COVID-19 and the US Safety Net*

We examine trends in employment, earnings and incomes over the last two decades in the United States, and how the safety net has responded to changing fortunes, including the shutdown of the economy in response to the COVID-19 pandemic. The US safety net is a patchwork of different programmes providing in-kind as well as cash benefits, and it had many holes prior to the pandemic. In addition, few of the programmes are designed explicitly as automatic stabilisers. We show that the safety net response to employment losses in the COVID-19 pandemic largely consists only of increased support from unemployment insurance and food assistance programmes, an inadequate response compared with the magnitude of the downturn. We discuss options to reform social assistance in the United States to provide more robust income floors in times of economic downturns.     

The Effect of SNAP and School Food Programs on Food Security,Diet Quality,and Food Spending: Sensitivity to Program Reporting Error

There is an extensive research literature on the effects of the Supplemental Nutrition Assistance Program (SNAP) on food‐related outcomes which has shown somewhat mixed results but generally favorable effects. However, most of the research has used data sets whose information on SNAP participation is gathered from responses on household surveys, and such responses are subject to reporting error. This study uses the National Household Food Acquisition and Purchase Survey data set to examine the effect of reporting error on food‐related outcomes, for that data set contains information on SNAP participation gathered from government administrative records. Our analysis shows that the degree of reporting error is small and has little effect on the estimated impact of participation in the SNAP program on food security, diet quality, and food spending. A supplemental analysis of the effect of school food programs likewise shows no difference in using survey or administrative data in the analysis.     

Critical Theoretical Considerations of Public Relations Messaging Around the Globe: Tools for Creating and Evaluating Campaign Messages

This study employs several critical theories in order to demonstrate their explanatory power in understanding public relations communication, globalization within campaign communication, and, in particular, some sample campaign messages drawn from public relations research and practice. In particular, critical theories of cultural studies, semiotics, and postmodernism inform the design and understanding of public relations messages through the tools of analysis they offer and through the rich vocabulary they provide. This study argues that public relations is the logical business communication discipline to develop theory and research into campaign message design and globalization issues utilizing the critical paradigm.     

Risky business: The role of risk in voluntary turnover decisions

One aspect of turnover decision-making that turnover models have not adequately considered is the risk associated with quitting one's job and the potential that research on risky decision-making has for advancing understanding of turnover. We define risk and present turnover as a risky decision; review previous applications of risk in turnover theory; review literature on decision-making under risk as it applies to turnover; integrate these literatures and provide propositions. Our analysis suggests that individual differences, frames of reference, the decision context, and social influences affect perceptions of the risk associated with quitting as well as the willingness to take risks in this particular situation. The implications of turnover risk perceptions and turnover risk propensity for turnover theory and research are discussed.     

RISK-EFFICIENT THRESHOLDS FOR PEST CONTROL DECISIONS

Risk and uncertainty are incorporated in an economic model to develop risk-efficient pest control advice similar in character to advice currently being offered by researchers to farmers. An example to illustrate computation of risk-efficient advice is presented and implications of risk aversion for efficient pest control advice and average pesticide use are examined.     

FOOD STAMPS,TEMPORARY ASSISTANCE FOR NEEDY FAMILIES AND FOOD HARDSHIPS IN THREE AMERICAN CITIES

We examine how participation in the Food Stamp and Temporary Assistance for Needy Families Programs is associated with self‐reported household food hardships, using data from a longitudinal survey of low‐income families living in Boston, Chicago and San Antonio. In addition to the measures of hardships and program participation, the survey includes measures of income, wealth, social resources, disability, physical health and family structure, measures that help us to account for selection between recipient and non‐recipient households. For our multivariate analyses, we estimate multiple indicator multiple cause models that are modified to incorporate discrete outcome variables and to account for longitudinal data. Estimates from these models reveal that participation in the Food Stamp Program is associated with fewer food hardships, while participation in the Temporary Assistance for Needy Families program has no detectable association with hardships.     

Do artificial income smoothing and real income smoothing contribute to firm value equivalently?

This paper examines the potential impacts of artificial smoothing (abnormal accruals) and real smoothing (derivatives) on firm value. We find that the value of the firm decreases with the magnitude of abnormal accruals and increases with the level of derivative use. Moreover, the accrual discount is more pronounced in firms with weak investor protection and the hedging premium is greater for poorly governed firms. These results suggest that although managers can engage in real smoothing to improve the informativeness of firms’ earnings and thus reduce agency costs, they might use artificial techniques to cosmetically improve the income stream in order to expropriate minority shareholders. In further support of agency theories, we report that poor corporate governance motivates the use of abnormal accruals and discourages derivative use.