Miracle-dz/UniFAR-FTUs huggingface dataset:
Searching for Leviathan: An Empirical Study

In several papers and a recent book, Geoffrey Brennan and James Buchanan (1977, 1978, 1980) have put forth a striking and controversial view of the public sector. Drawing by analogy on the conventional theory of monopoly in the private sector, they envision a monolithic government that systematically seeks to exploit its citizenry through the maximization of the tax revenues that it extracts from the economy. From this perspective, they develop a fiscal constitution whose central purpose is to constrain "Leviathan" by limiting in various ways its access to tax and other fiscal instruments. While the Leviathan hypothesis has been the source of lively debate and a wide range of policy proposals, it has not been the subject of much systematic empirical work or testing. ' This is a matter of some importance since the policy implications of the Leviathan view are disturbing, to put it mildly. In particular, Brennan and Buchanan virtually stand on their heads many of the basic theorems in public finance for an efficient and equitable tax system. If, in fact, the Leviathan view is an inaccurate depiction of the functioning of the public sector, the introduction of their policy proposals is likely to make a sorry mess of the fiscal system. The Leviathan model does, however, have some straightforward implications for observable fiscal behavior. It is the purpose of this paper to examine one of these testable implications. Brennan and Buchanan stress that fiscal decentralization is itself a powerful constraint on Leviathan: competition among governments in the context of the "interjurisdictional mobility of persons in pursuit of 'fiscal gains' can offer partial or possibly complete substitutes for explicit fiscal constraints on the taxing power" (1980, p. 184). Such competition among governments in a federal system that places heavy reliance on " local" fiscal decisions will greatly limit the capacity of Leviathan to channel resources into the public sector. In short, as indicated by the epigraph to this paper, the Leviathan model implies that, other things equal, the size of the public sector should vary inversely with the extent of fiscal decentralization.2
The Effect of Insider Control and Global Benchmarks on Chinese Executive Compensation

Manuscript Type: Empirical Research Question/Issue: We investigate the effect of insider control from the managerial power perspective and the global pay benchmarks from the behavioral approach on Chinese executive compensation. Research Findings: Based on a balanced panel sample of 502 Chinese listed firms between 2001 and 2006, we find that both CEO duality and CEO ownership exert significant influence on Chinese executive compensation contracting and they contribute to the high level of executive compensation. We support the managerial power hypothesis by arguing that CEO duality and CEO shareholding tend to entrench insider managers further to collude with government officials and extract a firm's assets. Shareholdings appear to actively restrain managers from serving their self-interests as to their pay levels, including on the board independence and the supervisory board levels. However, private institutional shareholdings perform actively in restraining managerial influence on the executive pay setting. There is an upward increase in the executive pay levels due to the global pay benchmark effects introduced by foreign investment. The compensation committees' decisions on executive pay levels are largely influenced by the global peer group's pay levels, rather than linking to firm performance as predicted by the optimal contracting model. Theoretical Implications: We extend the optimal contracting model by incorporating the managerial power hypothesis to demonstrate how insider control affects the Chinese executive pay setting. We also add a behavioral approach to reflect how the global pay benchmarks affect the Chinese executive compensation setting via the negotiation between a firm's compensation committee and its managers. Practitioner/Policy Implications: The Chinese government should consider exerting rigorous restrictions on executive shareholding and management buy-out as an incentive for managers. In addition, the Chinese Code of Corporate Governance should explicitly restrict CEO duality. The government should be aware of the potential influence of behavioral bias in human decisions departing from rational economical criteria, and set policies to balance the benefits of introduction of foreign investment against the costs of resultant excessive executive compensation, and the benefits of setting a compensation committee as a corporate governance control device against the costs of the compensation committees working with the executives together to increase the executive pay level.
Uneven growth between interdependent economies : an evolutionary view on technology gaps, trade and growth

Preface. Part One. Theory and empirics of international growth rate differentials and technology gaps. Chapter 1. Technology, growth and welfare: a historical perspective. 1.1. The search for welfare and the role of technology. 1.2. Aim of the book. 1.3. Organisation of the rest of the book. Notes. Chapter 2. The literature on economic growth and technological change. 2.1. A brief overview. 2.2. The traditional literature on economic growth. 2.3. New neoclassical growth models: endogenous innovation. 2.4. The role of technological change. 2.5. Explaining growth rate differentials. Notes. Chapter 3. An evolutionary theory of economic growth and technological change: the basics. 3.1. Economic growth as an evolutionary process: a macroeconomic interpretation. 3.2. Economic growth as an evolutionary process: a microeconomic interpretation. 3.3. Towards an evolutionary theory. Notes. Chapter 4. Technology and growth in an international perspective, 1960-1990: an impressionistic approach. 4.1. Economic growth and structural change. 4.2. Technology. 4.3. Technology and growth: catching up or falling behind? A global issue. 4.4. Summary and conclusions. Appendix IV.1. Postwar economic welfare and the selection of country samples. Appendix IV.2. The 3-digit ISIC sector classification (revision 2). Appendix IV.3. On measuring and graphing structural differences between countries. Appendix IV.4. Some tests for the influence of multicollinearity on the regressions in section 4.2. Notes. Part Two. Technology spillovers between interdependent economies: catching up or falling behind? Chapter 5. A model of catching up or falling behind. 5.1. Description of the model. 5.2. Solving the model. 5.3. The outcomes of the model under varying parameter restrictions. 5.4. Conclusions of the model. Notes. Chapter 6. An empirical test of the model. 6.1. Testing procedure and data sources. 6.2. Result. 6.3. Interpreting the results. 6.4. Summary and some policy conclusions. Appendix VI.l. A description of the data. Appendix VI.2. The calculation of the N-statistic. Notes. Part Three. Technological change, international trade and economic growth. Chapter 7. An evolutionary model of technological change, specialisation and economic growth. 7.1. A descriptive interpretation. 7.2. The model. 7.3. Simulation results. 7.4. Summary and conclusions. Appendix VII.1. Initial values of the simulation runs for the 3-country 2-sector case. Appendix VII.2. Some mathematical details of the selection equation in discrete time. Notes. Chapter 8. An empirical view on the evolution of trade and technology. 8.1. Patents as indicators of innovation. 8.2. Summarising some known correlations. 8.3. Trade and technology: a dynamic evolutionary framework. 8.4. Estimation of the replicator equation. 8.5. Some further tests on the robustness of the replicator estimates. 8.6. Explaining the results for the patent variables. 8.7. Summary and conclusions.
Is Beta Dead Again

Beta splits a security's return into a part that is perfectly correlated with a market portfolio and a residual that is uncorrelated with the market. Beta is used to analyze performance, control risk, make conditionalforecasts and set expected returns. It is primarily beta's role in the Capital Asset Pricing Model (CAPM), which says expected residual returns should be zero, that makes beta controversial.
Ventilator versus Manual Hyperinflation in Clearing Sputum in Ventilated Intensive Care Unit Patients

The aim of hyperinflation in the ventilated intensive care unit patient is to increase oxygenation, reverse lung collapse and clear sputum. The efficacy and consistency of manual hyperventilation is well supported in the literature, but there is limited published evidence supporting hyperventilation utilising a ventilator. Despite this, a recent survey established that almost 40% of Australian tertiary intensive care units utilise ventilator hyperinflation. The aim of this non-inferiority cross-over study was to determine whether ventilator hyperinflation was as effective as manual hyperinflation in clearing sputum from patients receiving mechanical ventilation using a prescriptive ventilator hyperinflation protocol. A total of 46 patients received two randomly ordered physiotherapy treatments on the same day by the same physiotherapist. The efficacy of the hyperinflation modes was measured by sputum wet weight. Secondary measures included compliance, tidal volume, airway pressure and PaO2/FiO2 ratio. There was no difference in wet weight of sputum cleared using ventilator hyperinflation or manual hyperinflation (mean 3.2 g, P=0.989). Further, no difference in compliance (P=0.823), tidal volume (P=0.219), heart rate (P=0.579), respiratory rate (P=0.929) or mean arterial pressure (P=0.593) was detected. A statistically significant difference was seen in mean airway pressure (P=0.002) between techniques. The effect of techniques on the PaO2/FiO2 response ratio was dependent on time (interaction P=0.024). Physiotherapy using ventilator hyperinflation cleared a comparable amount of sputum and was as safe as manual hyperinflation. This research describes a ventilator hyperinflation protocol that will serve as a platform for continued discussion, research and development of its application in ventilated patients.
Public Debt and Public Investment in an Endogenous Growth Model with Real Wage Rigidities

We present an endogenous growth model with public capital, public debt and real wage rigidities due to labor market imperfections. Assuming that the primary surplus relative to gross domestic produce (GDP) is a positive function of the debt to GDP ratio, we study growth and employment effects of deficit-financed public investment using simulations as well as how fiscal policy affects stability of the economy. Further, we contrast the growth rate and the unemployment rate in the deficit scenario with that of the balanced budget scenario. Finally, we compare our results with those obtained in case of flexible wages and full employment.
A Test of the Weak–form of the Efficient Markets Hypothesis for the Saudi Stock Market

This article examines the weak–form of the efficient market hypothesis (EMH) for the Saudi Stock Market. Specifically, it considers whether patterns are present in share returns such that investors can out–perform the market by trading on the basis of historic information. Two different trading strategies are tested on weekly data for 45 companies spanning the period 1990 to 2000. The results suggest that while there is some evidence of predictability in share returns, support for EMH is stronger than in previous studies. This improved efficiency of the Saudi Stock Market may be attributed to technological and regulatory developments introduced by the Saudi government.
Profitability Analysis of a Beef Production on WW-B. Dahl (Bothriochloa bladhii) Pasture under Different Combination of Irrigation and Supplement Feeding

A benefit-cost analysis was performed on a stocker cattle operation on WW-B. Dahl [Bothriochloa bladhii (Retz) S.T. Blake] pastures under six combinations of irrigation and supplement. Beef production cost and net revenue in LI-S (low irrigation-supplement feeding), LI-NS (low irrigation-no supplement), HI-S (high irrigation-supplement feeding), HI-NS (high irrigation-no supplement), NI-S (no irrigation-supplement feeding), and NI-NS (no irrigation-no supplement) production scenarios were estimated. In the summers of 2003 and 2004 the cost of production considered in this research included expenditures on electricity, fertilizer, irrigation equipment maintenance, labor, feed, interest on steer investment, veterinary supplies, and minerals. Steer buying and selling prices used to estimate revenues were the average U.S. weekly steer prices reported for the Texas Panhandle region. Beef production cost was lower in the NI-NS scenario in both years and net revenue over operating cost was higher in the NI-NS scenario in 2003 ($124/acre) and the NI-S scenario in 2004 ($90/acre). These data suggest that incorporation of WW-B. Dahl into the forage/beef production systems of the Texas High Plains may provide a feasible economic option under non-irrigated conditions.
Activity of simian DNA-binding factors is altered in the presence of simian virus 40 (SV40) early proteins: characterization of factors binding to elements involved in activation of the SV40 late promoter

The early proteins of simian virus 40 (SV40) large T and small t antigen (T/t antigen) can each cause the transcriptional activation of a variety of cellular and viral promoters. We showed previously that simian cellular DNA-binding factors (the Band A factors) bind to sequences within the SV40 late promoter which are important for transcriptional activation in the presence of the SV40 early proteins. Band A factors isolated from simian cells which produce T/t antigen (COS cells or SV40-infected CV-1 cells) have altered binding properties in comparison with the factors from normal simian cells (CV-1). This suggests that the transcriptional activation mediated by T/t antigen may be due to either modification of existing factors or induction of new members of a family of factors. We have purified the Band A factors from both COS and CV-1 cells and have determined the binding site by methylation interference and DNase protection footprinting. The COS cell factors have altered chromatographic properties on ion-exchange columns and have higher-molecular-weight forms than the CV-1 cell factors. Major forms of the CV-1 factors migrate between 20 and 24 kilodaltons, while the COS factors migrate between 20 and 28 kilodaltons. The binding sites for the factors from CV-1 and COS cells are similar, covering a rather broad region within the 72-base-pair repeat comprising the AP-1 site and the two-octamer binding protein (OBP100/Oct 1) sites, OBP I and OBP II. Specific binding competition analyses indicate that the two general regions within the binding site (the AP-1-OBP II site and the OBP I site) each retain partial binding ability; however, the factors bind best when the two regions are adjacent in a relatively specific spatial arrangement. The binding site for the Band A factors corresponds very well to sequences necessary for the activation of the late promoter as defined by deletion and base substitution mutagenesis studies (J. M. Keller and J. C. Alwine, Mol. Cell. Biol. 5:1859-1869, 1985; E. May, F. Omilli, M. Emoult-Lange, M. Zenke, and P. Chambon, Nucleic Acids Res. 15:2445-2461, 1987). These data, in combination with the data showing that the Band A factors are modified or induced in the presence of T/t antigen, strongly suggest that T/t antigen mediates its transcriptional activation function, at least in part, through the Band A factors.
Recycling and waste minimisation behaviours of the transient student population in Oxford: results of an on-line survey

Due to growing pressure to meet recycling targets set by the UK central government, it is becoming increasingly important for local authorities to understand the characteristics of recycling behaviour and the factors that influence them. The demographic, situational and psychological factors that influence recycling behaviour were drawn from existing empirical research studies and used to create an on-line survey of university students in Oxford. Students' recycling behaviour was influenced by situational variables such as provision of a domestic recycling box and the recycling behaviour of family and friends, whereas the student's reported willingness to minimise waste was linked to psychological variables such as environmental concern. These fundamental differences in the behavioural characteristics of waste minimisation, compared with recycling, demonstrate the importance for local authorities to identify which types of behaviour they wish to encourage. The authors recommend strategies for local authorities to facilitate waste minimisation and increase recycling.
The finance-growth nexus in Sub-Saharan Africa: Panel cointegration and causality tests

This paper examines the causal relationship between financial development and economic growth using data for 17 countries in Sub-Saharan Africa. The analysis is conducted using panel cointegration and causality tests which take account of heterogeneity between countries which arises as a result of different country intercepts and varying regression coefficients slopes across countries. The results show that there is homogenous bi‐directional causality between financial development and economic growth. This result is robust to alternative measures of financial development and implies that for these Sub‐Saharan African countries, both the real and financial sectors are complementary to each other and their simultaneous development should be encouraged. Copyright (C) 2010 John Wiley & Sons, Ltd.
An efficiency wage - imperfect information model of the aggregate supply curve

This study derives a reduced-form equation for the aggregate supply curve from a model in which firms pay efficiency wages and workers have imperfect information about average wages at other firms. If specific assumptions are made about workers’ expectations of average wages and about aggregate demand, the model predicts how the aggregate demand and supply curves shift and how output and prices adjust in response to demand shocks and supply shocks. The model also provides an alternative explanation for Lucas’ (1973) finding that the AS curve is steeper in countries with greater inflation variability.
Associations between XRCC1 and ERCC2 polymorphisms and DNA damage in peripheral blood lymphocyte among coke oven workers

A wide variety of base damages and single-strand breaks formed by reactive oxygen species during metabolic activation of polycyclic aromatic hydrocarbons (PAHs) have been recognized to be involved in PAH carcinogenesis. In this study, alkaline comet assay was used to detect the DNA damage in peripheral blood lymphocytes among 143 coke-oven workers and 50 non-coke-oven workers, and the effects of genetic polymorphisms of XRCC1 and ERCC2 genes on DNA damage were evaluated. The olive tail moment was significantly higher in coke-oven workers than in non-coke-oven workers (2.6, 95% CI=2.1–3.3 versus 1.0, 95% CI=0.8–1.2, p<0.01), and significant correlation between ln-transformed urinary 1-OHP and ln-transformed olive tail moment was found in total population (n=193, Pearson's r=0.393, p<0.001) and in coke-oven workers (n=143, Pearson's r=0.224, p=0.007). The olive tail moment was significantly higher in coke-oven workers with GA genotype of G27466A polymorphism of XRCC1 than those with GG genotype (4.6, 95% CI=2.5–8.7 versus 2.4, 95% CI=1.9–2.9, p<0.01 with adjustment for covariates). No significant associations between C26304T, G28152A and G36189A polymorphisms of XRCC1 and G23591A and A35931C polymorphisms of ERCC2 and olive tail moment were found in both groups. The study showed that the alkaline comet assay is a suitable biomarker in the detection of DNA damage among coke-oven workers and it suggested that the A allele of G27466A polymorphism of XRCC1 may be associated with decreased DNA repair capacity toward PAH-induced base damage and strand breaks.
ANALYSIS OF EFFECTIVENESS AND PARKING LEVY GAP IN MALANG REGENCY

In connection with the efforts to promote and explore the sources of local revenues, the governmentof Malang Regency has now been trying to increase the revenues. This effort is intendedto make the local government not to be dependent much on the central government.This study attempts to analyze the effectiveness the problems that exist in parking fees in orderto see the real potential and some suggestions for policies related to the increase of thelocal government income. It was conducted in Malang regency, which was chosen by meansof a purposive random sampling. It shows as the following. (1) The potential of Malang Regencyparking levy is totally up to Rp 1,618,939,100. It can be compared with the realizationof 2009 that was up to the figure of Rp 225,842,000, and therefore the effectiveness is13.95%; (2) The results of the SWOT analysis showed that the position of an increase of incomein parking levies and service market is in quadrant 2 (two), this means a dominance ona combination of factors both strengths and barriers. It is suggested that the government increaseof the effectiveness of withdrawal by doing some efforts as described in this study.
Exploring perceived service quality, perceived value, and repurchase intention in higher education using structural equation modelling

The present study proposed and tested a conceptual model incorporating perceived service quality, customer-perceived value, and repurchase intention in a higher-education context. The main purpose was to empirically investigate the relationships between these concepts; thus, three hypotheses were postulated. Empirical data were collected among undergraduate students in Bosnia and Herzegovina and Croatia. A total of 735 cases were used to assess the overall fit of the proposed model and to test hypotheses using covariance-based structural equation modelling. The results support the proposed conceptual model, showing that perceived service quality and customer-perceived value have a positive and significant influence on repurchase intention, as well as that perceived service quality has a positive and significant impact on customer-perceived value. Therefore, the study contributes to the existing literature reporting the findings on quality and value in an educational context, with evidence from South Eastern Europe. Implications of the results are discussed, and recommendations for future research are made.
Output gap and inflation in the EU

Output gaps for 11 EU countries, the US and Japan are constructed based on measures of potential output derived from a CES production function. This production function accommodates differences in substitution elasticities between countries. Indeed, the empirical evidence shows that real wage elasticities of labour demand differ widely across countries. The national output gaps constructed turn out to significantly explain future changes in inflation. Moreover, the analysis also reveals that an aggregate European output gap significantly precedes aggregate European inflation, as well as inflation in the individual EU countries. These findings imply that an aggregate European output gap may serve as an inflation indicator for the preparation of a single European monetary policy.
Are companies that implement TQM better learning organisations? An empirical study

A great deal has been written about the benefits of both the implementation of a TQM system and the development of organisational learning. Furthermore, some authors argue that there are important synergies between these two concepts. There is empirical literature based on case studies that confirms the complementary nature of TQM and organisational learning. However, there are no general statistical surveys that test these hypotheses in a rigorous way. In the present research, clear evidence that TQM promotes organisational learning within companies is provided. This hypothesis was tested using a wide sample of Spanish companies and structural equation modelling. The findings support the model.