Miracle-dz/UniFAR-FTUs huggingface dataset:
The Cyclical Decline of the Profit Rate as the Cause of Crises in the United States (1947-2011)

This work employs the methodology developed by Thomas Weisskopf in the late 1970s to analyze the role of cyclical declines in the profit rate as the cause of crises in the United States during the postwar period, and contrasts the results with Weisskopf’s and other subsequent works he inspired. The generalized idea in the literature that cyclical crises are normally caused by a decline in the profit rate is confronted; the cyclical decline in the profit rate is a plausible cause of six out of ten postwar U.S. cyclical crises, but it is doubtful that this can be postulated as the case in the remaining four. Of these six crises, most of them can be related to the offensive rising strength of the labor variant of crisis. Finally, it is argued that analysis of the profit rate short-term dynamics is insufficient to provide a specific characterization of the neoliberal crises in opposition to the crises of the Keynesian period in the U.S. economy.
Tax Collection in Developing Countries – New Evidence on Semi-Autonomous Revenue Agencies (SARAs)

Abstract Over the last two decades, semi-autonomous revenue agencies (SARAs) have become a key element of public administration reform. They are supposed to improve revenue mobilisation and stabilise state–taxpayer relations. But do SARAs really outperform conventional tax administrations? This article argues that they do. Presenting the results of a panel analysis of local tax collection in Peru between 1998 and 2011, it shows that municipalities with SARAs collect more revenue than those with conventional tax administrations. The results also indicate that local revenue is more stable in municipalities with SARAs, which is good for budget policy and planning.
A novel human Fab antibody for Trop2 inhibits breast cancer growth in vitro and in vivo

Human trophoblastic cell surface antigen 2 (Trop2) has been suggested as an oncogene, which is associated with the different types of tumors. In this study, a human Fab antibody against Trop2 extracellular domain was isolated from phage library by phage display technology, and characterized by ELISA, FACS, fluorescence staining and Western blotting analysis. MTT, apoptosis assay and wound healing assay were employed to evaluate the inhibitory effects of Trop2 Fab on breast cancer cell growth in vitro, while tumor‐xenograft model was employed to evaluate the inhibitory effects on breast cancer growth in vivo. The results showed that Trop2 Fab inhibited the proliferation, induced the apoptosis and suspended the migration of MDA‐MB‐231 cells in a dose dependent manner. The expression caspase‐3 was activated, and the expression of Bcl‐2 was reduced while that of Bax was elevated in MDA‐MB‐231 cells by treating with Trop2 Fab. In addition, Trop2 Fab inhibited the growth of breast cancer xenografts and the expression of Bcl‐2 was reduced while that of Bax was elevated in xenografts. Trop2 Fab, which was isolated successfully in this research, is a promising therapeutic agent for the treatment of Trop2 expressing breast cancer.
The Cyclical Behavior of Interest Rates

This paper investigates the behavior of the term structure of interest rates over the business cycle. In contrast to the simple change in aggregate economic activity used in previous research, we use a more appropiate measure of the business cycle: the deviation of aggregate economic activity from its potentially stochastic trend. Stochastically detrending Gross Domestic Product (GDP) by Watson's [1986] UC-ARMA methodology significantly improves the term spread's informativeness regarding future economic activity. We also investigage the implications of the UC-ARIMA representation of aggregate consumption dynamics for a linear consumption based model of the term structure. The presence of an unobserved by independent cyclical component in aggregate consumption also allows for the more efficient estimation of consumption asset pricing models.
Supplier‐buyer contracting: Asymmetric cost information and cutoff level policy for buyer participation

We consider the problem of designing a contract to maximize the supplier's profit in a one‐supplier–one‐buyer relationship for a short‐life‐cycle product. Demand for the finished product is stochastic and price‐sensitive, and only its probability distribution is known when the supply contract is written. When the supplier has complete information on the marginal cost of the buyer, we show that several simple contracts can induce the buyer to choose order quantity that attains the single firm profit maximizing solution, resulting in the maximum possible profit for the supplier. When the marginal cost of the buyer is private information, we show that it is no longer possible to achieve the single firm solution. In this case, the optimal order quantity is always smaller while the optimal sale price of the finished product is higher than the single firm solution. The supplier's profit is lowered while that of the buyer is improved. Moreover, a buyer who has a lower marginal cost will extract more profit from the supplier. Under the optimal contract, the supplier employs a cutoff level policy on the buyer's marginal cost to determine whether the buyer should be induced to sign the contract. We characterize the optimal cutoff level and show how it depends on the parameters of the problem. © 2001 John Wiley & Sons, Inc. Naval Research Logistics 48: 41–64, 2001
Hunters and gatherers in the modern world: conflict, resistance, and self-determination.

Despite the denial of sovereignty, the world's more than 350 million indigenous peoples continue to assert aboriginal title to significant portions of the world's remaining bio-diversity. As a result, conflicts between tribal peoples and nation states are on the increase. Today, many of the societies that gave the field of anthropology its empirical foundations and unique global vision of a diverse and evolving humanity are being destroyed as a result of national economic, political, and military policies. The main focus of this volume is on the internal dynamics and political strategies of hunting and gathering societies in areas of self-determination and self-representation. More specifically, it examines areas such as warfare and conflict resolution, resistance, identity and the state, demography and ecology, gender and representation, and world view and religion. It raises a large number of major issues of common concerns and therefore makes important reading for all those interested in human rights issues, ethnic conflict, grassroots development and community organization, and environmental topics. Megan Biesele is President, School of Expressive Culture, Texas A&M University, College Station, Texas. She helped found the Kalahari Peoples Fund in 1973 and currently serves as its Coordinator. Robert H. Hitchcock is an Associate Professor of Anthropology and Chair of the Anthropology Department, as well as the coordinator of African Studies, at the University of Nebraska-Lincoln. He is involved in research and development project monitoring, evacuation, and implementation, primarily in southern and eastern Africa and North America. Peter P. Schweitzer is Associate Professor of Anthropology at the University of Alaska Fairbanks and Lecturer at the Institute of Ethnology, Cultural, and Social Anthropology, University of Vienna.
A Novel Mutation Identified in the DFNA5 Gene in a Dutch Family: A Clinical and Genetic Evaluation

A novel DFNA5 mutation was found in a Dutch family, of which 37 members were examined. A nucleotide substitution was identified in the splice acceptor site of intron 7, leading to skipping of exon 8 in part of the transcripts. The mutation was found in 18 individuals. Sensorineural hearing impairment was non-syndromic and symmetric. In early life, presumably congenitally, hearing impairment amounted to 30 dB in the high frequencies. Progression was most pronounced at 1 kHz (1.8 dB/year). Speech recognition was relatively good with a phoneme score of about 50% at the age of 70. Onset age was 37 years, and recognition deteriorated by 1.3% per year. The recognition score deteriorated by 1.0% per decibel threshold increase from a mean pure-tone average (PTA at 1, 2 and 4 kHz) of 63 dB onwards. Vestibular function was generally normal. The second mutation identified in the DFNA5 gene results in hearing impairment, similar to that in the original DFNA5 family in terms of pure-tone thresholds, but with more favourable speech recognition.
Nominal Revaluation of Cross-Border Assets, Terms-of-Trade Changes, International Portfolio Diversification, and International Risk Sharing

Using a simple theoretical model, I suggest that the nominal revaluation of cross-border assets (the international wealth redistribution through the changes in nominal variables) may work as an international risk-sharing mechanism at the aggregate level. Then, I empirically examine three risk-sharing channels: the nominal revaluation of cross-border assets, the terms-of-trade channel suggested by , and cross-border security ownership (international portfolio diversification). Empirical results suggest that the nominal revaluation hedges country-specific consumption risks at the aggregate level but that the other two channels do not. The results have interesting implications on international risk-sharing and exchange rate regime comparison.
Inter‐island divergence within Drosophila mauritiana, a species of the D. simulans complex: Past history and/or speciation in progress?

Speciation with gene flow may be more common than generally thought, which makes detailed understanding of the extent and pattern of genetic divergence between geographically isolated populations useful. Species of the Drosophila simulans complex provide a good model for speciation and evolutionary studies, and hence understanding their population genetic structure will increase our understanding of the context in which speciation has occurred. Here, we describe genetic diversity and genetic differentiation of two distant populations of D. mauritiana (Mauritius and Rodrigues Islands) at mitochondrial and nuclear loci. We surveyed the two populations for their mitochondrial haplotypes, eight nuclear genes and 18 microsatellite loci. A new mitochondrial type is fixed in the Rodrigues population of D. mauritiana. The two populations are highly differentiated, their divergence appears relatively ancient (100 000 years) compared to the origin of the species, around 0.25 MYA, and they exhibit very limited gene flow. However, they have similar levels of divergence from their sibling, D. simulans. Both nuclear genes and microsatellites revealed contrasting demographic histories between the two populations, expansion for the Mauritius population and stable population size for the Rodrigues Island population. The discovery of pronounced geographic structure within D. mauritiana combined to genetic structuring and low gene flow between the two island populations illuminates the evolutionary history of the species and clearly merits further attention in the broad context of speciation.
Financial Valuation and Risk Management Working Paper No . 454 CHICAGO : A Fast and Accurate Method for Portfolio Risk Calculation

The estimation of multivariate GARCH models remains a challenging task, even in modern computer environments. This manuscript shows how Independent Component Analysis can be used to estimate the Generalized Orthogonal GARCH model in a fraction of the time otherwise required. The proposed method is a two-step procedure, separating the estimation of the correlation structure from that of the univariate dynamics, thus facilitating the incorporation of non-Gaussian innovations distributions in a straightforward manner. The generalized hyperbolic distribution provides an excellent parametric description of financial returns data and is used for the univariate fits, but its convolutions, necessary for portfolio risk calculations, are intractable. This restriction is overcome by a saddlepoint approximation to the required distribution function, which is computationally cheap and extremely accurate — most notably in the tail, which is crucial for risk calculations. A simulation study and an application to stock returns demonstrate the validity of the procedure.
Dentro lo specchio: economia e politica della domanda di cultura

Economic research on the demand for cultural products focuses upon thecomposition of the audience, emphasizing its homogeneity and the determinants of consumer choice, highlighting the influence of income, price and time. The paper argues that such analyses are limited in scope, since recent transformations in the economy and in consumer expectations should lead to examine the growing complexity and diversification of cultural consumption. The cognitive process of cultural consumer is therefore analysed, and its economic implications are used in order to identify a path of effective strategies on the part of cultural producers, and to suggest a design of policies aimed at the satisfaction of consumer expectations and needs. Such a market is characterised by a high degree of monopoly, while competition is occurring for accessing public funds. Policies should incentive entrepreneurial responsibility toward consumers, in order to expand the market for culture.
Bank Market Structure and Monetary Control

FINANCIAL INNOVATIONS AND REGULATORY ACTIONS together have acted to produce sweeping changes in the U.S. financial environment. Much of the recent literature in the area of money and banking has been concerned with the implications of these developments for monetary policy. However, one major aspect of this issue which has been relatively ignored is the relationship between the competitive structure of banking markets and the capability of the Federal Reserve to exercise control over its intermediate or ultimate policy goals. Given that deregulation of banking and various forms of financial innovations (e.g., technological innovations in the provision of financial services, the proliferation of various "near-money" financial assets, and the growth of nonbank financial intermediaries) have altered the competitive environment in banking, it seems clear that this relationship should be investigated. Two previous efforts to examine the monetary policy implications of different bank market structures are Aftalion and White (1977) and VanHoose (1983). In each of those papers, the short-run, real-sector effects of potential policy instruments under the structural extremes of perfect competition and monopoly are derived and contrasted. However, the analysis in each case is based upon models in which perfect certainty is assumed and no interactions are allowed between the real and
Financial deepening, economic growth and development: evidence from selected sub-Saharan African countries

Lack of or stagnant growth of output of any country is often caused by "shallow - finance". A shallow financial depth (FD) means that the range of financial assets for that country is narrow. It is a scenario that goes far in explaining why most SSA countries have low or negative per capita growth rates. This study identifies the range of financial assets that can adequately approximate financial deepening, which simply means an increase in the supply of financial assets in the economy. FD is represented by two variables, the degree of financial intermediation/development (M2/Y) and the growth rate in per capita real money balances (GPRMB). Because of lack of data on other measures of financial assets in most SSA countries, broad money (M2) was used as numerator for both variables. Estimations depending on the two measures of FD and other explanatory variables of interest were done with an ordinary least squares (OLS) multiple regression procedure. Three modelled equations, with justifications for each, were estimated and analysed. A cross-country regression was used for 34 SSA countries. To even out year-to-year fluctuations as well as reflect underlying structural changes, the variables were calculated on a decade average basis. Two policy implications derive from the study: that SSA countries should strive hard to make real money balances grow, and that these countries should also come up with policies to improve financial development/intermediation. Given such factors as price stabilization, elimination of fiscal deficit and removal of various restrictions on financial institutions, real money balances could be made to grow. Financial intermediation/ development could positively affect output growth if, among other suggested ways, the volume of investment is raised.
Privatising education, privatising education policy, privatising educational research: network governance and the ‘competition state’

This paper explores some particular aspects of the privatisation of public sector education, mapping and analysing the participation of education businesses in a whole range of public sector education services both in the UK and overseas. It addresses some of the types of privatisation(s) which are taking place ‘of’, ‘in’ and ‘through’ education and education policy, ‘in’ and ‘through’ the work of education businesses. This entails a traversal of some of the multi‐level and multi‐layered fields of policy: institutional, national and international. Such an approach is important in demonstrating the increasing diversity and reach of some of the education businesses and their different kinds of involvements with different institutions and sectors of education. It also makes it possible to set local rhetorics, such as ‘partnership’, within the context of corporate logics of expansion, diversification, integration and profit.
Personality differences in hindsight bias

Ten personality correlates of hindsight bias were tested in a study with 75 participants answering almanac-type knowledge questions. Participants showed hindsight bias when hindsight estimates were compared to foresight estimates (memory condition), when hindsight estimates were compared to foresight estimates of other participants (BS = between-subjects hypothetical condition), and when hindsight estimates were compared to foresight estimates in response to equally difficult control items (WS = within-subject hypothetical condition). The magnitude of hindsight bias in both hypothetical conditions was positively associated with the participant's field dependence and his or her tendency for favourable self-presentation (as measured by social desirability and impression management). Between-subjects hypothetical hindsight was associated with the participant's conscientiousness and need for predictability and control (as measured by a rigidity scale). In a multiple regression analysis, 39% of the variance in BS hypothetical hindsight, 24% of the variance in WS hypothetical hindsight, but no significant proportion of the variance in memory hindsight could be accounted for by personality measures. It is concluded that individual differences in hindsight bias exist and must be taken into account in a complete model of the effect.
‘PEOPLE OR PRAIRIE CHICKENS’ REVISITED: STATED PREFERENCES WITH EXPLICIT NON‐MARKET TRADE‐OFFS

Urban sprawl has led to increasing prevalence of endangered species on military training facilities throughout the United States. Provisions of the Endangered Species Act imply encroachment interrupts military training activities and may affect military readiness. Endangered species protection and military training are competing non‐market goods. This paper reports the estimates of public valuation of military training activities incorporating explicit trade‐offs associated with endangered species protection. Our results suggest the public is willing to pay to alleviate conflicts between endangered species and the military. The public values for continued survival of endangered species approximately equal those for military readiness.
On the Efficiency of Least Squares Regression with Security Abnormal Returns as the Dependent Variable

Abstract Monte Carlo procedures are used to compare the finite sample performance of several estimators that may be used in cross-sectional regressions with security abnormal returns as the dependent variable. Alternative models of event-induced increases in stock return variance are examined for the “event-clustering” scenario. Event clustering implies crosssectional correlation and heteroskedasticity in market model prediction errors, violating one of the fundamental ordinary least squares (OLS) assumptions (i.i.d. disturbances). Nonetheless, provided that the conditions for asymptotic validity derived by Greenwald (1983) are met, the OLS estimator is well specified in finite samples. Further, for sufficiently large cross sections there is no advantage to several other more complex estimators.
The Pay Challenge

Pay matters. Using economic theory and empirical data from Singapore, the authors examine the important role of salary in attracting and retaining social workers. Economic theories show the relationship between pay and turnover, and the need for government intervention. Then, by comparing empirical data against the economic theories, the effectiveness of the measures taken by the Singapore government to increase the number of social workers is analyzed. Finally, issues hindering competitive social work pay and recommendations for managing the issues are highlighted.
Inflation Dynamics and Labor Market Dynamics Revisited

Firms adjust labor both at the intensive and at the extensive margin (see, e.g., Hansen and Sargent 1988). Moreover, employment adjustment is not frictionless (see, e.g., Mortensen and Pissarides 1994). What does this imply for inflation dynamics? To address this question we develop a New Keynesian model featuring two margins of labor adjustment as well as a simultaneous price-setting and employment decision at the firm level. We find that the presence of an empirically plausible labor adjustment decision at the firm level rationalizes strategic complementarities in price-setting which help explain inflation dynamics.
Performance of Spanish firms going public: windows of opportunity and the informative effect

The aim of this paper is to analyse the performance of firms that went public on Madrid Stock Exchange in the period 1985–1997. Results show that no relation exists between the ownership structure of a firm and the decline in returns subsequent to its going public, although a signaling effect does exist with respect to the quality of the firm that is associated with the percentage of equity retained at the moment of going public. On the other hand, the decline in returns appears to be determined by the firms exploiting the existence of windows of opportunity and by the adjustment made by firms in their profit figures.
Unified Theory of Acceptance and Use of Technology: U.S. Vs. China

Abstract This paper seeks to enrich our understanding of research on technology adoption by examining a potential boundary condition, related to culture, of the fairly recently developed model of technology adoption and use-i.e., unified theory of acceptance and use of technology (UTAUT). Based on the cultural differences between the U.S. and China, we outline the similarities and dissimilarities between the hypotheses specified in the original UTAUT, which was validated in the U.S., and how the relationships will play in the context of employees in China. We conducted an empirical study in a single organization that operated both in the U.S. and China and collected longitudinal data from a total of over 300 employees in one business unit in each of the two countries. Our study confirmed our hypotheses that social influence will be more uniformly important across all employees, without contingencies related to gender, age and volunatariness that were found to be the case in the U.S. As we theorized, other UTAUT hypotheses held both in the U.S. and China. This work contributes by examining culture as a boundary condition and identifies the bounds of generalizability of UTAUT.