“The Current is a rare creature: a gripping thriller and page-turner but also a masterwork of mood and language—a meditation on memory and time. You’ll want to go fast at the same time you’ll be compelled to savor each and every word.” —Ivy Pochoda, author of Wonder Valley Tim Johnston, whose breakout debut Descent was called “astonishing,” “dazzling,” and “unforgettable” by critics, returns with The Current, a tour de force about the indelible impact of a crime on the lives of innocent people. In the dead of winter, outside a small Minnesota town, state troopers pull two young women and their car from the icy Black Root River. One is found downriver, drowned, while the other is found at the scene—half frozen but alive. What happened was no accident, and news of the crime awakens the community’s memories of another young woman who lost her life in the same river ten years earlier, and whose killer may still live among them. Determined to find answers, the surviving young woman soon realizes that she’s connected to the earlier unsolved case by more than just a river, and the deeper she plunges into her own investigation, the closer she comes to dangerous truths, and to the violence that simmers just below the surface of her hometown. Grief, suspicion, the innocent and the guilty—all stir to life in this cold northern town where a young woman can come home, but still not be safe. Brilliantly plotted and unrelentingly propulsive, The Current is a beautifully realized story about the fragility of life, the power of the past, and the need, always, to fight back.
In 1961, Moore and Miljanic in collaboration with N. L Kusters developed the current comparator, for which a patent was granted in 1964. Since that time they and their associates have applied this technique toward advancing the art of electrical measurement. The current comparator comprises a special configuration of concentric toroidal magnetic cores and windings which enable the physical realisation of a very precise ampere-turns ratio standard. It provides the basis for the precise measurement of various electrical quantities at both direct and alternating currents using current ratio techniques. Applications include the calibration of instrument transformers, measurement of the losses of high voltage capacitors and inductive reactors, measurement of the short circuit losses of large power transformers, the calibration of power and energy meters, an alternating current impedance bridge, direct current resistance measurements, the calibration of high direct current metering systems and shunts, a seven decade direct current potentiometer, and a 20 bit digital-to-analogue converter. The book presents the basic theory of the current comparator, methods of construction leading to high ratio accuracies, and the operating principles of the various applications.
This state-of-the-art volume presents an outstanding collection of 22 studies on current issues facing research in second-language acquisition (SLA). The editors sought contributions for this volume from seasoned veterans of SLA like Lydia White and Susan Gass, from well-known researchers in linguistics and/or first-language acquisition like Haj Ross and Harald Clahsen, and from relative newcomers to the field like India Plough and Jean-Marc Dewaele. The topics covered range from the role of universals at various levels of second-language (L2) knowledge; the way that linguistic knowledge is represented by L2 learners; the changing nature of linguistic theory itself; and the definition of usage phenomena like style shifting and code switching. The introduction to "The Current State of Interlanguage" gives a concise yet detailed overview of research in the field over the past 10 years, and focuses on the present growing concensus on a number of issues that were at one point highly controversial.
Daniel Solomon is not having a good day. Somewhere between Bangkok and Tokyo, zipping through the stratosphere, the jetliner on which he's travelling cracks open like an egg, ejecting Daniel and his fellow passengers into the great blue sky. If only that were the worst of it. Thousands of feet above the merciless Earth, still strapped into his seat, his cherished comics fluttering away like freed parrots, Daniel finds out what it means to have your life flash before your eyes. Time stops, the wreckage of the plane freezes in place, postponing the inevitable end, and Daniel finds that he can transport himself back into his past. Re-experiencing his memories in real time, but helpless to change the present, he plunges into the detritus of his all-but-concluded life. In this daring and often hilarious novel, Jared Young defies the laws of physics and the conventions of narrative to explore the twists and turns of great sex and bad decisions, chance and grand design, and the moments of truth that can turn disaster into a mere interruption on the horizon.
Consumption-Based Interest Rate and the Present-Value Model of the Current Account--Evidence from Nigeria
This paper presents a model of current account determination, based upon the permanent-income hypothesis. A present-value relationship among the current account, changes in net output, the exchange rate and the terms of trade is derived and the implications of such a relationship are tested using data for Nigeria during 1960-97. This paper presents a model of current account determination, based upon the permanent-income hypothesis. A present-value relationship among the current account, changes in net output, the exchange rate and the terms of trade is derived and the implications of such a relationship are tested using data for Nigeria during 1960-97.
This paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel regressions, vector autoregressions, and an analysis of large fiscal and external adjustments. On average, a strengthening in the fiscal balance by 1 percentage point of GDP is associated with a current account improvement of 0.2–0.3 percentage point of GDP. This association is as strong in emerging and low-income countries as it is in advanced economies; and significantly higher when output is above potential.
This paper examines the empirical link between fiscal policy and the current account focusing on microstates defined as countries with a population of less than 2 million between 1970 and 2009. The paper employs panel regression and panel vector autoregression (VAR) on 155 countries of which 42 are microstates. Panel regression results show that a percentage point improvement in the fiscal balance improves the current account balance by 0.4 percentage points of GDP. The real effective exchange rate has no significant impact on the current account in microstates but the coefficient is significant in the global sample. Panel VAR results show that an increase in government consumption results in real exchange appreciation but the effect on the current account after an initial deterioration dies out quicker in microstates than in the global sample. The result implies that fiscal policy has little effect on the current account in microstates beyond its direct impact on imports. Overall, the results suggest that the weak relative price effects make the effect of fiscal adjustment on the current account much more difficult in microstates.
This paper examines the relationship between financial regulation and the current account in an intertemporal model of the current account where financial regulation affects the current account through liquidity constraints. Greater liquidity constraints decrease the size and persistence of the current account response to a net output shock. The theory is tested with an interacted panel VAR model where the coefficients are allowed to vary with the degree of financial regulation. The current account reaction to an output shock is 60% larger and substantially more persistent in a country with low financial regulation than in one with high financial regulation.
Is the relationship between the current account balance and the terms of trade affected by the persistence of terms of trade shocks? In intertemporal models of the current account that incorporate a consumption-smoothing and an investment response to shocks, the effect of the terms of trade on external balances is predicted to be dependent on the duration of terms of trade shocks. Using a median-unbiased estimator, an unbiased model-selection rule, and terms of trade data for 128 countries over the period 1960-99 we identify two groups of countries-those that typically experience temporary terms of trade shocks and those that typically experience permanent terms of trade shocks. The results from panel-data regressions of the two groups of countries support the theoretical predictions of the intertemporal approach to the current account. We find that the greater (lesser) the persistence of the terms of trade shock, the more (less) the investment effect dominates the consumption-smoothing effect on saving, so that the current account balance moves in the opposite (same) direction as that of the shock.