Sovereign bond holdings and monetary policy operations in the euro area

This paper investigates the relationship between sovereign bond holdings of banks and refinancing operations by the ECB for countries in the euro area. We use data collected by Bruegel as well as a new dataset compiled from the annual statements of national central banks to estimate panel regression models. Our findings support the hypothesis that the ECB’s refinancing operations have increased resident banks’ exposure to domestic sovereign bonds. This is in line with the moral suasion theory advanced in the literature. These results strengthen the case for regulatory changes aimed at reducing the sensitivity of banks to sovereign risk.     

II. „Nicht alles Gute ist auch gleichzeitig zu haben“

Ohne Zusammenfassung     

Fund-raising models at public historically Black colleges and universities

This empirical study examined whether public historically Black colleges and universities (HBCUs) predominantly practiced the press agentry, public information, two-way asymmetrical, two-way symmetrical or mixed motive models of fund raising. The findings reported the heavy usage of press agentry model of fund raising by advancement officers. The most interesting concept emerging from the research was the emergence of a mixed motive model of fund raising. The model describes the practice of fund raising in an adaptable and changing environment and incorporates asymmetrical and symmetrical tactics that describes the actual practice of fund raising.     

Changing American home life: trends in domestic leisure and storage among middle-class families

This study of middle-class American families draws on ethnography and urban economic history, focusing on patterns of leisure time and household consumption and clutter. We trace how residential life evolved historically from cramped urban quarters into contemporary middle-class residences and examine how busy working families use house spaces. Our ethnographic sample consists of 24 Los Angeles families in which both parents work full time, have young children, and own their homes. Formal datasets include systematically timed family uses of home spaces, a large digital archive of photographs, and family-narrated video home tours. This analysis highlights a salient home-storage crisis, a marked shift in the uses of yards and garages, and the dissolution of outdoor leisure for busy working parents. The UCLA Center on Everyday Lives of Families (CELF) is generously supported by the Alfred P. Sloan Foundation program on the Workplace, Workforce, and Working Families. Anthony Graesch assisted with the tables. Additional information about CELF can be found at www.celf.ucla.edu.     

Late,But Not Too Late? Postponement of First Birth Among Highly Educated US Women

We examine the link between the postponement of parenthood and fertility outcomes among highly educated women in the USA born in 1920–1986, using data from the CPS June Supplement 1979–2016. We argue that the postponement–low fertility nexus noted in demographic and biomedical research is especially relevant for women who pursue postgraduate education because of the potential overlap of education completion, early career stages, and family formation. The results show that women with postgraduate education differ from women with college education in terms of the timing of the first birth, childlessness, and completed fertility. While the postponement trend, which began with the cohorts born in the 1940s, has continued among highly educated women in the USA, its associations with childlessness and completed parity have changed considerably over subsequent cohorts. We delineate five distinct postponement phases over the 80-year observation window, consistent with variation over time in the prevalence of strategies for combining tertiary education and employment with family formation.