What really happened to consumption inequality in the US?

This paper considers data quality issues for the analysis of consumption inequality exploiting two complementary datasets from the Consumer Expenditure Survey for the United States. The Interview sample follows survey households over four calendar quarters and consists of retrospectively collected information about monthly expenditures on durable and non-durable goods. The Diary sample interviews household for two consecutive weeks and includes detailed information about frequently purchased items (food, personal cares and household supplies). Most reliable information from each sample is exploited to derive a correction for the measurement error affecting observed measures of consumption inequality in the two surveys. We find that consumption inequality, as measured by the standard deviation of log non-durable consumption, has increased by roughly 5% points during the 1990s

Credit constraints in the market for consumer durables: evidence from micro data on car loans

We investigate the significance of borrowing constraints in the market for consumer loans. Using data from the Consumer Expenditure Survey on auto loan contracts we estimate the elasticities of loan demand with respect to interest rate and maturity. We find that, with the exception of high income households, consumers are very responsive to maturity and less responsive to interest rate changes. Both elasticities vary with household income, with the maturity elasticity decreasing and the interest rate elasticity increasing with income. We argue that these results are consistent with the presence of binding credit constraints in the auto loan market

Credit constraints in the market for consumer durables: evidence from micro data on car loans

We investigate the empirical significance of borrowing constraints in the market for consumer loans. We set up a theoretical model of consumer loan demand, which in the presence of credit rationing implies restrictions on the elasticities of loan demand with respect to the interest rate and the maturity of the loan. We estimate these elasticities and test the theoretical implications using micro data from the Consumer Expenditure Survey (1984-1995) on auto loan contracts. The econometric specification that we employ accounts for important features of the data: selection, censoring, and simultaneity. Our results suggest that credit constraints are binding for some groups in the population, in particular for young and low-income households

Food and cash transfers: evidence from Colombia

We study food Engel curves among the poor population targeted by a conditional cash transfer programme in Colombia. After controlling for the endogeneity of total expenditure and for the (unobserved) variability of prices across villages, the best fit is provided by a log-linear specification. Our estimates imply that an increase in total expenditure by 10% would lead to a decrease of 1% in the share of food. However, quasi-experimental estimates of the impact of the programme on total and food consumption show that the share of food increases, suggesting that the programme has more complex impacts than increasing household income. In particular, our results are not inconsistent with the hypothesis that the programme, targeted to women, could increase their bargaining power and induce a more than proportional increase in food consumption

How effective are conditional cash transfers? Evidence from Colombia

Conditional cash transfer (CCT) programmes are becoming an extremely popular tool for improving the education and health outcomes of poor children in developing countries. An incomplete list of countries in which they are being implemented under the support of the World Bank and other international financial institutions includes Mexico, Honduras, Nicaragua, Brazil, Turkey and Mozambique. While the implementation details vary from country to country, many are modelled on the Mexican PROGRESA. In a typical CCT, mothers from poor backgrounds receive cash conditional on their promoting certain activities on behalf of their children. For their youngest children - usually those below the age of 6 - the conditionality involves visits to preventive healthcare centres in which their growth is monitored. School attendance is the most common stipulation for receipt of cash transfers for older children - usually those between 7 and 17 years old. This targeting of health and education of children is at the essence of the long-term poverty alleviation objective of CCT programmes. Such transfer programmes are also aimed at the short-term reduction of poverty, through the provision of immediate funds to indigent households. In this Briefing Note, we will focus on the programme Familias en Acción (FA), the CCT implemented by the Colombian government from 2001/02. In particular, we will provide estimates of how the programme has influenced key welfare indicators such as school attendance, child nutrition and health status, as well as household consumption. In this respect, we will update the preliminary results that were reported in Attanasio et al. (2003 and 2004)

New aspects of microwave properties of Nb in the mixed state

We present a study of the frequency dependence of the vortex dynamics in a conventional superconductor. We have employed a swept-frequency, Corbino-disk technique to investigate the temperature (3.6K-Tc) and high-field (from Hc2/2 to Hc2) microwave complex resistivity in Nb thin (20-40 nm) films as a function of the frequency (1-20 GHz). We have found several previously unnoticed features: (i) a field-dependent depinning frequency in the GHz range; (ii) deviations from the accepted frequency dependence, that can be ascribed to some kind of vortex creep; (iii) the presence of switching phenomena, reminiscent of vortex instabilities. We discuss the possible origin of the features here reported.Comment: 5 pages, 3 figures, presented at VORTEX VI Conference, to appear on Physica

Child education and work choices in the presence of a conditional cash transfer programme in rural Colombia

This research is part of a large evaluation effort, undertaken by a consortium formed by IFS, Econometria and SEI, which has considered the effects of Familias en Accion on a variety of outcomes one year after its implementation. In early reports, we focussed on the effects of the programme on school enrolment. In this paper, we both expand those results, by carefully analysing anticipation effects along with other issues, and complement them with an analysis of child labour - both paid and unpaid (including domestic) work. The child labour analysis is made possible due to a rich time use module of the surveys that has not previously been analysed. We find that the programme increased the school participation rates of 14 to 17 year old children quite substantially, by between 5 and 7 percentage points, and had lower, but non-negligible effects on the enrolment of younger children of between 1.4 and 2.4 percentage points. In terms of work, the effects are generally largest for younger children whose participation in domestic work decreased by around 10 to 12 percentage points after the programme but whose participation in income-generating work remained largely unaffected by the programme. We also find evidence of school and work time not being fully substitutable, suggesting that some, but not all, of the increased time at school may be drawn from children's leisure time

Evaluación del Programa Familias en Acción - Subsidios Condicionados de la Red de Apoyo Social. Informe de la Linea de Base (Ajustado)

This is the baseline evaluation report of Familias en Acción, a conditional cash transfer programm

Microwave properties of Nb/PdNi/Nb trilayers. Observation of flux flow in excess of Bardeen-Stephen theory

We combine wideband (1-20 GHz) Corbino disk and dielectric resonator (8.2 GHz) techniques to study the microwave properties in Nb/PdNi/Nb trilayers, grown by UHV dc magnetron sputtering, composed by Nb layers of nominal thickness $d_S$=15 nm, and a ferromagnetic PdNi layer of thickness $d_F$= 1, 2, 8 and 9 nm. We focus on the vortex state. Magnetic fields up to $H_{c2}$ were applied. The microwave resistivity at fixed $H/H_{c2}$ increases with $d_F$, eventually exceeding the Bardeen Stephen flux flow value.Comment: 6 pages. Submitted to Journal of Superconductivity and Novel Magnetis

SWARM Optimization of Force Model Parameters in Micromilling

Because of the improvement of machine-tool and tool performances in micro cutting field, the interest on these processes is increasing. Therefore, researchers involved in micro manufacturing processes focused their attention on these types of processes with the aim of improving the knowledge on the phenomena occurring during micro cutting operations. The objective of this work is to develop a modelling procedure for forecasting cutting forces in micromilling considering the tool run-out and the cutting tool geometry. The designed modelling procedure combines information coming from a force model, an optimization strategy and some experimental tests. The implemented force model is based on specific cutting pressure and actual instantaneous chip section. The tool run-out and the cutting tool geometry were considered in the analytical model. The adopted optimization strategy was based on the Particles Swarm strategy due to its suitability in solving analytical non-linear models. The experimental tests consisted in realizing micro slots on a sample made of Ti6Al4V. The comparison between experimental and analytical data demonstrates the good ability of the proposed procedure in correctly defining the model parameters