Cities, material flows and the geography of spatial interaction: urban places in the system of chains

The emerging discourses on world cities and Global Commodity Chains are valuable spatial frameworks for conceptualizing globalization and its spatial consequences. However, both discourses have one thing in common: they neglect the territorial and thus physical dimension of global flows. Hence, in this article I take the perspective of material flows to reconnect the discourses on cities and chains. I aim to clarify the role of urban places and their ability to attract, manage and redirect flows in such networks. I do so by re-examining classical concepts of spatial interaction and reorganization in human geography, with particular reference to centrality and intermediacy. The case of seaports and port cities is further explored to demonstrate the concrete conflicts and opportunities that arise with chain developments and insertion. To determine the relative position of places with regard to global chains and flows, Sheppard's concept of 'positionality' is discussed.     

Image‐Based Empirical Importance Sampling: An Efficient Way of Estimating Intensities

Abstract. Very recently, it has been suggested in the biomedical literature to combine computerized image analysis with non‐uniform sampling to increase the efficiency of estimators of intensities of biological cell populations. We give this ingenious idea of empirical importance sampling a stochastic formulation, using point process theory and modern sampling theory. We develop statistical tools for assessing its efficiency and construct optimal model‐based estimators of intensities. Examples of applications of empirical importance sampling in microscopy are provided.     

Efficient Covariance Estimation for Asynchronous Noisy High‐Frequency Data

Abstract. We focus on estimating the integrated covariance of log‐price processes in the presence of market microstructure noise. We construct a consistent asymptotically unbiased estimator for the quadratic covariation of two Itô processes in the case where high‐frequency asynchronous discrete returns under market microstructure noise are observed. This estimator is based on synchronization and multi‐scale methods and attains the optimal rate of convergence. A lower bound for the rate of convergence is derived from the local asymptotic normality property of the simpler parametric model with equidistant and synchronous observations. A Monte Carlo study analyses the finite sample size characteristics of our estimator.     

THE COMBINED EFFECT OF SALARY RESTRICTIONS AND REVENUE SHARING IN SPORTS LEAGUES

Many major sports leagues are characterized by a combination of cross‐subsidization mechanisms like revenue‐sharing arrangements and payroll restrictions. Up to now, the effects of these policy tools have only been analyzed separately. This article provides a theoretical model of a team sports league and analyzes the combined effect of salary restrictions (caps and floors) and revenue sharing. It shows that the effect on club profits, player salaries, and competitive balance crucially depends on the mix of these policy tools. Moreover, the invariance proposition does not hold even under Walrasian‐conjectures if revenue sharing is combined with a salary cap or floor. (JEL L83, C72, L11)     

Weak Convergence of the Wild Bootstrap for the Aalen–Johansen Estimator of the Cumulative Incidence Function of a Competing Risk

Abstract. We give a rigorous study of weak convergence of the wild bootstrap for non‐parametric estimation of the cumulative event probability of a competing risk. The data may be subject to independent left‐truncation and right‐censoring. Inclusion of left‐truncation is motivated by a study on pregnancy outcomes. The wild bootstrap includes as one case a popular resampling technique, where the limit distribution is approximated by repeatedly generating standard normal variates, while the data are kept fixed. Simulation results and a data example are also presented.     

HOW DOES GLOBALIZATION AFFECT THE IMPLICIT TAX RATES ON LABOR INCOME,CAPITAL INCOME,AND CONSUMPTION IN THE EUROPEAN UNION?

This article analyzes the effects of globalization on implicit tax rates (ITRs) on labor income, capital income, and consumption in the EU15 and Central and Eastern European New Member States (CEE NMS). We find supportive evidence for an increase in the ITR on labor income in the EU15, but no effect on the ITR on capital income. There is evidence of convergence in terms of the ITR on consumption, as countries with higher than average ITR on consumption respond to globalization by decreasing their tax rates. There are important differences among the welfare regimes within the EU15. Social‐democratic countries have decreased the tax burden on capital, but increased that on labor due to globalization. Globalization exerts a pressure to increase taxes on labor income in the conservative and liberal regimes as well. Taxes on consumption decrease in response to globalization in the conservative and social‐democratic regimes. In the CEE NMS, there is no effect of globalization on the ITR on labor and capital income, but we find a negative impact on the ITR on consumption in the CEE NMS with higher than average ITR on consumption. (JEL H23, H24, H25, F19, F21)