A policy debate continues about the relative merits and and negative consequences of federal policies that encourage patent protection to university research results. Given the importance of university research for innovation in many industries, the effects of such policies are of critical importance to firms. This paper examines the impact of the increase in university patenting on the effecti...

We introduce new approaches to research on poverty traps, focusing on changes in patterns of equilibria over time and across regions, applied to the Ethiopia Rural Household Survey. We revisit the incidence of multiple equilibria using new nonparametric techniques; we also emphasize conditions of single equilibria that remain stagnant below the poverty line. We identify a single equilibrium in ...

The "big-bang" liberalization of the inefficient Russian economy in 1992 provides a fruitful setting for analyzing the impact of several dimensions of market competition and other factors on enterprise efficiency. We analyze 1992-1998 panel data on 14,961 enterprises covering 75 percent of industrial employment, emphasizing the varied sources, geographic scope, intensity, time path, and surviva...

How much do hoteliers actually make use of dynamic pricing strategies? We collected data on the price of a single room booked in advance (from three months to a single day), from almost 1000 hotels in eight European capital cities. Pricing strategies were analyzed by means of descriptive statistics, box plots and econometric panel data techniques. The empirical results show that the inter-tempo...

The aim of this study is to examine the effects of terrorism on economic growth experienced worldwide. More precisely these terrorist incidents and its effects on economic growth in most countries are classified according to income groups. In this respect, we conduct a panel study (FE and RE models) to analyze the number of terrorist incidents in these countries and the data range from 2000 to ...

Ratings issued by credit rating agencies (CRAs) play an important role in the global financial environment. Among other issues, past studies have explored the potential for predicting these ratings using a variety of explanatory factors and modeling approaches. This paper describes a multicriteria classification approach that combines accounting data with a structural default prediction model i...

We build a unique industry-level panel data set to estimate border effects with respect to U.S.Canada trade for each year from 1992 to 2005. Estimates from data aggregated at the province/state level yield border effects in the early 1990s that increase slightly and then decline after the implementation of the North American Free Trade Agreement (NAFTA), but significantly increase after 2001. R...

This paper presents evidence on the contribution of public capital (infrastructure) to aggregate economic performance using panel data for the U.S. states from 1970 to 2005. Attempts to quantify the role of public or government capital in the production of aggregate output have been beset by thorny econometric issues since the early 1990s. We present estimates of the output elasticity of public...

This paper proposes a Bayesian nonparametric regression model of panel data for sequential pattern classification. The proposed method provides a flexible and parsimonious model that allows both time-independent spatial variables and time-dependent exogenous variables to be predictors. Not only this method improves the accuracy of parameter estimation for limited data, but also it facilitates m...

We present here a novel genetic algorithm-based random forest (GARF) modeling technique that enables a reduction in the complexity of large gene disease signatures to highly accurate, greatly simplified gene panels. When applied to 803 glioblastoma multiforme samples, this method allowed the 840-gene Verhaak et al. gene panel (the standard in the field) to be reduced to a 48-gene classifier, wh...