Optimum allocation in Bayesian stratified two-phase sampling when there arem-attributes

The problem of optimally allocating a sample amongk-strata at the second phase of a two-phase sampling procedure when the sampling is for proportion has been discussed byNewbold [1971] and then by the author [Khan, 1972].This paper deals with optimum allocation of the sample amongk-strata at the second phase of a two-phase sampling procedure, when the sampling is form-attributes. The problem is to estimate the proportion of each attribute in the population. Here (m–1) dimensional Dirichlet distribution is taken as the prior distribution.     

Nitrogen removal from pharmaceutical manufacturing wastewater via nitrite and the process optimization with on-line control.

In this study, laboratory scale experiments were conducted to investigate the nitrogen removal from pharmaceutical manufacturing wastewater. The results indicate that by selective inhibition of free ammonia on oxidizers, nitrogen removal can be achieved by nitritation and denitritation process. The nitrite ratio was above 98% in the aerobic stage and the nitrogen removal efficiency was about 99%. The complete ammonia removal corresponded exactly to the "Ammonia Valley" in the pH versus time graphic and the anoxic reaction was completed when the "Nitrite Knee" appeared in the ORP versus time graphic. Optimization of the SBR cycle by step-feed and on-line control with pH and ORP strategy allowed the carbon and energy saving. The easy operation and the low cost make the SBR system an interesting option for the biological nitrogen removal from the pharmaceutical manufacturing wastewater.     

Equilibrium and disequilibrium in the international money market

Zusammenfassung Gleichgewicht und Ungleichgewicht auf dem internationalen Geldmarkt. —In diesem Aufsatz wird versucht, die Ursache des Ungleichgewichts auf dem internationalen Geldmarkt festzustellen. Kurzfristige Kapitalbewegungen erfolgen, weil die Zinsunterschiede auf dem Geldmarkt nicht in vollem Umfang die erwarteten Wechselkurs?nderungen vorwegnehmen. Die Faktoren, die die Unterschiede in den Zinss?tzen bestimmen, sind andere als diejenigen, die den erwarteten Wechselkurs bestimmen. Als Ursachen für ein Ungleichgewicht auf dem internationalen Geldmarkt werden solche struktureller, monet?rer und institutioneller Art ermittelt. Die ersten betreffen Abweichungen von der Kauf-kraft-Parit?t und ?Fisher Open?, die zweiten Abweichungen von ?Fisher Closed? und die dritten beruhen auf der Begrenzung der Schwankungsbreite des Wechselkurses in einem entsprechenden W?hrungssystem. Die Ergebnisse sind, daβ Ungleichgewichte sowohl mit Abweichungen von der Kaufkraftparit?t als auch mit ?Fisher Open? erkl?rt werden konnten. Wechselkurs?nderungen scheinen eher strukturelle als monet?re Faktoren widerzuspiegeln. Die Zinsdifferenz ver?ndert sich nicht in Erwartung von Wechselkurs?nderungen.

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Résumé L’équilibre et le diséquilibre sur le marché international d’argent. —Cet article a essayé d’identifier les sources de diséquilibre sur le marché international d’argent. Les flux de capital à court terme se passent parce que la différence d’intérêt de marché d’argent n’anticipe pas complètement le change attendu dans le taux de change. Les facteurs déterminant la différence de taux d’intérêt se distinguent de ceux qui déterminent le taux de change anticipé. Les sources de diséquilibre sur le marché international d’argent furent identifiées comme structurelles, monétaires et institutionelles. La première comprend des déviations de la Parité de Pouvoir d’Achat et ?Fisher Open?, la deuxième comprend des déviations de ?Fisher Closed?, et la troisième comprend la confiance à un système de taux de change resserré. Les résultats sont que le diséquilibre pourrait être expliqué en manière de déviations de la Parité de Pouvoir d’Achat ou de ?Fisher Open?. Les changes de taux de change semblent refléter plus les facteurs structuraux que les facteurs monétaires. L’agio d’intérêt ne change pas en anticipation des changes de parités.

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Resumen Equilibrio y desequilibrio en el mercado internacional del dinero. —El presente artículo intenta identificar la fuente del desequilibrio en el mercado internacional del dinero. Flujos de capital de corto plazo ocurren debido a que las diferencias en la tasa de interés del mercado del dinero no anticipan completamente el cambio esperado en la tasa de cambio. Los factores que determinan la diferencia en la tasa de interés son distintos de aquéllos que determinan la tasa de interés anticipada. Las fuentes del desequilibrio en el mercado internacional del dinero fueron identificadas como estructurales, monetarias e institucionales. La primera fuente envuelve desviaciones del poder de compra de paridad y del ?Fisher Open?, la segunda envuelve desviaciones del ?Fisher Closed? y la tercera comprende la confiaza en un sistema de cambio estabilizado. Los resultados son que los desequilibrios podrían ser explicados en términos de desviaciones del poder de compra de paridad o del ?Fisher Open?. Cambios en las tasas de cambio resultan reflejar factores estructurales en vez de factores monetarios. La prima de la tasa de interés no cambia en anticipación de cambios en las paridades.

     

Non-Segmented Equilibria Under Differential Taxation: Evidence from the Canadian Government Bond Market

This paper investigates tax effects in the Canadian governmentbond market during the period 1964—1986. Unlike previousstudies, we apply both statistical and nonstatistical teststoanalyze clientele effects and market equilibria. The resultsdivide the sample into two distinct periods of time, with theend of 1976 marking the division. We find that tax effects arealmost nonexistent in the Canadian government bond market beforethe end of 1976, but are predominant in the post-1976 period.Non-segmented market equilibria cannot be rejected before 1977,but are strongly rejected after 1976. In fact, segmented equilibriawith clientele effects in both quantities and prices characterizethe entire five year period from 1982 to 1986. These findingsare consistent with tax reforms, government deficit financingand interest rate fluctuations in Canada during our sample period.     

山口水电站碾压混凝土坝变形性态分析

本文根据坝顶真空激光准直系统的观测数据,分析了坝顶的变形性态,揭示了寒冷地区碾压混凝土坝坝顶变形规律及影响因素。文章观点对同类坝型的运行管理,具有一定的参考价值。     

Enhanced removal of chemical oxygen demand, nitrogen and phosphorus using the ameliorative anoxic/anaerobic/oxic process and micro-electrolysis

Synthetic wastewater was treated using a novel system integrating the reversed anoxic/anaerobic/oxic (RAAO) process, a micro-electrolysis (ME) bed and complex biological media. The system showed superior chemical oxygen demand (COD), total nitrogen (TN) and total phosphorus (TP) removal rates. Performance of the system was optimised by considering the influences of three major controlling factors, namely, hydraulic retention time (HRT), organic loading rate (OLR) and mixed liquor recirculation (MLR). TP removal efficiencies were 69, 87, 87 and 83% under the HRTs of 4, 8, 12 and 16 h. In contrast, HRT had negligible effects on the COD and TN removal efficiencies. COD, TN and TP removal efficiencies from synthetic wastewater were 95, 63 and 87%, respectively, at an OLR of 1.9 g/(L·d). The concentrations of COD, TN and TP in the effluent were less than 50, 15 and 1 mg/L, respectively, at the controlled MLR range of 75-100%. In this system, organics, TN and TP were primarily removed from anoxic tank regardless of the operational conditions.     

Discretionary accounting choices and the predictive ability of accruals with respect to future cash flows

Using a sample of restatement firms and a meet-or-beat model to classify firms as making discretionary accounting choices for opportunistic meet-or-beat (OP-MB) reasons, we show that originally reported earnings and accrual components are less predictive of future cash flows relative to the restated numbers. We find the opposite is true for firms classified as making discretionary accounting choices for non-OP-MB reasons. We consider a number of competing explanations for these latter results. Our findings are most consistent with the informational hypothesis, weakly consistent with conservative-motivated efficient contracting hypotheses, but inconsistent with opportunistic contracting and misapplication/errors of GAAP explanations.