The global arms trade network 1950–2007

Using SIPRI data on all international transfers of major conventional weapons 1950–2007, we study the relationship between differences in polity and arms trade. To study whether states tend to trade arms within their political vicinity we estimate gravity models of the likelihood of trade at the bilateral level and study the evolution of the global network over time. We find a stable negative relationship between differences in polity and the likelihood of arms trade for the duration of the Cold War, but not in recent years. In line with these results, the global arms trade network changes drastically over the sample period in several respects: it grows more dense, clustered and decentralized over time. The differences between the NATO and Warsaw Pact sub-networks that we find corroborate the common perception that the Warsaw Pact was more strongly centralized around the USSR than NATO around the UK, the US and France.     

Unspanned stochastic volatility in the multifactor CIR model

Empirical evidence suggests that fixed‐income markets exhibit unspanned stochastic volatility (USV), that is, that one cannot fully hedge volatility risk solely using a portfolio of bonds. While Collin‐Dufresne and Goldstein (2002, Journal of Finance, 57, 1685–1730) showed that no two‐factor Cox–Ingersoll–Ross (CIR) model can exhibit USV, it has been unknown to date whether CIR models with more than two factors can exhibit USV or not. We formally review USV and relate it to bond market incompleteness. We provide necessary and sufficient conditions for a multifactor CIR model to exhibit USV. We then construct a class of three‐factor CIR models that exhibit USV. This answers in the affirmative the above previously open question. We also show that multifactor CIR models with diagonal drift matrix cannot exhibit USV.     

On the relation between linearity‐generating processes and linear‐rational models

We review the notion of a linearity‐generating (LG) process introduced by Gabaix and relate LG processes to linear‐rational (LR) models studied by Filipovi? et al. We show that every LR model can be represented as an LG process and vice versa. We find that LR models have two basic properties that make them an important representation of LG processes. First, LR models can be easily specified and made consistent with nonnegative interest rates. Second, LR models go naturally with the long‐term risk factorization due to Alvarez and Jermann, Hansen and Scheinkman, and Qin and Linetsky. Every LG process under the long forward measure can be represented as a lower dimensional LR model.     

Who Bears the Burden of Social Security Contributions in the Netherlands? Evidence from Dutch Administrative Data

This paper sheds light on the incidence of social security contributions (SSC) in the Netherlands. Our unique dataset on earnings inclusive and exclusive of these SSC enables us to apply the methodology by Alvaredo et al. (De Econ. doi: 10.1007/s10645-017-9294-7, 2017) and draw clear conclusions on local incidence. First, our finding of a smooth distribution of gross earnings indicates that both employer and employee do not shift their contributions. This contradicts the standard incidence prediction of full shifting of SSC to employees but corroborates recent findings. Moreover, it is hard to reconcile with the standard static model of labour supply and demand where gross earnings are irrelevant. Second, our finding of a discontinuity in labour costs supports our conclusion of non-shifting and renders out measurement error as an alternative explanation. Overall, these findings suggest that the statutory split matters and that the burden of SSC close to thresholds is borne by employers.     

Don’t feed the trolling: rethinking how online trolling is being defined and combated

ABSTRACT

Trolling involves deliberate, deceptive and mischievous attempts to provoke reactions from other online users. Even though trolling causes problems for marketers and consumers, there has been little discussion about what trolling actually is and how marketers should respond to it. The present conceptual study addresses these gaps. First, we present a working, integrative definition of trolling behaviours, arguing that trolling is substantively different from cyberbullying. Next, we present the challenges of current trolling regulations, showing that trolling is sometimes the result of the regulations themselves. The paper concludes with a presentation of the conceptual model of the manifestation of trolling behaviours. The model informs and assists scholars and marketing practitioners concerned with understanding and addressing trolling.     

Exploring relationships between customer-based brand equity and its drivers and consequences in the hotel context. An impact-asymmetry assessment

The development of customer-based brand equity plays a critical role in tourism. This paper attempts to study which variables contribute to brand equity creation and to examine whether brand loyalty can be considered as a consequence of brand equity in the hotel context. In addition, it seeks to provide more detailed insights into possible asymmetric effects among customer-based brand equity and its drivers and consequences. Four constructs are found to influence significantly brand equity: two perceptual (image and perceived quality) and two relational variables (trust and affective commitment). Additionally, both behavioural and attitudinal components of loyalty are confirmed as brand equity outcomes. The impact-asymmetry analysis reveals that perceived quality does not play a significant role in explaining brand equity, while awareness and trust emerge to have a significant negatively asymmetric impact. The paper is novel as the proposed model includes two new variables that are deemed critical to hospitality research, that is, trust and affective commitment. The relationship structure of the model is new to the literature as loyalty is conceptualized as a consequence of brand equity, thus confirming theoretical assumptions with limited empirical evidence. Finally, it is the first study that examines asymmetric impacts of customer-based brand equity drivers.     

Enacting Masculinities in a Contemporary Subcultural Sporting Event: A Gendered Critique

Sport participation and alcohol consumption have been widely examined in analyses of masculinity and implicated in perpetuating hegemonic masculinity in Western cultures. This article addresses a variant of the “Beer Mile,” a ritualistic event that has emerged as an ancillary to major triathlons in Australia. In this context, the Beer Mile is an unsanctioned event simultaneously fusing sport participation and alcohol consumption, intended as a jocular celebration of athletic achievement. This research utilises a case study research design employing multiple qualitative methods to critique gender-based discursive practices and online discourse surrounding the Beer Mile. Analysis revealed the Beer Mile as a masculine-dominated space reinforcing normative assumptions on gender binaries and hierarchies. Numerous constraints to women's participation and implicit endorsement of the sport-alcohol nexus were identified, which may undermine broader efforts in promoting the sport of triathlon through notions of egalitarianism, inclusiveness, and healthy lifestyles.     

What's the point of European Sectoral Social Dialogue? Effectiveness and polycontexturality in the hospital and metal sectors

Drawing on pragmatism and systems theory, this article analyses how participants in the European Sectoral Social Dialogue in the metal and hospital committees understand its effectiveness. We find that the participants have a broad understanding of effectiveness compared with the European Commission and existing research. Participants do not dismiss the importance of direct effects on working conditions in member states but downplay it in comparison with indirect effects from, and effectiveness in, European Sectoral Social Dialogue. That is, horizontal learning, knowledge sharing and pragmatic bottom-up work to reach consensus are emphasised as more prominent than top-down regulatory effectiveness.     

ICT skills measurement in social surveys: Can we trust self-reports?

Quality & Quantity - Self-reports are the most common way of measuring information and communications technology (ICT) skills in social surveys. Studies comparing self-reported computer skills...     

The Incidence of Pension Contributions: A Panel Based Analysis of the Impact of Pension Contributions on Labor Cost,Wages and Labor Supply

De Economist - One of the key elements in the planned pension reform in the Netherlands is to abolish the implicit subsidy from younger to older workers inherent in pension schemes with age...