Green Documentary: Environmental Documentary in the 21st Century by Helen Hughes

David M. Lawrence reviews Green Documentary: Environmental Documentary in the 21st Century by Helen Hughes

Health Care: Public Good or Private Enterprise? 7th Annual Herbert Lourie Memorial Lecture on Health Policy

I start with the premise that the success of our efforts in health care is best measured by our ability to impact the health status of our citizens in the most affordable way possible. This brief provides an overview of the history of organized health care systems, then discusses several of the conundrums that are posted by knowledge of that history.

Media Coverage of Law Enforcement Use of Force and Disability

Disability intersects with other factors such as race, class, gender, and sexuality, to magnify degrees of marginalization and increase the risk of violence. When the media ignores or mishandles a major factor, as we contend they generally do with disability, it becomes harder to effect change.This white paper focuses on the three years of media coverage of police violence and disability since the death of a young man with Down syndrome, named Ethan Saylor, in January 2013. After reviewing media coverage of eight selected cases of police violence against individuals with disabilities, the paper reveals the following patterns in the overall data:? Disability goes unmentioned or is listed as an attribute without context.? An impairment is used to evoke pity or sympathy for the victim.? A medical condition or "mental illness" is used to blame victims for their deaths.? In rare instances, we have identified thoughtful examinations of disability from within its social context that reveal the intersecting forces that lead to dangerous use-of-force incidents. Such stories point the way to better models for policing in the future. We conclude by proposing best practices for reporting on disability and police violence

Macroeconomic Performance and the Disadvantaged

macroeconomics

The Costs of Conflict Resolution and Financial Distress: Evidence from the Texaco-Pennzoil Litigation

This paper uses data on the abnormal returns earned by the shareholders of Texaco and Pennzoil to examine whether resources were "lost" in the course of the litigation. We find that the leakage involved in the forced transfer is enormous: each dollar of value lost by Texaco's shareholders has been matched by only about 30 cents gain to the owners of Pennzoil. Our estimates suggest that the Texaco-Pennzoil conflict has reduced the combined equity value of the two companies by about $2 billion. Further losses have been suffered by Texaco's bondholders, though these may be offset by the tax collections that would result if Texaco made a large payment to Pennzoil.

Speculative Dynamics and the Role of Feedback Traders

This paper summarizes our earlier research documenting the characteristic speculative dynamics of many asset markets and suggests a framework for understanding them. Our model incorporates "feedback traders," traders whose demand is based on the history of past returns rather than the expectation of future fundamentals. We use this framework to describe ways in which the characteristic return patterns might be generated, and also to address the long-standing question of whether profitable speculation stabilizes asset markets.

Speculative Dynamics

This paper presents evidence on the characteristic speculative dynamics of a wide range of asset returns. It highlights three stylized facts. First, returns tend to be positively serially correlated at high frequency. Second, returns tend to be negatively serially correlated over long horizons. Third, deviations of asset values from proxies for fundamental value have predictive power for returns. These patterns emerge repeatedly in our analyses of stocks, bonds, foreign exchange, real estate, collectibles, and precious metals, and they appear too strong to be attributed only to small sample biases. The pervasive nature of these patterns suggests that they may be lie to inherent features of the speculative process, rather than to variation in risk factors which affect particular markets.