Miracle-dz/UniFAR-FTUs huggingface dataset:
On Interest Rates and Other Determinants of Financial Savings: An Empirical Investigation in Tanzania

This paper investigates determinants of financial saving in Tanzania during the period 1967-2010. Both OLS method and dynamic error correction (coitegration) model (ECM) approaches were employed to test the hypothesis that the interest rate elasticity of financial savings was positive during the study period. The regression results rejected the hypothesis that the interest rate of financial savings was negative and statistically insignificant for the period 1967-1986, a period that was characterized by staunch Government regulation and control of the financial sector. Also unexpectedly, the results rejected the hypothesis that the interest rate elasticity of financial savings was positive during the period 1987-2010, a period that was characterized by market determined interest rates. The results also showed a decrease in absolute size of the real interest rare elasticity of financial savings over the two sub-sample period. Several robustness tests confirmed the estimated sign and sensitivity of financial savings to real interest rates for both sub-sample periods. The results, however, are inconsistent with the traditional theory and therefore demands for further empirical investigation.
Private Maintenance for Moscow's Municipal Housing Stock: Does It Work?

[© Journal of Housing Economics] Since the housing stock in Russia is still predominantly State-owned, reform of the State rental sector is fundamental to the transformation of the housing sector in general. Officials in the city of Moscow recognized this and signed an agreement with the U.S. Agency for International Development for a demonstration project for the private maintenance of municipal units as part of a larger reform program. This paper presents the results of the evaluation of the effectiveness of this program.
Why Wages Don't Fall during a Recession

A deep question in economics is why wages and salaries don't fall during recessions. this is not true of other prices, which adjust relatively quickly to reflect changes in demand and supply. Although economists have posited many theories to account for wage rigidity, none is satisfactory. eschewing "top-down" theorizing, the author explored the puzzle by interviewing - during the recession of the early 1990s - over 300 business executives and labour leaders as well as professional recruiters and advisors to the unemployed. By taking this approach, gaining the confidence of his interlocutors and asking them detailed questions in a nonstructured way, he was able to uncover empirically the circumstances that give rise to wage rigidity. He found that the executives were averse to cutting wages of either current employees or new hires, even during the economic downturn when demand for their products fell sharply. They believed that cutting wages would hurt morale, which they felt was critical in gaining the cooperation of their employees, and in convincing them to internalize the managers' objectives for the company. Bewley's findings contradict most theories of wage rigidity and provide fascinating insights into the problems businesses face that prevent labour markets from clearing.
Exit Surveys as a Tool for Local Officials Who Are Considering Bond Issues for Infrastructure Improvements

This study presents a framework for using exit surveys as a way to identify and explain citizen support for property tax increases for local infrastructure improvements. When local policy makers are interested in surveying their citizens about potential policy options, great care must be taken in choosing the population to be surveyed. Because voter turnout tends to be much lower in local elections, traditional phone and mail techniques may overestimate the willingness of citizens to vote. The alternative presented here is an exit survey of those persons who have participated in a specific local election. Findings from this case study show that negative attitudes about government and perceived tax liabilities appear to be more consistently related to attitudes toward raising taxes than are demographic variables. On the other hand, demographic variables may be mitigating factors not only with regard to perceived tax burdens but also in regard to defining one’s use or intended use of projects.
Charles A. Dice Center for Research in Financial Economics Psychological Barriers, Expectational Errors, and Underreaction to News

This paper provides evidence that the 52-week high serves as a psychological barrier, inducing expectational errors and underreaction to news. Two clear predictions emerge and are confirmed in the data. First, nearness to a 52-week high induces expectational errors; evidence from earnings surprises and analyst price targets indicate that investor and analyst expectations are biased in a downward direction for stocks near a 52-week high and biased in an upward direction for stocks trading far from a 52-week high. Second, nearness to a 52-week high induces underreaction to news. Among positive earnings surprise stocks, post-announcement drift exists only for those stocks near a 52-week high. The evidence suggests that in contrast to currently offered preference-based explanations, a belief-based explanation may better explain the previously documented 52-week high anomalies. ∗I thank Jack Bao, Sergey Chernenko, Kewei Hou, Kenneth Singleton, and seminar participants at Ohio University, Pomona College, The Ohio State University, and University of Illinois at Chicago for helpful comments and discussion. †Fisher College of Business, The Ohio State University. Email: birru.2@fisher.osu. edu
Soil Erosion Control and Sediment Load Reduction in the Loess Plateau: Policy Perspectives

The sediment load of the Loess Plateau has shown a sharp decreasing trend in the past decades. This paper gives a comprehensive review of the driving factors of the sediment decrease with respect to human activities, including soil and water conservation, dam construction, and vegetation restoration. Also presented is an overview of the main achievements of soil and water conservation and the main soil erosion control programmes implemented in the Loess Plateau. The paper concludes with suggestions for further policy modifications that could move management towards ecological sustainability and will be greatly beneficial to the regional water resources management and restoration of an eco-environmental system in the Loess Plateau.
A Portable Image Overlay Projection Device for Computer-Aided Open Liver Surgery

Image overlay projection is a form of augmented reality that allows surgeons to view underlying anatomical structures directly on the patient surface. It improves intuitiveness of computer-aided surgery by removing the need for sight diversion between the patient and a display screen and has been reported to assist in 3-D understanding of anatomical structures and the identification of target and critical structures. Challenges in the development of image overlay technologies for surgery remain in the projection setup. Calibration, patient registration, view direction, and projection obstruction remain unsolved limitations to image overlay techniques. In this paper, we propose a novel, portable, and handheld-navigated image overlay device based on miniature laser projection technology that allows images of 3-D patient-specific models to be projected directly onto the organ surface intraoperatively without the need for intrusive hardware around the surgical site. The device can be integrated into a navigation system, thereby exploiting existing patient registration and model generation solutions. The position of the device is tracked by the navigation system's position sensor and used to project geometrically correct images from any position within the workspace of the navigation system. The projector was calibrated using modified camera calibration techniques and images for projection are rendered using a virtual camera defined by the projectors extrinsic parameters. Verification of the device's projection accuracy concluded a mean projection error of 1.3 mm. Visibility testing of the projection performed on pig liver tissue found the device suitable for the display of anatomical structures on the organ surface. The feasibility of use within the surgical workflow was assessed during open liver surgery. We show that the device could be quickly and unobtrusively deployed within the sterile environment.
Vitamin D binding protein gene polymorphisms and baseline vitamin D levels as predictors of antiviral response in chronic hepatitis C

Vitamin D deficiency seems to predict the unsuccessful achievement of sustained viral response (SVR) after antiviral treatment in hepatitis C virus (HCV) difficult‐to‐treat genotypes. Vitamin D binding protein (GC) gene polymorphisms are known to influence vitamin D levels. This study was performed to assess whether the interaction between basal circulating vitamin D and the GC polymorphism plays a role in influencing the rate of antiviral responses in patients affected by chronic hepatitis C. In all, 206 HCV patients treated with a combination therapy of pegylated (PEG)‐interferon plus ribavirin were retrospectively evaluated. GC rs7041 G>T, GC rs4588 C>A, and IL‐28B rs12979860 C>T polymorphisms were genotyped. Frequencies of GC rs7041 G>T and rs4588 C>A polymorphisms were: G/G = 64 (31.1%), G/T = 100 (48.5%), T/T = 42 (20.4%) and C/C = 108 (52.4%), C/A = 84 (40.8%), A/A = 14 (6.8%). Patients were divided into those carrying ≥3 major alleles (wildtype [WT]+: G‐C/G‐C, G‐C/T‐C, G‐C/G‐A, N = 100) and the remaining (WT−: G‐C/T‐A, T‐A/T‐C, T‐A/T‐A, T‐C/T‐C, N = 106). Four groups were identified: vitamin D ≤20 ng/mL and WT−, vitamin D ≤20 and WT+, vitamin D >20 and WT−, vitamin D >20 and WT+. In difficult‐to‐treat HCV genotypes the proportion of patients achieving SVR significantly increased with a linear trend from the first to the last group: 6/25 (24.0%), 9/24 (37.5%), 12/29 (41.4%), 19/29 (65.5%) (P = 0.003). At multivariate analysis, having basal vitamin D >20 ng/mL plus the carriage of GC WT+ was found to be an independent predictor of SVR (odds ratio 4.52, P = 0.015). Conclusion: In difficult‐to‐treat HCV genotypes, simultaneous pretreatment normal serum vitamin D levels and the carriage of GC‐globulin WT isoform strongly predicts the achievement of SVR after PEG‐interferon plus ribavirin antiviral therapy. (HEPATOLOGY 2012;56:1641–1650)
NUDT15 R139C Variants Increase the Risk of Azathioprine-Induced Leukopenia in Chinese Autoimmune Patients

The aim of this study was to investigate the influence of NUDT15 R139C, thiopurine S-methyltransferase (TPMT), and 6-TGN on azathioprine (AZA) induced leukopenia in Chinese autoimmune patients. Among 87 enrolled patients, 23 (26.4%) had leukopenia. The NUDT15 R139C variant was associated with leukopenia (p = 1.86 × 10−7; OR: 7.59; 95% CI: 3.16–18.21). However, TPMT genotype was not shown to be correlated with the incidence of leukopenia (p = 0.95). There was no significant difference of 6-TGN concentration between patients with or without leukopenia (p = 0.15) and no association was found in patients with NUDT15 R139C variants alleles (p = 0.62). Finally, we found that the range of 6-TGN concentrations in autoimmune diseases was much lower than the established 6-TGN monitoring range for inflammatory bowel diseases. Therefore, the variant of NUDT15 R139C is strongly associated with AZA-induced leukopenia in Chinese patients with various autoimmune diseases such as systemic lupus erythematosus, Sjögren's syndrome, etc.
Unemployment and government size: Is there any credible causality?

This paper investigates the Abrams curve, that is the relationship between government size and unemployment, for 10 European countries over the period 1961–1999. This paper uses credible causality inferences that do not depend on the stationarity or cointegration properties of the data. The results support the idea that there is an Abrams curve but the relation between government size and the unemployment rate is not likely to be simple.
A Model of Pricing in the Sharing Economy: Pricing Dynamics with Awareness-Generating Adoptions

We develop a model of providers operating on a Sharing Economy platform where consumers first become aware of a product or service, and then consider adopting it. Past adoptions increase the likelihood that future consumers will discover the provider, but awareness also decays over time. We exhibit that pricing dynamics for products and services of short life span are consistent with penetration pricing. For products with longer life spans, the relationship between population awareness and price is nonmonotonic, and consistent with a tipping point in the adoption process. Providers price higher when they have either achieved high awareness or have been positioned in a market niche. Fees levied by the platform adhere to the double-marginalization effect. Our model positively explains empirical observations, including the significant price fluctuation and the emergence of niche and superstar providers.
Returns after Personal Tax on UK Equity and Gilts, 1919-98

This paper investigates whether personal tax could help explain the size of the historic equity premium in the UK measured before personal tax. If there has been a higher tax burden on equity, some of the premium could be viewed as compensation for tax. We estimate that personal tax reduces the arithmetic mean nominal return on equity from 13.3% to 11.1% pa during 1919-98, and the mean return on gilts from 7.1% to 5.6% pa. Thus, personal tax accounts for a slightly higher proportion of the before-tax return on gilts than on equity, implying that the equity premium is not a compensation for a higher tax burden on equity.
Drinks per Day in Women of Mexican Origin: Does Birth Place Matter?

AbstractHistorically, Mexican-born women who immigrate to the United States (U.S.) have lower levels of alcohol use and higher rates of abstinence compared with Mexican American women born in the U.S. and other racial groups in the U.S. As such, immigrant women’s alcohol use has received limited attention by the research community. Gaps in knowledge of their alcohol use patterns, changes in healthy drinking recommendation for women, and projections of population growth in both Mexican immigrant and Mexican American populations support the need for the study. Data from the Center for Disease Control’s National Health Interview Survey were used to explore alcohol use differences in women of Mexican origin born in and outside of the U.S. In addition, the relationship between years in the U.S. and drinks per day was explored in Mexican immigrant women. The results indicated that Mexican immigrant women who drink are drinking above recommended levels and the younger immigrant women are drinking more drinks per day than young Mexican American women. These changes point to the importance of developing culturally sensitive interventions for this expanding segment of the population.
Current evidence for transurethral en bloc resection of non-muscle-invasive bladder cancer

Abstract Introduction : Despite today's standard procedure for staging and treating non-muscle-invasive bladder cancer by transurethral resection via a wire loop (TURBT), several other publications have dealt with a different concept of en bloc resection of bladder tumors using different energy sources. Material and methods : MEDLINE and the Cochrane central register were searched for the following terms: en bloc, mucosectomy, laser, resection, ablation, Neodym, Holmium, Thulium, transitional cell carcinoma. Results : Fourteen research articles dealing with en bloc resection of non-muscle-invasive bladder cancer could be identified (modified resection loops: six, laser: six, waterjet hydrodissection: two). Conclusion : En bloc resection of bladder tumors >1 cm can be performed safely with very low complication rates independent of the power source. By using laser, complication rates might even be decreased, based on their good hemostatic effect and by avoiding the obturator nerve reflex. A further advantage seems to be accurate pathologic staging of en bloc tumors. Randomized controlled trials are still needed to support the assumed advantages of en bloc resection over the standard TURBT with regard to primary targets: First-time clearance of disease, accurate staging and recurrence rates.
The effect of substratum type, orientation and depth on the development of bacterial deep-sea biofilm communities grown on artificial substrata deployed in the Eastern Mediterranean

An increasing number of deep-sea studies have highlighted the importance of deep-sea biofouling, especially in relation to the protection of deep-sea instruments. In this study, the microbial communities developed on different substrata (titanium, aluminum, limestone, shale and neutrino telescope glass) exposed for 155 days at different depths (1500 m, 2500 m, 3500 m and 4500 m) and positions (vertical and horizontal) in the Eastern Mediterranean Deep Sea were compared. Replicated biofilm samples were analyzed using a Terminal Restriction Fragment Length Polymorphisms (T-RFLP) method. The restriction enzymes CfoI and RsaI produced similar total numbers (94, 93) of different T-RFLP peaks (T-RFs) along the vertical transect. In contrast, the mean total T-RF number between each sample according to substratum type and depth was higher in more samples when CfoI was used. The total species richness (S) of the bacterial communities differed significantly between the substrata, and depended on the orientation of each substratum within one depth and throughout the water column (ANOVA). T-RFLP analyses using the Jaccard similarity index showed that within one depth layer, the composition of microbial communities on different substrata was different and highly altered among communities developed on the same substratum but exposed to fouling at different depths. Based on Multidimensional Scaling Analyses (MDS), the study suggests that depth plays an important role in the composition of deep-sea biofouling communities, while substratum type and orientation of substrata throughout the water column are less important. To the authors’ knowledge, this is the first study of biofilm development in deep waters, in relation to the effects of substratum type, orientation and depth.
Instrument Mixes for Environmental Policy: How Many Stones Should be Used to Kill a Bird?

How many instruments should be used to address a particular environmental problem? That is the question this article addresses. According to the "Tinbergen rule," one instrument per target is needed. The existence of any non-environmental market failures affecting the environmental problem at hand will also require one additional instrument per market failure. However, detailed case studies reveal that it is no simple task to count neither the number of relevant targets, nor the number of instruments applied. While there are good reasons to apply several instruments in combination to address a given environmental problem (non-environmental market failures, "multi-aspect" character of many problems, cases where one instrument underpin the use of other instruments, the need to address non-environmental policy concerns, etc.), it is sometimes difficult to see that such arguments have been the main explanations for the instrument mixes in practical use. There are also cases where the environmental effectiveness or economic efficiency of an instrument mix is hampered by lacking instruments.
Stocks and currencies: are they related?

With the advent of flexible exchange rates, research into the foreign exchange expectation relation based on the purchasing power parity and interest rate parity conditions has shown that the speed of transmission of economic variables, such as the price level and interest rates, is not rapid enough to maintain parity in the short-term with the foreign exchange market. In recent years, gold prices have been used to model exchange rate behaviour, based on the fact that it is a homogeneous commodity that is traded continuously on well-organized exchanges around the world. However, while the price of gold is shown to have explanatory power for exchange rates, the forecast horizons are found to be most significant only after lags of at least six months. Another approach to exchange rate determination, the asset market approach is based on the notion that exchange rates, like asset prices, are driven by 'news' or unanticipated announcements of changes in economic variables. Both exchange rates and asset prices instantaneously discount all available information about expected future economic activity. Using a 'law of one price' model, we use the asset market approach to investigate the validity of the equity parity theory, whereby a parity relationship exists between equity and foreign exchange markets. Our results show that equity parity is achieved within a very short time, in some cases, within a oneweek period. However, the relationship appears to be a weak one. Consistent with previous research, we also find evidence to support the existence of currency blocs. We suggest that these findings could have practical applications for international investors.
Entrenched Autocracy or New Democracy: Which is Better for Business?

type="main"> The recent downfall of autocracies worldwide, most notably in the Middle East, raises the question: Do the new, more democratic regimes hold a promise of creating a better economic and business environment? To answer this question, I analyze a new large-scale firm-level dataset for the post-regime-change time horizon of up to 20 years. The main finding is that during the post-revolution time period the business environment is likely to worsen under the new politically unstable regimes that replace stable autocracies.
Responding to Crime Victims with Disabilities: The Perspective of Law Enforcement

This focus group study identified methods and techniques to improve the criminal justice system's response to crime victims with disabilities. Twenty-five city and county law enforcement officers from two northwestern settings participated in focus groups. A police officer co-facilitated the groups. Results indicate increased vulnerability of people with disabilities and explain barriers law enforcement faces in its service to crime victims with disabilities. Researchers, the disability community, and law enforcement need to work together to develop and implement efficient, effective, and realistic methods to improve the response of the criminal justice system to the victimization of people with disabilities.
Organisational antecedents of market orientation in the public university system

Purpose – Over recent years, the new public management system has made significant inroads in Spain, and brought about considerable change. This study seeks to analyse the application of market orientation theories in the context of the Spanish public university. More specifically, the paper aims to study the causal relationship between organisational factors which characterise University departments and the level of market orientation adopted by their teaching staff.Design/methodology/approach – Considering the particularities of this context an exhaustive process is followed to develop the appropriate scales to measure the different constructs studied; then the psychometric properties of these scales are checked and structural equation models applied to analyse the causal relationship between the level of market orientation adopted by the teachers and their antecedent factors.Findings – The results of the study allow one to identify and confirm that several factors significantly condition the level of m.