Age effects, unobserved characteristics and hedonic price indexes: The Spanish car market in the 1990s

This paper computes and compares alternative quality-adjusted price indexes for new cars in Spain in the period 1990-2000. The proposed hedonic approach simultaneously controls for time-invariant unobserved product e¤ects and time-variant unobserved quality changes, that are assumed to be captured by model age effects. The results show that the non-adjusted price index largely overstates the increase in the cost of living induced by changes in car prices and that previous evidence for this market have not measured the real extent of that bias, probably due to the omission of controls for unobservables. It is also shown that omitting age effects can also lead to misleading conclusions. The estimated price indexes give also some insights on what could have been the determinants of price evolution in the Spanish car market.

Age effects, unobserved characteristics and hedonic price indexes: The Spanish car market in the 1990's

This paper computes and compares alternative quality-adjusted price indexes for new cars in Spain in the period 1990-2000. The proposed hedonic approach simultaneously controls for time-invariant unobserved product effects and time-variant unobserved quality changes, that are assumed to be captured by model age effects. The results show that the non-adjusted price index largely overstates the increase in the cost of living induced by changes in car prices and that previous evidence for this market have not measured the real extent of that bias, probably due to the omission of controls for unobservables. It is also shown that omitting age effects can also lead to misleading conclusions. The estimated price indexes give also some insights on what could have been the determinants of price evolution in the Spanish car market. JEL classi…fication numbers: C43, E31, L11, L13, Keywords: Hedonic price indexes, Spanish car market, car prices, CPI, Cost of living

Prendre des risques, ça rapporte ? Conduites à risques et perception des risques chez des adolescents tout-venant

Risk taking and its association with substance use by adolescents are often studied among clinical populations. The behavior of non-clinical adolescent samples is less well-known. According to some scholars, the adoption of risk behaviors can be predicted by a function of perceptions of both benefits and risks of such behaviors. However, the literature is still controversial about their respective significance. In this study, a non-clinical sample of 221 adolescents, aged 14 to 20, completed two questionnaires: the RIPS-R to estimate risk taking behaviors as well as perception of the risks and benefits of such behaviors, and the DEP-ADO to measure substance use. Our results show a high annual prevalence of socially accepted risk behaviors (drinking alcohol, not studying for exams, smoking tobacco). However, socially repressed behaviors (brawling, vandalism) are very occasional and are associated with problematic substance use. Globally, engagement in risk behaviors is more closely linked with the perceptions of its benefits than the perception of its risks. Finally, limitations and implications of these results for research and prevention are provided. Les prises de risques et leur association avec la consommation de substances chez les adolescents ont souvent été étudiées auprès de populations cliniques. Le comportement des jeunes tout-venant est en revanche moins bien connu. Selon certains théoriciens, la participation à des conduites à risques peut être déterminée en fonction des perceptions de leurs bénéfices et dangers potentiels. Toutefois, la littérature ne s'accorde pas sur l'importance respective que ces perceptions revêtent. Dans cette étude, 221 adolescents tout-venant, âgés de 14 à 20 ans, ont complété deux questionnaires : le RIPS-R pour évaluer la prise de risques et leur perception en termes de risques et de bénéfices, et la DEP-ADO pour mesurer la consommation de substances. Les résultats mettent en évidence une prévalence annuelle élevée des comportements à risques socialement acceptables (boire de l'alcool, fumer du tabac). En revanche, les comportements réprimés socialement (bagarres, actes de vandalisme) s'avèrent très occasionnels et sont associés à la consommation problématique de substances. Globalement, c'est la perception des bénéfices qui est le plus fortement liée au fait d'adopter un comportement à risque. Finalement, les limites et les implications pratiques de ces résultats sont discutées. © 2010 Elsevier Masson SAS. Tous droits réservés.

Price policies and Price dispersion in the private healthcare insurance industry: The Catalan case

We present an overlapping generations model that explains price dispersion among Catalonian healthcare insurance firms. The model shows that firms with different premium policies can coexist. Furthermore, if interest rates are low, firms that apply equal premium to all insureds can charge higher average prices than insurers that set premiums according to the risk of insured. Economic theory, health insurance, health economics.

Factor shares, the price markup, and the elasticity of substitution between capital and labor.

In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb-Douglas production function and perfect competition. Given the observed decline of the labor share in recent decades, this paper relaxes these assumptions, proposes a time-series calculation of the aggregate price mark-up reflecting the degree of imperfect competition in the product market, and provides estimates of the elasticity of substitution under such product market imperfections. We focus on Spain and the U.S. and show that the elasticity of substitution is above one in Spain and below one in the U.S. We also show that the price markup drives the elasticity of substitution away from one, upwards in Spain, downwards in the U.S. These results are used to explain the declining path of the labor income share, common to both economies, and their contrasted patterns in terms of capital deepening.

Report to the Minister for Health and Children: Independent Examination related to the Medical Council and South-Eastern Health Board (Dr John Harding Price)

The Minister for Health and Children has requested that an independent review be carried out of the circumstances surrounding the employment of a UK based Consultant Psychiatrist, Dr John Harding-Price, to a locum psychiatrist position with the South Eastern Health Board (SEHB) while he was suspended by the General Medical Council (GMC) in the United Kingdom and consequently the subject of legal proceedings by the Medical Council in Ireland. The Consultant was continuously registered with the Medical Council since 1968. Download the document here

Copwatching et perception publique de la police. L'intervention policière comme performance sous surveillance

Envisagée comme une situation sociale de rassemblement en rue, l'intervention policière se caractérise par sa nature publique et observable. Le « copwatching », en tant que pratique amateur de captation vidéo des interventions de police, problématise la visibilité des agents sur la voie publique en les soumettant à une surveillance médiatique. M'appuyant sur des exemples vidéos, j'explore les dimensions visuelles et symboliques du travail policier. De la performance policière en rue à la figuration médiatique du policier, l'étude des médiations entre action et image permet d'interroger la perception publique de la police engagée dans les rassemblements. Abstract Cop-watching and the public perception of the police. Police intervention as performance under surveillance. This paper deals with police work as a public performance on the street. Cop-watching, a way of publicly observing and documenting police activities, reveals the complex relationship between public perceptions of law enforcement and the visual nature of much police work. Three methodological approaches to cop-watching videos allow us to highlight the visual dimensions of police work : the study of mass-media images of cops, the study of street performance by real cops, and the study of the ways people make sense of the visual symbolic environment present in everyday police work.

Perception du risque lié au tabagisme: données et interrogations [Smoking risk perception: facts and questions]

Based on general concepts relating to risk perception, the authors summarize in this article today's knowledge of smoking risk perception. A pluridisciplinary approach (general internal medicine, public health and anthropology) allows an improved understanding of its complexity, its utility in every day clinical practice and of the questions still pending around its use and evaluation in research projects.

The perception of touch and the ventral somatosensory pathway.

In humans, touching the skin is known to activate, among others, the contralateral primary somatosensory cortex on the postcentral gyrus together with the bilateral parietal operculum (i.e. the anatomical site of the secondary somatosensory cortex). But which brain regions beyond the postcentral gyrus specifically contribute to the perception of touch remains speculative. In this study we collected structural magnetic resonance imaging scans and neurological examination reports of patients with brain injuries or stroke in the left or right hemisphere, but not in the postcentral gyrus as the entry site of cortical somatosensory processing. Using voxel-based lesion-symptom mapping, we compared patients with impaired touch perception (i.e. hypoaesthesia) to patients without such touch impairments. Patients with hypoaesthesia as compared to control patients differed in one single brain cluster comprising the contralateral parietal operculum together with the anterior and posterior insular cortex, the putamen, as well as subcortical white matter connections reaching ventrally towards prefrontal structures. This finding confirms previous speculations on the 'ventral pathway of somatosensory perception' and causally links these brain structures to the perception of touch.