Abstract This paper presents a simple and transparent framework for the monetary transmission mechanism of the South African economy based on the model by Rudebusch and Svensson (1999). This model is extended to consider the long rate and the credit channel in the transmission mechanism. Firstly, we find that the credit channel plays a significant role in the transmission mechanism. Secondly, despite the backward looking nature of the model, impulse responses reveal that the term spread predicts output and inflation in the South African economy.

by Tsan-Fai Ho. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1996. / Includes bibliographical references (leaves 64-68). / Chapter 1 --- Introduction --- p.1 / Chapter 1.1 --- Review on spread spectrum communications --- p.1 / Chapter 1.2 --- The spread spectrum techniques --- p.2 / Chapter 1.2.1 --- Direct Sequence (DS) Systems --- p.2 / Chapter 1.2.2 --- Frequency Hopping (FH) Systems --- p.2 / Chapter 1.2.3 --- Time Hopping (TH) Systems --- p.4 / Chapter 1.2.4 --- Hybrid Systems --- p.4 / Chapter 1.3 --- Existing Applications of the spread spectrum systems --- p.5 / Chapter 1.4 --- Organization of the thesis --- p.6 / Chapter 2 --- The Concept of Duality --- p.7 / Chapter 2.1 --- Multi-Carrier Systems - An Overview --- p.7 / Chapter 2.2 --- Orthogonal Frequency Division Multiplexing --- p.8 / Chapter 2.2.1 --- Bandwidth Efficiency --- p.9 / Chapter 2.2.2 --- Spectral Efficiency --- p.10 / Chapter 2.2.3 --- Effects of fading --- p.11 / Chapter 2.3 --- Applications of OFDM in multiple access --- p.13 / Chapter 2.3.1 --- ST-CDMA --- p.13 / Chapter 2.3.2 --- MC-DS-CDMA --- p.14 / Chapter 2.3.3 --- OFDM-CDMA --- p.15 / Chapter 2.4 --- Duality - Time-Frequency Interrelation --- p.16 / Chapter 3 --- Performance of Multi-Carrier CDMA System --- p.17 / Chapter 3.1 --- System Model --- p.17 / Chapter 3.2 --- Performance Analysis --- p.20 / Chapter 3.2.1 --- Gaussian Channel --- p.20 / Chapter 3.2.2 --- Fading Channel --- p.24 / Chapter 3.3 --- Performance with Pulse Shape --- p.33 / Chapter 3.4 --- Appendix --- p.34 / Chapter 4 --- Signal Design Criteria for MC-CDMA System --- p.36 / Chapter 4.1 --- Existence of Signal Distortion --- p.37 / Chapter 4.2 --- Measures of the Signal Envelope Fluctuation --- p.38 / Chapter 4.3 --- Complementary Sequences --- p.41 / Chapter 4.4 --- Crest Factors --- p.42 / Chapter 4.4.1 --- Time-limited Pulse --- p.43 / Chapter 4.4.2 --- Ideally Band-Limited Pulses --- p.43 / Chapter 4.4.3 --- Shaped Pulses --- p.45 / Chapter 4.5 --- Spectrally Efficient Complementary (SEC) Sequences --- p.48 / Chapter 4.6 --- Construction of Spectrally Efficient Complementary(SEC) Sequences --- p.50 / Chapter 4.7 --- Generalized Multiphase Spectrally Efficient Complementary Sequences --- p.55 / Chapter 5 --- Summary and Future Extensions --- p.58 / Chapter 5.1 --- Summary of the Results --- p.58 / Chapter 5.2 --- Topics for Future Research --- p.59 / Appendix / Chapter A --- Exhaustive search of MPSEC sequences --- p.61 / Chapter B --- Papers derived from this thesis --- p.63 / Bibliography --- p.64

nÃo hà / The Macroeconomic instability lived deeply by Brazil, during decades, motivated practical of the high taxes of interests, provoking significant distortions in the intertemporal allocation of resources in the economy. Passed ten years of the edition of the Real Plan, the success of the monetary politics and the reduction of the level of uncertainties in relation to the country have made possible the fall of the taxes of interests, much even so still are considered between the most raised of the world. The influence of these taxes in the life of the people if negative reflects in the reduction of the capacity of saving and investment, repercurtindo in the sum of credit granted for the financial institutions. The existence of high taxes of interests also finds support in the government, that contributes with a confused and excessive tax burden on the operations of application and captation of resources, as well as the raised level of liability in relation the taxes of reserves of the banks. The necessary administrative costs to the maintenance of the operational activities, the level of present insolvency in the concession of credit and the edge of profit gained for the banks also if configure as determinative factors for the magnitude of these taxes. All these 0 variable significantly affect the process of transmission of resources in the economy, what it provokes the rise of the cost of the money of spread bank clerk and the level of risk of the operations of credit. Inside of this context, this dissertaÃÃo has as objective to define a methodology of calculation of the cost of the money for the credit borrower, of spread gained by the banks and its composoÃÃo, as well as applying a model of evaluation of the level of present proper risk in the practised taxes of application in the process of banking intermediaÃÃo in Brazil. / A instabilidade MacroeconÃmica vivenciada pelo Brasil, durante dÃcadas, motivou a prÃtica de elevadas taxas de juros, provocando distorÃÃes significativas na alocaÃÃo intertemporal de recursos na economia. Passados dez anos da ediÃÃo do Plano Real, o sucesso da polÃtica monetÃria e a reduÃÃo do nÃvel de incertezas em relaÃÃo ao paÃs tÃm possibilitado a queda das taxas de juros, muito embora ainda sejam consideradas entre as mais elevadas do mundo. A influÃncia dessas taxas na vida das pessoas se reflete na reduÃÃo da capacidade de poupanÃa e investimento, repercurtindo negativamente no montante de crÃdito concedido pelas instituiÃÃes financeiras. A existÃncia de taxas de juros elevadas tambÃm encontra amparo no governo, que contribui com uma confusa e exorbitante carga tributÃria sobre as operaÃÃes de aplicaÃÃo e captaÃÃo de recursos, bem como o elevado nÃvel de exigibilidade em relaÃÃo as taxas de reservas dos bancos. Os custos administrativos necessÃrios à manutenÃÃo das atividades operacionais, o nÃvel de inadimplÃncia presente na concessÃo de crÃdito e a margem de lucro auferida pelos bancos tambÃm se configuram como fatores determinantes para a magnitude dessas taxas. Todas essas variaveis afetam significativamente o processo de transmissÃo de recursos na economia, o que provoca a elevaÃÃo do custo do dinheiro do spread bancÃrio e do nÃvel de risco das operaÃÃes de crÃdito. Dentro desse contexto, esta dissertaÃÃo tem como objetivo definir uma metodologia de cÃlculo do custo do dinheiro para o tomador de crÃdito, do spread auferido pelos bancos e sua composoÃÃo, bem como aplicar um modelo de avaliaÃÃo do nÃvel de risco prÃprio presente nas taxas de aplicaÃÃo praticadas no processo de intermediaÃÃo bancÃria no Brasil.

Li, Kin Fai. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2008. / Includes bibliographical references (leaves 95-99). / Abstracts in English and Chinese. / Abstract --- p.i / Acknowledgement --- p.iv / Chapter 1 --- Introduction / Motivation --- p.1 / Chapter 2 --- Literature Review --- p.7 / Chapter 2.1 --- Introduction --- p.7 / Chapter 2.2 --- Dynamic Spectrum Access Networks --- p.8 / Chapter 2.3 --- Reliability --- p.10 / Chapter 2.3.1 --- Reliability in Wireless Networks --- p.10 / Chapter 2.3.2 --- Reliability in Wireline Networks --- p.11 / Chapter 2.4 --- Capacity Planning in Wireless Mesh Networks --- p.14 / Chapter 2.4.1 --- Interference Model --- p.14 / Chapter 2.4.2 --- Link Capacity Constraint --- p.15 / Chapter 2.4.3 --- Feasible Path --- p.16 / Chapter 2.4.4 --- Optimal Capacity Allocation in DSA Net- works and Wireless Mesh Networks --- p.16 / Chapter 2.5 --- Chapter Summary --- p.18 / Chapter 3 --- Lifetime Aware Routing without Backup --- p.19 / Chapter 3.1 --- Introduction --- p.19 / Chapter 3.2 --- System Model --- p.20 / Chapter 3.3 --- Lifetime Distribution of a Path without Backup Protection --- p.22 / Chapter 3.3.1 --- Exact Lifetime Distribution --- p.23 / Chapter 3.3.2 --- The Chain Approximation --- p.24 / Chapter 3.4 --- Route Selection without Backup Protection --- p.26 / Chapter 3.4.1 --- NP-Hardness of Finding Maximum Lifetime Path --- p.26 / Chapter 3.4.2 --- The Minimum Weight Algorithm --- p.28 / Chapter 3.4.3 --- Greedy Algorithm --- p.28 / Chapter 3.4.4 --- GACA - The Greedy Algorithm using the Chain Approximation --- p.32 / Chapter 3.5 --- Simulation Results --- p.33 / Chapter 3.5.1 --- Tightness of the Chain Approximation Bound for Vulnerable Area --- p.33 / Chapter 3.5.2 --- Comparison between Greedy and GACA using Guaranteed Lifetime --- p.36 / Chapter 3.5.3 --- Factors impacting the performance of GACA --- p.37 / Chapter 3.6 --- Chapter Summary --- p.43 / Chapter 4 --- Prolonging Path Lifetime with Backup Channel --- p.44 / Chapter 4.1 --- Introduction --- p.44 / Chapter 4.2 --- Non-Shared Backup Protection --- p.45 / Chapter 4.2.1 --- Lifetime of a Path with Non-Shared Backup --- p.45 / Chapter 4.2.2 --- Route Selection for paths with Non-Shared Backup --- p.46 / Chapter 4.3 --- Shared Backup Protection --- p.47 / Chapter 4.3.1 --- Sharing of Backup Capacity --- p.48 / Chapter 4.3.2 --- Lifetime of a Path with Shared Backup --- p.48 / Chapter 4.3.3 --- Route Selection for paths with Shared Backup --- p.50 / Chapter 4.4 --- Simulation Results --- p.50 / Chapter 4.4.1 --- Tightness of Failure Probability Upper Bound for Backup Protection --- p.51 / Chapter 4.4.2 --- Comparison between the Shared Backup and Non Shared Backup schemes --- p.53 / Chapter 4.5 --- Chapter Summary --- p.54 / Chapter 5 --- Finding Capacity-Feasible Routes --- p.55 / Chapter 5.1 --- Introduction --- p.55 / Chapter 5.2 --- Constructing an Edge graph --- p.56 / Chapter 5.3 --- Checking Capacity Feasibility under each Protec- tion Scheme --- p.58 / Chapter 5.3.1 --- No Backup Protection --- p.59 / Chapter 5.3.2 --- Non-Shared Backup Protection --- p.59 / Chapter 5.3.3 --- Shared Backup Protection --- p.60 / Chapter 5.4 --- Chapter Summary --- p.62 / Chapter 6 --- Performance Evaluations and Adaptive Protec- tion --- p.63 / Chapter 6.1 --- Introduction --- p.63 / Chapter 6.2 --- Tradeoffs between Route Selection Algorithms --- p.64 / Chapter 6.3 --- Adaptive Protection --- p.66 / Chapter 6.3.1 --- Route Selection for Adaptive Protection --- p.67 / Chapter 6.3.2 --- Finding a Capacity-Feasible Path for Adaptive Protection --- p.68 / Chapter 6.4 --- Comparison between No Protection and Adaptive Protection --- p.69 / Chapter 6.5 --- Chapter Summary --- p.71 / Chapter 7 --- Restoration Capacity Planning and Channel Assignment --- p.72 / Chapter 7.1 --- Introduction --- p.72 / Chapter 7.2 --- System Model --- p.74 / Chapter 7.2.1 --- Channel Assignment Model --- p.74 / Chapter 7.2.2 --- Presence of Primary Users --- p.75 / Chapter 7.2.3 --- Link Flow Rates --- p.76 / Chapter 7.2.4 --- Problem Formulation --- p.77 / Chapter 7.3 --- Simulation Results --- p.79 / Chapter 7.3.1 --- "Comparison between ""Shared Backup"" and “No Restore Plan"" using Guarantee Percentage and Reduced Capacity" --- p.80 / Chapter 7.3.2 --- Comparison using Traffic Demand Scaling Factor g and Guarantee Fraction p --- p.81 / Chapter 7.3.3 --- Comparison between Optimal Channel Assignment and Random Channel Assignment --- p.84 / Chapter 7.4 --- Chapter Summary --- p.86 / Chapter 8 --- Conclusion and Future Works --- p.87 / Chapter A --- Proof of Theorem (3.1) in Chapter3 --- p.90 / Chapter B --- Proof of Theorem (4.1) in Chapter4 --- p.92 / Bibliography --- p.95

A stable low-fat water-in-oil emulsion was satisfactorily prepared from milk-fat under laboratory condition. The best product contained 40 per cent fat, 56.8-57.3 per cent water, 0.8 per cent sodium carboxymethyl cellulose, 0.7-1.2 per cent milk solids-non-fat, and 1.2 percent salt. The spread was prepared equally well from butter or high test cream. When the product was made from cream (containing 74 per cent milk-fat) it was necessary to convert most of the globular fat to free fat prior to forming an emulsion. Globular fat in cream was successfully changed to free fat by homogenization at 2500 pounds per square inch or by storing the cream at 5 centigrade for 24 hours. tHe free fat was shock cooled from 41 to 18 centigrade in a swept-surface heat exchanger to give a smooth velvety texture to the milk-fat. The solidified milk-fat was warmed to 22-24 centigrade and emulsified with water containing sodium carboxymethyl cellulose 7HF (manufactured by Hercules Incorporated) and salt. Color and flavoring were added during emulsification.

No description available.

<p>Målet med denna rapport är att skapa en marknadsmässig prisjustering av en aktieoption som uppvisar en sämre likviditet under en viss tidshorisont. Likviditetsrisken mäts genom att studera skillnaden vid prisbildningen av aktiederivatets olika budsidor. Denna risk ska jämföras med ett rådande marknadspris för varje uppmätning så att en procentuell prisavvikelse erhålls. I den statistiska modellen för en aktieoptions framtida risker studeras flera olika lösenpriser där det existerar omsättning, därmed täcks alla optionsprisers framtida likviditetsrisker. Modellen är uppbyggd med antaganden från den svenska derivatmarknaden för handel. Genomsnittliga värden räknas ut och prisavvikelser för historisk likviditet uppdelas till olika optionsprisnivåer. Modellen kräver vissa antaganden och integreras senare med optionsprismodellen vilket påverkar vissa tekniska aspekter för optionsprisanpassningen. En prisjusteringsmodell med binomialträdets egenskaper för optionsprissättning skapas med antaganden om likviditet och hänsyn till olika optionsprisnivåer. Modellen klarar sedan av att prisjustera en option där en historisk likviditet har uppmätts enligt uppsatta önskemål. Vidare är modellen dynamisk och anpassningsbar för olika derivat gällande marknadens effektivitet, d.v.s. marknadens egenskaper speglas för varje undersökt option. Modellen klarar av olika tidshorisonter. Kritik och diskussion kring vilka effekter som givna antaganden ger upphov till diskuteras och analyseras.</p>

Craniofacial nerve injury occasionally causes spread of mechanical hypersensitivity in humans. We modeled this abnormality by transecting the infraorbital nerve (IONX) in male and female mice of the 23 AXB-BXA recombinant inbred lines and their progenitor strains, comparing their responsivity to 7 applications of a 0.2 gram Von Frey filament to the ears, paws and tail. When normalizing their mechano-responsivity on postoperative days 14 and 21 by the preoperative values, subtracting data of sham-operated from IONX mice, highly contrasting line/strain-specific differences were demonstrated. Similar line/strain-specific variability in the spread of mechano-allodynia to the paws post-IONX was demonstrated in our novel 3 minute place-avoidance paradigm, assessing parameters of mobility on a smooth surface versus a pro-allodynic granular surface. These genetically-controlled, widespread changes in mechano-sensitivity caused by IONX were minimally sexually dimorphic and mapped to intervals on chromosomes 5, 9, and 13. Further analysis is needed to identify the causative genes.

Craniofacial nerve injury occasionally causes spread of mechanical hypersensitivity in humans. We modeled this abnormality by transecting the infraorbital nerve (IONX) in male and female mice of the 23 AXB-BXA recombinant inbred lines and their progenitor strains, comparing their responsivity to 7 applications of a 0.2 gram Von Frey filament to the ears, paws and tail. When normalizing their mechano-responsivity on postoperative days 14 and 21 by the preoperative values, subtracting data of sham-operated from IONX mice, highly contrasting line/strain-specific differences were demonstrated. Similar line/strain-specific variability in the spread of mechano-allodynia to the paws post-IONX was demonstrated in our novel 3 minute place-avoidance paradigm, assessing parameters of mobility on a smooth surface versus a pro-allodynic granular surface. These genetically-controlled, widespread changes in mechano-sensitivity caused by IONX were minimally sexually dimorphic and mapped to intervals on chromosomes 5, 9, and 13. Further analysis is needed to identify the causative genes.

Målet med denna rapport är att skapa en marknadsmässig prisjustering av en aktieoption som uppvisar en sämre likviditet under en viss tidshorisont. Likviditetsrisken mäts genom att studera skillnaden vid prisbildningen av aktiederivatets olika budsidor. Denna risk ska jämföras med ett rådande marknadspris för varje uppmätning så att en procentuell prisavvikelse erhålls. I den statistiska modellen för en aktieoptions framtida risker studeras flera olika lösenpriser där det existerar omsättning, därmed täcks alla optionsprisers framtida likviditetsrisker. Modellen är uppbyggd med antaganden från den svenska derivatmarknaden för handel. Genomsnittliga värden räknas ut och prisavvikelser för historisk likviditet uppdelas till olika optionsprisnivåer. Modellen kräver vissa antaganden och integreras senare med optionsprismodellen vilket påverkar vissa tekniska aspekter för optionsprisanpassningen. En prisjusteringsmodell med binomialträdets egenskaper för optionsprissättning skapas med antaganden om likviditet och hänsyn till olika optionsprisnivåer. Modellen klarar sedan av att prisjustera en option där en historisk likviditet har uppmätts enligt uppsatta önskemål. Vidare är modellen dynamisk och anpassningsbar för olika derivat gällande marknadens effektivitet, d.v.s. marknadens egenskaper speglas för varje undersökt option. Modellen klarar av olika tidshorisonter. Kritik och diskussion kring vilka effekter som givna antaganden ger upphov till diskuteras och analyseras.