bluuebunny/crossref_metadata_2025 huggingface dataset:
STATE PER CAPITA INCOME CONVERGENCE SINCE 1950: SHARECROPPING'S DEMISE AND OTHER INFLUENCES*
Authors: Crown William H. , Wheat Leonard F.
Published: July 2006

ABSTRACT. Prevailing theories wrongly attribute post‐1950 convergence of state per capita incomes to (1) neoclassical adjustment mechanisms, (2) institutional sclerosis, and (3) southern industrialization. But convergence‐essentially a weakening of southern poverty–resulted mainly from the South's overcoming its legacy of slavery: the sharecropper‐tenant system, agricultural dependence, high black population percentages, poor education, and low wage rates. Sharecropping was the dominant feature; abject poverty among sharecroppers dragged southern income to its knees. Sharecropping's collapse and attendant South‐to‐North migration affected the legacy's other features in ways that raised income. Manufacturing growth and transport improvements caused relative income in the West to decline.
LONG‐TERM FORECASTING OF NONCOINTEGRATED AND COINTEGRATED REGIONAL AND NATIONAL MODELS*
Authors: Shoesmith Gary L.
Published: July 2006

ABSTRACT. Johansen's (1988) multivariate test for cointegration is first applied to four models involving quarterly state data and five variables, along with a national model based on Friedman and Kuttner's (1992) model of money demand, which uses three variables. Each regional model consists of frequently used national and state series, for which theory suggests the possible cointegration of several series pairs. Beginning with all five series, however, one state model is found to be cointegrated over each of 20 successive estimation intervals. The money demand model and one state model are not cointegrated over the same intervals. In the cointegrated case, five‐year experimental forecasts show that error correction mechanism (ECM) and Bayesian ECM models outperform all other approaches. More importantly, forecasting performance improves further by respecifying the ECM model based on three cointegrated series pairs rather than the five‐component cointegrating vector. For the two noncointegrated systems, the first‐difference model suggested by the cointegration/ error correction literature is far superior to VAR in levels over both shortand long‐term horizons.
ADDITIVE‐RATIO MEASURES OF INTERACTMTY IN INPUT‐OUTPUT SYSTEMS
Authors: Asami Yasushi , Smith Tony E.
Published: July 2006

ABSTRACT. A general axiomatic framework is developed for analyzing alternative measures of interactivity between the sectors of a given activity system (such as the industrial sectors of an economy). Within this overall framework, we analyze an ordinal class of additive‐ratio measures which has been applied to a wide variety of systems, including both economic and ecological systems of activities. Our main result is to show that such measures can be characterized by four interactivity axioms. In addition, a wide variety of alternative measures are compared to additive‐ratio measures in terms of this axiom system.
THE INTRAMETROPOLITAN DISTRIBUTION OF R&D ACTIVITIES: THEORY AND EMPIRICAL EVIDENCE*
Authors: Sivitanidou Rena , Sivitanides Petros
Published: July 2006

ABSTRACT. The paper presents a first attempt to unveil the underlying determinants of the geography of R&D labs within contemporary metropolises. To this end, the study builds on the premise of contemporary intraurban location and pricing models, suggesting that intraurban variations in property rents must reflect the imputed location preferences of firms or their workforce, as well as the extent to which local institutional constraints hinder these preferences. Against this background, the study proceeds with the econometric analysis of R&D property rent differentials within Greater Los Angeles. The empirical results indicate that access to research and nonresearch universities, transportation access, access to a host of worker amenities, as well as zoning and other local regulations play a critical role in shaping the intraurban geography of R&D labs.
COMPETITIVE FACILITIES: MARKET SHARE AND LOCATION WITH RANDOM UTILITY*
Authors: Drezner Tammy , Drezner Zvi
Published: July 2006

ABSTRACT. A new approach is proposed for calculating the expected market share. It is assumed that consumers patronize a facility according to a utility function, selecting the facility with the highest utility value. However, consumers'ratings of the utility components are stochastic by some random distribution. Therefore, the buying power of customers located at the same point is divided among several facilities. A probability that a consumer patronizes a certain facility can be calculated. Consequently, the expected market share by competing facilities can be estimated. This calculation is more than 1,000 times faster than repeating a simulation enough times to achieve a reasonable accuracy.

The distance decay calculated using the new approach is approximately exponential. A procedure for finding the optimal location anywhere in the plane for a new facility that maximizes the market share is also introduced.
RURAL RETAIL BUSINESS THRESHOLDS AND INTERDEPENDENCIES*
Authors: Shonkwiler J. S. , Harris Thomas R.
Published: July 2006

ABSTRACT. The occurrence of rural retail activity may be related to the concept of threshold, which suggests the direct relationship between surrounding populations and the hierarchical functions provided. Empirid studies have typically examined individual categories of retail firm concentration or multiplication in isolation of the extent of other retail activities. This study develops models of retail business concentration for sparsely populated rural markets, and emphasizes proper statistical treatment of the discrete firm‐count data. The analytical approach specifies systems of multivariate count data models that can capture the interdependencies among merent types of retail firms. The degree of interdependence is tested and shown to be a significant statistical feature of the model of rural retail firm counts.
THE OPTIMAL LOCATIONS OF BRANCH FACILITIES AND MAIN FACILITIES WITH CONSUMER SEARCH*
Authors: Braid Ralph M.
Published: July 2006

ABSTRACT. This paper examines the socially optimal locations of branch facilities (or small stores) and main facilities (or large stores) on a finite linear market that is uniformly populated from position 0 to position 1. Each consumer has a probability w of finding the desired service (or product) at a branch facility, and a probability 1 of finding the desired service (or product) at a main facility. Two types of consumer search are considered: phone search and visit search. Different assumptions are made about the numbers of branch facilities and main facilities (each involving one or two facilities of each type). Under visit search, the socially optimal locations of branch facilities tend to be closer to main facilities than under phone search, and this tendency is more pronounced for smaller values of w.
COUNTYWIDE EMPLOYMENT AND POPULATION GROWTH: AN ANALYSIS OF THE 1980s*
Authors: Clark David E. , Murphy Christopher A.
Published: July 2006

ABSTRACT. Regional scientists remain interested in studying interregional differences in the growth rates of population and employment. Following the earlier work of Carlino and Mills, this paper examines growth trends at the county level in the US. during the period 1981–1989. Five major sectors of employment are examined. A partial adjustment model is developed that captures intercounty differences in amenities, business and fiscd conditions, demography, employment structure, and relative location. Some evidence is given that population and employment growth was simultaneous, although feedback effects apparently were not strong.
DISCRETE SPATIAL CHOICE MODELS FOR AGGREGATE DESTINATIONS*
Authors: Kanaroglou Pavlos S. , Ferguson Mark R.
Published: July 2006

ABSTRACT. In problems of spatial choice, the choice set is typically more aggregated than the one considered by decision‐makers, often because choice data are available only at the aggregate level. These aggregate choice units will exhibit heterogeneity in utility and in size. To be consistent with utility maximization, a choice model must estimate choice probabilities on the basis of the maximum utility within heterogeneous aggregates. The ordinary multinomial logit model applied to aggregate choice units fails this criterion as it is estimated on the basis of average utility. In this paper, we derive and discuss a model which utilizes the theory underlying the nested logit model to estimate the appropriate maximum utilities of aggregates. We also demonstrate that the aggregate alternative error terms are asymptotically Gumbel, thereby relaxing the assumption of extreme value distributed error terms. This is accomplished with help from the asymptotic theory of extremes.
QUELQUES MISES AU POINT AVANT DE MESURER
Authors: Papi G. Ugo
Published: July 2006

Dans le domaine de l'économic, l'observation prend note, en premier lieu, de l'existence d'un phénomene. Elle s'efforce ensuite de l'individualiser et d'en saisir les aspects caractéristiques et différentiels. Puis l'observation s'efforce d'établir quelle connexion existe entre des entités économiques telles que l'emploi, l'investissenient, le travail, le coût de la Vie, la politiquc monétaire et fiscale. Elle arrive enfin à mesurer les variations de ces phénomènes. Les «économétriciens » appellent cette activité. de la connaissance: « general macroeconomics ». II apparait nécessaire, dans ce domaine, de fixer au préalable, quelques définitions.
THE MATHEMATICAL STRUCTURE OF A DECISION MODEL: THE OSLO SUB‐MODEL*)
Authors: Frisch Ragnar
Published: July 2006

Summary: § 1. List of variables to be considered. –§ 2. The relations of the model. –§ 3. The number of degrees of freedom. The selection problem and the steering problem. –§ 4. How to ask specific questions. –§ Tables of the first kind. –§ 6. Tables of the second kind. –§ 7. A technique for the selection of optimal solutions. Some useful ≪search≫ formulae. –§ 8. Note on the elasticity of spending and the flexibility of the marginal utility of money.
NON‐EXISTENCE OF CONSISTENT ESTIMATOR SEQUENCES AND UNBIASED ESTIMATORS: A PRATICAL EXAMPLE
Authors: Konijn H. S.
Published: July 2006

Summary:Under conditions often occurring in practice the variance of the estimated constant in a regression equation with correlated disturbances cannot be estimated without bias or consistently, although it is identifiable.
A GENERAL DUALITY THEOREM OF CONVEX PROGRAMMING *
Authors: Van Moeseke Paul
Published: July 2006

Summary:In section 2 we formulate a linear programming problem, dual to the general convex programming problem, in such a fashion that this dual has the straightforward economic interpretation of a pricing problem. It turns out that the presently known duality results follow from the theorem. Known duality results in nonlinear and quadratic programming are derived in section 2. Section 3 derives and extends the duality results of homogeneous‐constraint programming (including linear and quadratic programming).
TREND MOVEMENTS IN AGGREGATE ECONOMIC GROWTH MODELS
Authors: Tintner G. , Narasimham G. V. L.
Published: July 2006

The dominating characteristic of most economic time series is the trend and the basie problem in the theory of trend movements consist in discovering the basie causes of long‐term changes in the series. The relevance for the theory of economic growth is the determination of economic growth and the extent to which it can be influenced by economic policy. It is commonly believed that, since national product is perhaps our best measure of economic achievement, we may best denne economic growth as a sustained inerease in aggregate national product or national income. Studies of economic growth almost invariably treat longterm change in the national product as the most basic index of national economic achievement and associate other variables with it as causes and effeets. Whereas the theory of trend movements helps to explain the rising movement of certain economic variables; it also determines the influence of such factors as population growth. Perhaps it also creates a better foundation for the analysis of economic dynamics. Abramovitz (1959) has emphasized the need for empirical studies that can give meaning to secular changes in the rate of growth of national product or national income.
VARIANCES AND STABILITY IN LINEAR DYNAMIC MODELS
Authors: van de Panne C.
Published: July 2006

A derivation is presented of the variance‐covariance matrix of endogenous variables in a linear dynamic system, given the variances and covariances of exogenous variables and disturbances. A general formulation of the stabilization problem for linear systems is proposed, using as a measure for stability a function variances and covariances of the endogenous variables.
A NOTE ON APPROXIMATION OF FULL INFORMATION MAXIMUM LIKELIHOOD ESTIMATES
Authors: Ramasastry M. V.
Published: July 2006

Summary

The method of scoring introduced by R. A. Fisher and C. R. Rao is useful to find solutions from complicated maximum likelihood equations. The purpose of this note is to indicate the implications of this technique in econometrics. For example the linearized maximum likelihood LML estimates of Rothenberg and Leenders (1) are only special values of Rao's estimates.
SIZE‐CHANGES AMONG BUSINESS FIRMS
Authors: Engwall Lars
Published: July 2006

Summary

This paper deals with transition‐matrices as a tool to describe the changes within size‐distributions of firms. In a theoretical section the estimation technique is discussed and further uses of the matrices are described. The latter means derivation of steady‐state distributions and measures for mobility.

The theoretical part is followed by another section, where empirical results are given. The approach has been applied to data concerning the largest firms with respect to sales within five areas, viz.:

The United States

Countries outside the United States

Europe

Scandinavia

Sweden.

In this section it can be seen that the probability of staying within a certain class is the largest followed in size by the probability of a transition to an adjacent class. Other probabilities are mostly estimated as zero.

During the investigated period 1956–1965 movements towards a steady‐state can be seen. There still exist, however, some differences between actual and theoretical distributions.

The average time spent in the different classes varies about 10 years. An index for mobility shows values, which mean mobilities, which are 10–20% of the mobilities of a perfect mobile industry. The indices follow fairly well a ranking based on Gini's coefficient of concentration.

It is most necessary to obtain further knowledge concerning the process. Thus one extension of this study would be a study using the approach of Monte‐Carlo simulation.
THE OPTIMAL CAPACITY EXPANSION POLICY FOR A MULTI‐PRODUCT FIRM UNDER A DYNAMIC FRAMEWORK *
Authors: Sengupta J. K. , Sen A.
Published: July 2006

Abstract.

An optimal capacity policy model for a multi‐product firm is constructed in a dynamic programming framework, which assumes the following: all current inputs have a perfectly competitive market, all capital resources are limitational, though capable of being utilized in more than one production line and there is a marketing cost function of a specified type for the outputs sold.
SPECIFICATION OF COMMODITY SUBSETS FOR SEPARABLE UTILITY FUNCTIONS
Authors: Kraft Arthur , Kraft John
Published: July 2006

The present paper differs from previous works since it is concerned with the conditions under which commodities are grouped in separable utility functions. The conditions are derived theoretically and then tested empirically. This provides a solid basis under which commodities can he properly grouped without employing an a priori reasoning process that could result in misspecification of the utility function. The conditions are derived and tested for three principal types of separable utility functions: utility tree, block additivity, and additivity. In the case of directly additive utility functions, the goods are treated as Hicksian composite commodities rather than specific goods. The general conditions for grouping apply to directly additive functions so that each composite commodity is treated as belonging to a separate subset. The data for commodity expenditure in constant dollars and prices of commodities are taken from The National Income and Product Accounts of the United States, 1929–1965, Statistical Tables, Table 2.6 and Table 8.6 respectively. The conditions necessary for specification of the commodity subsets are derived from the properties of each Separability situation and are empirically tested in an iterative fashion similar to the cochranc‐orcutt autoregressive technique.
SCARCE NATURAL RESOURCES AND INCOME DISTRIBUTION*
Authors: Montani Guido
Published: July 2006

: Introduction. SECTION I: Differential
rent ‐ 1. The production system with lands of different qualities; 2. Relations between the rates of profit, wage and rent; 3. Order of fertility and income distribution. SECTION II: Rent on land of a single quality ‐ 1. The production system with land of the same quality; 2. Relations between the rates of profit, wage and rent; 3. Possibility of an upward‐sloping wage‐profit frontier
A GENERALIZED MODEL FOR THE CES‐VES FAMILY OF PRODUCTION FUNCTION*
Authors: Tsang Herbert H.
Published: July 2006

Abstract

Four types of relationships constituting an economic model of production are specified in order to deduce the mathematical form of the production function. A technical equation restricts the production function to be a member of the homogeneous class. A behavioral equation describes the profit‐maximizing character of the producer. An empirical equation attempts to explain the average productivity of labor. Finally a demand function reflects the structure of the output market. The derived production function is seen to fall into the widely discussed CES‐VES family. The economic model thus in a sense provides a theoretical basis for the CES‐VES production functions. The economic properties of the derived production function are also studied in detail and alternative estimation procedures are reviewed critically.
THE OPEN‐ECONOMY PHILLIPS CURVES AND THE WELFARE GAINS FROM TRADE*
Authors: Ip Pui Chi
Published: July 2006

By postulating convex‐to‐origin Phillips curves and a concave‐to‐origin indifference map in the unemployment‐inflation space, we find that, the pure gains from trade aside, the post‐trade equilibrium under flexible exchange rates cannot be superior to that under autarky because a variable exchange rate generates no countercyclical forces. Under a fixed exchange rate regime, a country can be better off (worse off) after trade than before trade if the foreign rate of inflation is lower (higher) than that prevailing in autarkic equilibrium. If countries co‐operate and jointly reduce their rates of inflation, they can improve their welfare and yet maintain balance of payments equilibrium. If the rate of profit is a variable determining the position of the Phillips relationship, international trade improves the welfare of the labour‐abundant and worsens that of the capital‐abundant country.
A MODEL OF THE FIRM'S DEMAND FOR MONEY UNDER UNCERTAINTY
Authors: Rozek R. P. , Wu S. Y.
Published: July 2006

Recently, economists have centered their explanation of the demand for money balances on the transactions motive. The roles of precautionary and speculative motives remain ambiguous. The purpose of this paper is to fill this void. We develop a static model of the individual firm's demand for money in which prices and the interest rate are assumed to be random variables. In this model, the entrepreneur must decide his money holdings ex ante, and both capital and labor inputs are determined ex post. The demand for money corresponding to the various motives is a consequence of analyzing the ex ante profit function. Implications for monetary policy are derived from this analysis.
THE EXPLORATION AND PRODUCTION OF A LONG‐LIVED NATURAL RESOURCE(*)
Authors: Stewart Marion B.
Published: July 2006

This paper, a synthesis of previous work by the author, examines both the exploration and the production decisions of a firm in a durable natural resource industry, and finds that monopoly power leads to a slowing in the rate of extraction and a reduction in the exploration rate. Thus in a durable resource industry such as gold, the effect of monopoly is multi‐plied: less of the resource will be « discovered », and the stock of the re‐source will be extracted more slowly so that early‐period prices may be kept above the competitive level.
THE WAGE‐PROFIT RELATION WITHOUT CONSTANT RETURNS(1)
Authors: Mainwaring L.
Published: July 2006

It is shown that well‐known propositions of Sraffa concerning the relation between the wage and the rate of profits are not valid without the assumption of constant returns or some other restrictive assumption. The paper recognises a distinction between classical and marginalist methods of analysis but disputes the view that the pursuit of the classical method in value theory obviates the need to assume constant returns. It is argued, on the contrary, that the assumption of constant returns is necessary to the fruitful application of the classical method.
HETEROGENEOUS LABOUR AND ≪CLASSICAL≫ THEORY
Authors: Steedman Ian
Published: July 2006

That labour is heterogeneour is obvious, as is the significance in many dimensions, of that heterogeneity. Yet the real‐world importance of heterogeneous labour is not always reflected in economic theory, “classical” or other: the purpose of this paper is therefore to develop somewhat further the brief discussions of heterogeneous labour contained in my Marx after Sraffa (1977, pp. 88‐94, 18‐9)1. The paper will be divided into two parts. The first is formal and will be non‐controversial — if it contains no logical errors. In the second, however, some wider issues — involving matters of interpretation — will be raised, to encourage discussion.
ON A GENERALIZED VON NEUMANN MODEL
Authors: Salvadori Neri
Published: July 2006

The main aim of the paper is to give a constructive proof to an existence theorem concerning the generalized von Neumann model à la Morishima in a particular case which arises by dropping and replacing a strong continuity assumption of Morishima, whose existence theorem does not work (as the appendix example shows) when all of Morishima's other assumptions but that continuity assumption hold.

In particular, the paper proves that the generalized von Neumann model à la Morishima has a solution when all people consume the same commodities in the same proportions, with a substitution effect equal to zero, even if some commodities are never consumed and not all processes require labour. Moreover, it shows a way to construct a solution by solving a Linear Complementarity Problem with Lemke's complementarity pivot algorithm.
INFORMATION AND INTERRELATIONS BETWEEN THE DEALER AND PRIVATE MARKETS
Authors: Kim Jae‐Cheol
Published: July 2006

A competitive equilibrium model of the dealer and private markets is constructed where buyers in the private market obtain some but imperfect information about quality by observing some characteristic of the good while those in the dealer market have perfect information. Under some conditions, there may exist two equilibria. It is shown that one equilibrium is unstable and Pareto inferior to the other. Comparative static analysis are made in the Pareto superior equilibrium to conclude that the size of the dealer market is inversely related to the amount of information about quality contained in the observable characteristic.
THE EFFECT OF THE TRANSFER IN A TWO‐CLASS MODEL
Authors: Kawano Masamichi
Published: July 2006

Hamada showed that the income transfer from capitalists to workers does not increase the income of workers in the long run. His result is based on the nonlinearity of the saving functions. If the saving function of capitalists is concave (or convex), the maximum of workers' income is attained by the positive (or the negative) transfer. There exists a case where the after‐tax income of capitalists increases by a positive transfer. The global maximum of capitalists' income is attained when workers' income is all transferred to capitalists, while the global maximum of workers' is attained when capitalists enjoy positive income.
SHAPE OF A WAGE‐PROFIT CURVE, SOME METHODOLOGY AND EMPIRICAL EVIDENCE
Authors: Petrović P.
Published: July 2006

Linear wage‐profit curve supports quite diverse theoretical propositions: Ricardo's treatment of distribution apart from theory of value, Marx's equivalence of unpaid labour and appropriated profits and neoclassical parables in capital theory. It has been known that the curve should deviate from a straight line, but an expression derived in this paper indicates that the deviations might be insignificant in any actual economy. Empirical evidence obtained, employing the Leontief‐Sraffa model with durable capital, strongly supported the previous conjecture. The evidence refers to a single economy, while its general relevance is approved by comparisons with other economies.
CHOICE OF TECHNIQUES AND THE THEOREM OF OKISHIO
Authors: Warskett G.
Published: July 2006

This paper discusses the sufficiency of the »viability condition« of Okishio's theorem for signalling profit improving choice of techniques. Some counter‐examples are given for linear technologies with joint production. Technological change which conform to the prediction of the theorem ‐ choices made on the basis of the viability condition lead to higher average rate of profit ‐ is called regular, and sufficient conditions for regularity are specified.
NORMS, SOVEREIGNTY AND REGULATION
Authors: Cowling Keith , Naylor Robin
Published: July 2006

In orthodox economic theory individuals are modelled as rational economic consumers maximising their utilities given their preferences and the market prices of the commodities over which preferences are defined. This paper challenges the validity of such an approach. Commercial forces originating in the objectives of producers are likely to exert an influence on preferences and the choice set open to the individual is restricted by the requirements of the market system. Once it is established that the wants to which production is responding are determined, at least in part, within the system of production, then the whole structure of the system is invertible: adjustments can be brought about just as easily by the manipulation of preferences as by the reallocation of the budget by the individual. One implication of our analysis is that there are likely to be a wide range of contexts in which conventional market structures do not provide the most efficient form of resource allocation. The paper concludes by drawing out the implications of the analysis for the design of industrial policy.
PENALTIES WITHIN THE MORAL HAZARD PROBLEM
Authors: Macho‐Stadler Inés
Published: July 2006

This paper exhibits some necessary and sufficient conditions for mechanisms embodying penalties to approach the first best solution in moral hazard problems.
MONEY AND GROWTH IN A RICARDO‐VON NEUMANN‐LEWIS WORLD
Authors: Rao Milind
Published: July 2006

It is well known (Tobin (1965)) that in a monetary economy with full employment the monetary growth rate uniquely determines the steady‐state capital intensity of the economy. This paper demonstrates that portfolio balance in a Ricardo‐Von Neumann‐Lewis world implies that the steady‐state growth rate of the economy (the rate of capital accumulation) is uniquely determined by the rate of monetary growth. An increase in the monetary growth rate increases the steady‐state inflation rate which, through its effect on savings, increases the equilibrium growth of the economy.
RICARDO'S THEOREMS ON RELATIVE PRICES A NOTE ON PROF. MORISHIMA
Authors: Plasmeijer Henk W.
Published: July 2006

It is argued that Prof. Morishima's treatment of Ricardo's theorems concerning relative price movements following changes in income distribution cannot count as a reasonable interpretation of Ricardo. Firstly, Ricardo linked up these price movements not only to diverging capital intensities, but also to diverging depreciation rates. Secondly, Prof. Morishima's proof seems to depend on a technology specification which is also characteristic of Sraffa's nonbasic commodity. A more reasonable interpretation seems to be that Ricardo tried to investigate a number of modifications on the ‘principle’ that relative prices are regulated by labour values. It is shown that Ricardo's theorems were, as first approximations, not at all bad.
REDUCIBLE VON NEUMANN MODELS AND UNIQUENESS
Authors: Móczár József
Published: July 2006

This paper can be regarded as a result of basic research on the technological characteristics of the von Neumann models and their consequences. It introduces a new taxonomy of reducible technologies, explores their key distinguishing features, and specifies which ones ensure the uniqueness of von Neumann equilibrium. A comprehensive comparison is also given between the familiar (in)decomposability ideas and the reducibility concepts suggested here. All these are carried out with a modern approach. Simultaneously, the reader may also acquire a complete picture of and guidance on the fundamental von Neumann models here.
INTERNAL FINANCE AND MONOPOLY POWER IN CAPITALIST ECONOMIES: A REFORMULATION OF STEINDL'S GROWTH MODEL
Authors: Dutt Amitava Krishna
Published: July 2006

This paper develops a formalization of the model of growth developed by Steindl in chapter XIII of his Maturity and Stagnation in American Capitalism in order to examine the interaction of real and financial factors in capitalist economies. It will look at the short‐and long‐run behaviour of the economy in which firms have monopoly power, hold excess capacity, and finance a part of their investment spending out of internal savings. The analysis shows the possibility of instability in the economy due to financial and goods market considerations and their interaction, and considers the implications of financial factors for the long‐run effects of the rise of oligopoly.
PRICE DETERMINATION IN POLYPOLISTIC MARKETS AND EXCHANGE RATE CHANGES
Authors: Tamborini Roberto
Published: July 2006

A number of extensions of monopolistic competition to international trade have proved able to account for observed deviations from models of perfect competition. New fundamental research has questioned the concept of perfect competition by investigating firms’ decisions directly, with results quite similar in spirit to Kahn's idea of a “polypolistic market”. This paper follows this latter route; it presents a model of a firm's price and output decisions under uncertainty which produces the typical behavior of monopolistic competition even in a homogeneous industry. The model yields insights into the issue of the price and quantity effects of nominal changes in exchange rates.
WAGE FLEXIBILITY AND THE STABILITY ARGUMENTS OF THE NEOCLASSICAL SYNTHESIS
Authors: Flaschel Peter , Franke Reiner
Published: July 2006

This note fills a lacuna in the neoclassical synthesis and completes its dynamic disequilibrium processes by including adjustments of the money wage rate in response to excess demand on the labour market. A Walrasian and a Keynesian variant are distinguished. While in the first case local asymptotic stability is always ensured, the equilibrium is unstable in the Keynesian case if money wages are too flexible relative to the adjustment speeds on the product and money markets.
ENTRY AND EXIT OF FIRMS AND UNDEREMPLOYMENT EQUILIBRIUM
Authors: Ohyama Michihiro
Published: July 2006

This paper extends the standard Keynesian model of aggregate demand and supply allowing for imperfect competition, variable returns to scale, and entry and exit of firms. It distinguishes three phases of macroeconomic equilibria, stagnant, expansive and contractive, according to whether the number of firms is fixed or endogenously determined by the position of the aggregate demand curve. Using this model we show that a large shift in the aggregate demand affects the structure of the economy irreversibly and that the real wage or labor productivity may move procyclically rather than anticyclically. We also elucidate the asymmetric effects of fiscal and monetary policies on the entry of firms and employment.
MACROECONOMIC AND LABOUR MARKET POLICIES FOR EMPLOYMENT GENERATION IN SOUTH AFRICA
Authors: Padayachee Vishnu , Zarenda Harry
Published: July 2006

The recent advent of political democracy in South Africa has brought into sharp focus those macroeconomic and labour policies designed to combat unacceptably high unemployment levels, that have escalated steadily to present estimates of approximately 40 per cent of the Economically Active Population. The continuing implementation of neo‐liberal orthodox policies, the authors maintain, will aggravate the problem. An alternative theoretical framework containing elements of a neo‐Ricardian, post‐Keynesian approach and based on research work of the Macroeconomic Research Group (MERG) is advocated. This approach focuses on State‐led, demand‐inducing policies, while not neglecting the supply side of the labour market in South Africa.
Scalp immersion proxigraphy (SIP): an improved imaging technique for phototrichogram analysis*
Authors: Van Neste Dominique J.J. , Dumortier Marianne , de Brouwer Bernadette , De Coster Walter
Published: July 2006

In recent years we have developed the concept of using automated computer assisted image analysis (ACAIA) for hair growth evaluation. The success of this sophisticated technology depends on the quality of the original images that are fed into the mainframe of the image analyzer. Application of immersion oil onto the scalp site to be photographed appears to improve contrast between hair and scalp and has been named ‘Scalp Immersion Proxigraphy’ (SIP) in contrast to crude proxigraphy, that is close‐up photography without application of immersion oil, commonly used for phototrichogram analysis (PT). In this paper, we report evidence indicating that besides the qualitative improvement of the image, SIP also contributes to generate more accurate quantitative data. Such a conclusion was reached after hair growth variables were compared as a function of the photographic method (SIP vs. PT: 16 scalp sites; 5 balding subjects with clinical features consistent with androgen dependent alopecia). Each site was photographed with both techniques immediately after clipping and 48 h later. After image recording, we manually re‐processed the original pictures on transparencies. The original pictures and the transparencies were analyzed with ACAIA. There was a significant difference between methods in terms of evaluation of linear hair growth rate (LHGR; mm/day, n= 1332 bairs; Scheffe F‐test, P < 0.05). LHGR recorded with re‐processed SIP pictures (0.317 mm/day) was very close to that measured in our laboratory with micrometric methods. Distorted figures were generated by PT, leading to an underestimation of this parameter by 30% on average (0.224 mm/day). From previous studies, we knew that hair diameter correlates with linear hair growth rate: the thinner the hair fiber, the slower the growth rate. Both variables may be considered as additive in terms of severity of the alopecia. In this comparative trial of two phototrichogram techniques, we showed that linear hair growth rates can only be accurately estimated with SIP. Therefore, SIP should be used instead of crude proxigraphy when a global assessment of hair growth is to be monitored during clinical trials.
Dermatologic complications in renal transplant recipients versus uraemic patients under maintenance haemodialysis treatment
Authors: Sobh Mohamed A. , Hamid Ibrahim A. Abdel , Saad Hany M. , Eid Mahmoud M. , Razic Moheb M. Abdel , Elshamy Saed , Ghoniem Mohamed A.
Published: July 2006

One hundred and twelve renal transplant recipients and 40 patients with chronic renal failure undergoing maintenance haemodialysis were included in this study. Skin infections were the most common complication in renal transplant recipients (67.8%), with fungal infections being the most frequent (58%). Kaposi's sarcoma was found in three of our transplant patients (2.6%); no other skin tumors were observed in our cases. The second most frequent skin complication after infections was acne lesions (43.7%). On the other hand, pallor and dryness were the most common skin signs observed in uraemic patients; fungal infections were found in 15%. No skin neoplasms were found in the uraemic patients. In conclusion, skin infections and Kaposi's sarcoma are more common in renal transplant recipients than in uraemic patients under haemodialysis maintenance treatment.
Book Review
Authors: Coker Richard
Published: July 2006

Aids and other manifestations of HIV infection. Second Edn, 715 pp. Edited by Gary P. Wormser.
The HLA‐dermatosis connection
Authors: Nikkels A.F. , Nikkels‐Tassoudji N. , Piérard G.E.
Published: July 2006

A number of dermatological diseases are associated with distinct HLA types. These associations vary in different populations and ethnic groups. HLA determination can be related to different disease courses, various anatomical predilection sites and can be used as a diagnostic tool. However, the pathogenic role of HLA in susceptibility to specific dermatological diseases often remains unclear.
Schwannomatosis: dermatological relevance of an unusual form of neurofibromatosis type 2 (NF‐2)
Authors: Giménez‐Arnau Ana Ma. , Pou‐Serradell Adolf , Camarasa José G.
Published: July 2006

Four patients (three women and one man) suffering from multiple subcutaneous, painful, nodular tumors, diagnosed as multiple schwannomas of peripheral nerves (MCN), are presented. Two had radicular and VIII cranial nerve schwannomas associated with meningioma. The other two patients had only MCN. These cases were obtained from a prospective study of 30 patients with clinical criteria of neurofibromatosis (NF). The main inclusion criteria were pathological nuclear magnetic resonance (3). In 19 cases histological studies of internal neurological tumors were carried out. The four cases reported here presented fewer than six ‘café au lait’ spots. No hereditary background was demonstrated in these patients. Clinical and genetic investigations were insufficient to affirm that MCN or schwannomatosis is a new entity or a new form of NF. Sporadic cases of NF‐2 appear more often than has been admitted before and these non‐inherited forms appear to be in cases associated with MCN.
Use of the polymerase chain reaction to detect human papillomavirus type 16 in the cervical scrapes of Irish women with varying grades of cervical intraepithelial neoplasia
Authors: Birthistle K. , Kaminski G.Z. , McKenna P. , Hillary I.B.
Published: July 2006

Objective To assess the prevalence of HPV type 16 among Irish women with various degrees of CIN.

Subjects One hundred and five women with varying degrees of CIN, detected on prior cytological screening, and thirty‐two women with cytologically normal cervical smears.

Methods HPV 16 DNA was detected by the PCR technique, with controls against contamination.

Setting The colposcopy clinic in the Rotunda Maternity Hospital, Dublin, and the Virus Reference Laboratory, U.C.D., from October 1991 to April 1992.

Results HPV 16 DNA was detected in 66% of subjects with abnormal cervical cytology, and in 31% of those with normal cervical smears. A higher HPV 16 prevalence was found among those women with CIN III (74%), than among those with CIN I/CIN II (60%).

Conclusions The prevalence of HPV 16 among Irish women with normal cytology and CIN was similar to previous published studies from other areas, with a higher prevalence in those with abnormal cervical cytology. The usefulness of detection of HPV 16 as an indicator of a higher risk of carcinoma of the cervix is discussed.
Prevalence of gallstones in patients with erythropoietic protoporphyria in Northern Ireland
Authors: Todd David J. , Nevin Norman C. , Burrows Desmond
Published: July 2006

Erythropoietic protoporphyria (EPP) is characterized by increased red cell protoporphyrins, which are excreted solely in the bile. Since gallstones are thought to be more prevalent in EPP, all 17 patients in Northern Ireland known to have EPP had abdominal ultrasound scanning and tests of liver function. Asymptomatic gallstones were detected in one patient, an 11‐year‐old girl. Liver function was normal in all patients.
Italian multicentre trial comparing itraconazole with griseofulvin in the treatment of dermatomycoses. Preliminary results
Authors: Finzi A. , Cilli P.
Published: July 2006

The results of previous international studies have suggested that itraconazole is significantly superior to griseofulvin in the treatment of tinea corporis/cruris. The aim of our study was to compare the efficacy and tolerability of the two agents in a larger number of patients with dermatomycoses. This study is ongoing in 46 Italian Centers of Dermatology. From this total of 46 Centers, the patients of 16 Centers have been included for the “ad interim” analysis. One hundred and thirty‐four patients were randomized to treatment with either itraconazole 100 mg once daily for 15 days (73 patients) or griseofulvin 375–1000 mg daily for a mean of 17 days (61 patients). The patients were assessed clinically and mycologically before entering the trial, at the end of therapy and again 30 days after the end of treatment. Both groups showed a statistically significant improvement in desquamation, erythema and subjective complaints, with a trend in favour of itraconazole, despite the significantly shorter duration of treatment. Thirty days after the end of therapy, microscopic results were negative in 91.5% of the itraconazole group and 71.7% of the griseofulvin group. Cultures were negative in 80% and 65%, respectively. A significantly higher proportion of patients in the itraconazole group than in the griseofulvin group experienced both clinical and mycological recovery. One patient in the itraconazole group and three in the griseofulvin group reported adverse experiences. The preliminary results of this study show that itraconazole is well tolerated and more effective than griseofulvin. Furthermore, itraconazole demonstrated a more rapid action than griseofulvin.
Italian multicentre study with oral itraconazole in recurrent pityriasis versicolor, Preliminary report
Authors: Difonzo E.M.
Published: July 2006

Pityriasis versicolor is a common mycosis, characterized by frequent recurrences. Oral itraconazole is very effective in the treatment of this infection but there are no published studies on its prophylactic use. The purpose of our study was to assess further the efficacy of itraconazole in the treatment of recurrent pityriasis versicolor and to investigate its role in prophylaxis. In this ongoing study, 270 patients with recurrent pityriasis versicolor receive 200 mg itraconazole once daily for seven days. Those who experience clinical and mycological cure, sustained one month after the end of treatment, then enter the prophylactic phase of the study and receive either 200 mg itraconazole or two placebo capsules once a month for five months. Of the 48 patients who so far have received the full seven days' treatment with itraconazole, 31 have completed the first phase of the study. Complete clinical cure was achieved in 30(96%) and residual lesions persisted in one. Mycological cure was achieved in all. No adverse events were reported. Nine patients have now entered the prophylactic phase (five taking itraconazole and four placebo). No symptoms so far have reappeared in any of them. Oral itraconazole is a highly effective and well‐tolerated treatment for recurrent pityriasis versicolor. The role of itraconazole in prophylaxis is still undetermined pending completion of the study.
New therapeutic concepts in onychomycosis
Authors: Willemsen M.
Published: July 2006

Onychomycoses are common and difficult to treat. Ketoconazole and griseofulvin have been the mainstays of therapy but, even with prolonged courses, treatment often fails and relapse is frequent. Pharmacokinetic and previous clinical data have indicated that itraconazole may be more effective. The aim of our study was to evaluate the efficacy of a three‐month course of therapy with itraconazole and to determine the levels of itraconazole in the distal nail plate up to six months after the end of treatment. Thirty‐eight patients with onychomycosis of one or more toenails received three months’treatment with itraconazole 100 mg or 200 mg daily. Patients were followed up at monthly intervals for up to six months. Those in the 200 mg group received a further assessment at 18 months. Mycological cure was achieved in 13% and 19%, respectively, of the 100 mg and 200 mg treatment groups by the end of the three months’therapy. But, at the six‐month follow‐up, negative mycological results were obtained in 79% of the patients in the 200 mg group and in only 26% in the 100 mg group. Higher levels of itraconazole persisted in the nails after treatment with the 200 mg dose and there were few subsequent relapses among patients in this group. Itraconazole offers a new concept in the treatment of chronic and refractory fungal nail infections. A three‐month course of 200 mg daily produces a sustained mycological cure in most patients.
In vitro susceptibility testing of Pityrosporum ovale against antifungal, antiseborrheic and antipsoriatic agents
Authors: Nenoff Pietro , Haustein Uwe‐Frithjof
Published: July 2006

Objective The in vitro antimicrobial susceptibility of Pityrosporum ovale strains isolated from patients with seborrheic dermatitis was determined.

Method Minimum inhibitory concentrations of a total of 11 agents ‐ including true antifungal, antiseborrheic, and antipsoriatic drugs ‐ were measured.

Results Ketoconazole was the most effective of the tested antifungal agents against Pityrosporum ovale in vitro (minimum inhibitory concentration 0.1 μg/ml). The antiseborrheic agents zinc pyrithione and selenium disulfide showed a good in vitro efficacy against Pityrosporum with similar minimum inhibitory concentrations. Liquor carbonis detergens and dithranol were also able to inhibit growth of Pityrosporum ovale in vitro, but much higher concentrations were necessary.

Conclusion The tested agents commonly used against seborrheic dermatitis might exert their efficacy, at least in part, due to inhibition of Pityrosporum ovale.