The Exact Discretisation of CARMA Models with Applications in Finance

The problem of estimating a continuous time model using discretely observed data is common in empirical finance. This paper uses recently developed methods of deriving the exact discrete representation for a continuous time ARMA (autoregressive moving average) system of order p, q to consider three popular models in finance. Our results for two benchmark term structure models show that higher order ARMA processes provide a significantly better fit than standard Ornstein-Uhlenbeck processes. We then explore present value models linking stock prices and dividends in the presence of cointegration. Our methods enable us to take account of the fact that the two variables are observed in fundamentally different ways by explicitly modelling the data as mixed stock-flow type, which we then compare with the (more common, but incorrect) treatment of dividends as a stock variable

Internet-based medical education: a realist review of what works, for whom and in what circumstances

http://creativecommons.org/licenses/by/2.0

Development of an online information and support resource for adolescent idiopathic scoliosis patients considering surgery: perspectives of health care providers

<p>Abstract</p> <p>Background</p> <p>Adolescents with idiopathic scoliosis who are considering spinal surgery face a major decision that requires access to in-depth information and support. Unfortunately, most online resources provide incomplete and inconsistent information and minimal social support. The aim of this study was to develop an online information and support resource for adolescent idiopathic scoliosis (AIS) patients considering spinal surgery. Prior to website development, a user-based needs assessment was conducted. The needs assessment involved a total of six focus groups with three stakeholder groups: (1) post-operative AIS patients or surgical candidates (10-18 years) (n = 11), (2) their parents (n = 6) and (3) health care providers (n = 11). This paper reports on the findings from focus groups with health care providers.</p> <p>Methods</p> <p>Focus group methodology was used to invite a range of perspectives and stimulate discussion. During audio-recorded focus groups, an emergent table of website content was presented to participants for assessment of relevance, viability and comprehensiveness in targeting global domains of need. Specifically, effective presentation of content, desired aspects of information and support, and discussions about the value of peer support and the role of health professionals were addressed. Focus group transcripts were then subject to content analysis through a constant comparative review and analysis.</p> <p>Results</p> <p>Two focus groups were held with health care providers, consisting of 5 and 6 members respectively. Clinicians provided their perceptions of the information and support needs of surgical patients and their families and how this information and support should be delivered using internet technology. Health care providers proposed four key suggestions to consider in the development of this online resource: (1) create the website with the target audience in mind; (2) clearly state the purpose of the website and organize website content to support the user; (3) offer a professionally-moderated interactive support component; and (4) ensure accessibility of website information and support by considering the age, gender, reading level and geographic location of potential users.</p> <p>Conclusions</p> <p>Health care providers collectively identified the need for the development of an online information and support resource for adolescents considering surgery for AIS and their families and described the proposed website as a positive and needed adjunct to current clinical care.</p

Unintentional social consequences of disorganised marketing of corporate social responsibility: figurational insights into the oil and gas sector in Africa.

Corporate Social Responsibility (CSR) has become a concept that is widely associated with large transnational corporations (TNCs) and increasingly small and medium sized enterprises (SMEs). The concept is contentious with wide ranging debates about intent and impact, not least from critics who perceive CSR to ostensibly be a marketing tool. Before examining some of the current flaws within CSR, it is important to establish how the concept is being applied

Who settles for less? Subjective dispositions, objective circumstances, and housing satisfaction

In recent years there has been growing interest in individuals’ self-perceptions of their wellbeing on the grounds that these complement well-established objective indicators of welfare. However, individuals’ assessments depend on both objective circumstances and subjective, idiosyncratic dispositions, such as aspirations and expectations. We add to the literature by formulating a modelling strategy that uncovers how these subjective dispositions differ across socio-demographic groups. This is then tested using housing satisfaction data from a large-scale household panel survey from Australia. We find that there are significant differences in the way in which individuals with different characteristics rate the same objective reality. For instance, male, older, migrant, and Indigenous individuals rate equal housing conditions more favourably than female, younger, Australian-born, and non-Indigenous individuals. These findings have important implications for how self-reported housing satisfaction, and wellbeing data in general, are to be used to inform evidence-based policy

The Caravan Rolls On

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/68409/2/10.1177_107554707900100103.pd

Neural adaptations to electrical stimulation strength training

This review provides evidence for the hypothesis that electrostimulation strength training (EST) increases the force of a maximal voluntary contraction (MVC) through neural adaptations in healthy skeletal muscle. Although electrical stimulation and voluntary effort activate muscle differently, there is substantial evidence to suggest that EST modifies the excitability of specific neural paths and such adaptations contribute to the increases in MVC force. Similar to strength training with voluntary contractions, EST increases MVC force after only a few sessions with some changes in muscle biochemistry but without overt muscle hypertrophy. There is some mixed evidence for spinal neural adaptations in the form of an increase in the amplitude of the interpolated twitch and in the amplitude of the volitional wave, with less evidence for changes in spinal excitability. Cross-sectional and exercise studies also suggest that the barrage of sensory and nociceptive inputs acts at the cortical level and can modify the motor cortical output and interhemispheric paths. The data suggest that neural adaptations mediate initial increases in MVC force after short-term EST

Which aspects of the open science agenda are most relevant to scientometric research and publishing? An opinion paper

© 2021 The Authors. Published by MIT Press. This is an open access article available under a Creative Commons licence. The published version can be accessed at the following link on the publisher’s website: https://doi.org/10.1162/qss_e_00121Open Science is an umbrella term that encompasses many recommendations for possible changes in research practices, management, and publishing with the objective to increase transparency and accessibility. This has become an important science policy issue that all disciplines should consider. Many Open Science recommendations may be valuable for the further development of research and publishing but not all are relevant to all fields. This opinion paper considers the aspects of Open Science that are most relevant for scientometricians, discussing how they can be usefully applied.The work of R.G. was supported by the Flemish Government through its funding of the Flemish Centre for R&D Monitoring (ECOOM

Who Said or What Said? Estimating Ideological Bias in Views Among Economists

There exists a long-standing debate about the influence of ideology in economics. Surprisingly, however, there is no concrete empirical evidence to examine this critical issue. Using an online randomized controlled experiment involving economists in 19 countries, we examine the effect of ideological bias on views among economists. Participants were asked to evaluate statements from prominent economists on different topics, while source attribution for each statement was randomized without participants’ knowledge. For each statement, participants either received a mainstream source, an ideologically different less-/non-mainstream source, or no source. We find that changing source attributions from mainstream to less-/non-mainstream, or removing them, significantly reduces economists’ reported agreement with statements. Using a model of Bayesian updating we examine two competing hypotheses as potential explanations for these results: unbiased Bayesian updating versus ideologically-biased Bayesian updating. While we find no evidence in support of unbiased updating, our results are consistent with biased Bayesian updating. More specifically, we find that changing/removing sources (1) has no impact on economists’ reported confidence with their evaluations; (2) similarly affects experts/non-experts in relevant areas; and (3) affects those at the far right of the political spectrum much more significantly than those at the far left. Finally, we find significant heterogeneity in our results by gender, country, PhD completion country, research area, and undergraduate major, with patterns consistent with the existence of ideological bias