STOCK OWNERSHIP AND CONGRESSIONAL ELECTIONS: THE POLITICAL ECONOMY OF THE MUTUAL FUND REVOLUTION

We find that higher stock ownership rates are linked to an upward shift in the Republican share of the House popular vote since the late 1980s, consistent with theories that property interests affect voting. To proxy for discontinuous stock ownership rates, we use equity mutual fund costs, which have fallen, are negatively correlated with stock ownership rates and the Republican vote share in the long run, and help explain short‐run changes along with midterm elections, economic conditions, and presidential popularity. Findings suggest that the major parties’ shares of the House popular vote will fluctuate around 50% until other factors trigger a political realignment. (JEL D72, G11)     

Getting the story straight: evaluating the test-retest reliability of a university health history questionnaire.

This study was designed to establish the reliability of a health history questionnaire used as a screening tool for incoming university students. The authors used a test-retest design, with a test interval of 6 months, on a sample of medical and nursing students. The analysis focused on overall reliability of the questionnaire and reproducibility of specific items, based on question format. Questionnaire items of specific interest were those with dichotomous yes/no response options versus open-ended format questions, those using the words frequently or recently, or those that asked multiple questions. Demographic characteristics of the subjects were considered in the evaluation of reliability. Overall reliability of the questionnaire (93.6%) was above the anticipated level of 90%, and subject sex or program of study did not show any significant differences in reproducibility of responses. Although wording of questions did not affect item reliability, dichotomous format questions demonstrated a higher degree of reliability (96.4%) than the overall reliability of the questionnaire. Recommendations for enhancing the reliability of the questionnaire are based on item analysis and information gathered from interviews with subjects.     

Iterated Partial Sum Sequences of Regression Residuals and Tests for Changepoints with Continuity Constraints

Iterated partial sum sequences of regression least squares residuals are defined and large sample properties of sequences of stochastic processes defined by these iterated partial sums are discussed. Also, finite sample properties of the iterated partial sum sequences are obtained. These include a property of least squares residuals of polynomial fits to equispaced data, namely the iterated partial sums sum to 0 provided that the order of iteration is not greater than the order of the polynomial, thus extending the well-known result that residuals sum to 0. Iterated partial sums are shown to play an important role in testing regression parameters for changes at unknown times under the constraint of continuity.     

The use of sparsest cuts to reveal the hierarchical community structure of social networks

We show that good community structures can be obtained by partitioning a social network in a succession of divisive sparsest cuts. A network flow algorithm based on fundamental principles of graph theory is introduced to identify the sparsest cuts and an underlying hierarchical community structure of the network via maximum concurrent flow. Matula [Matula, David W., 1985. Concurrent flow and concurrent connectivity in graphs. In: Alavi, Y., et al. (Eds.), Graph Theory and its Applications to Algorithms and Computer Science. Wiley, New York, NY, pp. 543–559.] established the maximum concurrent flow problem (MCFP), and papers on divisive vs. agglomerative average-linkage hierarchical clustering [e.g., Matula, David W., 1983. Cluster validity by concurrent chaining. In: Felsenstein, J. (Ed.), Numerical Taxonomy: Proc. of the NATO Adv. Study Inst., vol. 1. Springer-Verlag, New York, pp. 156–166 (Proceedings of NATO ASI Series G); Matula, David W., 1986. Divisive vs. agglomerative average linkage hierarchical clustering. In: Gaul, W., and Schader, M. (Eds.), Classification as a Tool of Research. Elsevier, North-Holland, Amsterdam, pp. 289–301; Thompson, Byron J., 1985. A flow rerouting algorithm for the maximum concurrent flow problem with variable capacities and demands, and its application to cluster analysis. Master Thesis. School of Engineering and Applied Science, Southern Methodist University] provide the basis for partitioning a social network by way of sparsest cuts and/or maximum concurrent flow.     

The professionalization of Spanish social work: moving closer to Europe or away from its roots?

This article will review the processes of professionalization of social work in Spain. With the advent of democratic Spain, many professions began a process of transformation. Those rooted in the relationship between the citizens, their rights and obligations, and the state, were among the first to be challenged. Social work was one of them. Soon thereafter, the European Union (EU), which Spain joined in 1986, brought forth greater challenges and incentives to change. In 1999, Spain and 29 other countries signed the Bologna Declaration, which committed the country to the development of a shared domain (often referred to as ‘espacio común’) with European higher education. This article reviews the historical process of insertion of social work, heavily influenced by the Catholic tradition of caring, into the universities. The paper examines the model of social work education in Spain, before and during Franco's era, and the professionalization (sometimes referred to as ‘tecnificación’) of care-giving and training-paradigms that followed the advent of democracy. Current models and efforts to bring Spanish social work into EU compliance have narrowed the gap with the Anglo-Saxon world; but have they distanced social work in Spain from its roots?     

Explicit Distributional Results In Pattern Formation II

The paper derives the joint generating function of a collection of pattern statistics associated with binary sequences. The models discussed cover independent and some dependent Bernoulli trials, including Markov dependent ones. The results cover, in particular, the moment generating function of the random search time for certain general binary patterns in the popular Knuth-Morris-Pratt algorithm and hence shed more light into its performance.     

Literacy Skills as an Explanation for Labor Market Imbalances by Occupational Type in Canada: Microsimulation Projections for 2014–2024

Population Research and Policy Review - In Canada, the immigration selection process gives great importance to education level. However, studies find that given an equivalent level of education,...