Social and Behavioral Sciences Commons^™

In Defense Of The Community Reinvestment Act, Jill Littrell, Fred Brooks

jill l littrell Dr.

In the wake of the 2008 global financial crisis, the Community Reinvestment Act (CRA) of 1977 has probably received more media attention in the past two years than it garnered cumulatively over the previous 30 years. Numerous conservative pundits and commentators have blamed the CRA for the subprime crisis and the subsequent world-wide financial meltdown. Most social workers are probably unaware that the CRA is probably responsible for more investment, loans, and wealth creation in low and moderate income neighborhoods than any other single piece of federal legislation over the past 40 years. This paper highlights the following features about …

Eu-China Economic Relations: Interactions And Barriers, Zheng Lu

Zheng Lu (Chinese: 路征)

EU-China economic interactions became more and more frequent in the past decades, nowadays EU and China are main trade partner for each other. This paper analyzed EU-China economic interactions from three dimensions: bilateral governmental interactions, trade and investment flows as well as barriers to trade and investment. Findings show that EU-China close relationship is particularly based on goods trade especially on intra-industrial trade of manufacturing industrial products, and trade imbalance is arising from trade in Machinery and Transport Equipment and Other Manufactured Goods (e.g., Clothing and clothing accessories); This paper also found that there exist a myriad of trade and …

Tackling Poverty By Ethiopians Or Globalization Wave: A Book Review, Asayehgn Desta

Asayehgn Desta

No abstract provided.

Cultural Competency: Across Cultures Between Physicians And Patients, Debbie Salas-Lopez

Debbie Salas-Lopez MD, MPH

No abstract provided.

A Culture Of One. Every Healthcare Encounter Is A Cultural Encounter, Debbie Salas-Lopez

Debbie Salas-Lopez MD, MPH

No abstract provided.

Access To Hospital Interpreter Services For Limited English Proficient Patients In New Jersey: A Statewide Evaluation, Glenn Flores, Sylvia Torres, Linda Holmes, Debbie Salas-Lopez, Mara Youdelman, Sandra Tomany-Korman

Debbie Salas-Lopez MD, MPH

CONTEXT/OBJECTIVES: We surveyed New Jersey (NJ) hospitals to assess current language services and identify policy recommendations on meeting limited English proficiency (LEP) patients' needs.

METHODS: Survey with 37 questions regarding hospital/patient features, interpreter services, and resources/policies needed to provide quality interpreter services.

RESULTS: Sixty-seven hospitals responded (55% response rate). Most NJ hospitals have no interpreter services department, 80% provide no staff training on working with interpreters, 31% lack multilingual signs, and 19% offer no written translation services. Only 3% of hospitals have full-time interpreters, a ratio of 1 interpreter:240,748 LEP NJ residents. Most hospitals stated third-party reimbursement for interpreters would …

A Line In The Tar Sands: Struggles For Environmental Justice, Toban Black, Stephen D'Arcy, Tony Weis, Joshua Russell

Stephen D'Arcy

(Edited Collection.) The fight over the tar sands in North America is among the epic environmental and social justice battles of our time, and one of the first that has managed to marry quite explicitly concern for frontline communities and immediate local hazards with fear for the future of the entire planet. Tar sands “development” comes with an enormous environmental and human cost. But tar sands opponents—fighting a powerful international industry—are likened to terrorists; government environmental scientists are muzzled; and public hearings are concealed and rushed. Yet, despite the formidable political and economic power behind the tar sands, many opponents …

Transportation Costs And U.S. Manufacturing Fdi, Joseph Daniels, Marc Ruhr

Joseph P Daniels

In empirical models of foreign direct investment (FDI), distance is most often used to proxy for transportation costs and other pure-trade costs. Given that distance is time invariant but transportation costs are not, this approach is less than satisfactory when actual transportation costs rise and fall over time.The contribution of this work is to explicitly control for transportation costs and thereby better understand their impact on FDI. We explore the impact of shipping costs on total US FDI stocks abroad, manufacturing stocks and service stocks using measures of sea-shipping and air-shipping costs in a Hausman–Taylor model that controls for endogeneity …

Testing The Fisher Effect As A Long-Run Equilibrium Relationship, Joseph Daniels, Farrokh Nourzad, Robert Toutkoushian

Joseph P Daniels

The recent advances in the econometrics of integrated time series by Johansen are applied to the much examined Fisher effect. While the existing literature is concerned with whether there is a stable long-run equilibrium relation between the nominal rate of interest and inflation, the existence of a one-to-one relation along this path is also tested. Moreover, it is found that in the long run there is a unidirectional causality from the inflation rate to the rate of interest. However, in the short-run there is a feedback (bi-directional causality) between the two variables.

Shaping A New International Financial System: Challenges Of Governance In A Globalising World, Karl Kaiser, John Kirton, Joseph Daniels

Joseph P Daniels

An examination of the professional economic merits, practical feasibility, and underlying politics of the hotly contested competing initiatives for strengthening the international financial system. Challenging much of the conventional wisdom, it offers a comprehensive account of the traditional enduring financial issues facing the G7 and the fundamental architectural elements of the new systemic design. The text contains an array of contributions from experts from all G7 countries and from emerging markets outside.

The G8’S Role In The New Millennium, Michael Hodges, John Kirton, Joseph Daniels

Joseph P Daniels

This collection of papers from two conferences on the role of the G8 provides a critical, scholarly assessment of the G's prospects in addressing challenges of the post Cold War world of globalization and deepening integration. The text explores and challenges the logic of contemporary critics to offer improved explanations of the circumstances under which G7/G8 is effective in addressing its traditional agenda, the new financial challenges of the modern era, and the broader once domestic issues of employability and crime that now occupy a central place on the international agenda.

U.S. Corporations In Globalization, John Davis, Joseph Daniels

Joseph P Daniels

No abstract provided.

The Nonstationarity Of Money And Prices In Interdependent Economies, Joseph Daniels, David Vanhoose

Joseph P Daniels

In most nations, paths of monetary aggregates and prices consistently depart from stationary trends. This paper shows that this is a fundamental implication when monetary authorities of interdependent countries seek to smooth their home output and prices in the presence of incomplete world output-market integration and structural asymmetries. Using a two-country model with interdependent output supply schedules, we show that this conclusion holds whether the exchange rate floats or is fixed. It also holds if monetary policies are coordinated. Therefore, optimal monetary policy choices by central banks yield stationary paths for money and prices only under very specific conditions.

Policy Undertakings By The Seven ‘Summit’ Countries: Ascertaining The Degree Of Compliance, George Von Furstenberg, Joseph Daniels

Joseph P Daniels

This paper sifts through the economic-summit declarations, issued annually since 1975, to determine how credible the announced government commitments would have deserved to be, judging by the degree to which they have been fulfilled. Measuring compliance with fuzzy undertakings imposing imprecise obligations was assisted by fitting nonlinear membership functions to allow partial credit. The average scores assigned to the 203 undertakings that could be evaluated through 1989 were so low that the joint null hypothesis of “no summit ambition” and “no summit effect” could barely be rejected. However, there were notable differences by summit, country, and type of issue.

Openness, Central Bank Independence, And The Sacrifice Ratio, Joseph Daniels, Farrokh Nourzad, David Vanhoose

Joseph P Daniels

Traditional explanations of the negative correlation between openness and inflation presume that an inverse relationship between the degree of openness and the sacrifice ratio reduces the inflation bias of discretionary monetary policy. Temple (2002) concludes, however, that such a relationship fails to emerge in cross-country data. Our analysis of the same cross-country data considered by Temple indicates that once the degree of central bank independence and its interaction with greater openness is considered, there is an unambiguous positive relationship between openness and the sacrifice ratio. In addition, increased openness lessens the positive effect of central bank independence on the sacrifice …

The Determinants Of Immigration-Policy Preferences In Advanced Economies: A Cross-Country Study, Joseph Daniels, Marc Von Der Ruhr

Joseph P Daniels

This paper employs survey data to examine the determinants of immigration-policy preferences among ten advanced economies. Ordered probit specifications suggest that skill level is a robust determinant of immigration-policy preferences and that less-skilled workers are more likely to express a preference for policies that restrict immigration. The results also suggest that older individuals, members of trade unions, and those who classify their political ideology as conservative are more likely to favor limiting immigration while non-citizens are less likely to favor such policies. Individual country-level regression results vary, in particular with regard to the influence of trade union member- ship, which …

Economic Summit Declarations, 1975-1989: Examining The Written Record Of International Cooperation, George Von Furstenberg, Joseph Daniels

Joseph P Daniels

This study audits commitments contained in economic declarations made following fifteen annual economic summit meetings of the United States, Japan, Germany, France, the United Kingdom, Italy, and Canada from 1975 to 1989. It concludes that country executives make commitments in good faith but that subsequent compliance is impeded domestically by lack of control over the instruments of implementation and internationally by the absence of specified supporting policies or acts of international coordination. In addition, the language used in the declarations necessarily reflects the exigencies of diplomacy and is therefore usually imprecise. Even though the credibility of summit undertakings is generally …

Regional Vs. Global Financing Strategies For U.S. Mnes, Joseph Daniels, Walid Hejazi, Marc Ruhr

Joseph P Daniels

Despite declining in 2001, foreign direct investment (FDI) surged during the 1990s. As a result, current levels of FDI flows are triple their 1990 levels. It is well documented in the literature that FDI occurs in large part among countries that are geographically close. It is also well established that the NAFTA had a significant impact on both U.S. FDI flows and hence FDI stocks. In addition, tax policies and tax treaties have been shown to be important drivers of U.S. FDI. The analysis presented in this paper confirms these earlier results. We extend the analysis, however, to show that …

Challenges And Contributions To The Conventional Wisdom, Karl Kaiser, John Kirton, Joseph Daniels

Joseph P Daniels

No abstract provided.

American Macromanagement Issues And Policy, Joseph Daniels, John Davis

Joseph P Daniels

No abstract provided.

Money, Monetary Policy, Productivity And Inflation: A Dynamic Analysis, Abdur Chowdhury

Abdur R. Chowdhury

No abstract provided.

The Velocity Of Us M2 In The 1990s: Some Further Evidence, Abdur Chowdhury, Mark Wheeler

Abdur R. Chowdhury

This paper investigates the behaviour of M2 velocity in recent years with special emphasis on the post-1989 period. Unlike previous studies in this area, M2 velocity is analysed in the context of a small vector autoregressive (VAR) model which includes income, prices, interest rates, and money growth volatility. The hypothesis of a structural shift in M2 velocity associated with the post-1989 period is rejected by the VAR model. This suggests that the unusual behaviour of M2 velocity since 1989 may be traced to the variability in its determinants, rather than to a shift in the process generating velocity. Variance decompositions …

Is Money More Productive In A Developing Economy?, Abdur Chowdhury, Yingqui Liu

Abdur R. Chowdhury

This paper tests the frequently cited hypothesis that money is more productive in a developing economy relative to a developed economy. Output elasticity of money is estimated for 20 countries over the 1977-92 sample period. These countries represent various stages of economic development. Two important conclusions can be derived from the results. First, irrespective of the monetary aggregate employed, the output elasticity of money is extremely low for all 20 countries. Second, the elasticity figure is sensitive neither to the stage of economic development in a particular country nor the period of time under consideration. Consequently, it can be argued …

Purchasing Power Parity In The Major Ems Countries: The Role Of Price And Exchange Rate Adjustment, Abdur Chowdhury, Fabio Sdogati

Abdur R. Chowdhury

In this paper we address the issue of whether the European Monetary System has contributed to real exchange rate stability between France, Germany, and Italy. We first ask whether bilateral PPP holds between any pair of these countries and between each of them and the United States. We find that PPP never holds before the EMS was created, and that it does among EMS countries, but not relative to the U.S. since. Next we assess the role of relative prices and exchange rates in the adjustment process toward PPP. We find that PPP between France and Germany is solely due …

The Demand For Money In A Small Open Economy: The Case Of Switzerland, Abdur Chowdhury

Abdur R. Chowdhury

The paper uses cointegration analysis to investigate the demand for money in Switzerland in the context of an open economy. It considers the general process of financial asset substitution and tests for the relevance of an exchange rate and a foreign interest rate variable in a conventional money demand equation. The results show that the variables entering into the demand for either monetary base or narrow money equation may not form a cointegrated system unless the exchange rate or foreign interest rate variable is included. This provides support to both the currency substitution and capital mobility hypotheses.

Review Of International Business: Competing In The Global Marketplace, Abdur Chowdhury

Abdur R. Chowdhury

No abstract provided.

The Behavior Of Closed-End Country Fund Prices In The Asian Nies, Abdur Chowdhury

Abdur R. Chowdhury

This paper tests the impact of international investment restrictions on closed-end country funds in four Asian countries - Hong Kong, Korea, Singapore and Taiwan. The results show that the relationship between the premiums or discounts on closed-end country funds and announcements of changes in investment restrictions is sensitive to how individual countries respond to foreign innovations. A strong relationship exists in countries with large restrictions on investment - Korea and Taiwan. However, the relationship seems to break down in countries where there are virtually no restrictions on investment - Hong Kong and Singapore.

Political Surfing Over Economic Waves: Parliamentary Election Timing In India, Abdur Chowdhury

Abdur R. Chowdhury

This paper develops a political-economic interaction model for India for the 1960-91 sample period. India presents an ideal case for testing the political business cycle theory in the context of a parliamentary democracy with endogenous election timing. Using a mixed qualitative and continuous variable simultaneous equation estimation procedure, the paper considers the two-way interaction that results from the control by the cabinet over election timing. Several conclusions can be derived from this study. First, the results indicate the presence of business cycle-electoral interaction in India. Second, there is strong support for the surfing hypothesis, implying that the Indian cabinet tends …

Monetary Policy, Fiscal Policy And Aggregate Economic Activity: Some Further Evidence, Abdur Chowdhury

Abdur R. Chowdhury

No abstract provided.

The Infant Mortality-Fertility Debate: Some International Evidence, Abdur Chowdhury

Abdur R. Chowdhury

No abstract provided.