Inflation expectations, interest rates and arbitrary income transfers

Unexpected inflation, disinflation or deflation cause arbitrary income transfers between an economy's borrowers and lenders. This redistribution results from distorted real interest rates that are too high when price level changes are over-predicted and too low when they are under-predicted. This article shows that in Australia's case, inflation expectations were mostly biased upwards throughout the 1990s, according to the Melbourne Institute of Applied Economic and Social Research series and to a new derived series based on bond yields, implying that real interest rates were too high over this time. In turn, this caused substantial arbitrary income transfers from debtors to creditors, estimated to have averaged up to 3 per cent of gross domestic product over the period.

Lawyers and the third dimension : A Solicitor v Council of the Law Society of New South Wales

Casenote and comment on the High Court case of A Solicitor v Council of the Law Society of New South Wales which dealt with the issue of whether a solicitor, convicted of aggravated indecent assault, should be allowed to continue practicing law.

Physical activity as a dimension of family life for lower primary school children

While questions of children's engagement in physical activity are being widely debated, little is known about how physical activity is valued and managed within families. This paper reports on qualitative data from a multi-method study on lower primary aged children. The focus of the broader study was to determine the relationships between young children's physical activity patterns, skills, and recreational interests, and their families' location, income, commitment to physical activity, and other responsibilities. Drawing on interviews with 12 purposively selected families, it was found that physical activity was highly valued across different family contexts, that children's engagement was shaped by their interests, friendships, and safety, and that issues such as income, family configuration, parental work commitments, and transport were potential barriers to further engagement.

Extraction of texture features from arbitrary-shaped regions for image retrieval

Lots of work has been done in texture feature extraction for rectangular images, but not as much attention has been paid to the arbitrary-shaped regions available in region-based image retrieval (RBIR) systems. In This work, we present a texture feature extraction algorithm, based on projection onto convex sets (POCS) theory. POCS iteratively concentrates more and more energy into the selected coefficients from which texture features of an arbitrary-shaped region can be extracted. Experimental results demonstrate the effectiveness of the proposed algorithm for image retrieval purposes.