Money in a New-Keynesian model estimated with German data

In this paper we estimate a simple New-Keynesian DSGE model with German data for the sample period 1970:q1 to 1998:q4. Contrary to a number of recent similar papers estimated with US and euro-area data, we find that real money balances contribute significantly to the determination of inflation and of the dynamics of output. We estimate our model using a maximum likelihood technique under a full set of structural shocks. We do not rule out indeterminate solutions a priori. Under multiple stable paths we close the model using the minimum-state-variable solution. -- In diesem Diskussionspapier schätzen wir ein einfaches Neukeynesianisches dynamisches Gleichgewichtsmodel für deutsche Daten und den Zeitraum zwischen dem ersten Quartal 1970 und dem letzten Quartal 1998. Im Unterschied zu einer Reihe von anderen Arbeiten für die Vereinigten Staten von Amerika und dem Euroraum deuten unsere Ergebnisse darauf hin, dass die reale Geldmenge einen signifikanten Beitrag zur Erklärung der Inflation und der Dynamik des Bruttoinlandsprodukts leistet. Das Model wird mit Hilfe eines Maximum-Likelihood-Verfahrens geschätzt und erlaubt die Identifikation von strukturellen Schocks. Parameterkonstellationen, die zu multiplen Gleichgewichten führen, werden nicht a-priori ausgeschlossen, sondern mit Hilfe des Minimum-State-Variable-Ansatzes behandelt.Maximum-Likelihood,DSGE,MSV solution,New-Keynesian model,Germany

An Examination of the Role of Gender in Understanding Faculty Perceptions of Student-Athletes at NCAA Division I Institutions

Previous research has indicated that faculty hold negative perceptions toward male student-athletes. Studies have shown that faculty perceptions are most negative when the student-athlete competed at an NCAA Division I institution, in a high-profile sport, and was non-White. What remained unknown was the role of gender in understanding faculty perceptions of student-athletes. The current study considered this gap in the literature and determined if the gender of the student-athlete, the gender of the faculty member, or other characteristics of the faculty member influenced perceptions of male or female student-athletes. The study utilized the Situational Attitudes Scale (SAS) to compare faculty reactions to ten different scenarios involving male student-athletes, female student-athletes, and students from the general student population. The responses from 282 faculty at one NCAA Division I institution were analyzed. Faculty were found to hold more negative perceptions of male student-athletes than either female student-athletes or students in the general population in nine of the ten scenarios posed, although the difference in perception was only found to be statistically significant in eight of the ten situations. Whereas faculty perceptions of male student-athletes were always the most negative of the three groups, faculty perceptions of female student-athletes differed depending on context. Faculty were found to hold more negative perceptions of female student-athletes than students in the general population in certain situations, primarily situations that involved preferential financial or admissions decisions by the institution which targeted female student-athletes. However, faculty were found to hold more favorable perceptions of female student-athletes than students in the general population in other situations, particularly situations related to academics such as when the student has a lower semester GPA or misses a class. The gender of the faculty member was not found to have a significant impact on faculty perceptions of student-athletes. While some other characteristics of the faculty member, specifically academic rank, field of instruction, previous participation in collegiate athletics, and previous experience teaching male student-athletes, were found to be significant in a few specific scenarios, the faculty member’s race, and previous experience teaching female student-athletes were found to have no significant impact of faculty perceptions

Capturing the Inclusiveness and Unintended Effects of Governance

1\. Introduction 2\. Governance for (and against) whom? Gaps in the governance literature 3\. Different qualities and “unintended” effects of governance – toward an analytical framework 3.1 Inclusiveness of governance contributions 3.2 Unintended effects of governance 3.3 Negative externalities of core business practices 4\. The quality of governance in light of different collectivities 5\. ConclusionResearch on governance by external non-state actors in areas of limited statehood concentrates on the conditions under which these actors engage in governance. However, this literature largely ignores findings from research on the anthropology of development, the privatization of security, and non-state welfare provision in developing countries that point to the limitations and negative effects of governance by non-state actors. Hence there are many reasons to distinguish carefully between different qualities of governance contributions and the (unintended) effects of external actors’ practices. This paper deals with the quality of governance in that it suggests an analytical framework for distinguishing different qualities along three dimensions: inclusiveness, the indirect effects of governance, and the external effects of non-governance practices. Empirically, the paper focuses on multinational companies in sub-Saharan Africa. This is for two reasons. Firstly, the literature on business and governance noticeably isolates the positive contributions by firms from the negative effects of business activities in areas of limited statehood. Secondly, the case of companies – actors that do not aim at contributing to governance in the first place – clearly illustrates the added value of distinguishing different qualities of governance contributions. This is also relevant, however, for other governance actors.Die Forschung zu Governance durch externe, nichtstaatliche Akteure in Räumen begrenzter Staatlichkeit konzentriert sich auf die Bedingungen, unter denen diese zur Bereitstellung kollektiver Güter beitragen. Dabei ignoriert sie bisher weitestgehend Ergebnisse der Entwicklungsanthropologie sowie der Literatur zu Sicherheitsprivatisierung und der nichtstaatlichen Bereitstellung von Sozialleistungen, die die Grenzen und negativen Effekte von nichtstaatlicher Governance aufzeigen. Es lohnt sich für die Governance- Forschung, diese Ergebnisse ernst zu nehmen und unterschiedliche Qualitäten von Governance genauer in Augenschein zu nehmen. Dieses Papier beschäftigt sich mit ebenjenen qualitativen Unterschieden von Governance und entwirft einen analytischen Rahmen, mit dessen Hilfe diese entlang von drei Dimensionen erfasst werden können: Inklusivität von Governance, indirekte Effekte von Governance und externe Effekte von Praktiken, die nicht auf Beiträge zu Governance abzielen. Empirisch bezieht es sich auf multinationale Unternehmen in Subsahara Afrika. Dies einerseits, weil sich in der Literatur zu Unternehmen und Governance eine isolierte Betrachtung positiver Beiträge besonders virulent zeigt, ohne zwischen unterschiedlichen Qualitäten von Governance zu unterscheiden. Andererseits zeigen sich am Fall von Unternehmen, deren primäre Motivation nicht auf die Bereitstellung von Kollektivgütern in Räumen begrenzter Staatlichkeit zielt, Probleme der Exklusivität und indirekter Effekte von Governance sowie negativer Externalitäten besonders eindrücklich. Eine Unterscheidung unterschiedlicher Qualitäten von Governance, die diese drei Aspekte berücksichtigt, ist aber auch für andere Governance- Akteure relevant

Childhood IQ and risk of bipolar disorder in adulthood: prospective birth cohort study

Background: Intellectual ability may be an endophenotypic marker for bipolar disorder. Aims: Within a large birth cohort, we aimed to assess whether childhood IQ (including both verbal IQ (VIQ) and performance IQ (PIQ) subscales) was predictive of lifetime features of bipolar disorder assessed in young adulthood. Method: We used data from the Avon Longitudinal Study of Parents and Children (ALSPAC), a large UK birth cohort, to test for an association between measures of childhood IQ at age 8 years and lifetime manic features assessed at age 22–23 years using the Hypomania Checklist-32 (HCL-32; n=1881 individuals). An ordinary least squares linear regression model was used, with normal childhood IQ (range 90–109) as the referent group. We adjusted analyses for confounding factors, including gender, ethnicity, handedness, maternal social class at recruitment, maternal age, maternal history of depression and maternal education. Results: There was a positive association between IQ at age 8 years and lifetime manic features at age 22–23 years (Pearson's correlation coefficient 0.159 (95% CI 0.120–0.198), P>0.001). Individuals in the lowest decile of manic features had a mean full-scale IQ (FSIQ) which was almost 10 points lower than those in the highest decile of manic features: mean FSIQ 100.71 (95% CI 98.74–102.6) v. 110.14 (95% CI 107.79–112.50), P>0.001. The association between IQ and manic features was present for FSIQ, VIQ and for PIQ but was strongest for VIQ. Conclusions: A higher childhood IQ score, and high VIQ in particular, may represent a marker of risk for the later development of bipolar disorder. This finding has implications for understanding of how liability to bipolar disorder may have been selected through generations. It will also inform future genetic studies at the interface of intelligence, creativity and bipolar disorder and is relevant to the developmental trajectory of bipolar disorder. It may also improve approaches to earlier detection and treatment of bipolar disorder in adolescents and young adults

Computer experiments with functional inputs and scalar outputs by a norm-based approach

A framework for designing and analyzing computer experiments is presented, which is constructed for dealing with functional and real number inputs and real number outputs. For designing experiments with both functional and real number inputs a two stage approach is suggested. The first stage consists of constructing a candidate set for each functional input and during the second stage an optimal combination of the found candidate sets and a Latin hypercube for the real number inputs is searched for. The resulting designs can be considered to be generalizations of Latin hypercubes. GP models are explored as metamodel. The functional inputs are incorporated into the kriging model by applying norms in order to define distances between two functional inputs. In order to make the calculation of these norms computationally feasible, the use of B-splines is promoted

Spectral Analysis of Mid-IR Excesses of White Dwarfs

In our Spitzer 24 \mu m survey of hot white dwarfs (WDs) and archival Spitzer study of pre-WDs, i.e., central stars of planetary nebulae (CSPNs), we found mid-IR excesses for -15 WDs/pre-WDs. These mid-IR excesses are indicative of the presence of circumstellar dust that could be produced by sub-planetary objects. To further assess the nature of these IR-excesses, we have obtained Spitzer IRS, Gemini NIRI and Michelle, and KPNO 4m echelle spectra of these objects. In this paper we present the analysis of these spectroscopic observations and discuss the nature of these IR excesses.Comment: Part of PlanetsbeyondMS/2010 proceedings http://arxiv.org/html/1011.660

Raising Energy Efficiency of High-Head Drinking Water Pumping Schemes in Hilly India – Massive Potential, Complex Challenges

Investigations of energy efficiency of 25 pumps showed wire-to-water efficiencies ranging from 30% to 60%, with an average of 47%. Raising the efficiency of just 7 pumps to the realistic target of 60% would require an initial investment of 126 k€ and represent a net present value (profit) of 446 k€ over a 10-year pump lifetime, saving 8.6 kt of CO2 emissions. The primary measures for raising efficiency are in order of priority: 1) improving pre-filtration of raw water to prevent rapid mechanical wear due to suspended particles during monsoon, 2) providing training, improved working conditions, and better tools and spare parts among pump operators and 3) replacing aging, oversized pumps with properly sized pumps operating close to peak efficiency. As of January 2014 the results have been confirmed by a Bureau of Energy Efficiency-certified energy auditor and the extent and funding of efficiency measures implementation is in planning

INFLUENTIAL FACTORS OF RECOMMENDATION BEHAVIOUR IN SOCIAL NETWORK SITES - AN EMPIRICAL ANALYSIS

This paper analyzes influential factors of recommendation behaviour in social network sites (SNSs). Extant research on both SNSs and electronic word of mouth (eWOM) has given insufficient attention to SNSs as a potential eWOM channel. Considering the specificities of SNSs, this paper distinguishes implicit and explicit recommendation behaviour. Drawing upon research on eWOM, SNSs, and knowledge exchange, influential factors of implicit and explicit recommendation behaviour are identified. A theoretical model explaining why SNS users (do not) engage in implicit and explicit recommendation behaviour is developed. Structural equation modeling (SEM) is used for hypothesis testing. Data was collected via an online survey from 832 SNS users. The empirical results show a positive impact of reciprocity on both implicit and explicit recommendation behaviour, a negative impact of fear of producing spam on implicit recommendation behaviour, and a positive impact of both implicit recommendation behaviour and the perceived value of the recommended product on explicit recommendation behaviour

Machines, journeys, prisons and yo-yos:Metaphors of pain, illness and medicine in consultations with chronic pain patients

Introduction: This paper examines pain, illness and medicine metaphors as used in consultations between chronic pain patients and anaesthesiologists, physiotherapists and psychologists in a Belgian pain clinic. As metaphors frame and highlight aspects of understanding and experiences of life events, including illness, they can provide insight in how health professionals and patients construct illness, pain and medicine in interaction. Materials and method: 16 intake consultations (collected in Belgium in April–May 2019) between 6 patients and 4 health professionals were qualitatively coded twice ATLAS. TI by a team of 3 coders, using an adjusted form of the Metaphor Identification Procedure. Each metaphor was labelled for source domain, target domain and speaker. Results: A number of metaphors that have been previously documented in past research were frequent in our data too, such as journey and machine metaphors, although sometimes also used differently, like war metaphors. Our data set also contained many few-used and sometimes more novel metaphors, such as ILLNESS IS A YO-YO. Many metaphors highlight particular aspects of living with and talking about chronic pain, such as its duration and persistent presence, a lack of agency and feelings of powerlessness, and a dualistic perspective on body and mind. Discussion and conclusion: The metaphors used by health professionals and patients give insight in the lived experience of having and treating chronic pain. In this way, they can contribute to our understanding of patients’ experiences and challenges, how they recur in clinical communication, and how they are related to wider discourses on health, illness and pain.</p