Vanishing financial contagion?

While a number of crises in emerging markets generated widespread contagion in financial markets during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some observers to wonder whether contagion might have become a feature of the past, with financial markets now better discriminating between emerging countries with good and bad fundamentals. Available data suggest that the main channels that contribute to transmitting financial crises across countries are – if anything – even stronger today than in the 1990s. Moreover, anticipation by international investors may help to explain the near-absence of contagion in the context of the Argentine crisis. This paper argues that a prudent working assumption is that financial contagion has not vanished.     

Matching Efficiency and Labour Market Reform in Italy: A Macroeconometric Assessment

Abstract. A matching theory approach is used to assess the impact on the Italian labour market of the 1997 Treu Act (legge Treu), which considerably eased the regulation of temporary work and favoured its growth in Italy. We re‐parameterize the matching function as a Beveridge Curve and estimate it as a production frontier, finding huge differences in matching efficiency between the South and the rest of the country. The Treu Act appears to have improved matching efficiency in the North of the country, particularly for skilled workers, but also to have strengthened competition among skilled and unskilled workers, especially in the South.     

Bayesian analysis of multivariate threshold autoregressive models with missing data

In some fields, we are forced to work with missing data in multivariate time series. Unfortunately, the data analysis in this context cannot be carried out in the same way as in the case of complete data. To deal with this problem, a Bayesian analysis of multivariate threshold autoregressive models with exogenous inputs and missing data is carried out. In this paper, Markov chain Monte Carlo methods are used to obtain samples from the involved posterior distributions, including threshold values and missing data. In order to identify autoregressive orders, we adapt the Bayesian variable selection method in this class of multivariate process. The number of regimes is estimated using marginal likelihood or product parameter-space strategies.     

Metabolic impact of shift work

In developing countries, shift work represents a considerable contingent workforce. Recently, studies have shown that overweight and obesity are more prevalent in shift workers than day workers. In addition, shift work has been associated with a higher propensity for the development of many metabolic disorders, such as insulin resistance, diabetes, dislipidemias and metabolic syndrome. Recent data have pointed that decrease of the sleep time, desynchronization of circadian rhythm and alteration of environmental aspects are the main factors related to such problems. Shortened or disturbed sleep is among the most common health-related effects of shift work. The plausible physiological and biological mechanisms are related to the activation of the autonomic nervous system, inflammation, changes in lipid and glucose metabolism, and related changes in the risk for atherosclerosis, metabolic syndrome, and type II diabetes. The present review will discuss the impact of shift work on obesity and metabolic disorders and how disruption of sleep and circadian misalignment may contribute to these metabolic dysfunctions.     

Kinematic analysis of post office employees' workstations

This study analyzed a post office clerk's tasks, comparing two workstation models. The clerk was facing the client in one, and seated at 45 degrees to the counter in the other. We analyzed the most frequent tasks and those presenting the most critical points: 1) payment of a postal order; 2) accepting a registered letter, breaking them down into subtasks. We used an optoelectronic system for kinematic analysis, and calculated the range of motion of the trunk and arms in the three spatial planes. The 45( position required less torsion of the trunk and head when using the printer, placed to the left of the employee. A larger worktop improved the workstation, leaving more room for equipment and allowing the worker to sit frontally to the monitor. However, this solution involved a shorter distance between the worker and the client with longer extension of the shoulder and elbow and less trunk flexion. These findings suggested a modification in the layout that shortens the distance between the worker and client.     

GET OUT THE (COSTLY) VOTE: INSTITUTIONAL DESIGN FOR GREATER PARTICIPATION

We examine two commonly discussed institutions inducing turnout: abstention penalties (used in 32 countries) and lotteries rewarding one randomly chosen participant (as proposed on the 2006 Arizona ballot). We analyze a benchmark model in which voters vary in their information quality and participation is costly. We illustrate that both institutions can improve collective outcomes, though lotteries are a more effective instrument asymptotically. Experimentally, we provide strong evidence for selective participation: lab voters participate more when better informed or when institutionally induced. Lotteries fare better than fines, suggesting that they may be a useful alternative to commonly used compulsory voting schemes. (JEL C92, D72, D02)     

Reassessing Brer Rabbit: friendship,altruism, and community in the folklore of enslaved African-Americans

This article examines the Brer Rabbit trickster tales of enslaved African Americans. It challenges earlier interpretations of scholars who view the world of Brer Rabbit as amoral and anarchic. Lawrence Levine, for example, claimed that friendship was portrayed as a ‘fragile reed’ in the Brer Rabbit tales. Instead, this article argues that Brer Rabbit did not live in an amoral world; rather, he lived in a world of ethical boundaries. Indeed, friendship, altruism, and commitment to vulnerable members of the community were prized – not derided. For enslaved people in the United States, these values were crucial for survival; yet historians have failed to pay sufficient attention to these themes in the tales.     

The relevance of educational poverty in Europe: Determinants and remedies

This paper explores the degree of educational poverty in European countries using data from OECD Programme for International Student Assessment (PISA). This research adopts the class of additive multidimensional poverty measures proposed by Alkire & Foster (2011) and investigates the degree of educational poverty in terms of incidence, breadth, depth and severity. Also, we analyse the impact of students’ characteristics and school-level factors on the probability of being educational poor in various learning dimensions. The findings reveal that between 2006 and 2015 the incidence of educational poverty became more relevant in many European countries, while most of them experienced a reduction of poverty depth and severity. Therefore, several policy scenarios are simulated in order to highlight the school factors that can be activate to alleviate the risk of educational poverty in the European countries that experienced the highest incidence of educational poor student.