International Rent Sharing in Multinational Firms

We use a unique firm-level panel data set of multinational parents and their foreign affiliates to analyze whether profits are shared across borders within multinational firms. Using both fixed-effects and generalized method-of-moments estimators, affiliate wage levels are estimated to respond to both and parent profitability. The elasticity of affiliate wages to parent profits per worker is approximately 0.03, which can explain over 20 percent of the observed variation in affiliate wages. These results reveal a previously ignored aspect of labor market rent sharing. They also reveal an important micro-level linkage with potential macro-level implications. International rent sharing can transmit economic conditions across national borders, and can thereby provide an implicit cross-country risk-sharing mechanism.

Wages and International Rent Sharing in Multinational Firms

We use a unique firm-level panel data set of multinational parents and their foreign affiliates to analyze whether profits are shared across borders within multinational firms. Using both fixed-effects and generalized method-of-moments estimators, affiliate wage levels are estimated to respond to both affiliate and parent profitability. The elasticity of affiliate wages to parent profits per worker is approximately 0.03, which can explain over 20 percent of the observed variation in affiliate wages. These results reveal a previously ignored aspect of labor-market rent sharing. They also reveal an important micro-level linkage with potential macro-level implications. International rent sharing can transmit economic conditions across national borders, and can thereby provide an implicit cross-country risk-sharing mechanism.Wages, Profit Sharing, Multinational Firms

International Rent Sharing in Multinational Firms

We use a unique firm-level panel data set of multinational parents and their foreign affiliates to analyze whether profits are shared across borders within multinational firms. Using both fixed-effects and generalized method-of-moments estimators, affiliate wage levels are estimated to respond to both affiliate and parent profitability. The elasticity of affiliate wages to parent profits per worker is approximately 0.03, which can explain over 20 percent of the observed variation in affiliate wages. These results reveal a previously ignored aspect of labor-market rent sharing. They also reveal an important micro-level linkage with potential macro-level implications. International rent sharing can transmit economic conditions across national borders, and can thereby provide an implicit cross-country risk-sharing mechanism.

Objectifying Tactics: Athlete and Race Variability in Elite Short-Track Speed Skating

Purpose: To objectively capture and understand tactical considerations in a race, the authors explored whether race-to-race variation of an athlete and the variation of competitors within a race could provide insight into how and when athletes modify their pacing decisions in response to other competitors. Methods: Lap times of elite 500-, 1000-, and 1500-m short-track speed-skating competitions from 2011 to 2016 (N = 6965 races) were collected. Log-transformed lap and finishing times were analyzed with mixed linear models. To determine within-athlete race-to-race variability, athlete identity (between-athletes differences) and the residual (within-athlete race-to-race variation) were added as random effects. To determine race variability, race identity (between-races differences) and the residual (within-race variation) were added as random effects. Separate analyses were performed for each event. Results: Within-athlete race-to-race variability of the finishing times increased with prolonged distance of the event (500-m, CV = 1.6%; 1000-m, CV = 2.8%; 1500-m, CV = 4.1%), mainly due to higher within-athlete race-to-race variability in the initial phase of 1000-m (3.3–6.9%) and 1500-m competitions (8.7–12.2%). During these early stages, within-race variability is relatively low in 1000-m (1.1–1.4%) and 1500-m (1.3–2.8%) competitions. Conclusion: The present study demonstrated how analyses of athlete and race variability could provide insight into tactical pacing decisions in sports where finishing position is emphasized over finishing time. The high variability of short-track skaters is a result of the decision to alter initial pacing behavior based on the behavior of other competitors in their race, emphasizing the importance of athlete–environment interactions in the context of pacing

Pacing Decision Making in Sport and the Effects of Interpersonal Competition: A Critical Review

An athlete’s pacing strategy is widely recognised as an essential determinant for performance during individual events. Previous research focussed on the importance of internal bodily state feedback, revealed optimal pacing strategies in time-trial exercise, and explored concepts such as teleoanticipation and template formation. Recently, human–environment interactions have additionally been emphasized as a crucial determinant for pacing, yet how they affect pacing is not well understood. Therefore, this literature review focussed on exploring one of the most important human–environment interactions in sport competitions: the interaction among competitors. The existing literature regarding the regulation of exercise intensity and the effect of competition on pacing and performance is critically reviewed in this paper. The PubMed, CINAHL and Web of Science electronic databases were searched for studies about pacing in sports and (interpersonal) competition between January 2000 to October 2017, using the following combination of terms: (1) Sports AND (2) Pacing, resulting in 75 included papers. The behaviour of opponents was shown to be an essential determinant in the regulation of exercise intensity, based on both observational (N = 59) and experimental (N = 16) studies. However, adjustment in the pacing response related to other competitors appears to depend on the competitive situation and the current internal state of the athlete. The findings of this review emphasize the importance of what is happening around the athlete for the outcome of the decision-making process involved in pacing, and highlight the necessity to incorporate human–environment interactions into models that attempt to explain the regulation of exercise intensity in sports and exercise

Probing the Light Pseudoscalar Window

Very light pseudoscalars can arise from the symmetry-breaking sector in many extensions of the Standard Model. If their mass is below 200 MeV, they can be long-lived and have interesting phenomenology. We discuss the experimental constraints on several models with light pseudoscalars, including one in which the pseudoscalar is naturally fermiophobic. Taking into account the stringent bounds from rare K and B decays, we find allowed parameter space in each model that may be accessible in direct production experiments. In particular, we study the photoproduction of light pseudoscalars at Jefferson Lab and conclude that a beam dump experiment could explore some of the allowed parameter space of these models.Comment: 22 pages, 4 figure

Perturbative expansions from Monte Carlo simulations at weak coupling: Wilson loops and the static-quark self-energy

Perturbative coefficients for Wilson loops and the static-quark self-energy are extracted from Monte Carlo simulations at weak coupling. The lattice volumes and couplings are chosen to ensure that the lattice momenta are all perturbative. Twisted boundary conditions are used to eliminate the effects of lattice zero modes and to suppress nonperturbative finite-volume effects due to Z(3) phases. Simulations of the Wilson gluon action are done with both periodic and twisted boundary conditions, and over a wide range of lattice volumes (from $3^4$ to $16^4$) and couplings (from $\beta \approx 9$ to $\beta \approx 60$). A high precision comparison is made between the simulation data and results from finite-volume lattice perturbation theory. The Monte Carlo results are shown to be in excellent agreement with perturbation theory through second order. New results for third-order coefficients for a number of Wilson loops and the static-quark self-energy are reported.Comment: 36 pages, 15 figures, REVTEX documen

Magnetic domain fluctuations in an antiferromagnetic film observed with coherent resonant soft x-ray scattering

We report the direct observation of slow fluctuations of helical antiferromagnetic domains in an ultra-thin holmium film using coherent resonant magnetic x-ray scattering. We observe a gradual increase of the fluctuations in the speckle pattern with increasing temperature, while at the same time a static contribution to the speckle pattern remains. This finding indicates that domain-wall fluctuations occur over a large range of time scales. We ascribe this non-ergodic behavior to the strong dependence of the fluctuation rate on the local thickness of the film.Comment: to appear in Phys. Rev. Let

Gross Job Flows in Ukraine: Size, Ownership and Trade Effects

This paper documents and analyses gross job flows and their determinants in Ukraine using a unique data set of more than 2200 Ukrainian firms operating in both the manufacturing and the non-manufacturing sector for the years 1998-2000. There are several important findings in the paper. Job destruction is dominating job creation in both 1999 and 2000. In connection with other evidence we infer from this that Ukraine is only at the beginning of the restructuring process. The most clear-cut result of our analysis is the strong positive effect of new private firms on net employment growth, a finding established for other transition economies as well. At the same time, we do not find differences in the employment growth of state-owned and privatised firms. Apart from ownership effects we also find, at the firm level, an inverse correlation of size and net employment growth and of size and job reallocation. Finally, we establish that strong foreign trade links force firms to shed labour more aggressively and to engage in more restructuring when trade is directed to and originating from Western economies. This disciplining function is absent when the trade flows are confined to CIS countries.http://deepblue.lib.umich.edu/bitstream/2027.42/39906/3/wp521.pd

Loop quantum gravity induced modifications to particle dynamics

The construction of effective Hamiltonians arising from Loop Quantum Gravity and incorporating Planck scale corrections to the dynamics of photons and spin 1/2 particles is summarized. The imposition of strict bounds upon some parameters of the model using already existing experimental data is also reviewed.Comment: 9 pages, 0 figures, talk presented at the X Mexican School of Particles and Fields, latex, aipproc style 6x