GDP, share prices and share returns: Australian and New Zealand evidence

With the aim of predicting share market returns, many empirical studies have delved into how financial and macroeconomic variables can be used to forecast return variability. The aim of this paper is to examine whether the ratio of aggregate share price to GDP can capture the variation of future returns on the aggregate share market within Australia and New Zealand. Using quarterly and semi-annual data for the period 1991-2003 for New Zealand and 1982-2006 for Australia, this study finds that the ratio of share price to GDP indeed captures a significant amount of the variation of returns on the New Zealand share market as well as the Australian share market; however results for Australian data do vary, depending on the sample period. Results in this paper generally provide support for the theory behind previous papers, specifically that of Rangvid (2006)

Automatic structures for semigroup constructions

We survey results concerning automatic structures for semigroup constructions, providing references and describing the corresponding automatic structures. The constructions we consider are: free products, direct products, Rees matrix semigroups, Bruck-Reilly extensions and wreath products.Comment: 22 page

On the One-dimensional Stability of Viscous Strong Detonation Waves

Building on Evans function techniques developed to study the stability of viscous shocks, we examine the stability of viscous strong detonation wave solutions of the reacting Navier-Stokes equations. The primary result, following the work of Alexander, Gardner & Jones and Gardner & Zumbrun, is the calculation of a stability index whose sign determines a necessary condition for spectral stability. We show that for an ideal gas this index can be evaluated in the ZND limit of vanishing dissipative effects. Moreover, when the heat of reaction is sufficiently small, we prove that strong detonations are spectrally stable provided the underlying shock is stable. Finally, for completeness, the stability index calculations for the nonreacting Navier-Stokes equations are includedComment: 66 pages, 7 figure

Exact Solution for the Critical State in Thin Superconductor Strips with Field Dependent or Anisotropic Pinning

An exact analytical solution is given for the critical state problem in long thin superconductor strips in a perpendicular magnetic field, when the critical current density j_c(B) depends on the local induction B according to a simple three-parameter model. This model describes both isotropic superconductors with this j_c(B) dependence, but also superconductors with anisotropic pinning described by a dependence j_c(theta) where theta is the tilt angle of the flux lines away from the normal to the specimen plane

Theorising Disability: Beyond Common Sense

This article seeks to introduce the topic of disability to political theory via a discussion of some of the literature produced by disability theorists. The author argues that these more radical approaches conceptualise disability in ways that conflict with ‘common-sense’ notions of disability that tend to underpin political theoretical considerations of the topic. Furthermore, the author suggests that these more radical conceptualisations have profound implications for current debates on social justice, equality and citizenship that highlight the extent to which these notions are also currently underpinned by ‘common-sense’ notions of ‘normality’

Variational Approximations in a Path-Integral Description of Potential Scattering

Using a recent path integral representation for the T-matrix in nonrelativistic potential scattering we investigate new variational approximations in this framework. By means of the Feynman-Jensen variational principle and the most general ansatz quadratic in the velocity variables -- over which one has to integrate functionally -- we obtain variational equations which contain classical elements (trajectories) as well as quantum-mechanical ones (wave spreading).We analyse these equations and solve them numerically by iteration, a procedure best suited at high energy. The first correction to the variational result arising from a cumulant expansion is also evaluated. Comparison is made with exact partial-wave results for scattering from a Gaussian potential and better agreement is found at large scattering angles where the standard eikonal-type approximations fail.Comment: 35 pages, 3 figures, 6 tables, Latex with amsmath, amssymb; v2: 28 pages, EPJ style, misprints corrected, note added about correct treatment of complex Gaussian integrals with the theory of "pencils", matches published versio

Genetic determinants of thyroid function in children

OBJECTIVE:Genome-wide association studies in adults have identified 42 loci associated with thyroid stimulating hormone (TSH) and 21 loci associated with free thyroxine (FT4) concentrations. While biologically plausible, age-dependent effects have not been assessed. We aimed to study the association of previously identified genetic determinants of TSH and FT4 with TSH and FT4 concentrations in newborns and (pre)school children. METHODS: We selected participants from three population-based prospective cohorts with data on genetic variants and thyroid function: Generation R (N = 2169 children, mean age 6 years; N = 2388 neonates, the Netherlands), the Avon Longitudinal Study of Parents and Children (ALSPAC; N = 3382, age 7.5 years, United Kingdom), and the Brisbane Longitudinal Twin Study (BLTS; N = 1680, age 12.1 years, Australia). The association of single nucleotide polymorphisms (SNPs) with TSH and FT4 concentrations was studied with multivariable linear regression models. Weighted polygenic risk scores (PRSs) were defined to combine SNP effects.RESULTS:In childhood, 30/60 SNPs were associated with TSH and 11/31 SNPs with FT4 after multiple testing correction. The effect sizes for AADAT, GLIS3, TM4SF4, and VEGFA were notably larger than in adults. The TSH PRS explained 5.3%-8.4% of the variability in TSH concentrations; the FT4 PRS explained 1.5%-4.2% of the variability in FT4 concentrations. Five TSH SNPs and no FT4 SNPs were associated with thyroid function in neonates. CONCLUSIONS: The effects of many known thyroid function SNPs are already apparent in childhood and some might be notably larger in children as compared to adults. These findings provide new knowledge about genetic regulation of thyroid function in early life.</p

The limitations of whiteness and the boundaries of Englishness: second-generation Irish identifications and positionings in multiethnic Britain

The focus of this article is the second-generation Irish in England. It is based on data collected as part of the Irish 2 project, which examined processes of identity formation amongst the second-generation Irish population in England and Scotland. The article examines and maps identifications and positionings of second-generation Irish people and discusses how two hegemonic domains - Ireland and England - intersect in the lives of the children of Irish-born parents, with material and psychological consequences. Their positionings in multiethnic Britain are compared with those of ‘visible’ minority ethnic groups, and their narratives of belonging and non-belonging are analysed in terms of the limitations of whiteness and the boundaries of Englishness

Using Simulation to Assess the Opportunities of Dynamic Waste Collection

In this paper, we illustrate the use of discrete event simulation to evaluate how dynamic planning methodologies can be best applied for the collection of waste from underground containers. We present a case study that took place at the waste collection company Twente Milieu, located in The Netherlands. Even though the underground containers are already equipped with motion sensors, the planning of container emptying’s is still based on static cyclic schedules. It is expected that the use of a dynamic planning methodology, that employs sensor information, will result in a more efficient collection process with respect to customer satisfaction, profits, and CO2 emissions. In this research we use simulation to (i) evaluate the current planning methodology, (ii) evaluate various dynamic planning possibilities, (iii) quantify the benefits of switching to a dynamic collection process, and (iv) quantify the benefits of investing in fill‐level sensors. After simulating all scenarios, we conclude that major improvements can be achieved, both with respect to logistical costs as well as customer satisfaction

Granular Solid Hydrodynamics

Granular elasticity, an elasticity theory useful for calculating static stress distribution in granular media, is generalized to the dynamic case by including the plastic contribution of the strain. A complete hydrodynamic theory is derived based on the hypothesis that granular medium turns transiently elastic when deformed. This theory includes both the true and the granular temperatures, and employs a free energy expression that encapsulates a full jamming phase diagram, in the space spanned by pressure, shear stress, density and granular temperature. For the special case of stationary granular temperatures, the derived hydrodynamic theory reduces to {\em hypoplasticity}, a state-of-the-art engineering model.Comment: 42 pages 3 fi