Multivariate Markov switching dynamic conditional correlation GARCH representations for contagion analysis

This paper provides an extension of the Dynamic Conditional Correlation model of Engle (2002) by allowing both the unconditional correlation and the parameters to be driven by an unobservable Markov chain. We provide the estimation algorithm and perform an empirical analysis of the contagion phenomenon in which our model is compared to the traditional CCC and DCC representations. We acknowledge financial support from the Italian national research project on "The Euro and European financial market volatility: contagion, interdependence and volatility transmission" financed by the Italian Ministry of University and Research. Furthermore, we thank William De Pieri for research assistance and are grateful to Loriana Pelizzon, Claudio Pizzi, Domenico Sartore and the participants at the Forecasting Financial Markets 2004 conference and at the XLII Annual Meeting of the Italian Statistical Society for helpful comments. Usual disclaimer applies. Correspondence to: Monica Bilio     

Brief Communications: Gender Differences in Gambling Progression

The authors compared 39 women and 38 men entering an outpatient treatment program for pathological gambling. They were diagnosed according to DSM-IV and selected by SOGS, followed by a semi-structured interview for demography and progression of the gambling behavior prior to treatment. Women were more often single (59% vs. 26%; p = .005) and started gambling significantly later than men (34.2 vs. 20.4 years; p < .001). The progression of the disorder was more than 2 times faster in women than in men. There was no difference in the age of seeking treatment (44.7 vs. 42.3 years). Findings from this study resemble gender differences in other addictions—in particular the faster progression among women—challenge pharmacodynamic hypotheses for this phenomenon, and suggest gender into account when devising treatment strategies for pathological gambling.     

Oregon water: Assessing differences between the Old and New Wests

The history of the American West is intimately tied to the movement and management of water. As the West developed, so too did the image of rural Westerners. As stressors like climate change and population growth strain existing water supplies, resource management benefits from understanding whether fundamental differences exist between the residents in the Old (rural) West and the New (urban) West. Using a survey conducted in the spring of 2010 of Oregon residents, this study explores whether residents in Oregon show distinct differences in environmental concern based on rural or urban residency. The results show that there are differences between groups on environmental beliefs, but likely attributed to factors other than rural and urban residency, and there are no significant differences between groups on water.     

Frauen in der Migrationsbewegung: ihre „Spiegelfunktion” in den Sozio-ökonomischen und Kulturellen Wandlungsprozessen

Migrations have the function to act as a ?mirror“ of structural as well as subjective changes. The article focuses on this function within the processes of social transformation of our times, with a particular attention to the female component. It allows in a symbolical way to observe the passage from the fordist model of production and labour to the post-fordism, where the need of labour in the tertiary sector is growing and more flexible. Furthermore, the work of migrant women makes the ongoing transformation within the welfare states visible, crossed by strong reorganisations. Finally, female migrations are useful in reading problems and challenges connected with the multicultural question, as migrant women are often placed on the threshold of different cultural references.