bluuebunny/crossref_metadata_2025 huggingface dataset:
Associations between psychosomatic symptoms in adolescence and mental health symptoms in early adulthood
Authors: Kinnunen Pirjo , Laukkanen Eila , Kylmä Jari
Published: January 2010

Kinnunen P, Laukkanen E, Kylmä J.International Journal of Nursing Practice2010;16: 43–50 Associations between psychosomatic symptoms in adolescence and mental health symptoms in early adulthood

This longitudinal study explored associations between psychosomatic symptoms in adolescence and mental health symptoms in early adulthood. The baseline data were collected in 1996 from 14‐year‐old pupils (n = 235; 116 girls, 119 boys) at schools using a structured questionnaire that included a 14‐item scale of psychosomatic symptoms. The follow‐up data were collected in 2006 from the same persons at the age of 24 using the Symptom Checklist‐90. Follow‐up questionnaires were returned by 149 (63.4%) young adults (88 women and 61 men). Young adults who had many psychosomatic symptoms in adolescence suffered more often than the others from somatization and anxiety symptoms in early adulthood. In addition, women had more symptoms of depression and paranoid ideation, and men had more interpersonal sensitivity and psychotic symptoms. Psychosomatic symptoms in adolescence might be important signals of mental health and this should be taken seriously in school health and in general primary care.
‘Caring? It's the little things we are not supposed to do anymore’
Authors: Pearcey Patricia
Published: January 2010

Pearcey P. International Journal of Nursing Practice 2010; 16: 51–56 ‘Caring? It's the little things we are not supposed to do anymore’

This study explored the views of twenty‐five qualified nurses in five hospitals to determine what they perceived as dominant values in clinical nursing work. Aspects of a grounded theory approach were used and this study formed the final one of three. The first two studies had student nurse samples and this study aimed to confirm and validate the data from the students' perceptions. The student nurses had implied that nurses communicated and ‘cared’ for patient's much less than they expected. Findings from this study reaffirm the students' perceptions and suggest that nurses may not be as caring as they would like to be. One significant issue to emerge, in conjunction with the realization that nurses were not being as caring as they would have liked, was that it mattered to them that caring was the ‘little things’ not ‘supposed to be done anymore’.
An analysis of narratives to identify critical thinking contexts in psychiatric clinical practice
Authors: Mun Mi Suk
Published: January 2010

Mun MS. International Journal of Nursing Practice 2010; 16: 75–80 An analysis of narratives to identify critical thinking contexts in psychiatric clinical practice

The development of students' critical thinking abilities is one of the greatest challenges facing contemporary nursing educators. Nursing educators should know about what kind of contents or situations need critical thinking. The research was undertaken to identify the critical thinking contexts that nursing students confront in psychiatric clinical practices. Students were asked to document their everyday experience. The narratives were analysed and interpreted from the philosophical notion of hermeneutics. Four themes emerged as critical thinking contexts: anxiety, conflict, hyper‐awareness, dilemmas. Writing narratives appear to provide opportunities for reflection in addition to facilitating critical thinking and communicative skills in students. Also, for the instructor, students' clinical narratives could provide insight to understand how students are thinking and to share student's personal difficulties.
Ethical values in caring encounters on a geriatric ward from the next of kin's perspective: An interview study
Authors: Jonasson Lise‐Lotte , Liss Per‐Erik , Westerlind Björn , Berterö Carina
Published: January 2010

Jonasson L‐L, Liss P‐E, Westerlind B, Berterö C. International Journal of Nursing Practice 2010; 16: 20–26 Ethical values in caring encounters on a geriatric ward from the next of kin's perspective: An interview study

The aim of this study was to identify and describe the governing ethical values that next of kin experience in interaction with nurses who care for elderly patients at a geriatric clinic. Interviews with 14 next of kin were conducted and data were analysed by constant comparative analysis. Four categories were identified: receiving, showing respect, facilitating participation and showing professionalism. These categories formed the basis of the core category: ‘Being amenable’, a concept identified in the next of kin's description of the ethical values that they and the elderly patients perceive in the caring encounter. Being amenable means that the nurses are guided by ethical values; taking into account the elderly patient and the next of kin. Nurses' focusing on elderly patients' well‐being as a final criterion affects the next of kin and their experience of this fundamental condition for high‐quality care seems to be fulfilled.
Prevalence of frailty on clinical wards: Description and implications
Authors: Andela Richt M , Dijkstra Ate , Slaets Joris PJ , Sanderman Robbert
Published: January 2010

Andela RM, Dijkstra A, Slaets JPJ, Sanderman R. International Journal of Nursing Practice 2010; 16: 14–19 Prevalence of frailty on clinical wards: Description and implications

This paper describes the prevalence and frailty level of patients aged ≥ 75 years upon admission to various clinical wards. The data collection took place on five clinical wards of different clinical specialisms: Geriatric Centre, traumatology, pulmonology/rheumatology, internal medicine and surgical medicine. The Groningen Frailty Indicator was used to assess the frailty of newly admitted patients. The presence of number and kind of the various frailty indicators was different for the clinical wards, because of clinical diagnose, age and gender. On the Geriatric Centre, almost all patients were indicated as frail. On the other wards, 50–80% of the patients were indicated as frail with most frailty indicators on the scale ‘psychosocial’. The study show a high prevalence of frail elderly on some wards and gives an indication of the various needs for other disciplines within the framework of the care for frail elderly people.
Caregiver burden of family members of persons living with HIV in Thailand
Authors: Lee Sung‐Jae , Li Li , Jiraphongsa Chuleeporn , Rotheram‐Borus Mary J
Published: January 2010

Lee S‐J, Li L, Jiraphongsa C, Rotheram‐Borus MJ. International Journal of Nursing Practice 2010; 16: 57–63 Caregiver burden of family members of persons living with HIV in Thailand

Caregivers of people living with HIV (PLH) in Thailand face tremendous caregiver burden. This study examines complex ways in which caregivers' mental health affects their levels of caregiver burden. This study uses data from 409 caregivers of PLH in northern and north‐eastern Thailand. Multiple regression models were used to examine the predictors of caregiver burden. Depression was significantly associated with caregiver burden (P < 0.0001) and being HIV positive (P = 0.015). Inverse associations were observed between depression and quality of life (P < 0.0001) and caregiver burden and quality of life (P = 0.004). Social support had direct positive association with caregiver's quality of life (P < 0.0001). Our findings underscore the complex relationship between caregiver burden, depression and HIV‐status. Interventions that address the caregiver burden are urgently needed.
A systematic review: Students with mental health problems—A growing problem
Authors: Storrie Kim , Ahern Kathy , Tuckett Anthony
Published: January 2010

Storrie K, Ahern K, Tuckett A. International Journal of Nursing Practice 2010; 16: 1–6 A systematic review: Students with mental health problems—A growing problem

The number of university students with a serious mental illness has risen significantly over the past few years. A systematic review was conducted that addressed emotional and or mental health problems of university students worldwide. In total, 572 articles were identified, of which 11 met inclusion criteria. Issues identified included types of problems experienced by students, how staff dealt with these students, barriers to seeking help, tools that facilitated help‐seeking and epidemiological trends in the university student population. Recommendations include (i) providing better links between the university and external mental health providers, and (ii) increasing students' awareness of existing support services within and external to the university. As it is unrealistic to expect all academic staff to have the expertise required to deal with students with emotional problems, it is also recommended that (iii) policies and personnel with expertise in mental health are available to provide guidance for staff.
Thoracic imaging
Authors: HANSELL David M. , BOISELLE Phillip M. , GOLDIN Jonathan , KAUCZOR Hans‐Ulrik , LYNCH David A. , MAYO John R. , PATZ JR Edward F.
Published: January 2010

The various techniques encompassed in the term ‘Thoracic Imaging’ have had a dramatic effect on the practice of respiratory medicine over the last 25 years. One of many examples is the increased precision with which lung cancer can be preoperatively staged using CT and PET imaging. The increasing sophistication of thoracic imaging tests brings many benefits, but there are caveats. This review considers a selection of techniques and contains state‐of‐the‐art commentaries by distinguished experts on current challenges and likely future developments.
Management of bile duct injury after laparoscopic cholecystectomy: a review
Authors: Lau Wan Yee , Lai Eric C. H. , Lau Stephanie H. Y.
Published: February 2010

Background:  Bile duct injury following cholecystectomy is an iatrogenic catastrophe which is associated with significant perioperative morbidity and mortality, reduced long‐term survival and quality of life, and high rates of subsequent litigation. The aim of this article was to review the management of bile duct injury after cholecystectomy.

Methods:  Medline and PubMed database search was undertaken to identify articles in English from 1970 to 2008 using the key words ‘bile duct injury’, ‘cholecystectomy’ and ‘classification’. Additional papers were identified by a manual search of the references from the key articles. Case report was excluded.

Results:  Early recognition of bile duct injury is of paramount importance. Only 25%–32.4% of injuries are recognized during operation. The majority of patients present initially with non‐specific symptoms. Management depends on the timing of recognition, the type, extent and level of the injury. Immediate recognition and repair are associated with improved outcome, and the minimum standard of care after recognition of bile duct injury is immediate referral to a surgeon experienced in bile duct injury repair. There is a growing body of literature supporting the importance of early referral to a tertiary care hospital which can provide a multidisciplinary approach to treat bile duct injury. Inadequate management may lead to severe complications.

Conclusions:  None of the classification system is universally accepted as each has its own limitation. The optimal management depends on the timing of recognition of injury, the extent of bile duct injury, the patient's condition and the availability of experienced hepatobiliary surgeons.
Thermo‐mechanical methods for improving fatigue performance of wrought magnesium alloys
Authors: SHAHZAD M. , WAGNER L.
Published: February 2010

Wrought magnesium alloys AZ80 and ZK60 were extruded at 300 °C with extrusion ratios of ER = 12 and 44. Resulting microstructures, crystallographic textures and mechanical properties were investigated. Extruding led to profound reduction in grain size, which drastically improved yield stress, tensile elongation and HCF performance. Strength differentials in ZK60 after extruding at ER = 12 were more pronounced than after extruding at ER = 44, whereas no such effect of ER was observed in AZ80. Swaging after extruding further increased yield stress and endurance limit, while strength differential increased and ductility was lowered.
Karst pools in subsurface environments: collectors of microbial diversity or temporary residence between habitat types
Authors: Shabarova Tanja , Pernthaler Jakob
Published: January 2010

We studied bacterial diversity and community composition in three shallow pools of a Swiss karst cave system with contrasting hydrological and hydrochemical properties. The microbial assemblages in the pools were remarkably different, and only one operational taxonomic unit of 16S rRNA genes (OTU, 97% similarity) was shared between the three of them (total OTU number in all pools: 150). Unexpectedly high microbial phylotype richness was found even in the two pools without groundwater contact and with low concentrations of organic carbon and total cell numbers (< 104 ml−1). One of these seepage water fed systems harboured 15 distinct OTUs from several deeply branching lineages of the candidate phylum OP3, whereas representatives of this group were not detected in the other two pools. A tentative phylogeographic analysis of available OP3‐related sequences in the context of our data set revealed that there was generally little agreement between the habitats of origin of closely related sequence types. Two bacterial clades affiliated with the obligate methylamine utilizer Methylotenera mobilis were only found in the pool that was exposed to repeated flooding events. These bacteria formed relatively stable populations of up to 6% of total cell counts over periods of several months irrespective of inundation by groundwater. This suggests that karst water may provide a means of transport for these bacteria from terrestrial to freshwater habitats.
THE EVOLUTION OF A FREE BANKING SYSTEM
Authors: SELGIN GEORGE A. , WHITE LAWRENCE H.
Published: January 2010

The institutional features of models of unregulated monetary systems have often been arbitrarily and implausibly assumed. This paper instead provides realistic grounding for important features by constructing a logical evolutionary account of free banking. Sophisticated and orderly arrangements are shown to emerge from competition and the pursuit of less costly methods of payment. The emergence of standardized commodity money is followed by the development, in turn, of basic money‐transfer banking, easily transferable bank liubilities, and clearinghouses. The features of an evolved free banking system differ from those assumed in recent models of competitive payments systems.
TRANSFERS TO THE POOR AND LONG RUN SAVINGS
Authors: LAWRANCE EMILY C.
Published: January 2010

This paper examines the sensitivity of long run capital accumulation to income redistribution to the poor. I address this question using a simulation model composed of two classes of life cycle consumers, rich and poor, whose economic lives have fifty‐five periods. The poor hue a higher marginal propensity to consume than the rich because they possess a higher rate of time preference and for because they are liquidity constrained. Considering a wide range of parameter values, I find that lump sum, intergenerational redistribution from rich to poor causes minimal reduction in long run life cycle savings.
THE REACTION OF INTEREST RATES TO UNANTICIPATED FEDERAL RESERVE ACTIONS AND STATEMENTS: IMPLICATIONS FOR THE MONEY ANNOUNCEMENT CONTROVERSY
Authors: COOK TIMOTHY , HAHN THOMAS
Published: January 2010

This paper examines the reaction of long‐ and short‐term interest rates to monetary policy surprises that influenced market expectations of the future behavior of the federal funds rate in the period after October 1979. We find that the relative reaction of long‐ and short‐term rates to policy surprises is similar to the relative reaction of these rates to money announcements. Consequently, we conclude that the large reaction of long‐term interest rates to money announcements in the period after October 1979 is consistent with the “policy anticipations hypothesis” which views this reaction as a movement in real interest rates.
INVESTIGATIONS CONCERNING THE DYNAMICS OF CONSUMER BEHAVIOR IN UNCERTAIN ENVIRONMENTS
Authors: COURSEY DON L. , MASON CHARLES F.
Published: January 2010

This paper reports the results of several experiments investigating dynamic consumer behavior. When consumers know their incomes and prices but are uncertain about their preferences, we find that they typically adopt a two‐step approach to locating optimal consumption bundles. Initially, a grid search method is employed; this is followed by a gradient search method. An interesting phenomenon observed in many of our experiments is a tendency to consume a bundle well away from the optimum, immediately after the optimum is located. The effects of income and price changes are also studied.
GOVERNMENT DEBT, CAPITAL ACCUMULATION, AND THE TERMS OF TRADE IN A MODEL OF INTERDEPENDENT ECONOMIES
Authors: ZEE HOWELL H.
Published: January 2010

This paper extends Diamond's overlapping generations model into a two‐good, two‐country setting to analyze the impact of an increase in domestic government debt on the terms of trade, the current account, and capital accumulation at home and abroad. It is found that, while the direction of change in the terms of trade is indeterminate in the short run, for stability it must agree with that in the steady state, which in turn is dependent on the initial debt status in trade of the home country. The higher level of government debt leads unambigously to lower levels of capital stocks, however.
THE COMMON POOL, BARGAINING, AND THE RULE OF CAPTURE
Authors: SMITH JAMES L.
Published: January 2010

Firms producing from a single oilfield face the common‐pool problem: how to divide production and profits among themselves. The rule of capture creates competition among them to produce the oil before anyone else does, and a tendency for overproduction. Private bargaining among the firms can avoid the wasteful production practices associated with the rule of capture and increase joint profits. This paper explores the structure and expected outcome of the common‐pool problem, and demonstrates that smaller producers hold a bargaining advantage that is not easily overcome by larger producers or neutral arbitrators.
SAFETY FIRST, BANKRUPTCY, AND THE PRICING AND INVESTMENT DECISIONS OF THE FIRM
Authors: RAVID S. ABRAHAM
Published: January 2010

The paper analyzes the impact of imposing a constraint on the probability of bankruptcy for the pricing and investment choices of firms. Two models are presented in which a firm faces stochastic demand; in one costs are known with certainty, and in the other costs of production are probabilistic. In both cases the constraint induces a reduction in optimal price if demand is elastic. For less elastic demand, price increases may be indicated. With constant costs, the constraint lowers optimal investment. The results are applicable to the analysis of rating agencies' behavior, or to the design of bond covenants, especially for public utilities.
FISCAL ILLUSION AND THE GRANTOR GOVERNMENT IN CANADA
Authors: HAMMES DAVID L. , WILLS DOUGLAS T.
Published: January 2010

Recent work on the U.S. concludes that one or more illusions are responsible for the empirically observed “flypaper effect.” Using annual Canadian data for the period 1962–84, we test the “single‐illusion” and “dual‐illusion” specifications currently in the literature. While the empirical results support the dual‐illusion specification, it is not the unambiguous choice over single‐illusion specifications as previously found. Further, the nature of the grant system in Canada raises questions about whether illusions or real factors produce the empirical results.
THE CHANGING RESPONSIVENESS OF WAGES TO PRICE‐LEVEL SHOCKS: EXPLICIT AND IMPLICIT INDEXATION
Authors: Holland A. Steven
Published: January 2010

The article provides evidence for the U.S over the period 1961‐84 that the responsiveness of nonunion wages to price‐level shocks changes through time much as the degree of indexation in union contracts does, suggesting that there exists implicit as well as explicit indexation. When coupled with the result from previous research that indexation responds positively to inflation uncertainty, the findings indicate that greater inflation uncertainty may lead to reduced overall wage rigidity. In the context of a rational expectations model with long‐term wage contracts, a decline in the effectiveness of an activist monetary policy could result.
PROPERTY RIGHTS and DECISION MAKING IN THE SOVIET UNION: INTERPRETING SOVIET ENVIRONMENTAL HISTORY
Authors: Schap David
Published: January 2010

Soviet history consists of two periods which differ according to degree of environmental concern. The difference is explainable in the context of a property‐rights analysis of the Soviet hierarchy. In a model in which membership in the hierarchy is understood as a quasi‐transferable property right, the degree of Soviet environmental conservation is directly related to the degree of stability of the hierarchy. Democratic institutions within the hierarchy serve to mitigate the informational problems that accompany collective decision making.
CONSTITUENT INTEREST VS. LEGISLATOR IDEOLOGY: THE ROLE OF POLITICAL OPPORTUNITY COST
Authors: McArthur John , Marks Stephen V.
Published: January 2010

This paper applies the economic model of legislative voting to the automobile industry domestic content vote in the U.S. House of Representatives in 1982. We consider constituent interests for and against the Ml, and compare the predictive powers of alternative indicators of ideological preferences.

We also examine the role of political opportunity cost and find that lame ducks were significantly less likely to vote for the bill than were returnees to Congress. Given the political advantages of voting for the bill, this is consistent with the view that legislators were influenced by the case for freer trade.
THE MICROECONOMIC FOUNDATIONS OF MEASURING BRACKET CREEP and OTHER TAX CHANGES
Authors: Baye Michael R. , Black Dan A.
Published: January 2010

We derive a measure of the bracket‐creep‐induced inflation tax based on an income‐compensation function that recognizes that consumers substitute among deductible and nondeductible goods as the incentives to consume the goods change over time. The measure of the inflation tax is decomposed into a convenient function of marginal tax rates and the change in expenditures on tax deductible goods relative to nondeductible goods that are required to maintain a fixed level of utility. Tentative estimates suggest that the inflation tax as a percentage of constant utility income during the 1970s averaged about 1 percent per year.
STATE LIQUOR LICENSING, IMPLICIT CONTRACTING, AND DRY/WET COUNTIES
Authors: Toma Eugenia Froedge
Published: January 2010

Local option liquor laws are generally interpreted as granting voters the right to choose between allowing and prohibiting alcoholic beverage sales. This paper argues that the real choice confronting voters is between legal sales according to state‐prescribed rules and illegal sales according to an informal set of locally‐determined rules. Given this choice, rational voters will choose the option with the lower relative price. State laws restricting the number of licenses that can be issued in legally wet jurisdictions prove to be more powerful than religious preferences in explaining the pattern of dry counties.
ARE GOVERNMENT BONDS NET WEALTH? EVIDENCE FOR THE UNITED STATES
Authors: Evans Paul
Published: January 2010

This paper investigates whether government bonds are viewed as net wealth. If they are, the nominal interest rate in steady‐state equilibrium should be an increasing function of the government debt and of government spending. Using forward interest rates realized during World War II, this paper finds no evidence of such a relationship. These data afford an especially powerful test because the federal debt rose from 29 to 106 percent of trend output during the war. This enormous increase in government debt actually appears to have reduced forward interest rates by a statistically significant, but small, amount.
THE BEHAVIORAL LIFE‐CYCLE HYPOTHESIS
Authors: Shefrin Hersh M. , Thaler Richard H.
Published: January 2010

Self‐control, mental accounting, and framing are incorporated in a behavioral enrichment of the life‐cycle theory of saving called the Behavioral Life‐Cycle (BLC) hypothesis. The key assumption of the BLC theory is that households treat components of their wealth as nonfungible, even in the absence of credit rationing. Specifically, wealth is assumed to be divided into three mental accounts: current income, current assets, and future income. The temptation to spend is assumed to be greatest for current income and least for future income. Considerable empirical support for the BLC theory is presented, primarily drawn from published econometric studies.
FEDERAL TRANSFER PAYMENTS IN AMERICA: VETERANS‘ PENSIONS AND THE RISE OF SOCIAL SECURITY
Authors: Baack Ben , Ray Edward John
Published: January 2010

This paper examines the determinants of the adoption of the veterans' pension program and how it served as a prototype for the creation and administration of the federal welfare system in the United States. We provide statistical evidence in the form of an analysis of votes in the House of Representatives that state‐based special interests which had supported the ongoing liberalization of the veterans' pension program provided significant support for the adoption of the Social Security Act of 1935. There is clear evidence the social security system was not adopted as a simple extension of state old‐age pension programs.
WAGES, RENTS, AND AMENITIES: DIFFERENCES AMONG WORKERS AND REGIONS
Authors: ROBACK JENNIFER
Published: January 2010

What explains persistent regional earnings differences? This paper argues that regional differences in amenities can account for the wage differences; in contrast, cost of living variations do not account for wage differences, but actually exacerbate them. This conclusion results from a model in which variations in rents and wages are equalizing differences for amenity differences. Empirical results are consistent with the model.
COMPETITION AND BIDDING BEHAVIOR: SOME EVIDENCE FROM THE RICE MARKET
Authors: MEYER DONALD J.
Published: January 2010

When objects have uncertain value, the net effect of competition in sealed‐bid auctions is ambiguous. The risk of succumbing to the “winner's curse” generally causes bidders to exhibit a non‐aggressive response in addition to the standard competitive effect. Sellers can influence the size of the nonaggressive effect by responding to the value uncertainty. This paper focuses specifically on individual bidding behavior in a rice auction market in which sellers issue a product‐quality guarantee. The empirical evidence supports my hypothesis that such a guarantee negates the significance of the nonaggressive bidder response.
OPTIMAL CONTESTS
Authors: GLAZER AMIHAI , HASSIN REFAEL
Published: January 2010

Firms frequently use contests to compensate their employees: an employee's pay depends on the ranking of his output compared to that of others, rather than on the absolute level of his output. This paper analyzes the design of a contest which maximizes the contestants' expected aggregate output, and describes two settings which yield opposite results. In one, prizes should be equal except for that given to the contestant with the lowest output. In the other setting, only the contestant with the highest output should obtain a meaningful prize.
PROFIT AND EXPENDITURE FUNCTIONS IN BASIC PUBLIC FINANCE: AN EXPOSITORY NOTE
Authors: GREENBERG EDWARD , DENZAU ARTHUR T.
Published: January 2010

This paper demonstrates how profit and expenditure functions may be used to prove fundamental results about deadweight losses suffered by consumers, producers, and resource owners. Losses arising from excise taxes and subsidies are examined and, in the case of a tax, the individual level analysis is extended to the market level in a partial equilibrium setting. In addition, profit and expenditure functions are applied to quantity constraints, two‐part tariffs, all‐or‐nothing choices, and reservation prices. Although no new results are derived, the paper provides motivation for the study of indirect objective functions and duality.
FIRST‐PRICE COMMON VALUE AUCTIONS: BIDDER BEHAVIOR AND THE “WINNER'S CURSE”
Authors: KAGEL JOHN H. , LEVIN DAN , BATTALIO RAYMOND C. , MEYER DONALD J.
Published: January 2010

Experimental auction markets are characterized by a strong winner's curse in early auction periods as high bidders consistently lose money, failing to account for the adverse selection problem inherent in winning the auction. With experience and bankruptcy on the part of the worst offenders, subjects earn positive average profits, but these are far below Nash equilibrium predictions as a sizable minority of bids exceed the expected value of the item conditional on having the highest estimate of value. Individual bidding behavior is explored to identify the mechanism whereby market outcomes no longer display the worst effects of the winner's curse.
AIDS TESTING: AN ECONOMIC ASSESSMENT OF EVOLVING PUBLIC POLICY
Authors: THOMPSON VELMA MONTOYA
Published: January 2010

Should laissez faire prevail as to the private‐market supply of the AIDS antibody test? Applying a recent theorem from the economics of property rights, this paper determines that the answer is negative, and shows that the optimal policy regarding the AIDS antibody test differs according to whether individuals are at low risk or high risk. Next, using the same economic theory, this paper finds that rules guaranteeing strict confidentiality of the AIDS test result are unjustified. They also are unjustified on traditional legal grounds.
INVESTMENT AND THE NOMINAL INTEREST RATE: THE VARIABLE VELOCITY CASE
Authors: KOENIG EVAN F.
Published: January 2010

Models treating money either as a consumer good or as a producer good are encompassed by a model in which both households and firms use money as a buffer between receipts and expenditures. A rise in nominal interest rates increases resources devoted to intermediation, while discouraging purchases financed from accumulated cash. If investment is financed from contemporaneous earnings, there is a tendency to substitute out of consumption and into investment when interest rates are high. Greater resources devoted to intermediation generate a negative wealth effect. The net impact on investment is ambiguous.
THE EMPIRICAL RELIABILITY OF MONETARY AGGREGATES AS INDICATORS: 1983–1987
Authors: Darby MICHAEL R. , Mascaro ANGELO R. , Marlow MICHAEL L.
Published: January 2010

It is widely believed that monetary aggregates have failed to predict economic performance over 1983‐87. This paper observes that the traditional definition of money (M1 lessother checkable deposits, or M1A) shows no evidence of structural change, and yields lower prediction errors for both real GNP and inflation over 1983‐87Q2 than the errors obtained using M1 or M2. If there is a mystery, it is not why MIA has done so well, but why economists abandoned it for M1 or what was once called M1B (currency, demand deposits, and other checkable deposits).
RATIONAL EXPECTATIONS IN THE AGGREGATE
Authors: Haltiwanger JOHN C. , Waldman MICHAEL
Published: January 2010

This paper investigates the relationship between the way rational expectations is employed in practice and the argument initially put forth to justify its use. In practice rational expectations has meant that the expectations of each agent taken separately is consistent with the predictions of the theory. This is different than the argument frequently used by proponents of rational expectations that on an aggregate level expectations should be consistent with the theory. The primary findings are that standard and aggregate rational expectations typically yield systematically different equilibria and that the size of the difference depends positively on the degree of synergism.
INDUSTRIAL STRUCTURE AND MONOPOLY POWER IN THE FEDERAL BUREAUCRACY: AN EMPIRICAL ANALYSIS
Authors: Carroll KATHLEEN A.
Published: January 2010

Predictions of various models of public sector supply rely on the assumption of bureau monopoly power. This assumption is tested first by measuring industrial structure of the federal public sector using the concentration ratio and Herfindahl index, and second by examining the relationship between the resulting estimates and bureau monopoly power. The findings indicate that monopoly structure of the federal bureaucracy is more limited than is generally assumed. Interpretations on the basis of traditional industrial organization theory and contestable market theory suggest that bureau monopoly power is questionable and may not be the source of observed inefficiencies in bureau supply.
IMMIGRANT AND EMIGRANT EARNINGS: A LONGITUDINAL STUDY
Authors: BORJAS GEORGE J.
Published: January 2010

This paper analyzes the relationship between earnings and the extent of assimilation, cohort quality change, and return migration experienced by the foreign‐born population. The study uses the longitudinal data available in the Survey of Natural and Social Scientists and Engineers. The analysis reveals that there was a sizable decline in the skills of this population over the last two decades. In addition, the study shows that return migration is more likely among immigrants who did not perform well in the U.S. labor market.
DEADWEIGHT LOSSES AND THE SAVING RESPONSE TO A DEFICIT
Authors: FREMLING GERTRUD M. , LOT JOHN R.
Published: January 2010

Several recent empirical studies have challenged the conventional wisdom that deficits cause a higher interest rate. Many economists are, however, critical of the seemingly implied theoretical justification—that every individual fully recognizes the size of the deficit and the extent to which it increases future tax liabilities. This paper demonstrates that far weaker information assumptions are needed to obtain an aggregate savings response equal to the deficit: a reallocation of deadweight losses causes Ricardians to save more than their share of the deficit to keep consumption unaffected, allowing for a substantial fraction of Keynesians who save less than their share.
EXCHANGE RATE VOLATILITY: THE ROLE OF REAL SHOCKS AND THE VELOCITY OF MONEY
Authors: SALYER KEVIN D.
Published: January 2010

The effects of stochastic output shocks on the behavior of ex‐change rates and nominal price levels is studied within the context of a two‐country, cash‐in‐advance model. The analysis of this model, in contrast to the existing cash‐in‐advance literature, demonstrates that exchange rates can be more volatile than price levels even though agents' elasticity of substitution between foreign and domestic goods is greater than one‐half. This possibility arises when output shocks are autocorrelated and are due to revisions in expectations that affect the terms of trade and/or the velocity of money.
AGENCY GROWTH, SALARIES AND THE PROTECTED BUREAUCRAT
Authors: JOHNSON RONALD N. , LIBECAP GARY D.
Published: January 2010

In contrast to numerous assertions in the literature on bureaucratic behavior that government employees seek to promote the growth of their agencies to increase their salaries, this paper offers empirical evidence indicating the absence of a significant positive relationship between agency growth and salaries. The impact of agency growth on salaries is estimated using a random sample of individual federal white‐collar employees. Inspection of civil service rules reveals that most federal employees are highly insulated from fluctuations in agency staffing or budget appropriations. The existence of a highly protected bureaucracy raises questions about the control and performance of federal workers.
DOES THE CENTRAL AMERICAN COMMON MARKE1 BENEFIT ITS MEMBERS?
Authors: MÉNDEZ JOSÉ A. , ROUSSLANG DONALD J.
Published: January 2010

This paper estimates the welfare consequences for members of the Central American Common Market if they abolish their union by imposing tariffs against each other. An imperfect substitutes trade model is used and direct estimates are provided for the effects of the union. These are important advances over previous studies, which relied on perfect substitutes models and merely imputed the effects of the union by assuming that it left either market shares or income elasticities of demand constant in member countries. The union is shown to impose static welfare losses on the members, which contradicts the results of previous studies.
EXCESS RETURNS AND OFFICIAL INTERVENTION: CANADA 1952–1960
Authors: DAVUTYAN NURHAN , PIPPENGER JOHN
Published: January 2010

Research shows that filter rules in foreign exchange markets yield higher than normal profits. Other work indicates that central banks lean against the wind in those markets and some claim that this intervention generates profits for private speculators. This study, which uses daily data for exchange rates and official re‐serves, indicates that excess profits from filter rules between the U.S. and Canadian dollar during the 1950s are the result of intervention by the Bank of Canada.
ADVERTISING AND PRODUCT QUALITY IN POSTED‐OFFER EXPERIMENTS
Authors: Holt CHARLES , Sherman ROGER
Published: January 2010

Sellers selected both price and quality but buyers had limited information about those choices in the experiments reported here. Market efficiency was high under full information with truthful advertising of prices and qualities, but was much lower with no advertising of price or quality. Efficiency did not improve when sellers were permitted to advertise price, but not quality, and in half of these experiments “lemons” outcomes occurred. Although the range of outcomes is great, it cannot be claimed that price advertising improves efficiency when quality is unknown.
AN ANALYSIS OF IMPORT EXPANSION POLICIES
Authors: Dinopoulos ELIAS , Kreinin MORDECHAI E.
Published: January 2010

Voluntary Import Expansion is a policy under which one country (Japan) agrees to import a minimum quantity of a commodity from another country (U.S.) It turns out that Japan is better off under an equivalent export subsidy; the U.S. is better off under a VIE; and the welfare of a third‐country is higher under a policy which improves its term of trade. The “optimum” VIE for the U.S. results in a trade equilibrium point where the U.S. fnter curve is of unitary elasticity. We also consider the case of a U.S. export which is Giffen good in Japan.
ATTENDANCE RATES, POLITICAL SHIRKING, AND THE EFFECT OF POST‐ELECTIVE OFFICE EMPLOYMENT
Authors: Lott JOHN R.
Published: January 2010

Most economists agree that opportunistic behavior by politicians is limited by the threat of reelection. By implication, the level of shirking should be the greatest when a politician decides to leave office. This paper seeks to learn whether shirking can be reduced when opportunities exist for political parties andlor constituencies to fnfect a shirking politician's post‐elective career or the careers of his children. Shirking is found to be completely eliminated only in the case where both the retiring congressman and his offspring continue to be employed in government andlor lobbying fnter the congressman leaves elective office.
THE U.S. EMBARGO ACT OF 1807: ITS IMPACT ON NEW ENGLAND MONEY, BANKING, AND ECONOMIC ACTIVITY
Authors: Fenstermaker J. VAN , Filer JOHN E.
Published: January 2010

For half a century economists have debuted the impact of the Embargo Act of 1807 on the U.S. economy. Using New England bank statistics and the weekly prices of financial assets traded in the Boston market, hypotheses generated by a real business cycle model are tested. The study concludes that the embargo significantly fnfected the levels of real and nominal bunk loans, the real and nominal money stock, and current financial asset yields. Also, increased monetary und banking activity in Maine during the period supports the long‐standing hypothesis that the embargo caused an increase in smuggling activity.
1979–1982: RULES OR DISCRETION IN MONETARY POLICY?
Authors: Hoelscher GREGORY
Published: January 2010

What determined MI growth from November 1979 through October 1982? A reaction function is developed and tested which ascribes the level of M1 to two Fed motives. One is the Fed's desire to hit its money growth targets, the other is to carry out a counter‐cyclical short‐run monetary policy. Both motives are found to be significant during the period. This evidence is consistent with the contention of some economists that the period was not a valid test of monetarist policy rules.
PROFIT SHARING, WAGE BARGAINING, AND UNEMPLOYMENT
Authors: Holmlund BERTIL
Published: January 2010

The Paper examines the effects of profit sharing in an economy with decentralized wage bargaining. Profit sharing makes workers' income more sensitive to wage changes, and this leads to wage moderation. But economy‐wide profit sharing may also improve worker's outside income opportunities, and this strengthens the union's hand in bargaining and tend to raise wages. It turns out that equilibrium unemployment is reduced by profit sharing as long as the elasticity of substitution between labour and capital is less than one, whereas unemployment is increased if the elasticity of substitution is greater than one.
EFFICIENCY WAGE MODELS OF UNEMPLOYMENT‐ONE VIEW
Authors: Carmichael H. LORNE
Published: January 2010

Persistent wage rigidity and involuntary unemployment appear to be recurrent problems in most economies. What could be preventing the wage adjustment necessary to clear the labor market? Many recent papers claim to have found the answer in efficiency wage models. This paper surveys this literature and attempts to evaluate its accomplishments. It concludes that the efficiency wage models fail to explain wage rigidity or persistent involuntary unemployment.
EFFICIENCY WAGE MODELS OF UNEMPLOYMENT: A SECOND VIEW
Authors: Lang KEVIN , KAHN SHULAMIT
Published: January 2010

Efficiency wage models, in which firms find it profitable to pay wages above workers' reservation wages, provide a promising explanation for unemployment and interindustry wage differentials. One criticism of such models is they imply firms should sell jobs by requiring up‐front bonds from new workers. However, only some efficiency wage models imply this. Moreover, firms might not require bonds for many reasons. We show that moral hazard and adverse selection models together explain many labor market phenomena. The efficiency wage model conforms well to empirical finding, but certain anomalies suggest the need to consider rent‐sharing models.
EXPORT INSTABILITY AND LONG‐TERM CAPITAL FLOWS: RESPONSE TO ASSET RISK IN A SMALL ECONOMY
Authors: Nash JOHN
Published: January 2010

An open capital account allows long‐term capital flows to automatically mitigate adverse effects of export instability on domestic saving and investment. An application of portfolio management theory shows that risks that are systematic to the domestic market are diversified internationally. This may help explain why foreign investment finances many high‐risk investments in export sectors of LDCs and why results of studies of the effects of export instability show inconsistent results. This theory is presented and tested empirically.
INTEREST RATE CEILINGS AND THE ROLE OF SECURITY AND COLLECTION REMEDIES IN LOAN CONTRACTS
Authors: Manage NEELA D.
Published: January 2010

Collateral or other security for personal loans and restrictions on creditor remedies for the collection of debts have varying effects on the price and quantity of credit which depend in turn on the level of interest rate ceilings. We report here on reduced‐form equations of a supply‐demand model estimated for five states with different interest rate restrictions. Interest rate ceilings limit how far lenders can raise loan rates to compensate for expected default losses but restrictions on collection remedies are generally associated with a higher interest rate.
THE POLITICAL ECONOMY OF U.S. WHEAT LEGISLATION
Authors: Babcock BRUCe A. , Carter COLIN A. , Schmitz ANDREW
Published: January 2010

Both taxpayer subsidies to U.S. wheat producers and domestic deadweight losses increased as a result of the U.S. wheat program adopted in 1985. A calculation of the costs and benefits of alternative wheat policies shows that mandatory production controls with no taxpayer expense could have made wheat producers as well off as the adopted policy. Becker's theory of competition among interest groups and Peltzman's theory of the equilibrium amount of regulation are shown to be consistent with the observed policy choice if the list of fnfected interest groups includes agricultural input suppliers and grain marketing firms.
INTRACOUNTRY EVIDENCE ON THE LUCAS VARIANCE HYPOTHESIS
Authors: KATSIMBRIS GEORGE M.
Published: January 2010

Intracountry time‐series evidence for a sample of thirty‐nine countries fails to provide strong support for the basic implications of the Lucas aggregate supply model, namely: there exists a negative relationship between the output‐inflation tradeoff and the variability of both nominal aggregate demand and the rate of inflation, and a positive relationship exists between the variabilities of the inflation rate and aggregate demand. The findings differ from those of most of the previous cross‐sectional studies, which found support for the Lucas variance hypotheses, but are consistent with Froyen and Waud's [1980; 1984].
FINANCIAL INNOVATION, PRICE SMOOTHING, AND MONETARY POLICY
Authors: MARQUIS MILTON H. , CUNNINGHAM STEVEN R.
Published: January 2010

This paper examines an unregulated transaction services market that is subject to financial innovation in an economy that experiences aggregate supply and demand shocks. The availability of this unregulated market to transactors smooths the price response to these shocks. However, financial innovations act as money supply shocks that increase price disturbances. If there is persistence in the real aggregate supply shocks and in the rate of adoption of financial innovations, then the central bank can forecast some portion of the changes in transaction requirements that accompany these shocks and damp the residual variation in prices by accommodating these anticipated needs.
JOB MATCH, TENURE AND WAGES PAID BY FIRMS
Authors: Hersch Joni , Reagan Patricia
Published: January 2010

Using a new data set consisting of a matched sample of workers and firms, and including explicit measures of match quality, the authors estimate a structural model and find new evidence of a strong positive relation between wages and tenure. Inclusion of firm‐fixed effects does not significantly reduce the estimated returns to tenure. The results also shed light on the relative importance of human capital and job matching theories.
THE GREAT ALASKAN MONEY GIVE AWAY PROGRAM
Authors: Olson Dennis O. , O'brien J. Patrick
Published: January 2010

For the past six years the State of Alaska has engaged in a unique program in which annual direct cash distributions have been made to the populace. These distributions represent in a sense dividend payments made to citizens on their individual shares of Alaska's mineral wealth. This paper provides a historic perspective of the Alaska dividend distribution program and examines actual distributions to determine whether they are consistent with utility maximization. We found that either a dramatic change in preferences took place over the past six years or that distributions were inconsistent with intertmporal utility maximization.
WHY DOESN'T SOCIETY MINIMIZE CENTRAL BANK SECRECY?
Authors: LEWIS KAREN K.
Published: January 2010

Societies have incentives to design institutions that allow central bank secrecy. This paper illustrates two of these incentives. First, if society tries to constrain secrecy in one way, central bankers will try to regain lost effectiveness by building up secrecy in other ways. Therefore, we may wind up accepting types of secrecy that appear preventable because reducing them would lead to higher costs. Second, if the social trade‐offs between policy objectives change over time, the public may directly prefer greater central bank secrecy so that it will be surprised with expansionary policies when it most desires them.