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In order to improve the effect of injection–production coupling development to improve crude oil recovery in complex fault-block reservoirs, we carried out a physical simulation experiment based on a sandpack model of transforming water-driven development into injection–production coupling development and quantitatively evaluated the influence of rounds of injection pressure coupling on the crude oil mobilization in reservoirs with different permeability levels and on oil recovery. Meanwhile, the characteristics of residual oil were studied via a numerical simulation method. The mechanism of increased oil production via injection–production coupling development was revealed by analyzing the water and oil contents, formation pressure, and streamline fields through the establishment of mechanism models. The results of the physical experiment show that injection–production coupling can improve the recovery effect of medium- and low-permeability reservoirs by 55.66%. With an increase in the injection pressure, the oil recovery percentage of the low-permeability sandpack model at 20 MPa is 100%, and this study finds that injection–production coupling is the main way to develop the recoverable oil in a low-permeability reservoir. The numerical simulation results show that among the four remaining oil distribution types (interwell-enriched, low-permeability zone-enriched, well network imperfection, and mismatch between injection and production), the interwell-enriched type of the remaining oil reserves accounts for the highest proportion (48.52%). The simulation results of the mechanism model show that water-driven development easily leads to streamline solidification, resulting in ineffective circulation of the injected water. Compared with conventional water-driven development, the pressure propagation range is significantly increased in injection–production coupling development. The reservoir streamline distribution is more continuous and uniform, and the flooding wave is wider in volume and range. This research provides a theoretical basis for the injection–production coupling technology policy in complex fault-block reservoirs. [ABSTRACT FROM AUTHOR]

Heilangou gold deposit is located in the east of Jiaobei area, and the proven gold reserves currently account for more than 70 % of that of Penglai area. The intrusive rocks related to mineralization in this area are rich in silicon, and alkali while lacking magnesium, with TFeO (1.22 %-12.36 %,with an average of 3.38 %),and the Rb mass fraction is less than 270×10-6. The REE chondrite-normalized distribution curve has an obvious right-leaning distribution model and weak positive Eu anomaly, and the w (Rb)/w (Nb) value is 7.8-36.0,which is A-type granite, with the characteristic of low-Mg adakites. The crystal ages of intrusive rocks measured by the LA-ICP-MS zircon U-Pb method are respectively (172.8±0.3)Ma, (172.8±0.4)Ma, and (174.0±0.4)Ma, which are all related to magmatic activity in the early Middle Jurassic. Heilangou gold area is mainly controlled by the lower crust and lithospheric mantle, and the source of ore-forming material is related to the partial melting of the crust and upwelling of lithospheric mantle and asthenosphere mantle, which belongs to the mixed material source of crust and mantle. [ABSTRACT FROM AUTHOR]

Background: The widespread use and misuse of antimicrobials are the major driving factor for antimicrobial resistance (AMR) that threatens the health of human beings globally. Thus, monitoring antimicrobial consumption at national level is crucial to prevent and contain AMR. Nevertheless, there is no well-established system for recording and reporting of antimicrobial consumption in Ethiopia. Hence, the national antimicrobial consumption survey was conducted to generate evidence for decision-making on the appropriate use of antimicrobials in Ethiopia and tackle AMR. Methods: All imported and locally manufactured antimicrobials from 2017 to 2019 were from the Ethiopian Food and Drug Authority and local manufacturers database, respectively. Data were collected and analyzed descriptively in accordance with the World Health Organization (WHO) Anatomical Therapeutic Chemical (ATC) and defined daily doses (DDD) classification and methodology. Results: The average DDD/1,000 inhabitants for all antimicrobials was 15.36. The DDD/1,000 inhabitants fell down sharply from 37.03 in 2017 to 4.30 in 2018, before slightly rising to 4.75 in 2019. The majority of the consumed antimicrobials were comprised of oral antimicrobials (98.6%), while parenteral antimicrobials made up 1.4%. Tetracyclines (35.81%), fluoroquinolones (20.19%), macrolides (13.92%), antiretrovirals (10.57%), and cephalosporins (9.63%) were the most frequently consumed classes of antimicrobials during the three years period. About 75.83% of the consumed antimicrobials fall under the WHO AWaRe classification and 67.87% of antimicrobial consumption was from the WHO Access class medications, with Watch and Reserve classes accounting for 32.13% and <1%, respectively. Similarly, about 86.90% of the antimicrobials fall under the Ethiopian AWaRe classification, with Access, Watch, and Reserve accounting for 87.73%, 12.26%, and <1%, respectively. Conclusion: Due to the peculiarities of our settings, our findings may have some similarities and differences with similar studies from other countries. Hence, we recommend for all concerned bodies to work collaboratively to improve monitoring of antimicrobial consumption at different levels of the Ethiopian healthcare tier system. Future work is necessary to establish a strong system of reporting of antimicrobial consumption patterns in Ethiopia. [ABSTRACT FROM AUTHOR]

Protection of cultivated land around cities has been an important topic in the territorial spatial planning, which is of great significance in guaranteeing ecological and food security and contributing to the sustainable development of cities. In this study, we quantified the synergistic relationship between natural quality characteristics and surrounding site conditions of cultivated land, by integrating the three-line demarcation requirements of permanent basic cultivated land red line, ecological red line, and urban development boundary. On the basis of Land Evaluation and Site Assessment (LESA) theory, this study establishes a cultivated land suitability evaluation system based on the comprehensive evaluation system of natural quality and site conditions, establishes cultivated land use and protection zones around the main urban area of Anshan City, and puts forward the control measures of cultivated land protection zones. The results showed that the cultivated land in the main urban area of Anshan could be divided into four types: permanent basic cultivated land area accounting for 80.7%, permanent basic cultivated land reserve area accounting for 10.15%, urban development boundary flexible use area accounting for 3.98%, and ecological restoration area accounting for 5.17%. The evaluation results reflected the differences in the cultivated land quality and site environment stability and integrated the policy requirements of the three-line demarcation. The layout of cultivated land around the main urban area was effectively explored, and the permanent basic farmland protection zone was delineated, which met the requirements of flexible development of urban boundaries and control of ecological red line for effective land use. [ABSTRACT FROM AUTHOR]

The western Baltic Sea cod (WBC) stock is at historically low levels, mainly attributed to high fishing pressure and low recruitment. Stable stock assessment metrics suggested recovery potential, given appropriate fisheries management measures. However, changing environmental conditions violate stability assumptions, may negatively affect WBC, and challenge the resource management. The present study explored 42 years of changes in WBC biological parameters. WBC body condition gradually decreased over the last decades for juveniles and adults, with a rapid decrease in recent years when a single cohort dominated the overfished stock. The hepato-somatic index and the muscle weight decreased by 50% and 10% in the last 10 years, respectively, suggesting severely decreasing energy reserves and productivity. The changes in energy reserves were associated with changes in environmental conditions (increase in bottom water temperature, expansion of hypoxic areas during late summer/autumn), and changes in diet composition (less herring). A key bottleneck is the warming and longer-lasting summer period when WBC, trapped between warmed shallow waters and hypoxic deeper waters, have to mobilize energy reserves to account for reduced feeding opportunities and thermal stress. Our results suggest that stock recovery is unlikely to happen by fisheries management alone if environmental trajectories remain unchanged. [ABSTRACT FROM AUTHOR]

The article highlights that many Arab countries have high spending without developing a solid revenue base or adequate emergency reserves, public debt levels have skyrocketed, and governments balance sheets have struggled to cope with waves of crises and their required responses. It also discusses that many Arab countries have faced compounded shocks in the humanitarian and health spheres, in real economic and financial trends, and in the management of their pre-existing sovereign debts.

This paper proposes a comprehensive methodology for determining the converter droop settings to ensure the voltage security in a multi-terminal direct current (MTDC) grid. The novelty lies in the introduction of the concept of over- and under-voltage containment reserves in analogy to the frequency containment reserves in AC systems. This not only gives a distinction of the contribution between the converters in rectifying and inverting modes, but also significantly facilitates the sizing of the necessary amount of reserves within their available headroom capacity of power. In particular, the constraints of converter outages, converter rating, and DC voltage deviations are all taken into account in the design of reserves. The effectiveness of the proposed approach is demonstrated by a contingency power flow analysis algorithm and EMT simulations of a four-terminal MTDC grid. [ABSTRACT FROM AUTHOR]

Global warming is increasing the vulnerability of ecosystems, especially in peninsular Spain. Biosphere Reserves are internationally protected areas that seek to protect biodiversity and, at the same time, promote sustainable development. Evaluating these protected areas is essential to verify environmental changes and establish priorities in their management. In this work, we have studied the time trends of NDVI in the high mountain Biosphere Reserves of Spain from 2001 to 2016 to check if the trend patterns are associated with some environmental variables. Significant differences were found between NDVI trends and high mountain Biosphere Reserves. Firstly, significant positive trends in NDVI were observed when analysing both reserves together. However, significant differences were found between the two reserves. The Ordesa-Viñamala Reserve shows higher positive NDVI trends and lower negative trends, while this pattern is reversed in Sierra Nevada. We observed how the fluctuations in temperature and drought due to climate change have already negatively affected the Mediterranean reserve (Sierra Nevada). In contrast, the alpine reserve (Ordesa-Viñamala) maintains positive NDVI trends. This study helps to close the gap in information related to Biosphere Reserves, which gives value to the work that is being carried out by the local communities that make up them, generating statistically significant results that Biosphere Reserves are protected areas that help us understand how to manage and govern socioecological systems sustainably. • The study assesses NDVI trend in the Spanish high mountain Biosphere Reserves. • We analysis the association between NDVI trends and environmental variables. • Significant differences in NDVI trend frequency found between the reserves. • Climate change is having effects on reserves NDVI trends. • Trend data is key to ensuring reserves take into account in political decisions. [ABSTRACT FROM AUTHOR]

Successive calamities, including bark beetle outbreaks and windthrow, have caused severe damages in German forests since 2018. The loss of forest stands as an important source of income makes it increasingly difficult for forest management to secure sustainable revenues, which in turn threatens the livelihood of many private forest enterprises. In addition, valuable ecosystem services are affected and there is a lack of financial resources for the necessary investments in reforestation and climate change adaptation. An online survey was used to investigate the attitude of private forest enterprises towards solving liquidity problems. [ABSTRACT FROM AUTHOR]

The complex pattern of gold production in Canada, which differs from the classic Hubbert´s curve, is modeled, and a short-term forecast is made, via the Fundamental Equation of Mineral Production (FEMP). For intervals of time with a variable production to reserves ratio, a discrete piecewise version of the equation updates the reserves and the Production to Reserves Ratio (PRR) by units of time. These piecewise linear portions of the PRR correspond to sub-cycles of rising and declining production embedded in the overall history of production. This version of the FEMP allows modelling of any pattern of mineral production at a universal range of scales. The Hubbert´s linearization indicates the official account of reserves underestimates the real amount of gold resources in Canada. The equivalence between the Hubbert's formula and the FEMP is introduced. The Hubbert curve is shown as a case study of the Fundamental Equation, featured as the product of a quadratic function of the cumulative production and a rational function of the PRR with time. The forecast for Canada's current gold production illustrates the metal output is about to peak with an all-time record high in the near future, unless new findings or influential global economic factors are introduced (i.e., a sharp and sustained growth of gold demand from regional markets), allowing an increase of the slope of the linear function featured by the PRR of the FEMP-based model. [ABSTRACT FROM AUTHOR]

Ch-chalcedony is a green colored member of the quartz group of gem stones. The appearance of Ch-chalcedony is very similar to that of chrysoprase. Differently, Ch-chalsedonies have a chromium element instead of a nickel element as a trace element. Green quartz used in jewelery as a seal stone, in necklaces and rings and has been one of the most valuable quartz varieties throughout history, with its beautiful green color, more rare than other quartz varieties. The Ch-chalcedonies in the North Anatolian region is yellowish-white, brownish gray, light green to dark green in color ranging from several centimeters to one meter thick in veins and lenses in the Lower-Middle Eocene dolomitic limestones. Ch-chalcedonies are composed of fine-grained and occasionally fibrous needle-like quartz; in some examples, quartz is present together with cristobalite, tridimite and cuspidine minerals. According to geochemical investigations in Ch-chalcedonies, the main oxides that were determined are as follows: SiO2 was observed in the range of 95.86-97.81%, Fe2O3 was observed in the range of 0.61-0.91% and Cr2O3 was observed in the range of 0.125-0.168%. A trace element analysis of Ch-chalcedonies, shows their significant enrichments in: Ni, Mo, Cu, Mn, V, Cr and W, especially in the Cr (up to 705 ppm). The green color of the studied Cr-chalcedonies originates from the element chromium. Taking the possible reserves into account, the hardness, color, massive structures, mineralogical, petrographical and gemological features of Ch-chalcedonies in the region are evaluated together. It is determined that they are suitable for the production of jewelry and ornaments. [ABSTRACT FROM AUTHOR]

This article examines steps taken at one academic library to address issues encountered when attempting to create a foundation of copyright knowledge to assist staff in reserves and interlibrary loan. It reviews the development of a copyright policy for the library that specifically addressed interlibrary loan and reserves activities. It also addresses how conducting staff instruction, developing process documentation, and having regular training meetings, enhanced each department's ability to incorporate the new policy into daily workflows. Finally, it points out new issues encountered when attempting to simplify how copyright and licensed materials are handled. [ABSTRACT FROM AUTHOR]

The article describes a method for estimating the U.S. government's overall programmatic credit risk exposure that recognizes the covariance across its guarantee programs. The government is urged to have a capital reserve for covering aggregate losses that is lower than the sum of the capital reserves appropriate for each separate guarantee program. Also presented is evidence of loss distributions of government-sponsored enterprises (GSEs) in the context of Fannie Mae and Freddie Mac.

The AquaCrop simulation model, originally designed for annual crops, is expanded here to simulate alfalfa, a perennial forage crop. A new routine was added to the model to mimic the assimilate partitioning between above and below-ground plant parts to account for the utilization of reserves in Spring and for their storage in the Fall. The simulation of the transfer of assimilates requires only three extra crop parameters which makes the model also easy to calibrate. To evaluate the model, yield data collected in Louvain-La-Neuve (Belgium), Isparta (Turkey), and Ottawa (Canada) for different alfalfa cultivars, various years and field and irrigation management strategies were used. To assess the accuracy and robustness of the simple assimilate remobilization process, simulations were run for the three different environments with a common set of crop parameters which were parameterized. The dispersion between the observed and simulated cumulative dry above-ground biomass during the growing cycle was small (r² = 0.97; nRMSE = 11%; Nash-Sutcliffe model EF = 0.97), and a systematic over- or underestimation by the model was not observed (Willmott's index of agreement, d = 0.99). When evaluating the goodness of fit of the 81 individual harvest events, the results were still very satisfactory although the nRMSE doubled. The simulations indicated that the AquaCrop model adapted to perennial crops and with a novel storage-remobilization routine, could predict well alfalfa yields in various climates and environments, with and without water and fertility stress, and for three different alfalfa cultivars. • The AquaCrop simulation model is expanded to simulate perennial forage crops. • A simple routine describes the transfer of assimilates between the above ground biomass and the below-ground storage organs. • Variations in partitioning along the season was simulated by increasing or reducing the crop water productivity. • Simulations were run with a common set of crop parameters for different years, alfalfa cultivars, climates, and environments. • The simulations indicated that AquaCrop can well predict the total yield of alfalfa that can be expected in various environments. [ABSTRACT FROM AUTHOR]

As librarians are increasingly identified as rights experts on campus, it is essential that they understand rights issues and how best to communicate them to a multitude of users. While scholarly literature contains many examples of librarians working with faculty on copyright issues regarding course materials, reserves, e-reserves, and intellectual property, there is far less documentation of the need for students, especially undergraduates, to understand their rights as creators and consumers of information. This article reviews relevant literature on librarian copyright skills, the need for copyright instruction, and current case studies and examples of copyright instruction for undergraduates. [ABSTRACT FROM AUTHOR]

Why have emerging market economies (EMEs) been stockpiling international reserves? We find that motives have varied over time; vulnerability to current account shocks was relatively important in the 1980s but, as EMEs became more financially integrated, factors related to the magnitude of potential capital outflows gained importance. Reserve accumulation as a by-product of undervalued currencies has also become more important since the Asian crisis. Correspondingly, using quantile regressions, we find that the reason for holding reserves varies according to the country's position in the global reserves distribution. High-reserve holders, who tend to be more financially integrated, are motivated by insurance against capital account rather than current account shocks and are more sensitive to the cost of holding reserves than are low-reserve holders. Currency undervaluation is a significant determinant across the reserves distribution, albeit for different reasons. [ABSTRACT FROM AUTHOR]

China is both a major trading partner of the United States and the largest official holder of U.S. assets in the world. The value of Chinese foreign exchange reserves peaked at just over $4 trillion in June 2014 but has since declined to $3.19 trillion (as of August 2016). This very large decline in foreign exchange reserves is unprecedented, and some analysts have speculated that continued sales of these (mostly U.S.) assets might significantly impact the U.S. and global economies. This article explains the reasons for this large decline in official assets, China's available policy choices, and how these choices could affect the U.S. economy. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to discuss more efficient mechanisms of regulation in the financial system.Design/methodology/approach The authors developed a theoretical two-period model of financial flows (FFs) that considers households, banks, and a social planner.Findings It is important to highlight that different from other studies that do not distinguish between financial crisis and financial instability, the authors assume financial instability does not mean crisis, but represents a deviation in the behavior of the aggregate financial intermediation and in the financial operations of each bank from the equilibrium.Practical implications The practical implication of the model is the proposition of an efficient policy for financial stability based on forward-looking financial regulations.Social implications An important result is that bank failures occur when banks do not maintain sufficient resources to support the liquidity constraint from the interbank market. Another result is that the central bank reacts, via exchange of reserves with the market, to financial instability. This behavior on the part of the central bank is inefficient because the banks will assume that in the case of failure they will be “saved;” thus it creates an adverse incentive (moral hazard) that can amplify the risk over the entire financial system.Originality/value The originality of the model is the proposition of an efficient policy for financial stability based on a forward-looking financial regulation. In this strategy the regulator acts in advance (ex ante) to minimize the mismatch of FFs in relation to the flow balance. This manner of acting is a counterpoint to the financial regulation based on capital requirement. [ABSTRACT FROM AUTHOR]

We study auctions with resale and reserve prices. We characterize the equilibrium, and compare the revenues of the first price auction with that of the second price auction. We show that several results change when a reserve price is introduced. First, the second-price auction may yield higher revenues than the first-price auction. Second, the strong bidder is more likely to win than the weak bidder. [ABSTRACT FROM AUTHOR]

We present evidence from 260,000 online auctions of second-hand cars to identify the impact of public reserve prices on auction outcomes. We exploit multiple discontinuities in the relationship between reserve prices and vehicle characteristics to present causal regression-discontinuity estimates of reserve price impacts. We find an increase in reserve price decreases the number of bidders, increases the likelihood the object remains unsold, and increases expected revenue conditional on sale. We then combine these estimates to calibrate the reserve price effect on the auctioneer's ex ante expected revenue. This reveals the auctioneer's reserve price policy to be locally optimal. ( JEL D44, L11, L62) [ABSTRACT FROM AUTHOR]

In recent years, numerous research works have been reported on the flexural response of aluminium alloy tubular cross-sections. However, studies on monosymmetric cross-sections and particularly channel (C-) sections are limited, albeit their increased usage in structural applications. This paper aims to address this knowledge gap providing an improved understanding about the minor axis bending behaviour of C-sections through an experimental and numerical investigation. In total 14 specimens made from 6082-T6 heat-treated aluminium alloy were subjected to four-point bending. Tensile coupon tests were also performed to determine the mechanical properties of the examined aluminium alloy. The obtained experimental results are analysed and discussed. A series of geometrically and materially nonlinear analyses were also carried out to study the flexural performance of C-sections in two aluminium alloys and two bending orientations over a range of cross-sectional aspect ratios and slendernesses. The experimental and numerical results are utilised to assess the European design standards. The applicability of the Continuous Strength Method and the Direct Strength Method is also evaluated. An alternative design method based on the plastic effective width concept is proposed for slender C-sections subjected to minor axis bending. This method accounts for the inelastic reserve capacity which is in accordance with the experimental and numerical observations. • Flexural response of aluminium alloy C-sections is investigated. • 14 four-point minor axis bending tests are reported. • A wide parametric study is carried out. • Current codified design provisions are assessed. • The plastic effective width method is proposed for slender C-sections under minor axis bending. [ABSTRACT FROM AUTHOR]

One of the primary and most important tasks of any central bank is conducting monetary policy in the state. In Macedonia the only central and issuing bank is the National Bank of Macedonia, which is responsible for the monetary and financial stability in the country, while performing important functions, without which the overall economic and financial system could not exist. In exercising its functions, the National Bank of Macedonia uses a set of economic instruments and policies, from which in RM the most efective is the required resserve. This monetary tool is showing the best results in developing countries where the financial markets are not developed and where there is a high concentration of the banking sector (in RM banks occupy a good 98% of total financial institutions). The role of the reserve will be analyzed through the prism of its effects on the process of multiplication the money supply in the country and its contribution to generating or withdrawal of money by the central bank. The main goal of the paper is to research the required reserve, as a monetary instrument, and to qualify its impact on the monetary creation in the Republic of Macedonia. The basic methods, used in this paper are the positive analysis, comparative analysis and deductive approach. [ABSTRACT FROM AUTHOR]

Previous literature believes that a commercial depreciation is associated with higher financial premium and more depletion of foreign reserves. This study re-investigates this belief. Analytical results indicate that a commercial depreciation with higher financial premium and more depletion of foreign reserves depend on the combined influences of the conditions that individuals are impatient as well as foreign interest rates are bigger than time preference rates rather than only policies of commercial depreciation. Non-distortion taxation does not solve the balance-of-payments difficulties. An exact negative relationship between foreign reserves and the financial premium cannot be found. [ABSTRACT FROM AUTHOR]

En este documento se analiza la viabilidad, las implicancias y los desafíos de ampliar el Fondo Latinoamericano de Reservas (flar) a la Argentina, el Brasil, Chile, México y el Paraguay. Se argumenta que un fondo regional de reservas debe concebirse como parte de una red amplia de mecanismos aportados por la arquitectura financiera internacional, para enfrentar problemas de balanza de pagos. Se plantea que un fondo de entre 9.000 y 10.000 millones de dólares permitiría cubrir las necesidades potenciales de financiamiento de sus miembros bajo escenarios de mayor posibilidad de ocurrencia, sin que necesariamente debiera actuar como prestamista de última instancia para todos los países integrantes. Respecto de escenarios más extremos, el fondo debería poder "ampliar sus espaldas" mediante otras instancias de la arquitectura financiera. Los mayores desafíos de aumentar la cantidad de sus miembros se plantean en términos de la gobernanza que tendría este fondo regional de reservas. [ABSTRACT FROM AUTHOR]

The purpose of this study is to examine the effects of transitions from local accounting regulations (GAAP) to International Accounting Standards and International Financial Reporting Standards (IAS/IFRS) on shareholders' equity. In our study, we used 144 manufacturing corporations listed on the Istanbul Stock Exchange (ISE). As a result of our analysis, we found that the conversion to IASs/IFRSs had statistically significant effects on shareholders' equity. In another finding, we identified that capital reserves and retained earnings or accumulated losses are most affected accounts in shareholders' equity. [ABSTRACT FROM AUTHOR]

Abstract: This paper proposes a novel financing scheme, reserve financing, for government infrastructure investment in China. A two-sector open economy model explores the consequences and policy implications of a surge in infrastructure investment financed by international reserves. The results show that reserve financing, coupled with a managed float exchange rate system, can maintain the country's fast growth rate while mitigating fiscal pressure on local governments. Productive infrastructure capital stimulates domestic demand, reducing the country's dependence on exports. To promote growth and maintain price stability, three factors are critical: return on infrastructure, swift fiscal adjustment, and rapid infrastructure financing. [Copyright &y& Elsevier]

The United States has relied heavily on reserve accumulation by foreign central banks to finance its current account deficit since 2000 on. However, the currency composition of reserves has changed gradually over the past decade and the share of U.S. dollar holdings has steadied. This fact may imply that the U.S. will need to start its adjustment process very soon. [ABSTRACT FROM AUTHOR]

Las reservas internacionales constituyen una de las herramientas de que disponen los bancos centrales para proporcionar un seguro de liquidez y hacer frente a contingencias futuras y a cambios repentinos en los flujos de capitales. Este trabajo analiza los factores económicos que explican el comportamiento de las reservas en el caso argentino. Atal efecto, se estiman modelos de VEC (vector de corrección de errores), con datos trimestrales de ese país, que cubren el período 1994-2013. Los resultados muestran que el PIB real y el riesgo país serían los principales determinantes de la volatilidad en las reservas, mientras que otros factores, como los términos del intercambio y los componentes de la balanza de pagos (balanza comercial y cuenta capital y financiera, respectivamente) habrían sido menos importantes. [ABSTRACT FROM AUTHOR]

The rapid growth in international reserves accumulation in many emerging Asian economies has challenged economists with a puzzle and has revitalised the reserves adequacy literature recently. Recent works mostly focus on a large group of countries in trying to explain such behaviour. However, this paper aims to assess reserves adequacy for Thailand in particular. We see that taking into account the catastrophic impact of the 1997 Asian financial crisis, the rapid development and worldwide integration of financial systems, the current high level of Thailand's reserves seems reasonable subject to some modifications in the traditional rules and theoretical approaches used in this paper to justify the reserves level in Thailand over the past decades. [ABSTRACT FROM AUTHOR]

Development of adequate diving capabilities is crucial for survival of seal pups and may depend on age and body size. We tracked the diving behavior of 20 gray seal pups during their first 3 mo at sea using satellite relay data loggers. We employed quantile analysis to track upper limits of dive duration and percentage time spent diving as well as lower limits of surface intervals. When pups first left the breeding colony, extreme (95th percentile) dive duration and percentage time spent diving were positively correlated with age, but not mass, at departure. Extreme dive durations and percentage time spent diving peaked at 67 ± 12 days of age at values comparable with those of adults but were not sustained. Greater peaks in extreme percentage time spent diving occurred in pups that had higher initial values, were older at their peak, and were heavier at departure. Pups that were smaller and lesscapable divers when they left the colony improved extreme dive durations and percentage time spent diving more rapidly once they were at sea. We speculate that once small pups have attained a minimum degree of physiological development to support diving, they would benefit by leaving the colony when younger, but larger, to maximize limited fuel reserves. [ABSTRACT FROM AUTHOR]

The article focuses on the rejection of the idea of implementing trillion-dollar coin idea by the U.S. Department of the Treasury and the Federal Reserve to avoid the debt limit in the U.S. It informs that the U.S. government bonds issued by the Treasury aimed to pay for health care are not debt. It also informs that printing of money means to create reserves.

This research paper seeks general objective is to determine the national legal reserve in Venezuela's Bolivariana Republic Constitution of 1999. Is used the documentary research strategy and the analytical method. Sources for data collection include five different areas: constitutional, legal, sublegal, doctrinal and jurisprudential. The concept of the national legal reserve includes specific national maters which based on constitutional provisions or on immobilization of the legal rank need to be exclusively regulated by legal normative juridical acts: the formal law and the decree with force of law as such, by excluding the executive regulation. [ABSTRACT FROM AUTHOR]

Why did most central banks continue to purchase dollar reserves during the 2000s even though they suffered mounting financial losses as a result of this policy? This paper argues that domestic political considerations determine whether policy makers accumulate or dump the reserve currency. We hypothesize that central bank independence decreases support for the dollar because independent central banks reduce the political clout of exporters and increase the salience of financial performance. This argument is tested using data on countries' holdings of US Treasury securities between 2000 and 2008. The statistical results indicate that countries with independent central banks were more likely to sell and less likely to purchase US treasuries. Our findings suggest that a complete understanding of the international dollar standard requires greater attention to domestic politics and how political institutions influence the balance of power between competing interest groups. [ABSTRACT FROM PUBLISHER]

Firstly, it makes an in-depth study on the econometric relationship between the quarter increment of the foreign exchange reserve in China and the main macro-economic variables. It finds that the macro-economic situation have great effect on the increase of foreign exchange reserves. Secondly, for the first time, it puts forward the combined forecasting method of R² weight, which uses R² statistics as the combined forecasting weight to combine the different models' results. With this method, we got the stable and accurate result that the foreign exchange reserves will increase continuously. Finally, it gives some suggestions. [ABSTRACT FROM AUTHOR]