Deposit Insurance,Institutions, and Bank Interest Rates

Many recent institutional reforms of the financial system have relied on the introduction of an explicit scheme of deposit insurance. This instrument aims at two main targets, contributing to systemic stability and protecting depositors. However, it may also affect the interest rate spread in the banking system, which can be viewed as an indicator of either inefficiency or market power in this financial segment. This paper provides an empirical investigation of the effect of deposit insurance and other institutional and economic variables on bank interest rates across countries. We find that deposit insurance increases the lending–deposit spread in banking. The main effect seems to arise not from the deposit side though, but from an increase in the lending rate. We interpret this result as evidence of the presence of moral hazard problems related to this instrument. We also find that higher quality of institutions is associated with lower spreads, thus contributing to eroding sources of market power in the banking sector.     

Making ends meet: perceptions of poverty in Sweden

During the era after the Second World War, Sweden has built a welfare system based on labor market participation and income maintenance. Low unemployment and decent wages are supposed to guarantee people a labor market income or income maintenance, which in turn should provide a proper standard for everyone. However, a rapid increase in unemployment and economic problems have made the future of the Swedish welfare state more uncertain than ever. These circumstances have, among other things, led to the suggestion that Sweden should abandon the income maintenance policy and create a social policy system with the more limited ambition of guaranteeing everyone a minimum income. In that case, one central question must be answered: what constitutes a decent minimum income in today's Sweden? Where should we draw the poverty line under which people will not be forced to live? These questions are central in the current debate. The consensual poverty line method is used in this article to derive a poverty line relevant for today's Sweden. The results shows that more than every fifth household has an income below the consensual poverty line. That is, they have an income that most Swedes would argue is too low to make ends meet. The level of the consensual poverty line was compared with the National Board of Health and Welfare's guidelines for social assistance. The consensual poverty line was shown to be more generous to small households and the norm for social assistance was more generous to larger households. Finally, the expenditure for guaranteeing all Swedish household a minimum income equal to the consensual poverty line was estimated: more than SEK 25 billion per year. The results in the article casts serious doubt on the ability of the Swedish welfare state to secure a decent income to all citizens.     

Impact of physical activity and sedentary behaviour on fall risks in older people: a systematic review and meta-analysis of observational studies

The objective of this work was to summarise and evaluate the evidence showing that physical activity is a protector factor as regards falls in older people. Relevant studies were identified through a systematic search in the MEDLINE and Cochrane Library, under the keywords of accidental fall/numerical data and risk factors, and with the bibliographies of retrieved papers. The combined odds ratio (OR) [95% confidence interval] for physical activity was 0.75 [0.64, 0.88] with moderate heterogeneity (I ²?=?33%). For fall injury, it was 0.59 [0.47, 0.74] and, for falls in general, it rose to 0.94 [0.76, 1.17] with nil heterogeneity. The combined OR for sedentary factors was 1.14 [1.10, 1.82] with moderate heterogeneity (I ²?=?36%). Regular physical activity in daily life yields significant reduction in falls in older people, especially falls with injuries.     

大学生返乡创业生态系统：目标、要素、机理和对策*

创业生态系统从生态系统的视角揭示了创业生态中创业主体、创业要素、创业环境以及各要素之间的相互作用。创业生态系统是一个复杂的自适应系统，其具有复杂的自适应系统的各项特征，从系统的角度来讲，其具有系统的目标、要素、运行机理和系统边界。本文以大学生返乡创业生态系统为例，从系统目标、系统要素和系统的运行机理三个方面立体剖析了创业生态系统的内涵和外延。同时，对大学生返乡创业生态系统的目标设定、大学生返乡创业生态系统各要素的构成以及大学生创业生态系统的运行机理进行了分析，对强化大学生返乡创业生态系统的构建提出了对策建议，为促进大学生返乡创业和乡村振兴提供参考。     

Corporate social responsibility and governance

Journal of Management and Governance -     

When the Norwegian child-welfare services get involved: parents making sense of referrals

There is limited research exploring parents' views and understanding of referrals to the child-welfare services (CWS). This study explores parents' understanding of the circumstances leading to a child-welfare referral, and their understanding of the reporter's objectives in making the referral. Qualitative content analysis and frequency analysis was performed on open-ended survey responses from a sample of 683 Norwegian parents in contact with the CWS. The results showed that the majority (60.2%) of the parents perceived the referral to be initiated solely because of parental difficulties and multiple family life stressors. Some of the parents (22.8%) believed the referrals were initiated exclusively because of their children's problems, whereas a few (13.3%) perceived it to be a combination of parental/familial difficulties and children's problems. The findings reveal that close to half of the parents (46.4%) felt the objective of the person making the referral was to help the child, their parents and the family. Some (36.5%) saw it as a routine or mandated action by public or official services, while others (18.7%) reported that they did not know why referrals had been made, or gave no answer to the question. A small group of parents (6%) viewed the referral as an act of harassment. The main implications of these findings are discussed.     

Introvision in der Arbeitsvermittlung für Fallmanager und Arbeitslose

In the context of a pilot study the effects of the educational-psychological intervention Introvision were tested with older long-term unemployed people. The project was accomplished in the time by 1.4.2010 to 31.12.2010 in co-operation between ARGE Paderborn and the research group Introvision. In the context of the project 16 employees of ARGE Paderborn participated in an advanced training to Introvision, 31 customers of ARGE Paderborn began a coaching to get introduction in Introvision and 20 have also finished. Nine customers decided to participate five individual coachings. The results show, that the offers have a high individual use for the participants. To the central changes belong improved handling of stress, decrease of social isolation, improved (self-) perception as well as a higher self-confidence and a more open co-operation between customers and employees of ARGE Paderborn. Besides four participation began a job on the first labour market and two could be connected to a honorary activity.     

The Multi-dimensional Characteristics of Wellbeing: How Different Aspects of Wellbeing Interact and Do Not Interact with Each Other

Because wellbeing is a multi-varied and dynamic phenomenon, social scientists need to better understand how different aspects of people’s wellbeing are tied together and how these ties differ between individuals at one point in time and within individuals over time. The paper outlines a general model that considers the multidimensional structure of wellbeing. We utilize the potential of latent variable modelling on a unique Swedish database: the Panel Survey of Ageing and the Elderly (PSAE). An inclusive and flexible model that considers the interactions between semi-autonomous domains (material resources, health, psychosocial factors, lifestyle, etc.) is developed. Our empirical study is based on cross-sectional PSAE data and focuses on people 55 years or older (N = 5,374). The analysis takes advantage of recent developments in statistical theory in the field of latent variable modelling to bring about a more dynamic and theory confirming analysis of a multifaceted phenomenon such as wellbeing.     

Conditional VAR and Expected Shortfall: A New Functional Approach

We estimate two well-known risk measures, the value-at-risk (VAR) and the expected shortfall, conditionally to a functional variable (i.e., a random variable valued in some semi(pseudo)-metric space). We use nonparametric kernel estimation for constructing estimators of these quantities, under general dependence conditions. Theoretical properties are stated whereas practical aspects are illustrated on simulated data: nonlinear functional and GARCH(1,1) models. Some ideas on bandwidth selection using bootstrap are introduced. Finally, an empirical example is given through data of the S&P 500 time series.