Aggregate business fixed investment

An aggregate business fixed investment error correction model (ECM) is estimated with Icelandic data. The user cost of capital increased considerably in the 1980s as capital markets in Iceland were liberalised and interest rates were adjusting. From the 1990s and onwards, however, the user cost has been decreasing steadily. And the relative price of business investment has been downward trending since the 1980s. A high Q ratio over the period portrays an increased demand for capital. The first order condition of capital for profits which is derived for a constant elasticity of substitution production function has minor long-run role for the user cost. Investment and capital, and investment, value added and the user cost do, however, give expected estimates of cointegration coefficients. In the short-run dynamics of the ECM, gearing, Q and profit ratios move with investment. Official figures show an unprecedented capital decrease in the 1990s in Iceland. The possibility of mismeasured technology investment is explored briefly.

Comprehensive analysis of earthquake source spectra in southern California

We compute and analyze P wave spectra from earthquakes in southern California between 1989 and 2001 using a method that isolates source-, receiver-, and path-dependent terms. We correct observed source spectra for attenuation using both fixed and spatially varying empirical Green's function methods. Estimated Brune-type stress drops for over 60,000 M_L = 1.5 to 3.1 earthquakes range from 0.2 to 20 MPa with no dependence on moment or local b value. Median computed stress drop increases with depth in the upper crust, from about 0.6 MPa at the surface to about 2.2 MPa at 8 km, where it levels off and remains nearly constant in the midcrust down to about 20 km. However, the results at shallow depths could also be explained as reduced rupture velocities near the surface rather than a change in stress drop. Spatially coherent variations in median stress drop are observed, with generally low values for the Imperial Valley and Northridge aftershocks and higher values for the eastern Transverse ranges and the north end of the San Jacinto fault. We find no correlation between observed stress drop and distance from the San Andreas and other major faults. Significant along-strike variations in stress drop exist for aftershocks of the 1992 Landers earthquake, which may correlate with differences in main shock slip

Maternal diet in early and late pregnancy in relation to weight gain

To access Publisher full text version of this article. Please click on the hyperlink in Additional Links fieldOBJECTIVE: To identify dietary factors related to the risk of gaining weight outside recommendations for pregnancy weight gain and birth outcome.Design:An observational study with free-living conditions.Subjects:Four hundred and ninety five healthy pregnant Icelandic women. METHODS: The dietary intake of the women was estimated with a semiquantitative food frequency questionnaire covering food intake together with lifestyle factors for the previous 3 months. Questionnaires were filled out at between 11 and 15 weeks and between 34 and 37 weeks gestation. Comparison of birth outcome between the three weight gain groups was made with ANOVA and Bonferroni post hoc tests. Dietary factors related to at least optimal and excessive weight gain during pregnancy were represented with logistic regression controlling for potential confounding. RESULTS: Of the women, 26% gained suboptimal and 34% excessive weight during pregnancy. Women in late pregnancy with at least optimal, compared with women with suboptimal, weight gain were eating more (OR = 3.32, confidence interval (CI)=1.81-6.09, P < 0.001) and drinking more milk (OR = 3.10, CI = 1.57-6.13, P = 0.001). The same dietary factors were related to excessive, compared with optimal, weight gain. Furthermore, eating more sweets early in pregnancy increased the risk of gaining excessive weight (OR=2.52, CI=1.10-5.77, P=0.029). Women with a body mass index of 25.0-29.9 kg/m(2) before pregnancy were most likely to gain excessive weight (OR = 7.37, CI 4.13-13.14, P < 0.001). Women gaining suboptimal weight gave birth to lighter children (P < 0.001) and had shorter gestation (P = 0.008) than women gaining optimal or excessive weight. CONCLUSION: Women who are overweight before pregnancy should get special attention regarding lifestyle modifications affecting consequent weight gain during pregnancy. They are most likely to gain excessive weight and therefore most likely to suffer pregnancy and delivery complications and struggle with increasing overweight and obesity after giving birth

QMM A Quarterly Macroeconomic Model of the Icelandic Economy

This paper documents and describes the new Quarterly Macroeconomi Model of the Central Bank of Iceland (qmm). qmm and the underlying quar terly database have been under construction since 2001 at the Research and Forecasting Division of the Economics Department at the Bank. qmm is used by the Bank for forecasting and various policy simulations and therefore play a key role as an organisational framework for viewing the medium-term futur when formulating monetary policy at the Bank. This paper is mainly focused on the short and medium-term properties of qmm. Analysis of the steady state properties of the model are currently under way and will be reported in a separate paper in the near future.

California Integrated Seismic Network (CISN) Local Magnitude Determination in California and Vicinity

Determining local magnitude (M_L) in a manner that is uniform and internally consistent for earthquakes throughout California and the vicinity is an important component of the California Integrated Seismic Network (CISN). We present a new local magnitude attenuation function and corresponding station adjustments that are valid throughout California. The new attenuation function is an analytic function of the radial hypocentral distance between 1 and 500 km. Associated station adjustments are also available for 1185 horizontal seismometer and accelerometer channels from five seismic networks operating in California. The new attenuation function and adjustments provide several advantages to CISN. They allow a more robust M_L computation, the M_Ls are more consistent between northern and southern California than they have been in the past, and because adjustments are now available for more station-network-channel-location codes (SNCLs), M_Ls can be computed for small earthquakes in more locations than was previously possible. In addition to describing our method for calibrating the new CISN M_L, we also present a tool for adding adjustments for new or upgraded stations

Superficial simplicity of the 2010 El Mayor–Cucapah earthquake of Baja California in Mexico

The geometry of faults is usually thought to be more complicated at the surface than at depth and to control the initiation, propagation and arrest of seismic ruptures. The fault system that runs from southern California into Mexico is a simple strike-slip boundary: the west side of California and Mexico moves northwards with respect to the east. However, the M_w 7.2 2010 El Mayor–Cucapah earthquake on this fault system produced a pattern of seismic waves that indicates a far more complex source than slip on a planar strike-slip fault. Here we use geodetic, remote-sensing and seismological data to reconstruct the fault geometry and history of slip during this earthquake. We find that the earthquake produced a straight 120-km-long fault trace that cut through the Cucapah mountain range and across the Colorado River delta. However, at depth, the fault is made up of two different segments connected by a small extensional fault. Both segments strike N130° E, but dip in opposite directions. The earthquake was initiated on the connecting extensional fault and 15 s later ruptured the two main segments with dominantly strike-slip motion. We show that complexities in the fault geometry at depth explain well the complex pattern of radiated seismic waves. We conclude that the location and detailed characteristics of the earthquake could not have been anticipated on the basis of observations of surface geology alone

Exercise training results in depot-specific adaptations to adipose tissue mitochondrial function

We assessed differences in mitochondrial function in gluteal (gSAT) and abdominal subcutaneous adipose tissue (aSAT) at baseline and in response to 12-weeks of exercise training; and examined depot-specific associations with body fat distribution and insulin sensitivity (S-I). Obese, black South African women (n = 45) were randomized into exercise (n = 23) or control (n = 22) groups. Exercise group completed 12-weeks of aerobic and resistance training (n = 20), while the control group (n = 15) continued usual behaviours. Mitochondrial function (high-resolution respirometry and fluorometry) in gSAT and aSAT, SI (frequently sampled intravenous glucose tolerance test), body composition (dual-energy X-ray absorptiometry), and ectopic fat (MRI) were assessed pre- and post-intervention. At baseline, gSAT had higher mitochondrial respiratory capacity and hydrogen peroxide (H2O2) production than aSAT (p &lt; 0.05). Higher gSAT respiration was associated with higher gynoid fat (p &lt; 0.05). Higher gSAT H2O2 production and lower aSAT mitochondrial respiration were independently associated with lower SI (p &lt; 0.05). In response to training, S-I improved and gynoid fat decreased (p &lt; 0.05), while H2O2 production reduced in both depots, and mtDNA decreased in gSAT (p &lt; 0.05). Mitochondrial respiration increased in aSAT and correlated with a decrease in body fat and an increase in soleus and hepatic fat content (p &lt; 0.05). This study highlights the importance of understanding the differences in mitochondrial function in multiple SAT depots when investigating the pathophysiology of insulin resistance and associated risk factors such as body fat distribution and ectopic lipid deposition. Furthermore, we highlight the benefits of exercise training in stimulating positive adaptations in mitochondrial function in gluteal and abdominal SAT depots