Business Economics articles from July 2004

Business Economics archives from July 2004

From the editor.(current account deficit and federal budget deficit)(Editorial)
July 1, 2004... Those of us who were paying attention to economic affairs 25 years ago will recall that there was much concern and ink shed over the "twin deficits"--the current account deficit and the federal budget deficit. The fact that the twin deficits...

Facing facts about America's true financial condition and fiscal outlook: the outlook is grim and will get worse unless we act soon.
July 1, 2004... In addition to external security threats, America is threatened from within by growing fiscal imbalances. The combination of entitlement programs, demographics, and rising health care costs create the need to make choices that will only become...

Does exchange-rate management have a role in the U.S. macro-policy tool kit? Stabilization is not wise policy if the current account continues to deteriorate.
July 1, 2004... Given the rather large swings that the dollar has undergone in recent years, a number of observers are arguing that policy steps should be undertaken to stabilize the dollar around present levels. We make the case that exchange-rate management...

Managing exchange rates: achievement of global re-balancing or evidence of global co-dependency? The United States and its trading partners have serious vested interests in the status quo.
July 1, 2004... Long-term global economic health requires that external imbalances and the internal imbalances that support them be corrected by both the United States and its trading partners. The current path of external imbalances appears to be...

U.S. manufacturing: challenges and recommendations; How to best ensure the continued strength of U.S. manufacturing.
July 1, 2004... The U.S. manufacturing sector was hard hit in the recent recession, particularly with respect to employment. This paper examines the recent challenges for U.S. manufacturers, discussing short-term factors related to the characteristics of the...

Understanding cycles and shocks in the property and casualty insurance industry: lessons learned from experience.
July 1, 2004... The experience of the property and casualty (P & C) insurance industry provides insights into the nature of financial shocks and cycles. The evidence indicates that: * Shocks do not contribute to the underwriting cycle because they are...

The economic analysis underlying corporate decision making: what economists do when confronted with business realities--and how they might improve.
July 1, 2004... The number of economists employed by industrial corporations appears to have declined sharply since 1990, an incentive for those remaining to redouble efforts to contribute to the profitability of their enterprises and hold onto their...

The global marketplace for turbines.(Focus on Industries and Markets)
July 1, 2004... The world market for turbines and related products (turbine-based engines, generators and generator sets) is projected to increase at seven percent per year in current dollars through 2007 and reach the $77 billion mark that year. Such growth...

Providing economic consulting services to health professionals.(Economics at Work)
July 1, 2004... Health economics is a large and growing field, covering important public policy and private business issues. The rapid growth of the health-related industries and the increasingly complex issues they face have created growing opportunities for...

Comment on "corporate bond yield spreads in recent decades".(Comment and Reply)(Letter to the Editor)
July 1, 2004... I have always enjoyed reading the articles in Business Economics. In fact, a recent article by Douglas J. Lamdin (2004) caught my curiosity. Although the discussion of the "examination of trends, changes, and stock market linkages" in the...

Reply on "corporate bond yield spreads in recent decades".(Comment and Reply)(Letter to the Editor)
July 1, 2004... It is good to see that one's work is read, and even better that it generated enough interest to elicit a written response. The type of replication that Thomas Lam undertook is something we could use more of in economic research. As I will show,...

What Price the Moral High Ground?: Ethical Dilemmas in Competitive Environments.(Book Reviews)(Book Review)
July 1, 2004... What Price the Moral High Ground?: Ethical Dilemmas in Competitive Environments. By Robert H. Frank. 2004. Princeton: NJ, Princeton University Press, Pp. 203, $27.95. There has been a long-running debate among philosophers,...

The Future of U.S. Capitalism.(Book Reviews)(Book Review)
July 1, 2004... The Future of U.S. Capitalism By Frederic L. Pryor. 2002. New York, NY: Cambridge University Press. Pp. 367, Appendices Pp.32, External Appendices Pp.126. $38 hardcover. This book is an extraordinarily balanced presentation of the...

The Quiet Revolution: Central Banking Goes Modern.(Book Reviews)(Book Review)
July 1, 2004... The Quiet Revolution: Central Banking Goes Modern By Alan S. Blinder. 2004. New Haven, CT: Yale University Press. Pp. 119. $28.00 hard cover. What procedures should a modern central bank follow in setting monetary policy? The answer to...