Practical guidelines for effective bank resolution

This study adopts a practical approach in developing a set of guidelines on designing a bank resolution framework and implementing efficient bank resolution methods in Latin America. It identifies six pillars that are useful for establishing a bank resolution framework. The study aims to guide policymakers choose from a set of bank resolution methods, by outlining their advantages and disadvantages and establishing efficiency requirements. The focus is on the good-bank/bad-bank approach, which is a type of purchase and assumption mechanism that has increasingly become part of the newer legal frameworks in Latin America. The good-bank/bad-bank approach is an effective bank resolution method because it can be very successful in meeting certain efficiency criteria, including the minimization of contagion costs and preservation of business.Banks&Banking Reform,,Access to Finance,Debt Markets,Bankruptcy and Resolution of Financial Distress

Switching bubbles: from outside to inside bubbles

The United States has recently experienced two asset price bubbles: the Dot-Corn and the Housing Bubbles. These bubbles had very different effects on investment and debt of manufacturing firms. In this paper I develop a framework to understand the differential effect of two types of rational bubbles. I distinguish between (i) Outside Bubbles, which I define as savers purchasing and selling costless assets not-attached to inputs of production and (ii) Inside Bubbles, which I define as savers buying an input of production (e.g., land or houses) only as a store of value. The model is an OLG economy with savers and entrepreneurs. Savers save to consume when they are old. Entrepreneurs can borrow to invest but they face a collateral constraint. In this environment, rational bubbles can emerge. I show that the size of an Inside Bubble is larger. I also find that when the economy switches from an Outside to an Inside Bubble, manufacturing (or non-housing) investment and debt is lower, consistent with the U.S. experience. Finally, I show that even though steady-state consumption is higher with an Outside Bubble, a social planner would prefer an Inside Bubble when the productivity of entrepreneurs is low. (C) 2016 Elsevier B.V. All rights reserved.I acknowledge financial support from Banco de España and from the Ministerio de Economía y Competitividad (Spain), grant MDM 2014–0431

Examining the Relationship of Race on Students’ Perceptions of Safety and Concealed Campus Carry on a University Campus

Previous literature suggests that students who feel unsafe in their academic settings experience harmful academic, social, and psychological ramifications. With an alarming increase in school shootings, violence, and media coverage, the political discourse surrounding gun violence and strategies to ensure safety on college campuses has become increasingly polarized. States like Texas, Georgia, and Colorado have passed bills allowing students to carry concealed handguns on university campuses. At the time of this study, the state legislature in West Virginia passed a similar bill known as the Campus Self-Defense Act (Senate Bill 246, 2021). College students who identify as Black, Indigenous, People of Color (BIPOC) face unique stressors compared to their White student peers when it comes to perceptions of safety on campus. At primarily White institutions (PWIs), students identifying as BIPOC have reported feeling less safe, likely contributing to higher attrition rates and other barriers to success (Gummadam et al., 2015). This study aimed to address a gap in the literature by investigating perceptions of safety regarding concealed carry gun policies among undergraduate students identifying as BIPOC. In the present study, 226 undergraduate students (Mage = 19.6, 85.4% women-identifying, 11.9% BIPOC) reported their gun beliefs and behaviors, fear of on-campus crime victimization, and attitudes toward campus carry. Controlling for gender identity, sexual identity, age, in-state residence, and years of undergraduate education, participants identifying as BIPOC reported feeling significantly less safe with campus carry gun policies, compared to their White counterparts. Future research directions and clinical implications are discussed

Measuring the performance and achievement of social objectives of development finance institutions

This paper develops and tests a proposed methodology that puts forward a new integrated method for evaluating the performance of development finance institutions. This methodology applies assessment criteria that take into account both the social objective that the development finance institution addresses and the subsidies it received in order to achieve such an objective. This methodology is applied to two pilot case studies-Banadesa (Honduras) and Banrural (Guatemala). The authors calculate the previously tested subsidy dependence index, which measures the degree of an institution's subsidy dependence. The paper develops and estimates a new measure-the output index- which indicates the level to which the institution fulfills the social objectives of the state. The analysis integrates the subsidy dependence index and the output index to assess the effectiveness associated with meeting the social objective. The findings suggest that the integration of the two indexes can constitute the basis of a meaningful evaluation framework for the performance of development finance institutions. This new methodology can also be a useful metric for policy makers who are seeking to decide on an optimal allocation of scarce funds for development finance institutions that pursue social goals and for management that seeks improved performance outcomes.,Access to Finance,Debt Markets,Banks&Banking Reform,Economic Theory&Research

Lifestyle behaviors and illness related factors as predictors of recurrent headache in US adolescents

Purpose. Successful management of recurrent headache among adolescents requires an understanding of the lifestyle behaviors (skipping meals, water intake, tobacco use, alcohol use, and physical activity) and illness related factors (depression, somatic complaints, insomnia and obesity) reported to be associated with this headache type. This study describes a multivariate model demonstrating how lifestyle behaviors and illness related factors work together to predict recurrent headache in an adolescent population.;Method. A descriptive, cross-sectional, secondary analysis using survey data from the National Longitudinal Study of Adolescent Health (Add Health) (1996) will be reported. Add Health is a large database providing a nationally representative sample of adolescents (ages 11--17, n=13,570). The database evaluated adolescent headache and is inclusive of all the predictors specific to this study. Add Health was obtained from the UNC Carolina Population Center after an IRB Security Plan was approved. Frequency analysis and forward logistic regression were performed using each of the lifestyle behaviors and illness related factors.;Results. Approximately 26% of the adolescents experienced recurrent headache. Recurrent headache was reported by 19% of males and 26% of females. A multivariate model was developed that demonstrated how lifestyle behaviors and illness related factors predict recurrent headache in adolescents. Main effects demonstrated that the odds of having recurrent headache were significantly associated with gender (OR .36, CI .32, .42), chest pain (OR 2, CI 1.8, 2.9), depression (OR 1.87, CI 1.6, 2.2), insomnia (OR 2.03, CI 1.6, 2.5), muscle and joint pain (OR 1.9, CI 1.6, 2.1), skipping breakfast 3 or more times a week (OR 1.2, CI 1.08, 1.33), and skipping lunch one or more times a week (OR 1.14, CI 1.02, 1.27). The main effect of race was significant for Hispanics (OR .59, CI .46, .75), African Americans (OR .62, CI .53, .72), and Asians (OR .42, CI .29, .61). Significant results were found when comparing no sports activity with sports activity 5 or more times a week (OR 1.17, CI 1.0042, 1.3714) as well as when comparing sports activity 1 or more times a week with sports activity 5 or more times a week (OR 1.28, CI 1.06, 1.56). The final model consisted of the following predictors: chest pain, muscle and joint pain, skip breakfast three or more times a week, skip lunch one or more times a week, and physical activity. The interactions of gender and age group, race and smoke regularly and depression and insomnia were also included in the final model.;Conclusion. Providing evidence to clinicians that lifestyle behaviors and illness related factors are associated with adolescent recurrent headache may improve overall headache assessment and may result in a more comprehensive plan of treatment. Future studies include development of interventions based upon the reported model and subsequent evaluation of the effectiveness of such interventions on adolescent recurrent headache