Testing for country heterogeneity in growth models using a finite mixture approach

We define a bivariate mixture model to test whether economic growth can be considered exogenous in the Solovian sense. For this purpose, the multivariate mixture approach proposed by Alfo and Trovato is applied to the Bernanke and Gurkaynak extension of the Solow model. We find that the explanatory power of the Solow growth model is enhanced, since growth rates are not statistically significantly associated with investment rates, when cross-country heterogeneity is considered. Moreover, no sign of convergence to a single equilibrium is foun

Bank capital and portfolio risk among Islamic banks

Minimum capital requirements are often implemented under the notion that increased capital improves bank safety and stability. However, an unintended consequence of higher capital requirements could arise if increasing capital induces banks to invest in riskier assets. Several researchers have examined this relationship between bank capital and risk among conventional banks, and interest around this topic has intensifi�ed since the 2007-2008 fi�nancial crisis. However, the fi�ndings are rather mixed. Moreover, very few studies have focused on Islamic banks, which differ greatly from their conventional counterpart's due to their need to be Shariah-compliant. In this paper a sample of 22 Islamic banks is analyzed over a seven year period from 2007-2013. The empirical approach is fully parametric and Bayesian utilizing techniques developed by Kessler and Munkin (2015) and building on previous banking research by Shrives and Dahl (1992) and Jacques and Nigro (1997). Some evidence is found suggesting that increases in total capital positively affect the levels of asset risks among Islamic banks

Bank capital and portfolio risk among Islamic banks

Minimum capital requirements are often implemented under the notion that increased capital improves bank safety and stability. However, an unintended consequence of higher capital requirements could arise if increasing capital induces banks to invest in riskier assets. Several researchers have examined this relationship between bank capital and risk among conventional banks, and interest around this topic has intensifi�ed since the 2007-2008 fi�nancial crisis. However, the fi�ndings are rather mixed. Moreover, very few studies have focused on Islamic banks, which differ greatly from their conventional counterpart's due to their need to be Shariah-compliant. In this paper a sample of 22 Islamic banks is analyzed over a seven year period from 2007-2013. The empirical approach is fully parametric and Bayesian utilizing techniques developed by Kessler and Munkin (2015) and building on previous banking research by Shrives and Dahl (1992) and Jacques and Nigro (1997). Some evidence is found suggesting that increases in total capital positively affect the levels of asset risks among Islamic banks

The Effect of Dental Insurance on the Use of Dental Care for Older Adults: A Partial Identification Analysis

We evaluate the impact of dental insurance on the use of dental services using a potential outcomes identification framework designed to handle uncertainty created by unknown counterfactuals – that is, the endogenous selection problem – as well as uncertainty about the reliability of self-reported insurance status. Using data from the Health and Retirement Study, we estimate that utilization rates of adults older than 50 would increase from 75% to around 80% under universal dental coverage

Self-Selection and Subjective-Well Being: Copula Models with an Application to Public and Private Sector Work

We discuss a new approach to specifying and estimating ordered probit models with endogenous switching, or with binary endogenous regressor, based on copula functions. These models provide a framework of analysis for self-selection in economic well-being equations, where assigment of regressors may be choice based, resulting from well-being maximization, rather than random. In an application to public and private sector job satisfaction, and using data on male workers from the German Socio-Economic Panel, we find that a model based on Frank's copula is preferred over two alternative models with independence and normal copula, respectively. The results suggest that public sector workers are negatively selected

Комплексная оценка характеристик суперконцентратов для окрашивания жестких ПВХ-композиций в процессе высокоскоростной экструзии

A complex approach to the choice of color masterbatches for rigid PVC compounds dyeing directly during high-speed extrusion is proposed in this paper. The data is shown to improve the thermal stability of rigid PVC compounds with new organosilicon modifiers. To evaluate the characteristics of pigment masterbatches it is suggested to use differential scanning calorimetry (DSC) and thermogravimetric analysis (TGA), which allow determining the thermal stability, structure and behavior of the pigment masterbatch upon heating. These results will allow creating a fundamental basis for the synthesis and development of new pigments and masterbatches, formulate the requirements for the characteristics and choice of masterbatches taking into account the formulation of the polymer composition.Вработе предлагается комплексный подход по выбору суперконцентратов для окрашивания жестких ПВХ-композиций непосредственно в непрерывном процессе высокоскоростной экструзии. Представлены данные по повышению термостабильности жестких ПВХ-композиций новыми кремнийорганическими модификаторами. Для оценки характеристик суперконцентратов пигментов предложены методы дифференциальной сканирующей калориметрии (ДСК) и термогравиметри-ческого анализа (ТГА), которые позволяют определить термостойкость, состав и поведение супер-концентратов пигментов при нагревании. Полученные результаты позволят создать фундаментальную базу для синтеза и создания новых пигментов и суперконцентратов, сформулировать требования к характеристикам и выбору суперкон-центратов с учетом рецептуры полимерной композиции