The Relationship Among African American Male Earnings, Employment, Incarceration and Immigration: A Time Series Approach

The advent of rising immigration has spurred research into a number of important issues insofar as the indigenous labor market is concerned. Some of these issues regarding the nature of the effect on native workers have been studied extensively. Others, like the interrelationships among immigration flows, African-American male earnings, employment, and incarceration rates have not been widely examined. In this paper, the association among these non-stationary variables is studied in the framework of a Vector Error Correction model and the associated cointegrating relationship. We find no statistically significant association among immigration, Black male employment rates, and Black male incarceration rates over the period 1962-2006, ceteris paribus.immigration; Vector Error Correction; cointegration; incarceration rates; Black male employment rates

The Effect of Right-to-Work Laws on Business and Economic Conditions: A Multivariate Approach

The 1947 Taft-Hartley amendments to the National Labor Relations Act (1935) authorized a state's right to prohibit unions from requiring a worker to pay dues, even when the worker is covered by a collective bargaining agreement. Within a short time of the amendment's passage, twelve (12) states passed "right-to-work" laws, as did ten (10) more states in the intervening years. Although there has been considerable research on the influence of right-to-work laws on union density, organizing efforts, industrial development and some study of wage differences, there has been no examination of the legislations’ effect on business and economic conditions across states. In this paper, the average differences in business conditions, personal income, and employment across states that have enacted right-to-work laws versus those that do not have this legislation are examined using a Multivariate Analysis of Variance (MANOVA). Our most notable result is the finding that although right-to-work states may be more attractive to business, this does not necessarily translate into enhanced economic viability for all sectors in the right-to-work state. Not only are personal income and employment lower, but there are no significant differences in the number of firms and business formations between right-to-work and non-right-to-work states.right-to-work laws; business formation; employment; Multivariate Analysis of Variance (MANOVA)

An Empirical Investigation into the Effect of Music Downloading on the Consumer Expenditure of Recorded Music: A Time Series Approach

The downloading of music from the internet has been proliferating over the past three years. The recording industry believes that this phenomenon is responsible for the decline in recorded music sales since the year 2000 and to a certain extent; this is supported by consumer surveys and previous studies that have used panel or cross-sectional data. In this analysis, an econometric, time-series model of consumer spending on tapes, LPs, and CDs is estimated which takes into account factors that are posited as effecting the consumption of recorded music, but not used in previous studies. The most significant finding is that music downloading, subsequent to 2000, affects consumer spending on tapes, LPs, and CDs through the price elasticity of demand. Falling DVD prices have also served to reduce the demand of recorded music during this same period.

Speculation, Futures Prices, and the U.S. Real Price of Crude Oil

In this study, we examine the relationship between the U.S. real price of oil and factors that affect its movement over time: futures prices, the value of the dollar, exploration, demand, and supply. All of these variables are treated as jointly endogenous and a reduced form vector error correction model, testing for cointegration amongst the variables, is estimated. We find that for model specifications with short-term futures contracts, supply does indeed dominate price movements in the crude oil market. However, for specifications including longer-term contracts that are inherently more speculative, the real price of oil appears to be determined predominantly by the futures price. Moreover, there is empirical evidence of hoarding in the crude oil market: both oil stocks/inventories and futures prices are found to be positively cointegrated/correlated with each other. From a policy perspective, the results of this analysis indicate that if regulators really wanted to limit speculation in the oil market, it should keep the shorter-term futures contracts and eliminate the more speculative six months futures contracts.futures prices, cointegration, speculation, hoarding

HST-COS Observations of AGN. I. Ultraviolet Composite Spectra of the Ionizing Continuum and Emission Lines

The ionizing fluxes from quasars and other active galactic nuclei (AGN) are critical for interpreting the emission-line spectra of AGN and for photoionization and heating of the intergalactic medium. Using ultraviolet spectra from the Cosmic Origins Spectrograph (COS) on the Hubble Space Telescope (HST), we have directly measured the rest-frame ionizing continua and emission lines for 22 AGN. Over the redshift range 0.026 < z < 1.44, COS samples the Lyman continuum and many far-UV emission lines (Lya 1216, C IV 1549, Si IV/OIV] 1400, N V 1240, O VI 1035). Strong EUV emission lines with 14-22 eV excitation energies (Ne VIII 770,780, Ne V 569, O II 834, O III 833, 702, O IV 788,608,554, O V 630, N III 685) suggest the presence of hot gas in the broad emission-line region. The rest-frame continuum, F_nu ~ nu^{alpha_nu}, shows a break at wavelengths below 1000 A, with spectral index alpha_nu = -0.68 +/- 0.14 in the FUV (1200-2000 A) steepening to alpha_nu = -1.41 +/- 0.21 in the EUV (500-1000 A). The COS EUV index is similar to that of radio-quiet AGN in the 2002 HST/FOS survey (alpha_nu = -1.57 +/- 0.17). We see no Lyman edge (tau_HI < 0.03) or He I 584 emission in the AGN composite. Our 22 AGN exhibit a substantial range of FUV/EUV spectral indices and a correlation with AGN luminosity and redshift, likely due to observing below the 1000 A break.Comment: 17 pages, 10 figs, accepted to Astrophysical Journal (revised AGN luminosities and fluxes, updated figures

Design and performance of a 427-meter-per-second-tip-speed two-stage fan having a 2.40 pressure ratio

The aerodynamic design and the overall and blade-element performances are presented of a 427-meter-per-second-tip-speed two-stage fan designed with axially spaced blade rows to reduce noise transmitted upstream of the fan. At design speed the highest recorded adiabatic efficiency was 0.796 at a pressure of 2.30. Peak efficiency was not established at design speed because of a damper failure which terminated testing prematurely. The overall efficiencies, at 60 and 80 percent of design speed, peaked at approximately 0.83

Performance of two-stage fan with larger dampers on first-stage rotor

The performance of a two stage, high pressure-ratio fan, having large, part-span vibration dampers on the first stage rotor is presented and compared with an identical aerodynamically designed fan having smaller dampers. Comparisons of the data for the two damper configurations show that with increased damper size: (1) very high losses in the damper region reduced overall efficiency of first stage rotor by approximately 3 points, (2) the overall performance of each blade row, downstream of the damper was not significantly altered, although appreciable differences in the radial distributions of various performance parameters were noted, and (3) the lower performance of the first stage rotor decreased the overall fan efficiency more than 1 percentage point

CO Emission in the Inner Disk Around Young Intermediate-Mass Stars

We present observations that indicate viscous heating contributes significantly to the surface heating of the inner disk region (0.1-5 AU) around young intermediate-mass stars, Herbig AeBe stars, when the inner disk is optically thick. Brgamma flux is known to scale with accretion rate around young stars. We find a trend between Brgamma and CO emissivity, a tracer 1, 500 K gas in the gaseous atmospheres of less evolved inner disk regions in a sample of 25 Herbig AeBe stars, the higher mass analog of T Tauri stars. Evolved Herbig circumstellar disks do not follow this trend as closely. A thermal chemical model of the inner disk region of T Tauri stars by \citet{gla04} explains the strength and line profiles of observed CO rovibrational emission by showing that accretion contributes significantly to heating the protoplanetary disk. This heating produces the required temperatures and column densities for CO emission in the disk. Our results are consistent with these prescribed disk characteristics. Determining conditions and processes in circumstellar disks around young stars will help inform evolutionary theory and constrain timescales of disk dissipation and planet formation