Mortgage credit and bankruptcy chapter choice: a case of US counties

2016 ◽  
Vol 42 (7) ◽  
pp. 680-705 ◽  
Author(s):  
Chintal Ajitbhai Desai
Keyword(s):  
Fixed Effects ◽  
Design Methodology ◽  
County Level ◽  
Mortgage Debt ◽  
Content Type ◽  
Mortgage Credit ◽  
Unsecured Debt ◽  
Level Data ◽  
Generalized Estimation Equation ◽  
Us Counties

Purpose – A financially distressed homeowner considers bankruptcy filing, either Chapter 7 or Chapter 13, to delay foreclosure. On one hand, Chapter 13 filing takes longer processing time, spreads mortgage arrearages over the debt repayment period, and increases the possibility of loan modification. On the other hand, Chapter 7 filing discharges unsecured debt, which provides additional disposable income for mortgage payments. The paper aims to discuss these issues. Design/methodology/approach – The author uses fixed-effects (within variation), random-effects, and generalized estimation equation models with time dummies on the panel data of US counties. Findings – The results show that mortgage delinquency increases Chapter 7 filings, while it has positive but statistically insignificant effect on Chapter 13 filings. In addition, a county’s mortgage debt to income and proportion of mortgage borrowers increase its Chapter 7 filings. Originality/value – The contribution of the paper is to assess the effect of mortgage credit on the bankruptcy chapter choice using the county-level data.

Personnel policy adjustments when apprentice positions are unfilled

2019 ◽  
Vol 40 (5) ◽  
pp. 958-978
Author(s):  
Tina Hinz
Keyword(s):  
Fixed Effects ◽  
Design Methodology ◽  
Data Set ◽  
Personnel Policy ◽  
Content Type ◽  
Apprenticeship Training ◽  
Level Data ◽  
Iab Establishment Panel ◽  
Policy Adjustments ◽  
Practical Implications

Purpose German establishments face increasing difficulties in filling their apprentice positions. Thus, firms are less able to train (and later retain) their own skilled workforce. The purpose of this paper is to analyse the firms’ personnel policy adjustments in response to unfilled apprentice positions. Design/methodology/approach To estimate the within-firm personnel policy adjustments when unfilled apprentice positions arise, fixed effects panel estimations are applied to a large German establishment-level data set, the IAB Establishment Panel (2008–2016). Findings The estimates indicate that some firms post slightly more apprentice positions in the period after facing unfilled apprentice positions. Moreover, the results reveal that affected craft establishments in urban regions retain more apprenticeship graduates. Besides of these findings, there are no indications of emphasised personnel policy adjustments. Practical implications The multivariate results do not support the claim that training firms may abstain from apprenticeship training when facing unfilled apprentice positions. Originality/value The study shows first evidence of firms’ personnel policy adjustments when apprentice positions remain vacant in Germany, a country with a traditionally high relevance of apprenticeship training.

Want to reduce the bullwhip? Measure it. Here’s how

2017 ◽  
Vol 22 (4) ◽  
pp. 297-304 ◽  
Author(s):  
Ming Jin ◽  
Nicole DeHoratius ◽  
Glen Schmidt
Keyword(s):  
Small Perturbation ◽  
Design Methodology ◽  
Bullwhip Effect ◽  
End Users ◽  
Social Implications ◽  
Content Type ◽  
Novel Approach ◽  
Level Data ◽  
Beer Game ◽  
Practical Implications

Purpose The popular “beer game” illustrates the bullwhip effect where a small perturbation in downstream demand can create wild swings in upstream product flows. The purpose of this paper is to present a methodical framework to measure the bullwhip effect and evaluate its impact. Design/methodology/approach This paper illustrates a framework using SKU-level data from an industry-leading manufacturer, its distributors, end-users and suppliers. Findings Firms benefit from tracking multiple intra-firm bullwhips and from tracking bullwhips pertinent to specific products, specific suppliers and specific customers. The framework presented in this paper enables managers to pinpoint bullwhip sources and mitigate bullwhip effects. Research limitations/implications This paper presents a framework for methodically measuring and tracking intra-firm and inter-firm bullwhips. Practical implications A disconnect exists between what is known and taught regarding the bullwhip effect and how it is actually tracked and managed in practice. This paper aims to reduce this gap. For the various products analyzed herein, the authors show how using this framework has the potential to reduce delivered product cost by 2 to 15 per cent. Social implications Properly managing the bullwhip leads to lower inventories and potentially lower product prices while simultaneously increasing firm profits. Originality/value This paper presents a novel approach to systematically tracking intra-firm bullwhips along with bullwhips specific to a given supplier or customer.

Relative supervisor education and worker well-being

2018 ◽  
Vol 39 (5) ◽  
pp. 731-745
Author(s):  
Benjamin Artz
Keyword(s):  
Fixed Effects ◽  
Design Methodology ◽  
Well Being ◽  
Longitudinal Survey ◽  
Content Type ◽  
Omitted Variable Bias ◽  
Worker Education ◽  
Education Levels ◽  
Variable Bias ◽  
The Relationship

Purpose Less educated supervisors create worker status incongruence, a violation of social norms that signals advancement uncertainty and job ambiguity for workers, and leads to negative behavioral and well-being outcomes. The purpose of this paper is to compare education levels of supervisors with their workers and measure the correlation between relative supervisor education and worker job satisfaction. Design/methodology/approach Using the only wave of the 1979 National Longitudinal Survey of Youth that identifies education levels of both supervisor and worker, a series of ordered probit estimates describe the relationship between supervisor education levels and subordinate worker well-being. Extensive controls, sub-sample estimates and a control for sorting confirm the estimates. Findings Worker well-being is negatively correlated with having a less educated supervisor and positively correlated with having a more educated supervisor. This result is robust to a number of alternative specifications. In sub-sample estimates, workers highly placed in an organization’s hierarchy do not exhibit reduced well-being with less educated supervisors. Research limitations/implications A limitation is the inability to control for worker fixed effects, which may introduce omitted variable bias into the estimates. Originality/value The paper is the first to introduce relative supervisor–worker education level as a determinant of worker well-being.

The rationale of part-time farming: empirical evidence from Norway

2017 ◽  
Vol 44 (1) ◽  
pp. 53-59 ◽  
Author(s):  
Klaus Mittenzwei ◽  
Stefan Mann
Keyword(s):  
Empirical Evidence ◽  
Household Income ◽  
Design Methodology ◽  
Farm Households ◽  
Apparent Contradiction ◽  
Content Type ◽  
Level Data ◽  
Part Time ◽  
On Farm ◽  
Practical Implications

Purpose Outside farming, pluriactivity is generally considered as undesirable, whereas agricultural economists tend to recommend part-time farming. This contradiction is to be solved. The paper aims to discuss this issue. Design/methodology/approach Linking tax-payer and statistical farm-level data from Norway, the authors tested how profitable part-time farming is for Norwegian farm households. Findings The analysis showed that concentrating on either working on-farm or off-farm generates a higher household income than combining the two. Practical implications Part-time farming may be a lifestyle decision, but apparently is not economically optimal for most farms. Originality/value The contribution solves an apparent contradiction between the discourses inside and outside agriculture.

Composite actors as participant protection: methodological opportunities for ethnographers

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jennifer MJ Yim ◽  
Peregrine Schwartz-Shea
Keyword(s):  
Data Sharing ◽  
Design Methodology ◽  
Content Type ◽  
Individual Level ◽  
Research Participants ◽  
Level Data ◽  
Methodological Aspects ◽  
Ethnographic Narratives

PurposeThe purpose of this article is to persuade ethnographers to consider using composites for studies in which protecting participants from identification is especially important. It situates the argument in the context of the transparency and data sharing movements' uneven influence across disciplines.Design/methodology/approachThe paper reviews problems in maintaining confidentiality of research participants using pseudonyms and masking. It analyzes existing literature on composites, conditions of composite use and identifies composite actors as a form useful to place-based ethnography. Methodological aspects of composite actor construction are discussed along with potential opportunities composites offer.FindingsConstruction of composite actors is best accomplished by aggregating thematically during deskwork. Composites provide enhanced confidentiality by creating plausible doubt in the reader's mind, in part, through the presentation of aggregate rather than individual-level data.Originality/valueThis discussion advances the methodology of constructing composites, particularly composite actors, providing guidance to increase trustworthiness of ethnographic narratives that employ composites.

Which food prices were more vulnerable to the COVID-19 blockade regulations in China? Comparison between perishable and storable vegetables

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yupeng Wang ◽  
Satoru Shimokawa
Keyword(s):  
Spatial Dependence ◽  
Fixed Effects ◽  
Design Methodology ◽  
Food Prices ◽  
Panel Var ◽  
Fixed Effects Model ◽  
Dynamic Panel ◽  
Data Set ◽  
Content Type ◽  
The Impact

PurposeThis paper aims to investigate how differently the COVID-19 blockade regulations influence the prices of perishable and storable foods. The authors focus on the cases of the 2020 blockade at Hubei province and the 2021 blockade at Shijiazhuang city in China, and the authors examine how the blockade influenced the prices of Chinese cabbages (perishable) and potatoes (storable) within and around the blockade area.Design/methodology/approachThe paper employs the fixed effects model, the panel VAR (PVAR) model, and the spatial dynamic panel (SPD) model to estimate the impacts of the blockade on the food prices. It constructs the unique data set of 3-day average prices of Chinese cabbages and potatoes at main wholesale markets in China during the two urban blockade periods from January 1 to April 8 in 2020 and from January 1 to March 1 in 2021.FindingsThe results from the SPD models indicate that the price of Chinese cabbages was more vulnerable and increased by 7.1–9.8% due to the two blockades while the price of potatoes increased by 1.2–6.1%. The blockades also significantly influenced the prices in the areas adjacent to the blockade area. The SPD results demonstrate that the impacts of the blockades would be overestimated if the spatial dependence is not controlled for in the fixed effects model and the PVAR model.Research limitations/implicationsBecause the research focuses on the cases in China, the results may lack generalizability. Further research for other countries is encouraged.Originality/valueThis paper demonstrates the importance of considering food types and spatial dependence in examining the impact of the COVID-19 blockades on food prices.

How the peer-to-peer market for tourist accommodation has responded to COVID-19

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Beatriz Benítez-Aurioles
Keyword(s):  
Panel Data ◽  
Fixed Effects ◽  
Design Methodology ◽  
Peer To Peer ◽  
Content Type ◽  
Public Managers ◽  
Before And After ◽  
Tourist Accommodation ◽  
The Impact ◽  
Practical Implications

Purpose This study aims to analyze the COVID-19 pandemic’s impact on the peer-to-peer (p2p) market for tourist accommodation. Design/methodology/approach Using monthly panel data from Airbnb listings in 22 cities worldwide, the authors run a differences-in-differences analysis comparing the period of February–October 2020 to the previous year. Findings Besides a decline in accommodation supply, the pandemic made prices and demand fall in all cities significantly, after controlling for room characteristics, host traits, booking policies and individual fixed effects. There is also evidence of an alteration of the influence on prices of certain variables such as superhost and instant booking. Research limitations/implications The main limitations are related to the reference spatial and temporal environment. Besides, the samples are limited to listings that stayed before and after the pandemic; therefore, it is possible that the real effect on review growth and/or prices is actually more negative. Practical implications The analysis performed shows a scenario that represents an opportunity for public managers to test more imaginative regulations that overcome the limitations of those implemented so far. Likewise, hosts who aspire to make their accommodations profitable must adapt to the conditions imposed by the economic environment of the cities in which they operate. Originality/value This is the first study to econometrically estimate the impact of COVID-19 on prices in the p2p market for tourist accommodation in a set of cities worldwide.

scholarly journals Negative equity in Ireland: estimates using loan-level data

2014 ◽  
Vol 7 (3) ◽  
pp. 327-344 ◽  
Author(s):  
David Duffy ◽  
Niall O’Hanlon
Keyword(s):  
Design Methodology ◽  
Time Series Data ◽  
House Prices ◽  
Age Groups ◽  
Series Data ◽  
Data Set ◽  
Content Type ◽  
Equity Analysis ◽  
Level Data ◽  
Younger Age

Purpose – This paper aims to, using a unique loan-level data set, show the extent to which negative equity in Ireland is concentrated in younger age groups. The sharp decline in house prices since 2007 has led to the emergence of widespread negative equity in Ireland. However, little is known about the type of borrower experiencing negative equity. Design/methodology/approach – This paper uses a unique data set that, for a large sample of mortgages, provides details on both the characteristics of the borrowers and their mortgages. Using this data set, the paper estimates the incidence of negative equity by analysing loans taken out to purchase a primary residence in the period 2005-2012. Findings – The analysis finds the situation in Ireland to be much more severe than that being experienced in other housing market downturns at present, with 64 per cent of borrowers in the period 2005-2012 experiencing negative equity. Analysis by age gives rise to concern, with the majority of those in negative equity aged under 40 years. The paper also points to the large wealth loss experienced by Irish households, in the order of 43 billion, as a result of the fall in property values. Originality/value – The paper is one of the first using loan-level time-series data in Ireland. It highlights the growth in negative equity during the crisis and the extent to which it is concentrated in the younger age groups. It also provides an estimate of the loss in wealth suffered by all households due to the fall in Irish house prices.

Analysts’ optimism and stock crash risk

2019 ◽  
Vol 46 (3) ◽  
pp. 323-343
Author(s):  
Hyunkwon Cho ◽  
Robert Kim
Keyword(s):  
Fixed Effects ◽  
Stock Return ◽  
Design Methodology ◽  
Positive Impact ◽  
Positive Association ◽  
Crash Risk ◽  
Negative Consequences ◽  
Content Type ◽  
Practical Implications ◽  
Shed Light

Purpose The purpose of this paper is to investigate whether analysts’ optimism affects the stock crash risk. Design/methodology/approach The sample covers 49,246 firm-year observations for the period between 1995 and 2015. The authors use OLS regressions with firm and year fixed effects for analyses. Findings The study finds that there is a positive association between analysts’ optimism and stock crash risk. Such a positive impact is more pronounced for firms with opaque information environment and for analysts who are considered ex ante credible. Research limitations/implications The results indicate that analysts’ optimism can be an important source of stock crash risk. Practical implications The findings can be useful for informational users of analyst reports. Given that information provided by analysts might have negative consequences, the empirical results can be useful in assessing future stock return behaviors. Originality/value This paper has the potential to shed light on the large literature of crash risk. Prior studies suggest that crash is driven by the agency tension between shareholders and managers. It remains possible that crashes could be caused by overpriced stocks in the absence of bad news hoarding. The paper investigates crash from a perspective, financial analysts, that is underexplored.

scholarly journals Population Change and Income Inequality in Rural America

2020 ◽  
Author(s):  
Jaclyn L.W. Butler ◽  
Grace Wildermuth ◽  
Brian C. Thiede ◽  
David L. Brown
Keyword(s):  
Income Inequality ◽  
Population Growth ◽  
Rural Areas ◽  
Fixed Effects ◽  
Population Change ◽  
Population Decline ◽  
The United States ◽  
County Level ◽  
Level Data ◽  
The Relationship

This paper examines the effects of population growth and decline on county-level income inequality in the United States from 1980 to 2016. Findings from previous research have shown that income inequality is positively associated with population change, but these studies have not explicitly tested for differences between the impacts of population growth and decline. Understanding the implications of population dynamics is particularly important given that many rural areas are characterized by population decline. We analyze county-level data (n=15,375 county-decades) from the Decennial Census and American Community Survey (ACS), applying fixed effects models to estimate the respective effects of population growth and decline on income inequality, to identify the processes that mediate the links between population change and inequality, and to assess whether these effects are moderated by county-level economic and demographic characteristics. We find evidence that population decline is associated with increased levels of income inequality relative to counties experiencing stable and high rates of population growth. This relationship remains robust across a variety of model specifications, including models that account for changes in counties’ employment, sociodemographic, and ethnoracial composition. We also find that the relationship between income inequality and population change varies by metropolitan status, baseline level of inequality, and region.

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