Miracle-dz/UniFAR-FTUs huggingface dataset:
The Formation of Price Forecasts in Experimental Markets

This study utilizes laboratory experimental methods to evaluate the empirical validity of: (1) "Muthian" rational expectations assumptions, (2) an adaptive expectations model, and (3) an extrapolative expectations model. Over 5 00 price forecasts from 146 participants in twelve experimental double-auction m arkets with a cash reward structure are analyzed. The forecasting objective is t hemean price over a sequence of trading periods governed by stationary market parameters. The price forecasts are found to be inconsistent with strict Muthian rational expectations and the extrapolative modelis not supported by the data. However, the forecasts generally support the adaptive expectations model. Copyright 1987 by Ohio State University Press.
The Case of the Missing Money

THE RELATION between the demand for money balances and its determinants is a fundamental building block in most theories of macroeconomic behavior. Since it is also a critical component in the formulation of monetary policy, it is not surprising that the money-demand function has been subjected to extensive empirical scrutiny. The evidence that emerged, at least prior to 1974, suggested that only a few factors (essentially income and interest rates, with due allowance for lags) were needed to explain adequately the quarterly movements in money demand. There were episodes that, during their course, gave the impression that the moneydemand function was shifting. On the whole, however, in the time allowed for final data revisions by a "wait and see" attitude, the apparent puzzles tended to clear up. ' As has been widely documented,2 the U.S. economy is once again experiencing an apparent shift in the money-demand function. In particular, when money-demand functions that have been successfully fitted to pre1974 data are extrapolated into the post-sample period, they consistently and significantly overpredict actual money demand. Furthermore, as the economy has moved into the upturn phase of the business cycle, the forecasting errors have mushroomed. While one might hope that subsequent data revisions could "solve" the present puzzle, this sanguine attitude seems unwarranted for a variety of reasons. First, the sheer magnitudes of the forecasting errors suggest that im-
Measures of Language Development in Fictional Narratives of Latino Children.

PURPOSE This preliminary study was designed to determine whether commonly used measures of language productivity, sentence organization, and story structure were sensitive to developmental differences in narratives produced by Latino preschool children from a low-socioeconomic status (SES) community. METHOD Twenty-four children, divided equally into younger and older groups, produced oral narratives that corresponded with the wordless picture book, Frog, Where Are You? (Mayer, 1969). Their narratives were analyzed for productivity (total number of words, total number of different words), sentence organization (number of utterances, mean length of C unit in words, and percentage of grammatically acceptable utterances), and story structure (complete and incomplete narrative episodes). RESULTS The length of children's narratives did not differ significantly by age. However, older Latino children produced stories that contained longer sentences, a higher proportion of grammatically acceptable sentences, and more complete episodes than did younger children. CLINICAL IMPLICATIONS These results suggest that measures of language productivity (such as total number of words and number of different words) that reflect developmental differences in monolingual mainstream preschoolers may not be sensitive indicators of narrative language development in young Latino children from low-SES environments. However, measures of syntactic accuracy and episodic structure are likely to be valid indicators of developmental changes in these children's narrative abilities.
Consumer attitudes, system's characteristics and internet banking adoption in Malaysia

Purpose – This paper examines the determinant structure of customers’ attitude system's characteristics on adoption of internet banking (IB) by Malaysian bank customers.Design/methodology/approach – The research framework links attitudinal constructs such as importance of IB to customers’ banking needs, compatibility, complexity, trialability, and risk to internet banking adoption. Moreover, the impact of IB site design characteristics on adoption was also verified. An online questionnaire was used in this research and respondents were approached through extensive personalized email invitations as well as postings to the newsgroups.Findings – The results of the study reveal that the attitudinal factors play a significant role in internet banking adoption. Moreover, utilitarian orientation of the website rather than hedonic orientation has significant influence on adoption. Details of the results, implications of the findings, and conclusions are presented.Research limitations/implications – The reliabilit.
Incentives and Mutual Fund Performance: Higher Performance or Just Higher Risk Taking?

We study the impact of contractual incentives on the performance of mutual funds. We find that high-incentive contracts induce managers to take more risk and reduce the funds' probability of survival. Yet, funds with high-incentive contracts deliver higher risk-adjusted return, and the superior performance remains persistent. The top incentive quintile of funds outperforms the bottom quintile by 2.70% per year. Moreover, high-incentive winner funds from one year have a positive alpha of 0.41% per month in the following year. Focusing on funds' holdings, we show that active portfolio rebalancing is the main channel through which incentives increase performance. The Author 2008. Published by Oxford University Press on behalf of The Society for Financial Studies. All rights reserved. For Permissions, please e-mail: journals.permissions@oxfordjournals.org, Oxford University Press.
Comparing reusable textile and disposable products

Carl Lehrburger is a waste reduction, recycling and product development consultant living in western Massachusetts. Jocelyn Mullen, an environmental engineer who consults with the resource recovery and reusable textile industries, lies in Colorado Springs, Colorado. Their firm, Lehrburger Mullen, has completed severa1 studies on behalf of trade associations which contrast reusable and disposable products. The article is based on a study completed by Jocelyn Mullen and Carl Lehrburger under contract to the Textile Renta1 Services Association of America and the Institute of Industrial Launderers, November 1991.
Disability and employment: a comparative critique of UK legislation

The social and employment rights of people with disabilities are now an issue of political importance in most advanced industrial economies. This paper examines the UK's employment policy on disability against international comparators. The first section identifies two dominant international disability paradigms, one deriving from the USA and focusing on strong anti-discrimination measures and civil rights, the other European in origin and relying primarily on compulsory employment quotas and extensive state intervention. The UK's recently introduced Disability Discrimination Act 1995 (hereafter DDA) is shown to sit outside both these paradigms. The DDA's anti-discrimination stance is limited by restrictive definitions and qualifying conditions that make it but a pale reflection of its US counterpart, the Americans with Disabilities Act (ADA), while, by abandoning employment quotas, it diverges from the systems of compulsory employer obligation being developed in other EU countries. The paper's second section uses data from a UK study of employer attitudes towards the employment of disabled people to show that the likelihood of encountering good practice is linked to the presence of a specialist HR manager which itself is associated with increasing size of workforce. The final section asks whether the newly introduced DDA has the power to address the gaps in good practice identified by the research more effectively than the US and continental European alternatives.
Comparing Overall Effects of Family Background on Homeownership During Early Life Course

This paper considers the overall effect of family background on homeownership by applying sibling correlation models. Sex differences, differences between singles and couples, and variation during the early life course (25–35 years old) are analysed using Finnish register data. These models enable the estimation of the overall effect of the family background, irrespective of identifying mechanisms behind these effects. The results indicate that family background has a significant effect, explaining around 11 per cent of the variation in the probability of homeownership. The effects for men living without a partner were significantly higher than for men living with a partner: around 24 per cent and 12 per cent, respectively. No corresponding difference for women could be established. These findings suggest that the effect of family background on homeownership is, in general, high and especially so for single men.
Capital Structure, Shareholder Rights, and Corporate Governance

We show how capital structure is influenced by the strength of shareholder rights. Our empirical evidence shows an inverse relation between leverage and shareholder rights, suggesting that firms adopt higher debt ratios where shareholder rights are more restricted. This is consistent with agency theory, which predicts that leverage helps alleviate agency problems. This negative relation, however, is not found in regulated firms (i.e., utilities). We contend that this is because regulation already helps alleviate agency conflicts and, hence, mitigates the role of leverage in controlling agency costs. 2007 The Southern Finance Association and the Southwestern Finance Association.
Short Selling and the Price Discovery Process

We show that stock prices are more accurate when short sellers are more active. First, in a large panel of NYSE-listed stocks, intraday informational efficiency of prices improves with greater shorting flow. Second, at monthly and annual horizons, more shorting flow accelerates the incorporation of public information into prices. Third, greater shorting flow reduces post-earnings-announcement drift for negative earnings surprises. Fourth, short sellers change their trading around extreme return events in a way that aids price discovery and reduces divergence from fundamental values. These results are robust to various econometric specifications, and their magnitude is economically meaningful. The Author 2012. Published by Oxford University Press on behalf of The Society for Financial Studies. All rights reserved. For Permissions, please e-mail: journals.permissions@oup.com. , Oxford University Press.
A Longitudinal Analysis of Loneliness Among Older People in Great Britain

ABSTRACT Longitudinal studies of loneliness among older people are comparatively rare. At 8 years after the initial survey in 1999–2000, we followed up on the 999 people aged 65+ years who were living in the community in the United Kingdom. We found that 583 participants were still alive, and 287 (58%) participated in the follow-up survey. The overall prevalence of loneliness at both time points was very similar, with 9% reporting severe loneliness; 30% reporting that they were sometimes lonely, and 61% reporting that they were never lonely. We developed a 12-category typology to describe changes in loneliness across the follow-up period and report that 60% of participants had a stable loneliness rating, with 40–50% rating themselves as never lonely, and 20–25% rating themselves as persistently lonely; 25% demonstrated decreased loneliness, and approximately 15% demonstrated worse loneliness. Changes in loneliness were linked with changes in marital status, living arrangements, social networks, and physical health. Importantly improvements in physical health and improved social relationships were linked to reduced levels of loneliness. This result suggests that strategies to combat loneliness are not confined to the arena of social interventions such as befriending services, which aim to build and support social embeddedness, but may also result from the treatment of chronic and long-term health conditions.
Physicians’ Attitudes and Beliefs About Deaf Patients

Background: We wanted to validate reports that deaf persons have difficulty obtaining medical care by comparing physicians’ attitudes towards these patients with physicians’ attitudes toward their patients in general. Methods: Two questionnaires were randomly distributed to physicians attending continuing medical education conferences at the University of Michigan during a 3-month period. The questionnaires were identical except that one asked about deaf patients and the other about patients in general. The questions assessed the respondent’s perceptions of communication with patients, attitudes toward their patients, knowledge of current information about deaf people, and demographics. Results: One hundred sixty-five physicians responded, 94 to the general questionnaire and 71 to the deaf questionnaire. The two physician groups were similar demographically, but 165 differed significantly in communication and attitude variables. Physicians receiving the questionnaire focusing on deaf patients reported greater difficulties in understanding (P < 0.001) and maintaining free-flowing conversations (P < 0.001), and that these patients had more difficulty understanding them (P < 0.001), trusted them less (P < 0.001), asked them to repeat statements more often (P < 0.001) and were less likely to understand the diagnosis and recommended treatments (P < 0.001). Physicians also reported feeling less comfortable with deaf patients (P < 0.001) and that they asked fewer questions (P < 0.001). Physicians were more likely to say that deaf patients rely on interpreters (P = 0.040), get frustrated easily (P < 0.001), and are harder to communicate with (P < 0.001). There were no significant differences between the two groups in knowledge about deaf people. All physicians, however, displayed ignorance about their legal obligations under the Americans with Disabilities Act to provide interpreters for their deaf patients. Conclusions: Physicians surveyed about deaf patients reported significantly greater difficulties communicating with and different attitudes toward these patients than physicians surveyed about their patients in general. All physicians were unaware of their obligations under the Americans with Disabilities Act to provide interpreters for deaf patients. Research is needed to determine whether physician attitudes and beliefs affect the actual quality of care they deliver to deaf patients.
A 2-dimensional model of polynomial type for oscillatory ATM-Wipl dynamics in p53 network

Under gamma irradiation, p53 gene regulatory network is able to exhibit three different modes, namely low state, oscillations, and high state. There are experimental studies demonstrating that oscillatory behaviour of p53 is due to the interaction between upstream mediator of p53, i.e. ATM, and a negative feedback loop formed by Wipl with that upstream. By proposing a canonical model based on ordinary differential equations made up of polynomial type birth and death terms, we show mathematically that the simple interaction between ATM and Wipl is indeed able to exhibit three different behaviours relevant to DNA damage response of p53 network. We further carry out bifurcation analysis on the model with the aim of investigating the mutations such as Wip1 overexpression and ATM deficiency. Based on the proposed canonical model, we show that Wipl is an important target for curing these types of mutations.
The neutrophil as a cellular source of chemokines

Neutrophils are known to play an important role in inflammatory responses by virtue of their ability to perform a series of effector functions that collectively represent a major mechanism of innate immunity against injury and infection. In recent years, however, it has become obvious that the contribution of neutrophils to host defence and natural immunity extends well beyond their traditional role as professional phagocytes. Indeed, neutrophils can be induced to express a number of genes whose products lie at the core of inflammatory and immune responses. These include not only Fc receptors, complement components, cationic antimicrobial and NADPH oxidase proteins, but also a variety of cytokines (including tumour necrosis factor-alpha, interleukin (IL)-1beta, IL-1R alpha, IL-12 and vascular endothelial growth factor), and chemokines such as IL-8, growth-related gene product, macrophage inflammatory protein (MIP)-1alpha, MIP-1beta, interferon-gamma-inducible protein of 10 kDa and monokine induced by interferon-gamma. Because these chemokines are primarily chemotactic for neutrophils, monocytes, immature dendritic cells and T-lymphocyte subsets, a potential role for neutrophils in orchestrating the sequential recruitment of distinct leukocyte types to the inflamed tissue is likely to occur. The purpose of this review is to summarize the essential features of the production of chemokines by polymorphonuclear neutrophil leukocytes and the contribution that we have made to characterize some aspects of this newly discovered crucial function of neutrophils.
Parity among atopic and non‐atopic mothers

A temporary Th2 skewed immunity is essential for a successful outcome of pregnancy. It is also a hallmark of atopic disease. We recorded the number of siblings to 3667 children in relation to maternal atopy. In all, 65% of the allergic and 56% of the non‐allergic mothers had more than one child (p < 0.001). These data support a hypothesis that the atopic genotype may be associated with an increased likelihood for a successful outcome of pregnancy and thus from an evolutionary point of view compensate for the less efficient host defence against microbial infections associated with this type of immunity.
Ethanol Embolization of Auricular Arteriovenous Malformations: Preliminary Results of 17 Cases

BACKGROUND AND PURPOSE: Because of the relatively rare and extremely varied clinical presentations, arteriovenous malformations (AVMs) involving the auriculae are technically challenging clinical entities to diagnose and, ultimately, manage. The purpose of our study was to present our initial experience of ethanol embolization in a series of 17 patients with auricular AVMs and assess the interim therapeutic outcomes of this method. MATERIALS AND METHODS: Our study group consisted of 17 patients. Transcatheter arterial embolization and/or direct percutaneous puncture embolization were performed. Pure or diluted ethanol was manually injected. Follow-up evaluation was obtained on the basis of physical examination and angiography at 3- to 4-month intervals and telephone questionnaire at 1-month intervals in all patients. RESULTS: During the 29 ethanol embolization procedures, the amount of ethanol used ranged from 4 to 65 mL. The obliteration of ulceration, hemorrhage, pain, infection, pulsation, and bruit in most of the patients was obtained. The reduction of redness, swelling, and warmth was achieved in all of the patients, and 15 of the patients achieved downstaging of the Schobinger status. According to the angiographic findings, AVMs were devascularized 100% in 3 patients, 76% to 99% in 5 patients, 50% to 75% in 6 patients, and less than 50% in 3 patients. The most common complications were reversible necrosis and blister. CONCLUSIONS: Ethanol embolization has proved efficacious and safe in the treatment of auricular AVMs and has the potential to be accepted as the primary mode of therapy in the management of these lesions.
The quantity theory of money : from Locke to Keynes and Friedman

Contents: Introduction (Mark Blaug) 1. John Locke, the Quantity Theory of Money and the Establishment of a Sound Currency (Walter Eltis) 2. Why is the Quantity Theory of Money the Oldest Surviving Theory in Economics? (Mark Blaug) 3. Long - Run Equilibrium andCyclical Disturbances - The Currency and Banking Controversy Over Monetary Control (Denis O'Brien) 4. J.M. Keynes and the Quantity Theory of Money (Robert Skidelsky) 5. The Quantity Theory in the 1980s: Hume, Thornton, Friedman and the Relation Between Money and Inflation (Geoffrey E. Wood) 6. Concluding Comments on the Quantity Theory (Don Patinkin) Index
LIBOR Market Model with Stochastic Basis

The post-credit crunch period has been characterized by non-negligible basis spreads between various rates that previously used to closely track each other. This has resulted into a shift from the singlecurve pricing paradigm to the multi-curve setting, where practitioners construct as many forward curves as available tenors. Consequently, financial modellers have tried to capture these new market trends by developing extensions to the classical LIBOR Market Model. This research provides an in-depth exposition of some of these extensions. The classical LIBOR Market Model is first presented, followed by the discussion of the modelling of the joint evolution of OIS forward rates and given-tenor FRA rates, developed by Mercurio (2009). The LIBOR Market Model with stochastic basis, introduced by Mercurio (2010b), is then motivated and discussed, completing the threading of past results into the present ones. An approach that highlights the central importance of the concept of change of numeraire is introduced, and used to obtain the corresponding prices under the different models, without putting a lot of emphasis on the stochastic volatility aspects. A bootstrapping example is also provided to highlight some of the considerations undertaken by practitioners in the construction of various forward curves.
Testing for Purchasing Power Parity: Econometric Issues and an Application to Developing Countries

There is now a vast literature on testing purchasing power parity (PPP). Any test is conditional on a particular econometric specification that embodies a set of auxiliary assumptions. This paper reviews the issues involved in econometric specification and estimation in the time series and panel models used to test PPP. The others start from a general model and then systematically examine the implicit restrictions that are imposed to obtain the standard procedures and discuss the implications of these procedures for estimation and inference. The issues are illustrated on data for a panel of thirty-one developing countries, 1966-90. Copyright 1999 by Blackwell Publishers Ltd and The Victoria University of Manchester
Exploring the influence of regulation on the innovation process

The influence of regulation on the innovation process in the financial services industry is at present an area that is understudied. The Grand-Duchy of Luxembourg provides an interesting case study because it was the first to quickly and effectively transpose a major EU directive for financial services, namely the Undertakings for Collective Investment in Transferable Securities (UCITS) directive. Additionally, no prior study was done on the mechanisms which facilitated a faster innovation process in Luxembourg's financial services industry. The interplay between the government, professional associations and private actors was studied. A positive influence of this interplay on the implementation of the UCITS directive was found, offering a better understanding of the mechanism of externally induced innovation. The obtained results provide interesting new venues of research and indicate the importance of reputation and the existing mechanisms of relational embeddedness to enhance the innovation process in Luxembourg's financial services industry.