Common trends, cointegration and competitive price behaviour

This article describes a characterisation of competitive market behaviour using the concepts of cointegration analysis. It requires all (n) rms to set prices to follow a single stochastic trend (equivalently the vector of n prices should have cointegrating rank n - 1). This implies that, in the long run, prices are driven by the shocks that impact on all companies, ruling out the possibility that the price set by any one rm is weakly exogenous

Arbitrage, market definition and monitoring a time series approach

This article considers the application to regional price data of time series methods to test stationarity, multivariate cointegration and exogeneity. The discovery of stationary price differentials in a bivariate setting implies that the series are rendered stationary by capturing a common trend and we observe through this mechanism long-run arbitrage. This is indicative of a broader market definition and efficiency. The problem is considered in relation to more than 700 weekly data points on gasoline prices for three regions of the US and similarly calibrated simulated series. The discovery of a single common trend is consistent with competitive pricing and a broad market definition, but the finding of a single weakly exogenous variable affects this conclusion

Long-run equilibrium price targetting

This is the post-print version of the Article. The official published version can be accessed from the link below - Copyright @ QASS 2011This article describes a characterisation of competitive market behaviour using the concepts of cointegration analysis. It requires all (n) firms to set prices to follow a single stochastic trend (equivalently the vector of n prices should relate to cointegrating rank n- 1). This implies that, in the long run, prices are driven by the shocks that impact on all companies, ruling out the possibility that the price set by any one firm is weakly exogenous for the set of cointegrating vectors

A critique of avian CHD-based molecular sexing protocols illustrated by a Z-chromosome polymorphism detected in auklets

The sexes of non-ratite birds can be determined routinely by PCR amplification of the CHD-Z and CHD-W genes. CHD -based molecular sexing of four species of auklets revealed the presence of a polymorphism in the Z chromosome. No deviation from a 1:1 sex ratio was observed among the chicks, though the analyses were of limited power. Polymorphism in the CHD-Z gene has not been reported previously in any bird, but if undetected it could lead to the incorrect assignment of sex. We discuss the potential difficulties caused by a polymorphism such as that identified in auklets and the merits of alternative CHD -based sexing protocols and primers

An empirical investigation of the relationship between the real economy and stock returns for the United States

This is the post-print version of the final paper published in the Journal of Policy Modeling. The published article is available from the link below. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. Copyright @ 2009 Elsevier B.V.US asset prices are modelled in the short- and long-run with the use of a seemingly unrelated system using monthly data over the time period, 1983–2004. Once the shocks of 1987, 1997 and post-“9·11” have been accounted for, then volatility only affects the consumption and inflation equations. In the long run excess returns and inflation are driven by consumption growth. Money growth impacts excess returns and inflation via consumption. Income is super exogenous implying that policy can be made conditional on this variable and that in the long run investors are primarily concerned with income growth

Money demand instability and real exchange rate persistence in the monetary model of USD-JPY exchange rate

This article has been made available through the Brunel Open Access Publishing Fund.This paper proposes a hybrid monetary model of the dollar-yen exchange rate that takes into account factors affecting the conventional monetary model's building blocks. In particular, the hybrid monetary model is based on the incorporation of real stock prices to enhance money demand stability and also, productivity differential, relative government spending, and real oil price to explain real exchange rate persistence. By using quarterly data over a period of high international capital mobility and volatility (1980:01-2009:04), the results show that the proposed hybrid model provides a coherent long-run relation to explain the dollar-yen exchange rate as opposed to the conventional monetary model. © 2014

Assessing the Rock Island Community Garden Program

As part of Sustainable Working Landscapes Initiative with Augustana College’s Upper Mississippi Center, students in Urban Design and Environmental Justice (Geography 325) conducted research on Rock Island’s community garden program this fall. The City of Rock Island currently has 21 vacant-lot community gardens and plans to expand the program to 24 gardens in 2019. The purpose of this project was to develop an initial assessment of the community garden program and provide general information about the benefits of urban gardens. Students worked with Dr. Strunk to conduct a survey with current garden program participants and tested soil from 14 gardens for lead contamination. Students collected 3 soil samples from 3 different sections of most gardens (north, middle, south sections). The soil tests showed that sections of 5 different gardens (#3N, #10M, #11N, #11M, #11S, #15N, and #21)have elevated lead levels above the EPA standard of 400 parts per million. The remaining 8 gardens will be tested for soil lead contamination in early 2019. Students also created informational resources about the health benefits of gardens, conducted research about features of successful after-school gardening programs to be discussed with Rock Island-Milan school officials, and developed a proposal for a recipe book that can be used to raise awareness about the diversity of cultural practices in gardens and raise money for small-scale garden grants. Finally, students developed a proposal for a rainwater harvesting system and created designs for a sign for Rock Island Urban Farms and a future community garden site on city property

Forging a school-university learning partnership from a teacher education perspective

This paper describes an innovative cross-institutional learning partnership that was designed to foster the learning of both Pre-Service Teachers (PSTs) and students and teachers from a local regional Secondary College. Around 150 Grade Nine (13-14 year old) students took part in a purpose-designed activity day at the university that was organised and conducted by 34 second year PSTs as part of their teacher education program. This project was designed as an authentic teaching experience for PSTs that would enable them to translate theory from their teacher education course into teaching practice. At the same time the secondary students were offered a range of learning experiences informed by school-derived curriculum. These specifically focused activities contributed to the students’ school based learning programs whilst also encouraging them to think of university as a future option. In this paper reflections, utilizing a self-study methodology, are provided by the lecturers who developed and implemented the program. The lecturers describe and discuss what they observed about the learning of the PSTs. Many of the PSTs indicated strongly that they were able to engage in a scaffolded, authentic teaching experience as preparation for their initial school placements. Overall, the evidence suggests that the initiative offered a powerful learning experience that enabled PSTs to connect theory with teaching practice

Quiz night review session – A fun way to increase engagement and enhance learning in large classes

Exam time is a stressful experience for university students, particularly for those in first year who may be yet to master revision strategies. For several groups of students including non-school leavers and those with limited science background this time is especially difficult as they have not had many opportunities to develop this skill.With this in mind we have attempted to produce a revision activity that is appealing to students from a variety of backgrounds, engages students in a fun and novel way, is relevant, non-compulsory and non-threatening