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1.
Poverty trapping refers to the fact that poor people in developing countries cannot escape their poverty without help from outside. This is worsened by extreme events, for example, floods or hurricanes, sending people to poverty who have not been poor before. Often, insurance is seen as a way out. This article studies poverty trapping in the context of catastrophic risk and introduces a ruin‐type model, combining deterministic growth with a stochastic loss model. We analyze the properties of the resulting piecewise deterministic Markov process, especially its trapping risk, and discuss for which groups of people insurance can reduce trapping probability. 相似文献
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Sims AC Bowles J Crosby PB Gale BT Hammond J Reimann CW Deming WE Crawford-Mason C Clausing D Galvin RW 《Harvard business review》1992,70(1):126-9, 132, 136-41 passim
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Conventional notions of work and economics are failing our communities. We need to rethink how we can provide a chance for every member of society to secure work and have a minimally decent standard of living. This essay describes an innovative strategy that generates social capital by using a system of bartering time. Time Dollars schemes transform jobless individuals in communities from a burden into assets. People earn Time Dollars by helping others and then use them to buy essential services, purchase goods, and thus play an invaluable part in building and strengthening community. By freeing communities to ask ‘Why not?', Time Dollars mobilise human resources in a host of beneficial ways and open up a whole variety of hitherto unimagined possibilities. 相似文献
4.
The recent global crisis has sparked interest in the relationship between income inequality, credit booms, and financial crises. Rajan (2010) and Kumhof and Rancière (2011) propose that rising inequality led to a credit boom and eventually to a financial crisis in the US in the first decade of the 21st century as it did in the 1920s. Data from 14 advanced countries between 1920 and 2000 suggest these are not general relationships. Credit booms heighten the probability of a banking crisis, but we find no evidence that a rise in top income shares leads to credit booms. Instead, low interest rates and economic expansions are the only two robust determinants of credit booms in our data set. Anecdotal evidence from US experience in the 1920s and in the years up to 2007 and from other countries does not support the inequality, credit, crisis nexus. Rather, it points back to a familiar boom-bust pattern of declines in interest rates, strong growth, rising credit, asset price booms and crises. 相似文献
5.
《Accounting in Europe》2013,10(2):211-234
This paper explores whether the attitude of preparers towards lobbying to a private accounting standard setter is different depending on the regulatory background of the preparers' home country. Prior literature examined the preparers' incentives and characteristics as drivers to participate in the due process of international accounting standard setting, but it did not investigate the impact of the preparers' national regulatory background on participation. As a result of the acceptance of the International Financial Reporting Standards promulgated by the International Accounting Standards Board (IASB) in different countries, preparers who are traditionally accustomed with an accounting standard setting process initiated by governments with few opportunities for formal participation, are now able to participate in a private accounting standard setting process characterised by several possibilities for participation. Comparing survey evidence of Belgian preparers with existing survey evidence of UK preparers, we notice that the participation methods used, the perception on the effectiveness of the participation methods and the reasons for non-participation differ across both groups of preparers. This finding suggests that the national regulatory background of the preparers may affect the behaviour of preparers in their decision to participate in private accounting standard setting. 相似文献
6.
Understanding aggressive risk communication is important because many scientists use this approach and we know little about its effects. Two studies were conducted to assess the effect of exposure to aggressive risk communication by a scientist on respondents’ perceptions of risk communication quality, supportive behavior (i.e. forwarding the communication), risk communicator likability, and overall views about scientists. Perceived aggressiveness (studies 1–2) and expectation violation (study 2) were considered as mediators. Analyses suggest both direct and indirect negative effects of aggressive risk communication in the case of likability but potentially positive effects in terms of evaluating the message quality. Moreover, expectation violation provided one possible explanation for the effect of aggression. 相似文献
7.
Karen Hurley 《Futures》2008,40(7):698-701
Futures studies (FS) has not taken up food as a topic to any degree perhaps because of complexity, gender, urban bias, professional bias, cultural diversity, and fear. But there is a need and responsibility for FS scholars and practitioners to consider the growing and preparation of food in our work. Today's movements in food security, organic farming and Slowfood can direct us towards futures based in healthy, diverse, and joyful communities. 相似文献
8.
In this paper, we look for long‐run and short‐run effects of fiscal deficits on economic growth and welfare in a standard endogenous growth model. We show that, under very general hypotheses, the ‘golden rule of public finance’, which allows a government to run public‐investment‐oriented fiscal deficits, leads to a lower balanced‐growth path in the long run, and eventually in the short run, compared with balanced‐budget rules. Welfare effects are more difficult to assess, and depend on the form of the utility function. Our model shows that debt rules such as the golden rule may improve (if the consumption elasticity of substitution is ‘low’) or weaken (if the consumption elasticity of substitution is ‘high’) intertemporal welfare. Consequently, a balanced‐budget rule does not necessarily dominate debt rules from the point of view of welfare, while it does from the point of view of long‐run economic growth. 相似文献
9.
Norway is the first, and so far the only, country to mandate a minimum fraction of female and male directors on corporate boards. We find that after a new gender balance law surprisingly stipulated that the firm must be liquidated unless at least 40% of its directors are of each gender, half the firms exit to an organizational form not exposed to the law. This response suggests that forced gender balance is costly. The costs are also firm-specific, because exit is more common when the firm is non-listed, successful, small, young, has powerful owners, no dominating family owner, and few female directors. These characteristics reflect high costs of involuntary board restructuring and low costs of abandoning the exposed organizational form. Correspondingly, certain unexposed firms hesitate to become exposed. Overall, we find that mandatory gender balance may produce firms with inefficient organizational forms or inefficient boards. 相似文献
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Integrated reporting (<IR>) is an emerging international corporate reporting initiative to address limitations to extant corporate reporting approaches, which are commonly criticized for being both voluminous and disjointed. While <IR> is gaining in popularity, current momentum has been limited due to a lack of clear evidence of its benefits. Utilizing the most suitable setting currently available, being discretionary disclosures made by listed companies on the Johannesburg Stock Exchange, this study provides evidence that analyst forecast error reduces as a company's level of alignment with the <IR> framework increases. Further, the improved alignment is associated with a subsequent reduction in the cost of equity capital for certain reporting companies. The results are obtained after controlling for factors relating to financial transparency and the issuance of standalone non‐financial reports, which suggests that <IR> is providing incrementally useful information to the capital market over and above existing reporting mechanisms. 相似文献
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Lisa Koonce 《Accounting & Finance》2013,53(4):1021-1028
This article provides a critique of the Rose, Rose, and Norman (2013) article. It focuses on four issues: (i) whether institutional details have been appropriately captured; (ii) whether experiments are an appropriate method to answer the authors' research question; (iii) whether the authors' hypotheses should predict an interaction; and (iv) whether the authors have relied on the appropriate theory. 相似文献
14.
This paper assesses the extent to which the US bankruptcy system is effective in providing small businesses a “fresh start” after a bankruptcy filing. I use data from the 1993, 1998 and 2003 National Survey of Small Business Finances to explore how firms fare after a bankruptcy filing. On the positive side, previously bankrupt firms are not any more burdened than the average small firm by problems relating to profitability, cash flow, health insurance costs, or taxes. Further, the fact that these firms are surviving several years after the filing is itself a testament to the efficient functioning of the US bankruptcy system. It suggests that the bankruptcy system goes a long way toward helping businesses recover after a bankruptcy filing. 相似文献
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Laurent Lamy 《The Rand journal of economics》2013,44(2):194-214
Of primary importance in auction design is the set of strategies available to the seller at the auction stage. We first formalize hold‐up regarding entry costs that preys on second‐price auctions when the seller may engage in a costly shill‐bidding activity. We derive the optimal reserve and show how shill bidding can make posted prices outperforming auctions. Second, we advocate for a new regulation where shills would be banned but with the possibility of canceling sales ex post, which offers some valuable flexibility: the English auction with jump bids implements, then, the first best in general environments. 相似文献
17.
Jordi Serra 《Futures》2010,42(5):496-499
Names are not merely labels. They have meaning and significance, my own life has been shaped by my name. So what we call our schoalrly pursuits and practice is important. I do prospective, not futures studies. This essay explores the significance of the term ‘prospective’ and suggests that it has aspirations of becoming a discipline. 相似文献
18.
Alan Sangster Greg Stoner Giovanna Scataglini‐Belghitar Paul De Lange Brendan O'Connell 《Abacus》2014,50(1):93-106
This paper discusses the nature of the 10 example paragraph entries at the end of Pacioli's bookkeeping treatise. It concludes that these are entries from fledgling banking operations involving one account holder and one borrower who, along with two others, has financial transactions with the account holder. The widely held assumption that they are examples of entries in the Ledger is set aside and it is concluded that, on the basis of the available evidence, they are examples of entries in a Ricordanze, a record book Pacioli described as being used to record items of this type. 相似文献
19.
Mark Hanna 《The Journal of Finance》1968,23(3):520-523
20.
This paper uses microeconomic data from the British Household Panel and General Household Surveys to describe how the distribution of pay differs between the public and private sectors in 1983 and in the early 1990s. Separate analyses by gender and education group reveal that it is women and those with intermediate-level qualifications who do best in the public sector. The large differences between the shapes of the conditional (that is, holding age and education constant) distributions of wages in the public and private sectors are demonstrated using quantile regressions estimated separately for each education group. The paper also exploits the longitudinal structure of the data used to assess how much of these differences can be explained by the unobserved characteristics of individuals. JEL classifications: J31, J45. 相似文献