Local Linear Estimation of Recurrent Jump—Diffusion Models

In this article, we provide a nonparametric estimation of first and second infinitesimal moments of the underlying jump diffusion model. We show that under certain regularity conditions the nonparametric estimations of first and second infinitesimal moments based on the local linear estimator are consistent and asymptotically follow normal distributions.     

Modeling the Factors Influencing the Evaluations of Items Through Mixture Models for Preference Datasets

In numerous situations, we use ranks dataset to exhibit preferences of a group of respondents towards a set of items. While assigning ranks, judges may consider several factors contributing to overall ranks of items. In this study, an attempt is made to model factors influencing the judges’ evaluations of items through mixture models for preference datasets. Both the probabilistic features of the mixture distribution and inferential as well as computational issues emerging out of the maximum likelihood estimation are addressed. Moreover, empirical evidences from observed dataset confirming the plausibility of the proposed model to preference dataset are provided.     

Non binary partially neighbor balanced designs for circular blocks

ABSTRACT

Neighbor designs are recommended for the cases where the performance of treatment is affected by the neighboring treatments as in biometrics and agriculture. In this paper we have constructed two new series of non binary partially neighbor balanced designs for v = 2n and v = 2n+1 number of treatments, respectively. The blocks in the design are non binary and circular but no treatment is ever a neighbor to itself. The designs proposed here are partially balanced in terms of nearest neighbors. No such series are known in the literature.     

Robust Multivariate Outlier Labeling

A criterion for robust estimation of location and covariance matrix is considered, and its application in outlier labeling is discussed. This method, unlike the methods based on MVE and MCD, is applicable to large and high-dimension data sets. The method proposed here is also robust and has the same breakdown point as the MVE- and MCD-based methods. Furthermore, the computational complexity of the proposed method is significantly smaller than that of other methods.     

Zero Lower Bound and negative interest rates: Choices for monetary policy in the UK

There have been relatively few analyses of the policy context and consequences of a Zero Lower Bound (ZLB) for nominal interest rates. This paper sets out monetary policy alternatives, including negative interest rates, a revision of the inflation target, and rendering unconventional policy instruments such as QE conventional (permanent). Following extensive discussion of policy options, we set out a model that explores the impacts of the real policy rate on economic growth, employment and inflation, with particular attention to the British economy. We use a Time-Varying Structural Vector Auto-regressive (TVSVAR) Model where the sources of time variation are both the coefficients and variance–covariance matrix of the innovations. It was found that real rates have significant implications for real growth, the labour market and price stability even when monetary policy was constrained at the ZLB in nominal terms. The study additionally applies a discrete break in the data to focus on the Post-Global Financial Crisis and ZLB period. This indicates that the effectiveness of real rates did not diminish and this has important implications in terms of a policy approach which seeks to exploit real negative rates.     

Exploring the co-movements between COVID-19 pandemic and international air traffic: A global perspective based on wavelet analysis

The travel and tourism industry was one of the fastest-growing industries before the onset of the COVID-19 pandemic. However, to avoid COVID-19 spread, the government authorities imposed strict lockdown and international border restrictions except for some emergency international flights that badly hit the travel and tourism industry. The study explores the nexus between international air departures and the COVID-19 pandemic in this strain. We use a novel wavelet coherence approach to dissect the lead and lag relationships between international flight departures and COVID-19 deaths from January 2020 to September 2020 (COVID-19 first wave period). The results reveal that international flights cause the spread of COVID-19 spread during May 2020 to June 2020 worldwide. The overall findings suggest asymmetries between daily international flight departures and COVID-19 deaths globally at different time-frequency periods due to uncertainty surrounding the COVID-19 pandemic. The study will be conducive for the policymakers to control the upsurge of COVID-19 spread worldwide.     

How community embeddedness of public sector employees is formed by organisational justice and leads to counterproductive work behaviour

Public Organization Review - This paper provides an empirical evidence based on conservation of resources theory that how organisational justice (OJ) forms the public employee’s embeddedness...     

Ignoring Leaders who Break Promises or Following God: How Depersonalization and Religious Faith Inform Employees’ Timely Work Efforts

This study investigates the relationship between employees’ perceptions of psychological contract breaches and their failure to meet work-related deadlines, with a particular focus on the mediating role of the depersonalization they assign to organizational authorities and the moderating role of their religious faith. Results based on multisource data, collected among employees and their supervisors in Pakistani organizations, show that an important factor that underpins the connection between beliefs about broken organizational promises and a diminished propensity to finish work on time is that employees depersonalize organizational leaders. This mediating effect is mitigated by employees’ religious faith. For organizations, this study thus identifies a key mechanism – exhibiting indifference to the people in charge – by which employees’ frustrations about resource-depleting contract breaches may inadvertently escalate into ineffective time management, and it identifies some workers among whom this counterproductive dynamic is less likely, namely, employees who can draw from their religious faith.     

Mainstreaming ‘gender’ and ‘integration’ needs in human development initiatives: Asian and African migrant women's integration in Europe

The current study examines the inclusion of ‘gender’ in the policies/legislation relating to the human development of women migrants (from Asian and African origins) and their impact on six determinants of migrant's gender ideology in two different European gender regimes: Germany and Sweden. The study is conducted in four stages: (1) thematic analysis of different conventions and recommendations of the UN, ILO, and EU, (2) latent analysis of selected policies/legislation, (3) survey of women migrants, and (4) expert interviews. Exposure to relatively egalitarian gender regimes through migration has brought positive changes in all determinants of the gender ideology of migrants, except domestic chores and caregiving responsibilities. Inclusion of a missing ‘gender’ perspective in relevant measures can expedite smooth integration of migrants, but lack of political commitment, scarcity of financial resources, the absence of gender experts, and lack of coordination between line ministries/agencies are salient barriers to its ‘inclusion’ in both countries.