scholarly journals Effect of Income Heterogeneity on Valuation of Mortality Risk in Taiwan: An Application of Unconditional Quantile Regression Method

2019 ◽  
Vol 16 (9) ◽  
pp. 1620 ◽  
Author(s):  
Je-Liang Liou
Keyword(s):  
Quantile Regression ◽  
Personal Characteristics ◽  
The Public ◽  
Empirical Results ◽  
Statistical Life ◽  
Unconditional Quantile Regression ◽  
Quantile Regression Analysis ◽  
The Difference ◽  
Hedonic Wage ◽  
Quantile Regression Method

According to theory and existing empirical results, heterogeneity in personal characteristics, with income variation being one of them, affects the marginal willingness to pay (WTP) for reducing fatal risk. In this study, the effect of income heterogeneity on the value of statistical life (VSL) in Taiwan through unconditional quantile regression analysis using the data collected by the “Manpower Utilization Survey” is investigated. The results of this empirical study show that the hedonic wage function that was constructed using empirical data from Taiwan was in line with the general form of non-linear function rather than the semi-log function that has been often used in previous studies, which should have great impact on the estimation of the VSL. The empirical results also show that the estimated VSL of Taiwanese labor varied with the difference in wages, which needs to be taken into account when discussing the public policies using VSL.

scholarly journals The Relationship between Cognitive Impairment and Social Vulnerability among the Elderly: Evidence from an Unconditional Quantile Regression Analysis in China

2019 ◽  
Vol 16 (19) ◽  
pp. 3684 ◽  
Author(s):  
Junkai Zhao ◽  
Xinxin Zhang ◽  
Zongmin Li
Keyword(s):  
Cognitive Impairment ◽  
Quantile Regression ◽  
Social Vulnerability ◽  
Positive Association ◽  
The Elderly ◽  
Quantile Regression Model ◽  
Unconditional Quantile Regression ◽  
Quantile Regression Analysis ◽  
Physical Limitations ◽  
The Relationship

As the global proportion of the elderly population has been growing rapidly, it has become important to better understand the holistic social factors involved in cognitive impairment in the elderly. To investigate the relationship between social vulnerability and cognitive impairment in the elderly, this study applied an unconditional quantile regression model on open source health survey data in China. It was used to estimate the relationship for full sample and subsamples divided by different levels of a specific covariate. It was found that the cognitive impairment had a positive association with social vulnerability, and this relationship is stronger at the higher cognitive impairment quantiles. The cognitive impairment of females and elderly who took less exercise; had lower self-rated health; had greater incidences of depression, chronic diseases, and physical limitations; and consumed less fruit and vegetables, milk and tea were more related to social vulnerability. These results provide some insights into the strategies that could be used by the elderly to decrease the risk of cognitive impairment.

Herding behavior in Islamic GCC stock market: a daily analysis

2018 ◽  
Vol 11 (2) ◽  
pp. 182-193 ◽  
Author(s):  
Mustapha Chaffai ◽  
Imed Medhioub
Keyword(s):  
Stock Market ◽  
Quantile Regression ◽  
Financial Markets ◽  
Stock Returns ◽  
Stock Markets ◽  
Content Type ◽  
Quantile Regression Analysis ◽  
Herd Behaviour ◽  
The Impact ◽  
Quantile Regression Method

Purpose This paper aims to examine the presence of herd behaviour in the Islamic Gulf Cooperation Council (GCC) stock markets following the methodology given by Chiang and Zheng (2010). Generalized auto regressive conditional heteroskedasticity (GARCH)-type models and quantile regression analysis are used and applied to daily data ranging from 3 January 2010 to 28 July 2016. Results show evidence of herd behaviour in the GCC stock markets. When the data are divided into down and up market periods, herd information is found to be statistically significant and negative during upward market periods only. These results are similar to those reported in some emerging markets such as China, Japan and Hong Kong, where stock returns perform more similarly during down market periods and differently during rising markets. Design/methodology/approach The authors present a brief literature on herd behaviour. Second, the authors provide some specificity of the GCC Islamic stock market, followed by the presentation of the methodology and the data, results and their interpretation. Findings The authors take into account the difference existing in market conditions and find evidence of herding behaviour during rising markets only for GCC markets. This result was confirmed after using the quantile regression method, as evidence of herding was observed only in highly extreme periods. Stock returns perform more similarly when market is down in Islamic GCC stock market. Research limitations/implications The research limitation consists in the fact that this work can be extended to compare the GCC stock markets with other markets in Asia such as Malaysia and Indonesia. Practical implications The principal implication consists in the fact that herding behaviour is limited in the GCC markets and Islamic finance can have an important contribution to moderate the behaviour in the financial markets. Social implications The work focusses on the role of ethics in the financial markets and their ability to reduce the impact of behavioural biases. Originality/value The paper studies the behaviour of investors in the Islamic financial markets and gives an idea about the importance of the behaviour in this particular market regarding its characteristics.

scholarly journals Wage Inequality and Return to Education in Indonesia: Quantile Regression Analysis

2018 ◽  
Vol 7 (1) ◽  
pp. 27-44 ◽  
Author(s):  
Restuning Dyah Widyanti
Keyword(s):  
Quantile Regression ◽  
Wage Inequality ◽  
Equation Model ◽  
Return To Education ◽  
Wage Distribution ◽  
Increasing Trend ◽  
Quantile Regression Analysis ◽  
The Government ◽  
Quantile Regression Method ◽  
High Percentile

It is essential to the government to recognize the factors causing the increasing trend of income inequality in Indonesia since the Gini coefficient increased between 1996 and 2016. Moreover, wage inequality, which represented by high percentile and low percentile of income, also shows widening gap since 2003. This study focuses on the factors of wage inequality acceleration through the supply side approach that follows the Mincerian wage equation model. Specifically, this paper aims to investigate the association between the return to education and wage inequality in Indonesia. The quantile regression method is applied to compute the return on the investment at different points of the wage distribution. The main finding is that education contributes to an increasing wage inequality due to the significant variation in the rate of return to education in different quantile and as increasing wage dispersion within the same education.DOI: 10.15408/sjie.v7i1.6071

scholarly journals The Impacts of Non-Fossil Energy, Economic Growth, Energy Consumption, and Oil Price on Carbon Intensity: Evidence from a Panel Quantile Regression Analysis of EU 28

2018 ◽  
Vol 10 (11) ◽  
pp. 4067 ◽  
Author(s):  
Cheng Cheng ◽  
Xiaohang Ren ◽  
Zhen Wang ◽  
Yukun Shi
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Quantile Regression ◽  
Oil Price ◽  
Carbon Intensity ◽  
Fossil Energy ◽  
Empirical Results ◽  
Panel Quantile Regression ◽  
Growth Energy ◽  
Quantile Regression Method

This study investigates some determinants of carbon intensity in 28 countries in the European Union (EU), including non-fossil energy, economic growth, energy consumption, and oil price. A panel quantile regression method, which considers both individual heterogeneity and distributional heterogeneity, is applied in this paper. The empirical results imply that the influences of these determinants on carbon intensity are heterogeneous and asymmetric across different quantiles. Specifically, non-fossil energy can significantly decrease carbon intensity, but shows a U-shaped relationship. Economic growth has a negative impact on carbon intensity, especially for medium-emission and high-emission countries. The effects of heating degree days on carbon intensity are positive, although the coefficients are not significant at low quantiles, they become significant from medium quantiles. Besides, we find an inverse U-shaped relationship between crude oil price and carbon intensity. Finally, several relevant policy recommendations are proposed based on the empirical results.

scholarly journals Marriage Penalty: Unconditional Quantile Regression of Housework Participation in Japan

2019 ◽  
Author(s):  
Kamila Kolpashnikova ◽  
Man-Yee Kan ◽  
Kiyomi Shirakawa
Keyword(s):  
Quantile Regression ◽  
Time Use ◽  
Educational Level ◽  
Leisure Activities ◽  
Japanese Women ◽  
Cross Sectional ◽  
Highly Educated ◽  
Unconditional Quantile Regression ◽  
Marriage Penalty ◽  
Quantile Regression Method

We analyze cross-sectional time-use diaries from the 2011 and 2016 Survey on Time Use and Leisure Activities (Shakai Seikatsu Kihon Chosa) to investigate the association between educational level and housework participation at different quantiles. Using the unconditional quantile regression method, we test whether education is associated with less time spent on housework as the previous research on highly educated people suggests. We find that this hypothesis stands only for non-married Japanese women. On the other hand, among married Japanese women, especially those without children in higher deciles of housework participation, are more likely to increase their participation in housework with the increase in their educational level. The results suggest that in Japan, the institute of marriage places higher expectations on women’s housework participation on married women with higher levels of education.

scholarly journals The Public and Private Sector Pay Gap in Pakistan: A Quantile Regression Analysis

2005 ◽  
Vol 44 (3) ◽  
pp. 271-306 ◽  
Author(s):  
Asma Hyder ◽  
Barry Reilly
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Quantile Regression ◽  
Labour Force ◽  
Wage Distribution ◽  
Pay Gap ◽  
Public And Private ◽  
The Public ◽  
Quantile Regression Analysis ◽  
Public And Private Sector

This paper examines the magnitude of public/private wage differentials in Pakistan using data drawn from the 2001-02 Pakistan Labour Force Survey. As in many other countries, public sector workers in Pakistan tend both to have higher average pay and education levels as compared to their private sector counterparts. In addition, the public sector in Pakistan has both a more compressed wage distribution and a smaller gender pay gap than that prevailing in the private sector. Our empirical analysis suggests that about two-fifths of the raw differential in average hourly wages between the two sectors is accounted for by differentials in average characteristics. The estimated public sector mark-up, ceteris paribus, is of the order of 49 percent and is substantial by the standards of developed economies. The quantile regression estimates suggest that the mark-up was found to decline monotonically with movement up the conditional wage distribution. In particular, the premium at the 10th percentile was estimated at 92 percent as compared to a more modest 20 percent at the 90th percentile.

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