Individuals, Institutions, and Inflation: Conceptual Complexity, Central Bank Independence, and the Asian Crisis

Previous research has demonstrated that greater levels of legal central bank independence produce favorable macroeconomic outcomes in the developed countries. This article expands the literature's focus on institutions to include a measure of conceptual complexity designed to capture individual-level variations in the cognitive style of central bankers themselves. I argue that the interaction of the cognitive style of central bankers with their respective institutional environments provides a more comprehensive account of the variation in achieving price stability across countries than the institutional measure alone. This hypothesis is tested in the context of the Asian Crisis as its effects diffused to the developed world between 1997 and 1999. The analysis demonstrates that different types of individuals working within different types of institutions achieved different levels of success in attaining price stability during the Asian Crisis. The most successful outcomes were achieved by conceptually complex central bankers working within legally independent central banks. The findings suggest that more research is needed concerning the individual level of analysis in the study of international political economy.     

Job stress in police work: An exploratory analysis into structural causes

Police stress has received intermittent coverage in the literature for the last decade, and it remains a constant source of discussion today. One of the reoccurring problems with stress studies is that they attempt to examine the phenomenon globally. This almost always leads to generalized findings which may be representative of the overall problem, but certainly fail to adequately micro-examine the intracies of the issue. This article examines perceptions of stress relative to the demographic and assignment characteristics of police officers in a medium sized city. It identifies three specific patterns and suggests directions for additional research.     

The Size Efficiency of Rural Governments: The Case of Low-Volume Rural Roads

The deterioration of the supply of public infrastructure throughoutthe United States has been found to be accelerating. The reasonmost often cited for the increasing rates of deterioration isthe lack of available funding, or fiscal stress, present inmany local governments. A popular short-term solution to fiscalstress is to defer infrastructure repairs and/or replacementprograms. This is particularly true in rural areas where a decliningagricultural base and redirected federal policy have placedsignificant downward pressure on revenues. The search for along-term solution has renewed the debate about the optimalsize of local governments. The research reported here examinesthe issue of size efficiency in the production of low-volumerural roads in the Midwest. At issue is the ability of Midwesttownships to realize size economies. Overall, size inefficiencieswere identified which suggests that cost savings may be realizedfrom the reorganization of the production of low-volume roadservices.     

The Fables and Foibles of Federal Capital Budgeting

This article critically evaluates the notions behind proposals to institute capital budgeting at the federal level. Four critical assumptions are found to be behind the contention that capital budgeting will improve federal investment policies: (1) an agreed-upon and accepted definition of a capital budget exists; (2) a capital budget "adds value" by improving the quality of information; (3) better information leads to better decisions; (4) better decisions lead to better actions. Each of these assumptions is evaluated using examples drawn from various levels of government and from the private sector. The general finding is that if these assumptions hold, then it is reasonable to expect that capital budgeting will lead to better programmatic decisions. Unfortunately, one or more of these assumptions usually does not hold and for this reason the case for federal capital budgeting is not very strong     

Procedural preferences,perceptions of fairness,and compliance with outcomes

Mental health professionals (N=198) read a vignette describing malpractice case and were asked to imagine themselves in the role of defendant. Using a between-subjects design, each subject was offered two possible trial procedures for resolving the case, the standard adversary procedure (ADVERS) and one of five possible hybrid procedures. Using scales that juxtaposed these two procedures, subjects provided judgments on 12 procedural justice dimensions. A series of regression analyses examined the most important determinants of PREFERENCE judgments, FAIRNESS ratings, and ratings of imagined COMPLIANCE with trial outcomes. PREFERENCE raings were significantly influenced by perceived FAIRNESS of the procedures and by OUTCOME CONTROL. Perceived ACCURACY of the available trial procedures contributed most of the unique variance explained for dependent measures of FAIRNESS AND COMPLIANCE. Results are discussed in terms of the procedural justice attributes of alternatives to the standard adversary process for resolving medical malpractice cases.Division 41 Presidential Address presented at the Annual Convention of the American Psychological Association in Toronto, August, 1993. I would like to acknowledge the substantial assistance of Mary Murrin with the data analysis, and to thank Richard Wiener for comments on a earlier draft of this article.