I have read that one should link to sites with same PR or higher sites, does getting a link from a lower pr site reduce your PR, increase it or has no effect.
I'm not sure, a link is a link is a link. There's a bunch of factors and I really cannot see it reducing your Green Bar of Self Important Worth . Generally strong relevant links are the way forward in my eyes, and the Green Bar of Self Important Worth will soon follow
Links from sites with lower PR is OK - but they should be "on theme". So if you are in the cosmetic niche - there is little point in exchanging with website in the "shoes" niche.
Google would be suspicious if you did not have low PR links as well - links should be "natural"
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