Funding and Financial Regulation for Third Sector Broadcasters: What Can Be Learned From the Australian and Canadian Experiences?

The article takes an in-depth look at the experiences Australia and Canada have had dealing with issues related to the funding and financial regulation of the third or ‘private, non-profit’ sector of broadcasting. Through the analysis of these experiences, recommendations are extracted aimed at providing policy makers and stakeholders from other jurisdictions guidance regarding how to deal with these issues.     

Who Pays for Seniors Housing and Care Communities? Evidence from the Residents Financial Survey

To examine the financial characteristics of residents in assisted living and independent living communities and to see how they currently pay for their care arrangements, we surveyed 2,617 residents in assisted living and independent living communities. We asked them how they pay for their current costs and verified their answers by examining self-reported information on their cost and income. Residents stated that they are largely paying for their community costs independently. Approximately one third of respondents reported using their assets and income to cover their current costs. The data supported the notion that individuals living in assisted living and independent living communities are largely mid- to high-income elderly. However, the cross-sectional analysis showed that length of time in the community was positively associated with paying for their expenses independently out of income, after controlling for many confounders including age, education, and lifetime earnings to try to rule out differential longevity and differential selection over time. Further longitudinal analysis is needed to understand the cause and the implications of the positive correlation between ability to pay one's bills out of income and the length of time in the community before conclusions about spend-down can be made.     

Unequal Exchange? Recent Transfers of Agricultural Resources and their Implications for Developing Countries

Plant genetic resources constitute the biological basis for plant breeding and future agricultural development. Their transfer from developing to developed countries over centuries has sometimes been viewed as an example of exploitation, if not ‘biopiracy’. Modern gene flows are different in character and magnitude from historic exchanges, however. This article examines current patterns and finds that developing countries are major net recipients of germplasm samples from CGIAR centres, particularly if ‘improved materials’ are considered. Potentially problematic, intellectual property rights do not currently present major barriers to the availability and use of genetic resources by developing countries. Proposals to restrict flows and redress perceived injustices may reduce the benefits accruing at present to developing countries from germplasm exchanges.     

College Student Financial Stress: Are the Kids Alright?

An analysis of College students’ subjective well-being (SWB) and persistence behavior was conducted with an emphasis on financial stress and individuals’ perceptions of financial situation, controlling for a number of health, financial, and demographic factors. Data were taken from a sample of 324 undergraduate students from a major Midwestern university. Results indicated that students experiencing higher reported financial stress scored lower on a measure of SWB, and were also significantly more likely to report difficulty maintaining enrollment or number of academic hours enrolled. Individuals’ financial self-efficacy was positively associated with SWB and negatively associated with reductions in enrolled hours, though was not significant as a predictor of student persistence attitudes. Implications for student well-being and healthy campus initiatives are discussed.     

Financial worry among older people: Who worries and why?

This study sought to clarify what drives economic worries among older people. Based upon the data from a national sample of adults aged 65 and older in Israel (N = 550), we examined associations between financial worry and economic status, lifestyle, social network, concerns about functional health, long term care needs and cognition, and population group. The main financial worry was that pension funds will not suffice for one's entire life. Multivariate analysis revealed that financial worry was negatively related to perceived income adequacy and age, and positively related to concerns about care and to apprehensions regarding one's ability to make decisions. Immigrants from the former Soviet Union were found to worry less. Understanding the different sources of financial worries among older people is essential insofar as older people are increasingly expected to take personal responsibility for their financial futures. Dealing with negative outcomes that stem from financial worries are important programming and policy goals in an era of population aging.     

Financial Risk Attitude and Behavior: Do Planners Help Increase Consistency?

This study is the first to evaluate the effect of sources of information on households’ consistency between their risk attitude when making savings and investment decisions and risk behavior displayed when they do save and invest. As the responsibility is being shifted to individuals to save for their own financial future, it is important that individuals and households save and invest in a manner that is consistent with their financial risk tolerance. Financial planners were found to provide significant value to households on the consistency of their financial risk attitude and behavior. The implications of this work are far-reaching in the financial planning arena.     

Closing the Gap? Gender and the Global Compacts for Migration and Refugees

Migrant women's organizations, UN Women, and civil society advocacy networks have mobilized to call for greater gender‐responsiveness in migration governance. The development of the Global Compacts on Migration and Refugees presented an important opportunity to continue enhancing the international framework for protecting the rights of women and men on the move. This article asks: How has gender been understood/invoked during proceedings leading up to their adoption? In what ways is it incorporated in the resulting compacts and their operationalization? What are the gains and missed opportunities for gender‐responsiveness? Drawing on data gathered through participant observation in the global compact on migration preparatory meetings and member state negotiations in Geneva and New York, and policy analysis of the drafts of both compacts, this paper aims to determine the extent to which the compacts, and the plans to operationalize them, serve to widen or close the gender gap.     

Does Financial Satisfaction Vary Depending on the Funding Strategy Used to Pay for College?

This study sought to determine whether the levels of financial satisfaction reported by college undergraduates and graduates differ in relation to whether they funded their college education by working or borrowing or a combination of the two. Data for this study came from a survey sample of full-time freshmen that formed the basis of a longitudinal study conducted at a large public university. Funding sources examined were grouped into those who worked only, those who borrowed only, those who worked and borrowed, and those who used grants, scholarships, or other sources of money to fund their college education. Compared to those who had student loans, those who had financed college with grants, scholarships, or other money (usually from family and/or friends) were more likely to report greater financial satisfaction than those who had used student loans to pay for college. There was evidence that this was only true during college rather than after college. The results obtained suggest that merely possessing a student loan may not necessarily decrease the level of financial satisfaction as many suspect, especially considering other funding alternatives such as working during college. While there was no significant impact of these funding strategies on financial satisfaction either during or after college, there was evidence for possible thresholds at which overall student loan balances may begin to erode financial satisfaction. The results obtained suggest that student loans may not decrease the level of financial satisfaction as much as many have suspected when compared with working to pay for college, as long as the amount of the student loan is not excessive, and is not accompanied by other types of debt (which also reduced financial satisfaction).

     

Financial forecasts during the crisis: Were experts more accurate than laypeople?

The main goal of this paper was to examine the accuracy and confidence of financial forecasts during the 2009/2010 crisis. The study was carried out in February 2009 in Poland. The participants represented two groups: financial analysts and laypeople (people without knowledge or skills in finance). All participants were asked to forecast future stock market performance and foreign exchange rates. Additionally, they marked their confidence on a 100-point scale. The results showed that the forecasts significantly differed from the real values. In forecasting both the stock market and the currency exchange market, the prediction error significantly differed from zero. Even if the participants were optimistic in making the directional stock market forecasts, they were pessimistic when making point index predictions, which suggests a judgmental paradox. The experts were slightly better than the non-experts in predicting the stock market. However, their accuracy was generally not better in the exchange market forecasts. The next step of the analysis focused on the confidence factor. The results of this part of the research showed that the laypeople were less confident than the experts in all the judgments.     

Governing the Global Land Grab: What role for Gender in the Voluntary Guidelines and the Principles for Responsible Investment?

The heightened interest in large-scale foreign agricultural investment in regions with ‘unused’ arable land has triggered a great deal of international attention. Concerns about ‘land grabbing’ have initiated efforts at the global level to establish standards for ‘responsible investment’ and good governance. These initiatives warrant critical examination given the social, political, and economic inequalities to which they are designed to respond, yet the scholarship on these initiatives frequently fails to incorporate gendered analyses. This article argues that gendered analysis of the governance of land grabs not only belongs at the local level—where it continues to yield important insights into how gender inequality is manifested in various forms of local governance—but that it is sorely needed at the global level as well. As such, this article begins an assessment of these governance frameworks and how they consider local realities, with particular attention to gender-based inequalities.     

Progressive taxation and redistributive taxation: Different labels for the same product?

The paper examines different approaches to measure tax progressivity. In particular the distributional aspect of taxation is considered in some depth. For each member of a parametric class of inequality concepts, including more than only the relative and the absolute view of inequality, a necessary and sufficient condition for a tax function to be inequality reducing with respect to this concept for all admissible pre-tax income distributions is derived, both in strong and weak form. Only three very natural properties are required to prove this result: each tax liability is less than the corresponding pre-tax income, taxation does not reverse ranks on the income scale, and inequality is reduced if a rich gives to a poor such that they do not interchange their ranks. A definition of tax progressivity based on the shown equivalence is suggested. It is demonstrated that inequality reducing taxation is equivalent to progressive taxation in the sense of an increasing average tax rate if and only if the concept of relative inequality is used.An early version of this paper was presented at the seminar on Distributive Justice and Inequality at the Wissenschaftskolleg, Berlin, May 20–24, 1986. Some of the material contained previously circulated under the heading Generalized concepts of tax progression and inequality reduction.The author is indebted to Peter Lambert whose survey of tax progressivity inspired the present analysis incredibly. James Foster, John Weymark, and two anonymous referees provided helpful comments. Remaining errors and omissions are all mine.     

Social policy and transitions to training and work for disabled young people in the United Kingdom: neo-liberalism for better and for worse?

Although New Labour distanced itself from the neo-liberal ‘underclass’ discourses of its predecessors, its approach to disabled young people maintained key aspects of neo-liberalism, particularly an emphasis on individuals’ human capital, aspirations and self-investments as causes of and solutions to disabled young people’s unemployment. This is also apparent in early Coalition government statements. Since the 1990s, policies have focused on providing individually-tailored advice, developing individuals’ skills, and motivating appropriate self-investment. We examine recent evidence that highlights a number of problems with this focus. Notably, it entails a simplistic and individualised notion of ‘barriers’ to employment that cannot account for the complex impacts of disablement and inequality; moves towards open-market models of training and work support create perverse incentives that divert support away from those most in need; employment success is dependent on unpredictable local opportunity structures; and the focus on paid employment undermines other social contributions made by disabled young people.     

Increasing inter‐generational social mobility: is educational expansion the answer?

Reforms which increase the stock of education in a society have long been held by policy‐makers as key to improving rates of intergenerational social mobility. Yet, despite the intuitive plausibility of this idea, the empirical evidence in support of an effect of educational expansion on social fluidity is both indirect and weak. In this paper we use the raising of the minimum school leaving age from 15 to 16 years in England and Wales in 1972 to estimate the effect of educational participation and qualification attainment on rates of intergenerational social class mobility. Because, in expectation, children born immediately before and after the policy was implemented are statistically exchangeable, the difference in the amount of education they received may be treated as exogenously determined. The exogenous nature of the additional education gain means that differences in rates of social mobility between cohorts affected by the reform can be treated as having been caused by the additional education. The data for the analysis come from the ONS Longitudinal Study, which links individual records from successive decennial censuses between 1971 and 2001. Our findings show that, although the reform resulted in an increase in educational attainment in the population as a whole and a weakening of the association between attainment and class origin, there was no reliably discernible increase in the rate of intergenerational social mobility.