Measurement Properties of Constraints to Sport Participation: A Psychometric Examination with Adolescents

Constraint are a major focus of theoretical and empirical study in leisure research. However, analyses of psychometric properties of constraints measures are rare. This study assessed the factor structure and invariance of a leisure constraints measure applied to sport participation among middle school adolescents (ages 11 to 15 years old) using panel data over two time periods nine months apart (N = 2,029). We compared the validity of three baseline models: a theoretical 3-factor model, a 7-factor model, and a second-order factor model. The 7-factor model exhibited a more appropriate measurement model based on fit indices and statistical comparisons. Using the 7-factor model, construct validity and invariance of the model over time (Time 1 and Time 2) was examined by gender, grade level, race/ethnicity, and socioeconomic status. The model was found to be invariant at the factor loading and intercept levels, while there was some evidence of non-invariance at further constrained levels. In general, the 7-factor model appeared to be psychometrically stable and applicable over a range of demographic subgroups, lending evidence to its use as a measure in leisure or sport participation constraint studies that involve socio-demographic comparisons. The findings suggest that while the theoretical structure may be effective in simplifying constraint categories, a more detailed specification using subfactors of the dimensions is better for measurement.     

The relation between wealth and health: Evidence from a world panel of countries

Based on a world sample of countries, this paper presents panel data evidence that documents a U-shaped relation between GDP per capita (wealth) and life expectancy (health). The evidence also shows that excluding the possibility of a nonmonotonic relationship induces erroneous conclusions about the time-varying wealth-health correlation.     

Interest payments and the stability of the government budget deficit in an open and growing economy

Summary This article discusses the basic determinants of stability and instability of the accumulation of public debt in an open and growing economy. Unlike most previous studies which start from the basically short term IS-LM framework, this analysis centers on the long-term dynamics arising from the government budget restraint, the balance of payments restraint and the interaction between growth and income distribution. Several policy regimes for the government's budget are taken into consideration and specific attention is paid to the question of whether monetary and fiscal policy can effectively ensure the stability of the system.Comments by W. Driehuis, S.K. Kuipers and H. Thoben are gratefully acknowledged.     

Growth promoting policies,distribution, and the balance of payments

This paper studies the consequences of growth promoting policies for income distribution, aggregate savings, and the balance of payments in a small open economy. We focus on the case of a reduction in capital income taxation. Then the traditional OLG model, which emphasizes the inter-generational distribution, predicts that both investment and consumption are boosted. It is obvious then that the trade balance deteriorates. However, we show that this result is no longer robust if one allows for heterogeneity of agents within each generation. Then the intra-generational distribution effect, which implies a negative relationship between the share of capital income and aggregate consumption, may cause consumption to decline, and the trade balance to improve. This effect concurs with the classical, or post-Keynesian view on the relationship between distribution and savings. This post-Keynesian effect is, however, important for the short run only; the long-term result for the trade balance is not essentially changed by allowing for intra-generational heterogeneity.     

Unions, progressive taxes, and education subsidies

Progressive income taxes moderate distortionary wage demands by trade unions and thereby reduce unemployment, and at the same time underlie disincentives to acquire skills and decrease labour productivity. Governments can respond by combining progressive taxes with subsidies to investment in human capital. A system of generous education subsidies and steep progressive tax rates is more likely to emerge, the greater the market power of trade unions and the better the ability of governments to influence private education decisions. Empirical analysis for several OECD countries provides results consistent with these propositions. A policy mix of high education subsidies and relatively progressive income taxes is found in countries where union membership is significant.     

Endogeneity in European money demand

European wide monetary aggregates constructed from pre-unification data cannot be used as evidence that money demand in the euro area is stable. To overcome the Lucas critique, we apply the standard foreign exchange rate model. Since the uncoordinated country specific money supply system is abolished, the increased comovement between local monetary aggregates leaves little room for a free ride on the law of large numbers. Current monetary policy decisions must be based on untested relations, and given ‘the long and variable lags’, we conclude that the road towards monetary stability is a non-activist steady money supply policy.     

Heavy tails of OLS

Suppose the tails of the noise distribution in a regression exhibit power law behavior. Then the distribution of the OLS regression estimator inherits this tail behavior. This is relevant for regressions involving financial data. We derive explicit finite sample expressions for the tail probabilities of the distribution of the OLS estimator. These are useful for inference. Simulations for medium sized samples reveal considerable deviations of the coefficient estimates from their true values, in line with our theoretical formulas. The formulas provide a benchmark for judging the observed highly variable cross country estimates of the expectations coefficient in yield curve regressions.     

Goal congruence: fitting international assignment into employee careers

This research investigates how the quality of the relationship between sending supervisors and expatriates is related to turnover and performance. Utilizing goal congruence and leader–member exchange (LMX) theories, it is hypothesized that the quality of the relationship between sending supervisors and expatriates mediates goal congruence and the two outcome variables: performance and turnover intentions. The goal examined is the degree to which the expatriation fits into expatriates' career paths at the firm. Regression analysis is used to test the hypotheses with a sample of 44 matched sending supervisor–expatriate dyads. Findings indicate that LMX mediates the relationship between goal congruence and performance. Furthermore, goal congruence has a direct negative relationship with turnover intentions. These results suggest that sending supervisors significantly influence the success of expatriate assignments.