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  • Blackwell Publishing Ltd  (46,028)
  • 1995-1999  (25,582)
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  • 1
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. This is a detailed introduction to auction theory. It begins with a simple analysis of standard auctions and then uses a strikingly simple general solution of symmetric private values auctions to prove the payoff equivalence of many auction rules. The basic framework is then modified to admit risk aversion, multi-unit and repeated auctions as well as collusion. Then follows an introduction to optimal auctions, with and without stochastic entry, and to common value auctions and the winner's curse problem. The survey closes with a sample of applications, from the regulation of natural monopolies to price competition in oligopoly and the government securities market.
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  • 2
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. A large number of different Pseudo-R2 measures for some common limited dependent variable models are surveyed. Measures include those based solely on the maximized likelihoods with and without the restriction that slope coefficients are zero, those which require further calculations based on parameter estimates of the coefficients and variances and those that are based solely on whether the qualitative predictions of the model are correct or not. The theme of the survey is that while there is no obvious criterion for choosing which Pseudo-R2 to use, if the estimation is in the context of an underlying latent dependent variable model, a case can be made for basing the choice on the strength of the numerical relationship to the OLS-R2 in the latent dependent variable. As such an OLS-R2 can be known in a Monte Carlo simulation, we summarize Monte Carlo results for some important latent dependent variable models (binary probit, ordinal probit and Tobit) and find that a Pseudo-R2 measure due to McKelvey and Zavoina scores consistently well under our criterion. We also very briefly discuss Pseudo-R2 measures for count data, for duration models and for prediction-realization tables.
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  • 3
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. This reply takes up specific points raised by Professor Kolm over which there persists some disagreement between us. It offers a rather broad, philosophically oriented discussion of the issues. I explain why I think Kolm is right in preferring the term ‘equity’to that of ‘envy-freeness,’but I express moral doubts concerning the interpretation proposed by Kolm of equity as a criterion of equal liberty. On this basis, I then defend my own specific interpretation of equity as a welfarist-egalitarian criterion, and express some reluctance as to the alleged ‘moral irrelevance’of individual preferences in the theory of equity. I also briefly discuss the conceptual role played by counterfactuals and try to mitigate somewhat Kolm's critique of the use of axioms involving ‘imaginary’ situations.
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  • 4
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. This paper presents a critical survey of theories of migration, their welfare and policy implications and their empirical relevance. We also develop some extensions to the theory beginning with the Harris and Todaro (HT) model. In particular, the HT model is extended to examine risk averse behaviour within families where the migration of members of families serves to diversify risk. The welfare implications of the individual migration decision and government intervention in the form of employment subsidies are examined. Recent evidence on international migration is presented. It is shown that migration does not flow automatically in response to wage differentials. Characteristics of migrants and the process of self-selection are found to be important determinants of the rate of migration.
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  • 5
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. The principle that ‘no individual prefers another's allocation to his own’is central in the analysis of Economic Justice mainly because of its identity with the basic case of equality of liberty, rather than for its indirect relation with the sentiment of envy. The various reproaches which have been addressed to this principle, gathered by Arnsperger, either are misconceived, or have been answered by rational (justified) extensions or specifications of the principle.
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  • 6
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 7
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 8
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. We survey recent theoretical research on the effects of short-term share-price based managerial incentive schemes. Such schemes can induce inefficient managerial behaviour in both hidden action and hidden type contexts. These problems arise from informational asymmetries: managers take actions to manipulate the information flow rather than to maximize firm value. More generally, imperfect transmission of information between managers and shareholders or between managers of different firms can lead to similar distortions even when the parties' interests are aligned.
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  • 9
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. Worker absenteeism constitutes a significant loss of work-time and therefore has important implications for both household income and firm productivity. Despite this, the economics profession has been somewhat laggard relative to other disciplines in addressing the phenomenon. The situation is, however, changing, with recent years witnessing a mild flurry of activity. The aim of this paper is to maintain, and if possible, enhance this momentum. We do this firstly by developing some basic theoretical ideas which we consider to be central to an economic analysis of absence. In particular, we address the often cited claim that observed absence is unequivocally inefficient. Second, by reviewing some of the key contributions, we attempt to assess where the literature on the economics of absence stands at present, as well as suggesting some potentially fruitful lines of future enquiry.
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  • 10
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 51 (1998), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
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  • 11
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 51 (1998), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
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  • 12
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 51 (1998), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
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  • 13
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 50 (1997), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: This paper shows two points: (1) there is a statistically significant positive relationship between the real value of the agricultural minimum wage and the level of agricultural output in Morocco, for eight important crops; (ii) the latter may be explained using a theoretical model where the productivity of the laborers depends on their consumption level, and where wage incomes are shared among family members to fund consumption. The Nash equilibrium is then inefficient.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSUNGDieser Artikel zeigt zweierlei: a) Für acht Feldfnichte existiert eine statistisch sigrufikante Beziehung zwischen realem Mindestlohn und Produktionsniveau in der marokkanischen Landwirtschaft; b) Diese Beziehung lasst sich mit einem theoretischen Modell erklären. Darin hangt die Produktivitat der Arbeiter von ihrem Lebensstandard ab. Zur Konsumfinanzierung werden die Lohneinkunfte zwischen den Mitgliedern der Familie aufgeteilt. Das Nash-Gleichgeèicht ist somit ineffizient.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉCet article montre deux choses: (a) il y a une relation statistiquement significative entre la valeur réelle du salaire minimum agricole et le niveau de la production agricole au Maroc, pour huit cultures importantes; (b) celle-ci peut s'expliquer au moyen d'un modèle théorique où la productivité des travailleurs dépend de leur niveau de consommation, et où les revenus salariaux sont partagés entre les membres de la famille pour financer la consommation. L'équilibre de Nash est alors inefficient.
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  • 14
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: This paper reports the results of a comparison of employment adjustment in Japan, the United States and four major EC countries. Output and real wages are used in explaining the optimal employment level and change in employment. Short- and long run responses to alterations of the exogenous variables are estimated and compared. Surprisingly, Germany has a quite rapid adjustment of labor while France and Italy show a much slower adjustment pattern. Even in comparison with the United States. Great Britain demonstrates the fastest adjustment to changes in the economic environment. By far the slowest adjustment pattern is realized in Japan. Overall the difference between the US and Europe seems not to be too large and European labor markets are not as sclerotic as occasionally assumed.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASUNGDieser Artikel gibt die Ergebnisse eines Vergleichs der Beschäftigungsanpassung in Japan, den Vereinigten Staaten und den vier wichtigsten EU-Landern wieder. Das Produktionsniveau und der Reallohn sind die erklarenden Variablen für das optimale Beschaftigungsniveau wie auch Veranderungen der Beschäftigung. Es werden kurz- und langfnstige Beziehungen zwischen den exogenen und der endogenen Vanablen geschatzt und verglichen Uberraschenderweise hat Deutschland eine relativ rasche Beschaftigungsanpassung, während Frankreich und Italien eine viel langsamere Anpassung aufweisen. Großbntannien hat auch im Vergleich zu den USA die schnellste Reaktion auf Veränderungen der ökonomischen Umwelt. Das bei weitem inflexibelste Anpassungsverhalten wird für Japan registriert. Zusammenfassend scheinen die Unterschiede zwischen den Vereinigten Staaten und Europa nicht so groß und der europaische Arbeitsmarkt nicht so sklerotisch zu sein wie erwartet.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉCet article présente les résultats d'une comparaison de la vitesse d'adaptation de l'emploi au Japon, aux Etats-Unis et dans les quatre pays les plus importants de l'UE. Le niveau de l'emploi optimal ***ainsi que les variations de l'emploi sont expliquées par le niveau de production et les salaires réels. Les variations à court et long terme des changements des variables exogènes ont été estimés et comparés. Étonnamment, l'Allemagne a une vitesse d'adaptation de l'emploi relativement rapide par rapport à celles de la France et de l'Italie. L'Angleterre montre měme, en comparaison avec les Etats-Unis, une plus grande flexibilité envers les modifications de l'environnement économique. L'adaptation la plus lente est observée au Japon. Pour conclure les différences concernant la vitesse d'adaptation de l'emploi entre les Etats-Unis et l'Europe ne semblent pas si grandes et les marchés de travail européens sont moins sclérosés que ce que l'on attendait.
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  • 15
    Electronic Resource
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 50 (1997), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: Tax evasion has been mainly studied as a problem of choice under uncertainty; like any portfolio manager, the taxpayer has to allocate her/his fixed gross income between two assets a risky asset, tax evasion, and a safe asset (with a zero return), tax payment. As suggested by the portfolio theory, the taxpayer's choice will be affected by her/his preferences — mainly by her/his attitude towards risk-taking — and by the return on the risky asset determined by the tax structure, which includes both the tax rate and the penalties in the case of evasion However, the pure gamble model appears unsatisfactory on various grounds. Among these and most importantly for our purpose, it neglects the psychological aspects of the decision to evade tax because it rules out any feeling of shame about evading or being detected and punished, and it ignores any intrinsic pleasure from successful evasion In other words, the pure gamble model does not take full account of the moral constraints involved in the tax evasion decision. The main objective of the experiment presented here was therefore to investigate the role played by moral constraints in determining the decision to evade taxes. The experimental evidence supports the thesis that the taxpayer's decisional process involves not only monetary elements but also psychological and moral factors.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSUNGDie Steuerhinterziehung wurde bisher überwiegend als Problem von Entscheidungen unter Unsicherheit untersucht Wie jeder Portfoliomanager muss auch der Steuerzahler sein Bruttoeinkommen zwischen zwei Anlageformen verteilen eine risikoreiche Anlageform. Steuerhinterziehung, und eine sichere Anlageform (ohne Gewinn), Steuerzahlung. Nach der Portfoliotheorie wird die Entscheidung des Steuerzahlers von seinen Praferenzen beeinflusst — vor allem von seiner Risiko-bereitschaft — und von der Gewinnaussicht der risikoreichen Anlageform, die vom Steuersystem abhangt, d.h. vom Steuersatz und den Strafen bei Steuerhinterziehung. Dieses Lotteriemodell ist jedoch aus mehreren Grunden unbefriedigend: es vernachlässigt die psycholgischen Aspekte der Steuerhinterziehung, weil es jegliches Schamgefühl bei der Steuerhinterziehung bzw. der Entdeckung und Bestrafung ausschliesst und ein intrinsisches Vergnugen bei erfolgreicher Steuerhinterziehung ignoriert. Das Lotteriemodell zieht also nicht in Betracht, dass moralische Restriktionen die Entscheidung zur Steuerhinterziehung beeinflussen konnten Das hier vorgestellte Experiment wollte daher in erster Linie untersuchen, welche Rolle moralische Restriktionen bei der Entscheidung zur Steuerhinterziehung spielen. Die Ergebnisse des Experiments bestatigen die Hypothese, dass der Entscheidungsprozess des Steuerzahlers nicht nur durch monetare Elemente beeinflusst wird, sondern auch durch psychologische und moralische Faktoren.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉL'évasion fiscale a été principalement étudiée en tant qu'un problème de choix dans des conditions d'incertitude, comme n'importe quel gestionnaire de portfolio, le contribuable doit répartir son revenu brut fixe entre deux actifs un actif risqué, l'évasion fiscale, et un actif sǔr (avec un taux d'intérét zéro), le payement des taxes. Comme suggéré par la théorie du portfolio, le choix du contribuable sera affecté par ses préférences — principalement par son attitude vis-à-vis du risque — et par le bénéfice déterminé par la structure fiscale qui inclut à la fois le taux de taxation et les pénalités prévues en cas d'évasion Cependant, le modèle pur de jeu apparait insatisfaisant pour plusieurs rasisons Parmi celles-ci, le modèle néglige les aspects psychologiques de la décision, limitation spécialement importante pour notre objectif, puisqu'il écarte tout sentiment de honte associé à la découverte de l'évasion et à la punition ou encore il ignore le plaisir découlant d'une évasion fiscale réussie. En résumé, le modèle pur de jeu ne prend pas pleinement en compte les contraintes morales qui influencent la décision. L'objectif principal de l'expérimentation présentée ici était d'analyser le rǒle joué par les contraintes morales dans la prise de décision d'évasion fiscale. Les résultats confirment l'hypothèse que le processus décisionel du contribuable dépend non seulement des aspects financiers mais également des facteurs psychologiques et moraux.
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  • 16
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 50 (1997), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
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  • 17
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 50 (1997), S. 0 
    ISSN: 1467-6435
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  • 18
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 50 (1997), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
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  • 19
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 50 (1997), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: The paper results from interviews held among economists from Central and Eastern Europe. It tries to get an inside view on the profession under communist rule. As expected, the results depend upon period and country under analysis. Poland and Hungary did not lose contact with Western developments, while the Soviet Union and the GDR and also Czechoslovakia after 1968 isolated themselves completely. In Russia there was an own development in the sphere of optimal planning theory. In the GDR strict political control and adherence to dogmatism led to sterility. Reform thinking became stronger in the 1980s, with the exception of the GDR and Russia. The results are corroborated by the personal situation of the individual economist. Asked where they see the lasting contribution of economics under communism, most respondents are rather pessimistic: it is more the abortive practice of Soviet-type central planning which taught a lesson than the theoretical developments of the period.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSUNGDie Studie ist das Ergebnis von Interviews, die unter Wirtschaftswissenschaftlern aus Mittel- und Osteuropa gehalten wurden. Sie sucht einen Blick von innen auf die Entwicklung einer Wissenschaft unter kommunistischer Herrschaft zu gewinnen. Das Resultat hängt von der jeweiligen Periode und dem jeweiligen Land ab. Polen und Ungarn haben den Kontakt zum Westen nicht verloren. Russland und die DDR, ebenso die CSSR nach 1968, haben sich dagegen vollständig isoliert. Russland kannte eine eigene Entwicklung in der Planungstheorie. In der DDR führten dagegen politische Kontrolle und Dogmatismus zur Sterilität. Mit Ausnahme dieserbeiden Länder wuchs das Reformdenken in den 80er Jahren stetig an. Die Ergebnisse spiegeln sich auch in der persönlichen Situation der einzelnen Wissenschaftler wider. Nach dem bleibenden Beitrag der Ökonomie unter dem Kommunismus befragt, zeigen sich die Antworten eher pessimistisch: nicht die theoretischen Errungenschaften der Periode sind lehrreich, vielmehr aber das abschreckende Beispiel des sowjetischen Zentralplansystems.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉL' article rend compte des résultats d'interviews réalisés auprès d'économistes des pays de l'Europe Centrale et Orientale. II présente une vision de l'intérieur sur le développement de la science économique sous le régime communiste. Les résultats dépendent de la période et du pays analyses. La Pologne et la Hongrie n'ont jamais perdu le contact avec la science économique occidentale, tandis que la Russie, l'Allemagne de l'Est et, après 1968, la Tchécoslovaquie s'en sont isolés complètement. Avec la théorie de la planification optimale, la Russie a connu son propre développement. En RDA, le contrǒle politique et le dogmatisme ont abouti à une stérilité théorique. À l'éxception de ces deux derniers pays, la pensée réformiste s'est renforcée continument au cours des années 80. Ces résultats se reflètent aussi dans la situation personnelle faite aux économistes. Quant a la contribution durable de la science économique sous le communisme, les réponses sont peu optimistes: ce ne sont pas tellement les développements théoriques qui survivront à la periode soviétique, mais plutöt (‘experience avortée de la planification centrale de type soviétique.
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  • 20
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 50 (1997), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
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  • 21
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 50 (1997), S. 0 
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  • 22
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    Kyklos 50 (1997), S. 0 
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  • 23
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 49 (1996), S. 0 
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  • 24
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    Kyklos 49 (1996), S. 0 
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    Kyklos 49 (1996), S. 0 
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    Kyklos 49 (1996), S. 0 
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  • 30
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    Kyklos 48 (1995), S. 0 
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  • 31
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    Kyklos 48 (1995), S. 0 
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  • 32
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    Kyklos 48 (1995), S. 0 
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    Kyklos 48 (1995), S. 0 
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    Kyklos 48 (1995), S. 0 
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    Notes: The author, born in 1946, is professor of economics at the University of California, Santa Barbara. He has been a visiting professor at Harvard University and at the University of Chicago and an economist in the U.S. government. He has served as a consultant or expert witness for governmental agencies and private parties, and has given lectures at numerous conferences and institutions in North America and in Europe.
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    Kyklos 48 (1995), S. 0 
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    Notes: The author, born in Switzerland in 1919, having acquired his doctorate in Zurich and taught economics at the University of Zurich, the Johns Hopkins University, and the University of Berne (Switzerland). He is now professor emeritus, University of Berne, and adjunct professor, University of California. After his retirement he lectured at the University of California, Santa Cruz, in Perth (Australia) and at the University of Munich.
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    Notes: The author, born in 1938, is professor of economics at the Université de Bourgogne (France). He graduated in law at the University of Paris and in public administration at the Institut d'Etudes Politiques de Paris. He then turned to economics at the universities of Rennes and Paris. He was professor of economics at the European University Institute at Florence (Italy) and spent two years as counsellor for social sciences in the department for scientific research of the French government.
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    Notes: The author, born in Germany in 1949, is professor of economics at the University of Linz (Austria). He received his education at the universities of Konstanz (Germany) and Zurich (Switzerland) in Europe, and at the University of Yale and at the Center for Study of Public Choice, Blacksburg, Virginia in the U.S. Before his current position he was visiting professor at the University of Stockholm, Carnegie-Mellon University, Aarhus University (Denmark), and La Trobe University, Melbourne.
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    Notes: Review of the more widely discussed saving theories suggests that they are unable to account for the observed positive impact of a country's rate of economic growth on its saving ratio. In particular, the compositional explanation offered by the Life Cycle theory would appear to be based on debatable premises. A more promising explanation is found in the examination of the saving behavior of individual households and the respective motives: their saving ratio tends to vary positively with the percentage change in their income. The importance of the distribution of such changes among the economic agents is obvious. A number of implications for economic growth are discussed, including the roles of direct taxation, the export and agricultural sectors and, especially, domestic and foreign capital.〈section xml:id="abs1-2"〉〈title type="main"〉ZusammenfassungEine Überprüfung der wesentlichen Theorien des Sparens deutet darauf hin, dass sie nicht in der Lage sind, die beobachtete positive Wirkung der Wachstumsrate eines Landes auf die Sparquote zu erklären. Insbesondere die Erklärung der Lebenszyklustheorie scheint auf fraglichen Voraussetzungen aufzubauen. Eine vielversprechendere Erklärung liefert die Untersuchung des Sparverhaltens individueller Haushalte und ihrer jeweiligen Sparmotive: ihre Sparquote variiert positiv mit prozentualen Einkommensveränderungen. Die Bedeutung der Verteilung solcher Veränderungen unter den ökonomischen Agenten ist offensichtlich. Einige Konsequenzen für das Wirtschaftswachstum werden diskutiert, unter anderem die Rolle, die direkte Besteuerung, Export- und Landwirtschaftssektor, sowie in- und ausländisches Kapital spielen.〈section xml:id="abs1-3"〉〈title type="main"〉RésuméUne revue des théories principales de l'épargne nous amène à conclure qu'elles ne peuvent pas expliquer l'effet positif observé du taux d'accroissement d'une économie sur le rapport entre l'épargne et le revenue. En particulier, l'explication compositionelle proposée par la théorie du Cycle de Vie semble être basée sur des prémisses contestables. Une explication plus promettante se révèle en examinant le comportement des families individuelles quant à l'épargne et les motifs correspondants: le rapport entre l'épargne et le revenu tend à changer positivement avec la variation du taux de changement du revenu. L'importance de la distribution de tels taux parmi les agents économiques est évidente. Quelques implications intéressantes à l'égard de la croissance économique sont discutées, y compris les rôles de l'impôt direct, des secteurs exportateurs et agricoles et, en particulier, des capitaux nationaux et étrangers.
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    Notes: The 1990s have seen several big currency crises. Some observers argue that the crises show ‘fixed’ exchange rates are unsustainable. Dozens of countries have sustained such exchange rates for years or decades, though. Differences between pegged and fixed exchange rates explain why some exchange rates have lasted while others have succumbed to speculative attacks.〈section xml:id="abs1-2"〉〈title type="main"〉ZusammenfassungDie neunziger Jahre haben mehrcre grosse Währungskrisen erlebt. Einige Beobachter behaupten, solche Krisen zeigen, dass feste Wechselkurse nicht haltbar seien. Dennnoch hat eine Reihe anderer Lander solche Wechselkurse jahre- oder jahrzehntelang aufrechterhalten. Unterschiede zwischen einem Wechselkurs, der in Bandbreiten schwanken darf (‘pegged’) und einem absolut festen Wechsclkurs erklären, warum sich einige Wechselkurse durchgesetzt haben, wührend andere spekulativen Angriffen zum Opfer gefallen sind.〈section xml:id="abs1-3"〉〈title type="main"〉RésuméLes années 1990 ont connu plusieurs crises monétaires importantes. Quelques observateurs affirment que ces crises démontrent que les taux de change ‘fixes’ sont indéfendables. Pourtant, des douzaines de pays ont soutenu des tels taux de change pendant des décennies, même des siècles. Cela s'explique par la différence entre les taux de change vraiment fixes et les taux de change fixes mais ajustables (‘pegged’).
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    Notes: Aulin, Asvid (1997). The Origins of Economic Growth. Berlin/Heidelberg/New York.Bretschger, Lucas (1996). Wachstumstheorie. München/Wien: Oldenbourg.Canzoneri, Matthew B., Wilfred J. Ethier and Vittorio Grilli (eds.) (1996). The New Transatlantic Economy. Cambridge/New York/Melbourne: Cambridge University Press.Costanza, Robert, John Cumberland, Herman Daly, Robert Goodland and Richard Norgaard (1997). An Introduction to Ecological Economics. Boca Raton, USA: St. Lucie Press.Dragun, Andrew K. and Kristin M. Jakobson (eds.) (1997). Sustainability and Global Environmental Policy. New Perspectives. Cheltenham, UK/Lyme, USA: Edward Elgar.Francois. Joseph F. and Kenneth A. Reinert (eds.) (1997). Applied Methods for Trade Policy Analysis. A Handbook. Cambridge: Cambridge University Press.Kolb, Gerhard (1997). Geschiclite der Volkswirtschaftslehre. Dogmenhistorische Positionen des ökonomischen Denkens. München: Vahlen.Komlos, John and Scott Eddie (eds.) (1997). Selected Cliometric Studies on German Economic History. Stuttgart: Franz Steiner Verlag.Meyer-Abich. Klaus Michael (1997). Praktische Naturphilosophie. Erinnerung an einen vergessenen Traum.Mizen, Paul and Eric J. Pentecost (eds.) (1996). The Macroeconomics of International Currencies. Theory, Policy and Evidence.Pies, Ingo und Martin Leschke (Hrsg.) (1997). Mancur Olsoizs Logik kollektiven Handelns. Tübingen: J.C.B. Mohr (Paul Siebeck).Weimer, David L. (ed.) (1997). The Political Economy of Property Rights. Institutional Change and Credibility in the Reform of Centrally Planned Economies. Cambridge/New York/Melbourne: Cambridge University Press.Wendner, Ronald (1997). C02-Reduktionspolitik und Pensionssicherung. Hintergründe, Modellinerung und Simulationen. Heidelberg: Physica.Williamson, Jeffrey G. (1997). Industrialization, Inequality and Economic Growth. Cheltenham, UK/Brookfield, USA: Edward Elgar.
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    Notes: Increasingly, commentators have argued that provision of welfare services is better left to the private sector, In the UK, the ‘Thatcher years’ were associated with a philosophy that greater decision making should be left to individuals and that, if state provision of welfare were ‘rolled back’, the voluntary charitable sector would become more active in meeting the needs of the disadvantaged. While ‘standard’ economic theory suggests that cutting public expenditure ‘crowds in’ private giving and that tax inducements to donate to charities can prove effective, there are reasons to dispute the proposition that such a mix of fiscal policy will cause individuals to behave more altruistically. An appraisal of public policy changes, which includes the impact of policy changes on individuals' preferences, calls in question the assertion that private charitable giving will provide an adequate substitute for public expenditure. The same analytical framework proves effective in predicting a range of policy outcomes.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSUNGIn zunehmendem Masse wird von Experten behauptet, die Bereitstellung von Wohlfdhrtseinrichtungen sei besser dem privaten Sektor zu überlassen. Die Thatcher-Jahre in Grossbritannien waren mit der Philosophie verhunden, die Verantwortung vom Staat auf den Einzelnen zu verlagern. Zöge sich der Staat aus der Bereitstellung von Wohlfahrtseinrichtungen zurück, würde sich der karitative Sektor aktiver in die Versorgung Bedürftiger einschalten. Laut der ökonomischen Standardtheorie führen Kürzungen öffentlicher Ausgaben zu einem Anstieg privater Spenden und macht sich die steuerliche Absetzbarkeit von Spenden bezahlt. Die Annahme, dass dieser fiskalpolitische Mix zu einem altruistischeren Verhalten der Individuen führt, lässt sich allerdings aus mehreren Gründen hinterfragen. Eine Beurteilung eines Kurswechsels des öffentlichen Sektors, die die Auswirkungen auf die individuellen Präferenzen beinhaltet, stellt die Behauptung in Frage, dass private Spendengelder öffentliche Ausgaben in ausreichendem Masse ersetzen könnten. Der gleiche analytische Rahmen ist ein wirksames Instrument, um weitere politische Ergebnisse vorherzusagen.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉDe plus en plus souvent, les experts ont soutenu que les services sociaux devaient plutǒt ětre fournis par le secteur privé. Au Royaume Uni, les ‘années Thatcher’étaient associées avec une philosophie prévoyant une plus grand liberté de détcision laissée a l'individu et que, au cas où l'état reduisait la provision des services sociaux, les institutions charitables volontaires deviendraient plus actives pour satisfaire les besoins des ‘marginaux’. Tandis que la théorie economique normale suggère que les réductions des dépenses publiques font augmenter les contributions privées et que les encouragements fiscaux è contribuer è des institutions charitables peuvent se montrer efficaces, des raisons existent pourtant qui contestent le constat qu'une telle combinaison de politiques fiscales ménerait è un comportement individuel pluis altruiste. Une évaluation des changements dans la politique sociale, comprenant l'impacte de ces changements sur les pétférences des individus, met en question le constat que les contributions charitables privées remplacent convenablement les dépenses publiques. Le méme cadre analytique se montre efficace é la prévision d'une gamme d'issus de politique.
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    Notes: The term digital money refers to various proposed electronic payment mechanisms designed to use by consumers to make retail payments. These mechanism are based either on wart cards or on network money. Smart cards could potentially replace currency as the predominant means to pay for retail purchases. Software-based digital money products (network money) bring cheap electronic funds transfers to individuals and small firms. This paper examines how digital money affects the demand for money and how this process, in turn, affects the demand for reserves, monetary control, and the monetary transmission mechanism.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSGNGDer Begriff ‘Digitales Geld’ bezieht sich auf verschiedene Vorschläge fur elektronische Zahlung-ssysteme, die von den Konsuinenten zur Bezahlung von Einkäufen im Einzelhandel verwendet werden können. Diese Zahlungssysteme basieren entweder auf ‘smart cards’ oder auf ‘Netzwerk-geld’. Smart cards können möglicherweise Bargeld als vorherrschendes Zahlungsmittel im Einzelhandel ersetzen. Software-basierte digitale Geldprodukte (Netzwerkgeld) ermöglichen demgegenüber einen billigen Transfer von Geld an Einzelpersonen und kleine Unternehmen. Dieses Papier untersucht, wie digitales Geld die Geldnachfrage beeinflusst und welche Auswirkungen dies wiederum auf die Nachfrage nach Reserven. die Kontrolle der Geldmenge und die montären Transmissionsinechanisinen hat.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉLe terme monnaie digitale se refère à différents méchanismes de payment, ayant été proposées pour étre utilisés par les consomateurs pour effectuer leurs payments quotidiens. Ces méchanismens sont basés sur le principe de la ‘smart card’ ou du ‘network money’. Les ‘smart cards’ pourraient remplacer la inonnaie comme méchanism de payment prédominant pour I'achat quotidien. Par contre, le ‘network money’, monnaie digitale basée sur des logiciels, apporte une méthode peu coǔteuse pour les personnes particulières et les petites entreprises pour effectuer leurs transfers monétaires. Cet article examine comment la monnaie digitale influence la demande de la monnaie, et comment ce processus influence la demande pour les reserves monétaires, le contrǒle monétaire. ainsi que les méchanisines de transfers monétaires.
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    Notes: Argy, Victor and Leslie Stein (1997). The Japanese Economy. Basingsto-ke/London: Macmillan. 379 pp. £47.50. ISBN 0-333-6756-5. £17.50. ISBN 0-333-67566-5.Balasubramanyam, V. N. and D. Greenaway (eds.) (1996). Trade and Development. Essays in Honour of Jagdish Bhagwati. Basingstoke/London: Macmillan. 217 pp. £45.00. ISBN 0-333-65616-4.Blejer, Mario I. and Teresa Ter-Minassian (eds.) (1997). Macroeconomic Dimensions of Public Finance. Essays in Honour of Vito Tanzi. London/New York: Routledge. 506 pp. £65.00. ISBN 0-415-14111-7.Blejer, Mario I. and Teresa Ter-Minassian (eds.) (1997). Fiscal Policy and Economic Reform. Essays in Honour of Vito Tanzi. London/New York: Rout-ledge. 305 pp. £60.00. ISBN 0-415-13739-X.Brömmelhörster, Jörn and John Frankenstein (eds.) (1997). Mixed Motives, Uncertain Outcomes. Defense Conversion in China. Boulder: Lynne Rienner Publishers. 275 pp. $ 55.00. ISBN 1-555-87710-9.Constanza, Robert, Charles Perrings and Cutler J. Cleveland (eds.) (1997). The Development of Ecological Economics. Cheltenham, UK/Brookfield, USA: Edward Elgar. 777 pp. £160.00. ISBN 1-85898-386-X.Craig, Lee A. and Douglas Fisher (1997). The Integration of the European Economy, 1850-1913. Basingstoke/London: MacMillan Press. 327 pp. ISBN 0-333-58036-2.Davies, Stephen and Bruce Lyons (1996). Industrial Organization in the European Union. Structure, Strategy and the Competitive Mechanism. Oxford: Clarendon Press. 287 pp. £40.00. ISBN 0-19-828973-1.Fratianni, Michele and Franco Spinelli (1997). A Monetary History of Italy. Cambridge: Cambridge University Press. 305 pp. £40.00. ISBN 0-521 -44315-6.Gandolfo, Giancarlo (1996). Economic Dynamics, 3rd ed. Berlin/Heidelberg/New York/London: Springer. 610 pp. DM 178.-. ISBN 3-540-60988-1.Garfinkel, Michelle R. and Stergios Skaperdas (eds.) (1996). The Political Economy of Conflict and Appropriation. Cambridge/New York/Melbourne: Cambridge University Press. 182 pp. $ 49.95. ISBN 0-521-56063-2.Kemp, René (1997). Environmental Policy and Technical Change. A Comparison of the Technological Impact of Policy Instruments. Cheltenham, UK/Brookfield, USA: Edward Elgar. 360 pp. £55.00. ISBN 1-85898-506-4.Klamer, Arjo (ed.) (1996). The Value of Culture. On the Relationship between Economics and Arts. Amsterdam: Amsterdam University Press. 243 pp. £21.95. ISBN 90-5356-218-4.Llau, Pierre (1996). Economie financeère publique. Paris: Presses Universitai-res de France. 546 pp. 168 FF. ISBN 2-13-047774-7.Mueller, Dennis C. (ed.) (1997). Perspectives on Public Choice. A Handbook. Cambridge: Cambridge University Press. 672 pp. $79.95. ISBN 0-521-55377-6 (he.). $ 29.95. ISBN 0-521-55654-6 (pbk.).Pritzl, Rupert F.J. (1997). Korruption und Rent-Seeking in Lateinamerika. Zur Politischen Ökonomie autoritärer politischer Systeme. Baden-Baden: Nomos. 318 S. ISBN 3-7890-4692-2.Schmidt-Trenz, Hans-Jörg (1996). Die Logikkollektiven Handelns bei Delegation. Tübingen: J.C.B. Mohr (Paul Siebeck). 293 S. ISBN 3-16-146607-1.Xepapadeas, Anastasios (ed.) (1996). Economic Policy for the Environment and Natural Resources. Techniques for the management and Control of Pollution. Cheltenham, UK/Brookfield, USA: Edward Elgar. 245 pp. £59.95. ISBN 1-85898-413-0.
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    Notes: The paper defines entrepreneurship as about ‘self-competition’, the quest to test self-ability: Can a future self achieve greater goals than what has been so far achieved? Self-competition involves the development of ability and, hence, ex post assessment of ability is uncertain. Such uncertainty occasions either immobilizing anxiety (Buridan's ass) or entrepreneurial action. No such uncertainty surrounds the assessment of risk probability characterizing events such as floods and stock market crashes. An observable prediction of the proposed uncertainty/risk dichotomy is that insurance, which concerns risk, cannot crowd out religion and other belief systems which appeal to uncertainty.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSUNGIn diesem Papier wird Unternehmertum im Sinne von ‘Selbst-Konkurrenz’ deftniert, als Streben, die eigenen Fähigkeiten unter Beweis zu stellen: Kann das zukünftige Ich höhere Ziele als bisher erreichen?Selbst-Konkurrenz beinhaltet die Entwicklung von Fähigkeiten, und daher ist deren ex post Einschätzung unsicher. Diese Unsicherheit führt entweder zu einer lähmenden Angst (Burdians Esel) oder zu unternehmerischer Aktivität. Im Gegensatz dazu ist die Einschätzung der Risikowahrscheinlichkeit von Überschwemmungen oder Kursschwankungen an der Börse nicht von einer solchen Unsicherheit geprägt. Als beobachtbare Voraussage aus der vorgeschlagenen Unsicher-heit/Risiko-Dichotomie heraus ergibt sich, dass eine dieses Risiko betreffende Versicherung nicht in der Lage ist, Religion und andere Glaubenssysteme, die sich auf Unsicherheit bezichen, zu verdrängen.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉCe papier définit ľesprit entrepreneur comrne ‘une concurrence de soi’, la quete d'éprouver la capacityé de soi: Est-ce possible qu'un futur-soi puisse achever de plus grands buts qu'il a déjà accomplis? Une concurrence de soi consiste du développcinent de sa capacityé, done, ľévaluation ex past de cette capacityé n'est pas certaine.Une telle incertitude mène à une anxiété paralysante (ľǎne de Buridan) ou àľ action entreprenante. Une incertitude de la sorte n'entoure pas ľévaluation de la probabilityé de risque qui caractérisent les événements tels comme ľ inondation ou la chute de la Bourse. Une prédiction qu'on petit observer de la dichotomie proposée incertitude/risque, c'est que ľ assurance, qui concerne le risque, doit laisser de place aux réligions et aux autres systèmes de croyance qui invoquent ľ incertitude.
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    Notes: Implications of inefficiency in theories of market failure reveal a flawed methodology. Behavior which is apparently inefficient is actually the symptom of an inappropriate analytical model. The standard examples of market failure, monopoly power and external effects, are forthcoming only from models which omit transactions costs as explanatory variables. The unfortunate consequence of this conclusion is that complete and appropriate economic models, which incorporate all relevant variables, will always certify any behavior as efficient. This poses the ‘Panglossian dilemma’, that whatever is, is optimal. This dilemma is resolved by an analytical approach which compares behavior under alternative economic institutions. This analysis depends on two propositions: that transactions costs are affected by alternative institutional environments; and that institutions are themselves responses to the existence of transactions costs. These propositions are used to predict behavior under alternative institutions, and to explain the long run evolution of the institutions.
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    Notes: Empirical evidence does not agree with the investment-model of the demand for education: out of pocket costs have another impact than earnings foregone. This difference can be explained by consumption motives. The demand for education is then greater, the full price of education exceeds discounted future incremental earnings, net discounted wealth is not maximum and the rate of return to marginal investments in education is smaller than the interest rate.
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    Notes: BADE, KLAUS J. (Hrsg.): Auswanderer - Wanderarbeiter - Gastarbeiter.CARLSTEIN, TOMMY: Time Resources, Society and Economy.CAVES, RICHARD E.: Multinational Enterprise and Economic Analysis.CIMPA, FRANZ: Arbeitslehre für Entwicklungshilfeprojekte.ECKSTEIN, OTTO: The DRI Model of the U. S. EconomyELIASSON, GUNNAR; SHAREFKIN, MARK and YSANDER, BENGT-CHRISTER (eds.): Policy Making in a Disorderly World EconomyFRIEDMAN, JAMES: Oligopoly TheoryGARNAUT, ROSS and CLUNIES-ROSS, ANTHONY: Taxation of Mineral RentsHICKS, JOHN: Money, Interest and Wages.KALECKI, MICHA: Theorie des Wachstums und der Planung in der sozialistischen VolkswirtschaftKILLINGSWORTH, MARK R.: Labor SupplyKLEIN, LAWRENCE R.: Lectures in EconometricsLAVERGNE, RÉAL P.: The Political Economy of U. S. Tariffs: An Empirical AnalysisLEISINGER, KLAUS M.: Health Policy for Least Developed CountriesMCKENZIE, GEORGE W.: Measuring Economic Welfare: New MethodsMELMAN, SEYMOUR: Profits without ProductionMOHR, JENS-UWE: Soziologische Aspekte der Anpassung an die Industria-lisierung in einem Entwicklungsland, dargestellt am Beispiel von NigeriaPREMCHAND, A.: Government Budgeting and Expenditure Controls.QUADRIO-CURZIO, ALBERTO (ed.): The Gold Problem: Economic Perspectives.REICH, UTZ-PETER und STAHMER, CARSTEN (Hrsg.): Gesamtwirtschaftliche Wohlfahrtsmessung und Umweltqualität.REITER, KLAUS: Regionale wirtschaftliche Zusammenarbeit von Staaten der Dritten WeltRIEBEL, VOLKER: Die Schwarzarbeit als Problem der ZeitallokationRIKER, WILLIAM H.: Liberalism Against Populism.SCHARPF, FRITZ W. und BROCKMANN, MARLENE (Hrsg.): Institutionelle Bedingungen der Arbeitsmarkt - und Beschäftigungspolitik.SCHMIDBERGER, WOLF-DIETER: Fiskalpolitik in kleinen offenen Volkswirtschaften.SPRAOS, JOHN: Inequalising Trade?STIGUM, BERNT P. and WENSTØP, FRED (eds.): Foundations of Utility and Risk Theory with ApplicationsSTREETEN, PAUL: First Things First.STRØM, STEINAR (ed.): Measurement in Public ChoiceWELLS, LOUIS T. Jr.: Third World Multinationals.WILLIAMSON, JOHN (ed.): IMF ConditionalityWORSWICK, DAVID and TREVITHICK, JAMES(eds.): Keynes and the Modern World
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    Notes: At the turn of this century WESLEY C. MITCHELL argued that the velocity of money could be influenced by a noneconomic variable that he called ‘confidence’; but the idea has received little attention since then. This study uses events in the long Vietnam war for statistically demonstrating the MITCHELL hypothesis. U. S. troop presence in South Vietnam boosted the peoples' confidence in their country's future thereby stabilizing the demand for fiat money and income velocity. Only two variables - the previous year's rate of inflation and U. S. troop strength, which serves as a proxy for battlefield victories - are needed to explain movements in velocity.
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    Notes: According to Malthusian growth theory the wage rate may be maintained constant on the path to the stationary state, at a level above ‘subsistence’ by appropriate reductions in the population growth rate. In this paper we document J. S. MILL'S version of the Malthusian model and various applications thereof.
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    Notes: The paper analyses the growth and profitability of the world's largest firms by reference to their size, degree of multinationality, main industry of operation, nationality of ownership and research intensity. The influence of size of firm on growth is stable but weak, its influence on profitability is negligible. Industry of operation has generally strongly influenced growth but the effect on profitability is not consistent amongst different time periods and samples. Division by research intensities of firms is significant in analysing growth, less in the analysis of profitability. Degree of multinationality does not contribute consistently to the explanatory power of the full equation for either dependent variable but nationality of ownership is a consistently powerful explanatory factor.
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    Notes: Does externality theory provide a basis for the government's monopoly in the production of base money? Money, as has been shown, is not a public good because it does not satisfy the non-rivalness criterion (nor the non-excludability criterion). Like any public decision, political agreement on a common money or unit of account (i. e., exchange rate fixity) passes the non-rivalness test. However, whether the imposition of a common money or monetary unit is a public good or a public bad depends on whether money is a natural-monopoly good or not. Hence, there is no independent public-good justification for the government's money monopoly. The public good argument is redundant. Whether money is a natural monopoly good cannot be determined a priori, but only on the basis of experience. If governments are natural money monopolists, they should have gained their monopoly position by prevailing in the market. Historically, this is not the case. The only valid test of the natural monopoly argument is to abolish all barriers to entry and to admit free currency competition from private issuers on equal terms. An international cross-section estimate of money demand functions reveals only weak evidence of social economies of scale in the use of money. By contrast, choice among currencies is shown to be strongly affected by restrictions of convertibility.
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    Notes: Voluntary export restraint agreements (VERs) have emerged as a popular alternative to traditional protectionist devices, whose use is severely limited by trade agreements. Aimed at ‘disruptive’ suppliers, VERs tend to shift the source of imports away from the most efficient producers. Yet such negotiated agreements are attractive to exporters because they are preferable to the alternative of unilateral import barriers, especially since they allow exporters to control the trade restriction and thereby raise the export price. In fact all effective participants gain from the VER agreement, while consumers and others hurt by it are excluded from the negotiating process. Among the inherent problems of VERs, however, is their tendency to divert exports towards third markets, spreading protectionism worldwide and destabilizing trade relations. Continuing protectionist pressure in such an environment encourages the development of more sophisticated and comprehensive methods of induced export restraint.
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    Notes: Abele, Hanns; Nowotny, Ewald; Schleicher, Stefan und Winckler, Georg (Hrsg.): Handbuch der österreichischen WirtschaftspolitikBalassa, Bela and Associates: Development strategies in semi-industrial economiesBaumol, William J.; Panzar, John C. and Willig, Robert D.: Contestable Markets and The Theory of Industry Structure.Begg, David K. H.: The Rational Expectations Revolution in Macroeconomics.Ben-Porath, Yoram (ed.): Income Distribution and the Family.Bennett, James T. and Di Lorenzo, Thomas J.: Underground Government: The Off-Budget Public SectorBrandt, A.; Horisberger, B. and Von Wartburg, W. P.(eds.): Cost-Sharing in Health Care. van Duijn, J. J.: The Long Wave in Economic LifeFrisch, Helmut (ed.): Schumpeterian EconomicsFujimori, Y.: Modern Analysis of Value TheoryIngram, James C.: International EconomicssJones, Leroy P. (ed.): Public enterprise in less-developed countriesKindleberger, Charles and Di Tella, G. (eds.): Economics in the Long View.Kirzner, Israel M. (ed.): Method, Process and Austrian Economics: Essays in Honor of Ludwig von MisesKornai, János: Growth, Shortage and Efficiency.Kozma, Ferenc: Economic Integration and Economic StrategyKrueger, Anne O.: Exchange-Rate DeterminationKülp, Bernhard: FreizeitökonomieMüller-Godeffroy, H. et al.: Der neue Protektionismus.Nezeys, Bertrand: Les relations économiques extérieures de la France.Ordeshook, Peter C. and Shepsle, Kenneth A. (eds.): Political EquilibriumPatinkin, Don: Anticipations of the General Theory?Rugman, Alan M. (ed.): New Theories of the Multinational EnterpriseRydén, Bengt and Bergström, Villy (eds.): Sweden: Choices for Economic and Social Policy in the 1980sSeurot, François: Inflation et emploi duns les pays socialistesSheffrin, Steven M.: Rational ExpectationsStegmuller, W.; Balzer, W. and Spohn, W. (eds.): Philosophy of Economics.Stewart, Frances and Sengupta, Arjun: International Financial Cooperation.Sundrum, R. M.: Development Economics.Tullock, Gordon: Economics of Income RedistributionU. S. Gold Commission: Report to the Congress of the Commission on the Role of Gold in the Domestic and International Monetary System
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