Commercial real estate return distributions: a review of literature and empirical evidence

This paper review the literature on the distribution of commercial real estate returns. There is growing evidence that the assumption of normality in returns is not safe. Distributions are found to be peaked, fat-tailed and, tentatively, skewed. There is some evidence of compound distributions and non-linearity. Public traded real estate assets (such as property company or REIT shares) behave in a fashion more similar to other common stocks. However, as in equity markets, it would be unwise to assume normality uncritically. Empirical evidence for UK real estate markets is obtained by applying distribution fitting routines to IPD Monthly Index data for the aggregate index and selected sub-sectors. It is clear that normality is rejected in most cases. It is often argued that observed differences in real estate returns are a measurement issue resulting from appraiser behaviour. However, unsmoothing the series does not assist in modelling returns. A large proportion of returns are close to zero. This would be characteristic of a thinly-traded market where new information arrives infrequently. Analysis of quarterly data suggests that, over longer trading periods, return distributions may conform more closely to those found in other asset markets. These results have implications for the formulation and implementation of a multi-asset portfolio allocation strategy.

Dementia and cancer: a review of the literature and current practice

Age is a risk factor for dementia, and also for most cancers. Surprisingly, rates of cancer appear to be lower in individuals with dementia and vice versa. Genetic mechanisms could underpin this inverse relationship and are outlined, but underdiagnosis must also be taken into account. Individuals with cancer and dementia pose unique challenges to healthcare professionals owing to the potential for impaired decision-making capacity, poor communication and difficulties following medication regimes. Mild cognitive impairment and ‘chemo brain’ should be differentiated from progressive neurodegeneration.

Through Jewish eyes: polemical literature and the medieval papacy

Although the medieval papacy's stance towards the Jews is a well-established area of research, Jewish ideas about the papacy remain a surprisingly underdeveloped historical topic. This article explores such ideas through the genre of polemic and disputational literature. Jewish writers were keen to ensure the safety of their communities in western Europe and grateful for statements of papal protection. They fully acknowledged that popes had always played and would continue to play an important role in safeguarding their well-being and determining their future. Yet although contemporary and later writers often valued papal protection more highly than that of monarchs, emperors or clergy, they also knew that it had its carefully circumscribed limits. Furthermore, although they were respectful of the papacy's power, both spiritual and temporal, they were dismissive of the scriptural and theological formulations on which Christian claims for apostolic authority rested and highly critical of Christian beliefs about the papacy, in particular that of apostolic succession. Jewish ideas about both individual popes and the medieval papacy as an institution are therefore nuanced and complex; they deserve rigorous and wide-ranging investigation and it is hoped that this article will contribute to their better understanding.

Alanine-rich amphiphilic peptide containing the RGD cell adhesion motif: a coating material for human fibroblast attachment and culture

We studied the self-assembly of peptide A6RGD (A: alanine, R: arginine, G: glycine, D: aspartic acid) in water, and the use of A6RGD substrates as coatings to promote the attachment of human cornea stromal fibroblasts (hCSFs). The self-assembled motif of A6RGD was shown to depend on the peptide concentration in water, where both vesicle and fibril formation were observed. Oligomers were detected for 0.7 wt% A6RGD, which evolved into short peptide fibres at 1.0 wt% A6RGD, while a co-existence of vesicles and long peptide fibres was revealed for 2–15 wt% A6RGD. A6RGD vesicle walls were shown to have a multilayer structure built out of highly interdigitated A6 units, while A6RGD fibres were based on β-sheet assemblies. Changes in the self-assembly motif with concentration were reflected in the cell culture assay results. Films dried from 0.1–1.0 wt% A6RGD solutions allowed hCSFs to attach and significantly enhanced cell proliferation relative to the control. In contrast, films dried from 2.5 wt% A6RGD solutions were toxic to hCSFs.

Climate-driven spatial mismatches between British orchards and their pollinators: increased risks of pollination deficits

Understanding how climate change can affect crop-pollinator systems helps predict potential geographical mismatches between a crop and its pollinators, and therefore identify areas vulnerable to loss of pollination services. We examined the distribution of orchard species (apples, pears, plums and other top fruits) and their pollinators in Great Britain, for present and future climatic conditions projected for 2050 under the SRES A1B Emissions Scenario. We used a relative index of pollinator availability as a proxy for pollination service. At present there is a large spatial overlap between orchards and their pollinators, but predictions for 2050 revealed that the most suitable areas for orchards corresponded to low pollinator availability. However, we found that pollinator availability may persist in areas currently used for fruit production, but which are predicted to provide sub-optimal environmental suitability for orchard species in the future. Our results may be used to identify mitigation options to safeguard orchard production against the risk of pollination failure in Great Britain over the next 50 years; for instance choosing fruit tree varieties that are adapted to future climatic conditions, or boosting wild pollinators through improving landscape resources. Our approach can be readily applied to other regions and crop systems, and expanded to include different climatic scenarios.

Pre-Raphaelitism, science and the arts in 'The Germ'

This article demonstrates for the first time how dense the references to science are within the Pre-Raphaelite periodical 'The Germ' (1850). By reading the essays from this magazine together, as they were first published, it is possible to see how thoroughly the Pre-Raphaelites theorised their artistic project in terms of a particular mid-Victorian ideal of science. At the same time, the magazine became a forum in which the question of how far the arts ought to take account of science could be debated. In this debate, the competing visions of Pre-Raphaelitism discussed in Holman Hunt’s later accounts of the movement can be seen emerging at a very early stage in its history.

Determinants of biosecurity behaviour of British cattle and sheep farmers: a behavioural economics analysis

The paper analyses the impact of a priori determinants of biosecurity behaviour of farmers in Great Britain. We use a dataset collected through a stratified telephone survey of 900 cattle and sheep farmers in Great Britain (400 in England and a further 250 in Wales and Scotland respectively) which took place between 25 March 2010 and 18 June 2010. The survey was stratified by farm type, farm size and region. To test the influence of a priori determinants on biosecurity behaviour we used a behavioural economics method, structural equation modelling (SEM) with observed and latent variables. SEM is a statistical technique for testing and estimating causal relationships amongst variables, some of which may be latent using a combination of statistical data and qualitative causal assumptions. Thirteen latent variables were identified and extracted, expressing the behaviour and the underlying determining factors. The variables were: experience, economic factors, organic certification of farm, membership in a cattle/sheep health scheme, perceived usefulness of biosecurity information sources, knowledge about biosecurity measures, perceived importance of specific biosecurity strategies, perceived effect (on farm business in the past five years) of welfare/health regulation, perceived effect of severe outbreaks of animal diseases, attitudes towards livestock biosecurity, attitudes towards animal welfare, influence on decision to apply biosecurity measures and biosecurity behaviour. The SEM model applied on the Great Britain sample has an adequate fit according to the measures of absolute, incremental and parsimonious fit. The results suggest that farmers’ perceived importance of specific biosecurity strategies, organic certification of farm, knowledge about biosecurity measures, attitudes towards animal welfare, perceived usefulness of biosecurity information sources, perceived effect on business during the past five years of severe outbreaks of animal diseases, membership in a cattle/sheep health scheme, attitudes towards livestock biosecurity, influence on decision to apply biosecurity measures, experience and economic factors are significantly influencing behaviour (overall explaining 64% of the variance in behaviour).

Cultural policy, literature and readership in revolutionary Cuba: the view from the 21st century

This article presents a fresh perspective on cultural policy in revolutionary Cuba, focusing specifically on the centrality of dialogue with the general readership to the production, reception and regulation of literature. It first summarises the positions regarding revolutionary literature that have been asserted and essayed at various points along the sometimes chaotic trajectory of revolution in Cuba. It then examines reading-related policies and recent attempts within Cuba to re-orient reading practices in the aftermath of the Período Especial [Special Period], and ends by presenting current Cuban debates on the need to mitigate dialogic breakdown between literary text and readership.

All friends now? Critical conversations, West Indian literature and 'The Quarrel with History'

In this essay Alison Donnell returns to the material object of Edward Baugh's essay, published in the pages of the Trinidadian little magazine Tapia in 1977, in order to re-read the force of its arguments in the context of its own politicocultural history and to assess the significance of its publication venue. Donnell attends to Baugh's own standing in the highly charged field of Caribbean literary criticism as a critic of both Walcott and Naipaul, and acknowledges his creative contribution to this field as a poet. She also considers how, in the years between the original publication of Baugh's article and its republication, the questions of historical invisibility have entered newly disputed territories that demand attention to how gender, indigeneity, spirituality, and sexuality shape ideas of historical and literary legitimacy, in addition to those foundational questions around a politics of race and class.

Writing westwards: medieval English literature and its early modern Irish audiences

Quite a few texts from England were translated into Irish in the fifteenth and early-sixteenth centuries. The number of these texts was significant enough to suggest that foreign material of this sort enjoyed something of a vogue in late-medieval Ireland. Translated texts include Mandeville’s Travels, Guy of Warwick, Bevis of Hampton, Fierabras and a selection of saints’ lives. Scholars have paid little attention to the origins and initial readerships of these texts, but still less research has been conducted into their afterlife in early modern Ireland. However, a strikingly high number of these works continued to be read and copied well into the seventeenth century and some, such as the Irish translations of Octavian and William of Palerne, only survive in manuscripts from this later period. This paper takes these translations as a test case to explore the ways in which a cross-period approach to such writing is applicable in Ireland, a country where the renaissance is generally considered to have taken little hold. It considers the extent to which Irish reception of this translated material shifts and evolves in the course of this turbulent period and whether the same factors that contributed to the continued demand for a range of similar texts in England into the seventeenth century are also discernible in the Irish context.

War and culture studies in 2016. Putting 'translation' into the transnational?

The first issue of the 'Journal of War and Culture Studies' in 2008 mapped out the academic space which the discipline sought to occupy. Nearly a decade later, the location of war, traditionally within the nation-state, is being challenged in ways which arguably affect the analytical spaces of War and Culture Studies. The article argues for an overt engagement with a reconceptualization of the location of war as broader in both spatial and temporal terms than the nation-state. Within this framing, it identifies local 'contact zones' which are multi-vocal translational spaces, and calls for an incorporation of 'translation' into our analyses of war: translating identities, including associations of the material as well as of subjective identities, and espousing a conscious interdisciplinarity which might lead us to focus more on the performative than the representational. Putting 'translation' into the 'transnational' marks the spaces of War and culture studies as multilingual, making accessible the cultural products and cultural analyses of a much broader range of sources and reflections. The article calls for the discipline of Translation Studies to become a leading contributor to War and Culture Studies in the years to come.