Search results for "TRADE"
showing 10 items of 1475 documents
On the Pricing and Hedging of Options on Commodity Forward and Futures Contracts - A Note
2007
In recent years there appeared some organized markets for forward contracts and options on these contracts. In this paper we review shortly the organization of trade on a centralized forward market. Assuming a friction-free market with constant interest rate we build a consistent continuous time framework for the valuation and hedging of options on a forward or a futures contract. This framework takes into account the peculiarities of a forward/futures contract. In our framework we consider the pricing and hedging of options on a forward contract and reconsider the Black-76 model for the pricing and hedging of options on a futures contract.
Germany Needs a National Stability Pact
2003
In many publications1, Horst Siebert has recommended that national fiscal policies within European Monetary Union be subjected to certain conditions in order to lay the foundation for a stable currency. Provisions to this effect have been laid down in Art. 104 of the EC Treaty and the European Stability and Growth Pact. The first “acid test”, however, has cast doubt on whether these provisions are sufficient to ensure sustainable solid public-sector finance in the member countries.
Cutaneous Exposure to the Superantigen Staphylococcal Enterotoxin B Elicits a T-Cell-Dependent Inflammatory Response
1996
We analyzed the impact of superantigens secreted by skin-colonizing Staphylococci on the skin and the associated lymphoid tissue following epicutaneous application and intracutaneous injection of small amounts of staphylococcal enterotoxin B (SEB). A single intracutaneous injection of 50 ng of SEB elicited a strong inflammatory response in the skin of BALB/c mice. Three to 6 h later, we observed langerhans cell activation, mast cell degranulation, vasodilation, upregulation of ICAM-1, and induction of VCAM-1 on dermal blood vessels, with vascular adhesion of granulocytes. by 12 to 24 h, cell infiltration of the dermis increased, reaching the epidermis. Among the infiltrating leukocytes, a s…
CLUSTER OF COUNTRIES ANALYSIS BY RESPONSIBLE COMPETITIVENESS, NATIONAL COMPETITIVENESS AND CORRUPTION
2008
The Global Competitiveness Report, the State of Responsible Competitiveness and the Global Corruption Barometer elaborate annually a countries ranking that emphasize the progress or regress of each country. Using this reports the paper try to make a clusters analysis of world country by responsible competitiveness, national competitiveness and corruption. The main idea of this paper is to split the countries in three categories of clusters - innovators, asserters and beginners - in relation between responsible competitiveness and national competitiveness - and - stars, asserters and beginners - in relation between corruption and national competitiveness. Within the three clusters, countries…
Calibrating a microscopic traffic simulation model for roundabouts using genetic algorithms
2018
The paper introduces a methodological approach based on genetic algorithms to calibrate microscopic traffic simulation models. The specific objective is to test an automated procedure utilizing genetic algorithms for assigning the most appropriate values to driver and vehicle parameters in AIMSUN. The genetic algorithm tool in MATLAB® and AIMSUN micro-simulation software were used. A subroutine in Python implemented the automatic interaction of AIMSUN with MATLAB®. Focus was made on two roundabouts selected as case studies. Empirical capacity functions based on summary random-effects estimates of critical headway and follow up headway derived from meta-analysis were used as reference for ca…
Is the productivity premium of internationalized firms technology-driven?
2020
AbstractWe ask whether the productivity advantage of internationalized firms documented by the international trade literature can be interpreted most accurately in terms of proximity to the “technological frontier”. We answer in the affirmative using a methodology (based on mixture models) of unbundling technology and total factor productivity (TFP) by estimating “technology-specific” production function parameters. Exploiting detailed data provided by the EFIGE database (a sample of firms distributed across Austria, France, Germany, Hungary, Italy, Spain, and the UK), we find technology gaps (with respect to the frontier) more than three times larger than the TFP gaps on average. We also f…
Anti-inflammatory and antiallergic activity in vivo of lipophilic Isatis tinctoria extracts and tryptanthrin.
2006
The effects of a supercritical CO2 (SFE) extract, a dichloromethane (DCM) extract from Isatis tinctoria leaf and the alkaloidal constituent tryptanthrin were studied in acute and subchronic experimental models of inflammation. The SFE and DCM extracts showed anti-inflammatory activity in the carrageenan-induced acute mouse paw oedema (ED50 values of 78 mg/kg and 165 mg/kg P. O., respectively) and in the acute tetradecanoylphorbol acetate (TPA)-induced mouse ear oedema in oral (62% and 32% oedema reduction at 100 and 125 mg/kg, respectively) and topical application (37% and 33% reduction of oedema at 0.5 mg/ear). In contrast, tryptanthrin showed no significant anti-inflammatory effect. The D…
Anti-Inflammatory Activity of Unusual Lupane Saponins fromBupleurum fruticescens
1998
Extracts from Bupleurum fruticescens were examined for oral and topical anti-inflammatory activities. The BuOH extract proved to be active against carrageenan and tetradecanoylphorbol acetate acute edemas and allowed the isolation of three saponins identified by spectroscopic techniques as 3 beta-O-(O-alpha-L-rhamnopyranosyl-(1-->4)-O-[beta-D-glucopyranosyl- (1-->6)]-O-beta-D-glucopyranosyl)lup-20(29)-ene-23,28-dioic acid (fruticesaponin A), 3 beta-O-(O-alpha-L-rhamnopyranosyl-(1-->4)-O-beta-D-glucopyranosyl) lup-20(29)-ene-23,28-dioic acid 28-O-beta-D-glucopyranosyl ester (fruticesaponin B), and 3 beta-O-(O-alpha-L-rhamnopyranosyl-(1-->4)-O-[beta-D-glucopyranosyl- (1-->6)]-O-beta-D-glucopy…
Road restraint systems monitoring with stereoscopic dip-technique
2015
Road restraint systems (RRS) are used to protect vehicle occupants from dangerous roadside elements such as rigid obstacles, slopes, utility poles, etc. The crashes on a road restraint system damage its structure and, therefore, the functional behavioral; for this reason is required monitoring the RRS into their operational conditions. The research addresses the problem of the measurement of safety barrier (SB) deformations by means digital image processing technique (DIP). This technique is founded on the analysis of high resolution photos/videos, obtained by means of 3D camera installed into a data vehicle. The DIP technique has been used for evaluating the longitudinal safety barriers de…
Remarkable Steric Effects and Influence of Monodentate Axial Ligands L on the Spin-Crossover Properties of trans-[FeII(N4 ligand)L] Complexes
2007
Iron(II) complexes obtained from tetradentate, rigid, linear N4 ligands have been investigated to appraise the influence of steric effects and the impact of trans-coordinated anions on the spin-transition behavior. As expected, the well-designed ligands embrace the metal center, resulting in octahedral iron(II) complexes where the basal plane is fully occupied by the pyridine/pyrazole N4 ligand, while anions or solvent molecules are exclusively axially coordinated. Precursor complexes, namely, [Fe(bpzbpy)(MeOH)2](BF4)2 (where bpzbpy symbolizes the ligand 6,6'-bis(N-pyrazolylmethyl)-2,2'-bipyridine) and [Fe(mbpzbpy)(MeOH)2](BF4)2 (where mbpzbpy symbolizes the ligand 6,6'-bis(3,5-dimethyl-N-p…