The Evening Journal, St. Catharines, Ontario, May 8, 1883

The Evening Journal, St. Catharines, Ontario, May 8, 1883.

The Evening Journal, St. Catharines, Ontario, August 16, 1900

The Evening Journal, St. Catharines, Ontario, August 6, 1900.

The Thorold Post, Thorold, Ontario, July 30, 1927

The Thorold Post, Thorold, Ontario, July 30, 1927.

The Thorold Post, Thorold, Ontario, June 30, 1927

The Thorold Post, Thorold, Ontario. This is a supplement to the paper commemorating the Canada’s Diamond Jubilee 1867-1927. The front page of the supplement is coloured, June 30, 1927.

The Niagara Advance and Weekly Fruitman, Niagara-on-the-Lake, Ontario, April 8, 1937

The Niagara Advance and Weekly Fruitman, Niagara-on-the-Lake, Ontario, April 8, 1937.

Guide to the Whirlpool Rapids Park, Niagara Falls, Ontario

Guide to the Whirlpool Rapids Park, Niagara Falls, Ontario 18 cm. x 12 ½ cm. newsprint. There is a piece missing from upper left hand corner which does not affect text, n.d

Burning Springs, Niagara Falls, Ontario

Burning Springs, Niagara Falls, Ontario with P.S. Clark listed as proprietor, 19 ½ x 13 cm. There is some wear on the sides of the paper which does not affect text. There is also slight staining, n.d.

Broadside for a centennial celebration of the settlement of Ontario by the United Empire Loyalists

Broadside, 90 cm. x 55 cm. made from canvas. This broadside is for a centennial celebration of the settlement of Ontario by the United Empire Loyalists. The first line reads “1774 -1884” [it should be 1784-1884]. The celebration was to be held on the historic plains of Niagara. The names of the general committee of the celebration are listed as well as the names of Major Hiscott, warden; F.A.B. Clench, chairman and Dan Servos. It is written in pencil that “this was given by J.B. Secord”. There are some small holes in the broadside and a small bit of canvas has lost some of its texture. This affects the text very slightly. 1884

The Effect of Agricultural Zoning on Land Prices, Quebec, 1975-1981

Dans Ce Texte Nous Examinons les Effets de la Loi du Zonage Agricole du Quebec, Proclame En Decembre 1978 Sur le Prix du Sol Dans une Banlieu de Montreal. a L'aide de Donnees Sur les Transactions Normales Faites a Carignan et Saint-Mathias de 1975 a 1981, Nous Estimons, a L'aide des Moindres Carrees Ordinaires, une Equation de Determination du Prix Par Acre Avec Comme Variables Independantes la Dimension du Lot, la Distance de Montreal, les Services Disponibles (Egouts,...) et le Zonage Agricole (Ou Non) du Sol. Nos Resultats Nous Indiquent Que le Zonage Agricole Reduit le Prix D'un Acre de Sol.

Explaining the Persistence of Commodity Prices

This paper extends the Competitive Storage Model by incorporating prominent features of the production process and financial markets. A major limitation of this basic model is that it cannot successfully explain the degree of serial correlation observed in actual data. The proposed extensions build on the observation that in order to generate a high degree of price persistence, a model must incorporate features such that agents are willing to hold stocks more often than predicted by the basic model. We therefore allow unique characteristics of the production and trading mechanisms to provide the required incentives. Specifically, the proposed models introduce (i) gestation lags in production with heteroskedastic supply shocks, (ii) multiperiod forward contracts, and (iii) a convenience return to inventory holding. The rational expectations solutions for twelve commodities are numerically solved. Simulations are then employed to assess the effects of the above extensions on the time series properties of commodity prices. Results indicate that each of the features above partially account for the persistence and occasional spikes observed in actual data. Evidence is presented that the precautionary demand for stocks might play a substantial role in the dynamics of commodity prices.

Sampling Interval and estimated Betas : Implications for the Presence of Transitory Components in Stock Prices

We provide a theoretical framework to explain the empirical finding that the estimated betas are sensitive to the sampling interval even when using continuously compounded returns. We suppose that stock prices have both permanent and transitory components. The permanent component is a standard geometric Brownian motion while the transitory component is a stationary Ornstein-Uhlenbeck process. The discrete time representation of the beta depends on the sampling interval and two components labelled \"permanent and transitory betas\". We show that if no transitory component is present in stock prices, then no sampling interval effect occurs. However, the presence of a transitory component implies that the beta is an increasing (decreasing) function of the sampling interval for more (less) risky assets. In our framework, assets are labelled risky if their \"permanent beta\" is greater than their \"transitory beta\" and vice versa for less risky assets. Simulations show that our theoretical results provide good approximations for the means and standard deviations of estimated betas in small samples. Our results can be perceived as indirect evidence for the presence of a transitory component in stock prices, as proposed by Fama and French (1988) and Poterba and Summers (1988).

Geographical and temporal distribution of human giardiasis in Ontario, Canada

Affiliation: Pascal Michel : Département de pathologie et microbiologie, Faculté de médecine vétérinaire, Université de Montréal