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  • Blackwell Publishing Ltd  (7,383)
  • Cambridge University Press  (2,674)
  • American Meteorological Society
  • 1995-1999  (11,417)
  • 1996  (11,417)
Collection
Publisher
Years
  • 1995-1999  (11,417)
Year
  • 1
    Electronic Resource
    Electronic Resource
    For Better or Worcester: Reflections on Gender, Work and Space (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00526.x
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  • 2
    Electronic Resource
    Electronic Resource
    Review of Gender, Work and Space (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00529.x
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  • 3
    Electronic Resource
    Electronic Resource
    Response to Reviews of Gender, Work and Space (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00530.x
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  • 4
    Electronic Resource
    Electronic Resource
    Sectarianism, Socioeconomic Competition and the Political Economy of Ulster Loyalism (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Within this paper we chart the link between class and the politics of Loyalism in Northern Ireland. In so doing we argue that sectarianism is a socio-cultural construct which undermines the potential for political stability. The paper analyzes the evolution of Loyalism and in so doing contends that the extreme political violence which emanated from certain paramilitary groups was conditioned by socio-economic and political alterations in Northern Ireland. The paper indicates how class relationships clearly cross-cut politics, economics, ideology and culture.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00532.x
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  • 5
    Electronic Resource
    Electronic Resource
    Book Reviews (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Book reviewed in this articles:Gideon S. Golany Ethics and Urban Design: Culture, Form and Environment.Thomas Richards (1993) The Imperial Archive.J. M Blaut The Coloniser's Model of the World: Geographical Diffusionism and Eurocentric History.Dolores Hayden, (1995) The Power of Place: Urban Landscapes as Public History.Paela Shurmer-Smith and Kevin Hannam (1994) Worlds of Desire, Realms of Power: A Cultural Geography.C. Greed, (1994) Women and Planning: Creating Gendered Realities
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00534.x
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  • 6
    Electronic Resource
    Electronic Resource
    Abstracts (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00535.x
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  • 7
    Electronic Resource
    Electronic Resource
    Lived Labor Markets (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00528.x
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  • 8
    Electronic Resource
    Electronic Resource
    The Third Space as Critical Engagement (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00533.x
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  • 9
    Electronic Resource
    Electronic Resource
    Geographies of Trade Unionism: Translating Traditions Across Space and Time (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: In the context of national trade union decline, this paper explores the geography of trade union organization through case study research at the Shredded Wheat Factory in Welwyn Garden City (Herfordshire, UK). This example highlights the geographical constitution of trade union traditions, focusing upon the ways in which collective practices and ideas are forged in particular places but also how trade union traditions can be translated across space, from one place to another. This translation is argued to take place in three ways: (i) through the direct migration of workers, (ii) through the “demonstration effects” of strikes, trade union defeats and the ensuing media and trade union coverage of these events, and (iii) through solidarity initiatives taken by workers themselves. Rather than understanding workers' traditions as being historical products in place, I argue they are simultaneously geographical in their constitution. Trade unionism is shown to be processual, constantly evolving in and across time and space. Through such insights the research enhances existing geographical work in the field, advocating an approach which focuses upon the agency involved in trade union organization, the processual nature of trade union organization and the importance of the spatial translation of trade union traditions.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00531.x
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  • 10
    Electronic Resource
    Electronic Resource
    GEOGRAPHY, ECOLOGY, DEMOCRACY (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Critical geography must go beyond the spaces of power to political ecology. Human activity is necessarily ecological, and so too are politics and democracy. Thus, the regulation of environmental contradictions raises fundamental issues of democratic politics and principles of social justice. The answers to environmental crises are not to be found in the state or the market, the two leviathans, but in the ability of humans to govern themselves democratically and justly in relation to the earth. Because landscape is the sedimented history of human transformations of nature, love of landscapes and their Otherness is a testing ground for a moral and democratic relation to nature.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00460.x
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  • 11
    Electronic Resource
    Electronic Resource
    THE NEW PRIMITIVES: IDENTITY, LANDSCAPE AND CULTURAL APPROPRIATION IN THE MYTHOPOETIC MEN'S MOVEMENT (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: This paper explores the beliefs and practices of the mythopoetic men's movement. More specifically, it focuses on the movement's adherents' representations of “racial” identity and wilderness. After introducing the movement, I argue that, a) the mythopoetic men's movement creatively reworks colonialist fantasies of non-Western societies and landscapes, and b) that this process acts to naturalize the movement's adherents' contradictory experiences of power. The paper concludes with some observations on primitivist cultural appropriation.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00463.x
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  • 12
    Electronic Resource
    Electronic Resource
    MARJORIE NICOLSON AND THE AESTHETICS OF NATURE (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00465.x
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  • 13
    Electronic Resource
    Electronic Resource
    Book Reviews (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Book reviewed in this article: Thomas A. Markus, Buildings and Power: Freedom and Control in the Origin of Modern Building Types. John Pickles, editor, Ground Truth: The Social Implications of Geographic Information Systems. M. Camoy, M. Castells, S. S. Cohen and F. H. Cardoso, The New Global Economy in the Information Age: Reflections on Our Changing World. Anne Power, Hovels to High Rise: State Housing in Europe Since 1850.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00466.x
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  • 14
    Electronic Resource
    Electronic Resource
    A CRITICAL REVIEW OF THE METHODOLOGY OF ENVIRONMENTAL RACISM RESEARCH (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Research on environmental racism has emphasized positive rationality. While useful for policy and legal interventions, this is problematic from a radical political and theoretical viewpoint. By examining two key research questions–is “race” or class responsible for discriminatory patterns? which came first, the people or the hazard?–I explore the implicit assumptions concerning racism within this framework. This reveals a large, pervasive set of misconceptions, including a tendency to reduce racism to overt actions, denying racism as ideology, and insisting on a fixed, unitary idea of racism. Both scholars committed to antiracism and those who challenge environmental justice activists' claims reproduce these conceptualizations.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00519.x
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  • 15
    Electronic Resource
    Electronic Resource
    Abstracts (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00524.x
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  • 16
    Electronic Resource
    Electronic Resource
    HISTORICAL PRESERVATION AND IDENTITY: THE ALAMO AND THE PRODUCTION OF A CONSUMER LANDSCAPE (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Historical preservation often reveals more about contemporary culture than about history. The Alamo in San Antonio, Texas, is just such a case. No other large US city is so dominated by a single historical event, and the Alamo plays a central role as a cultural icon for regional Anglo identity, a symbol of the Anglo-dominated social hierarchy. Its preservation and restoration have coincided with modern identity formation contextualized by commodities. Thus, a critical part of this project is the development of a consumer landscape as an economic extension of the Alamo that promotes consumption by harmonizing with prevailing Anglo conceptions of ethnic identities; not simply a strategically located commercial zone, but an integral part of the pilgrimage to the monument, providing a mechanism for socialization, including “racialization”, contextualized by commodities.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00669.x
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  • 17
    Electronic Resource
    Electronic Resource
    FRAGMENTS OF POSTWAR LOS ANGELES: THE BLACK DAHLIA IN FACT AND FICTION (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
    Details
    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: The gruesome murder of Elizabeth Short, a sex worker nicknamed the “Black Dahlia,” created a real-life film noir tale in postwar Los Angeles. In the unsuccessful search for her killer, the tabloid press and psychiatric “experts” indicted all forms of the open sexual expression brought on by the war as complicit. The problematic connection made at the time between the sexually dangerous woman and the corruptions of postwar Los Angeles has been reinforced in the numerous fictional retellings of the case written in the past fifteen years.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00670.x
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  • 18
    Electronic Resource
    Electronic Resource
    OUT OF PLACE IN THE COUNTRY: TRAVELLERS AND THE “RURAL IDYLL” (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
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    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: A controversial new Criminal Justice and Public Order Act in Great Britain contains measures to curb the lifestyles of a group known collectively as “New Age Travellers”. This paper examines these travellers as “folk devils” of the Conservative “New Right” on a number of levels: their lifestyle does not conform to that espoused by authoritarian or libertarian Conservatism; moreover, they violate the spatial order of contemporary British society by trespassing against the dominant social representation of the countryside — the “rural idyll”. In Parliamentary debates speakers drew on the rural idyll to defend the exclusivity of access to the countryside. Notably, whilst Gypsies were seen as having a legitimate if highly marginalized position in the rural representation, few saw any place for New Age travellers.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00671.x
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  • 19
    Electronic Resource
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    Book Reviews (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Antipode 28 (1996), S. 0 
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    ISSN: 1467-8330
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Book reviewed in this article: Sarah A. Radcliffe and Sallie Westwood (Eds.) ‘Viva’. Women and popular protest in Latin America. J. Little, Gender, Planning and the Policy Process. Vivian Kinnaird and Derek Hall (Eds.) Tourism: A Gender Analysis. Anne Buttimer, Geography and the Human Spirit. Graham Huggan. Territorial Disputes: Maps and Mapping Strategies in Contemporary Canadian and Australian Fiction.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8330.1996.tb00673.x
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  • 20
    Electronic Resource
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    Creativity Techniques in Germany (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The article gives an overview of the development of creativity techniques in Germany starting with the routes in the 1960s. Typical German methods are described; namely: Brainwriting, Visual Confrontation and Morphological Techniques. Also a software-tool supporting the process of creative problem solving in all phases is presented. The last section deals with a survey in German industry showing significantly that companies applying creativity techniques more frequently and more systematically realize higher levels of business success.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00125.x
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  • 21
    Electronic Resource
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    Commentary: Innovation and Ignorance (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00129.x
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  • 22
    Electronic Resource
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    Innovation, Creativity and Information Behaviour (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The inventors of creativity techniques, such as brainstorming, brainwriting, synectics, bionics, and morphological analysis, leave no doubt about the effectiveness of these instruments for generation of new ideas. But definite empirical proof is still lacking. We argue that differences in assessing the creativity techniques exist as a result of ignoring difficulties of users in coping with information behaviour. Most of the structures neglect the problem of information overload. They favour uncontrollable information generation and processing. This leads mainly to slogans, catch-phrases, and aphorisms. Complex follow-up work is required. We argue that an optimal fit is needed between the problem to be solved and the respective creativity technique.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00140.x
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  • 23
    Electronic Resource
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    Book of the Quarter (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00144.x
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  • 24
    Electronic Resource
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    Editorial (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00235.x
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  • 25
    Electronic Resource
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    The Cyclical Behavior of Net Exports: Temporary and Persistent Movements (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper explores the empirical relationship of net exports, domestic output, and foreign output. It presents evidence supporting a consumption-smoothing motive for trade in goods. Classical models of the international macroeconomy typically allow for trade in claims on both home and foreign output. This paper lends empirical support to this setup by showing that highly transitory shocks to output cause net exports from the country experiencing the shock to rise. Persistent shocks have opposite effects—a result consistent with the role persistent shocks play in signaling future investment opportunities.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00085.x
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  • 26
    Electronic Resource
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    Revenue Motives and Trade Liberalization (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Governments in more-developed economies partially compensate import-competing industries when world prices fall, i.e., they lean against the wind. Less-developed economies often liberalize in response to the same shock. We use a political-support maximization model with revenue motives to derive conditions under which a rational policymaker would respond to lower woild prices by reducing tariff protection for an import-competing industry. An initial tariff that exceeds the maximum revenue level proves necessary but not sufficient for politically optimal liberalization following a fall in the world price of the importable good.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00103.x
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  • 27
    Electronic Resource
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    Correcting Trade Distortions in a Small Open Economy (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper considers the second-best strategy of correcting a wide variety of trade distortions in a small open economy with perfect competition in all markets. Using the tools of duality, we obtain some general properties of the structure and the levels of the optimal taxlsubsidy rates. The paper also analyzes the welfare effects of unilateral piecemeal trade policy reforms when some of the quota distortions—imposed by the foreign countries—are unalterable. It is shown that the merits of unilateral trade policy reforms that are emphasized in the literature crucially depend on the absence of unalterable foreign imposed quotas.
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    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00105.x
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  • 28
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    On the Causality between Export Growth and GDP Growth: An Empirical Reinvestigation (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Although conventional wisdom suggests that export growth contributes positively to economic growth, empirical studies on the causal links between exports and output have provided little support for the exportled growth hypothesis. This paper reexamines the direction of causation by handling properly two important issues in causality tests: the characteristics of the data, and the choice of optimal lags. The results of this study show that in a sample of 32 economies, the export-led hypothesis is supported by 17 economies and is strongly supported by 9 economies.
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    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00094.x
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  • 29
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    International Capital Mobility and Development Policy in a Dual Economy (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper introduces international capital mobility in a general-equilibrium model of a small developing economy which is characterized by a dualistic economic structure. The model is then used to analyze the positive and the normative aspects of development policies that are often recommended for achieving employment-related objectives in developing economies.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00095.x
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  • 30
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    Purchasing Power Parity When Prices Are I(2) (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines the purchasing power parity (PPP) hypothesis over the modern float using data on 15 OECD currencies. Evidence is presented that suggests the price levels evolve as second-difference stationary processes, i.e., integrated of order two (P1– I(2)). A necessary condition for PPP when prices are I(2) is that prices are cointegrated across countries to an I(1) relative price. In general this relative price is not the same as the simple price ratio. For some of the relationships examined, this relative price level is cointegrated with the exchange rate, implying a long-run equilibrium between nominal exchange rates and prices.
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    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00099.x
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  • 31
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    Which Single Currency for Western Europe? (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The Maastricht Treaty calls for a single European money in the third and final stage of European monetary integration. The purpose of this paper is to infer the preferred currency from the point of view of economic agents in each EMS country by ranking the realized distributions of returns from holding foreign currencies. These rankings are obtained using the notion of generalized stochastic dominance. The preferred currency varies with time and the portfolio considered. In all cases, the ECU is not supported as a likely dominant money.
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    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00100.x
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  • 32
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    Explaining Managed Trade as Rational Cheating (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Postwar “managed-trade” policies feature low baseline tariffs combined with selective nontariff protection. This paper interprets managed trade as a rational strategy to undermine trade-liberalization agreements in the absence of credible external enforcement. Analyzing the Kennedy GATT Round, I explore the calculus that led the United States to undermine across-the-board tariff reductions selectively by introducing nontariff barriers in industries with rapidly rising import demand. I show empirically that nontariff barrier dynamics across 216 industries support a rational-cheating interpretation of managed-trade policy.
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    Inflationary Expectations, Variable Output, and Exchange-Rate Dynamics (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper develops a model of exchange-rate dynamics characterized by inflationary expectations held with perfect foresight, sticky wages, and sluggish output adjustment. In this framework monetary expansion initially lowers interest rates because of sluggish output and price adjustment but quite surprisingly produces exchange-rate overshooting or undershooting. Moreover, after its initial depreciation in the overshooting case, the domestic currency temporarily appreciates beyond its new long-run equilibrium level. In the undershooting case, the home currency temporarily appreciates away from its new long-run equilibrium level. Finally, the dynamic real exchange rate-real interest rate relationship at times becomes inverse.
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    A Reexamination of Long-Run PPP: The Case of Canada, the UK, and the US (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The inherent nonstationarity of the variables has led many researchers to use unit root and cointegration methodologies to analyze the PPP hypothesis. The imposition of proportionality and symmetry restrictions has been a common practice yet no explicit hypothesis tests have been conducted to determine the validity of such restrictions. Few of the studies have dealt with the presence of deterministic trends in the data. This study uses a long span of data and explicitly tests the proportionality and symmetry restrictions implied by PPP. A careful treatment of the role of deterministic trends in the data is also included.
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    VARIATION OF SOIL CHEMICAL PROPERTIES OVER NIGERIAN SAVANNA (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Singapore journal of tropical geography 16 (1996), S. 0 
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    ISSN: 1467-9493
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: An analysis of relationships between selected soil chemical properties and parameters of parent material, climate and relief was undertaken for the savanna of north central Nigeria. Step by step examination of individual properties and the environmental parameters reveals numerous invariably disparate relationships often explicable in terms of local conditions. However, an analysis of covariance involving all variables shows that variations in base elements and cation exchange capacity are more strongly related to lithology than climatic or relief parameters. Soil pH and base saturation percentage, on the other hand, are influenced more by rainfall than parent material, altitude and slope position. Temperature and slope gradient are relatively unimportant in the variability of all soil properties. On the whole, the soil properties show significantly greater values over basalt, shale and alluvium than gneiss, schist and colluvium which in turn show greater values than sandstone, granite, granite gneiss, aeolian and ironpan-rich deposits. Exchangeable cations and cation exchange capacity increase with an increase in rainfall, altitude and downslope position while pH and base saturation per cent show a decreasing trend.
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    International R&D Rivalry and Industrial Strategy without Government Commitment (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We examine optimal industrial and trade policies in a series of dynamic oligopoly games in which a home and a foreign firm compete in R&D and output. Alternative assumptions about the timing of moves and the ability of agents to commit intertemporally are considered. We show that the home export subsidy, R&D subsidy and welfarc are higher when government commitment is credible than in the dynamically consistent equilibrium without commitment. Commitment thus yields welfare gains (though they are small) but so does unanticipated reneging, whereas reneging which is anticipated by firms yields the lowest welfare of all.
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    Time-Series Support for Balassa's Productivity-Bias Hypothesis: Evidence from Korea (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper we use the Johansen and Juselius cointegration technique and quarterly data over the period 1979–1993 to test the productivity-bias hypothesis between Korea and four of its major trading partners (Germany, Japan, the United Kingdom, and the United States). The results show that in all four cases the deviation of purchasing-power parity (PPP) from the equilibrium exchange rate has a long-run relationship with the productivity ratios, supporting the notion that as Korea becomes relatively more productive, the Korean won appreciates in real terms.
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    Akira Takayama: A Memoir (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: When Akira Takayama passed away this winter, the economics profession lost one of its most productive and most passionate members. This memoir catalogues Professor Takayama's publications and offers some insight into his contributions and personality from a few of his colleagues.
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    Special ProfileJames E. Meade, 1907–1995 (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    International Economic Policy in the 1990s (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    Reforming Planned Economies in an Integrating World Economy (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
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    Incentive Pay, Worker Effort, and Trade Protection (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
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    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Positive and normative aspects of trade policy are examined when firms offer incentive pay to workers, such as piece-rate pay and profit sharing, to deal with worker moral hazard. Protection increases the incentive pay rate. Its effect on effort depends upon the degree of labor mobility and the type of the incentive pay. In the presence of a piece-rate pay, protection induces second-order welfare losses. But in the presence of profit sharing, there is a direct impact of protection on the incentive-compatibility constraint facing firms and hence there is a first-order positive effect on welfare.
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    Is the Preference for Children so Low, or is the Price of Time so High? A simultaneous model of fertility and participation in Italy with cohort effects (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 10 (1996), S. 0 
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    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: : This paper presents a simultaneous model of fertility and female participation in Italy, estimated with a sequence of cross-sections of micro data. Cohort dummies are used to capture permanent effects, including cohort changes in preferences. The cohort effects turn out to be not very significant, the point estimates suggesting a decreasing trend in participation and an increasing trend in fertility. The wage effects are instead rather strong and significant. The model produces simulations which are close to actual trends, which would seem largely explained by wage incentives. The explanation for a particularly high elasticity of fertility with respect to female wage should ultimately be searched for in the specific differences which characterize the Italian social and institutional environment.
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    The Effect of the Supply of Subsidized Day-care Facilities on Female Labour Supply (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 10 (1996), S. 0 
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    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: : In this article the hypothesis that a higher level of subsidized day-care facilities leads to an increase in female labour supply is tested for the Netherlands on the basis of two surveys. The results show that (allowing for the women's wage rate, her non-labour income, her age, and the presence of children) labour supply is higher when subsidized day-care supply is higher. However, after including variables that reflect social norms the effect of day-care supply on female labour supply, though still positive and significant, becomes much weaker.
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    Heterogeneity and Unemployment Duration (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 10 (1996), S. 0 
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    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: : Various unemployment duration models are estimated on a large Norwegian dataset covering labour market history 1.1.1989-31.12.1992 for all persons who became unemployed during October 1990. As many unemployed leave the unemployment register without going directly to a job, two alternative definitions of unemployment are used — register unemployment and joblessness. The problem of heterogeneity is addressed both by partitioning the individuals into four categories by previous unemployment history, and by including a random term in the job hazard. Observed as well as unobserved heterogeneity affects the estimates of expected duration to a great extent. When gamma-distributed unobserved heterogeneity is accounted for, the estimates of duration dependence become more positive relative to models where unobserved heterogeneity is ignored. Among persons who are entitled to unemployment benefit, the duration dependence appears to be significantly positive. Alternative specifications of the baseline hazard hardly affect estimates of the effects of the covariates on duration.
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    Immigration and Occupational Crowding in the United States (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 10 (1996), S. 0 
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    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: : The 1990 National Longitudinal Survey of Youth is utilized to explore the effects that the occupational crowding of immigrants has on the real wages of indigenous and non-US citizen workers already in the United States. Findings include adverse wage effects as a result of the crowding of immigrants on the following worker categories: (1) indigenous, unskilled, white or black workers and (2) non-US citizen, skilled or unskilled black workers. Foreign-born, skilled, and white workers already in the US realize a positive effect on their real wages as a result of having a large relative number of non-US citizens in their occupations.
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    An Integrated Model of Cumulative Growth: Empirical Evidence for Nine OECD Countries, 1960-1990 (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 10 (1996), S. 0 
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    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: : This paper is an empirical analysis of the interaction between the dynamics of demand, productivity and employment in nine industrial countries: the United States, Canada, Japan, West Germany, France, Italy, the United Kingdom, the Netherlands and Belgium, 1960-1990. Its theoretical framework derives from the Kaldorian approach to cumulative growth in both its external and internal causation versions. The model we adopt is of an integrated kind, in which foreign demand is determined endogenously and domestic demand is divided into various component parts: exogenous for the public sector and endogenous for the private. More specifically, this is carried out by describing the way the dynamics of private consumption and private investments depend on economic variables located in the spheres of distribution and of technology, so that we can consider the operations of income compensation effects induced by technological change — via changes in income and its social distribution — as well as price compensation effects— the higher competitiveness of national products in foreign markets — mediated through the dynamics of exports.
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    MINIMIZING TRANSACTION COSTS OF OPTION HEDGING STRATEGIES (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: This paper introduces a method for constructing option hedging strategies in the presence of transaction costs. the approach begins with the prescription of a large, but tractable class of strategies. A variational problem is constructed in which the expected square replication error is minimized subject to a fixed initial portfolio value from among the class of strategies. the solution of this variational problem results in a replicating strategy which simulations show outperforms strategies previously considered. We illustrate this method in a particular class of strategies which contains Leland's discrete time replication scheme. We show that a strategy which uses varying time intervals between hedging can significantly reduce replication error for a given initial wealth. We will also construct and assess strategies obtained by optimizing a mean-variance criterion. This methodology extends to other optimization problems involving initial portfolio value and expected square replication error, as well as to other classes of strategies.
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    ERRATUM TO “A STOCHASTIC EXTENSION OF THE MILLER-MODIGLIANI FRAMEWORK” (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
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    URL: http://dx.doi.org/10.1111/j.1467-9965.1996.tb00124.x
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    A YIELD-FACTOR MODEL OF INTEREST RATES (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: This paper presents a consistent and arbitrage-free multifactor model of the term structure of interest rates in which yields at selected fixed maturities follow a parametric muitivariate Markov diffusion process with “stochastic volatility.” the yield of any zero-coupon bond is taken to be a maturity-dependent affine combination of the selected “basis” set of yields. We provide necessary and sufficient conditions on the stochastic model for this affine representation. We include numerical techniques for solving the model, as well as numerical techniques for calculating the prices of term-structure derivative prices. the case of jump diffusions is also considered.
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    PRICING AND HEDGING DOUBLE-BARRIER OPTIONS: A PROBABILISTIC APPROACH (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: Barrier options have become increasingly popular over the last few years. Less expensive than standard options, they may provide the appropriate hedge in a number of risk management strategies. In the case of a single-barrier option, the valuation problem is not very difficult (see Merton 1973 and Goldman, Sosin, and Gatto 1979). the situation where the option gets knocked out when the underlying instrument hits either of two well-defined boundaries is less straightforward. Kunitomo and Ikeda (1992) provide a pricing formula expressed as the sum of an infinite series whose convergence is studied through numerical procedures and suggested to be rapid. We follow a methodology which proved quite successful in the case of Asian options (see Geman and Yor 1992,1993) and which has its roots in some fundamental properties of Brownian motion. This methodology permits the derivation of a simple expression of the Laplace transform of the double-barrir price with respect to its maturity date. the inversion of the Laplace transform using techniques developed by Geman and Eydeland (1995), is then fairly easy to perform.
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    PORTFOLIO SELECTION PROBLEMS VIA THE BIVARIATE CHARACTERIZATION OF STOCHASTIC DOMINANCE RELATIONS (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: Stochastic dominance (SD) is a very useful tool in various areas of economics and finance. the purpose of this paper is to provide the results of SD relations developed in other areas such as applied probability which, we believe, are useful for many portfolio selection problems. In particular, the bivariate characterization of SD relations given by Shanthikumar and Yao (1991) is a powerful tool for the demand and the shift effect problems in optimal portfolios. the method enables one to extend many results that hold for the case where the underlying lying assets are statistically independent to the dependent case directly.
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    MARTINGALE APPROACH TO PRICING PERPETUAL AMERICAN OPTIONS ON TWO STOCKS (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We study the pricing of American options on two stocks without expiration date and with payoff functions which are positively homogeneous with respect to the two stock prices. Examples of such options are the perpetuai Margrabe option, whose payoff is the amount by which one stock outperforms the other, and the perpetual maximum option, whose payoff is the maximum of the two stock prices Our approach to pricing such options is to take advantage of their stationary nature and apply the optional sampling theorem to two martingales constructed with respect to the risk-neutral measure the optimal exercise boundaries, which do not vary with respect to the time variable, are determined by the smooth pasting or high contact condition the martingale approach avoids the use of differential equations.
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    CHOQUET PRICING FOR FINANCIAL MARKETS WITH FRICTIONS (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: In markets where dealers play a central role, bid-ask spreads inhibit asset valuation as defined by the formation cost of a replicating portfolio. We introduce a nonlinear valuation formula similar to the usual expectation with respect to the risk-adjusted probability measure. This formula expresses the asset's selling and buying prices set by dealers as the Choquet integrals of their random payoffs We investigate several price puzzles: the violation of the put-call parity and the fact that the components of a security can sell at a premium to the underlying security (primes and scores).
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    OPTION HEDGING AND IMPLIED VOLATILITIES IN A STOCHASTIC VOLATILITY MODEL (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: In the stochastic volatility framework of Hull and White (1987), we characterize the so-called Black and Scholes implied volatility as a function of two arguments the ratio of the strike to the underlying asset price and the instantaneous value of the volatility By studying the variation m the first argument, we show that the usual hedging methods, through the Black and Scholes model, lead to an underhedged (resp. overhedged) position for in-the-money (resp out-of the-money) options, and a perfect partial hedged position for at the-money options These results are shown to be closely related to the smile effect, which is proved to be a natural consequence of the stochastic volatility feature the deterministic dependence of the implied volatility on the underlying volatility process suggests the use of implied volatility data for the estimation of the parameters of interest A statistical procedure of filtering (of the latent volatility process) and estimation (of its parameters) is shown to be strongly consistent and asymptotically normal.
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    INFINITE HORIZON INCOMPLETE MARKETS WITH A CONTINUUM OF STATES (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: In this paper we address existence of equilibria in an incomplete markets economy with countably many periods and a continuum of states at each node of the infinite tree. We consider two models: one where agents have to honor their commitments and another where default is allowed. In both models, marginal utility of income, at each node, is shown to be bounded, and we prove existence by taking finite-dimensional approximations and applying Fatou's lemma sequentially.
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    GENERAL EQUILIBRIUM WITH CONSTANT RELATIVE RISK AVERSION AND VASICEK INTEREST RATES (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We consider a pure exchange economy consisting of a single risky asset whose dividend drift rate is modeled as an Omstein-Uhlenbeck process, and a representative agent with power-utility who, in equilibrium, consumes the dividend paid by the risky asset. Endogenously determined interest rates are found to be of the Vasicek (1977) type the mean and variance of the equilibrium stock price are stochastic and have mean-reverting components A closed-form solution for a standard call option is determined for the case of log-utility. Equilibrium values have interesting implications for the equity premium puzzle observed by Mehra and Prescott (1985)
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    INCOMPLETE MARKETS IN INFINITE HORIZON: DEBT CONSTRAINTS VERSUS NODE PRICES (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: The general equilibrium model with incomplete markets is here extended to infinite horizon economies populated by a finite number of infinitely lived agents. the crucial issue that divides the infinite horizon setting from the finite horizon setting is in the nature of borrowing constraints, which added to spot constraints, define a plausible budget set for individual agents. the paper relates seven alternative definitions of equilibrium and states corresponding equilibrium existence theorems when assets are one-period and purely financial.
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    HEDGING AND PORTFOLIO OPTIMIZATION UNDER TRANSACTION COSTS: A MARTINGALE APPROACH (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We derive a formula for the minimal initial wealth needed to hedge an arbitrary contingent claim in a continuous-time model with proportional transaction costs; the expression obtained can be interpreted as the supremum of expected discounted values of the claim, over all (pairs of) probability measures under which the “wealth process” is a supermartingale. Next, we prove the existence of an optimal solution to the portfolio optimization problem of maximizing utility from terminal wealth in the same model, we also characterize this solution via a transformation to a hedging problem: the optimal portfolio is the one that hedges the inverse of marginal utility evaluated at the shadow state-price density solving the corresponding dual problem, if such exists. We can then use the optimal shadow state-price density for pricing contingent claims in this market. the mathematical tools are those of continuous-time martingales, convex analysis, functional analysis, and duality theory.
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    WIENER CHAOS: A NEW APPROACH TO OPTION HEDGING (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: This paper addresses the problem of estimating and analyzing the residual risk that is not hedged by a discrete hedging strategy. the use of die chaotic representation allows an elegant decomposition of the residual risk to be hedged by adequate assets. Alternative strategies to the classical delta hedging and optimization under the risk-neutral and historical probabilities are discussed.
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    EQUILIBRIUM STATE PRICES IN A STOCHASTIC VOLATILITY MODEL (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: In a stochastic volatility model, the no-free-lunch assumption does not induce a unique arbitrage price because of market incompleteness. In this paper, we consider a contingent claim on the primitive asset, traded in zero net supply. Given a system of Arrow-Debreu state prices, we provide necessary and sufficient conditions for consistency with an intertemporal additive equilibrium model that we fully characterize. We show that the risk premia corresponding to the minimal martingale of Föllmer and Schweizer (1991) are consistent with logarithmic preferences, while the Hull and White model (1987) (volatility risk premium independent of the asset price) is consistent with a class of utility functions including constant relative risk aversion (CRRA) ones.
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    PRICING OF AMERICAN PATH-DEPENDENT CONTINGENT CLAIMS (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: We consider the problem of pricing path-dependent contingent claims. Classically, this problem can be cast into the Black-Scholes valuation framework through inclusion of the path-dependent variables into the state space. This leads to solving a degenerate advection-diffusion partial differential equation (PDE). We first estabilish necessary and sufficient conditions under which degenerate diffusions can be reduced to lower-dimensional nondegenerate diffusions. We apply these results to path-dependent options. Then, we describe a new numerical technique, called forward shooting grid (FSG) method, that efficiently copes with degenerate diffusion PDEs. Finally, we show that the FSG method is unconditionally stable and convergent. the FSG method is the first capable of dealing with the early exercise condition of American options. Several numerical examples are presented and discussed./〉
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    DYNAMIC SPANNING: ARE OPTIONS AN APPROPRIATE INSTRUMENT? (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: Ross (1976) has shown, in a static framework, how options can complete financial markets. This paper examines the possible extensions of Ross's idea in a dynamic setup. Surprisingly enough, we find that the answer is very sensitive to the choice of the stochastic model for the underlying security returns. More specifically we obtain the following results: In a discrete-time model, classical European options typically become redundant with some probability (Proposition 2.1). Obnly path dependent (“exotic”) options may generate dynamic spanning (Proposition 4.1). In a continuous-time model with stochastic volatility of the underlying security, and under reasonable assumptions, a European option is always a good instrument for completing markets (Proposition 5.2).
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    ANNOUNCEMENT (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
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    PRICING CALLABLE BONDS BY MEANS OF GREEN'S FUNCTION (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: This paper derives a closed-form solutin for the price of the European and semi-Amirican callable bond for two popular one-factor models of the term structure of interest rates which have been proposed by Vasicek as well as Cox, Ingersoll, and Ross. the price is derived by means of repeated use of Green's function, which, in turn, is derived from a series solution of the partial differential equation to value a discount bond. the boundary conditions which lead to the well-known formulae for the price of a discount bond are also identified. the algorithm to implement the explicit solution relies on numerical quadrature involving Green's function. It offers both higher accuracy and higher speed of computation than finite difference methods, which suffer from numerical instabilites due to discontinuous boundary values. For suitably small time steps, the proposed algorithm can also be applied to American callable bonds or to any American-type option with Green's function being explicitly known.
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    DIFFUSION COEFFICIENT ESTIMATION AND ASSET PRICING WHEN RISK PREMIA AND SENSITIVITIES ARE TIME VARYING: A COMMENT (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: The purpose of this note is to analyze the diffusion coefficient estimator suggested by Chesney, Elliott, Madan, and Yang (1993). I start by correcting their formula (4.1), and by showing that their procedure is a member of a class of estimators sharing the same Milstein approximation. I then show how to select the minimum variance estimator (for constant μσ) within a two-parameter subclass of procedures which do not depend on the current realization of the process. I also show that if μ is small the best procedure only allows moderate reduction in variance with respect to the classical quadratic variation estimator (which is a member of the same class). the note concludes by highlighting the fact that the empirical use of the filtered volatilities poses an error in variables problem which can be addressed using instrumental variables methods.
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    SOLUTION OF THE EXTENDED CIR TERM STRUCTURE AND BOND OPTION VALUATION (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Mathematical finance 6 (1996), S. 0 
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    ISSN: 1467-9965
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics , Economics
    Notes: The extended Cox-Ingersoll-Ross (ECIR) models of interest rates allow for time-dependent parameters in the CIR square-root model. This article presents closed-form pathwise unique solutions of these unsolved stochastic differential equations (s.d.e.s) in terms of functionals of their driving Brownian motion and parameters. It is shown that quadratics in solution of linear s.d.e.s solve the ECIR model if and only if the dimension of the model is a positive integer and that this solution can be achieved by construction of a pathwise unique generalized Ornstein-Uhlenbeck process from the ECIR Brownian motion. For real valued dimensions an extension of the time-change theorem of Dubins and Schwarz (1965) is presented and applied to show that a lognormal process solves the model through a stochastic time change. Pathwise equivalence to a rescaled time-changed Bessel square process is also established. These novel results are applied to characterize zero-hitting time and to produce transition density and zero-hitting conditions for the ECIR spot rate. the CIR term structure is then extended to ECIR under no arbitrage, and its solutions and the transition density are represented under a new ECIR martingale measure. the findings are employed to derive a closed-form ECIR bond option valuation formula which generalizes that obtained by CIR (1985).
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    Editorial Foreword (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 10 (1996), S. 0 
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    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    Decomposing the Male/Female Wage Gap: Within and Between Establishment Differences (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Labour 10 (1996), S. 0 
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    ISSN: 1467-9914
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: : Using Norwegian data from interviews with about 3,500 employees in 759 establishments, the male-female wage differential is decomposed into its between and within establishment components. In the private sector, the gross wage differential of 23 percent is reduced to 13 by checking for human capital and job characteristics, and to 8 by (also) checking for industry and establishment affiliation. Only this within-establishment differential will be affected by equal pay and comparable worth legislation. In the public sector the gross wage gap between men and women is smaller (17 percent). The inter-establishment component is very small, probably due to centralized wage setting and standardized pay schemes. This has not, however, affected the within-establishment differential which is as large as in the private sector.
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    WEST GERMAN IDEAS ON EMPLOYMENT POLICY DURING THE FIRST YEARS OF THE ‘ECONOMIC MIRACLE’ (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 47 (1996), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Employment policies were a concern throughout history but not always in the sense of Keynes. German neoliberals (who had anticipated Keynesian ideas around 1930) emphasised the need for productive employment in the period of growth after the war. According to the vision of a social market economy, jobs should not be only temporary, but offer lasting employment, in industries with good development prospects, and in conditions conductive to good work.
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    MARKETS AND GAMES: A SIMPLE EQUIVALENCE AMONG THE CORE, EQUILIBRIUM AND LIMITED ARBITRAGE (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 47 (1996), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This note provides simple proofs of the equivalence among the core, equilibrium and limited arbitrage in markets with short sales, and with uniform strictly convex preferences.
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    CAPACITY UTILIZATION, INVESTMENT AND NORMAL PRICES: SOME ISSUES IN THE SRAFFA-KEYNES SYNTHESIS (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 47 (1996), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Drawing on recent debate over the theoretical significance of (Sraffian) normal prices this paper begins by outlining an interpretation of the relation between normal prices and administered pricing. This interpretation takes the anticipated average or normal rate of capacity utilization in each sector as data in the calculation of prices and profit rates. However, anticipated average utilization in each sector, in a cyclically disturbed system, will depend on relative prices and thus on distribution. This interdependence between prices, profit rates and utilization has an important bearing on certain issues arising out of attempts at a Sraffa-Keynes synthesis. The paper attempts to shed light on those issues by exploring further the links between pricing, utilization and investment, using a simplified three-sector model.
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    NEGATIVE LABOUR VALUES AND THE PRODUCTION POSSIBILITY FRONTIER (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 47 (1996), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Steedman's theoretical finding of negative labour values associated with positive equilibrium prices has been criticised on the grounds that this situation obtains only in inefficient economies. A recent paper by Hosoda claims that this criticism is valid only in two-dimensional joint-product systems. It is argued here that the dimensionality of the system is of no relevance to the “inefficiency critique” of Steedman. Rather, the validity of the critique turns on matters relating to the growth rate and the rate of profit. The argument that processes inefficient in a static context may be viable in the context of von Neumann growth is considered, and the implications for the labour theory of value are assessed. Marx's critique of capitalist economic calculation is supported by reference to the divergence of Sraffian prices and Samuelsonian values when the rate of profit is in excess of the rate of growth.
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    REINVESTED EARNINGS ON DIRECT FOREIGN INVESTMENT (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 47 (1996), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Reinvested earnings on direct foreign investment are accounted for differently in A System of National Accounts 1968 and the System of National Accounts 1993. In this paper these treatments are compared in relation to the connection between national income accounting and macroeconomic theory. For this purpose, macroeconomic modelling is represented by an attempt to extend the closed-economy Cambridge model of growth and distribution to a two-country trading world.
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    WAGE FLEXIBILITY AND THE STABILITY ARGUMENTS OF THE NEOCLASSICAL SYNTHESIS (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 47 (1996), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This note fills a lacuna in the neoclassical synthesis and completes its dynamic disequilibrium processes by including adjustments of the money wage rate in response to excess demand on the labour market. A Walrasian and a Keynesian variant are distinguished. While in the first case local asymptotic stability is always ensured, the equilibrium is unstable in the Keynesian case if money wages are too flexible relative to the adjustment speeds on the product and money markets.
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    MISUSE AND OPTIMUM INSPECTING STRATEGY IN AGENCY PROBLEMS (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 47 (1996), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Assets misuse by an agent and the optimal audit inspecting strategy are analyzed in this paper. The agent and the principal are acting to maximize their expected utility and both are characterized by risk aversion. The agent's decision about a theft takes into account the probability of benefiting from the stolen assets but also the probability of being penalized if caught. The principal's decision about the optimal number of audit teams, hence, the probability of uncovering the theft, takes into account the cost involved, the probability of one team of auditors uncovering the theft and the agent's decision about the theft. We get two response curves which describe the optimal behavior of both the agent and the principal and show that there may be a Nash solution to the problem. Since in real life there are often many principals (shareholders) with different utility functions, a set of efficient strategies is offered using the First and Second degree Stochastic Dominance rules. A numerical illustration which clarifies the methodology and displays the applicability of the model is also provided.
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    Person: Innovation Styles Profile of IS Personnel vs Other Occupations (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: W. C. Miller's Innovation Style Profile (ISP) instrument was used to collect data from IS personnel to compare the innovation styles of IS personnel with those in other occupations. Analysis of the results revealed significant differences. Knowledge of these differences should enable teams comprised of IS personnel and user personnel not only to better tolerate their differences but to better appreciate the value of multiple approaches to innovation.
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    Process: Implementation as a Form of Institutional Innovation (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper deals with two related studies of IT implementation. The action research component involved the setting up of ‘creativity club’ workshops to support implementation of IT projects in four organisations. The dynamics of these clubs are examined within an interpretive paradigm. The second component collected data on the wider implementation characteristics of the four projects and those of a ‘matched’ set of projects in four additional organisations. It is proposed that the studies support a reconceptualisation of implementation as a form of institutional innovation within which creativity can be regarded as a process of meaning creation and social learning.
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    Product: Measurement of Creativity of IS Products (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: While the literature on creativity/innovation in IS is sparse, the literature on measurement of creativity in IS products/services is non-existent. This paper provides a review of the literature on measurement of creativity, then concentrates on a discussion of the measurement of software products. Six software products are evaluated for their degree of creativity using a two-criterion approach: novelty and utility.
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    The Torrance Phenomenon: Extended Creative Search for Lord Vishvakarma (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    Thinking Creatively About Creativity: What Can We Learn From Recent Developments in the Philosophy of Science? (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Some time ago the Hungarian scholar Istvan Magyari-Beck (1994) published a challenging article in this journal indicating weaknesses in creativity research which sparked off responses from the American scholars Teresa Amabile (1994) and Scott Isaksen (1995). While Magyari-Beck applied familiar themes from the history of science, this article borrows extensively from the latest thinking in the philosophy of science, thus continuing the debate started by Magyari-Beck at the ontological and epistemological plane. The contribution of this article lies in the fact that it uncovers some basic assumptions researchers hold about the nature of the (social) world and ways they can obtain knowledge about that world. As such it challenges orthodox ideas about “good” research and theory building.
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    Editorial (1996)
    Oxford, UK : Blackwell Publishing Ltd
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    Creative Relationship-Focused Negotiations in International Business (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In the international business arena, negotiators are advised to use creative strategies and tactics that are directed toward enhancing relations among the parties rather than use cooperative tactics to the exclusion of competitive ones. International negotiations are usually of a mixed-motive nature, i.e. they involve issues which inherently and appropriately elicit both cooperative and competitive intentions and behaviours, often referred to as win-win and win-lose tactics. However, the popular literature on negotiation fails to consider this reality and often ignores the critical role of relationship building. Lack of focus on relationship building in negotiation can lead not only to inappropriate uses of problem solving techniques but also to unsuccessful outcomes. Various creative techniques appropriate for competitive situations are proposed that can enhance or, at least, maintain positive relationships.
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    Slovak Entrepreneurs — Pioneers (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Entrepreneurship, which after many years is emerging again in Slovakia, brings a new challenge to psychological research. In our study we have concentrated on revealing proentrepreneurial attitudes and characteristics and on identifying barriers which act against the application and utilization of these attitudes and characteristics. Two basic sources are the starting point of our approach: the psychology of creativity and the psychological characteristics of an entrepreneur. We have concentrated on social relationships in particular, to investigate the prevailing attitudes of the Slovak sample.
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    Technology Rules O.K.? A Review of Technological Determinism and Contingency Theory (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: How much freedom is there for a firm to choose its technology without being misled by economic forces? This article reviews the competing theories of technological determinism and contingency approaches. The author argues that, however unappealing to managers, the case against technological determinism remains non-proven. There remains considerable scope to explore this thought provoking area of research.
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    Neural Nets: An Evaluation and a Spreadsheet Implementation (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
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    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Attitudes to neural nets range from suspicion to uncritical admiration. This paper aims to introduce nets and to evaluate their strengths and weaknesses. The language is non-technical, but the conceptual treatment is intended to be rigorous. A practical method for implementing a neural net on a spreadsheet is described, and sample results illustrated.
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    Book Reviews (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Lynn B. Upshaw, (1995), Building Brand Identity, A Strategy for Success in a Hostile MarketplaceManu de Bruyn & Roger de Bruyn, (1995), Creativiteit, Alfa-Omega, Visie-Vorm
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00244.x
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  • 88
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    Harnessing the Power of Strategic Innovation (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00130.x
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  • 89
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    Book of the Quarter (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00134.x
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  • 90
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    Letter to the Editor (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00135.x
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  • 91
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    The Search for and Selection of a New Product (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00236.x
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  • 92
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    Editorial: Purposive Thinking (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Creativity and innovation management 5 (1996), S. 0 
    Details
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8691.1996.tb00137.x
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  • 93
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    Tariff Reductions in the Presence of Foreign Direct Investment (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper argues that the welfare effects of trade liberalization in the presence of foreign direct investment obtained under perfect competition cannot be extended to imperfectly competitive markets. In the Heckscher-Ohlin model, trade liberalization may be paradoxically immiserizing when the traditional welfare-increasing result is corrected for the change in foreign capital revenue. Under imperfect competition this cannot occur, except under rather implausible assumptions. Indeed, a tariff reduction is expected to increase welfare when the welfare indicator is corrected for the presence of foreign capital, regardless of the type of market structure and the form of competitive rivalry.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00102.x
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  • 94
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    Cross-Hedging of Exchange-Rate Risk (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: For currencies with highly developed forward markets a well-known separation theorem holds which implies that international firms fully hedge the exchange rate risk if the forward markets are unbiased. In this paper we present a model of a risk-averse firm when perfect hedging instruments are not available. Instead the firm can cross-hedge the exchange-rate risk by using the forward markets of a third country's currency. We demonstrate that the unbiasedness of all forward markets does not imply full hedge, although the firm has the option to hedge all the risks.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00104.x
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  • 95
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    Endogenous Growth in a Dependent Economy with Traded and Nontraded Capital (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The equilibrium growth path for this economy depends upon the relative sectoral capital intensities of the two production functions. If the nontruded sector is relatively intensive in traded capital, both the relative price of nontraded output and the price of installed capital always remain at their respective steady-state levels. Traded capital and aggregate wealth are always on their respective steady-state growth paths. Nontraded capital undergoes transitional dynamics, ultimately converging to the growth rate of traded capital and an equilibrium ratio of traded to nontraded capital. If the sectoral intensities are reversed, both asset prices will follow transitional adjustment paths.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00106.x
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  • 96
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    Exchange Rate Changes and Pricing Behavior of US Exporters (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper studies export pricing behavior following exchange rate changes in US manufacturing industries. Through a monopolistic model, the paper predicts that export prices should change, but less than proportionally, in response to exchange rate changes if either or both demand elasticity and marginal cost are variable. Cross-industry variation of such price changes can be explained by the difference in demand elasticities between the domestic and the export markets, the elasticity of marginal cost with respect to output. and the export share. These predictions are supported by the empirical findings of the paper.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00108.x
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  • 97
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    Do Three Trade Blocs Minimize World Welfare? (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Two interesting results have emerged from research on symmetric models that make the analysis of bilateralism tractable. Krugman reported that three trade blocs minimize world welfare. Frankel, Stein, and Wei argued that the formation of continental trading blocs can reduce welfare. This paper shows that these results are not robust. In particular, it is argued that the inclusion of more realistic assumptions into a symmetric model changes the picture considerably. Specifically, if one allows for transportation costs, conventional results are obtained. The phenomenon of three welfare-minimizing blocs and “super-natural” blocs disappears.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00109.x
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  • 98
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    Book Reviews (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Economic Integration in the Western Hemisphere by Roberto Bouzas and Jaime Ros (eds.)Western Hemisphere Economic Integration. by Gary C. Hufbauer and Jeffrey J. Schott
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00113.x
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  • 99
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    Latin America's Economy: Diversity, Trends, and Conflicts (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00116.x
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  • 100
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    Sustainable Development and International Distribution: Theory and Application to Rainforests (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A situation is analyzed in which two countries negotiate the financing of costs that accrue if one of them switches onto a sustainable development path. The other country's incentive to pay arises as it benefits from the developing country's environmental resources, but at an ever declining rate as long as development remains nonsustainable. In an application to the protection of tropical rainforests it is shown that North to South redistribution of welfare would be substantial, yet the North would still gain enormously in efficiency terms. An explanation is given of why the Rio Conference failed in terms of rainforest protection.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00093.x
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