BIODIESEL: WILL THERE BE ENOUGH?

Resource /Energy Economics and Policy,

Equity Volatility and Corporate Bond Yields

This paper explores the effect of equity volatility on corporate bond yields. Panel data for the late 1990's show that idiosyncratic firm-level volatility can explain as much cross-sectional variation in yields as can credit ratings. This finding, together with the upward trend in idiosyncratic equity volatility documented by Campbell, Lettau, Malkiel, and Xu (2001), helps to explain recent increases in corporate bond yields.

Predicting the Equity Premium Out of Sample: Can Anything Beat the Historical Average?

A number of variables are correlated with subsequent returns on the aggregate US stock market in the 20th Century. Some of these variables are stock market valuation ratios, others reflect patterns in corporate finance or the levels of shortand long-term interest rates. Amit Goyal and Ivo Welch (2004) have argued that in-sample correlations conceal a systematic failure of these variables out of sample: None are able to beat a simple forecast based on the historical average stock return. In this note we show that forecasting variables with significant forecasting power insample generally have a better out-of-sample performance than a forecast based on the historical average return, once sensible restrictions are imposed on the signs of coefficients and return forecasts. The out-of-sample predictive power is small, but we find that it is economically meaningful. We also show that a variable is quite likely to have poor out-of-sample performance for an extended period of time even when the variable genuinely predicts returns with a stable coefficient.

Equity Volatility and Corporate Bond Yields

This paper explores the effect of equity volatility on corporate bond yields. Panel data for the late 1990's show that idiosyncratic firm-level volatility can explain as much cross-sectional variation in yields as can credit ratings. This finding, together with the upward trend in idiosyncratic equity volatility documented by Campbell, Lettau, Malkiel, and Xu (2001), helps to explain recent increases in corporate bond yields.

Preliminary Report on 1977 Surveys and Excavations at Turtle Rock, Hervey Range, North Queensland

The report provides detailed site location analyses. It describes attempts to determine seasonal variability in relevant flora and fauna of the district, the search for sources of raw materials, exchange networks, and the analysis of rock paintings at and near the site

Settlement patterns on offshore islands in Northeastern Queensland

For the purposes of this study the offshore islands in northeastern Queensland are taken as those lying between Bowen and Cairns. As a matter of convenience these islands are divided into 'major' and 'minor' islands, the major ones being at least l0 km or more in their greatest dimension and the minor ones less than that. This classification allows for an apparent bimodal dispersion in the relative size of the islands

G92-1112 Lice Control on Cattle

Identifying and controlling lice on cattle both are covered here. Cattle lice may be the most underestimated livestock insect in terms of economic losses. The USDA estimates that U.S. livestock producers lose $125 million a year to cattle lice. Heavy louse populations cause lowered milk production, loss of flesh, stunted growth, general unthriftiness and anemia. Chronic or carrier cows may abort due to louse-induced anemia. During severe winters, louse-infested animals are more susceptible to respiratory diseases

G94-1204 Face Fly Control Guide

The face fly congregates about the eyes and nose of animals, causing annoyance and possible disease transmission. This NebGuide discusses face fly breeding and effective controls. The face fly closely resembles the house fly except it is slightly larger and darker. Other differentiating characteristics include: 1) the abdomen of the male face fly is orange and the female has an orange stripe; the abdomen of the house fly is white or light grey and 2) the compound eyes of male face flies nearly touch but are separated in the house flies. The persistence and habit of congregating about the eyes and nose of animals helps distinguish the face fly from the house fly in the field. House flies may congregate on the faces of cattle in confined feedlots or dairy pens. Face flies are pasture flies and are not found in feedlots

The Economics of Livestock Insects at the Feedlot and on the Range

The losses to livestock from insects are much more subtle than losses from animal diseases such as Red Nose or calf scours but real and costly nevertheless. The Federal Extension Service tries each year to get some estimate on the losses from insects on both crops and animals. These data are not too difficult to obtain for crops because the insect damage is quite visible and yield comparisons make it accurate data. The data on livestock losses from insects, however, are much more subject to guesswork. The estimates are that the livestock industry suffers around a 500 million dollar loss annually from insects. If we use this figure, you could divide it evenly and say each state would lose 10 million annually. The Great Plains states, of course, would lose by far more than 10 million because of the numbers of livestock produced in those states

EC84-1510 Insect Control Guide for Beef Cattle in Nebraska

This extension circular contains information on: precautions; insecticide formulations; and insecticide application methods (sprays, pour-ons, spot-ons, self-treatment devices, feed additives, dips, and injections). It contains a table on insecticides and the pests they target such as cattle grub, cattle lice, face fly, horn fly, mosquitoes, and stable fly. It also contains information in a table on the insecticides registered for use on beef cattle which covers the insecticide, percent active ingredient, method of application, dosage and the restrictions