Business Economics articles from January 1993

Business Economics archives from January 1993

The Adam Smith address: Adam Smith's legacy and economic transformation of Czechoslovakia. (speech deliverd at the 34th Annual Meeting of the National Association of Business Economics) (Transcript)
January 1, 1993... IT IS MOST intellectually stimulating for me to have this unique opportunity to speak here today and, in addition, to be somehow related to the name of the rounding father of economic science, Adam Smith. As is well known and already taken for...

NABE presidential address: if economics is relevant to business, why not economists? (speech delivered at the 34th Annual Meeting of the National Association of Business Economists) (Transcript)
January 1, 1993... WHEN I selected a title for my speech, the title seemed to have a clear meaning. Upon reflection, the title could have a double meaning. What I initially intended was, "If economics is relevant to business, shouldn't economists be also?" But...

The excesses of the eighties. (economic problems)
January 1, 1993... IN RECENT weeks we have seen an array of television anchors and the leading news weeklies all refer to the same root cause of America's problems. This alleged plague on our nation's economic performance is, of course, the Excesses of the...

The long-run economic outlook. (growth projections for the 1990s)
January 1, 1993... I BELIEVE it is my job to give an upbeat analysis of the longer-term prospects for the economy. I'll do my best, although it would be difficult to beat Herbert Hoover, who in June 1930 said, "Gentlemen, you have come sixty days too late. The...

International perspective: structural changes and the integration of Europe.
January 1, 1993... EUROPE IS NOW in a stage of flux. After forty years of integration and the emergence of institutions and arrangements propelling this process, centered on the European Economic Community, Europe has now reached another important turning point --...

Privatization in the former Soviet Union - one year later.
January 1, 1993... IN THE FALL of 1991, the old Soviet Union broke apart, leaving the former member republics to find their own way to economic reform. Most have chosen to move in the general direction of private business economies. This is a step most are ill...

Economic stability in the 1990s: the implications of improved inventory control.
January 1, 1993... THE WAY THAT movements in inventory investment dominate business cycles is well known. In the six most recent recessions, for example, changes in inventory investment accounted for an average of 98 percent of the peak-to-trough changes in gross...

Consensus forecasts in planning.
January 1, 1993... MACROECONOMISTS generally summarize the economic outlook by producing projections for a handful of very broad aggregate indicators. On their own, these projections represent only a general template for planners looking at the outlook for a...

Research impact assessment. (methods)
January 1, 1993... RESEARCH IMPACT ASSESSMENT is a recent 196-page paper that describes the practice of federal research impact evaluation. The following sections summarize the paper's contents, with references omitted.(1) QUALITATIVE METHODS Peer review of...

The business economist at work: choices taken along the highway.
January 1, 1993... IN THE SEASONAL darkness, cascading snowflakes reflect the light coming from the train station's main entrance. Familiar faces with unknown names gather around with the morning's paper(s), briefcase, and the obligatory coffee. Then, in the black...

The changing fortunes of bank economists.
January 1, 1993... IN JANUARY of 1991, Forbes magazine ran a major article entitled "Dreary Days in the Dismal Science."(1) It began by describing the unfortunate experience of a senior bank economist formerly employed by Chicago's Continental Bank. He became...

The statistics corner: interpreting the unemployment statistics.
January 1, 1993... My guest columnist for this issue is Janet L. Norwood, formerly U.S. Commissioner of Labor Statistics. Janet gave this excellent discussion of how to interpret the unemployment statistics at the NABE Annual Meeting in Dallas, but the paper...

Latin America's Economy.
January 1, 1993... THE OUTBREAK of the 1982 international debt crisis and subsequent efforts to resolve the ensuing problems have made Latin America one of the most challenging regions in the world for economists to study. As the "lost decade" progressed,...