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New Quests in Stellar Astrophysics: The Link Between Stars and Cosmology
Stellar astrophysics still provides the basic framework for deciphering the imprints left over by the evolving universe on all scales. Advances or shortcomings in the former field have direct consequences in our ability to understand the global properties of the latter. This volume contains the most recent updates on a variety of topics that, though independent by themselves, are inevitably connected on a cosmological scale. These include comprehensive articles by leaders in fields extending from stellar atmospheres through properties of the stellar component in the Milky Way up to the stellar environment in high redshift galaxies. The wide coverage of astrophysical themes makes this volume very valuable for researchers and Ph.D. students in astrophysics.
Numerical Astrophysics
These are the proceedings of international conference on Numerical As trophysics 1998 (NAP98), held at National Olympic Memorial Youth Cen ter, in Tokyo, Japan in the period of March 10 - 13, 1998, and hosted by the National Astronomical Observatory, Japan (NAOJ). In the last decade numerical simulations have grown up as a major tool for astrophysics. Numerical simulations give us invaluable informa tion on complex systems and physical processes under extreme conditions which can be neither realized by experiments nor directly observed. Super computers and special purpose computers may work as very large telescopes and special purpose telescopes for theoretical astrophysics, respectively. Nu...
Finland
Finland has further improved the regulation and supervision of its financial sector since the 2016 FSAP, in part driven by European legislation and institutions. The size of the banking sector increased significantly in 2018 with the redomicilation of Nordea. Finland weathered the COVID-19 pandemic well relative to other economies, with fiscal support and interventions from the authorities. However, Finland is now navigating a weaker economic outlook given the war in Ukraine and ensuing energy crisis, despite limited direct financial exposures to Russia.
Central Bank Exit Strategies Domestic Transmission and International Spillovers
We study alternative approaches to the withdrawal of prolonged unconventional monetary stimulus (“exit strategies”) by central banks in large, advanced economies. We first show empirically that large-scale asset purchases affect the exchange rate and domestic and foreign term premiums more strongly than conventional short-term policy rate changes when normalizing by the effects on domestic GDP. We then build a two-country New Keynesian model that features segmented bond markets, cognitive discounting and strategic complementarities in price setting that is consistent with these findings. The model implies that quantitative easing (QE) is the only effective way to provide monetary stimulu...
Costa Rica
Recent developments and outlook. Growth accelerated to 5.1 percent in 2023 and is projected to remain robust at 4 percent in 2024. Inflation (year-on-year) has stayed negative since mid-2023, triggering Board Consultation under the Monetary Policy Consultation Clause. However, as base effects drop out of the year-on-year calculation, headline inflation is expected to return to the central bank’s tolerance band (2-4 percent) by late 2024. Formal employment, private-sector wages, and poverty are all moving in the right direction.
Advances in Hydrofluoric Acid Research and Application: 2013 Edition
Advances in Hydrofluoric Acid Research and Application: 2013 Edition is a ScholarlyBrief™ that delivers timely, authoritative, comprehensive, and specialized information about ZZZAdditional Research in a concise format. The editors have built Advances in Hydrofluoric Acid Research and Application: 2013 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about ZZZAdditional Research in this book to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Advances in Hydrofluoric Acid Research and Application: 2013 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.
Evolution
From the Scopes “Monkey Trial” of 1925 to the court ruling against the Dover Area School Board’s proposed intelligent design curriculum in 2005, few scientific topics have engendered as much controversy—or grabbed as many headlines—as evolution. And since the debate shows no signs of abating, there is perhaps no better time to step back and ask: What is evolution? Defined as the gradual process by which something changes into a different and usually more complex and efficient form, evolution explains the formation of the universe, the nature of viruses, and the emergence of humans. A first-rate summary of the actual science of evolution, this Scientific American reader is a timely ...
Implications of Central Bank Digital Currency for Monetary Operations
This Fintech Note aims to analyze how the issuance of central bank digital currency (CBDC) could affect monetary operations, which include central banks managing the demand and supply of reserves to achieve a desired stance of monetary policy. The note outlines three scenarios: CBDCs substituting cash, commercial bank deposits, and reserves, with implications varying based on design features and market developments. It discusses how these scenarios influence balance sheets and reserves, potentially drawing short-term interest rates away from the policy target and complicating liquidity forecasting. Furthermore, the note shows how central banks could calibrate monetary operations such as engaging in a fine-tuning operation and provide additional reserves on demand to ensure that central banks can maintain their monetary policy stance. Finally, careful design of CBDCs, such as setting criteria for access, holding quantity, and remuneration, can mitigate adverse effects on monetary operations.
The Evolution of Economic and Innovation Systems
This book is at the cutting edge of the ongoing ‘neo-Schumpeterian’ research program that investigates how economic growth and its fluctuation can be understood as the outcome of a historical process of economic evolution. Much of modern evolutionary economics has relied upon biological analogy, especially about natural selection. Although this is valid and useful, evolutionary economists have, increasingly, begun to build their analytical representations of economic evolution on understandings derived from complex systems science. In this book, the fact that economic systems are, necessarily, complex adaptive systems is explored, both theoretically and empirically, in a range of contexts. Throughout, there is a primary focus upon the interconnected processes of innovation and entrepreneurship, which are the ultimate sources of all economic growth. Twenty two chapters are provided by renowned experts in the related fields of evolutionary economics and the economics of innovation.
Central Bank Digital Currency—Initial Considerations
The paper briefs the Executive Board on the initial considerations on CBDC. These cover a framework to guide countries’ CBDC exploration, as well as implications for monetary policy transmission, capital flow management measures, and financial inclusion.
