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2014

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Articles 841 - 870 of 18482

Full-Text Articles in Social and Behavioral Sciences

A Librarian As A Managing Editor, Erin E. Rushton Dec 2014

A Librarian As A Managing Editor, Erin E. Rushton

Library Scholarship

Four years ago, Binghamton University Libraries was presented with an unique proposal. The School of Nursing was planning to take ownership of the OA journal,Online Journal of Rural Nursing and Health Care, and the new editor asked if the Libraries would assist with the editorial and managerial process. Erin Rushton, Web Services and Nursing Librarian, was named Managing Editor. She helps support the publishing system and prepares the pdfs for publication. She also ensures the journal is indexed and preserved in the Libraries’ preservation system. Many research libraries support alternative publication models through membership and through scholarly communications …


China's Concept Of Military Strategy, Timothy Thomas Dec 2014

China's Concept Of Military Strategy, Timothy Thomas

The US Army War College Quarterly: Parameters

No abstract provided.


The Us Army's Domestic Strategy 1945-1965, Thomas Crosbie Dec 2014

The Us Army's Domestic Strategy 1945-1965, Thomas Crosbie

The US Army War College Quarterly: Parameters

No abstract provided.


American "Declinism": A Review Of Recent Literature, Michael Daniels Dec 2014

American "Declinism": A Review Of Recent Literature, Michael Daniels

The US Army War College Quarterly: Parameters

No abstract provided.


Battlefield Euthanasia: Should Mercy-Killings Be Allowed, David L. Perry Dec 2014

Battlefield Euthanasia: Should Mercy-Killings Be Allowed, David L. Perry

The US Army War College Quarterly: Parameters

No abstract provided.


China's Military Mercantilism, Christopher Bowen Johnston Dec 2014

China's Military Mercantilism, Christopher Bowen Johnston

The US Army War College Quarterly: Parameters

No abstract provided.


From The Editor, Antulio J. Echevarria Ii Dec 2014

From The Editor, Antulio J. Echevarria Ii

The US Army War College Quarterly: Parameters

No abstract provided.


Commentaries And Replies 1, Usawc Press Dec 2014

Commentaries And Replies 1, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.


Commentaries And Replies 2, Usawc Press Dec 2014

Commentaries And Replies 2, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.


Macroeconomic Trillema And Monetary Policy In Nigeria, Moses K. Tule Dec 2014

Macroeconomic Trillema And Monetary Policy In Nigeria, Moses K. Tule

Bullion

The paper explores how the macroeconomic trilemma influences monetary Policy choices and action in practical terms. Section 1 is the introduction, section 2 examines in greater details key conceptual issues. After it a review of the historical epochs of the trilemma, followed by contemporary country experiences in managing the trilemma. Section five examines the challenges of the trilemma in Nigeria while the last section concludes the paper.


Financial System Stability And The Payment System., Olubukola Akinniyi Akinwunmi Dec 2014

Financial System Stability And The Payment System., Olubukola Akinniyi Akinwunmi

Bullion

This article reviews the relationship between payments system and financial stability. lt explores the risks within the payments system and how they impact on financial system stability. Emerging issues in the payments system were highlighted and implications for the financial system stability were examined. The article also proposes sets of payments system indicators that may be adopted within the financial system stability analysis and policy making.


Rethinking Sovereign Wealth Fund In A Global Perspective - Lessons For Nigeria, Muhammad A. Abba Dec 2014

Rethinking Sovereign Wealth Fund In A Global Perspective - Lessons For Nigeria, Muhammad A. Abba

Bullion

The study explores the the global rise in the operation of sovereign wealth funds in a number of commodity and non commodity exporting counties has been of tremendous magnitude. The fact that, most, if not all the oil exporting countries of the world today have SWF clearly confirms the many benefits of having a sovereign wealth fund. Section two of the paper provides a brief review of literature. Section three discusses the rationale for SWFs with some stylized facts. The impact of SWFs on the economy is discussed in section four, section five discusses the significance of SWFs while, an …


Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili Dec 2014

Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili

Bullion

The paper looks at the basic concepts in GDP compilation and the computational processes for the rebased GDP. The paper is structured into four sections. The first section deals with the introduction while section two explains some basic concepts and mathematics for GDP compilation. Section three takes a look at the GDP Rebasing while section four deals with the Recent Development from the rebasing exercise.


Issues In Central Bank Communication, Williams D. Kareem Dec 2014

Issues In Central Bank Communication, Williams D. Kareem

Bullion

This article examines salient issues in communication which is a key aspect of Central Banking. Although, the value of communication has been hitherto ignored, it has become evident over time that, for a central bank to succeed in achieving its set objectives and mandates, it must put in place effective and efficient mechanisms needed in crafting, and disseminating information about its policies. The ability of the central banks to identify their stakeholders and address their unique communication needs will enable them to earn the trust of their stakeholders and portray them as transparent and accountable entities.


Siemens Industry Software Pte Ltd V Lion Global Offshore Pte Ltd [2014] Sghc 251: Further Issues In Contractual Formation And Duress, Yihan Goh Dec 2014

Siemens Industry Software Pte Ltd V Lion Global Offshore Pte Ltd [2014] Sghc 251: Further Issues In Contractual Formation And Duress, Yihan Goh

Research Collection Yong Pung How School Of Law

For a second time in a month, the High Court decision of Siemens Industry Software Pte Ltd v Lion Global Offshore Pte Ltd [2014] SGHC 251 (“Siemens Industry Software”) gives us valuable guidance on the application of trite principles of contractual formation to a practical fact pattern. The case also discussed whether enforcing one’s legal right can ever amount to duress.


A Simple Adjustment For Bandwidth Snooping, Timothy B. Armstrong, Michal Kolesár Dec 2014

A Simple Adjustment For Bandwidth Snooping, Timothy B. Armstrong, Michal Kolesár

Cowles Foundation Discussion Papers

Kernel-based estimators are often evaluated at multiple bandwidths as a form of sensitivity analysis. However, if in the reported results, a researcher selects the bandwidth based on this analysis, the associated confidence intervals may not have correct coverage, even if the estimator is unbiased. This paper proposes a simple adjustment that gives correct coverage in such situations: replace the Normal quantile with a critical value that depends only on the kernel and ratio of the maximum and minimum bandwidths the researcher has entertained. We tabulate these critical values and quantify the loss in coverage for conventional confidence intervals. For a …


A Simple Adjustment For Bandwidth Snooping, Timothy B. Armstrong, Michal Kolesár Dec 2014

A Simple Adjustment For Bandwidth Snooping, Timothy B. Armstrong, Michal Kolesár

Cowles Foundation Discussion Papers

>Kernel-based estimators are often evaluated at multiple bandwidths as a form of sensitivity analysis. However, if in the reported results, a researcher selects the bandwidth based on this analysis, the associated confidence intervals may not have correct coverage, even if the estimator is unbiased. This paper proposes a simple adjustment that gives correct coverage in such situations: replace the normal quantile with a critical value that depends only on the kernel and ratio of the maximum and minimum bandwidths the researcher has entertained. We tabulate these critical values and quantify the loss in coverage for conventional confidence intervals. For a …


A Simple Adjustment For Bandwidth Snooping, Timothy B. Armstrong, Michal Kolesár Dec 2014

A Simple Adjustment For Bandwidth Snooping, Timothy B. Armstrong, Michal Kolesár

Cowles Foundation Discussion Papers

Kernel-based estimators such as local polynomial estimators in regression discontinuity designs are often evaluated at multiple bandwidths as a form of sensitivity analysis. However, if in the reported results, a researcher selects the bandwidth based on this analysis, the associated confidence intervals may not have correct coverage, even if the estimator is unbiased. This paper proposes a simple adjustment that gives correct coverage in such situations: replace the normal quantile with a critical value that depends only on the kernel and ratio of the maximum and minimum bandwidths the researcher has entertained. We tabulate these critical values and quantify the …


Threshold Regression With Endogeneity, Ping Yu, Peter C.B. Phillips Dec 2014

Threshold Regression With Endogeneity, Ping Yu, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper studies estimation and specification testing in threshold regression with endogeneity. Three key results differ from those in regular models. First, both the threshold point and the threshold effect parameters are shown to be identified without the need for instrumentation. Second, in partially linear threshold models, both parametric and nonparametric components rely on the same data, which prima facie suggests identification failure. But, as shown here, the discontinuity structure of the threshold itself supplies identifying information for the parametric coefficients without the need for extra randomness in the regressors. Third, instrumentation plays different roles in the estimation of the …


True Limit Distributions Of The Anderson-Hsiao Iv Estimators In Panel Autoregression, Peter C.B. Phillips, Chirok Han Dec 2014

True Limit Distributions Of The Anderson-Hsiao Iv Estimators In Panel Autoregression, Peter C.B. Phillips, Chirok Han

Cowles Foundation Discussion Papers

This note derives the correct limit distributions of the Anderson Hsiao (1981) levels and differences instrumental variable estimators, provides comparisons showing that the levels IV estimator has uniformly smaller variance asymptotically as the cross section ( n ) and time series ( T ) sample sizes tend to infinity, and compares these results with those of the first difference least squares (FDLS) estimator.


Weak Convergence To Stochastic Integrals For Econometric Applications, Hanying Liang, Peter C.B. Phillips, Hanchao Wang, Qiying Wang Dec 2014

Weak Convergence To Stochastic Integrals For Econometric Applications, Hanying Liang, Peter C.B. Phillips, Hanchao Wang, Qiying Wang

Cowles Foundation Discussion Papers

Limit theory involving stochastic integrals is now widespread in time series econometrics and relies on a few key results on function space weak convergence. In establishing weak convergence of sample covariances to stochastic integrals, the literature commonly uses martingale and semimartingale structures. While these structures have wide relevance, many applications in econometrics involve a cointegration framework where endogeneity and nonlinearity play a major role and lead to complications in the limit theory. This paper explores weak convergence limit theory to stochastic integral functionals in such settings. We use a novel decomposition of sample covariances of functions of I(1) and I(0) …


A Note On Minimax Testing And Confidence Intervals In Moment Inequality Models, Timothy B. Armstrong Dec 2014

A Note On Minimax Testing And Confidence Intervals In Moment Inequality Models, Timothy B. Armstrong

Cowles Foundation Discussion Papers

This note uses a simple example to show how moment inequality models used in the empirical economics literature lead to general minimax relative efficiency comparisons. The main point is that such models involve inference on a low dimensional parameter, which leads naturally to a definition of “distance” that, in full generality, would be arbitrary in minimax testing problems. This definition of distance is justified by the fact that it leads to a duality between minimaxity of confidence intervals and tests, which does not hold for other definitions of distance. Thus, the use of moment inequalities for inference in a low …


Testing Equality Of Covariance Matrices Via Pythagorean Means, Jin Seo Cho, Peter C.B. Phillips Dec 2014

Testing Equality Of Covariance Matrices Via Pythagorean Means, Jin Seo Cho, Peter C.B. Phillips

Cowles Foundation Discussion Papers

We provide a new test for equality of covariance matrices that leads to a convenient mechanism for testing specification using the information matrix equality. The test relies on a new characterization of equality between two k dimensional positive-definite matrices A and B : the traces of AB –1 and BA –1 are equal to k if and only if A = B . Using this criterion, we introduce a class of omnibus test statistics for equality of covariance matrices and examine their null, local, and global approximations under some mild regularity conditions. Monte Carlo experiments are conducted to explore the …


Wealth Effects On World Private Financial Saving, Ray C. Fair Dec 2014

Wealth Effects On World Private Financial Saving, Ray C. Fair

Cowles Foundation Discussion Papers

This paper shows that about 70 percent of the variance of the yearly change in the world private financial saving rate can be explained by lagged changes in world stock and housing prices for the sample period 1982-2013. The results suggest that increased fluctuations in asset prices since 1995 have led to increased fluctuations in the world private financial saving rate. Wealth effects on private demand appear to be large.


Economic And Emissions Impacts Of A Clean Air Tax Or Fee In Oregon (Sb306), Jenny H. Liu, Jeff Renfro, Christopher Butenhoff, Mike Paruszkiewicz Dec 2014

Economic And Emissions Impacts Of A Clean Air Tax Or Fee In Oregon (Sb306), Jenny H. Liu, Jeff Renfro, Christopher Butenhoff, Mike Paruszkiewicz

Northwest Economic Research Center Publications and Reports

Analysis on how a carbon pricing policy would affect different Oregon industry sectors and regions.


Focusing On The Negative: Cultural Differences In Expressions Of Sympathy, Birgit Koopmann-Holm, Jeanne L. Tsai Dec 2014

Focusing On The Negative: Cultural Differences In Expressions Of Sympathy, Birgit Koopmann-Holm, Jeanne L. Tsai

Psychology

Feeling concern about the suffering of others is considered a basic human response, and yet we know surprisingly little about the cultural factors that shape how people respond to the suffering of another person. To this end, we conducted 4 studies that tested the hypothesis that American expressions of sympathy focus on the negative less and positive more than German expressions of sympathy, in part because Americans want to avoid negative states more than Germans do. In Study 1, we demonstrate that American sympathy cards contain less negative and more positive content than German sympathy cards. In Study 2, we …


A Simple Adjustment For Bandwidth Snooping, Timothy B. Armstrong, Michal Kolesár Dec 2014

A Simple Adjustment For Bandwidth Snooping, Timothy B. Armstrong, Michal Kolesár

Cowles Foundation Discussion Papers

Kernel-based estimators are often evaluated at multiple bandwidths as a form of sensitivity analysis. However, if in the reported results, a researcher selects the bandwidth based on this analysis, the associated confidence intervals may not have correct coverage, even if the estimator is unbiased. This paper proposes a simple adjustment that gives correct coverage in such situations: replace the Normal quantile with a critical value that depends only on the kernel and ratio of the maximum and minimum bandwidths the researcher has entertained. We tabulate these critical values and quantify the loss in coverage for conventional confidence intervals. For a …


Dynamic Panel Gmm With Near Unity, Peter C.B. Phillips Dec 2014

Dynamic Panel Gmm With Near Unity, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Limit theory is developed for the dynamic panel GMM estimator in the presence of an autoregressive root near unity. In the unit root case, Anderson-Hsiao lagged variable instruments satisfy orthogonality conditions but are well-known to be irrelevant. For a fixed time series sample size (T) GMM is inconsistent and approaches a shifted Cauchy-distributed random variate as the cross section sample size n → ∞. But when T → ∞, either for fixed n or as n → ∞, GMM is √ T consistent and its limit distribution is a ratio of random variables that converges to twice a standard Cauchy …


A Multivariate Stochastic Unit Root Model With An Application To Derivative Pricing, Offer Lieberman, Peter C.B. Phillips Dec 2014

A Multivariate Stochastic Unit Root Model With An Application To Derivative Pricing, Offer Lieberman, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper extends recent findings of Lieberman and Phillips (2014) on stochastic unit root (SUR) models to a multivariate case including a comprehensive asymptotic theory for estimation of the model’s parameters. The extensions are useful because they lead to a generalization of the Black-Scholes formula for derivative pricing. In place of the standard assumption that the price process follows a geometric Brownian motion, we derive a new form of the Black-Scholes equation that allows for a multivariate time varying coefficient element in the price equation. The corresponding formula for the value of a European-type call option is obtained and shown …


Identifying Latent Structures In Panel Data, Liangjun Su, Zhentao Shi, Peter C.B. Phillips Dec 2014

Identifying Latent Structures In Panel Data, Liangjun Su, Zhentao Shi, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper provides a novel mechanism for identifying and estimating latent group structures in panel data using penalized regression techniques. We focus on linear models where the slope parameters are heterogeneous across groups but homogenous within a group and the group membership is unknown. Two approaches are considered — penalized least squares (PLS) for models without endogenous regressors, and penalized GMM (PGMM) for models with endogeneity. In both cases we develop a new variant of Lasso called classifier-Lasso (C-Lasso) that serves to shrink individual coefficients to the unknown group-specific coefficients. C-Lasso achieves simultaneous classification and consistent estimation in a single …