Beyond control? The mechanics and dynamics of ‘informal’ remittances between Europe and Africa

Abstract Policy making usually assumes that the best way to harness migrant remittances for development is by shifting them into the regulated money transfer sector. However, much research evidence concludes that alternative methods are often cheaper and more reliable, accessible and convenient. In this article, we explore this tension between policy objectives and evidence. Based on a review of remittance mechanisms in seven sub‐Saharan African countries, we question the validity of the distinction between ‘formal’ and ‘informal’ remittances. We conclude that the formalization of remittance systems should not be approached as a regulatory task carried out from the top down, but as a bottom‐up evolutionary and organic process that should be encouraged. We suggest that the current regulatory thrust in this area is likely to be counterproductive, since it risks undermining the many vibrant institutions emerging through the movement of migrants and their money, together with their potential to enhance much needed economic and social development.     

Parametric Estimation for Subordinators and Induced OU Processes

Abstract.  Consider a stationary sequence of random variables with infinitely divisible marginal law, characterized by its Lévy density. We analyse the behaviour of a so-called cumulant M-estimator, in case this Lévy density is characterized by a Euclidean (finite dimensional) parameter. Under mild conditions, we prove consistency and asymptotic normality of the estimator. The estimator is considered in the situation where the data are increments of a subordinator as well as the situation where the data consist of a discretely sampled Ornstein–Uhlenbeck (OU) process induced by the subordinator. We illustrate our results for the Gamma-process and the Inverse-Gaussian OU process. For these processes we also explain how the estimator can be computed numerically.     

SOCIAL DYNAMICS OF OBESITY

We explain the recent increases in obesity in the United States with a model involving falling food prices, endogenous social body weight norms, and heterogeneous human metabolism. Calibrating an analytical choice model to American women in the 30- to 60-yr-old age bracket, we compare the predicted weight distributions to National Health and Nutrition Examination survey data spanning (intermittently) the years 1976–2000. The model, the first to describe explicitly complete weight distribution dynamics for this group, predicts average weights and obesity rates with considerable accuracy and captures a significant portion of the recent growth in upper quantile weights. ( JEL D11, I12, Z13)     

World City Networks and Global Commodity Chains: towards a world-systems' integration

There are two literatures that explicitly describe the spaces of flows that constitute contemporary globalization – World City Network analysis and Global Commodity Chain analysis. We explore the possibilities of their integration by returning to their common origins in world-systems analysis. Each model is described and critiqued and it is argued that each can be used to address some of the other's limitations. This is illustrated through world city process additions to understanding the coffee commodity chain and commodity chain additions to understanding Mexico City and Santiago's positioning in the World City Network. This complementarity is just a first step towards a more complete integration; the conclusion describes the next steps towards just such a research agenda.     

The promise and perils of using big data in the study of corporate networks: problems,diagnostics and fixes

Network data on connections between corporate actors and entities – for instance through co‐ownership ties or elite social networks – are increasingly available to researchers interested in probing the many important questions related to the study of modern capitalism. Given the analytical challenges associated with the nature of the subject matter, variable data quality and other problems associated with currently available data on this scale, we discuss the promise and perils of using big corporate network data (BCND). We propose a standard procedure for helping researchers deal with BCND problems. While acknowledging that different research questions require different approaches to data quality, we offer a schematic platform that researchers can follow to make informed and intelligent decisions about BCND issues and address these through a specific work‐flow procedure. For each step in this procedure, we provide a set of best practices for how to identify, resolve and minimize the BCND problems that arise.