Inequality of Opportunities in Health in France: A first pass.

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Inequality of Opportunities in Health in France: A first pass."

Transcription

1 HEDG Workng Paper 08/24 Inequalty of Opportuntes n Health n France: A frst pass. Alan Trannoy Sandy Tubeuf Florence Jusot Maron Devaux October

2 Inequalty of Opportuntes n Health n France: A frst pass. Alan Trannoy a, Sandy Tubeuf b, Florence Jusot c, Maron Devaux d a EHESS (Ecole des Hautes Etudes en Scences Socales) and GREQAM-IDEP (Insttut d Econome Publque), Marselle. b Academc Unt of Health Economcs (Leeds Insttute of Health Scences). c LEGOS (Unversté Pars-Dauphne) and IRDES (Insttut de Recherche et de Documentaton en Econome de la Santé). d OECD, Pars. Acknowledgements Ths paper s part of the research program Inégaltés socales de santé, supported by DREES-MRe, Inserm, DGS, InVS, INCa and CANAM. The authors thank Brgtte Dormont, Brenda Gannon, Andrew Jones, Lse Rochax, Jerome Wttwer, and partcpants to the 6 th European Conference on Health Inequaltes, the 6 th World Congress of HEA, and the Health, Econometrcs and Data Group n York for ther helpful comments. 1

3 Inequalty of Opportuntes n Health n France: A frst pass Abstract Ths artcle analyses the role played by chldhood crcumstances, especally socal and famly background n explanng health status among older adults. We also explore the hypothess of an ntergeneratonal transmsson of health nequaltes usng the French part of SHARE. As the mpact of both socal background and parents health on health status n adulthood represent crcumstances ndependent of ndvdual responsblty, ths study allows us to test for the exstence n France of nequaltes of opportunty n health related to famly and socal background. Emprcally, our study reles both on tests of stochastc domnance at frst order and multvarate regressons, supplemented by a counterfactual analyss to evaluate the longlastng mpact of chldhood condtons on nequalty n health. Allocatng the best crcumstances n both parents SES and parents health reduces nequalty n health by an mpressve 57% usng the Gn coeffcent. The mother s socal status has a drect effect on the health of her offsprng. By contrast, the effect on the descendant s health from the father s socal status s ndrect only, gong through the descendant s socal status as an adult. There s also a drect effect of each parent s health on health n adulthood. Keywords: Stochastc domnance - equalty of opportunty nequalty n health ntergeneratonal transmsson older adults Gn ndex 2

4 1. Introducton It s a queston that has hovered over the research n health economcs for some tme as testfed for nstance by the edtoral of Das and Jones (2007) n ths journal or the report of the World Bank (2005): what s the role and the extent of chldhood condtons and more generally of ntal condtons n current nequalty n health among adulthood? Of course, many studes show strong and long-lastng nequaltes n health related to current socoeconomc status (Wagstaff and van Doorslaer 2000; Mackenbach et al. 1997). These health nequaltes have extensvely been explaned by dfferences n lvng and workng condtons, access to health care, or health-related behavours such as benefcal or rsky choces (van Doorslaer and Koolman 2004; Smth 1999; Deaton 2003). Recent analyses, manly epdemologcal, support evdence that these socal health nequaltes can also be explaned by lvng condtons n chldhood, even n utero (Smth 1999; Marmot and Wlknson 1999; Case et al. 2002; Curre and Stable, 2003; Curre et al. 2007; Blane et al. 2007). Ths artcle ams to get a step further n explorng the partcular role played by parents characterstcs, especally ther occupaton and ther longevty, on health status n adulthood and more specfcally among older adults and the elderly. The study of the correlaton between socal and health characterstcs of one generaton and the health status of the followng generaton s mportant both from a phlosophcal stance and from a polcy vew pont. As socal background and parents' health both represent factors beyond the realm of ndvdual responsblty (Dworkn 1981; Arneson 1989; Roemer 1998), they represent socally or morally unacceptable sources of nequalty. Consequently, they appear to be frst-rate canddates for a polcy amng at reducng nequalty n health. However at the same tme, they are the most persstent sources of nequalty and hence are dffcult to cope wth. Such an analyss of nequaltes of opportunty n health matters for comparng the role of the transmsson of the past generaton advantages to the current generaton n varous 3

5 spheres such as educaton, employment, housng or ncome dstrbuton (Bourgugnon et al. 2007; Lefranc et al. 2008; Ferrera and Ggnoux 2008). At ths stage an mportant warnng s n order. It s suffcent to uncover an assocaton between ntal condtons and health status n adulthood for nequalty of opportunty to be detected: a smple and purely descrptve correlaton s relevant n that matter. The frst goal of ths paper s precsely to exhbt such smple correlaton between data of two dfferent generatons and to fgure out what s the global mpact of ntal condtons on health status n adulthood. Of course, the study of the channels of transmsson from one generaton to another s also of nterest, specfcally n the perspectve to desgn levelng opportuntes for the economc polcy. Three potental ways of transmsson over dfferent generatons have been shown n the lterature. The frst way consders the drect nfluence of socal background on health n adulthood followng a latency perod; t s the latency model (Barker 1996; Wadsworth 1999). Durng chldhood, a specfc rsk s establshed and t needs a trgger n adulthood to be reactvated. The second way, called pathway model, reles on parents socoeconomc status havng an ndrect nfluence on the health status n adulthood through subsequent lfe trajectores and partcularly through a transmsson of socoeconomc status (SES) over dfferent generatons (Case et al. 2005) 1. Nevertheless, the correlaton between socal background and health n adulthood could also be explaned by another characterstc seldom consdered: parents health status. Indeed, f on the one hand, there are socal health nequaltes n the parents generaton, and on the other hand, parental health status s correlated to the descendant s health status, then one can nfer that socal background nfluences descendant s health status. Ths hypothess of health ntergeneratonal 1 Both models have been wdely studed usng Brtsh data and large epdemologcal cohorts (Power and Hertzman 1997; Hertzman et al. 2001; Elstad 2005; van de Mheen et al. 1998a, 1998b). In France, some studes usng ether the GAZEL cohort of employees from the natonal electrcty and gas company (Hyde et al. 2006; Melchor et al. 2006a) or the Lfe hstory survey (Melchor et al. 2006b), have shown an nfluence of the father s socal status on both the health status and rsk of death of ther descendants. 4

6 transmsson reles on health captal models (Grossman 1972). Accordng to these models, health s lkened to a captal, whch evolves over tme accordng to age, ndvdual health behavours, and nvestment n health and stays strongly nfluenced by ts ntal level. It s partly related to parents health status through a common genetc nhertance. Ths has to be dstngushed from heredtary dependence whch comes from the same exposure to a rsky lvng context such as accommodaton or neghbourhood condtons. In that case, ths nfluence would not mply a causalty lnk. Besdes, parents health may also have an mpact on descendant s health status through a transmsson of preferences for health or of health related behavours. Ths thrd hypothess s renforced by recent analyses showng the nfluence of parents health status on ther chldren s health status (Case et al. 2002; Llena- Nozal 2007). Several studes have also shown evdence of nhertance n some specfc dseases such as cancers, Alzhemer dsease and n human longevty (Ahlburg 1998; Cournl and Krkwood 2001). Nevertheless, the persstency of ths effect on a descendant s health over the whole lfe-cycle, especally for older adults and the elderly, has been seldom studed for lack of data. Ths research ams frstly to fll ths gap and secondly to nvestgate through whch channel the ntergeneratonal transmsson of health nequaltes fnds hs track. We use the French part of 2004 Survey on Health, Ageng and Retrement n Europe (SHARE). As the survey sample concerns ndvduals aged 50 and more, we test the hypothess of a long term transmsson of lvng condtons n chldhood and n teenage on health status n mature age and beyond. Two dfferent methodologes are used ether to detect the global mpact of the past generaton or to dentfy the channels of transmsson. For measurng the global mpact of ntal condtons, we call upon a frst stochastc domnance analyss whch s parameter-free usng 5

7 the methodology from Lefranc et al. (2006; 2008). Then, a more classc regresson analyss helps us to partally dentfy the channels of transmsson. The stochastc domnance analyss reveals the exstence of nequaltes of opportuntes n health n adulthood. Beyond the relatonshp wth current socal condtons, health status n adulthood s nfluenced by socal background, parents vtal status and parents longevty. The regresson analyss shows that the channel of transmsson s not the same for mothers and fathers. The mother s socal status has a drect effect on the health of her offsprng whereas the effect from the father s socal status s ndrect only, gong through the descendant s socal status as an adult. Furthermore, there s a drect effect of each parent s health on health n adulthood and hence the hypothess of health ntergeneratonal transmsson s not nvaldated n general populaton. Fnally, we assess the mpact of chldhood crcumstances usng counterfactual health dstrbutons and show that allocatng the best crcumstances n both parents SES and parents health reduces the Gn coeffcent of the probabltes of havng a good or very self assessed health status by 57%. The followng secton descrbes the data. The thrd secton defnes the concept of nequaltes of opportunty n the specfc context of health. Secton 4 presents the results of the nonparametrc approach, relyng on nstruments of stochastc domnance analyss. Secton 5 comments the estmates of multnomal logt regressons whch are used to buld counterfactual dstrbutons of health status. A dscusson of the results and concludng remarks are gathered n the fnal secton. 2. Data Ths study reles on the French part of SHARE, whch for the frst tme n France permts lnkng an ndvdual's health status n adulthood wth hs socal background on a representatve sample of adults aged 49 years and older as well as ther spouses. In 6

8 addton to ther current stuaton, ndvduals are asked about past crcumstances such as ther parents' fnal socal status and demographc characterstcs (age at death for deceased parents and age at the tme of the survey for parents stll alve). Socal background In SHARE, socal background s measured by the last job or occupaton the father or the mother had. Occupatons are descrbed wth the ISCO classfcaton (Internatonal Standard Classfcaton of Occupatons). Ths classfcaton dstngushes ten man groups of occupaton wth respect to the type of work performed (Elas, 1997). The basc crtera used to defne the system of major, sub-major, mnor and unt groups are skll level and skll specalsaton, whch are requred to carry out the tasks and dutes of the occupatons. In our analyss, these ten groups have been gathered n order to be comparable to the French-specfc PCS 2 classfcaton. Fathers job are classfed nto sx groups: () senor managers and professonals ; () techncans and assocate professonals and armed forces ; () offce clerks and servce workers and shop and market sales workers ; (v) sklled agrcultural and fshery workers ; (v) craftsmen and sklled workers and plant and machne operators and assemblers ; and (v) elementary occupatons and unsklled workers. Concernng mothers, a classfcaton n sx groups s also proposed. The fve frst groups are the same as the sx groups of the father s job, where groups () and () have been mxed as regard to very low sample. A sxth group, the group of homemakers, s added and represents almost one half of the respondents. Current socoeconomc status of the descendant Each respondent s current SES s consdered on two levels: educaton and socal status. Educaton level as measured by the hghest dploma ganed s frstly consdered. In ths way, 2 The so-called Nomenclature des Professons et Catégores Socoprofessonnelles 7

9 educaton s descrbed n four categores: no dploma (23%), elementary level dploma (31%), secondary level dploma (27%) and A-levels and unversty dplomas (19%). Then, current or last job as classfed by ISCO s consdered nto seven groups: () senor managers and professonals ; () techncans and assocate professonals and armed forces ; () offce clerks and servce workers and shop and market sales workers ; (v) sklled agrcultural and fshery workers ; (v) craftsmen and sklled workers and plant and machne operators and assemblers ; (v) elementary occupatons and unsklled workers ; and (v) homemakers. Self-assessed health of the descendant Health s a multdmensonal parameter whch s dffcult to represent as a unque ndcator. SAH s the most collected varable n ntervew-based European surveys on health. Despte ts subjectvty, ths ndcator has been found to be a good ndcator of health, whch predcts mortalty (Idler and Benyamn, 1997) as well as health care utlsaton (DeSalvo et al. 2005). SHARE contans two questons on SAH, the one, promoted by the RAND and the one recommended by the European WHO (1996). They both rely on the same queston: Would you say your health s but vary n response choces, respectvely: excellent, very good, good, acceptable, poor and very good, good, far, poor, very poor. Moreover, these two questons have been randomly postoned before or after an extended questonnare on health. Hereafter, we gnore the poston effect 3 and consder the European wordng (Fg 1). Fgure 1 about here 3 The poston of the queston has been found to nfluence SAH: people report a better SAH when the queston s asked after the extended questonnare on health (Clark and Vcard 2007). Nevertheless, our results are the same whether we ntroduce n the model a varable ndcatng the poston of the SAH queston n the questonnare or not. 8

10 The measure of parents health: the relatve longevty In general, t s dffcult to construct a health ndcator, whch would be the same for the oldest and the youngest adults as regard to the deprecaton of health wth age. To measure parents' health status, we construct a proxy of ther health status usng the only nformaton avalable on ther health avalable n the survey: ther vtal status or age at death. Consderng the age of the studed sample, most of the respondents have lost ther parents: only 13% of the fathers are stll alve and 30% of the mothers. Consequently, frst nformaton on parents health s ther vtal status n the survey. Concernng health status of deceased parents, we propose an ndcator based on ther age at death. Ths health ndcator reles on parents' relatve longevty compared to ther expected longevty at 20 years old. That s, the ndcator equals the dfference between the actual age at death mnus 20 years and the lfe expectancy at 20 years old of ther brth generaton. We assume thus that health status s better f an ndvdual has lved longer than other people of ther generaton, where all have lved (or survved) at least long enough to have chldren 4. The constructon of ths ndcator requres both the age at death and the year of brth n order to evaluate the brth cohort. The age at death s known n the survey but the year of brth has to be estmated from the descendant's year of brth and data on age at maternty and paternty n the 20 th century from another source (Daguet, 2002). We refne ths estmaton by takng nto account whether the descendant s the eldest of hs sblngs. When the respondent was not the eldest, we estmate hs mother's year of brth (respectvely hs father's one) usng the average age at maternty (respectvely paternty) of hs year of brth. Lkewse, when the respondent was the eldest, we estmate hs mother's year of brth usng natonal data on the average age at delvery for frst brths correspondng to hs year of brth. As for the father's 4 In ths context, we consder that accdental deaths are not sgnfcant. 9

11 year of brth, we estmate t reproducng the dfference between average age at maternty and average age at paternty to the average age at delvery for frst brths of mothers. The relatve longevty of both parents s descrbed n the fgure 2 and equals on average 0.67 years for mothers and 5.5 years for fathers. These dstrbutons are spread as some generatons experenced a very low lfe expectancy at 20 years old because of the world war and the Spansh nfluenza pandemc n 1918 and Fgure 2 about here Conversely to the lfe expectancy, whch equals the average age at death of a whole generaton, ths ndcator of relatve longevty concerns a selected populaton of men and women, whch has lved long enough to have chldren. In order to valdate our process of estmaton for the parents year of brth, we compare the estmated year of brth wth the actual year of brth for parents who are stll alve. The mean average dfference between these two elements equals three years for the fathers and one year for the mothers. Ths bas s not correlated to the socal status of the fathers. Nevertheless, the multple average comparsons show a sgnfcant dfference for mothers who are farmers: ther estmated year of brth would be one year later than ther actual one. Couples of farmers are known to have on average more chldren (Mazuy, 2002). Thus, we can assume that the average age at delvery for frst brths of farmers s earler than the one of other mothers. Ths bas would thus lead to an underestmaton of relatve longevty for mothers who were farmers; but as we wll see later, our results do not provde evdence of any specfc effect of ths socal category. 3. Concept and Method The ntergeneratonal equalty of opportunty n health reles on the comparson of dfferent cumulatve dstrbuton functons of health status across several sub-groups of ndvduals, dstngushed by a characterstc of the parental generaton. Health statuses are more generally descrbed wth qualtatve than quanttatve varables. The dstrbuton of health status over 10

12 dfferent categores allows defnton of the proporton of ndvduals wth a gven health status n the same generaton. One can then easly represent the cumulatve dstrbuton functon of health statuses whch shows the proporton of ndvduals wthn a specfc health status, whch s at least equal to a gven category. For nstance, n fgure 1, ndvduals wth far and poorer health would represent 35%. Ths cumulatve dstrbuton functon of the general populaton can be nterpreted as a dstrbuton of opportuntes. Indeed, a randomly selected ndvdual has a 35% chance of belongng to the group whch s at most n far health. In the context of health, one can actvely contrbute to mprove or to worsen t. Consder now that nstead of a smple descrpton of health statuses over a populaton, one s nterested n the dstrbuton of health statuses accordng to specfc characterstcs of chldhood condtons. For nstance, we fgure the cumulatve dstrbuton functon of the health status of ndvduals born ether of a father who was a blue collar worker or of a prematurely dead father. Beng the son of a blue collar worker as well as beng the son of a prematurely dead father s obvously an exogenous characterstc; descendants have no control over these factors. The fact of beng born n a partcular famly background s equvalent to get a lottery tcket, whose wnnngs wll only be known later on. The cumulatve dstrbuton functon of health status of ndvduals born to blue collar workers, 30, 40, or 50 years later descrbes the dstrbuton of equalty of opportuntes n the health of sons of blue collar workers. If on the one hand, ths cumulatve dstrbuton functon s clearly dfferent than the one of ndvduals born to whte collar workers and f on the other hand, ths dfference s such that a descendant has a hgher chance of beng n poor health when he s born to a blue collar worker, one can reasonably assocate ths result to a dfference n socal background. The prevous example s a typcal stuaton of stochastc domnance at frst order. Graphcally, the cumulatve dstrbuton functon of health statuses of ndvduals born to a blue collar worker s always above that of ndvduals born to a whte collar worker at any pont of comparson. In ths context, the 11

13 comparson of random dstrbutons of health statuses condtonal on famly background leads any ndvdual to systematcally prefer beng born to a whte collar worker than born to a blue one regardless of hs rsk-averson. There s thus a socal nequalty of opportunty n health. Conversely, f two cumulatve dstrbuton functons are the same, then one concludes that there s a socal equalty of opportunty n health. The equalty of opportunty s equvalent to a stuaton where an ndvdual would be ndfferent to the choce of a famly background. The same approach can be proposed when comparng sub-groups of ndvduals accordng to parents health. Analogously, f there are no dfferences between two cumulatve dstrbuton functons of health status, one would conclude an equalty of opportunty n health. However, n ths context, ths equalty cannot be called socal because of the ntergeneratonal transmsson of genes but one would conclude there s a health nequalty of opportunty n health. A drect nterpretaton of a complete ntergeneratonal equalty of opportunty n health would be that famly background does not endow any advantages not only on average but also on any percentle of the dstrbuton of health statuses. As a result, ether one s n poor health or good health; socal background s not a determnant of health status. In ths context, f the descendant s n poor health, ths could be explaned ether by rsky health behavours or msfortune n adult lfe. The dstrbuton of health status s the result of msfortune and factors wthn the control of the descendant. Emprcally, the nference procedure reles on tests of stochastc domnance at frst order. Snce the dstrbutons consdered are dscrete, unlateral Kolmogorov-Smrnov (KS) tests of equalty of dstrbuton are requred. One of the dffcultes of the domnance analyss s that t assumes the avalablty of large samples. If we ntersect every possble socal background wth other dfferent crtera then the sample sze reduces and the domnance tools cannot be used any longer. In partcular, we cannot test the equalty of opportunty hypothess on sub-samples of people of same age and 12

14 gender whereas we should reach at least ths precson level to test equalty of opportunty n health. Consequently, a multvarate regresson analyss nvolvng the descendant s SAH as the dependant varable supplements the domnance analyss. Ths second approach permts controllng age and gender. If the analyss offers flexblty to test for a varety of hypotheses that could not be consdered n the domnance approach, however, a parametrc context s always more restrctve. Indeed, the regresson analyss only explans mean dfferences whereas the domnance analyss s nterested n dfferences wthn dstrbutons. The quantle regresson would be the approprate tool but sample szes do not permt ts use. 4. Results of the non-parametrc approach The frst approach does not lmt the defnton of equalty of opportunty to a smple equalty of the average health status whch s condtonal on famly and socal background. Indeed, t also studes the effect of famly and socal background on the whole dstrbuton of health. From the 5-ponts health status varable, dstrbutons of health status are constructed condtonal on famly and socal background, usng domnance tests. Domnance accordng to parents relatve longevty The hypothess of nequalty of opportunty n health accordng to parents health s tested by buldng dstrbutons of health status condtonal on each parent s health status. In order to rely on comprehensve numbers of observatons, parental health s consdered as a threecategory varable whch dstngushes () parents alve n the survey () parents havng had a hgh relatve longevty (.e. a relatve longevty hgher than the medan 5 of the relatve longevty dstrbuton), and () prematurely dead parents (.e. those havng had a relatve longevty lower than the medan). Fgure 3 shows nequaltes of opportuntes n health accordng to the father s health as well as the mother s health. Indeed, the dstrbuton of health of ndvduals whose parents are stll 5 The medan respectvely equals 7.78 years for fathers and 2.18 years for mothers. 13

15 alve domnates the dstrbuton of health of ndvduals whose parents are deceased and dfferences are sgnfcant for both parents. On the contrary, no sgnfcant domnance s observed between dstrbutons of health of ndvduals whose parents had a weak longevty and those of ndvduals whose parents had a hgh longevty. Ths frst result does not allow us to conclude that there are nequaltes of opportuntes n health related to parental health because the respondent s age, whch s not consdered, could explan these dfferences. Fgure 3 about here Younger respondents are more lkely to be n better health and to have parents stll alve. In order to take nto account the respondent s age, we restrct the analyss to the age category years old whch contans both ndvduals whose parents are alve and ndvduals whose parents are deceased. The comparson of dstrbutons of respondent s health related to parents health shows small dfferences between the three parental health categores. Fgure 4 descrbe ranked health cumulatve dstrbuton functons favourng ndvduals whose parents are alve, and then ndvduals whose parents experenced a hgh longevty, nevertheless the correspondng KS tests (cf. table I) do not show sgnfcant dfferences between dstrbutons. Fgure 4 and table I about here Domnance accordng to socal background We test nequalty of opportunty n health accordng to socal background and therefore compare dstrbutons of health status accordng to each parent s socoeconomc status 6. Respondents born to senor managers and professonals or techncans and assocate professonals and armed forces are more lkely to report a good health status than a respondent born to sklled agrcultural and fshery workers, craftsmen and sklled workers or elementary occupatons and unsklled workers. Fgure 5-A represents the cumulatve 6 The result (proposton 3 n Lefranc et al. 2006) shows that when socal background s not fully descrbed, whch s lkely to be the case, equalty of dstrbutons condtonal on socal background s a necessary condton for equalty of opportunty. As a result, f the KS test shows sgnfcant dfference between cumulatve dstrbuton functons then we can say that equalty of opportunty s volated f we had the opportunty to measure perfectly socal background. 14

16 dstrbuton functon of descendants SAH condtonal on ther father s socal status. The cumulatve proporton of ndvduals n very poor and poor health born n hgh socal background s smaller than the cumulatve proporton of those born n socally dsadvantaged famles. The KS unlateral tests n table II confrm the exstence of nequaltes of opportunty n health accordng to the father s socal status. The dstrbutons of health of respondents whose father was senor managers and professonal or techncan and assocate professonal and n armed forces sgnfcantly domnate the dstrbutons of health of respondents whose father was sklled agrcultural and fshery worker, craftsman and sklled worker or n elementary occupatons and unsklled worker. Moreover, the results show the dstrbuton of health n adulthood of respondents born to an offce clerk or a servce worker domnates sgnfcantly the one of those born to an unsklled workers. The results are smlar for the mother s socoeconomc status (cf. fg. 5-B and table II). The dstrbuton of health status of ndvduals born to a mother n the groups of senor managers, professonals and techncans or offce clerks and servce workers domnates sgnfcantly the dstrbuton of health of those born to a mother who belonged to any other socal category. Therefore, the descendant s health s better f hs mother had a hgher socoeconomc poston. Fgure 5 and table II about here Ths non-parametrc approach shows the exstence of nequaltes of opportunty n health accordng to socal background and to a lesser extent, accordng to parents health, whch represent crcumstances ndependent from ndvdual responsblty. Domnance accordng to current socoeconomc status Tradtonally, studes whch are nterested n socal health nequaltes analyse the effects of current socal condtons on health n adulthood. We now consder the descendant s socal status as a condtonal varable n order to test for socal health nequaltes and to compare them to nequaltes of opportunty n health prevously shown. 15

17 As shown on fgure 6, there are socal health nequaltes accordng to current socal status. The dstrbuton of SAH of senor managers and professonals and techncans and assocate professonals and armed forces domnates the one of offce clerks servce workers, sklled agrcultural and fshery workers, craftsmen and sklled workers, elementary occupatons and unsklled workers, and homemakers. Smlarly, offce clerks and servce and shop workers have a hgher probablty of beng n very good health than sklled agrcultural and fshery workers, craftsmen and sklled workers and elementary occupatons and unsklled workers. These socal health nequaltes are sgnfcant (cf. table III) and are even more pronounced than nequaltes of opportunty n health when related to the father s socal status. There are more sgnfcant unlateral tests for dstrbutons of health status n adulthood when t s condtonal on current socal status than on the father s socal status. Nevertheless, nequaltes of opportunty due to famly and socal background are not neglgble and deserve to be consdered. Fgure 6 and Table III about here 5. Results of the parametrc approach Consderng that ndvdual s health s measured by a 5-ponts varable, we estmate the effect of famly background varables usng ordered polytomous logstc regressons. Our estmaton strategy follows three steps and results are presented n table IV; they are nterpreted n terms of proportonal odds ratos. Model 1 estmates the mpact of parents socoeconomc status and relatve longevty on the probablty to report good health controllng the respondent s age and gender 7. 7 The constructon of the relatve longevty ndcator would make ths varable correlated to respondent s age as t s used to estmate hs parents brth cohort. In order to check that the relatve longevty varable s relable, we have tested an alternatve model to ths frst model where parents age at death s used nstead of the relatve longevty. The odds rato n ths alternatve model are very close to those n model 1, t confrms that relatve longevty s a vald nstrument and does not ntroduce partcular bas n our analyss. 16

18 We supplement ths frst model wth other specfcatons for two reasons. Frstly, the ntal specfcaton can be crtcsed because of omtted varables, whch mght nduce an endogenety bas of parents socoeconomc status as regard to descendant s health n adulthood. Secondly, t s nterestng to understand through whch transmsson channels socal background nfluences health n adulthood. Model 2 adds the respondent s educaton level to test f the nfluence of socal background shown n model 1 comes from a drect effect of ths background on health or from an ndrect effect gong through educaton level. Model 3 ntroduces the respondent s socoeconomc status n order to show drect effects of socal background on self-assessed health ndependently from the effect of socal background on respondent s socoeconomc status. Table IV about here Influence of socal background and parents relatve longevty Model 1 estmates the followng equaton where H represents self-assessed health n adulthood, F s a cumulatve dstrbuton functon assocated to the logstc dstrbuton, and SES Fath and SES Moth represent parents socal status. H * F( Gender Age SES 4 1 Moth Alve 5 2 Moth SES 6 1 Long Fath Moth ) Alve 2 Fath Long 3 Fath (1) The varables Alve Fath and Alve Moth are dummy varables ndcatng f the father (respectvely the mother) s alve n 2004 and Long Fath and Long Moth are contnuous varable representng the relatve longevty of deceased parents. As expected, the probablty to have a good SAH strongly reduces wth age but there are no sgnfcant dfferences by gender. The results show that the probablty of self-assessng a poor health n adulthood decreases wth parents SES. An ndvdual born to a father whose occupaton s ether senor managers and professonals or techncans and assocate professonals and armed forces or offce clerks and servce workers, has a sgnfcantly lower probablty of poor health status than 17

19 those whose father has an elementary occupaton, after adjustng for age and gender. These results match exactly wth those emphassed by the domnance approach. As for mothers SES, a respondent whose mother had an elementary occupaton always has a hgher probablty of poor health status n adulthood than someone born to a mother who was a homemaker. Moreover, ndvduals born to parents who had a hgher relatve longevty are sgnfcantly more lkely to report better health. It s also true for ndvduals whose father s stll alve. The dfference of sgnfcance accordng to the gender of the parent reflects what the longevty varable means: f the father of a respondent of ths generaton s stll alve then he has gone through several hardshps such as world war. Regardng the lower longevty of men, ths element s more nformatve on natural robustness of parents than the fact that the mother s stll alve. Influence of socal background, parents relatve longevty and current socoeconomc status We shall denote the descendant s educaton as Educ, model 2 s wrtten H * F( Gender SES 4 1 Moth Alve 5 Age 2 Moth SES 6 1 Long Fath Moth Alve 3 2 Educ ) Fath Long 3 Fath (2) We observe, ceters parbus, that educaton sgnfcantly nfluences health status: the hgher the educaton level, the lower the rsk of poor health. In addton, the ntroducton of educaton level modfes prevous results: the effect of the father s SES on descendant s health s removed; t s ndrect and comes from the respondent s educaton level, whch remnds the pathway model. On the contrary, the nfluence of mother s SES on health status n adulthood perssts. Indeed, there s a postve and sgnfcant mpact on health status for ndvduals born to a mother who was offce clerks or shop and market sales workers and a negatve and sgnfcant mpact for ndvduals born to mothers n elementary occupatons. Ths drect mpact confrms the latency hypothess. Ths latter effect can be nterpreted as 18

20 ether beng the nfluence of lvng standards n chldhood or the nfluence of the mother s educaton level on educaton to health. Parents health stll nfluences health status n adulthood; an ndvdual whose parents had a hgher longevty s sgnfcantly n better health. Nevertheless, the ntroducton of educaton reduces both the sgnfcance and the value of odds ratos related to parents health, partcularly those assocated to the mother s longevty. Ths result suggests that educaton could reduce the nfluence of parents health,.e. the transmsson of ntergeneratonal health nequaltes. A hgher educaton level would thus be able to protect health, because of a lower reproducton of poor famly habts or an mproved awareness of health transmtted dffcultes such as genetc screenng. The descendant s socal status, SES s ntroduced n model 3 as follows. H * F ( Gender SES 4 1 Moth Alve 5 Age 2 Moth SES 6 1 Long Fath Moth Alve 3 2 Educ Fath Long 4 3 SES ) Fath (3) As expected, ndvdual s SES sgnfcantly nfluences self-assessed health. Indvduals who are senor managers and professonals, techncans and assocate professonals and armed forces, offce clerks servce workers and sklled agrcultural and fshery workers are more lkely to report a better health status than ndvduals havng elementary occupatons and beng unsklled workers. Results concernng parents SES are smlar to the prevous model. Father s SES does not drectly nfluence descendants health n adulthood whereas havng a mother n elementary occupatons or unsklled workers reduces chances to report a poor health status. The magntude of the mpact of socal background on self-assessed health n adulthood s mportant, partcularly for better health statuses. Fnally, ths model removes the sgnfcant effect of the father s relatve longevty but confrms the effect of the mother s relatve longevty and the father s vtal status on health n adulthood. 19

21 Influence of chldhood crcumstances So far, the estmated models have explaned health status n adulthood, nevertheless, the actual mpact of chldhood crcumstances has not been understood. Frstly, the mpact of crcumstances s absorbed by the ntroducton of current ndvdual socal characterstcs n model 3. Secondly, ther mpact s also not fully descrbed n models 1 and 2 because all the varables mpactng health are not consdered and so, the estmated coeffcents assocated to crcumstances mght be ms-estmated. In ths context, the soluton s the followng. We shall ethcally assume that the share of ndvdual socal characterstcs, namely educaton and socal status, correlated wth socal and famly background are crcumstances as well. Ths assumpton s not the only ethcal poston that could be defended but t s a relevant assumpton. It s clearly the assumpton supported by Roemer (1998) about ndvdual outcomes dependng on crcumstances and effort: effort s orthogonal to crcumstances. Therefore we estmate educaton level and then socal status wthn two separated equatons accordng to the vector of crcumstances. We ntroduce then the estmated resduals of these two equatons nto the thrd equaton explanng health status n adulthood along wth the vector of crcumstances. The coeffcents assocated to crcumstances varables are thus the sum of drect and ndrect effects of crcumstances on health. The scalar product of the crcumstances X represents the mpact of socal and famly background on health status n adulthood. The resdual components do not belong to the vector of crcumstances as they are orthogonal to crcumstances n ths thrd equaton and represent the share of ndvdual socal characterstcs explaned by effort for a gven vector of crcumstances. The model s wrtten as follows. Educ a 4 * SES Sex a 1 Moth a 5 a 2 Alve Age Moth SES a 1 a 6 Fath Long Moth a 2 u Alve a Fath a 3 Long Fath (4.a) 20

22 SES * SES H * b 4 SES Sex b 1 Moth Sex 4 1 Moth Age SES b 5 b 2 Alve Alve Moth b 1 b 6 Age SES 2 5 Moth 1 Fath Long Fath Long 6 Moth b 2 Alve uˆ Alve 2 Moth b 3 Fath u a Fath u a ˆ 3 4 Long b uˆ b 3 Long 3 b u Fath Fath (4.b) (4.c) Equaton (4.a) s estmated usng a bnary probt model for havng a hgher educatonal level because the use of an ordered probt model rejected the test of parallel lnes. Because of the non lnear specfcaton of the model, estmated resduals are not drectly avalable. We then computed generalsed resdual a û, whch corresponds to the condtonal expected value of the resdual gven the exploratory varables (Goureroux et al., 1987). The second reduced equaton (4.b) analyses the propensty of havng a hgher socal status n adulthood * SES wthn a bnary probt model 8. Moreover, the generalsed resdual terms a û and b û represent represents ndvdual effort, luck and unobserved crcumstances respectvely permttng the ndvdual to reach a hgher educaton level consderng chldhood crcumstances or to get a hgher socal status ndependently from chldhood crcumstances and the ndvdual effort gven for educaton. Equaton (4.c) s estmated usng an ordered Logt model. Results are presented n table V. Table V about here The two reduced equatons show that current socoeconomc status, as measured by educaton level and socal status s sgnfcantly nfluenced by chldhood crcumstances. The father s socal status nfluences smlarly educaton level and socal status: ndvduals born to a father, who had a hgher professonal status (.e offce clerks and hgher) have both a hgher probablty to have a hgher educaton and a hgher probablty to have a hgher socal status than those born to an unsklled worker. The mother s socal status also sgnfcantly nfluences the probablty of havng hgher socoeconomc characterstcs. Indvduals born to 8 The use of a bnary varable permts avodng an arbtrary herarchy among socal statuses. 21

23 a senor manager mother have a hgher probablty of havng both a hgher educaton level and a hgher socal status than ndvduals born to a homemaker mother, whereas t s the contrary for ndvduals born to a mother who worked n agrculture: they have lower probablty of both hgh educaton and hgh socal status than homemakers descendants. Moreover, ndvduals born to offce clerks mothers are also more lkely to have a hgher socal status than ndvduals born to homemaker mothers. Consderng the probablty of havng a hgher educaton level, ndvduals born to a mother n elementary occupatons are more lkely to be socally dsadvantaged than ndvduals born to homemakers mothers. Mothers longevty as well as vtal status sgnfcantly ncreases the probablty of havng both hgher educaton and hgher socal status. As for father s health, educaton s postvely and sgnfcantly nfluenced by the relatve longevty whereas the probablty of hgher socal status sgnfcantly ncreases wth the father s vtal status. Furthermore, the ndvdual effort to get a hgher educaton level as measured by the generalsed resdual of equaton (4.a) sgnfcantly and postvely nfluences the probablty of havng a hgher socal status. Fnally, the odds ratos of the thrd estmaton reported n table V show that health status n adulthood s sgnfcantly nfluenced by chldhood crcumstances. Indvduals born to a father who was n hgher socal categores (senor managers, techncans and assocate professonal and offce clerks) are more lkely to have a good health status than ndvduals born to a father who had an elementary occupaton. As for the mother s socal status, descendants from offce clerks are more lkely to be n good health than homemakers descendants whereas descendants from unsklled workers mothers are less lkely to be n good health. Both the relatve longevty and the vtal status of the father sgnfcantly nfluence the probablty of havng a good health. The relatve longevty of the deceased mother has also a sgnfcant effect on health n adulthood. Another nnovatve result of ths estmaton yelds n the sgnfcant and postve mpact of the two resduals terms. Indvdual efforts and luck for a 22

24 hgher educaton as well as ndvdual efforts and luck n socal status ncrease the probablty of havng a good health status n adulthood. It s relevant to assume that ndvduals dong efforts for socoeconomc status are also dong efforts n health. Moreover, we notce that the odds rato assocated to efforts and luck n educaton s hgher than the one of efforts and luck n socal status. Indeed educaton for health s a component of a better health status. From ths last equaton, we can quantfy the mpact of chldhood crcumstances on the level of nequalty n health. Magntude of the mpact of crcumstances on nequaltes of opportunty n health We argue that the mpact of crcumstances on the dstrbuton of health n adulthood can be meanngfully assessed only by comparng the dstrbuton of the predcted probablty of havng a good or a very good self assessed health status wth a reference dstrbuton. The reference dstrbuton we use s the counterfactual dstrbuton of the predcted probablty of havng a good or a very good self assessed health status for the best crcumstances for the ndvduals. To compare the level of nequaltes of the both dstrbuton we assess the Gn coeffcent. The dstrbuton of health among descendants exhbts a Gn coeffcent equal to 15.5 ponts. Ths value s compared to 5 other measures levellng crcumstances for the whole sample. If the whole sample had been fortunate enough to grow up wth the best crcumstances, from the estmaton of equaton (4.c) t s havng both parents alve, a senor manager father and an offce clerk mother, then the Gn coeffcent decreases of almost 60% and equals only 6.5 ponts (cf table VI). We fnd thus that chldhood crcumstances ncrease nequalty n health n the sense that nequalty would have been lower f crcumstances were the same for any ndvdual. The other counterfactual hypotheses am to accurately show whch ntal condtons matter the most among parents health or socal background. If we concentrate on the effect of father s characterstcs as compared to mother s characterstcs, the Gn coeffcent reduces by 6 ponts when the best father s crcumstances are allocated 23

25 whereas t reduces by 4 ponts for the mother s crcumstances. Therefore, the level of nequalty n health reduces more when ndvduals have the best crcumstances n father s characterstcs than when they have the best crcumstances n mother s characterstcs. Moreover wthn the transmsson of health nequaltes, socoeconomc ssues seem to be more mportant than health ssues for descendants. If all the parents were alve then the reducton of the Gn coeffcent would equal 4.5 ponts, whereas f all the descendants were born of the best socal background then the reducton would be of 6 ponts. Therefore, the level of nequalty n health s more nfluenced by socal crcumstances than crcumstances of health n chldhood. 6. Dscusson Ths analyss shows nequaltes of opportunty n health for older adults accordng to socal background and parents longevty. These results are obtaned usng two complementary approaches. The non-parametrc one gves very robust results n terms of stochastc domnance at frst-order whereas the parametrc approach confrms and refnes results by reasonng ceters parbus. Frst of all, the mother s SES s found to have a drect effect on health status of descendants n older ages, whch s coherent wth the latency hypothess. Father s SES only has an ndrect effect through the descendant s educaton level and socoeconomc status n accordance wth the pathways hypothess. Moreover, the hypothess of health transmsson from one generaton to the next s shown as there s a drect effect of the father s relatve longevty on the health of descendants n adulthood. On the contrary, there s no more effect of the mother s relatve longevty when ndvdual s educaton level s ntroduced. As socoeconomc statuses are coded wth ISCO classfcaton relyng on ndvduals ablty to carry out the tasks and dutes of the occupatons, the absence of the drect effect of mother s 24

26 relatve longevty on health n adulthood could be explaned as the mpact of lvng standards n chldhood or the mpact of mother s educaton level. As a consequence, three channels through whch famly background can nfluence health n adulthood are nvolved n the explanaton of nequaltes of opportunty n health n France. Moreover, the counterfactual analyss permts nterpretng the effect of dfferences n crcumstances on nequalty n health. It shows that chldhood crcumstances ncrease nequalty n health n the sense that nequalty would have been more twce lower f crcumstances were the same for any ndvdual. Furthermore, crcumstances n socal aspects and crcumstances n father s characterstcs are found to have a hgher mpact on the level of nequalty n health. Ths result advocates the need to neutralze the effect of crcumstances. The use of SAH to measure the respondent's health could be crtcsed as ths varable may suffer from ndvdual reportng heterogenety. Nevertheless, our study sample concerns older ndvduals and they are less lkely to msreport ther health status, especally after retrement (Bryant et al., 2000). Data do not permt dsentanglng whether transmsson of health s due to genetc nhertance or copyng parental behavours. Ths queston s yet of mportance n an analyss of nequaltes of opportunty snce from an ethcal pont of vew, nequaltes due to genes wll not be equvalent to nequaltes n socal background (Lefranc et al., 2004). In partcular, publc polces of correcton n each context would be very dfferent too. Furthermore, the effect of parents health could also be explaned by a common famly characterstc nfluencng the health status of all the members n the famly. For example, a smlar exposure to ether a rsky geographcal envronment (radoactve, envronmental polluton) or a smlar santary rsk or a socally dsadvantaged context would suggest smlar health statuses wthn a famly. The paper offers thus varous extensons for emprcal work at natonal and European levels. 25

27 7. References Ahlburg D. Intergeneratonal transmsson of health. Amercan Economc Revew 1998; 88: Arneson, RJ. Equalty and equal opportunty of welfare. Phlosophcal Studes 1989; 56: Barker, DJP., Fetal orgns of coronary heart dsease. Brtan Medcne Journal 1996; 311: Blane D, Netuvel G, Stone J. The development of lfe course epdemology, Revue d'epdémologe et de Santé Publque, 2007; 55 : Bourgugnon F, Ferrera FHG, Menendez M. Inequalty of Opportunty n Brasl. Revew of Income and Wealth 2007; 53, 4. Bryant LL, Beck A, Farclough DL. Factors that contrbute to postve perceved health n older populaton. Journal of Ageng and Health 2000; 12: Case A, Fertg A, Paxson C. The lastng mpact of chldhood health and crcumstance. Journal of Health Economcs 2005; 24: Case A, Lubotsky D, Paxson C. Economc status and health n chldhood: the orgns of the gradent. Amercan Economc Revew 2002; 92: Clark A, Vcard A, Condtons de collecte et santé auto-déclarée : analyse sur données européennes. Econome et statstque 2007 ; : Curre A, Shelds MA, Wheatley Prce S. The chld health/famly ncome gradent: Evdence from England, Journal of Health Economcs 2007, 26: Curre J, Stable M. Socoeconomc status and chld health: why s the relatonshp stronger for older chldren, Amercan Economc Revew 2003; 93: Cournl A, Krkwood TBL. If you would lve long, choose your parents well. TRENDS n Genetcs 2001; 17: Daguet F, Un sècle de fécondté françase, caractérstques et évoluton de la fécondté de 1901 à Insee Résultats Socété 2002 [8]. Deaton A. Health, Inequalty, and Economc Development, Journal of Economc Lterature 2003; 41 (1): Amercan Economc Assocaton. DeSalvo K, Fan VS, McDonnell MB, Fhn SD. Predctng mortalty and healthcare utlzaton wth a sngle queston. Health Servces Research 2005; 40: Das PR, Jones A. Gvng equalty of opportunty a far nnngs. Health Economcs, 2007; 16: Dworkn A. What s equalty? Part I: Equalty of Welfare. Phlosophy and Publc Affars 1981; 10: Elas P. La classfcaton des professons (CITP-88): Concepts, méthodes, fablté, valdté et comparablté nternatonale. Edtons OCDE Elstad JI. Chldhood adverstes and health varatons among mddle-aged men: a retrospectve lfe course study. European Journal of Publc Health 2005; 15: Ferrera F, Ggnoux J. The Measurement of Inequalty of Opportunty: Theory and an applcaton to Latn Amerca. The World Bank; Polcy Research Workng Paper 4659, Goureroux C, Monfort A, Renault E, Trognon A. Generalsed resduals, Journal of Econometrcs 1987, 34(1-2): Grossman M. The demand for health: a theoretcal and emprcal nvestgaton. 1972; New York. Hertzman C, Power C, Matthews S, Manor O. Usng an nteractve framework of socety and lfecourse to explan self-rated health n early adulthood. Socal Scence and Medcne 2001; 53: Hyde M, Jakub H, Melchor M, van Oort F, Weyers S. Comparson of the effects of low chldhood socoeconomc poston and low adulthood socoeconomc poston on self-rated health n four European countres. Journal of Epdemology and Communty Health 2006; 60: pp. Idler EL, Benyamn Y. Self-rated health and mortalty: a revew of twenty-seven communty studes. Journal of Health and Socal Behavour 1997; 38:

Can Auto Liability Insurance Purchases Signal Risk Attitude?

Can Auto Liability Insurance Purchases Signal Risk Attitude? Internatonal Journal of Busness and Economcs, 2011, Vol. 10, No. 2, 159-164 Can Auto Lablty Insurance Purchases Sgnal Rsk Atttude? Chu-Shu L Department of Internatonal Busness, Asa Unversty, Tawan Sheng-Chang

More information

benefit is 2, paid if the policyholder dies within the year, and probability of death within the year is ).

benefit is 2, paid if the policyholder dies within the year, and probability of death within the year is ). REVIEW OF RISK MANAGEMENT CONCEPTS LOSS DISTRIBUTIONS AND INSURANCE Loss and nsurance: When someone s subject to the rsk of ncurrng a fnancal loss, the loss s generally modeled usng a random varable or

More information

Study on CET4 Marks in China s Graded English Teaching

Study on CET4 Marks in China s Graded English Teaching Study on CET4 Marks n Chna s Graded Englsh Teachng CHE We College of Foregn Studes, Shandong Insttute of Busness and Technology, P.R.Chna, 264005 Abstract: Ths paper deploys Logt model, and decomposes

More information

HOUSEHOLDS DEBT BURDEN: AN ANALYSIS BASED ON MICROECONOMIC DATA*

HOUSEHOLDS DEBT BURDEN: AN ANALYSIS BASED ON MICROECONOMIC DATA* HOUSEHOLDS DEBT BURDEN: AN ANALYSIS BASED ON MICROECONOMIC DATA* Luísa Farnha** 1. INTRODUCTION The rapd growth n Portuguese households ndebtedness n the past few years ncreased the concerns that debt

More information

An Alternative Way to Measure Private Equity Performance

An Alternative Way to Measure Private Equity Performance An Alternatve Way to Measure Prvate Equty Performance Peter Todd Parlux Investment Technology LLC Summary Internal Rate of Return (IRR) s probably the most common way to measure the performance of prvate

More information

Inequality and The Accounting Period. Quentin Wodon and Shlomo Yitzhaki. World Bank and Hebrew University. September 2001.

Inequality and The Accounting Period. Quentin Wodon and Shlomo Yitzhaki. World Bank and Hebrew University. September 2001. Inequalty and The Accountng Perod Quentn Wodon and Shlomo Ytzha World Ban and Hebrew Unversty September Abstract Income nequalty typcally declnes wth the length of tme taen nto account for measurement.

More information

Gender differences in revealed risk taking: evidence from mutual fund investors

Gender differences in revealed risk taking: evidence from mutual fund investors Economcs Letters 76 (2002) 151 158 www.elsever.com/ locate/ econbase Gender dfferences n revealed rsk takng: evdence from mutual fund nvestors a b c, * Peggy D. Dwyer, James H. Glkeson, John A. Lst a Unversty

More information

PRIVATE SCHOOL CHOICE: THE EFFECTS OF RELIGIOUS AFFILIATION AND PARTICIPATION

PRIVATE SCHOOL CHOICE: THE EFFECTS OF RELIGIOUS AFFILIATION AND PARTICIPATION PRIVATE SCHOOL CHOICE: THE EFFECTS OF RELIIOUS AFFILIATION AND PARTICIPATION Danny Cohen-Zada Department of Economcs, Ben-uron Unversty, Beer-Sheva 84105, Israel Wllam Sander Department of Economcs, DePaul

More information

Statistical Methods to Develop Rating Models

Statistical Methods to Develop Rating Models Statstcal Methods to Develop Ratng Models [Evelyn Hayden and Danel Porath, Österrechsche Natonalbank and Unversty of Appled Scences at Manz] Source: The Basel II Rsk Parameters Estmaton, Valdaton, and

More information

Social capital and Health status: a protective impact among elderly or inactive but not among active?

Social capital and Health status: a protective impact among elderly or inactive but not among active? Socal captal and Health status: a protectve mpact among elderly or nactve but not among actve? Carolne Berchet, Florence Jusot Unversté Pars Dauphne 1. Introducton: The recent report of the World Health

More information

PSYCHOLOGICAL RESEARCH (PYC 304-C) Lecture 12

PSYCHOLOGICAL RESEARCH (PYC 304-C) Lecture 12 14 The Ch-squared dstrbuton PSYCHOLOGICAL RESEARCH (PYC 304-C) Lecture 1 If a normal varable X, havng mean µ and varance σ, s standardsed, the new varable Z has a mean 0 and varance 1. When ths standardsed

More information

! # %& ( ) +,../ 0 1 2 3 4 0 4 # 5##&.6 7% 8 # 0 4 2 #...

! # %& ( ) +,../ 0 1 2 3 4 0 4 # 5##&.6 7% 8 # 0 4 2 #... ! # %& ( ) +,../ 0 1 2 3 4 0 4 # 5##&.6 7% 8 # 0 4 2 #... 9 Sheffeld Economc Research Paper Seres SERP Number: 2011010 ISSN 1749-8368 Sarah Brown, Aurora Ortz-Núñez and Karl Taylor Educatonal loans and

More information

Income-Related Health Inequalities in France between 1998 and 2002: Comparing Trends with Alternative Health Indicators

Income-Related Health Inequalities in France between 1998 and 2002: Comparing Trends with Alternative Health Indicators Income-Related Health Inequaltes n France between 1998 and 2002: Comparng Trends wth Alternatve Health Indcators by Florence Jusot a, Lse Rochax a,b and Sandy Tubeuf* a,b Sept 2005 Work n progress * Correspondng

More information

What is Candidate Sampling

What is Candidate Sampling What s Canddate Samplng Say we have a multclass or mult label problem where each tranng example ( x, T ) conssts of a context x a small (mult)set of target classes T out of a large unverse L of possble

More information

DEFINING %COMPLETE IN MICROSOFT PROJECT

DEFINING %COMPLETE IN MICROSOFT PROJECT CelersSystems DEFINING %COMPLETE IN MICROSOFT PROJECT PREPARED BY James E Aksel, PMP, PMI-SP, MVP For Addtonal Informaton about Earned Value Management Systems and reportng, please contact: CelersSystems,

More information

The OC Curve of Attribute Acceptance Plans

The OC Curve of Attribute Acceptance Plans The OC Curve of Attrbute Acceptance Plans The Operatng Characterstc (OC) curve descrbes the probablty of acceptng a lot as a functon of the lot s qualty. Fgure 1 shows a typcal OC Curve. 10 8 6 4 1 3 4

More information

The Development of Web Log Mining Based on Improve-K-Means Clustering Analysis

The Development of Web Log Mining Based on Improve-K-Means Clustering Analysis The Development of Web Log Mnng Based on Improve-K-Means Clusterng Analyss TngZhong Wang * College of Informaton Technology, Luoyang Normal Unversty, Luoyang, 471022, Chna wangtngzhong2@sna.cn Abstract.

More information

Culture and the Family: An Application to Educational Choices in Italy

Culture and the Family: An Application to Educational Choices in Italy Culture and the Famly: An Applcaton to Educatonal Choces n Italy Saggo ad Invto per la Rvsta d Poltca Economca July 2009 Paola Gulano UCLA, NBER, and IZA Abstract In ths essay we revew the assocaton between

More information

1. Measuring association using correlation and regression

1. Measuring association using correlation and regression How to measure assocaton I: Correlaton. 1. Measurng assocaton usng correlaton and regresson We often would lke to know how one varable, such as a mother's weght, s related to another varable, such as a

More information

CHAPTER 14 MORE ABOUT REGRESSION

CHAPTER 14 MORE ABOUT REGRESSION CHAPTER 14 MORE ABOUT REGRESSION We learned n Chapter 5 that often a straght lne descrbes the pattern of a relatonshp between two quanttatve varables. For nstance, n Example 5.1 we explored the relatonshp

More information

Recurrence. 1 Definitions and main statements

Recurrence. 1 Definitions and main statements Recurrence 1 Defntons and man statements Let X n, n = 0, 1, 2,... be a MC wth the state space S = (1, 2,...), transton probabltes p j = P {X n+1 = j X n = }, and the transton matrx P = (p j ),j S def.

More information

Heterogeneous Paths Through College: Detailed Patterns and Relationships with Graduation and Earnings

Heterogeneous Paths Through College: Detailed Patterns and Relationships with Graduation and Earnings Heterogeneous Paths Through College: Detaled Patterns and Relatonshps wth Graduaton and Earnngs Rodney J. Andrews The Unversty of Texas at Dallas and the Texas Schools Project Jng L The Unversty of Tulsa

More information

Returns to Experience in Mozambique: A Nonparametric Regression Approach

Returns to Experience in Mozambique: A Nonparametric Regression Approach Returns to Experence n Mozambque: A Nonparametrc Regresson Approach Joel Muzma Conference Paper nº 27 Conferênca Inaugural do IESE Desafos para a nvestgação socal e económca em Moçambque 19 de Setembro

More information

Marginal Returns to Education For Teachers

Marginal Returns to Education For Teachers The Onlne Journal of New Horzons n Educaton Volume 4, Issue 3 MargnalReturnstoEducatonForTeachers RamleeIsmal,MarnahAwang ABSTRACT FacultyofManagementand Economcs UnverstPenddkanSultan Idrs ramlee@fpe.ups.edu.my

More information

Start me up: The Effectiveness of a Self-Employment Programme for Needy Unemployed People in Germany*

Start me up: The Effectiveness of a Self-Employment Programme for Needy Unemployed People in Germany* Start me up: The Effectveness of a Self-Employment Programme for Needy Unemployed People n Germany* Joachm Wolff Anton Nvorozhkn Date: 22/10/2008 Abstract In recent years actvaton of means-tested unemployment

More information

Analysis of Premium Liabilities for Australian Lines of Business

Analysis of Premium Liabilities for Australian Lines of Business Summary of Analyss of Premum Labltes for Australan Lnes of Busness Emly Tao Honours Research Paper, The Unversty of Melbourne Emly Tao Acknowledgements I am grateful to the Australan Prudental Regulaton

More information

A Novel Methodology of Working Capital Management for Large. Public Constructions by Using Fuzzy S-curve Regression

A Novel Methodology of Working Capital Management for Large. Public Constructions by Using Fuzzy S-curve Regression Novel Methodology of Workng Captal Management for Large Publc Constructons by Usng Fuzzy S-curve Regresson Cheng-Wu Chen, Morrs H. L. Wang and Tng-Ya Hseh Department of Cvl Engneerng, Natonal Central Unversty,

More information

Wage inequality and returns to schooling in Europe: a semi-parametric approach using EU-SILC data

Wage inequality and returns to schooling in Europe: a semi-parametric approach using EU-SILC data MPRA Munch Personal RePEc Archve Wage nequalty and returns to schoolng n Europe: a sem-parametrc approach usng EU-SILC data Marco Bagett and Sergo Sccchtano Unversty La Sapenza Rome, Mnstry of Economc

More information

Is There A Tradeoff between Employer-Provided Health Insurance and Wages?

Is There A Tradeoff between Employer-Provided Health Insurance and Wages? Is There A Tradeoff between Employer-Provded Health Insurance and Wages? Lye Zhu, Southern Methodst Unversty October 2005 Abstract Though most of the lterature n health nsurance and the labor market assumes

More information

Education and Family Income

Education and Family Income Prelmnary: Comments Welcome Educaton and Famly Income Jo Blanden*, Paul Gregg** and Stephen Machn* May 2002 * Department of Economcs, Unversty College London and Centre for Economc Performance, London

More information

x f(x) 1 0.25 1 0.75 x 1 0 1 1 0.04 0.01 0.20 1 0.12 0.03 0.60

x f(x) 1 0.25 1 0.75 x 1 0 1 1 0.04 0.01 0.20 1 0.12 0.03 0.60 BIVARIATE DISTRIBUTIONS Let be a varable that assumes the values { 1,,..., n }. Then, a functon that epresses the relatve frequenc of these values s called a unvarate frequenc functon. It must be true

More information

Institute of Informatics, Faculty of Business and Management, Brno University of Technology,Czech Republic

Institute of Informatics, Faculty of Business and Management, Brno University of Technology,Czech Republic Lagrange Multplers as Quanttatve Indcators n Economcs Ivan Mezník Insttute of Informatcs, Faculty of Busness and Management, Brno Unversty of TechnologCzech Republc Abstract The quanttatve role of Lagrange

More information

Staff Paper. Farm Savings Accounts: Examining Income Variability, Eligibility, and Benefits. Brent Gloy, Eddy LaDue, and Charles Cuykendall

Staff Paper. Farm Savings Accounts: Examining Income Variability, Eligibility, and Benefits. Brent Gloy, Eddy LaDue, and Charles Cuykendall SP 2005-02 August 2005 Staff Paper Department of Appled Economcs and Management Cornell Unversty, Ithaca, New York 14853-7801 USA Farm Savngs Accounts: Examnng Income Varablty, Elgblty, and Benefts Brent

More information

LIFETIME INCOME OPTIONS

LIFETIME INCOME OPTIONS LIFETIME INCOME OPTIONS May 2011 by: Marca S. Wagner, Esq. The Wagner Law Group A Professonal Corporaton 99 Summer Street, 13 th Floor Boston, MA 02110 Tel: (617) 357-5200 Fax: (617) 357-5250 www.ersa-lawyers.com

More information

Latent Class Regression. Statistics for Psychosocial Research II: Structural Models December 4 and 6, 2006

Latent Class Regression. Statistics for Psychosocial Research II: Structural Models December 4 and 6, 2006 Latent Class Regresson Statstcs for Psychosocal Research II: Structural Models December 4 and 6, 2006 Latent Class Regresson (LCR) What s t and when do we use t? Recall the standard latent class model

More information

Transition Matrix Models of Consumer Credit Ratings

Transition Matrix Models of Consumer Credit Ratings Transton Matrx Models of Consumer Credt Ratngs Abstract Although the corporate credt rsk lterature has many studes modellng the change n the credt rsk of corporate bonds over tme, there s far less analyss

More information

The influence of supplementary health insurance on switching behaviour: evidence on Swiss data

The influence of supplementary health insurance on switching behaviour: evidence on Swiss data Workng Paper n 07-02 The nfluence of supplementary health nsurance on swtchng behavour: evdence on Swss data Brgtte Dormont, Perre- Yves Geoffard, Karne Lamraud The nfluence of supplementary health nsurance

More information

To manage leave, meeting institutional requirements and treating individual staff members fairly and consistently.

To manage leave, meeting institutional requirements and treating individual staff members fairly and consistently. Corporate Polces & Procedures Human Resources - Document CPP216 Leave Management Frst Produced: Current Verson: Past Revsons: Revew Cycle: Apples From: 09/09/09 26/10/12 09/09/09 3 years Immedately Authorsaton:

More information

Causal, Explanatory Forecasting. Analysis. Regression Analysis. Simple Linear Regression. Which is Independent? Forecasting

Causal, Explanatory Forecasting. Analysis. Regression Analysis. Simple Linear Regression. Which is Independent? Forecasting Causal, Explanatory Forecastng Assumes cause-and-effect relatonshp between system nputs and ts output Forecastng wth Regresson Analyss Rchard S. Barr Inputs System Cause + Effect Relatonshp The job of

More information

Physical activity patterns of European 50+ populations

Physical activity patterns of European 50+ populations Orgnal Paper. Advances n Rehabltaton 3, 6 13, 2010 DOI 10.2478/v10029-010-0002-7 Physcal actvty patterns of European 50+ populatons Mchał Myck German Insttute for Economc Research, Berln, Centre for Economc

More information

The Application of Fractional Brownian Motion in Option Pricing

The Application of Fractional Brownian Motion in Option Pricing Vol. 0, No. (05), pp. 73-8 http://dx.do.org/0.457/jmue.05.0..6 The Applcaton of Fractonal Brownan Moton n Opton Prcng Qng-xn Zhou School of Basc Scence,arbn Unversty of Commerce,arbn zhouqngxn98@6.com

More information

ADVERSE SELECTION IN INSURANCE MARKETS: POLICYHOLDER EVIDENCE FROM THE U.K. ANNUITY MARKET *

ADVERSE SELECTION IN INSURANCE MARKETS: POLICYHOLDER EVIDENCE FROM THE U.K. ANNUITY MARKET * ADVERSE SELECTION IN INSURANCE MARKETS: POLICYHOLDER EVIDENCE FROM THE U.K. ANNUITY MARKET * Amy Fnkelsten Harvard Unversty and NBER James Poterba MIT and NBER * We are grateful to Jeffrey Brown, Perre-Andre

More information

Military Conscription and University Enrolment: Evidence from Italy

Military Conscription and University Enrolment: Evidence from Italy DISCUSSION PAPER SERIES IZA DP No. 4212 Mltary Conscrpton and Unversty Enrolment: Evdence from Italy Gorgo D Petro June 2009 Forschungsnsttut zur Zukunft der Arbet Insttute for the Study of Labor Mltary

More information

Marginal Benefit Incidence Analysis Using a Single Cross-section of Data. Mohamed Ihsan Ajwad and Quentin Wodon 1. World Bank.

Marginal Benefit Incidence Analysis Using a Single Cross-section of Data. Mohamed Ihsan Ajwad and Quentin Wodon 1. World Bank. Margnal Beneft Incdence Analyss Usng a Sngle Cross-secton of Data Mohamed Ihsan Ajwad and uentn Wodon World Bank August 200 Abstract In a recent paper, Lanjouw and Ravallon proposed an attractve and smple

More information

Searching and Switching: Empirical estimates of consumer behaviour in regulated markets

Searching and Switching: Empirical estimates of consumer behaviour in regulated markets Searchng and Swtchng: Emprcal estmates of consumer behavour n regulated markets Catherne Waddams Prce Centre for Competton Polcy, Unversty of East Angla Catherne Webster Centre for Competton Polcy, Unversty

More information

Classification errors and permanent disability benefits in Spain

Classification errors and permanent disability benefits in Spain 1 Classfcaton errors and permanent dsablty benefts n Span Serg Jménez-Martín José M. Labeaga Crstna Vlaplana Preto 1. Introducton There s a controverted debate about the effects of permanent dsablty benefts

More information

Covariate-based pricing of automobile insurance

Covariate-based pricing of automobile insurance Insurance Markets and Companes: Analyses and Actuaral Computatons, Volume 1, Issue 2, 2010 José Antono Ordaz (Span), María del Carmen Melgar (Span) Covarate-based prcng of automoble nsurance Abstract Ths

More information

Number of Levels Cumulative Annual operating Income per year construction costs costs ($) ($) ($) 1 600,000 35,000 100,000 2 2,200,000 60,000 350,000

Number of Levels Cumulative Annual operating Income per year construction costs costs ($) ($) ($) 1 600,000 35,000 100,000 2 2,200,000 60,000 350,000 Problem Set 5 Solutons 1 MIT s consderng buldng a new car park near Kendall Square. o unversty funds are avalable (overhead rates are under pressure and the new faclty would have to pay for tself from

More information

Module 2 LOSSLESS IMAGE COMPRESSION SYSTEMS. Version 2 ECE IIT, Kharagpur

Module 2 LOSSLESS IMAGE COMPRESSION SYSTEMS. Version 2 ECE IIT, Kharagpur Module LOSSLESS IMAGE COMPRESSION SYSTEMS Lesson 3 Lossless Compresson: Huffman Codng Instructonal Objectves At the end of ths lesson, the students should be able to:. Defne and measure source entropy..

More information

Management Quality, Financial and Investment Policies, and. Asymmetric Information

Management Quality, Financial and Investment Policies, and. Asymmetric Information Management Qualty, Fnancal and Investment Polces, and Asymmetrc Informaton Thomas J. Chemmanur * Imants Paegls ** and Karen Smonyan *** Current verson: December 2007 * Professor of Fnance, Carroll School

More information

The demand for private health care in the UK

The demand for private health care in the UK Journal of Health Economcs 19 2000 855 876 www.elsever.nlrlocatereconbase The demand for prvate health care n the UK Carol Propper ) Department of Economcs, CASE and CEPR, UnÕersty of Brstol, Brstol BS8

More information

The covariance is the two variable analog to the variance. The formula for the covariance between two variables is

The covariance is the two variable analog to the variance. The formula for the covariance between two variables is Regresson Lectures So far we have talked only about statstcs that descrbe one varable. What we are gong to be dscussng for much of the remander of the course s relatonshps between two or more varables.

More information

Does Higher Education Enhance Migration?

Does Higher Education Enhance Migration? DISCUSSION PAPER SERIES IZA DP No. 7754 Does Hgher Educaton Enhance Mgraton? Mka Haapanen Petr Böckerman November 2013 Forschungsnsttut zur Zukunft der Arbet Insttute for the Study of Labor Does Hgher

More information

TESTING FOR EVIDENCE OF ADVERSE SELECTION IN DEVELOPING AUTOMOBILE INSURANCE MARKET. Oksana Lyashuk

TESTING FOR EVIDENCE OF ADVERSE SELECTION IN DEVELOPING AUTOMOBILE INSURANCE MARKET. Oksana Lyashuk TESTING FOR EVIDENCE OF ADVERSE SELECTION IN DEVELOPING AUTOMOBILE INSURANCE MARKET by Oksana Lyashuk A thess submtted n partal fulfllment of the requrements for the degree of Master of Arts n Economcs

More information

A household-based Human Development Index. Kenneth Harttgen and Stephan Klasen Göttingen University, Germany

A household-based Human Development Index. Kenneth Harttgen and Stephan Klasen Göttingen University, Germany A household-based Human Development Index Kenneth Harttgen and Stephan Klasen Göttngen Unversty, Germany Introducton Motvaton HDI tres to operatonalze capablty approach at cross-natonal level. HDI measures

More information

Risk-based Fatigue Estimate of Deep Water Risers -- Course Project for EM388F: Fracture Mechanics, Spring 2008

Risk-based Fatigue Estimate of Deep Water Risers -- Course Project for EM388F: Fracture Mechanics, Spring 2008 Rsk-based Fatgue Estmate of Deep Water Rsers -- Course Project for EM388F: Fracture Mechancs, Sprng 2008 Chen Sh Department of Cvl, Archtectural, and Envronmental Engneerng The Unversty of Texas at Austn

More information

Statistical algorithms in Review Manager 5

Statistical algorithms in Review Manager 5 Statstcal algorthms n Reve Manager 5 Jonathan J Deeks and Julan PT Hggns on behalf of the Statstcal Methods Group of The Cochrane Collaboraton August 00 Data structure Consder a meta-analyss of k studes

More information

Management Quality and Equity Issue Characteristics: A Comparison of SEOs and IPOs

Management Quality and Equity Issue Characteristics: A Comparison of SEOs and IPOs Management Qualty and Equty Issue Characterstcs: A Comparson of SEOs and IPOs Thomas J. Chemmanur * Imants Paegls ** and Karen Smonyan *** Current verson: November 2009 (Accepted, Fnancal Management, February

More information

THE DETERMINANTS OF THE TUNISIAN BANKING INDUSTRY PROFITABILITY: PANEL EVIDENCE

THE DETERMINANTS OF THE TUNISIAN BANKING INDUSTRY PROFITABILITY: PANEL EVIDENCE THE DETERMINANTS OF THE TUNISIAN BANKING INDUSTRY PROFITABILITY: PANEL EVIDENCE Samy Ben Naceur ERF Research Fellow Department of Fnance Unversté Lbre de Tuns Avenue Khéreddne Pacha, 002 Tuns Emal : sbennaceur@eudoramal.com

More information

Using Series to Analyze Financial Situations: Present Value

Using Series to Analyze Financial Situations: Present Value 2.8 Usng Seres to Analyze Fnancal Stuatons: Present Value In the prevous secton, you learned how to calculate the amount, or future value, of an ordnary smple annuty. The amount s the sum of the accumulated

More information

IDENTIFICATION AND CORRECTION OF A COMMON ERROR IN GENERAL ANNUITY CALCULATIONS

IDENTIFICATION AND CORRECTION OF A COMMON ERROR IN GENERAL ANNUITY CALCULATIONS IDENTIFICATION AND CORRECTION OF A COMMON ERROR IN GENERAL ANNUITY CALCULATIONS Chrs Deeley* Last revsed: September 22, 200 * Chrs Deeley s a Senor Lecturer n the School of Accountng, Charles Sturt Unversty,

More information

1.1 The University may award Higher Doctorate degrees as specified from time-to-time in UPR AS11 1.

1.1 The University may award Higher Doctorate degrees as specified from time-to-time in UPR AS11 1. HIGHER DOCTORATE DEGREES SUMMARY OF PRINCIPAL CHANGES General changes None Secton 3.2 Refer to text (Amendments to verson 03.0, UPR AS02 are shown n talcs.) 1 INTRODUCTION 1.1 The Unversty may award Hgher

More information

An Evaluation of the Extended Logistic, Simple Logistic, and Gompertz Models for Forecasting Short Lifecycle Products and Services

An Evaluation of the Extended Logistic, Simple Logistic, and Gompertz Models for Forecasting Short Lifecycle Products and Services An Evaluaton of the Extended Logstc, Smple Logstc, and Gompertz Models for Forecastng Short Lfecycle Products and Servces Charles V. Trappey a,1, Hsn-yng Wu b a Professor (Management Scence), Natonal Chao

More information

Forecasting the Direction and Strength of Stock Market Movement

Forecasting the Direction and Strength of Stock Market Movement Forecastng the Drecton and Strength of Stock Market Movement Jngwe Chen Mng Chen Nan Ye cjngwe@stanford.edu mchen5@stanford.edu nanye@stanford.edu Abstract - Stock market s one of the most complcated systems

More information

Financial Instability and Life Insurance Demand + Mahito Okura *

Financial Instability and Life Insurance Demand + Mahito Okura * Fnancal Instablty and Lfe Insurance Demand + Mahto Okura * Norhro Kasuga ** Abstract Ths paper estmates prvate lfe nsurance and Kampo demand functons usng household-level data provded by the Postal Servces

More information

Cahiers de la Chaire Santé

Cahiers de la Chaire Santé Cahers de la Chare Santé The nfluence of supplementary health nsurance on swtchng behavour: evdence from Swss data Auteurs : Brgtte Dormont, Perre-Yves Geoffard, Karne Lamraud N 4 - Janver 2010 1 The nfluence

More information

Scale Dependence of Overconfidence in Stock Market Volatility Forecasts

Scale Dependence of Overconfidence in Stock Market Volatility Forecasts Scale Dependence of Overconfdence n Stoc Maret Volatlty Forecasts Marus Glaser, Thomas Langer, Jens Reynders, Martn Weber* June 7, 007 Abstract In ths study, we analyze whether volatlty forecasts (judgmental

More information

CHAPTER 5 RELATIONSHIPS BETWEEN QUANTITATIVE VARIABLES

CHAPTER 5 RELATIONSHIPS BETWEEN QUANTITATIVE VARIABLES CHAPTER 5 RELATIONSHIPS BETWEEN QUANTITATIVE VARIABLES In ths chapter, we wll learn how to descrbe the relatonshp between two quanttatve varables. Remember (from Chapter 2) that the terms quanttatve varable

More information

Chapter 8 Group-based Lending and Adverse Selection: A Study on Risk Behavior and Group Formation 1

Chapter 8 Group-based Lending and Adverse Selection: A Study on Risk Behavior and Group Formation 1 Chapter 8 Group-based Lendng and Adverse Selecton: A Study on Rsk Behavor and Group Formaton 1 8.1 Introducton Ths chapter deals wth group formaton and the adverse selecton problem. In several theoretcal

More information

Binomial Link Functions. Lori Murray, Phil Munz

Binomial Link Functions. Lori Murray, Phil Munz Bnomal Lnk Functons Lor Murray, Phl Munz Bnomal Lnk Functons Logt Lnk functon: ( p) p ln 1 p Probt Lnk functon: ( p) 1 ( p) Complentary Log Log functon: ( p) ln( ln(1 p)) Motvatng Example A researcher

More information

This study examines whether the framing mode (narrow versus broad) influences the stock investment decisions

This study examines whether the framing mode (narrow versus broad) influences the stock investment decisions MANAGEMENT SCIENCE Vol. 54, No. 6, June 2008, pp. 1052 1064 ssn 0025-1909 essn 1526-5501 08 5406 1052 nforms do 10.1287/mnsc.1070.0845 2008 INFORMS How Do Decson Frames Influence the Stock Investment Choces

More information

An Empirical Study of Search Engine Advertising Effectiveness

An Empirical Study of Search Engine Advertising Effectiveness An Emprcal Study of Search Engne Advertsng Effectveness Sanjog Msra, Smon School of Busness Unversty of Rochester Edeal Pnker, Smon School of Busness Unversty of Rochester Alan Rmm-Kaufman, Rmm-Kaufman

More information

ADVERSE SELECTION IN INSURANCE MARKETS: POLICYHOLDER EVIDENCE FROM THE U.K. ANNUITY MARKET

ADVERSE SELECTION IN INSURANCE MARKETS: POLICYHOLDER EVIDENCE FROM THE U.K. ANNUITY MARKET ADVERSE SELECTION IN INSURANCE MARKETS: POLICYHOLDER EVIDENCE FROM THE U.K. ANNUITY MARKET Amy Fnkelsten Harvard Unversty and NBER James Poterba MIT and NBER Revsed May 2003 ABSTRACT In ths paper, we nvestgate

More information

Risk Model of Long-Term Production Scheduling in Open Pit Gold Mining

Risk Model of Long-Term Production Scheduling in Open Pit Gold Mining Rsk Model of Long-Term Producton Schedulng n Open Pt Gold Mnng R Halatchev 1 and P Lever 2 ABSTRACT Open pt gold mnng s an mportant sector of the Australan mnng ndustry. It uses large amounts of nvestments,

More information

High Correlation between Net Promoter Score and the Development of Consumers' Willingness to Pay (Empirical Evidence from European Mobile Markets)

High Correlation between Net Promoter Score and the Development of Consumers' Willingness to Pay (Empirical Evidence from European Mobile Markets) Hgh Correlaton between et Promoter Score and the Development of Consumers' Wllngness to Pay (Emprcal Evdence from European Moble Marets Ths paper shows that the correlaton between the et Promoter Score

More information

Answer: A). There is a flatter IS curve in the high MPC economy. Original LM LM after increase in M. IS curve for low MPC economy

Answer: A). There is a flatter IS curve in the high MPC economy. Original LM LM after increase in M. IS curve for low MPC economy 4.02 Quz Solutons Fall 2004 Multple-Choce Questons (30/00 ponts) Please, crcle the correct answer for each of the followng 0 multple-choce questons. For each queston, only one of the answers s correct.

More information

THE EFFECT OF PREPAYMENT PENALTIES ON THE PRICING OF SUBPRIME MORTGAGES

THE EFFECT OF PREPAYMENT PENALTIES ON THE PRICING OF SUBPRIME MORTGAGES THE EFFECT OF PREPAYMENT PENALTIES ON THE PRICING OF SUBPRIME MORTGAGES Gregory Ellehausen, Fnancal Servces Research Program George Washngton Unversty Mchael E. Staten, Fnancal Servces Research Program

More information

The Analysis of Covariance. ERSH 8310 Keppel and Wickens Chapter 15

The Analysis of Covariance. ERSH 8310 Keppel and Wickens Chapter 15 The Analyss of Covarance ERSH 830 Keppel and Wckens Chapter 5 Today s Class Intal Consderatons Covarance and Lnear Regresson The Lnear Regresson Equaton TheAnalyss of Covarance Assumptons Underlyng the

More information

Diabetes as a Predictor of Mortality in a Cohort of Blind Subjects

Diabetes as a Predictor of Mortality in a Cohort of Blind Subjects Internatonal Journal of Epdemology Internatonal Epdemologcal Assocaton 1996 Vol. 25, No. 5 Prnted n Great Brtan Dabetes as a Predctor of Mortalty n a Cohort of Blnd Subjects CHRISTOPH TRAUTNER,* ANDREA

More information

Job satisfaction among US Ph.D. graduates: the effects of gender and employment sector

Job satisfaction among US Ph.D. graduates: the effects of gender and employment sector Job satsfacton among US Ph.D. graduates: the effects of gender and employment sector Phlppe Moguérou 1 IREDU, CNRS-Unversté de Bourgogne (Djon, France) and SPRU, Unversty of Sussex (Brghton, UK) Frst draft,

More information

Traditional versus Online Courses, Efforts, and Learning Performance

Traditional versus Online Courses, Efforts, and Learning Performance Tradtonal versus Onlne Courses, Efforts, and Learnng Performance Kuang-Cheng Tseng, Department of Internatonal Trade, Chung-Yuan Chrstan Unversty, Tawan Shan-Yng Chu, Department of Internatonal Trade,

More information

Evaluating the Effects of FUNDEF on Wages and Test Scores in Brazil *

Evaluating the Effects of FUNDEF on Wages and Test Scores in Brazil * Evaluatng the Effects of FUNDEF on Wages and Test Scores n Brazl * Naérco Menezes-Flho Elane Pazello Unversty of São Paulo Abstract In ths paper we nvestgate the effects of the 1998 reform n the fundng

More information

Multiple-Period Attribution: Residuals and Compounding

Multiple-Period Attribution: Residuals and Compounding Multple-Perod Attrbuton: Resduals and Compoundng Our revewer gave these authors full marks for dealng wth an ssue that performance measurers and vendors often regard as propretary nformaton. In 1994, Dens

More information

Are Women Better Loan Officers?

Are Women Better Loan Officers? Are Women Better Loan Offcers? Ths verson: February 2009 Thorsten Beck * CentER, Dept. of Economcs, Tlburg Unversty and CEPR Patrck Behr Goethe Unversty Frankfurt André Güttler European Busness School

More information

HEDG Working Paper 08/22

HEDG Working Paper 08/22 HEDG Workng Paper 08/22 A comparson of the health status and health care utlsaton patterns between foregners and the natonal populaton n Span: new evdence from the Spansh Natonal Health Survey C Hernández

More information

Overview of monitoring and evaluation

Overview of monitoring and evaluation 540 Toolkt to Combat Traffckng n Persons Tool 10.1 Overvew of montorng and evaluaton Overvew Ths tool brefly descrbes both montorng and evaluaton, and the dstncton between the two. What s montorng? Montorng

More information

THE DISTRIBUTION OF LOAN PORTFOLIO VALUE * Oldrich Alfons Vasicek

THE DISTRIBUTION OF LOAN PORTFOLIO VALUE * Oldrich Alfons Vasicek HE DISRIBUION OF LOAN PORFOLIO VALUE * Oldrch Alfons Vascek he amount of captal necessary to support a portfolo of debt securtes depends on the probablty dstrbuton of the portfolo loss. Consder a portfolo

More information

SIMPLE LINEAR CORRELATION

SIMPLE LINEAR CORRELATION SIMPLE LINEAR CORRELATION Smple lnear correlaton s a measure of the degree to whch two varables vary together, or a measure of the ntensty of the assocaton between two varables. Correlaton often s abused.

More information

FREQUENCY OF OCCURRENCE OF CERTAIN CHEMICAL CLASSES OF GSR FROM VARIOUS AMMUNITION TYPES

FREQUENCY OF OCCURRENCE OF CERTAIN CHEMICAL CLASSES OF GSR FROM VARIOUS AMMUNITION TYPES FREQUENCY OF OCCURRENCE OF CERTAIN CHEMICAL CLASSES OF GSR FROM VARIOUS AMMUNITION TYPES Zuzanna BRO EK-MUCHA, Grzegorz ZADORA, 2 Insttute of Forensc Research, Cracow, Poland 2 Faculty of Chemstry, Jagellonan

More information

HARVARD John M. Olin Center for Law, Economics, and Business

HARVARD John M. Olin Center for Law, Economics, and Business HARVARD John M. Oln Center for Law, Economcs, and Busness ISSN 1045-6333 ASYMMETRIC INFORMATION AND LEARNING IN THE AUTOMOBILE INSURANCE MARKET Alma Cohen Dscusson Paper No. 371 6/2002 Harvard Law School

More information

Cambodian Child s Wage Rate, Human Capital and Hours Worked Trade-off: Simple Theoretical and Empirical Evidence for Policy Implications

Cambodian Child s Wage Rate, Human Capital and Hours Worked Trade-off: Simple Theoretical and Empirical Evidence for Policy Implications GSIS Workng Paper Seres ambodan hld s Wage Rate, Human aptal and Hours Worked Trade-off: Smple Theoretcal and Emprcal Evdence for Polcy Implcatons Han PHOUMIN Sech FUKUI No. 6 August 2006 Graduate School

More information

Efficient Project Portfolio as a tool for Enterprise Risk Management

Efficient Project Portfolio as a tool for Enterprise Risk Management Effcent Proect Portfolo as a tool for Enterprse Rsk Management Valentn O. Nkonov Ural State Techncal Unversty Growth Traectory Consultng Company January 5, 27 Effcent Proect Portfolo as a tool for Enterprse

More information

Kiel Institute for World Economics Duesternbrooker Weg 120 24105 Kiel (Germany) Kiel Working Paper No. 1120

Kiel Institute for World Economics Duesternbrooker Weg 120 24105 Kiel (Germany) Kiel Working Paper No. 1120 Kel Insttute for World Economcs Duesternbrooker Weg 45 Kel (Germany) Kel Workng Paper No. Path Dependences n enture Captal Markets by Andrea Schertler July The responsblty for the contents of the workng

More information

The Willingness to Pay for Job Amenities: Evidence from Mothers' Return to Work

The Willingness to Pay for Job Amenities: Evidence from Mothers' Return to Work ILRRevew Volume 65 Number 2 Artcle 10 2012 The Wllngness to Pay for Job Amentes: Evdence from Mothers' Return to Chrstna Felfe Unversty of St. Gallen, chrstna.felfe@unsg.ch The Wllngness to Pay for Job

More information

Luby s Alg. for Maximal Independent Sets using Pairwise Independence

Luby s Alg. for Maximal Independent Sets using Pairwise Independence Lecture Notes for Randomzed Algorthms Luby s Alg. for Maxmal Independent Sets usng Parwse Independence Last Updated by Erc Vgoda on February, 006 8. Maxmal Independent Sets For a graph G = (V, E), an ndependent

More information

CHOLESTEROL REFERENCE METHOD LABORATORY NETWORK. Sample Stability Protocol

CHOLESTEROL REFERENCE METHOD LABORATORY NETWORK. Sample Stability Protocol CHOLESTEROL REFERENCE METHOD LABORATORY NETWORK Sample Stablty Protocol Background The Cholesterol Reference Method Laboratory Network (CRMLN) developed certfcaton protocols for total cholesterol, HDL

More information

DO LOSS FIRMS MANAGE EARNINGS AROUND SEASONED EQUITY OFFERINGS?

DO LOSS FIRMS MANAGE EARNINGS AROUND SEASONED EQUITY OFFERINGS? DO LOSS FIRMS MANAGE EARNINGS AROUND SEASONED EQUITY OFFERINGS? Fernando Comran, Unversty of San Francsco, School of Management, 2130 Fulton Street, CA 94117, Unted States, fcomran@usfca.edu Tatana Fedyk,

More information

A Probabilistic Theory of Coherence

A Probabilistic Theory of Coherence A Probablstc Theory of Coherence BRANDEN FITELSON. The Coherence Measure C Let E be a set of n propostons E,..., E n. We seek a probablstc measure C(E) of the degree of coherence of E. Intutvely, we want

More information

MAPP. MERIS level 3 cloud and water vapour products. Issue: 1. Revision: 0. Date: 9.12.1998. Function Name Organisation Signature Date

MAPP. MERIS level 3 cloud and water vapour products. Issue: 1. Revision: 0. Date: 9.12.1998. Function Name Organisation Signature Date Ttel: Project: Doc. No.: MERIS level 3 cloud and water vapour products MAPP MAPP-ATBD-ClWVL3 Issue: 1 Revson: 0 Date: 9.12.1998 Functon Name Organsaton Sgnature Date Author: Bennartz FUB Preusker FUB Schüller

More information

Estimating Total Claim Size in the Auto Insurance Industry: a Comparison between Tweedie and Zero-Adjusted Inverse Gaussian Distribution

Estimating Total Claim Size in the Auto Insurance Industry: a Comparison between Tweedie and Zero-Adjusted Inverse Gaussian Distribution Estmatng otal Clam Sze n the Auto Insurance Industry: a Comparson between weede and Zero-Adjusted Inverse Gaussan Dstrbuton Autora: Adrana Bruscato Bortoluzzo, Italo De Paula Franca, Marco Antono Leonel

More information