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Inwood K, Oxley L, Roberts E. The mortality risk of being overweight in the twentieth century: Evidence from two cohorts of New Zealand men. Explor Econ Hist 2022; 86:101472. [PMID: 37637008 PMCID: PMC10448784 DOI: 10.1016/j.eeh.2022.101472] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Grants] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 08/29/2023]
Abstract
How have health and social mortality risks changed over time? Evidence from pre-1945 cohorts is sparse, mostly from the United States, and evidence is mixed on long-term changes in the risk of being overweight. We develop a dataset of men entering the NZ army in the two world wars, with objectively measured height and weight, and socioeconomic status in early adulthood. Our sample includes significant numbers of indigenous Māori, providing estimates of weight and mortality risk in an indigenous population. We follow men from war's end until death, with data on more than 12,000 men from each war. Overweight and obesity were important risk factors for mortality, and associated with shorter life expectancy. However, the reduction in life expectancy associated with being overweight declined from 5 to 3 years between the two cohorts, consistent with the hypothesis that being overweight became less risky during the twentieth century.
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Affiliation(s)
- Kris Inwood
- Departments of Economics and History, University of Guelph, Mackinnon Building, 50 Stone Road East, Guelph, ON N1G 2W1, Canada
| | - Les Oxley
- Department of Economics, University of Waikato, Private Bag 3105, Hamilton, New Zealand
| | - Evan Roberts
- History of Medicine Program and Minnesota Population Center, University of Minnesota, 50 Willey Hall, 225 19th Ave S, Minneapolis, MN 55455, United States
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2
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Corbet S, Hou Y, Hu Y, Oxley L. Did COVID-19 tourism sector supports alleviate investor fear? Ann Tour Res 2022; 95:103434. [PMID: 35702448 PMCID: PMC9181271 DOI: 10.1016/j.annals.2022.103434] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 10/13/2021] [Revised: 04/14/2022] [Accepted: 05/26/2022] [Indexed: 05/12/2023]
Abstract
The COVID-19 pandemic presented a dynamic black-swan event to which governments implemented support programmes to reduce sectoral probability of default. This research analyses investor response to such assistance, designed to mitigate the effects of the pandemic upon international aviation and tourism. Investor confidence in such support schemes is estimated through short-term abnormal returns. Results indicate significant differential behaviour, with fiscal policy found to be a dominant and largely effective mechanism generating median abnormal returns of 2.17 %. Specific assistance programmes relating to COVID-19 loan facilities, and the provision of pandemic relief packages significantly alleviated short-term investor concerns with median abnormal returns estimated between 2.87 % and 3.89 % respectively. Our empirical results offer investors and policymakers an additional layer of information.
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Affiliation(s)
- Shaen Corbet
- DCU Business School, Dublin City University, Dublin 9, Ireland
- School of Accounting, Finance and Economics, University of Waikato, Hamilton 3240, New Zealand
| | - Yang Hou
- School of Accounting, Finance and Economics, University of Waikato, Hamilton 3240, New Zealand
| | - Yang Hu
- School of Accounting, Finance and Economics, University of Waikato, Hamilton 3240, New Zealand
| | - Les Oxley
- School of Accounting, Finance and Economics, University of Waikato, Hamilton 3240, New Zealand
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3
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Corbet S, Hou YG, Hu Y, Larkin C, Lucey B, Oxley L. Cryptocurrency liquidity and volatility interrelationships during the COVID-19 pandemic. Financ Res Lett 2022; 45:102137. [PMID: 35221811 PMCID: PMC8856899 DOI: 10.1016/j.frl.2021.102137] [Citation(s) in RCA: 14] [Impact Index Per Article: 7.0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 01/11/2021] [Revised: 04/19/2021] [Accepted: 05/10/2021] [Indexed: 05/07/2023]
Abstract
We examine the interactions between cryptocurrency price volatility and liquidity during the outbreak of the COVID-19 pandemic. Evidence suggests that these developing digital products have played a new role as a potential safe-haven during periods of substantial financial market panic. Results suggest that cryptocurrency market liquidity increased significantly after the WHO identification of a worldwide pandemic. Significant and substantial interactions between cryptocurrency price and liquidity effects are identified. These results add further support to the argument that substantial flows of investment entered cryptocurrency markets in search of an investment safe-haven during this exceptional black-swan event.
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Affiliation(s)
- Shaen Corbet
- DCU Business School, Dublin City University, Dublin 9, Ireland
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Greg Hou
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Hu
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Charles Larkin
- Institute for Policy Research, University of Bath, UK
- Trinity Business School, Trinity College Dublin, Dublin 2, Ireland
- Kreiger School of Arts & Sciences, Johns Hopkins University, Baltimore, MD, USA
| | - Brian Lucey
- Trinity Business School, Trinity College Dublin, Dublin 2, Ireland
- University of Sydney Business School, University of Sydney, Sydney, New South Wales, Australia
- Institute of Business Research, University of Economics, Ho Chi Minh City, Vietnam
| | - Les Oxley
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
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Corbet S, Hou YG, Hu Y, Oxley L. The influence of the COVID-19 pandemic on the hedging functionality of Chinese financial markets. Res Int Bus Finance 2022; 59:101510. [PMID: 34539027 PMCID: PMC8437690 DOI: 10.1016/j.ribaf.2021.101510] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.5] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 12/29/2020] [Revised: 07/22/2021] [Accepted: 08/08/2021] [Indexed: 05/23/2023]
Abstract
In this paper, we investigate both constant and time-varying hedge ratios in terms of the effectiveness of CSI300 index futures during the COVID-19 crisis. Using naïve, OLS and EC/ROLS strategies to estimate constant hedge ratios, results indicate that the CSI300 spot index presents decreased effectiveness using the naïve hedging strategy; however, increased effectiveness of OLS and EC hedge ratios are identified. Differential behaviour is identified when considering five newly introduced COVID-19 concept-based stock indices. Time-varying hedge ratios indicate the weakened effectiveness, ranging between 20% and 40% variance reduction. Evidence suggests that the capability of the CSI300 index futures to hedge against the risks of the COVID-19 is impaired, regardless of whether constant or time-varying hedge ratios are used. Such results provide important implications to both local and foreign investors in the Chinese stock market.
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Affiliation(s)
- Shaen Corbet
- DCU Business School, Dublin City University, Dublin 9, Ireland
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Greg Hou
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Hu
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Les Oxley
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
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5
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Abstract
In the midst of the 2020 global COVID-19 pandemic and subsequent financial market collapse, corporate entities have to navigate a number of truly unforeseen contagion risks. However, one such group included those who shared their corporate identity with aspects of the rapidly evolving coronavirus. Our results indicate the existence of sharp, dynamic and new correlations between companies related to the term 'corona', outside of pre-existing interrelationships. We provide a number of observations as to why this situation occurred.
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Affiliation(s)
- Shaen Corbet
- DCU Business School, Dublin City University, Dublin 9, Ireland
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Hou
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Hu
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Brian Lucey
- Trinity Business School, Trinity College Dublin, Dublin 2, Ireland
- Institute of Business Research, University of Economics Ho Chi Minh City, Ho Chi Minh City, Vietnam
- University of Sydney Business School, Sydney, New South Wale
| | - Les Oxley
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
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Corbet S, Hou Y, Hu Y, Lucey B, Oxley L. Aye Corona! The contagion effects of being named Corona during the COVID-19 pandemic. Financ Res Lett 2021; 38:101591. [PMID: 32837362 PMCID: PMC7237930 DOI: 10.1016/j.frl.2020.101591] [Citation(s) in RCA: 57] [Impact Index Per Article: 19.0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 04/17/2020] [Revised: 05/05/2020] [Accepted: 05/14/2020] [Indexed: 05/03/2023]
Abstract
In the midst of the 2020 global COVID-19 pandemic and subsequent financial market collapse, corporate entities have to navigate a number of truly unforeseen contagion risks. However, one such group included those who shared their corporate identity with aspects of the rapidly evolving coronavirus. Our results indicate the existence of sharp, dynamic and new correlations between companies related to the term 'corona', outside of pre-existing interrelationships. We provide a number of observations as to why this situation occurred.
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Affiliation(s)
- Shaen Corbet
- DCU Business School, Dublin City University, Dublin 9, Ireland
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Hou
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Hu
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Brian Lucey
- Trinity Business School, Trinity College Dublin, Dublin 2, Ireland
- Institute of Business Research, University of Economics Ho Chi Minh City, Ho Chi Minh City, Vietnam
- University of Sydney Business School, Sydney, New South Wale
| | - Les Oxley
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
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Hu Y, Hou YG, Oxley L. What role do futures markets play in Bitcoin pricing? Causality, cointegration and price discovery from a time-varying perspective? Int Rev Financ Anal 2020; 72:101569. [PMID: 38620702 PMCID: PMC7481826 DOI: 10.1016/j.irfa.2020.101569] [Citation(s) in RCA: 2] [Impact Index Per Article: 0.5] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 11/24/2019] [Revised: 07/05/2020] [Accepted: 07/20/2020] [Indexed: 06/15/2023]
Abstract
Recent papers that have explored spot and futures markets for Bitcoin have concluded that price discovery takes place either in the spot, or the futures market. Here, we consider the robustness of previous price discovery conclusions by investigating causal relationships, cointegration and price discovery between spot and futures markets for Bitcoin, using appropriate daily data and time-varying mechanisms. We apply the time-varying Granger causality test of Shi, Phillips, and Hurn [2018]; time-varying cointegration tests of Park and Hahn [1999], and time-varying information share methodologies, concluding that futures prices Granger cause spot prices and that futures prices dominate the price discovery process.
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Affiliation(s)
- Yang Hu
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Greg Hou
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Les Oxley
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
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8
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Corbet S, Hou Y, Hu Y, Oxley L. The influence of the COVID-19 pandemic on asset-price discovery: Testing the case of Chinese informational asymmetry. Int Rev Financ Anal 2020; 72:101560. [PMID: 38620666 PMCID: PMC7486623 DOI: 10.1016/j.irfa.2020.101560] [Citation(s) in RCA: 6] [Impact Index Per Article: 1.5] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 06/09/2020] [Revised: 07/02/2020] [Accepted: 07/21/2020] [Indexed: 05/12/2023]
Abstract
The circumstances surrounding the outbreak of the COVID-19 pandemic have generated substantial international political strain as governments attempt to mitigate the widespread associated social and economic repercussions. One theory has focused on the potential for Chinese informational asymmetry. Using Chinese financial market data, we attempt to establish the scale and direction of information flows during multiple distinct phases of the development of the pandemic. Two specific results are identified. Firstly, the majority of domestically-traded Chinese stocks present evidence of significant information flows at a far earlier stage than internationally-traded comparatives, suggesting that domestic investors recognised the dangers associated with COVID-19 far in advance of the rest of the world. One potential explanation surrounds the view that the severity of domestically-reported Chinese news was not appropriately recognised by international investors. Secondly, while evidence of safe-haven and flight-to-safety behaviour is evident throughout traditional energy and precious metal markets, cryptocurrencies became informationally-synchronised with Chinese equity markets, indicating their use as an investor safe-haven. This is a particularly concerning outcome for international policy-maker and regulatory authorities due to the fragility of these developing markets.
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Affiliation(s)
- Shaen Corbet
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
- DCU Business School, Dublin City University, Dublin 9, Ireland
| | - Yang Hou
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Hu
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Les Oxley
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
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Corbet S, Hou YG, Hu Y, Larkin C, Oxley L. Any port in a storm: Cryptocurrency safe-havens during the COVID-19 pandemic. Econ Lett 2020; 194:109377. [PMID: 32834235 PMCID: PMC7340084 DOI: 10.1016/j.econlet.2020.109377] [Citation(s) in RCA: 21] [Impact Index Per Article: 5.3] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 05/25/2020] [Revised: 06/25/2020] [Accepted: 06/30/2020] [Indexed: 05/22/2023]
Abstract
Controlling for the polarity and subjectivity of social media data based on the development of the COVID-19 outbreak, we analyse the relationships between the largest cryptocurrencies and such time-varying realisation as to the scale of the economic shock centralised within the rapidly-escalating pandemic. We find evidence of significant growth in both returns and volumes traded, indicating that large cryptocurrencies acted as a store of value during this period of exceptional financial market stress. Further, cryptocurrency returns are found to be significantly influenced by negative sentiment relating to COVID-19. While not only providing diversification benefits for investors, results suggest that these digital assets acted as a safe-haven similar to that of precious metals during historiccrises.
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Affiliation(s)
- Shaen Corbet
- DCU Business School, Dublin City University, Dublin 9, Ireland
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Greg Hou
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Yang Hu
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
| | - Charles Larkin
- Institute for Policy Research, University of Bath, UK
- Trinity Business School, Trinity College Dublin, Dublin 2, Ireland
- Kreiger School of Arts & Sciences, Johns Hopkins University, Baltimore, MD, USA
| | - Les Oxley
- School of Accounting, Finance and Economics, University of Waikato, New Zealand
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Smith R, Wardzynski C, Oxley L, Duff S. MON-PO394: Development of a Protocol for Insertion of Nasogastric Tubes in an Outpatient Setting for Patients Undergoing Chemo ± Radiotherapy Treatment for Head and Neck Cancer in a Tertiary Care Centre: A Dietetic Led Clinic and Protocol. Clin Nutr 2019. [DOI: 10.1016/s0261-5614(19)32227-7] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [What about the content of this article? (0)] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/16/2022]
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11
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Abstract
The British colonization of New Zealand after 1840 was marked by an unusual concern compared to other settler colonies for incorporating the indigenous population Māori population into the new society. But despite a continuing political rhetoric of protection and sovereignty Māori have historically had lower living standards and, since the 1920s, higher rates of incarceration than European-descended New Zealanders (Pākehā). In this paper we examine differences between Māori and Pākehā over 130 years using prison records. Aggregate data from the Ministry of Justice show long-term change and differences in incarceration rates. Using a dataset of all extant registers of men entering New Zealand prisons we show change over time in convictions and in height. The adult statures of Māori and Pākehā were similar for men born before 1900 but marked differences emerged among cohorts born during the twentieth century. By World War II the gap in adult stature widened to around 3 cm, before narrowing for men born after World War II. Periods of divergence in stature are paralleled by divergence in fertility and indicators of family size, suggesting the possibility that increasing fertility stressed the economic situation of Māori families. The prison evidence suggests that inequalities in 'net nutrition' between Māori and Pākehā are long-standing but not unchanging, indeed they increased for cohorts born into the early 20th century. A subset of the data describing adolescents confirms that among those born after 1945 the ethnic differential was already visible by the age of 16 years.
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Affiliation(s)
- Kris Inwood
- Departments of Economics and History, University of Guelph
| | - Les Oxley
- Department of Economics, University of Waikato
| | - Evan Roberts
- Department of History and Minnesota Population Center, University of Minnesota
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Ma H, Oxley L, Rae A, Fan C, Huang J, Rozelle S. The evolution of productivity performance on China’s dairy farms in the new millennium. J Dairy Sci 2012; 95:7074-85. [DOI: 10.3168/jds.2012-5529] [Citation(s) in RCA: 13] [Impact Index Per Article: 1.1] [Reference Citation Analysis] [What about the content of this article? (0)] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 03/12/2012] [Accepted: 07/23/2012] [Indexed: 11/19/2022]
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14
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Abstract
Many are interested in Chinas energy situation, however, numerous energy related issues in China still remain unanswered. For example, what are the potential forces driving energy demand and supply? Previous reviews focused only on fossil fuel based energy and ignored other important elements including renewable and clean energy sources. The work presented here is intended to fill this gap by bringing the research on fossil-based and renewable energy economic studies together and identifying the potential drivers behind both energy demand and supply to provide a complete picture of Chinas energy situation in the new millennium. This will be of interest to anyone concerned with the development of Chinas economy in general, and in particular with its energy economy.
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Abstract
This paper investigates energy market integration in China by employing univariate, and panel-based unit root tests and Granger causality tests applied to a new energy price data set. We identify price series that converge either to absolute or relative price parity. In addition we estimate the rates (speed) at which relative prices converge to their long-run values, and the direction of causality. The results show that gasoline and diesel markets are very well integrated as a whole; and that once some geographically isolated regions are excluded, we can regard the coal market as integrated; however, the electricity market is not well integrated. The estimated intercept terms are all very small and close to zero, such that most of the relative price series can be regarded as convergent to absolute price parity. The convergence rates vary little and are relatively short when compared internationally. A rich set of causal relationships are established many showing bi-directional causality between regional centres.
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Colman RW, Oxley L, Giannusa P. Statistical comparison of the automated activated partial thromboplastin time and the clotting time in the regulation of heparin therapy. Am J Clin Pathol 1970; 53:904-7. [PMID: 5504609 DOI: 10.1093/ajcp/53.6.904] [Citation(s) in RCA: 8] [Impact Index Per Article: 0.1] [Reference Citation Analysis] [What about the content of this article? (0)] [MESH Headings] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 01/15/2023] Open
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