Business Economics articles from July 2001

Business Economics archives from July 2001

FROM THE EDITOR.
July 1, 2001... Economics at Work "The Business Economist at Work" was a feature of Business Economics for many years. For a variety of reasons, it fell between the cracks. However, many (including me) believe that it was a useful feature and should be...

U.S. Economic Sanctions: Lessons from the Iranian Experience.(Statistical Data Included)
July 1, 2001... THE MOST VISIBLE SANCTIONS, THOSE ON TRADE, MAY NOT BE THE MOST IMPORTANT; AND IT IS NOT CLEAR THAT THE COST OF THE SANCTIONS ARE WARRANTED BY THEIR BENEFITS. The United States has been the world's only major country to make frequent use...

The Uncertainty of Budget Estimates.(Statistical Data Included)
July 1, 2001... THEY ARE GOOD ENOUGH TO BE USEFUL, BUT ONLY IF USED WITH CARE. The Urban Institute is a nonprofit, nonpartisan policy research and educational organization that examines the social, economic, and governance problems facing the nation. The...

The Phillips Curve and the Federal Reserve: Were the 1999-2000 Interest Rate Hikes Really Necessary?(Statistical Data Included)
July 1, 2001... A critical issue for monetary policy and corporate planning is whether the disappearance of the negative relationship between inflation rates and unemployment rates since 1992 has continued and is permanent. In 1999, the Fed apparently believed...

The Phillips Curve and Postwar Inflation are History.(Statistical Data Included)
July 1, 2001... CENTRAL BANKS ARE FIGHTING THE LAST WAR. Since the early 1990s, the U.S. economy has behaved quite differently than in the earlier postwar era. Rapid economic growth pushed unemployment to relatively low levels without igniting meaningful...

A Panel Discussion: Faster Productivity Growth--A New Economy?(Panel Discussion)(Statistical Data Included)
July 1, 2001... WHAT'S HAPPENED TO PRODUCTIVITY GROWTH AND WHY. It is no secret that U.S. labor productivity accelerated in the second half of the 1990s. The bulk of the spurt can be traced to the boom in investment information technology capital and to...

International Comparisons of Productivity Growth: Recent Developments.(Statistical Data Included)
July 1, 2001... RECENTLY U.S. PRODUCTIVITY HAS ACCELERATED MORE THAN PRODUCTIVITY OF THIRTEEN INDUSTRIALIZED COUNTRIES. In recent years, the U.S economy has surprised observers by growing briskly, even as inflation remained subdued. This impressive...

Behavioral Finance-Theory and Practical Application.(Statistical Data Included)
July 1, 2001... SYSTEMATIC ANALYSIS OF DEPARTURES FROM THE HOMO OECONOMICUS PARADIGM ARE ESSENTIAL FOR REALISTIC FINANCIAL RESEARCH AND ANALYSIS. Anomalies in financial markets are of interest and importance to economists in finance and other sectors. They...

Micropower.
July 1, 2001... Micropower involves the generation of electricity from small-scale units (ten-megawatt rating or less). Key product categories involve conventional generator sets fired by fossil fuels, fuel cells, microturbines, and several renewable sources...

Empowering Health Care Consumers through Tax Reform.(Review)
July 1, 2001... By Grace-Marie Arnett, editor. 1999. Ann Arbor, MI: University of Michigan Press. Pp.320. $29.95, paper back, $42.50 hardcover. This is a collection of papers presented at a conference that anticipated the em-ergence of serous discussions...

From Tellers to Sellers: Changing Employment Relations in Banks.(Review)
July 1, 2001... By Marino Regini, Jim Kitay, and Martin Baethge. 1999. Cambridge, MA and London, England: The MIT Press. Pp. 341. $39.95 hardcover. In the first two sentences of the preface, the editors of this book state succinctly its purpose: To...

Millennium Book II: 101 Years of Investment Returns.(Review)
July 1, 2001... By Elroy Dimson, Paul Marsh and Mike Staunton. 2001. London: ABNAMRO and London Business School. Pp 284. [pound]100 soft cover. Every so often, new research is so significant that it changes our view of the past and alters our perspective...