In this research, we investigate the determinants of international trade, employing a dataset of bilateral trade and economics characteristics in the ASEAN+3 countries. We include a large number of independent variables that potentially drive international trade. We also use various standard gravity model variables to maintain consistency with the current literature. The results provide some important insights into the determinants of bilateral trade and offer policy implications regarding the promotion of international trade for governments worldwide. In particular, we find that output asymmetry between countries positively explains bilateral trade. Moreover, the findings suggest that making use of comparative advantage by differentiating the export product structure is important in promoting international trade. We do not find a consistent impact from bilateral exchange rate volatility on bilateral trade. This result points to the importance of providing opportunities for the hedging of currency uncertainty to avoid its adverse effects on trade. The results for other standard gravity model variables are consistent with the results of previous theoretical and empirical research. 相似文献
We examine a two country model of the EU and the US. Each has a small sector of the labour and product markets in which there is wage/price rigidity, but otherwise enjoys flexible wages and prices with a one quarter information lag. Using a VAR to represent the data, we find the model as a whole is rejected. However it is accepted for real variables, output and the real exchange rate, suggesting mis-specification lies in monetary relationships. The model highlights a lack of spillovers between the US and the EU. 相似文献
We log-linearise the Dellas and Tavlas (DT) model of monetary union and solve it analytically. We find that the intuition
of optimal currency area analysis of DT’s second generation open economy model is essentially the same as that of first generation
models. Monetary union results in no welfare loss if its member states are symmetric. However, asymmetry causes loss in welfare
both due to the failure of the union policy to deal suitably with a country’s asymmetric shocks and due to an active monetary
policy by the union in pursuit of its distinct objectives. The asymmetry in DT is largely due to the differing wage rigidities
across countries.
JEL Classification Numbers: F41, F42, E4 相似文献
To estimate the direct medical costs associated with managing complications, hypoglycemia episodes, and infections associated with type 2 diabetes expressed in 2012 United States dollars (USD).
Methods:
Direct data analysis and microcosting were used to estimate the costs for an event leading to either a hospital admission or outpatient care, and the post-acute care associated with managing macrovascular and microvascular complications, hypoglycemia episodes, and infections. Data were obtained from many sources, including inpatient and emergency department databases, national physician and laboratory fee schedules, government reports, and literature. Event-year costs reflect the resource use during an acute care episode (initial management in an inpatient or outpatient setting) and any subsequent care provided in the first year. State costs reflect annual resource use required beyond the first year for the ongoing management of complications and other conditions. Costs were assessed from the perspective of a comprehensive US healthcare payer and expressed in 2012 USD.
Results:
Event-year costs (and state costs) for macrovascular complications were as follows: myocardial infarction $56,445 ($1904); ischemic stroke $42,119 ($15,541); congestive heart failure $23,758 ($1904); ischemic heart disease $21,406 ($1904); and transient ischemic attack $7388 ($179). For two microvascular complications the event-year and state costs were assumed the same: $71,714 for end stage renal disease, and $2862 blindness. The event-year cost was $9041 for lower extremity amputations, and $2147 for diabetic foot ulcers. Costs were also determined for managing hypoglycemic episodes: $176–$16,478 (depending on treatment required), and infections: vulvovaginal candidiasis $111, lower urinary tract infection $105.
Conclusions:
This study, which provides up-to-date cost estimates per patient, found that managing macrovascular and microvascular complications results in substantial costs to the healthcare system. This study facilitates conduct of other research studies such as modeling the management of diabetes and estimating the economic burden associated with complications. 相似文献
Asia-Pacific Financial Markets - This study investigates the impact of index futures trading on the spot market volatility for Ho Chi Minh Stock Exchange (HOSE). The data used in this study are... 相似文献
In this paper, we investigate the relationship between liquidity and stock returns in the Vietnam stock market during the global financial crisis. Vietnam is one of a new group of frontier emerging markets referred to as CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa). We use a rich and detailed data set of firm characteristics to identify a positive relationship between liquidity and stock returns. This contradicts the negative correlation typically found in stock returns in developed markets. Our results support the proposition that when a market is not fully integrated with the global economy, a lack of liquidity will be a less important risk factor. Our findings contribute to those studies that highlight the diversification benefits from including frontier markets, which have a lower degree of integration with the global economy, in international portfolios. 相似文献
Classification analysis is an important tool to support decision making in customer-centric applications like, e.g., proactively
identifying churners or selecting responsive customers for direct-marketing campaigns. Whereas the development of novel classification
algorithms is a popular avenue for research, corresponding advancements are rarely adopted in corporate practice. This lack
of diffusion may be explained by a high degree of uncertainty regarding the superiority of novel classifiers over well established
counterparts in customer-centric settings. To overcome this obstacle, an empirical study is undertaken to assess the ability
of several novel as well as traditional classifiers to form accurate predictions and effectively support decision making.
The results provide strong evidence for the appropriateness of novel methods and indicate that they offer economic benefits
under a variety of conditions. Therefore, an increase in use of respective procedures can be recommended. 相似文献
In this paper the researchers set out to explore the adoption, character and impact of strategic human resource management (SHRM) in two large metropolitan Vietnamese public hospitals using a multi-level qualitative research design. Data are analyzed from 21 interviews and 5 focus groups with key players from the hospitals and government authorities. Findings show that the State controls many of the core day-to-day HR functions of public hospitals, curtailing local autonomy and management innovation. This is compacted by inadequate government funding, poor training of medical staff, and inadequate management and business skills of hospital managers. Inhibiting greater experimentation with SHRM is the fear of developing management initiatives out of sync with the State. Consequently, many managers and clinicians held negative views of the HR department and their relevance for the day-to-day management of healthcare services. Respondents reported that they perceived these factors had a negative impact on the well-being of medical staff and the quality of patient care. The paper concludes with a discussion on the necessity for continued State reforms that can enable greater autonomy of the hospitals' HRM functions and greater investment in local HR capabilities to materialize the link between SHRM, employee well-being and quality of patient care. 相似文献
This study proposes a new measure of the tradability of 120+ commodities based on price dispersion. This approach is used to construct price indices of tradables and non-tradables for 150+ countries. The expenditure share of tradables is lower for richer countries, while the relative price of non-tradables, which plays an important role in the determination of real exchange rates, is higher. Secondly, a common-factor approach (based on principal components) is introduced to compress the large volume of information on prices and quantities consumed globally. We find that cross-commodity correlations are higher for prices than for consumption. In addition, income is responsible for most of the variation in the first principal component of consumption but explains less of the first price component. This suggests consumption are driven primarily by domestic factors, while prices are determined by factors outside the country, along the lines of the Purchasing Power Parity theory. 相似文献
