bluuebunny/crossref_metadata_2025_split huggingface dataset:
SPATIAL DISPERSION OF TECHNOLOGICAL INNOVATION: A CASE STUDY FOR THE NETHERLANDS BY MEANS OF PARTIAL LEAST SQUARES*
Authors: Davelaar Evert Jan , Nijkampt Peter 
Published: July 2006

ABSTRACT. In this paper the impact of spatial and nonspatial variables on the innovation potential and innovativeness of (small) industrial firms in The Netherlands will be analyzed. Innovation potential and innovativeness will be conceived as latent variables which will be measured by a partial least squares approach. The variables reflecting innovation potential are notably input variables such as internal and external R&D, while innovativeness will be based on output indicators such as the number of product and process innovations.The regional dimension enters our analysis essentially at two levels. First, we will investigate whether more innovative firms are to some extent spatially biased (i.e., on the basis of intrafirm characteristics). Secondly, we will analyze the relevance of an indigenous regional impact, per se. In other words, we will examine whether firms with an equal innovation capacity will differ in actual (i.e., realized) innovativeness as a consequence of different regional conditions.For the first issue, our results indicate that not all regions are equally well‐endowed with potentially innovative (small) firms. Our analysis even demonstrates that these firms are underrepresented in regions which are generally considered to offer the most favorable production environment. After compensating for these differences in the composition of the regional set of firms, we demonstrate that an indigenous regional impact per se cannot be identified in The Netherlands.
SPATIAL COMPETITION À LA COURNOT: PRICE DISCRIMINATION BY QUANTITY‐SETTING OLIGOPOLISTS*
Authors: Anderson Simon P. , Neven Damien J. 
Published: July 2006

ABSTRACTIn this paper, we consider oligopolistic competition in a spatial model when firms take care of goods' delivery and discriminate among consumers. Firms compete by setting quantity schedules independently over space. We show that under general conditions a Nash equilibrium in this game exists and is unique. In equilibrium, firms’ markets overlap, a feature which accords with intuition and empirical observations. Over the interval between two firms, the equilibrium spatial price schedule is quasi‐concave (quasi‐convex) when transport costs are concave (convex). With linear transport costs, the model predicts uniform delivered pricing. Uniform pricing could moreover be obtained by a combination of increasing returns to volume in transportation together with concavity of unit transport costs in distance.
A TRANSLOG APPROACH TO CONSUMER SPATIAL BEHAVIOR*
Authors: Lo Lucia 
Published: July 2006

ABSTRACTWith the view that travel behavior stems from the principle of utility maximization, in this paper I present a spatial translog demand model that accounts for interdependence among travel alternatives and that handles varying elasticities of substitution for various destination pairs. Using simulation as the mode of inquiry, this model describes the effect of spatial size, spatial configuration, and spatial substitution on spatial interaction. In addition to indicating how varying spatial sizes and configurations affect the average trip length and the trip making pattern, the simulation results also point out the possible effect of having spatially dependent locations in the system. Competing destinations increase the attractiveness of nearby locations, and complementary destinations reduce the impeding effect of space. The model is primarily relevant to the demand for shopping trips.
THE ASSUMPTION OF EQUILIBRIUM IN THE ANALYSIS OF MIGRATION AND INTERREGIONAL DIFFERENCES: A REVIEW OF SOME RECENT RESEARCH*
Authors: Evans Alan W. 
Published: July 2006

ABSTRACTThis paper questions the plausibility of the assumption of interregional equilibrium in recent research into migration and the valuation of amenities in the United States. It is shown that it is difficult to develop a satisfactory explanation for continuing net migration which is compatible with the equilibrium assumption, and that recent relevant research generally fails to support the idea that the U.S. economy is in equilibrium. The association of higher rent levels with in‐migration is explained as a short‐run phenomenon. If the spatial economy is in disequilibrium, then the valuations of amenities assuming equilibrium will be biased, being probably too low in areas of net in‐migration and too high in areas of net out‐migration.
FORECASTING TURNING POINTS IN METROPOLITAN EMPLOYMENT GROWTH RATES USING BAYESIAN TECHNIQUES
Authors: LeSage James P. 
Published: July 2006

ABSTRACTIn this paper, I adapt to the regional level a Bayesian approach developed by Zellner, Hong, and Min (1990) to analyze forecasts of turning points in a multicountry setting. The techniques applied to a regional setting treat the individual metropolitan areas in the same way that Zellner, Hong, and Min treated countries. The findings in this study indicate that the techniques and models employed by Zellner, Hong, and Min work just as well at the metropolitan‐area level as they did in the multicountry setting. The best models, from those studied here, forecast around 70 percent of the downturns and 80 percent of the upturns correctly, which compares favorably to the performance of the same techniques in Zellner, Hong, and Min.
THE PURE THEORY OF HOUSEHOLD LOCATION AN AXIOMATIC APPROACH*
Authors: Turnbull Geoffrey K. 
Published: July 2006

ABSTRACTIn this paper, I present an axiomatic basis for the neoclassical model of household location in a monocentric urban area. I generalize the existing framework and demonstrate that many of the conclusions derived using parametric models continue to hold even without the popularly assumed well‐behaved utility and transportation cost functions.
TWO‐DIMENSIONAL BERTRAND COMPETITION: BLOCK METRIC, EUCLIDEAN METRIC, AND WAVES OF ENTRY*
Authors: Braid Ralph M. 
Published: July 2006

ABSTRACTThis paper examines two‐dimensional spatial competition, with Bertrand price determination. With a block metric, equilibrium prices are significantly lower when market areas are squares than when they are diamonds (rotated squares) of the same size. If demand density grows, waves of entry occur, and the shapes of market areas change from squares to diamonds and back to squares again. The former change leaves prim unchanged, whereas the latter cuts prices in half. Results are also derived for a Euclidean metric, with square and hexagonal market areas. Optimal waves of entry are examined with the block metric. With either metric, the socially optimal market shape becomes suboptimal if market areas are constrained to be of the zero‐profit size.
THE IMPACT OF STATE LAND‐USECONTROLS ON RESIDENTIAL LAND VALUES
Authors: Shilling James D. , Sirmans C. F. , Guidry Krisandra A. 
Published: July 2006

ABSTRACTIn this paper, we examine the effects of state land‐use controls on the aggregate demand and supply of residential land. Previous studies have examined the effect of land‐use regulation on housing prices using single‐equation estimation. We estimate a three‐equation intejurisdidional supply‐demand model of land‐use controls. Our results suggest that land‐use regulations have a significant impact on both the demand and supply of residentid land as expected.
AN ASYMPTOCALLY UNBIASED TWO‐STAGE LEAST SQUARES ESTIMATOR OF THE STRUCTURAL DISTURBANCE VARIANCES AND THE BIAS
Authors: Kymn Kern O 
Published: July 2006

AbstractLet Σ represent the covariance matrix of the structural disturbances of a simultaneous equations model. The conventional consistent estimator of the elements of Σ is usually given as the mean 2SLS residuals. However, neither the bais nor the asymptotic bias of the estimator of Σ by 2SLS have been found. This paper analytically derives an asymptotically unbiased estimator of Σ by 2SLS and determines the bias for finite samples. It is shown that the bias vanishes asymptotically. Then the paper suggests that the derived estimator may be applied in the second stage as well as in the third stage of 3SLS estimation. Other possible applications are indicated.
THE MINIMUM DISTANCE CONSISTENT 2 SLS ESTIMATOR OF THE STRUCTURAL DISTURBANCE VARIANCE
Authors: Kymn Kern O. 
Published: July 2006

AbstractLet Σ represent the covariance matrix of the structural disturbances. Following Theil the standard consistent estimator of the elements of Σ is given as the mean 2 SLS residual sum of squares. This paper shows the fact that there is a class of consistent estimators of Σ and that the standard estimator is not a minimum distance estimator. It derives the minimum distance consistent 2 SLS estimator of Σ. Then the paper suggests that the derived estimator be applied in the second stage as well as in the third stage of 3 SLS estimation. Other possible applications are indicated.This paper contains an improvement and reformulation of the results previously derived by the author on a related subject that appeared in Metroeconomica [9]. This paper contains an improvement over the previous result in that the derived estimator in this paper possesses not only consistency but also the minimum distance property.
A STOCHASTIC MODEL OF SALES RESPONSE TO ADVERTISING
Authors: Tapiero Charles S. 
Published: July 2006

ABSTRACTA stochastic model of advertising response is developed. It is shown that the evolution of mean sales is equivalent to Vidale‐Wolfe type advertising models and to Stigler's diffusion model. A stochastic framework for advertising is found here to be ideally suited for the estimation of market parameters, for hypothesis testing of advertising models, and for studying the risk implications of an adversiting policy.
ALTERNATIVE SIGNIFICANCE TESTS FOR 2SLS ESTIMATED PARAMETERS: SOME FURTHER MONTE CARLO EVIDENCE AND COMMENT
Authors: Kymn Kern O. 
Published: July 2006

ABSTRACTFollowing Green's study (Metroeconomica, Vol. XXV, 1973) the performance of finite sample approximations of the variance estimators in the test statistics for 2SLS estimated coefficients has been investigated by a Monte Carlo siudy. A priori the variances should be positive. The Monte Carlo experiments produced evidence that a large number of finite sample approximations of the computed variances were negative. The evidence indicates that the usefulness of the usual finite sample approximations formula for variance estimators in the 2SLS test statistics is severely limited.
PORTFOLIOS WITH RESERVE COEFFICIENT
Authors: LeBlanc Gerald , van Moeseke Paul 
Published: July 2006

ABSTRACTThis article offers an attempt at defining and computing the coherence of, and substitution among, the standard instruments of monetary policy, viz. open market policy, rate of interest, and reserve coefficient.A number of separation theorems are proved and a unit‐elasticity rule derived for the tradeoff between the reserve coefficient and the premium on risky assets.Finally, for any given interest rate we select an optimal portfolio by the maximal‐caution criterion, which minimizes the probability of failure.
DEMAND UNCERTAINTY, MONOPOLY WITH TWO‐STAGE INPUT DECISIONS, AND CORPORATION TAXES
Authors: Ishii Yasunori 
Published: July 2006

ABSTRACTThis paper attempts to investigate the effects of changes in the lump sum tax and the profit tax rate on the input, output and price decisions of the risk averse monopoly under demand uncertainty. It is assumed that, while the monopoly must determine its capital ex ante, it may modify the output and price determinations through adjusting its labor ex post.As the results of its analysis, the paper presents the new propositions with respect to the corporation taxes which have never been shown in both the deterministic models and the models which exclude the possibility of two‐stage input decisions, even under demand uncertainty.
HYBRID LOG‐LINEAR MODELS FOR SPATIAL INTERACTION AND STABILITY ANALYSIS(*)
Authors: Brouwer F. , Nijkamp P. , Scholten H. 
Published: July 2006

SUMMARYThis paper discusses the relevance of hybrid log‐linear models for applied research based on categorial data. Such models may lead to statistically significant results based on a reduced number of parameters.The use of long‐linear modeling is illustrated by means of spatial interaction analysis with categorial data. Special attention is given to the problem of so‐called structural zeros and of stability of spatial interaction patterns.Various constraints on the set of interaction parameters emerging from the off‐diagonal elements of a spatial interaction matrix are taken into account by means of an entropy function. The analysis is illustrated by means of an empirical application to migration flows in Dutch housing market areas.
A NOTE ON IS‐LM AND STOCK ADJUSTMENT PROCESSES
Authors: Boitani A. , Christodoulakis N. 
Published: July 2006

ABSTRACTA discrete‐time model of a closed economy is employed in order to introduce the whole dynamics of stock adjustments in the IS‐LM diagram. Discrete‐time modeling allows us to represent the traverse process from the initial stationary state equilibrium to the new one by means of a family of intermediary IS(t) and LM(t) curves intersecting at each t to determine the appropriate short run equilibrium. Sufficient conditions for the dynamic process to be non‐cyclical are derived under plausible assumptions. Two appendices provide the stability analysis and a numerical simulation of the model used.
A THEORETICAL ANALYSIS OF SISMONDI'S TABLEAU ECONOMIQUE
Authors: Dome Takuo 
Published: July 2006

ABSTRACTThis paper submits Sismondi's calculation example presented in his paper of 1824 («On the Balance of Consumption and Production») in the form of an input‐output table. This paper also examines Sismondi's argument concerning technological progress and under‐consumption. The effect of an increase in labour productivity in one particular sector on the economy as a whole is analysed in the framework of a simple reproduction system. Subsequently the model is applied to a growth economy, and the difficulty of attaining balanced growth in Sismondi's system is discussed.
UNIQUENESS OF PERIODIC ORBITIS IN LIENARD‐TYPE BUSINESS‐CYCLE MODELS
Authors: Galeotti M. , Gori F. 
Published: July 2006

ABSTRACTWe study three different versions of the Kaldor's 1940 Business‐Cycle Model (13, and we show that they can all be reduced, through suitable changes of variables, to a planar dynamical system of Lienard‐type.By applying a classical result due to A. Filippov (8) and a quite recent theorem of the Chinese mathematician Zhang Zhi Fen (19, it is easily proved that our systems present a unique attracting limit‐cycle encircling the only existing equilibrium.Our analysis does not require any extra hypothesis regarding the symmetry of the investment and saving functions, except the «classical» ones and those needed to reducing the system to Lienard form.It extends, so far, a few previous results obtained by H.W. Lorenz (16) on the very same model.
AN ALTERNATIVE TO GOODWILL IN ADVERTISING COMPETITION MODELS
Authors: Dominique C. René 
Published: July 2006

ABSTRACTThe concept of a goodqill stock is often used to model advertising competition under dynamic conditions. Goodwill is unobservable and consequently leads to results that are fuzzy and untestable. This paper dispenses with that concept and uses instead a Lanchester‐Kimball structure to derive an advertising response function and other insights which are empirically testable. It also examines the factors behind firms' dominance and their individual impact on equilibrium market share.
IMPERFECT INFORMATION AND THE CHOICE BETWEEN COLLUSION AND HORIZONTAL MERGER
Authors: De Fraja G. 
Published: July 2006

ABSTRACTIf the payoff obtained by the parties of an agreement depends on the values set for variables the value of which cannot be described precisely or monitored accurately, then the first best outcome may not be achieved. It is shown here that in some cases a second best long term agreement gives the parties a higher payoff, in other cases a short term arrangement is preferred.The interpretation of this result given in the paper is that when a long term contract is preferable, then firms are unable to commit themselves to it through a collusive agreement, and they will try to merge. Vice versa, no need to integrate arises when the preferred second best agreement is the short term one. The last section provides an example, where advertisement effort is non‐contractible, while prices are.
INFLATION AND THE TIMING OF PRICE CHANGES (*)
Authors: McMillan John , Zinde‐Walsh Victoria 
Published: July 2006

ABSTRACTConsider an oligopolistic industry in which the firms produce perfect substitutes and incur transaction costs of changing price. Under constant inflation, there is an equilibrium in which the firms change their nominal prices at equally spaced time‐points. Increasing the inflation rate increases the size of price changes, increases the frequency of price changes, and increases the average real price paid by buyers. The analysis derives its significance from its implications for the welfare costs of inflation: the inflation‐induced distortions in relative prices are larger the more sticky nominal prices are; and are larger the greater the tendency for firms to stagger (rather than synchronize) their price changes.
OPTIMAL INTERNATIONAL DEBT AND ENDOGENOUS TIME PREFERENCE IN A DEMOGRAPHICALLY DIVIDED WORLD (*)
Authors: van Dalen Hendrik P. 
Published: July 2006

ABSTRACTThe international transmission of shocks in population growth and technology is examined in an interdependent two‐country world economy; decisions concerning the intertemporal allocation are made by social planners with an infinite horizon and an endogenous rate of time preference. Steady state shocks in population growth are shown to be negatively transmitted to the rate of time preference. In the steady state, the optimal foreign debt is determinate and it brings about a convergence of time preference. The net creditor and debtor positions in the steady state depend on the discount rate functions, the states of technology and the rates of population growth.
UNEASY POLYGONS: ENVIRONMENT AND SECURITY WITHIN THE SYSTEM OF AIMS OF AN ECONOMY
Authors: Eichhorn Wolfgang 
Published: July 2006

ABSTRACTTwo of the most important challenges in the last decade of our century are the problems of «environmental protection» and «technological risks». As a response to these challenges the public calls for «minimization of environmental deterioration» and «maximization of security». These demands are empty formulae if other requirements are ignored.Both demands have to be stated within the framework of the other aims that are important in a modern economy.In this connection, we extend the well‐known uneasy quadrangle of economic policy to what we call the uneasy nonagon of economic, environmental and security policy. Since the nine aims of this nonagon are, at least in part, not very consistent, a wealth of difficult problems arise. Solutions to these problems cannot be given immediately. This paper is intended to draw attention to the form and the formulation of the problems. In this context, the requirements of «environmental protection» and «security» are the focal points of the paper.
EXTERNALITIES IN PRODUCTION AND CHAOS
Authors: Rauscher Michael 
Published: July 2006

ABSTRACTThe paper investigates the stability of a competitive equilibrium if there are externalities in production. There is a positive externality associated with capital, e.g. a spill‐over of technological knowledge, and a negative externality associated with an environmental factor of production. Firms are assumed not to take these externalities into account when they adjust their factor allocation to changes in factor prices It is shown that all types of adjustment paths. including chaotic ones, are feasible.
MULTIPLIER EFFECTS IN A NEOCLASSICAL MODEL WITH A PRODUCTION LAG(*)
Authors: Thomas J. 
Published: July 2006

ABSTRACTThe paper examines the effects of introducing a one‐period production lag into what is otherwise a fairly standard macroeconomic model. Depending upon the relative elasticities of aggregate demand and supply it is possible that such a neoclassical model can produce extreme Keynesian results.The response of output to changes in government consumption can be greater even than the simple multiplier; this effect can be greater under rational expectations than under adaptative expectations. Introducing an efficiency wage story into the model leads naturally to the existence of a Phillips curve.
CENTRAL GOVERNMENT BUDGET DEFICITS AND EX ANTE REAL LONG TERM INTEREST RATES IN ITALY: AN EMPIRICAL NOTE FOR 1955‐1989
Authors: Cebula Richard J. 
Published: July 2006

ABSTRACTThis paper empirically investigates the impact of central government budget deficits upon interest rates in Italy. The period studied runs from 1955 to 1989, and annual data are used. The interest rate measure is the ex ante real rate of interest. It is found, using an instrumental variables technique to control for the endogeneity of the budget deficit, that the budget deficit raises the ex ante real interest rate in Italy.
COMPETING VIEWS OF THE MONEY SUPPLY PROCESS: THEORY AND EVIDENCE
Authors: Palley Thomas I. 
Published: July 2006

ABSTRACTThis paper examines three competing approaches to the determination of the money supply. The first approach is labelled the pure portfolio approach, and corresponds to the orthodox approach to the money supply. The second approach is labelled the pure loan demand approach, and corresponds to the Post Keynesian accommodationist view of endogenous money. The third approach is labelled the mixed portfolio‐loan demand approach, and corresponds to the Post Keynesian structuralist view of endogenous money. The critical theoretical difference between the latter two models is identified in terms of the importance of the private initiatives of banks in accommodating expansions of loan demand. The paper then provides Granger‐causality evidence on the three approaches, and concludes in favor of the mixed portfolio‐loan demand approach.
GEOMETRICAL TRIPARTITION OF THE TOTAL EFFECT ON CAPITAL OF A CHANGE IN THE PROFIT RATE (THE DISCRETE CASE)
Authors: D'Ippolito Gioacchino 
Published: July 2006

ABSTRACTThe author shows that the effect on the product‐capital ratio of an increase in the profit rate from below to above the rate that marks the switching from technique I to technique 11 can be geometrically split up into i) two price effects resulting from price changes within each technique and ii) an intermediate real effect, in general well‐behaved, consequent to the switching from the first to the second technique. The product‐capital ratios can be correctly determined, and are as such “invariant” with respect to the numéraire chosen, only if derived from wage curves that are constructed by assuming as numéraire a basket whose composition is the same as the net product. This does not invalidate the proposition that the capital‐product ratio, conceived as the value of capital per physical basket of product, and its response to a rise in the profit rate vary with the numéraire chosen.
Artefacts in immunofluorescence microscopy: a potential source of diagnostic confusion
Authors: Jenkins Rachel E. , Bhogal Balbir S. , Willsteed Elizabeth , Black Martin M. 
Published: July 2006

AbstractThe success of the immunofluorescence technique has as its basis a specific immune reaction which is readily influenced by physicochemical variables. In all procedures careful examination with appropriate selection of materials and conjugates and careful observation must be made. Proper controls are required to interpret specific reactions and distinguish these from nonspecific artefacts and other patterns which cause diagnostic confusion. The recognition of immunofluorescence artefact patterns is essential to the trainee who is gaining experience in immunofluorescence microscopy. However, the correct diagnosis in the individual patient is further insured by correlating all the relevant clinical and histological details with the immunofluorescent findings.