James S. Chisholm, Jennifer Alford, Leah M. Halliday and Fannie M. Cox
This paper aims to examine ways in which English language arts (ELA) teachers have exercised agency in response to policy changes that have been shaped by neoliberal education…
Abstract
Purpose
This paper aims to examine ways in which English language arts (ELA) teachers have exercised agency in response to policy changes that have been shaped by neoliberal education agendas that seek to further advance standardization and the primacy of measurability of teaching and learning.
Design/methodology/approach
The authors posed the following research questions of related literature: Under what conditions, in what ways and to what ends do teachers exercise agency within ELA classroom teaching? Through five stages of systematized analysis, this scoping review of 21 studies maps the evidence base.
Findings
Structural, material, interpersonal and pedagogical issues both constrained and supported agency. Teachers covertly exercised agency to be responsive to students’ needs; in some instances, teachers’ agentive practices reinforced institutionally sanctioned methods. Teachers’ agentive action aimed to combat the deprofessionalization of the field, foster innovative curriculum approaches and challenge stereotypes about students. The authors also found a range of definitions of agency in the research, some of which are more generative than others.
Originality/value
This paper addresses a gap in the research literature by illuminating contexts, consequences and conundrums of ELA teacher agency. The authors documented the range of structural, cultural and material conditions within which teachers exercise agency; the subversive, collective and small- and large-scale ways in which teachers realize agency; and the potentially favorable or unfavorable consequences to which these efforts are directed. In doing so, the authors also problematize the range of definitions of agency in the literature and call for greater attention to conceptual clarity around agency in research. As literacy researchers illuminate work that disrupts the marginalization of teachers’ agency, this scoping review maps the field’s knowledge base of agency in ELA teaching and sets up a future research agenda to promote the professionalization of teaching and advocacy for English teachers.
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Tracking electronic journals to collect usage statistics is not an easy task. E‐journal publishers and aggregators are using various standards to create e‐journal usage reports…
Abstract
Tracking electronic journals to collect usage statistics is not an easy task. E‐journal publishers and aggregators are using various standards to create e‐journal usage reports. This situation has created many problems for libraries that use those reports. For e‐journal collection development, it is essential for libraries to know exactly who is using their e‐journals, how often their e‐journals are being used, and how their e‐journals are being accessed. Although several methods have been used in the library community, this article focuses on a method cooperatively developed by the cataloging department and the office of libraries technology at the University of Louisville to take control of collecting and generating e‐journal usage statistics. This method involves the use of a CGI script, AXS shareware. The success of this method in fact is built on cooperative efforts between the two departments.
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Fannie M. Cox and Mary Barbosa‐Jerez
A report on the 7th International Symposium on Electronic Theses and Dissertations (ETD) and some of the sessions presented at the 2004 conference, which had the theme of…
Abstract
A report on the 7th International Symposium on Electronic Theses and Dissertations (ETD) and some of the sessions presented at the 2004 conference, which had the theme of “Distributing Knowledge Worldwide Through Better Scholarly Communication.”
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Patrick Trutwein, Dirk Schiereck and Matthias Thomas
This paper investigates the link between equity and credit markets for the government‐sponsored mortgage institutions, Fannie Mae and Freddie Mac, during the period from January…
Abstract
Purpose
This paper investigates the link between equity and credit markets for the government‐sponsored mortgage institutions, Fannie Mae and Freddie Mac, during the period from January 2007 until December 2008. Before the financial crisis, investors perceived these real estate finance institutions as quasi state guaranteed.
Design/methodology/approach
By examining Fannie Mae and Freddie Mac during 2007 and 2008, this study extends existing research on the link between equity and credit markets. The authors employ univariate time series regression and vector autoregressive models to analyze the comovements over time and the lead‐lag relationship for equity returns, CDS spread changes, and bond spread changes.
Findings
The results provide evidence for equity returns and credit spreads of CDS and bonds being inversely related and adjusting simultaneously. The relationship between equity and credit markets intensifies during periods of heightened risks. The link between equity returns and bond spread changes is more robust in an environment of slightly elevated risk, while the relationship between equity and CDS markets intensifies during times of extreme stress. It was also found that the link between equity and credit markets completely breaks down as government intervention in the form of regulatory changes and ultimately, conservatorship, materializes.
Practical implications
Investors active in equity and credit markets need to be aware of the relevance of the prevailing capital market regime and the role of external effects such as government support and bailout.
Originality/value
There is a growing body of empirical research employing event studies and regression analyses on the firm level to examine the link between equity and credit default swaps. Yet, to the authors' knowledge this relationship has not been explored specifically for quasi guaranteed institutions. However, given the growing number of at least partly state owned real estate finance institutions, this specific focus is important to understand future expected risk compensation of equity and credit investors. The paper ask what lessons are to be learnt from the current financial crisis about investor protection in quasi guaranteed financial institutions.
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The purpose of this postmortem is to assess whether the design, implementation, and maintenance of financial policies during the period from 1996 through 2006 were primary causes…
Abstract
Purpose
The purpose of this postmortem is to assess whether the design, implementation, and maintenance of financial policies during the period from 1996 through 2006 were primary causes of the financial system's demise.
Design/methodology/approach
To draw conclusions about the policy determinants of the crisis, the paper studies five important policies: Securities and Exchange Commission (SEC) policies toward credit rating agencies, Federal Reserve policies concerning bank capital and credit default swaps, SEC and Federal Reserve policies about over‐the‐counter derivatives, SEC policies toward the consolidated supervision of major investment banks, and government policies toward two housing‐finance entities, Fannie Mae and Freddie Mac.
Findings
The evidence is inconsistent with the view that the collapse of the financial system was caused only by the popping of the housing bubble (“accident”) and the herding behavior of financiers rushing to create and market increasingly complex and questionable financial products (“suicide”). Rather, the evidence indicates that senior policymakers repeatedly designed, implemented, and maintained policies that destabilized the global financial system in the decade before the crisis. Moreover, although the major regulatory agencies were aware of the growing fragility of the financial system due to their policies, they chose not to modify those policies, suggesting that “negligent homicide” contributed to the financial system's collapse.
Originality/value
Although influential policymakers presume that international capital flows, euphoric traders, and insufficient regulatory power caused the crisis, this paper shows that these factors played only a partial role. Thus, current reforms represent only a partial and thus incomplete step in establishing a stable and well‐functioning financial system. Since systemic institutional failures helped cause the crisis, systemic institutional reforms must be a part of a comprehensively effective response.
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Social scientists have long been interested in how political institutions affect economic performance. Nowhere are these effects more apparent today than in the current U.S…
Abstract
Social scientists have long been interested in how political institutions affect economic performance. Nowhere are these effects more apparent today than in the current U.S. financial meltdown. This article offers an analysis of the meltdown by showing how government regulation among other things helped cause it. Specifically, the article shows how regulatory reforms closely associated with neoliberalism created perverse incentives that contributed significantly to the increased lending in the mortgage market and increased speculation in other financial markets even as such behavior was becoming increasingly risky. The result was the failure of mortgage firms, banks, a major insurance company, and eventually the market for short-term business loans, which triggered a general liquidity crisis thereby thrusting the entire economy into a severe recession. Implications for future research are explored. The article also offers a few policy prescriptions and an assessment of their political viability going forward.
Jochen Schweikert and Markus Höchstötter
This paper aims to introduce mathematical models to capture the spreading of epidemics to explain the expansion of mortgage default events in the USA.
Abstract
Purpose
This paper aims to introduce mathematical models to capture the spreading of epidemics to explain the expansion of mortgage default events in the USA.
Design/methodology/approach
The authors use the state of infectiousness and death to represent the subsequent steps of payment elinquency and default, respectively. As the local economic structure influences regional unemployment, which is a strong driver of mortgage default, the authors model interdependencies of regional mortgage default rates through employment conditions and vicinity.
Findings
Based on a large sample between 2000 and 2014 of loan-level data, the estimation of key parameters of the model is proposed. The model’s forecast accuracy shows an above-average performance compared to well-known approaches such as linear regression or logit models.
Originality/value
The key findings may be useful in understanding the dynamics of mortgage defaults and its spatial spreading.
On September 15, 2008, Lehman Brothers filed for bankruptcy and nearly caused a meltdown of the financial system. This article looks at the situation before Lehman went bankrupt…
Abstract
On September 15, 2008, Lehman Brothers filed for bankruptcy and nearly caused a meltdown of the financial system. This article looks at the situation before Lehman went bankrupt and how this event came to trigger a financial panic during the fall of 2008 and early 2009. Two key ideas inform the analysis. The first is that what triggers financial panics are typically hidden losses. The second is that confidence plays a key role in financial panics and that confidence can be conceptualized as a belief that action can be based on proxy signs, rather than on direct information about the situation itself.