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  • Articles  (568,130)
  • 1995-1999  (568,130)
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  • 1
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. This is a detailed introduction to auction theory. It begins with a simple analysis of standard auctions and then uses a strikingly simple general solution of symmetric private values auctions to prove the payoff equivalence of many auction rules. The basic framework is then modified to admit risk aversion, multi-unit and repeated auctions as well as collusion. Then follows an introduction to optimal auctions, with and without stochastic entry, and to common value auctions and the winner's curse problem. The survey closes with a sample of applications, from the regulation of natural monopolies to price competition in oligopoly and the government securities market.
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  • 2
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. A large number of different Pseudo-R2 measures for some common limited dependent variable models are surveyed. Measures include those based solely on the maximized likelihoods with and without the restriction that slope coefficients are zero, those which require further calculations based on parameter estimates of the coefficients and variances and those that are based solely on whether the qualitative predictions of the model are correct or not. The theme of the survey is that while there is no obvious criterion for choosing which Pseudo-R2 to use, if the estimation is in the context of an underlying latent dependent variable model, a case can be made for basing the choice on the strength of the numerical relationship to the OLS-R2 in the latent dependent variable. As such an OLS-R2 can be known in a Monte Carlo simulation, we summarize Monte Carlo results for some important latent dependent variable models (binary probit, ordinal probit and Tobit) and find that a Pseudo-R2 measure due to McKelvey and Zavoina scores consistently well under our criterion. We also very briefly discuss Pseudo-R2 measures for count data, for duration models and for prediction-realization tables.
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  • 3
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. This reply takes up specific points raised by Professor Kolm over which there persists some disagreement between us. It offers a rather broad, philosophically oriented discussion of the issues. I explain why I think Kolm is right in preferring the term ‘equity’to that of ‘envy-freeness,’but I express moral doubts concerning the interpretation proposed by Kolm of equity as a criterion of equal liberty. On this basis, I then defend my own specific interpretation of equity as a welfarist-egalitarian criterion, and express some reluctance as to the alleged ‘moral irrelevance’of individual preferences in the theory of equity. I also briefly discuss the conceptual role played by counterfactuals and try to mitigate somewhat Kolm's critique of the use of axioms involving ‘imaginary’ situations.
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  • 4
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. This paper presents a critical survey of theories of migration, their welfare and policy implications and their empirical relevance. We also develop some extensions to the theory beginning with the Harris and Todaro (HT) model. In particular, the HT model is extended to examine risk averse behaviour within families where the migration of members of families serves to diversify risk. The welfare implications of the individual migration decision and government intervention in the form of employment subsidies are examined. Recent evidence on international migration is presented. It is shown that migration does not flow automatically in response to wage differentials. Characteristics of migrants and the process of self-selection are found to be important determinants of the rate of migration.
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  • 5
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. The principle that ‘no individual prefers another's allocation to his own’is central in the analysis of Economic Justice mainly because of its identity with the basic case of equality of liberty, rather than for its indirect relation with the sentiment of envy. The various reproaches which have been addressed to this principle, gathered by Arnsperger, either are misconceived, or have been answered by rational (justified) extensions or specifications of the principle.
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  • 6
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 7
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 8
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. We survey recent theoretical research on the effects of short-term share-price based managerial incentive schemes. Such schemes can induce inefficient managerial behaviour in both hidden action and hidden type contexts. These problems arise from informational asymmetries: managers take actions to manipulate the information flow rather than to maximize firm value. More generally, imperfect transmission of information between managers and shareholders or between managers of different firms can lead to similar distortions even when the parties' interests are aligned.
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  • 9
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 10 (1996), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract. Worker absenteeism constitutes a significant loss of work-time and therefore has important implications for both household income and firm productivity. Despite this, the economics profession has been somewhat laggard relative to other disciplines in addressing the phenomenon. The situation is, however, changing, with recent years witnessing a mild flurry of activity. The aim of this paper is to maintain, and if possible, enhance this momentum. We do this firstly by developing some basic theoretical ideas which we consider to be central to an economic analysis of absence. In particular, we address the often cited claim that observed absence is unequivocally inefficient. Second, by reviewing some of the key contributions, we attempt to assess where the literature on the economics of absence stands at present, as well as suggesting some potentially fruitful lines of future enquiry.
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  • 10
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA, USA : Blackwell Publishers Ltd
    Journal of economic surveys 13 (1999), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The provision of liquid funds via a lender-of-last-resort facility has been the chief means by which governments have chosen to prevent or stay bank runs. The introduction of such a facility, however, leads to a moral hazard problem which weakens each financial manager’s commitment to sound banking, and hence may ultimately make the few bank runs which do occur more dramatic in both size and seriousness. In this paper I provide a survey of the various policy measures which have been proposed to mitigate the effects of the moral hazard problem arising from the introduction of a lender-of-last-resort facility.
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  • 11
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 13 (1999), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 12
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 13 (1999), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 13
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 13 (1999), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 14
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 13 (1999), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper addresses the problems of defining and measuring government subsidies, examines why and how government subsidies are used as a fiscal policy tool, discusses their general economic effects in terms of real welfare costs and distributional implications, appraises international empirical evidence on government subsidies, and offers options for their reform. Recent international trends in government subsidy expenditure are analyzed for the 16-year period from 1975 to 1990, using general government subsidy data for 60 countries from the United Nations’ System of National Accounts (SNA). The paper reviews major policy options for subsidy reform, focusing on ways to improve the cost-effectiveness of subsidy programs.
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  • 15
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, MA 02148, USA : Blackwell Publishers Ltd
    Journal of economic surveys 13 (1999), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Alberto Alesina and Nouriel Roubini with Gerald D. Cohen, Political Cycles and the MacroeconomyAvinash K. Dixit, The Making of Economic Policy: A Transaction-Cost Politics Perspective.Gordon Pepper, Inside Thatcher’s Monetarist Revolution
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  • 16
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 13 (1999), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Despite the best efforts of economists, a basic paradox as to the impact of exchange rate volatility on trade flows remains unresolved at both the theoretical and empirical level. This paper surveys the vast literature in the area in an attempt to identify major issues which have contributed to the development of the debate and examine whether any general direction for consensus may be found.
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  • 17
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 12 (1998), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 18
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 12 (1998), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper provides a selective survey of the recent literature dealing with I(2) variables in economic time series, that is, processes that require to be differenced twice in order to become stationary. With reference to particular economic models intuition is provided of why I(2)-and polynomial cointegration are features likely to occur in economics. The properties of I(2) series are discussed and I review topics such as: Testing for double unit roots, representations of I(2) cointegrated systems, and hypothesis testing in single equations as well as in systems of equations. Different data sets are used to illustrate the various econometric and statistical techniques.
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  • 19
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 12 (1998), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper reviews various recent approaches to cointegration analysis of seasonal time series. In addition to the usual decisions concerning data transformations and univariate time series properties, it is necessary to decide how seasonal variation is included in the multivariate model and how standard cointegration methods should accordingly be modified. Seasonal cointegration and periodic cointegration methods are discussed, as are some of their recent refinements. An overview of further research topics is also provided.
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  • 20
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 12 (1998), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper suggests that there is a tension between the basic tenant of New Institutional Economics (NIE) and the manner in which it has been applied in the debate on post-socialist transformation. This tension is explored in the context of four main perspectives on NIE: (i) property rights, (ii) transaction costs economics, (iii) new economic history, and (iv) evolutionary economics. There are two main arguments. The first is that the transformation phase should be seen as ‘open-ended’ rather than a ‘closed process’ where the ‘pure market’ is the inevitable end result. The second is that, although the NIE literature touches on most of the issues which are relevant to post-socialist transformation, the insights that it offers are still too general for policy guidance.
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  • 21
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 12 (1998), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper presents the results of an evaluation of the WinEcon computer-based learning (CBL) software released into the academic community in September 1995. The focus of the paper is the impact of continued and directed WinEcon use on students’ learning as measured by their examination results. The subjects of the study were the 240 Leicester University students enrolled on the 1995/96 introductory microeconomics course who were categorised by their use of WinEcon. Using traditional regression and decomposition techniques, we show that directed use of WinEcon can enhance exam performance by a small but significant proportion, enough to improve the pass rate of the overall course.
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  • 22
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 12 (1998), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 23
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 12 (1998), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Since many policies affect specific parts of economies differently, it is useful to decompose GDP per capita differences across countries into differences across smaller and smaller parts of economies. In this paper, we summarize recent contributions in this area and fit them together into a decomposition procedure for GDP per capita differences. The overall finding is that the U.S. is the productivity leader for the most of the economy. Moreover, international productivity differences at the aggregate level of the economies are in most cases translated into differences in the productivity of industries, at least compared to the productivity leader U.S. The variability of productivity differences at the industry level is, however, substantially higher than any differences at the aggregate or sector level. For the manufacturing sector alone the U.S. and Japan share the leadership on the industry level. In contrast, France, U.K., and Germany exhibit almost no leadership in productivity at the industry level. Hence, nation-specific factors appear to be dominant in the comparison of European countries with the U.S. Finally, mix differences do not play a very large role for big countries. For Germany, however, the mix effect can help to reconcile relative high productivity for the market economy and lower productivity at disaggregated levels.
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  • 24
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 11 (1997), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 25
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 11 (1997), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines research on public debt management, focusing on debt structure by denomination, indexation features, and maturity. The optimal taxation approach is reviewed and its policy implications are related to the trade-off between minimization of the expected cost of debt servicing and minimization of budgetary risk. Strong arguments are provided for debt instruments which yield low returns when output and hence revenues are lower and public spending higher than expected. This debt design minimizes tax distortions and provides flexibility in conducting fiscal policy. The exact characterization of the debt composition which supports efficient taxation depends on the stochastic structure of the economy. Long-term nominal debt is a hedge against supply shocks affecting revenues and inflation and makes the government budget insensitive to interest-rate risk. However, at high levels of debt, the extent of insurance or flexibility that governments can obtain by issuing long-term nominal debt is limited by the need to maintain the credibility of the anti-inflation stance.
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  • 26
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 11 (1997), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper we examine the multinomial probit model in the light of recent developments in the field of simulation-based inference. We focus upon five broad areas: specification of multinomial choice models; parameter estimability and the use of simulation techniques, parameter identification; specification testing; and practical issues in simulation-based inference. Although the substitution of simulated probabilities for difficult to compute multidimensional integrals represents a significant step, by examining the more tenuous task of identification and in particular the identification of covariance parameters, we show how the specification and estimation of the multinomial probit still represents a formidable task.
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  • 27
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of economic surveys 11 (1997), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The recent boom in cross-country growth analysis has renewed the empirical interest in political sources of economic growth. A large number of studies have tested political variables in growth regressions and a very heterogenous set of variables has been proposed to measure economically relevant differences in the political systems of countries. This paper distinguishes five categories of relevant political variables: democracy, government stability, political violence, policy volatility, and subjective perception of politics. For each of these categories, the specification, testing method, and results of the most relevant studies are presented and are critically discussed. The paper concludes that measures of democracy are least successful and measures of policy volatility and subjective perception of politics most successful as explanatory variables in cross-country growth regressions.
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  • 28
    Electronic Resource
    Electronic Resource
    Oxford, UK and Cambridge, USA : Blackwell Publishers Ltd
    Journal of economic surveys 11 (1997), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The choice of an appropriate paradigm to consider banks’ motivation to enter a new market and their subsequent performance is an important issue in multinational banking. This paper discusses this issue within the context of two competing theories of the multinational enterprise and the special theories of banking as applied to the multinational enterprise. The conclusion of this paper is that while it may not be possible to empirically distinguish between the propositions of Eclectic theory and Internalisation theory, Internalisation theory offers a framework with greater internal consistency for the study of the multinational bank. Further, any empirical studies must be conducted within the framework of the appropriate special theories consistent with internalisation theory. These special theories have developed over time in an unstructured fashion, and the application of internalisation theory provides a cohesive framework within which to analyse these theories.
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  • 29
    Electronic Resource
    Electronic Resource
    Oxford, UK and Cambridge, USA : Blackwell Publishers Ltd
    Journal of economic surveys 11 (1997), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Agricultural crop production is highly dependent upon environmental conditions among which air quality plays a central role. Various air pollutants have been identified as a potential influence on commercial crops including SO2, NOx, O3 and CO2. In particular, ozone in the lower atmosphere has been identified as a serious cause of crop loss in the United States and seems likely to be creating similar losses in Europe. In this paper the methods which can be applied to assess the economic damages from air pollution are critically reviewed. This requires measuring pollutant concentrations, relating these to physical crop damages, and estimating the reactions of the agricultural sector and consumers to give welfare changes in terms of consumers’ surplus and producers’ quasi-rents. The approach of the European open-top chamber programme (EOTCP) is shown to have neglected lessons learnt by the National Crop Loss Assessment Network (NCLAN) in the US
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  • 30
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 51 (1998), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
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  • 31
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 51 (1998), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
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  • 32
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 51 (1998), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
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  • 33
    Electronic Resource
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 50 (1997), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: This paper shows two points: (1) there is a statistically significant positive relationship between the real value of the agricultural minimum wage and the level of agricultural output in Morocco, for eight important crops; (ii) the latter may be explained using a theoretical model where the productivity of the laborers depends on their consumption level, and where wage incomes are shared among family members to fund consumption. The Nash equilibrium is then inefficient.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSUNGDieser Artikel zeigt zweierlei: a) Für acht Feldfnichte existiert eine statistisch sigrufikante Beziehung zwischen realem Mindestlohn und Produktionsniveau in der marokkanischen Landwirtschaft; b) Diese Beziehung lasst sich mit einem theoretischen Modell erklären. Darin hangt die Produktivitat der Arbeiter von ihrem Lebensstandard ab. Zur Konsumfinanzierung werden die Lohneinkunfte zwischen den Mitgliedern der Familie aufgeteilt. Das Nash-Gleichgeèicht ist somit ineffizient.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉCet article montre deux choses: (a) il y a une relation statistiquement significative entre la valeur réelle du salaire minimum agricole et le niveau de la production agricole au Maroc, pour huit cultures importantes; (b) celle-ci peut s'expliquer au moyen d'un modèle théorique où la productivité des travailleurs dépend de leur niveau de consommation, et où les revenus salariaux sont partagés entre les membres de la famille pour financer la consommation. L'équilibre de Nash est alors inefficient.
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  • 34
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: This paper reports the results of a comparison of employment adjustment in Japan, the United States and four major EC countries. Output and real wages are used in explaining the optimal employment level and change in employment. Short- and long run responses to alterations of the exogenous variables are estimated and compared. Surprisingly, Germany has a quite rapid adjustment of labor while France and Italy show a much slower adjustment pattern. Even in comparison with the United States. Great Britain demonstrates the fastest adjustment to changes in the economic environment. By far the slowest adjustment pattern is realized in Japan. Overall the difference between the US and Europe seems not to be too large and European labor markets are not as sclerotic as occasionally assumed.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASUNGDieser Artikel gibt die Ergebnisse eines Vergleichs der Beschäftigungsanpassung in Japan, den Vereinigten Staaten und den vier wichtigsten EU-Landern wieder. Das Produktionsniveau und der Reallohn sind die erklarenden Variablen für das optimale Beschaftigungsniveau wie auch Veranderungen der Beschäftigung. Es werden kurz- und langfnstige Beziehungen zwischen den exogenen und der endogenen Vanablen geschatzt und verglichen Uberraschenderweise hat Deutschland eine relativ rasche Beschaftigungsanpassung, während Frankreich und Italien eine viel langsamere Anpassung aufweisen. Großbntannien hat auch im Vergleich zu den USA die schnellste Reaktion auf Veränderungen der ökonomischen Umwelt. Das bei weitem inflexibelste Anpassungsverhalten wird für Japan registriert. Zusammenfassend scheinen die Unterschiede zwischen den Vereinigten Staaten und Europa nicht so groß und der europaische Arbeitsmarkt nicht so sklerotisch zu sein wie erwartet.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉCet article présente les résultats d'une comparaison de la vitesse d'adaptation de l'emploi au Japon, aux Etats-Unis et dans les quatre pays les plus importants de l'UE. Le niveau de l'emploi optimal ***ainsi que les variations de l'emploi sont expliquées par le niveau de production et les salaires réels. Les variations à court et long terme des changements des variables exogènes ont été estimés et comparés. Étonnamment, l'Allemagne a une vitesse d'adaptation de l'emploi relativement rapide par rapport à celles de la France et de l'Italie. L'Angleterre montre měme, en comparaison avec les Etats-Unis, une plus grande flexibilité envers les modifications de l'environnement économique. L'adaptation la plus lente est observée au Japon. Pour conclure les différences concernant la vitesse d'adaptation de l'emploi entre les Etats-Unis et l'Europe ne semblent pas si grandes et les marchés de travail européens sont moins sclérosés que ce que l'on attendait.
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  • 35
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    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 50 (1997), S. 0 
    ISSN: 1467-6435
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    Notes: Tax evasion has been mainly studied as a problem of choice under uncertainty; like any portfolio manager, the taxpayer has to allocate her/his fixed gross income between two assets a risky asset, tax evasion, and a safe asset (with a zero return), tax payment. As suggested by the portfolio theory, the taxpayer's choice will be affected by her/his preferences — mainly by her/his attitude towards risk-taking — and by the return on the risky asset determined by the tax structure, which includes both the tax rate and the penalties in the case of evasion However, the pure gamble model appears unsatisfactory on various grounds. Among these and most importantly for our purpose, it neglects the psychological aspects of the decision to evade tax because it rules out any feeling of shame about evading or being detected and punished, and it ignores any intrinsic pleasure from successful evasion In other words, the pure gamble model does not take full account of the moral constraints involved in the tax evasion decision. The main objective of the experiment presented here was therefore to investigate the role played by moral constraints in determining the decision to evade taxes. The experimental evidence supports the thesis that the taxpayer's decisional process involves not only monetary elements but also psychological and moral factors.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSUNGDie Steuerhinterziehung wurde bisher überwiegend als Problem von Entscheidungen unter Unsicherheit untersucht Wie jeder Portfoliomanager muss auch der Steuerzahler sein Bruttoeinkommen zwischen zwei Anlageformen verteilen eine risikoreiche Anlageform. Steuerhinterziehung, und eine sichere Anlageform (ohne Gewinn), Steuerzahlung. Nach der Portfoliotheorie wird die Entscheidung des Steuerzahlers von seinen Praferenzen beeinflusst — vor allem von seiner Risiko-bereitschaft — und von der Gewinnaussicht der risikoreichen Anlageform, die vom Steuersystem abhangt, d.h. vom Steuersatz und den Strafen bei Steuerhinterziehung. Dieses Lotteriemodell ist jedoch aus mehreren Grunden unbefriedigend: es vernachlässigt die psycholgischen Aspekte der Steuerhinterziehung, weil es jegliches Schamgefühl bei der Steuerhinterziehung bzw. der Entdeckung und Bestrafung ausschliesst und ein intrinsisches Vergnugen bei erfolgreicher Steuerhinterziehung ignoriert. Das Lotteriemodell zieht also nicht in Betracht, dass moralische Restriktionen die Entscheidung zur Steuerhinterziehung beeinflussen konnten Das hier vorgestellte Experiment wollte daher in erster Linie untersuchen, welche Rolle moralische Restriktionen bei der Entscheidung zur Steuerhinterziehung spielen. Die Ergebnisse des Experiments bestatigen die Hypothese, dass der Entscheidungsprozess des Steuerzahlers nicht nur durch monetare Elemente beeinflusst wird, sondern auch durch psychologische und moralische Faktoren.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉL'évasion fiscale a été principalement étudiée en tant qu'un problème de choix dans des conditions d'incertitude, comme n'importe quel gestionnaire de portfolio, le contribuable doit répartir son revenu brut fixe entre deux actifs un actif risqué, l'évasion fiscale, et un actif sǔr (avec un taux d'intérét zéro), le payement des taxes. Comme suggéré par la théorie du portfolio, le choix du contribuable sera affecté par ses préférences — principalement par son attitude vis-à-vis du risque — et par le bénéfice déterminé par la structure fiscale qui inclut à la fois le taux de taxation et les pénalités prévues en cas d'évasion Cependant, le modèle pur de jeu apparait insatisfaisant pour plusieurs rasisons Parmi celles-ci, le modèle néglige les aspects psychologiques de la décision, limitation spécialement importante pour notre objectif, puisqu'il écarte tout sentiment de honte associé à la découverte de l'évasion et à la punition ou encore il ignore le plaisir découlant d'une évasion fiscale réussie. En résumé, le modèle pur de jeu ne prend pas pleinement en compte les contraintes morales qui influencent la décision. L'objectif principal de l'expérimentation présentée ici était d'analyser le rǒle joué par les contraintes morales dans la prise de décision d'évasion fiscale. Les résultats confirment l'hypothèse que le processus décisionel du contribuable dépend non seulement des aspects financiers mais également des facteurs psychologiques et moraux.
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    Notes: The paper results from interviews held among economists from Central and Eastern Europe. It tries to get an inside view on the profession under communist rule. As expected, the results depend upon period and country under analysis. Poland and Hungary did not lose contact with Western developments, while the Soviet Union and the GDR and also Czechoslovakia after 1968 isolated themselves completely. In Russia there was an own development in the sphere of optimal planning theory. In the GDR strict political control and adherence to dogmatism led to sterility. Reform thinking became stronger in the 1980s, with the exception of the GDR and Russia. The results are corroborated by the personal situation of the individual economist. Asked where they see the lasting contribution of economics under communism, most respondents are rather pessimistic: it is more the abortive practice of Soviet-type central planning which taught a lesson than the theoretical developments of the period.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSUNGDie Studie ist das Ergebnis von Interviews, die unter Wirtschaftswissenschaftlern aus Mittel- und Osteuropa gehalten wurden. Sie sucht einen Blick von innen auf die Entwicklung einer Wissenschaft unter kommunistischer Herrschaft zu gewinnen. Das Resultat hängt von der jeweiligen Periode und dem jeweiligen Land ab. Polen und Ungarn haben den Kontakt zum Westen nicht verloren. Russland und die DDR, ebenso die CSSR nach 1968, haben sich dagegen vollständig isoliert. Russland kannte eine eigene Entwicklung in der Planungstheorie. In der DDR führten dagegen politische Kontrolle und Dogmatismus zur Sterilität. Mit Ausnahme dieserbeiden Länder wuchs das Reformdenken in den 80er Jahren stetig an. Die Ergebnisse spiegeln sich auch in der persönlichen Situation der einzelnen Wissenschaftler wider. Nach dem bleibenden Beitrag der Ökonomie unter dem Kommunismus befragt, zeigen sich die Antworten eher pessimistisch: nicht die theoretischen Errungenschaften der Periode sind lehrreich, vielmehr aber das abschreckende Beispiel des sowjetischen Zentralplansystems.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉL' article rend compte des résultats d'interviews réalisés auprès d'économistes des pays de l'Europe Centrale et Orientale. II présente une vision de l'intérieur sur le développement de la science économique sous le régime communiste. Les résultats dépendent de la période et du pays analyses. La Pologne et la Hongrie n'ont jamais perdu le contact avec la science économique occidentale, tandis que la Russie, l'Allemagne de l'Est et, après 1968, la Tchécoslovaquie s'en sont isolés complètement. Avec la théorie de la planification optimale, la Russie a connu son propre développement. En RDA, le contrǒle politique et le dogmatisme ont abouti à une stérilité théorique. À l'éxception de ces deux derniers pays, la pensée réformiste s'est renforcée continument au cours des années 80. Ces résultats se reflètent aussi dans la situation personnelle faite aux économistes. Quant a la contribution durable de la science économique sous le communisme, les réponses sont peu optimistes: ce ne sont pas tellement les développements théoriques qui survivront à la periode soviétique, mais plutöt (‘experience avortée de la planification centrale de type soviétique.
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    Notes: The author, born in 1946, is professor of economics at the University of California, Santa Barbara. He has been a visiting professor at Harvard University and at the University of Chicago and an economist in the U.S. government. He has served as a consultant or expert witness for governmental agencies and private parties, and has given lectures at numerous conferences and institutions in North America and in Europe.
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    Notes: The author, born in Switzerland in 1919, having acquired his doctorate in Zurich and taught economics at the University of Zurich, the Johns Hopkins University, and the University of Berne (Switzerland). He is now professor emeritus, University of Berne, and adjunct professor, University of California. After his retirement he lectured at the University of California, Santa Cruz, in Perth (Australia) and at the University of Munich.
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    Notes: The author, born in 1938, is professor of economics at the Université de Bourgogne (France). He graduated in law at the University of Paris and in public administration at the Institut d'Etudes Politiques de Paris. He then turned to economics at the universities of Rennes and Paris. He was professor of economics at the European University Institute at Florence (Italy) and spent two years as counsellor for social sciences in the department for scientific research of the French government.
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    Notes: The author, born in Germany in 1949, is professor of economics at the University of Linz (Austria). He received his education at the universities of Konstanz (Germany) and Zurich (Switzerland) in Europe, and at the University of Yale and at the Center for Study of Public Choice, Blacksburg, Virginia in the U.S. Before his current position he was visiting professor at the University of Stockholm, Carnegie-Mellon University, Aarhus University (Denmark), and La Trobe University, Melbourne.
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    Notes: Review of the more widely discussed saving theories suggests that they are unable to account for the observed positive impact of a country's rate of economic growth on its saving ratio. In particular, the compositional explanation offered by the Life Cycle theory would appear to be based on debatable premises. A more promising explanation is found in the examination of the saving behavior of individual households and the respective motives: their saving ratio tends to vary positively with the percentage change in their income. The importance of the distribution of such changes among the economic agents is obvious. A number of implications for economic growth are discussed, including the roles of direct taxation, the export and agricultural sectors and, especially, domestic and foreign capital.〈section xml:id="abs1-2"〉〈title type="main"〉ZusammenfassungEine Überprüfung der wesentlichen Theorien des Sparens deutet darauf hin, dass sie nicht in der Lage sind, die beobachtete positive Wirkung der Wachstumsrate eines Landes auf die Sparquote zu erklären. Insbesondere die Erklärung der Lebenszyklustheorie scheint auf fraglichen Voraussetzungen aufzubauen. Eine vielversprechendere Erklärung liefert die Untersuchung des Sparverhaltens individueller Haushalte und ihrer jeweiligen Sparmotive: ihre Sparquote variiert positiv mit prozentualen Einkommensveränderungen. Die Bedeutung der Verteilung solcher Veränderungen unter den ökonomischen Agenten ist offensichtlich. Einige Konsequenzen für das Wirtschaftswachstum werden diskutiert, unter anderem die Rolle, die direkte Besteuerung, Export- und Landwirtschaftssektor, sowie in- und ausländisches Kapital spielen.〈section xml:id="abs1-3"〉〈title type="main"〉RésuméUne revue des théories principales de l'épargne nous amène à conclure qu'elles ne peuvent pas expliquer l'effet positif observé du taux d'accroissement d'une économie sur le rapport entre l'épargne et le revenue. En particulier, l'explication compositionelle proposée par la théorie du Cycle de Vie semble être basée sur des prémisses contestables. Une explication plus promettante se révèle en examinant le comportement des families individuelles quant à l'épargne et les motifs correspondants: le rapport entre l'épargne et le revenu tend à changer positivement avec la variation du taux de changement du revenu. L'importance de la distribution de tels taux parmi les agents économiques est évidente. Quelques implications intéressantes à l'égard de la croissance économique sont discutées, y compris les rôles de l'impôt direct, des secteurs exportateurs et agricoles et, en particulier, des capitaux nationaux et étrangers.
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    Notes: The 1990s have seen several big currency crises. Some observers argue that the crises show ‘fixed’ exchange rates are unsustainable. Dozens of countries have sustained such exchange rates for years or decades, though. Differences between pegged and fixed exchange rates explain why some exchange rates have lasted while others have succumbed to speculative attacks.〈section xml:id="abs1-2"〉〈title type="main"〉ZusammenfassungDie neunziger Jahre haben mehrcre grosse Währungskrisen erlebt. Einige Beobachter behaupten, solche Krisen zeigen, dass feste Wechselkurse nicht haltbar seien. Dennnoch hat eine Reihe anderer Lander solche Wechselkurse jahre- oder jahrzehntelang aufrechterhalten. Unterschiede zwischen einem Wechselkurs, der in Bandbreiten schwanken darf (‘pegged’) und einem absolut festen Wechsclkurs erklären, warum sich einige Wechselkurse durchgesetzt haben, wührend andere spekulativen Angriffen zum Opfer gefallen sind.〈section xml:id="abs1-3"〉〈title type="main"〉RésuméLes années 1990 ont connu plusieurs crises monétaires importantes. Quelques observateurs affirment que ces crises démontrent que les taux de change ‘fixes’ sont indéfendables. Pourtant, des douzaines de pays ont soutenu des tels taux de change pendant des décennies, même des siècles. Cela s'explique par la différence entre les taux de change vraiment fixes et les taux de change fixes mais ajustables (‘pegged’).
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    Notes: Aulin, Asvid (1997). The Origins of Economic Growth. Berlin/Heidelberg/New York.Bretschger, Lucas (1996). Wachstumstheorie. München/Wien: Oldenbourg.Canzoneri, Matthew B., Wilfred J. Ethier and Vittorio Grilli (eds.) (1996). The New Transatlantic Economy. Cambridge/New York/Melbourne: Cambridge University Press.Costanza, Robert, John Cumberland, Herman Daly, Robert Goodland and Richard Norgaard (1997). An Introduction to Ecological Economics. Boca Raton, USA: St. Lucie Press.Dragun, Andrew K. and Kristin M. Jakobson (eds.) (1997). Sustainability and Global Environmental Policy. New Perspectives. Cheltenham, UK/Lyme, USA: Edward Elgar.Francois. Joseph F. and Kenneth A. Reinert (eds.) (1997). Applied Methods for Trade Policy Analysis. A Handbook. Cambridge: Cambridge University Press.Kolb, Gerhard (1997). Geschiclite der Volkswirtschaftslehre. Dogmenhistorische Positionen des ökonomischen Denkens. München: Vahlen.Komlos, John and Scott Eddie (eds.) (1997). Selected Cliometric Studies on German Economic History. Stuttgart: Franz Steiner Verlag.Meyer-Abich. Klaus Michael (1997). Praktische Naturphilosophie. Erinnerung an einen vergessenen Traum.Mizen, Paul and Eric J. Pentecost (eds.) (1996). The Macroeconomics of International Currencies. Theory, Policy and Evidence.Pies, Ingo und Martin Leschke (Hrsg.) (1997). Mancur Olsoizs Logik kollektiven Handelns. Tübingen: J.C.B. Mohr (Paul Siebeck).Weimer, David L. (ed.) (1997). The Political Economy of Property Rights. Institutional Change and Credibility in the Reform of Centrally Planned Economies. Cambridge/New York/Melbourne: Cambridge University Press.Wendner, Ronald (1997). C02-Reduktionspolitik und Pensionssicherung. Hintergründe, Modellinerung und Simulationen. Heidelberg: Physica.Williamson, Jeffrey G. (1997). Industrialization, Inequality and Economic Growth. Cheltenham, UK/Brookfield, USA: Edward Elgar.
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    Notes: Increasingly, commentators have argued that provision of welfare services is better left to the private sector, In the UK, the ‘Thatcher years’ were associated with a philosophy that greater decision making should be left to individuals and that, if state provision of welfare were ‘rolled back’, the voluntary charitable sector would become more active in meeting the needs of the disadvantaged. While ‘standard’ economic theory suggests that cutting public expenditure ‘crowds in’ private giving and that tax inducements to donate to charities can prove effective, there are reasons to dispute the proposition that such a mix of fiscal policy will cause individuals to behave more altruistically. An appraisal of public policy changes, which includes the impact of policy changes on individuals' preferences, calls in question the assertion that private charitable giving will provide an adequate substitute for public expenditure. The same analytical framework proves effective in predicting a range of policy outcomes.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSUNGIn zunehmendem Masse wird von Experten behauptet, die Bereitstellung von Wohlfdhrtseinrichtungen sei besser dem privaten Sektor zu überlassen. Die Thatcher-Jahre in Grossbritannien waren mit der Philosophie verhunden, die Verantwortung vom Staat auf den Einzelnen zu verlagern. Zöge sich der Staat aus der Bereitstellung von Wohlfahrtseinrichtungen zurück, würde sich der karitative Sektor aktiver in die Versorgung Bedürftiger einschalten. Laut der ökonomischen Standardtheorie führen Kürzungen öffentlicher Ausgaben zu einem Anstieg privater Spenden und macht sich die steuerliche Absetzbarkeit von Spenden bezahlt. Die Annahme, dass dieser fiskalpolitische Mix zu einem altruistischeren Verhalten der Individuen führt, lässt sich allerdings aus mehreren Gründen hinterfragen. Eine Beurteilung eines Kurswechsels des öffentlichen Sektors, die die Auswirkungen auf die individuellen Präferenzen beinhaltet, stellt die Behauptung in Frage, dass private Spendengelder öffentliche Ausgaben in ausreichendem Masse ersetzen könnten. Der gleiche analytische Rahmen ist ein wirksames Instrument, um weitere politische Ergebnisse vorherzusagen.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉDe plus en plus souvent, les experts ont soutenu que les services sociaux devaient plutǒt ětre fournis par le secteur privé. Au Royaume Uni, les ‘années Thatcher’étaient associées avec une philosophie prévoyant une plus grand liberté de détcision laissée a l'individu et que, au cas où l'état reduisait la provision des services sociaux, les institutions charitables volontaires deviendraient plus actives pour satisfaire les besoins des ‘marginaux’. Tandis que la théorie economique normale suggère que les réductions des dépenses publiques font augmenter les contributions privées et que les encouragements fiscaux è contribuer è des institutions charitables peuvent se montrer efficaces, des raisons existent pourtant qui contestent le constat qu'une telle combinaison de politiques fiscales ménerait è un comportement individuel pluis altruiste. Une évaluation des changements dans la politique sociale, comprenant l'impacte de ces changements sur les pétférences des individus, met en question le constat que les contributions charitables privées remplacent convenablement les dépenses publiques. Le méme cadre analytique se montre efficace é la prévision d'une gamme d'issus de politique.
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    Notes: The term digital money refers to various proposed electronic payment mechanisms designed to use by consumers to make retail payments. These mechanism are based either on wart cards or on network money. Smart cards could potentially replace currency as the predominant means to pay for retail purchases. Software-based digital money products (network money) bring cheap electronic funds transfers to individuals and small firms. This paper examines how digital money affects the demand for money and how this process, in turn, affects the demand for reserves, monetary control, and the monetary transmission mechanism.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSGNGDer Begriff ‘Digitales Geld’ bezieht sich auf verschiedene Vorschläge fur elektronische Zahlung-ssysteme, die von den Konsuinenten zur Bezahlung von Einkäufen im Einzelhandel verwendet werden können. Diese Zahlungssysteme basieren entweder auf ‘smart cards’ oder auf ‘Netzwerk-geld’. Smart cards können möglicherweise Bargeld als vorherrschendes Zahlungsmittel im Einzelhandel ersetzen. Software-basierte digitale Geldprodukte (Netzwerkgeld) ermöglichen demgegenüber einen billigen Transfer von Geld an Einzelpersonen und kleine Unternehmen. Dieses Papier untersucht, wie digitales Geld die Geldnachfrage beeinflusst und welche Auswirkungen dies wiederum auf die Nachfrage nach Reserven. die Kontrolle der Geldmenge und die montären Transmissionsinechanisinen hat.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉLe terme monnaie digitale se refère à différents méchanismes de payment, ayant été proposées pour étre utilisés par les consomateurs pour effectuer leurs payments quotidiens. Ces méchanismens sont basés sur le principe de la ‘smart card’ ou du ‘network money’. Les ‘smart cards’ pourraient remplacer la inonnaie comme méchanism de payment prédominant pour I'achat quotidien. Par contre, le ‘network money’, monnaie digitale basée sur des logiciels, apporte une méthode peu coǔteuse pour les personnes particulières et les petites entreprises pour effectuer leurs transfers monétaires. Cet article examine comment la monnaie digitale influence la demande de la monnaie, et comment ce processus influence la demande pour les reserves monétaires, le contrǒle monétaire. ainsi que les méchanisines de transfers monétaires.
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    Notes: Argy, Victor and Leslie Stein (1997). The Japanese Economy. Basingsto-ke/London: Macmillan. 379 pp. £47.50. ISBN 0-333-6756-5. £17.50. ISBN 0-333-67566-5.Balasubramanyam, V. N. and D. Greenaway (eds.) (1996). Trade and Development. Essays in Honour of Jagdish Bhagwati. Basingstoke/London: Macmillan. 217 pp. £45.00. ISBN 0-333-65616-4.Blejer, Mario I. and Teresa Ter-Minassian (eds.) (1997). Macroeconomic Dimensions of Public Finance. Essays in Honour of Vito Tanzi. London/New York: Routledge. 506 pp. £65.00. ISBN 0-415-14111-7.Blejer, Mario I. and Teresa Ter-Minassian (eds.) (1997). Fiscal Policy and Economic Reform. Essays in Honour of Vito Tanzi. London/New York: Rout-ledge. 305 pp. £60.00. ISBN 0-415-13739-X.Brömmelhörster, Jörn and John Frankenstein (eds.) (1997). Mixed Motives, Uncertain Outcomes. Defense Conversion in China. Boulder: Lynne Rienner Publishers. 275 pp. $ 55.00. ISBN 1-555-87710-9.Constanza, Robert, Charles Perrings and Cutler J. Cleveland (eds.) (1997). The Development of Ecological Economics. Cheltenham, UK/Brookfield, USA: Edward Elgar. 777 pp. £160.00. ISBN 1-85898-386-X.Craig, Lee A. and Douglas Fisher (1997). The Integration of the European Economy, 1850-1913. Basingstoke/London: MacMillan Press. 327 pp. ISBN 0-333-58036-2.Davies, Stephen and Bruce Lyons (1996). Industrial Organization in the European Union. Structure, Strategy and the Competitive Mechanism. Oxford: Clarendon Press. 287 pp. £40.00. ISBN 0-19-828973-1.Fratianni, Michele and Franco Spinelli (1997). A Monetary History of Italy. Cambridge: Cambridge University Press. 305 pp. £40.00. ISBN 0-521 -44315-6.Gandolfo, Giancarlo (1996). Economic Dynamics, 3rd ed. Berlin/Heidelberg/New York/London: Springer. 610 pp. DM 178.-. ISBN 3-540-60988-1.Garfinkel, Michelle R. and Stergios Skaperdas (eds.) (1996). The Political Economy of Conflict and Appropriation. Cambridge/New York/Melbourne: Cambridge University Press. 182 pp. $ 49.95. ISBN 0-521-56063-2.Kemp, René (1997). Environmental Policy and Technical Change. A Comparison of the Technological Impact of Policy Instruments. Cheltenham, UK/Brookfield, USA: Edward Elgar. 360 pp. £55.00. ISBN 1-85898-506-4.Klamer, Arjo (ed.) (1996). The Value of Culture. On the Relationship between Economics and Arts. Amsterdam: Amsterdam University Press. 243 pp. £21.95. ISBN 90-5356-218-4.Llau, Pierre (1996). Economie financeère publique. Paris: Presses Universitai-res de France. 546 pp. 168 FF. ISBN 2-13-047774-7.Mueller, Dennis C. (ed.) (1997). Perspectives on Public Choice. A Handbook. Cambridge: Cambridge University Press. 672 pp. $79.95. ISBN 0-521-55377-6 (he.). $ 29.95. ISBN 0-521-55654-6 (pbk.).Pritzl, Rupert F.J. (1997). Korruption und Rent-Seeking in Lateinamerika. Zur Politischen Ökonomie autoritärer politischer Systeme. Baden-Baden: Nomos. 318 S. ISBN 3-7890-4692-2.Schmidt-Trenz, Hans-Jörg (1996). Die Logikkollektiven Handelns bei Delegation. Tübingen: J.C.B. Mohr (Paul Siebeck). 293 S. ISBN 3-16-146607-1.Xepapadeas, Anastasios (ed.) (1996). Economic Policy for the Environment and Natural Resources. Techniques for the management and Control of Pollution. Cheltenham, UK/Brookfield, USA: Edward Elgar. 245 pp. £59.95. ISBN 1-85898-413-0.
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    Notes: The paper defines entrepreneurship as about ‘self-competition’, the quest to test self-ability: Can a future self achieve greater goals than what has been so far achieved? Self-competition involves the development of ability and, hence, ex post assessment of ability is uncertain. Such uncertainty occasions either immobilizing anxiety (Buridan's ass) or entrepreneurial action. No such uncertainty surrounds the assessment of risk probability characterizing events such as floods and stock market crashes. An observable prediction of the proposed uncertainty/risk dichotomy is that insurance, which concerns risk, cannot crowd out religion and other belief systems which appeal to uncertainty.〈section xml:id="abs1-2"〉〈title type="main"〉ZUSAMMENFASSUNGIn diesem Papier wird Unternehmertum im Sinne von ‘Selbst-Konkurrenz’ deftniert, als Streben, die eigenen Fähigkeiten unter Beweis zu stellen: Kann das zukünftige Ich höhere Ziele als bisher erreichen?Selbst-Konkurrenz beinhaltet die Entwicklung von Fähigkeiten, und daher ist deren ex post Einschätzung unsicher. Diese Unsicherheit führt entweder zu einer lähmenden Angst (Burdians Esel) oder zu unternehmerischer Aktivität. Im Gegensatz dazu ist die Einschätzung der Risikowahrscheinlichkeit von Überschwemmungen oder Kursschwankungen an der Börse nicht von einer solchen Unsicherheit geprägt. Als beobachtbare Voraussage aus der vorgeschlagenen Unsicher-heit/Risiko-Dichotomie heraus ergibt sich, dass eine dieses Risiko betreffende Versicherung nicht in der Lage ist, Religion und andere Glaubenssysteme, die sich auf Unsicherheit bezichen, zu verdrängen.〈section xml:id="abs1-3"〉〈title type="main"〉RÉSUMÉCe papier définit ľesprit entrepreneur comrne ‘une concurrence de soi’, la quete d'éprouver la capacityé de soi: Est-ce possible qu'un futur-soi puisse achever de plus grands buts qu'il a déjà accomplis? Une concurrence de soi consiste du développcinent de sa capacityé, done, ľévaluation ex past de cette capacityé n'est pas certaine.Une telle incertitude mène à une anxiété paralysante (ľǎne de Buridan) ou àľ action entreprenante. Une incertitude de la sorte n'entoure pas ľévaluation de la probabilityé de risque qui caractérisent les événements tels comme ľ inondation ou la chute de la Bourse. Une prédiction qu'on petit observer de la dichotomie proposée incertitude/risque, c'est que ľ assurance, qui concerne le risque, doit laisser de place aux réligions et aux autres systèmes de croyance qui invoquent ľ incertitude.
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    Notes: Book Review in this ArticleISTEMI DEMIRAG and SCOTT GODDARD, Financial Management for International Business
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