Another Look to the Price-Dividend Ratio: A Markov-Switching Approach

This paper analyzes the stationarity of this ratio in the context of a Markov-switching model à la Hamilton (1989) where an asymmetric speed of adjustment is introduced. This particular specification robustly supports a nonlinear reversion process and identifies two relevant episodes: the post-war period from the mid-50’s to the mid-70’s and the so called “90’s boom” period. A three-regime Markov-switching model displays the best regime identification and reveals that only the first part of the 90’s boom (1985-1995) and the post-war period are near-nonstationary states. Interestingly, the last part of the 90’s boom (1996-2000), characterized by a growing price-dividend ratio, is entirely attributed to a regime featuring a highly reverting process.

Hydrographic observations in Elkhorn Slough and Moss Landing Harbor, California, October 1970 to November 1971. Annual report, Part 3, July 1972

In October 1970, Moss Landing Marine Laboratories began an observational program to determine/the seasonal changes in the water chemistry of Elkhorn Slough and Moss Landing Harbor. This data report contains the first year of data (October 1970 - November 1971). These data are of immediate interest in determining the flushing and mixing mechanisms of the slough and in establishing the effect that local domestic and industrial effluents have on the distribution of these chemical parameters. (Document contains 78 Pages)

Summary of Precipitation and Streamflow for Potrero and San Clemente Creeks in Water-Year 2007, Santa Lucia Preserve, Monterey County, California

In March 2007 CSU-Monterey Bay began hydrologic monitoring of Santa Lucia Preserve for the Santa Lucia Conservancy. This project is a continuation of monitoring begun by Balance Hydrologics as part of the permit requirements for land development. The purpose of this annual report is to present data summaries for the 2007 water year (October 1, 2006 to September 31, 2007). Rainfall in water year 2007 was very low, representing the 15 year drought rainfall. Streamflow was relatively low as well as indicated by baseflow conditions approaching the drought conditions of water-year 1991 (Croyle and Smith, 2007). Document contains 30 pages)

2007 Annual Report: Hydrologic Conditions in Baseflow Reaches Pursuant to Conditions 14 and 15, Santa Lucia Preserve, Monterey County, California

This report presents the results of the 2007 baseflow condition surveys of the four major streams flowing through Santa Lucia Preserve- Las Garzas, Portrero, San Jose, and San Clemente Creeks. This report has been prepared for the Santa Lucia Conservancy and is primarily intended for the staff of Monterey County and California Department of Fish and Game, in accordance with the baseflow monitoring and reporting requirements outlined in County Conditions 14 and 15. The scope of this report is limited to the presentation and evaluation of existing baseflow conditions as required by Conditions 14 and 15, and is not intended as a comprehensive analysis. However, data presented here are an important part of the long term data set that will be used for future in depth watershed analyses. (Document contains 13 pages & 14 figs)

Comments on the Friends of the Sea Otter critique of the State of California sea otter proposal

Written in response to "A proposal for sea otter protection and research and request for the return of management to the State of California" report published by the California Department of Fish and Game in 1976. (52 page document)

A proposal for sea otter protection and research and request for the return of management to the State of California

v.1 - Text and Summaries (272 page document)

Air Flow Land-Sea-Air Interface: Monterey Bay, California - 1971. Annual Report, Part 1, July 1972

Air flow at the land-sea-air interface influences to a large extent the atmospheric conditions that determine the transport, di lution, and trapping of natural and man-made air pollutants in the coastal areas of Monterey Bay and the Salinas Valley. Analysis of the hourly air flow on a daily and monthly basis indicates patterns of stagnation from midnight to noon of the fol lowing day with moderate to strong air flow during period 1300 to 2200. Throughout the year 1971 whenever flow is greater than 5 mph, the prevailing wind direction is onshore and from a westerly direction. Suggestions for urbanization and industrialization are made on the basis of an understanding of the atmospheric conditions which lead to trapping and dispersal of atmospheric waste. (27 page document)

A short survey of the environment at the dumping site for Santa Cruz Harbor dredging and A study of seaward dipping internal structures in marine ripple marks at Whaler's Cove, California. Annual report, Part 4, August 1972

(PDF contains 76 pages)

Sand Transport Studies in Monterey Bay, California: Annual Report, Part 5, 1973

(PDF contains 71 pages)