bluuebunny/crossref_metadata_2025_split huggingface dataset:
THE DETERMINANTS OF THE INTER‐INDUSTRY PATTERN OF DIVERSIFICATION BY U.K. MANUFACTURING ENTERPRISES*
Authors: Grant R. M. 
Published: May 2007

SummaryEvidence of the diversity of output of larger U.K. manufacturing enterprises’in 1958, 1963 and 1968 is provided in the Reports on the Census of Production. The Censuses show that between 1958 and 1968 diversification was a significant and general trend in manufacturing industries and an important element in the growth of firms during the period. Moreover diversification seems to be part of a longer term trend in U.K. industry and part of the typical development pattern of the large firm. A theory of the firm's diversification decision is proposed and from this theory predictions are made of the structural features both of a firm's primary industry and of outside industries which are likely to encourage diversification from the one industry to the other. The power of the model in explaining the pattern of diversification between SIC manufacturing orders in the period 1963–68 is weak, due in part to the wide variety of factors influencing diversification and to the aggregated form of the data. Nevertheless, the results show the importance of research and development effort in encouraging diversification and the stimulus to diversification given by profitability and risk in firms’primary industries and high rates of output growth in outside industries. While the findings offer no clear conclusions regarding the impact of diversification upon economic performance, the results are consistent with the propositions that (i) diversification encourages technical progress in industry and (ii) diversification increases the efficiency with which resources are allocated between industries.
GENERALIZED OLIGOPOLY DERIVED DEMAND WITH AN APPLICATION TO TAX INDUCED ENTRY*
Authors: de MezaHolly David 
Published: May 2007

ABSTRACTEquations are derived for the factor demand of an N firm oligopoly for fairly general market demand curves and production functions. Free‐entry is then introduced and it is shown that this may either raise or lower derived demand elasticity. This result is then applied to show that a unit production tax may encourage entry and so cause larger changes in price and quantity in the short run than the long run.
ON THE RELATION BETWEEN HICKSIAN SURPLUS AND TRUE COST‐OF‐LIVING INDICES
Authors: Dodgson J. S. 
Published: May 2007

ABSTRACTThis note demonstrates how recent results in the literature on true cost‐of‐living indices are of direct relevance to attempts to measure Hicks’compensating and equivalent variations because of the close inter‐relationship between the Hicksian surplus measures and true (or constant‐utility) price indices.
ENDOGENOUS POPULATION GROWTH IN AN OVERLAPPING GENERATIONS MODEL WITH INTERNATIONAL LENDING AND BORROWING*
Authors: Vicary Simon 
Published: May 2007

ABSTRACTIn this paper population growth is the outcome of a utility maximizing process undertaken by each working generation. This is distinct from the usual treatment of population growth as an exogenous variable. Steady state growth paths are analysed, and the model is extended to allow for international lending and borrowing. The results obtained broadly correspond to the case of a given rate of increase of population, but under certain assumptions it is found that a capital importing country will have a faster rate of growth as a result of being able to borrow on international capital markets.
LEMONS AND SUPERGAMES*
Authors: Dolton Peter J. 
Published: May 2007

ABSTRACTThis paper generalizes an earlier paper by Heal (1976) in which the‘lemons problem’is analysed in an exchange framework over time. Heal showed that the Akerlof (1970) rule that bad goods (lemons) always drive out good may not always be a valid one. Heal's anti‐lemons result is also shown to be a Balanced Tempta‐Equilibrium (B.T.E.) in the supergame. But it is also shown, paradoxically, that the B.T.E. can itself be dominated by certain strategies, hence there is a direct counterpart to the constituent version of the Lemons Game in its supergame analogue.
OPTIMAL SEARCH FOR OVERTIME WORK1
Authors: McKenna Chris 
Published: May 2007

ABSTRACTA search problem frequently encountered by workers is one in which wage and normal hours elements of employment contracts are uniform across firms in an industry, but opportunities for overtime working vary. Under these circumstances workers, in general, will not be indifferent between alternative contracts and may wish to exercise utility‐maximizing choice by searching out acceptable overtime opportunities. This paper discusses the nature of this decision problem, and the worker's response to various changes in the market environment.
THE SHORT‐RUN EFFECTS OF FISCAL POLICY WITH USEFUL GOVERNMENT EXPENDITURE
Authors: Groenewold Nicolaas 
Published: May 2007

ABSTRACTThis paper examines the short‐run effects of changing government expenditure on output, consumption and employment. It attempts to combine the Public‐Finance and macroeconomic approaches to the analysis of fiscal policy by introducing government expenditure which is ‘useful’ in consumption into an ISLM‐type macro model which is derived from the singleperiod maximizing decisions of households and firms and which includes a government budget constraint.The principal conclusion is that the effects of fiscal policy on output and employment depend on the ‘efficiency’ of government expenditure. The more efficiently government expenditure meets consumption needs, the less effective is fiscal policy to the point where the fiscal‐policy multiplier may be negative.
THE RELATIONSHIP BETWEEN UNEMPLOYMENT AND UNFILLED VACANCIES IN GREAT BRITAIN: AN EXTENDED JOB‐SEARCH, LABOUR TURNOVER VIEW
Authors: Duffy Martyn H. 
Published: May 2007

ABSTRACTThis paper develops a model of the equilibrium unemploymentvacancy relationship, drawing upon concepts in the job searchlabour turnover literature, and uses that model to explain recent shifts in the uv curve for Great Britain. The analysis involves two stages: the estimation of a dynamic employment adjustment equation, and then the solution of the estimated form for the implicit, equilibrium uv relationship at different points in time. In this approach it is possible to attribute shifts in the uv curve to various exogenous factors such as the movement in real wages relative to productivity, external competitiveness, mismatching between jobs and workers, and the replacement ratio.
REDUNDANCY, NATURAL TURNOVER AND THE PARADOX OF STRUCTURAL CHANGE
Authors: Jones D. R. 
Published: May 2007

ABSTRACTThe properties of the labour market are such that moderate employment shifts can be accommodated by, and might even encourage, the natural movement of labour between jobs. But the scale and extent of employment adjustments in recent years has produced an altogether different response. Voluntary movement has fallen dramatically as unemployment has risen. Redundancies have increased in importance in absolute and relative terms. The pace of adjustment in recent years has reduced the natural flexibility of the labour market and has created a serious impediment to the optimal distribution of labour. Moreover, an economic doctrine which emphasizes the importance of flexibility and personal choice in the labour market, has effectively reduced both.
GIFFEN'S PARADOX REVISITED
Authors: Berg Morten 
Published: May 2007

ABSTRACTThe main argument of this paper is that the theoretical definition of Giffen's paradox is ambiguous to the extent that it ignores the initial endowments of the consumer. A Slutsky equation incorporating positive initial endowments is used to discuss the Irish demand for potatoes in 1845‐49, and some conditions to test whether or not the Irish potato was a Giffen good are deduced.
FINANCIAL INNOVATION, INFLATION AND THE STABIHTY OF THE DEMAND FOR BROAD MONEY IN THE UNITED KINGDOM
Authors: Taylor Mark P. 
Published: May 2007

ABSTRACTThis note presents an estimate of a demand function for broad money (£M3) for the UK, 1964ii–1985iv. It shows no sign of structural instability due to Competition and Credit Control, and forecasts well for twenty quarters post‐sample (1981i‐1985iv). A key innovation is the allowance made for financial innovation by including the interest rate available on new, high‐interest chequing accounts in the equation.
DUAL ECONOMY MODELS: RETROSPECT AND PROSPECT
Authors: Kanbur S. M. R. , McIntosh J. 
Published: May 2007

ABSTRACTThe paper surveys recent work on dual economy models starting from the famous 1961 Jorgenson paper and ending with some of the new contributions to the literature on North‐South trade which have the same analytical structure as the dual economy model. Various models are compared with respect to assumptions about asymmetries, speeds of adjustment and factor immobilities. Two important conclusions are noted: dynamic behaviour is often quite sensitive to the ranking of adjustment speeds and the direction of further research should be toward further disaggregation.
AN ILLUSTRATIVE PRODUCTION FUNCTION FOR LABOUR‐MANAGED FIRMS*
Authors: Ireland Norman J. 
Published: May 2007

ABSTRACTAn illustration of the ambiguities in the behaviour of a labour‐managed firm in the long run when both capital and labour are variable is provided by means of an example which can be completely solved. Input demand and output supply functions are derived from a suggested production function. The special case of a homothetic production function is yielded by one of five parameter sets identified.
A SYSTEMS APPROACH TO THE DEMAND FOR ALCOHOL AND TOBACCO
Authors: Jones Andrew M. 
Published: May 2007

ABSTRACTThis paper adopts a systems approach to estimate budget share equations for four categories of alcoholic drinks and for tobacco, using quarterly expenditure data for the period 1964 to 1983. The emphasis is on the importance of the tolerance effects of addiction and on the smoker's participation decision in correctly specifying the model of demand. The model makes explicit recognition of a separate participation decision and the estimates suggest that there is something to be gained by introducing variables to indicate changes in the distribution of income and the demographic structure of the population.
UNCERTAINTY AND THE POSITIVE THEORY OF THE PUBLIC ENTERPRISE*
Authors: Fraser R. W. 
Published: May 2007

ABSTRACTThis paper extends the analysis of Rees (1984a) of a public enterprise pursuing a size‐related objective in the face of uncertain demand to a situation where its managers may be risk neutral or risk averse and where the public enterprise may produce more than one output. The optimal pricing policy of the public enterprise is analysed and the importance of not only the expected profit constraint but also the attitude to risk of the public enterprise in determining its relative prices is demonstrated.
USLNG FUTURES INSTRUMENT PRICES TO TARGET NOMINAL INCOME
Authors: Sumner Scott 
Published: May 2007

ABSTRACTNominal GNP targeting offers the advantage of allowing monetary policymakers to offset velocity shocks and cushion the impact of autonomous price shocks. Instability associated with the recognition lag can be minimized by fixing a futures instrument price linked to nominal GNP. In fact, if financial markets arc efficient, then a policy of fixing futures instrument prices would seem preferable to a policy feedback mechanism for any economic aggregate target which involves a recognition lag. This conclusion is robust with respect to a wide range of macroeconomic models.
ON THE EQUIVALENCE OF ALTERNATIVE MEASURES OF THE ELASTICITY OF SUBSTITUTION
Authors: Segerson Kathleen , Ray Subhash C. 
Published: May 2007

ABSTRACTThis paper provides a necessary and sufficient condition for the equivalence of three alternative measures of the elasticity of factor substitution: the Allen‐Uzawa partial elasticity, the shadow elasticity and the general two‐factor two‐price elasticity.
SELF EMPLOYMENT AMONG GRADUATES
Authors: Dolton P. J. , Makepeace G. H. 
Published: May 2007

ABSTRACTAn econometric model of the self employment decision is estimated for a large sample of UK graduates. Although the earnings distributions suggest that there are incentives to be self employed, the difference in the predicted earnings that an individual receives in the self employed and employed sectors is not a significant influence on the choice of sector and the decision depends on personal and social factors. Policies based on changing the pecuniary returns may not encourage the growth of self employment among graduates. The econometric results also suggest that the self employed are a non‐random subset of the graduate workforce., revision accepted August 1989
FACTOR MIGRATION AND INCOME DISTRIBUTION IN SOME DEVELOPING COUNTRIES
Authors: Clark Don P. , Thompson Henry 
Published: May 2007

ABSTRACTA three factor, two sector general equilibrium model is used to determine long run income distributional impacts of factor supply changes associated with international migration in developing and newly industrializing countries. Factor intensity rankings among three factors (capital, skilled and unskilled labor) between two industries (agriculture and manufacturing‐services) play a critical role in determining which factors are natural friends with respect to migration. A result common to all countries is observed friendship between capital and unskilled labor: reducing (increasing) the supply of one will lower (raise) payments to the other.
ON INTERNATIONAL MIGRATION AND THE SOCIAL WELFARE FUNCTION
Authors: Quibria M. G. 
Published: May 2007

ABSTRACTIn defining optimum population, economists have used two distinct concepts of the social welfare function: the Millian and the Benthamite. Although analytically the issue of the welfare impact of international migration is closely related to the concept of optimum population, the migration analysis has been based almost exclusively on the Benthamite welfare function. As its point of departure, the present note explores the implications of the alternative Millian welfare function for migration analysis.An interesting aspect of the results derived from the present exercise is that they are in sharp contradiction with the results based on the Benthamite social welfare function. This highlights the sensitivity of the results to the welfare criteria used and the need for greater caution in policy formulation.
COMPARATIVE ADVANTAGE: ASSESSING APPROPRIATE MEASUREMENT TECHNIQUES
Authors: Webster Allan 
Published: May 2007

ABSTRACTThis note considers the impact of recent generalizations of trade theory upon indices of‘revealed’comparative advantage. In particular, defining economic activities in terms of net output meets some of the theoretical objections to such measures. For two types of measure — trade/production and net export indices — such a basis for calculation has only slight consequences and, therefore, suggests such objections to not be significant in practice. For a third type of measure — export share based indices — these theoretical objections have more force in practice.
AN ECONOMIC ANALYSIS OF PERSONAL DEBT
Authors: Cameron S. , Golby D. 
Published: May 2007

ABSTRACTThe treatment of debt in conventional economic theory is considered and compared with recent writings on the economics of self‐control and cognitive dissonance. The paper considers factors influencing the level of debt, conditional on debt being greater than zero and goes on to report a multivariate analysis of a sample of individuals in this position. The data comes from the case records of money advisers in Citizens Advice Bureaux (CABS) in Staffordshire. The amount of debt is found to be correlated with indicators of life cycle and a measure of the exercise of self‐control.
REASSESSING THE IRISH POUND REPORT OF 1804 1
Authors: Gráda Cormac Ó 
Published: May 2007

ABSTRACTThe 1804 report of the Select Committee on the Irish Currency remains a somewhat neglected classic in the history of economics. Its forceful statement of the classical monetary approach towards exchange rate determination and the balance of payments anticipates the main findings of the more famous Bullion Report of 1810. This paper reassesses the empirical underpinnings of the Report and associated literature.Your Committee must refer to the confirmation and sanction which all their reasonings receive from the labours of the Committee…appointed…to examine into the causes of the great depreciation of the Irish exchange with England in 1804. [The Bullion Report, 1810]
A TALE OF TWO REVOLUTIONS: INTERNATIONAL CAPITAL FLOWS 1789–1819 *
Authors: Neal Larry 
Published: May 2007

ABSTRACTOne of the phenomena that accompanied the advance of the French Revolution and its armies throughout the European Continent in the 1790s was the flight of capital. Merchants and guild artisans, as well as aristocrats, had to turn to merchant bankers and use the existing international capital markets to remove the liquid part of their property beyond the reach of Revolutionary arms. There is good reason to believe that they were successful to a much greater degree than previously suspected, largely because the international capital markets of the time were larger and better organized than previously thought. Moreover, these capital movements from the Continent to Britain explain succinctly why the British Industrial Revolution took place during this period despite the large pressures of war expenditures and British government subsidies to Continental allies taking place at the same time. The repatriation of capital to the Continent from England after peace also helps explain the depression of British industry and incomes from 1815 through the financial crisis of 1825, although the role of British speculators was important too.
DIFFERENCES IN NEEDS AND ASSESSMENT OF INCOME DISTRIBUTIONS*
Authors: Coulter Fiona A. E. , Cowell Frank A. , Jenkins Stephen P. 
Published: May 2007

ABSTRACTThe literatures on the assessment of income distributions and on differences in needs are not well integrated. The theoretical literature providing results about evaluations and comparisons of income distributions does not, in the main, consider the implications of non‐income differences between income‐receiving units, while the equivalence scale literature providing results about the relationship between living standards, incomes and household composition does not consider distributional implications. The aim of this survey is to go some way towards integrating these separate literatures; to consider how to evaluate and compare income distributions while at the same time taking explicit account of differences in household composition.
Studies on an Astomatous Ciliate From a Fresh‐water Limpet, Ferrissia peninsulae
Authors: KOZLOFF EUGENE N. 
Published: May 2007

An astomatous holotrichous ciliate inhabiting the excretory tubule of the freshwater gastropod Ferrissia peninsulae is believed to be conspecific with Dogielella renalis Kay, found originally in the renal organ of an unidentified species of another pulmonate genus, Physa. The organization of the ciliary system and the arrangement of the contractile vacuole pores suggest that it is closely related to members of the hymenostomatous genus Tetrahymena, and that it has evolved from a ciliate of this general type through loss of the cytostome and cytostomal membranelles.Because it is not possible at present to state with certainty that this ciliate is congeneric with D. sphaerii, the genotype of the genus Dogielella Poljanskij, a new genus, Curimostoma, is established for it. Curimostoma is referred provisionally to the family Tetrahymenidae.
Enzyme Systems in Tetrahymena pyriformis S. VI. Urea Formation and Breakdown*
Authors: SEAMAN GERALD R. 
Published: May 2007

Cell‐free extracts of Tetrahymena pyriformis S synthesize citrulline from ornithine, and arginine from citrulline. The extracts also show arginase activity.Urease activity at various pH values has maxima at both pH 5.6 and 7.4. This points to two distinct enzymes. The presence of urea in ciliate cultures during early stages of growth, and its absence during the stationary phase of cultures, correlate with the shift in pH of the culture media and with the activity of the “alkaline” urease at various pH values.
Transfaunation Studies on the Host Specificity of the Enteric Protozoa of Rodents*
Authors: SAXE L. H. 
Published: May 2007

Breeding colonies of protozoa‐free laboratory rats (Rattus norvegicus) and golden hamsters (Mesocricetus auratus) were established by early weaning or by drug treatment. Attempts were made to transfaunate the enteric protozoa of various rodents to protozoa‐free progeny of these colonies. Efforts to transfer the fauna of guinea pigs (Cavia porcellus) to rats and hamsters have failed and indicate that this fauna is physiologically isolated as well as morphologically distinct from that of other laboratory rodents. The faunas of rats and hamsters appear to be morphologically identical and freely interchangeable. That certain of the species found in rats and hamsters also occur in the mouse (Mus musculus) is indicated by successful transfaunations: mouse to rat and hamster. The suggestion is made that the fauna of the mouse and rat is indigenous but that the fauna of laboratory hamsters may have been acquired since domestication.Hexamastix muris from Neotoma fuscipes and Trichomonas microti from Microtus pennsylvanicus have been transfaunated to rats. Other enteric protozoa from these hosts and also from Marmota monax and Dipodomys merriami have not established themselves in rats and, if morphological differences cannot be found, should be considered biological races of their counterparts in the fauna of laboratory rodents.Species of lumen‐dwelling enteric protozoa should be based upon morphological distinctions and not upon host specificity. The latter, as demonstrated by these experiments, is not rigidly determined.
The Genus Polytomella*
Authors: PRINGSHEIM E. G. 
Published: May 2007

SUMMARY. Six species of Polytomella were isolated in pure culture from ecologically very different places where they may have only survived as cysts, but one of them was found in enormous numbers between rotting hemp in Italy. This shows that apparent rarity of the members of the genus may be caused by the restricted occurrence of suitable conditions which are characterized by abundance of organic nutrients and a certain low degree of acidity.The species differ only in minor morphological features, except for one of them which has for instance an eye‐spot. This is also the only one the nutrition of which deviates from that of the rest.Under auxotrophic conditions with acetate as the only organic nutrient except thiamine, and in media containing acetate, peptone and yeast extract, growth is satisfactory, but it becomes luxuriant in yeast digest even without addition of an independent energy and carbon source. Starch is then still deposited but to some extent replaced by oil.The production of cysts, which survive desiccation, is an important ecological feature.