Miracle-dz/UniFAR-FTUs huggingface dataset:
Term Structure of Interest Rates, Yield Curve Residuals, and the Consistent Pricing of Interest Rate Derivatives

Dynamic term structure models price interest rate options based on the model-implied fair values of the yield curve, ignoring any pricing residuals on the yield curve that are either from model approximations or market imperfections. In contrast, option pricing in practice often takes the market observed yield curve as given and focuses exclusively on the specification of the volatility structure of forward rates. Thus, if any errors exist on the observed yield curve, they will be carried over permanently. In this paper, we propose an m+n model structure that bridges the gap between the two approaches and consistently prices both interest rates and interest rate options. The first m factors capture the systematic movement of the yield curve, whereas the latter n factors capture the impacts of the yield curve residuals on option pricing. We estimate a 3+3 Gaussian affine example using eight years of data on U.S. dollar LIBOR, swap rates, and interest rate caps. The model performs well in pricing both interest rates and interest rate caps. Furthermore, estimation shows that small residuals on the yield curve can have large impacts on pricing interest rate caps. Under the estimated model, the three yield curve factors explain over 99 percent of the variation on the yield curve, but account for less than 50 percent of the variation on cap implied volatilities. Incorporating the three residual factors improves the explained variance on cap implied volatility to over 99 percent.
The Economics of Federal Compensation

The problem investigated in this paper is the economic interpretation of federal wages comparability laws. We show that estimating wages differentials to test whether federal wages comport with the law is more complex than typically treated in the literature. Although the issue is largely one of the econometric interpretation, it addresses the central question of which private sector workers should be compared to federal workers. We demonstrate the determining which explanatory variables in the wage regression equation are job-descriptive and which are skill-descriptive defines the comparison group.
The association of maternal food intake and infants' and toddlers' food intake.

BACKGROUND Young children's first experiences with food may influence development of food preferences and lifelong eating habits. However, little is known about what factors are associated with the development of eating behaviours in infants and toddlers. Studies with older children and adolescents suggest that parental food intake is associated with children's food intake. The purpose of the present paper is to determine whether this association starts even earlier during infancy and toddlerhood. METHODS A convenience sample of n= 98 primarily African American mothers of children 6-18 months old completed questionnaires, including questions on their own and their young child's food intake. Mothers completed questions while waiting to be seen by their child's primary care provider. RESULTS Per maternal report, children consumed fruit 2.45 (1.79) times, vegetables 1.63 (1.51) times and snack foods 2.22 (2.49) times each day. Infants' and toddlers' fruit (r= 0.54, P < 0.001), vegetable (r= 0.42, P < 0.001) and snack food (r= 0.37, P < 0.001) intake were significantly associated with maternal intake of each of these foods, respectively. These significant associations remained even after controlling for additional study variables. CONCLUSION Even at very young ages, maternal food intake is an important correlate of children's food intake. Taken together with findings documenting significant snack food consumption in this age group, findings suggest that development of prevention and intervention programmes to enhance healthy eating behaviours need to start very early, perhaps just prior to children being introduced to complementary foods.
International Bond Market Cointegration Using Regime Switching Techniques

This article uses MSCI bond index data to assess the degree of international bond market integration using modern cointegration techniques. Using daily data over a sample period from January 1994 to August 2006 the analysis shows that bond markets are indeed governed by a common long run relation that is subject to periodic structural change. The existence of such a common trend has important implications for both market efficiency and portfolio diversification arguments in favor of international diversification. The analysis adds to the existing literature by employing regime switching techniques to allow for structural change in the long run equilibrium. By allowing for occasional breaks in the central long run relation the analysis provides compelling evidence in favor of international bond market integration. The article shows that the prepayment-default model has significant explanatory power. Using the mortgage loan prices at origination, the model shows that OAS and duration depend on the FICO score, original loan-to-value ratio, the loan size and the recovery ratio. Lastly, a model of the economic value of a loan default guarantee is specified and the model shows that the price elasticities of the guarantee with respect to the loan size and the borrower's FICO score are −0.46 and −11.89 respectively.
CLASSIFICATION AND ARITHMETICITY OF TOROIDAL

We classify the minimum volume smooth complex hyperbolic surfaces that admit smooth toroidal compactifications, and we explicitly construct their compactifications. There are five such surfaces and they are all arithmetic, i.e., they are associated with quotients of the ball by an arithmetic lattice. Moreover, the associated lattices are all commensurable. The first compactification, originally discovered by Hirzebruch, is the blowup of an Abelian surface at one point. The others are bielliptic surfaces blown up at one point. The bielliptic examples are new, and are the first known examples of smooth toroidal compactifications birational to bielliptic surfaces.
Correlation of Change in Fundamental Indicators and Stock Price Movements on Sarajevo Stock Exchange

Fundamental analysis is regarded as one of the key tools in evaluating securities by examining intrinsic value of the business, trough primarily the analysis of its financial statements. Although in the short run, various factors might influence investment sentiment and thus stock price movements, in the long run fundamentals should determine stock price performance. Sarajevo Stock Exchange is a pioneering enterprise in the development of a capital market in Bosnian transition economy. Upon examining stock price movements and trade volumes over its ten year history, it is difficult to argue that high volatility in both factors can be attributed to changes in corporate fundamentals. We can thus argue that irrational or speculative determinants are at play; a discouraging prospect for a developing capital market. In order to investigate the correlation between the change in fundamental indicators and stock price movements, ten major companies listed on the exchange were selected using pre-defined criteria, and key fundamental indicators, as well as stock price volatility was examined for a five year period during which Sarajevo Stock Exchange had highest trade volumes. The results indicate that ratios that are price-independent have volatility ten times lower than ratios that are price-determined. Additionally, stock price analysis indicates high standard deviation; a traditionally accepted measure of volatility and intrayear stock price spreads often reach hundreds of percent. Furthermore, when selected indicators are correlated with stock price movements, the research determined that correlation coefficients are low, sometimes negative, suggesting no linear relationship between the change in fundamental indicators and the change in the price of the security. The result of high-risk high-volatility market situation was a significant decline in value of securities listed on the exchange. This decline led to a loss of confidence of individual investors in the exchange which can be illustrated by low trading volumes in the last few years, usually in the region of 1% to 3% of 2007 levels. The exchange thus is incapable of serving most of functions traditionally associated with the business.
PSU Disinvestment in India: Process and Policy–Changing Scenario

Though the public sector in India has occupied a prominent place, it has changed over the years with the initiation of economic reforms and liberalisation measures. Certain enterprises have been categorized as ‘navratna’, some have been included in another category, namely, ‘mini-ratnas’ giving them greater financial and operational autonomy so that these profit-making enterprises are able to operate in a framework that will be ‘depoliticised, deregulated and debureaucratised’.
Wearable location mediated telecommunications; a first step towards contextual communication

Wearable computers provide constant access to computing and communications resources. We describe how the computing power of wearables can enhance computer mediated communications, with a focus upon collaborative working. In particular we describe the ideal of contextual communications, where contextual cues collected by the wearable computer are used to establish and enhance communication links. We describe the hardware and software technology we have developed to support contextual communication and two experimental contextual communication systems. The first, a wearable conferencing tool uses the user's physical location to select the online conference which they connect to. The second, MetaPark, is a mixed reality educational experiment which explores communications, data retrieval and recording, and navigation techniques within and across real and virtual environments.
Cognitive leisure activities, but not watching TV, for future brain benefits

Loss of cognition is a common and feared neurologic problem of old age. Up to 10% of older persons have dementia,1 and at least 10% more have mild cognitive impairment (MCI). 2 This number with impaired cognition will increase markedly in the coming decades.1 The large and growing public health burden of cognitive impairment would best be ameliorated by the identification of modifiable risk factors for dementia and MCI.3 Engagement in cognitively stimulating leisure activities has recently been reported to reduce the risk of Alzheimer disease (AD) and to be associated with a slower rate of cognitive decline.4–9 These studies have been conducted primarily in the United States and Western Europe. In this issue of Neurology , the association between engagement in cognitively stimulating leisure activities and cognitive impairment has been extended to include risk of incident MCI, and risk of cognitive impairment in a population-based study in China.10,11 Verghese et al.10 examined risk of incident amnestic MCI in the Bronx Aging Study. The Bronx Aging Study is a prospective cohort of 437 community-residing individuals older than 75 years who were initially free of dementia or amnestic MCI. In this study, subjects were interviewed about frequency of participation in 6 cognitive activities and 10 physical activities from which composite scores were derived. Over more than 5 years of follow-up, more than 50 persons developed …
El efecto del capital humano sobre la innovación: Un análisis desde las perspectivas cuantitativa y cualitativa de la educación

Purpose: This research attempts to determine, empirically and for a large sample of countries, which kind of educational variables can better explain technological innovation processes, approximated by the number of patents per capita. To do this, we use a model that explains the innovative capacity of the countries employing six educational variables: two quantitative variables –average (total and university) years of schooling- and four qualitative variables -based on outcomes of different international tests of knowledge-. Design/methodology: The analysis is carried out for a sample that includes more than 60 countries, using cross-section techniques for the decade 2000-2010. Findings: From the econometric results we conclude that technological innovation, proxied by the number of patents per capita, is explained better by the quality of education than by the quantity of education. Innovative activity is strongly linked to success in terms of educational skills, the type of skills acquired and educational excellency. Furthermore, the interaction between educational quality and quantity is a key factor. When we introduce the cross effects of both variables, the proposed model yields to a greater explanatory power. Originality/value: The traditional perspective on human capital literature uses indicators based on the quantity of education, usually average years of schooling. This study incorporates indicators based on skills, measured by the results of international tests of knowledge. The introduction of the dual perspective, quantitative and qualitative, to measure human capital and to determine what kind of indicators explains better innovation, is an outstanding novelty.
A meta-analysis of disclosure of one's HIV-positive status, stigma and social support

Abstract This study provides an analysis of the relationships among perceived stigma, reported disclosure and perceived social support for those living with HIV. The meta-analytic summary of 21 studies (4104 participants) showed, as predicted, a positive, heterogeneous correlation between disclosure and social support (ŕ=.159), a negative, heterogeneous correlation between stigma and social support (ŕ=−.344) and a negative, homogenous correlation between stigma and disclosure (ŕ=−.189). The heterogeneity of the first two relationships indicates the presence of moderators, which may include participants’ age and publications’ year.
Plasma nitrate/nitrite concentrations in dogs with naturally developing sepsis and non-infectious forms of the systemic inflammatory response syndrome

The aim of this prospective observational study was to evaluate the differences in plasma nitrate/nitrite concentrations between dogs with sepsis and those with non-infectious forms of the systemic inflammatory response syndrome (SIRS). Eighteen dogs with sepsis, 20 dogs with SIRS and 29 healthy control dogs were enrolled. Blood samples were obtained from the dogs within 12 hours of admission to the University of Missouri Veterinary Medical Teaching Hospital (MU VMTH) Intensive Care Unit (ICU) in lithium heparin blood tubes. Plasma nitrate/nitrite concentrations were measured using the Greiss reaction. Plasma nitrate/nitrite concentrations at presentation, clinical parameters, organ dysfunction and in-hospital mortality were compared between groups. Plasma total nitrate/nitrite was significantly greater in the sepsis group compared with the control group (P=0.005) and SIRS group (P=0.037). There was no statistical difference in plasma nitrate/nitrite concentration between the SIRS and control groups (P=0.489). The sensitivity was 66.7 per cent (95 per cent CI, 41 to 87 per cent) and the specificity was 75.5 per cent (95 per cent CI, 61 to 87 per cent) for differentiating dogs with sepsis from dogs without sepsis.
Into the twenty-first century: North American urban governance and development in a global context

Over the past decade, US urban studies conferences and researchers have spent great energy plotting the future of the discipline. Among those we are most familiar with, the annual meetings of the Urban Affairs Association (UAA) and the urban politics section of the American Political Science Association (APSA) stand out. Panel titles at these meetings often suggest a field fraught with regard to theory and practice. Consider the following panel at the 2009 meeting of the APSA: ‘The Once and Future Study of City Politics: Overcoming the Malaise About Theory’. Two years earlier, in Chicago, APSA hosted a similar panel titled ‘Reflections on the Urban Politics Field: A Next Generation of Voices’. Similar panel titles can be found at the more interdisciplinary UAA meetings as well; for example, ‘New Directions in Critical Urban Studies’ in 2008 and annual panels on new ways of studying the city in various contexts. The implication of these panels is that urban theory, and more specifically, theory applying to power and politics in US cities, is at a crossroads – a point at which past research is celebrated while contemporary scholars seem constantly in search of the next ‘big idea’. While not exactly lost, the study of cities, according to these panels, is, at best, soul-searching. Complicating this further, or perhaps bringing about the identity crisis to begin with, a series of papers were published in the mid-2000s that questioned the intent and rigor of the study of US urban politics (Judd 2005; Sapotichne, Jones, and Wolfe 2007; Sharp 2007). Judd’s (2005) take on North American urban studies at the time was that it had become overly pessimistic toward the state of US cities and needed to expand its horizons with regard to method, ideology, and content. Sapotichne, Jones, and Wolfe (2007) answered with the empirics to back up at least some of Judd’s (2005) claims. Their paper, cleverly titled ‘Is Urban Politics a Black Hole? ’ demonstrated that the theories most often used by urban scholars were rarely cited in other American political science journals and that few American politics scholars seemed to acknowledge the work of urbanists. Elaine Sharp (2007) concurred with the ‘black hole’ scholars that urban politics seemed to be at the ‘periphery’ of American political science when it had once been at its center. The general conclusions of these three pieces were that urban studies, and specifically urban political science, needed to modernize, to look more like ‘mainstream’ social science rather than qualitative contemplation of the state of cities. Not lacking a sense of humor, or perhaps looking to avoid conflict, the conference organizers at the 2009 APSA meeting scheduled a panel simultaneous to the ‘Malaise’ panel titled ‘New Directions in Urban/ Local Politics Research’ featuring two authors from the ‘Black Hole’ paper. There
How does information asymmetry affect the division of gains in mergers

Purpose - The purpose of this paper is to analyze the implications of the target valuation uncertainty on the wealth distribution between the target and acquirer firms in successful mergers. The paper specifically analyzes the division of the total dollar gains between the two parties and also whether the target and/or the acquirer experience a positive/negative gain in mergers when valuation of the target company is more uncertain. Design/methodology/approach - The analyses contrast the implications of the uncertainty in three well-known merger hypotheses; the market-for-corporate-control, hubris and synergy. Findings - The results are supportive of the implications of the synergy hypothesis. As target valuation uncertainty decreases, it is more likely that both parties experience positive gains from the transaction although more of the gains from the merger significantly shift towards the target company. Originality/value - Results suggest that both parties are bargaining on the synergy gains and the target is able to negotiate a greater portion of the synergy gains when the value of the target becomes more predictable.
A Systematic Review of the Effectiveness, Compliance, and Critical Factors for Implementation of Safety Checklists in Surgery

Objective:A systematic literature review was conducted to assess the effectiveness of, compliance with, and critical factors for the implementation of safety checklists in surgery. Background:With the aim of increasing patient safety, checklists have gained growing attention. Information about effectiveness, compliance, and critical factors for implementation is crucial for whether and which of the available instruments to use. Data Sources:Medline including Premedline (OvidSP), Embase, and Cochrane Collaboration Library, hand search, a search of reference lists of key articles, and tables of content. Study Selection:Electronic databases returned 4997 citations, of which 84 articles were chosen for full-text review. Finally, 22 articles were included in this review. Data Extraction:Data relating to care setting, study methods and design, sample population, survey response rate, type of checklist, aim, effectiveness, compliance, attitudes, and critical factors were extracted from the studies. A random effects meta-analysis of effectiveness data was conducted if 2 or more studies reported a specified outcome. Results:With the use of checklists, the relative risk for mortality is 0.57 [95% confidence interval (CI): 0.42–0.76] and for any complications 0.63 (95% CI: 0.58–0.67). The overall compliance rate ranged from 12% to 100% (mean: 75%) and for the Time Out from 70% to 100% (mean: 91%). Conclusions:Checklists are effective and economic tools that decrease mortality and morbidity. Compliance of surgical staff with checklists was good overall. Further research in particular relating to implementation is needed.
Genetic Algorithm Based Feature Selection In a Recognition Scheme Using Adaptive Neuro Fuzzy Techniques

The problem of feature selection consists of finding a significant feature subset of input training as well as test patterns that enable to describe all information required to classify a particular pattern. In present paper we focus in this particular problem which plays a key role in machine learning problems. In fact, before building a model for feature selection, our goal is to identify and to reject the features that degrade the classification performance of a classifier. This is especially true when the available input feature space is very large, and need exists to develop an efficient searching algorithm to combine these features spaces to a few significant one which are capable to represent that particular class. Presently, authors have described two approaches for combining the large feature spaces to efficient numbers using Genetic Algorithm and Fuzzy Clustering techniques. Finally the classification of patterns has been achieved using adaptive neuro-fuzzy techniques. The aim of entire work is to implement the recognition scheme for classification of tumor lesions appearing in human brain as space occupying lesions identified by CT and MR images. A part of the work has been presented in this paper. The proposed model indicates a promising direction for adaptation in a changing environment.
The Tractable 'Quadratic' Class of Growth and Interest Rate Processes

We propose a new class of growth and interest rate processes with appealing properties for the paper-and-pencil theorist. It yields simple closed-form solutions for stocks, bonds, and perpetuities, and can accommodate an arbitrary number of factors. Expressions are linear in the state variables, such as the interest rate, the equity premium and the stock's growth rate. Surprisingly, one can change the volatility of the process, or force the interest rate to be positive, without changing bond prices. The process generalizes to discrete-time settings, and has a number of economic modeling applications. These include (i) macroeconomic situations with changing trend growth rates, (ii) asset pricing with time-varying risk premia or time-varying dividend growth rates, and (iii) yield curve analysis that allows flexibility and transparency.