Recent changes in the housing status of blacks in los angeles

In the aftermath of reductions in federal housing assistance programs during the 1980s, many cities are experiencing severe shortages of affordable housing. It is particularly difficult for low income and minority households to find and maintain adequate, low-cost housing. This article describes how Los Angeles has responded to this need through implementation of a particular housing policy and financing strategy. It specifically examines what impacts this program has had in producing affordable housing in the city’s low-income, minority neighborhoods. Recommendations for further public action on housing needs in Los Angeles are also offered.     

Limit Order Book as a Market for Liquidity

We develop a dynamic model of a limit order market populatedby strategic liquidity traders of varying impatience. In equilibrium,patient traders tend to submit limit orders, whereas impatienttraders submit market orders. Two variables are the key determinantsof the limit order book dynamics in equilibrium: the proportionof patient traders and the order arrival rate. We offer severaltestable implications for various market quality measures suchas spread, trading frequency, market resiliency, and time toexecution for limit orders. Finally, we show the effect of imposinga minimal price variation on these measures.     

The Stolper–Samuelson Theorem Faces Congress

The factor–industry detachment corollary of the Stolper–Samuelson theorem predicts that the economic interests of trade policy are independent of industry and depend only on the type of factor ownership. This paper examines whether congressional voting patterns on trade policy are determined by the factor endowment of the constituency or by its industrial composition. The industry model of trade policy determination is not rejected by the empirical tests while the results for the factor model are ambiguous. This provides evidence that the literature examining congressional voting patterns on broad-based trade policy should re-evaluate the maintained assumption that factors do not matter.     

Capital intensive education policy issues and problems

This paper describes some of the problems of today's mass schools and suggests that the technology is already available to replace them with more effective and efficient ones using capital intensive man-machine methods of instruction. It discusses some of the political and labor problems that may impede implementation and makes suggestions how these may be overcome.Research findings on the development of such schools are examined. A generalized model of such schools is presented based on a number of studies suggesting it will be substantially more cost-effective than its contemporary counterparts. The politics of change is discussed and specific strategies for implementation are suggested, the most immediate of which is the provision of federal or state funds for development of operating models of capital intensive schools. The key role of teacher union negotiations in facilitating or impeding changes is considered along with the present teacher union posture of opposition. It is suggested that teacher unions can best serve their own interests by cooperating in the development of capital intensive schools while bargaining to assure that their members share appropriately in the benefits of the improvements they bring.     

Four Simple Tests of Campaign Contributions and Trade Policy Preferences

This paper uses campaign contribution data to examine trade policy preferences among political action committees. With perfect factor mobility, as the Heckscher–Ohlin (HO) model assumes, interest group trade positions should depend on their factor of production but not on their industry. We show, consistent with the 2 × 2 HO model, that capital groups consistently back representatives supporting trade liberalization while labor groups favor protectionists. Unlike previous work, we also measure the variation in trade policy preferences within capital and labor groups. We find evidence that the industry net export position significantly affects labor unions' trade policy preferences. Industry characteristics have no impact on capital group lobbying. The former result suggests that empirical analyses of labor PAC contributions that exclude industry characteristics may be misspecified.     

GROWTH, INEQUALITY, AND POVERTY: A CAUTIONARY NOTE

Economic growth had less impact on poverty rates in the 1980s than in the 1960s. Could this be explained by Locke Anderson's observation that the higher median income, the greater the amount of growth needed to achieve a percentage point fall in the poverty rate? No, higher poverty rates are due instead to the rise in income inequality. With higher inequality, however, trickle down could be as effective in the 1990s as it was in the late 1960s. More generally, assessments of anti-poverty policy must recognize that inequality is as vital to changes in the poverty rate as growth in mean income.     

The effect of information load on decision makers' cue utilization levels and decision quality in a financial distress decision task

Seventeen practising auditors and sixty-seven accounting students participated in a decision making experiment that examined the effect of increasing amounts of accounting information on cue usage and decision quality. Each participant made financial distress decisions under three levels of information load. Approximately one-third of those participating apparently experienced information overload and exhibited an inverted-U relationship between information usage and information load; the others exhibited patterns of increasing cue usage. The individuals who apparently experienced information overload also reached decisions of lesser quality, as indicated by significantly lower decision making consistency, lesser agreement with a composite judge, and lower consensus.     

Tourism and income strategies in Nazaré, Portugal

The stratification literature indicates that those who control the means of production gain greater benefits than those who do not, and that their introduction may affect a community's income distribution. This research attempts to determine the impacts of tourism on household incomes and the pattern of stratification in a Portuguese village and the various strategies which families employ to deal with change. It concludes that housing is a key factor because of tourism and that those families who have housing can significantly increase their incomes and elevate their position in the community hierarchy, although access to the elite strata is limited and tourist revenues have not affected the overall pyramidal form of stratification in the village.