Mean reversion of inflation rates in 19 OECD countries: Evidence from panel Lm unit root tests with structural breaks

The paper applies the recently developed panel LM unit root tests with heterogeneous structural breaks by Im et al., [The Oxford Bulletin of Economics and Statistics, 2005] in order to re-examine the validity of mean reversion in the inflation rates of 19 OECD countries for the time period 1960-2004. Our empirical findings are favorable to the stationarity of the inflation ratesand therefore point to the absence of hyperinflation in the majority of the countries. The results indicate that most shocks to inflation rates are temporary and soon converge when we control for breaks, with the inflation rates showing mean reversion. Overall, some policy implications are obtained in this paper.Inflation

Are Fruit and Vegetable Prices Non-linear Stationary? Evidence from Smooth Transition Autoregressive Models

Over the last decade, there has been a growing interest in investigating agricultural commodity prices. We apply two more powerful smooth transition autoregressive models of the non-linear unit-root test - namely, the ESTAR model of Kapetanios et al. [Journal of Econometrics (2003)] and the LSTAR model of Leybourne, et a . [Journal of Time Series Analysis (1998)] - with a view to investigating non-linear stationarity for the retail prices of 8 major kinds of fruit and 18 major kinds of vegetable in Taiwan. The empirical evidence clearly finds that the Kapetanios et al. model provides solid, substantive evidence in favor of a non-linear mean-reverting adjustment for the individual price of 4 kinds of fruit and 5 kinds of vegetable. However, when we employ the Leybourne et al. model, we find that any such similar evidence of non-linear stationarity is considerably weaker. Finally, compared with the traditional linear unit root tests, it is important to note here that, all in all, the non-linear unit root tests do indeed provide much more evidence of the stationarity, albeit to varying degrees. This paper offers some policy implications.Smooth transition autoregressive model; Non-linear stationary; Fruit price; Vegetable price; Taiwan

Hafnium oxide-based ferroelectric thin-film transistor with a-InGaZnO channel fabricated at temperatures \u3c= 350°C

HfO2-based ferroelectric materials integrated with oxide-based thin-film transistors have been considered as potential candidates for back-end-of-line compatible ferroelectric field-effect transistors, which can be vertically stacked on silicon CMOS circuits to realize high-density neural network applications. However, the formation of ferroelectric orthorhombic phase in HfO2-based materials usually requires an annealing temperature of 400°C or higher. In this work, ferroelectric thin-film transistors (Fe-TFTs) were developed by monolithically integrating HfZrO2 (HZO) ferroelectric capacitors with amorphous indium-gallium-zinc oxide (a-IGZO) TFTs at a maximum processing temperature of 350°C on a glass substrate. A butterfly-shaped C-V curve was clearly observed in the low-temperature annealed metal-HZO-metal capacitor, indicating the formation of ferroelectricity in the HZO layer, as shown in Fig. 1. The positive and negative coercive voltages were 3 V and -2.4 V, respectively. The dielectric constant was 20.65. The field-effect mobility, threshold voltage, subthreshold swing and on/off current ratio of the a-IGZO TFT extracted from the transfer characteristics shown in Fig. 2 were 6.15 cm2V-1s-1, 1.5 V, 0.1 V/dec and 4.3´107, respectively. Fig. 3 shows the transfer hysteresis curves of the low-temperature Fe-TFTs in a metal-ferroelectric-metal-insulator-semiconductor configuration. The Fe-TFTs exhibited large hysteresis memory windows of 2.8 V and 3.8 V when the area ratios between ferroelectric capacitors and gate insulators (AFE / ADE) were 1/8 and 1/12, respectively. The result shows a great potential for back-end-of-line compatible memory applications. Please click Download on the upper right corner to see the full abstract

The Potential Economic Impact of Avian Flu Pandemic on Taiwan

This study analyzes the potential consequences of an outbreak of avian influenza (H5N1) on Taiwan¡¦s macro economy and individual industries. Both the Input-Output (IO) Analysis Model and Computable General Equilibrium (CGE) Model are used to simulate the possible damage brought by lowering domestic consumption, export, and labor supply. The simulation results indicates that if the disease is confined within the poultry sector, then the impact on real GDP is around -0.1%~-0.4%. Once it becomes a human-to-human pandemic, the IO analysis suggests that the potential impacts on real GDP would be as much as -4.2%~-5.9% while labor demand would decrease 4.9%~6.4%. In the CGE analysis, which allows for resource mobility and substitutions through price adjustments, the real GDP and labor demand would contract 2.0%~2.4% and 2.2%~2.4%, respectively, and bringing down consumer prices by 3%. As for the individual sector, the outbreak will not only damage the poultry sector and its upstream and downstream industries, but also affect the service sectors including wholesale, retail, trade, air transportation, restaurants, as well as healthcare services. These results can be used to support public investment in animal disease control measures.Avian Flu Pandemic, Input-output Model, Computable General Equilibrium Model, Livestock Production/Industries,

International human rights law and the right to mental health

Purpose: Why did the WHO claim that there is “no health without mental health”? In its reform of the Ministry of Health and Welfare (MOHW), why did the Taiwan government add oral health into the Department of Mental Health? This paper explores normative accounts for the right to health which include physical and mental health as a highest state for everyone. Challenge the government should not excuse for inadequate resource to add oral to Department of mental health. Methods: We apply an analysis of international human rights law and international conventions to justify how mental health is a human right. Results: The right to the highest attainable standard of health is enshrined in the Universal Declaration of Human Rights, the International Covenant on Economic, Social, and Cultural Rights, as well as the constitution of the World Health Organization. A person’s state of health is conceptualized with a holistic perspective. Mental health, by definition and elements, is critical to an individual’s personal dignity, lifestyle, and living condition. Thus, as the fundamental basis of personal development and functioning, physical and mental health are recognized as a human right in international human rights law. The governments need to take responsibilities to build a mental healthy environment to their people. Conclusions: We found that in practice, governments (including Taiwan) often ignore people’s mental health needs when initiating health or welfare policies, especially if mental health is not regarded as a human right by the government. In fact, some governments refuse to honor mental health as a right although it is a legal obligation under international law. We urge Taiwan’s government to return the structure of the MOHW back to include an independent Department of Mental Health. To influence governmental policies, a change is needed in the research community, because researchers and practitioners in mental health and psychiatry still rarely view mental health from an international human rights perspective as well as for all public not disease oriented. We hope to initiate a review of the basic requirements of the right to mental health in terms of its positive, rather than negative, aspects