A Range-Based Multivariate Model for Exchange Rate Volatility

In this paper we present a parsimonious multivariate model forexchange rate volatilities based on logarithmic high-low ranges ofdaily exchange rates. The multivariate stochastic volatility modeldivides the log range of each exchange rate into two independentlatent factors, which are interpreted as the underlying currencyspecific components. Due to the normality of logarithmic volatilitiesthe model can be estimated conveniently with standard Kalman filtertechniques. Our results show that our model fits the exchange ratedata quite well. Exchange rate news seems to be very currency-specificand allows us to identify which currency contributes most to bothexchange rate levels and exchange rate volatilities.exchange rates;multivariate stochastic volatility models;range-based volatility

The Derivation of Two Regression Equations for Predicting Freshmen Cumulative Grade Point at Central Washington State College from Ninth Grade Subject Averages

The purpose of the study was to develop formulas to predict college freshmen cumulative grade point at Central Washington State College from grades received in ninth grade English, mathematics, or physical education, or from a combination of the three

From Hunger Amidst Abundance to Abundance Without Hunger

This report presents an overview of the policy findings of IIASA's Food and Agriculture Program. This study is not primarily set up to derive detailed prescriptive policy scenarios, but is concerned with a better understanding of the effectiveness of various policy instruments. The presentation follows these lines and demonstrates the consequences of alternative policies without judging their political feasibility. This is deemed appropriate, in particular, because in the actual policy debate a large role is played by fears of the consequences of policy changes and their costs, which stifle the decision-making process. By estimating these consequences as objectively as possible, even for rather radical policy changes, some of these fears may, in fact, be allayed and the actual decision-making process facilitated

A Range-Based Multivariate Model for Exchange Rate Volatility

In this paper we present a parsimonious multivariate model for exchange rate volatilities based on logarithmic high-low ranges of daily exchange rates. The multivariate stochastic volatility model divides the log range of each exchange rate into two independent latent factors, which are interpreted as the underlying currency specific components. Due to the normality of logarithmic volatilities the model can be estimated conveniently with standard Kalman filter techniques. Our results show that our model fits the exchange rate data quite well. Exchange rate news seems to be very currency-specific and allows us to identify which currency contributes most to both exchange rate levels and exchange rate volatilities

Job crafting and its relationships with person-job fit and meaningfulness: A three-wave study

Although scholars imply that job crafting contributes to person-job fit and meaningful work, to date, no study examined the relationships between these variables. The present three-wave weekbook study was designed to gain more knowledge about the influence of job crafting on person-job fit and meaningfulness. We collected data among a heterogeneous group of employees (N = 114) during three consecutive weeks (N = 430 occasions). At the end of their working week, employees reported their job crafting behaviors, their person-job fit (demands-abilities fit and needs-supplies fit), and the meaningfulness of their work that week. Results indicated that individuals who crafted their job by increasing their job resources (e.g., support, autonomy) and challenging job demands (e.g., participate in new projects), and by decreasing their hindering job demands (e.g., less emotional job demands) reported higher levels of person-job fit the next week. In turn, demands-abilities fit related to more meaningfulness in the final week. No support was found for alternative causal models. These findings suggest that by crafting their job demands and job resources, individuals can proactively optimize their person-job fit and as a consequence experience their work as meaningful

Do transformational leaders enhance their followers' daily work engagement?

This diary study investigated whether and howsupervisors' leadership style influences followers' daily work engagement. On the basis of leadership theories and the job demands–resources model, we predicted that a transformational leadership style enhances employees' work engagement through the mediation of self-efficacy and optimism, on a day-to-day basis. Fortytwo employees first filled in a general questionnaire, and then a diary survey over five consecutive workdays. The results of multilevel analyses offered partial support for our hypotheses. Daily transformational leadership related positively to employees' daily engagement, and day-levels of optimism fully mediated this relationship. However, daily self-efficacy did not act as a mediator. These findings expand theory and previous research by illuminating the role of transformational leaders in fostering employee work engagement

Modelling job crafting behaviours: Implications for work engagement

In this study among 206 employees (103 dyads), we followed the job demands–resources approach of job crafting to investigate whether proactively changing one’s work environment influences employee’s (actor’s) own and colleague s (partner’s) work engagement. Using social cognitive theory, we hypothesized that employees would imitate each other’s job crafting behaviours, and therefore influence each other’s work engagement. Results showed that the crafting of social and structural job resources, and the crafting of challenge job demands was positively related to own work engagement, whereas decreasing hindrance job demands was unrelated to own engagement. As predicted, results showed a reciprocal relationship between dyad members’ job crafting behaviours – each of the actor’s job crafting behaviours was positively related to the partner’s job crafting behaviours. Finally, employee’s job crafting was related to colleague’s work engagement through colleague’s job crafting, suggesting a modelling process

Hunger: Beyond the Reach of the Invisible Hand

The work described in this report differs from many others in that the analysis of policies is based on a common integrated framework. It shows why hunger persists, why many policies advanced in popular literature do not work, and what kind of policies can work. Although based on analyses using a quantitative, sophisticated system of models, the book is addressed to the nontechnical layman and to the general reader. The arguments go beyond economic and technical analysis and deal with political and moral aspects. The authors show that solutions that rely only on the market mechanism do not work to eliminate hunger rapidly enough. This analysis shows that even policies that try to intervene, modify, and distort the market do not help to reduce hunger effectively if they rely on the market mechanism