Driving a car enables many people to engage in meaningful activities that, in turn, help develop and maintain personal social capital. Social capital, a combination of community participation and social cohesion, is important in maintaining well-being. This paper argues that social capital can provide a framework for investigating the general role of transportation and driving a car specificall...

We present an overlapping generations model in which aspirational agents face uncertainty about the returns to human capital investment. This uncertainty implies the prospect that aspirations will not be ful…lled, the probability of which is greater the lower is the human capital endowment of an agent. We show that agents with su¢ ciently low human capital endowments may experience such a stron...

Five patients with concomitant endocrinopathy and slipped capital femoral epiphysis were studied in detail. One had diabetes and hypothyroidism, one had hypothyroidism, one had hypergonadotropic hypogonadism and two had a craniopharyngioma (one of whom had severe panhypopituitarism post-operatively). An additional seven patients with cranio-pharyngioma revealed marked delay in closure of epiphy...

he increased prominence of trading activities at many large banking companies has highlighted bank exposure to market risk—the risk of loss from adverse movements in financial market rates and prices. Recognizing the importance of trading operations, banks have sought ways to measure and to manage the associated risks. At the same time, bank supervisors in the United States and abroad have take...

Motivation. The new solvency regimes now emerging, insist that capital requirements align with the underlying (insurance) risks. This paper explains how a stochastic model built on basic assumptions is used to monitor insurance risk in order to get a clear insight in the aligned economic capital including prudence margins for loss reserves. Method. The incurred loss of an insurer consists of pa...

This paper applies a two good, multi-region Ramsey-Solow model to determine the impact of future demographic change on international living standards and the optimal rate of national saving. Notable features of the model include: an outward looking model of utility, a premium in the interest rate for capital importing regions, an exchange rate expressed as the relative price of traded and non-t...

User retention could significantly affect the results of web-based health interventions, e.g. weight loss. Past research reported that social ties could have positive influence on retention in weight loss program. However, in this study, it is proposed that social capital could be the reason underlying the effects of social ties on retention and health outcomes in web-based health interventions...

A formula for the conditional value-at-risk of classical portfolio insurance is derived and shown to be constant for sufficiently small loss probabilities. As illustrations, we discuss portfolio insurance for an equity market index using empirical data, and analyze the more general multivariate situation of a portfolio of risky assets. 1. Introduction. Portfolio insurance, introduced by Leland ...

In order for China to play a bigger, more positive role in the world, it is important for China to have a healthy capital market. This perception motivates us to examine the health of China's capital market, especially the severity of the overall loss of the listed companies in China and the effects of accounting irregularities on the losses. We show the overall loss of the listed companies was...

T he pre-commitment approach to bank capital regulation is a radical departure from existing bank regulatory methods. First proposed in Kupiec and O’Brien (1995c), the approach advocates letting banks choose their capital levels and fining them if losses exceed this level. The essence of the proposal is to use fines (or other penalties) to encourage risky banks to hold more capital than safer o...