Long-range dependence in the volatility of commodity futures prices: Wavelet-based evidence

Commodity futures have long been used to facilitate risk management and inventory stabilization. The study of commodity futures prices has attracted much attention in the literature because they are highly volatile and because commodities represent a large proportion of the export value in many developing countries. Previous research has found apparently contradictory findings about the presence of long memory or more generally, long-range dependence. This note investigates the nature of long-range dependence in the volatility of 14 energy and agricultural commodity futures price series using the improved Hurst coefficient (H) estimator of Abry, Teyssière and Veitch. This estimator is motivated by the ability of wavelets to detect self-similarity and also enables a test for the stability of H. The results show evidence of long-range dependence for all 14 commodities and of a non-stationary H for 9 of 14 commodities.     

Spectroscopic optical second-harmonic generation from semiconductor interfaces

Optical Second-Harmonic Generation (SHG) from semiconductor interfaces has been widely studied, but it is only recently, with the advent of commercial, tuneable, pulsed laser sources that the spectroscopic aspect of SHG has begun to be more widely exploited. Here, results from porous Si and Si(100)-Sb are reported, which illustrate the potential of spectroscopic SHG as a probe of semiconductor interfaces.Paper presented at the 129th Heraeus Seminar on Surface Studies by Nonlinear Laser Spectroscopies, Kassel, Germany, May 30 to June 1, 1994     

VCSEL with reticular electrode and larger emitting aperture and its optoelectronic characteristics

The enlargement of the emitting aperture is usually one of the important methods of increasing vertical- cavity surface-emitting laser （VCSEL） optical output power. However, in a VCSEL with a larger aperture, the inhomogeneity in the injected current often causes inhomogeneous or even no emission. To solve this problem and to increase VCSEL output power, as well as to improve its thermal characteristics, we develop a new type of injected VCSEL with a larger aperture and a reticular electrode, where the conventional circular injection electrode of the P side is turned into a reticular one, and the heat sink is on the N side. The tests of the new VCSEL show an improvement in homogeneity in not only the injected current but also the emission intensity. The optical output power is also considerably increased, and the device optoelectronic performance is improved.     

Kinetics of spontaneous change in the localized motions of D-sorbitol glass

The dielectric relaxation spectra of D-sorbitol glass have been studied in real time during annealing at 221.1 K, which is 47 K below its T(g) of 268 K. As the glass structurally relaxes during annealing, features of the Johari-Goldstein (JG) relaxation change with time: (i) the relaxation strength decreases, (ii) the relaxation peak at 48 Hz shifts to a higher frequency, and (iii) the relaxation spectra become narrower. All seem to follow the relation p proportional, variant exp[-(kt)(n)], where p is the magnitude of a property, k the rate constant, and t the time. The parameter n may well be less than 1, but this could not be ascertained. It is proposed that shift of the relaxation peak to a higher frequency and narrowing of the relaxation spectra occur when local, loosely packed regions of molecules in the glass structure collapse nonuniformly and the relaxation time of some of the molecules in the collapsed state becomes too long to contribute to the JG-relaxation spectra. Consequently, the half width of the spectra decreases, and the relaxation peak shifts to a higher frequency. Molecules whose diffusion becomes too slow after the local regions' collapse would contribute to the alpha-relaxation spectra and thus the net relaxation strength would increase on structural relaxation. It is argued that these findings conflict with the NMR-based conclusions that motion of all molecules in the glass and supercooled liquid contributes to the faster relaxation process.     

The role of group 14 element hydrides in the activation of C-h bonds in cyclic olefins

Formally, triple-bonded dimetallynes ArEEAr [E = Ge (1), Sn (2); Ar = C(6)H(3)-2,6-(C(6)H(3)-2,6-(i)Pr(2))(2)] have been previously shown to activate aliphatic, allylic C-H bonds in cyclic olefins, cyclopentadiene (CpH), cyclopentene (c-C(5)H(8)) and 1,4-cyclohexadiene, with intriguing selectivity. In the case of the five-membered carbocycles, cyclopentadienyl species ArECp [E = Ge (3), Sn (4)] are formed. In this study, we examine the mechanisms for activation of CpH and c-C(5)H(8) using experimental methods and describe a new product found from the reaction between 1 and c-C(5)H(8), an asymmetrically substituted digermene ArGe(H)Ge(c-C(5)H(9))Ar (5), crystallized in 46% yield. This compound contains a hydrogenated cyclopentyl moiety and is found to be produced in a 3:2 ratio with 3, explaining the fate of the liberated H atoms following triple C-H activation. We show that when these C-H activation reactions are carried out in the presence of tert-butyl ethylene (excess), compounds {ArE(CH(2)CH(2)tBu)}(2) [E = Ge(8), Sn(9)] are obtained in addition to ArECp; in the case of CpH, the neohexyl complexes replace the production of H(2) gas, and for c-C(5)H(8) they displace cyclopentyl product 5 and account for all the hydrogen removed in the dehydroaromatization reactions. To confirm the source of 8 and 9, it was demonstrated that these molecules are formed cleanly between the reaction of (ArEH)(2) [E = Ge(6), Sn(7)] and tert-butyl ethylene, new examples of noncatalyzed hydro-germylation and -stannylation. Therefore, the presence of transient hydrides of the type 6 and 7 can be surmised to be reactive intermediates in the production of 3 and 4, along with H(2), from 1 and 2 and CpH (respectively), or the formation of 3 and 5 from 1. The reaction of 6 or 7 with CpH gave 3 or 4, respectively, with concomitant H(2) evolution, demonstrating the basic nature of these low-valent group 14 element hydrides and their key role in the 'cascade' of C-H activation steps. Additionally, during the course of these studies a new polycyclic compound (ArGe)(2)(C(7)H(12)) (10) was obtained in 60% yield from the reaction of 1,6-heptadiene and 1 via double [2 + 2] cycloaddition and gives evidence for a nonradical mechanism for these types of reactions.     

Reduction of terphenyl Co(II) halide derivatives in the presence of arenes: insertion of Co(I) into a C-F bond

Reduction of [(3,5-(i)Pr(2)-Ar*)Co(μ-Cl)](2) (3,5-(i)Pr(2)-Ar* = -C(6)H-2,6-(C(6)H(2)-2,4,6-(i)Pr(3))(2)-3,5-(i)Pr(2)) with KC(8) in the presence of various arene molecules resulted in the formation of a series of terphenyl stabilized Co(I) half-sandwich complexes (3,5-(i)Pr(2)-Ar*)Co(η(6)-arene) (arene = toluene (1), benzene (2), C(6)H(5)F (3)). X-ray crystallographic studies revealed that the three compounds adopt similar bonding schemes but that the fluorine-substituted derivative 3 shows the strongest cobalt-η(6)-arene interaction. In contrast, C-F bond cleavage occurred when the analogous reduction was conducted in the presence of C(6)F(6), affording the salt K[(3,5-(i)Pr(2)-Ar*)Co(F)(C(6)F(5))] (4), in which there is a three-coordinate cobalt complexed by a fluorine atom, a C(6)F(5) group, and the terphenyl ligand Ar*-3,5-(i)Pr(2). This salt resulted from the formal insertion of a putative 3,5-(i)Pr(2)-Ar*Co species as a neutral or anionic moiety into one of the C-F bonds of C(6)F(6). Reduction of [(3,5-(i)Pr(2)-Ar*)Co(μ-Cl)](2) in the presence of bulkier substituted benzene derivatives such as mesitylene, hexamethylbenzene, tert-butylbenzene, or 1,3,5-triisopropylbenzene did not afford characterizable products.     

The [2 + 4] Diels-Alder cycloadditon product of a probable dialuminene,Ar'AlAlAr' (Ar' = C(6)H(3)- 2,6-dipp(2); dipp = C(6)H(3)-2,6-Pr(i)(2)), with toluene

Reduction of Ar'AlI2 (Ar' = Ar'= C6H3-2,6-Dipp2; Dipp = C6H3-2,6-Pri2) with KC8 in diethyl ether most probably affords the first "dialuminene", Ar'AlAlAr'; it was characterized by its reaction with toluene which yielded a [2 + 4] cycloaddition product incorporating the Ar'AlAlAr' unit.     

Toward a microchip-based solid-phase extraction method for isolation of nucleic acids

A silica-based solid-phase extraction system suitable for incorporation into a microchip platform (nu-total analytical system; nu-TAS) would find utility in a variety of genetic analysis protocols, including DNA sequencing. The extraction procedure utilized is based on adsorption of the DNA onto bare silica. The procedure involves three steps: (i) DNA adsorption in the presence of a chaotropic salt, (ii) removal of contaminants with an alcohol/water solution, and (iii) elution of the adsorbed DNA in a small volume of buffer suitable for polymerase chain reaction (PCR) amplification. Multiple approaches for incorporation of this protocol into a microchip were examined with regard to extraction efficiency, reproducibility, stability, and the potential to provide PCR-amplifiable DNA. These included packing microchannels with silica beads only, generating a continuous silica network via sol-gel chemistry, and combinations of these. The optimal approach was found to involve immobilizing silica beads packed into the channel using a sol-gel network. This method allowed for successful extraction and elution of nanogram quantities of DNA in less than 25 min, with the DNA obtained in the elution buffer fraction. Evaluation of the eluted DNA indicated that it was of suitable quality for subsequent amplification by PCR.     

The use of novel water-in-oil microemulsions in microemulsion electrokinetic chromatography

We describe the novel use of water-in-oil (W/O) microemulsions to achieve unique separations in microemulsion electrokinetic chromatography (MEEKC). The choice and concentration of the buffer type, surfactant and co-surfactant were all examined and optimized. Separations of a range of neutral and acidic analytes was shown to be markedly different to that obtained by (oil-in-water) O/W MEEKC. Neutral solutes are separated by virtue of their solubility (log P) values in O/W MEEKC with the more water-insoluble solutes migrating last. This separation process does not occur in W/O, as neutral solutes are not separated in order of log P.