The determinants of Spanish language proficiency among immigrants in Spain

This article uses micro-data from the Spanish National Immigrant Survey (Encuesta Nacional de Inmigrantes-ENI in Spanish) carried out in 2007 among immigrants in Spain. In recent years, Spain has received unprecedented immigration flows. A substantial number of immigrants cannot communicate adequately in the language of the country to which they immigrate. Among the multiple reasons for the lack of host language proficiency one can distinguish factors such as a low level of educational attainment, not having been provided with adequate opportunities to learn the host language, living in ethnic enclaves or having arrived at an older age. Language skills (including oral and written ability) play a crucial role in the determination of the immigrants’ social and economic integration in the host country. As a consequence, analyzing the source of foreign language acquisition is crucial for understanding the immigrants’ economic, social and political involvement. The results show that an increase in educational attainment is associated with a higher level of Spanish spoken proficiency. Language ability is also associated with the country or region of origin. The results show that immigrant men and women from the Maghreb and Asia, as well as men from Eastern Europe and Sub Saharan Africa show a significantly weaker command over spoken Spanish than Western Europeans.N/

The shadow value of employer-provided training

This paper adopts an equivalent income approach to calculate the economic value of training activities for workers. Using econometric regression analysis of individual self-reported job satisfaction (JS) and data from the European Community Household Panel dataset (ECHP), the paper shows that employer-provided training exerts a positive and significant effect on JS. On average, this effect is equivalent to a 17.7% increase in labour earnings. Boes and Winkelmann’s (2009) Generalized Ordered Probit for panel data is used to show that the determinants of JS as well as the equivalent income of training differ across the JS distribution.N/

Remembering as a mental action

Many philosophers consider that memory is just a passive information retention and retrieval capacity. Some information and experiences are encoded, stored, and subsequently retrieved in a passive way, without any control or intervention on the subject’s part. In this paper, we will defend an active account of memory according to which remembering is a mental action and not merely a passive mental event. According to the reconstructive account, memory is an imaginative reconstruction of past experience. A key feature of the reconstructive account is that given the imperfect character of memory outputs, some kind of control is needed. Metacognition is the control of mental processes and dispositions. Drawing from recent work on the normativity of automaticity and automatic control, we distinguish two kinds of metacognitive control: top-down, reflective control, on the one hand, and automatic, intuitive, feeling-based control on the other. Thus, we propose that whenever the mental process of remembering is controlled by means of intuitive or feeling-based metacognitive processes, it is an action

Capital adequacy tests and limited liability of financial institutions

The theory of acceptance sets and their associated risk measures plays a key role in the design of capital adequacy tests. The objective of this paper is to investigate, in the context of bounded financial positions, the class of surplus-invariant acceptance sets. These are characterized by the fact that acceptability does not depend on the positive part, or surplus, of a capital position. We argue that surplus invariance is a reasonable requirement from a regulatory perspective, because it focuses on the interests of liability holders of a financial institution. We provide a dual characterization of surplus-invariant, convex acceptance sets, and show that the combination of surplus invariance and coherence leads to a narrow range of capital adequacy tests, essentially limited to scenario-based tests. Finally, we emphasize the advantages of dealing with surplus-invariant acceptance sets as the primary object rather than directly with risk measures, such as loss-based and excess-invariant risk measures, which have been recently studied by Cont, Deguest, and He (2013) and by Staum (2013), respectively