Price Stabilization in the Taiwan Hog and Broiler Industries: Evidence from a STAR Approach

The paper examines the effectiveness of the price stabilization mechanism for the broiler and poultry industry in Taiwan during the period 1999 to 2008. After presenting some background information on the domestic marketing system and price stabilization mechanisms for the broiler and pork industry in Taiwan, the paper discusses the smooth transition autoregressive (STAR) methodology. Monthly hog and broiler price data from 1999 to 2008 at farm, import and retail levels are analyzed using the nonlinear, non-asymmetric logistic STAR model in order to determine price transmission structure. A price threshold parameter is used so that price transmission levels can vary, thereby allowing an examination of the efficacy with which the hog and broiler price stabilization mechanisms take effect.Broiler industry, Pork industry, Price stabilization, Domestic marketing system, Smooth transition autoregressive (STAR) methodology

Modelling the Asymmetric Volatility in Hog Prices in Taiwan: The Impact of Joining the WTO

The hog industry, where prices are determined according to an auction system, is of vital importance to the agricultural industry in Taiwan by providing significant production and employment. In particular, there were significant impacts on daily hog prices in the periods before, during and after joining the WTO, which we will refer to as periods of anticipation, adjustment and settlement. The purpose of the paper is to model the growth rates and volatility in daily hog prices in Taiwan from 23 March 1999 to 30 June 2007, which enables an analysis of the effects of joining the WTO. The paper provides a novel application of financial volatility models to agricultural finance. The empirical results have significant implications for risk management and policy considerations in the agricultural industry in Taiwan, especially when significant structural changes, such as joining the WTO, are concerned. The three sub-samples relating to the period before, during and after joining the WTO display significantly different volatility persistence, namely symmetry, asymmetry but not leverage, and leverage, respectively, whereby negative shocks increase volatility but positive shocks of a similar magnitude decrease volatility.Hog prices, joining the WTO, conditional volatility models, asymmetry, leverage, moment conditions.

Modelling the Asymmetric Volatility in Hog Prices in Taiwan: The Impact of Joining the WTO

Prices in the hog industry in Taiwan are determined according to an auction system. There are significant differences in hog prices before, during and after joining the World Trade Organization (WTO). The paper models growth rates and volatility in daily hog prices in Taiwan from 23 March 1999 to 30 June 2007, which enables an analysis of the effects of joining the WTO. The empirical results have significant implications for risk management and policy in the agricultural industry. The three sub-samples for the periods before, during and after joining the WTO display significantly different volatility persistence of symmetry, asymmetry and leverage, respectively.Hog prices; joining the WTO; conditional volatility models; asymmetry; leverage; moment conditions

"Modelling the Asymmetric Volatility in Hog Prices in Taiwan: The Impact of Joining the WTO"

The hog industry, where prices are determined according to an auction system, is of vital importance to the agricultural industry in Taiwan by providing significant production and employment. In particular, there were significant impacts on daily hog prices in the periods before, during and after joining the WTO, which we will refer to as periods of anticipation, adjustment and settlement. The purpose of the paper is to model the growth rates and volatility in daily hog prices in Taiwan from 23 March 1999 to 30 June 2007, which enables an analysis of the effects of joining the WTO. The paper provides a novel application of financial volatility models to agricultural finance. The empirical results have significant implications for risk management and policy considerations in the agricultural industry in Taiwan, especially when significant structural changes, such as joining the WTO, are concerned. The three sub-samples relating to the period before, during and after joining the WTO display significantly different volatility persistence, namely symmetry, asymmetry but not leverage, and leverage, respectively, whereby negative shocks increase volatility but positive shocks of a similar magnitude decrease volatility.

Variable Classifications of Glycemic Index Determined by Glucose Meters

The study evaluated and compared the differences of glucose responses, incremental area under curve (IAUC), glycemic index (GI) and the classification of GI values between measured by biochemical analyzer (Fuji automatic biochemistry analyzer (FAA)) and three glucose meters: Accue Chek Advantage (AGM), BREEZE 2 (BGM), and Optimum Xceed (OGM). Ten healthy subjects were recruited for the study. The results showed OGM yield highest postprandial glucose responses of 119.6 ± 1.5, followed by FAA, 118.4 ± 1.2, BGM, 117.4 ± 1.4 and AGM, 112.6 ± 1.3 mg/dl respectively. FAA reached highest mean IAUC of 4156 ± 208 mg × min/dl, followed by OGM (3835 ± 270 mg × min/dl), BGM (3730 ± 241 mg × min/dl) and AGM (3394 ± 253 mg × min/dl). Among four methods, OGM produced highest mean GI value than FAA (87 ± 5) than FAA, followed by BGM and AGM (77 ± 1, 68 ± 4 and 63 ± 5, p<0.05). The results suggested that the AGM, BGM and OGM are more variable methods to determine IAUC, GI and rank GI value of food than FAA. The present result does not necessarily apply to other glucose meters. The performance of glucose meter to determine GI value of food should be evaluated and calibrated before use

A High Efficiency Aluminum-Ion Battery Using an AlCl3-Urea Ionic Liquid Analogue Electrolyte

In recent years, impressive advances in harvesting renewable energy have led to pressing demand for the complimentary energy storage technology. Here, a high coulombic efficiency (~ 99.7%) Al battery is developed using earth-abundant aluminum as the anode, graphite as the cathode, and a cheap ionic liquid analogue electrolyte made from a mixture of AlCl3 and urea in 1.3 : 1 molar ratio. The battery displays discharge voltage plateaus around 1.9 V and 1.5 V (average discharge = 1.73 V) and yielded a specific cathode capacity of ~73 mAh g-1 at a current density of 100 mA g-1 (~ 1.4 C). High coulombic efficiency over a range of charge-discharge rates and stability over ~150-200 cycles was easily demonstrated. In-situ Raman spectroscopy clearly showed chloroaluminate anion intercalation/deintercalation of graphite in the cathode side during charge/discharge and suggested the formation of a stage 2 graphite intercalation compound when fully charged. Raman spectroscopy and nuclear magnetic resonance suggested the existence of AlCl4-, Al2Cl7- anions, and [AlCl2. (urea)n]+ cations in the urea/AlCl3 electrolyte when an excess of AlCl3 was present. Aluminum deposition therefore proceeded through two pathways, one involving Al2Cl7- anions and the other involving [AlCl2.(urea)n]+ cations. This battery is a promising prospect for a future high performance, low cost energy storage device

Effects of Light Quality on the Chlorophyll Degradation Pathway in Rice Seedling Leaves

The objective of this study was to investigate the dynamics of chlorophyll (Chl), biosynthetic intermediates (protoporphyrin IX, magnesium protoporphyrin IX, and protochlorophyllide), degradation intermediates [chlorophyllide (Chlide), pheophytin (Phe), and pheophorbide (Pho)], and carotenoids (Car) in leaves of rice seedlings. Two rice varieties, 'Taichung Shen 10' ('TCS10') and 'IR1552', were grown under different light quality conditions controlled by light emitting diodes (LED). Lighting treatments for rice seedlings were included by red (R), blue (B), green (G), and red + blue (RB), with fluorescent lighting (FL) as the control and photosynthetic photon flux density being set at 105 µmol m-2 s-1. The results show that lower levels of Chl and Car in leaves were detected under G lighting, and light quality did not mediate porphyrins in biosynthetic pathways. Rice seedling leaves took Chl→Phe→Pho and Chl→Chlide→Pho as the major and minor degradation routes, respectively. Furthermore, higher Phe/Chlide ratios were observed under G and FL lighting conditions, indicating that green-enriched environments can up-regulate the minor degradation route in leaves