Chairman reappointments,presidential elections and policy actions of the federal reserve

A number of recent studies have analyzed whether there is a political influence on monetary policy, focusing primarily on whether monetary policy becomes easier just prior to elections. In addition to exploring whether there exists an election period cycle in monetary policy, this article explores the existence of another political influence on policy. Following up on some recent anecdotal evidence provided by John T. Woolley, this article explores whether incumbent FED chairmen have succeeded in influencing monetary policy in order to improve their reappointment chances. The analysis, which spans the administrations of seven U.S. presidents and four FED chairmen, finds no conclusive evidence that FED policy changes systematically either before elections or chairman reappointment dates. The analysis has implications for the issue of rules versus discretion in monetary policy.     

Reviews

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Urban youth as witnesses to violence: Beginning assessment and treatment efforts

This article reviews literature on witnessing violence (covictimization) in children and adolescents. As violent incidents have increased dramatically in urban areas, so has exposure by inner-city youth to violence in the home, school, and community. In reaction to witnessing violence, youth may present symptoms of Post-Traumatic Stress Disorder, Separation Anxiety and Depression, evince disturbed grieving and bereavement, show a number of externalizing behaviors including aggressiveness, have impaired interpersonal and family relations, and show declines in academic performance. A number of factors may mediate the impact of violence exposure including age, gender, and history of prior trauma. Mental health assessment and treatment efforts for youth who have witnessed violence have been limited. Directions for future investigation are highlighted.Received Ph.D. in clinical/community psychology from the University of Maryland, College Park, in 1994. Research interests include group therapy with adolescents, teenage parenting, social skills assessment and training, and development of programs to assess, prevent, and treat violence exposure in urban youth.Received Ph.D. in Clinical Psychology from Virginia Polytechnic Institute and State University in 1991. Research interests include evaluation and development of school-based mental health services, empirical selection of treatment targets for children and adolescents, development of interventions to assist youth who are exposed to violence, and identification of resilience factors for urban youth.     

Australian‐Asian Sociability,Student Activism,and the University Challenge to White Australia in the 1950s

During the 1950s, staff, students and graduates of Australian universities were increasingly critical of the racial restrictions on immigration, and their activism contributed to a broader government and community reassessment of the White Australia Policy. Personal experiences of cross‐cultural interactions between Australian students and an increasing number of international students from Asia, including those sponsored by the Australian government's Colombo Plan, underpinned the university challenge to immigration policy. Tertiary curriculum offering new academic interpretations of Asian history and decolonisation also contributed to a growing awareness among university‐educated Australians of Asia, and fostered empathy for its peoples. The publications of the Immigration Reform Group extended this critique of White Australia, and were driven by a moral indignation towards a policy that affected individuals personally known to the critics.     

Mitigating Mistrust? Participation and Expertise in Hydraulic Fracturing Governance

In Canada's Yukon Territory, a legislative committee was tasked with assessing the risks and benefits of hydraulic fracturing. The committee designed an extensive participatory process involving citizens and experts; however, instead of information access and public hearings fostering an open dialogue and trust, these two channels failed to de‐polarize debates over hydraulic fracturing. We argue that mistrust was reinforced because (1) weak participatory processes undermined the goals of public involvement, (2) scientific evidence and scientists themselves were not accepted as neutral or apolitical, and (3) strategic fostering of mistrust by actors on both sides of a polarized issue intensified existing doubt about the integrity and credibility of the process. The implications of a failure to restore trust in government are significant, not only for the issue of hydraulic fracturing, but for governance more broadly, as mistrust has spillover effects for subsequent public negotiations.