DO PROFITABLE GRAIN MARKETING STRATEGIES EXIST FOR KANSAS CROPS?

The issue of whether profitable preharvest and postharvest marketing strategies exist relative to harvest sales for Kansas crops for the 1985-1998 marketing years is addressed. Practical application of market efficiency concepts is discussed. Nonharvest wheat marketing strategies offered less opportunity relative to harvest sales than for feedgrains and especially soybeans.Grain marketing, efficient markets, futures, options, marketing strategies, Crop Production/Industries, Marketing,

New model for vortex-induced vibration of catenary riser

This paper presents a new theoretical model capable of predicting the vortex-induced vibration response of a steel catenary riser subject to a steady uniform current. The equations governing riser in-plane/out-ofplane (cross-flow/in-line) motion are based on a pinned beam-cable model accounting for overall effects of bending, extensibility, sag, inclination and structural nonlinearities. The empirically hydrodynamic model is based on nonlinear wake oscillators describing the fluctuating lift/drag forces. Depending on the potentially vortex-induced modes and system parameters, a reduced-order fluid-structure interaction model is derived which entails a significantly reduced computational time effort. Parametric results reveal maximum response amplitudes of risers, along with the occurrence of uni-modal lock-in phenomenon

Florida's West Coast inlets: shoreline effects and recommended action

This report responds to the 1986 Beaches Bill which, in recognition of the potential deleterious impact on Florida's beaches of inlets modified for navigation, mandated a study of those inlets with identification of recommended action to reduce the impacts. This report addresses west Coast inlets; East Coast inlets are the subject of a companion report. There are 37 inlets along that portion of Florida's West Coast commencing from Pensacola Bay Entrance to Caxambas Pass at the south end of Marco Island. Compared to those on the East Coast, most West Coast inlets have not had the deleterious effects on the adjacent beaches, yet all modified inlets without proper management have the potential of impacting unfavorably on the adjacent shorelines. Moreover, at present there is interest in opening three West Coast entrances which either have been open in the past (Midnight Pass) or which have opened occasionally (Navarre Pass and Entrance to Phillips Lake). A review of inlets in their natural condition demonstrates the presence of a shallow broad outer bar across which the longshore transport Occurs. These shallow and shifting bar features were unsuitable for navigation which in many cases has led to the deepening of the channels and fixing with one or two jetty structures. Inlets in this modified state along with inappropriate maintenance practices have the potential of placing great ero$ional stress along the adjacent beaches. Moreover. channel dredging can reduce wave sheltering of the shoreline by ebb tidal shoals and alter the equilibrium of the affected shoreline segments. The ultimate in poor sand management practice is the placement of good quality beach sand in water depths too great for the sand to reenter the longshore system under natural forces; depths of 12 ft. or less are considered appropriate for Florida in order to maintain the sand in the system. With the interference of the nearshore sediment transport processes by inlets modified for navigation, if the adjacent beaches are to be stabilized there must be an active monitoring program with commitment to placement of dredged material of beach quality on shoreline segments of documented need. Several East Coast inlets have such transfer facilities; however. the quantities of sand transferred should be increased. Although an evolution and improvement in the technical capability to manage sand resources in the vicinity of inlets is expected, an adequate capability exists today and a concerted program should be made to commence a scheduled implementation of this capability at those entrances causing greatest erosional stress on the adjacent shorelines. A brief summary review for each of the 37 West Coast inlets is presented including: a scaled aerial photograph, brief historical information, several items related to sediment losses at each inlet and special characteristics relevant to State responsibilities. For each inlet, where appropriate, the above infor~tion is utilized to develop a recommenced action. (PDF has 101 pages.

Generic changes in United States Issini (Hemiptera, Fulgoroidea, Issidae)

Three new genera of the family Issidae are described for species formerly included in the genus Hysteropterum sensu lato: Balduza Gnezdilov and O’Brien, gen. n. (type species: Hysteropterum unum Ball 1910), Stilbometopius Gnezdilov and O’Brien, gen. n. (type species: Issus auroreus Uhler 1876), Abolloptera Gnezdilov and O’Brien, gen. n. (type species: Hysteropterum bistriatum Caldwell 1945),. The genus Tylanira Ball 1936 is redescribed. The male genitalia of Tylanira bifurca Ball 1936 is described and illustrated. Tylana ustulata Uhler 1876 is transfered to Tylanira. Hysteropterum bufo Van Duzee 1923 is transfered to Balduza gen. n. and the male genitalia of the species is described and illustrated. The subgenus Paralixes Caldwell 1945 of the genus Ulixes Stål 1861 is raised to genus – Paralixes Caldwell 1945, stat. n. A key to the issid genera of the United States is given. New data on the distribution of 7 species are given

Monthly, annual and quarterly frequencies: a comparison of models for tourism in Sardinia and bounded rationality

This paper constructs and estimates the demand for international tourism for the Italian Province of Sassari. The sample period under estimation is from 1972 to 1995. Three dynamic models are estimated at monthly, annual and quarterly data frequencies. Similarities and differences are explored amongst the three models, using recently developed econometric techniques. A "pre-modelling" data analysis is undertaken for the economic series of interest. By adopting the LSE "general-to-specific" methodology, dynamic estimations are run. A full range of diagnostic tests is provided. Short and long run income elasticities, negativity and substitutability are tested on the light of economic theory. On balance, evidence is found that the monthly and quarterly models present homogenous results in terms of seasonal and long run unit roots. Annual data show different and perhaps misleading results.

Deposit insurance, bank incentives, and the design of regulatory policy

This paper was presented at the conference "Financial services at the crossroads: capital regulation in the twenty-first century" as part of session 6, "The role of capital regulation in bank supervision." The conference, held at the Federal Reserve Bank of New York on February 26-27, 1998, was designed to encourage a consensus between the public and private sectors on an agenda for capital regulation in the new century.Deposit insurance ; Bank investments ; Bank supervision ; Bank capital

Investigating Nonlinearity: A Note on the Implementation of Hamilton's Methodology

In this paper we give an account of the new approach to nonlinear econometric modelling proposed by Hamilton (2001) and briefly describe some of the methods of nonlinear optimization that may be used in the Gauss computer program provided by Hamilton for the implementation of his methodology. The performance of this program is investigated using data relating to Hamilton's example concerning the US Phillips curve, two versions of the Gauss software and a range of alternative numerical optimization options and values for the important Gauss parameter _oprteps. Finally, the effects of changes in the sample data on the results produced by Hamilton's procedure are explored. The results presented suggest some clear conclusions, which will be of value to those contemplating working with Hamilton's new method.