Displacement mitigation–oriented design and mechanism for inerter-based isolation system

The inerter-based isolation system, which comprises an inerter, a dashpot, and a spring, has been shown to be effective for improving the dynamic performance of isolated structures. However, the underlying theoretical basis of its vibration control mechanism has not been studied for superstructures with inerter-based isolation system; in particular, the functionality of the inerter has not been explicitly demonstrated. In this study, the displacement mitigation mechanism is established by deriving a fundamental equation, designated as the displacement demand equation. The mechanism is explained by clarifying the functionality of the inerter-based isolation system to determine the theoretical relationship between the displacements of the superstructure and isolation layer. A nominal displacement demand ratio is defined to evaluate the overall displacement demand of the structure–inerter-based isolation system, by considering the contribution of the inerter-based isolation system. Following the displacement mitigation mechanism, design strategies are developed for inerter-based isolation system, where the isolation frequency ratio can be directly determined once the target displacement performance of the entire structure–inerter-based isolation system is prespecified. In addition, the inertance-mass ratio and damping ratio of the inerter-based isolation system can be obtained according to the target demand of the superstructure displacement. Finally, a series of examples are used to verify the derived displacement demand equation and proposed design strategy. In this study, the displacement mitigation mechanism yields an effective design method that is suitable for the inerter-based isolation system and has a clear physical basis. Through the proposed displacement mitigation–oriented optimal strategy, a target displacement demand for a structure can be satisfied directly, which also provides an optimized displacement performance for the isolation layer. The displacement mitigation mechanism and equation are practical for the simplification of the design procedure and help to reveal the advantageous features of the inerter-based isolation system.

An econometric model for demand of pulpwood market in Brazil

The pulp industry has a great importance to the economy of Brazil and despite of being one of the biggest producer in the world this industry is still expanding in the country. In spite of the importance of the planted forests as main source for the pulp industry and other products, pulpwood for the cellulose market has received little attention in Brazil. Therefore, the objective of this research is the study of pulpwood demand in Brazil from 1994 to 2016, using econometric tools, where the demand equation was specified and adjusted by the Ordinary Least Squares method. The results showed that pulpwood price and the capacity of the pulp industry explain the pulpwood demand with good econometric results. The pulpwood demand is inelastic to price fluctuations and elastic to installed capacity. These results are consistent with the international estimations and they can assist projecting policies that promote more rational and sustainable management of the wood and consequently the forests.

The labour market of Russia’s Kaliningrad exclave amid Covid-19

The Covid-19 pandemic, which has swept across the globe, is a serious challenge to the Russian labour market. This article examines the consequences of Covid-19 for Russia’s Kaliningrad exclave and how its territorially isolated and lockdown-affected small labour market responds to drastic changes in employment, income, and consumption. Another question is how the immigrant-rich labour market will rebalance the supply-demand equation. Official statistics from the regional government and its subordinate bodies shows that the Kaliningrad regional labour market has been severely battered by shutdown measures. This particularly applies to organisations operating in the most sensitive industries: manufacturing, hospitality, tourism, estate, transport, and warehousing. The unemployment has gone up, reaching a level above the national average; the number of vacancies is dwindling. Keeping the proportion of out-of-the-region workforce at the usual level may aggravate the situation. Although effective, the measures taken by the regional authorities seem insufficient for an isolated regional labour market.

Market Power And Efficiency Of Commercial Banks In Indonesia

In order to encourage credit growth that experienced sluggishness from 2012 to 2016, Bank Indonesia sought to increase lending by lowering the benchmark interest rate so that it could be followed by a decline in lending rates by banks in Indonesia. But this is thought to cause competition to become a low oligopoly and decrease efficiency. This study aims to determine the factors that affect the amount of credits paid, estimating the market power and efficiency of commercial banks in Indonesia for the 2012-2016 period. Efficiency method used is Data Envelopment Analysis, while to estimate market power using two stage least square. The results of the demand equation show GDP and WCCR_GDP have no significant effect while the rest variables have significant effect. From the two equations using Bresnahan-Lau’s model, market power is 0.231. Efficiency measurement obtained a good efficiency scale even reaching 100% in 2013, 2015 and 2016.

Currency demand stability in the presence of seasonality and endogenous financial innovation

Purpose This paper aims to examine the stability of the currency demand function for India with private consumption expenditure, tax–gross domestic product ratio and deposit rate as explanatory variables for the period 1996:1 to 2014:4. Additionally, this paper also tries to detect the presence of endogenous financial innovation in the currency demand function. Design/methodology/approach For the theoretical foundation of the study, this paper has used a modified version of money-in-the-utility function. To examine the stability of currency demand function empirically, seasonal cointegration technique developed by HEGY (1990) and EGHL (1993) was applied. Finally, to detect the presence of endogenous financial innovation in the currency demand equation, the Gurley and Shaw (1960) hypothesis was tested by presenting the currency demand equation in a state–space form. Findings The empirical findings show that there is the absence of long-run cointegrationg relationship among the variables at the zero and annual frequency; however, there is evidence of a relationship among the variables at the biannual frequency. Moreover, the time-varying coefficient of deposit rate elasticity, used to test the Gurley–Shaw hypothesis, suggests that innovations in financial markets, especially improvements in the payment technology, raise the deposit-rate elasticity, beginning from 2010 onward. Practical implications The empirical results of the paper suggest that there would be shrinkage of currency demand in future. From the monetary policy angle, the Reserve Bank of India needs to adapt adequately to a situation of shrinking demand for currency. Originality/value Apart from using seasonally unadjusted data to examine currency demand function for India, this study, for the first time, and to the best of the authors’ knowledge, tries to test the evidence of financial innovation in India by testing the Gurley–Shaw hypothesis. The findings of the study will have significant implication in the planning of the issue and distribution of currency in the fast-changing economic environment.

Impacts of Highway Infrastructure Investment Under the American Recovery and Reinvestment Act

This study evaluated the impact on highway demand of highway disbursements under the American Recovery and Reinvestment Act (ARRA). Vehicle miles traveled were used to estimate a highway demand equation employing a spatial Durbin model for the 48 contiguous U.S. states during 1994-2008. Estimates from the equation were used to test the hypothesis that highway disbursements caused different upward shifts in the highway demand curves of states. We estimated $8.2 billion in total net benefits for the 48 states as a result of the $27.2 billion in ARRA highway disbursements, yielding an average net benefit of $0.30 per dollar spent.

A Modified Baumol Approach-Optimal Withdrawal and Holding of Cash Liquid Assets

<p>Baumol developed an equation for the transaction demand for money. It is affected positively by cost per withdrawal and transaction value, and negatively by the interest loss from holding cash.</p><p>Our objective is to modify the Baumol equation by including another factor. The demand for money is also affected by the customer concern that holding a more available liquid asset encourages more spontaneous purchases with resulting losses in their real value. We develop a new theoretical model by adding to the original Baumol cash demand equation another demand for a deposit which has positive yield and is less liquid. Holding this deposit restrains some of the spontaneous purchases. This modified Baumol equation leads to the following new results: Customers withdraw cash more often; maintain, on average, a smaller cash balance and larger amount of less liquid assets; and reduce their spontaneous and “nonrational” purchases.</p>