Comparing Wealth Effects: The Stock Market Versus the Housing Market

We examine the link between increases in housing wealth, financial wealth, and consumer spending. We rely upon a panel of 14 countries observed annually for various periods during the past 25 years and a panel of U.S. states observed quarterly during the 1980s and 1990s. We impute the aggregate value of owner-occupied housing, the value of financial assets, and measures of aggregate consumption for each of the geographic units over time. We estimate regressions relating consumption to income and wealth measures, finding a statistically significant and rather large effect of housing wealth upon household consumption.

Wealth Effects Revisited 1978-2009

We re-examine the link between changes in housing wealth, financial wealth, and consumer spending. We extend a panel of U.S. states observed quarterly during the seventeen-year period, 1982 through 1999, to the thirty-one year period, 1978 through 2009. Using techniques reported previously, we impute the aggregate value of owner-occupied housing, the value of financial assets, and measures of aggregate consumption for each of the geographic units over time. We estimate regression models in levels, first differences and in error-correction form, relating per capita consumption to per capita income and wealth. We find a statistically significant and rather large effect of housing wealth upon household consumption. This effect is consistently larger than the effect of stock market wealth upon consumption. This reinforces the conclusions reported in our previous analysis. In contrast to our previous analysis, however, we do find -- based on data which include the recent volatility in asset markets -- that the effects of declines in housing wealth in reducing consumption are at least as large as the effects of increases in housing wealth in increasing the course of household consumption.Consumption, Nonfinancial wealth, Housing market, Real estate

Comparing Wealth Effects: The Stock Market versus the Housing Market

We examine the link between increases in housing wealth, financial wealth, and consumer spending. We rely upon a panel of 14 countries observed annually for various periods during the past 25 years and a panel of U.S. states observed quarterly during the 1980s and 1990s. We impute the aggregate value of owner-occupied housing, the value of financial assets, and measures of aggregate consumption for each of the geographic units over time. We estimate regressions relating consumption to income and wealth measures, finding a statistically significant and rather large effect of housing wealth upon household consumption.Consumption, nonfinancial wealth, housing market, real estate

Trace Element Geochemistry of Iowa Coal

Coal samples were collected from four coal mines in Iowa and analyzed by instrumental neutron activation analysis (INAA) for La, Ce, Sm, Eu, Tb, Yb, Lu, Sc, Cr, Co, As, Th, and U. A comparison of the compositions of whole coals to their high-temperature ashes indicates that essentially all of these elements reside in the ash. The abundance of most elements is consistent with a trend of decreasing elemental concentrations from east to west in United States coals. Pyrite separates were found to concentrate As, Cr and Co, while calcite separates were found to concentrate Sc. Rare earth element (REE) patterns are given for the Iowa coals

Light exercise heart rate on-kinetics: a comparison of data fitted with sigmoidal and exponential functions and the impact of fitness and exercise intensity

This study examined the suitability of sigmoidal (SIG) and exponential (EXP) functions for modeling HR kinetics at the onset of a 5‐min low‐intensity cycling ergometer exercise test (5MT). The effects of training status, absolute and relative workloads, and high versus low workloads on the accuracy and reliability of these functions were also examined. Untrained participants (UTabs; n = 13) performed 5MTs at 100W. One group of trained participants (n = 10) also performed 5MTs at 100W (ETabs). Another group of trained participants (n = 9) performed 5MTs at 45% and 60% max (ET45 and ET60, respectively). SIG and EXP functions were fitted to HR data from 5MTs. A 30‐s lead‐in time was included when fitting SIG functions. Functions were compared using the standard error of the regression (SER), and test‐retest reliability of curve parameters. SER for EXP functions was significantly lower than for SIG functions across all groups. When residuals from the 30‐s lead‐in time were omitted, EXP functions only outperformed SIG functions in ET60 (EXP, 2.7 ± 1.2 beats·min−1; SIG, 3.1 ± 1.1 beats·min−1: P \u3c 0.05). Goodness of fit and test–retest reliability of curve parameters were best in ET60 and comparatively poor in UTabs. Overall, goodness of fit and test–retest reliability of curve parameters favored functions fitted to 5MTs performed by trained participants at a high and relative workload, while functions fitted to data from untrained participants exercising at a low and absolute workload were less accurate and reliable

Maine Distributed Solar Valuation Study

During its 2014 session, the Maine Legislature enacted an Act to Support Solar Energy Development in Maine. P.L Chapter 562 (April 24, 2014) (codified at 35‐A M.R.S. §§ 3471‐3473) (“Act”). Section 1 of the Act contains the Legislative finding that it is in the public interest is to develop renewable energy resources, including solar energy, in a manner that protects and improves the health and well‐being of the citizens and natural environment of the State while also providing economic benefits to communities, ratepayers and the overall economy of the State. Section 2 of the Act requires the Public Utilities Commission (Commission) to determine the value of distributed solar energy generation in the State, evaluate implementation options, and to deliver a report to the Legislature. To support this work, the Commission engaged a project team comprising Clean Power Research (Napa, California), Sustainable Energy Advantage (Framingham, Massachusetts), Pace Energy and Climate Center at the Pace Law School (White Plains, New York), and Dr. Richard Perez (Albany, New York). Under the project, the team developed the methodology under a Commission‐run stakeholder review process, conducted a valuation on distributed solar for three utility territories, and developed a summary of implementation options for increasing deployment of distributed solar generation in the State. The report includes three volumes which accompany this Executive Summary: Volume I Methodology; Volume II Valuation Results; Volume III Implementation Options

Distribution of Complex and Core Lipids within New Hyperthermophilic Members of the Archaea Domain

Core and complex lipids of several new hyperthermophilic archaeal isolates were analyzed. The organisms belong to the Sulfolobales,Archaeoglobus, Pyrobaculum, and Methanococcus. A detailed structural investigation of complex lipids of Pyrobaculum species is reported. The different lipid structures are of help for a rapid and simple phylogenetic classification of the new isolates. They are in agreement with the classification based on other features

Comparing Wealth Effects: The Stock Market Versus the Housing Market

We examine the link between increases in housing wealth, financial wealth, and consumer spending. We rely upon a panel of 14 countries observed annually for various periods during the past 25 years and a panel of U.S. states observed quarterly during the 1980s and 1990s. We impute the aggregate value of owner-occupied housing, the value of financial assets, and measures of aggregate consumption for each of the geographic units over time. We estimate regressions relating consumption to income and wealth measures, finding a statistically significant and rather large effect of housing wealth upon household consumption

Control of Silica Dust in Slate Milling Operations

The Mine Safety and Health Administration (MSHA) conducted a study to assess the present state of technology used for controlling employees\u27 respirable silica-bearing dust exposures during dimension slate milling operations. For this study, twelve slate milling operations were visited and various measurements were taken and observations made. These measurements and observations included exhaust and room airflow, types of enclosures, water usage, and building volumes for each of the milling processes. These mills usually employed between five and twenty people. From the study, general guidelines were developed from the best practices observed and can be used at the various sawing, splitting, trimming, and drilling operations throughout the industry