Business Economics articles from April 2003

Business Economics archives from April 2003

In memoriam.
April 1, 2003... Walter E. Hoadley 1916-2003 Business economics lost an outstanding professional economist, and NABE lost a good friend and role model with the death of Walter Hoadley on February 19, 2003. Born in San Francisco on August 16, 1916,...

From the editor.
April 1, 2003... It is nice to start a column on an upbeat note, but sometimes sadness is unavoidable. March saw the passing of two major figures in business economics: Walter Hoadley and Edgar Fiedler. Edmund Mennis and Jay Woodworth have written memorials to...

Economic outlook and economic policy in the United States: the administration's tax cut proposals will strengthen short-term and long-term growth.
April 1, 2003... The current recovery remains vulnerable, with unusually weak investment and job creation for the recovery phase of a cycle. The Administration's tax proposal mitigates risk of weak short-term growth while enhancing long-term growth. Of...

Thoughts on the economic future: demographic shifts imply avoidance of structural fiscal deficits.
April 1, 2003... As always, the short- and intermediate-term outlooks are uncertain, but what is certain is that the aging of the U.S. population will put an expanded demand on federal government expenditures. An optimistic view of the U.S. economy is that U.S....

What recession? What recovery? The arrival of the 21st century consumer: consumer ambiguity is likely to be a feature of the U.S. economy for some time to come.
April 1, 2003... Consumer confidence is a fairly accurate predictor of macroeconomic change. Recently, measures of consumer confidence have been giving ambiguous signals about consumer confidence and future economic growth. The factors behind the levels of...

The Federal Reserve Board and the stock market bubble: the relationship is more complex than it appears.
April 1, 2003... The stock market rose to unprecedented valuations in the late 1990 and was widely considered to be a bubble. The Federal Reserve Board has come under severe criticism recently for causing the bubble and has felt compelled to defend its record....

Caspian oil development: the sooner the better; a trade-off analysis and a basis for agreement.
April 1, 2003... The development of Caspian oil and gas could make a significant contribution to world energy supplies, while providing attractive investment and business opportunities to international entities. The reason for the delay in its development is...

Competitive responses to Corporate Average Fuel Economy standards: game theory is used to illustrate possible responses to proposed increases in cafe.
April 1, 2003... Corporate Average Fuel Economy (CAFE) standards were originally enacted to decrease oil and energy dependence of the United States on oil exporting countries and to stabilize oil and energy prices. Today, CAFE is offered as a policy tool for...

More U.S. economic data series incorporate the North American Industry Classification System. (Focus on Statistics).
April 1, 2003... Two previous articles in this column have reviewed the status of the incorporation by Federal statistical agencies of the North American Industry Classification System (NAICS) to replace the Standard Industry Classification System (SIC).' This...

Water treatment chemicals. (Focus on Industries and Markets).
April 1, 2003... The demand for water treatment chemicals in the United States is expected to rise at a five percent annual rate between 2000 and 2005, almost double that commonly projected for GDP. Higher value formulations are replacing low-cost, commodity...

What we know and what we don't know about corporate governance. (Forum on Emerging Issues).
April 1, 2003... Like most areas of economics, corporate governance has some important economic-finance underpinnings that have provided useful insights into both its normative (analytical) and positive (empirical) aspects. Corporate governance also has some...

BMO Financial Group. (Economics at Work).
April 1, 2003... The mandate of an economics department in a North American bank typically involves a blend of external and internal roles. The external role involves projecting the image of the institution to the public at large, as well as to bank clients and...

Creative Destruction: How Globalization Is Changing the World's Cultures. (Book Reviews).
April 1, 2003... Tyler Cowen. 2002. Princeton, NJ: Princeton University Press. Pp 179, $19.57, hardcover. Are globalization and international trade destroying local cultures and diversity? Does the market expand our positive liberties and increase the menu...

Agricultural Trade Policies in the New Millennium. (Book Reviews).
April 1, 2003... Edited by P Lynn Kennedy and Won W Koo. 2002. Binghamton, NY: Food Products Press, An Imprint of The Haworth Press. Pp 377. $89.95 hardcover; $49.95 paperback. Agriculture is an industry with a unique position in the world economy....