This paper studies the spatial relationship between traditional banking services (Banks) and alternative financial service providers (AFSPs). The main objective is to test the so-called spatial void hypothesis that AFSPs tend to locate in markets where traditional banking services are under-provided. The key question of interest here is whether or not AFSPs serve markets with significantly lower income levels than those of Banks. A statistical methodology is developed for addressing this question that builds on previous studies. The present approach is based largely on K-function analyses of both individual and paired point patterns. These Monte Carlo testing procedures are applied to Banks and AFSPs in the four-county region around Philadelphia, Pennsylvania, and are also compared with previous methods. The main finding of this research is that there is indeed strong empirical support for the spatial void hypothesis in this Philadelphia region.
Abstract. High youth unemployment continues to be a major concern to policymakers in the United States. In view of the many studies that have documented a perpetuation of the relatively high jobless rates for youth in the postwar period whether disaggregated by age, sex, or race, the debate on the youth employment‐unemployment problem has begun to focus more recently on its socioeconomic consequences. One of the overriding concerns is that early labor market unemployment experiences might carry over into later labor force performance. The cumulative effects of prolonged periods of unemployment and intermittent unemployment (i.e., duration and spells of unemployment) on the subsequent wages of a cohort of young men are examined. Spells of unemployment experienced early in the labor market careers of the cohort tended to have an increasing effect on their later wages, while spells occurring later and the duration of unemployment then serve to lower their subsequent wages.
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