Economics of Optimization of Fat Levels in Turkey Diets

Although a good deal of empirical research is available on the measurement of turkey body weight gain response to fat supplementation, none has attempted to study the economics of optimizing fat level in turkey diets. This study focuses on deriving the optimal fat level in turkey diets. The methodology used should also apply to any nonruminant species (swine and poultry).     

Women and agricultural change in Latin America: Some concepts guiding research

We are not yet in a position to draw simple conclusions from the existing research literature in answer to the question of how the lives of rural women are affected by the processes of commercialization and capitalization in agriculture. The most serious problem inhibiting generalization has been the underlying conceptual and political differences among commentators. This article will explore and illuminate these conceptual differences, discuss the basic weaknesses of the ‘impact model’ (of agricultural change on women) most commonly adopted up to now, and indicate directions taken by alternative conceptualizations that stress the interplay of relations of gender with relations of class and ethnicity.     

拉锯战：2009年亚洲经济展望

虽然亚洲仍然很容易受到全球衰退及金融危机的影响，但其经济基本面还是要好于其他地区。假以时日，亚洲必定会因大宗商品价格下跌而受惠。最重要的是，亚洲决策者有采取颇具扩张性的货币及财政政策的意图和空间。不过政策响应需要一些时间才能发挥效用，而经济的负反馈循环已在形成。在第二轮经济效应（如失业增加、不良贷款上升及存货堆积）的制肘下，     

Inside the Crystal Ball of Finance: Understanding Financial Economists' Attitudes to Market and Society

Market economists are thought to wield tremendous power—not only over financial markets but over governments that stray from the ‘market way’. Still, there is mystery about what economists think, and how they form their judgements. This article reports results from a survey of over 50 financial market economists from leading financial institutions in Australia conducted in December 2003 and January 2004. It provides insight into the opinions of economists who impact on markets and policy, especially through media commentary. The article identifies their economic and social views, comparing them with the Australian public. We then examine how professional views of economists differ from their personal views. Differences in professional and private views—especially over the role of government and labour markets—are an opportunity to ponder how judgements are formed and used. We offer tentative answers to the question: do these professionals—highly paid for their opinions—occasionally self‐censor?     

The Ethical Mutual Fund Performance Debate: New Evidence from Canada

Although the academic interest in ethical mutual fund performance has developed steadily, the evidence to date is mainly sample-specific. To tackle this critique, new research should extend to unexplored countries. Using this as a motivation, we examine the performance and risk sensitivities of Canadian ethical mutual funds vis-à-vis their conventional peers. In order to overcome the methodological deficiencies most prior papers suffered from, we use performance measurement approaches in the spirit of Carhart (1997, Journal of Finance 52(1): 57–82) and Ferson and Schadt (1996, Journal of Finance 51(2): 425–461). In doing so, we investigate the aggregated performance and investment style of ethical and conventional mutual funds and allow for time variation in the funds’ systematic risk. Our␣Canadian evidence supports the conjecture that any␣performance differential between ethical mutual funds and their conventional peers is statistically insignificant.      

The Euro Illusion in Consumers’ Price Estimation: An Italian–Irish Comparison in the Third Year of the Euro

The euro illusion is a transient phenomenon that consists of currency-related asymmetries in the intuitive judgment of product prices made by consumers. The results of a cross-country study in the third year after the introduction of the euro show a strong price estimation asymmetry in a country with an extreme exchange rate (Italy) and a weaker effect in a country in which the nominal values of the new and the old currency are much closer (Ireland). These results rule out proposed explanations of the euro illusion in price estimation that assume the sole influence of plausible anchors (reference prices stored in memory within the plausible price range), supporting instead accounts also endorsing the role of implausible anchors (reference prices outside the plausible price range). Beyond contributing to our theoretical understanding of the euro illusion, this research starts to unveil the interplay between structural factors (i.e., the currency exchange rate) and psychological mechanisms that produce long-lasting difficulties for consumers after a monetary changeover.

An Empirical Investigation of Trade Credit Demand

This paper investigates the motivations for a firm's demand for trade credit. Demand for credit is modelled as a function of transaction costs motivations, financing motivations, operational considerations, seller compliance issues and supplier marketing, whilst controlling for the firm's business environment and for firm characteristics such as size and industry. This paper builds on previous studies by considering a wider range of factors that can affect trade credit demand holistically on a single sample. It appears that the use of trade credit is widespread, and that it is generally perceived as an important short term financing option, although the availability of trade credit is not a major influence on supplier choice. The level of a firm's trade credit demand is found to be significantly influenced by transaction costs, financing, operational issues, marketing activities by suppliers, the firm's investment in trade debtors and firm size.     

High Natural Gas Prices in California, 2000–2001: Causes and Lessons

The market prices of natural gas delivered to California rose to unprecedented levels in late 2000 and remained well above levels elsewhere in the country until the summer of 2001 (Figure 1). In addition to the direct impact on natural gas consumers, the high natural gas prices were also a major cause of the high electricity costs suffered by California and other western states in the June 2000–June 2001 period. This paper describes the market and regulatory circumstances that led to such high prices over such an extended period. Lessons are drawn from this experience for other regions wishing to understand and avoid such problems in natural gas markets.