Stagflationary bias and the interaction of monetary policy and wages in a unionized economy

Economics Research Centre, School of Economic and Social Studies, University of East Anglia, Norwich NR4 7TJ, U.K. The paper investigates the claim of Gylfason and Lindbeck (Public Choice, 1994) that a stagflationary bias arises from the interaction between monetary policymaking and wagesetting if, among other things, the government and unions share a concern for inflation. It uses a game theoretic model of this interaction, in which the government plays an economy-wide union. Though simple, this nests several other models as special cases. In that corresponding to Gylfason and Lindbeck's model, the factors which they identify are shown to be sufficient for stagflationary bias, in a specified sense. However, for the union to care about inflation is not a necessary condition. The main result of the paper concerns the more general model. It establishes a set of necessary and sufficient conditions for stagflationary bias, as previously defined. These conditions do not include a shared concern for inflation. The paper comments briefly on the significance of this result for stagflation and economic modelling.     

The European Parliament and Comitology: On the Road to Nowhere?

The European Parliament has generally been deeply distrustful of the comitology system, primarily on the grounds that it allows the national administrations to undermine its supervisory role in the area of implementing legislation. Parliament has therefore sought to use the political, budgetary and jurisdictional means at its disposal to counteract the spread of comitology, or at least to promote the less intrusive forms of committee procedure. These initiatives have not, for the most part, been wholly successful; neither the interinstitutional agreements nor Parliament's arguments before the Court of Justice have produced the results it had hoped for. Parliament has been able, however, to use its Maastricht powers to influence the choice of committee procedure included in legislation adopted under codecision, and its budgetary tactics have forced the Commission to rationalise somewhat the annual expenditure on committees of all kinds and to bring a modicum of transparency into their operation. The imminence of the intergovernmental conference led to a suspension of hostilities towards the end of 1996.     

Reviews

Barbara Caine and Rosemary Pringle (eds), Transitions: New Australian Feminisms (Allen & Unwin) 1995.

Peta Tait, Converging Realities: Feminism in Australian Theatre (Currency Press) Sydney, 1994.

Pauline Johnson, Feminism as Radical Humanism (Allen & Unwin) St Leonards, 1994.

Denise Russell, Women, Madness and Medicine (Polity Press) Cambridge, 1995.

R.W‐ Connell, Masculinities (Allen & Unwin) St Leonards, 1995.

Margaret Maynard, Fashioned from Penury: Dress as Cultural Practice in Colonial Australia (Cambridge University Press) Melbourne, 1994.

Joy Damousi, Women Come Rally: Socialism, Communism and Gender in Australia, 1890–1955 (Oxford University Press) Melbourne, 1995.

Susan Sheridan, Along the Faultlines: Sex, Race and Nation in Australian Women's Writing, 1880s—1930s (Allen & Unwin) Sydney, 1995.     

How stable is party identification?

This essay refines and extends our argument (Green and Palmquist, 1990) that net of the distorting effects of measurement error, Americans' partisanship tends to be highly stable over time. Three challenges to this thesis are addressed. In response to doubts about the generalizability of our earlier findings to panel studies of longer duration or from other eras, we show that nine multi-wave panel studies yield similar results. Next, we take up the question of whether our model can account for observed patterns of partisan conversion. The rate of party-switching forces some modifications in the statistical assumptions used to model party identification over time, but a revised model which can account for inter-party change reproduces earlier findings of partisan stability. Third, we grapple with the question of how our findings square with fluctuations in what has been termed macropartisanship. We suggest that aggregate shifts in party identification need not be incompatible with strong over-time correlations at the individual level. Finally, we develop a simulation of micropartisanship to illustrate that over long stretches of time very gradual changes in partisanship can accumulate to produce appreciable levels of micropartisan change.Donald Philip Green, Yale University.Bradley Palmquist, Harvard University.An earlier version of this paper was presented at the annual Meeting of the American Political Science Association, Chicago, Illinois, September 3–6, 1992.     

C: Reviews and notes bibliographies and works of reference

INTRODUCTORY GUIDE TO MIDDLE EASTERN AND ISLAMIC BIBLIOGRAPHY. (Middle East Libraries Committee Research Guides, 5.) Edited by PAUL AUCHTERLONIE. Oxford, Middle East Libraries Committee, 1990. v, 84pp. £9.50.

SUFI WOMEN. By JAVAD NURBAKHSH. Translated by L. Lewisohn. Rev. ed., London & New York, Khaniqahi‐Nimatullahi Publications, 1990. 263pp. 8 illustrations. £7.95.

WHO'S WHO IN THE ARAB WORLD 1990–1991. Tenth edition, thoroughly revised and completed. München, New York, London, Paris, K.G. Saur, for Publitec Publications, 1990. 927 pp. £180.00

INVENTARIO DE FOLLETOS: SECCIÓN DE ÁFRICA Y MUNDO ÁRABE DE LA BIBLIOTECA NACIONAL, I (CAJAS 7000 A 7021). By JAVIER GÓMEZ LÓPEZ & others. Madrid, Biblioteca Nacional, 1989. 124pp.

BIBLIOGRAFIA DE LA LITERATURA HISPANO‐ARABE. Compiled by MARIA JESUS RUBIERA MATA. Alicante, Universidad de Alicante, 1988. 75pp. Ptas. 566.‐

ESTUDIOS ONOMÁSTICO‐BIOGRÁFICOS DE AL‐ANDALUS, I. Edited by MANUELA MARlN. Madrid, CSIC, Instituto de Filología, Departamento de Estudio Árabes, 1988. 610,[2]pp.

ESTUDIOS ONOMÁSTICO‐BIOGRÁFICOS DE AL‐ANDALUS, II. Edited by MARlA LUISA ÁVILA. Granada, CSIC, Escuela de Estudios Árabes, 1989. 342,[2]pp.

AL‐ADAB AL‐TÜNISI AL‐MU'ASIR. By JEAN FONTAINE. Tunis, al‐Dar al‐Tūnisiyya li‐1‐Nashr, 1989. 191pp. TD3.200.

ENGLISH‐PERSIAN DICTIONARY OF LEGAL AND COMMERCIAL TERMS. Compiled By K.FAHIM, J. HABIBION and F. VITTOR. Leiden, Brill, 1989. 81pp. Hfl 150.

FLORA OF EASTERN SAUDI ARABIA. By JAMES P. MANDAVILLE. London, Kegan Paul International, in association with the National Commission for Wild Life Conservation and Development, Riyadh, 1990. x, 482pp. 200 colour ills. £95.00.     

The Role of Perceived Stress and Self-Efficacy in Young People’s Life Satisfaction: A Longitudinal Study

Life satisfaction is an important indicator of successful development. However, adolescents’ life satisfaction tends to be relatively unsteady, and environmental influences play a critical role in shaping life satisfaction among adolescents in the transition to young adulthood. Given the paramount importance that education plays in adolescents’ lives, adolescents’ life satisfaction may vary as a function of school-related stress experience. At the same time, coping resources may help reduce adverse effects of stress on life satisfaction. With this in mind, we examined whether, and to what extent, perceived stress in education and general self-efficacy (a resource that facilitates coping) affect the life satisfaction of adolescents in transition to young adulthood. We distinguished between baseline levels of stress and self-efficacy and within-person change in stress and self-efficacy to determine whether life satisfaction is sensitive to fluctuations in stress and self-efficacy when person-specific levels of stress and self-efficacy are taken into account. Estimating growth curve models on data from a panel study on the life trajectories of compulsory-school leavers (n?=?5126, 55.3?% female), we found that baseline levels of stress and self-efficacy, as well as within-person change in stress and self-efficacy, affected adolescents’ life satisfaction. Moreover, our results showed that baseline self-efficacy mitigated the negative effect of baseline stress on life satisfaction. These findings improve our understanding of two major psychological determinants of adolescents’ life satisfaction and extend our knowledge of life satisfaction trajectories during the transition to young adulthood.