Balancing act : competition and cooperation in US Asia-Pacific regionalism

While the United States is an important Asia-Pacific actor, its engagement with the region is complex and often difficult. Not only must US regionalism balance the diverse requirements of an ambitious policy agenda, but also US policy norms and priorities often clash with those of other regional actors. This has important implications for the capacity of the United States to provide regional leadership. Recent years have seen growing policy convergence between the United States and other Asia-Pacific actors, particularly in economic terms, but US regionalism continues to feature competition alongside collaboration.

Fiscal policy and US-Canadian trade

A factor-augmented vector autoregressive (FAVAR) model is applied to determine the effects of a rise in US government expenditure on the United States and Canadian economies. The results obtained reasonably characterize the effect of a rise in US government spending to the United States and Canadian economies emphasizing the role of the traded goods sector.

The underpricing of US REIT IPOs : 1996–2010

This study examines the underpricing cost of 123 US REIT IPOs over the period 1996 until June 2010, including the period of the global financial crisis. The study uses OLS multivariate regression to determine some potential factors behind underpricing. The underpricing cost of raising REIT external equity averaged 3.18% using an equal weighting for each of the 123 REIT IPOs. The study finds offer size is positively related to underpricing. A value weighted approach finds that underpricing averages 4.67% and suggests larger offer size is an important determinant for leaving more money on the table. Higher reputation underwriters, the industry differentiated auditor and post offer ownership structure negatively influence underpricing. The study documents declining underpricing over time with the period of 2007–2010 experiencing negative underpricing (overpricing) during the global financial crisis (GFC). Offers during the hot periods of 1997 and 2004 and the office/industrial property type were more highly underpriced. The 10-year treasury interest rate is identified as another significant positive determinant of underpricing.

Multiplatform innovation and participatory citizenship : the Australian Broadcasting Corporation’s digital children’s television projects

This paper examines children’s multiplatform commissioning at the Australian Broadcasting Corporation (ABC) in the context of the digitalisation of Australian television. A pursuit of audience share and reach to legitimise its recurrent funding engenders a strategy that prioritises the entertainment values of the ABC’s children’s offerings. Nevertheless, these multiplatform texts (comprising complementary ‘on-air’ and ‘online’ textualities) evidence a continuing commitment to a youth-focussed, public service remit, and reflect the ABC’s Charter obligations to foster innovation, creativity, participation, citizenship, and the values of social inclusiveness. The analysis focuses on two recent ‘marquee’ drama projects, Dance Academy (a contemporary teen series) and My Place (a historical series for a middle childhood audience). The research draws on a series of research interviews, analysis of policy documents and textual analysis of the television and multiplatform content. The authors argue that a mixed diet of programming, together with an educative or social developmental agenda, features in the design of both program and online participation for the public broadcaster.

What has transcranial magnetic stimulation taught us about neural adaptations to strength training? A brief review

The evidence for neural mechanisms underpinning rapid strength increases has been investigated and discussed for over 30 years using indirect methods, such as surface electromyography, with inferences made toward the nervous system. Alternatively, electrical stimulation techniques such as the Hoffman reflex, volitional wave, and maximal wave have provided evidence of central nervous system changes at the spinal level. For 25 years, the technique of transcranial magnetic stimulation (TMS) has allowed for noninvasive supraspinal measurement of the human nervous system in a number of areas such as fatigue, skill acquisition, clinical neurophysiology, and neurology. However, it has only been within the last decade that this technique has been used to assess neural changes after strength training. The aim of this brief review is to provide an overview of TMS, discuss specific strength training studies that have investigated changes, after short-term strength training in healthy populations in upper and lower limbs, and conclude with further research suggestions and the application of this knowledge for the strength and conditioning coach.

Courting kazaa : judicial approaches towards P2P networks in the US and Australia

As with the litigation involving its predecessor Napster, cases involving the Australian based P2P service Kazaa and its US licensees Grokster and Morpheus required from the courts to balance the legitimate interests of the computer industry and the public in new and advanced technologies on the one hand and of so-called "content providers " of the media and entertainment industry on the other hand. The article examines, how US and Australian courts have approached this task and, in spite of differences in the legal frameworks of the two countries, have reached similar conclusions.

Announcement effect on the credit spreads of US dollar Malaysian bonds

The main purpose of this paper is to extend the empirical research on the behavior of credit spreads on the USD denominated Malaysian bonds. We find that international political events have more influence on the changes of bond yield spreads from Malaysian USD issues than domestic events. Significant results are consistent across different issues. However, the resignation by the former Prime Minister, Dr Mahathir Mohamad, created a mixed response from the market. Using an error correction model, this study also found that the monetary policy by the US Federal Reserve has a long-term and significant impact on the behavior of the Malaysian USD issues. This study also provides further evidence that the current theoretical framework is sufficient to explain changes in the credit spread of bonds issued by the emerging market.

Not one of us is without bias : identifying and challenging racism and homophobia

This article reviews a teaching process that aimed to prepare final year social work students for critical practice with diverse and marginalized populations. Alongside lecture input, in small group discussions and in the two sequenced written assignments students were encouraged to personalize questions of bias and stigma by recalling both their experiences of being “other-ed” as well as their participation in practices that “other-ed”, such as racist and homophobic imaging and acting. Feedback to the unit’s first iteration in 2004 was generally positive yet a significant minority of students were clearly dissatisfied. Whilst retaining the same formal content in 2005, greater attention was devoted to generating a supportive group process and a positive environment for “negative” self-disclosure. This milieu acted to contain and normalize the students’ struggle with internalized stereotypes, a stage associated with their greater preparedness to identify and challenge their own personal, cultural and ideological locations. Within the context of the unit remaining explicit about its value stance, by adopting an approach to the teaching / learning process that neither collided nor colluded, as teachers we believe the 2005 revision better achieved the units aims. First, the unit received broader positive appraisal from students and, second, it appeared that the unit more firmly promoted the prospects for students carrying forward a capacity for critical self review post graduation.

Volatility transmission between stock and bond markets : evidence from US and Australia

This paper investigates the cross-market informational dependence between these assets under disparate interest rate conditions of the U.S and Australia. With conditional variance as a proxy for volatility, we use the BEKK – a matricular decomposition of the bivariate GARCH (1,1) model to examine the cross-market contemporaneous effect of information arrival. Applying the model to the stock and bond indices of both countries, we find evidence of volatility spillover, thereby supporting the notion of informational dependence between each market

Australian and US interest rate swap markets : comparison and linkages

We investigate and compare the determinants of US and Australian interest rate swap spreads and the linkages between these markets. The slope of the risk-free term structure is the most significant determinant and its importance is greater for longer terms to maturity. Interest rate levels and, in Australia, the default premium also have some impact. The influences of interest rate volatility, the liquidity premium and (in the USA) the default premium are small or negligible. We hypothesise, and our evidence confirms, that the US swap market significantly affects the Australian swap market but not vice-versa.