970 research outputs found
Identiteter och världsbild : "hårdkokt" skriftbruk i Thorsten Jonssons noveller
No full textidentity and worldview – “hard-boiled” writing in Thorsten Jonsson’s short storiesThis article deals with the Swedish author Thorsten Jonsson (1910–50) and his first short story collection Som det brukar vara (1939) [‘As it usually is’]. The nar- rative represents a new modernistic literary trend in Swedish prose in the 1930s. i take my starting point in Burgess & ivanič’s (2010) theories of the act of writing involving many different identities, and particularly what Burgess & ivanič iden- tify as the discursive self. By contemporary readers and critics the discursive self in the short story collection was often connected with an American hard-boiled literary ideal, often linked to ernest Hemingway’s writings. in this article i dis- cuss the common textual features of the two authors’ first collections, but also the differences that emerge when looking through the linguistic surface. The analysis shows that Thorsten Jonsson’s discursive self is based upon a northern Swedish culture, Hemingway’s on an urban American one. </p
The impact of taxation on upper and lower bounds of enterprise value
No full textBraun T. The impact of taxation on upper and lower bounds of enterprise value. Discussion paper / Fakultät für Wirtschaftswissenschaften, Universität Bielefeld. Bielefeld: Universität Bielefeld; 2005.This paper derives and draws on simple formulae for the upper and lower bounds to the value of a series of risky cash flows in order to provide some instructive insights in the impact of taxation on these bounds.
The formulae are based on no-arbitrage conditions in a setting that is a straightforward extension of the Cox, Ross, and Rubinstein option-pricing model to an incomplete market model and look exactly like the popular Gordon growth formula.
Although based on stylized facts concerning the tax scheme the results promise to be a reliable guide for further research in this field
Replication in Consistent Binomial Models
No full textWöster C. Replication in Consistent Binomial Models. Discussion paper / Fakultät für Wirtschaftswissenschaften, Universität Bielefeld. Vol 545. Bielefeld: Universität Bielefeld; 2005.The binomial model has been used to price a wide variety of equity and interest rate options for more than two decades. Originally developed by Cox, Ross, and Rubinstein to clarify the basic pricing principle of its continuous-time counterpart with reduced mathematical requirements, the approach became a numerical scheme to evaluate all kinds of contingent claims. Some of the algorithms have dissociated more and more from the basic principles. In this paper we turn to the foundations of the binomial model and elaborate the relation between real world processes, replicating strategies and martingales in a strict way
Measures of excess liquidity
No full textThe aim of this note is to provide an overview of various measures of excess liquidity, which can be defined as the deviation of the actual stock of money from an estimated equilibrium level. Given their dynamic nature, the excess liquidity measures under review are - in the light of long and variable lags of monetary policy - very useful tools to quantify future price pressures. In addition, excess liquidity measures consider inflation as a purely monetary phenomenon: neither the output gap nor liquidity gap - although both form an integral part of the concepts - an be held responsible for inducing a persistent rise in the price level. Despite strong theoretical support, the usefulness of excess liquidity measures depends on the stability of money demand, a question which has of course to be answered in the realm of empirical research. --P-star,excess liquidity,monetary policy,ECB
Deformation in the Greiner Shear Zone ̶ Pfitsch Valley, Southwestern Tauern Window
No full textThe Greiner Shear Zone is located within the Subpenninic core of the southwestern Tauern Window, Eastern Alps. It strikes SW-NE and separates the upright folded Zillertaler and Tuxer Zentralgneis Nappes from one another, whilst transecting their parautochthonous cover and allochthonous hanging-wall units. The Greiner Shear Zone is generally regarded as a transpressive shear zone, composed of multiple high strain zone splays, in which dextral, but dominantly sinistral shear sense indicators have been reported (Behrmann & Frisch 1990; Barnes et al. 2004). Deformation in the Greiner Shear Zone is pervasive and characterized by a sub-vertical foliation and west-southwest plunging lineation. However, the tectono-metamorphic history of the Greiner Shear Zone has not yet been fully clarified. To better constrain the structural architecture, kinematics, relative timing and spatial extent of the Greiner Shear Zone, geologic mapping within the Pfitsch Valley was carried out and structural data were collected. Optical and scanning electron microscopy analyses including EBSD were utilized to characterize the microstructure of deformed Furtschagl Schists incorporated within the shear zone. Deformed, inter-tectonic(ally grown) biotite porphyroblasts were characterized to ascertain the finite deformation history, as well as conduct a Schmid Factor analysis for (001)-slip of biotite grains, which is indicative of post-growth kinematics. Crystallographic dispersion axes of quartz grains were used to derive a vorticity axes distribution to better constrain the kinematics of the late Greiner Shear Zone. Furthermore, thermodynamic modelling using Theriak Domino was conducted to constrain the metamorphic evolution for shear zone samples stemming from the Furtschagl Schists, Venediger Nappe and Glockner Nappe.
Geologic mapping resulted in a new geologic map of the study area, and three cross-sections constructed perpendicular to strike of the Greiner Shear Zone of the Pfitsch Valley section. Unoriented biotite grains in the Furtschagl Schist are interpreted to have grown a) over a pre-existing foliation and b) prior to the (late) Greiner Shear Zone activity, the latter resulting in a co-planar fabric with a rather minute overprint of the pre-existing deformation fabric. Schmid Factor analysis on those biotites indicates a sub-horizontal to N-plunging, N-S directed compression direction which resulted in sinistral shearing at the time deformation was ceasing. Results of the crystallographic dispersion axis analyses suggest shallow NE to E plunging axes on a shallow N- to steep NW-dipping flow plane, respectively. Based on the petrological investigations and thermodynamic modelling, a clockwise pT-path from blueschist facies to amphibolite facies conditions of approx. ~570°C and 6.8-7.5 kb could be derived for the Furtschagl Schists of the Venediger Nappe. Peak amphibolite facies conditions occur at the transition from early, syn-kinematic Greiner shearing to an inter-tectonic phase (Tauern Crystallization) as indicated by garnet and biotite growth.
Therefore, post-Tauern Crystallization deformation of the Greiner Shear Zone within the Furtschagl Schists is the result of general shear dominated transpression at amphibolite facies metamorphic conditions, linked to sinistral strike-slip kinematics, which were active during N-S directed compression. The shear zone is further interpreted to exhibit a heterogenous monoclinic deformation symmetry, which is likely the result of an interconnected, anastomosing shear zone network
A case for money in the ECB monetary policy strategy
No full textOne major outcome of the review of the ECBs two pillar monetary policy strategy, which was published on 8 May 2003, has been the de facto downgrading of the hitherto prominent role assigned to the stock of money. According to the authors judgement, however, there is a strong theoretical and empirical rationale for the ECB monetary policy to pay close attention to the information content of money in the form of M3. However, the authors argue the ECB should make use of the so-called price gap or real money gap concept rather than the reference value as the latter runs the risk of giving misleading policy recommendations and compromising the indicator quality of the stock of money. Making use of M3 seems all the more rational as currently no better inflation indicator appears to exist in providing inflation forecasts in the euro area. --P-star,real money gap,excess liquidity,ECB
The STAR Heavy Flavor Tracker (HFT)
No full textThe heavy quark hadrons are suggested as a clean probe for studying the early dynamic evolution of the dense and hot medium created in high-energy nuclear collisions. The Heavy Flavor Tracker (HFT) of the STAR experiment, designed to improve the vertex resolution and extend the measurement capabilities in the heavy flavor domain, was installed for the 2014 heavy ion run of RHIC. It is composed of three different silicon detectors arranged in four concentric cylinders close to the STAR interaction point. The two innermost layers are based on CMOS monolithic active pixels (MAPS), featured for the first time in a collider experiment, and the two outer layers are based on pads and strips. The two innermost HFT layers are placed at a radius of 2.8 and 8~cm from the beam line and accommodate 400 ultra-thin (50μm) high resolution MAPS sensors arranged in 10-sensor ladders to cover a total silicon area of 0.16m2. Each sensor includes a pixel array of 928 rows and 960 columns with a 20.7μm pixel pitch, providing a sensitive area of ∼3.8cm2. The sensor features 185.6μs readout time and 170mW/cm2 power dissipation, allowing it to be air cooled, which results in a global material budget of only 0.5% radiation length per layer in the run 14 detector. A novel mechanical approach to detector insertion enables effective installation and integration of the pixel layers within a 12 hour shift during the on-going STAR Run. After a detailed description of the design specifications and the technology implementation, the detector status and operations during the 200 GeV Au+Au RHIC run of 2014 will be presented in this paper. A preliminary estimation of the detector performance meeting the design requirements will be reported
Why is unemployment so high in Bulgaria?
No full textThe author seeks to determine the main factors behind poor labor market outcomes in Bulgaria. Unemployment in Bulgaria is high and of long duration. The accumulation of the unemployment stock has been caused by relatively high inflows into unemployment coupled with limited outflows. These features of the Bulgarian labor market are typical of other transition economies in Central Europe and exploring their sources is of broad interest. The author focuses on determinants of and constraints to job creation. He uses data on job creation and job destruction from a survey of employment in all registered firms. He finds that the source of large inflows into unemployment is intensive enterprise restructuring associated with a high pace of job reallocation. However, job creation falls short of job destruction. Three main factors account for the limited job creation and hiring, and thus for low outflows from unemployment: a) The unfriendly business environment, reflected by a low rate of new firm formation, and a relatively small, small and medium enterprise sector. b) Labor market rigidities, including excessive hiring and firing costs. c) Skill and spatial mismatches brought about by enterprise restructuring, as well as low skills and marginalization of the long-term unemployed who cannot successfully compete for new jobs. The author recommends a three pronged strategy to improve labor market performance: (1) removing bureaucratic constraints to entry and expansion of firms; (2) enhancing labor market flexibility through lowering hiring and firing costs; and (3) improving the educational system so as to equip workers with broad and portable skills.Environmental Economics&Policies,Labor Policies,Labor Markets,Public Health Promotion,Health Monitoring&Evaluation,Environmental Economics&Policies,Labor Markets,Health Monitoring&Evaluation,Labor Standards,Banks&Banking Reform
Improvements to the Secure Construction and Utilization of Greedy Embeddings in Friend-to-Friend Overlays
No full textRouting based on greedy network embeddings enables efficient and privacy-preserving routing in overlays where connectivity is restricted to mutually trusted nodes. In previous works, we proposed security enhancements to the embedding and routing procedures to protect against denial-of-service attacks by malicious overlay participants. In this work, we propose an improved timeout scheme to reduce the stabilization overhead of secure tree maintenance in response to node failures and malicious behavior. Furthermore, we present an attack-resistant packet replication scheme that leverages alternative paths discovered during routing
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