DOES HIGH COST OF MORTGAGE DEBT EXPLAIN WHY YOUNG ADULTS LIVE WITH THEIR PARENTS?

Young adults leave their parents' homes at a higher rate in Northern Europe or in the United States than in Southern Europe, with broad implications on labor market mobility and on fertility. We assess if differences in household formation are associated to differences in access to credit by estimating the impact of the cost of a mortgage on the probability that a young adult leaves his or her parents' home. Exogenous changes in the cost of credit are identified using the reform in 1998 and the cancellation in 2002 of Crédito Bonificado, a Portuguese program that provided four different reductions of the interest rate of mortgages signed by low‐ and medium‐income youth. Using a unique data set that links administrative records of debt with the 1998–2004 waves of the Employment Survey, we document three findings. First, borrowing among young adults fell when borrowing costs increased. Second, the elasticity of new household formation with respect to net interest rates lies between −0.8 and −3.3. Third, young adults responded to the increase in mortgage costs by delaying home purchases or by reducing the quality of housing services purchased, but there was only a modest increase of the probability of renting a new accommodation. (JEL: D91, H24, J13)     

Therapeutic residential care in Spain. Population treated and therapeutic coverage

Therapeutic residential care (TRC) is the name given to specialized children's homes for treating cases with severe emotional and behavioural problems that have been placed in residential care. A recent international review has revealed great diversity in the referral criteria of cases and in the models of intervention carried out. The goal of this study is to describe the population treated in these types of facilities in Spain and the therapeutic coverage given. The sample is made up of 215 young people in children's homes, of whom 93 are in TRC. The cases referred to TRC have been in residential care for less time but have gone through a greater number of placements. These young people also exhibit more problems of drug use, and there is a larger percentage of clinical‐range cases in the Child Behaviour Checklist scales of attention problems and aggressive behaviour. Nevertheless, the results of logistic regression indicate that the only variables that significantly increase the probability of being referred to TRC are drug use and changes of care placements. With regard to therapeutic care, there is a higher percentage in the TRC group receiving psychiatric care, and the sessions are also more frequent.     

A decision-theoretical view of default priors

In this article, we outline a simple and intuitively appealing procedure to derive default priors. The main idea is to regard the choice of such a prior as a formal Bayesian decision problem. We also discuss Jeffreys prior and more generally the reference prior of Bernardo (J R Stat Soc B 41:113–147, 1979) from this standpoint.     

Weighted sums of associated variables

We study the convergence of weighted sums of associated random variables. The convergence for the typical $n^{1/p}$ normalization is proved assuming finiteness of moments somewhat larger than $p$, but still smaller than 2, together with suitable control on the covariance structure described by a truncation that generates covariances that do not grow too quickly. We also consider normalizations of the form $n^{1/q}{log}^{1/\gamma }n$, where $q$ is now linked with the properties of the weighting sequence. We prove the convergence under a moment assumption than is weaker that the usual existence of the moment-generating function. Our results extend analogous characterizations known for sums of independent or negatively dependent random variables.     

Consuming Youth: Timorese in the Resistance Against Indonesian Occupation

This article explores the role played by risk-seeking Timorese youth, known as the New Generation (Geraçao Foun), in the resistance movement against Indonesian occupation (1975–1999). It discusses the capture, regimentation and marginalisation of youthful radicalism by the national resistance movement. The paper looks at these processes of youth revolutionary involvement sympathetically though the memories of former participants in the clandestine struggle and is representative of a new reflexive phase in young Timorese' post-colonial self-realisation. This phase is decidedly non-triumphalist, one which dwells on the inability to be ‘recompensed’ for the dreams that were captured and lives that were side-tracked in a conflict that consumed youth.     

Community Service Work,Civic Engagement,and “Giving Back” to Society: Key Factors in Improving Interethnic Relationships and Achieving “Connectedness” in Ethnically Diverse Communities

Abstract

Recently, the topics of community service activity and civic engagement relative to psychosocial benefits have received considerable attention. The current study addresses the relationship between community service activities, interethnic attitudes and individual perceptions of the value, relevance and importance of community service activities. We hypothesized that as subjects (n=40) participated in a variety of community service related activities, their perception of the overall importance of community engagement and interethnic attitudes (i.e., reductions in ethnocentrism) would significantly increase. A paired-samples t test showed significant increases among topics addressing perceptions of the importance of community service work and improvements among interethnic attitudes (p<.007). Results of the study and suggestions for future research are offered.     

Rural-urban mortality in developing countries: An index for detecting rural underregistration

This study begins with a brief analysis of past and present urban-rural mortality in those countries which are presently considered to be developed. The same analysis centers in developing countries, for it is thought that their rural mortality should be greater than their urban mortality. Since available statistics generally show the contrary, a way is presented for constructing possible means of sub-registering vital statistics in some areas of these countries. The index would vary to agree with the system of the registry of vital statistics in a given area. Mexico is used as an example-the result of constructing and analyzing the index is to show in which areas there should be a subregistry of deaths. Finally, the cases of India and Taiwan are analyzed in order to confirm the hypothesis that in developing countries there will be a higher mortality rate in. rural than in urban areas.     

新世纪管理与组织研究面临的挑战

近一个世纪来,管理理论和组织学研究促进了一系列根本性改变的表述,使得管理者们在其职业生涯中必须大量地学习、学习、再学习。人们会认为,在大学商学院里,应该是组织学研究者们而不是其他领域的专家,引导着适应变化环境的新范式的发展。然而,本文将指出组织学范式的研究与经营实践迄今为止基本上是相互分离的。本文还将详细说明,尽管存在着这种分离,经营范式文献对组织学研究和引导它的理论范式还是产生了相当大的影响,特别是在这个“实用知识”越来越受重视的年代。     

A Note on Bias of Closed-Form Estimators for the Gamma Distribution Derived From Likelihood Equations

We discuss here an alternative approach for decreasing the bias of the closed-form estimators for the gamma distribution recently proposed by Ye and Chen in 2017. We show that, the new estimator has also closed-form expression, is positive, and can be computed for n?>?2. Moreover, the corrective approach returns better estimates when compared with the former ones.