Measure Of Wealth Research Articles

Exploring how urban design has sought to inspire confidence and longevity in Western Australia’s Pilbara region

In the late nineteenth and early twentieth centuries, architecture in mining settlements often acted as a measure of wealth, as if to arouse confidence and longevity in places with an infamously brief lifespan. Arguably, recent planning for upgraded town centres in the Pilbara region of Western Australia has similarly employed urban form to provide reassurance to current and potential future residents of these settlements. Using Karratha, the largest urban centre in the Pilbara, as a case study, this paper explores the ways in which urban form has been used to further a narrative of longevity through references to traditional cities characterized by urban density, spatial delineation and economic diversification. While only six years has elapsed since the launch of a plan to guide Karratha’s transformation from a town into a city, the current mining downturn highlights the limits of urban design interventions in relation to broader issues facing the mining industry. The paper concludes by pointing to the implications of such urban design efforts for the development of cities in Northern Australia.

The impact of health insurance on cancer care in disadvantaged communities.

Individuals from disadvantaged communities are among the millions of uninsured Americans gaining insurance under the Affordable Care Act. The extent to which health insurance can mitigate the effects of the social determinants of health on cancer care is unknown. This study linked the Surveillance, Epidemiology, and End Results registries to US Census data to study patients diagnosed with the 4 leading causes of cancer deaths between 2007 and 2011. A county-level social determinant score was developed with 5 measures of wealth, education, and employment. Patients were stratified into quintiles, with the lowest quintile representing the most disadvantaged communities. Logistic regression and Cox proportional hazards models were used to estimate associations and cancer-specific survival. A total of 364,507 patients aged 18 to 64 years were identified (134,105 with breast cancer, 106,914 with prostate cancer, 62,606 with lung cancer, and 60,882 with colorectal cancer). Overall, patients from the most disadvantaged communities (median household income, $42,885; patients below the poverty level, 22%; patients completing college, 17%) were more likely to present with distant disease (odds ratio, 1.6; P < .001) and were less likely to receive cancer-directed surgery (odds ratio, 0.8; P < .001) than the least disadvantaged communities (median income, $78,249; patients below the poverty level, 9%; patients completing college, 42%). The differences persisted across quintiles regardless of the insurance status. The effect of having insurance on cancer-specific survival was more pronounced in disadvantaged communities (relative benefit at 3 years, 40% vs 31%). However, it did not fully mitigate the effect of social determinants on mortality (hazard ratio, 0.75 vs 0.68; P < .001). Cancer patients from disadvantaged communities benefit most from health insurance, and there is a reduction in disparities in outcome. However, the gap produced by social determinants of health cannot be bridged by insurance alone. Cancer 2017;123:1219-1227. © 2016 American Cancer Society.

Control thyself: Self-control failure and household wealth

We examine the relationship between household wealth and self-control. Although self-control has been linked to consumption and financial behavior, its measurement remains an open issue. We employ a definition of self-control failure that follows literature in psychology, suggesting that three factors can render self-control defective: lack of planning, lack of monitoring, and lack of commitment to pre-set plans. Our measure combines those three ingredients and can be computed using a standard representative survey. We find that self-control failure is strongly associated with different household net wealth measures and with self-assessed financial distress.

The Reproductive Ecology of Industrial Societies, Part II : The Association between Wealth and Fertility.

Studies of the association between wealth and fertility in industrial populations have a rich history in the evolutionary literature, and they have been used to argue both for and against a behavioral ecological approach to explaining human variability. We consider that there are strong arguments in favor of measuring fertility (and proxies thereof) in industrial populations, not least because of the wide availability of large-scale secondary databases. Such data sources bring challenges as well as advantages, however. The purpose of this article is to illustrate these by examining the association between wealth and reproductive success in the United States, using the National Longitudinal Study of Youth 1979. We conduct a broad-based exploratory analysis of the relationship between wealth and fertility, employing both cross-sectional and longitudinal approaches, and multiple measures of both wealth (income and net worth) and fertility (lifetime reproductive success and transitions to first, second and third births). We highlight the kinds of decisions that have to be made regarding sample selection, along with the selection and construction of explanatory variables and control measures. Based on our analyses, we find a positive effect of both income and net worth on fertility for men, which is more pronounced for white men and for transitions to first and second births. Income tends to have a negative effect on fertility for women, while net worth is more likely to positively predict fertility. Different reproductive strategies among different groups within the same population highlight the complexity of the reproductive ecology of industrial societies. These results differ in a number of respects from other analyses using the same database. We suggest this reflects the impossibility of producing a definitive analysis, rather than a failure to identify the “correct” analytical strategy. Finally, we discuss how these findings inform us about (mal)adaptive decision-making.Electronic supplementary materialThe online version of this article (doi:10.1007/s12110-016-9272-9) contains supplementary material, which is available to authorized users.

Argentina – Measures Relating to Trade in Goods and Services (Argentina–Financial Services), DS453

This dispute concerned eight financial, taxation, foreign exchange, and registration measures imposed by Argentina, mostly on services and service suppliers from countries that do not exchange information with Argentina for the purposes of fiscal transparency (non-cooperative countries). In particular, these measures concerned: withholding tax on payments of interest or remuneration (measure 1); presumption of unjustified increase in wealth (measure 2); transaction valuation based on transfer prices (measure 3); payment received rule for the allocation of expenditure (measure 4); requirements relating to reinsurance services (measure 5); requirements for access to the Argentine capital market (measure 6); requirements for the registration of branches (measure 7); and foreign exchange authorization requirement (measure 8).

The income elasticity of Willingness-To-Pay (WTP) revisited: A meta-analysis of studies for restoring Good Ecological Status (GES) of water bodies under the Water Framework Directive (WFD)

The income elasticity of Willingness-To-Pay (WTP) is ambiguous and results from meta-analyses are disparate. This may be because the environmental good or service to be valued is very broadly defined or because the income measured in individual studies suffers from extensive non-reporting or miss reporting. The present study carries out a meta-analysis of WTP to restore Good Ecological Status (GES) under the Water Framework Directive (WFD). This environmental service is narrowly defined and its aims and objectives are commonly understood among the members of the scientific community. Besides income reported by the individual studies, wealth and income indicators collected by Eurostat for the geographic entities covered by the individual studies are used. Meta-regression analyses show that income is statistically significant, explains a substantial proportion of WTP variability and its elasticity is considerable in magnitude ranging from 0.6 to almost 1.7. Results are robust to variations in the sample of the individual studies participating in the meta-analysis, the econometric approach and the function form of the meta-regression. The choice of wealth or income measure is not that important as it is whether this measure is Purchasing Power Parity (PPP) adjusted among the individual studies.

Intracluster Correlation Coefficients of Household Economic and Agricultural Outcomes in Mozambique.

This article offers important statistics to evaluators planning future evaluations in southeast Africa. There are little to no published statistics describing the variance of southeast African agricultural and household indicators. We seek to publish the standard deviations, intracluster correlation coefficients (ICCs), and R2s from outcomes and covariates used in a 2014 quasi-experimental evaluation of the Millennium Challenge Corporation's Mozambique Farmer Income Support Project (FISP) and thus guide researchers in their calculation of design effects relevant to future evaluations in the region. We summarize data from a roughly 168-item farmer survey conducted in 1,227 households during June-July 2014 in coconut-farming regions of the Zambezia province in Mozambique. We report descriptive statistics, estimates of ICC, and R2s obtained from linear regression models with cluster random effects. We consider three different cluster definitions. We report ICCs for a range of different specifications. For the FISP evaluation, the average design effect for education outcomes is 1.16. Average design effects for wealth measures based on consumption are 1.23. For agricultural-related outcomes, 1.05 is the average design effects for income measures, 1.47 for knowledge, and 1.64 for sales of specific crops. We offer a detailed picture of the variance structure of agricultural and other outcomes in Mozambique. Our results indicate that the design effect associated with these outcomes is less than the rule-of-thumb design effect (2.0) used in nutrition studies which are commonly cited in the studies of this region.

Cheaper, faster, and more than good enough : is GPS the new gold standard in land area measurement ?

In rural societies of low- and middle-income countries, land is a major measure of wealth, a critical input in agricultural production, and a key variable for assessing agricultural performance and productivity. In the absence of cadastral information to refer to, measures of land plots have historically been taken with one of two approaches: traversing (accurate, but cumbersome), and farmers' self-report (cheap, but marred by measurement error). Recently, the advent of cheap handheld GPS devices has held promise for balancing cost and precision. Guided by purposely collected primary data from Ethiopia, Nigeria, and Tanzania (Zanzibar), and with consideration for practical household survey implementation, the paper assesses the nature and magnitude of measurement error under different measurement methods and proposes a set of recommendations for plot area measurement. The results largely point to the support of GPS measurement, with simultaneous collection of farmer self-reported areas.

Measuring Poverty for Food Security Analysis: Consumption- Versus Asset-Based Approaches.

Poverty and food insecurity are intrinsically linked as poor households often lack the resources required to access sufficient nutritious food to live an active and healthy life. Consumption and expenditure surveys are typically used to identify poor versus nonpoor households but are detailed and costly. Measures of wealth based on asset ownership and housing characteristics can be generated from lighter, less costly surveys. To examine whether indices based on asset ownership and housing characteristics (stock) complement household consumption (flow) when used to analyze inequalities in food security outcomes. Comprehensive data from Nepal, Malawi, Tanzania, Uganda, and Madagascar are used to examine correlations and overlaps in classification between indices of household wealth and consumption per capita. Inequality in food security indicators representing quantity, quality, and vulnerability is examined across wealth and consumption per capita quintiles. Wealth indices are correlated with consumption per capita, with coefficients between 0.5 and 0.6. The prevalence of food insecurity decreases from poorer to wealthier quintiles for all variables and for all food security measures in all countries. Energy deficiency varies much more across consumption quintiles than wealth index quintiles. Interestingly, inequalities in the share of consumption of food are more pronounced across the wealth index quintiles than per capita consumption. Although wealth indices and consumption per capita are related and both are drivers of food security, they cannot be used interchangeably for food security analysis. Each inequality measure is important for describing different aspects of food security.

Wealth fluctuations and investment in risky assets: The UK micro evidence on households asset allocation

This paper is the first to examine whether UK households exhibit constant or time-varying relative risk aversion within a microdata panel framework. We analyse whether portfolio allocations in risky assets change in response to fluctuations in wealth. Our set of controls for background wealth is comprehensive, and include, as a novelty in this type of studies, pension wealth. The inference about the risk profile of British households depends upon the relevant measure of background wealth. We do not find support for decreasing relative risk aversion (DRRA). Constant relative risk aversion (CRRA) prevails for the case of liquid wealth, but for the broadest definitions —those including home equity and pensions— the evidence favours increasing relative risk aversion (IRRA).

A Framework for Description and Measurement of National Scientific Wealth with a Case Study on Iran

A sustainable development in science, innovation, and technology requires a balanced distribution of scientific wealth in sub-country regions. This paper addresses the issue of geographical distribution of scientific wealth and its goal is to offer a framework to describe and measure the share of provinces in national scientific wealth. Our proposed model divides the indicators of scientific wealth into two groups, production and the use of scientific wealth. To evaluate this model, the scientific wealth of Iran was studied using recorded data on IRANDOC databases. Rich, average, and poor provinces were identified and the results showed that 70% of the scientific wealth belongs to 20% of the provinces. The findings can facilitate planning for a sustainable science and technology policy.

Economic Resources and HIV Preventive Behaviors Among School-Enrolled Young Women in Rural South Africa (HPTN 068).

Individual economic resources may have greater influence on school-enrolled young women's sexual decision-making than household wealth measures. However, few studies have investigated the effects of personal income, employment, and other financial assets on young women's sexual behaviors. Using baseline data from the HIV Prevention Trials Network (HPTN) 068 study, we examined the association of ever having sex and adopting sexually-protective practices with individual-level economic resources among school-enrolled women, aged 13-20years (n=2533). Age-adjusted results showed that among all women employment was associated with ever having sex (OR 1.56, 95% CI 1.28-1.90). Among sexually-experienced women, paid work was associated with changes in partner selection practices (OR 2.38, 95% CI 1.58-3.58) and periodic sexual abstinence to avoid HIV (OR 1.71, 95% CI 1.07-2.75). Having money to spend on oneself was associated with reducing the number of sexual partners (OR 1.94, 95% CI 1.08-3.46), discussing HIV testing (OR 2.15, 95% CI 1.13-4.06), and discussing condom use (OR 1.99, 95% CI 1.04-3.80). Having a bank account was associated with condom use (OR 1.49, 95% CI 1.01-2.19). Economic hardship was positively associated with ever having sex, but not with sexually-protective behaviors. Maximizing women's individual economic resources may complement future prevention initiatives.

Neighborhood Socioeconomic Status and Cognitive Function in Late Life.

Neighborhood socioeconomic status (NSES) is associated with cognitive function, independently of individual demographic, health, and socioeconomic characteristics. However, research has been largely cross-sectional, and mechanisms of the association are unknown. In 1992-1993, Cardiovascular Health Study participants (n = 3,595; mean age = 74.8 years; 15.7% black) underwent cognitive testing and magnetic resonance imaging of white matter hyperintensities (WMH), and their addresses were geocoded. NSES was calculated using 1990 US Census data (block groups; 6 measures of wealth, education, and occupation). The Modified Mini-Mental State Examination (3MS) was used to assess general cognition, and the Digit Symbol Substitution Test (DSST) was used to assess speed of processing annually for 6 years. Associations of race-specific NSES tertiles with 3MS, DSST, and WMH were estimated using linear mixed-effects models accounting for geographic clustering, stratified by race, and adjusted for demographic, health, and individual socioeconomic status (education, income, lifetime occupational status) variables. In fully adjusted models, higher NSES was associated with higher 3MS scores in blacks (mean difference between highest and lowest NSES = 2.4 points; P = 0.004) and whites (mean difference = 0.7 points; P = 0.02) at baseline but not with changes in 3MS over time. NSES was marginally associated with DSST and was not associated with WMH. Adjustment for WMH did not attenuate NSES-3MS associations. Associations of NSES with cognition in late adulthood differ by race, are not explained by WMH, and are evident only at baseline.

Prosperity, Sustainability and the Measurement of Wealth

AbstractGross domestic product (GDP) and household income measures provide invaluable metrics of economic activity in an economy, but they tell us little about the sustainability of the economic trends. National wealth accounting can be utilised to determine the size of the underlying productive base, which provides insight into the sustainability of economic activities and indicates the potential for intergenerational well‐being. An empirical methodology was developed to measure wealth and then used to analyse multiple Asian countries. A common theme found across the Asian countries was the depletion of natural capital (forests, minerals and energy) and the development of human and produced capital. A strong correlation between growth in GDP per capita and wealth per capita was also found, but there are instances of GDP growth and wealth growth having different signs.

Improved Wealth Measures in the Health and Retirement Study: Asset Reconciliation and Cross-Wave Imputation

Presents improved wealth measures for the Health and Retirement Study (HRS), which aim to reduce the effect of observation error on wealth levels and changes in wealth.

Conflict and Identity in Valgrisenche

Although Valgrisenche, a side valley of the Aosta Valley, is considered to be a poor and isolated valley consisting of stones and rocks, its inhabitants are widely known to have considerable wealth. This contradiction is due to the historical trials and tribulations of the area. In particular, the presence of the Col du Mont, which provided easy passage to Tarentaise, encouraged the development of trade that, during the Middle Ages, granted the valley a measure of wealth. By contrast, numerous conflicts since the 16th century caused the progressive closure of Valgrisenche. The valley became an important military target because of its location, which allowed invaders from France to avoid the bottleneck of the Pierre Taillee that encloses the upper part of the Aosta Valley. This article highlights the times of closure and describes the fortifications that marked the different historical periods. In particular, it demonstrates how the decisions of the War Department, which for 50 years prevented the construction of a motor road, led to a delay in the tourist development of Valgrisenche.

Subjective Well-Being in China: Associations with Absolute, Relative, and Perceived Economic Circumstances

Numerous studies examining the impact of income on subjective well-being (SWB) have found significant positive relationships exhibiting decreasing marginal returns. However, the impact of economic circumstances on SWB is better captured through a combination of income, wealth (per capita net worth), and perceived and relative economic conditions. Using data from the Chinese Household Income Project, I find that within rural and urban China, wealth significantly predicts SWB, exhibiting decreasing marginal returns independent of more common measures of economic circumstances such as income and occupational status. Within urban China, these associations decrease in magnitude and significance with the addition of objective relative measures of wealth and income. Finally, I find that subjective perceptions of relative standard of living are strongly associated with SWB independent of other measures. These results highlight the importance of using multiple objective and subjective measures of economic circumstances, demonstrating potential limitations of studies that have focused exclusively on income as a predictor of well-being. Results are interpreted within the context of China’s changing social and economic structure.

Natural resources and international labour mobility

ABSTRACTWe study the relationship between natural resource wealth and (skilled and unskilled) emigration. The source data for international migration rates come from Brücker, Capuano, and Marfouk (2013) and measures of resource wealth from the World Bank database. We find that natural resource abundance reduces skilled emigration regardless of countries’ natural wealth, but that natural resources reduce unskilled emigration only in resource-rich countries.

Abstract P002: Black-White Differences in the Association of Neighborhood Socioeconomic Status with AHA’s Life’s Simple 7: The REasons for Geographic and Racial Differences in Stroke (REGARDS) Study

Introduction: The AHA’s Life’s Simple 7 (LSS) assesses cardiovascular health. Neighborhood socioeconomic status (N-SES) influences health; however, data are limited on racial differences in the association of N-SES and LSS. Hypothesis: Higher N-SES is associated with better LSS status similarly in whites and blacks. Methods: We studied 9,899 black and white participants aged 45+ without CVD from across the US. The 7 LSS metrics (blood pressure, cholesterol, glucose, BMI, smoking, physical activity, diet) were scored as poor, intermediate or ideal. N-SES was indexed by a composite score of 7 measures of wealth and education. The association of N-SES with both ideal health (vs intermediate or poor) and poor health (vs intermediate or ideal) was assessed adjusting for age and sex, and additional adjustment for individual SES (I-SES as income and education). Results: In whites, higher N-SES was associated with both higher ideal and lower poor status for 4 of the LSS metrics, with the remaining 3 associated with either higher ideal or lower poor status (figure). In blacks, only 1 LSS metric was associated with both higher ideal and lower poor status, 3 associated with either higher ideal or lower poor status, and there was no association in 3 metrics. After adjustment for I-SES, in whites N-SES remained associated with both higher ideal and lower poor status for 3 metrics, either higher ideal or lower poor in 3 metrics, and no association in 1 metric; however, in blacks, only 1 metric was associated with either ideal or poor status, no association for 5 metrics, and 1 metric with higher N-SES was associated with higher poor status. Conclusions: Higher N-SES was strongly associated with better LSS status in whites, even after adjustment for I-SES. However, the association between N-SES with better LSS status was much weaker in blacks, and was largely attenuated with adjustment for I-SES. With regard to LSS, place matters for whites, but plays a much smaller role for blacks.

Lifetime Receipt of Inheritances and the Distribution of Wealth in England

AbstractWe investigate the impact of inheritances and gifts received on the distribution of wealth. Whereas previous work has looked only at marketable wealth, we consider broader measures of wealth including state and private pensions. We find that once pension wealth is included, inheritances and gifts no longer have an equalising impact on the distribution of wealth. Without pension wealth, including wealth transfers reduces the Gini coefficient for wealth from 0.57 to 0.52. With pension wealth, the impact is negligible. We argue that this latter effect gives a better indication of the impact of inheritances on the distribution of lifetime income.