Using a new variable based on a model of dividend smoothing, we find dividend growth is highly predictable and cash flow news contributes importantly to return variability. Cash flow betas derived from this predictability are central to explaining the size effect in the cross section of returns. However, they do not explain the value effect; this is explained by noise betas. We also find that t...

OBJECTIVE Quantification of the maximum anatomical cross-sectional area of the lumbar back muscles as a function of torso flexion angle and development of prediction equations as a function of torso flexion and anthropometric measures. BACKGROUND Cross-sectional areas of the lumbar back muscles used as inputs into biomechanical models have traditionally been derived from subjects lying in the...

This paper sets up a nested random effects spatial autoregressive panel data model to explain annual house price variation for 2000-2007 across 353 local authority districts in England. The estimation problem posed is how to allow for the endogeneity of the spatial lag variable producing the simultaneous spatial spillover of prices across districts together with the nested random effects in a p...

Abstract I study the effects of entry to European Monetary Union (EMU) on relative purchasing power parity (PPP) convergence using monthly disaggregated price indices from 32 countries 1999 2016. examine Cyprus, Malta, Slovakia, and Slovenia EMU, estimate bands inaction prices before after a threshold autoregressive model. find positive effect EMU PPP convergence: entry, with members fell by 17...

We dissect the impact of a large and sudden exchange rate appreciation on Swiss border import prices, retail consumer expenditures domestic imported nondurable goods, following removal EUR/CHF floor in January 2015. Cross-sectional variation price changes by currency invoicing carries over to prices allocations, impacting imports competing as well expenditures. provide measures sensitivity shar...

Public sector price analyses of antiretroviral (ARV) medicines can provide relevant information to detect ARV procurement procedures that do not obtain competitive market prices. Price benchmarks provide a useful tool for programme managers and policy makers to support such planning and policy measures. The aim of the study was to develop regional and global price benchmarks which can be used t...

This paper studies the price of S&P 500 index options by using Heston's (1993) stochastic volatility option pricing model. The Heston model is calibrated by a two-step estimation procedure to incorporate both the information from time-series asset returns and the information from cross-sectional option data. In the first step, the recently developed, simulation-based “indirect inference method”...

Cross-sectional analysis of longitudinal MRI data might be sub-optimal as each dataset is analyzed independently. In this study, we evaluate how much variability can be reduced by analyzing structural volume changes of longitudinal data using longitudinal analysis. We propose a two-part pipeline that consists of longitudinal registration and longitudinal classification. The longitudinal registr...