Historic District Influence on House Prices and Marketing Duration

Historic property designations have been lauded for spurring renovation beyond the historic structures themselves through positive externalities in surrounding neighborhoods. Previous historic district research focuses on whether historic designation results in a price premium. This paper takes a more comprehensive look at the buying process, which must consider marketing duration within the historic district as well as influences on the sale of properties adjacent to the historic district. We examine how historic district designation in Baton Rogue, Louisiana is capitalized either through a price premium or marketing duration and how that mechanism differs between neighborhoods inside and outside the historic district boundaries. We employ a three stage least square, 3SLS, model to account for the effects of endogenous marketing duration on price capitalization estimates. The estimates are consistent with search-market theory in that marketing duration absorbs part of the capitalization of historic designation. We find that the more certain benefits from historic designation within the district are reflected in a price premium while the reduced regulation coupled with the cachet of being located near but not inside the district result in shorter marketing duration.     

HOUSEHOLD SAVING IN THE '90s: EVIDENCE FROM CROSS-SECTION WEALTH SURVEYS

This paper uses a series of cross-section surveys to measure how wealth accumulation and active saving rates varied across cohort-groups during the early and mid 1990s. Our estimated rates of saving and wealth change across cohorts show a somewhat more dramatic life-cycle pattern than found in previous studies, in part because we use a new technique, and in part because the cross-section wealth surveys we use oversample the wealthiest families whose behavior dominates aggregate changes. Adjusting the wealth-change rates for bequests and subtracting out the capital gains component of wealth change move the estimates in the direction of results from previous studies, but the biggest changes in that direction result from excluding the top of the wealth distribution in each year.     

Analyzing the volume and nature of emergency medical calls during severe weather events using regression methodologies

An effective emergency medical service (EMS) response to emergency medical calls during extreme weather events is a critical public service. Nearly all models for allocating EMS resources focus on normal operating conditions. However, public health risks become even more critical during extreme weather events, and hence, EMS systems must consider additional needs that arise during weather events to effectively respond to and treat patients. This paper seeks to characterize how the volume and nature of EMS calls are affected during extreme weather events with a particular focus on emergency preparedness. In contrast to other studies on disaster relief, where the focus is on delivery of temporary commodities, we focus on the delivery of routine emergency services during blizzards and hurricane evacuations. The dependence of emergency service quality on weather conditions is explored through a case study using real-world data from Hanover County, Virginia. The results suggest that whether it is snowing is significant in nearly all of the regression models. Variables associated with increased highway congestion, which become important during hurricane evacuations, are positively correlated with an increased call volume and the likelihood of high-risk calls. The analysis can aid public safety leaders in preparing for extreme weather events.     

Advances in Joint Modelling: A Review of Recent Developments with Application to the Survival of End Stage Renal Disease Patients

The use of joint modelling approaches is becoming increasingly popular when an association exists between survival and longitudinal processes. Widely recognized for their gain in efficiency, joint models also offer a reduction in bias compared with naïve methods. With the increasing popularity comes a constantly expanding literature on joint modelling approaches. The aim of this paper is to give an overview of recent literature relating to joint models, in particular those that focus on the time‐to‐event survival process. A discussion is provided on the range of survival submodels that have been implemented in a joint modelling framework. A particular focus is given to the recent advancements in software used to build these models. Illustrated through the use of two different real‐life data examples that focus on the survival of end‐stage renal disease patients, the use of the JM and joineR packages within R are demonstrated. The possible future direction for this field of research is also discussed.     

Custom fabric ventures: An instructional resource in job costing for the introductory managerial accounting course

Job costing is a core foundational concept in the introductory managerial accounting course. The purpose of this instructional resource (IR) is to provide a thorough hands-on, active learning resource that will allow introductory students to experience a full set of accounting and management activities necessary to produce a job and assign production costs to it. For example, the IR requires students to analyze overhead costs, determine the optimal job size, schedule production, calculate the amount of materials to purchase, complete material requisitions, update raw materials records, analyze labor time records, complete a job cost record and address critical thinking questions. The IR was developed for use in a “flipped classroom” in which students work under the guidance of the instructor, but could alternatively be assigned as an unsupervised out-of-class assignment or on-line project. Since the IR was specifically developed as a learning tool for novice introductory managerial accounting students, adequate guidance is provided throughout the activity. However, to add realism and challenge students to think beyond the confines of simple mechanics, management and accounting issues are seeded throughout. Student feedback indicates that the IR not only helps students learn how a job costing system operates, but also helps students become aware of management decisions and accounting issues that impact the costs assigned to a job.     

The Impact of Corporate Social Performance on Financial Risk and Utility: A Longitudinal Analysis

This study focuses on the wealth‐protective effects of socially responsible firm behavior by examining the association between corporate social performance (CSP) and financial risk for an extensive panel data sample of S&P 500 companies between the years 1992 and 2009. In addition, the link between CSP and investor utility is investigated. The main findings are that corporate social responsibility is negatively but weakly related to systematic firm risk and that corporate social irresponsibility is positively and strongly related to financial risk. The fact that both conventional and downside risk measures lead to the same conclusions adds convergent validity to the analysis. However, the risk‐return trade‐off appears to be such that no clear utility gain or loss can be realized by investing in firms characterized by different levels of social and environmental performance. Overall volatility conditions of the financial markets are shown to play a moderating role in the nature and strength of the CSP‐risk relationship.     

Reassessing welfare reform data: a response to cherry

Abstract

This is a response to Robert Cherry's comment on the article, “Welfare as We [Don't] Know It: A Review and Feminist Critique of Welfare Reform Research” that appeared in the 10(2) issue of Feminist Economics. This response argues that while some combination of welfare reform, the booming economy in the late 1990s, and changes in economic policy all worked together to decrease caseloads and increase employment rates among welfare leavers, these are incomplete measures of the impact of welfare reform on the lives of lone mothers. This paper also argues that the effects of welfare reform on lone mothers are more mixed than Cherry acknowledges. This paper concludes that when one holistically examines low-income lone mothers' lives, it is premature to declare welfare reform a success.     

Book review

Tourism Marketing. By Salah Wahab, Jack Crampon, and L. Rothfield. London, England: Tourism International, 1976. 273 pp. U.S. $16.00

Tourism in the Bahamas and Bermuda: Two Case Studies. By Brian H. Archer. Bangor, Wales: University of Wales Press, 1977. Pp. ix, 87. £3.25

Park Planning Handbook: Fundamentals of Physical Planning for Parks and Recreation Areas. By Monty L. Christiansen. New York: John Wiley & Sons, Inc., 1977. Pp. xiv, 413. Hardcover: $18.95

Educating for Leisure‐Centered Living. By Charles K. Bright‐bill and Tony A. Mobley. (2nd Edition—Revised). New York: John Wiley and Sons, 1977. Pp. viii, 128. Paperback: $4.95

Private and Commercial Recreation: A Text and Reference. By Arlin F. Epperson. New York: John Wiley & Sons Publishing Company, Inc., 1977. Pp. 385. Hardcover: $15.95

The Economic Impact of Parks. A report prepared for the Federal/Provincial Parks Conference. By the Canadian Outdoor Recreation Research Committee. Toronto: Ontario Research Council on Leisure, 1975. Pp. 107. $4.50

A Model for Planning and Managing National Parks. By Laurence Prosser. Center of Leisure Studies, University of Oregon, 1977. Pp. 456. $25.00

Delivery of Community Leisure Services: An Holistic Approach. By James F. Murphy and Dennis R. Howard. Philadelphia: Lea & Febiger, 1977. Pp. vii, 219. Paperback: $9.75

Recreation Leadership. 3rd edition. By Maryhelen Vannier. Philadelphia: Lea & Febiger, 1977. Pp. 387. Hardcover: $12.50

Leisure: An Introduction. Edited by Hilmi Ibrahim and Fred Martin. Los Alamitos: Hwong Publishing Company, 1977. Pp. 360

Outdoor Recreation in America: Trends, Problems and Opportunities. 3rd edition. By Clayne R. Jensen. Minneapolis: Burgess Publishing Company, 1977. Pp. 269. Hardcover: $12.95

A Research Study into Provision for Recreation in the Highlands and Islands: Phase 1—Areas Affected by Oil‐Related Development. Research Reports 22, 23, and 31. Tourism and Recreation Research Unit, University of Edinburgh, Scotland, 1976 and 1977. Pp. 339, 411, and 145.

Research Study into Provision for Recreation in the Highlands and Islands: Phase 2—Regional Perspective: A Commentary by J. A. Long, J. T. Coppock, and B. S. Duffield. Research Report 37. Tourism and Recreation Research Unit, University of Edinburgh, Scotland, 1978. 110 pp.

The Environmental Impact of Outdoor Recreation. By Geoffrey Wall and Cynthia Wright. Waterloo, Ontario, Canada: Department of Geography Publication Series, Faculty of Environmental Studies. 1977, 69 pp. $5.00.

Avocational Counseling Manual—A Complete Guide to Leisure Guidance. By Robert Overs, Sharon Taylor, and Catherine Adkins. Washington, D.C.: Hawkins and Associates, Inc., 1977, 203 pp.

Leisure and Recreation: Introduction and Overview. By Clayne R. Jensen. Philadelphia: Lea & Febiger, 1977, 295 pp. Paperback $13.50.

The Joy of Sport. By Michael Novak. New York: Basic Books, 1976. Pp. 358. $10.95