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What would have been the hypothetical effect of monetary policy shocks had a country never joined the euro area, in cases where we know that the country in question actually did join the euro area? It is one thing to investigate the impact of joining a monetary union, but quite another to examine two things at once: joining the union and experiencing actual monetary policy shocks. The authors propose a methodology that combines synthetic control ideas with the impulse response functions to uncover dynamic response paths for treated and untreated units, controlling for common unobserved factors. Focusing on the largest euro area countries, Germany, France, and Italy, the authors find that an unexpected rise in interest rates depresses inflation and significantly appreciates exchange rate, whereas gross domestic product (GDP) fluctuations are less successfully controlled when a country belongs to the monetary union than would have been the case under the independent monetary policy. Importantly, Italy turns out to be the overall beneficiary, since all three channels – price, GDP, and exchange rate – deliver the desired results. The authors also find that stabilizing an economy within a union requires somewhat smaller policy changes than attempting to stabilize it individually, and therefore provides more policy space.

Articulation of a vision is commonly held to be a critical component of theories of outstanding leadership – both transformational and charismatic leadership. Although there is reason to suspect that vision contributes to leader performance, less is known about the nature and origin of viable visions. In the present chapter, we argue that leaders’ visions can be viewed as a prescriptive mental model reflecting beliefs about the optimal functioning of an organization. To test this proposition, outstanding leaders possessing two contrasting types of prescriptive mental models were identified: ideologues whose models stress the maintenance of extant standards and charismatics whose models stress adaptive change. These two types of prescriptive mental models were associated with distinct patterns of leader behavior in a sample of notable historic leaders. The implications of these findings are discussed with respect to current theories of outstanding leadership.

Synthetic patient data produced by Synthea was described in Chapter 6. That data is used to create a baseline for all patients, palliative patients, and deceased palliative patients. Distributions of comorbidities across the patient groups are examined and demographic characteristics. The factors used in palliative care groupings are presented with the synthesized data fields used. The size of the palliative population is again estimated to establish validity.

Purpose: Sexual minority youth are more likely than their heterosexual peers to consider and attempt suicide, in part due to victimization experienced within schools. While existing research suggests that rates of school victimization and suicidality among sexual minority students vary by school and community context, less is known about variation in these experiences at the state level.

Methodology: Using data from a large, representative sample of sexual minority and heterosexual youth (2017 Youth Risk Behavior States Data, n = 64,746 high school students in 22 states), multilevel models examine whether differences between sexual minority and heterosexual students in victimization and suicide risk vary by state-level policies.

Findings: Results suggest that disparities between sexual minority and heterosexual boys in bullying, suicide ideation, and suicide attempt are consistently smaller in states with high levels of overall policy support for LGBTQ equality and nondiscrimination in education laws. Sexual minority girls are more likely than heterosexual girls to be electronically bullied, particularly in states with lower levels of LGBTQ equality. Disparities between sexual minority and heterosexual girls in suicide ideation are lowest in high equality states, but state policies are not significantly associated with disparities in suicide attempt among girls.

Value: Overall, findings suggest that state-level policies supporting LGBTQ equality are associated with a reduced risk of suicide among sexual minority youth. This study speaks to the role of structural stigma in shaping exposure to minority stress and its consequences for sexual minority youth's well-being.

Research has consistently shown that the children of business owners are more likely to become business owners themselves. However, what mechanism(s) underlies this intergenerational correlation is still not clear. In this research I assess the importance of several mechanisms proposed to drive the children of business owners to expect to become business owners.

Quantitative analyses of representative data from the 1988 to 1992 National Education Longitudinal Study are employed.

Results are inconsistent with arguments asserting that the children of business owners expect to become business owners because of: the transmission of human capital or financial capital; the expectation of inheriting a business; a heightened awareness of the viability of business ownership; or preferences for having lots of money, leisure time, being successful in work, or steady employment. Findings are consistent with the notion that the intergenerational correlation in business ownership is a result of shared preferences and/or traits, and this effect is particularly strong when accompanied by awareness of paternal business ownership.

Identifying which mechanism underlies the intergenerational transmission may inform how to increase rates of business ownership, particularly among underrepresented groups, which is a matter of increasing policy interest. However, our understanding is limited because: the intergenerational transfer is consistent with numerous mechanisms; and employment outcomes are often used to make inferences about preceding processes. This chapter focuses on expectations that precede outcomes to clarify which mechanism operates in one stage of the transmission process.

Lai, Li, Conover, and Wu (2010) propose a four-factor financial distress model to explain stock returns in the U.S. and Japanese markets. We examine this model in the stock markets of Australia, and six Asian markets (Hong Kong, Indonesia, Korea, Malaysia, Singapore, and Thailand). We find broad empirical support for the four-factor financial distress risk asset-pricing model in those markets. The four-factor financial distress asset pricing model improves explanatory power beyond the Fama–French (1993) three-factor asset pricing model in six of the seven Asian-Pacific markets (12 of 14 portfolio groupings), while the Carhart (1997) momentum-based asset pricing model only improves explanatory power beyond the Fama–French model in three of the seven markets (4 of 14 portfolio groupings).