What Happens to Defined Contribution Accounts When Labor Markets and Financial Markets Move Together?

The relationship among earnings, savings, and retirement is well known; however, the linkage between labor market outcomes and financial market performance is generally unacknowledged. We examine the implications of the link between labor markets and financial markets for workers who save money in individual retirement accounts. Specifically, differences in labor market outcomes across groups may imply differences in the timing of investments, which may reduce savings over time for these groups compared to their counterparts. Using monthly data from the Current Population Survey (1979–2002), we generate hypothetical investment portfolios using stock and bond indices. We exploit differences across demographic groups in unemployment and wage growth and use these differences to examine each group's investment outcomes. We then disaggregate the total effects into short-term and long-term components. We find some evidence of short-term market timing effects on investment, but we find much larger long-term effects for some groups. Our findings suggest that, for many people, the retirement savings losses associated with the timing of markets are similar to the costs of annuitizing savings upon retirement. The differences are especially pronounced by education and gender.     

Dependence, interdependence, and reciprocity after eighty

This article challenges the critics of social policy perspectives seeking to provide care in the community, taking issue with the generally jaundiced view of care giving and the exploitation of women. Based on quantitative and qualitative data from a study of the over eighties in rural U.K. (N = 125), the article looks at the low incidence of heavy dependency in the elderly population living at home and suggests that the preponderance of women in caring roles results from demographic and cultural factors. The experiences of caring spouses and caring daughters are explored in detail, stressing variation in the caring experience and gains as well as losses. Attention is drawn to the reciprocal and interdependent nature of caring relationships and a more differentiated approach to the study of care is urged.     

A Test of the Emergent Norm Theory of Collective Behavior

Objective: The paper uses the timing of evacuation behavior of occupants of the World Trade Center at the time of the explosion of February 26, 1993, to test predictions from Emergent Norm Theory. Method: It uses ordinary least square multiple regression analysis to examine data from a survey done in the first week in May 1993 of 415 people who worked at the World Trade Center. Results: The theory's predictions regarding the additive effects of size of group and preexisting social relationships on the timing of evacuation are supported. However, the findings document important and unexpected interaction effects of these two variables on the effects of perceived threat, resources, and cooperativeness on the timing of evacuation. Conclusion: The results augment the theory by showing the continued importance of enduring social relationships as determinants of collective behavior. Enduring social relationships are not only useful to differentiate collective behavior from institutionalized behavior but also specify the dynamics attending the occurrence of collective behavior.     

Marketing segmentation research—An application to bank services

The research reported here analyses data relating to bank services obtained by a stratified random sampling technique using stepwise linear regression and canonical correlation for the purpose of illustrating the application of segmentation principles to marketing research.     

Motion Picture Department

While historical thinking has a rich literature, civic thinking has been an underdeveloped area of research in social studies education. I discuss in this article three activities designed to strengthen students’ civic thinking skills by examining the “political death and resurrection” of Richard Nixon in the 1960s. These three activities help students critically analyze politicians’ remarks to grasp direct and indirect messages contained within political statements and advertising. The steps and resources to implement these activities are provided. The development of students’ civic thinking skills helps them analyze a politician’s arguments and judge for themselves the merits of a candidate and his or her statements and policy recommendations.     

He said, she said: The gender wage gap according to self and proxy reports in the Current Population Survey

Roughly half the labor force data in the Current Population Survey (CPS) are provided by proxy respondents, and since 1979, men’s reliance on proxies has dropped dramatically while women’s reliance on proxies has increased. Few authors, however, have examined how combining these first-hand and second-hand reports may influence our understanding of long-term economic trends. We exploit the outgoing rotation group structure of the CPS by matching individual records one year apart, and we find that self-reported wages are higher than proxy-reported wages even after controlling for all time invariant characteristics. Furthermore, we find that changes in the use of proxy respondents by men and women since 1979 have made current estimates of the gender wage gap larger than they would have been without changes in reporting status. This suggests that the gender wage gap has closed more than previously estimated. We recommend that researchers combine self and proxy responses with great care, especially when analyzing time trends or making gender comparisons.     

Advantages Gained By Combining Qualitative and Quantitative Data in a Longitudinal Study

Building on nearly 20 years of research experience, this article reflects on the collection and use of both qualitative and quantitative data in a longitudinal study of aging conducted in the United Kingdom. Specifically, it focuses on the identification of the Wenger support network typology and the ways in which the interaction between the different types of data informed the study. Subsequently, it (1) draws attention to the fact that the typology would not have emerged in the way it did without intensive qualitative study, but shows how quantitative data made it possible to test hypotheses raised in the intensive study; and (2) shows how the use of qualitative data led to different interpretations of the quantitative data in the analysis over time.     

Parent child relations among very old parents in Wales and the United States: A test of modernization theory

This study contrasts the structure of parent-child relationships of older parents living in Wales, U.K. with those of older parents living in the United States. Specifically, we examine whether the principal dimensions of intergenerational solidarity and their associations with each other, are invariant across two national cultures. Comparable measures are assessed from the responses of older parents participating in three surveys: Bangor Longitudinal Study of Ageing (N = 139), USC Longitudinal Study of Generations (N = 129) and AARP Study of Intergenerational Linkages (N = 102). Overall, there were fewer differences than expected among the samples. Although proximity and contact with adult children were higher among older parents in the Wales sample, there were no appreciable differences in emotional closeness and receipt of help. However, there was a significantly higher correspondence between proximity and emotional closeness among Welsh parents than among both samples of American parents, suggesting that parents in North Wales forge more intimate ties with local children. Moreover, older Welsh parents were more likely than older parents in the American samples to receive help from children who were both proximate and emotionally close. The results are interpreted in terms of the greater importance that neolocality plays in promoting inter generational integration within more traditional cultures and more rural societies.     

Toward a Theory of Community Conflict: Factors Influencing the Initiation and Scope of Conflict*

A theory of the structure and process of community conflict is developed around concepts used in earlier works in the field. Then propositions relating to the central elements of community conflict are presented by concentrating on the primary variable: scope. Propositions constructed with other relevant structural variables are introduced. To begin with, procedures used in developing the propositions are discussed; and, then, suggestions for measuring them are given. Finally, implications of the theory in analyses of change are discussed.