Effect of COVID-19 on Household Food Insecurity and Poverty: Evidence from Ghana

Social Indicators Research - Following the outbreak of COVID-19 and its heavy toll on the global community and humanity, a fierce debate on the pandemic and Sustainable Development Goals (SDGs)...     

Whom should we believe? Aggregation of heterogeneous beliefs

We examine the collective risk attitude of a group with heterogeneous beliefs. We prove that the wealth-dependent probability distribution used by the representative agent is biased in favor of the beliefs of the more risk tolerant consumers. Moreover, increasing disagreement on the state probability raises the state probability of the representative agent. It implies that when most disagreements are concentrated in the tails of the distribution, the perceived collective risk is magnified. This can help to solve the equity premium puzzle. We show that the trade volume and the equity premium are positively correlated.

The economics of adding and subdividing independent risks: Some comparative statics results

In this paper we address the problem of determining whether adding independent risks or subdividing them is a good substitute for insurance. Despite the fact that accepting more i.i.d. risks increases total risk, it is shown that some risk-averse decision makers can rationally reduce their demand for insurance by doing so. Similarly, a better diversified portfolio of i.i.d. risky assets can rationally be more insured, even if diversification is a risk-reduction scheme. We derive conditions sufficient to obtain unambiguous comparative statics results. Assuming that absolute risk aversion is decreasing and that the fourth derivative of the utility function is positive, we show that diversification is an exceptionally good substitute for insurance. Under the same conditions, adding independent risks to wealth reduces the demand for insurance on each unit.     

Differences in the Seriousness of Problems and Deservingness of Help: Swedish Social Workers' Assessments of Single Mothers and Fathers

In this vignette study, three hypotheses concerning differencesin social workers’ assessment off single fathers and mothersare tested: first, that single fathers with custody of theirchildren, who have problems similar to those often faced bysingle mothers, are assessed as having more serious problemsthan the mothers; secondly, that single fathers in such a situationtend to be assessed as being less deserving of support thansingle mothers in the same situation; thirdly, that the helpoffered to both sexes follows gender-traditional patterns. Theresults support the hypotheses. The overall problems and mentalhealth tended to be assessed as more serious in the case ofthe father than in the case of the mother. The single fatherwas assessed as being more responsible for his situation. Thesingle mother was assessed as being in need of assistance inmore areas and more varied social welfare measures were recommendedfor her than for the father. Finally, the results also showthat only support which could enable the client to obtain paidwork and be able to pay off the debts on his car was given higherpriority in the case of the father.     

The impact of acquisitions on firm performance: A review of the evidence

This paper presents a review of empirical research on the impact of acquisitions on firm performance. The evidence suggests that, in the short run, acquisitions have at best an insignificant impact on shareholder wealth. Long‐run performance analysis reveals overwhelmingly negative returns, while the evidence using accounting performance measures is mixed. The review also examines the impact of bid characteristics on performance. The acquisition of hostile targets, transactions that are paid for with cash and acquisitions of larger targets are associated with superior (or at least less negative) performance, while there is mixed evidence on the benefits of related acquisitions. A number of recent studies find that acquirers with superior pre‐bid performance tend to experience significant underperformance in the post‐bid period.     

Cross-country determinants of life satisfaction: exploring different determinants across groups in society

This paper explores a wide range of cross-country determinants of life satisfaction exploiting a database of 90,000 observations in 70 countries. We distinguish four groups of aggregate variables as potential determinants of satisfaction: political, economic, institutional, and human development and culture. We use ordered probit to investigate the importance of these variables on individual life satisfaction and test the robustness of our results with Extreme Bounds Analysis. The results show that only a small number of factors, such as openness, business climate, postcommunism, the number of chambers in parliament, Christian majority, and infant mortality, robustly influence life satisfaction across countries while the importance of many variables suggested in the previous literature is not confirmed. This remains largely true when the analysis splits national populations according to gender, income, and political orientation also. We thank Stephen Lea, participants at the 30th IAREP conference in Prague and the referees of this journal for comments on earlier versions. Gilles Winkler provided excellent research assistance.     

加拿大采矿业注重培养技术工人

采矿业面临着内外因素困扰,前进路上步履艰难,外部矿产品价格低迷,内部作业条件与环境恶劣.在这种严峻的情况下,矿业要千方百计克服矿产品开采与加工中的各种困难(挖掘深度加大、矿种品位降低、环保要求严格等等),除了提高生产效率、降低成本,最重要的是加快人才培养,改善人力资源管理.要达到上述目的,依靠传统办法,无法实现.所幸的是,进入21世纪后,以微电子技术为核心的科技进步为此提供了可靠的技术保证.这种需要与可能相结合就会诱导出一场变革,即技术革新,其中矿山自动化是这场变革中的主角.     

Tests of serial independence based on Kendall's process

The authors propose new rank statistics for testing the white noise hypothesis in a time series. These statistics are Cramér‐von Mises and Kolmogorov‐Smirnov functionals of an empirical distribution function whose mean is related to a serial version of Kendall's tau through a linear transform. The authors determine the asymptotic behaviour of the underlying serial process and the large‐sample distribution of the proposed statistics under the null hypothesis of white noise. They also present simulation results showing the power of their tests.