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  • Wiley-Blackwell  (90,075)
  • Blackwell Publishing Ltd  (40,768)
  • 1990-1994  (103,238)
  • 1950-1954  (12,363)
  • 1940-1944  (5,887)
  • 1935-1939  (9,355)
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  • 1
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 6 (1954), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 2
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 6 (1954), S. 0 
    ISSN: 1467-8586
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    Topics: Economics
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  • 3
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 6 (1954), S. 0 
    ISSN: 1467-8586
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    Topics: Economics
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  • 4
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 6 (1954), S. 0 
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    Topics: Economics
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  • 5
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 5 (1953), S. 0 
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    Topics: Economics
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  • 6
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 5 (1953), S. 0 
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    Topics: Economics
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  • 7
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 5 (1953), S. 0 
    ISSN: 1467-8586
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    Topics: Economics
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  • 8
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 46 (1994), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines the forward-looking rational expectations buffer stock model of Cuthbertson and Taylor (1987) in the context of the personal sector of the UK. The buffer stock model is evaluated for both narrow and broad money definitions in the UK using the encompassing the VAR methodology of Mizon (1984). This suggests that the buffer stock model is a congruent model, and that the broad definition is the most appropriate aggregate with which to model buffering behaviour — in line with previous studies, Mizen (1992). Further analysis of the models, in the light of Hendry (1988), confirms this view.
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  • 9
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 46 (1994), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The concept of Nash equilibrium is widely used to analyse non-cooperative games. However, one of the problems with that concept is that many games have multiple equilibria. Recent work has concentrated on reducing or refining the set of Nash equilibria in some games. In this paper, we survey some equilibrium concepts based on perturbations of strategies that refine the set of Nash equilibria. We discuss the pros and cons of each concept and its relationship to the others by the use of numerous examples and intuition. It is hoped that this survey will enable the economist to consider the relevance of a particular equilibrium concept to a given economic model of interest. Journal of Economic Literature Classification Number: C72.
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  • 10
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 46 (1994), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The modified theory of the Illyrian firm was developed, in part, to correct a perversity exhibited by the traditional theory of the Illyrian firm — that output rises in response to a fall in output price or a rise in fixed costs. We show that while this revised model has solved the problem for the short-run the problem remains in the long-run, and this long-run perversity may have important policy implications for the short-run as well. We also show that the under-production problem associated with the traditional LMF is mitigated (and perhaps even reversed) in the modified LMF.
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  • 11
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 46 (1994), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Using a fairly general principal-agent model in which both firms and workers can affect the risk of a workplace accident, this note shows theoretically that an accident tax and/or a safety bonus scheme could unambiguously reduce the incidence of workplace accidents, contrary to the ambiguous theoretical results that are obtained with safety regulations
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  • 12
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 45 (1993), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper outlines the development and exposits some of the central ideas and implications of asymmetric information in the credit market.
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  • 13
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 45 (1993), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper uses a unique data set of unemployed semi-skilled workers to examine the relationship between reservation wages and the decision to queue for a union sector job. Estimation of selected reservation wage equations indicates that the failure of all previous estimates to model the queuing decision results in biased coefficients. Those workers who queue for a union job are subject to a distinct reservation wage formation process which differs from those not queuing. Moreover, a structural estimate of the queuing decision demonstrates that workers with the greatest differences between estimated reservation wages in the union and non-union sector are the most likely to queue. This estimate of the queuing decision stands as one of the few which focus on unemployed workers. Among other results, women and minorities are more likely to queue for union jobs, all else equal.
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  • 14
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    Bulletin of economic research 45 (1993), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A credit market is introduced into an IS-LM model with wealth effects and the government budget constraint explicitly considered, The model is able to handle issues such as a credit market shock that would be impossible to examine in standard models without a credit market. The analysis of more standard policies or shocks is enhanced by recognition of the role of the credit market, thus supporting the view that such recognition is both feasible and warranted.
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  • 15
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    Bulletin of economic research 45 (1993), S. 0 
    ISSN: 1467-8586
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    Topics: Economics
    Notes: A two-period macroeconomic model where consumption and investment decisions are given microeconomic foundations is presented. The model is used to analyse the effects of both current and anticipated fiscal expansion; careful attention is paid to the implications of the government's intertemporal budget constraint. It is shown that anticipated fiscal expansion may, in certain circumstances, be expansionary. Also, current fiscal expansion, if financed by bonds which are retired through future money creation, may be contractionary.
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  • 16
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    Bulletin of economic research 45 (1993), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The results found here indicate that American labor does influence importantly the level of imports and exports of manufactures in the US. In particular, imports tend to be lower and exports tend to be higher in those industries in which higher skilled American workers are used more abundantly. Moreover, labor efficiency and productivity also influence inversely the level of imports and directly the level of exports.
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  • 17
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 44 (1992), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper develops a mean variance model to characterize the price efficiency at the firm level in Farrell's model and shows how risk aversion may affect this measure. Problems of estimating the structural efficiency at the industry level are also discussed and it is shown that this involves a comparison between efficiency distributions of two or more industries. Two empirical applications for the two efficiency measures are also discussed.
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  • 18
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 44 (1992), S. 0 
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    Topics: Economics
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  • 19
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    Bulletin of economic research 44 (1992), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper presents a model of a risk averse multinational firm under exchange rate risk. The firm, which owns and controls assets in two countries, is engaged in production, sales and forward contracting whenever forward markets exist. First, we investigate the effects of exchange rate uncertainty without any risk sharing markets. It is shown that the firm internalizes missing hedging markets by increasing foreign production and lowering foreign sales. Therefore the firm hedges by repatriating foreign profits in the form of goods. Second, the implications of the existence of forward markets of global market decisions are discussed. It is shown that a separation theorem holds. This does not imply that the multinational firm shifts all the risk into the forward exchange market.
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  • 20
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 44 (1992), S. 0 
    ISSN: 1467-8586
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    Topics: Economics
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  • 21
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 44 (1992), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The level of effort which would be set by a firm hiring in a competitive labour market is contrasted with the effort level which would be chosen by a utilitarian trade union.
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  • 22
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 44 (1992), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper proves the existence and uniqueness of Cournot equilibrium in models of international trade under oligopoly. The existence of Cournot equilibrium is established without the usual assumption that profit functions are concave. Instead the proof uses a weaker‘aggregate concavity’condition. A simple proof is used to establish the uniqueness of the equilibrium. And, the paper considers the implications of the assumptions, used to prove the existence and uniqueness of the equilibrium, on the comparative static results.
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  • 23
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    Bulletin of economic research 43 (1991), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: When oligopolists merge, the new firm enjoys a lower cost structure than any of its premerger constituent parts. This is because of rationalization economies which are created as facilities previously operated at disparate marginal cost levels come under common control. The resultant price-decreasing force is countered by the loss of competition due to the merger. The latter can stem not only from reduction in the number of competitors, but also from the possibility that, with a more concentrated market structure, firms’conjectures about each others’reactions will move in the direction of being more cooperative. The paper shows that, under normal conditions, the effects of diminished competition outweigh those of rationalization so that a price increase will result from the merger. In addition, the equivalence of merger to the imposition of taxes is exploited to derive a market-share based test for mergers to cause welfare decreases. This complements a test proposed by Farrell and Shapiro that works only for welfare increases.
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  • 24
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    Bulletin of economic research 43 (1991), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper explores an export subsidy game in an international duopoly in which governments of countries as well as firms hold conjectures about the response of other governments. In the framework with linear demand/quadratic cost functions, a homogeneous good and no home consumption, I shall obtain the relations among the conjectural variation of firms, that of governments, and the optimal subsidies for countries. And I shall show that if and only if firms hold the consistent conjectures, Nash type behavior (zero conjectural variation) of governments is consistent.
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  • 25
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 43 (1991), S. 0 
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    Topics: Economics
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  • 26
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    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 43 (1991), S. 0 
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    Topics: Economics
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  • 27
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    Bulletin of economic research 43 (1991), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Currently available price series for slaves during the eighteenth century need to be treated with much caution, and it seems unlikely that large quantities of new evidence will be unearthed. Further progress toward the creation of more reliable price series will thus require new methods of estimation. In this paper, a new price series for slaves at the African coast is calculated using data relating to the number of slaves shipped from the coast by British traders and the value of trade goods bartered for them.
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  • 28
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    Bulletin of economic research 42 (1990), S. 0 
    ISSN: 1467-8586
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    Topics: Economics
    Notes: This paper examines the introduction of monopolistic competition into wage bargaining models: in addition to capital-labour substitution, we also consider a cost-push effect. The right-to-manage model requires strong restrictions on the objective functions and leads to problematic conclusions because the wage claims of the union are generally not compatible with the mark-up requirement contained in the firm's price equation. In the efficient bargaining model, the union negotiates also the employment level, which gives it a way of extracting part of the monopoly rent: the firm's commitment to an efficient wage-employment combination forces it to follow a pricing rule such that part of the surplus is transferred to the union.
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  • 29
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    Bulletin of economic research 42 (1990), S. 0 
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    Topics: Economics
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  • 30
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    Bulletin of economic research 42 (1990), S. 0 
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper extends Becker's basic model on investment in human capital by introducing effort as a decision variable. Based on this extended model we consider the efficiency of two popular study-grant schemes and propose a third which unequivocally increases the student's effort and may thereby resolve the moral hazard problem created by the student's self-interested behaviour. In addition, some policy issues concerning conflicts between the students' and the policy-maker's objectives are discussed.
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  • 31
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    Bulletin of economic research 42 (1990), S. 0 
    ISSN: 1467-8586
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    Topics: Economics
    Notes: A three factor, two sector general equilibrium model is used to determine long run income distributional impacts of factor supply changes associated with international migration in developing and newly industrializing countries. Factor intensity rankings among three factors (capital, skilled and unskilled labor) between two industries (agriculture and manufacturing-services) play a critical role in determining which factors are natural friends with respect to migration. A result common to all countries is observed friendship between capital and unskilled labor: reducing (increasing) the supply of one will lower (raise) payments to the other.
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  • 32
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    Bulletin of economic research 42 (1990), S. 0 
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    Topics: Economics
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  • 33
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    Bulletin of economic research 42 (1990), S. 0 
    ISSN: 1467-8586
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    Topics: Economics
    Notes: This paper presents a labor turnover model in which urban employers have an economic incentive to support an urban bias in development policies because of the indirect effect of rural incomes on urban training expenditures through the rate of labor turnover. A comparative static analysis of the model shows that an income transfer from rural workers to urban workers increases the profits of urban employers, even if urban employers are not directly involved in the transfer. Unlike previous versions of the labor turnover model, worker behavior is explicitly grounded in utility maximization.
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  • 34
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    Bulletin of economic research 4 (1952), S. 0 
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    Topics: Economics
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  • 35
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    Bulletin of economic research 4 (1952), S. 0 
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  • 36
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    Bulletin of economic research 3 (1951), S. 0 
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    Bulletin of economic research 3 (1951), S. 0 
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  • 38
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    Bulletin of economic research 4 (1952), S. 0 
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  • 39
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    Bulletin of economic research 4 (1952), S. 0 
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    Bulletin of economic research 3 (1951), S. 0 
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    Bulletin of economic research 3 (1951), S. 0 
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    Bulletin of economic research 4 (1952), S. 0 
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    Bulletin of economic research 2 (1950), S. 0 
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    Bulletin of economic research 2 (1950), S. 0 
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    Topics: Economics
    Notes: Book review in this article:Papers of the Royal Commission.
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    Journal of regional science 34 (1994), S. 0 
    ISSN: 1467-9787
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    Topics: Geography , Economics
    Notes: . State and local governments commonly finance investment in public capital by issuing bonds and by using current revenues. This paper presents a model of state and local governments' reliance on borrowing in which the optimal share of debt in the financing of capital investment depends on the relative costs of tax and debt finance. Equations are derived and estimated for spending on public capital and the share of debt in the financing of that spending. The results reveal that the level of private incomes plays an important role in both the capital investment and financial decisions of the jurisdiction. Even after controlling for Sunbelt-Snowbelt differences in incomes, grants, outstanding debt and certain demographic factors, the results indicate that state and local governments located in the Snowbelt rely more heavily on bond issues to finance capital investment. Finally, the estimated invariance of the level of state and local capital investment to the share of debt in the financing of the investment suggests that investment decisions are not greatly affected by factors influencing the willingness to issue bonds.
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    Journal of regional science 34 (1994), S. 0 
    ISSN: 1467-9787
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    Topics: Geography , Economics
    Notes: . Consider a community investigating the integration of recycling into its waste management program. Even if (1) the county's citizens do not gain utility from recycling, (2) landfill space is plentiful, and (3) the market price for recyclables is zero, recycling can still be optimal for a local government. By determining the relationship between the amount of recycling and the location of a recycling center, conditions are identified under which recycling will reduce total waste management costs enough that municipal recycling will be optimal. In addition, it is shown that the likelihood of municipal recycling increases with the size of the city.
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    Notes: . National and regional employment patterns are subject to growth-instability tradeoffs. This paper applies the portfolio selection model to detailed employment data for the U.S. economy and selected states. Empirical results indicate that growth-instability trade-offs exist in a form not previously understood. The paper also identifies growth and stabilization potential by identifying stabilizing sectors.
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    Notes: . The paper takes microlevel data on U.K. regional policy instruments and other financial assistance payments to industry to examine the time profile of assisted employment up to five years after the date of assistance. The theoretical analysis indicates factors bearing on the employment effect of industrial assistance and highlights the possibly key role played by the firm's access to private funds. The results from the regression analysis indicate that both the build-up and duration of subsidy-induced jobs vary between assistance form and firm, and that assistance is generally ineffective in large firms. Elsewhere, assisted jobs accumulate over a period of three years, but then are lost to policy at high rates.
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    Notes: . This paper analyzes 1954–1987 state manufacturing employment growth in 19 two-digit industries. Markets were found to be the strongest influence in 18 industries. Labor was the second strongest, followed by a threshold variable. Weaker influences were resources, taxes, and amenities. Regional values for the market, labor, and threshold variables corresponded well with regional employment change in the Manufacturing Belt and all other regions of the U.S.
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    Notes: . We develop an alternative specification of the regional portfolio diversification problem that explicitly incorporates important information on regional economic structure and avoids certain inconsistencies in the traditional specification with respect to what constitutes the choice set. We also implement improved econometric procedures for estimating the required parameters and provide an empirical example using 1987 data for the Colorado economy to illustrate the potential differences in sectoral allocations obtained when applying our alternative approach versus the traditional one.
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    Notes: . This study proposes, and finds evidence supporting, the hypothesis that restrictive residential land-use and minimum lot-size zoning are substitute ways of controlling the population intensity of future residential development. In addition, evidence is found linking externality, fiscal and exclusionary objectives to restrictive residential zoning.
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    Notes: . This paper examines the possibility of sustaining a collusive equilibrium in a standard location model. Drawing on recent developments in game theory, it is suggested that collusion is only feasible if market areas lie within a certain range. When market areas are large the threat of entry is likely to undermine any collusive agreement. In contrast when market areas are small, defection from the cartel is shown to be profitable. Thus collusion is shown to be feasible only when market areas and demand lie within certain bounds. More generally, this result appears to be consistent with the somewhat ambiguous empirical evidence which suggests that competitive pricing behavior is likely to prevail in periods of excessively high demand and during recessions.
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    Notes: . Associative memory techniques are drawn from the artificial intelligence literature, and have demonstrated considerable utility for parameter identification in dynamical systems. Previous turning point forecasts constructed by LeSage are compared to forecasts generated by associative memories and simple autoregressive models. Both the associative memories and the autoregressions perform as well or better than the more complicated econometric procedures described by LeSage, with the exception of West and Harrison's (1989) dynamic linear model specification. Extensions are suggested.
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    Notes: . Average monthly price data from twelve hinterland markets and the Houston port price for wheat are studied in a cointegration framework using the Engle-Granger “two-step” procedure and Johansen's maximum likelihood procedure. Out-of-sample forecasts from an error correction model are compared to those from a vector autoregression fit to levels and a univariate autoregression fit to first differences. This comparison suggests that modeling these (cointegrated) data as a levels vector autoregression, rather than as an error-correction process, results in significantly higher error bias, but lower error variance, at long horizons.
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    Notes: . This paper departs from earlier work on location theory under uncertainty by considering an oligopoly case where the symmetric Cournot-Nash equilibrium of imperfectly competitive and identical firms are examined. It will be shown that once a Cournot competitive equilibrium is introduced, the demand function plays a central role in the choice of location, and the effects of changes in fixed costs, mean product price and price variability on the firm's optimum location and output are independent of absolute and/or relative risk aversion. These striking results are in sharp contrast with the well-known results obtained in previous contributions to the location literature.
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    Notes: Book reviewed in this article: Trading Industries, Trading Regions, edited by Helzi Noponen, Julie Graham, and Ann R. Markusen. The New Social Economy: Reworking the Division of Labor, by Andrew Sayer and Richard Walker. Regional Economic Modeling: A Systematic Approach to Economic Forecasting and Policy Analysis, by George I. Treyz. International Futures: Choices in the Creation of a New World Order, by Barry B. Hughes. The Migration of Labor, by Oded Stark. Regional Economic Development: Canada's Search for Solutions, second edition, by Donald J. Savoie. Scarcity by Design: The Legacy of New York City's Housing Policies, by Peter D. Salins and Gerald C. S. Mildner. The Metropolis in Black and White: Place, Power, and Polarization, edited by George C. Galster and Edward W. Hill. The Changing Social Geography of Canadian Cities, edited by Larry S. Bourne and David F. Ley. 1993. Land and Labor in the Greek World, by Alison Burford. Visions and Strategies of European Integration: A North European Perspective, edited by Lars Lundqvist and Lars Olof Persson. Playing the Field: Why Sports Teams Move and Cities Fight to Keep Them, by Charles C. Euchner. Minor League Baseball and Local Economic Development, by Arthur T. Johnson.
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    Notes: . The performance of five criteria for identifying significant interregional labor market linkages is compared. The criteria suggest differential model specifications based on the implicit tradeoff between parsimony and specification bias. Models were specified using: Akaike's final prediction error; Schwarz's Bayesian information criterion; an input-output model; Aoki's time series algorithm; and a combined input-outputi/time series approach. Models of the changes in monthly employment for twelve industries in six regions in northeastern Utah were specified using each criterion. Models based on Schwarz's criterion and the input-output criterion were preferred to those based on other criteria.
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    Notes: . Models of the firm with costly labor turnover and models of migration with location-specific consumption amenities are two standard explanations of the co-existence of persistent wage differentials with extensive labor mobility. Labor turnover models postulate a worker quit function where the quit rate is inversely related to the regional wage differential in the steady state. We use amenity-consumption models of migration to show conditions under which this postulate is consistent with household utility maximization. Our model extends standard amenity-consumption analysis by making the value of amenities contingent on the “state” of the household. These household states are defined in terms of demographic, education, and health characteristics and are assumed to follow a Markov process.
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    Notes: . Economies of scale, transportation costs, and factor mobility can interact to produce agglomerations even in the absence of any pure external economies. This paper offers a monopolistic competition model of a city that serves an agricultural hinterland; unlike most analyses in location theory, the model is fully general equilibrium, but it has strong links to older concepts in geography, notably the idea of “market potential.” The analysis shows that the forward and backward linkages that hold a population concentration together also allow that concentration to occur in a variety of possible sites—that is, there are multiple equilibria (indeed a continuum) for metropolitan location.
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    Notes: . This paper examines two-dimensional price competition on a plane, with a block metric and a square grid of main roadways. One store is located at each intersection of main roadways. Consumer locations include a uniform distribution over the plane, linear concentrations along main roadways, and point concentrations at intersections. Bertrmd-Nash mill price competition is examined first. The equilibrium price depends on the relative numbers of consumers in the three types of locations (and on travel costs per mile and the spacing between stores). If too many consumers are in each point concentration, then the price equilibrium is undermined by a high-price strategy or by mill-price undercutting. Spatial competition with price discrimination is examined next, and compared to Bertrand-Nash mill price competition.
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    Notes: . Real variable analysis has een used to great benefit in a variety of classical problems in location theory. In this paper we explore basic complex variable techniques in one formulation of the obnoxious location problem. A general definition of center points is first given and used to formulate several alternate versions of the obnoxious location problem. A logarithmic transformation is then used to demonstrate some equivalences between these families of distinct location problems (defined via center points). A prototype logarithmic potential function which results from this formulation is then investigated, and it is demonstrated that the extremal solutions with this objective reside on the boundary of its domain of definition. An application using zero- and one-dimensional centers is discussed, and a generalization to the spatial obnoxious problem is also briefly examined. We define a zero-dimensional center as a critical point of the logarithmic potential function, and it is shown that these centers are equivalent to the solutions of the Complex Moment Problem.
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    Notes: . Kraybill and Dorfman (1992) propose a model of intermediate and export demand which uses ordinary least-squares and linear systems techniques to produce a state-space representation of the time element of output change. Their model produces dynamic multipliers which trace the temporal path of regional growth, and has many advantages over previously employed time series methods. This study extends their methodology to accommodate structural shifts and outliers found in the least-squares relationship between industry and export output by using a recently-introduced technique–multiprocess mixture estimation. An application of the Kraybill-Dorfman method and the extensions proposed here to monthly time series data on Ohio employment is used to illustrate these issues.
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    Notes: . We reexamine the price structures and their welfare implications in three pricing regimes (mill, uniform and discriminatory) for a monopoly. We show that spatial price discrimination could provide the highest social welfare and, when consumers tastes are heterogeneous enough, also the highest consumer surplus. The superiority of spatial price discrimination is partially due to the larger output produced and partially due to differential treatment for consumers with heterogeneous tastes.
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    Notes: . Despite the importance of predicting investment expenditures for regional economic forecasting and policy simulation, little has been published on predicting regional investment expenditures. The primary reason is the lack of data on regional investment and capital stocks. Using two constructed investment data sets, this paper specifies and econometrically estimates stock adjustment equations of residential and nonresidential investment for the fifty states plus Washington, D.C. Unique aspects of the approach include maximum use of United States and regional data, and pooled estimation. The estimated pooled equations provide satisfactory historical fits to investment for most states. Also, the paper presents out-of-sample forecasts and simulated investment responses to an exogenous production increase.
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    Journal of regional science 32 (1992), S. 0 
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    Notes: . This paper examines the impacts of JRS articles in the areas of theory, methods and empirical analysis, as represented by subsequent citations reported in the Social Sciences Citation Index. A model relating the mix of theoretical, methodological and empirical research published in the JRS to subsequent citations is estimated. The time distribution of theoretical and empirical citations also indicates that the knowledge diffusion process in these two areas may be segmented.
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    Notes: Book Reviewed in this article:Statistics for Spatial Data, by Noel Cressie.Applications of the Expansion Method, edited by John Paul Jones, III and Emilio Casetti.Sources of Metropolitan Growth, edited by Edwin S. Mills and John F. McDonald.Work, Wages, and Poverty Income Distribution in Post-Industrial Philadelphia, by Janice Fanning Madden and William J. Stull.The International Petrochemical Industry: Evolution and Location, by Keith Chapman.Industrialization, Economic Development, and the Regional Question in the Third World From Import Substitution to Flexible Production, by Michael Storper.The Capitalist Space Economy: Geographical Analysis after Ricardo, Marx and SrafFa, by Eric Sheppard and Trevor J. Barnes.Regional Economic Analysis of Innovation and Incubation, by Evert Jan Davelaar.Technology and the Garden: Research Parks and Regional Economic Development, by Michael I. Luger and Harvey A. Goldstein.Improving Access to Health Care: What Can the States Do?, edited by John Goddeeris and Andrew Hogan.
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    Notes: . Weber's problem consists of locating a facility in the plane in such a way that the weighted sum of Euclidean distances to n given points be minimum. The case where some weights are positive and some are negative is shown to be a d.-c. program (i.e., a global optimization problem with both the objective function and constraint functions written as differences of convex functions), reducible to a problem of concave minimization over a convex set. The reduced problem is then solved by outer-approximation and vertex enumeration. Moreover, locational constraints can be taken into account by combining the previous algorithm with an enumerative procedure on the set of feasible regions. Finally, the algorithm is extended to solve the case where obnoxiousness of the facility is assumed to have exponential decay. Computational experience with n up to 1000 is described.
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    Notes: Book reviewed in this article: Long-Wave Rhythms in Economic Development and Political Behavior, by Brian J. L. Berry. Who Benefits from State and Local Economic Development Policies?, by Timothy J. Bartik. Regional Input-Output Modelling: New Developments and Interpretations, edited by John H. LI. Dewhurst, Geoffrey J. D. Hewings, and Rodney C. Jensen. Infrastructure and Regional Development, edited by R. W. Vickerman. Wage and Employment Adjustment in Local Labor Markets, by Randall W. Eberts and Joe A. Stone. Work in the Fast Lane: Flexibility, Divisions of Labor, and Inequality in High-Tech Industries, by Glenna Colclough and Charles M. Tolbert, II. The Geography of Science, by Harold Dorn. Economic Growth and Fiscal Planning: New York in the 1990s, by Roy Bahl and William Duncombe. A Small Town in Modern Times, by David Rayside. The Logit Model: An Introduction for Economists, by J. S. Cramer.
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    Notes: . Past analysis of public facility location has generally assumed a single goal, such as cost minimization or welfare maximization, and exogenous spatial pricing. This paper considers optimal facility location under a variety of goals. Furthermore, the facility manager is allowed to engage in freight absorption so that the delivered price to consumers need not reflect actual transportation costs. A systematic interaction among management goals, freight absorption, and the optimal size and spacing of public facilities is found.
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    Notes: . This paper outlines some arguments about the role of transportation costs in determining the welfare consequences of trade restrictions. The analysis uses a computable general equilibrium (CGE) model and presents the relevant features for trade analysis. The model has two alternative spatial formulations. In the first, all production and trade occur at one point, while in the second the regions are separated by distance. The calculated effects of a unilateral tariff increase are compared using the CGE model with the “point” and “distance” formulation. While the presence of transportation costs is crucial to some sectoral trade and production results, most welfare results are relatively insensitive to the spatial structure of the model.
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    Notes: . In estimating a discrete choice model one is actually estimating the parameters of a conditional indirect utility function. I explore the consequences of recognizing that this function is a maximum-value (frontier) function. I formulate several frontier choice models and, using a pilot empirical study of transportation mode choice, compare the resulting estimates with those of the conventional logit specification. Most strikingly, it appears that the values of time implied by the frontier models are substantially below those of the logit model. This implies that policies designed to improve travel times may be of less value to consumers than is conventionally believed.
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    Notes: . Commonly-employed spatial autocorrelation models imply heteroskedastic errors, but heteroskedasticity causes probit to be inconsistent. This paper proposes and illustrates the use of two categories of estimators for probit models with spatial autocorrelation. One category is based on the EM algorithm, and requires repeated application of a maximum-likelihood estimator. The other category, which can be applied to models derived using the spatial expansion method, only requires weighted least squares.
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    Notes: . Migration models have considered several different categories of determinants, including economic opportunities, amenities, and state and local fiscal factors. Migration has also been shown to depend on the individual's position in the life cycle. This paper represents a first attempt to integrate all three categories of determinants of migration into a life-cycle framework. Empirical findings generated from a countrywide model of white male migration, over the period 1970 to 1980, reveal that all three types of determinants are important. Specifically, economic opportunities are most influential for males during their working years. Amenities are also found to follow a life-cycle pattern with older migrants more attracted to amenable locations than their younger cohorts. Finally, state income and death taxes display life-cycle effects; working males in their peak earning years are detracted by high income taxes while all migrants aged 55 to 69 avoid counties in states with high inheritance and estate taxes.
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    Journal of regional science 31 (1991), S. 0 
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    Notes: . An accounting framework is presented that can be used as a basis for a regional general equilibrium economic model that meaningfully incorporates both real and financial activity. The accounting framework describes a circular flow from regional income to credit base, and back to regional income, including the balance of payments identity. Both real market transactions and capital stock changes are explicitly recognized. Linkages between real activity flows and sectoral balance sheets are highlighted. Financial activity is recognized as a service, and all assets are assumed to be valued at market prices.
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    Notes: . We formulate the spatial Stackelberg-Nash-Cournot competitive network equilibrium problem as a variational inequality constrained mathematical program. Our model differs from previous models of Stackelberg oligopolistic competition in that it employs explicit shipping decision variables and a general network topology. That is, the production and distribution decisions of the Stackelberg firm are determined simultaneously over a discrete network. We explore the existence of solutions to the proposed model, and we also numerically test a sensitivity analysis based algorithm. In particular, we illustrate how sensitivity analysis results can be used to generate the Cournot reaction necessary to solve the Stackelberg problem.
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    Journal of regional science 31 (1991), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Type of Medium: Electronic Resource
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    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of regional science 31 (1991), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Notes: . A general equilibrium multiperiod linear programming model of urban land use is used to identify reverse commutation as a rational response to economic change. Information about future economic conditions is complete, and capital is replaceable at finite cost. Export mixes are defined exogenously, and temporal shifts between activities of different land intensities are shown to induce reverse commutes as one way of avoiding the cost of land use change.
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  • 95
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    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of regional science 32 (1992), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Notes: . Conditions for spatial price equilibrium are derived for a set of firms in oligopolistic spatial competition, distributed at fixed locations in a heterogeneous region where consumer purchasing patterns are a probabilistic function of the price distribution rather than a deterministic function of proximity to firms. The resulting prices vary with accessibility to consumers or with the degree of local spatial monopoly, and result in non-zero profits for firms. Conditions describing the existence and stability properties of this spatial price equilibrium are defined, and are shown to be equivalent for two different hypotheses concerning disequilibrium pricing behavior: a partial price adjustment model and a Bertrand game. For two different profit goals, total profit maximization and profit rate maximization, it is shown that a spatial price equilibrium exists and is at least locally quasi-stable.
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  • 96
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    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of regional science 32 (1992), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Notes: . Recursive algorithms for the elimination of redundant paths in spatial lag operators are introduced. It is shown that these algorithms have superior computational properties in comparison with the cumbersome procedure proposed by Ross and Harary (1952). A rigorous definition of spatial lag operators is given, while a number of mathematical results and properties are derived. Theoretical and empirical results regarding the performance of the proposed algorithms are presented.
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  • 97
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    Oxford, UK : Blackwell Publishing Ltd
    Journal of regional science 31 (1991), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Notes: . Individuals’human capital investments in their regions, industries, and occupations are measured as a function of the years they spend in their current region, industry, or occupation, and these investments are shown empirically to influence migration. There is an interesting life cycle pattern to migration: it falls rapidly with new investments, but then resurfaces as an opportunity to renew investments and increase the growth rate of income. Income regressions substantiate the life cycle path of income growth implied by the migration model.
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  • 98
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    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of regional science 31 (1991), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Notes: . We give a very simple formula for obtaining covariance matrices of gravity model parameter estimates. We investigate bias and robustness of parameter estimates, as well as the convergence of the procedure given in Sen (1986) for obtaining these estimates.
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  • 99
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of regional science 31 (1991), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Type of Medium: Electronic Resource
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  • 100
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of regional science 31 (1991), S. 0 
    ISSN: 1467-9787
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography , Economics
    Notes: Book reviewed in this article: Place, Migration, and Development in the Third World: An Alternative View, by Lawrence A. Brown. Migration and Labor Market Adjustment, edited by Jouke van Dijk, Hendrik H. Folmer, Henry W. Herzog, Jr., and Alan M. Schlottmann. Quantitative Methods for Market-Oriented Economic Analysis over Space and Time, edited by Walter C. Labys, Takashi Takayama, and Noel D. Uri. Chaos and Socio-Spatial Dynamics, by Dimitrios S. Dendrinos and Michael Sonis. Spatial Data Analysis in the Social and Environmental Sciences, by Robert Haining. Economic Restructuring of the American Midwest, edited by Richard D. Bingham and Randall W. Eberts. An Empirical Assessment of Factors Shaping Regional Competitiveness in Problem Regions, by Commission of the European Communities. Regional Development Processes and Policies, edited by William H. Berentsen, Darrick R. Danta, and Eta Daróczi. Regional Studies and Rural Development, by Josef G. M. Hilhorst.
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