Are business cycles stationary fluctuations around a deterministic trend? empirical evidence from 79 developing countries

There is a large literature that tests the univariate time series properties of the real output series following the seminal work of Nelson and Plosser (1982). Whether or not real output is characterized by a unit root process has important implications. A unit root in real output, for instance, is inconsistent with the notion that business cycles are stationary fluctuations around a deterministic trend. In this paper, we investigate the univariate time series properties of real output for 79 developing countries using the conventional augmented Dickey and Fuller (1979) unit root test, the Zivot and Andrews’ (1992) one structural break unit root test, and the Lumsdaine and Papell (1997) two structural breaks unit root test. Our main finding is that, for 40 countries, real output is stationary around a trend. This indicates that business cycles are stationary fluctuations around a deterministic trend for only 51% of the developing countries in our sample.

Play and cultural transition

In many countries, early childhood educators have to confront the issue of how to assist immigrant children adapt to life in a new context. For example, in 2007-08, 44 771 children aged 0- 14 years old came to Australia with their familes to start life afresh (Australian Government 2009). Countries need to put into place policies and Practices that minimise the dislocation that immigrant families and their children face. Knowledge of what other countries are doing to educationally support immigrant children can assist professionals to better understand what is sound practice and what should be avoided. This chapter discusses some of the identified immigration issues of a small sample of Chinese children who have PMR parents/caregivers in Hong Kong. This chapter also examines how the
role of play in early childhood settings can help immigrant children adjust to their new teaching and learning context. Seven early childhood teachers and the principal of a local childcare centre were invited to participate in a small scalc study that is reported on in this chapter. Using convenience sampling, interviews were conducted for qualitative data collection.

Vitamin D deficiency may play a role in depression

Vitamin D is known to be widely deficient in Western populations. The implications of this in terms of bone health are increasingly understood, yet its impact on other health areas, particularly mental health, is unclear. Recent data suggests that hypovitaminosis D may be common, especially in the elderly. Other studies have suggested that low levels of vitamin D are associated with poor mood. There are a number of trials that have suggested a role for Vitamin D in the supplementary treatment of depression. Dose may be a critical issue, as sun exposure and dietary intake may be low and high doses may be required.

The play of power and politics in innovation and HRM

This paper analyses the human resource management (HRM) practices involved in the implementation of a process innovation approach to product development (concurrent engineering (CE)) in the Australian subsidiary of a multinational firm engaged in military defence electronics. According to the research literature, almost all aspects of managing product development under a CE approach are linked to people management. Yet in this particular case, other than project team structure, the prescriptive HRM dimensions of CE were conspicuously absent in the implementation process. This absence is explained by the play of power and politics involving stakeholders analysed over an 18 month period. The implications of this analysis for understanding the embedded, interdependent and political nature of HRM and process innovation are addressed.