Dynamic Stock Market Interactions between the Canadian, Mexican, and the United States Markets: The NAFTA Experience

This paper explores the dynamic linkages that portray different facets of the joint probability distribution of stock market returns in NAFTA (i.e., Canada, Mexico, and the US). Our examination of interactions of the NAFTA stock markets considers three issues. First, we examine the long-run relationship between the three markets, using cointegration techniques. Second, we evaluate the dynamic relationships between the three markets, using impulse-response analysis. Finally, we explore the volatility transmission process between the three markets, using a variety of multivariate GARCH models. Our results also exhibit significant volatility transmission between the second moments of the NAFTA stock markets, albeit not homogenous. The magnitude and trend of the conditional correlations indicate that in the last few years, the Mexican stock market exhibited a tendency toward increased integration with the US market. Finally, we do note that evidence exists that the Peso and Asian financial crises as well as the stock-market crash in the US affect the return and volatility time-series relationships.

BLOOD PRESSURE CHANGES IN RELATION TO DEMOGRAPHIC, ANTHROPOMETRIC, AND SEXUAL MATURATION VARIABLES IN U.S. HEALTH EXAMINATION SURVEY OF CHILDREN AND YOUTHS (UNITED STATES)

The determinants of change in blood pressure during childhood and adolescence were studied in a cohort of U.S. national probability sample of 2146 children examined on two occasions during the Health Examination Survey. Significant negative correlations between the initial level and the subsequent changes in blood pressure were observed. The multiple regression analyses showed that the major determinants of systolic blood pressure (SBP) change were change in weight, baseline SBP, and baseline upper arm girth. Race, time interval between examinations, baseline age, and height change were also significant determinants in SBP change. For the change in diastolic blood pressure (DBP), baseline DBP, baseline weight, and weight change were the major determinants. Baseline SBP, time interval and race were also significant determinants. Sexual maturation variables were also considered in the subgroup analysis for girls. Weight change was the most important predictor of the change in SBP for the group of girls who were still in the pre-menarchal or pre-breast maturation status at the time of the follow-up examination, and who had started to menstruate or to develop breast maturation at sometime between the two examinations. Baseline triceps skinfold thickness or initial SBP were more important variables than weight change for the group of girls who had already experienced menarche or breast maturation at the time of the initial survey. For the total group, pubic hair maturation was found to be a significant predictor of SBP change at the 5% significance level. The importance of weight change and baseline weight for the changes in blood pressure warrants further study. ^

Opinions filed by the commissioners acting under the VII. article of the Treaty of Amity Commerce and Navigation between Great Britain and the United States of America : manuscript, 1797-1799

Opinions concerning the 7th article of the treaty.

The European Union and the United States, before the election: a much deeper mutual understanding. Jean Monnet/Robert Schuman Paper Series Vol. 12 Special, October 2012

From the Introduction. Governor Romney’s statement that President Obama was trying to convert the United States into a European state actually served to point out the need for a much deeper understanding of both entities to make considerable progress in the future. The need for a close alliance is taken for granted. However, the link is riddled with confusion and stereotypes. This relationship is considered a normal fact forged by mutual historical legacies. Hence the frequent signs of awkward behaviour and misunderstandings under the cover of the notion that potential damage will be corrected by the force of the special relationship. If conflicts are detected, both parties are said to be condemned to agree. If a lack of knowledge is detected, it will be modified by accessible means. Mechanisms for an understanding and cooperation are within reach. Therefore, an effective relationship is not utopian. However, there are areas in which much work is needed to strengthen the alliance and correct its shortcomings. There is a need, not only for agreements in economic and political issues, but also for a deeper understanding of the essence of both entities.