Integrating parametric and non-parametric multivariate analysis of urban growth and commuting patterns in a European metropolitan area

Quality & Quantity - Mono-centric regions have experienced a progressive transformation towards polycentric structures. Transition to discontinuous and dispersed spatial configurations was...     

Estimating panel data models in the presence of endogeneity and selection

We consider estimation of panel data models with sample selection when the equation of interest contains endogenous explanatory variables as well as unobserved heterogeneity. Assuming that appropriate instruments are available, we propose several tests for selection bias and two estimation procedures that correct for selection in the presence of endogenous regressors. The tests are based on the fixed effects two-stage least squares estimator, thereby permitting arbitrary correlation between unobserved heterogeneity and explanatory variables. The first correction procedure is parametric and is valid under the assumption that the errors in the selection equation are normally distributed. The second procedure estimates the model parameters semiparametrically using series estimators. In the proposed testing and correction procedures, the error terms may be heterogeneously distributed and serially dependent in both selection and primary equations. Because these methods allow for a rather flexible structure of the error variance and do not impose any nonstandard assumptions on the conditional distributions of explanatory variables, they provide a useful alternative to the existing approaches presented in the literature.     

Leadership, civility, and the 'No Jerks' rule

Nursing organizations and hospitals are not immune from the ravages of incivility. Toxic behavior can range from the very serious bullying and sabotage of very destructive people to the annoying and hard to cope behavior of just plain jerks. When a unit does not have a clearly defined "No Jerk" rule and infrastructure to support healthy behavior, communication suffers and errors occur. Nurse leaders have the opportunity of changing the self-interest behavior of jerks in our communities of caring.     

Wechselwirkungen von Finanzkrise und Rechnungslegung

Praxis / MagazinTermine

Termine     

The global LeChatelier Principle and multimarket equilibria

LeChatelier (Comptes Rendus 99:786, 1884) and LeChatelier (Ann Mines 13(2):157, 1888) proposed that the adjustment of a physical system to a disturbance in its equilibrium was smaller as constraints are added to the adjustment process. Samuelson (Econometrica 28:368–379, 1960) showed that this Principle applied to a stable multimarket equilibrium for the case that all commodities are gross substitutes. We note that the Principle also applies to the stable equilibria of markets for which commodities can also be gross complements as formulated by Morishima (Osaka Econ Pap 1:101–113, 1952). Further, the Morishima and gross substitute cases are the only cases to which the Principle can apply, based only upon the stability hypothesis and a specification of the gross substitute/complement relations among commodities. We show that the Milgrom and Shannon (Econometrica 62:157–180, 1994) single crossing conditions specified for monotone comparative statics can be configured appropriate to the Morishima case to give global conditions for the LeChatelier Principle to apply to a multimarket equilibrium.     

Courage, leadership, and end-of-life care: when courage counts

As leaders, we must feel a sense of moral obligation to implement evidence about end-of-life care in our practice setting. Nurse leaders can help patients and families orchestrate a beautiful experience that is an alternative to futile, expensive end-of-life care. Preparation is key in helping staff provide the best level of care. A plan built around the best care for patients can integrate with many diverse positions and people. Courageous nurse leaders are well adapted to maneuvering through political traps and advocating for patients and their families. Everyone benefits personally and financially, including our communities and nation, when courageous leaders advocate successfully for effective end-of-life care.     

Quasi-maximum likelihood estimation and testing for nonlinear models with endogenous explanatory variables

I propose a quasi-maximum likelihood framework for estimating nonlinear models with continuous or discrete endogenous explanatory variables. Joint and two-step estimation procedures are considered. The joint procedure is a quasi-limited information maximum likelihood procedure, as one or both of the log likelihoods may be misspecified. The two-step control function approach is computationally simple and leads to straightforward tests of endogeneity. In the case of discrete endogenous explanatory variables, I argue that the control function approach can be applied with generalized residuals to obtain average partial effects. I show how the results apply to nonlinear models for fractional and nonnegative responses.     

Sustainable Development and Resilience in Ecosystems

Two new important developments in environmental and resource economics is presented—non convex dynamics of ecosystems and wealth as an indicator of sustainable development. Non convex dynamics imply existence of resilience, that is the robustness of systems to withstand exogenous perturbations. Resilience can be regarded as an insurance against flips of the system into different basins of stability. Sustainable development, according to the Bruntland report, is the provision of productive resources to future generations to make it possible for them to live as well as the present generation. Thus, the value of changes in productive assets is therefore an index of whether an economy is on a sustainable path or not. Resilience can be regarded as one such productive asset and the paper discusses how one can define the value of this asset.