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.

哈萨克斯坦和乌兹别克斯坦独立以来的转型战略:悖论和前景

自苏联解体以后,中亚地区成了国际社会瞩目的焦点.作为曾经的苏联国家的一部分,目前该地区充满矛盾.地区内的两个大国--哈萨克斯坦和乌兹别克斯坦选择了不同的发展战略,导致了有趣而充满分歧的结果.取得独立后,哈萨克斯坦选择开放它的经济,而乌兹别克斯坦政府则专注于政治稳定和完全协调发展的经济.1990年代早期,乌兹别克斯坦的策略看上去更合理且更少痛苦,而哈萨克斯坦在那时遭受了严重的经济衰退.然而,到了世纪之交,哈萨克斯坦的经济表现远远超过了它的邻国.本文的目的是分析和比较哈萨克斯坦和乌兹别克斯坦独立早期所选择的两种不同的转型战略,以及评价未来几年里这两种战略的前景和它们所隐含的意义.     

Comparing Sexual-Minority and Heterosexual Young Women’s Friends and Parents as Sources of Support for Sexual Issues

The present study provides a comparative analysis of sexual-minority and heterosexual emerging adult women’s experiences seeking support for sexual issues from parents and friends. Participants included 229 college women (88 sexual-minority women; 141 heterosexual women), ranging from 18 to 25 years of age, who provided written responses to an inquiry about a time they went to friends and parents for support for a issue related to their sexuality. Responses indicated that the majority of participants had sought support from either a parent or a friend and that mothers and female friends were more likely involved than fathers or male friends, respectively. Sexual issues that participants reported discussing with parents and friends were inductively grouped into five categories: dating and romantic relationships, sexual behavior, sexual health, identity negotiation, and discrimination and violence. Issues that were discussed differed based on sexual orientation identity and the source of support (parent or friend); they did not differ by age. Participants generally perceived parents and friends’ responses as helpful, though sexual-minority participants perceived both parents and friends’ responses as less helpful than did heterosexual participants. Overall, results suggest both similarities and differences between sexual-minority and heterosexual young women’s experiences seeking support for sexual issues from parents and friends.     

Resilience and Vulnerability in Adolescents: Genetic Influences on Differential Response to Risk for Delinquency

Prior research has identified a vast number of correlates for delinquent behavior during adolescence, yet a considerable number of errors in prediction remain. These errors suggest that behavioral development among a portion of youths is not well understood, with some exhibiting resilience and others a heightened vulnerability to risks. Examining cases that do not confirm prediction outcomes provides an opportunity to achieve a greater understanding of the relationships between risk factors and delinquency, which can be used to improve theoretical explanations of behavior. This study explores the contribution of genetic and environmental factors to differences in individual responses to cumulative risk for delinquency among a sample of adolescent twins (N = 784 pairs, 49 % female) in the National Longitudinal Study of Adolescent Health. The results indicate that additive genetic and unique environmental factors significantly contribute to variation in responses to cumulative risk across 14 risk factors spanning individual, familial, and environmental domains. When analyzed separately, the majority of the difference between vulnerable youths and the overall population was attributed to genetic influences, while differences between resilient youths and the population were primarily attributed to environmental influences. The findings illustrate the importance of examining both genetic and environmental influences in order to enhance explanations of adolescent offending.     

Discourses on countering violent extremism: the strategic interplay between fear and security after 9/11

This article explores the construction of extremism in media discourse, the factors driving specific constructions and the implications of these constructions for counterterrorism policy. We contend that extremism has predominantly and increasingly been framed as a security issue. This article explores the implications of this practice through the framework of securitisation. We measure the average intensity of security framing in 38,616 articles found in three major US newspapers, New York Times, Wall Street Journal and Los Angeles Times, between 20 January 1993 and 19 January 2017 comprising the Clinton, Bush and Obama presidencies, and look at factors influencing the shift in intensity over time. Through our analysis, we show that it is possible to return to a pre-9/11 discourse but that the confluence of real-world events and the strategic choices of political actors have so far prevented this from fully occurring. We then explore the effect of securitisation on public perceptions of the threat from terrorism, finding that increases in the intensity of security framing artificially increases the public’s worry about becoming a victim of terrorism. We conclude by discussing implications for the communication of counterterrorism policy and the requirements for an after, after 9/11 approach     

The Longitudinal Role of Self-Concept Clarity and Best Friend Delinquency in Adolescent Delinquent Behavior

Journal of Youth and Adolescence - Adolescence tends to be characterized by a temporary peak in delinquent behavior, and friends in particular play a key role in the initiation and the development...