Profit and Cost in "Modern" Post-Marxian Profit Theory: A Case Study from Varian's "Intermediate Microeconomics"

In this paper, I examine the treatment of competitive profit of professor Varian in his textbook on Microeconomics, as a representative of the “modern” post-Marxian view on competitive profit. I show how, on the one hand, Varian defines profit as the surplus of revenues over cost and, thus, as a part of the value of commodities that is not any cost. On the other hand, however, Varian defines profit as a cost, namely, as the opportunity cost of capital, so that, in competitive conditions, the profit or income of capital is determined by the opportunity cost of capital. I argue that this second definition contradicts the first and that it is based on an incoherent conception of opportunity cost.

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.

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.

Preliminary studies on food and feeding habits of Polypterus endlicheri and Polypterus senegalus in Lake Chad

The food and feeding habits of Polyprerus cncllicheri and Polypterus senegalus was carried out in the months of September to October. The food of 33 Polypierus endlicheri as observed include Tilapia species (89.3%), Eutropius niloticus (28.6%), Mayfly nymph (39.3%), Dragon fly larva (56.6%) fish remains (21.4%) and detritus (7.1%). The food of27 Polypterus senegalus as observed include Tilapia sp (88.4%), Eutropius niloticus (27.9%), may fly nymph (23.3%), Dragonfly nymph (34.9%) remains (21.1%) detritus (23.3%). (9 page document) The percentage occurrence of food item found in the stomach of Polypterus endlieheri is 93.3% while that of Polyprerus senegalus is 67.4%. The dominance of Tilapia sp was establish in the study, and there is no significant difference between the feeding habit of Polypterus endlicheri and Polyprerus senegalus.

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)

Beach monitoring project Sand Key Phase II Beach nourishment program (North Redington Beach and Redington Shores) Post-Nourishment Report Part II Offshore Profiles and Wave Data

This study presents the third post-nourishment survey (January 1989) results for the Sand Key Phase II beach nourishment project carried out in June, 1988. The monitoring program to this beach nourishment project is a joint effort between the University of South Florida and University of Florida. The field surveys include a total of 26 profiles, encompassing approximately 3 miles of shoreline extending from DNR R-96 to R-1ll. The total calculated volume loss of sand in the nourished segment (from R-99G to R-107) between the July 88 and January 89 surveys is 51,113 cubic yards, which is a loss about 9.7 percent of 529,150 cubic yards actually placed in the nourishment project. The total loss of sand computed in the entire survey area is 26,796 cubic yards, which is only 5.1 percent of the sand placed in the nourishment project. It is stressed that a part of these net volume reductions is due to the background erosion and not due to spreading losses induced by the nourishment project. (PDF contains 168 pages.)

Aquatic Vegetation, Largemouth Bass and Water Quality Responses to Low-Dose Fluridone Two Years Post Treatment

Whole-lake techniques are increasingly being used to selectively remove exotic plants, including Eurasian watermilfoil ( Myriophyllum spicatum L.). Fluridone (1-methyl-3-phenyl- 5-[3-(trifluoromethyl)phenyl]-4(1 H )-pyridinone), a systemic whole-lake herbicide, is selective for Eurasian watermilfoil within a narrow low concentration range. Because fluridone applications have the potential for large effects on plant assemblages and lake food webs, they should be evaluated at the whole-lake scale. We examined effects of low-dose (5 to 8 ppb) fluridone applications by comparing submersed plant assemblages, water quality and largemouth bass ( Micropterus salmoides ) growth rates and diets between three reference lakes and three treatment lakes one- and two-years post treatment. In the treatment lakes, fluridone reduced Eurasian watermilfoil cover without reducing native plant cover, although the duration of Eurasian watermilfoil reduction varied among treatment lakes. (PDF has 11 pages.)

Impacto de las políticas crediticias de la banca en los resultados ex post : una aproximación desde las teorías económicas del ciclo crediticio

[ES]Este trabajo se centra en el análisis de la relación entre las políticas crediticias de las entidades de crédito y el comportamiento de las mismas ex post. Se hace una revisión de la teoría que justifica que los mercados crediticios pueden estar sujetos, en determinadas circunstancias, a un componente endógeno más elevado de lo que, en general, se atribuye. Se plantea como hipótesis de trabajo la existencia de una relación entre la intensidad en el crecimiento de la cartera crediticia de los bancos en las fases de expansión crediticia y su comportamiento ex post. Los resultados preliminares presentados confirman la hipótesis de que las entidades que más desvían su crecimiento crediticio respecto del crecimiento del PIB nominal, están sujetas a un peor comportamiento en cuanto a la evolución posterior de sus beneficios, rentabilidades e insolvencias.

Explorando la relación entre políticas crediticias y resultados de la banca española ex-post

© Este trabajo está licenciado bajo la licencia Creative Commons Attribution 3.0.

Itzulpen automatikorako tresnen egokitzapena euskararako: post-edizioa, ebaluazioa eta aurre-edizioa

Proiektu honetan zehar Itzulpen Automatikoa eta horren inguruko tresnen inguruan jorratu da. Lengoaia Naturalaren Prozesamendua eta itzulpen automatikoa ikasi eta aztertu egin dira ikuspuntu zabal batetik. Itzulpen automatiko orokorraz eta horren aplikazio mota desberdinetatik gain, bestelako kontzeptuak ere tratatu dira, hala nola, itzulpenean laguntzeko tresnak, itzulpen automatikoaren ebaluazioa eta itzulpen automatikorako testuen aurre-edizioa eta post-edizioa. Ikasketa- eta aztertze-prozesu horretaz gain, erlazionatuta dauden tresnak erabili edota moldatu egin dira euskararako itzulpen automatikoan barne. Hiru atal nagusi nabarmendu daitezke: Lehenengo, OmegaT, itzulpenean laguntzeko softwarea, moldatu da Matxin euskararako itzultzaile automatikoa gehituz. Gainera, IXA Taldearen eta Euskal Wikipediaren arteko kolaborazio-lanean, Wikipediako artikuluak eskuratu, itzuli eta igotzeko aukera egokitu zaio OmegaT-ri eta horren erabilera sustatu da Euskal Wikipediako komunitatean eta UPV/EHUko Informatikako ikasle eta irakaslegoaren artean. Bestalde, lan honetaz baliatuz, OmegaT-k sortzen dituen itzulpen-memoriak, Matxin-en itzulpenen gaineko post-edizioan oinarrituak, eskuratzeko modu bat egin da, horiekin Matxin-en funtzionamendua hobetu ahal izateko. Ondoren, Asiya programan integratu egin da euskara. Asiya-k itzulpen automatikoaren ebaluazio eta meta-ebaluazioak egin ditzakeen aplikazioa da. Hainbat metrika aztertu dira euskara aztertzeko balio ote duten begiratzeko. Besteen artean, lau metrikari euskara gehitzeko saiakera egin nahi izan da IXA Taldeko euskarazko testuen analizatzaile batek eskainitako informazio sintaktikoa gehituz, baina bi metrika soilik egokitu ahal izan dira. Azkenik, DiSeg esaldi-segmentatzailea erabili egin da gaztelerazko corpus baten gainean esaldi luzeak banatzeko. Aurre-edizio hori eta gero itzuli egin dira eta Asiya erabiliz emaitzen ebaluazioa eta konparazioa egin dira, esaldi laburragoekin itzulpen automatiko eraginkorragoa lortzen oten den aztertzeko.

Length of concentrate finishing affects the fatty acid composition of grass-fed andgenetically lean beef: an emphasis on trans-18:1 and conjugated linoleic acid profiles

2.4. The author may post the VoR version of the article (in PDF or HTML form) in the Institutional Repository of the institution in which the author worked at the time the article was first submitted, or (for appropriate journals) in PubMed Central or UK PubMed Central or arXiv, no sooner than one year after first publication of the article in the Journal, subject to file availability and provided the posting includes a prominent statement of the full bibliographical details, a copyright notice in the name of the copyright holder (Cambridge University Press or the sponsoring Society, as appropriate), and a link to the online edition of the Journal at Cambridge Journals Online.