Reduced forms and weak instrumentation

ABSTRACT

This paper develops exact finite sample and asymptotic distributions for a class of reduced form estimators and predictors, allowing for the presence of unidentified or weakly identified structural equations. Weak instrument asymptotic theory is developed directly from finite sample results, unifying earlier findings and showing the usefulness of structural information in making predictions from reduced form systems in applications. Asymptotic results are reported for predictions from models with many weak instruments. Of particular interest is the finding that, in unidentified and weakly identified structural models, partially restricted reduced form predictors have considerably smaller forecast mean square errors than unrestricted reduced forms. These results are related to the use of shrinkage methods in system-wide reduced form estimation.     

Exploring a model of servant leadership,empowerment, and commitment in nonprofit organizations

This study examined a model of servant leadership's relationship to organizational commitment through structural and psychological empowerment, focusing on leader–follower dyads in a nonprofit organization. Survey data was collected from 128 employees of a nonprofit organization in a northeastern U.S. city. After model re‐specification, a well‐fitting model emerged, indicating that structural empowerment mediates the relationship between servant leadership and organizational commitment. Moreover, the model suggests that structural empowerment's effect on organizational commitment is both direct and indirect—the latter occurring through the meaning dimension of psychological empowerment. This study provides initial support for structural empowerment being a mechanism through which servant leadership impacts organizational commitment in nonprofits. In addition, the role of meaningful work is highlighted as an antecedent to organizational commitment for nonprofit employees. Servant leaders are suggested to create structurally empowering working environments, which support employees' stronger commitment to the organization.     

Are Turkish EFL pre-service teachers ready to manage intercultural challenges?

English as a foreign language (EFL) teachers, as the backbone of language teaching system, are expected to raise the awareness level of students’ intercultural communication competence by helping them relate their own culture to foreign cultures, empathise with foreign cultures’ perspectives and tolerate the ambiguities or differences. This study examines the relationship between certain personal factors such as age, gender, year of study, overseas experience and students’ preferences for Turkish movies over foreign ones and three predictors of intercultural communication competence namely, ambiguity tolerance, empathy and open-mindedness. The sample group of the study consisted of 145 prospective English teachers in the Educational Faculty of a state university in Turkey. The participants were asked to fill out a questionnaire consisting of two parts which investigated their background and perceived levels of ambiguity tolerance, open-mindedness and empathy in Turkish EFL context. The results indicated that half of pre-service EFL teachers had poor intercultural communication competence. In particular, males, the final-year students and those who had been abroad indicated higher levels of tolerance than their respective counterparts. Besides, age and students’ preferences for Turkish or foreign movies were not significant factors in any of the predictors of intercultural communication competence.     

供给侧结构性改革视野下我国文化贸易转型发展路径

在我国文化贸易“由逆转顺”的大背景下,如何优化文化贸易结构,推进文化贸易转型发展是一个重要课题。文章从供给侧结构性改革的角度,梳理了我国文化贸易供给侧结构性改革观点的提出,分析了其重大意义,提出了供给商品结构、供给主体结构和供给渠道三个主要改革内容,并从产品创新与品牌打造、供给模式创新与外贸供应链整合、文化产业组织创新与企业创新主体作用发挥、文化治理模式创新与鼓励创新氛围营造等四个方面提出了具体的改革举措。     

Behavioural insights,nudge and the choice environment in obesity policy

As obesity constitutes a growing health concern over the world, it has also become an important part of public policy agendas. This paper critically analyses the development of the policy debate and measures around obesity in the UK. The paper contributes to the debate by challenging the current individualized nature of nudge policies as the most popular application of behavioural economics to policy. We argue that it may be possible to change the choice architecture of individuals through nudge, but the overall effectiveness of such policies would be limited because the broader social, economic and political architecture shaping individual choices is ignored. The case of the UK provides a good illustration where concrete policy measures are predominantly focused on choice despite growing recognition of the structural determinants of obesity, and the governments are thus able to avoid threatening free markets and existing economic interests. Whilst the recently introduced sugar tax constitutes a certain shift in policy, it clearly remains an exception within the whole policy package.     

秦皇岛市高新技术产业结构分析

从分析秦皇岛市高新技术产业的现状入手,利用全市经济普查数据,从相关系数、各高新技术行业的比例关系、各高新技术行业的贡献率三个角度对高新技术产业内部结构进行重点分析,提出推进秦皇岛市高新技术产业发展的主要对策。     

Parental Work Demands and the Frequency of Child‐Related Routine and Interactive Activities

This study examined whether the frequency of child‐related activities was associated with parents' own work demands and those of their partners. In addition to parental paid working hours, we considered the parents' organizational culture and experienced job insecurity. Moreover, we differentiated between child‐related routine and interactive activities. Using self‐collected data on 639 Dutch couples with children, we found that paid working hours were consistently associated with a lower frequency of child‐related activities. Fathers generally responded more strongly to their own and their partner's work demands than mothers. For fathers, both their own and their partner's work demands were more strongly associated with routine than with interactive activities. Mothers did not differentiate between these activities, however.     

Economic Crisis and Marital Problems in Turkey: Testing the Family Stress Model

This paper applied the family stress model to the case of Turkey in the wake of the 2001 economic crisis. Using structural equation modeling and a nationally representative urban sample of 711 married women and 490 married men, we tested whether economic hardship and the associated family economic strain on families resulted in greater marital problems. Our results showed a modified family stress model applies to Turkey. In contrast to most previous research, economic strain had a direct effect on marital problems, and the indirect effect of strain, via emotional distress, was only significant for women. The results were interpreted in light of social and cultural factors that condition how economic distress affects marital relations.     

我国A股市场的模糊性溢价——基于日内高频数据的分析

基于Izhakian(2020)不确定性概率分布下的预期效用理论框架,本文实证研究了我国A股市场的模糊性溢价问题。利用上证综指的日内高频收益数据估计日收益率分布,以月度内日收益率分布的波动性衡量月度市场模糊性,并对模糊性-风险-收益的权衡关系进行实证检验。结果发现:(1)我国A股市场存在时变的模糊性,其模糊性溢价不总是正数,而是依赖于投资者对市场的预期;(2)模糊性溢价和风险溢价受到市场预期的影响,好的市场预期有正的模糊性溢价(模糊厌恶)和负的风险溢价(风险爱好),不好的市场预期有负的模糊性溢价(模糊爱好)和正的风险溢价(风险厌恶)。这些发现不同于当前文献中的许多结果,可以很好地解释市场中的"追涨杀跌"现象。     

《傲慢与偏见》:全反讽的艺术

<傲慢与偏见>是奥斯丁借助反讽手法悉心雕凿的艺术精品,它对于反讽的使用主要体现在三大方面一、以反讽表现主题;二、以反讽刻画人物;三、以反讽组织情节和语言.反讽使该小说成为一部具有浓厚喜剧色彩的现实主义杰作.