The making of US monetary policy: Central bank transparency and the neoliberal dilemma

This article explores the implications of the Federal Reserve’s shift to transparency for recent debates about neoliberalism and neoliberal policymaking. I argue that the evolution of US monetary policy represents a specific instance of what I term the “neoliberal dilemma.” In the context of generally deteriorating economic conditions, policymakers are anxious to escape responsibility for economic outcomes, and yet markets require regulation to function in capitalist economies (Polanyi 2001). How policymakers negotiate these contradictory imperatives involves a continual process of institutional innovation in which functions are transferred to markets, but under the close control of the state. Thus, under transparency, Federal Reserve officials discovered innovations in the policy process that enabled “markets to do the Fed’s work for it.” These innovations enlisted market mechanisms, but did not represent a retreat from the state’s active role in managing the economy.

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Did the legalization of abortion increase women’s household bargaining power? Evidence from labor supply

I estimate the impact of abortion legalization on spouses’ labor supplies to test whether legalization increased women’s household bargaining power, in a collective household behavior framework. Based on CPS data, I find that wives’ labor supply decreased and their husbands’ increased, which is consistent with the bargaining hypothesis. This contrasts with most studies of abortion and birth control technologies, which predict a labor supply effect only for women, and of opposite sign. Also consistent with the bargaining interpretation, I estimate no significant impact on anti-abortion religious couples or on those who regularly used contraceptives. PSID data yield supportive evidence.

Does housework matter anymore? The shifting impact of housework on economic inequality

In recent years, American women’s housework time has declined while American men’s housework time has risen. We examine how these changes have affected economic inequality in the United States. Using time-diary data from the Time Use in Economic and Social Accounts, 1975–1976 (N = 1,484) and the American Time Use Survey, 2003 (N = 5,534), we value adults’ housework using two alternative methodologies and assess its influence on households’ real access to goods and services in both years. Results suggest that housework reduces economic inequality in both years. But, between 1975–1976 and 2002–2003, overall economic inequality rose largely because of the growing wage inequality and also, in part, because of growth in housework inequality. Socio-demographic change partially inhibited the overall growth in economic inequality.

Gender and Transnational Gossip

Transnational social networks powerfully shape Mexican migration and enable families to stretch internationally. In an atmosphere of such high dependence on social networks, it would be rare for families not to be affected by the opinions of others. This article analyzes this often-overlooked aspect of social networks, gossip. I analyze gossip stories prevalent for one type of migrant family, those in which parents and children live apart. Drawing on over 150 ethnographic interviews and observation with members of Mexican transnational families and their neighbors in multiple sites, I describe both parents’ and children’s experiences with transnational gossip. I show that in a transnational context, gossip is a highly gendered activity with different consequences for men and women. Although targeting both women and men, transnational gossip reinforces the expectations that mothers be family caregivers and fathers be family providers even when physical separation makes these activities difficult to accomplish.

A Historical Perspective on High School Students’ Paid Employment and Its Association with High School Dropout

Discussions about the role of paid employment in high school students’ lives usually involve untested assumptions about historical trends in the frequency, intensity, and selective nature of students’ employment behaviors. Using several nationally representative data sources, we find few changes in rates of employment or hours worked per week among adolescents since 1940 or among students since 1980. We observe important changes in recent decades in racial/ethnic and gender differences in employment and intensive employment. Finally, we observe that the relationship between students’ intensive employment and high school completion has been stable and persistently significant since the late 1960s.

Cutting Porter’s Last Diamond: Competitive and Comparative (Dis)advantages in the Dutch Flower Cluster

The Dutch are the world’s leaders in the flower business even though they seem to lack comparative advantage in the traditional sense. Comparative advantages played a role in the history of the Dutch flower cluster and they still have a role today. Based on a critic of Porter’s theories, the investigation suggests that the exploitation of comparative advantages is allowed only to those firms and clusters that already possess a competitive advantage, based on technology, logistics infrastructure, innovation and human skills. So that comparative advantages and competitive advantages join in a sort of helix process based on social innovation and collective learning.

Business Diversification in the Securities Industry: Implications for the Exchanges

The growth strategies of the listed exchanges affect the morphology of the securities industry as they are focused on the consolidation of trading infrastructures and, on the other hand, on the diversification of the business model. New “conglomeral exchanges” are characterized by a far-reaching production function. Since they integrate product-service lines which are complementary, they potentially herald competitive distorsions limiting the investor’s freedom of choice and prejudicing the interest for the best result from the investment.

Money Matters: Young Adults’ Perception of the Economic Consequences of their Parents’ Divorce

A qualitative study examined the perceptions of 22 Israeli young adults (ages 20–25) of childhood parental divorce. Respondents discussed their experiences, including economic consequences of the divorce. Results related to the practical aspect of economic decline, to economic issues as embodiment of parental conflicts, and to children’s emotional and practical roles connected to economic changes. Children’s understanding and coping with financial issues are related to three profiles of overall adjustment identified in this study—resilience, survival, and vulnerability. Resilient young adults interpreted as empowering their understanding and coping; the survivors recognized their efforts as meaningful but burdensome; and vulnerable participants felt that economic changes caused a heavy financial and emotional price. Limitations and implications are discussed.

Reduced prizes and increased effort in contests

We study the general class of two-player public-policy contests and specify the asymmetry condition under which a more restrained government intervention that reduces the contestants’ prizes has the “perverse” effect of increasing their aggregate lobbying efforts.

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“A New Sort of ‘Salvation Army’”: Historical Perspectives on the Confluence of Psychoanalysis and Social Work

No profession in the United States has a broader perspective on human needs than social work. Bold but also functional, social work distinctively places the pursuit of social justice on a par with the clinical treatment of individuals, pairs and families. Yet for much of the twentieth Century, proponents of the “macro” and of the “micro” approaches to practice have challenged each other’s commitment to social progressivism and humanist values. Interestingly, this on-going debate has hardly changed the core “person-in-environment” psychoanalytic paradigm at all. It is time to set aside this hidebound dispute, I argue in this article: social work is not two institutions folded into one but one profession that must be understood dialectically. Drawing on the history of the early psychoanalyst’s intense social activism and their commitment to treating the poor and working classes, I show how psychoanalysis shares in the transformation of civil society and helps restore individuals and communities alike to self-regulation and productivity.

Chinese Contract Law and the Economic Reform

China’s previous contract laws had many contradictions and failed to meet the needs of China’s developing market economy. Although some problems still need to be dealt with, the unified contract law is more advanced, systematic and plays an important role in fostering and encouraging transactions.

Antecedents of Total Factor Productivity Change: Empirical Evidence from the Chinese Banking Sector

By applying the non-parametric Malmquist Productivity Index (MPI) method, this paper attempts to investigate the sources of productivity changes of China’s State Owned Commercial Banks (SOCBs) and Joint Stock Commercial Banks (JSCBs) during the period 2000–2005. The empirical findings suggest that the China banking sector has exhibited productivity progress attributed to the increase in efficiency. The empirical findings suggest that the SOCBs and the JSCBs have exhibited productivity progress of 0.2 and 1.3%, respectively.

The Monster Within: Countertransference Reflections on a Gay Adolescent’s Struggle with Sexual Identity

This paper concerns the author’s countertransference reflections on her work with a gay adolescent who identifies with powerfully destructive internal objects, including Hitler and the Monster. The author describes her countertransference inquiry through which she experiences her own potential destructiveness in order to help accommodate her adolescent patient’s rejected and disowned self states.

Educational Attainment and the Lesbian Wage Premium

This paper provides insight into the wage gap between lesbians and heterosexual women. Using data from the 2000 Decennial Census, we find a lesbian premium that equals approximately 10% for women without a bachelor’s degree, and is nearly non-existent for women with higher levels of education. These findings are consistent with proposition that the gap between lesbians’ and heterosexual women’s commitment to the labor market narrows at higher levels of education. We also find that controls for industry and occupation exert only a small effect on the gap between lesbian and heterosexual women’s wages.

Is the Current Account Deficit a Problem for Romania?

The current account deficit of Romania, both significant in size and persistent, has been a worrying issue affecting the country’s economic and financial macro-stability also in the medium and long term. This paper sets out to review the causes of that phenomenon and its coverage resources during the last 2 years, 2006 and 2007, while the final part deals with the potential developments of said parameters during the post European Union accession period, as well as of their respective influential factors.

Economic Status of Older Asians in the United States

Data from the 5-percent Census 2000 Public Use Microdata were utilized to examine the economic status of six Asian-only groups in the United States aged 65 and older. Japanese Americans’ economic status emulated that of older Whites; whereas, older Korean and Vietnamese economic status more closely resembled that of older Blacks. Regression results indicated that education, household size, and duration of immigration were significantly and positively related to household income for most of the Asian-only groups, supporting the theory that human capital, structural barriers, and acculturation all play a role in determination of household income for older Asian Americans.

Transference Enactments in Clinical Supervision

Transference enactments play a central role in clinical supervision regardless of whether supervisors or supervisees consciously recognize or acknowledge their presence. Supervisors who do recognize enactments better understand the core issues that interfere with supervisees’ capacity to relate therapeutically to patients. Supervisory process is markedly enhanced when supervisors consciously study manifestations of transference within the supervisory relationship and respond to them correctively. Corrective interventions, whether purposeful or unintentional, expand supervisees’ relational and self-reflective capacities.

A Calmly Disruptive Insider: The Case of an Institutionalized Advocacy Organization at Work

Through a case study of a leading service provider organization in Philadelphia, this paper explores the advocacy work of a publicly funded, professionalized, institutionalized nonprofit organization. In this article I relate how in the spring of 2002, staff at the organization responded to a recurring political issue: local business groups were again calling for official action against “aggressive panhandlers” in the downtown district. I use ethnographic and historical data to show that the organization’s institutionalization and ties to the public sector have allowed staff to develop resources and skills for being both contentious claim-makers and influential actors in the institutional political arena.

The connection between maternal employment and childhood obesity: inspecting the mechanisms

This paper investigates the channels through which maternal employment affects childhood obesity. We use time diaries and interview responses from the Child Development Supplement of the Panel Study of Income Dynamics which combines information on children’s time allocation, children’s BMI, and mother’s labor force participation. We find some evidence that supervision and nutrition play significant but small roles in the relationship between maternal employment and childhood obesity. Although the difference in the effect of maternal employment varies by mother’s education, we find few differences in the mechanisms by mother’s education.