The thesis of this study is that as a result of increased inequalities in welfare rules, the 1996 welfare reform act not only enhanced incentives for poor families to move but also (and perhaps more ...important) created disincentives for them to stay in "race to the bottom" states. In testing this thesis, we evaluated the mediating and moderating roles of state economic development and family structure. We merged data from three main sources: the 1996-1999 panel of the Survey of Income and Program Participation, the Urban Institute's Welfare Rules Database, and state economic data from the Bureau of Labor Statistics. Modeling both destination (pull) and departure (push) effects of welfare policy measures and selected covariates in a nested discrete-time event-history migration analysis, we found robust support for the thesis that stringency in state welfare-eligibility and behavior-related rules stimulated interstate out-migration of poor families in the United States. However, poor families were not drawn to states with relatively more-lenient welfare rules, although stringency in state welfare dollar benefits inhibited in-migration and state unemployment patterns may have conditioned the migration effects of welfare-reform rules on the choice of destination. Single mothers were not more directly affected by welfare-eligibility and behavior-related rules than were poor married couples.
Recent evidence shows that commonality in liquidity
decreases at the aggregate level in a quote-driven specialist market during periods of market stress. Specialists and dealers in quote-driven ...markets have an affirmative obligation to provide liquidity, even if prices are falling precipitously. The purpose of our study is to investigate commonality in liquidity in a market structure without any affirmative obligation to provide liquidity (i.e., in an order-driven market). We collect intra-day data from one of the world's largest and most active order-driven markets, the Stock Exchange of Hong Kong (SEHK), and find that commonality
increases during periods of market stress. We also show that larger firms tend to be more susceptible to changes in commonality than smaller firms. We hypothesize that order-driven markets behave differently from quote-driven markets under stress because order-driven market makers have a free exit option.
The recent decrease of the male-female mortality gap in Western Europe has been accompanied by changes in the life style, educational level, family roles and employment of women. In this paper we try ...to find out whether a relationship indeed exists between the increase in gender equality and the decrease in the male/female mortality difference. We used regional-level data for the Netherlands for the periods 1980-83 and 1996-99 on gender differences in life expectancy, by age group and cause of death, and various measures of gender inequality on the same regional level. In doing this we followed as far as possible a framework recently developed by Ingrid Waldron to analyse changes in gender differences in mortality in the US. The cross-sectional analyses showed that in 1980-83 it was rather socioeconomic than gender role variables that were important in explaining gender difference in mortality, while in the period 1996-99, it was the other way around.
In this study, a market segmentation approach is developed and applied to analyze U.S. households' cheese purchases. The segmentation is based on household interpurchase time, or the hazard rate of ...purchases. In this study, four segments have been discovered in the U.S. market for household cheese purchases. Two of the segments jointly represent about 40% of all cheese-purchasing households and are characterized as frequent buyers with an average interpurchase time of 2 weeks. These frequent-purchase households are larger in size, have greater incomes, have a smaller proportion of African Americans, and are insensitive to coupons. They are often described in the marketing literature as loyal customers. In contrast, the other two segments, which jointly represent about 60% of the households, are characterized by infrequent buyers with an average interpurchase time of 6 weeks. These infrequent-purchase households are smaller in size, have less income, have a higher proportion of African Americans, and are sensitive to coupons. Marketing promotions typically target the infrequent-purchase households. EconLit citations: D12, C51, C41.
This paper examines the question of whether foreign direct investment (FDI) creates or replaces international trade. Theoretical and empirical studies in the past have shown that FDI tends to replace ...trade, but more recent evidence suggests the opposite, that is, FDI creates and complements trade. We analyse the outward investment of Japan and the United States to 29 and 32 countries respectively for the period 1996 to 1999. Our analysis indicates that trade creating effect dominates on the whole, and that this effect also varies significantly across countries.
In the face of declining rates of primary and secondary school enrolment and increasing post-secondary school enrolment rates, the Nigerian government introduced the free universal basic education ...programme in 1999. To understand better the economic forces underlying the recent trends in school enrolment rates and appraise the new education policy from the perspective of private efficiency returns, I estimate the private returns to schooling associated with levels of educational attainment for wage and self-employed workers using data from the General Household Survey. The estimates for both men and women are small at primary and secondary levels, 2-3% and 4%, respectively, but are substantial at post-secondary education level, 10-15%. Inter-generational returns to schooling decline for primary education but rise for post-secondary education. These schooling return estimates may account for the recent trends in school enrolments. Thus, increasing public investment to encourage increased attendance in basic education is not justifiable on grounds of private efficiency, unless investments to increase school quality have higher private returns. With high private returns to post-secondary schooling, students at this level should pay tuition to recoup more of the public costs of schooling, which may be redistributed to poor families through scholarships.
Celotno besedilo
Dostopno za:
BFBNIB, DOBA, IZUM, KILJ, NUK, PILJ, PNG, SAZU, SIK, UILJ, UKNU, UL, UM, UPUK
An overview of the Section 1115 welfare reform and evaluation activity conducted by states during the Bush and Clinton administrations is presented, ending in Aug 1996 when the Personal ...Responsibility and Work Opportunity Reconciliation Act was passed by Congress.
Die Ukraine ist ein Land mit großen regionalen Unterschieden. Eine Analyse der Finanzströme zwischen der zentralstaatlichen und der regionalen Ebene für die Jahre 1996 bis 1999 zeigt, dass Einkommen ...von relativ reichen zu relativ armen Regionen umverteilt und hierbei die regionale wirtschaftliche Konvergenz gefördert wurden. Dabei konnte auch ein positiver Effekt auf die Wirtschaftsleistung erzielt werden.
The purpose of this study is to investigate the relation between investor protection, adverse selection, and the probability of informed trading. Previous research has established a direct relation ...between investor protection and firm liquidity, measured by bid-ask spreads and depths. In this study, we test the hypothesis that adverse selection is the mechanism through which poor investor protection leads to higher costs of liquidity. The Hong Kong equity market provides a unique opportunity to compare adverse selection differences across distinct investor protection environments, holding constant the trading platform and currency. Using various bid-ask spread decomposition models and probability of informed trading estimates, we confirm the hypothesized relation between investor protection quality and adverse selection costs. These findings contribute to the literature by establishing one of the links in the chain connecting investor protection to firm valuation.
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