Exchange-Rate Systems and Interest-Rate Behaviour: The Experience of Hong Kong and Singapore

The Currency Board System in Hong Kong and the monitoring band system in Singapore are important benchmarks for two different exchange-rate systems. In this paper we consider the implications of the two exchange-rate systems on the interest-rate behaviour of the two economies. We examine the domestic-US interest differentials under the two exchange-rate regimes during the Asian Financial Crisis as well as the pre- and post-crisis periods. Using a bivariate generalized autoregressive conditional heteroscedasticity model, we also investigate whether there is any change in the correlation between the domestic and US interest rates due to the Asian Financial Crisis.

Inert-states of spin-5 and spin-6 Bose-Einstein condensates

In this paper we consider spinor Bose-Einstein condensates with spin f=5 and f=6 in the presence and absence of external magnetic field at the mean field level. We calculate all of so-called inert-states of these systems. Inert-states are very unique class of stationary states because they remain stationary while Hamiltonian parameters change. Their existence comes from Michel's theorem. For illustration of symmetry properties of the inert-states we use method that allows classification of the systems as a polyhedron with 2f vertices proposed by R. Barnett et al., Phys. Rev. Lett. 97, 180412 (2006).Comment: 19 pages, 4 figure

Multiple Correspondence and Typological Convergence in Contact-Induced Grammaticalization: Evidence from Cantonese-English Bilingual Development

This paper examines the emergence of perfective aspect in Cantonese-English bilingual children from the perspective of contact-induced grammaticalization, focusing on the novel use of already. Although the adverbial already seems to serve a function similar to that of the Cantonese perfective marker zo2 in the bilingual children, other model constructions suggest that the function of already may combine those of several Cantonese particles such as the sentence-final particle laa3. The results suggest that in contact-induced grammaticalization, it is possible to develop a new category in the replica language based on multiple different but related categories in the model language. Adopting an evolutionary approach to language transmission (Mufwene, 2001), we discuss why grammaticalization in the Cantonese-English bilingual children does not seem to involve coevolution of form and meaning, why the grammaticalization phenomena in the bilingual children are only transient, and how the study of bilingual acquisition can contribute to contact linguistics

Thin Films of 3He -- Implications on the Identification of 3 He -A

Recently the identification of 3He-A with the axial state has been questioned. It is suggested that the A-phase can actually be in the axiplanar state. We point out in the present paper that experiments in a film geometry may be useful to distinguish the above two possibilities. In particular a second order phase transition between an axial and an axiplanar state would occur as a function of thickness or temperature.Comment: 3 pages, no figures latex- revtex aps accepted by J. of Low Temperature Physic

Josephson Current between Triplet and Singlet Superconductors

The Josephson effect between triplet and singlet superconductors is studied. Josephson current can flow between triplet and singlet superconductors due to the spin-orbit coupling in the spin-triplet superconductor but it is finite only when triplet superconductor has $L_z=-S_z=\pm 1$, where $L_z$ and $S_z$ are the perpendicular components of orbital angular momentum and spin angular momentum of the triplet Cooper pairs, respectively. The recently observed temperature and orientational dependence of the critical current through a Josephson junction between UPt$_3$ and Nb is investigated by considering a non-unitary triplet state.Comment: 4 pages, no figure

Is the Convergence of Accounting Standards Good for Stock Markets?

This paper examines the impact of the convergence of Hong Kong Accounting Standard 40 (HKAS 40) with the International Financial Reporting Standard (IFRS) on the stock prices of firms in the property industry. Using a sample of 22111 firm-day observations, we show that the new standard has a negative impact on the stock performance of these firms.Hong Kong Accounting Standard 40, Event Window, Stock Return.

Checking the healthiness of commitment profile from its prediction of burnout

Abstract no. 443This paper examines the commitment profiles of Hong Kong Chinese architecture students with the 3-factor model of professional commitment and its impact on burnout. The Chinese version of Maslach Burnout Inventory – Student Survey and adapted version of Occupational Commitment Questionnaire are administered to measure burnout and commitment profile. Multiple regression models are performed with burnout dimensions as dependent variables, the three facets of commitment, namely affective, continuance and normative commitment, as independent variables, and demographic variables as controlling variables. The findings are consistent across different models that continuance commitment is positively, affective and normative commitment negatively, associated with burnout. The study suggests, from its relationship with burnout, a healthy commitment profile is composed of more affective and normative commitments and less continuance commitment in the population of architecture students. Architectural schools are advised to be more aware of the types of commitments encouraged in their curriculum and pedagogy.postprintThe 18th CIB World Building Congress 2010 on Building a Better World, Salford, U.K., 10-13 May 2010. In Proceedings of the CIB 2010, 2010, p. 276-28