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This paper aims to describe a robust empirical approach to generating plausible historically based interest rate shocks, which can be applied to any market environment. These interest rate shocks can be readily linked to movements in other key risk factors, and used to measure market risk on institutions with large fixed-income portfolios.

Using yield curve factorization, we parameterize a time series of historical yield curves and measure interest rate shocks as the historical change in each of the model’s factors. We then demonstrate how to add these parameterized shocks to any market environment, while retaining positive rates and plausible credit spreads. Given a set of shocked interest rate curves, joint risk factor movements are calculated based upon historical, reduced form dependencies.

Our approach is based upon yield curve parameterization and requires a parsimonious yet flexible factorization model. In the process of selecting a model, we evaluate three variants of the Nelson–Siegel approach to yield curve approximation and find that, in the current low interest rate environment, a 5-factor parameterization developed by Björk and Christensen (1999) is best suited for accurately translating historical interest rate movements into plausible, current period shocks.

An accurate measure of market risk can help to inform institutions about the amount of capital needed to withstand a series of adverse market events. A plausible set of shocks is required to ensure market value, and cash flow projections are indicative of meaningful market sensitivities.

This paper aims to propose that a Neave-Worthington Match Test for Ordered Alternatives is a simple, non-parametric test that can be used to consider Gibrat’s law. Whether the law, that states that the proportional rate of growth is independent of absolute size, is supported by regional house price growth rates is considered. The Match Test is further used to test the applicability of beta-convergence and dual economy models to a house price context.

The Match Test relates an actual rank order with an expected one. Gibrat’s law implies house price growth rates are independent of the absolute price levels. Beta-convergence posits that growth rates are inversely related to the initial price level. With a divergent system, there is a direct relationship between size-order and growth rates. As such, the Match Test is used to test alternative models of size-growth relationship.

Rather than convergence, there is a tendency to diverge across the UK, but not in Eire. That said, the size of growth shocks is related to price level on the upswing of a price cycle, but not in the down. Assigning the high-priced regions of the two islands into core and the rest into a periphery, total matching is dominated by the capital cities’ growth. The sigma-convergence observed in British house prices is likely to be associated with slower beta-divergence, not a convergent system. The law of Gibrat is not found to apply in a regional house price context.

This work only covers two countries and nineteen regions. Gibrat’s law in regional house prices may be better examined using a multi-country analysis.

As the law of Gibrat is not found to apply in a regional house price context and core-regions appearing to dislocated, this has interesting implications for growth trend analysis and the claim of cointegration, which should be explored further. In particular, the level-growth relationship in the cyclical price upswing points to a ratcheting of differentials between high and low house price regions. The common trends in the long run may result from corrective periodic crashes. Not an ideal mechanism for policymakers.

To the best of the author’s knowledge, this paper makes a novel use of the Neave-Worthington test in the realm of regional convergence-divergence and in the first consideration of the law of Gibrat in a house price context across two countries.

Humans lifespan is characterized by delayed maturation. Delayed maturation may arise when juvenile mortality is reduced. Recent research suggests that juvenile mortality reduction could be achieved via provisioning to weaned juveniles, particularly during health crises. Here I test this idea with data on the causes, distribution, and duration of injuries and illnesses suffered by Shiwiar forager-horticulturalists during the juvenile period. Health insults for which prolonged care is necessary for survival are a recurrent feature of the juvenile lifespan. About half the individuals for whom data on disability duration were gathered suffered health insults likely to be lethal without extended aid; over 80% were born after a parent suffered such an event; and over 90% were born after a direct ancestor in the two ascending generations suffered such an event. The data indicate that health-care provisioning reduces juvenile mortality, and that provisioning of sick and injured juveniles has important fitness consequences in this population.

The purpose of this paper is to elevate the importance of complementary views concerning the first years of life as important precursors for personal growth and sustainable mental health.

Paper II is a follow up to Paper I. After a short overview, connecting to the previous paper, the focus is on infancy followed by a few overlooked aspects and then a short summary on childhood and adolescence. Finally, some concluding remarks have been provided to put the paper together.

The main findings are connected to publications by other authors with insights which could be viewed as either “politically incorrect” or as simply overlooked in present research studies and discussions.

The author presents his personal perspective on the aforementioned topics. There are contrasting ways to view them.

A recognition of the importance for a child to experience a “good as possible” infancy and childhood, which could mean to grow up with less use of computers and less influences from social media.

A recognition of the importance parents and other adults have for the socialization of infants, children and adolescents.

This conceptual paper has compiled complementary views of infancy and childhood which are seldom heard about but are of importance for sustainable mental health.

This study aims to consider the nineteenth century relationship between biological markers and employment. This relationship is also considered for different occupations and by race.

Using a large source of nineteenth century Texas state prison records, regression models illustrate the relationships between stature, body mass index (BMI), other observable characteristics and employment outcomes.

Among the nineteenth century Texas working class, stature and BMIs were not significant in the decision to participate in the southwest's labor market but were significant in Texas occupation selection. The probability of being farmers and unskilled workers were comparable by race. However, whites had easier access to white‐collar and skilled occupations.

Relationships between stature and BMI in developing countries may not be related to the decision to work; however, a relationship between these biological markers and occupation selection may exist.

This paper is one of the few that consider the relationship between biological markers and employment outcomes. By considering the relationship between stature, BMI, and employment outcomes as the US economy develops, inferences can be drawn for the health and employment relationship in developing economies.