1,146 research outputs found
"Post-crisis Exchange Rate Regimes in East Asia"
Get PDFMore than five years after the onset of the Asian crisis, the characteristics of the exchange rate regimes of East Asian economies remain a topic of considerable discussion. The purpose of this paper is to investigate what affected the values of three ASEAN currencies, the Malaysia ringgit, the Singapore dollar, and the Thai baht after the crisis. The particular interest in our analysis is to explore why the East Asian currencies, which temporarily reduced correlations with the U.S. dollar after the crisis, had a tendency to revert back to de facto pegs against the U.S. dollar in the late 1990s. Based on high-frequency day-to-day observations, we examine how and when these three ASEAN currencies changed their correlations with the U.S. dollar and the Japanese yen in the post-crisis period. Before September 1st 1998, these currencies increased correlations with the Japanese yen in the post-crisis period. In particular, the increased correlations were larger than theoretical correlations based on the trade weights. The increase in correlations with the Japanese yen was, however, temporary. After Malaysia adopted the fixed exchange rate, both the Singapore dollar and the Thai baht increased correlations with the U.S. dollar drastically and began reverting back to de facto pegs against the U.S. dollar. A part of the change was attributable to asymmetric responses to the yen-dollar exchange rate. The change was, however, explained quite well by the strong linkage among the ASEAN countries. This implies that a regime switch in Malaysia had an enormously large impact on the exchange rates of the other ASEAN countries in the post-crisis period.
Yen Tsun, Ho-shang-kung, and Wang Pi's Studies of Lao Tsu
No full text本文由方法學的角度討論嚴遵、河上公、王弼三家的《老子》注文。藉由他們對「道」與「言意問題」的不同意見，說明三家注本不同的詮釋型態。三家注中，王弼有《老子指略》一文說明他的詮釋方法，而嚴遵及河上公的詮釋方法則必須由注文中尋繹重建。王弼視「道」為被詮釋的對象，關心於「名言」如何識「道」的問題，因而強調道的「整全性」及其語言世界與心靈世界的「解蔽」功能。嚴遵、河上公與王弼不同，他們不把「道」視為一可被詮釋的對象，而以為道有確信的內涵。在型態上嚴遵強調「道」有「反復交感」與「對立同源」的二種特性；而河上公則強調「道」能主宰、能經營變化的功能。了解三家在詮釋型態上的不同，除了能清楚掌握他們對《老子》的理解外，或許也可以對目前關於《老子》的不同版本系統，提供學術史研究上的合理推測。This paper discusses the different methodologies used by Yen Tsun, Ho-shang-kung, and Wang Pi in their commentaries on Lao Tsu. Specifically, we will differentiate their interpretations of Lao Tsu in terms of their approaches towards Tao and the use of language to signify that concept. To understand Wang Pi's approach, we may consult his “Lao Tsu Chih Lueh”; however, for the other two authors we are left to infer their approaches based on their commentaries on the Lao Tsu. In this paper we shall show that inasmuch as Wang treats Tao as an object to be interpreted, he must resolve the problem of how language can be used to convey “Tao”. As a result, he emphasized Tao's “cmpleteness” and its role in “removing obstacles” in the linguistic and psycho-spiritual realms. Yen Tsun and Ho-shang-kung's approach to Lao Tsu differ from Wang's in the sense that they do not see Tao as an object to be interpreted, although they do believe that Tao has a definite nature. In his discussion of Tao, Yen Tsun empha-sizes two concepts, a sort of “continual mutual interaction” and “dualism springing from a common source.” Ho-shang-kung, on the other hand, stresses Tao's role as “being able to control” and “responding to change.” By delineating these different interpretative attitudes among these three commentators, we can not only better understand their approaches to the text itself, but may also be in a better position to offer a reasonable explanation for the different textual traditions of the Lao Tsu over the ages
Determinants of Currency Invoicing in Japanese Exports: A firm-level analysis
Get PDFCurrency invoicing in Japanese exports has two puzzling patterns concerning an excessively small share of yen invoicing: one is a strong tendency of Japanese firms to choose the importer's currency invoicing in exports to developed countries, and the other is the prevalence of U.S. dollar invoicing in Japanese exports to East Asia even though Japanese firms have built a regional production network over two decades. To address the puzzles, we propose new possible determinants of currency invoicing at a firm-level, based on an interview analysis with Japanese representative exporting firms, and then empirically test them by probit estimation using the unique dataset on the firms' currency invoicing choice by destination. Our novel findings suggest that a surprisingly low share of yen invoicing in Japanese exports even in the 2000s is attributed not only to the growing intra-firm trade through active overseas operations of Japanese firms but also to the unique production/trade structure in Asia mainly established by Japanese electronics companies.
Katalog der Musikbibliothek Peters ...
No full textClassified, with author indexes.Preface signed: C.F. Peters. Dr. Emil Vogel, bibliothekar.Abth. 1. Theoretische Werke.--Abth. 2. Praktische Werke.Mode of access: Internet
Japan's Persistent Trade Surplus: Policies for Adjustment
Get PDFWhile part of the recent increase in the Japanese trade surplus can be attributed to the Japanese recession, the surplus has widened despite the appreciation of the yen and enactment of policies to open Japanese markets. We review the trade surplus issue in the light of theories of trade and current account adjustment. We evaluate the potential for exchange appreciation and Japanese fiscal policy to reduce the imbalance, estimating their effects using simulations of the NIRA-LINK model of the US-Japan-world economy. The simulations show that moderate use of macropolicies would not be sufficient to eliminate the trade imbalance.Japanese trade surplus, econometric simulations
Motion of quantum vortex lines near realistic rough boundaries
No full textWe numerically solve the three--dimensional, time--dependent Gross--Pitaevskii equation to model a superfluid flowing over a realistic rough boundary. Our model for the boundary is based on the atom--force microscope image of a NbTi vibrating wire used to generate turbulence in actual experiments. We find that near the boundary a dense region of quantum vortices is created, which forms a kind of `superfluid boundary layer'
Wave excitations in adjacent vortex filaments
No full textThe interactions of the nearest neighbour vortices are argued to play a significant role in the crossover range of scales that lies between the Kolmogorov-Richardson cascade and the Kelvin wave driven cascade in superfluid turbulence. In this work, we study how a wave excitation (a Kelvin wave or a soliton) on a vortex affects a nearby straight vortex. Our numerical simulations reveal that coherent excitations can hop from one vortex filament to another whilst retaining their coherent properties
Modeling the Response of 3D Textile Composites under Compressive Loads to Predict Compressive Strength
Get PDFThe compression response of 3D woven textile composites (3DWC) that consist of glass fiber tows and a polymer matrix material is studied using a combination of experiments and finite element based analyses. A previous study reported by the authors consisted of an experimental investigation of 3DWC under high strain rate loading, Pankow, Salvi, Waas, Yen, and Ghiorse (2011). Those experimental results were explained by using the finite element method to analyze the high rate deformation response of representative volume elements (RVEs) of the 3DWC, Pankow, Waas, Yen, and Ghiorse (2012). In this paper, the same modeling strategy is used to examine the quasi-static, compressive deformation response of 3DWC. The effect of using different numbers of the textile repeat unit architecture in the RVE, on the predicted compression strength, is examined. The transitions in failure modes that are seen in experiments are seen to be captured by the model that is presented here
Spectral properties of Andreev reflection from quantum turbulence in 3He-B: What do they tell about turbulent fluctuations?
No full textOne of the experimental techniques developed to measure quantum turbulence at low temperatures in 3He-B utilizes the Andreev reflection of thermal quasiparticle excitations from quantized vortices and vortex structures. We present the results of theoretical, numerical, and experimental study of Andreev scattering from quantum turbulence in 3He-B. We analyze the spectral properties of the Andreev reflection and compare these with the spectral properties of superfluid turbulence, and discuss the physical mechanisms responsible for the scaling of spectral densities. Finally, we discuss the relation between our findings and related observables in ordinary turbulence
Abundantly expressed hepatic genes and their differential expression in liver of pre-laying and laying geese
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