INVESTMENT RISK AND THE TRANSITION INTO HOMEOWNERSHIP*

ABSTRACT This paper investigates the extent to which house–price uncertainty affects the transition of renter households into homeownership. Using a 14‐year household panel from the Panel Study of Income Dynamics during the years 1984–1997 and measures of the time‐varying risk and return to owner‐occupied housing, we estimate a Cox proportional hazard model of the effect of house–price volatility on the transition into homeownership. Results indicate that house–price uncertainty has a negative and dramatic impact on transitions into homeownership. In addition, we find that the low‐wealth renters are particularly sensitive to house–price risk.     

Biocultural Consequences of Spanish Contact in the Lambayeque Valley Region of Northern Peru: Internal Enamel Micro‐Defects as Indicators of Early Life Stress

The present study utilises dental histological methods to analyse enamel micro‐defects as indicators of early life stress in indigenous Muchik individuals interred at two sites: La Capilla Santa María Magdalena de Eten (CSMME) (n = 15) and La Capilla del Niño Serranito (CNS) (n = 15), both located in the Lambayeque Valley region of northern Peru. Individuals interred at CNS date to the Early Colonial Period (AD 1533–1610), and individuals interred at CSMME date to the Middle/Late Colonial Period (AD 1625–1760), thus permitting comparison of childhood stress events between the Early and Middle/Late Colonial Periods. Results reveal a high prevalence of Wilson bands at both sites, although a lower prevalence at the CSMME was observed in comparison with the CNS. This indicates that, over time, Muchik individuals in this town may have been able to acclimate to life under Spanish oppression. Stress chronologies suggest that early life stress possibly resulted from inadequate and less than desirable food and/or water available for supplemental feeding during early infancy, especially around the ages of 4 and 5 months. Furthermore, results show that individuals with enamel defects in the form of Wilson bands at both the CNS and CSMME had an earlier mean age‐at‐death (9.6 and 4.05 years, respectively) in comparison with those without observed Wilson bands (19.75 and 8.8 years, respectively). These results underscore the importance of not only regional and temporal studies of the biological consequences of Spanish contact in the Americas but also of investigating the relationship between early life stress and adult health and longevity in archaeological populations. Copyright © 2015 John Wiley & Sons, Ltd.     

Negotiating Authority between UNHCR and ‘The People’

Refugee camps are exceptional places that are left to the benevolent governing of international humanitarian agencies, and offer unique opportunities to explore the making and un‐making of public authority. This article examines how certain groups of young men in a refugee camp in Tanzania manage to establish public authority by relating to ideas of a Burundian moral order, while at the same time relating to the ‘development‐speak’ of international relief operations. The refugees' attempts to establish public authority are highly contested and highly politicized, clashing with the relief agencies' vision of the camp as non‐political. Ironically, the young men who engage in politics in the camp are also closely linked to these relief agencies in their role as brokers between the agencies and the ‘small people’. Public authority is partly produced by the powers that are delegated to them by the agencies and partly formed in the ‘gaps' in the agencies’ system. Similarly, authority rests in part on the respect that these brokers gain from other refugees — a respect that is earned in numerous ways, including outwitting the international organizations — and in part on the recognition that they get from the very same organizations. In other words, public authority rests on complex relations between legitimacy and recognition and between sovereignty and governmentality.     

Bahamian Ship Graffiti

In the Age of Sail the Bahamas was on major routes between the Americas and Europe. Bahamians developed a way of life using their location to advantage. Ship graffiti are the first archaeological evidence of Bahamian shipping activity. The graffiti are unique in the region, being incised into a variety of stone surfaces, and probably other surfaces which have not survived. Images depict locally-built vessels such as sloops and schooners as well as larger, ocean-going ships. Graffiti locations are predominantly associated with people of African heritage and lower socio-economic status. Details suggest artists were familiar with ship construction and rigging.
© 2006 The Author     

Book reviews

Australian Books

A. T. Yarwood: Attitudes to Non‐European Immigration (Problems in Australian History), Cassell, Melbourne, 1968, pp. 146, $2.25.

Frank Hardy: The Unlucky Australians, Thomas Nelson, Melbourne, 1968, pp. 249 + index, $4.95 (cloth), $1.95 (paper).

Stanley Brogden: Australia's Two‐Airline Policy, Melbourne University Press, 1968, pp. 235, $5.75.

C. A. Hughes, ed.: Readings in Australian Government, University of Queensland Press, 1968, pp. 504, $6.50.

Jean Spender: Ambassador's Wife, Angus and Robertson. Sydney, 1968, pp. 207, $4.25.

Arthur Huck: The Chinese in Australia, Longmans, Melbourne, 1968, pp. 117, $4.50.

M. Revelman: Sex and Politics in Australia, Publicity Press Books, Adelaide, 1968, pp. 297, $1.35.

J. A. La Nauze, ed.: Alfred Deakin: Federated Australia: Selections from Letters to the Morning Post: 1900–1910, Melbourne University Press, 1968, pp. 314, $7.20.

Overseas Books

Frank Parkin: Middle‐Class Radicalism: The Social Bases of the British Campaign for Nuclear Disarmament, Melbourne University Press, 1968, pp. 207 + vii, $4.75.

L. J. Sharpe, ed.: Voting in Cities, Macmillan, London, 1968, pp. 340, $8.80.

The Times News Team: The Black Man in Search of Power, Nelson, London, 1968, pp. 174, $4.95.

J. A. A. Stockwin: The Japanese Socialist Party and Neutralism: A Study of a Political Party and its Foreign Policy, Melbourne University Press, 1968, pp. 197 + x, $6.50.

D. A. Low, ed.: Soundings in Modern South Asian History, Australian National University Press, Canberra, 1968, pp. 399 + viii, $7.50.

Gwendolen M. Carter, Thomas Karis and Newell M. Stulyz: South Africa's Transkei: The Politics of Domestic Colonialism, London, Heinemann, 1967, pp. 184 + viii, $6.70.     

Human Agency and Impersonal Determinants in Historical Causation: A Response to David Lindenfeld

Lindenfeld's proposed reclassification of causes—offered in lieu of a chaos theory applicable to history—yields paradoxical results when applied to the developments that installed Hitler in power, since these would have to rank as "constraining" rather than "empowering" because of his lack of control over them. The "principle of sensitive dependence," while an admirable aspiration, proves a counsel of perfection beyond reach of the historian when applied to those same events. As to historical explanations in terms of structural, impersonal determinants, these remain ascendant, to the neglect of human agency. Narrative history, which alone can account for both remote and immediate causes, continues to be unfashionable. Explanations in terms of structures and impersonal forces, which can only imply causation, are attractive because they offer historians wide scope for exercise of erudition and arrive at determinants that appear larger and more powerful than mere actions of humans. Where profound developments are to be explained, such interpretations conform to the assumption that their causes must have been profound. Yet countless turning-points in history, including Hitler's installation in power, were decisively shaped by acts of a few persons. The frustrating difficulty of accounting for individual behavior contributes to the appeal of impersonal, structural explanations. These tend, however, toward a deterministic view of the past which awakens the impression that what happened had to happen. That obscures the openness of past situations and rules out assignment of personal responsibility to individuals, who seem mere pawns of forces beyond their control. A remedy for such deterministic tendencies lies in counterfactual analysis, which, by drawing attention to feasible, but unrealized, alternatives to what happened, can convey the open-ended qualities of past situations and the importance of contingency.     

Marked occupational dental abrasion from medieval Kent

A medieval male skeleton displays marked dental abrasion which is considered to be occupational, possible related to carpentry. Copyright © 2003 John Wiley & Sons, Ltd.     

The Supreme Court, Separation of Powers, and the Protection of Individual Rights during Periods of War or National Security Emergency

To paraphrase Lincoln, there is little that I could say on the history of the Supreme Court's handling of civil-liberties issues during periods of war or national emergency that could add or detract from the truly masterly job Chief Justice William Rehnquist has already done in All the Laws But One . ¹ I highly recommend that book to any who have not yet read it. Because the Chief Justice has provided such an outstanding overview of the subject, I shall depart a bit from what I might otherwise have said on this topic.     

Lapita subsistence strategies and food consumption patterns in the community of Teouma (Efate,Vanuatu)

The subsistence strategies of the Lapita populations (3100–2800 BP), the first colonisers of the pristine environments of the islands of Eastern Melanesia and Western Polynesia, have been a matter of ongoing debate for decades. Opinions have ranged between the two extremes of Lapita colonisers being either characterised as highly mobile foragers to fully horticultural communities. To further address the question, this paper presents stable carbon and nitrogen isotopic data obtained from analyses of human and animal collagen samples from the site of Teouma (Efate, Vanuatu) dated to between c. 3000–2500 BP. The isotopic signatures obtained from 28 samples (23 human and 5 animal), interpreted in combination with isotopic information from several coastal and insular environments, suggest a diet primarily made up of terrestrially derived animal protein with lesser contributions from vegetable produce and inshore marine species. Comparisons linking the isotopic data gleaned from the Teouma individuals and Lapita subsistence patterns reconstructed through archaeozoological and archaeobotanical remains support the hypothesis of a mixed economy, that included terrestrial foraging, inshore marine exploitation and a low level of food production for at least some of the earliest Lapita colonists in Vanuatu.