the male marital wage premium sorting vs differential pay the authors examine whether male marital and parenthood premia arise due to differential pay by employers or from differential sorting of employees on occupations and establishments they investigate these premia using matched employee employer data from the period 1979 96 in norway a country with increased pressures on men to be more active in the family sphere and in which public policy has aimed at remaking the family institution we find that the effect of marriage and to a lesser extent of children occurs mostly through sorting on occupations and occupation establishment units the role of differential pay from employers is marginal in explaining the marital and parenthood premia results assessing within individual changes in wages suggest that about 80 of the marital premium is due to selection the men who eventually marry and or have children sort into the higher paying occupations and occupation establishment units even prior to marriage and parenthood

automate the identification of technical patterns a k nearest neighbour model approach to explore profitable patterns in historical stock prices ordinarily a promising pattern is selected by rule of thumb and then its performance is verified by comparing the conditional return of t

intraday technical trading in the foreign exchange market this paper examines the out of sample performance of intraday technical trading strategies selected using two methodologies a genetic program and an optimized linear forecasting model when realistic transaction costs and trading hours are taken into account we find no evidence of excess returns to the trading rules derived with either methodology thus our results are consistent with market efficiency we do however find that the trading rules discover some remarkably stable patterns in the data

does marriage really make men more productive this paper presents new descriptive evidence regarding marital pay premiums earned by white males longitudinal data indicate that wages rise after marriage and that cross sectional marriage premiums appear to result from a steepening of the earnings profile data from a company personnelfile that includes information on job grades and supervisor performance ratings reveal large marital status pay differences within a narrow range of occupations managers and professionals and environments a single firm married workers tend to be located in higher paying job grades there are very small pay differentials within grades married men receive higher performance ratings than single men as a result they are much more likely to be promoted controlling for rated performance however eliminates the promotion differential sanders korenman is an assistant professor of economics and public affairs at princeton university and is a faculty associate of the office of population research at princeton university and a research affiliate of the national bureau of economic research nber david neumark is an assistant professor of economics at the university of pennsylvania and a research affiliate of the nber korenman wishes to acknowledge the hewlett foundation and the harvard university center for population studies for financial support the authors are grateful to james medofffor making available an extract from the company personnelfile questions regarding data availability should be directed to professor james

the role and behaviour of commercial property investors and developers in french urban regeneration the experience of the paris region summary this paper provides an analysis of the factors underlying private investment decisions concerning property development with specific reference to urban regeneration in the french context it is based on the results of a behavioural survey and mca analysis of the behaviour patterns and motivations of active private investors and developers in the french commercial property markets and their involvement in french urban regeneration initiatives the pattern of investment and development activity over the 1997 2002 french property market recovery period has been studied and a typology of actors set up based on their investment policy for these property markets the findings indicate that property investors in urban regeneration essentially seek speculative developments and short term investments

occupier requirements in commercial real estate markets changes in the business environment associated with globalisation innovation in information and communications technologies and the drive towards more flexible production systems should be reflected in changes in occupational requirements for property although much research assumes that property as a derived demand will simply be supplied in response to changed demand in practice the institutional structure of the market can act as a constraint on the provision of appropriate space empirical research into new working practices and their impact on the property portfolio suggest that change is muted and gradual in part this reflects resistance to the adoption of working practices in part it reflects the inertia of a traditional model of property procurement however there is growing evidence of innovation in the nature of provision and more active and strategic management of the property resource research in this area as in many other areas of real estate is hampered by lack of reliable and a

the accumulation of human capital during marriage by males married males have significantly higher wage rates than never married widowed or divorced males even when differences in educational attainment experience race and so on are controlled for evidence presented in this paper suggests that most of the unexplained wage differential associated with marital status in earnings regressions results from males accumulating human capital more rapidly when they are married than when those same males are not married the hypothesis that married males earn more than unmarried males because marriage facilitates the financing of human capital accumulation is supported by this and other evidence

the demand for education for home production this paper analyzes a type of education thus far ignored in the literature non credit adult education to enhance home production skills in the analysis we test whether such education behaves as an investment in home productivity and also compare the differences between demands for home productivity enhancing education and labor market enhancing education results on four adult cohorts indicate that both types of schooling have investment components although there are also significant differences in the two demand functions results also indicate that the two types of education are complementary rather than substitute activities

a meta analytical evaluation of sustainable city initiatives the role of the city in environmental management is increasingly coming to the fore a central element in creating urban environmental sustainability is the adoption of appropriate energy policies since most environmental externalities in cities are directly or indirectly related to energy use the current practice demonstrates an overwhelming variety of initiatives and policies so that the actual success of such strategies in a cross sectional comparative perspective is hard to evaluate in this context this paper offers an application of meta analysis as this approach is an interesting analytical contribution towards a better understanding of the critical success factors of urban energy policies the paper starts with a general overview of the issue of urban sustainability and sets out the importance of energy policies at the urban level it continues by offering a methodological framework for the assessment of critical factors related to the performance of sustainable energy strategies using a dat

immigration and the family this article studies the role of the family in determining the skill composition and labor market experiences of immigrants in the united states our theoretical framework based on the assumption that family migration decisions maximize household income shows that the family attenuates the selection characterizing the skills of the immigrant population the empirical analysis uses the 1970 and 1980 public use samples of the u s census and reveals that an immigrant s skills and labor market performance are greatly influenced by the composition of the household at the time of migration and by his placement in the immigration chain

household specialization and the male marriage wage premium empirical research has consistently shown that married men have substantially higher wages on average than otherwise similar unmarried men one commonly cited hypothesis to explain this pattern is that marriage allows one spouse to specialize in market production and the other to specialize in home production enabling the former usually the husband to acquire more market specific human capital and ultimately earn higher wages the authors test this hypothesis using panel data from the national survey of families and households the data reveal that married men spent virtually the same amount of time on home production as did single men albeit on different types of housework estimates from a fixed effects wage equation indicate that the male marriage wage premium is not substantially affected by controls for home production activities household specialization the authors conclude does not appear to have been responsible for the marriage premium in this sample

labor supply differences between married heterosexual women and partnered lesbians a semi parametric decomposition approach i introduction partnered lesbian women have substantially higher labor supply than married women leppel 2008 tebaldi and elmslie 2006 what might account for the sexual orientation gap in partnered female labor supply everyday conversation and casual empiricism suggests that partnered lesbian women have a stronger attachment to the labor market relative to married women because of their choice to have fewer children than their married counterparts yet this has not been formally analyzed the primary goal of this study is to determine the role observable characteristics particularly children play in explaining the differences in labor supply between partnered lesbian women and married women while empirical research on the determinants of partnered lesbian women s labor supply is limited 1 the determinants of married women s labor supply have been studied in great detail see blundell and macurdy 1999 for a survey of the literature in general married women s labor supply is found to be positively related to own wages negatively related to spouse wages and nonlabor income and negatively related to the presence of children particularly young children in the household 2 importantly the same control variables are not found to have the same effect on married men s labor supply in particular men are not responsive to their wife s earnings and tend to have higher labor supply because of the presence of children these findings are consistent with a traditional division of labor into market and household work which results in married men being viewed as the primary earners and married women being viewed as the secondary earners 3 in particular becker 1981 argues that increasing returns from investments in specific human capital encourages a division of labor in market work and household work among household members the sexual division of labor however arises from intrinsically different comparative advantages of men and women e g in the production of children which would determine the direction of the division of tasks by gender this in turn leads to differences in specific human capital accumulation which reinforces the intrinsically different comparative advantages of men and women even in the face of rising female labor force participation increased divorce rates and lower fertility male and female earnings would not be equalized becker 1985 specifically becker argues that married women with household responsibilities e g child care and food preparation would expend less energy on market work make lower investments in market oriented human capital face lower hourly earnings and choose less demanding jobs occupations than married men even when they work the same number of hours because household responsibilities are time and effort intensive relative to leisure and other nonmarket uses of time by men moreover married women would have lower labor force participation than their husbands because of the lower earnings they would face because of less energy expended on market work and lower investments in market oriented human capital and a full equilibrium could involve complete specialization by married women in household production although married men have increased their time spent on child care production there is strong evidence that married women continue to spend more time on child care production than their spouses bianchi robinson and milkie 2006 drago and lee 2008a 2008b kalenkoski ribar and stratton 2005 2007 lundberg pabilonia and ward batts 2007 in addition the sociology literature argues that married women are more likely to identify themselves in the context of family and market work while married men are more likely to identify themselves in the context of market work alone see e g bielby and bielby 1989 finally there is a large literature that tests the specialization hypothesis bardasi and taylor 2008 daniel 1992 gray 1997 hersch and stratton 2000 kenny 1983 loh 1996 stratton 2002

do momentum based strategies still work in foreign currency markets this paper examines the performance of momentum trading strategies in foreign exchange markets we find the well documented profitability of momentum strategies during the 1970s and the 1980s has continued throughout the 1990s our approach and findings are insensitive to the specification of the trading rule and the base currency for analysis finally we show that the performance is not due to a time varying risk premium but rather depends on the underlying autocorrelation structure of the currency returns in sum the results lend further support to prior momentum studies on equities the profitability to momentum based strategies holds for currencies as well

testing becker s prediction on assortative mating on spouses wages it is often believed that spouses wages are positively related even when other traits such as age and education are controlled this is mainly based on the observation of two earner couples this paper uses the standard sample selection technique to correct for the sample censoring and to compute potential wages for nonworking women using data from taiwan it is found that after accounting for sample censoring and cross productivity effects there is weak evidence that the partial correlation between spouses wages can be negative this lends first weak but direct support for

an adaptive robust portfolio optimization model with loss constraints based on data driven polyhedral uncertainty sets abstract robust portfolio optimization models widely presented in the financial literature usually assume that asset returns lie in a parametric uncertainty set with a controlled level of conservatism expressed in terms of the variability of the uncertain parameters in practice however it is not clear how investors should choose the conservatism parameter to reflect their own preferences while considering price dynamics in this paper we provide a new perspective on robust portfolio optimization where we impose an intuitive loss constraint for the optimal portfolio considering asset returns in a data driven polyhedral uncertainty set adaptively updated in a rolling horizon scheme the proposed model captures price dynamics absorbing new patterns and forgetting old ones by means of a data driven polyhedral based loss constraint and an optimal mixture of asset price signals we perform a case study to illustrate that it is possible to obtain a loss controlled portfolio with higher expected returns than chosen benchmark strategies considering realistic transaction costs out of sample results obtained by applying our model for each day of the historical data 2000 2015 and updating with realized returns indicate that our robust portfolio exhibited an enhanced performance while successfully constraining possible losses

can sustainability enhance business district attractiveness a survey of corporate property decisions in france this paper analyses the rising importance of sustainable principles in property decisions and its impact on attractiveness for business districts in france a behavioural survey of a large sample of corporate property managers and a multiple correspondence analysis highlight key factors indicating the influence of sustainable principles alongside more traditional determinants of territorial attractiveness this approach enables the drawing up of a typology of companies according to the influence of sustainability issues showing the rise in importance placed on sustainability in location decisions made by listed companies companies that own their head offices and companies located in the main business districts of the paris metropolitan area

unobservable individual effects marriage and the earnings of young men i introduction married men earn more than unmarried men this fact is unassailable and is robust across data sets and over time two common explanations of the married male wage premium are i the division of labor in a married household which allocates more of the man s time to the market and ii lower cost human capital acquisition for married men both of these stories view marriage as productivity enhancing kenny 1983 provides some evidence that marriage facilitates human capital acquisition however the potential endogeneity of marital status is ignored furthermore the argument that marriage makes it cheaper to accumulate human capital is difficult to reconcile with the fact that individuals who acquire more formal education tend to marry later than those who acquire less bergstrom and schoeni 1992 an alternative explanation for the marriage premium is that marriage signals certain unobservable individual characteristics such as ability honesty loyalty dependability and determination that are valued in both the labor and marriage markets l although i and ii are quite different in terms of their behavioral content they do share a common thread whether marriage per se increases productivity or high productivity men are more likely to be married marital status should not be treated as an exogenous determinant of the wage rate nevertheless in most wage regressions that control for marital status it is assumed to be exogenous resulting in an estimated marriage premium that is biased upward two exceptions are nakosteen and zimmer 1987 and korenman and neumark 1991 although both papers base their empirics on samples of young men they come to very different conclusions regarding the size and source of the marriage premium nakosteen and zimmer find the marriage premium to be insignificantly different from zero and claim that marriage does not make men more productive korenman and neumark kn present evidence that the marriage premium is at least 15 and rises with years married indicating that marriage may be productivity enhancing in this paper we reexamine the empirical relationship between marriage and wages using a sample drawn from the 1971 1976 1978 and 1980 waves of the national longitudinal survey of young men nlsym our data set is an extension of the one used by kn whose empirical work is based on the 1976 1978 and 1980 waves of the nlsym 2 our results may be summarized as follows estimates of the marriage premium derived from fixed effects models which control for unobserved heterogeneity are uniformly smaller than those obtained from random effects models and other cross section approaches that do not specification tests reject the latter and suggest that the individual effects are positively correlated with both marriage and wages conditional on labor market experience job tenure and year effects time spent in marriage has no significant effect on wages this stands as evidence against any dynamic productivity enhancing effect of marriage we conclude that whatever the source the marriage premium is a pure intercept shift and no more than 5 to 7 further support for this conclusion comes from the relationship between prospective marriage and wages using our longer panel we construct a to be married variable which identifies men who marry sometime during the sample period men who are not married in 1971 but who will be earn at least as much as those who are already married finally an interesting related result is the robust and significant effect of children on wages conditional on marital status and years married the presence of children raises wages about 5 regardless of the estimator employed we interpret the effects of marriage and children on wages similarly as structural breaks in the wage generating process involving adjustments in market work and homework among other things

why does spousal education matter for earnings assortative mating and cross productivity spousal education is correlated with earnings for two reasons cross productivity between couples and assortative mating this article empirically disentangles the two effects by using chinese twins data we have two innovations using twins data to control for the unobserved mating effect in our estimations and estimating both current and wedding time earnings equations we find that both crossproductivity and mating are important in explaining the current earnings although the mating effect exists for both husbands and wives the cross productivity effect mainly runs from chinese husbands to wives our findings shed light on the theories of human capital marriage and the family

charts noise and fundamentals in the london foreign exchange market this paper presents some empirical evidence on the prevalence perceived importance and nature of chartist or technical analysis in the london foreign exchange market if noise traders see e g de long et al i987 are defined as those speculators who do not base their trading strategies on a consideration of market fundamentals then it clearly encompasses those traders who employ chart analysis i e those who base their strategies on the analysis and extrapolation of past price movements alone

marital status and earnings of young men a model with endogenous selection it is a matter of course in applied labor economics to presume that marital status is a predetermined contributor to earnings among young males we find no evidence to support that proposition we estimate a model of earnings determination that permits endogenous selection of marital status our estimates are based on a sample of young employed males from the michigan panel survey of income dynamics they indicate that marital status viewed in this manner does not significantly shift the mean earnings profile our sensitivity tests indicate that this conclusion is robust with respect to a variety of alternative specifications excerpt

intra urban location of manufacturing employment in colombia this paper describes the spatial distribution of manufacturing employment in bogota and analyzes the changes in the location patterns over the 1970 1975 period using industrial directory data the analysis shows strong evidence of the spatial decentralization of manufacturing employment owing to a steady movement of firms outward from central areas new large firms with more than 100 employees tend to locate near the periphery while the births of small firms tend to take place near the center measures of concentration indicate an increasing dispersion of manufacturing establishments during the period this trend is similar to what has occurred in the u s during the past several decades due to changes in production technology and revolutions in transportation and communication these same factors might prevail in bogota

sustainable energy projects and the community mapping single building use of microgeneration technologies in london microgeneration technologies offer the potential for distributed energy supply and consumption resulting in reduced reliance on centralised generation adoption of microgeneration for use in community settings is usually understood as having a beneficial contribution to sustainable development this is particularly relevant in urban environments which present specific challenges relating to the heterogeneity of building and land use small scale installations in buildings also appear to offer technological flexibility at the human level necessary for local participation in shaping the direction of sustainable development this paper reports on a project concerned with identifying on site energy generation projects in greater london a database was compiled comprising renewable and energy efficient microgeneration installations in multi occupancy buildings the relationships between each project and its associated organisations are mapped as a social network which illustrates the heterogeneity of technologies and actors involved as well as the flows of funding and expertise the structure of the resulting networks indicates a lack of participation by social or not for profit groups who are traditionally identified as community level actors the findings indicate that large institutional actors on the supply side may become regarded as renewable energy experts hence there is a need to consider how the concept of community level actors in urban microgeneration projects is applicable to local government and commercial organisations

do marital status and computer usage really change the wage structure this analysis uses several identification strategies and data sources to control for individual ability and determine the causal effect of marital status and computer usage on wages although data from the cps nlsy and a data set of identical twins show that there are large cross sectional effects of these variables new econometric specifications are applied to these data which indicate that marital status and computer usage are not important causal determinants of earnings even after adjustments are made for measurement error and within twin differences in ability

london and beyond taking a closer look at urban energy policy this paper considers the field of urban energy policy a neglected yet important topic cities account for approximately two thirds of global primary energy consumption creating significant benefits and costs as a result there has been growing interest in the contribution of cities to global energy policy issues such as climate change but a number of significant questions remain e g how do energy policy processes differ between national and urban scales and how can cities contribute most effectively to global policy goals we present the results of interviews with key stakeholders in london to illustrate some unique features of the urban energy policy cycle we then take a wider view proposing a research agenda with three key goals describing the global variety of urban energy consumption and policy understanding the resulting diversity in responsibility vulnerability and capacity and developing shared procedures and solutions tackling these questions is vital if cities are to contribute fully to current energy policy efforts

agglomeration and dispersion of high order service employment in the montreal metropolitan region 1981 96 much of the recent urban literature on suburban employment centres has neglected the role of high order services perhaps the principal component of edge cities in the creation of the evolving multinucleated metropolitan structure this paper specifically explores the role of high order services in this process we use employment by place of work data at the census tract level to examine the changing intrametropolitan geography of employment in four finance insurance and real estate fire services and eight business services in the montreal area over the period 1981 96 we find evidence of central business district cbd decline in relative but not absolute terms the resulting decentralisation has clearly assumed the form of polycentricity rather than of generalised dispersion in spite of recent advances in telecommunications technologies agglomeration economies continue to exert an important impact upon intrametropolitan location

gains from corporate headquarters relocations evidence from the stock market abstract this paper provides empirical evidence on investors perceptions of the relative advantages and costs of spatial agglomeration specifically we examine the stock price effects of headquarters relocations the stock market reaction is significantly positive when relocation decisions are attributed to cost savings indicating that cost savings available at less centralized locations outweigh any loss of enhancements associated with spatial clustering at urban centers in contrast decisions prompted by managerial self interest and desire for luxurious offices elicit an adverse reaction from investors

the fall in men s return to marriage declining productivity effects or changing selection historically one of the most robust findings from human capital wage equations has been that married men earn more than men who never marry however the earnings premium paid to u s married compared with never married men declined by more than 40 percent during the 1980s data from the national longitudinal surveys young men and youth cohorts are used to explore two competing explanations for this decline changes in the selection of high wage men into marriage and changes in the productivity effects of marriage due to declining specialization within households the results suggest that the drop in the marriage wage premium was due largely to a decline in the productivity effects associated with marriage instrumental variables estimation suggests that these declining productivity effects can be explained by a reduction in the average degree of specialization across households coupled with an increase in the wage penalty associated with wives labor market hours excerpt

is there a male marital wage premium new evidence from the united states this study reconsiders the phenomenon that married men earn more money than unmarried men a key result of the research on marriage benefits many earlier studies have found such a male marital wa

the use of technical analysis in the foreign exchange market abstract technica or chartist analysis of financial markets involves providing forecasts or trading advice on the basis of largely visual inspection of past prices without regard to any underlying economic or fundamental analysis this paper reports the results of a questionnaire survey conducted on behalf of the bank of england among chief foreign exchange dealers based in london in november 1988 amongst other findings it is revealed that at least 90 per cent of respondents place some weight on this form of non fundamental analysis when forming views at one or more time horizons there is also a skew towards reliance on technical as opposed to fundamentalist analysis at shorter horizons which becomes steadily reversed as the length of horizon considered is increased a very high proportion of chief dealers view technical and fundamental analysis as complementary forms of analysis and a substantial proportion suggest that technical advice may be self fulfilling jel f31

positive assortative mating and spouses as complementary factors of production a theory of labour augmentation this article develops a model of intellectual labour augmentation to explain both the marriage wage premium and educational assortative mating we suggest that husbands and wives are complementary factors of production where a spouse s education and skills augment their partner s productivity and earnings potential we test this proposition using data from the 2000 us census of population and the 2003 current population survey our results indicate that for working couples the marriage premium for husbands and wives is directly related to the education level of their spouses suggesting that positive assortative mating may be attributable to the labour market effects of intellectual augmentation of married households

on the age at marriage theory and evidence from jews and moslems in israel abstract in this paper we extend the becker keeley and bergstrom bagnoli theories of the optimal age at marriage and derive systematic cross cultural differences in the marriage pattern we then examine the empirical relevance of the hypotheses for jewish and moslem population groups in israel the empirical analysis is more detailed than previous studies by for example splitting the sample according to the wife s labor market status the evidence supports the becker keeley prediction about the effects of the spouses wage rates the bergstrom bagnoli prediction about the effect of the husband s wage rate in a traditional society and the additional hypotheses we propose

marriage and wages a test of the specialization hypothesis we investigate the relationship between marriage and wages among men in britain using panel data our econometric specifications allow for observed and unobserved heterogeneity and explicitly test the role of intra household specialization in explaining the observed relationship our estimates provide evidence for the existence of large selection effects into marriage based on observable and unobservable characteristics that are positively correlated with wages after accounting for individual specific time invariant effects and a wide range of individual household job and employer related characteristics we find a statistically significant premium that can be attributed to productivity differences largely resulting from intra household specialization

examining the wage differential for married and cohabiting men leslie s stratton i introduction wage analyses almost universally indicate that married men earn more than do single men even after controlling for observable human capital characteristics the same appears to be true for cohabiting men research has failed as yet to reach a consensus regarding the nature of these differentials the evidence is consistent with a number of alternative explanations first marriage could increase men s market productivity because economies of scale and increased specialization within a multiperson household give them more time and energy to devote to market related activities if this is the mechanism driving the marital wage differential then cohabiting men may also experience a wage boost albeit a smaller one as cohabitation is a less stable relationship and less likely to engender specialization wages could jump at the start of a relationship but an increased focus on market related activities is more likely to cause wages to rise at a faster pace alternatively men who marry or cohabit may be inher ently different from men who do not if men are selected into relationships based on their earnings ability then cross section wage analyses will indicate a wage differential for married and cohabiting men but difference estimation will not the goal of this analysis is to shed light on the nature of the marital and cohabitation wage premiums for men by estimating wage models that permit both differential wage growth and selection effects ii literature review evidence of a marital wage premium for men abounds a thorough literature review is beyond the scope of this article but incorporation of a marital dummy in wage specifications for men is fairly standard hill 1979 provides one much cited work empirical estimates in the range of 10 to 30 are typical a number of researchers have explored the nature of this wage differential one explanation focuses on the marital decision itself the argument being that men who are inherently more productive are more sought after marriage partners and hence more likely to marry this is the selection model attempts such as that by nakosteen and zimmer 1987 to estimate a model in which marital status and wages are endogenously determined have yielded inconclusive results and are sensitive to identification restrictions an alternative approach less subject to specification error is to estimate a fixed effects specification that eliminates all individual specific time invariant characteristics 1 researchers korenman and neumark 1991 bartlett and callahan 1984 daniel 1991 and gray 1997 have employed this technique and continue to observe a significant marital wage differential indicating that selection effects do not explain the entire differential gray 1997 finds some evidence that the premium has declined over time as he does not find a significant marital wage differential using data from the national longitudinal survey of youth nlsy the most recent cohort of data tested however daniel 1991 also uses data from the nlsy and he finds a significant marital wage differential of about the same magnitude as that obtained from older cohorts generally speaking a comparison of cross section and panel results suggests that less than 20 of the marital wage differential is attributable to individual specific components or selectivity if selection alone does not explain the differential then wages must increase following marriage wages could be higher because they jump or because they rise more rapidly following marriage empirical estimates reported by kenny 1983 using the coleman rossi retrospective life histories study and by korenman and neumark 1991 loh 1996 and gray 1997 using the national longitudinal study of young men suggest that the growth rate of wages increases on marriage once again results from the nlsy are mixed with daniel 1991 finding faster wage growth following marriage and gray 1997 finding no marital wage differential

property in a global risk society towards marketing research in the office sector this paper suggests that the current uncertainty hovering over the property industry is not simply the result of an internal economic dynamic dooming the industry to damaging booms and slumps rather the novel sense of risk colouring contemporary development activities is the consequence of wider cultural technical and commercial shifts from which property development is not immune the current supply oriented interests of property research predominantly concerned with the collection and analysis of statistical data are unable to respond to these wider questions simply creating more data banks will not help the paper argues that in order to understand the shifting nature of demand property research needs to complement econometric modelling with a more occupier focused marketing research one that is sensitive to the dynamics of the risk society we now inhabit accordingly the paper provides a detailed account of structured market research which should form part of a broader property research agenda in particular structured demand analysis is shown to provide a framework for understanding the complex dynamics of the demand market so demonstrating how the supply industry can improve its efficiency the paper suggests that the scale of the latest property crash offers an opportunity for the industry to improve the efficiency of supply by blending intimate knowledge of changing market demand with established dynamics of provision such a research strategy may provide the key to a more stable mutually profitable property business appropriate to a rapidly changing world economy of risk

technical analysis and the spanish stock exchange testing the rsi macd momentum and stochastic rules using spanish market companies the aim of this research is to examine the result of the application of the indicators relative strength index rsi moving average convergence divergence macd momentum and stochastic in different companies of the spanish continuous market by using these indicators it is intended to give purchase and sale recommendations to small investors the generation of great capital gains depends on the type of the stock exchange company and the indicator which is being used in addition this research solves the problems in case of ambiguity in the indicators for the traders

portfolios in the ibex 35 before and after the global financial crisis abstractin this article we present an analysis of the effectiveness of various portfolio optimization strategies applied to the stocks included in the spanish ibex 35 index for a period of 14 years from 2001 until 2014 the period under study includes episodes of volatility and instability in financial markets incorporating the global financial crisis and the european sovereign debt crisis this implies a challenge in portfolio optimization strategies since the methodologies are restricted to the assignment of positive weights we have taken for asset allocation the daily returns with an estimation window equal to 1 year and we hold portfolio assets for another year this article attempts to influence the discussion over whether the naive diversification proves to be an effective strategy as opposed to portfolio optimization models for that we evaluate the out of sample performance of 15 strategies for asset allocation in the ibex 35 before and after of the global financial crisis our results sugg

the location decision and employment suburbanization the paper develops a theoretical analysis of a profit maximizing firm s behaviour in determining output and location in order to explain the suburbanisation of employment this is done by deriving the supply curve of a firm whose locational choice is restricted to two locations the city centre and the suburbs the form of this supply curve indicates that at low levels of production the city centre is optimal but above a critical level of production optimality shifts to the suburbs particularly where residential suburbanization of the labour force has also occurred

a note on the weak form efficiency of capital markets the application of simple technical trading rules to uk stock prices 1935 to 1994 abstract brock et al 1992 found technical trading rules to have predictive ability with regards to the dow jones index the current paper considers whether this result can be replicated on uk data the paper also considers whether investors could earn excess returns from technical analysis in a costly trading environment the paper concludes that although the technical trading rules examined do have predictive ability in terms of uk data their use would not allow investors to make excess returns in the presence of costly trading

the accumulation of dis advantage the intersection of gender and race in the long term wage effect of marriage a sizable literature examines whether and why marriage affects men s and women s wages this study advances current research in two ways first whereas most prior studies treat the effect of marri

naive trading rules in financial markets and wiener kolmogorov prediction theory a study of technical analysis this article attempts a formal study of technical analysis which is a class of informal prediction rules often preferred to wiener kolmogorov prediction theory by participants of financial markets yet wiener kolmogorov prediction theory provides optimal linear forecasts this article investigates two issues that may explain this contradiction first the article attempts to devise formal algorithms to represent various forms of technical analysis in order to see if these rules are well defined second the article discusses under which conditions if any technical analysis might capture those properties of stock prices left unexploited by linear models of wiener kolmogorov theory copyright 1991 by university of chicago press