The Performance and Long-Run Driving Forces of Securitised Property in the Australian and United Kingdom Markets

2007 ◽  
2005 ◽  
pp. 133-143 ◽  
Author(s):  
E. Balashova

The method of analyzing and modeling cyclical fluctuations of economy initiated by F. Kydland and E. Prescott - the 2004 Nobel Prize winners in Economics - is considered in the article. They proposed a new business cycle theory integrating the theory of long-run economic growth as well as the microeconomic theory of consumers and firms behavior. Simple version of general dynamic and stochastic macroeconomic model is described. The given approach which was formulated in their fundamental work "Time to Build and Aggregate Fluctuations" (1982) gave rise to an extensive research program and is still used as a basic instrument for investigating cyclical processes in economy nowadays.


The Holocene ◽  
2012 ◽  
Vol 23 (1) ◽  
pp. 46-56 ◽  
Author(s):  
Eva Jamrichová ◽  
Péter Szabó ◽  
Radim Hédl ◽  
Petr Kuneš ◽  
Přemysl Bobek ◽  
...  

The issue of continuity in deciduous oakwood vegetation has been in the forefront of woodland ecological studies for many decades. The two basic questions that emerge from existing research are whether or not oakwoods can be characterized by long-term stability and what may be the driving forces of the observed stability or change. To answer these questions in a well-defined case study, we examined the history of a large subcontinental oakwood (Dúbrava) in the southeastern Czech Republic with interdisciplinary methods using palaeoecological and archival sources. Palaeoecology allowed us to reconstruct the vegetation composition and fire disturbances in Dúbrava in the past 2000 years, while written sources provided information about tree composition and management from the 14th century onwards. The pollen profiles show that the present oakwood was established in the mid-14th century with an abrupt change from shrubby, hazel-dominated vegetation to oak forest. This change was most probably caused by a ban on oak felling in ad 1350. From the 14th to the late 18th centuries Dúbrava had multiple uses, of which wood-pasture and hay-cutting kept the forest considerably open. The second remarkable change was dated to the late 18th century, when multiple-use management was abandoned and Dúbrava was divided into pasture-only and coppice-only parts. The last major shift occurred in the mid-19th century, when modern forestry and Scotch pine plantation became dominant. We conclude that Dúbrava Wood did not show stability in the long run and that its species composition has dramatically changed during the last two millennia. The most important driving force in the shaping and maintenance of the unique vegetation of Dúbrava was human management.


Author(s):  
Uta A. Balbier

This book provides a transnational history of Billy Graham’s revival work in the 1950s, zooming in on his revival meetings in London (1954), Berlin (1954/1960), and New York (1957). It shows how Graham’s international ministry took shape in the context of transatlantic debates about the place and future of religion in public life after the experiences of war and at the onset of the Cold War, and through a constant exchange of people, ideas, and practices. It explores the transnational nature of debates about the religious underpinnings of the “Free World” and sheds new light on the contested relationship between business, consumerism, and religion. In the context of Graham’s revival meetings, ordinary Christians, theologians, ministers, and church leaders in the United States, Germany, and the United Kingdom discussed, experienced, and came to terms with religious modernization and secular anxieties, Cold War culture, and the rise of consumerism. The transnational connectedness of their political, economic, and spiritual hopes and fears brings a narrative to life that complicates our understanding of the different secularization paths the United States, the United Kingdom, and Germany embarked on in the 1950s. During Graham’s altar call in Europe, the contours of a transatlantic revival become visible, even if in the long run it was unable to develop a dynamism that could have sustained this moment in these different national and religious contexts.


1995 ◽  
Vol 131 (2) ◽  
pp. 302-325 ◽  
Author(s):  
Iris Biefang-Frisancho Mariscal ◽  
Hans-Michael Trautwein ◽  
Peter Howells ◽  
Philip Arestis ◽  
Harald Hagemann

Tourism ◽  
2021 ◽  
Vol 70 (1) ◽  
pp. 28-42
Author(s):  
Mustafa Göktuğ Kaya ◽  
Stephen Taiwo Onifade ◽  
Ayhan Akpınar

The booming tourism sector in Turkey has resulted in major economic gains in terms of direct revenues to both government and private sectors alike. Turkey had more than 45 million visits in 2018, and top inbound arrivals were from Russia and European Union (EU) members, such as Germany, the United Kingdom, and Bulgaria, among others (Organization for Economic Co-operation and Development [OECD], 2020). However, terrorism is becoming a challenge to tourism development. This study explores terrorism–tourism dynamics in Turkey. The short- and long-run impacts of terror attacks on tourism revenues were examined within the framework of an autoregressive lag (ARDL) model using monthly data for the period between 2012 and 2018. The empirical findings did not support terrorism's effects on tourism revenues. However, in the long run, terror-related casualties and fatalities on tourism revenues had different effects. The findings affirm that the casualty rate has a stronger impact on terrorism–tourism dynamics in Turkey because a 1% increase in reported injuries from terror attacks hampers revenues by approximately 0.1%. Hence, adequate and continuous support for general security establishments is imperative while strengthening commitments to the international cooperation on the war against terrorism to proactively contain the undesirable impacts of terrorism in the Turkish tourism industry,


2019 ◽  
Vol 27 (4) ◽  
pp. 62-73 ◽  
Author(s):  
Mateusz Tomal

Abstract The aim of this study is to identify whether there is a common house price trend across provincial capitals in Poland. The log t regression is the main method of analysis. Additionally, traditional convergence tests based on the concepts of β- and σ-convergence are used. The obtained results indicate that the cities do not share a common price in the long-run. There are, however, convergence clubs on both primary and secondary markets. In each club, house prices across cities tend to converge to their own steady state. Moreover, research on the driving forces of convergence reports that factors affecting housing prices differ among the clubs. Therefore, policymakers should adjust housing policies in accordance with the characteristics of a given club. In turn, the σ-convergence model demonstrated a very interesting finding, namely, a U-shape pattern of convergence, both on the primary and secondary markets. This pattern is strictly correlated with the level of prices on the markets.


Significance The consensus among most economists is that whatever the eventual deal, the United Kingdom will be worse off in the long run as a result of leaving the EU. However, the economic impacts will be far from uniform across the country. Impacts The Labour Party is in a better position than the Conservatives to benefit from the increased salience of distributional issues. The automotive, chemicals and pharmaceuticals sectors and the local economies they support are disproportionately exposed. Opposition to trade deals could rise as workers may fear that a flood of cheap imports could threaten their jobs. There is a close association between health and wealth, so poorer areas falling further behind could mean worse health outcomes.


Author(s):  
Niels Blom ◽  
Brienna Perelli-Harris

Abstract Here we study how unemployment is related to partner relationship happiness in the United Kingdom. We investigate multiple dimensions of unemployment—current unemployment, changes in unemployment, duration of unemployment, and past unemployment—each of which provides unique insights into how economic uncertainty can strain relationships. Not including these aspects potentially leads to an underestimation of the long-term effect of unemployment and times when couples are especially affected. Using British longitudinal data (UK Household Longitudinal Study), we employ random and fixed regression analyses. The results highlight the gendered nature of relationships and employment within British couples. As found in previous studies, unemployment, particularly men’s unemployment, is associated with unhappier relationships. However, we find that over the long-run, relationship happiness declined and did not always recover. In addition, men’s re-employment did not solve problems rising from unemployment, especially for women, who continued to be less happy with the relationship when their male partner was unemployed in the recent past. Overall, the research showed that unemployment is not only related to relationship happiness at the time of unemployment, but had a scarring effect on relationship happiness.


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