Miracle-dz/UniFAR-FTUs huggingface dataset:
Media coverage and accounting conservatism

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Cabinets, Ministers, and Gender

Cabinets, Ministers, and Gender explores why men have been more likely than women to be appointed to cabinet, why gendered patterns of appointment vary cross-nationally, and why, over time, women’s inclusion in cabinets has grown significantly. The book is innovative in conceiving of cabinet formation as a gendered process governed by rules that empower and constrain presidents and prime ministers as selectors of cabinet ministers, and rules that prescribe, prohibit, and permit a range of criteria (experiential, affiliational, and representational) that qualify individuals for inclusion in cabinet. Focusing on seven country cases (Australia, Canada, Chile, Germany, Spain, the United Kingdom, and the United States) using three data sets—elite interviews, media data, and autobiographies—the book reveals the complex sets of rules governing cabinet formation in each country and demonstrates their gendered effects. The book shows how different types of rules empower and constrain selectors, and how these rules interact to create different opportunities and obstacles for women’s cabinet inclusion. The findings demonstrate how institutional change emerges from a complex iterative process through which political actors interpret and exploit ambiguity in rules to deviate from past practices of appointing mostly male cabinets. These selectors help to develop new rules about women’s inclusion, which constrain future leaders in assembling their cabinet. The authors coin the term “concrete floor” to capture the process by which minimum levels for women’s cabinet inclusion are established and become locked in over time, explaining how competing rules for cabinet appointments, changing norms, and women’s mobilization in political parties shape outcomes.
Fiscal Stimulus on Bayesian DSGE Models

I take a Bayesian approach to estimate and forecast the effects of fiscal stimulus in various versions of the model by Smets and Wouters (2007) for the US economy. Specifically, I proxy various simpler DSGE sub-models by imposing a tight prior on a single parameter or a combination of tight priors on multiple parameters in the Smets-Wouters model. I find that the present-value government spending multipliers obtained are all in a reasonable range. Moreover, I forecast the effect of fiscal stimulus in a scenario similar to the 2008/2009 recession in the US, where the public expects a large and temporary increase in government spending to stimulate a fragile economy. The forecasts, generated individually by a group of representative models, are weighted averaging by means of the posterior model probabilities that are computed on the basis of their corresponding marginal data densities. According to the Diebold-Mariano test, I find that the forecast error of the combination forecast, computed via Bayesian model averaging (BMA), is statistically larger than the individual forecast, obtained only from the one that has the best fit among those DSGE models.
Domestic and Foreign Investor Dynamics in Indonesian Stock Exchange : Evidence from 10 Years High-Frequency Data

This study analyses price impact, herding behaviour, and feedback trading of domestic and foreign investors in Indonesia Stock Exchange (IDX) by employing vector autoregressive models using high-frequency transaction data in the period of 2008 – 2017. We find that domestic investors impact return negatively whereas foreign investors have no impact to return. In terms of herding behavior, domestic and foreign investors herd to themselves strongly. Domestic investors reverse-herd to foreign investors in the short-term (1 day) but no consistent pattern in the opposite direction. Regarding feedback trading, both domestic and foreign investors are contrarian in the big and medium cap portfolios but employ momentum strategy in the small cap portfolio. We also find that, in the crisis period, price impact is more pronounced in terms of economic and statistical significance. On the other hand, evidence of herding behavior and feedback trading decreases in market downturns, although with the same patterns overall.
Remittances and economic growth : Empirical evidence from South Africa

In this paper, we have empirically examined the impact of remittances on economic growth in South Africa over the period from 1970-2017. The study was motivated by the conflicting empirical findings that have emerged in the literature on the impact of remittance on economic growth in various countries. The study was also motivated by the need to find an empirical backing on the assertion that remittances are good for economic growth and can play a key role in lowering the inequality levels in developing countries. Using the autoregressive distributed lag (ARDL) bounds testing approach, the empirical results, contrary to expectations, have revealed that in South Africa, remittances have a negative impact on economic growth, irrespective of whether the regression analysis is conducted in the long run, or in the short run. The study, therefore, cautions policy makers when it comes to policies related to harnessing remittances for economic growth. The study argues that it is not only remittance inflows that matter, but also how the remittances are utilised to influence economic growth.
COLLECTION MANAGEMENT PRACTICES AND USE OF LAW LIBRARIES BY UNDERGRADUATE STUDENTS OF SELECTED UNIVERSITIES IN NIGERIA

This paper examines the collection management practices and use of law libraries by undergraduate students of selected universities in Nigeria. The study adopted descriptive survey research design. A systematic sampling technique was adopted to facilitate the selection of every 10th members of the total population in each of the universities studied; questionnaire was used to collect data for the study while the data collected were analyzed using descriptive and inferential statistics. Research questions were answered using percentage and mean, Pearson Product Moment Correlation analysis was used to test the hypothesis. The result of the study shows that law lectures have input in selection of library materials and that the law librarian usually conduct frequent evaluation of law collections to ensure their currency. It revealed that undergraduate law students visit law libraries to consult, read and utilize information materials available in law libraries. The result further revealed that there is significant relationship between collection management practices and use of law library information resources by law students in Nigerian universities. The study recommends that law librarians should carry out thorough analysis of user needs and also carry students and others members of law faculties along in collection building to guarantee effective utilization of law libraries.
Analysis of Agricultural Commodities Prices with New Bayesian Model Combination Schemes

In the described research three agricultural commodities (i.e., wheat, corn and soybean) spot prices were analyzed. In particular, one-month ahead forecasts were built with techniques like dynamic model averaging (DMA), the median probability model and Bayesian model averaging. The common features of these methods are time-varying parameters approach toward estimation of regression coefficients and dealing with model uncertainty. In other words, starting with multiple potentially important explanatory variables, various component linear regression models can be constructed. Then, from these models an averaged forecast can be constructed. Moreover, the mentioned techniques can be easily modified from model averaging into a model selection approach. Considering as benchmark models, time-varying parameters regression with all considered potential price drivers, historical average, ARIMA (Auto-Regressive Integrated Moving Average) and the naïve forecast models, the Diebold–Mariano test suggested that DMA is an interesting alternative model, if forecast accuracy is the aim. Secondly, the interpretation of time-varying weights ascribed to component models containing a given variable suggested that economic development of emerging BRIC economies (Brazil, Russia, India and China) is recently one of the most important drivers of agricultural commodities prices. The analysis was made on the monthly data between 1976 and 2016. The initial price drivers were various fundamental, macroeconomic and financial factors.
World of learning: Canadian post-secondary students and the study abroad experience

The study’s purpose is to develop a snapshot of the experience of Canadian post-secondary students’ access to and success with study abroad programs offered, for credit or not for credit, by colleges and universities. The research raises social equity questions, the findings of which offer federal and provincial government ministers and education leaders an informed basis for preparing post-secondary students to live and work in a global society and for making this a reality for many more, and more diverse, students.
The Extended Fama-French Three Factor Model : Revisited

This paper is aimed to validate the four-factor asset pricing model as an improvement towards the standard Fama-French three-factor model. Using U.S. monthly stock returns data from period January 1963 to December 2010 , we construct 25 portfolios and t he four-factor model includes the market factor (beta), the size factor (SMB), the book-to-market factor (HML), and the ‘momentum' factor (MOM). Similar time series method as in Fama and French (1993) are employed to elaborate the three-factor model and the four-factor model regression. Our findings show that the four-factor model to some extent has significant capability in explaining the variations in average excess stock returns. Although the R 2 extracted from the four-factor model is just slightly higher than the three-factor model, yet it provides suggestive for the robustness of the four-factor model. In addition , our robustness test shows that January seasonal effect is absorbed by the risk factors including the market factors, SMB, HML, and MOM factor. The consistency of the four-factor model in explaining the U.S stock market return variations for the newest data, provide relevance to apply this model in emerging markets data in order to give guidance for investor in understanding the market condition.
Relationship Between Migration and Unemployment: Panel Data Analysis for Selected OECD Countries

In this study, impacts of migration on labor market are studied. As changes experienced in the labor market of migration receiving and sending countries impact unemployment figures directly, the study is based on the determining the relationship between migration and unemployment. Literature investigating the relationship between migration and unemployment mainly focuses on the impacts of migration on labor markets. There is no generally accepted opinion on the direction and degree of impact of internal migration and international migration on unemployment. While some of the studies argue that migration has negative impact on unemployment, some argue just the opposite and even some express that there is no significant relationship between migration and unemployment. We investigate this direction and size of the relationship between migration and unemployment in 23 selected OECD countries.
Input-Output DSGE Model for the Czech Republic

This study questions the importance of accounting for sectoral heterogeneity in a DSGE model for the Czech Republic. The benchmark DSGE model originally developed by the Czech Ministry of Finance benefits from features such as wage and price stickiness, habit formation in the utility function and capital adjustment costs. The Input-Output DSGE model extended hereby proves to provide more precise estimates for the evolution of aggregate variables and to supply a more detailed structure of the economy. The set of variables the dynamics of which significantly improve consists of inflation rate and nominal interest rate. The disaggregated model also fits data well in terms of sectoral production functions. Finally, the absence of industrial heterogeneity in the model is shown to lead to an underestimation of the impact of the technology shock on the Czech gross domestic product.
Knowledge searching strategies, testing for complementarities on the innovation behavior of the firm

According to two basic building blocks of neo-Schumpeterian economics, firms innovation process shows idiosyncratic features related to their specific characteristics of the firm and of the environment where it acts. Moreover, firms innovation is recognized as an interactive process. Hence, due to systemic functioning, it is expected that the effect of two simultaneous external linkages will be different from the sum of their isolated effects. However, the external search for knowledge and information sources (KISs) may present constraints related to the searching costs and the cognitive distance between the firm and the KISs. This paper aims to contribute empirical evidence to revisit these theoretical building blocks by analyzing the search strategies conducted by firms. We identify three types of external KISs and analyze the effects of eight search strategies (KIS combinations) on firms innovation behavior. In addition, we test the complementarity or substitution effects of the simultaneous use of different KISs on the innovation behavior – effort and performance – of Uruguayan firms. We identify the specific effect of different KIS combinations but find no evidence of a linear relation between search scope and innovation behavior. Moreover, we find evidence of complementary effects between relatively closer and more distant KISs and substitution effects between relatively near KISs.
The Risk of Implicit Guarantees: Evidence from Shadow Banks in China

We study how risks spill over from shadow banking activities to traditional banks through implicit guarantees. Using data on wealth management products, China's largest shadow banking component, we find that banks with higher interbank borrowing rates strategically provide stronger implicit guarantees to their issued wealth management products. Extending implicit guarantees builds bank reputations and reduces rollover costs while exposing banks to losses from shadow banking activities. Our findings thus suggest a bank-specific approach to assessing the risk of implicit guarantees based on transparent and real-time interbank rates.
Estimating the relationship between GDP growth and government expenditure in Libya : an analysis of Wagner's Law

The relationship between government expenditure and gross domestic product (GDP) has been subject to extensive research both in the field of public finance and macroeconomic modelling. More than one hundred years ago Adolph Wagner proposed a positive correlation between the level of gross domestic product growth and public spending. In this study six versions of Wagner's law were empirically tested employing aggregate and disaggregated annual time series data for the Libyan economy covering the period 1962-2005. This thesis investigated the relationship between government expenditure and gross domestic product growth, in terms of total GDP and non-oil GDP. Engle and Granger's two-step cointegration analysis has been used to test the long-run relationship between government expenditure and total real GDP for Libya, whereas the short-run relationship is estimated using the error correction model (ECM). The causation between government expenditure and GDP growth is examined using the Granger causality test. It was found that public expenditure and GDP variables in all six versions of Wagner's law are non-stationary in levels, but stationary in first differences, that is, they are integrated of order one 1(1), in terms of total GDP and non-oil GDP and the six categories also. The cointegration tests indicated that there is mixed evidence of a long-run relationship between government expenditure and gross domestic product in terms of total GDP and non-oil GDP using aggregate data. Furthermore, a long-run equilibrium relationship with disaggregate data is also established. The results suggest mixed evidence in support of Wagner’s law for the period under review. The results from the ECM equations reconfirmed the validity of Wagner’s law in the short-run for total real GDP and government expenditure, as well as the short-run relationship with disaggregate data. Also, the results indicate that the short-run relationship between government spending and total real non-oil GDP does not exist for the period under review, with the exceptions of versions two and three where dummies were used Finally, the study used Granger causality testing procedure to determine the direction of causality. The results provide some evidence of a unidirectional causation running from gross domestic product to government expenditure in total real GDP, and mixed results with total real non-oil GDP. Also, this study has made contribution to knowledge. Specifically, it fills the gap in the public finance area of Libyan growth studies by testing Wagner's law on the Libyan economy. Also, this study has used the long-run and short-run relationship between government expenditure and total gross domestic product with GDP and non-oil GDP, as well as undertaking a causality analysis between the relevant variables.
Examining the Volatility of Ireland’s Tax Base in the Paradigm of Modern Portfolio Theory

This paper extends a theoretical and empirical framework commonly applied in international finance to present an alternative paradigm within which issues of tax revenue volatility in Ireland can be studied. We establish a trade-off between revenue growth and volatility, typically associated with financial asset returns. We observe strong but time-varying cointegration among tax revenue streams. Statistical tests of mean-variance spanning suggest diversification benefits from holding Income Tax and Excise Duty. We establish the minimum variance tax portfolio, and also find that, from a meanvariance optimality perspective, the portfolio consisting of 2017 tax shares is sub-optimal. Practical policy implications are discussed.
The Role of Renewables in a Low-Carbon Society: Evidence from a Multivariate Panel Data Analysis at the EU Level

Low carbon emission has a major positive impact on our society. Due to the importance of reducing carbon emission levels, factors that contribute significantly towards reducing carbon emission levels have attracted the interest of academics and researchers in the field. In this paper, the author develops a multiple linear regression analysis to examine the relationship between renewable energy consumption, biofuel production, resources productivity, bioenergy productivity, the level of urbanization and population and their impact on total carbon dioxide (CO2) emissions. Data was collected from the European Statistical Office (EUROSTAT) and four statistical hypotheses were validated through a regression model with panel data using the statistical software EViews 11. The study was conducted for 27 European Union (EU) countries during 2008 to 2017. The author’s findings indicate that renewables have a direct and positive influence on the levels of CO2 emissions, as opposed to population growth and urbanization. These findings suggest that public policy should be directed towards increasing the use of renewables in EU countries, while the level of urbanization and the population growth add more restrictions in the modelling equation of the impact on CO2 emissions.
Archetype analysis in sustainability research: methodological portfolio and analytical frontiers

In sustainability research, archetype analysis reveals patterns of factors and processes that repeatedly shape social-ecological systems. These patterns help improve our understanding of global concerns, including vulnerability, land management, food security, and governance. During the last decade, the portfolio of methods used to investigate archetypes has been growing rapidly. However, these methods differ widely in their epistemological and normative underpinnings, data requirements, and suitability to address particular research purposes. Therefore, guidance is needed for systematically choosing methods in archetype analysis. We synthesize strengths and weaknesses of key methods used to identify archetypes. Demonstrating that there is no “one-size-fits-all” approach, we discuss advantages and shortcomings of a range of methods for archetype analysis in sustainability research along gradients that capture the treatment of causality, normativity, spatial variations, and temporal dynamics. Based on this discussion, we highlight seven analytical frontiers that bear particular potential for tackling methodological limitations. As a milestone in archetype analysis, our synthesis supports researchers in reflecting on methodological implications, including opportunities and limitations related to causality, normativity, space, and time considerations in view of specific purposes and research questions. This enables innovative research designs in future archetype analysis, thereby contributing to the advancement of sustainability research and decision-making.
Institutional Responses to Aging Populations and Economic Growth: A Panel Data Approach

Will an aging population lower economic growth? Economists are generally concerned that the increase in life expectancy could lower economic growth, however, theory does not make a prediction. As life expectancy increases, so should household savings, which results in more physical capital per worker. This will stimulate economic growth. However, as the retired population share increases, this may reduce spending on children as more resources are transferred to the elderly. This will likely reduce human capital accumulation and lower growth. The net effect of these competing influences is an empirical question. This paper constructs a stylized endogenous growth model that includes both human capital and government transfers to the elderly. The model is mapped into a linear statistical framework that allows us to estimate each of these potential responses using panel data for a set of OECD countries during the period 1975-2014. We find evidence that households do in fact increase savings in response to a longer retirement period and this effect is associated with a higher realized rate of growth per worker. However, we also find evidence that an aging population reduces spending on children (or other productive investments) placing a drag on growth. These results suggest it is the institutional response to population aging that will determine whether or not an aging population will place a drag on future growth, not population aging itself.