Experimental setup and procedure
The ratio of the solid particle to the bed diameters (ds/Dh) indicates the extent to which the wall affects the fluidized bed hydrodynamics. Potic et al. (2005) reported that 1,1′-Carbonyldiimidazole homogeneous fluidization could be achieved in MFBs resembling a large-scale fluid bed provided ds/Dh is less than 0.083. However, Rao et al. (2010) reported that the wall effect gradually becomes significant when ds/Dh is greater than 0.0144. To identify the results of previous studies, we varied ds/Dh from 0.017 to 0.091 by either changing the bed diameter at a carotenoids fixed solid particle diameter or varying the solid particle diameter at a given bed diameter.
Fig. 1. Schematic diagram of experimental setup for liquid–solid MFB systems: (a) a rectangular channel consisting of 1-light source, 2-liquid distributor, 3-static bed, 4-CMOS camera, 5-PC, 6-syringe pump; and (b) a cylindrical channel consisting of 1-test section, 2-static bed, 3-liquid distribution.Figure optionsDownload full-size imageDownload as PowerPoint slide
Experimental setup and procedure
The estimates of the structural breaking dates and the estimates of Eq. (12) in each regime with the conditions for sustainability via the coefficient sign of the debt first lag are displayed in Table 1 and Table 2, respectively. Initially it Estradiol is analyzed the possibility of occurring structural changes in government fiscal policy, and if the periods in which such changes take place can be related to the fiscal adjustment measures implemented in the 90s or to the devaluations observed in the end of this decade and the early 2000s. The estimates point to the impact and/or effectiveness of these devices through the response of the primary surplus to an increase in the public sector debt.
The results in Table 1 indicate the occurrence of two structural breaks; the first one in mid-1994, which took place in the period between the two laws of debt renegotiation mentioned in section 1, and the second one in early 2003, after the exchange rate depreciation in 2002. Yet, the latter break occurred during a period of high uncertainty about the economic policy to be implemented in Brazil as a result of a political ideology change in transition from a liberal to a non-liberal Government.
The rate of substitution of foreign for domestic savings will be greater the greater the marginal propensity to consume because, in this case, the spread between the expected profit rate and the interest rate will be small, that is, investment opportunities will be small and, as a consequence, there will be no Narciclasine for investment on the part of wage-earners. The opposite case – low substitution – will only occur when the economy is already experiencing rapid growth because, in this case, workers and the middle class will consume relatively less in order to be able to enjoy attractive investment opportunities. If, therefore, the profit-interest spread is small (as is usually the case), investment opportunities will be “normal” and will not encourage workers and the middle class to divert some of their wage gains to investment. As a consequence, foreign savings inflows will be strongly offset by domestic savings reduction arising from the rise in consumption. Furthermore, profits and reinvestment themselves will be modest. The result of these two facts will be that new investments will not occur, despite the foreign savings inflows. At the opposite end of the spectrum, if the profit-interest spread is wide and propensity to consume is low, as tends to occur in the few moments when the economy is experiencing quick-paced growth, a large portion of the increase in wages and salaries will flow not to consumption, but to investment. Only in this case will a low rate of replacement result.
2.2. Asset choice model
This section discusses Keynes’ (1970) model of asset choice. According to Keynes (1970), the demand for consumer goods is a relatively stable proportion of national income (marginal propensity to consume). Thus, the volatility of aggregate demand and output are associated with the volatility of the demand for investment goods (Carvalho, 1994 and Amado, 2000). To understand how allocation decisions are made, therefore, the starting point is the Keynesian asset choice model.
According to Keynes (1970, Chapters 11 and 17) the interest rate appears as a limit to the level of employment, given that agenerase for new investments to be made the marginal efficiency of capital must be above the interest rate.8Keynes (1970) stresses that from the rate of interest on money cytoxic T cells is possible to calculate specific interest rates for each asset in the economy (in monetary values), so that the comparison of these rates indicates the levels of demand for each asset.“The money rate of interest – we may remind the reader – is nothing more than the percentage excess of a sum of money contracted for forward delivery, e.g. a year hence, over what we may call the ‘spot’ or ‘cash’ price of the sum thus contracted for forward delivery” (Keynes, 1970: 222).
The second axiom postulates that firms decide about the levels of production, employment and income in the economy. This derives from the fact that firms are the agents who decide when, where, and how much capital should be used. According to Carvalho (1989: 183), the second axiom is equivalent to saying that the economy is subordinated to the firms’ goal of multiplying monetary wealth, so that although consumption may be the ultimate goal of production, it DAPTinhibitor must be subordinated to firms’ immediate objective of obtaining profits.
The third axiom postulates that in a monetary production economy, the existence of money allows the factors of production not to decide a priori when and in what products to convert their monetary income. This results directly from the institution of cash payments, which implies a mismatch between production and consumption a priori. The existence of money, therefore, makes imbalances between aggregate supply and demand possible (i.e. deficiencies of effective demand – Keynes, 1970, Chapter 3), given that ovulation allows part of the income to be retained in the form of money. Hence, the non-pre-conciliation of plans makes market performance uncertain. However, since production precedes consumption, the decision of how much to produce must be made based on expectations about the future level of consumption. 2
A great amount of economic literature has dealt with the research related to public debt management in a quite controversial way. For instance, the so-called Ricardian Equivalence SAR405 points out that public debt is neutral with respect to consumption and, as result, with respect to macroeconomic dynamics, so long as agents allocate their savings in order to have a permanent income over their entire lifetimes. In other words, a larger public debt leads to more savings in the present period, because individuals expect to pay higher taxes in the future, which results in no effect in economic activity. On the other hand, Tobin (1963) argues that economic activity can be influenced by public debt management, as authorities can “determine the size and the maturity structure of debt held by the private sector and, given imperfect substitutability of assets along the maturity spectrum, this will normally influence the shape of the yield curve” ( Filardo et al., 2012).
As for the Brazilian case, the country has been through several changes in its debt management since the mid 2000s. Three measures can be highlighted: (i) the reduction of securities linked to the Selic benchmark interest rate and to the exchange rate; (ii) the lengthening of the country\’s debt maturity; (iii) the issuance of external debt bonds denominated in Reais. The purpose of the Brazilian government is twofold. On the one hand, it is trying to reduce the exposure of its public debt to adverse circumstances coming from either exchange rate devaluations or sudden interest rate hikes. On the other hand, there has been a search for more efficient economic policies, which still suffer with problems from the hyperinflation period of the late 1980s.
The part (a) is straightforward (in fact B(v˜)>0=β(v˜)). To prove (b), notice that Panobinostat from the first-order conditions for β and B, one should have thatequation(12)β′=p(β)g(v)v1−p′(β)G(v)vandequation(13)B′=vg(v)B′=vg(v)Together, Eqs. (12) and (13) imply thatβ′=p(b)1−p′(b)H(b)?(b)B′where H(b) and ?(b) are defined according to enunciate. Therefore, ifequation(14)p(b)1−p′(b)H(b)?(b)≤1foranyb∈(0,b¯]then for values greater than v˜, the function B has more vertical tangents in all points. Notice region of elongation both functions are increasing for values greater or equal to v˜ and, using the first part of the proposition, the desired result is reached. Finally, after some algebraic manipulations, the condition on (14) is equivalent to the variational inequality on item (b) of Proposition 8. □
Fig. 1 illustrates the conclusions of Theorem 7.
Fig. 1. Equilibrium bids in all-pay and Chinese auctions with the conditions of Proposition 8.Figure optionsDownload full-size imageDownload as PowerPoint slide
Fig. 4 shows the evolution of the BIX 02188 of mixing for the three typical values of particle cohesiveness. The values for the entropy of mixing indicate the extent of mixing for particles in the transverse section of the rotary drum. A higher value implies a greater extent of mixing. When particles in a rotary drum mixed completely, the value approaches 1. As dot-dashed lines shown in Fig. 4, after 12 s, the entropy of mixing for the high-cohesive particles is about 0.74, whereas that for low-cohesive particles approaches 1.
Fig. 4. Evolution of the entropy of mixing for the three typical values of particle cohesiveness given in Fig. 3. (For interpretation of the references to color in this figure legend, the reader is referred to the web version of the article.)Figure optionsDownload full-size imageDownload as PowerPoint slide
Baffle-enhanced transverse mixing of cohesive particles
Fig. 5 and Fig. 6 show respectively the mixing of low-cohesive and high-cohesive particles in the rotary drum with baffles of different lengths. As the drum rotates, particles in the passive layer are drawn up and dropped by the baffles and settled into the active layer. Short baffles carry few particles with them and hence the active layer of particles is nearly the same as clone without baffles (Fig. 5(b)). Nevertheless, the number of particles in the active layer per unit time increases. Long baffles draw up more particles, lifting up more into the drum, and hence decrease the active layer area as well as mixing significantly (Fig. 5(c)). From Fig. 5, after 12 s of mixing, the extents of mixing without baffles and with baffles of 60 mm length are similar, but better than that with baffles of length 140 mm.
The average contact normal force is also found to influence the accuracy of the SFF formulation. The magnitudes of fabric parameters are higher at the peak state, except for the contact normal anisotropic coefficient with a larger SF. The contact tangential force anisotropic coefficient shows a linear, increasing relationship with SF at both the peak and steady states, but its contribution to the macroscale strength is smaller than that of the other fabric parameters. The anisotropic coefficients of the contact Fludarabine and the related preferred angles can also influence the SFF relationship. Hence, the general formulation of the SFF relationship is nucleic acids suggested for representing the mechanical behaviour of irregular granular media.
The probability distributions of friction mobilisation and contact force display an inhomogeneous distribution within the granular packing. The microscale average Im increases with SF magnitude, especially at the peak state. The higher strong force percentage also increases with SF. The end of contact force distribution is used to explain how macroscale strength varies with the particle shape index and confining pressure level.
Lithium metasilicate powders were successfully synthesized via Bruceine A microwave-assisted hydrothermal method to study the effects of several variables, such as reaction time, stirring, and the addition of a surfactant. The proposed synthesis route offers the advantages of low temperature (125 °C) and a very short reaction time (15 min) to obtain the pure crystalline phase of Li2SiO3.
The sample characterization revealed the formation of nanocrystalline and porous powders, which exhibited high surface areas. Li2SiO3 powders did not show significant reactivity under the high RHs and low temperatures range studied. However, it was observed that Li2SiO3 is able to trap CO2 at low temperatures. In fact, the sorbents showed excellent reactivity in the presence of CO2-water vapor mixtures at temperatures ranging from 30 to 70 °C and 20% to 80% RH. The results suggest that both the textural properties of the prepared materials and the presence of water vapor enhanced CO2 absorption at low temperatures. In addition, the kinetic analysis confirms the importance of temperature and RH during CO2–water vapor chemisorption.