Real exchange rate movements and the relative price of non-traded goods

We study the quarterly bilateral real exchange rate and the relative price of non-traded to traded goods for 1225 country pairs over 1980?2005. We show that the two variables are positively correlated, but that movements in the relative price measure are smaller than those in the real exchange rate. The relation between the two variables is stronger when there is an intense trade relationship between two countries and when the variance of the real exchange rate between them is small. The relation does not change for rich/poor country bilateral pairs or for high inflation/low inflation country pairs. We identify an anomaly: The relation between the real exchange rate and relative price of non-traded goods for US/EU bilateral trade partners is unusually weak.Trade

U.S. real exchange rate fluctuations and relative price fluctuations

This paper studies the relation between the United States? bilateral real exchange rate and the associated bilateral relative price of nontraded goods for five of its most important trade relationships. Traditional theory attributes fluctuations in real exchange rates to changes in the relative price of nontraded goods. We find that this relation depends crucially on the choice of price series used to measure relative prices and on the choice of trade partner. The relation is stronger when we measure relative prices using producer prices rather than consumer prices. The relation is stronger the more important is the trade relationship between the United States and a trade partner. Even in cases where there is a strong relation between the real exchange rate and the relative price of nontraded goods, however, a large fraction of real exchange rate fluctuations is due to deviations from the law of one price for traded goods.Foreign exchange rates ; Prices ; International trade ; International finance ; Monetary policy

Does correction for guessing reduce students' performance on multiple-choice examinations? Yes? No? Sometimes?

Multiple-choice (MC) examinations are becoming increasingly popular in higher education because they can be used effectively to assess breadth of knowledge in large cohorts of students. This present research investigated Psychology students' performance on, and experiences of, MC examinations with and without correction for guessing. In Study 1, data were collected from two cohorts of students across three Psychology MC examinations. The results revealed that students scored higher, and left fewer questions unanswered, when there was no correction for guessing. Furthermore, when the correction for guessing was removed from the theory MC examination, students who were told there was no correction for guessing did better than those told there was a correction. In addition, there was limited evidence of gender differences, with female students performing significantly better on one MC examination than males. In Study 2, a further set of first-year Psychology students reported their experiences of correction for guessing on open-book and closed-book MC examinations. Students reported feeling less anxious and more confident on the open-book MC examination. The findings of both of these studies have implications for instructors deciding whether or not correction for guessing is appropriate, and for the advice to be given to students preparing for MC examinations

Examining the components of children's peer liking as antecedents of school adjustment

Children’s social interactions with their peers influence their psychosocial adjustment; consequently, the relationship between class-wide peer liking, same-gender peer liking, and school adjustment was explored in two age groups. Peer liking was analysed using the social relations model (SRM). In Study 1, 205 children (103 female and 102 male, Mage = 7.15, SD = 7 months) completed measures of peer liking and school adjustment, and teachers completed the Short-Form TRSSA. In Study 2, 197 children (98 female and 90 male, Mage = 9.87, SD = 5.9 months) completed measures of peer liking and school adjustment. Both studies yielded evidence of reciprocal liking and individual differences in the ratings of liking awarded to, and elicited from, both peer groups. Multigroup path analysis, with groups created according to gender, revealed that elements of liking predicted different aspects of school adjustment with some variation according to age and gender. Together, these findings suggest that the SRM can be used to examine peer liking and underscore the importance of children’s peers for school adjustment

Parental rearing style as a predictor of attachment and psychosocial adjustment during young adulthood

Parental rearing-styles are crucial for psychosocial adjustment both during childhood and adulthood. The current study examined whether: (a) parental rearing-styles predicted psychosocial adjustment in young-adulthood, (b) this relationship was mediated by attachment styles , and ( c ) gender differences occur in these relationships. Two hundred and forty (103 male and 132 female) university students completed measures assessing parental rearing-style , current attachment style, romantic relationship satisfaction, friendship quality, self-esteem, and social competence. Multigroup structural equation modelling, conducted separately by gender, revealed that parental rearing-style predicted psychosocial adjustment during young-adulthood. Further, there was also evidence of gender differences and that self-models and other-models of attachment mediated this relationship. Together, these findings reinforce the importance of perceived parental rearing-style for subsequent psychosocial adjustment

Analytical sun synchronous low-thrust manoeuvres

Article describes analytical sun synchronous low-thrust manoeuvres

Evolutionary neurocontrol: A novel method for low-thrust gravity-assist trajectory optimization

This article discusses evolutionary neurocontrol, a novel method for low-thrust gravity-assist trajectory optimization

An earth pole-sitter using hybrid propulsion

In this paper we investigate optimal pole-sitter orbits using hybrid solar sail and solar electric propulsion (SEP). A pole-sitter is a spacecraft that is constantly above one of the Earth's poles, by means of a continuous thrust. Optimal orbits, that minimize propellant mass consumption, are found both through a shape-based approach, and solving an optimal control problem, using a direct method based on pseudo-spectral techniques. Both the pure SEP case and the hybrid case are investigated and compared. It is found that the hybrid spacecraft allows consistent savings on propellant mass fraction. Finally, is it shown that for sufficiently long missions (more than 8 years), a hybrid spacecraft, based on mid-term technology, enables a consistent reduction in the launch mass for a given payload, with respect to a pure SEP spacecraft