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Content:Tequame, Miron: HIV, Risky Behavior and Ethno-linguistic Heterogeneity JBNST - Vol. 232/6 - 2012, pp. 606-632.
+ show abstract- hide abstractEthno-linguistic heterogeneity is associated with indicators of development like civil society,
trust, quality of institutions, economic performance and participation. Recently, it has been
found to be favorable for optimizing agents who want to engage in risky sexual behavior
as they can select partners outside their own network and that of their spouse. This paper augments
the literature by arguing that the effect of ethno-linguistic heterogeneity on risky sexual
behavior is gender related. In contexts where women have more economic benefits (or losses)
from sexual partners, they better internalize the cost of detection. This study shows that, with
respect to men, ethno-linguistic heterogeneity significantly affects women’s HIV status and
their risky sexual behavior. Accordingly, it also affects positively the probability of being in
a discordant couple where the wife is HIV positive. Ali, Mir M.: Social Learning Theory, Cigarette Taxes and Adolescent Smoking Behavior JBNST - Vol. 232/6 - 2012, pp. 633-651.
+ show abstract- hide abstractIn this paper we evaluate the effectiveness of cigarette taxes as a mechanism to reduce smoking
rates among adolescents. In our model, we categorize individuals by their smoking frequencies
and intensities instead of relying on the widely used dichotomous measure of smoking. Using
data of a nationally representative sample of adolescents, we use an endogenity corrected model
with school-level fixed effects to obtain our estimates. Moving beyond the conventional definition
of smoking to a definition that recognizes the complex nature of addiction by categorizing
smoking into various stages and also by controlling for peer and family effects together,
we learn that adolescents are not necessarily the most responsive to taxes. Influence from peers
and family plays a more significant role in influencing adolescent smoking. Vujić, Sunčica, Siem Jan Koopman, and Jacques J. F. Commandeur: Economic Trends and Cycles in Crime: A Study for England and Wales JBNST - Vol. 232/6 - 2012, pp. 652-677.
+ show abstract- hide abstractThis paper models cyclical behaviour in property crime series (burglary and theft) in relation to
the macroeconomic activity indicators in England andWales in the period from 1955 to 2001.
Using unobserved components (UC) time series models, univariate time series analysis suggests
that recorded burglary (theft) data is subject to stochastic cycle processes with typical business
cycle frequencies of approximately 5 and 10 years. In the multivariate UC time series framework,
recorded burglary (theft) is simultaneously modelled in a trivariate model, together with
unemployment and real GDP time series. We also estimate a five-variate model, where we simultaneously
model burglary, theft, unemployment, real GDP, and police variables. Some interesting
findings in these analyses are: (i) observed cyclical behaviour in recorded property
crime is almost fully determined by the economic business cycles; (ii) explanatory variables
such as sentence length, imprisonment and conviction rates affect the short-term dynamics
more than the long-term dynamics; (iii) motivational and opportunity effects between macroeconomic
and crime time series can be distinguished in our modelling framework. Chai, Andreas: Consumer Specialization and the Demand for Novelty: a Reconsideration of the Links and Implications for Studying Fashion Cycles in Tourism JBNST - Vol. 232/6 - 2012, pp. 702-709.
+ show abstract- hide abstractHow does the consumer’s predisposition to seek arousing new sensations affect their tendency
to accumulate knowledge about consumption activities? Using recent insights about the dynamic
interaction of learning mechanisms that are part of the individual’s genetic endowment,
we argue that, contra Scitovsky (1976), the emergence of relatively convenient forms of
entertainment may foster – rather than inhibit – the accumulation of consumer knowledge.
Furthermore, because specialized consumers have a greater tendency to innovatively modify
aspects of the consumption activity, we argue that this specialization process fundamentally
affects the rate at which consumers become habituated to novelty. This represents an important
way in which cognitive learning patterns interact with non-cognitive learning dynamics and it
has consequences for understanding the direction and length of fashion cycles in recreational
activities. In particular, we discuss how this perspective can be applied to studying tourism
demand patterns and the ‘Destination Life Cycle’.
Discussion Paper Heinemann, Friedrich: FIRE for the Euro: A Superior Way to Bond Market Stabilization JBNST - Vol. 232/6 - 2012, pp. 702-709.
+ show abstract- hide abstractGovernment bond markets within the euro zone may have fallen victim to a self-fulfilling crisis
of confidence. Eurobonds may contribute to stabilization in the short-run but would imply
destructive disincentives and incalculable risks for joint and several guarantors. Monetary interest
rate equalization through the ECB government bond purchase program poses risks for
central bank credibility and price stability. This contribution proposes fiscal interest rate equalization
(FIRE) as an alternative. With FIRE, countries that benefit from low interest rates as a
consequence of market panics would transfers some of their savings to subsidize the borrowing
of crisis countries within a conditional fiscal scheme. The paper presents FIRE’s principles and
discusses its advantages over alternative stabilization approaches. Furthermore, a simulation
of a FIRE specification is presented which would shield Italy and Spain against interest rates
above 5 percent.
Book Reviews Benedictis, Luca de, Luca Salvatici: The Trade Impact of European Union Preferential Policies. An Analysis Through Gravity Models JBNST - Vol. 232/6 - 2012, pp. 709-714.
Oppenländer, Karl Heinrich: Erinnerungen eines Wirtschaftsforschers. Privates und Berufliches JBNST - Vol. 232/6 - 2012, pp. 715-716.
Papadimitriou, Dimitri B., L. Randall Wray: The Elgar Companion to Hyman Minsky JBNST - Vol. 232/6 - 2012, pp. 716-716.
Porter, Michael E., Clemens Guth: Redefining German Health Care – Moving to a Value-Based System JBNST - Vol. 232/6 - 2012, pp. 717-720.
Sattarhoff, Cristina: Statistical Inference in Multifractal Random Walk Models for Financial Time Series JBNST - Vol. 232/6 - 2012, pp. 721-722.
Sauer, Beate: Von der Liquiditätssicherung zum Ertragsstreben JBNST - Vol. 232/6 - 2012, pp. 723-724.
Willgerodt Hans: Werten und Wissen – Beiträge zur Politischen Ökonomie JBNST - Vol. 232/6 - 2012, pp. 723-724.
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