University of Nottingham

Displaying 1-40 of 94 results

  • White Papers // May 2014

    A Flexible Framework for Assessing the Quality of Crowdsourced Data

    Crowdsourcing as a means of data collection has produced previously unavailable data assets and enriched existing ones, but its quality can be highly variable. This presents several challenges to potential end users that are concerned with the validation and quality assurance of the data collected. Being able to quantify the...

    Provided By University of Nottingham

  • White Papers // Oct 2012

    Performance Analysis and Energy Efficiency of Random Network Coding in LTE-Advanced

    Recent trends witness the shift of the 3GPP Long Term Evolution - Advanced (LTE-A) Radio Access Network (RAN) architecture from traditional a macro-cellular layout towards smaller base stations moving closer to end users. The evolved LTE-A RAN offers rich environment for multi-point and multihop cooperation and coordination resulting in increased...

    Provided By University of Nottingham

  • White Papers // Sep 2012

    Security Analysis Regarding Cross-Site Scripting on Internet Explorer

    Software development focuses on delivering applications with minimal resources. Architects and developers want to produce and deploy applications, ready to be executed, in a short amount of time and only with the strictly necessary resources. This paper is to provide an exact evaluation of cross site scripting vulnerabilities on security,...

    Provided By University of Nottingham

  • White Papers // Feb 2012

    Utilizing Social Links for Location Privacy in Opportunistic Delay-Tolerant Networks

    This paper is concerned with improving location-privacy for users accessing location-based services in opportunistic DTNs. The authors design a protocol that offers location privacy through request/reply location obfuscation technique that uses the nodes' own social network to drive the forwarding heuristic. They propose a fully distributed Social-based Location Privacy Protocol...

    Provided By University of Nottingham

  • White Papers // Jan 2012

    Unequal Error Protection Random Linear Coding Strategies for Erasure Channels

    In this paper, the authors provide the performance analysis of Unequal Error Protection (UEP) Random Linear Coding (RLC) strategies designed for transmission of source messages containing packets of different importance over lossy packet erasure links. By introducing the probabilistic encoding framework, they first derive the general performance limits for the...

    Provided By University of Nottingham

  • White Papers // Oct 2011

    Tabu Assisted Guided Local Search Approaches for Freight Service Network Design

    The Service Network Design Problem (SNDP) is a core problem in freight transportation. It involves the determination of the most cost-effective transportation network and the characteristics of the corresponding services, subject to various constraints. The scale of the problem in real-world applications is usually very large, especially when the network...

    Provided By University of Nottingham

  • White Papers // Oct 2011

    Representing Contractive Functions on Streams

    Streams, or infinite lists, have many applications in functional programming, and are naturally defined using recursive equations. But how do the user ensure that such equations make sense, i.e., that they actually produce well-defined streams? In this paper, the authors present a new approach to this problem, based upon the...

    Provided By University of Nottingham

  • White Papers // Sep 2011

    Towards Modular Compilers for Effects

    Compilers are traditionally factorised into a number of separate phases, such as parsing, type checking, code generation, etc. However, there is another potential factorisation that has received comparatively little attention: the treatment of separate language features, such as mutable state, input/output, exceptions, concurrency and so forth. In this paper, the...

    Provided By University of Nottingham

  • White Papers // Aug 2011

    Erasure Coding With Replication to Defend Against Malicious Attacks in DTN

    Privacy and security in Delay-Tolerant Networks (DTNs) have been an active research topic in the recent years, especially, as people can be involved in these networks and use their mobile devices to forward each other's messages. Such communications require forwarding algorithms that often include replication or context awareness. In this...

    Provided By University of Nottingham

  • White Papers // Jul 2011

    Formal Verification of Embedded Software Based on Software Compliance Properties and Explicit Use of Time

    The complexity of embedded software running in modern distributed large-scale systems is going so high that it becomes hardly manageable by humans. Formal methods and the supporting tools are offering effective means for mastering complexity, and therefore they are remaining to be an important subject of intensive research and development...

    Provided By University of Nottingham

  • White Papers // May 2011

    Unleashing the Power of Mobile Cloud Computing Using ThinkAir

    Smartphones have exploded in popularity in recent years, becoming ever more sophisticated and capable. As a result, developers worldwide are building increasingly complex applications that require ever increasing amounts of computational power and energy. In this paper, the authors propose ThinkAir, a framework that makes it simple for developers to...

    Provided By University of Nottingham

  • White Papers // May 2011

    Business Process Performance Management: Theoretical and Methodological Approach and Implementation

    A process must have appropriate objectives and structure enabling it to function teleologically and efficiently. To function performantly, a process must be managed appropriately. Business Process Management (BPM) includes: target management, which includes functional sub-targets at each critical project stage; performance management, which includes receiving regular feedback on the process...

    Provided By University of Nottingham

  • White Papers // May 2011

    The Effect Of Monetary Policy On Investors - Risk Perception: Evidence From The UK And Germany

    The authors use vector autoregressive models to estimate the effect of monetary policy on investors' risk aversion. The latter is proxied by a variety of option based implied volatility indices for Germany and the UK. There is clear evidence of a procyclical response between monetary policy and risk aversion. Monetary...

    Provided By University of Nottingham

  • White Papers // Apr 2011

    Web Usage Association Rule Mining System

    Web usage log files generated on web servers contain huge amount of information that can be used for discovering web usage association rules, which can potentially give useful knowledge to the web usage data analysts. Association rule over-generation is a common problem in association rule mining that is further aggravated...

    Provided By University of Nottingham

  • White Papers // Apr 2011

    A Fuzzy Toolbox for the R Programming Language

    In this paper, the authors describe the main functionality of an initial version of a new fuzzy logic software toolkit based on the R language. The toolkit supports the implementation of several types of fuzzy logic inference systems and they discuss and present several aspects of its capabilities to allow...

    Provided By University of Nottingham

  • White Papers // Mar 2011

    Migration And Capital Accumulation: Evidence From Rural Mexico

    This paper studies the link between migration, remittances and productive assets accumulation for a panel of poor rural households in Mexico over the period 1997- 2006. In a context of financial markets imperfections, migration may act as a substitute for imperfect credit and insurance provision (through remittances from migrants) and,...

    Provided By University of Nottingham

  • White Papers // Mar 2011

    Learning The Optimal Buffer-Stock Consumption Rule Of Carroll

    This paper questions the rather pessimistic conclusions of Allen and Carroll (2001) about the ability of consumer to learn the optimal buffer-stock based consumption rule. To this aim, the authors develop an agent based model where alternative learning schemes can be compared in terms of the consumption behaviour that they...

    Provided By University of Nottingham

  • White Papers // Feb 2011

    China In The World Economy: Internal Challenge And International Challenges

    This paper aims at investigating the spatial dimension of the FDI. Considering the distribution of FDI between the provinces, the purpose is the spatial dependency that may be observed. Using data for 1992-2002, the authors find that taking into account the regional specification induces significant FDI convergence process between Chinese...

    Provided By University of Nottingham

  • White Papers // Feb 2011

    Long-Run Relationships Between International Stock Prices: Further Evidence From Fractional Cointegration Tests

    The recent empirical literature supports the view that most of the international stock prices are not pairwise co-integrated. However, by using fractional co-integration techniques, this paper shows that France, Germany, Hong Kong, and Japan stock prices indices are pairwise fractionally co-integrated with US stock prices. Equilibrium errors are mean reverting...

    Provided By University of Nottingham

  • White Papers // Feb 2011

    On The Strategic Use Of Representative Democracy In International Agreements

    The authors consider as endogenous the choice of the delegation' rule in a political integration process between two countries. They study three potential types of delegation: strong, weak or no delegation, this last case corresponding to a referendum. They show that populations decide to bind themselves by delegating the national...

    Provided By University of Nottingham

  • White Papers // Feb 2011

    Financial Development, Economic Efficiency And Productivity Growth: Evidence From China

    Financial development may lead to productivity improvement in developing countries. In this paper, based on the Data Envelopment Analysis (DEA) approach, the authors use the Malmquist index to measure China's total factor productivity change and its two components (i.e., efficiency change and technical progress). They find that China has recorded...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Purchasing Power Parity And The Long Memory Properties Of Real Exchange Rates: Does One Size Fit All?

    This paper examines the time series behavior of monthly bilateral Real Exchange Rates (RER) on a comprehensive sample of 78 industrialized and developing countries, using the U.S. Dollar, the UK Pound and the German Deutsche Mark as numeraires. The authors suggest a three step testing procedure based on recently introduced...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Leadership In Public Good Provision: A Timing Game Perspective

    The authors address in this paper the issue of leadership when two governments provide public goods to their constituencies with cross border externalities as both public goods are valued by consumers in both countries. They study a timing game between two different countries: before providing public goods, the two policymakers...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Financial Reforms, Growth And Regional Disparity In Post-Reform China

    In this paper, by employing the Generalized Method of Moment (GMM) techniques and Chinese provincial level data from 1991 to 2003, the authors empirically investigate the relationship between finance and growth in post-reform China. They find that financial development significantly promotes economic growth in coastal regions but not in inland...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Fiscal Policy Space And Economic Performance: Some Stylized Facts

    This paper complements the cross-country approach by examining the correlates of GDP per capita growth acceleration around "Significant" public expenditure episodes by reorganizing the data around turning points, or "Events". Here the authors define a growth event as an increase in average per capita growth of at least 2 percentage...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Can Domestic Debt Contribute To The Financing Of The "Millennium Development Goals" ? The Case Of The West African Economic And Monetary Union (WAEMU)

    Developing countries are being urged to extent public spending to reach The Millennium Development Goals (MDGs). Following a series of debt cancellations, the public debt of many developing countries has reached low levels, so that external borrowing is a plausible option. However, developing countries can not exclusively rely on external...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Explaining Trade Flows: Traditional And New Determinants Of Trade Patterns

    An empirical tradition in international trade seeks to establish whether the predictions of factor abundance theory match with the data. The relation between factor endowments and trade in goods (commodity version of Hecksher-Ohlin) provide mildly encouraging empirical results. But in the analysis of factor service trade and factor endowments (factor...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Aid, Volatility And Growth, With Special Reference To Africa

    In two previous papers the authors have argued that aid is likely to mitigate the negative effects of external shocks on economic growth (i.e. that aid is more effective in countries which are more vulnerable to external shocks). Recently an important debate has emerged about the possible negative effects of...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Real Exchange Rates And China's Bilateral Exports Towards Industrialized Countries

    A bilateral export demand function is developed to study the effects on the Chinese bilateral exports of three real exchange rates, corresponding respectively to the price-competitiveness of Chinese products on the market of the considered import country (traditional effect), on China's other export markets (pricing-to-market effect), and to the price-competitiveness...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    When Unstable, Growth Is Less Pro Poor

    Macroeconomic instability has been increasingly considered as a factor lowering average income growth and by this way is a factor slowing down poverty reduction. But it can also result in slower poverty reduction for a given average rate of growth, due to poverty traps, often examined at the microeconomic level....

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Property Rights And Deforestation In The Brazilian Amazon

    This paper focuses on the impact of property rights insecurity on deforestation in the Brazilian Legal Amazon. Deforestation is considered as a risk management strategy: property rights insecurity reduces the present value of forests and fosters forest conversion into agricultural and pasture lands. Moreover, deforestation is the consequence of strategic...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Corruption, Taxation And Economic Growth: Theory And Evidence

    In this paper, the authors analyze the interaction between corruption, taxation and economic growth. These contributions are twofold. Theoretically, in an endogenous growth model, they introduce corruption in two different ways: corruption in the public expenditure and corruption in the public revenue. They show two opposing effects. Under certain conditions,...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Assessing The World Bank's Influence On The Good Governance Paradigm

    What does governance mean for the World Bank (WB) and how far does the organization influence the world community with this concept? The World Bank primarily focused on economic aspects of governance in the 1980s and progressively moved to its political dimensions in the end of 1990s. The paper discusses...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Common Reasoning In Games: A Lewisian Analysis Of Common Knowledge Of Rationality

    The game-theoretic assumption of 'Common knowledge of rationality' leads to paradoxes when rationality is represented in a Bayesian framework as Cautious Expected Utility maximisation with independent beliefs (ICEU). The authors diagnose and resolve these paradoxes by presenting a new class of formal models of players' reasoning, inspired by David Lewis's...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    OECD Imports: Diversification And Quality Search

    This paper explores the evolution of OECD imports over time and as a function of income levels, measuring the concentration of those imports across origin countries at the product level. The authors find evidence of diversification followed, in the very last years of the sample period (post-2000), by a slight...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Does Inflation Targeting Improve Fiscal Discipline? An Empirical Investigation

    This paper highlights the effect of Inflation Targeting - IT- on Fiscal Discipline - FD-. These results are robust to alternative specifications - using Propensity Score Matching Method, "System GMM" estimator, LAD estimator and applying 2SLS on annual data rather than triennial averages data-these results could contribute importantly to the...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Disinflation Against The Environment? An Application To The Trade-Off Between Seigniorage And Deforestation

    The forest still covers an important share of land area in many developing countries and represents an important source of revenue for governments. Another major contribution to government revenues comes from printing money, namely the seignior age. Building on a simple theoretical model where governments target inflation and aim at...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Exchange Rate Undervaluation To Foster Manufactured Exports: A Deliberate Strategy?

    Recent literature suggests that a proactive strategy consisting of deliberate real exchange rate depreciation can promote exports diversification and growth. This paper is built on these recent developments and investigates whether four developing countries have adopted such a strategy. Data from Egypt, Jordan, Morocco and Tunisia are used to construct...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    West African Monetary Integration And Interstates Risk-Sharing

    There are continuing efforts at the monetary integration and unionization in West Africa. Several academics argue that a monetary union among West African states would be costly because of the magnitude of asymmetric shocks. A common monetary policy is inappropriate and ineffective to respond to divergent shocks. Therefore, the stability...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Income Growth, Price Variation And Health Care Demand: A Mixed Logit Model Applied To Tow-Period Comparison In Rural China

    1989-2006 is a period of the start and the end of deregulation of Chinese health care sector and of disintegration of rural cooperative insurance system. During this period, the government health policy has turned healthcare providers all alike into profit seeking entities. Face to perverse effects, by 2003, Chinese government...

    Provided By University of Nottingham

  • White Papers // Apr 2006

    Mobile Ad Hoc Networking Approach To Detecting And Querying Events Related To Farm Animals

    This paper explains a mobile ad hoc networking approach to detecting and querying events related to farm animals such as oestrus, animal diseases and decreased efficiency of pastures. This problem is essential because inattention to the health or welfare of the animals can lead to reduced productivity and death of...

    Provided By University of Nottingham

  • White Papers // Mar 2010

    Multiscale not Multicore: Efficient Heterogeneous Cloud Computing

    In this paper, authors present a vision of the future of heterogeneous cloud computing. Ours is a cleanslate approach, sweeping away decades of accreted system software. They believe the advent of the latest technology discontinuity - the move to the virtual cloud - makes this a necessary step to take,...

    Provided By University of Nottingham

  • White Papers // Jan 2010

    Against Spyware Using CAPTCHA in Graphical Password Scheme

    With the aim of introducing new schemes with graphical passwords, this paper proposes CAPTCHA that is a text-based scheme. Text-based password schemes are provided with in-built security and usability problems that lead to the growth of graphical password schemes. Most of these schemes are exposed to spyware attacks. Completely Automated...

    Provided By University of Nottingham

  • White Papers // Sep 2010

    Market Entry Costs, Underemployment And International Trade

    The authors develop a small, open economy, two-sector model with heterogeneous agents and endogenous participation in a labor matching market. They analyze the implications of asymmetric market entry costs for the patterns of international trade and underemployment. Furthermore, they examine the welfare implications of trade liberalization and find that under...

    Provided By University of Nottingham

  • White Papers // Sep 2010

    Financial Analysis Analogies for Software Risk

    A dynamic software risk assessment model is presented. Analogies between dynamic financial analysis and software risk assessment models are established and based on these analogies it suggested that dynamic risk model for software projects is the way to move forward for the risk assessment of software project. It is shown...

    Provided By University of Nottingham

  • White Papers // Mar 2009

    Web-Based Caregiver Monitoring System for Assisting Visually Impaired People

    This paper presents a web-based caregiver monitoring system for assisting visually impaired people. The objective of this system is to assist blind and low vision people to walk around independently and safely in transportation centers by providing speech guidance on their current location and navigation information on how to move...

    Provided By University of Nottingham

  • White Papers // Dec 2009

    Sustainable Supply Chain Management In City Logistics Solutions: An Experience~s Comeback From Cityporto Padua (Italy)

    The sustainable logistics and transportation studies constitute a primordial research axis in the enterprises' governance. In the last years, many reflections and developments in logistics research have studied the economic and the environmental questions related to supply chain management, but only few of them consider sustainability in its totality. Moreover,...

    Provided By University of Nottingham

  • White Papers // Mar 2010

    Employment And Productivity: Disentangling Employment Structure And Qualification Effects

    This paper studies the effect of changes in the employment rate on labour productivity per hour, taking an empirical approach. By splitting the workforce into three qualification categories, this study allows to distinguish the effects of changes in the employment rate structure from those of changes in the qualification structure....

    Provided By University of Nottingham

  • White Papers // Mar 2010

    Skills And Financial Incentives: Matching Funds Providers And Syndicates In Venture Capital Investments

    Venture Capital investments combine skills and financial risks. The capacity of financial intermediaries to assume financial risk has to meet managerial skills able to screen the projects, then to increase the number and the return of the successful projects among the selected ones. The screening tasks are devoted in seed...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    When Unstable, Growth Is Less Pro Poor

    Macroeconomic instability has been increasingly considered as a factor lowering average income growth and by this way is a factor slowing down poverty reduction. But it can also result in slower poverty reduction for a given average rate of growth, due to poverty traps, often examined at the microeconomic level....

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Property Rights And Deforestation In The Brazilian Amazon

    This paper focuses on the impact of property rights insecurity on deforestation in the Brazilian Legal Amazon. Deforestation is considered as a risk management strategy: property rights insecurity reduces the present value of forests and fosters forest conversion into agricultural and pasture lands. Moreover, deforestation is the consequence of strategic...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Leadership In Public Good Provision: A Timing Game Perspective

    The authors address in this paper the issue of leadership when two governments provide public goods to their constituencies with cross border externalities as both public goods are valued by consumers in both countries. They study a timing game between two different countries: before providing public goods, the two policymakers...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Financial Reforms, Growth And Regional Disparity In Post-Reform China

    In this paper, by employing the Generalized Method of Moment (GMM) techniques and Chinese provincial level data from 1991 to 2003, the authors empirically investigate the relationship between finance and growth in post-reform China. They find that financial development significantly promotes economic growth in coastal regions but not in inland...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Fiscal Policy Space And Economic Performance: Some Stylized Facts

    This paper complements the cross-country approach by examining the correlates of GDP per capita growth acceleration around "Significant" public expenditure episodes by reorganizing the data around turning points, or "Events". Here the authors define a growth event as an increase in average per capita growth of at least 2 percentage...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Can Domestic Debt Contribute To The Financing Of The "Millennium Development Goals" ? The Case Of The West African Economic And Monetary Union (WAEMU)

    Developing countries are being urged to extent public spending to reach The Millennium Development Goals (MDGs). Following a series of debt cancellations, the public debt of many developing countries has reached low levels, so that external borrowing is a plausible option. However, developing countries can not exclusively rely on external...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Explaining Trade Flows: Traditional And New Determinants Of Trade Patterns

    An empirical tradition in international trade seeks to establish whether the predictions of factor abundance theory match with the data. The relation between factor endowments and trade in goods (commodity version of Hecksher-Ohlin) provide mildly encouraging empirical results. But in the analysis of factor service trade and factor endowments (factor...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Global Burden Of Disease And Economic Growth

    Relationships between health and economic prosperity or economic growth are difficult to assess. The direction of the causality is often questioned and the subject of a vigorous debate. For some authors, diseases or poor health had contributed to poor growth performances especially in low income countries. For other authors, the...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Income Growth, Price Variation And Health Care Demand: A Mixed Logit Model Applied To Tow-Period Comparison In Rural China

    1989-2006 is a period of the start and the end of deregulation of Chinese health care sector and of disintegration of rural cooperative insurance system. During this period, the government health policy has turned healthcare providers all alike into profit seeking entities. Face to perverse effects, by 2003, Chinese government...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Capital Flows And Their Impact On The Real Effective Exchange Rate

    This paper analyzes the impact of capital inflows and the exchange rate regime on the real effective exchange rate. A wide range of developing countries (42 countries) is considered with estimation based on panel co-integration techniques. The results show that both public and private inflows cause the real effective exchange...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Disinflation Against The Environment? An Application To The Trade-Off Between Seigniorage And Deforestation

    The forest still covers an important share of land area in many developing countries and represents an important source of revenue for governments. Another major contribution to government revenues comes from printing money, namely the seignior age. Building on a simple theoretical model where governments target inflation and aim at...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Exchange Rate Undervaluation To Foster Manufactured Exports: A Deliberate Strategy?

    Recent literature suggests that a proactive strategy consisting of deliberate real exchange rate depreciation can promote exports diversification and growth. This paper is built on these recent developments and investigates whether four developing countries have adopted such a strategy. Data from Egypt, Jordan, Morocco and Tunisia are used to construct...

    Provided By University of Nottingham

  • White Papers // Feb 2011

    Long-Run Relationships Between International Stock Prices: Further Evidence From Fractional Cointegration Tests

    The recent empirical literature supports the view that most of the international stock prices are not pairwise co-integrated. However, by using fractional co-integration techniques, this paper shows that France, Germany, Hong Kong, and Japan stock prices indices are pairwise fractionally co-integrated with US stock prices. Equilibrium errors are mean reverting...

    Provided By University of Nottingham

  • White Papers // Feb 2011

    China In The World Economy: Internal Challenge And International Challenges

    This paper aims at investigating the spatial dimension of the FDI. Considering the distribution of FDI between the provinces, the purpose is the spatial dependency that may be observed. Using data for 1992-2002, the authors find that taking into account the regional specification induces significant FDI convergence process between Chinese...

    Provided By University of Nottingham

  • White Papers // Mar 2011

    Learning The Optimal Buffer-Stock Consumption Rule Of Carroll

    This paper questions the rather pessimistic conclusions of Allen and Carroll (2001) about the ability of consumer to learn the optimal buffer-stock based consumption rule. To this aim, the authors develop an agent based model where alternative learning schemes can be compared in terms of the consumption behaviour that they...

    Provided By University of Nottingham

  • White Papers // Mar 2011

    Migration And Capital Accumulation: Evidence From Rural Mexico

    This paper studies the link between migration, remittances and productive assets accumulation for a panel of poor rural households in Mexico over the period 1997- 2006. In a context of financial markets imperfections, migration may act as a substitute for imperfect credit and insurance provision (through remittances from migrants) and,...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Aid, Volatility And Growth, With Special Reference To Africa

    In two previous papers the authors have argued that aid is likely to mitigate the negative effects of external shocks on economic growth (i.e. that aid is more effective in countries which are more vulnerable to external shocks). Recently an important debate has emerged about the possible negative effects of...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Real Exchange Rates And China's Bilateral Exports Towards Industrialized Countries

    A bilateral export demand function is developed to study the effects on the Chinese bilateral exports of three real exchange rates, corresponding respectively to the price-competitiveness of Chinese products on the market of the considered import country (traditional effect), on China's other export markets (pricing-to-market effect), and to the price-competitiveness...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Purchasing Power Parity And The Long Memory Properties Of Real Exchange Rates: Does One Size Fit All?

    This paper examines the time series behavior of monthly bilateral Real Exchange Rates (RER) on a comprehensive sample of 78 industrialized and developing countries, using the U.S. Dollar, the UK Pound and the German Deutsche Mark as numeraires. The authors suggest a three step testing procedure based on recently introduced...

    Provided By University of Nottingham

  • White Papers // Feb 2011

    On The Strategic Use Of Representative Democracy In International Agreements

    The authors consider as endogenous the choice of the delegation' rule in a political integration process between two countries. They study three potential types of delegation: strong, weak or no delegation, this last case corresponding to a referendum. They show that populations decide to bind themselves by delegating the national...

    Provided By University of Nottingham

  • White Papers // Feb 2011

    Financial Development, Economic Efficiency And Productivity Growth: Evidence From China

    Financial development may lead to productivity improvement in developing countries. In this paper, based on the Data Envelopment Analysis (DEA) approach, the authors use the Malmquist index to measure China's total factor productivity change and its two components (i.e., efficiency change and technical progress). They find that China has recorded...

    Provided By University of Nottingham

  • White Papers // Apr 2010

    Trade Liberalization, Competition And Growth

    For a few decades, a growing literature has examined the role of water resources in interstate conflicts. In line with this literature, this study analyzes the risk of a conflict between countries sharing freshwater. While some scholars claim that water based conflicts can never occur, this analysis determines this risk...

    Provided By University of Nottingham

  • White Papers // Jul 2010

    Capital Requirements For Operational Risk: An Incentive Approach

    This paper proposes a simple continuous time model to analyze capital charges for operational risk. The authors find that undercapitalized banks have fewer incentives to reduce their operational risk exposure. They view operational risk charge as a tool to reduce the moral hazard problem. These results show that only Advanced...

    Provided By University of Nottingham

  • White Papers // Aug 2010

    Moral Hazard And Risk-Sharing: Risk-Taking As An Incentive Tool

    The authors examine how moral hazard impacts risk-sharing when risk-taking can be part of the mechanism design. In a two-agent model with binary e ort, they show that moral hazard always increases risk-taking (that is the amount of wealth invested in a risky project) whereas the effect on risk-sharing (the...

    Provided By University of Nottingham

  • White Papers // Dec 2010

    Employee Ownership As A Signal Of Management Quality

    The employees' decision to become shareholder of the company they work for can be a consequence of employers' matching contribution in company stock. From a behavioral perspective, employees would regard these contributions as an implicit investment advice made by their employer. This paper adopts another viewpoint. Since employee ownership can...

    Provided By University of Nottingham

  • White Papers // Nov 2010

    Is History A Blessing Or A Curse? International Borrowing Without Commitment, Leapfrogging And Growth Reversals

    The authors develop a simple open-economy AK model with collateral constraints that accounts for growth-reversal episodes, during which countries face abrupt changes in their growth rate that lead to either growth miracles or growth disasters. Absent commitment to investment by the borrowing country, imperfect contract enforcement leads to an informational...

    Provided By University of Nottingham

  • White Papers // Dec 2010

    Testing The Finance-Growth Link: Is There A Difference Between Developed And Developing Countries?

    The authors revisit the evidence of the existence of a long -run link between financial intermediation and economic growth, by testing of co-integration between the growth rate of real GDP, control variables and three series reflecting financial intermediation. They consider a model with a factor structure that allows to determining...

    Provided By University of Nottingham

  • White Papers // Nov 2010

    Does A Banking Relationship Help A Firm On The Syndicated Loans Market In A Time Of Financial Crisis?

    The volume of credit granted in the form of syndicated loans saw a marked downturn in 2008. This paper seeks to understand how certain firms were nonetheless able to benefit from larger facilities or a lower interest rate than others. Using a sample of syndicated loans issued in 2008 in...

    Provided By University of Nottingham

  • White Papers // Dec 2010

    Get Paid More, Work More? Lessons From French Physicians~ Labour Supply Responses To Hypothetic Fee Increases

    This paper is devoted to the analysis of the General Practitioners' (GPs) labour supply, specifically focusing on the physicians' labour supply responses to higher compensations. This analysis is mainly aimed at challenging the reality of a 'Backward bending' form for the labour supply of GPs. Because GPs' fees only evolve...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    West African Monetary Integration And Interstates Risk-Sharing

    There are continuing efforts at the monetary integration and unionization in West Africa. Several academics argue that a monetary union among West African states would be costly because of the magnitude of asymmetric shocks. A common monetary policy is inappropriate and ineffective to respond to divergent shocks. Therefore, the stability...

    Provided By University of Nottingham

  • White Papers // Jan 2011

    Does Inflation Targeting Improve Fiscal Discipline? An Empirical Investigation

    This paper highlights the effect of Inflation Targeting - IT- on Fiscal Discipline - FD-. These results are robust to alternative specifications - using Propensity Score Matching Method, "System GMM" estimator, LAD estimator and applying 2SLS on annual data rather than triennial averages data-these results could contribute importantly to the...

    Provided By University of Nottingham