Marginal Benefit Incidence Analysis Using a Single Cross-section of Data. Mohamed Ihsan Ajwad and Quentin Wodon 1. World Bank.

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Marginal Benefit Incidence Analysis Using a Single Cross-section of Data. Mohamed Ihsan Ajwad and Quentin Wodon 1. World Bank."

Transcription

1 Margnal Beneft Incdence Analyss Usng a Sngle Cross-secton of Data Mohamed Ihsan Ajwad and uentn Wodon World Bank August 200 Abstract In a recent paper, Lanjouw and Ravallon proposed an attractve and smple method to conduct margnal beneft ncdence analyss wth a sngle cross-secton of data. Ther method enables the analyst to test whether the poor beneft more or less than the non-poor from program expanson. In ths note, we propose an alternatve to the method proposed by Lanjouw and Ravallon. An applcaton to access to basc nfrastructure servces n Latn Amerca llustrates the approach. EL classfcaton: D3, I0, I20 Key words: Beneft ncdence, Latn Amerca, poverty, electrcty, water Both authors are wth the Poverty Group n the Vce Presdency for Latn Amerca at the World Bank. Ths paper was prepared as a contrbuton to a regonal study on nfrastructure reform and the poor, funded by the Regonal Studes Program of the Offce of the Chef Economst. We benefted from the comments of Vven Foster, Peter Lanjouw, and Martn Ravallon. The vews expressed here are those of the authors, and they do not necessarly represent those of the World Bank, ts Executve Drectors, or the countres they represent.

2 . Motvaton Beneft ncdence analyss s a popular tool used by polcy makers to evaluate the dstrbuton (e.g., accordng to a welfare ndcator such as per capta ncome) of the benefts from publc programs and expendtures. In most emprcal applcatons, the analyst looks at the dstrbuton of current publc spendng. However, as noted by Lanjouw and Ravallon (999), the dstrbuton of addtonal spendng need not be smlar to the dstrbuton of exstng spendng. If publc expendtures reach the rch before reachng the poor, and f there s some level of saturaton n the servces that can be provded to the rch, then the poor may beneft more from an ncrease n spendng than from exstng levels of spendng. Lanjouw and Ravallon proposed an nnovatve methodology to measure margnal beneft ncdence analyss usng a sngle cross-secton of data. Ths note presents an alternatve to ther approach for estmatng the so-called tmng of program capture usng a sngle cross-secton. The dfference between Lanjouw and Ravallon s approach and our alternatve les n the way the groups of households are defned accordng to ther poston n the ncome dstrbuton. Lanjouw and Ravallon defne fve untles by groupng households 2 accordng to ther poston n the overall dstrbuton of ncome of a country. In an emprcal settng smlar to that of Lanjouw and Ravallon, we defne the untles to whch households belong not accordng to the poston of the households n the overall country-wde dstrbuton of ncome, but rather accordng to ther poston n ther departmental dstrbuton of ncome, wth the country beng dvded nto several departments. The mplcaton of ths modfcaton s that wth our method, the poorest household n the rchest department s classfed as belongng to the poorest untle together wth the poorest household n the poorest department, even though the poorest household n the rchest department may belong to a hgher untle n the overall dstrbuton of ncome. One case n whch our method could be of use s when well-beng s relatvely defned. Accordng to relatve deprvaton theory, households take nto consderaton not only ther absolute level of welfare, but also ther level of welfare relatve to others. If for any gven group of households, the peer comparson group conssts of other households lvng n the same geographc area, the relatvst approach for the analyss of the dstrbuton of publc spendng would lead to our way of rankng households usng ther poston n the departmental rather than natonal dstrbuton of ncome. That s, one would frst be nterested n assessng whether wthn a gven department, poor and rch households beneft n the same way from an ncrease n publc spendng. Next, when aggregatng the results at the natonal level, as already mentoned, a poor household n a rch regon would be gven the same treatment as a poor household n a poor regon. Ths relatvst lne of reasonng would dffer from an absolutst percepton of well-beng, accordng to whch all households should be ranked natonally by ncome level.

3 Another case n whch our method could be employed s n the evaluaton of Government polces usng mult-country data. If we have regonal data for, say, Latn Amerca, and f we use margnal beneft ncdence analyss n order to analyze whether on average n the regon, Governments are pro-poor n ther spendng allocatons at the margn, we would need to rank households accordng to ther poston n ther own country s ncome dstrbuton rather than accordng to ther poston n the regon-wde dstrbuton. Wth mult-country data, the absolutst approach would be of lmted value for polcy dscussons because decsons are clearly made at the country rather than regonal level. A smlar case could occur f offcals n the central Government of a federal entty were to assess the dstrbuton of spendng wthn federated enttes n a decentralzed context whereby the federated enttes have the power and autonomy to allocate budgetary resources. In ths note, we do not wsh to suggest that the relatvst approach s necessarly better or worse than the absolutst approach n all cases. The choce of one approach versus the other wll depend on the context and data avalable. But f the relatvst approach s desred, then a dfferent econometrc method from that used by Lanjouw and Ravallon s reured. 2. Method Let us frst revew the method proposed by Lanjouw and Ravallon. The authors use an Indan data set wth two types of geographc enttes, namely states and regons. Contaned n the data are,, N states and a number of regons wthn each state. The regons (whch are taken as proxes for the households wthn these regons) are ranked by a measure of per capta ncome on a natonal bass and assgned to one of,, ncome bracket ntervals. We denote by x j the beneft ncdence of a program n regon j belongng to nterval of state. The mean beneft ncdence n nterval for state s denoted by and the overall state mean s denoted by. If nterval of state, the two means are respectvely eual to: s the number of regons n x / [] j j j x j / [2] Although they do not wrte ther emprcal model explctly, Lanjouw and Ravallon conduct the margnal beneft ncdence analyss by runnng regressons as follows: ˆ α ε for,, [3] 2 Lanjouw and Ravallon use aggregate sub-natonal data rather than household data, but the dea s the same. 2

4 where ˆ s obtaned from the ftted-values of the followng regresson: xj x j j j γ δ ν Euaton [3] enables beneft ncdence n nterval to be analyzed wth respect to the varaton n the state s mean beneft ncdence. However, the mean state beneft ncdence depends on the ncdence n nterval. Ths endogenety s avoded by usng as an nstrument n the estmaton n [4], the leave-out mean, whch s the state level mean for all the regons except those belongng to nterval. In our approach, we also defne,, N geographc unts, whch n the emprcal llustraton are sx Latn Amercan countres. But t s wthn each country rather than wthn the Latn Amerca regon as a whole that households are ranked by household ncome and assgned to one of,, ncome bracket ntervals. We classfy households nto ncome decles, so that 0. We denote by the beneft ncdence of a program n household j belongng to ncome nterval of country. The beneft [4] x j ncdence n nterval for country s denoted by, the country overall country mean s denoted by and s the number of households n nterval of country. We conduct the margnal beneft ncdence analyss by runnng regressons as follows:, xj x j, j j α ε for,, [5] In the frst and poorest nterval (), ths yelds a regresson of the mean level of program partcpaton n the poorest households n the varous countres on the mean level of program partcpaton n the country as a whole. To avod endogenety (standard country means would be obtaned over all the households n the country, ncludng those n the frst nterval), we defne the rght hand sde varable at the country level drectly as the mean on all the households except those belongng to nterval. Assume now that all the ntervals wthn a gven country have the same number of households,. For nstance, wth 0, the bottom decle n a country wth 20 households has 2 observatons, whle the correspondng nterval n a country wth 30 households has 3 observatons. Whle the sze of the ntervals may dffer between countres, they do not dffer wthn countres. Wth can smplfy [5] as follows: for all, we 3

5 4 ε α for,, [6] The coeffcents can be nterpreted as margnal beneft ncdence measures only when the number of ntervals s large. To see ths, note that snce, we have. Hence: ε α for,, [7] Droppng the error term and rearrangng the terms yelds: ) /( ) / ( α for,, [8] Partally dfferencatng, we get: for,, [9] The margnal beneft ncdence estmates are the values of /(- ). The change n program ncdence for decle followng from a one unt ncrease n the aggregate ncdence of the program s eual to only when the number of ntervals tends to nfnty. We now turn to the estmaton of the coeffcents. To estmate a sngle regresson, we pool all the observatons from the varous ntervals together and rewrte the system of regressons [7] as: ε α [0] In [0], the ntercepts and slopes are allowed to dffer for the varous ntervals subject to an mplct restrcton. The restrcton s that the mean margnal beneft ncdence estmates for the ten groups must be eual to one. Totally dfferentatng ) / ( yelds ths restrcton: [] Wrtng, the parameter for the last nterval, n terms of the other parameters yelds:

6 ( ) [2] To take nto account the restrcton [], we rewrte [0] as: α ε [3] ( ) Euaton [3] can then be estmated wth non-lnear least suares. 4. Results To llustrate the method, we use household survey data on access to electrcty and water from sx Latn Amercan countres. We conduct the margnal beneft ncdence analyss wth household surveys for 986 n Brazl, Honduras, Mexco, and the Republc Bolvarana de Venezuela, and 989 n Chle and Guatemala. Thereafter, to test whether our method s relable, we compare the results obtaned wth our method on the bass of a sngle cross-secton wth the actual changes n beneft ncdence observed between the frst pont of data and a second pont whch corresponds to the year for 996 n Brazl, Honduras, Mexco, and the Republc Bolvarana de Venezuela, 998 n Chle, and 999 n Guatemala. Table presents the mean (rather than margnal) beneft ncdence for access to water and electrcty n urban and rural areas. Not surprsngly, households at the bottom of the dstrbuton wthn each country have much lower access rates than households n the rcher decles, and the dfferences tend to be larger n rural areas where access rates are lower. Table 2 presents the estmated margnal beneft ncdence analyss for urban and rural areas separately obtaned usng euaton [3]. The upper panel gves the estmated slopes for water, whle the lower panel gves them for electrcty. All coeffcents are sgnfcant at a 5 percent level. The 95 percent confdence ntervals are ncluded for convenent comparson of statstcally sgnfcant dfferences between the coeffcents. Fnally, table 3 presents the margnal mpacts /(- ) whch are constructed usng the slope estmates n table 2. Whle the poor have lower access rates than the rch (table ), they often beneft more than the rch from margnal ncreases n access rates (table 3). For water, a one standard devaton (0.22) ncrease n urban access rates ncreases access n decle two by 0.20 ( ) and n decle nne by In rural areas, a one standard devaton (0.73) ncrease n water access rates ncrease access rates by 0.20 n decle two and by 0.4 n decle nne. For electrcty, a one standard devaton (0.090) 5

7 ncrease n urban access rates ncreases access by 0.55 n the second decle of a typcal country and by n the nnth decle. In rural areas, a one standard devaton (0.270) ncrease n electrcty access rates ncreases access n decle two by and n decle nne by How good are our estmates? Snce we have two data ponts for each country, we can compute the actual ncreases n access rates between the two years n each of the countres for the two nfrastructure servces for both urban and rural areas. The actual average ncreases n access rates, n decle across the sx countres between tme t and tme t- are defned as: ~ N N, t, t, t, t for,... [4] Table 3 presents the estmated and actual values of the margnal mpacts, and fgure presents the results graphcally. The plan lnes represent the estmates and the dashed lnes the actual values. In most cases, the estmates are farly good approxmatons of the actual values, whch suggests that cross sectonal data can ndeed be used to conduct beneft ncdence analyses wth reasonable accuracy. To conclude, we have provded a new method for conductng margnal beneft ncdence analyss whch can be useful n a number of settngs, ncludng those characterzed by the use of cross-country data. We have tested the method usng data on household access to basc nfrastructure servces n sx Latn Amercan countres. The estmates obtaned wth our method are farly close to the margnal beneft ncdence actually observed from the late 980s to the late 990s. From a substantve pont of vew, we have shown that although the poor have much lower access rates to electrcty and water than the rch, they often beneft more from ncreases n access rates than the rch. ~, Reference Lanjouw, Peter, and Martn Ravallon, 999, Beneft Incdence, Publc Spendng Reforms, and the Tmng of Program Capture, World Bank Economc Revew, 3:

8 Table : Mean access rates to electrcty and water by ncome decle n sx Latn Amercan countres Water Electrcty Decle Urban Rural Urban Rural Mean Source: Authors estmatons from household survey data. Table 2: Margnal beneft ncdence regresson coeffcent estmates for electrcty and water Urban Rural Decle Coeffcent Std. Err. 95 % Confdence Interval Coeffcent Std. Err. 95 % Confdence Interval Water Electrcty Source: Authors estmatons from household survey data 7

9 Table 3: Margnal beneft ncdence estmates /(- ) and actual values ~ for electrcty and water Urban Rural Water Electrcty Water Electrcty Decle Estmated Actual Estmated Actual Estmated Actual Estmated Actual Mean Source: Authors estmatons from household survey data 8

10 Fgure : Comparson of margnal beneft ncdence estmates wth actual changes n access [The dashed lnes are the actual values ~ and the plan lnes are the estmates /(- )] 2.0 Water Urban 2.0 Water Rural Electrcty Urban.6 Electrcty Rural Source: Authors estmatons from household survey data 9

Inequality and The Accounting Period. Quentin Wodon and Shlomo Yitzhaki. World Bank and Hebrew University. September 2001.

Inequality and The Accounting Period. Quentin Wodon and Shlomo Yitzhaki. World Bank and Hebrew University. September 2001. Inequalty and The Accountng Perod Quentn Wodon and Shlomo Ytzha World Ban and Hebrew Unversty September Abstract Income nequalty typcally declnes wth the length of tme taen nto account for measurement.

More information

1. Introduction. 2. The modified Gini index

1. Introduction. 2. The modified Gini index . ntroducton The n coeffcent s a popular and wdel-used ndex for measurng nequalt (Lerman and Ytzha, 984. Evdence for the OECD countres ndcates that there has been a sgnfcant and wdespread ncrease n ncome

More information

THE TITANIC SHIPWRECK: WHO WAS

THE TITANIC SHIPWRECK: WHO WAS THE TITANIC SHIPWRECK: WHO WAS MOST LIKELY TO SURVIVE? A STATISTICAL ANALYSIS Ths paper examnes the probablty of survvng the Ttanc shpwreck usng lmted dependent varable regresson analyss. Ths appled analyss

More information

Energy prices, energy efficiency, and fuel poverty 1. Vivien Foster, Jean-Philippe Tre, and Quentin Wodon. World Bank. September 2000.

Energy prices, energy efficiency, and fuel poverty 1. Vivien Foster, Jean-Philippe Tre, and Quentin Wodon. World Bank. September 2000. Energy prces, energy effcency, and fuel poverty 1 Vven Foster, Jean-Phlppe Tre, and Quentn Wodon World Bank September 2000 Abstract Because electrcty s much more effcent than other sources of energy for

More information

CHOLESTEROL REFERENCE METHOD LABORATORY NETWORK. Sample Stability Protocol

CHOLESTEROL REFERENCE METHOD LABORATORY NETWORK. Sample Stability Protocol CHOLESTEROL REFERENCE METHOD LABORATORY NETWORK Sample Stablty Protocol Background The Cholesterol Reference Method Laboratory Network (CRMLN) developed certfcaton protocols for total cholesterol, HDL

More information

An Alternative Way to Measure Private Equity Performance

An Alternative Way to Measure Private Equity Performance An Alternatve Way to Measure Prvate Equty Performance Peter Todd Parlux Investment Technology LLC Summary Internal Rate of Return (IRR) s probably the most common way to measure the performance of prvate

More information

Study on CET4 Marks in China s Graded English Teaching

Study on CET4 Marks in China s Graded English Teaching Study on CET4 Marks n Chna s Graded Englsh Teachng CHE We College of Foregn Studes, Shandong Insttute of Busness and Technology, P.R.Chna, 264005 Abstract: Ths paper deploys Logt model, and decomposes

More information

9.1 The Cumulative Sum Control Chart

9.1 The Cumulative Sum Control Chart Learnng Objectves 9.1 The Cumulatve Sum Control Chart 9.1.1 Basc Prncples: Cusum Control Chart for Montorng the Process Mean If s the target for the process mean, then the cumulatve sum control chart s

More information

HOUSEHOLDS DEBT BURDEN: AN ANALYSIS BASED ON MICROECONOMIC DATA*

HOUSEHOLDS DEBT BURDEN: AN ANALYSIS BASED ON MICROECONOMIC DATA* HOUSEHOLDS DEBT BURDEN: AN ANALYSIS BASED ON MICROECONOMIC DATA* Luísa Farnha** 1. INTRODUCTION The rapd growth n Portuguese households ndebtedness n the past few years ncreased the concerns that debt

More information

Answer: A). There is a flatter IS curve in the high MPC economy. Original LM LM after increase in M. IS curve for low MPC economy

Answer: A). There is a flatter IS curve in the high MPC economy. Original LM LM after increase in M. IS curve for low MPC economy 4.02 Quz Solutons Fall 2004 Multple-Choce Questons (30/00 ponts) Please, crcle the correct answer for each of the followng 0 multple-choce questons. For each queston, only one of the answers s correct.

More information

Calculation of Sampling Weights

Calculation of Sampling Weights Perre Foy Statstcs Canada 4 Calculaton of Samplng Weghts 4.1 OVERVIEW The basc sample desgn used n TIMSS Populatons 1 and 2 was a two-stage stratfed cluster desgn. 1 The frst stage conssted of a sample

More information

The Probit Model. Alexander Spermann. SoSe 2009

The Probit Model. Alexander Spermann. SoSe 2009 The Probt Model Aleander Spermann Unversty of Freburg SoSe 009 Course outlne. Notaton and statstcal foundatons. Introducton to the Probt model 3. Applcaton 4. Coeffcents and margnal effects 5. Goodness-of-ft

More information

Institute of Informatics, Faculty of Business and Management, Brno University of Technology,Czech Republic

Institute of Informatics, Faculty of Business and Management, Brno University of Technology,Czech Republic Lagrange Multplers as Quanttatve Indcators n Economcs Ivan Mezník Insttute of Informatcs, Faculty of Busness and Management, Brno Unversty of TechnologCzech Republc Abstract The quanttatve role of Lagrange

More information

Causal, Explanatory Forecasting. Analysis. Regression Analysis. Simple Linear Regression. Which is Independent? Forecasting

Causal, Explanatory Forecasting. Analysis. Regression Analysis. Simple Linear Regression. Which is Independent? Forecasting Causal, Explanatory Forecastng Assumes cause-and-effect relatonshp between system nputs and ts output Forecastng wth Regresson Analyss Rchard S. Barr Inputs System Cause + Effect Relatonshp The job of

More information

Multivariate EWMA Control Chart

Multivariate EWMA Control Chart Multvarate EWMA Control Chart Summary The Multvarate EWMA Control Chart procedure creates control charts for two or more numerc varables. Examnng the varables n a multvarate sense s extremely mportant

More information

The Effects of Tax Rate Changes on Tax Bases and the Marginal Cost of Public Funds for Canadian Provincial Governments

The Effects of Tax Rate Changes on Tax Bases and the Marginal Cost of Public Funds for Canadian Provincial Governments The Effects of Tax Rate Changes on Tax Bases and the Margnal Cost of Publc Funds for Canadan Provncal Governments Bev Dahlby a and Ergete Ferede b a Department of Economcs, Unversty of Alberta, Edmonton,

More information

Can Auto Liability Insurance Purchases Signal Risk Attitude?

Can Auto Liability Insurance Purchases Signal Risk Attitude? Internatonal Journal of Busness and Economcs, 2011, Vol. 10, No. 2, 159-164 Can Auto Lablty Insurance Purchases Sgnal Rsk Atttude? Chu-Shu L Department of Internatonal Busness, Asa Unversty, Tawan Sheng-Chang

More information

PROFIT RATIO AND MARKET STRUCTURE

PROFIT RATIO AND MARKET STRUCTURE POFIT ATIO AND MAKET STUCTUE By Yong Yun Introducton: Industral economsts followng from Mason and Ban have run nnumerable tests of the relaton between varous market structural varables and varous dmensons

More information

PRIVATE SCHOOL CHOICE: THE EFFECTS OF RELIGIOUS AFFILIATION AND PARTICIPATION

PRIVATE SCHOOL CHOICE: THE EFFECTS OF RELIGIOUS AFFILIATION AND PARTICIPATION PRIVATE SCHOOL CHOICE: THE EFFECTS OF RELIIOUS AFFILIATION AND PARTICIPATION Danny Cohen-Zada Department of Economcs, Ben-uron Unversty, Beer-Sheva 84105, Israel Wllam Sander Department of Economcs, DePaul

More information

Questions that we may have about the variables

Questions that we may have about the variables Antono Olmos, 01 Multple Regresson Problem: we want to determne the effect of Desre for control, Famly support, Number of frends, and Score on the BDI test on Perceved Support of Latno women. Dependent

More information

Evaluating the Effects of FUNDEF on Wages and Test Scores in Brazil *

Evaluating the Effects of FUNDEF on Wages and Test Scores in Brazil * Evaluatng the Effects of FUNDEF on Wages and Test Scores n Brazl * Naérco Menezes-Flho Elane Pazello Unversty of São Paulo Abstract In ths paper we nvestgate the effects of the 1998 reform n the fundng

More information

HYPOTHESIS TESTING OF PARAMETERS FOR ORDINARY LINEAR CIRCULAR REGRESSION

HYPOTHESIS TESTING OF PARAMETERS FOR ORDINARY LINEAR CIRCULAR REGRESSION HYPOTHESIS TESTING OF PARAMETERS FOR ORDINARY LINEAR CIRCULAR REGRESSION Abdul Ghapor Hussn Centre for Foundaton Studes n Scence Unversty of Malaya 563 KUALA LUMPUR E-mal: ghapor@umedumy Abstract Ths paper

More information

benefit is 2, paid if the policyholder dies within the year, and probability of death within the year is ).

benefit is 2, paid if the policyholder dies within the year, and probability of death within the year is ). REVIEW OF RISK MANAGEMENT CONCEPTS LOSS DISTRIBUTIONS AND INSURANCE Loss and nsurance: When someone s subject to the rsk of ncurrng a fnancal loss, the loss s generally modeled usng a random varable or

More information

Statistical Methods to Develop Rating Models

Statistical Methods to Develop Rating Models Statstcal Methods to Develop Ratng Models [Evelyn Hayden and Danel Porath, Österrechsche Natonalbank and Unversty of Appled Scences at Manz] Source: The Basel II Rsk Parameters Estmaton, Valdaton, and

More information

The Analysis of Covariance. ERSH 8310 Keppel and Wickens Chapter 15

The Analysis of Covariance. ERSH 8310 Keppel and Wickens Chapter 15 The Analyss of Covarance ERSH 830 Keppel and Wckens Chapter 5 Today s Class Intal Consderatons Covarance and Lnear Regresson The Lnear Regresson Equaton TheAnalyss of Covarance Assumptons Underlyng the

More information

The OC Curve of Attribute Acceptance Plans

The OC Curve of Attribute Acceptance Plans The OC Curve of Attrbute Acceptance Plans The Operatng Characterstc (OC) curve descrbes the probablty of acceptng a lot as a functon of the lot s qualty. Fgure 1 shows a typcal OC Curve. 10 8 6 4 1 3 4

More information

x f(x) 1 0.25 1 0.75 x 1 0 1 1 0.04 0.01 0.20 1 0.12 0.03 0.60

x f(x) 1 0.25 1 0.75 x 1 0 1 1 0.04 0.01 0.20 1 0.12 0.03 0.60 BIVARIATE DISTRIBUTIONS Let be a varable that assumes the values { 1,,..., n }. Then, a functon that epresses the relatve frequenc of these values s called a unvarate frequenc functon. It must be true

More information

On the correct model specification for estimating the structure of a currency basket

On the correct model specification for estimating the structure of a currency basket On the correct model specfcaton for estmatng the structure of a currency basket Jyh-Dean Hwang Department of Internatonal Busness Natonal Tawan Unversty 85 Roosevelt Road Sect. 4, Tape 106, Tawan jdhwang@ntu.edu.tw

More information

SIMPLE LINEAR CORRELATION

SIMPLE LINEAR CORRELATION SIMPLE LINEAR CORRELATION Smple lnear correlaton s a measure of the degree to whch two varables vary together, or a measure of the ntensty of the assocaton between two varables. Correlaton often s abused.

More information

Forecasting the Direction and Strength of Stock Market Movement

Forecasting the Direction and Strength of Stock Market Movement Forecastng the Drecton and Strength of Stock Market Movement Jngwe Chen Mng Chen Nan Ye cjngwe@stanford.edu mchen5@stanford.edu nanye@stanford.edu Abstract - Stock market s one of the most complcated systems

More information

Nasdaq Iceland Bond Indices 01 April 2015

Nasdaq Iceland Bond Indices 01 April 2015 Nasdaq Iceland Bond Indces 01 Aprl 2015 -Fxed duraton Indces Introducton Nasdaq Iceland (the Exchange) began calculatng ts current bond ndces n the begnnng of 2005. They were a response to recent changes

More information

Binary Dependent Variables. In some cases the outcome of interest rather than one of the right hand side variables is discrete rather than continuous

Binary Dependent Variables. In some cases the outcome of interest rather than one of the right hand side variables is discrete rather than continuous Bnary Dependent Varables In some cases the outcome of nterest rather than one of the rght hand sde varables s dscrete rather than contnuous The smplest example of ths s when the Y varable s bnary so that

More information

WORKING PAPER. C.D. Howe Institute. The Effects of Tax Rate Changes on Tax Bases and the Marginal Cost of Public Funds for Provincial Governments

WORKING PAPER. C.D. Howe Institute. The Effects of Tax Rate Changes on Tax Bases and the Marginal Cost of Public Funds for Provincial Governments MARCH 211 C.D. Howe Insttute WORKING PAPER FISCAL AND TAX COMPETITIVENESS The Effects of Tax Rate Changes on Tax Bases and the Margnal Cost of Publc Funds for Provncal Governments Bev Dahlby Ergete Ferede

More information

The Analysis of Outliers in Statistical Data

The Analysis of Outliers in Statistical Data THALES Project No. xxxx The Analyss of Outlers n Statstcal Data Research Team Chrysses Caron, Assocate Professor (P.I.) Vaslk Karot, Doctoral canddate Polychrons Economou, Chrstna Perrakou, Postgraduate

More information

High Correlation between Net Promoter Score and the Development of Consumers' Willingness to Pay (Empirical Evidence from European Mobile Markets)

High Correlation between Net Promoter Score and the Development of Consumers' Willingness to Pay (Empirical Evidence from European Mobile Markets) Hgh Correlaton between et Promoter Score and the Development of Consumers' Wllngness to Pay (Emprcal Evdence from European Moble Marets Ths paper shows that the correlaton between the et Promoter Score

More information

CHAPTER 14 MORE ABOUT REGRESSION

CHAPTER 14 MORE ABOUT REGRESSION CHAPTER 14 MORE ABOUT REGRESSION We learned n Chapter 5 that often a straght lne descrbes the pattern of a relatonshp between two quanttatve varables. For nstance, n Example 5.1 we explored the relatonshp

More information

Quality Adjustment of Second-hand Motor Vehicle Application of Hedonic Approach in Hong Kong s Consumer Price Index

Quality Adjustment of Second-hand Motor Vehicle Application of Hedonic Approach in Hong Kong s Consumer Price Index Qualty Adustment of Second-hand Motor Vehcle Applcaton of Hedonc Approach n Hong Kong s Consumer Prce Index Prepared for the 14 th Meetng of the Ottawa Group on Prce Indces 20 22 May 2015, Tokyo, Japan

More information

I. SCOPE, APPLICABILITY AND PARAMETERS Scope

I. SCOPE, APPLICABILITY AND PARAMETERS Scope D Executve Board Annex 9 Page A/R ethodologcal Tool alculaton of the number of sample plots for measurements wthn A/R D project actvtes (Verson 0) I. SOPE, PIABIITY AD PARAETERS Scope. Ths tool s applcable

More information

PSYCHOLOGICAL RESEARCH (PYC 304-C) Lecture 12

PSYCHOLOGICAL RESEARCH (PYC 304-C) Lecture 12 14 The Ch-squared dstrbuton PSYCHOLOGICAL RESEARCH (PYC 304-C) Lecture 1 If a normal varable X, havng mean µ and varance σ, s standardsed, the new varable Z has a mean 0 and varance 1. When ths standardsed

More information

MAPP. MERIS level 3 cloud and water vapour products. Issue: 1. Revision: 0. Date: 9.12.1998. Function Name Organisation Signature Date

MAPP. MERIS level 3 cloud and water vapour products. Issue: 1. Revision: 0. Date: 9.12.1998. Function Name Organisation Signature Date Ttel: Project: Doc. No.: MERIS level 3 cloud and water vapour products MAPP MAPP-ATBD-ClWVL3 Issue: 1 Revson: 0 Date: 9.12.1998 Functon Name Organsaton Sgnature Date Author: Bennartz FUB Preusker FUB Schüller

More information

The covariance is the two variable analog to the variance. The formula for the covariance between two variables is

The covariance is the two variable analog to the variance. The formula for the covariance between two variables is Regresson Lectures So far we have talked only about statstcs that descrbe one varable. What we are gong to be dscussng for much of the remander of the course s relatonshps between two or more varables.

More information

Section 5.4 Annuities, Present Value, and Amortization

Section 5.4 Annuities, Present Value, and Amortization Secton 5.4 Annutes, Present Value, and Amortzaton Present Value In Secton 5.2, we saw that the present value of A dollars at nterest rate per perod for n perods s the amount that must be deposted today

More information

FREQUENCY OF OCCURRENCE OF CERTAIN CHEMICAL CLASSES OF GSR FROM VARIOUS AMMUNITION TYPES

FREQUENCY OF OCCURRENCE OF CERTAIN CHEMICAL CLASSES OF GSR FROM VARIOUS AMMUNITION TYPES FREQUENCY OF OCCURRENCE OF CERTAIN CHEMICAL CLASSES OF GSR FROM VARIOUS AMMUNITION TYPES Zuzanna BRO EK-MUCHA, Grzegorz ZADORA, 2 Insttute of Forensc Research, Cracow, Poland 2 Faculty of Chemstry, Jagellonan

More information

Communication Networks II Contents

Communication Networks II Contents 8 / 1 -- Communcaton Networs II (Görg) -- www.comnets.un-bremen.de Communcaton Networs II Contents 1 Fundamentals of probablty theory 2 Traffc n communcaton networs 3 Stochastc & Marovan Processes (SP

More information

An Evaluation of the Extended Logistic, Simple Logistic, and Gompertz Models for Forecasting Short Lifecycle Products and Services

An Evaluation of the Extended Logistic, Simple Logistic, and Gompertz Models for Forecasting Short Lifecycle Products and Services An Evaluaton of the Extended Logstc, Smple Logstc, and Gompertz Models for Forecastng Short Lfecycle Products and Servces Charles V. Trappey a,1, Hsn-yng Wu b a Professor (Management Scence), Natonal Chao

More information

14.74 Lecture 5: Health (2)

14.74 Lecture 5: Health (2) 14.74 Lecture 5: Health (2) Esther Duflo February 17, 2004 1 Possble Interventons Last tme we dscussed possble nterventons. Let s take one: provdng ron supplements to people, for example. From the data,

More information

Solutions to First Midterm

Solutions to First Midterm rofessor Chrstano Economcs 3, Wnter 2004 Solutons to Frst Mdterm. Multple Choce. 2. (a) v. (b). (c) v. (d) v. (e). (f). (g) v. (a) The goods market s n equlbrum when total demand equals total producton,.e.

More information

1 Approximation Algorithms

1 Approximation Algorithms CME 305: Dscrete Mathematcs and Algorthms 1 Approxmaton Algorthms In lght of the apparent ntractablty of the problems we beleve not to le n P, t makes sense to pursue deas other than complete solutons

More information

1 Example 1: Axis-aligned rectangles

1 Example 1: Axis-aligned rectangles COS 511: Theoretcal Machne Learnng Lecturer: Rob Schapre Lecture # 6 Scrbe: Aaron Schld February 21, 2013 Last class, we dscussed an analogue for Occam s Razor for nfnte hypothess spaces that, n conjuncton

More information

Time Series Analysis in Studies of AGN Variability. Bradley M. Peterson The Ohio State University

Time Series Analysis in Studies of AGN Variability. Bradley M. Peterson The Ohio State University Tme Seres Analyss n Studes of AGN Varablty Bradley M. Peterson The Oho State Unversty 1 Lnear Correlaton Degree to whch two parameters are lnearly correlated can be expressed n terms of the lnear correlaton

More information

Conversion between the vector and raster data structures using Fuzzy Geographical Entities

Conversion between the vector and raster data structures using Fuzzy Geographical Entities Converson between the vector and raster data structures usng Fuzzy Geographcal Enttes Cdála Fonte Department of Mathematcs Faculty of Scences and Technology Unversty of Combra, Apartado 38, 3 454 Combra,

More information

1. Measuring association using correlation and regression

1. Measuring association using correlation and regression How to measure assocaton I: Correlaton. 1. Measurng assocaton usng correlaton and regresson We often would lke to know how one varable, such as a mother's weght, s related to another varable, such as a

More information

George S. Ford, PhD Thomas M. Koutsky, Esq. Lawrence J. Spiwak, Esq. (July 2007)

George S. Ford, PhD Thomas M. Koutsky, Esq. Lawrence J. Spiwak, Esq. (July 2007) PHOENIX CENTER POLICY PAPER SERIES Phoenx Center Polcy Paper Number 29: The Broadband Performance Index: A Polcy-Relevant Method of Comparng Broadband Adopton Among Countres George S. Ford, PhD Thomas

More information

WORKING PAPERS. The Impact of Technological Change and Lifestyles on the Energy Demand of Households

WORKING PAPERS. The Impact of Technological Change and Lifestyles on the Energy Demand of Households ÖSTERREICHISCHES INSTITUT FÜR WIRTSCHAFTSFORSCHUNG WORKING PAPERS The Impact of Technologcal Change and Lfestyles on the Energy Demand of Households A Combnaton of Aggregate and Indvdual Household Analyss

More information

Examples of Multiple Linear Regression Models

Examples of Multiple Linear Regression Models ECON *: Examples of Multple Regresson Models Examples of Multple Lnear Regresson Models Data: Stata tutoral data set n text fle autoraw or autotxt Sample data: A cross-sectonal sample of 7 cars sold n

More information

Analysis of Subscription Demand for Pay-TV

Analysis of Subscription Demand for Pay-TV Analyss of Subscrpton Demand for Pay-TV Manabu Shshkura * Norhro Kasuga ** Ako Tor *** Abstract In ths paper, we wll conduct an analyss from an emprcal perspectve concernng broadcastng demand behavor and

More information

Fuzzy Regression and the Term Structure of Interest Rates Revisited

Fuzzy Regression and the Term Structure of Interest Rates Revisited Fuzzy Regresson and the Term Structure of Interest Rates Revsted Arnold F. Shapro Penn State Unversty Smeal College of Busness, Unversty Park, PA 68, USA Phone: -84-865-396, Fax: -84-865-684, E-mal: afs@psu.edu

More information

Staff Paper. Farm Savings Accounts: Examining Income Variability, Eligibility, and Benefits. Brent Gloy, Eddy LaDue, and Charles Cuykendall

Staff Paper. Farm Savings Accounts: Examining Income Variability, Eligibility, and Benefits. Brent Gloy, Eddy LaDue, and Charles Cuykendall SP 2005-02 August 2005 Staff Paper Department of Appled Economcs and Management Cornell Unversty, Ithaca, New York 14853-7801 USA Farm Savngs Accounts: Examnng Income Varablty, Elgblty, and Benefts Brent

More information

Is There A Tradeoff between Employer-Provided Health Insurance and Wages?

Is There A Tradeoff between Employer-Provided Health Insurance and Wages? Is There A Tradeoff between Employer-Provded Health Insurance and Wages? Lye Zhu, Southern Methodst Unversty October 2005 Abstract Though most of the lterature n health nsurance and the labor market assumes

More information

Is Thailand s Fiscal System Pro-Poor?: Looking from Income and Expenditure Components. Hyun Hwa Son

Is Thailand s Fiscal System Pro-Poor?: Looking from Income and Expenditure Components. Hyun Hwa Son Is Thaland s Fscal System Pro-Poor?: Loong from Income and Expendture Components Hyun Hwa Son The World Ban 88 H Street, NW Washngton, D.C. 20433, U.S.A. Emal: hson@worldban.org Abstract: Ths paper develops

More information

What is Candidate Sampling

What is Candidate Sampling What s Canddate Samplng Say we have a multclass or mult label problem where each tranng example ( x, T ) conssts of a context x a small (mult)set of target classes T out of a large unverse L of possble

More information

Overview of monitoring and evaluation

Overview of monitoring and evaluation 540 Toolkt to Combat Traffckng n Persons Tool 10.1 Overvew of montorng and evaluaton Overvew Ths tool brefly descrbes both montorng and evaluaton, and the dstncton between the two. What s montorng? Montorng

More information

SPEE Recommended Evaluation Practice #6 Definition of Decline Curve Parameters Background:

SPEE Recommended Evaluation Practice #6 Definition of Decline Curve Parameters Background: SPEE Recommended Evaluaton Practce #6 efnton of eclne Curve Parameters Background: The producton hstores of ol and gas wells can be analyzed to estmate reserves and future ol and gas producton rates and

More information

Bargaining at Divorce: The Allocation of Custody

Bargaining at Divorce: The Allocation of Custody Barganng at Dvorce: The Allocaton of Custody Martn Halla Unversty of Lnz & IZA Chrstne Hölzl Unversty of Lnz December 2007 Abstract We model the barganng process of parents over custody at the tme of dvorce.

More information

Underwriting Risk. Glenn Meyers. Insurance Services Office, Inc.

Underwriting Risk. Glenn Meyers. Insurance Services Office, Inc. Underwrtng Rsk By Glenn Meyers Insurance Servces Offce, Inc. Abstract In a compettve nsurance market, nsurers have lmted nfluence on the premum charged for an nsurance contract. hey must decde whether

More information

THE EFFECT OF A CAPITAL BUDGET ON CAPITAL SPENDING IN THE U.S. STATES

THE EFFECT OF A CAPITAL BUDGET ON CAPITAL SPENDING IN THE U.S. STATES THE EFFECT OF A CAPITAL BUDGET ON CAPITAL SPENDING IN THE U.S. STATES Mara Plotnkova Thess submtted to the faculty of the Vrgna Polytechnc Insttute and State Unversty n partal fulfllment of the requrements

More information

Short-run and Long-run structural international tourism demand modeling based on Dynamic AIDS model -An empirical research in Japan-

Short-run and Long-run structural international tourism demand modeling based on Dynamic AIDS model -An empirical research in Japan- hort-run and ong-run structural nternatonal toursm demand modelng based on Dynamc AID model -An emprcal research n Japan- Atsush KOIKE a, Dasuke YOHINO b a Graduate chool of Engneerng, Kobe Unversty, Kobe,

More information

An Analysis of Factors Influencing the Self-Rated Health of Elderly Chinese People

An Analysis of Factors Influencing the Self-Rated Health of Elderly Chinese People Open Journal of Socal Scences, 205, 3, 5-20 Publshed Onlne May 205 n ScRes. http://www.scrp.org/ournal/ss http://dx.do.org/0.4236/ss.205.35003 An Analyss of Factors Influencng the Self-Rated Health of

More information

Proceedings of the Annual Meeting of the American Statistical Association, August 5-9, 2001

Proceedings of the Annual Meeting of the American Statistical Association, August 5-9, 2001 Proceedngs of the Annual Meetng of the Amercan Statstcal Assocaton, August 5-9, 2001 LIST-ASSISTED SAMPLING: THE EFFECT OF TELEPHONE SYSTEM CHANGES ON DESIGN 1 Clyde Tucker, Bureau of Labor Statstcs James

More information

Portfolio Loss Distribution

Portfolio Loss Distribution Portfolo Loss Dstrbuton Rsky assets n loan ortfolo hghly llqud assets hold-to-maturty n the bank s balance sheet Outstandngs The orton of the bank asset that has already been extended to borrowers. Commtment

More information

SIX WAYS TO SOLVE A SIMPLE PROBLEM: FITTING A STRAIGHT LINE TO MEASUREMENT DATA

SIX WAYS TO SOLVE A SIMPLE PROBLEM: FITTING A STRAIGHT LINE TO MEASUREMENT DATA SIX WAYS TO SOLVE A SIMPLE PROBLEM: FITTING A STRAIGHT LINE TO MEASUREMENT DATA E. LAGENDIJK Department of Appled Physcs, Delft Unversty of Technology Lorentzweg 1, 68 CJ, The Netherlands E-mal: e.lagendjk@tnw.tudelft.nl

More information

CHAPTER 7 THE TWO-VARIABLE REGRESSION MODEL: HYPOTHESIS TESTING

CHAPTER 7 THE TWO-VARIABLE REGRESSION MODEL: HYPOTHESIS TESTING CHAPTER 7 THE TWO-VARIABLE REGRESSION MODEL: HYPOTHESIS TESTING QUESTIONS 7.1. (a) In the regresson contet, the method of least squares estmates the regresson parameters n such a way that the sum of the

More information

World Economic Vulnerability Monitor (WEVUM) Trade shock analysis

World Economic Vulnerability Monitor (WEVUM) Trade shock analysis World Economc Vulnerablty Montor (WEVUM) Trade shock analyss Measurng the mpact of the global shocks on trade balances va prce and demand effects Alex Izureta and Rob Vos UN DESA 1. Non-techncal descrpton

More information

Cambodian Child s Wage Rate, Human Capital and Hours Worked Trade-off: Simple Theoretical and Empirical Evidence for Policy Implications

Cambodian Child s Wage Rate, Human Capital and Hours Worked Trade-off: Simple Theoretical and Empirical Evidence for Policy Implications GSIS Workng Paper Seres ambodan hld s Wage Rate, Human aptal and Hours Worked Trade-off: Smple Theoretcal and Emprcal Evdence for Polcy Implcatons Han PHOUMIN Sech FUKUI No. 6 August 2006 Graduate School

More information

DI Fund Sufficiency Evaluation Methodological Recommendations and DIA Russia Practice

DI Fund Sufficiency Evaluation Methodological Recommendations and DIA Russia Practice DI Fund Suffcency Evaluaton Methodologcal Recommendatons and DIA Russa Practce Andre G. Melnkov Deputy General Drector DIA Russa THE DEPOSIT INSURANCE CONFERENCE IN THE MENA REGION AMMAN-JORDAN, 18 20

More information

Analysis of Covariance

Analysis of Covariance Chapter 551 Analyss of Covarance Introducton A common tas n research s to compare the averages of two or more populatons (groups). We mght want to compare the ncome level of two regons, the ntrogen content

More information

The Development of Web Log Mining Based on Improve-K-Means Clustering Analysis

The Development of Web Log Mining Based on Improve-K-Means Clustering Analysis The Development of Web Log Mnng Based on Improve-K-Means Clusterng Analyss TngZhong Wang * College of Informaton Technology, Luoyang Normal Unversty, Luoyang, 471022, Chna wangtngzhong2@sna.cn Abstract.

More information

Financial Instability and Life Insurance Demand + Mahito Okura *

Financial Instability and Life Insurance Demand + Mahito Okura * Fnancal Instablty and Lfe Insurance Demand + Mahto Okura * Norhro Kasuga ** Abstract Ths paper estmates prvate lfe nsurance and Kampo demand functons usng household-level data provded by the Postal Servces

More information

Ibon Galarraga, Luis M. Abadie and Alberto Ansuategi. 5 th Atlantic Workshop on Energy and Environmental Economics A Toxa, 2012

Ibon Galarraga, Luis M. Abadie and Alberto Ansuategi. 5 th Atlantic Workshop on Energy and Environmental Economics A Toxa, 2012 ECONOMIC EFFICIENCY, ENVIRONMENTAL EFFECTIVENESS AND POLITICAL FEASIBILITY OF ENERGY EFFICIENCY REBATES: THE CASE OF THE SPANISH ENERGY EFFICIENCY RENOVE PLAN. Ibon Galarraga, Lus M. Abade and Alberto

More information

Education and Labor Market Activity of Women: An Age-Group Specific Empirical Analysis

Education and Labor Market Activity of Women: An Age-Group Specific Empirical Analysis Clauda Münch Sweder van Wjnbergen Arjan Lejour Educaton and Labor Market Actvty of Women: An Age-Group Specfc Emprcal Analyss Dscusson Paper 11/2009-050 November, 2009 Educaton and labor market actvty

More information

Graph Theory and Cayley s Formula

Graph Theory and Cayley s Formula Graph Theory and Cayley s Formula Chad Casarotto August 10, 2006 Contents 1 Introducton 1 2 Bascs and Defntons 1 Cayley s Formula 4 4 Prüfer Encodng A Forest of Trees 7 1 Introducton In ths paper, I wll

More information

Descriptive Statistics (60 points)

Descriptive Statistics (60 points) Economcs 30330: Statstcs for Economcs Problem Set 2 Unversty of otre Dame Instructor: Julo Garín Sprng 2012 Descrptve Statstcs (60 ponts) 1. Followng a recent government shutdown, Mnnesota Governor Mark

More information

Module 2 LOSSLESS IMAGE COMPRESSION SYSTEMS. Version 2 ECE IIT, Kharagpur

Module 2 LOSSLESS IMAGE COMPRESSION SYSTEMS. Version 2 ECE IIT, Kharagpur Module LOSSLESS IMAGE COMPRESSION SYSTEMS Lesson 3 Lossless Compresson: Huffman Codng Instructonal Objectves At the end of ths lesson, the students should be able to:. Defne and measure source entropy..

More information

Aryabhata s Root Extraction Methods. Abhishek Parakh Louisiana State University Aug 31 st 2006

Aryabhata s Root Extraction Methods. Abhishek Parakh Louisiana State University Aug 31 st 2006 Aryabhata s Root Extracton Methods Abhshek Parakh Lousana State Unversty Aug 1 st 1 Introducton Ths artcle presents an analyss of the root extracton algorthms of Aryabhata gven n hs book Āryabhatīya [1,

More information

Willingness to Pay for Health Insurance: An Analysis of the Potential Market for New Low Cost Health Insurance Products in Namibia

Willingness to Pay for Health Insurance: An Analysis of the Potential Market for New Low Cost Health Insurance Products in Namibia Wllngness to Pay for Health Insurance: An Analyss of the Potental Market for New Low Cost Health Insurance Products n Namba Abay Asfaw Center for Dsease Control and Preventon\Natonal Insttute for Occupatonal

More information

Introduction to Regression

Introduction to Regression Introducton to Regresson Regresson a means of predctng a dependent varable based one or more ndependent varables. -Ths s done by fttng a lne or surface to the data ponts that mnmzes the total error. -

More information

Single and multiple stage classifiers implementing logistic discrimination

Single and multiple stage classifiers implementing logistic discrimination Sngle and multple stage classfers mplementng logstc dscrmnaton Hélo Radke Bttencourt 1 Dens Alter de Olvera Moraes 2 Vctor Haertel 2 1 Pontfíca Unversdade Católca do Ro Grande do Sul - PUCRS Av. Ipranga,

More information

Discount Rate for Workout Recoveries: An Empirical Study*

Discount Rate for Workout Recoveries: An Empirical Study* Dscount Rate for Workout Recoveres: An Emprcal Study* Brooks Brady Amercan Express Peter Chang Standard & Poor s Peter Mu** McMaster Unversty Boge Ozdemr Standard & Poor s Davd Schwartz Federal Reserve

More information

The Complementarities of Competition in Charitable Fundraising

The Complementarities of Competition in Charitable Fundraising The Complementartes of Competton n Chartable Fundrasng Andreas Lange Unversty of Hamburg Department of Economcs Von-Melle-Park 5 D-20146 Hamburg Germany andreas.lange@wso.un-hamburg.de Andrew Stockng Congressonal

More information

School tracking and development of cognitive skills additional results

School tracking and development of cognitive skills additional results ömmföäflsäafaäsflassflassflas fffffffffffffffffffffffffffffffffff Dscusson Papers School trackng and development of cogntve sklls addtonal results Sar Pekkala Kerr Wellesley College Tuomas Pekkarnen Aalto

More information

Gravity, Bilateral Agreements, and Trade Diversion in the Americas*

Gravity, Bilateral Agreements, and Trade Diversion in the Americas* Cuadernos de Economía, Vol. 46 (Mayo), pp. 3-31, 2009 Gravty, Blateral Agreements, and Trade Dverson n the Amercas* Raymond Robertson Macalester College Anton Estevadeordal Inter-Amercan Development Bank

More information

Risk-based Fatigue Estimate of Deep Water Risers -- Course Project for EM388F: Fracture Mechanics, Spring 2008

Risk-based Fatigue Estimate of Deep Water Risers -- Course Project for EM388F: Fracture Mechanics, Spring 2008 Rsk-based Fatgue Estmate of Deep Water Rsers -- Course Project for EM388F: Fracture Mechancs, Sprng 2008 Chen Sh Department of Cvl, Archtectural, and Envronmental Engneerng The Unversty of Texas at Austn

More information

Exhaustive Regression. An Exploration of Regression-Based Data Mining Techniques Using Super Computation

Exhaustive Regression. An Exploration of Regression-Based Data Mining Techniques Using Super Computation Exhaustve Regresson An Exploraton of Regresson-Based Data Mnng Technques Usng Super Computaton Antony Daves, Ph.D. Assocate Professor of Economcs Duquesne Unversty Pttsburgh, PA 58 Research Fellow The

More information

DEFINING %COMPLETE IN MICROSOFT PROJECT

DEFINING %COMPLETE IN MICROSOFT PROJECT CelersSystems DEFINING %COMPLETE IN MICROSOFT PROJECT PREPARED BY James E Aksel, PMP, PMI-SP, MVP For Addtonal Informaton about Earned Value Management Systems and reportng, please contact: CelersSystems,

More information

Conditional Cash Transfers, Schooling and Child Labor: Micro-Simulating Bolsa Escola 1

Conditional Cash Transfers, Schooling and Child Labor: Micro-Simulating Bolsa Escola 1 Frst Draft: September 00 Ths Draft: May 003 Condtonal Cash Transfers, Schoolng and Chld Labor: Mcro-Smulatng Bolsa Escola Franços Bourgugnon, Francsco H. G. Ferrera and Phllppe G. Lete JEL Codes: Key Words:

More information

A Secure Password-Authenticated Key Agreement Using Smart Cards

A Secure Password-Authenticated Key Agreement Using Smart Cards A Secure Password-Authentcated Key Agreement Usng Smart Cards Ka Chan 1, Wen-Chung Kuo 2 and Jn-Chou Cheng 3 1 Department of Computer and Informaton Scence, R.O.C. Mltary Academy, Kaohsung 83059, Tawan,

More information

Returns to Experience in Mozambique: A Nonparametric Regression Approach

Returns to Experience in Mozambique: A Nonparametric Regression Approach Returns to Experence n Mozambque: A Nonparametrc Regresson Approach Joel Muzma Conference Paper nº 27 Conferênca Inaugural do IESE Desafos para a nvestgação socal e económca em Moçambque 19 de Setembro

More information

Exploration funding and the mineral investment climate

Exploration funding and the mineral investment climate ABSTRACT Exploraton fundng and the mneral nvestment clmate Irna Khndanova Unversty of Denver Ths study analyzes how senstve exploraton fundng s to nvestment clmate changes. The paper conducts a separate

More information

Military Conscription and University Enrolment: Evidence from Italy

Military Conscription and University Enrolment: Evidence from Italy DISCUSSION PAPER SERIES IZA DP No. 4212 Mltary Conscrpton and Unversty Enrolment: Evdence from Italy Gorgo D Petro June 2009 Forschungsnsttut zur Zukunft der Arbet Insttute for the Study of Labor Mltary

More information

Analysis of Premium Liabilities for Australian Lines of Business

Analysis of Premium Liabilities for Australian Lines of Business Summary of Analyss of Premum Labltes for Australan Lnes of Busness Emly Tao Honours Research Paper, The Unversty of Melbourne Emly Tao Acknowledgements I am grateful to the Australan Prudental Regulaton

More information