Universal Child Care, Maternal Employment, and Children’s Long-Run Outcomes: Evidence from the US Lanham Act of 1940

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

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Effects of Child Care on Psychological Development: Issues and Future Directions for Research

PEDIATRICS ◽

10.1542/peds.94.6.1069 ◽

1994 ◽

Vol 94 (6) ◽

pp. 1069-1070

Author(s):

Sarah L. Friedman ◽

Jeanne Brooks-Gunn ◽

Deborah Vandell ◽

Marsha Weinraub

Keyword(s):

Child Care ◽

Maternal Employment ◽

Cultural Beliefs ◽

Work Force ◽

Psychological Research ◽

Psychological Development ◽

Older Children ◽

Social Trends ◽

Study Child

Research about the effects of child care on the psychological development of children has been stimulated by social reality. Industrialized societies, including the US, have witnessed two simultaneous social trends: an increase in the number of mothers in the work force and a decrease in the age at which children enter child-care arrangements.1-3 These trends, in conjunction with cultural beliefs, psychological theories, and research findings emphasizing the important role of mothers in early child development,4-6 have motivated researchers to investigate the effects of maternal employment and of child care on the development of infants and older children. Issues facing developmental psychologists who study child care and its effect on children's development are theoretical, methodological, and budgetary. The waves of psychological research about child care1 reflect changes in conceptual emphasis: Originally, it seemed sufficient to compare children reared in any child-care context with those reared by the mother as the primary care provider. As the results from these investigations were accumulating, investigators recognized a need to focus on variations in the quality of child-care arrangements and to relate these to children's psychological development. Because of issues of access to child-care arrangements, much of the research on quality of care that was generated pertained to center-based care. Most recently, investigators have turned their attention to the relationship between demographic characteristics of families and their choices of child-care arrangements for their children. Even though the research appeared in waves, they all continue to coexist and they all elaborate and enrich our knowledge. Investigators are now interested in weaving the earlier lines of research into a more comprehensive framework.

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Shareholder Value, Management Culture and Production Regimes in the Transformation of the German Chemical-Pharmaceutical Industry

Competition & Change ◽

10.1080/10245290215047 ◽

2002 ◽

Vol 6 (3) ◽

pp. 309-325 ◽

Cited By ~ 26

Author(s):

Sigurt Vitols

Keyword(s):

Recent Literature ◽

Shareholder Value ◽

Value Management ◽

Pharmaceutical Companies ◽

Drivers Of Change ◽

Management Culture ◽

Long Run ◽

The Us ◽

Production Regime ◽

National Systems

One of the greatest points of controversy in the recent literature in political economy is the extent to which “shareholder value” oriented institutional investors are drivers of change in national systems of corporate governance. This article argues that the key question is how management cultures shape managerial responses to pressures for change from capital markets. Empirical evidence for this argument is provided through an examination of changes since the mid-1990s at the “Big Three” German integrated chemical/pharmaceutical companies: Hoechst, Bayer and BASF. Despite facing similar demands from shareholder-value oriented investors, management at the three companies have pursued quite different strategies. The end result, however, may be the same from a production regime perspective, that is, the long-run withdrawal of “Big Pharma” from Germany as a location for R&D due to a more favorable institutional framework in the US.

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Some long-run effects of growing markets and renewable fuel standards on additives markets and the US ethanol industry

Journal of Policy Modeling ◽

10.1016/s0161-8938(03)00055-3 ◽

2003 ◽

Vol 25 (6-7) ◽

pp. 585-608 ◽

Cited By ~ 24

Author(s):

Paul W Gallagher ◽

Hosein Shapouri ◽

Jeffrey Price ◽

Guenter Schamel ◽

Heather Brubaker

Keyword(s):

Renewable Fuel ◽

Long Run ◽

Renewable Fuel Standards ◽

The Us

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United States Strategic Interests in Latin America: An Assessment

Journal of Interamerican Studies and World Affairs ◽

10.2307/166495 ◽

1997 ◽

Vol 39 (1) ◽

pp. 45-57 ◽

Cited By ~ 1

Author(s):

Albert R. Coll

Keyword(s):

United States ◽

Latin America ◽

The United States ◽

Second World War ◽

Economic Prosperity ◽

World War ◽

Long Run ◽

The Us ◽

Areas Of Concern ◽

Second World

As of 1997, the United States faces an unprecedented degree of security, stability, and economic prosperity in its relations with Latin America. Never before have US strategic interests in Latin America been as well-protected or have its prospects seemed, at least on the surface, so promising. Yet while the US strategic interests are in better shape — militarily, politically, and economically — this decade than at any time since the end of the Second World War, some problems remain. Over the long run, there is also the risk that old problems, which today seem to have ebbed away, will return. Thus, the positive tone of any contemporary assessment must be tempered with an awareness of remaining areas of concern as well as of possible future crises.

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Co-integration with score-driven models: an application to US real GDP growth, US inflation rate, and effective federal funds rate

Macroeconomic Dynamics ◽

10.1017/s1365100521000365 ◽

2021 ◽

pp. 1-21

Author(s):

Szabolcs Blazsek ◽

Alvaro Escribano ◽

Adrian Licht

Keyword(s):

Inflation Rate ◽

Predictive Accuracy ◽

Moving Average ◽

Impulse Response Functions ◽

Federal Funds ◽

Federal Funds Rate ◽

Vector Autoregressive ◽

Autoregressive Moving Average Model ◽

Long Run ◽

The Us

Abstract Nonlinear co-integration is studied for score-driven models, using a new multivariate dynamic conditional score/generalized autoregressive score model. The model is named t-QVARMA (quasi-vector autoregressive moving average model), which is a location model for the multivariate t-distribution. In t-QVARMA, I(0) and co-integrated I(1) components of the dependent variables are included. For t-QVARMA, the conditions of the maximum likelihood estimator and impulse response functions (IRFs) are presented. A limiting special case of t-QVARMA, named Gaussian-QVARMA, is a Gaussian-VARMA specification with I(0) and I(1) components. As an empirical application, the US real gross domestic product growth, US inflation rate, and effective federal funds rate are studied for the period of 1954 Q3 to 2020 Q2. Statistical performance and predictive accuracy of t-QVARMA are superior to those of Gaussian-VAR. Estimates of the short-run IRF, long-run IRF, and total IRF impacts for the US data are reported.

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Discriminating between Long Memory and Volatility Shifts

Austrian Journal of Statistics ◽

10.17713/ajs.v36i4.338 ◽

2016 ◽

Vol 36 (4) ◽

Cited By ~ 8

Author(s):

Aonan Zhang ◽

Robertas Gabrys ◽

Piotr Kokoszka

Keyword(s):

Long Memory ◽

Change Point ◽

Kernel Estimator ◽

Practical Implementation ◽

Point Model ◽

Variance Estimators ◽

Long Run ◽

The Us ◽

Change Point Model ◽

Stock Indexes

We develop a practical implementation of the test proposed in Berkes, Horv´ath, Kokoszka, and Shao (2006) designed to distinguish between a change-point model and a long memory model. Our implementation is calibrated to distinguish between a shift in volatility of returns and long memory in squared returns. It uses a kernel estimator of the long-run variance of squared returns with the maximal lag selected by a data driven procedure which depends on the sample size, the location of the estimated change point and the direction of the apparent volatility shift (increase versus decrease). In a simulations study, we also consider other long-run variance estimators, including the VARHAC estimator, but we find that they lead to tests with inferior performance. Applied to returns on indexes and individual stocks, our test indicates that even for the same asset, a change-point model may be preferable for a certain period of time, whereas there is evidence of long memory in another period of time. Generally there is stronger evidence for long memory in the eight years ending June 2006 than in the eight years starting January 1992. This pattern is most pronounced for US stock indexes and shares in the US financial sector.

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