Asymmetric Exchange Research Articles

Race, Gender, and Social Exchange in Young Adult Unions

Social scientists often conceptualize romantic partner selection as an asymmetric exchange in which partners of different race or gender offer different desired qualities. For example, white women might leverage racial status into upward mobility by marrying socioeconomically advantaged minority men, or minority women might exchange beauty, sexual access, and domestic services for white men’s higher racial status and income. However, such approaches frequently assume gender and race asymmetry in preferences—for example, that men attach greater value to potential partners’ physical attractiveness than women do. These assumptions may be unwarranted, especially among contemporary young couples. In turn, assuming asymmetry in exchange can generate misleading results if partnering patterns are actually symmetric. Accordingly, we use data from the National Longitudinal Study of Adolescent to Adult Health (Add Health), including a supplementary sample of romantic partners, to reconsider recent findings with an emphasis on evaluating (a)symmetry.

Impact of Asymmetric Exchange Rate Changes on U.S. Agricultural Trade: Evidence from a Nonlinear ARDL Approach

A foreign exchange rate is one factor that drives U.S. agricultural trade. Considering this fact, the impact of asymmetric exchange rate changes on U.S. agricultural trade with major trading partners are analyzed. We employ a nonlinear autoregressive distributed lag (NARDL) model to analyze the dynamic exchange rate changes on U.S. agricultural exports and imports. In order to test the asymmetric exchange rate effects on trade, we decompose the exchange rate into its positive and negative changes. Then, we calculate the partial sum for the positive and negative exchange rate. The results provide evidence that at least in the short run the effects of exchange rate changes on the U.S. agricultural exports are asymmetric for some countries while the impact of foreign exchange rate changes on the U.S. agricultural imports is symmetric. Furthermore, an increase or decrease in income among the major trading nations leads to rise or fall in the U.S. agricultural exports. Our study provides important evidence for the asymmetric exchange rate changes on the bilateral U.S. agricultural trade.

The validity of uncovered interest parity: Evidence from african members and non-member of the organisation of petroleum exporting countries (OPEC)

This paper re-examines uncovered interest parity (UIP) puzzle using Africa where there is dearth of studies. It extends the previous literature in the following ways. It captures the heterogeneity (oil and non-oil sources of shocks) in the region by considering both African members of the Organisation of Petroleum Exporting Countries- OPEC (Algeria, Nigeria and Angola) and non-member (South Africa) to ensure generalisation of findings. It also explores asymmetric exchange rate responses to diverse monetary policy stances from a new dimension by explicitly measuring asymmetries and capturing long- and short-run dynamics using the new non-linear autoregressive distributed lag (NARDL) and asymmetric component AC-GARCH models along with other recent methods for results' robustness. Results from alternative methods show that UIP fails to hold in the African members and non-member of OPEC which is attributable to capital mobility restrictions and currency risk. However, asymmetric and permanent/transitory exchange rate response to monetary policy stances was noticed with little evidence of risk premium dynamics and role of price level instability in UIP validity.

Screening Contract Excitation Models Involving Closed-Loop Supply Chains Under Asymmetric Information Games: A Case Study with New Energy Vehicle Power Battery

In closed-loop supply chain systems for power battery remanufacturing, recycling and dismantling tasks will be relegated to third-party recyclers. This has significant disadvantages, inasmuch as the asymmetric exchange of information regarding the level of recycling capacity and effort after signing a contract fiscal risks to the manufacturers. The purpose of this paper is to study the “adverse selection” of recyclers and “moral hazards” hidden in their purported effort levels, based on Information Screening Models in the principal-agent theory. Our information screening model for revenue sharing will be presented, and subsequently verified using numerical simulation to demonstrate the impact of the screening contract on the expected returns of both parties. Our results show that the sharing coefficient of the remanufacturing revenue for low-capability recyclers is distorted downwards, and only truthful reporting can retain profits. High-capacity recyclers will obtain additional information while retaining profit. At the same time, as the proportion of high-capacity recyclers in the market increases, the expected return of the entrusting party increases. One critical area where this will impact the Chinese economy is in the area of new energy vehicles. We investigate a case study of our approach in new energy vehicles, which are being used to reduced CO 2 emissions, but have environmentally hazardous batteries that must be recycled safely and economically.

Efekty makroekonomiczne zmienności produkcji w gospodarce Ukrainy

This paper focuses on several macroeconomic effects of the output volatility in Ukraine. Our findings suggest that the volatility that originates from the gross domestic product (GDP) has a sizeable, negative and statistically significant effect on economic growth and investments while being complementary to industrial production (no impact on consumption and consumer prices has been detected). The results also indicate asymmetric exchange rate effects upon GDP and industrial production growth. Among other results, it has been found that (i) output volatility has expansionary effects on three out of five sectors (manufacturing, food processing and power generation), with a likely contractionary effect on the steel-making industry, (ii) exchange rate depreciation stimulates investments, but at the expense of higher inflation and lower consumption, (iii) output volatility is associated with lower money supply and a decrease in the interest rate, with a negative impact on the budget balance

Information generating, sharing, and manipulating Source-Reservoir-Sink model of self-organizing dissipative structures.

The evolution of self-organizing ensembles of fullerenes and the emergence of the Buckyball are described by information generating, sharing, and manipulating Source-Reservoir-Sink model. Shannon's information-theoretic model of signal transmitter, channel, and receiver that preserves and retains the original signal is extended to our model that maps the transformations of chemical and physical components of the self-organizing dissipative structures into Source, Reservoir, and Sink. The information generated by Source is manipulated by controlling the flow of information to Reservoir before being transmitted to Sink. It is demonstrated in a Box-model. The role of Reservoir in building up the manipulative capacity for information storage and selective sharing is illustrated by the asymmetric exchange of material and information. The number of boxes and the flow rates are varied to evaluate the information-theoretic diagnostic tools of Shannon entropy, complexity, fractal dimension, relative entropy, and the entropic cost of the emerging dissipative structures.

Nonreciprocal spin waves in a chiral antiferromagnet without the Dzyaloshinskii-Moriya interaction

Non-reciprocal spin wave can facilitate the realization of spin wave logic devices. It has been demonstrated that the non-reciprocity can emerge when an external magnetic field is applied to chiral magnets, of which spin structures depend crucially on an asymmetric exchange interaction, that is, the Dzyaloshinskii-Moriya interaction (DMI). Here we demonstrate that the non-reciprocity can arise even without the DMI. We demonstrate this idea for the chiral antiferromagnet Ba$_2$NbFe$_3$Si$_2$O$_{14}$, of which DMI is very small and chiral spin structure arises mainly from the competition between symmetric exchange interactions. We show that when an external magnetic field is applied, asymmetric energy gap shift occurs and the spin wave becomes non-reciprocal from the competition between symmetric exchange interactions and the external magnetic field.

Asymmetry in exchange rate pass-through to consumer prices: Evidence from emerging and developing Asian countries

This paper investigates the asymmetrical exchange rate pass-through (ERPT) to consumer prices for emerging and developing Asian countries from 1995Q1 to 2016Q4. We estimate the ERPT to consumer prices for each country by using the nonlinear autoregressive distributed lag (NARDL) approach and dynamic panel techniques robust to cross-sectional dependence. First, the results suggest an asymmetrical ERPT for local prices in emerging Asian sub-region in the short and long-term and only in the short-term in the developing Asian sub-region. Second, this study finds a significant and complete ERPT for appreciation, higher during local currency appreciation than depreciation in the long-term. Our results indicate downward price rigidity and weak competitive market structures. Finally, the pass-through has not declined in emerging and developing Asian countries in the long-term, as has been suggested by most of the studies on developed countries. On average, consumer prices rise by 0.90% (0.50%) following a 1% appreciation (depreciation) of the local currency in the long-term for the entire emerging and developing Asian region with different effects across the subregions during the short-term. The ERPT is higher in emerging Asian sub-region associated with low inflation levels and price volatility than in developing Asian sub-region. Therefore, the policy implication is to consider these asymmetries when determining the monetary policy rules and to promote competitive market structures and trade liberalization in emerging and developing Asian countries.

China’s rise, asymmetric trade shocks and exchange rate regimes

AbstractChina’s rapid growth provides a natural experiment to study the effects of asymmetric trade shocks on the competitiveness of OECD countries. The different levels of exposure to Chinese trade competition, as measured using an index of export similarity, triggered asymmetric shocks as China’s trade surged. Motivated by a Ricardian framework, this paper finds that countries with exports similar to those of China experience a loss in competitiveness compared with countries with a different trade structure. Once an additional layer of distinction is introduced between fixed and flexible exchange rate regimes, I find that countries with a fixed exchange rate and with relatively high similarity to China experience a real appreciation.

Захист віртуальних машин на основі інструкцій нового покоління процесорів AMD Zen

It is demonstrated the development of a virtualization environment security subsystem with the help of hardware-accelerated AMD Zen CPU cryptography API and its instruction set for security tasks, including but not limited to: protection against unauthorized memory access, data leaks, hypervisor breach, external attacks and malware spread via the Internet. The method in question utilizes real-time memory encryption and decryption, with the memory bandwidth and computing power sufficient for seamless hypervisor and server operation, virtual machine live migration and secure export, and demonstrates capabilities of ARM Cortex A5 on-board cryptography processor core for mentioned tasks, as well as providing secure asymmetric key exchange invisible and inaccessible to any software beside internal Trusted Platform Module and its inner DRAM memory controller, to guarantee high level of virtual environment security and sufficient resistance to most active attacks with minimum computation overhead, suitable for most real-life virtualization-based workload scenarios. The example subsystem specifically targets Microsoft Windows 10 operating system, however software support for different operating systems (including UNIX-based) may already be provided by appropriate vendors, including enterprise-ready solutions, such as Cisco, Dell, HP, etc.

Effects of Reciprocity Induction on Partial-Altruistic and Unequal-Asymmetric Labor Exchange Interactions

An experiment evaluated the effects of reciprocal behavior of a confederate on the behavior of a participant under concurrent individual and shared contingencies. The experimental situation consisted of solving a puzzle on two synchronized computer screens. Sixteen female and male university students were assigned to the same number of dyads, in which the other member was a confederate. They were divided into four groups of four dyads each. Groups 1 and 3 were exposed to an ascending percentage of reciprocal behavior by the confederate (0, 50, and 100%) whereas groups 2 and 4 were exposed to a descending percentage (100, 50, and 0%). All groups were exposed to two shared contingency situations: partial altruism, in which no points or tokens were provided, and unequal, and asymmetric labor exchange, in which different amounts of valuables were exchanged for earned points. Groups 1 and 2 were first exposed to the partial altruism situation whereas groups 3 and 4 were first exposed to the labor exchange situation. Results show that participants in all groups matched the reciprocal behavior of confederates, resulting in partial altruism during percentages larger than 0 in both conditions, with and without points and earnings. These results confirm previous findings suggesting that reciprocity is a function of the behavior of at least one of the members of the dyad. Results are also discussed in relation to the functional relevance for the occurrence of cultural and economic interactions.

Asymmetric and Symmetric Exchange in a Generalized 2D Rashba Ferromagnet.

Dzyaloshinskii-Moriya interaction (DMI) is investigated in a 2D ferromagnet (FM) with spin-orbit interaction of Rashba type at finite temperatures. The FM is described in the continuum limit by an effective s-d model with arbitrary dependence of spin-orbit coupling (SOC) and kinetic energy of itinerant electrons on the absolute value of momentum. In the limit of weak SOC, we derive a general expression for the DMI constant D from a microscopic analysis of the electronic grand potential. We compare D with the exchange stiffness A and show that, to the leading order in small SOC strength α_{R}, the conventional relation D=(4mα_{R}/ℏ)A, in general, does not hold beyond the Bychkov-Rashba model. Moreover, in this model, both A and D vanish at zero temperature in the metal regime (i.e., when two spin sub-bands are partly occupied). For nonparabolic bands or nonlinear Rashba coupling, these coefficients are finite and acquire a nontrivial dependence on the chemical potential that demonstrates the possibility to control the size and chirality of magnetic textures by adjusting a gate voltage.

Scalable magnetic skyrmions in nanostructures

Magnetic skyrmions are going to be the prospective candidate for next generation ultra-high density data storage due to their tunable dimension down to few nm and requirement of low current density for their motion. This paper presents the stabilization of skyrmion and various ways of scaling skyrmion dimension in magnetic nanostructure with perpendicular magnetic anisotropy. The micromagnetic energetics of the system has been explained as an additive contribution due to the Heisenberg exchange, Dzyaloshinskii-Moriya interaction, anisotropy and Zeeman field. Emphasis has been provided towards the understanding of the complex interplay between the energy parameters in response to the modification of asymmetric exchange, anisotropy and their effect in magnetization reversal for circular nano-disks of different dimensions. Fine tuning of skyrmion diameter is shown with the presence of magnetic defect in the nanostructure. Stabilization of single skyrmion and symmetric multi skyrmion lattice from a ferromagnetic multi domain state has been explained for the nanostructures in the light of subtle balance of the energies, arising due to the Dzyaloshinskii-Moriya interaction and out-of-plane magnetic field.

Modeling C540-C20 Fullerene Collisions

Abstract Collisions of C20 and C540 fullerenes are studied in a wide range of velocities by means of classical molecular dynamics. The simulations show that the collision scenario strongly depends on the collision velocity of the fullerenes. At low collision energies, the fullerenes are repelled by the van der Waals forces, and after bouncing off a part of the kinetic energy of their translational motion is converted into the energy of cage vibrations. At higher collision energies, the fullerenes overcome the potential barrier of Pauli repulsion with the formation of the new chemical bonds, and a significant change in the geometry of the molecules is observed. At very high collision energies, structure of the molecules is destroyed with the formation of new carbon clusters. Analysis of collisions for fullerenes of significantly different size revealed some new features associated with their asymmetric energy exchange.

Influence of non-bridging donor atoms on the value of exchange interaction in binuclear CuII complexes with bis-hydrazones based on 2,6-diformylphenol

The quantum chemical simulation of exchange interaction according to the broken symmetry approach was performed for a series of binuclear CuII complexes containing the asymmetric exchange moiety based on bis-hydrazones of 2,6-diformylphenol. The calculated values were compared between themselves and with the experimental values of the exchange parameter 2J for the binuclear copper(II) complexes with bis-hydrazones based on 2,6-diformylphenol in order to reveal the influence pattern of the nature of nonbridging donor atoms X (O, N, S, and Se) onto the exchange interaction. The strength of exchange interaction of the antiferromagnetic type depends significantly on the nature of nonbridging donor atoms, increasing in the series of X = O, NH, S, and Se.

Asymmetric Exchange Rate Pass-through into Korea’s Export Prices to China

This paper analyzes the ERPT (Exchange Rate Pass-Through) into Korea’s aggregate export price and prices of 18 industries to China, under the HS (Harmonized System) classification, utilizing monthly data from July 2005 to November 2017. By adopting the bound test, long-term co-integration relationships have been established in 17 industries, when assuming symmetric ERPT effects. All industries are co-integrated in the long-run when assuming the ERPT effects are asymmetric. By employing linear ARDL (Auto Regressive Distributed Lag) and nonlinear ARDL model, the estimation results show that the ERPT into Korea’s aggregate export prices to China is -0.38. The degree of ERPT effects varies across industries. Asymmetric ERPT effects into Korea’s export prices to China are detected in most of the industries. Our findings suggest that exchange rate policies are crucial to adjust Korea-China export prices. Pricing power should be enhanced in some less competitive industries.

Caring Households: The Social Ties that House

Individuals turn increasingly to informal and family welfare to secure housing as housing and household pressures mount in advanced homeownership societies. This article sheds light on the role of less visible, less considered relations (beyond intergenerational assistance) that are currently being marshalled by low and middle-income households in Melbourne (Australia) and showcases the under-explored breadth of dependencies that exist between co-resident non-spousal adults. Drawing on in-depth interviews, it drills within the “giver/receiver” model to reveal diverse (inter)dependencies within families (e.g. filial, intergenerational, sibling), and between non-related, non-spousal adults (e.g. platonic, professional, e.g. AirBnB). It shows how these bidirectional transactions involve often ambiguous, asymmetrical (i.e. not-like-for-like) exchanges of material and emotional support, which are often postponed. Associated uneven power dynamics are shown to script the domestic space of these cohabiters, variously structuring householders’ use, their (perception of) control and sense of home, and also to introduce tension, including threats to household stability. Others have identified a contemporary paradox: at a time when much policy and economic practice assumes subjects liberated from the obligations of social ties, individuals rely more than ever on intimate relations. This article builds on this curiosity identifying a broad range of social ties, including beyond the family, that are essential to helping city residents stay housed. It argues that as individuals grapple with welfare shifts, financial insecurity, and housing pressures, these ties take on heightened significance but they can also be tested: the pressures that housing-related dependencies place on coresident individuals have the potential to be highly gendered and, promises and expectations of reciprocity in particular, may become untenable for some individuals to uphold in the future.

Does the currency exposure affect stock returns of Chinese automobile firms?

This study examines the symmetric and asymmetric exchange rate exposures of Chinese automobile firms at different time horizons. Empirical findings reveal that firm returns are less likely to be affected by currency movements at short-term (daily) horizons due to restrictions on the currency daily trading band, but (a)symmetric exchange rate exposures appear to be significant at relatively longer horizons after the launch of RMB internationalisation, particularly for monthly horizons. Possible hedging strategies could be the application of forward exchange agreements, price difference between onshore and offshore RMB exchange rate, foreign reserves and other quantitative methods. Since returns of foreign capital shares tend to rise with the application of RMB, firms may also consider listing shares on foreign stock exchange in addition to the domestic market and produce products simultaneously in foreign nations through international expansion.

Effect of phonon-bath dimensionality on the spectral tuning of single-photon emitters in the Purcell regime

We develop a theoretical frame to investigate the spectral dependence of the brightness of a single-photon source made of a solid-state nanoemitter embedded in a high-quality factor microcavity. This study encompasses the cases of localized excitons embedded in a one-, two-, or three-dimensional matrix. The population evolution is calculated based on a spin-boson model, using the noninteracting blip approximation. We find that the spectral dependence of the single-photon source brightness (hereafter called spectral efficiency) can be expressed analytically through the free-space emission and absorption spectra of the emitter, the vacuum Rabi splitting, and the loss rates of the system. In other words, the free-space spectrum of the emitter encodes all the relevant information on the interaction between the exciton and the phonon bath to obtain the dynamics of the cavity-coupled system. We compute numerically the spectral efficiency for several types of localized emitters differing by the phonon bath dimensionality. In particular, in low-dimensional systems where this interaction is enhanced, a pronounced asymmetric energy exchange between the emitter and the cavity on the phonon sidebands yields a considerable extension of the tuning range of the source through phonon-assisted cavity feeding, possibly surpassing that of a purely resonant system.

How to de-dollarize financial systems in the Caucasus and Central Asia?

Dollarization rates in the Caucasus and Central Asia (CCA) region are among the highest in the world, with adverse consequences for macroeconomic stability, monetary policy transmission, and financial sector development. Using dynamic panel data models, we find that foreign exchange deposits and loans in the CCA are mainly driven by volatile inflation and exchange rates, low financial depth, and asymmetric exchange rate policies biased toward depreciation. Although there is no unique formula for success, empirical studies and cross-country experiences suggest that credible monetary and exchange rate frameworks, low and stable inflation, and deep domestic financial markets are essential ingredients of any de-dollarization strategy. In implementation, policymakers need to consider proper sequencing of policies, effective communication as well as risks from potential financial disintermediation and instability, and/or capital flight.