scholarly journals Wealth transfers and labour supply: impact of inheritances and gifts by gender in Europe

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Miguel Á. Malo ◽  
Dario Sciulli
Keyword(s):  
Educational Level ◽  
Negative Impact ◽  
Labour Force ◽  
Labour Force Participation ◽  
Wealth Transfer ◽  
Content Type ◽  
Elderly Individuals ◽  
Variable Approach ◽  
Negative Impacts ◽  
Instrumental Variable Approach

PurposeThe authors analyse how the receipt of a wealth transfer (inheritance or gift) affects labour force participation in 14 EU countries. They compare the effect of receiving an inheritance or a gift and investigate different behaviours at the gender level and educational level and for elderly individuals.Design/methodology/approachThe authors use data from the Household Finance and Consumption Survey for 14 European countries and adopt an instrumental variable approach. They use information on the type of donor (family and nonfamily) to infer the degree of anticipation of a wealth transfer.FindingsThe authors find that unexpected wealth transfers have a negative impact on labour force participation, with a stronger impact for gifts than for inheritances. For gender, they find larger negative impacts for females than for males, which is in line with a weaker attachment to the labour market. Receiving an unexpected wealth transfer may also result in early retirement.Originality/valueThe paper offers a novel comparison of the effect of receiving an inheritance or a gift on labour force participation using a unique European dataset. The authors investigate whether males and females react differently to the receipt of a wealth transfer and the existence of different responses at the educational level and for elderly individuals.

scholarly journals Globalization and female economic participation in MINT and BRICS countries

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tolulope Osinubi ◽  
Simplice Asongu
Keyword(s):  
Negative Impact ◽  
Positive Impact ◽  
Labour Force ◽  
Participation Rate ◽  
Labour Force Participation ◽  
Labour Force Participation Rate ◽  
Content Type ◽  
Brics Countries ◽  
Long Run ◽  
Economic Participation

PurposeThis study examines the effect of globalization on female economic participation (FEP) in MINT (Mexico, Indonesia, Nigeria and Turkey) and BRICS (Brazil, Russia, India, China and South Africa) countries between 2004 and 2018.Design/methodology/approachFour measures of globalization are employed and sourced from KOF globalization index, 2018, while the female labour force participation rate is a proxy for FEP. The empirical evidence is based on the Pooled Mean Group (PMG) estimator.FindingsThe findings of the PMG estimator from the Panel ARDL method reveal that political and overall globalization in MINT and BRICS countries have a positive impact on FEP, whereas social globalization exerts a negative impact on FEP in the long-run. It is observed that economic globalization has no long-run effect on FEP. Contrarily, all the measures of globalization reflect no short-run effect on FEP. This supports the argument that globalization has no immediate effect on FEP. Thus, it is recommended that both MINT and BRICS countries should find a way of improving the process of globalization generally to empower women to be involved in economic activities.Originality/valueThis study complements the extant literature by focusing on how globalization dynamics influence FEP in the MINT and BRICS countries.

scholarly journals Government strategies for supporting the adult worker model in European countries: mixed implications for defamilisation

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wai Kam Yu ◽  
Iris Po Yee Lo ◽  
Chui Man Chau
Keyword(s):  
Negative Impact ◽  
Labour Force ◽  
Labour Force Participation ◽  
Comparative Data ◽  
Content Type ◽  
Pension Reforms ◽  
Adult Worker ◽  
Empirical Significance ◽  
Pension Age ◽  
New Strategies

PurposeThis article explores the link between defamilisation studies and studies of the adult worker model and discusses the mixed implications that government strategies for supporting the adult worker model have for defamilisation. The adult worker model emphasises that all adult men and women ought to engage in formal employment; defamilisation studies stress the importance of enhancing women's chances of choosing (not) to perform important family roles such as the receiver of financial support and the care provider.Design/methodology/approachTwo new strategies (“condition building” and “rewarding/penalising”) for promoting the adult worker model are identified based on literature review; their empirical significance is explored through an examination of comparative data concerning early childhood education and care policies (ECEC) and reforms in pension age in 14 countries.FindingsThe evidence shows that promoting the adult worker model does not necessarily benefit all women. While the 14 countries provide ECEC to varying extents, the increase in pension age in most countries shows that governments adopt a “rewarding/penalising” strategy for promoting the adult worker model by allocating major welfare based on people's labour force participation. These pension reforms may generate a negative impact on women's chances of attaining financial autonomy.Originality/valueThis study presents two new strategies for promoting the adult worker model and shows the empirical significance of these strategies based on comparative data. It also highlights the importance of searching for alternative concepts, namely economic defamilisation, for guiding pension reforms.

scholarly journals Unemployment and spell duration during the Great Recession in the EU

2015 ◽  
Vol 36 (2) ◽  
pp. 216-235 ◽  
Author(s):  
Carlos Gradín ◽  
Olga Cantó ◽  
Coral del Río
Keyword(s):  
Great Recession ◽  
Negative Impact ◽  
Labour Force ◽  
Future Research ◽  
Cross Sectional ◽  
Content Type ◽  
The Great Recession ◽  
Unemployment Spells ◽  
Practical Implications ◽  
The Eu

Purpose – The purpose of this paper is to analyze the different dynamic characteristics of unemployment in a selected group of European Union countries during the current Great Recession, which had unequal consequences on employment depending on the country considered. Design/methodology/approach – The paper follows Shorrocks’s proposal of a duration-sensitive measure of unemployment, and uses cross-sectional data reported by Eurostat coming from European Labour Force Surveys. Findings – The results add some evidence on the relevance of incorporating spells’ duration in measuring unemployment, finding remarkable differences in unemployment patterns in time among European countries. Research limitations/implications – In this paper unemployment is analyzed for all the labor force. Future research should investigate patterns across specific groups such as young people, women, immigrants or the low skilled. Practical implications – It is generally accepted that the negative impact of unemployment on individual welfare can be very different depending on its duration. However, conventional statistics on unemployment do not adequately capture to what extent the recession is not only increasing the incidence of unemployment but also its severity in terms of duration in time of ongoing unemployment spells. The paper shows an easy and practical way to do it in order to improve the understanding of the unemployment phenomenon, using information usually reported by statistical offices. Originality/value – First, the paper provides a tool for dynamic analysis of unemployment based on reported cross-sectional data. Second, the paper demonstrates the empirical relevance of considering spells’ duration when assessing differences in unemployment across countries or in unemployment trends. This is usually neglected or only partially addressed by most conventional measures of unemployment.

The dynamic relationships between the female labour force and the economic growth

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Durmuş Çağrı Yıldırım ◽  
Hilal Akinci
Keyword(s):  
Economic Growth ◽  
Labour Force ◽  
Participation Rate ◽  
Labour Force Participation ◽  
Female Labour Force Participation ◽  
Middle Income ◽  
Female Labour ◽  
Content Type ◽  
Middle Income Countries ◽  
Total Labour

PurposeIn this study, the relationship between female labour force participation rate and economic growth is investigated in middle-income countries. The study covers the period of 2001–2016 by employing a dynamic panel approach. Pooled Ordinary Least Square and Fixed Effects model estimations are calculated as a decision criterion to select proper GMM Method. The outcomes indicate that the proper estimation technique, which is a System-GMM model, evidences the U Feminisation Theory for the middle-income countries while controlling all other factors.Design/methodology/approachThe novelty of this study is that the research not only employs both difference and system generalised method of moments (GMM) estimators but also includes main explanatory variables such as education, fertility, and total labour force rate. The study provides an opportunity to review the U-shape nexus between the female labour force and economic growth while controlling education, fertility and total labour participation rate.FindingsThe estimation implies that middle-income countries support a U-shaped relationship. The fertility rate does not impact on the female labour force, and education and total labour force level have a positive influence on women's participation in the labour market.Research limitations/implicationsThis study used data that include the period of 2001–2016 for middle-income countries. So, further studies can use different periods of data or different countries.Practical implicationsThe authors emphasise the importance of economic growth for female labour force for middle-income countries. Thus, a country intending to increase female labour force should also focus on its economic growth. As the study points out, middle-income countries staying under the minimum threshold, $4698.15 (per capita), should priorities their economic improvement policies to reach their female labour force participation goal. Those countries also should be prepared for a female labour force participation declining phase until they reach the turning point income level.Social implicationsFurthermore, education is one of the critical determinants that have an impact on FLFPR. The equal opportunity for both genders to engage in education should be considered as a policy. If females do not have an equal chance to enrolment in education, it may influence the policy of increasing female labour force adversely. Fertility rate appears no more statistically significant in our study. Moreover, today, there are some countries they practise equality between genders by providing equally extended parental leave, which may be a promising policy for gender equality in the labour force and may worth a try.Originality/valueSome previous studies may suffer model mistakes due to lack of consideration the endogeneity problem and bias issue of the results as suggested by Tam (2011). Moreover, previous studies tend to choose either studying U-feminisation as excluding other variables or studying determinants of female labour force participation rate as excluding U-feminisation theory. There is not any panel data study acknowledging both concepts by using recent data to the best knowledge of the authors. Thus, the novelty of this study is that the research not only employs both difference and system generalised method of moments (GMM) estimators but also includes main explanatory variables such as education, fertility, and total labour force rate. The study provides an opportunity to review the U-shape nexus between the female labour force and economic growth while controlling education, fertility and total labour participation rate.

Labour supply dynamics at the extensive and intensive margins of the UK men and women

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Lixin Cai
Keyword(s):  
Labour Supply ◽  
Labour Force ◽  
State Dependence ◽  
Labour Force Participation ◽  
Tobit Model ◽  
The State ◽  
Individual Heterogeneity ◽  
Content Type ◽  
Extensive And Intensive Margins ◽  
The Uk

PurposeThe purpose of this study is to enhance understanding labour supply dynamics of the UK workers by examining whether and to what extent there is state dependence in the labour supply at both the extensive and intensive margins.Design/methodology/approachA dynamic two-tiered Tobit model is applied to the first seven waves of Understanding Society: the UK Household Longitudinal Study. The model used accounts for observed and unobserved individual heterogeneity and serially correlated transitory shocks to labour supply to draw inferences on state dependence.FindingsThe results show that both observed and unobserved individual heterogeneity contributes to observed inter-temporal persistence of the labour supply of the UK workers, and the persistence remains after these factors are controlled for, suggesting true state dependence at both the extensive and intensive margins of the labour supply. The study also finds that at both the margins, the state dependence of labour supply is larger for females than for males and that for both genders the state dependence is larger for people with low education, mature aged workers and people with long-standing illness or impairment. The results also show that estimates from a conventional Tobit model may produce misleading inferences regarding labour supply at the extensive and intensive margins.Originality/valueThis study adds to the international literature on labour supply dynamics by providing empirical evidence for both the extensive and intensive margins of labour supply, while previous studies tend to focus on the extensive margin of labour force participation only. Also, unlike earlier studies that often focus on females, this study compares labour supply dynamics between males and females. The study also compares the estimates from the more flexible two-tiered Tobit model with that from the conventional Tobit model.

Structure and growth of employment: evidence from India KLEMS data

2019 ◽  
Vol 12 (2) ◽  
pp. 202-228
Author(s):  
Suresh Chand Aggarwal ◽  
Bishwanath Goldar
Keyword(s):  
Growth Rate ◽  
Employment Growth ◽  
Labour Force ◽  
Participation Rate ◽  
Labour Force Participation ◽  
Recent Period ◽  
Data Set ◽  
Labour Force Participation Rate ◽  
Content Type ◽  
Employment Elasticity

Purpose This study aims to analyze the structure and trend in employment in the Indian economy between 1980-8081 and 2015-2016. Design/methodology/approach Use of India KLEMS data set. Estimate growth rate of employment and discuss employment prospects using “Point” employment elasticity. Findings Whilst India’s GDP growth rate has been quite impressive since the reforms of 1991, the rate of employment growth, especially in the recent period of 2003-2015, has been quite slow (1 per cent) with low employment elasticity (0.1). The pattern of employment growth has also been imbalanced with slow rate of employment growth in manufacturing and rapid growth rate in the construction sector. India now also has low labour force participation rate and a large share of informal employment in the economy. Research limitations/implications The limitation is the lack of reliable data on employment for the recent period. Practical implications With overall low employment elasticity, India would have to explore sectors where more employment opportunities could be created. Social implications India has to create not only more jobs but also “good” jobs. Originality/value The India KLEMS data provide a time series for employment, which has been used in this paper to find “Point” elasticity instead of arc elasticity of employment and is an improvement over existing employment elasticity estimates.

Microfinance and domestic violence

2020 ◽  
Vol 22 (5) ◽  
pp. 333-351
Author(s):  
Khondker Aktaruzzaman ◽  
Omar Farooq
Keyword(s):  
Domestic Violence ◽  
Violence Against Women ◽  
Physical Violence ◽  
Psychological Violence ◽  
Content Type ◽  
Variable Approach ◽  
Women's Participation ◽  
Physical And Psychological Violence ◽  
The Impact ◽  
Instrumental Variable Approach

Purpose The purpose of this paper is to document the impact of participation in microfinance programs on domestic violence against women. Design/methodology/approach This paper uses the survey data from 69 villages in Bangladesh and the instrumental variable approach to estimate the effect of participation in microcredit programs on domestic violence. Findings The results show that women’s participation in microcredit programs does not reduce domestic violence. However, this result is possible only when the authors do not distinguish between female borrowers who have control over credit and those who do not have control over credit. Classifying female borrowers into these two categories can significantly change the results. The authors report significantly lower physical violence against those female who have control over credit. In case of psychological violence, the authors report no significant impact of control over microcredit. Originality/value The novelty of the paper lies in distinguishing between physical and psychological violence.

Female labour force participation: evidence from Ghana

2017 ◽  
Vol 44 (11) ◽  
pp. 1489-1505 ◽  
Author(s):  
Abena Yeboah Abraham ◽  
Fidelia Nana Akom Ohemeng ◽  
Williams Ohemeng
Keyword(s):  
Informal Sector ◽  
Rural Areas ◽  
Census Data ◽  
Labour Force ◽  
Labour Force Participation ◽  
Female Labour Force Participation ◽  
Formal Sector ◽  
Social Reforms ◽  
Female Labour ◽  
Content Type

Purpose The purpose of this paper is to examine female labour force participation (FLFP) and their employment choice between the formal and informal sectors after several institutional and social reforms such as Millennium Development Goal 3 aimed at promoting gender equality and empowerment of women by 2015, using data from Ghana’s 2010 Population and Housing Census. Design/methodology/approach In this paper, logit regression and multinomial logit techniques were employed. Findings The results show that FLFP has declined marginally from the 2005 figures; education remains the important factor in determining women’s participation in the formal sector. Strikingly 91 per cent of the FLFP is engaged in the informal sector of the Ghanaian economy, a sector with a very low contribution per head. Practical implications Interventions such as encouraging female education and retraining of self-employed females to improve upon their efficiency ought to be pursued vigorously; whiles developing rural areas for females to get equal labour opportunities and many others aimed at enhancing the efficiency and by inference earning per head of the informal sector is highly recommended. Originality/value The literature on the FLFP is thin in Ghana. The current study uses a census data unlike the previous studies and as such employed a huge sample size that reflects the reality in Ghana. The study contributed immensely to policy having established that 91 per cent of the female labour force is engaged in the informal sectors of the economy, and therefore any intervention targeting at reducing poverty and meeting the MDG 3 should be targeted at the informal sector of the Ghanaian economy.

Lower workforce will impair global GDP trend growth

2015 ◽  
Keyword(s):  
Labour Force ◽  
Labour Force Participation ◽  
The United States ◽  
Transport Systems ◽  
Hysteresis Phenomenon ◽  
Job Seekers ◽  
Content Type ◽  
Us Economy ◽  
Discouraged Workers ◽  
The Impact

Subject Changing demography and socio-economic trends in the labour force. Significance Changes in immigration and societal factors are causing labour supply shifts in the EU and the United States. Alongside the debate over the state of the US economy, there has been discussion over the persistent decline in US labour force participation and the impact on the economy of discouraged workers, who may never go back to the labour force. The United Kingdom has experienced population gains and an acceleration in the birth rate due to net immigration over the last decade. Impacts A rising UK population will pressure an already tight housing market and transport systems. High social benefits paid to younger people while actively job-seeking will encourage registration, boosting the UK labour force. Higher cyclical unemployment might become structural through the 'hysteresis' phenomenon, as job seekers get discouraged.

The role of social capital in private placement: evidence from Rule 144A debt issuances

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jianrong Wang ◽  
Haizhi Wang ◽  
Desheng Yin ◽  
Yun Zhu
Keyword(s):  
Social Capital ◽  
Heckman Selection Model ◽  
Yield Spreads ◽  
Content Type ◽  
Private Placement ◽  
Variable Approach ◽  
The Cost ◽  
Instrumental Variable Approach ◽  
Heckman Selection

PurposeThe purpose of this paper is to investigate the role of social capital in the issuances of Rule 144A debt. Using a sample of 1,378 debt offerings from 1997 to 2015 in the US, this paper provides empirical evidence on whether and to what extent social capital affects the cost of Rule 144A debt.Design/methodology/approachThis paper employs a county-level measure of social capital and links social capital to the yield spreads of Rule 144A debt. A Heckman selection model is sued to address the sample selection bias, and an instrumental variable approach and propensity score matching methodology are implemented to deal with the potential endogeneity issue. The authors check for robustness using an alternative measure of social capital.FindingsThe results of the analysis provide evidence that issuers headquartered in the counties with higher levels of social capital experience lower yield spreads in their Rule 144A debt offerings. The findings are robust to a Heckman selection model, an instrumental variable approach and propensity score matching. Furthermore, the analysis reveals the marginal effect of social capital that the effect of social capital is more pronounced for the issuing firms with higher agency cost of debt and lower institutional ownership. The effect of social capital is more prominent after financial crisis.Originality/valueThis paper provides novel evidence of the effect of social capital on the cost of privately placed debt. The issuances of Rule 144A debt are subject to significant information asymmetry and are targeted at sophisticated institutional investors. This paper sheds further light on how institutional investors incorporate the regional social capital in their pricing scheme of private placement of Rule 144A debt.

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