Miracle-dz/UniFAR-FTUs huggingface dataset:
The Effect of Credit Supply Shocks on Economic Activity - The Interwar Period

There is little question that financial factors played a role in the amplification and extension of shocks during the Great Depression. The specific mechanisms through which financial factors affected real economic activity, as well as their timing and extent, nevertheless remain a source of controversy. This paper uses a new generation of macroeconomic models that allows for significant disruptions of financial intermediation to examine empirically the timing and extent to which financial factors contributed to the interwar period business cycles through changes in the supply of credit. Results illustrate that disruptions of financial intermediation, through changes in the supply of credit and the cost of capital, were a primary mechanism for the propagation, amplification, and extension of shocks throughout the interwar period. Findings therefore suggest that conventional monetary policy would have been insufficient to offset the decline in output due to financial factors.
Factors involved in the dormancy and germination of Capsella bursa-pastoris (L.) Medik. And Senecio Vulgaris L

bute to the main bulk of the seed population are very similar. Two of the most important of these species are Capsella bursa-pastoris and Senecio vulgaris. We chose them for study in order to gain further insight into the germination characteristics which lead to the success of annual weeds in cultivated or disturbed soil. This paper describes a laboratory investigation into the dormancy and germination behaviour of the two species in relation to some of the major factors which are likely to affect seed germination in the soil. As Koller (1964) has pointed out that there are difficulties in relating petri dish experiments to field conditions. Nevertheless it is believed that laboratory studies under controlled conditions are an essential beginning to an understanding of the behaviour of seeds in response to the complex and fluctuating conditions in the field. In the second paper, an attempt will be made to relate field behaviour to the physiological responses investigated here. MATERIALS AND METHODS Source of seed Seeds were collected in Cheshire in September 1965: those of Capsella bursa-pastoris (L.) Medik. from the Experimental Grounds, Jodrell Bank, and those of Senecio vulgaris L. from Morton's Rose Nursery, Alderley Edge. They were dried to about 800 moisture content in a stream of dry air at room temperature and were then stored in Kilner jars at 4 + 20 C until needed. Occasional checks on viability and dormancy during the 2-year period of these investigations showed that there were no changes, except for a slight loss of dormancy in the case of Senecio.
Recognizing Loan Losses in Banks: An Examination of Alternative Approaches

I investigate the accounting rules for loan loss recognition in banks. In June 2016 the FASB issued a new rule, effective in December 2019, that will replace current GAAP with a model that allows banks to use broader information to estimate loan loss allowances. To empirically examine current GAAP and the new model, I exploit differences in the information sets allowed under the old and the new rules. Using a methodology that combines micro data and machine learning techniques, I provide evidence that it is possible to construct a loan loss recognition model that outperforms the current GAAP without expanding the information set beyond that permitted under the current rule. I find that expanding this model’s information set does not significantly improve its performance. My model’s predicted allowances would have been materially larger at the outset of the financial crisis than actual reported bank estimates. The differences are due to that my model consistently assigns larger weights to certain input variables relative to current GAAP. I also find that weakly capitalized banks under-provision relative to well capitalized banks. My results provide a novel method to examine aspects of the new accounting rule before it comes into effect. The findings suggest that the way information is used, rather than the use of broader information set improves the estimates of loan loss allowance.
Fire Buys of Collateral Assets

When central banks provide unlimited liquidity, eligible collateral assets become more valuable for banks with greater need of liquidity. Since eligible collateral assets are traded over the counter, banks that are more dependent on central bank funding face price discrimination and incur the fire buy premium. Because the risk-shifting channel is open, banks pay a higher premium for lower-rated collateral assets. Using the full fixed-income trading book of German banks, I identify each trade of each bank and investigate how unlimited liquidity provisions affect prices. Expenditures with the fire-buy premium amounted to, on average, 3.2% of banks’ balance sheets.
Using stable carbon (δ13C) and nitrogen (δ15N) isotopes to infer trophic relationships among black and grizzly bears in the upper Columbia River basin, British Columbia

Ecological segregation of species is difficult to determine using conventional dietary analysis techniques. However, stable-isotope analysis may provide a convenient means of establishing trophic segregation of species and of groups of animals within a species in the same area. We measured stable carbon (δ13C) and nitrogen (δ15N) isotope values in hair of black bears (Ursus americanus) and grizzly bears (Ursus arctos) inhabiting the upper Columbia River basin in southeastern British Columbia, together with samples of potential foods ranging from plant material through invertebrates and ungulate meat. We found extensive overlap in both δ15N and δ13C values of hair from male grizzly bears and black bears of both sexes. Female grizzly bears, however, had lower δ15N values in their hair than the other groups of bears, indicating either less animal protein in their diet or a reliance on foods more depleted in 15N, possibly related to altitude. Our isotopic model generally confirmed a herbivorous diet for both .
Comportamento ingestivo de ovelhas em lactação alimentadas com dietas contendo diferentes níveis de fibra em detergente neutro

The aim of this study was to evaluate the effects of different neutral detergent fiber (NDF) levels in the diet on ingestive behavior of lactating ewes. Eighteen 5/8 Ile de France 3/8 Texel ewes, housed in individual cage 24 hours postpartum, were used. Animals were assigned to one of three treatments: 34, 43 and 52% NDF in the diet, in dry matter (DM) basis. The total mixed rations, composed by corn silage (Zea mays L.), ground corn, soybean meal (Glycine max L.), limestone, salt and dicalcium phosphate, were given twice a day, at 0830 AM and 0430 PM. Ingestive behavior was determined by visual appreciation. The increase of the NDF level in the diet significantly influenced (P<.05) DM and NDF intakes, milk yield, and the feeding, rumination, idleness resting and total chewing times, that varied quadratically (P<.05). The NDF feeding and rumination efficiency increased, whereas DM feeding and rumination efficiency linearly decreased (P<.05) as effect of the NDF increased, being necessary more time to feed the same amount of total mixed ration. Highest NDF levels in the diet can cause depression in DM intake.
Sources of inorganic carbon for marine microalgal photosynthesis: A reassessment of δ13C data from batch culture studies of Thalassiosira pseudonana and Emiliania huxleyi

A reevaluation of previously published analyses of stable carbon isotope fractionation by batch cultures of Thalassiosira pseudonana and Emiliania huxleyi indicates that the Rayleigh distillation model was used to model δ13C uptake incorrectly. Correct use of the model shows that the relationship between the δ13C of the particulate organic carbon (δp) and the concentration of the dissolved inorganic carbon (DIC) at the time of harvest can be equally well described by a model assuming bicarbonate or CO2 uptake. The lack of a correlation between growth rate and δp in the T. pseudonana results suggests that growth rate and the intracellular CO2 concentration are directly proportional. Theoretical considerations indicate that the T. pseudonana cultures started at a pH of 9.2 would have become CO2 limited before harvest and that this species must have the ability to utilize bicarbonate when CO2 becomes limiting. The similarity of the T. pseudonana δp results from cultures started at pH 8.2 and 9.2 suggests that the form of DIC entering the cells was the same in both sets of experiments. The results are consistent with (1) uptake of bicarbonate or (2) uptake of CO2, with external carbonic anhydrasemediated conversion of bicarbonate to CO2 supplementing the uncatalyzed supply of CO2 when the latter becomes limiting. Analysis of the δ13C of both particulate organic carbon and coccolith carbon in the case of E. huxleyi suggests that the cells were taking up primarily bicarbonate at low growth rates, but that at high growth rates the DIC used for photosynthesis was derived almost entirely from uptake of CO2. The DIC utilized for coccolith formation seems to have been substantially diluted by isotopically light DIC derived from respiration at high growth rates.
The Market Impact of Predictable Flows: Evidence from Leveraged VIX Products

Abstract What is the market impact of predictable order flow? Leveraged exchange-traded products are useful for answering this question because they generate daily rebalancing flows whose size, sign and timing are predictable. This paper presents new evidence from the market for leveraged volatility products. While the daily rebalancing imposes an implicit cost on investors by putting pressure on closing prices, there is no evidence that the cost is driven by predatory trading. On the contrary, I show that larger and more predictable flows have smaller price impact coefficients, and that there are no excess profits from trading ahead of rebalancing flows during the sample period.
A Multilevel Examination of the Drivers of Firm Multinationality: A Meta-Analysis

Significant research has been devoted to studying the factors that affect firm multinationality. In this study, the authors organize the vast multinationality literature by levels of analysis using a multilevel framework based on the interaction paradigm and conduct a meta-analysis that aggregates the empirical findings from 154 independent samples reported in 145 studies. The cumulative evidence provides strong support for the upper echelons theory that emphasizes the central importance of executives’ characteristics as major determinants of firm multinationality. Moreover, the results indicate that the accumulation of the international experience embedded in human and relational capital is the most significant firm-level factor that affects firm multinationality. The meta-analytic results also reveal that the measurement and sample characteristics of original studies explain the inconsistent findings pertaining to the effects of firm size, firm age, and top management team size on multinationality. On the basis of the meta-analytic findings, several directions for future research are provided.
Influence of Socio-Demographic Factors on Work Life Balance (WLB) among Public University Teachers in Karnataka

In today’s fast paced society managing Human resources has become a challenging yet dynamic and exciting task. Organizations have realized that human resources are their most unique and valuable assets. In this era where the world has become a global village educational institution are trying to keep pace with the competition by retaining key employees through reducing disparities, improving faculty effectiveness, morale and increasing developmental opportunities. Work Life balance is a delicate aspect that results in teacher satisfaction and effectiveness. It has been proved over the years that the balanced work life results in well-being of the faculties, students as well as the organization. Work life Imbalance affects the performance at work place on one side and family care on the other side. This can also create Glass ceiling resulting in lack of opportunities for career growth and development. Organizations are formulating polices and women themselves have adopted strategies to maintain work life balance and overcome glass ceiling. The present study is an attempt to understand the influence of socio-demographic factors on WLB among the faculties of the public universities in Karnataka. This study is based on the primary data. For this purpose, a survey was carried out among the university teachers of the Public universities of Karnataka. An attempt has been made to highlight the challenges faced by women in maintaining the work life balance in this sector.
Gender and Generosity: Does Degree of Anonymity or Group Gender Composition Matter?

Employing a two-by-two factorial design that manipulates whether dictator groups are single or mixed-sex and whether procedures are single or double-blind, we examine gender effects in a standard dictator game. No gender effect was found in any of the experimental treatments. Moreover, neither single- versus mixed-sex groups nor level of anonymity had any impact on either male or female behavior. Keywords: other-regarding, selfish, generous, altruism, gender, dictator, anonymity, experiment.
How CSR Really Affects Employee Misconduct: Selection-Effect and Moral Licensing

Many research papers have shown the efficacy of Corporate Social Responsibility (CSR) as a business instrument to gain customer support and attract more motivated workers who are willing to work for a lower salary. Contentiously, List and Momeni (2017) found there is a dark side to CSR, as CSR increases employee misbehavior on the job due to moral licensing (i.e., doing good licenses to do bad). We conducted a large-scale natural field experiment to study workers’ misbehavior induced by varying levels of CSR engagement by our fictive firms. We separated the selection effect from the moral licensing effect by having half of the subjects self-select into their desired firm while randomizing the other half. We found that moral licensing is at play when randomizing people into firms with different CSR intensities (p = 0.007). However, this effect is outweighed by the selection effect, as morally superior workers (i.e., those who cheat less) choose to work for CSR firms (p = 0.083). This implies that a sudden adoption of CSR can increase misbehavior by current employees, but in the long term, the firm can benefit from CSR because it attracts “morally superior” workers who cheat less and are willing to work for a lower wage. We also found that people of different demographics show different response behavior to CSR (p = 0.004), and demographics affect people’s choice to work for a CSR firm (p = 0.001).
The Overnight Interbank Market: Evidence from the G7 and the Euro Zone

We study the interbank markets for overnight loans of the major industrial countries, linking the behaviour of short-term interest rates to the operating procedures of these countries' central banks. We find that many of the key behavioural features of US federal funds rates, on which previous studies have focused, are not robust to changes in institutional details, along both cross-sectional and time-series dimensions of the data. Our results indicate that central banks' operating procedures and intervention styles play a crucial role in shaping empirical features of short-term interest rates' day-to-day behaviour in industrial countries.
Does Economic Policy Uncertainty Drive the Initiation of Corporate Lobbying?

Economic policy uncertainty (EPU) raises firms’ incentive to lobby policymakers to access policy information and influence policy outcomes. Surprisingly, we find that non-lobbying firms are less likely to initiate lobbying during heightened EPU periods. The evidence is consistent with our time-varying barriers hypothesis that lobbying entry barriers increase with EPU. We verify that the negative effect of EPU on lobbying initiation arises through the channels of lobbying entry expenses and returns to experience. Furthermore, lobbying entry expenses are not large, implying that returns to experience is likely a more serious barrier that prevents non-lobbying firms from initiating lobbying, especially during heightened EPU periods.
How Do Beliefs About the Gender Wage Gap Affect the Demand for Public Policy?

I conduct a survey experiment to study the relationship between people’s beliefs about the size of the gender wage gap and their demand for policies aimed at mitigating it. Beliefs causally affect support for equal pay legislation and affirmative action programs, but cannot account for the polarization in policy views by partisanship and gender. Changes in policy demand seem to be driven by changes in beliefs about discrimination in labor markets and fairness concerns, while self-interest appears less important. I provide evidence that pessimism about the effectiveness of government intervention limits the elasticity of policy demand to perceived wage differentials. (JEL D63, D83, J16, J22, J31, J71)
Genetic structure of Octopus vulgaris (Mollusca, Cephalopoda) from the Mediterranean Sea as revealed by a microsatellite locus

Abstract An investigation of the genetic variability of Octopus vulgaris, an intensively harvested species, was carried out using a mi crosatellite locus as genetic marker. Samples from one eastern At lantic and nine Mediterranean locations were analysed. In each population, the number of alleles at locus Ov06 varied from four to seven and was 21 overall. Observed and expected heterozy‐gosity values ranged from 0.310 to 0.655 and 0.506 to 0.841, re spectively. Permutation tests and the positive average value of FIS showed significant departures from the Hardy‐Weinberg equilibri um, due to a deficit of heterozygotes. FST showed high levels of genetic divergence among the populations. Genetic distance val ues ranged from 0.0004 to 7.1520. Isolation‐by‐distance was not evident either by the Mantel test or multidimensional scaling. Mi crosatellite results are consistent with a previous allozyme study, and suggest that the common octopus does not form a single panmictic unit in the Mediterranean. From a fishery perspective, this information leads to the conclusion that the management of O. vulgaris should be planned on a local level.
Priceless Consumption

Priceless consumption (PC) is a type of consumption that is not available in the marketplace and, therefore, is absent from aggregate consumption measures. We propose an estimation methodology to recover PC from its effects on the composition of observable consumption. The estimation shows that PC is economically significant: It is highly volatile and has become increasingly scarce and valuable over the past decades. As an application, we show that using the recovered true aggregate consumption series, which includes PC, significantly improves the fit of the standard consumption-CAPM with power-utility.
Genetic diversity and population structure of Hypericum humifusum L. (Hypericacae) in Tunisia: Implications for conservation

Abstract Sixteen Tunisian natural populations of Hypericum humifusum from different bioclimates (sub‐humid, upper semi‐arid and lower semi‐arid) were assessed for their genetic diversity using nine isozymes. For all populations and all enzymes, 11 polymorphic loci were detected. The allelic frequencies varied according to the populations. A high genetic diversity and an excess of heterozygosity were observed within populations (A p = 2.02; P% = 64.29; H o = 0.321). The outbreeding mating system and the high number of individuals in the starting populations may contribute to this high variation. A relatively high level of differentiation (F ST = 0.142) and a restricted gene flow among populations (N m =1.34) were revealed. The lower semi‐arid populations showed the highest differentiation (F ST = 0.205). The relationship between F ST and geographic distance matrices was not significant, indicating that the genetic structure among populations is more closely linked to habitat fragmentation and probably to founder events. Nei’s unbiased genetic distances among pairs of populations were low (0.012–0.119). The unweighted pair group method with arithmetic averaging algorithm cluster based on these distances showed four sub‐clusters. Population groupings had no evident relationship with bioclimates or geographic regions. The substantial differentiation between populations and their high genetic similarity suggest their recent divergence as a result of habitat fragmentation. Most of the total variation was found within populations, thus ex‐situ conservation should be based on sampling seeds within, rather than among, populations. Populations harbouring rare alleles and a high genetic diversity level should be collected first.
Inheritance of Blast Resistance in Near-Isogenic Lines of Rice

Resistance to blast disease is an important objective of most rice breeding programs. Genetic studies of resistance have been complicated by variability of the pathogen and lack of rice genotypes with single resistance genes. Near-isogenic lines (NILs) with single blast resistance genes were developed by backcrossing four donor cultivars to the recurrent parent CO39. Five pathogen isolates were used to screen the populations during backcrossing. The 22 NILs were classified into six groups by their reaction to a diverse set of blast isolates (.)
Cognitive Uncertainty

This paper documents the economic relevance of measuring cognitive uncertainty: people’s subjective uncertainty over their ex ante utility-maximizing decision. In a series of experiments on choice under risk, the formation of beliefs and forecasts of economic variables, we show that cognitive uncertainty predicts various systematic biases in economic decisions. When people are cognitively uncertain—either endogenously or because the problem is designed to be complex—their decisions are heavily attenuated functions of objective probabilities, which gives rise to average behavior that is regressive to an intermediate option. This insight ties together a wide range of empirical regularities in behavioral economics that are typically viewed as distinct phenomena or even as reflecting preferences, including the probability weighting function in choice under risk; base rate insensitivity, conservatism, and sample size effects in belief updating; and predictable overoptimism and -pessimism in forecasts of economic variables. Our results offer a blueprint for how a simple measurement of cognitive uncertainty generates novel insights about what people find complex and how they respond to it.