Public income transfers and wealth accumulation at the bottom: Within and between country differences in Canada and the United States

Both Canada and the United States are considered liberal welfare states, yet exhibit notable differences in income poverty attributed to social policy. While a more generous welfare system lifts many above income poverty, models of household financial behaviour suggest that more income from the state should displace private savings via a substitution effect. Using nationally representative wealth surveys from Canada and the US from 1998/1999 to 2016 we extend knowledge on the relationship between the welfare state and private wealth accumulation. Specifically, we study household asset poverty defined as financial asset levels that fall below three-month adjusted income poverty threshold. Asset poverty rates varied over time in the two countries and were higher in the less generous US welfare state. Further, income transfer share was positively related to asset poverty in Canada but not in the US. Counterfactual estimates offered evidence of the substitution effect in Canada, where higher levels of transfers may crowd out private asset accumulation. Results invite further consideration of the concept of asset poverty and its relationship to welfare state characteristics.     

Optimal asset allocation for participating contracts with mortality risk under minimum guarantee

Abstract

We investigate an optimal investment problem of participating insurance contracts with mortality risk under minimum guarantee. The insurer aims to maximize the expected utility of the terminal payoff. Due to its piecewise payoff structure, this optimization problem is a non-concave utility maximization problem. We adopt a concavification technique and a Lagrange dual method to solve the problem and derive the representations of the optimal wealth process and trading strategies. We also carry out some numerical analysis to show how the portfolio insurance constraint impacts the optimal terminal wealth.     

Importance sampling type estimators based on approximate marginal Markov chain Monte Carlo

We consider importance sampling (IS) type weighted estimators based on Markov chain Monte Carlo (MCMC) targeting an approximate marginal of the target distribution. In the context of Bayesian latent variable models, the MCMC typically operates on the hyperparameters, and the subsequent weighting may be based on IS or sequential Monte Carlo (SMC), but allows for multilevel techniques as well. The IS approach provides a natural alternative to delayed acceptance (DA) pseudo-marginal/particle MCMC, and has many advantages over DA, including a straightforward parallelization and additional flexibility in MCMC implementation. We detail minimal conditions which ensure strong consistency of the suggested estimators, and provide central limit theorems with expressions for asymptotic variances. We demonstrate how our method can make use of SMC in the state space models context, using Laplace approximations and time-discretized diffusions. Our experimental results are promising and show that the IS-type approach can provide substantial gains relative to an analogous DA scheme, and is often competitive even without parallelization.     

植入式教学法在大学生职业生涯规划课中的应用

大学生职业生涯规划课是一门集理论型、实践型、经验型为一体的综合性课程。在课堂教学中，通过背景知识、色彩图案、哲理案例、互动体验的植入，充实优化教学内容，增强课程吸引力，激发学生的学习兴趣。通过探索启迪学生思想、更新学习观念以及差异化职业能力培养的教学方法，满足学生的个性化职业规划学习需求。     

双波长比值法测定水杨酸、间苯二酚、对氨基苯甲酸的含量

依据水杨酸、间苯二酚、对氨基苯甲酸三组分的比值光谱特征,以对氨基苯甲酸为干扰组分,选择241nm、278nm作为测定水杨酸的波长;以水杨酸作为干扰组分,选择214nm、240nm作为测定间苯二酚的波长;以间苯二酚作为干扰组分,选择222nm、279nm作为测定对氨基苯甲酸的波长.结果显示,水杨酸浓度在1~80mg/L,基本二酚浓度在0.8~40mg/L,对氨基苯甲酸浓度在0.4~40mg/L范围内具有良好的线性关系.本方法具有测定波长少,光谱分离能力强、计算简单、能在低档分光光度计上实现、易于推广等特点.     

Understanding cultural singularities of ‘Indianness’ in an intercultural business setting

Analysing data from the Indian information technology (IT) industry, this paper advances an understanding of cultural singularities of ‘Indianness’. The research context of an intercultural meeting place of IT and business process outsourcing firms’ overseas subsidiaries, Belgium in this case, allows the authors to identify 10 cultural singularities that typify ‘Indianness’. This ethnographic, reflexive study is further validated by employing Ghoshal's ‘smell of the place’ metaphor through the authors collective experiences as consultants and researchers, and builds and extends upon the popular cultural dimension frameworks for understanding intercultural business and management. Existing cultural dimensions do not sufficiently describe the contemporary intercultural dynamics that typically take place in workplaces, especially so in offshore and outsourcing environments. A provisional set of parameters for understanding Indian culture, with its relevant impact on business life (customs and manners), business processes and business deliverables are proposed in this study.     

Heteroscedastic Global Tests that the Regression Parameters for Two or More Independent Groups are Identical

Simulation results are reported on methods that allow both within group and between group heteroscedasticity when testing the hypothesis that independent groups have identical regression parameters. The methods are based on a combination of extant techniques, but their finite-sample properties have not been studied. Included are results on the impact of removing all leverage points or just bad leverage points. The method used to identify leverage points can be important and can improve control over the Type I error probability. Results are illustrated using data from the Well Elderly II study.     

Carbon Emissions Abatement (CEA) allocation and compensation schemes based on DEA

As environment constraints on economic growth are strengthening, Carbon Emissions Abatement (CEA) allocation becomes a significant issue that draws academia׳s attention. In the literature, the Data Envelopment Analysis (DEA) technique has been applied to obtain CEA allocation with centralized models. Nevertheless, a centralized allocation plan suffers from an implementation difficulty in persuading decision-making units (DMUs) into an agreement. In this paper, we propose a new two-step method to mitigate this side effect. In the first step, we provide improved DEA-based centralized allocation models under the assumptions of constant returns-to-scale (CRS) and variable returns-to-scale (VRS) respectively and in the second step, two compensation schemes are developed for centralized allocation plans. An empirical application to the countries in Organization for Economic Co-operation and Development (OECD) is presented to elaborate the main idea.     

The relations between maternal mental state talk and preschoolers’ behavioral adaptation and school readiness: moderation by emotion situation knowledge

This study investigated the extent to which associations between mothers' elaborated talk about mental states and preschoolers’ behavioral adaptation (i.e., social competence and internalizing and externalizing behavior) and school readiness were moderated by emotion situation knowledge. Families (N = 120) were mostly middle‐income and White and 70 of the preschoolers (M = 50.65 months, SD = 6.19) were boys. Results revealed a positive association between elaborated maternal mental state talk and social competence, but only for children average and high in emotion situation knowledge. For children low in emotion situation knowledge, there was a positive association between elaborated maternal mental state talk and internalizing behavior. There also was a negative relation between elaborated maternal mental state talk and school readiness for preschoolers low in emotion situation knowledge. Findings highlight the importance of considering emotion situation knowledge when examining associations between elaborated maternal mental state talk and young children’s social behavioral adaptation and readiness for school.     

位移边界对2D-FGM板热应力影响研究

考虑不同的位移边界条件,建立了常物性2D-FGM板研究模型,并采用有限元法,得到其冷却瞬态热应力场分布图形。位移边界条件对常物性2D-FGM平面区域冷却瞬态热应力分布影响颇大,在简支和一端固定情况下,2D-FGM板自由边界上的热应力σ_x=0;两端固定情况下,其左右两边界均形成上中下三个应力聚集,应力分布形状和数值都发生了巨大的变化;将四周均设置呈固定约束后,热应力数值增长幅度较两端固定情况时更为明显。此结果为该材料的设计、制备提供了准确的理论计算依据。