Realized Matrix-Exponential Stochastic Volatility with Asymmetry, Long Memory and Spillovers

The paper develops a novel realized matrix-exponential stochastic volatility model of multivariate returns and realized covariances that incorporates asymmetry and long memory (hereafter the RMESV-ALM model). The matrix exponential transformation guarantees the positivedefiniteness of the dynamic covariance matrix. The contribution of the paper ties in with Robert Basmann’s seminal work in terms of the estimation of highly non-linear model specifications (“Causality tests and observationally equivalent representations of econometric models”, Journal of Econometrics, 1988, 39(1-2), 69–104), especially for developing tests for leverage and spillover effects in the covariance dynamics. Efficient importance sampling is used to maximize the likelihood function of RMESV-ALM, and the finite sample properties of the quasi-maximum likelihood estimator of the parameters are analysed. Using high frequency data for three US financial assets, the new model is estimated and evaluated. The forecasting performance of the new model is compared with a novel dynamic realized matrix-exponential conditional covariance model. The volatility and co-volatility spillovers are examined via the news impact curves and the impulse response functions from returns to volatility and co-volatility.

Hope in the Middle East:malleability beliefs, hope, and the willingness to compromise for peace

The importance of hope has long been asserted in the field of conflict resolution. However, little is actually known about either how to induce hope or what effects hope has on conciliatory attitudes. In the current research, we tested whether (1) hope is based upon beliefs regarding conflict malleability and (2) hope predicts support for concessions for peace. Study 1, a correlational study conducted among Israeli Jews, revealed that malleability beliefs regarding conflicts in general are associated with hope regarding the Israeli–Palestinian conflict as well as with support for concessions. In Study 2, we established causality using an experimental manipulation of beliefs regarding conflicts being malleable (vs. fixed). Findings have both theoretical and practical implications regarding inducing hope in intractable conflicts, thus promoting the attitudes so critical for peacemaking.

Cervical cancer precursors and hormonal contraceptive use in HIV-positive women: application of a causal model and semi-parametric estimation methods.

OBJECTIVE: To demonstrate the application of causal inference methods to observational data in the obstetrics and gynecology field, particularly causal modeling and semi-parametric estimation. BACKGROUND: Human immunodeficiency virus (HIV)-positive women are at increased risk for cervical cancer and its treatable precursors. Determining whether potential risk factors such as hormonal contraception are true causes is critical for informing public health strategies as longevity increases among HIV-positive women in developing countries. METHODS: We developed a causal model of the factors related to combined oral contraceptive (COC) use and cervical intraepithelial neoplasia 2 or greater (CIN2+) and modified the model to fit the observed data, drawn from women in a cervical cancer screening program at HIV clinics in Kenya. Assumptions required for substantiation of a causal relationship were assessed. We estimated the population-level association using semi-parametric methods: g-computation, inverse probability of treatment weighting, and targeted maximum likelihood estimation. RESULTS: We identified 2 plausible causal paths from COC use to CIN2+: via HPV infection and via increased disease progression. Study data enabled estimation of the latter only with strong assumptions of no unmeasured confounding. Of 2,519 women under 50 screened per protocol, 219 (8.7%) were diagnosed with CIN2+. Marginal modeling suggested a 2.9% (95% confidence interval 0.1%, 6.9%) increase in prevalence of CIN2+ if all women under 50 were exposed to COC; the significance of this association was sensitive to method of estimation and exposure misclassification. CONCLUSION: Use of causal modeling enabled clear representation of the causal relationship of interest and the assumptions required to estimate that relationship from the observed data. Semi-parametric estimation methods provided flexibility and reduced reliance on correct model form. Although selected results suggest an increased prevalence of CIN2+ associated with COC, evidence is insufficient to conclude causality. Priority areas for future studies to better satisfy causal criteria are identified.

Food Swamps, Obesity & Health Zoning Restrictions on Fast Food Restaurants

Protecting public health is the most legitimate use of zoning, and yet there is minimal progress in applying it to the obesity problem. Zoning could potentially be used to address both unhealthy and healthy food retailers, but lack of evidence regarding the impact of zoning and public opinion on zoning changes are barriers to implementing zoning restrictions on fast food on a larger scale. My dissertation addresses these gaps in our understanding of health zoning as a policy option for altering built, food environments.

Chapter 1 examines the relationship between food swamps and obesity and whether spatial mapping might be useful in identifying priority geographic areas for zoning interventions. I employ an instrumental variables (IV) strategy to correct for the endogeneity problems associated with food environments, namely that individuals may self-select into certain neighborhoods and may consider food availability in their decision process. I utilize highway exits as a source of exogenous variation .Using secondary data from the USDA Food Environment Atlas, ordinary least squares (OLS) and IV regression models were employed to analyze cross-sectional associations between local food environments and the prevalence of obesity. I find even after controlling for food desert effects, food swamps have a positive, statistically significant effect on adult obesity rates.

Chapter 2 applies theories of message framing and prospect theory to the emerging discussion around health zoning policies targeting food environments and to explore public opinion toward a list of potential zoning restrictions on fast-food restaurants (beyond moratoriums on new establishments). In order to explore causality, I employ an online survey experiment manipulating exposure to vignettes with different message frames about health zoning restrictions with two national samples of adult Americans age 18 and over (N1=2,768 and N2=3,236). The second sample oversamples Black Americans (N=1,000) and individuals with high school as their highest level of education. Respondents were randomly assigned to one of six conditions where they were primed with different message frames about the benefits of zoning restrictions on fast food retailers. Participants were then asked to indicate their support for six zoning policies on a Likert scale. Subjects also answered questions about their food store access, eating behaviors, health status and perceptions of food stores by type.

I find that a message frame about Nutrition and increasing Equity in the food system was particularly effective at increasing support for health zoning policies targeting fast food outlets across policy categories (Conditional, Youth-related, Performance and Incentive) and across racial groups. This finding is consistent with an influential environmental justice scholar’s description of “injustice frames” as effective in mobilizing supporters around environmental issues (Taylor 2000). I extend this rationale to food environment obesity prevention efforts and identify Nutrition combined with Equity frames as an arguably universal campaign strategy for bolstering public support of zoning restrictions on fast food retailers.

Bridging my findings from both Chapters 1 and 2, using food swamps as a spatial metaphor may work to identify priority areas for policy intervention, but only if there is an equitable distribution of resources and mobilization efforts to improve consumer food environments. If the structural forces which ration access to land-use planning persist (arguably including the media as gatekeepers to information and producers of message frames) disparities in obesity are likely to widen.

Essays on Firm Heterogeneity with Empirical Applications in Economic History and Agricultural Economics

This thesis uses models of firm-heterogeneity to complete empirical analyses in economic history and agricultural economics. In Chapter 2, a theoretical model of firm heterogeneity is used to derive a statistic that summarizes the welfare gains from the introduction of a new technology. The empirical application considers the use of mechanical steam power in the Canadian manufacturing sector during the late nineteenth century. I exploit exogenous variation in geography to estimate several parameters of the model. My results indicate that the use of steam power resulted in a 15.1 percent increase in firm-level productivity and a 3.0-5.2 percent increase in aggregate welfare. Chapter 3 considers various policy alternatives to price ceiling legislation in the market for production quotas in the dairy farming sector in Quebec. I develop a dynamic model of the demand for quotas with farmers that are heterogeneous in their marginal cost of milk production. The econometric analysis uses farm-level data and estimates a parameter of the theoretical model that is required for the counterfactual experiments. The results indicate that the price of quotas could be reduced to the ceiling price through a 4.16 percent expansion of the aggregate supply of quotas, or through moderate trade liberalization of Canadian dairy products. In Chapter 4, I study the relationship between farm-level productivity and participation in the Commercial Export Milk (CEM) program. I use a difference-in-difference research design with inverse propensity weights to test for causality between participation in the CEM program and total factor productivity (TFP). I find a positive correlation between participation in the CEM program and TFP, however I find no statistically significant evidence that the CEM program affected TFP.

The Causal Links between FDI and Economic Growth in Developing Countries: A Case Study of the Republic of Rwanda

The study examines the short-run and long-run causality running from real economic growth to real foreign direct investment inflows (RFDI). Other variables such as education (involving combination of primary, secondary and tertiary enrolment as a proxy to education), real development finance, unskilled labour, to real RFDI inflows are included in the study. The time series data covering the period of 1983 -2013 are examined. First, I applied Augmented Dicky-Fuller (ADF) technique to test for unit root in variables. Findings shows all variables integrated of order one [I(1)]. Thereafter, Johansen Co-integration Test (JCT) was conducted to establish the relationship among variables. Both trace and maximum Eigen value at 5% level of significance indicate 3 co-integrated equations. Vector error correction method (VECM) was applied to capture short and long-run causality running from education, economic growth, real development finance, and unskilled labour to real foreign direct investment inflows in the Republic of Rwanda. Findings shows no short-run causality running from education, real development finance, real GDP and unskilled labour to real FDI inflows, however there were existence of long-run causality. This can be interpreted that, in the short-run; education, development finance, finance and economic growth does not influence inflows of foreign direct investment in Rwanda; but it does in long-run. From the policy perspective, the Republic of Rwanda should focus more on long term goal of investing in education to improve human capital, undertake policy reforms that promotes economic growth, in addition to promoting good governance to attract development finance – especially from Nordics countries (particularly Norway and Denmark).

Social economy, youth and employment

Organizations of the Social Economy in Spain accounted for 13% of employment and 12% of GDP in 2013, according to the Spanish Confederation fo Social Economy. Also, according to various institutions and studies, the role of Social Economy has become relevant due to they represent a model promoting the creation of collective business projects with greater sustainability and potential than models of individual self-employment. However, despite all this, there are few academic studies or sectoral reports analyzing employment in this sector, especially in the case of youth employment. This study aims to fill this gap in the literature analyzing the scared available data in order to show the numbers and characteristics of youth employment in this sector. Results show the weight of youth employment in the Social Economy is higher than the economy overall.

La ciencia de los principios y de las causas primeras en el libro primero de la Metafísica

En este trabajo se presenta la concepción aristotélica de la filosofía primera como ciencia de los principios y de las causas primeras según el libro primero de la Metafísica. Para ello, se distinguen tres momentos sucesivos que constituyen el análisis de la naturaleza y la meta que debe alcanzar esta ciencia: 1) la concepción de la sabiduría como ciencia que se ocupa de ciertos principios y causas; 2) la sabiduría como ciencia de los primeros principios y de las causas; 3) la determinación de las cuatro causas primeras como tarea de la filosofía primera. De este modo, se pretende mostrar que la Metafísica de Aristóteles es un intento para explicar las últimas cuestiones, el último porqué, indicando cuatro géneros diferentes de respuesta.

On the Nature of Temporal Variability of the Gulf Stream Path from 75° to 55°W

The response of the Gulf Stream (GS) system to atmospheric forcing is generally linked either to the basin-scale winds on the subtropical gyre or to the buoyancy forcing from the Labrador Sea. This study presents a multiscale synergistic perspective to describe the low-frequency response of the GS system. The authors identify dominant temporal variability in the North Atlantic Oscillation (NAO), in known indices of the GS path, and in the observed GS latitudes along its path derived from sea surface height (SSH) contours over the period 1993-2013. The analysis suggests that the signature of interannual variability changes along the stream's path from 75 degrees to 55 degrees W. From its separation at Cape Hatteras to the west of 65 degrees W, the variability of the GS is mainly in the near-decadal (7-10 years) band, which is missing to the east of 60 degrees W, where a new interannual (4-5 years) band peaks. The latter peak (4-5 years) was missing to the west of 65 degrees W. The region between 65 degrees and 60 degrees W seems to be a transition region. A 2-3-yr secondary peak was pervasive in all time series, including that for the NAO. This multiscale response of the GS system is supported by results from a basin-scale North Atlantic model. The near-decadal response can be attributed to similar forcing periods in the NAO signal; however, the interannual variability of 4-5 years in the eastern segment of the GS path is as yet unexplained. More numerical and observational studies are warranted to understand such causality.

On the Nature of Temporal Variability of the Gulf Stream Path from 75° to 55°W

The response of the Gulf Stream (GS) system to atmospheric forcing is generally linked either to the basin-scale winds on the subtropical gyre or to the buoyancy forcing from the Labrador Sea. This study presents a multiscale synergistic perspective to describe the low-frequency response of the GS system. The authors identify dominant temporal variability in the North Atlantic Oscillation (NAO), in known indices of the GS path, and in the observed GS latitudes along its path derived from sea surface height (SSH) contours over the period 1993-2013. The analysis suggests that the signature of interannual variability changes along the stream's path from 75 degrees to 55 degrees W. From its separation at Cape Hatteras to the west of 65 degrees W, the variability of the GS is mainly in the near-decadal (7-10 years) band, which is missing to the east of 60 degrees W, where a new interannual (4-5 years) band peaks. The latter peak (4-5 years) was missing to the west of 65 degrees W. The region between 65 degrees and 60 degrees W seems to be a transition region. A 2-3-yr secondary peak was pervasive in all time series, including that for the NAO. This multiscale response of the GS system is supported by results from a basin-scale North Atlantic model. The near-decadal response can be attributed to similar forcing periods in the NAO signal; however, the interannual variability of 4-5 years in the eastern segment of the GS path is as yet unexplained. More numerical and observational studies are warranted to understand such causality.

Diabolical Witches or Sinful Princes? “Political” Foundations of Demonological Skepticism in the Early Modern Period

Skepticism regarding witchcraft, characteristic (but not exclusive) of the Spanish lands, corresponds with a particular view of evil’s etiology. Whereas paradigmatic texts of radical demonology, as the Malleus Maleficarum, gave a conclusive step towards the demonization of natural evil (as they put the blame on the devil and the witches for calamities and plagues), texts of Castilian origin, as Alonso de Espina’s Fortalitium fidei, embraced the traditional position: they considered the devil as a promoter of moral evil in the world, meanwhile natural evil is seen as a result of the wrath of God for the sins of His people –particularly, the sin of Christian princes. I argue that the distinction between these two ways of thinking the causality of the world’s misfortunes can be read in political terms.

Les verbes causatifs dans les textes scientifiques : essai de typologie

La causalité est une des notions les plus fondamentales de la vie humaine. La vulgarisation scientifique se base sur l’établissement fréquent de relations causales par le truchement d'indices linguistiques. Ainsi, la causalité y est perceptible à l'aide de marques explicites, se manifestant au niveau lexical. Dans de nombreuses situations, afin de valider la relation causale, il faut récupérer des termes plus ou moins explicites qui apparaissent au niveau morphosyntaxique. Viennent enfin les procédés implicites d’expression de la cause ou "la causalité non marquée" linguistiquement.  

Qualitative Comparative Analysis as a Tool for Concept Clarification, Typology Building, and Contextualized Comparisons in Gender and Feminist Research

Qualitative Comparative Analysis (QCA) is a method for the systematic analysis of cases. A holistic view of cases and an approach to causality emphasizing complexity are some of its core features. Over the last decades, QCA has found application in many fields of the social sciences. In spite of this, its use in feminist research has been slower, and only recently QCA has been applied to topics related to social care, the political representation of women, and reproductive politics. In spite of the comparative turn in feminist studies, researchers still privilege qualitative methods, in particular case studies, and are often skeptical of quantitative techniques (Spierings 2012). These studies show that the meaning and measurement of many gender concepts differ across countries and that the factors leading to feminist success and failure are context specific. However, case study analyses struggle to systematically account for the ways in which these forces operate in different locations.

Analysis of the Bovespa Futures and Spot Indexes With High Frequency Data. Chinese Business Review

Data from the World Federation of Exchanges show that Brazil’s Sao Paulo stock exchange is one of the largest worldwide in terms of market value. Thus, the objective of this study is to obtain univariate and bivariate forecasting models based on intraday data from the futures and spot markets of the BOVESPA index. The interest is to verify if there exist arbitrage opportunities in Brazilian financial market. To this end, three econometric forecasting models were built: ARFIMA, vector autoregressive (VAR), and vector error correction (VEC). Furthermore, it presents the results of a Granger causality test for the aforementioned series. This type of study shows that it is important to identify arbitrage opportunities in financial markets and, in particular, in the application of these models on data of this nature. In terms of the forecasts made with these models, VEC showed better results. The causality test shows that futures BOVESPA index Granger causes spot BOVESPA index. This result may indicate arbitrage opportunities in Brazil.