Cross-sectional correlation robust tests for panel cointegration

We use meta-analytic procedures to develop new tests for panel cointegration, combining p-values from time-series cointegration tests on the units of the panel. The tests are robust to heterogeneity and cross-sectional dependence between the panel units. To achieve the latter, we employ a sieve bootstrap procedure with joint resampling of the units’ residuals. A simulation study shows that the tests can have substantially smaller size distortion than tests ignoring the presence of cross-sectional dependence while preserving high power. We apply the tests to a panel of post-Bretton Woods data to test for weak purchasing power parity.     

Life at Age 100: An International Research Agenda for Centenarian Studies

ABSTRACT

Living a long life is desired by many individuals, and this dream is likely to become reality in more and more industrialized societies. During the past 3 decades, the number of very old individuals has increased significantly, creating a global demographic challenge with consequences at the individual, family, and societal levels. Yet, life in very old age is still poorly understood in terms of its unique characteristics and challenges. Besides specific content areas, very old age represents an understudied field of research. This lack of knowledge may be one reason that the very old also are an underserved population. This special issue introduces an international network of three centenarian studies that describe and compare the life circumstances and characteristics of centenarians across Germany, Portugal, and the United States. Our parallel studies comprehensively assess centenarians’ physical, cognitive, social, and psychological functioning to create a knowledge base regarding their capacities and needs. A specific focus lies in the investigation of psychological aspects, social resources, and societal/cultural contexts, factors that may contribute to longevity and successful aging. Determining key characteristics of this very old population and investigating similarities and differences across countries is timely and urgent, both from an applied and a policy standpoint.     

Rule learning transfer across linguistic and visual modalities in 7-month-old infants

Rule learning (RL) refers to infants’ ability to extract high-order, repetition-based rules from a sequence of elements and to generalize them to new items. RL has been demonstrated in both the auditory and the visual modality, but no studies have investigated infants’ transfer of learning across these two modalities, a process that is fundamental for the development of many complex cognitive skills. Using a visual habituation procedure within a cross-modal RL task, we tested 7-month-old infants’ transfer of learning both from speech to vision (auditory-visual—AV—condition) and from vision to speech (visual-auditory—VA—condition). Results showed a transfer of learning in the AV condition, but only for those infants who were able to efficiently extract the rule during the learning (habituation) phase. In contrast, in the VA condition infants provided no evidence of RL. Overall, this study indicates that 7-month-old infants can transfers high-order rules across modalities with an advantage for transferring from speech to vision, and that this ability is constrained by infants’ individual differences in the way they process the to-be-learned rules.     

Democratic Participation in Voluntary Associations: A Multilevel Analysis of Sports Clubs in Europe

VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations - Non-profit associations are usually democratically organized, and this feature plays a legitimizing role for the public...     

The Correlates of Self-Assessed Community Belonging in Canada: Social Capital,Neighbourhood Characteristics,and Rootedness

This study examines the extent to which a single-item question on sense of community belonging captures the multi-dimensionality of the underlying concept. Many studies use multi-item scales to measure the different dimensions of this concept, but including extensive questions on community belonging in large surveys is often impractical given constraints on survey lengths and budgets. Having an economical and robust measure provides considerable scope for future studies to consider the effects of community belonging without reliance on multi-item scales. Drawing on several large, nationally representative Canadian surveys, the study shows that self-assessed community belonging is a parsimonious measure of a broad range of factors that pertain to local social relations, neighbourhood characteristics, and place attachment. Social capital yields the strongest correlations, and also plays an important mediating role vis-à-vis other variables. However, neighbourhood characteristics (e.g., perceptions of area crime, the built environment) and “rootedness” (e.g., duration of residence in an area) are also significantly correlated with sense of community belonging, independent of individuals’ strength of social capital.     

Repartnering After Union Dissolution in Later Life

The authors estimated the timing of repartnering among individuals who had experienced a union dissolution at age 45 or older, treating cohabitation and marriage as competing risks. The analysis used retrospective data from the 2007 Canadian General Social Survey and life table analysis and Cox models to examine patterns of repartnering. The study offered three major conclusions. First, age constraints on repartnering are large when union dissolution occurs in midlife or later. This age constraint is particularly strong for women and contributes to a wide gender gap in repartnering. Second, in contrast to repartnering at earlier life stages, cohabitation is not the predominant choice of repartnering for those experiencing union dissolution at age 45 and older. Third, union exit status (divorce, cohabitation separation, and widowhood) is a key repartnering differential. The most disadvantageous routes to repartnering are through the experience of cohabitation separation and widowhood.     

Charakterisierungen der exponential-und der geometrischen verteilung

A charecterization of the exponential distribution and of the geometrical distribution by means of independence of min (X, Y), max (0, X - Y) is given.     

Managerial Risk‐taking in International Acquisitions in the Brewery Industry: Institutional and Ownership Influences Compared

This paper deals with the role that institutional differences play in managerial risk‐taking when firms engage in international acquisitions. It is assumed that multinational corporations (MNCs) have different interests and capabilities when dealing with international acquisition, which in the authors’ view are significantly shaped by specific home country institutional influences. This study concerns the question of how different forms of ownership – concentrated (e.g. family and bank based) and dispersed (stock market based) – influence risk‐taking and managerial decision‐making in large international acquisitions. Comparing a total of 12 large acquisitions of four leading MNCs in the global brewery industry, the paper shows that mutually reinforcing influences of country of origin (coordinated vs liberal market economies) and ownership (family ownership vs stock market ownership) lead to different risk profiles and managerial risk‐taking with regard to international acquisitions.