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  • 1
    Digitale Medien
    Digitale Medien
    Springer
    Empirical economics 23 (1998), S. 295-315 
    ISSN: 1435-8921
    Schlagwort(e): Cointegration ; exogeneity ; financial innovation ; money demand ; parameter constancy ; E41 ; E52
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Wirtschaftswissenschaften
    Notizen: Abstract This paper examines several central issues in the empirical modeling of money demand. These issues include economic theory, data measurement, parameter constancy, the opportunity cost of holding money, cointegration, model specification, exogeneity, and inferences for policy. Review of these issues at a general level is paralleled by discussion of specific empirical applications, including some new results on the demand for narrow money in the United Kingdom.
    Materialart: Digitale Medien
    Standort Signatur Erwartet Verfügbarkeit
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  • 2
    Digitale Medien
    Digitale Medien
    Springer
    Empirical economics 23 (1998), S. 317-337 
    ISSN: 1435-8921
    Schlagwort(e): Money-in-the-utility-function model ; structural breaks ; demand for money ; narrow money ; harmonized M3 ; C22 ; C52 ; E41
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Wirtschaftswissenschaften
    Notizen: Abstract We derive a theoretical model for the demand for money using the adjustment cost augmented money-in-the-utility-function approach. The steady-state-utility function-parameters of the model of narrow money (M1) estimated with cointegration techniques are stable over the foreign exchange rate regime shift; whereas in the model of harmonized M3 (M3H) they arenot stable. The theoretical model fits the M1 data. The adjustment cost parameters of the M1 model describing the dynamics of the demand for money might indicate technological improvements in banking and payments during the sample period. These results suggest that from the Finnish point of view M1 would be a more appropriate intermediate target for monetary policy than harmonized M3.
    Materialart: Digitale Medien
    Standort Signatur Erwartet Verfügbarkeit
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  • 3
    Digitale Medien
    Digitale Medien
    Springer
    Empirical economics 23 (1998), S. 455-481 
    ISSN: 1435-8921
    Schlagwort(e): Key words: Cointegration ; long-run impact ; money demand ; IS ; LM ; monetary policy ; capital liberalization ; JEL classification: C32 ; E41 ; E52
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Wirtschaftswissenschaften
    Notizen: Abstract. The paper presents a comparative analysis of monetary transmission mechanisms and changes in them after the “second ERM” in March 1983. The empirical model investigates the determination of money, income, prices, and interest rates in Germany, Denmark, and Italy based on the cointegrated VAR model. It provides empirical results on the macroeconomic effects of joining the ERM and financial deregulation.
    Materialart: Digitale Medien
    Standort Signatur Erwartet Verfügbarkeit
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  • 4
    ISSN: 1573-0417
    Schlagwort(e): Antarctica ; saline lakes ; weightedaveraging ; transfer function ; diatom analysis ; palaeolimnology ; climate change
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Biologie , Geologie und Paläontologie
    Notizen: Abstract The relationship between surface sediment diatom assemblages and measured limnological variables in thirty-three coastal Antarctic lakes from the Vestfold Hills was examined by constructing a diatom-water chemistry dataset. Previous analysis of this dataset by canonical correspondence analysis revealed that salinity accounted for a significant amount of the variation in the distribution of the diatom assemblages. Weighted-averaging regression and calibration of this diatom-salinity relationship was used to establish a transfer function for the reconstruction of past lakewater salinity from fossil diatom assemblages. Weighted-averaging regression and calibration with classical deshrinking provided the best model for salinity reconstructions and this was applied to the fossil diatom assemblages from one of the saline lakes in the Vestfold Hills in order to assess its potential for palaeosalinity and palaeoclimate reconstruction.
    Materialart: Digitale Medien
    Standort Signatur Erwartet Verfügbarkeit
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  • 5
    Digitale Medien
    Digitale Medien
    Springer
    Journal of paleolimnology 20 (1998), S. 253-265 
    ISSN: 1573-0417
    Schlagwort(e): Late Quaternary ; diatoms ; climate change ; vegetation change ; shallow ; subalpine ; Crowfoot Lake ; Alberta ; paleolimnology
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Biologie , Geologie und Paläontologie
    Notizen: Abstract The late Quaternary diatom record from subalpine Crowfoot Lake, Banff National Park, Alberta (lat. 51° 61′N; long. 116° 31′W) has been analyzed. Results are related to independently inferred vegetation and climate changes. No diatoms were found in the basal diamict that predates 11330 14C yr BP. Very few occur until ca. 10 10014 C yr BP probably due to the short time between de-glaciation and an advance of the Crowfoot Glacier during the ‘Younger Dryas Chron’. Initial pioneering species were characteristic of alkaline water and calcareous organic sediments. They appeared as sediments became organic and laminated suggesting increasing water clarity, and as the Pinus-dominated forest expanded and the climate warmed. After ca. 9060 14C yr BP diatom numbers increased rapidly, reaching a maximum prior to the Mazama tephra; they remained high until ca. 3500 14C yr BP. The period between ca. 9060 and 3500 14C yr saw timberline elevation increase and the dominance of xerophytic taxa. These are consistent with early to mid-Holocene warmth and aridity. Diatom productivity reflects the warm climate and presumably longer ice-free season, a stable catchment and transparent water. Decreases in diatom productivity coincide with a vegetation change with reduction of xerophytic taxa and the appearance of a closed Picea-Abies forest, hence a cooler, wetter climate at ca. 4100 to 3500 14C yr BP. The diatom numbers during the Neoglacial were of the same magnitude as prior to ca. 9060 14C yr BP. Small species of Fragilaria (overwhelmingly Fragilaria construens v. venter) became extremely dominant during the period of high diatom productivity, and remained so thereafter. Recovery of the lake appears to have been rapid after deposition of the Mazama tephra. Maximum occurrence of Cyclotella radiosa occurred ca. 8000 14C yr BP during the warm early Holocene and may reflect this warmer climate, a longer ice-free season than presently, perhaps less turbid water, or it may reflect a subtly higher nutrient status of the lake water. The diatom record of Crowfoot Lake has responded with sensitivity, particularly in terms of productivity, to the Holocene vegetation and climate changes.
    Materialart: Digitale Medien
    Standort Signatur Erwartet Verfügbarkeit
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  • 6
    Digitale Medien
    Digitale Medien
    Springer
    Journal of paleolimnology 20 (1998), S. 205-215 
    ISSN: 1573-0417
    Schlagwort(e): subarctic lakes ; diatoms ; paleolimnology ; climate change ; Cyclotella ; Finnish Lapland
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Biologie , Geologie und Paläontologie
    Notizen: Abstract Diatoms were analysed from a 30-cm long sediment core obtained from remote subarctic Lake Saanaärvi (69°03′N, 20°52′E) in order to trace possible changes in the lake. Diatom assemblages were relatively constant throughout the core, except in the top 4–5 cm (approx 1850 A.D.) where relative frequencies of Aulacoseira italica subsp. subarctica, A. lirata var. biseriata, Cyclotella comensis and C. glomerata increased markedly. No significant trends were observed in the weighted averaging (WA) reconstructed pH values. Several hypotheses, including (i) airborne pollution, (ii) climatic change, and (iii) catchment disturbances have been put forth to explain the recent changes in diatom assemblages. The diatom change coincides with a marked increase in mean annual temperature that has been documented in the area since the termination of the Little Ice Age. Our evidence favours climate change as the main causative mechanism for the observed diatom compositional changes, although other explanations cannot be ruled out.
    Materialart: Digitale Medien
    Standort Signatur Erwartet Verfügbarkeit
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  • 7
    Digitale Medien
    Digitale Medien
    Springer
    Economic theory 11 (1998), S. 275-294 
    ISSN: 1432-0479
    Schlagwort(e): JEL Classification Numbers: E40 ; E41 ; E42 ; E43 ; C62.
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Wirtschaftswissenschaften
    Notizen: Summary. I provide new results concerning dynamics for a version of the Kiyotaki-Wright model (1989) in which strategies (either mixed or pure) are restricted so that agents play the same strategy for each opportunity set. My results demonstrate the importance of examining stability in such models, because they show that many steady states focused on in the literature are not stable. Furthermore, I exhibit examples of two-period-convergent equilibria in which agents are indifferent among media of exchange. Consequently, their endogenous transaction pattern is analog to the coexistence of assets whose acceptability or “liquidity” varies inversely with their rates of return.
    Materialart: Digitale Medien
    Standort Signatur Erwartet Verfügbarkeit
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  • 8
    Digitale Medien
    Digitale Medien
    Springer
    Climatic change 40 (1998), S. 277-284 
    ISSN: 1573-1480
    Schlagwort(e): ombrotrophic bogs ; microbial ecology ; methane ; climate change
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Geologie und Paläontologie , Physik
    Notizen: Abstract Gases are produced from wetlands when plant biomass is degraded by microbial consortia, producing carbon dioxide aerobically and methane when oxygen is lacking. In anaerobic waterlogged situations, such as the catotelm of ombrotrophic bogs, this methane forms minute gas bubbles that severely reduce the hydraulic conductivity and hence the degradation of biomass due to the lack of nutrients. The bogs thus become carbon sinks, formed from the partially degraded biomass that accumulates as peat. The results of an investigation of an ombrotrophic bog, Mer Bleue, Ontario, Canada are summarized here, and the effects that climate change may have on such bogs are discussed. Any change of the water table in wetlands will have a substantial effect upon their ecology. If the water table should fall allowing bogs to become aerobic, most of the accumulated biomass carbon could be returned to the atmosphere by degradation to carbon dioxide, and as well, methane entrapped within the matrix would be released directly to the atmosphere. If on the other hand, the bogs are flooded, then the entrapped bubbles will coalesce allowing the gas to escape to the atmosphere, while at the same time the degradation of the peat will be enhanced.
    Materialart: Digitale Medien
    Standort Signatur Erwartet Verfügbarkeit
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  • 9
    Digitale Medien
    Digitale Medien
    Springer
    Speculations in science and technology 21 (1998), S. 187-197 
    ISSN: 1573-9309
    Schlagwort(e): Carbon dioxide ; climate change ; radiant energy production
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Allgemeine Naturwissenschaft , Technik allgemein
    Notizen: Abstract The present mechanism of radiant energy production in the atmosphere is considered and it is shown that it is not compatible with accepted principles of physics. An alternative mechanism whereby the temperature of the atmosphere and surface of the Earth is regulated by a chemical reaction in the stratosphere is described. It is shown that this mechanism can account for the changes in climate which occurred during the past ten thousand years. The effect on this mechanism of changes in the composition of atmospheric gases, including changes resulting from human activities, is described and the consequences of the changes recorded.
    Materialart: Digitale Medien
    Standort Signatur Erwartet Verfügbarkeit
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  • 10
    ISSN: 1573-1480
    Schlagwort(e): effects of global warming ; drought ; climate change ; Prairie Pothole Region ; waterfowl ; waterfowl breeding ecology ; wetlands
    Quelle: Springer Online Journal Archives 1860-2000
    Thema: Geologie und Paläontologie , Physik
    Notizen: Abstract The Prairie Pothole Region (PPR) of the Northern Great Plains is the most important breeding area for waterfowl in North America. Historically, the size of breeding duck populations in the PPR has been highly correlated with spring wetland conditions. We show that one indicator of climate conditions, the Palmer Drought Severity Index (PDSI), is strongly correlated with annual counts (from 1955 to 1996) of both May ponds (R2 = 0.72, p 〈 0.0001) and breeding duck populations (R2 = 0.69, p 〈 0.0001) in the Northcentral U.S., suggesting the utility of PDSI as an index for climatic factors important to wetlands and ducks. We then use this relationship to project future pond and duck numbers based on PDSI values generated from sensitivity analyses and two general circulation model (GCM) scenarios. We investigate the sensitivity of PDSI to fixed changes in temperature of 0°C, +1.5°C, +2.5°C, and +4.0°C in combination with fixed changes in precipitation of -10%, +0%, +7%, and +15%, changes spanning the range of typically-projected values for this region from human-induced climatic change. Most (11 of 12) increased temperature scenarios tested result in increased drought (due to greater evapotranspiration under warmer temperatures) and declining numbers of both wetlands and ducks. Assuming a doubling of CO2 by 2060, both the equilibrium and transient GCM scenarios we use suggest a major increase in drought conditions. Under these scenarios, Northcentral U.S. breeding duck populations would fluctuate around means of 2.1 or 2.7 million ducks based on the two GCMs, respectively, instead of the present long-term mean of 5.0 million. May pond numbers would fluctuate around means of 0.6 or 0.8 million ponds instead of the present mean of 1.3 million. The results suggest that the ecologically and economically important PPR could be significantly damaged by climate changes typically projected. We make several recommendations for policy and research to help mitigate potential effects.
    Materialart: Digitale Medien
    Standort Signatur Erwartet Verfügbarkeit
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