Estimation and Inference for Linear Panel Data Models Under Misspecification When Both n and T are Large

This article considers fixed effects (FE) estimation for linear panel data models under possible model misspecification when both the number of individuals, n, and the number of time periods, T, are large. We first clarify the probability limit of the FE estimator and argue that this probability limit can be regarded as a pseudo-true parameter. We then establish the asymptotic distributional properties of the FE estimator around the pseudo-true parameter when n and T jointly go to infinity. Notably, we show that the FE estimator suffers from the incidental parameters bias of which the top order is O(T^{? 1}), and even after the incidental parameters bias is completely removed, the rate of convergence of the FE estimator depends on the degree of model misspecification and is either (nT)^{? 1/2} or n^{? 1/2}. Second, we establish asymptotically valid inference on the (pseudo-true) parameter. Specifically, we derive the asymptotic properties of the clustered covariance matrix (CCM) estimator and the cross-section bootstrap, and show that they are robust to model misspecification. This establishes a rigorous theoretical ground for the use of the CCM estimator and the cross-section bootstrap when model misspecification and the incidental parameters bias (in the coefficient estimate) are present. We conduct Monte Carlo simulations to evaluate the finite sample performance of the estimators and inference methods, together with a simple application to the unemployment dynamics in the U.S.     

Does transformational leadership predict group emotional intelligence in work settings? / ¿Es el liderazgo transformacional un predictor de la inteligencia emocional grupal en los contextos laborales?

Contagion of emotions is a widely accepted characteristic of transformational leaders. However, the impact they may have on the Emotional Intelligence of their subordinates is an open question. In this paper, we analyse whether Transformational Leadership (LTF) perceptions influence the Emotional Intelligence of their groups (GEI). This is a novel approach within the actual interest on emotional intelligence and its role in group results. The participants were 272 subordinates from 52 groups that belonged to different private and public organizations in Spain. They completed a questionnaire including the variables of interest. Our study helps to clarify the relations between TFL perceptions and GEI, showing that TFL and GEI relate at the group level and that TFL is one of the predictors of the perception of GEI in work settings. Thus, the development of emotionally competent transformational leaders will produce emotionally competent groups that might increase their performance, efficiency and other processes (i.e., engagement).     

`Sex-Equal' Stable Matchings

The paper defines a measure on the set of stable matchings in the marriage problem. This measure is based on the minimization of the envy difference between the sets of men and women, while preserving stability and selects stable matchings with the least conflict of interest between both groups of agents. The solution concept proposed is called Sex-equal Matching (SEM) and the paper also provides an algorithm to compute the set of SEM.     

Social mobility and demand for redistribution in Europe: a comparative analysis

The literature on preferences for redistribution has paid little attention to the effect of social mobility on the demand for redistribution and no systematic test of the hypotheses connecting social mobility and preferences for redistribution has yet been done to date. We use the diagonal reference model to estimate the effect of origin and destination classes on preferences for redistribution in a large sample of European countries using data from the European Social Survey. Our findings are consistent with the logic of acculturation in the sense that newcomers tend to adapt their views to those of the destination class at early stages and that upward and downward mobility do not have distinctive effects on the formation of political preferences. However, even though social origins seem to have a limited impact on preferences for redistribution, the evidence does not support the hypothesis that mobile and non‐mobile individuals are alike. We also find that the effect of social origin on preferences varies largely across countries. The empirical evidence leads to the conclusion that the effect of social origin on preferences for redistribution increases in contexts of strong familism.     

Physical activity is inversely related to drug consumption in elderly patients with cardiovascular events

Elderly patients with cardiovascular events are characterized by high drug consumptions. Whether high drug consumptions are related to physical activity is not known. In order to examine whether physical activity is related to drug consumption in the elderly, patients older than 65 years (n?=?250) with a recent cardiovascular event were studied. Physical activity was analyzed according to the Physical Activity Scale for the Elderly (PASE) score and related to drug consumption. PASE score was 72.4?±?45.0 and drug consumption was 8.3?±?2.2. Elderly patients with greater comorbidity took more drugs (8.7?±?2.1) and are less active (PASE?=?64.4?±?50.6) than patients with Cumulative Illness Rating Scale severity score higher than 1.8 than those with a score lower than 1.8 (76.3?±?41.4, p?<?0.05, and 8.0?±?2.0, p?=?0.006, respectively). Multivariate analysis correlation confirmed that PASE score is negatively associated with drug consumption (β?=??0.149, p?=?0.031), independently of several variables including comorbidity. Thus, physical activity is inversely related to drug consumption in elderly patients with cardiovascular events. This inverse relationship may be attributable to the high degree of comorbidity observed in elderly patients in whom poor level of physical activity and high drug consumption are predominant.     

Why females live longer than males: control of longevity by sex hormones

Females live longer than males in many species, including humans. We have traced a possible explanation for this phenomenon to the beneficial action of estrogens, which bind to estrogen receptors and increase the expression of longevity-associated genes, including those encoding the antioxidant enzymes superoxide dismutase and glutathione peroxidase. As a result, mitochondria from females produce fewer reactive oxygen species than those from males. Administering estrogens has serious drawbacks, however--they are feminizing (and thus cannot be administered to males) and may increase the incidence of serious diseases such as uterine cancer in postmenopausal women. Phytoestrogens, which are present in soy or wine, may have some of the favorable effects of estrogens without their undesirable effects. Study of gender differences in longevity may help us to understand the basic processes of aging and to devise practical strategies to increase the longevity of both females and males.     

Voting in professional associations: The case of the American sociological association revisited

Who votes in ASA elections? This article examines data on voter turnout from two recent presidential contests of the American Sociological Association in an analysis of the determinants of election participation. Extending the 1981 Ridgeway and Moore study of voting dynamics in the ASA, we hypothesize that intraorganizational networks and particular demongraphic characteristics link ASA members to the discipline in a manner analogous to the way such factors operate in the national electorate. On the basis of data compiled from 1985 and 1986 ASA election returns, we find that network factors are the most salient determinants of voting behavior. We conclude that those organizational ties that effectively link members, however directly or indirectly, to the larger Association are the most predictive of propensity to vote.