Gender differences in recollections of economic socialization,financial self-efficacy,and financial literacy

The OECD/INFE international surveys of adult financial literacy (OECD/INFE 2016, 2020) show gender differences in financial literacy in developed countries in Europe. In this study, we examine whether these differences can be explained by gender differences in parental economic socialization using the Dutch 2018 DHS household survey. We investigate whether respondents' recollection of economic socialization when young predict their adult economic behavior and self-assessed financial knowledge. The results from ordinal logit and logistic regressions and for nonlinear equations decompositions reveal gender differences in the recollection of economic socialization and in how socialization practices are related to economic behavior and self-assessed financial knowledge. Men have to a greater degree than women been socialized in terms of having paid work outside the home, while women more often than men report that their parents controlled their spending. Moreover, we find gender differences in how men and women benefitted from the same socialization practices.     

A push to cycling—exploring the e-bike's role in overcoming barriers to bicycle use with a survey and an intervention study

In Norway, as in many countries, there is a political goal to increase bicycle use. The electric bicycle (e-bike) is a promising tool for achieving this goal, given the hilliness of the country. However, little is yet known about the deterrents of cycling in Norway in general, and in particular how the purchase of an e-bike could be stimulated.

In the current study, 5500 respondents from a convenience sample among car owners were asked about their perceptions of bicycling in general, and of e-bikes in particular as well as their willingness to pay (WTP) for an e-bike. Randomly selected participants (N = 66) were given access to an e-bike for a limited time (2 or 4 weeks). A second questionnaire captured the same perceptions and WTP post-intervention. The results were compared with a control group (N = 214).

The results showed that those who cycle the least were most interested in buying an e-bike and that prior knowledge of the e-bike corresponded with a higher desire to buy one. Pro-environmental values did not predict interest in e-bikes, neither did norms and attitudes toward cycling. The WTP for an e-bike increased after having experienced the benefits for those who used an e-bike compared to those who did not. Price reduction of the e-bike (e.g. VAT exemption), spread of knowledge among the wider population, and actions to offer an e-bike experience may therefore be effective strategies for further expansion of the e-bike in the transport system and thereby to increase bicycle use in Norway.     

On commodification: volunteer experiences in festivals†

This paper is about the creation of non-commodified volunteer experiences, for tourists and local volunteers participating in festivals. How is the tourist experience created when most of the traditional tourism demands are not fulfilled? And what are the experiences and how do they relate to different ‘regimes of value’? The experience context includes tourists who work together with locals voluntarily in a festival, where the volunteers pay for their own travel, food, overnight stay, and work for free. To gain more knowledge on the volunteers is important because local cultural life becomes more festivalized, most festivals are reliant on the involvement of volunteers, and the festivals gain an important role in an economy where even small places are engaged in branding [Löfgren, O. 2003. The new economy: A cultural history. Global Networks, 3, 239–254]. This paper uses a qualitative approach. Interviews were conducted (n?=?23) and participants were observed during four festivals in Finnmark, Norway. Nothing in the experiences was facilitated, and the experience creation occurred in the work tasks together with volunteer colleagues. It was like a holiday experience, without a stream of commodified moments. It was a value creation that could be seen as authentic and real, created in the interaction between the local and visiting volunteers.     

Local Democracy Ltd

Abstract

A number of European countries have witnessed a proliferation of local government enterprises in recent years. Norwegian local councillors are seemingly particularly exposed to this ‘enterprise fever’. Our article explores local governments' approaches to the political control of such companies. We observe a reluctance to intervene directly in the affairs of an enterprise, but there is a last-resort preparedness to take more resolute action. Lastly, in contrast to what the prototypical agency model postulates, we find that those who attach strong aspirations of increased capacity to the establishment of companies appear to lack trust in the same companies' performance capability.     

Can student effort be manipulated? Does it matter?

This article provides evidence that college students’ effort can be manipulated substantially by making changes in the college testing regime and moreover that student effort is a meaningful input in education production. The evidence comes from a quasi-experiment where a mid-semester test with a pass requirement is introduced to a mandatory one-semester Business School course in Macroeconomics. Four cohorts of students – one before and three after the introduction of the pass requirement – have reported their study effort twice during the semester, and the relationship between achievement and study effort is investigated by using a within-subject within-student across-study periods approach.     

What money buys: clients of street sex workers in the US

The article presents a review of current theoretical and empirical approaches to sex work, followed by the presentation of an original theoretical framework (Della Giusta et al., 2006), which is tested with an econometric model of the characteristics of demand for sex services by a sample of clients of street sex workers in the US. We present findings in relation to stigma and the relationship between paid and unpaid sex that corroborate our model's hypotheses and are in line with findings from other empirical studies. Furthermore, we identify in our sample two diametrically opposite profiles: one for clients whom we label ‘experimenters’, and one for more experienced ones that we name ‘regulars’, we also estimate attitudes toward risk, and draw implications in terms of both policy and future theoretical and empirical research.     

A stable demand for money despite financial crisis: the case of Venezuela

The demand for broad money in Venezuela is investigated over a period of financial crisis and substantial exchange rate fluctuations. The analysis shows that there exist a long-run relationship between real money, real income, inflation, the exchange rate and an interest rate differential, that remains stable over major policy changes and large shocks. The long-run properties emphasize that both inflation and exchange rate depreciations have negative effects on real money demand, whereas a higher interest rate differential has positive effects. The long-run relationship is finally embedded in a dynamic equilibrium correction model with constant parameters. These results have implications for a policy-maker. In particular, they emphasize that with a high degree of currency substitution in Venezuela, monetary aggregates will be very sensitive to changes in the economic environment.     

Cost structure and capacity in the Norwegian pelagic fisheries

The parameters of the short-run cost function are estimated for three vessel types taking part in the Norwegian pelagic fisheries: purse seine vessels, trawlers, and coastal vessels. The generalized translog functional form is used. Estimates of returns to scale are calculated and the results indicate that there are substantial economies of scale in all vessel classes. It is further investigated whether excess capacity varies with vessel size and age. The analysis suggests increased quotas per vessel to avoid rent dissipation. With the total allowable catch given, the number of participating vessels must be reduced.     

The cointegrated vector autoregressive model with general deterministic terms

In the cointegrated vector autoregression (CVAR) literature, deterministic terms have until now been analyzed on a case-by-case, or as-needed basis. We give a comprehensive unified treatment of deterministic terms in the additive model $X_t=\gamma Z_t+Y_t$, where $Z_t$ belongs to a large class of deterministic regressors and $Y_t$ is a zero-mean CVAR. We suggest an extended model that can be estimated by reduced rank regression, and give a condition for when the additive and extended models are asymptotically equivalent, as well as an algorithm for deriving the additive model parameters from the extended model parameters. We derive asymptotic properties of the maximum likelihood estimators and discuss tests for rank and tests on the deterministic terms. In particular, we give conditions under which the estimators are asymptotically (mixed) Gaussian, such that associated tests are ${\chi }^2$-distributed.