bluuebunny/crossref_metadata_2025 huggingface dataset:
An explanation of the forward premium ‘puzzle’
Authors: Roll Richard , Yan Shu
Published: March 2003

Existing literature reports a puzzle about the forward rate premium over the spot foreign exchange rate. The premium is often negatively correlated with subsequent changes in the spot rate. This defies economic intuition and possibly violates market efficiency. Rational explanations include non‐stationary risk premia and econometric mis‐specifications, but some embrace the puzzle as a guide to profitable trading.

We suggest there is really no puzzle. A simple model fits the data: forward exchange rates are unbiased predictors of subsequent spot rates. The puzzle arises because the forward rate, the spot rate, and the forward premium follow nearly non‐stationary time series processes. We document these properties with an extended sample and show why they give the delusion of a puzzle.
An empirical analysis of corporate debt maturity structure
Authors: Ozkan Aydin
Published: March 2003

This paper provides an empirical investigation of the maturity structure of corporate debt. A dynamic model is estimated by GMM estimation procedure using data for an unbalanced panel of 429 non‐financial UK firms over the period of 1983–96. The evidence provides strong support for the hypotheses that firms with more growth opportunities in their investment sets tend to have more shorter‐term debt and firm size exerts a negative impact on debt maturity structure. The results also support the maturity‐matching hypothesis that firms match the maturity structure of their debt to the maturity of their assets. There is less support for the view that firms use their debt maturity structure to signal information to the market. We do not find evidence for a negative correlation between taxes and debt maturity. Our results also suggest that firms have long‐term target ratios and they adjust to the target ratio relatively fast, which might indicate that the costs of being away from target ratios are significant for firms.
The Impact of the Introduction of the Euro on Foreign Exchange Risk Management in UK Multinational Companies
Authors: Christie Eilidh , Marshall Andrew
Published: March 2003

One of the arguments in favour of the euro is that it will eliminate foreign exchange risk for companies in the euro‐zone. There could also be benefits for companies outside this zone, although their currency risk with the euro remains. This paper considers this, by examining the effect of the euro on the currency risk management of UK multinational companies (MNCs). Using the responses from a questionnaire and interviews we found that the euro, which is being widely used in UK MNCs, is generally favoured due to reductions in exchange uncertainty and costs of managing currency risk. Nonetheless, contrary to what would theoretically be expected, there was no exact relationship in the reduction in hedging activity accompanied by this reduction in risk. The majority of MNCs stated that their hedging activities would remain unchanged. The capacity of MNCs to benefit from reductions in risk and hedging depend on the proportion of non‐UK European trade, the industry sector and the ability to transfer risk down the supply chain. Finally, despite the reductions in currency exposure experienced by the majority of companies the euro will not encourage UK MNCs to expand international trade.
Why Do Firms Raise Foreign Currency Denominated Debt? Evidence from Finland
Authors: Keloharju Matti , Niskanen Mervi
Published: March 2003

This study examines the determinants of the decision to raise currency debt. The results suggest that hedging figures importantly in the currency–of–denomination decision: firms in which exports constitute a significant fraction of net sales are more likely to raise currency debt. However, firms also tend to borrow in periods when the nominal interest rate for the loan currency, relative to other currencies, is lower than usual. This is consistent with the currency debt issue decision being affected by speculative motives. Large firms, with a wider access to the international capital markets, are more likely to borrow in foreign currencies than small firms.
The New Basel Capital Accord: Making it Effective with Stronger Market Discipline
Authors: Benink Harald , Wihlborg Clas
Published: March 2003

In January 2001 the Basel Committee on Banking Supervision proposed a new capital adequacy framework to respond to deficiencies in the 1988 Capital Accord on credit risk. The main elements or ‘pillars’ of the proposal are capital requirements based on the internal risk‐ratings of individual banks, expanded and active supervision, and information disclosure requirements to enhance market discipline. We discuss the incentive effects of the proposed regulation. In particular, we argue that it provides incentives for banks to develop new ways to evade the intended consequences of the proposed regulation. Supervision alone cannot prevent banks from ‘gaming and manipulation’ of risk‐weights based on internal ratings. Furthermore, the proposed third pillar to enhance market discipline of banks’ risk‐taking is too weak to achieve its objective. Market discipline can be strengthened by a requirement that banks issue subordinated debt. We propose a first phase for introducing a requirement for large banks to issue subordinated debt as part of the capital requirement.
Towards a Legal Theory of Supranationality ‐ The Viability of the Network Concept
Authors: Ladeur Karl–Heinz
Published: March 2003

Though heated, recent debate on the German Federal Court’s ‘Maastricht’ judgment may be argued to have overlooked one of the primary problems posed by European integration: the lack of new concepts to describe the emerging supranational order. The following argues that a discussion which on the one hand has overstressed the significance of nationalism, and which on the other continues to seek a ‘normative’ basis for a collective European order, has failed to pay due regard to the practical–functional elements of historical nation–state building. Further, such analyses have failed to recognise that traditional, hierarchical, centralised and unitary states have long been transformed ‘from within’ through a process of pluralisation and fragmentation. Accordingly, the ‘network–concept’ is tested here not only for its viability as a basis for a new conceptualisation of a supranationality which is characterised by heterarchical and decentralised relationships, but also for its relevance for the re–conceptualisation of the political and legal structures of the traditional nation–state.
Teaching the Political Context of EC Law
Authors: Harlow Carol
Published: March 2003

Books reviewed in this article:

D. Dinan, Ever Closer Union? An Introduction to the European Community

J. Greenwood, Representing Interests in the European Union

F. Hayes‐Renshaw and H. Wallace, The Council of Ministers

S. Hix and C. Lord, Political Parties in the European Union

N. Nugent, The Government and Politics of the European Union

R. Dehousse, The European Court of Justice: The Politics of Judicial Integration

P. Craig and G. de Burca, EC Law, Text, Cases, & Materials

D. Chalmers and E. Szyszczak, European Union Law. Volume One. Law and EU Government
The Heteronyms of European Law
Authors: Maduro Miguel Poiares
Published: March 2003

Book reviewed in this essay:

Phelan, D. Rossa, Revolt or Revolution: The Constitutional Boundaries of the European Community
Fair Trial Rights and the European Community's Fight Against Fraud
Authors: Gleß Sabine , Zeitler Helge Elisabeth
Published: March 2003

The article surveys action taken by the European Community to combat fraud affecting its financial interests, focusing on the development of investigative authority granted to OLAF, the European‘Office Pour La Lutte Anti Fraude’ and its impact on the procedural rights of the alleged defrauder. It shows that the involvement of OLAF can be crucial for a national fraud investigation and subsequent criminal prosecution and that it meets the criteria set out by the Strasbourg organs for the applicability of Article 6 ECH. The article explores whether the legal sources governing the activities of OLAF or national—or rather, Community—law guarantee sufficient protection for the alleged defrauder and thus pay respect to principles arising from the rule of law in law enforcement. It is shown that general principles of Community law, which were mostly established in antitrust law, may provide a certain protection for the suspect, but may not protect him in all regards. It is thus argued that, in the long run, it will be necessary to provide special fair‐trial rights which offer protection to alleged defrauders from those infringements arising out of the specific features of a Community investigation.
Delegation of Regulatory Powers in a Mixed Polity
Authors: Majone Giandomenico
Published: March 2003

It is a common place of academic and political discourse that the EC/EU, being neither a parliamentary democracy nor a separation‐of‐powers system, must be a sui generis polity. Tocqueville reminds us that the pool of original and historically tested constitutional models is fairly limited. But however limited, it contains more than the two systems of rule found among today's democratic nation states. During the three centuries preceding the rise of monarchical absolutism in Europe, the prevalent constitutional arrangement was ‘mixed government’—a system characterised by the presence in the legislature of the territorial rulers and of the ‘estates’ representing the main social and political interests in the polity. This paper argues that this model is applicable to the EC, as shown by the isomorphism of the central tenets of the mixed polity and the three basic Community principles: institutional balance, institutional autonomy and loyal cooperation among European institutions and Member States. The model is then applied to gain a better understanding of the delegation problem. As is well known, a crucial normative obstacle to the delegation of regulatory powers to independent European agencies is the principle of institutional balance. By way of contrast, separation‐of‐powers has not prevented the US Congress from delegating extensive rule‐making powers to independent commissions and agencies. Comparison with the philosophy of mixed government explains this difference. The same philosophy suggests the direction of regulatory reform. The growing complexity of EC policy making should be matched by greater functional differentiation, and in particular by the explicit acknowledgement of an autonomous ‘regulatory estate’. At a time when the Commission aspires to become the sole European executive, as in a parliamentary system, it is particularly important to stress the importance of separating the regulatory function from general executive power. The notion of a regulatory estate is meant to emphasise this need.
Case Based Diagnosis and Repair of Software Faults
Authors: Hunt John
Published: March 2003

Software debugging (the diagnosis and repair of faults in software) can be a difficult and time consuming problem. In many cases a problem which can take an inexperienced developer a long time to correct can be quickly identified and corrected by a more experienced one. This is often because they have seen that problem (or a similar one) before. In this paper we present a system (called WATSON) which automatically constructs an explanation of the fault and a repair strategy from a library of partial repair models. This system exploits Case Based Reasoning (CBR) technology to perform this construction. The paper introduces the concepts behind CBR before going on to describe the components of the WATSON system. It then illustrates, by example, how WATSON constructs a diagnosis and repair model from the case databases.
A Bibliography of Genetic Algorithm Business Application Research: 1988–June 1996
Authors: Wong Bo K. , Bodnovich Tom A.
Published: March 2003

The purpose of this research is to present a comprehensive bibliography of genetic algorithm application research in business. Ninety‐seven genetic algorithm papers (98 applications) are identified through the exhaustive literature searches. A classification of these articles by application area reveals that genetic algorithms are being used for a diverse range of corporate functional activities, particularly in the areas of production/operations and information systems. Information on the genetic algorithm development tool/language and the computer operating environment as reported in each article is included. Those journals which have published the most genetic algorithm business applications are also presented.
An interactive tool for knowledge base refinement
Authors: Diamantidis N. A , Giakoumakis E. A
Published: March 2003

We present a tool that combines two main trends of knowledge base refinement. The first is the construction of interactive knowledge acquisition tools and the second is the development of machine learning methods that automate this procedure. The tool presented here is interactive and gives experts the ability to evaluate an expert system and provide their own diagnoses on specific problems, when the expert system behaves erroneously. We also present a database scheme that supports the collection of specific instances. The second aspect of the tool is that knowledge base refinement and machine learning methods can be applied to the database, in order to automate the procedure refining the knowledge base. In this paper we examine the application of inductive learning algorithms within the proposed framework. Our main goal is to encourage the experts to evaluate expert systems and to introduce new knowledge, based on their experience.
An actor model for rule‐based systems
Authors: Boufriche‐Boufaïda Zizette
Published: March 2003

Our research originates from a study of the possibilities of integrating rules and objects in knowledge‐based systems. In the present work, we are interested in the interactionist perspective of an object. The stepwise reasoning of a diagnostic expert system, possibly involving subgoaling and interactions with the environment, can be easily codified by means of production rules over proposition literals. This set of rules can be graphically represented in a network manner denoting the relations between the rules. The individual nodes in the network can be expressed by means of autonomous objects and their relations, interpreted as possible communications between them. The objects are given a structure and a proper behaviour and cooperate for performing logical reasoning by means of forward and backward chaining inference processes. Therefore, designing this system implies addressing several basic issues such as inter‐object communications and their synchronization. The problem here is not necessarily to develop a great intelligence locally but to develop strong networks of good communicators. This approach belongs to the interactionist representation current, where objects are called actors. In principle, the actors may carry out computation in parallel and provide a conceptual foundation for massively concurrent object‐oriented paradigms. From this point of view, a system allowing for the simultaneous investigation of several rules and premises in the forward or the backward chaining would be significantly more efficient.
Comparing neural network approximations for different functional forms
Authors: Morgan Peter , Curry Bruce , Beynon Malcolm
Published: March 2003

This paper examines the capacity of feedforward neural networks (NNs) to approximate certain functional forms. Its purpose is to show that the theoretical property of ‘universal approximation’, which provides the basic rationale behind the NN approach, should not be interpreted too literally. The most important issue considered involves the number of hidden layers in the network. We show that for a number of interesting functional forms better generalization is possible with more than one hidden layer, despite theoretical results to the contrary. Our experiments constitute a useful set of counter‐examples.
Dynamic recurrent neural networks for a hybrid intelligent decision support system for the metallurgical industry
Authors: Ming Zhou Shang , Xu Li D
Published: March 2003

Knowledge‐based modeling and implementation of the various manufacturing processes represent an intensive research area. It is known that it is difficult to analyze the mechanisms of many industrial production processes and build dynamic models by employing classical methods for intelligent systems in manufacturing. This paper describes how to use dynamic recurrent neural networks to provide the model base of a hybrid intelligent system for the metallurgical industry with a quality control model. The hybrid system extracts the features of image sequences obtained through the vision detection subsystem and employs a dynamic recurrent neural network to assess and predict the product qualities to further coordinate the entire production process.
A hybrid system applied to epidemic screening
Authors: Xu Li Da , Li Ling X
Published: March 2003

Although many knowledge‐based systems (KBSs) focus on single‐paradigm approaches to encoding knowledge (such as production rules), human experts rarely use a single type of knowledge to solve a real‐world problem. A human expert usually combines a number of reasoning mechanisms. In recent years, rule‐based reasoning (RBR), case‐based reasoning (CBR) and model‐based reasoning (MBR) have emerged as important and complementary reasoning methodologies in the intelligent systems area. For complex problem solving, it is useful to integrate RBR, CBR and MBR. In this paper, a hybrid epidemic screening KBS which integrates a deductive RBR system, an inductive CBR system and a quantitative MBR system is proposed. The system has been tested using real epidemic screening variables and data.
The design of supervisory rule‐based control in the operating theatre via an anaesthesia simulator
Authors: Mahfouf M. , Abbod M.F. , Linkens D.A.
Published: March 2003

The development of online drug administration strategies in operating theatres represents a highly safety‐critical situation. The usefulness of different levels of simulation prior to clinical trials has been shown in previous studies in muscle relaxant anaesthesia. Thus, in earlier work on predictive self‐tuning control for muscle relaxation a dual computer real‐time simulation was undertaken, subsequent to algorithm validation via off‐line simulation. In the present approach a supervised rule‐based control algorithm is used. The control software was implemented on the actual machine to be used in theatre, while another computer acted as a real‐time patient simulator. This set‐up has further advantages of providing accurate timing and also finite data accuracy via the ADC/DAC interface, or the equivalent digital lines. Also, it provides for controller design fast simulation studies compared to the real‐time application. In this paper, a new architecture which combines several hierarchical levels for control (a Mamdani‐type fuzzy controller), adaptation (self‐organizing fuzzy logic control) and performance monitoring (fault detection, isolation and accommodation) is developed and applied to a computer real‐time simulation platform for muscle relaxant anaesthesia. Experimental results showed that the proposed algorithm fulfilled successfully the requirements for autonomy, i.e. automatic control, adaptation and supervision, and proved effective in dealing with the faults and disturbances which are normally encountered in operating theatres during surgery.
The Impact of Mail Order on Subsequent Donations: An Experiment
Authors: Desmet Pierre
Published: March 2003

To charitable organisations, catalogue mail order firms offer an opportunity to expand both database and revenue. But an offer must be made very carefully since motivation for a donation (altruistic) seems incompatible with that of a purchase (economic). This research is designed to study the impact of sending a catalogue offer to actual donors on their subsequent donation behaviour. An experimental study with a French fundraising association shows that while mail order sales do indeed erode traditional public canvassing campaigns, this erosion nonetheless remains limited. It also reveals that traditional donors seem to be reluctant to use this commercial approach
Financial Accounting Reform in Flemish Municipalities: An Empirical Investigation
Authors: Christiaens Johan
Published: March 2003

This paper examines the cross‐sectional differences in the level of adoption and implementation of the financial accounting reform in Flemish municipalities. For the first time ever in Belgian governments a cash‐based budgetary accounting system is obligatorily being supplemented by an accrual accounting system. This study is based on an empirical analysis of municipal accounting practices and annual accounts 1995 in Flanders. The findings indicate that municipalities are coping with a lot of problems regarding transferability of business accounting and the study reveals significant factors explaining the level of compliance with the reformed accounting regulations.
Public Versus Private: The Empty Definitions of National Accounting
Authors: Jones Rowan
Published: March 2003

The policy‐making processes and the policies of the two international systems of national accounts are addressed, from the perspective of the accounting discipline. The particular measurement issue that determines which parts of an economy are public and which are private ‐ the reporting entity ‐ is discussed. The main conclusion is that the definition of the reporting entities is so vague as to be empty; in other words, national accounting's definition of what is public and what is private is empty.
The Construction and Presentation of Performance Indicators in executive Agency External Reports
Authors: Rutherford Brian A.
Published: March 2003

For a variety of reasons, factors affecting the understandability and comparability of performance indicators, and perceptions of their status, may differ from those applying in the case of profit‐seeking sector financial statements. This study examines the construction and presentation of performance indicators from the perspective of understandability, comparability and perceived importance. It identifies a number of aspects of reporting practice which may undermine these qualities.
Autopsy of Change: Contextualising Entrepreneurial and Accounting Potential in the NHS
Authors: Richardson Sue , Cullen John
Published: March 2003

Set in the context of New Public Management (NPM), this paper uses two NHS Pathology departments to provide a clearer picture of what reforms have really achieved. Contrasting illustrations of management processes, entrepreneurialism and accounting practices are provided in the case studies. The paper seeks to explain these differences and concludes that the impact of NPM, in terms of entrepreneurial management and accounting practices, is not just contingent upon the type of activity undertaken but also upon the ‘antecedent conditions of possibility’ embedded therein and the personality and competence of individuals managing front line change.
Decentralization and Reliance on the Controllability Principle in the Public Sector
Authors: Modell Sven , Lee Alina
Published: March 2003

Despite the growing devolution of budgetary responsibility in public sector organizations, little attention has been paid to the key notion of the controllability principle in this context. Drawing on neo‐institutional sociology, this paper explores the relationship between decentralization of decision‐making authority and reliance on the controllability principle (RCP) in the devolution of budgetary responsibility to the middle management level of a large Norwegian hospital. The results of a questionnaire survey only reveal a weak positive relationship between decentralization and RCP. Qualitative data are then used to probe further into the institutional factors impinging on this relationship, which have not been widely discussed in previous research. Our findings suggest that the possibilities of decentralization and thus enhancing managers’ control of major cost items, such as labour‐related expenses, are constrained by the actions of external as well as internal constituencies. RCP is also influenced by institutionally induced allocation practices, traditionally contributing to subjective, ex‐post adjustments of budgetary results but more recently manifested by the adoption of more objective allocations to demonstrate compliance with the cost containment ethos.
Accounting, Modernity and Health Care Policy
Authors: Lapsley Irvine
Published: March 2003

The National Health Service of the United Kingdom has been the subject of many reforms since it was established in 1948. This paper examines the process of reform in relation to significant changes to the NHS in recent decades. This reform process places ideas of the modern at the heart of these various initiatives. This paper also examines the intended or actual role of accounting in this modernisation process to examine its significance in the making of health care policy.
The Value of Deposit Insurance in the Presence of Interest Rate and Credit Risk
Authors: Anderson Ronald W. , Cakici Nusret
Published: March 2003

In this paper we employ the theory of the term structure of interest rates and the pricing of interest contingent contracts to determine the fair value of insurance for depository institutions. The balance sheet of a bank is taken to consist of long and short positions in various fixed income securities. Deposit insurance for the bank is a put option on the value of the assets. The value of deposits, assets, the implied exercise price of the put and the value of the put are all determined simultaneously as part of the same valuation solution. The approach is developed initially for a single‐state term structure. It is extended to incorporate credit risk on bank assets.

The most important policy implication is that for a bank whose assets are longer term than its liabilities and whose borrowers are not excessively leveraged the properly calculated, risk‐adjusted deposit insurance premia are increasing functions of the level of interest rates. Sensitivity analyses also treat such factors as the bank's deposit to asset ratio, duration gap, interest volatility, the volatility of assets backing the bank loans, and the bank's borrowers’ debt to equity ratio.
Liquidity, Labels and Medium‐Term Notes
Authors: Mullineaux Donald J. , Roten Ivan C.
Published: March 2003

We suggest that the medium‐term note market provides an excellent laboratory for exploring the relationships between yield, liquidity, and the label affixed to a financial instrument. Crabbe and Turner (1995) examined the liquidity issue and uncovered the counter‐intuitive result that issue size is unrelated to liquidity. Their study failed to examine a potential channel for a liquidity effect, however, in the form of multiple issues from a single, typically large, MTN registration filing. We find evidence that file size is significantly related to yield in a number of instances. Several other proxies for liquidity, such as frequency of issue, are also sometimes significantly related to yields. Contrary to Crabbe and Turner (1995), we find that labeling a security an MTN can have an impact on its yield. The label “note” also appears to matter for yield in some instances.
Body Language: The Somatics of Nationalism in Tamil India
Authors: Ramaswamy Sumathi
Published: March 2003

The modern nation resides, literally and symbolically, in the bodies of its citizenry. These bodies in turn constitute the national body politic. The female embodiment of the nation is frequently the ground on which the two bodies intersect. This essay explores this intersection through the analytic of the ‘somatics of nationalism’, with examples drawn from Tamil‐speaking India in this century. Through an analysis of how images of the shared womb, blood, milk, and tears of the female embodiment of the nation were circulated by nationalist narratives, the author suggests that these were somatic building blocks with which the nation and its constituency were constructed in southern India. In turn, Tamil citizens were called upon to demonstrate their loyalty by putting their own bodies on line, shedding their own blood and that of their enemies, for the sake of the embodied nation. Nations and citizen‐patriots may relate to each other politically, materially and emotionally, but they also do so somatically.
Paradoxes of Gender: Writing History in Post‐Communist Russia 1987–1998
Authors: Korovushkina Irina
Published: March 2003

The paper analyses the main trends in Russian historiography concerning women's history and gender studies between 1987 and 1998. These developments are evaluated in the context of social, political and cultural changes in Russia in the period of transition from socialist to market economy. The paper argues that, despite the liberalisation of political and intellectual life in Russia following Gorbachev's reforms, the research on gender in the past years and present‐day Russia is impeded, on the one hand, by the economic strains on Russia's academic community, which faces a Darwinian struggle for survival, and, on the other, by the persistence of dominant paradigms of history writing inherent in the Soviet ideology. However, the positive developments in the field of gender studies, which should be seen in the context of general regeneration of historical discipline from the ideological constraints, must not be neglected. The paper also draws attention to the field of gender studies and religion, focusing on the outcomes of recent research on Old Believer communities in nineteenth‐century Russia.
Citizenship as Contingent National Belonging: Married Women and Foreigners in Twentieth‐Century Switzerland
Authors: Studer Brigitte
Published: March 2003

The relationship between marriage and citizenship was implicit in the practices of most democratic states during the nineteenth and early twentieth centuries. The policy of depriving women who married foreigners of their citizenship was legally codified only with the process of ‘nationalisation’. In the particular case of Switzerland, the practice was not codified until 1941, at the height of the movement of peoples unleashed by the Second World War, and it was only fully dismantled in the 1990s. This article analyses the discursive webs linking gender construction, nation state and legal system during the controversies surrounding the marriage rule in Switzerland between 1917 and 1952. It explores the formative role of gender in the process of delineating the practices of inclusion and exclusion and in shaping the internal boundaries within the nation between foreigners and those who belonged: citizens.
The ‘Feminization’ of Management? Issues of ‘Sameness’ and ‘Difference’ in the Roles and Experiences of Female and Male Retail Managers
Authors: Tomlinson Frances , Brockbank Anne , Traves Joanne
Published: March 2003

Explanations of women’s poor representation in senior management usually emphasize differences between women and men managers’ experiences, circumstances and aspirations, and the gendered character of organizational structures and processes. Whilst these may all disadvantage women, some writers have suggested recently that women managers may differ in style and orientation in ways particularly appropriate for today’s developing organizations. This paper explores issues of ‘sameness’ and ‘difference’ between women and men managers in retailing.

Whilst both male and female store managers wanted to downplay gender differences and adopt a ‘gender neutral’ approach, they also associated a number of advantages and disadvantages with being a woman manager in certain contexts. Rapid sectoral change had caused companies to reassess the desired attributes and competences of managers; associated both with an enhanced valuing of ‘feminine’ qualities and with a more ‘objective’ and ‘clinical’ approach to assessment. Despite their equal numbers at entry points women remained poorly represented at senior levels, suggesting that subjective and informal processes were important determinants of women and men’s progress. Given management is inherently a process enacted by individual managers within a social context the extent to which it can be conceived in gender neutral terms is questioned since individuals are inevitably discussed and identified in terms of their gender.
‘The Worst Thing is the Screwing’ (1): Consumption and the Management of Identity in Sex Work
Authors: Brewis Joanna , Linstead Stephen
Published: March 2003

This paper reviews qualitative data from academic research into prostitution, accounts from prostitutes themselves in the UK and Australia, and data from one of the authors' own research in New South Wales to analyse the ways in which female sex workers negotiate and construct their sense of themselves. This analysis is informed by the suggestion that, in the act of commercial sex, the prostitute's own body is being consumed by the client, which can be seen to place certain pressures on the relationship between sex workers' professional and personal identities. Our review suggests that individual workers' tactics for managing the contradictions of working as a prostitute and preserving self‐esteem are both similar and different, even within two broadly culturally commensurable contexts, and, moreover, that not all prostitutes necessarily want to maintain a strict divide between work sex and non‐work sex in every encounter. Moreover, even for those who do, the trials of maintaining the divide are considerable, as is the permeability of boundaries between work and intimate sex.
Through the Brick Wall, and the Glass Ceiling: Women in the Civil Service in Bangladesh
Authors: Zafarullah Habib
Published: March 2003

In Bangladesh the disparity between male and female representation in public administration is wide. Fewer women are employed in the civil service and they figure prominently in jobs set aside for them, while executive positions are generally occupied by men. Both systemic and subjective discrimination have created obstacles for women's access to public employment. They have to surmount enormous difficulties, first to gain entry into the civil service by thwarting social and cultural barriers and competing against well‐prepared and favoured male contestants, and then fight against a variety of odds to climb up the career ladder. Public personnel management is dominated by men whose perceptions and attitudes influence the development of personnel policies with a clear male bias. This has led to women's persistent discrimination in recruitment, placement, advancement, mobility and training. Women quotas are capriciously administered and subjective discrimination serves as a barrier in their career path. The promotion system is heavily inclined towards subjectivity and generally works against them. Most women come with high expectations and are committed to and always enthusiastic about their work and keen to advance their career, but circumstances work against them.
Promise or Problem? A Review of the Literature on Men Working in Early Childhood Services
Authors: Cameron Claire
Published: March 2003

Few men care for, or teach, young children. The 1991 UK census found that less than 1% of nursery nurses were male, while 14% of nursery/primary teachers were male. A similarly gendered picture can be found across European, North American and Australian studies of early childhood services, such as childcare centres and early education. The practice and prospect of men early childhood workers are both encouraged and resisted. The aim of this article is to review the international literature relevant to men working in early childhood services with pre‐school‐aged children. The case for male early childhood workers is reviewed: two pertinent themes from the related field of men working in non‐traditional occupations are highlighted. The review considers how these are applied to the specific context of men and early childhood services. Four aspects of the debate about men and early childhood work are examined: gender stereotypes; senior positions; gendered motives; and risks, allegations and protection. The literature suggests that men's careers have much to gain from working in early childhood services, but that, certainly in the Anglo‐American literature, a recurring theme is the representation of men early childhood workers as a source of suspicion.
A Theory of Migration as a Response to Relative Deprivation
Authors: Stark Oded , Wang
Published: March 2003

We model migration as a response to relative deprivation. We present a specific configuration of incomes in which the process of migration in response to relative deprivation reaches a steady state. However, for the general configuration of incomes we show that it is impossible to prove the existence of a steady state. We study the social welfare implications of the two cases and show that if individuals are left to pursue their betterment, the resulting state falls short of the best social outcome. We present several implications of the model including federalism and the demand for secession.
Pareto-Improving Redistribution and Pure Public Goods
Authors: Cornes Richard , Sandler Todd
Published: March 2003

In the pure public good model, the Nash equilibrium associated with one initial income distribution may Pareto dominate the equilibrium associated with another distribution of the same aggregate income. We explore this possibility and examine its implications for Pareto-improving policy intervention by undertaking a comparative static analysis of Pareto-improving tax-financed increases in pure public good provision. Under some circumstances, a government can engineer policies that raise public good provision while increasing the well-being of contributors and noncontributors. Crucial factors promoting this outcome involve a large number of noncontributors, a high marginal valuation for the public good by non-contributors and a large aggregate response of contributors to changes in their income.
Union Wage Setting and Capital Income Taxation in Dynamic General Equilibrium
Authors: Aronsson Thomas , Löfgren Karl-Gustaf , Sjögren Tomas
Published: March 2003

This paper concerns the effects of capital income taxation in a dynamic general equilibrium framework with union wage setting, when households face taxes related to both labor and capital. One purpose is to characterize the general equilibrium solution. Another is to study the effects of increased capital income taxation - in terms of the responses in real wages, employment, capital stock, output and consumption - and relate these behavioral responses to the overall tax structure. We also derive a cost-benefit rule for the purpose of analyzing the welfare effects of a small shift from labor income taxation to capital income taxation.
Partially Irreversible Investment Decisions and Taxation under Uncertainty: A Real Option Approach
Authors: Sureth Caren
Published: March 2003

The paper applies contingent claims analysis in a real option investment model in order to investigate taxation's influence on investor's decisions under uncertainty. The results show the distortion from realistic-type tax systems, allow to identify a tax-induced paradox in option valuation for specific settings and acknowledge the property of investment neutrality of well-known `ideal' tax systems in the context of different degrees of irreversibility. Furthermore, it is clarified that the idea of risk-neutral valuation cannot be adopted by the real option approach in general.
The German Business Tax Reform of 2000: A General Equilibrium Analysis
Authors: Sørensen Peter Birch
Published: March 2003

In the year 2000 Germany enacted a major tax reform involving significant cuts in corporate and personal tax rates and a controversial change in the system of dividend taxation. This paper discusses the effects of the business tax reform on the German economy. The analysis is based on a detailed general equilibrium model of the OECD economy which is designed to illustrate the domestic and international effects of national tax policies. The simulations indicate that the German business tax reform will raise domestic economic activity and welfare, although the welfare gain will accrue disproportionately to households with a high ratio of property income to total income.
The Distributional Effects of International Fragmentation
Authors: Kohler Wilhelm
Published: March 2003

Economic globalization causes an increasing international fragmentation (disintegration) of value-added chains, whereby firms outsource components of production to foreign markets. There is a high level of concern about unwelcome distributional effects. This paper provides a theoretical treatment of this issue within a general Heckscher-Ohlin framework, allowing for an arbitrary number of goods, factors, and fragments. It shows how a fragmented production equilibrium is disturbed by lower costs of fragmentation, and it introduces the concept of effective prices of fragments to derive general results that characterize the distributional consequences of an increase in international fragmentation occurring simultaneously in several industries.
Victor Klemperer (1881‐1960): Reflections on his ‘Third Reich’ Diaries
Authors: Reiss Hans
Published: March 2003

In this article the ‘Third Reich’ diaries of Victor Klemperer, a ‘non‐Aryan’ professor of Romance languages at Dresden, are seen as a major literary achievement. Klemperer’s well‐written and incisive account brings to life the authentic record of the experiences of a victim of Hitler’s tyranny. We learn how the noose is more and more tightened around his throat and that of his ‘Aryan’ wife, whose steadfastness alone enabled him to survive, and how the Klemperers were able to escape the Gestapo only when in February 1945 an Allied air raid destroyed Dresden. The story of their high‐risk flight, too, is described. Klemperer’s attitude to his tribulations, to National Socialism, to Zionism, to the German people and to his fellow‐sufferers, is analysed, as is his academic career and achievement, for which Curriculum Vitae, his autobiography, and other diaries provide the relevant information. Klemperer’s transition from extreme nationalism to cosmopolitanism is examined, as is his firm conviction that Hitler’s racist ideology was absurd and that he was German to the core because of his commitment to German culture. His post‐1945 attempts to eradicate the National Socialist heritage and to resume academic work are depicted.

‘Keine Feder und keine Zunge kann das Elend ... beschreiben’
Talking Of Modernity: The Viennese ‘Vortrag’ As Form
Authors: Stewart Janet
Published: March 2003

As part of his project to define the meaning of modernity in fin de siècle Vienna, Adolf Loos (1870–1933) held lectures in cities throughout Europe. Although the lecture represented an important vehicle for the dissemination of his ideas and those of others, there is a lack of research into the lecture form in modernity. In the light of the fluid boundary between the lecture and the essay in Loos’s œuvre, this article extends Adorno’s analysis of the modernity of the essay form to the lecture, showing that both forms are embedded in the socio‐cultural location of the metropolis. It then investigates the nature of the distinction between the essay and the lecture, rejecting an explanation founded on the difference between text and speech in favour of a more complex model based on the ‘language‐game’ (Wittgenstein, 1953). This model allows exploration of self‐presentation (Goffmann, 1959) through the performance of the lecture and also affords us insight into the manner in which the lecture form encouraged interdisciplinary exchanges via the circulation of individuals in modernity (Simmel, 1958), providing the foundation for a more detailed analysis of the lecture as form.
Wolfgang Koeppen and the Bridge of Memory
Authors: Ward Simon
Published: March 2003

In this paper I examine the importance of memory and the image of the bridge in Wolfgang Koeppen’s later texts. As I show through detailed analysis of these works, the bridge principally denotes the temporary resolution of the paradox of past and present selves through the act of writing, but also suggests that the search for an identity with the past means an inability to exist productively in the present. I understand the bridge as a liminal space in anthropological terms, as a state between separation and re‐aggregation in a society. This has consequences for our understanding of Koeppen within the Federal Republic. I go on to compare Koeppen’s fragile, public spaces of remembrance with some of the central works of post war ‘Vergangenheitsbewältigung’ (Doktor Faustus, Die Blechtrommel, Billard um halb zehn, Deutschstunde), where the act of memory is carried out in a more private space removed from the present (studies, prisons, billiard rooms in hotels), but where the authors’ intention is often aimed towards a possible re‐definition of German identity in the post war situation: there is always the possibility of release from these environments. For Koeppen, liminality is a permanent condition.
Gläserne Brust, Lesbares Herz: Ein Psychopathographischer Topos Im Zeichen Physiognomischer Tyrannei Bei C. H. Spiess Und Anderen
Authors: Kosenina Alexander
Published: March 2003

Die Physiognomik als eine dem aufklärerischen Gebot universaler Transparenz und Offenheit gehorchende Kulturkritik ist inzwischen gut erforscht. Übersehen wurde dabei die schon zu Lavaters Zeit reflektierte Gefahr eines Umschlagens in die Tyrannei der Intimität. Physiognomik und Pathognomik drohen als ‘Ausspä‐hungskunst des Innern’ (Kant) zu einer Angstquelle erster Ordnung zu werden. Die gefü rchtete Gemütsspionage verdichtet sich in der schönen Literatur um 1800 zum Topos vom Fenster in der Brust, der hier anhand von Beispielen aus Texten von Goethe, Haken, Hoffmann, Klingemann, Klinger, Jean Paul, Schiller und Wagner verfolgt wird. Die differenzierteste Gestaltung erfährt das Bild aber in einer von Christian Heinrich Spieß’Biographien der Wahnsinnigen, die deshalb im Zentrum des Aufsatzes steht. Die Geschichte von Jakob W***r ist eine Psychopathologie der Scham, in deren Verlauf die Wahnvorstellung des Durchschautwerdens psychogenetisch entwickelt und von einem modernen, ‘verständigen’ Arzt behan‐delt wird.
Specialization in a Declining Industrial District
Authors: STABER UDO
Published: March 2003

Although flexible specialization is regarded as one of the hallmarks of industrial districts, its consequences for firm performance have not attracted much empirical attention. Using event‐history data on a complete population of textile‐clothing firms in Baden‐Württemberg in the Reutlingen (Germany) district from 1946 to 1993, this paper tests the proposition that specialized firms have a survival advantage over more integrated firms. Logistic regression models of failure probabilities show that, contrary to predictions derived from the district model, horizontally and vertically integrated firms have outlived more specialized firms. This study demonstrates the importance of dynamic research designs that incorporate information on strategic differences in a complete population of district firms, observed over an extended time frame.
Mergers in Higher Education: A Strategic Analysis
Authors: Rowley Gillian
Published: March 2003

This paper looks at recent mergers in higher education from a strategic management perspective. It is based on private research undertaken for a dissertation in completion of an MBA degree in 1996. The objectives of the study included the discovery and analysis of merger input factors and process variables, and an assessment of the contribution of both towards an effective outcome. The paper considers similarities and differences between mergers in higher education and as a whole. The process included structured interviews with senior management in two universities, which helped to develop a census survey of incidents involving an HE partner between 1987 and 1994. The incidents included mergers with further education colleges, other HE institutions, and colleges of health.