bluuebunny/crossref_metadata_2025_split huggingface dataset:
Linear Transformations, Error Correction, and the Long Run in Dynamic Regression
Authors: Banerjee Anindya , Dolado Juan J. , Galbraith John W. , Hendry David F. 
Published: October 2003

Abstract
The focus in this chapter is on the properties of linear autoregressive‐distributed lag (ADL) models for stationary data processes, in order to understand later transformations in non‐stationary models. Various equivalent transformations of ADL models are considered, especially the error‐correction, Bewley and Bardsen forms, and the estimation of long‐run multipliers (and their variances) from these models is discussed. The role of expectational variables in inference about long‐run multipliers is also investigated and potential problems are shown to be related to the general issue of the absence of weak exogeneity for the parameters of interest.
Testing for a Unit Root
Authors: Banerjee Anindya , Dolado Juan J. , Galbraith John W. , Hendry David F. 
Published: October 2003

AbstractMethods of testing for a unit root in an observed series are described in this chapter. Both parametric regression tests and non‐parametric adjustments to these test statistics are considered, and tables of critical values for commonly used tests are given. The chapter also uses functionals of Wiener processes to describe the asymptotic distributions of important test statistics.
Regression With Integrated Variables
Authors: Banerjee Anindya , Dolado Juan J. , Galbraith John W. , Hendry David F. 
Published: October 2003

AbstractThe chapter demonstrates the special problems with inference that arise, for example, in orthogonality tests for rational expectations, from the presence of integrated variables. Using results from Sims, Stock and Watson (1990), we show how a proper consideration of the deterministics, the orders of integration of the variables, and dynamic specifications that take into account any co‐integrating relationships among the variables, enables the use of many of the standard distributional results to be restored. Our analysis is illustrated by a number of informative examples.
A Respectable Auditory
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
In the aftermath of the ’45 Rising, the jurist and man of letters, Lord Kames, recruited Adam Smith to come to Edinburgh, Scotland's capital—notable for its superb views, historic buildings, and noisome streets— to deliver to young professionals, from 1748–51, freelance courses of lectures on rhetoric and criticism. Smith's course included a theory of communication, distinguishing between scientific discourse based on reason and the rhetorical kind meant to persuade by moving the passions. Another part of the course was devoted to the origin and progress of language, an example of the philosophical or natural type of history prevalent among the Scottish literati, which Smith adopted for all his works, moral, political, and literary.
Teacher
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Smith wrote that his thirteen years as a Glasgow professor formed the most useful, and, therefore, the happiest and most honourable period of his life. His students joked about his absent‐mindedness and loved him for his benevolence and learning and also for the care he took over the delivery of his lectures. In due course, they disseminated Smith's ideas. Some were sons of local merchants, from whose fathers Smith learned about Glasgow's growing wealth from trading and manufacturing activities, then reflected on related moral and economic problems and offered solutions. Others were from foreign countries: e.g. S.E. Desnitsky and I.A. Tret’yakov, sent abroad by Catherine the Great to complete their education, who then assisted her reform programme in Russia, by passing on Smith's liberal economic policy advice, at least eight years before it was published in WN.
The Making of The Theory of Moral Sentiments
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
The capstone of Smith's years as a professor was the publication of TMS as a direct challenge to the egoistic theories of Hobbes and Mandeville, and Rousseau. In defining what virtue is and why we ought to act virtuously, Smith offers a sophisticated extension of the arguments of his teacher Hutcheson and a good friend, Hume, to the effect that our moral judgements are based on our sentiments, principally those of justice, benevolence, prudence, and propriety. The chief component of the system is the role of sympathy in human transactions, through which we naturally judge the motives and conduct of others, and then ourselves. Another main component in the system is the impartial spectator, a higher self as it were, identified as the source of our normative judgements. A further important part of the book is rejection of utility as an explanation of the origin of moral rules, but acceptance of it embodied in contemplative utilitarianism, which reveals that the selfish rich, gratifying their desires, are led by an invisible hand to divide with the poor the necessaries of life, almost in the measure that equal distribution would have ensured.
Criticism of The Theory of Moral Sentiments
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Here, we follow criticism of TMS by contemporaries, for example, Hume, who discerned that sympathy was the ‘Hinge’ of the book's system, but argued that Smith had not proved that all kinds of sympathies are necessarily agreeable, and that it was necessary to bring in a way of accounting for ‘disagreeable sympathy.’ This pushed Smith to make changes for the second edition of 1761, explaining more fully the moral psychology of sympathy and the role of imagination in the emplacement of the impartial spectator. A negative view of TMS came from the Common Sense philosopher, Thomas Reid, who argued that Smith's system did not offer a standard of virtue for measuring the emotions of the moral actor or the sympathy of the spectator, and that it was reason that informed our moral judgements. This criticism of Smith impressed the patrons of the Glasgow Chair of Moral Philosophy, including Kames, and Reid was chosen as Smith's successor, when he left Glasgow in 1764 to become a travelling tutor to the third Duke of Buccleuch.
Economic Theorist as Commissioner of Customs
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Smith's correspondence of this period of his life suggests that he believed that raising a revenue in a non‐discriminatory way did not gravely affect the tendency towards price equilibrium on which economic efficiency depends. There was also the necessity of providing for justice, education, and public works in Scotland. Smith was consequently willing, on the grounds of utility, to regulate and enforce the mercantile system, even though he viewed some of its features as unwise and unjust, for example, prohibiting certain imports and punishing smugglers harshly. Smith's activities as an administrative judge and director of import police are assessed, and highlights of his service are described, such as his coastguard command role in gathering intelligence about the entry of John Paul Jones with units of the American navy, supported by France, into the Firth of Forth in September 1779. As well, his views of this time about the issue of free trade for Ireland are examined.
Visions of the Firm: A Critical Survey of Leading Approaches to the Firm
Authors: Fransman Martin 
Published: October 2003

Abstract
The first purpose of this chapter is to demonstrate that many of the best‐known approaches to the firm in economics have in common a starting point that sees the firm as a response to information‐related problems. The second is to critically review some of these approaches on the basis of the internal structure of their arguments. The third is to analyse some of the limitations of the ‘information‐related paradigm’ in the light of the distinction that it is argued must be drawn between ‘information’ and ‘knowledge’. Finally, the chapter proposes some additional approaches to the firm that merit further exploration.
A Vision of the Firm and the Evolution of Japanese Computer and Communications Firms
Authors: Fransman Martin 
Published: October 2003

AbstractA conceptualization (theory) of the firm is developed in order to analyse the evolution of the major Japanese computer and communications companies: Fujitsu, NEC, Hitachi, Toshiba, Mitsubishi Electric, and Oki. Particular attention is paid to the paradox presented by these companies, which feature strongly in the world's top ten in terms of total sales but which, unlike Japanese consumer electronics and automobile companies, are dominant in very few markets outside Japan. According to this conceptualization, a firm may be analysed in terms of four closely related dimensions: competences––the firm's activities and knowledge––define what that firm knows and can do; organization determines how the firm's competences are coordinated and controlled in order to produce a competitive output; vision refers to the set of beliefs that guide the firm's leaders in deciding what the firm should be doing and where it should be going; and selection environment is the sum total of factors external to the firm (and to the population of firms) that determine whether the firm will prosper or not.
Fiscal Policy and Trade Policy
Authors: Joshi Vijay , Little I. M. D. 
Published: October 2003

Abstract
The reforms of the tariff and trade controls are the basis of this chapter. Tariff reform has direct consequences on the rest of the economy leading to an analysis of the fiscal policy and domestic taxation. It examines the changes in direct and indirect taxes imposed by the central states. It also examines the continuing role of subsidies, using agriculture as an example, as a negative effect on the economy. The authors analyse the changes and suggest ways to improve the economic situation.
Organizational Integration and Competitive Advantage: Explaining Strategy and Performance in American Industry
Authors: Lazonick William , West Jonathan 
Published: October 2003

Abstract
This paper proposes an analytical framework that can comprehend how and to what extent the interaction of institutions, industries, and enterprises has contributed to the decline of US competitiveness. The analytical framework builds on the notion that, ultimately, competitive advantage depends on the strategies and structures of the business enterprises on which Americans rely for most of the nation's productive investments. It is argued that, over time, to gain sustained competitive advantage, business enterprises in the United States and elsewhere have had to achieve increasingly higher degrees of ‘organizational integration’, and that, as a general rule, the US's prime competitors, and particularly the Japanese, have gained competitive advantage by becoming more organizationally integrated than their American rivals. For some industries, moreover, organizational integration is more important than others, hence the variation in the extent to which certain American industries have been affected by foreign competition; and even within the more vulnerable industries such as electronics and automobiles, some American companies have responded to the competitive challenge more quickly and effectively than others. The organizational integration hypothesis argues that an important determinant of differences in the quickness and effectiveness of strategic responses to competitive challenges among American companies in the same industry is the extent to which these companies are organizationally integrated.
The Structure of Strategy
Authors: Kay John 
Published: October 2003

Abstract
The successful strategy of a firm originates in the requisite match between its internal capabilities and its external relationships. This is the basis of its ability to add value, i.e. to create an output that is worth more than the cost of the inputs it uses. To achieve this, these capabilities need to be distinctive (not easily replicated by other companies), sustainable (persist over time), and appropriable (to principally benefit the company that holds them). There are three broad categories of such distinctive capabilities. “Architecture” refers to a network of relationship contracts within or around the firm. It adds value by helping to create organizational knowledge and routines that enable the company to respond flexibly to changing circumstances and allow easy exchanges of information. The second is “reputation” which is the main commercial mechanism for conveying information to purchasers of complex commodities. Finally, by protecting and exploiting “innovation”, the company can derive a third distinctive capability, given that it can appropriate the gains associated with it.
Professional Arbitrage
Authors: Shleifer Andrei 
Published: October 2003

AbstractConsiders noise trader risk in the agency context of professional arbitrage. It elaborates on a performance‐based arbitrage model where arbitrageurs are affected by the inability of their investors to separate luck from skill, shedding further doubt on the effectiveness of arbitrage in achieving market efficiency. At the end, the chapter also briefly discusses the turbulence of financial markets in the summer of 1998, when Russia defaulted most of its debt, which vividly illustrated the limits of arbitrage.
Serving Time With the Government: Federal Penitentiaries
Authors: King Desmond 
Published: October 2003

Abstract
King analyses segregation in federal prisons—institutions that he argues reproduced segregationist pressures ever since the 1930 establishment of the Bureau of Prisons through the 1960s, even in those penitentiaries located in parts of the country outside the South. After discussing the origins of federal penitentiaries, King presents a statistical profile and racial composition of inmates in federal prisons before the legal ‘separate but equal’ doctrine. He then considers how the segregated system operated in federal prisons and how attempts at integration were carried out.
Creating Citizens
Authors: Callan Eamonn 
Published: October 2003

Abstract
The problem of education in liberal democracies is to ensure the intergenerational continuity of their constitutive political ideals while remaining open to a diversity of conduct and belief that sometimes threatens those ideals. Creating Citizens addresses this problem. The book identifies both the principal aims of political education—liberal patriotism and the sense of justice—and the rights that limit their public pursuit. The public pursuit of these educational aims is properly constrained by deference to the rights of parents, and these are shown to have some independent moral weight underived from the rights of children. The liberal state's possible role in the sponsorship and the control of denominational school is discussed, as are the benefits and hazards of moral dialogue in morally diverse educational environments. The book draws heavily on John Rawls's theory of justice.
Adam Smith's System of Liberty, Wealth, and Virtue
Authors: Fitzgibbons Athol 
Published: October 2003

Abstract
Adam Smith's System is a study in classical economic thought and methodology. It portrays Adam Smith as a Stoic philosopher who wanted virtue to be relevant to this life rather than to the next. His central purpose was to define a set of laws, a jurisprudence in the widest possible sense, which would permit economic and political liberalism to proceed without triggering long‐run moral degeneration. Smith argued that the conflict between morals and wealth was only apparent, because it was possible to synthesize the seeming contraries with better laws and moral rules.
All of Smith's writings are analysed, including his writings on morals and methodology, art and rhetoric, and his political and economic writings. The relevance of Wealth of Nations is analysed, and Smith's theories of free trade and economic growth are put into context. It is shown that Smith was primarily concerned with the very broad intellectual endeavour to replace the Aristotelian world‐view, the bulwark and inspiration of medieval Christian thought, with an outlook that was more consistent with Newtonian science.
Balancing Against Threats: The Rise and Fall of the Sino‐Soviet Alliance
Authors: Foot Rosemary 
Published: October 2003

Abstract
This is the first of four chapters focusing on America’s perceptions of China’s capabilities, and dwelling on the correspondence between those perceptions and the projected consequences. It presents an analysis of the rise and fall of the Sino-Soviet Treaty of Friendship, Alliance, and Mutual Assistance, which was signed in February 1950, and represented one of the most significant alliances of the post-war period. The focus is on US perceptions of Chinese power during successive phases in the Sino-Soviet relationship: the perceived impact of the alliance on China’s capabilities and levels of security; the effects of its demise on Beijing and on the socialist bloc generally; and finally, the consequences of its eventual replacement in the 1970s by a tacit alignment between China and the United States.
The Iron Wall: China's Conventional Military Capabilities
Authors: Foot Rosemary 
Published: October 2003

Abstract
This is the second of four chapters focusing on America’s perceptions of China’s capabilities, and dwelling on the correspondence between those perceptions and the projected consequences. It looks at American perceptions of China’s capabilities as a military power, discussing them in relation to the successive conflicts in which China was involved: the Korean war, the two Taiwan Straits crises, the Sino-Indian and Sino-Soviet border conflicts, the Vietnam war and the Sino-Vietnamese fighting in 1979. The discussion marks the transition from the Truman and Eisenhower administration appraisals of China’s conventional strength as a ‘candidate great power’ (in military terms), to the perceptions in the 1960s and throughout the 1970s, that China had not developed advanced conventional forces, and had been sufficiently weakened through its domestic and foreign policies eventually to require it to embark on a domestic modernization programme that led to the reduction and then ending of its support for the national liberation struggles it had previously championed. Moreover, it needed American military protection to help it deal with Soviet encirclement. This evolution in the understanding of China’s needs and capacities helped ease the path to the rapprochement and then normalization of relations between these two former military opponents, much as America’s own defeat in Vietnam made it easier for Mao to turn to Washington.
Modes of Punishment
Authors: Martin Rex 
Published: October 2003

Abstract
The chapter suggests that there are three main modes of punishment (each with distinguishing features): (1) penalty, invoked against the offender; (2) compensation, to be paid to the victim of crime; and (3) treatment and rehabilitation of the adjudged offender. These are all modes of punishment in virtue of coming under the same general characterization, but each mode has distinguishing features as well. Penalty (e.g. imprisonment, fines) has the prevention of lawbreaking (and thereby the prevention of violations to the rights of others) as its exclusive or primary goal; it achieves this goal through credible examples of penalization or through incapacitation of the offender. Compensation is concerned principally with the good of the victims of crime (with restoration of such persons’ well being, with covering the losses they suffered through the violation of their rights by the offender); it achieves this goal by requiring that money or in‐kind aid be given to the victim (and achieves thereby, an incidental deterrent impact on crime as well). Treatment/rehabilitation is concerned with the good of the adjudged violator (though not exclusively, for the ultimate good of society is also contemplated); it achieves this goal through distinctive measures of treatment (e.g. medical treatment) and rehabilitation (e.g.education).
One of the main thrusts of this chapter is to show that treatment/rehabilitation, in so far as it is required of adjudged violators is a quite specific and independent mode of punishment. The relevant argument here, respecting treatment/rehabilitation, is conducted mainly by considering a hard case: legal insanity, i.e. the after‐verdict handling of persons adjudged ‘not guilty by reason of insanity’.
A System of Rights
Authors: Martin Rex 
Published: October 2003

Abstract
We return in this chapter, to the issue of the justification of political authority; it is argued here that the notion of political authority is internally justified in a given political system if the main elements in that notion —that is, the title to issue rules, a reasonable presumption of compliance, and the government's rightful monopoly in the use of coercive force – are actually ingredient in the theoretic structure of the system under review. Thus, it is the coherence of the background theory (the coherence of a democratic system of rights), in which each of the authority elements can be shown to have a necessary place that justifies authority in that particular political system.
In developing this line of argument, we come to see that the priority rule (from Ch. 7) has to be modified. We do so by introducing the notion of basic rights: such rights are those civil rights (e.g. freedom of political speech or liberty of conscience) that have passed the double test of being enacted by legislative majorities and of being affirmed and, then, supported over the years by checking devices (such as judicial review). They are rights that have survived the scrutiny of time and experience and public discussion; they have been winnowed by the self‐correcting character of the democratic process, and now continue to enjoy a very high level of social consensus support. Basic rights, as understood here, are the rights that have the top priority in a democratic system of rights.
The Micro‐Powers of Apocalypse: Ecological Modernization in the Netherlands
Authors: Hajer Maarten A. 
Published: October 2003

Abstract
One of the most comprehensive discussions of the Dutch environmental ‘policy planning’ approach. Analyses how the acid rain issue became a key problem that persuaded many that a new policy strategy was required. Yet, where the Dutch debate quickly showed a conversion to the new eco‐modernist language, here we can see how the institutional practices accommodated many of the more radical suggestions of ecological modernization.
The Basic Constitutional Rules: Influence and the Prerogative
Authors: Bogdanor Vernon 
Published: October 2003

Abstract
The office of head of state should be distinguished from that of head of government. The head of state has three main functions. First, there are constitutional functions, which today are primarily of a residual or formal kind, such as appointing a prime minister and agreeing to dissolve the legislature. Second are the ceremonial functions that President de Gaulle once dismissed as opening exhibitions of chrysanthemums. Third, and perhaps most important, there is the symbolic or representative function, by means of which the head of state represents and symbolizes not just the state but also the nation. The head of state represents the nation to itself. These last two functions are, in Bagehot's terminology, `dignified’ rather than `efficient’ functions. They are likely to be better performed when the office of head of state is separated from that of head of government so that the head of state is not an active party politician. The fundamental principle of constitutional monarchy is that of acting on the advice of ministers. But this does not exclude a considerable amount of influence being wielded by an assiduous sovereign.