Recent Observations of Plasma and Alfvenic Wave Energy Injection at the Base of the Fast Solar Wind

We take stock of recent observations that identify the episodic plasma heating and injection of Alfvenic energy at the base of fast solar wind (in coronal holes). The plasma heating is associated with the occurrence of chromospheric spicules that leave the lower solar atmosphere at speeds of order 100km/s, the hotter coronal counterpart of the spicule emits radiation characteristic of root heating that rapidly reaches temperatures of the order of 1MK. Furthermore, the same spicules and their coronal counterparts ("Propagating Coronal Disturbances"; PCD) exhibit large amplitude, high speed, Alfvenic (transverse) motion of sufficient energy content to accelerate the material to high speeds. We propose that these (disjointed) heating and accelerating components form a one-two punch to supply, and then accelerate, the fast solar wind. We consider some compositional constraints on this concept, extend the premise to the slow solar wind, and identify future avenues of exploration.Comment: 12 pages, 9 figures - accepted to appear in Space Science Review

The Inconvenient Truth About Coronal Dimmings

We investigate the occurrence of a CME-driven coronal dimming using unique high resolution spectral images of the corona from the Hinode spacecraft. Over the course of the dimming event we observe the dynamic increase of non-thermal line broadening in the 195.12Angstrom emission line of Fe XII as the corona opens. As the corona begins to close, refill and brighten, we see a reduction of the non-thermal broadening towards the pre-eruption level. We propose that the dynamic evolution of non-thermal broadening is the result of the growth of Alfven wave amplitudes in the magnetically open rarefied dimming region, compared to the dense closed corona prior to the CME. We suggest, based on this proposition, that, as open magnetic regions, coronal dimmings must act just as coronal holes and be sources of the fast solar wind, but only temporarily. Further, we propose that such a rapid transition in the thermodynamics of the corona to a solar wind state may have an impulsive effect on the CME that initiates the observed dimming. This last point, if correct, poses a significant physical challenge to the sophistication of CME modeling and capturing the essence of the source region thermodynamics necessary to correctly ascertain CME propagation speeds, etc.Comment: 4 pages, 3 figures, submitted to ApJ - rerouted to ApJ

NONCONSTANT PRICE EXPECTATIONS AND ACREAGE RESPONSE: THE CASE OF COTTON PRODUCTION IN GEORGIA

An adaptive regression model is used to examine the relative importance of cash and government support prices in determining cotton production over time. The results show that the cash price is more important as a source of price information for cotton producers than the government program price. The cash price was shown to have a greater influence on acreage response in every year, including periods thought to be dominated by government commodity programs.Adaptive regression, Cotton acreage response, Price expectations, Crop Production/Industries,

The Spectroscopic Signature of Quasi-periodic Upflows in Active Region Timeseries

Quasi-periodic propagating disturbances are frequently observed in coronal intensity image sequences. These disturbances have historically been interpreted as being the signature of slow-mode magnetoacoustic waves propagating into the corona. The detailed analysis of Hinode EUV Imaging Spectrometer (EIS) timeseries observations of an active region (known to contain propagating disturbances) shows strongly correlated, quasi-periodic, oscillations in intensity, Doppler shift, and line width. No frequency doubling is visible in the latter. The enhancements in the moments of the line profile are generally accompanied by a faint, quasi-periodically occurring, excess emission at ~100 km/s in the blue wing of coronal emission lines. The correspondence of quasi-periodic excess wing emission and the moments of the line profile indicates that repetitive high-velocity upflows are responsible for the oscillatory behavior observed. Furthermore, we show that the same quasi-periodic upflows can be directly identified in a simultaneous image sequence obtained by the Hinode X-Ray Telescope (XRT). These results are consistent with the recent assertion of De Pontieu & McIntosh (2010) that the wave interpretation of the data is not unique. Indeed, given that several instances are seen to propagate along the direction of the EIS slit that clearly show in-phase, quasi-periodic variations of intensity, velocity, width (without frequency doubling), and blue wing enhanced emission this dataset would appear to provide a compelling example that upflows are more likely to be the main cause of the quasi-periodicities observed here, as such correspondences are hard to reconcile in the wave paradigm.Comment: 5 figures, accepted by ApJ Letter

REIT Pricing Efficiency; Should Investors Still Be Concerned?

This study examines the impact of the REIT boom on the market microstructure of REIT common stocks. We analyze NYSE-traded REITs during the pre-boom period (1992) and the post-boom period (1994), and find significant reductions in bid/ask spreads over the period. We also find that the bid/ask spread differential between REITs and non-REITs has been roughly halved between 1991 and 1994. These reductions provide a direct benefit to REIT investors in terms of reduction in transaction costs and improved liquidity, and suggest that the level of uncertainty on the part of the REIT specialist has been reduced.

An Examination of Informed Traders and the Market Microstructure of Real Estate Investment Trusts

A significant body of research exists documenting that REITs perform differently from other types of equity securities, although the reasons for these differences are unclear. This study examines the intraday trading behavior of Real Estate Investment Trusts (REITs). Specifically, intraday REIT returns, volume, trading activity, and bid/ask spread are examined in an attempt to better understand the patterns of intraday information flow for a sample of REITs trading on the NYSE. After controlling for differences in market capitalization, share price, and institutional holdings, this paper analyzes differences between REITs and non-REITs, and between REITs that are widely held by institutions and those that are not. The results suggest that, as a group, REITs exhibit lower average volumes and number of trades than do similar non-REITs. In addition, the findings suggest that mortgage REITs trade at spreads that are wider. Surprisingly, the analysis of institutional ownership suggests that equity REITs that are widely held by institutions exhibit the largest divergence from non-REITs in terms of both intraday trading activity and volume, but at the same time trade closer to non-REITs in terms of bid/ask spread. Overall, the results of this study confirm that REITs are treated differently by investors than similar non-REITs, and the institutional ownership findings suggest that trading activity is less important as a determinant of REIT performance than is the level of institutional ownership.

Deciphering Solar Magnetic Activity: On Grand Minima in Solar Activity

The Sun provides the energy necessary to sustain our existence. While the Sun provides for us, it is also capable of taking away. The weather and climatic scales of solar evolution and the Sun-Earth connection are not well understood. There has been tremendous progress in the century since the discovery of solar magnetism - magnetism that ultimately drives the electromagnetic, particulate and eruptive forcing of our planetary system. There is contemporary evidence of a decrease in solar magnetism, perhaps even indicators of a significant downward trend, over recent decades. Are we entering a minimum in solar activity that is deeper and longer than a typical solar minimum, a "grand minimum"? How could we tell if we are? What is a grand minimum and how does the Sun recover? These are very pertinent questions for modern civilization. In this paper we present a hypothetical demonstration of entry and exit from grand minimum conditions based on a recent analysis of solar features over the past 20 years and their possible connection to the origins of the 11(-ish) year solar activity cycle.Comment: 9 pages - submitted to Frontiers in Solar and Stellar Physic