Do energy prices affect employment? Decomposed international evidence

This paper analyzes the energy price-employment nexus and contributes to the literature by showing that it is important to decompose the regulatory effect into demand, cost, and factor-shift effects. This is done by means of a cross-country multi-sectoral dataset. The results show that both rising energy prices and shadow prices of energy have no significant effect on net employment when the manufacturing sectors only are analyzed. While finding significant variations across countries, the average employment effects become significantly positive once jobs in the economy as a whole are considered. This change is driven mainly by larger positive cost effects, which more than offset the negative demand effects and reductions in the positive factor-shift effects. Moreover, the paper reveals that the often implemented approach of using a simple regulation regressor, instead of decomposing the employment effect, can result in biased estimates.     

Soil Lead at Elementary Public Schools: Comparison Between School Properties and Residential Neighbourhoods of New Orleans

Soil studies, conducted in Maryland, Minnesota and Louisiana, have described the urban pattern of lead contamination. They have shown that the highest amounts of lead cluster within the interior of the largest cities. The results of the New Orleans urban patterns of distribution of soil lead provided the basis for further study. The hypothesis was tested that elementary school properties have the same pattern of soil lead contamination as their neighbouring residential communities. Thirty New Orleans Public Elementary Schools were selected for this study. Surface samples (2.5cm or 1 inch depth) were collected from playgrounds and next to entrances of each school. Results showed that soil lead on school properties follows the same relative contamination patterns (pvalue10^–5) as soil lead on residential properties of neighbouring communities. Schools however, have significantly lower lead contamination than the neighbouring residential properties. Innercity school properties present a higher risk of soil lead exposure than mid and outercity schools. Soils next to innercity school entrances showed the highest lead, with 18.5% having concentrations over 400gg^–1. Systematic landscaping around the school entrances would significantly reduce the hazard from lead dust contaminated soils.     

2株苯胺降解的分离鉴定及其降解特性研究

从处理印染废水的活性污泥中分离得到2株苯胺降解菌,从菌落、细胞形态、生理生化及16S rRNA基因扩增测序等方面对2株菌进行了鉴定,并比较分析2株菌在好氧与缺氧条件下的苯胺降解、偶氮染料脱色及苯胺脱氨氧化酶基因tdnQ和黄素还原酶基因(fre)的携带情况.结果表明,2株菌属于Pseudomonas属和Shewanella属,分别命名为Pseudomonas sp.AN30和Shewanella sp.DN425.AN30菌株在振荡好氧条件下72h内对250mg/L苯胺的降解率为96.1%,DN425菌株的降解率为13.8%;在静置缺氧条件下AN30菌株的苯胺降解率为39.6%,DN425菌株的降解率仅为8.6%.DN425菌株在静置缺氧条件下4h内可将初始浓度为50 mg/L的偶氮染料酸性大红彻底脱色,而AN30菌株对酸性大红不具有脱色能力.以总DNA为模板,分别用tdnQ基因和fre基因特异性引物进行扩增,2株菌均能扩增出大小分别为380bp和630bp左右的目标条带,显示2菌株均携带有苯胺脱氨氧化酶基因和黄素还原酶基因.     

Dynamics of global oil prices,exchange rate and precious metal prices in India

This study examines cointegration and Granger causality among global oil prices, precious metal (Gold, Platinum and Silver) prices and Indian Rupee–US Dollar exchange rate using daily data spanning from 2nd January 2009 to 30th December 2011. ARDL bounds tests indicate that the series are cointegrated. Toda–Yamamoto version of Granger causality has been employed to establish the causation amongst the variables. The study also examines generalized error variance decomposition of variables due to various shocks in the system. Such information provides insight into the transmission links between the global oil market and the Indian precious metals and foreign exchange market. These have the potential for significant impact in further research, portfolio management and central bank policy design.     

Natural resources,governance and institutional quality: The role of resource funds

This paper investigates the relationship between resource funds, governance and institutional quality in resource-rich countries. The study is motivated by the relatively recent and inconclusive debate on resource funds and on their role in the addressing of the “resource curse”. The estimation results suggest that resource funds may be associated with governance and institutional quality improvements. The analysis complements the debate on the tools of addressing the “resource curse” and on the determinants of governance and institutional quality. The findings remain important for their policy implications. The estimation results suggest that resource funds may prove useful tools in the hands of the policy makers in the attempt to address governance and institutional quality deterioration induced by resource abundance.     

The legal environmental risk analysis (LERA) sample of mining and the environment in Turkish legislation

As advancing technology and increasing demands for natural resources continue to mount pressure on the environment, environmental conservation and sustainable management have become ever more important. Individual countries have been increasingly taking action to reduce environmental destruction caused by human activities in an attempt to find a balance in between the necessary exploitation of resources and environmental conservation. In Turkey, the struggle between environmental conservation and mining activities is set within the legal context, with the requisite legal regulations (which describe various procedures) in the midst of being updated or renewed. The legal environmental risk analysis (LERA), beginning by discussing the main legal regulations of environmental conservation in relation to mining activities, defines basic environmental components which form the basis of environmental conservation in relation to mining, and analyzes the impact of mining on each component. The analysis (LERA) finishes with an evaluation of the components as they currently stand and makes some suggestions for the improvement of insufficient regulations.     

Byproduct production of minor metals: Threat or opportunity for the development of clean technologies? The PV sector as an illustration

Today, the fight against global warming and the coming hydrocarbon exhaustion involve a drastic increase of clean energies. These technologies resort to many minor metals which are byproduct of major metals. We will take the definition of Hagelüken and Mesker (2010, Complex Life Cycles of Precious and Special Metals. In: Edition Thomas E. Graedel, Ester van der Voet (Eds.), Strüngmann Forum Report, Linkages of Sustainability, MIT Press) to show precisely what minor metals are: “[they are] metals that have relatively low production or usage, which occur in low ore concentrations, are regarded as rare, or are not traded at major public exchanges”. We will analyze the byproduct status affecting almost each minor metal in order to determine if the link with the metal main product can involve a threat for clean technology development. This paper will also deal with the theory and implications of the relationship between the byproduct and the main-product and then check it with empirical data. Until now, byproduct metal production and its variations seem relatively independent from major metal production thanks to the non-saturation of potential supply. By 2050, photovoltaic solar development should not lead to the saturation of potential supply.     

The evolution of the Canadian mining industry: The role of regulatory punctuation

In this study, we analyze the evolution of Canada's mining industry from 1929 to 2006, focussing on the determinants of the number of firms in the industry and why this number changed over that period. Most empirical studies of industry evolution have focused on manufacturing industries that share similar structural characteristics. Perhaps because of this, extant models of industry evolution tend to ignore industry-specific and national-specific factors that can cause atypical trajectories, that is, heterogeneous industry evolution. Initial inspection of the Canadian mining industry shows that it is atypical in that it exhibits “negative skew” over time in the number of firms rather than the typical “positive skew.” We review two dominant theoretical approaches to industry evolution: the density-dependence theory and variants of industrial organization economics. We also consider possible sources of industry evolution heterogeneity, focussing particularly on “regulatory punctuation”. Using Canadian mining data, we find that the traditional models do not fully explain the changes in population size in Canada's mining industry. As a result, we introduce a number of hybrid models. The results from these hybrid models suggest that Canadian-specific regulatory punctuations, particularly the introduction of significant new taxes, environmental legislation, and incentives have shaped the trajectory of mining firm participation.     

The macroeconomic determinants of volatility in precious metals markets

This paper models the monthly price volatilities of four precious metals (gold, silver, platinum and palladium prices) and investigates the macroeconomic determinants (business cycle, monetary environment and financial market sentiment) of these volatilities. Gold volatility is shown to be explained by monetary variables, but this is not true for silver. Overall, there is limited evidence that the same macroeconomic factors jointly influence the volatility processes of the four precious metal price series, although there is evidence of volatility feedback between the precious metals. These results are consistent with the view that precious metals are too distinct to be considered a single asset class, or represented by a single index. This finding is of importance for portfolio managers and investors.     

Green accounting and sustainability of the Peruvian metal mining sector

This paper estimates the true economic income of Peru’s metal mining sector for the period 1992–2006, using a model of green economic income based on Hamilton (2000). The total depletion of natural capital caused by metal mining is calculated by estimating, on the one hand, the depreciation of mining resources (using the Hotelling rent approach) and, on the other, the environmental degradation provoked by metal mining activities. The results show that the total loss of natural capital represents between 31% and 51% of the metal mining GDP and between 2% and 4.9% of Peru’s GDP. On the other hand, correcting the usual GDP measure produced by the traditional National Account System (NAS) for the total loss of natural capital caused by mining activities shows that the GDP traditional measure overestimated by 51–64% the true economic income generated by Peruvian's metal mining sector during the period 1992–2006. The importance of the generation, taxation, and disposition of mining economic rents for Peru’s sustainable development in the future is also discussed.