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Commodity Currency: An Alternative Route to Currency Union  [PDF]
Ian McFarlane
Modern Economy (ME) , 2012, DOI: 10.4236/me.2012.32019
Abstract: Proposals have been made for a common currency for East Asia, but the countries preparing to participate need to be in a state of economic convergence. We show that at least six countries of East Asia already satisfy this condition. There also needs to be a mechanism by which the new currency relates to other reserve currencies. We demonstrate that a numéraire could be defined solely from the actual worldwide consumption of food and energy per capita, linked to fiat currencies via world market prices. We show that real resource prices are stable in real terms, and likely to remain so. Furthermore, the link from energy prices to food commodity prices is permanent, arising from energy inputs in agriculture, food processing and distribution. Calibration of currency value using a yardstick such as our SI numéraire offers an unbiased measure of the consistently stable cost of subsistence in the face of volatile currency exchange rates. This has the advantage that the participating countries need only agree to currency governance based on a common standards institution, a much less onerous form of agreement than would be required in the creation of a common central bank.
Robust monetary policy in a currency union  [PDF]
Kuznetsova Olga
Panoeconomicus , 2012, DOI: 10.2298/pan1202185k
Abstract: A great number of recent researches have found importance of country specific shocks for optimal monetary policy construction in the context of a currency union. This however has been almost completely overlooked by the analysis of optimal monetary policy under model uncertainty. The main purpose of our work is to fill this gap. By using a model of a two-country currency union with sticky prices, we have derived robust monetary policy that works reasonably well even in the worst case of model perturbations. We find some anti-attenuation effect of uncertainty, and show that the central bank’s optimal reaction to economic shocks becomes more aggressive with an increase in the extent of misspecification.
EURO Based Currency Union: Motivation for Muslim Countries’ Economic Growth  [cached]
Mohammad Naveed Ahmed,Kanya Hemman
International Journal of Business and Management , 2011, DOI: 10.5539/ijbm.v6n3p136
Abstract: In economics, a monetary union is a situation where several countries have agreed to share a single currency (also known as a unitary or common currency) among them, for example, the EURO currency. A currency union differs from an economic and monetary union, where it is not just currency but also economic policy that is pooled or coordinated by a region. This paper will look into the EURO currency based currency union to see whether it really improves the member countries economic performance or not, which might be the motivation for Muslim countries to organize a currency union for their growth. To do this research, the economic data are collected from the World Bank Development Indicators database.
THE APPLICATION OF OPTIMUM CURRENCY AREA CRITERIA TO EUROPEAN MONETARY UNION
CRISTIAN SOCOL,MARIUS-CORNELIU MARINAS,AURA-GABRIELA SOCOL
Challenges of the Knowledge Society , 2011,
Abstract: Debt crisis in several Member States of the euro area has reopened discussions regarding the sustainability of European Monetary Union. Adoption of the single currency has proven to be more costly for the economies which are structurally divergent from the core euro area economies (Germany, France, Italy). In this study I analyze the opportunity of a country to be part of the European Monetary Union on the basis of optimum currency area criteria. According to them, the euro area is characterized by an increase in trade and financial integration between member States, by emphasizing differences in competitiveness and lack of automatic fiscal transfers. If monetary union will not be completed by a fiscal union, the European monetary construction will be one vulnerable and benefits of joining to this will decrease.
Pacific Islands Families Study: Risk and Protective Factors Associated with Delinquent Behaviour in Pacific 11-Year-Olds  [PDF]
Janis Paterson, El-Shadan Tautolo, Leon Iusitini, Steve Taylor, Richard Siegert
Psychology (PSYCH) , 2016, DOI: 10.4236/psych.2016.77096
Abstract: This paper examines risk and protective factors associated with delinquent behaviour among Pacific youth living in New Zealand (NZ). As part of the longitudinal Pacific Islands Families study, 11-year-olds Pacific youth participated in multidisciplinary interviews which included questions about involvement in delinquent behaviours. Peer pressure was the strongest risk factor for delinquency, and protective factors were higher self-perception, teacher evaluation scores, and perceived support from friends. Pacific boys reported significantly more delinquent behaviours than Pacific girls. Maternal acculturation was significantly associated with the delinquent behaviour of youth. Youth of mothers categorized as integrators (high Pacific/high NZ) having lower odds for delinquency than youth of mothers categorized as assimilators (low Pacific/high NZ). Youth from the largest Pacific Island groups (Samoa, Tonga and Cook Islands) were also significantly more likely to engage in delinquent behaviour than those from smaller island groups. Implications of these findings for prevention and further research are discussed.
Ciguatera Fish Poisoning in the Pacific Islands (1998 to 2008)  [PDF]
Mark P. Skinner,Tom D. Brewer,Ron Johnstone,Lora E. Fleming,Richard J. Lewis
PLOS Neglected Tropical Diseases , 2011, DOI: 10.1371/journal.pntd.0001416
Abstract: Background Ciguatera is a type of fish poisoning that occurs throughout the tropics, particularly in vulnerable island communities such as the developing Pacific Island Countries and Territories (PICTs). After consuming ciguatoxin-contaminated fish, people report a range of acute neurologic, gastrointestinal, and cardiac symptoms, with some experiencing chronic neurologic symptoms lasting weeks to months. Unfortunately, the true extent of illness and its impact on human communities and ecosystem health are still poorly understood. Methods A questionnaire was emailed to the Health and Fisheries Authorities of the PICTs to quantify the extent of ciguatera. The data were analyzed using t-test, incidence rate ratios, ranked correlation, and regression analysis. Results There were 39,677 reported cases from 17 PICTs, with a mean annual incidence of 194 cases per 100,000 people across the region from 1998–2008 compared to the reported annual incidence of 104/100,000 from 1973–1983. There has been a 60% increase in the annual incidence of ciguatera between the two time periods based on PICTs that reported for both time periods. Taking into account under-reporting, in the last 35 years an estimated 500,000 Pacific islanders might have suffered from ciguatera. Conclusions This level of incidence exceeds prior ciguatera estimates locally and globally, and raises the status of ciguatera to an acute and chronic illness with major public health significance. To address this significant public health problem, which is expected to increase in parallel with environmental change, well-funded multidisciplinary research teams are needed to translate research advances into practical management solutions.
Acculturation of Pacific mothers in New Zealand over time: findings from the Pacific Islands Families study
Philip J Schluter, El-Shadan Tautolo, Janis Paterson
BMC Public Health , 2011, DOI: 10.1186/1471-2458-11-307
Abstract: Pacific mothers of a cohort of Pacific infants born at a large tertiary hospital in South Auckland in 2000 were interviewed at 6-weeks, 4-years and 6-years postpartum. At each measurement wave a home interview lasting approximately 90 minutes was conducted with each mother. Adapting the General Ethnicity Questionnaire, two scales of acculturation were elicited: one measuring New Zealand cultural orientation (NZAccult) and one measuring Pacific Islands cultural orientation (PIAccult). Acculturation scores were standardised and analysed using random intercept polynomial and piecewise mixed-effects regression models, accounting for the longitudinal nature of the repeated measured data. Mothers who immigrated to New Zealand and those who lived their lives in New Zealand were investigated separately.Overall, 1276 Pacific mothers provided 3104 NZAccult and 3107 PIAccult responses over the three measurement waves. Important and significant differences were observed in both bi-directional acculturation measures between the two maternal groups studied. New Zealand cultural orientation increased, on average, linearly with years lived in New Zealand both for immigrant mothers (0.013 per year, 95% CI: 0.012, 0.014), after adjusting for maternal age, and for mothers who lived their lives in New Zealand (0.008 per year, 95% CI: 0.06, 0.010). Immigrant mothers maintained their Pacific cultural orientation for, on average, 12 years before it began to linearly decrease with each year lived in New Zealand thereafter (-0.009 per year, 95% CI: -0.010, -0.008), after adjusting for maternal age. Mothers who lived their lives in New Zealand had a Pacific orientation that was, on average, unchanged regardless of the number of years lived in New Zealand. Significant ethnic and socio-demographic variations were noted.Understanding the patterns and trajectories of acculturation over time, and its key determinants, is necessary for the development of appropriate targeted health policy and care
Nature and Extent of Shocks in COMESA: Implications for a Monetary Union  [PDF]
Lucas K. Njoroge,Jacob Opolot,Charles Abuka,Jimmy Apaa-Okello
Interdisciplinary Journal of Research in Business , 2011,
Abstract: The purpose of the study is to investigate whether a monetary union between economies of the Common Market for Eastern and Southern Africa (COMESA) is viable by analyzing the nature, extent and consequences of shocks in these economies during 1990-2009. This study analyzes internal shocks captured by demand and supply shocks, and external shocks captured by exchange rate shocks. The study adopts the Vector Autoregressive (VAR) approach to identify and analyze shocks based on the aggregate demand-aggregate supply framework, while for external shocks, exchange rates variability, symmetry and persistence is analyzedfollowing the framework developed by Von Hagen and Neumann (1994).The empirical results suggest that there is a possibility for a monetary union in the COMESA region. However, an untimely monetary union can hurt the participating economies by exposing them to large variations in prices to facilitate real exchange adjustments. In addition, with less than optimal factor mobility in these countries and in the absence of an effective compensating mechanism, a monetary union might make these countries more vulnerable to shocks, thereby limiting the potential benefits of monetary integration.
Feeding grounds of the eastern South Pacific humpback whale population include the South Orkney Islands
Luciano Dalla Rosa,Fernando Félix,Peter T. Stevick,Eduardo R. Secchi
Polar Research , 2012, DOI: 10.3402/polar.v31i0.17324
Abstract: This paper reports on two photo-identified humpback whales (Megaptera novaeangliae) that were sighted in different years in the proximity of the South Orkney Islands, at the boundary between the Scotia and Weddell seas (60°54.5'S—46°40.4'W and 60°42.6'S—45°33'W). One of the whales had been previously sighted off Ecuador, a breeding ground for the eastern South Pacific population. The other whale was subsequently resighted in Bransfield Strait, off the western Antarctic Peninsula, a well-documented feeding ground for the same population. These matches give support to a hypothesis that the area south of the South Orkney Islands is occupied by whales from the eastern South Pacific breeding stock. Consequently, we propose 40°W as a new longitudinal boundary between the feeding grounds associated with the eastern South Pacific and western South Atlantic breeding stocks.
Amphidromy Links a Newly Documented Fish Community of Continental Australian Streams, to Oceanic Islands of the West Pacific  [PDF]
Paul A. Thuesen, Brendan C. Ebner, Helen Larson, Philippe Keith, Rebecca M. Silcock, Jason Prince, David J. Russell
PLOS ONE , 2011, DOI: 10.1371/journal.pone.0026685
Abstract: Background Indo-Pacific high island streams experience extreme hydrological variation, and are characterised by freshwater fish species with an amphidromous life history. Amphidromy is a likely adaptation for colonisation of island streams following stochastic events that lead to local extirpation. In the Wet Tropics of north-eastern Australia, steep coastal mountain streams share similar physical characteristics to island systems. These streams are poorly surveyed, but may provide suitable habitat for amphidromous species. However, due to their ephemeral nature, common non-diadromous freshwater species of continental Australia are unlikely to persist. Consequently, we hypothesise that coastal Wet Tropics streams are faunally more similar, to distant Pacific island communities, than to nearby faunas of large continental rivers. Methods/Principal Findings Surveys of coastal Wet Tropics streams recorded 26 species, 10 of which are first records for Australia, with three species undescribed. This fish community is unique in an Australian context in that it contains mostly amphidromous species, including sicydiine gobies of the genera Sicyopterus, Sicyopus, Smilosicyopus and Stiphodon. Species presence/absence data of coastal Wet Tropics streams were compared to both Wet Tropics river networks and Pacific island faunas. ANOSIM indicated the fish fauna of north-eastern Australian coastal streams were more similar to distant Pacific islands (R = 0.76), than to nearby continental rivers (R = 0.98). Main Conclusions/Significance Coastal Wet Tropics streams are faunally more similar to distant Pacific islands (79% of species shared), than to nearby continental fauna due to two factors. First, coastal Wet Tropics streams lack many non-diadromous freshwater fish which are common in nearby large rivers. Second, many amphidromous species found in coastal Wet Tropics streams and Indo-Pacific islands remain absent from large rivers of the Wet Tropics. The evolutionary and conservation significance of this newly discovered Australian fauna requires clarification in the context of the wider amphidromous fish community of the Pacific.
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