Price dynamics, foreign exchange and anticipated shocks in a tourism economy

Using a dynamic model of an open monetary economy, this paper examines the effects of tourism-related anticipated shocks on goods prices and foreign exchange reserves. Foreign tourists consume mainly non-traded goods in holiday destinations, converting them into exportable goods. This gives rise to a tourism terms-of-trade effect that affects the accumulation of foreign exchange. Announcements of anticipated events bring tourist visits forward, resulting in an initial under-adjustment or an over-adjustment in the prices of the non-traded goods when the tourism terms-of-trade effect is positive or negative. This leads to an increase or a decrease in foreign reserves in the long run.

There'll be a price to pay for terror listing the Haqqani Network

THE Obama administration's decision to officially designate the Haqqani Network a terrorist organisation and place it on the State Department's list of Foreign Terrorist Organisations would have been very difficult to make because of its far-reaching implications for US-Pakistan relations.

Nanotechnology based platforms for survivin targeted drug discovery

Introduction: Development of an effective, safe and targeted drug delivery system to fight cancer and other diseases is a prime focus in the area of drug discovery. The emerging field of nanotechnology has revolutionised the way cancer therapy and diagnosis is achieved primarily due to the recent advances in material engineering and drug availability. Further, the recognition of the crucial role played by anti-apoptotic proteins such as survivin, has initiated the development of therapeutics that can target this protein as an attempt to develop alternative cancer therapies. However, a key challenge faced in drug development is the efficient delivery of survivin-targeted molecules to specific areas in the body.Areas covered: This review primarily focuses on the different strategies employing nanotechnology for targeting survivin expressed in human cancers. Different nanomaterials incorporating nucleic molecules or drugs targeted at survivin are discussed and the results obtained from studies are highlighted.Expert opinion: There are extensive studies reporting different treatment regimens for cancer, however, they still result in systemic toxicity, reduced bioavailability and ineffective delivery. Novel approaches involve the use of biocompatible nanomaterials together with gene or drug molecules to target proteins such as survivin, which is overexpressed in cancerous cells. These nanoformulations allow the benefits of protecting easily degradable molecules, allow controlled release, and enhance targeted delivery and effectiveness. Hence, nanotherapy utilizing survivin targeting can be considered to play a key role in the development of personalized nanomedicine for cancer.

Weighing price of justice

Newspaper article examining the implications of the increasing price of justice at a state and federal level in Australia and the United States. Focuses largely on research examining the Queensland and Alabama prosecutions of Gabe Watson for hte death of his wife, Tina Thomas, on their honeymoon in October 2003.

Reliable knowledge discovery with a minimal causal model inducer

This paper presents a Minimal Causal Model Inducer that can be used for the reliable knowledge discovery. The minimal-model semantics of causal discovery is an essential concept for the identification of a best fitting model in the sense of satisfactory consistent with the given data and be the simpler, less expressive model. Consistency is one of major measures of reliability in knowledge discovery. Therefore to develop an algorithm being able to derive a minimal model is an interesting topic in the are of reliable knowledge discovery. various causal induction algorithms and tools developed so far can not guarantee that the derived model is minimal and consistent. It was proved the MML induction approach introduced by Wallace, Keven and Honghua Dai is a minimal causal model learner. In this paper, we further prove that the developed minimal causal model learner is reliable in the sense of satisfactory consistency. The experimental results obtained from the tests on a number of both artificial and real models provided in this paper confirm this theoretical result.

Adaptation of LEACH routing protocol to cognitive radio sensor networks

One of the drawbacks of LEACH protocol is the uncontrolled selection of cluster heads which, in some rounds, leads to the concentration of them in a limited area due to the randomness of the selection procedure. LEACH-C is a variant of LEACH that uses a centralized clustering algorithm and forms good clusters through sink control. According to experimental results, the IEEE 802.15.4 packets are damaged by WLAN interferences in ISM band. It seems that, sensor nodes equipped with cognitive radio capabilities can overcome this problem. In cognitive radio sensor networks (CRSN), routing must be accompanied by channel allocation. This requires spectrum management which can be devolved to cluster heads. For this networks, new duty cycle mechanisms must be designed that jointly consider neighbor discovery, and spectrum sensing/allocation. Cluster-based network architecture is a good choice for effective dynamic spectrum management. In such architecture, cluster heads have a proper spatial distribution and are optimally located all over the network. In this paper, using the physical layer information and preserving the feature of random cluster head selection in LEACH, it has been tried to both move the position of cluster heads to appropriate locations and make their quantity optimal. The simulation results show that the transferal of cluster heads to appropriate locations increases the network lifetime significantly though this comes at the price of early instability appearance. By considering the energy level in cluster head election algorithm, one can overcome the network stability issues too. However, this will move the cluster heads away from their appropriate locations. © 2012 IEEE.

Pathways to new drug discovery in neuropsychiatry

There is currently a crisis in drug discovery for neuropsychiatric disorders, with a profound, yet unexpected drought in new drug development across the spectrum. In this commentary, the sources of this dilemma and potential avenues to redress the issue are explored. These include a critical review of diagnostic issues and of selection of participants for clinical trials, and the mechanisms for identifying new drugs and new drug targets. Historically, the vast majority of agents have been discovered serendipitously or have been modifications of existing agents. Serendipitous discoveries, based on astute clinical observation or data mining, remain a valid option, as is illustrated by the suggestion in the paper by Wahlqvist and colleagues that treatment with sulfonylurea and metformin reduces the risk of affective disorder. However, the identification of agents targeting disorder-related biomarkers is currently proving particularly fruitful. There is considerable hope for genetics as a purist, pathophysiologically valid pathway to drug discovery; however, it is unclear whether the science is ready to meet this promise. Fruitful paradigms will require a break from the orthodoxy, and creativity and risk may well be the fingerprints of success.

The relationship between pre-sale price estimates and the hammer price for Australian paintings sold at auction

Realized price for paintings auctioned can systematically differ from prior estimates. We need to understand why experts get it wrong. This paper uses an econometric approach to investigate how pre-sales price estimates are formed and the impact that they have in determining auction prices for Australian paintings.

An empirical study of the world price of sustainability

The core goal of this study is to empirically investigate whether there is a “world price” of corporate sustainability. This is assessed in the context of standard asset pricing models—in particular, by asking whether a risk premium attaches to a sustainability factor after controlling for the Fama–French factors. Both time-series and cross-sectional tests are formulated and applied. The results show that (1) global Fama–French factors have strong power to explain global equity returns and (2) sustainability investments have no significant impact on global equity returns. The absence of a significant relationship between sustainability and returns implies that large institutional investors are free to implement sustainability mandates without fear of breaching their fiduciary duties from realising negative returns due to incorporating a sustainability investment process.