Social interactions and the contemporaneous determinants of individuals’ weight

Obesity and overweight are central issues in the public health debate in most developed countries. In this debate, some of the socio-economic determinants of obesity and overweight are still relatively unexplored. This paper presents an empirical examination of the possible influence of social interactions on contemporaneous obesity and (over)underweight. A joint estimation model for obesity and self-image is applied to a sample for Spain taken from the European Union household panel for 1998. The results suggest that obesity might be in part a social phenomenon connected to individuals’ social life.     

Only the smartest? Motivating job characteristics for all ability levels and their impact on job satisfaction

Using Program for the International Assessment of Adult Competencies data, we explore the relation between cognitive ability, proxied by an explicit test of individual numeracy level and the reported satisfaction of individuals with their job. The paper identifies a relation of individual cognitive ability on job satisfaction interacting with some characteristics of the job related to job complexity, namely job autonomy and learning opportunity in the workplace. We found that individuals with different levels of cognitive ability exhibit different levels of job satisfaction depending on how much learning and job autonomy allows their employment. Individuals with low level of cognitive ability enjoy more their job autonomy than individuals in the top of the ability distribution. The learning effect brings the most profits to the utility of workers from the middle quartiles. Finally, planning is most enjoyed at the top of the distribution. We discuss the implication of these findings from a practical perspective.     

Who was colonized and when? A cross-country analysis of determinants

The process of colonization has shaped the economic and demographic contours of the modern world. In this paper, we study the determinants of the occurrence and timing of colonization of non-European countries by Western European powers. Of particular interest is the role of early development measures that are known to be strong correlates of present-day levels of income. We show that non-European societies with longer histories of agriculture and statehood and higher levels of technology adoption in 1500 were less likely to be colonized, and tended to be colonized later if at all. We also find that proximity to the colonizing powers, disease environment, and latitude are significant predictors of the occurrence and timing of colonization, although their impacts are less robust to choice of country sample. Our models have high explanatory power, and their support for the significance of early development is robust to the use of alternative indicators of early development and disease, to the use of instruments to focus on the exogenous component of early development, and to the joint estimation of the colonization and timing equations to correct for potential selection bias.     

I’m too clever for this job: a bivariate probit analysis on overeducation and job satisfaction in Australia

Using data from the first wave of the Household, Income and Labour Dynamics in Australia data set, this article establishes an empirical relationship between overeducation and workplace satisfaction for Australian adult males in the labour force. In a departure from much of the existing literature, both univariate and bivariate probit models are used to account for potential unobserved heterogeneity. We find that estimates in the univariate probit models are positively biased for three of the six measures of workplace satisfaction studied. This suggests that consideration should be given to the use of bivariate models when studying the determinants of workplace satisfaction and overeducation. Results show, although levels of satisfaction remain high, that across all measures of workplace satisfaction overeducated workers are less satisfied compared to their nonovereducated counterparts. This intimates that satisfaction levels should be viewed from a relative, rather than an absolute perspective. ‘Pleasure in the job puts perfection in the work’ Aristotle 384BC–322BC     

An empirical analysis of ‘acting white’

Using a newly available data set, which allows one to construct a novel measure of a student's social status, we demonstrate that there are potentially important racial differences in the relationship between social status and academic achievement. The effect is concentrated among students with a grade point average (GPA) of 3.5 or higher and more pronounced in schools with more interracial contact. Earlier studies showing a positive relationship between popularity and academic achievement for blacks are sensitive to the inclusion of more continuous achievement measures. We argue that the data are most consistent with a model of ‘acting white’ in which investments in education are taken as a signal of one's opportunity costs of peer-group loyalty, though imprecise estimates make definitive conclusions difficult.     

How important is the type of working contract for job satisfaction of agency workers?

Previous research finds that agency workers are less satisfied with their job than regular workers. This paper analyzes whether this difference can be explained by the duration of the working contract agency workers are employed on. The analysis leads to three results. First, agency workers’ contract type does not explain their lower job satisfaction. Second, agency workers on permanent contracts are significantly less satisfied with their job than regular workers on the same contract. Third, agency workers on fixed-term contracts do not differ in job satisfaction from regular workers on both fixed-term and permanent contracts. The difference in job satisfaction between permanently employed agency and regular workers can partly be explained by changes in the reference point. Overall, the results, however, lend support to the conclusion that agency workers on fixed-term contracts regard their employment as stepping stone while those on permanent contracts appear to be trapped in this type of employment.     

An ex-post analysis of the CME Group’s solution to the 5-year gap issue

In early 2001, the US Department of the Treasury suspended the issuance of 30-year bonds, and then resumed issuing its long paper in early 2006. As a result, there was a 5-year gap in the baskets deliverable into US T-Bond futures contracts expiring before 2016. In 2013, the CME Group raised the issue that grades contending for cheapest-to-deliver status were becoming significantly isolated from the rest of the basket because of this maturity gap. The aim of this article is to provide an ex-post assessment of the approach chosen by the CME Group to address this so-called ‘5-year gap issue’ and to compare its efficiency with that of an alternative solution that was not considered at the time.     

An economic analysis of the Cattlemen’s Beef Promotion and Research Board demand-enhancing programmes

The research reported here addressed two objectives. The first objective was to measure the overall impact of the Cattlemen’s Beef Board as well as eight-specific advertising, promotion and research activities on US beef demand. The second objective was to compute marginal benefit–cost ratios (BCRs) for the eight individual checkoff activities and for the overall programme. The results indicated that Cattlemen’s Beef Board’s Promotion activities increased total domestic beef demand by 15.7 billion pounds in total, or 2.1 billion pounds per year between 2006 and 2014. Collectively, the overall marginal BCR for all Cattlemen’s Beef Board activities was $11.20.     

Does the impact of private education on growth differ at different levels of credit market development?

Using an overlapping generations model, we show that the impact of private financing of education on growth depends on credit market development, being positive when credit markets are adequately developed but negative if sufficiently low levels of credit market development occur alongside relatively high private financing intensities. Employing cross-country data, we find that reduced-form growth relationships are statistically significant and robust under various controls and samples. We also lay out conditions under which economies with missing credit markets are dynamically efficient and outperform, in terms of growth, economies with complete credit markets. The latter may explain large cross-country differences in savings and growth, while facilitating the evaluation of policies on financing education.     

How do the determinants of firm survival change in the course of the industry life cycle? A fuzzy-set analysis

Industry life-cycle research on firm survival often tests the effects of innovativeness, entry timing, and experience from related industries. However, findings on how these effects change over different stages of the life cycle are scarce. To fill this gap, we perform a fuzzy-set qualitative comparative analysis on a data-set of 58 video game device producers in six product generations. We find that innovation provides a consistent survival advantage only in the mature stage of the life cycle. We also find that experience accumulated within the industry loses its value in the mature stage, and the advantage shifts to de alio entrants only after shake-out. These findings are discussed relating to technological uncertainty, the role of internal and external knowledge, and the construction of sufficient technological performance.     

On the informative value of the EU-wide stress tests and the determinants of banks’ stock return reactions

Empirica - We examine the informative value of the 2016 and 2018 supervisory EU stress tests on the basis of bank stocks and Credit Default Swaps’ abnormal returns behavior. Our conclusions...     

You can’t always get what you want: gender differences in job satisfaction of university graduates

Previous literature stressed on the gender differences in job satisfaction and the factors influencing the job satisfaction of men and women. Two rationales are usually provided for the finding that women tend to be relatively more satisfied with their jobs than men although disadvantaged in labour markets: first, women may have relatively lower expectations of career and income, and second, they may attach relatively less importance to extrinsic rewards than men. In order to analyse whether substantial gender differences exist already at the beginning of the career, we employ information of over 20 000 graduates collected through a large-scale survey of German university graduates who recently entered the labour market. We find that the job satisfaction of female graduates is on average slightly lower than the job satisfaction of male graduates, but our results do not point to substantial gender differences. In our sample of highly qualified individuals, men and women are very similar in what they want from their jobs and also in their perceptions of what they get. While our results point to substantial similarity of men and women in the early career stage, gender differences may emerge at later stages of the career life cycle.     

Self-serving legislators? An analysis of the salary-setting institutions of 27 EU parliaments

It is often criticized in public debates that politicians in many jurisdictions have the power to set their own salaries. This paper scrutinizes this practice from a constitutional political economy perspective. A novel dataset is presented which provides an empirical overview of the methods used to set the pay for members of parliament (MPs) in the national parliaments of 27 member states of the European Union. There is considerable cross-country variation in this respect. While in the majority of national legislatures MPs to some degree decide on their own salaries (i.e., ‘self-service’ model), in some systems MP pay is set by bodies independent from MPs. A multiple regression analysis provides empirical support for the self-serving-legislators prediction derived from Public Choice theory: controlling for population size and living costs, salaries are systematically higher in legislatures in which MPs have some say in their own salaries. However, this result has to be interpreted with caution as (1) independent wage-setting bodies exist only in five parliaments, and (2) this study could only include MPs’ basic salaries.     

An econometric analysis of veterans’ health care utilization using two-part models

Based on the 1992 US National Survey of Veterans, we analyzed veterans inpatient and outpatient health care utilization patterns by estimating count data two-part hurdle models. We also identified factors that affect veterans choice of health care between VA and non-VA facilities using count data selection models. Not surprisingly, we found that health condition measures are the most important factors in determining veterans health care utilization. Gender, disability, and employment status are also significant. Veterans with lower socio-economic status, without other health insurance coverages, or living near VA health care facilities are more likely to use VA health care system for outpatient visits and inpatient admissions. Our study underscores the role of alternative sources of health care and insurance in discerning the true effects of the explanatory variables on an individuals total demand for health care and its allocation between alternative providers.Jel classification: C35, I12, H51This research was done under a contract with the VA Health Care Network, Upstate New York (VISN 2). We are grateful to A. Colin Cameron, Diane Dewer, Joe Engelhardt, Terrance Kinal, Hamp Lankford, Frank Windmeijer, and two anonymous referees for helpful suggestions and comments. We alone are responsible for the views expressed, and deficiencies remaining, in the paper.First version received: September 2001/Final version received: February 2003     

An econometric analysis of urban households’ animal products consumption in Turkey

People in developing countries are increasing their consumption from the very low levels of the past, and they have a long way to go before coming near developed country averages. In this study, households’ animal products consumption patterns are analysed by using Linear Approximation of Almost Ideal Demand System (LA/AIDS) and survey data collected from households in urban areas in Turkey. According to the results of the study, annual per capita consumption of animal products were 48.18?kg for milk, 26.89?kg for yogurt, 18.55?kg for cheese, 6.45?kg for meat, 22.11?kg for poultry and 10.05?kg for fish. Price elasticities were found to be lower than 1 for milk, yogurt, cheese, poultry and fish and higher than 1 for meat. Moreover, the impacts of socio-demographic factors on the demand for animal products were found to be very low. Determination of production targets and formulation of polices are possible by obtaining the proper information related to the livestock products.     

Exploring the spatial determinants of children’s activities: evidence from India

This article investigates the choice of children’s activities in India and provides recommendations for areas where policy intervention to promote schooling and combat child labor would be most successful. First, we recognize that child schooling and labor are not the sole activities that children can engage in and include idleness as one of the choices. Second, we use a hierarchical model with spatially correlated random effects to analyze the determinants of the choice of children’s activities. Lastly, we recommend that pro-schooling intervention be implemented in districts with favorable attitudes toward schooling and unfavorable attitudes toward idleness, while anti-child-labor interventions be implemented in districts where attitudes toward child labor are less favorable. We thus identify two groups of Indian districts to target appropriate government interventions.     

Do the best go west? An analysis of the self-selection of employed East-West migrants in Germany

Since the inequality of earnings in East Germany has approached West German levels in the late 1990s, the standard Roy model predicts that a positive selection bias of East-West migrants should disappear. Using a switching regression model and data from the IAB-employment sample, we find however that employed East-West migrants remain positively self-selected with respect to unobserved abilities. This result is consistent with the predictions of our extended Roy model which considers moving costs that are negatively correlated with labour market abilities of individuals. Moreover, we find that wage differentials as well as differences in employment opportunities are the central forces which drive East-West migration after unification.

Does the version of the Penn World Tables matter? An analysis of the relationship between growth and volatility

Abstract .  The Penn World Tables (PWT) are an important data source for cross-country comparisons in economics. The PWT have undergone several revisions over time. This paper documents how countries' output growth rates change across four publicly available versions of the PWT. We show that for some countries the magnitude of the differences is significant and/or the sign of the growth rates changes across versions. Using as an example Ramey and Ramey (1995) , who found growth volatility has a significant negative effect on growth, we demonstrate that conclusions based on one version of the PWT may not hold under another version.     

Import-push or export-pull? An industry-level analysis of the impact of trade on firm exit

Does the selection effect of trade work solely through competition from imports, or does the export market further contribute to firm selection? This paper provides a re-interpretation of the different mechanisms in terms of selection on profitability—rather than productivity—and derives novel predictions regarding the export market and the role of product differentiation. Empirical results for a sample of Danish manufacturing industries confirm the import-“push” hypothesis as well as the export-“pull” hypothesis, but also reveal differences across industries. The selection effect of trade is mainly driven by the “import-push” if product differentiation is high, whereas it is driven by the “export-pull” if goods are homogeneous.