Stock return predictability and the role of monetary policy

Article Abstract:

This article examines whether shifts in the stance of monetary policy can account for the observed predictability in excess stock returns. Using long-horizon regressions and short-horizon vector autoregressions, the article concludes that monetary policy variables are significant predictors of future returns, although they cannot fully account for observed stock return predictability. I undertake variance decompositions to investigate how monetary policy affects the individual components of excess returns (risk-free discount rates, risk premia, or cash flows). (Reprinted by permission of the publisher.)

Analysis, Influence, Monetary policy, Return on investment, Stock price forecasting, Rate of return

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Cradle of legislation

Article Abstract:

The Human Fertilisation and Embryology Authority (HFEA) would not allow the cloning of people under the current statutory regulations but recognises that these may need amendment in the light of the latest scientific advances. The HFEA is opposed to the intentional production of genetically identical individuals but acknowledges that a statutory ban on every possible form of cloning might inhibit research that could benefit mankind. The authority favours an agreed international policy on cloning since it is aware that even the strictest UK controls might not prevent cloning.

Laws, regulations and rules, Beliefs, opinions and attitudes, Cloning, United Kingdom. Human Fertilization and Embryology Authority

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Is the FBI forensics laboratory too secretive?

Article Abstract:

Disagreement exists on whether the Federal Bureau of Investigation's forensics laboratory is too secretive. Critics cite the FBI lab as having a bunker mentality, refusing external proficiency testing which is the norm for crime laboratories. However, supporters note that the FBI lab has founded many standards for crime labs, and its lack of accreditation is due to administrative reasons like building security rather than quality.

Management, United States. Federal Bureau of Investigation, Crime laboratories

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