Miracle-dz/UniFAR-FTUs huggingface dataset:
Profitability of Monopolization by Vertical Integration

It is generally accepted by economists concerned with merger policy that a monopolist does not have a profit incentive for integrating forward into a competitive industry unless there are cost savings to be gained. ' A representative statement of this proposition is as follows. A monopolist of input A, where input B and final product X are produced under purely competitive conditions, has no economic incentive to integrate forward into industry X (in the absence of cost savings of the type described above). The monopolist of A has the ability to extract all the potential profit from industry X by its choice of the price of input A. However, because the underlying theoretical model assumes fixed-proportions production in industry X, an important source of increased profit has been overlooked. Assume that variable-proportions production exists in industry X. Now, the monopolist, by monopolistic pricing, imposes a deadweight loss on industry X by inducing a distortion in factor utilization. In principle, industry X could always benefit by paying the monopolist a lump sum equal to his profit on the condition that it be allowed to buy at marginal cost. Industry X could then use the inputs efficiently and thereby increase its profit. Hence, the vertical merger permits the integrated firm to achieve efficiency in factor utilization and capture the additional profit. The point is shown graphically in figure 1. Suppose that in prenmerger equilibrium the competitive industry produces output X*. For simplicity, we represent he entire industry by isoquant X*. The ratio of the monopoly price of A to the price of B is given by the slope of PP*. The ratio of the marginal cost of A to the price of B is given by MM* (NN* is parallel to MM*). Measuring in units of B, the monop-
Job Exit Behavior of Older Men

A dynamic programming model of job exit behavior and retirement is constructed and estimated using the method of simulated moments. The model and estimation method allow for both unobserved individual effects and unobserved job-specific "match" effects. The model is estimated using two different assumptions about individual discount factors. First, a static model, with the discount factor equal to zero, is estimated. Then a dynamic model, with the discount factor equal to . 95 is estimated. In both models, it is found that bad health, age, and lack of education increase the probability of retirement. The dynamic model performs better than the static model and has different implications for retirement behavior. The job-specific effects are an important source of unobserved heterogeneity. Copyright 1991 by The Econometric Society.
Analysis of the Graduate Labour Market in Finland: Spatial Agglomeration and Skill–Job Match

Consoli D. , Vona F. and Saarivirta T. Analysis of the graduate labour market in Finland: spatial agglomeration and skill–job match, Regional Studies. During the 1990s Finland's economy went from deep recession to becoming among the most innovative and competitive within merely a decade. Economic recovery driven by the surge of information and communication technology (ICT)-related industries with the active support of the higher education system gave way also to growing inequalities among regions, especially within graduate workers. This paper elaborates an empirical analysis of the returns to education of a cohort entering the labour force between 1995 and 2005; the objective is to capture the extent of spatial and occupational determinants on income distribution as Finland slid from its most troubled to its most prosperous times.
Has the Chinese currency been undervalued?

China's trade surplus reached a record $102 billion in 2005 while the US trade deficit of $717 billion accounted for 5.8% of US Gross Domestic Product in the same year. US policy makers claim China's currency is undervalued about 25 to 35% against the US dollar and they blame China for holding the value of the RMB weak to keep Chinese products competitive on prices in international markets. Given the unique situation in China, where the capital account is only partially convertible and the economy has been growing at an annual average rate of 10% over the last two decades, this paper empirically examines the magnitude of the exchange rate misalignment of China's RMB against the US dollar by using the Behavioral Equilibrium Exchange Rate (BEER) and Permanent Equilibrium Exchange Rate (PEER) models. Our results show that the RMB was undervalued by approximately 15% from 2002:Q2 to 2003:Q4; however, it is interesting to note that while the RMB was overvalued during 1997:Q4–2002:Q2, China experienced a huge trade surplus during that period.
External fixation followed by delayed interlocking intramedullary nailing in high velocity gunshot wounds of the femur.

BACKGROUND High velocity gunshot-related fracture is associated with massive soft tissue damage and severe comminution at the fracture site. This unique type of open fracture presents a serious challenge to the orthopedic traumatologist. METHODS The study was conducted prospectively involving patients who presented to the Accident and Emergency Department of the Bone and Joint Surgery Hospital Srinagar (India), from January 2005 to March 2007, with a history of high velocity gunshot wounds to the femur. Initial stabilization with external fixation was followed by delayed interlocking intramedullary nailing. The patients were followed for an average period of 26 months (range, 15-39 months). RESULTS All the patients were males, with an average age of 37 years (range, 22-52 years). Twenty-four (65%) were type IIIA, 11 (30%) were type IIIB and 2 (5%) were type IIIC. All the fractures united in good alignment in an average time of 24 weeks. CONCLUSION External fixation as a primary modality of treatment provides more than adequate stabilization to facilitate nursing, good wound care and physiotherapy. A staged protocol of primary temporary fixation by unilateral external fixation followed by delayed reamed intramedullary interlocking nail seems to be an effective method of treatment for high energy gunshot femoral fractures.
Policies in Poverty Reduction Strategy Papers: dominance or diversity?

Abstract Poverty Reduction Strategy Papers (PRSPs) were introduced in 1999 by the World Bank and International Monetary Fund as a requirement for Heavily Indebted Poor Countries (HIPCs) to gain access to debt relief and concessional loans. They signalled a new focus by including a participatory framework of “nationally driven” policies. Employing 81 PRSPs for 58 countries, published during 2000–2008, this paper develops a unique scorecard to evaluate the alignment of policies in PRSPs with three dominant development paradigms. It finds that the New York Consensus, which was forged around the Millennium Development Goals (MDGs), is driving the content of PRSPs, while the Washington Consensus and Post-Washington Consensus have become secondary influences. This could be the first step in breaking down the hegemony of perceived ideas in the development policy landscape.
The Evolving Firm: How Dynamic and Operating Capabilities Interact to Enable Entrepreneurship

In this study, we expand our understanding of firm evolution by focusing on how operating and dynamic capabilities interact through endogenously led changes. The focus on endogenous change complements the current emphasis in the literature on how dynamic capabilities help firms cope with the risk of core rigidities following an exogenous shock. Our comparison of two collaborating firms shows that, at the operating capability level, firms build absorptive capacity in value networks during their product development experiences and this learning needs to be captured at the product portfolio planning level. When this learning is captured and transformed, product portfolio planning acts as a dynamic capability reconfiguring operating capabilities based on beliefs about follow-on entrepreneurial opportunities. Under conditions of endogenous change, dynamic capabilities are guided by a proactive entrepreneurial logic, complementing the need for reactive adaptive responses in circumstances of exogenous change. A key implication is that dynamic capabilities have a more expansive and critical role in the adaptation of firms than previously considered. Our theorizing shows how interactions between dynamic and operating capabilities build the adaptive capacity of the organization.
Selective Sweep at a Quantitative Trait Locus in the Presence of Background Genetic Variation

We model selection at a locus affecting a quantitative trait (QTL) in the presence of genetic variance due to other loci. The dynamics at the QTL are related to the initial genotypic value and to the background genetic variance of the trait, assuming that background genetic values are normally distributed, under three different forms of selection on the trait. Approximate dynamics are derived under the assumption of small mutation effect. For similar strengths of selection on the trait (i.e, gradient of directional selection β) the way background variation affects the dynamics at the QTL critically depends on the shape of the fitness function. It generally causes the strength of selection on the QTL to decrease with time. The resulting neutral heterozygosity pattern resembles that of a selective sweep with a constant selection coefficient corresponding to the early conditions. The signature of selection may also be blurred by mutation and recombination in the later part of the sweep. We also study the race between the QTL and its genetic background toward a new optimum and find the conditions for a complete sweep. Overall, our results suggest that phenotypic traits exhibiting clear-cut molecular signatures of selection may represent a biased subset of all adaptive traits.
Competence System Management

Competence Set Analysis is a managerial decision analysis theory proposed and studied in 1980’s by the distinguished Professor Po-Lung Yu of Management Science, USA. In this paper, the recent research results in this field and its applications are reviewed, including behavior and decision mechanism, behavior hypotheses, common behavior tendencies, habitual domains analysis, competence set analysis, competence system management, etc. Finally, further possible extensions and research problems are discussed. Key words: Decision analysis; Competence set analysis; Habitual domain; Behavior pattern; Competence system management
Acceptance and transfer to a regional severe respiratory failure and veno‐venous extracorporeal membrane oxygenation (ECMO) service: predictors and outcomes

The use of extracorporeal membrane oxygenation for respiratory failure is high risk and resource intensive. In England, five centres provide this service and patients who are referred have four possible outcomes: declined transfer due to perceived futility; accepted in principle but remain at the referring centre with ongoing surveillance; retrieved using conventional ventilation; or retrieved on extracorporeal support. The decision‐making process leading to these outcomes has not previously been examined. We evaluated referrals to one centre and identified factors associated with each decision outcome. Five hundred and sixty‐four patients were analysed from January 2012 to October 2015. One hundred and fifty‐seven patients were declined; multivariate analysis demonstrated associated factors to be: age (odds ratio (95% confidence interval) 1.05 (1.04–1.07)); immunocompromise (4.95 (2.58–9.67)); lactate (1.11 (1.01–1.22)); duration of ventilation (1.08 (1.04–1.14)); and cardiac failure (3.22 (1.04–10.51)). Factors associated with the decision to retrieve an accepted patient were: plateau pressure (1.05 (1.01–1.10)); ratio of arterial oxygen partial pressure to fractional inspired oxygen (0.89 (0.85–0.93)); partial pressure of carbon dioxide in arterial blood (1.13 (1.03–1.25)); and the absence of non‐pulmonary infection (0.31 (0.15–0.61)). Only pH was independently associated with the decision to transfer on extracorporeal support (0.020 (0.002–0.017)). Six‐month survival in the declined, non‐retrieved, conventionally retrieved and extracorporeal‐retrieved groups was 16.6%, 71.1%, 76.7% and 72.1%, respectively, substantially supporting the decision‐making model. Survival in the accepted group exceeds that reported previously. However, a proportion of those declined do survive and some remotely managed patients die. This suggests the approach does not account for some important survival‐determining factors.
Automatic dividend reinvestment plans of nonfinancial corporations

At recent annual meetings stockholders have requested a mechanism to facilitate the reinvestment of dividends. Shareholders in financial corporations have long enjoyed such a privilege, but not until 1968, when Allegheny Power System, Inc. instituted an automatic dividend reinvestment (ADR) plan, did such ADR plans become available to shareholders of nonfinancial corporations. Since 1968, 264 non-financial companies have instituted ADR mechanisms, and it appears highly probable that rapid growth in this type of stockholder service will continue.
The Politics of Job Quality

In Good Jobs, Bad Jobs Arne Kalleberg provides an extremely useful portrait of job quality in America. This paper addresses the politics of job quality via a case study of weatherization jobs. Weatherization workers are typical of employees in many low wage jobs in America. The stimulus bill (the American Recovery and Reinvestment Act) substantially increased weatherization funding and a political struggle emerged over the quality of these jobs. We find that the variable strength of progressive coalitions, legislative politics and timing all contributed to the development of an uneven set of regulations at the federal and local level. Groups that are putative allies often worked at cross-purposes. More strikingly government at both the local and Federal level has been conservative and even timid about establishing job standards. There are also more positive lessons. Training standards are being formalized. This stands to benefit both homeowners and workers. While there have been conflicts, it is also true that interests that have been historically at each other’s throats notably unions and community groups–found a way to work together more constructively than in the past.
Acquisition and Disclosure of Information Prior to Sale

This article analyzes incentives to acquire information about the value of things before sales transactions, and voluntary versus required disclosure of such information. Two distinctions are emphasized: whether information is mere foreknowledge or instead can raise value -- has social value; and whether it is sellers or buyers who decide to acquire information. The main conclusions in the model are that voluntary disclosure results in socially excessive incentives to acquire information; mandatory disclosure is socially desirable for sellers; but for buyers, the freedom to keep silent may be needed to spur acquisition of socially desirable information.
Some evidence on the distribution of beta in Hong Kong

This paper investigates the stochastic properties of the beta distribution in Hong Kong for the period 1980-93. We test the distribution of beta for one-year and two-year nonoverlapping betas, and for the cumulative overlapping betas within our sample. We find similar results for both the distribution of the nonoverlapping and overlapping betas. Our results show that our beta distributions for the overall 14 one-year betas, seven two-year betas and the 14 cumulative betas are not stable. However, the distributions are all stable within the pre-86 (1980-85) and the post-86 (1986-93) subperiods. A test for a weaker form of stability on the distribution of any two periods suggests that the distribution of all possible pairs of betas exhibit short and median term stability. However, the pairs do not show any sign of long term stability, especially those that span across the two subperiods, pre-86 and post-86 subperiods. The finding of long term instability of the beta distribution in the sample periods casts doubt on the validity of results in certain event study tests which span across the pre-86 and post-86 periods. But, on the other hand, the findings of short and median term stability of the beta distribution do suggest that betas are practically useful and reliable in tests which rely on cumulative betas.
Nuclear size measurement is a simple method for the assessment of hepatocellular aging in non‐alcoholic fatty liver disease: Comparison with telomere‐specific quantitative FISH and p21 immunohistochemistry

Telomere‐specific quantitative fluorescent in situ hybridization (Q‐FISH) accurately evaluates hepatocellular aging on histological sections, but it requires appropriate tissue processing. To establish a more simple method for the assessment of hepatocellular aging, the usefulness of nuclear size measurement was clarified using biopsy liver samples from 64 patients with non‐alcoholic fatty liver disease (NAFLD), a model for oxidative stress‐associated hepatocellular aging, and 11 control individuals. Relative telomere intensity (RTI) was measured on Q‐FISH, and the relative nuclear size (RNS) was calculated as the average nuclear size of the hepatocytes divided by that of lymphocytes. In normal individuals and NAFLD patients, the RTI and RNS were negatively correlated. The degree of nuclear enlargement in NAFLD patients was larger than that in normal individuals with the same telomere length, possibly reflecting telomere‐independent senescence. In NAFLD patients with RNS >2.0, the regenerative responses, indicated by the ratio of Ki‐67‐positive index to serum alanine aminotransferase level, were significantly reduced. The RNS positively correlated with the p21 expression, another marker of senescence. This all indicates that nuclear enlargement progresses in parallel with reduced regenerative responses, telomere shortening, and p21 upregulation. Nuclear size measurement is an effective method for estimation of hepatocellular aging.
Using accelerometers in youth physical activity studies: a review of methods.

BACKGROUND In 2005, investigators convened by the National Cancer Institute recommended development of standardized protocols for accelerometer use and reporting decision rules in articles. A literature review was conducted to document accelerometer methods and decision rule reporting in youth physical activity articles from 2005-2010. METHODS Nine electronic databases identified 273 articles that measured physical activity and/or sedentary behavior using the most-used brand of accelerometer (ActiGraph). Six key methods were summarized by age group (preschool, children, and adolescents) and trends over time were examined. RESULTS Studies using accelerometers more than doubled from 2005-2010. Methods included 2 ActiGraph models, 6 epoch lengths, 6 nonwear definitions, 13 valid day definitions, 8 minimum wearing day thresholds, 12 moderate-intensity physical activity cut points, and 11 sedentary cut points. Child studies showed the most variation in methods and a trend toward more variability in cut points over time. Decision rule reporting improved, but only 54% of papers reported on all methods. CONCLUSION The increasing diversity of methods used to process and score accelerometer data for youth precludes comparison of results across studies. Decision rule reporting is inconsistent, and trends indicate declining standardization of methods. A methodological research agenda and consensus process are proposed.
Inequality, Technology and Job Polarization of the Youth Labor Market in Europe

This paper presents a connecting methodology in order to trace the emerging dynamics of inequality for the youth populace of Europe. We determine that the development of these dynamics are directly affected by the advancement of technology, and especially related to Information and Communication Technologies (ICTs), owing to their broad encompassing effects on various sectors of employment, education and societal structures. Firstly, the drivers of technological progress were analysed comparing 28 European countries simultaneously over a period extending from 2007 to 2013. Secondly, the relative positioning of these countries with respect to their technological standing was analysed using macro socio-economic indicators, in order to trace the relationship between technological advancement and their comparative levels of inequality for the youth population of their countries. Finally, a methodology was developed in order to ascertain the validity of our findings with the aid of a comprehensive indicator that encapsulates the factors governing the technological standing of a country. These exercises were performed on a granular distribution of the European youth populace and over a range of sectors of employment, in order to provide a heuristic connection between education, employment, income levels and ICT.
Love Thy Neighbor? Ethnoracial Diversity and Trust Reexamined1

According to recent research, ethnoracial diversity negatively affects trust and social capital. This article challenges the current conception and measurement of “diversity” and invites scholars to rethink “social capital” in complex societies. It reproduces the analysis of Putnam and shows that the association between diversity and self-reported trust is a compositional artifact attributable to residential sorting: nonwhites report lower trust and are overrepresented in heterogeneous communities. The association between diversity and trust is better explained by differences between communities and their residents in terms of race/ethnicity, residential stability, and economic conditions; these classic indicators of inequality, not diversity, strongly and consistently predict self-reported trust. Diversity indexes also obscure the distinction between in-group and out-group contact. For whites, heterogeneity means more out-group neighbors; for nonwhites, heterogeneity means more in-group neighbors. Therefore, separate analyses were conducted by ethnoracial groups. Only for whites does living among out-group members—not in diverse communities per se—negatively predict trust.
Provincial Convergence of Consumer Prices in Canada

This paper investigates the dynamics of consumer prices indices for Canadian provinces using panel econometric methods. The results suggest that over the 1980-2007 period, the persistence of deviations in response to shocks, measured by the estimated adjusted half-life, is low, at about three quarters for the CPI All-items. There is, however, a great deal of variation across commodities classes and time periods. While the estimated rate of convergence in Canada is comparatively faster than the rates for similar studies reported for other countries, it is also a relatively faster during the post-inflation targeting period than earlier and much more rapid for goods than for services.
Robust Sampled-Data Control of Linear Singularly Perturbed Systems

State-feedback H∞ control problem for linear singularly perturbed systems with norm-bounded uncertainties is studied. The fast variables are sampled with fast rates, while for the slow variables both cases of slow and of fast sampling are considered. The recent `input delay’ approach to sampled-data control is applied, where the closed-loop system is represented as a continuous one with time-varying input delay. Linear Matrix Inequalities (LMIs) criteria are derived for stability and stabilization via input-output approach to stability and L2-gain analysis of time-delay systems. Numerical example illustrates the efficiency of the method.