Crude awakening: behind the surge in oil prices

The first few months of 2008 saw crude oil prices breach one barrier after another. They topped $100 a barrel for the first time on Feb. 19, then rose past$103.76 about two weeks later, surpassing the previous inflation-adjusted peak, established in 1980. In April and early May, oil prices pushed past $110 and then$120 a barrel and beyond. ; These milestones reflect a new era in oil markets. After the tumult of the early 1980s, prices remained relatively tame for two decades - in both real and nominal terms. This long stretch of stability ended in 2004, when oil topped $40 a barrel for the first time, then embarked on a steep climb that continued into this year. ; Modern economies run on oil, so it's important to understand how recent years - with their surging prices - differ from the preceding two decades. A good starting point is strong demand, which has pushed world oil markets close to capacity. New supplies haven't kept up with this demand, fueling expectations that oil markets will remain tight for the foreseeable future. A weakening dollar has put upward pressure on the price of a commodity that trades in the U.S. currency. And because a large share of oil production takes place in politically unstable regions, fears of supply disruptions loom over markets. ; These factors have fed the steady, sometimes swift rise of oil prices in recent years. Their persistence suggests the days of relatively cheap oil are over and the global economy faces a future of high energy prices. How they play out will shape oil markets - and determine prices - for years to come.Petroleum products - Prices ; Petroleum industry and trade ; Organization of Petroleum Exporting Countries ; Dollar, American

Impacts of International Migration and Remittances on Source Country Household Incomes in Small Island States: Fiji and Tonga

We use original 2005 survey data from Fiji and Tonga on remittances and household income to estimate the combined impact of migration and remittances on the composition of household income. A two-stage methodology is followed. A variable for the predicted number of migrants in each household is generated to control for selectivity in migration. This variable is then used in a 3SLS remittances and income equation system. In neither country do we observe significant impacts on agricultural cash income, but, in relation to other income sources, including subsistence agriculture, wages and non-agricultural business activities, some significant and different effects are found, both positive and negative. These findings suggest that the duration and intensity of remittance-driven migration, and the structure of economic activity within a community are important in understanding the influences of migration and remittances on household resource allocation and production decisions and on the community's economic transformation

Perenquén de Boettger – Tarentola boettgeri Steindachner, 1891

Reptiles - Orden Squamata - Familia Phyllodactylidae en la Enciclopedia Virtual de Vertebrados Españoles, http://www.vertebradosibericos.org/. Versiones anteriores: 15-03-2007; 29-05-2007; 30-07-2009A comprehensive review of the natural history of the Gran Canaria Gecko Tarentola boettgeri in Spain.Peer reviewe

Mind-Body Interventions to Reduce Coronavirus Pandemic Stress and Support Long-Term Recovery

The COVID-19 pandemic is causing global stress, trauma and mental illness that has already outpaced current healthcare resources. Inequalities in the burden of illness, death, and economic loss are exacerbated by inequalities in the provision of mental health care. Minority populations and indigenous peoples bear the brunt of both inequities. Ancient healing systems, such as Yoga, Qigong, and tribal practices, are a rich source of group healing methods that can be studied and optimized for prevention and recovery during current and future disasters. Modern research is shedding light on a myriad of mechanisms that underly the healing properties of voluntarily regulated breathing practices. We selectively review the neurophysiological effects of evidence-based, breath-centered mind-body practices and use Breath-Body-Mind as an example of a program that can safely and efficiently ameliorate psychological and somatic symptoms in child and adult survivors of mass disasters. Online virtual programs can be used to train thousands of practitioners to deliver evidence-based mind-body programs to people who are unlikely to receive individual mental health treatment for coronavirus-related anxiety, depression, and PTSD. For those who have access to individual mental health care, adjunctive mind-body therapies can hasten recovery and may reduce the need for medication. Voluntarily regulated breathing practices shift psychophysiological states from defense mode to the feeling of safety wherein we are best able to feel connect and relate to others with empathy, compassion, and cooperation. Knowing how to regulate our physiology in this direction is essential for stress resilience, trauma recovery, and community wellness

A mixed-motives model of private transfers with subjectively-assessed recipient need: Evidence from a poor, transfer-dependent economy

We extend the mixed-motives model of transfer derivatives developed by Cox et al (2004) introducing subjectively-assessed recipient need in place of an absolute income threshold at which the donor’s dominant motive switches from altruism to exchange. This refinement provides a theoretically justifiable threshold amenable to empirical measurement. We test the extended model with customized survey data from Tonga and find evidence consistent with Cox et al in support of altruism for households below the threshold, but, we also find a positive, exchange-motivated relationship for those above the threshold. We conclude that either crowding-out or crowding-in of private transfers can occur when the recipient’s welfare improves, depending on the household’s pre-transfer welfare level. This also has implications for the distributional impact of private transfers and could explain why poverty reduction can be accompanied by increased income inequality. JEL classification: D13; D64; F24; H55; I30; O15

Remittances and subjective welfare in a mixed-motives model: Evidence from Fiji

To analyze migrants’ remittance motivations we extend the mixed-motives model of private transfers developed by Cox et al (2004), incorporating subjectively-assessed recipient welfare. We test the model with customized survey data from Fiji, finding evidence supportive of altruism for households below a subjective threshold level, indicating that international migrants’ remittances provide important social protection coverage to households where formal social protection systems are lacking.Unlike previous studies, we also find a positive, exchange-motivated relationship for those above the threshold. The conventional linear model applied to the same sample uncovers neither relationship. We conclude that either crowding-out or crowding-in of remittances can occur when recipients’ welfare improves, depending on the household’s pre-transfer welfare level. The net effects of recipients’ welfare improvements on remittances, and the effects of remittances on poverty alleviation and income distribution, are consequently more complex and ambiguous than previous studies suggest