Institutional Shifts In Inter-Municipal Service Delivery

Comparative research on inter-municipal cooperation in eight European countries shows that there is a great variety of institutional arrangements for cooperation across the different countries. Also, these arrangements tend to change over time in terms of the scope of cooperation among partners, their composition and the degree of organizational integration. This article describes and analyzes the variety of and shifts in institutional arrangements for a specific class of inter-municipal cooperation arrangements: those that are set up to provide for the joint delivery of public services. It is argued that specific arrangements are typically the outcomes of interaction between national institutional contexts, environmental factors and local preferences.     

Inference on Filtered and Smoothed Probabilities in Markov-Switching Autoregressive Models

ABSTRACT

We derive a statistical theory that provides useful asymptotic approximations to the distributions of the single inferences of filtered and smoothed probabilities, derived from time series characterized by Markov-switching dynamics. We show that the uncertainty in these probabilities diminishes when the states are separated, the variance of the shocks is low, and the time series or the regimes are persistent. As empirical illustrations of our approach, we analyze the U.S. GDP growth rates and the U.S. real interest rates. For both models, we illustrate the usefulness of the confidence intervals when identifying the business cycle phases and the interest rate regimes.     

Bayesian monitoring of local residual autocorrelations taking into account the run-length

This paper proposes new two-sided monitoring algorithms for detecting the presence of first order residual autocorrelations in Dynamic Normal Models. The methodology uses a Bayesian decision approach with loss function which takes into account the run-length of the process. The power and mean run-length of the proposed algorithms are analysed by Monte Carlo methods. The results obtained improve those corresponding to the monitoring algorithm for residual autocorrelations proposed in Gargallo and Salvador [2003. Monitoring residual autocorrelations in dynamic linear models. Comm. Statist. Simulation Comput. 32(4), 1079–1104.] with respect to the run-length, and also exhibit more homogeneous behaviour.     

The minimal overlap rule revisited

This paper provides an analysis of the Minimal Overlap Rule, a solution for bankruptcy problems introduced by O’Neill (1982). We point out that this rule can be understood as a composition of Ibn Ezra’s proposal and the recommendation given by the Constrained Equal Loss Rule. Following an interpretation of bankruptcy problems in terms of TU games, we show that the Minimal Overlap Value is the unique solution for bankruptcy games which satisfies Anonymity and Core Transition Responsiveness.     

A multivariate version of Gini's rank association coefficient

In this paper, we introduce a multivariate generalization of the population version of Gini's rank association coefficient, giving a response to this open question posed in [4]. We also study some properties of this version, present the corresponding results for the sample statistic, and provide several examples.     

Influence diagnostics in the capital asset pricing model under elliptical distributions

In this paper we consider the Capital Asset Pricing Model under Elliptical (symmetric) Distributions. This class of distributions, which contains the normal distribution, t, contaminated normal and power exponential, among others, offers a more flexible framework for modelling asset prices or returns. In order to analyze the sensibility to possible outliers and/or atypical returns of the maximum likelihood estimators, the local influence method was implemented. The results are illustrated by using a set of shares from companies who trade in the Chilean Stock Market. Our main conclusion is that symmetric distributions having heavier tails than those of the normal distribution, especially the t distribution with small degrees of freedom, show a better fit and allow the reduction of the influence of atypical returns in the maximum likelihood estimators.     

Educational responses to immigrant students in Madrid

During the last few years, changes in the Spanish educational system have had a far reaching impact. Several factors have been critical: (1) the progressive decentralization of education by the government, now a responsibility of regional governments; (2) the extension of compulsory education to the age of 16; and finally (3) the increase in the number of immigrant students, which has significantly added to the existing cultural diversity. The enrolment of immigrant students in Spanish schools is a relatively recent phenomenon (starting 15 years ago) when compared with other European countries. Madrid is the region in Spain with the largest number of students. As most of these students were born outside of Spain, we cannot yet speak of a second generation. The research described here investigated how the educational system in Madrid confronted the challenge of an increasing number of immigrant students. The institutional response was the Madrid Regional Government’s Compensatory Education Regional Plan. This encompasses several measures, which are described here. After a critical analysis of educational policies pertaining to immigrant pupils, the paper suggests ways of overcoming a purely compensatory approach. Intercultural education plays a key role is such considerations.