The Comovement between Monetary and Fiscal Policy Instruments during the Post-War Period in the U.S.

This paper empirically studies the dynamic relationship between monetary and fiscal policies by analyzing the comovements between the Fed funds rate and the primary deficit/output ratio. Simple economic thinking establishes that a negative correlation between Fed rate and deficit arises whenever the two policy authorities share a common stabilization objective. However, when budget balancing concerns lead to a drastic deficit reduction the Fed may reduce the Fed rate in order to smooth the impact of fiscal policy, which results in a positive correlation between these two policy instruments. The empirical results show (i) a significant negative comovement between Fed rate and deficit and (ii) that deficit and output gap Granger-cause the Fed funds rate during the post-Volcker era, but the opposite is not true.

Annual report 1996 - North Pacific Marine Science Organization (PICES). Fifth meeting, Nanaimo, British Columbia, Canada, October 11-20, 1996

Proceedings of the Fifth Annual Meeting Agenda Report of Opening Session Report of Governing Council Meetings Reports of Science Board and Committees Science Board Working Group 5: Bering Sea (Final Report) Working Group 9: Subarctic Pacific Monitoring Report of the First Meeting Report of the Second Meeting Biological Oceanography Committee Working Group 11: Consumption of Marine Resources by Marine Birds and Mammals Fishery Science Committee Working Group 12: Crabs and Shrimps Marine Environmental Quality Committee Working Group 8: Practical Assessment Methodology Physical Oceanography and Climate Committee Working Group 10: Circulation and Ventilation in the Japan Sea /East Sea and its Adjacent Areas Technological Committee on Data Exchange Finance and Administration Report of Finance and Administration Committee Assets on 31st of December, 1995 Income and Expenditures for 1995 Budget for 1997 Composition of the Organization Officers, Delegates, Finance and Administration Committee, Science Board, Secretariat, Scientific and Technical Committees List of Participants List of Acronyms (Document has 163 pages.)

Time Variation in an Optimal Asymmetric Preference Monetary Policy Model

This paper considers a time varying parameter extension of the Ruge-Murcia (2003, 2004) model to explore whether some of the variation in parameter estimates seen in the literature could arise from this source. A time varying value for the unemployment volatility parameter can be motivated through several means including variation in the slope of the Phillips curve or variation in the preferences of the monetary authority.We show that allowing time variation for the coefficient on the unemployment volatility parameter improves the model fit and it helps to provide an explanation of inflation bias based on asymmetric central banker preferences, which is consistent across subsamples.

Optimal Monetary Policy with Asymmetric Preferences for Output

Using a model of an optimizing monetary authority which has preferences that weigh inflation and unemployment, Ruge-Murcia (2003, 2004) finds empirical evidence that the authority has asymmetric preferences for unemployment. We extend this model to weigh inflation and output and show that the empirical evidence using these series also supports an asymmetric preference hypothesis, only in our case, preferences are asymmetric for output. We also find evidence that the monetary authority targets potential output rather than some higher output level as would be the case in an extended Barro and Gordon (1983) model.

Proceedings fo the Seventeenth Annual Sea Turtle Symposium, 4-8 March 1997, Orlando, Florida, U.S.A.

The 17th Annual Sea Turtle Symposium was held at the Delta Orlando Resort in Orlando, Florida U.S.A. from March 4-8, 1997. The symposium was hosted by Florida Atlantic University, Mote Marine Laboratory, University of Central Florida, University of Florida, Florida Atlantic University and the Comité Nacional para la Conservación y Protección de las Totugas Marinas. The 17th was the largest symposium to date. A total of 720 participants registered, including sea turtle biologists, students, regulatory personnel, managers, and volunteers representing 38 countries. In addition to the United States, participants represented Australia, Austria, the Bahamas, Bonaire, Bermuda, Brazil, Canada, Colombia, Costa Rica, Croatia, Cuba, Cyprus, Dominican Republic, Ecuador, England, Guatemala, Greece, Honduras, India, Italy, Japan, Madagascar, Malaysia, Mexico, The Netherlands, Nicaragua, Peru, Philippines, Republic of Seychelles, Scotland, Spain, Sri Lanka, Switzerland, Taiwan, Turkey, Uruguay, and Venezuela. In addition to the 79 oral, 2 video, and 120 poster presentations, 3 workshops were offered: Selina Heppell (Duke University Marine Laboratory) provided “Population Modeling,” Mike Walsh and Sam Dover (Sea World-Orlando) conducted “Marine Turtle Veterinary Medicine” and “Conservation on Nesting Beaches” was offered by Blair Witherington and David Arnold (Florida Department of Environmental Protection). On the first evening, P.C.H. Pritchard delivered a thoughtful retrospect on Archie Carr that showed many sides of a complex man who studied and wrote about sea turtles. It was a presentation that none of us will forget. The members considered a number of resolutions at the Thursday business meeting and passed six. Five of these resolutions are presented in the Commentaries and Reviews section of Chelonian Conservation and Biology 2(3):442-444 (1997). The symposium was fortunate to have many fine presentations competing for the Archie Carr Best Student Presentations awards. The best oral presentation award went to Amanda Southwood (University of British Columbia) for “Heart rates and dive behavior of the leatherback sea turtle during the internesting interval.” The two runners-up were Richard Reina (Australian National University) for “Regulation of salt gland activity in Chelonia mydas” and Singo Minamikawa (Kyoto University) for “The influence that artificial specific gravity change gives to diving behavior of loggerhead turtles”. The winner of this year’s best poster competition was Mark Roberts (University of South Florida) for his poster entitled “Global population structure of green sea Turtles (Chelonia mydas) using microsatellite analysis of male mediated gene flow.” The two runners-up were Larisa Avens (University of North Carolina-Chapel Hill) for “Equilibrium responses to rotational displacements by hatchling sea turtles: maintaining a migratory heading in a turbulent ocean” and Annette Broderick (University of Glasgow) for “Female size, not length, is a correlate of reproductive output.” The symposium was very fortunate to receive a matching monetary and subscription gift from Anders J. G. Rhodin of the Chelonian Research Foundation. These enabled us to more adequately reward the fine work of students. The winners of the best paper and best poster awards received $400 plus a subscription to Chelonian Conservation and Biology. Each runner up received $100. The symposium owes a great debt to countless volunteers who helped make the meeting a success. Those volunteers include: Jamie Serino, Alan Bolton, and Karen Bjorndal, along with the UF students provided audio visual help, John Keinath chaired the student awards committee, Mike Salmon chaired the Program Commiteee, Sheryan Epperly and Joanne Braun compiled the Proceedings, Edwin Drane served as treasurer and provided much logistical help, Jane Provancha coordinated volunteers, Thelma Richardson conducted registration, Vicki Wiese coordinated food and beverage services, Jamie Serino and Erik Marin coordinated entertainment, Kenneth Dodd oversaw student travel awards, Traci Guynup, Tina Brown, Jerris Foote, Dan Hamilton, Richie Moretti, and Vicki Wiese served on the time and place committee, Blair Witherington created the trivia quiz, Tom McFarland donated the symposium logo, Deborah Crouse chaired the resolutions committee, Pamela Plotkin chaired the nominations committee, Sally Krebs, Susan Schenk, and Larry Wood conducted the silent auction, and Beverly and Tom McFarland coordinated all 26 vendors. Many individuals from outside the United States were able to attend the 17th Annual Sea Turtle Symposium thanks to the tireless work of Karen Eckert, Marydele Donnelly, and Jack Frazier in soliciting travel assistance for a number of international participants. We are indebted to those donating money to the internationals’ housing fund (Flo Vetter Memorial Fund, Marinelife Center of Juno Beach, Roger Mellgren, and Jane Provancha). We raise much of our money for international travel from the auction; thanks go to auctioneer Bob Shoop, who kept our auction fastpaced and entertaining, and made sure the bidding was high. The Annual Sea Turtle Symposium is unequaled in its emphasis on international participation. Through international participation we all learn a great deal more about the biology of sea turtles and the conservation issues that sea turtles face in distant waters. Additionally, those attending the symposium come away with a tremendous wealth of knowledge, professional contacts, and new friendships. The Annual Sea Turtle Symposium is a meeting in which pretenses are dropped, good science is presented, and friendly, open communication is the rule. The camaraderie that typifies these meetings ultimately translates into understanding and cooperation. These aspects, combined, have gone and will go a long way toward helping to protect marine turtles and toward aiding their recovery on a global scale. (PDF contains 342 pages)

Emerging technologies for reef fisheries research and management [held during the 56th annual Gulf and Caribbean Fisheries Institute meeting in Tortola, British Virgin Islands, November 2003]

This publication of the NOAA Professional Paper NMFS Series is the product of a special symposium on “Emerging Technologies for Reef Fisheries Research and Management” held during the 56th annual Gulf and Caribbean Fisheries Institute meeting in Tortola, British Virgin Islands, November 2003. The purpose of this collection is to highlight the diversity of questions and issues in reef fisheries management that are benefiting from applications of technology. Topics cover a wide variety of questions and issues from the study of individual behavior, distribution and abundance of groups and populations, and associations between habitats and fish and shellfish species.(PDF files contains 124 pages.)

Aquatic insects as target organisms for the study of effects of projected climate change in the British Isles

One of the objectives of the Terrestrial Initiative in Global Environmental Research is to assess the sensitivity of British plant and animal species to climate change. The first phase of the program involved the identification of criteria for selecting species suitable for the study of effects of projected climate change in the British Isles. Apart from shallow ponds, annual temperature ranges of 0 to 25 C in temperate freshwater habitats are narrower than those in most temperate terrestrial habitats. Although freshwater organisms have to exist within a narrower range than their terrestrial equivalents, few species can survive throughout their life cycle over the whole temperature range. Field studies on the effects of natural and artificial thermal discharges into streams and rivers have shown that increases in water temperature affect aquatic insects at both the species and community level. Although field data provide valuable information, a more productive approach is to determine experimentally the requirements of different species. Although there are just over 1850 species of aquatic insects in the British Isles, detailed quantitative information on the relationship between temperature and development of eggs, larvae and pupa is available for relatively few species. One exception is the egg stage of stoneflies (Plecoptera). The range for egg hatching in stoneflies clearly show that some species could be threatened while others could benefit from a defined increase in water temperature as a result of climate change. A critical review of the available data on this group would produce a set of equations that could be used to predict the ecological effects of climate change on this group of indicator species.

Morphological variation with interspecific implications in a population of Sigara dorsalis (Leach) (Hemiptera Heteroptera: Corixidae), and a request for British specimens

Sigara dorsalis belongs to a very closely related group of six species forming the sub-genus Sigara sensu strictu. Each of the six species has a distinct allopatric geographical distribution in Europe. Studies were started on a series of populations in the north west Midlands of England. All the populations examined, except one, contained only males with the typical diagnostic features of S. dorsalis, albeit with considerable variation. One pond near Congleton, Cheshire situated in a permanent-ley pasture and apparently free from pollution contained typical S. dorsalis males but, in addition, many atypical individuals. From one sample of forty-six males, all possessed left parameres with the slight point on the dorsal surface characteristic of S. dorsalis. However, almost half possessed additional morphological features intermediate between S. dorsalis and S. striata.

The role of sites of special scientific interest (SSSIs) in the conservation of British rivers

This paper discusses the particular contribution of the SSSI (Sites of Special Scientific Interest) as a way of nature conservation for rivers. In 1989, the Nature Conservancy Council proposed a dual selection system for selection of rivers; either (1) "Whole river" SSSIs representing the main types of river, or rivers which show classic and representative transitions down their lengths, or (2) "Sectional" SSSIs which are shorter stretches of river with high nature conservation interest. The NCC has recently classified all SSSIs with a river interest into 4 categories: - river SSSIs, river valley SSSIs, river adds interest - where the river clearly adds biological interest to the site, and rivers of incidental interest. The overall length of river SSSIs amounts to almost 1000 km.

Aquatic insects as target organisms for the study of effects of projected climate change in the British Isles

The chief objectives of this brief review are to collate and synthesise quantitative information on the temperature requirements of aquatic insects, and to identify species, and groups of species, that could be useful indicators of climate change and predictors of the ecological effects of change. It arose from the first phase of the Terrestrial Initiative in Global Environmental Research (TIGER), a five-year, NERC Community Programme on the role of the terrestrial biosphere in the science of global change. This phase involved the identification of criteria for selecting species suitable for the study of effects of projected climate change in the British Isles. Field and laboratory studies are reviewed, and criteria for selection of species for future research are suggested. The literature survey shows that no species of aquatic insect can be found to meet all three criteria, but information on the British stoneflies and their eggs already satisfies two of them.

Eggs of British Meniscus midges (diptera;dixidae) observed by scanning electron microscopy

The egg of Dixella martinii is described for the first time. The eggs of the Dixidae are placed in three morphological groups: bulbous and meshed; streamlined and smooth; streamlined and minutely spiculated. Ten of the fourteen species known from Britain are placed in these groups. After a detailed description of the egg of D. martinii, the three morphological groups are described and scanning electron micrographs are provided.

British freshwater Malacostracan

This short divertissement touches lightly on the vagaries of vernacular names for culinary and other crustaceans, gives a thumbnail sketch of the distribution of the common and less well-known freshwater

A review of current biological and recent environmental research on Lake Baikal from a British perspective

In 1990, "BICER" or the Baikal International Centre for Ecological Research was created to foster collaborative research on Lake Baikal. The British effort in BICER was initiated and is administered by the Royal Society, London. Much of the on-going research effort is now focussed on environmental change, as there is increasing concern about recent changes in the lake's unique ecosystem that could be linked with the effects of water pollution from catchment effluents. Monitoring studies of the phytoplankton in Lake Baikal's southern basin indicate that several species have increased in abundance since the mid-70's. Diatoms in Lake Baikal sediments are also being studied.