This paper examines financial literacy in Japan using a recent dataset from 2022 and finds that financial literacy levels are low. Only 36% of the respondents could correctly answer the Big Three financial literacy questions, three well-known questions assessing the understanding of interest, inflation, and risk diversification. Also, significant demographic variation exists in the Japanese population: the young, women, and the less educated are those who struggle the most with these fundamental financial concepts. Additionally, we find that Japanese who know the basics about environmental, social, and corporate governance (ESG)-related principles are also those who show better financial literacy levels than those who do not know about ESG. Lastly, our results confirm that financial literacy matters: it is strongly and positively correlated with active investment behavior, which may affect wealth accumulation and financial wellbeing.

In this paper, we examine financial literacy in Singapore. Using data from the SKBI-GFLEC Sustainable Investment Survey, we find that approximately 40% of Singaporeans are financially literate. We also find that financial literacy is low among specific groups such as women, the less educated, and the unemployed. Moreover, we examine financial literacy across Environmental, Social, and Governance (ESG) literacy. We find that those with higher ESG knowledge are also more financially literate, showing that knowledge of these two different financial concepts is positively correlated. Finally, our results show that financial literacy can be linked to investment behavior which may affect financial well-being in the long run.

Communities urbanize when the net benefits to urbanization exceed rural areas. Body mass, height, and weight are biological welfare measures that reflect the net difference between calories consumed and calories required for work and to withstand the physical environment. Individuals of African-decent had greater BMIs, heavier weights, and shorter statures. Urban farmers had lower BMIs, shorter statures, and lower weight than rural farmers. Over the late 19th and early 20th centuries, urban and rural BMIs, height, and weight were constant, and rural farmers had greater BMIs, taller statures, and heavier weights than urban farmers and workers in other occupations.

We administered the FINRA Foundation's National Financial Capability Study questionnaire to members of the RAND American Life Panel in 2012 and 2018. Using this unique, longitudinal data set, we investigate the evolution of financial literacy over time and shed light on the effect of financial knowledge on financial outcomes. Over a six-year observation period, financial literacy appears to be rather stable, with a slight tendency to decline at older ages. Importantly, financial literacy has significant predictive power for future financial outcomes, even after controlling for baseline outcomes and a wide set of demographics and individual characteristics that influence financial decision making.

This article examines the impact of the neoliberal restructuring of health services on female nurses in Turkey. It provides a qualitative analysis of work–family conflict, establishing that not only work but also family life has become more precarious. The contours of precariousness of both work and family are analysed through interviews with 50 female nurses working full time in different areas of health service provision. The findings suggest that the neoliberal restructuring of health services has led to staffing deficits along with workload intensification, unpredictable work schedules and poor organisational support. This has increased work–family conflict, defined as a form of precariousness because it heightens the difficulties, risks and insecurities entailed in balancing family-related expectations with increasing work demands for female nurses. This precariousness makes spousal support critical if nurses are to be able to address work–family conflict and leads to nurses’ compliance with unfavourable working conditions as a way to resolve the mutual interference of family and work. The increased subordination of life to work has resulted from the neoliberal managerialisation of health services, creating precarisation in the lives of female nurses.

Using detailed spending and time use data from the Netherlands, this paper analyzes the causal effect of retirement on spending and time use decisions. Both total consumption and disaggregated consumption categories are considered. We do not find empirical evidence for drops in households' total non-durable spending at retirement. Our estimates suggest increases in spending at retirement on goods that are complementary to leisure, but no decreases in spending on goods that are replaceable by home production. The quantitative implication of our empirical results for the Life-Cycle Model is an intertemporal elasticity of substitution for leisure below unity.

Well-functioning factor markets play an important role in improving the performance of the agricultural sector. Our paper examines both technical and allocative efficiencies at the household level, with an application to a cross-section sample of rural households in three provinces of China in 2009. In a first step, we use nonparametric methods to estimate household efficiency. In a second step, we examine econometrically the role of land rental market and its linkages with household-level efficiencies. We find that participation in the land rental market does not affect technical efficiency but has large positive effects on allocative efficiency. This stresses the need to distinguish between technical efficiency and allocative efficiency in the analysis of land tenure issues. The improvements in allocative efficiency from land-leasing contribute to significant increases in household income in rural China.

While the relationship between socioeconomic status and child health has been studied extensively in developed countries, evidence is limited for developing countries. This study makes an important contribution by examining the relationship between child health and household socioeconomic status in Vietnam, using household expenditure as an alternative measure. This also allows us to explore the mechanisms via which income affects child health, in which household consumption arguably plays a crucial role. We employ different measures of health that allow us to examine both long-run and short-run effects, and two alternative instrumental variables, the unemployment rate and rainfall deviation, to address the potential endogeneity of household expenditure. We find evidence of a strong positive impact of household expenditure on child health and the findings are consistent across age groups. Specifically, a 10% increase in expenditure will result in a weight gain of 213–541 g in a “typical” child. We also explore the effect of a range of exogenous adverse economic shocks on children's health.

We forward the hypothesis and empirically establish that variations in the strength of family ties are rooted in culture. In particular, we show that individualism is associated with looser family ties. We exploit the associations between contemporary individualism and historical climatic and disease environments to establish a causal relationship. At both the individual- and country-levels, we find strong support that individualism reduces family ties. The estimated effects are economically large and robust to a wide variety of potentially confounding variables.

Average stature reflects cumulative net nutrition and health during economic development. This study introduces a difference-in-decompositions approach to show that although 19th century African-American cumulative net nutrition was comparable to working class whites, it was made worse-off with the transition to free-labor. Average stature reflects net nutrition over the life-course, and adult blacks born under bound-labor had greater age related statures loss than blacks under free-labor. Agricultural worker's net nutrition was better than workers in other occupations and was better-off under free-labor and industrialization. Within-group stature variation was greater than across-group variation, and white within-group stature variation associated with socioeconomic status was greater than African-Americans.

We analyze the interaction of black–white race with physical and socioeconomic characteristics in the US marriage market, using data from the Panel Study of Income Dynamics. We estimate who inter-racially marries whom along anthropometric and socioeconomic characteristics dimensions. The black women who inter-marry are the thinner and more educated in their group; instead, white women are the fatter and less educated; black or white men who inter-marry are poorer and thinner. While women in “mixed” couples find a spouse who is poorer but thinner than if they intra-married, black men match with a white woman who is more educated than if they intra-married, and a white man finds a thinner spouse in a black woman. Our general findings are consistent with the “social status exchange” hypothesis, but the finding that black men who marry white women tend to be poorer than black men who marry black women is not.

Fourteen percent of households in the United States faced some level of food insecurity in 2014. This study provides a review of the state of knowledge on food insecurity in the United States and the programs designed to combat the problem. A household decision-making model is used to frame the discussion. The study also provides suggestions for future research.

In order to credibly “sell” legitimate children to their spouse, women must forego more attractive mating opportunities. This paper derives the implications of this observation for the pattern of matching in marriage markets, the dynamics of human capital accumulation, and the evolution of the gene pool. A key consequence of the trade-off faced by women is that marriage markets will naturally tend to be hypergamous – that is, a marriage is more likely to be beneficial to both parties relative to remaining single, the greater the man’s human capital, and the lower the woman’s human capital. As a consequence, it is shown that the equilibrium can only be of two types. In the “Victorian” type, all agents marry somebody of the same rank in the distribution of income. In the “Sex and the City” (SATC) type, women marry men who are better ranked than themselves. There is a mass of unmarried men at the bottom of the distribution of human capital, and a mass of single women at the top of that distribution. It is shown that the economy switches from a Victorian to an SATC equilibrium as inequality goes up.

The model sheds light on how marriage affects the returns to human capital for men and women. Absent marriage, these returns are larger for women than for men but the opposite may occur if marriage prevails. Finally, it is shown that the institution of marriage may or may not favour human capital accumulation depending on how genes affect one’s productivity at accumulating human capital.

This paper reports results from a U.S. national telephone survey ongenetically modified foods (vegetable oil, cornflakes, and salmon). Thesurvey featured a contingent valuation in which respondents chose betweenthe GM and non-GM alternatives with an option of indifference. The binomialand multinomial logit models yielded estimated willingness to pay (WTP) toavoid the GM alternatives. Respondents were willing to pay 20.9%, 14.8%,28.4%, and 29.7% of the base prices to avoid GM vegetable oil, GMcornflakes, GM-fed salmon, and GM salmon, respectively. The inclusion ofindifference option could increase the sample size and moderate the meanWTP.

We attempt to value health risks by combining traditional demand impact analysis with direct elicitation of individuals' risk perceptions of food safety. We examine the impact of multiple risks of related goods on consumption of a risky good. We argue that the consumption of a risky good depends on both its absolute risk level and its relative risks to other risky goods. Seafood consumption in eastern North Carolina was studied. We elicited, in a survey, individual perceived risks as reference points to derive the economic value of reducing health risk in seafood consumption. Revealed and stated data were combined to trace out demand changes in response to absolute and relative risk reductions. Our results show that seafood consumption is affected by the perceived absolute risk and by the relative risk to poultry and that individuals react to the multiple risks in a nonlinear way, as was suggested by our analytical model.

Fats and oils play a prominent role in U.S. dietary patterns. Recent concerns over the negative health consequences associated with fats and oils have led many to suspect structural change in demand conditions. Our analysis considers short run (monthly) demand relationships for edible fats and oils. In that monthly quantities of fats and oils are likely to be relatively fixed, an inverse almost ideal demand system specification is used. A smooth transition function is used to model a switching inverse almost ideal demand system that assesses short-run demand conditions for edible fats and oils in the United States. The results suggest that short-run demand conditions for fats and oils experienced a gradual structural shift that began in the late 1980s or early 1990s and persisted into the mid-1990s. Although this shift generally made price flexibilities more elastic, differences in scale flexibilities across regimes were modest in most cases. The results suggest that decreases in marginal valuations for most fats and oils in response to consumption increases are rather small. Scale flexibilities are relatively close to –1, suggesting near homothetic preferences for fats and oils.

A Censored Incomplete Demand System is applied to household expenditures for edible oil in India. The results show that edible peanut oil is still a luxury good in India, whereas expenditure elasticities for other edible oils are relatively low. The food habit, location, education of household heads, and other demographic variables have significant effects on the choice of edible oils.

We investigate the impact of receiving a public pension on total expenditures, food expenditures, and private transfers of the elderly in South Korea. Using a natural experiment that occurred in 1999, we are able to explore the impacts of a large public pension program expansion which newly incorporated people who had been self-employed, unemployed, and out of the labor force. We find that receipt of a public pension did not allow the elderly to increase total expenditures or food expenditures because the expansion of public pensions largely crowded out financial transfers from adult children and/or own siblings.

This paper considers some of the implications of the increase in UK unemployment since the beginning of the Great Recession. The major finding is that the sharp increase in unemployment and decrease in employment is largely concentrated on the young. This has occurred at a time when the size of the youth cohort is large. As a response to a lack of jobs there has been a substantial increase in applications to university, although there has only been a small rise in the number of places available. Further we find evidence that the unemployed have particularly low levels of well-being, are depressed, have low levels of life satisfaction, have difficulties paying their bills and are especially likely to be in financial difficulties.