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Mechanics of High-Contrast Elastic Solids
This book contains the most recent results in the area of strongly inhomogeneous composite structures, including layered materials as well as continua with microstructure. This collection of papers mainly arises from the Euromech Colloquium No. 626 on “Mechanics of High-Contrast Elastic Composites”. Focus is set on the peculiar mechanical behaviour caused by adjoining widely different structural elements (high contrast) in terms of material and/or geometrical properties.
A Structural Model for the Housing and Credit Markets in Italy
We estimate a fully-fledged structural system for the housing market in Italy, taking into account the multi-fold link with bank lending to both households and construction firms. The model allows the house supply to vary in the short run and the banking sector to affect the equilibrium in the housing market, through its effect on housing supply and demand. We show that house prices react mostly to standard drivers such as disposable income, expected inflation and demographic pressures. Lending conditions also have a significant impact, especially through their effects on mortgage loans, and consequently on housing demand. Allowing short-run adjustment in house supply implies a weaker response of house prices to a change in the monetary stance or in banks' deleveraging process. Finally, we find that since the mid-eighties house price developments in Italy have been broadly in line with the fundamentals; during the recent financial crisis, the worsening in credit supply conditions dampened house price dynamics, partly offsetting the positive stimulus provided by the easing of the monetary policy stance.
Asteroids
With the bulk of asteroids floating in space between the orbits of Mars and Jupiter, astronomers puzzle over where these rocks came from. Are they the remnants of a planet? Excess not used in the formation of the Solar System? Nothing more than random bits of debris? The location of the belt makes for a quasi-barrier separating the inner from the outer planets. Perhaps asteroids were meant to discourage human space exploration. NASA has sent missions to explore the asteroid belt and the rocks themselves, and those missions have yielded some interesting observations on the composition of the asteroids but no definitive answer as to their origin. Earth-based tools such as telescopes and satell...
Engineered Materials for Sustainable Structures
Special topic volume with invited peer-reviewed papers only
Financial Institutions in Distress
Political boundaries are often porous to finance, financial intermediation, and financial distress. Yet they are highly impervious to financial regulation. When inhabitants of a country suffering a deficit of purchasing power are able to access and deploy funds flowing in from a country with a surfeit of such power, the inhabitants of both countries may benefit. They may also benefit when institutions undertaking such cross-border financial intermediation experience economies of scale and are able to innovate and to offer funds and services at lower costs. Inevitably, however, at least some such institutions will sometimes act imprudently, some of the projects in which such funds are deploye...
Children and Young People’s Participation in Disaster
Available Open Access under CC-BY-NC licence. Disasters are an increasingly common and complex combination of environmental, social and cultural factors. Yet existing response frameworks and emergency plans tend to homogenise affected populations as ‘victims’, overlooking the distinctive experience, capacities and skills of children and young people. Drawing on participatory research with more than 550 children internationally, this book argues for a radical transformation in children’s roles and voices in disasters. It shows practitioners, policy-makers and researchers how more child-centred disaster management, that recognises children’s capacity to enhance disaster resilience, actually benefits at-risk communities as a whole.
Unconventional Monetary Policy in a Small Open Economy
This paper investigates the effects of unconventional monetary policy in a small open economy. Using recently proposed shadow interest rates to capture unconventional monetary policy at the zero lower bound (ZLB) we estimate a Bayesian structural vector autoregressive model for Canada - a useful case where foreign shocks can be proxied by U.S. variables alone. We find that, during the ZLB period, Canadian unconventional monetary policy increased output (measured by industrial production) by 0.013 percent per month on average while US unconventional monetary policy raised Canadian output by 0.127 percent per month on average. Our results demonstrate the effectiveness of domestic unconventional monetary policy and the strong positive spillover effects that foreign unconventional monetary policies can have in a small open economy.
