Public Policy Commons^™

Israeli Bank Shares Arrangement (Hesder Hamenayot Habankayot), Natalie Leonard

Journal of Financial Crises

From 1980 to 1983, Israeli consumer prices more than doubled every year and the shekel lost more than 50% of its value annually. This high inflation and currency devaluation posed an extraordinary challenge for Israel’s biggest banks. They needed to grow their capital bases to keep up with the rising market value of their assets, but investors needed protection against the continually declining value of the local currency. Banks’ solution was to regularly issue new, nonvoting shares in extraordinary amounts while ensuring investors a high return by regularly buying their own shares to manipulate prices. The government tacitly supported the …

Ireland 2009 Recapitalization Program For Financial Institutions, Steven Kelly

Journal of Financial Crises

At the November 2008 height of the Global Financial Crisis, Ireland’s Department of Finance announced a willingness to inject capital into the six largest banks. This announcement followed the issuance of a blanket guarantee of those banks’ liabilities in September 2008. After broadly designing the potential investments in 2008, the Irish government came to agreements with Bank of Ireland and Allied Irish Banks in February 2009 to inject €3.5 billion ($4.5 billion) in each bank in exchange for preferred equity stakes. The government funded the investments from the funds of the National Pensions Reserve Fund, something it would secure the …

Indonesia Joint Recapitalization Of 1999, Vaasavi Unnava, Ariel Smith

Journal of Financial Crises

The Indonesian government implemented a joint recapitalization program in 1999 to aid some of its private banks struggling with the effects of the Asian Economic Crisis. Nine banks were eligible, and seven ultimately participated. The program was voluntary; in order to participate, bank managers had to pass a test proving that they were competent enough to run their bank and create a three-year plan for the bank’s operations subject to independent assessment. All of the bank participants were able to return to the 4% minimum capital adequacy ratio by the end of the program.

Hungary Recapitalization Scheme, Alec Buchholtz

Journal of Financial Crises

In the midst of the global financial crisis in October 2008, the Magyar Namzeti Bank (MNB), the Hungarian national bank, noticed a selloff of government securities by foreign banks and a large depreciation in the exchange rate of the Hungarian forint (HUF) in FX markets. Hungarian banks experienced liquidity pressure due to margin calls on FX swap contracts, prompting the MNB and Minister of Finance to seek assistance from the International Monetary Fund (IMF), European Central Bank (ECB) and the World Bank. The IMF and ECB approved the Hungarian government’s (the State) requests in late 2008 to create a €19 …

The Hungarian Bank Recapitalization Program, Junko Oguri

Journal of Financial Crises

Hungary implemented a number of new policies from the late 1980s to the early 1990s, shifting from a centrally planned economy to a market economy. Despite the top-down market reforms, Hungary lacked the knowledge to build a fully functional financial system. Eventually, an economic turmoil caused by the collapse of eastern markets and fragility in the financial system led to the banking crisis of 1992–1993, revealing the undercapitalization of the financial system. The government implemented the recapitalization, or “bank consolidation,” as part of a stabilization program. It injected capital into banks in three stages—in December 1993, May 1994, and December …

Hong Kong Contingent Bank Capital Facility (Cbcf), David Tam, Steven Kelly

Journal of Financial Crises

On October 14, 2008, Hong Kong’s financial secretary announced the Hong Kong Monetary Authority (HKMA) would use Hong Kong’s Exchange Fund to provide standby capital to banks if needed. The Contingent Bank Capital Facility (CBCF) was available until the end of 2010 to shore up depositor and investor confidence in the local banking sector and commenced in parallel with a broader set of announced measures including a consumer bank deposit guarantee. Twenty-three locally incorporated “Authorized Institutions” were eligible to access CBCF capital upon request. The provisioning of CBCF capital would be accompanied by enhanced oversight from the HKMA. The Hong …

Greece (2008) – Capital Injections, Manuel León Hoyos

Journal of Financial Crises

In October 2008, in the midst of the Global Financial Crisis (2007–09), the Greek government announced a €28 billion ($36 billion) government package. Greek Law 3723/2008, “Enhancement of Liquidity in the Economy in Response to the Impact of the International Financial Crisis,” was passed and approved under European Union State Aid rules. The Greek law provided for three voluntary programs: recapitalizations (€5 billion), guarantees (€15 billion), and securities (€8 billion). This case study exclusively examines the recapitalization program. In this program, the Greek government acquired convertible preferred shares in banks in order to build and maintain banks’ Tier 1 capital …

Germany Soffin Capital Injections, Priya Sankar

Journal of Financial Crises

The insolvency of Lehman Brothers in September 2008 and the subsequent global liquidity crisis spurred the German state to pass the Financial Market Stabilization Fund Act (Finanzmarktstabilisierungsfondsgesetz, “FMStFG”) establishing the Federal Agency for Financial Market Supervision (Bundesanstalt für Finanzmarktstabilisierung), or FMSA. Created in October 2008, it provided government support to ailing financial institutions. The FMSA supported German banks and maintained the stability of the German banking system, in part by establishing the Financial Market Stabilization Fund (Sonderfunds Finanzmarktstabilisierung), or SoFFin. SoFFin could provide capital injections and risk shield measures of €80 billion and also possessed a guarantee provision of up …

France Société De Prise De Participation De L’État (Sppe), Devyn Jeffereis

Journal of Financial Crises

As the Global Financial Crisis deepened, the bankruptcy of Lehman Brothers on September 15, 2008, and ensuing contagion began affecting the French economy and financial system. France experienced declines in major economic indicators such as GDP, household consumption, and investment. In addition, the ensuing credit crunch in financial markets resulted in the seizing up of various lending markets. Due to conservative business practices, a consolidated market structure, and a sound regulatory framework, the French banks were relatively better situated than their European counterparts to weather the crisis. However, the French authorities instituted a precautionary recapitalization scheme in order to “restore …

Finland’S 1992 Capital Injection, Kaleb B. Nygaard

Journal of Financial Crises

Following a large-scale deregulation of the financial sector during the 1980s and subsequent massive credit expansion, a banking crisis in Finland caused a sharp contraction in the economy in the early 1990s. To prevent the collapse of the banking system, the government offered FIM 8 billion in capital injections. Parliament appropriated the funds in the spring of 1992 and terms were defined in June 1992. The program was open to all banks, in proportion to their size, regardless of their solvency. In the fall of 1992, FIM 7.9 billion was deployed to 56 cooperative banks and 22 savings banks of …

Danish Capital Injections Scheme 2009 (Dk Gfc), Priya Sankar

Journal of Financial Crises

Both the international financial system and Denmark were experiencing challenges in 2007 and 2008, and they came to a head in Denmark when Roskilde Bank experienced liquidity pressures in June 2008. As it became clear that Roskilde Bank was insolvent and no private solutions would be found, and as the global financial crisis worsened leading to the bankruptcy of Lehman Brothers, the Danish government decided to take stronger action. To ensure the short-term survival of Roskilde Bank, the national bank issued a non-limited credit facility. After it passed a deposit guarantee scheme in 2008 and established a Financial Stability Company, …

Austria: Finanzmarktstabilitätsgesetz (Finstag), Claire Simon

Journal of Financial Crises

Following the adoption of a joint framework by euro area countries in response to the intensifying financial crisis in October 2008, Austria enacted a package of measures including the Financial Market Stability Act (Finanzmarktstabilitätsgesetz, or FinStaG). In addition to permitting nationalization under certain circumstances, FinStaG allowed the Austrian government to use six specific measures to recapitalize credit institutions operating in Austria and Austrian insurance companies. According to FinStaG, €15 billion ($22 billion) could be used for this purpose, though this amount was later increased. Eight institutions received support through FinStaG, and the government granted capital and liquidity support totaling €21 …

Recruitment Machines, Community Power And Political Return On Investment (Proi): Economic Development Policy In The Age Of Amazon, Eric G. Griego Montoya

Political Science ETDs

ABSTRACT

A fundamental policy choice in economic development among local policy makers is the appropriate mix of “outside” strategies that use incentives to attract companies, and “inside” strategies that invest in smaller and local businesses. Using a mixed-methods research design, including national and state surveys along with qualitative analysis of interviews conducted with policy elites, I examine the role of ideology, elites, community, competition, social capital (trust and influence), and electoral politics in these policy decisions. I use new descriptive theoretical frameworks called “recruitment machines” and “Political Return on Investment (PROI)” to describe how and why local elected officials support …

Participatory Budgeting: A Librarian’S Experience, John P. Delooper

Publications and Research

This article discusses one librarian’s experience with the Participatory Budgeting process in New York City. It includes information about how New York’s Participatory Budgeting process works, as well as Participatory Budgeting’s principles, and some discussion of how libraries have utilized PB. In addition, it includes discussion of how librarian skillsets can be especially useful for participatory budgeting.

Did Government Benefits Help Israeli Households Avoid Hardship During Covid-19? Evidence From A National Survey, Olga Kondratjeva, Talia Schwartz-Tayri, Sam Bufe, Stephen Roll, John Gal, Michal Grinstein-Weiss

Social Policy Institute Research

At the outset of the COVID-19 pandemic, the government of Israel quickly introduced aggressive social distancing measures to curb the virus spread and adapted its unemployment insurance program in response to rising unemployment rates. This study examines the relationship between household income and the experience of material hardship during the COVID-19 pandemic in Israel, and investigates how the receipt of unemployment benefits moderated the relationship between income and material hardship. Using data from a household survey, we find a negative association between household income and the experience of material hardship. Moreover, middle-income households receiving unemployment benefits were more likely to …

Signaling In Training, Megan Paul

Umbrella Summaries

What is signaling?

In a learning environment, signaling refers to cues that direct learners’ attention to specific instructional content or that emphasize how the content is organized (van Gog, 2014). Signals can be verbal (oral or written) or visual (static or dynamic images or graphics). More commonly studied examples include:

signals in written materials: underlining, italics, bold, highlighting, outlines, headings, overviews, and summaries

signals in visual materials: arrows, circles, flashing, color coding, spotlighting (graying out some content), zooming in on key content, and gestures of pedagogical agents

When signals are used only in written text (i.e., without accompanying visuals), they …

Mapping The Publics: The Production Of Spatial Knowledge And Public Interest, Paul Thomas Manson

Dissertations and Theses

Over the past decades, calls for comprehensively managing and planning ocean resources have emerged internationally and within the United States. Central to these calls is a drive to expand coastal and marine spatial planning with a particular focus on technologically mediated public involvement. These new public involvement technologies aim, more quickly and thoroughly, to solicit and analyze public values and existing uses of the coastal and marine environments. One particular technological innovation is the use of participatory geographic information systems (PGIS). These new tools allow for stakeholders, members of the public, and planning entities to collect, visualize, and interact with …

Municipal Optimization Of Short-Term Rental Regulations: The Reality Of Airbnb In South Texas Communities, Kenneth M. Culbreth Iii

St. Mary's Law Journal

Abstract forthcoming.

Secondary Traumatic Stress (Sts) – Its Impact On The Child Welfare Workforce And Strategies For Agencies To Address It, Quality Improvement Center For Workforce Development

Other QIC-WD Products

Secondary traumatic stress (STS) can mimic symptoms of post-traumatic stress disorder (PTSD) (Bride, 2007). These symptoms include having dreams and flashbacks of the traumatic event, avoiding activities or places that might remind someone of the traumatic event, having sleep issues, being irritable, difficulty concentrating, or being hypervigilant. In this video, child welfare staff share how the trauma they experience as part of their job affects them, including physical and emotional reactions and the desire to leave the field. Unfortunately, experiencing STS is very common among the child welfare workforce. Although child welfare is not the only profession that is exposed …

Afghanistan: What Now?, Rory Stewart

Perspectives@SMU

The troop surge that cost US$2 trillion and thousands of lives has only made things worse, says former UK Secretary of State for International Development Rory Stewart

Criminal Justice Update - November 2021, Patrick Mahoney

Criminal Justice Updates

The Criminal Justice Update is a monthly newsletter created by the Adams County Bar Foundation Fellow providing updates in criminal justice policy coming from Pennsylvania's courts and legislature as well as the US Supreme Court.

Contents:

• Updates from PA Governor's Office (no updates this month)
• Updates from the PA Legislature
• Criminal Law & Procedure
• Updates from the Courts
• U.S. Supreme Court (no updates this month)
• PA Supreme Court: Criminal Law & Procedure
• PA Superior Court: Criminal Law & Procedure

Organizational Change Process Milwaukee - Implementation Overview, Quality Improvement Center For Workforce Development

Other QIC-WD Products

Implementation Team

The QIC-WD worked with the Division of Milwaukee Child Protective Services (DMPCS) to establish an implementation team to lead the development and implementation of the workforce project. The implementation team was composed of representatives from Human Resources; Quality Assurance; DMCPS frontline staff, supervisors, and administrators; Department of Children and Families state office leaders, the Site Implementation Manager (SIM), and three members of the QIC-WD (representing expertise in workforce, implementation, and evaluation).

The implementation team met monthly, face-to-face for the first year of the project. During these meetings, the SIM led the team in discussions about intervention development, implementation …

Improving The Child Welfare Workforce Through Training: Common Questions And Evidence-Informed Answers From The Qic-Wd, Quality Improvement Center For Workforce Development

QIC-Tips

Training is often the first intervention child welfare agencies use to address critical workforce development issues. This QIC-Tip aims to answer child welfare agency leaders’ questions about effective training strategies to increase knowledge, enhance skills, and improve job performance. Answers are drawn from the QIC-WD Umbrella Summaries which present a synopsis of the published meta-analyses of specific workforce topics.

What broad-based training approaches can improve employee learning outcomes and job performance?

Coaching uses a structured learning process, over time, to help the learner reach specific goals. Meta-analytic research on the use of professional coaches (not managers or experienced coworkers) …

Increasing Housing Stability Through State-Funded Community Mediation Delivered By The Massachusetts Housing Mediation Program (Hmp): Evaluation Report, Madhawa Palihapitiya, David Sulewski, Kaila O. Eisenkraft, Jarling Ho

Massachusetts Office of Public Collaboration Publications

This report presents findings and recommendations from a formative evaluation of the Massachusetts Housing Mediation Program (HMP) administered by the MA Office of Public Collaboration (MOPC) at the University of Massachusetts Boston in partnership with 12 Community Mediation Centers (CMCs). The program is funded by the Commonwealth of Massachusetts and overseen by the Department of Housing and Community Development (DHCD) as part of the Baker-Polito Administration’s Eviction Diversion Initiative (EDI). The evaluation was conducted by MOPC’s research unit comprised of staff and graduate student researchers, and does not necessarily represent the views of DHCD. As a statutory state office, MOPC …

Engaging Residents In Policy And Planning For Sea Level Rise: Application Of The Action-Oriented Stakeholder Engagement For A Resilient Tomorrow (Asert) Framework, Juita-Elena (Wie) Yusuf, J. Gail Nicula, Daniel P. Richards, Ogechukwu Agim, Michelle Covi, Khairul A. Anuar

School of Public Service Faculty Publications

This chapter describes the application of the Action-oriented Stakeholder Engagement for a Resilient Tomorrow (ASERT) framework for communicating with and engaging both residents and community stakeholders in their localities’ efforts to prepare for and to respond to flooding and sea level rise. The application of ASERT incorporates communication, education/learning, and gamification elements that can be embedded into community meetings. We describe the way in which ASERT community meetings are designed (1) to provide an inclusive and engaging process that will allow residents to participate in their city’s resilience efforts; (2) to provide information about resilience in an environment that encourages …

Communicating And Co-Producing Information With Stakeholders: Examples Of Participatory Mapping Approaches Related To Sea Level Rise Risks And Impacts, Pragati Rawat, Khairul A. Anua, Juita-Elena (Wie) Yusuf, Jon Derek Loftis, Ren-Neasha Blake

School of Public Service Faculty Publications

This chapter discusses practical approaches for using participatory mapping as a tool to visualize and communicate sea level rise (SLR) and climate change risks, to share information about the vulnerability to, and threats of, climate change, and to co-produce knowledge with stakeholders. The examples presented in this chapter are from demonstrated applications in communities in Virginia (USA) that involve participatory mapping and that utilize a web-Geographic Information System (GIS). The web-GIS is innovatively combined with other technologies and participatory processes to create low-cost high-tech approaches so that even people with little to no knowledge of GIS can interact with maps …

Feasibility Of Development Of Flood Resiliency Clearinghouse Program, Commonwealth Center For Recurrent Flooding Resiliency, Mujde Erten-Unal, Carol Considine, Mark W. Luckenbach, Elizabeth Armistead Andrews

Commonwealth Center for Recurrent Flooding Resiliency (CCRFR): Reports

[Introduction]

House Bill 2187ⁱ, introduced by Delegate Keith Hodges in the 2021 session of the Virginia General Assembly, directed the Commonwealth Center for Recurrent Flooding Resiliency (CCRFR), a partnership between Old Dominion University, the Virginia Institute of Marine Science (VIMS) and the William & Mary Law School’s Virginia Coastal Policy Center (VCPC) established by Virginia Chapter 440 of the 2016 Acts of Assembly (HB 903), to evaluate the development of a Flood Resiliency Clearinghouse Program (henceforth Clearinghouse). The bill stipulated that the Center should work with the Department of Conservation and Recreation (DCR) to evaluate solutions that manage …

Organizational Change Process Milwaukee - Site Overview, Quality Improvement Center For Workforce Development

Other QIC-WD Products

The Division of Milwaukee Child Protective Services (DMCPS) of the Wisconsin Department of Children and Families (DCF) has approximately 185 State employees, responsible for the delivery of child protective services and ongoing case management services through contract agencies in Milwaukee County. DMCPS performs intake and investigative functions, while ongoing casework is managed by partner agencies in the community.

The majority of DMCPS staff work in the Access Section (hotline) and the Initial Assessment Bureau (IAB). Within the IAB was a constellation of Initial Assessment Specialists (IAS), mentors, supervisors, and program directors, who are led by the Bureau Director. While the …

One Or The Other: Parent Religiosity Or Private School Choice May Reduce Crime And Paternity Disputes In Milwaukee, Marilyn Anderson Rhames, Patrick J. Wolf

School Choice Demonstration Project

Religious faith is one of the strongest motivators known to man. For millennia, human beings have turned to a higher power to help them cope with the challenges of life and define their values and behaviors. Millions of people have died for their faith. Yet, when it comes to public education reform and research, the influence of religion is grossly underexplored. This study takes some initial steps to change that. We analyze parent survey responses from the 2008 Milwaukee Parent Choice Program (MPCP) Longitudinal Education Growth Study Baseline Report. Our analysis compares MPCP students who were matched to students from …

Challenges In The Implementation Of Africa’S Integrated Maritime Strategy (2050), Oluwafemi Sunday Kumuyi

World Maritime University Dissertations

No abstract provided.