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  1. The Role of Pension Funds in the Development of Capital Markets in Latin America [Download]

    Title: The Role of Pension Funds in the Development of Capital Markets in Latin America
    Author: Poch, Juan Pablo
    Description: Over the past two decades, Latin America has stood out as one of the regions with most promising economic fundamentals and potential among emerging markets. Nonetheless, its track record of economic development has lagged in comparison to other developing economies – especially in the Asia-Pacific region – which points to, among various issues, to an underdevelopment of stable and widespread capital markets. The increasing incorporation of capital markets into financial systems historically dominated by banking systems in Latin America facilitates the process of raising and allocating capital while minimizing transaction costs, mitigating risk through diversification, and improving accessibility to economic actors. This paper analyzes the role of pension funds in the development of capital markets in Latin America as both financial intermediaries and institutional investors with distinguishing characteristics and advantages. I use a series of ordinary least squares regressions to test the effect of the growth on pension fund assets in the growth of stock and bond markets while controlling for entity and time fixed effects, and macroeconomic and demographic factors. The results are both positive and statistically significant for both sets of regressions, despite the differing country-specific circumstances. I conclude that the constructive role of pension funds in Latin American capital markets can promote the enhancement of financial systems overall and contribute to the efficient and equitable economic development of countries across the region. Further, I suggest policies that could be implemented to achieve these objectives.
    Keywords: Institutional investors , Bond markets, Stock markets,, Financial reforms, Economic development, Pension funds, Financial intermediation, Macroeconomic policy
    Date Uploaded: 04/17/2018
  2. Examining the 2007 Redenomination of the Ghanaian Cedi on the Disinflation Process Using the Chow Structural Break Test and VAR [Download]

    Title: Examining the 2007 Redenomination of the Ghanaian Cedi on the Disinflation Process Using the Chow Structural Break Test and VAR
    Author: Matsumoto, Riki
    Description: Ghana has experienced high and variable rates of inflation over the past 40 years. While this is no longer the case, inflation remains stubbornly elevated relative to economies of similar size (Magnus & Fosa, 2011). Conventional disinflation policies involve countercyclical monetary policies, reducing fiscal expenditure, and comprehensive economic and political reform. These policies in turn can be bolstered by a currency redenomination; when the nominal value of all prices is reduced. A number of countries such as, Turkey (in 2005), Romania (in 2005), Belarus (in 2006 and 2016) have pursued this strategy, including Ghana (in 2007). The question of whether currency redenomination is an effective qualitative tool in the disinflation process is important because of its potential as an important tool for countries struggling with high and variable rates of inflation. Unfortunately, existing literature has been deficient, and no appropriate techniques have been employed to examine this question. Thus, the goal of this paper is to examine the impact of the Ghanaian currency redenomination in 2007 on the disinflation process using appropriate statistical techniques; the Chow Test and Vector Autoregression (VAR), then evaluate whether it may be an effective policy option for monetary authorities. This paper employed monthly time series data from January 2000 to September 2017 provided by the Bank of Ghana. The results gathered in this paper showed that the Chow Test found a structural break before and after the date of redenomination. However, the bifurcated vector autoregression VAR(3) was inconclusive as to whether the policy itself directly affected the disinflation process. These results suggest that further research is needed to evaluate the potential of currency redenomination as a qualitative tool in the disinflation process. Originality/value – This paper is one of few studies which has investigated the impact of currency redenomination, especially in Africa and Ghana specifically.
    Keywords: Ghana , Monetary policy, Inflation, International macroeconomics inflation, Redenomination, VAR model
    Date Uploaded: 04/17/2018
  3. Asymmetric Campaign Advertising: Partisan Differences in 2014 Congressional Campaign Advertisements [Download]

    Title: Asymmetric Campaign Advertising: Partisan Differences in 2014 Congressional Campaign Advertisements
    Author: Wetter, Daniel
    Description: This preliminary study identified partisan differences in television advertisements for Senate candidates in 2014 and paves the path for further study of partisan differences in campaign advertising more broadly. Analyzing data gathered on all of the television advertisements aired for U.S. Senate candidates in 2014, this research finds distinct partisan styles emanating from both of the major political parties. In particular, the data suggests that candidates for the Republican Party used more cohesive messaging during the 2014 election cycle, while candidates for the Democratic Party advertised on a wider array of issues. These findings align with previous research on partisan asymmetry in the United States, and have important implications for future campaigns. Understanding how campaigns advertise to voters is one of the first steps to addressing growing polarization in Congress.
    Keywords: Political advertising , Campaign communications, 2014 U.S. Senate elections, Campaigns, Political polarization, Elections
    Date Uploaded: 04/17/2018
  4. “The Indian Method of Warring”: Wampum, Warfare, and George Washington’s Lessons in Frontier Diplomacy During the Seven Years’ War [Download]

    Title: “The Indian Method of Warring”: Wampum, Warfare, and George Washington’s Lessons in Frontier Diplomacy During the Seven Years’ War
    Author: LaBrecque, Annabel G.
    Description: Any scholar and student of early American history is well aware that there is no shortage of literature on George Washington. In recent years, scholars have done well to point out that Washington, despite generations of academic and public deification, was just as human as his more easily forgotten contemporaries, a reality evidenced by his (in)famous military mishap in the inter-imperial hinterlands of eastern North America that started the first world war in 1754. Yet Washingtonian literature remains void of a key element of Washington’s experience in Indian country: his experience with Indians. In a biographical history spanning four centuries, there is still yet to be seen a Washington biography detailing his experiences with his nearest foreign foes and allies. This research paper attempts to fill that void. This is not another study of young Washington’s experience in the British colonial militia, but rather a breakdown of the lessons he learned in warfare and diplomacy as a visitor in Native lodges, villages, and territories and how he applied these experiences to British colonial warfare and wartime politics. These lessons are best understood only when Native players are recast in their proper roles, as the kings, half kings, and queens of Indian country. This redistribution of political and historical agency and reconceptualization of monolithic narratives allows us to better understand the inseparability of colonial, early American, and Native American histories.
    Keywords: George Washington, Seven Years’ War, Native America, Colonial America, Native Americans, Colonialism, Imperialism, War, Diplomacy
    Date Uploaded: 04/17/2018
  5. Detection of Exoplanets Using the Transit Method [Download]

    Title: Detection of Exoplanets Using the Transit Method
    Author: Afanasev, Dennis
    Description: Differential photometry was conducted on the star GSC 3281-0800, a known host to exoplanet HAT-P-32b, using analysis software AstroImageJ. Measurements were plotted from a series of images taken during the transit, via ADU count given from an earth-based digital CCD camera. A definite light curve was established and more details about the properties of this exoplanet were discovered.
    Keywords: Exoplanets , Transit method, Differential photometry
    Date Uploaded: 04/17/2018
  6. Association Between Aortic Vascular Inflammation by PET/CT and Aortic Distensibility by MRI in Psoriasis [Download]

    Title: Association Between Aortic Vascular Inflammation by PET/CT and Aortic Distensibility by MRI in Psoriasis
    Author: Shukla, Parag
    Description: Globally, 18 million people die from cardiovascular disease (CVD) annually, making it the leading cause of morbidity and mortality worldwide. In recent years, inflammation has been established as a key cause of CVD, but the effects of anti-inflammatory treatment on cardiovascular (CV) risk remains poorly understood. Psoriasis (PSO), a chronic inflammatory skin disease associated with increased CV events, provides an ideal clinical model to study the role of inflammation in CV disease. Aortic vascular inflammation (VI) by [18F]-fluorodeoxyglucose (FDG) PET/CT as well as aortic distensibility (AD) by MRI, are important markers of subclinical CV disease and have been shown to predict future CV events. Following subclinical markers, such as AD, enables physicians to make judicious treatment decisions before CV events such as stroke, myocardial infarction, or angina occur. Our study demonstrates a novel association between VI and AD in patients with chronic inflammatory disease.
    Keywords: Atherosclerosis, MRI, FDG-PET/CT, Inflammation, Psoriasis
    Date Uploaded: 04/17/2018
  7. Energy Materials Analysis for Additive Manufacturing by Selective Laser Melting [Download]

    Title: Energy Materials Analysis for Additive Manufacturing by Selective Laser Melting
    Author: Gray, Rachel
    Description: This research aimed to improve selective laser melting (SLM) of energy materials for thermoelectric power generation devices. Thermoelectric generators (TEG) are solid state devices that offer the potential for waste heat recovery in combustion and heat process systems. These devices are currently being manufactured using bulk material processing with many integration and assembly steps, leading to decreased product efficiency and high manufacturing costs. Selective laser melting is an additive manufacturing technique, when combined with semiconductive powder offers a solution to these manufacturing challenges.
    Keywords: Thermoelectric generator, Selective laser melting, Powder spreading, Powder morphology
    Date Uploaded: 04/17/2018
  8. The George Washington University Undergraduate Review, Volume 1, Spring 2018 [Download]

    Title: The George Washington University Undergraduate Review, Volume 1, Spring 2018
    Author: GW Undergraduate Review
    Description: Established in 2016, the GW Undergraduate Review (GWUR) is the premier publication of research from undergraduate students at the George Washington University. Our mission is to promote undergraduate research on GW’s campus through events, workshops, and the publication of a peer-reviewed journal. Undergraduate researchers from all academic disciplines are welcome to submit to the journal, which is staffed by editors majoring and minoring across nearly twenty departments at GW. Our organization also publishes the Colonial Scope, an online news blog with a research focus. GWUR is entirely student-run and is supported by the Office of the Vice President for Research. Contents: "Association Between Aortic Vascular Inflammation by PET/CT and Aortic Distensibility by MRI in Psoriasis" PARAG SHUKLA, AMIT DEY, AGASTYA BELUR, JACOB GROENENDYK, YOUSSEF ELNABAWI, ADITYA GOYAL, JUSTIN RODANTE, LEONARD GENOVESE, MARK AHLMAN, MARTIN PLAYFORD, AND NEHAL MEHTA, Clinical Medicine "Energy Materials Analysis for Additive Manufacturing by Selective Laser Melting" RACHEL GRAY, DEVIN JESSUP, AND SANIYA LEBLANC, Materials Science "Detection of Exoplanets Using the Transit Method" DENNIS AFANASEV, Astrophysics “'The Indian Method of Warring': Wampum, Warfare, and George Washington’s Lessons in Frontier Diplomacy During the Seven Years’ War" ANNABEL G. LABRECQUE, History "Asymmetric Campaign Advertising: Partisan Differences in 2014 Congressional Campaign Advertisements" DANIEL A. WETTER, Political Communication "Examining the 2007 Redenomination of the Ghanaian Cedi on the Disinflation Process Using the Chow Structural Break Test and VAR" RIKI MATSUMOTO, International Economics "The Role of Pension Funds in the Development of Capital Markets in Latin America" JUAN PABLO POCH, Financial Economics
    Keywords: Undergraduate research, GWUR, GW Undergraduate Review, Student works, Financial economics, Clinical medicine, Materials science, Astrophysics , History, Political communication, International economics
    Date Uploaded: 04/18/2018
  9. Supplementary Materials and Data for article "Children's Thinking about HIV/AIDS Causality, Prevention, and Social Interaction" (.zip file) [Download]

    Title: Supplementary Materials and Data for article "Children's Thinking about HIV/AIDS Causality, Prevention, and Social Interaction" (.zip file)
    Author: Sigelman, Carol
    Description: Supplementary materials in the attached .zip file for the article published in Journal of Child and Family Studies. Sigelman, C. K. (2018, in press): "Children’s thinking about HIV/AIDS causality, prevention, and social interaction." Article abstract: Guided by both a Piagetian and a naïve theories perspective on disease concepts, this study examined children’s thinking about HIV/AIDS, with special attention to its development, coherence, and sociocultural correlates. It examined age differences among Mexican-American and Euro-American children aged 8 to 13 (N = 158) in both Piagetian level of causal understanding (independent of correctness) and the causal knowledge central to an intuitive theory of AIDS (knowledge of risk behaviors and of the viral disease agent). It explored theoretical coherence in terms of implications of causal understanding and causal knowledge for knowledge of how to prevent AIDS and willingness to interact with people who have it. As predicted, scores on all measures increased significantly with age, and causal knowledge of risk factors exceeded knowledge of corresponding prevention rules. In multiple regression analyses, causal knowledge of both risk factors and the viral disease agent predicted knowledge of prevention and willingness to interact, even with age and other measures controlled. Prevention knowledge predicted willingness to interact even better, whereas the Piagetian measure of casual understanding did not predict either prevention knowledge or willingness to interact. Ethnic group differences were not evident but parent education was related to greater viral knowledge and willingness to interact. The results suggest a good deal of coherence in children’s thinking about this disease while also suggesting the desirability of making explicit the implications of critical causal information about an unfamiliar disease for preventing the disease without stigmatizing those who have it.
    Keywords: HIV/AIDS, Disease prevention, Causality, Child development, Supplementary materials
    Date Uploaded: 06/08/2018
  10. Enterprise Strategic Portfolio Performance (ESP2) Management Model [Download]

    Title: Enterprise Strategic Portfolio Performance (ESP2) Management Model
    Author: Hussein, Moataz
    Description: Organizations achieve their strategy through projects. Organizations also embark on strategic change initiatives to fill performance gaps in their operational practices. The interaction between strategy and organizational activities is complicated. Accordingly, integrating the performance of the organizational domains with the strategy domain is a challenge. The strategic portfolio performance management approach in three large organizations was investigated to have a closer look at the performance management practices. Understanding the views of practitioners regarding the strategic portfolio performance management practices in their organizations or those of their clients was important. Therefore, a questionnaire was conducted, and 164 professionals represent different industries, and geographical locations participated. The results showed the absence of a comprehensive enterprise-wide performance management model. Moreover, organizations usually confuse between the success factors of various organizational domains. Therefore, it is not uncommon to find project management metrics used to measure strategic objectives performance. A similar confusion was observed between project performance and operation performance. Additionally, communicating the organization strategy to project and operation domains is still a challenge. More importantly, it was observed that existing portfolio performance models and practices focus on the performance of only projects, and ignore other portfolio components. Finally, organizations overlook the continuity of the strategic alignment of the projects in a portfolio, even though it was significantly relevant. Based on the findings, there is a need for an enterprise-wide strategic portfolio performance management system that looks at enterprise portfolio from a broader perspective than that of just a portfolio of projects. The findings of the field study, semi-structured interviews, questionnaire and literature review were used to develop Enterprise Strategic Portfolio Performance (ESP2) Management Model. The ESP2 model suggests structuring the organizational units into portfolios. Each portfolio encompasses three portfolio components: projects, operations, and change initiatives. The ESP2 model uses a Strategy- Portfolio Integration Matrix that fully integrate between the performance of the portfolio domains with that of the strategy domain. The integration matrix also serves as a useful dashboard that facilitates executive dictions making related to the enterprise performance management. The research contributes to improving the practices of the strategic portfolio performance management. The proposed ESP2 model serves as a basis for further enhancements and research in the field.
    Keywords: Project management, Strategic alignment, Organizational performance management, Project portfolio management
    Date Uploaded: 06/18/2018