THE VALUE OF ENSO INFORMATION TO AGRICULTURE: CONSIDERATION OF EVENT STRENGTH AND TRADE

The agricultural value of El Nino-Southern Oscillation (ENSO) phase knowledge is measured in a value-of-information framework using economic models. We examine the value of considering the full distribution of ENSO phase strength effects as opposed to average ENSO phase strength effects, as well as the implications of considering ENSO impacts on the rest of the world (ROW). A stochastic U.S. agricultural sector model linked with a global trade model is used to assess the value of ENSO phase information. When the full distribution of ENSO phase strength is considered, the value of phase information increases twofold with respect to the average ENSO effects.Agribusiness,

An Empirical Analysis of the Shanghai and Shenzen Limit Order Books

This paper investigates the market microstructure of the Shanghai and Shenzhen Stock Ex- changes. The two major Chinese stock markets are pure order-driven trading mechanisms without market makers, and we analyze empirically both limit order books. We begin our empirical model- ing using the vector autoregressive model of Hasbrouck and extend the model to incorporate other information in the limit order book. We also study the market impact on A shares, B shares and H shares, and analyze how the market impact of stocks varies cross sectionally with market capital- ization, tick frequencies, and turnover. Furthermore, we distinguish the market impacts of small, average and block trades, and conclude that the market impacts of small trades are signi?cantly lower than those of other trades.limit order book; Chinese stock market; microstructure; VAR model

Hurricanes and Possible Intensity Increases: Effects on and Reactions from U.S. Agriculture

Hurricanes have caused substantial damage in parts of the U.S. Damages are increasing, perhaps as part of a natural cycle or perhaps in part related to global warming. This paper examines the economic damages that hurricanes cause to U.S. agriculture, estimates the increased damage from an increase in hurricane frequency/intensity, and examines the way that sectoral reactions reduce damages. The simulation results show that hurricanes and associated adjustments cause widespread damage and redistribute agricultural welfare. We find that crop mix shifts of vulnerable crops from stricken to nonstricken regions significantly mitigate hurricane damages.crop mix, hurricane intensity, stochastic agricultural sector model, Agribusiness, Crop Production/Industries, Production Economics, Q24, Q54, R14,

SPATIAL EQUILIBRIUM MODELING WITH IMPERFECTLY COMPETITIVE MARKETS: AN APPLICATION TO RICE TRADE

A general imperfect competition spatial equilibrium model is developed to estimate the trading country behaviors in the international rice market using a conjectural variation approach. Such a model allows the possibility of an imperfect competitive market to exit on both the export and import sides without any assumption of market structure. The empirical results show that the major exporting countries, Thailand, Vietnam, and the U.S. acted as high degree of imperfect competitors(or oligopolies) while Pakistan acted as a lower degree of imperfect competitor. The importing countries such as Japan, the Philippines, Europe, Brazil, and the former USSR behaved as high degree of imperfect competitors (or oligopsonies). The empirical results also show that there are welfare gains of $1,492 million when all trading countries comply with the free trade agreement.Marketing,

Re-evaluation of the surface ruptures of the November 1951 earthquake series in eastern Taiwan, and its neotectonic implications

The earthquakes of November 1951 constitute the most destructive seismic episode in the recorded history of the Longitudinal Valley, eastern Taiwan. However, information about their source parameters is sparse. To understand the relationship between the 1951 ruptures and new interpretations of the regional neotectonic architecture of the Longitudinal Valley, we re-evaluated the November 1951 ruptures by analyzing old documents, reports and photographs, and by interviewing local residents who experienced the earthquake. As a result, we have revised significantly the rupture map previously published. We divide the surface ruptures from south to north into the Chihshang, Yuli, and Rueisuei sections. The first shock of the 1951 series probably resulted from the Chihshang rupture, and the second shock probably resulted from the Yuli and Rueisuei ruptures. The lengths of these ruptures indicate that the two shocks had similar magnitudes. The Chihshang and Rueisuei ruptures are along segments of the Longitudinal Valley fault, a left-lateral oblique fault along which the Coastal Range thrusts westward over the Longitudinal Valley. The Yuli rupture, on the other hand, appears to be part of a separate, left-lateral strike-slip Yuli fault, which traverses the middle of the Longitudinal Valley. The complex behavior of these structures and interaction between them are important in understanding the future seismic hazard of the area

Leakage and Comparative Advantage Implications of Agricultural Participation in Greenhouse Gas Emission Mitigation

The world is moving toward efforts to reduce greenhouse gas emissions. Net emission reduction efforts may involve the agricultural sector through options such as planting of trees, crop and livestock management changes, and production of biofuels. However, such options can be competitive with domestic food production. In a free trade arena, reduced domestic food production could stimulate increased production and exports in other countries, which are not pursuing similar mitigative courses of action. As a consequence, net emission reductions in implementing countries may be offset by activities stimulated in other countries. In addition producers in countries where agriculture is subject to greenhouse gas mitigation have expressed concern about their competitive position to countries which are not trying to reduce net emissions.Emission Leakage, Agricultural Sector Model, Greenhouse Gas Policy, Mitigation, Carbon Sequestration

An Investigation of Factors Influencing Color Tolerances

Tolerance is the permissible difference between sample measurement and the aim and is used to determine the acceptability of a product. A well-known example is the color tolerance of printed solids in ISO 12647-2. The first edition of ISO 12647-2 was published in 1996. It has gone through two major revisions. In the 2004 revision, the magnitude of the color tolerance (∆E*ab) was changed. In the 2013 revision, a new color tolerance metric (∆E00) was included. No justification was found regarding the ISO 12647-2 revisions. In this research, %Pass is used to study the effect of color tolerance in a database. Recognizing that tolerance is a man-made decision, if the tolerance is too tight, the %Pass will be low; and vice versa. This research also examines the use of the equal %Pass to determine the tolerance equivalency between the old (∆E*ab) and the new (∆E00) parameter. The results show that there is no convergence between ∆E*ab and ∆E00 when using the boundary data approach. However, there is an equivalent tolerance between ∆E*ab and ∆E00 using the equal %Pass approach. The current ISO 12647-2 standard, using 3.5 ∆E00 for CMY and 5 ∆E00 for black, resulted in unequal %Pass. By using the equal %Pass approach, the black solid tolerance does not need to be different than cyan and magenta solids, but the yellow solid tolerance can be smaller than cyan and magenta solids

The Effect of OBA in Paper and Illumination Level on Perceptibility of Printed Colors

A research was conducted to study the perceptibility of color difference of color pairs, caused by OBA differences in paper substrates, and its relationship with quantitative measurement metrics. Based on the psychometric experiments conducted, the results show the utilization of the visual difference index (VDI), from 0 (no difference) to 3 (noticeable difference), to rate 27 color pairs with each pair prepared by the same colorants but different OBA amount in the substrates. The findings indicate that (a) printed colors are affected by the presence of OBA from no difference to noticeable difference, (b) ∆E00 has a stronger linear correlation with visual color difference than ∆E*ab does, (c) there is no significant association between illumination levels and visual color difference. This research introduces the metric, OBA, per ISO 15397 (2013), as the CIE-b* difference in color pairs under M1 and M2 conditions. It also defines ∆OBA as the OBA difference between any color pairs, including substrates. The results show that there is linear correlation (1) between visual difference and ∆E00 which describes the color difference, and (2) between visual difference and ∆OBA which describes the criticalness of M1 lighting to realize the color match

Resilience among Single Adult Female Refugees in Hamilton, Ontario

Single adult females remain among the most vulnerable of all refugee populations. However, there is a lack of research on supporting and empowering these women. There is a new interest in identifying factors that reinforce resilience and, ultimately, adjustment to the host country. In line with the current work on resilience, semi-structured, in-depth, personal interviews with single refugee women were conducted in the city of Hamilton, Ontario. A grounded theory approach revealed participants’ perspectives on the support received from religious or cultural communities, non-governmental organizations, and the government in terms of their perceived contribution to adaptation. Both informal and formal support, along with individual characteristics, were found to be crucial for reinforcing resilience among these refugees, reflective of a collective resilience model that moves beyond individual and community resilience. Future research should aim to investigate the perspectives of those who did not receive social support from shelters as well as to assess the efficacy of current refugee support services.Les femmes adultes célibataires demeurent parmi les plus vulnérables des groupes de réfugiés. On remarque cependant un manque de recherches sur le soutien et l’autonomisation de ces femmes. Il y a par ailleurs un nouvel intérêt pour l’identification des facteurs augmentant la résilience et par conséquent la capacité d’ajustement au pays d’accueil. En lien avec ces travaux sur la résilience, des entrevues individuelles approfondies et semi-structurées avec des femmes réfugiées célibataires ont été eff ectuées à Hamilton en Ontario. L’approche basée sur la théorie a mis en lumière leur point de vue sur le soutien qu’elles reçoivent des communautés culturelles et religieuses et des organisations gouvernementales et non-gouvernementales, plus particulièrement au niveau de leur adaptation. Le soutien formel et informel, en plus des caractéristiques personnelles, s’avèrent être des facteurs importants pour l’amélioration de leur résilience, illustrant un modèle de résilience qui va au-delà de la résilience individuelle et des communautés. Les recherches à venir devraient examiner la perception des réfugiés qui n’ont pas reçu de soutien social et évaluer l’effi cacité des services actuels de soutien aux réfugiés