Expenditure Differences of University Degree Holders Across Occupational Sectors in Malaysia

This study was motivated by the key role university degree holders play in Malaysia's vision for the future and by concerns expressed about the drift of university degree holders from one sector to another. A questionnaire was mailed to a sample of 400 Malaysian families that had at least one member who held a university degree. The objective was to elicit details of the household economic situation of respondents, with special reference to the differences in expenditure patterns between families whose degree holder worked in higher education, government, or the private sector.Results of tobit analysis of expenditures show that there are some differences between the sectors regarding expenditure patterns, but the differences are not as great as expected. Nevertheless, university-educated persons in the private sector seem to have somewhat different expenditure patterns than their counterparts in other sectors.     

Reversed preservation of stochastic orders for random minima and maxima with applications

In this paper, reversed preservation properties of right spread order, total time on test order and increasing convex (concave) order when taking random minima and maxima are developed. In this context, reversed preservation properties of some ageing concepts are investigated under parallel (series) systems which are composed of a random number of i.i.d. components. Some applications in reliability and economics are given.     

A structured variational learning approach for switching latent factor models

A data-driven approach for modeling volatility dynamics and co-movements in financial markets is introduced. Special emphasis is given to multivariate conditionally heteroscedastic factor models in which the volatilities of the latent factors depend on their past values, and the parameters are driven by regime switching in a latent state variable. We propose an innovative indirect estimation method based on the generalized EM algorithm principle combined with a structured variational approach that can handle models with large cross-sectional dimensions. Extensive Monte Carlo simulations and preliminary experiments with financial data show promising results.     

Public relations in the United Arab Emirates: The emergence of a profession

This paper discusses the development of public relations in a fast growing emerging country, United Arab Emirates. The making of the public relations profession in UAE has been affected tremendously by the socio-economic, educational and cultural development of the country. Ministries and government administrations established their in-house public relations departments and sections to respond to the growing demands of their various publics. Journalism and Mass Communication departments launched PR programs to meet the growing needs of the job market with qualified practitioners. International public relations agencies chose Dubai as a base for their activities in the UAE and the region. The future of public relations in the UAE is very promising. Although it is facing some problems, public relations is the job of the future.     

Problematic Progress in Asia: Growing Older and Apart

The purpose of this article is to describe the demographic dynamics in 14 Asian countries. The foreseen impacts on economic growth, income disparity, social stability, pension programs, retirement, health care insurance, and labor market are presented. Public policy recommendations are delineated.