Film coating solutions containing different grades of HPMC (E5, E15 and E50) with and without polyethylene glycol (with various molecular weights) were examined by an oscillatory method, using Haake CV 100 rheometer. Fundamental rheological parameters (?, G? and G² ) were measured over the frequency range from 0.04 to 2 Hz. The variation with frequency of the loss tangent (a ratio of viscous to...

This research examined the influence of compositions between coconut fiber (Cocos nucifera) and wood particles (Pinus taeda L. Eucalyptus saligna) on physico-mechanical properties homogeneous particleboards. The exploratory study was carried out under Tukey’s contrast test means, at 5% significance level, with following compositions: 100% (F100 P0 E0); 50% fiber, 25% pine particles, eucalyptus ...

We present a micro-founded search-theoretical model of money in which agents are subject to idiosyncratic liquidity shocks as well as aggregate productivity and monetary shocks. Monetary policy has redistributive effects and persistent effects on output and prices: aggregate shocks will propagate and diffuse gradually as the money distribution adjusts over time. The model is used to study the c...

No one in the industrial countries should now question the substantial economic benefits associated with reducing inflation from earlier, high levels. At the same time, history also teaches that the stability of consumer prices might not be sufficient to ensure macroeconomic stability. Past experience is replete with examples of major economic and financial crises that were not preceded by infl...

This paper considers a search theoretic model of money in the tradition of Lagos and Wright (2005) where sellers can choose to produce in the formal or informal market. There is continuum of types of producers that differ in their managerial ability, as in Lucas span of control model. Producers in the formal market can make deposits and receive intererst payments, which makes credit possible fo...

Changes in monetary policy are typically implemented gradually, an empirical observation known as interest-rate smoothing. We propose the explanation that timenon-separable preferences may render interest-rate smoothing optimal. We find that when consumers have “catching-up-with-the-Joneses” preferences, optimal monetary policy reacts gradually to shocks to prevent inefficiently fast adjustment...

I show that the cross-sectional standard deviation of individual price changes in the BLS CPI database is countercyclical and comoves strongly with the frequency of price adjustments. Standard Ss models with only …rst moment shocks cannot explain these facts. Adding a second moment (‘uncertainty’) shock improves the model …t signi…cantly. Furthermore, it implies a strongly procyclical sensitivi...

It is widely acknowledged that the Fed can control the average inflation rate over a period of time reasonably well. Because of this and the Federal Open Market Committee’s (FOMC’s) long-standing commitment to price stability, the author argues that the FOMC has an implicit long-run inflation objective (LIO)—lower and upper bounds to the long-run inflation rate. He shows that the statements mad...

Ramsey models of fiscal and monetary policy featuring time-separable preferences and a fixed supply of capital predict highly volatile inflation with no serial correlation. In this paper, we show that an otherwise-standard Ramsey model that incorporates capital accumulation and habit persistence predicts highly persistent inflation. The result depends on increases in either the ability to smoot...

A novel Gram-reaction-negative bacterial strain, designated Ka43 T , was isolated from agricultural soil and characterised using a polyphasic approach to determine its taxonomic position. On the basis of 16S rRNA gene sequence analysis, strain shows highest similarity (97.1 %) Cellvibrio diazotrophicus E50 . Cells are aerobic, motile, short rods. The major fatty acids summed feature 3 (C 16 : 1...