The Decision of Work and Study and Employment Outcomes

The paper studies factors that contribute to student's work study decision while attending postsecondary institutions using SLID and YITS data. It further tests that how the work decision can affect their future employment outcomes.postsecondary eduction;labour supply decisions;return to schooling

Tail Asymptotics of Deflated Risks

Random deflated risk models have been considered in recent literatures. In this paper, we investigate second-order tail behavior of the deflated risk X=RS under the assumptions of second-order regular variation on the survival functions of the risk R and the deflator S. Our findings are applied to approximation of Value at Risk, estimation of small tail probability under random deflation and tail asymptotics of aggregated deflated riskComment: 2

Inference for a Special Bilinear Time Series Model

It is well known that estimating bilinear models is quite challenging. Many different ideas have been proposed to solve this problem. However, there is not a simple way to do inference even for its simple cases. This paper studies the special bilinear model $$Y_t=\mu+\phi Y_{t-2}+ bY_{t-2}\varepsilon_{t-1}+ \varepsilon_t,$$ where $\{\varepsilon_t\}$ is a sequence of i.i.d. random variables with mean zero. We first give a sufficient condition for the existence of a unique stationary solution for the model and then propose a GARCH-type maximum likelihood estimator for estimating the unknown parameters. It is shown that the GMLE is consistent and asymptotically normal under only finite fourth moment of errors. Also a simple consistent estimator for the asymptotic covariance is provided. A simulation study confirms the good finite sample performance. Our estimation approach is novel and nonstandard and it may provide a new insight for future research in this direction.Comment: 23 pages, 1 figures, 3 table

Holographic Butterfly Effect at Quantum Critical Points

When the Lyapunov exponent $\lambda_L$ in a quantum chaotic system saturates the bound $\lambda_L\leqslant 2\pi k_BT$, it is proposed that this system has a holographic dual described by a gravity theory. In particular, the butterfly effect as a prominent phenomenon of chaos can ubiquitously exist in a black hole system characterized by a shockwave solution near the horizon. In this paper we propose that the butterfly velocity can be used to diagnose quantum phase transition (QPT) in holographic theories. We provide evidences for this proposal with an anisotropic holographic model exhibiting metal-insulator transitions (MIT), in which the derivatives of the butterfly velocity with respect to system parameters characterizes quantum critical points (QCP) with local extremes in zero temperature limit. We also point out that this proposal can be tested by experiments in the light of recent progress on the measurement of out-of-time-order correlation function (OTOC).Comment: 7 figures, 15 page