The purpose of this study is to examine the bi-directional causality between political uncertainty and the market risk premium in the US.
Abstract
Purpose
The purpose of this study is to examine the bi-directional causality between political uncertainty and the market risk premium in the US.
Design/methodology/approach
I use a theoretical model to motivate signs and then check signs based on a vector autoregression.
Findings
I find that political uncertainty has a small positive, delayed effect on the market risk premium. The market risk premium, on the other hand, has a large permanent, negative effect on political uncertainty.
Originality/value
This is the first research paper to consider the bi-directional effects of political uncertainty on the market risk premium and vice versa. It also finds interesting empirical results.
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Boyka Stoykova, Robin Dowie, Richard P.F. Gregory, Kathleen V. Rowsell and Stephen Lane
An “event” tree technique was used alongside conventional methods for structuring and reporting an audit of ambulance services in Lancashire, UK, for patients with suspected acute…
Abstract
An “event” tree technique was used alongside conventional methods for structuring and reporting an audit of ambulance services in Lancashire, UK, for patients with suspected acute myocardial infarction (AMI) and cases of cardiac arrest. The audit covered 4,100 patients attended by ambulance crews. Cross tabulations showed that audit targets were not achieved for recording heart rhythms in non‐arrest cases, administering aspirin and intravenous cannulation. The event tree, linked electronically with the audit database, demonstrated explicitly that only one‐third of non‐arrest patients received all three procedures. With cardiac arrests, the event tree showed that survival rates to hospital were similar for patients in ventricular fibrillation who were defibrillated regardless of whether or not they received anti‐arrhythmic drugs. Interpretation of their performance levels is facilitated by the event‐tree technique that allows relationships between clinical procedures and outcomes of ambulance journeys to be displayed.
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Robin Dowie, Richard P.F. Gregory, Kathleen V. Rowsell, Shân Annis, A.D. Gick and Christopher J. Harrison
The paper discusses how a decision analytic framework has been used by an English health authority in relation to the commissioning of ambulance cardiac services. Strategies for…
Abstract
The paper discusses how a decision analytic framework has been used by an English health authority in relation to the commissioning of ambulance cardiac services. Strategies for the management by ambulance personnel of victims of cardiac arrest and persons with acute chest pain of cardiac origin were modelled in a decision‐event tree, and a bibliographic database established. The international research literature prior to 1997 was searched in order to derive probability values for the tree. However, after checking whether the sub‐groupings of results in the papers were in accordance with the variables in the tree, the number of useful papers on acute chest pain was found to be only two. In the almost complete absence of information ‐ even from small observational studies ‐ on the management of the great majority of patients with cardiac symptoms transported by ambulance, the local ambulance service and the main providers of hospital services in the district are now collaborating in field studies of cardiac care in order to improve the inputs into the model.
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This chapter investigates the nature of the transformation of macroeconomics by focusing on the impact of the Great Depression on economic doctrines. There is no doubt that the…
Abstract
This chapter investigates the nature of the transformation of macroeconomics by focusing on the impact of the Great Depression on economic doctrines. There is no doubt that the Great Depression exerted an enormous influence on economic thought, but the exact nature of its impact should be examined more carefully. In this chapter, I examine the transformation from a perspective which emphasizes the interaction between economic ideas and economic events, and the interaction between theory and policy rather than the development of economic theory. More specifically, I examine the evolution of what became known as macroeconomics after the Depression in terms of an ongoing debate among the “stabilizers” and their critics. I further suggest using four perspectives, or schools of thought, as measures to locate the evolution and transformation; the gold standard mentality, liquidationism, the Treasury view, and the real-bills doctrine. By highlighting these four economic ideas, I argue that what happened during the Great Depression was the retreat of the gold standard mentality, the complete demise of liquidationism and the Treasury view, and the strange survival of the real-bills doctrine. Each of those transformations happened not in response to internal debates in the discipline, but in response to government policies and real-world events.
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President Bill Clinton has had many opponents and enemies, most of whom come from the political right wing. Clinton supporters contend that these opponents, throughout the Clinton…
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President Bill Clinton has had many opponents and enemies, most of whom come from the political right wing. Clinton supporters contend that these opponents, throughout the Clinton presidency, systematically have sought to undermine this president with the goal of bringing down his presidency and running him out of office; and that they have sought non‐electoral means to remove him from office, including Travelgate, the death of Deputy White House Counsel Vincent Foster, the Filegate controversy, and the Monica Lewinsky matter. This bibliography identifies these and other means by presenting citations about these individuals and organizations that have opposed Clinton. The bibliography is divided into five sections: General; “The conspiracy stream of conspiracy commerce”, a White House‐produced “report” presenting its view of a right‐wing conspiracy against the Clinton presidency; Funding; Conservative organizations; and Publishing/media. Many of the annotations note the links among these key players.
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Alexandra L. Ferrentino, Meghan L. Maliga, Richard A. Bernardi and Susan M. Bosco
This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in…
Abstract
This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in business-ethics and accounting’s top-40 journals this study considers research in eight accounting-ethics and public-interest journals, as well as, 34 business-ethics journals. We analyzed the contents of our 42 journals for the 25-year period between 1991 through 2015. This research documents the continued growth (Bernardi & Bean, 2007) of accounting-ethics research in both accounting-ethics and business-ethics journals. We provide data on the top-10 ethics authors in each doctoral year group, the top-50 ethics authors over the most recent 10, 20, and 25 years, and a distribution among ethics scholars for these periods. For the 25-year timeframe, our data indicate that only 665 (274) of the 5,125 accounting PhDs/DBAs (13.0% and 5.4% respectively) in Canada and the United States had authored or co-authored one (more than one) ethics article.
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Officially, of course, the world is now post-imperial. The Q’ing and Ottoman empires fell on the eve of World War I, and the last Leviathans of Europe's imperial past, the…
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Officially, of course, the world is now post-imperial. The Q’ing and Ottoman empires fell on the eve of World War I, and the last Leviathans of Europe's imperial past, the Austro-Hungarian and Tsarist empires, lumbered into the grave soon after. Tocsins of liberation were sounded on all sides, in the name of democracy (Wilson) and socialism (Lenin). Later attempts to remake and proclaim empires – above all, Hitler's annunciation of a “Third Reich” – now seem surreal, aberrant, and dystopian. The Soviet Union, the heir to the Tsarist empire, found it prudent to call itself a “federation of socialist republics.” Mao's China followed suit. Now, only a truly perverse, contrarian regime would fail to deploy the rhetoric of democracy.