The statistical significance of a change in concentration

This note examines statistical tests for the significance of a change in the logvariance measure of concentration between two points in time. The note points out flaws in two existing tests, proposes a correct test, and provides an empirical example.     

Living to 100 and beyond--implications of longer life spans

The challenge of longer life spans will center on the problem of allocating individual, family and social resources most effectively. To create a context for understanding the significance of measuring and forecasting mortality trends, this article addresses concerns about the implications of increasing longevity to very high ages for families, businesses and society as a whole.     

Asymmetries between Rich and Poor Countries in Financial Crisis Responses: The Need for a Flow-of-Funds Approach

This paper focuses on the manner in which interest rates have been raised to, and sustained at, extremely high levels in developing and emerging market economies as a consequence of recent financial crises. By contrast rich market economies have typically lowered interest rates and injected liquidity in response to incipient financial crises. The paper first sketches the logic that lies behind extremely high interest rates (nominal and real) as an element of crisis resolution. It suggests that this reflects a money-phobic view of financial markets and also conflicts with some well-established economics. It then reviews the conventional wisdom about why richer economies have enjoyed sustained price stability in recent years and why this in turn has allowed their monetary authorities to be relaxed about injecting additional liquidity in response to LTCM (1998) and September 11 (2001)-type crises. It is pointed out that this conventional wisdom is also money-phobic in that it neglects the build up of corporate and government debt in bond and financial derivative form that has been associated with recent financial developments. This analysis helps to contest the common view that emerging market economies pay a higher price merely because their polices are "bad'. Finally, the paper reviews the manner in which the financial systems of developing and emerging market economies respond to the destabilization created by corrosively high real rates of interest. Even when bankruptcy arrangements are well established, certain new forms of financial flows and instruments are implicit in this response, but are invariably ignored in formal modelling.     

Evaluating a method of integrating generic skills with accounting content based on a functional theory of meaning

This paper documents and evaluates an intervention designed to integrate the learning of selected generic skills, particularly analytical thinking and written communication skills, with the learning of accounting content. The method used was to scaffold practice in analytical thinking skills through specially designed writing activities. Content‐focused learning materials adapted from task‐types currently used to teach language skills were used to facilitate the analysis and interrelation of accounting concepts, principles and problems in interpersonal communicative contexts typical of actual accounting practice. The materials, in three assignments, were designed to incorporate: (i) selected generic skills, taken from those listed by the professional accounting bodies; (ii) writing, both as communication and as an instrument for analytical thinking and learning; (iii) knowledge of accounting concepts and principles; and (iv) awareness of the interpersonal dimensions of professional communication. Overall, students showed improved learning outcomes, with improvements of 19 percentage points for non‐Australian students over the three assignments. We were also able to show significant positive relationships between the assessments of assignments 2 and 3 and performance in the knowledge‐based final examination. Improvements in the quality of learning were shown in students’ improved ability to assess their own work.     

Factors associated with single-vehicle and multi-vehicle road traffic collision injuries in Ireland

Generalised linear regression models were used to identify factors associated with fatal/serious road traffic collision injuries for single- and multi-vehicle collisions. Single-vehicle collisions and multi-vehicle collisions occurring during the hours of darkness or on a wet road surface had reduced likelihood of a fatal/serious injury. Single-vehicle ‘driver with passengers’ collisions occurring at junctions or on a hill/gradient were less likely to result in a fatal/serious injury. Multi-vehicle rear-end/angle collisions had reduced likelihood of a fatal/serious injury. Single-vehicle ‘driver only’ collisions and multi-vehicle collisions occurring on a public/bank holiday or on a hill/gradient were more likely to result in a fatal/serious injury. Single-vehicle collisions involving male drivers had increased likelihood of a fatal/serious injury and single-vehicle ‘driver with passengers’ collisions involving drivers under the age of 25 years also had increased likelihood of a fatal/serious injury. Findings can enlighten decision-makers to circumstances leading to fatal/serious injuries.