shiller on the yale tradition in macroeconomics

... This conclusion could be questioned by considering that the estimate of the income innovation, ε, depends on the variables included in the econometric specification of the income process In particular, ... of consumption from t to t + that the consumer would accept to avoid the uncertainty on the marginal utility of consumption in t + To obtain the consumption function (and then to determine the ... more: such saving is called precautionary, since it depends on the uncertainty about future consumption ¹⁵ In the basic version of the model, the consumer is interested only in the certainty equivalent...

Ngày tải lên: 09/08/2014, 19:21

... defining response as 50% or more improvement in depression rating scale score) In general, the first approach is taken: the actual change in points is compared in the two groups This is a continuous ... extent the kinds of participants in whom an intervention was evaluated, a leap of faith is always required when applying any study findings to the population with the condition In taking this ... more than one question in a clinical trial But one needs to be clear which questions are secondary ones, and they need to be distinguished from the primary question Their results, whether positive...

Ngày tải lên: 01/11/2013, 11:20

... beginning of the holding period C = cash payment (coupon or dividend) made during the holding period Efficient Markets: Rational Expectations in Financial Markets II At the beginning of the holding ... eliminated • Caveat: Not everyone in an financial market must be well informed about a security or have rational expectations for the efficient market condition to hold Rationale Behind the Theory ... Application: Practical Guide to Investing in the Stock Market • Recommendations from investment advisors cannot help us outperform the market • A hot tip is probably information already contained in the...

Ngày tải lên: 05/01/2014, 16:56

... from the gratuities of patrons In certain hotels the management carries the exploitation to the point of charging the servitors for the privilege of working the patrons The tipping privilege in one ... GENEROSITY There seems to be something about the continual contact of a person serving and a person served that makes the one think the other owes him something on the side A mail carrier will bring ... unerring instinct of human nature they play upon the cupidity of those whom they desire to place in a servile relation A gift of money wins the social distinction they covet Thus the tipping custom...

Ngày tải lên: 17/02/2014, 19:20

... derives In contrast, the bottom half, considered to be the more recently acquired, contains the ‘join’ between the two hairpins, which has altered the conformation of the original hairpin, giving ... lack tRNA introns altogether or possess self-splicing introns at a variety of different positions in the molecule Such a finding is consistent with the introns-early hypothesis, and the proposal ... ancestral self-cleaving intron [49] (as depicted in Figure 1) is the presence of the highly conserved ‘canonical intron insertion position’ between nucleotides 37 and 38 in the anticodon loop [41],...

Ngày tải lên: 13/03/2014, 19:12

... arrangement in resting muscle of the myosin Fig 10 Higher magnification view of very thin longitudinal section on either side of H-zone Axial compression during sectioning distorts relative dimensions, ... hardly changed in muscles which were contracting with substantial shortening [12], confirming that the filaments all remained constant in length However, the myosin layer lines, coming from the helical ... was transmitted to the myosin filament via the S2 portion of the myosin molecule reflections during the onset and decay of contraction in single twitches of frog muscle Nevertheless, we still needed...

Ngày tải lên: 16/03/2014, 16:20

... LOSS-OF-FUNCTION mtDNA MUTATIONS? On closer inspection, however, the selective advantage enjoyed by dysfunctional mtDNA constitutes a challenge to the ÔmtDNA theory of agingÕ, rather than a reinforcement ... that duplications are indeed present in tissue [27,28] Another possibility is that the deleted mtDNA found in the earlier studies [23,24] was in the process of being degraded: the finding [29] that ... expansion in suppressive petite yeast [31].) Similarly, no evidence has yet come to light for functional impairment of mtDNA carrying point mutations in the noncoding D-loop region; some of these...

Ngày tải lên: 17/03/2014, 23:20

... 262 The country was in total …………… as all of the political factions attempted to gain control after the revolution a confusion b confustion c confusment d confusian a 263 In order to make a good ... > d 19 There is some scissors in the desk drawer in the bedroom if you need them a is b scissors c in d in > a 20 The Board of Realtors doesn’t have any informations about the increase in rent ... with d already > d There was a very interesting news on the radio this morning about the earthquake in Italy a There was b a c on the d about > b The professor had already give the homework assignment...

Ngày tải lên: 18/06/2014, 17:20

... epistatic interactions with other non-MHC genes might preferentially occur with only one of these In the ‘hemizygous’ situation of S2/X or S3P/X, the SE acts like a conventional dominant immune response ... because the extremely polymorphic alleles increase the ever-present risk of ethnic stratification in independently selected control groups The paper confirmed that the weight of contribution to ... strongly confirms that virtual genotypes involving certain SE combinations differ in the risk they contribute to the development of RA S2/S3P and S2/S2 in grouped analysis provide remarkably high...

Ngày tải lên: 09/08/2014, 08:22

... similar and the authors did not elaborate in the inclusion criteria on how they were differentiated Also confusing is that inclusion depended on electrodiagnostic confirmation of CTS but they described ... spinal motor neurons are found in the anterior horn of the spinal cord; proximal compression of axons in an anterior (ventral) cervical nerve root and of the same axons in the median nerve at the ... the double crush hypothesis to other nerve compression syndromes Some implicate lesions in the elbow and thoracic outlet as contributing factors in CTS [7], and others have used the DCS hypothesis...

Ngày tải lên: 13/08/2014, 14:20

... , j The symbol i ~ϕ j means that the cells xi and xj share a common edge in the Dirichlet tiling built from the configuration of points in ϕ The shape constraint term corresponds to singleton ... cell sorting and engulfment The constraint shape function h is borrowed from the GG model, and is is defined as in Equation The parameter λ controls the intensity of the shape constraint It also ... on the density of points within the studied region  In the following of this paper we con- At each iteration, the algorithm randomly chooses between three operations: inserting a cell within...

Ngày tải lên: 13/08/2014, 16:21

... receptors on the presynaptic axon terminal (2), inducing receptor activation and the induction of intracellular signaling cascades (3) These signals must travel from the site of initiation to the distant ... direction and inevitable signal elimination In distinct contrast, the retrograde movement of quantal signaling units capable of regenerating the information content of the original stimulus is inherently ... showing the activation of STAT-3 and Erk1/2 downstream from EGF binding to EGFR In the general model of signal transduction, the cascading chain of phosphorylation events culminating in activation...

Ngày tải lên: 13/08/2014, 23:20

... studying earnings and growth forecasts provides no net benefit in predicting price changes at the margin 8-8 Forms of the EMH  Strong-form hypothesis - The relevant information is all information ... assimilation of information into prices Assessing performance of professional managers Can professional managers, using their resources and tools, “beat” the market after considering risk? Testing ... such information provides no benefit “at the margin.” - This version of the hypothesis implies that trend analysis is fruitless 8-7 Forms of the EMH  Semistrong-form hypothesis - The relevant information...

Ngày tải lên: 10/02/2015, 14:11

... “caused by” the financial markets =>They were just the proverbial canary in the coal mine 35 TCDN There are Limitations to the EMH as a Theory of Financial Markets  Information is modeled in the EMH ... among value of the firm pure exchange investors independent of determines security risk,… and among investors 32 determines the price of an option on the share TCDN There are Limitations to the ... that, given the supply of information, investors will trade on it until in equilibrium there are no further gains from trading 31 TCDN There are Limitations to the EMH as a Theory of Financial Markets...

Ngày tải lên: 14/07/2015, 11:45

... specification of what constitutes an “efficient” price response to information: Comparing the returns earned from trading on the information with the returns otherwise expected from passive investing ... invest in, what determines security risk, and so on IV Some Lessons from the Financial Crisis There are Limitations to the EMH as a Theory of Financial Markets Ignoring the supply side of the information ... information in the EMH:  Information is modeled as an objective commodity that has the same meaning for all investors In reality, investors have different information and beliefs The actions of individual...

Ngày tải lên: 14/07/2015, 11:45

... I interpret as saying as Putting of the flow of information to the marketplace just this: competition among market participants causes the return from using Putting these two insights together ... earnings reports  In competitive equilibrium, the the gains from exploiting public information should gains from exploiting public information should In competitive equilibrium, correspond to the ... information No one should act on information What would happen if all investors passively indexed Investors act on information in a fiercely competitive market, their portfolios? Obviously, the...

Ngày tải lên: 14/07/2015, 11:45

... function of the flow of information to the marketplace Putting these two insights together leads to the EMH, which I interpret as saying just this: competition among market participants causes the ... returns Indeed, I will argue below that this is one of the principal limitations of the theory This has been a glaring hole in “modern” financial economic theory in general, going all the way ... come into this picture? In one sense, the “behavioralists” in finance merely jumped on the bandwagon that started when the early financial economists started observing and reporting anomalies The...

Ngày tải lên: 14/07/2015, 11:49

... thành phần thị trường tin thị trường hiệu quả, vậy, giá phản ánh xác, nhận bong bóng hình thành (The Economics of Money, Banking and financial markets, 10th editon, Miskin)** Tôi tranh cãi, tiếp ... tin có khả làm thay đổi giá Mà thông tin hoàn toàn dự báo nội dung lẫn thời gian (The Economics of Money, Banking and financial markets, 10th editon, Miskin) ** Hơn nữa, tồn dự báo kiện thị trường ... hiểm bong bóng tài sản thời gian dài (1) Trong phần mở đầu kết luận nghiên cứu chi tiết, viết cẩn thận xếp vào dạng bán chạy lịch sử kinh tế tài đại, The Myth of the Rational Market, Justin Fox...

Ngày tải lên: 14/07/2015, 11:50

... shortened, and the bonding was thought to retain its metallic character110-112 In terms of the connection of these observations to the GFA of Al-RE-LTM, it was believed that the strong interaction and ... covalent like bonding between Al and LTM could hinder crystallization by retarding diffusion, and increasing the packing density of the supercooled liquid117,118 The strong bonding also enhances ... topological and kinetic considerations The hypothesis that the optimum glass formers in the low and high solute content regions can be explained by topological and kinetic considerations, respectively,...

Ngày tải lên: 11/09/2015, 09:04