This paper constructs a macro-finance model for commodity futures. I document a feedback relationship between crude oil prices and real economic activity. The channel from real activity to oil prices is unspanned – meaning not identified in current futures prices – consistent with oil futures as a hedge asset against supply shocks. Unspanned macroeconomic risks have first order effects on risk ...

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We discuss the Seiberg-Witten solution of the non-commutative N = 2 U(N) SYM model. The solution is described in terms of the ordinary Seiberg-Witten curve of the SU(N) theory plus an additional free U(1). Hence, at the two-derivative approximation the theory flows to the ordinary commutative theory in the infra-red (k < 1/ √ θ). In particular, the center U(1) is free and it decouples from the ...

1 . a . F a l s e . I f y o u r c o u n t r y d o e s n o t r e q u i r e o n e , o n l y c o n s i d e r a p r e s h i p m e n t i n s p e c t i o n ( P S I ) i f y o u a r e m a k i n g a l a r g e o r d e r . A P S I m a y s p e e d u p c l e a r a n c e o n a r r i v a l , b u t w i l l i n c r e a s e t h e p r i c e b y 2 3 % . Y o u s h o u l d d e...

In the classroom I was strict. The chatter was held to a minimum and even in spontaneous conversation I corrected their errors. I encouraged them to repeat sentences in the hope that they would begin to develop their own internal "monitor" system. As I look back through the diary I kept, I was encouraged by the number of times my students would stop and say, "Is that how you say that? No one ev...

Incremental forming is a rapid prototyping process that allows sheets to be formed without using tools, numerically controlled machine tool. A wide variety of shapes can generated with this process. The objective work study through experimental tests and numerical simulations the behavior ASTM grade 2 titanium during incremental point (SPIF). Spinner MFG850 machining center from ISET in JENDOUB...

Whereas the average error capacity region Ra for the MAC W : X ×Y → Z is known for a long time (Ahlswede 71), very little is known about the capacity region Rm for the maximal error concept (as predicted also by Ahlswede in 71). Inspite of great efforts during the past three decades even for some special examples of deterministic MAC, for which the maximal error concept coincides with the conce...

We tracked the points-of-gaze of human observers as they viewed videos drawn from foreign films while engaged in two different tasks: (1) Quality Assessment and (2) Summarization. Each video was subjected to three possible distortion severities – no compression (pristine), low compression and high compression – using the H.264 compression standard. We have analyzed these eye-movement locations ...