Distribution of the cross-correlations of squared residuals in ARIMA models

ABSTRACT The distribution of the cross-correlations of squared residuals from Box-Jenkins models is considered in very general conditions, and the asymptotic distribution is derived. A test for a lagged relationship in volatility for economic time series under instantaneous causality is proposed, and its empirical behaviour is studied. An example involving the international stock market's volatility is studied, and an interesting result is observed.     

The Association of Survey Setting and Mode with Self-Reported Health Risk Behaviors among High School Students

This study examined whether the prevalence of self-reportedhealth risk behaviors among high school students varied by surveysetting (school versus home) and mode of administration (paperand pencil versus computer). Students in grades 9 and 11 wereassigned randomly to one of four conditions—school paper-and-pencilinstrument (PAPI), school computer-assisted self-interview (CASI),home PAPI, and home CASI. During the spring of 2004, 4,506 studentscompleted identically worded questionnaires based on the YouthRisk Behavior Survey questionnaire. Logistic regression analysescontrolling for sex, grade, and race/ethnicity revealed thatsetting was associated significantly with the reporting of 30of the 55 risk behaviors examined, and mode was associated significantlywith the reporting of 7 of the 55 behaviors. For all behaviorswith a significant setting main effect, the odds of reportingthe behavior were greater among students who completed questionnairesat school than among students who completed questionnaires athome. For all behaviors with a significant mode main effect,PAPI mode students had lower odds of reporting the behaviorthan CASI mode students. Because social measurement researchassumes that higher prevalence estimates are more valid thanlower estimates, methodological factors shown to increase estimates,such as setting and mode, should be considered when planningsurveys.     

Status Seeking and Social Welfare: Is There Virtue in Vanity?*

Objectives. This article examines how social status rewards can affect social welfare outcomes in the presence of positive and negative externalities. Method. A rational choice approach is used to characterize how individuals respond to incentives to seek high status (and avoid stigma) given existing preferences, technology, and the sources of status defined within a given reference group. Results. In the presence of market failures, the analysis identifies several kinds of status‐related interventions that encourage acts with positive externalities or discourage those with negative externalities, with results that contribute to social well‐being generally. Conclusions. The analysis characterizes ways that formal and informal social mechanisms can make these incentives more effective, and finds abundant evidence that interventions of this kind are widely observed in society today.