Not All Housing GSEs Are Alike: An Analysis of the Federal Home Loan Bank System and the Foreclosure Crisis

While the financial crisis of 2008 ultimately affected the range of U.S. financial institutions, it began with practices in home ownership finance. The Federal Home Loan Bank (FHLBank) System was the first instrumentality created by the U.S. government, in 1932, to sustain affordable home ownership finance. In this article, the authors ask what role, if any, the FHLBanks played in the subprime lending and securitization practices that precipitated the current crisis. The authors analyze publicly available FHLBank financial data in terms of a framework focused on the System's assets: advances; mortgage loans acquired from members; and investments, particularly in mortgage-backed-securities. They conclude that the FHLBanks did not contribute significantly to problematic practices. Nonetheless, they recommend consideration of three reforms to the FHLBanks to ensure a return to effective regulation and responsible, affordable home ownership finance.     

Leviathan resists: the endogenous relationship between privatization and firm performance

Using a panel dataset of privatized cement firms in Turkey, this paper models and finds support for the simultaneous relationship between privatization and firm performance. It is found that favorable short-run performance, weak market potential, higher employment, lower socio-economic development, concentrated voter preferences, and weaker representation of right-wing parties in the firms’ locality delay the timing of privatization. The paper also finds that privatization increases output in the medium-term by reducing the labor stock and promoting the adoption of more advanced technology, such that production shifts from constant to decreasing returns to scale.     

Gender Differences in Political Knowledge: Distinguishing Characteristics-Based and Returns-Based Differences

This study assesses whether gender-based differences in political knowledge primarily result from differences in observable attributes or from differences in returns for otherwise equivalent characteristics. It applies a statistical decomposition methodology to data obtained from the 1992–2004 American National Election Studies. There is a consistent 10-point gender gap in measured political knowledge, of which approximately one-third is due to gender-based differences in the characteristics that predict political knowledge, with the remaining two-thirds due to male–female differences in the returns to these characteristics. The methodology identifies the relative contribution of the predictors of political knowledge to each portion of the gap, and then uses this information to elucidate the underlying sources of the political knowledge gender gap and its prognosis. Education is the characteristic that most clearly enlarges the gap, with men receiving significantly larger returns to political knowledge from education than women. Group membership reduces the gap as women obtain gains in political knowledge from belonging to organizations that do not accrue to men. However, these gains are not sufficient to significantly reduce the gap.

A New Measure of Policy Spending Priorities in the American States

In this paper, we develop and test a general measure of policyexpenditures in the American states. Our approach is to constructa spatial proximity model of yearly state program spending.The empirical analysis reveals that state spending patternsvary along a clear and readily-interpretable unidimensionalcontinuum which differentiates policies that provide particularizedbenefits to needy constituencies from policies that providebroader collective goods. Based upon standard evaluative criteria,the variable created from our model possesses some highly desirablecharacteristics. And, it compares favorably to other measuresof state policy activity. The net result is a yearly score foreach state which summarizes that state's spending across allmajor program areas. More generally, we believe that our variablecan be interpreted as valid and reliable representational measurementof state policy priorities. In this capacity, it could occupyan important position within models of state politics. Author's note: Many colleagues provided useful feedback on earlierversions of this paper. We particularly appreciate the excellentcomments and suggestions from Robert Erikson, Richard Fording,Kim Hill, David Lowery, Andrea McAtee, and George Rabinowitz.We would also like to thank Daniel Lewis and William Myers fortheir assistance with the data collection. The yearly statepolicy priority scores obtained from the unfolding analysis,along with the data used to create the scores, the SAS macroto carry out the unfolding procedure, and all other supplemental materialsare available on the authors’ web sites: http://polisci.msu.edu/jacobyand http://polisci.msu.edu/schneider. All these materials arealso available on the Political Analysis Web site.     

Offsetting Uncertainty: Reassurance with Two-Sided Incomplete Information

Conventional models of bargaining and reassurance under incomplete information assume that actors' behavioral signals are objectively cooperative or noncooperative. Even if actors are uncertain of each other's preferences, they know what types of actions the other will view as cooperative. Yet on many real-world issues, cooperation is subjective, and what constitutes a cooperative action is conditional on the receiver's preferences. We present a formal model showing that in these cases, two-sided incomplete information actually incentivizes honest behavior and facilitates credible signaling. Because uncertain senders do not know whether a particular action will be interpreted as cooperative, they have little incentive to misrepresent, and instead honestly pursue their true goals. Thus, where cooperation is subjective, mutual uncertainty is “offsetting,” such that credible signals allow actors to quickly and accurately update their beliefs. We illustrate this logic through a case study of the Sino–Soviet split, and highlight the model's implications for contemporary U.S.–China relations.     

“He said,she said”: Sexual harassment in the fractured criminal justice work place

This article addresses the critical problem of sexual harassment in criminal justice agencies. The authors assess empirically the incidents of sexual harassment in criminal justice organizations, and discuss why sexual harassment is more prevalent in criminal justice agencies than in other public agencies.     

Intimate Partner Violence Control Scale: Development and Initial Testing

Although control has long been considered central to understanding intimate partner violence (IPV), there continues to be a notable lack of validated scales measuring control (e.g., Strauchler et al. Journal of Family Violence, 19(6), 339–354, 2004). The purpose of this study was to develop and empirically validate a brief assessment tool, the Intimate Partner Violence Control Scale (IPVCS), designed to measure control in the context of IPV. Data from a sample of male undergraduate and graduate students (n = 436) were used to examine the scale’s properties. After reviewing theoretical conceptualizations and measurement issues of control, psychometric properties of the IPVCS and results of exploratory hypotheses tests are presented. The availability of a brief and reliable measure of control offers a tool for professionals in the judicial system, for IPV victims’ advocates, and for human services workers in practice settings to adequately assess for control and fills a gap in this area of research and practice.     

The use of linear dichroism in forensic fibre examinations — Part 6. Validation and practical aspects of MSP-PPL

This paper summarizes the results of previous work on the microscopic observation of linear dichroism found in dyed fibres (polyesters, polyamides, wool, silk, cotton, viscose, acrylics and acetates) and in pigmented fibres as well as the measurements on these fibre classes using microspectrophotometry with plane polarized light (MSP-PPL). The validation of this method is discussed and a practical tool is proposed for comparing fibre traces with control fibres. The limitations and strengths of this method are also revised.