Miracle-dz/UniFAR-FTUs huggingface dataset:
Modeling, empirics and policy implications of firm heterogeneity in international trade

Akgul, Zeynep PhD, Purdue University, May 2015. Modeling, Empirics and Policy Implications of Firm Heterogeneity in International Trade. Major Professors: Nelson B. Villoria and Thomas W. Hertel. Computable General Equilibrium (CGE) models are essential computational tools for trade policy analysis. While traditional CGE models based on the Armington assumption of national product differentiation have been successfully applied to various policy scenarios, they also have significant limitations in explaining the firm-level information prevalent in the recent international trade literature. The pioneering work of Melitz (2003) has provided a firm heterogeneity theory that can help address the shortcomings of Armington-based CGE models by introducing additional productivity mechanisms and extensive margin effects. Incorporation of firm heterogeneity in mainstream CGE models offers great potential to improve computational policy analysis. Even though there have been some efforts to incorporate firm heterogeneity into CGE modeling, a readily accessible Global Trade Analysis Project (GTAP) implementation is currently not available. This dissertation addresses this gap by a combination of theory, calibration, estimation and simulation to develop and implement a firm heterogeneity module executed within the GTAP environment. Chapter 2 presents the newly developed firm heterogeneity module with a stylized tariff removal scenario and compares the model predictions with those of monopolistic competition and perfect competition frameworks previously established in the standard GTAP model. Chapter 3 proposes a theoretically-consistent way to parameterize the firm heterogeneity module with a focus on the elasticity of substitution across
Ownership dispersion and the London Stock Exchange's ‘two-thirds rule’: an empirical test

In the UK, in contrast to most other countries, a hallmark of corporate governance is a separation of ownership and control. There is evidence suggesting that this pattern may have been the norm in Britain as far back as the late nineteenth century. This paper investigates the extent to which law, in the form of a London Stock Exchange listing rule that prohibited the quotation of a class of securities unless two-thirds of the securities quoted had been subscribed for by and allotted to the public, contributed to this outcome. This paper tests the impact of the two-thirds rule by analysing for domestically based companies that carried out initial public offerings between 1900 and 1911 data compiled from prospectuses, a UK investors' guide and documents filed in accordance with UK companies legislation. The results indicate that the two-thirds rule did not influence ownership and control to the extent that might have been anticipated.
Platelet-Rich Plasma in Androgenic Alopecia: Myth or an Effective Tool

Platelet-rich plasma (PRP) has become a newer method for the treatment of various types of alopecia. In this prospective study, safety, efficacy and feasibility of PRP injections in treating androgenic alopecia were assessed. Eleven patients suffering from hair loss due to androgenic alopecia and not responding to 6 months treatment with minoxidil and finasteride were included in this study. The hair pull test was performed before every treatment session. A total volume of 2-3 cc PRP was injected in the scalp by using an insulin syringe. The treatment was repeated every two weeks, for a total of four times. The outcome was assessed after 3 months by clinical examination, macroscopic photos, hair pull test and patient's overall satisfaction. Results: A significant reduction in hair loss was observed between first and fourth injection. Hair count increased from average number of 71 hair follicular units to 93 hair follicular units. Therefore, average mean gain is 22.09 follicular units per cm2. After the fourth session, the pull test was negative in 9 patients. Conclusion: PRP injection is a simple, cost effective and feasible treatment option for androgenic alopecia, with high overall patient satisfaction.
Cross-Layer Optimization for Multilevel Cell STT-RAM Caches

Spin-transfer torque random access memory (STT-RAM), as an emerging nonvolatile memory technology, provides very dense array structure and extremely low leakage power consumption. It demonstrates a great potential in replacing conventional static random access memory technology to develop the next-generation on-chip cache memory of microprocessors and graphics processing units. The multilevel cell (MLC) design of STT-RAM that stores two or more bits in one cell potentially has higher storage capacity and faster system performance, attracting significant attention. In this paper, we first quantitatively evaluated the data storage density of the MLC STT-RAM. Our results revealed limited density improvement because of the large size of access transistor induced by high write current amplitude requirement and asymmetry of switching behavior. Moreover, the read and write accesses of existing MLC STT-RAM cache designs require two-step operation. The system level evaluation shows that the long access latency could amortize the performance speed brought by larger cache size, and even degrade the system performance for some applications. To unleash the potential of MLC STT-RAM cache, we proposed a new design through a cross-layer co-optimization. The memory cell structure integrated the reversed stacking of magnetic junction tunneling for a more balanced device and design tradeoff. In architecture development, we presented an adaptive mode switching mechanism: based on application’s memory access behavior, the MLC STT-RAM cache can dynamically change between low latency single-level cell mode and high capacity MLC mode. Furthermore, we divided cache lines into fast and slow regions and investigated new data migration policies to allocate frequently access data to fast regions. Simulation results show that the proposed techniques can improve the system performance by 10.2% and reduce the energy consumption on cache by 9.5% compared with conventional MLC STT-RAM cache design.
An in vitro model of pig liver xenotransplantation—pig complement is associated with reduced lysis of wild‐type and genetically modified pig cells

Hara H, Campanile N, Tai H‐C, Long C, Ekser B, Yeh P, Welchons D, Ezzelarab M, Ayares D, Cooper DKC. An in vitro model of pig liver xenotransplantation—pig complement is associated with reduced lysis of wild‐type and genetically modified pig cells. Xenotransplantation 2010; 17: 370–378. © 2010 John Wiley & Sons A/S.
Extrinsic motivation, PSM and labour market characteristics: a multilevel model of public sector employment preference in 26 countries

Research findings have been contradictory with respect to the determinants of why people choose a public sector job. In this article we use an internationally comparative design with data from 26 countries to explain public sector employment preference. The study shows that on the individual level, public service motivation and extrinsic motivation are both important drivers for this preference. Intrinsic motivation, in turn, is negatively related to people’s inclination to work for the public sector. Moreover, having a lower income and lower education is associated with a greater preference for public sector employment. This suggests that working for the public sector is seen as a good and safe career option. Our results furthermore show that variation in this preference can only partly be explained by country differences. Nevertheless, in countries with a career- rather than position-based system of public employment, people are more likely to prefer public employment. Points for practitioners Attracting the best and brightest to work for the public sector requires an insight into why people prefer public over private sector employment. This article looks at what makes people prefer public sector employment in 26 countries. Findings reveal that public service motivation (helping other people, being useful to society) and extrinsic motives (job security, a high income, opportunities for advancement) play an important role in this preference. Still, there are considerable differences between countries. In countries with a career-based system of public employment, working in the public sector is seen as more attractive.
Should You Carry the Load? A Comprehensive Analysis of Load and No-Load Mutual Fund Out-of-Sample Performance

Abstract This paper compares the out-of-sample performance of no-load and load mutual funds. Unlike previous studies, this paper provides a more comprehensive analysis as it uses methodologies to incorporate loads directly into the returns. We find two important results. First, after adjusting for loads in the returns data, no-load funds are found to perform much better than load funds, with the differences found to be significant at the 1% level across many different performance metrics. Second, we find that within load funds themselves there is little significant difference in out-of-sample performance between high-load funds and low-load funds even after adjusting for loads.
Definitive Assignment of Proton Selectivity and Attoampere Unitary Current to the M2 Ion Channel Protein of Influenza A Virus

ABSTRACT The viral ion channel protein M2 supports the transit of influenza virus and its glycoproteins through acidic compartments of the cell. M2 conducts endosomal protons into the virion to initiate uncoating and, by equilibrating the pH at trans-Golgi membranes, preserves the native conformation of acid-sensitive viral hemagglutinin. The exceptionally low conductance of the M2 channel thwarted resolution of single channels by electrophysiological techniques. Assays of liposome-reconstituted M2 yielded the average unitary channel current of the M2 tetramer—1.2 aA (1.2 × 10−18 A) at neutral pH and 2.7 to 4.1 aA at pH 5.7—which activates the channel. Extrapolation to physiological temperature predicts 4.8 and 40 aA, respectively, and a unitary conductance of 0.03 versus 0.4 fS. This minute activity, below previous estimates, appears sufficient for virus reproduction, but low enough to avert abortive cytotoxicity. The unitary permeability of M2 was within the range reported for other proton channels. To address the ion selectivity of M2, we exploited the coupling of ionic influx and efflux in sealed liposomes. Metal ion fluxes were monitored by proton counterflow, employing a pH probe 1,000 times more sensitive than available Na+ or K+ probes. Even low-pH-activated M2 did not conduct Na+ and K+. The proton selectivity of M2 was estimated to be at least 3 × 106 (over sodium or potassium ions), in agreement with electrophysiological studies. The stringent proton selectivity of M2 suggests that the cytopathology of influenza virus does not involve direct perturbation of cellular sodium or potassium gradients.
Money, Financial Markets, and the Coherence of a Market Economy

market economy with the trading that takes place in a village's market square. To this day, formal economic theory makes this demonstration by investigating the characteristics of an abstract trading process. But its validity depends on showing that the "coherence" property demonstrated for the abstract trading process can be preserved when the model is altered to allow for the formalized concepts of production, labor, capital assets, monopoly, and money. As Arrow and Hahn noted in chapter 14, the proposition that a decentralized market yields a coherent result has not yet been shown to hold for an economy where money is represented by contracts created through banking processes, and capitalist financial practices are required to support the purchase of expensive, long-lived capital assets. This is not surprising, since a Keynesian analysis of the interactions among money creation, asset pricing, and investment in the development of the economy through time
Incentives for Care, Litigation, and Tort Reform under Self-Serving Bias

This chapter presents a strategic model of incentives for care and litigation under asymmetric information and self-serving bias, and studies the effects of damage caps. Our main findings are as follows. First, our results suggest that the defendant's bias decreases his expenditures on accident prevention, and hence, increases the likelihood of accidents. Second, both litigants' biases increase the likelihood of disputes. Third, our results indicate that, although self-serving bias help litigants commit on tough negotiation positions, it is economically self-defeating for the informed plaintiff. Fourth, our findings suggest that that the plaintiff's bias is always welfare reducing. The defendant's bias is welfare reducing if under-deterrence is present. We then illustrate the benefits of incorporating self-serving bias into the theoretical analysis of tort reform by studying the effects of damage caps. We find that this tort reform decreases the defendant's level of care if the biased defendant perceives the cap as relatively low. Importantly, we find that the positive effect of damage caps on lowering the likelihood of disputes, commonly attributed to this tort reform, might not necessarily be observed in environments with biased litigants: Caps might induce higher likelihood of disputes if the defendant perceives the cap as relatively low, and the plaintiff perceives the cap as relatively high. As a result, this tort reform might be welfare reducing.
Determinants of renewable energy adoption in China and India: a comparative analysis

This article examines the dynamic relationships among output, carbon emission and renewable energy generation of India and China during the period 1972 to 2011 using a multivariate vector error correction model (VECM). The results for India reveal unidirectional short-run causality from carbon emission to renewable energy generation and from renewable energy generation to output, whereas in the long run, the variables have bidirectional causality. Causalities in China give a rather different scenario, with a short-run unidirectional causality from output to renewable energy and from carbon emission to renewable energy generation. In the long run, for China, unidirectional causality is found from output to renewable energy generation, while bidirectional causality is found between carbon emission and renewable energy generation.
Risk Reduction in Style Rotation

Dupleich Ulloa, Giamouridis, and Montagu investigate the potential improvement in the implementation of style rotation strategies by techniques addressing estimation errors. They select two approaches that have recently stood out in the statistics and econometrics literature and have been applied to portfolio construction. One approach builds on regularization methods, addressing estimation error by focusing on the weights of the constructed portfolios.The second method pools forecasts that are obtained across different observation windows, thus focusing on minimizing estimation error in the moments of the return distribution that may arise due to structural breaks. The authors conclude that overall benefits are derived by foregoing naive approaches, which in their dataset can be as significant as an improvement in the Information Ratio of about 54%; that is, improving from 0.65 (naive) to approximately 1 (dynamic).
Transforming Recent Gains in the Digital Divide into Digital Opportunities: Africa and the Boom in Mobile Phone Subscription

This paper discusses the mobile phone boom in Africa and examines the potential impacts of mobiles on the socio‐economic development process in African countries. Drawing on data from case studies, the paper explains that mobile phones may not just help create new jobs and new sources of revenue to the state but can also contribute to economic growth by widening markets, creating better information flow, lowering transaction costs, and becoming substitute for costly transportation that is lacking in rural Africa. On the social front, the paper contends that the mobile phone can help create unique personal identities and status symbols for some users. The technology also facilitates the democratic process as groups can use the enhanced communication tools for political and community action thereby reducing the reliance on conventional and often government controlled media. The paper discusses these and other ways by which mobile phones can influence conditions in Africa to induce changes that promote economic and social development. The paper concludes with suggestions that can strengthen ICT adoption in African countries.
An examination of manufacturing organizations' performance evaluation: Analysis, implications and a framework for future research

The utilization of financial and non‐financial measures in the evaluation of manufacturing organizations' performance is studied for a sample of 79 Portuguese financial analysts. Cluster analysis and multiple regression analysis are used to study the extent of use, importance and availability of information for 63 financial and non‐financial measures. The results derived from this study point to the increasing importance of non‐financial measures in the evaluation of manufacturing performance. Organizational and managerial implications of the findings are discussed, and a framework for future research is presented.
Could the Freshly Extracted Teeth be a New Alternative for Autogenous Bone Grafts in Dento-Alveolar Bone Defects?

Dento-alveolar bony defects pose a significant problem when dental implants are planned. Dental implant placement in the atrophic alveolar ridge is often limited by the lack of alveolar bone height and width. Reconstructive alternatives for dento-alveolar bone defects are a prerequisite to enhance the success of dental implants functionally and aesthetically. Various graft materials have been developed especially for implant procedures. According to bone-healing mechanisms, they can be categorized into materials that induce osteogenesis, osteoinduction, and osteoconduction. Autogenous grafts which still considered the gold standard are capable of osteogenesis, osteoinduction, and osteoconduction. However, the use of autogenous tissue involves the need of harvesting it from a donor site, with the consequent drawbacks in terms of costs, procedure time, patient discomfort and possible complications. Ideally, the graft material is required to have the ability to facilitate osteogenesis, stability when implanted with the graft, low risk of infection, ready availability, low antigenicity, and a high-level of reliability [1].
Deep Coverage of the Escherichia coli Proteome Enables the Assessment of False Discovery Rates in Simple Proteogenomic Experiments*

Recent advances in mass spectrometry (MS) have led to increased applications of shotgun proteomics to the refinement of genome annotation. The typical “proteo-genomic” workflows rely on the mapping of peptide MS/MS spectra onto databases derived via six-frame translation of the genome sequence. These databases contain a large proportion of spurious protein sequences which make the statistical confidence of the resulting peptide spectrum matches difficult to assess. Here we performed a comprehensive analysis of the Escherichia coli proteome using LTQ-Orbitrap MS and mapped the corresponding MS/MS spectra onto a six-frame translation of the E. coli genome. We hypothesized that the protein-coding part of the E. coli genome approaches complete annotation and that the majority of six frame-specific (novel) peptide spectrum matches can be considered as false positive identifications. We confirm our hypothesis by showing that the posterior error probability distribution of novel hits is almost identical to that of reversed (decoy) hits; this enables us to estimate the sensitivity, specificity, accuracy, and false discovery rate in a typical bacterial proteo-genomic dataset. We use two complementary computational frameworks for processing and statistical assessment of MS/MS data: MaxQuant and Trans-Proteomic Pipeline. We show that MaxQuant achieves a more sensitive six-frame database search with an acceptable false discovery rate and is therefore well suited for global genome reannotation applications, whereas the Trans-Proteomic Pipeline achieves higher specificity and is well suited for high-confidence validation. The use of a small and well-annotated bacterial genome enables us to address genome coverage achieved in state-of-the-art bacterial proteomics: identified peptide sequences mapped to all expressed E. coli proteins but covered 31.7% of the protein-coding genome sequence. Our results show that false discovery rates can be substantially underestimated even in “simple” proteo-genomic experiments obtained by means of high-accuracy MS and point to the necessity of further improvements concerning the coverage of peptide sequences by MS-based methods.
The direct kinematics of parallel manipulators under joint-sensor redundancy

We study, for each of the possible joint-sensor layouts, the subspaces into which the motion of the hip-attachment points of parallel manipulators are completely measured. The projection of the motion of these points onto their subspaces allows us to write the underlying direct kinematics as a linear algebraic system constrained by the proper orthogonality of the rotation matrix. Although the solution of this problem requires a nonlinear technique, we propose a linear procedure that provides what we term a polar least square estimate. The resulting procedure is fast, robust to measurement noise, and produces estimates with about the same accuracy as a nonlinear procedure.
Challenges and opportunities in innovative firms' network development

The purpose of this paper is to describe and discuss challenges and opportunities related to the development of innovative firms' networks. The paper utilises four case studies based on interviews with representatives of young innovative firms and their present and previous network partners. The findings show that while early network partners often play several roles simultaneously, the roles of both the innovative firm and its network partners become increasingly distinct as the innovative firm develops. Such clarification of roles highlights competition between parties. For the innovative firm, the early phases are marked by innovativeness and problems related to growth and financial issues; later phases may include challenges of dependence, competition, exclusion of actors, decreased innovativeness and less innovative freedom.
Cities and Skills

Workers in cities earn 33% more than their nonurban counterparts. A large amount of evidence suggests that this premium is not just the result of higher ability workers living in cities, which means that cities make workers more productive. Evidence on migrants and the cross effect between urban status and experience implies that a significant fraction of the urban wage premium accrues to workers over time and stays with them when they leave cities. Therefore, a portion of the urban wage premium is a wage growth, not a wage level, effect. This evidence suggests that cities speed the accumulation of human capital.
Business Model Innovation to Create and Capture Resource Value in Future Circular Material Chains

This article briefly discusses the origins and development of the business model concept resulting in a high level definition. Against this backdrop, frameworks from the literature around green business models with examples of green business models and the business model innovation process are presented. The article then discusses the origins and meaning of different "green" concepts relevant for the circular value chain concluding with a high level definition. The article finally outline the process by which a business model for a circular value chain can be developed taking into account the social dilemma that exist in these type of situations. The article concludes with the specific questions that need to be answered in order to create an appropriate business model for a circular value chain.