Personal Aspects of Career Counseling: Three Examples

In this article the author describes three fictitious university counseling center clients who are struggling with career issues related to their personal development. Suggestions are given regarding ways to conceptualize their situation as well as methods of individualized career guidance.     

Positivity conditions for stochastic state space modelling of time series

This short paper clarifies some aspects of the balancing method for state space modelling of observed time series. This method may fail to satisfy the so-called positive real condition for stochastic processes. We illustrate this by theoretical spectral analysis and also by simulating univariate ARMA (1,1) models.     

An Examination of the Relationship Between Career Thoughts and Communication Apprehension

This study examined relationships among dysfunctional career thoughts and levels of communication apprehension. Undergraduate students, 88 women and 87 men, completed the Career Thoughts Inventory (CTI; J. P. Sampson, G. W. Peterson, J. G. Lenz, R. C. Reardon, & D. E. Saunders, 1996) and the Personal Report of Communication Apprehension (PRCA‐24; J. C. McCroskey, 1984b). Analysis of correlation coefficients found significant mild‐to‐moderate correlations among scales of the CTI and the PRCA‐24. The results indicated that individuals with average and high levels of communication apprehension had greater decision‐making confusion, commitment anxiety, and external conflict than persons with low levels of communication apprehension. Implications for counseling and further research are discussed in light of these results.     

A stochastic recurrence equations approach for score driven correlation models

We describe stationarity and ergodicity (SE) regions for a recently proposed class of score driven dynamic correlation models. These models have important applications in empirical work. The regions are derived from sufficiency conditions in Bougerol (1993 Bougerol, P. (1993). Kalman filtering with random coefficients and contractions. SIAM Journal on Control and Optimization 31(4):942–959.[Crossref], [Web of Science ®] , [Google Scholar]) and take a nonstandard form. We show that the nonstandard shape of the sufficiency regions cannot be avoided by reparameterizing the model or by rescaling the score steps in the transition equation for the correlation parameter. This makes the result markedly different from the volatility case. Observationally equivalent decompositions of the stochastic recurrence equation yield regions with different shapes and sizes. We use these results to establish the consistency and asymptotic normality of the maximum likelihood estimator. We illustrate our results with an analysis of time-varying correlations between U.K. and Greek equity indices. We find that also in empirical applications different decompositions can give rise to different conclusions regarding the stability of the estimated model.     

Economic Factors and Relationship Quality Among Young Couples: Comparing Cohabitation and Marriage

Are economic resources related to relationship quality among young couples, and to what extent does this vary by relationship type? To answer these questions, we estimated regression models predicting respondent reports of conflict and affection in cohabiting and married partner relationships using the National Longitudinal Study of Youth, 1997 (NLSY97, N = 2,841) and the National Longitudinal Study of Adolescent Health (Add Health, N = 1,702). We found that economic factors are an important predictor of conflict for both married and cohabiting couples. Affection was particularly responsive to human capital rather than short‐term economic indicators. Economic hardship was associated with more conflict among married and cohabiting couples.     

Portfolio rebalancing with an investment horizon and transaction costs

In this paper we consider the problem of rebalancing an existing financial portfolio, where transaction costs have to be paid if we change the amount held of any asset. These transaction costs can be fixed (so paid irrespective of the amount traded provided a trade occurs) and/or variable (related to the amount traded). We indicate the importance of the investment horizon when rebalancing such a portfolio and illustrate the nature of the efficient frontier that results when we have transaction costs. We model the problem as a mixed-integer quadratic programme with an explicit constraint on the amount that can be paid in transaction cost. Our model incorporates the interplay between optimal portfolio allocation, transaction costs and investment horizon. We indicate how to extend our model to include cardinality constraints and present a number of enhancements to the model to improve computational performance. Results are presented for the solution of publicly available test problems involving up to 1317 assets.     

Estimating the Reliability of Single-Item Life Satisfaction Measures: Results from Four National Panel Studies

Life satisfaction is often assessed using single-item measures. However, estimating the reliability of these measures can be difficult because internal consistency coefficients cannot be calculated. Existing approaches use longitudinal data to isolate occasion-specific variance from variance that is either completely stable or variance that changes systematically over time. In these approaches, reliable occasion-specific variance is typically treated as measurement error, which would negatively bias reliability estimates. In the current studies, panel data and multivariate latent state-trait models are used to isolate reliable occasion-specific variance from random error and to estimate reliability for scores from single-item life satisfaction measures. Across four nationally representative panel studies with a combined sample size of over 68,000, reliability estimates increased by an average of 16% when the multivariate model was used instead of the more standard univariate longitudinal model.     

Connectivity and Resilience: A Multidimensional Analysis of Infrastructure Impacts in the Southwestern Amazon

Infrastructure is a worldwide policy priority for national development via regional integration into the global economy. However, economic, ecological and social research draws contrasting conclusions about the consequences of infrastructure. We present a synthetic approach to the study of infrastructure, focusing on a multidimensional treatment of indicators of connectivity and resilience. As our study case, we adopt a tri-national frontier in the southwestern Amazon being integrated by a highway, and use survey data for rural leaders to evaluate the relationship of community connectivity to market towns and social-ecological resilience. The findings show varying relationships among different dimensions of connectivity and resilience, which bear implications regarding indicator approaches to the study of infrastructure impacts.     

Building Blocks for a Precautionary Approach to the Use of Nanomaterials: Positions Taken by Trade Unions and Environmental NGOs in the European Nanotechnologies Debate

As partners in the European capacity‐building project NanoCap, trade unions and environmental nongovernmental organizations (NGOs) have established positions on the development of nanotechnologies. Key in their positioning is their view that the use of nanomaterials with currently unknown occupational and environmental hazards must have consequences for the risk management and use of nanoproducts. They have made proposals for responsible manufacturing and for applying the precautionary principle to the use of nanoproducts and they urgently call for the acceptance and the operationalization of a precautionary approach by the industry and governments. The trade unions and NGOs are calling for transparency and openness regarding processes and products that contain nanomaterials and have proposed specific tools for nanomaterial use that put the precautionary principle into practice, including the principles no data → no exposure and no data → no emission. The proposed tools also include compulsory reporting of the type and content of nanoparticles applied in products, a register of workers possibly exposed to nanoparticles, and the use of nano reference values as guides to assess workplace exposure to nanoparticles.