32,529 research outputs found
Forced Manager Turnovers in English Soccer Leagues: A Long-Term Perspective
No full textThe authors conduct an empirical analysis of a hand-collected sample of 2,376 turnovers of soccer managers in the four major English leagues in the seasons from 1949-1950 to 2007-2008. While the relation between the probability of a manager being fired and long-term performance remained remarkably stable, both the absolute frequency and the sensitivity of firing decisions on the outcome of recent matches steadily and significantly increased during the six decades covered by the sample. This is likely to reflect the increased level of competition in and economic importance of the English soccer leagues. © The Author(s) 2012
Appropriate Similarity Measures for Author Cocitation Analysis
No full textWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
The Causes and Consequences of IMF Conditionality
No full textWe develop a public choice model of the International Monetary Fund in which credit and conditionality are simultaneously determined by the demand for, and supply of, IMF credit. A graphical analysis illustrates the comparative statics in response to various shocks. We apply the model to explain the main changes in the rules governing conditionality and in the number of conditions per program. We observe a highly significant positive correlation between the number of conditions per program and the prior use of Fund credit relative to quota in 1959-99. A panel data analysis of 206 letters of intent in 4/1997-2/2003 reveals that the number of conditions depends negatively on international reserves and positively on interest rates in the world capital market, monetary expansion in the borrowing country and the number of World Bank adjustment loans. Finally, the effects of conditionality are analyzed for the first time. Our instrumental-variables estimate shows that the number of conditions does not have a significant effect on any of the five typical instrument and target variables considered. The final section links the analysis of IMF conditionality with the literature on tied transfers in public economics and develops some novel proposals for the reform of IMF conditionality.IMF Conditionality Reform
Does the Format of a Financial Aid Program Matter? The Effect of State In-Kind Tuition Subsidies
No full textDoes the format of a financial aid program influence how it affects college decisions? This paper examines this question by focusing on state appropriations to public postsecondary institutions. While these funds subsidize tuition costs for in-state students, the in-kind format of the aid an resulting price gap between public and private colleges could also affect choices between colleges. The paper analyzes this possible effect utilizing a conditional logistic choice model, which exploits extensive match-specific information between individuals and nearly 2,700 colleges. Using estimates of how price, quality, and distance influence college decisions, I examine the impact of several dissimilar state subsidy regimes and simulate how decisions would change if the aid were awarded in other ways. The results suggest that the level and distribution pattern of state subsidies strongly influence decisions. When in-kind subsidies are large, students appear to choose public colleges even if the gap in resources between public and private options is substantial. If the aid were instead distributed as a credit applicable to any in-state college, up to 29 percent more students would prefer to attend private four-year colleges. The results also suggest that the in-kind subsidies create incentives for students to favor public four-year colleges over two-year institutions.
Numerical simulations on the effect of an electric field on vapor bubble growth in microgravity
No full textabstrac
Which Kind of Science Is Construction Management?
No full textIt is argued that the mainstream views on the nature of construction management are insufficient, and as one consequence of this, the relevance of construction management has been questioned. As a solution to this situation, construction management is suggested to be repositioned as a design science, rather than as an explanatory science. A historical consideration reveals that design science equals to one of the sciences proposed by Aristotle, however, the suggestion of Aristotle has been forgotten. Thus, there has been a long-standing neglect of the design science, which explains the present fragmentation of this field. It is argued that this redefinition of construction management will solve several problems plaguing this discipline, including the problem of relevance
TARGET2 Unlimited: monetary policy implications of asymmetric liquidity management within the Euro area. CEPS Policy Brief No. 248, 13 July 2011
No full textThis paper analyses the implications of a continued divergence of TARGET2 balances for monetary policy in the euro area. The accumulation of TARGET2 claims (liabilities) would make the ECB’s liquidity management asymmetric once the TARGET2 claims in core countries have crowded out central bank credit in those regions. Then while providing scarce liquidity to banks in countries with TARGET2 liabilities, the ECB will need to absorb excess liquidity in countries with TARGET2 claims. We discuss three alternatives and their implications for absorbing excess liquidity in core regions: 1) using market-based measures might accelerate the capital flight from periphery to core countries and would add to the accumulation of risky assets by the ECB; 2) conducting non-market based measures, such as imposing differential (unremunerated) reserve requirements, would distort banking markets and would support the development of shadow banking; and 3) staying passive would lead to decreasing interest rates in core Europe entailing inflationary pressure and overinvestment in those regions and possibly future instability of the banking system
Discussion on Quartic Autocatalytic Kind of Chemical Reaction
No full textThe significance of chemical reaction is
inevitable and there exist many kinds in real life. Recently, the concept of
quartic autocatalytic kind of chemical reaction was appraised (Refs. [10] –
[16]). It is worth remarking that the concept had been wrongly used in a
recently published paper. To avoid confusion, this unpublished paper is
presented for clarification. In the report “entropy
optimization and quartic autocatalysis in MHD chemically reactive stagnation
point flow of Sisko nanomaterial, International Journal of Heat and Mass
Transfer 127, 829 – 837”, the author investigated
cubic autocatalytic kind of chemical reaction between non-Newtonian Sisko fluid
and two molecules of catalyst situated at the surface. However, in three
different places including the title, the author claimed that the reaction is quartic autocatalysis.<br
TARGET2 Unlimited: Monetary Policy Implications of Asymmetric Liquidity Management within the Euro Area
No full textThis paper analyses the implications of a continued divergence of TARGET2 balances for monetary policy in the euro area. The accumulation of TARGET2 claims (liabilities) would make ECB’s liquidity management asymmetric once the TARGET2 claims in core countries have crowded out central bank credit in those regions. Then while providing scarce liquidity to banks in countries with TARGET2 liabilities, the ECB will need to absorb excess liquidity in countries with TARGET2 claims. We discuss three alternatives and its implications to absorb excess liquidity in core regions: (1) Using market based measures might accelerate the capital flight from periphery to core countries and would add to the accumulation of risky assets by the ECB. (2) Conducting non-market based measures such as imposing differential (unremunerated) reserve requirements would distort banking markets and would support the development of shadow banking. (3) Staying passive would lead to decreasing interest rates in core Europe entailing inflationary pressure and overinvestment in those regions and possibly future instability of the banking system.TARGET2 balances, monetary policy, euro area, Eurosystem, excess liquidity
Household Portfolios in Germany
No full textThis paper describes portfolio choices of German households in the 1980's and 1990's. We present stylized facts and analyze recent trends of asset ownership rates and asset shares on the basis of national accounts and survey data. We correlate socio-demographic household characteristics with asset shares and ownership, and analyze how German households have adjusted their asset portfolios in response to the policy changes during this time. A particular focus is on the effects of German reunification and the portfolio adjustments of East German households during the transition process.
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