The impact of surplus sharing on the portfolio mix of public sector defined benefit pension plans: a public choice approach

The riskiness of state employee pension plan portfolios varies across states. We investigate whether this variation is related to how public employees and taxpayers share actuarial surpluses of pension accounts. We focus on two determinants of a plan’s asset mix: the relative influence of public employees to taxpayers; and whether a surplus-sharing contract is specified. Our theoretical model demonstrates that the effect of public employee influence on the asset mix is ambiguous. Our empirical results corroborate this complex theoretical result. In our theoretical and empirical analyses, if a surplus sharing rule is specified, plans adopt a more aggressive investment allocation.     

On the Rights of Undocumented Children

Changes in immigration laws over the last three to four decades have given rise to unprecedented numbers of undocumented children. However, as others have argued, policies regarding the control of undocumented migration have had deleterious effects on undocumented children and their basic access to social rights. Undocumented youth in the United States can legally attend K-12 education, but cannot legally work, vote, receive financial aid, or drive in most states. Their situation calls for a reexamination of immigration laws and a recasting of the frame that has been used to promote their inclusion.

Why Do States Commission the Truth? Political Considerations in the Establishment of African Truth and Reconciliation Commissions

Although the use of truth and reconciliation commissions (TRCs) has grown considerably over the last 3 decades, there is still much that we do not know concerning the choice and the structuring of TRCs. While the literature has focused primarily on the effects of TRCs, we examine the domestic and the international factors influencing the choice of a commission in sub-Saharan Africa from 1974 to 2003 using pooled cross-sectional time series. We find that states which adopted a TRC prior to South Africa were generally repressive centralized regimes which used the truth commission as political cover. However, since South Africa’s TRC, democratizing states have been more likely to adopt a truth commission as a form of transitional justice.

青年的政策觉识与支持老年父母的关系:一项香港与上海的比较研究

这项研究探讨香港与上海两地青年的公共政策或社会责任、子孙或家庭责任、个人责任的觉识对其照顾、接纳和承担照顾父母的意愿的效应.研究结果显示:(1)对政府或社会的养老政策责任的觉识愈高者则照顾父母的意愿明显地愈高;然而,对老年人的自立生活具愈高的觉识者,其照顾父母的意愿却愈低;(2)对倡导尊敬老年人的觉识愈高和对老年人的自立生活的觉识愈低者,其接纳照顾父母的意愿愈高;(3)对政府责任的觉识愈高者和对个人责任的觉识愈低者,其承担照顾父母的意愿愈高.文章同时就倡导两地照顾或供养父母的政策启示进行讨论.     

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.     

Construct Validity of Adolescent Antisocial Personality Disorder

This study examined the construct validity of antisocial personality disorder (ASPD) diagnosed in adolescence. Boys and girls were grouped by history of DSM-III-R conduct disorder (CD) and ASPD: Controls (n=340) had neither diagnosis; CD Only (n=77) had CD by age 17 but no ASPD through age 20; Adolescent ASPD (n = 64) had ASPD by age 17. The Adolescent ASPD group was then compared to 20 young adult men who met criteria for ASPD (ASPD group). As expected, the Adolescent ASPD group had significantly more depression and substance use disorders, a greater performance>verbal IQ discrepancy, more deviant peers, and poorer academic functioning than the CD Only group and Controls. The Adolescent ASPD and ASPD groups did not differ on most variables. Results support the construct validity of Adolescent ASPD and suggest that such a diagnosis could help identify adolescents at risk for persistent antisocial behavior. Jeanette Taylor is an Assistant Professor at Florida State University. She received her Ph.D. in 1999 from the University of Minnesota. Her research examines biological, cognitive, and environmental influences on personality disorders and substance use disorders. Irene J. Elkins is a Co-investigator at the Minnesota Center for Twin and Family Research. She received her Ph.D. in 1993 from the University of Kansas and is a member of the Society for Research on Psychopathology. Her major research interests include the relationship of personality, ADHD, and antisocial behavior to substance abuse, as well as gene-environment interrelationships. Lisa Legrand is a Research Associate with the Minnesota Center for Twin and Family Research at the University of Minnesota. She received her Ph.D. in 2003 from the University of Minnesota. Her major research interests include gene-environment interplay in the development of externalizing psychopathology. Dawn Peuschold is a Senior Clinical Forensic Psychologist at the Hennepin Country District Court and an instructor at the University of Minnesota. She completed a post-doctoral fellowship in forensic psychology at the University of Massachusetts Medical School after receiving her Ph.D. in clinical psychology from the University of Minnesota. She is interested in risk factors for reoffense in juveniles. William G. Iacono is a Distinguished McKnight University Professor at the University of Minnesota, the institution from which he received his Ph.D. in psychology. He conducts longitudinal studies of adolescent twins and adoptees aimed at understanding the development of adult adjustment and mental health.     

A minimax procedure for electing committees

A new voting procedure for electing committees, called the minimax procedure, is described. Based on approval balloting, it chooses the committee that minimizes the maximum Hamming distance to voters’ ballots, where these ballots are weighted by their proximity to other voters’ ballots. This minimax outcome may be diametrically opposed to the outcome obtained by aggregating approval votes in the usual manner, which minimizes the sum of the Hamming distances and is called the minisum outcome. The manipulability of these procedures, and their applicability when election outcomes are restricted in various ways, are also investigated. The minimax procedure is applied to the 2003 Game Theory Society election of a council of 12 new members from a list of 24 candidates. By rendering outlying voters less influential and not antagonizing any voters too much, it arguably would have produced a committee more representative of the interests of all voters than the minisum committee that was elected.