Criteria for the Stochastic Ordering of Random Sums,with Actuarial Applications

It is shown that vectors ( S M 1 , … , S Mn ) and ( S' M'1 , …, S' M'n ) of random sums of positive random variables are stochastically ordered by upper orthant dependence, lower orthant dependence, concordance or by the supermodular ordering whenever their corresponding random numbers of terms ( M 1 , … , M n ) and ( M' 1 , … , M' n ) are themselves ordered in this fashion. Actuarial applications of these results are given to different dependence structures for the collective risk model with several classes of business.     

Measuring the Impact of Direct and Indirect R&D on the Productivity Growth of Industries: Using the Yale Technology Concordance

This paper investigates the impact of direct and indirect R&D on the productivity growth of 30 French industries during the period 1978–92. The main aim of this paper is to assess the appropriateness of the Yale Technology Concordance (YTC) as a proxy for indirect R&D flows. We compare the effect on productivity growth of the Yale proxy with the traditional proxy based on goods input–output flows, and assess their suitability for different groups of industries. Results indicate that the indirect YTC proxy performs slightly better than the traditional proxy, as a result of superior performance in the high-tech and service sectors in particular.     

Introduction: Invention Input–Output Analysis

The papers in this issue are directed towards the development of invention input–output (I(IO)) coefficients. They discuss the procedures for creating I(IO) coefficients using the Yale Technology Concordance, which assigns patented inventions to the industry of manufacture and sector of use, utilizing the International Patent Class system. Tests of reliability of the I(Io) coefficients and their use in economic studies are reported.     

Assigning Patents to Industries: Tests of the Yale Technology Concordance

We describe a method to predict patent counts disaggregated by industry, using available data on patenting by technology field. This method—the Yale Technology Concordance (YTC)—exploits a data set of patents that have been individually assigned by the Canadian Patent Office to both an industry and a technology field. The procedure for predicting patents by industry is developed as a statistical model so that the standard errors of the predictions can be estimated. The YTC is tested on several subsets of Canadian patents by comparing out-of-sample predictions with industry assignments made by the Canadian Patent Office. We find that the predictions of patents by industry are quite accurate for the subset of patents form US inventors. The prediction errors are much greater for the subset of patents granted or published after 1989. This suggests that the relationship between the technology fields and industries has shifted in a way that the procedure does not capture. Nonetheless, predictions from the YTC do appear to give a reasonably accurate picture of the pattern of patenting by industry.     

Application of the Yale Technology Concordance to the Construction of International Spillover Variables for India

Although there is increased interest in the role of international technology spillovers, empirical studies have been hampered by a host of measurement problems. This paper reviews recent attempts to address two of these problems. First, there are differing degrees of transferability of technology from one region to another. Second, both embodied and disembodied technology are transferred, and these different modes of transfer have distinct implications for both behavior and policy. To deal with the first measurement problem, the Yale Technology Concordance (YTC)—a matrix that maps patents into industries of manufacture and sectors of use—was used to construct indices of relevance of foreign technology to India. To deal with the second measurement problem, the YTC was again used to construct pools of embodied and disembodied international technology. After describing the variable construction, the paper highlights the performance of these variables in equations that predict Indian firms' R&D, technology purchases and output.     

Technology Flows Between Industries: Identification and Productivity Effects

This paper investigates whether the Yale Technology Concordance (YTC) succeeds in identzbing technology flows between sectors. As a test, total factor productivity (TFP)-R&D regressions based on the YTC matrix are compared with regressions using technology flow data constructed fram input–output matrices and randomly created interindusty linkages. Because results based on the YTC do not dzffer markedly from the other estimates, one cannot easily infer @om the empirical evidence whether the YTC matrix appropriately captures interindusty technology flows or not.     

构件化开发方法在语料分析软件中的应用

在综述了基于构件的软件开发方法的基础上,该文以教学语料分析软件的实践为例阐明了基于构件软件开发的设计思路和开发过程,对提高软件质量和开发效率的方法进行了有益的研究和探索,具有推广价值.     

Stock market cycles, financial liberalization and volatility

In this paper we analyze the cycles of the stock markets in four Latin American and two Asian countries, and we compare their characteristics. We divide our sample in two subperiods in order to account for differences induced by the financial liberalization processes of the early 1990s. We find that cycles in emerging countries tend to have shorter duration and larger amplitude and volatility than in developed countries. However, after financial liberalization Latin American stock markets have behaved more similarly to stock markets in developed countries whereas Asian countries have become more dissimilar. Concordance of cycles across markets has increased significantly over time, especially for Latin American countries after liberalization.