Using a GIS for Real Estate Market Analysis: The Problem of Spatially Aggregated Data

Many databases used for real estate market analysis are not available at the address level. For example, information on employment and unemployment may be available only for labor market areas; and Census data is typically tabulated for blocks or higher levels of spatial aggregation. A Geographic Information System (GIS) associates these spatially aggregated data with the geographical center of the area. This poses special problems when we use a GIS to evaluate linkages between supply and demand. This article presents some solutions to this problem; methods that are relatively easy to implement on a GIS are emphasized. A GIS can be used to calculate a theoretical average travel distance to the population in the geographical area. We propose ways to determine when these theoretical distances are inadequate approximations; and we provide alternatives for these situations.

Should UI Benefits Really Fall over Time?

The issue of whether unemployment benefits should increase or decrease over the unemployment spell is analyzed in an analytically tractable model allowing moral hazard, adverse selection and hidden savings. Analytical results show that when the search productivity of unemployed is constant over the unemployment spell, benefits should typically increase or be constant. The only exception is when there is moral hazard and no hidden savings. In general, adverse selection problems calls for increasing benefits, moral hazard problems for constant benefits and decreasing search productivity for decreasing benefits.unemployment benefits, search, moral hazard, adverse selection

A distributional checklist of the spider wasps (Hymenoptera: Pompilidae) of Florida

The Florida fauna of Pompilidae is investigated and a total of 115 species are recorded. Among them, 30 are new records for the state. The species and subspecies are presented by subfamily and tribe accompanied by county-based distributional accounts for each of the lower taxa.Se investiga la fauna de Pompilidae de Florida, reportándose un total de 115 especies. De estas, 30 especies son nuevos registros para el estado. Se presenta la subfamilia y tribu correspondiente a las especies y subespecies. La distribución en condados se enumera para los taxones de más bajo rango

XMM-Newton observations of five INTEGRAL sources located towards the Scutum Arm

Results are presented for XMM-Newton observations of five hard X-ray sources discovered by INTEGRAL in the direction of the Scutum Arm. Each source received more than 20 ks of effective exposure time. We provide refined X-ray positions for all five targets enabling us to pinpoint the most likely counterpart in optical/infrared archives. Spectral and timing information (much of which are provided for the first time) allow us to give a firm classification for IGR J18462-0223 and to offer tentative classifications for the others. For IGR J18462-0223, we discovered a coherent pulsation period of 997+-1 s which we attribute to the spin of a neutron star in a highly-obscured (nH = 2e23 /cm2) high-mass X-ray binary (HMXB). This makes IGR J18462-0223 the seventh supergiant fast X-ray transient (SFXT) candidate with a confirmed pulsation period. IGR J18457+0244 is a highly-absorbed (nH = 8e23 /cm2) source in which the possible detection of an iron line suggests an active galactic nucleus (AGN) of type Sey-2 situated at z = 0.07(1). A periodic signal at 4.4 ks could be a quasi-periodic oscillation which would make IGR J18457+0244 one of a handful of AGN in which such features have been claimed, but a slowly-rotating neutron star in an HMXB can not be ruled out. IGR J18482+0049 represents a new obscured HMXB candidate with nH = 4e23 /cm2. We tentatively propose that IGR J18532+0416 is either an AGN or a pulsar in an HMXB system. The X-ray spectral properties of IGR J18538-0102 are consistent with the AGN classification that has been proposed for this source.Comment: 15 pages, 9 figures, 4 tables: accepted for publication in Ap

Chandra Localizations and Spectra of INTEGRAL Sources in the Galactic Plane

We report on the results of observations of hard X-ray sources in the Galactic plane with the Chandra X-ray Observatory. The hard X-ray IGR sources were discovered by the INTEGRAL satellite, and the goals of the Chandra observations are to provide sub-arcsecond localizations to obtain optical and infrared counterparts and to provide constraints on their 0.3-10 keV spectra. We obtained relatively short, ~5 ks, observations for 20 IGR sources and find a bright Chandra source in INTEGRAL error circles in 12 cases. In 11 of these cases, a cross-correlation with optical and/or infrared source catalogs yields a counterpart, and the range of J-band magnitudes is 8.1-16.4. Also, in 4 cases, the Chandra X-ray spectra show evidence for absorbing material surrounding the compact object with a column density of local material in excess of 5x10^22 cm^-2. We confirm that IGR J00234+6141 is a Cataclysmic Variable and IGR J14515-5542 is an Active Galactic Nucleus (AGN). We also confirm that IGR J06074+2205, IGR J10101-5645, IGR J11305-6256, and IGR J17200-3116 are High Mass X-ray Binaries (HMXBs). Our results (along with follow-up optical spectroscopy reported elsewhere) indicate that IGR J11435-6109 is an HMXB and IGR J18259-0706 is an AGN. We find that IGR J09026-4812, IGR J18214-1318, and IGR J18325-0756 may be HMXBs. In cases where we do not find a Chandra counterpart, the flux upper limits place interesting constraints on the luminosities of black hole and neutron star X-ray transients in quiescence.Comment: Accepted by Ap

Inequality and Mobility

Acknowledging that wage inequality and intergenerational mobility are strongly interrelated, this paper presents a model in which both are jointly determined. The model enables us to study how inequality and mobility are affected by exogenous changes and what determines their correlation. A main implication of the model is that differences in the amount of public subsidies to education and educational quality produce cross-country patterns with a negative correlation between inequality and mobility. Differences in the labor market, like differences in skill-biased technology or wage compression instead produce a positive correlation. The predictions of the model are found to be consistent with various empirical observations on mobility and inequality.

Strategic Asset Allocation in a Continuous-Time VAR Model

This note derives an approximate solution to a continuous-time intertemporal portfolio and consumption choice problem. The problem is the continuous-time equivalent of the discrete-time problem studied by Campbell and Viceira (1999), in which the expected excess return on a risky asset follows an AR(1)process, while the riskless interest rate is constant. The note also shows how to obtain continuous-time parameters that are consistent with discrete-time econometric estimates. The continuous-time solution is numerically close to that of Campbell and Viceira and has the property that conservative long-term investors have a large positive intertemporal hedging demand for stocks.

Broadband Suzaku observations of IGR J16207-5129

An analysis of IGR J16207-5129 is presented based on observations taken with Suzaku. The data set represents ~80 ks of effective exposure time in a broad energy range between 0.5 and 60 keV, including unprecedented spectral sensitivity above 15 keV. The average source spectrum is well described by an absorbed power law in which we measured a large intrinsic absorption of nH = 16.2(-1.1/+0.9)x10^22 /cm2. This confirms that IGR J16207-5129 belongs to the class of absorbed HMXBs. We were able to constrain the cutoff energy at 19(-4/+8) keV which argues in favor of a neutron star as the primary. Our observation includes an epoch in which the source count rate is compatible with no flux suggesting a possible eclipse. We discuss the nature of this source in light of these and of other recent results.Comment: 12 pages, 6 figures, accepted for publication in Ap