Variable selection in quantile regression via Gibbs sampling

Due to computational challenges and non-availability of conjugate prior distributions, Bayesian variable selection in quantile regression models is often a difficult task. In this paper, we address these two issues for quantile regression models. In particular, we develop an informative stochastic search variable selection (ISSVS) for quantile regression models that introduces an informative prior distribution. We adopt prior structures which incorporate historical data into the current data by quantifying them with a suitable prior distribution on the model parameters. This allows ISSVS to search more efficiently in the model space and choose the more likely models. In addition, a Gibbs sampler is derived to facilitate the computation of the posterior probabilities. A major advantage of ISSVS is that it avoids instability in the posterior estimates for the Gibbs sampler as well as convergence problems that may arise from choosing vague priors. Finally, the proposed methods are illustrated with both simulation and real data.     

Building Financial Knowledge Is Not Enough: Financial Self-Efficacy as a Mediator in the Financial Capability of Low-Income Families

ABSTRACT

Policymakers in many countries have taken an interest in population-level financial capability. Limited empirical work has examined how constructs that makeup financial capability relate and how they function for individuals with low incomes. Using a national sample of low-income Canadians, we investigate relationships between financial knowledge, financial self-efficacy, and savings outcomes. Overall, we find that financial self-efficacy fully mediated the relationship between objective financial knowledge and postsecondary-education saving. The association between objective financial knowledge and retirement saving and emergency saving passed through financial self-efficacy. Efforts to promote financial capability need to focus on more than objective financial knowledge.     

New Styles of Community Building and Philanthropy by Arab-American Muslims

Among Arab-American Muslims, secular ethnic and humanitarian giving, focused on ‘results’ and ‘measurable impact,’ is displacing religiously inspired giving, that is driven by ‘charity’ and ‘love of mankind.’ This trend is supported by evidence of the way donors position themselves and philanthropic organizations appeal to their donor base. The case is supported by qualitative data drawn from interviews with key informants and from trend data on giving. I propose a new model of giving based on identity and giving, using Grounded Theory methods. This model challenges our understanding about the connection between community and philanthropy and proposes that philanthropy can create ‘community.’     

Wald's approximations to the average run length in cusum procedures

Wald's approximation to the ARL(average run length in cusum) (cumulative sum) procedures are given for an exponential family of densities. From these approximations it is shown that Page's (1954) cusum procedure is (in a sense) identical with a cusum procedure defined in terms of likelihood ratios. Moreover, these approximations are improved by estimating the excess over the boundary and their closeness is examined by numerical comparisons with some exact results. Some examples are also given.     

Sri Lanka: current status of family planning

In Sri Lanka the family planning program is closely related to socioeconomic and cultural variables. The expectation is that in the near future family planning will be included as a component of a network of social services. The official program is a response to the economic necessities and welfare demands of individuals and families. The method of family planning most frequently requested is female sterilization, and no attempts are being made to direct people to other methods. 12 United Nations Fund for Population Activities assisted projects have provided the framework and basis for the institutional coverage of family planning activities in Sri Lanka. However, the experience of these projects revealed a lack of facilities, shortage of personnel and management inadequacies, all related to the delivery of family planning services. The following steps are suggested as a means of overcoming the current problems and expanding the program: 1) establish a pattern of interacting relationship between the mass media, community health education and the available services; 2) provide an operational approach to program management, monitoring and periodic reviews of the program; 3) involve the private sector health facilities; and 4) incur additional capital cost to increase the capacity for delivery of better health facilities and personnel.     

The Impact of Transformational Leadership on Organizational Citizenship Behaviours: The Contingent Role of Public Service Motivation

In this paper we examine whether the relationship between transformational leadership and organizational citizenship behaviours (OCBs) is contingent on public service motivation (PSM). We propose that PSM may reduce the motivational influences of transformational leaders’ behaviours on followers’ OCBs in public sector organizations. Using a sample of Mexican employees we tested this proposition with structural equation modelling. Our results show that the motivational effects of transformational leadership were less for public sector followers higher in PSM than for those lower in PSM. A follow‐up study in private sector organizations did not reveal a similar interaction effect. These findings appear consistent with previous research demonstrating that PSM is more aligned to the goals and values of public rather than private sector organizations. Nevertheless, the direct effects of PSM on OCBs remained in the private sector.