DISTRIBUTIONAL INCENTIVES IN AN EQUILIBRIUM MODEL OF DOMESTIC SOVEREIGN DEFAULT

Europe's debt crisis resembles historical episodes of outright default on domestic public debt about which little research exists. This paper proposes a theory of domestic sovereign default based on distributional incentives affecting the welfare of risk‐averse debt and nondebtholders. A utilitarian government cannot sustain debt if default is costless. If default is costly, debt with default risk is sustainable, and debt falls as the concentration of debt ownership rises. A government favoring bond holders can also sustain debt, with debt rising as ownership becomes more concentrated. These results are robust to adding foreign investors, redistributive taxes, or a second asset.     

Expanded renal transplantation: a competing risk model approach

Multi-state models (MSMs) are useful to analyze survival data when, besides the event of main interest, one or more intermediate states of the individual are identified. These models take the several existing states and the possible transitions among them into account. At the same time, covariate effects on each transition intensity may be investigated separately and, therefore, MSMs are more flexible than the standard Cox proportional hazards model. In this work, we use MSMs to investigate the impact of the quality of a transplanted kidney for a group of patients at the Hospital Universitario Central de Asturias. Specifically, we use an illness-death model to study the evolution of patients with kidney disease who received a renal transplant after a dialysis period. The intermediate state is defined as the failure of the received organ, while the terminating state is the death of the patient. In order to increase the potential number of organs available for transplant, the standards of quality for the transplanted kidneys were relaxed (the new criteria are labeled expanded criteria), and these ‘expanded kidneys’ were transplanted in appropriate candidates (older patients, with higher prevalence of diabetes mellitus). Results suggest that the expanded kidneys have a minor effect on survival, while both the kidney mortality and the risk of death increase with the patient's age and the serum creatinine and serum hemoglobin levels.     

El emplazamiento de la memoria colectiva: Crónica Psicosocial

Resumen

El presente trabajo estudia la influencia de la «discusión grupal» sobre los estados afectivos inducidos. Se esperaba que, después de inducir estados afectivos (positivo vs negativo vs neutro) mediante la visión de secuencias de películas, el contexto de discusión grupal (positivo vs negativo), acentuara o atenuara el efecto del método de inducción. Para ello, se utilizó un diseño experimental en el que participaron un total de 60 sujetos, y en el que se analizaron las respuestas de cada grupo experimental en una tarea de asociación libre de palabras. Nuestros resultados demuestran que el efecto del contexto grupal es más potente que el de la visión de películas cortas, originando un número significativamente mayor de palabras originales en el primer caso que en el segundo. Estos resultados son analizados a la luz de recientes teorías sobre cognición y afecto.     

The Ranking of the Regions With Regard to Their Sports Facilities to Improve Their Planning in Sport: The Case of Spain

Sports facility planning by the public authorities should be considered to be one of the main policies to have an indirect influence on the aim of ensuring a healthy population, as well as reducing its physical inactivity. Our research aims to study and compare the state of sports infrastructures in the regions of Spain, using a synthetic indicators. Our results should serve not only to detect the vast imparity between different regions, which has come about because of varying investment and management with regard to sports infrastructures, but also to redirect building planning and sports management policies onto the right path, and also give food for thought.     

Nonstandard Employment in the Nonmetropolitan United States*

Abstract We examine the prevalence of nonstandard employment in the nonmetropolitan United States using the Current Population Survey Supplement on Contingent Work (1999 and 2001). We find that nonstandard work is more prevalent in nonmetropolitan than in central city or suburban areas. Logistic regression models controlling for sociode‐mographic and work characteristics, show that nonmetropolitan workers experience higher odds of nonstandard employment than central city or suburban workers. Variations in industrial and occupational structures in nonmetro and metro areas do not explain residential differences in nonstandard work. We also estimate the odds of employment in each of the three components of nonstandard work: contingent work, part‐time, and varied hour work. Nonmetropolitan workers are more likely than central city and suburban workers to be employed in contingent or varied hour work. The benefits and wages of nonstandard work are lower than for standard work across residence areas. The results highlight the importance of understanding nonstandard work and the components of nonstandard work, particularly when considering the nature of work across industries, occupations, and residence.     

The Kumaraswamy distribution: median-dispersion re-parameterizations for regression modeling and simulation-based estimation

The Kumaraswamy distribution is very similar to the Beta distribution, but has the important advantage of an invertible closed form cumulative distribution function. The parameterization of the distribution in terms of shape parameters and the lack of simple expressions for its mean and variance hinder, however, its utilization with modeling purposes. The paper presents two median-dispersion re-parameterizations of the Kumaraswamy distribution aimed at facilitating its use in regression models in which both the location and the dispersion parameters are functions of their own distinct sets of covariates, and in latent-variable and other models estimated through simulation-based methods. In both re-parameterizations the dispersion parameter establishes a quantile-spread order among Kumaraswamy distributions with the same median and support. The study also describes the behavior of the re-parameterized distributions, determines some of their limiting distributions, and discusses the potential comparative advantages of using them in the context of regression modeling and simulation-based estimation.     

Irregularities in X(Y) from Y(X) in linear calibration

Let X be an input measurement and Y the output reading of a calibrated instrument, with Y(X) as the calibration curve. Solving X(Y) projects an instrumental reading back onto the scale of measurements as an object of pivotal interest. The arrays of instrumental readings are projected in this manner in practice, yielding arrays of calibrated measurements, typically subject to errors of calibration. The effects of calibration errors on the properties of calibrated measurements are examined here under linear calibration. Irregularities arise as induced dependencies, inflated variances, non-standard distributions, inconsistent sample means, the underestimation of measurement variance, and other unintended consequences. On the other hand, conventional properties are seen to remain largely in place in the use of selected regression diagnostics and in one-way comparative experiments using calibrated data.     

Hypothesis test for paired samples in the presence of missing data

Missing data are present in almost all statistical analysis. In simple paired design tests, when some subject has one of the involved variables missing in the so-called partially overlapping samples scheme, it is usually discarded for the analysis. The lack of consistency between the information reported in the univariate and multivariate analysis is, perhaps, the main consequence. Although the randomness on the missing mechanism (missingness completely at random) is an usual and needed assumption for this particular situation, missing data presence could lead to serious inconsistencies on the reported conclusions. In this paper, the authors develop a simple and direct procedure which allows using the whole available information in order to perform paired tests. In particular, the proposed methodology is applied to check the equality among the means from two paired samples. In addition, the use of two different resampling techniques is also explored. Finally, real-world data are analysed.