Search results for "Variable"
showing 10 items of 1674 documents
Changes in determinants of the interest margin in today’s economy
2019
This study examined the interest margin following the significant drop in its contribution to credit institutions’ total income. Balance sheet variables, income statement and annual report variables, and external variables were studied separately. Variables that had not previously been studied in the literature were considered, and determinants that had already been studied were revisited after the reduction in the interest margin. The diversification of investment in associated companies and investment in fixed and variable income are causes of this decrease in the interest margin. Higher fees and commissions offset this decrease. Greater size and market power have reduced the interest mar…
Higher education and prosperity: from catholic missionaries to luminosity in India
2017
The article of record as published may be found at http://dx.doi.org/10.1111/ecoj.12551 This article estimates the impact of completed higher education on economic prosperity across Indian districts. To address the endogeneity of higher education, we use the location of Catholic missionaries circa 1911 as an instrument. Catholics constitute a very small share of the population in India and their influence beyond higher education has been limited. Our instrumental variable results find a positive effect of higher education on development, as measured by light density. The results are robust to alternative measures of development, and are not driven by lower levels of schooling or other chann…
The Simpson paradox of school grading in Italy
2009
Abstract Data from the 2003 OECD-PISA Survey for Italy reveal a striking difference in the relationship between students’ competence (as measured by PISA score in Mathematics) and school grades across regions: a competence level granting bare sufficiency in the North yields excellence grades in the South. This has spurred a lively debate on education policy in the country, based on the inference drawn from this evidence that grading practices are excessively different in the two areas. We show in this note that this inference overlooks a Simpson paradox hidden in the data. After a more careful analysis, the above inference is seen to be wrong. The crucial omitted variable is the school-leve…
Aggregate uncertainty and sectoral productivity growth: The role of credit constraints
2016
Abstract We show that an increase in aggregate uncertainty—measured by stock market volatility—reduces productivity growth more in industries that depend heavily on external finance. The mechanism at play is that during periods of high uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment—such as on ICT capital—which is more subject to liquidity risks (Aghion et al., 2010). The effect is larger during recessions, when financing constraints are more likely to be binding, than during expansions. Our statistical method—a difference-in-difference approach using productivity growth of 25 industries from 18 advanced econo…
Stock market information and the relationship between real exchange rate and real interest rates
2013
In this paper we propose to augment the traditional relationship between real exchange rates and real interest rates (RERI) by adding the stock market equilibrium condition to it. We introduce the relative dividend yield as the new information variable. In the empirical analysis we use recent monthly observations from the U.K., Japan, Canada and Eurozone, all relative to the U.S. We show that the introduction of stock market information is highly relevant for the functioning of the RERI hypothesis. Based on the results from the cointegration analysis the role of relative stock market performance is especially important in the short- term (3 month) horizon, where the augmented RERI represent…
Territorial Capital and Growth over the Great Recession: a Local Analysis for Italy"
2017
The consequences of the crisis have been mainly analyzed at national/ international levels, neglecting its differential effects on local areas. Notwithstanding the international character of the Great Recession, the different local structural features might have influenced the economic and social impact of the crisis, determining effects on the resilience and recovery chance. In this paper, we focus on the role of different territorial indicators by looking at how their relevance has changed during the recent crisis at provincial level. Our aim is threefold. First, we identify the strategic territorial elements which might be particularly relevant in ensuring a greater local absorption capa…
Institutional, pedagogical, psychosocial and socio-demographic factors related to academic performance at the University of Costa Rica: a multilevel …
2007
A multilevel analysis was conducted to predict final grades in courses from different majors for a sample, stratified by academic areas, of 848 students at the University of Costa Rica. A group of factors from institutional, socio-demographic, psychosocial and pedagogical aspects were employed as independent variables. The best predictor was the Admission Average, which combines grades from high school and an aptitude test score. Some non-cognitive variables were also explicative; the most important being the score on a scale of emotional intelligence. The methodology employed by the professor showed explicative power as well.
Sensorless variable speed single-phase induction motor drive system based on direct rotor flux orientation
2012
The single-phase induction motor (SPIM) is one of the electrical machines more used in the World, and can be found in several fractional and sub-fractional horsepower applications in houses, offices, shoppings, farms, and industries. The introduction of more sophisticated applications has required the use of variable speed drives for SPIM, where the adoption of sensorless techniques is the more reasonable option for speed control due to the low cost of this electrical machine. A proposal for sensorless variable speed SPIM drive based on direct rotor field orientation techniques is presented in this paper. None transformation is used in order to eliminate the asymmetry of the stator windings…
Sensorless variable speed single-phase induction motor drive system
2012
It is usual find single-phase induction motor (SPIM) in several house, office, shopping, farm, and industry applications, which are become each time more sophisticated and requiring variable speed drives. Considering the low cost of this machine, the adoption of sensorless speed control is the more reasonable option for SPIM drives. This paper presents a proposal for sensorless variable speed SPIM drive based on direct rotor field orientation techniques. An observer based on two independent linear close-loop control systems provides the estimation of the rotor flux and speed from the measurements of the stator currents and voltages. These estimatives are used by close-loop systems for speed…
On ( p ( x ), q ( x ))‐Laplace equations in ℝN without Ambrosetti‐Rabinowitz condition
2021
In the present work, we consider a (p(x), q(x))-elliptic equation describing the behavior of a double-phase anisotropic problem which has relevance in electrorheological fluid applications. The analysis leads to the existence of weak (nonnegative) solutions in the special case of potential terms with critical frequency and a superlinear reaction term. In order to prove the existence result, we combine critical point theory of mountain pass type with related topological and variational methods. Basically, the approach is variational, but we do not impose any Ambrosetti-Rabinowitz type condition for the superlinearity of the reaction. More specifically, we apply the Euler-Lagrange functional …