The effect of outpatient methadone maintenance treatment facilities on place-based crime

Journal of Experimental Criminology - This study evaluates the effect of outpatient methadone maintenance treatment (OMMT) facilities on crime in surrounding areas. Between 2007 and 2017 in...     

Evolving Market Efficiency with an Application to Some Bulgarian Shares

With new technically advanced methods and computers at our disposal, the efficient market hypothesis is once again being debated. At the same time, we are witnessing an unprecedented growth in both existing and new financial markets. These new markets are often in economies which have just recently embraced free market economics; we term these stock markets infant markets. Such stock markets are obviously not efficient in allocating the supply of savings to productive capital. We do not test whether or not these infant markets are informationally efficient, but instead examine whether and how they are becoming more efficient. We propose modelling the excess returns of individual securities using a multi-factor model with time-varying coefficients and generalised auto-regressive conditional heteroskedastic (GARCH) errors. If the markets are becoming more informationally efficient or the agents are learning, we would expect this to manifest itself as the time-varying coefficients becoming more stable as time increases. We test our model using data on four Bulgarian shares. First, we estimate an AR(2) model and a GARCH-M(1,1) model for the shares. Then, we estimated our AR(2) model with time varying coefficients and GARCH type errors. We find varying levels of efficiency and varying speeds of movement towards efficiency within our sample of four shares.     

Project USA: American competitiveness and what must be done to restore it

The United States today faces a loss of influence as a world power, a reduction in American independence as a policymaker, and a decline in the standard of living on which Americans have come to depend. History teaches that nations weaker and less productive than the United States can rise to become economic powerhouses and rapidly increase their standards of living. History also teaches that nations failing to recognize their fundamental problems will inevitably decline. American politicians must face what is abundantly clear: the United States is losing ground and must act quickly to reverse its course. This White Paper outlines what must be done. Information about the nation's current status must be analyzed and communicated. Incentives to improve the level of competence in government must be provided and maintained. The emphasis of government policy must be changed to reflect broad economic and technological interests as opposed to special interests. Savings must be encouraged and increased. Infrastructure must be improved Tax laws must be modified to help bring these changes about. Economic and technological issues must be elevated to the importance they require. American thinking must reflect the new realities: that the age of leadership through military power is over, that the requirements for success in the world of the 1990s and beyond require a sound and growing economy that is internationally competitive. The US can accomplish these goals only through foundation-shaking, comprehensive, fundamental changealong the lines we propose herein.This paper is the executive summary (with minor editing modifications) of a white paper that is available from Cornell University's Johnson Graduate School of Management.     

'Political Correctness': Pauline Hanson and the Construction of Australian Identity

In Australia there has been a great deal of discussion in recent years of something called ‘political correctness’. This term is an insidious phrase applied to academic humanists, who, it is frequently said, do not think independently but rather according to norms established by a cabal of ‘correct-thinking’ leftists. These norms are supposed to be overly sensitive to racism, sexism and the like, instead of allowing people to debate in what is supposed to be an ‘open’ manner (Said 1994:58). This article asks why Australia has witnessed a backlash against ‘political correctness’ at this point of time. Why has Hanson been able to mount a sustained attack on ‘political correctness’ and why has John Howard's response been muted? The article suggests notions of identity and difference are at the centre of the recent debate — the rhetoric has highlighted the politics of division while obsuring the issues of those marginal to the mainstream.