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We estimate the effects of job insecurity on the mental health of older workers in the United States. To address endogeneity problems, we exploit panel data and plausibly exogenous changes in job loss expectations following eliminations of similar positions and other types of jobs at the worker’s employer, as well as changes in employment at the industry–state level. We provide evidence that job insecurity, as measured by the self-reported probability of job loss, increases stress at work and the risk of clinical depression. We also find that the use of instrumental variables increases the size of the estimated effects. We interpret this as evidence that job insecurity which is outside the control of workers may have much larger effects on mental health. Our findings suggest that employers should worry about the mental health of workers in periods of downsizing, periods which are crucial for the recovery of firms in financial difficulties and which may depend particularly on the productivity of its workers.

The purpose of this paper is to present the formulation of the first exhaustive price index for Argentinian (and other Latin American countries) visual artists using 5,069 works sold in auctions by 71 Argentinian artists during the years 1980-2014.

The authors estimated a regression of hedonic prices using the ordinary least squares method. When the regression was run and the results were analysed, the authors then estimated the annual price index of Argentinian artists’ work to then compare them with different financial and economic variables.

The average annual nominal arithmetic rate of return in dollars for Argentinian art during this period was 6.81 per cent, with a 29.11 per cent standard deviation. Argentinian art shows a low correlation with Argentinian and US companies’ shares and a slightly negative correlation with US bonds. This is the reason for artworks to be included in investors’ portfolios despite the relatively high volatility.

Valuating works of art in Argentina can be explained by a series of their attributes. The benefits of art as an investment should be contrasted with factors including illiquidity and high transaction costs that are inherent when investing in works of art.

Argentinian artists’ works have higher prices when, ceteris paribus, they are dated; they are auctioned in either Christie’s, Sotheby’s, Galería Arroyo, Roldan & Cia, Meeting Art, or Naon & Cia; they are oil or acrylic paintings; they are larger in size – although the price increase is decreasing when the size of the painting increases; and when the artist dies before their work is auctioned.

This work presents the first rigorous price index of Argentinian artists’ works. Additionally, and as far as the authors have been able to observe, the time-period in this article is the longest that has been used in studies on art as an investment in emerging markets.

Este trabajo presenta la elaboración del primer índice exhaustivo de precios de artistas plásticos de Argentina (y de cualquier otro país de Latino América) a partir de 5.069 ventas de obras de 71 artistas argentinos realizadas en subastas durante el período 1980-2014.

Se estimó una regresión de precios hedónica por el Método de Mínimos Cuadrados Ordinarios. Una vez corrida la regresión y analizados sus resultados, se procedió a estimar el índice anual de precios de obras de artistas argentinos, para posteriormente relacionarlos con diversas variables financieras y económicas.

El rendimiento promedio aritmético nominal anual en dólares del arte argentino durante ese período fue de 6,81% con una desviación estándar de 29,11%. El arte argentino exhibe una baja correlación con las acciones de empresas argentinas y de EEUU y ligeramente negativa con bonos de EEUU, lo cual le confiere atributos para ser incluido en las carteras de los inversionistas, a pesar de la elevada volatilidad.

Se consigue que la valoración de arte en Argentina puede ser explicada por una serie de atributos de las obras de arte. Los beneficios del arte como inversión deben ser evaluados con la iliquidez y los elevados costos de transacción, entre otros costos, inherentes a la inversión en obras de arte.

Las obras de artistas argentinos tienen precios más altos cuando, ceteris paribus: están fechadas, se subastan en Christie's, en Sotheby's o en Galería Arroyo, son ejecutadas en óleo o en acrílico, tienen un mayor área, aunque el aumento de precio es decreciente al aumentar el área, y cuando el artista ya había fallecido al momento de celebrase la subasta.

Este trabajo propone el primer índice riguroso de precios de obras de artistas de Argentina. Además, y hasta donde hemos podido comprobar, el período utilizado en este trabajo es el más largo que se haya empleado en estudios del arte como inversión en mercados emergentes.

Sport events’ contribution to the destinations’ local economy implies in-depth knowledge of the economic benefits generated by non-resident spectators (NRS). Thus, this study aims to answer: What is the profile and shaping factors of the consumption patterns of the several types of NRS in international surf tourism events?

A total of 263 questionnaires applied to the NRS of an international surf event were collected and analysed. The identification of the NRS profile and the predictive factors of their total expenditure were performed through the correlation of factors and multiple linear regression, respectively.

Mostly, the event attracted generation Y NRS, with a high level of education and regular sport practice. The results showed differences among the NRS: the “casuals” included more women than men; the “extensioners” integrated the NRS whose surfing practice is higher; the “event visitors”/”time switchers” mostly integrated the domestic tourism flows; the “casuals” and “extensioners” spent the most at the destination, and those whose intention to recommend/revisit the destination, respectively, was higher; and the shaping factor that most influenced the increase in NRS expenditure was the overnight stay, added by older age, higher education level and foreign origin.

Regardless of the initial motivation that led to the trip to the destination, the results verified that the event’s attributes are capable of contributing to the recommendation/visitation of the destination. Consequently, the study of economic benefits (tangible and intangible) provided by sport events in destinations should be guided by an integrative analysis of NRS.