An Investigation of the Effect of the 1990 Reserve Requirement Change on Financial Asset Prices

In 1990, the Federal Reserve reduced reserve requirements on large, nonpersonal time deposits and net Eurocurrency liabilities. In this article we provide evidence on who gained from the reduction in this tax. No evidence is found to suggest that large depositors gained by way of higher yields. Rather, evidence indicates a decline in Eurodollar interest rates relative to other money market rates. Evidence further shows that bank shareholders were recipients of abnormal share price appreciation following the announcement. There is little evidence to indicate that shareholders outside of the banking industry experienced similar abnormal gains.     

Credit Scoring and the Availability of Small Business Credit in Low‐ and Moderate‐Income Areas

This paper estimates that credit scoring is associated with about a $3,900 increase in small business lending per sample banking organization, per low‐ and moderate‐income (LMI) area served, and this effect is roughly equivalent to that estimated for higher‐income areas. For our sample, this corresponds to a $536 million increase in small business credit in LMI areas in 1997 than otherwise would have been the case. This effect appears to be driven by increased out‐of‐market lending by banking organizations, as in‐market lending generally declines. Overall, it does not appear that credit scoring has a disparate impact on LMI areas.     

Current and potential methods for measuring emotion in tourism experiences: a review

This study provides an assessment of methods used in existing tourism research to measure emotion and discusses the potential for use of psychophysiological methods such as electro-dermal analysis, facial muscle activity, heart rate response, eye-tracking system and vascular measures. Psychophysiological measurement techniques have been reported in the marketing, advertising and media literature; however, to the best knowledge of the authors, no studies are reported in the tourism literature. Instead, studies of emotion in the tourism literature invariably employ self-report questionnaire methods which capture only tourists' high-order emotions and are subject to a variety of forms of bias. Unconscious emotional responses that can provide unbiased portrayal of individuals' initial emotional reactions when exposed to a stimulus have been largely ignored. The paper concludes that studies combining both self-report and psychophysiological measures are needed and areas for future research are discussed.     

Neglected Rural Public Health Issue： The Case of Intestinal Roundworms

Despite increasing institutional and financial support, certain public health issues are still neglected by the Chinese Government. The present paper examines the soil-transmitted helminth （STH） infection and reinfection rates by conducting a survey on 1724 children in Guizhou Province, China. Our results indicate that 37.5 percent of children had been infected with one or more of the three types of tested STH. However, only 50.4 percent of children reported having taken deworming medicine during the 18-month period before the survey. Of those who reported being dewormed, 34.6 percent tested positive for STH infections. Poverty and number of siblings are significantly and positively correlated with infection and reinfection, and parental education is significantly and negatively correlated with infection and reinfection. Given the ineffectiveness of treatment in these areas to date, for anthelminthic campaigns to actually succeed, China must pay more attention to local- level incentives to improve children＇s health.     

Producing and Procuring Horticultural Crops with Chinese Characteristics: The Case of Northern China

The main goal of our paper is to understand what types of farmers have been able to participate in the horticultural revolution, how they interact with markets and how supply chains affect their production decisions and incomes. We also want to understand if the rise of supermarkets has changed supply chains. Our analysis uses spatially sampled data from 200 communities and 500 households in the Greater Beijing area. In contrast to fears of some researchers, we find small and poor farmers actively participate in the emergence of China’s horticulture economy. Moreover, there has been almost no penetration of modern wholesalers or retailers into rural communities.     

Biology,Complexion, and Socioeconomic Status: Accounting for Nineteenth Century Body Mass Index by Race

Nineteenth‐century US whites were taller than their mulatto and darker complexioned African‐American counterparts, a pattern known as the ‘Mulatto Advantage’. If this pattern was due to social preferences, fairer complexioned whites would have had greater body mass index (BMIs) values. This study shows that late nineteenth‐ and early twentieth‐century US BMIs differed by race, and darker complexions were associated with greater BMI values. Mulattos had greater BMI returns associated with socioeconomic characteristics, indicating that while blacks had greater BMIs than fairer complexioned whites and mulattos, part of the difference was offset by socioeconomic characteristics that favoured fairer complexions.