Miracle-dz/UniFAR-FTUs huggingface dataset:
Neutrality of Planning Procedures in an Economy with Public Goods

Planning procedures for guiding and financing the production of public goods have been proposed by Dreze, de la Vallee Poussin [4] and Malinvaud [8]. Planning procedures are of particular interest in such a case since, as it is well known, the pure non-cooperative competitive mechanism generally leads to inefficient situations in the presence of public goods. Although the solutions proposed by these two procedures to the problem of production and exchange of private goods are very different, they both adopt the same rules for the revision of the public goods quantities. Therefore in the model with only one private good which is considered throughout this paper the two procedures coincide and we shall call it the MDP procedure. The MDP procedure enjoys two properties which justify its study. During the procedure a social surplus appears which can be redistributed among consumers so as to permit an increase in all utility levels-i.e. the procedure is monotonic. Moreover, under usual convexity assumptions the procedure converges to an efficient (or Pareto optimal) situation -i.e. it is stable. Knowing that an efficient situation will obtain if the MDP procedure is implemented, a further question arises. What efficient situations can be reached in such a way? This paper gives conditions under which the following answer holds. Every efficient situation which is preferred or equivalent to the initial situation can be reached by the use of the MDP procedure with a suitable choice of the distribution of the social surplus appearing during the procedure. This choice can be made before the beginning of the procedure and can be kept constant along the procedure. Therefore any negotiation taking place before the beginning of the procedure can legitimately be concentrated upon the choice of a distribution of this surplus. Nobody can object to the rules followed in the revision of the public goods quantities since these rules do not have by themselves any distributive implications. We can say that they are " neutral ". The model and the MDP procedure are described in Section 2. A precise definition of " neutrality " and the main results of the paper are presented and discussed in Section 3. Finally, the proofs are given in Section 4.
Financialization of food - The determinants of the time-varying relation between agricultural prices and stock market dynamics

This paper studies the correlation of agricultural prices with stock market dynamics. We discuss the possible role of financial, macroeconomic and monetary factors in driving this time-varying relation, with the aim of understanding what has caused positive correlation between agricultural commodities and stocks in recent years. While previous works on commodity-equity correlation have focused on broad commodity indices, we study 16 main agricultural prices, in order to be able to assess patterns that are specific to agricultural commodities (but also differences across agricultural markets). We show that an explanation based on a combination of financialization and financial crisis is consistent with the empirical evidence, while global demand factors and monetary forces don't appear to play a significant role. In particular, we find that the correlation between agricultural price changes and stock market returns tends to get higher as the so-called TED spread (our proxy for financial turmoil) increases. Moreover, the impact of financial turmoil on the correlation gets stronger as the share of financial investors in agricultural derivatives markets (our proxy for financialization) rises. Our findings suggest that the influence of financial shocks on agricultural prices is likely to decrease as global financial tensions settle down but also that, as long as agricultural derivatives markets are populated mainly by financial investors, it can be expected to rise again when it is less needed, i.e. in the presence of new financial turmoil.
Paths of Development in the Three-Factor, n-Good General Equilibrium Model

The three-factor, n-good model is displayed graphically and tested empirically. The three-dimensional endowment vectors and expansion paths are represented by points in an endowment triangle. Features of this endowment triangle determine relative factor returns, Rybczy nski and Stolper-Samuelson derivatives, output mixes, and the directi on of trade. The effects of mobile factors and nontraded goods are al so considered. Capital accumulation is shown to induce changes in out puts, trade, and the returns to factors that depend on the abundance of land relative to labor. Weak evidence for this 3 A n model is foun d in a 1978 U.N. data set on the value of output. Copyright 1987 by University of Chicago Press.
The Rise and Fall of State Banking in OECD Countries

State banking is the intervention of the state in the allocation of credit. State banking became important during the course of this century in some Organization for Economic Cooperation and Development (OECD) countries but not in others and then declined in the 1980s. Why? State banking was demanded by sectors that were pressed to invest but that could not find access to long-term credit because of the marginal importance of small and local banks in countries with centralized market and state institutions. The class cleavage enabled these groups to extract state banking from central governments thanks to their pivotal role in the Right-Left rivalry. The current demise of state banking reflects the shift from class to territorial modes of interest articulation in capital markets.
COULD AN INCREASE IN EDUCATION RAISE INCOME INEQUALITY ?: EVIDENCE FOR LATIN AMERICA

This paper explores the direct ef fect of an education expansion on the level of earnings inequality by carrying out microsimulations for most Latin American countries. We find that the direct ef fect of the increase in years of education in the region in the 1990s and 2000s was unequalizing; this result is expected to hold for future expansions if increases in education are not highly progressive. Both facts are closely linked to the convexity of returns to education in the labor market. On average, the estimated impact of the education expansion remains unequalizing when allowing for changes in returns to schooling, although the ef fect becomes smaller.
Mergers and the Market for Corporate Control: The Canadian Evidence

The proposition that a competitive market for corporate control effectively limits managerial divergence from shareholder wealth maximization implies that corporate takeovers are beneficial to shareholders of both firms involved in the transaction. This paper presents the first systematic large-sample study of the valuation effects of Canadian mergers and concludes that these investments indeed create significant gains to shareholders of both bidder and target firms. This evidence, which is particularly interesting in light of extant evidence on the performance of u.s. bidder firms, indicates that the Canadian market for corporate control plays an important role in promoting an optimal resource allocation. Les fusions et le marche du controle des societes: le cas canadien. La proposition qui veut qu'un marche concurrentiel du contr6le des societes limite effectivement les ecarts entre la strategie des gestionnaires et celle qui maximise la richesse des actionnaires a pour corrollaire que les prises de controle des societes sont benefiques pour les actionnaires des deux societes impliquees. Ce memoire presente les resultats de la premiere etude systematique de grande envergure des effets de valeur nette actualisee des fusions au Canada. On en vient a la conclusion que ces investissements ont engendre des gains significatifs pour les actionnaires a la fois des firmes qui ont pris le contr6le et des firmes capturees. Ces resultats, particulierement interessants a la lumiere des resultats qui existent sur la performance des societes americaines qui ont effectue des prises de controle, indiquent que le marche canadien du controle des societes joue un role important dans la promotion d'une allocation optimale des ressources.
The role of time and size in ontogenetic allometry: I. Review.

Several interconnected issues are a part of most studies of ontogenetic allometry, the relationship between size and shape during growth. One issue is the choice of a model, either linear or one of a series of nonlinear models that have been proposed in the literature. The independent variable, against which growth is assessed, can be a measure of time, e.g., age or a measure of size, e.g., weight. These categories of independent variables have become confused with Medawar's (1945) classification of allometric studies as empirical or deductive. Medawar's distinction may be less useful than Tukey's (1980) between exploratory and confirmatory studies. The "correct" choice for some of these options will be a function of the data set being analyzed. However, an understanding of the implications of these issues is necessary to make the correct choices.
Real-time breath analysis with active capillary plasma ionization-ambient mass spectrometry

On-line analysis of exhaled human breath is a growing area in analytical science, for applications such as fast and non-invasive medical diagnosis and monitoring. In this work, we present a novel approach based on ambient ionization of compounds in breath and subsequent real-time mass spectrometric analysis. We introduce a plasma ionization source for this purpose, which has no need for additional gases, is very small, and is easily interfaced with virtually any commercial atmospheric pressure ionization mass spectrometer (API-MS) without major modifications. If an API-MS instrument exists in a laboratory, the cost to implement this technology is only around 500, far less than the investment for a specialized mass spectrometric system designed for volatile organic compounds (VOCs) analysis. In this proof-of-principle study we were able to measure mass spectra of exhaled human breath and found these to be comparable to spectra obtained with other electrospray-based methods. We detected over 100 VOCs, including relevant metabolites like fatty acids, with molecular weights extending up to 340 Da. In addition, we were able to monitor the time-dependent evolution of the peaks and show the enhancement of the metabolism after a meal. We conclude that this approach may complement current methods to analyze breath or other types of vapors, offering an affordable option to upgrade any pre-existing API-MS to a real-time breath analyzer.
Worst-of Options and Correlation Skew Under a Stochastic Correlation Framework

This article considers a multi-asset model based on Wishart processes that accounts for stochastic volatility and for stochastic correlations between the underlying assets, as well as between their volatilities. The model accounts for the existence of correlation term structure and correlation skew. The article shows that the Wishart specification can generate different patterns corresponding to the correlation skew for a wide range of correlation term structures.Another advantage of the model is that it is analytically tractable and, hence, it is possible to obtain semi-closed-form solutions for the prices of plain vanilla options, as well as for the price of exotic derivatives. In this sense, this article develops semi-closed-form formulas for the price of European worst-of options with barriers and/or forward-start features. To motivate the introduction of the Wishart volatility model, the article compares the prices obtained under this model and under a multi-asset stochastic volatility model with constant instantaneous correlations. The results reveal the existence of a stochastic correlation premium and show that the consideration of stochastic correlation is a key element for the valuation of these structures.
Tourism Destination Loyalty

Despite the widespread acceptance that loyalty is a major driving force in successful companies, tourism destination loyalty has not been investigated. This study explores the application and usefulness of destination loyalty. Based on the brand loyalty literature, a number of loyalty measurements are suggested. The application of two measurement approaches to primary data on lifelong travel patterns by New Zealand residents indicate their validity. Through the collection and analysis of data on tourists’ destination loyalty, destinations will be able to determine the composition of its customers with respect to their destination loyalty. It will also facilitate a better forecasting and demand estimation.
The Relationship between Currency Carry Trades and U.S. Stocks

The article examines the relationship between daily returns of currency carry trades and U.S. stocks from January 1995 through September 2010. Carry trade and stock returns are highly correlated with no Granger-causality in either direction. An EGARCH model shows that significant volatility spillovers flow from the stock market to the carry-trade market, but not vice versa. The markets are more correlated in periods of high volatility. Volatilities in both markets also increase more with negative innovations than positive innovations. A sectoral analysis of the index suggests that volatilities of cyclical stocks have more impact than noncyclical stocks on carry trades.
Mortgage Fund Flows, Capital Appreciation, and Real Estate Cycles

This paper provides strong evidence for a positive feedback loop between property prices and mortgage supply, using data from the U.S. commercial property and mortgage markets over the 1991 to 2011 period. The empirical analyses control for the endogeneity of property prices, mortgage flows, mortgage interest rates, and loan to value ratios, and provide two main findings. First, exogenous increases in mortgage supply, measured with the growth of the CMBS market, significantly reduce property cap rates. Second, volatility of past price changes and the “biggest loss” in property values in the past significantly affect mortgage supply. This positive feedback loop may be an important driving force for real estate cycles.
Plug-and-Play Robust Voltage Control of DC Microgrids

The purpose of this paper is to explore the applicability of linear time-invariant dynamical systems with polytopic uncertainty for modeling and control of islanded dc microgrids under plug-and-play (PnP) functionality of distributed generations (DGs). We develop a robust decentralized voltage control framework to ensure robust stability and reliable operation for islanded dc microgrids. The problem of voltage control of islanded dc microgrids with PnP operation of DGs is formulated as a convex optimization problem with structural constraints on some decision variables. The proposed control scheme offers several advantages including decentralized voltage control with no communication link, transient stability/performance, PnP capability, scalability of design, applicability to microgrids with general topology, and robustness to microgrid uncertainties. The effectiveness of the proposed control approach is evaluated through simulation studies carried out in MATLAB/SimPowerSystems Toolbox.
Expression of macrophage‐colony stimulating factor in normal and inflammatory bowel disease intestine

Mucosal macrophages have been implicated in the pathogenesis of inflammatory bowel disease (IBD). Macrophage‐colony stimulating factor (M‐CSF) influences monocyte/macrophage proliferation, differentiation, and activation. Serum levels are increased in active IBD, but little is known about its role in mucosal inflammation. This study was undertaken to determine the distribution, frequency, and level of M‐CSF expression in normal and IBD‐affected intestine. RNA and tissue were studied from patients with Crohn's disease (CD) and ulcerative colitis (UC) as well as from histologically normal colon. Tissue from intestinal tuberculosis and ischaemic colitis patients served as controls. M‐CSF mRNA and protein were examined by semi‐quantitative reverse transcriptase‐polymerase chain reaction (RT‐PCR), in situ hybridisation, and immunohistochemistry, respectively. M‐CSF mRNA and protein were detected in histologically normal intestine, but their expression was largely confined to the mucosa. In active IBD, the frequency of M‐CSF‐expressing cells was significantly increased and their distribution markedly altered, although no increase in mucosal M‐CSF mRNA levels in intestinal tissue was observed. The changes were not specific to IBD, as there were similar findings in intestinal tuberculosis and ischaemic colitis. The marked alteration observed in M‐CSF expression in IBD and the importance of this cytokine in stimulating macrophage functions suggest that M‐CSF may contribute to the pathogenesis of the IBD lesion. Copyright © 2001 John Wiley & Sons, Ltd.
Policy Punctuations in Colorado Water Law: The Breakdown of a Monopoly

The actors, influences, and processes that combine forces to change policy subsystems are modeled in punctuated equilibrium theory wherein monopolistic policy subsystems are broken down through changes in policy images and venue shopping spurred by a critical mobilization of actors. Studying a case of policy change in Colorado water rights, this research examines multiple levels of policy change-local, state, and cross-case. This research finds that at the state level, punctuated equilibrium theory accurately explains the process by which policies changed to allow for recreational in-channel uses of water. At the local level, however, these processes are not clearly evident. Using media coverage as a proxy measure for agenda status also shows that policy image change and high public agenda status did not lead to these policy changes within Colorado communities. This article discusses whether we should therefore discount punctuated equilibrium as a model of policy change in this case. Copyright 2010 by The Policy Studies Organization.
Convergence or Divergence? Types of Regional Responses to Socio-Economic Change in Western Europe

Testing for convergence or divergence has recently become the kernel of the studies dealing with regional growth in Western Europe. The contradictory results of these analyses, however, still do not allow us to determine which is the dominant trend. This paper shows that our understanding of these processes depends on factors such as the way growth is measured and the influence of national growth on regional growth patterns. When these factors are taken into account, the analysis of the evolution of regional disparities in Western Europe in the last two decades uncovers the emergence of growth patterns that are closely related to the capacity of every space to respond to the challenges generated by the process of socio-economic restructuring.
Network-Constrained Multiperiod Auction for Pool-Based Electricity Markets of Hydrothermal Systems

Network-constrained market clearing procedures in pool-based electricity markets of hydropower systems have traditionally neglected the constraints associated with physical and operating aspects of hydroelectric generation (hydraulic constraints). Such constraints are generally taken into account by means of expost procedures, which may lead to suboptimal results regarding social welfare function. This paper proposes a network-constrained auction model for hydrothermal systems that represents the hydraulic constraints in detail. The objectives of the paper are twofold: the analysis of the impact of hydraulic constraints on market clearing prices and on generation/consumption scheduling and the analysis of the influence of strategic offering of hydro plants in the operation of a hydraulic cascade. As some of the hydraulic constraints are nonlinear and intertemporal, linearization techniques are applied, resulting in a mixed-integer linear programming problem.
The dominant role of the prosegment of prorenin in determining the rate of activation by acid or trypsin: studies with molecular chimeras.

Human prorenin activation by acid or trypsin is faster than rat prorenin by two orders of magnitude. No plausible mechanism exists to explain the difference. Two chimeric mutant prorenins were produced in CHO cells. A chimera, hPro/rRen, composed of human prorenin prosegment and rat active renin segment, was activated as fast as wild-type human prorenin at pH 3.3 and 25 degrees C or by trypsin (1 microg/ml). The other chimera, rPro/hRen, composed of rat prorenin prosegment and human active renin segment, was activated as slowly as wild-type rat prorenin at pH 3.3 and 25 degrees C or by trypsin (50 microg/ml). These results indicate that the rate of activation of prorenin is predominantly determined by the N-terminal pro-sequence. Plausible mechanisms are discussed.
Sub-milliwatt integrated oven for temperature stable laterally vibrating piezoelectric MEMS resonators

This paper reports the design and demonstration of an integrated oven for aluminum nitride (AlN) piezoelectric MEMS resonators that enables device heating from -40°C to +85°C with a power consumption as low as 368μW - the lowest ever recorded for MEMS resonators. The same resonators exhibit quality factors (Q) as high as 4,459. In this work, RF power delivery is decoupled from resonator supporting beams, hence alleviating the trade-off between power consumption and Q-factor; moreover, heaters are placed externally to the resonator body, hence eliminating the deleterious effects of serpentines on the acoustic properties of the device. More importantly, this ovenization technique is independent of the resonator geometry, so it is broadly applicable to any resonator frequency (70MHz to 1.16GHz in this work). This demonstration constitutes a fundamental stepping stone in enabling temperature stable oscillators with extremely low power consumption.
The treacle triplets : a functional approach to the translation of children's literature

This study investigates the mechanics behind the translation of children’s literature through a practical translation from Dutch into English and an introspective commentary thereof. It also examines the cultural disparity and Anglo-American dominance within (translated) children’s literature. Through this translation and study, this thesis would like to contribute to the one-sided literary traffic and point out the cultural consequences this imbalance in trade will hold. Not only for a world library of children’s literature, but also for English speaking children who are increasingly oblivious of foreign literature. This thesis especially addresses the British reluctance towards translated foreign children’s literature due to the strong position of English as a language and the quality of the British national children’s literature. Furthermore, it challenges translation studies to consider the different needs and strategies for the translation of children’s literature. The approach this translator proposed for the translation of De zusjes Kriegel was a functional dialogic approach. This thesis therefore touches upon the developments that have led to the rise and wide applicability of functionalism in the practice of translation. Some of the most salient theorists in translation of children’s literature will also be discussed, specifically focusing on Riitta Oittinen’s ideas on Bakhtinian dialogue and carnivalism in relation to the translation of children’s literature. A functional dialogic approach to the practical translation of De zusjes Kriegel has led to an overall naturalised and domesticated translation in which the source text was adapted to a British target text cultural setting. This strategy was chosen to guarantee positive reception of the translation in the target text culture. A small-scale empirical reception survey has asserted this positive reception and reinforced some of this thesis’ presuppositions, among others that English-speaking children have no access to and no knowledge of foreign literature. Through the success of the practical translation and the positive reception of the target text this study has emphasised the importance and cultural necessity of translating foreign children’s literature into English.