A cross-country investigation of macroeconomic asymmetries

Using a recently introduced nonparametric test, I investigate two important and distinct asymmetries in cross-country quarterly macroeconomic time series. Asymmetries are suggested by many theories (old and new), and those discovered aid in the selection of the appropriate nonlinear time series representation (useful, for example, in both forecasting and policy guidance). Further, asymmetries can help determine underlying economic mechanisms. The key findings: positive growth rate asymmetry is nearly ubiquitous in price level data (but is not caused by money growth asymmetry); and the pattern of asymmetries varies dramatically across countries (making widespread reliance on US data to study fluctuations worrisome).triples test; nonlinear time series; inflation; business cycles

An Analysis of the Green Knoll Salt Dome, located in the Southeast Green Canyon, Deep Water Gulf of Mexico

The western portion of the Mississippi/Atwater fold belt in the Gulf of Mexico contains what is known as The Green Knoll Salt Dome. The creation and growth of this salt diapir is punctuated by salt deposition, salt migration, sediment loading, and is linked to the “Frampton” fold belt. An indicator of these growth periods is exhibited in an angular unconformity (halo-kinetic sequence boundary) that flanks the diapir. This unconformity developed during the Miocene-Pliocene chronostratigraphic boundary. The “Redwood” (Green Canyon 1001) prospect was drilled after the discovery of middle Miocene sands containing hydrocarbons in the Mad Dog field (GC 826). The objective Miocene sand in the “Redwood” borehole was thin due to this angular unconformity causing the sand to pinch out. An evaluation of seismic and well log data provided by Bureau of Ocean Energy Management indicated that the unconformity might not provide the seal needed to trap hydrocarbons on the flank of the salt dome, or it did not allow enough sand to be deposited. A palinspastic structural restoration of the Green Knoll Salt Dome revealed that the growth of the Green Knoll and Frampton are connected. It is still possible that if a well were to be drilled further down dip from where The “Redwood” prospect was drilled, one may find a potential hydrocarbon reservoir