A Range-Based Multivariate Stochastic Volatility Model for Exchange Rates

In this paper we present a parsimonious multivariate model for exchange rate volatilities based on logarithmic high-low ranges of daily exchange rates. The multivariate stochastic volatility model decomposes the log range of each exchange rate into two independent latent factors, which could be interpreted as the underlying currency specific components. Owing to the empirical normality of the logarithmic range measure the model can be estimated conveniently with the standard Kalman filter methodology. Our results show that our model fits the exchange rate data quite well. Exchange rate news seems to be currency specific and allows identification of currency contributions to both exchange rate levels and exchange rate volatilities.     

Stress Hormone Changes and Marital Conflict: Spouses’ Relative Power Makes a Difference

We investigated the impact of relative marital power on 72 newlywed couples’ endocrinological responses to marital conflict. Marital power was determined by comparing spouses’ reports of dependent love for one another. Less powerful spouses displayed elevated adrenocorticotropic hormone (ACTH) responses to a conflict discussion. Shared power appeared to have a beneficial effect on wives’ but not husbands’ ACTH responses. Spouses’ cortisol levels declined over time, except for wives who were less powerful and for husbands who shared power with their wives. Conflict behaviors did not differ as a function of this marital power index. These data suggest that relative levels of general emotional power in relationships may play an important role in spouses’ physiological responses to marital conflict.     

Child Support Obligations and Low‐Income Fathers

Using the 1994–1998 waves of the Current Population Survey—Child Support Supplement (N =5,387), the aims of this study are to document child support obligation rates of nonresident fathers, to examine the effect of the obligation rate on child support compliance, and to calculate the trade‐off between fathers’ financial responsibility and children's well‐being, paying particular attention to low‐income fathers. The results indicate that low‐income fathers have high child support obligation rates, which significantly reduce their child support compliance. Although lowering the obligation rate for these fathers may improve their compliance, it does not fully offset the lowered obligation amounts and leads to a 30% net payment loss for welfare mothers and a 43% loss for nonwelfare mothers. Policy implications are discussed.     

Organizational-level interventions to reduce occupational stressors

Occupational stress research continues to grow, and is increasingly being used to inform national policy on worker health and well-being. Most models of occupational stress emphasize notions of person-environment fit. Two approaches for intervention to minimize adverse consequences of occupational stress follow from such models. One emphasizes the strengthening and enhancement of indwiduals and their resources, the other emphasizes the reduction ofcommon workplace-based sources ofoccupational stress. This paper reviews 10 organizational-level interventions to reduce stress at work which have been examined in various field studies. These interventions were generally found to have positive effects, and, given the limited success of individual-level interventions in addressing occupational sources of stress, should be encouraged.     

Validation of an inferential approach for the measurement of illegitimacy

An inferential model which utilizes surname comparisons in inferring legitimacy status is developed and validated. Criterion validation is employed to assess the level of agreement between the inferential approach and the conventional reporting procedure. Data for the analysis are based on a sample of birth certificates contained in files of the National Center for Health Statistics for calendar year 1973. Results indicate that despite excessive error within some categories of the control variables, the inferential method is generally adequate to obtain reliable estimates of illegitimacy.     

Analyzing birth intervals: Implications for demographic theory and data collection

In the last decade, the study of birth intervals has been greatly facilitated by a rapid expansion in data availability and by improvements in analytical techniques. Unfortunately, the results emerging from individual level, empirical studies of birth interval dynamics do not correspond with the predictions of standard demographic theory. This paper reviews a series of individual level studies that find substantial socioeconomic variation in childspacing after controlling statistically for the major intermediate or proximate variables. It then offers possible explanations for the lack of fit between theory and results at the micro level, concluding that the two most likely explanations are poor measurement of the four principal proximate determinants and the exclusion of additional proximate determinants.     

The role of social skills in encoding posed and spontaneous facial expressions

The purpose of this study was to determine the relationships between social skills and the abilities to express emotions intentionally and spontaneously. Students were videotaped during two tasks: a) while watching a series of emotionally arousing slides; and b) while posing emotional facial expressions. Judges viewing the videotapes determined how accurately the subjects could express emotions. Results suggested that certain social skills do underlie the ability to express emotions. Specifically, the ability to be emotionally expressive, but not ability to control emotions, is related to spontaneous sending ability. Expressive ability, coupled with role-playing skills, is related to posed sending ability. Additionally, the abilities to express emotions intentionally and spontaneously are positively related, suggesting that these two abilities involve some common, underlying social skill components.The authors would like to thank Charles Salinas for his assistance in the data collection.     

Lawyers and the Welfare State

For the most part, the Australian legal profession has failed to meet the challenge of extending the benefits of the law and legal processes to the poor. Lawyers have been assiduous in acting on behalf of wealthier beneficiaries of the welfare state, but they have not applied their skills to improve the position of those who lack substantial resources. An assessment of the role that the profession is equipped to fulfil on behalf of the poor reveals that there is much that could be done to penetrate the welfare process, if lawyers were prepared to direct their energies to that area.