Returns on education amongst men in England and Wales: The impact of residential segregation and ethno-religious background

Individuals’ occupational and educational attainment is influenced by their ethnicity, religion and colour in the UK and elsewhere. In this paper, we analyse the impact of ethnicity, religion and colour along with residential segregation¹ and socio-economic deprivation on returns to education for men in England and Wales. We analyse the 2001 UK census data by employing multi-level logistic regression models. It is found that non-White groups including Christian Black-African, UK born Sikh-Indians and South Asian Muslims are found to suffer an ethnic penalty compared to Christian White-British. While there is evidence to suggest that Muslim men may experience a greater penalty compared to some non-Whites other non-Muslim groups too face ethno-religious penalties, sometimes even more severely such as in the case of Christian Black-Africans. Socio-economic difficulties faced by ethnic minorities are also linked to spatial segregation only when associated with high levels of area deprivation. This suggests that what matters may not be segregation per se, but whether or not it is associated with deprivation.     

On the Mixture of Proportional Odds Models

This article studies the mixed proportional odds model. We build TP2 dependence between the overall population variable and the unobservable covariate and present some preservation properties. Relations on aging characteristics, such as odds function and (reversed) hazard rate, are discussed. Stochastic comparisons on overall population variables are conducted as well.     

Statistical Modeling of Temporal Dependence in Financial Data via a Copula Function

In financial analysis it is useful to study the dependence between two or more time series as well as the temporal dependence in a univariate time series. This article is concerned with the statistical modeling of the dependence structure in a univariate financial time series using the concept of copula. We treat the series of financial returns as a first order Markov process. The Archimedean two-parameter BB7 copula is adopted to describe the underlying dependence structure between two consecutive returns, while the log-Dagum distribution is employed to model the margins marked by skewness and kurtosis. A simulation study is carried out to evaluate the performance of the maximum likelihood estimates. Furthermore, we apply the model to the daily returns of four stocks and, finally, we illustrate how its fitting to data can be improved when the dependence between consecutive returns is described through a copula function.     

Asymptotic normality of kernel type regression estimators for random fields

The asymptotic normality of the Nadaraya–Watson regression estimator is studied for α-mixing$\alpha \text{-}\mathrm{mixing}$ random fields. The infill-increasing setting is considered, that is when the locations of observations become dense in an increasing sequence of domains. This setting fills the gap between continuous and discrete models. In the infill-increasing case the asymptotic normality of the Nadaraya–Watson estimator holds, but with an unusual asymptotic covariance structure. It turns out that this covariance structure is a combination of the covariance structures that we observe in the discrete and in the continuous case.     

驻韩美军基地整合及其动向效应

适逢朝核危机白热化之际 ,美国提出对驻韩美军基地进行重新整合 ,必然有其深刻意含。整合拟分两阶段进行。整合后的驻韩美军不仅将具备更强大的震慑力量和更快速的反应能力 ,亦将成为美国构建全球范围下国家安全战略网络的先驱部队。重新部署驻韩美军是美国早已确定的全球范围下驻军调整行动的一部分 ,但此举无疑将加深朝鲜半岛南北双方的忧虑。这对本已危机重重的半岛问题而言 ,无疑又楔入了一个危险参数 ,其作用的敏感性及其动向效应引起了东北亚国家的高度关注     

地区发展、经济机会、收入回报与省际人口流动

利用最新的第六次全国人口普查数据,本文考察了省际人口流动的空间模式,发现省际人口流动呈现明显的空间聚集态势.并进一步分析地区差异对省际人口流动的影响,结果表明：作为流出地,一个地区的经济发展水平对于人口流出具有显著的阻力效应,但经济机会的多寡和经济回报的高低并无显著的影响;作为流入地,一个地区的经济发展水平对于吸引人口流入并不具有显著的影响,其“拉力”主要表现为经济机会的多寡和经济回报的高低.因地区发展不平衡短期内难以改变、经济开放性会继续增强、收入地区分化仍将存在,加上更加自由的流动环境和不断改善的交通和通讯条件,省级人口流动在局部地区集中的趋势将会进一步被强化.     

Demand uncertainty and manufacturer returns policies for style-good retailing competition

This paper investigates the role of the returns policy in the co-ordination of supply chain: A manufacturer provides a return policy for unsold goods to two competing retailers who face uncertain demand. The problem is described with a game theory structure: The manufacturer, as the Stackelberg leader, first commits a returns price to the retailers under a given wholesale price. Upon receiving this information, two competing retailers, as followers, make decisions for their retail price and order size, in which the process of pricing and ordering is played as Nash equilibrium. Anticipated the retailers’ responses, the manufacturer designs his returns policy. Adopting the classic newsboy problem model framework and using numerical study methods, the study finds that the provision of a returns policy is dependent on the market conditions faced by the retailers. The paper also analyses the impact of demand variability on the decisions of optimal retail price and order quantity and profit reallocation between the manufacturer and the retailers. Finally, it investigates how the competing factor influences the decision-making of supply chain members in response to uncertain demand and profit variability.     

Least squares variogram fitting by spatial subsampling

Summary. Least squares methods are popular for fitting valid variogram models to spatial data. The paper proposes a new least squares method based on spatial subsampling for variogram model fitting. We show that the method proposed is statistically efficient among a class of least squares methods, including the generalized least squares method. Further, it is computationally much simpler than the generalized least squares method. The method produces valid variogram estimators under very mild regularity conditions on the underlying random field and may be applied with different choices of the generic variogram estimator without analytical calculation. An extension of the method proposed to a class of spatial regression models is illustrated with a real data example. Results from a simulation study on finite sample properties of the method are also reported.     

住房养老保险模式及其微观经济效应分析

我国正迅速步入老龄化社会 ,养老压力日益突出 ,传统养老模式已不能适应和满足市场经济条件下的养老需求。房产一般是家庭主要财富之一 ,但由于流动性差 ,在养老过程中其价值未得到充分利用。本文尝试通过一种新的模式设计 ,将房产价值和养老有机结合起来 ,提出住房养老保险模式 ,并从微观层面对其经济效应进行深入分析。     

When everyone goes to college: The causal effect of college expansion on earnings

In this study, we estimate the causal effect of college expansion on earnings using the example of South Korea in the 1990s where the college enrollment rate increased from just over thirty percent to over eighty percent over a fifteen years period. We compare the pre-expansion cohort and the post-expansion cohort in order to identify those who would attend college because of the expansion but would not attend otherwise (compliers). We, then, estimate compliers’ earnings gain from the college expansion relative to the earnings changes of two control groups: those who either would or would not go to college regardless of college expansion (always-takers and never-takers). We find a striking gendered pattern; for men, the earnings return to college expansion is moderate and mostly driven by the increasing skill price, whereas, for women, the return is significantly large even net of the skill price change.