Within- and between-firm mobility in the low-wage labour market

Wage mobility among low wage earners has previously been focussing on the characteristics of the low wage earners, whereas the role of the firm has been neglected. The purpose of this study is to focus on the characteristics of the firms when analysing variation in wage mobility. The empirical findings confirm that the characteristics of the employing firm indeed matter for low-wage employees´ likelihood of escaping a low-wage job. Especially does the employing firm affect the destination state – i.e. where a low-wage worker goes after having finished a low-wage job, and the findings enable me to identify three types of firms: career firms with high within-firm upward wage mobility, stepping-stone firms with high between-firm upward wage mobility and dead-end firms with low upward wage mobility.Low wage earners; wage mobility; firm behaviour; employer-employee relations

The Heston stochastic volatility model in Hilbert space

We extend the Heston stochastic volatility model to a Hilbert space framework. The tensor Heston stochastic variance process is defined as a tensor product of a Hilbert-valued Ornstein-Uhlenbeck process with itself. The volatility process is then defined by a Cholesky decomposition of the variance process. We define a Hilbert-valued Ornstein-Uhlenbeck process with Wiener noise perturbed by this stochastic volatility, and compute the characteristic functional and covariance operator of this process. This process is then applied to the modelling of forward curves in energy markets. Finally, we compute the dynamics of the tensor Heston volatility model when the generator is bounded, and study its projection down to the real line for comparison with the classical Heston dynamics

Pricing mortgages: an options approach

Mortgages ; Options (Finance) ; Prices

Very Late Thermal Pulses Influenced by Accretion in Planetary Nebulae

We consider the possibility that a mass of ~10^{-5}-10^{-3} Msun flows back from the dense shell of planetary nebulae and is accreted by the central star during the planetary nebula phase. This backflowing mass is expected to have a significant specific angular momentum even in (rare) spherical planetary nebulae, such that a transient accretion disk might be formed. This mass might influence the occurrence and properties of a very late thermal pulse (VLTP), and might even trigger it. For example, the rapidly rotating outer layer, and the disk if still exist, might lead to axisymmetrical mass ejection by the VLTP. Unstable burning of accreted hydrogen might result in a mild flash of the hydrogen shell, also accompanied by axisymmetrical ejection.Comment: Submitted to New Astronom

Pricing debt instruments: the options approach

Options (Finance)

Circinus X-1: survivor of a highly asymmetric supernova

We have analyzed the kinematical parameters of Cir X-1 to constrain the nature of its companion star, the eccentricity of the binary and the pre-supernova parameter space. We argue that the companion is most likely to be a low-mass (< 2.0 M_sun) unevolved star and that the eccentricity of the orbit is 0.94 +/- 0.04. We have evaluated the dynamical effects of the supernova explosion and we find it must have been asymmetric. On average, we find that a kick of 740 km/s is needed to account for the recently measured radial velocity of +430 km/s (Johnston, Fender & Wu) for this extreme system. The corresponding minimum kick velocity is 500 km/s. This is the largest kick needed to explain the motion of any observed binary system. If Cir X-1 is associated with the supernova remnant G321.9-0.3 then we find a limiting minimum age of this remnant of 60000 yr. Furthermore, we predict that the companion star has lost 10% of its mass as a result of stripping and ablation from the impact of the supernova shell shortly after the explosion.Comment: 6 pages, 3 figues, 2 tables, accepted for publication in MNRA

Reflexiones críticas sobre modelos matemáticos en la clase: ¿sueño o realidad?

Sobre la base de dos casos de modelos matemáticos aplicados a problemas auténticos, sugeriré algunas consecuencias de usar las matemáticas. Para ver si las reflexiones sobre estos asuntos se pueden introducir en el aula observé algunos cursos de modelado en escuelas danesas de educación superior. Encontré que las reflexiones eran realizadas en unas pocas circunstancias aisladas, y que generalmente estaban separadas de la actividad de modelaje de los estudiantes. Sin embargo, observé algunas diferencias interesantes entre dos de los cursos. En uno, las experiencias a partir del modelaje estaban en alguna medida influyendo las reflexiones que los estudiantes adelantaban. En el otro, las reflexiones sobre modelos eran claramente opuestas tanto al modelaje como a la actividad matemática de los estudiantes -opuesta en contenido lo mismo que como tipo de discurso

Temperature and gravity of the pulsating extreme helium star LSS 3184 (BX Cir) through its pulsation cycle

We report the analysis of optical spectra of the extreme helium star LSS 3184 (BX Cir) to determine its effective temperature and gravity throughout its pulsation cycle. The spectra were also used to measure its chemical abundances. We report rest gravity, log g = 3.38 +/- 0.02, and a chemical abundance mixture consistent with those reported earlier in a study using an optical spectrum with lower spectral resolution and a lower signal to noise ratio. Our analysis decreases the upper limit for the H abundance to H < 6.0 (mass fraction < 7.1 x 10^-7). Our gravity corresponds to stellar mass M = 0.47 +/- 0.03 M_sun. We find that the effective log g varies through the pulsation cycle with an amplitude of 0.28 dex. The effective gravity is smaller than the rest gravity except when the star is very near its minimum radius. The change in effective gravity is primarily caused by acceleration of the stellar surface. Based on the optical spectra, we find the temperature varies with an amplitude of 3450 K. We find a time averaged mean temperature, 23390 +/- 90 K, consistent with that found in the earlier optical spectrum study. The mean temperature is 1750 K hotter than that found using combined ultraviolet spectra and V and R photometry and the variation amplitude is larger. This discrepancy is similar to that found for the extreme helium star V652 Her.Comment: 7 pages, 6 figures, LaTeX, to be published in A&

Humanitarian Visas: Option or obligation?. CEPS Liberty and Security in Europe No. 68, 27 October 2014

Third-country nationals seeking protection have no EU-wide legal channels at present for entering EU territory and triggering protection mechanisms under the Common European Asylum System. As a result, many embark on hazardous journeys, with concomitant risks and loss of human life. The absence of ‘protection-sensitive’ mechanisms for accessing EU territory, along with EU external and extraterritorial border and migration management and control, undermine Member States' refugee and human rights obligations. Humanitarian visas may offer a remedy in this regard by enabling third-country nationals to apply in situ for entry to EU territory on humanitarian grounds or because of international obligations. This study asks whether the existing Visa Code actually obliges Member States to issue humanitarian visas. It also examines past implementation of humanitarian visa schemes by Member States and considers whether more could be done to encourage them to make use of existing provisions in EU law. Finally, with a Commission proposal for Visa Code reform on the table, it asks whether there is now an opportunity to lay down clear rules for humanitarian visa schemes