On the estimation of non linear functions in stochastic volatility models

Abstract

This paper focuses on the inference of suitable generally non linear functions in stochastic volatility models. In this context, in order to estimate the variance of the proposed estimators, a moving block bootstrap (MBB) approach is suggested and discussed. Under mild assumptions, we show that the MBB procedure is weakly consistent. Moreover, a methodology to choose the optimal length block in the MBB is proposed. Some examples and simulations on the model are also made to show the performance of the proposed procedure.     

Missing data and forecasting in multivariate time series: An application of the common components dynamic linear model

Summary The paper deals with missing data and forecasting problems in multivariate time series making use of the Common Components Dynamic Linear Model (DLMCC), presented in Quintana (1985), and West and Harrison (1989). Some results are presented and discussed: exploiting the correlation between series, estimated by the DLMCC, the paper shows as it is possible to update state vector posterior distributions for the unobserved series. This is realized on the base of the updating of the observed series state vectors, for which the usual Kalman filter equations can be applied. An application concerning some Italian private consumption series provides an example of the model capabilities.     

Values and Vegetarianism: An Exploratory Analysis1

The American diet has changed substantially over the last few decades. These changes provide a test for social theory and have substantial effects on the demand for various food products, thus impacting U.S. agriculture. In this paper a rapidly growing dietary choice—vegetarianism—is explored. Prevalence of various forms of vegetarianism is estimated in a representative sample of a suburban population and factors that influence choice of a vegetarian diet are examined. About 7 percent of the sample report they are vegetarians. The prevalence of vegetarianism is not influenced by age, gender, or education, but individuals holding traditional values are less likely to be vegetarian than others. There also is some evidence mat individuals holding altruistic values are more likely than others to be vegetarians.     

Altruism and Market-Like Behavior: An Analysis of Willingness to Pay for Recycled Paper Products

The contrast between self-interested behavior guided by rational choice and altruistic behavior guided by normative considerations is a central theme in the social sciences. This study suggests that market and market-like behavior, the context where self-interest is expected to dominate, is in fact often motivated by altruism. This argument is tested by examining a willingness to pay measure, a surrogate for the market that is finding substantial use in analyses of public policy. In particular, the ability of the Schwartz model of altruism to explain willingness to pay for recycled products is examined. Findings indicate that even as the Schwartz model has explained many purely altruistic behaviors, it also can explain self-reported willingness to pay. While economists often have noted the importance of rational choice in even the most intimate of human decisions, this study notes the importance of normative altruism in even the most calculated.     

Does board gender diversity affect firm risk-taking? Evidence from the French stock market

Journal of Management and Governance - Drawing from a sample of French companies that made up the SBF 120 index over the period 2006–2010 (before the enactment of the...     

Locus of control,altruism and agentic disposition

This study presents and empirically tests a simple model of attitudinal and personality influences on individual willingness to take action in support of the environment (agentic disposition) in a sample of 367 residents of Fairfax County in Virginia. The model, comprised of items from Schwartz's theory of norm activated altruism and an abridged version of Levenson's three-dimensional conception of locus of control, fits the data well. Results of the study indicate that 1) locus of control is best viewed as multidimensional rather than previous unidimensional conceptualizations, 2) each of the Levenson locus of control dimensions plays a unique role in the model of environmental agentic disposition, and 3) agentic disposition can be conceptualized as a type of norm activated altruism. The role of agentic disposition in legitimating the positions taken by social movement organizations is discussed.     

Away from Dissatisfaction,Closer to Well-Being: A Multidimensional Synthetic Measure

As part of the international debate on methods for measuring the social progress of a population, there has been increasing interest in individual subjective opinions about different aspects of quality of life (elementary indicators). In the literature, many methods have been introduced for producing measures of subjective well-being based on these opinions. Some of these methods aim to construct synthetic measures that allow us to consider all the aspects simultaneously. This topic often requires subjective methodological choices and/or distributional assumptions and, when the opinions are encoded by means of categorical ordinal values, the eventual quantification of the original variables. Here, starting from the Istat multipurpose survey on households’—aspects of daily life, we propose an original method for constructing a global satisfaction index. We introduce a variable based on the joint distribution of all the elementary indicators that is able to express the individual degree of global satisfaction. This approach allows us to maintain the original ordinal data scale and to avoid any aggregation formula. By comparing the observed distribution of the new variable and the theoretical one, which refers to the situation of overall dissatisfaction (all individuals are dissatisfied for every aspect), we propose three indices of global satisfaction. We also implemented two simulation studies that confirms both the efficacy and robustness of our method. We then applied it to measure the global satisfaction degree of the Italian population, using Istat multipurpose survey data for the year 2013.     

Maternal singing of lullabies during pregnancy and after birth: Effects on mother–infant bonding and on newborns’ behaviour. Concurrent Cohort Study

Background

Mother–infant bonding is of great importance for the development and the well-being of the baby. The aim of this Concurrent Cohort Study was to investigate the effects of mothers singing lullabies on bonding, newborns’ behaviour and maternal stress.

Adolescent Psychological Well‐being,Radicalism, and Activism: The Mediating Role of Social Disconnectedness and the Illegitimacy of the Authorities

The identification of factors that counter youth’s radicalization while promoting democratic activism is a timely social issue. This paper examines the association of psychological well‐being (PWB) with violent radicalism and nonviolent activism, by focusing on the mediating role of both social disconnectedness (SD) and the perceived illegitimacy of the authorities (PIoA). Two mediation structural equation models (full vs. partial) were applied to data collected from 328 Italian adolescents (14–19 years). The results showed how SD and PIoA fully mediated the link of PWB with radicalism (negatively) and activism (positively). This model was further supported when compared with an alternative one proposing PWB as a mediator between SD and PIoA. The findings are discussed in light of the existing literature and provide potential implications for practice.