Economics - Research Publications
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ItemImpact of COVID-19 shocks, precarity and mediating resources on the mental health of residents of share housing in Victoria, Australia: an analysis of data from a two-wave surveyRaynor, K ; Panza, L ; Bentley, R (BMJ PUBLISHING GROUP, 2022-04-01)OBJECTIVES: COVID-19 lockdown measures have challenged people's mental health, especially among economically vulnerable households. The objective of this study was to investigate the impact of exposure to COVID-19 shocks (defined as job loss, living cost pressures and changing housing conditions throughout the lockdown period) and double precarity (defined as precarity in housing and employment) on mental health outcomes for members of share households as well as the mediating effects of a range of resources. DESIGN: We conducted a two-wave survey of occupants of share housing in June and October 2020 during a prolonged period of population lockdown. Research design involved fixed effects ordered logit regression models to assess the mental health consequences of baseline precarity and COVID-related shocks. SETTING: Victoria, Australia. PARTICIPANTS: We surveyed 293 occupants of share houses (mean age 34 SD 11.5, 56% female). Members of share houses (where individuals are unrelated adults and not in a romantic relationship) are more likely to be young, casually employed, visa-holders and low-income. OUTCOME MEASURES: We measured household composition, housing and employment precarity, access to government support, household crowding, social networks and COVID-19 shocks. We used a self-reported measure of mental health. RESULTS: Those exposed to COVID-19 shocks reported a 2.7 times higher odds of mental health deterioration (OR 2.7, 95% CI 1.53 to 4.85). People exposed to double precarity (precarity in both housing and employment) reported 2.4 times higher odds of mental health deterioration (OR 2.4, 95% CI 0.99 to 5.69). Housing inadequacy and lack of access to sufficient government payments explained 14.7% and 7% of the total effect of double precarity on mental health, respectively. CONCLUSIONS: Results indicate that residents of group households characterised by pre-existing precarity were vulnerable to negative mental health effects during lockdown. Access to sufficient government payments and adequate housing buffered this negative effect.
ItemAustralian squatters, convicts, and capitalists: dividing up a fast-growing frontier pie, 1821-71Panza, L ; Williamson, JG (Wiley, 2019-05)Compared with its competitors, Australian GDP per worker grew exceptionally quickly from the 1820s to the 1870s, at a rate about twice that of the US and three times that of Britain. Did this rapid growth produce rising inequality, following a Kuznets curve? Using a novel dataset, this article offers new evidence that provides unambiguous support for the view that, in sharp contrast with the US experience and with globalization‐inequality views concerning late nineteenth‐century frontiers, Australia underwent a revolutionary levelling in incomes up to the 1870s. This assessment is based on trends in many proxies for inequality, as well as annual estimates of functional income shares in the form of land rents, convict payments, free unskilled labour incomes, free skilled labour and white collar incomes, British imperial transfers, and a capitalist residual.
ItemAlways egalitarian? Australian earnings inequality 1870-1910Panza, L ; Williamson, JG (WILEY, 2021-07-01)
ItemOvercoming the Egyptian cotton crisis in the interwar period: the role of irrigation, drainage, new seeds and access to creditPanza, L ; Karakoc, U (Wiley, 2021-02-01)After experiencing a period of spectacular growth during the late nineteenth century, the Egyptian cotton sector underwent a phase of stagnation, which was followed by a gradual and steady increase in output during the interwar period. Drawing on a new panel dataset at the province–year level, this article explores the determinants of the upturn in cotton output, running a horserace between credit, seed technology, and infrastructure. In order to address endogeneity concerns, an instrumental variable approach is adopted, using a modified version of Bartik's shift‐share instrumental variable. Our results provide supporting evidence that peasants switched to a lower‐yielding cotton variety as a response to changes in relative price. Moreover, our production function estimates show that two key factors had a positive impact on output growth: credit availability and the adoption of new cotton varieties.
ItemThe impact of ethnic segregation on schooling outcomes in Mandate PalestinePanza, L (Elsevier, 2020-09-01)This paper provides new and comprehensive evidence on the relationship between ethnic segregation and Arab and Jewish human capital formation in Mandate Palestine, the historical period in which the roots of the current reality of inter-ethnic separation were built. Using a novel panel dataset (1927–1945), I exploit geographic and time variation in the degree of segregation across Palestine to assess whether it affected schooling outcomes, observed on average for each ethnic group. The empirical findings suggest that segregation negatively affected Muslim and Christian school enrolments, while being positively associated with Jewish school provision. The negative impact of segregation on Arab schooling was primarily driven by negative income effects.
ItemLiving costs and living standards: Australian development 1820–1870Panza, L ; Williamson, JG (Oxford University Press (OUP), 2020-02-01)This paper contributes to the New World living standard leadership debate by comparing the Australian experience during 1820s–1870s with the USA, Latin America, and the UK. Using novel living costs data, we compute two estimates of income leadership: welfare ratios and purchasing–power–parity-adjusted GDP per capita. Australia started considerably below the UK and the USA but by the 1870s, it had overtaken the former and had almost done so for the latter, due to relatively rapid labour productivity growth and a steep decline in living costs. Still, in the 1870s Australia was not the world income leader, but a close second.
ItemThe evolution of Ottoman–European market linkages, 1469–1914: Evidence from dynamic factor modelsPanza, L ; Li, Z ; Song, Y (Elsevier, 2019)This paper exploits data on a set of traded goods to undertake the first comprehensive empirical analysis of market integration between the Ottoman Empire and Europe from 1469 to 1914. Computing dynamic factor models via Bayesian inference, we overcome such data constraints as missing observations and a small sample size. The results of this analysis suggest that there were persistent market linkages until the first half of the 19th century, followed by a decline in price convergence. We also find that the intensity of Ottoman–European conflict had a negative effect on integration, especially during the 1844–1914 period.
ItemHidden in Plain Sight: Correspondent Banking in the 1930sPanza, L ; Merrett, D (Taylor & Francis (Routledge), 2019)We present novel quantitative evidence on the number and location of correspondent banking relationships in the 1930s, a neglected area of international banking. Our data, collected from Thomas Skinners’ Bankers’ Almanac, captures over 2000 correspondent banking connections primarily based on London and New York and a smaller cohort of multinational banks. We draw on the new institutional economics and international business literature to explain the relative ubiquity of correspondent banking and the relative scarcity of multinational banks. Our argument that bilateral trade flows drive correspondent banking is tested empirically using an instrumental Poisson pseudo-maximum likelihood estimation.