Household debt and financial assets: evidence from Germany, Great Britain and the USA

Summary.  We explore the determinants of debt, financial assets and net worth at the household level by using survey data for Germany, Great Britain and the USA. To identify which households are potentially vulnerable to adverse changes in the economic environment, we also explore the determinants of a range of measures of financial pressure: the probability that a household has negative net worth; the debt-to-income ratio; mortgage income gearing; the saving-to-income ratio. Our empirical findings suggest that the poorest and the youngest households are the most vulnerable to adverse changes in their financial circumstances.     

De minimis and equity in risk

Indices and orderings are developed for evaluating alternative strategies in the management of risk. They reflect the goals of reducing individual and collective risks, of increasing equity, and of assigning priority to the reduction and to the equity of high risks. Individual risk is defined as the (random or non-random) level of exposure to a danger. In particular the role of a lower negligibility level is investigated. A class of indices is proposed which involves two parameters, a negligibility level and a parameter of inequality aversion, and several interpretations of the indices are discussed. We provide a set of eight axioms which are necessary and sufficient for this class of indices, and we present an approach to deal with partial information on the parameters.     

The efficacy of using judgmental versus quantitative forecasting methods in practice

In an era where forecasts drive entire supply chains forecasting is seen as an increasingly critical organizational capability. However, business forecasting continues to rely on judgmental methods despite large advancements in information technology and quantitative method capability, prompting calls for research to help understand the reasons behind this practice. Our study is designed to contribute to this knowledge by profiling differences between firms identified as primary users of either judgmental or quantitative forecasting methods. Relying on survey data from 240 firms we statistically analyzed differences between these categories of users based on a range of organizational and forecasting issues. Our study finds large differences in forecast error rates between the two groups, with users of quantitative methods significantly outperforming users of judgmental methods. The former are found to be equally prevalent regardless of industry, firm size, and product positioning strategy, documenting the benefits of quantitative method use in a variety of settings. By contrast, the latter are found to have significantly lower access to quantifiable data and to use information and technology to a lesser degree.     

An Extended Single‐index Model with Missing Response at Random

An extended single‐index model is considered when responses are missing at random. A three‐step estimation procedure is developed to define an estimator for the single‐index parameter vector by a joint estimating equation. The proposed estimator is shown to be asymptotically normal. An algorithm for computing this estimator is proposed. This algorithm only involves one‐dimensional nonparametric smoothers, thereby avoiding the data sparsity problem caused by high model dimensionality. Some simulation studies are conducted to investigate the finite sample performances of the proposed estimators.     

Effect of cigarette smoking on sexual functions,psychological factors,and disease activity in male patients with ankylosing spondylitis

Objective: This study aims to investigate the effect of smoking on sexual functions in AS patients.

Patients and methods: A total of 67 male AS patients with a median age of 34 years (range: 18–57) reporting sexual activity at least for the past 4 weeks period were included. Patients were divided into smokers (Group 1, n?=?47) and non-smokers (Group 2, n?=?20). Fagerström test for nicotine dependence, smoking history, exhaled carbon monoxide test were recorded for smoking AS patients. Visual analogue scale (VAS), Bath Ankylosing Spondylitis Disease Activity Index (BASDAI), Bath Ankylosing Spondylitis Metrology Index (BASMI), Bath Ankylosing Spondylitis Functional Index (BASFI), Ankylosing Spondylitis Quality of Life (ASQoL), International Index of Erectile Function (IIEF), Beck Depression Inventory (BDI) were filled for both groups.

Results: There was no significant difference between smokers and non-smokers in all evaluation parameters. BASMI scores were significantly lower in the mild dependency subgroup as compared to those with moderate or severe dependency (p?=?.005 and p?=?.007, respectively). Total IIEF score and IIEF categories correlated significantly with BASDAI, BASFI, BASMI, ASQoL, pain, fatigue, and cumulative smoking. BDI showed an inverse correlation with the IIEF score and IIEF category (p?r?=?–0.520, p?r?=?–0.508, respectively).

Conclusions: Sexual function in AS patients is associated with the pain, fatigue, disease activity, functional status, quality of life, depression as well as the cumulative exposure to smoking, and that sexual functions tend to decline with increasing degree of cigarette dependency.     

Mapping movement landscapes in South Africa

ABSTRACT

The concept of a movement landscape is used to analyse continuities and changes in popular mobilization since the end of formal apartheid. Focusing on four different episodes of protest since 1997, the article examines their relationship to the ANC movement and traditions, and their organizational forms. It finds a general theme of fluid and ephemeral organization, and a distrust of formal hierarchal organization, that is relatively new in South Africa. The Marikana strikes produced the most far-reaching organizational realignments, while the student struggles generated the most innovative re-imaginings of political forms and discourses. It concludes that although there have been critiques of and challenges to the ANC tradition, and experiments with new forms of organizing, they have not produced alternatives that have lasted or dislodged the dominant approaches defined and popularized by the ANC movement.