Panicca: panic on cross-section averages

The cross-section average (CA) augmentation approach of Pesaran (2007) and Pesaran et al. (2013), and the principal components-based panel analysis of non-stationarity in idiosyncratic and common components (PANIC) of Bai and Ng (2004, 2010) are among the most popular “second-generation” approaches for cross-section correlated panels. One feature of these approaches is that they have different strengths and weaknesses. The purpose of the current paper is to develop PANICCA, a combined approach that exploits the strengths of both CA and PANIC.

Aggregate volatility risk and the cross-section of stock returns: Australian evidence

This study examines the relation between aggregate volatility risk and the cross-section of stock returns in Australia. We use a stock's sensitivity to innovations in the ASX200 implied volatility (VIX) as a proxy for aggregate volatility risk. Consistent with theoretical predictions, aggregate volatility risk is negatively related to the cross-section of stock returns only when market volatility is rising. The asymmetric volatility effect is persistent throughout the sample period and is robust after controlling for size, book-to-market, momentum, and liquidity issues. There is some evidence that aggregate volatility risk is a priced factor, especially in months with increasing market volatility.

Cross-sectional geometry of weight-bearing tibia in female athletes subjected to different exercise loadings

Summary The association of long-termsport-specific exercise loading with cross-sectional geometry of the weight-bearing tibia was evaluated among 204 female athletes representing five different exercise loadings and 50 referents. All exercises involving ground impacts (e.g., endurance running, ball games, jumping) were associated with thicker cortex at the distal and diaphyseal sites of the tibia and also with large diaphyseal cross-section, whereas the high-magnitude (powerlifting) and non-impact (swimming) exercises were not. Introduction Bones adapt to the specific loading to which they are habitually subjected. In this cross-sectional study, the association of long-term sport-specific exercise loading with the geometry of the weight-bearing tibia was evaluated among premenopausal female athletes representing 11 different sports.

Methods A total of 204 athletes were divided into five exercise loading groups, and the respective peripheral quantitative computed tomographic data were compared to data obtained from 50 physically active, non-athletic referents. Analysis of covariance was used to estimate the between-group differences.

Results At the distal tibia, the high-impact, odd-impact, and repetitive low-impact exercise loading groups had ~30% to 50% (p<0.05) greater cortical area (CoA) than the referents. At the tibial shaft, these three impact groups had ~15% to 20% (p<0.05) greater total area (ToA) and ~15% to 30% (p<0.05) greater CoA. By contrast, both the high-magnitude and repetitive non-impact groups had similar ToA and CoA values to the reference group at both tibial sites.

Conclusions High-impact, odd-impact, and repetitive lowimpact exercise loadings were associated with thicker cortex at the distal tibia. At the tibial shaft, impact loading was not only associated with thicker cortex, but also a larger cross-sectional area. High-magnitude exercise loading did not show such associations at either site but was comparable to repetitive non-impact loading and reference data. Collectively, the relevance of high strain rate together with moderate-to-high strain magnitude as major determinants of osteogenic loading of the weight-bearing tibia is implicated.

Images of cross sections of some surgical suture thread

The data represents characterisation of future threads for orthopedic applications.

A cross-sectional study of the individual, social, and built environmental correlates of pedometer based physical activity among elementary school children

Background: Children who participate in regular physical activity obtain health benefits. Preliminary pedometerbased cut-points representing sufficient levels of physical activity among youth have been established; however limited evidence regarding correlates of achieving these cut-points exists. The purpose of this study was to identify correlates of pedometer-based cut-points among elementary school-aged children.
Method: A cross-section of children in grades 5-7 (10-12 years of age) were randomly selected from the most (n = 13) and least (n = 12) ‘walkable’ public elementary schools (Perth, Western Australia), stratified by socioeconomic status. Children (n = 1480; response rate = 56.6%) and parents (n = 1332; response rate = 88.8%) completed a survey, and steps were collected from children using pedometers. Pedometer data were categorized to reflect the sex-specific pedometer-based cut-points of ≥15000 steps/day for boys and ≥12000 steps/day for girls. Associations between socio-demographic characteristics, sedentary and active leisure-time behavior, independent mobility, active transportation and built environmental variables - collected from the child and parent surveys - and meeting pedometer-based cut-points were estimated (odds ratios: OR) using generalized estimating equations.
Results: Overall 927 children participated in all components of the study and provided complete data. On average, children took 11407 ± 3136 steps/day (boys: 12270 ± 3350 vs. girls: 10681 ± 2745 steps/day; p < 0.001) and 25.9% (boys: 19.1 vs. girls: 31.6%; p < 0.001) achieved the pedometer-based cut-points. After adjusting for all other variables and school clustering, meeting the pedometer-based cut-points was negatively associated (p < 0.05) with being male (OR = 0.42), parent self-reported number of different destinations in the neighborhood (OR 0.93), and a friend’s (OR 0.62) or relative’s (OR 0.44, boys only) house being at least a 10-minute walk from home. Achieving the pedometer-based cut-points was positively associated with participating in screen-time < 2 hours/day (OR 1.88), not being driven to school (OR 1.48), attending a school located in a high SES neighborhood (OR 1.33), the average number of steps among children within the respondent’s grade (for each 500 step/day increase: OR 1.29), and living further than a 10-minute walk from a relative’s house (OR 1.69, girls only).
Conclusions: Comprehensive multi-level interventions that reduce screen-time, encourage active travel to/from school and foster a physically active classroom culture might encourage more physical activity among children.

How active are people in metropolitan parks? An observational study of park visitation in Australia

BACKGROUND: Parks are generally an under-utilized resource in the community with great potential to enhance levels of physical activity. If parks are to attract more visitors across a broad cross-section of the population and facilitate increased physical activity, research is needed to better understand park visitor characteristics and how visitors spend their time in parks. The Recording and EValuating Activity in a Modified Park (REVAMP) study is a natural experiment monitoring a park upgrade in a low socioeconomic status (SES) neighborhood. This study described the observed baseline characteristics of park visitors (age, sex) and characteristics of visitation (weekday or weekend day, period of the day) and explored how these characteristics were associated with observed park-based physical activity in two metropolitan parks located Melbourne, Australia. METHODS: Direct observations of park visitors were conducted using a modified version of SOPARC (the System for Observing Play and Recreation in Communities) on four weekdays and four weekend days. During weekdays, observations were conducted every hour from 7:30 am-4:30 pm and on weekend days from 8:30 am-4:30 pm. This equated to a total of 1460 scans across the two parks. Chi-square tests examined bivariate associations between park-based physical activity, and socio-demographic and park visitation characteristics. Logistic regression models examined the odds of being observed engaging in moderate- to vigorous-intensity physical activity relative to lying/sitting/standing according to socio-demographic and park visitation characteristics. RESULTS: In total, 4756 park visitors were observed with the majority visiting on weekend days (87 %) and in the afternoon (41 %). Most visitors (62 %) were lying, sitting or standing, with only 29 % observed engaging in moderate-intensity and 9 % in vigorous-intensity physical activity. Park use differed by time of day, sex, age group, and neighborhood SES. Physical activity was lower for women than men (OR 0.76) and higher among visitors in the high SES area (OR 1.52). CONCLUSIONS: Parks offer substantial opportunities for people of all ages to engage in physical activity; however, this study showed that a large proportion of the park visitors observed were engaged in sedentary pursuits. Further research on how park design, amenities and programming can optimize park visitation and park-based physical activity is needed. TRIAL REGISTRATION: Current controlled trial ISRCTN50745547 , registration date 11.1.2014.

UV protection performance of textiles affected by fiber cross-sectional shape

Abstract
In this study, a model was set up for simulating the effects of varying fiber cross-sectional shapes on ultraviolet protection of fibers. The fiber diameter and fiber type were also involved in the model setting. Experiments of diffuse reflectance spectra measurement on natural (wool, cotton, silk), regenerated (bamboo viscose) and synthetic (polyester, nylon) fibers were conducted to verify the model predicted results. When a more complex shape was assumed as the fiber cross-section for model calculation, the predicted results have a better agreement with the actual results. The effects on ultraviolet absorption from fibers with different cross-sectional shapes were investigated at a single fiber, fiber bundle and yarn levels. With the same material, when the fiber cross-sectional area and the areal coverage of a single fiber were constant, the triangular shape had the lowest ultraviolet transmittance and the highest ultraviolet reflectance for a single fiber and also for a fiber bundle. The difference of fiber cross-sectional shapes was also significant in the ultraviolet protection of a single yarn.

Cross-sectional averages versus principal components

In spite of the increased use of factor-augmented regressions in recent years, little is known regarding the relative merits of the two main approaches to estimation and inference, namely, the cross-sectional average and principal component estimators. By providing a formal comparison of the approaches, the current paper fills this gap in the literature.

A preliminary adaptation of the Problem Gambling Severity Index for Indigenous Australians: internal reliability and construct validity

Objective: This paper describes the process employed to adapt the Problem Gambling Severity Index (PGSI) for use with Indigenous Australian populations.Methods: This study comprised a two-stage process: an initial consultation with Indigenous health workers, informing the textual and conceptual adaptation of items, followed by trial of the adjusted instrument with Indigenous community members (n=301).Results: Internal reliability was demonstrated: Australian Indigenous Problem Gambling Index (AIPGI) Cronbach's alpha α = 0.92 (Original PGSI, α = 0.84). Item-rest correlations confirmed that responses to items were consistent and related to the total score of remaining items. The AIPGI could predict gambling severity based on gambling frequency, when controlling for age and gender (OR=1.28, 95%CI 1.17–1.40).Conclusions: The adapted instrument is accessible to a cross-section of Indigenous Australians and has demonstrated properties of reliability and validity. An extended trial is needed to test the application of the instrument to a broader Indigenous audience and to further explore and confirm psychometric properties of the adapted instrument.Implications: This study introduces a culturally adapted tool for measuring rates of disordered gambling among Indigenous Australians.

At the crossroads: does the configuration of roadside vegetation affect woodland bird communities in rural landscapes?

In agricultural regions worldwide, linear networks of vegetation such as hedges, fencerows and live fences provide habitat for plant and animal species in heavily modified landscapes. In Australia, networks of remnant native vegetation along roadsides are a distinctive feature of many rural landscapes. Here, we investigated the richness and composition of woodland-dependent bird communities in networks of eucalypt woodland vegetation along roadsides, in an agricultural region in which >80% of native woodland and forest vegetation has been cleared. We stratified sites in a) cross sections and b) linear strips of roadside vegetation, to test the influence on woodland birds of site location and configuration in the linear network (the 'intersection effect'). We also examined the influence of tree size at the site, the amount of wooded vegetation surrounding the site, and the abundance of an aggressive native species, the noisy miner Manorina melanocephala. Birds were surveyed at 26 pairs of sites (cross section or linear strip) on four occasions. A total of 66 species was recorded, including 35 woodland species. The richness of woodland bird species was influenced by site configuration, with more species present at cross sections, particularly those with larger trees (>30 cm diameter). However, the strongest influence on species richness was the relative abundance of the noisy miner. The richness of woodland birds at sites where noisy miners were abundant was ~20% of that where miners were absent. These results recognise the value of networks of roadside vegetation as habitat for woodland birds in depleted agricultural landscapes; but highlight that this value is not realised for much of this vast vegetation network because of the dominance of the noisy miner. Nevertheless, roadside vegetation is particularly important where the configuration of networks create nodes that facilitate movement. Globally, the protection, conservation and restoration of such linear networks has an important influence on the persistence of biota within human-dominated landscapes.