cssi/SciSciGPT-SciSciNet huggingface dataset:
The Path to Polarization: McGovern-Fraser, Counter-Reformers, and the Rise of the Advocacy Party

American politics has been transformed by the emergence of the advocacy party—a form of organization in which extraparty interest groups, advocacy organizations, and social movements substitute for the diminished institutional capacity and popular legitimacy of the formal party apparatus. Many scholars have rightly pointed to the presidential nomination reforms made by the Democratic Party's post-1968 Commission on Party Structure and Delegate Selection (known as the McGovern-Fraser Commission) as a key contributor to polarization by increasing the influence of ideological activists. However, I argue that polarization is not the direct result of the actions of McGovern-Fraser reformers, but rather the outcome of their pitched battle with intraparty opponents of reform, who, while failing to prevent changes to presidential nominations, were ultimately successful in defeating the party-building dimension of the reformers’ project of party reconstruction. The product of their intraparty struggle was a hybrid institutional amalgam that layered new participatory arrangements over a hollow party structure, thus setting the Democratic Party on a path toward the advocacy party and its polarizing politics.
School-to-career programs and transitions to employment and higher education

Abstract The 1994 federal School-to-Work Opportunities Act (STWOA) provided more than $1.5 billion over 5 years to support increased career preparation activities in the country's public schools. A new longitudinal data source with rich information on school-to-career (STC) programs—the 1997 National Longitudinal Survey of Youth (NLSY97)—provides previously unparalleled opportunities to study the effectiveness of STC programs. This paper uses the NLSY97 to assess the effects of STC programs on transitions to employment and higher education among youths leaving high school, with a focus on attempting to estimate the causal effects of this participation given possible non-random selection of youths into STC programs.
Bringing Agency Back into Network Research: Constrained Agency and Network Action

Abstract We propose a framework of constrained agency grounded in the actors’ resources and motivations within their structurally constrained context. Structural positions influence the resources available to actors and color the motivations that shape their actions. Resources equip actors to exert agency, while motivations propel them to do so. We derive a typology of network actions and illustrate how the form of constrained agency through which a particular network action is taken can affect actors’ ensuing structural positions and the nature of the constraints they subsequently face. Our conceptualization of constrained agency identifies new sources of endogenous change in network structure.
Air Pollution and Infant Health: What Can We Learn from California's Recent Experience?

We examine the impact of air pollution on infant death in California over the 1990s. Our work offers several innovations: First, many previous studies examine populations subject to far greater levels of pollution. In contrast, the experience of California in the 1990s is clearly relevant to current debates over the regulation of pollution. Second, many studies examine a few routinely monitored pollutants in isolation, generally because of data limitations. We examine four criteria' pollutants in a common framework. Third, we develop an identification strategy based on within zip code variation in pollution levels that controls for potentially important unobserved characteristics of high pollution areas. Fourth, we use rich individual-level data to investigate effects of pollution on infant mortality, fetal deaths, low birth weight and prematurity in a common framework. We find that the reductions in carbon monoxide (CO) and particulates (PM10) over the 1990s in California saved over 1,000 infant lives. However, we find little consistent evidence of pollution effects on fetal deaths, low birth weight or short gestation.
Conditional Rights and Comparative Wrongs: More on the Theory and Application of Comparative Criminal Liability

Dean Hurd and Professors Harel, Husak, and Simons have raised a number of interesting questions in connection with my argument for comparative criminal liability pursuant to which the victim’s conduct should be taken into account for proper determination of the perpetrator’s liability. In “Victims and Perpetrators,” I suggested that our rights are not static but depend on our actions. Based on that principle, which I called the principle of conditionality of rights, victims may reduce their right not to be harmed either voluntarily, by consent, waiver, or assumption of risk, or involuntarily, by an attack on some legally recognized rights of the perpetrator. If that happens, perpetrators should be entitled to a defense of complete or partial justification, which would eliminate or diminish their criminal liability. This article is an attempt to further develop the proposed theory of comparative criminal liability while addressing the most important issues brought up by the commentators. These issues can be divided into three
What Do We Know About The New European Works Councils? Some Preliminary Evidence From Britain

EU legislation mandating European Works Councils (EWCs) was enacted in 1994. Although much descriptive information on the content of EWC agreements exists, little is known of the determinants and impact of these new institutional arrangements. In the present treatment, we exploit a question on EWC status in the 1998 Workplace Employee Relations Survey to provide the first econometric investigation of the determinants of (largely) voluntary transnational councils and their potential effect on establishment performance and employee attitudes. Many of the sharper criticisms of EWCs are not substantiated in the data, even if the benefits appear muted.
Mediation and the Transformation of American Labor Unions

The decline of unionization and the increasing adoption of private dispute resolution are two simultaneous phenomena that suggest an opportunity for unions. Unions should negotiate provisions in collective bargaining agreements that offer mediation for claims not covered by the agreement including legal disputes and interpersonal conflicts. A mediation program offers advantages to unions, employers and employees, more effectively resolving disputes while providing employees with representation to counteract any power differentials that exist. Employers may avoid litigation. Unions may gain valuable experience that they can use in other forums, while at the same time providing an additional service to workers. Experimentation with this potential win-win program could lead to changes in workplace cultures responsive to the realities of today’s workplace.
Taming the Wild West: Online Excesses, Reactions and Overreactions

A review essay discussing Danielle Keats Citron’s Hate Crimes in Cyberspace (Harvard University Press 2014) and Amy Adele Hasinoff’s, Sexting Panic: Rethinking Criminalization, Privacy and Consent (University of Illinois Press 2015). Both books consider the risks and harms in cyberspace, blaming of victims, and the interaction between law and online expression. Citron documents widespread hate speech, cyberstalking, revenge porn, and other speech that especially targets women online. Hasinoff, grounded in feminist and cultural studies, emphasizes the positive aspects of the agency girls who sext voluntarily display in exploring and displaying their sexuality, arguing that advising girls that control of their own lives must lead them refuse to sext (a widespread approach) deprives them of voice. Both books analyze law and propose legal reforms, and both also explore the relationship between social norms and legal regimes. Ross’s review finds commonality in the authors’ arguments that women “have a right to sexual expression without fear of moral or legal repercussions” and that both ultimately “look to greater self-policing by the technology industry,” and to promoting “cultural transformation” as much as legal change.
The Economic Consequences of Accounting Standards: Evidence from Risk-Taking in Pension Plans

ABSTRACT Experts have long conjectured that pension accounting rules, by which pension expense depends on a managerial estimate that is directly tied to the riskiness of plan assets (i.e., the expected rate of return, or ERR, on plan assets), encourage risk-taking with pension investments. The recent passage of IAS 19, Employee Benefits (Revised) (hereafter, IAS 19R) eliminates the ERR and replaces it with a managerial estimate unrelated to plan asset riskiness (the discount rate). We demonstrate that a sample of Canadian firms affected by IAS 19R reduces risk-taking in pension investments post-IAS 19R, compared to a control sample of U.S. firms unaffected by IAS 19R. Therefore, removing firms' ability to recognize immediately in net income the expected higher returns from risk-taking (via a higher ERR) reduces their propensity for that risk-taking—providing some of the first empirical evidence on the economic consequences of eliminating the ERR-based pension accounting model.
Negotiation, Meet New Governance: Interests, Skills, and Selves

In this article, I critically examine two bodies of scholarship: negotiation literature and new governance literature. To that end, I consider The Negotiator's Fieldbook (2006), an ambitious survey of negotiation theory and practice edited by Andrea Kupfer Schneider and Christopher Honeyman, and key works by U.S. new governance architects, Michael Dorf, Charles Sabel, and William Simon. This comparison may surprise readers since negotiation literature largely focuses on interpersonal dynamics, and new governance literature aims at institutional change. I argue that these two literatures share similar assumptions about subjectivity that drive their sense of political hopefulness. In short, both envision a flexible problem-solving subject—shaped in negotiation by a discourse of skills and in new governance by a discourse of institutional design. Based on this descriptive claim, I illustrate how reading these literatures together suggests alternative perspectives from which to consider questions of power, inequality, and distribution relevant to both fields. When no firm and lasting ties any longer unite men, it is impossible to obtain the cooperation of any great number of them unless you can persuade every man whose help is required that he serves his private interests by voluntarily uniting his efforts to those of all the others. Alexis de Tocqueville (1969, 517)
Pass-through of trade costs to U.S. import prices

This paper measures the pass-through of trade costs into U.S. import prices by using actual data on duties/tariffs and freight-related costs. The key innovation is to decompose the indirect effects of trade costs (on prices) into the effects on markups, quality and productivity while measuring/interpreting the pass-through of trade costs into welfare. Robust to the consideration of variable versus constant markups, there is evidence for incomplete pass-through, mostly due to the negative indirect effects of trade costs on marginal costs, suggesting that lower trade costs are associated with imports that have higher marginal costs; markups are affected relatively less. When the effects of trade costs on marginal costs are further decomposed into their components, the positive contribution of quality dominates in all cases, followed by the negative effects of productivity, suggesting that lower trade costs are associated with higher-quality imports that have been produced with lower productivity.
The Need for a Two (or More) Tiered First Amendment to Provide for the Protection of Children

This Paper addresses two problems that arise from attempts to shield children from harmful media influences. With regard to spillover problems, where the law recognizes that children can be limited but is concerned that restrictions spill over to limit adult rights, the Paper argues that there are ways to limit the effect on adults, even on the Internet. Furthermore, some spillover effect is allowed and may leave open the possibility of protecting children from tobacco or alcohol advertisements. The Paper also addresses areas in which material has been seen as protected even for children, areas such as violence and hate speech. The Paper argues for a two-tiered First Amendment that would allow the State to protect children from damaging material, unless their parents want to provide it, while leaving open adult-to-adult communication.
Response to discussion on “Differential levels of disclosure and the earnings–return association: evidence from foreign registrants in the United States”

The discussant raises a number of points that need to be considered in relation to our paper and future research. We will address the points in same order presented by the discussant.
Monitoring the Principal with Multiple Agents

Double moral hazard arises in the principal-agent model when both parties provide a nonverifiable input following contracting. Balanced-budget contracts are generally second best. If the principal's input is public to two agents, which often characterizes franchising, for example, then balanced-budget contracts exist that resolve fully double moral hazard. Agent payoffs depend on both outputs to correct principal moral hazard, rather than correlation in random effects on outputs. The equilibrium in first-best choices implemented by the contract is also unique and coalition-proof.
The Plight of Modern Markets: How Universal Banking Undermines Capital Markets

© 2016 Banca Monte dei Paschi di Siena SpA This paper explains the process of competitive deregulation that led both the US and the UK to embrace universal banking and to abandon the functional separation of financial activities that had long characterized their financial systems. The paper argues that some of the consequences of favouring universal banking over functional separation that were understood in the 1930s were rarely voiced in years preceding deregulation. The principal argument offered in favour of separation was that the commercial banking system, which is supported by a government ‘safety net’, needs to be protected from the risks inherent in investment banking. By contrast, this paper argues that functional separation played an important role in protecting capital markets from the banking system. Universal banking is associated historically with thinly traded stock markets, and this paper argues that universal banking promotes the formation of a small group of large dealer-banks which dominate the financial system and whose interests are best served by trading on nonpublic over-the-counter (OTC) markets. The paper finds that just such a group played a key role in the growing importance of such OTC markets in the US over the past few decades. The paper then argues that the benefits of the greater liquidity that large universal banks can provide to capital markets are offset by the dangers they create when they err. Because mistakes at these large banks are often allowed to grow in size to match the size of the banks, they distort prices on financial markets and sometimes create systemic risk. Two recent examples are given: J.P. Morgan Chase Bank's ‘London whale’ fiasco and UBS, Merrill Lynch and Citibank's exposures to subprime mortgages. Finally, the paper explains that the Senate Report on the Glass–Steagall Act indicates that the Act was designed in part to limit commercial bank participation in the margin loan market, as this activity makes possible a feedback loop between increases in the money supply and increases in asset prices, which in turn can generate an asset price bubble in capital markets. The recent crisis has led modern researchers to rediscover the relationship between margin lending, feedback loops, and asset price bubbles that was well understood by at least some legislators in the 1930s. The paper argues that the recent crisis demonstrates that modern banking regulation needs to be informed by an understanding of the consequences that may arise when a financial system is dominated by universal banks.
Ownership Structure and Firm Value in China's Privatized Firms: 1991–2001

This paper investigates the relation between ownership structure and firm value across a sample of 5,284 firm years of China's partially privatized former state-owned enterprises (SOE) from 1991-2001. We find that state and institutional shares are significantly negatively related to Tobin's Q, and that significant convex relations exist between Q and state shares, as well as between Q and institutional shares. We also find that foreign ownership is significantly positively related to Tobin's Q. We test for potential endogeneity of ownership, and find that Q and state/foreign ownership are not jointly determined. We also test for time-series, industry, and geo-economic location effects, and find our results to be robust.
The Future of Abandoned Big Box Stores : Legal Solutions to the Legacies of Poor Planning Decisions

Big box stores, the defining retail shopping location for the majority of American suburbs, are being abandoned at alarming rates, due in part to the economic downturn. These empty stores impose numerous negative externalities on the communities in which they are located, including blight, reduced property values, loss of tax revenue, environmental problems, and a decrease in social capital. While scholars have generated and critiqued prospective solutions to prevent abandonment of big box stores, this Article asserts that local zoning ordinances can alleviate the harms imposed by the thousands of existing, vacant big boxes. Because local governments control land use decisions and thus made deliberate determinations allowing big box development, this Article argues that those same local governments now have both an economic incentive and a civic responsibility to find alternative uses for these “ghostboxes.” With an eye toward sustainable development, the Article proposes and evaluates four possible alternative uses: retail reuse, adaptive reuse, demolition and redevelopment, and demolition and regreening. It then devises a framework and a series of metrics that local governments can use in deciding which of the possible solutions would be best suited for their communities. The Article concludes by considering issues of property acquisition and management.
The Institutional Appetite for Quack Corporate Governance

This Article offers evidence that higher quality internal corporate governance is associated with higher levels of ownership by institutional investors. This finding is consistent with the idea that institutions have greater reason than individual investors to prefer well-governed firms, but surprising given the substantial empirical evidence that casts doubt on the efficacy of internal governance mechanisms. The study described in this Article also finds that higher quality external governance is associated with lower proportions of ownership by certain types of institutional investors, also a somewhat surprising result given available empirical evidence on the positive relationship between external governance and firm performance. After largely dismissing competing explanations for these findings, I conclude that institutional investors, as a group, generally prefer internal governance mechanisms over external governance mechanisms or have a higher tolerance for low-quality external governance than for low-quality internal governance. I argue that these preferences are reasonable and suggest that when debating the efficacy of governance mechanisms, the preferences of informed, sophisticated investors be afforded greater weight than is currently the case.
REGULATION OF THE INTERNET: THREE PERSISTENT FALLACIES

This article responds to three papers in a symposium on Internet regulation. The articles all argue that the Internet is a novel phenomenon that promises to transform legal regulation. My main claim is that each article illustrates a fallacy that pervades the Internet regulation literature. An article by David Post and David Johnson offers a normative argument for governmental non-regulation of the Net. But their argument, like many arguments about jurisdiction over Internet transactions, erroneously assumes that cyberspace is a place hermetically separated from the "real" world. Dan Burk's article, which analyzes the Internet's effect on national copyright regulation, rests on a common but incomplete understanding of how nations regulate transnational transactions. Henry Perritt argues that the Internet will strengthen international law. This argument exemplifies the Internet literature's unjustified optimism about the promise of cheap, plentiful information. I contend that all three articles err because of an obsessive focus on what is new about the Internet, at the expense of what is old about it.
Payment Systems and Interchange Fees

In a typical bank credit card transaction, the merchant’s bank pays an interchange fee, collectively determined by all participating banks, to the cardholder’s bank. This paper shows how the interchange fee balances charges between cardholders and merchants under imperfect competition. The privately optimal fee depends mainly on differences between cardholders’ and merchants’ banks, not their collective market power. In a non-extreme case, the profit-maximizing interchange fee also maximizes total output and producers’ plus consumers’ surplus. There is no economic basis for favoring proprietary payment systems, which do not need interchange fees to balance charges, over the cooperative bank card systems.
Games Rivals Play: Terrorism in International Rivalries

The quantitative terrorism literature has largely overlooked interstate relations when evaluating predictors of transnational terrorist attacks, opting to focus on state, group, or individual-level factors to explain patterns of terrorism using analytical methods that are limited to either the origin or target of the attack. In this piece we argue that this is both incongruous with the larger conflict literature and limiting in terms of theoretical impact. Transnational terrorism in many cases is more accurately considered a component of conflicting relations between two states generally hostile towards each other, which necessitates an examination of both states. We demonstrate, by conducting a series of statistical analyses using politically relevant directed dyads, that interstate rivalries are reliable positive predictors of transnational terrorism. We find that interstate rivalries explain a great deal of variation in cross-national patterns of terrorism, a result that is robust to different rivalry ...
ADAPTING THE LOOKING GLASS: FACTORS AFFECTING CHANGE IN ENTREPRENEURS’ OPPORTUNITY IMAGES

Given the importance of the CEO in adapting to a changing environment, and the role that identification of opportunities for change plays in organizational adaptation, with this study we investigate the individual-level cognitive factors that affect change in a CEO’s existing opportunity images. With a sample of 64 presidents/owners/CEOs of technology firms and using an opportunity-based decision-making task, we find that decision makers’ metacognitive resources and perceptions of the environment are related to changes in their opportunity images: metacognitive knowledge and perceived hostility positively related to change, and metacognitive experience and perceived dynamism negatively related to change. These results not only shed light on processes central to entrepreneurship but also on processes relating to the creation of dynamic capabilities—which at their core involve the type of adaptation and change this research investigates.
Unknown wage offer distribution and job search duration

Abstract If job searchers do not know the wage offer distribution they are facing, they might take the wage structure in their last firm as a prior. Doing so, reservation wages will be biased which will also bias unemployment duration. Using data for Austrian workers it is shown that workers seem to have good knowledge of expected mean wages, but less so for higher moments of the wage offer distribution.
Direct Inflation Targeting in Central Europe

This paper discusses perceived benefits and disadvantages of direct inflation targeting for economies in transition in Central Europe. It examines the experience of net inflation targeting in the Czech Republic and of CPI forecast targeting regimes in Poland, providing specific suggestions for enhancing transparency of monetary policy. Inflation targeting is compared with exchange-rate pegging and is viewed as a superior solution for facilitating the monetary convergence of central European EU candidates to the inflation level prevailing in the eurozone. Other benefits of inflation targeting for central banks in transition economies are described as well. Journal of Economic Literature, Classification Numbers: E31, E52, P33. 5 figures, 2 tables, 22 references.
A welfare analysis of Canadian chartered bank mergers

An econometric model of Canada’s five largest banks is estimated using time series data from 1976 to 1996. The principal findings are that chartered bank technology is characterized by increasing returns to scale. Scale efficiency is sufficiently large to offset the consequences of reduced competition that might have arisen from a merger between Bank of Montreal and Royal Bank of Canada, Canadian Imperial Bank of Commerce and Toronto Dominion Bank, or both. The estimated model predicts that all the mergers proposed in 1998 would have led to slightly lower prices and, consequently, to an increase in consumer welfare. Une analyse de bien–etre des fusions des banques a charte canadiennes. L’auteur calibre un modele econometrique des cinq plus grandes banques a charte au Canada a l’aide de series chronologiques de 1976 a 1996. Les principaux resultats montrent que la technologie des banques a charte a des rendements croissants a l’echelle. Ces rendements a l’echelle sont suffisamment importants pour compenser les effets de reduction de la concurrence qui auraient pu se produire en consequence de la fusion de la Banque de Montreal et la Banque Royale, de la Banque Imperiale de Commerce et de la Banque Toronto–Dominion, ou des deux. Le modele suggere que toutes les fusions proposees en 1998 auraient entraine des prix legerement plus bas, et en consequence un accroissement dans le niveau de bien–etre des consommateurs.
Structural Regulation as Antidote to Complexity Capture

This article proposes a new way of thinking about the ways in which market complexity threatens the future viability of financial regulation. It examines financial complexity in the context of the ample literature on complexity from the physical and social sciences that has, to date, been underappreciated in law and economics scholarship. According to this physical and social science literature, complexity means something more than “very complicated” or “difficult to understand.” Regulators, like all agents charged with tasks, are limited by their bounded rationality. But in conditions of complexity, the problem of regulators’ bounded rationality emerges as less of an obstacle to be overcome than a structural impediment to effective policy. To the extent regulators rely on industry itself to provide the information they require to make a good-faith effort at performing their statutory mandates, they risk complexity capture — a soft, hegemonic capture of even virtuous, public-regarding regulators who are resistant to traditional capture efforts by industry. This article’s contribution to the financial regulatory literature is to investigate financial market complexity in detail, drawing on recent research by complexity scientists. But highlighting the inherent difficulties of regulating complexity is only a diagnostic, preliminary step. This article proposes further a model of structural regulation — as opposed to behavior-based regulation — as an antidote to complexity capture. It is hoped that this article, by developing the notion of complexity capture and demonstrating the problems associated with continued reliance on industry-provided information and/or highly particularized systems of behavioral regulation, also makes a modest contribution to efforts to theorize a regulatory approach to combat the instability that complexity necessarily entails.
Rodrigo's Third Chronicle: Care, Competition, and the Redemptive Tragedy of Race

Rodrigo drops in on “the professor” to discuss a problem that arose in one of his LL.M. classes. Rodrigo wrote a seminar paper that won a national prize for student writing, but his professor did not like it and suggested a major rewrite. His paper proposed a way to reconcile the age-old conflict between socialism and capitalism, the two major competing modes of economic organization in the world. Essentially, Rodrigo suggests that societies should socialize (subsidize) the caregiving sector completely, while other sectors, such as those devoted to consumer products like clothing or electronics, would be relegated to competitive, dog-eat-dog capitalism. The nurturing sector, including teachers, health care givers, and social workers, would not need to compete with each other, but the productive sector would. This would draw out the best energies and inclinations of both sets of workers and allow synergies between them, such as incentivizing the competitive sector to vie for contracts to provide the best teaching materials and electronics for the public schools, which would otherwise be financed entirely by the state. The two discuss how to placate the professor who wanted a more prosaic paper than the one Rodrigo submitted.
What’s Wrong with Infringements (Insofar as Infringements are not Wrong): A Reply

An earlier article of mine, 'Lost in Moral Space: On the Infringing/Violating Distinction and its Place in the Theory of Rights', was devoted to rebutting Judith Jarvis Thomson's arguments in favor of incorporating the distinction between (permissibly) infringing and (impermissibly) violating a right. In 'A Defence of Infringement', Andrew Botterell maintains that my criticisms and attempted rebuttals of Thomson's position fail, and that despite my efforts to show otherwise, the category of right infringements is secure. In this reply, I explain why I demur.
Worker morale in Russia: an exploratory study

Purpose – Despite unanimous agreement in the existing literature that morale influences employee performance, no well‐defined measure of morale exists. In Russia, identifying the factors that contribute to employee morale is particularly important since firms face difficult financial challenges imposed by the decade‐long economic and political transition that began in January 1992. The study aims to develop a robust measure of morale and focuses on the factors that influence morale among Russian workers.Design/methodology/approach – Survey data were collected from Russian employees at two different points in time, 1995 and 2002, in five Russian cities (Moscow, St. Petersburg, Taganrog, Rostov and Azov). The study used regression analysis to assess the influence of expected rewards on employee morale.Findings – The paper finds that among the workers participating in the study, expectation of receiving a desired reward contributes to high morale, with expected monetary rewards having a higher influence that...
Contracts and Automation: Exploring the Normativity of Automation in the Context of U.S. Contract Law and E.U. Consumer Protection Directives

Given a choice between two systems of contract rules, a court or legislature may have a normative obligation to adopt the rule that is more susceptible to coding and automation. This paper explores the ramifications of that normative proposition through the lens of multiple contract doctrines that traditionally involve “messy” judgments or multiple interacting judgments regarding which human beings are – arguably – capable of making finely nuanced analyses. Using the common law doctrine of unconscionability and Polish Civil Code Article 385 on unfair terms in consumer contracts, this paper explores the differences between contract rules that require human analysis versus those that can be applied with strong reliability by automated processes. Finally, the paper analyzes some of the potential pitfalls of this normative proposition in light of technological, economic, and moral/ethical concerns.
Accretion, winds and outflows in young stars

Young stars and planetary systems form in molecular clouds. After the initial radial infall an accretion disk develops. For classical T Tauri stars (CTTS, F-K type precursors) the accretion disk does not reach down to the central star, but it is truncated near the co-rotation radius by the stellar magnetic field. The inner edge of the disk is ionized by the stellar radiation, so that the accretion stream is funneled along the magnetic field lines. On the stellar surface an accretion shock develops, which is observed over a wide wavelength range as X-ray emission, UV excess, optical veiling and optical and IR emission lines. Some of the accretion tracers, e.g. Hα, can be calibrated to measure the accretion rate. This accretion process is variable on time scales of hours to years due to changing accretion rates, stellar rotation and reconfiguration of the magnetic field. Furthermore, many (if not all) accreting systems also drive strong outflows which are ultimately powered by accretion. However, the exact driving mechanism is still unclear. Several components could contribute to the outflows: slow, wide-angle disk winds, X-winds launched close to the inner disk rim, and thermally driven stellar winds. In any case, the outflows contain material of very different temperatures and speeds. The disk wind is cool and can have a molecular component with just a few tens of km s–1, while the central component of the outflow can reach a few 100 km s–1. In some cases the inner part of the outflow is collimated to a small-angle jet. These jets have an onion-like structure, where the inner components are consecutively hotter and faster. The jets can contain working surfaces, which show up as Herbig-Haro knots. Accretion and outflows in the CTTS phase do not only determine stellar parameters like the rotation rate on the main-sequence, they also can have a profound impact on the environment of young stars. This review concentrates on CTTS in near-by star forming regions where observations of high spatial and spectral resolution are available. (© 2013 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim)
Comment on McCready and Maloney on wealth taxation

The line between normative and positive economic analysis is, supposedly, a sharp one. The former allows for value judgments, the latter does not. This distinction is mentioned in all basic texts in our profession, and in all introductory courses. Then, all too often, such as in the present cases, it is promptly forgotten. The profession of economics, in the main, pays lip service to this bifurcation, but when push comes to shove, and the heat of ideological battle warms up, it is jettisoned.In this comment, I shall take issue with both Professor McCready (“The Case against Wealth Taxation”) and Dean Maloney (“The Case Against Wealth Taxation: A Reply”), which is, in effect, an attempt to make the case for wealth taxation. My point is not to claim that value-free economics can be adduced in support of either of these positions, the view taken by both McCready and Maloney, respectively, on opposite sides of this issue; rather, I shall attempt to show that as far as positive science is concerned, neither perspective can be successfully defended.
Housing Cycles and Macroeconomic Fluctuations: A Global Perspective

Abstract This paper investigates the international spillovers of housing demand shocks on real economic activity. The global economy is modeled using a Global VAR, with a novel house price data set for both advanced and emerging economies. The impulse responses to an identified U.S. housing demand shock confirm the existence of strong international spillovers to advanced economies. In contrast, the response of some major emerging economies is not significantly different from zero. Moreover, the analysis of synchronized housing demand shocks speaks in favor of the recent evidence of increased resilience of emerging economies to shocks originating in advanced economies; and it also suggests that a close monitoring of housing cycles in advanced economies as well as in emerging economies should be of interest for policy-makers.
A game theoretic analysis of tariffs, dynamic inconsistency, resource conservation, and trade

Batabyal and Beladi (2004) have used a game model to study trade in a renewable resource between a single buyer and a single seller. The buyer uses a unit tariff to obliquely encourage conservation of the renewable resource and the entire harvest from the resource is exported to the importing nation. In this setting, it is shown that the efficacy of the unit tariff in promoting conservation depends crucially on whether harvesting costs are stock dependent or independent. When harvesting costs are stock independent (dependent), the optimal open loop unit tariff is time consistent (inconsistent). Does this result hold when the buyer and the seller consume a portion of the harvest from this resource? It is shown that the Batabyal and Beladi result holds even when there is domestic consumption of a portion of the harvest in the exporting country. The study concludes by discussing the implications of this finding for renewable resource conservation in general.
The Effects of Currency Crises in Emerging Markets on the Industrial Sector: An Alternative Regime-Shifting Approach

We analyze the effects of currency crises on the industrial sectors of Korea, Turkey, and the Czech Republic. We find that the interval for the effect of the currency crisis on the industrial sector to disappear is around four years for Korea after the 1997 currency crisis; around five and seven years for Turkey following the 1994 and 2001 currency crises, respectively; and around five years for the Czech Republic following the 1997 currency crisis. For all three countries, the effects of the currency crises on the industrial sector disappear in a longer interval than does the effect of any other economic issue.
A Note on the Application of EC2SLS and EC3SLS Estimators in Panel Data Models

Abstract Baltagi and Li [Baltagi, B.H., Li, Q., 1992. A note on the estimation of simultaneous equations with error components. Econometric Theory 8, 113–119] showed that for estimating a single equation in a simultaneous panel data model, EC2SLS has more instruments than G2SLS. Although these extra instruments are redundant in White’s [White, H., 1986. Instrumental variables analogs of generalized least squares estimators. In: Mariano, R.S. (Ed.), Advances in Statistical Analysis and Statistical Computing, vol. 1. JAI Press, New York, pp. 173–277] terminology, they may yield different estimates and standard errors in empirical studies with finite N and T. We illustrate this using the crime data of Cornwell and Trumbull [Cornwell, C., Trumbull, W.N., 1994. Estimating the economic model of crime with panel data. Review of Economics and Statistics 76, 360–366]. We show that the standard errors of EC2SLS are smaller than those of G2SLS for this example. In general, we prove that the asymptotic variance of G2SLS differs from that of EC2SLS by a positive semi-definite matrix. Although this difference tends to zero as the sample size tends to infinity, in small samples, this difference may be different from zero and can lead to gains in small sample efficiency. This proof is extended to the system equations’ 3SLS counterparts.
The effect of the Rana Plaza disaster on shareholder wealth of retailers: Implications for sourcing strategies and supply chain governance

Abstract Supply chain and reputational risks are often assumed to motivate firms to source production in developed, high-cost countries rather than developing, low-cost countries. To examine this assumption, we provide evidence from the collapse of the Rana Plaza building on April 24, 2013, which with its 1133 fatalities and 2438 injuries is seen as one of the worst industrial accidents in history. Do markets reactive negatively enough to such events to motivate firms to shift their sourcing strategy? We analyze the stock market reaction to the Rana Plaza disaster in the Bangladeshi ready-made garment industry to address this question. Our analysis is based on a sample of 39 publicly traded global apparel retailers with significant garment sourcing in Bangladesh. Stock market reaction to retailers on the day of the Rana Plaza disaster is negative, but its magnitude and significance dissipate by the following day. We find no evidence of significant stock market reaction during the 11 trading days (approximately two weeks in calendar time) following the disaster. Retailers responded to the disaster by developing two different agreements to improve factory and worker safety in Bangladesh – the Accord on Fire and Building Safety in Bangladesh (AFBSB), and the Alliance for Bangladesh Worker Safety (ABWS). We find no evidence of significant stock market reaction to the announcements of the AFBSB and the ABWS. The insignificant negative economic impact from the Rana Plaza disaster suggests that retailers have little economic incentive to move sourcing out of Bangladesh or other low-cost countries so as to reduce the risk of being involved in such events. We discuss the implications of our results for retailers, non-governmental organizations (NGOs), garment factory owners in Bangladesh, the Bangladeshi government, and academic researchers.
A Tendency to Deprave and Corrupt: The Transformation of American Obscenity Law from Hicklin to Ulysses II

How is it that between 1922 and 1934, James Joyce's Ulysses, considered the greatest English language novel of the twentieth century, could not get published in the United States without risk of prosecution and jail? How did American law get its ideas about obscenity and censorship so wrong? This Article closely analyzes the facts and the reasoning, or lack of reasoning, in R. v. Hicklin, the Queen's Bench decision of 1868 whose throwaway single sentence defining obscenity was reflexively adopted by American courts and became the greatest legal impediment to artistic freedom in the United States for nearly a century. The Article traces Hicklin's influence in the United States through the first third of the twentieth century. Using archival and other sources, it then closely examines the first court test of a part of Ulysses, in New York in 1920-21, a case that might have been won, but ended in the obscenity convictions of two women who published an obscure literary magazine. Their convictions impeded publication of the book until Morris Ernst's brilliant legal strategy gave his client, Random House, confidence that it could publish Ulysses in the United States without fear of prosecution. While the district court decision in Ernst's favor is rightly applauded for freeing Ulysses, the judge's reasoning does not resemble anything we can recognize as law. It is a decision for one book only. Even Augustus Hand's opinion for the Second Circuit affirming Ernst's victory, which cousin Learned joined and which contains the seeds of modern obscenity doctrine, required some jurisprudential sleight of hand to escape unfavorable circuit and Supreme Court precedent. The story from Hicklin to Ulysses II is both riveting in itself and as legal and cultural history. But it is also a lesson about harm done when government interferes with the intellectual and personal autonomy of individuals.
Chimeras: Double the DNA-Double the Fun for Crime Scene Investigators, Prosecutors, and Defense Attorneys?

The evolution of knowledge about the genetic material that makes us the mono-genetically unique individuals we think we are continues to surprise us with the discovery that there actually are living, breathing human chimeras around us. The only thing that distinguishes the chimeras from the rest of the human beings on the planet lies hidden deep within them in their genetic codes, and only a handful have been identified. While the term "chimera" is often associated with hermaphrodites, who have both male and female sexual organs, it in fact covers a wider range of individuals who have two separate and distinct DNA strands in their bodies. Unlike hermaphrodites, these other chimeras are quite difficult to discover because they are derived from two same-sex embryos and may have no external differentiating features. In addition, there is a condition called microchimerism, or blood chimerism, which results in different types of DNA, albeit in smaller populations, in blood. Thus, at least from a genetics perspective, there are in fact some of us who are "more unique" than others.This article first explores the mythological origins of the term "chimera." It then explores the causes and scientific explanations of chimerism and the various conditions covered by the term chimera in the area of genetics. Although this article will discuss the various chimeric conditions that are thought to exist, its primary focus is on chimerism that is the result of the fusing of embryos in utero. Next, the article will discuss recent cases of chimerism - and of alleged chimerism - and how the genetic differences between chimeras and the general population came to light. It also will discuss the implications that chimerism may have on the investigation, prosecution, and defense of criminal cases by providing hypothetical criminal scenarios involving a chimeric defendant. Finally, the article will address the possibility that chimerism may have a "Reverse CSI Effect" on criminal cases.