Adverse selection and growth under IMF programs

The dominant approach to studying the effects of IMF programs has emphasized moral hazard, but we find that adverse selection has more impressive effects. We propose a novel strategic selection model to study the growth effects of IMF programs, which allows for the possibility of adverse selection. We find that adverse selection occurs: the countries that are most interested in participating in IMF programs are the least likely to have favorable growth outcomes. Controlling for this selection effect, we find that countries benefit from IMF programs on average in terms of higher growth rates, but that some countries benefit from participation, while others are harmed. Moral hazard predicts that long-term users of Fund resources benefit least from participating in programs, while adverse selection predicts the opposite. Contrary to previous findings, we find that IMF programs have more successful growth performance among long-term users than among short-term users.     

Veterans interests and the transition to government growth: 1870–1915

Civil War veterans were the first interest group to use their political power to obtain substantial monetary transfers from the U.S. Treasury. Veterans supported the Republican party, and in exchange Republicans provided increasingly generous veterans benefits, placing a strain on the Treasury that led toward a demand for increased taxes. Veterans also established a precedent that other groups could follow to petition the goverment for economic benefits, shaping the transformation of American government in the Progressive era which led to the substantial growth of the federal government in the 20th century.     

Relationships Between Discretionary Time Activities,Emotional Experiences,Delinquency and Depressive Symptoms Among Urban African American Adolescents

Using the Experience Sampling Method (ESM), this cross-sectional study examined mediated and moderated associations between different types of discretionary time activities and depressive symptoms and delinquency among a sample of 246 (107 boys, 139 girls) fifth through eighth grade urban African American adolescents. More time spent in passive unstructured activities was associated with higher levels of depressive symptoms only for adolescents residing in less dangerous neighborhoods, whereas more time spent in active unstructured activities was associated with higher levels of delinquency only if adolescents resided in more dangerous neighborhoods. Alienation was positively associated with depressive symptoms and delinquency, but neither alienation nor positive affect mediated the relationship between activities and adjustment. These findings suggest the importance of considering neighborhood environment issues when determining what types of discretionary time activities are most beneficial for urban African American young adolescents.

Transitional gains and rent extraction

Public Choice - Tullock (Bell J Econ 6:671–678, 1975) described a transitional gains trap in which the present value of rents is capitalized in the value of an asset required to get the...     

Unionization and Work Attitudes: How Union Commitment Influences Public Sector Job Satisfaction

This article explores whether union commitment dampens public sector job satisfaction. By examining the connection between union commitment and two workplace attributes that are presumed to be more prevalent in public sector workplaces—perceptions of higher red tape and greater public service motivation—this article develops three hypotheses exploring the direct and indirect relationships between union commitment and public sector job satisfaction. The findings from a series of structural equation models indicate that union commitment directly increases members’ job satisfaction, but it more prominently increases members’ job satisfaction indirectly by reducing perceived red tape and enhancing public service motivation.