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As the second populous country in the world, China is confronted with the significant and rapid challenge of population ageing. The household savings rate is inevitably impacted by population ageing. Most existing research has been conducted using macro data from 31 provinces in China. However, most of them lacks consideration of urban-rural differences. Furthermore, there are concerns regarding the applicability of using macro data to study household-level microeconomic issues. Against this backdrop, the objectives of this paper are twofold: first, to investigate the effect of population ageing on the savings rates of urban and rural households in China. Second, this work examines whether urban–rural heterogeneity is evident in the impact of population ageing on household savings in China. This paper conducts a regression analysis on pseudo-panel data from 2010 to 2018 in China using micro-level household data from China Family Panel Studies and employing a Feasible Generalized Least Squares model. The key contribution of this paper is converting cross-sectional microdata into pseudo-panel data, enabling regression analysis within a logical and rigorous theoretical framework. It addresses limitations on existing literature, which predominantly relies on macro data. Additionally, the study takes into account heterogeneity, individual differences, and multicollinearity in regression model selection, thereby remedying the shortcomings of model selection in the majority of the existing literature based on pseudo-panel data. The findings reveal the heterogeneity of household savings rates in urban and rural China, as well as the heterogeneity of the impact of population ageing on the savings rates of urban and rural households in China. Specifically, population ageing significantly reduces household savings rates in both China and rural areas, but significantly increases the savings rates of urban households. Moreover, in the context of population ageing, urban household savings rates are significantly lower than those in rural areas. Policymakers should strengthen urbanization efforts to reduce the urban-rural disparity. In addition, to mitigate the impact of population ageing on savings rates, policymakers should encourage fertility in order to improve household demographics. They should also strengthen investment in education to reduce the burden of household expenditure on education. In addition, policymakers should promote entrepreneurship, provide job training in order to increase household incomes. [ABSTRACT FROM AUTHOR]

• The early Riksbank played an important role in providing emergency finance for Sweden. • I find that political and legal restrictions on the Riksbank were at least a proximate cause of Sweden's military defeats. • Policy experimentation at the Riksbank led to inflation and corresponding reductions in economic activity. At the beginning of the 18th century, Sweden was an imperial power that had just sustained a century of modest economic growth. In 1800, Sweden's empire was gone, after a series of military defeats. Real GDP per capita had fallen to the same level as the early 1600s. In other words, the 18th century witnessed the end of the Swedish Empire and a startling reversal of economic progress. In this paper, I propose a possible explanation for both of these outcomes. First, I argue that Sweden's limited fiscal capacity played an important role. The creation of the Riksbank should have facilitated government borrowing and military spending as the Bank of England did for the British. However, the Riksbank was not designed or equipped for this role. I document the constraints on financing national defense through the Riksbank and argue that the bank was ill-equipped to finance an adequate national defense. This explains the reversal of the empire. Second, when the Hats took power in the Riksdag in 1739, they used the Riksbank to give loans to firms, which were financed through the issuance of bank notes. The objective was to increase investment and economic activity. I find no evidence that these loans had any effect on real GDP per capita. However, the resulting inflation has a negative and significant effect on output during the period of inconvertible paper money. The combined evidence suggests that Hat policy contributed to the decline in economic activity during the reversal of fortune. [ABSTRACT FROM AUTHOR]

• Unveiling insights into the Chinese low consumption puzzle by emphasizing the impact of monopolistic and strategic land supply on the final consumption rate. • Monopolistic land supply suppresses the final consumption rate by expanding government income share and widening urban-rural income gaps. • Strategic land supply suppresses the final consumption rate by driving up the share of capital income and housing prices. • Reducing land transaction monopolies and optimizing supply structures can yield substantial benefits for economic rebalancing. The challenge of low consumption presents a complex development issue in China, one that has been insufficiently analyzed through the lens of land supply. This paper introduces a fresh perspective to the Chinese low consumption puzzle by shedding light on the constraints imposed by monopolistic/strategic land supply on the final consumption rate. Our findings reveal that China's distinctive land supply patterns systematically restrict consumption, as monopolistic land supply hinders total consumption by widening the share of government sector income and the urban-rural income gap. Additionally, strategic land supply curtails consumption by increasing the share of capital income and driving up housing prices. This study underscores the significance of land supply-side reforms in bolstering consumption, offering valuable policy insights for China and other transitioning economies. [ABSTRACT FROM AUTHOR]

To estimate the prevalence of current DSM-5 disorders in children 9 to 10 years of age and their associations with sociodemographic and physical characteristics. In this analysis of Adolescent Brain Cognitive Development (ABCD) first wave study data, current child mental disorders were based on the computerized parent version of Schedule for Affective Disorders and Schizophrenia for School-Age Children (K-SADS) for DSM-5 (N = 11,874) supplemented with the child version of K-SADS for mood and selected anxiety disorders and with teacher Brief Problem Monitor ratings for the attention and externalizing scales. Child sociodemographic (race/ethnicity, nativity, parental marital status, parental education, family income) and physical (sex, pubertal stage, weight status, maternal age) characteristics were derived from parent report and anthropometric measurement. Odds ratio (OR) with 95% CI assessed associations with child mental disorders. The prevalence of any current mental disorder was 10.11%, including 11.48% among boys and 8.68% among girls. After controlling for several sociodemographic and physical characteristics, boys (OR = 1.53, 95% CI = 1.17-1.99), children from families with incomes below $25,000 (OR = 2.05, 95% CI = 1.31-3.22) and families with incomes of $25,000 to $49,000 (OR = 1.90, 95% CI = 1.20-3.00) (reference: $75,000), and obese children (OR = 1.45, 95% CI = 1.16-1.81) (reference: healthy weight) were at increased risk for any current child mental disorder. Children from the lowest family income group were at particularly high risk for attention-deficit/hyperactivity disorder (OR = 3.86, 95% CI = 1.69-8.79) and disruptive behavior disorders (OR = 4.13, 95% CI = 1.86-9.15). These patterns underscore the importance of strengthening service planning, preventive interventions, and etiological research focused on children from low-income families. We worked to ensure sex and gender balance in the recruitment of human participants. One or more of the authors of this paper self-identifies as a member of one or more historically underrepresented racial and/or ethnic groups in science. One or more of the authors of this paper self-identifies as a member of one or more historically underrepresented sexual and/or gender groups in science. We actively worked to promote sex and gender balance in our author group. The author list of this paper includes contributors from the location and/or community where the research was conducted who participated in the data collection, design, analysis, and/or interpretation of the work. [ABSTRACT FROM AUTHOR]

This paper examines how the perceived importance of family background affects distributional preferences using two large-scale survey experiments. In the first experiment, we randomly inform respondents about the relationship between parental income and economic success later in life, making their social mobility perceptions more pessimistic. However, this changes neither revealed distributional preferences nor pro-social behavior toward the rich and poor. The second experiment shows that respondents do not account for parental influence on economic success when making (re-)distribution decisions, suggesting that people view parental influence as a legitimate reason to justify some inequality. This can explain why distributional preferences are immune to changes in perceptions of social mobility. [ABSTRACT FROM AUTHOR]

In recent times, the landscape of financial literacy has been evolving to accommodate new trends driven by the growing prominence of digital finance. This shift has underscored the vital need for developing digital financial literacy (DFL). Scientists and researchers have increasingly recognized the crucial importance of acquiring the knowledge and skills required to navigate the complexities of digital transactions, crypto currencies, online banking, and digital investment platforms. In our study conducted in Bosnia and Herzegovina, we utilized the 2022 OECD survey questionnaire for this purpose. Employing various data collection methods, including Paper and Pencil Interviewing, Computer-Assisted Personal Interviewing, and Computer-Assisted Telephone Interviewing, we gathered a substantial dataset comprising 1,096 fully completed questionnaires. Our primary contribution lies in the assessment of DFL scores among adults in Bosnia and Herzegovina, marking the first study of its kind in this transitional and developing nation. Furthermore, our research identifies notable personal background and socio-demographic disparities in DFL levels, rooted in factors such as age, gender, urban or rural residence, education, income and internet access, but also self-awareness of financial knowledge, owning a current account and a credit card. The survey results underscore the prevailing low levels of DFL in Bosnia and Herzegovina, with an overall score of 3.83 out of 10, highlighting the urgency for government intervention in addressing this issue. [ABSTRACT FROM AUTHOR]

This paper investigates the household response to health shocks and the mitigating effect of broadband infrastructure using micro survey data from the China Health and Retirement Longitudinal Study (CHARLS). This study contributes to the literature by exploiting the "Broadband China" policy to address endogeneity issues and constructing multidimensional health indicators to assess the distinct effects of various health status changes on household outcomes. We find that household income from agricultural productivity and food consumption are well insured against health shocks, while health shocks significantly reduce income from self-employed activities and increase nonfood consumption. In addition, our findings suggest that broadband infrastructure plays an important role in reducing the negative impact of health shocks through two important channels: optimizing financial asset management and increasing public transfers from the government. These findings highlight the importance of broadband development, which can help rural households better cope with unexpected health shocks and reduce the likelihood of falling into poverty. [ABSTRACT FROM AUTHOR]

Rural E-commerce (EC) has experienced rapid growth in China since 21st century. The formation of Taobao Villages has brought considerable economic and social benefits in farmers' flexible employment and poverty reduction, which contributes to the future development direction of rural and underdeveloped areas. Adopting the panel data of Taobao Villages (TB-villages) in 57 counties of Zhejiang Province from 2010 to 2018, this paper applies the continuous difference-in-differences (DID) method to investigate the impact and mechanism of TB-villages on rural residents' incomes. As a result of empirical analysis, TB-villages significantly and positively affect rural residents' incomes. More specifically, per capita net income will increase by 3.6% for every 1% increase in the proportion of TB-villages in administrative villages. In mountainous counties, the income-increasing effect is considerably higher than that of non-mountainous counties. Furthermore, the mechanism analysis reveals that the industry structure has a considerable mediating effect, and the proportion of export to GDP has a significant suppressing effect. Local governments are expected to increase investment in industry structure and create a more conducive environment for rural economic development, according to this paper. Additionally, the policy should be oriented toward mountainous and backward areas. • Taobao Villages substantially increase rural residents' incomes. • Taobao Villages have a higher income increasing effect in mountainous counties. • Industry structure has a considerable mediating effect, while exports exhibit a substantial suppressing effect. [ABSTRACT FROM AUTHOR]

Households in urban informal settlements of Kisumu City use multiple fuels for their cooking and heating. Despite this reality, previous national inventories of fuel choices in these settlements were based on the most preferred fuel rather than the whole fuel composite used by the households. This paper, therefore, examines the fuel combinations that households in informal settlements of Kisumu City use and how their socio-economic characteristics influence their choice of these combinations. The paper is premised on the energy stacking theory. The study sampled 419 households from informal settlements of Kisumu City. Multinomial logistic regression is used to establish correlation between household characteristics and fuel combination choices. The findings show that majority of households in urban informal settlements of Kisumu City use multiple fuels for cooking, with charcoal and liquefied petroleum gas being the most commonly stacked fuels. Education does not have a strong correlation with fuel choices; whereas household size reliably predicts the choice of individual fuels. Household income significantly predicts the adoption of fuel stacks that have liquefied petroleum gas and charcoal. While increase in household income has a positive correlation with adoption of modern fuels, it does not lead to households dropping primitive and transitional fuels from their stacks. The study asserts that the energy stacking theory is a suitable basis for assessing the relationship between household-based socioeconomic determinants and fuel combination choices among residents of SSA cities. The reality of fuel stacking in urban informal settlements requires policies geared towards increasing access to modern household fuel technologies while incentivizing adoption of fuel-efficient biomass stoves. • Inventory of household fuels should include the whole spectrum of cooking fuels. • Multiple cooking fuel use is common in informal settlements of Sub-Saharan Africa. • Income has a significant correlation with all the fuel-stacking choices studied. • Household income is not always negatively correlated with use of traditional fuels. • Energy stacking theory is suitable in assessing fuel choices in Sub-Saharan Africa [ABSTRACT FROM AUTHOR]

When externalities are present, is the inclusion of the affected stakeholders in the firm's decision process a better solution than the shareholder governance? This paper argues that the internalization of the externality hinges on the available information and the market strategy used by the firm rather than its governance structure. In the absence of income effects (i.e., if preferences are quasi-linear), a market for "customer rights" reveals all the necessary information about the surplus of a homogeneous consumer population. In that case, a Coase-type equivalence obtains: whether the firm uses the information in the interest of its shareholders or all its stakeholders, the outcome in each case is an efficient allocation. With income effects, the market for customer rights may fail. Still, if appropriate information can be obtained, efficiency can be achieved under both governance structures (or neither). [ABSTRACT FROM AUTHOR]

This paper investigates the effects of cultural origin on entrepreneurship. Using Swedish registry data on second-generation immigrants and risk appetite measures from the Global Preference Survey (GPS), we investigate whether risk preferences in parents' home countries affect entrepreneurship. We find that children of immigrants from more risk-loving cultures are more likely to start up a business, although of poorer quality. We also find that entrepreneurs with parents from cultures with higher risk appetite earn a lower personal income. Our analysis demonstrates that culturally transmitted risk appetite has significant effects beyond individual and parental socioeconomic characteristics. [ABSTRACT FROM AUTHOR]

China's cultural consumption has experienced accelerating growth in the recent decade despite the slowdown of economic growth. This paper analyses the relationship between household income and cultural consumption using a representative agent model. By decomposing consumption into cultural and non-cultural components, we consider an additive utility function that displays a threshold of income above which cultural consumption arises. We also run numerical simulations on the extended model to estimate price and income elasticities of demand for cultural goods and services, and to evaluate the effects of cultural consumption promotion policies through various income and price subsidies which are currently practiced in China. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of firms' digital transformation on labor income share utilizing a large sample of Chinese-listed enterprises from 2003 to 2020, and we find a negative correlation between digital transformation and enterprise labor income share. The results are robust to changing variable indicators, instrumental variable approach, and Difference-in-Difference method. The impact of enterprise digital transformation on labor income share is more pronounced for industrial industry, technology-intensive, and state-owned firms. Product market competition, employee wage bargaining power, and market size are essential in the relationship between enterprise digital transformation and labor income share. This study reveals that protecting employee rights and maintaining fair competition help weaken enterprise digital transformation's negative impact on labor income share. [ABSTRACT FROM AUTHOR]

One of the challenges in the transition to a low-carbon economy is how to improve the energy and environmental performance of migrants. China has experienced rapid urbanization and a surge in domestic migration in recent years. People migrate within China are an indispensable integral part of sustainable development. Do migrants engage in environmental affairs to the same extent as the locals? Extant literatures have paid insufficient attention to this topic. This paper contributes to the understanding of differences in environmental participation among urban residents who hold varying types of household registration (namely, hukou) identity. Drawing on large-scale survey datasets and the technique of matching, the study finds that: (1) the environmental engagement of migrants is less active than those owning hukou , (2) migrants' duration of residence, household income, and the level of barriers to obtaining local hukou moderate the above relationship, and (3) the lack of social trust and sense of belonging that comes with the absence of hukou identity are channels constraining migrants' environmental involvement. This article contends that further reform of the hukou system might be necessary to incentivize migrants to take a more proactive role in environmental matters. [ABSTRACT FROM AUTHOR]

This paper investigates the pension effect on poverty reduction in rural China, considering the influences of potential substitution income, including earned and transfer income from older adults and children, respectively. The study created a counterfactual group to impute potential substitution income from the income distribution perspective. We find that when substitution income is not considered, pension effect on poverty reduction may be overestimated. Comparing the two types of substitution income, earned income is found to have a larger effect than that of transfer income from children, and it is significantly more for the middle- and high-income groups. The substitution relationship between pensions and earned income has increased in China in recent years. • To investigate the pension effects on poverty reduction. • To investigate the pension effects on income distribution. • Develop a method to calculate the imputed substitution income. • Pension effect may be overestimated when not considering substitution income. • The effect of earned income is larger than that of the transfer income in China. [ABSTRACT FROM AUTHOR]

• Post COVID-19, a third of Scottish residents expect to use public transport less. • A random parameter bivariate probit model was estimated to analyse survey data. • Sociodemographic, perceptual and behaviour factors affected future bus & train use. • Perceived risk of COVID-19 infection significantly influenced future travel choices. • Frequent bus users in urban areas were less likely to abandon public transport. This paper examines the determinants of changes in future public transport use in Scotland after the COVID-19 pandemic. An online questionnaire was distributed to 994 Scottish residents in order to identify travel habits, attitudes and preferences during the different phases of the COVID-19 outbreak and travel intentions after the pandemic. Quota constraints were enforced for age, gender and household income to ensure the sample was representative of the Scottish population. The respondents indicated that they anticipated they would make less use of buses and trains at the end of the pandemic. Over a third expect to use buses (36%) and trains (34%) less, whilst a quarter expect to drive their cars more. As part of the analysis, a random parameter bivariate probit model with heterogeneity in the means of random parameters was estimated to provide insights into the socio-demographic, behavioural and perceptual factors which might affect future public transport usage. The inclusion of random parameters allows for the potential effects of unobserved heterogeneity within the independent variables to be captured, whilst making allowances for heterogeneity in the means of the random parameters. The model estimation showed that several factors, including pre-lockdown travel choices, perceived risk of COVID-19 infection, household size and region significantly affected intended future use of public transport. In addition, several variables related to age, region, pre-lockdown travel choices and employment status resulted in random parameters. The current paper contributes to our understanding of the potential loss of demand for public transport and the consequences for future equitable and sustainable mobility. Our findings are highly relevant for transport policy when developing measures to strengthen the resilience of the public transport system during and after the pandemic. [ABSTRACT FROM AUTHOR]

• This paper tests whether personal income inequality can be considered exogenous to subsequent economic growth in Brazil. • Using a massive spatial dataset for all the 5564 Brazilian cities observed in 1991, 2000, and 2010, data reject the assumption of exogenous income inequality regarding subsequent growth. • The employed instrumental variable estimators identify causal effects from inequality to growth on average and conditional quantiles. • A decrease by 1 Gini point is associated with an increase in a cumulative economic growth of 2.5 percentage points in the following ten years. • Neglecting the endogeneity of income inequality to economic growth can lead to wrong conclusions. This paper estimates the impacts of personal income inequality on subsequent growth in a massive spatial dataset for 5564 Brazilian cities observed in 1991, 2000, and 2010 using instrumental variables methods. Based on Brazilian cities' data, the Wu-Hausman test rejects inequality exogeneity regarding growth. Instead of assuming exogenous inequality, we relax this assumption and let the data speak for themselves. Our methods identify causal effects between inequality and subsequent growth in conditional quantiles beyond the average. On average, the magnitude of the estimate implies that lowering personal income inequality by 1 Gini point would translate to an increase in a cumulative economic growth of 2.5 percentage points in the following ten years. Our findings call attention to the risk of following Litschig and Lombardi [ J. Economic Growth , 2019, vol. 24, pp. 155–187] when studying the influence of inequality on growth, neglecting the endogeneity of the former to the latter. [ABSTRACT FROM AUTHOR]

This paper investigates the spatial spillover effects of built environment features on household car and motorcycle ownership through aggregate ward-level analysis and household-level disaggregated analysis. Using a primary data collected in Hubli-Dharwad city in Southern India, the paper estimates Spatial Durbin models to assess the direct and spillover effects of socio-economic characteristics (household income, the number of children and household size), built environment characteristics (population density, diversity, distance, and subjective built environment measures), travel attitudes (pro-car, pro-NMT and pro-public transport), and commute behavior (distance and time) on household car and motorcycle ownership. The paper finds that spatial dependencies exist in both aggregate and disaggregate levels of analysis. There is a significant spatial dependency in car ownership due to household income, household size, the number of children, and pro-car attitude, and the correlations are significant in both aggregate and disaggregate levels of analysis. The positive lag effects of these variables suggests that socio-economic settings and attitudes of neighboring wards affect car and motorcycle ownership in a ward. The effects of diversity on car and motorcycle ownership maintain similar correlations in both levels of analysis. The likelihood of motorcycle ownership increases with improvements in diversity, while car ownership likelihood decreases. The study also shows that the spatial effects of built environment features could vary between the aggregate and disaggregate levels of analysis. [ABSTRACT FROM AUTHOR]

• Focuses on CBIs/AFNs as platforms for societal sustainability transition in the food realm and their members as transition stakeholders. • Fills research gap on Portuguese CBIs with empirical case study on the Lisbon-based food cooperative Fruta Feia. • Analyses how Fruta Feia membership can positively influence changes in their members' sustainability concerning values, food consumption decision-making choices as well as daily practices. • Shows that income is not a central explanatory factor for sustainability in food consumption decision-making and daily practices. • Critically reviews assumptions linked to the marginalisation and inequality discourse on environmental and sustainability agency by identifying low-income consumers as sustainability agents. Alternative Food Networks gain increasing importance in sustainability transitions of food production, retail, and consumption. This paper explores the role of AFN consumers as critical food sustainability change agents, with a special focus on low-income consumers. It challenges preconceived notions that associate sustainable living exclusively with affluent communities, highlighting the substantial influence of economically disadvantaged individuals in shaping sustainable food consumption patterns. Based on a survey of the Portuguese Fruta Feia cooperative, the paper examines how perceived income affects sustainable food values, decisions, and practices. Results highlight low-income consumers' significant, yet often overlooked, role in driving changes towards environmentally responsible food systems and practices. This research shifts the focus of sustainability change agency, underscoring the critical role of diverse, particularly financially disadvantaged, consumer groups in championing sustainability in the food sector. It also confirms the importance of AFNs and their members as critical transition stakeholders. [ABSTRACT FROM AUTHOR]

This paper considers the relationship between the digital revolution and the income of rural households in China based on the difference-in-differences (DD) method. Using rich family survey data from the China Family Panel Studies (CFPS) from 2010 to 2018, I show that the digital revolution has a large positive effect on the income of rural households, an effect of approximately ¥1382 ($214) per year, which also applies for less-educated groups. My results can be explained by an increase in the frequency of internet use, especially in relation to work and business activities. The internet promotes China's rural transformation, such as increasing employment, entrepreneurship, and part-time work. In addition, the digital revolution has a direct impact on agricultural production income. This study highlights the importance of the digital revolution in reducing information costs, as it helps broaden channels for farmers to increase income and achieving inclusive regional growth. • This paper finds that digital revolution has a significant effect on rural family income in China. • The digital revolution has a greater effect on low-income families. • The digital revolution can promote regional inclusive growth. • The reallocation effect of the job creation and the increasing efficiency of agricultural production play a role part in it. • My results provide a theoretical basis for developing countries to promote the construction of new infrastructure. [ABSTRACT FROM AUTHOR]

• This paper explores the association between income and stated views on minimum living standards. • Data from a large nationally representative survey reveal the rich deem fewer items to be essential. • At baseline, the bottom of the income distribution reports 10% more items as essential than the top. • Area-level inequality amplifies the negative income gradient; rich are equally uncaring for kids. • Views are stable, formed primarily in childhood, and have strong effects on views during adulthood. This paper explores the association between income and stated views on minimum living standards; that is, views on items and activities that no one in today's society should have to go without. Using data from a large nationally representative survey, we find the rich deem fewer items to be essential. In our baseline model, people at the bottom of the income distribution report 10% more items as essential than do people at the top of the income distribution. The negative relationship between income and recommended minimum living standards is robust to conditioning on a large covariate set, and remains evident when we use alternative measures of economic status, such as wealth and neighborhood advantage. We find that area-level income inequality amplifies the negative income gradient, and that the rich are no more considerate towards children than they are towards adults. We also find that changes in people's views across time are relatively small, and unrelated to major economic life events. An explanation for this stability is that views are formed primarily in childhood. We find that economic status in childhood has strong effects on views during adulthood, but that intergenerational economic mobility is unimportant. [ABSTRACT FROM AUTHOR]

Agriculture is under transformation in sub-Saharan Africa where millions still do not have access to a healthy diet. Policy makers in this region should find ways to accelerate agricultural transformation while increasing access to healthy diets. Optimizing agriculture's public budget stands out as a handy option. By combining a dynamic computable general equilibrium model and a multi-criteria decision-making technique, and applying them in the context of Ethiopia, this paper points to an important trade-off that policy makers should keep in mind. An optimal allocation of agriculture's public budget aimed at increasing agri-food output, creating off-farm jobs and reducing rural poverty, which are agricultural transformation objectives, will help to reduce the cost of a healthy diet, allowing around 2 million more Ethiopians to afford it. This number could even be higher should policy makers allocate the budget optimally aiming at only lowering the cost of a healthy diet, but at the cost of reducing household income and slowing down transformation. [ABSTRACT FROM AUTHOR]

The inpatient medical expenditure data of the elderly typically have semicontinuous characteristics. The main reason is that a fraction of the old people has no hospitalization costs, while the other incurs substantial hospitalization expenses. Therefore, it is difficult to effectively predict the hospitalization expenses of the elderly using the classical linear regression model by ordinary least squares (OLS). To solve the shortcomings of classical linear regression model, this paper attempts to use the logarithmic regression, Tobit, two-part (i.e., binomial-gamma, binomial-inverse Gaussian), and Tweedie models to predict and model the hospitalization medical expenditure of the elderly in China. Based on the Akaike information criterion (AIC), root mean square error (RMSE), and mean absolute percentage error (MAPE) statistical criteria and the Chinese Longitudinal Healthy Longevity Survey (CLHLS) data of 2018, we found that the Tweedie model accurately predicts the rate of no hospitalization expenses. Additionally, we found that age, family income, whether there is insurance, whether there is limited movement, the number of chronic diseases, health status, and residence factors significantly affect the hospitalization expenses of the population of elderly Chinese, which provides a decision-making basis for policy making. [ABSTRACT FROM AUTHOR]

In July 2014, the South Korean government replaced the Basic Elderly Pension, an income support program for the elderly, with a new program called the Basic Pension. This change doubled the maximum benefit to approximately $200 per month. Using a panel data set, this paper estimates the causal effect of this change on the elderly's labor force participation, hours of work, and the cash benefit received from the program. To identify the counterfactual outcomes, I take two approaches: a potential outcome analysis and a structural model analysis. I find that the change in the program did not affect labor supply on the intensive or extensive margins significantly. However, if the benefit were increased to about $1000, the estimated structural model implies a significant reduction in labor supply on both the intensive and extensive margins. [ABSTRACT FROM AUTHOR]

This paper revisits the relation between economic growth and life insurance consumption for a panel of 130 countries in the period between 2003 and 2016. To address endogeneity concerns, we instrument economic growth by the quality of governments' regulations and show that economic growth positively affects different measures of insurance consumption. Additionally, we find that the share of income households spend on life insurance increases as economies become wealthier. Our findings thus support the demand-following and feedback hypotheses, which state that economic growth contributes to insurance sector development. Finally, we provide evidence that these effects are stronger for middle- compared to high-income economies. Consistent with the idea that the marginal propensity to consume is especially large in low-income economies, we cannot find any evidence that economic growth affects insurance consumption in these countries. [ABSTRACT FROM AUTHOR]

The transition to renewable energy is key for sustainable development. Therefore, one of the sustainable development goals (SDG) of United Nations (UN) is to shift towards clean energy. However, in many resource-rich countries several factors can stand as barriers towards the transition process. In this regard, this paper examines the influence of higher oil price, CO 2 emissions, and income on renewable energy consumption in Iran from 1980 to 2019, employing General to Specific (Gets) modeling approach. Estimation results indicated that oil price and CO 2 emissions both have statistically significant and negative impact on renewable energy consumption. The negative influence of higher oil prices on renewable energy consumption may be interpreted as sign of satisfaction coming from higher oil prices, which postpones the transition from traditional energy sources to renewable for Iran. Furthermore, we concluded that income does not have a statistically significant influence on renewable energy use. The paper discusses alternative policies to promote renewable energy consumption. • The effect of higher oil price on renewable energy consumption was studied. • A novel version of General to Specific (Gets) modeling approach was employed. • We found significant, negative impact of oil price on renewable energy use in Iran. • The paper discusses alternative policies for Iran to promote renewable energy use. [ABSTRACT FROM AUTHOR]

While e-shopping may trigger more but shorter trips, i.e., within walkable distances, frequent e-shoppers see private car as more reliable. However, research addressing the interplay between e-shopping and transport mode choice is scarce and mostly focused on urban areas. Against this background, the paper complements current literature by answering the following research question: Is e-shopping behaviour associated with walking to in-store retail instead of using a private car, and what are the differences between urban and rural environments? Germany serves as the spatial laboratory, with the data from the 2017 Mobilität in Deutschland (MiD) survey providing comprehensive insights on mobility and its socio-economic elements. Three logistic regression models are carried out to explore the impact of e-shopping frequency on transport mode choice for three different spatial settings: large agglomerations (≥100,000 inhabitants), urban counties, and rural counties. The results show that people who buy online more frequently in urban and rural counties tend to reach in-store destinations by car instead of walking. On the other hand, the frequency of e-shopping and walking mode choice do not present any association on large urban agglomerations. The socio-economic analysis shows that car owners tend to reach in-store retail by car, while those with higher household incomes are more likely to walk. The paper ends with a discussion of how the results can inform sustainable transport systems to find a balance between online and in-store shopping. [ABSTRACT FROM AUTHOR]

A growing body of literature demonstrates that the accessibility of urban green spaces may differ across ethnic, minority, racial, and socioeconomic groups. In post-socialist Central and Eastern European (CEE) countries, income has become the most critical factor influencing where people may reside in a city, as well as to the extent to which they can access city services. This paper investigates socioeconomic disparities in access to green areas in Budapest, Hungary, taking multiple types of green areas into account, such as urban green spaces (e.g., urban parks and gardens), urban forests, and residential greenery (e.g., private gardens and street trees). People's incomes were considered a proxy measure for socioeconomic status, and the spatial distribution of green areas were analyzed with geographic information system (GIS) tools. The results show that the advantage of wealthier people in terms of urban green space provision is not so pronounced, which is the outcome of a multi-layered historical urban development. However, considering the accessibility of urban forests and residential greenery, high-income people are in a more favorable position than those from other socioeconomic groups. In addition, geography seems to be a crucial constraint for high- and upper-middle income inner-city residents to access urban forests and residential greenery, indicating that factors outside of socioeconomic status influence access to green areas. Future planning policies should attempt to alleviate inequalities in green area provision; however, some inherited and recent issues may jeopardize municipalities' ability to achieve this goal. • This paper investigates socioeconomic disparities in access to green areas in Budapest. • We demonstrated that wealthy people are somewhat privileged in terms of access to green areas. • We found that previous planning regimes have impacted the current spatial patterns of green areas. • Three risk factors were detected that can jeopardize the improvement of urban green space provision. [ABSTRACT FROM AUTHOR]

This paper compares the relative ability of individuals and pairs to solve a finite, stochastic lifecycle problem that requires borrowing and saving to achieve the rational benchmark. We find that pairs significantly outperform individuals, especially when allowing subjects to account for past mistakes along conditionally-optimal consumption paths. Joint decision-makers out-earn individuals by about 23%. Though pairs and individuals both overreact to income and wealth balances, these distortions are twice as large for individuals. Analyzing chat data reveals that pairs bargain to balance idiosyncratic consumption preferences, which reduces consumption errors. We estimate consumption heuristics at the observation level and study their dynamics. We show that about half our subjects (or pairs of subjects) stick to heuristics for the majority of the experiment. These 'stable' subjects significantly outperform their 'unstable' counterparts in the dynamic optimization task. Finally, we provide suggestive evidence that subjects who have a nuanced view of debt outperform subjects who think of debt as always bad, even after controlling for cognitive ability. [ABSTRACT FROM AUTHOR]

This paper assesses the influence of policy-relevant factors for electric vehicle (EV) uptake, while considering the related solar-panel context, using the 2020 Residential Energy Consumption Survey for the U.S. Our results suggest that the link from household income to EV uptake is relatively weak; we find the link from education to EV uptake is stronger. Three policy reforms are suggested based on our analysis of actual household data. If income is used in determining subsidies, then increased targeting of policy support to lower income levels may be warranted. Policymakers may also consider alternative approaches, rather than relying on income thresholds. Policy bundling is also suggested, where households can use subsidies for their chosen energy investment, rather than separate schemes for solar panels and EVs. This flexible approach could be appropriate for renters, who were less likely to have at least one of an EV or solar panels by up to 3.5 percentage points. • Electric vehicle (EV) uptake is studied with actual U.S. household data. • The positive impact of income on EV uptake is affected by modelling choices. • Education has a more robust influence than income for EV uptake. • Policy alternatives to high income thresholds can include targeting based on education. • Pooling support from multiple energy policies could address lower EV uptake by renters. [ABSTRACT FROM AUTHOR]

The value of travel time savings (VTTS) is an important concept used in cost-benefit analyses for project appraisals and demand modelling in the transport sector. The relationship between the VTTS and income is particularly important since it underpins how official VTTS recommendations are uplifted over time as incomes grow. The income elasticity of VTTS has been investigated in many empirical studies, exhibiting considerable variation across them. Notably, repeat studies tend to find the lowest implied income effects and meta-analyses the largest income elasticities, with those obtained from cross-sectional inter-personal comparisons somewhere between. This paper aims to explain the VTTS variation in terms of an individual's or household's income level by using the meta-analysis technique. The analysis covers 268 income elasticities of the VTTS extracted from 49 studies conducted from 1968 to 2019 in countries across the globe. The meta-analysis method determines the factors that influence these income elasticity variations. The results of the meta-model highlight that the variation of the income elasticity is explained by several factors, including income levels, the transport mode, personal or household income, inter-temporal or cross-sectional elasticity, journey purpose and year of the survey, shedding light on how the VTTS income elasticity varies across different sources. • A review of income elasticity of the value of travel time savings (VTTS) in passenger transport. • Application of meta-analysis techniques by using different models that account for variation. • Examines a substantial number of explanatory variables to explain the variation. • Effects of income levels, transport mode, journey purpose and other factors are illustrated in the meta-model. • Implied income elasticity for a range of scenarios from the meta-model. [ABSTRACT FROM AUTHOR]

Urban green spaces in the city of Niamey are under the threat of rapid urbanization in the context of climate change. The urban green space management becomes paramount and solicits the stakeholders' participation. Therefore, this study aims to analyze the determinants of the urban green space management practiced by the dwellers in Niamey City. Based on the questionnaire, the multinomial logistic model was applied to the primary data collected from close to 390 randomly selected households. The results show that the variables shade from urban green spaces, gender, household size, education level, monthly income, work status, length of time living in the districts, the status of peripheral areas, status of transitional areas, cost of the management, and plant market are the determinants of the urban green space management practices. These results give a signal to urban managers, and decision-makers on the factors to be addressed for better delivering urban green spaces likely to enhance urban climate resilience. • This paper analyze the determinants of urban green space management practices in the City of Niamey as insight of West African cities, • This paper applied the econometrical modeling namely multinomial logistic model as tool to estimate the determinants of the urban green space management practices; • The analysis shown that the urban green spaces benefits especially shade, gender, household size, education level, monthly income, length of time living in the districts, status of peripheral areas, and plant market are the main drivers of the urban green space management practices in the city of Niamey; • This paper calls for the city authorities to establish and implement a program that facilitates the dwellers' access to plants for their private green that can enhance their climate resilience. [ABSTRACT FROM AUTHOR]

It is a controversial question of whether environmental regulation can achieve the double dividend of improving environmental quality and increasing employment and income. This paper takes Chinese migrant population as the main research object and uses the Chinese Household Income Projects data (CHIPS) and the emission data of major pollutants at the prefecture-level city jointly. Based on the classic Mincer wage equation, we investigate the impact and mechanisms of environmental regulation on the income of Chinese migrant population. The results show that: (1) The intensity of environmental regulation significantly improves the income level of the migrant population, and for every 1% increase in the intensity of environmental regulation, the wage income of the mobile population will rise by 4.96%. (2) The documented positive effect of environmental regulation is more significant in non-public firms, the eastern regions and high-skilled workers. Conversely, for the female and elderly group, 1% increase in environmental regulations will restrain their income growth by 4.95% and 0.37%, respectively. (3) The influencing mechanisms include both the direct effect of labor demand and the indirect effects of firm performance and technological innovation. (4) we find that 1% increase in environmental regulations respectively raise the income of the low- and moderate-income migrant population by 10.834% and 3.579%, while having no significant impact on the high-income group, thus reducing the income gap of the migrant population. The findings of this paper provide theoretical support and practical evidence for achieving a coordinated development of ecological environmental protection and income improvement for socially disadvantaged groups in China. [ABSTRACT FROM AUTHOR]

The Irish residential property market is currently characterized by a considerable structural deficiency in housing supply compared to the underlying level of demand. The lack of housing has led to several economic and social problems in Ireland. The imbalance between supply and demand has led to both house prices and rents increasing faster than household incomes. Recent policy initiatives by the Irish Government have outlined plans for significant spending aimed at increasing the numbers of housing completions to tackle these issues. This paper examines the impact of government spending on housing supply using a structural econometric model of the Irish economy with a specific construction block. Within our econometric analysis, we compare the results of an economy wide versus a sector specific government stimulus on the property market. Our simulations suggest that, in order to achieve social and economic goals like increasing the number of dwellings and making housing more affordable by containing house price inflation, a targeted policy such as that described in the Irish Government's Housing for All plan may be preferable to an economy-wide stimulus. [ABSTRACT FROM AUTHOR]

The Cancer Intervention and Surveillance Modeling Network (CISNET) Lung Working Group age-period-cohort methodology to study smoking patterns can be applied to tackle important issues in tobacco control and public health. This paper summarizes the analyses of smoking patterns in the U.S. by race/ethnicity, educational attainment, and family income and for each of the 50 U.S. states using the CISNET Lung Working Group age-period-cohort approach. We describe how decision makers, policy advocates, and researchers can use the sociodemographic analyses in this supplement to project state smoking trends and develop effective state-level tobacco control strategies. The all-cause mortality RR estimates associated with smoking for U.S. race/ethnicity and education groups are also discussed in the context of research that measures and evaluates health disparities. Finally, the application of the CISNET Lung Working Group age-period-cohort methodology to Brazil is reviewed with a view to how the same types of analyses can be applied to other low- and middle-income countries. [ABSTRACT FROM AUTHOR]

The novel coronavirus (COVID-19) pandemic created an environment where nearly all aspects of mobility changed to ensure the health and safety of the public. The Centers for Disease Control and Prevention (CDC) recommended that people quarantine for 14 days if they were potentially exposed to the virus, stay at least six feet apart from others, and stay at home as much as possible. Delivery via third-party restaurant app, grocery, and package delivery quickly became an essential service. This study assesses customer's changes in use and perceived quality of delivery services in Southwest Virginia, via an online stated-preference survey (n = 423). The responses were analyzed using ordered logit and generalized ordered logit models to identify which population segments had changing delivery behavior and perceptions due to the pandemic. Findings include that before the pandemic, only households with an income greater than $100,000 had a significantly higher demand for package delivery services than those making less than $25,000. During the pandemic, all income brackets had a significantly higher demand for package delivery "weekly" than households with less than a $25,000 income, with a 19.50%, 22.54%, and 45.59% greater chance of use for income levels $25,000 to $50,000, $50,000 to $100,000, and over $100,000, respectively. This trend highlights that package delivery became necessary during the pandemic. Respondents who lived within town limits were statistically significantly more likely to use third-party restaurant delivery apps at least once a week before (3.10%), during (9.20%), and after (4.50%) the pandemic compared to those outside town limits. The results also found people who lived within town limits were 7.77% more likely to be satisfied with delivery services in general than those who lived outside town limits. The findings from this paper identify expanding delivery equity gaps within the population and provide recommendations for policymakers and delivery agencies. Some limitations include that low sample size did not allow for fully segmented models and meant that the study should be considered exploratory in nature. • A stated preference survey about delivery preferences and use is conducted. • The study evaluates how the COVID-19 pandemic changed delivery habits. • There is a predicted rise in food, grocery, and package delivery use post-pandemic. • The study reveals an inequity in delivery service access. [ABSTRACT FROM AUTHOR]

Countries have invested in transport infrastructure and public service in recent years to reduce rural poverty and income inequality. However, the effects of transport infrastructure on the residents with economic and educational disadvantages in rural areas are still under debate. In this paper, we investigate the impact of road infrastructure on the income of rural residents at the municipal level using data from the China Family Panel Survey (CFPS) from 2010 to 2018. By using the instrumental variable regression model, we found that rural residents' household incomes benefit from road infrastructure. Within income components, road infrastructure plays a role in improving rural residents' wage and business income. Further comparing different rural resident groups, we found that rural residents with lower initial farming and business income benefit more from improved road infrastructure in terms of their farming and business income from 2010 to 2018. In addition, in poverty-stricken areas, rural residents with lower initial farming and business income benefit more from road infrastructure in improving their farming and business income. However, the household incomes of rural residents with low formal education improve less as a result of road infrastructure. Policymakers should thus consider combining transport infrastructure provision with other policy packages, such as education program or skill training, to target different groups of rural residents in China. • Explaining the relationship between road infrastructure and rural residents' income. • Rural residents with lower initial farming and business income benefit more from improved road infrastructure. • In poverty-stricken areas, rural residents with lower initial farming and business income benefit more from road infrastructure. [ABSTRACT FROM AUTHOR]

This paper examines the neighbourhood-level spatial determinants of residential solar photovoltaic (PV) adoption in the Netherlands. We investigate the roles of place-specificities and spatial interaction effects by utilising high-resolution spatial data on 13,205 Dutch neighbourhoods. Unlike other studies, we use impact measures on the basis of a spatial Durbin model to distinguish between direct and indirect effects of the spatial determinants. We find significant neighbourhood-level spatial interaction effects in residential solar PV adoption. Where there is a spatial dependence, household income, property value, population density, housing type and household type are among the factors that influence residential solar PV adoption. • Spatial factors that influence residential solar photovoltaic (PV) adoption are identified. • Spatial econometric models are applied using high-resolution spatial data on 13,205 Dutch neighbourhoods. • Direct and indirect effects of the spatial determinants are distinguished. • Significant spatial interaction effects are identified. • Neighbourhood-level spatial differences influence solar PV adoption. [ABSTRACT FROM AUTHOR]

• When the decision maker (DM) chooses a group of low income, the relative income hypothesis supposes only positive utility outcome. • The paper argues that the DM experiences also a countervailing negative utility, called the "aspirational income effect". • The countervailing effect is the result of aspiration, the desire to be associated with a high income group. • The paper runs an experiment that confirms the aspirational income effect, which cannot be explained by expected income. • The experiment shows that the aspirational income effect is much stronger than the much-touted relative income effect. According to the "relative income hypothesis," decision makers derive positive utility from identifying with a group that performs more poorly than they do. We hypothesize that decision makers simultaneously derive negative utility from identifying with such a group. The reason is that decision makers aspire toward status, and thus prefer to identify with a group that is more successful than they are. We call such proposed reason the "aspirational income hypothesis." If the aspirational income effect dominates the relative income effect, decision makers would prefer to join groups with higher rank than their own. We report data from an experiment that supports the aspirational income hypothesis. It shows that the hypothesis holds (at a weaker intensity) even when it is costly to join a higher ranking group. [ABSTRACT FROM AUTHOR]

The quest for status is a powerful motivator, but does it affect inequality? This paper presents a novel lab experiment that was designed and conducted to identify the relationship between conspicuous consumption, access to credit, and inequality. We report four main findings: First, consumption increases when it is "conspicuous" (i.e., is both observable and signaling ability). Second, costly borrowing increases when consumption is conspicuous. Third, the increase in costly borrowing is driven by those at lower income levels. Finally, in the presence of conspicuous consumption, access to credit exacerbates inequality. [ABSTRACT FROM AUTHOR]

To describe the quality of food and physical activity (PA) environments by World Bank Income level in jurisdictions from the Children's Healthy Living Program. Baseline cross-sectional community data were analyzed from 11 jurisdictions categorized by World Bank Income levels to describe exposure to different food and PA outlets. The Children's Healthy Living Program was a multilevel, multijurisdictional prevalence study and community intervention trial that reduced child obesity in the US-Affiliated Pacific region. US-Affiliated Pacific region. Food (n = 426) and PA (n = 552) Outlets. Physical activity and food scores that reflect the quality of the outlets that support being physically active and healthy eating options, respectively. Descriptive statistics are presented as means ± SD or percentages. High-income-income level jurisdictions had higher food and PA scores than middle-income level jurisdictions. The US-Affiliated Pacific region has limited quality food and PA outlets in underserved communities at risk for obesity. The findings in this paper can be used to develop tools and design interventions to improve the food and PA environment to increase a healthier, active lifestyle. [ABSTRACT FROM AUTHOR]

This paper examines the relationship between locus of control (LOC) and the demand for supplementary health insurance (SUPP). Drawing on longitudinal data from Germany, we document robust evidence that individuals internal LOC increases the take up of supplementary private health insurance (SUPP). We find that the effect of one standard deviation increase in the measure of internal LOC on the probability of SUPP purchase is equivalent to a 14 percent increase in household income. Second, we find that the positive association between self-reported health and SUPP becomes small and insignificant when we control for LOC. These results suggest that LOC might be an unobserved individual trait that can partly explain previously documented evidence of advantageous selection into SUPP. Third, we find comparable results using data from Australia, which enhances the external validity of our results. [ABSTRACT FROM AUTHOR]

This paper examines the impact of digital inclusive finance (DIF) on the subsistence consumption of rural households in China. We find that rural residents in areas with well-developed DIF tend to have greater subsistence consumption. Channel analyses show that such tendencies can be explained by the income growth effect and vulnerability mitigation effect associated with DIF. The income growth effect occurs as the development of DIF promotes rural residents' income. Income growth is stimulated via improved entrepreneurship to earn operational income or inducing rural-to-urban migration to earn wage income. Meanwhile, the observed vulnerability mitigation effect suggests that DIF could reduce rural residents' future income uncertainty by alleviating the impact of exogenous shocks. Furthermore, we apply Lasso algorithms to predict expected consumption, and find that the development of DIF is associated with a higher probability for overconsumption in rural households. Such side effect occur mainly among individuals with weak time preferences. We conclude that, the development of DIF has merits, because doing so is beneficial to increasing rural residents' economic resilience and building an inclusive, sustainable and prosperous society in the post-COVID-19 era. • We examine the impact of DIF on rural household subsistence consumption in China. • Income growth effect and vulnerability mitigation effect are possible channels. • We offer evidence that DIF is associated with rural households' overconsumption. • Household's overconsumption mainly occurs among those with weak time preference. [ABSTRACT FROM AUTHOR]

This paper examines the link between political support for basic income funded by linear income taxation and income inequality by household and gender. We develop a model with an increasingly right-skewed distribution of skill across households and a gender wage gap within households. Household preference for basic income decreases as skill level increases and female labour supply decreases with time spent rearing children. Majority voting supports the basic income scheme as mean relative to median household skill increases. Household fertility and skill level are inversely related under the scheme. An increase in the marginal tax rate to fund required government revenue could exacerbate gender inequality by reducing female labour supply. Quantitative illustrations suggest that the recent peak in the mean to median wage gap would provide voting support for basic income from the majority of households in the United States. Basic income of $12,000 conditional on below-median wages would increase government spending by 10.8% which, if funded by progressive income taxation, could reduce the adverse effects on gender inequality. [ABSTRACT FROM AUTHOR]

This paper estimates electricity consumption and subsidies for each of the Mexican households surveyed in the ENCEVI and the ENIGH in 2018. Using information from the Mexican Utility Federal Electricity Commission (CFE, Comisión Federal de Electricidad), we expand these two datasets into a comprehensive source of electricity consumption for 100,000 households representative of all of Mexico. Our estimates show that large consumers receive large subsidies, with the top 20 % of the highest consuming households receiving 50 % of the subsidies. We also find that electricity consumption is determined by socio-economic status. In the extremely hot region, families in the highest income decile consume 57 %–66 % more than those in the lowest. For this reason, Mexicans in the highest income brackets benefit the most from subsidies; the average subsidy per household for those in the two highest income brackets is almost twice the average subsidy for those in the lowest bracket. • A comprehensive dataset with estimates of electricity consumption and subsidies in the Mexican residential sector was created • The residential electricity consumption in Mexico varies significantly by climatic region, socioeconomic status, and season. • Without subsidies, the electricity burden of households in the lowest income deciles would increase approximately 2.2 times. • Almost forty cents of every dollar spent on electricity subsidies is allocated to households with the highest income quintile. [ABSTRACT FROM AUTHOR]

• The present paper develops an innovative methodology to analyze the distributional changes in the US in the last decades using ASEC-CPS data. • The paper documents how the distributional changes hollowed out the middle of the American household income distribution and increased the polarization. • We define the polarization as the combination of divergence from global and convergence on mean local incomes. The method used is the Relative distribution one (Handcock and Morris, 1998 , 1999). • The last 2 decades long decline of the American Middle Class is a trend that probably started during the Reagonomics period (1981–1989). • Decomposing the residual effect by covariates we assert that while the increasing number of non-white or female HHs increased the polarization, the opposite (i.e. a decrease in polarization) occurs in the case of increasing the degree of education of the HHs. With increasing income inequality in the US over the last few decades, what has happened to the middle class? The aggregate inequality indexes don't answer this question. We employ Relative Distribution tools and use the ASEC-CPS dataset in order to provide an analysis of the US income distribution and trace the impact of inequality on the middle class. We observe confirming the Pew study of 2016a typical polarization profile has emerged during 1998–2018 with a shift of many middle class families towards the lower end of income distribution. The hypothesis of the hollowing out of the middle class in the US starting with the age of Reaganomics is also confirmed. We also find some preliminary evidence for intersectionality , i.e. race, class and gender working together in a vicious cycle for the disadvantaged. Policies to counteract these tendencies must be anti-polarization policies along with those of relatively more egalitarian growth. [ABSTRACT FROM AUTHOR]

• Argues for a psychosocial geography of austerity. • Offers a rich account of austerity for low-to-middle income families in the UK. • Interrogates the category of the 'squeezed middle'. • Documents the manifestation of austerity in the intimate spaces of family life. • Concludes that austerity is felt and negotiated psychosocially. This paper seeks to explore the experiences of recession and austerity in a small number of low-to-middle income households in North Tyneside. To try to make sense of the diverse and intimate ways that austerity is thought about, felt, related to, engaged with, and contested, the paper connects a psychosocial perspective to a focus on everyday social geographies and insists on the relation between the psychic and the social. It starts by exploring the coordinates of a psychosocial geography, outlining and building on the growing work in psychosocial studies and connecting this to an explicitly geographical perspective. It then sets out the focus of this particular study – low-to-middle income families in North Tyneside – placing them in the narrative context of the squeezed middle, both sketching the demographic outlines of this cohort and interpreting the squeezed middle as a psychosocial category. At this stage, it also describes and reflects on the research process, one designed to access the psychosocial dimensions of living with austerity. The focus then shifts to narrating and exploring the researched households experiences of austerity, framing them through a focus on 'big things' and 'little things', following the language and sense-making of my participants, and at every stage engaging with the psychosocial aspects of these experiences, attachments, values, practices, spaces, senses and times that need to be understood by holding together the psychic and the social. These experiences are drawn together in a discussion section which attempts to map the psychosocial landscapes of austerity and which concludes by making connections to wider psychosocial framings that signpost further explorations. [ABSTRACT FROM AUTHOR]

This paper adopts a dynamic general nesting spatial panel data model with common factors to explore the effect of population density, real household income per capita, car fleet per capita, and real price of gasoline on departmental traffic per light vehicle in France over the period 1990–2009. Spatial heterogeneity is modeled by a translog function in the first three explanatory variables, which are dominated by variation in the cross-sectional domain, while the real price of gasoline, which is dominated by variation in the time domain, is treated as an observable common factor. Additional unobservable common factors are controlled for by principal components with heterogenous coefficients, building on previous work of Shi and Lee (2017a), thereby, generalizing the dynamic spatial panel data model with spatial and time period fixed applied in recent studies. It is found that the spatial lag in the dependent variable becomes insignificant due to these extensions. This paper explains the wider implications of this finding for spatial econometric modeling of cross-sectional dependence. In addition, the elasticities of the first three explanatory variables are shown to vary across space and time and to follow a plausible structure. Among other, an important result is that the long run income elasticity of car traffic diminished from 1.0 in 1990 to 0.4 in 2003, and then remained almost constant until the end of our sample period in 2009, i.e., during the peak-car traffic period. [ABSTRACT FROM AUTHOR]

This paper investigates the empirical relationship between household wealth composition and income inequality in the USA, proxied by households' relative position in the income distribution. Previous research highlights wealth–income interactions as an important driver of inequality, but less is known about whether wealth composition is conducive to sustained improvements in relative income across households. Using non-parametric median slope analysis on the U.S. Survey of Consumer Finances between, 1989-, 2013 , the paper examines patterns of empirical regularities between wealth composition and relative income, finding significant differences over time and between income, gender, racial, and intergenerational groups. Households holding more wealth in other property, business equity, financial investment, retirement and insurance assets, and secured debt are found to occupy higher position in the income distribution compared to households whose wealth is dominated by main residence. However, these positive effects are not experienced equally as they are found to be significantly lower for households in the poorest 20% of the income distribution and for female, Black/Latino, and millennial households. [ABSTRACT FROM AUTHOR]