Miracle-dz/UniFAR-FTUs huggingface dataset:
Do the Rich Save Too Much? How to Explain the Top Tail of the Wealth Distribution

The aim of this paper is to explain the wealth distribution in the US economy, in particular the high concentration of wealth at the very top end of the distribution. In the literature it was conjectured that rich households accumulate more wealth (given their income) than what can be explained by standard consumption/saving models. To address this issue, I develop a general equilibrium heterogenous agent model and confront it with data about the top income and wealth distribution. It turns out that an o-the-shelf model fails to explain some important characteristics of the data. Standard forms of altruistic bequest motives do not help either. I nd two elements that help to bring the model in line with the data. First, modelling the idiosyncratic return risk that rich household face from closely held businesses. Second, modelling a capitalist spirit motive, where capital provides utility services directly, not just through consumption, as was proposed by Carroll (1998).
Spillover Risks in REITs and other Asset Markets

Based on Diebold and Yilmaz’s (International Journal of Forecasting 28:57–66, 2012) methodology, we estimate three return spillover indices in a four-asset system comprising equity REIT (EREIT), mortgage REIT (MREIT), stock, and bond for the sample period from January 1972 to September 2014. We find that the total return spillover risks account for about one-third of the total return variance, on average, in the four-asset system. When we add commercial real estate (CRE) to the system, but for a shorter sample period from February 1998 to September 2014, we estimate an average total return spillover risk of 28.0 %. In an extended Fama-French’s five-factor CAPM framework, we find that the net return spillover risks have significant and negative effects on EREIT and MREIT returns, but positive effects on bond return. We infer that during the period of high oil price volatility from 1978 to 1986, bond market, as a net “receiver” of market risks, increased its risk premiums in response to high spillover risks from other market. However, in the post-subprime crisis period, large spillover risks from the stock market, which is a net “transmitter” of risks, decreased EREIT and MREIT returns. We also find that CRE return is not affected by spillover risks from other markets. Institutional investors should thus not neglect spillover risks when constructing asset allocation strategies that include assets other than CRE.
Elliptic and parabolic regularity for second‐ order divergence operators with mixed boundary conditions

We study second‐order equations and systems on non‐Lipschitz domains including mixed boundary conditions. The key result is interpolation for suitable function spaces. From this, elliptic and parabolic regularity results are deduced by means of Šneı̆berg's isomorphism theorem. Copyright © 2015 John Wiley & Sons, Ltd.
Impact of ocean acidification on Arctic phytoplankton blooms and dimethyl sulfide concentration under simulated ice-free and under-ice conditions

Abstract. In an experimental assessment of the potential impact of Arctic Ocean acidification on seasonal phytoplankton blooms and associated dimethyl sulfide (DMS) dynamics, we incubated water from Baffin Bay under conditions representing an acidified Arctic Ocean. Using two light regimes simulating under-ice or subsurface chlorophyll maxima (low light; low PAR and no UVB) and ice-free (high light; high PAR + UVA + UVB) conditions, water collected at 38 m was exposed over 9 days to 6 levels of decreasing pH from 8.1 to 7.2. A phytoplankton bloom dominated by the centric diatoms Chaetoceros spp. reaching up to 7.5 µg chlorophyll a L−1 took place in all experimental bags. Total dimethylsulfoniopropionate (DMSPT) and DMS concentrations reached 155 and 19 nmol L−1, respectively. The sharp increase in DMSPT and DMS concentrations coincided with the exhaustion of NO3− in most microcosms, suggesting that nutrient stress stimulated DMS(P) synthesis by the diatom community. Under both light regimes, chlorophyll a and DMS concentrations decreased linearly with increasing proton concentration at all pH levels tested. Concentrations of DMSPT also decreased but only under high light and over a smaller pH range (from 8.1 to 7.6). In contrast to nano-phytoplankton (2–20 µm), pico-phytoplankton ( ≤ 2 µm) was stimulated by the decreasing pH. We furthermore observed no significant difference between the two light regimes tested in term of chlorophyll a, phytoplankton abundance and taxonomy, and DMSP and DMS net concentrations. These results show that ocean acidification could significantly decrease the algal biomass and inhibit DMS production during the seasonal phytoplankton bloom in the Arctic, with possible consequences for the regional climate.
Acoustic and electromagnetic emissions related to stress-induced cracks

The mechanical behaviour of concrete and rocks samples loaded up to their failure is analyzed by Acoustic Emission (AE) and Electromagnetic Emission (EME). All specimens were tested in compression at a constant displacement rate and monitored by piezoelectric (PZT) transducers for AE data acquisition. Simultaneous investigation of magnetic activity was performed by a measuring device calibrated according to metrological requirements. In all the considered cases, the presence of AE events has been always observed during the damage process, whereas it is very interesting to note that the magnetic signals were generally observed only in correspondence of sharp stress drops or the final collapse.
Molecular characterization of COI gene of Ixodes ricinus (Linnaeus, 1758) from Serbia

The Ixodes ricinus tick is common in the central part of the Balkan Peninsula. It is a vector of pathogenic agents causing diseases in humans and animals. Little is known about the genetic structure of I. ricinus in this region. We have investigated intraspecific variability of the COI gene among I. ricinus ticks collected from different regions of Serbia, and the correlation between the various types of habitat and genetic variability of ticks. The obtained COI gene sequences are the first barcoding sequences of I. ricinus ticks collected at localities in Serbia. Intraspecific variability of these COI gene sequences was very low, and there was no correlation between the various types of habitat and genetic variability of ticks. Samples from isolated localities (canyon/gorge) showed no genetic differentiations from the majority of samples from open areas.
Classification and Detection of Various Geographical Features from Satellite Imagery

It is a challenging task to classify and detect various geographical features from the satellite imagery of the Earth as well as the celestial bodies. This paper puts forward several pixel based classification algorithms to classify geographical features from the satellite images of the Earth. The recorded experimental results, from a total of 606 satellite images to classify miscellaneous geographical features, demonstrate that the maximum algorithmic performances can approximate to 87%. This paper also addresses a simple algorithm based on edge approximation and circular Hough transformation to detect craters from the satellite imagery of celestial bodies. An online available dataset to detect craters evaluates the performance of the algorithm. In general, all the proposed algorithms are straightforward but in many ways effective.
Developing learners self-assessment accuracy

The purpose of this study is to empirically investigate the effects of training students taking CEFR-based self-assessment checklist of reading skills and strategies and reflecting to the reading proficiency benchmarks. The learners’ accuracy with selfassessment is investigated across an intensive period of training. There are two specific objectives for this study: 1) to investigate the accuracy of self assessment results, 2) to determine the optimal training period, The applied research design is quasi-experimental design . A class of Malaysian semester 7 TESL students, as a whole intact group attended a semester training period. They were tested for their current reading proficiency using the TOEFL reading test battery (paper and pencil version). Meanwhile, they attempted the CEFR-based self assessment checklist of reading skills three times across the training period. These two measures were used for the purpose of the statistical analyses. Repeated Measures Two-Way ANOVA was used to test the hypotheses. It was found out that the provided training has been effective as the student’s results were more accurate in the second and the third administrations of the self assessment compared to the first attempt (Effect Size, η = .185, p<.05). The Correlation Coefficients in the Correlation Matrix depicts that the third administration of the self assessment instrument is highly correlated with the external proficiency measure (TOEFL) (r = .88, p<.05). Therefore, as the result of training students’ reflections to self assessment of reading are more accurate and dependable as compared with the results of an established test of reading proficiency.
Hyperbolic Anderson Model with space-time homogeneous Gaussian noise

In this article, we study the stochastic wave equation in arbitrary spatial dimension $d$, with a multiplicative term of the form $\sigma(u)=u$, also known in the literature as the Hyperbolic Anderson Model. This equation is perturbed by a general Gaussian noise, which is homogeneous in both space and time. We prove the existence and uniqueness of a solution of this equation (in the Skorohod sense) and the H\"older continuity of its sample paths, under the same respective conditions on the spatial spectral measure of the noise as in the case of the white noise in time, regardless of the temporal covariance function of the noise.
Interpersonal discounting

Many discounting choices affect both the decision maker and at least one other person. The interpersonal nature of these choices is not well explored because the current empirical literature primarily focuses on estimating individual discount rates. We design a laboratory experiment to elicit interpersonal discount rates where individuals consider present versus future consumption tradeoffs for cases that involve both the self and others. By allowing for possible presence of others’ welfare in one’s utility function, our estimation results show that interpersonal discount rates are significantly different from traditional individual discount rates, particularly in situations when an individual may trade off his/her own future payment with the current payoff for others. We find support that the distinct interpersonal discount rate reflects a temporal form of other-regarding preferences.
Integrated Foreign Exchange Risk Management: The Role of Import in Medium-Sized, Manufacturing Firms

Empirical research has focused on export as a proxy for exchange rate exposure and the use of foreign exchange derivatives as an instrument to deal with this exposure. This empirical study applies an integrated foreign exchange risk management approach with a particular focus on the role of import in medium-sized manufacturing firms in Denmark (a small, open economy). We find a strong, negative relation between import and the use of foreign exchange derivatives on the aggregate level. Our findings are consistent with the notion that firms use import to match the foreign exchange exposure created by foreign sales activities.
Normal science and its tools: Reviewing the effects of factor analysis in management

O objetivo neste estudo foi investigar como diferentes metodos de extracao, de definicao de fatores e de rotacao da analise fatorial exploratoria afetam o ajuste de escalas de mensuracao. Para tanto, foi feita uma meta-analise de 23 estudos, na qual os resultados apontaram que o metodo de Componentes Principais proporciona maior variância explicada, enquanto o metodo de Maxima Verossimilhanca aumenta a confiabilidade. Entre as rotacoes, a Varimax fornece maior confiabilidade e o Quartimax a menor correlacao entre fatores. Na conclusao do trabalho sao destacadas as implicacoes para a pesquisa quantitativa, assim como sugeridos novos estudos.
Climate change and drought: a risk assessment of crop-yield impacts.

We assessed the drought risk for world crop production under current and future cli- matic conditions by using an integrated approach to analyze the correlation between historical crop yield and meteorological drought. Future drought frequencies are estimated based on ensemble results from 20 general circulation model (GCM) climate change patterns and 6 emissions scenarios from SRES (Special Report on Emissions Scenarios) using a revised Palmer Drought Severity Index. The drought risk index was established by combining the effects of drought-disaster frequency, drought severity, production (yield) and extent of irrigation. Results indicate that, for most regions, the probability density functions (PDF) of the 120 drought disaster frequency projections for 2100 show quasi-normal distributions and consistently project higher drought disaster frequency (DDF) than that of baseline, which indicates an overall enhanced drought risk in the future climate change. Globally, the drought disaster-affected area will increase with the rising global temperature, from 15.4 to 44.00% by 2100. The average cropland drought risk index (DRI) doubles from 52.45 to 104.60 in 2050 projections. In 2100, the projection for the DRI increases to 129.40. Among the regions, Africa is ranked as the highest, with a baseline DRI value of 95.77 which increases to 205.46 in 2100 projec- tions. Correspondingly, the rates of yield reduction related to drought disaster for major crops will increase significantly with future climate change, by >50% in 2050 and almost 90% in 2100 for the major crops. Adaptation measures to avoid aggravated drought-disaster risks are called for.
Effect of prey size on vulnerability of copepods to predation by the scyphomedusae Aurelia aurita and Cyanea sp.

A growing number of studies correlate changes in zooplankton populations with abundance of medusae, but we cannot yet explain or predict the specific factors driving these interactions. This study demonstrates that the size of copepods has a significant influence on their vulnerability to predation by scyphomedusae. This finding is important because prey size, independent of behavior, has been neglected in theoretical models of predation by medusae. In experiments in a planktonkreisel, we used live and heat-killed prey (Acartia hudsonica adults and copepodites) to separate the effects of copepod size and behavior on feeding rates by two medusae (Aurelia aurita and Cyanea sp.). Results revealed that: differences in copepod size had a significant impact on feeding rates, and thus small size can provide a refuge from predation; behavior of adults diminished the liability associated with larger size; and medusae with different morphologies ingested A.hudsonica at similar rates. Other experiments demonstrated that medusae digested copepods at different rates based on prey size and predator species, findings that have implications for all future laboratory and field studies that assess feeding by scyphomedusae. Finally, this study illustrates how laboratory studies serve as critical supplements to field observations. The effect of prey size on feeding rates can be confounded by differences in prey behavior, yet explains why small copepods were typically ingested at relatively low rates by medusae. Size was clearly a dominant factor influencing copepod vulnerability across scyphomedusan species, even those with very different morphologies. Future work should focus on the mechanisms of size selection, or the factors influencing contact and retention rates.
Foucault’s dispositive: The perspicacity of dispositive analytics in organizational research

While Foucault’s work has had a crucial impact on organizational research, the analytical potential of the dispositive has not been sufficiently developed. The purpose of this article is to reconstruct the notion of the dispositive as a key conception in Foucault’s thought, particularly in his lectures at the Collège de France, and to develop dispositional analytics with specific reference to matters of organization. Foucault’s dispositional analysis articulates a history of interrelated social technologies that have been constructed to organize how we relate to each other. The article distinguishes various dispositional prototypes. It shows how dispositional analytics leads the way beyond general periodizations and established dichotomies such as the either-or of the discursive and non-discursive, power and freedom, determinism, and agency; and it demonstrates how dispositional analytics can contribute to a more complex understanding of organizational dynamics, power, strategy, resistance, and critique. Dispositional analytics allows for a new interpretation and use of Foucault in relation to organization studies.
EMPLOYEE SHARE OWNERSHIP AND FIRM PERFORMANCE: EVIDENCE FROM A SAMPLE OF CAMEROONIAN FIRMS

1 Univertsity of Yaounde 2, Cameroon 2 ABSTRACT: This paper examines the link between employee share ownership and performance using a sample of firms in the republic of Cameroon. The data are collected from the National Institute of Statistics. The variables used to measure performance and employee ownership are the return on equity and return on assets on one hand, and percentage of capital held by employees on the other. A group of firms using ESO is compared with a group of firms not using ESO and correlation analyses and non-parametric tests of wilcoxon are performed to test the hypothesis on differences of performance between the two groups. Our results show a positive relationship between ESO and economic performance measured by the return on assets. However, there is no evidence of the impact of ESO on financial performance as measured by the return on equity. Keyword: employee stock ownership, firm performance;
FINANCIAL NEWS, BANKS, AND BUSINESS CYCLES

In a model where banks face a capital sufficiency requirement, we demonstrate that news about a fall in the expected return on a portfolio of international long bonds held by a bank leads to an immediate and persistent fall in economic activity. Even if the news never materializes, economic activity falls below steady state for several periods, followed by a recovery. The portfolio adjustment induced by the capital sufficiency requirements leads to a rise in loan rates and tighter credit conditions, which trigger the fall in activity. We contribute to the news-shock literature by showing that imperfect signals about future financial returns can create business cycles without relying on the usual suspects—shocks to technology, preferences, or fiscal policy—and to the emerging economy business cycle literature in that disturbances in world financial markets can cause domestic business cycles without shocks to the world interest rate or to country spreads.
MALAYSIAN CONSTRUCTION INDUSTRY

Building information modelling (BIM) continually presents transformation opportunities and strengthening collaboration within the construction industry. People, process and technology are largely discussed factors affecting BIM adoption across the global construction industry. The unsettling precedence envisaged by construction professionals with the onset of BIM in Malaysia has garnered more research focus on this soft issues to technology adoption. Therefore, this paper focuses on the relationship between people, process and technology perception of construction professionals. The overall causal relationship is examined towards effects on BIM adoption in addition to the degree of influence. Quantitative data was derived through a survey of 352 construction professionals (Architects, Quantity Surveyors, Engineers and Contractors) which was further anlysed using SPSS and Amos v20. The results revealed a high correlation between people, process and technology (>0.50) while process significantly affected BIM adoption (0.35). Overall, the model explored validated the conceptual framework on the impact of BIM perception of construction industry professionals in Malaysia on the adoption rate of BIM. The results denote grey areas for construction industry stakeholders to direct more efforts towards improving knowledge on BIM technology.
The PUR Experiment on the EXPOSE-R facility: biological dosimetry of solar extraterrestrial UV radiation

Abstract The aim of our experiment Phage and Uracil Response was to extend the use of bacteriophage T7 and uracil biological dosimeters for measuring the biologically effective ultraviolet (UV) dose in the harsh extraterrestrial radiation conditions. The biological detectors were exposed in vacuum-tightly cases in the European Space Agency (ESA) astrobiological exposure facility attached to the external platform of Zvezda (EXPOSE-R). EXPOSE-R took off to the International Space Station (ISS) in November 2008 and was installed on the External platform of the Russian module Zvezda of the ISS in March 2009. Our goal was to determine the dose–effect relation for the formation of photoproducts (i.e. damage to phage DNA and uracil, respectively). The extraterrestrial solar UV radiation ranges over the whole spectrum from vacuum-UV (λ<200 nm) to UVA (315 nm<λ<400 nm), which causes photolesions (photoproducts) in the nucleic acids/their components either by photoionization or excitation. However, these wavelengths cause not only photolesions but in a wavelength-dependent efficiency the reversion of some photolesions, too. Our biological detectors measured in situ conditions the resultant of both reactions induced by the extraterrestrial UV radiation. From this aspect the role of the photoreversion in the extension of the biological UV dosimetry are discussed.
A Comparative Study of Academic Self-Concept among Lower- and Higher-Performing EFL Learners in Homogeneously Grouped English Classes

This research closely examines the differences in the changes in subject-specific academic self-concepts between lower- and higher-ability EFL students in homogeneously grouped classes. Participants were college freshmen who were assigned to basic level and advanced level English classes on the basis of their performance on proficiency tests conducted by the school. A questionnaire was designed to inquire into students’ perceived academic confidence, interest, and involvement in their English coursework. The study mainly investigates (1) whether students’ perceptions of their academic confidence, effort, and overall academic self-concept significantly change over time within each ability group and (2) whether there are any similarities or differences in academic confidence and perceived academic effort between lower- and higher-performing students over the duration of the study. The results of the study show that the grouping practice did not have any significant effect on the academic effort of students in either ability level, but it did successfully improve the academic confidence and overall academic self-concept of students placed in the low-performing level. Their confidence significantly and most noticeably increased in terms of their consideration of English as one of the subjects they are good at and their perception about their own English test performance. Higher achieving students' academic self-concepts remains rather stable over time. The greatest differences in perceived academic effort between these two ability groups were found in their interest in English coursework, and their determination to put more effort on English coursework.