Forced Intercourse,Mental Health,and Human Capital

Previous studies have found evidence that experiencing a traumatic event during childhood or adolescence can interfere with the acquisition of human capital. Drawing on data from the National Longitudinal Study of Adolescent Health, we estimate the effects of being the victim of forced intercourse on the mental health, academic performance, and educational attainment of young women paying careful attention to the role of unobservables at the individual, family, and community levels. Our results suggest that forced intercourse is strongly related to depression. Moreover, there is evidence that the psychological damage caused by forced intercourse leads to reduced academic performance and educational attainment.     

A research agenda for improving national Ecological Footprint accounts

Nation-level Ecological Footprint accounts are currently produced for more than 150 nations, with multiple calculations available for some nations. The data sets that result from these national assessments typically serve as the basis for Footprint calculations at smaller scales, including those for regions, cities, businesses, and individuals. Global Footprint Network's National Footprint Accounts, supported and used by more than 70 major organizations worldwide, contain the most widely used national accounting methodology today. The National Footprint Accounts calculations are undergoing continuous improvement as better data becomes available and new methodologies are developed. In this paper, a community of active Ecological Footprint practitioners and users propose key research priorities for improving national Ecological Footprint accounting. For each of the proposed improvements, we briefly review relevant literature, summarize the current state of debate, and suggest approaches for further development. The research agenda will serve as a reference for a large scale, international research program devoted to furthering the development of national Ecological Footprint accounting methodology.     

Fiscal policies, environmental pollution and economic growth

This paper develops a model of endogenous economic growth with special consideration to the role of productive public expenditure and environmental pollution; and analyses the properties of optimal fiscal policy in the steady state growth equilibrium. We consider the level of consumption as the source of pollution. Government allocates its tax revenue between pollution abatement expenditure and productive public expenditure. Optimum ratio of productive public expenditure to national income is equal to the competitive output share of the public input, when productive public expenditure is depicted as tax revenue minus abatement expenditure. However, the proportional income tax rate exceeds the competitive output share of the public input. There is no conflict between the social welfare maximizing solution and the growth rate maximizing solution in the steady state growth equilibrium. The unique steady state growth equilibrium appears to be a saddle-point when the growth rate is above a critical level and the steady state equilibrium growth rate in the market economy is not necessarily lower than the socially efficient growth rate.     

Mental Health and Wellbeing and Unemployment

This article examines the relationship between mental health and wellbeing and unemployment utilising the 1995 National Health Survey (1995 NHS) and the 1997 National Survey of Mental Health and Wellbeing of Adults (1997 SMHWB) data sets. Three indicators of mental health and wellbeing are adopted. The first is a psychological wellbeing measure derived from responses to questions included in the 1995 NHS on time felt down, happy, peaceful, and nervous (the SF-36 mental health scale). The second indicator relates to diagnoses of mental disorders including substance use disorders, affective disorders and anxiety disorders. Our final indicator relates to suicidal thoughts and plans and (unsuccessful) suicide attempts. On the basis of these measures, unemployed persons exhibit poorer mental health and wellbeing outcomes than the full-time employed.     

Taxation and the Performance of Technology Based Small Firms in the U.K.

This paper analyses a database of U.K. small companies in order to establish the profile of Technology Based Small Firms (TBSFs) in terms of their demography, financial structure and performance, and tax affairs. Following the evaluation of the impact of direct taxation on the high technology small companies, compared to that of their low technology counterparts, the paper briefly discusses the current policy debate about the nature and appropriateness of tax-based incentives for the development of this strategically important scale and type of enterprise.     

Do anti-bribery laws reduce the cost of equity? Evidence from the UK Bribery Act 2010

We examine the impact of the UK Bribery Act 2010 on the implied cost of equity. We find a significant reduction in the cost of equity amongst UK firms with high bribery exposure after the passage of the Bribery Act. We further show that the Bribery Act improves internal control systems and increases stock liquidity of firms with high bribery exposure. Our results suggest that more stringent anti-bribery regulations are not always bad for the firm.     

What do price equations say about future inflation?

Business Economics - This paper uses an econometric approach to examine the inflation consequences of the American Rescue Plan Act of 2021. Price equations are estimated and used to forecast future...     

Introduction to development theory

This article introduces the symposium on economic development theory.     

A nested test of the Barten model of equivalence scales

The Barten model, as the principal equivalence scale model, has considerable policy importance. It has, however, never been subjected to a statistically satisfactory test. This note proposes a simple modelling artefact that allows the Barten model to be nested and tested in the conventional way. Illustrative estimation is, then, carried out on U.K. budget data.     

Inflation and its impact on investment decisions in the hospitality industry

The impact of inflation is more severe in the hospitality industry than in some others because of its high level of capital investment. Proper evaluation of investment returns can only be made if inflation is considered in the evaluation process. This article presents an approach based on the net present value method of investment evaluation which incorporates the anticipated level of inflation and provides for the uncertainties of future cash flows.