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Original Articles Caterina Liberati, Riccarda Longaretti and Alessandra Michelangeli: Measuring Tolerant Behavior JBNST - Vol. 241/2 - 2021, pp. 149-171.
+ show abstract- hide abstractThis paper addresses the issue of measuring tolerance, viewed as a multifaceted phenomenon involving several different social domains. We develop a multidimensional index for Likert-scale data, characterized by the following features: (i) it reflects the individual’s intensity of tolerant attitudes towards each social domain; (ii) the index can be broken down by dimension in order to determine the contribution of each dimension to overall tolerance; (iii) the index combines the different dimensions of tolerance using a weighted scheme that reflects the importance of each dimension in determining the overall level of tolerance. To show how this new measure of tolerance works in practice, we carry out a case study using an Italian recent survey asking the opinion of university students about different subjects, such as interreligious dialog, women/religion relationship, religion/death relationship, homosexuality, and multicultural society. Andreas Dellnitz and Wilhelm Rödder: Returns to Scale as an Established Scaling Indicator: Always a Good Advisor? JBNST - Vol. 241/2 - 2021, pp. 173-186.
+ show abstract- hide abstractIn data envelopment analysis (DEA), returns to scale (RTS) are a widely accepted instrument for a company to reveal its activity scaling potentials. In the case of increasing returns to scale (IRS), a company learns that upsizing activities improves its productivity. For decreasing returns to scale (DRS), the instrument likewise should depict a downsizing force, again for improving productivity. Unfortunately, here the classical RTS concept shows misbehavior. Under certain circumstances, it is the wrong indicator for scaling activities and even hides respective productivity improvement potentials. In this paper, we study this phenomenon, using the DEA concept, and illustrate it via little numerical examples and a real-world application consisting of 37 Brazilian banks. Available in: Henning Fischer and Oscar Stolper: The Nonlinear Dynamics of Corporate Bond Spreads: Regime-Dependent Effects of their Determinants JBNST - Vol. 241/2 - 2021, pp. 187-238.
+ show abstract- hide abstractThis paper studies the behavior of corporate bond spreads during different market regimes between 2004 and 2016. Applying a Markov-switching vector autoregressive (MS-VAR) model, we document that the dynamic impact of spread determinants varies substantially with market conditions. In periods of high volatility, systematic credit risk—rather than interest rate movements—contributes to driving up spreads. Moreover, while market-wide liquidity risk is not priced when volatility is low, it becomes a crucial factor during stress periods. Our results challenge the notion that spreads predominantly capture credit risk and suggest it must be reassessed during periods of financial distress. Eva Weigt: The Effect of Rapid Structural Change on Workers JBNST - Vol. 241/2 - 2021, pp. 239-285.
+ show abstract- hide abstractThis paper deals with the question how workers’ labour market and non-monetary outcomes are impacted by a negative sector-specific labour demand shock. This issue is analysed in a setting of rapid structural change that happened in Eastern Germany after the fall of the Berlin Wall in 1989. The sector-specific labour demand shock can be assumed to be exogenous to other worker characteristics as it was not anticipated and as career planning was highly restricted in the GDR. Using survey data from the German Socio-Economic Panel (SOEP), I find considerable and partly persistent losses in labour market outcomes of workers from declining compared to booming industries. Life satisfaction of workers from declining industries is decreased in the short run whereas the probability to move to the West and to identify with a left-wing political party is increased merely in the longer run.
Data Observer Anne M. Wöhrmann, Corinna Brauner and Alexandra Michel: BAuA-Working Time Survey (BAuA-WTS; BAuA-Arbeitszeitbefragung) JBNST - Vol. 241/2 - 2021, pp. 287-295.
+ show abstract- hide abstractBAuA-Working Time Survey (BAuA-WTS) is a micro data panel study covering aspects of working time, other working conditions, health, and well-being. It is representative of people working least 10 h per week in Germany. Data were collected via computer-assisted telephone interviews. So far, three panel waves have been conducted (2015, 2017, and 2019). Further biennial waves are planned. Scientific use files of the first two waves can be accessed at www.baua.de/forschungsdaten and be used free of charge by the scientific community after registration. |