Canada's Pioneering Experience with a Flexible Exchange Rate in the 1950s: (Hard) Lessons Learned for Monetary Policy in a Small Open Economy

This paper revisits Canada's pioneering experience with floating exchange rate over the period 1950–1962. It examines whether the floating rate was the best option for Canada in the 1950s by developing and estimating a New Keynesian small open economy model of the Canadian economy. The model is then used to conduct a counterfactual analysis of the impact of different monetary policies and exchange rate regimes. The main finding indicates that the flexible exchange rate helped reduce the volatility of key macroeconomic variables. The Canadian monetary authorities, however, clearly did not understand all of the implications of conducting monetary policy under a flexible exchange rate and a high degree of capital mobility. The paper confirms that monetary policy was more volatile in the post-1957 period and Canada's macroeconomic performance suffered as a result.Exchange rates; Economic models

Canada's Pioneering Experience with a Flexible Exchange Rate in the 1950s:(Hard) Lessons Learned for Monetary Policy in a Small Open Economy

This paper revisits Canada's pioneering experience with floating exchange rate over the period 1950-1962. It examines whether the floating rate was the best option for Canada in the 1950s by developing and estimating a New Keynesian small open economy model of the Canadian economy. The model is then used to conduct a counterfactual analysis of the impact of different monetary policies and exchange rate regimes. The main finding indicates that the flexible exchange rate helped reduce the volatility of key macro-economic variables. The Canadian monetary authorities, however, clearly did not understand all of the implications of conducting monetary policy under a flexible exchange rate and a high degree of capital mobility. The paper confirms that monetary policy was more volatile in the post-1957 period and Canada's macroeconomic performance suffered as a result.

Observations on courtship and mating behaviour in Maltese populations of the killifish Apnonius fasciatus (Pisces : Cyprinodontidae)

Courtship and mating behaviour of a Maltese population of Aphanius fasciatus kept in laboratory culture is described. Moles showed a brightening of their coloration. increased aggression towards other moles. and paid more attention to females during the period April-October. Moles took the lead in courtship. Courtship behaviour consisted of a number of acts. Some involved touching the female and these appeared to be designed to arouse sexual interest; others served to exhibit the male's body and to inhibit the female from swimming away. Mating commenced with the female pushing itself into floating algal mots: the male responded by wrapping its body tightly round that of the female. following which ejaculation of eggs and sperm occurred.peer-reviewe

SLM Materials Development

The purpose of this project was to create a procedure to efficiently determine a “recipe” of parameter values that create a desired set of mechanical properties. Research was conducted into the laser powder bed fusion process with focus on underdeveloped materials. A design of experiment was used with a set of density correlated parameters to establish a method of producing nearly dense parts. Our methods include SLM printing, metrology, and statistical analysis. An experimental procedure for materials development was designed, but unable to be validated during the scope of this project, due to unforeseen safety issues (exposure to Chromium 6, a toxic substance). Next steps include validation of this procedure using various metal powders in a SLM 125 HL

Emergent realities for social wellbeing : environmental, spatial and social pathways

One of the most significant effects of urbanisation is the increase in impervious surface cover which reduces infiltration and increases runoff volume. Effective management of urban storm water runoff and water quality issues can only be accomplished once drainage area and flow networks are accurately identified (Parece and Campbell, 2014). Water resources cannot be properly managed unless their spatial distribution is known, in terms of quantity and quality, and how these variables are dependent on the parameters of periodic events, such as the intensity and duration of storms. Data from hydrological networks are used by public and private sectors for various applications, including planning of water management systems, the preparation and distribution of flood forecasts and warning systems, and the design of spillways, bridges and culverts (Stewart, 2015).peer-reviewe

A Randomized Controlled Trial of Device Guided, Slow-Paced Respiration in Women with Overactive Bladder Syndrome.

PurposeWe evaluated the effects of device guided, slow-paced respiration on urgency associated urinary symptoms, perceived stress and anxiety, and autonomic function in women with overactive bladder syndrome.Materials and methodsWe performed a randomized, parallel group trial of slow-paced respiration to improve perceived stress and autonomic dysfunction as potential contributors to overactive bladder. Ambulatory women who reported at least 3 voiding or incontinence episodes per day associated with moderate to severe urgency were randomized to use a portable biofeedback device to practice daily, slow, guided breathing exercises or a control device which appeared identical and was reprogrammed to play music without guiding breathing. During 12 weeks we evaluated changes in urinary symptoms by voiding diaries, perceived stress and anxiety by validated questionnaires, and autonomic function by heart rate variability and impedance cardiography.ResultsIn the 161 randomized participants, including 79 randomized to paced respiration and 82 randomized to the control group, the average ± SD baseline frequency of voiding or incontinence associated with moderate to severe urgency was 6.9 ± 3.4 episodes per day. Compared to controls the participants randomized to paced respiration demonstrated greater improvement in perceived stress (average Perceived Stress Scale score decrease 2.8 vs 1.1, p=0.03) but not in autonomic function markers. During 12 weeks the average frequency of voiding or incontinence associated with moderate to severe urgency, which was the study primary outcome, decreased by a mean of 0.9 ± 3.2 episodes per day but no significant between group difference was detected.ConclusionsAmong women with overactive bladder slow-paced respiration was associated with a modest improvement in perceived stress during 12 weeks. However, it was not superior to a music listening control for reducing urinary symptoms or changing autonomic function

Excavations at Tas-Silg, Malta : a preliminary report on the 1996-1998 campaigns conducted by the Department of Classics and Archaeology of the University of Malta

The area known as Tas-Silg is situated in the south-eastern part of the island of Malta, close to Marsaxlokk harbour. In reality the place name refers to the small church dedicated to Our Lady of the Snows (hence Tas-Silg) situated at the point where the narrow · road from Zejtun forks out in two directions: to Delimara and Xrobb il-Ghagin due south-east and to Marsaxlokk village due south-west. A British-period fort occupying the highest point of the elongated hill further south along· the first road also carries the same place name. The lower and more compact hill on which the excavations have been conducted is called 'Ta' Berikka' , but since it is so close to the above-mentioned church (only 50 m to the north) the tradition of calling it Tas-Silg is now well established and there is no sense in changing it. The site has a commanding view of the Marsaxlokk harbour to the south and overlooks two other bays, Marsascala and St Thomas's bay, to the north-east. On all sides the slope is broken up by man-made terraced fields There is no doubt that the topography of the site must have been a determining factor in its choice for the establishment of a religious centre in the Temple period of Maltese pehistory (3000--2500 BC), though one must keep in mind that close to Tas-Silg there are three other prehistoric temple sites. each one with a completely different topography. The Temple people were quite introverted in their cultural isolation and do not seem to have been much interested in seafaring and in the outside world. The situation changed radically in the following age, the Bronze Age. when the island was occupied by people who set up villages on naturally defensible hilltops, occasionally fortifying them with artificial ramparts. The Tas-Silg hill with its temple ruins was occupied by these people, but it is not as yet clear for what purpose. The scenario changed again in historical times when the central and western Mediterranean started to be parcelled out among the commercial powers originating in the eastern Mediterranean. The Greeks do not seem to have even tried 10 colonize Malta as they did in neighbouring Sicily. The Phoenicians, however, did occupy the island, apparently through a slow process of peaceful penetration and eventual political and cultural assimi lation. It was in this period that the ruins of the megalithic temple were transformed into a Phoenician extraurban shrine dedicated to Astarte, which in time expanded into a full y-fledged sanctuary with an international reputation. The last chapter in the millennia- long history of the site was written when the colonnaded courtyard in front of the old temple was transformed into an early Christian church. Any use made of the site in the following Arab period is, once again, poorly understood.peer-reviewe

National Database on Biodiversity : a tool contributing to a better understanding of the flora and fauna of the Maltese Islands

The National Database on Biodiversity (NDB) project was initiated in 1991 within the framework of the Biological Diversity and Genetic Resources Network of the Malta Council for Science and Technology (MCST), in partnership with the Department of Biology of the University of Malta. This project is concerned with the collection and cataloguing of information on Maltese biodiversity and with making this information accessible to a wide range of potential users in the form of a computer database. In the pilot and building phases of the project, data on the flora and fauna of the Maltese Islands was structured in an appropriate format and a customised database with data entry, editing, management and querying facilities was created using Corel® Paradox® 8; the database currently holds some 450 species records and can be expanded to cover the entire range of MaItese species. The problems and opportunities in setting up such a database are discussed.peer-reviewe

Fishers’ perception of a 35-year old exclusive Fisheries Management Zone

Fishers’ attitudes and perceptions are critical for the success of fisheries protection areas with their associated biota, and a failure to understand fishers’ behaviour may undermine the success of such fisheries management measures. In this study, we examine fishers’ perception of a long-established exclusive fisheries zone around Malta and to investigate if the perceptions depend on fishers’ demographic, economic, social characteristics and fishing activity of the fishers. A questionnaire survey was undertaken to evaluate the demographic characteristics, economic situation (costs and revenue) and fishers’ activity and behaviour, together with their perception of the Fisheries Management Zone (FMZ). A total of 241 interview responses were analysed which was a response rate of 60%. The perception of most fishers was that the establishment of the FMZ has had an overall negative impact on their fishing activity and that the zone is not important for the protection of local fish stocks. When asked about the beneficial effect of the zone for fishers, most fishers from all backgrounds said that the zone does not benefit commercial fishers, but benefits mainly recreational fishers. The most evident differences in the perceptions and attitudes were between the full-time, part-time and recreational fishers. Fishers that have been fishing for more than 35 years and fishers from the main fishing village also had different attitudes from other fishers towards the FMZ. The results of this study suggest that the proportion of individual income derived from fishing was the strongest factor that influenced attitudinal differences, with home port and fishing experience having less important effects. The main differences in attitude among fishers were related to the protection and conservation effects of the zone, enhancement of resources and conflicts among user groups. The heterogeneity among fishers’ attitudes revealed by the present study has important implications for the implementation of spatial closures. Some sectors of stakeholders may require additional incentives to accept restrictions on access if spatial management is to achieve its intended objectives.peer-reviewe

Non-target by-catch in the Maltese bluefin tuna (Thunnus thynnus) longline fishery (Central Mediterranean)

The Bluefin Tuna longline fishery is one of the most important pelagic fisheries in the Mediterranean but recently there has been increasing concern about the catches of non-target species. This study presents an assessment of the non-target by-catch from the Maltese Bluefin Tuna longline fleet and examines the effect of various environmental and spatiotemporal factors on non-target species catch rates. Field observations were made during 85 fishing days. In terms of number, Bluefin Tuna comprised a relatively small portion of the total catch while the Loggerhead Turtle (Caretta caretta) was the predominant by-catch species. Catch Per Unit Effort (CPUE) was calculated in terms of weight (kg/1000hooks/hr) and number (no/1000hooks/hr) for all the species caught. General Linear Mixed Models (GLMMs) were applied to examine the effect of environmental and spatiotemporal variables on non-target bycatch CPUE. The model for CPUE (number) was not found to be significant. Date, lunar cycle, species and longitude were found to be significantly correlated with CPUE (weight). The results of this study suggests the need for the continual implementation of mitigation measures to minimise the impacts of fishing activities on threatened non-target species in the Mediterranean.peer-reviewe