Taxes,Time, and Support for Security

New technologies have been developed in response to terrorism. These present problems for local officials: implementing technologies will be expensive, and no technologies exist that can be used to gauge demand. We apply contingent valuation methodologies to determine support for additional taxes to pay for new terrorism‐related technologies and services. We present findings from a national survey about people's attitudes toward terrorism prevention and response. We find that respondents generally support new services and technologies and local tax increases to pay for them. We also find that respondents are willing to pay more if programs have everyday uses that would enhance public safety, but are less supportive as inconveniences increase.     

Municipal Bond New Issue Transaction Costs

As with any market, there are transaction costs associated with the sale of municipal bonds. Only a small number of studies have examined this topic, and therefore we have only a limited understanding of the magnitude and determinants of new issue municipal bond transaction costs. We use data on California municipal bond transaction costs from 2007 to 2009 to test whether scale economies exist. We find that there are considerable transaction cost scale economies for California municipal bonds and that pooling bond sales would likely save substantial amounts of money.     

IN AND OUT OF HARM'S WAY: VIOLENT VICTIMIZATION AND THE SOCIAL CAPITAL OF FICTIVE STREET FAMILIES*

Homeless youth establish a variety of relationships with people they meet on the street. These associations generate different levels of the intangible resources of trust, commitment, and reciprocity that contribute to a person's social capital. We argue that the relationships homeless youth describe as “street families” resemble the fictive kin common among people who have limited resources, and that these relationships are a greater source of social capital than are other associations. Social capital may improve access to many valued outcomes, including protections. Regression analyses of violent victimization support our argument, demonstrating that fictive street families keep youth out of harm's way more than do other street associations.