Semiparametric Regression Estimation in Copula Models

We consider some methods of semiparametric regression estimation in multivariate models when the common distribution function is represented using a copula and the marginals satisfy a generalized regression model using a transfer functional. Sufficient conditions for consistency and joint asymptotic normality of the finite-dimensional parameters are obtained.     

Is tolerance to shiftwork predictable from individual difference measures?

Abstract

This study was aimed at evaluating the most important relations between individual characteristics of shiftworkers and their subjective health complaints, obtained by cross-sectional and longitudinal procedures. A total of 604 shiftworkers and 185 young subjects who were going to enter shiftwork were examined by means of individual difference and subjective health questionnaires. The questionnaires were administered concurrently to the group of workers already involved in shiftwork. In the other group studied, the questionnaires were administered before they entered shiftwork, and subjective health was re-examined after the first and third year of work on shifts. More health complaints were reported by the group of older workers and those with longer shiftwork experience, with higher scores of neuroticism, hard-driving and competitiveness, speed and impatience, and rigidity of sleeping habits, and lower scores on relaxedness, efficiency and vigorousness. However, the correlations between these dimensions, when taken before entering shiftwork, and subjective health complaints obtained after a few years working on shifts were small or absent, indicating low validity of the individual difference measures for predicting subsequent health problems in shiftworkers.     

Monetary transmission: Are emerging market and low-income countries different?

We use the Christensen, Diebold, and Rudebusch (2011) representation of the yield curve to test the functioning of the interest rate transmission mechanism along the yield curve based on government paper in advanced, emerging market, and low-income countries. We find a robust link from the policy and short-term interbank rates to the longer-term bond yields in all countries. Two policy implications emerge. First, the presence of well-developed secondary markets does not seem to affect transmission of short term rates along the yield curve. Second, the strength of the transmission mechanism seems to be affected by the choice of the monetary regime and the level of development: advanced countries with a credible inflation targeting regime seem to have better-behaved yield curves than the countries with other monetary regimes.     

Montée en qualification et modification de la répartition au sein de la chaîne de valeur mondiale du secteur de l’électronique

Le secteur de l’électronique repose sur une chaîne de production mondiale particulièrement complexe. Les auteurs s'appuient sur des données de la base WIOD pour la période 2000–2014 afin d'apprécier la contribution des pays à cette chaîne de valeur. Ils examinent notamment l'incidence de la crise financière mondiale de 2007–2008 sur son évolution et établissent une cartographie des interactions internationales. L’étude révèle une augmentation des délocalisations depuis la crise financière, la Chine et d'autres pays d'Asie de l'Est étant devenus les principaux pôles de création de valeur. Elle montre aussi que les technologies de production ont connu une transformation radicale, accompagnée d'une montée en qualification.     

Peer Pressure

We present a model where agents care about their neighbors' actions and can pressure them to take certain actions. Exerting pressure is costly for the exerting agent and it can impact the pressured agents by either lowering the cost of taking the action (which we call “positive pressure”) or else by raising the cost of not taking the action (which we call “negative pressure”). We show that when actions are strategic complements, agents with lower costs for taking an action pressure agents with higher costs, and that positive pressure can improve societal welfare. More generally, we detail who gains and who loses from peer pressure, and identify some circumstances under which pressure results in fully (Pareto) optimal outcomes as well as circumstances where it does not. We also point out differences between positive and negative pressure. (JEL: Z13, D62, C72, D85)     

Does satisfaction matter? A microeconomic empirical analysis of the effect of social relations on economic welfare

The paper studies the effect of social relations on individual economic welfare by explicitly considering the qualitative aspect of relations that characterize the social structure of personal contacts. It argues that important information is lost if only the density of the social network is considered. This proposition is tested using microdata representative of the entire Italian population. Two proxies for interpersonal relations at an individual level are considered: the number of voluntary associations joined and the satisfaction gained from relationships with friends. Both seem to have a positive effect on two indices of household economic welfare: a subjective index and an objective one. The subjective index is based on both the subjects’ personal assessment of their household general economic situation and financial difficulties in meeting certain expenditures. The objective index is calculated from objective data on the household's economic situation. The empirical results prove robust on considering a variety of control variables and using different econometric methods.     

From the Selimović Case to the Srebrenica Commission: The Fight to Recognize the Srebrenica Genocide

Abstract

The Srebrenica Commission was formed by the Republika Srpska government to investigate the events that occurred in and around Srebrenica in July 1995. The Commission was formed by a decision of the Human Rights Chamber (HRC) of Bosnia and Herzegovina. In its report, the Commission consisting of mainly Serb officials concluded that crimes were committed in Srebrenica, citing the Krsti? Case at International Court of the Former Yugoslavia. It also provided locations of mass graves where the Bosnian Serb Army hid remains of victims from Srebrenica. The paper aims to research the Selimovi? et al. case at the HRC and its implications, including clarifying how truthful and correct was the Commission on locations of mass graves.