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We are all familiar with the disclaimer that follows the advertising of financial instruments, "Past performance does not guarantee future results".
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Moreover, once endogeneity is controlled for by means of valid instruments (the past density of foreign restaurants per municipality, and the past presence of migrant communities in the municipality), the negative and statistically significant impact of the share of foreign workers on the firm's innovativeness is confirmed and even larger.
Data from hyperspectral imaging instruments on past and present governmental missions, such as Envisat and Aqua, has been used for this purpose.
Significance levels: *significant at 10%; **significant at 5%; ***significant at 1%. (1) OLS with fixed effects; (2) FGLS with AR1 correction; and (3) 2SLS using as instruments the past values of the endogenous policy variables: training, policy cluster and continuity in implementation.
Even though prescribing preference has been shown to be a strong instrument in past studies [ 15, 41], we tested the strength of CPP as an instrument statistically using the partial F test statistic and Shea partial correlation coefficient r2 [ 42].
The instrument's past is warmly conjured up with musical quotations, particularly from Bach, and its present is celebrated with dedications to six contemporary fiddlers.
To deal with (3) autocorrelation, the first differenced dependent variable is also instrumented by past observations.
Recent studies have demonstrated that the 32-item Hypomania Checklist (HCL-32) developed by Jules Angst is a good screening instrument for past hypomanic episodes [ 12- 15].
As a woman left with a bag of fresh produce, a bass player wheeled in his oversize instrument, past fragrant mulch beds and potted shrubs, to join other musicians setting up in a greenhouse.
There is no question, said Ilya Temkin, that "musical instruments remember their past".
Previews start on Saturday for Swann's sale next Thursday, featuring 400 writing instruments representing the past century's experiments.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com