Residential property auction prices

Large movements in house prices over the past three years have re-emphasised the challenge of analysing their movements. This article presents data on properties sold at auction that may offer insights into short-term dynamics in the housing market.

The financial position of British households: evidence from the 2010 NMG Consulting survey

The UK economy has begun to recover over the past year but households’ financial positions remain under strain. Elevated unemployment, weak earnings growth and restricted credit availability still pose a problem for some households. But the low level of Bank Rate has continued to bear down on mortgage interest payments for some borrowers. This article examines evidence from the latest survey of households carried out for the Bank by NMG Consulting in late September, which shows how these and other changes have affected households’ budgets and spending decisions. The burden of unsecured debt was higher than in the past and concerns about debt levels had increased, leading some to save more in order to reduce indebtedness. A special set of questions this year showed that households’ awareness of the fiscal consolidation measures was quite high. They were concerned about the impact on their finances, although the majority had yet to take any action in response.

Joint knowledge generation in European R&D networks: Results from a discrete choice modelling perspective

The objective of this study is to explore the determinants of joint knowledge generation within European networks of R&D collaboration. This study distinguishes between two types of joint knowledge generation: scientific and commercially relevant knowledge generation. Joint generation of scientific knowledge is measured by co-authored scientific publications, while joint commercially relevant knowledge is measured by co-owned patents and artefacts. Unit of analysis are dyads of organisations jointly participating in projects of the 5th EU Framework Programme (FP5). The data for carrying out this study is taken from a survey among FP5 participants and the EUPRO database. 23 EU member countries (Bulgaria, Cyprus, Malta and Rumania are excluded) plus Switzerland and Norway are included. Regression methods for discrete choice (logit and probit) are employed to meet the objective. The independent variables taken into consideration encompass the types of organisations involved in the dyad, geographical and cultural obstacles, relational factors and project characteristics. Results show that dyads involving universities have the highest probability not only to jointly generate scientific knowledge but also to jointly generate commercially relevant knowledge, whereas the involvement of an industry organisation results in a low probability for both types of knowledge generation. Perhaps, this can be attributed to the fact that joint knowledge generation entails disclosure of own knowledge, which is actually a task of universities but is problematic for industry organisations. Another important result is that crossing national border has a significant positive rather than negative effect on joint scientific knowledge generation, which is essentially a consequence of how the Framework Programmes had been set up. Similarly, crossing EU-15 external border has a positive effect on joint knowledge generation, indicating that the FPs work well in achieving their aim of supporting the catching up process of CEE countries. But, joint generation of commercially relevant knowledge is negatively influenced by language borders. This can be explained by the fact that the co-development of patentable knowledge or artefacts requires more intensive and complex interactions than to co-author a scientific publication where English is the lingua franca anyway. Results on relational factors and project characteristics satisfy expectations: Duration of collaboration and the existence of previous collaboration have a positive effect on joint knowledge generation, whereas the project size, measured by number of participants, affects joint knowledge generation negatively

Higher masseter muscle mass in grazing than in browsing ruminants

Using cranioskeletal measurements, several studies have generated evidence that grazing ruminants have a more pronounced mastication apparatus, in terms of muscle insertion areas and protuberances, than browsing ruminants, with the resulting hypothesis that grazers should have larger, heavier chewing muscles than browsers. However, the only investigation of this so far [Axmacher and Hofmann (J Zool 215:463-473, 1988)] did not find differences between ruminant feeding types in the masseter muscle mass of 22 species. Here, we expand the dataset to 48 ruminant species. Regardless of phylogenetic control in the statistical treatment, there was a significant positive correlation of body mass and masseter mass, and also a significant association between percent grass in the natural diet and masseter mass. The results support the concept that ruminant species that ingest more grass have relatively larger masseter muscles, possibly indicating an increased requirement to overcome the resistance of grass forage. The comparative chewing resistance of different forage classes may represent a rewarding field of ecophysiological researc