scholarly journals Banking and Industrialization

2018 ◽  
Vol 17 (6) ◽  
pp. 1753-1796 ◽  
Author(s):  
Stephan Heblich ◽  
Alex Trew
Keyword(s):  
Standard Deviation ◽  
Industrial Revolution ◽  
Employment Growth ◽  
Standard Deviation Increase ◽  
Percentage Points ◽  
Industrial Employment ◽  
Employment Share ◽  
Capital Intensive ◽  
Employment Data

AbstractWe establish a causal role for banking access in the spread of the Industrial Revolution over the period 1817–1881 by exploiting unique employment data from 10,528 parishes across England and Wales and a novel instrument. We estimate that a one standard deviation increase in 1817 finance employment increases annualized industrial employment growth by 0.93 percentage points. We establish the role of structural transformation as an underlying growth mechanism and show that banking access: (i) increases the industrial employment share; (ii) stimulates urbanization; and (iii) fosters inter-industry transition to high TFP, intermediate and capital-intensive sub-sectors.

Can foreign aid free the press?

2016 ◽  
Vol 12 (3) ◽  
pp. 603-621 ◽  
Author(s):  
NABAMITA DUTTA ◽  
CLAUDIA R. WILLIAMSON
Keyword(s):  
Standard Deviation ◽  
Panel Data ◽  
Foreign Aid ◽  
Financial Support ◽  
Press Freedom ◽  
Standard Deviation Increase ◽  
Role Of The State ◽  
The Press ◽  
The Mean

AbstractCan foreign aid help free the press? Aid may boost press freedom by incentivizing government to reduce media regulations and provide financial support for infrastructure. Alternatively, foreign aid may prevent press freedom by expanding the role of the state and promoting government over private enterprises. We contend that the magnitude of foreign aid's influence is conditional on the existence of democratic checks. Using panel data from 1994 to 2010, we find evidence suggesting that aid significantly increases press freedom in democracies but insignificantly relates to press freedom in autocracies. Collectively, the results suggest that a standard deviation increase in aid to a country at the mean level of democracy increases press freedom by approximately a 1/20th standard deviation. Overall, the findings suggest that donors should be cautious as most aid recipients are not democratic and aid leads to only relatively small marginal improvements in press freedom.

scholarly journals Anxiety increases the willingness to be exposed to COVID-19 risk among young adults in France

2020 ◽  
Author(s):  
Fabrice Etilé ◽  
Pierre-Yves Geoffard
Keyword(s):  
Young Adults ◽  
Standard Deviation ◽  
State Anxiety ◽  
Online Survey ◽  
Communication Strategies ◽  
Psychological State ◽  
Economic Losses ◽  
Standard Deviation Increase ◽  
Percentage Points ◽  
The Wire

Abstract The COVID-19 outbreak has generated significant uncertainty about the future, especially for young adults. Health and economic threats, as well as more diffuse concerns about the consequences of COVID-19, can trigger feelings of anxiety, leading individuals to adopt uncertainty-reducing behaviours. We tested whether anxiety was associated with an increase in willingness to be exposed to the risk of COVID-19 infection (WiRE) using an online survey administered to 3,110 French individuals aged between 18 and 35 years old during the lockdown period (April 2020). Overall, 56.5% of the sample declared a positive WiRE. Unemployment was associated with a higher WiRE (+8.2 percentage points (pp); 95% CI +0.9-15.4 pp). One standard deviation increases in income (+1160€) and psychological state anxiety raised the WiRE by +2.7 pp (95% CI: +1.1-4.4 pp) and +3.9 pp (95% CI: +1.6-6.2 pp), respectively. A one standard deviation increase in perceived hospitalisation risk was associated with a -4.1 pp (95% CI: -6.2-2.1 pp) decrease in the WiRE. Overall, our results suggest that both the prospect of economic losses and psychological anxiety can undermine young adults’ adherence to physical distancing recommendations. Public policies targeting young adults must consider both their economic situation and their mental health, and they must use uncertainty-reducing communication strategies.

scholarly journals PREPRINT: Contact and Psychological Adjustment following Divorce/Separation

2019 ◽  
Author(s):  
Karey O'Hara ◽  
Austin Grinberg ◽  
Allison Mary Tackman ◽  
Matthias R. Mehl ◽  
David Sbarra
Keyword(s):  
Psychological Distress ◽  
Standard Deviation ◽  
Psychological Adjustment ◽  
Time Varying ◽  
Standard Deviation Increase ◽  
Interpersonal Contact ◽  
Person Variable ◽  
Over Time

This study examined the association between naturalistically-observed in-person contact with one’s ex-partner and separation-related psychological distress (SRPD). 122 recently separated adults were assessed using the Electronically Activated Recorder (Mehl, 2017) on three occasions across five months. The association between in-person contact with one’s expartner, as a between-person variable, and concurrent SRPD was not reliably different from zero, nor was the time-varying effect of in-person contact. However, more frequent in-person contact with one’s ex-partner predicted higher SRPD two months later, above and beyond the variance accounted for by oncurrent in-person contact, demographic, relationship, and attachment factors. Follow-up analyses yielded that this effect was only present for people without children; a one standard deviation increase in in-person contact offset and slowed the predicted decline in SRPD over two months by 112%. Our discussion emphasizes new ways to think about the role of interpersonal contact in shaping adults’ psychological adjustment to separation over time.

scholarly journals Pandemics and protectionism: evidence from the “Spanish” flu

2021 ◽  
Vol 8 (1) ◽  
Author(s):  
Nina Boberg-Fazlic ◽  
Markus Lampe ◽  
Maja Uhre Pedersen ◽  
Paul Sharp
Keyword(s):  
Standard Deviation ◽  
World War ◽  
Difference In Differences ◽  
Standard Deviation Increase ◽  
Percentage Points ◽  
The First World War ◽  
Macroeconomic Impact ◽  
Spanish Flu ◽  
The Impact ◽  
First World

AbstractThe impact of COVID-19 on recent tendencies towards international isolationism has been much speculated on but remains to be seen. We suggest that valuable evidence can be gleaned from the “Spanish” flu of 1918–20. It is well-known that the world fell into a protectionist spiral following the First World War, but scholars have almost exclusively ignored the impact of the pandemic. We employ a difference-in-differences strategy and find that the flu had a significant impact on trade policy, independent of the war. In our preferred specification, a one standard deviation increase in excess deaths during the outbreak implied 0.022 percentage points higher tariffs subsequently, corresponding to an increase of one third of a standard deviation in tariffs. Health policy should aim to avoid the experience of the interwar period and consider the international macroeconomic impact of measures (not) taken.

scholarly journals Anxiety increases the willingness to be exposed to COVID-19 risk among young adults in France

2020 ◽  
Author(s):  
Fabrice Etilé ◽  
Pierre-Yves Geoffard
Keyword(s):  
Young Adults ◽  
Standard Deviation ◽  
State Anxiety ◽  
Online Survey ◽  
Communication Strategies ◽  
Psychological State ◽  
Economic Losses ◽  
Standard Deviation Increase ◽  
Percentage Points ◽  
The Wire

Abstract The COVID-19 outbreak has generated significant uncertainty about the future, especially for young adults. Health and economic threats, as well as more diffuse concerns about the consequences of COVID-19, can trigger feelings of anxiety, leading individuals to adopt uncertainty-reducing behaviours. We tested whether anxiety was associated with an increase in willingness to be exposed to the risk of COVID-19 infection (WiRE) using an online survey administered to 3,110 French individuals aged between 18 and 35 years old during the lockdown period (April 2020). Overall, 56.5% of the sample declared a positive WiRE. Unemployment was associated with a higher WiRE (+8.2 percentage points (pp); 95% CI +0.9-15.4 pp). One standard deviation increases in income (+1160€) and psychological state anxiety raised the WiRE by +2.7 pp (95% CI: +1.1-4.4 pp) and +3.9 pp (95% CI: +1.6-6.2 pp),respectively. A one standard deviation increase in perceived hospitalisation risk was associated with a -4.1 pp (95% CI: -6.2-2.1 pp) decrease in the WiRE. Overall, our results suggest that both the prospect of economic losses and psychological anxiety can undermine young adults’ adherence to physical distancing recommendations. Public policies targeting young adults must consider both their economic situation and their mental health, and they must use uncertaintyreducing communication strategies.

scholarly journals The sooner the better? Anxiety and deliberate exposure to COVID-19 risk among young adults in France

2020 ◽  
Author(s):  
Fabrice Etilé ◽  
Pierre-Yves Geoffard
Keyword(s):  
Young Adults ◽  
Standard Deviation ◽  
State Anxiety ◽  
Online Survey ◽  
Communication Strategies ◽  
Psychological State ◽  
Economic Losses ◽  
Standard Deviation Increase ◽  
Percentage Points ◽  
The Wire

Abstract The COVID-19 outbreak has generated significant uncertainty about the future, especially for young adults. Health and economic threats, as well as more diffuse concerns about the consequences of COVID-19, can trigger feelings of anxiety, leading individuals to adopt uncertainty-reducing behaviours. We tested whether anxiety was associated with an increase in willingness to be exposed to the risk of COVID-19 infection (WiRE) using an online survey administered to 3,110 French individuals aged between 18 and 35 years old during the lockdown period (April 2020). Overall, 56.5% of the sample declared a positive WiRE. Unemployment was associated with a higher WiRE (+8.2 percentage points (pp); 95% CI +0.9-15.4 pp). One standard deviation increases in income (+1160€) and psychological state anxiety raised the WiRE by +2.7 pp (95% CI: +1.1-4.4 pp) and +3.9 pp (95% CI: +1.6-6.2 pp), respectively. A one standard deviation increase in perceived hospitalisation risk was associated with a -4.1 pp (95% CI: -6.2-2.1 pp) decrease in the WiRE. Overall, our results suggest that both the prospect of economic losses and psychological anxiety can undermine young adults’ adherence to physical distancing recommendations. Public policies targeting young adults must consider both their economic situation and their mental health, and they must use uncertainty-reducing communication strategies.

scholarly journals Members of Parliament are Minimally Accountable for Their Issue Stances (and They Know It)

2021 ◽  
pp. 1-17
Author(s):  
CHRIS HANRETTY ◽  
JONATHAN MELLON ◽  
PATRICK ENGLISH
Keyword(s):  
Standard Deviation ◽  
Vote Share ◽  
Standard Deviation Increase ◽  
Electoral Accountability ◽  
Members Of Parliament ◽  
Percentage Points ◽  
Individual Effects

For incumbents to be accountable for their issue stances, voters must sanction incumbents whose positions are “out of step” with their own. We test the electoral accountability of British legislators for their stance on Brexit. We find that there is very limited issue accountability. Individuals who disagreed with their representative’s stance on Brexit were 3 percentage points less likely to vote for them. The aggregate consequences of these individual effects are limited. A one-standard-deviation increase in the proportion of constituents agreeing with their incumbent’s Brexit stance is associated with an increase of 0.53 percentage points in incumbent vote share. These effects are one and a half times larger when the main challenger has a different Brexit stance to the incumbent. A follow-up survey of Members of Parliament (MPs) shows that MPs’ estimates of the effects of congruence are similar in magnitude. Our findings suggest that issue accountability is conditional in nature and limited in magnitude even for an issue such as Brexit, which should be maximally amenable to such effects.

scholarly journals Linguistic Distance and Market Integration in India

2021 ◽  
pp. 1-39
Author(s):  
James Fenske ◽  
Namrata Kala
Keyword(s):  
Standard Deviation ◽  
Genetic Distance ◽  
South Asian ◽  
Market Integration ◽  
Developing World ◽  
Cultural Distance ◽  
Linguistic Distance ◽  
Standard Deviation Increase ◽  
Standard Deviations

The role of cultural distance in market integration, particularly in the developing world, has received relatively little attention. Using prices from more than 200 South Asian markets spanning 1861 to 1921, we show that linguistic distance correlates negatively with market integration. A one-standard-deviation increase in linguistic distance predicts a reduction in the price correlation between two markets of 0.121 standard deviations for wheat, 0.181 for salt, and 0.088 for rice. While factors like genetic distance, literacy gaps, and railway connections are correlated with linguistic distance, they do not fully explain the correlation between linguistic distance and market integration.

scholarly journals ANXIETY INCREASES THE WILLINGNESS TO BE EXPOSED TO COVID-19 RISK AMONG YOUNG ADULTS IN FRANCE

2020 ◽  
Author(s):  
Fabrice Etilé ◽  
Pierre-Yves Geoffard
Keyword(s):  
Young Adults ◽  
Standard Deviation ◽  
State Anxiety ◽  
Online Survey ◽  
Communication Strategies ◽  
Psychological State ◽  
Economic Losses ◽  
Standard Deviation Increase ◽  
Percentage Points ◽  
The Wire

The COVID-19 outbreak has generated significant uncertainty about the future, especially for young adults. Health and economic threats, as well as more diffuse concerns about the consequences of COVID-19, can trigger feelings of anxiety, leading individuals to adopt uncertainty-reducing behaviours. We tested whether anxiety was associated with an increase in willingness to be exposed to the risk of COVID-19 infection (WiRE) using an online survey administered to 3,110 French individuals aged between 18 and 35 years old during the lockdown period (April 2020). Overall, 56.5% of the sample declared a positive WiRE. Unemployment was associated with a higher WiRE (+8.2 percentage points (pp); 95% CI +0.9-15.4 pp). One standard deviation increases in income (+1160€) and psychological state anxiety raised the WiRE by +2.7 pp (95% CI: +1.1-4.4 pp) and +3.9 pp (95% CI: +1.6-6.2 pp),respectively. A one standard deviation increase in perceived hospitalisation risk was associated with a -4.1 pp (95% CI: -6.2-2.1 pp) decrease in the WiRE. Overall, our results suggest that both the prospect of economic losses and psychological anxiety can undermine young adults’ adherence to physical distancing recommendations. Public policies targeting young adults must consider both their economic situation and their mental health, and they must use uncertainty-reducing communication strategies.

scholarly journals Financial Media, Price Discovery, and Merger Arbitrage

2020 ◽  
Author(s):  
Matthias M M Buehlmaier ◽  
Josef Zechner
Keyword(s):  
Standard Deviation ◽  
Computational Linguistics ◽  
Stock Prices ◽  
High Yield ◽  
Standard Deviation Increase ◽  
Yield Spreads ◽  
Percentage Points ◽  
The Media ◽  
Financial Media ◽  
Merger Arbitrage

Abstract Using merger announcements and applying methods from computational linguistics we find strong evidence that stock prices underreact to information in financial media. A one standard deviation increase in the media-implied probability of merger completion increases the subsequent 12-day return of a long-short merger strategy by 1.2 percentage points. Filtering out the 28% of announced deals with the lowest media-implied completion probability increases the annualized alpha from merger arbitrage by 9.3 percentage points. Our results are particularly pronounced when high-yield spreads are large and on days when only few merger deals are announced.

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