Rule Britannia!: British Stock Market Returns, 1825-1870

This article presents a new series of monthly equity returns for the British stock market for the period 1825-1870. In addition to calculating capital appreciation and dividend yields, the article also estimates the effect of survivorship bias on returns. Three notable findings emerge from this study. First, stock market returns in the 1825-1870 period are broadly similar for Britain and the United States, although the British market is less risky. Second, real returns in the 1825-1870 period are higher than in subsequent epochs of British history. Third, unlike the modern era, dividends are the most important component of returns.

The rate of return on equity across industrial sectors on the British stock market, 1825-70

This article assesses the contribution of the various industrial sectors to the growth of the British equity market in the 1825–70 period. It also provides estimates of the rates of return on these industrial sectors in this period. The article then proceeds to examine whether differences in rates of return across the various sectors can be explained by risk or other financial factors. One of the main findings is that the relatively high rates of return in the banking, insurance, and miscellaneous sectors appear to be in some measure explained by the presence of extended liability and uncalled capital.

GAUSSIAN PULSE SCATTERING BY NONLINEAR THUE-MORSE QUASIPERIODIC MULTILAYERS

The pulse mixing and scattering by finite nonlinear Thue-Morse quasi-periodic dielectric multilayered structure illuminated by two Gaussian pulses with different centre frequencies and lengths are investigated. The three-wave mixing technique is applied to study the nonlinear processes. The properties of the scattered waveforms and the effects of the structure and the incident pulses' parameters on the mixing process are discussed.

Pulse mixing by Fibonacci and Thue-Morse ordered semiconductor layers

The properties of combinatorial frequency generation by two-tone Gaussian pulses incident at oblique angles on quasiperiodic (Fibonacci and Thue-Morse) stacks of binary semiconductor layers are discussed. The analysis has been performed using the self-consistent model taking into account the nonlinear dynamics of mobile charges in the layers. The effects of the stack arrangements and constituent layer parameters on the combinatorial frequency waveforms are presented for the specific structures of both types

Are older people prescribed antidepressants on the basis of fewer symptoms of depression, and for longer periods of time? A survey of 1825 New Zealanders

Aims: To determine whether older people are prescribed antidepressants at lower levels of depression and with fewer symptoms, and whether they are more likely to engage in chronic usage. Methods: An online survey about experiences with, and opinions about, depression and antidepressants, was completed by 1,825 New Zealand adults who had been prescribed antidepressants in the preceding five years. Results: Participants over 55 were prescribed antidepressants with significantly fewer symptoms and were significantly less likely to meet DSM criteria for depression. They were also significantly more likely to have used the drugs for three years and still be using them. Conclusions: Prescribing physicians and their older patients might benefit from discussing the pros and cons of antidepressants (including the additional risk factors with this age group) and the alternatives; and, if prescription does occur, careful monitoring to avoid unnecessary, potentially damaging, long-term use is recommended.

Morse Island Creek S094

The South Carolina Department of Natural Resources provides maps to recreational and state shellfish grounds, available to the public for recreational harvesting or to commercial harvest. This map shows the location of Morse Island Creek S094 Recreational Shellfish Ground in Beaufort County.