TEACHING TOOLS: ON JOURNALISTS' USE OF MACROECONOMIC CONCEPTS

Five macroeconomic concepts are presented which are prominent in the business sections of newspapers, but which are not given equivalent prominence in macroeconomic textbooks. These are the discouraged worker phenomenon, the use of inventories in forecasting, the effect of changes in the money supply on the bond market, and the effects of inflation and nominal interest rates in the foreign exchange market. These concepts are presented via news clips illustrating the way they typically appear in the press. Instructors are urged to place extra emphasis on these concepts.     

The role of family help in the housing decisions of young people

Recent debates about flows of help within the family have indicated considerable diversity according to the type of help (money, services), and ages and gender of those involved, and have shown that values are only a partial guide to the scale of such flows. This paper focuses on a particular occasion for help, young people's housing, and a particular region, South-East England, where one would expect family financial help to be high given the capacity to help of older generations (due to higher average incomes and wealth) and the affordability problems faced by young people. It is shown that contrary to hypothesis only 12% of a sample of young people had received financial help for housing purposes since they had left home, less than found in previous studies with different samples. The amounts involved were less than young people believed their parents could afford. The role of inheritance was also found to be minor. The results from the different studies are explained as due to changes in the housing market, changing values regarding financial help and differences among the samples. Intensive re-interviews with three households from very different backgrounds are used to show the different ways in which family help operates.     

追求新亚洲安全:文化视角中的地区合作

21世纪各个国家特别是亚洲各国进入了发展的新阶段。亚洲在经济发展中实现了建设性的双边伙伴关系。但是亚洲国家形成“与西方传统不同的亚洲国际关系模式”仍然任重道远。作者认为,亚洲共同的文化认同可以发挥重要作用,理应把亚洲国家特别是两个人口最多的国家中国和印度团结起来,全面实现“亚洲共同体”的战略目标。     

Joint Attention,Self‐Recognition,and Neurocognitive Function in Toddlers

Recent studies have attempted to understand the processes involved in joint attention because of its relevance to both atypical and normal development. Data from a recent study of young children with autism suggests that performance on a delay nonmatch to sample (DNMS) task associated with ventromedial prefrontal functions, but not an A‐not‐B/delayed response task associated with dorsolateral prefrontal cortex, was related to joint attention skills (Dawson et al., 2002). Recent research also suggests that joint attention is associated with dorsalmedial brain systems linked to self‐monitoring (Mundy, 2003). This study investigated the relations among joint attention, DNMS, and self‐recognition performance in a longitudinal study of 39 normally developing toddlers from 14 to 18 months. The results indicated that development on the DNMS and self‐recognition tasks, but not a means end task, predicted joint attention at 18 months. Further analysis showed that the model was only significant for initiating joint attention (IJA). The implications of these results for the neuro‐development of IJA are discussed.     

Improving on truncated linear estimates of exponential and gamma scale parameters

We consider the problem of estimating the scale parameter of an exponential or a gamma distribution under squared error loss when the scale parameter θ is known to be greater than some fixed value θ₀. Natural estimators in this setting include truncated linear functions of the sufficient statistic. Such estimators are typically inadmissible, but explicit improvements seem difficult to find. Some are presented here. A particularly interesting finding is that estimators which are admissible in the untruncated problem which take values only in the interior of the truncated parameter space are found to be inadmissible for the truncated problem.     

Exploring structure-effectiveness relationships in nonprofit arts organizations

The authors examined nineteen nonprofit performing arts organizations, investigating the distribution of influence among organizational members, the grouping of volunteers and staff in organizational structures, and the effectiveness of the organizations. The organizations' effectiveness was assessed using multiple performance indicators. The analysis revealed five groupings or configurations of influence, which correlated to the organizations exhibiting the highest and lowest levels of organizational effectiveness. The authors conclude that a variety of structures are associated with good performance but structural dysfunctions are associated with organizational failure, and that members' commitment to an organization's structure is an important element of success.     

India: ‘Brain Drain’ or the Migration of Talent?

2 views on "brain drain" exist: 1) LDCs lose their enormous investments on higher education when skilled people migrate to other countries and 2) LDCs are exaggerating the problem and only a few skilled people migrate at 1 time. India does not completely lose its investment in education when professionals migrate, since the migrants still contribute to knowledge and also send remittances to relatives in India. Unemployed educated people would cause a greater drain on India's resources than educated migrants. The author prefers the phrase migration of talent to brain drain, since the former indicates a 2-way movement. Most migrants from LDCs are students. About 11,000 university graduates leave India every year for advanced study and/or work. A conservative estimate is that 2500 will remain abroad permanently. Most professionals who migrate go to the US and Canada. Factors promoting migration include 1) unemployment, 2) immigration rules, 3) colonial links, 4) financial incentives and material benefits, 5) pursuit of higher education, 6) improvement of working conditions and facilities, 7) avoidance of excessive bureaucratic procedures, and 8) compensation for the mismatch between Indian education and employment. Reasons for returning to India include 1) deference to wives who were unable to adjust to a foreign way of life, 2) contributing to Indian development, and 3) racial discrimination. It will probably not be possible to lure back migrants who left for material reasons. Attractive job offers could entice back those who left for advanced training. To encourage the return of those who left to pursue high quality research, India must 1) increase expenditure on research and development, possibly through the private industrial sector, 2) promote travel to other countries for professional enrichment, and 3) improve conditions of research work. The article concludes with an analysis of migration of talent from 3 perspectives: 1) the individual, 2) the nation-state, and 3) the world as a whole.     

Individual irrationality and social welfare

Individual preferences inconsistent with personal welfare caused neither by ignorance nor by a positive consideration for the welfare of others are defined as (welfare) irrational. Sources of irrationality (rigid adherence to moral principles, excessive fear of danger, excessive tempetation of pleasure, revenge, inertia, faulty telescopic faculty, the fallacy of diminishing marginal utility of utility, etc.) are discussed. An evolutionary explanation of irrationality is suggested and some implications for individual decision and social policy indicated.I am grateful to two anonymous referees for comments.     

Selecting a family therapy model: the role of personality attributes in eclectic practice*

The expanding knowledge and skill bases within the interdisciplinary family therapy profession pose a significant challenge for evolving practitioners, at whatever stage along the professional development process they find themselves. This challenge raises a basic question regarding whether there are any constraining forces to the level of eclecticism in practice towards which one can aspire. This paper empirically explores the role played by the personality attributes of the family therapist in facilitating and/or inhibiting one's adherence to a variety of approaches to family practice.     

Retrospective on the utility theory of von Neumann and Morgenstern

This article offers an exegesis of the passages in von Neumann and Morgenstern (1944, 1947, 1953) that discuss their conception of utility. It is occasioned by two factors. First, as we approach the semicentennial of the publication of Theory of Games and Economic Behavior, its immense impact on economic thought in the intervening years encourages serious reflection on its authors' ideas. Second, misleading statements about the theory continue to appear. The article will have accomplished its purpose if it helps others appreciate the genius and spirit of the theory of utility fashioned by John von Neumann and Oskar Morgenstern.