Are Minorities or Minority Neighborhoods More Likely to Get Low Appraisals?

We empirically examine the role of appraisal in the residential mortgage lending process—in particular, the incidence, consequences, and determinants of appraisal below contract purchase price. Using the Boston Federal Reserve Study data set, we find that, as expected, low appraised value significantly increases the probability of mortgage loan application rejection. We find no evidence that low appraised value is related to census tract racial composition, an important finding given the history of the appraisal industry; however, low appraised value is related to proxies for neighborhood quality. Moreover, properties securing adjustable rate mortgages, condominiums, and properties purchased by African American buyers show an increased probability of low appraisal, though the race effect result is highly sensitive to model specification.     

Regional variations in US consumer response to price changes in home heating fuels: the Northeast and the South

This paper considers the paradox of a consistent net outflow of people from areas of high job creation and wages over the past 20 years and suggests the explanation that different individuals have different motivations for moving. The Labour Force Survey indicates that workers moving for job reasons have migrated to areas of low unemployment and high nominal wages. However, the inflow into such areas has been more than compensated for by an outflow of people moving for non-job reasons. A logit analysis of destination choice indicates that job movers are attracted to areas with high wages but are not affected by high house prices in such areas. In contrast, active non-job movers are deterred from areas of high house prices. Regional house price differences do not influence the destination choice of homemakers or the terminally sick but they do influence the destination choice of retirees. All groups prefer to travel the least distance when moving.     

The development of mass media in Asia-Pacific

This article, and one to follow in the next issue, is adapted from a scene-setting chapter in the book Mao and the Millennium, edited by Andrew Green, which deals with television in modern China. This extract covers the different ways newspapers and radio have developed in different parts of the Far East. It will be followed by a similar coverage of television.     

Geographies of wealth: real estate and personal property ownership in England and Wales, 1870–1902

This article explores the composition and geographies of individual wealth holding in England and Wales in the late nineteenth century. It draws on various forms of death duty records to determine the individual ownership of wealth including both personal property and real estate. By combining information on these different kinds of property, it is possible to explore how different strata of wealth holders accumulated specific forms of wealth at the time of their death. The article then examines how the composition of that wealth varied according to the wealth holder's location in the urban hierarchy and distance from London. It points out important geographical differences in both the scale and nature of wealth holding and raises questions about the implications of these findings.     

China's Mysterious Gas

Car sales in China are booming,but gasoline consumption seems to be stuck in the slow lane.Chart 1 illustrates this apparent mystery(it shows sales of petroleum and oil products,since.we do not have data on retail gasoline sales).     

Changing policy priorities for sport in England: the emergence of elite sport development as a key policy concern

This paper reviews the emergence of ‘sport’ as a sector of public policy interest from the 1960s to 2002. Central to the paper is the manifestation of ‘elite sport development’ as a key policy concern from the mid‐1990s onwards. While the emergence of elite sport policy objectives is the focus, the increased activity around sport at regional and sub‐regional levels in England also requires attention. The paper's theoretical argument is that, in large part, the effect of policy is primarily discursive; it changes the possibilities we have for thinking ‘otherwise’. In this respect, the discursive construction of sport policy is problematized. Here, the literature addressing ‘policy as discourse’ and, more specifically, that which analyses the ‘discursive strategies’ shaping school sport and physical education policy is helpful in sensitizing us to the inherent power relations hidden within the contours of sport policy debates. This analysis leads to questions surrounding opportunities for ‘alternative voices’ within a context of discursive activity that privileges elite performance. In this regard, the study concludes by offering avenues of future research for the analysis of sport policy processes.     

Entry Strategies and Market Performance Causal Modeling of a Business Simulation

A key decision faced by marketing managers is the development of entry strategies for new markets. In addition to selecting which product market to enter, the manager must make decisions about the entry strategy itself. The entry strategy, whether managed actively or passively, affects the entrant's performance. In this article, Donna Green and Adrian Ryans discuss the three major components of an entry strategy: the timing of entry, the magnitude and areas of investment and the basis for competitive emphasis. They report that very little empirical research has focused on relationships between entry strategy and eventual product performance.     

Dominion or Republic? Migrants to North America from the United Kingdom, 1870–1910

Late nineteenth–century Canada attracted a large number of immigrants from the UK, despite far lower average income per head there than in the US. While urban labour markets in the northern US were much larger than those in Canada, differences in outcomes between UK immigrants in Canadian and in northern US cities were small. Average annual real earnings by occupation group were only 10 to 15 per cent lower in Canadian cities. Individual–level census data indicate that the occupational distribution of UK immigrants in Canada was quite similar to that of their peers in the US.