The objective in this paper is to review several theoretical issues associated with fiscal policy and to test these theories via a reduced form real GNP equation using…
The objective in this paper is to review several theoretical issues associated with fiscal policy and to test these theories via a reduced form real GNP equation using quarterly U.S. data from 1958 through 1966. Theoretical work by Friedman, Holmes and Smith, and others suggest (for different reasons) that fiscal policy may be ineffective. Holmes and Smith point out that increases in taxes may conceivably increase aggregate demand if the demand for money depends on disposable income. Higher taxes shift the IS curve to the left as usual. However, higher taxes reduce disposable income and decrease the demand for money. With a constant money supply, the LM curve shifts to the right and the lower equilibrium interest rate increases aggregate demand. The net effect of the opposite shifts in IS & LM could conceivably be an increase in income. Similarly, lower taxes may conceivably lower equilibrium income. The argument of Friedman and others runs along different lines. They emphasize that any change in government expenditure or change in taxes may temporarily alter real income, but any “pure” fiscal policy must be accompanied by a change in government debt. The larger debt that accompanies a fiscal expansion raises interest rates and eventually reduces private demand. The fiscal expansion can allegedly “crowd out” private expenditure completely so that the net long run effect on real income is zero.
Children experience toxic stress if there is pronounced activation of their stress-response systems, in situations in which they do not have stable caregiving. Due to…
Children experience toxic stress if there is pronounced activation of their stress-response systems, in situations in which they do not have stable caregiving. Due to their exposure to multiple poverty-related risks, African American children may be more susceptible to exposure to toxic stress. Toxic stress affects young children’s brain and neurophysiologic functioning, which leads to a wide range of deleterious health, developmental, and mental health outcomes. Given the benefits of early care and education (ECE) for African American young children, ECE may represent a compensating experience for this group of children, and promote their positive development.
Unassisted childbirth, also known as “freebirth,” is when a person intentionally gives birth at home with no professional birth attendant. The limited research on…
Unassisted childbirth, also known as “freebirth,” is when a person intentionally gives birth at home with no professional birth attendant. The limited research on unassisted birth in the United States focuses on women’s reasons for making this choice. Studies suggest women are committed to birthing without a professional and that this choice is rooted in religious or natural-family belief systems. These studies do not adequately account for the ways a framework of “choice” obscures the role structural barriers play in decision-making processes. International research on unassisted childbirth finds that it is not always a first choice and may be a last resort for women who have had negative experiences with maternity care. More research on unassisted birth in the United States is needed to better understand if people face similar structural barriers. In this paper I examine how structural limitations of the US healthcare system intersect with values in decision-making processes about childbirth. Drawing on in-depth interviews with nine women who gave birth unassisted in the United States, I examine the women’s shared ideological commitments, negative experiences with health care, and barriers faced seeking care. I discovered that unassisted birth may not be a first, or even positive choice, but rather a compromise informed by ideological commitments and constrained choices. Structural barriers in the US healthcare system prevented women from having a professional birth attendant who they felt was acceptable, available, and accessible. I conclude by discussing the implications of these findings for debates about birth justice and health policy.
Historically, research shows that out-of-town buyers of real estate are informationally disadvantaged and therefore pay higher prices compared to in-town buyers. However…
Historically, research shows that out-of-town buyers of real estate are informationally disadvantaged and therefore pay higher prices compared to in-town buyers. However, with the recent advent of online housing platforms, a plethora of information about the housing market is provided for free. The purpose of this paper is to examine whether out-of-town buyers do in fact pay a premium and why, and whether this premium has decreased because of better information availability.
A hedonic regression model over a ten-year window (2005, 2015) is developed to analyze condominium transactions in Miami-Dade County. The results are validated by various robustness checks and the propensity score matching algorithm to identify a comparable control sample for 2015 in terms of relevant housing characteristics.
The results support the hypothesis that out-of-town buyers pay higher prices for real estate, compared to their local counterparts, and that both search costs and anchoring cause a premium in both years, whereas wealth only plays a significant role in 2005. The premium because of search costs, and therefore, information availability has decreased slightly over time.
This is the first out-of-town paper that compares two points in time versus a single cross-section analysis. Besides the premium caused by information asymmetry/search costs measured by distance and the anchoring effect, the regression model is extended by the wealth effect.
All seventeen had graciously agreed to my proposal to gather for a small conference to seek consensus. A generous grant from the Pierian Press Foundation would cover all of our expenses for a long weekend at a resort hotel; the only condition of the grant was that we offer our results to Reference Services Review for first publication. Over the past five years each of the seventeen had in turn accepted my challenge to answer the following question: