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- Daunfeldt, Sven-Olov, 1970-, et al.
(författare)
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Taxation, dividend payments and ex-day price-changes
- 2009
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Ingår i: Multinational Finance Journal. - : EBSCO Industries, Inc.. - 1096-1879. ; 13:1/2, s. 141-160
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Tidskriftsartikel (refereegranskat)abstract
- The purpose of the paper is to study the effect of taxation on dividend payments and ex-dividend price-changes in Sweden during 1991-1995. Tax changes in Sweden during the 1990s were implemented in such a way that they provide an opportunity to include direct measures of the tax-treatment of dividends and capital gains in the empirical analysis, in contrast to previous studies. The results indicate that tax-reforms can have large effects on dividend payments, while the effects on ex-dividend price-changes are less conclusive.
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| 4. |
- Govindarajan, A. F., et al.
(författare)
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The highly toxic and cryptogenic clinging jellyfish Gonionemus sp. (Hydrozoa, Limnomedusae) on the Swedish west coast
- 2019
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Ingår i: Peerj. - : PeerJ. - 2167-8359. ; 7
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Tidskriftsartikel (refereegranskat)abstract
- The clinging jellyfish Gonionemus sp. is a small hydromedusa species known historically from the Swedish west coast but not reported in recent times. This species is thought to be native to the northwest Pacific where it is notorious for causing severe stings in humans and is considered invasive or cryptogenic elsewhere. This year, unlike in the past, severe stings in swimmers making contact with Gonionemus sp. medusae occurred in Swedish waters from a sheltered eelgrass bed in the inner Skagerrak archipelago. To the best of our knowledge, this is only the second sting record of Gonionemus sp. from the Northeast Atlantic-with the first record occurring off the Belgian coast in the 1970s. Stinging Gonionemus sp. medusae have also been recently reported from the northwestern Atlantic coast, where, like on the Swedish coast, stings were not reported in the past. We analyzed sea surface temperature data from the past 30 years and show that 2018 had an exceptionally cold spring followed by an exceptionally hot summer. It is suggested that the 2018 temperature anomalies contributed to the Swedish outbreak. An analysis of mitochondrial COI sequences showed that Swedish medusae belong to the same clade as those from toxic populations in the Sea of Japan and northwest Atlantic. Gonionemus sp. is particularly prone to human-mediated dispersal and we suggest that it is possible that this year's outbreak is the result of anthropogenic factors either through a climate-driven northward range shift or an introduction via shipping activity. We examined medusa growth rates and details of medusa morphology including nematocysts. Two types of penetrating nematocysts: euryteles and b-mastigophores were observed, suggesting that Gonionemus sp. medusae are able to feed on hard-bodied organisms like copepods and cladocerans. Given the now-regular occurrence and regional spread of Gonionemus sp. in the northwest Atlantic, it seems likely that outbreaks in Sweden will continue. More information on its life cycle, dispersal mechanisms, and ecology are thus desirable.
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| 6. |
- Selander, Carina, 1970-
(författare)
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Chartist trading in exchange rate theory
- 2006
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis consists of four papers, of which paper 1 and 4 are co-written with Mikael Bask. Paper [1] implements chartists trading in a sticky-price monetary model for determining the exchange rate. It is demonstrated that chartists cause the exchange rate to "overshoot the overshooting equilibrium" of a sticky-price monetary model. Chartists base their trading on a short-long moving average. The importance of technical trading depends inversely on the time horizon in currency trade. The exchange rate's perfect foresight path near long-run equilibrium is derived and it is demonstrated that the shorter the time horizon, the greater the exchange rate overshooting. The aim of Paper [2] is to see how the dynamics of the basic target zone model changes when chartists and fundamentalists are introduced. Chartists use technical trading and the relative importance of technical and fundamental analyses depend on the time horizon in currency trade. The model also includes realignment expectations, which increase with the weight of chartists. The introduction of chartists may significantly reduce and reverse, the so-called "honeymoon effect" of a fully credible target zone. Further, chartists may cause the correlation between the exchange rate and the instantaneous interest rate differential to become either positive or negative. Using a chartist-fundamentalist set-up, Paper [3] derives the effects on the current exchange rate of central bank intervention. Fundamentalists have rational expectations and chartists use so called support and resistance levels in their trading. This technique results in chartists having both bandwagon expectations and regressive expectations. Chartists may enhance or suppress the effect of intervention depending on their expectations. The results indicate that a chartist channel exists. The aim of Paper [4] is threefold; (i) to investigate if there is a unique rational expectations equilibrium (REE) in a new Keynesian macroeconomic model augmented with technical trading, (ii), to investigate if the unique REE is adaptively learnable and, (iii), to investigate if this unique and adaptively learnable REE is desirable in an inflation rate targeting regime. The monetary authority is using a Taylor rule when setting the interest rate. A main conclusion is that a robust Taylor rule implies that the monetary authority should increase (decrease) the interest rate when the CPI inflation rate increases (decreases) and when the currency gets stronger (weaker).
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| 8. |
- Selander, Carina, 1970-, et al.
(författare)
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The impacts of microcredits : a case study from Kenyan agriculture
- 2006
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Ingår i: Journal of Development Alternatives and Area Studies. - 1651-9728. ; 25:1-2, s. 5-20
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Tidskriftsartikel (refereegranskat)abstract
- Microcredits to agriculture have come into vogue in the past fifteen years and are frequently seen as an important way of increasing agricultural production in developing countries, but there has been surprisingly little research on what the effects on production actually are, or on what types of microlending work best. Inkind microcredits in the form of seelings, fertilizer etc., have the advantage of being directly tied to productive activities, but on the other hand they have the drawback of limiting the scope of choices available to the farmers taking the loans. In this paper, we estimate the respective impacts of cash and in-kind microcredits on milk and coffee production in a Kenyan farming region, and compare these effects to those that we estimate would have occurred if no microcredits had been available and if all microcredits had been in cash or in kind, respectively. We find that, in these two types of farming, cash credits boost production considerably more than in-kind lending does.
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| 9. |
- Selander, Erik, 1973, et al.
(författare)
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Copepods drive large-scale trait-mediated effects in marine plankton
- 2019
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Ingår i: Science Advances. - : American Association for the Advancement of Science (AAAS). - 2375-2548. ; 5
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Tidskriftsartikel (refereegranskat)abstract
- Copyright © 2019 The Authors. Fear of predation may influence food webs more than actual predation. However, the mechanisms and magnitude of nonconsumptive predator effects are largely unknown in unicellular-dominated food webs such as marine plankton. We report a general mechanism of chemically induced predator effects in marine plankton. Copepods, the most abundant zooplankton in the oceans, imprint seawater with unique polar lipids—copepodamides—which trigger toxin production and bioluminescence in harmful dinoflagellates. We show that copepodamides also elicit defensive traits in other phytoplankton, inducing the harmful algal bloom-forming diatom Pseudo-nitzschia seriata to produce 10 times more toxins, and colony-forming diatoms to decrease colony size by half. A 1-year study in the northeast Atlantic revealed that natural copepodamide concentrations are high enough to induce harmful algal toxins and size reduction in dominant primary producers when copepods are abundant. We conclude that copepodamides will structure marine plankton toward smaller, more defended life forms on basin-wide scales.
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