The Deep Historical Roots of Macroeconomic Volatility

We present cross-country evidence that a country's macroeconomic volatility, measured either by the standard deviation of output growth or the occurrence of trend-growth breaks, is significantly affected by the country's historical variables. In particular, countries with longer histories of state-level political institutions experience less macroeconomic volatility in postwar periods. Robustness checks reveal that the effect of this historical variable on volatility remains significant and substantial after controlling for a host of structural variables investigated in previous studies. We also find that the state history variable is more important in countries with a higher level of macroeconomic volatility

The impact of trade on international mediation

If trade affects the costs of conflict, does it also influence the likelihood of mediation attempts? This article argues that dense bilateral trade between antagonists yields high opportunity costs since it is expensive to seek alternative markets and the belligerents will be highly vulnerable to sanctions from their counterpart. This creates incentives for combatants to limit hostility and settle conflicts through mediation. By contrast, the extent to which belligerents trade with other states decreases the likelihood of mediation since antagonists with alternative partners can mitigate the consequences of sanctions and substitute for markets, which may be at risk or even lost because of the outbreak of a dispute. The divergent effects of different trade ties imply that the impact of bilateral trade on the prospects for mediation should vary conditional on countries' trade with states outside the dyad and vice versa. This article demonstrates that this is partially valid. © The Author(s) 2010

Retrieval of Substrate Bearing Strength from Hyperspectral Imagery during the Virginia Coast Reserve (VCR\u2707) Multi-Sensor Campaign

Hyperspectral imagery (HSI) derived from remote sensing can delineate surface properties of substrates such as type, moisture, and grain size. These are critical parameters that determine the substrate bearing strength. Although HSI only sees the surface layer, statistics can be derived that relate surface properties to the likely bearing strength of soils in particular regions. This information can be used to provide an initial map estimate on large scales of potential bearing strength. We describe an initial validation study at the Virginia Coast Reserve relating airborne HSI to in situ spectral and geotechnical measurements through a spectral-geotechnical lookup table (LUT)