A Non-Parametric Dimension Test of the Term Structure

Published as an article in: Studies in Nonlinear Dynamics & Econometrics, 2004, vol. 8, issue 3, article 6.

Transparência do orçamento público brasileiro : exame dos documentos orçamentários da União e uma proposta de estrutura para o Orçamento-Cidadão

Sugere medidas para o aperfeiçoamento da transparência do sistema orçamentário federal brasileiro. A partir de pesquisa exploratória busca relacionar o instituto do orçamento público aos conceitos de planejamento, participação popular, controle social, cidadania, accountability e democracia - relações que fundamentam a defesa da transparência orçamentária. Examina se são emitidos dez documentos orçamentários e avalia seus conteúdos. São eles: Declaração Pré-Orçamentária, Proposta de Orçamento do Executivo, Orçamento, Relatórios Mensais, Relatório Semestral, Relatório Anual, Relatório do Auditor, Relatório Pré-Eleitoral, Relatório Plurianual e Orçamento-Cidadão.

Markov Switching Risk Premium and the term structure of interest rates. Empirical evidence from US post-war interest rates

This paper considers the basic present value model of interest rates under rational expectations with two additional features. First, following McCallum (1994), the model assumes a policy reaction function where changes in the short-term interest rate are determined by the long-short spread. Second, the short-term interest rate and the risk premium processes are characterized by a Markov regime-switching model. Using US post-war interest rate data, this paper finds evidence that a two-regime switching model fits the data better than the basic model. The estimation results also show the presence of two alternative states displaying quite different features.

The changing behaviour of the term structure of post-war US

Using U.S. interest rate data covering the period 1950:1-1992:7, this paper tests the rational expectations model of the term structure of interest rates. We show evidence that the rational expectations model of the term structure is supported by the data during the seventies and a period lasting from the mid-eighties to the end of the sample. However, during the …fties, sixties and a period that covers most of the Volcker’s office term (from September 1979 to April 1986) the term structure model is rejected by the data. Moreover, wefind evidence of regime changes in the short-term rate process and the term structure of interest rates. These regime switches roughly coincide with changes in the Federal Reserve chairman. The switches in monetary policy taking place when the chairmanship of the Federal Reserve changes therefore seem to play an important role in characterizing the term structure of interest rates.

Switching Regimes in the Term Structure of Interest Rates During U.S. Post-War: A case for the Lucas proof equilibrium?

Published as an article in: Studies in Nonlinear Dynamics & Econometrics, 2004, vol. 8, issue 1, pages 5.

Methodological keys for the acquisition and long-term use of photographic collections representing elements of Heritage

Contributed to: Fusion of Cultures. XXXVIII Annual Conference on Computer Applications and Quantitative Methods in Archaeology – CAA2010 (Granada, Spain, Apr 6-9, 2010)

PICES-GLOBEC International Program on Climate Change and Carrying Capacity: Report of the 1999 MONITOR and REX Workshops, and the 2000 MODEL Workshop on Lower Trophic Level Modelling

Table of Contents [pdf, 0.11 Mb] Executive Summary [pdf, 0.07 Mb] MODEL Task Team Workshop Report Final Report of the International Workshop to Develop a Prototype Lower Trophic Level Ecosystem Model for Comparison of Different Marine Ecosystems in the North Pacific [pdf, 11.64 Mb] Report of the 1999 MONITOR Task Team Workshop [pdf, 0.32 Mb] Report of the 1999 REX Task Team Workshop Herring and Euphausiid population dynamics Douglas E. Hay and Bruce McCarter Spatial, temporal and life-stage variation in herring diets in British Columbia [pdf, 0.10 Mb] Augustus J. Paul and J. M. Paul Over winter changes in herring from Prince William Sound, Alaska [pdf, 0.08 Mb] N. G. Chupisheva Qualitative texture characteristic of herring (Clupea pallasi pallasi) pre-larvae developed from the natural and artificial spawning-grounds in Severnaya Bay (Peter the Great Bay) [pdf, 0.07 Mb] Gordon A. McFarlane, Richard J. Beamish and Jake SchweigertPacific herring: Common factors have opposite impacts in adjacent ecosystems [pdf, 0.15 Mb] Tokimasa Kobayashi, Keizou Yabuki, Masayoshi Sasaki and Jun-Ichi Kodama Long-term fluctuation of the catch of Pacific herring in Northern Japan [pdf, 0.39 Mb] Jacqueline M. O’Connell Holocene fish remains from Saanich Inlet, British Columbia, Canada [pdf, 0.40 Mb] Elsa R. Ivshina and Irina Y. Bragina On relationship between crustacean zooplankton (Euphausiidae and Copepods) and Sakhalin-Hokkaido herring (Tatar Strait, Sea of Japan) [pdf, 0.14 Mb] Stein Kaartvbeedt Fish predation on krill and krill antipredator behaviour [pdf, 0.08 Mb] Nikolai I. Naumenko Euphausiids and western Bering Sea herring feeding [pdf, 0.07 Mb] David M. Checkley, Jr. Interactions Between Fish and Euphausiids and Potential Relations to Climate and Recruitment [pdf, 0.08 Mb] Vladimir I. Radchenko and Elena P. Dulepova Shall we expect the Korf-Karaginsky herring migrations into the offshore western Bering Sea? [pdf, 0.75 Mb] Young Shil Kang Euphausiids in the Korean waters and its relationship with major fish resources [pdf, 0.29 Mb] William T. Peterson, Leah Feinberg and Julie Keister Ecological Zonation of euphausiids off central Oregon [pdf, 0.11 Mb] Scott M. Rumsey Environmentally forced variability in larval development and stage-structure: Implications for the recruitment of Euphausia pacifica (Hansen) in the Southern California Bight [pdf, 3.26 Mb] Scott M. Rumsey Inverse modelling of developmental parameters in Euphausia pacifica: The relative importance of spawning history and environmental forcing to larval stage-frequency distributions [pdf, 98.79 Mb] Michio J. Kishi, Hitoshi Motono & Kohji Asahi An ecosystem model with zooplankton vertical migration focused on Oyashio region [pdf, 33.32 Mb] PICES-GLOBEC Implementation Panel on Climate Change and Carrying Capacity Program Executive Committee and Task Team List [pdf, 0.05 Mb] (Document pdf contains 142 pages)

Strategic planning for long-term financing of Pacific leatherback conservation and recovery:Proceedings of the Bellagio Sea Turtle Conservation Initiative, Terengganu, Malaysia; July 2007

On 17-20 July 2007, 45 experts on sea turtles, fisheries, conservation and finance from 10 countries convened at the Bellagio Sea Turtle Conservation Initiative workshop in Terengganu to focus on methods to save the imperiled Pacific leatherback from extinction. The group developed a strategic plan to guide the prioritization and long term financing of Pacific leatherback turtle conservation and recovery objectives. Participants identified critical conservation actions and agreed that a business plan is urgently needed to reverse the trajectory towards extinction of the Pacific leatherback. The conservation actions prioritized by the participants encompassed protecting nesting beaches including eggs and nesting females; reducing direct and indirect turtle take in coastal fisheries; and strengthening regional and sub-regional cooperation. The group committed to work together on fundraising and implementation of these urgent conservation actions. This report presents outputs and the plan that was produced from the workshop.

Shoreline erosion due to extreme storms and sea level rise

A summary is presented of research conducted on beach erosion associated with extreme storms and sea level rise. These results were developed by the author and graduate students under sponsorship of the University of Delaware Sea Grant Program. Various shoreline response problems of engineering interest are examined. The basis for the approach is a monotonic equilibrium profile of the form h = Ax2 /3 in which h is water depth at a distance x from the shoreline and A is a scale parameter depending primarily on sediment characteristics and secondarily on wave characteristics. This form is shown to be consistent with uniform wave energy dissipation per unit volume. The dependency of A on sediment size is quantified through laboratory and field data. Quasi-static beach response is examined to represent the effect of sea level rise. Cases considered include natural and seawalled profiles. To represent response to storms of realistic durations, a model is proposed in which the offshore transport is proportional to the "excess" energy dissipation per unit volume. The single rate constant in this model was evaluated based on large scale wave tank tests and confirmed with Hurricane Eloise pre- and post-storm surveys. It is shown that most hurricanes only cause 10% to 25% of the erosion potential associated with the peak storm tide and wave conditions. Additional applications include profile response employing a fairly realistic breaking model in which longshore bars are formed and long-term (500 years) Monte Carlo simulation including the contributions due to sea level rise and random storm occurrences. (PDF has 67 pages.)

Caracterización estructural de complejos ribosomales de iniciación y de pre-translocación mediante microscopía electrónica

120 p : il. col.

Does Long-Term Macrophyte Management in Lakes Affect Biotic Richness and Diversity?

We hypothesize that the richness and diversity of the biota in Lake Moraine (42°50’47”N, 75°31’39”W) in New York have been negatively impacted by 60 years of macrophyte and algae management to control Eurasian watermilfoil ( Myriophyllum spicatum L.) and associated noxious plants. To test this hypothesis we compare water quality characteristics, richness and selected indicators of plant diversity, zooplankton, benthic macroinvertebrates and fish in Lake Moraine with those in nearby Hatch Lake (42°50’06”N, 75°40’67”W). The latter is of similar size and would be expected to have similar biota, but has not been subjected to management. Measurements of temperature, pH, oxygen, conductivity, Secchi transparency, calcium, total phosphorus and nitrites + nitrates are comparable. Taxa richness and the diversity indices applied to the aquatic macrophytes are similar in both lakes. (PDF has 8 pages.)

The Loss of Functional Caspase-12 in Europe Is a Pre-Neolithic Event

6 p.

Long-Term Growth and Persistence with Endogenous Depreciation: Theory and Evidence

Previous research has shown a strong positive correlation between short-term persistence and long-term output growth as well as between depreciation rates and long-term output growth. This evidence, therefore, contradicts the standard predictions from traditional neoclassical or AK-type growth models with exogenous depreciation. In this paper, we first confirm these findings for a larger sample of 101 countries. We then study the dynamics of growth and persistence in a model where both the depreciation rate and growth are endogenous and procyclical. We find that the model s predictions become consistent with the empirical evidence on persistence, long-term growth and depreciation rates.