Fertility and Life Satisfaction in Rural Ethiopia

Despite recent strong interest in the link between fertility and subjective well-being, the focus has centered on developed countries. For poorer countries, in contrast, the relationship remains rather elusive. Using a well-established panel survey—the Ethiopian Rural Household Survey (ERHS)—we investigate the empirical relationship between fertility and life satisfaction in rural Ethiopia, the largest landlocked country in Africa. Consistent with the fertility theories for developing countries and with the sociodemographic characteristics of rural Ethiopia, we hypothesize that this relationship varies by gender and across life stages, being more positive for men and for parents in old age. Indeed, our results suggest that older men benefit the most in terms of life satisfaction from having a large number of children, while the recent birth of a child is detrimental for the subjective well-being of women at reproductive ages. We address endogeneity issues by using lagged life satisfaction in ordinary least squares regressions, through fixed-effects estimation and the use of instrumental variables.     

Spatial Risk Analysis of Power Systems Resilience During Extreme Events

The increased frequency of extreme events in recent years highlights the emerging need for the development of methods that could contribute to the mitigation of the impact of such events on critical infrastructures, as well as boost their resilience against them. This article proposes an online spatial risk analysis capable of providing an indication of the evolving risk of power systems regions subject to extreme events. A Severity Risk Index (SRI) with the support of real‐time monitoring assesses the impact of the extreme events on the power system resilience, with application to the effect of windstorms on transmission networks. The index considers the spatial and temporal evolution of the extreme event, system operating conditions, and the degraded system performance during the event. SRI is based on probabilistic risk by condensing the probability and impact of possible failure scenarios while the event is spatially moving across a power system. Due to the large number of possible failures during an extreme event, a scenario generation and reduction algorithm is applied in order to reduce the computation time. SRI provides the operator with a probabilistic assessment that could lead to effective resilience‐based decisions for risk mitigation. The IEEE 24‐bus Reliability Test System has been used to demonstrate the effectiveness of the proposed online risk analysis, which was embedded in a sequential Monte Carlo simulation for capturing the spatiotemporal effects of extreme events and evaluating the effectiveness of the proposed method.     

NOT ALL BANKS ARE EQUAL: COOPERATIVE BANKING AND INCOME INEQUALITY

This paper studies the role of different types of credit institutions in income inequality. By analyzing Italian local (provincial) credit markets over the 2001–2011 period, we find that cooperative banks mitigate income inequality in local communities more than their commercial counterparts. The results also suggest that it is the specific nature and orientation of cooperative banks, more than their relationship lending technologies, that improve income distribution. The impact of cooperative banking on inequality appears however to be partly channeled by a reduced dynamism of local economies, especially lower migratory flows and business turnover. (JEL G21, G38, O15)     

Beyond black and white: the role of media in portraying and policing migration and asylum in Italy

This paper investigates the media’s role in shaping perceptions and policies concerning the so-called migrant crisis as well as how this affects solidarity with newcomers, specifically focusing on Italy. The first part of the paper examines the coexistence of the humanitarian narratives of saving lives and the spectacle of militarised borders. It unveils how the daily transmission of sensationalist and stereotyped images of migrants contributes to their transforming into subjects and objects of fear, both experiencing the fear of being rejected and eliminated and inspiring fear in the resident populations. The second part addresses the need for innovative approaches in the construction of a positive public image of migrants and refugees. Through an analysis of several communication campaigns, realised by state and non-state actors for the promotion of social coexistence between citizens and newcomers, this paper calls for a fundamental shift in the way we communicate about migration. A concluding reflection on the challenges and opportunities posed by the arrival of migrants and asylum seekers in our societies, proposes that they should not only be perceived as objects of policies, but should be considered active partners of their own inclusion in the receiving societies.     

Why was the ECB’s reaction to Covid-19 crisis faster than after the 2008 financial crash?

At the time of the financial crises of 2008 and 2010–11 the ECB reacted with an extremely cautious gradualism. This behaviour is attributable to the slower learning process that characterizes a central bank of a monetary union composed of countries with fiscal sovereignty compared to other central banks. In sharp contrast to the previous crises, the ECB reacted promptly to the COVID-19 crisis. This change in behaviour is explained here by the learning process about the effects on monetary policy transmission of the increased financial fragmentation of the eurozone over the last decade.     

On Approximating a Scheduling Problem

Given a set of communication tasks (best described in terms of a weighted bipartite graph where one set of nodes denotes the senders, the other set the receivers, edges are communication tasks, and the weight of an edge is the time required for transmission), we wish to minimize the total time required for the completion of all communication tasks assuming that tasks can be preempted (that is, each edge can be subdivided into many edges with weights adding up to the edge's original weight) and that preemption comes with a cost. In this paper, we first prove that one cannot approximate this problem within a factor smaller than unless P=NP. It is known that a simple approximation algorithm achieves within a ratio of two (H. Choi and S.L. Hakimi, Algorithmica, vol. 3, pp. 223–245, 1988). However, our experimental results show that its performance is worse than the originally proposed heuristic algorithm (I.S. Gopal and C.K. Wong, IEEE Transactions on Communications, vol. 33, pp. 497–501, 1985). We devise a more sophisticated algorithm, called the potential function algorithm which, on the one hand, achieves a provable approximation ratio of two, and on the other hand, shows very good experimental performance. Moreover, the way in which our more sophisticated algorithm derives from the simple one, suggests a hierarchy of algorithms, all of which have a worst-case performance at most two, but which we suspect to have increasingly better performance, both in worst case and with actual instances.     

Tensions and paradoxes of humanitarianism. Dialogue with Lilie Chouliaraki

Lilie Chouliaraki is Professor of Media and Communications at the London School of Economics and Political Science. She has a background in Languages and Linguistics and her research has a strong interdisciplinary orientation, drawing on social and cultural theory, moral philosophy and sociology, visual communication and discourse theory. Her main interest lies in understanding how the media shape our ethical and political relationship to distant others; how they inform the ways we witness the vulnerability of these others and the ways we are invited to feel, think and act towards them. In 2006, she published The spectatorship of suffering, which is a seminal piece of work within the field of Media Studies, opening up the domain of mediated suffering studies. In 2013, Lilie published The ironic spectator: solidarity in the age of post-humanitarianism, which was awarded the Outstanding Book of the Year Prize by ICA 2015, and has been widely reviewed and acclaimed. In this recent work, Chouliaraki explores how digital media are today changing the traditional relationship between humanitarian practice and politics, focusing on the ways humanitarian agencies try to - and fail to - combine a dominant market logic with a political vision of justice and social change.     

Rule of law and balance of power sustain US dollar preeminence

In the last few decades, and especially since the financial crisis of 2007–2008, uncertainty about the future of the US dollar has been mounting. A broad-based theoretical debate on the decline of the dollar and its consequences has begun. There is a large body of studies that sees the origin of an international money as a market-led process. In this view, because the United States will very soon lose its economic pre-eminence the US dollar will consequently share its international role with other currencies or even be replaced by the renminbi. In this paper we contest this argument, focusing on the conditions that make a fiat money acceptable in international transactions. Trust in a type of money like this needs an institutional framework that guarantees the property rights of currency holders. This framework implies a high level of rule of law domestically and a high level of state capability in the international balance of power. Since at present no other currency fulfils these two requirements at the same time, the dominance of the US dollar as an international money is going to last.     

Diversity patterns of alien and native plant species in Trieste port area: exploring the role of urban habitats in biodiversity conservation

Nowadays, urban areas play a crucial role in biodiversity conservation and habitat protection despite the constant pressures on which these habitats are subjected. They may even host relatively new plant communities due to the peculiar ecosystem where they vegetate. The port of Trieste (NE Italy) is characterized by a mixed mosaic of intensely human impacted areas (where commercial activities are still ongoing) flanked by abandoned areas where vegetation persists or has spontaneously recovered. In this study, we sampled the whole port area through a stratified random sampling by placing multiscalar nested plots in four different habitats (strata) previously identified by photo-interpretation. Plant species richness and abundance were assessed in each plot. Each species was then classified as native or alien and patterns of species richness and complementarity were compared among habitats. Results show that there is a significant difference in species richness patterns among habitats, while observed patterns are likely to vary at different spatial scales. As expected, urban plots account for most of the alien species in the sampling, while wooded plots cope better with invasion, accounting for a lower alien/native ratio. These results highlight how habitat diversity enhances biodiversity in urban areas and how it could provide an effective filtering effect able to reduce the spread of alien species. In addition, we provide further evidence for the use of multi-scale approaches in order to study the complex relationships between spatial heterogeneity and plant species richness.