title: Real interest rates, inflation and open economy: A regime-switching perspective on Australia and New Zealand

authors: Holmes, Mark J.

subjects: stationary

abstract: We investigate the time-series properties of Australian and New Zealand real interest rates within a Markov-switching framework. This enables us to identify characteristics in real interest rate behavior hitherto unacknowledged. We find that rates switch between alternative stationary regimes characterized by differing means, speeds of mean-reversion and volatility. For New Zealand, high rates of inflation increase the probability of remaining in a regime characterized by a faster speed of adjustment. Further application of this methodology considers the real interest rate differential between Australia and New Zealand and points to differing regimes based on volatility rather than persistence.

text: Real interest rates, inflation and open economy: A regime-switching perspective on Australia and New Zealand We investigate the time-series properties of Australian and New Zealand real interest rates within a Markov-switching framework. This enables us to identify characteristics in real interest rate behavior hitherto unacknowledged. We find that rates switch between alternative stationary regimes characterized by differing means, speeds of mean-reversion and volatility. For New Zealand, high rates of inflation increase the probability of remaining in a regime characterized by a faster speed of adjustment. Further application of this methodology considers the real interest rate differential between Australia and New Zealand and points to differing regimes based on volatility rather than persistence.

year: 2009

title: Bacterial cellulose synthesis by gluconacetobacter xylinus: Enhancement via fed-batch fermentation strategies in Glycerol media

authors: Adnan, Azila Binti

abstract: Bacterial cellulose (BC) is an abundant polysaccharide, which is secreted by several genera of bacteria. It has remarkable characteristics, which include high purity, high tensile strength, high biocompatibility and non-toxic. The main feature that differentiates BC and plant cellulose (PC) is the absence of contaminants such as lignin, hemicellulose and pectin. However, the main drawbacks in producing BC are low yield and expensive carbon source. Due to that, this study was carried out to enhance BC volumetric productivity in fed-batch operation mode using glycerol as a carbon source. BC was produced in fill-and-draw and pulse-feed fed-batch cultures of Gluconacetobacter xylinus DSM 46604 in a 3-L bench-top bioreactor. The fed-batch fermentation trials were conducted in agitated and aerobic conditions at 30 ºC. For fill-and-draw fed-batch culture, a total of 24.2 g/L of BC accumulated in the bioreactor after 9 days, which corresponded to a yield and productivity of 0.2 g/g and 2.69 g/L/day, respectively. Pulse-feed fed-batch fermentation resulted in a yield and volumetric productivity of 0.38 g/g and 2.71 g/L/day, respectively. The pulse-feed fed-batch culture proved to be a better fermentation system for utilizing glycerol, which is a low-cost and abundant carbon source.

text: Bacterial cellulose synthesis by gluconacetobacter xylinus: Enhancement via fed-batch fermentation strategies in Glycerol media Bacterial cellulose (BC) is an abundant polysaccharide, which is secreted by several genera of bacteria. It has remarkable characteristics, which include high purity, high tensile strength, high biocompatibility and non-toxic. The main feature that differentiates BC and plant cellulose (PC) is the absence of contaminants such as lignin, hemicellulose and pectin. However, the main drawbacks in producing BC are low yield and expensive carbon source. Due to that, this study was carried out to enhance BC volumetric productivity in fed-batch operation mode using glycerol as a carbon source. BC was produced in fill-and-draw and pulse-feed fed-batch cultures of Gluconacetobacter xylinus DSM 46604 in a 3-L bench-top bioreactor. The fed-batch fermentation trials were conducted in agitated and aerobic conditions at 30 ºC. For fill-and-draw fed-batch culture, a total of 24.2 g/L of BC accumulated in the bioreactor after 9 days, which corresponded to a yield and productivity of 0.2 g/g and 2.69 g/L/day, respectively. Pulse-feed fed-batch fermentation resulted in a yield and volumetric productivity of 0.38 g/g and 2.71 g/L/day, respectively. The pulse-feed fed-batch culture proved to be a better fermentation system for utilizing glycerol, which is a low-cost and abundant carbon source.

year: 2021

title: The southern initiative: How indigenous values inspire social innovation and impact

authors: Niu, Xiaoliang

abstract: Indigenous values are increasingly recognised in helping organisations contribute to wellbeing within and beyond the workplace. Adopting the theoretical lens of Māori economies of wellbeing, this case study examines how The Southern Initiative (TSI), a unit within Auckland Council, incorporates Māori values to co-create place-based solutions and foster whānau (family) wellbeing. Through kōrero (conversations) with three people, a wānanga (collaborative discussion) with TSI members, and analysis of organisational literature, we identified how TSI's organising approach synthesises social innovation and bureaucracy. We found that indigeneity-embedded intrapreneurship, distributed leadership, and whānau-centred design support TSI's innovations. Mana (prestige) emerged as a primary organising principle, sustaining TSI's approach to achieving systemic change. By bridging Indigenous paradigms and conventional managerial practice, this case study demonstrates how Māori values can transform public sector management, elevate social justice, and encourage community resilience. These findings highlight culturally grounded frameworks for delivering social impact and shaping equitable outcomes.

text: The southern initiative: How indigenous values inspire social innovation and impact Indigenous values are increasingly recognised in helping organisations contribute to wellbeing within and beyond the workplace. Adopting the theoretical lens of Māori economies of wellbeing, this case study examines how The Southern Initiative (TSI), a unit within Auckland Council, incorporates Māori values to co-create place-based solutions and foster whānau (family) wellbeing. Through kōrero (conversations) with three people, a wānanga (collaborative discussion) with TSI members, and analysis of organisational literature, we identified how TSI's organising approach synthesises social innovation and bureaucracy. We found that indigeneity-embedded intrapreneurship, distributed leadership, and whānau-centred design support TSI's innovations. Mana (prestige) emerged as a primary organising principle, sustaining TSI's approach to achieving systemic change. By bridging Indigenous paradigms and conventional managerial practice, this case study demonstrates how Māori values can transform public sector management, elevate social justice, and encourage community resilience. These findings highlight culturally grounded frameworks for delivering social impact and shaping equitable outcomes.

year: 2025