Household Saving Behaviour in New Zealand: A Cohort Analysis

This paper seeks to improve our understanding of household saving behaviour. It is based on an analysis of unit record data from March years 1984 to 1998 taken from the Household Economic Survey (HES). There are limitations of the data set but it provides the only available estimates of income and expenditure, from which saving is estimated as a residual. The HES is a series of cross-sectional surveys rather than a true panel, so we construct synthetic cohorts rather than tracking individual households. We use a range of regression models to separate out the effect of age, birth-year cohort and year on saving rates. The typical age profile for savings is hump-shaped, peaks around age 57 and does not become negative at older ages. Such a profile appears to have shifted down for the cohorts born between 1920 and 1939 relative to the younger and older cohorts studied. This pattern of cohort effects is robust to the inclusion of conditioning variables and to the trimming from the sample of households with either negative or very large ratios of savings to consumption. Preliminary investigation supports the hypothesis that changes in the economic and policy environment help explain the different saving behaviour of different birth cohorts. Tentative results suggest that more favourable environments are associated with lower rates of lifetime saving, although more research is needed to confirm this finding.Household saving, lifecycle, age, cohorts

Household Saving Behaviour in New Zealand: Why do Cohorts Behave Differently?

The aim of this paper is to add to the understanding of saving decisions by households. The saving behaviour of households is found to differ depending on the birth cohort of the household head. This paper seeks to explain why this pattern might exist. It is based on an analysis of synthetic cohorts derived from unit record data taken from the Household Economic Survey (HES) for the March years 1984 to 1998. The need to use synthetic cohorts arises as the HES is not a longitudinal panel survey, but rather a time series of independent cross-sectional samples. We use a range of regression models to separate out the effect of age, birth-year cohort and year on saving rates. The typical saving rates for the cohorts born between 1920 and 1939 are found to be significantly lower relative to the younger and older cohorts studied. This pattern of cohort effects is robust to the inclusion of conditioning variables; to the trimming from the sample of households with either negative or very large ratios of savings to consumption, and to different definitions of saving. Some exploratory investigation supports the hypothesis that changes in the economic and policy environment help explain the different saving behaviour of different birth cohorts. Tentative results suggest that more ?favourable environments are associated with lower rates of lifetime saving.Household saving rates; cohort effects; New Zealand; economic and social policies

National Hockey League guaranteed contracts: A principal agent problem impacting on performance

Purpose – This paper aims to investigate, through the lens of the principal–agent problem, the relationship between payment of National Hockey League (NHL) salaries and player performance during the period of 2005-2011 and explore the inherent issues within the NHL player compensation and incentive structure. Design/methodology/approach – The research adopts a pragmatic philosophy with deductive reasoning. This paper focuses on the NHL season 2005-2011 and undertake analysis of historical player contracts and performance data of 670 players across 29 clubs to undertake liner regression analysis. Findings – This paper quantifies potential inefficiencies of NHL league contracts and defines the parameters of the principal–agent problem. It is identifies that player performance generally increases with salary, is higher in the first year of a contract and despite decreasing over the life of the contract, will usually peak again in the final year of the contract. Research limitations/implications – The research is based around figures from 2005-2011 and secondary statistical data. The study captures quantitative data but does not allow for an exploration of the qualitative perspective to the problem. Practical implications – Entry-level or first contracts are good for all teams and players because they provide incentive to perform and a reduction of risk to the team should a player not perform to expectations. The same can be said for players at the other end of the spectrum. Although not typically used much, performance bonuses for players over the age of 35 allow clubs to “take a chance” on a player and the player can benefit by reaching attainable bonuses. These findings therefore provide contributions to the practicing managers and coaches of NHL teams who can consider the results to help shape their approach to management of players and the planning of teams and succession planning for talent. Originality/value – The paper presents a comprehensive and current perspective of the principal–agent problem in NHL and extends the work of Purcell (2009) and Gannon (2009) in understanding player performance enhancement

Description of the Immature Stages of Trioza uniqua (Caldwell) (Homoptera: Psyllidae)

The taxonomic position of Trioza uniqua (Caldwell) and its evolutionary affinities with the genera Kuwayama and Trioza are reviewed. Detailed descriptions of the five nymphal instars are given

Parasites Associated with the Leucaena Psyllid, Heteropsylla cubana Crawford, in Hawaii

Four species of parasitoid Hymenoptera have been reared from the Leucaena psyllid, Heteropsylla cubana Crawford, in Hawaii. In addition to the purposely introduced primary parasite Psyllaephagus yaseeni Noyes (Encyrtidae), three species of hyperparasites have been reared. These are a pteromalid, Pachyneuron siphonophorae (Ashmead), and two encyrtids, Syrphophagus aphidivorus (Mayr) and Syrphophagus sp. A key to parasitoids reared from H. cubana in Hawaii is presented

Studying medicine with dyslexia: a collaborative autoethnography

The topic of this article is the experience of the impact of dyslexia on medical studies, explored using a collaborative autoethnographic methodological approach. The study was prompted by an initial and ongoing full search of the literature, which revealed an absence of autoethnographic research into the experiences of medical students with dyslexia. It has four aims: to provide an in-depth, multi-layered account of the impact of dyslexia on a UK undergraduate medical student; to help other students and academic support staff in similar situations; to outline improvements that could be made to medical and other educational curricula and examination procedures, globally; finally, to call for further qualitative research to test out, possibly enhance, and qualify the cultural transferability of our study

Seismic Response to Injection Well Stimulation in a High-Temperature, High-Permeability Reservoir

Fluid injection into the Earth's crust can induce seismic events that cause damage to local infrastructure but also offer valuable insight into seismogenesis. The factors that influence the magnitude, location, and number of induced events remain poorly understood but include injection flow rate and pressure as well as reservoir temperature and permeability. The relationship between injection parameters and injection-induced seismicity in high-temperature, high-permeability reservoirs has not been extensively studied. Here we focus on the Ngatamariki geothermal field in the central Taupō Volcanic Zone, New Zealand, where three stimulation/injection tests have occurred since 2012. We present a catalog of seismicity from 2012 to 2015 created using a matched-filter detection technique. We analyze the stress state in the reservoir during the injection tests from first motion-derived focal mechanisms, yielding an average direction of maximum horizontal compressive stress (SHmax) consistent with the regional NE-SW trend. However, there is significant variation in the direction of maximum compressive stress (σ1), which may reflect geological differences between wells. We use the ratio of injection flow rate to overpressure, referred to as injectivity index, as a proxy for near-well permeability and compare changes in injectivity index to spatiotemporal characteristics of seismicity accompanying each test. Observed increases in injectivity index are generally poorly correlated with seismicity, suggesting that the locations of microearthquakes are not coincident with the zone of stimulation (i.e., increased permeability). Our findings augment a growing body of work suggesting that aseismic opening or slip, rather than seismic shear, is the active process driving well stimulation in many environments

Management of Children With Chronic Wet Cough and Protracted Bacterial Bronchitis CHEST Guideline and Expert Panel Report

BACKGROUND: Wet or productive cough is common in children with chronic cough. We formulated recommendations based on systematic reviews related to the management of chronic wet cough in children (aged METHODS: We used the CHEST expert cough panel\u27s protocol for systematic reviews and the American College of Chest Physicians (CHEST) methodologic guidelines and GRADE framework (the Grading of Recommendations Assessment, Development and Evaluation). Data from the systematic reviews in conjunction with patients\u27 values and preferences and the clinical context were used to form recommendations. Delphi methodology was used to obtain consensus for the recommendations/suggestions made. RESULTS: Combining data from the systematic reviews, we found high-quality evidence in children aged 4 weeks\u27 duration) wet/productive cough that using appropriate antibiotics improves cough resolution, and further investigations (eg, flexible bronchoscopy, chest CT scans, immunity tests) should be undertaken when specific cough pointers (eg, digital clubbing) are present. When the wet cough does not improve following 4 weeks of antibiotic treatment, there is moderate-quality evidence that further investigations should be considered to look for an underlying disease. New recommendations include the recognition of the clinical diagnostic entity of protracted bacterial bronchitis. CONCLUSIONS: Compared with the 2006 Cough Guidelines, there is now high-quality evidence for some, but not all, aspects of the management of chronic wet cough in specialist settings. However, further studies (particularly in primary health) are required

Exploring Cold War Religious Persecution Using the Rank-Order Approach

This lesson explores religious persecution in East Germany. Students must decide plausible actions to take against the Protestant Church to diminish power. Acting as a member of The East German Secret Police, students, evaluate, rank, and justify decisions to minimalize Christianity in an atheist society