THE CREDIT‐CHANNEL TRANSMISSION MECHANISM AND THE NONLINEAR GROWTH AND WELFARE EFFECTS OF INFLATION AND TAXES

With the credit‐channel effect driven by the central bank's open market operations, this paper's model easily gives rise to the nonlinear inflation‐growth nexus, which is evidenced by a number of cross‐country empirical studies. The threshold level of the inflation rate is found to be lower when tax rates are higher. The presence of the credit‐channel effect also provides the rationale for setting positive (and smaller than 1) tax rates on consumption, labor income, and capital income. The optimal tax rates rise as the inflation target declines. Under a fiscal policy rule where labor and capital income taxes move proportionally to each other, the optimal capital income tax rate could be higher than the optimal labor income tax rate. Under a sufficiently large central bank balance sheet, the credit‐channel effect will be so weak that inflation and all kinds of taxes are growth and welfare repressing. This provides a rationale for central banks that have implemented quantitative easing policies to shrink their balance sheets. (JEL E58, E62, O42)     

DURATION MODELS FOR CREDIT RATING MIGRATION: EVIDENCE FROM THE FINANCIAL CRISIS

We introduce a specific duration model to analyze the prediction of the credit rating migration. We consider hazard rate processes based on multi‐state autoregressive conditional duration models. To take account of the economic context, we model the conditional mean of the duration between two ratings by means of a latent process. To this purpose, a dynamic‐ordered probit model is developed to describe the directions taken by the ratings in the presence of multiple states. As an illustration, we study the migration of credit rating during periods before and after the financial crisis. (JEL C14, C41, G24)     

Issuing and Responding to Unusual Questions: A Conversation Analytic Account of Tom Andersen's Therapeutic Practice

Tom Andersen is considered one of the key contributors to the development of postmodern practice. Little is known, however, about the ways in which his ideas and practices are routinely carried out in situ. We used Conversation Analysis (CA) to investigate a session of couple therapy facilitated by Andersen. We show how Andersen and client participants oriented to and addressed problems of understanding that occurred between them. The source of this trouble was Andersen's use of unusual question formulations. We offer preliminary evidence that such unusual formulations served particular interactional and institutional (i.e., therapeutic) functions in their local contexts of use. We conclude by considering some implications of this analysis—and of conversation analytic inquiry more generally—for the practice of family therapy.     

Redoing Gender: How Women in the Funeral Industry Use Essentialism for Equality

Although some research considers women's participation in traditionally male‐dominated jobs as an ‘undoing’ of the gender system, other scholars argue that women's participation in non‐traditional roles can actually maintain hegemonic masculinity. Because women have recently entered the funeral industry in unprecedented numbers, the profession offers a unique context to study how women negotiate a sense of belonging in male‐dominated fields. I draw on 22 interviews with women in the funeral industry to reveal how gender is done and undone in an occupational context. In what Hughey ( 2010 . Social Problems, 57, 653–679) refers to as a ‘paradox of participation’, I argue that women in the funeral industry redefine the image of the ideal funeral director by using gender essentialist logic, which originally acted as a barrier to their entry to the field, to justify their participation. By showing how gender essentialism and egalitarianism can constitute reinforcing logics instead of an opposing binary, this research contributes to the literature concerning women in non‐traditional roles.     

‘Are we to become a gender university?’ Facets of resistance to a gender equality project

Gender equality (GE) is something ‘we cannot not want’. Indeed, the pursuit of equal rights, responsibilities and opportunities for all women and men throughout a society freed from gendered oppression is widely visible in recent organizational GE initiatives. In practice, however, GE initiatives often fail in challenging gendered norms and at effecting deep‐seated change. In fact, GE measures tend to encounter resistance, with a gap between saying and doing. Using a GE project at a Swedish university, we examined the changing nature of reactions to GE objectives seeking to understand why gender inequality persists in academia. We used ‘resistance’ to identify multiple, complex reactions to the project, focusing on the discursive practices of GE. Focusing our contextual analysis on change and changes in reactions enabled a process‐oriented analysis that revealed gaps where change is possible. Thus, we argue that studying change makes it possible to identify points in time where gendered discriminatory norms are more likely to occur. However, analysing discursive practices does not itself lead to change nor to action. Rather, demands for change must start with answering, in a collaborative way, what problem we are trying to solve when we start a new GE project, in order to be relevant to the specific context. Otherwise, GE risks being the captive of consensus politics and gender inequality will persist.     

Life satisfaction and family structure among adolescents in Hong Kong

Relationships between family structure and perceived life satisfaction in overall life and five domains of the Brief Multidimensional Students’ Life Satisfaction Scale, family life, friendships, school experience, myself, and where I live were examined among 4,502 Chinese adolescent secondary school students in Hong Kong. Bivariate analyses showed that economic status was not a significant risk factor, but gender, level of study, and migrant status had to be controlled to examine the life satisfaction-family structure relations. Logistic regression analyses found that in overall life, with adolescents living with two parents as standard for comparisons, adolescents living with mother had similar life satisfaction, but those living with father only, and those with no parents, or single parent with other adults had very much higher risk of life dissatisfaction. Specifically, the risks associated with the adverse family structures were most excessive in the domain of ‘family life’.     

Social Background Differences in Early Family Behavior

Social background has historically been recognized as a major factor influencing family behavior, though recent work has largely emphasized racial/ethnic influences. Here we use 1994 – 1995 and 2001 – 2002 Add Health data to examine the cohabitation, first marriage, and first birth experience of young women. In a multistate life table context, hypothetical cohorts specified in terms of race and mother’s education are followed, from age 11 to age 24, as they move through 6 family‐related statuses. The results indicate that, for both Black and White women, a higher level of maternal education is generally associated with less cohabitation, less marriage, fewer first births, and a higher percentage of women who experience none of those transitions before age 24. Racial and social background differences are conceptually and empirically distinct. Because mother’s education is associated with substantially different trajectories of early family behavior for both Blacks and Whites, we argue that social background merits increased attention in research on contemporary American family patterns.     

Fathering With Multiple Partners: Links to Children's Well‐Being in Early Childhood

The claim that multiple partner fertility may pose a risk of adverse outcomes for children has not been tested. We test this argument using a sample of 4,027 resident fathers and children from the Fragile Families and Child Well‐being Survey by examining the pathways through which fathers' multipartnered fertility is associated with children's externalizing behaviors and physical health status at 36 months. Path analyses indicate that multiple partner fertility exerted both a significant direct and indirect effect through paternal depression to influence children's externalizing behaviors. Fathers' multiple partner fertility also exerted a significant indirect effect through one mediator—father involvement—to influence children's physical health. This evidence suggests that the disruptions brought about by multipartnered fertility are important for understanding child well‐being.     

Children’s Strategies for Agency in Preschool

This article is based on an ethnographic study of children’s everyday life in Swedish preschools. The ethnography is used to explore children’s strategies for influencing, defending and constructing the social order of a preschool institution. The focus of our concern is on how the children, in their interactions with each other and with the preschool teachers, manage the collective regulation and how they negotiate their participation in collective activities. There is an inherent tension between free play and the high degree of routinised and collective activities within the preschool institution. The study shows that children are active in playing at the border, acting as if the institution is the children’s place. It also shows how they draw on different strategies as resources for managing the regulations, accounting for personal autonomy and negotiating the social order. In taking a child perspective and acknowledging children as active agents, it is possible to see how they influence and shape their everyday life in a preschool context. In addition, the article illustrates individual children’s strategic and pragmatic use of resources and in doing so contribute to their own childhood and thereby become part of a social and cultural construction process.