Estimating global bank network connectedness

We use LASSO methods to shrink, select, and estimate the high‐dimensional network linking the publicly traded subset of the world's top 150 banks, 2003–2014. We characterize static network connectedness using full‐sample estimation and dynamic network connectedness using rolling‐window estimation. Statically, we find that global bank equity connectedness has a strong geographic component, whereas country sovereign bond connectedness does not. Dynamically, we find that equity connectedness increases during crises, with clear peaks during the Great Financial Crisis and each wave of the subsequent European Debt Crisis, and with movements coming mostly from changes in cross‐country as opposed to within‐country bank linkages.     

The antecedents of tourists’ gaming spend: does the brand prestige matter?

This study endeavors to empirically analyse the influential effect among brand prestige, service quality, casino visitor satisfaction and spend. Data from 304 tourists who had travelled to Macau and had participated in gambling activities were used and structural equation modelling and multi-group analysis were employed in hypotheses testing. The findings demonstrated that both brand prestige and perceived service quality are determinants of satisfaction and gaming spend, and that brand prestige also affects service quality positively. Furthermore, past experience moderates the service quality and visitors’ satisfaction relationship, also service quality and visitors’ gaming spend relationship.     

The effect of consumer food creation on the food consumption experience

Two experiments show that the role the consumer plays in the creation of their food can affect the consumption experience. When guilt is present in the consumption of the food item, namely an unhealthy food item, having someone else create the food item increases taste evaluations, attitudes, and behavioral intentions. However, when guilt is not present, as in the case for healthy foods, there is no difference in food evaluations when the end consumer or another creates the food. These results have important implications for food retailers, food service establishment, and food delivery companies.     

The National Collegiate Athletic Association Cartel: Why it Exists,How it Works,and What it Does

In this essay we consider why American colleges and universities participate in big-time commercialized intercollegiate sports, and how sports came to play such a prominent role on American college and university campuses. We also review how the National Collegiate Athletic Association (NCAA) developed as a body to regulate player safety and transformed itself into an economic regulator, the means by which the NCAA attempts to maintain its control, increase revenues, and reduce costs for college sports programs. We also examine how the organization succeeds in the face of institutional characteristics that imply that its cartel activities would be doomed. Finally, we speculate on what changes might be on the horizon for the NCAA and college athletics.     

Patterns of poverty among elderly Americans: a latent class Markov model

This article studies poverty persistence and the role of social security programmes on poverty among elderly in the US. We use a Latent Markov model to disentangle unobserved heterogeneity and state dependence. Because of its dynamic nature, unobserved heterogeneity is modelled to vary over time. This allows to capture different latent states of poverty that change over time. Result indicates the existence of three unobserved types evolving over time according to their propensity to be poor. Moreover, a strong persistence in poverty especially for women, individuals living alone and ethnic minorities is found. Finally, the estimates indicate that giving social assistance tends to reduce poverty.     

Reorganizing School Lunch for a More Just and Sustainable Food System in the US

Public school lunch programs in the United States are contested political terrains shaped by government agencies, civil society activists, and agri-food companies. The particular organization of these programs has consequences for public health, social justice, and ecological sustainability. This contribution draws on political economy, critical food studies, and feminist economics to analyze the US National School Lunch Program, one of the world's oldest and largest government-sponsored school lunch programs. It makes visible the social and environmental costs of the “heat-and-serve” economy, where widely used metrics consider only the speed and volume of service as productive work. This study demonstrates that such a narrow understanding of the labor of lunch devalues care and undercuts the potential for school food provisioning to promote ecological and feminist goals. Further, it proposes a “high road” alternative and outlines an agenda for reorganizing school food provisioning to maximize care in all its dimensions.     

Frustration-driven process improvement

When employees are empowered to continuously record their employment-related frustrations—doing so on accessible, visually prominent media—process improvement becomes upgraded to operate in a truly continuous mode. Frustrations are a superior target of process improvement in that they get at deep-seated concerns of people who have first-order process awareness and are most directly impacted by process failings. Recording frustrations not only provides a sound basis for pressing on to solutions, but it is also cathartic. The act of recording frustrations prominently on company-sanctioned media provides a positive outlet for the frustrations themselves.     

Local tax interaction and endogenous spatial weights based on quality of life

This paper studied the role of municipal quality of life as a driver of strategic tax interactions among local governments. A number of studies point out the existence of strategic interactions using spatial econometric models in which the spatial weights are mostly based on non-economic criteria or basic economic variables such as per capita gross domestic product (GDP). We propose the more sophisticated well-being indicator of municipal quality of life as the driver for these interactions. To deal with the potential endogeneity, we rely on instrumental variable estimators. The empirical analysis focuses on the main local tax in Spain (property) and on municipalities with more than 50,000 inhabitants, and it confirms the relevance of differentials in quality of life for the understanding of tax choices.     

Drawing care: the illustrated journal’s “path to place”

ABSTRACT

Naturalists argue that the greatest threat to the natural world may be our “extinction of experience” with it. We know that place matters, but what can work to restore care between people and place? In this article, I will argue that illustrated journals can reinvigorate our experience with the world. By including text and image, science and art, illustrated journals incorporate different ways of knowing. Drawing draws us into the world as we pay attention to easily missed details. Writing complements drawing by providing a space for synthesizing or imagining about the observed. Like any skilled practice, journaling transforms our understanding of the world. My illustrated field journals began when I sensed that care for today’s world demanded more tools than what my training as an ecologist, alone, could offer. Illustrated journaling can begin with a few simple drawing and writing exercises – several of which I will describe in this article. As an immersive practice in place, the process of illustrated journals matters more than the product. Page by page, illustrated journals recognize the interpretive encounters so foundational to worldmaking and, in doing so, cultivate the deep attention to, and experience of, the world that is our first step toward care.