bluuebunny/crossref_metadata_2025_split huggingface dataset:
THE ROLE OF THE GOLD STANDARD IN THE GIBSON PARADOX
Authors: Sumner Scott 
Published: May 2007

ABSTRACTRecent papers by Lee and Petruzzi (1986) and Barsky and Summers (1988) provide rival theories of how the Gibson Paradox could result from the impact of changes in the interest rate on the real price of gold. This paper empirically tests each model and finds more support for the Lee‐Petruzzi approach than the Barsky‐Summers approach. The paper also suggests that Lee and Petruzzi may have used an inappropriate method to test their model, and that both papers employed inappropriate sample periods.
CREDIT, MONEY AND THE GOVERNMENT BUDGET CONSTRAINT
Authors: Hillier Brian , Ibrahimo M. V. 
Published: May 2007

ABSTRACTA credit market is introduced into an IS‐LM model with wealth effects and the government budget constraint explicitly considered, The model is able to handle issues such as a credit market shock that would be impossible to examine in standard models without a credit market. The analysis of more standard policies or shocks is enhanced by recognition of the role of the credit market, thus supporting the view that such recognition is both feasible and warranted.
INTEGER PRICING AND BERTRAND‐EDGEWORTH OLIGOPOLY WITH STRICTLY CONVEX COSTS: IS IT WORTH MORE THAN A PENNY?
Authors: Dixon Huw David 
Published: May 2007

ABSTRACTIn this paper we analyse the implications of integer pricing for Bertrand Edgeworth oligopoly with strictly convex costs. When price is a continuous variable, there is a generic non‐existence of pure‐strategy equilibrium. In the case of integer pricing, this is not so. We characterize a set of possible single price equilibria around the competitive price, which if non‐empty will constitute the set of single price equilibria if the industry is large enough. Furthermore, we provide an example in which the highest equilibrium price can be arbitrarily far from the competitive price.
IMPLICIT CONTRACTS, TRADE UNIONS AND INVOLUNTARY UNEMPLOYMENT
Authors: Sumpson Anthony A. 
Published: May 2007

ABSTRACTImplicit contract theory is used to predict the nature of optimal wage‐employment contracts between a firm and a union with a utilitarian maximand, under an uncertain revenue product of labour. By allowing recruitment of outsiders in good states, and allowing unemployment of union members in bad states, a rich set of possible trajectories in wages and employment is achieved. Monotonicity of employment in prices is preserved, whereas monotonicity of wages is not.
THE MEASUREMENT OF PRODUCTIVITY AND MARKET STRUCTURE IN THE UK
Authors: Caporale Guglielmo Maria 
Published: May 2007

ABSTRACTThis paper explains how the Solow residual should be adjusted to provide a correct measure of productivity when markets are not perfectly competitive. Although the null hypothesis of a unity markup coefficient can not be rejected, values greater than one also lie within the confidence interval. Hence the adjustment for imperfect competition should be carried out. The finding that the average mark‐up coefficient in the UK is lower than in the US might reflect the higher degree of intra‐EC import competition.
OLIGOPOLISTIC PRODUCT WITHHOLDING IN RICARDIAN MARKETS
Authors: Masson Robert T. , Mudambi Ram , Reynolds Robert J. 
Published: May 2007

ABSTRACTWe consider strategic behaviour in the rental market for quality‐differentiated goods. In his classic analysis Ricardo showed that at the competitive equilibrium the price of the marginal unit is driven to zero. An oligopolistic market structure usually leads to a radically different equilibrium. Deliberate withholding of units often becomes part of a firm's best response, and whenever this occurs, a pure strategy equilibrium fails to exist. A necessary but not sufficient condition for a pure strategy equilibrium to exist is for one firm to own all the best quality units. A mixed strategy equilibrium always exists and the associated payoff is aiways greater than the competitive payoff.
ECONOMIC SYSTEMS, POLITICAL STRUCTURES AND HUMAN RIGHTS
Authors: Rao M. J. Manohar , Karnik Ajit V. 
Published: May 2007

ABSTRACTThe paper deals with the estimation of comparable human rights ratings (defined as a composite of political rights, civil liberties and state power indices) for 154 countries, excluding territories, of the world in 1983. It then develops a theory to gauge the sensitivity of these ratings to a specific disaggregation suggested by the theory of political economy and establishes the close nexus existing between economic systems, political structures and human rights. The results indicate that increasing government intervention, whether economic or political, unequivocally tends to worsen the human rights situation. Moreover, it is seen that affluence and income distribution are significant predictors of human rights ratings across countries.
UNEMPLOYMENT IN AN EQUILIBRIUM MODEL WITH BARGAINING*
Authors: Groenewold Nicolaas 
Published: May 2007

ABSTRACTThis paper develops a model which embeds the Nash‐equilibrium version of McDonald and Solow's (1981) wage‐bargaining model into an otherwise standard static equilibrium macro model. Equilibrium unemployment is possible. Real shocks to demand result in pro‐cyclical employment and anti‐cyclical real wage movements while money shocks are neutral. This is in some contrast to the results obtained by McDonald and Solow.
DEPRECIATION, OBSOLESCENCE AND THE ROLE OF CAPITAL IN GROWTH ACCOUNTING
Authors: Oulton Nicholas 
Published: May 2007

ABSTRACTMaurice Scott has argued that the neoclassical production function and growth accounting are fundamentally flawed as tools for understanding the growth process. If the role of capital were correctly evaluated, then (he argues) the famous ‘residual’ of growth accounting would disappear. Contrary to these claims, this paper seeks to show that growth accounting gives correct answers to interesting questions, even when all technical progress is embodied in new capital goods and even when depreciation is entirely due to obsolescence.
INDUSTRIAL LICENSING, BRIBERY AND ALLOCATION EFFICIENCY*
Authors: Bose Pinaki 
Published: May 2007

ABSTRACTIn less developed countries where an industrial licensing policy governs the entry of new firms, and when government officials awarding these licenses are corrupt, an incumbent firm may deter entry by bribing the official to deny the license. The paper demonstrates that such bribery can lead to the exclusion of more efficient firms from the market. This contradicts the established result that bribery does not affect allocation efficiency.
EMPIRICAL TESTS OF MEAN REVERSION IN REAL EXCHANGE RATES: A SURVEY
Authors: Bleaney Michael , Mizen Paul 
Published: May 2007

ABSTRACTSince the development of cointegration and unit root tests, these procedures have been applied widely to the relationship between nominal exchange rates and relative prices. The findings vary considerably for different time periods, exchange rate regimes and test procedures. These results have not previously been the subject of a comprehensive survey or evaluation. Suggestions are offered for the future development of research in this area.
BILATERALISM IN THE INTERWAR WORLD ECONOMY*
Authors: Kitson Michael , Solomou Solomos 
Published: May 2007

ABSTRACTDiscriminatory protectionist policies in the 1930s are assumed to have led to a collapse of multilateral trading patterns. This paper examines the trends in bilateralism during the interwar period for a sample of ten countries. The findings show that, with the exception of Germany between 1934 and 1938, the level of bilateralism fluctuated but did not see a significant trend increase in the period of increased protectionism during the 1930s.
STRATEGIC TRADE POLICY WITH INTERNATIONALLY OWNED FIRMS*
Authors: Welzel Peter 
Published: May 2007

ABSTRACTThe consequences of international firm ownership for strategic trade policy are examined both in a general and in a simple linear model of an international duopoly with two governments using production subsidies as policy instruments. At first sight, the case for strategic trade policy seems to be weakened, because international ownership reduces a government's incentive for rent‐shifting. Closer inspection shows, however, that there are ownership structures leading to optimal policies which induce the duopolists to behave more collusively. This tends to resolve the conflict between national and international rationality in a policy game with retaliation and makes strategic trade policy look more attractive.
INSIDER‐OUTSIDER EFFECTS IN WAGE FORMATION: AN EMPIRICAL SURVEY*
Authors: Lever Marcel H. C. 
Published: May 2007

ABSTRACTThe paper provides a review of empirical work on insider‐outsider and duration effects in wage formation. It presents a theoretical model to investigate the relationship between previous employment and the wage rate. The impact of unemployment and long‐term unemployment is considered. Empirical results show that the effect of previous employment on the wage rate is generally insignificant. Both short‐term and long‐term unemployment appear to have a significant negative impact. Micro‐studies reveal that both firm‐specific and aggregate variables play a role in wage determination.
STATISTICAL INFERENCE AND DECOMPOSABLE POVERTY MEASURES
Authors: Bishop John A. , Chow K. Victor , Zheng Buhong 
Published: May 2007

ABSTRACTThe paper develops simple statistical test procedures for generalized decomposable poverty measures. It is shown that the estimates of the decomposable poverty indices, including the overall and various subgroup poverty indices, have (asymptotic) jointly normal distributions. The full variance‐covariance structure is derived and can be estimated consistently without prior specification of the population density underlying the sample data. The (overall/decomposed) poverty indices can thus be used as tools for statistical inference instead of simply as descriptive statistics. We illustrate the test procedure by examining the contributions of whites and non‐whites to total US poverty in 1975 and 1985.
FACTOR‐INTENSITY REVERSALS UNDER MONOPOLISTIC COMPETITION*
Authors: Torstensson Johan 
Published: May 2007

ABSTRACTThis paper shows that it is impossible to rule out factor‐intensity reversals (FIRs) under monopolistic competition unless production functions are homothetic. We construct a simple example where the capital‐intensity at unchanged output is fixed, but where FIRs still can occur because equilibrium output and thus the average capital‐intensity depends on the wage‐rental ratio.
COMPUTATION OF NASH‐BARGAINED MODELS OF HOUSEHOLD LABOUR SUPPLY*
Authors: Barmby Tim 
Published: May 2007

ABSTRACTThis paper explores a method of recovering the structural parameters of a Nash‐bargained model of household labour supply. It proceeds by computing the desired hours of labour supply numerically rather than analytically, thus circumventing the need for analytical tractability. This numerical procedure is then embedded in a conventional maximum‐likelihood estimation to obtain estimates of the structural preference parameters. An example using Family Expenditure Survey data is reported.
THEORIES OF THE BANKING FIRM: A REVIEW OF THE LITERATURE*
Authors: Swank Job 
Published: May 2007

ABSTRACTThis paper reviews the theoretical literature on the banking firm. Apart from studies dealing purely with the reasons why banks exist, the survey is fairly comprehensive in that it covers the main categories of microeconomic models of bank behaviour. The emphasis is on recent work, which also includes modern, information‐based, theories of loan commitments, credit rationing, collateral and the bank‐client relationship.
‘Research on research’
Authors: Ritchie E. 
Published: May 2007

AbstractProblem areas currently receiving attention in the literature are discussed. It is suggested that considerable effort will be needed before much of the theory will be translated into practice. In certain areas it is argued that methods which have been proposed in the past have not been based on adequate descriptions of the real problems. A plea is made for more research into the research process and for more empirical testing and validation of the methods and procedures which have been proposed as aids to research managers.
Criteria for selection of venture capital projects: reasons behind successes and failures in the past
Authors: Stevens H. A. R. 
Published: May 2007

AbstractThis paper looks at the area of venture management from the viewpoint of a company which is interested in providing financial support for new areas of activity. It discusses the problems associated with entering new markets and argues that many investments have not been the success that was hoped for because insufficient profit margin was obtainable or built in at the outset. However, by far the most crucial criterion for a venture capitalist is the calibre of the people who are to manage the risk funds, and the motivation of the entrepreneur or team wishing to establish the new enterprise.
Potential problem analysis: A systematic approach to problem prediction and contingency planning—an aid to the smooth exploitation of research
Authors: Woods M. F. , Davies G. B. 
Published: May 2007

AbstractScientists and technologists have always attempted to predict ‘what is likely to go wrong’ with a particular project. At URL Colworth/Welwyn we now have some 24 years’ experience in a semi‐formalized system of problem prediction. The paper describes the system, explains its worth and shows where and when it should be used as well as explaining the consequences of its use. A theoretical justification of some of the assumptions used in the system is also attempted.
Applications of computers in R & D management
Authors: Thain W. 
Published: May 2007

AbstractR & D Managers use computers extensively in solving technical problems. This paper examines the use they make of computers in solving Management problems. Applications of computers to various aspects of R & D programme formulation, project planning, technical information storage and retrieval, management information systems, and computer‐aided training have been investigated by many companies and, in some cases, have been implemented. Some of the techniques have become well established but others are still at a development stage. No attempt has been made to evaluate the techniques described.This topic was the subject of a study by a Working Group of the European Industrial Research Management Association (EIRMA), and a report ‘Computers as Aids to R & D Management’ was distributed to members of the Association. EIRMA has now agreed to release information contained in that report and this paper is based on that information updated by the author, who was Chairman of the EIRMA Working Group.
Forecasting as an aid to R & D decision making in the nuclear power field
Authors: Brookes L. G. 
Published: May 2007

AbstractThe pay‐off from a new power system does not begin to accrue until many years after the initial research; and perhaps not until 10 years or more after major development programmes are launched. The ensuing benefit to the community in terms of reduced power costs may be spread over 30 to 40 years—combining the lifetime of the stations with the period over which they might be installed. Ideally therefore, the Atomic Energy Authority would like to have accurate forecasts of electricity demand and its characteristics in terms of load factors, etc., 30 to 40 years ahead. This paper describes attempts by the Authority to forecast electricity requirements at and beyond the end of the century as a background to their consideration of the relative merits of alternative future nuclear power systems and the distribution of research effort between them.The study was conducted between 1969 and 1971. The danger of the Middle East countries restricting oil supplies and raising prices was foreseen but in a less acute form and later than has actually occurred. The recent developments are likely to lead to pauses in economic growth followed by growth at lower rates than otherwise. Where forecasts in this article are given in the form of ranges, the lower bounds of the range are likely to apply—at least in the short and medium term.
Forecasting as an aid to R & D decision making in the nuclear power field
Authors: Brookes L. G. 
Published: May 2007

Abstract The pay‐off from a new power system does not begin to accrue until many years after the initial research; and perhaps not until 10 years or more after major development programmes are launched. The ensuing benefit to the community in terms of reduced power costs may be spread over 30 to 40 years—combining the lifetime of the stations with the period over which they might be installed. Ideally therefore, the Atomic Energy Authority would like to have accurate forecasts of electricity demand and its characteristics in terms of load factors, etc., 30 to 40 years ahead. This paper describes attempts by the Authority to forecast electricity requirements at and beyond the end of the century as a background to their consideration of the relative merits of alternative future nuclear power systems and the distribution of research effort between them.The study was conducted between 1969 and 1971. The danger of the Middle East countries restricting oil supplies and raising prices was foreseen but in a less acute form and later than has actually occurred. The recent developments are likely to lead to pauses in economic growth followed by growth at lower rates than otherwise. Where forecasts in this article are given in the form of ranges, the lower bounds of the range are likely to apply—at least in the short and medium term.
An evolutionary approach to the introduction of corporate planning in the company
Authors: Wilkinson A. 
Published: May 2007

AbstractWhen corporate planning has been tried by a number of organizations a number of difficulties have arisen. These are often a consequence of the planning system itself and the manner of its introduction to the organization. A new approach is described in this paper by which planning is introduced in stages. Each is a logical development of the previous one but each makes a reasonable demand on the staff and there is time to ensure that the data needed at each stage by the staff is available. Furthermore, the staff contribute to the development of the planning system which, at each stage in its evolution, is adapted to their needs. Having thus described the introduction and evolution of a planning system in an organization, a later paper will review how the technical function of a company can link into it.
Coupling technical informationgenerators and exploiters
Authors: Isenson R. S. 
Published: May 2007

AbstractOrganizational separation between the research and development functions in industry and in government laboratories offers significant administrative conveniences. There is a possible hidden, associated cost, however, in terms of added impedance to the flow of technical information between the separated groups. This paper reports the results of a deliberate effort to circumvent an assumed communication barrier and a limited test of the validity of that assumption.
The technological gatekeeper
Authors: Taylor Robert L. 
Published: May 2007

AbstractThe present study identifies a two‐step flow process of communication mediated by technological gatekeepers for scientific and technical fields characterized by dynamic information environments. Peer identification and a supervisory recognition of the phenomenon validate the gatekeeper finding. Certain characteristics of this study differ from previous research. The external communication needs of military in‐house researchers are mitigated greatly by the infusion of technical information into the laboratory which is a part of the everyday activities of the organization. Gatekeepers are differentiated by topic and not the media monitored. Finally, the gatekeeper phenomenon is implicitly recognized, even though the development may be spontaneous; development that results because either the formal media leave a void in information needs or that engineers are not trained in the use of the formal information sources. In either case, the technological gatekeeper is a natural response to an information need.
Characteristics and diffusion of technological innovations
Authors: Hayward G. , Allen D. H. , Masterson J. 
Published: May 2007

AbstractThe paper examines fourteen post war innovations; five in the flour milling industry, four in the malting industry, and five in the dairy industry. The major work has been carried out in the flour milling industry, with supportive studies in the malting and dairy industries. Examination is made of the characteristics of the innovations as perceived by technical managers who are in a position to influence adoption or non‐adoption. The research sets out to study the relationship between the perceived characteristics of the innovations and their diffusion times. It is hoped that the results will be of value to engineering designers and marketing managers in the capital equipment manufacturing industries by enabling them to develop a clearer understanding of adoptors and non‐adoptors of innovations and also to study the inter‐relationships between different sectors of the industries which they serve. Two forms of profiles of the characteristics of innovations are presented.
Social assessment of technology: some clarifications and areas for future research
Authors: Yunis E. S. 
Published: May 2007

AbstractMost of the literature on Technology Assessment has concerned its methodological aspects. Our current research work is oriented towards organizational aspects of the process of T.A., and to the ways it can be implemented in different institutional environments. This paper enquires a little further into the meaning and implications of the idea of T.A., spelling out its main distinctive features; the process of Social Assessment of Technology is considered as part of the Planning process; then, a conceptual framework, namely the systems approach, is proposed for helping the understanding of the social process dealt with. A general, critical survey of current research trends and unresolved issues in the field is done, to conclude with some suggestions for new research work in this area.