Factors behind the convergence of economic performance across U.S. states

The rolling recessions of the 1970s and 1980s were characterized by industry and region specific shocks that led to large dispersions in the economic performance of regions across the U.S. The 1970s were primarily impacted by sharply rising energy prices that hit the manufacturing states hard while stimulating growth in the energy states.> ; The 1980s began with declines in the Farm Belt, followed by declines in the Energy Belt, the Rust (manufacturing) Belt, and finally, due to declines in defense spending, a decline in the Gun Belt. Simple measures of regional dispersion such as the population-weighted variance of job growth across states show that the economic dispersion was historically high during these two decades.> ; The 1990s saw a continuous decline in regional economic dispersion and the 2000s has seen historically low levels of dispersion. Perhaps the biggest surprise this decade has been the low levels of dispersion of economic performance over the past several years given the significant energy price shocks and the depth of the national economic recession. In this paper, we look at the likely causes of economic dispersion across regions and test for the major influences both in the rise of dispersion in the 1970s and 1980s and the subsequent fall in the 1990s and 2000s. Major factors that we test include state industrial structure, oil price shocks and bank integration.Regional economics ; Industries ; Economic development

A tectonostratigraphic scheme for glacial deposits in northern East Anglia, UK

East Anglia possesses a spectacular archive of lowland glaciation that spans the Middle and Late Pleistocene and links the region to ice masses that repeatedly glaciated central and eastern Britain and the North Sea region. Attempts to develop a stratigraphic framework for this archive have typically utilised conventional lithostratigraphic approaches and a range of different nomenclatures and schemes have been presented over the years. However, these lithostratigraphic approaches contain a number of inherent flaws that limit their applicability. Firstly, the process of glaciation is driven largely by ‘tectonic’ rather than ‘sedimentary’ mechanisms such that glacigenic sequences do not always obey the Law of Superposition. Secondly, glacigenic units do not always possess distinct and spatially-extensive lithostratigraphic characteristics because glaciers can flow-over, erode and entrain a wide range of substrate lithologies. Thirdly, ice advances do not always result in the deposition of a till but can simply override and glacitectonically-deform an underlying sediment-pile. In East Anglia, all of these issues manifest themselves to varying degrees, such that published lithostratigraphic schemes typically underestimate the number of ice advances and ice-marginal oscillations within the geological record. Within this paper, we present a hybrid tectonostratigraphic classification for the glacial succession of northern East Anglia, encompassing where appropriate, lithostratigraphic and morphostratigraphic elements. This approach identifies seven major tectonostratigraphic sub-divisions relating to individual ice-advances and a progressive shift in tectonic regime reflecting the long-term evolution of substrate and deforming-bed processes across the region during glaciation

Weak Equivalence Principle Test on a Sounding Rocket

SR-POEM, our principle of equivalence measurement on a sounding rocket, will compare the free fall rate of two substances yielding an uncertainty of E-16 in the estimate of \eta. During the past two years, the design concept has matured and we have been working on the required technology, including a laser gauge that is self aligning and able to reach 0.1 pm per root hertz for periods up to 40 s. We describe the status and plans for this project.Comment: Presented at the Fifth Meeting on CPT and Lorentz Symmetry, Bloomington, Indiana, June 28-July 2, 201

Star formation in the merging Galaxy NGC3256

The central 5 kpc of the ultra-luminous merging galaxy NGC 3256 was mapped at J, H, K, L, and 10 micrometer, and a 2 micrometer spectra of the nuclear region was obtained. This data was used to identify and characterize the super starburst which has apparently been triggered and fuelled by the merger of two gas rich galaxies. It is also shown that the old stellar population has relaxed into a single spheroidal system, and that a supernova driven wind might eventually drive any remaining gas from the system to leave a relic which will be indistinguishable from an elliptical galaxy

An Overview Of Fiduciary Standards And Suitability For Financial Planning Students

Financial planning is an interdisciplinary field including finance and business law topics. Consequently, standard pedagogical resources often omit topics that fall between these fields. To address a key gap in educational materials for financial planning students and faculty, this article reviews recent regulatory developments for financial planning students, including strengthened fiduciary standards and FINRA suitability requirements. The discussion introduces FINRA 2090, FINRA 2111, the Uniform Prudent Investor Act, and other widely adopted fiduciary-oriented model laws. The article concludes with a discussion of implications for financial planning professors and students

Broadcast Profanity and the Right to Be Let Alone: Can the FCC Regulate Non-Indecent Fleeting Expletives under a Privacy Model

This manuscript examines the issue of broadcast profanity regulation in light of the Supreme Court\u27s March 2008 decision to grant certiorari in an appeal from the U.S. Court of Appeals for the Second Circuit. The Second Circuit in 2007 held that the FCC was arbitrary and capricious in its decision to begin prohibiting single profanities, or fleeting expletives, on broadcast television. However, the common law of nuisance and the law of privacy may provide justification for the FCC to regulate broadcast profanity under 18 U.S.C. § 1464. Although some argue that regulating broadcast profanity would induce a chilling effect on broadcast speech or would be futile in light of proliferation of profanity across society, relevant Supreme Court precedents seem to allow prohibition of profanity when it attempts to enter the home. A review is undertaken of the status of profanity in the law by examining the history of nuisance actions for profanity as well as contemporary zones of activity, including schools, the workplace and courtrooms, in which the law allows prohibitions on profanity

Dietary Inflammatory Index and Biomarkers of Lipoprotein Metabolism, Inflammation and Glucose Homeostasis in Adults

Accumulating evidence identifies diet and inflammation as potential mechanisms contributing to cardiometabolic risk. However, inconsistent reports regarding dietary inflammatory potential, biomarkers of cardiometabolic health and metabolic syndrome (MetS) risk exist. Our objective was to examine the relationships between a food frequency questionnaire (FFQ)-derived dietary inflammatory index (DII®), biomarkers of lipoprotein metabolism, inflammation and glucose homeostasis and MetS risk in a cross-sectional sample of 1992 adults. Energy-adjusted DII (E-DII) scores derived from an FFQ were calculated. Lipoprotein particle size and subclass concentrations were measured using nuclear magnetic resonance (NMR) spectroscopy. Serum acute-phase reactants, adipocytokines, pro-inflammatory cytokines and white blood cell (WBC) counts were determined. Insulin resistance was calculated by homeostasis model assessment (HOMA-IR). Our data indicate that a more pro-inflammatory diet, reflected by higher E-DII scores, was associated with potentially pro-atherogenic lipoprotein profiles characterised by increased numbers of large very low density lipoprotein (VLDL), small dense low density lipoprotein (LDL) and high density lipoprotein (HDL) particles and less large LDL and HDL particles (all p \u3c 0.001). Inflammatory profiling identified a range of adverse phenotypes among those with higher E-DII scores, including higher complement component C3 (C3), C-reactive protein (CRP), (both p \u3c 0.05), interleukin 6 (IL-6) and tumour necrosis factor (TNF)-α concentrations, higher WBC counts and neutrophil to lymphocyte ratio (NLR) and lower adiponectin levels (all p \u3c 0.001). MetS risk was increased among those with higher E-DII scores (OR 1.37, 95% CI (1.01, 1.88), p \u3c 0.05), after adjusting for potential confounders. In conclusion, habitual intake of a more pro-inflammatory diet is associated with unfavourable lipoprotein and inflammatory profiles and increased MetS risk