Benefits of education at the intensive margin: childhood academic performance and adult outcomes among American immigrants

Using the Children of the Immigrants Longitudinal Study (CILS), we examine the associationbetween education at the intensive margin and twenty pecuniary and non-pecuniary adultoutcomes among first- and second-generation American immigrant youth. Education at theintensive margin is measured by two widely used standardized math and reading test scores,national percentile rankings on these tests and cumulative grade point average (GPA) in bothmiddle and high school. Our findings provide evidence that the academic achievement ofimmigrant children in early adolescence is an accurate predictor of later life outcomes. Wealso examine a novel hypothesis that relative academic performance of immigrant children inhigh school compared to middle school, which could be an indicator of change in adolescentaspirations and motivation as well as the degree of adaptation and assimilation to the hostcountry, has an effect on their adult outcomes even after controlling for the levels ofacademic performance in middle and high school. The results suggest that an improvementin GPA from middle school to high school is associated with favorable adult outcomes.Several sensitivity tests confirm the robustness of main findings.

Brutalism, metabolism and its American parallel : encounters in Skopje and in the architecture of Georgi Konstantinovski

Abstract Massive, raw concrete structures – the likes of the Telecommunications Building (1972–81) by Janko Konstantinov; the campus of Ss. Cyril and Methodius University (1974) by Marko Musˇicˇ; the National Hydraulic Institute (1972) by Krsto Todorovski; and the Bank Complex (1970) by R. Lalovik and O. Papesˇ – have led to the production of an enduring monumental presence and helped inspire Skopje’s title as the “Brutalist capital of the world”. These works followed Kenzo Tange’s introduction of Japanese Metabolism to Skopje through his role in the 1965 United Nations sponsored reconstruction competition. The unique position of a Non-Aligned Yugoslavia staged and facilitated architectural and professional exchange during the Cold War. Each trajectory and manifestation illustrates the complex picture of international architectural exchange and local production. Skopje and its numerous Brutalist edifices is an elucidative story, because it represents a meeting point between Brutalism, Metabolism and its American parallel. This article discusses, in particular, the Skopje Archive Building (1966) and the “Goce Delcˇev” Student Dormitory (1969) – two buildings designed by the architect Georgi Konstantinovski, realised on his return from a Masters program at Yale University and employment within I. M. Pei’s New York office. Their architecture illustrates the simultaneous preoccupations of leading architects at the time in regaining a conceptual ground made explicit through a complete and apprehensible image. From this particular position, the article explores the question of ethics and aesthetics central to Banham’s outline of the “New Brutalism”.

Beyond interdependence: Economic security and Sino-American-Australian trilateralism

Chinas economic and politico-military development is placing considerable strain on the established framework of the trilateral relationship between itself, the United States, and Australia. Specifically, Chinas rise is generating security concerns that are politicizing economic relations between the three states. A more guarded approach to economic collaboration will transform trilateralism, which up to now has been characterized by the scope allowed for the discrete pursuit of security and economic relations. This will force political authorities to carefully consider their policy priorities and further strain relations between the states, as well as supporting a more cautious approach to China on the part of the United States and Australia.

Volatility dynamics in the term structure of Latin American sovereign international bonds

We examine the nature of volatility dynamics in the term structure of sovereign bonds issued in international markets by major Latin American countries. Focusing only on the U.S. dollar-denominated sovereign international bonds, this study shows the heterogeneous nature of volatility effects that affect the term structure of individual countries in Latin America. Considering the significance of the Argentine credit event in the region, we also account for any change in dynamics following the Argentine default in 2001 by subsampling the pre- and postdefault windows. We also find some evidence of liquidity-driven volatility interaction in the term structure.