Ancillary Results and Estimation Code for Dynamic Stock Market Covariances in the Eurozone

This paper provides additional tables, estimation code and estimation output for the paper “Dynamic Stock Market Covariance in the Eurozone.” It should be read in conjunction with that paper. Some familiarity with RATS statistical programming language is necessary for understanding the estimation code and estimation output. This code may be useful for researchers doing empirical analysis involving GARCH, Midas-Garch, or DCC-Midas-Garch, particularly if they use RATS. The code could be translated with suitable modifications to other programming languages

Dynamic Stock Market Covariances in the Eurozone

This paper examines the short-term dynamics, macroeconomic sensitivities, and longer-term trends in the variances and covariances of national equity market index daily returns for eleven countries in the Euro currency zone. We modify Colacito, Engle and Ghysels Mixed Data Sampling Dynamic Conditional Correlation Garch model to include a new scalar measure for the degree of correlatedness in time-varying correlation matrices. We also explore the robustness of the ndings with a less model-dependent realized covariance estima- tor. We nd a secular trend toward higher correlation during our sample period, and signicant linkages between macroeconomic and market-wide variables and dynamic correlation. One notable nding is that average correlation between these markets is lower when their average GDP growth rate is lower or when more of them have negative GDP growth

Problems in investigating psychokinesis in special subjects

An attempt is made to establish the authenticity of a number of 'Psychokinetic' (PK) effects claimed to have been obtained with Special Subjects and in the process to elucidate the question why in over a hundred years these phenomena remain controversial. Four cases are examined in detail. The first, that of Rudi Schneider, is a well documented case history and archival and other records are subjected to qualitative and quantitative examination, which suggests a prima facie case for authenticity of some of the claims, both of earlier gross effects and later vestigial irregularities detected by means of infra-red equipment. Scrutiny of the evidence also highlights the complex social and psychological factors entering into controversies in this area. In the second case an experimental claim to have established PK by means of a random number generator is shown to have been dubious if not spurious, and the circumstances, social and psychological, in which it arises, are discussed. The third case considered is a recent set of supposed poltergeist occurrences, the Enfield case, in which the writer participated and witnesses were interviewed and documents examined. It was concluded that the case was spurious and the pressures on all involved are discussed. The fourth case concerns a modern active psychic, Matthew Manning, whose earlier phenomena are considered, and with whom laboratory experiments were conducted in an attempt to replicate the infra-red disturbances found in the case of Schneider. These were ostensibly successful, and the records obtained were subjected to detailed scrutiny. The major problems facing researchers in this area are summarised. It is suggested that PK effects arise from group configurations of persons and are particularly connected with competition or personal ascendancy: however, there is no reason to suppose that the psychological circumstances surrounding ostensibly genuine PK are any different from normal and abnormal ones. An inter-relation between the ability actively to dominate and delude, and that to facilitate genuine phenomena, is suggested as a reason, in addition to numerous social and practical ones, why greater certainty has not been achieved to date. Future research is suggested

Reproductive Biology of Middle Mississippi River Shovelnose Sturgeon: Insights from Seasonal and Age Variation in Plasma Sex Steroid and Calcium Concentrations

Shovelnose sturgeon Scaphirhynchus platorynchus are endemic to the Mississippi River drainage and are commercially harvested for roe in several states. Status of shovelnose sturgeon populations throughout much of its range is unknown or declining; Mississippi River stocks are experiencing recruitment overfishing and may be at risk of collapse. Restoration of shovelnose sturgeon populations will require additional information on their reproductive biology, including age at maturity and reproductive status and cycles. The objectives of this study were to determine the effects of reproductive stage, fish age, and season on plasma 17-β estradiol (E2) and calcium (Ca2+) concentrations in female shovelnose sturgeon and plasma testosterone (T) concentrations in male shovelnose sturgeon from the middle Mississippi River (MMR). We also assessed the relationship between plasma vitellogenin (VTG) and Ca2+ concentrations for female shovelnose sturgeon. Plasma E2 and Ca2+ concentrations in females and T concentrations in males differed among reproductive stages, consistent with results of prior research on shovelnose sturgeon and other sturgeon species. VTG and Ca2+ concentrations were strongly correlated in female shovelnose sturgeon, indicating that Ca2+ can be used as a surrogate for VTG assays for identification of vitellogenic females, as has been shown for other sturgeon species. Age at maturity was estimated at 10 years for males and 9 years for females based on T and E2 profiles, consistent with other recent age at maturity estimates in the MMR and Wabash River determined by gonadal examination. Peaks in plasma sex steroid and Ca2+ concentrations during April and October possibly reflected the spring spawning season and provide additional evidence in support of recent documentation of fall spawning by shovelnose sturgeon in the MMR. Additional research is needed to elucidate fall spawning by shovelnose sturgeon in the MMR