Search results

The authors examine whether or not applicants and recipients of federal disability insurance (DI) inflate their self-assessed health (SAH) problems relative to others. To do this, the authors employ a technique which uses anchoring vignettes. This approach allows them to examine how various cohorts of the population interpret survey questions associated with subjective self-assessments of health. The results of the analysis suggest that DI participants do inflate the severity of a given health problem, but by a small but significant degree. This tendency to exaggerate the severity of disability problems is much more apparent among those with more education (especially those with a college degree). In contrast, racial minorities tend to underestimate severity ratings for a given disability vignette when compared to their white peers.

Using a GED-GARCH model to estimate monthly data from January 1990 to February 2022, we test whether gold acts as a hedge or safe haven asset in 10 countries. With a downturn of the stock market, gold can be viewed as a hedge and safe haven asset in the G7 countries. In the case of inflation, gold acts as a hedge and safe haven asset in the United States, United Kingdom, Canada, China, and Indonesia. For currency depreciation, oil price shock, economic policy uncertainty, and US volatility spillover, evidence finds that gold acts as a hedge and safe haven for all countries.

Natural disasters and human-made events occurring against the background of global climate change are directly causing an unexpected financial recession in agriculture. From this point of view, agricultural insurance is of special importance in financially mitigating the damage caused by climate change. The research analyzed the forecast parameters by selecting the amount of precipitation and the factors affecting cotton crop insurance, which is considered one of the agricultural crops. The research discusses the effective utilization of agricultural insurance opportunities in compensation for damage from climate change and the development of forecast development scenarios based on using econometric models in this direction. The authors explore the importance of further improving insurance protection measures in the future based on projection scenarios developed up to 2028 for crop and livestock insurance in agricultural insurance activities.

Hazel Kyrk’s recognised contributions include a shift in analytic focus from production to consumption, pioneering work to measure household production as part of family income, empirical studies of family behaviour, and contributions to policy. But her account of ‘wise’ consumption and its intersection with ‘high’ living standards is not well understood. The three aims of this chapter are to explain ‘wise’ consumption across Kyrk’s three major books, to consider its role in Kyrk’s empirical studies, and to explain why it fell into oblivion. Tackling what Wesley Mitchell described as the ‘most baffling of difficulties’, Kyrk explained what constitutes a family’s ‘good’ in a manner that was critical of mere emulation. Her 1923 book required that wise consumption include new and personal elements. Her 1929/1933 book detailed five qualitative criteria (balance between interests, full and varied experiences, originality, rational sources of satisfaction, and the use of scientific information). But her 1953 book weakened this normative language, reflecting Margaret Reid’s view that Kyrk’s account was too demanding. Although Kyrk felt wise consumption avoided paternalism, her peers disagreed (Hoyt, 1938/1945; Reid, 1938/1945). We close with some problems with Kyrk’s account and a brief consideration of its continuing relevance.

Factor investment is booming in global asset management, especially environmental, social, and governance (ESG), dividend yield, and volatility factors. In this chapter, we use data from the US securities market from 2003 to 2019 to predict dividends and volatility factors through machine learning and historical data–based methods. After that, we utilize particle swarm optimization to construct the Markowitz portfolio with limits on the number of assets and weight restrictions. The empirical results show that that the prediction ability using XGBoost is superior to the historical factor investment method. Moreover, the investment performance of our portfolio with ESG, high-yield, and low-volatility factors outperforms baseline methods, especially the S&P 500 ETF.

This research aims to examine how decision-makers’ demographic traits affect the integration of foreign workforce into Tirolean (Austria) companies. With continuous world migrations, Tirol experiences a great inflow of foreign workforce. While integrating into the workforce, the foreign workers interact with various decision-makers whose demographic traits (e.g., age, gender, nationality) potentially influence the success of the integration process. To gather data on the integration levels of a foreign workforce, the author conducted a questionnaire. Furthermore, several statistical analyses were run to determine if the relationship between demographic characteristics and integration success exists. The study reveals that demographic characteristics influence decision-makers’ acceptance of expatriates, as well as their recruitment, integration, and training and development outcomes. The empirical results indicate the strength of relationships identified through analyses. The study is limited to geographical, as well as the scope of the sample size, as the data are obtained from Tirol only. In addition, the results from the study serve as a basis for future discussions and research.

This chapter explores the impact of Entrepreneurial Orientation (EO), Sustainable Orientation (SO), and Human Resource Orientation (HRO) – the key dimensions of the strategic posture known as Humane Entrepreneurship – on the success of 142 equity crowdfunding campaigns hosted on the US-based platform WeFunder. Utilizing text analysis in conjunction with fuzzy set qualitative comparative analysis, a configurational research method, the study identifies diverse combinations of these dimensions that lead to successful funding outcomes. The analysis, encompassing both minimum and maximum funding targets and supplemented by robustness tests, indicates that successful equity crowdfunding campaigns are characterized by pitches displaying high levels of autonomy, innovativeness, proactiveness, and risk-taking, with a lesser focus on competitive aggressiveness. It is also observed that campaigns emphasizing HRO consistently achieve their fundraising goals, independent of the funding target set. Notably, a startup’s SO does not seem to significantly influence campaign success within the equity crowdfunding context.

This chapter examines the impact of sectoral indebtedness on GDP in Czechia, initially a low-indebted small open economy in which debt dynamics are becoming a major concern. The impact of household debt, non-financial corporation debt and public debt is analysed with the use of local projections based on instrumental variable estimations. The results show a more pronounced influence of household debt compared to non-financial corporation and government debt. Initially, increasing household debt stimulates short-run economic activity, but in the medium run, it limits household consumption and negatively affects output. This negative impact gradually turns into a positive effect in the long run. Non-financial corporation debt has a negative short- to medium-run impact but can have a small positive effect in the long run due to the prevalence of tradable industries. Public debt initially has a short-run negative impact, but then gradually becomes positive. Overall, the findings have implications for macroeconomic policies and the importance of monitoring financial stability.