An Investigation of the Impact of an Aspiring Principals Preparation Program on Principal Leadership Effectiveness

School districts need to “build the bench” to ensure that their schools will have effective principals when vacancies arise (Johnson-Taylor & Martin, 2007). Assistant principals represent a potential pool of new school leaders who are prepared to move confidently into the principalship (Oliver, 2005). Although a critical leader in schools, the assistant principal position is underutilized and under-researched (Oleszewski, Shoho, & Barnett, 2012). This lack of focus on assistant principals is concerning because they are part of the school leadership team and often advance to the position of school principal. The purpose of this study was to examine the impact of Bay City Public Schools’ (a pseudonym) Aspiring Principals Preparation Program (AP3; also a pseudonym) on assistant principals’ learning-centered leadership behaviors, as assessed by the Vanderbilt Assessment of Leadership in Education (Val-Ed) survey. The study compared the Val-Ed scores of assistant principals who had participated in one of three cohorts of AP3 training to the scores of assistant principals who did not participate. The results indicated that participation in the AP3 had no significant impact on respondents’ learning-centered leadership behaviors, as assessed on the VAL-ED instrument. This study may be useful as the district seeks to validate the effectiveness of AP3 and identify potential refinements and program modifications.

Essays on Information Frictions, Prices and Unemployment

I investigate the effects of information frictions in price setting decisions. I show that firms' output prices and wages are less sensitive to aggregate economic conditions when firms and workers cannot perfectly understand (or know) the aggregate state of the economy. Prices and wages respond with a lag to aggregate innovations because agents learn slowly about those changes, and this delayed adjustment in prices makes output and unemployment more sensitive to aggregate shocks. In the first chapter of this dissertation, I show that workers' noisy information about the state of the economy help us to explain why real wages are sluggish. In the context of a search and matching model, wages do not immediately respond to a positive aggregate shock because workers do not (yet) have enough information to demand higher wages. This increases firms' incentives to post more vacancies, and it makes unemployment volatile and sensitive to aggregate shocks. This mechanism is robust to two major criticisms of existing theories of sluggish wages and volatile unemployment: the flexibility of wages for new hires and the cyclicality of the opportunity cost of employment. Calibrated to U.S. data, the model explains 60% of the overall unemployment volatility. Consistent with empirical evidence, the response of unemployment to TFP shocks predicted by my model is large, hump-shaped, and peaks one year after the TFP shock, while the response of the aggregate wage is weak and delayed, peaking after two years. In the second chapter of this dissertation, I study the role of information frictions and inventories in firms' price setting decisions in the context of a monetary model. In this model, intermediate goods firms accumulate output inventories, observe aggregate variables with one period lag, and observe their nominal input prices and demand at all times. Firms face idiosyncratic shocks and cannot perfectly infer the state of nature. After a contractionary nominal shock, nominal input prices go down, and firms accumulate inventories because they perceive some positive probability that the nominal price decline is due to a good productivity shock. This prevents firms' prices from decreasing and makes current profits, households' income, and aggregate demand go down. According to my model simulations, a 1% decrease in the money growth rate causes output to decline 0.17% in the first quarter and 0.38% in the second followed by a slow recovery to the steady state. Contractionary nominal shocks also have significant effects on total investment, which remains 1% below the steady state for the first 6 quarters.