Long memory in return structures from developed markets

[En]The present study aimed at investigating the existence of long memory properties in ten developed stock markets across the globe. When return series exhibit long memory, the series realizations are not independent over time and past returns can help predict future returns, thus violating the market efficiency hypothesis. It poses a serious challenge to the supporters of random walk behavior of the stock returns indicating a potentially predictable component in the series dynamics. We computed Hurst-Mandelbrot’s Classical R/S statistic, Lo’s statistic and semi parametric GPH statistic using spectral regression. The findings suggest existence of long memory in volatility and random walk for logarithmic return series in general for all the selected stock market indices. Findings are in line with the stylized facts of financial time series.

"Empty bed blues": Terry McMillan's Waiting to Exhale (1992), novel into film

Santamaría, José Miguel; Pajares, Eterio; Olsen, Vickie; Merino, Raquel; Eguíluz, Federico (eds.)

The chaetognatha of the Eastropic Expedition, with notes as to their possible value as indicators of hydrographic conditions

ENGLISH: The purpose of this study was to investigate the possibility that certain species of Chaetognatha found in Eastern Tropical Pacific waters can serve as biological indicators of oceanographic features. "Indicator" organisms have been found useful in identifying water types, in tracing the pattern of current systems, and in tracing the origin of moving water masses. To be of use in this type of study, the organisms must be sufficiently abundant to be readily sampled, and easily identified to species; they must also, at least partially, fulfill the additional requisites listed and discussed by Sverdrup, Johnson, and Fleming (1942, pp. 866-867). Among several groups of organisms fulfilling these requirements are the Chaetognatha. Specimens of this group of animals occurred in large numbers in the plankton samples used for this study. The works of Thomson (1947), Fraser (1942), Ritter-Zahony (1911), and Sund (1959) were used for identification. SPANISH: El objetivo de este estudio ha sido el de investigar la posibilidad de utilizar ciertas especies de quetognatos encontrados en el Pacífico Oriental Tropical como indicadoras biológicas de características oceanográficas. Organismos "indicadores" fueron encontrados útiles para la identificación de tipos de agua, el trazado del régimen de los sistemas de corrientes y la determinación del origen de masas de agua en movimiento. Para servir a este tipo de estudios, los organismos deben ser lo suficientemente abundantes como para ser fácilmente muestreados e identificados hasta la especie; también deben satisfacer, por lo menos parcialmente, los requerimientos indicados y discutidos par Sverdrup, Johnson y Fleming (1942, pags. 866-867).

Early postnatal growth of the spotted dolphin, Stenella attenuata, in the offshore Eastern Tropical Pacific.

Estimates of length at birth and early postnatal growth are made for the northern and southern populations of the offshore spotted dolphin in the offshore eastern tropical Pacific. Length at birth is estimated to be 85.4 cm for the northern population and 83.2 cm for the southern population. Analyses of series of monthly distributions of length revealed two cohorts born each year in the northern population, at least in the northern inshore part of its geographic range, but only one cohort born each year in the southern population. Growth curves fitted to the means of the monthly distributions of length gave estimates of length at 1 year of 126.2 and 132.6 cm and length at 2 years of 154.3 and 154.9 cm for the two cohorts in the northern population. and length at 1 year of 127.9 cm for the southern population. A growth curve fitted to lengths and ages (in dental growth layer groups) from the northern population gave estimates of lengths at 1 and 2 years of 123.0 and 143.0 cm, respectively.

Characteristics and causes of Texas marine strandings

Three major mass mortality events occurred on the upper Texas coast during 1994, from January through the second week of May. These events were distinguished by unusually large numbers of dead dolphins, sea turtles, and fishes washing ashore on Texas beaches. The beach stranding of dead animals began in January with bottlenose dolphins. By the end of March, 142 dolphins had washed ashore as compared to about 40 expected. By the latter part of April, dolphin mortalities declined but stranding of dead and comatose sea turtles increased. By the end of April, at least 127 sea turtles had stranded on the Texas coast since the beginning of the year, about double the expected number. Then, during May and June, a third mortality event began with a massive fish kill and more turtle deaths. By the middle of May, mortalities of all species as indicated by beach strandings returned to within expected levels. Nevertheless, 1994 stood out as a record year of marine mass mortalities in the northwestern Gulf of Mexico. (PDF file contains 94 pages.)

Tratado de limites das conquistas entre os muito altos, e poderosos senhores D. João V, Rey de Portugal, e D. Fernando VI, Rey de Espanha, pelo qual abolida a demarcação da linha meridiana, ajustada no Tratado de Tordesilhas de 7 de junho de 1494, se determina individualmente a raya dos domínios de huma e outra corôa na America Meridional :a de Portugal renuncia o direito, que allegava ter das Ilhas Filippinas, pelo dito Tratado de Tordesilhas, e pela escritura de Saragoça de 22 de abril de 1529 ; e cede a Espanha a Colonia do Sacramento, e o Territorio da margem septentrional do Rio da Prata, que lhe pertencia pelo Tratado de Utrecht de 6 de fevereiro de 1715, como também a Aldea de S. Christóvão, e terras adjacentes, que tinhão occupado os portuguezes entre os rios Japurá, e Isa, que desaguão no das Amazonas; a de Espanha renuncia todo o direito, que pelo dito Tratado de Tordesilhas allegava ter as terras possuidas pelos portuguezes na America Meridional ao Occidente da Linha Meridiana, ajustada naquelle Tratado ; e cede a Portugal todas as terras, e povoações da margem oriental do rio Uruguay, desde o rio Ibicuí para o norte, e a aldea de Santa Rosa, e outra qualquer estabelecida pelos espanhoes na margem oriental do rio Guaporé; com os plenos-poderes, e ratificações dos dous Monarchas, assignado em Madrid a 13 de janeiro de 1750

Referência: Diccionario Bibliographico Portuguez / Innocencio Francisco da Silva, 1862. v. 7, p. 386.

Diário da Constituinte [gravação de vídeo] : [programa n. 546]

Enquanto não se decide a votação do capítulo da Reforma Agrária, já começam a se movimentar na Constituinte os grupos de pressão para o próximo Título a ser votado: o da Ordem Social. Exposição em defesa do Sistema Único de Saúde está na rampa de acesso ao Plenário. Um vídeo apresenta depoimentos dos defensores do Sistema Único. Também chegaram à Constituintes 143.000 assinaturas populares, recolhidas no Rio de Janeiro, em defesa da Escola Gratuita. Constituintes, diante do abaixo assinado, ressaltam a importância de destinar recursos públicos para a escola pública, além das escolas comunitárias, confessionais e as filantrópicas, sem fins lucrativos. A Reforma Agrária também tem seu lobby. Ele está montado no corredor de acesso ao Plenário. São painéis mostrando a história das lutas no campo. Líderes partidários e os representantes do Centrão,se reúnem no Gabinete do Senador Mário Covas para discutir a Reforma Agrária. O impasse permanece quanto à definição da terra produtiva e quanto à necessidade de cumprir ou não a função social.

A colorectal cancer genome-wide association study in a Spanish cohort identifies two variants associated with colorectal cancer risk at 1p33 and 8p12

Background: Colorectal cancer (CRC) is a disease of complex aetiology, with much of the expected inherited risk being due to several common low risk variants. Genome-Wide Association Studies (GWAS) have identified 20 CRC risk variants. Nevertheless, these have only been able to explain part of the missing heritability. Moreover, these signals have only been inspected in populations of Northern European origin. Results: Thus, we followed the same approach in a Spanish cohort of 881 cases and 667 controls. Sixty-four variants at 24 loci were found to be associated with CRC at p-values <10-5. We therefore evaluated the 24 loci in another Spanish replication cohort (1481 cases and 1850 controls). Two of these SNPs, rs12080929 at 1p33 (P-replication=0.042; P-pooled=5.523x10(-03); OR (CI95%)=0.866(0.782-0.959)) and rs11987193 at 8p12 (P-replication=0.039; P-pooled=6.985x10(-5); OR (CI95%)=0.786(0.705-0.878)) were replicated in the second Phase, although they did not reach genome-wide statistical significance. Conclusions: We have performed the first CRC GWAS in a Southern European population and by these means we were able to identify two new susceptibility variants at 1p33 and 8p12 loci. These two SNPs are located near the SLC5A9 and DUSP4 loci, respectively, which could be good functional candidates for the association signals. We therefore believe that these two markers constitute good candidates for CRC susceptibility loci and should be further evaluated in other larger datasets. Moreover, we highlight that were these two SNPs true susceptibility variants, they would constitute a decrease in the CRC missing heritability fraction.

Finanzas para una economía humana sostenible: hacia la banca ética

El presente trabajo analiza el papel que deben jugar las finanzas en un mundo globalizado que vive una profunda crisis multidimensional, económica, financiera, energética, alimentaria, medioambiental, etc. que se manifiesta en graves problemas de pobreza, desigualdad, violación de derechos humanos, exclusión y deterioro ecológico. Esas nuevas finanzas deben constituirse en la herramienta básica de una nueva economía que tenga como objetivo el Desarrollo Humano Sostenible (DHS), que constituye el gran reto al que se enfrenta la humanidad en los próximos años. Todas las personas y las organizaciones tenemos la Responsabilidad Social de hacer frente a ese reto. El sector financiero por su poder e influencia tiene la gran responsabilidad social (RSE) de tener en cuenta, además de su rentabilidad económica, el impacto social y medioambiental de su actividad tanto en el diseño de productos de pasivo, en las estrategias de captación del ahorro y en las políticas de crédito e inversión, recuperando de esta manera el valor social del dinero. La Inversión Socialmente Responsable (ISR) al añadir criterios sociales y medioambientales a los tradicionales criterios financieros permite a las personas o entidades inversoras combinar objetivos financieros con valores sociales. La máxima expresión de la ISR lo constituye la Banca Ética ya que todo su negocio lo gestiona con criterios sociales y medioambientales además de los de rentabilidad económica y bajo una transparencia total. Dentro de la Banca Ética destaca el proyecto Fiare, único nacido en el Estado, que se desarrolla como cooperativa de crédito de ámbito europeo, sin ánimo de lucro, con escala salarial de 1 a 3 y sustentada en redes territoriales de organizaciones sociales que trabajan en el ámbito de la transformación de las estructuras generadoras de injusticia.

Technologies and Methodologies for the Detection of Harmful Algae and Their Toxins, St Petersburg, Florida, Oct 22-24 2008 : workshop proceedings

The Alliance for Coastal Technologies (ACT) Workshop "Technologies and Methodologies for the Detection of Harmful Algae and their Toxins" convened in St. Petersburg, Florida, October 22- 24, 2008 and was co-sponsored by ACT (http://act-us.info); the Cooperative Institute for Coastal and Estuarine Environmental Technology (CICEET, http://ciceet.unh.edu); and the Florida Fish and Wildlife Conservation Commission (FWC, http://www.myfwc.com). Participants from various sectors, including researchers, coastal decision makers, and technology vendors, collaborated to exchange information and build consensus. They focused on the status of currently available detection technologies and methodologies for harmful algae (HA) and their toxins, provided direction for developing operational use of existing technology, and addressed requirements for future technology developments in this area. Harmful algal blooms (HABs) in marine and freshwater systems are increasingly common worldwide and are known to cause extensive ecological, economic, and human health problems. In US waters, HABs are encountered in a growing number of locations and are also increasing in duration and severity. This expansion in HABs has led to elevated incidences of poisonous seafood, toxin-contaminated drinking water, mortality of fish and other animals dependent upon aquatic resources (including protected species), public health and economic impacts in coastal and lakeside communities, losses to aquaculture enterprises, and long-term aquatic ecosystem changes. This meeting represented the fourth ACT sponsored workshop that has addressed technology developments for improved monitoring of water-born pathogens and HA species in some form. A primary motivation was to assess the need and community support for an ACT-led Performance Demonstration of Harmful Algae Detection Technologies and Methodologies in order to facilitate their integration into regional ocean observing systems operations. The workshop focused on the identification of region-specific monitoring needs and available technologies and methodologies for detection/quantification of harmful algal species and their toxins along the US marine and freshwater coasts. To address this critical environmental issue, several technologies and methodologies have been, or are being, developed to detect and quantify various harmful algae and their associated toxins in coastal marine and freshwater environments. There are many challenges to nationwide adoption of HAB detection as part of a core monitoring infrastructure: the geographic uniqueness of primary algal species of concern around the country, the variety of HAB impacts, and the need for a clear vision of the operational requirements for monitoring the various species. Nonetheless, it was a consensus of the workshop participants that ACT should support the development of HA detection technology performance demonstrations but that these would need to be tuned regionally to algal species and toxins of concern in order to promote the adoption of state of the art technologies into HAR monitoring networks. [PDF contains 36 pages]

On the impact of independence of irrelevant alternatives: the case of two-person NTU games

On several classes of n-person NTU games that have at least one Shapley NTU value, Aumann characterized this solution by six axioms: Non-emptiness, efficiency, unanimity, scale covariance, conditional additivity, and independence of irrelevant alternatives (IIA). Each of the first five axioms is logically independent of the remaining axioms, and the logical independence of IIA is an open problem. We show that for n = 2 the first five axioms already characterize the Shapley NTU value, provided that the class of games is not further restricted. Moreover, we present an example of a solution that satisfies the first five axioms and violates IIA for two-person NTU games (N, V) with uniformly p-smooth V(N).

Die nordostarktische Fischerei im Jahre 2003

Seasampling of the important northeast Arctic fish stocks cod, saithe, haddock, redfish and Greenland halibut was continued in 2003. The sampling is part of the European data sampling directive on commercial fisheries established in recent years. This directive is relevant for European waters as well as for other areas where quotas have been assigned for European community member states. Furthermore, the results of these samplings are used as German basic data for stock assessments of the “Arctic Fisheries Working Group” of the International Council for the Exploration of the Seas (ICES). This report presents results of biological investigations which were carried out in ICES divisions IIa and IIb on board FMS “KIEL” in January/February and July/August 2003. The last section summarizes results and recommendations on the scientific assessment of the northeast Arctic fish stocks.

Towed vehicles: undulating platforms as tools for maping coastal processes and water quality assessment, Seaside, California, February 5-7,2007. Workshop proceedings

The Alliance for Coastal Technologies (ACT) Workshop on Towed Vehicles: Undulating Platforms As Tools for Mapping Coastal Processes and Water Quality Assessment was convened February 5-7,2007 at The Embassy Suites Hotel, Seaside, California and sponsored by the ACT-Pacific Coast partnership at the Moss Landing Marine Laboratories (MLML). The TUV workshop was co-chaired by Richard Burt (Chelsea Technology Group) and Stewart Lamerdin (MLML Marine Operations). Invited participants were selected to provide a uniform representation of the academic researchers, private sector product developers, and existing and potential data product users from the resource management community to enable development of broad consensus opinions on the application of TUV platforms in coastal resource assessment and management. The workshop was organized to address recognized limitations of point-based monitoring programs, which, while providing valuable data, are incapable of describing the spatial heterogeneity and the extent of features distributed in the bulk solution. This is particularly true as surveys approach the coastal zone where tidal and estuarine influences result in spatially and temporally heterogeneous water masses and entrained biological components. Aerial or satellite based remote sensing can provide an assessment of the aerial extent of plumes and blooms, yet provide no information regarding the third dimension of these features. Towed vehicles offer a cost-effective solution to this problem by providing platforms, which can sample in the horizontal, vertical, and time-based domains. Towed undulating vehicles (henceforth TUVs) represent useful platforms for event-response characterization. This workshop reviewed the current status of towed vehicle technology focusing on limitations of depth, data telemetry, instrument power demands, and ship requirements in an attempt to identify means to incorporate such technology more routinely in monitoring and event-response programs. Specifically, the participants were charged to address the following: (1) Summarize the state of the art in TUV technologies; (2) Identify how TUV platforms are used and how they can assist coastal managers in fulfilling their regulatory and management responsibilities; (3) Identify barriers and challenges to the application of TUV technologies in management and research activities, and (4) Recommend a series of community actions to overcome identified barriers and challenges. A series of plenary presentation were provided to enhance subsequent breakout discussions by the participants. Dave Nelson (University of Rhode Island) provided extensive summaries and real-world assessment of the operational features of a variety of TUV platforms available in the UNOLs scientific fleet. Dr. Burke Hales (Oregon State University) described the modification of TUV to provide a novel sampling platform for high resolution mapping of chemical distributions in near real time. Dr. Sonia Batten (Sir Alister Hardy Foundation for Ocean Sciences) provided an overview on the deployment of specialized towed vehicles equipped with rugged continuous plankton recorders on ships of opportunity to obtain long-term, basin wide surveys of zooplankton community structure, enhancing our understanding of trends in secondary production in the upper ocean. [PDF contains 32 pages]

Starker Nachwuchsjahrgang 2002 des Herings der westlichen Ostsee

Several fishery independent estimates of the year-class strength are necessary for the assessment and the management of the total fish stock. An index for the year-class strength of the spring spawning herring in the western Baltic Sea is estimated on the basis of larvae surveys in the most important spawning ground. The results indicate a strong year-class 2002.