Miracle-dz/UniFAR-FTUs huggingface dataset:
Price Dynamics in the European Carbon Market

This paper examines the futures market contract constellation for Kyoto Phase II carbon financial instruments (CFI’s) as traded on the European Climate Exchange; the most sophisticated and liquid carbon exchange in the EU. The five December maturing futures contracts considered are officially known as European Union Allocations (EUA’s) and the period considered was a timespan from 22/05/2006 to 22/05/2008. The market was modelled using cointegration and Vector Error Correction (VECM) analysis and it was determined that the presence of a long run relation between the contracts indicated that the EUA futures market could theoretically be utilised as a risk mitigation tool through supporting the engagement of effective hedging strategies over time. The market did not, however, conform to a no-arbitrage cost of carry model, indicating that arbitrage opportunities could be prevalent in the market and that it may be inefficient. Analysis showed that the futures contract prices contained a significant element of convenience yield, which was negative and changing in magnitude over time. The negativity of the convenience yield is possibly indicative of a market perception that holding physical stocks of EUA’s is an undesirable activity. It was also determined that the futures market for EUA’s has evolved considerably since a structural break in April 2007 which roughly coincides with the price crash of Phase I EUA’s to €0.02 and a corresponding increase in trade volume of Phase II contracts. The market’s price discovery dynamics were investigated through weak exogeneity tests and Granger causality both in a bivariate and multivariate context, and it was determined that the body of evidence points toward the conclusion that the price discovery process is driven in tandem by the contracts at the extreme short and long ends of the maturity spectrum, in which the long end of the market may be dominant. These findings are in contrast to the accepted theory that in futures markets; spot prices should be the dominant driver of price discovery under a no-arbitrage condition, but is supportive to the contention that the EUA marketplace may exhibit segmentation delineated by participant preferred habitats of long or short maturity contracts
Associations between herpes simplex virus type 2 and HCV With HIV among injecting drug users in New York City: the current importance of sexual transmission of HIV.

OBJECTIVES We examined relationships between herpes simplex virus type 2 (HSV-2), a biomarker for sexual risk, and HCV, a biomarker for injecting risk, with HIV among injecting drug users (IDUs) who began injecting after large-scale expansion of syringe exchange programs in New York City. METHODS We recruited 337 heroin and cocaine users who began injecting in 1995 or later from persons entering drug detoxification. We administered a structured interview covering drug use and HIV risk behavior and collected serum samples for HIV, HCV, and HSV-2 testing. RESULTS HIV prevalence was 8%, HSV-2 39%, and HCV 55%. We found a significant association between HSV-2 and HIV (odds ratio [OR] = 7.9; 95% confidence interval [CI] = 2.9, 21.4) and no association between HCV and HIV (OR = 1.14; 95% CI = 0.5, 2.6). Black IDUs had the highest prevalence of HSV-2 (76%) and HIV (24%) but the lowest prevalence of HCV (34%). CONCLUSIONS Most HIV infections among these IDUs occurred through sexual transmission. The relative importance of injecting versus sexual transmission of HIV may be critical for understanding racial/ethnic disparities in HIV infection.
Interconnecting Ecolutionary, Institutional and Cognitive Economics: Six Steps towards Understanding the Six Links

Many students of evolutionary, institutional, and cognitive economics have been aware that important links among these fields exist, and several authors have worked on bringing these links to light. Nevertheless, large parts of these links still remain poorly understood. Low interest in inter-field cooperation may be one reason, but difficulties in making these links accessible to meaningful analysis appear more constraining. After surveying the links, this paper proposes six steps towards overcoming these difficulties. It then examines how the three fields together may affect methods and results of economic analysis, in particular those concerning certain basic policy issues.
The Causes of Pro-Immigration Voting in the United States Supreme Court 1

During the pre-confirmation debate over Supreme Court Justice Sonia Sotomayor, critics accused her of allowing her background to influence her judicial decisions. This article assesses the validity of such a claim for all sitting justices from 1875 to 2007 in one relevant policy area, immigration. In this article, we look at all 185 immigration-related decisions by the Supreme Court from its creation through 2007. Logistic general estimating equation regression analysis of Supreme Court voting on these cases suggests that justices who were nominated by Democratic presidents, who were urbanites, and who had previous judicial experience were more likely to vote in favor of immigration. However, justices who grew up in the Southwest, had Southern European ancestors, or were ideological conservatives were more hostile to immigration. Although public opinion, the unemployment rate, and the percent foreign-born in a given year did not affect justices’ votes, non-asylum cases and appeals from the Eighth Circuit were more likely to receive favorable treatment. The mean level of racial liberalism of the Senators in office during a particular justice's confirmation hearings likewise had a large impact on his or her subsequent rulings. These findings suggest that Supreme Court voting on immigration is substantially influenced by justices’ background and political preferences as well as by some political and legal structures. These results thus support Legal Realism and New Institutionalism instead of the Traditional Legal Model of Supreme Court behavior.
ON DERIVING THE INTERNAL RATE OF RETURN FROM THE ACCOUNTANT'S RATE OF RETURN

L.A. Gordon (J.B.F.A. Vol. 1 No, 3) claims to have derived a method for approximating the IRR using the ARR. This paper demonstrates that the key relationship in Gordon's paper is only valid if the IRR is already known and used to calculate economic depreciation. It is suggested that Gordon has merely derived a means for refining ARR, but not for deriving IRR. Dans son article paru dam Vol. 1 No 3 de ce journal, L.A. Gordon pretend avoir introduit une methode qui permet d'evaluer “Internal Rate of Return” au moyen de “Accountant's Rate of Return”. Ce papier demontre que le rapport-cle dont Gordon nous fait part n'est verifiable que si “Internal Rate of Return” est preablement connu et sert a calculer l'amortissement economique. On insinue ainsi que Gordon a simplement presente un moyen de perfectionner “Accountant's Rate of Return” mais n'en a pas demontre pour autant l'evaluation de “Internal Rate of Return”. L.A. Gordon (J.B.F.A. Band 1, Nr. 3) behauptet, er habe eine Annaherungsmethode abgeleitet, womit der interne Zinsfuss von dem RO1 Kriterium berechnet werden kann. Dieser Beitrag zeright, dass das Schlusselverhaltnis in Gordons Abhandlung nur dann gultig ist wenn der interne Zinsfull schon bekannt ist und als kalkulatorischer Zinssatz fur okonomische Abschreibungsbetrage verwendet wird. Es wird behauptet, dass Gordon keine Methode fur die Ableitung des internen Zinsfusses entwickelt hat, sondern nur eine fur die Verbesserung des R01 Kriteriums.
Human T‐cell clones in long‐term culture as a model of immunosenescence

Summary: We have consistently observed that like other normal somatic tissue cells, human T lymphocytes manifest a finite proliferative capacity in culture in vitro. When measured in population doublings (PD), this averages about 35 PD for T‐cell clones (TCC) derived from mature peripheral T cells of young adults and about 20 PD more for TCC derived from T‐cell precursors in their bone marrow. We believe that alterations in surface marker phenotypes and corresponding functional changes observed in these human TCC as they progress through their finite lifespans in vitro can provide valuable information on processes of T‐cell immunosenescence in vivo. They may also provide a model system for studying ways of modulating the ageing process to delay or prevent immunosenescence in the elderly and the chronically infected or possibly to accelerate immunosenescence in organ transplantation.
A Two-Factor Binomial Model for Pricing Hybrid Securities: A Simplified Approach

This thesis develops a numerical procedure for pricing financial contracts whose contingent claims are exposed to two sources of risk: the stock price and the short interest rate. Particular emphasis here is placed on hybrid financial securities, i.e. on a group of financial contracts that combine the elements of the two broader groups of securities, debt and equity. Moreover, we focus on "American style" financial products, i.e. financial contracts (such as American options or convertible bonds) giving the owner a right to be exercised within a certain date. In particular, the proposed pricing framework assumes that the stock price dynamics is described by the Cox, Ross Rubinstein (CRR, 1979) binomial model under a stochastic risk free rate, whose dynamics evolves over time accordingly to the Black, Derman and Toy (BDT, 1990) one-factor model. We also show how to apply the numerical procedure to compute the price of three financial contracts with increasing complexity: a vanilla (European and American) call option, a callable convertible bond and a participating policy, i.e. an insurance contract where the benefit for the policyholder is partly fixed and partly variable, depending on the profit of the insurance company. We also discuss some issues related to the implementation and calibration of such a two factors numerical procedure and in particular how the dynamics of each risk factor can calibrated to the observed market prices. Finally, in order to assess the validity of the model, its advatages and drawbacks, we conduct an empirical analysis where, in particular, the role of the correlation between stock price and interest rate is emphasized. We study different possible ways for calibrating the correlation parameter, including implied correlation and multivariate GARCH forecast.
Robust random chip ID generation with wide-aperture clocked comparators and maximum likelihood detection

In many applications, mass-produced chips need to be tagged with individual identification numbers (i.e. chip ID). One way to do this without requiring post-fabrication programming steps is to generate the unique ID per chip exploiting random device mismatch. However, it can be prone to mis-identification due to time-varying noise that may cause a different ID to be read from the same chip each time. This paper presents a wide-aperture, low-noise clocked comparator design and a novel ID detection scheme based on maximum likelihoods (ML) that can significantly reduce the probability of mis-identification for such random chip ID generators. A prototype chip fabricated in 0.18-μm CMOS demonstrates the measured input-referred noise of the comparator as low as 265-μVrms, while preserving the wide input-referred offset distribution of 22-mVrms. As for the detection scheme, the analysis shows that when detecting 1024 unique IDs, the proposed ML detection scheme can achieve the mis-identification rate of 1.73×10-18 with 64-bits while the previous scheme based on Hamming distances (HD) would require 90-bits.
Magnetic resonance imaging related to neurologic outcome in cervical spinal cord injury.

The purpose of this study was to examine the relationship between the initial intramedullary hemorrhage, as seen by magnetic resonance imaging (MRI), and the neurologic deficit and eventual neurologic outcome of acute cervical spinal cord injured subjects. MRI and motor assessments were performed on 24 subjects with motor complete (Frankel A & B) and incomplete (Frankel C & D) injuries. Recovery was determined by evaluating an initial and a final motor power following spinal cord injury (SCI), as defined by the manual muscle test (grade 1-5) and motor index score (MIS). Results showed that all 15 subjects having hemorrhage had motor complete injuries (Frankel A & B). Sixteen percent of the muscles in the upper extremities and 3% of the muscles in the lower extremities in these 15 subjects improved to a grade of > or = 3/5 at the final evaluation post-SCI. In comparison, of the nine subjects not having hemorrhage, eight had motor incomplete injuries (Frankel C & D) and had 73% and 74% of muscles improving in the upper and lower extremities, respectively. In addition, a change in MIS from initial to final evaluations showed a significant difference between subjects with hemorrhage and subjects without hemorrhage (upper extremities: p = .002 and lower extremities: p = .0001). In conclusion, the initial MR image and neurologic assessment correlated with motor power recovery.
The FOMC in 1974: monetary policy during economic uncertainty

Another uncertainty involved the question of the appropriate rate of growth of the monetary aggregates. Some analysts viewed the downturn in output to be the result of supply constraints, and concluded that, in view of the accelerating rate of inflation, a slower rate of growth of money was appropriate. Other analysts held the view that the cause of the decline in rcal output was inadequate aggregate demand, and thereby urged more rapid monetary expansion.
Tqm: Instant Pudding For the Personnel Function?

Adrian Wilkinson and Mick Marchington, who are Lecturer and Senior Lecturer in Industrial Relations at the Manchester School of Management, consider the long-running debate about the role of the personnel function and, in particular, the argument that line managers are now taking the lead in the development of HR initiatives. They argue that this debate obscures the reality of organisational diversity and that a more fruitful line of enquiry is to focus on the different roles which personnel practitioners may play. They stress the diversity and multiplicity of personnel contributions in the development of TQM initiatives uncovered in their recent case study research, and suggest that there is perhaps a more optimistic future for the personnel function than implied elsewhere.
CT perfusion scanning with deconvolution analysis: pilot study in patients with acute middle cerebral artery stroke.

PURPOSE To measure mean cerebral blood flow (CBF) in ischemic and nonischemic territories and in low-attenuation regions in patients with acute stroke by using deconvolution-derived hemodynamic imaging. MATERIALS AND METHODS Twelve patients with acute middle cerebral artery stroke and 12 control patients were examined by using single-section computed tomography (CT) perfusion scanning. Analysis was performed with a deconvolution-based algorithm. Comparisons of mean CBF, cerebral blood volume (CBV), and mean transit time (MTT) were determined between hemispheres in all patients and between low- and normal-attenuation regions in patients with acute stroke. Two independent readers examined the images for extent of visually apparent regional perfusion abnormalities. The data were compared with extent of final infarct in seven patients with acute stroke who underwent follow-up CT or magnetic resonance imaging. RESULTS Significant decreases in CBF (-50%, P =.001) were found in the affected hemispheres of patients with acute stroke. Significant changes in CBV (-26%, P =.03) and MTT (+111%, P =.004) were also seen. Significant alterations in perfusion were also seen in low- compared with normal-attenuation areas. Pearson correlation between readers for extent of CBF abnormality was 0.94 (P =.001). Intraobserver variation was 8.9% for CBF abnormalities. CONCLUSION Deconvolution analysis of CT perfusion data is a promising method for evaluation of cerebral hemodynamics in patients with acute stroke.
INITIAL FINDINGS OF RURAL HOUSEHOLD FOOD SECURITY IN SELECTED DISTRICTS OF THE NORTHERN PROVINCE

A study carried in 1995, among 197 randomly selected rural households from five selected districts of the Northern Province indicate a high incidence of and variability in household food security. Households in two districts of Nebo and Botlokwa are totally food insecure, while that of Seshego remain vulnerable and those in Venda and Gyani districts seem food secure. Based on calculations of the minimum daily calorie requirements of adults equivalents (2205 cal/day) for the sample, 58%,17% and 25% are classified as food in secured, vulnerable and secured, respectively. Respondents perceive drought and lack of income as the causal factors of food shortages. Dependence on community/social networks, own food production, employment seeking and asset accumulation are the short and long run coping strategies adopted by the households. Intensifying staple food production, would help expanding food access to the poor and vulnerable groups and enhancing participatory agricultural and rural development through stre.
Are Option-Implied Forecasts of Exchange Rate Volatility Excessively Variable?

Market participants' forecasts of future exchange rate volatility can be recovered from option contracts on foreign currencies. Such implicit volatility forecasts for four currencies are used to test rational expectations jointly with the applicability of the standard Black-Scholes formula. First, we examine the null hypothesis that the market-anticipated one-month-ahead standard deviation is an unbiased estimator of the subsequent realized standard deviation. The parametric regression method rejects this hypothesis overwhelmingly: the implicit forecasts are themselves excessively variable. Simulations indicate that the rejection is not caused by non-normality of the error term. Second, we use a nonparametric method to test a weaker version of market rationality: the market can correctly forecast the direction of the change in exchange rate volatility. This time, the weaker version of rationality is confirmed- Third, we investigate how market forecasts are formed. We find some evidence that market participants put heavy weight on lagged volatility when forecasting future volatility. Finally, results from the Alternating Conditional Expectations algorithm provide further support for the central finding that when the market predicts a large deviation of volatility from its mean, it could do better by moderating its forecast.
Exploring the lack of progress in improving patient safety in Australian hospitals

Objectives This study aimed to build on the increasing evidence of a link between good people management practice, and organizational and patient outcomes in public health care to document the important human resource management practices in our hospitals. Methods The design included large scale survey of hospital managers' perceptions of the use of human resource management practices. The questionnaire included Human resource management (HRM) measures and additional questions related to the Australian hospital accreditation standards. Data were collected in December 2003 until April 2004 from a total sample of 92 hospitals/hospital organizations from the State of Victoria, Australia. The participants were Chief Executive Officers, Human Resource Directors and two other senior managers of the hospital organizations were invited to complete the questionnaire. There were no interventions. The main outcome measure, one-way analysis of variance was used to determine differences in the perceptions of the three groups of managers' concerning the use of HRM practices. Frequency and descriptive statistics were used to determine use of HRM practices. Results A 67% response rate enabled us to document human resource management practices in Victorian hospitals. The respondents reported limited strategic and organizational HRM. Conclusion This study found limited evidence of sophisticated HRM practices among hospitals and hospital organizations in the State of Victoria, Australia. Despite the increasing evidence of a relationship among effective HRM and health-care outcomes, these hospitals reported limited performance management, training and development, and employee empowerment and decision-making. The authors suggest that it is unlikely that attempts to improve patient safety in this sector will be successful until the deficits in HRM are addressed.
Application Of The Edge-Based Image Segmentation

In this paper computerized system fcr high temperature measurements of superficial properties has been presented. The process of superficial properties determination is based on digital image processing and analysis algorithms. Image segmentation methods in aforementioned system have been discussed. Particular attention has been paid to new approach for edge-based image segmentation involving parallel performance of gradient operator and thresholding mechanism
Politics, Bureaucratic Corruption, and Maladministration in the Third World: Some Common wealth Carribbean Considerations

of politics and administration, i.e., politicized administration, yet the &dquo; politicization &dquo; concept is only partly outlined and its genesis under different conditions, largely ignored. Politicization is, moreover, treated as a single phenomenon. These weaknesses inherent in the theoretical framework point to a positive relationship between politicization and bureaucratic corruption which is not necessarily correct.
A Case for Intermediate Exchange-Rate Regimes

Despite increasing capital mobility and the subsequent difficulty in controlling exchange rates, intermediate exchange-rate regimes have remained widespread, especially in emerging and developing economies. This piece of evidence hardly fits the "impossible Trinity" theory arguing that it becomes difficult to control the exchange rate without a "hard" device when capital flows are freed. Calvo and Reinhart (2000) have suggested several explanations for such "fear of floating": exchange rate pass-through, liability dollarization, dollar invoicing of domestic and external transactions, and an underdeveloped market for currency hedging make it more desirable to stabilize the nominal exchange rate. However, the New-Keynesian model, which has become the main workhorse for studying exchange-rate regime choice since the 1990s, typically opposes fixed nominal pegs to free-floating regime, without considering intermediate regimes. We intend to fill this gap here by comparing the performance of "extreme" regimes to that of an intermediate regime where monetary authorities care both about inflation and about nominal exchange-rate deviations from the steady state, when a small economy is hit by several types of shocks. Without nominal wage rigidities, our results are in line with the New-Keynesian literature arguing in favor of inflation-targeting regimes. However, when nominal wage rigidities are taken into account, we find the intermediate regime to be appropriate for an economy that is mainly hit by productivity and foreign-interest shocks, which is often the case in emerging and developing economies. The free-floating regime (with inflation targeting) seems more adequate if the economy experiences mostly demand shocks and foreign prices shock. Finally, the fixed peg regime is always dominated by either the free-floating or the intermediate regime. A fully-fledged analysis of intermediate regimes should of course account for the fear-of-floating-type advantages of such regimes, as well as for their shortcomings in terms of costly reserve-accumulation and/or recurrent crises. Our results however suggest that, by concentrating on two extreme regimes (fixed nominal pegs and free floats), by neglecting wage rigidities and/or by assuming that floating countries can engineer an "optimal" interest-rate feedback rule, the existing New-Keynesian literature may have exaggerated the merits of free-floating regimes to the detriment of "soft" pegs.