bluuebunny/crossref_metadata_2025_split huggingface dataset:
How the P* Model Rationalizes Monetary Targeting: A Comment on Svensson
Authors: Seitz Franz , Tödter Karl-Heinz 
Published: March 2003

Abstract
In this comment, we answer the question posed in Svensson's (2000) paper `Does the P* Model Provide any Rationale for Monetary Targeting?' - in contrast to him - in the affirmative. We argue that a strategy of monetary targeting can be rationalized within the P* framework. Furthermore, we demonstrate that money growth targeting is a special form of inflation forecast targeting based on a `limited' information set. In contrast to `full information' inflation forecast targeting, monetary growth targeting is likely to be more robust under changing conditions of the real world.
Monetary Policy and Forecasts for Real GDP Growth: An Empirical Investigation for the Federal Republic of Germany
Authors: Kirchgaässner Gebhard , Savioz Marcel 
Published: March 2003

Abstract
Using quarterly data for the Federal Republic of Germany, we generate four-quarter-ahead forecasts for real GDP growth. Throughout the 1970s and 1980s, other monetary indicators like real M1 or short-run interest rates clearly outperform forecasts which are based on interest rate spreads. This holds for within as well as for ex-post predictions. The same holds for the development after 1992. Moreover, it is shown that simple forecasts based on M1 or on short-run interest rates outperform the common biannual GNP forecasts of the group of German economic research institutes.
Accident Law: Efficiency May Require an Inefficient Standard
Authors: Goerke Laszlo 
Published: March 2003

Abstract
In a world with risk-neutral agents in which accidents occur with a positive probability, liability rules will only induce efficient behaviour if these rules impose the full (marginal) costs of an action on the parties. However, institutional restrictions or bilateral activity choices can prevent the full internalization of costs. A mechanism is proposed which guarantees an efficient outcome: monetary fines which are not related to the occurrence of an accident. Such a mechanism requires individuals to violate the standard of care in order to trigger the fine payments. Hence, efficiency requires an excessive standard.
Welfare and Macroeconomic Effects of the German Pension Acts of 1992 and 1999: A Dynamic CGE Study
Authors: Hirte Georg 
Published: March 2003

Abstract
The German Pension Act of 1992 raises the mandatory retirement age while the Act of 1999 adjusts pension benefits to demographic changes. To examine welfare and macroeconomic effects of these reform schemes, we have carried out a dynamic CGE study. The model used is an enlarged version of the Auerbach- Kotlikoff model with endogenous retirement decisions, unemployment, age-dependent rates of unemployment, health, and long-term care insurance. The simulation is performed in two stages: first, the effects of the population decline in Germany are computed ignoring the reforms and, second, the effects of the reform schemes are examined and compared with the benchmark case. The results suggest that the Act of 1992 implies welfare gains while suspending the Act of 1999 induces welfare losses.
Recent Challenges to the Classical Gains-from-Trade Proposition
Authors: Kemp Murray C. , Shimomura Koji 
Published: March 2003

Abstract
The classical gains-from-trade conjecture was finally given a thorough Arrow±Debreu proof in 1972. Since then, the proposition has been repeatedly challenged. Some of the challenges rest on grounds which in no respect violate Arrow±Debreu assumptions. Those challenges are therefore without foundation. The remaining challenges rest on the assertion that some of the Arrow±Debreu assumptions are unnatural and unnecessarily restrictive or on the imposition of artificial restrictions on the set of permissible compensatory transfers. We conclude that none of the challenges can be sustained.
Reform Unleashed Korean Growth
Authors: Wan Henry Y. 
Published: March 2003

Abstract
Before the reform in the 1960s, twin vicious circles perpetuated the shortages of foreign exchange and labor skill, and prevented the Korean economy from realizing its considerable growth potential. The breakthrough came when the Japanese labor shortage facilitated Korean exports, after economic normalization between the two countries. The reformed institutions reduced rent-seeking and refocused Korean managerial efforts to pioneering activities. The Korean takeoff scenario is a shared theme among all four Asian newly industrialized economies cited by Lucas (1988) as showcases.
‘Das grosse Turnierfeld, auf dem sie sich versuchen’ Erich Fried’s Work for German Radio
Authors: Lawrie Steven W. 
Published: March 2003

The following article presents and discusses three little‐known radio plays by the exile writer Erich Fried. Izanagi und Izanami, Die Expedition and Indizienbeweise are examined within the overall context of Fried’s other work, including his translations and reworkings for West German radio. In the 1960s Fried was new to the genre of drama and his radio plays demonstrate a process of experimentation similar to that present in his poetry and prose works. Each of Fried’s radio dramas is radically different both in theme and form.The sources of and inspiration for these radio dramas are identified and the creative process is examined. The study devotes greatest attention to arguably the most successful of these experiments, Izanagi und Izanami. Like other writers such as Brecht, Fried was attracted to the potential of ancient Japanese literature, and draws on a variety of Japanese sources, adapting excerpts to the demands of his own radio play.Contrary to Fried’s expectations, his radio plays did not lead to works for the stage. They nevertheless prove that he had mastered the genre and hence constitute an important and hitherto neglected phase of experimentation in his career.
‘The unforgettable forgotten’: The Traces of Trauma in Herta Müller's Reisende auf einem Bein
Authors: Haines Brigid 
Published: March 2003

Trauma can be read as a metaphor of the (post)modern condition, particularly in a German context. This is because it is associated with aporias in memory and understanding which are nevertheless meaningful because they arise from and speak of specific historical circumstances. This article places Herta Müller's 1989 Berlin novel Reisende auf einem Bein within the context of twentieth‐century trauma literature. I read the protagonist, Irene, as a traumatised individual, whose experience (in Ceauşescu's Romania, then as an ethnic German immigrant in West Berlin) is locatable, but the causes of whose trauma elude representation because they are not synthesisable into frameworks of understanding. Irene comes to accommodate her trauma by inhabiting her surroundings and renouncing control – while reasserting agency. Thus the structure of trauma provides a way out of the perceived paralysis of postmodern constructions of subjectivity. Finally the novel bears witness to ‘the unforgettable forgotten’.‘Das Überleben ist kein Leben mehr und dennoch das einzig mögliche Leben.’(Alexander García Düttmann)‘Whenever one represents, one inscribes in memory, and this might seem a good defense against forgetting. It is, I believe, just the opposite.’(Jean‐François Lyotard)‘Nicht Sprache ist Heimat, sondern das, was gesprochen wird.’(Jorge Semprun)
Economic Effect of Endangered Species Preservation in the Non‐Metropolitan West
Authors: DUFFY‐DENO KEVIN T. 
Published: March 2003

ABSTRACTA common argument advanced in the non‐metropolitan counties of the US West is that the Endangered Species Act (ESA) can have, and has had, a devastating effect on local economies. However, to date, there has not been a systematic empirical analysis of the ESA's effect on local economies. This paper reports on such an analysis. Based on a sample of all 333 non‐metropolitan counties in the eleven‐state West, the statistical effect of the listing of threatened and endangered species on county employment growth between 1980 and 1990 is estimated. The paper's primary finding is that the hypothesis that endangered species listing has had a negative effect on the non‐metropolitan county economies of the US West is not supported by the data.
The Comparative Development Experience of Mexico, the Philippines and Taiwan from a Political Economy Perspective
Authors: RANIS GUSTAV 
Published: March 2003

ABSTRACTGiven the dramatic divergence of postwar performance across the developing world despite almost half a century of accumulated technical expertise in the advice offered by the academic and donor communities, it has become increasingly clear that a study of differential development patterns over time requires an analysis of not only what happened but also why it happened. This paper seeks to bridge this gap by attempting to endogenize policy choice in different developing country settings in order to elucidate why similar policy advice is so often differently received. It is my basic premise that a country's initial conditions—its natural resource endowment, organic nationalism, and ability to attract foreign capital—explain why some LDCs pursue a relatively linear path toward “modem‐growth” organizational characteristics, while others exhibit policy oscillations en route. A theoretical framework is developed to trace such causal relationships as they play themselves out in a political economy context over time. The policy responses to external shocks of Mexico, the Philippines and Taiwan, three countries differing in terms of various dimensions of their initial conditions, are then examined, along with their consequent performance over the past thirty years in order to empirically test the hypotheses laid out in the framework.
A National Profile of Research Degree Awards: Innovation, Clarity and Coherence
Authors: Bourner Tom , Bowqden Rachel , Laing Stuart 
Published: March 2003

In 1993 the Government expressed its concern that:‘the traditional PhD is not well‐matched to the needs of careers outside research in academia or an industrial research laboratory’ (OST, 1993, p. 3).This government concern appeared to encourage innovation in developing the doctorate to meet a wider range of career needs.By contrast, in 1996, the Harris Committee Report recommended that standardisation of the forms and nomenclature of postgraduate courses, including research degree courses, ‘could bring national coherence and hence clarity in an international marketplace’ (Harris, 1996, p. 38).In this article we have developed a national profile of research degree awards using data from individual universities. This profile allows us to explore empirically issues of variety and standardisation in research degrees and seek ways of reconciling the need for innovation with the need to protect coherence and clarity.
Quality Assurance: Meeting the Needs of the User
Authors: Randall John 
Published: March 2003

Both students and employers, the main users of the higher education system, need to have confidence that qualifications attest accurately to past achievement and current ability. The standards represented by higher education qualifications need to be explicit and, in an employment market that is increasingly global, qualifications must have a universal currency. The frameworks of higher education qualifications published recently in the United Kingdom provide explicit benchmarks, and do so in a manner that enables international comparisons to be drawn.Users need assurance that the programmes of study leading to qualifications are effective in enabling the learner both to achieve, and to demonstrate achievement of, the standards embodied in intended learning outcomes. Students in particular want to know that the education in which they are investing will meet their expectations. However, proposed changes in quality assurance of higher education suggest an unwillingness on the part of institutions to demonstrate that the standards embodied in the qualifications framework are being delivered. The interests of the providers appear to be given supremacy over those of the users.
The Merchant Adventurers of England: their origins and the Mercers' Company of London
Authors: Sutton Anne F. 
Published: March 2003

Abstract
The history of the adventurers, or overseas merchants, trading to the Low Countries is taken back to their earliest privileges, those from Brabant 1296–1315, to the establishment of their fraternity of St. Thomas c.1300, and to their common origin with the staplers. This discounts the theories that they owed their beginnings to the Mercers’ Company of London. The rise of the London mercers to an increasingly dominant position among the Adventurers to the Low Countries is traced from c.1400, and their records, the frequently misleading acts of court, are re-examined. The theory that the Company of the Merchant Adventurers of England was created at the end of the fifteenth century is similarly discounted.
Nursing Home Case‐Mix Reimbursement in Mississippi and South Dakota
Authors: Arling Greg , Daneman Barry 
Published: March 2003

Objective.To evaluate the effects of nursing home case‐mix reimbursement on facility case mix and costs in Mississippi and South Dakota.Data Sources.Secondary data from resident assessments and Medicaid cost reports from 154 Mississippi and 107 South Dakota nursing facilities in 1992 and 1994, before and after implementation of new case‐mix reimbursement systems.Study Design.The study relied on a two‐wave panel design to examine case mix (resident acuity) and direct care costs in 1‐year periods before and after implementation of a nursing home case‐mix reimbursement system. Cross‐lagged regression models were used to assess change in case mix and costs between periods while taking into account facility characteristics.Data Collection.Facility‐level measures were constructed from Medicaid cost reports and Minimum Data Set‐Plus assessment records supplied by each state. Resident case mix was based on the RUG‐III classification system.Principal Findings.Facility case‐mix scores and direct care costs increased significantly between periods in both states. Changes in facility costs and case mix were significantly related in a positive direction. Medicare utilization and the rate of hospitalizations from the nursing facility also increased significantly between periods, particularly in Mississippi.Conclusions.The case‐mix reimbursement systems appeared to achieve their intended goals: improved access for heavy‐care residents and increased direct care expenditures in facilities with higher acuity residents. However, increases in Medicare utilization may have influenced facility case mix or costs, and some facilities may have been unprepared to care for higher acuity residents, as indicated by increased rates of hospitalization.
Relationship between Regulatory Status, Quality of Care, and Three‐Year Mortality in Canadian Residential Care Facilities: A Longitudinal Study
Authors: Bravo Gina , Dubois Marie‐France , De Wals Philippe , Hébert Réjean , Messier Lise 
Published: March 2003

Objectives. To compare the mortality rate in regulated and unregulated facilities, controlling for confounding variables, and investigate the effect of care quality on residents' length of survival.Data Sources/Study Setting. At baseline, subjects were assessed in their living environment with respect to their functional autonomy, cognitive abilities, and quality of care. Vital status, disease‐related information, and hospitalization data were retrieved three years later from the subjects' medical files.Study Design. A three‐year follow‐up study of 299 residents from 88 long‐term care facilities located in the province of Quebec, Canada. The effect of regulatory status and quality of care on length of survival was investigated by means of multivariable Cox proportional hazards regression models, from both traditional and competing risks perspectives.Principal Findings. Controlling for age, comorbidity, and baseline functional abilities, a resident's length of survival is not significantly influenced by the regulatory status of the facility in which he or she lived at baseline. However, residents with poor quality ratings at baseline had shorter survival times than those provided with good care. Median survival was 28 months among residents classified as receiving inadequate care compared to 41 months for those adequately cared for (p=0.0217).Conclusions. The study suggests that quality of care has a much stronger influence on resident outcomes than regulation per se. This finding underscores the relevance of testing innovative interventions aimed at improving the quality of care provided in long‐term care facilities, regardless of their regulatory status.
Strategic FDI and industrial ownership structure
Authors: Ellis Christopher J. , Fausten Dietrich 
Published: March 2003

We argue that different industrial ownership structures generate different incentives for firms to engage in FDI. A comparison is made between (partially) cooperative structures such as the Japanese kieretsu and Korean chaebol systems and competitive structures such as U.S. firms. It is found that ownership structure has significant implications for the probability of initial FDI. Whether or not a cooperative structure is also coordinated turns out to be crucial in predicting FDI behaviour. This has further implications for the optimal FDI incentives of potential host countries and for how empirical studies might be designed. JEL classification: F10, F21, F23 Stratégie d’investissements directs à l’étranger et structure de propriété de l’industrie. Les auteurs suggèrent que des structures différentes de propriété dans l’industrie engendrent des incitations diverses pour les entreprises à investir directement à l’étranger. On fait des comparaisons entre des structures partiellement coopératives comme celles des kieretsus au Japon et des chaebol en Corée, et des structures concurrentielles comme celles qui existent aux Etats–Unis. Il appert que la structure de propriété a un impact significatif sur la probabilité de faire initialement un investissement direct à l’étranger. Le fait que la structure de coopération engendre aussi une coordination s’avère d’une importance centrale pour prédire le comportement d’investissement direct à l’étranger. Voilà qui a des implications pour le design des incitations à investir par les pays hôtes potentiels, et pour le design des études empiriques de ces phénomènes.
Profit taxes and the growth of fringe firms
Authors: Vigneault Marianne , Wen Jean–François 
Published: March 2003

In this paper we examine the optimal taxation of corporate profits in a multi–period limit pricing model where a dominant firm faces expansion by a competitive fringe. The optimal policy requires tax rates to vary both intertemporally and across firm sizes, and balances the benefit of fringe growth in eroding the market power of the dominant firm and the cost of displacing the dominant firm’s output with the higher cost output of the fringe. The results are relevant for assessing the policy of giving preferential tax treatment to small firms, as practised by several OECD countries. JEL Classification: H32, L11 Impôts sur les profits et croissance des entreprises périphériques. Ce texte examine la fiscalité optimale des profits des sociétés dans un modèle de tarification limite à plusieurs périodes quand une entreprise dominante fait face à l’expansion d’entreprises périphériques qui la concurrencent. La politique optimale requiert des taux d’imposition qui varient à la fois dans le temps et selon la taille des entreprises, et cherche un équilibre entre les avantages d’une croissance à la périphérie qui entame le pouvoir de l’entreprise dominante, et le coût d’un déplacement de la production de l’entreprise dominante vers des entreprises périphériques dont les coûts de production sont plus élevés. Les résultats de l’analyse sont pertinents pour l’évaluation des politiques accordant un traitement fiscal préférentiel aux petites entreprises, comme c’est le cas dans plusieurs pays de l’OCDE.
WRITING THE NATION: THE EMERGENCE OF EGYPT IN THE MODERN ARABIC NOVEL
Authors: Shalan Jeff 
Published: March 2003

AbstractThis essay focuses on the oft-neglected relationship between the beginnings of the modern Arabic novel and the rise of Arab nationalism. Taking George Antonius's classic work on the nahda as my point of departure, I first argue for the historical and ideological significance of this relationship and suggest the reasons for its neglect. I then turn to a close comparative analysis of two seminal novels, Muhammad Husayn Haykal's Zainab (1913) and Tawiq al-Hakim's 'Awdat al-ruh (Return of the Spirit [1933]) —bookends of a sort for Egypt's, and the Arab world's, first phase of cultural nationalism. I show how these works, in effect, "announce" their own modernness by encoding in their narratives signs of the emergent nationalist discourse of the time; and I argue that an attentive reading of such texts can thereby offer valuable insight into the rhetoric of nationalism, as well as its contradictions, elisions, and limits as a guiding agent of sociopolitical change. In particular, this essay explores how the narrative articulation of the nation in each novel implicates a male intellectual elite as its primary agent while working to contain the potentially disruptive forces of class and gender that mark its context.
Myeloproliferative disease in transgenic mice expressing P230 Bcr/Abl: longer disease latency, thrombocytosis, and mild leukocytosis
Authors: Inokuchi Koiti , Dan Kazuo , Takatori Miyuki , Takahuji Hidemasa , Uchida Naoya , Inami Mitsuharu , Miyake Koichi , Honda Hiroaki , Hirai Hisamaru , Shimada Takashi 
Published: March 2003

Abstract
P230 Bcr/Abl has been associated with indolent myeloproliferative disease (MPD). We generated transgenic mice expressing P230Bcr/Abl driven by the promoter of the long terminal repeat of the murine stem cell virus of the MSCV neo P230 BCR/ABL vector. Two founder mice exhibited mild granulocytosis and marked thrombocytosis and developed MPD. The disease of one founder mouse, no. 13, progressed to extramedullary myeloblastic crisis in the liver at 12 months old. The other founder mouse, no. 22, was found to have chronic-phase MPD with large populations of megakaryocytes and granulocytes in an enlarged spleen. The transgenic progeny of no. 22 clearly exhibited MPD at 15 months old. These results showed that P230Bcr/Abl had leukemogenic properties and induced MPD. The phenotype of the MPD caused by P230Bcr/Abl was characterized by mild granulocytosis, a high platelet count, infiltration of megakaryocytes in some organs, and a longer disease latency compared with the MPD caused by P210Bcr/Abl. (Blood. 2003;102:320-323)
The role of internal financial sources in firm financing and investment decisions
Authors: Vogt Stephen C. 
Published: March 2003

AbstractA set of simultaneous equations for external financing and investment spending is developed that tests the pecking order hypothesis (Myers, 1984) against a partial stock adjustment model (Jalilvand and Harris, 1984 and Taggart, 1977). Consistent with a partial adjustment model, firms appear to adjust slowly to long‐run financial targets. However, additional financing needs follow a pecking order. This study also supports work by Fazzari, Hubbard, and Petersen (1988) and others showing that internal funds have an important influence in firm investment decisions. Finally, pecking order behavior is most (and partial adjustment behavior is least) pronounced in firms that have low long‐run dividend payout policies. This suggests that long‐run dividend policy reflects the extent to which firms face differential costs of external finance and liquidity constraints.