Multifactor consumption based asset pricing models using the US stock market as a reference: Evidence from a panel of developed economies

This article was submitted and presented at the European Economics and Finance Society Conference, 2012, at Koç University, Istanbul, and the final version was published in a Special Section of Economic Modelling. The special section editor was John Hunter from Brunel University London.In this paper we extend the time series analysis to the panel framework to test the C-CAPM driven by wealth references for developed countries. Speci cally, we focus on a linearised form of the Consumption-based CAPM in a pooled cross section panel model with two-way error com- ponents. The empirical findings of this two-factor model with various specifications all indicate that there is significant unobserved heterogeneity captured by cross-country fixed e¤ects when consumption growth is treated as a common factor, of which the average risk aversion coefficient is 4.285. However, the cross-sectional impact of home consumption growth varies dramatically over the countries, where unobserved heterogeneity of risk aversion can also be addressed by random effects

Electric Vehicles

This chapter regards the current state of electric vehicles in society today: the pros and cons, areas that need to improve, etc. The chapter starts by discussing some of the unethical practices that go into creating commodities of electric vehicles. From there, we explore the short, yet rapidly changing history of electric vehicles. Topics explored throughout its history include early inefficiencies, the introduction of hybrids that led to major improvements, and the increase in availability. The chapter then explores markets and commodities of electric vehicles, which explores the supply and demand side of this technology. We will show how growing demand has lead to improved government action, and how production methods must be improved for a sustainable future of electric vehicles. Finally, we test the ethics of electric vehicles, challenging the notion of nothing but the most ethical environmental standards. We will show how ways of metal mining and electricity generation actually do more bad than good for our environment. By reading this chapter, you will become more knowledgeable of how impactful electric vehicles are, and also you will get a grasp on whether or not you want to support this practice.Angela Person, Ph.D.N

The Magnetic Field of the Irregular Galaxy NGC 4214

We examine the magnetic field in NGC 4214, a nearby irregular galaxy, using multi-wavelength radio continuum polarization data from the Very Large Array. We find that the global radio continuum spectrum shows signs that free-free absorption and/or synchrotron losses may be important. The 3cm radio continuum morphology is similar to that of the Halpha, while the 20cm emission is more diffuse. We estimate that 50% of the radio continuum emission in the center of the galaxy is thermal. Our estimate of the magnetic field strength is $30\pm 9.5$ \uG\ in the center and $10\pm3$ \uG\ at the edges. We find that the hot gas, magnetic, and the gravitational pressures are all the same order of magnitude. Inside the central star forming regions, we find that the thermal and turbulent pressures of the HII regions dominate the pressure balance. We do not detect any significant polarization on size scales greater than 200 pc. We place an upper limit of 8 \uG\ on the uniform field strength in this galaxy. We suggest that the diffuse synchrotron region, seen to the north of the main body of emission at 20cm, is elongated due to a uniform magnetic field with a maximum field strength of 7.6 \uG. We find that, while the shear in NGC 4214 is comparable to that of the Milky Way, the supernova rate is half that of the Milky Way and suggest that the star formation episode in NGC 4214 needs additional time to build up enough turbulence to drive an $\alpha-\omega$ dynamo.Comment: Accepted by ApJ. Version with high resolution figures at http://www.astro.virginia.edu/~aak8t/data/n4214/ms.pd

The non-thermal superbubble in IC 10 : the generation of cosmic ray electrons caught in the act

Superbubbles are crucial for stellar feedback, with supposedly high (of the order of 10 per cent) thermalization rates. We combined multiband radio continuum observations from the Very Large Array (VLA) with Effelsberg data to study the non-thermal superbubble (NSB) in IC 10, a starburst dwarf irregular galaxy in the Local Group. Thermal emission was subtracted using a combination of Balmer Hα and VLA 32 GHz continuum maps. The bubble’s nonthermal spectrum between 1.5 and 8.8 GHz displays curvature and can be well fitted with a standard model of an ageing cosmic ray electron population. With a derived equipartition magnetic field strength of 44 ±8 μG, and measuring the radiation energy density from Spitzer MIPS maps as 5±1×10−11 erg cm−3, we determine, based on the spectral curvature, a spectral age of the bubble of 1.0 ± 0.3 Myr. Analysis of the LITTLE THINGS HI data cube shows an expanding HI hole with 100 pc diameter and a dynamical age of 3.8 ± 0.3 Myr, centred to within 16 pc on IC 10 X-1, a massive stellar mass black hole (M > 23 M⊙). The results are consistent with the expected evolution for a superbubble with a few massive stars, where a very energetic event like a Type Ic supernova/hypernova has taken place about 1 Myr ago. We discuss alternatives to this interpretationPeer reviewe

Bringing Deep Space Missions Within Reach for Small Spacecraft

There is growing interest in using small spacecraft for science and exploration beyond low Earth orbit, but these missions have been constrained to fly as secondary payloads on rideshare missions that launch infrequently and on less-than-ideal trajectories. Regular, dedicated, low-cost science missions to planetary destinations can be enabled by Rocket Lab’s high-ΔV small spacecraft, the high-energy Photon, supporting expanding opportunities for scientists and increasing the rate of science return. High-energy Photon can launch on Rocket Lab’s Electron launch vehicle to precisely target escape asymptotes for planetary small spacecraft missions with payload masses up to ~40 kg without the need for a medium or heavy lift launch vehicle. High-energy Photon can also fly as a secondary payload on an EELV Secondary Payload Adapter (ESPA) Grande port or on other launch vehicles, like Neutron. This paper describes planetary small spacecraft currently in development that leverage Rocket Lab’s deep space capabilities, including missions to the Moon, Venus, and Mars. The high-energy Photon will be demonstrated on the NASA Cislunar Autonomous Positioning System Technology Operations and Navigation Experiment (CAPSTONE) mission, launching in 2021. CAPSTONE is expected to be the first spacecraft to operate in a Near Rectilinear Halo Orbit (NRHO) around the Moon, with high-energy Photon delivering NASA’s 12U technology demonstration CubeSat on a Ballistic Lunar Transfer using a phasing orbit approach. The CAPSTONE high-energy Photon will launch on Electron. While NASA performs the primary mission, Rocket Lab plans to execute a secondary mission to demonstrate the high-energy Photon deep space operations capabilities with a lunar flyby. Rocket Lab has also made the engineering and financial commitment to fly a private mission to Venus in 2023 to help answer the question, “Are we alone in the universe?” The mission will deploy a small probe into the atmosphere in search of biomarkers. The mission is planned for launch in May 2023 on Electron from Rocket Lab’s Launch Complex-1. The mission will follow a hyperbolic trajectory with the high-energy Photon performing as the cruise stage and then as a communications relay after deploying a small probe for the science phase of the mission. In early 2021, Rocket Lab was awarded a contract for the preliminary design of two Photon spacecraft for the Escape and Plasma Acceleration and Dynamics Explorers (ESCAPADE) mission. ESCAPADE is a twin-spacecraft science mission that will orbit a pair of spacecraft around Mars to understand the structure, composition, variability, and dynamics of Mars\u27 unique hybrid magnetosphere. After launch as secondary payloads on a commercial launch vehicle provided by NASA, the two spacecraft will each execute a series of burns with the Hyper Curie engine to prepare for and execute the Trans-Mars Injection (TMI), perform an 11-month interplanetary cruise with several trajectory correction maneuvers (TCMs), and then perform the Mars Orbit Insertion (MOI) burns to insert into elliptical orbits around Mars. ESCAPADE is undergoing a NASA preliminary design review and a confirmation review in the summer of 2021 to evaluate whether the mission proceeds to implementation and flight

Training peers to treat Ebola centre workers with anxiety and depression in Sierra Leone

Background: Following the 2014 Ebola virus disease (EVD) outbreak in West Africa, the UK Department for International Development funded South London and Maudsley National Health Service (NHS) to develop a psychological intervention that ex-Ebola Treatment Centre (ETC) staff could be trained to deliver to their peers to improve mental health in Sierra Leone. / Aim: The two key aims were to assess the feasibility of training a national team to deliver a cognitive behavioural therapy (CBT)–based group intervention, and to evaluate the effectiveness of the overall intervention within this population. / Methods: UK clinicians travelled to Sierra Leone to train a small team of ex-ETC staff in a three-phased CBT-based intervention. Standardised clinical measures, as well as bespoke measures, were applied with participants through the intervention to assess changes in mental health symptomology, and the effectiveness of the intervention. / Results: The results found improvements across all factors of mental health in the bespoke measure from phase 1 to phase 3. Additionally, the majority of standardised clinical measures showed improvements between phase 2 and the start of phase 3, and pre- and post-phase 3. / Conclusion: Overall, the findings suggest that it is possible to train staff from ETCs to deliver effective CBT interventions to peers. The implications of these results are discussed, including suggestions for future research and clinical intervention implementation within this population. The limitations of this research are also addressed

Acute myeloid leukaemia: an unusual cause of biliary strictures.

A 17-year-old man with no significant past medical history presented with a 2-week history of worsening jaundice, lethargy, anorexia and progressive right upper quadrant abdominal pain. There were no stigmata of chronic liver disease. Initial investigations were suggestive of cholangitis with large intrahepatic and extrahepatic bile duct strictures but otherwise normal hepatic and splenic appearances. A percutaneous transhepatic cholangiogram with the positioning of drains was performed to alleviate the obstructive jaundice. Within 2 weeks of the first presentation, full blood count revealed a significantly raised white blood count and a subsequent peripheral blood smear and bone marrow were consistent with a diagnosis of acute myeloid leukaemia. Chemotherapy was started after partial improvement of his obstructive jaundice. Complete morphological and cytogenetic remission was obtained 4 weeks after the first cycle of chemotherapy (half dose of daunorubicin and full dose of cytarabine, treated off trial) on control bone marrow. The patient remains in remission

Looking in the mirror for the first time after facial burns: a retrospective mixed methods study

Appearance-related concerns are common following burns. However, there is minimal research that has specifically investigated patients' reactions when they looked in the mirror for the first time following facial burns. The current study aimed to investigate patients' reactions and factors associated with distress. Burns patients (n=35) who had sustained facial injuries completed a questionnaire which examined their reactions when looking in the mirror for the first time. Data were collected between April and July 2013. Participants had sustained their burns 12 months prior to participating, on average (ranging from one to 24 months). Forty-seven percent (n=16) of patients were worried about looking for the first time, 55% (n=19) were concerned about what they would see, and 42% (n=14) held negative mental images about what their faces looked like before they looked. Twenty-seven percent (n=9) of patients initially avoided looking, 38% (n=13) tried to 'read' others' reactions to them to try to gauge what they looked like, and 73% (n=25) believed that it was important for them to look. Mean ratings suggested that patients found the experience moderately distressing. Patients most often found the experience less distressing compared to their expectations. Distress was related to feeling less prepared, more worried and increased negative mental images prior to looking. In conclusion, patients' reactions to looking in the mirror for the first time vary. Adequately preparing patients and investigating their expectations beforehand is crucial. The findings have a number of important implications for practice