Miracle-dz/UniFAR-FTUs huggingface dataset:
Refutable implications of the firm model under risk

Curvature properties of the indirect utility function are shown to be necessary and sufficient for refutable behavioural postulates in the form of comparative static results, reciprocity relations, and restrictions on output and input responses for firm models under risk. These postulates are independent of onerous restrictions on risk preference, technology, or random variable distribution. As an exposition, the complete set of refutable implications for a multi-output firm operating under price risk is derived. At the data means, these implications are not rejected when they are tested using firm-level data, but both risk neutrality and constant absolute risk aversion are rejected. At individual observations, one implication is rejected almost as frequently as risk neutrality and constant absolute risk aversion.
Fungal Community Responses to Past and Future Atmospheric CO2 Differ by Soil Type

ABSTRACT Soils sequester and release substantial atmospheric carbon, but the contribution of fungal communities to soil carbon balance under rising CO2 is not well understood. Soil properties likely mediate these fungal responses but are rarely explored in CO2 experiments. We studied soil fungal communities in a grassland ecosystem exposed to a preindustrial-to-future CO2 gradient (250 to 500 ppm) in a black clay soil and a sandy loam soil. Sanger sequencing and pyrosequencing of the rRNA gene cluster revealed that fungal community composition and its response to CO2 differed significantly between soils. Fungal species richness and relative abundance of Chytridiomycota (chytrids) increased linearly with CO2 in the black clay (P < 0.04, R 2 > 0.7), whereas the relative abundance of Glomeromycota (arbuscular mycorrhizal fungi) increased linearly with elevated CO2 in the sandy loam (P = 0.02, R 2 = 0.63). Across both soils, decomposition rate was positively correlated with chytrid relative abundance (r = 0.57) and, in the black clay soil, fungal species richness. Decomposition rate was more strongly correlated with microbial biomass (r = 0.88) than with fungal variables. Increased labile carbon availability with elevated CO2 may explain the greater fungal species richness and Chytridiomycota abundance in the black clay soil, whereas increased phosphorus limitation may explain the increase in Glomeromycota at elevated CO2 in the sandy loam. Our results demonstrate that soil type plays a key role in soil fungal responses to rising atmospheric CO2.
Institutional continuity in German collective bargaining: Do employer associations contribute to stability?

Employer associations’ organizational capacity to extend collective bargaining coverage (CBC) beyond unionization levels is one important factor contributing to the stability of multi-employer bargaining in Germany. Based on a representative sample of 142 German employer associations, this article carries out an empirical examination of the characteristics influencing this capacity. The major results are that a wider political domain and adherence to social partnership positively contribute to associations’ static capacity to extend CBC, as approximated by membership density. Yet, in a dynamic perspective – approximated by membership growth rates – a paradoxical trend is revealed by which organizational stabilization of associations is achieved at the expense of decoupling firms’ membership status from collective bargaining arrangements, weakening employer associations’ future capacity to extend CBC.
A Generalized Variable Elasticity of Substitution Production Function with an Application to the Neoclassical Growth Model

This paper develops a generalization of a class of variable elasticity of substitution production functions introduced by Revankar (1971). The generalized function includes as special cases the more representative cases of the CES family that were absent from the original formulation. A complete characterization of the new class is provided, together with an application to the neoclassical growth model.
An Analysis of the Dynamic Relationships between the South African Equity Market and Major World Equity Markets

This paper provides the first comprehensive analysis of the dynamic relationships between the South African and major world equity markets during May 1988 - May 2000. Using a multivariate cointegration framework and vector error-correction modeling the results indicate that there is a long-run relationship between the South African market and major developed markets. Over the full sample period, the US, Canada and Australia exert the most influence on South Africa, while the influence of Japan is minimal. The subperiod analysis shows that, during the Apartheid period, a long-run equilibrium relationship between South Africa and the major developed markets did not exist. In contrast, during the post-Apartheid period, the long-run relationship has become strong and statistically significant for all the major developed markets, except Japan. Overall, the results imply that South Africa is now much more economically and financially integrated with major developed markets, and that the removal of Apartheid has played a significant role in this process.
Portfolio Risk and Self-Directed Retirement Saving Programmes

Defined contribution retirement plans expose retirement savers to financial market risks. This paper explores the costs of retirement wealth risk. It begins by describing the holding of company stock in 401(k) plans in the US, an investment choice that yields a poorly diversified retirement portfolio. It then summarises the composition of household wealth at retirement and investigates how the degree of diversification in retirement assets affects expected utility. The cost of holding a poorly diversified retirement portfolio is very sensitive to whether or not the retirement saver has other assets that provide a floor for retirement consumption.
Audio feature extraction and analysis for scene classification

Analysis and classification of the scene content of a video sequence are very important for content-based indexing and retrieval of multimedia databases. We report our research on using the associated audio information for video scene classification. We describe several audio features that have been found effective in distinguishing audio characteristics of different scene classes. Based on these features, a neural net classifier was quite successful in separating audio clips from different TV programs.
The gad2 Promoter Is a Transcriptional Target of Estrogen Receptor (ER) α and ERβ: A Unifying Hypothesis to Explain Diverse Effects of Estradiol

Estradiol (E2) regulates a wide range of neural functions, many of which require activation of estrogen receptor α (ERα) and/or ERβ, ligand-gated transcriptional regulators. Surprisingly, very few neural gene targets of ERs have been identified, and these cannot easily explain the myriad effects of E2. GABA regulates most of the same neural functions as E2, and GABAergic neurons throughout the brain contain ER. Therefore, we examined whether E2 directly regulates expression of glutamic acid decarboxylase 2 (gad2), the enzyme primarily responsible for GABA synthesis for synaptic release. Using dual luciferase assays, we found that E2, but not other gonadal steroids, stimulated the activity of a 2691 bp rat gad2 promoter reporter construct. Activation required either ERα or ERβ, and ERβ did not repress ERα-mediated transactivation. Site-directed mutagenesis studies identified three estrogen response elements (EREs) with cell-specific functions. An ERE at −711 upstream of the gad2 translational start site was essential for transactivation in both MCF-7 breast cancer cells and SN56.B5. G4 neural cells, but an ERE at −546 enhanced transcription only in neural cells. A third ERE at −1958 was inactive in neural cells but exerted potent transcriptional repression in E2-treated MCF-7 cells. Chromatin immunoprecipitation assays in mouse GABAergic N42 cells confirmed that E2 induced ERα binding to a DNA fragment containing sequences corresponding to the −546 and −711 EREs of the rat promoter. Based on these data, we propose that direct transcriptional regulation of gad2 may explain, at least in part, the ability of E2 to impact such a diverse array of neural functions.
HR outsourcing: threat or opportunity?

Purpose – The debate on human resource (HR) outsourcing is polarised. HR outsourcing is seen as an opportunity for the HR function by some and as a threat by others. The first view suggests that HR outsourcing is an instrument creating time for HR to become a strategic partner. The second view considers HR outsourcing as a cost‐cutting instrument gradually reducing HR staff. The purpose of this study is to examine whether HR outsourcing is a manifestation of a strategic HR focus, a cost‐cutting HR focus or both.Design/methodology/approach – The sample is obtained from an economy‐wide, cross‐sectional survey. The data cover 1,264 organisations with ten employees or more.Findings – Results indicate that organisations with a strong focus on HR cost‐cutting do not outsource more than organisations with a weaker focus on HR cost‐cutting. The analyses show a positive relationship between a strong focus on strategic human resource management (HRM) and the level of HR outsourcing.Research limitations/implications.
Association of cytokine gene polymorphisms with bronchopulmonary dysplasia in Han Chinese newborns

To investigate the association of 14 cytokine gene polymorphisms with bronchopulmonary dysplasia (BPD) among Han Chinese newborns. The 14 polymorphisms investigated were IL18 rs1946519, rs1946518, rs187238, rs360718, and rs360717 polymorphisms, IL10 rs3024493 polymorphism, IL6 rs1800795, rs1800796, and rs1800797 polymorphisms, TNF rs361525 and rs1800629 polymorphisms, and TGFB1 rs1800469, rs1800468, and rs1800471 polymorphisms.
A multi-channel neural stimulator with resonance compensated inductive receiver and closed-loop smart power management

This paper presents an integrated neural stimulator with highly efficient power management solution, which is intended for a 1024 channel epi-retinal implant. The stimulator features an adaptive high quality LC matching network that compensates for the process variation in the resonance frequency of the inductive receiver and maximizes the link power transmission efficiency. Transcutaneous closed-loop power control is realized that enables optimum power transfer in spite of the coupling variation as well as the variation in the stimulation threshold/current. Finally, a programmable adaptive supply in the high voltage (HV) domain is implemented so to minimize the power dissipation during the active stimulation mode in terms of stimulus current/electrode impedance inconsistencies. The stimulator prototype is designed in AMS 0. 35μm HV CMOS technology. In simulation, the power transmission efficiency of the telemetric link is improved by a factor of 2 by the resonance compensation circuits. In addition, automatic supply voltage adaptation of the stimulator from 13.1V to 8V has been achieved, resulting in maximum power saving of 40% for the implantable circuit.
Impact of Information Disclosure on Prices, Volume, and Market Volatility: An Experimental Approach

This study integrates experimental design with econometric techniques to examine the impact of information disclosure on trading prices, trading volume, and market volatility. Using a double auction model, we find that as information disclosure increases, trading prices and trading volume remain the same. However, the volatility in the marketplace is significantly reduced. This overall market efficiency gain is robust to a number of different efficiency metrics.
Derivation of Cost of Capital and Equity Rates from Market Data

Use of the discounted cash flow (DCF) technique in investment and appraisal situations depends on readily available and reliable estimates of cost of capital and equity rates. Previous research on estimating equity rates and cost of capital from financial data sources is extremely limited and includes no evidence on the consistency of rates derived from alternative data sources. This paper derives estimates of equity rates and cost of capital from three alternative commonly available data sources. Estimates are derived separately for operating properties and for homebuilder/land developers on both a before- and after-corporate tax basis. The alternative data sources are found to yield consistent and reliable estimates of equity rates and cost of capital. Rates estimated from these sources are sufficiently accurate and reliable for most investment or appraisal applications. Copyright American Real Estate and Urban Economics Association.
Morphological Indicators of Olfactory Capability in Wobbegong Sharks (Orectolobidae, Elasmobranchii)

Elasmobranchs are thought to possess an acute sense of smell, but the relationship between the anatomy of their olfactory organs and their sensory ecology is poorly understood. Moreover, the ecological diversity of elasmobranchs as a group indicates that there might be considerable interspecific variation in the importance of the olfactory sense. Wobbegong sharks, with their sedentary lifestyle and ambush predatory technique, probably utilize their senses differently than other shark species, making it difficult to generalize about their olfactory capabilities and olfaction-dependent behaviors. In this study, the number of olfactory lamellae and the surface area of the olfactory epithelium were measured as a means of assessing relative olfactory sensitivity in four species of wobbegong shark (the Western wobbegong, Orectolobus hutchinsi; the spotted wobbegong, O. maculatus; the ornate wobbegong, O. ornatus; and the dwarf spotted wobbegong, O. parvimaculatus). We also present a phylogenetic comparative analysis between wobbegongs and other elasmobranchs for which published data on olfactory morphology are available. There is a significant difference in the total number of olfactory lamellae between most species, but not between O. hutchinsi and O. maculatus, although the olfactory sensory surface area is comparable between these two species and O. ornatus. Orectolobus parvimaculatus has a significantly larger olfactory sensory surface area than the other three species, and there is a positive relationship between total body length and olfactory sensory surface area for all four species. Assuming that these morphological measures are true indications of olfactory capability, the olfactory abilities of wobbegongs are as good as, or better than, other benthic elasmobranchs. Interspecific differences in olfactory ability within this group of benthic ambush predators could indicate relative differences in prey detection, intraspecific recognition and mate detection.
Anisotropy effect on GPR signals

Anisotropy can affect ground penetrating radar (GPR) signals by potentially masking detection and modifying interpretation of subsurface features of interest. The effect of anisotropy may not be present in most GPR surveys but where anisotropy is present, distinctive differences exist in multi-offset GPR data. In this paper, we employ three-dimensional (3D) finite-difference time-domain (FDTD) numerical modeling of wide angle reflection and refraction (WARR) surveys to investigate the effect of anisotropy.
Outbreak of Klebsiella pneumoniae Producing a New Carbapenem-Hydrolyzing Class A β-Lactamase, KPC-3, in a New York Medical Center

ABSTRACT From April 2000 to April 2001, 24 patients in intensive care units at Tisch Hospital, New York, N.Y. , were infected or colonized by carbapenem-resistant Klebsiella pneumoniae. Pulsed-field gel electrophoresis identified a predominant outbreak strain, but other resistant strains were also recovered. Three representatives of the outbreak strain from separate patients were studied in detail. All were resistant or had reduced susceptibility to imipenem, meropenem, ceftazidime, piperacillin-tazobactam, and gentamicin but remained fully susceptible to tetracycline. PCR amplified a blaKPC allele encoding a novel variant, KPC-3, with a His(272)→Tyr substitution not found in KPC-2; other carbapenemase genes were absent. In the outbreak strain, KPC-3 was encoded by a 75-kb plasmid, which was transferred in vitro by electroporation and conjugation. The isolates lacked the OmpK35 porin but expressed OmpK36, implying reduced permeability as a cofactor in resistance. This is the third KPC carbapenem-hydrolyzing β-lactamase variant to have been reported in members of the Enterobacteriaceae, with others reported from the East Coast of the United States. Although producers of these enzymes remain rare, the progress of this enzyme group merits monitoring.
Emerging Geography of Creativity and Labor Productivity Effects in China

The paper presents an alternative approach to explain why regional productivity is different across regions by utilizing the creative class approach in China. First, we analyze the extent of spatial agglomeration of the creative class across regions in China. Second, we develop a model with spatial externalities to investigate how the concentration of the creative class can promote regional productivity. Our analysis confirms the importance of spatial agglomeration of the creative class in stimulating regional productivity. The results also imply that regional productivity is greater in markets with higher levels of innovation, capital stock, manufacturing and urbanization. In light of the results of our analysis, we discuss a number of policy implications.
Measuring Economic Convergence

The sustainability of the ERM and the feasibility of EMU is dependent upon the economies of the EC achieving the appropriate degree of economic convergence. One of the difficulties in determining this is the absence of a broadly acceptable measure of economic convergence. In this paper we consider possible definitions of convergence for time series. To be useful the definition must allow for the stochastic nature of the data under consideration, and for the development of formal tests of a convergence hypothesis. These two considerations lead us to a preferred definition of convergence and a proposed framework for testing, based on a time varying parameter formulation and estimation by Kalman filter techniques. We consider the relationship between our proposed framework and other methods for testing convergence. It is argued that our method encompasses most of the tests that exist in the literature. Tests for convergence are then applied to exchange rates, interest rates and inflation rates for a sample of countries including members of the ERM. We conclude that the ERM may have helped to promote convergence in the nominal exchange rates. Although interest rate differentials have declined, convergence does not seem to be occurring. For inflation rates convergence can be rejected. Taken together these results suggest reasons for the recent disruption to the ERM and bring into question its sustainability. © 1997 John Wiley & Sons, Ltd.
Effects of terpenoid precursor feeding on Catharanthus roseus hairy roots over‐expressing the alpha or the alpha and beta subunits of anthranilate synthase

Among the pharmacologically important terpenoid indole alkaloids produced by Catharanthus roseus are the anti‐cancer drugs vinblastine and vincristine. These two drugs are produced in small yields within the plant, which makes them expensive to produce commercially. Metabolic engineering has focused on increasing flux through this pathway by various means such as elicitation, precursor feeding, and introduction of genes encoding specific metabolic enzymes into the plant. Recently in our lab, a feedback‐resistant anthranilate synthase α subunit was over‐expressed in C. roseus hairy roots under the control of a glucocorticoid inducible promoter system. Upon induction we observed a large increase in the indole precursors, tryptophan, and tryptamine. The current work explores the effects of over‐expressing the anthranilate synthase α or α and β subunits in combination with feeding with the terpenoid precursors 1‐deoxy‐D‐xylulose, loganin, and secologanin. In feeding 1‐deoxy‐D‐xylulose to the hairy root line expressing the anthranilate synthase α subunit, we observed an increase of 125% in hörhammericine levels in the induced samples, while loganin feeding increased catharanthine by 45% in the induced samples. Loganin feeding to the hairy root line expressing anthranilate synthase α and β subunits increases catharanthine by 26%, ajmalicine by 84%, lochnericine by 119%, and tabersonine by 225% in the induced samples. These results suggest that the terpenoid precursors to the terpenoid indole alkaloids are important factors in terpenoid indole alkaloid production. © 2005 Wiley Periodicals, inc.
Aid Allocation by German NGOs

Using a new dataset for 41 German non-governmental organizations (NGOs), we analyze the allocation of NGO aid across recipient countries in a Tobit regression framework. By identifying for each NGO the degree of public refinancing, we address the largely unresolved issue of whether financial dependence on the government impairs the targeting of NGO aid. It turns out that German NGOs are more active in poorer countries, while they do not complement official aid by working under difficult local conditions. Beyond a certain threshold, rising financial dependence weakens their poverty orientation and provides an incentive to engage in "easier" environments. In addition, we find that the NGOs follow the state as well as NGO peers when allocating aid. This herding behavior is, however, hardly affected by the degree of public refinancing.
Crowding Out and Eectiveness of Government Grants to Charities

Should we worry about the reduction in private donations collected by a nonpro…t in reaction to a government grant? We present a simple model of a nonpro…t founded by a social entrepreneur that decides on the allocation of her time between leisure, fund-raising, production of the public good. If the funds and time are strongly complementary inputs in the production function of the nonpro…t, an increase in the
Consistent Measures and Bounds For Control Policies

Numerous solutions to control problems cannot be directly compared because the comparison measures depend upon solution specific quantities. Information theoretic approaches use entropy as a consistent measure which is independent of implementation specifics. This paper use state entropy, control entropy, and average work ¿ measures inspired by Source Coding Theory ¿ to characterize the environment complexity, solution complexity, and solution performance in an implementation independent fashion. The paper demonstrates that a trade-off exists between a solution's complexity and its performance. It further presents the Shannon Bound which characterizes the relationship between solution complexity and performance and describes the realization of the bound using Blahut's Algorithm. Finally, it demonstrates that Blahut's Algorithm may be useful in computing optimal policies subject to system constraints.