This paper develops an estimated hybrid model that combines the micro-founded DSGE model with the flexibility of the theoretical VAR model. The model is estimated via the maximum likelihood technique based on quarterly data on real Gross National Product (GNP), consumption, investment and hours worked, for the South African economy, over the period of 1970:1 to 2000:4. Based on a recursive esti...

Intangible capital has arguably become an important component of corporate value. However, it is still an open question whether uncertainty associated with investment in intangible capital is higher or lower than physical capital. We estimate the value of intangible capital in a dynamic stochastic general equilibrium model that features capital adjustment costs, investment-speci c technological...

Analyzing International Monetary Fund (IMF) data, we find that overly optimistic growth expectations for a country induce economic contractions few years later. To isolate the causal effect, take an instrumental variable approach—exploiting randomness in allocation of IMF mission chiefs. We first document chiefs differ their individual degrees forecast optimism, yielding quasi-experimental vari...

Dental caries continues to be one of the most prevalent chronic diseases worldwide. A multi-factorial disease that involves tooth structure, oral microbiota, and dietary carbohydrates, “tooth decay” results in the dissolution of the mineral content of teeth and must be thought of as dependent on its key contributing factors. With ramifications ranging from societal to psychological to medical, ...

(2008) A prevalent variant in PPP1R3A impairs glycogen synthesis and reduces muscle glycogen content in humans and mice. PLoS Med 5(1): e27. All of the other authors listed on this paper agree to this change in the authorship. We have contacted both Dr. Bhavana Solanky and Dr. Dinesh Deelchand, who have confirmed that it is appropriate for them to be listed as authors on the paper and that they...

Background and Purpose—The purpose of this study was to report the detection of infarcts of the cerebral cortex in a patient with cerebral autosomal-dominant arteriopathy with subcortical infarcts and leukoencephalopathy (CADASIL) using high-resolution postmortem 7-T MRI in association with pathological examination. Methods—Whole brain high-resolution MRI data were obtained postmortem at 7 T in...

This paper considers labour supply and demand shocks in a simple flow model of the labour market. We consider the propagation of these shocks in a matching model with competition between various groups of job seekers. By way of simulations we explore the extent of labour market hysteresis arising from competition between unemployed job seekers and job seekers outside the labour force. The simul...

This paper develops a Bayesian Vector Error Correction Model (BVECM) for forecasting inventory investment in South Africa. The model is estimated using quarterly data on actual sales, production, unfilled orders, price levels and interest rates, for the period of 1978 to 2000. The out-of-sample-forecast accuracy obtained from the BVECM, over the forecasting horizon of 2001:1 to 2003:4, is compa...

(2008) A prevalent variant in PPP1R3A impairs glycogen synthesis and reduces muscle glycogen content in humans and mice. PLoS Med 5(1): e27. All of the other authors listed on this paper agree to this change in the authorship. We have contacted both Dr. Bhavana Solanky and Dr. Dinesh Deelchand, who have confirmed that it is appropriate for them to be listed as authors on the paper and that they...