The effect of marital dissolution on the labour supply of males and females: Evidence from Canada

The literature on divorce and labour supply generally analyzes standard labour supply measures such as annual hours worked. We include hours per day and days per week as two new dimensions of work time, and use a 3-year panel which allows us to address the effects of divorce on five time dimensions simultaneously. For males, we find that divorce can result in short-term labour supply changes as high as 10–20% of pre-divorce labour supply levels, depending on the time dimension and comparator group. For females, our data do not reveal any significant changes in labour supply.     

THE WELFARE COST OF LAWLESSNESS: EVIDENCE FROM SOMALI PIRACY

In spite of general agreement that establishing the rule of law is central to properly functioning economies, little is known about the cost of law and order breakdowns. This paper studies a specific context of this by estimating the effect of Somali piracy attacks on shipping costs using data on shipping contracts in the dry bulk market. To estimate the effect of piracy, we look at shipping routes whose shortest path exposes them to piracy and find that the increase in attacks in 2008 led to around an 8% to 12% increase in costs. From this we calculate the welfare loss imposed by piracy. We estimate that generating around 120 USD million of revenue for Somali pirates led to a welfare loss in excess of 630 USD million, making piracy an expensive way of making transfers.     

Citizenship in Austria,Germany, and Switzerland: Courts,Legislatures, and Administrators1

A common claim has been that liberalization of citizenship policy depends on making policy behind closed doors. I challenge one variant of this line of argument, which regards courts as the primary “countermajoritarian” champion of the expansion of immigrant rights, through a comparison of citizenship policy in Austria, Germany, and Switzerland. In all three countries subnational authorities play a significant role in the administration of naturalization policy. Courts have played more of a “nationalizing” rather than a “countermajoritarian” role. I also show how differences in federal structures affected recent efforts to reform citizenship policy in these countries.     

The financial crisis,investor activists and corporate strategy: will this mean shareholders in the boardroom?

The concept of stakeholder engagement is gaining increasing attention in the mainstream media and may feature as part of a corporation’s strategy for corporate social responsibility. Not only are boards considering how they might engage with key stakeholders, but stakeholders are also pursuing greater participation in the strategic decisions of companies in which they invest. While this is an emerging concept in companies governed by unitary boards, as in North America, the issue of stakeholder engagement in various forms is also entering debate in other countries around the world. In general, however, the idea of shareholder or stakeholder representation on the boards of most UK and Commonwealth companies is anathema. Forces now influencing the development of strategies for stakeholder engagement and the rise of active investors include changing corporate governance rules which give investors more power in the election of directors, the increasing role of pension plans and hedge fund investment groups which have produced investors who keep a close eye on company performance and value, and a sluggish or turbulent stock market as a result of the financial crisis initiated by the credit crunch in the sub-prime mortgage markets. In this paper the phenomenon of stakeholder representation is examined and results of a recent survey conducted among a large sample of New Zealand directors are presented. The findings suggest that these traditionally oriented boards are increasingly inwardly focused and are without an agenda for building and managing shareholder and stakeholder relations. Accordingly, such boards are unlikely to regard stakeholder engagement as a serious strategic issue and are thus also likely to miss significant opportunities in the changed business environment to benefit from stakeholder support.     

The use of DNA typing in forensic science

Controversy has surrounded the use of DNA typing in forensics especially with respect to providing estimates of the frequency of genetically similar individuals in human populations. To address these concerns the National Academy of Sciences has recently produced a report in which specific recommendations are made to alleviate some of this controversy. The reaction of the forensic community to this report is discussed along with many specific concerns about the interaction of the legal and scientific communities.     

Terrorism Risks and Cost‐Benefit Analysis of Aviation Security

We evaluate, for the U.S. case, the costs and benefits of three security measures designed to reduce the likelihood of a direct replication of the 9/11 terrorist attacks. To do so, we assess risk reduction, losses, and security costs in the context of the full set of security layers. The three measures evaluated are installed physical secondary barriers (IPSB) to restrict access to the hardened cockpit door during door transitions, the Federal Air Marshal Service (FAMS), and the Federal Flight Deck Officer (FFDO) Program. In the process, we examine an alternate policy measure: doubling the budget of the FFDO program to $44 million per year, installing IPSBs in all U.S. aircraft at a cost of $13.5 million per year, and reducing funding for FAMS by 75% to $300 million per year. A break‐even cost‐benefit analysis then finds the minimum probability of an otherwise successful attack required for the benefit of each security measures to equal its cost. We find that the IPSB is costeffective if the annual attack probability of an otherwise successful attack exceeds 0.5% or one attack every 200 years. The FFDO program is costeffective if the annual attack probability exceeds 2%. On the other hand, more than two otherwise successful attacks per year are required for FAMS to be costeffective. A policy that includes IPSBs, an increased budget for FFDOs, and a reduced budget for FAMS may be a viable policy alternative, potentially saving hundreds of millions of dollars per year with consequences for security that are, at most, negligible.     

Der Einfluss von people pattern auf die Präferenz für die Gestaltung innerbetrieblicher Diagramme – eine empirische Studie

This paper proofs the impact of the identity in terms of certain not yet scientifically analysed cognitive filters (people pattern) to graphical and visual preferences of human being. Some items based on a people pattern questionnaire have been extracted in order to build up people pattern profiles that maintain people’s chart-type preference. That approach aims the identity driven prediction of the preferred chart-type, used for special business purposes to ease graphical interaction. This model can be used to include the auditor’s visual preferences already in the design process of business charts.     

THE IMPACT OF ECB MONETARY POLICY DECISIONS AND COMMUNICATION ON THE YIELD CURVE

We use intraday changes in money market rates to construct indicators of news about monetary policy stemming separately from policy decisions and from official communication of the European Central Bank, and study their impact on the yield curve. We show that communication may lead to substantial revisions in expectations of monetary policy and, at the same time, exert a significant impact on interest rates at longer maturities. Thereby, the maturity response pattern to communication is hump‐shaped, whereas that to policy decisions is downward‐sloping. (JEL: E43, E58)