High Exchange Rate Research Articles

Temporal variability in evapotranspiration and energy partitioning over a seasonally flooded scrub forest of the Brazilian Pantanal

Brazilian Pantanal is the largest seasonal wetland in the world and it plays an important role in regulating the local and global water cycle and energy balance. The Pantanal landscape consists of a mosaic of temporary and permanent aquatic habitats, floodable and non-floodable pastures, and forests; however, patterns of energy exchange are poorly understood, especially for seasonally flooded forests. Thus, the main objective of this research was to assess the variability of evapotranspiration (ET) and to evaluate biophysical controls on ET for a seasonally flooded scrub-forest. We used eddy covariance to measure latent (LE) and sensible (H) heat fluxes and linked both micrometeorological and remote sensing data to assess the connection between water dynamics and phenology. Our data suggest that 72% of the net radiation (Rn) was consumed by LE + H, even during the dry season, indicating that trees can access deep water when surface water is limiting. The decoupling factor (0.63 ± 0.08) suggests that the canopy is decoupled from the atmosphere and ET is essentially sensitive to Rn. The patterns of ET and vapor pressure deficit suggest that ET was more dependent on the Rn received and less dependent on stomatal control, but still exhibited a strong relationship with biotic factors such as enhanced vegetation index (EVI), which is sensitive to seasonal variations in leaf area index and canopy cover. Stomatal limitations of this seasonally flooded forest appear to be minimal, even in the dry season, presumably due to the relatively high-water table, the ability of trees to acquire subsurface water, and the predominance of secondary species with high rates of leaf gas exchange. These data indicate that seasonally flooded tropical forests of the Pantanal are consistent sources of water vapor to the atmosphere even during seasonal drought.

Exchange Rate Uncertainty Effects on Domestic Investment in South Africa

The main goal of this study is to examine the effect of real effective exchange rate uncertainty on domestic investment for the South African economy over the sample period 1985Q1–2019Q2. To address this objective, Jordà’s (2005) local projection method is employed in this study. The generalised impulse response functions indicate that domestic investment decreases between the second and seventh quarters in response to one standard deviation shock in exchange rate uncertainty. Furthermore, high exchange rate uncertainty affects domestic investment negatively while low exchange rate uncertainty affects domestic investment positively. In other words, domestic investment declines due to a rise in exchange rate uncertainty while a drop in exchange rate uncertainty enhances domestic investment. Regarding the effects of control variables, output and export influences domestic investment positively and significantly. Inflation, however, has a negative and significant effect on domestic investment. Lastly, the Diks–Panchenko nonlinear Granger’s causality confirms bidirectional causality between exchange rate uncertainty and domestic investment. JEL Classification: C32, E22, F31, F41

The effects of FX-interventions on forecasters disagreement: A mixed data sampling view

We analyse the heterogeneity of exchange rate forecasts by a panel of professional forecasters. Adopting the view that forecasters’ economic behaviour is such that they constantly collect, process and analyse relevant information when producing forecasts, we apply a Mixed-Data Sampling (MIDAS) regression approach. This enables us to explore the roles played by key drivers for which available data are at different frequencies from forecast disagreement. Examining the Colombian peso/U.S. dollar exchange rate, we find that central bank intervention is most effective in reducing heterogeneity in the very short-run, and when conducted against a background of high exchange rate volatility.

The Effect of Inflation, Exchange Rate, BI Rate and Dow Jones Index to Indonesia Composite Index in Indonesia Stock Exchange on the Year 2013-2018

The purpose of this study is to demonstrate the influence of inflation, currency exchange rates, SBI interest rates, and the Dow Jones index on the Jakarta Composite Index on the Indonesian Stock Exchange from 2013 to 2018. Methods of quantitative research utilizing Structural Equation Modeling (SEM) analytic techniques in conjunction with the use of SmartPLS 3. The findings of this study indicate that inflation has a substantial negative influence on the CSPI. This indicates that as inflation increases, the JCI decreases. The exchange rate has a substantial negative effect on the JCI. This demonstrates that the exchange rate variable has a direct effect on the direction of the high exchange rate, lowering the JCI in the process. The SBI interest rate has no effect on the JCI and is rather detrimental to it. This indicates that when the number of SBI interest rates increases, the CSPI remains same. The Dow Jones index has a sizable positive correlation with the CSPI. This indicates that the Dow Jones index's rise has an effect on the JCI. By a factor of 0.982, the Dow Jones Index has the greatest effect on work motivation, followed by inflation, exchange rates, and SBI interest rates on the IHSG on the 2013-2018 Stock Exchange.

The Effect of Inflation, Exchange Rate, BI Rate and Dow Jones Index to Indonesia Composite Index in Indonesia Stock Exchange on the Year 2013-2018

The purpose of this study is to demonstrate the influence of inflation, currency exchange rates, SBI interest rates, and the Dow Jones index on the Jakarta Composite Index on the Indonesian Stock Exchange from 2013 to 2018. Methods of quantitative research utilizing Structural Equation Modeling (SEM) analytic techniques in conjunction with the use of SmartPLS 3. The findings of this study indicate that inflation has a substantial negative influence on the CSPI. This indicates that as inflation increases, the JCI decreases. The exchange rate has a substantial negative effect on the JCI. This demonstrates that the exchange rate variable has a direct effect on the direction of the high exchange rate, lowering the JCI in the process. The SBI interest rate has no effect on the JCI and is rather detrimental to it. This indicates that when the number of SBI interest rates increases, the CSPI remains same. The Dow Jones index has a sizable positive correlation with the CSPI. This indicates that the Dow Jones index's rise has an effect on the JCI. By a factor of 0.982, the Dow Jones Index has the greatest effect on work motivation, followed by inflation, exchange rates, and SBI interest rates on the IHSG on the 2013-2018 Stock Exchange.

Numerical investigations of nanosecond surface streamers at elevated pressure

Single-pulse nanosecond surface dielectric barrier discharges operated in synthetic air and pure nitrogen at elevated pressure (6 bar) have been numerically studied by the classical fluid method. The aim of this work is to provide the necessary basis for analyzing the surface streamer-to-filament transition phenomenon. The electrical parameters, discharge morphology and propagation dynamics, as well as the possible influence of photoionization, kinetics and gas heating on the surface streamer stage at elevated pressure are discussed in a combined numerical-analytical way. A good agreement between measurement, numerical simulation and analytical estimation is achieved. The streamer thickness is derived to be inversely proportional to the pressure, the average reduced electric field in the streamer channel ranges from 75–150 Td, and the average electron density in the channel is ∼1022 m−3 for both polarities. The characteristic time of electron decay in the positive streamer channel is only on the order of ∼1 ns due to high charge exchange and electron-ion recombination rates. Photoionization provides an ionization source of 1027–1028 m−3 s−1 in front of the streamer head for both gases. Stepwise ionization/dissociation significantly affects the discharge dynamics of negative polarity SDBD, while for positive polarity this influence is negligible. The fast gas heating could lead to ±0.15 cm change of the positive streamer length. The secondary surface ionization wave is numerically observed, providing a time duration 0.25–0.5 ns of high electric field (230 Td), making it possible for streamer-to-filament transition kinetics to take place.

Preservation of Indigenous Fungal Cultures by Freeze Drying Technique using Skim Milk and Honey as the Protectants

COVID-19 pandemic movement restrictions as part of the control measures put in place by countries in Sub-Saharan Africa (SSA) has implications on many sectors which include very high costs of importing materials owing to high exchange rates as well as non- availability of microbial cultures for food/ industrial productions, medical/academic research and applications because of fear of new microbial infections and bio-terrorism. Overcoming these challenges in SSA requires developing better policies and packages to confront the challenges by way of rebooting their strategies and policies for sustainable economic growth through reawakening the potentials they have. The maintenance and production of reliable pure microbial cultures with desirable quality is a key operation and is the first significant stage in the success of fungal applications in any scientific venture where they are used. For many years the process of freeze-drying (lyophilisation) has been employed primarily with the purpose of preserving living materials, including microorganisms, for extended periods of time; this is possible because, upon dehydration, substances no longer change as a consequence of the usual turnover of metabolic reactions characteristic of the living condition. This study assessed lyophilization (freeze drying) of some indigenous filamentous fungal cultures (Spores) using skim milk and honey (supports being maize and cassava flours) as the protectants and then critically compared the two protective media for the preservation of active filamentous fungi spores for the first time, and from the data obtained, their applications were optimised. Some fungal isolates(Aspergillus sp., Mucor sp., Penicillum sp., Fusarium sp., Rhizopus sp., Cladosporium sp. Alternaria sp. and Geotricum sp.) previously purified and identified were obtained from the Products Development Unit, National Biotechnology Development Agency, Abuja, Nigeria and were re-validated where their viability and purity were confirmed. The samples were Freeze Dried in the respective medium and monitored immediately after. After the freeze‐drying, the residual water contents were between 0.20-0.32%, 0.39-0.49% and 0.33-0.41%, respectively, with skim milk, Honey with Cassava Starch and honey with Maize Starch. The driedspore viabilities were between 96% (Aspergillus spores in Reconstituted Skim Milk) and 21% (Geotricum spores in Honey with Cassava Starch. Among the protective agents used, skim milk was found to be the best protectant.Each fungal isolate was considered viable if the rate of growth present was the same as that of the original culture and if the morphology of the colony matched the fungal identification documented for each species. All lyophilized fungal species were found viable from both type of lyophilized materials, skim milk and honey and showed the initial colony characteristics and growth rates.

Hyperinflation, depression, and the rise of Adolf Hitler

Hyperinflation, depression, and the rise of Adolf Hitler

Spatial distribution of cations through Voronoi polyhedrons and their exchange between polyhedrons in sodium silicate liquids

We study the spatial distribution of cations (Si and Na) through Voronoi polyhedrons around O and their exchange between polyhedrons in molecular dynamics models of sodium-silicate liquids. The result shows that most Na atoms reside in polyhedrons with specific configurations of Si and Na numbers. The fraction of polyhedrons with the same Si and Na index varies strongly with SiO2 content of the liquid. The average volume for polyhedrons with Si = 0, 1 and Na = 1, 2, 3 is found to vary from 31.78 to 35.09 Å3, and is smaller than 27.27 Å3 for the ones with Na = 0. The observed very fast diffusivity of sodium is caused by high rate of Na exchange between polyhedrons. The Na exchange is realized by two ways: 1) hopping between nearest neighbor polyhedrons and 2) collective displacement of a group of Na along a chain of polyhedrons. Within the time scale of the simulation the structure is strongly heterogeneous with a separate diffusion pathway where the majority of Na move, and a sodium-free silica domain. By analyzing the flow of Na and density of Na, Si, O in a fixed cubic lattice we find the exhibition of dynamics and chemical heterogeneity in the liquid.

Photo-electric capacitive deionization enabled by solar-driven nano-ionics on the edges of plasma-made vertical graphenes

Unimpeded ion traffic in carbon materials with ionic selectivity remains a challenge in electrochemical energy storage and chemical purifications represented by capacitive deionization (CDI) of potable and industrial water. In this work, a new concept of solar nano-ionics is developed to directly feed solar energy into photocarriers and localized electric fields near the edges of graphene nanostructures that enable effective, mobility-based ion transport with high mass exchange rates and selectivity. This concept is applied to demonstrate the new approach for CDI, namely the photo-electric capacitive deionization (PECDI), enabled by the solar-enhanced ionic transport. Materialized by edge-enhanced vertical graphenes (eVG), the photocarriers are localized along the edge nano-antennas of eVG to boost the edge-localized electric fields by two orders of magnitude, as confirmed by near-field photo-induced force microscopy. The localized photo-electric fields control and restructure the nano-ionic flows leading to selective transport of ions with different mobility and dramatically enhanced kinetics, as validated by in situ electrochemical quartz crystal microbalance measurements and molecular dynamics simulations. With the photo-enhanced ionic transport kinetics, an average adsorption capacity of 33 mg g−1 at 200 mg L–1 (165 mg g−1 at 5000 mg L–1), a fast adsorption/desorption response and the impressive efficiency are achieved. This work opens a new avenue for solar-enhanced nano-ionic manipulation, which can be extended for a broad range of chemical engineering, energy, and environmental applications.

The Effect of Inflation, Exchange, SBI Interest Rate and Dow Jones Index on JCI on IDX 2013 – 2018

This analysis aims to display inflation, exchange rates of currencies, SBI, and the Dow Jones Index on IHSG and IDX from 2013 to 2018. Quantitative testing approaches using the SmartPLS 3 technology and Structural Equation Modeling (SEM) analysis techniques. Inflation has a large positive effect on the JCI. Which indicates that as inflation rises, the JCI value falls. Exchange rates significantly impact the JCI. Therefore, the exchange rate indicator directly affects the path of the high exchange rate, which reduces the JCI figure. The SBI rate has no Impact and negative on JCI. This means JCI would not be affected by the increased number of SBI interest rates. For the Dow Jones Index, the JCI is significantly positive. Which suggests that the Dow Jones index's rise has an effect on the JCI. The Dow Jones Index has the most impact on work motivation, at 0.982, in contrast to the inflation, exchange rate, and SBI interest rate variables against the IHSG of IDX from 2013 to 2018.

Anomalous cell sorting behavior in mixed monolayers discloses hidden system complexities

In tissue development, wound healing and aberrant cancer progression cell–cell interactions drive mixing and segregation of cellular composites. However, the exact nature of these interactions is unsettled. Here we study the dynamics of packed, heterogeneous cellular systems using wound closure experiments. In contrast to previous cell sorting experiments, we find non-universal sorting behavior. For example, monolayer tissue composites with two distinct cell types that show low and high neighbor exchange rates (i.e., MCF-10A & MDA-MB-231) produce segregated domains of each cell type, contrary to conventional expectation that the construct should stay jammed in its initial configuration. On the other hand, tissue compounds where both cell types exhibit high neighbor exchange rates (i.e., MDA-MB-231 & MDA-MB-436) produce highly mixed arrangements despite their differences in intercellular adhesion strength. The anomalies allude to a complex multi-parameter space underlying these sorting dynamics, which remains elusive in simpler systems and theories merely focusing on bulk properties. Using cell tracking data, velocity profiles, neighborhood volatility, and computational modeling, we classify asymmetric interfacial dynamics. We indicate certain understudied facets, such as the effects of cell death & division, mechanical hindrance, active nematic behavior, and laminar & turbulent flow as their potential drivers. Our findings suggest that further analysis and an update of theoretical models, to capture the diverse range of active boundary dynamics which potentially influence self-organization, is warranted.

Impact of Exchange Rate Threshold Level on Stock Market Performance-Evidence from Ghana

Exchange rate plays a vital role in an economy and the purpose of this study is to investigate the impact of exchange rate threshold level on the capital market performance. The study employed a Threshold Autoregressive model introduced by Tong (1978) and Hansen (1996). The study used secondary quarter-time series data for thirty-years from 1990 to 2019. The capital market performance was measured by the value of shares traded; market turnover; market capitalization and all-shares index. However, the results revealed the following estimated threshold level of exchange rate for each performance indicator: 7.94%; 25.33%; 25.33% and 7.80% respectively. In all, the threshold level of the exchange rate estimated was 8 and 25 per cent. The findings suggest that low exchange rate is performance-enhancing. In addition, the exchange rate above the threshold level is detrimental to the capital market performance. The findings of this investigation might be helpful to the government of Ghana and policymakers as they settle on an exchange rate target to adopt to avoid the detrimental effects of high exchange rate while obtaining the growth benefits of the low exchange rate. It has indicated that the exchange rate impacts the economy more than inflation in the Sub Saharan Africa but, not much works in the subject area in Sub Saharan Africa. Therefore, I recommend that more threshold studies have to be carried out on the exchange rate in the other sectors of the economy to ascertain its impact on the economy.

Discussion on Installation and Maintenance of Optical Fiber Transmission Equipment Based on Computer Controlled Mode

Optical fiber transmission is a new technology emerging in recent years. Because of its convenience and simple operation, it has been widely welcomed and promoted by all sectors of society. However, the optical fiber transmission technology is still in the stage of application, the development is not perfect. This paper mainly describes the installation and maintenance of the equipment in the process of optical fiber transmission, so as to achieve long distance, high rate of data exchange and storage. With the increase of communication distance and speed, optical fiber communication has become the mainstream communication mode by virtue of its characteristics. An era of optical communication has arrived.

Crisis of Industrial Regions in the Midwestern USA: the First Stage (the mid-1960s – early 1980s)

he systemic crisis of old industrial regions in many countries of the world is a very important historical phenomenon of recent decades. This article examines the decline of traditional industrialism in the Great Lakes region of the United States as an example of such events. The article covers the first stage of the regional crisis (the mid-1960s – early 1980s). The study is based on historical statistics, as well as on various non-quantitative data. It is argued that the onset of the crisis was associated with aggravated competition – basic sectors of the local economy (steel manufacturing, automotive industry, etc.) were increasingly lagging behind advanced factories located in the southern states of the USA, as well as in Japan and Western Europe. Later the region (with some differences by industry and state) faced very deep failures during recessions of 1969–1970, 1974–1975 and 1980–1982, also experiencing constant pressure due to the high dollar exchange rate. However, a further deterioration in the early 1980s drew public attention to the situation in the region, which contributed to the turn of local and federal authorities to more active anti-crisis politics.

Pyclen-Based Ligands Bearing Pendant Picolinate Arms for Gadolinium Complexation.

We report the synthesis of two pyclen-based regioisomer ligands (pyclen = 3,6,9,15-tetraazabicyclo[9.3.1]pentadeca-1(15),11,13-triene) functionalized with picolinic acid pendant arms either at positions 3,9-pc2pa (L5) or 3,6-pc2pa (L6) of the macrocyclic fragment. The ligands were prepared by the regiospecific protection of one of the amine nitrogen atoms of the macrocycle using Boc and Alloc protecting groups, respectively. The X-ray structure of the Gd(III) complex of L5 contains trinuclear [(GdL5)3(H2O)3]3+ entities in which the monomeric units are joined by μ2-η1:η1-carboxylate groups. However, the 1H and 89Y NMR spectra of its Y(III) analogue support the formation of monomeric complexes in solution. The Tb(III) complexes are highly luminescent, with emission quantum yields of up to 28% for [TbL5]+. The luminescence lifetimes recorded in H2O and D2O solutions indicate the presence of a water molecule coordinated to the metal ion, as also evidenced by the 1H relaxivities measured for the Gd(III) analogues. The Gd(III) complexes present very different exchange rates of the coordinated water molecule (kex298 = 87.1 × 106 and 1.06 × 106 s-1 for [GdL5]+ and [GdL6]+, respectively). The very high water exchange rate of [GdL5]+ is associated with the steric hindrance originating from the coordination of the ligand around the water binding site, which favors a dissociatively activated water exchange process. The Gd(III) complexes present rather high thermodynamic stabilities (log KGdL = 20.47 and 19.77 for [GdL5]+ and [GdL6]+, respectively). Furthermore, these complexes are remarkably inert with respect to their acid-assisted dissociation, in particular the complex of L5.

Viral speciation through subcellular genetic isolation and virogenesis incompatibility

Understanding how biological species arise is critical for understanding the evolution of life on Earth. Bioinformatic analyses have recently revealed that viruses, like multicellular life, form reproductively isolated biological species. Viruses are known to share high rates of genetic exchange, so how do they evolve genetic isolation? Here, we evaluate two related bacteriophages and describe three factors that limit genetic exchange between them: 1) A nucleus-like compartment that physically separates replicating phage genomes, thereby limiting inter-phage recombination during co-infection; 2) A tubulin-based spindle that orchestrates phage replication and forms nonfunctional hybrid polymers; and 3) A nuclear incompatibility factor that reduces phage fitness. Together, these traits maintain species differences through Subcellular Genetic Isolation where viral genomes are physically separated during co-infection, and Virogenesis Incompatibility in which the interaction of cross-species components interferes with viral production.

Research on volatility spillover effect between foreign exchange and stock market based on computer simulation multi resolution analysis

In order to analyze the volatility spillover effect between foreign exchange and stock market, this paper adopts the wavelet multi-resolution analysis method of computer simulation. Firstly, aiming at the problem of high and low frequency oscillation and exchange rate de-noising, we adopts the generalized autoregressive conditional heteroskedasticity (GARCH) model to carry out the oscillation correction and exponential modification of the exchange rate denoising signal based on wavelet multi-resolution, and carries out the corresponding decomposition and fitting combined with the wavelet multi-resolution of the state transition GARCH. Then, through the computer simulation of the modified wavelet multi-resolution analysis, this paper studies the volatility spillover effect between the foreign exchange market and the stock market from different scales, so as to explore the simultaneous research from the time domain and frequency domain. The empirical results show that the low-frequency signals of RMB exchange rate volatility (RMB-ERV) and stock price volatility (SPV) have co-integration relationship. It is unique in that the volatility spillover effect in different trading cycles is inconsistent: in the short term, it is mainly manifested in the volatility spillover from the stock market (VS-SM) to the foreign exchange market (VS-FEM); and with the extension of the trading cycle, it shows both sides of effects on the VS.

Взаимодействие энергетического оборудования с сетевыми устройствами, поддерживающими интернет-протоколы прикладного уровня

The implementation of interaction between high-voltage power equipment with computer network devices in monitoring systems involves the use of proprietary Internet protocols that do not meet the criteria of free software and are not always compatible with the Internet protocols of personal computers. To solve this problem, it is proposed to use an intermediate link between the industrial and computer networks. This link is a network bridge built using the PPP protocol, which unites automatic devices equipped with UART interfaces with a computer network of the 802.11n (Wi-Fi) standard. The article presents several models for organizing bridges: a centralized network bridge on the side of a router and client computer, a distributed bridging system, and a dedicated bridge. Based on the accomplished analysis, it is recommended to use a centralized model for a network that has to comply with more stringent reliability requirements. If there is a need to have simultaneous access to several automation devices and high data exchange rates, a distributed model should be used. A dedicated bridge is used only in special cases, for example, when a high compactness is required in implementing a monitoring system.

Exchange rate co-movements and corporate foreign exchange exposures: a study on RMB

We estimate the time-varying co-movements of a large set of bilateral exchange rates/the RMB and explore their relationship with the firm-level exchange rate exposure in China. We find that firms’ exchange rate exposure increases in periods of high exchange rate co-movements. The co-movements of emerging market (EME) currencies have a weaker effect on exposure than the co-movements of developed market (DM) currencies. This effect is more pronounced after the launch of the One Belt One Road initiative, RMB inclusion in the SDR basket and in highly multinational firms, providing evidence that the RMB’s internationalization (i.e., its anchoring effect) has generally helped to reduce Chinese firms’ exposure to exchange rate fluctuations of EME currencies.