Productivity in Education: The Quintessential Upstream Industry

Using consistent test score data from the National Assessment of Educational Progress and data on per-pupil spending, I show that the productivity of American public schools fell by approximately half from 1970 to 2000. The most reliable international data also suggest that productivity in American public schools is lower than that of numerous other industrialized countries, including the remaining English-speaking ones, I explore explanations for the decline in productivity, including changing sociodemographics, Baumol's “cost disease,” rising wages of female college graduates, the increasing emphasis on educating disadvantaged children, rising market power, and the education sector's relative decrease in pay for performance. I review evidence that suggests that schools raise their productivity and use of pay for performance when they face competition. I also describe results that indicate that individual teachers have important, distinctive effects on achievement.     

'Them and Us': Social Psychology and 'The New Industrial Relations'

This article sets out to examine the impact of 'new industrial relations' techniques on worker attitudes to management and to worker-management relations. We found 17 case studies of share schemes, profit-sharing, quality circles and autonomous work-groups which reported relevant evidence on worker attitudes. Although workers often welcome new industrial relations techniques, there is very little evidence of any impact on 'them and us' attitudes. Drawing on social-psychological theories of attitude change, the persistence of 'them and us' attitudes can be explained by the ways in which new industrial relations techniques have been implemented and managed in organisations. Workers have often lacked choice over participation in new schemes; there has been a lack of trust between the parties involved, together with inequality in status and benefits and a lack of institutional support for the schemes among senior management. It is argued that these conditions explain the failure of new organisational initiatives to bring about changes in 'them and us' attitudes.     

Car-sharing organizations: The size of the market segment and revealed change in mobility behavior

Car-sharing organizations (CSO) have recently spread throughout central European cities and currently have 20000 members. They lower individual fixed costs of car availability change the incentive structure of private vehicle use by transforming nearly all costs into variable costs. A survey of all current Austrian CSO members is used to identify the characteristics significant of members. A procedure is proposed to quantify urban local market segment potentials and is applied to two residential areas. The net impact of CSOs depends on how the new incentive structure changes mobility behavior. A controlled experiment of voluntary new members was carried out to compare pre-membership and membership trip structure and modal split. Results indicate a substantial reduction of aggregate private vehicle mileage. While the share of trips by car is constant, changes in trip length are observed, with there being different changes for households which previously owned a car and those which did not. Combining behavior impact with market segment size results in the quantification of emission reduction and car ownership reduction (land use demand) due to car-sharing, which is a decentralized demand-side transport policy.     

Voluntary simplicity: an exploration of market interactions

Voluntary simplicity is often considered to be a sustainable lifestyle phenomenon buttressed by environment‐friendly consumption practices. Voluntary simplicity is shaped by the individual as well as the society, and marketplace interactions often impact voluntarily simplified approaches to consumption. Pertinent, therefore, is a consideration of how voluntary simplifiers negotiate the tensions between marketplace interactions and decisions (not) to consume, as the exploration of interactions between consumption and non‐consumption choices has relevant implications for the advancement of sustainable consumption. Specifically, we seek to answer the following question: how have voluntary simplifiers in a rural context negotiated the relationship between voluntary simplicity and market‐based (non‐) consumption? This paper reports on a study of 28 rural voluntary simplifiers to explore the intersections between voluntary simplicity and rural markets. Findings highlight the convoluted nature and the multiple manifestations of voluntary simplicity, while the rural context allows an exploration of such tensions in relation to individual voluntary simplicity, local economy, supermarkets, fair trade and consumer culture.     

Twenty-Five Years of Counting for Nothing: Waring's Critique of National Accounts

Marilyn Waring’s If Women Counted (1988) shows how national income accounting became infused with the patriarchal values dominant during its post–World War II development. This article revisits Waring’s analysis in the light of continued support of gross domestic product as a useful statistic. It explains the historical and personal context for her analysis, emphasizing postwar patriarchal values as well as Waring’s experience as a Member of the New Zealand Parliament (1975–84) and her active engagement with women in developed and developing countries. It illustrates the support If Women Counted gives to reformers and recognizes that change has occurred, including provision for satellite accounts in the United Nations System of National Accounts (UNSNA). Nevertheless, the paper concludes that Waring’s profound challenge to the central framework of UNSNA will continue as long as the system excludes unpaid household work and impacts on the natural environment from its core statistics.     

No-arbitrage Near-Cointegrated VAR(p) term structure models,term premia and GDP growth

The recent macro-finance literature does not agree either about the empirical properties of the expectation part and of the term premium on long-term bonds or about the importance or even the direction of the relationship between the term premium and future economic activity. This paper proposes a two-step approach to handle both problems. First, in a VAR setting, we extract a reliable measure of the term premium by means of averaging estimator techniques aiming at optimally solving prediction problems when highly persistent processes are present and, thus, providing a so called Near-Cointegrated VAR(p) approach. Second, we analyze the dynamic response of GDP to shocks to the term premium by using the New Information Response Function concept. As far as the first problem is concerned, we find that the NCVAR-based term premium measure is rather stable and counter-cyclical, as suggested by interest rates survey-based estimation of yield curve models and by its risk compensation role. Regarding the second problem, we find that an increase in the long-term spread caused by the term premium induces two effects on future economic activity: the impact is negative for short horizons (less than 1 year), whereas it is positive for longer ones.     

Rethinking country effects: robotics,AI and work futures in Norway and the UK

Current debates around robotics and artificial intelligence (AI) are dominated by concerns over the threat to employment, amid widely varying estimates of potential job losses. Countries are expected to fare differently, but there is little comparative research that goes beyond analysing industry and occupational structures. This article rethinks ‘country effects’ by exploring the role of institutions and social actors in shaping technological change in Norway and the UK. Drawing upon interviews with technology experts, employer associations and trade unions, it examines their perspectives on public policy support for the development and diffusion of robotics and AI, along with potential consequences for employment, work and skills. The research indicates significant country differences and the continued relevance of institutions, interests and power in analysing country effects.     

Understanding,modelling and managing longevity risk: key issues and main challenges

This article investigates the latest developments in longevity-risk modelling, and explores the key risk management challenges for both the financial and insurance industries. The article discusses key definitions that are crucial for the enhancement of the way longevity risk is understood, providing a global view of the practical issues for longevity-linked insurance and pension products that have evolved concurrently with the steady increase in life expectancy since s. In addition, the article frames the recent and forthcoming developments that are expected to action industry-wide changes as more effective regulation, designed to better assess and efficiently manage inherited risks, is adopted. Simultaneously, the evolution of longevity is intensifying the need for capital markets to be used to manage and transfer the risk through what are known as Insurance-Linked Securities (ILS). Thus, the article will examine the emerging scenarios, and will finally highlight some important potential developments for longevity-risk management from a financial perspective with reference to the most relevant modelling and pricing practices in the banking industry.     

Teaching proactivity in the entrepreneurial classroom

Abstract

This article examines the extent to which a proactive attitude can be considered a component of the entrepreneurial mindset and can be learned in the entrepreneurial classroom. We test the impact on students’ proactive attitude of two different teaching methods: a teacher-directed approach and a self-directed learning approach. We include group potency and emotions as variables that may moderate proactivity learning outcomes. Our sample is composed of 281 Master students in a French business school. Using a mixed methodological approach, the results demonstrate that the proactive attitude can be learned and that collaborative teamwork, a creative team spirit and positive emotions contribute to its development. We offer guidelines for the pedagogical design of EM education, an alternative tool to assess its impact, and a better understanding of emotional factors associated with group potency in student entrepreneurial teams.     

The influence of perceived management skills and perceived gender discrimination in launch decisions by women entrepreneurs

Our study answers the call for a better understanding of female entrepreneurs in Morocco and the role families play in launch decisions. The purpose of this paper is to analyze the influence of perceived management skills and perceived gender discrimination in obtaining funds on women entrepreneurs’ propensity to start their businesses with or without family members. Drawing upon the family embeddedness and institutional economics theoretical frameworks, perceived high management capabilities are found to increase the likelihood that a female entrepreneur will set up her business with family members. However, when the entrepreneur perceives gender discrimination in obtaining funds, this will negatively moderate this relationship and will make it more likely that a woman will start her business alone or with nonrelatives. This research contributes to the literature by advancing knowledge of the socio-cultural factors, embedded in the family-oriented contextual framework, that affect women entrepreneurs’ ways of starting their businesses. Implications affecting the success of women-owned start-up businesses and public policy implications are discussed.