Investigating the US consumer credit determinants using linear and non-linear cointegration techniques

2014 ◽  
Vol 42 ◽  
pp. 20-28 ◽  
Author(s):  
Antonio Paradiso ◽  
Saten Kumar ◽  
Marcella Lucchetta
Keyword(s):  
The Us ◽  
Blood ◽  
2015 ◽  
Vol 126 (23) ◽  
pp. 266-266
Author(s):  
Ronald S. Go ◽  
Mohammed Al-Hamadani ◽  
Cynthia S Crowson ◽  
Nilay D Shah ◽  
Elizabeth B Habermann

Abstract Background: Non-Hodgkin lymphoma (NHL) is a relatively uncommon cancer with annual incidence of ~70,000 cases but with over 50 distinct subtypes. The goal of this study was to determine the extent to which the number of NHL patients treated annually in a facility (facility volume) affects overall survival (OS). This study used the National Cancer Data Base (NCDB), a nationwide oncology database covering 70% of the US cancer population, to address this question. Methods: We used the NCDB to identify patients with NHL diagnosed from 1998 to 2006. Year 2006 was used as a cut-off in order to allow a minimum of five years of follow-up for all patients. Only patients treated at facilities with continuous annual reporting to NCDB were included. We classified treatment facilities by quartiles based on facility volume (mean patients/year): Quartile 1 (Q1: 2-13), Quartile 2 (Q2: 14-20), Quartile 3 (Q3: 21-32) and Quartile 4 (Q4: ≥33). We used Pearson correlation methods to examine collinearity, unadjusted Kaplan-Meier methods to estimate OS rates, log rank test to compare survival distributions, and multivariable Cox proportional hazards model to examine the associations between hospital volume and OS adjusting for other covariates of interest. We also included random effects for hospital to more fully adjust for clustering of outcomes within hospitals. To examine non-linear effects of hospital volume, we utilized smoothing splines. Results: There were 278,985 NHL patients cared for at 1,151 facilities. The distribution of patients according to facility volume was Q1 (10.7%), Q2 (13.5%), Q3 (23.3%) and Q4 (52.5%) and according to facility type was academic (31.2%), comprehensive community (55.9%), community (10.6%) and other (2.3%) centers. The unadjusted median OS by facility volume was: Q1: 61.8 months, Q2: 65.9 months, Q3: 71.4 months and Q4: 83.6 months. After multivariable analysis adjusting for demographic (sex, age, race, ethnicity), socioeconomic (income, insurance type), geographic (area of residence), disease-specific (NHL subtype, stage) and facility-specific (type and location) factors, we show that facility volume remains an independent predictor of all-cause mortality. Compared to patients treated at Q4 facilities, patients treated at lower quartile facilities had a worse OS (Q3HR: 1.05 [95% CI, 1.04-1.06]; Q2HR: 1.08 [1.07-1.10]; Q1HR: 1.14 [1.11-1.17]). We adjusted for hospital as a random effect, performed sensitivity analyses removing primary payor and facility type (due to collinearity with age and facility volume, respectively), and adjusted for Charlson-Deyo co-morbidity score (available only for patients diagnosed after 2003) in secondary models and found similar results. Using smoothing splines, we found a significant non-linear effect of hospital volume on OS (P <0.001). This is depicted in the Figure wherein the hazard ratio of 1.0 corresponded to the average predicted hazard, which occurred at a hospital volume of 59 patients per year. Conclusions: Patients who were treated for NHL at higher volume facilities had longer OS than those who were treated at facilities with a lower volume. This is the first study in the US using a national sample to show that a volume-outcome relationship exists in the medical management of cancer. Figure 1. Figure 1. Disclosures No relevant conflicts of interest to declare.


1992 ◽  
Vol 22 (1) ◽  
pp. 90-109 ◽  
Author(s):  
William M. Makuch ◽  
Jeffrey L. Dodge ◽  
Joseph G. Ecker ◽  
Donna C. Granfors ◽  
Gerald J. Hahn

2017 ◽  
Vol 14 (3) ◽  
pp. 173-188
Author(s):  
Hao Fang ◽  
Yen-Hsien Lee ◽  
Jen-Sin Lee ◽  
Wei-Jui Chen

This study first uses the non-linear co-integration with structural breaks by Gregory and Hansen (1996) to examine whether non-linear co-integration exists between real estate investment trusts (REITs) and corresponding stock markets in the United States and Australia. Second, we employ the smooth transition vector-error correction model (STVECM) including the generalized autoregressive conditional heteroskedasticity (GARCH) model to separately explore the adjustment efficiencies of non-linear short-run REIT and corresponding stock return dynamics, as well as respective REIT return dynamics when the long-run disequilibrium occurs. The results show that a structural break co-integration exists between the equity and mortgage REITs and stock markets in the US, between the REITs and stock markets in the Australia and between the REIT markets in both the US and Australia. When there are large positive and negative deviations of STVECM, the adjustment speed of reverting to equilibrium of the S&P 500 index is greater than that of the Mortgage REIT index. However, when there are large positive (negative) deviations of STVECM, the adjustment speed of reverting to equilibrium of the Australian REIT (stock) index is greater, and that of the Australian REIT (US REIT) index is greater. In addition, by using a non-linear Granger causality test by Hiemstra and Jones (1994), we find that credit price effects exist between the US for each type of REIT and stock markets regardless of large positive or negative deviations (or returns) in STVECM (or STVAR). However, there is a feedback effect exists between the REITs and the stock markets in Australia.


1987 ◽  
Vol 19 (12) ◽  
pp. 187-193 ◽  
Author(s):  
E. Joe Middlebrooks

Facultative pond performance data collected for the US Environmental Protection Agency (USEPA) at four locations throughout the USA and data collected by others were used to evaluate the most frequently used design equations and to develop non-linear design equations. Empirical models were evaluated as well as the classical plug flow and complete mix models. The first order plug flow model gave the best fit of all the rational models. The empirical non-linear models did not fit the data, nor did the other empirical models with the exception being the areal loading and removal model. Attempts to verify the models developed with the USEPA data using data collected by others were not successful with the exception of the areal loading and removal model.


2008 ◽  
Vol 15 (3) ◽  
pp. 455-467 ◽  
Author(s):  
Lukas Menkhoff ◽  
Rafael R. Rebitzky

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