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54521. Institutions for Fiscal Stability (Financial Integration in Europe and Asia)

Author:
Barry Eichengreen and Yung Chul Park
Publication Date:
01-2003
Content Type:
Working Paper
Institution:
Institute of European Studies (IES), UC Berkeley
Abstract:
One of the most striking aspects of Europe's recent development has been the growth and integration of financial markets. Bond markets have grown explosively since the advent of the euro. Cross border transactions in government bonds have risen sharply with the emergence of the German bund as a benchmark asset, while the volume of corporate bond issues has grown even more dramatically. Securities markets are consolidating around London and Frankfurt, which are competing for the mantle of Europe's dominant financial center. This rapid market integration has raised questions about the viability of Europe's traditional model of bank-based financial intermediation, causing commercial and investment banks to respond with a wave of mergers and acquisitions.
Topic:
Economics and Political Economy
Political Geography:
Europe, Asia, London, and Germany

54522. Children of Immigrants Show Slight Reductions in Poverty, Hardship

Author:
Michael E. Fix, Randy Capps, and Jane Reardon-Anderson
Publication Date:
11-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
The share of U.S. children under age 18 with an immigrant parent or parents increased between 1999 and 2002. Poverty among these children fell slightly during the same period, and the shares with health insurance and access to a usual source of health care rose. However, most other measures of economic well-being did not change significantly between 1999 and 2002, and children of immigrants continued to face greater hardship than children of native parents.
Topic:
Economics, Human Welfare, and Migration
Political Geography:
United States

54523. A Profile of The Foreign-Born in Lowell, Massachusetts

Author:
Katherine Lotspeich, Michael Fix, Dan Perez-Lopez, and Jason Ost
Publication Date:
10-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
The Building the New American Community demonstration project is an experiment in refugee and immigrant integration in which the cities of Lowell, Massachusetts; Nashville, Tennessee; and Portland, Oregon formed coalitions to identify integration challenges in their com m unities and address them collaboratively. These cities were assisted by a national team of policy analysts, advocates, and researchers from the Nation al Conference of State Legislatures, the National Immigration Forum, the Southeast Asia Resource Action Center, The Urban Institute, and the Migration Policy Institute.
Topic:
Demographics, Human Welfare, and Migration
Political Geography:
United States

54524. Immigrants and TANF: A Look at Immigrant Welfare Recipients in Three Cities

Author:
Karen C. Tumlin and Wendy Zimmermann
Publication Date:
10-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
The federal welfare reform act of 1996 (the Personal Responsibility and Work Opportunity Reconciliation Act, or PRWORA) dramatically revamped the welfare system, turning it into a block grant program run by the states, imposing new, stricter work requirements and setting a five-year lifetime limit on benefit receipt. For immigrants the law did all that and much more. In a major departure from previous policy, the law sharply curtailed noncitizens' eligibility for welfare and other major federal benefits.
Topic:
Government, Human Welfare, and Migration
Political Geography:
United States

54525. A Profile of the Foreign-Born in the Portland, Oregon Tri-County Area

Author:
Katherine Lotspeich, Michael Fix, Dan Perez-Lopez, and Jason Ost
Publication Date:
10-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
The Building the New American Community demonstration project is an experiment in refugee and immigrant integration in which the cities of Lowell, Massachusetts; Nashville, Tennessee; and Portland, Oregon, formed coalitions to identify integration challenges in their communities and address them collaboratively. These cities were assisted by a national team of policy analysts, advocates, and researchers from the National Conference of State Legislatures, the National Immigration Forum, the Southeast Asia Resource Action Center, The Urban Institute, and the Migration Policy Institute.
Topic:
Demographics, Economics, and Migration
Political Geography:
United States

54526. Budget Crisis at the Door

Author:
C. Eugene Steuerle and Rudolph G. Penner
Publication Date:
10-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
In 1995 the Bipartisan Commission on Entitlement and Tax Reform concluded that “If we do not plan for the future, entitlement spending promises will exceed financial resources in the next century. The current spending trend is unsustainable … If we fail to act, we have made a choice that threatens the economic future of our children and our nation” (U.S. Congress 1995). Now, well into the next century, we have still failed to act. Yet the problem not only remains, but in many ways has intensified simply because we are years closer to the day of reckoning. Relative to both available revenues and societal needs, we have promised more than we can afford to an elderly and fairly well-off near-elderly population that will soon grow very rapidly as the baby boomers retire and life expectancy continues to increase.
Topic:
Demographics, Economics, and Government
Political Geography:
United States

54527. Options to Finance the Additional War Costs

Author:
Leonard E. Burman and Jeff Rohaly
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
The President has requested an additional $87 billion to finance the war and reconstruction costs in Iraq. Commentators and some members of Congress have expressed an interest in options to offset these additional costs so as not to add on to the burgeoning budget deficit, which CBO estimates to be $480 billion in fiscal year 2004. This note considers four options to raise approximately enough revenue to finance the additional war costs. The estimates are approximate because they do not account for additional tax avoidance that higher rates might provoke, a significant factor in official revenue estimates.
Topic:
Government, Political Economy, and War
Political Geography:
United States and Iraq

54528. Contracting with NGOs for Social Services: Building Civil Society and Efficient Local Government in Russia

Author:
Raymond Struyk
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
A decade after the beginning of the transition to democracy in Eastern Europe and the Soviet Union it is clear that the nonprofit sector has developed remarkably in many countries in the region. Progress is especially striking in Eastern Europe (EE); on the other hand, development has been notably limited in most countries of the Commonwealth of Independent States (CIS) where liberal democracy has had little chance to take root (Anheier and Seibel 1998; Hyatt, Cooper, and Knight 1998; Kuti 1999; Nowicki 2000; Quigley 2000). Kendell,Anheier, and Potucek (2000).
Topic:
Development, Human Welfare, and Non-Governmental Organization
Political Geography:
Russia, Europe, Eastern Europe, and Soviet Union

54529. Trends in Naturalization

Author:
Michael E. Fix, Jeffrey S. Passel, and Kenneth Sucher
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
The Policy Imperative Naturalization is the gateway to citizenship for immigrants and to full membership and political participation in U.S. society. The importance of naturalization—and citizenship—has risen since the mid-1990s, when welfare and illegal immigration reform based access to public benefits and selected rights increasingly on citizenship.
Topic:
Demographics, Government, and Migration
Political Geography:
United States

54530. Unemployment Protection in Chile

Author:
Wayne Vroman
Publication Date:
08-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
Interruptions of earnings caused by unemployment and reductions in the real value of earnings caused by inflation are two important risks that face persons active in the labor market. The following paragraphs discuss these phenomena and the possible mechanisms for addressing the risks that they pose.
Topic:
Economics, Government, and Human Welfare
Political Geography:
South America, Latin America, and Chile

54531. The New Neighbors: A User's Guide to Data on Immigrants in U.S. Communities

Author:
Randy Capps, Michael E. Fix, Dan Perez-Lopez, and Jeffrey S. Passel
Publication Date:
08-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
Immigrant integration is now a key issue for communities across the nation. States and communities that had seen few immigrants as recently as 1990 are now welcoming new arrivals in unprecedented numbers. Although new immigrants continue to settle in the traditional U.S. centers of immigration—including California, Florida, New York, and Texas—the states with the currently fastest growing immigrant populations have not seen similar inflows for almost a century, if ever. According to the 2000 Census, these new destination states include North Carolina, Georgia, and Tennessee (at the top of the list) and other states in the Southeast, as well as states across the Midwest and up into the Pacific Northwest.
Topic:
Demographics, Government, and Migration
Political Geography:
United States, New York, California, Georgia, Texas, and Florida

54532. A Comparison of Military and Civilian Approaches

Author:
Maria D. Montilla and Carol J. De Vita
Publication Date:
07-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
New information on early childhood learning and increasing demand for child care services have placed a spotlight on the need to improve the quality of early education and care in America. Research on brain development and learning has shown the importance of early education for young children (Shonkoff and Phillips 2000). Surveys of child care settings have documented the mediocre to poor quality of many of our child care programs (Helburn and Bergmann 2002). Mothers who work outside the home report that child care is a critical factor in their lives, and welfare reforms are intrinsically linked to the availability of child care services. While almost everyone agrees that something needs to be done, there is less agreement on how to do it.
Topic:
Defense Policy, Civil Society, and Education
Political Geography:
United States

54533. The Gender Impact of Pension Reform in Latin America—and Broader Policy Implications

Author:
Estelle James, Alejandra Cox Edwards, and Rebeca Wong
Publication Date:
06-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
Over the past two decades multipillar pension systems that include both a public defined benefit (DB) and private defined contribution (DC) pillar have been adopted in many countries. Critics of these pension reforms argue that the tight link between payroll contributions and benefits in the DC pillar will produce lower pensions for women. In contrast, supporters of these reforms argue that multipillar systems remove distortions that favored men and permit a more targeted public pillar that will help women. To test these conflicting claims about multipillar reforms, and to analyze more generally the gender impact of alternative pension systems, this paper examines the differential impact on the two genders of the new and old systems in three Latin American countries—Chile, Argentina, and Mexico. On the basis of household survey data, we simulate the employment histories of representative men and women and the pensions that these are likely to generate under the new and old rules.
Topic:
Economics, Gender Issues, and Human Welfare
Political Geography:
Argentina, South America, Latin America, Central America, North America, Mexico, and Chile

54534. Participation in a Decentralized Housing Allowance Program in a Transition Economy

Author:
Tatiana Lykova, Sergei Sivaev, Raymond J. Struyk, and Ekaterina Petrova
Publication Date:
05-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
When Russia's housing allowance program, the country's first means-tested program, was introduced in 1994, it was truly innovative. But there were difficulties from the start, many arising from the division of authority for setting program parameters among different levels of government and the potential for variation in the treatment of similar households in different cities. In 1996, the program's original simple basis for benefit determination was seriously impaired by the introduction of different principles for very low-income households. Moreover, local governments have exhibited a willingness to vary benefits from year-to-year, depending on political and budgetary considerations. The analysis presented here documents the impact of these variations on participation rates in a sample of Russian cities. Large inequities are obviously present in the treatment of similar households from city to city. Indeed, it is questionable whether the program as currently configured is fulfilling the social safety net function envisioned for it in the original legislation.
Topic:
Development, Government, and Human Welfare
Political Geography:
Russia, Europe, and Asia

54535. Budget Blues: The Fiscal Outlook and Options for Reform

Author:
William G. Gale, Alan J. Auerbach, Peter Orszag, and Samuel R. Potter
Publication Date:
05-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
Establishing a sustainable fiscal policy is central to the nation's long-term economic prospects, but requires a clear understanding of how past and current policies affect future resources. The federal budget should, but does not, provide this information, both because the task is difficult and current accounting practices are deficient. This paper shows that adjusting the official budget for many accounting and economic issues implies a bleak fiscal outlook that presents policymakers with difficult choices. We also explore options to restore fiscal sustainability directly and to improve the budget process that governs fiscal decisions.
Topic:
Demographics, Economics, and Government
Political Geography:
United States

54536. Russia's Winter Woes: Tariff Setting for Local Utilities in a Transition Economy

Author:
Sergei Sivaev, Raymond J. Struyk, Valentin Andrianov, and Emin Askerov
Publication Date:
04-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
During the past two winters, breakdowns in district heating services in Russia have grabbed international headlines. In Russia these services and water and sewerage services are the responsibility of municipal governments; these governments set the tariffs for these services. This article examines the tariff-setting process during 1997–2001 for these two services with particular emphasis on the decision process for considering tariff increases. We find that little progress has been made during the transition period in developing the legal base for rational tariff-setting procedures. Overall, tariff increases have been substantially less than the rate of inflation. Statistical analysis confirms that decisionmaking is highly politicized and that in times of extreme inflation tariff increases lag even further behind inflation, with the sector being used as a kind of shock absorber to cushion the full impacts of inflation on the population. There is an obvious acute need for leadership at the national level to address these problems.
Topic:
Development, Energy Policy, and Government
Political Geography:
Russia, Europe, and Asia

54537. The Enron Debacle: Lessons for Tax Policy

Author:
Jane G. Gravelle
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
The Enron debacle had potential implications in three areas of tax policy: tax-favored retirement plans, stock options, and differences in book versus tax accounting. The most important issue relates to the increasing riskiness of retirement plans that (1) can pay in a lump sum amount, (2) are of the defined contribution variety, and (3) may be excessively concentrated in employer stock. Proposals to remedy this issue even in a limited way may be unsuccessful if they do not address the especially favorable tax treatment of employee stock ownership plans (ESOPs). Most stock options do not benefit from preferential treatment, although for both book and tax purposes it may be desirable (and feasible) to recognize compensation payments at the time of grant. Stock options may not be accomplishing their purposes efficiently, and special benefits (such as those for qualified stock options) might either be reconsidered or restricted to plans with desirable features. The spectacle of a purportedly profitable company paying little or no tax has become a common phenomenon. The Enron case suggests the need for more disclosure regarding the sources of book versus tax differences, if not some substantive corporate tax reforms.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States

54538. How Are Immigrants Faring After Welfare Reform?: Preliminary Evidence from Los Angeles and New York City - Final Report

Author:
Randy Capps, Michael Fix, Dan Perez-Lopez, Jeffrey Passel, Leighton Ku, Chris Furgiuele, Rajeev Ramchand, and Scott McNiven
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
In 1996, debates about welfare reform and immigration converged and reshaped federal policies about the eligibility of legally admitted immigrants for means-tested public benefits programs, including the Food Stamp Program (FSP), Medicaid, Supplemental Security Income (SSI), and Temporary Assistance for Needy Families (TANF). Before the Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) was enacted in 1996, legal immigrants were eligible for benefits on terms similar to those of native-born citizens. The new law significantly limited the eligibility of legally-admitted immigrants for means-tested federal benefit programs, particularly immigrants entering the United States after the welfare reform law was passed in August 1996.
Topic:
Government, Human Welfare, and Migration
Political Geography:
United States

54539. The Dog that Would Never Bite? The Past and Future of the Stability and Growth Pact

Author:
Martin Heipertz and Amy Verdun
Publication Date:
11-2003
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
This paper analyses the underlying reasons for the creation of the Stability and Growth Pact (SGP) and its subsequent development in recent years. The paper examines the economic and political factors behind it, including the role of economic ideas, experts, politicians, institutional arrangements in the Maastricht Treaty, domestic politics, and the exceptional position of Germany in the realm of monetary integration in the EU. It concludes that a set of commonly held beliefs together with a corresponding power-political constellation explain the creation of the SGP.
Topic:
International Political Economy, International Trade and Finance, and Treaties and Agreements
Political Geography:
Europe and Germany

54540. The Politics of the German Company Network

Author:
Martin Höpner and Lothar Krempel
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
For over 100 years, the German company network was a major feature of organized corporate governance in Germany. This paper uses network visualization techniques and qualitative-historical analysis to discuss the structure, origins and development of this network and to analyze the reasons for its recent erosion. Network visualization makes it possible to identify crucial entanglement patterns that can be traced back historically. In three phases of network formation – the 1880s, 1920s and the 1950s –, capital entanglement resulted from the interplay of company behavior and government policy. In its heyday, the company network was de facto encompassing and provided its core participants, especially the banks, with a national, macroeconomic perspective. In the 1970s, a process of increased competition among financial companies set in. In the 1980s and 1990s, declining returns from blockholding and increased opportunity costs made network dissolution a thinkable option for companies. Because of the strategic reorientation of the largest banks toward investment banking, ties between banks and industry underwent functional changes. Since the year 2000, the German government's tax policy has sped up network erosion. Vanishing capital ties imply a declining degree of strategic coordination among large German companies.
Topic:
Economics, Government, and Governance
Political Geography:
Europe and Germany