Fordham University

Displaying 1-15 of 15 results

  • White Papers // Nov 2012

    Statistical Adapting RED in Dynamic Networks

    Active Queue Management (AQM) aims to provide high link utilization and low queuing delay in communication networks. However, it is challenging to adapt AQM parameters in response to dynamic network scenarios with varying roundtrip time, link capacity and traffic load. In order to maintain a stable queue with desired performance...

    Provided By Fordham University

  • White Papers // Nov 2010

    Government Intervention and the CDS Market: A Look At The Market's Response To Policy Announcements During The 2007-2009 Financial Crisis

    This paper adds to the literature on the financial markets' reaction to government interventions during the 2007-2009 financial crisis by analyzing the response of US firms' credit default swap spreads to key government actions. The authors find that the government measures taken to stabilize both the financial sector and the...

    Provided By Fordham University

  • White Papers // Jun 2010

    Disability Cash Transfers In The Context Of Poverty And Unemployment: The Case Of South Africa

    Cash transfers have recently become more common in developing countries and are the subject of a growing body of research on their reach and impacts (Ellis, Devereux and White, 2009). In low income countries, disability cash transfer programs tend to be small with low take up rates (e.g. in India...

    Provided By Fordham University

  • White Papers // Jun 2010

    Interstate Risk Sharing In Germany: 1970-2006

    This paper studies the channels of interstate risk sharing in Germany for the time period 1970 to 2006 following the methodology of Asdrubali et al. (1996). Their framework allows one to estimate the degree of smoothing of a shock to a state's gross domestic product by factor markets, the government...

    Provided By Fordham University

  • White Papers // Apr 2010

    Free Trade Agreements And External Tariffs

    There has been a proliferation of preferential trade agreements within the last two decades. This paper analyzes the effects of Free Trade Agreements (FTAs) on external tariffs under a political economy setup. The author extends the Grossman and Helpman (1995) model by determining tariff rates endogenously instead of assuming they...

    Provided By Fordham University

  • White Papers // Feb 2010

    Time Variation In Liquidity: The Role Of Market-Maker Inventories And Revenues

    This paper shows that market-maker balance sheet and income statement variables explain time variation in liquidity, suggesting liquidity-supplier financing constraints matter. Using 11 years of NYSE specialist inventory positions and trading revenues, the author find that aggregate market-level and specialist firm-level spreads widen when specialists have large positions or lose...

    Provided By Fordham University

  • White Papers // Jan 2010

    Forecasting Inflation with Thick Models and Neural Networks

    This paper applies linear and neural network-based "thick" models for forecasting inflation based on Phillips - curve formulations. Thick models represent "trimmed mean" forecasts from several neural network models. They outperform the best performing linear models for "real time" and "bootstrap" forecasts for service indices for the euro area, and...

    Provided By Fordham University

  • White Papers // Dec 2009

    Euro Appreciation and Chinese Fear of Floating: Pressures from the NDF Market

    This paper examines financial market data to assess the likelihood of renminbi appreciation and its implications for Chinese financial markets, given the continuing strength of the Euro against the U.S. dollar. Using VAR and Bayesian VAR estimation, it is found that the 3-month non-deliverable forward premia are key series linking...

    Provided By Fordham University

  • White Papers // Nov 2009

    Long-Term Impact Of Investments In Early Schooling - Empirical Evidence From Rural Ethiopia

    This paper identifies the cumulative impact of early schooling investments on later schooling outcomes in a developing country context using enrollment status and relative grade attainment as short-run and long-run measures of schooling. Using a child-level longitudinal data set from rural Ethiopia, the author estimates a dynamic conditional schooling demand...

    Provided By Fordham University

  • White Papers // Nov 2009

    Just War Theory, Humanitarian Intervention, and the need for a Democratic Federation

    The primary purpose of government is to secure public goods that cannot be achieved by free markets. The Coordination Principle tells to consolidate sovereign power in a single institution to overcome collective action problems that otherwise prevent the relevant public goods. There are several public goods that require such coordination...

    Provided By Fordham University

  • White Papers // Nov 2009

    Storage And The Volatility Of Agricultural Prices: A Model Of Endogenous Fluctuations

    Recent developments in world food markets stress the importance of identifying the sources of food price volatility. This paper develops a nonlinear Cobweb model with endogenous volatility. It supplements the famous Deaton and Laroque model based on exogenous fluctuations and storage. As with Deaton and Laroque, it leads to price...

    Provided By Fordham University

  • White Papers // Aug 2009

    It?s What You Do and Who You Do It With: A Longitudinal Study of the Sense of Calling

    In this 3-1/2-year, 3- wave longitudinal survey of 352 musicians, the author build on this previous research to examine the relationship between a broader set of factors and the sense of calling over time. Results indicate that participants' ongoing behaviours and social factors in the calling domain, music, are linked...

    Provided By Fordham University

  • White Papers // Aug 2009

    Regulatory Uncertainty And Financial Contagion: Evidence From The Hybrid Capital Securities Market

    This paper examines the negative market impact that resulted from the insurance regulators' reclassification of 140 hybrid capital securities in spring and summer 2006. It illustrates how financial contagion can spring from a regulatory policy change that lacks transparency. The authors quantify the impact of the uncertainty surrounding the true...

    Provided By Fordham University

  • White Papers // Jul 2009

    Targeted Vaccine Subsidies For Healthcare Workers

    This paper studies the public goods problem associated with vaccinations. The externality created by an infection is composed of two parts, the probability of infection and the marginal infections generated if infected. The author argues that the key component in a successful vaccination strategy is the second of these items...

    Provided By Fordham University

  • White Papers // Nov 2005

    The Importance Of Place Of Residence In Predicting Late-Stage Diagnosis Of Breast Or Cervical Cancer

    The authors tested whether inner-city women were at significantly increased risk of late-stage cancer diagnosis because they resided in extremely poor and socially isolated neighborhoods or in neighborhoods meeting the federal definition of a Medically Underserved Area (MUA). Cancer registry data on women in three American cities were matched to...

    Provided By Fordham University

  • White Papers // Aug 2009

    Regulatory Uncertainty And Financial Contagion: Evidence From The Hybrid Capital Securities Market

    This paper examines the negative market impact that resulted from the insurance regulators' reclassification of 140 hybrid capital securities in spring and summer 2006. It illustrates how financial contagion can spring from a regulatory policy change that lacks transparency. The authors quantify the impact of the uncertainty surrounding the true...

    Provided By Fordham University

  • White Papers // Dec 2009

    Euro Appreciation and Chinese Fear of Floating: Pressures from the NDF Market

    This paper examines financial market data to assess the likelihood of renminbi appreciation and its implications for Chinese financial markets, given the continuing strength of the Euro against the U.S. dollar. Using VAR and Bayesian VAR estimation, it is found that the 3-month non-deliverable forward premia are key series linking...

    Provided By Fordham University

  • White Papers // Aug 2009

    It?s What You Do and Who You Do It With: A Longitudinal Study of the Sense of Calling

    In this 3-1/2-year, 3- wave longitudinal survey of 352 musicians, the author build on this previous research to examine the relationship between a broader set of factors and the sense of calling over time. Results indicate that participants' ongoing behaviours and social factors in the calling domain, music, are linked...

    Provided By Fordham University

  • White Papers // Nov 2009

    Just War Theory, Humanitarian Intervention, and the need for a Democratic Federation

    The primary purpose of government is to secure public goods that cannot be achieved by free markets. The Coordination Principle tells to consolidate sovereign power in a single institution to overcome collective action problems that otherwise prevent the relevant public goods. There are several public goods that require such coordination...

    Provided By Fordham University

  • White Papers // Jan 2010

    Forecasting Inflation with Thick Models and Neural Networks

    This paper applies linear and neural network-based "thick" models for forecasting inflation based on Phillips - curve formulations. Thick models represent "trimmed mean" forecasts from several neural network models. They outperform the best performing linear models for "real time" and "bootstrap" forecasts for service indices for the euro area, and...

    Provided By Fordham University

  • White Papers // Nov 2005

    The Importance Of Place Of Residence In Predicting Late-Stage Diagnosis Of Breast Or Cervical Cancer

    The authors tested whether inner-city women were at significantly increased risk of late-stage cancer diagnosis because they resided in extremely poor and socially isolated neighborhoods or in neighborhoods meeting the federal definition of a Medically Underserved Area (MUA). Cancer registry data on women in three American cities were matched to...

    Provided By Fordham University

  • White Papers // Apr 2010

    Free Trade Agreements And External Tariffs

    There has been a proliferation of preferential trade agreements within the last two decades. This paper analyzes the effects of Free Trade Agreements (FTAs) on external tariffs under a political economy setup. The author extends the Grossman and Helpman (1995) model by determining tariff rates endogenously instead of assuming they...

    Provided By Fordham University

  • White Papers // Jun 2010

    Interstate Risk Sharing In Germany: 1970-2006

    This paper studies the channels of interstate risk sharing in Germany for the time period 1970 to 2006 following the methodology of Asdrubali et al. (1996). Their framework allows one to estimate the degree of smoothing of a shock to a state's gross domestic product by factor markets, the government...

    Provided By Fordham University

  • White Papers // Jul 2009

    Targeted Vaccine Subsidies For Healthcare Workers

    This paper studies the public goods problem associated with vaccinations. The externality created by an infection is composed of two parts, the probability of infection and the marginal infections generated if infected. The author argues that the key component in a successful vaccination strategy is the second of these items...

    Provided By Fordham University

  • White Papers // Jun 2010

    Disability Cash Transfers In The Context Of Poverty And Unemployment: The Case Of South Africa

    Cash transfers have recently become more common in developing countries and are the subject of a growing body of research on their reach and impacts (Ellis, Devereux and White, 2009). In low income countries, disability cash transfer programs tend to be small with low take up rates (e.g. in India...

    Provided By Fordham University

  • White Papers // Nov 2009

    Long-Term Impact Of Investments In Early Schooling - Empirical Evidence From Rural Ethiopia

    This paper identifies the cumulative impact of early schooling investments on later schooling outcomes in a developing country context using enrollment status and relative grade attainment as short-run and long-run measures of schooling. Using a child-level longitudinal data set from rural Ethiopia, the author estimates a dynamic conditional schooling demand...

    Provided By Fordham University

  • White Papers // Nov 2009

    Storage And The Volatility Of Agricultural Prices: A Model Of Endogenous Fluctuations

    Recent developments in world food markets stress the importance of identifying the sources of food price volatility. This paper develops a nonlinear Cobweb model with endogenous volatility. It supplements the famous Deaton and Laroque model based on exogenous fluctuations and storage. As with Deaton and Laroque, it leads to price...

    Provided By Fordham University

  • White Papers // Feb 2010

    Time Variation In Liquidity: The Role Of Market-Maker Inventories And Revenues

    This paper shows that market-maker balance sheet and income statement variables explain time variation in liquidity, suggesting liquidity-supplier financing constraints matter. Using 11 years of NYSE specialist inventory positions and trading revenues, the author find that aggregate market-level and specialist firm-level spreads widen when specialists have large positions or lose...

    Provided By Fordham University

  • White Papers // Nov 2010

    Government Intervention and the CDS Market: A Look At The Market's Response To Policy Announcements During The 2007-2009 Financial Crisis

    This paper adds to the literature on the financial markets' reaction to government interventions during the 2007-2009 financial crisis by analyzing the response of US firms' credit default swap spreads to key government actions. The authors find that the government measures taken to stabilize both the financial sector and the...

    Provided By Fordham University

  • White Papers // Nov 2012

    Statistical Adapting RED in Dynamic Networks

    Active Queue Management (AQM) aims to provide high link utilization and low queuing delay in communication networks. However, it is challenging to adapt AQM parameters in response to dynamic network scenarios with varying roundtrip time, link capacity and traffic load. In order to maintain a stable queue with desired performance...

    Provided By Fordham University