Inheritance and wealth composition

This paper studies the effects of variables pertaining to alternative bequest motives on the composition of households' portofolio. It relies on a 1986 survey on the assets structure of 5600 French households. The main conclusion is that bequest motives indeed influence the composition of households' wealth. However, available data does not allow one to sort out the influence of specific models of inheritance.We thank John Ermisch, Jim Lindsey and two referees for their comments and suggestions. This research benefitted from the financial support of the SPES program.     

Analysis of social pathologies in a policy context: A paradigm for action

Prevention continues to gain importance among the strategies open for governmental development of social policy. This paper offers two exploratory conceptual discussions related to prevention in social policy. The first is a representation of the policy making environment with special reference to the informational requirements for the development of policy. The second is a discussion of social pathologies, broadly defined as patterns of behavior with important negative repercussions on individuals whom we refer to as victims, and of possible strategies toward the development of (at least partial) preventive measures. The two discussions are interrelated as the shape of the second is dictated by the desiderata outlined in the first. The paper is divided into five parts:

1. Introduction: the conundrum of prevention.
2. The Development of a paradigm of the policy context.
3. Dependent variables: social pathologies.
4. Independent variables: a focus on structural determinants.
5. Conclusion: information requirements for preventive action.

     

Activity patterns and temporal niche partitioning of dogs and medium-sized wild mammals in urban parks of Xalapa,Mexico

Urban Ecosystems - Free-ranging domestic dogs are the world most common exotic carnivore species that could negatively interact with the native wildlife as predators, competitors, and disease...     

Exploring the link between integrated leadership and public sector performance

This study develops the concept of integrated leadership in the public sector. Integrated leadership is conceived as the combination of five leadership roles that are performed collectively by employees and managers at different levels of the hierarchy. The leadership roles are task-, relations-, change-, diversity-, and integrity-oriented leadership. Using data from the Federal Human Capital Survey and Program Assessment Rating Tool, we analyze the relationship between integrated leadership and federal program performance. The findings from the empirical analysis indicate that integrated leadership has a positive and sizeable effect on the performance of federal sub-agencies. The study concludes with a discussion of the implications of the findings and limitations of the study.     

Modeling stereotypes and negative self‐stereotypes as a function of interactions among groups with power asymmetries

Stereotypes is one of the most researched topics in social psychology. Within this context, negative self‐stereotypes pose a particular challenge for theories. In the current work, we propose a model that suggests that negative self‐stereotypes can theoretically be accounted for by the need to communicate in a social system made up by groups with unequal power. Because our theory is dynamic, probabilistic, and interactionist, we use a computational simulation technique to show that the proposed model is able to reproduce the phenomenon of interest, to provide novel accounts of related phenomena, and to suggest novel empirical predictions. We describe our computational model, our variables' dynamic behavior and interactions, and link our analyses to the literature on stereotypes and self‐stereotypes, the stability of stereotypes (in particular, gender and racial stereotypes), the effects of power asymmetries, and the effects of intergroup contact.     

A TIME-SERIES APPROACH FOR CONSTRUCTING EXPECTATIONS MODELS*

This article presents an efficient way of dealing with adaptive expectations models—a way that makes use of all the information available in the data. The procedure is based on multiple-input transfer functions (MITFs): by calculating lead and lag cross correlations between innovations associated with the variables in the model, it is possible to determine which periods have the greatest effects on the dependent variable. If information about k periods ahead is required, fitted values for the expectation variables are used to generate k-period-ahead forecasts. These in turn can be used in the estimation of the transfer function equation, which not only contains the usual lagged variables but also allows for incorporation of lead-fitted values for the expectation variables. The MITF identification and estimation procedures used are based on the corner method. The method is contrasted with the Almon distributed-lag approach using a model relating stock market prices to interest rates and expected corporate profits.     

Development of professional roles in the practice of public relations in Chile

Using survey responses of 577 public relation practitioners, this article examines role conceptions in Chilean public relations, as well as the effects that different individual and organizational factors have on their professional worldviews. The results show that how Chilean practitioners perceive their roles can be grouped into four different types: the long-term strategic, the short-term technical, the passive-complaisant, and the active-vigilant. In general terms, Chilean public relations practitioners distance themselves from the passive-complaisant role, giving greater importance to the other three. The findings also reveal that gender, education level, job commitment, perceived autonomy, organization type, and geographical location are the factors that better predict Chilean PR professional roles, while hierarchy level and organization's reach do not directly affect their perceptions.     

Boom and bust: housing equity withdrawal and consumption decisions and their impacts on household wealth

The authors examine whether the surge in housing refinance and equity withdrawal generated by the housing boom disproportionately affected older households in terms of decisions on whether to refinance, whether to withdraw equity, and how much to withdraw, and how in turn these decisions affected their household wealth. Using the Federal Reserve's Survey of Consumer Finances, the authors found the highest rates of refinancing and cashing out equity among older (although not necessarily the oldest) households. The authors also found that appreciation in house value, being a baby boomer, and having higher household income were the factors that most increased the probability of refinancing and withdrawing equity. Amounts cashed out were higher among older than among younger households. Ordinary least squares (OLS) estimates showed that amounts withdrawn were increased by price appreciation, financial assets, and income, along with being a "pre-boomer" or "early boomer." Older cohorts displayed larger wealth effects than younger ones, but their withdrawn equity was a smaller percentage of total net worth. A relatively small percentage of respondents' dollars was used for consumption, and most dollars were used for home improvement, other investment, or debt repayment. However, massive equity withdrawal and the subsequent collapse of housing prices have caused housing leverage to soar, putting some homeowners "underwater" and jeopardizing others' retirement preparedness. The ensuing housing finance crisis raises numerous policy issues, from reform of mortgage underwriting, securitization, servicing, and foreclosure procedures, to potential limitations on borrowing against unrealized housing equity gains, to enhanced government transfers for distressed older homeowners, to local and state revenue policy changes.