Vertical specialization in North–South trade: Industrial relocation,wage and welfare

This paper presents a North–South trade model with vertically linked industries and examines how declining costs of trade across stages of production encourage vertical specialization and affect wages and welfare. As trade costs fall below a threshold, the production of all final goods relocates to the South and vertical specialization emerges. In some industries, production of intermediate goods also relocates against comparative costs because of benefits of co‐location, and further declines in trade costs lead to reshoring. A country may temporarily lose from falling trade costs, but both countries can be better off after trade costs fall sufficiently.     

Research Note: A High Resolution Graph Viewer for Multi-monitor Visualization Environment

Bigdata analysis is a hot topic in all fields of science. Particularly in scientific fields investigating data relations, observation and analysis of relation among diverse data sets has begun to play a role of great importance. A graph is a representative expression for the purpose and many graph viewers and tools prevail today. However, most of these graph viewers do not offer the capability for displaying graphs on a multi-monitor visualization environment, even though multi-monitor visualization environment facilitates scientists in understanding data in a more detailed and intuitive manner. In this paper, our first exploration towards a high resolution graph viewer for a multi-monitor visualization environment is explored and reported.     

On the long-term or short-term dependence in stock prices: Evidence from international stock markets

This study examines the short- and long-term dependence in the United States and 21 international equity market indexes. Two heteroscedastic-robust testing methods, the modified rescaled range analysis and the rescaled variance ratio test, are employed to test for the existence of dependence. The evidence consistently reveals the absence of long-term dependence in these 22 stock returns indexes. The random walk hypothesis for most, but not all, stock returns indexes is not rejected. When the random walk hypothesis is rejected, the evidence supporting the rejection is weak and the stochastic dependence occurs mainly in short-horizon, rather then long-horizon holding period returns.     

Implementation of HACCP in the risk management of medical waste generated from endoscopy

Medical waste poses health hazards, increases the environmental load and is costly to dispose of. To solve the above problems, we applied the hazard analysis and critical control point system (HACCP) to the management of wastes generated from endoscopy. First, the wastes in three hospitals were quantified. The number and weight of waste per case differed significantly among the three hospitals. Second, HACCP was applied to the endoscopy unit of Hospital X for a year. Wastes were segregated into five types and weighed. We found that 25.8% of ‘infectious waste’ was in fact ‘non‐infectious waste’ and ‘non‐infectious plastic waste’. The numbers of needles and needle caps did not correspond in two occasions (needle‐loss rate: 0.42%). Bacterial counts of the waste container were determined to investigate infection hazard. The counts were 0 cfu/cm² in all examinations except one occasion. The waste control manifests were reviewed, and all entries were consistent with the waste sent for disposal. In Hospital X where implementation of HACCP was attempted, reduction of environmental load and cutting of disposal cost are anticipated by changing the categories of waste segregation. The results suggest that hospital wastes should be managed more safely by HACCP.