9,023 research outputs found
Identification and Estimation of a Labour Market Model for the Tradeables Sector: the Greek Case.
This paper derives a theoretical labour market model for the tradeables sector of a small open economy. Using Greek manufacturing data and applying multivariate cointegrating techniques, two cointegrating vectors are estimated based on the a priori restrictions provided by the theoretical model; a labour demand and a real exchange rate equation, respectively. The short-run estimates of the model suggest that labour decisions not only depend upon past disequilibria in the labour market, but also on the discrepancy between the real exchange rate and its implied long-run equilibrium relationship, that is, the magnitude of the real exchange rate misalignment.EMPLOYMENT ; REGRESSION ANALYSIS ; ECONOMIC MODELS ; EUROPE
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On the dynamics of lending and deposit interest rates in emerging markets: A non-linear approach
This paper studies the dynamics of lending and deposit rates in two emerging markets in Latin America: Colombia and Mexico. The dynamics of lending (deposit) interest rates are driven by the exogenous interbank interest rate and deviations from the long-run lending-interbank (deposit-interbank) interest rate relationship. Allowing for different interest rate behavior during periods characterized by large and small values of the spread, the non-linear specification proves superior to the linear one
Modeling The Behaviour of the Spot Prices of Various Types of Coffee.
This paper investigates long-run relationships among the spot prices of four coffee types. We find two cointegrating vectors: one between the prices of Other Milds and Colombian coffee, and the other one between Unwashed Arabicas and Robustas. Following Pesaran and Shin (1996), persistence profile analysis of the two cointegrating vectors shows a rapid adjustment towards their equilibrium value. This suggests that the four coffee markets are highly related, and that discrepancies in the equilibrium relationships are short-lived. Out of sample evaluation of the model is reasonably good, except for two occasions of sharp price increases following adverse weather conditions.PRICING
Emc aerospace systems analysis Interim scientific report
Analysis and data requirements for solving potential aerospace electromagnetic compatibility problem
Variational bounds on the energy dissipation rate in body-forced shear flow
A new variational problem for upper bounds on the rate of energy dissipation
in body-forced shear flows is formulated by including a balance parameter in
the derivation from the Navier-Stokes equations. The resulting min-max problem
is investigated computationally, producing new estimates that quantitatively
improve previously obtained rigorous bounds. The results are compared with data
from direct numerical simulations.Comment: 15 pages, 7 figure
MACOC: a medoid-based ACO clustering algorithm
The application of ACO-based algorithms in data mining is growing over the last few years and several supervised and unsupervised learning algorithms have been developed using this bio-inspired approach. Most recent works concerning unsupervised learning have been focused on clustering, showing great potential of ACO-based techniques. This work presents an ACO-based clustering algorithm inspired by the ACO Clustering (ACOC) algorithm. The proposed approach restructures ACOC from a centroid-based technique to a medoid-based technique, where the properties of the search space are not necessarily known. Instead, it only relies on the information about the distances amongst data. The new algorithm, called MACOC, has been compared against well-known algorithms (K-means and Partition Around Medoids) and with ACOC. The experiments measure the accuracy of the algorithm for both synthetic datasets and real-world datasets extracted from the UCI Machine Learning Repository
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