bluuebunny/crossref_metadata_2025_split huggingface dataset:
An International Trade Flow Model with Substitution: An Extension of the Gravity Model
Authors: BIKKER JACOB A. 
Published: September 2010

SUMMARYThe traditional gravity model has often been applied to international trade flows, especially to analyze trade creation and trade diversion. However, there are two fundamental objections to the model: it cannot describe substitutions between flows, and it lacks a cogent theoretical foundation. A newly developed model, the Extended Gravity Model (EGM), overcomes these objections. An empirical test strongly rejects the gravity model in favour of the EGM. The empirical analysis also proves that the gravity model widely overestimates the influence of the determinants of international trade. The EGM encompasses several models originating in regional economics, and can be applied usefully to a variety of subjects.
Falsificationism and Fallibilism as Epistemic Foundations of Economics: A Critical View
Authors: SALANTI ANDREA 
Published: September 2010

SUMMARYA new awareness of the major issues in the contemporary philosophy of science is one of the most remarkable features of current debates on economic methodology. Under the prevailing influence of POPPER'S writings, for example, it has been repeatedly maintained that POPPERian falsificationism ought to be regarded as the proper methodological framework for the appraisal of economic theories. More recently, it has also been argued we should see POPPERian fallibilism as the right epistemological perspective for approaching the problem of agents' behaviour in economic theory. This paper suggests that both such perspectives are doomed to failure: the former because of the heuristic nature of most economic theories, the latter for having overlooked the sharp contrast between ‘practical’ and ‘scientific’ rationality which is so typical of POPPERian epistemology. As often the case when methodology is concerned, criticism is easier than the provision of a sound alternative. We suggest, however, that a fallibilist economist and a falsificationist economic man could do economics a much better service than vice versa.
Capitalism Needs Risk‐, not Profit‐Sharing
Authors: GRUBEL HERBERT G. 
Published: September 2010

SUMMARYThe analysis of general risk‐sharing systems shows that profit‐sharing represents a special case of the more general systems. General risk‐sharing systems are more efficient than profit‐sharing systems in that they permit contracting parties to exclude or treat differently certain types of risk, especially those which are endogenous to the firm and its management and therefore subject to moral hazard. Most important, general risk‐sharing systems make it possible to exclude the returns from entrepreneurial risk‐taking from share arrangements with workers. This feature makes general risk‐taking consistent with the efficient operation of dynamic SCHUMPETERian market economies. Risk‐sharing systems can also be used to increase the efficiency of contracts between parties other than employers and employees and they are most likely to raise welfare when one of the contracting parties is the government.
Stagflation and Shortageflation: A Comparative Approach
Authors: KOLODKO GRZEGORZ W. , MCMAHON WALTER W. 
Published: September 2010

SUMMARYThis paper compares inflation and unemployment in western market economies with the repressed inflation and persistent shortages common in centrally planned economies. Stagflation and shortageflation, the latter defined as inflation accompanied by shortages, have much in common, and a similar, albeit inverse, theoretical structure is offered. Measures of stagflation for the western economies and development of a conceptual framework for measuring shortageflation for the eastern European socialist countries leads to a new ‘misery index' facilitating comparisons that are not as misleading as comparison only of inflation rates. They suggest that Italy and Poland have the most severe unhappiness index, and West Germany and East Germany have the lowest unhappiness index. Furthermore, where relative prices fail to reflect relative scarcities, then the failure of production to fully respond, and the time and other resources wasted through queuing, gluts, and other allocative inefficiencies can slow growth.
Inflation in Portugal, 1953‐1980: An Econometric Analysis
Authors: MORRISON RODNEY J. 
Published: September 2010

SUMMARYThis paper is a study of inflation in Portugal during the years 1953‐1980, a period marked by political revolution and the start of the country's modern economic development. The analysis is conducted within the context of the monetarist‐structuralist debate and employs, as explanatory variables, changes in expected prices, money, permanent income, exchange rates, and a vector of structural factors. Ordinary least squares and first‐ and second‐order autoregressive models, estimated by means of BEACH and MCKINNON'S full maximum likelihood technique, are the empirical methods used to investigate the sources of this inflation. In addition to the usual hypotheses, the question of economies of scale in money‐holding and the general equilibrium notion of a direct and proportional relationship between changes in money and prices are tested. The empirical results demonstrate that, despite political upheaval and government intervention in the market, neoclassical theory provides a reliable explanation of inflation in Portugal during the period considered.
An Expert at Work: Revisiting Jeremy Bentham's Proposals on Codification
Authors: Couyoumdjian Juan Pablo 
Published: September 2010

SUMMARYThroughout his life the English philosopher, economist and jurist Jeremy Bentham exhibited a marked interest in the design and the transfer of institutions. What is more, he was determined that his proposals illuminate the course of institutional design all over the world during his era. His work along these lines thus represents an obvious example of the work of a hands‐on expert on codification. In this paper we review the theoretical and practical activities undertaken by Bentham on the issue of codification and discuss them in the context of a rational choice model of the economics of expertise. While experts may claim to be concerned with the advancement of the public interest, it seems safer to consider them as economic agents just like the rest of us. The different activities undertaken by Jeremy Bentham in terms of offering proposals for codification throughout the world in the early 19th century represent a fascinating case‐study on the economics of expertise. Our examination of his activities in this sense will also allow us to discuss the contemporary relevance of Bentham's enterprise.
The Crumbling Hidden Wall:  towards an Economic Theory of Journalism
Authors: Fengler Susanne , Russ‐Mohl Stephan 
Published: September 2010

SUMMARYWhile economic theory has been applied to fields such diverse as religion, arts, law and crime in past years, journalism has until recently remained a blind spot of economic analysis. Media economists may have described media markets, but few economists so far have studied self‐interested journalists as actors in information‐attention markets. Frequently, it is still assumed that journalists serve the public, strive for objectivity in their news products, and seek to act as a ‘fourth estate’ in democracy. We consider this a ‘nirvana approach’ to journalism, and we seek to demonstrate instead that media content is severely influenced by rational journalists' and other communication professionals' self interests.In this paper we outline an Economic Theory of Journalism, referring to the few scholars of economics and of mass communication who have, explicitly or implicitly, used economic theory as an analytical tool to analyze journalism. We argue that economic concepts like principal‐agent theory, free‐riding, external effects, the tragedy of the commons, and the tyranny of small decisions can fruitfully be applied in order to provide more in‐depth explanations of often‐criticized developments in journalism such as the rising influence of PR and spin doctors on journalism, ‘pack reporting’, and ‘horse‐race journalism’. We conclude that an Economic Theory of Journalism will enable both economists and scholars of journalism to identify and predict more systematically the failures of journalism, the excesses and the blind spots of media coverage, and we claim that economics and mass communications need to observe and to inspire each other more closely in the future.
Necessity and Language: In Defence of Conventionalism
Authors: Glock Hans‐Johann 
Published: September 2010

AbstractKalhat has forcefully criticised Wittgenstein's linguistic or conventionalist account of logical necessity, drawing partly on Waismann and Quine. I defend conventionalism against the charge that it cannot do justice to the truth of necessary propositions, renders them unacceptably arbitrary or reduces them to metalingustic statements. At the same time, I try to reconcile Wittgenstein's claim that necessary propositions are constitutive of meaning with the logical positivists’ claim that they are true by virtue of meaning. Explaining necessary propositions by reference to linguistic conventions does not reduce modal to non‐modal notions, but it avoids metaphysical accounts, which are incapable of explaining how we can have a priori knowledge of necessity.
Moral Principles and Legal Validity
Authors: KRAMER MATTHEW H. 
Published: September 2010

AbstractTwo recent high‐quality articles, including one in this journal, have challenged the Inclusivist and Incorporationist varieties of legal positivism. David Lefkowitz and Michael Giudice, writing from perspectives heavily influenced by the work of Joseph Raz, have endeavored—in sophisticated and interestingly distinct ways—to vindicate Raz's contention that moral principles are never among the law‐validating criteria in any legal system nor among the laws that are applied as binding bases for adjudicative and administrative decisions in such a system. The present article responds to their defenses of Raz's Exclusive Legal Positivism.
Foreign Exchange Controls and the Parallel Market Premium
Authors: Fardmanesh Mohsen , Douglas Seymour 
Published: September 2010

AbstractThis paper studies the relationship between the official and parallel exchange rates, using cointegration, Granger causality, and reduced form methods on data from three Caribbean countries, Jamaica, Guyana, and Trinidad & Tobago, for the period 1985–93. Where the central bank follows a passive policy of infrequent and large adjustments to the official rate, changes in the official rate Granger causes changes in the parallel rate, and larger disparities prevail between the two rates. Foreign exchange controls, expansionary fiscal and monetary policy, and changes of government mostly have a positive effect on the parallel market premium, with foreign exchange controls exerting the strongest impact.
Estimating the Euro Effects on Trade with Propensity Score Matching*
Authors: Chintrakarn Pandej 
Published: September 2010

AbstractWe investigate the effect of the euro on trade among EMU members. Using various semi‐nonparametric methods based on matching, we find that the euro has a statistical and economic impact on trade. The results show that two countries sharing the euro currency trade somewhere between 9% and 14% more than other country‐pairs. In addition, we find no evidence of trade diversion due to the euro.
A Note on Strategic Trade Policy and Endogenous Quality Choice*
Authors: Toshimitsu Tsuyoshi , Jinji Naoto 
Published: September 2010

AbstractThis paper shows that some of the main policy implications in Park (2001) and Zhou, Spencer, and Vertinsky (2002) are sensitive to their assumptions on marginal production costs. The unilaterally optimal policy for investment towards quality improvement is analyzed, assuming constant and non‐negative marginal production costs under vertically differentiated international duopoly. If marginal production costs are different across firms, the optimal policy for each exporting country may be opposite in its sign from that shown by the existing papers under Bertrand competition. The policy reversal may also occur for the low‐quality exporting country under Cournot competition.
An Encompassing Test of Real Interest Rate Equalization*
Authors: Smallwood Aaron , Norrbin Stefan C. 
Published: September 2010

AbstractMuch confusion about the real interest rate connection amongst different countries may result from a narrow approach to analyzing the data. Using an encompassing methodology that accommodates many different types of times‐series processes, we find that real interest rates are mean‐reverting long‐memory variables. We show that cointegration methodology can often fail in this environment. Using a more general approach, we detect a limited connection between real interest rates across countries. In particular, Germany is connected with several European countries, but the US is connected only with Canada and possibly the United Kingdom.
Trade Creation, Replacement, and Destruction in Regional Trade Agreements: Micro‐level Evidence for the UK*
Authors: Girma Sourafel , Kneller Richard , Pisu Mauro 
Published: September 2010

AbstractEmpirical questions surrounding the effect of regional trade agreements on international trade have typically been answered with reference to macro‐level gravity equations. Prominent within this has been whether they create or divert trade. In this paper, motivated by the recent development of theories of export‐platform FDI, we use micro‐level data to explore the part of trade diversion that follows from FDI. Using information on acquisition FDI in the UK manufacturing sector between 1988 and 1998 we find evidence of trade creation, replacement, and destruction from FDI external and internal to the EU.
Financial Globalization, International Business Cycles and Consumption Risk Sharing*
Authors: Artis Michael J. , Hoffmann Mathias 
Published: September 2010

AbstractIn spite of two decades of financial globalization, consumption‐based indicators do not seem to signal more international risk sharing. We argue that the fraction of idiosyncratic consumption risk that gets shared among industrialized countries has actually increased considerably over the period 1980–2000 and, in particular, during the 1990s—from around 30 to more than 60 percent. However, standard consumption‐based measures of risk sharing—such as the volatility of consumption conditional on output or international consumption correlations—have been unable to detect this increase because consumption has also been affected by the concurrent decline in the volatility of output growth in most industrialized countries since the 1980s. First, the volatility of output at business‐cycle frequencies has declined by more than has the volatility of permanent fluctuations. Since consumption reacts mainly to permanent shocks, it appears more volatile in relation to current changes in output. This effect seems to have offset the tendency of financial globalization to lower the volatility of consumption conditional on output. Second, because the variability of permanent global shocks has also fallen, international consumption correlations have also generally not increased as financial markets have become more integrated.
Adjustment Costs, Inventories and Output
Authors: Danziger Leif 
Published: September 2010

AbstractThis paper analyzes the optimal adjustment strategy of an inventory‐holding firm facing price‐ and quantity‐adjustment costs in an inflationary environment. The model nests both the original menu‐cost model that allows production to be costlessly adjusted, and the later model that includes price‐ and quantity‐adjustment costs, but rules out inventory holdings. It is shown that the firm's optimal adjustment strategy may involve stockouts. At low inflation rates, output is inversely related to the inflation rate, and the length of time demand is satisfied increases with the demand elasticity but decreases with the storage cost and the real interest rate.
Maternal Mental State Language and Preschool Children's Attachment Security: Relation to Children's Mental State Language and Expressions of Emotional Understanding
Authors: Mcquaid Nancy , Bigelow Ann E. , McLaughlin Jessica , MacLean Kim 
Published: September 2010

AbstractMothers’ mental state language in conversation with their preschool children, and children's preschool attachment security were examined for their effects on children's mental state language and expressions of emotional understanding in their conversation. Children discussed an emotionally salient event with their mothers and then relayed the event to a stranger. Compared to mothers of insecurely attached children, mothers of securely attached children used more mental state language and had children who used more mental state language with both mother and stranger, and who expressed more emotional understanding in the mother–child conversation. Maternal mental state language and attachment security made shared contributions to children's mental state language with their mothers. Maternal mental state language accounted for the effects of attachment security on children's expressions of emotional understanding in the mother–child conversation. Mothers’ mental state language to their children may enhance secure attachment and foster children's understanding of mental states in self and others.
Ethnic Differences in the Effects of Parental Depression on Preschool Children's Socioemotional Functioning
Authors: Aikens Nikki L. , Coleman Cheri P. , Barbarin Oscar A. 
Published: September 2010

AbstractThe present study describes the depressive symptomatology of 393 parents of prekindergarten children and assesses ethnic differences in the depression scores of these parents and their differential consequences for children's social competence. Data are drawn from the National Center for Early Development and Learning (NCEDL) classroom study, a national, longitudinal study examining the quality and outcomes of prekindergarten programs operated in schools or under the direction of state and local educational agencies, and the supplemental NCEDL familial and social environments study. Analyses indicated that Latino parents were more likely than African‐American and White parents to be depressed. However, as reported by both parents and teachers, behavioral outcomes for African‐American children of parents with elevated depressive symptomatology were worse than children of their Latino and White counterparts. Interactions between ethnicity and depressive symptomatology emerged in the parent‐child relationship, with African‐American parents with elevated depressive symptoms reporting significantly greater levels of conflict in the parent–child relationship than their non‐depressed counterparts. African‐American parents with elevated depression scores were also less likely to be in marital relationships than their non‐depressed counterparts. Among African‐American families, parent–child conflict served as a mediator of the effects of parental depression on child outcomes. Implications for intervention are discussed.
Statistics Poker: Reinforcing Basic Statistical Concepts
Authors: Leech Nancy L. 
Published: September 2010

SummaryLearning basic statistical concepts does not need to be tedious or dry; it can be fun and interesting through cooperative learning in the small‐group activity of Statistics Poker. This article describes a teaching approach for reinforcing basic statistical concepts that can help students who have high anxiety and makes learning and reinforcing these concepts more interesting and fun.
The Cassa Integrazione Guadagni
Authors: François Antonio D'Harmant , Brunetta Renato 
Published: September 2010

ABSTRACT: The purpose of this paper is to provide an analytical survey of the historical and normative evolution of the Italian Cassa Integrazione Guadagni (hereafter Earnings Integration Fund or EIF) through examination of the prevalent economic and juridical models during the 40 years of the EIF's existence.The evolution of the EIF in the periods examined is classified according to five theoretical models, so as to bring out the many different standards accumulated during the administration of the EIF, and the many measures adopted by Public Authorities in response to the various requirements which have arisen over time. The result is an overall reference framework for the EIF's present administration, which is characterised by the presence of both the need for various reforms and alterations, and an equal number of ways of carrying them out; from the development of an ever more direct link between crisis situations and specific EIF requirements, and the evident need to bring the institution within a normative framework correlated to a global labour policy. A verification of the different methods of utilising the EIF is therefore, for the authors, utilizable in defining suitable solutions for modern situations, which require effective EIF models to be worked out in conjunction with an appropriate mix of active labour policies.
An Aggregate Disequilibrium Model of the Labour Market: An Empirical Investigation for the Italian Economy
Authors: Lucifora Claudio 
Published: September 2010

ABSTRACT: This paper develops a partial disequilibrium model for the Italian economy. After a brief description of the theoretical framework adopted, the empirical model is specified and estimated. The hypothesis that the Italian labour market, in the period considered, was characterized by‘equilibrium’is tested and rejected.Amongst other factors, the unions‘pushfulness’played a very influential role in wage determination.
GENERAL AND PARTIAL EQUILIBRIA IN A CONSUMPTION ECONOMY
Authors: Gutiérrez José Manuel 
Published: September 2010

ABSTRACTWe consider a simple aggregative consumption economy, where there is a market for commodities and four financial markets: for bonds, deposits, credits and some speculative asset. There is a Wicksellian central bank. The existence of temporary equilibrium is discussed by considering partial equilibria in the different markets.
THE MEDIATION OF CHRIST'S NORMATIVE SPIRIT: A CONSTRUCTIVE READING OF SCHLEIERMACHER'S PNEUMATOLOGY
Authors: HECTOR KEVIN W. 
Published: September 2010

AbstractContemporary theologians have enriched our understanding of the Holy Spirit's identity and broadened our grasp of the pneumatological tradition, but a crucial question has not been sufficiently addressed: while we have renewed understandings of who the Spirit is and what the Spirit does, very little has been said about how the Spirit works. On the basis of some clues from Schleiermacher, this essay elaborates and defends an answer to this question. According to this proposal, Christ's normative Spirit is mediated through a process of mutual recognition which carries on the Spirit of Christ's beliefs and actions.
WONDER BETWEEN TWO: AN IRIGARAYAN READING OF GENESIS 2:231
Authors: DE VRIES ROLAND J. 
Published: September 2010

AbstractLuce Irigaray, in the course of engagement with René Descartes, argues that we must return wonder to its first locus—that of sexual difference. I suggest that Irigaray's notion of wonder finds resonance in the poetic declaration of the first man in Genesis 2:23. While the creation narratives affirm the equality of woman and man, they also affirm the irreducibility of woman and man to each other. This insistence on wonder has implication for communicative exchange between woman and man. I also argue, however, against Irigaray, that wonder is as appropriate between humans and God as between the sexes.