Monetary Policy and Large Crises in a Financial Accelerator Agent-Based Model

An accommodating monetary policy followed by a sudden increase of the short term interest rate often leads to a bubble burst and to an economic slowdown. Two examples are the Great Depression of 1929 and the Great Recession of 2008. Through the implementation of an Agent Based Model with a financial accelerator mechanism we are able to study the relationship between monetary policy and large scale crisis events. The main results can be summarized as follow: a) sudden and sharp increases of the policy rate can generate recessions; b) after a crisis, returning too soon and too quickly to a normal monetary policy regime can generate a "double dip" recession, while c) keeping the short term interest rate anchored to the zero lower bound in the short run can successfully avoid a further slowdown

Algonquin Wild : a naturalist's journey through the seasons

Published in 2018 to coincide with Algonquin Park's 125th anniversary, this full colour photographic testimonial is a celebration of the many plants and wildlife found within its protected borders. Algonquin Park was established in 1893 when the Ontario government acted upon a recommendation of the Royal Commission on Forest Reservation and National Parks in "reserving a portion of the ungranted Crown domain to be set apart as a Forest Reservation and National Park." From peatlands to coniferous forests, from spring peepers to beavers, from moose to osprey to yellow toadfax and spotted salamanders, the park teems with life all year round. Set upon the Canadian Shield, Algonquin Park bears the unusual distinction of having rivers flow north, south, east, and west from its domain

The beetle fauna of a mature spruce-sphagnum bog, Algonquin Park, Ontario; ecological implications of the species composition

The beetle fauna of a black spruce (Picea mariana) tamarack Larix laricina-Sphagnum bog in Alonquin Provincial Park, was sampled. The yield was 5734 beetles, in 30 families. Ptiliidae was the most numerically abundant and Staphylinidae was the most taxonomically diverse. Carabidae was second in diversity and third in numerical abundance. The abundance and ecological implications of some individual species are discussed. The faunal composition suggests that the bog is in a late-succession phase and that most of the beetle species are derived from adjacent habitats. -from Author

Assessing the effect of developed habitat on waterbird behaviour in an urban riparian system in Ottawa, Canada

Waterbird species were used to assess the consequences of developed habitat on wildlife behaviour in an urban riparian system along the Rideau River in Ottawa, Canada. Fourteen developed sites and 14 undeveloped sites were surveyed from October 2004 to February 2005. Each site was approached on foot and the first observed behaviour (i.e., fleeing, foraging, resting or swimming) of each individual was recorded. A total of 10,604 behavioural observations were made across 12 taxa. Overall, the fleeing behaviour was observed more often at undeveloped sites. Foraging, resting and swimming behaviours were observed more often at developed sites. We found that seven species fled more often at undeveloped sites, including hooded merganser. This species was also more abundant at undeveloped sites, suggesting that hooded merganser may be more sensitive to anthropogenic disturbance in urban environments than other species that are habituated toward humans. For sensitive species, undeveloped shoreline may serve as a refuge from human disturbance in urban ecosystems