Miracle-dz/UniFAR-FTUs huggingface dataset:
Equilibrium Exchange Rate Hedging

In a one-period model where each investor consumes a single good, and where borrowing and lending are private and real, there is a universal constant that tells how much each investor hedges his foreign investments. The constant depends only on average risk tolerance across investors. The same constant applies to every real foreign investment held by every investor. Foreign investors are those with different consumption goods, not necessarily those who live in different countries. In equilibrium, the price of the world market portfolio will adjust so that the constant will be related to an average of world market risk premia, an average of world market volatilities, and an average of exchange rate volatilities, where we take the averages over all investors. The constant will not be related to exchange rate means or covariances. In the limiting case when exchange risk approaches zero, the constant will be equal to one minus the ratio of the variance of the world market return to its mean. Jensen's inequality, or "Siegel's paradox," makes investors want significant amounts of exchange rate risk in their portfolios. It also makes investors prefer a world with more exchange rate risk to a similar world with less exchange rate risk.
Transparency and Negotiated Prices: The Value of Information in Hospital-Supplier Bargaining

Using data on hospitals’ purchases across a large number of important product categories, we find that access to information on purchasing by peer hospitals leads to reductions in the prices hospitals negotiate for supplies. These effects are concentrated among hospitals previously paying relatively high prices for brands purchased in large volumes. Evidence from coronary stents suggests that transparency allows hospitals to resolve asymmetric information problems, but savings are limited in part by the stickiness of contracts in business-to-business settings. Savings are largest for physician preference items, where high-price, high-quantity hospital-brand combinations average 3.9% savings, versus 1.6% for commodities.
International marketing strategy and export performance in Spanish SMEs: a contingency approach

This paper investigates whether the degree of standardisation/ adaptation of the overall international marketing strategy influences the export performance in SMEs, taking into account the moderating effect of internal and external variables. Drawing on a contingency approach of international marketing strategy standardisation/adaptation, a conceptual model is proposed and tested with a sample of Spanish exporting SMEs using structural equation modelling (SEM). Based on the findings, a more standardised international marketing strategy benefits larger SMEs and those firms which perceive the environmental differences between the home-host markets as important barriers for the export activity; whereas a more adapted international marketing strategy appears to be preferable for smaller SMEs as well as for companies which belong to low-technology industries or do not see the environmental differences as high export barriers.
Is the Government's intertemporal budget constraint fulfilled in Sweden? An application of the Kalman filter

This paper deals with the issue of whether the Government complies with its budget constraint for the case of Sweden during the period 1963–2000 using quarterly data. It is found that government spending and government revenue are nonstationary (integrated) but cointegrated. A random coefficient model against a fixed coefficient model is also tested for. The results show that the random coefficient model, which is nonlinear, is preferred to the linear fixed parameter model. This model, which takes into account the Lucas critique, is estimated by the Kalman filter and it provides further empirical evidence that the government follows its intertemporal budget restriction.
Geometric Backtracking for Combined Task and Path Planning in Robotic Systems

Planners for real, possibly complex, robotic systems should not only reason about abstract actions, but also about aspects related to physical execution such as kinematics and geometry. We present an approach in which state-based forward-chaining task planning is tightly coupled with sampling-based motion planning and other forms of geometric reasoning. We focus on the problem of geometric backtracking which arises when a planner needs to reconsider geometric choices, like grasps and poses, that were made for previous actions, in order to satisfy geometric preconditions of the current action. Geometric backtracking is a necessary condition for completeness, but it may lead to a dramatic computational explosion due to the systematic exploration of the space of geometric states. In order to deal with that, we introduce heuristics based on the collisions between the robot and movable objects detected during geometric backtracking and on kinematic relations between actions. We also present a complementary approach based on propagating explicit constraints which are automatically generated from the symbolic actions to be evaluated and from the kinematic model of the robot. We empirically evaluate these different approaches. We demonstrate our planner on a real advanced robot, the DLR Justin robot, and on a simulated autonomous forklift. Figure 1: The robot Justin at DLR, about to manipulate two cups.
Protein A-Specific Monoclonal Antibodies and Prevention of Staphylococcus aureus Disease in Mice

ABSTRACT Staphylococcus aureus is a leading cause of human soft tissue infections and bacterial sepsis. The emergence of antibiotic-resistant strains (methicillin-resistant S. aureus [MRSA]) has prompted research into staphylococcal vaccines and preventive measures. The envelope of S. aureus is decorated with staphylococcal protein A (SpA), which captures the Fcγ portion of immunoglobulins to prevent opsonophagocytosis and associates with the Fab portion of VH3-type B cell receptors to trigger B cell superantigen activity. Nontoxigenic protein A (SpAKKAA), when used as an immunogen in mice, stimulates humoral immune responses that neutralize the Fcγ and the VH3+ Fab binding activities of SpA and provide protection from staphylococcal abscess formation in mice. Here, we isolated monoclonal antibodies (MAbs) against SpAKKAA that, by binding to the triple-helical bundle fold of its immunoglobulin binding domains (IgBDs), neutralize the Fcγ and Fab binding activities of SpA. SpAKKAA MAbs promoted opsonophagocytic killing of MRSA in mouse and human blood, provided protection from abscess formation, and stimulated pathogen-specific immune responses in a mouse model of staphylococcal disease. Thus, SpAKKAA MAbs may be useful for the prevention and therapy of staphylococcal disease in humans.
Globalization, Real Output and Multiple Structural Breaks

Abstract This paper adopts an advanced panel cointegration method which incorporates multiple structural breaks to examine the long-run relationship between real output (RGDP) and the Konjunkturforschungsstelle (KOF) index of globalization (overall and its three main sub-indices), employing annual data of G7 countries from 1970 to 2006. Our empirical findings provide strong evidence that overall globalization and its social dimension are cointegrated with RGDP, and most of the structural break points are discovered during the period of the oil crisis (the mid-1970s) and the process of European Union integration. In addition, in evaluating whether or not the structural breaks affect the RGDP through globalization, we discover that both the overall globalization index and the social globalization index have a directly positive impact on RGDP but indirectly exhibit negative impacts on real output via the channel of social globalization.
Graphical Network Models for International Financial Flows

The late-2000s financial crisis stressed the need to understand the world financial system as a network of countries, where cross-border financial linkages play a fundamental role in the spread of systemic risks. Financial network models, which take into account the complex interrelationships between countries, seem to be an appropriate tool in this context. To improve the statistical performance of financial network models, we propose to generate them by means of multivariate graphical models. We then introduce Bayesian graphical models, which can take model uncertainty into account, and dynamic Bayesian graphical models, which provide a convenient framework to model temporal cross-border data, decomposing the model into autoregressive and contemporaneous networks. The article shows how the application of the proposed models to the Bank of International Settlements locational banking statistics allows the identification of four distinct groups of countries, that can be considered central in systemic risk contagion.
A study of Spanish firms' security issue decision under asymmetric information and agency costs

The ability of asymmetric informational models and agency models is analysed to explain the firm's security issue choice and the market reaction to equity and bond issues. The results support mainly agency models as an explanation for the firm's decisions to issue debt or equity, while the market reaction to equity issues is both explained by models of asymmetry of information and agency models. The study also highlights the importance of considering different contexts when analysing capital structure decisions.
Alcohol and Aggression: A Test of an Indirect Measure of Aggression

28 male undergraduates were randomly divided into an Alcohol group (0.8 ml/kg) or a Control group. After drinking they were exposed to a violent movie and then they wrote TAT-stories and completed semantic differential scales. Only the indirect semantic scales differentiated the groups: intoxicated subjects accepted violence more and with less negative feeling.
Rethinking Locational Outcomes for Housing Choice Vouchers: A Case Study in Duval County, Florida

This study examines locational patterns of housing choice vouchers in Duval County, Florida, using the Housing Suitability Model (HSM), a newly developed geographic information system–based model that evaluates residential land parcels and neighborhoods in terms of their suitability for affordable housing. The HSM was used to characterize voucher locations and other residential parcels across the county in terms of opportunity and accessibility. The analysis explores the tradeoffs between opportunity and accessibility inherent in many neighborhoods throughout the county. It finds that voucher holders' locations lag substantially behind other residential locations in terms of opportunity measures but are more comparable in terms of accessibility. Further analysis finds differences in opportunity and accessibility among subgroups of voucher holders by various demographic characteristics. The study recommends the incorporation of opportunity and accessibility for voucher holders into local housing planning, including the implementation of proposed rules for Affirmatively Furthering Fair Housing.
Research Note: How Management Students Select Prospective Employers

Suggests that past research has revealed a number of determinants of selection decisions for college students. Given the trend towards “generalist” degrees, aims to examine how graduating seniors in a general business field (management) would rate certain job factors. Reports business management seniors′ ratings of 23 factors potentially present in workplaces. Discusses the most and least important factors and presents implications for organizational recruiting practices.
The changing role of the auditors

Purpose – To highlight the pressures that the auditors would face in the era of globalisation and the challenges they should be willing to accept in order to maintain trust and integrity.Design/methodology/approach – A wide range of articles and journals published in international journals as well as local journals has been reviewed. The areas covered include audit fraud, true and fair view interpretation, auditor independence and role of internal auditors. Further, ideas have also been obtained from critical write‐ups in the business magazines on the fall of multinationals.Findings – A wide range of interpretation has been given by various groups of people on their understanding of the phrase “true and fair”. This has created great confusion as to the interpretation of the audit reports. This has been proven by the fall of many multinationals and the audit pioneers, Andersens. This is one of the causes of audit fraud and it is also seen that as the auditors face an enormous challenge as they enter the tw.
The Economics of Health and Safety at Work: An Interdiciplinary Review of the Theory and Policy

This paper engages in an interdisciplinary survey of the current state of knowledge related to the theory, determinants and consequences of occupational safety and health (OSH). It first describes the fundamental theoretical construct of compensating wage differentials, which is used by economists to understand the optimal provision of OSH in a perfectly competitive labour market. The plethora of incentives faced by workers and firms in job and insurance markets that determine the ultimate level of OSH are discussed in detail. The extensive empirical evidence from the hedonic wage and stated choice approaches used to assess the value of OSH is reviewed. The causes of inefficiency and inequity in the market for OSH, such as externalities, moral hazard in compensation insurance, systematic biases in individual risk perception/well‐being and labour market segregation are subsequently examined. The implications of government intervention and regulation for tackling the aforementioned inefficiencies in OSH are then considered. Finally, the survey identifies areas of future research interests and suggests indicators and priorities for policy initiatives that can improve the health and safety of workers in modern job markets.
Economic Integration, Party Polarisation and Electoral Turnout

Recent research provides evidence that economic integration has a negative effect on electoral turnout. Taking up these recent findings, this article explores the causal chain in more detail. Specifically, it argues that one way by which economic integration affects the calculus of voting is through the positioning of political parties. The expectation is that the polarisation between parties on an economic left–right scale is lower the more integrated an economy is. Consequently, electoral turnout should be lower with less polarisation in the party system. The article employs aggregate-level data from legislative elections in 24 developed democracies. Using data from the Comparative Manifestos Project, evidence is found not only that economic integration has a negative effect on party polarisation as measured on an economic left–right dimension, but also that this in turn exerts a negative effect on electoral turnout.
External Beam Radiotherapy ± Chemotherapy in the Treatment of Anal Canal Cancer: A Single-Institute Long-Term Experience on 100 Patients

One-hundred patients treated with curative radiotherapy (RT) ± chemotherapy (CT) for an anal canal carcinoma (T1–4N0–3M0) were retrospectively analyzed. Five- and 10-year local control (LC) rates were 73% and 67%, respectively. Acute and late G3–G4 toxicity rates were 32% and 12%, respectively. Two patients underwent a colostomy for a G4 anal toxicity. This study confirms the outcomes of RT ± CT in the treatment of anal canal cancer. Concomitant CT and LC statistically influenced Overall Survival and Colostomy-Free Survival. CT also statistically reduced the risk of nodal relapse. High rates of acute skin toxicity impose tailored volumes and techniques of irradiation.
Verification and application of the extended spectral deconvolution algorithm (SDA+) methodology to estimate aerosol fine and coarse mode extinction coefficients in the marine boundary layer

Abstract. The spectral deconvolution algorithm (SDA) and SDA+ (extended SDA) methodologies can be employed to separate the fine and coarse mode extinction coefficients from measured total aerosol extinction coefficients, but their common use is currently limited to AERONET (AErosol RObotic NETwork) aerosol optical depth (AOD). Here we provide the verification of the SDA+ methodology on a non-AERONET aerosol product, by applying it to fine and coarse mode nephelometer and particle soot absorption photometer (PSAP) data sets collected in the marine boundary layer. Using data sets collected on research vessels by NOAA-PMEL(National Oceanic and Atmospheric Administration – Pacific Marine Environmental Laboratory), we demonstrate that with accurate input, SDA+ is able to predict the fine and coarse mode scattering and extinction coefficient partition in global data sets representing a range of aerosol regimes. However, in low-extinction regimes commonly found in the clean marine boundary layer, SDA+ output accuracy is sensitive to instrumental calibration errors. This work was extended to the calculation of coarse and fine mode scattering coefficients with similar success. This effort not only verifies the application of the SDA+ method to in situ data, but by inference verifies the method as a whole for a host of applications, including AERONET. Study results open the door to much more extensive use of nephelometers and PSAPs, with the ability to calculate fine and coarse mode scattering and extinction coefficients in field campaigns that do not have the resources to explicitly measure these values.
Interaction between perceived maternal care, anxiety symptoms, and the neurobehavioral response to palatable foods in adolescents

Abstract Studies in rodents have shown that early life trauma leads to anxiety, increased stress responses to threatening situations, and modifies food intake in a new environment. However, these associations are still to be tested in humans. This study aimed to verify complex interactions among anxiety diagnosis, maternal care, and baseline cortisol on food intake in a new environment in humans. A community sample of 32 adolescents and young adults was evaluated for: psychiatric diagnosis using standardized interviews, maternal care using the Parental Bonding Inventory (PBI), caloric consumption in a new environment (meal choice at a snack bar), and salivary cortisol. They also performed a brain fMRI task including the visualization of palatable foods vs. neutral items. The study found a three-way interaction between anxiety diagnosis, maternal care, and baseline cortisol levels on the total calories consumed (snacks) in a new environment. This interaction means that for those with high maternal care, there were no significant associations between cortisol levels and food intake in a new environment. However, for those with low maternal care and who have an anxiety disorder (affected), cortisol was associated with higher food intake; whereas for those with low maternal care and who did not have an anxiety disorder (resilient), cortisol was negatively associated with lower food intake. In addition, higher anxiety symptoms were associated with decreased activation in the superior and middle frontal gyrus when visualizing palatable vs. neutral items in those reporting high maternal care. These results in humans mimic experimental research findings and demonstrate that a combination of anxiety diagnosis and maternal care moderate the relationship between the HPA axis functioning, anxiety, and feeding behavior in adolescents and young adults.
ASTHENOZOOSPERMIA: ANALYSIS OF A LARGE POPULATION

Spermatozoa travel a long distance to meet and fertilize the oocyte, so sperm motility is a requisite for normal fertilization. Asthenozoospermia, or low sperm motility, is a common cause of human male infertility. This is a retrospective study (1992-1999) to document the prevalence of this pathology in infertile men and to clarify the probable factors associated to its etiology. The prevalence was 18.71% for asthenozoospermia and 63.13% for asthenozoospermia associated with oligo- and/or teratozoo-spermia; thus, 81.84% of the studied samples had altered motility. Leukocytospermia, the ratio of germ cells/sperm, anti-sperm antibodies, consistency, biochemical markers of accessory sex glands, and sperm response after swim-up were studied in normospermic (N), asthenozoospermic (A), and combined asthenozoospermic (C) samples. No significant difference was found in the frequency of leukocytospermia among groups. The rate of germ cells/(spermatozoa + germ cells) between C and N ( p <.01), and C and A ( p <.01) was statistically different, while no difference was found on comparing N and A. MAR-test over 40% was found in 6% of the A samples and 7.6% of the C, while no positive values were observed in the N group. The percentage of hyperviscous samples was higher in the low sperm motility samples than in the normal group. Data on concentration of the biochemical markers seem to be decreased in asthenozoospermia. Pure and combined asthenozoo-spermia showed different behavior in sperm recovery after swim-up. Two different asthenozoospermias could be defined: the pure one where sperm environment is involved (immunological factor, hyperviscosity, and secretory gland function) and the combined, where the testis is comprised.
The N-terminal tails of the H2A-H2B histones affect dimer structure and stability.

The histone proteins of the core nucleosome are highly basic and form heterodimers in a "handshake motif. " The N-terminal tails of the histones extend beyond the canonical histone fold of the hand-shake motif and are the sites of posttranslational modifications, including lysine acetylations and serine phosphorylations, which influence chromatin structure and activity as well as alter the charge state of the tails. However, it is not well understood if these modifications are signals for recruitment of other cellular factors or if the removal of net positive charge from the N-terminal tail plays a role in the overall structure of chromatin. To elucidate the effects of the N-terminal tails on the structure and stability of histones, the highly charged N-terminal tails were truncated from the H2A and H2B histones. Three mutant dimers were studied: DeltaN-H2A/WT H2B; WT H2A/DeltaN-H2B, and DeltaN-H2A/DeltaN-H2B. The CD spectra, stabilities to urea-denaturation, and the salt-dependent stabilization of the three truncated dimers were compared with those of the wild-type dimer. The data support four conclusions regarding the effects of the N-terminal tails of H2A and H2B: (1) Removal of the N-terminal tails of H2A and H2B enhance the helical structure of the mutant heterodimers. (2) Relative to the full-length WT heterodimer, the DeltaN-H2A/WT H2B dimer is destabilized, while the WT H2A/DeltaN-H2B and DeltaN-H2A/DeltaN-H2B dimers are slightly stabilized. (3) The truncated dimers exhibit decreased m values, relative to the WT dimer, supporting the hypothesis that the N-terminal tails in the isolated dimer adopt a collapsed structure. (4) Electrostatic repulsion in the N-terminal tails decreases the stability of the H2A-H2B dimer.
Opting or Not Opting to Share Income Tax Information with the Census: Does It Affect Research Findings?

Le présent article porte sur l’effet de la décision de donner aux répondants au Recensement de 2006 l’option de permettre à Statistique Canada d’avoir accès à leurs dossiers fiscaux plutôt que de répondre directement aux questions touchant leurs revenus. Nous avons constaté que si l’on donne aux répondants l’option de partager (ou non) leurs dossiers fiscaux, cela ajoute de la confusion lorsqu’il s’agit de mesurer les inégalités des revenus des familles, en particulier des familles à faible revenu. Toutefois, la décision du consentement ne semble pas avoir d’effet matériel sur l’estimation des équations salariales standard.