Pricing Index Options with Stochastic Volatility

The objective of this paper is to investigate the pricing accuracy under stochastic volatility where the volatility follows a square root process. The theoretical prices are compared with market price data (the German DAX index options market) by using two different techniques of parameter estimation, the method of moments and implicit estimation by inversion. Standard Black & Scholes pricing is used as a benchmark. The results indicate that the stochastic volatility model with parameters estimated by inversion using the available prices on the preceding day, is the most accurate pricing method of the three in this study and can be considered satisfactory. However, as the same model with parameters estimated using a rolling window (the method of moments) proved to be inferior to the benchmark, the importance of stable and correct estimation of the parameters is evident.

The Physical Strenuousness of Work is Slightly Associated with an Upward Trend in the Body Mass Index

This paper explores the relationship between the physical strenuousness of work and the body mass index in Finland, using individual microdata over the period 1972-2002. The data contain self-reported information about the physical strenuousness of a respondent’s current occupation. Our estimates show that the changes in the physical strenuousness of work can explain around 8% at most of the definite increase in BMI observed over the period. The main reason for this appears to be that the quantitative magnitude of the effect of the physical strenuousness of work on BMI is rather moderate. Hence, according to the point estimates, BMI is only around 1.5% lower when one’s current occupation is physically very demanding and involves lifting and carrying heavy objects compared with sedentary job (reference group of the estimations), other things being equal. Accordingly, the changes in eating habits and the amount of physical activity during leisure time must be the most important contributors to the upward trend in BMI in industrialised countries, but not the changes in the labour market structure.

Substance misuse problems during pregnancy with special emphasis on buprenorphine

Maternal drug abuse during pregnancy endangers the future health and wellbeing of the infant and growing child. On the other hand, via maternal abstinence, these problems would never occur; so the problems would be totally preventable. Buprenorphine is widely used in opioid maintenance treatment as a substitute medication. In Finland, during 2000 s buprenorphine misuse has steadily increased. In 2009 almost one third of clientele of substance treatment units were in treatment because of buprenorphine dependence. At Helsinki Women s Clinic the first child with prenatal buprenorphine exposure was born in 2001. During 1992-2001 in the three capital area maternity hospitals (Women s clinic, Maternity hospital, Jorvi hospital) 524 women were followed at special antenatal clinics due to substance abuse problems. Three control women were drawn from birth register to each case woman and matched for parity and same place and date of the index birth. According to register data mortality rate was 38-fold higher among cases than controls within 6-15 years after index birth. Especially, the risk for violent or accidental death was increased. The women with substance misuse problems had also elevated risk for viral hepatitis and psychiatric morbidity. They were more often reimbursed for psychopharmaceuticals. Disability pensions and rehabilitation allowances were more often granted to cases than controls. In total 626 children were born from these pregnancies. According to register data 38% of these children were placed in out-of-home care as part of child protection services by the age of two years, and half of them by the age of 12 years, the median follow-up time was 5.8 years. The risk for out-of-home care was associated with factors identifiable during the pre- and perinatal period. In 2002-2005 67 pregnant women with buprenorphine dependence were followed up at the Helsinki University Hospital, Department of Obstetrics and Gynecology. Their pregnancies were uneventful. The prematurity rate was similar and there were no more major anomalies compared to the national statistics. The neonates were lighter compared to the national statistics. They were also born in good condition, with no perinatal hypoxia as defined by standard clinical parameters or certain biochemical markers in the cord blood: erythropoietin, S100 and cardiac troponin-t. Almost 80% of newborns developed neonatal abstinence syndrome (NAS) and two third of them needed morphine medication for it. Maternal smoking over ten cigarettes per day aggravated and benzodiazepine use attenuated NAS. An infant s highest urinary norbuprenorphine concentration during their first 3 days of life correlated with the duration of morphine treatment. The average length of infant s hospital stay was 25 days.

Los dominios social y personal del autoconcepto

[Es] El estudio del autoconcepto continúa siendo uno de los grandes retos de la investigación psicológica. Se trata de un campo de investigación muy amplio en el que tanto la dimensión física como la académica han sido objeto de numerosas investigaciones; por el contrario son pocas las investigaciones llevadas a cabo tanto sobre el autoconcepto social como sobre el autoconcepto personal. En este trabajo se informa de dos estudios llevados a cabo con el fin de verificar si los análisis factoriales confirman una estructura multidimensional de tres componentes en el caso del social (la responsabilidad social, la aceptación social y la competencia social) y de cuatro componentes en la del personal: la autorrealización, la honradez, la autonomía, y el ajuste emocional. Los resultados obtenidos a partir de la aplicación de dos cuestionarios elaborados específicamente para medir ambos dominios (APE y AUSO) confirman en buena medida esta estructura; los factores identificados explican un 52,56% y un 41,43%, respectivamente, de la varianza. Por otro lado, los índices de consistencia interna son aceptables en ambos casos: alpha 0.85 en el APE y alpha 0.76 en el AUSO. Se proponen algunos cambios a incorporar en la versión definitiva de ambos cuestionarios.

Análisis de las publicaciones del personal docente e investigador de las facultades españolas de Bellas Artes

8 p.

Modeling the Links between Biodiversity, Ecosystem Services and Human Wellbeing in the Context of Climate Change: Results from an Econometric Analysis on the European Forest Ecosystems

25 p.

La onomástica de las inscripciones romanas del País Vasco. Estructura del nombre personal y estatuto jurídico

Este trabajo se ha desarrollado a partir de la edición de las inscripciones romanas del País Vasco dentro del proyecto PETRAE Hispaniarum (Université Michel de Montaigne-Bordeaux III, Francia).

Incidencia de la participación en el empoderamiento personal y familiar, el poder de agencia y la autogestión comunitaria de un grupo emprendedor liderado por mujeres

En estos últimos tiempos, en los que la desocupación se ha instalado en nuestra sociedad, muchas mujeres han decidido encarar un emprendimiento para generar, aportar y/ o aumentar los ingresos hogareños, motivadas por diversos motivos pero, especialmente, por la falta de trabajo. En esta ocasión realizamos un estudio de caso de un grupo liderado por mujeres que se dedicó a la producción de alimentos en Tandil. Este trabajo se propone analizar la incidencia de la participación de estas mujeres en dicho emprendimiento en el empoderamiento personal y familiar, el poder de agencia y la autogestión comunitaria. La metodología utilizada se basó en entrevistas semi estructuradas y en profundidad a las mujeres integrantes del grupo y a profesionales técnicos que trabajan con el grupo, como también en recolección de información secundaria.

Art and Social Work: an intervention programme for transforming society’s vision to include people with early-onset dementia and Alzheimer’s

This paper presents a program centred on arts and education as tools in social work for the inclusion of people with earlyonset dementia and Alzheimer’s. The objective of the programme is to eradicate the stigma and myths associated with the disease.The program is part of the Junta de Castilla y León and the European Social Fund’s ARS Project (Arte y Salud Alzheimer; Alzheimer’s Art & Health). The programme presents a series of evaluated artistic and educational activities that can be undertaken by people in the early stages of Alzheimer’s disease and that can also be used by caregivers and family when working with this group of people, with the aim of improving their wellbeing, self-esteem and quality of life.

Social Work and theatre: considering intersections

Theatre is a cultural and artistic form that involves a process of communication between creators and is received in a space and time located in the public sphere, which has meant that, over the centuries, it has acted as a space for expression, exchange and debate regarding all manner of ideas, causes and struggles. Implicit within this process are processes of expression, creation and reception, by way of which people demonstrate, analyse and question ways of seeing and understanding life, and ways of being and existing in the world. This gives rise to educational, cultural, social and political potential, which has been endorsed in numerous studies and investigations. In this work, in which theoretical orientation is established through a review of the relevant literature, we consider different intersections that occur between theatre and social work in order to also show that dramatic and theatrical expression offers substantive methodologies for achieving some objectives of social work, particularly in areas such as critical literacy, reflexivity and recognition, awareness raising, social participation, personal and/or community development, ownership of cultural capital and access to personal and social wellbeing.

Leopoldo Panero and his antology of the Spanish American Poetry. A “personal” reading of America

El presente artículo trata de ofrecer una lectura estética y política de la Antología de la poesía hispanoamericana que publicara Leopoldo Panero entre 1944 y 1945 bajo protección gubernamental. Para ello se parte de la particular biografía del escritor astorgano, su relación en los años treinta con los poetas hispanoamericanos –especialmente Vallejo y Neruda– y su gira por América ya como supuesto prohombre del régimen franquista en 1949 y 1954. La lectura sistemática de sus prólogos y selección de poetas revela la particular visión de Panero sobre Hispanoamérica, mediatizada por el concepto imperial de Falange pero formulada bajo su propia visión de lo que la lírica americana representa para la lengua castellana. Se sostiene así en estas líneas la tesis de que los postulados de Panero representan, a pesar de todo, una opción mucho más compleja de lo que se suele considerar.