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How much does real GDP respond to unanticipated changes in the real price of oil? Commonly used censored VAR models suggest a substantial decline in real GDP in response to unexpected increases in the real price of oil, yet no response to unexpected declines. We show that these estimates are invalid. Based on a structural model that encompasses both symmetric and asymmetric models as special cases, correctly computed impulse responses are of roughly the same magnitude in either direction, consistent with formal tests for symmetric responses. We discuss implications for theoretical models and for policy responses to energy price shocks.
Noise exposure is known to cause hearing loss and a variety of disturbances, such as annoyance, hypertension and loss of sleep. It is generally accepted that these situations are caused by the acoustical events processed by the auditory system. However, there are acoustical events that are not necessarily processed by the auditory system, but that nevertheless cause harm. Infrasound and low frequency noise (ILFN, <500Hz) are acoustical phenomena that can impact the human body causing irreversible organic damage to the organism, but that do not cause classical hearing impairment. Acoustical environments are normally composed of all types of acoustical events: those that are processed by the auditory system, and those...
An integrated high resolution tide and storm surge model has been developedfor all of coastal Alaska. The model uses the ADCIRC basin-to-channelscale unstructured grid circulation code. Tidal forcing from global tidal modelsand meteorological forcing from the Climate Forecast System Reanalysisare used. The model’s tidal solution has been validated at 121 shelf andnearshore stations. The model’s skill has been investigated for summer, falland winter storms. Sea ice has been incorporated through a parameterizedwind drag coefficient which modifies the air-sea drag under ice coverage.Three large storms with distinctly different ice coverages were chosen to exhibitthe effect of sea ice on the resulting storm surge. The...
Categories: Data, Publication; Types: Citation; Tags: Academics & scientific researchers, COASTAL AREAS, COASTAL AREAS, COASTAL PROCESSES, COASTAL PROCESSES, All tags...
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ire-induced permafrost degradation is well documented in boreal forests, but the role of fires in initiating thermokarst development in Arctic tundra is less well understood. Here we show that Arctic tundra fires may induce widespread thaw subsidence of permafrost terrain in the first seven years following the disturbance. Quantitative analysis of airborne LiDAR data acquired two and seven years post-fire, detected permafrost thaw subsidence across 34% of the burned tundra area studied, compared to less than 1% in similar undisturbed, ice-rich tundra terrain units. The variability in thermokarst development appears to be influenced by the interaction of tundra fire burn severity and near-surface, ground-ice content....
How much does real GDP respond to unanticipated changes in the real price of oil? Commonly used censored VAR models suggest a substantial decline in real GDP in response to unexpected increases in the real price of oil, yet no response to unexpected declines. We show that these estimates are invalid. Based on a structural model that encompasses both symmetric and asymmetric models as special cases, correctly computed impulse responses are of roughly the same magnitude in either direction, consistent with formal tests for symmetric responses. We discuss implications for theoretical models and for policy responses to energy price shocks.
By replacing fossil fuels bioenergy has the potential to reduce greenhouse gas (GHG) emissions, but indirect effects might partly or even completely eliminate this benefit. Production of bio-energy products, such as biofuels for transport, causes several indirect effects through their interactions with the global economic and physical systems. Indirect land-use change leads to GHG emissions – in some cases in the same order of magnitude as the fossil emissions – and loss of nature, but there are other relevant indirect effects as well. Intensification of agricultural production is another indirect effect and could be stimulated more to minimise the undesirable land conversion. However, intensification through increased...
How much does real GDP respond to unanticipated changes in the real price of oil? Commonly used censored VAR models suggest a substantial decline in real GDP in response to unexpected increases in the real price of oil, yet no response to unexpected declines. We show that these estimates are invalid. Based on a structural model that encompasses both symmetric and asymmetric models as special cases, correctly computed impulse responses are of roughly the same magnitude in either direction, consistent with formal tests for symmetric responses. We discuss implications for theoretical models and for policy responses to energy price shocks.
Noise exposure is known to cause hearing loss and a variety of disturbances, such as annoyance, hypertension and loss of sleep. It is generally accepted that these situations are caused by the acoustical events processed by the auditory system. However, there are acoustical events that are not necessarily processed by the auditory system, but that nevertheless cause harm. Infrasound and low frequency noise (ILFN, <500Hz) are acoustical phenomena that can impact the human body causing irreversible organic damage to the organism, but that do not cause classical hearing impairment. Acoustical environments are normally composed of all types of acoustical events: those that are processed by the auditory system, and those...
The success of carbon capture, storage and sequestration as a greenhouse gas mitigation strategy will be, in part, dependent on the regulatory framework used to govern its implementation. Creating a science-based regulatory framework that is designed with enough flexibility to encourage greenhouse gas offset activity, effective means of measuring the costs of taking action to reduce greenhouse gas emissions, and ample protection for human and ecosystem health may prove challenging. For the purposes of this paper we will assume that there is an existing incentive to capture, store and sequester carbon and focus on how to regulate the process. Accounting practices and precursory crediting rules for biological sinks...


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