100 research outputs found
An Assessment of the UKâs Trade with Developing Countries under the Generalised System of Preferences
The European Union (EU) Generalised System of Preferences (GSP Scheme) grants preferential treatment to 88 eligible countries. There are, however, concerns that the restrictive features (such as Rules of Origin, Low Preference Margin and Low Coverage) of the existing scheme indicate gravitation towards commercial trade agenda to which efficiency imperatives appear subordinated. Whether these concerns are genuine is an empirical question whose answer largely determines whether, after Brexit, the UK continues with the existing specifics of the EU scheme or develops a more inclusive UK-specific GSP framework. This study quantitatively examines the efficiency of the EU GSP as it relates to UK beneficiaries from 2014 to 2017. We draw on the descriptive efficiency estimation (The utilisation Rate, Potential Coverage Rate, and the Utility Rate) using import data across 88 beneficiary countries and agricultural products of the Harmonised System Code Chapter 1 to 24. Asides the Rules of Origin that, generally, harm the uptake of GSP, low preference margin is found to cause low utilisation rates in a non-linear manner. Essentially, a more robust option (such that allows âglobal Cumulationâ or broader product coverage) could, substantially, lower the existing barriers to trade and upsurge the efficiency of the GSP scheme
Preventing mental health problems in children : the families in mind population-based cluster randomised controlled trial.
BackgroundExternalising and internalising problems affect one in seven school-aged children and are the single strongest predictor of mental health problems into early adolescence. As the burden of mental health problems persists globally, childhood prevention of mental health problems is paramount. Prevention can be offered to all children (universal) or to children at risk of developing mental health problems (targeted). The relative effectiveness and costs of a targeted only versus combined universal and targeted approach are unknown. This study aims to the effectiveness, costs and uptake of two approaches to early childhood prevention of mental health problems ie: a Combined universal-targeted approach, versus a Targeted only approach, in comparison to current primary care services (Usual care).DesignThree armed, population-level cluster randomised trial (2010-2014) within the universal, well child Maternal Child Health system, attended by more than 80% of families in Victoria, Australia at infant age eight months. Participants: Families of eight month old children from nine participating local government areas. Randomised to one of three groups: Combined, Targeted or Usual care. Intervention: (a) the Combined universal and targeted program where all families are offered the universal Toddlers Without Tears group parenting program followed by the targeted Family Check-Up one-on-one program or (b) the Targeted Family Check-Up program. The Family Check-Up program is only offered to children at risk of behavioural problems. Analysis: Participants will be analysed according to the trial arm to which they were randomised, using logistic and linear regression models to compare primary and secondary outcomes. An economic evaluation (cost consequences analysis) will compare incremental costs to all incremental outcomes from a societal perspective.DiscussionThis trial will inform public health policy by making recommendations about the effectiveness and cost-effectiveness of these early prevention programs. If effective prevention programs can be implemented at the population level, the growing burden of mental health problems could be curbed.<br /
Kant on the Highest Moral-Physical Good: The Social Aspect of Kant's Moral Philosophy
In §88, entitled âOn the highest moral-physical goodâ, in his Anthropology from a Pragmatic Point of View (hereafter Anthropology for short), Kant argues that âgood livingâ (physical good) and âtrue humanityâ (moral good) best harmonize in a âgood meal in good companyâ. The conversation and company shared over a meal, Kant argues, best provides for the âunion of social good living with virtueâ in a way that promotes âtrue humanityâ. This occurs when the inclination to âgood livingâ is not merely kept within the bounds of âthe law of virtueâ but where the two achieve a graceful harmony. As such, it is not to be confused with Kant's well-known account of the âhighest goodâ, happiness in proportion to virtue. But how is it that the humble dinner party and the associated practices of hospitality come to hold such an important, if often unrecognized, place as the highest moral-physical good in Kant's thought? This question is in need of further investigation. Of the most recent studies in English that have taken seriously the importance of Kant's Anthropology for understanding his wider moral philosophy, very few have considered §88 in any depth. This paper aims to help bridge this signifcant gap in the literature.36 page(s
Intercomparison of NO2, O4, O3 and HCHO slant column measurements by MAX-DOAS and zenith-sky UVÂżvisible spectrometers during CINDI-2
40 pags., 22 figs., 13 tabs.In September 2016, 36 spectrometers from 24 institutes measured a number of key atmospheric pollutants for a period of 17¿d during the Second Cabauw Intercomparison campaign for Nitrogen Dioxide measuring Instruments (CINDI-2) that took place at Cabauw, the Netherlands (51.97¿¿N, 4.93¿¿E). We report on the outcome of the formal semi-blind intercomparison exercise, which was held under the umbrella of the Network for the Detection of Atmospheric Composition Change (NDACC) and the European Space Agency (ESA). The three major goals of CINDI-2 were (1) to characterise and better understand the differences between a large number of multi-axis differential optical absorption spectroscopy (MAX-DOAS) and zenith-sky DOAS instruments and analysis methods, (2) to define a robust methodology for performance assessment of all participating instruments, and (3) to contribute to a harmonisation of the measurement settings and retrieval methods. This, in turn, creates the capability to produce consistent high-quality ground-based data sets, which are an essential requirement to generate reliable long-term measurement time series suitable for trend analysis and satellite data validation.
The data products investigated during the semi-blind intercomparison are slant columns of nitrogen dioxide (NO2), the oxygen collision complex (O4) and ozone (O3) measured in the UV and visible wavelength region, formaldehyde (HCHO) in the UV spectral region, and NO2 in an additional (smaller) wavelength range in the visible region. The campaign design and implementation processes are discussed in detail including the measurement protocol, calibration procedures and slant column retrieval settings. Strong emphasis was put on the careful alignment and synchronisation of the measurement systems, resulting in a unique set of measurements made under highly comparable air mass conditions.
The CINDI-2 data sets were investigated using a regression analysis of the slant columns measured by each instrument and for each of the target data products. The slope and intercept of the regression analysis respectively quantify the mean systematic bias and offset of the individual data sets against the selected reference (which is obtained from the median of either all data sets or a subset), and the rms error provides an estimate of the measurement noise or dispersion. These three criteria are examined and for each of the parameters and each of the data products, performance thresholds are set and applied to all the measurements. The approach presented here has been developed based on heritage from previous intercomparison exercises. It introduces a quantitative assessment of the consistency between all the participating instruments for the MAX-DOAS and zenith-sky DOAS techniques.CINDI-2 received funding from the Netherlands Space Office (NSO). Funding for this study was provided
by ESA through the CINDI-2 (ESA contract no. 4000118533/16/ISbo) and FRM4DOAS (ESA contract no. 4000118181/16/I-EF)
projects and partly within the EU 7th Framework Programme
QA4ECV project (grant agreement no. 607405). The BOKU
MAX-DOAS instrument was funded and the participation of Stefan F. Schreier was supported by the Austrian Science Fund
(FWF): I 2296-N29. The participation of the University of Toronto
team was supported by the Canadian Space Agency (through
the AVATARS project) and the Natural Sciences and Engineering Research Council (through the PAHA project). The instrument was primarily funded by the Canada Foundation for Innovation and is usually operated at the Polar Environment Atmospheric Research Laboratory (PEARL) by the Canadian Network
for the Detection of Atmospheric Change (CANDAC). Funding for
CISC was provided by the UVAS (âUltraviolet and Visible Atmospheric Sounderâ) projects SEOSAT/INGENIO, ESP2015-71299-
R, MINECO-FEDER and UE. The activities of the IUP-Heidelberg
were supported by the DFG project RAPSODI (grant no. PL
193/17-1). SAOZ and Mini-SAOZ instruments are supported by the
Centre National de la Recherche Scientifique (CNRS) and the Centre National dâEtudes Spatiales (CNES). INTA recognises support
from the National funding projects HELADO (CTM2013-41311-P) and AVATAR (CGL2014-55230-R). AMOIAP recognises support from the Russian Science Foundation (grant no. 16-17-10275) and the Russian Foundation for Basic Research (grant nos. 16-05-
01062 and 18-35-00682). Ka L. Chan received transnational access funding from ACTRIS-2 (H2020 grant agreement no. 654109).
Rainer Volkamer recognises funding from NASAâs Atmospheric Composition Program (NASA-16-NUP2016-0001) and the US National Science Foundation (award AGS-1620530). Henning Finkenzeller is the recipient of a NASA graduate fellowship. Mihalis Vrekoussis recognises support from the University of Bremen and the DFG Research Center/Cluster of Excellence âThe Ocean in the
Earth System-MARUMâ. Financial support through the University of Bremen Institutional Strategy in the framework of the
DFG Excellence Initiative is gratefully appreciated for Anja Schönhardt. Pandora instrument deployment was supported by Luftblick
through the ESA Pandonia Project and NASA Pandora Project at the Goddard Space Flight Center under NASA Headquartersâ Tropospheric Composition Program. The article processing charges for
this open-access publication were covered by BK Scientific
Monetizing the IoT Revolution
Academics and businesses alike tend to fail at understanding how the IoT revolution is monetized. We outline three main categories of how IoT will impact business models: (a) improved customer matching and tracking of marketing returns, (b) individualized offers and pricing when consumer demand and price elasticities can be identified, and (c) smart device and usage monitoring that allows for outcome-based contracts and servitization. Data convergence creates context-based-intelligence, which enables a shift from using consumer profiles for targeted advertising to individualized offers and pricing. The required depth of both consumer data and understanding of context will require collaborative efforts between companies and blur the lines between industrial- and consumer-IoT applications. Outlining concerns for privacy and cybersecurity, we find that consumer demand for decision-simplicity and relevant content aligns with the business model of âfreeâ services in return for data, despite consumer concerns relating to data collection
Two Essays on Sales of Distressed Real Estate
Abstract As households across large parts of the world are increasingly leveraged, an understanding of the risks and consequences associated with household credit default is of great importance. This thesis consists of two essays with a focus on foreclosed residential properties. More specifically, the market of such sales and the impact on sale price caused by such a sale mechanism as compared to sales on the general market. Research on foreclosed properties is primarily based upon U.S. data; this thesis therefore adds research in an institutional setting having received little previous attention. The first essay is co-authored with Han-Suck Song and Mats Wilhelmsson. A spatial hedonic model is applied on transaction data of apartments and single-family houses sold in Stockholm, Sweden, during the period of 2006 to 2013. Discounts on price of 20.1% and 24.6% are estimated for foreclosed apartments and single-family houses, respectively. Apartments that have been sold due to a lost membership in the housing association to which the apartment belongs are sold at a 29.1% discount. The larger discount is a likely consequence of such sales being restricted in the number of attempted auctions. The second essay applies propensity score matching on transaction data and repeat-sales data of single-family houses sold in Stockholm, Sweden, during the period of 2005 to mid-2014. A 5.2 times higher rate of turnover subsequent of a foreclosure as compared to similar properties sold on the general market indicates that professional buyers are taking advantage of a discount on price. Further support towards that foreclosed properties are sold at a discount is found by estimation of holding period returns. Foreclosed properties are found to experience a 10.7% to 7.6% lower annualized return prior to a foreclosure, during a mean holding period of 4.3 years. Subsequent of a foreclosure, buyers earn a 37.7% to 48.6% higher annualized return, during a mean holding period of 1.2 years, as compared to returns achieved by those having bought similar properties on the general market. As 15.4% of foreclosed properties have been bought by a buyer having bought more than one such property, a lack of competition provides a possible explanation for lower sale prices. 4 Sammanfattning DÄ hushÄll över stora delar av vÀrlden blir allt mer belÄnade, Àr det viktigt att förstÄ riskerna och konsekvenserna av denna utveckling. Denna avhandling bestÄr av tvÄ uppsatser med fokus pÄ exekutivt försÄlda privatbostÀder. Uppsatserna studerar hur marknaden för sÄdana objekt ser ut, och hur försÀljningspriset pÄverkas av en sÄdan försÀljning jÀmfört med försÀljningar pÄ den öppna marknaden. Tidigare forskning pÄ Àmnet Àr framförallt baserad pÄ amerikanska data, denna avhandling bidrar dÀrför med forskning som tar hÀnsyn till institutionella förutsÀttningar som hittills fÄtt en begrÀnsad uppmÀrksamhet. I den andra uppsatsen tillÀmpas propensity score matchning pÄ transaktionsdata och avkastningsdata pÄ smÄhus som sÄlts i Stockholm under perioden mellan 2005 till mitten av 2014. En 5,2 gÄnger högre omsÀttningshastighet efter en exekutiv försÀljning jÀmfört med liknande fastigheter som sÄlts pÄ den öppna marknaden visar att professionella köpare dra nytta av lÀgre priser. Avkastningsdata ger ytterligare stöd för att exekutiva försÀljningar leder till lÀgre priser. Fastigheter som sÄlts exekutivt har en 10,7 % till 7,6 % lÀgre Ärlig avkastning jÀmfört med liknande fastigheter före en exekutiv försÀljning, under en genomsnittlig innehavsperiod pÄ 4,3 Är. Efter en exekutiv försÀljning tjÀnar köpare en 37,7% till 48,6% högre Ärlig avkastning, under en genomsnittlig innehavsperiod pÄ 1,2 Är, jÀmfört med den avkastning som uppnÄs genom köp av liknande fastigheter pÄ den allmÀnna marknaden. Att 15,4 % av de exekutivt försÄlda fastigheterna hade köpts av en köpare som köpt mer Àn ett sÄdant objekt tyder pÄ att bristande konkurrens Àr en möjlig förklaring till lÀgre försÀljningspriser.
Essays on Foreclosures and Housing Debt
This thesis consists of four self-contained essays in the field of real estate economics, and specifically, the market for single-family homes. The first three essays examine sales of foreclosed properties, while essay four is on the conversion process of rental apartments to owner-occupied units in the co-operative form. These topics have a common denominator in the analysis of real estate markets and a link to debt financing. The effect of a foreclosure on price is examined through several methods. In the first essay, a spatial hedonic model is applied on transaction data. In the second essay, the impact on holding-period returns and the rate-of-turnover is estimated through propensity-score matching. Hedonic regressions and appraisal data is used in the third essay, which analyzes the determinants of the price impact caused by a forced sale. The impact of local market conditions is tested and a discount on price is related to the search process among market participants. The second topic of conversions is addressed in essay four, which focuses on an informational asymmetry between tenants involved in the conversion process and other market participants. An incentive to mismanage housing co-operatives financially is examined through hedonic models applied to apartment transaction data. Denna avhandling bestaÌr av fyra sjaÌlvstaÌndiga uppsatser inom omraÌdet fastighetsekonomi, och mer specifikt marknaden foÌr aÌgda bostaÌder. De tre foÌrsta uppsatserna undersoÌker exekutiva foÌrsaÌljningar av bostaÌder medan uppsats fyra undersoÌker processen att ombilda hyresraÌtter till bostadsraÌtter. Dessa tvaÌ teman har gemensamt att fastighetsmarknaden och relationen mellan fastigheter och skuldfinansiering analyseras. Effekten paÌ pris som orsakas av en exekutiv foÌrsaÌljning undersoÌks med flera metoder. I uppsats ett tillaÌmpas en spatial hedonisk modell paÌ transaktionsdata. I den andra uppsatsen undersoÌks den paÌverkan som en exekutiv foÌrsaÌljning har paÌ omsaÌttningshastighet och avkastning genom propensity-score matchning. Hedoniska modeller och data med uppskattade vaÌrden anvaÌnds i uppsats tre, som undersoÌker faktorer som paÌverkar den priseffekt som orsakas av en exekutiv foÌrsaÌljning. PaÌverkan av lokala marknadsfoÌrhaÌllanden testas, och en rabatt relateras till soÌkprocessen hos koÌpare och saÌljare. Det andra temat i denna avhandling behandlas i uppsats fyra som har fokus paÌ en informationsasymmetri mellan de hyresgaÌster som aÌr inblandade i ombildningsprocessen fraÌn hyreslaÌgenheter till bostadsraÌtter, och andra marknadsaktoÌrer. Ett incitament foÌr att misskoÌta bostadsraÌttsfoÌreningens ekonomi undersoÌks genom hedoniska modeller som tillaÌmpas paÌ transaktionsdata. QC 20180403</p
Essays on Foreclosures and Housing Debt
This thesis consists of four self-contained essays in the field of real estate economics, and specifically, the market for single-family homes. The first three essays examine sales of foreclosed properties, while essay four is on the conversion process of rental apartments to owner-occupied units in the co-operative form. These topics have a common denominator in the analysis of real estate markets and a link to debt financing. The effect of a foreclosure on price is examined through several methods. In the first essay, a spatial hedonic model is applied on transaction data. In the second essay, the impact on holding-period returns and the rate-of-turnover is estimated through propensity-score matching. Hedonic regressions and appraisal data is used in the third essay, which analyzes the determinants of the price impact caused by a forced sale. The impact of local market conditions is tested and a discount on price is related to the search process among market participants. The second topic of conversions is addressed in essay four, which focuses on an informational asymmetry between tenants involved in the conversion process and other market participants. An incentive to mismanage housing co-operatives financially is examined through hedonic models applied to apartment transaction data. Denna avhandling bestaÌr av fyra sjaÌlvstaÌndiga uppsatser inom omraÌdet fastighetsekonomi, och mer specifikt marknaden foÌr aÌgda bostaÌder. De tre foÌrsta uppsatserna undersoÌker exekutiva foÌrsaÌljningar av bostaÌder medan uppsats fyra undersoÌker processen att ombilda hyresraÌtter till bostadsraÌtter. Dessa tvaÌ teman har gemensamt att fastighetsmarknaden och relationen mellan fastigheter och skuldfinansiering analyseras. Effekten paÌ pris som orsakas av en exekutiv foÌrsaÌljning undersoÌks med flera metoder. I uppsats ett tillaÌmpas en spatial hedonisk modell paÌ transaktionsdata. I den andra uppsatsen undersoÌks den paÌverkan som en exekutiv foÌrsaÌljning har paÌ omsaÌttningshastighet och avkastning genom propensity-score matchning. Hedoniska modeller och data med uppskattade vaÌrden anvaÌnds i uppsats tre, som undersoÌker faktorer som paÌverkar den priseffekt som orsakas av en exekutiv foÌrsaÌljning. PaÌverkan av lokala marknadsfoÌrhaÌllanden testas, och en rabatt relateras till soÌkprocessen hos koÌpare och saÌljare. Det andra temat i denna avhandling behandlas i uppsats fyra som har fokus paÌ en informationsasymmetri mellan de hyresgaÌster som aÌr inblandade i ombildningsprocessen fraÌn hyreslaÌgenheter till bostadsraÌtter, och andra marknadsaktoÌrer. Ett incitament foÌr att misskoÌta bostadsraÌttsfoÌreningens ekonomi undersoÌks genom hedoniska modeller som tillaÌmpas paÌ transaktionsdata. QC 20180403</p
VÀrdering av rÄmark, byggrÀtter, och projektfastigheter : ArbetssÀtt, problem och slutsatser
I denna rapport kartlÀggs arbetsgÄng och problem med att vÀrdera rÄmark, byggrÀtter och projektfastigheter i Sverige. Rapporten skrivs pÄ uppdrag av RICS för att i ett svenskt sammanhang kartlÀgga arbetsgÄngen och kÀllor till problem för vÀrdering av rÄmark, byggrÀtter och projektfastigheter. Organisationen SamhÀllsbyggarna har, genom dess vÀrderarsektion, deltagit i framtagandet av rapporten och stÀller sig bakom rapportens slutsatser och rekommendationer.       De tvÄ primÀra metoderna för vÀrdering Àr ortsprismetod och projektkalkyl, vilka tillÀmpas av alla respondenter. Representanter för fastighetsbolag, konsulter, kommuner och banker har intervjuats. Redovisningen i vÀrdeutlÄtanden upplevs av branschens företrÀdare som problematisk. Det gÀller sÀrskilt synen pÄ plan- och projektrisk samt redovisning av osÀkerhetsfaktorer och antaganden i vÀrdeutlÄtanden. Större transparens efterfrÄgas, framförallt i vÀrdeutlÄtanden. I arbete med att göra vÀrderingar anses det svÄrt att fÄ information om omstÀndigheterna för jÀmförelseobjekt. UtifrÄn resultaten av undersökningen föreslÄs att följande punkter ska beaktas i varje vÀrdeutlÄtande: Tydlig beskrivning av objektet och förutsÀttningarna för vÀrderingen. I detta ingÄr syftet med vÀrderingen, vilka antaganden som görs (och av vem) samt det stadie av planering marken befinner sig i. Begreppet byggrÀtt bör endast avse mark med lagakraftvunnen detaljplan. Vilken typ av vÀrde som avses ska tydligt framgÄ. Framförallt om det avser ett marknadsvÀrde under sÀrskilda förutsÀttningar. Det bör ocksÄ framgÄ om vÀrdet avser byggklar mark eller om ytterligare kostnader tillkommer. NÀr ortsprismetod tillÀmpas bör jÀmförelseobjekten redovisas tydligt sÄ att omstÀndigheterna kring varje transaktion framgÄr. I detta ingÄr vilken typ av transaktion som avses (köp eller markanvisning), tillÀggsköpeskillingar, exploateringsbidrag samt förutsÀttningar för grundlÀggning och miljörisker. I en projektkalkyl bör de vÀrdepÄverkande intÀkts- och kostnadsposterna separeras, redovisas och hÀrledas. KÀnslighetsanalyser bör göras för varje post som bygger pÄ antaganden och har en större pÄverkan pÄ vÀrdet. Det bör tydligt framgÄ vilken information som saknats eller antagits i vÀrderingen och av vem informationen erhÄllits av. Punkterna ovan redovisas i större detalj i rapportens slutsatser och rekommendationer. Dessa ska fungera som en punktlista att gÄ igenom vid vÀrdering av rÄmark, byggrÀtter och projektfastigheter. Alternativt som stöd för den som granskar ett vÀrdeutlÄtande.QC 20190301</p
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