A new mixed first-order integer-valued autoregressive process with Poisson innovations

AStA Advances in Statistical Analysis - Integer-valued time series, seen as a collection of observations measured sequentially over time, have been studied with deep notoriety in recent years, with...     

WHY DO EMERGING ECONOMIES BORROW SHORT TERM?

We argue that one reason why emerging economies borrow short term is that it is cheaper than borrowing long term. This is especially the case during crises, as during these episodes the relative cost of long‐term borrowing increases. We construct a unique database of sovereign bond prices, returns, and issuances at different maturities for 11 emerging economies from 1990 to 2009 and present a set of new stylized facts. On average, these countries pay a higher risk premium on long‐term than on short‐term bonds. During crises, the difference between the two risk premia increases and issuance shifts towards shorter maturities. To illustrate our argument, we present a simple model in which the maturity structure is the outcome of a risk‐sharing problem between an emerging economy subject to rollover crises and risk‐averse international investors.     

Differences in Life Expectancy Between Self-Employed Workers and Paid Employees when Retirement Pensioners: Evidence from Spanish Social Security Records

European Journal of Population - The aim of this paper is to examine differences in life expectancy (LE) between self-employed (SE) and paid employee (PE) workers when they become retirement...     

Poverty,Psychological Resources And Subjective Well-Being

This study was carried out for the purpose of explaining the mediating effects of a number of psychological variables (strategies for coping with stress, competitiveness, mastery, locus of control, depression and self-esteem) in the relationship between poverty and the well-being of individuals. To carry out the study, a non-probabilistic, stratified sample was used, with the participation of 918 inhabitants of Mexico City from three socioeconomic levels: extremely poor, moderately poor and not poor. A structural model was used for the analysis and treatment of data, and on the basis of that model, it was proven that there are different trajectories (mediations) through which poverty influences subjective well-being. The findings are discussed in light of the literature.     

Getting Disciplined: What’s Trans* About Queer Studies Now?

ABSTRACT

This essay maps the epistemological terrain trans* studies may face as it is widely incorporated into queer studies programs, often housed within women’s studies departments. Over the past two decades, queer studies and women’s studies have rapidly professionalized, producing new modes of disciplinary power that may seek to either include or cite trans* studies, often without fully welcoming its specific material and political investments. Under such conditions, trans* studies may find itself heard largely as a but—an epistemic blockage, a distraction from proper objects, a hindrance to customary methods—that must be disciplined.     

Efficiency in natural resource usage: A comparison of market central planning policies

The foreign trade structure of Czechoslovakia is examined to explain the intensive absorption of natural resources in centrally planned economies (CPEs). A comparison with Austria using input-output pricing models indicates that imports are the main source of this foreign trade bias. This is traced to a bias in technology and domestic preferences towards natural resource products. It is concluded that pricing in CPEs should reflect the resulting scarcities.     

Gender Differences in Criminal Sentencing: Do Effects Vary Across Violent,Property, and Drug Offenses?*

Objective. Many studies find that females benefit from their gender in sentencing decisions. Few researchers, however, address whether the gender‐sentencing association might be stronger for some crimes, such as minor nonviolent offending, and weaker for other offenses, such as serious violent crime. Method. Using a large random sample of convicted offenders in Texas drawn from a statewide project on sentencing practices mandated by the 73rd Texas Legislature, logistic regression and OLS regression analyses of likelihood of imprisonment and prison length illustrate the importance of looking at sentencing outcomes not only in terms of gender but also in terms of crime type. Results. Specifically, we find that the effect of gender on sentencing does vary by crime type, but not in a consistent or predicted fashion. For both property and drug offending, females are less likely to be sentenced to prison and also receive shorter sentences if they are sentenced to prison. For violent offending, however, females are no less likely than males to receive prison time, but for those who do, females receive substantially shorter sentences than males. Conclusions. We conclude that such variation in the gender‐sentencing association across crime type is largely due to features of Texas' legal code that channel the level of discretion available to judges depending on crime type and whether incarceration likelihood or sentence length is examined.     

The Lovász Extension of Market Games

The multilinear extension of a cooperative game was introduced by Owen in 1972. In this contribution we study the Lovász extension for cooperative games by using the marginal worth vectors and the dividends. First, we prove a formula for the marginal worth vectors with respect to compatible orderings. Next, we consider the direct market generated by a game. This model of utility function, proposed by Shapley and Shubik in 1969, is the concave biconjugate extension of the game. Then we obtain the following characterization: The utility function of a market game is the Lovász extension of the game if and only if the market game is supermodular. Finally, we present some preliminary problems about the relationship between cooperative games and combinatorial optimization.     

Price Setting With Menu Cost for Multiproduct Firms

We model the decisions of a multiproduct firm that faces a fixed “menu” cost: once it is paid, the firm can adjust the price of all its products. We characterize analytically the steady state firm's decisions in terms of the structural parameters: the variability of the flexible prices, the curvature of the profit function, the size of the menu cost, and the number of products sold. We provide expressions for the steady state frequency of adjustment, the hazard rate of price adjustments, and the size distribution of price changes, all in terms of the structural parameters. We study analytically the impulse response of aggregate prices and output to a monetary shock. The size of the output response and its duration both increase with the number of products; they more than double as the number of products goes from 1 to 10, quickly converging to the response of Taylor's staggered price model.