Suchergebnisse

This paper is concerned with the potential profit opportunities in trading calendar spreads of 90-day Bank Accepted Bill (BAB) futures contracts on the Sydney Futures Exchange (SFE) during the 1990s. It is shown that statistically significant gross profits can be generated by a naïve strategy for most of the considered holding periods ranging from 3 months to 18 months. However, after the deduction of generous transaction costs, the net profits are statistically significant only for the 6-month holding period returns. The implications of the profits produced by calendar spread trading methodology on the efficiency of the BAB futures market are also addressed. The empirical results reveal that the efficiency market hypothesis for the BAB futures market cannot be universally accepted in the 1990s.

AbstractIn the context of the reversal of the educational gender gap, this article employs a nationally representative survey to examine the relationship between a wife's educational advantages (i.e., wife attains more education than her husband) and her husband's happiness. By controlling for individual, family, and community factors, we demonstrate that a husband's happiness is positively associated with his wife's educational advantages. Instrumental variable regressions and series of robustness checks corroborate the conclusion. However, certain heterogeneities are observed, with a particularly notable positive association among men with higher education levels, younger age, and those residing in the eastern region, likely influenced by their egalitarian gender ideologies. The study suggests that men are increasingly accepting of marriages in which the wife is more educated than her husband.

AbstractThe effects of marriage between biological relatives on the incidence of childhood genetic illness and mortality are of major policy significance, as rates of consanguinity exceed 50% in various countries. Empirical research on this question is complicated by the fact that consanguinity is often correlated with poverty and other unobserved characteristics of households, which may have independent effects on mortality. This study has developed an instrumental variables empirical strategy to re-examine this question, based on the concept that the availability of unmarried cousins of the opposite gender at the time of marriage creates quasi-random variation in the propensity to marry consanguineously. Using primary data collected in Bangladesh in 2006–07 and Pakistan in 2009–10, the study found that previous estimates of the impact of consanguinity on child health were biased and falsely precise. The study also empirically investigated the social and economic causes of consanguinity (including marital quality) and concludes that marrying a cousin can have positive economic effects for one's natal family, by allowing deferral of dowry payments until after marriage.