University of Nottingham

Displaying 1-40 of 113 results

  • 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...

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  • 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,...

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  • 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...

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  • 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...

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  • 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...

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  • 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...

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  • 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...

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  • 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...

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  • 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...

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  • 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...

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  • 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...

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  • 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,...

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  • 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....

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  • 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

    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

    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

    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...

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  • 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...

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  • 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...

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  • 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...

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  • 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...

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  • 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...

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  • White Papers // Jan 2009

    Financial Development And Instability: The Role Of The Labour Share

    This paper examines the role of the labour share in creating instability in a small open economy. The authors assume that financial markets are imperfect so that entrepreneurs are credit constrained, and that this constraint is tighter for low levels of financial development. Aghion, Bacchetta and Banerjee (2004) have shown...

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  • White Papers // Apr 2010

    Trade Liberalisation And Human Capital Adjustment

    This paper highlights the way in which workers of different age and ability are affected by anticipated and unanticipated trade liberalisations. A two-factor (skilled and unskilled labour), two-sector Heckscher-Ohlin trade model is supplemented with a education sector which uses skilled labour and time to convert unskilled workers into skilled workers....

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  • White Papers // Jun 2010

    Weighing Chinas Export Basket: An Account Of The Chinese Export Boom, 2000 - 2007

    In this paper the authors use new, detailed and comprehensive linked firm-product data to describe various dimensions of the Chinese export boom from 2000-2007. The analysis indicates that firm entry played a larger role in China's export boom than is the case in other countries, and that processing firms were...

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  • White Papers // Sep 2010

    Financial Constraints, The Distribution Of Wealth And International Trade

    The authors develop a simple theoretical model to examine the impact of the distribution of wealth on the patterns of trade when capital markets are imperfect. The model predicts that the dispersion of wealth can be a determinant of comparative advantage for low-income countries with poor financial institutions. They find...

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  • White Papers // Nov 2010

    Domestic Entry, International Trade Cost Reduction And Welfare

    The authors show the welfare effects of international trade cost reduction under endogenous domestic market structure. If the domestic labour market is competitive, there is no integer constraint and the trade cost represents transportation cost, a reduction in the transportation cost does not affect (may reduce) domestic welfare if the...

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  • White Papers // Nov 2010

    Governance, Foreign Direct Investment And Domestic Welfare

    The issue of economic governance is highly discussed pertaining to the question of industrialisation of a country, but the literature on trade and Foreign Direct Investment (FDI) hardly pays attention to this aspect. The authors develop a simple model to show how better governance affects inward FDI and domestic welfare....

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  • White Papers // Nov 2008

    Internal Finance And Growth: Microeconometric Evidence On Chinese Firms

    Does the availability of internal finance constrain firm growth? Or does it foster it? To answer these questions, the authors use a panel of 407,096 Chinese firms over the period 2000-2005. They estimate dynamic assets growth equations augmented with cash flow, and find that the growth of state owned enterprises...

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  • White Papers // Aug 2009

    Key Elements Of Global Inflation

    Against the background of large fluctuations in world commodity prices and global growth, combined with ongoing structural changes relating to globalization, this paper examines some of the key factors affecting global inflation. The paper empirically investigates various relative price and structural impacts on global inflation by: estimating a GVAR to...

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  • White Papers // Nov 2009

    Environmental Regulations, Outward FDI And Heterogeneous Firms: Are Countries Used As Pollution Havens ?

    The authors consider whether pollution-intensive FDI tends to outflow from a country which maintains stringent environmental regulations and into countries with weak environmental regulations. They consider this issue by incorporating the predictions from the recent heterogeneous firm models of international trade into an empirical model of outward FDI by UK...

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  • White Papers // Apr 2010

    Does High-Tech Export Cause More Technology Spillover? Evidence From Contemporary China

    This paper attempts to investigate whether high-tech product export causes more technology spillover compared with traditionally primary manufactured goods export. A generalized multi-sector spillover model is presented to involve the causations of export composition and technology spillover, which is based on two distinctive approaches of measuring technology spillover: "Between-spillover" and...

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  • White Papers // Mar 2009

    Reciprocity, Culture, And Human Cooperation: Previous Insights And A New Cross-Cultural Experiment

    Understanding the proximate and ultimate sources of human cooperation is a fundamental issue in all behavioural sciences. In this paper the authors review the experimental evidence on how people solve cooperation problems. Existing studies show without doubt that direct and indirect reciprocity are important determinants of successful cooperation. They also...

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  • White Papers // Dec 2008

    Who Makes A Good Leader? Social Preferences And Leading-By-Example

    The authors examine the effects of social preferences and beliefs about the social preferences of others in a simple leader-follower voluntary contributions game. They find that groups perform best when led by those who are reciprocally oriented. Part of the effect can be explained by a false consensus effect: selfish...

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  • White Papers // Feb 2009

    Characterization Of Pure Strategy Equilibria In Uniform Price IPO Auctions

    The authors characterize pure strategy equilibria of common value multi-unit uniform price auctions under the framework of initial public offerings, where bidders have incomplete private information regarding the value of shares and submit discrete demand schedules. They show that there exists a continuum of equilibria where investors with a higher...

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  • White Papers // Oct 2009

    Who Makes A Good Leader? Cooperativeness, Optimism And Leading-By-Example

    The authors examine the characteristics of effective leaders in a simple leader-follower voluntary contributions game. They focus on two factors: the individual's cooperativeness and the individual's beliefs about the cooperativeness of others. They find that groups perform best when led by those who are cooperatively inclined. Partly this reflects a...

    Provided By University of Nottingham

  • White Papers // May 2010

    Networks And Markets: The Dynamic Impacts Of Information, Matching And Transaction Costs On Trade

    The purpose of this paper is to explore strategic incentives to use trade networks rather than markets and shed light on the dynamic relation between the two distinct trading systems: a formal system of markets and a decentralised system of networks. The authors investigate the issues in the infinitely repeated...

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  • White Papers // May 2010

    Culture And Cooperation

    Does the cultural background influence the success with which genetically unrelated individuals cooperate in social dilemma situations? In this paper the authors provide an answer by analyzing the data of Herrmann et al. (Science 2008, pp. 1362-1367), who study cooperation and punishment in sixteen subject pools from six different world...

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  • White Papers // Sep 2010

    The Framing Of Games And The Psychology Of Play

    Psychological game theory can provide rational-choice-based framing effects; frames influence beliefs, beliefs influence motivations. The authors explain this theoretically and explore empirical relevance experimentally. In a 2?2 design of one-shot public good games they show that frames affect subject's first- and second-order beliefs, and contributions. From a psychological game theoretic...

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  • White Papers // Oct 2010

    Are Smarter People Really Less Risk Averse?

    Using hypothetical lottery choices to measure risk preferences, Frederick (2005) finds that higher cognitive ability is associated with less risk aversion. This paper documents, however, that when using an incentive compatible measure of risk preference, attitudes towards risk are not associated to cognitive ability as measured by Frederick's (2005) three-item...

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  • White Papers // Nov 2010

    Individual-Level Loss Aversion In Riskless And Risky Choices

    Loss aversion can occur in riskless and risky choices. Yet, there is no evidence whether people who are loss averse in riskless choices are also loss averse in risky choices. The authors measure individual-level loss aversion in riskless choices in an endowment effect experiment by eliciting both WTA and WTP...

    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 // Oct 2010

    Unclouded Vision

    Current opinion and debate surrounding the capabilities and use of the Cloud is particularly strident. By contrast, the academic community has long pursued completely decentralised approaches to service provision. In this paper the authors contrast these two extremes, and propose an architecture, Droplets, that enables a controlled trade-off between the...

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  • White Papers // Aug 2010

    Sociology, Structuration, And Understanding Business Networks

    The purpose of this paper is to examine how one of the most cited theories in sociology, Structuration Theory, may help inform the understanding of business networks and how they function. Structuration theory deals with the creation and maintenance of ideas and structures as well as with change and continuity...

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  • White Papers // Jan 2011

    Exports, Investment And Firm-Level Sales Volatility

    This paper presents a dynamic model of risk-averse producers' decision to invest in physical capital and to export. The model features irreversible investment, no capital markets and fixed and sunk costs to export. Several features of the distribution of investment rates and export participation patterns observed in firm-level data are...

    Provided By University of Nottingham

  • White Papers // Sep 2010

    Offshoring And Growth With Two Factors

    Offshoring has received a lot of attention lately. However, the debate is largely confined to the static effects. This paper shows that there are important implications of offshoring on the growth rate in an economy. In this paper, the author shows that offshoring a larger share of unskilled workers tasks,...

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  • White Papers // Dec 2008

    Growth And Welfare Maximization In Models Of Public Finance And Endogenous Growth

    This paper evaluates the trade-off between growth and welfare maximization from two perspectives. Firstly, it synthesizes and extends endogenous growth models with public finance to compare the growth and welfare maximizing tax rates. Secondly, it examines the distinct model outcomes in terms of the growth rates and welfare levels. This...

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  • White Papers // Dec 2008

    Business Perceptions, Fiscal Policy And Growth

    This paper develops endogenous growth models in which the government uses income taxation to finance different types of public services, public investment, or both. The paper then assesses the merits of business perceptions of alternative fiscal-policy related growth constraints as guides for imperfectly informed governments. The models demonstrate that business...

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  • White Papers // Nov 2009

    Immigrant Links, Diasporas And FDI. An Empirical Investigation On Five European Countries

    This paper studies the effects of migration on the bilateral FDI of France, Germany, Italy, Spain and the UK. By using five datasets covering different time spans going from 1990 to 2006, it analyses the effect on FDI of networks of immigrants from developed and developing countries and, for Italy...

    Provided By University of Nottingham

  • White Papers // Nov 2008

    Firm Heterogeneity And Choice Of Ownership Structure: An Empirical Analysis Of German FDI In India

    The authors contribute to the literature on the heterogeneity of MultiNational Enterprises (MNEs) and the relevance of firm characteristics for analyzing the determinants of outward Foreign Direct Investment (FDI). The focus is on the role of firm-level heterogeneity when MNEs decide on the share of ownership in foreign affiliates. They...

    Provided By University of Nottingham

  • White Papers // Dec 2008

    Slicing The Value Chain Internationally: Empirical Evidence On The Offshoring Strategy By French Firms

    This paper analyzes the offshoring strategy from an empirical view. It focuses on firm heterogeneity, asset specificity and search costs. On the basis of theoretical models, it extracts a set of testable hypotheses and creates a suitable set of variable to test their validity. This analysis is based on a...

    Provided By University of Nottingham

  • White Papers // Dec 2009

    The Role Of Bond Finance In Firms' Survival During The Asian Crisis

    In this paper, the authors assess the effects of bond financing on firms' survival during the 1997-98 Asian crisis. Using a novel database covering the period 1995 to 2007 for five Asian economies most affected by the crisis - Indonesia, Korea, Malaysia, Singapore and Thailand - they find strong evidence...

    Provided By University of Nottingham

  • White Papers // Feb 2009

    Can Public Employment Subsidies Render The German Construction Sector Weather Proof?

    Both the US and Germany have a pronounced pattern of seasonal winter unemployment. In order to confine inefficient high levels of temporary layoffs, US firms are taxed - albeit incompletely - according to the unemployment insurance benefits claimed by their laid off workers. In contrast, German construction firms are not...

    Provided By University of Nottingham

  • White Papers // Jun 2010

    Dealing With The Global Crisis: China Among Protectionism And Containment

    In a world experiencing the most severe recession of the postwar period, with a 9% decline in 2009 global trade, China, the second-largest world exporter, has been heavily hit like the whole of Asia. The data available in November 2009 show that Chinese exports were still down by 14% year-on-year,...

    Provided By University of Nottingham

  • White Papers // Dec 2008

    Financial Constraints To The Investment Of Chinese Listed Firms Across Firm Characteristics

    This paper uses a panel of 815 Chinese listed firms from the period of 1998 to 2004 to study how the investment cash flow sensitivity differs across firms with and without state ownership, and firms in different geographical locations. The authors' results suggest that the dependency of investment on cash...

    Provided By University of Nottingham

  • White Papers // Sep 2010

    Investment Shocks And The Comovement Problem

    Recent work based on sticky price-wage estimated Dynamic Stochastic General Equilibrium (DSGE) models suggests investment shocks are the most important drivers of post-World War II US business cycles. Consumption, however, typically falls after an investment shock. This finding sits oddly with the observed business cycle comovement where consumption, along with...

    Provided By University of Nottingham

  • White Papers // Apr 2010

    Investment, Irreversibility, And Financing Constraints In Transition Economies

    Using a panel of 4223 Bulgarian, Czech, Polish, and Romanian firms, over the period 1998-2005, the authors show that financially constrained firms likely to face irreversibility constraints exhibit low and insignificant sensitivities of investment to cash flow. These firms typically use their cash flow to accumulate cash instead of investing....

    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 // Jan 2009

    The Resource Curse And Fiscal Policy Volatility

    Using data from 1980 to 2004, the authors show that greater fiscal policy volatility acts as a transmission mechanism for the 'Resource curse'. Resource exports dominate political and institutional variables as determinants of fiscal policy volatility, with fiscal policy volatility being a significant determinant of growth. The existence of a...

    Provided By University of Nottingham

  • White Papers // Dec 2010

    The Dataware Manifesto

    In this paper, the authors concern themselves with Service-Oriented Architectures (SOA) in the "Business To Consumer" (B2C) arena. In particular they consider the services required to enable consumers to combine data they possess with data held about them by businesses and government. They introduce the concept of dataware as the...

    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