Corrected p-values for tests based on estimated nuisance parameters

In some situations the asymptotic distribution of a random function T _n() that depends on a nuisance parameter is tractable when has known value. In that case it can be used as a test statistic, if suitably constructed, for some hypothesis. However, in practice, often needs to be replaced by an estimator S _n. In this paper general results are given concerning the asymptotic distribution of T _n(S _n) that include special cases previously dealt with. In particular, some situations are covered where the usual likelihood theory is nonregular and extreme values are employed to construct estimators and test statistics.     

Loan performance and race

Recent studies find evidence of racial discrimination in mortgage markets. Although these studies explore loan approval rates for whites versus minorities, they do not specifically consider loan performance, either in the form of default rates or loan administration costs. This study considers discrimination in the used car credit market, where the collateral is not subject to location externalities, collateral value and quality do not vary as much as in real estate, and the loan terms are shorter. We find administration costs and default rates are higher for minorities than for whites, controlling for age, income, home ownership, wealth, occupation, loan terms, and geographic location.     

Unsettling the 'learning community': From 'dialogue' to 'difference'?

The focus of this article is adult learning theory and the concept of ‘communities of learning’. Drawing on the authors' experiences as educators, it offers a critique of liberal-humanist and critical ideas about pedagogy, and draws on feminist poststructuralism to disrupt notions of ‘dialogue’, ‘community’and ‘difference’. The aim is to interrupt critical pedagogies through recognition of partial knowledges, exclusionary practices, and differences and similarities within learning communities. The article argues the need for an understanding which acknowledges both the universal and the particular, and engages with the discursive and the material realities entailed. El foco de este artículo es la teoría de aprendizaje para adultos y el concepto de ‘comunidades de aprendizaje’. Recurriendo a las experiencias de los autores como educadores, ofrece una crítica de las ideas liberales-humanistas e ideas críticas acerca de pedagogia, y recurre tambien al postestructuralismo femenista para trastocar nociones de ‘diálogo’, ‘comunidad’ y ‘diferencia’. El objectivo es interrumpir pedagogias críticas mediante el reconociemto de conocimientos parciales, prácticas exclusionarias y diferencias y similitudes entre comunidades de aprendizaje. El artículo sostiene la necesidad de un entendimiento que reconoce tanto lo universal como lo particular, y que aborda las supuestas realidades materiales y discursivas.     

Efficiency of Large Double Auctions

We consider large double auctions with private values. Values need be neither symmetric nor independent. Multiple units may be owned or desired. Participation may be stochastic. We introduce a very mild notion of “a little independence.” We prove that all nontrivial equilibria of auctions that satisfy this notion are asymptotically efficient. For any α>0, inefficiency disappears at rate 1/n^2‐α.     

Strike Outcomes and Wage Settlements in Spain

Abstract. This paper analyses collective bargaining using Spanish firm‐level data. Central to the analysis are the joint determination of wage and strike outcomes in a dynamic framework and the possibility of separate wage equation for strike and non‐strike outcomes. Conditional to strikes taking place, we confirm a negative relationship between strike duration and wage changes in a dynamic context. In this sense, the joint effect of the strike variables is positive for short strikes and negative for long ones (above 20 days). Furthermore, we find selection in wage equations induced by the strike outcome. In this sense, the possibility of wage determination processes being different in strike and non‐strike samples is not rejected by the data. In particular, wage dynamics are of opposite sign in both strike and non‐strike equations. Finally, we find evidence of a 0.33 percentage points wage change strike premium.     

A Health Risk Benchmark for the Neurologic Effects of Styrene: Comparison with NOAEL/LOAEL Approach

Benchmark dose (BMD) analysis was used to estimate an inhalation benchmark concentration for styrene neurotoxicity. Quantal data on neuropsychologic test results from styrene-exposed workers [Mutti et al. (1984). American Journal of Industrial Medicine, 5, 275-286] were used to quantify neurotoxicity, defined as the percent of tested workers who responded abnormally to > or = 1, > or = 2, or > or = 3 out of a battery of eight tests. Exposure was based on previously published results on mean urinary mandelic- and phenylglyoxylic acid levels in the workers, converted to air styrene levels (15, 44, 74, or 115 ppm). Nonstyrene-exposed workers from the same region served as a control group. Maximum-likelihood estimates (MLEs) and BMDs at 5 and 10% response levels of the exposed population were obtained from log-normal analysis of the quantal data. The highest MLE was 9 ppm (BMD = 4 ppm) styrene and represents abnormal responses to > or = 3 tests by 10% of the exposed population. The most health-protective MLE was 2 ppm styrene (BMD = 0.3 ppm) and represents abnormal responses to > or = 1 test by 5% of the exposed population. A no observed adverse effect level/lowest observed adverse effect level (NOAEL/LOAEL) analysis of the same quantal data showed workers in all styrene exposure groups responded abnormally to > or = 1, > or = 2, or > or = 3 tests, compared to controls, and the LOAEL was 15 ppm. A comparison of the BMD and NOAEL/LOAEL analyses suggests that at air styrene levels below the LOAEL, a segment of the worker population may be adversely affected. The benchmark approach will be useful for styrene noncancer risk assessment purposes by providing a more accurate estimate of potential risk that should, in turn, help to reduce the uncertainty that is a common problem in setting exposure levels.     

Mind the Gap: Exploring the Implementation Deficit in the Administration of the Stricter Benefits Regime

This paper reviews the evidence which suggests that the coercive aspects of UK unemployment and social security policies have not been implemented as rigorously as policy statements and commentators have implied. The analysis explores the tension between policing benefits and the duty to provide genuine assistance to job seekers. It suggests that policy ambiguity leads to the exercise of informal discretion, which in turn facilitates the non-implementation of the least favoured policy objectives. The introduction of managerialist practices does not appear to have had a beneficial effect on the administration of active labour market policies, in terms of either achieving policy objectives or providing a better service for unemployed people. Rather, it would appear that the additional stresses imposed on staff by resource constraints, work intensification and the pressure to meet performance targets have led to a lowering of morale which cannot help but be reflected in the standard of service available to the unemployed.     

The statistical monitoring of a complex manufacturing process

This paper describes the development of a multivariate statistical process performance monitoring scheme for a high-speed polyester film production facility. The objective for applying multivariate statistical process control (MSPC) was to improve product consistency, detect process changes and disturbances and increase operator awareness of the impact of both routine maintenance and unusual events. The background to MSPC is briefly described and the various stages in the development of an at-line MSPC representation for the production line are described. A number of case studies are used to illustrate the power of the methodology, highlighting its potential to assist in process maintenance, the detection of changes in process operation and the potential for the identification of badly tuned controller loops.     

Social exclusion in Europe: some conceptual issues

In the late 20th and early 21st century, social exclusion has become something of a trope around which is pegged justifications for various reforms. The notion of social exclusion has found its way into the lexicon of all major global governance institutions. How has this happened, and what are its implications for scholars of contemporary welfare reforms? In this article, we consider the ‘rise and rise’ of the discourse of social exclusion, with particular reference to its development as a policy paradigm within the European Union. We note that its initial iteration was anchored in a functionalist discourse of social organisation but that this was quickly challenged both by post‐structuralist and post‐colonial perspectives and by research findings that undermined the view of mainstream institutions as fundamentally integrative and inclusive in nature. The debate about social exclusion, we suggest, is simultaneously a debate about the historical and social dynamics of European modernity.     

Did wages reflect growth in productivity?

The level of productivity doubled in the U.S. nonfarm business sector between 1970 and 2006. Wages, or more accurately total compensation per hour, increased at approximately the same annual rate during that period if nominal compensation is adjusted for inflation in the same way as the nominal output measure that is used to calculate productivity. Total employee compensation as a share of national income was 66% of national income in 1970 and 64% in 2006. This measure of the labor compensation share has been remarkably stable since the 1970s. It rose from an average of 62% in the decade of the 1960s to 66% in the decades of the 1970s and 1980s and then declined to 65% in the decade of the 1990s where it has again been from 2000 until the most recent quarter.