Conference Summary: Price Adjustment and Monetary Policy

The 2002 Bank of Canada Conference focused on price adjustment, a critically important issue for monetary policy. Given the acceptance throughout the 1990s and 2000s of the existence of price stickiness in goods or labour markets, or both, and of the important role that monetary policy can play in an economy, the time was right for a conference that would focus on current developments in this area of research, particularly within a Canadian context. Conference papers covering both theoretical and empirical studies explored such themes as sources of the persistence of inflation, forward-looking models of inflation, models of inflation in open economies, the macroeconomic effects of technology shocks, and models of the interaction between wages, prices, and real economic outcomes.

Usefulness and reliability of online assessments: a Business Faculty's experience

The usefulness and reliability of online assessment results relate to the clarity, specificity and articulation of assessment purposes, goals and criteria. Cheating and plagiarism are two frequent and controversial issues that arise and there is a view that the online assessments mode inherently lends itself to both these practices. However, reconceptualising practice and redeveloping techniques can pave the way for an authentic assessment approach which minimizes student academic dishonesty. This article describes research which investigated online assessments practice in a business faculty at an Australian university and proposes what might constitute good, sustainable practice and design in university online assessment practices

Modelling the Risk and Return Relation Conditional on Market Volatility and Market Conditions

This paper investigates whether the risk-return relation varies, depending on changing market volatility and up/down market conditions. Three market regimes based on the level of conditional volatility of market returns are specified - 'low', 'neutral' and 'high'. The market model is extended to allow for these three market regimes and a three-beta asset-pricing model is developed. For a set of US industry sector indices using a cross-sectional regression, we find that the beta risk premium in the three market volatility regimes is priced. These significant results are uncovered only in the pricing model that accommodates up/down market conditions.CAPM, conditional market volatility, modelling conditional betas

OPTIMUM NUMBER AND LOCATION OF MANUFACTURING MILK PLANTS TO MINIMIZE MARKETING COSTS

Marketing,

Using Whole-Group Metabolic Rate and Behaviour to Assess the Energetics of Courtship in Red-Sided Garter Snakes

Reproductive effort is an important aspect of life history as reproductive success is arguably the most important component of fitness. Males tend to compete for access to females and, in the process, expend their energetic capital on mate searching, maleemale competition and courtship rather than directly on offspring. Red-sided garter snakes, Thamnophis sirtalis parietalis, are an exceptional model for studying energetic costs of courtship and mating as they fast during the spring mating season, which segregates the cost of energy acquisition from the cost of courtship and mating. However, measuring an individual male\u27s metabolic rate during courtship is complicated by the fact that male courtship behaviour in redsided garter snakes is dependent on both the detection of a female sexual attractiveness pheromone and on facilitated courtship (i.e. vigorous courtship is only exhibited in the presence of other males). Thus, traditional techniques of placing a mask over the head of individuals would prevent male courtship behaviour, and single animals placed in a flow-through chamber would not yield ecologically realistic levels of courtship, which are only seen in the context of a mating aggregation in this species. Because of these difficulties, we placed groups of males in a flow-through metabolic chamber together with a single female whose respiratory gases were vented outside the chamber to yield a whole-group metabolic rate during competitive courtship. We also measured the standard metabolic rates (SMR) of the males individually for comparison with active metabolic rates. Conservative estimates of peak group metabolic rates during courtship are 10e20 times higher than resting group metabolic rate, which was 1.88 times higher than SMR. These measurements, coupled with the fact that these males are aphagous during the breeding, indicates that costs of courtship may be high for males and has implications for the male mating tactics in this system