Zero-non-zero patterned vector error correction modeling for I(2) cointegrated time series with applications in testing PPP and stock market relationships

Vector error-correction models (VECMs) have become increasingly important in their application to financial markets. Standard full-order VECM models assume non-zero entries in all their coefficient matrices. However, applications of VECM models to financial market data have revealed that zero entries are often a necessary part of efficient modelling. In such cases, the use of full-order VECM models may lead to incorrect inferences. Specifically, if indirect causality or Granger non-causality exists among the variables, the use of over-parameterised full-order VECM models may weaken the power of statistical inference. In this paper, it is argued that the zero–non-zero (ZNZ) patterned VECM is a more straightforward and effective means of testing for both indirect causality and Granger non-causality. For a ZNZ patterned VECM framework for time series of integrated order two, we provide a new algorithm to select cointegrating and loading vectors that can contain zero entries. Two case studies are used to demonstrate the usefulness of the algorithm in tests of purchasing power parity and a three-variable system involving the stock market.

Thorium-230 coral chronology of a late prehistoric Hawaiian chiefdom

Documenting the history of settlement in Hawaii during the last few Centuries before European contact, is crucial to charting the evolution of the most complex chiefdom in Polynesia. It is precisely this period that Hawaii. and many Polynesian Societies, Underwent their most rapid changes in political, economic and social organisation. The last similar to 500 to 300 years in the C-14 calibration curve is problematic with wide fluctuations Often rendering large age spans that do not precisely date single events, especially troubling with a culture-historical record of similar to 1000 years duration. Here we present in extremely high precision Th-230 chronology for archaeologically constrained coral samples from a range of occupancy sites. Our high precision dates allow the time of site use to be clearly demonstrated. They also provide the first dates for habitation sites in Hawaii that clearly show contemporaneous occupation-the major problem in settlement pattern archaeology. We demonstrate that two sites were occupied within the same year. Our refined chronology, provides new and exciting oppurtunities for tracking sociopolitical and economic developments during the last few centuries-the crucial period in the evolution and transformation of Polynesian societies. (c) 2005 Elsevier Ltd. All rights reserved.

Gigantes do telejornalismo mundial Mutações editoriais e tecnológicas das agências internacionais de notícias

Esta tese resgata a história das agências de notícias que atuam em escala internacional (Reuters Television e Associated Press Television News), delimitando suas características operacionais dentro do fluxo informacional do telejornalismo mundial. Por meio dos estudos de caso da Reuters TV e da APTN, a tese mostra o funcionamento do ecossistema noticioso global, voltado para as emissoras de televisão, explorando o entendimento de como ele se comporta a partir da irrupção das novas mídias advindas com a internet. Aponta como o desenvolvimento das tecnologias digitais em rede provocou mudanças editoriais e logísticas na rotina produtiva das agências, vistas neste trabalho como importantes atores sociais da globalização. Ao mapear a dinâmica comercial e estrutural das agências, é sustentada a hipótese de que as reportagens transmitidas por essas empresas são, em sua maioria, determinadas pelos interesses políticos e econômicos de seus maiores clientes. Isso nos leva a ratificar que, ainda hoje, após 30 anos da publicação do Relatório McBride, da UNESCO, há uma assimetria no noticiário internacional, no qual alguns países, regiões e assuntos são negligenciados e excluídos. A tese revela, entre outros pontos, que as agências agora difundem um número expressivo de vídeos relacionados à Ásia e que a maior parte de suas reportagens tem imbricações com os Estados Unidos e/ou a Europa. Durante a cobertura midiática de eventos de grande impacto, as agências renovam seu capital simbólico vendendo a ideia de isenção, credibilidade e multiplicidade de vozes. Reforçam também papéis específicos: a organização do noticiário, a viabilização das imagens e a alimentação contínua, segura e veloz do fluxo informativo.

German pop music:a companion

The development of German pop music represents a fascinating cultural mirror to the history of post-war Germany, reflecting sociological changes and political developments. While film studies is an already established discipline, German pop music is currently emerging as a new and exciting field of academic study. This pioneering companion is the first volume to provide a comprehensive overview of the subject, charting the development of German pop music from the post-war period 'Schlager' to the present 'Diskursrock'. Written by acknowledged experts from Germany, the UK and the US, the various chapters provide overviews of pertinent genres as well as focusing on major bands such as CAN, Kraftwerk or Rammstein. While these acts have shaped the international profile of German pop music, the volume also undertakes in-depth examinations of the specific German contributions to genres such as punk, industrial, rap and techo. The survey is concluded by an interview with the leading German pop theorist Diedrich Diederichsen. The volume constitues an indispensible handbook for any student, teacher and scholar in the area of German studies interested in contemporary popular culture.

Future trends in human resource management in emerging markets

In many ways the emerging markets represent something of a new frontier for academics and practitioners alike, or as one author puts it, ‘a significant topic of interest for a multitude of constituencies’ (Alkire, 2014: 334). The very term itself ‘emerging markets’ is something of a portmanteau one built on a series of layered insights garnered from several academic fields and multiple levels of analysis. Originally coined as a term in the 1980s, albeit with several earlier linked terminologies, this is an evolving and diverse literature. Inherent in its diversity lies a whole series of opportunities, encompassing the purely theoretical through to the methodological and the analytical. Capturing the essence of this in his Editorial in the inaugural edition of The International Journal of Emerging Markets, Akbar (2006) noted that from an academic perspective the emerging markets as a context for the creation and execution of a sustainable research agenda represent ‘a heterogeneous group of economies and societies’ and an ‘important testing ground for our existing theories, models and concepts of business and management’ affording those who focus on them as a research location the opportunity for ‘the development of new theoretical contributions in the field’. In this volume, we have sought to bring some systematics to this evolving literature dedicated to charting HRM in these emerging markets.

Improved data visualisation through multiple dissimilarity modelling

Popular dimension reduction and visualisation algorithms rely on the assumption that input dissimilarities are typically Euclidean, for instance Metric Multidimensional Scaling, t-distributed Stochastic Neighbour Embedding and the Gaussian Process Latent Variable Model. It is well known that this assumption does not hold for most datasets and often high-dimensional data sits upon a manifold of unknown global geometry. We present a method for improving the manifold charting process, coupled with Elastic MDS, such that we no longer assume that the manifold is Euclidean, or of any particular structure. We draw on the benefits of different dissimilarity measures allowing for the relative responsibilities, under a linear combination, to drive the visualisation process.

From Clerk and Cashier to Guest Service Agent

In their study - From Clerk and Cashier to Guest Service Agent - by Nancy J. Allin, Director of Quality Assurance and Training and Kelly Halpine, Assistant Director of Quality Assurance and Training, The Waldorf-Astoria, New York, the authors state at the outset: “The Waldorf-Astoria has taken the positions of registration clerk and cashier and combined them to provide excellent guest service and efficient systems operation. The authors tell how and why the combination works. That thesis statement defines the article, and puts it squarely in the crosshairs of the service category. Allin and Halpine use their positions at the Waldorf-Astoria in New York City to frame their observations “The allocation of staff hours has been a challenge to many front office managers who try their hardest to schedule for the norm but provide excellent, efficient service throughout the peaks,” Allin and Halpine allude. “…the decision [to combine the positions of registration clerk and cashier] was driven by a desire to improve guest service where its impact is most obvious, at the front desk. Cross-trained employees speed the check-in and check-out process by performing both functions, as the traffic at the desk dictates,” the authors say. Making such a move has resulted in positive benefits for both the guests and the hotel. “Benefits to the hotel, in addition to those brought to bear by increased guest satisfaction, include greater flexibility in weekly scheduling and in granting vacations while maintaining adequate staffing at the desk,” say Allin and Halpine . “Another expected outcome, net payroll savings, should also be realized as a consequence of the ability to schedule more efficiently.” The authors point to communication as the key to designing a successful combination such as this, with the least amount of service disruption. They bullet-point what that communication should entail. Issues of seniority, wage and salary rates, organizational charting, filing, scheduling, possible probationary periods, position titles, and physical layouts are all discussed. “It is critical that each of the management issues be addressed and resolved before any training is begun,” Allin and Halpine suggest. “Unresolved issues project confusion and lack of conviction to line employees and the result is frustration and a lack of commitment to the combination process,” they push the thought Allin and Halpine insist: “Once begun, training must be ongoing and consistent.” In the practical sense, the authors provide that authorizing overtime is helpful in accomplishing training. “Training must address the fact that employees will be faced with guest situations which are new to them, for example: an employee previously functioning as a cashier will be faced with walking guests. Specific exercises should be included to address these needs,” say the authors.

Nursing case management : a new perspective to caring for patients with hip fracture

Nursing Case Management has motivated nurses to examine the effects of care provided to patients, and to devise means of improving this care. The success of this nursing care delivery model is well documented among a variety of acute and chronically ill patients. Utilizing nonparametric ANOVA for comparison of two means, this study investigates the outcome of the implementation of a nursingcase management model on an orthopedic unit of a local hospital. A convenience sample (N=149) of hip-fracture patients for two separate eight months charting periods were used. The first period was pre-case management and the second period was after the implementation of nursing managed care on the unit. Results suggested that nursing case management was effective in reducing the total length of hospital stay and post-operative days significantly.

Annotated record of the detailed examination of Mn nodules recovered from the VA04 expedition (R/V Valdivia) in the Pacific Ocean

Twenty-four manganese nodules from the surface of the sea floor and fifteen buried nodules were studied. With three exceptions, the nodules were collected from the area covered by Valdivia Cruise VA 04 some 1200 nautical miles southeast of Hawaii. Age determinations were made using the ionium method. In order to get a true reproduction of the activity distribution in the nodules, they were cut in half and placed for one month on nuclear emulsion plates to determine the alpha-activity of the ionium and its daughter products. Special methods of counting the alpha-tracks resolution to depth intervals of 0.125 mm. For the first time it was possible to resolve zones of rapid growth (impulse growth) with growth rates, s > 50 mm/106 yr and interruptions in growth. With few exceptions the average rate of growth of all nodules was surprisingly uniform at 4-9 mm/10 yr. No growth could be recognized radioactively in the buried nodules. One exceptional nodule has had recent impulse growth and, in the material formed, the ionium is not yet in equilibrium with its daughter products. Individual layers in one nodule from the Indian Ocean could be dated and an average time interval of t = 2600±400 yr was necessary to form one layer. The alternation between iron and manganese-rich parts of the nodules was made visible by colour differences resulting from special treatment of cut surfaces with HCl vapour. The zones of slow growth of one nodule are relatively enriched in iron. Earlier attempts to find paleomagnetic reversals in manganese nodules have been continued. Despite considerable improvement in areal resolution, reversals were not detected in the nodules studied. Comparisons of the surface structure, microstructure in section and the radiometric dating show that there are erosion surfaces and growth surfaces on the outer surfaces of the manganese nodules. The formation of cracks in the nodules was studied in particular. The model of age-dependent nodule shrinkage and cracking surprisingly indicates that the nodules break after exceeding a certain age and/or size. Consequently, the breaking apart of manganese nodules is a continuous process not of catastrophic or discontinuous origin. The microstructure of the nodules exhibits differences in the mechanism of accretion and accretion rate of material, shortly referred to as accretion form. Thus non-directional growth inside the nodules as well as a directional growth may be observed. Those nodules with large accretion forms have grown faster than smaller ones. Consequently, parallel layers indicate slow growth. The upper surfaces of the nodules, protruding into the bottom water appear to be more prone to growth disturbances than the lower surfaces, immersed in the sediment. Features of some nodules show, that as they develop, they neither turned nor rolled. Yet unknown is the mechanism that keeps the nodules at the surface during continuous sedimentation. All in all, the nodules remain the objects of their own distinctive problems. The hope of using them as a kind of history book still seems to be very remote.

Assessing the immune phenotype of cardiac syndrome x: a prospective study of biomarkers

Cardiac Syndrome X (CSX), the presence of angina pectoris with objective signs of myocardial ischaemia despite angiographically normal epicardial coronary arteries, appears to be due to coronary microvascular dysfunction and is known to be associated with an elevation of several inflammatory biomarkers, suggesting a possible role for inflammation in its pathogenesis. We aimed to further characterise this relationship by prospectively analysing a wide variety of molecular biomarkers in a cohort of CSX patients thereby charting the changes in biomarkers throughout the natural history of CSX from its initial diagnosis to eventual disease quiescence. We found that CSX patients, when compared to healthy controls, have a persistent low-grade systemic inflammatory response characterised by an elevation of Tumour Necrosis Factor and Interferon-gamma, regardless of the presence of contemporaneous signs or symptoms of disease activity. Interleukin-6 and C-reactive Protein (CRP) are only elevated when patients have clinical evidence of disease activity and may be state markers in CSX. Moreover, CRP levels appear to correlate with signals of disease severity such as the time taken to develop symptoms during exercise stress testing. We have also demonstrated that the enzyme Indoleamine-2,3- dioxygenase is upregulated in active disease thus providing a possible explanation for the increased burden of psychological disease encountered in CSX. Analysis of the microRNA transcriptome showed that miR-143 is significantly under-expressed in CSX patients. This could allow phenotype switching in vascular smooth muscle cells with the resultant vascular remodelling causing reduced vessel responsiveness to local rheological stimuli and reduced luminal diameter with consequent increased microvascular resistance during times of increased myocardial oxygen demand, thereby limiting maximal hyperaemia during exercise. Our findings corroborate many previous hypotheses regarding the role of inflammation in CSX, generate new insights into possible pathogenic mechanisms and offer new therapeutic targets for the future management of this important cardiological condition.

Current meter measurements in the equatorial Atlantic

From 27 January to 23 June 1979 R.V. "Meteor" surveyed the central equatorial Atlantic on a section along 22° W from 3° N to 2° S. During the observation period, a hydrographic section down to 600 m was repeated ten times with a continous "Howaldt-Bathysonde" CTD and a rosette sampler. The station distance was 10 to 15 nm. The water samples were used to recalibrate salinity and to determine oxygen, nutrients and chlorophyll a. An undulating CTD system ("Delphin") was towed on 11 sections. A profiling distance of one to two nautical miles and a profile depth of 90 m was obtained. Five current meter arrys were moored along 22° W between 3° N and 1°S from January to March 1979. In May and June two moorings were installed at 2° N and at the equator. On the buoys measurements of wind speed and direction were obtained. At 43 stations a wire-guided Aanderaa profiling current meter was successfully lowered. Drifting buoy experiments were repeated three times with clusters of 5 to 10 buoys. A fourth experiment took place in 1978 in the Gulf of Guinea. On the way from and to XBT sections were carried out. The data sets obtained by these instruments are presented in this data report.

Motion Sickness

Over 2000 years ago the Greek physician Hippocrates wrote, “sailing on the sea proves that motion disorders the body.” Indeed, the word “nausea” derives from the Greek root word naus, hence “nautical,” meaning a ship. The primary signs and symptoms of motion sickness are nausea and vomiting. Motion sickness can be provoked by a wide variety of transport environments, including land, sea, air, and space. The recent introduction of new visual technologies may expose more of the population to visually induced motion sickness. This chapter describes the signs and symptoms of motion sickness and different types of provocative stimuli. The “how” of motion sickness (i.e., the mechanism) is generally accepted to involve sensory conflict, for which the evidence is reviewed. New observations concern the identification of putative “sensory conflict” neurons and the underlying brain mechanisms. But what reason or purpose does motion sickness serve, if any? This is the “why” of motion sickness, which is analyzed from both evolutionary and nonfunctional maladaptive theoretic perspectives. Individual differences in susceptibility are great in the normal population and predictors are reviewed. Motion sickness susceptibility also varies dramatically between special groups of patients, including those with different types of vestibular disease and in migraineurs. Finally, the efficacy and relative advantages and disadvantages of various behavioral and pharmacologic countermeasures are evaluated.

‘Don’t look down!’: A short history of rooftopping photography

The article examines the practice known as ‘rooftopping photography’ and its significance for the representation of vertical cities. It begins by charting the historical development of architecture as a viewing platform in the age of the camera, and dwells on the imagery of cityscapes from above that emerged in the inter-war period. Against this background, the essay investigates how rooftopping arose out of the urban exploration movement and became a global trend in the early 2010s. This phenomenon is situated within its wider social and cultural context, and is discussed with reference to the online media discourse that contributed to its public visibility. A set of ideas from the philosophy of photography and visual culture inform the critical analysis of rooftopping photographs: this broad and diverse body of images is examined with a focus on two predominant modes of representation—panoramic and plunging views. The affective responses elicited by so-called ‘vertigo-inducing’ images are discussed through the concept of vicarious kinaesthesia, which offers insights into the nexus between visceral experience and visual representation that lies at the core of rooftopping. By unpacking this interplay, the essay explores a phenomenon that has hitherto been given little scholarly attention and reflects on its broader implications for the relationship between photography and architecture today.

The Meanings of New Money: Social Constructions of Value in the Rise of Digital Currencies

Thesis (Ph.D.)--University of Washington, 2016-07