What Does a Swiss Franc Mortgage Cost? The Tale of Polish Trust for Foreign Currency Denominated Mortgages: Implications for Well-Being and Health

It is commonly agreed that excessive household financial debts are detrimental to psychological and physical health. Research also demonstrates that housing instability, mortgage indebtedness and mortgage foreclosure negatively influence subjective well-being. In Poland at the beginning of 2015, homeowners with Swiss franc denominated mortgages suffered from an abrupt swing in the Swiss franc/Polish zloty (CHF/PLN) exchange rate, which resulted in considerable increase in the local currency value of their mortgages. These adverse financial circumstances were hypothesised to affect not only household finance but also negatively affect the psychological well-being and physical health of peoples. The 2013 and 2015 waves of the Polish representative household panel ‘Social Diagnosis’ were used to examine impact of the abrupt change in the CHF/PLN exchange rate in Jan. 2015 on well-being and health. Causal inference was investigated using a difference-in-differences matching estimator. Results showed that although impact of Swiss franc appreciation on the mortgage related financial burden was considerable, it did not affect well-being or health outcomes. Any manifestation of adverse effects was absent in the short term, which does not however preclude their long term existence.     

Falling Short of Highest Life Expectancy: How Many Americans Might Have Been Alive in the Twentieth Century?

Life expectancy at birth in the United States during the twentieth century was lower than in many other highly developed countries. We investigate how this mortality disadvantage in the last 100 years translates into the number of hypothetical lives lost and their sex and age structure. We estimate the hypothetical US population if it had experienced in each decade since 1900 the mortality level of the country with the then highest life expectancy and compare the results to the actual figures in 2000. By 2000, the number of additional people who could have been alive had the mortality levels in the United States been as low as those in countries with the highest life expectancy was 66 million. This number is distributed equally between males and females. Suboptimal mortality at reproductive ages is crucial for the cumulative effect of potential lives lost, resulting from premature deaths of women who could still become first‐time mothers or bear additional children. Out of the 66 million additional persons who could have been alive in 2000, 45 million are attributable to those indirect deaths. Although the differences in the composition of the population by sex and age under the two mortality regimes are minor, the majority of people who might have been alive—54 million—were of working age or younger.     

Innovativeness of social economy entities in Poland. An empirical study from the perspective of Positive Organizational Scholarship

The Polish system of tackling social exclusion is based on social economy entities, such as social integration centers and social cooperatives. The aim of the article is to define the essence and conditions of their innovativeness while answering the question to what extent the organizations can make use of management theories created for business entities. The empirical basis for the article are 3 focus group interviews with representatives of social integration centers and social cooperatives operating in Poland. The results suggest that low innovativeness of the entities is, among others, the effect of an authoritarian management style and a lack of care about positive relationships among employees.     

Flattening topologically spherical surface

The problem of optimal surface flattening in 3-D finds many applications in engineering and manufacturing. However, previous algorithms for this problem are all heuristics without any quality guarantee and the computational complexity of the problem was not well understood. In this paper, we prove that the optimal surface flattening problem is NP-hard. Further, we show that the problem of flattening a topologically spherical surface admits a PTAS and can be solved by a (1+ε)-approximation algorithm in O(nlog n) time for any constant ε>0, where n is the input size of the problem.     

A characterization of the bivariate elliptically contoured distribution

The Cauchy distribution of the quotient of two random variables and its independence of the sum of squares of them together with some symmetry assumptions are the characteristic property of the bivariate elliptically contoured measures.     

Optimal Nonparametric Quantile Estimators. Towards a General Theory. A Survey

“Nonparametric” in the title is used to say that observations X ₁,…,X _n come from an unknown distribution F ∈ ? with ? being the class of all continuous and strictly increasing distribution functions. The problem is to estimate the quantile of a given order q ∈ (0,1) of the distribution F. The class ? of distributions is very large; it is so large that even X _nq:n , where nq is an integer, may be very poor estimator of the qth quantile. To assess the performance of estimators no properties based on moments may be used: expected values of estimators should be replaced by their medians, their variances—by some characteristics of concentration of distributions around the median. If an estimator is median-biased for one of distributions, the bias of the estimator may be infinitely large for other distributions. In the note optimal estimators with respect to various criteria of optimality are presented. The pivotal function F(T) of the estimator T is introduced which enables us to apply the classical statistical approach.     

Sing … Then Think: Musical Interventions and Nondeliberative Forms of Practice in Social Work Groups

ABSTRACT

The positive effects of music have been demonstrated worldwide in many fields including social work, psychology, medicine, and education. Musical interventions including music listening, lyric analysis, and singing have also been found effective in group work. This article, guided by Norma Lang’s nondeliberative theory, aims to provide the “why,” “when,” and “how” of incorporating music into social work groups. It also provides the reader with a toolbox of musical interventions and the encouragement to utilize these “artful, actional, and analogic” activities in group work.     

Spillover effects of taxes on government debt: a spatial panel approach

It is claimed that tax policy is neither time- nor space-independent due to cross-border tax base mobility, which induces spillovers. Specifically, fiscal shocks in one country are supposed to have an impact on fiscal policies in other countries. Different types of taxes influence economies differently. This paper addresses the question of their impact on government debt. Within a framework of spatial econometric modeling, we evaluate the impact of capital, labor and consumption taxes on public debt in 34 European countries in 2002–2011, and find strong spatial spillovers. We show that a consumption tax and, to a lesser degree, a capital tax significantly affect the sovereign debt, and that the global relations play a leading role (i.e. dominate the local ones) in shaping fiscal policy.     

Estimation of the quantile function using Bernstein–Durrmeyer polynomials

This paper studies quantile estimation using Bernstein–Durrmeyer polynomials in terms of its mean squared error and integrated mean squared error including rates of convergence as well as its asymptotic distribution. Whereas the rates of convergence are achieved for i.i.d. samples, we also show that the consistency more or less directly follows from the consistency of the sample quantiles, such that our proposal can also be applied for risk measurement in finance and insurance. Furthermore, an improved estimator based on an error-correction approach is proposed for which a general consistency result is established. A crucial issue is how to select the degree of Bernstein–Durrmeyer polynomials. We propose a novel data-adaptive approach that controls the number of modes of the corresponding density estimator. Its consistency including an uniform error bound as well as its limiting distribution in the sense of a general invariance principle are established. The finite sample properties are investigated by a Monte Carlo study. Finally, the results are illustrated by an application to photovoltaic energy research.