1,599 research outputs found
Capital Account Liberalization and Economic Performance: Survey and Synthesis
This paper reviews the literature on the effects of capital account liberalization and stock market liberalization on economic growth. The various empirical measures used to gauge the presence of controls on capital account transactions as well as indicators of stock market liberalization are discussed. We compare detailed measures of capital account controls that attempt to capture the intensity of enforcement with others that simply capture whether or not controls are present. Our review of the literature shows the contrasting results that have been obtained. These differences may reflect differences in country coverage, sample periods and indicators of liberalization. In order to reconcile these differences, we present new estimates of the effects on growth of capital account liberalization and stock market liberalization. We find some support for a positive effect of capital account liberalization on growth, especially for developing countries.
A new device to mount portable energy-dispersive X-ray fluorescence spectrometers (p-ED-XRF) for semi-continuous analyses of split (sediment) cores and solid samples
Portable energy-dispersive X-ray fluorescence spectrometers (p-ED-XRF) have
become increasingly popular in sedimentary laboratories to quantify the
chemical composition of a range of materials such as sediments, soils, solid
samples, and artefacts. Here, we introduce a low-cost, clearly arranged unit
that functions as a sample chamber (German industrial property rights no. 20
2014 106 048.0) for p-ED-XRF devices to facilitate economic, non-destructive,
fast, and semi-continuous analysis of (sediment) cores or other solid samples.
The spatial resolution of the measurements is limited to the specifications of
the applied p-ED-XRF device – in our case a Thermo Scientific Niton XL3t p-ED-
XRF spectrometer with a maximum spatial resolution of 0.3 cm and equipped with
a charge-coupled device (CCD) camera to document the measurement spot. We
demonstrate the strength of combining p-ED-XRF analyses with this new sample
chamber to identify Holocene facies changes (e.g. marine vs. terrestrial
sedimentary facies) using a sediment core from an estuarine environment in the
context of a geoarchaeological investigation at the Atlantic coast of southern
Spain
Multivariate Conditional Transformation Models
Regression models describing the joint distribution of multivariate response
variables conditional on covariate information have become an important aspect
of contemporary regression analysis. However, a limitation of such models is
that they often rely on rather simplistic assumptions, e.g. a constant
dependency structure that is not allowed to vary with the covariates or the
restriction to linear dependence between the responses only. We propose a
general framework for multivariate conditional transformation models that
overcomes these limitations and describes the entire distribution in a
tractable and interpretable yet flexible way conditional on nonlinear effects
of covariates. The framework can be embedded into likelihood-based inference,
including results on asymptotic normality, and allows the dependence structure
to vary with covariates. In addition, the framework scales well beyond
bivariate response situations, which were the main focus of most earlier
investigations. We illustrate the application of multivariate conditional
transformation models in a trivariate analysis of childhood undernutrition and
demonstrate empirically that our approach can be beneficial compared to
existing benchmarks such that complex truly multivariate data-generating
processes can be inferred from observations
The small multiple in econometrics – a redesign
This brief note serves as a companion paper to Klein (2014). Small multiples incorporate graphical frameworks such as P value plots with ease, and thus facilitate visualizing quantitative data that record parameter change from simulation experiments. Pitfalls in layout may be avoided when observing elementary design principles. To illustrate their workings the principles revise a small multiple that collects simulation results on the empirical size of procedures testing exogeneity in the bivariate probit model
The small multiple in econometrics – a redesign
This brief note serves as a companion paper to Klein (2014). Small multiples incorporate graphical frameworks such as P value plots with ease, and thus facilitate visualizing quantitative data that record parameter change from simulation experiments. Pitfalls in layout may be avoided when observing elementary design principles. To illustrate their workings the principles revise a small multiple that collects simulation results on the empirical size of procedures testing exogeneity in the bivariate probit model
Communicating quantitative information: tables vs graphs
In applied statistics and computational econometrics a key task for researchers is to bring the sizable but unstructured body of numeric evidence, for example from Monte Carlo simulation, in a form ready for introducing to scientific dialog. At their disposal they find established means of arrangement: narrative text, tables, graphs. Employing classical principles of communication to evaluate their suitability graphical devices seem optimal. They absorb large quantities of data, and organize content into a productive tool. Graphs confirm the advantage when put to work in a standard simulation exercise. However, theory and application contrast with the norm observed in peer-reviewed journals – by a wide margin and with considerable persistency researchers prefer tables
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