This study analyzes the causal relationship between oil prices and production costs their implication over hedging in companies. Two different data sets have been used as a proxy for costs: i) monthly product price index related to activities from Bureau of Labour Statistics; ii) yearly obtained reports publicly traded For price, future contracts Brent (1M, 12M, 24M, 60M) explored. Based on Gra...

In this paper we provide a unified methodology for conducting likelihood-based inference on the unknown parameters of a general class of discrete-time stochastic volatility (SV) models, characterized by both a leverage effect and jumps in returns. Given the nonlinear/non-Gaussian state-space form, approximating the likelihood for the parameters is conducted with output generated by the particle...

abstract the purpose of this paper is to test the hypothesis first proposed by romer (1993); suggesting that inflation is lower in more open economies. according to this hypothesis, central banks have a lower incentive to engineer surprise inflations in more-open economies because the phillips curve is steeper. furthermore, comparing with other empirical studies, this paper has used the new kof...

Pendrin is a Cl-/HCO3- exchanger expressed in type B and non-A, non-B intercalated cells in the distal nephron, where it facilitates Cl- absorption and is involved in Na+ absorption and acid-base balance. Pendrin-knockout mice show no fluid-electrolyte abnormalities under baseline conditions, although mice with double knockout of pendrin and the Na+/Cl- cotransporter (NCC) manifest profound sal...

An identity links the rate of economic growth, the speed of poverty reduction and changes in the distribution of income during some time period in a given country. A few authors used that identity to understand the causes for observed changes in poverty and to identify the exact role of economic growth in poverty reduction. Yet, many empirical cross-country studies of the relationship between g...

This paper explains why the overall stance of monetary policy is effected by both interest rates and the exchange rate, and hence why a Monetary Conditions Indicator can provide useful information about the stance of policy. Three output gap equations estimated in this paper reveal that the real interest rate and the real exchange rate both affect excess demand but that the real interest rate i...

The assessment of residual tumors after treatment of malignant lymphoma (ML) is often difficult. Here we report a case of non-Hodgkin’s lymphoma with a huge sacral tumor. After chemotherapy and following radiation therapy, a residual mass was detected on magnetic resonance imaging (MRI). However, a hypermetabolic lesion in the sacrum disappeared on Ffluorodeoxyglucose positron emission tomograp...

energy as an important production factor has significant effects on economic growth. identifying the relationship between energy and economic growth can help to improve governmental energy policies. applying ardl and ecm methods, this paper examines the longrun and shortrun causality relationships between (1) energy consumption and economic growth and (2) energy consumption and employment in va...