Search results for "proxy"
showing 10 items of 141 documents
BALANCED VARIABLE ADDITION IN LINEAR MODELS
2018
This paper studies what happens when we move from a short regression to a long regression in a setting where both regressions are subject to misspecification. In this setup, the least-squares estimator in the long regression may have larger inconsistency than the least-squares estimator in the short regression. We provide a simple interpretation for the comparison of the inconsistencies and study under which conditions the additional regressors in the long regression represent a “balanced addition” to the short regression.
Networked relationships in the e-MID Interbank market: A trading model with memory
2014
Interbank markets are fundamental for bank liquidity management. In this paper, we introduce a model of interbank trading with memory. Our model reproduces features of preferential trading patterns in the e-MID market recently empirically observed through the method of statistically validated networks. The memory mechanism is used to introduce a proxy of trust in the model. The key idea is that a lender, having lent many times to a borrower in the past, is more likely to lend to that borrower again in the future than to other borrowers, with which the lender has never (or has in- frequently) interacted. The core of the model depends on only one parameter representing the initial attractiven…
The effects of monetary policy on income and wealth inequality in the U.S. Exploring different channels
2020
We assess the effects of monetary policy shocks on income and wealth inequality through direct inequality measures and by analyzing several transmission channels explored in recent literature. Furthermore, we analyze two additional channels: the Housing and the Fiscal channels. The methodology adopted is a Bayesian proxy SVAR using a high-frequency identification based on the external instruments approach. Our own policy shocks are constructed for this purpose. The results show that an expansionary monetary policy shock does not have a significant effect on income inequality due to the existence of opposite channels, whereas it increases wealth inequality mainly through the portfolio channe…
The performance of entrepreneurial small‐ and medium‐sized enterprises
2012
Innovation is an important driver of economic growth for it leads to new products and services, enhanced quality, and lower prices. In an increasingly competitive global market, innovation turns out to be essential to secure a viable competitive position. Although there is no perfect correspondence between accounting intangible assets and innovation activities, the association between these two concepts is close enough to take investment in intangible assets as a proxy for entrepreneurship and innovation. To identify differences between innovative and non‐innovative small and medium enterprises in the service industry, both descriptive and statistical analyses are performed on financial dat…
Board of director attributes: effects on financial performance in SMEs
2021
This paper analyses the relationship between board of director (BoD) attributes and financial performance in small and medium-sized enterprises (SMEs). Although SMEs are the backbone of world economies, most studies on this relationship focused on large companies and did not consider many typical or recommended processes and activities carried out by SME BoDs. We monitored a set of variables related to BoD attributes such as composition, characteristics, structure and processes for 184 Italian SMEs along with their financials over a 4-year period (2014–2017). We controlled for enterprise-specific characteristics such as annual sales growth, assets value, sales turnover, leverage, com pany s…
Environmental and biological factors influencing trace elemental and microstructural properties of Arctica islandica shells
2018
Long-term and high-resolution environmental proxy data are crucial to contextualize current climate change. The extremely long-lived bivalve, Arctica islandica, , is one of the most widely used paleoclimate archives of the northern Atlantic because of its fine temporal resolution. However, the interpretation of environmental histories from microstructures and elemental impurities of A. islandica, shells is still a challenge. Vital effects (metabolic rate, ontogenetic age, and growth rate) can modify the way in which physiochemical changes of the ambient environment are recorded by the shells. To quantify the degree to which microstructural properties and element incorporation into A. island…
Confirmatory factor analysis of the proxy version of Kidscreen-27 and relationships between health-related quality of life dimensions and body mass i…
2020
Highlights • The full Kidscreen-27 should be used with caution for young children. • Physical activity was positively associated with physical well-being. • Body mass was negatively associated with physical well-being. • Compared to older children, the youngest may have more negative school experiences.
Impact of Transport Costs on International Trade: The Case of Spanish Ceramic Exports
2003
This paper aims to investigate the determinants of maritime and overland transport costs and the role they play in deterring trade across countries. We estimate a transport cost function using data on maritime and overland transport of the ceramic sector (tiles) obtained from interviews held with Spanish logistics operators. We also study the relationship between transport costs and trade and estimate an import demand model for ceramic products. Additionally, we present a discussion on the sensitivity of trade flows and transportation costs to the existence of back-hauling, special conditions for transport and number of reloads.1 The study of modal transport (overland versus maritime) and i…
Comparing Different Estimation Methodologies of Regional GDPs in Latin American Countries
2020
This chapter presents a survey of the different methods used to reconstitute long-run income estimations for the Latin American regions. The main purpose is to alert on potential biases derived from them. Although the bottom-up approaches based on the direct estimation of aggregate production, income or expenditure are the preferred option, they have barely been used. The main reason is that all of them are highly data-demanding. Instead, the indirect non-parametric approaches, combined sometimes with direct estimations for agriculture and extractive industries, have been the most recurrent way to estimate output. Out of the nine countries in the sample, seven have followed this “mixed appr…
SmartARP: merging IP and MAC addressing for low-cost gigabit Ethernet networks
1999
Abstract Address Resolution Protocol (ARP) is one of the key TCP/IP stack protocols, used on LANs to map 32 bit IP addresses into 48 bit hardware addresses. Regular ARP uses MAC layer broadcasts to perform the mapping. In this paper a new server-based ARP extension (smartARP) is proposed, which allows the extension of ARP functionality beyond a single MAC layer broadcast domain. Compared to regular IP router, smartARP together with simple broadcast-filtering switches presents a low-cost alternative for forwarding packets between MAC layer broadcast domains. SmartARP is transparent to existing IP hosts, operates independent of LAN speed, and scales for big networks.