The role of rice in poverty dynamics in rural Vietnam: 2002–2008

Using the Vietnamese Household Living Standards Surveys of 2002, 2004, 2006, and 2008, this paper investigates the role of rice in poverty dynamics in the recent context of Vietnam. We find that sizeable changes in rice prices in the 2000s, which were driven largely by the country's integration into the world markets, have not helped rural households escape poverty, even for households with large-scale rice production. Our results also document that changes in rice output and productivity did not help mitigate poverty either. The paper provides evidence to explain why a substantial exogenous increase in the rice prices between 2006 and 2008 did not help rural households to move out of poverty, while similar changes did help in the 1990s.

Farmland prices, structural breaks and panel data

Previous time series evidence has indicated that farmland prices and cash rents are not cointegrated, a finding at odds with the present value model of farmland prices. We argue that this failure to find cointegration may be due to low power of tests and to the presence of structural change representing a shifting risk premium on farmland investments. To accommodate this possibility, we use panel unit root and cointegration methods that are more powerful than conventional time series methods and allow for breaks in the cointegration relationship. Our results, based on a large panel covering 31 US states between 1960 and 2000, suggest that the present value model of farmland prices cannot be rejected. © Oxford University Press and Foundation for the European Review of Agricultural Economics 2007; all rights reserved.

Eating locally: Australasian gannets increase their foraging effort in a restricted range

During the breeding season, seabirds adopt a central place foraging strategy and are restricted in their foraging range by the fasting ability of their partner/chick and the cost of commuting between the prey resources and the nest. Because of the spatial and temporal variability of marine ecosystems, individuals must adapt their behaviour to increase foraging success within these constraints. The at-sea movements, foraging behaviour and effort of the Australasian gannet (Morus serrator) was determined over three sequential breeding seasons of apparent differing prey abundance to investigate how the species adapts to inter-annual fluctuations in food availability. GPS and tri-axial accelerometer data loggers were used to compare the degree of annual variation within two stages of breeding (incubation and chick rearing) at a small gannet colony situated between two larger, nearby colonies. Interestingly, neither males nor females increased the total distance travelled or duration of foraging trip in any breeding stage (P>0.05 in all cases) despite apparent low prey availability. However, consistently within each breeding stage, mean vectorial dynamic body acceleration (an index of energy expenditure) was greater in years of poorer breeding success (increased by a factor of three to eight), suggesting birds were working harder within their range. Additionally, both males and females increased the proportion of a foraging trip spent foraging in a poorer year across both breeding stages. Individuals from this colony may be limited in their ability to extend their range in years of low prey availability due to competition from conspecifics in nearby colonies and, consequently, increase foraging effort within this restricted foraging area.

Perks and the informativeness of stock prices in the Chinese market

While the literature shows that perks can affect firm values positively or negatively, we argue that firms with higher perks are more likely to be associated with a lower quality of financial reporting, which, in turn, can affect the informativeness of stock prices. Based on hand-collected data on perks from Chinese listed firms, we find that firms with lower perks are associated with higher informativeness of stock prices (or lower R-square). Moreover, the positive association between perks and R-square is shown to be weaker for firms with higher financial reporting quality through audit and earnings quality measures.

Does board gender diversity improve the informativeness of stock prices?

We show that stock prices of firms with gender-diverse boards reflect more firm-specific information after controlling for corporate governance, earnings quality, institutional ownership and acquisition activity. Further, we show that the relationship is stronger for firms with weak corporate governance suggesting that gender-diverse boards could act as a substitute mechanism for corporate governance that would be otherwise weak. The results are robust to alternative specifications of informativeness and gender diversity and to sensitivity tests controlling for time-invariant firm characteristics and alternative measures of stock price informativeness. We also find that gender diversity improves stock price informativeness through the mechanism of increased public disclosure in large firms and by encouraging private information collection in small firms. © 2011 Elsevier B.V.

Counting the cost: the impact of cinema ticket prices in Australia

The authors discuss the change in cinema ticket price and its effect on audience perception on cinema attendance in Australia. Topics discussed include the comparison of ticket prices in Australia to countries such as the U.S., Japan, and New Zealand, the reason of high ticket prices in Australia such as high wages in theatre operation and piracy, and the drop of cinema admission as result of high ticket prices. They mention the social equity issues raised by the high cost of cinema tickets.

Smartphone apps to improve fitness and increase physical activity among young people: protocol of the Apps for IMproving FITness (AIMFIT) randomized controlled trial

BACKGROUND: Physical activity is a modifiable behavior related to many preventable non-communicable diseases. There is an age-related decline in physical activity levels in young people, which tracks into adulthood. Common interactive technologies such as smartphones, particularly employing immersive features, may enhance the appeal and delivery of interventions to increase levels of physical activity in young people. The primary aim of the Apps for IMproving FITness (AIMFIT) trial is to evaluate the effectiveness of two popular "off-the-shelf" smartphone apps for improving cardiorespiratory fitness in young people.

METHODS/DESIGN: A three-arm, parallel, randomized controlled trial will be conducted in Auckland, New Zealand. Fifty-one eligible young people aged 14-17 years will be randomized to one of three conditions: 1) use of an immersive smartphone app, 2) use of a non-immersive app, or 3) usual behavior (control). Both smartphone apps consist of an eight-week training program designed to improve fitness and ability to run 5 km, however, the immersive app features a game-themed design and adds a narrative. Data are collected at baseline and 8 weeks. The primary outcome is cardiorespiratory fitness, assessed as time to complete the one mile run/walk test at 8 weeks. Secondary outcomes are physical activity levels, self-efficacy, enjoyment, psychological need satisfaction, and acceptability and usability of the apps. Analysis using intention to treat principles will be performed using regression models.

DISCUSSION: Despite the proliferation of commercially available smartphone applications, there is a dearth of empirical evidence to support their effectiveness on the targeted health behavior. This pragmatic study will determine the effectiveness of two popular "off-the-shelf" apps as a stand-alone instrument for improving fitness and physical activity among young people. Adherence to app use will not be closely controlled; however, random allocation of participants, a heterogeneous group, and data analysis using intention to treat principles provide internal and external validity to the study. The primary outcome will be objectively assessed with a valid and reliable field-based test, as well as the secondary outcome of physical activity, via accelerometry. If effective, such applications could be used alongside existing interventions to promote fitness and physical activity in this population. TRIAL REGISTRATION: Australian New Zealand Clinical Trials Registry: ACTRN12613001030763. Registered 16 September 2013.

Asymmetric oil shocks and external balances of major oil exporting and importing countries

This study investigates the effects of oil price shocks on three measures of oil exporters' and oil importers' external balances: total trade balance, oil trade balance and non-oil trade balance. We employ three second-generation heterogeneous linear panel models and one recently developed non-linear panel estimation technique that allows for cross-sectional dependence. With respect to 28 major oil exporting countries, an increase in oil prices leads to an improved real oil trade balance, although it is detrimental to non-oil and total trade balances. This finding might be due to the expenditure effect arising from increases in proceeds from oil exports. A decrease in oil prices is found to be beneficial for both total and oil trade balances in these oil exporting countries. Forty major oil importers seem to be increasingly shielded from positive oil shocks over the 1970s and 1980s; however, they must worry about oil price declines. A decline in oil prices has a negative impact on both total and real oil trade balances resulting from increased oil imports in emerging economies. Hence, a decline in oil prices is beneficial to oil exporters due to the quantity effect outweighing the price effect, while for oil importers a stable oil price is more desirable than a price decline. These results are important to take into account if we are to gain a full understanding on the magnitude of the trade and macroeconomic effects of oil price changes and what the policy responses should be.

Stock market liquidity and firm value : an empirical examination of the Australian market

We document a positive relation between stock liquidity and firm value. We examine the mechanism through which stock market liquidity enhances firm value by dividing firm value, as measured by Tobin’s Q, into three components, namely, operating income to price, leverage, and operating income to assets. Using the switch to broker anonymity as an exogenous shock to market liquidity, we show that the increase in liquidity around the shock leads to an increase in firm value. Our results suggest that higher firm value for more liquid stocks seems to stem from enhanced stock prices rather than from better operating performance.

Using Technology to Increase Collaboration Between the Library, Teaching Faculty, and the Campus at Large

This article outlines many different ways of using technology to better link academic librarians and faculty, focusing particularly on how the appropriate use of technology in Acquisitions can improve the image of the library. The article presents a comprehensive overview of how technologies can be used to make Acquisitions not just a book purchasing department, but a department that works proactively to impress consituents, helping to make the library a central and prestigious part of the campus community. While the article's primary focus is on academic libraries, much of the discussion is also applicable to other types of libraries.

Strategies to Increase Course Completion Rates in Lower-Level, High-Enrollment Classes

With an increase in performance-based funding based on credit hours, retention, and graduation rates, administrators seek strategies to increase course completion rates in low-level, high-enrollment courses. This report examines pedagogical strategies implemented within the classroom to increase course completion rates in gateway courses. It also examines how administrators identify qualities that indicate experience and motivation to improve students’ success when hiring new faculty.

An overview of some historical brazilian macroeconomic series and some open questions

This paper presents an overview of the Brazilian macroeconomy by analyzing the evolution of some specific time series. The presentation is made through a sequence of graphs. Several remarkable historical points and open questions come up in the data. These include, among others, the drop in output growth as of 1980, the clear shift from investments to government current expenditures which started in the beginning of the 80s, the notable way how money, prices and exchange rate correlate in an environment of permanently high inflation, the historical coexistence of high rates of growth and high rates of inflation, as well as the drastic increase of the velocity of circulation of money between the 70s and the mid-90s. It is also shown that, although net external liabilities have increased substantially in current dollars after the Real Plan, its ratio with respect to exports in 2004 is practically the same as the one existing in 1986; and that residents in Brazil, in average, owed two more months of their final income (GNP) to abroad between 1995-2004 than they did between 1990 and 1994. Variance decompositions show that money has been important to explain prices, but not output (GDP).

On equilibrium prices in continuous time

We combine general equilibrium theory and théorie générale of stochastic processes to derive structural results about equilibrium state prices.

Uncertainty aversion and the optmal choice of portfolio

In this paper we apply the theory of declsion making with expected utility and non-additive priors to the choice of optimal portfolio. This theory describes the behavior of a rational agent who i5 averse to pure 'uncertainty' (as well as, possibly, to 'risk'). We study the agent's optimal allocation of wealth between a safe and an uncertain asset. We show that there is a range of prices at which the agent neither buys not sells short the uncertain asset. In contrast the standard theory of expected utility predicts that there is exactly one such price. We also provide a definition of an increase in uncertainty aversion and show that it causes the range of prices to increase.