Spatio-temporal analysis of house price convergence based on a demographical distance

Convergences of house prices have been studied for over three decades, but yet have been confirmed because of spatial heterogeneity and autocorrelations in house prices. A spatio-temporal approach was recently proposed to address the spatial and temporal issues related to house prices. However, most previous studies placed the focus on the spatial heterogeneity and autocorrelations from geographical locations, which neglected other spatial factors. In order to overcome this shortfall, this research argued a demographical distance, constructed by demographical structure and housing market scales, to investigate the house price convergences in Australian capital cities. The results confirmed the house price levels in Canberra, Brisbane and Perth converged to the house price level in Sydney.

Stores healthy options project in remote indigenous communities (SHOP@RIC): a protocol of a randomised trial promoting healthy food and beverage purchases through price discounts and in-store nutrition education

Background
Indigenous Australians suffer a disproportionate burden of preventable chronic disease compared to their non-Indigenous counterparts – much of it diet-related. Increasing fruit and vegetable intakes and reducing sugar-sweetened soft-drink consumption can reduce the risk of preventable chronic disease. There is evidence from some general population studies that subsidising healthier foods can modify dietary behaviour. There is little such evidence relating specifically to socio-economically disadvantaged populations, even though dietary behaviour in such populations is arguably more likely to be susceptible to such interventions.

This study aims to assess the impact and cost-effectiveness of a price discount intervention with or without an in-store nutrition education intervention on purchases of fruit, vegetables, water and diet soft-drinks among remote Indigenous communities.

Methods/Design
We will utilise a randomised multiple baseline (stepped wedge) design involving 20 communities in remote Indigenous Australia. The study will be conducted in partnership with two store associations and twenty Indigenous store boards. Communities will be randomised to either i) a 20% price discount on fruit, vegetables, water and diet soft-drinks; or ii) a combined price discount and in-store nutrition education strategy. These interventions will be initiated, at one of five possible time-points, spaced two-months apart. Weekly point-of-sale data will be collected from each community store before, during, and for six months after the six-month intervention period to measure impact on purchasing of discounted food and drinks. Data on physical, social and economic factors influencing weekly store sales will be collected in order to identify important covariates. Intervention fidelity and mediators of behaviour change will also be assessed.

Discussion
This study will provide original evidence on the effectiveness and cost-effectiveness of price discounts with or without an in-store nutrition education intervention on food and drink purchasing among a socio-economically disadvantaged population in a real-life setting.

Oil price uncertainty and sovereign risk: evidence from Asian economies

In this paper, we test whether oil price uncertainty predicts credit default swap (CDS) returns for eight Asian countries. We use the Westerlund and Narayan, 2011 and Westerlund and Narayan, 2012 predictability test that accounts for any persistence in and endogeneity of the predictor variable. The estimator also accounts for any heteroskedasticity in the regression model. In-sample evidence reveals that oil price uncertainty predicts CDS returns for three Asian countries, whereas out-of-sample evidence suggests that oil price uncertainty predicts CDS returns for six countries.

Alcohol Price Considerations on alcohol and Illicit Drug Use in University Students

Background
This study investigates alcohol price and proposed substance use amongst Australian tertiary students.

Methods
Participants were recruited in 2009 via facebook, and were asked to complete a 34-item internetbased survey. 512 people took part, 485 fit the inclusion criteria.

Results
The sample consisted predominately of young (mean age 20.3 years), female (66%) university students. Higher alcohol prices resulted in increased consideration of illicit substances as an alternative indicating a substitution effect, although the majority (60%) of respondents would never consider using ecstasy.

Conclusion
Results indicate substantial room to increase the price of alcohol to achieve alcohol consumption reduction without likely substitution behavior.

Systematic review of lifestyle interventions to limit postpartum weight retention: implications for future opportunities to prevent maternal overweight and obesity following childbirth

Postpartum weight retention can predict future weight gain and long-term obesity. Moreover, failure to lose weight gained during pregnancy can lead to increased body mass index for subsequent pregnancies, increasing the risk of adverse maternal and foetal pregnancy outcomes. This systematic review evaluates the effectiveness of lifestyle interventions aimed at reducing postpartum weight retention. Seven electronic databases were searched for intervention studies and trials enrolling women with singleton pregnancies and published in English from January 1990 to October 2012. Studies were included when postpartum weight was a main outcome and when diet and/or exercise and/or weight monitoring were intervention components. No limitations were placed on age, body mass index or parity. Eleven studies were identified as eligible for inclusion in this review, of which 10 were randomized controlled trials. Seven studies were successful in decreasing postpartum weight retention, six of which included both dietary and physical activity components, incorporated via a range of methods and delivered by a variety of health practitioners. Few studies utilized modern technologies as alternatives to traditional face-to-face support and cost-effectiveness was not assessed in any of the studies. These results suggest that postpartum weight loss is achievable, which may form an important component of obesity prevention in mothers; however, the optimal setting, delivery, intervention length and recruitment approach remains unclear.

Quantitatively evaluating the effects of price promotions using data mining

Price promotions (also called discount promotions), i.e. short-term temporary price reductions for selected items (Hermann 1989), are frequently used in sales promotions. The main objective of price promotions is to boost sales and increase profits. Quantitative evaluation of the effects of price promotions (QEEPP) is essential and important for sales managers to analyse historical price promotions and informative for devising more effective promotional strategies in the future. However, most previous studies only provide insights into the effects of discount promotions from some specific prospectives, and no approaches have been proposed for comprehensive evaluation of the effects of discount promotions. For example, Hinkle [1965] discovered that price promotions in the off-season are more favourable, and the effects of price promotions are stronger for new products. Peckham [1973] found that price promotions have no impact on long-term trend. Blattberg et al. [1978] identified that different segments respond to price promotions in different ways. Rockney [1991] discovered three basic types of effects: effects on discounted items, effects on substitutes and effects on complementary items.

Rating downgrade and the price impact of CDS spread on stock return

We investigate the time-varying informativeness of credit default swap (CDS) trading on stock returns for 302 US firms from July 2004 to August 2010. Using the Acharya and Johnson (2007) measure, we find that CDS trading becomes informative for an increasing number of firms as we approach the global financial crisis (GFC). Firm numbers gradually decline post-GFC, but remain high compared to the pre-GFC period. furthermore, CDS trading imposes the largest conditional price impact on firms that are recently downgraded, regardless of rating levels. Interestingly, this holds during and after the GFC, but not before. We offer two implications. First, despite post-GFC outcry against the CDS market, our results suggest it exhibits enhanced price discovery during the GFC. Second, our findings support criticism that, in the lead-up to the GFC, rating agencies are slow in downgrading firms. However, if downgrade decisions made during and after the GFC induce informed trading in the CDS market, this necessarily implies that during the midst of the GFC, rating agencies have got their act together.