The variance targeting estimator (VTE) for generalized autoregressive conditionally heteroskedastic (GARCH) processes has been proposed as a computationally simpler and misspecification-robust alternative to the quasi-maximum likelihood estimator (QMLE). In this paper we investigate the asymptotic behavior of the VTE when the stationary distribution of the GARCH process has infinite fourth moment. Existing studies of historical asset returns indicate that this may be a case of empirical relevance. Under suitable technical conditions, we establish a stable limit theory for the VTE, with the rate of convergence determined by the tails of the stationary distribution. This rate is slower than that achieved by the QMLE. The limit distribution of the VTE is nondegenerate but singular. We investigate the use of subsampling techniques for inference, but find that finite sample performance is poor in empirically relevant scenarios.
The purpose of this paper is to provide a selected bibliography of recent resources on library instruction and information literacy.
The paper introduces and annotates periodical articles, monographs, and audiovisual material examining library instruction and information literacy.
Information is provided about each source, and the paper discusses the characteristics of current scholarship, and describes sources that contain unique scholarly contributions and quality reproductions.
The information may be used by librarians and interested parties as a quick reference to literature on library instruction and information literacy.
Even more than 50 years after the Civil Rights Act of 1964 prohibited discrimination toward a number of groups in employment settings in the United States, workplace…
Even more than 50 years after the Civil Rights Act of 1964 prohibited discrimination toward a number of groups in employment settings in the United States, workplace discrimination remains a persistent problem in organizations. This chapter provides a comprehensive review and analysis of contemporary theory and evidence on the nature, causes, and consequences of discrimination before synthesizing potential methods for its reduction. We note the strengths and weaknesses of this scholarship and highlight meaningful future directions. In so doing, we hope to both inform and inspire organizational and scholarly efforts to understand and eliminate workplace discrimination.
Often overlooked in discussions related to how to ensure accessible and affordable high-quality early childhood education is the heavy burden that has been carried by the…
Often overlooked in discussions related to how to ensure accessible and affordable high-quality early childhood education is the heavy burden that has been carried by the early childhood workforce; the data reveal a level of exploitation of this workforce that must be considered and addressed. This chapter will focus attention on the economic realities of the early childhood workforce as a key element to achieve equitable access to affordable high-quality early childhood services.
This paper employs three months of observations sampled at 60‐second intervals to analyzethe behavior of two basket indices from the emerging Athens Stock Exchange: the…
This paper employs three months of observations sampled at 60‐second intervals to analyze the behavior of two basket indices from the emerging Athens Stock Exchange: the General Index of the Main (Listed) Securities Market and the Index of the Secondary (Unlisted) Securities Market. The empirical analysis employs robust regression using dummy variables to uncover a rich variety of time‐of‐day regularities in the first four moments of the distribution of returns, the tail behavior, and the dynamic and cross‐dynamic behavior of the two markets. Markets tend to behave differently during their opening and closing, while results are invariably sensitive to outliers. Overall, the results are comparable to those reported for developed equity markets. However, in contrast to other studies, we find no conclusive evidence of long‐memory in either the mean or variance process. ARMA models of seasonally differenced absolute returns were used as a simple but effective way of dealing with the strong regularity in volatility.
We survey and organize over fifty years of theoretical research on status and expectation state processes. After defining some key terms in this theoretical approach, we…
We survey and organize over fifty years of theoretical research on status and expectation state processes. After defining some key terms in this theoretical approach, we briefly describe theories and branches in the program.
We also focus on a few theories that illustrate distinct patterns of theory growth, using them to show the variety of ways in which the research program has grown.
The program structure developed from a single set of theories on development and maintenance of group inequality in the 1960s to six interrelated branches by 1988. Between 1988 and today, the overall structure has grown to total 19 different branches. We briefly describe each branch, identifying over 200 resources for the further study of these branches.
Although the various branches share key concepts and processes, they have been developed by different researchers, in a variety of settings from laboratories to schools to business organizations. Second, we outline some important issues for further research in some of the branches. Third, we emphasize the value of developing new research methods for testing and applying the theories.
These theories have been used to explain phenomena of gender, racial, and ethnic inequality among others, and for understanding some cases of personality attributions, deviance and control processes, and application of double standards in hiring.
Status and expectation state processes often operate to produce invidious social inequalities. Understanding these processes can enable social scientists to devise more effective interventions to reduce these inequalities.
Originality/Value of the Chapter
Status and expectation state processes occupy a significant segment of research into group processes. This chapter provides an authoritative overview of ideas in the program, what is known, and what remains to be discovered.