Female participation in African labor markets: The role of information and communication technologies

This article investigates the effects of information and communication technologies (ICT) on female labor force participation in a sample of 48 African countries. We specify and estimate linear regression and dynamic panel data models with fixed effects (FE) and system-generalized method of moments (SYS-GMM) estimation over the period 2001–2017. The three main results are that ICT use (mobile phone and internet) significantly stimulates female labor force participation in Africa; this effect is enhanced by financial development and female education; the effect of ICT on female employment in Africa is strongest in the industrial sector. These results remain robust to the provision of social, cultural, and institutional variables.     

A simplified pricing model for volatility futures

We develop a general model to price VIX futures contracts. The model is adapted to test both the constant elasticity of variance (CEV) and the Cox–Ingersoll–Ross formulations, with and without jumps. Empirical tests on VIX futures prices provide out‐of‐sample estimates within 2% of the actual futures price for almost all futures maturities. We show that although jumps are present in the data, the models with jumps do not typically outperform the others; in particular, we demonstrate the important benefits of the CEV feature in pricing futures contracts. We conclude by examining errors in the model relative to the VIX characteristics. © 2010 Wiley Periodicals, Inc. Jrl Fut Mark 31:307–339, 2011     

SheBelieves,but does she? Complicating white women’s understandings of the postfeminist-neoliberal empowerment discourse

Abstract

Though the academic literature focused on postfeminism, neoliberalism, and the relationship between the two is considerable, there is little exploration of these conjoined discourses as they relate to leisure culture in general, and women’s sporting lives in particular. At the level of lived experience, scholars have yet to empirically examine how women engage and are affected by the empowerment discourse punctuating many aspects of postfeminism. This study uses the U.S. Soccer Federation’s 2015 SheBelieves Campaign as an empirical site for critically examining women’s attitudes toward, and experiences of, issues of empowerment, feminism, and sexism associated with what scholars have labelled the postfeminist-neoliberal moment (McRobbie, 2009 McRobbie, A. (2009). The aftermath of feminism; gender, culture and social change. London, England: Sage. [Google Scholar]; Rottenberg, 2014 Rottenberg, C. (2014). The rise of neoliberal feminism. Cultural Studies, 28(3), 418–437. https://doi.org/10.1080/09502386.2013.857361[Taylor & Francis Online], [Web of Science ®] , [Google Scholar]). Working at the intersection of leisure studies, feminism, and physical cultural studies, this research provides a window into the complicated, and sometimes contradictory, ways women view and experience neoliberal empowerment discourses within and through sporting elements of their leisure lifestyles.     

A dimension-invariant cascade model for VIX futures

We propose a new stochastic volatility model by allowing for a cascading structure of volatility components. The model, under a minor assumption, allows us to add as many components as desired with no additional parameters, effectively defeating the curse of dimensionality often encountered in traditional models. We derive a semi-closed-form solution to the VIX futures price, and find that our six-factor model with only six parameters can closely fit spot VIX and VIX futures prices from 2004 to 2015 and produce out-of-sample pricing errors of magnitudes similar to those of in-sample errors.     

Team Formation and Self-serving Biases

There is extensive evidence which indicates that people learn positively about themselves. We build on this finding to develop a model of team formation. We show that under complete information learning positively about oneself prevents efficient team formation. Agents becoming overconfident tend to ask for an excessive share of the group outcome. Positive learning generates divergence in workers' beliefs and hampers efficient team formation. Interestingly, in a context of incomplete information regarding the partner's ability, extensive learning biases may reduce the divergence in agents' beliefs and facilitate efficient team formation as a result. We apply our model to coauthorship and organizational issues.     

Forecasting aggregate consumers' expenditure in the UK using the DHSY model

The performance of the DHSY model in predicting the growth of aggregate consumers' expenditure in the UK over the period 1985–1988 is examined. The model is applied to four different combinations of consumption variable and data type. Results show, in all cases, the predictive performance of the DHSY model to be poor. However, applied to seasonally adjusted data, an improvement can be achieved by allowing for systematic variation in coefficients. In particular, a variable-coefficient DHSY model displays no tendency to underpredict the growth of total consumers' expenditure and accurately captures the volatility of non-durable expenditure.     

Salaires et mobilité de l'emploi des professionnels de santé dans les milieux urbains du Cameroun

The objective of this study was to analyse the influence of wages on health professionals' job mobility. Based on health professionals data collected in urban areas of Cameroon, a binomial logit model was estimated. Our results show that wages are negatively correlated with the likelihood of health professionals to consider an imminent departure from the current health facility for another job in or outside the health sector. The increase of one unit of the residual potential wage gain decreases the probability to consider a voluntary departure from the current job of 4 per cent to 8 per cent for another job in the health sector or outside. Wage improvement can then be considered as a retention policy of health professionals in their current health facility. This strategy can be used to curb the migration problems of health professionals and strengthen a health system which is already suffering the pangs of the human resource crisis for health. However, this wage improvement strategy expresses the complexity of retention policies for health professionals based on wages in the public sector, as it can induce adverse effects linked to the loss of human resources.     

Information content of cross‐sectional option prices: A comparison of alternative currency option pricing models on the Japanese yen

This article implements a currency option pricing model for the general case of stochastic volatility, stochastic interest rates, and jumps in an attempt to reconcile levels of risk‐neutral skewness and kurtosis with observed option prices on the Japanese yen and to analyze the information content of the cross section of option prices by investigating the hedging and pricing performance of various currency option pricing models. The study makes use of both a method of moments and a more traditional generalized‐least‐squares (GLS) estimation technique, taking advantage of the fact that methods of moments do not specifically require the use of cross‐sectional option prices, whereas GLS does. Results centered around the Asia economic crisis of 1997 and 1998 indicate that the cross section of option prices surprisingly does not appear to contain superior information as the two estimation techniques yield relatively similar results once idiosyncratic differences between them are acknowledged. Extensions of the G. Bakshi, C. Cao, and Z. Chen (1997) results to currencies are also provided. © 2006Wiley Periodicals, Inc. Jrl Fut Mark 26:33–59, 2006     

Dynamics of social factors in technological substitutions

Diffusion models of technological innovations are often based on an epidemic structure which has a good fit to historical data but whose communication assumptions lack explanatory power. They assume a simplified decision process, uniform decision criteria across adopters categories, and a fully interconnected social structure. The objective of this paper is to show that the dynamics of social factors during technological substitutions have significant effects on substitution patterns. The success of a paradigmatic shift is not only a function of technological characteristics but also depends on change agents and many social dynamics. Such complexity requires analysis at several levels of granularity. We start with cognitive processes at the individual level using concepts from cognitive psychology and decision making under uncertainty and then move to interpersonal communications at the aggregate social level. We show that population heterogeneity generates different decision criteria and a social topology which greatly affect perceptions and the formation of expectations. The structure of interpersonal networks also explains how the relevance and credibility of information impact the critical mass dynamics of technology adoption. A more complete model accounting for social interactions provides a useful framework for understanding complex substitution patterns and reducing the risk of misreading the market.