Exploring Civic Engagement Through Seniors' Good Citizenship Behavior Within Clubs

The argument for civic engagement is that it enables individuals to feel empowered and shapes their political and social attitudes which are attributes that promote individuals to be better citizens. This study focuses on senior citizens, and we use the place-attachment theory to better understand the good citizenship behavior of seniors within clubs, and we further explore how this behavior affects their civic engagement. The findings provide insights into seniors' civic engagement within the confines of clubs. As a result of these findings, we go on to suggest a framework for understanding the behavior of civic engagement. Our model of seniors' civic engagement in clubs provides greater insights for academics and policy makers on the sources and physical places that can foster communities to come together for shared interaction and cohesion.     

Persistent gaps and default traps

We show how vicious circles in countries' credit histories arise in a model where output persistence is coupled with asymmetric information about output shocks. In such an environment, default signals the borrower's vulnerability to adverse shocks and creates a pessimistic growth outlook. This translates into higher interest spreads and debt servicing costs relative to income, raising the cost of future repayments, thereby creating “default traps”. We build a long and broad cross-country dataset to show the existence of a history-dependent “default premium” and of significant effects of output persistence on sovereign creditworthiness, consistent with the model's predictions.     

Liquidity Preference and Financial Intermediation

We examine the characteristics of optimal monetary policies in a general equilibrium model with incomplete markets. Markets are incomplete because of uninsured preference uncertainty, and because productive capital is traded infrequently. Rational individuals are willing to hold a liquid asset—"money"—at a premium. Monetary policy interacts with existing financial institutions to determine this premium, as well as the level of precautionary holdings. We show that inflation is expansionary, and that the optimal inflation rate is positive if there is no operative banking system (the Tobin effect). Otherwise, efficiency requires that money be undominated in its rate of return (the Friedman Rule).     

Private Foreign Investment in India: Pain or Panacea?

Private foreign capital, whose presence in Indian industry was long regarded with concern and suspicion, is now presented as a panacea for India's poor industrial and export performance. This paper examines available evidence to compare the behaviour and performance of domestic and foreign‐controlled firms in India over the last five decades. It discusses the contribution of foreign capital to aggregate investment, balance of payments and economic growth. We assess the effects of government policy towards foreign investment, review recent changes, and outline implications for the future.     

The Impact of the Health Insurance Market on Small Firm Employment

Small firms that offer health insurance to their employees may face variable premiums if they hire employees with high expected health costs. To avoid expensive premium variability, small firms may attempt to maintain a workforce with low expected health costs. This results in employment distortions. I examine the magnitude of these employment distortions using the 1987 National Medical Expenditure Survey and the 1996 Medical Expenditure Panel Survey. Based on the underwriting behavior of insurance companies in 1988, I classify medical conditions into three categories: conditions that led to denial of coverage; conditions that led to exclusion restrictions; and, conditions that led to higher premiums. In 1987, I find that insured small firms were less likely to employ workers with families that had conditions that led to higher premiums than insured large firms. However, in 1996, possibly due to the passage of small group health insurance reforms that restrict insurers' ability to exclude or deny coverage, insured small firms were less likely to employ workers with denial conditions compared to insured large firms. These results suggest that the pattern of employment distortions in insured small firms is consistent with the evolving small group health insurance market.     

Problems of indexation in financially liberalized less developed economies

This paper constructs a short-run, dynamic model of a newly-liberalized less developed economy, and uses it to examine the policy options with respect to the indexation of key macro-economic variables. It concludes that ‘full indexation’ of the exchange rate, wage rate, and deposit rate of interest is likely to prove dynamically beneficial to the economy, provided that at the same time the monetary base is manipulated so as to maintain steady-state price stability.     

Job Lock: Evidence from a Regression Discontinuity Design

Employer‐provided health insurance may restrict job mobility, resulting in “job lock.” Previous research on job lock finds mixed results using several methodologies. We take a new approach to examine job lock by exploiting the discontinuity created at age 65 through the qualification for Medicare. Using a novel procedure for identifying age in months from matched monthly Current Population Survey data and a relatively unexplored administration measure of job mobility, we compare job mobility among male workers in the months just prior to turning age 65 to job mobility in the months just after turning age 65. We find no evidence that job mobility increases at the age 65 threshold when Medicare eligibility starts. We also do not find evidence that other factors such as retirement, reduction in hours worked, Social Security eligibility, pension eligibility, and sample changes confound the results on job mobility in the month individuals turn 65.     

Understanding Promotional Service Interactions through Social Exchange Theory of Affect

Dyadic commercial relations during service interactions are not possible without exchange of emotions between the interactional partners. The study theorizes social exchange theory of affect and explores triggers of emotions from customers and service agents that enable rapport during promotion of products. The study conceptualizes that service agents deliver overall authentic service delivery, which is a composite of authentic emotions and affective service delivery. These delivered emotions are reciprocated by the customers who are high on agreeableness. The study also validates the link between rapport, customer satisfaction, and future buying intentions of the customers. Data were collected through between subjects experimental design on 120 participants. The results were analyzed and structural model was developed using partial least-square structural equation modeling (PLS-SEM) technique. Results indicate that customer employee rapport is best predicted when overall authentic service delivery and customer agreeableness mutually interacts. The study is limited to outbound promotional services and its validity for other kinds of services and inbound calls awaits exploration.