANS) to collect and analyze incident reports in the financial trading domain and is guided by a human factors taxonomy used to describe error in the trading domain. Research indicates the utility of applying human factors theory to understand error in finance, yet empirical research is lacking. We report on the development of the first system for capturing and analyzing human factors-related issues in operational trading incidents. In the first study, 20 incidents are analyzed by an expert user group against a referent standard to establish the reliability of FINANS. In the second study, 750 incidents are analyzed using distribution, mean, pathway, and associative analysis to describe the data. Kappa scores indicate that categories within FINANS can be reliably used to identify and extract data on human factors-related problems underlying trading incidents. Approximately 1% of trades (n = 750) lead to an incident. Slip/lapse (61%), situation awareness (51%), and teamwork (40%) were found to be the most common problems underlying incidents. For the most serious incidents, problems in situation awareness and teamwork were most common. We show that (a) experts in the trading domain can reliably and accurately code human factors in incidents, (b) 1% of trades incur error, and (c) poor teamwork skills and situation awareness underpin the most critical incidents. This research provides data crucial for ameliorating risk within financial trading organizations, with implications for regulation and policy. © 2016, Human Factors and Ergonomics Society.

  12. DEVELOPMENT STAGE OF RETAIL TRADE IN THE EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    Catana Adina

    2012-07-01

    Full Text Available According to Karel De Gucht, Trade Commissioner from the European Commission, trade is working for Europe's economic recovery by ensuring growth and jobs. The European renewed trade strategy will open markets and connect Europe to the main sources and regis of global growth. The aim is to ensure that European business gets a fair deal and that countries’ rights are respected so that all can enjoy the benefits of trade. Thanks to the ease of modern transport and communications, it is now easier to produce, buy and sell goods around the world which gives European companies of every size the potential to trade outside Europe. This paper’s objective is to analyse the development stage of the European Union’s retail, and its member countries. The study is based on the research taken in the project of PhD research with the theme: The impacts of Economic Integration on Romanian Retail. For my research I used data from Eurostat, National Statistical Institute, European Union official website In the past 10 years, the volume of retail trade in EU member states has increased, but the extent of the changes varies substantially from one country to another.

  13. Beyond trade: the expanding scope of the non-trade agenda in trade agreements

    OpenAIRE

    Milewicz, KM; Hollway, J; Peacock, C; Snidal, D

    2016-01-01

    Increased complexity and density of transnational problems creates unprecedented challenges and opportunities for contemporary international governance. ‘Issue linkage’ is one institutional arrangement through which states address these chang- ing circumstances. In this paper, we examine the widening scope of the non-trade agenda in Preferential Trade Agreements (PTAs). Non-trade issues (NTIs) such as human rights, democracy, environment, corruption and labor standards are increasingly l...

  14. The ASEAN Free Trade Agreement: impact on trade flows and external trade barriers

    OpenAIRE

    Calvo-Pardo, Hector; Freund, Caroline; Ornelas, Emanuel

    2009-01-01

    Using detailed data on trade and tariffs from 1992-2007, we examine how the ASEAN Free Trade Agreement has affected trade with non-members and external tariffs facing non-members. First, we examine the effect of preferential and external tariff reduction on import growth from ASEAN insiders and outsiders across HS 6-digit industries. We find no evidence that preferential liberalization has led to lower import growth from non-members. Second, we examine the relationship between preferential ta...

  15. The transition to electronic trading in the secondary treasury market

    OpenAIRE

    Mizrach, Bruce; Neely, Christopher J.

    2006-01-01

    This article reviews the history of the recent shift to electronic trading in equity, foreign ex- change and fixed-income markets. We analyze a new data set: the eSpeed (Cantor Fitzgerald) electronic Treasury network. We contrast the market microstructure of eSpeed with the tradi- tional voice assisted networks that report through GovPX. The electronic market (eSpeed) has greater volume, smaller spreads and a lower estimated impact of a trade than the voice market (GovPX).

  16. Large-Scale Trade in Legally Protected Marine Mollusc Shells from Java and Bali, Indonesia.

    Science.gov (United States)

    Nijman, Vincent; Spaan, Denise; Nekaris, K Anne-Isola

    2015-01-01

    Tropical marine molluscs are traded globally. Larger species with slow life histories are under threat from over-exploitation. We report on the trade in protected marine mollusc shells in and from Java and Bali, Indonesia. Since 1987 twelve species of marine molluscs are protected under Indonesian law to shield them from overexploitation. Despite this protection they are traded openly in large volumes. We collected data on species composition, origins, volumes and prices at two large open markets (2013), collected data from wholesale traders (2013), and compiled seizure data by the Indonesian authorities (2008-2013). All twelve protected species were observed in trade. Smaller species were traded for Java and Bali, but the trade involves networks stretching hundreds of kilometres throughout Indonesia. Wholesale traders offer protected marine mollusc shells for the export market by the container or by the metric ton. Data from 20 confiscated shipments show an on-going trade in these molluscs. Over 42,000 shells were seized over a 5-year period, with a retail value of USD700,000 within Indonesia; horned helmet (Cassis cornuta) (>32,000 shells valued at USD500,000), chambered nautilus (Nautilus pompilius) (>3,000 shells, USD60,000) and giant clams (Tridacna spp.) (>2,000 shells, USD45,000) were traded in largest volumes. Two-thirds of this trade was destined for international markets, including in the USA and Asia-Pacific region. We demonstrated that the trade in protected marine mollusc shells in Indonesia is not controlled nor monitored, that it involves large volumes, and that networks of shell collectors, traders, middlemen and exporters span the globe. This impedes protection of these species on the ground and calls into question the effectiveness of protected species management in Indonesia; solutions are unlikely to be found only in Indonesia and must involve the cooperation of importing countries.

  17. Modelling Trade and Trust Across Cultures

    NARCIS (Netherlands)

    Hofstede, G.J.; Jonker, C.M.; Meijer, S.; Verwaart, D.

    2006-01-01

    Misunderstandings arise in international trade due to difference in cultural background of trade partners. Trust and the role it plays in trade are influenced by culture. Considering that trade always involves working on the relationship with the trade partner, understanding the behaviour of the oth

  18. Trade costs in empirical New Economic Geography

    NARCIS (Netherlands)

    Bosker, E.M.; Garretsen, J.H.

    Trade costs are a crucial element of New Economic Geography (NEG) models. Without trade costs there is no role for geography. In empirical NEG studies the unavailability of direct trade cost data calls for the need to approximate these trade costs by introducing a trade cost function. In doing so,

  19. 15 CFR 400.45 - Retail trade.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 2 2010-01-01 2010-01-01 false Retail trade. 400.45 Section 400.45... Administrative Requirements § 400.45 Retail trade. (a) In general. Retail trade is prohibited in zones, except... retail trade, subject to review by the Board when the zone grantee requests such a review with a...

  20. 40 CFR 90.206 - Trading.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 20 2010-07-01 2010-07-01 false Trading. 90.206 Section 90.206... Trading Provisions § 90.206 Trading. (a) An engine manufacturer may exchange emission credits with other engine manufacturers in trading, subject to the trading restriction specified in § 90.207(c)(2)....

  1. Trade Openness and Inequality

    Directory of Open Access Journals (Sweden)

    Nasfi Fkili Wahiba

    2013-12-01

    Full Text Available This paper is intended to test the effect of trade openness on inequality of wage distribution in Tunisia. The study through econometric estimates showed that the impact of openness on inequality is remarkable in the period marked by an intensive integration into the global economy. However, investment in human capital can have a positive effect and leas to reduce wage disparities. Opening to the world economy is able to achieve positive economic performance, except that one of the challenges for Tunisia is to find the best equilibrium between the benefits and costs of this policy. Globalization can be beneficial for the economy, but the debate is open about its impact on the social level, many are those who accuse it of increasing disparities and inequalities between workers.

  2. Is Corruption Detrimental to Trade?

    NARCIS (Netherlands)

    Jong, E. de; Udo, E.

    2006-01-01

    Many regard corruption to be detrimental to international trade. Some, however, think that corruption greases commerce in case of low-quality institutions. Others argue that arbitrary corruption is more damaging to trade than predictable corruption. This is the first paper to test these hypotheses

  3. Extension Resources for International Trade

    Science.gov (United States)

    Seal, Susan D.

    2016-01-01

    With the opening of additional trade partnerships, the reduction of global transportation and communication costs, and the increase in demand for U.S. agricultural products and services, international trade is an area of great importance to more and more Extension clients and stakeholders. This article provides information about the primary…

  4. Is Corruption Detrimental to Trade?

    NARCIS (Netherlands)

    Jong, E. de; Udo, E.

    2006-01-01

    Many regard corruption to be detrimental to international trade. Some, however, think that corruption greases commerce in case of low-quality institutions. Others argue that arbitrary corruption is more damaging to trade than predictable corruption. This is the first paper to test these hypotheses e

  5. Implementing an Agent Trade Server

    OpenAIRE

    Boman, Magnus; Sandin, Anna

    2003-01-01

    An experimental server for stock trading autonomous agents is presented and made available, together with an agent shell for swift development. The server, written in Java, was implemented as proof-of-concept for an agent trade server for a real financial exchange.

  6. Takeover bids and insider trading

    NARCIS (Netherlands)

    Nelemans, Matthijs; Bainbridge, Stephen M.

    2014-01-01

    This paper analyses the law and economics of insider trading in the context of takeover bids, focusing on the European regulatory framework. We distinguish between trading by the bidder, by the target and by classical insiders and first address the issue of precisely when information about potential

  7. Human Factors in Financial Trading

    Science.gov (United States)

    Leaver, Meghan; Reader, Tom W.

    2016-01-01

    Objective This study tests the reliability of a system (FINANS) to collect and analyze incident reports in the financial trading domain and is guided by a human factors taxonomy used to describe error in the trading domain. Background Research indicates the utility of applying human factors theory to understand error in finance, yet empirical research is lacking. We report on the development of the first system for capturing and analyzing human factors–related issues in operational trading incidents. Method In the first study, 20 incidents are analyzed by an expert user group against a referent standard to establish the reliability of FINANS. In the second study, 750 incidents are analyzed using distribution, mean, pathway, and associative analysis to describe the data. Results Kappa scores indicate that categories within FINANS can be reliably used to identify and extract data on human factors–related problems underlying trading incidents. Approximately 1% of trades (n = 750) lead to an incident. Slip/lapse (61%), situation awareness (51%), and teamwork (40%) were found to be the most common problems underlying incidents. For the most serious incidents, problems in situation awareness and teamwork were most common. Conclusion We show that (a) experts in the trading domain can reliably and accurately code human factors in incidents, (b) 1% of trades incur error, and (c) poor teamwork skills and situation awareness underpin the most critical incidents. Application This research provides data crucial for ameliorating risk within financial trading organizations, with implications for regulation and policy. PMID:27142394

  8. Takeover bids and insider trading

    NARCIS (Netherlands)

    Nelemans, Matthijs; Bainbridge, Stephen M.

    2014-01-01

    This paper analyses the law and economics of insider trading in the context of takeover bids, focusing on the European regulatory framework. We distinguish between trading by the bidder, by the target and by classical insiders and first address the issue of precisely when information about potential

  9. Does corruption discourage international trade?

    NARCIS (Netherlands)

    Jong, E. de; Bogmans, C.W.J.

    2011-01-01

    We use measures of trade-related corruption to investigate the effects of corruption on international trade and compare the results with those of corruption in general. We distinguish corruption in an exporting economy from that in an importing economy. Both distinctions appear to be important. Corr

  10. Trading strategies of corporate insiders

    NARCIS (Netherlands)

    Klein, O.; Maug, E.; Schneider, Christoph

    2017-01-01

    We test two complementary theories of optimal trading strategies by analyzing the transaction patterns of corporate insiders. According to information-based theories, investors trade faster if they compete with others for exploiting the same information, while liquidity-based theories predict the

  11. Technological Progress, Exit and Trade

    DEFF Research Database (Denmark)

    Schröder, Philipp; Sørensen, Allan

    The dynamics of export market exit and firm closure have found limited attention in heterogeneous-firms trade models. Accordingly, several of the predictions on exit stemming from new-new trade theory are at odds with the stylized facts. Empirically, higher productivity firms survive longer, higher...

  12. Illegal trade in Barbary macaques

    NARCIS (Netherlands)

    van Uhm, Daan

    2014-01-01

    While Morocco is well known as the main port between Africa and the EU for the illegal drugs trade and migration, the illegal trade in wildlife is flourishing as well. Next to the illegal large-scale trafficking of tortoises and birds, it is estimated that as few as 5,000 Barbary macaques remain in

  13. The Characteristics of Informed Trading

    DEFF Research Database (Denmark)

    Aslan, Hadiye; Easley, David; Hvidkjær, Søren

    2011-01-01

    This paper investigates the linkage of microstructure, accounting, and asset pricing. We determine the relationship between firm characteristics as captured by accounting and market data and a firm's probability of private information-based trade (PIN) as estimated from trade data. This allows us...

  14. Trade Liberalisation and Vertical Integration

    DEFF Research Database (Denmark)

    Bache, Peter Arendorf; Laugesen, Anders Rosenstand

    We build a three-country model of international trade in final goods and intermediate inputs and study the relation between four different types of trade liberalisation and vertical integration. Firms are heterogeneous with respect to both productivity and factor (headquarter) intensity. Final-go...

  15. Volatility Informed Trading in the Options Market: Evidence from India

    Directory of Open Access Journals (Sweden)

    Rajesh Pathak

    2015-12-01

    Full Text Available The purpose of this paper is to investigate the trading activity in options market based on information about expected future volatility in spot market. We employ Common Implied Volatility as a measure of expected volatility and options volume and changes in Open Interests as measures of options trading activity. We first test for simultaneous information flow in the two markets using multiple regression technique. Next, we test for information based or hedge based use of options using Trivariate Vector-auto Regression framework. We further consider the classes of options moneyness and the market trends in our analysis to examine if the trader’s preference of options changes with change in description of options intrinsic value and market environment. We use daily closing data of S&P CNX Nifty Index options traded on National Stock Exchange, India. We, for the most part, find negative and significant relationship in contemporaneous regression suggesting active trading by arbitrageurs. A feedback relationship is observed in vector auto regression analysis suggesting that options are traded in India for both information based trading and hedging purposes. We also observe the relationship to be varying when market trends and classes of options moneyness are considered. This indicates that traders are not indifferent in their choice of trading venue when market conditions and factors change. The results of this study are helpful for traders in managing the risk and return of their portfolio based on volatility forecast. This study is distinctive as it examines the scarcely researched area of volatility informed trading in an emerging market set up.

  16. Factors affecting expanded electricity trade in North America

    Energy Technology Data Exchange (ETDEWEB)

    Hill, L.J.

    1994-01-01

    The authors explore factors that affect electricity trade between enterprises in the US and Canada and the US and Mexico. They look to those underlying policy and institutional factors that affect the relative costs of producing electricity in the three countries. In particular, they consider six factors that appear to have a significant impact on electricity trade in North America: differences in the types of economic regulation of power leading to differences in cost recovery for wholesale and retail power and wheeling charges; changing regulatory attitudes, placing more emphasis on demand-side management and environmental concerns; differences in energy and economic policies; differences in national and subnational environmental policies; changing organization of electric power industries which may foster uncertainty, change historical relationships, and provide other potentially important sources of power for distribution utilities; and differences in the ability of enterprises to gain access to electric power markets because of restrictions placed on transmission access. In Section 2, the authors discuss the regulation of electricity trade in North America and provide an overview of the recent trading experience for electricity between Canada and the US and between Mexico and the US, including the volume of that trade over the past decade and existing transmission capacity between regions of the three countries. In Section 3, they look at the benefits that accrue to trading counties and what those benefits are likely to be for the three countries. The discussion in Section 4 centers on the relevant provisions of the Canada Free Trade Agreement and the proposed North American Free Trade Agreement. In Section 5, they set the stage for the discussion of policy and institutional differences presented in Section 6 by outlining differences in the organization of the electric power sectors of Canada, the US, and Mexico. The study is synthesized in Section 7.

  17. Geographies of High Frequency Trading

    DEFF Research Database (Denmark)

    Grindsted, Thomas Skou

    2016-01-01

    This paper investigates the geographies of high frequency trading. Today shares shift hands within micro seconds, giving rise to a form of financial geographies termed algorithmic capitalism. This notion refers to the different spatio-temporalities produced by high frequency trading, under...... the valuation of time. As high frequency trading accelerates financial markets, the paper examines the spatio-temporalities of automated trading by the ways in which the speed of knowledge exploitation in financial markets is not only of interest, but also the expansion between different temporalities....... The paper demonstrates how the intensification of time-space compression produces radical new dynamics in the financial market and develops information rent in HFT as convertible to a time rent and a spatio-temporal rent. The final section discusses whether high frequency trading only responds to crises...

  18. Financial and trade integration in the EU countries

    Directory of Open Access Journals (Sweden)

    Zuzana Kučerová

    2013-01-01

    Full Text Available Because of the creation and enlargement of the Eurozone, the importance of monetary integration is increasing and is the subject of a number of theoretical and empirical studies. The adoption of a common currency has to be accompanied by financial market integration. The aim of the paper is to assess the relationship between financial and trade integration in the EU member countries (divided into three subsamples: EU27, EU10, and EU17 over the period 1993–2012 (and two subperiods 1993–2007 and 2008–2012. We use quantity-based measures of financial integration derived from the countries’ international investment positions with a view to the foreign trade and the method of correlation analysis (including the moving correlation method. We conclude that the progress in financial integration was smaller in the EU10 countries compared to the EU16 countries, i.e. the pace of financial integration was higher in the EU16 countries than in the EU10 countries. The process of trade integration in all EU countries was not as fast as the process of financial integration. We also conclude that there is a linear association between financial and trade integration in the pre-crisis period (1993–2007, especially in the EU10 countries (compared to the EU16 countries. However, this relationship was seriously weakened by the financial crisis. Financial and trade integration are interconnected processes and should not be assessed separately. However, world trade (and thus financial integration can be undermined by limiting trade finance as a result of tightening financial regulation and supervision after a decade of loose regulation and supervision (e.g. by the implementation of the Basel III capital framework.

  19. Volume Entropy

    CERN Document Server

    Astuti, Valerio; Rovelli, Carlo

    2016-01-01

    Building on a technical result by Brunnemann and Rideout on the spectrum of the Volume operator in Loop Quantum Gravity, we show that the dimension of the space of the quadrivalent states --with finite-volume individual nodes-- describing a region with total volume smaller than $V$, has \\emph{finite} dimension, bounded by $V \\log V$. This allows us to introduce the notion of "volume entropy": the von Neumann entropy associated to the measurement of volume.

  20. Preferences, country bias, and international trade

    NARCIS (Netherlands)

    S. Roy (Santanu); J.M.A. Viaene (Jean-Marie)

    1998-01-01

    textabstractAnalyzes international trade where consumer preferences exhibit country bias. Why country biases arise; How trade can occur in the presence of country bias; Implication for the pattern of trade and specialization.