Miracle-dz/UniFAR-FTUs huggingface dataset:
Five years of the ECB - a mixed experience

This article examines the performance of the ECB's monetary policy. It concludes that the ECB has performed well as regards its primary goal of keeping inflation under control. However, as long as price stability is not threatened the ECB can and should contribute to growth. Here, however, after a good start, the ECB's performance has been disappointing. This article argues that greater coordination between wage and monetary policies is required: if the ECB were to take account of stability-oriented national wage formation policies, then it could pursue a monetary policy that promoted growth without putting in jeopardy price stability. Cet article examine les résultats de la politique monétaire de la BCE. Il conclut que la BCE a réussi son objectif premier, à savoir garder l'inflation sous contrôle. Toutefois, tant que la stabilité des prix n'est pas menacée, la BCE peut et devrait contribuer à la croissance. A cet égard, néanmoins, après un bon démarrage, les résultats de la BCE ont été décevants. Cet article met en évidence le fait qu'une plus grande coordination entre les politiques salariales et monétaires est nécessaire: si la BCE devait tenir compte des politiques nationales de formation salariale orientées vers la stabilité, alors elle pourrait poursuivre une politique monétaire qui favoriserait la croissance sans mettre en péril la stabilité des prix. Dieser Artikel prüft die Leistung der Währungspolitik der EZB. Der Autor zieht den Schluss, dass die EZB im Hinblick auf ihr Hauptziel, nämlich die Inflation unter Kontrolle zu halten, gute Ergebnisse verzeichnet. Dennoch kann und sollte die EZB, sofern die Preisstabilität nicht gefährdet ist, zum Wachstum beitragen. In diesem Punkt sind die Leistungen der EZB nach einem vielversprechenden Start jedoch enttäuschend gewesen. Der Autor argumentiert, dass es einer verstärkten Koordinierung zwischen Lohn- und Währungspolitik bedarf: Wäre die Europäische Zentralbank verpflichtet, einzelstaatliche stabilitätsorientierte Lohnbildungspolitiken zu berücksichtigen, könnte sie eine wachstumsfördernde Währungspolitik führen, ohne dabei die Preisstabilität zu gefährden.
Mind Your Accruals: Perceived Usefulness of Financial Information in the Australian Public Sector Under Different Accounting Systems

This study examines the usefulness of three accounting systems (cash, Generally Accepted Accounting Principles (GAAP) accrual, and Government Finance Statistics (GFS) accrual) for public sector decision-making. From a survey of internal users, external users, and preparers in Australia, we find that GAAP accrual information is perceived to be relatively more useful and understandable than the other two systems for most decisions examined. The relatively higher ratings for GAAP accrual information differ from earlier studies and may reflect an experience or familiarity effect whereby perceptions of usefulness are enhanced because respondents have become more used to the system. This effect might also explain the lower ratings for GFS accrual.
Ovarian steroid regulation of pulsatile luteinizing hormone release during the interval between the mornings of diestrus 2 and proestrus in the rat.

The object of this study was to determine the influence of ovarian steroids on pulsatile LH release in the interval between the mornings of diestrus 2 (D2) and proestrus in the rat. Four groups of rats were bled continuously for 3 h between 09.30-12.30 h at a rate of 75 microliters whole blood/6 min: bled on D2; sham ovariectomy (OVX) on D2 and bled on proestrus; OVX on D2, implanted with empty or oil-filled capsules, and bled 24 h later; and OVX on D2, implanted with estradiol (E2) capsules, and bled 24 h later. Between D2 and proestrus, plasma E2 levels increased from 13 +/- 1 to 42 +/- 9 pg/ml, and progesterone levels decreased from 27 +/- 3 to 13 +/- 2 ng/ml, the latter reflecting the decline of the corpus luteum early on D2. Between D2 and proestrus there was no change in mean blood LH levels, LH pulse amplitude, or pulse frequency. However OVX on D2 increased mean blood LH levels 2.5-fold over values on proestrus due to a 3.5-fold elevation in LH pulse amplitude and an 80% increase in pulse frequency. E2 levels fell in these rats to 8 +/- 1 pg/ml. Restoration of physiological proestrous levels of E2 (46 +/- 5 pg/ml) significantly reduced the increase in mean blood LH levels by lowering pulse frequency to proestrous values, and by causing a 50% reduction in pulse amplitude. However, LH pulse amplitude and therefore mean blood LH levels were still higher than values on proestrus. (ABSTRACT TRUNCATED AT 250 WORDS)
Macroeconomic Convergence and Growth in ECOWAS Countries

This study theoretically examined the convergence of macroeconomic policies on growth among ECOWAS countries. The model used in the study was tested based on endogenous growth theory. The study found fiscal divergence and monetary convergence among the sampled countries in ECOWAS. We therefore concluded that the converged countries could form Monetary and Economic Union in order to foster economic growth.
Survival of Texas infants born with trisomies 21, 18, and 13

Trisomies 21, 18, and 13 are the three most common trisomies among infants who survive to 20 weeks gestation or more. Overall information about birth prevalence, natural history, and mortality for all three trisomies is well defined, but information about ethnic‐specific rates is limited. Only a few studies have examined mortality rates of trisomies 18 and 13 because so few cases are liveborn and most have very short life spans. This study assessed ethnic‐specific population‐based survival probabilities among infants for each trisomy. All cases of trisomies 21, 18, and 13 born in Texas between 1999 and 2003 were obtained from the Texas Birth Defects Registry and included 2,260 cases of trisomy 21, 398 cases of trisomy 18, and 213 cases of trisomy 13. Date and cause of death were obtained from the Texas vital statistics records and the National Death Index. Overall, birth prevalence rates (per 10,000 adjusted live births) for the three trisomies were 11.74 (95% CI: 11.25–12.25), 1.34 (95% CI: 1.18–1.52), 0.92 (95% CI: 0.79–1.07), respectively, and are consistent with previously reported rates. There were no differences in survival rates by ethnicity and the median survival for each trisomy was consistent with previous reports. The results of this study provide comprehensive population‐based information for survival of infants with trisomies 21, 18, and 13. © 2010 Wiley‐Liss, Inc.
Accuracies of Serum and Fecal S100 Proteins (Calprotectin and Calgranulin C) to Predict the Response to TNF Antagonists in Patients with Crohn's Disease

Background:Calprotectin and S100A12 (calgranulin C) are markers of gut inflammation. The aim was to compare the usefulness of serum and fecal calprotectin (fCal) and S100A12 in assessing the response to anti-TNF and in predicting relapse under maintenance therapy in Crohn's diseases (CD). Methods:Thirty-two consecutive patients with CD were treated with adalimumab or infliximab. All received an induction regimen followed by maintenance therapy with infliximab 5 mg/kg every 8 weeks or adalimumab 40 mg every other week and provided at week 0 and 14 fecal and blood samples for determination serum CRP, serum and fecal calprotectin and S100A12 levels. Results:Clinical remission at week 14 (responders) was achieved in 21 patients and among them, 12 were still in steroid-free clinical remission at week 52. Median serum S100A12 and fCal concentrations significantly drop only in responders from week 0 to week 14 after induction, whereas serum calprotectin and fecal S100A12 levels failed to differ significantly. Fecal calprotectin levels at week 14 had the highest discriminant validity to predict clinical remission within 1 year after induction (area under the curve = 0.87) followed by fecal, serum S100A12, and serum calprotectin (area under the ROC curve = 0.70, 0.70, and 0.68, respectively). A cutoff of 82 &mgr;g/g for fCal at week 14 had a sensitivity and specificity of 93% and 75%, respectively, to predict clinical remission within 1 year of therapy. Conclusions:Serum S100A12 level and fCal are reliable markers associated with response to induction therapy with anti-TNF. Fecal calprotectin was the best for predicting clinical remission in CD under maintenance therapy.
Enhancing the prescriptiveness of the resource‐based view through Porterian activity analysis

Purpose – Almost since the inception of the resource‐based view (RBV), critics have complained that the view is weak in the prescriptive dimension. A recent statement of this critique is by Priem and Butler, who argue that the RBV does not address value creation. One aspect of this is that the link between resources and value creation is black‐boxed. The paper aims to argue that a Porterian activity analysis with a focus on activity drivers can remedy this weakness, and how it brings into focus important implementation issues that are neglected in the RBV.Design/methodology/approach – The study extends Priem and Butler's critique of the RBV by examining the RBV literature in light of Porter's activity‐based framework.Findings – The resource‐based logic has been gainfully applied in many fields other than strategy. However, because it lacks the concept of activities, the paper argues that it has not reached its full potential in the field of strategy. Formally including the concept of activities and activi.
Is There a Market for Ideas?

This article draws on recent work in market design to evaluate the conditions under which a market for ideas or technology (MfTs) will emerge and operate efficiently. As highlighted by Roth ( 2007 ), effective market design must ensure three basic principles: market thickness, lack of congestion, and market safety. Roth also highlights the importance of dealing with "repugnance. " Our analysis identifies the factors that are, in most circumstances, likely to inhibit the allocative efficiency of MfT. We show that key institutional developments such as the development of formalized IP exchanges suggest that effective market design may be possible for some innovation markets. Finally, our analysis suggests that markets for ideas are beset by the "repugnance" problem: from the perspective of market design, Open Science is an institution that places normative value on "free" disclosure and so undermines the ability of ideas producers to earn market-based returns for producing even very valuable "pure" knowledge. Copyright 2010 The Author 2010. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved. , Oxford University Press.
The City and the cities: ownership, finance and the geography of recovery

In the wake of a financial crisis and recession, the UK faces a challenging recovery. This represents an important time to revisit the UK’s systems of finance and ownership. This article argues that failures in the national structure of ownership have had significant consequences in local economies where important companies were based. It argues that current efforts to reform the financial system need to focus on supporting innovative high growth firms, ensuring a diversity of new forms of ownership can develop and that finance is available for all firms, regardless of geography. At present, these factors underpin the potentially uneven geography of recovery. Copyright 2012, Oxford University Press.
Impact of bevacizumab dose reduction on clinical outcomes for patients treated on the Eastern Cooperative Oncology Group's Study E3200.

3538 Background: E3200 demonstrated improved survival (OS) for previously treated metastatic colorectal cancer patients who received second-line therapy with bevacizumab (10 mg/kg) in combination with FOLFOX4. Dose reductions of bevacizumab to 5 mg/kg were allowed for: hypertension, bleeding and thrombosis of ≤ grade 2; proteinuria of > 2 grams/24 that resolved to <0.5 grams/24hrs; liver function abnormalities ≥ grade 3 that resolved to ≤ grade 1. METHODS Data on dose modifications of bevacizumab were obtained from a post-study survey of participating institutions for all participants. Median OS and progression-free survival (PFS) were determined based upon a dose reduction any time during treatment. Hazard ratios (HR) for OS and PFS were stratified by number of cycles (1-5, 6-10, 11+) to adjust for the time-varying nature of dose reductions. RESULTS Surveys were received on 84% of E3200 patients treated with bevacizumab. Dose reductions of bevacizumab were performed in 134 of 240 (55.8%) patients treated with FOLFOX + bevacizumab (Arm A) and 77 of 205 (37.6%) patients treated with bevacizumab alone (Arm C). The average number of cycles of bevacizumab administered at a dose reduction for Arm A is 42% and for Arm C is 52%. CONCLUSIONS OS and PFS on E3200 were not compromised for patients who underwent dose reductions of bevacizumab. [Table: see text] [Table: see text].
Option Pricing When the Underlying Asset Earns a Below-Equilibrium Rate of Return: A Note

IN THEIR CLASSIC PAPER, Black and Scholes [2] present two derivations of the European call option pricing formula. The first, which we will refer to as the "replication derivation," relies on the fact that the returns from the option can be replicated by holding a continuously revised position in the underlying asset and bonds. This implies that if an option is not priced according to the BlackScholes formula, there is a sure profit to be made by some combination of either short or long sales of the option and underlying asset. This argument is seemingly independent of considerations relating to capital market equilibrium. The second derivation, which we will call the "equilibrium derivation," evolves from the requirement that the option earn an expected rate of return commensurate with the risk involved in holding the option as an asset. This note considers the pricing of a call option on an asset which earns an expected rate of return lower than that necessary to induce investors to hold it. We show in this case that even if the replication strategy is feasible, it is inefficient. A consequence of this is that the correct option pricing formula is different than the Black-Scholes formula. Unlike the Black-Scholes formula, our formula requires as an input the difference between the expected rate of return on the underlying asset and that expected rate of return which would be required to induce holding of the asset. Other papers have made a similar point. Constantinides [3] and Cox et al. [4] have argued that in equilibrium the prices of traded contingent claims must satisfy a partial differential equation which is identical to the Black-Scholes partial differential equation only when the underlying asset pays no dividends and earns a rate of return sufficient to induce holding of the asset. More recently, Ingersoll [5] has noted that commodities often pay a nonpecuniary service yield, the value of which must be taken into account in deriving the option price. None of these authors, however, explain why the Black-Scholes formula is sometimes inappropriate. The purpose of this note is to demonstrate why the Black-Scholes formula needs modification even if replication is feasible. We provide an intuitive derivation of the correct formula and discuss why divergences of the equilibrium price from the Black-Scholes formula do not result in arbitrage opportunities.
[Factors affecting breastfeeding rate and duration].

OBJECTIVES The purpose of this study is to examine the factors affecting the rate and duration of breastfeeding. METHODS We analyzed the data from the year 2000 Korea National Fertility Survey that was collected through direct interviews. In particular, the mothers who delivered their last child and the child was under 1 year of age from January 1998 to June 2000 (N=1,066) were analyzed via a logistic model to assess the factors affecting the breastfeeding rate. Among the study subjects, those who had initiated breastfeeding (N=740) were analyzed through Cox's proportional hazard model to evaluate the factors affecting the duration of breastfeeding. RESULTS The multivariate logistic model showed that the delivery type and the baby's birth-weight have a statistically significant influence on the breastfeeding rate. Women who delivered their babies through Cesarean section were less likely than others to breastfeed. In contrast, the women whose babies weighed 2.5 Kg or more were more likely than others to breastfeed. The results obtained from the survival analysis are as follows : the higher the mother's education level, the shorter is the breastfeeding duration. The mother's work status played a significant role in the early termination of breastfeeding. Women aged 35 or older showed a longer breastfeeding duration than the younger age groups, whereas the maternal age was not a significant factor in affecting whether or not a mother would breastfeed. CONCLUSIONS Reducing the cases of operative delivery (Cesarean section) and low weight births, enlightening young and highly educated women on breastfeeding and improving the environment for breastfeeding on the job are important strategies to encourage women to breastfeed.
Effect of foreign ownership on cost of borrowing: Evidence from small and medium-sized enterprises in China

This article draws upon a sample of more than 27,000 Chinese small and medium-sized enterprises (SMEs) to explore whether and how foreign equity investment in local SMEs affects the cost of debt. The results show that foreign ownership lowers the cost of borrowing for Chinese SMEs, and that this effect is stronger in more developed provinces. These findings contribute to evidence regarding the halo effect of foreign direct investment in emerging markets. This study also expands pecking order theory by demonstrating the signalling effect of equity structure characteristics on debt financing.
The rise in global demand for ethanol and poverty in Brazil

Brazil has traditionally been one of the most important sugarcane and ethanol producers in the world producing fuel ethanol on a large scale starting since 1975. In the 1990s, however, competition for resources from the sugar producers led to a rationing of ethanol and a decline in consumption. This lasted until 2003, when the scenario changed substantially. Technological developments in the auto industry and the increase in global oil prices granted new status to ethanol as an alternative to gasoline in Brazil. Consumers were now able to choose their fuel according to prices and forecasts point to ethanol demand to reach 73% of the national demand for liquid fuels by 2017. Ethanol exports are also expected to double by this date. While several studies have looked at the supply and demand scenarios for the ethanol and sugarcane expansion in Brazil, the social effects of this change require more attention. The technology used in sugarcane production differs significantly across Brazil's regions, as does the structure of land ownership. This suggests that the pattern of sugarcane expansion will have a large effect on income and wealth distribution. This study aims to identify the effects of the projected sugarcane and ethanol expansion in Brazil on labor demand, income distribution and poverty. Using a General Equilibrium framework an micro simulations, this paper evaluates the changes in labor demand in the agricultural sectors and in the economy as a whole. The study also analizes the effect of the changes in labor markets on income distribution and poverty. Model results show that the expansion in ethanol demand in Brazil would slightly reduce poverty but would increase the poverty gap. Income distribution improves very little due to more capital-intensive methods of production. This raises several points for policy considerations.
What's so Special about Inflation Targeting? A Comparative Analysis of Recent Canadian and US Monetary Policy Frameworks

In the early 1990s, Canada was one of several countries to adopt an inflation-targeting framework for monetary policy. A noted exception to this group was the United States, where the framework for monetary policy was, as it had been for some time, informed by a dual mandate to maintain both high employment and low and stable inflation. By the late 1990s, the United States seemed to settle, in effect, on an implicit inflation-targeting framework for monetary policy. Nevertheless, whether the preferences of each central bank actually shifted toward minimizing inflation variability, and whether the magnitudes, opportunity costs, and timing of any such shifts were the same for both economies are questions that remain largely unexplored. In this article, I estimate these preferences from 1970 to 2009. Taken together, my results indicate that the Bank of Canada was more inflation averse overall; and both central banks grew more inflation averse over time.
Technical Progres and Wage Dispersion in Italy: Evidence from Firm's Data

In this paper we test for the effect of technological progress on the labour demand and relative earnings by skill in Italy from 1986 to 1990. We consider a large panel of firms, about 36,000: the data allow us to construct a proxy of the use of new technology by each firm. Our main conclusions are that: (i) wage dispersion in Italy did not increase by the same extent as in the US and UK; (ii) technological progress led to a remarkable increase in the employment of skilled (captured in our data by white-collars) vis-a-vis blue-collar workers. However relative earnings did not experience a similar rise. We suggest that both a shift in the supply of skills and the features of the Italian wage bargaining system counteracted the rise in earnings dispersion.
[Morbidity and mortality risk factors in patients with ileal typhoid perforation].

OBJECTIVES To determine the risk factors, morbidity and mortality rates and the types of postoperative complications in patients undergoing surgery for ileal typhoid perforation. MATERIAL AND METHODS This retrospective study evaluated 126 patients with anatomohistological diagnosis of ileal typhoid perforation treated at the Belen Hospital, Trujillo, Peru between 1966 and 2000. RESULTS The average age of the total series was of 21.39 + 13.4 years (range 1 to 57 years); of which, 97 (76.98%) were male and 29 (23.02%) women (proportion M:F, 3.3:1). By means of univariate analysis, the morbidity was related with the absence of previous medical treatment (p = 0.035). The mortality was associated to time of perforation exceeding 48 hours (p = 00001); digestive hemorrhages (p = 0.003), leukocyte count (p = 0.021) fecaloid peritoneal secretion (p = 0.007) number of perforations (p = 0.001) and the surgical technique, that presented major mortality was the resection and ileostomy (48.3%; p = 0.001). The group of patients that presented post-surgical complications was 80.16%, of which 19.8% of them died. The most frequent complications were wound infections (67.3%) and sepsis (27.7%). In the multivariate analysis two parameters were evidenced in relation to morbidity: previous medical treatment (p < 0.05; OR = 2.9) and number of perforations (p = 0.01; OR = 6.4). With regard to mortality the significant statistical parameters were: low digestive hemorrhages (p = 0.02; OR = 11.4) leukocyte count (p < 0.008; OR = 7.9) type of operation (p = 0.03; OR = 1.8) peritoneal secretion (p < 0.04; OR = 3.02) and number of perforations (p = 0.008; OR = 4.6). CONCLUSIONS The risk factors identified in the present series can be useful to elaborate a risk scale to predict a small, moderate or greater probability of complications and postoperative mortality.