Assessing information integration processes: a comparison of findings obtained with between-subjects designs versus within-subjects designs

Quality & Quantity - Within-subject designs (WSDs) remain unpopular in psychology. Social psychologists have argued that they create “demand” and “order” effects....     

Segmenting the Belgian charitable sector: The impact of environmental factors on households' generosity

Research on charitable giving has known a renewed interest over the last years. Despite a recent evolution, the literature remains predominantly Anglo‐Saxon, and studies are consequently conducted in societies marked by a strong charitable giving culture. In that respect, donors are generally considered as isolated individuals, and the impact of social and environmental factors such as public policies, institutional specificities, and punctual events is often underestimated. Moreover, research on generosity often suffers from the absence of reliable data, free of desirability bias. Based on fiscal data of tax returns and gift tax returns provided by the official Belgian statistics bureau, this research investigates individual donating behaviors while considering the influence of environmental determinants on generosity. More specifically, we empirically assess the generosity of Belgian households over a period of 8 years marked by natural disasters, massive calls for public generosity, and changes in tax policies. Among other things, we qualify the results of previous research on the role of age and open the debate on the role of household composition as a variable for segmenting donors. Finally, we propose leads for future research in order to stimulate further academic effort on the topic.     

Stock exchange mergers and market efficiency

The aim of this article is to examine the impact of stock exchange mergers on the degree of informational efficiency. For this purpose, we apply the generalized spectral shape test for the martingale difference hypothesis to the stock returns before and after the 31 domestic and cross-border mergers completed from 1997 to 2011. The test is conducted with moving subsample windows, allowing us to detect the periods of (in)efficiency, and thus to conduct a comparative analysis for pre-merger and post-merger periods. We find that higher levels of efficiency are less frequent than lower levels of efficiency after a stock exchange merger. We also find that the impact on the level of efficiency depends on a range of merger characteristics such as the level of development, size, geographical diversification and industrial diversification of stock exchange.     

On the optimality of a minimum wage: New insights from optimal tax theory

We build a theoretical model to study whether a minimum wage can be welfare-improving if it is implemented in conjunction with an optimized nonlinear income tax. We consider this issue in a framework where search frictions on the labor market generate unemployment. Workers differ in productivity. The government does not observe workers' productivity but only their wages. Hence, the redistributive policy solves an adverse selection problem. We show that a minimum wage is optimal if the bargaining power of the workers is relatively low. However, if the government controls the bargaining power, then it is preferable to set a sufficiently high bargaining power.     

Local economic development: Policy and practice in South Africa

The policy of local economic development (LED) is currently attracting considerable attention in government and development circles in South Africa. This article seeks to critically examine and assess the key contextual considerations which influence LED, its emergence and its chances of success. In this regard, the notions of post‐Fordism and the important role of government are examined. It then outlines and assesses evolving LED policy and practice in the country in the light of current experiences in various centres. The article concludes with an examination of various practical considerations which appear to be affecting the further application of the concept in the country. These issues are deemed to be of relevance to policymakers if LED is to be successfully implemented.     

Welfare effects of the euro cash changeover

Using merged data from the British Household Panel Survey (BHPS) and the German Socio-Economic Panel (SOEP), this paper applies a parametric difference-in-differences approach to assess the real effects of the introduction of the euro on subjective well-being. A complementary nonparametric approach is also used to analyze the impact of difficulties with the new currency on well-being. The results indicate a loss in well-being associated with the introduction of the new currency, with the predicted probability that a person is contented with his/her household income diminishing by 9.7 percentage points. We calculate a compensating income variation of approximately one-third. That is, an increase in post-government household income of more than 30% is needed to compensate for the clear decline in well-being. The reasons for the negative impact are threefold. First, perceived inflation overestimates the real increase in prices resulting in suboptimal consumption decisions. Second, money illusion causes a false assessment of the budget constraint. Third, individuals have to bear the costs from the conversion and the adjustment to the new currency. Moreover, it is thought that losses are higher for persons who have difficulties with the new currency. However, the impact of difficulties in using and converting the new currency is rather small, and the initial problems were overcome within one year of the introduction of euro cash.     

Land, landlords and sustainable livelihoods: The impact of agrarian reform on a coconut hacienda in the Philippines

Agrarian reform has been a key theme on the development agenda of many countries in the Global South for decades. Whilst such interventions are often pursued for political goals and in the interests of empowerment, there is often a mismatch between these goals and the actual outcomes achieved. Within this context, this study investigates the impacts of agrarian reform in Del Rosario, a former coconut hacienda in the Philippines. This is done in an attempt to explore whether agrarian reform has facilitated the creation of sustainable livelihoods among its beneficiaries, in particular, and in their agrarian reform community, in general. The impacts of reform are examined in relation to four themes - economic, social, demographic and environmental. Overall, the study concludes that agrarian reform has not brought about sustainable livelihoods in the former coconut hacienda. People's livelihoods, especially those derived from copra farming, remain at a subsistence level. At most, at an economic level agrarian reform has brought about improved access to land among its beneficiaries. Nevertheless, it has empowered the farmers by giving them greater freedom and has increased their sense of well-being, as well as enabling them to improve their families’ life prospects and strengthen social capital.