The Living Murray NSW Market Purchase Measure: A survey of participants in permanent water trading for the environment

The Living Murray Initiative was established to recover 500 Gigalitres in average annual flows to address the declining environmental health of the Murray-Darling river system. The NSW Market Purchase Measure was initiated by the New South Wales Government as part of The Living Murray Initiative with the aim of purchasing up to 125 Gigalitres of high and medium reliability entitlements within the NSW southern connected part of the Murray-Darling Basin. The commencement of this measure provided an opportunity to survey participants in permanent water trading for an environmental outcome to determine general land use and socio-economic information as well as specific information regarding their current water use, future intentions and their opinion of the implementation of the water purchase process. The results of the survey will also assist in understanding the nature of the participants in this process relative to the broader irrigator/regional population. Importantly, the survey outcomes will help to improve understanding of participant circumstances and provide important lessons for future water purchase programs.Resource /Energy Economics and Policy,

The Living Murray NSW Market Purchase Measure: A survey of participants in permanent water trading for the environment

The Living Murray Initiative was established to recover 500 Gigalitres in average annual flows to address the declining environmental health of the Murray-Darling river system. The NSW Market Purchase Measure was initiated by the New South Wales Government as part of The Living Murray Initiative with the aim of purchasing up to 125 Gigalitres of high and medium reliability entitlements within the NSW southern connected part of the Murray-Darling Basin. The commencement of this measure provided an opportunity to survey participants in permanent water trading for an environmental outcome to determine general land use and socio-economic information as well as specific information regarding their current water use, future intentions and their opinion of the implementation of the water purchase process. The results of the survey will also assist in understanding the nature of the participants in this process relative to the broader irrigator/regional population. Importantly, the survey outcomes will help to improve understanding of participant circumstances and provide important lessons for future water purchase programs

Potential diversification benefits in the presence of unknown structural breaks: an Australian case study

The definitive version is available from http://www.blackwell-synergy.comIt is reasonable to suggest that a portfolio manager with direct property diversified by sector or region is more interested in strategic than in tactical asset allocation. However, even with strategic allocations of property the portfolio manager needs a regular monitoring of the inter-relationships amongst assets comprising the portfolio to ensure that unexpected events do not ‘permanently’ alter such relationships. One procedure for ascertaining whether assets are inter-related over the long run (and therefore offer few diversification benefits) is through cointegration analysis. A difficulty with conventional cointegration analysis, however, is that it is unable to accommodate changes in equilibrium relationships that might occur due to unexpected structural changes. In this paper we apply the Gregory and Hansen cointegration procedure to consider how unexpected structural changes might affect the potential long run diversification benefits of assets held in an Australian property portfolio

Crop Insurance Valuation under Alternative Yield Distributions

Considerable disagreement exists about the most appropriate characterization of farm-level yield distributions. Yet, the economic importance of alternative yield distribution specifications on crop insurance valuation has not been well documented. The results of this study demonstrate that large differences in expected payouts from popular crop insurance products can arise solely from the parameterization chosen to represent yield distributions. The results suggest that the frequently unexamined yield distribution specification may lead to economically significant errors in crop insurance policy rating and assessment of expected payouts from policies. Copyright 2004, Oxford University Press.

Loss-of-function of the voltage-gated sodium channel NaV1.5 (Channelopathies) in patients with irritable bowel syndrome

Background & Aims SCN5A encodes the α-subunit of the voltage-gated sodium channel NaV1.5. Many patients with cardiac arrhythmias caused by mutations in SCN5A also have symptoms of irritable bowel syndrome (IBS). We investigated whether patients with IBS have SCN5A variants that affect the function of NaV1.5. Methods We performed genotype analysis of SCN5A in 584 persons with IBS and 1380 without IBS (controls). Mutant forms of SCN5A were expressed in human embryonic kidney-293 cells, and functions were assessed by voltage clamp analysis. A genome-wide association study was analyzed for an association signal for the SCN5A gene, and replicated in 1745 patients in 4 independent cohorts of IBS patients and controls. Results Missense mutations were found in SCN5A in 13 of 584 patients (2.2%, probands). Diarrhea-predominant IBS was the most prevalent form of IBS in the overall study population (25%). However, a greater percentage of individuals with SCN5A mutations had constipation-predominant IBS (31%) than diarrhea-predominant IBS (10%; P <.05). Electrophysiologic analysis showed that 10 of 13 detected mutations disrupted NaV1.5 function (9 loss-of-function and 1 gain-of-function function). The p. A997T-NaV1.5 had the greatest effect in reducing NaV1.5 function. Incubation of cells that expressed this variant with mexiletine restored their sodium current and administration of mexiletine to 1 carrier of this mutation (who had constipation-predominant IBS) normalized their bowel habits. In the genome-wide association study and 4 replicated studies, the SCN5A locus was strongly associated with IBS. Conclusions About 2% of patients with IBS carry mutations in SCN5A. Most of these are loss-of-function mutations that disrupt Na V1.5 channel function. These findings provide a new pathogenic mechanism for IBS and possible treatment options. © 2014 by the AGA Institute

Level and change of group-focused enmity in Germany: unconditional and conditional latent growth curve models with four panel waves

Group-focused enmity, Syndrome, Prejudice, Conditional and unconditional latent growth curve modeling, Panel data,