Atlantic Economic Journal articles from September 1996

Atlantic Economic Journal archives from September 1996

An East Asian paradigm?
September 1, 1996... I. Introduction In September 1993, the World Bank released a controversial report, The East Asian Miracle: Economic Growth and Public Policy. Academic response divided along two lines. Political economists complained that it gave insufficient...

Required capital investment for the Tumen River economic development area.
September 1, 1996... I. Methodology Conventional development planning relies on economic forecasts often based on econometric models. Here one applies a Project Evaluation and Review Technique (PERT)(1) concept to estimate the future economic state of the Tumen...

Structural change in the Russian Far East: the implications for trade and factor markets.
September 1, 1996... I. Introduction Ronald McKinnon's book, The Order of Economic Liberalization, asks how to achieve financial equilibrium and price-level stability within the framework of a liberalizing economy. McKinnon was one of the first scholars to detail...

Prospects for Japanese-Russian trade expansion in the second half of the 1990s.
September 1, 1996... I. Introduction Russian trade with Japan adjusted for the appreciation of the yen has fallen dramatically in the 1990s, reflecting the economic collapse that has accompanied the first phase of its transition. Bilateral trade revival is...

Japanese mergers and acquisitions: overcoming obstacles to improved systemic efficiency.
September 1, 1996... I. Introduction Out-in (foreign firms buying Japanese firms) mergers and acquisitions (M&A) activities in Japan have gradually increased but remain at an extremely low level compared with the West, whether judged in terms of the number of...

On oligopolistic pricing: evidence from public construction works.
September 1, 1996... Unlike monopolies or competition, there is a wide spectrum of theories on oligopolies. Setting aside complications introduced by time elements, several static theories have linked oligopolistic pricing with the number of firms involved. Yet...

Money demand and the balanced budget theorem.
September 1, 1996... In their influential article, Holmes and Smyth [JPE, 1972] propose that the transactions demand for money should depend on tax revenues either through disposable income or through consumption based on theoretical and empirical viewpoints. With...

Natural rate of inflation in Australia: an eclectic approach.
September 1, 1996... The inflation rate that prevails when unemployment is at the natural rate is indeterminate. The concept of a natural rate of inflation (NRI) is of recent origin, suggested first by Frank Hahn [Money and Inflation, MIT Press, 1983] to describe the...

On adjustment costs and price and quantity adjustment.
September 1, 1996... The importance of costs of adjusting prices (menu costs) to unforseen shocks was stressed more than a decade ago and has meanwhile found its way into macroeconomics textbooks. An important extension of this literature has recently been put...

The Forbes flat tax.
September 1, 1996... The Steve Forbes flat tax proposal contended it would free the American economy from political repression [On Line forbes 96.com/html/flattax.html]. By taking the same percentage of income from all taxpayers, it was psychologically appealing as...

Central bank cooperation in foreign exchange markets: an empirical test.
September 1, 1996... Much has been written about the benefits and costs of international policy cooperation. This paper asks the positive question, "Is there international policy cooperation in the foreign exchange market?" Do central banks tend to work together,...

U.S. exports and economic growth causality.
September 1, 1996... This note examines Granger causality between exports and economic growth in a multivariate framework by applying Hsiao's version [Hsiao, JME, January, 1981] of the Granger causality method with the aid of cointegration and error-correction...

Efficiency and determination of black market exchange rates.
September 1, 1996... Black markets for foreign exchange have long been in existence in many developing countries. They evolve mainly as a response to government controls on access to foreign exchange. A black market typifies current or past imbalances in...

Savings and loan failure rate impact of the FDICIA of 1991. (Federal Deposit Insurance Corporation Improvement Act)
September 1, 1996... Not since the years of the Great Depression have the regulatory authorities closed so many Savings and Loans (S&Ls) as they did during the 1980s and early 1990s. From 1942 through 1979, few S&Ls failed due to insolvency. However, beginning with...

Employment success of recently arrived female immigrants.
September 1, 1996... Numerous studies have been undertaken into the general issue of labor market outcomes for immigrants. Studies by Chiswick [JPE, 1978] and Beach and Worswick [Canadian Public Policy, March 1993], as well as many others, have identified the key...

Poverty, business cycle conditions, and property crime: 1959-1992.
September 1, 1996... Employing time-series data for the U.S. for 1959-92, the following issues in the professional crime literature are empirically analyzed. An increase in poverty is associated with diminished legal earnings of low-income individuals and diminished...