In this paper we develop a dynamic discrete-time bivariate probit model, in which the conditions for Granger non-causality can be represented and tested. The conditions for simultaneous independence are also worked out. The model is extended in order to allow for covariates, representing individual as well as time heterogeneity. The proposed model can be estimated by Maximum Likelihood. Granger...

Viewpoint: Estimating the Causal Effects of Policies and Programs* Estimation, inference and interpretation of the causal effects of programs and policies have all advanced dramatically over the past 25 years. We highlight three particularly important intellectual trends: an improved appreciation of the substantive importance of heterogeneous responses and of their methodological implications, ...

In the absence of uniformly most powerful (UMP) tests or uniformly most powerful invariant (UMPI) tests, King (1987c) suggested the use of Point Optimal (PO) tests, which are most powerful at a chosen point under the alternative hypothesis. This paper surveys the literature and major developments on point optimal testing since 1987 and suggests some areas for future research. Topics include tes...

Abstract The method and parameter of mixing are crucial to the quality concrete, ordinary vibratory is beneficial performance which has been explored in numerous studies. In order study influence high-frequency on concrete more accurately, C40, C50 steel fiber C60 high-strength selected make reach experiments article. After determining optimum ratio, contrast experiment forced (which at a given...

The aim of study was to explore the dry distilled rose petals extract (DDRPE) addition Bulgarian lukanka type fermented sausages with half-reduced nitrate content. There studied antioxidative effect DDRPE in filling mass on color characteristics, pH, acid value (AV), peroxide (POV), TBARS and sensory characteristics. Four samples: C100 - 0.500 g/kg without DDRPE, C50 0.250 R1 1.140 R2 2.280 wer...

This paper presents an acoustic reconstruction of the UK House Commons between c. 1820 and 1834. Focusing on a historically important site where political decisions were debated over centuries, we aim to simulate present intangible principles properties sounds heard within space. The model was created based available historical evidence with aid commercial simulation software. We discuss made f...

Various 6-aralkyl-9-substituted-6H-indolo[2,3-b]quinoxalines were synthesized by reaction of 1,5-disubstituted 2,3-dioxo-2,3-dihydroindole and orthophenylene diamine. Appreciable anticancer activity of compounds 5b, 5d, 5g and 5l at various cell lines among 59 human tumor cell panels was observed. All the synthesized compounds were evaluated for cytostatic activity against human Molt 4/C8 and C...

The effects of loading rate on the reinforced concrete beams are experimentally studied in the present paper. Firstly, the effects of strain rate on the different grades of concrete are investigated using the electro-hydraulic servo-controlled testing system at the strain rate that might be experienced during earthquakes. Based on the test results, the dynamic increasing factors (DIF) of concre...

We present the regression-based Monte Carlo simulation algorithms for solving the stochastic control models associated with pricing and hedging of the Guaranteed Lifelong Withdrawal Benefit (GLWB) in variable annuities, where the dynamics of the underlying fund value is assumed to evolve according to the stochastic volatility model. The GLWB offers a lifelong withdrawal benefit even when the po...

We apply a logistic smooth transition market model (LSTM) to a sample of returns on Australian industry portfolios to investigate whether bull and bear market betas differ. Unlike other studies, our LSTM model allows for smooth transition between bull and bear states and allows the data to determine the threshold value. The estimated value of the smoothness parameter was very large for all indu...