Miracle-dz/UniFAR-FTUs huggingface dataset:
Joint pricing of VIX and SPX options with stochastic volatility and jump models

Purpose - – This paper studies the performance of commonly employed stochastic volatility and jump models in the consistent pricing of The CBOE Volatility Index (VIX) and The S&P 500 Index (SPX) options. With the existence of active markets for volatility derivatives and options on the underlying instrument, the need for models that are able to price these markets consistently has increased. Although pricing formulas for VIX and vanilla options are now available for commonly used models exhibiting stochastic volatility and/or jumps, it remains to be shown whether these are able to price both markets consistently. This paper fills this vacuum. Design/methodology/approach - – In particular, the Heston model, the Heston model with jumps in returns and the Heston model with simultaneous jumps in returns and variance (SVJJ) are jointly calibrated to market quotes on SPX and VIX options together with VIX futures. Findings - – The full flexibility of having jumps in both returns and volatility added to a stochastic volatility model is essential. Moreover, we find that the SVJJ model with the Feller condition imposed and calibrated jointly to SPX and VIX options fits both markets poorly. Relaxing the Feller condition in the calibration improves the performance considerably. Still, the fit is not satisfactory, and we conclude that one needs more flexibility in the model to jointly fit both option markets. Originality/value - – Compared to existing literature, we derive numerically simpler VIX option and futures pricing formulas in the case of the SVJ model. Moreover, the paper is the first to study the pricing performance of three widely used models to SPX options and VIX derivatives.
Preferência pela liquidez, racionamento de crédito e concentração bancária uma nova teoria pós-keynesiana da firma bancária

The objective of the present article is to present a general model of the banking firm beha-vior which encompasses the post Keynesian theory of bank's liquidity preference, the Stiglitz-Weiss´s hypothesis that expected default rate is an increasing function of loan interest rate and the Tobinisque hypothesis that the deposit retention coefficient is an increasing function of the concentration ratio in banking industry. This general model allows us to arrive at some interesting conclusions. First of all, we show that the optimal banking spread is an increasing function of the concentration ratio in banking industry. Second, we show that an increase in the level of the interest rate controlled by the Central Bank will (i) reduce the optimal level of the banking spread, and (ii) will reduce de supply of banking credit. Last, but not least, we show that an increase in the concentration ratio in banking industry has an ambiguous effect over the supply of banking credit.
Fluoride release from newly marketed fluoride varnishes.

OBJECTIVE New fluoride varnishes have been marketed that reportedly release more fluoride (Enamel Pro) or release fluoride more slowly (Vanish XT). The purpose of this study was to compare the amount and rate of fluoride release of new fluoride varnishes with other traditional fluoride varnishes. METHOD AND MATERIALS Extracted molars were cut into block sections. The enamel surfaces of the sections were painted with Enamel Pro, Duraphat, Vanish, or Vanish XT fluoride varnishes. One group was not treated and served as a negative control. The tooth sections were immersed in artificial saliva. The concentration of fluoride in parts per million was measured after the first 30 minutes, daily for the first week, and weekly until the level was below the limit of detection. Fluoride release was plotted over time. Cumulative fluoride release and rate of release (slope) were analyzed using one-way ANOVA/Tukey (α = .05). RESULTS Enamel Pro had the greatest cumulative fluoride release. There was no significant difference between Duraphat and Vanish. Vanish XT had the lowest cumulative fluoride release. The rate of fluoride release from 1 week to limit of detection was Enamel Pro > Vanish > Duraphat > Vanish XT. CONCLUSION The two newly marketed fluoride varnishes (Enamel Pro and Vanish XT) had significantly different fluoride release from the two conventional fluoride varnishes (Duraphat and Vanish).
International Marketing Channels for Brazilian Beef: Comparison between Russia and the United Kingdom

This article compares the Russian and British marketing channels for Brazilian beef distribution. The results show that the framework hereby developed aids understanding of the differences and the reasons for the organizational form of these channels. The findings also show that there is a difference in the way these channels are organized to seek efficiency in their business transactions. Institutional environment attributes are able to influence the distinction between channels in terms of transaction efficiency.
Minimal Factorizations of a Cycle and Central Multiplicative Functions on the Infinite Symmetric Group

We show that the number of factorizations? =? 1? rof a cycle of lengthninto a product of cycles of lengthsa1, ? , ar, with ? rj=1(aj? 1)=n? 1, is equal tonr? 1. This generalizes a well known result of J. Denes, concerning factorizations into a product of transpositions. We investigate some consequences of this result, for central multiplicative functions on the infinite symmetric group, and use them to give a new proof of a recent result of A. Nica and R. Speicher on non-crossing partitions.
An Autocrine Loop between TGF-β1 and the Transcription Factor Brachyury Controls the Transition of Human Carcinoma Cells into a Mesenchymal Phenotype

The epithelial–mesenchymal transition (EMT) is a process associated with the metastasis of solid tumors as well as with the acquisition of resistance to standard anticancer modalities. A major initiator of EMT in carcinoma cells is TGF-β, which has been shown to induce the expression of several transcription factors ultimately responsible for initiating and maintaining the EMT program. We have previously identified Brachyury, a T-box transcription factor, as an inducer of mesenchymal features in human carcinoma cells. In this study, a potential link between Brachyury and TGF-β signaling has been investigated. The results show for the first time that Brachyury expression is enhanced during TGF-β1–induced EMT in various human cancer cell lines, and that a positive feedback loop is established between Brachyury and TGF-β1 in mesenchymal-like tumor cells. In this context, Brachyury overexpression is shown to promote upregulation of TGF-β1 at the mRNA and protein levels, an effect mediated by activation of the TGF-β1 promoter in the presence of high levels of Brachyury. Furthermore, inhibition of TGF-β1 signaling by a small-molecule inhibitor of TGF-β receptor type I decreases Brachyury expression, induces a mesenchymal-to-epithelial transition, and renders cancer cells more susceptible to chemotherapy. This study thus has implications for the future development of clinical trials using TGF-β inhibitors in combination with other anticancer agents. Mol Cancer Ther; 12(9); 1805–15. ©2013 AACR.
Reinterpreting Core and Periphery in Australia's Mineral and Energy Resources Boom: an Innisian perspective on the Pilbara

ABSTRACT Australia's current robust macro-economic condition, at least relative to that of many comparator nations within Europe and the USA, is built largely on the nation's particular insertion into the global economy as an abundant and reliable source of mineral and energy resources. Within Australia, though, public concern is mounting over the many direct and indirect economic, environmental and social effects of mineral and energy resource extraction and processing. Resource peripheries like the Pilbara have been characterised as ‘slippery spaces’ where capital, commodities and labour rapidly flow in, and all too frequently out, of these remote regions, with the surplus from local extraction and processing captured by the ‘sticky places’—the metropolitan cores host to the national and multinational mining and energy corporations (Hayter 2003). Drawing on insights from Innis' staples theory and geographical political economy, this paper focuses on two of these closely connected concerns. First, it briefly explores the attempts to establish a redistributive mechanism with which to equitably allocate the benefits of the boom in a federal polity in which socio-spatial inequity is still regarded as a substantial public policy concern. Second, shifting the focus to the regional and local scales of the Pilbara and its scattered towns, the paper critically explores the ‘Pilbara Cities’ initiative, funded by the ‘Royalties for Regions’ scheme, querying whether or not this ambitious plan can create the conditions for the development of functionally complex local and regional economies.
Career Concerns and Excessive Risk Taking

type="main"> In a seminal paper, Holmstrom ( ) shows that an agent who is unsure of her ability and has a payoff linear in her reputation underinvests in risky projects. I show that if the agent privately knows her ability, then the opposite must happen, that is, she always overinvests in risky projects, no matter what the curvature of her payoff in reputation. Moreover, if project quality is verifiable and the agent is uninformed about her ability, then she reveals project quality and first best is attained; but if she privately knows her ability, first best is not attainable and she still overinvests.
Multi-Period Competition with Switching Costs

The authors analyze the evolution of duopolists' prices and market shares in an infinite-period market with consumer switching costs in which in every period new consumers arrive and a fraction of old consumers leaves. They show prices (and profits) are higher than without switching costs and that this result does not depend importantly on their specific assumptions. The authors show switching costs make the market more attractive to a new entrant, even though an entrant must overcome the disadvantage that a large fraction of the market is already committed to the incumbent's product. They also examine the effects of market growth. Copyright 1992 by The Econometric Society.
Search, Hiring Strategies, and Labor Market Intermediaries

Labor market intermediaries play an important role in turnover in many labor markets. This paper analyzes one class of such intermediaries, namely, search firms. We first model the hiring decision of the firm in both succession and replacement planning. We show that employers will, in equilibrium, use search firms to find new hires even where the search firms have no technological advantage in search. This can be interpreted as being due to the search firms' ability to diversify away sampling risk.
Waveform and location analyses of localised lightning locating system

Lightning mapping or locating systems are based on several working principles such as the Time of Arrival (ToA) and the Directional Finder (DF). The country wide lightning locating system (LLS) owned by TNB Malaysia is able to determine the coordinate of the cloud-to-ground lightning strike within 500m accuracy. A new method is proposed to determine the coordinate of any cloud-to-ground lightning strike within a certain local region with a better accuracy. The localised LLS is based on the measurement of induced voltages due to lightning strikes in the vicinity of an existing overhead telephone lines. The localised lightning locating system (LLLS) is made up of three components: an overhead telephone line, a voltage surge measuring system, and a central processing station. The overhead telephone line was purposely constructed in such a way to simply form a Cartesian system suitable for lightning strike location mapping. The mapping of the lightning strike locations was successfully implemented using a Lab View based program. Simulated lightning as well as real lightning data were used in this study. The induced voltage waveforms were compared with other previously published data. The location calculations were compared with those obtained from the national LLS. Results show that the LLLS captures more lightning strikes during the period of the study.
Reoperative Cardiac Valve Surgery: A Multivariable Analysis of Risk Factors

From December 1983 to March 1992, of 1650 patients who underwent a cardiac valve procedure 41 (2.5%) underwent reoperation on prosthetic heart valves. The indications for reoperation were: structural degeneration (13 patients, 32%), non-structural dysfunction (nine patients, 22%), prosthetic valve endocarditis (seven patients, 17%), valve thrombosis (four patients, 10%), native valve pathology (three patients, 7%), aortic ascending pathology (five patients, 12%). The hospital mortality rate for mitral vale reoperation was 12% (two of 17) and for reoperation on the aortic prosthesis 26% (five of 19). No deaths occurred for associated mitral and aortic rereplacement (zero of five). The mortality rate for associated procedures was 24% (four of 17) versus 12% (three of 24) for isolated procedures. Preoperative and operative variables were analysed to determine risk factors for hospital mortality. New York Heart Association functional class, ascites, endocarditis and surgical timing had a univariate influence on operative mortality. The pulmonary capillary wedge pressure and preoperative creatinine level were also higher in non-survivors. Elective reoperation had a mortality rate of 7%, while that for emergency procedures was 38%. Multivariable analysis indicated a longer extracorporeal circulation time and the urgent-emergency status as predictors of mortality. Reoperation before severe hemodynamic impairment occurs is recommended.
Measuring the Effect of File Sharing on Music Purchases*

File sharing may substantially undermine the intellectual property rights of digital goods. This paper concentrates on the music industry. I estimate the effect of music downloads on the probability of purchasing music using a European individual‐level cross section of 15,000 people from 2001. A simple comparison of means shows that people who regularly download music online are more likely to buy music. The positive relationship persists when controlling for observed characteristics. However, simultaneity between tastes for music and peer‐to‐peer usage makes it difficult to isolate the causal effect of music downloads on music purchases. To break that simultaneity, this paper uses measures of Internet sophistication and the speed of the Internet connection as instruments. The results suggest that peer‐to‐peer usage reduces the probability of buying music by 30 percent. On the basis of my estimates, back‐of‐the‐envelope calculations indicate that—without downloads—sales in 2002 would have been around 7.8 percent higher.
Accuracy analysis of the method of auxiliary sources (MAS) for scattering from a two-layer dielectric circular cylinder

The paper rigorously investigates the accuracy of MAS when the method is applied to normal incidence scattering by an infinite circular cylinder composed of two dielectric layers. For this particular scattering configuration, we prove that the MAS matrix is analytically invertible. Numerical and analytical results for the computational error, which results from numerical inversion, are presented. Finally, error minimization indicates the auxiliary sources' optimal location.
Under the influence of the team? An investigation of the relationships between team autonomy, individual autonomy and social influence within teams

This study contributes to the debate about whether teamwork facilitates or constrains the single team member's autonomy at work. We investigate whether team autonomy can explain employees' individual autonomy, the teams' informal influence on its members and employees' desire for either individual or team influence. Questionnaire data were collected among employees in four Danish companies from different industries with various types of team organization: permanent, project-based and mixed teams. The results of the multiple regression analyses show that team autonomy is positively associated with individual autonomy, which is neither moderated by the team's ability to make the employee feel responsible nor by team support. Team autonomy is positively associated with facilitative social influence, i.e. team reward, team support and we find a negative association between team autonomy and team coercion. Moreover, employees who experienced more team than individual autonomy wanted their teams to control more work issues compared to employees who experienced lower team than individual autonomy.
Linking supervisor's role in training programs to motivation to learn as an antecedent of job performance

According to the literature pertaining to human resource development (HRD), a supervisor’s role in training programs has two major characteristics: support and communication. The ability of supervisors to play effective roles in training programs may increase employees’ job performance. More importantly, extant research in this field reveals that the effect of the supervisor’s role in training programs on job performance is indirectly affected by the motivation to learn. The nature of this relationship is less emphasized in training management literature. Therefore, this study was conducted to measure the effect of the supervisor’s role in training programs and the motivation to learn on job performance using 91 usable questionnaires gathered from employees who have worked in a state library in East Malaysia, Malaysia. The outcomes of stepwise regression analysis displayed that the inclusion of motivation to learn in the analysis had increased the effects of the two supervisor’s role elements of support and communication on job performance. This result demonstrates that the motivation to learn acts as a mediating variable in the training model of the organizational sample. The implications of this study to the theory and practice of training programs, methodological and conceptual limitations as well as future directions are elaborated.
Smoking and family history and risk of aneurysmal subarachnoid hemorrhage

Objective: Smoking and family history of aneurysmal subarachnoid hemorrhage (aSAH) are independent risk factors for aSAH. Using a population-based case-control study of hemorrhagic stroke, we hypothesized that having both a first-degree relative with a brain aneurysm or SAH (+FH) and current smoking interact to increase the risk of aSAH. Methods: Cases of aneurysmal SAH were prospectively recruited from all 17 hospitals in the five-county region around the University of Cincinnati. Controls were identified by random digit dialing. Controls were matched to cases of aSAH by age (±5 years), race, and sex. Conditional multiple logistic regression was used to identify independent risk factors. For deviation from the additive model, the interaction constant ratio test was used. Results: A total of 339 cases of aSAH were matched to 1,016 controls. Compared to current nonsmokers with no first-degree relatives with aSAH (−FH), the odds ratio (OR) for aSAH for current nonsmokers with +FH was 2.5 (95% confidence interval [CI] 0.9–6.9); for current smokers with −FH, OR = 3.1 (95% CI 2.2–4.4); and for current smokers with +FH, OR = 6.4 (95% CI 3.1–13. 2). The interaction constant ratio, which measured the deviation from the additive model, was significant: 2.19 (95% CI 0.80–5.99). The lower bound of the 95% CI >0.5 signifies a departure from the additive model. Conclusion: Evidence of a gene–environment interaction with smoking exists for aneurysmal subarachnoid hemorrhage. This finding is important to counseling family members and for screening of intracranial aneurysm (IA) as well as the design and interpretation of genetic epidemiology of IA studies.
Drug-Related Eyelid Nystagmus: Two Cases of a Rare Clinical Phenomenon Related to Carbamazepine and Derivatives

BackgroundEyelid nystagmus is a rare clinical phenomenon described mostly related to brainstem or cerebellum lesions. The mechanism of this phenomenon is incompletely understood. Patients and MethodsWe report 2 cases of eyelid nystagmus induced by carbamazepine and oxcarbazepine intoxication. ConclusionsCarbamazepine and derivatives may induce eyelid nystagmus in the setting of acute intoxication. To the best of our knowledge, these are the first cases of drug-related eyelid nystagmus.
Food for thought: television food advertising to children in the United States

As the fight against childhood obesity escalates, the issue of food advertising to children has come under increasing scrutiny. Policymakers in Congress, the Federal Trade Commission (FTC) and agencies such as the Institute of Medicine (IOM) have called for changes in the advertising landscape, and U.S. food and media industries are developing their own voluntary initiatives related to advertising food to children. To help inform this debate, the Kaiser Family Foundation released the largest study ever conducted of TV food advertising to children. The study combines content analysis of TV ads with detailed data about children? s viewing habits to provide an estimate of the number and type of TV ads seen by children of various ages.
Survival Determinants for Online Retailers

Survival determinants can influence important strategic decisions. Analysis of longitudinal data on 418 online retailers in fourteen Bizrate product categories yields insights into key survival determinants. Survival tends to be easier for introductory versus growth stage entrants. Survival, however, is more difficult for e-tailers who sell touch and feel products and for pure e-tailers who do not have the support of either brick and mortar stores or catalog operations. While introductory stage entrants have higher survival rates versus growth stage entrants, there is no significant impact for rank order of entry or pioneer leadtime. These mixed results point to modest early mover advantages in online retailing. While some e-tailers like Amazon.com benefited from moving early, many others suffered from pioneer burnout.
Imatinib cessation in children and adolescents with chronic myeloid leukemia in chronic phase

Imatinib can be safely discontinued in adults with chronic myeloid leukemia (CML) where there is a prolonged complete molecular response (CMR). No data are available in the pediatric population. Six children with CML discontinued imatinib by themselves. Only three of them were in CMR but for <2 years. A significant increase in transcript level was observed in all six patients after cessation of imatinib and five patients lost the major molecular response (MMR). Four patients regained the MMR within 3 months. Cessation of imatinib in children is not recommended outside a trial, particularly in patients without prolonged CMR. Pediatr Blood Cancer 2014;61:355–357. © 2013 Wiley Periodicals, Inc.
Generalized procedure for BLDC motor design and substantiation in MagNet 7.1.1 software

In this paper, a generalized procedure for designing a Permanent Magnet Brushless DC motor (PMBLDCM) based on design equations is presented. The formulated algorithm can provide a design solution either dependent variables or independent variables are available. A step by step procedure of the design validation and analysis using the MagNet 7.1. 1 software is illustrated. The main attention is dedicated to exploit the MagNet 7.1. 1 software as a teaching material to enable the fundamental design of PMBLDCM with interactive screen shots. The design equations and results such as Projected 3D views, Flux patterns and Cogging torque are presented for 27 slots, 8 pole and 0.75kW PMBLDCM.