Competition and Selection in Municipal Bond Sales: Evidence from Missouri

This article describes the results of an interest cost analysis of local government debt issuance in the State of Missouri. In Missouri the vast majority of municipal bonds are sold on a “no bid” basis. We discuss the theoretical arguments for and against competition and selection. Then we determine the degree to which cost differences exist while correcting for any potential selection bias. We use data on local government general obligation bonds sold from May 2004 to May 2005 provided by the Missouri State Auditor's office. We find that this substantial lack of competition imposes significant costs on Missouri governments.     

The Chinese Ant and the American Grasshopper

The world’s top saver and its biggest spender will both benef it if their financial attitudes show more convergence. CHINA is like the ant and America is like the grasshopper.     

MENTORS AND CRIMINAL ACHIEVEMENT*

Much of the research focusing on conventional occupations concludes that mentored individuals are more successful in their careers than those who are not mentored. Early research in criminology made a similar claim. Yet contemporary criminology has all but ignored mentors. We investigate this oversight, drawing on Sutherland's insights on tutelage and criminal maturation and incorporating ideas on human and social capital. We argue that mentors play a key role in their protégés' criminal achievements and examine this hypothesis with data from a recent survey of incarcerated adult male offenders in the Canadian province of Quebec. In this sample, a substantial proportion of respondents reported the presence of an influential individual in their lives who introduced them to a criminal milieu and whom they explicitly regarded as a mentor. After studying the attributes of offenders and their mentors, we develop a causal framework that positions criminal mentor presence within a pathway that leads to greater benefits and lower costs from crime.     

POLICY ANALYSIS IN BRITISH CENTRAL GOVERNMENT: THE EXPERIENCE OF PAR

Programme Analysis and Review (PAR) was an approach to policy analysis introduced in 1970 by Edward Heaths administration as part of a systematic attempt to develop 'rational' government. In the early years some substantial reviews were completed, but from 1973 the exercise faded as less political commitment was devoted to it and institutional compromise and disillusion spread. This paper charts the life of PAR until its official demise in 1979 and analyses its experience, Above all, it suggests that PAR was unable to satisfy the technical, organizational and political preconditions for effective analysis.     

The design and implementation of Family Foster Care Services for high risk delinquents Transitioning from Correctional Confinement

Specialized Family Care (SFC) provides planned, long term family foster care to youth who have been adjudicated as delinquent and who are at high risk of on-going delinquent behavior following their transition into the community from correctional confinement. The program is funded and operated through a collaborative arrangement among The Casey Family Program-Bismarck Division, the North Dakota Department of Human Services (DHS) and the North Dakota Division of Juvenile Services (DJS). Specially recruited, trained and supported foster families work closely with a dual case management system of services provided by SFC social workers and DJS case managers responsible for community-based aftercare. Individual case plans for youth involve a mix of intensive aftercare programming for delinquent behaviors, individually designed intervention strategies, intensive supervision, and intensive casework. This article discusses the program model, implementation challenges, costs and preliminary outcomes.