The sources of the union wage gap

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and Economics

On the Sources of Uncertainty in Exchange Rate Predictability

We analyse the role of time-variation in coefficients and other sources of uncertainty in exchange rate forecasting regressions. Our techniques incorporate the notion that the relevant set of predictors and their corresponding weights, change over time. We find that predictive models which allow for sudden rather than smooth, changes in coefficients significantly beat the random walk benchmark in out-of-sample forecasting exercise. Using innovative variance decomposition scheme, we identify uncertainty in coefficients' estimation and uncertainty about the precise degree of coefficients' variability, as the main factors hindering models' forecasting performance. The uncertainty regarding the choice of the predictor is small.

From the vendor in the hemp shop to the dealer in the alleyway? A comparison of the sources of supply of cannabis in a time of 'de-normalising' cannabis use.

Objectives: After several years of increasing 'normalisation' of cannabis use in Switzerland at the beginning of the new millennium, a reversed tendency, marked among others by a more stringent law-enforcement, set in. The presentation examines the question of where adolescents and young adults obtained cannabis, within the context of this societal change. In addition, it compares the sources of supply for cannabis with those found in studies of other European countries. Methods: Analyses are based on data from the Swiss Cannabis Monitoring Study. As part of this longitudinal, representative population survey, more than 5000 adolescents and young adults were interviewed by telephone on the topic of cannabis. Within the total sample, 593 (2004) or 554 (2007) respectively, current cannabis users replied to the questions on sources of supply. Changes in law-enforcement and societal climate concerning cannabis are assessed based on relevant literature, media reports and parliamentary discussions. Results: Whereas 22% of cannabis users stated in 2004 that they bought their cannabis from vendors in hemp shops, this proportion drastically decreased to 6% three years later. At the same time, cannabis was obtained increasingly from friends, while the proportion of users who purchased cannabis from dealers in the alleyway, more than doubled from 6% (2004) to 13% (2007). It was male cannabis users, and in particular, young adult and frequent users, who have moved into the alleyways. Generally, users who buy cannabis in the alleyway show more cannabis-related problems than those who mainly name other sources of supply, even when adjusted for sex, age and frequency of cannabis use. Discussion: Possible consequences of these changes in cannabis supply, like the risk of merging a previously cannabis-only market with other 'harder' drugs markets, are discussed.

Evolution of the sources of Moroccan volcanism during the Neogene

New major and trace element analyses, Sr-Nd isotopic data and K-40-Ar-40 ages on Neogene and Quaternary lavas from Morocco lead to the conclusion that the observed temporal changes from calc-alkaline to transitional and finally alkaline magmatic activity reflect the contributions of distinct sources. According to our model, magmas originally derived from the melting of an European/Western Mediterranean-type asthenospheric mantle source interact during their ascent with either a subcontinental Ronda - Beni Bousera-/type lithospheric mantle (alkaline magmas) or a lithospheric mantle containing a crustal component, and the overlying continental crust (calc-alkaline and, to a lesser extent, transitional magmas). ( (C) Academie des sciences/Elsevier, Paris.).

On the sources of business cycles in the G-7

This paper examines sources of cyclical movements in output, inflation and the term structure of interest rates. It employs a novel identification approach which uses the sign of the cross correlation function in response to shocks to catalog orthogonal disturbances. We find that demand shocks are the dominant source output, inflation and term structure fluctuations in six of the G-7 countries. Within the class of demand disturbances, nominal shocks are dominant, but their importance declined after 1982. Furthermore, there are no significant differences in the proportion of term structure variability explained by different structural sources at different horizons.

On the sources of the Great Moderation

The remarkable decline in macroeconomic volatility experienced by the U.S. economy since the mid-80s (the so-called Great Moderation) has been accompanied by large changes in the patterns of comovements among output, hours and labor productivity. Those changes are reflected in both conditional and unconditional second moments as well as in the impulse responses to identified shocks. That evidencepoints to structural change, as opposed to just good luck, as an explanation for the Great Moderation. We use a simple macro model to suggest some of the immediate sources which are likely to be behindthe observed changes.

The sources of complementary competitive advantages for systems’ manufacturers in the aircraft modernization market

Being a top of high technology industries, the aerospace represents one of the most complex fields of study. While the competitiveness of aircraft systems’ manufacturers attracts a significant number of researchers, some of the issues remain to be a blank spot. One of those is the after-sale modernization. The master thesis investigates how this concept is related to the theory of competitive advantages. Finding the routes in the framework of complex technological systems’ lifecycle, the key drivers of the aircraft modernization market are revealed. The competitive positioning of players is defined through multiple case studies in a form of several in-depth interviews. The key result of the research is the conclusion that modernization should be considered as an inherent component of strategy of any aircraft systems’ manufacturer, while the master thesis aims to support managerial decision making.

Map of the sources of Snake River : with its tributaries together with portions of the headwaters of the Madison and Yellowstone from surveys and observations of the Snake River Expedition

Kartta kuuluu A. E. Nordenskiöldin kokoelmaan

Map of the sources of Snake River : with its tributaries together with portions of the headwaters of the Madison and Yellowstone from surveys and observations of the Snake River Expedition

Kartta kuuluu A. E. Nordenskiöldin kokoelmaan

A Network model of systemic risk : identifying the sources of dependence across institutions

We design a financial network model that explicitly incorporates linkages across institutions through a direct contagion channel, as well as an indirect common exposure channel. In particular, common exposure is setup so as to link the financial to the real sector. The model is calibrated to balance sheet data on the colombian financial sector. Results indicate that commercial banks are the most systemically important financial institutions in the system. Whereas government owned institutions are the most vulnerable institutions in the system.

Assessing the sources and magnitude of diurnal nitrate variability in the San Joaquin River (California) with an in-situ optical nitrate sensor and dual nitrate isotopes

We investigated diurnal nitrate (NO3-) concentration variability in the San Joaquin River using an in situ optical NO3- sensor and discrete sampling during a 5-day summer period characterized by high algal productivity. Dual NO3- isotopes (delta N-15(NO3) and delta O-18(NO3)) and dissolved oxygen isotopes (delta O-18(DO)) were measured over 2 days to assess NO3- sources and biogeochemical controls over diurnal time-scales. Concerted temporal patterns of dissolved oxygen (DO) concentrations and delta O-18(DO) were consistent with photosynthesis, respiration and atmospheric O-2 exchange, providing evidence of diurnal biological processes independent of river discharge. Surface water NO3- concentrations varied by up to 22% over a single diurnal cycle and up to 31% over the 5-day study, but did not reveal concerted diurnal patterns at a frequency comparable to DO concentrations. The decoupling of delta N-15(NO3) and delta O-18(NO3) isotopes suggests that algal assimilation and denitrification are not major processes controlling diurnal NO3- variability in the San Joaquin River during the study. The lack of a clear explanation for NO3- variability likely reflects a combination of riverine biological processes and time-varying physical transport of NO3- from upstream agricultural drains to the mainstem San Joaquin River. The application of an in situ optical NO3- sensor along with discrete samples provides a view into the fine temporal structure of hydrochemical data and may allow for greater accuracy in pollution assessment.

Issues in the assimilation of the sources of a trace gas by inverse modelling

The problem of reconstructing the (otherwise unknown) source and sink field of a tracer in a fluid is studied by developing and testing a simple tracer transport model of a single-level global atmosphere and a dynamic data assimilation system. The source/sink field (taken to be constant over a 10-day assimilation window) and initial tracer field are analysed together by assimilating imperfect tracer observations over the window. Experiments show that useful information about the source/sink field may be determined from relatively few observations when the initial tracer field is known very accurately a-priori, even when a-priori source/sink information is biased (the source/sink a-priori is set to zero). In this case each observation provides information about the source/sink field at positions upstream and the assimilation of many observations together can reasonably determine the location and strength of a test source.