Much Ado About Nothing? Macro-Prudential Ideas and the Post-Crisis Regulation of Shadow Banking

Post-crisis, macro-prudential ideas have challenged the epistemic authority of private risk management technologies, declaring them to be pro-cyclical contributors to systemic risk. This discursive challenge has been most critical of the shadow banking system, where private risk management instruments are central. This challenge, however, has not been translated into regulatory tools which reflect these convictions. This paper studies this process of discursive challenge to (failed) regulatory intervention for the case of the repo-market, the heart of the current shadow banking system. It traces regulatory efforts on the global and EU level from regulatory statements to (lack of) action, documenting both the persistent articulation of macro-prudential ideas challenging private risk-management systems and timid to no regulatory intervention. It links this hiatus to international coordination problems, the need for macro-prudential action to span regulatory communities, involving banking and financial market authorities and disagreements between micro- and macro-prudentially oriented regulators. The lack of evidence and the difficulty to generate it are identified as major impediments for regulatory consensus, further aggravated by ambiguities about the goals of anti-cyclical regulation. Beyond governance problems and the persistent appeal of private risk-management systems, the paper thus points to difficulties operationalizing macro-prudential ideas as a major explanatory factor.     

Bullying and Victimization Among Young Elementary School Children: The Role of Child Ethnicity and Ethnic School Composition

School-aged children with an ethnic minority background are relatively often involved in bullying and victimization, but the role of ethnic composition of schools in this context remains unclear. This study examined the relation between ethnic minority background, ethnic school composition, and bullying behaviour around primary school entry in the Netherlands. The study was based on a 2008/2009 school survey in Rotterdam, a Dutch city where about 50 % of children have a non-Dutch background. For 8523 children, teacher reports of bullying behaviour at age 5–6 years were available. Children with a non-Dutch background had higher odds of being a victim (adjusted OR 1.41, 95 % CI 1.11, 1.80), bully (OR 1.38, 95 % CI 1.20, 1.58) or bully-victim (OR 1.38, 95 % CI 1.19, 1.62) than children of Dutch national origin. Ethnic diversity in schools increased children’s risk of bullying behaviour (e.g. OR_victim per 0.1 increase in 0–1 diversity range = 1.06, 95 % CI 1.00, 1.13), with children of both Dutch and non-Dutch national origin relatively more often involved in bullying in ethnically diverse schools. The proportion of same-ethnic peers in school reduced the risk of bullying among children of Dutch national origin (e.g. OR_victim per 10 % more same-ethnic children = 0.90, 95 % CI 0.83, 0.98), but not among non-Dutch children. In conclusion, ethnic minority background and ethnic diversity within schools are risk factors for bullying among 5–6 year olds. Plausibly, reductions in absolute numbers of bullying events may be obtained with tailor-made interventions in ethnically diverse schools. Such interventions should preferably be offered early in the school curriculum.     

The Best and Worst Times of Life: Narratives and Assessments of Subjective Well-Being by Anamnestic Comparative Self Assessment (ACSA) in the Eastern Cape,South Africa

The Anamnestic Comparative Self Assessment (ACSA) measure of subjective well-being (SWB) aims to reduce the problems of cultural bias and relativity to external standards by allowing people to define the endpoints or ‘anchors’ of the measurement scale. In medical terminology anamnestic denotes ‘based on memory’. The ACSA uses subjects’ memories of the best and worst periods in their lives to define the anchors of the scale. They then assess their current quality of life relative to these personal anchors. The South African pilot study tested the match between self-assessment of SWB with ACSA and the conventional single-item measures of life satisfaction and happiness used in the South African Quality of Life Trends Study and analysed the narratives of the best and worst times of life. The quota sample of 46 consisted of 26 residents of Makana district in the Eastern Cape Province, South Africa, and 20 patients undergoing treatment in the local TB hospital. Mean SWB ratings with all three measures of life satisfaction, happiness and ACSA were between 5 and 6 on a 0–10-point scale. Ratings on all three scales were positively correlated. However, on ACSA the TB patients rated their current SWB 1.84 points lower than the community respondents, suggesting a greater sensitivity of this measure. It was observed that the starting points of the life stories produced by respondents to define the anchor periods for ACSA were related to their current assessment of SWB. A typology was developed that combined the starting point of the life stories with current SWB. The majority of community respondents matched the ‘Achiever’ type who scored positively on ACSA (i.e., above the mid-point of the scale) and whose life stories started with the worst period of their lives and proceeded to the best period. The TB patients were the only respondents to represent the ‘Survivor’ type whose morale had recovered after misfortune in life. ‘Survivors’ started their narratives with the best period in their lives, then moved to the worst (often health-related) one, and gave positive ACSA ratings. Based on the qualitative analysis of narratives, it is concluded that ACSA is a sensitive measurement instrument and therefore particularly useful for monitoring the effects of treatments and social interventions in longitudinal studies. However, further research is required to verify its cross-cultural validity.

A reconstruction of the size and composition of Jewish Holocaust survivors in the Netherlands, 1945

Compared to other countries that have suffered from the Nazioccupation, the destructive impact of the Holocaust on theJewish population has been particularly strong in the Netherlands. This paper gives a demographicreconstruction of the Jewish population in the Netherlands by the end of the war (1945),disaggregated by age and sex. The reconstruction is based on two approaches: a forwardprojection 1941–1945, starting from registration data supplemented by information onHolocaust losses; and a backward projection 1966–1945, starting from an enumerationof Halachic Jews carried out in 1966. The two approaches yieldtwo estimates that are comfortingly similar.     

Chinatown 2.0: the difficult flowering of an ethnically themed shopping area

Right in Amsterdam’s picturesque Canal Zone, on and around Zeedijk, Chinese entrepreneurs have carved out a presence in what seems like the local Chinatown. The businessmen have been targeting Asian and non-Asian customers by offering products that – to an extent – can be associated with Asia, China in particular. Since the early 1990s, individual entrepreneurs and their business organisations have campaigned for official acknowledgement of Zeedijk as an ethnic-only district and for governmental support of the enhancement of Chineseness. Following Hackworth and Rekers. [(2005). “Ethnic Packaging and Gentrification. The Case of Four Neighborhoods in Toronto.” Urban Affairs Review 41 (2): 211–236], we argue that this case challenges traditional understandings of ethnic commercial landscapes. In sharp contrast to the current orthodoxy, which would conceive the proliferation of such an ‘ethnic enclave’ as part of a larger process of assimilation, we have approached Amsterdam’s Chinatown first and foremost as a themed economic space: Chinese and other entrepreneurs compete for a share of the market and in doing also for the right to claim the identity of the area. What is the historical development of the Zeedijk area, how did Chinese entrepreneurs and their associations try to boost Chinatown and negotiate public Chineseness, and how did governmental and non-governmental institutional actors respond to those attempts?     

‘In England,they don’t call you black!’ Migrating racialisations and the production of Roma difference across Europe

This article draws on long-term fieldwork among Slovak Roma migrants, identifying processes through which a haunting figure of the Roma migrant emerges across Europe, to argue for more differentiated accounts of continuing and emerging forms of racialisation. It explores how the movement of Roma (whose bodies are marked by their racialised ‘darkness’ in Slovakia) to Britain granted them a temporary escape from this modality of branding while simultaneously exposing them to different categorisations within a re-configuring classificatory matrix. The article develops the concept of ‘migrating racialisation’ in order to empirically trace how historically developed forms of racialisation in Slovakia migrate across Europe through the movement of Roma and non-Roma migrants from Eastern Europe, as well as through particular forms of knowledge circulating within transnational fields constituted not only by Roma migrants themselves but also by various institutions for ‘managing’ or ‘researching’ ‘the Roma’. This concept allows us to analyse how the recent forms of racialisation simultaneously draw on heterogenous histories and nation-state formations, social conditions and sedimented bodily dispositions, which are re-adjusted to new social conditions, discourses and emerging forms of knowledge produced about Roma migrants over the last decade in British and European contexts.     

Time and exclusion

Drawing on interviews with parents of children with complex disabilities in several school systems in a US state, this paper examines how temporal units such as the school day and school year and practices organized around artifacts like clocks and calendars work as ‘devices of temporal distanciation’ to separate children with disabilities from other children and exclude their families from critical relations with schools. The paper focuses on two kinds of effects: the ways differentiated timetables separate children and the ways constructing school time in bounded, discrete units limits the ability of parents and children to make key elements of their lives visible to the school.     

Value Similarities Among Fathers,Mothers, and Adolescents and the Role of a Cultural Stereotype: Different Measurement Strategies Reconsidered

In research on value similarity and transmission between parents and adolescents, no consensus exists on the level of value similarity. Reports of high‐value similarities coexist with reports of low‐value similarities within the family. The present study shows that different conclusions may be explained by the use of different measurement strategies. In addition, we demonstrate that measured value similarities may be biased by a cultural stereotype, that is, an indirectly measurable phenomenon outside the family most likely attributed to shared cultural experiences. We examined similarities in 8 social–cultural value orientations among fathers, mothers, and adolescents from 433 Dutch families. Results revealed different outcomes when using ordinary correlations (r), absolute difference scores (d), or profile correlations (q). Similarly, different influences of a cultural stereotype were found when applying different measurement strategies. We discuss which measurement strategies are best used under which circumstances and which role the cultural stereotype plays.     

A lost family-planning regime in eighteenth-century Ceylon

Based on Dutch colonial registers (thombos), this paper reconstructs fertility for two districts in Ceylon, 1756–68. It overcomes challenges in data quality by establishing the outer bounds of plausible estimates in a series of scenarios. Among these, total fertility rates (TFRs) averaged 5.5 in one district, but only 2.7 in the other. These figures exclude the victims of infanticide, a custom noted in European travelogues between about 1660 and 1820. Sex ratios among children differed depending on the number of older siblings, and overall, 27?per cent of girls are missing in one district and 57?per cent in the other. There was little significant variation either in the TFR or the sex ratio by socio-economic status, suggesting that poverty was not a key factor in motivating infanticides. Instead, we argue that at least parts of Ceylon had a forward-looking culture of family planning in the eighteenth century, which was lost in subsequent decades.